The Hindu Business Line : Wednesday, November 27, 2002

Damodaran to head both UTI-I, II `for time being'
THE Government has decided to put the UTI Chairman, Mr M. Damodaran, in charge of both UTI-I and UTI-II in the near term, according to senior Government officials. Mr Damodaran, who has completed over one year as Chairman of UTI, would now head ... More

TECHNICAL ANALYSIS

Bulls march ahead
BULLS were in control of Tuesday's trading activity. Their dominance has now extended for the tenth successive trading day. During the wee hours of the day's trading, bears managed to make a partial recovery. The market sentiment reading of the ... More

STOCK MARKETS

Low crop blends flavour to Tata Tea
THE Tata Tea stock has gained sharply in recent times on reports of tea prices firming up. According to Mr Arun Kejriwal, market analyst, fall in domestic and overseas production has contributed to the firm trend in tea prices after a long time ... More

FIs lapping up L&T shares
IN the midst of uncertainty over the fate of Grasim open offer for L&T shares, domestic financial institutions have been busy making purchases in L&T shares from the secondary market over the last 8-10 days. Stockbrokers said financial ... More

Hind Motors up on positive triggers
THE Hindustan Motor stock has been riding on a number of positive news. The stock has appreciated by 25 per cent from Rs 7.5 level over the past 12 days. Today the stock closed at Rs 9.35 on the Bombay Stock Exchange after touching a day's high ... More

Indigo drives up Tata Engg
TATA Engineering stock has been in demand during the last few days. On Tuesday the stock touched a new 52-week high. The price rise has been attributed to two factors. First, the company's plan to launch a new car `Indigo' in January next year ... More

Retail interest more in IT, less in FMCG scrips in 2002
THE Indian public find the stocks of IT companies more attractive and those of fast moving consumer goods manufacturers (FMCG) less attractive now than in 2001. An analysis of the shareholding pattern of the Indian public in listed companies, ... More

Divestment hopes revive HPCL
THE HPCL stock has been attracting sharp activity in the last two days. Market sources attributed the sudden increase in the activity to a possible Cabinet decision on the divestment of Government stake in Hindustan Petroleum Corporation Ltd. ... More

DERIVATIVES MARKETS

Infosys: Outlook negative, buy December 4600 puts
THE following are some buy/sell strategies based on Tuesday's trading in the derivatives segment at the NSE: Equity options: The outlook on Infosys appears negative. The downside projection is Rs 4295, while the upside projection is Rs ... More

NSE derivatives turnover crosses Rs 3,000 cr
TRADING volumes on the National Stock Exchange (NSE) derivatives segment today crossed the Rs 3,000-crore mark for the first time since the launch of the derivatives trading. The exchange recorded volumes of Rs 3028.15 crore. The previous ... More

REGULATORY BODIES & RULINGS

Grasim hearing today as SEBI makes its case
THE Securities and Exchange Board of India (SEBI) today filed an affidavit before the Securities Appellate Tribunal (SAT) - as instructed by the latter - to show that it has fresh evidence to investigate whether the Birlas obtained ... More

SEBI argument
MUMBAI: According to sources who claimed access to the SEBI affidavit, some of the points made by the regulator to support that Grasim had controlled L&T were; that Grasim recommended appointment of two directors on the board of L&T; that ... More

SEBI to review `takeover code'
THE Securities and Exchange Board of India (SEBI) is expected to take a re-look at the provisions of the `takeover code' in view of the recent developments involving Larsen and Toubro and Grasim, and ACC and Gujarat Ambuja cases. The issue is ... More

COMMENTARY

Gains in Reliance, HLL keep market buoyant
THE benchmark BSE Sensex, for the eighth consecutive day, went up on Tuesday closing at a four-month high. Despite the selling pressure witnessed by the key tech stocks such as Infosys Technologies, indices were up backed by buying interest in ... More

ECONOMIC OFFENCES

No inspection of Tata Fin books
THE Government has not ordered any inspection or checking of the accounts of Tata Finance under the provisions of the Companies Act, the Finance Minister, Mr Jaswant Singh, told the Rajya Sabha on Tuesday. However, the Securities and Exchange ... More

Banking advisory board to probe UTI investments
THE investments made by the Unit Trust of India in Essar Oil and 18 other companies have been referred to the Advisory Board on Banking, Commercial and Financial Frauds, the Finance Minister, Mr Jaswant Singh, said on Tuesday. A committee ... More

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