LIC hikes stake in 24 Nifty cos
Mumbai: The increased interest in the equity market by Life Insurance Corporation of India (LIC) seems to have gained momentum in the last financial year with the insurance major turning out as one of the biggest investors in the stock market.
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Major purchases drive Tata Tea stock, volume
Kolkata: A heavyweight operator and a mutual fund reportedly made significant purchases in the Tata Tea stockon Monday pushing up its prices and volumes on the major bourses. On the BSE, the stock moved up by around 3.6 per cent to close at Rs 204.15 and on the National Stock Exchange by 2.6 per cent to finish at Rs 203.20.
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HFCL's GDRs converted into shares in six months
New Delhi: The entire Global Depository Receipts (GDRs) of Himachal Futuristic Communication Ltd (HFCL) have been converted into local shares within six months. The GDRs, accounted for 38.76 per cent of the company's paid-up capital at the end September 2002. But at the end of March 2003, the GDR holding has come below one per cent of the company's equity capital at just 0.24 per cent.
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Buying interest in NIIT
Mumbai: The counter of software services and training company, NIIT Ltd, witnessed significant buying interest on the bourses on Monday. According to dealers, private mutual funds were seen mopping up the company's shares.
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Rupee stable; gilts down
Mumbai: The forex markets were lacklustre on Monday, with the rupee ending at 47.3500/3600 against the dollar, almost unchanged from the previous levels
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Market likely to see mixed trend
Mumbai: Mixed trends are likely to emerge in stock prices on Tuesday keeping the market within a band. Players will be watching the trend in foreign fund flows, but the bright side of things is that these have picked up in the last few sessions after a recent drop.
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