MARKETS
OPEN OFFERS
AstraZeneca not to be delisted as parent rejects exit price
Swedish parent AstraZeneca Pharmaceuticals AB has rejected the exit price of Rs 3,000 per share that emerged from the reverse book-building process, offer manager DSP Merrill Lynch has informed the BSE. The scrip closed today at Rs 933.95. ...
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FINANCIAL SERVICES
GTB advised to appoint auditor for DP operations
NATIONAL Securities Depository Ltd has advised Global Trust Bank (GTB) to appoint a concurrent auditor to oversee depository participant (DP) operations of the bank for a period of six months. This is following RBI's moratorium on GTB and its ...
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No impact of exposure not covered by collaterals in GTB
THE Securities and Exchange Board of India (SEBI) said that exposure not covered by collaterals placed in the Global Trust Bank (GTB), post RBI's moratorium, will not create any adverse impact and there will not be any need to deactivate trading ...
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MUTUAL FUNDS
UTI Mutual in pact with Union Bank — Rs 500-cr worth products to be sold this year
UTI Mutual Fund today announced a strategic tie-up with Union Bank for distribution of its mutual fund schemes. Under the agreement, Union Bank of India will offer the entire bouquet of UTI MF's schemes through its select branches. The ...
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STOCKS
Ramesh Gelli hopes shareholders too could gain
THOUGH on the face of it, the RBI-prescribed merger of Global Trust Bank (GTB) with Oriental Bank of Commerce (OBC) appears to benefit both the depositors and the employees of GTB and not its 1.6-lakh odd shareholders for 12 years, the GTB ...
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From promoter to zero stakeholder
MR Ramesh Gelli, the aggressive banker-turned-promoter who created ripples in the private banking space in 1994 by floating Global Trust Bank (GTB), has been rendered "zero-value" stakeholder of GTB. According to observers, the proposed merger ...
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TECHNICAL ANALYSIS
Bulls prevail
BULLS prevailed over Monday's trading though the market opened with a weaker note. The sentiment reading of the tradable counters remains bullish with a marginal increase in the bull count. Bear domination on Tuesday is likely to neutralise ...
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STOCK MARKETS
GTB merger: Oriental Bank to gain
WHILE equity investors of Global Trust Bank (GTB) have been left holding shares whose value is not worth the paper it is printed on, Oriental Bank of Commerce (OBC) shareholders have enough reasons to bring out the good china, say analysts. The ...
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IOC surges on ratio talk
Rumours that the merger ratio has been finalised saw the stock of Indian Oil Corporation (IOC) move sharply on Monday on the bourses. According to the market grapevine, the merger ratio (of IOC-IBP Company) has been fixed at 2:1, i.e. for every ...
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Dredging Corpn closes up 2.5 pc
THE Dredging Corporation stock on Monday attracted a block deal worth one lakh shares on the BSE at Rs 408. The stock finished the trading session at Rs 410.75, up around 2.5 per cent from the previous closing price. Some 96.6 per cent of the ...
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Kojam Fininvest gains 140% — Unlocking value thru Gujarat Glass
THE stock price of investment company Kojam Fininvest Ltd (Kojam), part of Piramal Enterprise, is on a rise since it got listed last month and in the last 8 trading sessions it has gained 140 per cent. The shares of Kojam were listed on June 24 ...
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DERIVATIVES MARKETS
Satyam: Outlook negative, sell August futures
THE following strategies are based on Monday's trading in the spot and the derivatives segments on the NSE: Satyam Computer: The stock closed at Rs 328 in the spot market. The outlook appears negative. The downside price target is Rs ...
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REGULATORY BODIES & RULINGS
SEBI norms to govern ESOPs of listed cos
THE Government has said that henceforth, the issuance of employees' stock options by all listed companies in the knowledge-based sectors will be governed by the SEBI (Employee Stock Option and Stock Purchase Scheme) Guidelines, 1999. However, ...
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COMMENTARY
Rally continues despite GTB crisis
THE market rally continued into this week, even as the issue with Global Trust Bank threatened to play spoilsport. While the stocks of private sector banks took a beating, stocks of oil and auto companies found favour with the markets. The ...
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IPOS
Indian Hotels arm Roots Corp plans IPO — To expand in mini metros
ROOTS Corporation, a subsidiary of Indian Hotels Company Ltd, is likely to go for an initial public offering (IPO), as the chain of budget hotel grows, Mr R.K. Krishna Kumar, Chairman, Indian Hotels Company, said. Though he did not specify any ...
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