Market floats in between ups and downs

Mumbai -- After opening in red and further witnessing the same negative track, the market is still floating between the ups and downs.

Even the acquisition of Gadavari Manar has failed to boost Dollex Industries. The Industries is down by 0.8% to Rs 50. The scrip has touched an intra-day high of Rs 51 and a low of Rs 49 and has recorded volumes of over 8 thousand shares on NSE.

In the same manner,profit booking dragged the FMCG stocks down. Among FMCG stocks, Dabur has plunged by 1.8% to Rs 138, Colgate is doomed by 0.8% to Rs 363, ITC has dipped by 0.7% to Rs 178, HLL has tumbled by 0.8% to Rs 236 and Britannia is slipped by 0.6% to Rs 1155.

Following the same negativity, Venus Remedies Ltd is down by 2.6% to Rs 352, however, the Board of Directors of the Company at its meeting held on August 19, 2006, has recommended a dividend of 20% for the Financial Year ended March 31, 2007. The scrip has touched an intra-day high of Rs 360 and a low of Rs 350 and has recorded volumes of over 13 thousand shares on NSE.

On contrary, Four Soft has surged by 2.9% to Rs 59 after the company signed 120000 Euro Logistics License agreement. The scrip has touched an intra-day high of Rs 59 and a low of Rs 55 and has recorded volumes of over 14 thousand shares on BSE.

Also, ICSA India has spurred by 1.9% to Rs 700 after the company plans to recommend dividend on August 28. The scrip has touched an intra-day high of Rs 710 and a low of Rs 677 and has recorded volumes of over 30 thousand shares on NSE.

Likewise, Bharat Petroleum has surged higher by 0.3% to Rs 376. The company confirms that Government has given its nod for Kochi Refinery Merger. The scrip has touched an intra-day high of Rs 386 and a low of Rs 365 and has recorded volumes of over 1 lakh shares on BSE.