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Sensex
up 155
Mumbai:
The 30-share BSE benchmark closed today with a 2.75 per
cent or 155.66-point gain at 5823.17. S&P CNX Nifty,
the 50-share indicator of the NSE, rose 2.95 per cent
to 1852.70 compared to its previous close of 1800.
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BSE
Counters:
ONGC
shares gained more than 6 per cent to close at Rs 760
per share. GAIL India stock ended the day with a 1.3 per
cent gain at Rs 204.55. IBP rose 1.2 per cent to close
at Rs 662.60 apiece.
CMC Ltd. closed at Rs 564.80 on the BSE. BPCL gained 6.24
per cent at Rs 491.20 on the BSE. IOC closed at Rs 471.30,
up 4.20 per cent. HPCL at Rs 473.25 was up 4.03 per cent.
Dr Reddy's Laboratories fell by 18 per cent to Rs 1,015.2
The
BSE TECk index rose 4.3 per cent to close at 1250.41 while
its counterpart on the NSE, the CNX IT, rose more than
3 per cent.
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Maruti
and Bharti in Nifty index
Mumbai: The shares of Maruti Udyog and Bharti Televentures
were included in CNX Nifty index from Monday. On the NSE,
Bharti Televentures stock gained 14.43 per cent at Rs
162.95 and Maruti gained 2.90 per cent at Rs 514.55.
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CMC
cut-off price: Rs 460.75 for retail investors
New Delhi: The Government on Monday finalised an
offer price of Rs 485 per share for the public issue of
its residual equity in CMC Ltd. The retail investors would
be allotted shares at Rs 460.75 per share, a five per
cent discount to the final offer price of Rs 485 per share,
the Disinvestment Ministry announced in a statement here.
The public offer was oversubscribed by 11.3 times.
Out
of the total offer, 50 per cent of the shares would be
allocated to retail and non-institutional investors, while
the balance 50 per cent would be given to qualified institutional
buyers.
Out of the 50 per cent shares being allotted to retail
and non-institutional investors, 25 per cent would be
allotted to retail investors bidding for amounts up to
Rs 50,000 while another 25 per cent would be given to
retail investors bidding for amounts upwards of Rs 50,000.
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MF
investors will have to provide PAN
Mumbai: The Securities and Exchange Board of India
has announced that investors in mutual funds would be
required to mention their permanent account numbers (PAN)
for all applications over Rs 50,000.
In case an investor has not been allotted a PAN number,
the GIR number and the income-tax circle, ward or district
should be mentioned. In case where neither the PAN nor
the GIR number has been allotted, the fact of non-allotment
should be mentioned in the application form.
Any application form without these details would not be
accepted by mutual fund companies. The regulator says
that the PAN account requirement is to further strengthen
the `Know-your-client' initiative of mutual funds.
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IBP
and Power Trading Corp. issues oversubscribed
Mumbai: The public offer of IBP has been oversubscribed
2.5 times. The cut off price of IBP issue is likely to
be announced on Tuesday in consultation with the Government.
Among the IPOs that opened on Monday, Power Trading Corporation
issue received excellent response and it was oversubscribed
two times on the first day. The maximum bids were received
at Rs 16, the higher price band for the issue.
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Escorts
MF to issue bonus units on Income Plan
Kolkata: Escorts Income Plan has proposed to issue
bonus units in the ratio of 9:10, the record date for
which has been fixed for March 20. A press note issued
by Escorts MF states that all unit holders of the scheme
as per investment register on the relevant date will be
eligible to receive bonus units. Escorts Income Plan has
chiefly invested in securities issued by various state-owned
corporations. The fund also has limited exposure to Government
securities and instruments issued by FIs like IDBI.
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