Financial Daily from THE HINDU group of publications
Wednesday, August 31, 2005
Markets (August 30)
BL 2502351.32 (+2.27)
BSE Sensex7745 (+110.57)
S&P CNX Nifty2367.75 (+30.10)
US Dollar (Buy/Sell)43.99/44.42
Gold Std (10 gm)6280 (-25)

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Prajay Engineers plans to raise $75 m
PRAJAY Engineers Syndicate Ltd plans to go in for an issue of FCCB/ADR/GDR to raise $75 million. Shareholders gave their nod through a special resolution at the company's 11th annual general meeting, held on August 25. The company informed the ... More


MFs welcome 5% reservation in IPO
THE mutual fund industry is viewing the recent decision by the Securities and Exchange Board of India to reserve five per cent of initial public offerings to mutual funds as a move that will enhance retail investor participation. "We welcome ... More


Himatsingka board to consider bonus issue, share split
BANGALORE: Silk fabric manufacturer and exporter Himatsingka Seide Ltd has said its board of directors is meeting on September 7 to consider stock split and or bonus issue. The board will also consider raising funds through options such ... More

Premji to reduce holding in Wipro at `appropriate stage'
IT major Wipro Ltd's Chairman, Mr Azim Premji, today said he would reduce his existing holding of over 82 per cent in the company at an "appropriate stage", but did not specify a timeframe. "There is an intent to reduce the holding from over 82 ... More


Bull domination
TUESDAY'S market action witnessed bulls in total command. The day's market action resulted in turning the sentiment reading to mildly bullish. Bear move on Wednesday has the potential to change the sentiment reading in their favour. On the ... More


Sensex rises 110 points as global markets recover
RECOVERY in global equity markets helped Indian shares to rebound in today's trading with the Sensex gaining more than 100 points. However, the rupee breached the 44-mark against the US dollar on worries of rising oil prices. Stocks opened ... More

Vanavil betting on swap ratios
VANAVIL Dyes & Chemicals, a Clariant group company, is making sharp moves forward on expectation of a favourable swap ratio in the proposed merger of the group entities. Ahead of an official valuation report, the market has begun betting on ... More

Expansion plans fuel rally in Ginni Filaments
SHARES of Ginni Filaments Ltd (GFL), a textile company, are on an upward move due to the commencement of the commercial production of the knit fabric by the knitting and processing unit. Analysts said the new unit is likely to add to the sales ... More


Goldman ups stake in Suven
HYDERABAD: Suven Life Sciences Ltd has informed the National Stock Exchange that Goldman Sachs Investments (Mauritius) Ltd (GSIML) has acquired 5,47,822 equity shares aggregating to 2.19 per cent of the paid up capital of the company ... More


Firm global markets, FIIs boost sentiment
BROAD-based buying, firm global markets and continued FII inflows helped the markets reverse the trend witnessed on Monday as they ended the day with strong gains. While the benchmark Sensex gained 1.5 per cent, the broader Nifty was up by 1.3 ... More


Shree Renuka Sugars plans IPO to fund Rs 128-cr expansion
SHREE Renuka Sugars Ltd is planning to make a public issue of equity shares at a premium aggregating Rs 100 crore with a green shoe option aggregating Rs 10 crore through a 100 per cent book building process. The IPO will meet part of the ... More


Metropolis Health may go for private equity funding
METROPOLIS Health Services (India) Pvt Ltd is contemplating private equity funding of Rs 20-25 crore to strengthen its equity base, for better controls and support its expansion programme. Disclosing this to Business Line, its Managing ... More


United Western Bank announces 1:5 bonus
THE Satara-based United Western Bank has declared bonus share issue in the ratio of 1:5 and rights issue in the ratio of 1:2. The board of directors approved the bonus and rights issues on August 26, a press release from the bank said. In the ... More

Simbhaoli Sugar rights issue opens on Sept 9
THE Simbhaoli Sugar Mills Ltd is coming out with a rights issue. The issue opens on September 9 and closes on October 8. Mr Sanjay Tapriya, Director (Finance), said that 87,84,622 equity shares of Rs 10 each would be offered for cash at a ... More

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