Financial Daily from THE HINDU group of publications
Friday, December 05, 2003
Markets (Dec. 4)
BL 2501852.98 (+12.39)
BSE Sensex5225.90 (+4.00)
S&P CNX Nifty1675.20 (+4.70)
US Dollar (Buy/Sell)45.58/45.71
Gold Std (10 gm)6040

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HSBC open offer for UTI Bank stake on Jan 31
HSBC on Thursday announced that its open offer to the shareholders of UTI Bank to buy 20 per cent equity as required under SEBI regulations will commence on January 31. The offer will be at Rs 90 per share, the same price at which HSBC has ... More

BankMuscat, Sabre, Keppel sign pact for Centurion Bank
THE Oman-based BankMuscat, Rana Talwar-headed, Sabre Capital Worldwide Inc, and Keppel Corporation of Singapore on Thursday signed the shareholder agreement of Centurion Bank. The final approval for the scheme of recapitalisation of the ... More


NSDL reduces transaction charges
WITH rising stock prices and increased volume on stock exchanges, National Securities Depository Ltd (NSDL) has decided to reduce the transaction charges by 20 per cent from Rs 10 to Rs 8 per transaction. These changes will come into effect ... More


Bulls march ahead
BEARS exerted pressure during the initial hours of Thursday's trading activity. Thereafter, bulls took over and wiped out their early losses. Bears managed to gain marginally from the day's trading. The market sentiment reading of the tradable ... More


BSE to create T group
THE Bombay Stock Exchange has decided to shift stocks in trade-to-trade category to a new separate group `T.' These stocks would be shifted to this new group from December 8, a BSE statement said on Thursday. With this new group, BSE will have ... More


Markets factor in BJP show; stay flat
THE stunning performance of the Bharatiya Janata Party at the polls to the State Assemblies of Madhya Pradesh, Rajasthan and Chhattisgarh has given the stock market a leg-up as many investors believe the party will do everything to keep the ... More

FII interest in Gujarat Ambuja
According to a market source, a prominent US-based institutional investor has placed purchase orders for about 10 million shares of the cement maker. The source said the FII started accumulating the stock when it was quoting around Rs 275. The ... More

Lyka Labs vaults on value buying
THE stock of healthcare company Lyka Labs Ltd has been rapidly gaining ground on the bourses on sustained buying support. Apart from hitting the upper circuit repeatedly in the last few trading sessions, the stock has appreciated by around 81 ... More

20 lakh Global Trust shares change hands in single trade
CLOSE on the heels of HSBC Bank picking up Commonwealth Development Corporation's (CDC) holding in UTI Bank, over 20 lakh shares of Global Trust Bank (GTB) changed hands on Bombay Stock Exchange (BSE) in a single block deal on ... More

Tea stocks gain from rise in prices, fall in inventory
AFTER a long time, tea companies' shares shot to limelight due to rise in tea prices and drop in inventory in the last two weeks. Analysts said tea prices have firmed up by 15-20 per cent (year-on-year basis) over the past two weeks and the ... More


SBI: Outlook positive, buy Dec futures
THE following strategies are based on Thursday's trading in the spot and the derivatives segments on the NSE: SBI: The outlook on this stock appears positive. The upside price target is Rs 514. Consider buying the January futures on the ... More


SEBI supersedes CSE committee
THE Securities Exchange Board of India this evening superseded the governing committee of the Calcutta Stock Exchange. The market regulator, under section 11 of the Securities Contract (Regulation) Act, superseded the exchange governing committee ... More


Bulls take a breather; PSU banks feel the heat
UNLIKE the past three days, where the benchmark indices had smart gains, Thursday's trading was lukewarm. Click here for table Though the indices closed in the positive territory for the fourth consecutive day, the ... More


SIB plans rights issue
SOUTH Indian Bank plans a rights issue at the ratio of 1:3 before the end of next March. The issuewould be priced between Rs 38 and Rs 45, Mr A. Sethumadhavan, bank's Chairman, told Business Line. "The intention is not only just to ... More
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