Old economy stocks still suffer
Mumbai: The Bombay Stock Exchange Sensex is still suffering for the second consecutive day of trading this week. The Sensex was down by 15.45 points (or 0.43 per cent) to close for the day at 3554.13 points. The old economy stocks continued to take a beating, with cement, steel, automobile and banking being the prominent losers during the day's trading. For the second day, quite a few PSU stocks ended in the negative territory as concerns over the government's pace of disinvestment came to the fore.

The Sensex opened for the day at 3557.13 points, touched a high of 3582.08 and a low of 3534.06, before closing the day at the mid-way point of the intra-day high and low. Among the index heavyweights, the stocks, which ended in the positive territory, were Hindustan Lever and Infosys Technologies.
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Indo Rama Textiles shares listed on NSE, BSE
New Delhi: Indo Rama Textiles Ltd (IRTL) has announced the approval and listing of its shares by the National Stock Exchange (NSE) and the Bombay Stock Exchange. IRTL, which has a share capital of Rs 33.30 crore, reported a turnover of Rs 330 crore for the year ended 31 March.

"The de-merger and consequent restructuring of the share capital between IRSL and IRTL has created a lean independent organisation, thereby providing a strategic thrust to our business," Rajiv Agarwal, president-spinning, IRTL, said.
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FT plans another fund of funds
Kolkata: Frankline Templeton India (FT) is mulling over its second fund of funds (FoF) proposal. It will mainly invest in a combination of two of FT's better-known equity and income schemes. The proposed FT India Low Volatility Equity Fund will maintain a dynamically balanced portfolio, the equity portion of which will be determined on the basis of month-end weighted average price-earning (PE) ratio of the Nifty index of the National Stock Exchange.

The proposed FoF, which will primarily invest in Franklin India Bluechip Fund and Templeton India Income Fund, will have an in-built buy and sell mechanism based on valuations on the stock markets. It will pare allocation to equity if the markets get over- valued, as evident from high PE ratio of the Nifty.The PE ratio of an index is the weighted average PE ratio of all its constituent stocks - in this case, the 50 that make up the NSE index.
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Re gains 8 paise
Mumbai: The rupee regained 8 paise on a single day on good dollar supplies in the currency markets on Tuesday. The rupee ended the day at 46.1950/2050 against the dollar as compared to Monday's close of 46.2725/2825. The rupee is back at the previous Wednesday's levels. The domestic currency opened the day at 46.2900/3000 and touched an intra-day high of 46.1650.
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