The Financial Express -- Markets

Tuesday, July 8 1997

OTCEI pleads SEBI for reduction in depository networth stipulation

The Over The Counter Exchange of India (OTCEI) has asked Sebi to reduce the Rs 100 crore networth requirement so that its depository can function under the Sebi depositories regulation. Currently the OTCEI trading and settlement system has an on-line depository which functions outside the ambit of the Sebi regulations. However, the exchange wants to convert the same into a full fledged regular depository. A request for the conversion is already pending with Sebi. Along with the request for a networth requirement reduction, it has also asked for a reduction in the depository participant networth requirement from Rs 50 lakh to Rs 5 lakh.

Three navratnas glitter while others lose gleam

Only three of the eight listed navratnas have outperformed the Sensex in the last one year. As on July 4, 1997 only 3 navratnas, Bharat Heavy Electricals Ltd (Bhel), Bharat Petroleum Corporation Ltd (BPCL) and Oil & Natural Gas Corporation (ONGC) had outstripped the 16.8 per cent gain of the BSE-30 index when compared with the figure on July 4, 1996.The Bhel scrip has made a whopping 123.23 per cent increase in its share price as on July 4, 1997 (date when these PSUs were unchained) as compared with its share price on July 4, 1996.

NSE reveals details of costs incurred on V-Sat terminals

The National Stock Exchange (NSE) has given a detailed account of costs incurred by its members on V-Sats to dispel doubts that the exchange's charges are exorbitant when compared with that charged by other exchanges. The move comes in the wake of a number of queries received by the bourse from its members to clarify the cost structure.

Siemens plans Rs 150cr preference issue

RBI exchange fluctuation reserve slips as gold price crashes

Bullish trend forges ahead in polyester yarn

Tokyo bonds close lower

Minor technical correction likely

Market Briefings -- SEBI diktat on trading with CRB-linked firms

Investors disillusioned in pessimistic market

Soros expects world stock markets to crash

T-bonds may settle lower

Investors jittery about technology firms' Q2

Market Round-up -- Call rate

Sensex falls 32 points after see-saw movements

Mark to Markets -- Market puts out a sell on Sterlite

Ceat moves up; next resistance likely at Rs 39

Dollar falls against yen

Depositors throng Fintra Systems