The Financial Express -- Markets

Saturday, June 28 1997

Category I merchant bankers in a dilemma over registration

Category I merchant bankers involved only in fee-based activity are in a state of confusion about the issue of registration with the RBI as non-banking finance companies. With the deadline for the registration of NBFCs set for July 8, there is no clarity whether category I merchant bankers need to register themselves at all.

RIL, M&M euro bonds surf on sentiment

Euro bonds of Reliance and Mahindra & Mahindra are quoting at a premium of 20% and 21% respectively over their issue price in the past seven trading sessions. Moving in line with the BSE 30-share sensitive index the GDR indices have also been recording a steady rise.

Dollar firm against yen

The dollar firmed from overnight lows against the yen but recent ranges remain in place and upside progress is seen hampered at 115 yen.

Precious metals end lower; castorseed, oil up

Buy/sell/hold

Executive Briefing -- ADB arm takes 9.9% stake in DCM Financial

Cement sector sees selective gainers

Market round-up -- Call Money

London gold up marginally on short covering

Japanese bonds zoom

US treasuries steady, await economic data