Helped by gains in Reliance Industries and ICICI Bank, the BSE benchmark Sensex on Wednesday closed above the 20,000-level, up 14 points, amid cautious trading before monthly expiry of derivatives on Thursday. Sensex gained by 14.1 points to close at 20,005. The gauge touched the days high of 20,073.46 and a low of 19,964.64 with 12 of the BSE index components ending with gains. It had lost 113 points in the previous two days with Tuesday seeing Sensex shed 112.45 points on profitbooking after RBI cut rates, but also lowered GDP growth projection. RIL ended 1.87% up on hopes natural gas prices will be doubled soon. ONGC, which is also expected to be a beneficiary from the move, gained 1.6% on good buying. ICICI Bank, which rose 1.11%, led gains among the banking space in 30-share Sensex ahead of its quarterly earnings on Thursday. The broad-based NSE index Nifty added 5.85 points to 6,066.75, led by stocks of realty, consumer durables and refinery stocks.
Sebi passes consent orders against Suzlon Energy
The Securities and Exchange Board of India (Sebi) has passed consent orders against Suzlon Energy and its key officials for failing to lay down a proper internal code of conduct to prevent employees from trading in the company's shares. The key officials of the company who have settled the probe by paying consent charges of R2 lakh each include CMD Tulsi Tanti and compliance officer Hemal Kanuga, along with directors Girish Tanti and Ashish Dhawan. The listed entity has also paid consent charges of R2 lakh.
LIC Nomura MF to launch RGESS on February 11
LIC Nomura Mutual Fund has received approval from Sebi to launch the Rajiv Gandhi Equity Savings Scheme (RGESS) and will introduce it on February 11, a company release said. We are launching RGESS on February 11 and it will be open till February 25, said CEO and director Nilesh Sathe.