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Satyam ComputerMUMBAI: The Reserve Bank of India RBI has notified on November 8, 1999 that the aggregate net purchases of equity shares...

Satyam Computer
MUMBAI: The Reserve Bank of India RBI has notified on November 8, 1999 that the aggregate net purchases of equity shares of Satyam Computer Services Ltd by foreign institutional investors FIIs in the primary or secondary markets has reached the limit of 28 per cent of its paid up capital. No further repurchases of equity shares of Satyam will, therefore, be allowed on behalf of the FIIs without obtaining prior approval of the RBI.

Markets closed
MUMBAI: All major markets including the Bombay Stock Exchange and the National Stock Exchange remained closed on Monday on account of Diwali8217;, or the festival of lights. The bullion market will remain closed till Wednesday, November 10.

BoM depository
MUMBAI: Bank of Maharashtra BoM has become the first nationalised bank to accept the membership of the Central Depository Services CDSL. The bank8217;s depository services were inaugurated in Mumbai on November 5 by Anand Rathi, president, the Stock Exchange, Mumbai. Initially the bank will not ask for any custody charges and also the opening of account is free.

Meanwhile, BoM8217;s Borivali East branch has entered into compurterisation. After the inauguration, Suresh Ponkshe, deputy general manager, Mumbai suburb region, distributed the computersied passbooks to some customers.

Linc Pen
MUMBAI: The net profit of Linc Pen amp; Plastics, a premier manufacturer of quality writing instruments for the first half of the current year has increased to Rs 78.43 lakh from Rs 71.59 lakh. The net sales during the period have grown to Rs 1,093.37 lakh from Rs 1,051.09 lakh.

CFL downgraded
NEW DELHI: Rating firm ICRA has downgraded the fixed deposits programme of Consortium Finance Ltd CFL from MA to MA- indicating adequate safety with lower standing. The downgrade takes into account deterioration in the financial performance of CFL due to declining spreads resulting from high borrowing costs, poor asset quality as a consequence of higher provisioning and expenses level. These factors, coupled with negative growth resulted in CFL posting losses of Rs 5.52 crore on total income of Rs 13.42 crore.

Tyre output up
NEW DELHI: Aided by the turnaround in the domestic automobile industry, tyre production has registered a 10 per cent increase in September this year at 31.49 lakh units compared to 28.66 lakh units during the coresponding period last year. Truck and bus tyres, which constitute bulk of the Indian tyre industry8217;s revenue, recorded a sharp increase of 17 per cent in September to 7,81,075 units.