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Tuesday, April 14, 1998

Stock Update Forex Update
  Dr Beck to dole out 138% special interim dividend
Shareholders of Dr Beck & Col have every reason to smile. The company has recently announced a high special interim dividend of 138.5% after spinning off one of its divisions. This puts Dr Beck & Col in the same league as Glaxo (India) and Lakme.
  Kochi SE gets Sebi nod for modified badla
The Cochin Stock Exchange has got the Securities and Exchange Board of India's (SEBI) permission to introduce modified carryforward system subject to the conditions stipulated by the regulator. This makes CSE the first stock exchange in South India to get SEBI clearance for introducing the revised badla system.

SBI, BoB to mark-to-market 100% gilts portfolio
State Bank of India, Bank of Baroda, Corporation Bank and Oriental Bank of Commerce plan to mark-to-market 100% of their investment portfolio using the depreciation benefit arising out of lower yield-to-maturity (YTM) of dated papers. Other public sector banks such as Bank of India, Union Bank of India and Dena Bank plan to play it safe and not to push the entire investment portfolio into the current category taking advantage of lower YTM this year.
GIC MF plans Rs 500 cr mop-up in '98-99
GIC Mutual Fund is targeting a mobilisation of Rs 500 crore in fiscal 1998-99. This would lead to an increase of 50 per cent in the fund's corpus to Rs 1,500 crore from the present Rs 1,000 crore.


LIC

Syndicate Bank

NCPRB

 
Sensex may lose another 50 points
The Sensex fell by 32 points on Monday; but despite that the index has not broken down through the uptrend support line. As the market opens on Wednesday after a holiday on Tuesday, the index has the potential to lose another 50 points. But on the contrary the beginning of the new week at NSE could do the trick of keeping the Sensex up, supported on the trend line.

Erratic badla rates trigger panic selling on Mumbai bourse
Erratic growth in the carryforward rates, coupled with a number of stocks attracting backwardation and the last day on the National Stock Exchange saw panic selling at the index-based counters on Monday. Reflecting the uncertain mood of the market in the absence of institutional support, the BSE-30 index closed at 4,085.93, registering a loss of 32.36 points.

 


  RBI cuts YTM on 10-yr gilt to 12.15%
  UTI's 5 close-ended funds post negative returns
  Bulls refuse to give up on paper stocks
  Stringent disclosure norms by firms needed
  Financial shares hog the limelight on New York bourse
  Market unhappy with Lakme's dividend largesse of Rs 60 a share
  Crisil downgrades Flex Engg, Flex Industries debt plans
  Asian currencies in holiday mood, remain steady in thin trading
  Market Round-up
  End in sight for Brent futures contract in Asia
  Market Briefing
  Silver bullish, gold quiet; milling wheat spurt
  Commodity Briefing
  State-run banks head for securities sold by foreign, private banks
  Bank stocks stay unmoved
  Bankers want independent body to decide YTM