The Hindu Business Line : Friday, December 16, 2005

PSL plans pref allotment to IFC to raise $5 m
PSL Ltd, manufacturers of steel pipes, today said it will raise $5 million from International Finance Corporation (IFC). The company's board has approved the raising of additional funds from IFC, through preferential allotment of nine lakh equity ... More

OVERSEAS BORROWINGS

IL&FS Investsmart raises $90 m through GDR
FINANCIAL services firm IL&FS Investsmart has raised $90 million through its maiden global depository receipts (GDR) on the Luxembourg Stock Exchange. The issue was priced $4.28 per GDR (Rs 197), at a discount compared to the ruling domestic ... More

MUTUAL FUNDS

Franklin Templeton India head quits, tipped to join AIG
Mr Mehrotra, who has been in the private-sector asset management industry since 1993 when the erstwhile Kothari Pioneer Mutual Fund was launched, is tipped to join AIG. Kothari Pioneer, which was India's first privately-held fund house, was ... More

Reliance Mutual launches ATM facility
RELIANCE Mutual Fund has launched a new facility wherein investors of the fund can sell their units through ATM card and withdraw money instantly. To start with Reliance Regular Savings Fund subscribers would have the facility of Reliance Any ... More

Canbank Mutual pays 2.25% under Cangilt PGS
MANGALORE: Canbank Mutual Fund (CMF) has declared a dividend of 2.25 per cent (inclusive of tax) in its Cangilt PGS scheme. A press release said here on Wednesday that December 30 is the record date for income distribution. All the ... More

STOCKS

IOC, ONGC block deal plan to help save on capital gains tax
THE block-deal route proposed by by Indian Oil Corporation (IOC) and Oil and Natural Gas Corporation (ONGC) for offloading their cross-holdings will help them save on capital gains tax and other costs. More importantly, the deals are likely to be ... More

Torrent Pharma announces stock split, 1:1 bonus
TORRENT Pharmaceuticals Ltd on Thursday announced a stock split under which each of its equity of shares of Rs 10 face value will be split into two shares of Rs 5 each. The Ahmedabad-based pharmaceutical company has also announced a 1:1 bonus ... More

TECHNICAL ANALYSIS

Bear domination
THE sentiment reading of the tradable counters changed to bearish. Bull domination on Friday is likely to change the sentiment reading in their favour. On the contrary, the bearish sentiment is likely to be strengthened. Nifty futures: ... More

STOCK MARKETS

Still its debt could be a factor
Atul Ltd, a Lalbhai group outfit, which has sold off 10 lakh shares out of its total holding of around 13.22 lakh shares in Ciba Speciality Chemicals to Templeton early this week, would use the proceeds of around Rs 55 crore to repay its debts. ... More

Satyam Computer gains on better margins hope
SATYAM Computer today touched a new high and was the major gainer among index stocks on analyst's expectation of improved profit margins and on volume growth expectation for the next two quarters. The stock rose 5.34 per cent on the BSE to ... More

FOREIGN INSTITUTIONAL INVESTORS

Expert group moots checks to prevent abuse of FII route
The group said that a negative list of tax havens, whereby entities registered in these jurisdictions are prevented from attaining FII status, should be prepared. More

COMMENTARY

IT stocks shine amid weak condition
AFTER a spate of gains in the past weeks touching record highs, the markets went into a negative mood on Thursday. Markets opened flat, following Wednesday's weak close. Profit taking and slow down of FII investments coupled with a hike in the ... More

IPOS

SEBI uncovers scam in YES Bank IPO allotment — Bans 13 investors from trading
THE capital market regulator, SEBI, has unearthed a large-scale multiple application case in the recent YES Bank IPO and banned 13 investors from trading in the bank's shares with immediate effect. These investors have manipulated allotment of ... More

Modus operandi in YES Bank deal
THE modus operandi adopted in manipulating the YES Bank Ltd (YBL)'s initial public offering (IPO) allotment involved opening of over 7,500 benami dematerialised accounts. These accounts were with the National Securities Depository Ltd (NSDL) ... More

Celebrity Fashions IPO price band fixed at Rs 160-180
CELEBRITY Fashions Ltd, the owner of the brand Indian Terrain, is entering the capital market on December 19 with an initial public offering of 45.5 lakh equity shares of Rs 10 each through 100 per cent book-building process. The issue closes ... More

Bartronics fixes price band at Rs 63-75 for public issue
BARTRONICS India Ltd, an identification technology solutions provider, has priced its shares at the band of Rs 63 to Rs 75 per share, including the premium amount. The company is entering the capital market with an offer of 65 lakh equity ... More

PUBLIC OFFER

Ginni Filaments public issue opens on Dec 19
COTTON yarn and knitted fabrics manufacturer Ginni Filaments Ltd will tap the capital market with a 100 per cent book-built public issue opening on December 19. The funds from the issue will be used to expand operations and to set up a garment ... More

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DD starts selling airtime for Pakistan series

Kirloskars cannot hike stake in Toyota Kirloskar beyond 11% — Original share buyback deal renegotiated

No pressure on interest rates for now: Kamath

Japanese firm Yanmar forays into farm implements market

8 defunct urea PSUs to be restarted: Paswan

Fitch upgrades ratings for SBI, ICICI Bank

In Focus

Trends in IT - 2005

FDI in retail sector