Financial Daily from THE HINDU group of publications
Thursday, June 16, 2005
Markets (July 25)
BL 2502325.28 (+12.27)
BSE Sensex7505.60(+82.35)
S&P CNX Nifty2291.75 (+26.15)
US Dollar (Buy/Sell)43.51/43.63
Gold Std (10 gm)6085 (+35)

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MARKETS

MUTUAL FUNDS


SEBI tells MFs to calculate portfolio limit on daily basis
THE SEBI has stipulated that the average net assets of a scheme managed by a mutual fund will be calculated daily and any breach of the 25 per cent holding limit by an investor will have to be determined. At the end of a quarter, the average of ... More

MFs adopt unfriendly practices: SEBI chief
SEBI today criticised the mutual fund industry for adopting investor unfriendly practices such as offering rebates and incentives to distributors to sell the schemes and resorting to undue churning of portfolio. The market regulator asked the ... More

JM Mutual launches new scheme
JM MUTUAL Fund today announced the launch of its new scheme, `JM Emerging Leaders Fund', to seek long-term capital appreciation from investment in a portfolio of stocks across the market capitalisation range. The scheme is open for public ... More

STOCKS


Srei Infrastructure builds on current market mood
THE Srei Infrastructure Finance stock has started trending upwards, thanks to investors who are flocking to it in the hope of leveraging the market's current penchant for select infrastructure-related counters. The stock today reached a new ... More

Grant Thornton in talks with mid-cap cos for overseas listing
INTERNATIONAL accounting and advisory firm Grant Thornton is in talks with several mid-cap Indian companies to help them list on international stock exchanges in countries such as the US, Singapore, the UK and Canada. Speaking at a press ... More

TECHNICAL ANALYSIS


Bull domination
BULLS were in control of Wednesday's trading activity. Their dominance for the second successive trading day left the bears stranded. The sentiment reading of the tradable counters stands strongly bullish. Bear domination on Thursday is likely ... More

STOCK MARKETS


Positive on rubber chem biz
Dalal Street has begun revaluing the Nocil stock after the Bombay High Court gave its seal of approval to the demerger plan on June 8 for its petrochemicals and plastic product divisions. The rubber chemicals business of the company will be ... More

DERIVATIVES MARKETS


Small reversal likely in Bharti Tele, Dr Reddy's
THE following strategies are based on Wednesday's trading in the derivatives segment on the NSE. These strategies are constructed to take advantage of small reversal in futures prices. The positions may run counter to the primary trend. ... More

FOREIGN INSTITUTIONAL INVESTORS


i-flex board okays issue of warrants to GE Capital
THE board of i-flex Solutions Ltd has approved the issue of warrants or options up to 0.5 per cent of the share capital to General Electric Capital Corporation. These warrants and options are convertible at a future date into equal number of ... More

REGULATORY BODIES & RULINGS


India Inc wants Clause 49 deadline extended
SEVENTY per cent of the country's top Chief Executive Officers and Managing Directors want the Securities and Exchange Board of India to extend the Clause 49 deadline by at least six months as it is difficult to put in place independent directors ... More

COMMENTARY


Buying interest props Sensex past 6900 level
BULLISH sentiment continued to prevail in the markets with the Sensex closing above 6900 points during the day's trading. The Sensex settled for the day at 6906.98 points, 46.80 points (or 0.68 per cent) higher. In the 30-share Sensex, 23 ... More

IPOS


Yes Bank IPO subscribed 8.27 times
MUMBAI: The initial public offering (IPO) of Yes Bank was subscribed 8.27 times on the first day, according to the NSE Web site. Cumulative bids were received for a total of 57.86 crore shares against the issue size of seven crore ... More

MSP Steel plans to raise Rs 16 cr thru public issue
MSP Steel and Power Ltd is entering the capital market to raise Rs 16 crore through a public issue of 1.6 crore equity shares of Rs 10 each at par. The proceeds of the issue would be used to fund its integrated steel plant in Chhattisgarh. The ... More


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