Badla rates at 16.5 per cent
Mumbai: Average badla rates touched 19 per cent before settling down to around 16.5 per cent on 15 January. Trading in badla was interrupted becuase of connectivity problems, but was restored later. The comparatively low rates of badla, market analysts said, signified that there is no problem in the market, which saw unprecedented volatility in prices. The top five outstanding stocks were Zee Telefilms, Infosys Technologies, Reliance Indsutries, Satyam Computers, and Larsen & Toubro.
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SHCIL waives ceiling on free custodial service
Pune: The Stock Holding Corporation of India has raised the waiver level for custody charges to individual holdings of up to Rs 1 crore from the present level of Rs 15 lakh. The corporation's managing director and chief executive officer B.V. Goud said it has done this in response to requests of investors. At present, the corporation waives these charges for assets up to Rs 15 lakh. The new scheme will not apply to companies.

Mr Goud said SHCIL will have nearly 100 offices in the country, mostly in small towns. It is positioning itself as a limited-purpose bank to distribute all financial products for the capital market, retail insurance products and mutual funds. Mr Goud said SHCIL has a net worth of Rs 105 crore, and is thus eligible for distribution of insurance products.
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IPO from Pentagon
Chennai: Pentagon Global Solutions, an infotech company engaged in education, training and software development, is coming out with an initial public offer worth Rs 4.8 crore offering  Rs 10 shares at a premium of Rs 2. The proceeds from the IPO will be used for expansion and setting up of a software development centre in Chennai and a marketing office in New Jersey, USA.

Pentagon came into existience after taking over the computer education and training activities of  Sabhari College.
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