The Hindu Business Line : Wednesday, February 19, 2003

SAT upholds SEBI order on Wimco — Swedish Match to make open offer
THE Securities Appellate Tribunal (SAT) today upheld the Securities and Exchange Board of India (SEBI) order directing Swedish Match Group (SMG) to make an open offer for 20 per cent shares to the shareholders of Wimco. Rejecting the appeal, ... More

TECHNICAL ANALYSIS

Narrow movement
BULLS failed to extend their grip over Tuesday's trading. Prices of the tradable counters moved within a close band. Neither the bulls nor the bears could gain from the day's trading. The sentiment reading of the tradable counters remains ... More

STOCK MARKETS

Ramco Systems jumps
OPERATOR-driven and highly volatile counter of Ramco Systems today shot up in terms of volumes and price on the major bourses. The stock closed at Rs 545.35 (Rs 509.50), after touching the intra-day high of Rs 555.50 on the BSE. It attracted ... More

GTL in limelight
GTL (formerly Global Tele-Systems) was back in action on news that the company's board on February 24 would discuss the valuation report relating to a proposed acquisition. The stock, after scaling a high of Rs 87.10, closed at Rs 85 against ... More

Funds interest seen in PNB
PUNJAB National Bank attracted much interest, particularly from institutions, on Tuesday. According to market sources, domestic funds and institutions flocked the counter ahead of the Union Budget. Analysts are bullish on public sector ... More

DERIVATIVES MARKETS

Buy March 155 calls on Tata Steel
THE following strategies are based on Tuesday's trading in the derivatives segment on the NSE: Equity options Tata Steel: The outlook on this stock is positive. The upside price target is Rs 165. The risk is that profit-taking ... More

FOREIGN INSTITUTIONAL INVESTORS

FIIs raise holding in Digital GlobalSoft
FOREIGN financial institutions have steadily increased their holdings in Hewlett-Packard's locally listed software services arm, Digital GlobalSoft Ltd in the current financial year. According to the data available in the Bombay Stock ... More

ASSET MANAGEMENT COMPANIES

Sundaram AMC eyes portfolio management
SUNDARAM Asset Management Company (SMAC) plans to offer portfolio management services (PMS) shortly. According to Mr T.P. Raman, Managing Director, SMAC, the proposed portfolio management business will be a stand-alone division of the company, ... More

REGULATORY BODIES & RULINGS

Meet soon to demarcate DCA, SEBI functioning
TO discuss the overlapping functions of the Department of Company Affairs (DCA) and the Securities and Exchange Board of India (SEBI), the DCA Secretary, Mr Vinod Dhall, is likely to meet SEBI Chairman, Mr G.N. Bajpai, shortly. "I will meet ... More

Post-listing monitoring not to be part of CLA agenda initially
THE Central Listing Authority (CLA), a self-regulatory authority that is being set up under the aegis of the Securities and Exchange Board of India (SEBI), will initially have no role on post-listing monitoring and compliance with the listing ... More

COMMENTARY

PSU, bank stocks firm in narrow trade
THE 30-stock BSE Sensex moved in a narrow band and ended marginally higher on Tuesday. Expectations of a market-friendly Budget continue to induce the positive sentiments. While the movement among Index heavyweights was a mixed bag, public ... More

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