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Saturday, April 4, 1998

Stock Update Forex Update
  ICRA assigns MAAA(SO) rating to Telco Rs 343-crore securitisation prog
ICRA has assigned an MAAA(SO) rating to the Rs 343.45-crore securitisation programme of Tata Engineering & Locomotive Company (TELCO). The rating indicates highest safety. The rating is based on the strength of the cash flows from the selected pool of hire-purchasing contracts with relatively lower risk profile, credit enhancement mechanisms to ensure full and timely payment and the integrity of the legal structure.
  91-day treasury bills' auction devolves on RBI
The 91-day treasury bill auction held on April 3rd devolved on the Reserve Bank of India (RBI) as the central bank refused to lower the yield. An amount of Rs 40 crore devolved on the RBI while Rs 50 crore devolved on the primary dealers (PDs).

SEBI moots execution of cross deals on trading system
The committee appointed by Securities and the Exchange Board of India (SEBI) to recommend changes in the rules and bye-laws for stock exchanges has suggested that cross deals should be executed on the trading system of stock exchanges. The panel has recommended that necessary changes should be made in the bye-laws of exchanges in order to enforce its suggestions.
UTI shells out Rs 800 cr for institutional investors' fund
The Unit Trust of India (UTI) has been forced to fork out Rs 800 crore as redemption amount for its Institutional Investors Special Fund Unit Scheme (IISFUS) 1993 which was redeemed on April 1. The trust will be able to retain Rs 200-crore worth of investments in the scheme as this amount would be transferred to the IISFUS '98 scheme, which is currently in the market.


LIC

Syndicate Bank

NCPRB

 
NSE, Mumbai bourse lock horns over delivery-based trading figures
The Bombay and National stock exchanges are engaged in a war of words over delivery versus speculative trading. The bone of contention is not just which exchange has more delivery-based trading on its floor, but also what constitutes delivery-based trading. With both the bourses furnishing figures to prove their point of view, things are certainly hotting up.

Sensex crosses 4,000 points on FII buying, bank-rate cut
Aggressive buying by foreign institutional investors (FIIs) across the bourses along with a 50-basis point cut in the bank rate buoyed share prices on April 3. Reflecting the change in market sentiment, the 30-share BSE Sensitive Index crossed the psychological barrier of 4,012 to close at 4,076.05 points, registering a net gain of 83.33 points over Thursday's close.

 


  Market Round-Up
  Will Dewan Sugars be able to sell its sweet dreams to shareholders?
  PBM Polytex offers rights at par
  Groundnut oil scales new peak at Rs 400; precious metals buoyant
  The fixed deposit jamboree is over; banks pare rates
  Asian traders see bleak cocoa crop outlook
  BSE to issue another showcause notice to Nestle
  Look-alike money-market funds rule roost
  SBI MF may pay 10-15% dividend on MELSS '91
  Market Briefing
  BHEL scales new high at Rs 424
  Grim outlook for Japan haunts Asian bourses
  Dow sets new high at 8,986
  ICRA rates largest securitisation programme
  Karvy unveils new system to speed up redressal of investor complaints
  Philippines makes a comeback to international capital market
  Market is getting over heated; next correction could be severe
  ICICI reneges on market-making word
  Discounting versus speculation