Markets: Tax review and quarterly's maintain the momentum
Mumbai: The Sensex ended the day at 4975.40, up 24 points from its previous close of 4951.7. The S&P CNX Nifty was up 13 points, closing at 1571.60, as against its previous close of 1558.80 points.

Market Gainers
ONGC, ICICI Bank, ICICI Bank, ONGC, Cipla, Zee Telefilms, Canara bank, UCO Bank, Andhra Bank, Global Trust Bank, Allahabad Bank, SAIL, Essar Steel, Jindal Vijayanagar, Tata Steel, Apollo Tyres, Allahabad Bank, National Fertilisers, CMC, Syndicate Bank, Alstom Projects

Market Losers
IPCL, ACC, HDFC, HDFC Bank, Hindalco, Hero Honda

Market Counters
Figures in Rupees
Gain (+) / Loss (-)

ACC	233.05	-0.10
Bajaj Auto	853.65	+0.20
Bharti Televentures	151.40	+1.35
BHEL	538.95	-0.35
Cipla	239.50	+5.85
Dr. Reddys Laboratories	764.30	+12.25
Grasim Industries	967.15	+8.70
Gujarat Ambuja	280.35	+4.10
HDFC	550.00	-0.50
HDFC Bank	365.90	-1.15
Hero Honda Motors	451.75	-10.40
Hindalco Industries Limited	1,079.05	-9.85
Hindustan Petroleum Corp	288.30	-0.15
HLL	122.50	-1.05
ICICI Bank	253.15	+8.15
Infosys Technologies	1,478.95	+1.00
ITC	1,015.25	-9.25
Larsen & Toubro Limited	766.55	+8.90
Maruti Udyog	425.55	+0.40
MTNL	130.70	+0.20
ONGC	697.35	+29.30
Ranbaxy Labs	972.45	+3.90
Reliance Energy	570.85	+1.50
Reliance Industries	423.50	-0.95
Satyam Computer Services	330.85	+1.65
State Bank Of India	439.70	+0.15
Tata Motors	407.65	-6.05
Tata Power	257.60	+0.60
TISCO	345.50	+6.65
Wipro	528.70	+2.70
Zee Telefilms	132.50	+5.95

Others
ONGC up 4.39 per cent at Rs 697.35
CMC up Rs 36 at Rs 514.85
Allahabad bank up Rs 2.45 at Rs 40.05
National Fertilisers up 3.5 per cent at Rs 39.45
Apollo Tyres up Rs 2.25 at Rs 180.65
Cadila Healthcare down Rs 10 at Rs 465
MRPL up by 2.2 per cent at Rs 45.85
Adlabs up 11.70 per cent at Rs 89.25
SREI International Finance up 18.18 per cent at Rs 21.45
BPL up 19.46 per cent at Rs 42.05
HFCL up 20 per cent at Rs 10.51
Back to News Review index page  

Transaction Tax: Chidambaram will 'revisit the numbers'
New Delhi: The Finance Minister, P. Chidambaram, has said that he would be "revisiting the numbers" with regard to the 0.15 per cent transaction tax on securities, as proposed in the Union Budget, though he did not commit himself to an outright withdrawal of tax. He maintained that transaction tax was neat, easy and eliminated tax avoidance. The minister was intervening during the discussion on the Budget in the Rajya Sabha.
Back to News Review index page  

Margins: SEBI may offer choice of payment
Mumbai: The Securities and Exchange Board of India may offer a choice of payment of market margin/settlements either before or during trading, the next day with the proviso that if payment were not made before trading the next day, higher initial margin would be collected from the members. In order to align the collateral requirements in the cash market and the derivative market, the SEBI has decided that units of money market mutual funds and units of gilt funds may be accepted towards cash equivalent component of the liquid assets of a clearing member.
Back to News Review index page  

Tata Consultancy Services files prospectus for IPO
Mumbai: Software major Tata Consultancy Services, which filed an Initial Public Offer (IPO) prospectus with Registrar of Companies (RoC) today, has fixed its price band for the bidding between Rs 775-900 per share. The issue will open on July 29, 2004, and close on August 5. The Tata group company is to offer 5.54 crore equity shares of Re one each, with a greenshoe option.

The issue consists of a fresh issue of 2.27 crore shares and an offer-for-sale of 3.26 crore by Tata Sons Ltd and certain other shareholders of TCS. The IPO would consist of 4.99 crore shares which includes 2.99 crore to Qualified Institutional Bidders (QIB), 74.86 lakh to non-institutional bidders (high networth individuals) and 12.47 lakh to retail bidders, according to the draft prospectus filed with SEBI. The company has reserved 55.45 lakh shares for employees of TCS Division, TCS Ltd and Tata Sons.
Back to News Review index page