BSES market cap zooms
Mumbai: The share price of BSES Ltd. has risen 50 per cent during the last three weeks. Sources say that foreign institutional investors such as Oppenheimer and Morgan Stanley, and an Indian offshore fund have picked up close to 3 per cent of the company’s share capital during this period.
Back to News Review index page

Bhilwara’s issue may be blocked
Calcutta: BSL Ltd, formerly Bhilwara Synthetics Ltd., has been proposing a preferential issue of 26.4 lakh equity shares, in favour of promoters and associates. The issue, according to the financial institutions is in violation of Sebi regulations on ‘substantial acquisition of shares’. The notice to the extraordinary general meeting does not contain basic things such as class of shares, price at which the shares will be issued and the changes that will occur in the shareholding and voting rights.
Back to News Review index page

Morgan Stanley Mutual Fund NAV at peak
Mumbai: The market price of Morgan Stanley Mutual Fund’s scheme, touched Rs.10 on 23 August 1999. The net asset value per share has touched an all-time high of Rs.16.32. The fund’s top 25 shareholding by market value constitute 76 per cent of its total holding. Some of them are Infosys, Hero Honda, Bhel, Telco, Container Corporation, Tata Tea, Zee Telefilms, ITC and State bank of India.
Back to News Review index page

CSE will launch multimedia campaign
Calcutta: The Calcutta Stock Exchange will launch a multimedia campaign to bring in the retail investor into the stock markets. A campaign would be initiated to communicate with the masses, outlining the advantages and disadvantages of investing in the capital markets.
Back to News Review index page

Mayya panel reports on rules for sacking EDs
Mumbai: The Securities and Exchange Board of India had appointed a committee headed by M R Mayya for framing rules and bye-laws for stock exchanges. The panel has come out with a report saying the governing board should not be allowed to sack executive directors in stock exchanges.

On the issue of whether a person elected as the president of a stock exchange can function also as a broker, the panel has passed the buck to the committee on code of ethics.
Back to News Review index page

Sebi clarifies on stamp duty
Mumbai: The Securities and Exchange Board of India has stated that the share transfers that take place between one depository to another will not attract stamp duty, since it amounts to just transfer of registered ownership.
Back to News Review index page

DSP Merill tops debt mobilsation
Mumbai: DSP Merill Lynch has mobilised Rs.3,244 crore of the total Rs.8,769 crore of debt issues raised in the private placement market, in the first three months of 1999-2000. Some of the major issues managed by DSP are Indian Oil, Andhra Pradesh Infrastructure Development Corporation, HDFC and Dena Bank.
Back to News Review index page