We're fully Y2K compliant: BSE
The Bombay Stock Exchange has announced successful completion of mock trading for Y2K complaince. The exchange had scheduled both normal as well as badla trading on Saturday November 27. The participation from members was overwhelming, as more than 1,500 users traded successfully during this exercise, a BSE release said. The BSE also conducted successful tests for custodians, settlement system, data feed and clearing house. The successful completion of mock trading has geared the premier bourse and its members, the regulators and the investors to march into the next millenium, the BSE release added.Skindia GDR index up 0.78 per cent
The Skindia GDR index, representing GDRs of 17 actively trading companies increased by 0.78 per cent from 941.93 to 949.28 on November 26, 1999 as per the Skindia GDR index with a base January 3, 1995 equal to 1000. The Skindia GDR index P/E ratio was 73.69 as compared to 72.32, Skindia Finance said in a pressrelease.
Date set for Zee stocks split
Zee Telefilms has fixed December 22 as the record date for giving effect to sub-division of face value of its scrip from Rs 10 to Rs 1 per share. According to a circular issued by the Delhi Stock Exchange, the ex-date for the share will be December 6. Last delivery will be on December 11 with no delivery on December 18 and 24. Badla will be conducted in that counter on December 4 as per face value of Rs 10 per share. However, the carryforward quantity after the badla session from will be as per face value of Re 1 per share. Since Zee Telefilms is under compulsory demat delivery, there would be no change in the market lot.
Cyclicals receive drubbing
With the petroleum ministry scheduled to take a decision on diesel price hike on December 5, cyclical stocks took a beating on Monday. Analysts expect economy stocks to continue to be under pressure till a clearer picture on the diesel price hike emerges. Thanks to this fear, scrips like Sail, Tisco,Telco, ACC, Larsen & Toubro and India Cement were among the losers on Monday.
Henkel Spic stock turns attractive
After a sharp fallThanks to a 48 per cent plunge in ailing Henkel Spic's price on the bourses ahead of its rights issue, the counter offers an attractive investment option in a FMCG scrip. If an investor gets into this counter at current levels and subscribes to the 1:2 rights issue, the cost of acquisition of a share works out to Rs 70.7 against the cum-rights price of Rs 83.55.
Dundee Bond Fund mops up Rs 28 cr
The open-end bond fund from Dundee Mutual Fund has mobilised close to Rs 28 crore during the initial offer which closed on November 25. The fund will open for fresh sale and redemption of units in the first week of December.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.