Sensex sheds 116; PSU shares lead fall
Mumbai: The BSE Sensex closed 116.29 points (2.03 per cent) down at 5,618.15. On the NSE, the S&P CNX Nifty closed at 1786.80, down 34.55 points (1.90 per cent).
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Shourie on Stock Crash: We know
New Delhi: Government has said it knows the identity of the people responsible for pulling down stock prices and fixed the responsibility on financial advisors to motivate and inform the public. Mr Arun Shourie said that he would bring this to the notice of the Prime Minister, the Deputy Prime Minister and the Finance Minister. According to him some people worked in anticipation that the Government will give a 5-10 per cent discount from the last closing price when it announces the floor price. He also said that he had informed the financial advisors for the six issues, for sale of Government equity, about these parties. He declined to divulge their identities.
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Patni Computers lists at marginal premium
Mumbai: The IPO of Patni Computers made its debut on the stock market on Wednesday. The scrip closed at Rs 234.45 on the NSE compared to the offer price of Rs 230 for Rs 2 face-value share. It touched a day's high of Rs 301 and low of Rs 231.15. On the BSE the stock closed at Rs 233.20, intra-day touching a high of Rs 305 and a low of 231.05 with a total volume of 60.50 lakh shares.
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GAIL India: Share Floor Price at Rs 185
New Delhi: The Government has fixed a floor price of Rs 185 per share and will give a five per cent discount to retail investors for the proposed public offer for sale of its 10 per cent equity in the gas transmission company GAIL (India) Ltd. The GAIL public offer for selling 8.45 crore shares will open on February 27 and close on March 5.
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Abbott dividend at Rs.35 per share
Mumbai: Abbott India Ltd has posted a net profit of Rs 14.86 crore for the fourth quarter ended November 30, 2003. Total sales revenue increased to Rs 100 crore (Rs 94.46 crore). The company has posted a net profit of Rs 67.98 crore for the year ended November 30, 2003, compared with Rs 55.69 crore in the same period in 2002. The board has recommended a dividend of Rs 35 per equity share of Rs 10 each, the company told BSE.
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Gillette announces 35 per cent special dividend
New Delhi: Gillette India announced a net profit of Rs 44.82 crore for the financial year 2003 as against the Rs 6.46 crore posted in the previous year, the highest growth in Gillette India's 20-year history. The company announced a regular dividend of 35 per cent and a one-time special dividend of 50 per cent, amounting to 85 per cent dividend (Rs 8.50 per share).
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