GTB promoters offload equity
The promoters of Global Trust Bank (GTB) have offloaded as many as 55.45 lakh equity shares in the open market during the fiscal year ended March 31, 2003. This assumes significance since the capital markets regulator, Securities and Exchange Board of India (SEBI), had suspended a group of 50 entities belonging to the GTB promoters' group and associates of the tainted stock broker - Ketan Parekh - from buying, selling, transferring, pledging or otherwise disposing of their holdings in GTB.
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Oil segment in `Nifty basket' to increase
Oil and petroleum stocks will now account for a little over fifth of the performance NSE Nifty index than in the past. The stocks under this segment in the key benchmark index, the S&P CNX Nifty is set to go up by 1.6 percentage points from 18.6 per cent to 20.2 per cent. This follows the inclusion of Gas Authority of India in the basket of 50 stocks. This is the second sharp spike in the oil sector in the Nifty in the last eight months following the inclusion of BPCL in October 2002.
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