Badla rates go up
Mumbai: Badla rates on the Bombay Stock Exchange reached a high of 32 per cent, but later settled down to around 24 per cent. The rate during the previous week was around 16 per cent. Market watchers said withdrawal of funds to invest in public offerings, rise in the number of stocks coming out of the no-delivery period and a higher outstanding are the reason for the higher badla rates. Infosys Technologies attracted a book closure badla rate of Rs 350 to Rs 360.
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Deutsche Telecom plans IPO for unit
Frankfurt: German telecom major Deutsche Telecom is planning to make an initial public offer for its T-Online Internet division. The German company said it will unveil a proposal for the IPO for T-Online on 25 January. The group is facing stagnated revenues and a price war. The float is expected to provide the company with funds to finance acquisitions as it fights to keep pace with the rapid consolidation in the global telecommunications industry.
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