Reliance Income Fund has declared a tax-free dividend for the monthly and quarterly dividend plans on June 30,1999. The dividend announced for the monthly dividend plan is 1.101 per cent which works out to an annualised 13.21 per cent, while the dividend declared for the quarterly dividend plan is 3.06 per cent which works out to an annualised 12.24 per cent. The ex-dividend NAV on June 30, of the monthly dividend plan was Rs 10.1428 and that of the quarterly dividend plan was Rs 10.1458 per unit.

Fire delays trading at CSE

A massive blaze within a building adjacent to the Calcutta Stock Exchange (CSE) on Sunday engulfed property and documents of at least 50 brokers and delayed the start of the trading session by a couple of hours on Monday. Official sources said the fire forced the exchange to shut down half of its C-Star system as a precaution and trading resumed only after verifying that no harm would be caused to the system. All affected brokerswere provided temporary accommodation but seemed in no mood to trade.

VLS investors allege insider trading

Investors' forum of non-banking finance company (nbfc) VLS Finance on Monday alleged heavy price manipulation (insider trading) by the company in its share allocation at the time of its public issue in 1994. "Insider trading took place in the VLS' scrip as the price of the company's scrip rose from Rs 50 to Rs 800 in one year's time prior to public issue," VLS Finance investors' forum convener Suresh Chand said.

Orient in limelight

Buoyed by a private placement of equity shares at a premium of Rs 70, Orient Information Technology Ltd has shot into the limelight on the bourses. In the past 10 trading, the stock has zoomed from Rs 58.10 to Rs 90. Volumes, too, saw a spurt as in the last five trading sessions, the counter has witnessed an average volume of 60,000 shares as against a daily average of 10,000 shares.

Market re-rating Apollo Hospitals

The market seems to bere-rating Apollo Hospitals. The stock has zoomed by an astonishing 96 per cent in the past one month from Rs 30 to Rs 58.75. On July 2, the stock touched an all-time high of Rs 63.20. With a good brand as well as a steady rise in revenues and earnings, Apollo Hospitals is slated to be on the growth path.

/Ashok Leyland on a roll

Ashok Leyland is on a roll. The scrip has almost trebled in two months and the bottomline, too ,is looking up after various efforts undertaken by the company. Ashok Leyland supplies trucks to the defence and the recent conflict in Kargil hs resulted in huge offtake of its premium brand `Stalion'.

Interest in Silverline

Rumours that Silverline Industries Ltd is in talks to acquire a Delhi-based software company should result in some buying interest in the counter. The stock, which has been trading in the Rs 180-230 band since April 1999, is likely to firm up in the coming days.