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Thursday, February 19, 2004

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FINANCIAL SERVICES
HSBC Financial hikes stake in SSI
HSBC Financial Services (ME) Ltd has increased its shareholding in SSI Ltd by 1.48 per cent to 6.13 per cent. This follows acquisition of two-lakh SSI shares by HSBC Financial on February 13 in the open market, according to information available ... More

MUTUAL FUNDS
Feel good! Global mutual fund products soon at your doorstep
SO what if you are living in New Delhi, your money could be growing in New York! Global mutual funds and insurance schemes will soon be available to local investors. Fund houses are in the process of empanelling distributors to enable them ... More

TECHNICAL ANALYSIS
Narrow movement
THE sentiment reading of the tradable counters continues to remain bullish. Bear dominance on Thursday is likely to turn the sentiment reading in favour of bears. Otherwise, the prevailing bullish sentiment is likely to continue with added ... More

STOCK EXCHANGES
IndoNext proposal likely to be cleared by BSE soon
THE board of Bombay Stock Exchange is likely to approve the draft proposal of IndoNext trading platform by month-end and pass it on to the market regulator, the Securities Exchange Board of India (SEBI), for final approval. The Federation of ... More

STOCK MARKETS
Good chemistry
A COUPLE of domestic mutual funds are said to be quite bullish in the Gujarat Narmada Valley Fertiliser Company. According to a market source, the two funds have been accumulating the stock for a while. The source said the main inspiration for ... More

DERIVATIVES MARKETS
Tata Steel: Outlook negative, buy February 440 puts
THE following strategies are based on Wednesday's trading in the spot and the derivatives segments on the NSE: Tata Steel: The stock closed at Rs 450 in the spot market. The outlook appears negative. The downside price target is Rs 440. ... More

FOREIGN INSTITUTIONAL INVESTORS
Actis to invest $500 m more in emerging markets
ACTIS, a private equity management firm carved out of CDC Capital Partners, plans to raise funds under its management in emerging markets to $3 billion over the next three years from the current $2.5 billion, a news release announcing the ... More

INVESTOR GRIEVANCES
Unclaimed dividends transfer: DCA urged to be lenient
INDIA Inc has urged the Department of Company Affairs (DCA) to adopt a `lenient' view on delays caused in transfer of amounts unclaimed by shareholders to the Investor Protection & Education Fund (IE&PF). Companies feel that the delay is not More

EVENTS
Workshop on shareholder value
HOW can corporate managers maximise shareholder value? What are the strategies and operational actions needed to achieve this? How is shareholder value estimated? In an attempt to provide answers to these questions, which are assuming greater ... More

COMMENTARY
HLL leads fall as 3-day rally snaps
DRIVEN primarily by weakness in FMCG major Hindustan Lever, the three-day rally at the markets came to a halt. The Sensex ended the day at 6027.02 points, a drop of 8.78 points compared to its close on Tuesday; the Nifty ended at 1916.45 points, ... More

PUBLIC OFFER
IPCL floor price set at Rs 170 per share — Retail investors to get 5 pc discount
THE Government has set a floor price of Rs 170 per share for IPCL and will offer a five per cent discount to the retail investors in the forthcoming public offer for sale of 29 per cent of its residual stake in the Reliance-controlled ... More

RIGHTS ISSUE
Parry Agro plans rights issue to raise Rs 9.39 cr
It will issue 6.26 lakh shares of Rs 10 each at Rs 150 a share, according to information given by the company to the stock exchanges. Shareholders will get one share through the rights issue for every six shares they hold. Promoters hold ... More

Balrampur Chini rights issue
KOLKATA: Balrampur Chini Mills Ltd (BCML) has decided to raise Rs 59.19 crore through rights issue to meet long-term working capital requirements and for improvement of debt-equity ratio. A senior BCML official said existing ... More


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