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Wednesday, July 16, 2008
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Markets (July 15)
BSE Sensex12676.19 (-654.32)
S&P CNX Nifty3861.10 (-178.60)
US Dollar43.21 (+0.20)


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FOREIGN INSTITUTIONAL INVESTORS: HCL Technologies, Geometric find FII buying
Foreign funds turn away from Reliance Capital, Jain Irrigation. Mumbai, July 15 Even though the foreign institutional investors’ remained net sellers in July so far, they have been picking select stocks during the turbulent times. FIIs ...

STOCK MARKETS: Global indices do a nosedive; bank scrips fall 7.75%
Mumbai, July 15 Stocks fell sharply on Tuesday driving the Sensex down to 12,676, a low not seen since April last year. ...

STOCKS: Banking stocks wilt on macro economic concerns
The sector comes under selling pressure in Asia, Europe also. Mumbai, July 15 Frontline banking stocks dipped significantly on Tuesday, as investors relentlessly sold due to macro economic concerns. All the 16 stocks in the banking index ...

STOCKS: Ranbaxy shares slump 23% in 2 days
Shareholders okay pref allotment to Daiichi Sankyo. Mumbai, July 15 Ranbaxy Laboratories shares slumped for the second consecutive day, down 14 per cent on Tuesday, amidst concerns of action from the United States Department of Justice (DoJ). ...

STOCKS: ‘Financial institutions must exit ITC’
New Delhi, July 15 Mr Amar Singh — whose Samajwadi Party is the key to the survival of the ruling Congress-led UPA Government — wants the Unit Trust of India (UTI) and other public financial institutions to divest their stake in ...

STOCKS: Buyback, open offer stocks sizzle amidst fizzle
Here’s what any investment Guru will advise a distraught investor in a bear market: “There are buys in every market.” ...

COURTS/LEGAL ISSUES: SC declines more time to Ketan Parekh to deposit bail money
New Delhi, July 15 The Supreme Court on Tuesday declined to grant further time to Mr Ketan Parekh, the prime accused in the 2001 Madhavpura Bank scam, for depositing Rs 26.43 crore, the instalment amount due on May 1 as a condition to be on ...

VENTURE CAPITAL: Walden International plans to re-enter India
Mumbai, July 15 Walden International Group, an US-based venture capital firm, on Tuesday announced its plans to re-enter the Indian markets. ...

ANNOUNCEMENTS: Corporate developments
Coimbatore, July 15 Bosch Chassis Systems India Ltd’s members, at the EGM held on July 15, have approved the proposal received from Robert Bosch GmbH, the parent holding company of the promoters of the company, to ...

DERIVATIVES MARKETS: Volatility index increases to 49 – highest close since January 28 crash
Ranbaxy open interest jumps. Chennai, July 15 Turnover remained modest at Rs 44,122.92 crore against Monday’s figure of about Rs 40,096 crore. The discount of Nifty July future with respect to the spot close jumped to 32.2 points, mainly ...

STOCKS: SpiceJet raises funds from WL Ross
No takeover, open offer to trigger stock. The infusion of $80 million (Rs 345 crore) into SpiceJet by private equity firm WL Ross & Co LLC is positive for the airline, as it may help fund sustained operations amid mounting losses and ...

TODAY'S PICK (Latest Audio: English/Tamil)
RECOMMENDATION: YES Bank (Rs 107.40): Sell
We recommend a sell in YES Bank from a short-term perspective. It is clearly evident from the charts of YES Bank that it has been on an intermediate-term downtrend from its all-time high of Rs 277 recorded in January 2008, forming lower peaks and ...

RECOMMENDATION: Day Trading Guide
After moving around the Rs 600 level for a week, the stock formed a pennant pattern. On Tuesday, it conclusively broke out of this pattern by declining more than 8 per cent, with heavy volume. We maintain our sell recommendation. ...






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