Financial Daily
from THE HINDU group of publications

Saturday, November 10, 2001





Ear to the ground
L&T castles on open offer hopes
For the second day in a row, the L&T scrip was locked in the upper 10-per cent filter on Friday.

Albright & Wilson: Open offer boost
THE stock price of Albright & Wilson is likely to surge ahead because of the SEBI order requiring the promoters of the company to come out with an open offer.

Ranbaxy Labs: Of little consequence
RANBAXY'S time over-run in launching the generic isotretinoin in the US may not significantly affect the stock.

On the hedge
In-the-money calls still in demand
Friday's trading in the derivatives segment saw good demand for in-the-money calls. The following are some of the pointers from the day's trading:

Increased activity on Dalal Street
The Dalal Street Sensitive Index indicator closed firmer for the day at 3079.67 points from 3059.97 points, up from yesterday's close by 19.70 points or 0.64 percent.

SEBI ban on Anand Rathi
THE Securities & Exchange Board of India (SEBI) on Friday restrained the former BSE President, Mr Anand Rathi, from occupying any position of director/trustee of any capital market related institution for a period of two years from March 12, 2001.

Futures trading takes off
FUTURES trading in individual stocks started on both the NSE and BSE on Friday. On the NSE, the total number of futures contracts on individual stocks traded was 4,503 with a value of Rs 89.15 crore. Turnover value in the individual stock futures was 23. 21 per cent of the total value of Rs 384 crore in the derivatives market.

Technical Analysis
Sideways trend intact
Friday's trading witnessed narrow movement in the index. This left the sideways trend in the index intact. Bulls managed to gain from the day's trading. Nifty moved within a close band of 10 points. It closed for the week with a gain of 8 points over Thursday's close. The sentiment reading of tradable counters continues to remain neutral.

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