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Markets:
Heavyweights and mid-caps back in the fray
Mumbai: The Sensex clawed its way back by 35 points
to close the trading session at 6268.72, up from its previous
close of 6233.54. The S&P CNX Nifty settled 16 points
above its previous close of 1969, ending the day at 1985.35.
Market
Gainers
Indian Hotels, EIH, Asian Hotels, Oriental Hotels, Jaypee
Hotels, Viceroy Hotels, U.P Hotels, Tourism Finance Corporation
of India, Castrol Indi, GAIL, Kochi Refineries, ONGC,
Madras Cement, India Cement, Gammon India, Madhucon Projects,
IVRCL Infrastructure, Ranbaxy, Tata Honeywell, SAL Steel,
Ind Swift, Four Soft, EID Parry, Dhampur Sugar, Crew B.O.S.
Market
Losers
Hindalco, Dr Reddy's, Thomas Cook, International Travel
House, Zandu Pharma, Dishman Pharmaceuticals, Nicholas
Piramal, GlaxoSmithKline
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
314.30 |
| Bajaj
Auto |
1,020.50 |
| Bharti
Televentures |
190.90 |
| BHEL |
684.85 |
| Cipla |
284.55 |
| Dr.
Reddys Laboratories |
811.90 |
| Grasim
Industries |
1,209.20 |
| Gujarat
Ambuja |
380.05 |
| HDFC |
779.80 |
| HDFC
Bank |
473.40 |
| Hero
Honda Motors |
491.85 |
| Hindalco
Industries Limited |
1,263.65 |
| Hindustan
Petroleum Corp |
373.75 |
| HLL |
143.80 |
| ICICI
Bank |
360.30 |
| Infosys
Technologies |
2,038.15 |
| ITC |
1,267.50 |
| Maruti
Udyog |
436.00 |
| MTNL |
125.90 |
| ONGC |
836.65 |
| Ranbaxy
Labs |
1,215.10 |
| Reliance
Energy |
510.20 |
| Reliance
Industries |
502.10 |
| Satyam
Computer Services |
406.55 |
| State
Bank Of India |
596.40 |
| Tata
Motors |
481.85 |
| Tata
Power |
357.65 |
| TISCO |
323.30 |
| Wipro |
750.00 |
| Zee
Telefilms |
162.15 |
Others
Easun Reyrolle up Rs20.35 at Rs148
Bharat Forge up Rs22 at Rs970.6
Texmaco up Rs9.4 at Rs197.45
United Breweries up 6 per cent at Rs91.55
Williamson Tea up 8.78 per cent at Rs159.15
Bhartiya International up 12.9 per cent at Rs59.90
BOC India up 11.47 per cent at Rs64.65
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Reliance
denies private gain to Mukesh on ONGC and TCS IPOs
Mumbai: Reliance Industries Ltd (RIL) has clarified
that Smart Entrepreneur Solutions Pvt. Ltd and Smart Infosolutions
Pvt Ltd, which were among the top bidders in the ONGC
and TCS public offers, do not belong to its Chairman and
Managing Director, Mukesh Ambani.
It
said the two companies belonged to Reliance Communications
Infrastructure Ltd (RCIL), reportedly the holding company
of Reliance Infocomm. However, Ambani and associates are
said to hold about 55 per cent stake in RCIL, and RIL
the rest.
RIL
issued the clarification regarding the ownership of the
two companies after a newspaper reported that the two
companies belonged to Ambani and that they diverted about
Rs1,600 crore from Reliance Infocomm into the ONGC and
TCS public offers.
The report also alleged that the companies repeatedly
changed their names and registered offices to hide the
money trail. It said the two companies could have made
a killing when the shares listed at a large premium on
the exchanges.
RIL
clarified that RCIL did not borrow from any banks or financial
institutions to provide funds to two of its companies
for subscribing to the IPO. "In fact, RCIL provided
funds from its own sources. It is libelous to say that
the money was diverted from Reliance Infocomm to these
companies," it said in a release.
It
also aid there is no private gain for Mr Ambani and there
is no loss to RIL or its shareholders.
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Birla
Sun Life MF to launch fixed income global fund
Mumbai: Birla Sun Life Mutual Fund is planning
to launch a fixed income global fund. This close- ended
income scheme has a tenure of five years from the date
of allotment.
The
fund seeks to generate regular returns by investing in
a portfolio of fixed income securities and debt instruments
including foreign debt securities, according to its offer
document. The offer document has been filed with Securities
and Exchange Board of India. The scheme will have dividend
and growth options. The minimum application amount is
Rs. one lakh and the asset management company seeks to
raise a targeted Rs5 crore from the fund.
The
fund would invest in foreign debt securities in countries
with fully convertible currencies as permitted under SEBI
Regulations, including through international special purpose
vehicles that enjoy the highest credit rating. The securities
could be listed or unlisted, secured or unsecured, rated
or un-rated and of varying maturity, as enabled under
SEBI and RBI regulations. The securities may be acquired
through Initial Public Offerings (IPOs), secondary market
operations, private placement, rights offers or negotiated
deals, said the offer document.
The
fund could invest up to 35 per cent in money market instruments,
as well.
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