BusinessLine Twenty Years Ago Today

january 16, 1997

Share prices, volumes zoom

Share prices and volumes zoomed on aggressive buying largely by local operators, buoyed by expectations of a package of measures by the Government to boost the capital market. The BSE sensitive index surged by 154 points on aggressive buying by local operators to reach 3,642 points. The BSE registered its highest-ever turnover at Rs. 1,129 crores. The net traded value on NSE was Rs. 1,555.29 crores in 783.30 lakh shares traded. The market opened at 3,488.92 points and touched the day’s high of 3,673.9 points, recording a gain of four per cent over its previous close. The NSE 50 index registered its highest-ever in the recent past by gaining 52.50 points to finish the session at 1,041.80 points.

New roads policy to attract funds

The Union Cabinet cleared a roads policy which is expected to give a greater impetus to private investment through assured traffic support, fiscal concessions, simplification of procedures, faster land acquisition and environmental clearances. The Surface Transport Minister, Mr. T. G. Venkataraman, said that new laws were being enacted so that nobody could move the court against acquisition of land for the development of highways.

TRAI okayed

The Union Cabinet has approved the proposal for setting up the statutory Telecom Regulatory Authority of India (TRAI) on the basis of the Report of the Parliamentary Standing Committee on Communications, which was recently tabled in both Houses of Parliament. The TRAI will be a “statutory and high-powered body” and will enjoy a “substantial degree of autonomy”, according to an official statement here. It will also have jurisdiction, over DoT.

Published on January 15, 2017

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