SEBI cancels Global Finance registration: SEBI has cancelled the certificate of registration of category I merchant banker Global Finance Corporation Ltd with effect from May 14, 1998. Global Finance's certificate has been cancelled for not exercising due diligence while filing offer documents with it, SEBI said in a statement on Wednesday.

Himani, Emami merger cleared: The shareholders of Himani Ltd have unanimously approved the amalgmation of Emami Ltd with the company.

Nestle board approves Donati appointment: The board of directors of Nestle India Ltd have, subjectto necessary approvals, approved the appointment of Carto Donati as the managing director of the company. Donati will take over as the MD on July 1.

NSE suspends 5 members: NSE has suspended the following trading members with effect from June 3 due to their failure to meet the obligations and liabilities of the exchange. The members are Dynasty Securities, RAS Brokerage, Lunar Holdings, HM Desai Securities and Ramakrishna Equity Fund.

Transactions suspended in 3 stocks: Dealings in the shares of three companies will be suspended from June 8 till further notice due to non-compliance with the listing requirements of the exchange. The companies are Bhiwani Denim & Apparels, Dunlop India and Fidelity Finance Ltd.

Dealings to resume in 6 scrips: Dealings in the securities of six companies will resume on June 8. The dealings were suspended on account of non-compliance by these companies with the listing requirements of the exchange. The companies are Blue Circle Industrial Services,Esskayjay Ispat, Gummadi Industries, Lee & Nee Softwares (Exports), Ravraj Impex Ltd and Transocenic Properties Ltd.

Alok Textile to issue preference shares: The board of Alok Textile Industries has decided to increase the authorised share capital of the company from Rs 45 crore to Rs 75 crore to accommodate the possibility of issuing preference/equity shares to different entities. The company has also decided to make a preferential issue of 22.5 lakh equity shares of Rs 10 each at a premium of Rs 10 per share to the core promoters of the company.

Nifty up 14 points: Equities staged a smart recovery on the NSE on Wednesday following late buying support by financial institutions as well as investors. The NSE-50 Index settled at 1,033.90 points, up 14.30 points over the previous close. The Mid-cap Index, however, eased by 2 points to end at 1,524.30 points. The total volume of business was marginally down at Rs 2,178.23 crore.

DSE shares gain ground: Largescale buying by domesticfinancial institutions, led by UTI, reversed an early bearish trend on the Delhi Stock Exchange on Wednesday. Tisco shot up by Rs 6.60, or nearly 4 per cent, to Rs 161.60. Reliance rallied by Rs 7.30 to Rs 166.30. However, ACC lost another Rs 18 to close at Rs 1,630 on profit-taking.

CSE shares improve: Equities improved on the Calcutta Stock Exchange on Wednesday on buying in select scrips. Tisco and Tata Tea appreciated to close at Rs 160.50 and Rs 339.50 respectively on active support. The recovery aided the 40-share CSE Index to finish a shade higher at 2,049.74 points against the day's best of 2,054.31 and low of 2,010.27 points.

MSE Index recovers by 49 points: Pivotals like ITC and Reliance led a smart recovery on the Madras Stock Exchange on Wednesday that helped other equities bounce back from their recent lows. The MSE Share Price Index registered a rise of 49.28 points to close at 4,127.80 points. Reliance rallied by Rs 8.80 to Rs 166.35 and ITC by Rs 15.40 to Rs 654.80.

NSEcompletes settlement: The NSE completed its 184th settlement on Wednesday valued at Rs 1,572.93 crore for securities and Rs 253.69 crore in funds. The quantity of securities which were settled through the dematerialised mode was 30.28 lakh valued at Rs 58.83 crore. The total value of shares traded in the depository segment was Rs 12.61 crore during the period May 20-26. The total value of the settlement for the same was Rs 10.75 crore.

Skindia Index down 3.10%: The Skindia GDR Index dropped by 3.10 per cent from 736.26 to 713.46 on June 2. The Skindia GDR Index p/e ratio was 16.27 on June 2 compared with 16.75 on June 1. The top gainers were Indo Gulf, CESC and Crompton Greaves which quoted at $1.00 ($0.85), $1.10 ($0.95) and $1.50 ($1.35). Losers included Mahindra & Mahindra, BSES and Indian Hotels.

Call rates hover at 6%: The overnight call money market witnessed a fairly steady trend on Wednesday. The call rates hovered around 6-6.05 per cent for most part of the day owing to ampleloose liquidity in the system to meet borrowers' requirements. The market ended on a squarish note, dealers said.

Rupee steady: The inter-bank forex market continued to be listless on Wednesday. The rupee opened at 41.79 against the dollar, compared with its previous close of 41.77. In later trades, the rupee weakened to 41.80, which was also the dollar's high for the day. At close, the rupee had recovered to 41.78.

Silver spurts, gold improves: Silver prices recovered sharply on Wednesday following fresh industrial support. Silver of .999 fineness and tenderable silver were up by Rs 105 each to close at Rs 7,620 and Rs 7,625 respectively. Standard and 22-carat gold improved by Rs 20 each to close at Rs 4,200 and Rs 3,885.

Groundnut oil prices end up: Groundnut oil prices flared up on Wednesday following heavy local demand. Groundnut oil jumped to Rs 445 from Rs 438, castoroil commercial rose to Rs 301 from Rs 297.