SEBI tightens noose on corporates, expands lists of material information
SEBI has tightened the noose on companies by expanding the list of material events impacting a company, information regarding which is needed to be provided to a stock exchange immediately. It has also directed companies to provide unaudited quarterly results from the quarter ended June 1998.
Eight-year paper devolves on PDs
About 59% of the Rs 4,000-crore 8-year government paper auction on Wednesday devolved on primary and satellite dealers as the coupon (cut-off yield), set by the RBI, failed to meet market expectations. In a strategic move to see the issue through, the RBI came to the rescue of six primary dealers (PDs) and 25-and-odd satellite dealers (SDs) by hiking their underwriting fees by 19 paise.
Saurashtra Cement preferential allotment lacks transparency: SEBI
SEBI has found a "prima facie" lack of transparency in the manner in which Saurashtra Cement has made the preferential allotment to the promoters of the company. In a related move, the Bombay Stock Exchange has decided not to list the new shares allotted through the preferential allotment following a response by the company stating that it was a "postal delay" that led to a delay in the information reaching the stock exchanges.
ICICI plans Rs 300cr retail issue on April 27
ICICI will enter the capital market with a Rs 300-crore bond issue on April 27. The issue -- offering three instruments -- will carry a greenshoe option of another Rs 300 crore. The proposed debt issue will be the first tranche of the term-lending institution's umbrella debt programme.
Hearing in HLL case on April 23
The first hearing of Hindustan Lever Ltd (HLL) with the appellate authority on the insider-trading case will be held on Thursday April 23. The company had appealed to the authority against the Securities and Exchange Board of India's (SEBI) verdict, which held HLL guilty of insider trading.
CARE reaffirms triple-A ratings for IDBI, ICICI bond plans
CARE has reaffirmed the triple-A ratings assigned to the bond programmes of the IDBI and ICICI. The Rs 10,000-crore omni bond issue of IDBI has been enhanced to Rs 15,000 crore and the triple-A rating has been retained. It has also retained the triple-A rating of the proposed Rs 6,000-crore unsecured bond programme of ICICI which has been enhanced from Rs 5,200 crore.
