MARKETS
OPEN OFFERS
Sanofi announces open offer for Aventis
THE France-based drug company Sanofi-Synthelabo is making an open offer for up to 20 per cent of Aventis Pharma Ltd India at Rs 792.2 per share, DSP Merrill Lynch, the manager to the offer told BSE on Wednesday. This follows Sanofi's recent ...
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MUTUAL FUNDS
Mutual funds and misclassifications
WHEN ING Vysya Asset Management Company filed an offer document for a WTO Theme Fund, the intention was to have a fund that would primarily focus on pharmaceuticals and textiles. The scheme's moniker was to draw attention to the fact that these ...
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Andhra Bank to vend SBI Mutual products
HARDENING of interest rates coupled with shrinking of traditional streams of business revenue for the banking industry have led Andhra Bank to shift its focus towards deriving more income from fee-based activities, the Chairman and Managing ...
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STOCKS
BSE moves 51 scrips to trade-to-trade segment
THE Bombay Stock Exchange has moved 51 scrips to the trade-to-trade segment, according to a circular from the stock exchange. This is being done from August 16 to ensure market safety and safeguard the interest of the investors. The scrips ...
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TECHNICAL ANALYSIS
Bear domination
BEARS were successful in terminating most of the uptrend counters in the tradable list. However, the sentiment reading of the tradable counters remains neutral. Bear pressure on Thursday is likely to change the sentiment reading to bearish. On ...
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STOCK MARKETS
Sensex down 77 over inflation, oil worries
THE markets finally reacted to the high inflation and oil prices, with the benchmark Sensex falling 1.5 per cent on Wednesday. Commodity stocks were the worst hit. A hike in Fed rate also affected market sentiment. According to brokers, ...
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Patni Computers gains on funds buying
INSTITUTIONAL investors are buying Patni Computers shares over the last few days. Dealers said the interest in the counter is on the back of good financial performance by the company in June quarter. Talk is that several institutional ...
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FDC in the limelight
FDC Ltd stock on Wednesday spurted as the countdown for dividend stripping began. Block deals also boosted the trading volumes. FDC today informed the BSE that its books would remain closed from September 2 to 11 for the purpose of AGM and ...
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DERIVATIVES MARKETS
Tata Motors: Outlook negative, sell August futures
THE following strategies are based on Wednesday's trading in the spot and derivatives segment on the NSE: Tata Motors: The stock closed at Rs 422 in the spot market. The outlook appears negative. The downside price target is Rs 408. If ...
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REGULATORY BODIES & RULINGS
Samir Arora case — Definition of insider is too wide: SAT
THE definition of insider is too wide for interpretation and anybody can be termed an insider in hindsight, observed Mr Justice Kumar Rajaratnam, Presiding Officer of the Securities Appellate Tribunal, while hearing the appeal of Mr Samir Arora ...
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COMMENTARY
Pharma, mid-cap stocks shine
AFTER moving in a relatively narrow range, the key indices made a decisive move on Wednesday. The S&P CNX Nifty as well as the BSE Sensex registered a sharp decline at the end of the day's trading. Both the indices recorded their highest drop in
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