Fast track
Tata Tea: Perking up?
The bourses seem to be slowly recovering from the decline witnessed over the past weeks. Old economy stocks have seen the most action, as recent volatility at the Nasdaq has led investors to be wary of high tech scrips.
Impact
Alembic: Revenue pep, but...
THE permission received by Alembic to market a generic drug in the European Union countries may not lead to any immediate improvement in the valuation of the stock.
Larsen & Toubro: More capacity, but...
THE commissioning of a cement unit by Larsen & Toubro in Tamil Nadu may not have any influence on the demand-supply situation and cement prices in the near term.
Binani Ind: Spoke in the wheel
THE Binani Industries' stock could be gripped by uncertainty as its restructuring plans run into a block. The company had proposed to hive off its zinc business to Binani Zinc and a swap ratio of one share of the latter for every five shares in Binani In
dustries had been announced. But Industrial Development Bank of India (IDBI), as the major secured lender to the company, has not accorded its approval to the proposed scheme of arrangement. In the wake of this development, the uncertainty factor may cas
t a shadow on the stock price. It may at best be range-bound at around the current price levels. -- BL Research Bureau
Stocks
Old economy stocks miss rally
BULLS and bears waged a full-scale war on Dalal Street on Thursday, bringing cheer to technology stock investors while old economy punters seemed ready to rip their shirts off.
Nasdaq shepherds tech scrips to a rebound
THE Bombay bourse continued to stay in investor favour, remaining positive on Thursday's trading. The 30-share market barometer, the Sensex, closed at a two-week high of 4,115.57, up 1.36 per cent and 55.35 points from the previous day's close of 4,060.0
2. The index opened at 4,180.97 to trade within a range of 71.42 points between an intra-day high of 4,180.97 and a low of 4,109.55.
Technical Analysis
Gains not held
ON Thursday, the bulls dominated the market in the initial hours. Later in the day, the bears trimmed the gains. The trend of the index continued to be in the sideways direction. The sentiment of scrips in the tradable list became almost totally bullish
with all counters except one in the uptrend.
