The Indian Express -- Business

Tuesday, December 16 1997

FOREX RATES INDICES STOCK

Re level reasonable: Jalan

Reserve Bank of India governor Bimal Jalan has flashed a signal to the foreign exchange market saying that the prevailing exchange rate of the rupee is "reasonable". Softening the tough position taken just two weeks ago, Jalan said the RBI inspection of various banks operating in the forex market could not detect any violation of norms.

JM, Morgan Stanley float 2 JVs

JM Financial has joined hands with Morgan Stanley India, the Indian arm of Morgan Stanley, Dean Witter, Discover & Co, to float two separate joint ventures to take up investment banking and stock broking activities in India. The new companies will be known as JM Morgan Stanley Ltd (for investment banking activities) and JM Morgan Stanley Securities Ltd (for securities trading activities). The mutual funds management activity of JM, however, has been left out to be managed independently.

Modern, Orkay face delisting

Even as the Chandratre committee set up by the SEBI has come out with a host of sweeping proposals on delisting of shares, the Bombay Stock Exchange (BSE) authorities have threatened to delist about 770 listed companies securities following their failure to pay listing fees for 1997-98. The list includes companies belonging to groups like Modern, Mahadev, Western India group of Nandan Gadgil, the Kedia group, the Tatia group and others.

Re level reasonable

HC orders Jaya to cough up TN loss

Bizbits -- SSI investment limit hiked

Modern, Orkay face delisting

Young Business Achiever Award

JM, Morgan Stanley float 2 JVs

Daley buys more time for Raytheon

FIs toughen stance on PAL-Peugeot

MMS to be open-ended

Asian currencies sink to new depths

Electrolux scouts for excess capacity

Scrips recover marginally