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Markets:
Life at 6,000
Mumbai: The BSE Sensex made gained 46.06 points
(or 0.77 per cent) to close the day at 6,009.86 points.
The S&P CNX Nifty recorded a gain of 19.25 points
(or 1.03 per cent) to close the day at 1,892.60 points.
Market Gainers
Infosys Technologies, Reliance Industries, ICICI Bank,
ITC, ONGC Corporation, HDFC, Sun Pharma, ITC, ABB, Colgate,
Tata Power, GE Shipping, Ashok Leyland, Jindal Vijayanagar
Steel, UTI Bank, IFCI
Market Losers
Hindustan Lever, IPCL, Reliance Energy, Hero Honda,
Bank of India, IOB, Ingersoll Rand, Asian Paints, Nicholas
Piramal, SBI Home Finance, ITI, Clutch Auto, GIC Housing,
Tata Metalik, Asian Electronics
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
284.50 |
+7.85 |
| Bajaj
Auto |
991.10 |
+5.30 |
| Bharti
Televentures |
164.05 |
+2.75 |
| BHEL |
617.70 |
+6.60 |
| Cipla |
267.35 |
+5.30 |
| Dr.
Reddys Laboratories |
791.10 |
+4.55 |
| Grasim
Industries |
1,125.10 |
+14.85 |
| Gujarat
Ambuja |
363.70 |
+5.20 |
| HDFC |
729.30 |
+3.00 |
| HDFC
Bank |
486.80 |
+3.40 |
| Hero
Honda Motors |
439.05 |
-3.80 |
| Hindalco
Industries Limited |
1,283.95 |
+8.55 |
| Hindustan
Petroleum Corp |
339.75 |
+3.25 |
| HLL |
130.20 |
-1.80 |
| ICICI
Bank |
325.40 |
+2.55 |
| Infosys
Technologies |
2,030.75 |
+4.40 |
| ITC |
1,192.30 |
+46.80 |
| Maruti
Udyog |
386.90 |
+9.20 |
| MTNL |
125.90 |
-0.90 |
| ONGC |
803.25 |
+12.75 |
| Ranbaxy
Labs |
1,060.70 |
+7.10 |
| Reliance
Energy |
598.15 |
-7.40 |
| Reliance
Industries |
528.30 |
-4.50 |
| Satyam
Computer Services |
427.45 |
+7.90 |
| State
Bank Of India |
516.20 |
+1.85 |
| Tata
Motors |
444.60 |
+13.10 |
| Tata
Power |
345.35 |
+9.40 |
| TISCO |
311.60 |
+1.45 |
| Wipro |
715.25 |
+5.10 |
| Zee
Telefilms |
161.20 |
+4.10 |
Others
RS Software hit the upper circuit closing at
Rs31.50
KLG Systel up 9.96 per cent at Rs 107.60
Prism Cements up Rs1.93 at Rs 15.06
Ispat Industries up Rs1.48 at Rs 17.57
Amtek Auto up Rs7.65 at Rs184
Reliance Capital down Rs2.20 at Rs143.05.
Reliance Industrial Infrastructure Ltd down Rs4.65
at Rs79.50
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Reliance
director Bhakta resigns -CMD Mukesh says he's the final
authority
Mumbai: The Reliance controversy took a fresh
turn with the Chairman and Managing Director of Reliance
Industries Ltd, Mukesh Ambani, e-mailing his 80,000
employees a statement that employees of the Reliance
group, he said: "Our Founder Chairman Dhirubhai
Ambani had taken all necessary steps to separate ownership
from management and has settled all of them within his
lifetime. There is no ambiguity in his legacy that the
Chairman-and-Managing-Director is the final authority
on all matters concerning Reliance."
The reference to the 'Chairman and Managing Director'
is understandably to himself. The day was also marked
by the resignation of M.L. Bhakta as Director on the
board of Reliance Industries, a position he has held
for the last 27 years.
No reason was attributed to the resignation of Mr Bhakta,
who is a partner with solicitors Kanga & Co.
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Cholamandalam
AMC to launch dividend yield scheme
Mumbai: Cholamandalam AMC Ltd has filed an offer
document for launching its Dividend Yield Fund with
Securities and Exchange Board of India.
According to the offer document, Chola's open-ended
equity fund seeks to provide capital appreciation income
by investing predominantly in equity and equity-related
securities of a well-diversified portfolio of companies
that have a relatively high dividend yield.
The fund would invest 80-100 per cent of its corpus
in equity and equity-related instruments and up to 20
per cent in cash and money market instruments.
Entry load of two per cent is charged on investments
of less than Rs25 lakh and 2 per cent exit load is also
charged for redemptions within a year through the systematic
investment and transfer plans.
The issue is priced at Rs10 per unit and the minimum
investment amount is Rs5,000, says the offer document.
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Bharati
Shipyard IPO price band fixed at Rs55-66
Mumbai: Bharati Shipyard Ltd, one of India's
leading shipyards in the private sector, is entering
the capital market on December 2 with an IPO of 1.25
crore equity shares of face value Rs10 each at a price
band of Rs55 to Rs66 per share through 100 per cent
book-building route.
The issue, which will constitute 55.56 per cent of the
fully diluted post-issue paid-up capital of the company,
is to part finance its Rs65-crore expansion programme.
The expansion project includes increasing its shipbuilding
capacity from the present 9,000 DWT to 25,000 DWT and
construction of a new jetty.
Out of the present issue, 10 per cent of the shares
are reserved for allotment to permanent employees of
the company, 50 per cent for allocation to qualified
institutional buyers on discretionary basis, 25 per
cent for non-institutional bidders and 25 per cent for
retail individual bidders.
The company had notched up an income and net profit
of Rs121.70 crore and Rs5.9 crore respectively in the
last fiscal.
In the first six months of the current fiscal, the company's
income was Rs98.90 crore and net profit Rs14.4 crore,
the increase being mainly due to the surge in shipbuilding
market as a result of the buoyant freight market.
The company was in the business of building tugs, offshore
vessels, cargo vessels and bitumen tankers. Its top-drawer
clients include Great Eastern Shipping, Halul Offshore
Services, Reliance Industries, Tartous Port Trust and
Al Jabar Shipping Establishment.
"Our current order book consists of 12 vessels
valued at a total of Rs 422.60 crore. We expect to increase
our flow of orders in the coming months due to buoyancy
in the market," he pointed out.
Mr Kapoor said the company was in the process of acquiring
Pinky Shipyard Ltd at Goa, which was expected to be
wrapped up within a month.
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