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Bears regain control
Bears regained control over Friday's trading activity. Bulls were unable to
make any impact during the day's trading. However, the sentiment reading of
the tradable counters remains neutral. Bear domination on Monday is likely
to change the
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United Phos gains ground as funds hike stake
Mumbai: Mutual funds and other institutions have increased their stake in
United Phosphorous Ltd (UPL) following the improved financial performance of
the agro-chemicals manufacturer. Mutual funds' holding increased from 0.11
per cent at the end of at the end of March 2002 to 7.6 per cent by June end.
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Bearing stocks in the limelight
Mumbai: The stocks of bearing companies are pillion-riding a general
buoyancy in the auto sector. Among the prominent bearings counters
Bimetal, SKF and FAG Bearing closed higher today, while Timken and NRB
Bearings saw some correction.
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Talk of bulk exports lifts Wockhardt
Mumbai: The Mumbai-based pharma major Wockhardt's stock was in the limelight
with the counter witnessing activity during Friday. Market sources say the
company has flagged off its first overseas shipment consisting of bulk drugs
and formulations.
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`No plans to invest PF balances in capital market'
New Delhi: The Government has said that there is no proposal to invest
General Provident Fund balances in the capital market. The Minister of State
for Finance, Mr.Anant G. Geete, told the Lok Sabha that since no pension
fund exists in
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Pharma majors in good health; techs suffer
Mumbai: Bears stole the show during Friday's trading breaking the thin line
of defence put up by the bulls on Thursday. Wall Street blues and a disappointing performance from Wipro was
all that was needed to increase the vigour of the bear grip on the market. The bulls now go into the weekend
with a distinct disadvantage. Dese bulls have lost ground, the magnitude of the
loss was not significant. Therefore, it would be interesting to see how the tussle develops at the start of
trading after a well-deserved break.
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Decision on equity sale by PSUs in a week
New Delhi: The Union Government will decide in a week whether to allow public
sector companies to sell equity through public offers before
disinvestment. "We hope to have a final decision from the Union Government on whether to
allow PSUs, including ...
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Re up 4 paise; gilts lose
Mumbai: The rupee closed stronger on Friday by 4 paise at 48.73/7350 against
the dollar after opening at 48.77/78 in the forex market. The supply of
greenbacks was substantial, flowing in from all possible avenues.
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Smaller auto scrips rise on better sales
Mumbai: The limelight has lately been on major auto companies like Hero
Honda, Bajaj Auto, Telco and Ashok Leyland, but the performance of the
shares of other auto companies has been equally encouraging.
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