SEBI hunts down unofficial markets
Mumbai: The Securities and Exchange Board of India (SEBI) has launched a clampdown on the ever-increasing unofficial stock markets in various cities across India. As part of this drive, SEBI has debarred stockbroker Pradeep Kumar Bansal and his company, Bansal Sharevest Services, from dealing in the securities market with immediate effect. Bansal and his company were debarred after a raid conducted by SEBI officials jointly with the National Stock Exchange at the offices of the broker in various cities.

"The preliminary findings of inspection prima-facie indicate illegal trading in securities by the broker and his firm," a SEBI statement said on Wednesday. It has also advised NSE, CSE, UPSE and ISE to de-activate the terminal of Bansal and his firm with immediate effect. The executive director of SEBI, Pratip Kar, said this is one of the biggest raid conducted by the market regulator and the volume of transaction in the unofficial market was huge.
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VSNL buoyant on the bourses
Mumbai: Videsh Sanchar Nigam Ltd has been headed northwards on sustained buying support on the stock markets. Brokers told newspersons that Wednesday's upside was due to Arun Shourie's statement that the market is conducive for the government to divest its residual stake in all PSUs. This apart, the low float and the dividend component has also been aiding the upside in the counter.
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HLL has a great support from FIIs
Mumbai: The counter Hindustan Lever Ltd (HLL) saw some positive activity on Wednesday, supported mainly by foreign institutional investors, who were seen buying into the counter. HLL's quarterly performance, to be announced shortly, may add some more excitement.

Last week, the stock was considerably battered with rating agencies and analysts downgrading the stock. On Wednesday, it ended higher by 5.16 per cent at Rs 158.95 with 10.85 lakh shares being traded on the Bombay Stock Exchange. On the National Stock Exchange, it was 4.95 per cent up to close at Rs 158.90 with 36.48 lakh shares being traded.
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Satyam's future to change
Chennai: Satyam Computer Services stocks will see better days, say brokers. Institutional and retail investors flocked the counter and the global technology industry seems to be getting back into its winning run again after a complete meltdown in the past year-and-a-half. Indian companies, particularly Satyam, are expected to gain immensely. The scrip closed higher by 7.72 per cent at Rs 175.80 with volumes of 93.91 lakh shares on the Bombay Stock Exchange. On the National Stock Exchange, the stock was up by 7.65 per cent at Rs 175.80 with1.96 crore shares traded.
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