V-Guard Industries which is listed today in BSE and NSE, opened on a positive node. based in Kerala Company, which listed today at Rs 84 on BSE, was closed at Rs 73.45 On BSE and at Rs 73 on NSE below its issue price of Rs 82 per equity share.
On the BSE, the stock opened at Rs 82.15 and has touched an intra day high of Rs 98.90 and an intra day low of Rs 70.70 with volumes of 190,80,854 shares.
On the NSE, the stock opened at Rs 90.00 and has touched an intra day high of Rs 98.95 and an intra day low of Rs 72.60 with volumes of 195,09,563 shares.
In an exclusive interview with CNBC-TV18, PGR Prasad, Chairman of V-Guard Industries said he sees FY09 profits at Rs 40 crore with non-recurring profits.
The company fixed the issue price at Rs 82 per equity share. The company had come out with a public issue of 80,00,000 equity shares of Rs 10 each for cash at a price of Rs 82 per equity share for cash aggregating to Rs 65.60 crore.
The issue, which was a 100% book built issue, was oversubscribed 2.45 times. Qualified Institutional Buyers' portion oversubscribed by more than 1.74 times, the retail portion by 4.04 times and the HNI portion by 1.64 times.
The company proposed to utilize the net proceeds of the issue to set up Cable manufacturing facilities in Coimbatore and Uttaranchal, Enameling Plant at Coimbatore, Development and Pilot Productions Plants for water Heaters, Fans and Pumps at Himachal Pradesh and Coimbatore, Service and Distribution Centers at Bangalore, Hubli and Vijaywada.
V-Guard Industries Limited is engaged in the manufacturing and marketing of Electronic Voltage Stabilizers, Monobloc, Jet, Submersible, Compressor pumps and Electric Motors, Insulated Electrical Cables (House Wiring, Industrial), Electric Storage & Instant Water Heaters, Solar Water Heaters, UPS, Electric Fans and is also in generation of Power in a small way. V-Guard is present in 16 states with eighteen branches including their head office located in Cochin. Their products are sold through a network of over 7000 retail dealers and 111 distributors Pan India.
Friday, March 14, 2008
Black Thursday :( ?? - Market crashes by 5% each
One more black day for market... As we told in our previous posts, Markets carshed from morning with opening more than 1% down and went down further as day proceeded..
Nifty was down over 250 points and Sensex down 800 points. Nifty slipped below 4600 mark and Sensex has breached 15,400 mark. Broader markets have also collapsed with CNX Midcap down nearly 5% and BSE smallcap index is down 4%. Markets breadth is negative with advance:decline at 1:16.
It was an extremely bad day for markets with Sensex breaching the January lows of 15332. Globally equity markets have seen a sell off but India has underperformed its peers.
Day Closing
NIFTY 4623.60 down 248.40
SENSEX 15367.61 down 760.37
Realty index is the worst hit and is down over 10% followed by metal index down 7%. Energy indices are down over 6%.
Asia ended deep in red with Hang Seng down over 4.8%. Europe was trading deep in red most of the indices down nearly 2% each. The problem is global in nature and some experts believe that emerging markets will see a further fall and test their January lows. Sensex has slipped below the January lows of 15332.
Nifty was down over 250 points and Sensex down 800 points. Nifty slipped below 4600 mark and Sensex has breached 15,400 mark. Broader markets have also collapsed with CNX Midcap down nearly 5% and BSE smallcap index is down 4%. Markets breadth is negative with advance:decline at 1:16.
It was an extremely bad day for markets with Sensex breaching the January lows of 15332. Globally equity markets have seen a sell off but India has underperformed its peers.
Day Closing
NIFTY 4623.60 down 248.40
SENSEX 15367.61 down 760.37
Realty index is the worst hit and is down over 10% followed by metal index down 7%. Energy indices are down over 6%.
Asia ended deep in red with Hang Seng down over 4.8%. Europe was trading deep in red most of the indices down nearly 2% each. The problem is global in nature and some experts believe that emerging markets will see a further fall and test their January lows. Sensex has slipped below the January lows of 15332.
Global Markets Tumble- Markets Across the Glob Sink on Worries About US Economy
European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
In Europe, the U.K's benchmark FTSE 100 index dropped 1.9 percent to 5,667.5, while Germany's DAX slipped 2.4 percent to 6,443.59. In France the CAC declined 2.5 percent to 4,579.56
Dow futures were down 164 points, or 1.4 percent, to 11,959, while the Standard & Poor's 500 index futures were down 19.8 points, or 1.5 percent, to 1,289.6.
In Asia the dollar's drop to a 12-year low against the yen hammered stocks of Japanese exporters such as Toyota and Sony. The Nikkei 225 index tumbled 3.3 percent to 12,433.4, its lowest in 2 1/2 years.
In late Tokyo trading, the dollar fell below 100 yen for the first time since 1995, sinking as low as 99.75 yen.
In Hong Kong, the Hang Seng Index fell 4.8 percent to 22,301.6. Benchmark indices fell more than 2 percent in Australia, China, Malaysia, South Korea and Taiwan, while markets in India and Indonesia lost more than 4 percent.
In South Korea, steelmaker Posco plunged 6.2 percent, shipbuilder Hyundai Heavy Industries fell 4.9 percent and Samsung Electronics -- the country's largest corporation -- fell 1.8 percent
Asian Market Closing
Nikkei 225 12,433.44 -427.69 -3.33%
Hang Seng 22,301.64 -1,121.12 -4.79%
Straits Times 2,805.55 -112.39 -3.85%
Europe market
FTSE 100 5,673.00 -103.40 -1.79%
DAX 6,449.05 -150.32 -2.28%
CAC 40 4,586.24 -110.86 -2.36%
In Europe, the U.K's benchmark FTSE 100 index dropped 1.9 percent to 5,667.5, while Germany's DAX slipped 2.4 percent to 6,443.59. In France the CAC declined 2.5 percent to 4,579.56
Dow futures were down 164 points, or 1.4 percent, to 11,959, while the Standard & Poor's 500 index futures were down 19.8 points, or 1.5 percent, to 1,289.6.
In Asia the dollar's drop to a 12-year low against the yen hammered stocks of Japanese exporters such as Toyota and Sony. The Nikkei 225 index tumbled 3.3 percent to 12,433.4, its lowest in 2 1/2 years.
In late Tokyo trading, the dollar fell below 100 yen for the first time since 1995, sinking as low as 99.75 yen.
In Hong Kong, the Hang Seng Index fell 4.8 percent to 22,301.6. Benchmark indices fell more than 2 percent in Australia, China, Malaysia, South Korea and Taiwan, while markets in India and Indonesia lost more than 4 percent.
In South Korea, steelmaker Posco plunged 6.2 percent, shipbuilder Hyundai Heavy Industries fell 4.9 percent and Samsung Electronics -- the country's largest corporation -- fell 1.8 percent
Asian Market Closing
Nikkei 225 12,433.44 -427.69 -3.33%
Hang Seng 22,301.64 -1,121.12 -4.79%
Straits Times 2,805.55 -112.39 -3.85%
Europe market
FTSE 100 5,673.00 -103.40 -1.79%
DAX 6,449.05 -150.32 -2.28%
CAC 40 4,586.24 -110.86 -2.36%
Thursday, March 13, 2008
Reliance Energy buyback from March 17
The buyback of Reliance Energy’s shares will commence from March 17 and will continue till March 4, 2009, Reliance Energy informed SEBI on Wednesday.
The company had announced the buyback in its board meeting held on March 5.
Reliance Energy proposes to buyback 50-lakh plus shares at a price not exceeding Rs 1,600 per share, aggregating to Rs 800.06 crore, to raise promoters’ stake in the company.
The minimum number of shares bought back would be 50,00,375 amounting to 2.11 per cent of the paid-up capital of the company as on March 5, 2008.
As on March 4, 2008 promoters hold 35.95 per cent stake in the company, FIIs & foreign mutual funds hold 21.89 per cent, domestic financial institutions including banks and mutual funds own 23.51 per cent, and the public and corporate bodies hold 18.65 per cent.
Reliance Energy share closed at Rs 1,328.30 on the BSE, up by 3.19 per cent from its previous close.
The company had announced the buyback in its board meeting held on March 5.
Reliance Energy proposes to buyback 50-lakh plus shares at a price not exceeding Rs 1,600 per share, aggregating to Rs 800.06 crore, to raise promoters’ stake in the company.
The minimum number of shares bought back would be 50,00,375 amounting to 2.11 per cent of the paid-up capital of the company as on March 5, 2008.
As on March 4, 2008 promoters hold 35.95 per cent stake in the company, FIIs & foreign mutual funds hold 21.89 per cent, domestic financial institutions including banks and mutual funds own 23.51 per cent, and the public and corporate bodies hold 18.65 per cent.
Reliance Energy share closed at Rs 1,328.30 on the BSE, up by 3.19 per cent from its previous close.
Stock idea's
today sell sell sell... Panic selling likely to come today or tomorrow. Nifty Goes down below 4800/4770/4720 then panic selling wil come
Sell RPOWER - target 340/332/325
Sell RNRL - Target 115/112/109
Sell ICICI - Target 868/852/835
Sell Shobha - target 675/660/640
Sell Unitech - Target 280/275/260
Sell FCH - Target 515/509
Sell RPOWER - target 340/332/325
Sell RNRL - Target 115/112/109
Sell ICICI - Target 868/852/835
Sell Shobha - target 675/660/640
Sell Unitech - Target 280/275/260
Sell FCH - Target 515/509
Market View@8.45AM IST 13th March
All global cues negative, Yesterday also some profit booking brought down the Indian market. This trend likely to continue today also. You can see gap down opening, NSE may be down by more than 50 points .. U may see this correction will lead to bearish trend today.. Let us see what happens..
US MARKET closing
Dow 12,110.24 -46.57 -0.38%
Nasdaq 2,243.87 -11.89 -0.53%
S&P 500 1,308.77 -11.88 -0.90%
Asian Market @8.45AM
Nikkei 225 12,600.05 -261.08 -2.03%
Hang Seng 22,892.49 -530.27 -2.26%
Straits Times 2,882.86 -35.08 -1.20%
US MARKET closing
Dow 12,110.24 -46.57 -0.38%
Nasdaq 2,243.87 -11.89 -0.53%
S&P 500 1,308.77 -11.88 -0.90%
Asian Market @8.45AM
Nikkei 225 12,600.05 -261.08 -2.03%
Hang Seng 22,892.49 -530.27 -2.26%
Straits Times 2,882.86 -35.08 -1.20%
Indian shares Closes in red after weak factory output data
Indian shares turned negative in late trade on Wednesday, after rising as much as 3.5 percent earlier, on weaker-than-expected industrial output data that showed growth slowed to 5.3 percent in January from a year ago.
At 4:15PM , the 30-share BSE index was down 0.23% or 36.61points at 16,086.54.
The 50-issue NSE index was down 0.13% or 6.10 points at 4872.00.
Top Losers
Hindalco 189.60(-6.55%)
Tata Steel 766.45(-6.42%)
DLF 712.70(-4.86%)
SBI 1807.90(-4.38%)
Top Gainers
Cipla 204.15(4.26%)
Grasim 2892.55(3.69%)
Reliance Energy 1328.30 (3.19%)
ICICI Bank 879.90(2.98%)
At 4:15PM , the 30-share BSE index was down 0.23% or 36.61points at 16,086.54.
The 50-issue NSE index was down 0.13% or 6.10 points at 4872.00.
Top Losers
Hindalco 189.60(-6.55%)
Tata Steel 766.45(-6.42%)
DLF 712.70(-4.86%)
SBI 1807.90(-4.38%)
Top Gainers
Cipla 204.15(4.26%)
Grasim 2892.55(3.69%)
Reliance Energy 1328.30 (3.19%)
ICICI Bank 879.90(2.98%)
Wednesday, March 12, 2008
Performance of calls till 11AM IST
GTL Infra SL43 target 50 high 48.80
Praj SL 148 target 155/160/164 High 163.00
REC SL 120 target 140/155 listed at 129.90
RPL SL168 Target 175/178/182 high 176.65
RNRL SL114 target 120/126/135/140 high 129.50
Petronet SL66 target 72/73/75 high 74.25
RPOWER SL 355 target 362/368/380/390 high 377.90
Voltas SL 187 target 195/198/201 high 199.95
Hindalco SL 200 target 205/208/209 high 207.00 but then SL triggered to those dint sell
IDBI SL 99 Target 105/108 high 107.70
ISPAT SL36.5 Target 38.5/40 high 39.90
RCOM SL540 target 555/562/580 high 573.40
FCH SL515 target 537/545/560 high 575.00
CAIRN IND high 239.35(up 8rs)
IndiaCEM high 216.90(up 10rs)
Ranbaxy high 473.80(up 18rs)
Renuka high 1,199.00(up 100rs)
Mastek high 280.00(up 4rs)
Praj SL 148 target 155/160/164 High 163.00
REC SL 120 target 140/155 listed at 129.90
RPL SL168 Target 175/178/182 high 176.65
RNRL SL114 target 120/126/135/140 high 129.50
Petronet SL66 target 72/73/75 high 74.25
RPOWER SL 355 target 362/368/380/390 high 377.90
Voltas SL 187 target 195/198/201 high 199.95
Hindalco SL 200 target 205/208/209 high 207.00 but then SL triggered to those dint sell
IDBI SL 99 Target 105/108 high 107.70
ISPAT SL36.5 Target 38.5/40 high 39.90
RCOM SL540 target 555/562/580 high 573.40
FCH SL515 target 537/545/560 high 575.00
CAIRN IND high 239.35(up 8rs)
IndiaCEM high 216.90(up 10rs)
Ranbaxy high 473.80(up 18rs)
Renuka high 1,199.00(up 100rs)
Mastek high 280.00(up 4rs)
Asian Markets Surge after US markets close up 3%
Asian markets showing good upward trend after US markets closed above 3% in green.
Asian Markets at 08:50AM IST
Nikkei 225 12,999.84 +341.56 +2.70%
Hang Seng 23,615.05 +619.70 +2.69%
Straits Times 2,936.58 +75.73 +2.65%
US Market Closing
Dow 12,156.81 +416.66 +3.55%
Nasdaq 2,255.76 +86.42 +3.98%
S&P 500 1,320.65 +47.28 +3.71%
Asian Markets at 08:50AM IST
Nikkei 225 12,999.84 +341.56 +2.70%
Hang Seng 23,615.05 +619.70 +2.69%
Straits Times 2,936.58 +75.73 +2.65%
US Market Closing
Dow 12,156.81 +416.66 +3.55%
Nasdaq 2,255.76 +86.42 +3.98%
S&P 500 1,320.65 +47.28 +3.71%
Todays Picks
GTL Infra SL43 target 50
Praj SL 148 target 155/160/164
REC SL 120 target 140/155
RPL SL168 Target 175/178/182
RNRL SL114 target 120/126/135/140
Petronet SL66 target 72/73/75
RPOWER SL 355 target 362/368/380/390
Voltas SL 187 target 195/198/201
Hindalco SL 200 target 205/208/209
IDBI SL 99 Target 105/108
ISPAT SL36.5 Target 38.5/40
RCOM SL540 target 555/562/580
FCH SL515 target 537/545/560
Praj SL 148 target 155/160/164
REC SL 120 target 140/155
RPL SL168 Target 175/178/182
RNRL SL114 target 120/126/135/140
Petronet SL66 target 72/73/75
RPOWER SL 355 target 362/368/380/390
Voltas SL 187 target 195/198/201
Hindalco SL 200 target 205/208/209
IDBI SL 99 Target 105/108
ISPAT SL36.5 Target 38.5/40
RCOM SL540 target 555/562/580
FCH SL515 target 537/545/560
REC Listing, Nifty View
Today is one more big day for IPO market. REC is listing today. It is mostly to list above 120+ and may go up till 140+. Technically it is a good buy.
Nifty wil open Gap up and will rally a bit. But a very strong Resistance is there at 5000, where u can see some profit booking market might come down from somewhere near there. Asian markets also open 2% gap up trading at 3% + currently. US Markets closed in between 3% to 4%.
Some stocks lookng good for today are Crain,IndiaCEM,Ranbaxy, Renuka, mastek.
Nifty wil open Gap up and will rally a bit. But a very strong Resistance is there at 5000, where u can see some profit booking market might come down from somewhere near there. Asian markets also open 2% gap up trading at 3% + currently. US Markets closed in between 3% to 4%.
Some stocks lookng good for today are Crain,IndiaCEM,Ranbaxy, Renuka, mastek.
World Market - US Surges, Europe ends high
Wall Street rebounded sharply Tuesday after the Federal Reserve and other central banks said they will pump $200 billion into the financial markets to help ease the strain from the credit crisis.
After this news came the Europe market also went up sharply
US Market at 12:25AM IST
Dow 12,057.33 +317.18 +2.70%
Nasdaq 2,231.83 +62.49 +2.88%
S&P 500 1,307.86 +34.49 +2.71%
Europe Markets End in Green
FTSE 100 5,690.40 +61.30 +1.09%
DAX 6,524.57 +76.49 +1.19%
CAC 40 4,627.69 +60.70 +1.33%
Indian Market outlook for 12th
Market will open Gap up. NSE will go more than 100 points up.
After this news came the Europe market also went up sharply
US Market at 12:25AM IST
Dow 12,057.33 +317.18 +2.70%
Nasdaq 2,231.83 +62.49 +2.88%
S&P 500 1,307.86 +34.49 +2.71%
Europe Markets End in Green
FTSE 100 5,690.40 +61.30 +1.09%
DAX 6,524.57 +76.49 +1.19%
CAC 40 4,627.69 +60.70 +1.33%
Indian Market outlook for 12th
Market will open Gap up. NSE will go more than 100 points up.
Nifty View 12th March
After today’s Move the nifty will find next resistances at 5000/5100/5175, all very strong resistances and hence one need to be cautious at these levels. Once these are crossed then we will be back in BULL market but looks bit difficult at this stage. Now we have a strong support at 4800, below which again BEAR market appears. Keep booking profits at upper levels.
Fed Easing Liquidity in Funding Markets - US Market up more than 2%
Fed Easing Liquidity in Funding Markets
The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief to cash-strapped financial institutions, a coordinated action with other central banks aimed at easing a global credit crises that threatens to push the U.S. economy into its first recession since 2001
Washington – The U.S. Federal Reserve announced that G-10 central banks are continuing to work together to address liquidity pressures, with the Fed expanding its securities lending program by $200 billion.
Under the new Term Securities Lending Facility (TSLF), the Fed will lend up to $200 billion in Treasury securities to primary dealers secured for a term of 28 days (rather than overnight, as in the existing program) by a pledge of other securities, including federal agency debt, federal agency residential mortgage-backed securities (MBS) and non-agency AAA/Aaa-rated private-label residential MBS.
The TSLF is intended to promote liquidity in the financing markets for Treasury and other collateral and to foster the more general functioning of financial markets.
Securities will be made available through an auction process, held on a weekly basis beginning on March 27, 2008.
The FOMC also authorized increases in its existing temporary reciprocal currency arrangements, also known as swap lines, with the European Central Bank and the Swiss National Bank. These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and SNB respectively, representing increases of $10 billion and $2 billion.
The FOMC extended the term of these swap lines through Sept. 30, 2008.
Joining the Fed in the announcement are the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank.
US Markets Surge
@7:20PM IST
Dow 11,986.66 +246.51 +2.10%
Nasdaq 2,215.19 +45.85 +2.11%
S&P 500 1,300.00 +26.63 +2.09%
Europe Markets Surge after US@7:20PM IST
FTSE 100 5,760.10 +131.00 +2.33%
DAX 6,597.64 +149.56 +2.32%
CAC 40 4,677.69 +110.70 +2.42%
The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief to cash-strapped financial institutions, a coordinated action with other central banks aimed at easing a global credit crises that threatens to push the U.S. economy into its first recession since 2001
Washington – The U.S. Federal Reserve announced that G-10 central banks are continuing to work together to address liquidity pressures, with the Fed expanding its securities lending program by $200 billion.
Under the new Term Securities Lending Facility (TSLF), the Fed will lend up to $200 billion in Treasury securities to primary dealers secured for a term of 28 days (rather than overnight, as in the existing program) by a pledge of other securities, including federal agency debt, federal agency residential mortgage-backed securities (MBS) and non-agency AAA/Aaa-rated private-label residential MBS.
The TSLF is intended to promote liquidity in the financing markets for Treasury and other collateral and to foster the more general functioning of financial markets.
Securities will be made available through an auction process, held on a weekly basis beginning on March 27, 2008.
The FOMC also authorized increases in its existing temporary reciprocal currency arrangements, also known as swap lines, with the European Central Bank and the Swiss National Bank. These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and SNB respectively, representing increases of $10 billion and $2 billion.
The FOMC extended the term of these swap lines through Sept. 30, 2008.
Joining the Fed in the announcement are the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank.
US Markets Surge
@7:20PM IST
Dow 11,986.66 +246.51 +2.10%
Nasdaq 2,215.19 +45.85 +2.11%
S&P 500 1,300.00 +26.63 +2.09%
Europe Markets Surge after US@7:20PM IST
FTSE 100 5,760.10 +131.00 +2.33%
DAX 6,597.64 +149.56 +2.32%
CAC 40 4,677.69 +110.70 +2.42%
Indian Market today
The 30-share BSE Sensex gained 199.43 points or 1.25% at 16,123.15.
It opened slightly lower at 15,778.27 and slipped further to touch
a low of 15,739.05 in early trade. At the day's low, the Sensex
lost 184.67 points. It gained 244.41 points at day's high of
16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty advanced 65.50 points or 1.36% at
4,865.90. Nifty March 2008 futures were at 4846.30, a discount of
19.60 points as compared to spot closing
The market breadth was strong: On BSE 2,070 shares advanced as
compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.32% to 6,992.84 and the BSE Small-Cap
index gained 3.75% to 8,557.72. Both these indices outperformed the
Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6896
crore yesterday, 10 March 2008.
Turnover in NSE's futures & options segment declined to Rs 38176.25
crore as compared to Rs 42402.30 crore yesterday, 10 March 2008.
Most sectoral indices on BSE posted gains. The BSE Consumer
Durables index (up 2.75% to 4,259.52), the BSE Power (up 5.11% to
3,271.52), the BSE Capital Goods index (up 5.39% at 14,060.65), the
BSE Realty index (up 6.76% at 8,226.89), the BSE Metal index (up
1.73% to 16,072.74), the BSE Oil & Gas index (up 3.28% to
10,560.64), and the BSE PSU index (up 3.35% to 7,867.91),
outperformed the Sensex.
The BSE IT index (down 0.62% to 3,548.78), the BSE FMCG index (up
0.65% at 2,204.41), the BSE Health Care index (up 0.95% at
3,833.51), the BSE TecK index (down 0.47% to 3,055.70), the BSE
Bankex (up 0.58% at 8,487.24), the BSE Auto (up 0.33% at 4,669.34),
underperformed the Sensex
Shares from real estate sector surged on fresh buying. India's
largest real estate developer DLF surged 10.53% to Rs 752 on 10.58
lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs
681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech
(up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback
after sell-off on previous day. India's largest private sector
engineering & construction company in terms of order book galloped
6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on
concerns of losses from commodity hedging for the fiscal year
ending March 2008.
India's largest engineering & construction company in terms of
order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after
hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India's second largest two wheeler maker by sales Bajaj Auto eased
from day's high of Rs 2140. It settled 4.80% higher at Rs 2078. The
stock surged ahead of record date of 25 March 2008 for effecting
the scheme of arrangement.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries advanced 3.16%
to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply
after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy
Laboratories (up 4.73% to Rs 453.90), were the other gainers from
Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India
lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser
from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to
Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs
390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05),
were the other losers from Sensex pack.
Tata Motors dropped 2.36% to Rs 658. The company's board approved
raising additional long-term funds of up to Rs 4000 crore.
Shares from sugar sector surged on momentum buying. Shree Renuka
Sugars (up 31.36% to Rs 1160), Bajaj Hindustan (up 12.73% to Rs
236), Balrampur Chini Mills (up 10.51% to Rs 95.65), and Sakthi
Sugars (up 13.60% to Rs 74.35), surged on high volumes.
Reliance Energy was the top traded counter on BSE with turnover of
Rs 596.69 crore followed by RNRL (Rs 319.06 crore), GSS America
Infotech (Rs 311.81 crore), Reliance Petroleum (Rs 280.18 crore)
and Reliance Industries (Rs 208.20 crore) in that order.
Among the side counters, English Indian Clays (up 20% to Rs
1006.55), Shakti Pumps (up 20% to Rs 134.20), Deepak Fertilisers
(up 20% to Rs 105.75), SKY Industries (up 20% to Rs 59.20), and
Noida Toll Bridge (up 20% to Rs 43.55), surged.
However Network 18 Fincap (down 13.20% to Rs 310), Poddar Pigments
(down 10% to Rs 36.50), and Midas Pharma (down 10% to Rs 12.65),
slipped
Kotak Mahindra Bank vaulted 10.68% to Rs 679 after the private
sector bank denied reports of its books in a special audit by
Reserve Bank of India.
Orbit Corporation jumped 11.05% to Rs 534 after the firm sold a
stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings
for Rs 200 crore. The investment would be used to develop township
projects in metropolitan region.
GAIL (India) rose 6.25% to Rs 418.50 on reports the company will
consider issuing bonus shares in two to three months. According to
reports, the company has planned a capital expenditure of Rs 4,200
crore for the full year ending March 2009, up from Rs 2,300 crore
this year.
It opened slightly lower at 15,778.27 and slipped further to touch
a low of 15,739.05 in early trade. At the day's low, the Sensex
lost 184.67 points. It gained 244.41 points at day's high of
16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty advanced 65.50 points or 1.36% at
4,865.90. Nifty March 2008 futures were at 4846.30, a discount of
19.60 points as compared to spot closing
The market breadth was strong: On BSE 2,070 shares advanced as
compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.32% to 6,992.84 and the BSE Small-Cap
index gained 3.75% to 8,557.72. Both these indices outperformed the
Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6896
crore yesterday, 10 March 2008.
Turnover in NSE's futures & options segment declined to Rs 38176.25
crore as compared to Rs 42402.30 crore yesterday, 10 March 2008.
Most sectoral indices on BSE posted gains. The BSE Consumer
Durables index (up 2.75% to 4,259.52), the BSE Power (up 5.11% to
3,271.52), the BSE Capital Goods index (up 5.39% at 14,060.65), the
BSE Realty index (up 6.76% at 8,226.89), the BSE Metal index (up
1.73% to 16,072.74), the BSE Oil & Gas index (up 3.28% to
10,560.64), and the BSE PSU index (up 3.35% to 7,867.91),
outperformed the Sensex.
The BSE IT index (down 0.62% to 3,548.78), the BSE FMCG index (up
0.65% at 2,204.41), the BSE Health Care index (up 0.95% at
3,833.51), the BSE TecK index (down 0.47% to 3,055.70), the BSE
Bankex (up 0.58% at 8,487.24), the BSE Auto (up 0.33% at 4,669.34),
underperformed the Sensex
Shares from real estate sector surged on fresh buying. India's
largest real estate developer DLF surged 10.53% to Rs 752 on 10.58
lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs
681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech
(up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback
after sell-off on previous day. India's largest private sector
engineering & construction company in terms of order book galloped
6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on
concerns of losses from commodity hedging for the fiscal year
ending March 2008.
India's largest engineering & construction company in terms of
order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after
hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India's second largest two wheeler maker by sales Bajaj Auto eased
from day's high of Rs 2140. It settled 4.80% higher at Rs 2078. The
stock surged ahead of record date of 25 March 2008 for effecting
the scheme of arrangement.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries advanced 3.16%
to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply
after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy
Laboratories (up 4.73% to Rs 453.90), were the other gainers from
Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India
lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser
from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to
Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs
390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05),
were the other losers from Sensex pack.
Tata Motors dropped 2.36% to Rs 658. The company's board approved
raising additional long-term funds of up to Rs 4000 crore.
Shares from sugar sector surged on momentum buying. Shree Renuka
Sugars (up 31.36% to Rs 1160), Bajaj Hindustan (up 12.73% to Rs
236), Balrampur Chini Mills (up 10.51% to Rs 95.65), and Sakthi
Sugars (up 13.60% to Rs 74.35), surged on high volumes.
Reliance Energy was the top traded counter on BSE with turnover of
Rs 596.69 crore followed by RNRL (Rs 319.06 crore), GSS America
Infotech (Rs 311.81 crore), Reliance Petroleum (Rs 280.18 crore)
and Reliance Industries (Rs 208.20 crore) in that order.
Among the side counters, English Indian Clays (up 20% to Rs
1006.55), Shakti Pumps (up 20% to Rs 134.20), Deepak Fertilisers
(up 20% to Rs 105.75), SKY Industries (up 20% to Rs 59.20), and
Noida Toll Bridge (up 20% to Rs 43.55), surged.
However Network 18 Fincap (down 13.20% to Rs 310), Poddar Pigments
(down 10% to Rs 36.50), and Midas Pharma (down 10% to Rs 12.65),
slipped
Kotak Mahindra Bank vaulted 10.68% to Rs 679 after the private
sector bank denied reports of its books in a special audit by
Reserve Bank of India.
Orbit Corporation jumped 11.05% to Rs 534 after the firm sold a
stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings
for Rs 200 crore. The investment would be used to develop township
projects in metropolitan region.
GAIL (India) rose 6.25% to Rs 418.50 on reports the company will
consider issuing bonus shares in two to three months. According to
reports, the company has planned a capital expenditure of Rs 4,200
crore for the full year ending March 2009, up from Rs 2,300 crore
this year.
Tuesday, March 11, 2008
Asian Markets Flat after lower opening
Asian Markets trading flat after recovering from lows except Hangseng which is down by 1.5%. Indian market may open negative but will be flat and range bound
Nikkei 225 12,549.33 +17.20 +0.14%
Hang Seng 22,371.93 -333.12 -1.47%
Straits Times 2,833.45 -3.14 -0.11%
Nikkei 225 12,549.33 +17.20 +0.14%
Hang Seng 22,371.93 -333.12 -1.47%
Straits Times 2,833.45 -3.14 -0.11%
Stocks Slide on Mixed News, Surging Oil - US market Closes in RED
Wall Street sank Monday as oil's surge above $108 a barrel and more worrisome signs for the financial sector led investors to extend last week's losses. The Dow Jones industrial average fell more than 150 points, bringing its three-day loss to nearly 515, while broader indexes showed steeper percentage losses
US market Closes in RED
Dow 11,740.15 -153.54 -1.29%
Nasdaq 2,169.34 -43.15 -1.95%
S&P 500 1,273.37 -20.00 -1.55%
US market Closes in RED
Dow 11,740.15 -153.54 -1.29%
Nasdaq 2,169.34 -43.15 -1.95%
S&P 500 1,273.37 -20.00 -1.55%
IPO Listings and subscription Details
Rural Electrification Corporation Ltd IPO Listing Info:
IPO Listing Date: Wednesday, March 12, 2008
NSE Symbol: RECLTD
ISIN: INE020B01018
Issue Price: Rs 105/-
Face Value: Rs 10/- Per Equity Share
V-Guard Industries Ltd Listing Info:
IPO Listing Date: Thursday, March 13, 2008
BSE Script Code: 532953
NSE Symbol: VGUARD
Listing in: B Group of securities
ISIN: INE951I01019
Issue Price: Rs 82/-
Face Value: Rs 10/- Per Equity Share
Gammon Infra Projects Ltd IPO subscribed 0.64 times (0.0046 times in retail) on its 1st day. Issue closing on March 13, 2008.
IPO Listing Date: Wednesday, March 12, 2008
NSE Symbol: RECLTD
ISIN: INE020B01018
Issue Price: Rs 105/-
Face Value: Rs 10/- Per Equity Share
V-Guard Industries Ltd Listing Info:
IPO Listing Date: Thursday, March 13, 2008
BSE Script Code: 532953
NSE Symbol: VGUARD
Listing in: B Group of securities
ISIN: INE951I01019
Issue Price: Rs 82/-
Face Value: Rs 10/- Per Equity Share
Gammon Infra Projects Ltd IPO subscribed 0.64 times (0.0046 times in retail) on its 1st day. Issue closing on March 13, 2008.
Stock calls for 11th March
Some stocks like AMBUJACEM,SUZLON,JPASSOCIAT,PRAJ IND, RPL,GMRINFRA, CAIRN,ISPATIND, L&T, IDFC,TTML, TITAN, GIPCL, IDEA looking good for Tuesday.. We wil wait global cues for tomorrows exact trend
NIFTY Views for 11 March
todays Market
The two niche indices, BSE Sensex and S&P CNX Nifty, saw divergent
trend with the later posting gains helped by spurt in non-Sensex
constituents viz. Reliance Petroleum and Cairn India. But a key
reason for the divergence of the two indices was a sharp fall in
L&T. L&T has a much higher weightage of 7.18% in Sensex compared to
the stock's 3.16% weightage in Nifty.
Outlook for Tomorrow
NIFTY witnessed a nice short covering rally today, but the short covering could not take it past the 4800 resistance levels ..
If 4800 is broken on the upside , then too am skeptical as we have further resistances at 5150-5175 levels
The two niche indices, BSE Sensex and S&P CNX Nifty, saw divergent
trend with the later posting gains helped by spurt in non-Sensex
constituents viz. Reliance Petroleum and Cairn India. But a key
reason for the divergence of the two indices was a sharp fall in
L&T. L&T has a much higher weightage of 7.18% in Sensex compared to
the stock's 3.16% weightage in Nifty.
Outlook for Tomorrow
NIFTY witnessed a nice short covering rally today, but the short covering could not take it past the 4800 resistance levels ..
If 4800 is broken on the upside , then too am skeptical as we have further resistances at 5150-5175 levels
Performace of 10th Ideas
GMR Infra @ 140-148 Closed 154.20
THOMAS COOK (INDIA) LTD @88-90 Closed 93.00
Gitanjali Gems @ 230-248 Closed 264
REL @ 1000-1150 closed 1,257.30
Buy Central Bank of India Target price : 250 in one year Closed 79.10
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower -- reached 4650
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181. reached 205
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208 reached 200
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755. reached 825
Redington India Ltd. Sell SL 320 Target 280/260/-- Reached 280
Buy RPL @145 target 155/158/160 -- 165.40 close All targets reached
Buy Rpower@310 target 325/330/350 --335.05 close 2nd target reached
Buy RNRL@94 target 99/101/120/140 -- 107.80 close 2nd target reached
Buy RCOM@520 target 535/542/560 -- 559.45 close All targets reached
Buy Voltas@170 target 180/182/184 -- 190.20 close All targets reached
Buy IDBI@90 target 95/98/100 -- 96.15 close 2nd target reached
Buy Hindalco@190 Target 195/198/201 -- 200 high 2nd target reached
Buy Ispat@31 target 32.5/34 -- 34.70 close All targets reached
THOMAS COOK (INDIA) LTD @88-90 Closed 93.00
Gitanjali Gems @ 230-248 Closed 264
REL @ 1000-1150 closed 1,257.30
Buy Central Bank of India Target price : 250 in one year Closed 79.10
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower -- reached 4650
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181. reached 205
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208 reached 200
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755. reached 825
Redington India Ltd. Sell SL 320 Target 280/260/-- Reached 280
Buy RPL @145 target 155/158/160 -- 165.40 close All targets reached
Buy Rpower@310 target 325/330/350 --335.05 close 2nd target reached
Buy RNRL@94 target 99/101/120/140 -- 107.80 close 2nd target reached
Buy RCOM@520 target 535/542/560 -- 559.45 close All targets reached
Buy Voltas@170 target 180/182/184 -- 190.20 close All targets reached
Buy IDBI@90 target 95/98/100 -- 96.15 close 2nd target reached
Buy Hindalco@190 Target 195/198/201 -- 200 high 2nd target reached
Buy Ispat@31 target 32.5/34 -- 34.70 close All targets reached
Monday, March 10, 2008
Buy time - Intraday calls
Market wil bounce back in the afternoon. only intraday. Book profit/loss today only.. Strict SL 2% for all
Buy RPL @145 target 155/158/160
Buy Rpower@310 target 325/330/350
Buy RNRL@94 target 99/101/120/140
Buy RCOM@520 target 535/542/560
Buy Voltas@170 target 180/182/184
Buy IDBI@90 target 95/98/100
Buy Hindalco@190 Target 195/198/201
Buy Ispat@31 target 32.5/34
Buy RPL @145 target 155/158/160
Buy Rpower@310 target 325/330/350
Buy RNRL@94 target 99/101/120/140
Buy RCOM@520 target 535/542/560
Buy Voltas@170 target 180/182/184
Buy IDBI@90 target 95/98/100
Buy Hindalco@190 Target 195/198/201
Buy Ispat@31 target 32.5/34
All calls Bang on Target
see as told market opens gapdown.. at 10AM it is down by 85.45 (1.79%)
Essar oil 1st target crossed.. short given at 218 now trading at 203.40
Omaxe reached both the targets. Sell below 222 SL 223 target 220.50 / 208
now at 202.00 went min 201.35
RENUKA SUGAR- SL 1012 and target is 862 first target reached.. now at 842.35 41
Redington India Ltd. Sell SL 320 Target 280/260/-- First target reached trading at 280, Book partial in all. Move SL to accordingly
Essar oil 1st target crossed.. short given at 218 now trading at 203.40
Omaxe reached both the targets. Sell below 222 SL 223 target 220.50 / 208
now at 202.00 went min 201.35
RENUKA SUGAR- SL 1012 and target is 862 first target reached.. now at 842.35 41
Redington India Ltd. Sell SL 320 Target 280/260/-- First target reached trading at 280, Book partial in all. Move SL to accordingly
Asian Market 07:30AM 10th March
Asian Markets open gap down
Nikkei 225 12,666.07 -116.73 -0.91%
Hang Seng 22,501.33 not open yet
Straits Times 2,816.18 -50.10 -1.75%
Even Indian Market wil open gap down
Nikkei 225 12,666.07 -116.73 -0.91%
Hang Seng 22,501.33 not open yet
Straits Times 2,816.18 -50.10 -1.75%
Even Indian Market wil open gap down
More calls - Medium Term
RCOM, SUZLON, BHARTIARTL, HINDUNILVR, INDIANB, VOLTAS,
GESHIP, NITCO, NICOLASPIR, BRFL, BHARATFORG, DIVISLAB,
JINDALSAW, BOC, MCDOWELL-N, TATATEA, DCHL, STCINDIA looking nice in this market
GMR Infra @ 140-148
THOMAS COOK (INDIA) LTD @88-90
Gitanjali Gems @ 230-248
REL @ 1000-1150
Buy Central Bank of India Target price : 250 in one year
GESHIP, NITCO, NICOLASPIR, BRFL, BHARATFORG, DIVISLAB,
JINDALSAW, BOC, MCDOWELL-N, TATATEA, DCHL, STCINDIA looking nice in this market
GMR Infra @ 140-148
THOMAS COOK (INDIA) LTD @88-90
Gitanjali Gems @ 230-248
REL @ 1000-1150
Buy Central Bank of India Target price : 250 in one year
Sunday, March 9, 2008
Market outlook for Monday 10th march and coming days
Friday's break down from support is leading the market further downside...
Expect a down word selling on Monday
weeks pics
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181.
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755.
Redington India Ltd. Sell SL 320 Target 280/260/--
Expect a down word selling on Monday
weeks pics
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181.
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755.
Redington India Ltd. Sell SL 320 Target 280/260/--
V-Guard Industries Limited IPO Allotment Status
V-Guard Industries Limited IPO Allotment Status
CLICK HERE TO CHECK
CLICK HERE TO CHECK
IDFC to buy StanChart India MF biz
Mumbai, March 7 Infrastructure Development Finance Co Ltd (IDFC) has emerged winner for taking over Stan Chart’s mutual fund business in India.
Standard Chartered PLC has agreed to sell Standard Chartered Trustee Company Pvt Ltd and Standard Chartered Asset Management Co, which handles its mutual fund manufacturing business in India, to IDFC for a total cash consideration of $205 million (over Rs 820 crore). The consideration is before deductions for local taxes and deal expenses.
UBS pull out
IDFC will thus be paying about 70 per cent more that what UBS Global Asset Management, a leading international asset management company, had agreed to pay for the acquisition last year. UBS had struck the deal for acquiring Stan Chart’s mutual fund business in India for $120 million in January 2007.
However, the transaction, which was to be wrapped up by the second half of 2007, did not materialise, with UBS pulling out of the proposed acquisition after the sale and purchase agreement expired in December last. The deal did not get the required regulatory approvals.
Sources following the deal with IDFC say that the infrastructure finance company was not the highest bidder, but what tilted the balance in its favour was the company’s network in India and its experience in providing financial services.
Standard Chartered said in a statement that the transaction with IDFC does not include its mutual fund distribution business, which it will continue to pursue.
Wider strategy
Mr Jaspal Bindra, Chief Executive Officer, Asia, Standard Chartered, said: “IDFC is a well-respected financial services company and we are delighted to have reached an agreement with them for the sale of this business. Standard Chartered will remain a distributor of asset management products in India.”
Mr Rajiv Lall, Managing Director and Chief Executive Officer of IDFC, added: “We are pleased to acquire a quality asset management platform. This is in line with our wider strategy of broadening our footprint in the asset management business and diversifying our fee-based revenue streams.”
Mr Deepak Parekh, HDFC Chairman, clarified that he will not be in the IDFC mutual fund board.
Core businesses
IDFC’s existing businesses include project finance, principal investments, asset management (for third party funds), investment banking, institutional broking and advisory services. As on December 31, 2007, IDFC’s shareholders included the Government of India (20 per cent), foreign investors 49 per cent and public/others 31 per cent. IDFC’s market capitalisation is about $5.8 billion.
The transaction, which is subject to certain regulatory approvals, is expected to be completed in the second quarter of 2008.
Standard Chartered PLC has agreed to sell Standard Chartered Trustee Company Pvt Ltd and Standard Chartered Asset Management Co, which handles its mutual fund manufacturing business in India, to IDFC for a total cash consideration of $205 million (over Rs 820 crore). The consideration is before deductions for local taxes and deal expenses.
UBS pull out
IDFC will thus be paying about 70 per cent more that what UBS Global Asset Management, a leading international asset management company, had agreed to pay for the acquisition last year. UBS had struck the deal for acquiring Stan Chart’s mutual fund business in India for $120 million in January 2007.
However, the transaction, which was to be wrapped up by the second half of 2007, did not materialise, with UBS pulling out of the proposed acquisition after the sale and purchase agreement expired in December last. The deal did not get the required regulatory approvals.
Sources following the deal with IDFC say that the infrastructure finance company was not the highest bidder, but what tilted the balance in its favour was the company’s network in India and its experience in providing financial services.
Standard Chartered said in a statement that the transaction with IDFC does not include its mutual fund distribution business, which it will continue to pursue.
Wider strategy
Mr Jaspal Bindra, Chief Executive Officer, Asia, Standard Chartered, said: “IDFC is a well-respected financial services company and we are delighted to have reached an agreement with them for the sale of this business. Standard Chartered will remain a distributor of asset management products in India.”
Mr Rajiv Lall, Managing Director and Chief Executive Officer of IDFC, added: “We are pleased to acquire a quality asset management platform. This is in line with our wider strategy of broadening our footprint in the asset management business and diversifying our fee-based revenue streams.”
Mr Deepak Parekh, HDFC Chairman, clarified that he will not be in the IDFC mutual fund board.
Core businesses
IDFC’s existing businesses include project finance, principal investments, asset management (for third party funds), investment banking, institutional broking and advisory services. As on December 31, 2007, IDFC’s shareholders included the Government of India (20 per cent), foreign investors 49 per cent and public/others 31 per cent. IDFC’s market capitalisation is about $5.8 billion.
The transaction, which is subject to certain regulatory approvals, is expected to be completed in the second quarter of 2008.
Gammon Infrastructure Projects - New IPO Details
Gammon Infrastructure Projects
Issue details
Issue opens : March 10, 2008
Issue closes : March 13, 2008
Issue size : 1.65 crore equity shares
Reservation for employees : 16.55 lakh shares
Fresh issue to public : 1.49 crore shares
Face value : Rs10 each
Break-up of fresh issue
to public:
- QIB's portion : 89.37 lakh shares
- Retail portion : 44.69 lakh shares
- Non-institutional portion : 14.89 lakh shares
Price band : Rs167-200
Issue details
Issue opens : March 10, 2008
Issue closes : March 13, 2008
Issue size : 1.65 crore equity shares
Reservation for employees : 16.55 lakh shares
Fresh issue to public : 1.49 crore shares
Face value : Rs10 each
Break-up of fresh issue
to public:
- QIB's portion : 89.37 lakh shares
- Retail portion : 44.69 lakh shares
- Non-institutional portion : 14.89 lakh shares
Price band : Rs167-200
US Stocks Tumble Following Jobs Report - Further Bad news for indian Markets
Wall Street ended a dreadful week with another big loss Friday after the government surprised investors with a report that employers eliminated 63,000 jobs last month. The news compounded fears that the U.S. economy, already hampered by an unrelenting credit crisis, is succumbing to recession.
US Markets End in RED
Dow 11,893.69 -146.70 -1.22%
Nasdaq 2,212.49 -8.01 -0.36%
S&P 500 1,293.37 -10.97 -0.84%
Europe Markets Too ended in RED
FTSE 100 5,699.90 -66.50 -1.15%
DAX 6,513.99 -77.32 -1.17%
CAC 40 4,618.96 -59.09 -1.26%
US Markets End in RED
Dow 11,893.69 -146.70 -1.22%
Nasdaq 2,212.49 -8.01 -0.36%
S&P 500 1,293.37 -10.97 -0.84%
Europe Markets Too ended in RED
FTSE 100 5,699.90 -66.50 -1.15%
DAX 6,513.99 -77.32 -1.17%
CAC 40 4,618.96 -59.09 -1.26%
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