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Thursday, April 16, 1998
  Wages of scare
The BJP government has found it convenient to let itself be scared by north India's wheat lobby whose cause is espoused by the Akalis, a member of the ruling coalition in Delhi. The CACP recommended a minimum support price of Rs 455 per quintal but the government has offered a bonus of Rs 55 per quintal taking the MSP to Rs 510, thus guaranteeing the grower a return of over 40%.
  A more rational rally
The 30% jump in the stockmarkets since end-January has been eye-catching, especially when seen against all the breast-beating about the slowdown in the economy. But although market movements are supposed to lead the real economy, rallies have often proved to be nothing but front-running by traders looking for a quick buck.

Credit offtake to grow further
The last financial year has, in general, been good for the banking industry, never mind the Reserve Bank of India's tight money policy announced on January 16 to quell the falling rupee. The total funds flow to the commercial sector during 1997-98 grew to 18% against 11.6% in the previous year. However, the banking sector still missed the advance growth target set by the RBI by a wide margin.
Industry must improve local oilseeds supply
High level bureaucrats are usually surrounded by industry representatives at public functions and seminars. But on a Sunday afternoon in Jaipur, where the organisers of the 19th All India Rabi Seminar had invited over 1,000 representatives of the edible oil and oilseeds industry from across the country, the TMOP (Technology Mission on Oilseeds Promotion) joint secretary K Arya was almost left alone after he delivered the keynote address.


LIC

Syndicate Bank

NCPRB

 
Jain Irrigation: Making amends
For more than a year Jain Irrigation Systems, gradually began losing the confidence of its shareholders and of the stock market as a whole. For the most part, during the last one and a half years the management could not explain the deteriorating state of affairs to the shareholders and so there was little understanding of what was really happening at JISL.

The Index
Reports indicate that the promoters of Nagarjuna Fertilizers & Chemicals (NFCL), the Rajus, fear a takeover bid. To keep the predators at bay, they have decided to increase their stake in the company from 29% to 42%. The preferential issue route that they are planning to adopt for this may not be in the best interests of all the shareholders.