Financial Daily from THE HINDU group of publications
Thursday, October 16, 2003
Markets (Oct. 15)
BL 2501701.97 (+13.14)
BSE Sensex4855.26 (+73.23)
S&P CNX Nifty1537 (+16.20)
US Dollar (Buy/Sell)45.64/45.78
Gold Std (10 gm)5665 (+20)

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Tata group cos exempted from open offer for TFL
THE Securities and Exchange Board of India (SEBI) exempted the two Tata group companies from making an open offer for Tata Finance Ltd (TFL) shares as it accepted the latter's plea of special circumstances surrounding the acquisition. In ... More


US-64 wipes out shortfall in NAV
THE steep rise of stock valuations in the equity market has helped Unit Scheme — 1964, flagship of the erstwhile Unit Trust of India, to wipe out the entire shortfall in its net asset value. On October 15, the net asset value of the scheme ... More

AMFI moots minimum 25 holders per scheme
SCHEMES with single or a small number of unit holders continue to plague the Association of Mutual Funds in India (AMFI), which has recently recommended that a scheme should have at least 20 investors, with no single entity holding more than 25 ... More

Sundaram Mutual seeks SEBI's nod for monthly income plan
SUNDARAM Mutual Fund has sought SEBI's approval to launch a Monthly Income Plan (MIP). The fund submitted a draft offer document to SEBI last week, and it expects to finish with the regulatory formalities by November. The MIP would provide ... More


Volatile movement
BEARS extended their pressure during the initial hours of Wednesday's trading activity. Later on, bulls gained control of the day's proceedings. The market sentiment reading of the tradeable counters stands neutral. Bull domination on Thursday is ... More


Reliance rises ahead of results
THE counter of index heavyweight Reliance Industries saw active buying in the last couple of hours of trading on Wednesday. The purchase was mainly from select informed buyers. Active buying in the counter was ahead of the company's second ... More

BASF gains on `monsoon' hopes
THE BASF (India) stock on Wednesday moved up 2.6 per cent on substantial buying. The stock closed at Rs 143.90 on the BSE and at Rs 143.65 on the NSE. According to dealers, the stock was subject of attention of select operators. The counter ... More

Nicholas Piramal surges ahead
REPORTS of Nicholas Piramal being in the race to acquire the France-based generic company, RPG Aventis, saw the stock of the former surge ahead on the bourses today. Brokers, however, said that while the news may have provided a shot in the ... More


Outlook negative on Bharat Electronics, Punjab National Bank
THE following strategies are based on Wednesday's trading in the derivatives segment on the NSE: Equity options Bharat Electronics: The outlook on this stock is negative. The downside price target is Rs 450. The upside risk ... More


Dramatic recovery after initial hiccups
THE weakness and the recovery during the trading session on Wednesday in both the benchmark indices — BSE Sensex and S&P CNX Nifty — can only be termed as dramatic. Opening firm at 4790.50 (up 9 points), the Sensex dipped to 4762 ... More


Jai Balaji to float Rs 10-cr IPO
THE Kolkata-based Jai Balaji Sponge Ltd is coming out with its maiden public issue of one-crore equity shares of Rs 10 each for cash at par. The Rs 10-crore issue opens on October 21 and closes by the month-end. The amount payable on ... More


SEBI bars former Tata Finance Director from market for 5 years
SEBI has found Mr Jaivant Esvonta Talaulicar, former Director of Tata Finance, guilty of insider trading in the shares of Tata Finance Ltd and debarred him from the securities market for 5 years. Mr T.M. Nagarajan, whole-time Member, SEBI, in ... More
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