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Thursday, July 29, 1999

Forex Update

MFs pick up IRFC paper from Deutsche Bank
In an innovative deal, Deutsche Bank recently lent Rs 300 crore to Indian Railways Finance Corporation (IRFC). It has been a win-win situation for the bank.

Institutions oppose ICICI's bid to tap overseas market
Life Insurance Corporation of India, General Insurance Corporation and Unit Trust of India, which together hold 32.8% stake in ICICI Ltd, seem to have expressed reservations to ICICI's global float.

17-yr paper may be auctioned at Rs 100.35
The Rs 2,000-crore 17-year stock is likely to be auctioned at Rs 100.35 to Rs 100.45 on Thursday, money-market dealers said. There has been enough liquidity to see the issue through and the main subscribers to the issue would be the insurance companies and a few banks, dealers said.


Corporate Results


  Euro bears are on the retreat, say analysts
  Market Round-up
  Ashok Leyland, subsidiary chart a similar pattern
  Market gives thumbs down Crisil on poor Q1 show
  Compucom's Rs 10.8 crore IPO to open in September
  Shares on the move
  Market may be steady, but technicals are yet to give a long-term buy signal
  LML -- Right choice in an unsettled market
  Market Briefing
  Market expects poor show from Glaxo
  Amara Raja Batteries -- Shock treatment
  Satyam, Pentafour bring IT stocks back into action
  Wipro scales Rs 5000-peak
  Commodity Briefing



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