MARKETS
FINANCIAL SERVICES
NRIs urge SMILE to provide trading platform
NON-resident Indians (NRIs) have urged the Securities Markets Infrastructure Leveraging Expert Task Force (SMILE) to provide a trading platform to enable participation in the secondary market and also called for a host ...
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Karvy to be HLL's registrar, transfer agent
HINDUSTAN Lever Ltd (HLL) said on Monday that Karvy Computershare Pvt Ltd will take over as the company's registrar and transfer agent from July 16. Till January 2005, HLL's Investor Services Department will handle work related to the bonus ...
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MUTUAL FUNDS
UTI-I to foreclose two monthly income plans
THE Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I) has announced the foreclosure of two monthly income plans - MIP 99 (II) and MIP 2000. The decision will be effective from August 1. The "changed economic ...
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Canbank MF wins race to acquire GIC MF
CANBANK Mutual Fund has beaten SBI Mutual Fund and LIC Mutual Fund to bag the asset management company promoted by General Insurance Co. The strategic buyout will add over Rs 100 crore, spread over five schemes to Canbank mutual fund's asset ...
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BoB Mutual plans to convert ELSS into Diversified Fund
BANK of Baroda Mutual Fund plans to convert BOB ELSS'95, a close-ended scheme due for redemption on April 1, 2005, into BOB Diversified Fund. The offer document for BOB Diversified Fund has been filed with the Securities and Exchange Board of ...
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Birla MF files offer document for new bond fund
BIRLA Sun Life Asset Management Company has filed with the Securities and Exchange Board of India (SEBI) its offer document for the Birla Dynamic Bond Fund. This open-ended income fund offers retail, institutional and institutional premium ...
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STOCKS
Instanex Skindia replaces L&T GDR
THE Instanex Skindia DR Index has replaced the old Larsen & Toubro GDR - one GDR equivalent to two shares of face value Rs 10 each - with the new L&T GDR, with one GDR equivalent to one share of face value Rs 2, following the demerger o
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TAXATION
Chidambaram open for transaction tax review
THE Finance Minister, Mr P. Chidambaram, today vociferously defended the Budget proposal to levy a 0.15 per cent tax on all securities transacted on stock exchanges, while maintaining that a review, if at all, would be only on the extent of tax ...
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Transaction tax impasse shrinks trading volumes
THE trading volumes in the equity market shrunk sharply as traders refrained from trading in protest against the transaction tax. The volumes may shrink further as a section of traders have decided stop trading on Tuesday, said a stock market ...
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TECHNICAL ANALYSIS
Lacklustre movement
THE sentiment reading of the tradable counters stands neutral. Bull domination on Tuesday is likely to change the sentiment reading in their favour. On the contrary, the sentiment reading is likely to turn bearish. More
STOCK MARKETS
Hoping on good show
IT major Infosys Technologies is expected to surprise the market with its first quarter financial results on Tuesday. If the market talk is to be believed, the company is expected to report net profits of Rs 380 crore to Rs 384 crore for the ...
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Textile stocks on upswing
TEXTILE stocks have been a firm feature in recent times, but today major counters in the sector such as Arvind Mills closed at new 52- week high. The stocks of spinning mills and synthetic garment manufacturers also finished higher with ...
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DERIVATIVES MARKETS
HPCL: Outlook negative, sell July futures
THE following strategies are based on Monday's trading in the spot and the derivatives segments on the NSE: HPCL: The stock closed at Rs 288 in the spot market. The outlook appears negative. The downside price target is Rs 269. Sell ...
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FOREIGN INSTITUTIONAL INVESTORS
FIIs need RBI nod to buy ICICI Bank shares
THE Reserve Bank of India has notified that no further purchases of equity shares of ICICI Bank Ltd should be made on behalf of foreign institutional investors through stock exchanges in India without the prior permission of the apex bank. ...
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COMMENTARY
Heavyweights turn weak on directionless day
A SORT of lull appeared to have settled over the markets on Monday. The Sensex, which gained more than 100 points on Friday, ended the trading session on a flat note. It closed at 4944.54 marginally lower than the previous close. The S&P CNX ...
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