The Financial Express -- News

Sunday, November 23 1997

Badla charges remain subdued at Mumbai bourse

The carryforward charges on the Bombay Stock Exchange (BSE) remained at lower levels. The second settlement of the modified carry forward system (MCFS) saw a further jump in volumes. Outstanding volumes stood at Rs 195 crore, up by 12.7% from last week's position of Rs 173 crore.

Gujral hints at mid-term elections

The chances of rapprochement between the belligerent Congress and the United Front (UF) receded yesterday with both sides taking a harder stance on the Jain Commission fallout. The country seemed to be inexorably heading towards a mid-term poll.

Nirma's book-built issue in choppy waters

The first-ever book-built issue in the Indian market is in trouble under the current depressed market conditions and with one of its co-lead managers already walking out of the issue. Market sources are expecting the bidding process to start only after a month. A meeting has been called on November 25 where Nirma, the book-runner, the co-lead managers and the co-managers will discuss the new strategy on how to handle the issue and when to float it.

Separate agency for textile mills land deals sought

Mecklai Financial in strategic alliance with Billiton Metals