The Hindu Business Line : Friday, January 24, 2003

SBI Mutual plans to increase asset base
STATE Bank of India Mutual Fund plans to increase its corpus of funds by Rs 2,600 crore to around 7,000 crore in a year's time. The SBI Mutul Fund Managing Director, Mr P.G.R. Prasad, told newspersons on Thursday that apart from State Bank of ... More

STOCKS

LIC to take 10 pc stake in IFCI asset rejig co
LIFE Insurance Corporation of India (LIC) would take a 10-per cent stake in Asset Care Enterprise, the asset reconstruction company (ARC) set up by IFCI Ltd. "We will take up equity to the extent of Rs 2 crore. Our board has cleared the ... More

TECHNICAL ANALYSIS

Bear domination
BEARS were in total control of Thursday's trading activity. Bear dominance left the bulls with no opportunity to recover during the day's trading. The market sentiment reading of the tradable counters stands bearish. Bull domination on Friday is ... More

STOCK MARKETS

Satyam tumbles on weak numbers
SATYAM Computer Services today fell drastically along with sharp rise in the trading volumes following the third quarter results that were below the company and market expectations. Satyam closed 6.88 per cent lower at Rs 242.25 with volumes of ... More

Novartis terminates trials on Dr Reddy's compound
IN another blow to the basic drug discovery activities of Dr Reddy's Laboratories Ltd, the global pharmaceutical giant Novartis on Thursday announced its decision "to discontinue further development of DRF-4158", an insulin sensitiser compound ... More

Gearing up for Ashok Leyland
AFTER Tata Engineering, the market participants now set their eyes on heavy commercial-vehicle maker Ashok Leyland, which is scheduled to announce its December quarter financial performance on Friday (January 24). Market expectation has been ... More

UTI picks up over 5 pc stake in BEML
MUTUAL Funds, including UTI, picked up considerable stake in Bharat Earth Movers Ltd (BEML) during the quarter ended December 30, 2002. Mutual Funds holdings have now gone up to 10.31 per cent (December end) from 4.24 per cent (September end) ... More

HPCL volatile in 2002
THE top three constituents of the Sensitive Index of the Bombay Stock Exchange — Reliance Industries, Hindustan Lever and Infosys — each recorded average daily volatility of around two per cent in the last calendar year. Reliance, ... More

DERIVATIVES MARKETS

Satyam puts gain value
THE day began at the stock markets with Satyam announcing below expected financial performance, which triggered heavy action in Satyam options at the National Stock Exchange. The 250-call and 260-call (both January expiry) were the most active ... More

REGULATORY BODIES & RULINGS

SEBI debars Hinduja TMT for 2 years
THE Securities and Exchange Board of India today restrained Hinduja TMT Ltd from dealing in securities as a capital market intermediary for two years for violating its regulations. Hinduja TMT, formerly Hinduja Finance Corporation, which acted ... More

COMMENTARY

Tech stocks take a beating; Tata Steel firm
AFTER being confined to a relatively narrow trading range in the last couple of days, the benchmark indices took a sharp downward turn on Thursday. The sharp decline in technology stocks played a key role in pushing both the Sensex and Nifty to ... More

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