Fast track
Positive changes ahead
THE Indian equity market is in the midst of earth shattering changes. We are into the third week of the big move into rolling settlement; almost every stock that counted in terms of investor interest has been moved into rolling settlement.
Impact
Mukta Arts: Already a priced show
THE sale of the domestic theatre rights for Yaadein by Mukta Arts may not lead to any significant improvement in the valuation of the stock. The stock has gained close to 50 per cent in the last two months and further upside from the present levels in th
e short-term appears unlikely.
Silverline: No silver lining here
FOR the stock of Silverline Industries, yet another uncertainty has emerged in the form of a possible large cash outflow. The integration of the process of merger of SeraNova Inc of the US with Silverline Industries could lead to a outflow of around Rs 2
75 crore for Silverline.
Tisco: Steel in tumult
THE Tata Steel stock may trade with a downward bias following indications of a sharp cut in production in the July to September 2001 period. The production at its new cold-rolled mill is to be slashed by 30 per cent to 70,000 tonnes per annum from one la
kh tonne per annum.
Stocks
Wipro on song; RIL, HLL, ITC drift
AFTER remaining flat in the last couple of days, the stock markets did move, but on the negative side, on Wednesday as the old-economy stocks, particularly Reliance Industries, ITC and Hindustan Lever Ltd, caved in to selling pressure.
Lyons Range
KOLKATA: THE Calcutta Stock Exchange on Wednesday saw the CSE-50 index slip on depressed sentiment. The index, touching a low of 116.74, closed at 123.98 points against the previous closing of 125.43.
Technical Analysis
Bear domination
WEDNESDAY'S trading witnessed a bear domination. However, the trend in the index remained sideways. The intra-day movement in Nifty was around 20 points. Bears gained around 13 points from the day's trading. The bulls were unable to make any recovery dur
ing the day. The market sentiment reading of the tradable counters remained bearish.
