Nitta Gelatin and Mitsubishi Corporation are all set to hike their stake in Kerala Chemicals and Proteins, thanks to the poor public response to the company's Rs 31.5-crore rights issue. The foreign promoters can now raise their stake in Kerala Chemicals up to 46 per cent from the current 35 per cent. There is also an RBI stipulation barring the foreign promoters to exceed their stake in Kerala Chemicals beyond 46 per cent. This will also ensure the foreign promoters pick up the unsubscribed portion in the rights. 57 A group stocks witness free fall :

It has been a free fall for as many as 57 BSE group A stocks in the past few days, though the sensex continues to hold around 2850-2900 levels. Besides, the market has started throwing up a new set of losers, which were, till yesterday, viewed as safe bets and were doing well in a nervous-ridden market. For instance, Dr Reddy's Laboratories has lost over 12 per cent in the last six trading sessions. Other scrips like Zee Telefilms, Digital Equipments and Dabur India have come under bear hammering and lost substantial values in the past 6 trading sessions.

NIIT to raise FII investment limit to 30%:

NIIT Ltd has convened an extraordinary general meeting on September 10 to seek the approval of its shareholders to increase the FII holding in the company to 30 per cent of the paid-up capital from the present 24 per cent. According to the company, FIIs have sought an increase in the investment limit as the 24 per cent ceiling has already been reached.

Sri Vishnu Cements attracts 40% margin:

BSE has decided to impose an additional volatility margin of 40 per cent on the net outstanding purchase position of Sri Vishnu Cements with effect from August 18.

Shriram AMC extends rights issue:

Shriram Asset Management has decided to extend its rights issue till September 5. The BSE has therefore decided to allow dealings in the letter of renunciation of 12.5 per cent optionally convertible preference shares of the company till September 2.

DSE Index touches 2-year low:

Share prices lost further ground at the Delhi Stock Exchange on Tuesday with bear operators and foreign funds indulging in nervous sales on reports of a sharp decline in the value of the rupee value due to the political crisis. The DSE Senstive Index finished at a new two-year low of 648.43 points

MSE Index sheds 50 points:

Equities declined further on the Madras Stock Exchange on Tuesday as mounting uncertainty on the political front took its toll on market sentiment. The MSE Index dropped by 49.52 points to close at 3,394.26 points. ACC ended down at Rs 1,090 and Madras Cements at Rs 4,125. Reliance lost Rs 6 to Rs 115.80, ITC Rs 4.10 to Rs 569.30 and Telco Rs 3.20 to Rs 131.

BgSE shares lose ground:

Share prices remained subdued at the Bangalore Stock Exchange on Tuesday. According to marketmen, there was hectic activity in the ITC counter. The turnover on the bourse stood at Rs 19.25 crore. ITC firmed up to Rs 571.55 from an opening of Rs 566.10 while Satyam Computers declined to Rs 452.10 (Rs 454.25). SBI, Reliance, Tisco and L&T were quoted lower Rs 184.90 (Rs 190), Rs 115.40 (Rs 120.10), Rs 93 (Rs 93.15).

Skindia Index drops 0.47%:

The Skindia GDR Index dropped by 0.47 per cent from 572.17 points to 569.47 points on August 17. The Skindia GDR Index p/e ratio was 13.13 on August 17 compared with 13.19 on August 14. The top gainers were Telco, Indo Gulf and Century Textiles which quoted at $3.50 ($3.25), $0.85 ($0.80) and $1.05 ($1.00) respectively. Losers included JCT, Spic and CESC.

Call rates end at 8%:

The overnight call money interest rates ruled slightly easy on Tuesday. The rates opened lower at 7.50-7.75 per cent from their previous close of 8.50-9.00 per cent, moved up to 8.25 per cent in the morning and eased to a low of 7.20 per cent on poor demand. The rates finally closed at 7.50-8.0 per cent.

Gold prices firm up:

Gold prices surged on Tuesday in the wake of hectic festival buying and a strong trend in the overseas markets. Standard gold firmed up by Rs 35 to end at Rs 4,245. 22-carat gold improved by Rs 30 to finish at Rs 3,925. Raw silver (.916) rose by Rs 10 to end at Rs 7,800, while ready silver (.999) ruled steady at Rs 7,900.

Groundnut oil touches new high:

Groundnut oil prices shot up to close at yet another record high on Tuesday. Groundnut oil gained Rs 15 to end at Rs 565. There was no trading in groundnut bold. In the futures market, castorseed December contract moved up by Rs 9 to finish at Rs 1,796.

Shanghai B up 4.3 per cent:

Shanghai's B shares, nominally reserved for foreign investors, rose 4.3 per cent on Tuesday as the index appeared to have bottomed out, analysts said. The Shanghai Stock Exchange's B share index added 1.17 points to settle at 28.35 points while the A share index of locally-traded stocks ended up 0.45 points, or 0.04 per cent, to 1,138.80 points.

Hong Kong stocks marginally down:

Hong Kong stocks ended the day 0.2 per cent down on Tuesday, after trading in a narrow range with speculators wary after government intervention last week, dealers said. The key Hang Seng Index finished 13.77 points lower.

European shares bounce back on Wall Street recovery:

Share prices on the main European markets bounced back early on Tuesday, in the light of an overnight recovery on Wall Street, which offset modest losses in Hong Kong, analysts said. The FT-SE 100 index of leading shares rose by 97.8 points to 5,565 points. In Paris, the CAC 40 index opened 68.79 points higher at 4,052.60 points and in Frankfurt, the DAX 30 index opened 71.69 points higher at 5,503.72 points. Traders said that a rise of 1.78 per cent in US blue chip stocks provided the main impetus for trade.

Blue-chips rise on NYSE: