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Monday, July 26, 1999

Forex Update

Off-market deals cast shadow over IPSTA
The Indian Pepper and Spices Trade Association (IPSTA) is losing its status as the sole agency in pepper trade as most export deals are now being struck outside the exchange.

Vysya Bank firms up mutual funds, insurance sector foray
Vysys Bank Ltd is aiming to become a one-stop financial service provider to face the millennium challenges of banking industry, according to the bank's chairman KR Ramamoorthy.

Euro Asian Securities pegs sale offer at Rs 55 per share
The shares of Euro Asian Securities, which faces a show cause notice from the Securities and Exchange Board of India, are on offer for sale at Rs 55 per share.



  Market Briefing
  Payment imbroglio in forward deals of imported edible oils unresolved
  Need to redefine hedging for using international energy exchanges
  Kochi pepper prices rise
  Albert to head FMC's fact-finding team
  Prices fall steeply as small onions flood Tamil Nadu markets
  Asia fuel oil up a notch on sustained demand
  Global steel scrap price continues to decline on swelling supplies
  A glimmer of hope for gold
  Book part profits in Bank of Baroda, HDFC Bank, stay away from BoI
  Financial Briefing
  Market awash with funds; call rates to dip below 8%
  Market surge reflects economy's shift towards long-term growth



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