Tuesday, October 20, 1998
Samvat 2055 fails to shrug off bear overhang, Sensex sputters in range
Samvat 2055 came in without much of a spark, but lit up a ray of hope with the indices not falling. The trading was lacklustre with the Sensex closing at 2,853.27 points, registering a net gain of 5.16 points. The S&P CNX Nifty index, however, closed a shade lower at 831.70 points, scoring a net loss of 7.80 points on account of the penultimate day of its settlement.
ONGC focuses on cost reduction through new technology
Over two decades ago, when the Oil and Natural Gas Corporation (ONGC) discovered Bombay High, a month's production from this field was enough to offset the cost of equipment installation. This, unfortunately, does not hold good any longer what with output falling at the field and ONGC's priorities changing over the years.
IDFC not to go ahead with Rs 400 cr maiden bond issue
The Infrastructure Development Finance Company has decided to call off its proposed Rs 400-crore maiden bond issue scheduled for this month. IDFC's fund requirement will, instead, be met by borrowing from State Bank of India's Resurgent India Bond kitty, sources said.
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