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Copper rises, nickel eases

Mumbai, Mar 9 (UNI) Copper rose on reduced stocks supply, while nickel eased on thin buying support together with the London Metal Exchange (LME), traders at the Bombay Metal Exchange said today.

In the ferrous category, copper heavy and copper utensils hiked by Rs 200 each per quintal on reduced stocks supply.

In the non-ferrous segment, copper wire bars and aluminium ingots hiked by Rs 300 and Rs 50 per quintal respectively on increased of fresh demand.

Nickel cathode declined by Rs 20 per kg on increased offers by stockists.

Following are the spot metal prices per quintal: Ferrous metals: Copper heavy - Rs 31,800, copper utensils - Rs 29,500, brass utensils - Rs 23,500, brass cuttings - Rs 25,200 and aluminium utensils - Rs 11,900.

Non-ferrous metals: Copper wire bars - Rs 35,300, aluminium ingots - Rs 14,250, zinc slab Rs 18,200, lead ingots - Rs 8,300, tin slab - Rs 695 (per kg) and nickel cathode - Rs 2,080 (per kg).

UNI

IDEA Cellular debuts in capital market with a 13.33 per cent premium

Mumbai, Mar 9 (UNI) An Aditya Birla Group company, Idea Cellular, today debuted in the capital market and was listed at Rs 85, a premium of 13.33 per cent, over its offer price of Rs 75 per share on the National Stock Exchange (NSE). The company's initial public offering (IPO) aggregated Rs 21,250 million, of equity shares of Rs 10 each and its issue has been oversubscribed by 49.51 times. It is a good start for IDEA, holding above Rs 85.....

Reliance Growth Fund declares 75 per cent dividend

Mumbai, Mar 9 (UNI) Reliance Mutual Fund today declared a dividend of 75 per cent, Rs 7.5 per unit on the face value of Rs 10, in its open-ended equity diversified scheme, Reliance Growth Fund. All investors registered in the Dividend Plan of the scheme as on March 12, 2007, will receive this dividend, an official release here said. The last dividend declared by the scheme was 25 per cent in October 2006. Over the last one year, Reliance Growth.....

Sensex opens at 13,107.37, up 58 points

Mumbai, Mar 9 (UNI) The Bombay Stock Exchange (BSE) Sensitive Index (Sensex) today resumed on a positive note gaining 58.02 points to open at 13,107.37 from its previous close of 13,049.35, but sunk in the red as selling began. The BSE Sensex surged to strike an intra-day high of 13,145.72. However, it was not able to sustain the higher levels, and succumbed to selling pressure. The benchmark Sensex has slipped to a low of 12,956.80, as selling picked up pace......
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