The Hindu Business Line : Wednesday, December 28, 2005

Herbertsons open offer on January 16 as per SC order
THE Kishore Chhabria Group and the UB Group have fixed January 16 next year as the opening date for the open offer of Rs 220 per share for Herbertsons. The bid closes two days later on January 18. A notice to the Bombay Stock Exchange on ... More

NEW FUND OFFER

UTI MF to launch three offshore funds next year
UTI Asset Management Company, the country's largest fund house, plans to come out with three offshore funds next year for investing in the booming Indian equities market. It also plans to launch three debt and equity funds in the short-term, ... More

INSIGHT

Lahiri Committee report on capital flows — Debate on P-flows and P-notes
THE relationship between the Reserve Bank of India (RBI) and the Government is more like that between couples. Their differences are not aired in public. Perhaps, for the first time, a major chink is on display in the Report of the Expert Group ... More

Sense from Sensex — Don't just keep count, keep abreast
As the stock market soars, it is the responsibility of policy-makers and stakeholders of all descriptions to steer the bourse and the goings on there in the right manner and direction. Their duty is to see that the Sensex does not soar for the sake o f soaring, but to some definite purpose to, for instance, add to the stability, sustainability and strength of the various sectors of the economy towards which the invested funds are flowing, says B. S. Raghavan. More

STOCKS

ICICI Bank sells 4.8% stake in Federal Bank for Rs 54.18 crore
ICICI Bank on Tuesday sold 4.8 per cent stake in Federal Bank in the open market. Goldman Sachs and Kuroto Fund bought most of these shares. ICICI Bank sold these shares in two deals of 22.50 lakh shares at Rs 170.40 per share and 9 lakh ... More

Special one-hour trading in Reliance on Jan 18 for index management
THE Bombay Stock Exchange and the National Stock Exchange have decided to hold a special one-hour trading session in Reliance Industries shares on January 18 for index adjustment. The market capitalisation of RIL would undergo a change due to ... More

As Nigerian acquisition plans fizzle out — ONGC not to offload equity stake in IOC, GAIL now
AS an immediate fallout of the Centre disallowing ONGC to acquire assets in Nigeria, the exploration and production major has dropped plans to sell part of its equity stake in IOC and GAIL (India) during this year. The corporation holds 10 per ... More

TECHNICAL ANALYSIS

Bulls ablaze
TUESDAY'S trading activity witnessed Bull domination. However, the sentiment reading of the tradable counters remains bearish. Bull domination on Wednesday is likely to change the sentiment reading in its favour. On the contrary, the bearish ... More

STOCK MARKETS

Sensex rebounds on `value-picks'
STOCK markets rebounded smartly on Tuesday on broad-based buying and "value-picks" by foreign funds after many stocks became "attractive" following Monday's fall, traders said. The benchmark BSE-30 surged by 197.27 points (2.17 per cent) to end ... More

Reliance Industries regains on funds' backing
RELIANCE Industries on Tuesday not only overcame the weakness of Monday but spurted higher than Friday's closing price primarily on the back of institutional buying. According to market sources, clearly stronger hands have taken control over ... More

REGULATORY BODIES & RULINGS

YES Bank IPO: NSDL cries foul over blame pinned on it — Says regulation is SEBI's job
"As the order has been passed against NSDL without following the principles of natural justice, without giving NSDL the material and documents which SEBI seeks to rely on, the order suffers from grave legal defects." More

SEBI bans CSE member
THE Securities and Exchange Board of India has suspended a Calcutta Stock Exchange (CSE) member Mr Mukul Bhattacharjee for a period of six months for manipulating the share prices of CSE-listed Blue Print Securities Ltd (BPSL) during the ... More

COMMENTARY

Markets bounce back, large-cap stocks hog limelight
ON Tuesday, large-cap stocks recovered more than what they lost on Monday as stock prices bounced back. Sensex, which briefly slipped below Monday's close on opening, did not stay down for long. At close of trade, Sensex gained 197 points wiping ... More

TRENDS

Reliance demerger catches fund managers, traders on wrong foot
THE demerger of Reliance Industries (RIL) has created confusion among fund managers, FIIs and traders who follow the Sensex and the Nifty index. The confusion among fund managersis: how to balance their portfolio following the demerger and ... More

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