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April-June
M-cap declines 5.83%
Mumbai: The first
quarter of the current financial year seems to have been rather dull
for the capital market as a whole. The total market capitalisation of
the market barometer 30-share BSE Sensex went down by Rs 16,195.78
crore.
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Retail
investors set to return
Mumbai: The
stock market seems to be bottoming out. This is the impression one
gathers from a cross section of market players. The market has been
preparing the ground for a bull phase for quite some time now.
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Exit
route must for all M&As, says Sebi
New Delhi:
An acquirer has to provide an exit route for the minority shareholders
irrespective of whether the acquisition is friendly or hostile, says a
Securities and Exchange Board of India ruling.
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Poor
post-IPO show raises doubts on book-built pricing
Mumbai: The
sombre performance of initial public offerings through the
book-building process continues with the latest to join the bandwagon
being i-flex Solutions Ltd.
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Govt
to help UTI sponsors with past MIP liabilities
New Delhi: The
central government has decided to provide comfort to the sponsors of
the Unit Trust of India for the past liabilities arising out of the
MIP schemes from September 2002.
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DCA,
SEBI in talks on preference allotment norms
Mumbai: The
Department of Company Affairs is in talks with the Securities and
Exchange Board of India on the issue of bringing about further changes
in the existing pricing guidelines and issuance norms on preferential
allotment of shares.
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VSNL
drifts lower
Mumbai: With
accounting malpractices in more and more companies coming out in the
US, the sentiment at the stock markets has taken a toll. After Enron,
it is now the turn of WorldCom and Xerox Corp, to disclose that they
have not followed accounting norms carefully.
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Watch
the yen to trade the rupee
Mumbai: It is highly
likely that the next big level of 50 to the dollar will have to wait
for a fairly long time and we may perhaps see this level only in the
last quarter of this year. An analysis shows that the rupee is
generally susceptible to depreciation in the last quarter of the year
2001.
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PSU
bonds expected to bolster the market
Mumbai: Some of the
public sector companies have entered the market. During last week
alone, institutions such as the Power Finance Corporation and Hudco
raised close to Rs 550 crore. PFC raised the funds through the on tap
seven-year bonds route, which allowed it to access funds at 9 per
cent.
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