|
Markets:
Towards a new high
Mumbai: The Sensex gained a further 50.45 points
to close at 6,563.48. This aggregates to a rise of over
335 points for the index since December 1, 2004. The Nifty
closed at 1,794.05.
Market Gainers
Tata Teleservices, Jindal Vijayanagar Steel, IFCI, Nalco,
Sterlite Industries, Hindustan Zinc, Ispat Industries,
Essar Steel, Uttam Galva, Lloyds Steel, Vesuvius, Nava
Bharat Ferro Alloys, Dredging Corporation of India, HMT,
Gammon India, HPCL, BPCL, IOC, Chennai Petroleum, Sulzer
India, Mid-day Multimedia, Jaiprakash Associates, Tata
Steel, TCS, Mphasis BFL, Kalyani Steel, Mahindra Ugine
(MUSCO), ISSAL.
Market Losers
ONGC, Hindalco, HDFC, Bharati Televentures, Infosys, Maruti
Udyog, Reliance Energy, Reliance Industries, Wipro, Zee
Telefilm, Tata Power.
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
325.50 |
-2.10 |
| Bajaj
Auto |
1,120.80 |
-17.20 |
| Bharti
Televentures |
211.95 |
+0.45 |
| BHEL |
754.95 |
+11.95 |
| Cipla |
311.15 |
+2.05 |
| Dr.
Reddys Laboratories |
857.50 |
+1.10 |
| Grasim
Industries |
1,303.20 |
-1.80 |
| Gujarat
Ambuja |
397.75 |
-4.50 |
| HDFC |
756.45 |
-3.45 |
| HDFC
Bank |
517.90 |
+10.40 |
| Hero
Honda Motors |
550.80 |
-4.15 |
| Hindalco
Industries Limited |
1,367.90 |
+32.90 |
| Hindustan
Petroleum Corp |
403.90 |
+4.95 |
| HLL |
143.65 |
-1.00 |
| ICICI
Bank |
373.15 |
-1.85 |
| Infosys
Technologies |
2,061.85 |
+7.85 |
| ITC |
1,318.25 |
-0.70 |
| Maruti
Udyog |
463.50 |
-5.00 |
| MTNL |
125.90 |
-0.90 |
| ONGC |
824.40 |
-10.50 |
| Ranbaxy
Labs |
1,244.10 |
+2.10 |
| Reliance
Energy |
526.75 |
-1.95 |
| Reliance
Industries |
528.10 |
+4.60 |
| Satyam
Computer Services |
412.95 |
+2.85 |
| State
Bank Of India |
625.15 |
+10.45 |
| Tata
Motors |
510.60 |
-6.65 |
| Tata
Power |
382.05 |
-0.70 |
| TISCO |
390.95 |
+12.55 |
| Wipro |
752.35 |
+0.35 |
| Zee
Telefilms |
172.60 |
-0.20 |
Other
Eicher
Ltd. up 10 per cent at Rs100.90
Eicher Motors up 4.74 per cent at Rs244.03
Kalyani Steel up 8.04 per cent at Rs107.45
ISSAL up 9.93 per cent at Rs23.80
MUSCO up 7.43 per cent at Rs103.35
Aftek Infosys up 1.71 per cent at Rs124.75
Back
to News Review index page
Curbing
speculation - RBI hikes margins on loans against shares
Mumbai: The Reserve Bank of India has turned the
screws on bank loans against shares by raising the margins
against such loans to 50 per cent from 40 per cent, with
immediate effect.
The revised rate is applicable to all bank advances against
shares, including initial public offers (IPOs) and issue
of guarantees. The central bank has also raised the minimum
cash margin to 25 per cent, from 20 per cent. The move,
which is seen as an attempt to curb excessive speculation
in the equity market by using bank funds.
In fact, the latest RBI directive reverses its earlier
order of May 2004 when the margin in respect of advances
against shares, financing of IPOs and issue of guarantees
had been reduced to 40 per cent from 50 per cent, while
the minimum cash margin was lowered to 20 per cent from
25 per cent.
Back
to News Review index page
Kotak
Mahindra MF to launch Dynamic fund of funds
Mumbai: Kotak Mahindra Mutual Fund is launching
the Kotak Dynamic fund of funds, a close-ended scheme
which would invest up to 100 per cent in diversified large-cap
equity plans, and up to 60 per cent of funds in diversified
aggressive equity schemes. It can also keep its entire
corpus in money market securities or liquid schemes, according
to the offer document.
It is suitable for investors who seek capital appreciation
by investing in diversified equity schemes, while substantially
taking lower risk on capital over a three-year period,
the document said.
The draft offer document of the scheme has been filed
with the Securities and Exchange Board of India. The minimum
application amount for the scheme is Rs5,000 and is available
only in the growth option.
Back
to News Review index page
Tax
Saver Fund from Reliance MF
Mumbai: The Reliance Mutual Fund is launching the
Tax Saver Fund, an open-ended equity-linked savings scheme.
The primary objective of the scheme is to generate long-term
capital appreciation from a portfolio that is invested
predominantly in equity and equity-related instruments,
according to the offer document. The asset allocation
of the fund would be 80-100 per cent in equity and related
securities. Up to 20 per cent could be maintained in money
market instruments.
The scheme would charge an entry load of 2.25 per cent
for investments below Rs 2 crore and 1.25 per cent for
investments between Rs 2 crore and Rs 5 crore. There is
no entry load for investments above Rs 5 crore. These
loads are not applicable for investments made during the
initial public offerings of the scheme, said the offer
document. Investors would be able to avail of tax benefits
under Section 88, says the offer document. Investors will
have the choice of four options including dividend payout,
dividend reinvestment, growth and bonus options.
The minimum application amount for the fund is Rs500.
The fund has a target of collecting Rs 1 lakh during the
IPO. The performance of the fund would be benchmarked
against the BSE-100 index.
Back
to News Review index page
Aftek
clears ADR/GDR issue
Mumbai: Aftek Infosys Ltd has received shareholders'
approval for an ADR/GDR issue amounting $30 million, as
well as for enhancement of NRI/FII limit up to 40 per
cent of the paid-up capital of the company.
A resolution at the AGM of the company today authorised
its board of directors to issue the securities with a
greenshoe option of 15 per cent for financing the company's
expansion plans in India and abroad, said a news release
from the company.
Approval was also obtained to increase the authorised
capital of the company from Rs15 crore to Rs20 crore.
Aftek Infosys Ltd, has an annual turnover of Rs140 crore,
and is focused on building value added products and end-to-end
solutions for e-business applications and management.
The company also approved dividend at Re 1 per share for
the year ended June 30, 2004.
Back
to News Review index page
|
|
