Sunday, October 25, 1998
Delhi Stock Exchange raps NIIT over bonus issue
Infotech major NIIT, in reply to a show cause notice issued by the Delhi Stock Exchange (DSE), has claimed that the announcement of a bonus issue at its October 14 board meeting was not a part of the agenda and was decided spontaneously. However, DSE seems to be dissatisfied with this reply.
Scrips flare up at kerb as operators turn bullish
The prime minister's announcement on the buyback of shares infused new life into the markets especially the Tata group stocks, with these stocks finding favour among kerb operators. After a gap of over two months, Tata stocks once again appeared in the list of pivotals traded on the kerb at Dalal Street.
SEBI pushes up creeping-acquisition limit to 5%, threshold level to 15%
Reacting almost spontaneously to the prime minister's statement, the Securities & Exchange Board of India (SEBI) has announced radical changes in the takeover regulations. The threshold limit has been hiked from 10% to 15%, the creeping-acquisition limit is up from 2% to 5% and can go up to a holding of 75%.
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