The Financial Express -- News

Wednesday, November 19 1997

FIIs may offload stocks before further slide

The fall of the rupee has triggered a selling spree among foreign institutional investors (FIIs). Since the dollar is stable vis-a-vis the rupee despite the decline in the world market indice, further FII selling is likely to erode stock values, according to analysts.

Major firms off satellite dealers' gilts trading list

The Reserve Bank of India (RBI) yesterday struck down the Hindujas-promoted Ashok Leyland Finance, Mafatlal Finance of the Mafatlal group, AV Birla-promoted Birla Marlin and Escort Finance of the Nandas from the list of satellite dealers (SDs) that will trade in government securities. In a related move, it has decided to register a Tata group company - Tata Finance Securities - as a satellite dealer.

DoT drops move for blacklisting 12 cable supplying companies

The Department of Telecommunications (DoT) has formally suspended all proceedings for blacklisting 12 companies allegedly indulging in cartelisation in supplying optical fibre cables to the Department. While Union communications minister Beni Prasad Verma first ordered an enquiry in the matter, the DoT has decided to let off the companies after a delay of more than a year.

Gontermann-Peipers to go in for bridge loan

India to acquire Asian tiger status within 15 years: Study