Burson Martsteller sees negative trend towards India: Burson Marsteller's second quarter 1988 survey of investor sentiment towards emerging markets shows an increasingly negative trend towards India because of the disappointing budget, nuclear testing and a general bearish sentiment towards emerging markets. Six out of the 10 fund managers with exposure to India whowere interviewed between June 3, 1998, and July 3, 1998, were negative towards India, while two were neutral. Only one was positive. Of the 10 fund managers, six were based in the UK, two in Singapore and two in the United States.

Crisil downgrades Ecoplast debt plan: Crisil has downgraded the fixed deposit programme of Ecoplast Ltd to FB from FA-. The revision in rating factors in the heightened business risk of the company owing to significantly lower volume offtakes from key customers, declining sales and profitability trend, eventual write-offs on problem debt accounts and sluggish demand for end-use packaging film impacting the company's growth potential. These concerns are compounded by its small size which makes the company vulnerable to fluctuations in sales and collections from debtors.

Syndicate Bank operating profit soars 85%: Syndicate Bank has announced a quantum jump of 85 per cent in its operating profit during the first quarter of the current financial year. The bank'soperating profit soared to Rs 43.38 crore during the period ended June 30, 1998. The growth levels of 20.42 per cent in deposits and 28.93 per cent in advances were noticeably higher than the industry levels. Domestic deposits have gone up from Rs 13,122 crore to Rs 15,802 crore while advances have risen to Rs 6,670 crore from Rs 5,173 crore.

Bank of Baroda pays Rs 59cr dividend to centre: Bank of Baroda chairman and managing director K Kannan handed over a cheque of Rs 58.80 crore towards the payment of dividend for the year ended March 31, 1998, to the Government of India on Wednesday. The Government of India holds 66 per cent of the share capital of Bank of Baroda. The government's shareholding which stood at 100 per cent came down after the maiden public issue of the bank.

14-day T-bills: The RBI has announced the auction of the 14-day Government of India treasury bills on August 7, 1998, for a notified amount of Rs 500 crore. The allocation to non-competitive bidders will be outside thenotified amount at the bank's discretion.

Three-day repos results: The RBI received one application for the three-day five per cent fixed-rate repos held on August 5, 1998. The central bank accepted the application in full.

CARE reaffirms KSEB bond rating: CARE has reaffirmed the A+ (SO) rating assigned to the Rs 250 crore bond issue of Kerala State Electricity Board. The bonds are unconditionally and irrevocably guaranteed by the Government of Kerala for timely payment of interest and repayment of principal.

CARE reaffirms India Cements debenture rating: CARE has reaffirmed the AA rating assigned to the Rs 135 crore non-convertible debenture programme of India Cements Ltd. The rating agency has also downgraded the FD programme and two NCD programmes of Schematic Finance to the default category.

CARE assigns Rajasthan State Mines debt plan: CARE has assigned a PR1+ rating to the Rs 20 crore commercial paper programme of Rajasthan State Mines & Minerals Ltd. The company isthe largest manufacturer of rosk phosphate and the only producer of high grade phosphatic ore in the country.

Four-day repos today: The RBI has announced four-day fixed-rate repos in Government of India dated securities on August 6, 1998, for parties holding SGL account with it at Mumbai. The repo rate is 5 per cent per annum. The applications may be accepted partially or fully. Payment by applicants will be on August 6, 1998, and repurchase by the RBI on August 10, 1998.