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Thursday, April 8, 1999

Market Briefing 

FE NEWS SERVICE  
UTI releases Deepak Parekh panel report: Releasing the Deepak Parekh committee report on US 64 restructuring, the Unit Trust of India was moving towards more transparency, said UTI chairman P S Subramanyam. The UTI chairman was addressing a seminar organised by the Indian Merchant Chambers' on mutual funds in Mumbai. Subramanyam said that the mutual fund industry only reflected the performance of the economy and the performance of funds can only be improved if there is an improvement in the real sector.

ISE mulls overseas terminals: The Interconnected Stock Exchange of India is considering a proposal mooted by the Cochin Stock Exchange to set up its trading terminals abroad. The Cochin bourse has also decided to enter the cyber world of trade with the launch of its web site, cochinstockexchange.com. The management at its recent meeting also decided to put on block nine acres of its real estate property for setting up a Trade Guarantee Fund.

SC to consider BoR rights: Bank of Rajasthanis facing yet another dilemma as the Supreme Court is taking up the BOR rights case on April 9. The Rs 67.28-crore rights issue, which was scheduled to open on March 31, will be further delayed. The bank board is meeting on April 8 to work out ways for making the rights offer. The bank is issueing 4.48 crore equity shares at a premium of Rs 5.

NSE complaint's list: The National Stock Exchange has announced the names of corporates with maximum number of complaints pending against them for more than two months as on March 31, 1999. Videocon International is on top with 23 complaints pending; followed by Vatsa Corporation with 21;, Padmini Polymers with 11; Xedd Telecom with 10; Nepc India and Rinki Petrochemicals with 8 each; Grapco Inds and Sterlite Inds with 6 each; and Cauvery Software and Pentafour Products with 4 each.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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