Financial Daily from THE HINDU group of publications
Friday, January 06, 2006
Markets (January 5)
BSE Sensex9617.74 (-30.34)
S&P CNX Nifty2899.85 (-4.55)
US Dollar (Buy/Sell)44.64/44.78


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IDBI Capital awaiting RBI nod for foray into commodities
IDBI Capital is looking to diversify into commodities to stabilise its revenue streams and de-risk its portfolio of businesses. For its foray into commodities, the company is awaiting the Reserve Bank of India's nod. "We have already made an ... More

NEW FUND OFFER


Outlook for India remains positive: Fidelity
Equity-linked savings scheme launched

GLOBAL fund house Fidelity is optimistic about the Indian equity markets, saying that its long-term outlook for India remains positive. "The Indian equity story certainly calls for attention on its own merits and does not, in my view, need a ... More

STOCKS


Market bullish on Concor
DESPITE the announcement of the policy to do away with Container Corporation of India's (Concor) monopoly in container traffic movement on the railway network, investors preferred to look the other way. The stock bucked the trend with market ... More

Tulip IT Services debut marred by trade error
TULIP IT Services, listed on Thursday, grabbed attention as some of its shares on the BSE were traded at a mere 25 paise. The stock made its debut at 50 per cent premium to the issue price of Rs 120. Market players said these trades could have ... More

Gujarat Apollo on road to steady growth
GUJARAT Apollo Equipment is moving on the growth avenue on increasing demand for road construction and maintenance machinery such as indirect heating equipment, asphalt batch mix and drum mix plants, sensor paver finishers, bitumen pressure ... More

TECHNICAL ANALYSIS


Volatile movement
THURSDAY'S market witnessed unbalanced movement but the sentiment reading of the tradable counters remains bullish. Bear control on Friday is likely to alter the outlook in their favour. On the contrary, the prevailing bullish sentiment is ... More

STOCK MARKETS


Andhra Bank gains ahead of public issue
SHARES of Andhra Bank were among the major gainers on Thursday. The stock rose 8.55 per cent to Rs 103.45 on BSE with volume of 19.71 lakh shares and on NSE it moved up 8.38 per cent to Rs 103.95 with volume of 88.47 lakh shares. Dealers said ... More

Thirumalai Chemicals to benefit from rival's woes
THE Thirumalai Chemicals Ltd (TCL) stock could benefit from the problems faced by its rival, IG Petrochemicals Ltd. Both companies make phthalic anhydride. The Appellate Committee Cell of Ministry of Commerce & Industry has banned IG ... More

FOREIGN INSTITUTIONAL INVESTORS


M&M Financial to sell shares to FII
MAHINDRA & Mahindra Financial Services Ltd has informed the BSE that Copa Cabana, a foreign institutional investor, is picking up 31.57 lakh shares at a price of Rs 190 per share aggregating Rs 60 crore. Copa Cabana is a 100-per cent ... More

COMMENTARY


Cautious sentiment rules market
THE markets appeared to have been on a correction mode on Thursday, following a spate of gains over the two previous trading sessions. Frontline and small-cap stocks were in for some minor correction, while the acceleration appeared to have ... More

IPOS


Global Trade Finance hopes to become a bank; IPO in the offing
EXIM Bank of India-promoted Global Trade Finance Pvt Ltd (GTF) hopes to convert into a bank, but not in the near future. "That is our ultimate objective," Mr Arvind Sonmale, Managing Director and Chief Executive Officer, told Business Line ... More

Gitanjali Gems fixes IPO price band at Rs 210-250
THE proposed initial public offering of Gitanjali Gems Ltd is to be priced in the band of Rs 210-250 per share. Gitanjali Gems Ltd, manufacturers and retailers of diamond and gold jewellery in India, is entering the capital market with an IPO ... More

Zenith to raise Rs 125 cr
MUMBAI: Zenith Birla India Ltd has informed the BSE that it is raising Rs 125 crore through a public issue. The company's board has approved the Draft Red Herring Prospectus to be filed with SEBI and BSE. The company said it would be ... More

PUBLIC OFFER


Andhra Bank public issue to open Jan 16
ANDHRA Bank will tap the capital market with a follow-on public issue of 8.5 crore equity shares of face value of Rs 10 each. Mr K. Ramakrishnan, Chairman and MD, Andhra Bank said the bank was raising capital to meet the Basell II norms as ... More
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