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Corporate Economy Expressions Markets Leisure 06 February 1998   BSE sees drop in upcountry turnover: to sign MoUs with 4 exchanges soon The contribution by centres outside Mumbai to the total turnover of the Bombay Stock Exchange (BSE) has seen a drop in January. This has prompted the exchange to take up the expansion of its specified group to boost carryforward trading across these centres. In a related move, BSE is set to formalise MoUs with four regional exchanges - Calcutta, Rajkot, Ahmedabad and Pune - by the end of February.   SmithKline Pharma does a jig on bonus news The news that the board of SmithKline Beecham Pharmaceuticals will consider an issue of bonus shares and dividend at a meeting scheduled for February 18 saw the scrip rise by over 9% to touch an intra-day high of Rs 622.25, a new 52-week high, on the BSE on Thursday. The board is also set to consider the company's annual accounts. RBI move keeps gilts market dull The Reserve Bank of India's decision to enter in sell/buy transactions with the banks -- which triggered firming up of forward rates -- has virtually turned the securities market dead with both buyers and sellers staying away from it. Banks which look to the apex bank for interest rate movement are perplexed as they do not understand what the RBI has in mind. Weaker dollar keeps Asian currencies steady Asian currencies hovered in well-worn ranges on Thursday as activity dwindled to commercial flows after the previous day's sharp fall caught many interbank traders short of dollars. The US dollar's drop to three-month lows against the yen overnight kept Asian currencies on relatively firm footing, but they showed little inclination to revisit recent highs.   Jump in PAT fails to buoy IndusInd on BSE The battering of IndusInd Bank scrip continues despite announcement of impressive results by the bank for the nine-months period ended December 31, 1997. Even after five days since its debut on the BSE on January 29, the scrip is still languishing around Rs 38, a discount of 16 per cent to its issue price of Rs 45. OCL India seeks cut in debenture premium OCL India has approached the court to reduce premium on outstanding fully convertible debentures. As a result, OCL India's share capital base is all set to undergo a contraction. OCL will not call for the premium payable on the third and final instalment of Rs 35 for full conversion of outstanding zero coupon convertible debentures.     Promoters to raise stake in Jaipur Polyspin in event of undersubscription   "Foreign pull-out from Indian bourses at an end"   Silver spurts, gold recovers; g'nut oil weak   Yarn producers caught out in a web   Market Briefing   Sensex may maintain level   Bajaj Auto   Brokers fall over one another to woo investors, cut commission   Pune Stock Exchange may shift back to own premises   Timorese make modest contribution to "I love rupiah" campaign   Tony Blair backs role of IMF in Asian crisis   Market Round-up