Financial Daily from THE HINDU group of publications
Thursday, December 22, 2005
Markets (December 21)
BSE Sensex9339.17 (-7.07)
S&P CNX Nifty2822.90 (-3.30)
US Dollar (Buy/Sell)45.18/45.31


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MARKETS

MUTUAL FUNDS


20% income distribution by CanEmerging Equities
CANBANK Mutual Fund has declared an income distribution of 20 per cent for its CanEmerging Equities Scheme, an open-ended equity scheme which has a face value of Rs 10. This is the maiden dividend declared by the scheme since its launch in ... More

STOCKS


Flextronics increases its stake in Indian subsidiary to 94.3%
FLEXTRONICS, a Singapore-based multinational, has acquired more than six per cent stake in its Indian subsidiary - Flextronics Software Systems (FSS) - from the open market. Flextronics Sales and Marketing bought 21.75 lakh shares, ... More

Triveni Engineering up on growth hopes
TRIVENI Engineering & Industries Ltd, a steam turbine and sugar player, has been moving up strongly even after its recent fresh public offering. The Re-1 stock today closed at Rs 73.95 against the previous close of Rs 73.25; the stock touched . More

Mercator Lines board okays bonus issue
MERCATOR Lines Ltd said its board has approved issue of bonus shares in the ratio of three shares for every two held. The company has also announced plans to raise up to $75 million via an issue of securities in the local or overseas market. ... More

TECHNICAL ANALYSIS


Volatile movement
WEDNESDAY'S market activity witnessed volatile movement. However, the sentiment reading of the tradable counters changed to bearish. Bull domination on Thursday is likely to change the sentiment reading in their favour. On the contrary, the ... More

STOCK EXCHANGES


Interconnected SE opens branch in Hyderabad
INTERCONNECTED Stock Exchange of India Ltd, formed by 14 regional stock exchanges, has opened its fifth branch here today and plans to commission three more by the end of this financial year. The other three branches would come up at Ahmedabad, ... More

STOCK MARKETS


Ferro Alloys bets on mining wealth
FERRO Alloys Corporation buzzed with activity on Wednesday as punting continued on the possibility of the company encashing on its initial find of platinum at its captive chromite mine at Bhadrak in Orissa. The stock moved up to Rs 15.45 with ... More

REGULATORY BODIES & RULINGS


Justice Sodhi takes over as SAT chief
MR Justice Nauvdip Kumar Sodhi took over as the Presiding Officer of the Securities Appellate Tribunal (SAT) on Wednesday. Mr Justice Sodhi replaced Mr Kumar Rajaratnam, who had resigned as SAT officer in July but was asked by the Government ... More

SEBI unlikely to extend revised Clause 49 deadline
WITH less than a fortnight to go before the deadline for listed companies to comply with the revised Clause 49 of the Listing Agreement expires, the capital market regulator is in no mood to extend the deadline or dilute any of the provisions of ... More

INTERVIEW


Japanese cautious about `quality of company': Nomura
INDIA head-investment banking at Nomura International, Mr Vikas Sharma, says that while Japanese investors are interested in Indian companies, they are very cautious about the quality of the company they invest in. He adds that they are looking ... More

COMMENTARY


Stocks search for direction on lacklustre day
It was a kind of day that stocks have not witnessed for several weeks now, as they have marched to new highs. On Wednesday, equities appeared to, however, have run out of steam, as they ended the day on a flat note. It was, however, a ... More

IPOS


Royal Classic plans IPO
ROYAL Classic Group, the Rs 250-crore Tirupur-based textile company and owners of the Classic Polo brand, plans an initial public offer by 2007. Mr R. Sivaram, Executive Director, Royal Classic Group, said the IPO is to fund the company's plans ... More
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Dec. 11-Dec. 17
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