Badla rates at 33%
Mumbai: Weighted average badla rates on the Bombay Stock Exchange rose to 32.5 per cent in the 11 December carry forward session from 26 per cent the previous week. The reason: a rise in outstanding positions. The carry forward position has gone up to Rs 2,959 crore from Rs 2,787 crore in the previous week. Badla financiers are also understood to have pulled out funds because of Y2K fears.

Silverline Industries witnessed the highest carry forward volume, in excess of 11.5 lakh shares, and attracted badla rates of 33 per cent. Ranbaxy, with a carry forward volume of 16.93 lakh shares, attracted 31.78 per cent.
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Sebi extends Y2K deadline
Mumbai The Securities and Exchange Board of India has extended the deadline for stock exchanges to become Y2K compliant to 15 December. The regulator had earlier asked exchanges to deactivate members who have not complied with Y2K norms by 15 November. Several exchanges asked Sebi for extra time for installing the required software.
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Stock Holding Corporation for private placement
Hyderabad: The Stock Holding Corporation of India is enhancing its equity through a private placement with multilateral agencies to part-finance its expansion and diversification plans. SHCIL managing director and chief executive officer B V Goud said the company is planning to approach global financial agencies for funds. SHCIL has a paid-up equity of Rs 21 crore and a net worth of Rs 105 crore.

SHCIL plans to increase its net worth to Rs 250 crore by March 2002 to be eligible to obtain a banking licence from the Reserve Bank of India.
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