Buybacks, the only solace now
IN an unprecedented plunge, the US Dow Jones industrial average, opening after four days of closure shed 685 points or 7 per cent to settle at 8,921 points, its lowest close since December 18, 1998.
Ballarpur: Consolidation positive, but...
THE Ballarpur Industries stock may trade in a sluggish manner despite the proposed consolidation of the paper business within the group. The acquisition and a merger of BILT Graphic Paper (the erstwhile Sinar Mas) may strengthen the position of the compa
ny in the paper industry. This approach may also ensure that benefits flow to shareholders of BILT than to a private company in the group.
Castrol: Tying up loose ends
THE proposed merger of Castrol India and Tata-BP Lubricants may not have any significant influence in the valuation of the stock. The plan is more or less on expected lines following the global level developments involving the BP Amoco.
Siemens: One-time cash flow
THE one time cash inflow for Siemens may not have a bearing on the stock price. The company would get a one time flow of Rs 13.14 crore from a sale of stake in an associate company.
Equities perk up on bargain-hunting
MUMBAI: STOCK prices on local bourses shrugged off the biggest single-day fall in distant Dow Jones industrial average and bounced back with a vengeance. Many blue-chips, which hit new 52-week lows on Monday, staged modest gains pushing the benchmark BSE
-30 share sensitive index (Sensex) up to an intra-day high of 2814, gaining 133 points from the previous close.
Tech stocks witness strong volumes
AFTER shedding 15.79 per cent or 502.65 points since the terrorist attack on the US, the stock market raised some hopes with a smart turnaround on Tuesday, mainly on support from the FIs. The market broadly ignored the overnight steep fall at Wall Street
which it already factored in since the US markets remained closed after the attack.
BEARS were unable to extend their pressure on Tuesday. Bulls made a comeback after a long span of time. The movement in the Nifty was around 42 points. It closed with a gain of 28 points with respect to Monday's close. The sentiment reading of the tradab
le counters remains bearish.