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Matrix
mulls pref offer; board to meet on Jan 28
Hyderabad: The board of directors of Matrix Laboratories
Ltd, the Hyderabad-based pharmaceutical company, would
meet on January 28 to consider a proposal to offer shares
to the promoters group on a preferential allotment basis.
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Narrow
movement
Mumbai: Tuesday's trading activity witnessed narrow
movement. Neither the bulls nor the bears could gain much
from the day's trading. The sentiment reading of the tradable
counters continues to remain bearish.
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FII
selling chokes ITC
Kolkata: ITC came under selling pressure on Tuesday.
Market players attributed the selling to the possibility
of the Government plans to impose Value Added Tax (VAT)
on cigarettes. This was not the only reason for the stock's
fall.
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Value
buying lifts Pidilite Industries
Mumbai: Pidilite Industries Ltd (PIL) appears to
have captured market interest by virtue of trading at
far lower multiples in comparison to other leading consumer
goods companies.
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NHB
amends norms for capital market exposure of HFCs
Mumbai: NATIONAL Housing Bank has amended its guidelines
to allow housing finance companies (HFCs) a maximum exposure
in the capital market to five per cent of its total outstanding
advances as on March 31 of the previous year.
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Tech
stocks battered; SBI, Grasim shine
Mumbai: After a sharp slide on Monday, the stock
market staged a recovery on Tuesday. The Sensex went up
by 12.25 points or 0.37 per cent to end at 3354.14. The
NSE Nifty inched up by 1.55 points to close at 1077.9.
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Dow
Jones down 144 points at close
Mumbai: US stocks fell on Tuesday for the fourth
straight session as a warning from President Bush and
the U.S. troop build-up against Iraq rattled investors
already worried over the corporate outlook at the height
of earnings reporting season.
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Rupee
stable; gilts up
Mumbai: THE rupee ended on Tuesday at 47.9400/9500,
almost unchanged from Monday's close of 47.9450/9500 in
the forex market. The domestic currency was range-bound
with thin supplies and little demand.
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