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Saturday, March 12, 2005

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PREFERENTIAL ALLOTMENTS


CG Igarshi to allot shares, warrants to Aeneas Evolution on pref basis
THE Chennai-based CG Igarshi Motors Ltd has announced that the company would issue 8.55 lakh equity shares on preferential basis to Aeneas Evolution Portfolio Ltd, a global equity investment fund, for a price of Rs 180 a share. Aeneas will also ... More

MUTUAL FUNDS


Retailers propose real estate mutual fund
INDIA may soon have a new genre of mutual funds, if the efforts uncorked by the Retailers Association of India (RAI) succeed. Instead of the equity market, the proposed fund would be investing in real estate development for the retail ... More

ICICI Bank hikes stake in Prudential MF
ICICI Bank Ltd is hiking its stake in Prudential ICICI Mutual Fund to 51 per cent to become the majority shareholder of the asset management company. The bank has informed the stock exchange that it has agreed in-principle to purchase an ... More

Mutual funds vying to boost IPO collections
PER-application amounts, mobilisation targets, passouts - terms such as these are quickly fortifying their positions in the lexicon of even ordinary investors, thanks to the enormous efforts that are being put in by distributors of mutual ... More

TECHNICAL ANALYSIS


Bears prevail
BEARS gained control of Friday's trading activity but had no impact on the tradable counters. The sentiment reading of the tradable counters remains bullish. Bear pressure on Monday is likely to change the sentiment reading in their favour. ... More

STOCK MARKETS


Sunil Mittal sells personal stock in Bharti Tele
THE Chairman and Group Managing Director of Bharti Televentures, Mr Sunil Mittal, has sold his entire personal stock, accounting for about 0.15 per cent stake in the company, for a consideration of over Rs 60 crore. Mr Mittal sold 3,13,005 shares ... More

PSU insurers liquidate equity investments
Insurers have opted for this route of bolstering their capital since the Government was not prepared to provide additional equity support to the companies. More

Firm crude price may dim paint stocks
PAINT stocks are firm, but unlike other beneficiaries of boom in real estate, housing, automotive sectors, these do not seem that colourful. Leader of the pack Asian Paints, which made its 52-week high, today finished a shade below. The Berger ... More

Divi's CMD acquires 7 lakh shares
HYDERABAD: THE Chairman and Managing Director of the Hyderabad-based Divi's Laboratories Ltd, Mr Murali K. Divi, has informed the stock exchanges that he has acquired 7-lakh shares of the company from another person in the promoter group. ... More

Real estate value weaves around
Dealers said the interest in the stock is due to two factors - good business prospects of the company for its fabrication business and assets in terms of real estate across the country including in metro cities of Mumbai and Delhi. Though ... More

DERIVATIVES MARKETS


Near-term outlook positive for M&M, Infosys
THE following strategies are based on Friday's trading in the derivatives segment on the NSE: M&M: The March futures contract closed at 537. The outlook appears positive. Buy the near-month contract. The upside target is 560. Initiate ... More

FOREIGN INSTITUTIONAL INVESTORS


SEBI clarification on FII investments in Govt debt
THE Securities and Exchange Board of India has clarified that foreign institutional investors' investments in the Government debt alone should be within the sub ceiling of $1.55 billion. The FII investments in corporate debt should be within ... More

COMMENTARY


Mid-caps make gains; heavyweights turn bearish
UP one day, down the next. The 7000 mark appears to be eluding the bulls, with the Sensex falling 53 points on Friday, closing below the 6900 mark, at 6853.73 points. The S & P CNX Nifty declined by about 13 points, to close at 2154 points. ... More
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