Monday, September 28, 1998
Depository targets 100 recalcitrant companies
The National Securities Depository Ltd (NSDL) is targeting a 100 and odd companies which have not signed up with the depository to offer the facility of dematerialisation to their shareholders. The National Stock Exchange (NSE) has submitted the list of the companies to the depository.
Methanol producers hit by cheap imports
Methanol manufacturers in India are in a fix with the continuous reduction in international prices. Landed prices now works out to be around $94 per tonne compared with $200 per tonne in August 1997. Imports during the first six months of the current year have already touched 55,000 tonnes as against the same figure for the whole of 1997-98.
New York cotton dives to new lows
New York Cotton Exchange futures crumbled from a barrage of brisk speculative selling to end lower last week, with the absence of buyers weighing heavily on the market. Key December cotton tumbled 1.63 cents to end at 74.44 cents a lb, having ranged between 75.79 and 73.80 cents. Spot October dropped 2.13 cents to close at 71.88 cents.
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