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Over 60 cos await Sebi nod for share sale worth Rs 50,000 cr
Finding the economy and markets back on the recovery path, more than 60 companies are looking to raise an estimated Rs 50,000 crore through sale of shares and awaiting the regulatory nod for the same.

Markets snap 4-day winning streak
The markets ended their four-day winning streak as lower global indices upset the applecart. The Sensex ended at 17,343, weaker by 57 points and the Nifty closed flat at 5,169. The consumer durables pack was the leading sectoral gainer for the second day in a row, while FMCG and metals traded weak. The broader indices, however, outperformed the benchmark indices.

News of the day

Two-wheelers, utility segment to prop sales in Q1
Automobile manufacturers are expected to post sequential growth in sales, operating margins and profit in the first quarter of 2009-10, driven by Hero Honda, Maruti Suzuki and Mahindra & Mahindra. But Ashok Leyland and Tata Motors are expected to show poor results in the commercial vehicle segment due to lack of demand. TVS Motors should also be showing a decline in sales on lower motorcycles’ volumes.
Small Business

Sebi confirms order barring 75 cos in Pyramid Saimira case

Market regulator the Securities and Exchange Board of India (Sebi) today confirmed its earlier order barring proprietors and directors of 75 companies from trading in stock markets for allegedly helping Pyramid Saimira Theatre Promoter Nirmal Kotecha carry out suspicious banking transactions. - NTPC files for FPO - FIIs net sell Rs 363cr, DIIs net buy Rs 455cr - 100% returns = 100% trouble - Sebi sets timeline for sharing information - Firms line up for rights issues - FIIs net buyers of Rs 3,042 cr in cash mkt today The case relates to forging a letter from Sebi with an intention of manipulating share prices. Companies whose proprietors and directors have been barred include Adino Trading Company, Milan Gems, Yashraj Enterprise, Om Corporation and Rajkamal Steel. Sebi confirmed its exparte order given in April last year as these barred persons did not file any objections to the earlier order. "As the aforesaid entities have not filed any objections or responded to the order dated April 23, 2009, I do not have any hesitation in confirming the directions passed against the aforesaid entities/persons," Sebi said in its recent order. "They were prima facie found to have played a key role in facilitating Nirmal Kotecha in carrying out suspicious banking transactions, carrying out and disguising his manipulative intent and gaining advantage from forgery," it added.


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