NSE to enter ‘Infotech’ industry
Mumbai: In November 1999, The National Stock Exchange will launch its information technology subsidiary. The unit will provide software to the investor community for use in trading over the Internet, and for networking.

Investors will be able to use their own computers to connect to brokers’ terminals over the Internet and to place orders. The software will be ready for demonstration within a week.
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Ajanta Pharma may float public issue
Mumbai: The ‘Thirty Plus’ fame Ajanta Pharma is mulling a public issue to raise about Rs.50 crore, which will be decided upon receiving advise from the ICICI and IDBI, the advisors to the issue. According to a report in the Business Standard, the promoters would like to hold on to a 75 per cent post-issue stake.
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Morgan Stanley upgrades India
New Delhi: Morgan Stanley Dean Witter has put India right on top of the list of best global emerging markets. Brazil, Mexico and South Africa follow India. Morgan Stanley has also said that investors should stay invested until December 1999 since it feels that the emerging markets will receive fresh investments in January 2000.
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Hong Kong to launch blue chip fund
Hong Kong: The Hong Kong government will launch a $1.29 billion blue-chip tracker fund, which will carry a five per cent discount for retail investors. The price for retail investors will be HK$13.8 per unit.

The government’s fund management arm, the Exchange Fund Investment Ltd., will be able to offload its stocks that were bought during the August 1998 market fall.

In the meantime, Barclays will launch an Islamic mutual fund in Dubai, which will not invest in stocks of liquor, pork manufacturing and gambling companies.
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