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Breach of
open offer norms in Sterlite acceptance alleged
Kolkata: A number
of Kolkata-based investors have pointed to what they say is
violation of open offer norms by Sterlite Opportunities and
Ventures Ltd, SBI Capital Markets and Sharepro Services in the
recent cash offer made by Sterlite for acquiring shares of
Hindustan Zinc.
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Templeton
plans to launch International Bond Fund
Mumbai: Templeton
Asset Management (India) is planning to come up with an
International Bond Fund which would invest into its $10 billion
Franklin US Government Fund.
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Bear-run
arrested
Mumbai: Bears
exerted further pressure during the initial hours of Wednesday's
trading. Later on, bulls made a comeback and wiped out their early
losses. Bulls managed to gain marginally from the day's trading.
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VSNL
scrip touches a new low on BSE
Mumbai: The share
price of Videsh Sanchar Nigam Ltd today touched a new low, at Rs
107.15 on the Bombay Stock Exchange before closing at Rs 113.15
per share. The scrip's 52-week low is Rs 111.
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BSE
lists out 500 `unknown' cos
Mumbai: Even as
the Securities and Exchange Board of India (SEBI) is busy tracing
out and taking action against vanishing companies, the Bombay
Stock Exchange (BSE) has identified a new category of `unknown
companies' with over 500 firms in the list.
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Recovery
to lift interest in GTB?
Mumbai: There are
talks that Global Trust Bank, which was in the midst of crisis
last year due to the stock market scam, is believed to have
recovered around Rs 150-200 crore from the stockbrokers; the bank
had large exposure to stock brokers before the scam.
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Shirpur
Gold minority shareholders move SEBI
Mumbai: A group
of minority shareholders of Shirpur Gold Refiners Ltd (formerly
Agee Gold Refiners Ltd) have filed a complaint with the Securities
and Exchange Board of India (SEBI) alleging that the company has
violated the takeover code on at least three occasions.
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Reliance,
MTNL end firm; techs overcome initial hiccups
Mumbai: Index
heavyweights Reliance, Reliance Petro and MTNL shored up the
market on Wednesday, ensuring that it finished the day in positive
territory, ignoring the weak closing on the Nasdaq on Tuesday that
caused tech stocks to pull down down the Sensex in the opening
hours of trade.
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GKB
Rx Lens IPO in near future
Kolkata: The Rs
30-crore turnover GKB Rx Lens Pvt Ltd has decided "in
principle'' to go public in the near future. Modalities are being
worked out, according to Mr Lalit Gupta, Director (Marketing), of
the company.
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Re
firms up; gilts bullish
Mumbai: THE rupee
ended marginally stronger at 48.4550 against the dollar on
Wednesday as against Tuesday's close of 48.4650. Dealers ascribed
the strengthening of the currency to dollar inflows continuing to
prop up the market.
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Forwards
story: one-yr cover is cheaper than six-monthly
Mumbai: Heavy
selling of forward dollars by exporters on the back of
expectations of softening interest rates and a strong rupee has
resulted in the 12-month annualised forward premium dipping below
the six-month annualised rate.
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Market
round-up
Mumbai: Call
rates continued to remain easy on Wednesday given the comfortable
liquidity in the market. Comfortable liquidity in the system was
indicated by the amount received at the RBIs repos auction.
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US-64
sales at Rs 96 crore via NAV window
Mumbai: Unit
Trust of Indias flagship scheme US-64, through its NAV window,
has sold units worth Rs 96 crore -- or around 16 crore units -- in
the last eight months, since the scheme went net asset value
-based from January 1, 2002.
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