Financial Daily from THE HINDU group of publications
Tuesday, February 17, 2004

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MARKETS

PRIVATE PLACEMENT
Welspun board to decide on equity issue
WELSPUN India Ltd has informed the Bombay Stock Exchange that a meeting of the company board will be convened shortly to decide the modality of the issue of securities of the aggregate issue size of Rs 100 crore to part finance the expansion ... More

TECHNICAL ANALYSIS
Initial gains not held
BULLS extended their dominance during the morning session of Monday's trading. Later on, bears took over and wiped out their day's losses. The sentiment reading of the tradable counters continues remains bullish with no downtrend counters. Bear ... More

STOCK MARKETS
Alembic shoots up on bonus tonic
SHARES of pharma firm Alembic Ltd touched a 52-week high of Rs 579.90 on Monday on the BSE. The major driver for the stock is the announcement of the bonus issue in the ratio of two equity shares of Rs 10 for every share held, including to those ... More

GlaxoSmithKline Pharma: Land sale kicker
THERE was good buying interest at the counter of GlaxoSmithKline Pharmaceuticals on Monday on unconfirmed reports that the drug-maker has concluded the much-speculated sale of its Worli property. A stock market source said the company has ... More

Boehringer deal boosts Cadila
CADILA Healthcare stock is drawing attention of investors following its announcement on February 13 that it has entered into a long-term strategic pact with Boehringer Ingleheim. It today closed at Rs 436.25 (Rs 429.25), after creating an ... More

Strong order book propels Walchandnagar
THE stock of engineering company Walchandnagar Industries surged on the bourses backed by sustained buying support. The stock, which had touched Rs 65 levels on Feb 3, has since then appreciated by almost 43 per cent to its current levels of Rs ... More

DERIVATIVES MARKETS
BSES: Outlook positive, buy March futures
THE following strategies are based on Monday's trading in the spot and the derivatives segments on the NSE: BSES: The stock closed at Rs 667 in the spot market. The outlook appears positive. The upside price target is Rs 725. Consider ... More

COMMENTARY
Auto stocks in the driver's seat
THE markets closed flat on Monday, relinquishing almost all the gains of the enthusiastic charge-up in morning trade. Click here for table The benchmark indices were dragged down by weakness in heavyweights such as ... More

IPOS
FII inflows to persist despite IPO rush, say brokers
PUBLIC offers of around Rs 15,000 crore to Rs 17,000 crore in the next few weeks are unlikely to have any negative impact on the stock market or on the foreign fund flows to the Indian equity market, according to stock brokers and analysts. On ... More

PUBLIC OFFER
IPCL road shows to begin today
A WEEK-long road show for the public offer of Government's residual equity in Reliance-controlled IPCL would begin on Tuesday in Mumbai. The road show will continue till February 24. The road shows would be held in the presence of Mr Arun ... More

RIGHTS ISSUE
Global Trust Bank mulls rights issue
THE capital-starved Global Trust Bank is considering a rights issue along with other options. Mr Sudhakar Gande, Managing Director, Global Trust Bank, immediately after the board meeting here on Monday said, "We are looking at raising Rs ... More


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