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Saturday, September 4, 1999

Forex Update

Sebi allows mutual funds to invest in ADRs and GDRs
The Securities and Exchange Board of India has prescribed a minimum investment of $20 million by a mutual fund in ADRs/GDRs issued by Indian companies.

Sebi panel's report to revolve around shareholders interests
The Securities and Exchange Board of India (Sebi) constituted Committee on Corporate Governance (CCG) has decided that its report should revolve around shareholders' interests.

Sebi suspends BSE member
The Securities and Exchange Board of India (Sebi) has suspended Bombay Stock Exchange (BSE) member Bhupendra Talakchand Mehta till he pays the registration/turnover fees along with the accrued interest thereon to the market regulator.


Corporate Results


  Good demand for all categories at Calcutta tea sale
  Market Round-Up
  London gold holds steady near $255
  Badla rates flare up on CSE to 45 per cent
  Sensex slips 20 points; FII outflow likely to trigger more unwinding
  Open-ended funds ride on tax-breaks, pay dividends
  Value-addition holds the key for Hindalco
  Market Briefing
  Election-edgy Sensex could see a decline to 4688 points
  Terms for merger of HK bourses released
  70% of UGS 10000 invested in FMCG, pharma sectors -- UTI
  Systematic withdrawal plan offers smart income option
  Swap your shares with GIC D'Mat units
  List of closed ended equity funds shrinks further
  High premium, bloated equity make ICICI's mega float unattractive
  Deal with E-Merck makes Hikal Chem a good pick
  Look for short-term gains in Kale Consultants' IPO
  Euro emerges from depths of near-parity with dollar
  Self-correcting mechanism will temper yen's rise, Japanese comoanies believe



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