Will Wipro make Kaashyap radiant?
One can count on the Chennai-based Kaashyap group to make hay when the sun shines. In 1994, when finance companies were the toast of the Indian market, the six-year-old group (promoted by A Venkatramani) floated Ram Kaashyap Investment with an equity offer of Rs 2.5 crore for undertaking `retail financing' of leasing and hire purchase. Kaashyap's marketing plank was its association with Videocon Leasing and Industrial Finance, which invested Rs 40 lakh in Ram Kaashyap Investment. NSE suspends member
The National Stock Exchange (NSE) has suspended Vibrant Securities Pvt Ltd and Prime investrade Financial services ltd with effect from today as the trading members failed to meet the requirements for continued membership of the exchange/clearing corporation, an NSE release said.
Oranges turn sour for Enkay Texofoods
Nothing is going well for Enkay Texofoods. The scrip had not yet recovered from the rumours of a severe cash crunch that there is another blow. Monopolies and Restrictive Trade Practices Commission (MRTPC) has restrained Enkay Texofood from marketing its 'Onjus' kinnow juice as natural orange juice.
Skindia GDr index down 1.93 per cent
The Skindia GDR index, representing GDRs of 17 actively trading companies decreased by 1.93 per cent from 847.10 to 830.74 on October 29, 1999 as per the Skindia GDR index with a base January 3, 1995 equal to 1000. The Skindia GDR index P/E ratio was 55.66 as compared to 55.89 Skindia Finance, a Mumbai-based broking and research house specialising in Indian GDRs quoted in a press release.
Next support level is at 4150 points
The Sensex slumped to 4271, losing another 174 points day over day. We now need to see if the support at the 4150 level will work. The market opened on a hopeful note, with the Sensex at 4490, some 45 points higher than Friday's close of 4445. It managed to post just 10 points higher for the intra-day high at 4500.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.