BSE probe into trading of illiquid stocks
Mumbai: The Bombay Stock Exchange will investigate the incidence of recent unusually high volumes and rising prices of several illiquid stocks listed on the exchange. It said in a statement that four companies – Alps Infosys, Cauvery Software, Media Video, and Sawaca Finance – have been suspended from trading from 5 to 7 January 2000, pending such investigation.
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FIIs bring in Rs 99.8 crore
Mumbai: Foreign institutional investors brought in a net Rs 99.8 crore on 30 December 1999.  According to the Securities and Exchange Board of India, FII sales were valued at Rs 12.2 crore, while gross FII purchases amounted to Rs 112 crore. Sebi says this inflow contributed to the Sensex crossing the 5000 mark.
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Odyssey Technologies’ open offer
Chennai: The promoters of Odyssey Technologies have made an open offer to pick up 20 per cent of the company’s shares from the public at a price of Rs 41 per share – against a market price of Rs 272 per share. The open offer follows a directive from the Securities and Exchange Board of India, which found that the company had violated the takeover code.

Odyssey Technologies had made a preferential allotment to the promoters at Rs 25 per share on 24 December. Since this allotment was made without adequate notice to shareholders, an open offer was required to be made as per the takeover code. The promoters then decided to make an offer to acquire 10,40,000 shares of Rs 10 each at a price of Rs 41 per share arrived at on the basis of "26-week high-low or negotiated price whichever is higher".
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