The Hindu Business Line : Saturday, March 08, 2003

Grasim hopeful of nod to open offer for L&T stake
IT appears that Grasim's open offer for 20 per cent equity stake in Larsen & Toubro (L&T) stands a chance of being cleared. On Friday, the company made a public announcement that ends optimistically: "The revised offer schedule will be ... More

MUTUAL FUNDS

ABN-Amro to float MF
AS part of its expansion plans in India, ABN-Amro Bank will be floating a mutual fund, Mr Rijkman Groenink, Chairman, ABN-Amro Bank N.V., said today. Talking to presspersons here today, Mr Groenink said the bank hoped to float the asset ... More

TECHNICAL ANALYSIS

Bears tighten grip
BEARS were in total control of Friday's trading activity. Their dominance for the third successive trading day left the bulls stranded. The market sentiment reading of the tradable counters stands strongly bearish with no uptrend counters. Bull ... More

STOCK EXCHANGES

`Changes in law key to SEs' demutualisation'
THE Securities and Exchange Board of India (SEBI) Chairman, Mr G.N. Bajpai, on Friday made it clear that the process of demutualisation of certain bourses in the country could gather momentum only after the necessary legislative changes are ... More

Meet to finalise roadmap today
IN an effort to kick-start the demutualisation of stock exchanges, the Federation of Indian Stock Exchanges, comprising about 20 regional exchanges will be meeting on Saturday to chalk out a roadmap. Mr G.N. Bajpai, Chairman of the Securities ... More

STOCK MARKETS

Capital gains sop on equity may promote money laundering
THE Budget announcement allowing capital gains tax exemption on listed equities for a year is all set to open up the floodgates for large-scale conversion of black money to white, according to market sources. Efforts in this direction are ... More

Cautious trading in Tata Engineering
THE Tata Engineering stock witnessed unloading pressure today on major bourses as a section of market players wanted an exit, apprehending war in Iraq would commence next week. However, the stock saw buyers at lower levels. As a result, Tata Engg ... More

Heightened activity in Moser-Baer
THE Moser-Baer stock was among the counters, which resisted today's sell-off pressure, but yielded some ground towards the end. The stock moved up to Rs 222.50 after opening at yesterday's closing level of Rs 217.55 on the Bombay Stock ... More

FMCG entry helps ITC buck trend
ON a dull day when there was selling pressure, cigarette major ITC bucked the trend. The firmness in ITC counter was mainly attributed to the domestic institutions buying. Dealers said the domestic institutions are looking for defensive stocks ... More

DERIVATIVES MARKETS

Tata Steel: Outlook negative, buy March 140 puts
THE following strategies are based on Friday's trading in the derivatives segment on the NSE: Equity options Tata Steel: The outlook on this stock is negative. The near-term downside price target is Rs 128. The risk is that ... More

REGULATORY BODIES & RULINGS

SEBI suspends DSE member
MUMBAI: SEBI has suspended the certificate of registration of A. Jain & Co Pvt Ltd, a member of the Delhi Stock Exchange, for a period of six months. According to a SEBI press release, the penalty was imposed for irregularities in ... More

COMMENTARY

Sensex falls for fifth day in a row; FMCGs shine
NOT too often in the recent past has the stock market indices closed on a weak note on all five trading days of the week. Aided by the bearish trend on Friday, the benchmark indices created a record of sorts by posting net decline for fifth day ... More

Stock Quotes
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line