The Hindu Business Line : Tuesday, October 23, 2007

ANNOUNCEMENTS
Corporate developments
Coimbatore, Oct. 22 BPL Ltd has allotted equity shares of Rs 10 each on preferential basis to Electro Investment Private Ltd, a promoter group company, as under: 30 lakh equity shares of Rs 10 each at a premium of Rs 33.02 per share ... More

PRIVATE PLACEMENT
LIC Housing net rises on higher interest income
Mumbai, Oct. 22 Driven by higher interest income, LIC Housing Finance Ltd has reported a net profit of Rs 116.37 crore in the second quarter, a 53 per cent rise from the previous year’s Rs 75.93 crore.Net interest income was up ... More

FINANCIAL SERVICES
Motilal Oswal launches wealth management biz
Mumbai, Oct. 22 Motilal Oswal on Monday launched its wealth management business — Purple — to cater to the needs of the high networth individuals (HNIs) for expert handling of their finances. It will be floated as a wholly owned ... More

INVESTMENTS
Banks seek status quo on investment categorisation
‘Marking them to market again will result in losses’ More

NEW FUND OFFER
Lotus India launches AGILE fund
Lotus India Asset Management Company has announced an open-ended equity scheme called Lotus India AGILE fund, a quant-based mutual fund scheme.The fund, which is priced at Rs 10 per unit will open for subscription from October 25 and ... More

MUTUAL FUNDS
Sunteck gets Rs 140 cr from Kotak realty fund
Mumbai, Oct. 22 The Mumbai-based Sunteck Realty Group, on Monday said it would receive a significant investment of Rs 140 crore from Kotak Alternate Opportunities (India) Fund to part finance its expansion plans. Sunteck Realty said ... More

STOCKS
Man Aluminum resumes trading
Mumbai, Oct. 22 Man Aluminum Ltd, a demerged entity of Man Industries resumed its trading in the BSE and NSE on Monday. It opened on the NSE at a premium of 11.83 per cent against the issue price of Rs 38.45. It opened trading at Rs 43, ... More

Licence acquisition – Shot in arm for RCom
Bharti Airtel appears to be at least advantage More

Capex plans lift Prakash Ind
Prakash Industries on Monday hit the upper circuit again, with rising volumes on both the NSE and BSE, as accumulation continued on fundamental triggers for the steel-making outfit such as capacity expansion and obtaining of iron ore as also coal ... More

TECHNICAL ANALYSIS
Bears prevail
Bears prevailed over Monday’s trading activity. The sentiment reading of the tradable counters remains bearish. Bull move on Tuesday is likely to change the sentiment reading in their favour. On the contrary, the current sentiment ... More

DERIVATIVES MARKETS
Nifty future sees 36% rollovers
Discount widens for Nifty Nov future More

FOREIGN INSTITUTIONAL INVESTORS
Sub-accounts get 1 week to register as FIIs
PNs here to stay provided anonymity is lifted: Damodaran More

Sensex gains 54 points
‘Liquidity hit as FIIs withdraw’ More

Managing foreign fund inflows a challenge: Kamath
Managing the flow of foreign funds into India is a challenge for policy makers, because the flow is still strong despite the proposed ban on participatory notes, said Mr K.V. Kamath, Managing Director and CEO, ICICI Bank. Answering a ... More

Warburg Pincus to pick 11.2% in Havells India for $110 m
New Delhi, Oct. 22 Global private equity major Warburg Pincus will invest $110 million to pick up 11.2 per cent stake in electrical equipment company Havells India Ltd. Havells would utilise the funds to partly retire debt raised by the ... More

Post SEBI clarification: Unwinding by some likely
SEBI’s much-awaited dialogue with foreign institutional investors on Monday on the participatory notes issue has provided some clarity on how it proposes to manage the transition of PN-routed investments in Indian equities to direct and ... More

SEBI clarifications clear the air
Fine-print on Oct 25 could reveal more, say market observers More

INTERVIEW
Participatory note policy driven by a short-term view of market
In order to regulate and monitor investments in the Indian stock market made by such unregistered foreign investors through the PN route, SEBI has specified who can subscribe to/invest in such notes. The type of foreign investors permitted to do ... More

RECOMMENDATION
Today's Pick: Dena Bank (Rs 53.4)
We recommend a sell in Dena Bank at current levels. It is evident from the weekly chart of Dena Bank that it was consolidating between Rs 20 and Rs 40 since April 2004.The stock broke out of this range in May and rallied to mark a life-time ... More

Day Trading Guide
The stock found support around Rs 1,000 and bounced up with good volumes on Monday. A bullish engulfing candlestick pattern is observed, which has bullish implication for the near term. We recommend a buy. ... More

IPOS
Ashco Industries makes debut
Mumbai, Oct. 22 Ashco Industries Ltd, a company dealing with analytical instrumentation, on Monday made its debut on the NSE at a premium of 5 per cent against the issue price of Rs 40. It opened trading at Rs 40, and touched a high ... More

PERFORMANCE
Gold ETFs top performance charts
Kolkata, Oct. 22 Gold was indeed a noble metal for investors in the last few days, considering the startling returns that gold exchange traded funds raked in for the one-week period ended October 19.In a period marked by extreme ... More