MARKETS
MUTUAL FUNDS
Jaswant's promise on MF schemes' dividend tax waiver
THE Finance Minister, Mr Jaswant Singh, today promised to extend the exemption on dividend distribution tax payable by equity-oriented mutual funds schemes for yet another year beyond March 31, 2004. However, he added a caveat that would ...
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Tata Mutual monitoring agents' methods
Tata Mutual Fund's people pose as ordinary investors when they visit agents who are promoting and selling the fund's current public issue, the MIP Plus scheme. The aim is to find out if the agents make false promises about guaranteed returns on ...
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Sundaram MF plans `Leadership Fund'
SUNDARAM MF has worked out its first thematic scheme, one that will invest in companies that have emerged as `leaders' in their respective businesses. The proposed Sundaram India Leadership Fund will invest in equities, equity futures & options .
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Alliance Capital revamps MF plans
ALLIANCE Capital Mutual Fund, which has slipped from its once-premier position to hold only a little over Rs 2,000 crore at the end of December, has introduced critical modifications to some of its better-known schemes. For starters, ...
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STOCKS
Aurobindo Pharma allots warrants to promoters
FOLLOWING the consent of shareholders at the extraordinary general meeting in November last, the board of directors of Aurobindo Pharma Ltd (APL), the city-based pharmaceutical major, at the meeting held on Wednesday, has allotted convertible ...
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TECHNICAL ANALYSIS
Bulls charged up
BEARS were successful in maintaining their pressure during the morning session of the Wednesday's trading. Bulls forced themselves in the latter part of the day to wind up with a strong bullish note. Wednesday's market action had little effect on ...
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STOCK EXCHANGES
HSE awareness programme on ID number
FOLLOWING the advice of the capital market regulator, the Hyderabad Stock Exchanges (HSE) is holding a day-long awareness programme on `Unique Identification Number' at its Somajiguda office premises here on February 7. In a press release here ...
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STOCK MARKETS
Sensex gains 136 on FII buying, tax sops
EQUITIES bounced back on Wednesday regaining a part of the losses suffered over the last four trading sessions. The benchmark BSE Sensex ended the day with a gain of 136 points. Hectic buying by some FIIs in index heavy weights also aided to ...
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Banking support
SEVERAL public sector banks and UTI appear to have lent support to the stock market to stop the indices from falling too much. According to a dealer, many banks bought the index stocks basket, especially the Nifty, at lower levels on Tuesday as ...
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J&K Bank hits all-time high on stake sale talk
RUMOURS of J&K Bank being close to finalising a stake sale with a strategic partner saw the stock of the Srinagar-based private sector bank, hit an all-time high of Rs 487 on the BSE on Wednesday. The stock has appreciated by 341 per cent from a
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DERIVATIVES MARKETS
Tata Tea: Outlook negative, short February futures
THE following strategies are based on Wednesday's trading in the spot and the derivative segments on the NSE: Tata Tea: The stock closed at Rs 361 in the spot market. The outlook appears negative but the downtrend will be confirmed if ...
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COMMENTARY
Latter-day buying props up bourses
THE much-awaited return of buoyancy at the stock markets seemed to have arrived with the major indices bouncing back and staging a recovery during the latter half of trading on Wednesday. After a consecutive losing streak spread over the past ...
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SHAREHOLDER ACTIVISM
Amendments moved at L&T EGM defeated
THE five amendments moved by minority shareholders to the resolutions at the EGM of Larsen & Toubro were defeated by a majority late last night. The results of the ballot on two major resolutions — pertaining to the demerger of L&T's ..
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