The Hindu Business Line : Wednesday, December 12, 2007

ANNOUNCEMENTS
Corporate developments
Coimbatore, Dec 11 Gitanjali Gems Ltd has priced its $180 million GDR offering (including an over-allotment option of up to $30 million) at $9.67 per GDR. Each GDR represents one equity share of nominal value of Rs 10. The issue was ... More

PREFERENTIAL ALLOTMENTS
BOC India jumps on pref issue to Linde AG
To offer at Rs 165 a share to promoters More

NEW FUND OFFER
Infra funds flooding market
Mop-up in 2007 seen at Rs 20,000 cr against Rs 2,500 cr in 2006 More

STOCKS
Orient-Express turns down Indian Hotels proposal, again
‘Not a strategic fit with our focus on luxury segment’ More

Gremach Infra issues $50-m FCCBs
Mumbai, Dec. 11 Gremach Infrastructure Equipments and Projects Ltd has placed an offering of $50-million one per cent foreign currency convertible bonds (FCCBs). The bonds have a tenor of five years and one day and are convertible into ... More

Hopes of Govt incentives lift textile stocks
‘There is a lot of value buying happening’ More

Bank of Rajasthan FII limit hike
Coimbatore, Dec 11 Bank of Rajasthan Ltd’s board of directors has approved increasing the FII investment limit in the bank’s equity up to 49 per cent and by NRIs up to 24 per cent, both taken together 49 per cent of the total ... More

IMPACT
Pfizer’s patent win may be positive for Indian arm
Maraviroc launch could get tangled due to opposition More

TECHNICAL ANALYSIS
Bull domination
Bulls dominated over Tuesday’s trading activity. The sentiment reading of the tradable counters changed to bullish. Bear move on Wednesday is likely to change the sentiment reading in their favour. On the contrary, the current sentiment ... More

STOCK MARKETS
Sensex surges to 20,290
Mumbai, Dec. 11 The Indian markets were among the best performing in Asia today, with both the Sensex and Nifty posting all-time highs. The BSE Sensex was up 360.21 points to touch 20333.06 before ending the day at 20290.89. The Nifty ... More

Nifty replacements see divergent trend
The stocks of MTNL and HPCL shot up on Tuesday even as Cairn Energy and Idea Cellular, which are replacing them in Nifty from December 12, declined. According to market men, the NSE had announced these changes on October 30. Institutional ... More

Lanco Infratech in the limelight
R-pack back to centre stage More

MERGERS & ACQUISITIONS
StanChart gets RBI nod for stake buy in UTI Sec
Mumbai, Dec 11 Standard Chartered Bank Mauritius has received the Reserve Bank of India’s approval to acquire 49 per cent stake in broking firm, UTI Securities Ltd, from Securities Trading Corporation of India. Mr P.R. ... More

REGULATORY BODIES & RULINGS
No obligation on Akzo Nobel for ICI India open offer: SEBI
The SEBI has ruled that Akzo Nobel need not come out with a mandatory open offer of 20 per cent to the public shareholders of ICI India after the Netherland located MNC completes acquisition of Imperial Chemical Industries Plc (ICI) of the UK, ... More

EVENTS
‘Invest long-term, pick and choose products’
Wyenad Dec. 11 “Invest long-term and pick and choose your stocks and shares with exceptional care,” advised Mr S. Jayachandran, Manager, ICICI Securities Ltd, Kozhikode, at the BL Club programme organised at Wyenad yesterday. ... More

RECOMMENDATION
Today's Pick: Dish TV India (Rs 91.50)
We recommend a buy in Dish TV India at current market price. It is clearly evident from the charts of Dish TV that it was on a long-term downtrend from its life high of Rs 142 (touched in June 2007). However, the stock found support in November ... More

Day Trading Guide
The stock moved up in line with our expectation in the last trading session. Short-term outlook for the stock is bullish and we maintain our buy recommendation.Infosys In the last session, the stock failed to move above ... More

IPOS
Precision Pipes and Profiles plans IPO to fund expansion
Price band fixed at Rs 140-150 More

MCX IPO plan sees signs of revival
Kolkata, Dec. 11 Decisions on the ownership structure and foreign direct investment (FDI) in commodity exchanges may revive the proposal for IPO of Multi Commodity Exchange (MCX). The exchange — promoted by Financial Technologies (India) ... More

OUTLOOK
Fed rate cut already factored in
May induce overseas funds to move into India More