Business & Economy
Stocks growing strong, some rise fivefold
in a year
What is India News Service,
Monday, 27 December 2004, 2000 hrs IST
Is the Indian stock market beginning to factor
in the true worth of investment portfolios of listed companies?
It
would seem so if the strong price performance of stocks such as Mather &
Platt, Kojam Finvest, UB Holdings and Eicher is anything to go by.
The stock of Mather & Platt, which holds
sizeable stake in Shaw Wallace, has, for instance, risen five-fold in the last
one year from Rs 28 to Rs 166 now.
In a few sessions, the stock of Eicher jumped
up by 20 per cent; reason - it owns shares in the group company Eicher Motors.
For one Eicher or Mather & Platt, there
are, however, four other such stocks that the market has still not taken notice
of. Thanks to the across-the-board rally in stock prices, there are at least 25
frequently traded stocks whose investment portfolio may be higher, in value,
than their market capitalisation.
'Involuntary'
bank mergers to get tax breaks: Banking companies that are compelled to
undertake `involuntary' amalgamation transactions need not henceforth worry
about their eligibility for tax breaks available under the Income-Tax Act for
set off and carry forward of losses.
Textile
sector to spin gains as quota regime falls: India's
fast-growing textile industry is eyeing major gains with the end Dec 31 of a
nearly four decades old quota system that allowed the developed world to set
quotas on imported textiles.
India
should not build Iran-India pipeline, says MEA:
In the latest development on the transnational pipelines regarding
the import of natural gas from Iran, the Ministry of External Affairs (MEA) has
written to the Ministry of Petroleum and Natural Gas explaining its stand on the
India-Iran-Pakistan pipeline and Myanmar-India pipeline.
BSNL's voice-based info service soon:
Bharat Sanchar Nigam Ltd (BSNL) is slated to launch in Chennai by
early 2005 its voice-based value-added information services, which were earlier
launched in four major telecom circles in the country.
Reliance buyback at Rs 570/share:
Anil Ambani abstained from voting at Monday's crucial meeting, and the board
provided Rs 2,999 crore for buyback.
Ordinance kicks in product patents regime:
The ordinance fulfils India's obligation under WTO.
CII stairway to 8% growth:
India Inc believes it is essential to achieve a double-digit growth in the manufacturing sector to attain 8 per cent GDP.
BOI,
Union Bank boards meet to discuss merger:Bank
of India (BOI) and Union Bank of India (UBI) have called their respective board
meetings here on Monday in the backdrop of merger talks between the two public
sector banks (PSBs).
For telecom, it was the year of connections:
Mobiles crossed fixed lines 10 yrs after private debut.
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