Bizbits 8212; PSE MoU with BSE

PUNE: The Pune Stock Exchange PSE and the Bombay Stock Exchange BSE today entered into a Memorandum of Understanding MoU to extend BS...

PUNE: The Pune Stock Exchange PSE and the Bombay Stock Exchange BSE today entered into a Memorandum of Understanding MoU to extend BSE On Line Trading BOLT terminals to members of the PSE, allowing them direct access to their counterparts at the BSE.

A press statement issued by the PSE here today, said that following this agreement, the BSE will prohibit its members from establishing any terminal with anyone but not a PSE member.

The tie-up is expected to boost trade in a larger number of scrips listed on the BSE, at competitive terms while investors will get real time information. It is also expected to reduce postal and other risks, eliminate double brokerage and transaction costs are expected to come down, the statement issued by PSE president, J N Gupta, noted.

Gold rises

MUMBAI: The precious metals, silver and gold, rose on good support amidst restricted arrival. Higher overseas advices also aided the uptrend. Ready silver of .999 at Rs 6295, raw silver of .916 fineness at Rs 6195 and tenderable silver at Rs 6300 showed a further rise of Rs 45 each from yesterday8217;s level of Rs 6250, Rs 6150 and Rs 6255 respectively on brisk buying by industries.

Standard gold recovered by Rs 30 and ended at Rs 4550 as against the last close of Rs 4520 on fresh local buying. 22-carat gold was nominally quoted higher at Rs 4210 from yesterday8217;s Rs 4180, while ten-tola gold bar of .999 purity gained Rs 300 at Rs 53,200 compared to the previous close of Rs 52,900.

Minto Industries

MUMBAI: Minto Industries has recently taken the technical know-how from Bhabha Atomic Research Centre for manufacturing state of the art technique for fabrication of fusion welding quality seamless tee/branch fittings in tubulation of any ductive material including stainless steel. The components made by this technique are superior to those off wrought and forged quality ones in many respects.

Garment fair

MUMBAI: The Clothing Manufacturers8217; Association of India CMAI is organising the 34th National Fair from July 29 to August 1, 1997 at Bombay Exhibition Centre, NSE Complex, Goregaon. According to Hiten Shah, Chairman, Fair Sub Committee, around 6000 dealers from all over the world are expected to visit this event.

Exhibition

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MUMBAI: The Appliances and Consumer Electronics exhibition 8217;97, organised by Mediascope Expositions, and co-sponsored by CETMA, the Consumer Electronics and Television Manufacturers Assciation is to be held from December 6 to 9,1997 at the World Trade Centre Mumbai. The exhibition will demonstrate and showcase a wide range of consumer electrnics and home appliances to consumers.