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Sensex
rises 71 pts as FIIs return
Mumbai:
Bottom-fishing and short-covering on Friday week helped
Sensex gain 71 points to 4,889 while the 50-share S&P
CNX Nifty vaulted 26 points to close at 1,521.10.
On
the whole the Sensex gained 53.61 points in the week.
Dealers attributed the fall in international crude oil
prices to below $40 per barrel after Opec decided to hike
output from July, steady-to-firm Asian markets and renewed
buying from foreign institutional investors (FIIs) boosted
the market sentiment.
Analysts
said the bouyancy was due to some of Finance Minister
Chidambaram's statements to the effect that the reform
process would continue and that interest rates will remain
soft. The markets are also comforted by the fact that
there would be no runaway deficit and there will be fiscal
prudence.
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NTPC
IPO receives SEBI approval
Chennai: The public offer of shares by National
Thermal Power Corporation (NTPC) is on track and is likely
to hit the market by end-July or early-August.
However,
against the earlier planned 10 per cent offering, the
company will now offer only 5 per cent of its shares in
the market. NTPC has a large equity base of Rs 7,812.50
crore.
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3
Indian companies to list in Singapore
stock exchange
Mumbai: The Singapore Stock Exchange officials
who are visiting the country to woo corporates to list
on their exchange have said that three Indian companies
are readying to list on the SGX.
The
companies include Ballarpur Industries Ltd (BILT), an
Ahmedabad-based IT services company not listed in the
Indian markets and a leading Mumbai-based textiles company
already listed in the Indian exchanges.
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Canbank
Mutual starts investment in derivatives
Mangalore: Canbank Mutual Fund has started investment
in derivatives products under its Canexpo, Canequity Tax
Saver, Canequity Diversified, Canbonus, Cantriple, Canganga,
Canpremium, Cancigo and Canglobal schemes with effect
from June 1.
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