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ITC
board meet today to take up merger with Bhadrachalam |
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The board of directors of tobacco
major ITC Ltd is scheduled to meet on Friday to consider the
merger of ITC Bhadrachalam. Last month, ITC had announced its
plans to merge its paper subsidiary, where the tobacco major
holds 61 per cent equity. |
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Automobile
stocks show signs of recovery after SIAM report |
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If the recent trend in automobile
sales is any indication, the domestic auto sector is poised
for a recovery backed by replacement demand and good monsoon.
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IT
stocks trade at heavy discounts |
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There seems no respite for
cyber investors as technology stocks are now trading at a hefty
discount of up to 87 per cent to their book values. The book
value, which is generally reckoned as intrinsic value of a stock,
is low in an IT company as compared to its old-economy counterpart. |
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FII
unloading drags Sensex down 42 pts |
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Equities reacted afresh at
The Stock Exchange, Mumbai on Friday following renewed unloading
by foreign funds, as talk of war and global economic uncertainties
cut short a two-session rally, leaving the Sensex down by 42.50
at 2761.66. |
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