PRIMARY MARKET DEAD, BUT PRIVATE PLACEMENTS BOOM
Article Abstract:
There was a boom in private placement market for issuers of debt instruments in 1997-98 with huge mobilisations of around Rs30,944 crore by 153 institutions and corporates though the primary market remained grounded. Private placement went up by 68 percent from Rs18,391 crore collected in 1996-97. Compared to this, the total public issue mobilisation through both debt and equity dropped to Rs3,061 crore in 1997-98 from the peak of Rs13,311 crore in 1995. Public issue mobilisations dropped by 74 percent and rights issue mobilization was down by 36 percent at Rs1,743 crore from Rs2,724 crore mobilised in 1996-97 through 131 rights issue. This drop is mainly due to poor state of the secondary markets. (gsh)
Comment:
India: Country experiences boom in private placement market for issuers of debt instruments in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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STCI NET PROFIT UP 62%, TO PAY 10%
Article Abstract:
The Securities Trading Corporation of India (STCI) recorded a 62 percent rise in its net profit at Rs98 crore in 1997-98 (Rs61 crore in 1996-97). It has declared a dividend of 10 percent for 1997-98 (7 percent). It recorded a rise in the profit in trading in the Government of India securities at Rs48 crore (Rs30 crore). Its profit before depreciation and tax was Rs152 crore (Rs107 crore). In 1997-98, it handled 47 issues of government securities (34 issues). (ag)
Comment:
Records a 62% rise in its net profit at Rs98 crore in 1997-98 vs Rs61 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SALE BY MORGAN STANLEY TOOK BULLS OUT BSE
Article Abstract:
Morgan Stanley, the foreign institutional investor has sold shares worth Rs97.18 crore on Indian exchanges during October 5- 7, 1998. In this period Morgan Stanley purchased shares amounting to Rs3.69 crore making it a net seller by Rs93.49 crore. The large scale offloading of shares by Morgan Stanley resulted in the sensex crashing by 224 points. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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