The Hindu Business Line : Saturday, May 10, 2003

Fund managers stay with banking sector
FUND managers seem to be bullish about the banking sector given a structural shift in lending towards retail assets and likely NPL recoveries through the asset reconstruction companies (ARCs), according to the DSP Merrill Lynch India Domestic ... More

Canbank MF declares interim
CANBANK Mutual Fund announced a 7.5-per cent interim dividend on Canpremium, a debt-oriented balanced scheme, which has a face value of Rs 10, under the income plan. The NAV of the scheme is Rs 12.88 under income plan and Rs 13.66 under the ... More

TECHNICAL ANALYSIS

Narrow movement
FRIDAY'S trading activity witnessed narrow movement. Bears managed to gain from the day's trading. The market sentiment reading of the tradable counters stands bearish. Bull domination on Monday is likely to reduce the bear count by a substantial ... More

STOCK EXCHANGES

Birla VXL to delist from 3 SEs

STOCK MARKETS

Investors fancy cos with high dividend yield
"If the yield is 8 per cent for a stock, the effective yield (after tax) is much higher for individuals in highest tax bracket." More

Auto-ancillary stocks rally on overseas order hopes
SHARES of auto-ancillary stocks gained momentum today on expectations that the companies may witness substantial growth on the back of huge overseas orders. Stocks such as Motherson Sumi, Sundaram-Clayton, Exide, Ucal Fuel System, and Premier ... More

Digital hit on merger talk
JUST ahead of the financial results, the counter of the Bangalore-based software company, Digital Globalsoft seems to be hit by the negative sentiment. This has been due to various factors including speculation on a `likely' merger with its ... More

DERIVATIVES MARKETS

HPCL contracts active
TRADING at the derivative segment remained lacklustre on the NSE on Friday as turnover tumbled to about Rs 1,910 crore as against Thursday's Rs 2,423 crore. Index futures: The May futures were the most active with more than 10,000 ... More

COMMENTARY

HLL touches new 52-week low
THE market was range-bound and closed lower in the negative territory. The BSE Sensex closed lower by 11.60 points at Rs 2950. The S&P CNX Nifty declined 2.40 points to close at Rs 939.15. The Sensex opened the day lower at Rs 2953.12 and ... More

ECONOMIC OFFENCES

Jaswant tables Action Taken Report on JPC findings — Closer vigil on stock markets
INDICATING towards a sea-change in regulators framework for the country's capital market, the Action Taken Report (ATR) on the report of the Joint Parliament Committee (JPC) on stock scam has said that the impending measures include an integrated ... More

ED probe into 8 companies
THE Enforcement Directorate (ED) has initiated investigations into eight companies — Maars Technologies, Mascon Global, Mukta Arts, Tips Industries, Balaji Telefilms, Kopran group, Nirma group and Cadilla group for involvement in market ... More

Participatory notes by FIIs — SEBI may seek more disclosures
THE Securities and Exchange Board of India (SEBI) is considering steps to include disclosure of information about the terms, nature and contracting parties to the participatory notes (PNs) issued by foreign institutional investors (FIIs). This ... More

RBI studying portfolio investment schemes
THE Reserve Bank of India (RBI) is carrying out an internal study on portfolio investment schemes (PIS) after the OCB route was misused during the 2001 stock market scam. The study is being carried out after the capital markets regulator ... More

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