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NO. 26 : GROSS YIELDS ON GOVERMENT AND INDUSTRIAL SECURITIES - ALL-INDIA (Per cent per annum)

      ------------------------------------------------------------------------------------------------------------------------------------------
                                                                                 1996               1996                       1997
                                                                           ---------------------------------------------------------------
Average of  Months                      1990-91  1993-94  1994-95  1995-96   Feb.     Mar.      Nov.     Dec.     Jan.     Feb.     Mar.
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                    1                      2        3        4        5        6        7        8        9       10       11       12
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Government of India Securities
      Redemption Yield                    12.30    13.53    15.39    15.67    16.75    17.23    16.78    17.14    17.55    15.72    15.94
      Running  Yield                       8.92     9.10     9.27     9.67     9.72     9.72     9.93     9.93     9.93    10.02    10.02
State Government Securities
      Redemption Yield                     8.65    11.42     9.64    10.04    10.25    10.32    11.50    11.86    12.31    10.56    10.56
      Running Yield                        7.32     8.39     9.04     9.09     9.08     9.08     9.08     9.08     9.08     9.98    10.02
Industrial Securities
Ordinary Shares
All Industries                             2.59     2.19     1.79     3.05     3.63     3.61     4.77     4.93     4.46     4.52     4.50
Agriculture and Allied Activities *        3.09     2.64     2.45     3.65     4.63     4.56     5.20     5.63     5.42     5.67     5.60
      Tea  Plantations                     2.83     2.46     2.28     3.59     4.88     4.80     4.80     5.30     5.06     4.76     4.61
Processing and Manufacturing               2.52     2.14     1.72     2.98     3.55     3.53     4.71     4.88     4.41     4.47     4.47
Foodstuffs and Textiles                    2.25     1.73     1.68     3.19     3.81     3.60     4.28     4.29     3.85     3.88     3.93
      Foodstuffs*                          4.16     2.36     2.40     3.23     3.37     3.44     5.43     5.87     5.27     5.07     4.88
      Sugar                                8.48     3.15     4.01     5.59     5.72     5.66     8.72     9.60     7.95     8.89     9.48
      Tobacco                              3.62     1.50     1.73     2.92     3.12     3.20     3.25     3.67     3.34     1.68     1.30
Textiles*                                  1.75     1.56     1.49     3.18     3.93     3.64     3.98     3.88     3.48     3.56     3.68
      Cotton Textiles                      2.20     2.17     1.98     4.53     5.78     5.18     4.52     3.73     3.33     3.29     3.39
      Jute Textiles                        1.87     1.75     1.41     1.80     2.73     2.95     3.52     3.86     4.15     4.66     4.72
      Silk, Woollen & Rayon Textiles       1.16     0.87     1.02     2.05     2.12     2.16     3.76     4.80     4.35     4.65     4.93
Metals, Chemicals and
Products thereof                           2.70     2.34     1.82     3.14     3.75     3.79     5.06     5.24     4.76     4.81     4.76
Metals and Products thereof                2.38     1.60     1.38     1.92     2.06     2.07     3.44     3.72     3.28     3.44     3.51
      Aluminium                            1.25     0.91     0.71     0.91     0.98     0.86     1.06     1.10     0.93     0.97     0.93
      Automobiles and Auto
      ancillaries                          2.42     1.41     1.11     1.91     1.47     1.42     2.99     3.33     3.00     3.22     3.30
      Electrical/Electronic
      Machinery                            2.28     1.81     1.32     2.38     2.54     2.58     3.93     4.37     3.77     3.91     4.03
      Other Machinery                      2.63     1.67     1.73     2.37     2.61     2.62     3.53     3.70     3.40     3.53     3.57
      Foundries and Engg.
      Workshops                            2.46     2.06     2.11     1.72     1.82     1.83     4.97     5.61     5.04     5.31     5.40
Chemicals and Products     thereof *       3.08     3.23     2.34     4.59     5.79     5.86     6.99     7.06     6.54     6.46     6.26
      Chemical fertilisers                 2.77     1.69     1.23     2.74     3.29     3.23     5.93     6.06     5.40     5.48     5.52
      Dyes and Dyestuffs                   6.18     1.77     1.78     3.18     4.14     4.76     7.81     7.30     6.70     7.38     7.29
      Man-made Fibres                      3.92     2.08     2.13     3.07     3.37     3.43     4.25     4.62     3.86     4.33     4.11
      Other Basic Industrial
      Chemicals                            3.10     2.48     1.93     5.92     6.66     6.93     8.53     8.44     7.45     8.14     7.94
      Medicines and
      Pharmaceuticals                      2.53     1.65     0.97     1.28     1.50     1.48     1.99     2.07     1.97     1.93     1.84
Other Processing and Manufacturing *       2.13     1.86     1.30     1.78     2.05     2.04     3.77     4.17     3.68     3.87     4.01
      Cement                               1.53     1.62     1.19     1.76     2.01     2.03     3.97     4.05     3.65     3.79     3.87
      Rubber and Rubber Products           3.94     2.67     1.74     2.58     2.76     2.72     3.12     3.26     3.03     3.16     3.27
      Paper and Paper Products             1.73     1.96     1.22     1.76     2.20     2.23     5.17     6.01     5.06     5.32     5.63
Other Industries                           3.11     2.55     2.28     3.25     3.50     3.65     5.18     5.13     4.38     4.43     4.37
      Electricity Generation and Supply    3.07     1.90     2.05     2.69     2.33     2.57     3.10     3.19     2.93     3.04     3.03
      Trading                              2.73     2.05     1.51     2.31     2.37     2.43     2.53     2.61     2.38     2.48     2.47
      Shipping                             1.29     2.70     2.65     3.70     4.33     4.77     7.34     6.56     5.36     5.64     5.57
      Hotels                               3.25     0.85     0.66     0.81     0.73     0.71     0.85     0.89     0.72     0.76     0.77
      Financial and Investment             4.90     3.78     3.57     5.84     5.13     5.56     7.79     7.90     7.26     6.59     6.22
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*   Includes the sub-group Others/Miscellaneous

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