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Wednesday, May 5, 1999
Market Briefing
BSE files 9 winding up petitions
The Bombay Stock Exchange has filed winding up petition against five companies, namely Amrut Industries, Atash Industries, Jayanti Business Machines, Vijayshree Capital & Finance and Madhu Milan Fincorp. The petition has been filed on the grounds that these companies had failed to address investor complaints and have also not paid up their listing fees to the exchange, which has now exceeded Rs 50,000. Meanwhile, during the month of April, the BSE received 2,271 complaints against 370 listed companies and during the same period, the exchange resolved 2,318 complaints. During the month of April, the exchange received maximum number of complaints against Motorol (India) and Padmini Polymers.BSE MoU with Cimbatore SE
The Bombay Stock Exchange has entered into an MoU with Coimbatore Stock Exchange on May 3, 1999. With this MoU, BOLT terminals will be made available within the jurisdiction of Coimbatore Stock Exchange. In the past, the BSE has already signedMoUs with Calcutta, Ahmedabad, Pune, Saurashtra Kutch, Vodadara, Madhya Pradesh, Madras, Bhubaneshwar, Jaipur and Magadh Stock Exchanges. A clarification
With reference to the story `Funds pay a price for fancied sectors', JM Mutual fund has clarified that three of their funds which figured among the top ten hit are dividend plans. Since these plans declared a dividend on April 14, it was natural for the NAVs of these funds to drop post-announcement of dividends. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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