The Indian Express The Financial Express Latest News Elections '98 Express Investment Week Market Indicators Screen Express Computers Travel & Tourism Advertisers Forum Information Technology Drumbeat: Ad Buzzaar Astrosurf Eco-India Career India Business Forum Match Maker Express Properties

Corporate Economy Expressions Markets Leisure 14 February 1998   3-day repos mopup crosses Rs 6,000 cr The Reserve Bank of India (RBI) on Friday mopped up Rs 6,124 crore through the three-day fixed rate repos, signalling return of stability in the money market. This is the highest amount accepted by the apex bank after the July 17, 1997 three-day repo auction where Rs 6,365 crore was accepted by the apex bank at a cut-off rate of 3.6%.   Geojit Securities to demat shares free of cost Kochi-based Geojit Securities Ltd, the only depository participant in Kerala, has decided not to charge account opening and dematerialisation fees in a bid to woo investors. The free facility would be available to the investors till April. Kothari Prima churns portfolio; on the road to recovery Kothari Prima was the worst performing open-end equity fund in 1997. The fund depreciated by 10.59 per cent and besides Templeton India Growth was the only equity fund to post a negative return in 1997. Prima has depreciated at an annual rate of 17.36 per cent over the past three years. Hoffland denies raising FDs; terms them loan The Company Law Board (CLB) has asked defaulting Hoffland Finance Ltd (HFL) to furnish details of the terms on which it raised money from the public. The CLB directive comes after the company submitted before the board that the money raised by it were loans against securities and not fixed deposits as claimed by its depositors.   HLL pulls Sensex up by 80 points Shortcovering coupled with genuine buying by foreign institutional investors (FIIs) at index-based stocks saw the 30-share BSE Sensitive index surge by 79.64 points to close at 3,373.53 on Friday. The Nifty Index closed higher at 974.55 points, recording a smart recovery of 17.90 points over Thursday's close. Speculation to affect swap ratio calculations Calculating the swap ratio in the proposed merger of Pond's India with Hindustan Lever Limited could be a futile exercise in view of the excessive speculation on the bourses. Estimates of the swap ratio on the basis of the available book value, average market price and future earning prospects is likely to be 7:5 i.e., five shares of HLL for every seven shares held of Pond's.     Sebi, RBI nominees may block Damani bid for extension   BSE A group scrips up to 150   Market on a sectoral revaluation spree   HLL tightens Sensex grip, dwarfs other giants   State Bank of Patiala rating re-affirmed   Rupiah unnerves Asian currencies   LC Gupta committee members upset over delay in finalising report   Reliance Industries may list bonus shares by next week   Market Briefing   "Asian crisis is a failure of market forces"   On-going advisory panel on derivatives proposed   And then there is Hind Lever Chemicals too!   Ironies are dime a dozen on the domestic stockmarkets   The week that was   Market likely to be strong in short term, traders may go long   Await your turn, the best is yet to come   Forex reserve is no immunity to contagion spread   Market Round-Up   Birla Advantage guards capital amidst lacklustre market   Nachmo Knitex offers rights at 43% discount to market price   Value investment on convenience!   Jaipur Polyspin going cheap on bourses