waiting for Securities and Exchange Board of India (SEBI) clearance,"
Indiabulls Financial Chief Executive Officer Gagan Banga told Reuters
about Brokerage firm Indiabulls Securities Ltd.
India is confident of achieving average 9 percent annual growth up to
the fiscal year 2011/12 while containing inflation, Finance Minister
Palaniappan Chidambaram told reporters today.
"I think some short-covering happened in late trade. No one knows what
the budget has in store. But if it comes out with some thing positive,
then people won't like to be caught short," said Neeraj Dewan,
director at Quantum Securities in New Delhi.
STOCKS THAT MOVED
* Matrix Laboratories Ltd, a unit of Mylan Inc, jumped as much as 7.1
percent to 190 rupees on news the drugmaker's board had authorised it
to explore alternatives for Docpharma, its commercial operations in
Belgium, Netherlands and Luxembourg, including a potential divestiture.
The shares later pared gains to end 0.2 percent up at 177.70 rupees.
* Dabur Pharma Ltd closed 3.2 percent higher at 65.90 rupees, having
been up 12.6 percent during trade, after the Economic Times reported
the cancer drugs maker was in talks with an unnamed German firm for a
partnership or a possible sale.
The company called the report "absolutely speculative".
* Glass container maker for drug and cosmetic products Gujarat Glass
Ltd listed at 434.45 rupees after its former parent was folded into
the company. The shares were down 20 percent from the base price of
543 rupees set by the BSE and trading was halted.
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