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Markets:
Up 48 points - Strong indicators propel drive
Mumbai: The Sensex closed at 6451.30 points, 48.30
points (or 0.75 per cent) higher. Strong FII flows, good
corporate performance for the October-December quarter
and robust advance tax payments by companies have combined
to drive the positive market sentiment. The S&P CNX
Nifty ended the day at 2,044.65 points, 0.88 per cent
higher.
Market Gainers
Hero Honda, Videsh Sanchar Nigam, Oriental Bank of Commerce,
ITC, Bajaj Auto, Reliance Industries, Bank of India, LIC
Housing Finance, TVS Motors, Indian Overseas Bank, IFCI,
Clutch Auto, GTN Textiles, Timex Watches, RPG Cables,
Karur Vysya Bank, Berger Paints, Sonata Software.
Market Losers
Hindustan Lever, MTNL, National Aluminium, Satyam Computers,
Ranbaxy, Mphasis BFL, IBP, Kotak Bank, Biocon, Pfizer,
Maharashtra Seamless, Indian Seamless, Tele Data Informatics,
Tips Industries, Punjab Communications
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
319.50 |
+0.10 |
| Bajaj
Auto |
1,099.60 |
+39.45 |
| Bharti
Televentures |
199.35 |
+4.10 |
| BHEL |
732.05 |
+11.05 |
| Cipla |
310.25 |
+3.50 |
| Dr.
Reddys Laboratories |
860.95 |
-3.05 |
| Grasim
Industries |
1,310.45 |
+14.60 |
| Gujarat
Ambuja |
394.75 |
+2.65 |
| HDFC |
776.95 |
-5.00 |
| HDFC
Bank |
495.30 |
+2.80 |
| Hero
Honda Motors |
557.15 |
+35.45 |
| Hindalco
Industries Limited |
1,312.50 |
+7.65 |
| Hindustan
Petroleum Corp |
373.85 |
+2.40 |
| HLL |
144.50 |
-3.55 |
| ICICI
Bank |
365.25 |
+1.85 |
| Infosys
Technologies |
2,115.90 |
+1.70 |
| ITC |
1,309.65 |
+44.65 |
| Maruti
Udyog |
459.70 |
+5.60 |
| MTNL |
125.90 |
-0.90 |
| ONGC |
848.35 |
+4.50 |
| Ranbaxy
Labs |
1,248.85 |
-6.55 |
| Reliance
Energy |
524.55 |
+2.35 |
| Reliance
Industries |
485.50 |
+4.85 |
| Satyam
Computer Services |
416.85 |
-2.55 |
| State
Bank Of India |
603.05 |
+11.35 |
| Tata
Motors |
503.35 |
+9.65 |
| Tata
Power |
387.20 |
+14.25 |
| TISCO |
341.75 |
+3.00 |
| Wipro |
769.50 |
+1.75 |
| Zee
Telefilms |
178.90 |
-0.70 |
Other
Clutch Auto up Rs7.2 at Rs43.20
GTN Textiles up Rs12.25 at Rs77.95
Timex Watches up Rs2.44 at Rs18.34
Karur Vysya Bank hit the 10 per cent circuit up
by Rs44.75 at Rs492.40
Sonata Software up Rs1.55 at Rs23.50
Crew B.O.S. Products up 4 per cent at Rs61.40
Mirza Tanners up 2.3 per cent at Rs215.55
Recron Synthetics closed the day on the upper circuit
at Rs10.20
Nicholas Piramal India down Rs24.45 at Rs1,355
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TD
Waterhouse exits JV with Tata
Mumbai: TD Waterhouse group is exiting from Tata
TD Waterhouse Securities, having sold its 49.9 per cent
stake in the company to Tata Investment Corporation. The
sale price has not been disclosed.
The name of Tata TD Waterhouse Securities (TTDWS) will
also be changed to reflect the exit of the TD Waterhouse
group, said a notice to the stock exchanges sent by Tata
Investment Corporation. No reason was provided for the
exit of TD Waterhouse from the company.
The balance 50.1 per cent in TTDWS is held by two other
Tata companies. TTDWS continues to be engaged in the field
of investment advisory services related to mutual funds
and fixed income securities.
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122
companies vanished after IPO in
1992- 98 period
New Delhi: Almost 122 companies 'vanished' after
coming out with an initial public offering (IPO) during
April 1992 to March 1998, said the Minister for Company
Affairs (Independent Charge), Prem Chand Gupta, in the
Rajya Sabha on Tuesday.
"A total of 4,507 IPOs had come to the market during
the period. Out of these, at present, 122 companies stand
identified as vanishing companies, including two companies
that made IPOs during 1990-91 and 1991-92," Gupta
said in written reply to a question.
A Coordination and Monitoring Committee, co-chaired by
the Secretary, Ministry of Company Affairs, and the Chairman,
SEBI, has been set up to look into the issues relating
to delinquent/vanishing companies and their promoters
and to monitor the progress of action against them.
Accordingly, prosecutions under Sections 63, 68 and 628
of the Companies Act, 1956 were launched against 111 vanishing
companies. Besides, First Information Reports have been
filed under the Indian Penal Code against the directors/promoters
of 90 vanishing companies, Mr Gupta said. "Out of
185 companies, 82 companies have responded to the notices
issued by SEBI. Out of these, prosecutions under the relevant
Sections of the Companies Act have been launched against
68 companies."
The 185 `vanishing' companies have a total monetary exposure
of Rs1,150 crore.
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PNB
standing by for second public offer
New Delhi: The Punjab National Bank is awaiting
the Government's nod to hit the capital market. Bank officials
said that there was no move to tap the overseas capital
market. PNB intends to sell five crore shares through
its second public offer.
The
bank expects advances to grow by 23.4 per cent to Rs58,000
crore this fiscal from Rs47,000 crore last fiscal. Deposits
are likely to grow by 16 per cent to Rs1,00,000 crore
this fiscal from Rs86,000 crore in 2003-04.
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Oriental
Bank ready to tap capital market
New Delhi: The Oriental Bank of Commerce (OBC)
has said that it is considering raising fresh capital
through a second public offer. OBC was the first nationalised
bank to go in for an initial public offering in October
1994.
In a notice to the Bombay Stock Exchange, OBC has said
a meeting of its board of directors has been scheduled
for December 28 to discuss the agenda for the proposed
increase in equity share capital. The proposed offer would
bring down the Government holding in the bank that presently
stands at around 66 per cent. The bank has a share capital
of Rs193 crore.
OBC now joins a host of other public sector banks that
are proposing to hit the capital market for their second
public offer. These include Punjab National Bank, Allahabad
Bank and Dena Bank.
The bank has also informed the BSE that the proposed strike
by its employees on December 22 has been called off.
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Chola
MF to raise Rs.75 crore
Chennai: Chola Mutual Fund plans to raise Rs75
crore from the initial public offer of its Chola Multi-Cap
Fund. The Chola Multi-Cap Fund is an open-ended fund that
will invest in equity across all ranges of market capitalisation.
The
IPO of Chola Multi-Cap Fund, which was launched on December
14, 2004, will be open till January 10, 2005. The Multi-Cap
Fund would be the country's first fund to have defined
asset allocation for all ranges of market capitalisation,
company officials added.
The
large-cap and mid-cap exposure of the Fund will be maintained
between 25-75 per cent while the small-cap stocks will
not exceed 15 per cent.
Chola
Mutual Fund, promoted by Cholamandalam Investment &
Finance Co Ltd of the Murugappa Group, currently manages
ten schemes across cash, debt and equity products.
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