Professional Documents
Culture Documents
shares worth Rs 1,000 crore in NTPC divestment in which foreign funds bought almost 45 per cent of shares put on sale."Foreign institutional investors have been allocated 44.92 per cent of shares, while banks and insurance companies got allotment of 11.05 per cent and 24.87 per cent, respectively," an official source said.
MARKET UPDATE: Nifty down by 120 pts and settle at 5903.50 Bank Nifty down by 376 pts at 12280.00
Shukla.Both the companies have agreed that they will mutually terminate the merger agreement. Dispute over valuing the 33.3 percent stake remaining in Taro for minority shareholders has been the reason for a termination of this agreement.
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MARKET ANALYSIS
KEY BENCHMARK INDICES EDGED LOWER IN THE WEEK ENDED FRIDAY, 8 FEBRUARY 2013 ON MACROECONOMIC WORRIES AFTER THE CENTRAL STATISTICS OFFICE (CSO) PROJECTED INDIA'S GDP GROWTH AT 5% FOR 2012-13, THE LOWEST IN A DECADE, AND SIGNIFICANTLY LOWER THAN THE GROWTH RATE OF 6.2% IN 2011-12. CONCERNS THAT PSU DISINVESTMENT AND REDUCTION OF PROMOTER STAKE TO MEET THE SECURITIES & EXCHANGE BOARD OF INDIA (SEBI) MANDATED MINIMUM PUBLIC SHAREHOLDING OF 25% FOR PRIVATE COMPANIES AND 10% FOR STATE-RUN FIRMS WILL RESULT IN SUPPLY OF EQUITY IN THE MARKET OVER THE NEXT FEW MONTHS ALSO WEIGHED ON THE SENTIMENT. BSE SENSEX DECLINED 296.42 POINTS OR 1.5% TO 19,484.77 THE 50-UNIT S&P CNX NIFTY FELL 95.40 POINTS OR 1.59% TO 5,903.50 IN THE WEEK. FROM THE 30-SHARE SENSEX PACK, 23 STOCKS DECLINED . TCS ADVANCED 5.71%. TCS ON 22 JANUARY 2013 SAID ITS FLAGSHIP PRODUCT TCS BANCS HAS GONE LIVE IN THE UNITED STATES AT BNP PARIBAS FOR ITS CUSTODY OPERATIONS. M&M FELL 0.36%. THE COMBINED NET PROFIT OF MAHINDRA & MAHINDRA (M&M) AND ITS 100% SUBSIDIARY -- MAHINDRA VEHICLE MANUFACTURERS (MVML) -- JUMPED 29.6% TO RS 915 CRORE ON 27.5% GROWTH IN GROSS REVENUE PLUS OTHER INCOME TO RS 11522.30 CRORE IN Q3 DECEMBER 2012 OVER Q2 DECEMBER 2011. BHARAT HEAVY ELECTRICALS (BHEL) DROPPED 7.48%. BHEL REPORTED 17.5% FALL IN NET PROFIT TO RS 1181.85 CRORE ON 3.2% .
EXPERT OPINION
NIFTY WEEKLY PIVOTS
NIFTY
Nifty looks Bearish Strategy: Sell on rise Support:5850 Resistance: 5950
BANK NIFTY
Bank Nifty looks Bearish Strategy: Sell on rise Support: 12160 Resistance: 12500
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