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Sunday, April 19, 1998

Carryforward rate dips to average of 32% 

Our Market Bureau  
Mumbai, April 18: The annualised carry forward rates at the Bombay Stock Exchange (BSE) came down to an average of 32 per cent from an average of 40-42 per cent last week. The rates went up to a high of 43-45 per cent in some scrips and touched a low of 18 per cent towards the close to finally settle at 30-32 per cent.

Carry forward rates had witnessed a high of 100 per cent and more last week. In certain stocks like Infosys Technologies and Satyam Computers the badla rates remained high this week itself topping the 150 per cent mark.

According to brokers, this was on account of a number of financiers who looking at last week's high rates and additional badla of Rs 100 crore last week, entered the market expecting high rates this time around as well. This led to easy finance being available.

The lower rates were also on account of the fact that the high badla rates last week had prompted brokers to square up their positions during the week itself and thus there were not many over-bought positions.

Thescrips that attracted rates on the higher side were of BSES, Garware Polyester, Telco and Tata Chemicals among others. The scrip of Infosys Technologies attracted a very high badla rate of 176.31 per cent and of Satyam computers attracted a high annualised rate of 244 per cent.

The carry forward rate attracted by Reliance was 37.62 per cent, by Tisco 37.41 per cent, by Telco 38.86 per cent, by SBI 36.84 per cent, by ACC of 36.79 per cent, by L&T of 22.46 per cent, by ITC of 34.99 per cent, by Tata Tea 38.78 per cent, by Tata Power of 38.89 per cent, by BSES of 42.11 per cent, by MTNL of 38.06 per cent, by Castrol of 30.25 per cent, Dabur India of 40.44 per cent, by HDFC on the higher side of 39.80 per cent, and by Pentafour computers the annualised rate attracted was 41.45 per cent.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.



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