AN Joshi has assumed charge as the executive director of the Bombay Stock Exchange (BSE) today. Joshi (58), holds a master's degree in science. He joined State Bank of India in 1964, and since then, he has been working in various capacities in international banking, credit management, IT, factoring services and general management. His last assignment was managing director of SBI factors and commercial services ltd, a subsidiary of SBI. The post of BSE's ED was vacant for quiet some time after the resignation of RC Mathur.

Bhubaneshwar broker suspended

The Securities and Exchange Board of India (Sebi) on Tuesday suspended Bhubaneshwar stock exchange member Rabindra Bojoris for six months for his failure to furnish books of accounts and other documents for inspection to the Sebi. The member will not be entitled to carry on the business as a stock broker till February 9,2000, a Sebi release said.

Sebi standardises letter format

The Securities and Exchange Board of India (Sebi) has standardised the format of a letter of offer specifying the minimum disclosures to be given, in order to ensure uniformity in compliance of all the requisite requirements regarding disclosures in a letter of offer and also to enable to furnish all the relevant information in the first instance itself. Regulation 18 (I) of Sebi (substantial acquisition of shares and takeovers) regulations 1997 requires an acquirer to file through its merchant banker, a draft letter of offer with Sebi, containing disclosures as specified by Sebi. The format of the standard letter of offer is available on the website of Sebi at www.sebi.gov.in.

Trades worth Rs 999.10 cr at NSE WDM

The wholesale debt market (WDM) of the National Stock Exchange (NSE) on Tuesday witnessed 150 trades worth Rs 999.10 crore. The 11.99 per cent government security maturing in 2009 was traded for Rs 155 crore at a weighted yield of 11.53 per cent. The 12.50 per cent government security maturing in 2004 was traded for Rs 90 crore at a weighted yield of 10.93 per cent.

Nine more securities on NSE

Nine securities - one in physical and eight in depository segments - will be available for trading on the capital market segment of National Stock Exchange (NSE) effective Wednesday. Jindal Strips Ltd would be traded under the new symbol in physical segment, while Supreme Petrochem Ltd, S Kumar's Synfab Ltd, the Antifriction bearing Corporation Ltd, Tata Investment Corporation Ltd, Zee Telefilms Ltd, Century Enka Ltd, Jindal Strips Ltd and Global Telesystems Ltd would be traded under specified series.

Aftek Infosys on dream run

Thanks to a 658 per cent jump in net profit for the quarter-ended June 30, 1999, Aftek Infosys Ltd is having a dream run on the bourses. In 26 trading sessions, the stock has gained over 111 per cent to Rs 167.55 and with the future growth prospects bright the uptrend is likely to continue in coming months.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.