Friday, June 26, 1998
Ban on short sales revoked
With the Sensex recovering by 171 points in the last two days, the Securities and Exchange Board of India (Sebi) has decided to lift the ban imposed on short sales from July 6. "Restrictions on short sales would be lifted from July 6. However, while doing this we will ensure that special margins are imposed on volatile stocks," said Sebi chairman D R Mehta.
Disinvestment targets not to be affected by turmoil: Montek
The Union government is confident of achieving the disinvestment target of Rs 5,000 crore set for the current fiscal notwithstanding the recent turmoil in domestic and global financial markets, finance secretary Montek Singh Ahluwalia told the reporters at Euromoney conference held in the capital on Thursday. A mechanism is being evolved for each company that is to be divested and government would approach the market with these issues to buoy investor sentiment, he said.
Novartis net profit zooms by 106%
Novartis India, the company formed by the merger of Hindustan Ciba-Geigy and Sandoz India, has reported a 106 per cent jump in net profit for the year ended March 31, 1998 at Rs 38.3 crore as against Rs 18.6 crore in the previous year. The board has recommended a dividend of Rs 4 per share as against Rs 3.2 the previous year.
|
|
