The Indian Express The Financial Express Latest News Elections '98 Express Investment Week Market Indicators Screen Express Computers Travel & Tourism Advertisers Forum Information Technology Drumbeat: Ad Buzzaar Astrosurf Eco-India Career India Business Forum Match Maker Express Properties

Corporate Economy Expressions Markets Leisure Friday, March 13, 1998   Nasdaq, American SE in merger talks In a move to challenge the mighty New York Stock Exchange, America's two other main stock markets are discussing a possible merger. A merger between the Nasdaq Stock Market and the American Stock Exchange would have great benefits for both exchanges, both of which have been struggling to compete with their more prestigious and influential rival.   Political uncertainty plays the villain, Sensex sheds 36 points Ripples from Sebi's indictment of Hindustan Lever cascaded on the scrip, which lost Rs 14 on Friday over its previous close. The fall in the scrip, which has a 14 per cent weightage in the Sensex, pulled the 30-share BSE Sensitive Index below the crucial 3,700-mark. Reliance Petro board to take up debenture conversion option The board of Reliance Petroleum Ltd (RPL) is meeting on Saturday to consider providing a conversion option for those triple option convertible debentures (TOCDs) which no longer have detachable warrants accompanying them. The board will also fix a record date for exercising the outstanding warrants which would cease to be tradeable from April 10 this year. Tata AMC set to unveil open-ended fund soon Tata Asset Management Company plans to launch a twin-option fund on March 23. The open-ended fund with no load does not provide for assured returns. The open-ended growth fund has two portfolio choices for making investments -- a pure equity option and a balanced portfolio option.   Plan panel moots IPO listing on OTCEI To revive the ailing Over-The-Counter Exchange of India (OTCEI), the Planning Commission has suggested compulsory listing of all new issues on the exchange before graduating to other bourses. It has also suggested broadening of the market making effort by participation of the major financial institutions, including banks to energise the primary market and OTCEI. NHB bond issue oversubscribed Unfazed by the tight interest rate regime, National Housing Bank's Rs 300 crore tax-free bond issue with a coupon of 9.5 per cent has sailed through easily. The priority sector bonds, which had a maturity of seven years and a put and call option after five years, were oversubscribed within two weeks of its launch.     Market Briefing   Dematerialisation touches $5bn mark, participants at 10,000   Calcutta Stock Exchange plans to unveil new Sensitive Index   Sugar scrips perk up on costlier imports   Unit Trust may float funds for illiquid stocks   Market Roundup   More foreign investment needed to solve Korean crisis, says president   Yields on Japanese government bonds at record lows   Bullion down on weak overseas advices; oils up   LIC Housing Fin scrip spurts by 35 per cent   Punters are back in the Jagatjit counter   Indonesian stock market get ready for busy weekend   Nestle   Market may head southwards   US stocks set new record   Sebi-Hindustan Lever wrangle