The Hindu Business Line : Friday, October 18, 2002

Ondeo Nalco parent seeks exemption from open offer
SUEZ of France, the parent of Ondeo Nalco India Ltd (formerly Nalco India Ltd), has recently responded to a notice issued by the Securities and Exchange Board of India (SEBI) regarding an alleged violation of the SEBI (substantial acquisiton of ... More

L&T closes near open offer price
THE stock price of Larsen & Toubro (L&T) ended the day almost touching the open offer price of Rs 190 offered by Grasim Industries Ltd to the shareholder of the engineering and cement conglomerate. The L&T stock ended 3.67 per cent higher at ... More

MUTUAL FUNDS

UTI recast: Some JPC members irked at being kept in the dark
A SECTION of the Joint Parliamentary Committee (JPC) probing the securities scam of 2001 is unhappy that the Finance Ministry and the UTI management kept the panel in the dark regarding the on-going restructuring exercise of the UTI and the ... More

TECHNICAL ANALYSIS

Restricted movement
FOR the second successive trading day, prices of the tradable counters moved within a close band. Thursday's market action resulted in terminating a few uptrend counters in the tradable list. The sentiment reading of the tradable counters stands ... More

STOCK EXCHANGES

MSE moves to `Orbit'
THE Madras Stock Exchange (MSE) has replaced the Tandem Electronic Security Architecture (TESA) with new software - Orbit (Online Regional Bourse Interconnected). The new software, which runs on Widows platform, is not only cost effective but ... More

STOCK MARKETS

Merger talk saps MTNL
THE lingering concern over the possibility of the merger of Mahanagar Telephone Nigam Ltd (MTNL) with unlisted Bharat Sanchar Nigam Ltd (BSNL) has pushed the former's stock to a new low. Brokers and analysts said the merger would stall the ... More

Patent ruling in US drags Cipla down
PHARMA major Cipla Ltd has taken an enormous beating in the past week following the US Court decision on Omeprazole going in favour of the patent holder. Analysts perceive that in the absence of any fresh triggers, the stock is likely to dip ... More

Mukta Arts gains on new movie plans
MUKTA Arts is expected to announce the launch of a big budget movie shortly. The talk is that the company has planned a movie with a budget of around Rs 25 crore, to be completed fast. In addition, the release of `Ek aur Ek Gyara' ... More

Kaashyap Radiant to mull stock split
MUMBAI: Kaashyap Radiant Systems Ltd has informed the BSE that a meeting of its board of directors will be held on October 18, to consider splitting of equity shares of Rs 10 each paid-up into 10 equity shares of Re 1 each paid-up. ... More

DERIVATIVES MARKETS

Negative outlook on Satyam
The following are some buy/sell strategies based on Thursday's trading in the derivatives segment at the NSE: Equity options: Satyam: The outlook on the stock appears negative. A pointer in this direction is the sharp increase ... More

COMMENTARY

Market rebounds on tech stocks' rally
THE benchmark BSE Sensex rebounded and ended at a near three-week high on Thursday as technology stocks, led by software major Infosys Technologies, rallied and gained ground. On Thursday, the Sensex closed up 11.15 points (0.37 per cent) at ... More

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Stock scam probe — Former MD of SHCIL, IndusInd Bank V-P held