Financial Daily from THE HINDU group of publications
Thursday, December 05, 2002
Markets (Dec. 04)
BL 2501088.19 (-15.05)
BSE Sensex3207.36 (-22.78)
S&P CNX Nifty1036.40 (-18.60)
Dollar (Buy/Sell)48.17/48.30
Gold Std (10 gm)5240 (+30)

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OPEN OFFERS


Punjab Tractors sale will trigger open offer in arms
THE strategic sale of Punjab Tractors Ltd (PTL), the tractor maker promoted by Punjab State Industrial Development Corporation Ltd (PSIDC), will trigger open offer in two other PTL-promoted companies - Swaraj Mazda Ltd and Swaraj Engines Ltd ... More

INVESTMENTS


Brainstorming session for market players on Dec 8
COME December 8 and you will get a chance to dip into the wallets of some of Kolkata's most distinguished investors, courtesy `The Sunday Forum', a newly-formed investment platform for the city's well-heeled. And to mix business with ... More

MUTUAL FUNDS


Sundaram Mutual rules out new partner — Aims to shed `southern' image
SUNDARAM Mutual Fund has ruled out the possibility of having on board a new partner, one that some quarters thought will replace its former overseas associate, Newton. The fund, having recently completed the process of buying out Newton, has ... More

TECHNICAL ANALYSIS


Bear onslaught
BEARS extended their pressure over Wednesday's trading activity. Their dominance for the second successive trading day left the bulls with no opportunity to recover. Stock prices across the board fell sharply. The market sentiment reading of the ... More

STOCK EXCHANGES


CSE scam probe: Broker Singhania in custody
MR S.C. Misra, Chief Metropolitan Magistrate (CMM), Calcutta, has remanded Mr Dinesh Singhania to jail custody till December 17. Mr Singhania, a share broker, was arrested by the Calcutta Police on a charge of conspiracy for defrauding the ... More

STOCK MARKETS


Open offer hopes pep up Colgate
There was a sharp rise in Colgate Palmolive on Wednesday. The stock gained 3.92 per cent at Rs 133.95 on the BSE with volumes of 81,571 shares. On the NSE, the stock closed at Rs 134, up 4.12 per cent with volumes of 1.29 lakh shares. Dealers ... More

Hindalco slips on LME prices — Indo Gulf takes a reverse hit
THE Hindalco stock today declined on the major bourses mainly because of profit-bookings and also to some extent on easing of aluminium prices at the LME on Tuesday. After touching a day's high of Rs 557, the stock closed at Rs 540.30, ... More

Wipro falls 10 pc
WIPRO fell sharply today on media reports that the company might issue more American Depository Receipts (ADRs) to fund its new acquisitions. The stock fell 10 per cent to Rs 1,536.50 on the BSE with volumes of 11.66 lakh shares. On the NSE, ... More

Punjab PSUs harvest on divestment hopes
PUNJAB Tractors, Punjab Alkalies and Chemicals and Punjab Communications witnessed a surge along with increased volumes on divestment hopes on Wednesday. The State Government has invited bids for a 23.5-per cent stake in the country's second ... More

DERIVATIVES MARKETS


Buy December puts on Tata Steel, L&T
THE following strategies are based on Wednesday's trading in the derivatives segment at the NSE: Equity options: Tata Steel: The outlook on this stock appears negative. The downside projection is Rs 125, while the upside ... More

ASSET MANAGEMENT COMPANIES


Former Pioneer ITI chief plans to set up AMC
A FEW months after the curtains came down on Pioneer ITI Mutual Fund, courtesy a successful takeover bid mounted by Franklin Templeton Investments, Mr Vivek Reddy, who helped set up India's first private sector mutual fund, is closer to ... More

REGULATORY BODIES & RULINGS


SEBI makes changes in insider trading norms
ARMED with the experiences gained from some recent controversial takeover cases, the Securities and Exchange Board of India (SEBI) has amended its "insider trading" regulations, whereby the existing restriction (Regulation 3A) prohibiting a ... More

SEBI to review VC funds norms
THE Securities and Exchange Board of India (SEBI) will review the guidelines for venture capital (VC) funds in order to attract fresh funds into the various emerging sectors of the country. The VC guidelines are over two years old and the ... More

Grasim-L&T case: Bajpai assures early decision
THE SEBI Chairman, Mr G.N. Bajpai, has promised that the capital market regulator would complete its investigations on Grasim's acquisition of initial stake in L&T without much delay. SEBI has started investigations into Grasim's acquisition of ... More

COMMENTARY


IT stocks lead market downfall; Reliance up
A steep fall in key information technology stocks pulled down the bourses for the second day this week, after a sharp rally of the past two weeks was abruptly halted on Tuesday. Wednesday's trading session was characterised by a decline in many ... More
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