Buyback announcement props Skindia GDR Index 7% to 588 points
The announcement of the share buyback guidelines by SEBI helped perk up sentiment in the GDR markets in the week to November 12 with most GDRs moving northwards for the second week in a row. The Sensex, too, recorded a moderate increase during the period under review.

Badla rates inch up to hover around 15% on Bombay Stock Exchange
Carryforward rates on the Bombay Stock Exchange (BSE) moved up to touch a high of 19% before stabilising at 15.25% weighted average for a total vyaj badla position of Rs 645.39 crore. Of the 145 securities offered for the carryforward session, only five attracted backwardation charges.

India Excel Fund declared best Canadian performer
A Canada-based mutual fund, partly managed by India's Aditya Birla group of companies, has been declared the best-performing fund in this country for the months of May and August 1998.