Financial Daily from THE HINDU group of publications
Thursday, September 29, 2005
Markets (Sept 28)
BL 2502441.60 (+29.49)
BSE Sensex8606.03 (+80.51)
S&P CNX Nifty2598.05 (+23.20)
US Dollar (Buy/Sell)44.02/44.15
Gold Std (10 gm)6650 (-15)


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INSIGHT


Is the stock market boom a sideshow?
AS THE euphoria on Dalal Street seems to know no bounds, a fundamental question is whether the booming stock market is doing any good to the economy, particularly corporate private investment. A security market fosters economic growth by ... More

MUTUAL FUNDS


Assets under management of MFs rise 26 pc
ASSETS under management of the mutual fund industry have recorded a nearly 26 per cent growth on a year-on-year basis as on August 31 to touch Rs 1,95,000 crore, the Chairman of the Association of Mutual Funds in India (AMFI), Mr A.P. Kurian, ... More

ING Vysya Mutual unveils retail fund
ING Vysya MF has lined up a fund to invest mainly in stocks of companies that draw at least 70 per cent of their revenues from Indian consumers. Christened ING Vysya Retail Fund, the scheme will try to generate long-term capital appreciation by ... More

TMB to distribute UTI MF products
MADURAI: The Tuticorin-based Tamilnad Mercantile Bank (TMB) has entered into a memorandum of understanding with UTI Asset Management Company for the distribution of the entire range of UTI Mutual Fund products, as part of its strategy to ... More

STOCKS


Kotak Mahindra to issue 1.5 cr shares
KOTAK Mahindra Bank Ltd on Wednesday announced a fresh issue of 1.5 crore equity shares either in the domestic or international market. In a notice to the stock exchanges, the bank said that this constitutes around five per cent of the current ... More

TECHNICAL ANALYSIS


Bull onslaught
BULLS were in total command of Wednesday's trading activity. Their dominance for the third successive trading day left the bears stranded. The sentiment reading of the tradable counters remains strongly bullish. Bear domination on Thursday is ... More

STOCK MARKETS


Sensex crosses 8,600 on short covering
Despite the rise in the main indices, the market breadth has remained negative for more than a week now. More

Talbros gets pinched in arbitrage
TALBROS Automotive Components has been on the slide over the last few days. The stock is down 20 per cent since last week. On Wednesday, the stock was down 3.38 per cent at Rs 111.35 on the BSE with volumes of 11.27 lakh shares. Dealers said ... More

FOREIGN INSTITUTIONAL INVESTORS


RBI disallows further FII buying in Bharti Tele, ICICI Bank
RBI has notified that foreign institutional investors, non-resident Indians or persons of Indian origin can make no further purchase of equity shares of Bharti Tele-Ventures Ltd and ICICI Bank Ltd under the portfolio investment scheme. ... More

COMMENTARY


Banking, power sectors propel markets
WEDNESDAY saw the Sensitivity Index sail past the 8,600-mark. Strong buying interest towards the close of trade aided the Sensex to close at a record of 8,606 — up 80.5 points or 0.9 per cent. Even as frontline IT stocks ruled weak, ... More

IPOS


Suzlon IPO subscribed by over 28 times
MUMBAI: Suzlon IPO has received bids of more than 28 times of the issue size. The IPO received bids for 82.76-crore shares compared to the issue size of 2.93 crore. The retail portion of the issue has also been fully subscribed ... More

PUBLIC OFFER


Andhra Bank to offer 8.5 crore shares to public
THE board of directors of Andhra Bank at its meeting on Wednesday decided the equity size of its second public issue at Rs 85 crore (face value). The board has approved a resolution to increase the paid-up capital to Rs 485 crore from the ... More

ECONOMIC OFFENCES


Mukta Arts moves HC against CLB order
MUKTA Arts Ltd has approached the Bombay High Court against the Company Law Board (CLB) order, which allows the Government to further investigate into the affairs of the company regarding irregularities and violations of the Companies Act. In ... More

INVESTOR PROTECTION


Steer clear of penny stocks, says Geojit
"IN a bull run, it is the inexperienced investors who get trapped first and penny stocks are usually the first casualty of wild market fluctuations. These are shares of companies with no standing — financial or otherwise — and begin ... More
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