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Markets: Dunks fifteen in choppy trade
Mumbai: The 30-stock index fell 15.33 points (0.28 per cent) to close at 5545.82 points. On the NSE, the 50-stock S&P CNX Nifty fell by 0.28 per cent to close at 1728.8 points.

Market Gainers
ITC, ICICI Bank, Bharat Electronics, Chennai Petroleum, Engineers India, HPCL, Birla Ericsson, IFCI, Eimco Elecon, IFGL Refractories, Ind-Swift Labs, SAIL, Tata Steel, Essar Steel, Jindal Vijayanagar, JK Synthetic, Welspun Gujarat, India Acrylics, Satyam Computer, Tata Teleservices, State Bank of India, Arvind Mills

Market Losers
Reliance Industries, Infosys Technologies, Grasim Industries, Maruti Udyog, Wipro, Majestic Auto, TTK Prestige, Kalyani Forge, Indian Overseas Bank, Praj Industries, TCS, Satyam

Market Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)

ACC 273.30 -0.30
Bajaj Auto 944.20 +4.55
Bharti Televentures 148.00 -1.60
BHEL 593.05 +3.60
Cipla 275.40 +5.15
Dr. Reddys Laboratories 750.20 -8.50
Grasim Industries 1,169.60 -24.80
Gujarat Ambuja 343.70 +0.15
HDFC 615.00 -2.45
HDFC Bank 405.85 +3.40
Hero Honda Motors 452.85 -5.20
Hindalco Industries Limited 1,250.30 +15.55
Hindustan Petroleum Corp 333.25 +5.50
HLL 125.30 -0.45
ICICI Bank 278.80 +3.80
Infosys Technologies 1,657.55 -31.45
ITC 1,185.20 +11.10
Maruti Udyog 350.80 -7.20
MTNL 125.60 -2.45
ONGC 752.05 +5.65
Ranbaxy Labs 1,081.15 -1.10
Reliance Energy 632.90 -2.50
Reliance Industries 501.70 -7.55
Satyam Computer Services 376.20 -4.25
State Bank Of India 477.35 -3.15
Tata Motors 411.35 +5.60
Tata Power 305.05 +2.40
TISCO 284.50 +5.00
Wipro 580.70 -11.60
Zee Telefilms 153.80 -2.80

Others
Aztec Software up 12.2 per cent at Rs52.45
Wockhart up 2.7 per cent at Rs.332.8
Samtel Color up 2.6 per cent at Rs65.45
Varun Shipping up 3.4 per cent at Rs25.9
Gujarat Borosil The stock fell by three per cent at Rs9.44.
Rama Newsprint & Papers The stock fell by 4.2 per cent to Rs.11.37
IFCI up 15.78 per cent at Rs10.27
Vindhya Telelink up 9.26 per cent at Rs41.90
Aksh Opticfibre up 8.94 per cent at Rs20.10
Sterlite Optical up 2.11 per cent at Rs58
Finolex Cables up 2.76 per cent at Rs136.05
Surana Tele up 3.95 per cent at Rs47.35
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SEBI debars Top Line Shoes and Directors
Mumbai: The Securities and Exchange Board of India (SEBI) has debarred Top Line Shoes Ltd and its Directors, H.M.B. Murthy and H.M.G. Murthy, from accessing the securities market for a period of five years. The public companies in which the directors hold controlling or substantial interest are also not allowed to raise funds from the capital market for a period of five years, according to the order.

The company, which made a public offer of 46.5 lakh shares of Rs.10 each, is now not physically traceable at its registered office address at Vadodara, and has also not been complying with the listing agreement, according to the order.

With respect to the former directors of the company, Duleep Singh, Sunil M Gavaskar, Vinod B. Mistry and Arun L. Kapani, the order noted that while they were directors of Top Line Shoes, the company had filed balance sheets and otherwise complied with requirements of the listing agreement and since they are no longer directors of the company, they are not responsible for the conduct of the company.

In a similar order, SEBI has also debarred Nuline Glassware Ltd (now known as Pur Opale Creation Ltd) and its Directors - Jayesh Dave, Anjali Dave, Jagdish Chandra Dave, Madhuben Dave, Rohit Vyas, Himanshu Desai, Kamlesh Mankodi and Umesh Soni - from accessing the securities market for five years. This company is also not physically traceable and is not complying with the listing agreement.

The company had made a public offer of 67.79 lakh shares of Rs.10 per unit in December 1992.
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Media and entertainment fund from Reliance Mutual
Mumbai: Reliance Mutual Fund is launching an open-ended equity fund that will invest in scrips in the Indian media and entertainment industry, according to a company press release.

Reliance Media and Entertainment Fund would invest in equity or fixed income securities of media and entertainment and other associated companies to tap into the growth potential of this sector, says the press release.

The investments will be in segments such as print, television, radio, cinema, outdoor advertising and also emerging genres such as Internet advertising, media portals and companies that provide online content for Internet, mobile, broadband etc.

The initial public offer of the fund is open from September 16-27. Minimum application amount is Rs.10,000. There will be no entry or exit load during the IPO, but an entry load of 2 per cent will be charged during the continuous offer, according to the release.
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domain-B : Indian business : News Review : 21 September 2004 : markets