THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Wednesday, August 29, 2001

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Markets

Fast track
Bata: Right foot forward?
WHILE the market has been almost dormant in the past fortnight, some scrips have seen increased valuations fuelled by company-specific news.

Impact
P&G: One-time dividend, but...
THE Procter & Gamble stock may trade with an upward bias in the short term on the back of a hefty one-time dividend announced by the company. P&G has declared a dividend of Rs 40 per equity share.

CMC: More interested parties
THE entry of two more bidders for the disinvestment process in CMC may provide support for the recent firm trends in the stock price.

Bata India: Top-level changes
THE recent changes in the ranks of the top management of Bata India may lead to some heightened interest in the stock. The move may be viewed as raising the prospect of enhanced interest by the global parent, Bata Shoe Organisation, Canada.

Stocks
Bata hogs limelight in Lyons Range
THE scrip of Bata India continued to surge ahead at the Calcutta Stock Exchange on Tuesday. The share closed at Rs 43, registering an inter-day gain of 8.04 per cent.

Pessimism prevails over cement stocks
A GLOOMY economic outlook, lack of interest among all kinds investors and a bit of profit-booking combined to send the major indices into negative territory on Tuesday. The BSE Sensex closed lower by 5.25 points (0.16 per cent) at 3,313.07 points. The Ni fty closed at 1,070.65 points, a fall of 1.90 points (0.18 per cent).

Technical Analysis
Narrow movement
TUESDAY'S trading witnessed narrow movement in the index. This left the downtrend in the index intact. The movement in the index was around 6 points. Neither the bulls nor bears could gain much from the day's trading. The Nifty closed around Monday's las t traded value. The market sentiment reading of the tradable counters remains bullish.


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