The Hindu Business Line
TWENTY YEARS AGO TODAY
2,000 BSE-listed co.s yet to file half-yearly results
About 2,000 companies listed on the Bombay Stock Exchange are yet to submit their half yearly results for the period ending September 30, 1996. According to Section 41 of the Listing Agreement of the BSE, a company will have to furnish unaudited financial results on a half yearly basis within two months to the stock exchange and make an announcement forthwith to the stock exchanges where the company is listed. All the companies listed on the stock exchange have to abide by the agreement failing which they can be suspended or delisted.
Measat deal on DTH to be kept alive
The Centre has decided to keep alive the memorandum of understanding between the Malaysian satellite company, Measat, and Doordarshan for offering direct-to-home (DTH) television services in India. The MoU had lapsed in June. The Government has decided to revive it following the developments on the DTH television services front. Though nobody in the Government knows when the DTH platform of Doordarshan will take of, the decision to keep alive the MoU with Measat is significant.
BA plans to sell stake in USAir
British Airways intends to sell its entire 24. 6 per cent stake in the fifth biggest US airline, USAir. British Airways angered USAir by making an alliance with American Airlines. Under an agreement through which BA acquired its holdings, the airline must offer the stock to USAir which would then have 60 days in which to buy it. British Airways did not give the price at which it was offering the shares to USAir.