Financial Daily from THE HINDU group of publications
Thursday, November 21, 2002
Markets (Nov. 20)
BL 2501053.28 (-3.27)
BSE Sensex3075.48 (+18.32)
S&P CNX Nifty1001.60 (+4.75)
Dollar (Buy/Sell)48.18/48.31
Gold Std (10 gm)5235 (+5)

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Reliance gains top slot in HSBC India fund
RELIANCE Industries has taken the top slot in the India-dedicated fund managed by HSBC. In end-October, Reliance had occupied the third spot. The fund has relegated MphasiS BFL to the No 3 position, while Satyam Computer stays untouched in the ... More

SBI Life parking monies in index, mutual funds
SBI Life has begun investing in index funds and some mutual funds in a bid to keep the average return on investments high and simultaneously restrict investment risks. Speaking to Business Line, Mr R. Krishnamurthy, Managing Director ... More

Templeton to launch India international fund
TEMPLETON Mutual Fund today announced that it would launch a new open-ended scheme — Franklin India International Fund (FINTF) — that will provide investors an opportunity to invest in foreign securities. "The FINTF will invest in ... More

Deutsche Bank set to begin MF operations
DEUTSCHE Bank is set to flag off its asset management operations through three funds that are pending approval from the securities regulator. Among these is Deutsche Alpha Equity Fund, a growth scheme to be benchmarked against the 50-share ... More


Restricted movement
BULLS were in control of the initial hours of Wednesday's trading. However, bears managed to recoup most of the their losses during the wee hours of the day's trading. The market sentiment reading of the tradable counters continues to favour the ... More


Corporatisation of SEs may need changes in Act
More than the suggestion of legislative changes, the issue which is yet to be fully resolved is that of allowing stockbrokers to be represented on the governing board of the demutualised exchange. More

Stand-off with SEBI drags on — Brokers take turnover fee issue to Ministry
THE Securities Industry Association of India (SISAI), the apex body of the broking community in the country, has finally moved the Union Ministry of Finance on the issue of turnover fee. Brokers all over the country have been unable to sort out ... More

Nasdaq keen on tie-up with Indian bourses
NASDAQ, which has decided to close down its exchange in Japan, is looking at other Asian markets, including India, for trading tie-ups in the future. "We are keen to have tie-ups with Indian stock exchanges. Having a set-up in India is our ... More


Scorpio success buoys M&M
THE stock of Mahindra and Mahindra, utility vehicle and tractor major, shot up by almost 7 per cent on value buying today on the Bombay Stock Exchange. The stock ended the day at Rs 100.65 on the BSE with 13.31 lakh shares being traded. On the ... More

Berger shadow over Snowcem
THERE seems to be no light at the end of the tunnel for Snowcem India. The company's share price has been on a downtrend ever since the announcement of Berger Paints' interest in acquiring Snowcem. The issue appeared to have taken a new twist ... More


Reliance: Limited upside, buy December 260 puts
THE following are some buy/sell strategies based on Wednesday's trading in the derivatives segment at the NSE: Equity options: Reliance Industries: The outlook on the stock appears positive, but the upside is limited. The ... More


Promoter sells shares of Godrej Consumer to FII
GODREJ & Boyce Manufacturing Co Ltd has sold 3.15 per cent stake in Godrej Consumer Products Ltd (GCPL) in the open market, the company said in a statement today. The company, which is the promoter of GCPL, sold 18,23,703 shares but did not ... More


SEBI to look into Grasim delay
THE SEBI Chairman, Mr G.N. Bajpai, today said the capital market regulator will look into the delay by Grasim's merchant banker to inform Larsen & Toubro's shareholders about SEBI's advise to put the open offer on hold. Speaking to newspersons ... More

Tribunal ruling made SEBI stall Grasim open offer
IT is the Securities Appellate Tribunal order in the Gujarat Ambuja-ACC Ltd case that has prompted the Securities and Exchange Board of India to make a pre-emptive move putting on hold Grasim's open offer for 20 per cent stake in L&T, a SEBI ... More


Tech stocks power Sensex to higher levels
SPEARHEADED by a firm trend in technology stocks, the stock market ended on a firm note on Wednesday. The BSE Sensex registered a gain of 18.32 points, extending the four-day gain to 3.89 per cent or about 115 points. Both the Sensex and the ... More


Allahabad Bank board to finalise share allotment
THE board of directors of Allahabad Bank will meet at Hyderabad on November 23 to finalise the allotment of shares following the recent public issue. It might be noted that the issue was oversubscribed by three times. A spokesman for the bank ... More
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