Badla bet goes bad
Article Abstract:
The Bombay Stock Exchange Index fell from 3,642 points at the beginning of June 1998 to 2,951.45 points on 22 June 1998, after speculation in the badla market failed to materialize and brokers lost large quantities of money. The badla system is a carry-forward scheme where by speculators can carry forward payments from one week to the next. The short-sales market was halted by the Securities and Exchange Board of India, which meant investors could no longer bet on prices falling.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Strictly business; Unilever merges Indian units, sans politics
Article Abstract:
The announcement that Unilver will merge its two largest Indian subsidiaries generated very little protest in India. This is due to the fact that the two companies are already foreign-owned but may also reflect an acceptance by India's industrial elite for continued multinational investment. Food and beverage producer Brooke Bond Lipton India will merge with soap manufacturer Hindustan Lever to create a consumer products firm with a market capitalization of $4.4 billion.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Bombay bombshell: banks in turmoil over securities scandal
Article Abstract:
Banks in India are in a state of confusion and nervousness over the bond and share market scam that has rocked the industry. Bank prudential reserves have apparently been encashed for speculation in the stockmarket through the machinations of Indian broker Harshad Mehta. Some executives have already been asked to step down. Investigations are showing which banks engaged in speculative business or overtraded in bankers' receipts.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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