Currency Crisis-Calculus of Joint Float


Street Century rose from the pre. Budget level of Rs 474 to Rs 501 in the post-Budget session on February 28 and touched Rs 514.50 on March 2, Scindia rose from Rs 28 to Rs 28.40 and further to Rs 29.70, Standard rose from Rs 452 to Rs 474 and to Rs 485, Gujarat Fertilisers rose from Rs 370 to Rs 393 and to Rs 399.80, and Noeil from Rs 278 to Rs 284 and to Rs 306. National Rayon rose from Rs 363 to Rs 373 but wavered back to Rs 368, nol because of anything in the Budget but because Kapadias are not quite secure in the company's management and have been known to be selling their holdings.