Wednesday, August 26, 1998
20-stock IT index to make a debut soon
Standard & Poor's has approved the first information technology sector specific index in India. The 20-stock index has been developed by India Index Services & Products Ltd, a joint venture between the National Stock Exchange and Crisil, with which S&P has a licensing agreement. Christened the CNX IT Index, the index has been constructed recently and has been made available to clients.
NSDL paves way for demat of govt paper
The NSDL board which met on Tuesday has paved the way for dematerialisation of government securities with the depository as well as introduction of stock lending and changes in the procedures for dematerialisation. The board has effected the changes in NSDL's bye-laws and these would now be taken to SEBI for its approval.
IndusInd Bank likely to clinch deal with BSE
IndusInd Bank has emerged a strong contender for becoming the second clearing and settlement bank for the Bombay Stock Exchange (BSE). In the wake of the recent settlement related problems at BoI Shareholding, the exchange has decided to spread the activities to various banks. A decision to this effect was taken at BSE's governing board meeting held on August 10.
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