Weekly Report: Waiting for B-day
Mumbai: The Economic Survey did have something to cheer about as far the state of the country's economic health is concerned., but the markets remained muted in their response for the entire week. The inflow of funds from foreign institutional investors, hit a record for a single month, touching a whopping Rs7870.7 crore (till 24 February).

The benchmark BSE index Sensex, swung in a range of just around 107 points during the week, ending the period with a marginal loss of 14.60 points at 6569.72. Moving in a range of a little over 45 points, the broader 50 stock Nifty index of the National Stock Exchange recorded a minor gain of 5.35 points as it closed at 2060.90.
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Changes in NSE trade timings from March 4-18
Mumbai: The National Stock Exchange has said that trading will remain closed between 1145 hours and 1230 hours from March 4 to March 18 on account of sun outage due to which there may be loss of connectivity.

Trading will begin at 955 hours and end at 1615 hours during the period, a NSE statement has said. The changed timing schedule is applicable to all segments i.e. normal (both cash & derivative)/RDM/limited physical market.

Members are advised to remain logged on and not logged off from the trader workstation during this period, it said.

"During pre-open phase in the normal market, members will not be permitted to place any new orders or modify existing orders, but will, however, be allowed to cancel any of the existing orders. Pre-open phase will not be available for RDM/limited physical market segments," the statement said.
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Jet Airways IPO: Issue price at Rs1,100
Mumbai: Jet Airways (India) Ltd has fixed the issue price for its IPO at Rs1,100 per share.

"We have set the final price at Rs1,100 per share, despite overwhelming demand and despite the recommendation of our advisors to price the issue at Rs1,125", Jet Airways chairman Naresh Goyal has said in a release today.

The IPO generated a total demand of 27.98 crore shares, 16.2 times the issue size, the release said. The shares are likely to be listed by March 14 on the stock exchanges, merchant banking sources said. The bidding price band for the IPO was Rs950-1,125 per share of face value Rs10 each.

The bidding for the 100 per cent book-built issue opened on February 18 and closed on February 24.
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Allahabad Bank to pay 15 per cent interim
Kolkata: The Allahabad Bank has declared an interim dividend of 15 per cent for 2004-05. The record date is March 14.

According to a press release, the bank has filed a draft offer document with the Securities and Exchange Board of India (SEBI) for issuing ten crore equity shares at a premium.
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