Corporate
Bears hammer index
THE index opened with a marginal bull gap of about three points on Tuesday. With this as the high for the day the bears started hammering the index down. The index lost a substantial amount of about 50 points from the day's open/high.
Fixed trend in pivotals
THE Calcutta Stock Exchange on Tuesday saw a fixed price trend in pivotals. However, as operators substantially shifted positions from NSE to CSE through arbitrage deals, the local prices were higher than on NSE.
Fast track
Indian Shaving on smooth terrain
THE stock market closed on a weak note after having touched an all-time high of 6150 points on Monday. It appears to be in the midst of a technical correction. The near-term trend of the Sensex would be largely influenced by the price movement in the key
heavyweight stocks such as Infosys Technologies, ITC and Hindustan Lever.
Impact
Shri MM Softek: Seeking stronger background
THE stock of Shri MM Softek may be on firm territory following the likelihood of Transtream Inc of the US picking up a majority stake in the company. Any acquisition by Transtream, a stronger partner, would help Shri MM Softek access the client base of t
he former for providing services translating into better growth prospects.
DSQ Software: Lifted by orders
THE valuation of the DSQ Software stock may perk up on the back of the firm tying up new sources of revenue.
SAIL: Some breathing space
THE stock of SAIL which has been languishing for quite some time now, may look up following the approval of a restructuring package by the Government of India. A restructuring package, coupled with a waiver of a Rs. 4,500-crore loan to SAIL given by the
Government's Steel Development Fund (SDF), and the approval of the sale of SAIL's Salem steel plant, may alleviate some of the pressures on the cash flows and earnings of SAIL.
XO Tronic: Looking at revenue avenues
THE information that the products of XO Tronic have been accepted by Asco India (subsidiary of a Swiss company) may help underpin the uptrend in the stock price. This may lead to contract manufacturing orders for XO Tronic of a sizeable nature.
Stocks
SAIL, DSQ Software, ABB among gainers
STOCK prices continued their downtrend on Tuesday as SEBI's continued efforts to restrain volatility had their impact. SEBI had announced imposition of margins on 10 key stocks in addition to the margins imposed on the top 25 traders in the major exchang
es. Also, SEBI's proposal to levy margins on institutional trade and the sharp fall in the price of Infosys' ADR in Nasdaq soured sentiment.
