Financial Daily from THE HINDU group of publications
Tuesday, August 27, 2002
Markets (Aug. 26)
BL 2501095.32 (+6.08)
BSE Sensex3123.60 (+4.42)
S&P CNX Nifty998.85 (+3.65)
Dollar (Buy/Sell)48.47/48.60
Gold Std (10 gm)5075 (+15)

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MARKETS

OPEN OFFERS


Fall-out of Reliance open offer — IPCL goes into a tailspin
INDIAN Petrochemicals Corporation Ltd (IPCL) stock has gone into a tailspin with the closing of the open offer by Reliance Industries which acquired control of the company recently. The share has lost 22 per cent over the past 10 days to close at ... More

Open offer talk lifts Castrol
CASTROL India today closed with a gain of 3.84 per cent at Rs 212 on the National Stock Exchange on strong market expectation of an open offer by British Petroleum-Amoco, its parent, to mop up the non-promoter holding of around 29 per cent in the ... More

FINANCIAL SERVICES


CDSL revives LoTUS scheme
CENTRAL Depository Services (India) Ltd (CDSL) announced that it has decided to reopen the Low Tariff Unlimited Service (LoTUS) scheme for registration. According to a release, the registration of investors demat accounts under the scheme, ... More

MUTUAL FUNDS


Sundaram Mutual to launch debt scheme
CLOSE on the heels of three new mutual fund offerings, Sundaram Mutual Fund has announced the launch of yet another debt product — Sundaram Debt Fund. The fund, which is to be open ended, is targeted at knowledgeable investors who have a ... More

TECHNICAL ANALYSIS


Bulls march ahead
BULLS extended further pressure over Monday's trading. Their dominance left the bears with no opportunity to recover during the day's trading. The market sentiment reading of the tradable counters stands strongly bullish. Bear domination on ... More

STOCK MARKETS


UTI offloads VisualSoft Tech in block deals to LIC?
VISUALSOFT Technologies today saw a significant amount of shares changing hands through block deals on the Bombay Stock Exchange and National Stock Exchange. Apart from numerous transactions involving shares ranging from 10,000 to 50,000, the ... More

FIs offload L&T
TRADING volumes in cement major Larsen & Toubro jumped on Monday. The rise in volumes was attributed to market talk that Unit Trust of India (UTI) might sell its stake to another cement major. This brought interest in the counter and some ... More

DERIVATIVES MARKETS


Satyam options dominate
OUT of 30 securities, options on 27 underlying securities got traded on Monday. The total number of contracts traded was 11,237 with a notional value of Rs 294.67 crore. August contracts (both calls and puts) attracted good attention on Monday ... More

REGULATORY BODIES & RULINGS


Govt may approach SEBI again on UTI
THE Finance Ministry is likely to approach the Securities and Exchange Board of India (SEBI), for a second time, to give its findings on the role of the initial sponsors of the Unit Trust of India in bridging the shortfall in the assured return ... More

SEBI queries Pendse on TFL insider trading
THE Securities and Exchange Board of India officials today questioned Mr Dilip Pendse, former Managing Director, Tata Finance Ltd (TFL), on his involvement in the alleged insider trading in the TFL scrip. A SEBI source said Mr Pendse was ... More

COMMENTARY


Infosys reverses direction even as Satyam, Wipro gain
THE buoyant trading interest seen on Friday did not sustain on the first day of the week. The overall trading interest remained lacklustre on Monday as selling pressure witnessed by few select stocks offset gains made by others. However, major ... More
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