The Financial Express -- Markets

Thursday, July 24 1997

SBI, FIs not to opt for Modern Insulators conversion

The State Bank Bank and the financial institutions led by the Industrial Finance Corporation of India (IFCI) have decided not to exercise the conversion option at par available to them against the Rs 32 crore outstanding loans and the interest due from Modern Insulators Ltd.

Life after CRB muddle: NBFCs rework strategies

Following the CRB episode, Apple Finance Ltd has embarked upon a damage control exercise in order to reassure its depositors as to the security of its deposit schemes. The move is being seen as a bid by the company to boost the confidence of investors.

VSNL domestic float in September, premium tag may be Rs 890

Videsh Sanchar Nigam Ltd (VSNL) is planning a domestic issue of shares priced at Rs 900 some time in September. With a face value of Rs 10, the premium works out to a whopping Rs 890 per share -- the highest premium ever charged by any Indian corporate entity on a public float.

Gilts rally sharp, seen reversing

Mark to market -- HDFC Bank: doing the right thing

Market Round-Up -- Call Money

Sensex sustains rally, next correction likely at 4,450

NSE to step up pre-verification of securities

Tokyo bonds rise on rate hopes

RIL hikes POY price; sugar firms up; copper, nickel suffer

Jardine, Morgan Stanley offload stake in BOC

Badla ban fueled speculation: BSE report

Tata Core Sector Equity Fund worst performer in stable

Canadian funds management firm to float $20m India Excel Fund

Market Briefing -- CSE member trapped in SBI counter

European bond markets may outperform US treasuries