The Financial Express -- Markets

Saturday, August 16 1997

GDR market runs out of steam, Skindia sheds 2%

After rallying for three consecutive weeks, activity in the GDR market slowed down. The Skindia GDR index recorded lacklustre movement before finally closing at 82.42 points on August 13, a loss of 2.07% over its previous week's close of 84.16 points.

Shareholders of Aditya Birla's Tanfac quash preferential allotment

Amid ear-shattering accusations, pandemonium reigned supreme as shareholders of the Aditya Birla group company Tanfac Industries Ltd successfully thwarted the proposed preferential allotment to the promoters.

Centre completes 78% of its market borrowing

The Reserve Bank of India has completed 77.94% of the government's borrowing requirement for the year 1997-98. As on August 14, 1997, the government has raised Rs 41,755 crore through one-year treasury bills and government securities, including a private placement of Rs 5,000 crore with RBI.

Scrips dance to Big Bull's Internet tune

Common code of ethics for brokers mooted