Articles by Nishtar

Digesting Gains Nishtar IT has been a quiet week for the stock market. The previous weekend low has not been seen again, nor has the week's high been crossed. While short covering and cautious selective bull support enabled the market to stage a modest rally, the general tone has continued to be rather shaky. The recent behaviour of the market is typical of the process of technical adjustment which it is required to undergo after it has moved a long way in one direction without a pause. In a bull market, when too much pressure has been generated on the upswing, a technical reaction occurs in much the same manner as the safety valve of a steam boiler pops.

Unmanaged NCDC Magnus NCDC has achieved the dubious honour of having its performance described as "a story of unmitigated inefficiency and mismanagement" by the Parliamentary Committee on Public Undertakings (Tenth Report, Fourth Lok Sabha, April 1968). The Committee has shed much more light on the Augean stables of NCDC; cleaning them out is, of course, more difficult. Its criticism deals with planning, execution and sales policy.

LIC Sells Indian Iron Nishtar THE stock market presents no clear picture. While cash shares have continued to put up a remarkably firm front recently, speculators' favourites have remained out of favour and their movements have been rather erratic. One of the market leaders, namely, Indian Iron, has been forced to beat a sharp retreat under pressure of institutional selling and this has had an unsettling effect on the general trading sentiment. But big bulls -


up-to-date statistical information so as to decide on new policies and review them from time to time, and arrive at correct decisions. Our Economic Research Department has been strength- ed and charged with the responsibility of keeping up-to-date statistical information on important aspects of the bank's working.

April 6, 1968 tion ore mines be raised from Rs 2.50 to Rs 4.50. Even the present minimum is more often paid on paper than in cash, so one can only guess the fate of the new minimum. Several Mineowners' Associations have protested against the award (except the South Indian Association, presumably because of lack of cohesion among its members).