Sensex up 28 points at 4462
Mumbai: The Sensex opened with a huge positive gap of 25 points at 4,459. It is now up 28 points at 4,462. Infosys has zoomed nearly 2% (Rs 87) to Rs 4,334. HCL and Satyam are also trading with gains. HLL has gained Rs 2 to Rs 197. Reliance is up a rupee at Rs 437.

SBI is up a per cent (Rs 4) at Rs 446. BHEL, HPCL and MTNL are also in positive zones. Glaxo is up 3% (Rs 14) at Rs 480. Cipla, Dr. Reddy's and Ranbaxy are also trading with gains of nearly 2% each.
Back to News Review index page  

Divus Laboratories launched in Delhi
New Delhi: Divus Laboratories Ltd, a new pharmaceutical company, has been launched in New Delhi with an equity base of Rs 2.05 crore. The company, which was formed by five first generation entrepreneurs, will be marketing and building nine brands initially. Divus is also in an advanced stage of talks for a technical tie-up with four overseas pharmaceutical companies (two US-based and two European), Atul Gandotra, the company chairman, said.

Delhi-based Divus Laboratories is promoted by Atul Gandotra (chairman), Rajiv Aggarwal (managing director), Narendra Saxena (executive director), Bharat Bhushan Aggarwal (director operations) and Rakesh Gupta (director, operations).
Back to News Review index page  

BSE calls for 10-25% special margin on 113 stocks
Mumbai: The Bombay Stock Exchange has decided to impose a special margin on as many as 113 stocks. The rate of margin is in the range of 10 per cent to 25 per cent, and in some of the counters this margin has been imposed on both the purchase and sell transactions. The BSE said the special margins have been revised keeping in view the closing prices of these stocks on the previous trading day and will be imposed on the basis of member-wise gross purchase or sale position (client-wise net).

Some of the prominent stocks of 'A' group where this margin is being imposed from 8 September include Adani Exports, Digital Global, Geometric Software, Hexaware Technologies, Hughes Software, Mastek, Satyam Com-puter, Steel Authority, State Bank and Tata Steel.
Back to News Review index page  

Funds go slow as RIBs' maturity nears
Mumbai: At a time when the Resurgent India Bonds (RIBs) of $5.5 billion are to mature in the next few weeks, fund managers are keeping their fingers crossed and testing the waters to see whether the market is ready for it as the liquidity position is comfortable as of now. Fund managers say by September-end they will take a decision on whether they need to drop the maturity levels of bond funds.

The key issue will be how much of the RIBs will be converted into non-resident (external) deposits (NRE rupee account) or invested in equity or debt mutual funds, as the liquidity will come back into the system. If there is an outflow of the entire amount, there will be a pressure on liquidity, the fund managers were quoted as saying.
Back to News Review index page