Markets: Riding on tech stocks - up 36 points
Mumbai: The BSE Sensex closed at 5713.1, up by 36.37 points over Tuesday's close of 5676.3. The S&P CNX Nifty closed up by 7.85 points at 1794.75.

Market Gainers
Infosys, Wipro, Satyam, TCS, Mercator Lines, Sona Koyo Steering, Indian Oil Corporation, Glenmark Pharmaceuticals.

Market Losers
HDFC, Bharti Tele, Hindalco, Tata Steel, Hindustan Zinc, Sterlite, National Aluminum, G.E. Shipping, Shipping Corporation

Market Counters
TCS up by Rs31.75 at Rs1,116.20
National Aluminium down 6 per cent at Rs169.95
SSI Ltd down 70 per cent at Rs.48.70
G.E. Shipping down Rs7.40 at Rs164
Shipping Corporation down Rs5.90 at Rs169.95
Mercator Lines up 7 per cent at Rs620.60
Sona Koyo Steering up 10 per cent at Rs54.50
Indian Oil Corporation up Rs12.70 at Rs432.05
Glenmark Pharma up Rs21.15 at Rs308.50
Jindal Iron & Steel down 2.03 per cent at Rs260.25
Nalco down 5.87 per cent at Rs169.95
Back to News Review index page  

SEBI fiat on mandatory UIN
Mumbai: The Securities and Exchange Board of India (SEBI) has mandated that all domestic investors who carry out a single transaction of Rs1 lakh or more have to quote their unique identification number (UIN). This order will be effective from April 1, 2005.

Further, foreign institutional investors and their sub-accounts are also required to quote their identification number in all transactions from this date. Foreign venture capital investors also fall under this rule.

The unique identification number is part of SEBI's MAPIN exercise.
Back to News Review index page  

Now a Dividend Yield Fund from Tata MF
Mumbai: The Tata Mutual Fund is launching its Dividend Yield Fund. The open-ended equity fund would invest at least 70 per cent of its net assets in shares with dividend yields higher than those of Sensex, at the time of investment.

The IPO for the scheme will remain open till October 27.The company is looking at a corpus of Rs500 crore. The minimum investment required for the fund is Rs5,000 and carries an entry load of 2.25 per cent for investments less than Rs2 crore.

The fund house has also obtained the necessary regulatory clearances for starting its wealth management services. The service will be launched by the end of November. The minimum investment amount for the service is Rs50 lakh.

Wealth management services will be offered through four different products - conservative, balanced, aggressive and principal protection.
Back to News Review index page  

NTPC issue subscribed 12 times
Mumbai: The National Thermal Power Corporation's initial public offer, was oversubscribed by a dozen times by late evening on the closing date of the issue on Thursday.

According to data available on the Bombay Stock Exchange, by 8 p.m. on Thursday , investors had placed cumulative bids of 1,077.40 crore shares, or 12.44 times the 86.58 crore equity shares available for subscription.

The issue aims to raise around Rs5,360 crore by selling 10.5 per cent equity in the country's largest power generation company. After the IPO, the Government's stake in the company would be reduced to 89.5 per cent.

Institutional investors had, till Thursday evening, subscribed for 16 times more than their allocated 50 per cent share.
Back to News Review index page  

e-GoM panel to determine PSU shares price band
New Delhi: The Government has announced the constitution of an Empowered Group of Ministers (e-GoM) to determine the share price bands of PSUs coming up for disinvestment.

The group will be headed by the Finance Minister, P. Chidambaram.

While the e-GoM would fix the price bands of PSU shares that are slated for public offers, all other things would be referred to the Cabinet Committee on Economic Affairs.
Back to News Review index page