Fast track
Auto cos: Set for a Grand Prix?
WITH just a week to go for the Union Budget, the market seems to be groping for direction. In spite of heavy funds inflow from the foreign institutional investors (FIIs), there has not been much activity on the bourses.
Impact
Aptech: Demerger blues
THE implications of the announcement of the demerger of the software division of Aptech and its eventual merger with Hexaware Technologies, a company controlled by the Chairman of Aptech, is likely to unravel only after the swap ratio for the demerger an
d merger are announced. Till such time, the stock price is likely to exhibit a greater degree of volatility on the bourses.
Sterlite: Near-term spurt on cards
THE proposed acquisition of a 51 per cent stake in Bharat Aluminium Company (Balco) by Sterlite Industries is likely to give a fillip to the valuation of the stock of Sterlite Industries in the near term. However, the long-term implications of this deal
for the stock price movements are not that clear.
United Breweries: Stake consolidation
THE decision by United Breweries (UB) to acquire a 100 per cent stake in Associated Breweries should infuse some positive sentiment in the valuation of the UB stock.
Stocks
LYONS RANGE
THE Calcutta Stock Exchange on Thursday saw some select equities move up on square-off pressure because of weekly settlement. As a result, the counters of ITC, Reliance Industries and Ranbaxy moved up. However, stocks of Kesoram, Global Telesystems, Pent
amedia Graphics, Tata Tea and Rolta continued to weaken further.
IT stocks sweat on Nasdaq heat
THE Bombay Stock Exchange witnessed another day of roller-coaster ride on Thursday and the 30-scrip market barometre - the Sensex - closed down 39.68 points (0.92 per cent) to end the day at 4252.27 points from the previous day's close of 4286.63 points.
Technical Analysis
Bears dominate
THE bears dominated almost throughout the day on Thursday. The index finally closed with a loss of fifteen points. As a result, the downtrend continued for the sixth calendar day, gaining further strength. The sentiment was also strongly bearish with add
ed strength.
