Rs 5.82-crore dues to CSE — Trial court order against Singhania set aside
Kolkata: A divisional bench of the Calcutta High Court comprising of Justice Ganguly and Justice D.P. Sengupta has set aside the decree of Rs 5.82 crore with interest at the rate of 0.9 per cent per day from March 8, 2001, passed by the trial court on September 24, 2002 against D.K. Singhania, a stock broker and member of Calcutta Stock Exchange Association (CSE).
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Hopes on price, export boost steel stocks
Kochi: Reports that hot-rolled (HR) steel manufacturers have decided to increase prices by Rs 1500-Rs 2000 per tonne fuelled sentiment in steel counters on the bourses yesterday. Jindal Iron touched a year high of Rs 89.75 on the BSE before ending the day at Rs 90.75, up 7.6 per cent with around 27.3 lakh shares traded. On the NSE, the stock was up by almost 9 per cent to at Rs 91.50 with around 32.89 lakh shares traded.
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Lockheed Martin talk pushes up M&M
Kolkata: The Mahindra & Mahindra (M&M) stockon Wednesday surged in volumes with a decent gain of around 3 per cent on the back of news that the company has entered into an agreement with Lockheed Martin Information Systems of the UK to jointly develop simulators for the Indian defence sector.
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Bharat Forge jumps on Chinese order hopes
Kolkata: The Bharat Forge stock yesterday touched its 52-week high of Rs 275 on buying at the major bourses. It, however, closed slightly lower under profit-taking towards the end.
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Stocks edge up as pre-Budget rally gains momentum
Mumbai: The BSE Sensex closed higher for the third consecutive day, as the pre-Budget rally gathered momentum on Wednesday. Positive sentiment continued to prevail in the market on expectations that the Government will abolish taxes on dividends and long-term capital gains on equity transactions in the forthcoming Budget.
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Divi Labs IPO oversubscribed
Mumbai: Divi Laboratories' initial public offer (IPO) is oversubscribed by about 1.67 times so far. The issue opened on February 17 at a floor price of Rs 130 with an issue size of 32.04 lakh shares of face value Rs 10.
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Decision on Grasim issue soon: SEBI chief
Mumbai: The SEBI Chairman, Mr G.N. Bajpai, on Wednesday said that the decision on Grasim Industries issue will be announced shortly. Bajpai, was speaking to newspersons on the sidelines of a Bombay Stock Exchange function.
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Rupee up; gilts recover
Mumbai: The rupee ended on Wednesday higher by one paise at 47.6950/7050 against the dollar as compared to Tuesday's close of 47.7050/7150 in the local currency markets.
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