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Thursday, April 16, 1998
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SEBI tightens disclosure norms
In a bid to provide more transparency, the Securities and Exchange Board of India (SEBI) has tightened the disclosure norms to be followed by companies. The regulator has expanded the list of material events impacting a company, information regarding which is needed to be provided to a stock exchange immediately.
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Reliance keen to increase stake in RPL to 50%
Reliance Industries Ltd (RIL) has expressed its willingness to increase its equity stake in Reliance Petroleum Ltd (RPL) to 50 per cent from the present level of 39 per cent. RPL has also decided to increase its capacity from 15 million tonnes per annum to 18 million tpa.
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Sour over basmati, turmeric Govt gets cracking on patents
To make domestic industry better equipped to fight foreign competition, the BJP Government has finalised a package of legal and administrative reforms which will make it easier for Indian individuals and companies protect their strengths. The BJP Government is ready with a slew of Bills which will make it easier for domestic companies to file patents internationally, register geographical indicators like Basmati rice, protect traditional Indian trademarks which will include service marks, India's bio-diversity and also the plant breeders rights.
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Exim policy spurs bull rally
Pivotals turned bullish on the Bombay Stock Exchange (BSE) today lifting the Sensex by over 106 points. All-round speculative activity coupled with renewed buying by foreign institutional investors (FIIs), positive reactions to the Exim policy, and the YTM slash, saw the BSE-30 index breach the 4,200 mark to touch an intra-day's high of 4,213.07 points.
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