MARKETS
PREFERENTIAL ALLOTMENTS
Infotech to allot shares to overseas arms
INFOTECH Enterprises Ltd is set to seek its shareholders nod for the allotment of shares to two of its overseas companies, including Vargis LLC that was acquired earlier this year. The company's annual general meeting (AGM) slated later this ...
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MUTUAL FUNDS
SEBI nod for Fidelity's MF business
FIDELITY, one of the world's largest providers of financial services, has received the in-principle approval from the Securities and Exchange Board of India to set up its mutual fund business in India. The date of launch has been recast ...
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10 IL&FS MF schemes transferred to UTI MF
UTI Mutual Fund on Monday announced that 10 schemes of IL&FS Mutual Fund with assets under management (AUM) of over Rs 1,800 crore have been transferred to UTI Mutual Fund with effect from July 5. This is consequent to UTI MF's acquisition ...
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More MFs coming out with floating rate funds
THE mutual funds market will soon be awash with floating rate products, if plans being worked out by fund houses are implemented. Nearly a dozen MFs, including some of the smaller names in the industry, have in recent weeks proposed to launch ...
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TECHNICAL ANALYSIS
Bear domination
THE sentiment reading of the tradable counters remains bullish. Bear domination on Tuesday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish sentiment is likely to be further strengthened. More
STOCK MARKETS
Pvt bank stocks down on RBI draft guidelines
THE stocks of most of the private sector banks closed lower on Monday after RBI draft guidelines on ownership of these banks were issued last week. Brokers said these guidelines were unexpected and looks unrealistic. "If these guidelines are ...
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Nestle India scrip stays under pressure
THE stock of Nestle India Ltd has been under pressure for some time now, on the back of a growing perception that the stock trades at the higher end of the FMCG valuation spectrum. The stock, which was trading at around Rs 655 levels on the ...
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Hero Honda rides on bonus hopes
RUMOURS of a bonus saw the counter of Hero Honda Motors witness sustained buying support on the bourses. Dealers said one could expect a run up in the stock price before the announcement of its Q1 numbers. The company is generally among the ...
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`Sensex may touch 7,000-mark in six months'
MOTILAL Oswal Securities hopes to be at the forefront of the intermediation business, offering services that meet the diverse requirements of its clients. It, however, lays special emphasis on research, which, feels Mr Raamdeo Agarwal, ...
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DERIVATIVES MARKETS
Tata Motors: Outlook negative, sell July futures
THE following strategies are based on Monday's trading in the spot and the derivatives segments on the NSE: Tata Motors: The stock closed at Rs 378 in the spot market. The outlook appears negative. The stock could find support at Rs 362. ...
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COMMENTARY
Stocks take a beating over Budget fears
THE stock market seems to have been already hit by Budget blues. Clubbed with the uncertainty associated with the policy direction that the Budget may take, some of the indicators given by the new Government regarding taxation and regulations for ...
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IPOS
CPI (M) opposes NTPC divestment plan; says no problem with IPO
THE Government's plan to disinvest 5.25 per cent of its holding in National Thermal Power Corporation (NTPC) along with the proposed Initial Public Offering (IPO) of a similar percentage of shares is set to run into rough weather with the move ...
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Sundaram Leadership Fund's IPO raises Rs 83 cr
SUNDARAM Mutual on Monday announced that the initial public offering of its equity-oriented scheme, Sundaram India Leadership Fund, had raised Rs 82.83 crore. The Leadership Fund's public offer, which was open between May 31and June 18, will ...
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