The Hindu Business Line : Wednesday, March 16, 2005

GSK Pharma board okays buyback at Rs 800 maximum
THE board of directors of GlaxoSmithKline Pharmaceuticals Ltd has approved the buyback of its equity shares from existing shareholders through the stock exchange route, at a price not exceeding Rs 800 per share. The buyback will be up to the ... More

FINANCIAL SERVICES

Capstocks opens new branch at Pattom
THIRUVANANTHAPURAM: Capstocks and Securities, leading brokers and Depository Participant, has opened its new branch at Pattom here. Mr V.K. Mathews, Chairman and Managing Director, IBS Software Services, inaugurated the branch. He said ... More

PENSION PLANS

Fringe benefit tax may hit group superannuation schemes
The question of why employers should bear the additional burden, especially when superannuation is not compulsory, is echoing throughout the insurance sector. More

INVESTMENTS

EPFO panel opposes investment in equities
THE Finance and Investment Committee of the Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation has taken a view against investment of EPFO funds in equities. The issue had come up before the committee as a fallout of ... More

MUTUAL FUNDS

Fidelity launches first MF scheme
FIDELITY Fund Management on Tuesday launched its first mutual fund scheme for the Indian market. The Fidelity Equity Fund is an open-ended equity growth scheme that will rely on the fund house's `bottom up' stock picking expertise. The ... More

TECHNICAL ANALYSIS

Bear domination
BEARS were in control of Tuesday's trading activity. The sentiment reading of the tradable counters stands mildly in favour of the bears. Bull domination on Wednesday is likely to change the sentiment reading to bullish. Otherwise, the prevailing ... More

SOFTWARE

Aussie company offers software for stock traders
WITH stock market in bullish mode, an Australian company has started its Indian operations to educate Indian investors how to trade in equity, commodities and forex market. Hubb Organisation, which sells its education material and technical ... More

STOCK MARKETS

Sensex down 57 on profit booking
AFTER blazing for weeks, bourses have taken a pause with the indices closing in the red for the third consecutive day on Tuesday. Market participants attribute the slump to profit booking by domestic investors. Rising crude prices and tepid ... More

Steelco Gujarat shines on turnaround hopes
WITH steel sector stocks in the limelight, a new stock within the category to have caught market attention is Steelco Gujarat. In the last one week, investors have been buying the stock, dealers said. The Steelco stock has gained more than 20 per ... More

Electrosteel Castings sees huge volumes
ELECTROSTEEL Castings stock on Tuesday saw huge traded volumes of over 10 lakh shares on the major bourses with around 20 per cent increase in price. According to company insiders, the unusual volumes could be attributed to buying by outsiders ... More

DERIVATIVES MARKETS

Outlook positive for HDFC Bank, Nifty
THE following strategies are based on Tuesday's trading in the derivatives segment on the NSE: HDFC Bank: The March futures contract closed at 593. The outlook may turn positive if futures trades above 598.20. In the event, it could move ... More

FOREIGN INSTITUTIONAL INVESTORS

`Indian stock markets attractive for foreign investors'
INDIAN stock markets are still attractive for foreign investors, according to Mr Alan Jacobs, Senior International Economist and Strategist, AMP Capital, Australia. In a presentation to journalists of The Hindu group, Mr Jacobs said ... More

INVESTOR GRIEVANCES

SEBI slaps fine of Rs 1 lakh on Prudential Capital
YEARS after it went under, Prudential Capital Markets, the stockbroker Vinod Baid-promoted investment company, has been slapped with a fine of Rs 10 lakh by SEBI. The regulator has in an order referred to a violation of section 15C of the SEBI ... More

COMMENTARY

Markets down for 3rd day amid profit booking
THE market of late appears to be on a profit-booking mode, as it has fallen for the third consecutive day. The sharp rally in the post-Budget sessions appears to have faded off. The undertone of the market was cautious, for every two stocks ... More

PUBLIC OFFER

IVRCL public issue from March 18
IVRCL Infrastructure and Projects Ltd is entering the capital market with a public issue of face value Rs 10 to raise Rs 126 crore, with a green shoe option of 18.9 crore. The issue opens on March 18 and closes on March 23. The number of shares ... More

INVESTOR PROTECTION

Move to hike funds for investor education
THE Government proposes to substantially hike the funds for investors' education and protection. This follows expansion of activities under the Investor Education & Protection Fund (IE&PF), maintained in the Consolidated Fund of India, a Mini More

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