Sensex:
The BSE Sensex appreciated by 19 points to close at 5842.20 points while the Nifty gained 7 points to close at 1860.40 points.
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Counters:
Tata Steel closed higher by Rs 4.25 to Rs 440.60.
Bajaj Auto gained Rs 31.4 to close at Rs 960.40.
TVS Motor was marginally lower at Rs 103.55.
Tata Motors gained by Rs 13.35 to Rs 536.95.
Hindustan Lever fell by 5.2 per cent to Rs 164.70.
Dr Reddy's gained by Rs 8.85 to Rs 1024.05.
ABB gained by Rs 5.55 to Rs 696.25
Patni closed the day higher by Rs 0.25 at Rs 250.6.
Reliance Energy gained by Rs 25.
Jubilant Organosys gained Rs 52.
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ONGC: Shourie clears issuance of participatory notes
New Delhi: The disinvestment minister, Arun Shourie, has said there was no legal hitch in allowing lead managers of the ONGC public offer and their associates to issue participatory notes. Billed as the largest-ever public offer in the country's corporate history, the Disinvestment Ministry was of the view that the lead managers and their global contacts could be allowed to issue participatory notes, which are not permitted under the SEBI guidelines.
Participatory notes are offshore derivative instruments issued by foreign institutional investors (FIIs) and their sub-accounts against underlying Indian securities to overseas clients or investors. Last month, SEBI had directed FIIs not to issue participatory notes to unregulated entities from February 3.
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ONGC: Price band is Rs 680-750
New Delhi: The Government has announced a price band of Rs 680-750 per share for sale of a 10 per cent equity constituting 14.26 crore shares in ONGC through a book-built public offer. The retail investors would get a five per cent discount on the final cut-off price while 10 per cent of the public offer has been reserved each for employees/whole-time directors and shareholders of ONGC and its subsidiary MRPL.
The proposed public offer for sale of shares in ONGC will be the largest ever public offer in India's corporate history with the Government targeting a figure of over Rs 10,000 crore from the issue. The public offer will open on March 5 and close on March 13.
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SEBI bars associate of Cyberspace promoters
Mumbai: The Securities and Exchange Board of India has asked Mr Shashikant G. Badani, an associate of the promoters of Cyberspace Ltd, to restrain from buying and selling securities and associate with any corporate body to access capital market for a one-year period for violating regulations.
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Gravity India: To issue 2:1 bonus
Mumbai: Gravity India Ltd has informed the Bombay Stock Exchange that at the meeting of the Board of Directors held on March 1, the board has approved the issue of bonus shares to shareholders, in the ratio of 2:1, that is, 1 bonus shares for every 2 equity shares held, subject to the shareholder approval at the general meeting.
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Canliquid scheme's weekly dividend
Mangalore: The CANLIQUID scheme of Canbank Mutual Fund has declared a weekly dividend of Re 0.0088 per unit (net of tax) on face value of Rs 10 for the week ended March 2. This is the 111th weekly dividend in the Canliquid scheme.
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BSE and FISE propose a national market
Mumbai: The Bombay Stock Exchange (BSE) and the Federation of Indian Stock Exchanges (FISE) on Wednesday submitted a proposal to SEBI for formation of a national market termed `BSE-IndoNext,' a facility for trading and settlement of shares of small- and medium-cap companies listed both at BSE and various regional stock exchanges (RSE).

In a joint statement, BSE and FISE said this was a major capital market initiative, as formation of BSE-IndoNext would help investors throughout the country through enhanced liquidity in their shares of small- and medium-cap companies. It would also rejuvenate the vast network of about 7,000 members of RSEs, who cater to investors in far-flung areas of the country.
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TV18 hits FII buy limit
Mumbai: The Reserve Bank of India has notified that no further purchases of equity shares of Television Eighteen India Ltd (TV18) should be made on behalf of foreign institutional investors. TV18 has reached the trigger limit of 24 per cent of its paid-up capital.
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