Saturday, July 24, 1999
Correction drags Sensex down 56 pts
The stock markets witnessed a correction yesterday, with the BSE Sensex falling by 56.66 points due to end-account considerations. The net outstanding position on the BSE at the start of the trading was of the order of Rs 1,600 crore which at the end of the day came down to Rs 1,538 crore showing net speculative unwinding of positions worth Rs 62 crore.
Birla Cash Plus slashes minimum investment
Birla Cash Plus, the short-term debt plan from Birla Mutual Fund, has slashed the minimum investment from Rs 25,000 to Rs 10,000. The fund has also introduced the facility of paying 95% of the redemption amount in Birla Cash Plus through a post-dated cheque at the time of investment itself.
Is Mastek overvalued at a P/E multiple of 46?
Propelled by an 180% growth in bottomline and rumours of a liberal bonus, Mastek Limited has zoomed on the bourses. The stock has appreciated by an incredible 94% in the last 10 days to cross the Rs 1000-mark.
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