The Hindu Business Line : Thursday, February 24, 2005

UB to woo LIC, UTI to participate in open offer
THE UB Group has said it would approach financial institutions such as Life Insurance Corporation of India (LIC) and UTI to make them participate in an open offer made by its group companies to the minority shareholders of Shaw Wallace and Co Ltd ... More

MUTUAL FUNDS

Fidelity plans maiden equity fund in India
FIDELITY has sought the Securities and Exchange Board of India's permission to launch its maiden fund in India. The proposed Fidelity Equity Fund will have a diversified portfolio, aimed at generating long-term appreciation of capital. It will ... More

STOCKS

Avon Organics allots warrants
AVON Organics Ltd (AOL), the city-based pharmaceutical company, has informed the stock exchanges that its allotment committee at its meeting on Friday approved and allotted 15-lakh warrants convertible into 15-lakh equity shares to the promoters. ... More

Fidelity, others take 5% stake in D-link
FIDELITY International, FMR Corp and their subsidiaries have acquired shares in D-Link (India) Ltd amounting to 5.02 per cent stake in the latter. The combined holding of these investors in D-Link is now 15,07,700 equity shares. It is not ... More

TECHNICAL ANALYSIS

Range-bound movement
The market sentiment reading of the tradable counters stands bullish. Bear domination on Thursday has the potential to change the sentiment reading to bearish. Otherwise, the prevailing bullish sentiment is likely to be further strengthened. ... More

STOCK MARKETS

Hopes of ONGC pie keep exploration cos high
STOCK prices of smaller oil exploration companies have moved upward over the last one week on expectation that these companies may get contracts to develop offshore marginal fields, put on the block by Oil and Natural Gas Corporation ... More

Crompton Greaves ignites on overseas buy hopes
THE Crompton Greaves stock shot up on Wednesday with a significant spurt in volumes on expectation of an overseas acquisition by the company and news of capacity expansion. According to Mr Devarsh Vakil of Anagaram Stockbroking, the company is ... More

Growth hopes drive it up
THE counter of auto-ancillary company Amtek Auto was on the buy list of various investors on Wednesday. Dealers said the buying interest in the counter was due to a `buy' recommendation by a leading domestic broking firm. Dealers said the ... More

SABMiller unmoved
SABMiller, which acquired a 50-per cent stake and management control in Shaw Wallace Breweries Ltd, has said it was unperturbed by the possibility of an ownership change in the parent company, SWC. "In the event of change in control of SWC, ... More

REGULATORY BODIES & RULINGS

Damodaran calls on SAT presiding officer
THE newly appointed Chairman of the Securities and Exchange Board of India, Mr M. Damodaran, on Wednesday called on Mr Justice Kumar Rajaratnam, Presiding Officer of the Securities Appellate Tribunal (SAT). Mr Damodaran spent close to an hour ... More

COMMENTARY

Reliance, L&T forge ahead in dull market
IT was a day of lacklustre market activity. The sharp recovery witnessed on Tuesday turned out to be short-lived, with the key indices closing in negative territory on Wednesday. The BSE Sensex dropped 6.91 points to close at 6582.5. The S&P CNX More

IPOS

Jet Airways IPO subscribed 10 times
MUMBAI: The Jet Airways IPO has been oversubscribed 10 times as on Wednesday, according to figures released on the stock exchange Web site. The number of bids received exceeded 17.5 crore as against the issue size of 1.72 crore. The ... More

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