Pantaloon Retail (India) leads gainers in 'A' group

Financial Technologies (India), Tata Communications, Century Textiles & Industries and GMR Infrastructure are among the other gainers. Organised retailer Pantaloon Retail (India) jumped 6.83% to Rs 186.85. The stock topped the gainers in the BSE's 'A' group. The government is planning to persuade the chief ministers of individual states to back the entry of foreign supermarket chains, Commerce and Industry minister Anand Sharma said in an interview to a news agency on Tuesday, 17 July 2012. Mr. Sharma said chief ministers of at least eight out of 28 states had publicly declared their support for the policy. The main opposition Bharatiya Janata Party is staunchly opposed. Financial software maker Financial Technologies (India) climbed 6.03% to Rs 750.05 on bargain hunting after the stock tumbled 8.88% in the preceding four sessions to Rs 707.40 on 17 July 2012 from a recent high of Rs 776.35 on 11 July 2012. The stock was second biggest gainer in 'A' group. The capital market regulator Securities & Exchange Board of India on 10 July 2012 approved MCX Stock Exchange (MCX-SX) to launch stock trading. As per the shareholding disclosure on MCX-SX's website, Financial Technologies (India) and Multi Commodity Exchange of India (MCX) held 4.99% each stake in MCX-SX. However, media reports suggested that FT and MCX together hold 70% in MCX-SX (including warrants). As per the latest approval, the regulator has mandated that the promoters of MCX-SX - MCX and FT - cut their shareholding to 5% within 18 months from the date of approval, i.e., 10 July 2012. MCX and FT will also have to reduce their entitlement to equity or rights over equity arising from instruments such as warrants in excess of the shareholding as specified in the regulations within three years. The combined voting rights of FT and MCX in MCX-SX should not exceed 5% of the paid up equity share capital of MCX-SX at any point of time. Telecommunications company Tata Communications rose 5.56% to Rs 251.55. The stock was third biggest gainer in 'A' group. The company will announce Q1 results on 26 July 2012. Century Textiles & Industries rose 5.30% to Rs 319. The stock was fourth biggest gainer in 'A' group. The company will announce Q1 results on 1 August 2012. GMR Infrastructure rose 5.27% to Rs 23.95. The stock was fifth biggest gainer in 'A' group.