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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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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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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to News Review index page 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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