Rupee declines by 3 paise
Mumbai: The rupee closed at 48.39 against the dollar on Wednesday as compared to Tuesday's close of 48.3625/37 in the forex market. There was steady demand for the dollar across the board.
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Clariant told to make open offer for Colour-Chem stake
Mumbai: The Securities and Exchange Board of India (SEBI) has directed Swiss multinational Clariant International (acquirer) to make an open offer for 20 per cent stake to the shareholders of Colour-Chem.
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Bear domination
Mumbai: Bears were in control of Wednesday's trading activity. Bulls were unable to make any recovery during the day's trading. The market sentiment reading of the tradable counters stands strongly bearish.
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Block deals in Indal
Mumbai: Indian Aluminium (Indal) witnessed huge block deals on the Bombay Stock Exchange (BSE) on Wednesday. Dealers said that most of the shares were bought by the Aditya Birla Group company, Hindalco.
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Portfolio managers allowed to invest in derivatives
Mumbai: Among the derivative instruments, stock futures account for 60 per cent of the total turnover of the derivatives segment in the Indian stock exchanges. The capital market regulator, SEBI, is amending its regulations on portfolio managers.
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Hind Lever, Reliance drag index further down
Mumbai: The domestic market sentiment remained subdued during Wednesday's trading. The lack of positive market triggers coupled with a weak trend in market heavyweight Hindustan Lever pulled down the key market indices. The Sensex recorded a 17.01-point drop on Wednesday, extending its three-day decline to about 61 points.
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13 companies in dock over stock scam
New Delhi: THE Government has cracked the whip on 13 companies, including those controlled by Mr Shankar Sharma, stock broker, Mr Nirmal Bang and the former President of the BSE, Mr Anand Rathi, all facing charges of stock market manipulation dating to March 2001.
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Bankruptcy fears drag ABB bonds near junk status
Zurich: Industrial engineering group ABB, its stock hitting fresh historic lows on Wednesday and its bonds trading near junk levels after an earnings warning, tried to quell market worries of a grave, new financing crisis.
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