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SAT
upholds SEBI order on Wimco - Swedish Match to make open
offer
Mumbai: The Securities Appellate Tribunal (SAT)on
Tuesday upheld the Securities and Exchange Board of India
(SEBI) order directing Swedish Match Group (SMG) to make
an open offer for 20 per cent shares to the shareholders
of Wimco.
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Ramco
Systems jumps
Mumbai: Operator-driven and highly volatile counter
of Ramco Systems today shot up in terms of volumes and
price on the major bourses. The stock closed at Rs 545.35
(Rs 509.50), after touching the intra-day high of Rs 555.50
on the BSE.
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GTL
in limelight
Kolkata: GTL (formerly Global Tele-Systems) was back
in action on news that the company's board on February
24 would discuss the valuation report relating to a proposed
acquisition. TThe stock, after scaling a high of Rs 87.10,
closed at Rs 85 against the previous closing price of
Rs 78.15 on the BSE.
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Funds
interest seen in PNB
New Delhi: Punjab National Bank attracted much interest,
particularly from institutions, on Tuesday. According
to market sources, domestic funds and institutions flocked
the counter ahead of the Union Budget.
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FIIs
raise holding in Digital GlobalSoft
Mumbai: Foreign financial institutions have steadily
increased their holdings in Hewlett-Packard's locally
listed software services arm, Digital GlobalSoft Ltd in
the current financial year.
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Sundaram
AMC eyes portfolio management
Chennai: Sundaram Asset Management Company (SMAC)
plans to offer portfolio management services (PMS) shortly.
According to T.P. Raman, Managing Director, SMAC, the
proposed portfolio management business will be a stand-alone
division of the company, clearly demarcated from its existing
mutual fund business.
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Meet
soon to demarcate DCA, SEBI functioning
Mumbai: To discuss the overlapping functions of the
Department of Company Affairs (DCA) and the Securities
and Exchange Board of India (SEBI), the DCA Secretary,
Vinod Dhall, is likely to meet SEBI Chairman, G.N. Bajpai,
shortly.
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Re
up 6 paise; gilts weak
Mumbai: The rupee ended almost 6 paise stronger on
Tuesday at 47.7050/7150 against the dollar as compared
to Monday's close of 47.7600/7700 in the local currency
markets.
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Dow
up 132 points at close
London: Stocks gained for a second straight session
on Tuesday as investors set aside worries of a possible
US-led war on Iraq and snapped up shares in such technology
companies as EMC Corp. and Microsoft
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