Pune Bourse to auction 5 membership cardsThe Pune Stock Exchange will not insist on a minimum floor price for the next auction of membership cards of defaulting brokers. With five PSE membership cards up for sale, the details of the auction will be announced in the first week of April, sources said. The previous auction held six months back had fixed a minimum floor price of Rs 10 lakh per card. "Following poor response due to depressed market conditions, we are not insisting on a minimum price level," said PSE executive director PL Kadlaskar.
UTI sells 4.49 lakh Knoll Pharma shares: UTI has sold 4,49,150 shares of Knoll Pharmaceuticals, representing over one per cent of the company's paid-up capital. The shares have been sold by the Trust pursuant to the acceptance of its offering against a cash offer of Rs 661 per share made by Lupharma GmbH, in terms of the offer document dated February 2, 1998, issued under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,1997.
HB AMC merger with Creditcapital cleared: The shareholders of Creditcapital Asset Management Company Ltd unanimously approved the merger of HB Asset Management Company Ltd with Creditcapital AMC on March 27. This unanimous approval will now be considered by the Mumbai high court for confirmation of the scheme of merger, after which a formal application will be launched with SEBI. After the proposed merger, Lazard Creditcapital will continue to maintain a majority controlling interest in the company.
Changes in accounting year of companies: The following companies have intimated the BSE about the change in their accounting period: Mold Tek Plastics (March 31, 1997, to September 30, 1998), DCL Finance (March 31, 1997 to June 30, 1998), Olympia Capitals (September 30, 1996 to March 31, 1998), Olympia Industries (September 30, 1996 to March 31, 1998), Real Strips (March 31, 1997 to June 30, 1998), 21st Century Management Services (June 30, 1997 to March 31, 1998), Allianz Securities (May31, 1997 to March 31, 1998), Kirloskar Investments & Finance (March 31, 1997 to September 30, 1998), Ashirwad Capital (March 31, 1997 to June 30, 1998), Flamour Finance & Securities (March 31, 1997 to June 30, 1998) and Vishal Papertech (India) (December 31, 1996 to March 31, 1998).
BSE slaps special margin on 5 scrips: BSE has imposed special margins on the following stocks from March 30: Barasia Holdings (Rs 25), Haryana Metals (Rs 50), Indo Rama Synthetics (Rs 5), Sesa Goa (Rs 100) and Tasty Bite (Rs 6).
CSE shares end down: Share prices lost ground on the Calcutta Stock Exchange on Monday, thanks to selling by operators ahead of the last day of the settlement on the NSE on Tuesday. The 50-share CSE Index fluctuated between 112.87 points and 110.43 points before closing at 110.45 points. ACC eased to Rs 1,452, Tisco dipped at Rs 149 and ITC to Rs 698.90.
DSE Index down 3 points: In a volatile trading session, stocks ended mixed on the Delhi Stock Exchange on Monday. Brokers saidthe market, which opened on a firm note following the vote of confidence in favour of the BJP, quickly met with selling pressure from speculators. The DSE Sensitive Index lost 3.31 points to settle at 845.59 points.
MSE Index loses 46 points: Equities moved down on the Madras Stock Exchange on Monday. The MSE Share Price Index declined by 45.58 points to close at 4,046.92 points. ACC lost Rs 15 to Rs 1,460, ITC Rs 17.40 to Rs 697.50, L&T Rs 3 to Rs 243.50, Reliance Rs 3.40 to Rs 177.40 and SBI Rs 5.45 to Rs 279.60. Satyam Computer lost Rs 26 to end at Rs 234.80.
BgSE shares end down: Share prices witnessed a downtrend at the Bangalore Stock Exchange on Monday. According to marketmen, the overall trend was still weak with no fresh advices forthcoming. The turnover on the bourse stood at Rs 17.71 crore. ITC fell sharply to Rs 702.05 from Rs 721 while BFL Software was marginally better at Rs 140.70 (Rs 140).
Skindia Index up marginally: The Skindia GDR Index moved up by 0.09 per centfrom 952.44 to 953.25 on March 27. The Skindia GDR Index p/e ratio was 20.50 on March 27 compared with 20.46 on March 26. The top gainers were Grasim, SBI and ITC which quoted at $7.88 ($7.75), $19.25 ($19.00) and $25.75 ($25.50) respectively.
Call rate ends at 8.30%: An easy trend prevailed at the interbank call money market on Monday following ample liquidity in the system. The short-term interest rates opened higher at 8-8.15 per cent and ruled within a range of 8.25-8.75 per cent through the session. A large amount of liquidity was sucked out of the system in repos and the rates finally settled to close at 8.10-8.30 per cent, dealers said.
Groundnut oil prices fall: Groundnut oil prices declined on the local oilseeds market on Monday following poor demand coupled with weak Gujarat advices. In the edible section, groundnut oil declined by Rs 3 to settle at Rs 393 while groundnut bold remained steady at Rs 1,970. In the futures section, castorseed June contract closed at Rs 1,272.50 (Rs1,282.50).
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