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FIIs barred from buying shares in UB
Mumbai: The
RBI said it has barred foreign institutional investors from buying more shares
in United Breweries without first obtaining its permission. The central bank
said foreign investment in UB has reached the overall ceiling of 22 per cent of
its paid-up capital.
UB shares ended down 2.36 per cent at
Rs 125.95 before the statement was issued, while the benchmark Bombay share
index shed 2.98 per cent.
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PSUs
favourite as govt gets Rs 45,000 crore
Mumbai: The
market may have been harsh on small investors, but the government has little
reason to complain. It is richer by nearly Rs 45,000 crore on its holdings in
27 listed PSUs, all in a space of five months.
At current market prices of the shares
of these enterprises, the government holding is worth about Rs 1,00,000 crore.
But at the start of the current calendar year, they were worth only Rs 55,000
crore.
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Sebi says
Ketan Parekh duped his own partners
Mumbai: A
finding by Sebi that stockbroker Ketan Parekh defrauded six overseas corporate
bodies has stumped the CBI, which thought they all were partners in the same
crime.
Sebi has, in an order dated 16 May
2002, said Parekh has duped six Mauritius-based OCBs of a total of Rs 176.66
crore.
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Centre,
states may jointly monitor co-op banks
New Delhi: The finance
ministry will hold consultations with state governments to take a view on the
suggestion of the RBI to set up a separate regulator for cooperative banks.
RBI governor Bimal Jalan said the central bank is keen to have a separate
regulator for cooperative banks. But the final decision will have to be
taken by the Centre, in consultation with the states.
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RBI
okays Rs 6,000-cr private placement of bonds
Mumbai: The
RBI has eased the pressure on a jittery government securities market by
announcing the private placement of 15-year and over 20-year bonds for a
cumulative amount of Rs 6,000 crore on 30 May.
These bonds were, as per the auction calendar, to be issued between 27 and 30
May.
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SBI not
to cut jobs
Mumbai: The
State Bank of India said any redundancies caused by a proposed technology
upgrade will not lead to job cuts.
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