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Tata Motors, SBI cushion fall, Sensex down 56 pts

A spirited show by Tata Motors, Bharti Airtel and SBI, coupled with higher opening in European indices, helped the BSE benchmark Sensex recover from steep early losses it suffered on profit booking, but still closed 56 points down at 18,846.26, snapping a six-day winning run. The Sensex, which had climbed to a month high by rising 471.56 points in last six sessions, opened weak on Asian cues. It quickly fell to the day's low of 18,736.45, down 166 points on overnight losses in the Dow Jones Industrial Average that slid 2.36%, its biggest one-day drop in 2012, as investors focussed on US fiscal worries. However, the Indian stock market started recovering on heavy buying in Tata Motors, Bharti Airtel and SBI. The 30-share Sensex finally closed at 18,846.26, down 56.15 points, or 0.30%, from Wednesday's level. The NSE 50-share Nifty fell back by 21.35 points, or 0.37%, to 5,738.75.

Pia Singh to sell up to 1.25 cr shares in DLF

Realty major DLF on Thursday said its promoter Pia Singh, daughter of chairman KP Singh, is selling up to 1.25 crore shares in the company for about R270 crore to 10 other promoter entities. In a BSE filing, DLF said Pia Singh will sell up to 1.25 crore shares, worth up to 0.73% stake in the company, at R216.41 per share by December 17, 2012. In an inter-promoter transfer, shares will be acquired by Kavita Singh, wife of Pia's brother, and company vice-chairman Rajiv Singh, and nine other promoter entities. DLF's share on Thursday closed at R213.75, up 1.33% from the previous closing.

SAT upholds Sebi move to impose fine on 5 entities

The Securities Appellate Tribunal (SAT) on Thursday upheld Sebi's move to impose penalties on five individuals for indulging in off-market transactions in shares of Indo Pacific Software and Entertainment and not furnishing necessary information to the regulator. In a common order issued against the five individuals, SAT has upheld Sebi's penalty of R3.50 lakh each on Bharat Shantilal Thakkar, Kishore Balubhai Chauhan, Hemant Madhusudan Sheth, Prem Mohanlal Parikh and Bhavesh P Pabari for failing to appear before Sebi and provide the required information as per summons issued.

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