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Journalism of Courage
BSE investment in CDSL
MUMBAI: The Bombay Stock Exchange BSE general body today passed an enabling resolution to invest up to Rs 100 crore in the equity of Central Depository Services Ltd CDSL promoted by it.
CDSL has received a commitment of Rs 35 crore from four banks and was expecting to tie up another Rs 30-35 crore from financial institutions, including the Unit Trust of India UTI and some other banks. quot;Following this, we hope the exchange will have to invest only Rs 30-35 crorequot;, BSE president J C Parikh said. The depository has already received approval from the Securities and Exchange Board of India SEBI and is expected to apply for certificate of commencement of business once the networth of Rs 100 crore is fully tied-up. quot;We will apply to sebi very soon, possibly next week,quot; Parikh said.
Silver prices up
MUMBAI: Silver prices rose sharply by Rs 170 per kg and gold recovered moderately on the bullion market here Thursday following sharp rise in the internationalprices.Ready silver of .999 fineness shot up by Rs 170 to close at Rs 7620 from Rs 7450.
Raw silver of.916 fineness rose by Rs 165 and ended at Rs 7490 compared to the previous close of Rs 7325. Tenderable silver closed higher at Rs 7625 from Rs 7455.
Standard gold recovered by Rs 20 and closed at Rs 4250 from yesterday8217;s close of Rs 4230. 22-carat gold was nominally quoted better at Rs 3930 and ten-tola gold bar of .999 purity hardened by Rs 400 to Rs 50,200, according to trade sources.
