When mantris meet, stocks retreat
Mumbai: The taxpayer may lament the fact that Parliament sits on average for less than 90 days in a year, but the markets, if they could have their way, would rather have our MPs sit at home. Or so the data suggests
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`Debt market volatility impacts bond funds'
Mumbai: Volatility in the debt market has impacted bond funds which have given average one-year return of 12.89 per cent as on June 28, 2002 (the last day of trading) compared to 16.72 per cent as on December 31, 2001.
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Bears prevail
Mumbai: Thursday's trading activity witnessed mild bear domination. Bulls were unable to make any recovery during the day's trading. They were successful to the extent of initiating uptrend in a few counters.
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Merger hope lifts Burroughs Wellcome
Bangalore: Burroughs Wellcome India has been gaining in the past few days on account of talks about the completion of merger with GlaxoSmithkline India. Dealers said the swap ratio could be favourable to shareholders of Burroughs Wellcome.
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LIC sells entire stake in Reckitt under buy-back
Mumbai: Life Insurance Corporation of India (LIC) has sold 19.6 lakh equity shares, or about 6 per cent stake of Reckitt Benckiser (India) Ltd under the company's buy-back programme.
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SEBI suspends BSE broker
Mumbai: In the on-going investigation into the share price manipulation of Amara Raja Batteries, the Securities Exchange Board of India has suspended BSE member Mr Prakash K. Shah for a period of three months effective from August 12,2002
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Drought fears snip tax sop gains
Mumbai: For the stock markets caught in a bearish grip, there appears to be little respite in sight. For the third day in succession, on Thursday the BSE Sensex recorded a decline, closing at 2975.81 points, 11.84 points lower than Wednesday's close.
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REC net up at Rs 72.47 cr in Q1; plans IPO
New Delhi: Rural Electrification Corporation (REC) has recorded a profit-after-tax (PAT) of Rs 72.47 crore on net sales of Rs 386.80 crore for the first quarter ended June 30, 2002.
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Rupee firm; gilts rise
Mumbai: The rupee closed steady at 48.66 against the dollar on Thursday, unchanged from Wednesday's closing levels, in the forex market.
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