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Market revival continues
Mumbai: Stock markets continued to be on the revival course as purchases
by foreign funds stimulated activities. There was pressure at higher levels on profit
taking, but buying activity was visible in several pivotal shares like ACC, Mahindra &
Mahindra and State Bank of India. The Sensex of the Bombay Stock Exchange recorded a
28-point rise, closing at 4,864. The S&P CNX Nifty of the National Stock Exchange
registered a 2.3 point rise to close at 1445.15.
Infotech stocks showed a mixed trend. Sectors like pharma,
telecom, financial services, media, refineries and cement ruled firm.
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Infosys, Satyam at
all-time high on Nasdaq
Mumbai: Infosys Technologies and Satyam
Infoway reached all-time highs on the Nasdaq on 7 December. Infosys hit a high of $274
against the previous day’s closing of $252, while Satyam Infoway recorded a new high
of $158, against a previous close of $151. Infosys also had a volume in excess of 37,500
American depository shares, and its market cap has reached a phenomenal $17 billion.
Infosys also ruled high on the Bombay Stock Exchange with
its price reaching an all-time high of Rs 9,900. But it closed at Rs 9,600.
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Sebi tells IDBI not to
manage IFCI issue
Mumbai: The Securities and Exchange Board of India has directed
Industrial Development Bank of India not to operate the rights issue of IFCI as co-lead
manager since it is a promoter of IFCI. IDBI holds 28.63 per cent equity in IFCI.
SBI Markets will continue to act as the lead manager to
the proposed 1:1 rights issue to raise Rs 353 crore. The issue will open on December 23.
The shares are priced at Rs 10.
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Sebi seeks details from
BSE on Aftek
Mumbai: The Securities and Exchange Board of India has asked the Bombay
Stock Exchange to provide details relating to Aftek Infosys, the shares of which have
witnessed a sharp rise in the last one month. Sebi is understood to have conducted an
inquiry into the counter and, based on preliminary findings, it has sought further details
from the BSE.
The stock’s price has risen 300 per cent in the last
one month (Rs 325 on 3 November to Rs 1,292.50 on 7 December).
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