Sensex gains 118 points at close
Mumbai: Institutional investors bought key index stocks in the afternoon trading session on Monday and helped the BSE Sensex end a volatile day with a 118-point gain over its previous close. In extremely choppy trade, the benchmark 30-share index moved in a range of 206 points. After falling 75 points, the Sensex recovered to end with a gain of 117.91 points (1.98 per cent) at 6,064.10, snapping its two-day losing streak. The NSE S&P CNX Nifty index also ended with a gain of 34.70 points (1.83 per cent) at 1,935.35.

Brokers said stock prices rose mainly on the back of strong buying in index (Sensex and Nifty) by some FIIs. In addition, buying gained momentum in the final hour on account of short covering. A news report that South Korea's largest steel manufacturer Posco has hiked steel prices by 11-14 per cent effective next month brought increased interest into steel stocks, especially for Tata Steel. The Tata group company's stock gained nearly five per cent to close at Rs 457.20.
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PTC to go public in February
New Delhi: Power Trading Corporation (PTC) will enter the capital market next month with its initial public offering (IPO) to garner a capital of Rs 58.5 crore. The draft prospectus for the issue was filed last week with market regulator, the Securities and Exchange Board of India (SEBI).

PTC has appointed SBI Caps and Enam Financial Consultants as the book-running lead managers and KJMC Global Market as co-book running lead manager for the IPO, T N Thakur, CMD, PTC, said. At present, PTC has paid up capital of Rs 91.5 crore which will go up to Rs 150 crore after the IPO. The authorised capital of PTC is Rs 750 crore. PTC registered a turnover of Rs 998 crore in the first six months of current fiscal as against Rs 900 crore in the last full financial year.
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Suven Life allots preferential shares
Hyderabad: Suven Life Sciences has informed the stock exchanges that its board of directors on Monday has allotted 30 lakh equity shares of face value of Rs 2 each on preferential basis to four investors.

While Emerging Markets Management LLC was allotted 10 lakh shares, Aeneas Portfolio Company LP 8.75 lakh shares, Commonwealth Equity Fund Ltd, a sub-account of Batterymarch Financial Management Inc, 6.25 lakh shares and Mr Rambabu Chirumamilla was given 5 lakh shares.
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Birla Sun holding in Heritage Foods goes up
Mumbai: Heritage Foods (India) Ltd has informed the stock exchanges on Monday that it has received information from Birla Sun Life Asset Management Company Ltd on Saturday stating that the schemes of Birla Mutual Fund have acquired more than 5 per cent of the paid-up equity share capital of the company.

Birla Mutual Fund has acquired 11,883 shares of Heritage, amounting to 0.12 per cent of its total share capital, on January 7 through open market. Following this, the holding of Birla Mutual Fund now stands at 5,01,501 shares, amounting to 5.02 per cent of the total paid-up share capital of Heritage Foods, the stock exchanges were informed.
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Rupee, a bit firmer
Mumbai: The rupee closed on Monday at 45.4050/4100, two paise up from Friday's close of 45.42/43 against the dollar.

The domestic currency opened lower at 45.44/45 but rose contrary to the international scene of the greenback gaining against international majors.
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