love_gundu22
Praveen Gurwani
Mkt stages a strong recovery, Sensex up 186 pts
After the bloodbath witnessed on the bourses in the past couple of sessions, the markets staged a strong recovery in Wednesday's opening session.
Markets regained some lost ground in the final hour of trade as buying activity in the index heavyweights intensified.
While most stocks across sectors displayed strength in Wednesday's trade, select stocks in the pharma, software, energy and FMCG sectors witnessed selling pressure.
As regards global markets, while the Asian indices closed a mixed bag, the European indices are alsoexhibiting a mixed trend.
At closing, the BSE Sensex closed at 13,181 up 186 points and the Nifty closed at 3,765 up 48 points.
The momentum, however, increased with every successive trading hour. While there were some attempts profit-booking at the higher levels in the afternoon, it was not enough to dampen the buoyant mood among participants.
The advance-decline ratio was strongly in favour of the former in the ratio of 2.3:1 on the BSE Sensex. Reliance Communications up 8 per cent , Dr.Reddy's and SBI both up 4 per cent led the rally on the Sensex on Wednesday.
Telecom stocks were the flavour of the day with Reliance Communications up 8 per cent, Bharti Airtel up 4 per cent, and MTNL up 3 per cent closing in the positive.
According to a leading business daily, TRAI has appealed to the DoT to make amends on the ILD license first, to make it mandatory for operators to share undersea cable landing stations, before the regulator can suggest the terms and conditions of doing so.
This move will allow the resale of international bandwidth in India. TRAI pointed out that the non-access to cable landing stations was stifling ILD competition in India. If the move goes through, a substantial reduction can be expected in ILD charges.
Energy stocks bucked the positive trend in tody's trade. Siemens and Suzlon Energy both up 6 per cent ended firm. Bhel was also marginally up .
According to the BSE announcements, Zee Telefilms, the media giant, has clarified the modalities of the proposed demerger of its news and cable businesses. Pursuant to the Scheme, shareholders of Zee, as on the relevant record date, would get shares in four separate companies, which would be independently listed on stock exchanges.
They are Zee Telefilms Ltd (to be renamed Zee Entertainment Enterprises Ltd (ZEEL), Zee News Ltd (ZNL), Wire and Wireless India Ltd (WWIL), ASC Enterprises Ltd [to be renamed Dish TV India Ltd (Dish).
Shareholders of the company would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares held in the Company. Both companies would be listed independently, after relevant approvals from the Stock Exchange.
Listing is likely in January 2007. Demerged ZTL (including the Direct Consumer business undertaking) would continue to trade on the stock exchanges. A separate record date would be announced for the demerger of Direct Consumer Business of ZTL into ASC Enterprises Ltd, to be renamed Dish TV India Ltd (Dish).
The demerger is expected to unlock value for the shareholders and will lead to focused management decisions. The stock (up 7%) closed in the positive. Its peers UTV (8%) and NDTV (up 4%) also closed strong.
After the bloodbath witnessed on the bourses in the past couple of sessions, the markets staged a strong recovery in Wednesday's opening session.
Markets regained some lost ground in the final hour of trade as buying activity in the index heavyweights intensified.
While most stocks across sectors displayed strength in Wednesday's trade, select stocks in the pharma, software, energy and FMCG sectors witnessed selling pressure.
As regards global markets, while the Asian indices closed a mixed bag, the European indices are alsoexhibiting a mixed trend.
At closing, the BSE Sensex closed at 13,181 up 186 points and the Nifty closed at 3,765 up 48 points.
The momentum, however, increased with every successive trading hour. While there were some attempts profit-booking at the higher levels in the afternoon, it was not enough to dampen the buoyant mood among participants.
The advance-decline ratio was strongly in favour of the former in the ratio of 2.3:1 on the BSE Sensex. Reliance Communications up 8 per cent , Dr.Reddy's and SBI both up 4 per cent led the rally on the Sensex on Wednesday.
Telecom stocks were the flavour of the day with Reliance Communications up 8 per cent, Bharti Airtel up 4 per cent, and MTNL up 3 per cent closing in the positive.
According to a leading business daily, TRAI has appealed to the DoT to make amends on the ILD license first, to make it mandatory for operators to share undersea cable landing stations, before the regulator can suggest the terms and conditions of doing so.
This move will allow the resale of international bandwidth in India. TRAI pointed out that the non-access to cable landing stations was stifling ILD competition in India. If the move goes through, a substantial reduction can be expected in ILD charges.
Energy stocks bucked the positive trend in tody's trade. Siemens and Suzlon Energy both up 6 per cent ended firm. Bhel was also marginally up .
According to the BSE announcements, Zee Telefilms, the media giant, has clarified the modalities of the proposed demerger of its news and cable businesses. Pursuant to the Scheme, shareholders of Zee, as on the relevant record date, would get shares in four separate companies, which would be independently listed on stock exchanges.
They are Zee Telefilms Ltd (to be renamed Zee Entertainment Enterprises Ltd (ZEEL), Zee News Ltd (ZNL), Wire and Wireless India Ltd (WWIL), ASC Enterprises Ltd [to be renamed Dish TV India Ltd (Dish).
Shareholders of the company would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares held in the Company. Both companies would be listed independently, after relevant approvals from the Stock Exchange.
Listing is likely in January 2007. Demerged ZTL (including the Direct Consumer business undertaking) would continue to trade on the stock exchanges. A separate record date would be announced for the demerger of Direct Consumer Business of ZTL into ASC Enterprises Ltd, to be renamed Dish TV India Ltd (Dish).
The demerger is expected to unlock value for the shareholders and will lead to focused management decisions. The stock (up 7%) closed in the positive. Its peers UTV (8%) and NDTV (up 4%) also closed strong.