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Written by fe Bureau | Updated: Jun 30 2011, 09:10am hrs
Sensex hits 2-month closing high, up 201 pts

The BSE Sensex rose for a fifth straight session on Wednesday, to its highest close in nearly two months, riding on world markets which gained on expectations that Greece will ward off bankruptcy and avert the euro zones first sovereign default. The 30-share index gained 1.09%, or 201.41 points at 18,693.86. The 50-share NSE index gained nearly 1% to 5,600.45 points.

ONGC board approves RHP for follow-on offer

The board of Oil and Natural Gas Corp (ONGC) has approved the red herring prospectus (RHP) for a proposed R11,500 crore share sale, but is still awaiting the Department of Disinvestment's nod for filing papers with Sebi. The full board of ONGC, including three newly appointed independent directors, yesterday approved the RHP, an official said here on Wednesday.

Indian Bank says FPO after market improves

Public sector lender Indian Bank on Wednesday said it is looking at better market conditions for launch of its follow-on public offer (FPO). The city-headquartered bank had proposed to raise funds for its expansion plans from the capital market,Indian Bank chairman and managing director T M Bhasin said. We will start preparing for the red-herring prospectus. it should be over in one month ... after obtaining the Sebi ticket we will hit the market when it is conducive.

Oracle Fin allots 20,000 stock options to staff

Oracle Financial Services Software has informed BSE that the Compensation Committee of the Board on Wednesday approved the grant of 20,000 stock options to an employee of the company under the Esop 2010 Scheme at an exercise price of R2,342.05 per option (being the closing price on June 28, 2011, on the National Stock Exchange where the trading volume of the equity shares of the company was highest) subject to such approvals, if and to the extent required, on certain terms and conditions.