Two Ketan stocks back in favour
Mumbai: DSQ Software and Silverline Technologies, two stocks considered to be Ketan Parikh's favourites, and which had fallen on bad days after the tech bull was arrested, are back in the limelight, says a news report. Indeed, the average daily volume in DSQ Software has shot up 407 per cent in the last three days, over the average daily volume in the preceding three months.

The average daily volume on the BSE and the NSE in the DSQ Software scrip has increased from 1,56,776 shares to 7,96,057 in the last three days. Similarly, the volume in Silverline Technologies has jumped 95 per cent over the same period. The Silverline stock, which is traded on the BSE only, had an average daily volume of 4,71,517 shares in the three months immediately prior to last Friday, December 5, but the average daily volume has shot up to 9,20,333shares in the last three days.
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Market rally helps UTI-I become debt-free
Mumbai: UTI-I, the specified undertaking of the Unit Trust of India, which houses all the assured return schemes of the erstwhile Unit Trust of India (UTI), has become a debt-free fund about two weeks back. A rally of over 75 per cent in the 30-share BSE Sensex during the current fiscal has helped UTI-I erase a huge debt of Rs 3,500 crore in the current fiscal, reports suggest.

A top UTI official said: "Cash generated from the equity market on a regular basis, recovery of non-performing assets (NPAs) and the interest has led to the cash flow and the erasing of all debts of UTI-I." All the loans belonging to UTI-I was used for serving US-64 units, the erstwhile flagship scheme of UTI.
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Modi Rubber open offer case: HSBC Securities cleared
Mumbai: The Securities and Exchange Board of India (SEBI) today absolved HSBC Securities of any negligence while acting as merchant bankers to the public offer made in June 2001 by V K Modi and others to acquire shares representing 35 per cent equity capital of Modi Rubber.

The capital market regulator had probed whether HSBC Securities had complied with all regulations while acting as merchant banker to the offer, which had run into a muddle when LIC, after giving its shares in the offer, backed out saying that its officials who tendered the shares were improperly authorised. Incidentally, SEBI chairman G N Bajpai was heading LIC at the time. LIC subsequently moved the Bombay High Court seeking to get its shares back.
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