The Unit Trust of India has decided to compute the net asset value of UGS 2000, UGS 5000 and Unit Scheme 1992 and Equity Opportunity Fund 96 on a daily basis. Accordingly, the UTI will fix the repurchase prices on a daily basis. With this UTI has switched to daily NAV-based pricing in respect of all equity oriented schemes which are open for sale and repurchase.

Masa Decor buys back IDBI shares

The collaborators of Masa Decor Private Limited have bought back three lakh shares from IDBI at the rate of Rs 4.50 per share. The transaction, which was done on an one-time basis, constituted over one per cent of the paid-up capital of the company.

Rafisons makes bid for Sofia Software

UAE-based NRI Group, Rafisons Private Ltd, has made an open offer to the existing shareholders of Chennai-based Sofia Software Ltd (SSL) to acquire 20 per cent of its equity at a price of Rs 18.50 per share. The Dubai-based industrialists, MM Rafi and his sons MM Ansariand M Azal Mohamed, have acquired 22.80 per cent of the equity amounting to 6,84,000 shares. The promoters and their associates currently hold about 42.45 per cent of the Rs three crore share capital of SSL, the NRIs said in a statement here today. Listed on the stock exchanges in Chennai, Ahmedabad, Kochi and Coimbatore, the scrip has quoted at an average price of rs 18.09 per share.

DSE sets deadline for Y2K compliance

The Delhi Stock Exchange (DSE) will hold a mock trading session on June 15 to check the efficiency of its Y2K compliance measures. DSE has also written to all its member brokers to ensure their compliance and submit certificates to the effect by June 15. The stock exchange has written to all companies listed with it for the compliance certificates.

Aurobindo to fund research centre

The Andhra-based, Aurobindo Pharma Ltd (APL) has plans to issue around 10 lakh shares through the private placement route to financial institutions and others on a preferential basis. Theissue price, according to sources will be close to or at a slight discount to the current market price of 525. This would fetch the company close to Rs 50 crore. The funds so raised, would be partially utilised in acquiring established brands in a bid to increase the company's presence in the domestic market, said the company sources.

The sources said, APL also has plans to invest about Rs 15 crore to setup advanced research centre to carry out research in identifying new products and process to face the challenges posed in the post-GATT scenario.

CSE likely to join ISE

The Calcutta Stock Exchange is likely to join the Inter-connected Stock Exchange of India (ISE) very soon. "We are quite hopeful of Calcutta joining the ISE," said coordinator JK Sadany. ISE officials are actively negotiating with the Calcutta, Delhi and Chennai stock exchanges, he said. ``Calcutta is very interested to join the ISE. Business trend in the ISE should encourage the Calcutta Exchange to take a positive decision,"Sadany said. The ISE, which started with four stock exchanges in February 16, 1999, has grown phenomenally in a short span of three months.