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Corporate Economy Expressions Markets Leisure 09 January 1998   Moody's review unnerves speculators Moody's critical evaluation of the Indian economy provided the much needed strength to bear operators to tighten their grip with the net effect that speculators rushed to square-up their long outstanding positions. The mood turned gloomy with brokers expecting foreign institutional investors (FIIs) to go slow on India.   NSE to seek legal view on banking operations for clearing corporation The National Stock Exchange (NSE) is seeking legal opinion on how its clearing corporation can undertake banking activities. This comes in the wake of the NSE finding out that there is no provision in the Banking Regulations Act for setting up a limited-purpose bank. 35 merchant bankers told to cease operations SEBI has advised 12 category-I and 23 other category merchant bankers to cease their merchant banking activities from the date of expiry of their registration. These merchant bankers have not filed an application for renewal of registration and consequently their licences have expired during the period of December 1 to 31. Indonesian rupiah plunges below 9,000 vs dollar Indonesia's battered currency, rupiah, which has now lost half of its value over the past month, plunged to new lows on Thursday following critical comments by International Monetary Fund (IMF) officials. The rupiah fell as far as 9,400 to the dollar from a 8,000/8,200 open in Jakarta.   Weakening rupiah fuels panic selling in Asian markets South-east Asian markets continued to fall for the third consecutive day. Almost all markets across the region, barring Seoul, fell on Thursday as the currency crisis worsened in Indonesia. The Jakarta composite index plunged by 12 per cent, while the blue-chip Straits Times Industrials index of the Singapore Stock Exchange fell by 7.1%. Crisil assigns AA-(SO) rating to VIDC's Rs 524 crore bond issue The Credit Rating Information Services of India (Crisil) has assigned AA-(SO) rating to the proposed Rs 524 crore bond issue of Vidarbha Irrigation Development Corporation (VIDC), indicating high safety for timely payment of interest and principal. The rating agency has also reaffirmed the AA-(SO) to the company's existing Rs 226 crore bond issue.     Kothari Blue Chip reduces exposure to information technology stocks   Panic yet to grip B group, 150 scrips record gains   Davies stresses at building links to restore investor confidence   Silver forges ahead, gold bounces back   Unit Trust gives a taste of its equity power   Investors may target manufacturing firms   IREDA plans to issue Rs 100cr tax-free bonds   Traders, sellers up to hold tea price-line   Forward premiums zoom up in reaction   Market Round Up   Motive is to align India's rating with other Asian countries'