UTI seeks back-office accounting role for Stock Holding Corp
The Unit Trust of India (UTI), a key promoter of the Stock Holding Corporation of India Ltd (SHCIL), is all for the country's largest custodian shifting its focus to provide back office accounting assistance rather than concentrate on custodial business. The change in focus has been necessitated by the rapidly changing market environment where trading in paperless shares is becoming the order of the day.

Tata Steel in talks to roll over convertible bonds
Tata Steel has begun negotiations with foreign investors to roll over its foreign currency convertible bonds (FCCBs) which will come up for redemption next March, according to chairman Ratan Naval Tata. If the negotiations do not fructify, the Tata group flagship may end up repaying around Rs 400 crore from its cash earnings in the next fiscal to its FCCB holders.

Sensex plunges 117 points to close below 3,250 points
The current crisis in the Asian markets triggered a fresh selling spree on the local bourses on Thursday with punters liquidating their outstanding positions in the absence of institutional support. The 30-share BSE Sensitive Index fell by 116.81 points to close at 3,227.52 points.

  Overseas investments could not have come at a more opportune time for funds
  Market Briefing
  Sensex likely to test 3,170 level
  Indian Hotels may remain bearish
  Rupee weakens to 42.49-51 a dollar
  Market Round-up
  Commodity Briefing
  Moody's may downgrade Japan's currency ceilings
  CBI closes file on Reliance-Unit Trust Rs 945-cr private-placement deal
  Punters hammer SmithKline Pharma as first-half results belie expectations
  Foreign funds cash in on the arbitrage mantra
  Plantation companies to be structured on the lines of MFs
  US, Japan worries pull Asian markets down
  Unit Trust mops up Rs 80 crore via Master Value Unit Plan
  Jardine meet sees global fund managers head for IT stocks