The Indian Express -- Business

Saturday, June 21 1997

FOREX RATES INDICES STOCK

Overseas investment norms relaxed

The government has allowed corporates to freely invest up to $15 million raised through export earnings without taking permission from the Reserve Bank of India. Under the liberalised overseas investment guidelines announced yesterday, corporates have also been permitted to invest abroad a maximum of 50% of GDRs to be raised.

BSE revives Remisier system

The Bombay Stock Exchange (BSE) has decided to revive the institution of Remisier who would be engaged by members to solicit business in securities on commission basis.

Nocil profits, sales decline

National Organic Chemical Industries Ltd (Nocil), belonging to the Arvind Mafatlal group, has posted a 34.38% drop in net profit to Rs 59.81 crore for the year ended March 1997 from Rs 91.15 crore last year.

ACMA for options on export target

Bizbits -- Finolex to pay 55%

Verma panel divided over carry-forward system

First Re currency swap deal struck

Nod for Mitsubishi's mega project

Daewoo distances from CRB Caps

DCA to vet Ranbaxy share sale