Turnaround cases are almost always rewarded on the bourses, but what happens subsequently rarely attracts investor interest. A study of corporates who have sustained their turnarounds (even amidst the economic recession) shows that marketmen have been very selective in taking their pick. Although some of these companies are trading close to their highs even today, there are many who have slipped back to their illiquid trading days.

Online depository system started

The first on-line depository system having direct connectivity with NSDL has begun operations in Chandigarh. Integrated Master Securities Ltd, which has launched this service in Chandigarh, has been promoted by Tandon Financial Consultants Ltd. After the on-line depository service, the company will set up a telebanking facility in Chandigarh, besides setting up a terminal of the Ludhiana Stock exchange.

DSE committee on irregularities

In a bid to streamline its system ofinquiry into financial irregularities, the Delhi Stock Exchange has decided to appoint an inquiry officer to head such in-house probe. The resolution to this effect was passed at the recent extra-ordinary general meeting, said DSE vice president Brij Bhushan Sahny. At the meeting, DSE members said the accused members must be given adequate opportunity to plead their case before placing them under suspension. With this decision, now an inquiry officer will give a notice to the accused member returnable within 30 days. The accused will give his reply within the stipulated time and he will be suspended only when his involvement is proved, Sahny said.

Canbank MF dividend

Canbank Mutual Fund has declared a 20 per cent tax-free dividend in Candouble Scheme. The scheme, launched in February 1990 as a balanced scheme and rolled over in February 95 last, declared 12.5 per cent income distribution for 1995-96. The scheme showed significant improvement in the past one year with its net asset value registeringa growth of 42.90 per cent and stood at Rs 21.12, said a release.

Skindia GDR index up 0.17 per cent

The Skindia GDR index representing GDRs of 19 actively traded companies increased by 0.17 per cent to 876.36 points from 29.95 points on August 6. The Skindia GDR Index P/E ratio also went up by 0.06 per cent to 29.96 from 29.95 and the Skindia GDR index premium rose by 7.36 per cent to 20.94 per cent from 19.51 per cent. There were 18 gainers, 12 losers and 33 unchanged as against the 8 gainers, 27 losers and 28 unchanged.