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Markets:
CalPERS, and the new boys in town, leading the charge
Mumbai: A day of volatile movements saw the Sensex
scale past the all-time high of 6,249, to post a new
high, before profit-booking once again dragged it down.
It ended the day closing at 6,227.83 losing 6.46 points
from Tuesday's close.
At the National Stock Exchange, the Nifty Index ended
the day with a gain of about four points, closed marginally
up at 1,962.05 Reports indicate that large institutions
such as CalPERS and Morgan Stanley are leading the charge
of a number of new institutional investors into the
Indian equity markets.
Market Gainers
Canara Bank, UTI Bank, Bank of Baroda, Corporation Bank,
Syndicate Bank, Tata Steel, SAIL, Essar Steel, Ispat
Industries, Bhushan Steel, Sunflag Iron, Monnet Ispat,
Uttam Galva, Essar Steel, Orchid Chemicals, Bank of
Punjab
Market Losers
Vesuvius India, Foseco India, Nava Bharat Ferro Alloys,
Sesa Goa, HLL, ITC, Infosys, Satyam, Wipro, TCS, Hero
Honda, Maruti Udyog, Dena Bank, Suprajit Engineering,
Maruti Udyog
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
284.85 |
-1.95 |
| Bajaj
Auto |
1,022.85 |
+12.60 |
| Bharti
Televentures |
183.55 |
+10.00 |
| BHEL |
628.95 |
+8.85 |
| Cipla |
283.45 |
+6.00 |
| Dr.
Reddys Laboratories |
781.25 |
-12.70 |
| Grasim
Industries |
1,130.95 |
+2.95 |
| Gujarat
Ambuja |
365.70 |
-2.40 |
| HDFC |
769.35 |
-31.20 |
| HDFC
Bank |
484.50 |
-10.80 |
| Hero
Honda Motors |
469.30 |
-23.35 |
| Hindalco
Industries Limited |
1,318.85 |
+11.45 |
| Hindustan
Petroleum Corp |
342.90 |
+4.20 |
| HLL |
143.10 |
-1.45 |
| ICICI
Bank |
339.90 |
-0.30 |
| Infosys
Technologies |
2,108.00 |
-40.35 |
| ITC |
1,290.05 |
+2.40 |
| Maruti
Udyog |
407.85 |
-12.25 |
| MTNL |
125.90 |
-0.90 |
| ONGC |
813.30 |
-0.70 |
| Ranbaxy
Labs |
1,126.55 |
+2.25 |
| Reliance
Energy |
566.50 |
+5.85 |
| Reliance
Industries |
528.25 |
+11.50 |
| Satyam
Computer Services |
426.10 |
-7.10 |
| State
Bank Of India |
540.60 |
+10.90 |
| Tata
Motors |
478.40 |
-4.45 |
| Tata
Power |
347.25 |
+4.15 |
| TISCO |
327.80 |
+4.40 |
| Wipro |
755.10 |
-11.05 |
| Zee
Telefilms |
149.95 |
-2.05 |
Others
Bharti Tele-Ventures up 5.76 per cent at Rs183.55
LIC Housing Finance up 2.73 per cent at Rs178.55
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BSE
and NSE shuffle T-group scrips in surveillance move
Mumbai: As a part of surveillance review, the
Bombay Stock Exchange and the National Stock Exchange
have decided to make changes in the list of securities
to be shifted to trade-to-trade group.
In a notice to its members, the BSE said it has shifted
143 scrips to T-group from December 6 while it has removed
326 scrips from T-group back to their original group.
Similarly, the NSE shifted 48 scrips to trade-to-trade
segment and removed 76 scrips from t-o-t segment to
their normal group. The move to make these changes is
part of surveillance review and pursuant to the meeting
with SEBI.
Some of the prominent stocks that have been moved to
T-group include Abhishek Industries, Financial Technologies,
Hotel Leela Venture, Ind Swift Ltd, Ind Swift Laboratories
and Zodiac Clothing.
The stocks moved out of the T-group are Agrotech Foods,
Gestetner, Goodyear, Hyderabad Industries, J K Synthetics,
Kale Consultants, LML and Kinetic Motor.
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Calcutta
SE AGM adjourned
Kolkata: The 81st AGM of the Calcutta Stock Exchange
was "adjourned" amid chaos and confusion.
The scheduled business, as per the agenda, could not
be conducted in more than two and half hours of infructuous
deliberations.
The meeting was to adopt accounts of the bourse for
the financial year ended March 31, 2004 as also accounts
of the two previous fiscals.
The AGM was also convened to approve a resolution regarding
a contribution towards the Settlement Guarantee Fund
(SGF) of the exchange by each individual member.
The members present objected to the resolution saying
that it was ultra vires according to the exchange by-laws
for SGF. They pointed out that L B Jha & Co in its
special audit on SGF had mentioned that SGF was adjusted
against losses, which occurred through non-bonafide
transactions following the payment default and securities
in the 2001 scam.
T.K. Das, the market appointed administrator, who chaired
the meeting, earlier informed members that SEBI would
eventually take up dual responsibility of the stock
and commodities market regulation. He further said:
"SEBI would have three regulatory authorities each
for cash, derivatives and commodities".
Indicating that this development would augur well for
the stock exchanges, Das said the CSE administration
was actively pursuing a plan for opening a commodity
segment of the bourse. "We can steal a march over
other stock exchanges in terms of USP," he explained.
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SEBI
modifies FII application procedure
Mumbai: The Securities and Exchange Board of
India (SEBI) has made modifications in the application
form that foreign institutional investors have to fill
up to obtain their unique identification number. According
to SEBI's directive released in September 2004, it would
be mandatory for foreign institutional investors (FIIs)
to quote their unique identification number for all
trades from April 1, 2005.
Subsequently, custodians on behalf of the FIIs and their
sub accounts had submitted several representations to
SEBI regarding the difficulties they face in complying
with the requirements of the registration procedure.
"Pursuant to the above, a series of meetings was
also held with the custodians during which certain amendments/modifications
to the Application Forms were suggested in order to
ease out the problems faced by the FIIs and their sub-accounts
during the registration procedure," said a SEBI
release.
The market regulator has published the new applicable
form on its Web site.
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Dena
Bank fixes price band at Rs.23-27 for second IPO
Mumbai: The board of Dena Bank Ltd has fixed
a price band of Rs23-27 for its proposed second public
issue of equity shares of face value of Rs10 each.
In a notification to the BSE, the bank has said that
the bank's board adopted the draft prospectus to be
filed with SEBI, in respect of the issue of eight crore
fresh equity shares with a face value of Rs10 each with
an appropriate premium.
The bank is expected to tap the equity markets in the
next couple of months, officials said.
After the issue, the bank's paid-up capital would grow
to Rs286 crore from Rs206 crore.
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