Transmedica India hopes rights issue will give it a shot in the arm
Chennai-based Transmedica (India) Ltd, manufacturer of the Transmed brand of disposable syringes, has planned a simultaneous but delinked issue of rights and cumulative convertible preference shares (CCPS) aggregating Rs 14.72 crore. Transmedica has drawn up a three-phase expansion project to take the existing 49 million syringes per annum capacity to 400 million.
Badla rates up at 42%
Annualised carryforward rates were up at the Bombay Stock Exchange (BSE) averaging 40-42% in most securities and touching levels in excess of 100% in some scrips during the day yesterday. Dealers attributed the high badla rates to excessive overbought positions.
Sugar scrips hit circuit-breakers as market reveals sweet tooth
Sugar scrips have suddenly turned sweet. In the last two days, the market witnessed good buying in this sector with most scrips hitting circuit breakers. The low pricing of most of the scrips resulted in a price freeze and this in turn saw a drop in the number of transactions.
Reserve Bank mops up Rs 8,364 cr through fixed rate four-day repo
The Reserve Bank of India (RBI) mopped up Rs 8,364 crore through the fixed rate four-day repo. This is the highest amount mopped up by the apex bank since the introduction of repos in December 1996. It also pierces the Rs 8,000 crore barrier in repo mop up for the first time. The previous highest was Rs 7,495 crore on April 7, 1998.
SEC clears new circuit-breaker trigger levels
The Securities and Exchange Commission (SEC) said on Friday it had approved new circuit breaker trigger levels for one-day declines of 10, 20 and 30% in the Dow Jones Industrial Average.The new levels, which go into effect on April 15, were proposed by the securities exchanges and the National Association of Securities' Dealers to modify their rules on cross-market trading halts during extreme market volatility.
