The Indian Express -- Business

Wednesday, November 26 1997

FOREX RATES INDICES STOCK

RBI for minimum NBFC rating

The Reserve Bank of India has specified a minimum credit rating for non-banking finance companies without which they will not be allowed to collect deposits from the public. The ratings are laid down in the manual for on-site inspection of NBFCs drawn up by the RBI. They are: "FA-" of Credit Rating Information Services of India Ltd (Crisil); "MA-" of Investment Information & Credit Rating Agency of India Ltd (ICRA); "BBB" of Credit Analysis & Research Ltd (CARE); "BBB-" of Duff & Phelps Credit Rating India Pvt Ltd (DCR India).

Sensex gains 77 pts

Pivotals recovered smartly on the Bombay Stock Exchange as well on the National Stock Exchange yesterday on emergence of short covering coupled with fresh buying support from the financial institutions. The Sensex gained 77 points. The sentiment was weak during the earlier part of the session and the index dropped to 3388 but all round buying support recovered at the end. The closing rates showed modest to sizeable gains.

CCFI clears Pepsi proposal

The Cabinet Committee on Foreign Affairs (CCFI) has approved the proposal of the Pepsico India Holdings for increasing the amount of foreign investment from $ 255 million to $ 405 million. The CCFI, in its meeting on Tuesday, also cleared the proposal of Ispat Industries and permitted changes in the foreign collaboration letters granted to Tata Communications and Hughes Ispat Ltd.

Bizbits -- Century Enka net profit up

RBI for minimum NBFC rating

ICICI, ITC Classic mull over merger

Net FII holdings drop

Export growth to retard in H2

CCFI clears Pepsi proposal

Yamaichi woes spur slide in Tokyo stocks, yen

Sensex gains 77 pts

Sandvik to hike stake in SAL

Move to recast excise for SSIs

TAC reserves funds for ads to spruce up image

Godrej Soaps H1 profits rise

Rupee down, Sensex up

Minimum investment entry for auto firms