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FINANCIAL EXPRESS FRONT PAGE

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Friday, March 26, 1999

Stock Update Forex Update

Parekh forced me to accept shares as margins'
Bombay Stock Exchange (BSE) executive director RC Mathur has, in his reply to Sebi's showcause notice on the payments crisis, alleged that BSE president JC Parekh and the then vice-president, Rajendra Banthia, forced him to accept adhoc margins in the form of shares.

Bakelite Hylam planning Rs 6.5-crore rights issue
To augment long term working capital, the Hyderabad-based Bakelite Hylam Ltd (BHL), a Duncan Goenka group company, has decided to go for a rights offer. The company proposes to mop-up at least Rs 6.50 crore through rights route.

Apollo Tyres board to decide fate of Big Bull shares soon
The board of directors of Apollo Tyres will meet shortly to decide the route to be adopted for purchase of 46 lakh shares held by Harshad Mehta following the Special Court's judgment on Wednesday.


Inspirations furnishing fabrics


  Strong yen, low prices worry Japan smelters
  State Bank offers `comfort' to Moody's, plans to hike Icra stake
  BHL plans to issue equity to existing shareholders on rights basis
  Government to lose Rs 36 crore in Nalco divestment
  RBI to clear up to $10-million ECBs
  Election for BSE governing board on March 25
  119% rise in Infosys' net profit likely
  Times are a-changing at SBI Mutual Fund
  CSE bans vyaj badla in scrips entering the demat mode
  Abbot Labs, Hindustan Glass file offer document with SEBI
  NY gold range-bound in thin trading



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