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AMC
to manage UTI-II may get derailed
New Delhi: The Finance Ministry may be forced to
review its decision of setting up an asset management
company with four sponsors - - Life Insurance Corporation
(LIC), State Bank of India (SBI), Bank of Baroda (BoB)
and Punjab National Bank (PNB) - to manage UTI II, if
the Government decides to implement the recommendations
of the Joint Parliamentary Committee.
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Bank
of India in pact with DSP Merrill to distribute products
Mumbai: Bank of India has announced a tie-up with
DSP Merrill Lynch Mutual Fund, for the distribution of
its mutual schemes.
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Marginal
gains
Mumbai: Bears were in control of the initial hours
of Thursday's trading activity. Later on, bulls took over
and wiped out their early losses. Thursday's market action
resulted in reducing the bear count by a considerable
margin.
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The
end is nigh for regional SEs
Mumbai: A grim future awaits most of the regional
exchanges, with companies restricting their listing to
the concerned regional exchanges, BSE and NSE and getting
their shares de-listed from other regional exchanges.
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SEBI
mulls SEs' merger along Euronext lines
Mumbai: SEBI has asked the committee to submit
a report on the lines of Euronext which should be within
the ambit of the recommendations of the Kania Committee
on Corporatisation and Demutualisation.
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Proposal
for relook into ban on OCBs
New Delhi: The Joint Parliamentary Committee (JPC)
probing the securities scam has recommended that the Finance
Ministry should lay down clear policy guidelines for overseas
corporate bodies (OCBs) which are currently banned from
making any fresh portfolio investment in the securities
market.
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Bill
hopes electrify BSES
Mumbai: The stock price of power generation company
BSES has been rising slowly over the last few days. The
main factor for the stock rise was the expectation over
the new Electricity Bill, which would be tabled shortly
in Parliament, according to dealers.
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Titan,
SB&T Intl glitter on firm gold prices
Mumbai: The stock price of Titan Industries and
SB&T International today gained on account of rise
in the gold prices over the last few weeks. Both the companies
are engaged in manufacturing gold jewellery.
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Special
margin on Avon Organics
Mumbai: The Bombay Stock Exchange (BSE) has imposed
a special margin of 25 per cent from today. Special margin
has been imposed on the basis of member-wise gross outstanding
purchase or sale position (client-wise net), the BSE said
in a press release.
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Pivotals'
rally short-lived; bank stocks tumble
The BSE Sensex ended almost unchanged on Thursday after
staying down for most of the day. A rally in the later
half of the day following a surge in prices of pivotals
petered out and the Sensex ended the day flat.
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JPC
nails Ketan Parekh for all scams
New Delhi: The Joint Parliamentary Committee (JPC)
on the Rs 5,000-crore stock scam and the UTI fiasco yesterday
gave a clean chit to the former Finance Minister, Yashwant
Sinha, even as it indicted stock broker Ketan Parekh as
the ``key player'' in the market manipulation.
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Re
closes at new 2002 high
Mumbai: The rupee closed at 48.0775-0825 per dollar,
a new 2002 closing high for the fourth consecutive day,
getting comfort from steady forex inflow.
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