Markets: Rally continues
Mumbai: The Sensex crossed the 5100-mark, ending the trading session at 5118 points, 45 points or 0.88 per cent higher than the previous closing of 5073.34 points. The S&P CNX Nifty closed the day higher by 16 points at 1618.

Market Gainers
ITC, Reliance, Tata Steel, Tata Motors, HPCL, Bongaigaon Refinery, BPCL, IOC, Chennai Petrochemicals, HPCL, Kochi Refineries, ONGC, Maruti Udyog, Tata Motors, Raymond, Reliance

Market Losers
Global Trust Bank, Centurion bank, IDBI bank, ING Vysya Bank, J&K Bank

Market Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
ACC 239.90 +4.60
Bajaj Auto 832.95 +1.10
Bharti Televentures 150.55 -1.80
BHEL 551.75 +0.70
Cipla 239.95 -0.55
Dr. Reddys Laboratories 760.05 +4.55
Grasim Industries 986.90 +3.20
Gujarat Ambuja 276.55 +4.45
HDFC 590.95 -6.25
HDFC Bank 371.65 +2.05
Hero Honda Motors 442.20 +1.80
Hindalco Industries Limited 1,058.90 +4.70
Hindustan Petroleum Corp 309.30 +9.30
HLL 120.15 -0.10
ICICI Bank 257.30 -3.90
Infosys Technologies 1,458.75 +4.00
ITC 1,052.55 +52.55
Larsen & Toubro Limited 792.80 +26.25
Maruti Udyog 431.35 +5.85
MTNL 133.85 -2.60
ONGC 709.70 +10.95
Ranbaxy Labs 962.65 -0.85
Reliance Energy 588.35 -1.70
Reliance Industries 477.60 +11.40
Satyam Computer Services 328.05 -1.10
State Bank Of India 469.55 +5.20
Tata Motors 418.70 +9.80
Tata Power 268.80 -5.80
TISCO 373.90 +9.95
Wipro 523.85 -5.40
Zee Telefilms 143.20 +3.65

Others
Oriental bank of Commerce up1.65 per cent at Rs 267.20
Federal Bank down Rs 2 at Rs 305.95
Dabur up Rs 1.15 at Rs 71.15
Indian Oil Corporation (IOC) up 6.15 per cent at Rs 382.90
MTNL down 1.91 per cent at Rs 133.85
Dredging Corporation up around 2.5 per cent at Rs 410.75
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Oriental Bank to gain from merger with GTB
Mumbai: The merger of GTB and OBC without a swap ratio for shares implies that current GTB shareholders will be left with zero value for their investments. The OBC scrip opened at Rs 262.85 and touched a high of Rs 283 during the day, before closing at Rs 267.20 on the BSE. The share has appreciated by nearly 17 per cent since the beginning of this month.

As per reports the GTB scrip would be put in the trade-to-trade segment by the SEBI. The BSE and the NSE have confirmed the same. The scrip is currently quoted at Rs 10.54. Computerisation and a wide network of automatic teller machines are areas that OBC is lagging behind in. GTB's latest computer systems and wide coverage of ATMs would help OBC jumpstart its own efforts to introduce cutting edge banking technology and solutions.
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No impact of exposure not covered by collaterals in GTB
Mumbai: The Securities and Exchange Board of India (SEBI) said that it has reviewed the likely implications of the moratorium imposed on GTB, with stock exchanges and depositories and has taken appropriate precautionary steps. SEBI also said that exposure not covered by collaterals placed in the Global Trust Bank (GTB), post RBI's moratorium, will not create any adverse impact and there will not be any need to deactivate trading terminals.

Amount of bank guarantees and fixed deposits of GTB furnished by members towards their base minimum capital or additional capital is moderate. Relevant exposure not covered by other collaterals is also not high as to create any adverse impact, according to the statement. The RBI has clarified that operation of demat accounts in GTB will not be affected. The market regulator also warns that the behaviour of trading in the scrip of GTB would be closely watched by the stock exchanges and appropriate surveillance action would be taken.
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ESOPs of listed companies to be under SEBI norms
New Delhi: The Government has said that henceforth, the issuance of employees' stock options by all listed companies in the knowledge-based sectors will be governed by the SEBI (Employee Stock Option and Stock Purchase Scheme) Guidelines, 1999. However, unlisted Indian companies in the knowledge-based sectors will continue to be governed under guidelines issued by Government for issuance of ADR/GDR linked stock options to its employees. The move has been taken in order to rationalise the guidelines governing issuance of stock options by Indian companies, an official release said.
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