Sunday, September 28, 2008
Dabur
Dabur up as Nepal facility resumes operations
DALAL STREET SPIKES
September 27, 2008.
The share price of Dabur moved up by 2.30 per cent, or Rs 2, to close at Rs 89.05 on the Bombay Stock Exchange (BSE). The company's subsidiary in Nepal has resumed operations, ending nearly a month-long lock-out by a pro-Maoist union over labour tussle.
The company at Birgunj in the Parsa district resumed operations yesterday after it reached an agreement with the All Nepal Trade Union Federation Revolutionary and dropped a clause that said it would not pay wages for the strike period, sources in the company said. The stock touched a high of Rs 90 and a low of Rs 87 on BSE.
Thursday, September 18, 2008
Sensex
Sensex likely to drop to 11K next month: Religare's Chakraborty
MUMBAI: The Sensex is likely to drop further to 11K level next month as foreign institutional investors are pulling out drastically due to liquidity crisis in the global market, said Amitabh Chakraborty, president-equity, Religare Securities.
“We are seeing the near-term bottom at 11,000 for the Sensex and 3,650 for the Nifty in the month of October because FIIs are in selling mode and will continue further," he said.
Foreign funds net sold $212.30 million in equity on Monday and $156 million Tuesday on news of Lehman Brothers filing for bankruptcy, according to SEBI data. So far, FIIs have pulled out over $1 billion from India.
Chakraborty said the present on-going problem is very much concerned with the financial economy, which is likely to shift towards non-financial economy by 2009 and the slowdown in real economy would be visible.
“More and more countries from emerging economies would come under the influence,” Chakraborty said.
However, there would be a short term bounce back in near future as a fair amount of liquidity has been pumped in by US, but the mid-term outlook is grim.
Retail investors should keep away for some more time and a better option for them would be to invest in a segment having strong cash position or other options like liquid and debt funds, he said.
MUMBAI: The Sensex is likely to drop further to 11K level next month as foreign institutional investors are pulling out drastically due to liquidity crisis in the global market, said Amitabh Chakraborty, president-equity, Religare Securities.
“We are seeing the near-term bottom at 11,000 for the Sensex and 3,650 for the Nifty in the month of October because FIIs are in selling mode and will continue further," he said.
Foreign funds net sold $212.30 million in equity on Monday and $156 million Tuesday on news of Lehman Brothers filing for bankruptcy, according to SEBI data. So far, FIIs have pulled out over $1 billion from India.
Chakraborty said the present on-going problem is very much concerned with the financial economy, which is likely to shift towards non-financial economy by 2009 and the slowdown in real economy would be visible.
“More and more countries from emerging economies would come under the influence,” Chakraborty said.
However, there would be a short term bounce back in near future as a fair amount of liquidity has been pumped in by US, but the mid-term outlook is grim.
Retail investors should keep away for some more time and a better option for them would be to invest in a segment having strong cash position or other options like liquid and debt funds, he said.
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