US-64 NAV may equal unit sales price soon
Mumbai: The Unit Trust of India hopes that the net asset value of its US-64 scheme will equal its repurchase and sale prices within the next 14 months, ahead of the February 2002 deadline set by the Deepak Parekh Committee.

The US-64 scheme's NAV has shot up 17 to 20 per cent to Rs 11.95-Rs 12.10 in the last three weeks in the wake of the stock market show at the end of the Kargil hostilities.

The new sale and purchase prices for the US-64 for July 1999 are Rs 13.50 and Rs 13.20, and the NAV is at just a 9 to 12 per cent discount to its latest repurchase price.
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Sebi plans demat mode issuance of shares
Mumbai: The Securities and Exchange Board of India is taking up issuance of shares in the primary market through the demat mode. Sebi's primary markets committee will work out ways in which this can be achieved.

Finance minister Yashwant Sinha had stated in Mumbai that he would favour a quick move towards initial public offerings in demat mode to bring down costs to investors.

The Sebi board has decided to ask companies to offer investors the option to take allotment of shares in a demat form.
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