Tuesday, June 23, 1998
HC asks SEBI to clarify on exchange directors
The Allahabad High Court, Lucknow bench has directed Securities and Exchange Board of India (SEBI) to "spell out" the "criteria" adopted by it for nomination of three persons as public representatives on the board of directors of stock exchanges. Justice A N Gupta, also directed SEBI to submit the rationale behind calling of a panel of names from the concerned stock exchange against the quota for public nominees.
Market capitalisation dips Rs 1,62,000 crore
Investors have paid a heavy price in the sustained fall in share prices in the last one month. The total market value of all listed shares -- widely known as market capitalisation in the market jargon -- on the Bombay Stock Exchange (BSE) has fallen by a whopping Rs 1,62,000 crore in a period of two months. In other words, investors have seen an erosion of this amount in their shareholdings.
Maruti Udyog all set to introduce new models
Maruti Udyog Ltd (MUL) will launch new models in all the existing segments at the earliest. Company sources said that in order to maintain its market share, the automobile major is likely to introduce a model in the 800 cc segment. It is also working on a diesel Zen and Gypsy which are expected to be introduced in the current fiscal.
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