Tuesday, December 1, 1998
Unit Trust cup of woes runneth over; 39 schemes' reserves turn negative
It is not just the US-64 scheme which has seen its reserves dip into negative terrain. As on June 30, 1998, as many as 39 schemes of UTI had negative reserves totalling Rs 2,014.631 crore.
SEBI seeks changes in buyback norms
SEBI has recommended certain changes to the buy-back guidelines. The market regulator has recommended changes in the cap put on the companies tapping capital market after completing buy-back and a relaxation of post buy-back debt-equity ratio, apart from seeking explanations regarding the defination of various items including free reserves and securities.
Catholic Syrian Bank's rights issue opens today
The Thrissur-based Catholic Syrian Bank (CSBL) is hitting the market with a Rs 26-crore, 2:3 rights issue on Tuesday to shore up its capital base. However, the bank will set aside 40 per cent of the original issue size, following Reserve Bank of India orders.
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