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Birlas
to bid for Alliance Cap
Mumbai: Birls Mutual Fund will bid for Alliance
Capital, one of the two foreign fund houses that are seen
to be pulling out of the country. This is the first time
that a major player has publicly expressed its desire
to consider acquiring Alliance.
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US
stocks rally on H-P forecast
New Delhi: Wall Street's rally gained momentum
Thursday, with stocks rising sharply for the second straight
day, this time on Hewlett-Packard's better-than-expected
results. The Dow Jones industrials rose more than 220
points and closed at their highest level in three months.
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Bulls
consolidate further
Mumbai: Bulls exerted further pressure over Thursday's
trading activity. Their dominance left the bears with
no opportunity to recoup their losses. The market sentiment
reading of the tradable counters remains strongly bullish.
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CSE
members decline to pass accounts at reconvened AGM
Kolkata: The Calcutta Stock Exchange members did
not pass the resolution related to 2001-02 accounts at
its reconvened AGM yesterday, but the resolution pertaining
to appointment/re-appointment of three directors was adopted.
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IDBI
Bank gains on talk of foreign interest
Mumbai: The stock of IDBI Bank has been witnessing
intense activity in the past few days as news of foreign
banks picking up stake in the bank trickled in. IDBI Bank
has gained about 14 per cent since November 11.
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Order
talk pushes Infosys up
Mumbai: Technology major Infosys Technologies ended
considerably higher on Thursday on rumours that it could
be bagging a large order soon. According to market sources,
many funds fancied the stock in a big way.
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Media
stocks in limelight
Mumbai: Stocks of media companies have climbed
up in recent times. These include Balaji Telefilms (BTL),
Television Eighteen (TV18) and Sri Adhikari, led by Zee
Telefilms. Analysts tracking the sector said the upturn
in media stocks was a reflection of the larger picture.
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Arvind
Mills rises on bargain-hunting
Mumbai: The stock of Arvind Mills has been witnessing
significant volume on the bourses in recent times on bargain-hunting
spree. According to brokers and analysts, the stock has
seen sudden spurt in volumes in the last two sessions
with over 10 per cent gain in price.
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Re
closes at 11-month high of 48.18
Mumbai: The rupee closed at a new 11-month high
against the dollar at 48.1850/19. It gained around three
paise as compared to its previous close of 48.2150/2250.
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