The Hindu Business Line : Tuesday, July 05, 2005

Sterling Holiday to issue 37.4 lakh shares to promoters
STERLING Holiday Resorts (India) Ltd plans to issue 37.4 lakh shares of Rs 10 each at Rs 43 to promoters and private investors on a private placement basis. The company has informed the BSE that it plans to issue 68,40,000 warrants of Rs 10 ... More

FINANCIAL SERVICES

Motilal Oswal plans hedging scheme for PMS investors
BROKING house Motilal Oswal Securities (MOSt) plans to offer a new portfolio management scheme aimed at clients who wish to tap hedging opportunities. Value Hedging, as the scheme is likely to be christened, will complement MOSt's current ... More

Zen Securities opens new branch in Hyderabad
HYDERABAD: Zen Securities Ltd, the city-based NSE and BSE member, has announced the opening of its new branch at Tarnaka here, taking the total network to 78 across 35 locations in Andhra Pradesh, according to a press release. ... More

Geojit sets up company to fund futures trading
GEOJIT Financial Services Ltd has set up a new company called Geojit Credits Ltd with a capital base of Rs 20 crore. The company will focus on the credit requirements of participants in the commodity futures markets and credit will be extended ... More

INVESTMENTS

Gold ETFs belie initial expectations
TO what extent can gold exchange traded funds (ETFs) impact gold prices? At the time of launch, it was believed that they would have a positive effect on gold; but current evidence does not bear out the initial promise. Gold held-in-trust in ... More

MUTUAL FUNDS

Sahara launches Wealth Plus Fund
SAHARA Mutual Fund launched the Sahara Wealth Plus Fund today. The new fund offer remains open till July 22. The fund is based on a variable fee structure, according to a company press release. The fund is an open-ended growth scheme with the ... More

STOCKS

Reliance Ind acquires 1.36 cr shares of REL
RELIANCE Industries (RIL) has acquired 1.36 crore equity shares of Reliance Energy Ltd (REL) from Reliance Industrial Investments and Holdings, a wholly owned subsidiary of Reliance Industries Ltd. This is an "Inter se transfer of ... More

Pidilite share split
MUMBAI: Pidilite Industries Ltd has informed the BSE that the company's board of directors, at its meeting on July 02,, approved the sub-division of the existing equity share of nominal value of Rs 10 each into 10 equity shares of Re 1 ... More

TECHNICAL ANALYSIS

Bull onslaught
BULLS were in total command of Monday's trading activity. The sentiment reading of the tradable counters stands strongly bullish with no downtrend counters. Bear domination on Tuesday is likely to reduce the bull count by a considerable margin ... More

STOCK MARKETS

FII buying pushes Sensex to all-time high of 7,277
CONTINUED buying by foreign institutional investors took the benchmark indices to yet another record high on Monday. The Sensex gained 66.54 points to close at an all-time high of 7,277.31. The Nifty added 18.75 points and ended trade at ... More

Media, entertainment stocks hog limelight — Rakesh Jhunjhunwala picks 2.9 % in TV Today
MEDIA and entertainment stocks appear to be topping the list of investor buying as the buoyant stock market seems to take note of fundamentally strong sectors. This trend was seen today when most of the media companies' stocks gained at the ... More

Time to smile
Stock traders in a happy mood after the Sensex hit an all-time high at the Bombay Stock Exchange on Monday.

Matsushita gains on Japan buying?
THE Matsushita Lakhanpal Battery stock on Monday was charged up on market talk that fresh Japanese investment in the company was on the anvil. Though an official response to this issue was not available, the market sources expected the ... More

DERIVATIVES MARKETS

Small reversal likely in Tata Power, Dr Reddy's
THE following strategies are based on Monday's trading in the derivatives segment on the NSE. These strategies are constructed to take advantage of small reversal in futures prices. The positions may run counter to the primary trend. ... More

ASSET MANAGEMENT COMPANIES

Chola MF to tap DBS expertise in asset management
CHOLAMANDALAM Mutual Fund is gearing itself to tap the experience gathered by DBS Bank, the new ally of the Murugappa group, in asset management. For starters, it is set to develop a re-branding strategy, based on the `Chola DBS' label. Chola ... More

REGULATORY BODIES & RULINGS

SEBI suspends fresh registrations for UINs
The Securities and Exchange Board of India has suspended all fresh registrations for Unique Identification Numbers (UINs) from July 1. This is following a SEBI committee's recommendation seeking to move away from the biometric system for ... More

COMMENTARY

Cement stocks gain on back of June sales
THE markets continued their northward march and landed on a new orbit on Monday. The Sensex has surged by 3.4 per cent in the last five trading sessions. Uninterrupted buying by FIIs, expectations of better June quarter results and impressive ... More

IPOS

Shri Ramrupai Balaji Steels IPO on Friday
SHRI Ramrupai Balaji Steels Ltd, part of Rs 500-crore Kolkata based Jai Balaji Group, is entering the capital market on July 8 with an IPO of 2 crore shares of Rs 10 each through a 100 per cent book building route to part-finance its Rs 285-crore ... More

IL&FS Investsmart IPO subscribed 7.94 times
THE initial public offering of financial services company IL&FS Investsmart was subscribed 7.94 times on the first day of opening with most of the bids coming at the upper price band of Rs 125. The price band for the issue is Rs ... More

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