BROKER DEFAULTS COST NSE Rs34.67 CR

Article Abstract:

The National Stock Exchange (NSE) has suffered a loss of Rs34.67 crore due to defaults by 15 member brokers over the last two years. Vipul Securities has defaulted to the tune of Rs20.50 crore while Libra Management has defaulted to the extent of Rs6.33 crore. RC Garg & Sons owes Rs2.26 crore while Maxwell Securities owes Rs2.14 crore. The NSE Clearing Corporation, an affiliate which bears the entire counter-party risk, has written off the whole amount.(khr)

Comment:

Suffers a loss of Rs34.67 due to defaults by 15 member brokers over the last two years

Securities and Commodity Exchanges, Misc Stock Exchanges, Stock exchanges, National Stock Exchange of India Ltd., Article

---

IVR CONSTRUCTIONS BAGS Rs34.50-CR ORDERS

Article Abstract:

IVR Constructions (IC) has secured orders worth Rs16.65 crore from the Cochin Refineries for a water supply scheme and a Rs17.85 crore irrigation facilities scheme project at Muktainagar of the Tapi Irrigation Development Corporation of the Maharashtra Government. IC's constructions division will undertake these projects on turnkey basis. (rk)

---

CALL RATES MOVE DOWNWARDS

Article Abstract:

Call rates opened at 8.80-8.90 percent and closed at 8.25 percent in the interbank call money market on January 25, 1999. The fixed rate repo of the Reserve Bank of India attracted a single bid of Rs2000 crore. Dealers predict call rates to open at 8.15-8.20 levels on January 27, 1999. (khr)

Domestic Financial Transactions

Similar abstracts:

• Abstracts: SAIL LOSS ZOOMS TO Rs617 CRORE. SAIL POSTS Rs273-CR NET LOSS FOR Q3 PERIOD
• Abstracts: NAVARATNAS LOSE 23% OF MARKET CAP. SIV CONTAINS H1 LOSS NET LOSS AT Rs42.74 CR. SIV INDUSTRIES
• Abstracts: KSHEMA TO INVEST Rs5 CR IN EXPANSIONS CHAUHAN TO SPEND Rs40 CR ON BUILDING UP BISLERI SODA BPL LAUNCHES MAJOR SOFTWARE INITIATIVE, TO INVEST Rs40 CR
• Abstracts: BERGER PAINTS - GLOSSY WITH BONUS MOVING INTO COLOURFUL TIMES. MALLYA'S KENYAN PAINTS COMPANY TO BE TAKEN OVER
• Abstracts: SHIP-BREAKING HITS ROUGH WEATHER LUCRATIVE CONTRACTS SEE NSDRC SET Rs5-Cr GOAL

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.