Zenith Infotech to mop up Rs 39.12 cr via float
Zenith Infotech Limited, the software development arm of Zenith Computer, is entering the capital market to raise Rs 39.12 crore for funding its expansion and growth plans. The company's public offer would call for payment of Rs 55 per share (50 per cent of the subscription amount) on application and the balance 50 per cent on allotment, making the offer attractive to the retail investors.Banking stocks back in the limelight
The passage of IRDA Bill has given a fresh lease of life into the otherwise battered banking stocks. In the past two trading sessions, most of the banking counters has attracted huge buying interest. In fact, small banks are also started moving northwards. Banks like State Bank of India, Corporation Bank, ICICI Banking, Bank of India, Oriental Bank, Dena Bank, Jammu & Kashmir Bank, SBBJ and City Union Bank have gained in the range of 6 per cent to 21 per cent in a couple of trading sessions.
Skindia GDR index up 1.29 per cent
The Skindia GDR Index, representing GDRs of 17 actively trading companies increased by 1.29 per cent from 996.20 to 1009.01 on December 3, 1999 as per the Skindia GDR index with a base January 3, 1995 equal to 1000. The Skindia GDR index P/E ratio was 76.27 as compared to 74.20, Skindia Finance said in a press release.
Madras SE mulls subsidiary
The Madras Stock Exchange (MSE) is mulling the formation of a subsidiary company for securing the membership of Bombay stock exchange, thereby virtually ruling out participation in the inter-connected stock exchange (ISE). A team from the Bombay stock exchange (BSE) has already visited the MSE premises to study the technical feasibility.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.