Friday, November 20, 1998
Universal Cables plans Rs 8-crore rights at premium of Rs 10 a share
Universal Cables Ltd is planning to tap its shareholders with a Rs 8.01 crore rights issue at a price of Rs 20. Promoted by The Punjab Produce and Trading Company, Gwalior Webbing Company, Vindhya Telelinks Ltd and Birla Corporation Ltd, Universal Cables plans to issue 40 lakh equity shares in the ratio of one share for every four shares held in the company.
Gold demand falls again in third quarter
After a deluge of gold imports in the first quarter of 1998, India's demand for the yellow metal fell once again in the third quarter ended October 1998 to 171.8 tonnes, 8% lower than the record level of the same period last year (Q397).
Centre okays dollar trading in pepper bourse
Finance ministry officials have agreed to trading in US dollars at the International Pepper Futures Exchange at Kochi. Assurance to clear the government proposal for dollar-denominated trading was given at a meeting between finance and civil supplies ministry officials on Tuesday.
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