Electrolux seeks alternate options to rights issue
Electrolux Kelvinator Ltd , the Indian subsidiary of Swedish white goods major AB Electrolux, is working out alternative options for its proposed rights issue following the recommendation of the Securities and Exchange Board of India to reject the offering.

The capital markets regulator whose views were sought by the Foreign Investment Promotion Board had recommended rejection of the proposal since it reckoned that the move could result in the de listing of the company from the bourses.
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Ballarpur Industries Rights Issue oversubscribed
Ballarpur Industries Ltds Rs 217 crore rights issue at a price of Rs 38 per share (face value Rs 10) has been oversubscribed by 35 per cent.

The company has received application of over Rs 292 crore for the rights issue, made to part finance the acquisition of Bilt Graphic Paper Limited (formerly Sinar Mas), a 115,000 tonne per annum coated paper manufacturing facility.
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Ranbaxy considering bonus
The stock of pharma major Ranbaxy Laboratories is in the spotlight with the company announcing that it will consider issuing bonus shares. Sources in the market say that the company is likely to announce a 1:1 ratio as it had done four years back. The share price of Ranbaxy has however, not appreciated considerably in the past few days. On Thursday, it went down 0.37 per cent to close at Rs 909 with 1.95 lakh shares being traded on the BSE. On the NSE, it went down 0.33 per cent to close at Rs 910 with 6.42 lakh shares being traded.
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BSE closes at 3290.56 points
The Bombay Stock Exchange Sensitive Index closed the day at 3290.56 points, down by around 41.80 points (1.25 per cent) over its previous close. The breadth of the market as measured by the ratio of advances to declines was tilted in favour of the bears with 360 stocks advancing in value against 1,372 stocks that posted declines. The ratio of stocks touching new highs against new lows indicates that the undercurrent is strongly positive, with 99 stocks touching new highs as against 17 that touched new lows. Total traded volumes stood at around 12.45 crore shares.

The trend on the National Stock Exchange was in line with that on the BSE. The benchmark S&P CNX Nifty closed the day at 1056.60 points, down by around 15.10 points (1.41 per cent) over its previous close. The market breadth was negative with 138 stocks advancing in value as against 635 that posted declines. The ratio of stocks touching new highs as compared to new lows indicates a strong undercurrent, with 24 stocks touching new highs as compared to 5 stocks that hit new lows. Traded volumes during the day stood at around 16.67 crore shares.
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Rolta stock down on talks about improper accounting
The share price of software solutions company, Rolta India Ltd, came down sharply on the bourses on Thursday, falling by almost 19 per cent, on the back of reports of alleged accounting discrepancies in its financial statements for the year 2001.

The company, however, issued a statement to Bombay Stock Exchange (BSE) denying reports that it had inflated revenue figures for the financial year 2001 by 20 per cent.
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