Saturday, November 7, 1998
Reserves of Unit Trust of India's assured schemes turn negative
Five assured return schemes of the Unit Trust of India have witnessed a sharp erosion in their reserves. The result: the reserves of these schemes are a negative Rs 317.7 crore. As on June 30, 1998, the reserves of Monthly Income Plan 94 (III), IISFUS'97, MIP 97, MIP 97 (II) and MIP 97 (III) had slipped into the negative territory.
Further delay likely in ICSE operation
The operation of the Inter-Connected Stock Exchange is likely to be further delayed as the Securities Exchange Board of India may take some more time to give its final nod. The market watchdog has referred the project to its legal department.
Government to divest Concor shares in dematerialised form
The government will disinvest its shares in Concor only through the depository route. This marks the first instance of an issue going through only in dematerialised form. That the shares will be offered only in dematerialised form has been made clear in the letter of offer which has been given to prospective investors in the Concor scrip.
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