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Market Briefing
FE NEWS SERVICE
SHCIL to sell Dundee mutual funds
Dundee Mutual Fund has tied up with Stock Holding Corporation of India (SHCIL) to distribute its mutual fund schemes through the latter's 70 centres. This is the first time SHCIL will distribute products of a mutual fund. The schemes will initially be offered through nine centres and the facility will later be extended to the remaining centres. The nine centres are Ahmedabad, Delhi, Mumbai, Calcutta, Bangalore, Chennai, Hyderabad, Chandigarh and Jaipur.RCPL buys 50,000 shares from IDBI
The promoters of Reliance Cellular Products Ltd (RCPL) have purchased 50,000 shares of the face value of Rs 10 each held by IDBI. RCPL bought the shares from IDBI at a price of Rs 10 each. The sale transaction constituted over one per cent of the paid up capital of the company, an IDBI statement said. Brokers' back-offices Y2K ready: BSE
The Bombay Stock Exchange (BSE) has said that its brokers' back-office systems had been certified Y2K compliant. It said it had conducted a Y2K audit on all its systems from an independent system audit agency and had Y2K compliance certificates from vendors of trading systems, settlement systems, on-line surveillance systems, back office-systems and systems of brokers' back offices. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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