Thursday, February 4, 1999
GAIL share priced at Rs 60
The government today fixed the price of the Gas Authority of India (GAIL) at Rs 60. The Core Group on Disinvestment on Wednesday recommended Rs 60 per share for the disinvestment of the government stake in Gail, merchant bankers handling the issue said. At the Bombay Stock Exchange, the Gail scrip closed at Rs 64.90 after opening at Rs 64.
LIC sets up project appraisal wing
Life Insurance Corporation (LIC) on Wednesday took the first concrete step towards offering term lending to industrial and infrastructure-related projects by inaugurating project appraisal and equity research wing in its investment department.
Magor picks up 25% in JP Morgan
The BM Khaitan-controlled Williamson Magor group has picked up 25% equity in JP Morgan Securities India Pvt Ltd, the primary dealer arm of the Global Investment Bank. The fixed income securities outfit will kick off its India operations on Thursday.
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