The Hindu Business Line : Tuesday, May 20, 2003

Bears prevail
BULLS exerted pressure during the initial hours of Monday's trading. Thereafter, bears took over and gained control of the day's proceedings. Monday's market action resulted in terminating most of the uptrend counters in the tradable list. The ... More

STOCK EXCHANGES

Inter-connected SE members join Indonext
INDONEXT, an initiative to create a single trading platform by South-based stock exchanges, has increased its reach following a decision by the members of the Inter-connected Stock Exchange of India (ISE) to join up. At a meeting held in Mumbai ... More

STOCK MARKETS

L&T rules above Grasim offer price
THE stock price of Larsen & Toubro (L&T) continues to rule above the open offer price of Rs 190 by Grasim Industries. What is more interesting is that the volume and delivery ratio has also been high since the offer opened on May 7, indicating ... More

Sharp fall in HPCL, BPCL stock prices
THE share price of HPCL and BPCL dipped sharply on reports that privatisation of the oil companies in the year 2003 is practically impossible due to an unidentified legal tangle in the disinvestment process. Rumours that Mr Arun Shourie — ... More

Talk of billing rate cut pulls Infy down
THE Infosys Technologies stock today witnessed a sharp fall in prices because of massive selling spree triggered by the reported decision by one of its major US clients asking for a substantial billing rate cut. The stock dropped by 6.82 per ... More

DERIVATIVES MARKETS

Open interest slips on Nifty, SBI May futures
TURNOVER at the derivative segment on the NSE on Monday improved ahead of settlement week to Rs 2958 crore as against the previous day's turnover of Rs 2631 crore. More than 50 per cent trading was done in stock futures, which accounted for about ... More

COMMENTARY

IT, PSU and bank stocks slip on selling pressure
THE stock markets broke their winning streak of last week after selling pressure on information technology (IT) stocks pushed down the indices on Monday. After opening the day on a positive note, the major indices slid during the afternoon ... More

RIGHTS ISSUES

ALF may become Ashok Leyland arm
CHENNAI: Ashok Leyland Ltd on Monday informed BSE that the company had subscribed to the Cumulative Preference Shares of Ashok Leyland Finance Ltd (ALF) against the rights issue offer made in April/May 2000. Upon such conversion and hence ... More

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