The Hindu Business Line : Thursday, February 27, 2003

Grasim values L&T cement biz at Rs 130 per share
GRASIM Industries has put the value of Larsen & Toubro at Rs 292.5 per share in its alternative proposal for the cement division of L&T. Details of this proposal, which was made to the L&T board on January 27, were disclosed in a notice to the ... More

Murugappa group co stake in Parry Agro may go up to 31%
IF the open offer by New Ambadi Investments (Pvt) Ltd, part of the Murugappa group, to the non-promoter shareholders of Parry Agro Industries Ltd is fully subscribed, its shareholding in the company will go up to 31 per cent from 8.3 per cent ... More

MUTUAL FUNDS

JM Mutual plans income scheme on floating rate
JM Mutual Fund plans to come out with an income scheme that will significantly invest in floating rate instruments. The proposed JM Floater Fund will under normal circumstances allocate at least 35 per cent of its assets to floating rate paper ... More

No threat of closure: PNB Caps
PNB Asset Management Co, the 100 per cent mutual fund subsidiary of Punjab National Bank (PNB), has clarified that it is under no threat of closure. Reacting to the story titled `Replacement for IDBI as mutual fund partner; Principal Group in ... More

TECHNICAL ANALYSIS

Bears march ahead
BEARS extended further pressure during Wednesday's trading. Bulls were unable to make any impact during the day's trading. The market sentiment reading of the tradable counters stands strongly bearish. Bull domination on Thursday is likely to ... More

STOCK MARKETS

BHEL sparkles on FII exit
SINCE the passage of Electricity Bill, BHEL is on an upward move. But the interesting part is that the counter has gained more than Siemens and ABB, which are expected to gain more from the Bill. The talk is that a leading FII, which held ... More

Freight cut lifts cement stocks
THE cement stocks today moved up on the back of the Railway Budget for 2003-04, which reduced the freight rates for cement and clinker. For the L&T counter, an additional trigger was Grasim's price offer for gaining control of the company. The ... More

PSU bank stocks tumble ahead of Budget
JUST ahead of the Union Budget, most public sector banks fell on expectation that the Government may not allow the much-expected hike in foreign holding in these banks. The selling trigger in most counters came following the Finance Minister, ... More

DERIVATIVES MARKETS

Polaris: Outlook negative, buy March 140 puts
THE following strategies are based on Wednesday's trading in the derivatives segment on the NSE: Equity options Polaris: The outlook on this stock is negative. The downside price target is Rs 123. The risk is that the stock may ... More

COMMENTARY

Heavyweight drags Sensex; IT continues to suffer
THE markets continued to be in the grip of selling pressure as the weakness in key index stocks dragged the benchmark BSE Sensex by 21.44 points closing for the day at 3260.48 points. The Nifty shed 5.9 points to end at 1049.65 points. The ... More

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