The Indian Express -- Business

Monday, August 11 1997

FOREX RATES INDICES STOCK

Sebi active after CRB scam

The capital market regulator seems to have turned aggressive after the CRB Capital Markets scam. Securities and Exchange Board of India (SEBI) has started taking various rapid-fire actions against various market intermediaries - mutual funds, merchant bankers and corporates - to prove the point that it is a "vigilant" regulator.

Hindalco plans Rs 1000 cr issue

Hindalco Industries Ltd, belonging to the Aditya Birla group, plans to come out with an equity offering next year to part-finance its integrated aluminium complex in Orissa. The company is contemplating a rights-cum-public issue of around Rs 1,000 crore for its new division, which has been christened Aditya Aluminium.

Alliance Cap's conversion plan approved

The Foreign Investment Promotion Board (FIPB) has approved Alliance Capital Management Corporation's proposal to convert the board of trustees of its mutual fund in India to a trustee company with 100% foreign equity.

IA's 50-seater aircraft plan opposed

Inflation declines further to 4.02 per cent