The Hindu Business Line : Friday, August 23, 2002

Reliance open offer for IPCL draws huge response
INDIAN Petrochemicals Corporation Ltd (IPCL) ended 5.54 per cent lower on the BSE at Rs 131.40 on the closing day of the open offer made by Reliance Industries. The latter made an open offer to buy out the 20-per cent stake in IPCL at Rs 231 per ... More

TECHNICAL ANALYSIS

Narrow movement
FOR the second successive trading day, market witnessed narrow movement. However, bears were successful in initiating the downtrend in a few counters. Click here for table The market sentiment reading of ... More

STOCK MARKETS

Substantial volumes in Hindustan Motors
THE Hindustan Motors stock today recorded substantial volumes, thanks to a number of block deals, on the major bourses. It closed at Rs 8.65, a gain of 7 per cent on the National Stock Exchange and the Bombay Stock Exchange. On the NSE, a ... More

Order talk spurs activity in Digital
DIGITAL GlobalSoft, a Banglore-based software solutions provider, saw significant volumes on the bourses on Thursday. According to analysts, the spurt in volumes is related to a rumour that the company has received a non-HP order worth about $3 ... More

Sun Pharma gets support from Caraco revival
THE stock of the Mumbai-based Sun Pharmaceuticals Industries has seen a lot of volatility in the past one month. Analysts say the ups and downs could be linked to the fortunes of its overseas associate company, Caraco Pharmaceuticals, in which it ... More

Tata Engg, Citibank in fungibility deal
TATA Engineering & Locomotive Company Ltd has signed an agreement with its depository for GDR holders, Citibank N.A for two-way fungibility of GDRs with ordinary shares of the company. The scheme is operational with effect from August ... More

DERIVATIVES MARKETS

Buy September L&T puts
THE following are some buy/sell strategies based on Thursday's trading in the derivatives segment at the NSE: Equity options: L&T carries limited upside from the current levels. The stock may face resistance at Rs 178, but could move up ... More

INVESTOR GRIEVANCES

`Makharias clandestinely acquired stake in UWB'
THE Investors' Grievances Forum (IGF) has alleged that the Makharia group, several companies of which are on the list of wilful defaulters, has "clandestinely" acquired about 17.5 per cent stake in the Satara-based United Western Bank (UWB). A ... More

REGULATORY BODIES & RULINGS

DCA detects breach of laws by Credit Suisse
THE Department of Company Affairs (DCA) has detected a number of violations of the Companies Act by Credit Suisse First Boston (India) Securities Private Ltd (CSFB). This opens up the possibility of the examination of its transactions relating to ... More

COMMENTARY

Drought levy report hits sentiment
MIMICKING the overall trend recorded on Wednesday, the market sentiment on Thursday continued to remain listless. After opening on a positive note at 3094.18, the Sensex drifted aimlessly within a narrow band of about 17 points. It ended the day ... More

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