Markets marginally up
Mumbai: On 20 October 1999, The Bombay Stock Exchange index of 30 shares closed at 4943, up 12 points from the previous close. The National Stock Exchange index of 50 shares climbed 33 points to close at 1477.

On the second day of its trading, the Satyam Infoway shares touched an intra-day high of $44.5 per share on the Nasdaq, before closing at $42.2. The issue price was $18 per share.
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Govt. may approve derivatives trading
New Delhi: The newly appointed Union cabinet may clear necessary amendments to the Securities Contract Regulation Act that will allow derivatives trading, allow forward trading in gilt-edged securities and prepare the regulatory framework for plantation schemes. The bill seeking the necessary changes will be introduced in the current session of parliament.
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Sebi to meet companies
Mumbai: The Securities and Exchange Board of India will meet representatives of companies whose shares are to be compulsorily traded in the dematerialised mode from 29 November 1999. Sebi is also in the process of meeting the registrars and transfer agents of these companies.
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Gail to start promoting its GDR
New Delhi: The Gas Authority of India Ltd will start campaigning for its global depository receipts issue shortly in Abu Dhabi. The issue, which is sold through the book building route, will be finally priced in London.

The merchant bankers to the 170 million share disinvestment in GAIL are Morgan Stanley and Jardine Fleming.
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VSNL may float ADS
Mumbai: India’s premier Internet service provider, the Videsh Sanchar Nigam Ltd, may come out with an American depository share issue amounting to $1 billion by divesting 25 per cent of its stake in its Internet subsidiary, VSNL Seamless Services Ltd. According to a report in the Business Standard, a final decision will be taken after the subsidiary starts functioning.
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