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Saturday, April 25, 1998

Market Briefing 

FE NEWS SERVICE  
BSE hikes margin on Videocon Intl shares: The BSE has decided to increase the carryover margin payable for transactions in the equity shares of Videocon International from the current level of 20 per cent to 25 per cent with effect from April 27. This revision would be applicable to the settlement ended April 24 and the settlement beginning April 27.

Trishul Investments buys 7 lakh Raasi shares: Trishul Investments has purchased seven lakh equity shares of Rs 10 each of Raasi Cement, constituting 4.29 per cent of the paid-up share capital of the latter, at Rs 250 per share. The company has informed the BSE about the same on April 23.

HLL final dividend payout: Hindustan Lever has intimated the BSE that the final dividend of Rs 9.50 will be paid only to those persons whose name appears in the list of beneficial holders as on April 1, as intimated by the National Securities Depository Ltd (NSDL).

BSE to unveil new BOLT TWS version: BSE has decided to implement a new version ofBOLT trader workstations (TWSs) with effect from April 27. The new TWSs have been designed to automatically deactivate a broker's trading rights on reaching 100 per cent of their intra-day trading limit. However, the trading system will continue to issue the warning message as soon as the broker reaches 80 per cent and 90 per cent of his intra-day trading limit. Further, the exchange has also decided to levy a fine of Rs 5,000 if the broker fails to pay the additional capital on the day of the violation.

BSE revises pay-in date: The market operations sub-committee of BSE has decided to reschedule the pay-in and pay-out days for the settlement ended April 24 on account of a holiday on the BSE on April 28 and May 1. Accordingly, the pay-in will be held on April 30 and pay-out on May 2.

Alkyl Amines board meet: The board of Alkyl Amines Chemicals Ltd will meet on May 29 to take on record the unaudited financial results (provisional) for the six months ended March 31, 1998.

Nifty loses 8points: Share prices fell moderately on the NSE on Friday on increased selling pressure. The NSE-50 Index settled at 1,173.80, down 8.30 points from the previous close of 1,182.10. The Mid-cap Index fell by 28.65 points to close at 1,619.20. The exchange reported a total turnover of Rs 1,726.09 crore.

CSE shares end down: Equities lost further ground on the Calcutta Stock Exchange on Friday due to massive offloading by operators. But shortly after mid-session, buyers emerged in the market, aiding a rally which wiped out a good part of the losses. The 40-share CSE Index finished at 2,269.39 points.

MSE Index up 13 points: Most equities declined further on the Madras Stock Exchange on Friday. The MSE Index rose by 12.96 points to close at 4,260.43 points. ITC moved up by Rs 3.05 to Rs 771.90, Satyam Computer Rs 13.80 to Rs 459.85, SBI Rs 2.55 to Rs 292.95 and Reliance at Rs 191.35. Software Solution declined by Rs 29.05 to Rs 268.85, Telco Rs 3.75 to Rs 277 and Tisco Rs 6 to Rs151.85.

Skindia Index down 1.72%: The Skindia GDR Index dropped by 1.72 per cent from 957.87 to 941.43 on April 23. The Skindia GDR Index p/e ratio was 20.39 on April 23 compared with 20.80 on April 22. The top gainers were SIV Industries, Spic and SAIL which quoted at $0.75 ($0.55), $5.25 ($5.15) and $5.55 ($5.45) respectively. Losers included Arvind Mills, Hindalco and Crompton Greaves.

Call rate ends at 5.50%: The inter-bank call money market witnessed hectic activity for short-term loans on Friday. The rate opened steady at 6.75-7.00 per cent on good demand for government securities, came down gradually to close at 5.00-5.50 per cent.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.



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