The Telegraph
Since 1st March, 1999
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Business Briefs

MFs to trade in derivatives

Mumbai, Jan. 1: The Securities and Exchange Board of India has allowed mutual funds (MFs) to trade in derivative products to offset potential losses from cash market positions. The MFs may also deal in derivatives for rebalancing when a particular portfolio position could be achieved more efficiently or at lower cost rather than trading in the cash market.

GoM recast

New Delhi, Jan. 1: Seven groups of ministers, including those on labour reforms and FDI, have been reconstituted to include disinvestment minister Arun Shourie, who is also in charge of the commerce and industry ministry.

Audit norms

. 1: Sebi has directed companies to conduct a secretarial audit for reconciliation of their total admitted and listed capital, appoint a common agency for physical share records and establish links with depositories.

Hind Motors

Calcutta, Jan. 1: Aituc leader Gurudas Dasgupta today sought the Bengal government’s intervention in Hindustan Motors as workers have threatened to launch an agitation in protest against irregular salary payment.

Calcutta port

Calcutta, Jan. 1: The largest ever Ultra Large Crude Carrier vessel, Arctic Blue operated by Tanker Pacific, Singapore, was anchored at Sandheads, which is 232 kms from the Calcutta port.

UTI sales

Mumbai, Jan. 1: Redemptions of UTI schemes at Rs 2,076 crore were higher than its sales in November 2002 at Rs 1,011 crore.

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