Fast track
HDFC: On solid ground
FINANCIAL intermediaries have not been among the sought-after stocks in the equity market for a long time. The disastrous experience investors had with investments in non-banking finance companies (NBFCs) in the mid-1990s and the subsequent loa n problem that plagued financial institutions have dampened interest in financial intermediary stocks over the last few years.

Impact
GRUH Finance: A stronger parent
THE acquisition of a 26 per cent stake by Housing Development Finance Corporation (HDFC) in its equity should augur well for GRUH Finance.

HDFC: Strengthening its share
THE various consolidation moves initiated by HDFC may be viewed favourably by the markets. The company has picked up a 100 per cent subsidiary in Hometrust Housing Finance at a price of Rs. 50.01 crores.

Essar Steel: A deal falls through
THE collapse of the deal between Marathon and Essar Power may act as a dampener on the prospects of Essar Steel. This may not help improve the perception about the group.

Stocks
Frontline infotech scrips rebound
AIDED by strong buying interest in select infotech and consumer goods scrips towards the end of the day's trading, the BSE Sensex appreciated by 61.89 points on Wednesday to close at 4748.80 points.

Equities recover
THE Calcutta Stock Exchange saw many of the heavyweight shares recover on Wednesday.

Technical Analysis
Nifty turns bullish
The Nifty turned bullish on Wednesday's trading. However, the trend of the Sensex remained neutral. The trends of the top 20 tradable scrips continued to be mixed or neutral.

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