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Friday, September 24, 2004

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MARKETS

TECHNICAL ANALYSIS
Bears prevail
THURSDAY'S market action resulted in terminating the uptrend in few tradable counters. Bears managed to gain from the day's trading. However, the sentiment reading of the tradable counters stands bullish. Further bear pressure on Friday is ... More

STOCK MARKETS
Li-Taka Pharma jumps on export orders
THE stock price of Li-Taka Pharmaceuticals has almost doubled in the last one week on the back of bagging various export orders. Stock is also on the rise due to orders for supplying drugs for projects funded by World Bank in India. According ... More

Indiabulls listing today
Shares of Indiabulls Financial Services Ltd will list on the BSE and the NSE tomorrow. Indiabulls IPO closed on September 10 after an overwhelming response from all categories of investors. The book was subscribed by around 18.5 times, with ... More

Hope on earnings growth drives up Shanthi Gears
PERCEPTION of a strong earnings growth has been driving market interest in the stock of the Coimbatore-based company Shanthi Gears Ltd. The stock, which has been witnessing good volumes, has appreciated by 14.28 per cent from around Rs 21 on ... More

Gains on various factors
ORIENT Paper & Industries has been gathering strength on the bourses in the recent past amid huge volumes. Brokers said there were various factors driving interest in the stock. The hiving of the closed paper plant for Rs 100 crore that would . More

DERIVATIVES MARKETS
Outlook negative for Reliance, HCL Tech
THE following strategies are based on Thursday's trading in the spot and the derivatives segment on the NSE: Reliance Industries: The stock closed at Rs 500 in the spot market. The outlook appears negative. The downside price target is ... More

ASSET MANAGEMENT COMPANIES
Platinum Assets ups Ramco Systems stake
RAMCO Systems on Thursday said that Platinum Asset Management Ltd (as trustee for the Platinum Asset Management Trust) has acquired 83,413 shares (or 0.72 per cent of Ramco's paid-up capital) through market purchase on September 21 this year. ... More

REGULATORY BODIES & RULINGS
SEBI publishes draft rules for transaction tax collection
THE Securities and Exchange Board of India (SEBI) has published the draft rules for the collection of the securities transaction tax (STT). According to the draft rules, value of the taxable securities would be computed on the volume weighted ... More

COMMENTARY
Mid-cap pharma stocks gain in weak market
DRIVEN by the selling pressure in key index heavyweights, the benchmark BSE Sensex closed the day on a negative note. The index was down 77.39 points (1.38 per cent). The 30-stock index opened on a weak note at 5598.14 points, about 19 points ... More

IPOS
MSK Projects plans IPO at Rs 40 a share
CONSTRUCTION company MSK Projects (India) is coming out with a public issue of 60 lakh shares of Rs 10 each at a premium of Rs 30 per share to fund is two build-operate-transfer (BOT) projects. The issue will open on September 27 and close on ... More


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Looking back
Sep. 12-Sep. 18
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