MUMBAI: Industrial Credit and Investment Corporation of India (ICICI) has mopped up over Rs 300 crore in the retail bonds issues that closed on Tuesday. The public issue of Rs 250 crore had an greenshoe option of another Rs 250 crore.

During the same period, ICICI garnered Rs 800 crore as private placement. A ICICI statement says it received over one lakh application from all over India for its retail bond issue. The issue was kept open from December 5 to 23.

Rupee gains against dollar

MUMBAI: The Indian currency rose further against the US dollar on sufficient supply and profit making by banks and financial institutions led by State Bank of India (SBI). The rupee opened at 39.15/17 against US dollar, and closed at 39.11. Some deals were also stuck at 38.99, dealers said.

Christmas holidays, moderate demand for dollar from the corporate sector are the main reasons cited by the dealers for a dull foreign exchange market.The Reserve bank of India intervened in the February forward premium which led to the premium coming down by 10 paise.

Caspian Broking gets SEBI nod

MUMBAI: Caspian Broking India Pvt Ltd, a joint venture between London-based Caspain Securities and local broking house Chimanlal J Dalal & Sons, has started direct broking operations on the BSE. The foreign partner has gained approval to acquire the BSE card of Chimanlal last month and the SEBI gave its nod last week.

M&M signs wage pact with workers

MUMBAI: Utility vehicle maker, Mahindra & Mahindra Ltd (M&M) said it has signed a `historic' wage accord with the workers' union at its automotive division at Kandivali in Mumbai. Under the agreement, the company will spend an additional Rs 3,000 a month on each of its 5,085 employees at the division. The pact will cost the company about Rs 18 crore a year. The agreement, signed on Friday, is effective from November 1, 1997 to December 31, 2000.

TCS targets Rs 800 crore exports

CALCUTTA: Tata Consultancy Services has targetted Rs 800 crore from software exports for the financial year 1997-98. In the financial year 1996-97, the company notched a turnover of R 721 crore out of which Rs 580 crore was generated from exports.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.