The Hindu Business Line : Tuesday, July 08, 2008

STOCK EXCHANGES: FIIs shifting to SGX Nifty
Highest monthly volumes in June. The market melt-down in the June has witnessed traders going into an over-drive to make money on short positions. However, it is not the domestic traders alone who are keen to benefit from the declining prices, ...

STOCKS: Consolidation hopes buoy airline stocks
SpiceJet, Deccan Aviation jump over 20%. Bangalore, July 7 The stocks of three domestic airlines rose substantially on Monday giving indications of a possible consolidation in the ...

STOCK MARKETS: MFs focusing on global markets fare better in June
DSP Merrill World Gold Fund — the top performer. Mumbai, July 7 Investing in global markets seem to have helped withstand the extremely bearish local market conditions for some funds enabling them to give better returns than other sector ...

RECOMMENDATION: Day Trading Guide
In the last trading session, the stock lost its intra-day gains, experiencing selling pressure. Fresh short-position can be initiated only if the stock declines below Rs 589, with tight stop. ...

STOCK MARKETS: ITC, Godfrey Phillips in limelight
Two cigarettes stocks, which have substantial foreign direct investments, on Monday moved up. Market sources said the Japan Tobacco International’s proposal to raise its stake in its unlisted Indian outfit would be taken up by the Foreign ...

TODAY'S PICK (Latest Audio: English/Tamil)

RECOMMENDATION: Sterlite Industries (Rs 630.85): Sell
We recommend a sell in Sterlite Industries India from a short-term perspective. It is evident from the charts of Sterlite Industries India that it has been on a long-term downtrend from its all-time high of Rs 1,140 (recorded in early December ...

ANNOUNCEMENTS: Corporate developments
Coimbatore, July 7 Century Extrusions Ltd has announced the commencement of manufacture and supply of hardware for power transmission and distribution lines with effect from July 7, at its existing factory at ...

IPOS: UTI Asset Management puts off IPO plans
July 21 is the deadline for completion of IPO process. Mumbai, July 7 UTI Asset Management Company has decided to put off its proposed initial public offer, which was expected to hit the market this month. ...

REGULATORY BODIES & RULINGS: SEBI to look into conflict of interest between AMCs, trustees
Mumbai, July 7 The conflict of interest between sponsors of mutual funds, its trustees and the asset management company (AMC) may come under the scanner of market regulator Securities and Exchange Board of India (SEBI). ...

ASSET MANAGEMENT COMPANIES: Pioneer gets nod for MF foray with BoB
Mumbai, July 7 Pioneer Global Asset Management SpA has got a no-objection certificate from SEBI to commence mutual fund business. This joint venture of Pioneer Investments and Bank of Baroda, wherein Pioneer Investments holds 51 per cent stake ...

ASSET MANAGEMENT COMPANIES: ICICI Prudential AMC branch

DERIVATIVES MARKETS: Tata Steel sheds over 4 lakh shares in open interest
ICICI Bank, RNRL too witness steep decline in open position. Chennai, July 7 Turnover remained moderate at Rs 44,634 crore in the F&O segment on Monday. However, discount widened sharply to 49.5 points, suggesting creation of fresh short ...