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Cash group shares in limelight
Mumbai: There is some resurgence in buying on the stock markets, and cash
group shares, especially those in the mid cap segments, saw intense activity. The buying
activity, operators feel, may be on account of some of the cash shares going under
compulsory demat segment from 29 November. One positive factor is the continued buying
support from foreign funds, which helped to wipe off early losses. The 30-share Sensex of
the Bombay Stock Exchange lost 7.05 points to close at 4575.87. The S&P CNX Nifty of
the National Stock Exchange also lost 5 points to close at 1357.75.
Stocks of Pentafour Software were in the selling mould on
news about income tax investigations into alleged artificial sale and purchases with SRG
Infotech. The scrip lost Rs 54 to close at Rs 682 on the NSE. Infosys Technologies and
Aftek Infosys made good show. Infosys’ ADR touched a new high of $190 on the US
Nasdaq.
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BSE changes BOLT hardware
Mumbai: The Bombay Stock Exchange has enhanced the capacity of its online
trading system, BOLT, by replacing the existing hardware Tandem K20012 with S-72012. The
new system is capable of handling two-and-a-half times the current trading volumes, the
BSE said. The new system represents the latest technology, and is fault tolerant and fully
Y2K compliant.
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OTCEI plan for new
dealers gets nod
Mumbai: The Securities and Exchange Board of India has approved the
proposal of the Over the Counter Exchange of India to admit 250 new dealers in the
exchange.
The board of OTCEI at a meeting approved the formation of
a subsidiary company to acquire a membership of the National Stock Exchange.
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Crisil gets
registration
Mumbai: The Securities and Exchange Board of India has granted a
certificate of registration to the Credit Rating Information Services of India in
pursuance of the Sebi (Credit rating Agencies) Regulations 1999. Crisil is among the top
five credit raring agencies worldwide in terms of coverage and analytic strength .
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VSNL plans listing on US
bourse
Mumbai: Videsh Sanchar Nigam Ltd is planning listing of its global
depository receipts either on the Nasdaq or on the New York Stock Exchange in addition to
its present listing on the London Stock exchange. The additional listing will help trading
of VSNL's GDRs in the US. VSNL will probably be the only company in India to have such a
multiple listing.
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RBI announces sale of
11-year paper
Mumbai: The Reserve Bank of India has commenced open market operations in
government securities with an offer to sell 11-year paper through its sale window. The
move is aimed at mopping up excess liquidity accruing from the reduction in cash reserve
ratio. The RBI said it will sell the 11-year 12.29 per cent 2010 paper at a price of Rs
104.62. The offer price is in line with the last traded price in the secondary market. The
sale price works out to a yield just below 11.50 per cent.
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