The Indian Express -- Business

Friday, November 07 1997

FOREX RATES INDICES STOCK

BSE to seek SEBI nod for renewals in cash group

The Bombay Stock Exchange (BSE) plans to bring back the renewal system -- carrying forward unfinished transactions -- in cash group of shares -- in order to improve liquidity and volume in the cash group. The BSE will approach the SEBI for reintroducing this system which was banned in 1995 to avoid speculation.

Essar Steel turnover crosses Rs 1,000 cr

Essar Steel of the Ruias has recorded a turnover of Rs 1,063.15 crore in the first six months of the fiscal 1998 as compared to Rs 937.06 crore in the corresponding period of last year, marking an increase of 13 per cent. The net profit of the company was Rs 16.53 crore in the first six months as against a loss of Rs 48 crore.

MoF plans audit of 100 companies

In its bid to check evasion of excise duties as well as shore up its tax recoveries, the Finance Ministry has decided to conduct a special audit of around 100 large and medium corporate houses spread across the country to verify valuation and Modvat credit claim. It has directed all the seven excise commissionerates -- Delhi, Mumbai, Calcutta, Chennai, Hyderabad, Kanpur and Baroda -- to conduct special audit of firms suspected of wrongful valuation and credit availment.

Onion prices hit sky, scarcity to persist another month

Bizbits -- L&T to sell shipping unit

BSE to seek SEBI nod for renewals in cash group

Re weakens as dollars dry up

No takers for PSU non-official director posts

Essar Steel turnover crosses Rs 1,000 cr

Crisil lowers rating of six manufacturing companies

HK dollar, stocks crash further

GAIL issue haunts BSE

Two-wheeler sales dip

MoF plans audit of 100 companies

Eicher profits dip 45%

Fresh autonomy package for banks announced