ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On the Wrong Track

had been for long accumulating a big line in NRC shares ("Dog Bites Dog", April 4, p 584). Since they stood to benefit from the likely rise in share prices if a bonus issue had been announced, the Chinais had been using every means to scotch such rumours. The objective obviously was to depress the share price so that ultimately Ka- padias would be forced to loosen their grip on NRC. In this the ban of for- ward trading in shares came as a windfall to the Chinais. In the climate created by the ban and bank nationalisation, NRC shares hurtled from a 'high' of Rs 591 to Rs 398 in the course of a mere month and a half.

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