The Hindu Business Line : Wednesday, February 12, 2003

Hind Motors to divest stake in Hind Powerplus
HINDUSTAN Motors Ltd has informed the Bombay Stock Exchange that its board of directors has decided to divest the company's holding of 18,00,000 shares in Hindustan Powerplus Ltd (a joint venture between Hindustan Motors and Caterpillar ... More

Matrix plans open offer at Rs 276
THE promoter group of Matrix Laboratories Ltd (MLL), a Hyderabad-based pharmaceutical company, have decided to go in for an open offer to the MLL shareholders following the recently-concluded preferential offer to the promoters. Matrix is ... More

MUTUAL FUNDS

First India MF on the block — Sahara emerges possible buyer
FIRST India Mutual Fund, promoted by Dr A.C. Muthiah, with equity participation from two overseas partners, has been put on the block. Sahara India has emerged as a possible buyer. While sources with the First India MF confirmed the ... More

Mastershares active on arbitrage hopes
UTI's Mastershare, the close-ended scheme, has been attracting a lot of investors' attention in the last few days as it provides good arbitrage opportunity in short term, brokers and mutual fund analysts said. This arbitrage opportunity arises, ... More

Reliance Capital MF plans banking scheme
RELIANCE Capital Mutual Fund has worked out a scheme exclusively for the banking sector. Reliance Banking Fund, the proposal for which has been sent to SEBI for vetting, will be the country's first sectoral fund of its kind. Up to 100 per cent ... More

TECHNICAL ANALYSIS

Narrow movement
TUESDAY'S trading activity witnessed narrow movement. Bears managed to gain marginally from the day's trading. The sentiment reading of the tradable counters remains bearish. Bull domination on Wednesday is likely to reduce the bear count by a ... More

STOCK MARKETS

FIIs shed Infosys
INFOSYS Technologies witnessed selling mainly by foreign institutional investors. According sources in the market, the reason cited for the slide is the present Iraq conflict. There are concerns that the overseas projects, which forms a ... More

Hero Honda skids to 52-week low
INVESTOR interest in Hero Honda appears to be waning following reports of the company's sales growth getting fettered by an aggressive competition. The stock, which had declined by almost 12 per cent week-on-week, fell further to hit a 52-week ... More

DERIVATIVES MARKETS

Buy Tata Steel Feb 155 puts
THE following strategies are based on Tuesday's trading in the derivatives segment on the NSE: Tata Steel: The outlook on this stock is negative. The downside price target is Rs 145. Momentum trading can, however, push the stock up to Rs ... More

REGULATORY BODIES & RULINGS

SEBI directive to SEs on subsidiaries
THE Securities and Exchange Board of India (SEBI) today directed smaller stock exchanges to restructure the management structure of their subsidiaries including appointment of an independent Chief Executive Officer (CEO) not holding any position ... More

COMMENTARY

HLL, Reliance lead recovery; HPCL star performer
THE markets opened Tuesday on a positive note only to slide down later and then recovered before close. The BSE Sensex and the NSE's Nifty were in negative territory for a major part of the day recovered their losses before close of trading ... More

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