Badla rates fall on BSE

MUMBAI, Aug 16: Carry forward rates on the Bombay Stock Exchange dipped close to 14 per cent annual or 1.2 per cent monthly, for a net outs...

MUMBAI, Aug 16: Carry forward rates on the Bombay Stock Exchange dipped close to 14 per cent annual or 1.2 per cent monthly, for a net outstanding position of Rs 162 crore.

Of the 70 stocks offered for carry forward at the session held on August 16, only 4 stocks attracted backwardation charges: Apollo Tyres attraced a weighted average badla rate of Rs 1.35 for a net position of 28,650 shares, ITC (Rs 3.96) for an outstanding position of 1.62 lakh shares, Mahindra & Mahindra (Rs 5.00) for a position of 23,900 shares and Tata Chemicals (Rs 0.89) for a net position of 3.57 lakh shares.

"With Mah & Mah and ITC attracting a higher backwardation charge, the next settlement would see a volatile price movement at these counters," commented a dealer at an FII brokerage house.

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Stocks like Dr. Reddy’s, Indian Petrochemical, United Phosphorus and Ranbaxy Laboratories attracted a book closure carry forward rates of Rs 23.38 (weighted average), Rs 7.67, Rs 13.74 and Rs 63.58 respectively.

Crompton Greaves attracted the highest carry forward rates of 15 per cent to carry forward a net position of 39,950 shares however, Hero Honda attracted the lowest carry forward of 11.69 per cent for a position of 14,250 shares.

The other stocks which attracted seedha badla charges is ACC (14.56 per cent for 25,640 shares).