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Drumbeat: Ad Buzzaar
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Saturday, June 27, 1998
SHCIL expects Rs 3 cr revenue from stock-lending
Our Market Bureau
New Delhi, June 26: The Stock Holding Corporation of India Ltd (SHCIL), which is launching a stock-lending scheme in association with UTI within a week, expects to earn a revenue of Rs 3 crore from the new business in the current year. The managing director of SHCIL, BV Goud, said that the scheme would initially be tested with NSE members and later could be extended to members of other bourses. UTI would work out the modalities while SHCIL would be responsible for the operational part of the scheme. The scheme had been worked out in a way that would apportion income from stock lending in a pre-determined ratio which could be between 60:40 and 70:30, Goud said.Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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