Hind Motors to divest stake in Hind Powerplus
New Delhi: Hindustan Motors Ltd has informed the Bombay Stock Exchange that its board of directors has decided to divest the company's holding of 18,00,000 shares in Hindustan Powerplus Ltd (a joint venture between Hindustan Motors and Caterpillar SA ) at the offered price of Rs 32 per share.
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Matrix plans open offer at Rs 276
Hyderabad: The promoter group of Matrix Laboratories Ltd (MLL), a Hyderabad-based pharmaceutical company, have decided to go in for an open offer to the MLL shareholders following the recently-concluded preferential offer to the promoters.
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First India MF on the block - Sahara emerges possible buyer
Mumbai: First India Mutual Fund, promoted by Dr A.C. Muthiah, with equity participation from two overseas partners, has been put on the block. Sahara India has emerged as a possible buyer.
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Reliance Capital MF plans banking scheme
Kolkata: Reliance Capital Mutual Fund has worked out a scheme exclusively for the banking sector. Reliance Banking Fund, the proposal for which has been sent to SEBI for vetting, will be the country's first sectoral fund of its kind.
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FIIs shed Infosys
Mumbai: Infosys Technologies witnessed selling mainly by foreign institutional investors. According sources in the market, the reason cited for the slide is the present Iraq conflict.
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Hero Honda skids to 52-week low
Mumbai:Invetstor interest in Hero Honda appears to be waning following reports of the company's sales growth getting fettered by an aggressive competition. The stock, which had declined by almost 12 per cent week-on-week, fell further to hit a 52-week low intra-day yersterday. The stock ended the day 5 per cent weaker on the BSE at Rs 220.35 with around 3.05 lakh shares traded. On the NSE the stock closed at Rs 220.15 down 5.33 per cent with around 8.2 lakh shares traded.
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SEBI directive to SEs on subsidiaries
Mumbai: The Securities and Exchange Board of India yesterday directed smaller stock exchanges to restructure the management structure of their subsidiaries including appointment of an independent Chief Executive Officer (CEO) not holding any position with the promoting stock exchange.
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Re loses 5 paise; gilts tumble
Mumbai: On account of heavy dollar buying by corporates, the rupee closed 5 paise weaker at 47.74/75 against the dollar on Tuesday as compared to Monday's close of 47.6900/6950.
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Dow Jones slips 77 points at close
London: US stocks fell across the board on Tuesday after an audio tape allegedly from militant leader Osama bin Laden reignited investor jitters that war with Iraq was drawing near.
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