The Hindu Business Line : Wednesday, January 18, 2006

Morgan Stanley bags award for Reliance, ICICI Bank deals
THE mega $4.8-billion Reliance Industries restructuring by JM Morgan Stanley has won the FinanceAsia's best India deal for 2005. ICICI Bank's $1.75-billion concurrent American Depository Receipt and domestic share sale deal, also by JM Morgan ... More

MUTUAL FUNDS

Investor sentiment turns negative in long-term debt funds
INVESTORS have again relegated long-term debt funds to the backwaters, ending a brief interlude witnessed during the October-November period. For funds in this category, sentiments have turned negative yet again, a trend marked by outflows in ... More

Chola MF launches contra fund
CHOLA Mutual Fund, promoted by Cholamandalam Investment & Finance Co Ltd, on Tuesday launched its open-ended `Chola Contra Fund', which will invest in stocks of companies that have been overlooked by the market. The company will adopt ... More

STOCKS

Hectic trading in Reliance scrip; special trading session today
ON the last day of trading prior to its de-merger, the Reliance Industries (RIL) counter witnessed hectic activity, sending the stock up by more than 6 per cent. The RIL stock on Tuesday closed at Rs 928.15 on the BSE, up Rs 55.05 (6.31 per ... More

Dabur ex-bonus shares listing from tomorrow
DABUR India Ltd said today that it would start trading ex-bonus shares from January 19 as against the fixed record date of January 20. The stock exchange has decided to trade the ex-bonus shares a day earlier with a view to protect the ... More

Maharashtra Scooters weak on valuation worries
THE Maharashtra Scooters stock has been moving downhill for the last two days on the apprehension that the arbitration proceedings to fix a valuation of the stock for purchase of one of the promoter's stake by the other could be much lower than ... More

TECHNICAL ANALYSIS

Bear domination
BEAR DOMINATED over Tuesday's trading activity. The sentiment reading of the tradable counters remains bearish. Bull domination on Wednesday is likely to change the sentiment reading in their favour. On the contrary, the bearish sentiment is ... More

STOCK MARKETS

HDFC Securities sees Sensex growing 15%
HDFC Securities has forecast the BSE Sensex to deliver a 15 per cent return in 2006 to touch 11,000 points. Making a presentation here on Monday on the `Outlook for 2006', Mr Sunil Shah, Managing Director, HDFC Securities, said the company was ... More

Polaris Software: Stake sale buzz sticks
THE buzz on stake sale in Polaris Software Laboratories stuck steadfast amid fluctuation and saved it from a sharp decline on Tuesday. Though the stock finished lower than Monday's closing price by Rs 2 on some profit-taking, dealers said ... More

HUMAN RESOURCES

UTI MF dangles market-level pay, perks to motivate staff
THE country's largest mutual fund, UTI Mutual Fund could soon set fresh pace for the industry. In an attempt to invigorate its staff, the board of directors of UTI MF has cleared a proposal to devise fresh market-related pay packages and a major ... More

FOREIGN INSTITUTIONAL INVESTORS

Govt notifies FII investment in news channels
THE Government has notified permitting investment by foreign institutional investors (FIIs) in news and current affairs channels within the 26 per cent overall foreign direct investment (FDI) cap. However, the portfolio investment in the form ... More

COMMENTARY

Stocks suffer decline for 6th consecutive day
SENTIMENT continued to remain negative on the bourses with stocks suffering losses for the sixth straight day. Sensex remained barely unchanged despite a 6 per cent gain in the stock of Reliance Industries as only 4 out of the Sensex stocks ... More

IPOS

Govt to divest 5 pc equity in PFC — Co to issue fresh shares equivalent to 10 pc its equity
THE Government will be disinvesting five per cent of its equity in Power Finance Corporation to the public. PFC will also issue fresh shares equivalent to 10 per cent of its equity base to the public simultaneously. "The Cabinet has cleared ... More

Malu Paper likely to tap market for Rs 20 crore
MPML has two operational units at Nagpur with kraft paper and newsprint manufacturing capacities of 8,250 tonnes and 19,800 tonnes per annum, respectively. The company is a joint venture of first generation entrepreneurs and all the promoters belong to the Malu family. More

ECONOMIC OFFENCES

Calcutta HC dismisses Dinesh Dalmia's petition
MR JUSTICE PRATAP Kumar Ray of the Calcutta High Court on Tuesday dismissed a writ petition filed by Mr Dinesh Dalmia, an alleged prime accused in the Rs 120-crore Calcutta Stock Exchange scam of 2001. In the writ petition, Mr Dalmia sought an ... More

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