Infosys scrip at all-time high
Mumbai: Driven by the announcement of a 156 per cent increase in net profit, the Infosys Technologies scrip leaped to an all-time high of Rs 4,012.15 on the Bombay Stock Exchange soon after trading began on 10 July. The scrip closed at Rs 3,861, Rs 146 above the previous day's closing. At Rs 12,371 crore, the company's market capitalisation was Rs 470 crore higher.

On Nasdaq too, the scrip was a favourite. It touched a high of $73 against the previous closing of $66.  
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Sebi deadline for depository connectivity
Mumbai: The Securities and Exchange Board of India has fixed 7 August 1999 as the deadline for the two depositories -- National Securities Depository and the Central Depository Services -- to establish electronic connectivity.

Sebi has also decided to set up a committee to recommend charges for inter-depository transfers. The connectivity problem is due to differences in the software interfaces developed by the two depositories.  
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Sebi thinks of scrapping margins
Mumbai: The Securities and Exchange Board of India is thinking of scrapping all margins except market-to-market margins imposed on brokers. Sebi chairman D.R. Mehta said the cost of regulation is passed on to investors, making buying and selling of shares an expensive affair.

The margins that are likely to be abolished are the gross and net exposure margins and the additional volatility margin imposed by the stock exchanges. The move is expected to strengthen implementation of capital adequacy norms.  
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Rating agency norms notified
Mumbai: The Securities and Exchange Board of India has notified the Sebi (Credit Rating Agencies Regulations, 1999 in the Gazette of India (Extraordinary) on 7 July 1999.   
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32 more BSE scrips in B1 group
Mumbai: The Bombay Stock Exchange has decided to promote 32 scrips from the B2 group to the B1 group from 12 July 1999. The number of scrips in the B1 group will go up from 860 to 892.

All the 32 scrips form part of the BSE-550 index launched on 8 July. They belong to information technology, consumer durables, capital goods and food processing companies.  
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Tidel Park raises Rs 70 cr in bonds
Chennai: Tidel Park, a joint venture of the state-owned industrial promotional bodies Tidco and Elcot, has been able to raise Rs 70 crore through bonds for its Rs 320-crore software park in Chennai.

The issue, which opened on 30 June, has been oversubscribed within three working days, official sources said. Managed by IL&FS and ICICI Security Services, the issue was marketed with the state government's guarantee and without a rating.  
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