Financial Daily from THE HINDU group of publications
Friday, October 25, 2002
Markets (Oct. 24)
BL 2501016.11 (-7.33)
BSE Sensex2908.05 (-40.91)
S&P CNX Nifty946.90 (-10.45)
Dollar (Buy/Sell)48.35/48.48
Gold Std (10 gm)5130 (-30)

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MARKETS

MUTUAL FUNDS


SBI Funds MD steps down
LESS than a year after taking over as Managing Director of SBI Funds Management Ltd, Mr R.J. Chand, has decided to step down, it is reliably learnt. A senior SBI hand, currently posted in Africa, is expected to replace him. SBI Funds Management ... More

TECHNICAL ANALYSIS


Bear onslaught
BEARS were in total command of Thursday's trading activity. Their dominance for the fourth successive trading day left the bulls stranded. The market sentiment reading of the tradable counters continues to remain bearish. In the normal course of ... More

STOCK MARKETS


Heavy trading in Morepen Labs
MOREPEN Laboratories has been witnessing a lot of interest in the recent past on the major bourses. While there has been no sustained uptrend in price, the stock has attracted large volumes. Yet market watchers are taking a sceptical view of the ... More

MTNL sees heavy selling
THE MTNL stock today saw huge offloading by FIIs followed by traders and operators on the major bourses. On the NSE, the counter declined by 6.48 per cent to close at Rs 95.30 and witnessed volumes of over 15.30 lakh shares. The 52-week low of ... More

HCL Tech under `sell' influence
HCL Technologies continued to move downward following the announcement of its September quarter financial performance, which was below market expectation. The stock has been recommended `sell' as the company's inorganic business is not showing ... More

Grasim raises stake in L&T
GRASIM Industries Ltd and its wholly-owned subsidiary, Samruddhi Swastik Trading and Investments Ltd, have acquired an additional 56.10 lakh shares representing 2.26 per cent stake in Larsen & Toubro Ltd. Following this acquisition, Grasim and ... More

DERIVATIVES MARKETS


Tata Engg: Buy Nov 135 calls
THE following are some buy/sell strategies based on Thursday's trading in the derivatives segment at the NSE: Equity options Tata Engg: The near-term outlook on the stock appears negative. The price projection on the downside is ... More

INVESTOR GRIEVANCES


Grasim offer: Forum warns SEBI, FIs
THE Investor's Grievances Forum (IGF) has said it will file public interest litigation against SEBI and financial institutions such as UTI, LIC and GIC if they fail to block the open offer by Grasim to shareholders of L&T at Rs 190 per ... More

REGULATORY BODIES & RULINGS


Lalbhais' plea on Amtrex turned down — Repurchase from ICICI to invite takeover code: SEBI
THE Securities and Exchange Board of India (SEBI) has asked Asman Investments Ltd (acquirer), a Lalbhai group company, to make an open offer to the shareholders of Amtrex Hitachi Appliances if it acquires more than 15 per cent shares of Amtrex ... More

COMMENTARY


Concerns over earnings hit sentiment
WITH a 40.91-drop on Thursday, the Sensex registered a fourth consecutive day of decline. After opening at 2944.28, the index managed to scale to a high of 2958.01 before closing at 2908.05, just a shade above the day's low of 2906.2. The NSE ... More

IPOS


Allahabad Bank IPO fully subscribed
ALLAHABAD Bank's IPO has been fully subscribed, according to informed sources. The issue on offer was for mopping up Rs 100 crore. Nearly 90 per cent of the issue amount was subscribed in the first day itself by nearly 50,000 retail investors. ... More
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