Fast track
Corporation Bank surges ahead
ORDINARY investors seem to be casualty as the bears are continuing their domination of the market, a process which began in March 2000.
Impact
Corporation Bank: Favourable pricing
The pricing for the preferential allotment of equity may lend some support to the Corporation Bank stock. The bank is to allot 24 million shares at Rs 196 per share to the Life Insurance Corporation. LIC would now have a stake of close to 27 per cent in
the bank's equity of Rs 144 crore.
Grasim: An acceptable charge
The proposal of Grasim Industries to take a one-time knock on its earnings may not give an adverse influence on the valuation of the stock. The company is to incur a one time retrenchment cost at its Mavoor Unit to the extent of Rs 60 crore. The Mavoor u
nit has been a millstone around the company's neck and its closure has been imminent for some time now.
Stocks
Ranbaxy, media scrips share limelight
STOCKS continued to remain in negative territory on Monday as the grip of pessimism continued to remain strong. The expected solution to the US-64 crisis did not materialise on Monday even as the markets remained jittery over what may be in store for the
m in the earnings announcement of Infosys Technologies.
Tech scrips under selling pressure in Lyons Range
THE Calcutta Stock Exchange on Monday saw the counters of Zee Telefilms, Infosys, Tisco, Pentamedia Graphics, NIIT and Rolta decline on selling pressure. Among the top gainers were the scrips of HFCL, Digital Equipment, Tata Engineering, Ranbaxy and L&T.
Technical Analysis
Mild bear domination
MONDAY'S trading activity witnessed mild bear domination. The intra-day movement in the Nifty was around 12 points. It closed with a loss of around 5 points with respect to Friday's close. The prevailing downtrend in the index remained intact. The market
sentiment reading of the tradable counters remained bearish, thus extending the necessary support to the downtrend in the index.
