Market witnesses hopeful year-end
Mumbai: It was a firmer and buoyant market on the last trading day of 1999. Manifesting this sentiment, the Sensex of the Bombay Stock Exchange crossed the magical 5000-mark on a day marked by net buying by retail investors and traders. Funds were largely absent.

Software stocks, including Infosys Technologies, Wipro, Aftek Infosys, Sonata Software and Polaris Software, led the day as buying interest continued unabated. Other stocks in the limelight were Larsen & Toubro, Zee Telefilms, Reliance Petroleum, Himachal Futuristics, and Atco Industries. The combined turnover on the BSE and the National Stock Exchange totalled Rs 6,176 crore, nearly 18 per cent down from the 29 December 1999 figure of Rs 8,000 crore.

While the Sensex closed at 5005.82, up 66.35 points, the S&P CNX Nifty of NSE gained a marginal 4.10 points to close at 1480.45.
Back to News Review index page  

NSE suspends trade in Videocon, DSJ stocks
Mumbai: The National Stock Exchange has suspended trading till 19 January 2000 in stocks of Videocon International, Videocon Appliances, and DSJ Communications, for their non-compliance with the listing agreement. The exchange has issued show cause notices to these companies seeking reasons for their non-compliance, which included non-submission of application for listing of further issues, annual reports and annual disclosure as required under the Sebi regulations.
Back to News Review index page  

MSE notices to 6 companies
Chennai: The Madras Stock Exchange has sent notices to six companies for not complying with its listing norms. The companies are India Castor, Vibrant Investment & Properties, Auroknit Exports, Armaan Electric, TGF Media Systems and Shoppers’ Investment & Finance Company. The exchange has imposed heavy margins on the stocks of these companies.
Back to News Review index page  

StanChart, Global Trust take depository equity
Mumbai: Standard Chartered Bank and Global Trust Bank have each picked up 2.4 per cent equity  in the National Securities Depository Ltd investing nearly Rs 3 crore each. These two banks have joined the State Bank of India, HDFC Bank, Hong Kong Bank, Citibank, Deutsche Bank, and Dena Bank, who are already shareholders of the depository, holding a total of 20 per cent in NSDL's Rs 105-crore equity. The balance is held by the promoters, the Industrial Development Bank of India, Unit Trust of India and the National Stock Exchange.
Back to News Review index page  

Subex Software raises funds for acquisition
Bangalore: Subex Systems, a telecom software and services company, has made a private placement of 3,30,800 shares of Rs 10 each at a premium of Rs 740 per share. The company intends to raise Rs 24.81 crore to finance a proposed acquisition in the US. The shares were offered to eight private firms. The company’s stocks are being traded on the Bangalore Stock Exchange at around Rs 2,110.
Back to News Review index page  

Cadila Healthcare plans IPO
Mumbai: Cadila Healthcare of the Zydus group of Ahmedabad is coming out with an initial public offering. The company has entrusted the work of planning the offering to JM Morgan Stanley. The company, which expects to have a turnover of Rs 470 crore in 1999-2000, is a leader in the domestic formulations market.
Back to News Review index page