Financial Daily from THE HINDU group of publications
Wednesday, July 02, 2003
Markets (July 1)
BL 2501288.08 (-1.70)
BSE Sensex3604.43 (-2.70)
S&P CNX Nifty1130.70 (-3.45)
Dollar (Buy/Sell)46.41/46.54
Gold Std (10 gm)5355 (+40)

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Oscar Investment's debenture rated `high safety'
ICRA has assigned a conditional LAA (SO) rating to the Rs 75-crore share-backed debenture programme of Oscar Investments Ltd, a company promoted by the Ranbaxy group. This is the first share-backed programme of its kind announced by the rating ... More

Hexagon to focus on high net worth individuals
THE city-based Hexagon Capital Advisors, a wealth management company, is increasing its focus on high net worth (HNW) individuals this year. With about Rs 250 crore being `managed' by it this year, the company is targeting individuals requiring ... More

MUTUAL FUNDS


Principal MF to buy Sun F&C
PRINCIPAL Mutual Fund, which recently acquired full control of its asset management company by buying out its joint venture partner IDBI for about Rs 90 crore, today said it had reached an agreement with Sun F&C mutual Fund to take over and ... More

Standard Chartered MF clarifies
With reference to the news report titled `StanChart MF open to acquisitions', which appeared in these columns on June 25, Mr Naval Bir Kumar, MD, Standard Chartered Mutual Fund, writes: We refer to the first two paragraphs of the ... More

Sundaram Select Mid Cap declares Rs 2.50 dividend
SUNDARAM Select Mid Cap, an equity fund launched by Sundaram Mutual, has declared a maiden dividend of Rs 2.50 per unit of Rs 10 face value. The scheme was launched in July 2002. The record date for the purpose of dividend of the scheme was ... More

TECHNICAL ANALYSIS


Bull run arrested
TUESDAY's trading activity witnessed narrow movement. Bears were successful in reducing the bull count by a considerable margin. However, the sentiment reading of the tradable counters stands mildly bullish with no downtrend counters. Bear ... More

STOCK EXCHANGES


BSE, regional bourses to consider alliance
JULY 5 may be a milestone in the Indian securities market. On that day, Bombay Stock Exchange (BSE) and a few regional exchanges will meet in Kochi to decide on a possible alliance, thereby clearly demarcating the system into the National Stock ... More

STOCK MARKETS


SAW pipes cos shares gain on good order position
THE share price of SAW (submerged arc welded) pipes-making companies has gained sharply in the last one month due to good order position. According to analysts, the recent discovery of gas finds and oil discoveries provides good potential for ... More

JB Chemicals high on sales hopes
The stock of Mumbai-based pharma company JB Chemicals is in the limelight with investors flocking the counter on account of anticipations of a considerable rise in domestic formulations business this year. Dealers say that investors are ... More

Monsoon augurs well for Escorts
IN what would appear to be a ripple effect in a bull market, shares of Escorts Ltd have been gaining momentum on the bourses. According to the market grapevine, the prevailing feel good factor impacting many of the auto counters, comes in the ... More

Indian Rayon stock hits 5-year high
THE Indian Rayon stock today attracted substantial allround buying interest, particularly from institutions. The stock touched its five-year high on rerating jig. According to dealers, the buy orders poured in from mutual funds, FIs and FIIs. ... More

DERIVATIVES MARKETS


Construct July strangle on Tata Steel
THE following strategies are based on Tuesday's trading at the derivatives segment on the NSE: Tata Steel: The outlook on this stock is uncertain. The upside price target is Rs 190. The downside price target is Rs 150. Note that the ... More

COMMENTARY


Mid-caps, steel stocks flare up
THE much-awaited correction in stock prices materialised on Tuesday. However, the resistance was muted and stock prices retraced from their lows of the day. The Sensex, which had shed 33 points at one time during the day, recovered to close above ... More
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