The Hindu Business Line : Tuesday, April 01, 2003

Grasim revised open offer for L&T unaltered
GRASIM Industries' open offer price for Larsen & Toubro in its revised draft offer document submitted to SEBI, remains unaltered from its earlier open offer — at Rs 190 per share — which was stalled in November 2002. Sources at ... More

TECHNICAL ANALYSIS

Bear onslaught
BEARS were in total command of Monday's trading activity. Their dominance left the bulls with no opportunity to recover. The market sentiment reading of the tradable counters stands strongly bearish with no uptrend counters. Bull domination on ... More

STOCK EXCHANGES

SEs moving to T+2 rolling settlement from today
THE equity market, moving to T+2 rolling settlement from tomorrow, will put India among the select securities markets of the world. This will also bring the domestic market on par with the emerging markets such as South Korea and Taiwan. ... More

STOCK MARKETS

Hindustan Lever hits 10-year low
THE share prices of Hindustan Lever Ltd (HLL) today touched a 10-year-low of Rs 145.90 on the Bombay Stock Exchange (BSE). In the process of decline, the stock also touched a 52-week low. Brokers said foreign institutional investors had been ... More

Foreign fund fancies Padmalaya Tele
PADMALAYA Telefilms Ltd witnessed significant buying interest on the bourses on Monday. According to dealers, most of the buying came in the afternoon session, including a big block deal. A large foreign mutual fund was rumoured to have picked up ... More

Price hike fails to cheer paper
DESPITE domestic paper and board manufacturers announcing the first price hike of the calendar year, the response amongst paper majors was tepid to say the least. The price of Rs 1,000 per tonne average is said to be in line with rising raw ... More

DERIVATIVES MARKETS

Infosys: Outlook positive, buy April 4300 calls
THE following strategies are based on Monday's trading in the derivatives segment on the NSE: Equity options Infosys: The outlook on the stock is positive. The upside price target is Rs 4,350. The risk is that the current bout ... More

ASSET MANAGEMENT COMPANIES

India Development Fund: `For returns with infrastructure investment' — Mr Luis Miranda, CEO, IDFC Asset Management Co
THE infrastructure equity fund was announced in the 2002-03 Budget and is taking shape now with a part of the Rs 1,000-crore corpus raised. The Infrastructure Development Finance Company Ltd (IDFC), which has been given the mandate of raising ... More

COMMENTARY

War drives investors to pharma scrips
THE markets seem to be groping for direction on fears that the war in Iraq might go on for a longer period than expected. Though the Indian stock markets withstood the war attacks initially, investors now appear to be getting jittery as the war ... More

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