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Markets:Sugar,
hotel stocks make gains; HLL, Hindalco down
Mumbai: Halting a five-day losing streak, the key
benchmark indices closed on a positive note on Thursday
with the BSE Sensex closing at 6304.27, up 42.75 from
previous day's close. The Nifty closed higher by 12 points
at 1989.95.
Market Gainers
HDFC, Reliance Industries, State Bank, Infosys, Dhampur
Sugar, Andhra Sugar, Balrampur Chini, Bajaj Hindustan,
Indian Hotels, EIH, Taj GVK, Bharti Tele, Thermax, Phillips
Carbon Black, Bharti Tele, Nirma
Market Losers
Hindustan Lever, Hindalco, Hindustan Lever, Praj Industries,
Videocon International, VSNL
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
315.15 |
+10.00 |
| Bajaj
Auto |
1,030.80 |
+8.95 |
| Bharti
Televentures |
192.75 |
+4.50 |
| BHEL |
666.55 |
+14.60 |
| Cipla |
285.20 |
-3.75 |
| Dr.
Reddys Laboratories |
832.30 |
-2.40 |
| Grasim
Industries |
1,204.10 |
+16.40 |
| Gujarat
Ambuja |
383.65 |
+5.05 |
| HDFC |
777.25 |
+22.25 |
| HDFC
Bank |
476.45 |
+4.65 |
| Hero
Honda Motors |
488.65 |
-0.65 |
| Hindalco
Industries Limited |
1,300.70 |
-14.05 |
| Hindustan
Petroleum Corp |
381.85 |
+6.75 |
| HLL |
145.95 |
-5.95 |
| ICICI
Bank |
364.00 |
+5.90 |
| Infosys
Technologies |
2,041.10 |
+10.00 |
| ITC |
1,277.40 |
+10.85 |
| Maruti
Udyog |
445.35 |
+19.90 |
| MTNL |
125.90 |
-0.90 |
| ONGC |
830.70 |
-0.35 |
| Ranbaxy
Labs |
1,213.40 |
+10.95 |
| Reliance
Energy |
541.00 |
-7.25 |
| Reliance
Industries |
511.90 |
+4.15 |
| Satyam
Computer Services |
405.30 |
+2.40 |
| State
Bank Of India |
605.35 |
+12.35 |
| Tata
Motors |
489.30 |
+6.05 |
| Tata
Power |
346.90 |
+6.00 |
| TISCO |
319.50 |
+1.30 |
| Wipro |
738.40 |
-0.50 |
| Zee
Telefilms |
159.95 |
-0.65 |
Others
Dhampur Sugar up Rs5.85 at Rs64.8
Indian Hotels up 3 per cent at Rs524.1
Bharti Tele up 2.4 per cent at Rs192.75
Thermax up Rs17.7 at Rs526.1
Phillips Carbon Black up Rs4.95 at Rs81.65
Nirma up Rs.27.25 at Rs.354.1
Videocon International up Rs3.95 at Rs67.15
VSNL down Rs7 at Rs216.65
Majestic Auto Ltd up 9.98 per cent at Rs93.65, at
a 52-week high
Tata Investment up 0.91 per cent at Rs261.85
Tata Finance down 2.28 per cent at Rs51.40
Ind Swift Laboratories up 4.98 per cent at Rs244.30,
at a 52-week high
Ind Swift Ltd up 9.99 per cent at Rs323.60, at a new
52-week high
Kanoria Chemicals stock up 10 per cent at Rs92.40
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SEBI
amends listing terms of SEs
Mumbai: The Securities and Exchange Board of India
(SEBI) has amended the listing agreement terms in order
to protect the interest of investors and also to promote
and to regulate the securities market.
Now, the listed companies, whose stocks are available
for derivatives contracts or were part of index with derivatives,
should give a 30-day notice for corporate actions such
as merger, de-mergers, splits and bonus shares.
SEBI has amended Clause 16 of the equity listing agreement
to incorporate this change, according to the information
published on the SEBI Web site.
The SEBI's Advisory Committee on Derivatives and Market
Risk Management has noted that the existing requirement
for stock exchanges to give notice of six weeks to the
market for any change in the contract specifications (and
also in case of a change in a constituent of an index
on which derivatives are available), is too long and it
may be reduced to four weeks, said the release.
Stock exchanges have been advised to implement this with
immediate effect.
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Offshore
India funds from Deutsche Asset
Kolkata: Deutsche Asset Management has launched
offshore India funds targeted at investors in Singapore
and Japan. The move has been facilitated with the granting
of an investment advisory approval to the Deutsche Asset
Management (India) by the SEBI.
The advisory approval allows the Mumbai-based Indian equity
team to provide research recommendations, model portfolios
and inputs on sectors and broader economy to the Singapore-authorised
Deutsche India Equity Fund. The latter is managed by the
Deutsche Asset Management (Asia) Ltd in Singapore.
"The popularity of India funds for Japanese investors
is set to grow following the recent success of China funds
in that country," said a release issued by the asset
management firm. It added that investors are looking to
diversify in emerging markets and the BRIC (Brazil, Russia,
India and China) countries. The release says that the
BRIC nations are being particularly viewed as having strong
growth potential.
Deutsche Asset Management has also said that the Deutsche
India Equity Fund, which is available to retail and institutional
investors in Singapore, will also form the main component
of the new Deutsche India Stock Fund targeted at Japanese
retail investors. The Deutsche India Stock Fund is a fund
of funds (FoF) established in Japan. It seeks to achieve
medium- to long-term capital gains mainly through exposure
to Indian equities.
In another development, Deutsche Asset Management in Japan
has been named as investment manager of the UFJ Partners
Deutsche India Stock Fund. This open-ended FoF will be
offered to Japanese investors via UFJ Tsubasa Securities.
It will allocate a large slice of its assets to Deutsche
India Equity Fund.
Deutsche MF manages a number of funds, including the flagship
Deutsche Alpha Equity Fund. Deutsche Asset Management
is one of the largest fund houses in the world. It manages
30 billion euros (as of end-October 2004) on behalf of
institutional and retail clients in the Asia-Pacific.
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Birla
Mutual plans fixed maturity schemes
Mumbai: The Birla Sun Life Mutual Fund has filed
offer documents for two of its fixed maturity plans, Series
A and Series B, with the Securities and Exchange Board
of India.
The investment objective of the schemes is to seek to
achieve growth of capital by investing in a portfolio
of fixed income securities maturing normally in line with
the duration of the schemes, according to the offer document.
The corpus of the scheme will be invested in high quality
debt and money market instruments. The schemes, both growth
and dividend plans, are expected to open this month.
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Satyam
to issue sponsored ADS
Hyderabad: Satyam Computer Services has announced
plans to issue sponsored American Depository Shares (ADS)
against existing equity shares of the company expected
to be valued at $360 million.
The board of directors has decided that the size of the
sponsored ADS issue should not exceed 30 million equity
shares (equivalent to 15 million ADSs) including green
shoe option, if any. This issue would amount to $360 million
based on the closing price of ADS on the NYSE as of December
7. An extraordinary general meeting has been convened
on January 7, to pursue this issue.
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Nasdaq
keen to attract Indian companies
Hyderabad: Nasdaq, which has captured over 83 per
cent of the US IPOs market, is now keen on attracting
Indian companies to its platform in order to raise funds
in the US market.
According to the Nasdaq officials, the exchange finds
potential for US listings in over a 100 Indian companies,
keeping in mind their US-GAAP reporting practices.
The officials said that they expect about 5-10 listings
from Indian companies in the next 12 to 18 months. These
companies could be from pharmaceuticals, biotechnology
and information technology. Currently, Nasdaq has a total
of 3,296 companies listed on it, of which 65 companies
belonged to the Asia Pacific Region.
According to the offials, Nasdaq has become the preferred
stock exchange for international companies on account
of its superior market structure that provides greater
support and more efficient trading platform.
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Bharati
Shipyard IPO oversubscribed seventy eight times
Mumbai: The initial public offering of Bharati
Shipyard Ltd has been subscribed 77.8 times. While the
portion allotted to qualified institutional buyers was
oversubscribed 22.39 times, non-institutional bidders'
share was oversubscribed by 222.47 times. Retail investors
bid for 77.07 times more than their share, a news release
said here.
Bharati Shipyard entered the capital markets on December
2 with a public issue of 1.25 crore equity shares of face
value Rs10 each at a price band of Rs55-66 per share through
the book building process.
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Zodiac
Clothing makes preferential allotment
Mumbai: Zodiac Clothing Company Ltd has informed
the Bombay Stock Exchange that the board-constituted committee
of board of directors has approved the allotment of one
lakh equity shares to Matterhorn Ventures, three lakh
equity shares to Reliance Energy Investments Pvt Ltd and
3.5 lakh shares to India Capital Fund at a nominal value
of Rs10 each, price share being Rs400 per share.
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Videocon
board approves amalgamation scheme
Mumbai: Videocon Industries Ltd has informed the
BSE that its board of directors has approved the scheme
of amalgamation of Petrocon India Ltd with the company
and the valuation of the shares together with the exchange
ratio determined and recommended by the valuers.
The company has further informed that the exchange ratio
has been proposed as five shares of the company for every
two shares held in Petrocon India.
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