A positive signal
The finance secretary's assurance that disinvestment targets will be met is a positive signal and needs to be followed up by concrete action. There will be no dearth of people who will carp and cavil at the timing of disinvestment decisions, and there will always be politically motivated accusations about the price of disinvestment.

An extended option
The employees stock option plan for Indian software companies linked with ADR/GDR offerings seems only to be an extension of the already existing scheme. This raises the question whether the new scheme was at all necessary in the first place? Presently, a rupee denominated option with a nominal exercise price is in place wherein the employee can exercise the option after a lock-in period of say three to five years.

Buyback props Essel Packaging
Hopes of the provision allowing for buyback of shares being introduced as a amendment to the Companies Act in the near future (now that the proposal is before the Union cabinet), fuelled demand for the Essel Packaging stock yesterday.

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