Tuesday, June 23, 1998
BSE imposes daily margins on purchases
In an attempt to restore market equilibrium and curb excessive volatility in share prices, the Bombay Stock Exchange on Monday night decided to impose a daily margin of 15 per cent on purchase transactions. Beginning from June 23, the exchange has decided to impose a daily margin of 15 per cent on purchase transactions in the 150 specified group stocks, instead of the 10 per cent slapped earlier.
Marico sets its sights on Postman brand
Marico Industries is believed to be keen on acquiring the leading groundnut oil brand, Postman, belonging to the Oomerbhoys. Marico has reportedly sent feelers to the Oomerbhoys for a possible buy out of Postman, owned by the privately-held Ahmed Oomerbhoy. This would give Marico a significant foothold in the packed groundnut-oil segment of the vegetable-oils market.
Hoechst Roussel Vet in asset buy-out deal
Hoechst Roussel Vet (India) has, as part of its strategy to emerge as the group's Asian sourcing base, taken over the assets of Pune-based BAIF Laboratories (BLL). The Rs 12-crore acquisition will catapult HR Vet to third position in the Indian animal-health industry. HR Vet, which was set up in August 1996, is a 100% subsidiary of the HR Vet GmbH, the animal-health outfit of the Hoechst group.
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