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Tuesday, March 30, 2004

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MUTUAL FUNDS
Karnataka Bank plans to vend mutual funds
KARNATAKA Bank, the Mangalore-based private sector bank, is planning to become a `supermarket of financial services' in the next couple of years. Having already taken up non-fund based businesses such as selling insurance products and ... More

  • Correction

    STOCKS
    Glitches in ONGC allotment; depository freezes process
    THE Government's sale of ONGC shares today ran into an unseemly mess after its issue registrar MCS Ltd apparently goofed up in allotting shares to winning bidders. The National Securities Depository Ltd froze allotment of ONGC shares to ... More

    Groupe Chimique buys 5 pc stake in GFCL
    GROUPE Chimique Tunisien has informed the stock exchanges that they have acquired 16-lakh equity shares constituting 5 per cent of the equity capital of Godavari Fertilisers and Chemicals Ltd (GFCL) from Coromandel Fertilisers Ltd (CFL). The ... More

    TECHNICAL ANALYSIS
    Bulls march ahead
    THE sentiment reading of the tradable counters remains bullish. Bear domination on Tuesday is likely to neutralise the sentiment reading. Otherwise, the prevailing bullish sentiment is likely to be further strengthened. Nifty futures ... More

    STOCK EXCHANGES
    BSE to shift indices to free-float methodology
    THE Bombay Stock Exchange (BSE) will shift the BSE-100 Index to the `free-float methodology' with effect from April 5, according to a press release. This is in continuation of the BSE's policy to gradually shift all indices to the free-float ... More

    STOCK MARKETS
    Valuation hopes inspire interest in ICICI Bank
    THE ICICI Bank stock on Monday perked up on the prospect of a new valuation opportunity provided by its equity issue, which opens from April 2. Today's huge volume driven demand saw the stock cross the upper limit of the issue price band and ... More

    Sun Pharma gains on re-rating talk
    TALK of a re-rating being on the cards has seen the stock of Sun Pharmaceuticals gaining strength on the bourses. While, Sun Pharma's decision to hike its stake in Caraco Pharma to 63 per cent is said to have been the turning point, ... More

    Coke benefit
    A MUMBAI-based institutional broker is strongly recommending the stock of Gujarat NRE Coke to its clients. According to the broker, the company will be a beneficiary of the rising met coke prices. The international spot price of met coke ... More

    M&M to raise $100 m
    MAHINDRA & Mahindra Ltd (M&M) has informed the BSE that its board has approved the raising of additional long-term resources up to $ 100 million. This will be through the issue of foreign currency convertible bonds and / or other appropriate More

    DERIVATIVES MARKETS
    Tata Motors: Outlook positive; buy April 460 calls
    The following strategies are based on Monday's trading in the spot and the derivatives segments on the NSE. Tata Motors: The stock closed at Rs 473 in the spot market. The outlook appears positive. The upside price target is Rs 498. ... More

    COMMENTARY
    Appreciating rupee deflates techs — Bank, power stocks in limelight
    THE stock markets, which traded in a narrow range on Monday, ended the day in the positive territory, aided by heavy buying activity during the last hour of trading. The BSE Sensex, which soared by 114 points on Friday, ended higher again on ... More

    IPOS
    Data Access IPO likely in end-May
    The initial public offer (IPO) of Data Access India, which was to have opened on Monday, is now likely to be scheduled for end-May. This follows the clarifications sought by Securities and Exchange Board of India (SEBI) on Data Access' red ... More


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