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HindustanTimes Wed,22 Oct 2014

Markets

Azim Premji plans to cut stake in Wipro Ltd

Azim Premji intends to cut his 82 % stake in Wipro Ltd, but the pace and timing to be guided by his philanthropic commitments.

UTI Mutual Fund opens new financial centres

UTI Mutual Fund opened two new UTI Financial Centres in the twin cities of Hyderabad and Secunderabad on Friday.

Sensex goes down 57 points at close

The stock market on Monday adjusted to a downward correction after touching a new peak at 9,689.68.

After touching new peak, Sensex closes at 9,640

Driven by ever increasing liquidity into the bourses, the Sensex hit yet another new peak at 9,680.92.

Merrill downgrades ONGC on valuation

The stock last traded at Rs. 1,181.05, gaining 15 per cent in the past month and exceeding Merrill Lynch's previous price target of Rs. 1,150.

Rupee scales three-month high against dollar

The surge was due to the dollar's plunge against major Asian currencies, mainly the yen.

Inflation falls to 4.4 per cent

The decline was mainly due to cheaper food and manufactured items.

Andhra Bank to come out with IPO

With a view to expand its presence Andhra Bank will come out with an IPO offering 8.5 cr on Jan 16.

NTPC mandates banks for dollar bond

One source said the deal may carry a 10-year maturity. They gave no further details.

BoB to utilise FPO proceeds to meet Basel-II, biz expansion

Bank of Baroda will utilise the proceeds from its 7.1 cr equity offer to comply with Basel-II norms, fund business expansion, including foray into life insurance and stock broking business.

Sensex plunges by 138 pts to close at 9,445.30

Sense plunged by 138.15 pts in highly volatile trading, marked by heavy selling by operators.

Birla MF to sell products through BoR

Birla MF signs a MoU with BoR to distribute and market Birla Mutual Fund products through 425 branches of BoR.

Mastek to consider bonus share issue Jan 12

Software services firm Mastek Ltd. said on Thursday its board would meet on January 12 to consider a bonus issue of shares.

UTI MF to launch leadership equity fund

With a face value of Rs. 10, the minimum initial investment would be Rs. 5,000 and the scheme would come with two options.

CII demands removal of FBT

CII demands removal of FBT and various other direct tax reforms to help manufacturing sector grow at 12% and economy at 8%.
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