|
Speculators,
funds vault Sensex
Mumbai: Speculators and foreign funds moved the stock market to
unprecedented heights, in a recovery process that saw flare-up of
infotech, FMCG and cyclical shares. The first day of trading of the week
witnessed the Sensex of the Bombay Stock Exchange reach an all-time high
of 5,668, an appreciation of 203 points, during intra-day trading. The
profit booking later brought down the index to realistic levels
closing at 5518, still a gain of 104 points. The trend was the same on the
National Stock Exchange, whose S&P CNX Nifty too went up by 19.65
points to close at 1632.95.
A number of infotech
companies had a field day. Stocks
of Infosys Technologies, Satyam Computers, Digital Equipment, Mastek,
Aftek Infosys, PSI Data Systems and SSI had record gains as foreign
institutional investors exhibited frenzied buying in these stocks.
Possible growth in net earnings as well as profits, which these
companies may announce for the third quarter, rekindled buyer interest
in these stocks.
Major gainers
included Bajaj Auto, Telco, Colgate Palmolive, ITC, Sterlite
Industries, Mastershare and Grasim Industries. Hindustan Lever,
Dabur and Britannia Industries too witnessed buying interest. The
combined turnover of the BSE and the NSE was at Rs 7,600 crore.
Back
to News Review index page
27 companies want
infotech tag
Mumbai: The Bombay Stock Exchange has published a list of 27 companies
who propose to change their names to have an infotech tag. These
companies have either received permission from the Registrar of
Companies or are in the process of securing such permission, the
exchange said.
Back
to News Review index page
25 more in Z group
Mumbai: The Bombay Stock Exchange has shortlisted 25 more companies to
be transferred to the Z group, which comprise companies that have not
met with the various provisions of the listing agreement of the
exchange. BSE has already
shifted over 600 companies to this group.
Back
to News Review index page
Max India plans
bonus issue
New Delhi: Max India is finalising plans for its first bonus issue. A
meeting of the board of the company is slated for 17 January to
discuss the issue. The company has a paid up capital of Rs 11.53 crore
and with the recent merger of Max Corporation with the company, its
reserves have gone up to Rs 527 crore from Rs 178 crore.
Back
to News Review index page
Computech for share
split
Calcutta: Computech International may split its shares on a 1:1 basis.
The companys board will place the proposal at an extraordinary
general meeting of the shareholders on 14 February. If the proposal
goes through, the face value of the Computech Stock will be halved
from Rs 10 to Rs five per share.
The company also
proposes to mop up over Rs 21 crore through a private placement
exercise. At present, nearly 70 per cent of the companys equity is
held by the public with promoter S.K. Rateria holding the balance 30
per cent.
Back
to News Review index page
Andhra Bank
IPO
Mumbai: Andhra Bank is considering a premium of Rs 15 to Rs 20 per
share for its initial public offer planned for the coming financial year. The bank intends to raise Rs 115 crore
through the issue. Post-issue,
the governments holding in the bank will be reduced to 74 per cent
from the current 100 per cent.
Back
to News Review index page
Templeton schemes
Mumbai: Templeton Mutual Fund has launched two open-ended schemes
-- the Templeton Monthly Income Plan and Franklin India Growth
Fund. Under the monthly income plan, a scheme with no assured returns,
investors will have a choice of four investment plans, monthly,
quarterly, half-yearly and dividend. The schemes open for subscription
from 24 January. The minimum subscription amount is Rs 10,000 and
thereafter in multiples of Rs 5,000.
Back
to News Review index page
|
