Reliance
Petroleum to delist from ASE
Mumbai: Reliance Petroleum Ltd’s shares
are traded very thinly on the Ahmedabad Stock Exchange.
Hence, it has decided to delist from the stock exchange.
This was part of the company’s cost reduction exercise,
particularly when it felt that the Ahmedabad stock exchange
is charging high listing fees.
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Sebi
allows MFs to trade in securitised bonds
Mumbai: The Securities and Exchange Board
of India has allowed mutual funds to trade in securitised
debt. They can also float schemes dedicated for this purpose,
provided they make the relevant disclose in their offer
letter, along with the credit ratings of the securitised
bonds in which they will be investing.
The
securitised debt market, which is suffering from a lack
of liquidity, will revive and this will help banks and
financial institutions to recycle their funds. Mutual
funds, in turn, will get another avenue for investment.
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Connectivity between depositories postponed
Mumbai: The Central Depository Services
Ltd. and the National Securities Depository Ltd, which
were supposed to have been connected on 7 August 1999,
will not be linked until 20 September 1999, according
to a report in The Economic Times. The
reason: non-completion of the interface between the two.
Both
the depositories are also not satisfied with their technical
readiness. Will this mean that the September deadline
may also get pushed back?
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