Ear to the ground
Buyback plans sweeten Cadbury
CADBURY India shot up on Tuesday on anticipation of buyback proposal from the chocolate major. Another factor driving the price was the expectation of a special dividend on completion of 50 years in India. The stock ended 9.39 per cent higher at Rs 439.0
5 on the BSE and 9.49 per cent higher at Rs 438.90 on the NSE. The rise is price was along with increase in volumes. The total shares traded on the NSE was 50,451 compared to 17,407 shares traded on Monday and at the BSE, the volume was 39,720 shares up
from 10,364 on Monday.
Impact
Forbes Gokak: Interesting times ahead
INDICATIONS that SEBI will allow the counter-offer for a 20 per cent stake in Forbes Gokak made by Man Made Fibres Ltd could keep interest in the stock alive for some more time to come.
Dr Reddy's Lab: Challenging times
IT may be too early to draw a meaningful conclusion from AAI Pharmaceutical Inc's challenge of Dr Reddy's Laboratories' six-month monopoly in Fluoxetine (40 mg) in the US market.
Mutual Funds
SBI MF restructures portfolios; cuts IT, adds Old Economy
SBI Mutual Fund is aggressively churning portfolios of its equity schemes by paring exposure to software and telecom and increasing involvement in pharma, cement, automobiles, banking and housing finance and oil & gas refining sectors.
Off the ticker
Second-rung stocks hit upper band
TUESDAY's rally seemed to be more broad as select second-rung stocks have also enjoyed the rally. The rise is so sharp, most of these stocks closed near the upper ceiling level. The following are a few such stocks.
On the hedge
In-the-money November Calls in great demand
THE bullish sentiment in the spot market rubbed off on the derivatives segment as well. The following are some of the pointers from Tuesday's trading:
Stocks
Buying stock options safer: ICICI Web Trade COO
ICICIWeb Trade Ltd (IWTL) is the first company in India to provide seamless Internet trading through its Web site - www.icicidirect.com. With a base of more than 1.33 lakh retail accounts, the company is all set to introduce trading in index futures and
other derivatives products by end of this year. The IWTL Chief Operating Officer (COO), Mr Anup Bagchi, spoke to Business Line on the impact of stock futures in the Indian stock market and how small investors can benefit by trading in derivatives markets
.
Cisco's performance fuels rally in IT stocks
THE Mumbai bourses staged a small recovery from Monday's depressing start to the week. The 30-share Bombay Stock Exchange index or the Sensex closed up 31.88 points or one per cent higher to end Tuesday's trading at 3068.89 points from the previous day's
close of 3037.01 points.
Technical Analysis
Mild bull domination
TUESDAY's trading activity witnessed mild bull domination. However, the sideways trend in the index remained intact. The intra-day movement in the index was around 16 points. It closed with a gain of 10 points with respect to previous close. The market s
entiment reading stands mildly in favour of the bulls.
