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Wipro
scrip up on Gates' big BPO call
Bangalore: An unexpected endorsement of Wipro by
Microsoft's chairman and chief software architect Bill
Gates and the possibility of it bagging a large business
process outsourcing order from Microsoft sent Wipro's
scrip soaring.
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Kennametal
to make open offer for 23 pc Widia stake
Mumbai: The world's second largest metals company
Kennametal Inc., which bought out Widia India from Milacron,
has proposed to make an open offer to acquire up to 23.32
per cent of the outstanding equity stake held by the public
at Rs. 76.28 per equity share, manager to the proposed
issue, J.M. Morgan Stanley has said.
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LIC
Mutual launching Index fund today
Mumbai: LIC Mutual Fund, sponsored by the Life
Insurance Corporation of India, has announced the launch
of its Index Fund, an open-ended index linked scheme seeking
to provide capital growth by investing in index stocks.
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Initial
gains not held
Mumbai: Bulls exerted further pressure during the
initial hours of Wednesday's trading. Thereafter, bears
made a comeback and recouped their early losses. Bulls
were successful in reducing the bear count by a substantial
margin.
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Bajaj
Auto in top gear on Kawasaki `interest'
Mumbai: The stock price of Bajaj Auto has been
on a roller coaster ride in the recent past. Impressive
second quarter performance and the company's decision
to introduce two new models in the immediate future have
ensured continued interest in the stock.
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Disinvestment
hopes fuel rally in HPCL
New Delhi: News that the disinvestment of Hindustan
Petroleum Corporation Ltd (HPCL) may finally be on track,
with a meeting of key Union Ministers reportedly scheduled
on November 19, yesterday propelled the company's stock
on the bourses.
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Max
India in limelight
Mumbai: The stock of Max India Ltd has been on
the rise with analysts putting the buying interest to
a good quarterly performance and an increase in the BPO
business prospects. The Max India stock has gained about
16 per cent since November 8.
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Gas
talk pumps up interest in Reliance
Mumbai: Buying interest on the Reliance Industries
has seemingly increased with huge volumes in the counter
on Wednesday. According to market sources, both institutional
and retail investors were flocking to the counter ever
since Reliance declared a natural gas find of 7 trillion
cubic feet in the Krishna-Godavari basin.
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Formal
SEBI probe soon into circular trading
Mumbai: The Securities and Exchange Board of India
(SEBI) plans to launch a formal investigation into the
allegations of circular trading in certain stocks involving
broker Rakesh Jhunjhunwala, Kotak Securities Ltd, and
four other broking outfits.
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Reliance
maintains momentum in narrow trading
Mumbai: After some recovery on Tuesday, the Sensex
ended on a flat note on Wednesday. After opening on a
firm note at 2972.35, the Sensex went on to touch a high
of 2977.67.
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Holes
in system may have led to stock scam: Jaswant
New Delhi: The Finance Minister, Jaswant Singh,
yesterday told the Joint Parliamentary Committee (JPC)
probing the stock scam that there were deficiencies in
the regulatory system that could have led to the scam
in March 2001.
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Rupee
stable; gilts rise
Mumbai: THE rupee ended on Wednesday at 48.2750/28,
almost unchanged from Tuesday's close of 48.27/28 in the
forex market.
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