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Markets: Bears maintain firm grip
Mumbai: Markets on Thursday fell for the third straight day on across the board selling. The Sensex closed at 6589.29 points, down by 18.49 points. The S&P CNX Nifty closed at 2061.90, lower by a marginal 0.33 per cent.

Stocks of key fertiliser companies, Chambal Fertilisers & Chemicals, Deepak Fertilisers & Petrochemicals Corporation, Gujarat Narmada Valley Fertilizers, Gujarat State Fertilizers & Chemicals Nagarjuna Fertilizers & Chemicals and Madras Fertilizers registered gains.

International Markets
Gain (+) / Loss (-)

Current
Change
NASDAQ 2,061.34 -26.09
FTSE 5,057.40 +4.20
Dow 10,754.26 -80.62
Nikkei 11,648.36 +65.64
CAC 4,005.50 -3.52
HangSeng 13,987.93 +20.11
DAX 4,369.68 +0.91
Last Update : 18 February, 2005, 10:15:16 AM

National Markets
SENSEX
6,589.29 -18.49
NIFTY 2,061.90 -6.90
Last Update : 17 February, 2005, 16:15 PM

Market Counters
Figures in Rupees

BSE 30
Scrip NameOpenHighLowLast Price
TATA IRON AND STEEL CO. LTD. 407.00 415.00 402.60 411.85
HINDUSTAN LEVER LTD. 145.00 146.35 144.00 144.90
LARSEN & TOUBRO LTD. 1,010.45 1,024.90 1,005.00 1,019.30
SATYAM COMP 404.00 409.45 402.00 408.25
RELIANCE ENR* 554.90 557.00 551.20 555.10
ONG CORP LTD 805.50 815.55 802.25 808.55
ICICI BANK L 373.50 380.90 368.25 376.85
MARUTI UDYOG 472.00 476.00 467.00 473.10
TATA POWER 417.25 420.00 409.00 418.65
HOUSING DEVELOPMENT FINANCE CO 775.00 779.50 768.00 775.30
RELIANCE* 532.60 537.50 530.15 535.10
HEROHONDA M 548.00 548.00 530.10 531.35
BHARTI TELE 216.00 216.00 208.20 210.25
ZEE TELEF LT 153.00 153.00 149.30 149.95
HINDALCO IN 1,375.00 1,380.00 1,348.00 1,363.35
WIPRO LTD. 697.50 703.00 690.00 697.40
RANBAXY LABORATORIES LTD. 1,043.00 1,051.80 1,032.00 1,038.65
HINDUSTAN PETROLEUM CORP. LTD. 355.00 358.90 352.00 355.55
BAJAJ AUTO 1,046.50 1,049.50 1,027.15 1,037.75
GRASIM INDUSTRIES LTD. 1,365.00 1,365.00 1,344.00 1,353.75
TATA MOTORS 490.00 492.45 484.10 488.55
INFOSYS TECHNOLOGIES LTD.-ORDI 2,175.00 2,175.95 2,135.60 2,170.25
STATE BANK OF INDIA 663.25 663.90 651.50 659.50
ASSOCIATED CEMENT COMPANIES LT 365.10 370.10 363.20 366.55
HDFC BANK LT 560.00 564.00 555.00 557.20
GUJARAT AMBUJA CEMENTS LTD. 441.00 443.00 436.20 441.05
I T C LTD 1,308.00 1,312.00 1,290.10 1,298.95
DR.REDDY'S LABORATORIES LTD. 743.00 747.00 738.20 740.45
BHEL 858.00 860.90 847.10 858.05
CIPLA LTD. 274.00 275.00 271.00 274.50
Last Update : 17 February, 2005, 16:05PM

S&P CNX Nifty
SymbolOpenHighLowLast Price
TISCO 406.05 414.95 402.35 411.95
SBIN 662.10 663.25 651.55 659.70
INFOSYSTCH 2170.00 2179.80 2135.20 2173.95
RELIANCE 536.00 537.75 530.15 535.85
SAIL 63.55 64.00 62.85 63.60
SATYAMCOMP 406.00 410.00 402.00 408.80
MARUTI 474.40 475.50 467.05 473.65
TATAMOTORS 492.50 492.50 414.40 488.60
ONGC 806.00 816.25 800.20 809.20
BHARTI 216.00 216.00 208.55 210.40
TATAPOWER 410.20 419.90 407.30 418.30
ITC 1303.10 1312.05 1285.25 1298.85
GAIL 244.80 244.80 237.30 241.95
M&M 544.05 545.00 532.00 539.15
ACC 368.00 369.00 363.55 366.85
LT 1010.00 1025.00 1001.25 1020.65
PNB 424.00 428.75 422.10 424.95
BHEL 858.85 862.05 846.00 859.15
WIPRO 703.00 703.00 690.25 698.50
RANBAXY 1046.00 1050.90 1031.10 1039.05
HINDLEVER 144.95 146.40 143.95 144.95
GUJAMBCEM 432.55 443.80 432.55 441.35
HDFC 779.85 780.00 765.00 775.80
HINDPETRO 355.00 362.00 352.10 355.35
HEROHONDA 548.00 548.00 530.05 531.40
BPCL 440.25 446.80 436.25 441.70
ORIENTBANK 309.00 312.75 305.05 310.70
ICICIBANK 373.50 380.00 367.50 376.10
HINDALC0 1379.00 1379.00 1348.10 1369.05
TATATEA 541.00 544.25 525.60 535.75
GRASIM 1370.00 1370.00 1340.05 1356.55
REL 555.00 558.90 550.00 555.15
IPCL 183.00 183.00 177.75 179.10
SCI 164.95 164.95 161.70 163.30
MTNL 138.90 138.90 136.85 137.55
HCLTECH 350.50 350.50 338.10 343.05
CIPLA 274.50 274.95 272.00 274.45
NATIONALUM 178.00 178.00 174.10 175.50
HDFCBANK 560.00 563.60 555.10 558.30
DRREDDY 741.00 748.00 740.00 741.05
ZEETELE 153.00 153.85 150.00 150.10
BAJAJAUTO 1045.00 1049.95 1027.00 1038.00
TATACHEM 164.00 166.85 162.20 163.70
GLAXO 702.00 706.95 692.00 703.75
ABB 1264.85 1285.00 1235.00 1284.80
SUNPHARMA 490.00 493.50 485.25 487.95
DABUR 105.00 106.45 102.60 104.35
VSNL 225.00 225.00 221.00 223.35
INDHOTEL 593.00 596.90 588.10 593.25
COLGATE 194.00 194.00 188.05 192.40
Last Update : 17 February, 2005, 16:00PM
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Escorts to undertake capital revamp
New Delhi: Escorts Ltd has announced a capital restructuring plan under which it will restructure its authorised share capital by way of consolidation of existing unclassified shares of Rs333 crore and "increase by creation of further unclassified shares up to an amount of Rs440 crore."

In a communication to the Bombay Stock Exchange, Escorts said that the company will also issue its securities on preferential basis, up to the extent of Rs777.76 crore in favour of overseas investors by way of cumulative redeemable preference shares.

The financial restructuring programme is subject to regulatory approvals and permissions. The Escorts board, has already given its nod to the proposal.
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Tata MF files offer document for long term fund
Mumbai: The Tata Mutual Fund has filed an offer document with the Securities and Exchange board of India, for its scheme, the Tata floater - long-term fund. This is an open-ended pure debt scheme, investing only in debt and money market instruments.

The scheme could invest 65 - 100 per cent of its corpus in floating rate debt instruments, including securitised debt and money market instruments.

Up to 35 per cent of the corpus can be invested in fixed rate debt securities, including securitised debt and money market instruments.

The scheme offers growth and dividend options, with the proviso that if the dividend is less than Rs500, it will be compulsorily reinvested. The minimum application amount for the fund is Rs10,000.
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Satnam Overseas promoters shed stake
Mumbai: Promoters of Satnam Overseas Ltd, a basmati rice-exporting firm, have sold more than six per cent of their stake in the stock market this month, to leading FIIs.

Following the sale of 6.1 per cent stake (12.09 lakh shares) this month, the promoters' stake in the company has come down from 55.93 per cent at the end of December 2004 to 49.83 per cent.

Since the beginning of October 2004, the promoters have sold almost 20 per cent of their equity. At the end of September 2004, they held 69.86 per cent stake.

Some of the FIIs, which have bought the shares of Satnam Overseas this month, include Citigroup Global Market, Mauritius (6.16 lakh shares), Arnada Investment Mauritius (2 lakh shares) and TAIB Bank (3.95 lakh shares).

After these purchases, the FIIs' holding in the company has also gone up to 23.83 per cent. Among the leading FIIs having large stakes in Satnam include Temasek Holding group company Arnada Investment (8.1 per cent), Merrill Lynch Capital Market Espana (5.1 per cent) and Citigroup Global Market (3.1 per cent). Satnam's flagship brand 'Kohinoor' is well known both in the domestic and export markets.
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Goldman and Merrill Lynch pick up stake in Rajesh Exports
Mumbai: Goldman Sachs and Merrill Lynch have picked up a total of 5.7 per cent stake in Rajesh Exports Ltd, a gold jewellery exporting company. While Goldman Sachs bought 4.28 per cent, Merrill Lynch bought 1.42 per cent from the total equity of 70 crore shares . A third investor bought 1.42 per cent of the total paid-up capital of the company.

Shares of Rajesh Exports closed at Rs347.90 on the BSE on Thursday.
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domain-B : Indian business : News Review : 18 February 2005 : markets