SEBI raises margins on outstanding to 25 per cent
Munbai: The Securities and Exchange Board of India (Sebi) has asked stock exchanges to increase additional margins on net outstanding sales position to 25 per cent from 10 per cent.
Sebi had earlier imposed the 10 per cent margin on sales position on March 5. The decision follows the 400 points fall in the stock market in the last five trading sessions.

Sebi has also asked exchanges other than the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to limit the broker-wise end of the day outstanding position to Rs 50 crore with effect from March 12. The two exchanges have been excluded from the purview of this stipulation in view of the size of their trade and settlement guarantee fund.

The regulator has also asked the exchanges to reduce the overall exposure of the brokers. Brokers on the NSE will be allowed to take exposure in stocks up to 10 times of their base capital and additional base capital compared to 12.5 times, earlier. Brokers on other exchanges will be allowed to take exposure of only 15 times their capital compared to 20 times, earlier.
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PTC to raise paid-up capital to Rs 5,000 crore
New Delhi: The Power Trading Corporation (PTC) has sought enhancing the paid-up capital to Rs 5,000 crore over next five years from Rs 10 crore as part of equity restructuring in view of buying power from the mega power projects. Targeting a billing cycle of Rs 20,000 crore annually for trading 10,000 mw electricity, the PTC has asked the power ministry to allow raising its paid-up equity in view the poor financial condition of state electricity boards (SEBs).

PTC is a party to purchase power for two mega power projects at Hirma in Gujarat for 4,000 mw and Ennore in Tamil Nadu for 1,850 mw. PTC has already drawn up a business plan for the next financial year envisaging trading of power of up to 800 mw including evacuation of 200 mw electricity from West Bengal to northern grid and up to 350 mw from Bhutan to eastern grid.
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Telco tops the list of loss-making firms
New Delhi: Tata Engineering & Locomotives Company (Telco) has emerged among the ten large group companies of major business houses, as top ten loss-making listed companies in the first three quarters. Telco’s losses amount to Rs 354 crore.

Telco, the producers of 'Indica' cars, increased its losses by 490 per cent to Rs 354 crore this year as against Rs 60 crore during April-December 1999, due to slowdown in the auto sector. Apart from Telco, only two A-group companies - Singhania group company Raymonds and Thapars' Crompton Greaves - figured in the list of top ten loss-making companies.

The aggregate loss by the ten companies, including Telco, Raymonds, Birla VXL, Apple Finance, Hindustan Motors, Crompton Greaves, Mysore Cements and CESC, amounted to about Rs 1,328 crore against Rs 611 crore during April-December 1999.
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