Bulls run the show
Mumbai: Bulls, though were ruling Tuesday's trading activity, were unable to make any impact during the day's trading. But the sentiment reading of the tradable counters continue to remain neutral. Bull domination on Wednesday is likely to change the sentiment reading in their favour. Otherwise, the prevailing sentiment reading is likely to continue with an increase in the bear count.

Initially the near month September contract went down by six points, according to Nifty futures recommendation. Later on, bulls made a strong comeback and took control of the day's proceedings. The September contract moved within a band of 48 points. It closed higher with a gain of 39 points with respect to previous close.
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Clariant India creates a 52-week high
Mumbai: The Clariant India stock on the back of a block deal involving 78,650 shares, created its 52-week high on the Bombay Stock Exchange at Rs 185.90, but for lack of follow up interest, it closed lower at Rs 179.90. The delivery figures suggested substantial investment buying in the stock. On the BSE, 93.46 per cent of the traded quantity was put up for delivery, while on the NSE it was 89.17 per cent.

The trading volume in the counter revived recently and during the period between 16 September and 23 September, it has gone up by 15.16 times on the NSE in anticipation of good a second quarter numbers. According to some analysts, the expectation is based on indications of a revival in the textile industry. Clariant India is the largest player in the textile chemicals in the country.
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Harshad's ACC, Snowcem shares get bid notices
Mumbai: The custodian in charge of the scam-tainted shares of Harshad Mehta and various entities of the Harshad Mehta group in the companies ACC and Snowcem has issued a public notice for sale of the shares through public auction. Both blocks of shares fall under the Controlling Block Category, over 1.62 crore shares of ACC constituting well over 9 per cent of the equity capital of the company.

Offers are invited both from individuals as well as from corporates and other entities, said the notice for auction. The last day for submission of offers is October 8, with the Disposal Committee to open the offers on the evening of the same day. The Special Court hearing the case had earlier okayed the transfer to the custodian of the shares in ACC. The acceptance of the bids or offers will be subject to the approval of the Special Court, said the notice. "The Hon'ble Special Court after ascertaining the highest offer may give an opportunity to the management of the said Companies to buy or to the Companies to buy-back as per provisions of the Companies Act 1956, the said `Controlling block' of shares if they so desire," said the notice.
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Mutual funds seek NRIs ahead of RIB maturity
Mumbai: With the $5.5-billion Resurgent Indian Bonds (RIBs) set for maturity from 1 October mutual funds (MFs) are eyeing non-resident Indians (NRIs) to grab a share of the reinvestible corpus, newspaper reports said. They are now joining hands with several individual distributors as well as banks in the Middle-East to reach out to the NRI population.

Fund managers at MFs estimate that the industry is likely to witness NRI inflows of up to Rs 5,000 crore over a period of next two to three months. A clutch of frontline debt players like SBIMF, Birla Sun Life MF (BSLMF), Standard Chartered MF (SCMF) and JMMF are all in the fray to attract the NRI liabilities. A handful of others are also contemplating the launch of new schemes dedicated to this purpose.
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