Fast track
Sterlite buyback: Deviant response
THE broad trend in the markets continues to be more of the same evident in recent months. Listless trading is what it is. While there be little to excite the traders and speculators, investors in specific companies may be called upon to make some decis
ions linked to corporate announcements.
Impact
UB:Brewing a new company
THE specifics of the proposal to demerge the brewery business may not bring about any improvement in the valuation of the UB stock.
Centak Chem: No room for gains
The second open offer proposed by Akzo Nobel Chemicals to shareholders of Centak Chemicals at Rs 200 per share may be a non-event as far as the stock price is concerned. The stock trades close to the open offer price and is set for delisting. Akzo Nobel
Chemical's shareholding in Centak has now increased to 92.99 per cent.
Madura Coats: Uptrend may not sustain
The specifics of the buyback offer of Madura Coats may lead to some firm trend at around the current price level in the stock price. The company has proposed to buyback its shares at Rs 27 per share through the tender route. The buyback would cover 18 mi
llion shares.
Stocks
Narrow movement in Lyons Range
THE DSQ Software counter on its last of day of trading at the Calcutta Stock Exchange on Thursday closed at Rs 31.70, up 4.97 per cent on its previous close. Trading in the scrip will be suspended from Friday at CSE.
Balaji Tele trade exceeds paid-up equity
DEFENSIVE investing on Thursday ensured that major pivotals gained in value while the rest of the stocks in the market sank to lower levels. Stocks such as Hindustan Lever, Infosys, ITC and Reliance that account for a sizable proportion of the indices pe
rformed much better than their peers from the industry. The stocks of Hindustan Lever and Reliance in particular remained firm during the day's trading.
Technical Analysis
Bears retreat
INITIAL hours of Thursday's trading witnessed a bear domination. Later on, the bulls took over and wiped out the gains made by the bears. However, the downtrend in the index remained intact. The intra-day movement in the index was around 11 points. I
t closed with a gain of five points with respect to Wednesday's close. The sentiment reading of the tradable counters remained bearish.
