Tuesday, June 30, 1998
L&T to raise Rs 3,500 cr
Engineering and construction major, Larsen and Toubro Ltd (L&T) is planning to raise upto Rs 3,500 crore by issuing non-convertible debentures in favour of financial institutions, banks and public. The company plans to invest the funds in its various expansion and diversifications.
SEBI lifts 10% margin on short sales
With the Sensex recovering by 121 points yesterday, the SEBI appointed sub-committee has decided to do away with the additional margin of 10% imposed earlier on short sales with effect from July 6. The date coincides with the day when the ban imposed on short sales will also be lifted.
LIC life fund crosses Rs 1,00,000 cr
The Life Insurance Corporation's (LIC) total corpus (life fund) increased by 20.59% to cross the Rs 1,00,000 crore mark in 1997-98 and touched Rs 1,05,832.89 crore. The total premium income during the year was Rs 19,252.07 crore (up by 18.55%) and investment income was Rs 11,296.32 crore (up by 20.23%).
|
|
