JM Financial Mutual Fund has announced dividend for two of its funds. Investors of JM Equity & Derivative Fund will get a dividend of 2.10% (Rs. 0.21 per unit)(inclusive of Dividend distribution tax) while JM Arbitrage Advantage Fund investors will get a dividend of 2% (Rs. 0.20 per unit). March 23, 2007 will be taken as the record date.
Add commentMarch 20th, 2007
The Indian Stock markets despite loosing some of its gains in the last few minutes of trade remained positive giving a signal of some possible upturn after few weeks of losses. NIFTY closed the day at 3697.60 (+0.51%)
Sensex gained 60.95 pts today and managed to close at above 12700 levels - precisely to say at 12705.94 (+0.48). All the indices closed with a positive note, most of which are below the +1% mark.
Nifty gainers of the day are Jet Airways (+8%), Ranbaxy which pulled out of Merck’s generic bidding today (+6%), OBC, REL and Grasim (+4%). On the loosers list are MTNL, BHEL, Tata Steel, Infosys Technologies and Sun Pharma (all about -1%)
The USD/INR rate seems to be a concern now. The USD/INR is at 43.76 at the moment. Margins of large exporters and earnings of IT companies will get an impact due to large fluctuations on the forex rates. With the final quarter results all set to start in few days from now and since analysts are looking out for the results with keen eyes, IT companies will see some pressure building to ensure their stake holders investments are taken care of.
Add commentMarch 20th, 2007
Markets began to loose some of its margins that were gained in the mornings trades. NIFTY is currently at 3702.45 (+0.64%). Top gainers in Nifty 50 so far are Ranbaxy and Jet Airways (+6%), HDFC Bank, Grasim, Gujarat Ambhuja Cement, REL, BPCL, OBC, (all +3%) HPCL and GAIL (all +2%)
Add commentMarch 20th, 2007
NIFTY is trading at 3710.10 (+0.85%).
Banking stocks are trading firm. BANK NIFTY is at 5063.70 (+1.69%). All 12 stocks on this index are trading in green. Corporation Bank and Bank of India are trading at 4%. HDFC Bank, Union Bank and Syndicate Bank are trading at +3%
Add commentMarch 20th, 2007
A leading business media says that Ranbaxy opts out of Merck’s Generics business bidding. Ranbaxy is last Indian company in the race to pull out of the race. It is believed that the reason for opting out of the race, as per the media channel, is that the valuations have stretched a bit. Earlier Dr. Reddy’s opted to come out of the bidding.
Ranbaxy Laboratories Ltd opened at 318.90 and is currently trading at 324.00 (+2.22%)
Add commentMarch 20th, 2007
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Feb | Apr » | |||||
| 1 | 2 | 3 | 4 | |||
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| 12 | 13 | 14 | 15 | 16 | 17 | 18 |
| 19 | 20 | 21 | 22 | 23 | 24 | 25 |
| 26 | 27 | 28 | 29 | 30 | 31 | |