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Markets:
Testing 6,000 levels for the second straight day
Mumbai: The Sensex put on gains for the second
straight day after crossing the 6,000 level to close
at 6,035.95 points. The Nifty, on Wednesday, closed
above the 1,900 mark after seven months. It gained 11.45
points to close at 1,904.5 points.
Market Gainers
Alok Industries, Arvind Mills, Mahavir Spinning, Nahar
Spinning, Vardhaman Spinning, Deepak Spinning, Hanil
Era Textiles, Soma Textiles, Shiva Tex Yarn, Loyal Textile
Mills, Aarvee Denim. Garden Silk Mills, Lakshmi Mills,
Indo Rama Synthetics, Pantaloon Retail, Indo Rama Textiles,
Raymond, Thermax, Bharat Electronics, Siemens, Esab
India, Shanthi Gears, HMT, LMW, Ingersoll Rand, ABB,
BEL, Kotak Mahindra Bank, Philips Carbon Black, Sundaram
Clayton, Thomas Cook Tube Investments, Ultramarine Pigments,
West Coast Paper, Berger Paints, Ramco Systems, Avery
India, SRF, Archie's, India Gelatine, Dabur Pharma,
Walchandnagar, Dhampur Invertors, Precision Electric,
PSI Data Systems, Asian Hotels, McDowell
Market Losers
Reliance Capital, Reliance Energy, Reliance Industries
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
287.60 |
| Bajaj
Auto |
1,000.35 |
| Bharti
Televentures |
164.55 |
| BHEL |
617.25 |
| Cipla |
269.25 |
| Dr.
Reddys Laboratories |
794.50 |
| Grasim
Industries |
1,133.55 |
| Gujarat
Ambuja |
367.75 |
| HDFC |
751.65 |
| HDFC
Bank |
483.50 |
| Hero
Honda Motors |
446.50 |
| Hindalco
Industries Limited |
1,287.35 |
| Hindustan
Petroleum Corp |
343.35 |
| HLL |
132.90 |
| ICICI
Bank |
326.40 |
| Infosys
Technologies |
2,023.25 |
| ITC |
1,254.45 |
| Maruti
Udyog |
395.85 |
| MTNL |
125.90 |
| ONGC |
810.15 |
| Ranbaxy
Labs |
1,065.60 |
| Reliance
Energy |
583.10 |
| Reliance
Industries |
515.00 |
| Satyam
Computer Services |
425.65 |
| State
Bank Of India |
517.90 |
| Tata
Motors |
457.35 |
| Tata
Power |
339.65 |
| TISCO |
312.50 |
| Wipro |
715.10 |
| Zee
Telefilms |
157.60 |
Others
Timex up 5 per cent at Rs14.1
Indian Card Clothing down Rs2 at Rs185
S.A.L Steel (SAL) listed at Rs23.50 and closed
at Rs19.50.
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Dwarikesh
Sugar IPO to raise Rs.32.5 crore
Mumbai: Dwarikesh Sugar Industries Ltd, promoted
by G.R. Morarka is entering the capital market with
public offer of 50 lakh equity shares of Rs10 each at
a premium of Rs55 per share aggregating Rs32.50 crore.
The public issue will open for subscription on November
29 and close on December 3.
The company is setting up a 30 kilolitres per day (KLPD)
distillery for the manufacture of industrial alcohol
and a 200-tpd sugar refinery with packaging facilities.
The company is also adding balancing equipments to the
current plant to increase the capacity utilisation to
85 per cent.
The company currently generates 29,398 tonnes of molasses.
The company is in the process of setting up of 30 KLPD
distilleries for the manufacture of industrial alcohol
at the present location. The company would use molasses
to produce 30,000 litres of spirit everyday and convert
the same into 28,300 litres of industrial alcohol also
known as ethanol.
The total capital expenditure for these projects is
Rs38.50 crore, which is to be funded by the public issue
of Rs32.50 crore and a term loan of Rs6 crore.
The company's board of directors include Suresh Neotia,
Chairman of Gujarat Ambuja Cement; Vivek Saraogi, Managing
Director of Balrampur Chini Mills; and M.G. Diwan, former
Chairman and Managing Director of LIC of India. The
company operates a 6,500-TCD sugar plant at Bijnor in
the sugar rich belt of UP and co-generates 9-MW of power.
The company's sugar is recognised in the market by the
name `Bundki' and `Dwarikesh'.
The company's profit for FY 2004 has grown to Rs9.76
crore (after providing for Rs6.27 crore towards price
differential between SMP & SAP for earlier years)
against Rs2.06 crore in FY 2003.
Post-public issue, the paid-up capital of the company
will be Rs12.56 crore and net worth will be Rs70.37
crore.
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Jet
Airways to go public shortly
New Delhi: Jet Airways plans to go public shortly
with an initial public offering (IPO). The finer details
of the IPO are expected to be finalised in the next
two to three weeks, the airline Chairman, Naresh Goyal
indicated on Wednesday.
The proceeds from the IPO are to be used to further
improve the airline's balance sheet, the debt- equity
ratio, as also fund the future plans. Jet also plans
to induct some more Boeing 737-800 aircraft in a phased
manner to increase its domestic services.
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New
bill to replace securities laws ordinance
New Delhi: The Union Cabinet has approved a Bill
to replace the Securities Laws (Amendment) Ordinance
2004. The Bill would be introduced in the Winter Session
of Parliament.
Through this ordinance, the Government has taken necessary
steps to implement a proposal for creating an appropriate
trading platform for small and medium companies.
In Budget 2004-05, the Finance Minister, P. Chidambaram,
had announced the Government's intention to create an
appropriate trading platform for small and mid-cap companies.
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