Sebi asks Yogiware Fabrics to refund issue proceeds: Sebi has ordered Yogiware Fabrics, a Surat-based company, to refund the subscription amount collected by it through its public issue, along with interest at the rate of 15 per cent. The company came out with its maiden issue for 60.49 lakh equity shares of Rs 10 each at par in March 1997. A complaint received by Sebi alleging serious irregularities and subsequentinvestigations brought to the light the fact that the issue was subscribed to the extent of only 6.5 per cent of the total public offering. YFL arranged for the remaining 93 per cent after the closure of the issue from a financier, the regulator said.

DCA calls GMM promoters for personal hearing: The Department of Company Affairs, as directed by the Andhra Pradesh high court, has called the promoters of Gujarat Machinery Manufacturers for a personal hearing on June 30. GMM is locked in a court battle over its open offer to takeover NILE Ltd.

`JRD Finance not related to Tata group': The Tata group, which has been led for a better part of the twentieth century by the great patriarch, the late JRD Tata, has clarified to The Financial Express that the group is not related in any way with JRD Finance, the company which is coming out with a public issue. "We have read about the public issue in the press, and we must communicate that we have nothing to do with the company," said a seniorTata group executive.

CSE shares end higher: Share prices continued to rise further on the Calcutta Stock Exchange on Thursday following higher Mumbai advices and shortcovering. Brokers also reported buying by institutions. The 40-share CSE Index closed at 1,799.40 points with the day's best and worst levels being 1,852.20 and 1,779.82 points respectively. Tisco ended at Rs 126.40, Telco at Rs 178.10, Tata Tea at Rs 294.90, ACC at Rs 1,227, L&T at Rs 223.20, Reliance at Rs 146.20 and SBI at Rs 210.40.

DSE Index up 9 points: Share prices moved up on the Delhi Stock Exchange on Thursday following sustained buying by speculators and domestic financial institutions on hopes that the government would allow buy back of shares by companies in a bid to boost market sentiment. Foreign funds, too, made purchases. The DSE Sensitive Index ended 8.52 points higher at 697.87 points.

MSE Index up 24 points: Equities improved further on the Madras Stock Exchange on Thursday following continuedbuying support. Upcountry advices aided sentiment and helped the market rally. The MSE Share Price Index gained 24.02 points to settle at 3,736.13 points. Reliance moved up by Rs 3.95 to close at Rs 147.80. Satyam Computer ended at Rs 381.15 (Rs 346.60).

OTCEI Index ends unchanged: Prices ended on a steady note on the OTCEI on Thursday following restricted activity. The OTCEI Composite Index opened steady at 114.33 points and closed at the same level after moving in a narrow range.

Demat turnover at Rs 3.78 cr: A total of 1.62 lakh shares valued at Rs 3.78 crore were traded in the demat segments of the NSE and BSE on Thursday. On the NSE, 82,572 shares of SBI valued at Rs 171.91 lakh changed hands, Reliance saw 8,650 shares valued at Rs 12.67 lakh change hands and L&T reported trades in 4,305 shares valued at Rs 9.73 lakh. On the BSE, SBI reported trades in 50 shares valued at Rs 10,000.

NSE debt market turnover at Rs 159 cr: The wholesale debt market of the NSE witnessed tradingworth Rs 158.58 crore. The 2001 security was traded for Rs 45 crore at a weighted yield of 11.34 per cent. The 11 per cent government loan maturing in 2002 was traded for Rs 13 crore at a weighted yield of 11.46 per cent. The 364-day treasury bills maturing on July 3, 1998, were traded for Rs 9.50 crore at a weighted yield of 7.10 per cent.

Skindia Index up 1.55%: The Skindia GDR Index moved up by 1.55 per cent from 601.76 to 611.10 on June 24. The Skindia GDR Index p/e ratio was 14.78 on June 24 compared with 14.54 on June 23. The top gainers were BSES, Bajaj Auto and VSNL which quoted at $10.15 ($9.50), $12.90 ($12.25) and $9.50 ($9.05) respectively. Losers included Bombay Dyeing, Telco and Gujarat Ambuja.

Call rates end at 7.25%: The overnight rates remained easy on Thursday. The call rates opened at 7.50-7.75 per cent, compared with their previous close of 7.75-8 per cent. The rates ruled at 7.00-8.00 per cent during the day and finally closed at 7.00-7.25 per cent. According to dealers,traditional lenders were missing from the market.

Rupee slips against dollar: The spot rupee was volatile on Thursday as it touched an intra-day high of 42.50 before weakening to close at 42.70/72 -- marginally weaker than its previous close of 42.68/70. Dealers said that the rupee opened at 42.65/70, slightly stronger than its previous close, and strengthened with corporates bringing in dollars and importers abstaining from buying.

Silver, gold prices dip: Both the precious metals declined moderately on Thursday. Silver of .999 fineness and raw silver drifted lower by Rs 40 and Rs 45 to close at Rs 7,895 and Rs 7,770 per kg respectively on the lack of buying support. Standard and 22-carat gold eased by Rs 5 each to settle at Rs 4,265 and Rs 3,945 per 10 gm respectively.

Sugar rangebound: Sugar prices moved in a narrow band on Thursday. Small sugar quality S-30 closed at Rs 1,450/1,463 (Rs 1,450/1,468) and medium sugar quality M-30 ended at Rs 1,470/1,505 (Rs1,470/1,510).

Groundnut oil prices improve: Groundnut oil prices gained further ground on Thursday following thin supplies. Groundnut oil rose by Rs 5 to end at Rs 475. Groundnut bold remained steady at Rs 2,040. Imported palm oil eased by a rupee to end at Rs 372 on good arrivals.