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Saturday, May 9, 1998

	IDBI rules out prime-rate cut The Industrial Development Bank of India (IDBI) has ruled out any cut in its prime lending rate (PLR) for the time being despite the one percentage point cut in the bank rate and the repo rate announced in the Reserve Bank of India's April credit policy.		BSE sees future in derivatives, to set up separate segment In an about turn of sorts, the Bombay Stock Exchange (BSE) has decided to go the whole hog in introducing derivatives at the bourse in line with the recommendations of the LC Gupta committee which is currently awaiting the nod from the Sebi board. The exchange has decided to set up an entire derivatives segment to be headed by professionals.
	Global Trust Bank raises $10m via subordinated debt Global Trust Bank (GTB) has raised $10 million through a subordinated debt loan, subscribed to by International Finance Corporation (IFC). This will boost the tier II capital of the Secunderabad-based bank and push up its capital adequacy ratio by 1.5 percentage point to over 11 per cent.		SEBI panel draws up broad definition for collective investment schemes The SA Dave committee appointed by Sebi to work out the guidelines for collective investment schemes on Friday has drafted the definition of such schemes. In a related development, the representatives of credit-rating agencies are likely to meet Sebi officials on May 13 to discuss certain issues related to the rating of such companies, which has been based on a report presented by the ministry of agriculture.

Krebs Biochemicals set to issue preferential warrants
The board of directors of Krebs Biochemicals (KBL) today approved the proposal to issue 14,00,000 convertible warrants to the core promoter group and associates including the US-based Ganes Chemicals Inc by increasing their collective holdings in the company from 37.67 per cent to 52.21 per cent.

RBI fixes six-year paper coupon at 11.5%
The Reserve Bank of India (RBI) fixed the coupon of the six-year paper, auctioned on Friday, at 11.5 per cent, in line with the market expectations. The Rs 4,000-crore paper was oversubscribed by 1.3 times. The security was traded at a premium of 20 paise in the secondary market, indicating a yield of 11.45 per cent.

Tea categories see a decline in prices
Demat shares witness high deliveries
Weak demand hits spices; sugar improves
Maiden dividend from Magnum Multiplier '93
Results Counter
A new address for NYSE
Dow maintains downtrend
Abhishek Spinfab issue may devolve
Sensex drops 48 points as funds stay away
Raymond's result beats market expectations
Fiscal '98 sees only 20% listings trade actively on BSE
Analysts expect Rs 32cr net from Carrier Aircon
Exide Industries preparing for a recharge
Market Briefing
Crisil assigns P1+ rating to ICI India debt plan
Pond's dividend held up as irate shareholders force poll
Bank of Baroda undercuts rivals, pegs prime rate at 12.75%
Market Round-Up
Scrips decline on selling pressure
Split widens over direction of Japan's interest rates
Fund Update
Equities lose further groundon fresh bull liquidation
Prima Plus appreciates by 22.39% post-revamp
Black pepper prices record marginal fall