Indian ADRs, GDRs take a beating
Mumbai: It's bad news for those who hold ADRs and GDRs of Indian companies. The slump in global markets has taken its toll on ADRs and GDRs listed overseas and their prices have tumbled by 15 to 21 per cent in the last twenty days.
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MFs must ensure need-based sales
Mumbai: The next time you find you've been sold the wrong mutual fund scheme by your neighbourhood broker, you can probably sue him for it, if Sebi has its way. The regulator has imposed on MF agents the responsibility of need-based selling.
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Alliance Capital gets SEBI nod for new scheme
Mumbai: Alliance Capital Mutual Fund yesterday announced that it has received clearance from the Securities and Exchange Board of India (SEBI) to launch the Alliance Frontline Equity Fund (AFEF), an open-ended equity scheme.
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Bears recoup
Mumbai: Bears regained their strength and were in total control of Wednesday's trading activity. Bulls were unable to make any impact during the day's trading. The sentiment reading of the tradable counters stands bearish.
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GlaxoSmithKline gains on consolidation hopes
Mumbai: The stock of GlaxoSmithKline Pharma has been rising with expectations of a better performance in its second quarter ended June 30, 2002. There is also speculation about the company considering a merger with a large international pharma comapny.
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Global `heat' melts stocks
Mumbai: The global meltdown and monsoon worries continued to affect the stock prices, pushing the BSE Sensex to the eight-month lows yesterday. The sustained selling in the US and other markets led to domestic markets reel under selling pressure both from institutional investors and operators.
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Block deals in e-Serve International
Mumbai: Block deals are in vogue in the stock market nowadays and the latest stock to witness the trend was Citigroup company, e-Serve International. About six lakh shares were understood to have been transacted through the  block deals on Wednesday.
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Special margin on Shriram Transport
Mumbai: The BSE has imposed a special margin of 25 per cent on Shriram Transport Finance Company Ltd from Wednesday.
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Dollar stabilises amid US equity markets turmoil
Mumbai: The dollar stabilised against other major currencies on Wednesday after a stunning rally that fizzled out amid renewed turmoil in US equity markets.
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Rupee firms up; gilts rise
Mumbai: The rupee on Wednesday closed a tad stronger at 48.67/68 per dollar unit as compared to its previous closing levels of 48.6850.
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