Markets
unsteady
Mumbai: The Bombay Stock Exchange index
of 30 shares closed at 4,733 on 28 September 1999, up
17 points from the previous close. The National Stock
Exchange index of 50 shares closed at 1,379 points, reflecting
a loss of 10 points. Reliance Industries, Zee Telefilms,
Ranbaxy Labs, Satyam Computers, Pentafour Software, Global
Telesystems and Silverline were some of the most highly
traded stocks. The shares of Gujarat Ambuja Cements rose
7 per cent on bonus rumours.
After 2
per cent of Housing Development Finance Corporation equity
changing hands on 27 September, another 1 per cent changed
hands on 28 September. It is reported that one buyer bought
1.4 million shares at a price of Rs.310 per share.
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NSE
allows smaller stock exchanges
Mumbai: Eight stock exchange subsidiaries
that had applied to the National Stock Exchange will be
enrolled as members. The NSE board has given its consent.
The board has said that no concessions would be given
to the new members and that they should have a net worth
of Rs.2.5 crore deposited in cash.
The subsidiary
members will also not be able to participate in the wholesale
debt market segment as their entry has been restricted
to the equity segment. They will also have to ensure that
51 per cent of their holdings are with the concerned regional
stock exchanges and the rest widely held and not concentrated
among a few members.
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Citibank
to take 2.38 per cent stake in NSDL
Mumbai: The National Stock Exchange will
sell 2.38 per cent of its holding in the National Securities
Depository Ltd. to Citibank for Rs.3 crore. Citi is paying
a 20 per cent premium to take the stake.
The equity
of NSDL is Rs.105 crore. HSBC and HDFC Bank already have
a 4.71 per cent stake in NSDL, which was bought from the
Unit Trust of India.
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