The Hindu Business Line : Wednesday, January 22, 2003

Matrix mulls pref offer; board to meet on Jan 28
THE board of directors of Matrix Laboratories Ltd, the Hyderabad-based pharmaceutical company, would meet on January 28 to consider a proposal to offer shares to the promoters group on a preferential allotment basis. According to the company, ... More

TECHNICAL ANALYSIS

Narrow movement
TUESDAY'S trading activity witnessed narrow movement. Neither the bulls nor the bears could gain much from the day's trading. The sentiment reading of the tradable counters continues to remain bearish. Bull domination on Wednesday is likely to ... More

STOCK MARKETS

Steel stocks surge on price hike, performance hopes
STEEL companies have been on the uptrend on the back of rise in the price of steel. In addition, the stock price gains have also been attributed to the expectations of good third quarter financial performance. Some of the steel companies whose ... More

FII selling chokes ITC
ITC came under selling pressure on Tuesday. Market players attributed the selling to the possibility of the Government plans to impose Value Added Tax (VAT) on cigarettes. This was not the only reason for the stock's fall. Dealers said some ... More

Value buying lifts Pidilite Industries
PIDILITE Industries Ltd (PIL) appears to have captured market interest by virtue of trading at far lower multiples in comparison to other leading consumer goods companies. Market players maintain that PIL continues to attract valuations similar ... More

NHB amends norms for capital market exposure of HFCs
NATIONAL Housing Bank has amended its guidelines to allow housing finance companies (HFCs) a maximum exposure in the capital market to five per cent of its total outstanding advances as on March 31 of the previous year. The ceiling would apply on ... More

DERIVATIVES MARKETS

Consider January bull call-spread on BPCL
THE following strategies are based on Tuesday's trading in the derivatives segment on the NSE: Equity options ACC: The immediate outlook on this stock is negative. The downside price target is Rs 146. The risk is that the stock ... More

COMMENTARY

Tech stocks battered; SBI, Grasim shine
AFTER a sharp slide on Monday, the stock market staged a recovery on Tuesday. The Sensex went up by 12.25 points or 0.37 per cent to end at 3354.14. The NSE Nifty inched up by 1.55 points to close at 1077.9. While the indices managed to close on ... More

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