Sensex comes up for breath
The Sensex ended at 5414.44, up 19 points from Wednesday's closing of 5395.28 points. The Nifty gained 12 points to close at 1704.45, up from 1692.10 points.
BSE Gainers
Tata Steel, Tata Power, Bharti Tele, Tata Motors, SBI, Neyveli Lignite, Ahmedabad Electric, SAIL, Essar Steel, Mahindra & Mahindra, TVS Motor, Eicher Motors, Ashok Leyland, Bank of Baroda, Indian Overseas Bank, Vijaya Bank, Punjab National Bank, Dena Bank and Infosys
BSE losers
Cipla, Hindalco, ICICI Bank, Ranbaxy, Bajaj Auto, Reliance Energy and Hindustan Lever
BSE Counters
Bharti Tele-Ventures put on Rs6.35 to close at Rs145.45
Tata Power gained Rs13.35 to close at Rs359.55
Tata Steel appreciated by Rs15.5 to close at Rs371.75
Tata Motors rose by Rs13.75 to end the day at Rs453.10
Maruti Udyog closed higher by Rs31.2 at Rs482.8
Indian Overseas Bank touched a new high at Rs54.25
Henkel Spic declined by Rs1.20 to close at Rs12
Polaris Software declined by Rs9.15
Cipla declined by Rs46.4 to close at Rs1, 127
Texmaco appreciated by Rs2.7 to close at Rs77.80
Elder Pharma gained Rs1.45 to close at Rs109.35
Polaris Software Lab closed higher at Rs191.6
GE Shipping, closed nearly 13 per cent higher at Rs124.65
Kochi Refineries Ltd closed marginally higher at Rs181.55
Jyoti Structures up 3.58 per cent ending the day at Rs.76.65
Radico Khaitan closed at a high of Rs104 on the BSE
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ING Vysya's Radiant India Fund set to roll
Kolkata: ING Vysya MF has lined up an equity scheme with the broad-based BSE100 as its benchmark index. It will focus on businesses that derive value from within the country. The offer document sent by the MF to SEBI for approval refers to "long-term investment themes centred around taking advantage of the growth opportunities in the Indian economy."

The fund, may also use derivatives to protect the interests of unit-holders. The indicative asset allocation is: 80-100 per cent in equities and 0-20 percent in cash and money market instruments.
ING Vysya MF's diversified growth schemes now include ING Vysya Equity and ING Vysya Select Stocks as well as the newly-launched ING Vysya Nifty Plus.
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Satnam Overseas hikes FII cap to 51 per cent
New Delhi: Foreign institutional investors (FIIs) and Non-Resident Indians (NRIs) have been allowed to acquire up to 51 per cent holding in Satnam Overseas Ltd (SOL), a leading basmati rice exporter. This is as against the existing 24 per cent permitted investment limit for FIIs/NRIs/OCBs in the paid-up capital of the company.
For the year ending March 31, 2003, SOL recorded a profit after tax of Rs 9.49 crore on sales of Rs 453.90 crore.
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SEBI extends ban on GTB promoters
Mumbai: The Securities and Exchange Board of India has extended the ban on the promoters of Global Trust Bank from dealing in the GTB scrip till June 30. This ruling takes the total duration of the ban to 18 months. The ban also extends to the associate entities - Anjanaya Traders Pvt Ltd, Chiranjeevi Traders Pvt Ltd, Gajanan Financial Services Pvt Ltd, Gajmukh Investments Pvt Ltd, Kadrish Finance & Investments Pvt Ltd and Bombay Mahalakshmi Traders Pvt Ltd. Between November 1999 and February 2000, the promoters and associate entities sold about 1.31 crore shares on National Stock Exchange and Bombay Stock Exchange which were picked up by Ketan Parekh (KP) entities. The promoters clarified to SEBI that they were not aware of who was buying the shares.

However, the SEBI Chairman noted in the ruling that " The number of instances quoted invariably suggest that there is a prior understanding of buying and selling between the sellers and buyers. The preponderance of the probability that can be drawn is that these are synchronized and structured deals." GTB also had extended loans of over Rs 200 crore to Ketan Parekh during this period. The entities had clarified that the loan transactions were genuine, and SEBI has accepted the same, saying that the transactions were technically correct.
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