Badla rates touch 21 pc

MUMBAI, JULY 17: The badla rates vaulted to an average 21 per cent on the Bombay Stock Exchange BSE as net long positions shot up to Rs 1,350 crore from Rs 1,179 crore last week. The badla rates had hovered in the range of 16-16.6 per cent last week. Badla rates opened at around 16 and some deals were reported at as high as 25 per cent. The last time balda rates had gone beyond the 20 per cent mark was in the post-budget period. Brokers point out that the sharp increase in badla rates indicates a very bullish trend on the bourses. quot;The net long positions have gone up by around Rs 200 crore over last week.