The Financial Express -- Markets

Thursday, November 27 1997

ITC Classic scrip pounded, ICICI firm

Marketmen expect the share swap ratio between ICICI and ITC Classic to be fixed somewhere between 10:1 and 15:1. There was a tremendous selling pressure at the ITC Classic counter on Wednesday. However, the ICICI stock continued to be range bound. On the BSE it closed higher at Rs 73, up by 0.68 per cent.

CARE downgrades Reliance Capital NCDs, DDBs

CARE has revised downwards the rating of the outstanding non-convertible debentures (NCDs) and deep discount bond (DDB) issues of Reliance Capital Ltd (RCL) from CARE AAA (Triple A) to CARE AA+ (Double A plus) following an increase in the aggregate amount issued to Rs 8,000 million by Care. The rating agency has assigned a CARE AA+ (Double A plus) rating to the NCD and DDB issues for an additional amount of Rs 4,000 million.

Sensex jumps 56 points, ITC Classic slumps

The 30-scrip Bombay Stock Exchange (BSE) Sensitive Index continued its upward march on Wednesday, crossing the psychological barrier of 3,500 to end the day at 3,535.52, up 55.63 points over the previous close. Brokers attributed the rise in stock prices to shortcovering and buying by institutional investors at select bluechip counters.

Basmati rice flares up due to rains; bullion down

ITC Classic scrip pounded, ICICI firm

Currency flux may benefit a handful

For top finance firms, equity is an eyeopener

Strong bullish signals emerge

Dhanalakshmi scrip trading soon

CARE downgrades Reliance Capital NCDs, DDBs

Market Round-up -- Call Money

Sensex jumps 56 points, ITC Classic slumps