Sensex crashes by 157 points; rupee dips further
Bears pulled down stock prices and indices as a host of problems gripped the stock markets once again. Sensex fell by 157 points on the Bombay Stock Exchange (BSE) as sustained selling pressure created a crisis of confidence. On the other hand, the rupee touched a historic low of 42.42 against the dollar before staging a smart recovery to close at a new low of 42.28 as nervousness continued to grip the inter-bank foreign exchange market.

Britannia pays 50% dividend
Food and biscuit firm, Britannia Industries Ltd, has recorded a 13% increase in net sales to Rs 847.8 crore for the year ending March 31, 1998, against Rs 752.3 crore in the previous year. The profit before tax has registered an increase of 48% to Rs 42.4 crore from Rs 2.95 crore during the previous fiscal.

RBI files criminal case against JVG Securities
The Reserve Bank of India (RBI) has lodged a criminal complaint against JVG Securities Ltd and its 10 board members for allegedly flouting the apex bank's guidelines and accepting public deposits beyond permissible limits. The complaint lodged recently in the court stated that the company accepted public deposits through JVG Leasing Ltd and credited to the account of JVG Finance Ltd.

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