According to the data released by NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 1203.49 crore in futures and options segments on Monday, August 08, 2011.
FII’s were buyers of index futures to the tune of Rs 126.99 crore and they bought index options worth Rs 546.65 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 531.65 crore and they sold stock options to the tune of Rs 1.80 crore.
Cumulative FII positions as percentage of total gross market position in the derivative segment as on August 08, 2011 is 35.38%.
Tuesday, August 9, 2011
ONGC up in sliding market
ONGC is currently trading at Rs. 284.40, up by 1.80 points or 0.64% from its previous closing of Rs. 282.60 on the BSE.
The scrip opened at Rs. 278.90 and has touched a high and low of Rs. 285.65 and Rs. 278.90 respectively. So far 1,41,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 368.00 on 28-Sep-2010 and a 52 week low of Rs. 226.95 on 15-Jul-2011.
Last one week high and low of the scrip stood at Rs. 285.65 and Rs. 267.55 respectively. The current market cap of the company is Rs. 2,43,318.00 crore.
The promoters holding in the company stood at 74.14% while Institutions and Non-Institutions held 12.21% and 13.65% respectively.
The company’s net profit rose by 11.9% to Rs 4,094.90 crore, for the quarter ended June 30, 2011 against Rs 3661.14 crore for the same quarter last year. The total income has increased from Rs 14230.22 crore for the quarter ended June 30, 2010 to Rs 17128.89 crore for the quarter under review up by 20.37%.
Company’s crude oil production dropped 2% to 5.933 million tonne and after including joint venture projects did its output show a 2.3% rise to 6.758 million tonne. Natural gas dropped 2.7% to 5.603 billion cubic meters.
The scrip opened at Rs. 278.90 and has touched a high and low of Rs. 285.65 and Rs. 278.90 respectively. So far 1,41,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 368.00 on 28-Sep-2010 and a 52 week low of Rs. 226.95 on 15-Jul-2011.
Last one week high and low of the scrip stood at Rs. 285.65 and Rs. 267.55 respectively. The current market cap of the company is Rs. 2,43,318.00 crore.
The promoters holding in the company stood at 74.14% while Institutions and Non-Institutions held 12.21% and 13.65% respectively.
The company’s net profit rose by 11.9% to Rs 4,094.90 crore, for the quarter ended June 30, 2011 against Rs 3661.14 crore for the same quarter last year. The total income has increased from Rs 14230.22 crore for the quarter ended June 30, 2010 to Rs 17128.89 crore for the quarter under review up by 20.37%.
Company’s crude oil production dropped 2% to 5.933 million tonne and after including joint venture projects did its output show a 2.3% rise to 6.758 million tonne. Natural gas dropped 2.7% to 5.603 billion cubic meters.
Gold hits record for 2nd day as investors dump stocks
Bullion gained 1.7% on Tuesday, roaring to all-time highs for a second consecutive session as equity markets dived on growing fears of a global recession after last week’s cut in the United States’s credit rating.
Stock markets in Asia plummeted and the Swiss franc held near a record high after investors fled riskier assets in a global sell-off ignited by fears that political leaders are unable to tackle debt crises in Europe and the United States.
As investors exited stocks for bonds and bullion, holdings of the SPDR Gold Trust registered their biggest one-day gain in more than a year on Monday, sending the price of gold to a premium over traditionally more expensive platinum.
US gold futures for December struck a record around $1,746 an ounce, while cash gold hit an all-time high about $1,742 an ounce, its 12th record in 20 sessions.
“Markets are now worried about another global recession. Out of Europe, French bond yields have widened on expectation of sovereign debt downgrade because of the country’s exposure to peripheral European debt,” said Natalie Robertson, a commodities strategist at ANZ.
“I think everyone was also looking at the 7 percent drop in the S&P 500. The market was very concerned over the global economy. Gold is now more expensive than platinum, and the last time this happened was back in December 2008. That’s an interesting dynamic.”
Gold rallied more than 3% on Monday, exceeding $1,700 an ounce for the first time after Standard & Poor’s cut the U.S. credit rating to AA-plus, setting off an investor stampede for safety.
The cost of insuring French debt against default rose on Monday after the downgrade raised questions over how long other countries could hold onto their top-notch ratings.
Silver ticked down below $40 an ounce after Monday’s gains. Platinum and sister metal palladium tracked equities lower because of their industrial use as auto catalysts and fears a global recession could slash automobile demand.
Adjusted for inflation, gold is one of the few elements of the commodity complex trading below its all-time highs, estimated at $2,500 an ounce.
The CBOE Gold ETF Volatility Index , often referred to as the “Gold VIX” and based on SPDR Gold Trust options, jumped 30% to its highest since late 2010.
Investors await the Federal Open Market Committee meeting on Tuesday for clues to whether the Fed might ease monetary policy further.
“The market’s near-term focus will be on further ratings downgrades to come,” said Tom Pawlicki, precious metals and energy analyst at MF Global.
“The FOMC meeting is today, and any potential action to implement further easing will also offer support. In the background, support will come from central bank buying, investment inflows, and weakness in economic data.”
Economists at top financial institutions have scaled back expectations for US economic growth this year and offer a nearly one in three chance the Fed will embark on another round of Treasuries purchases in the next two years, a Reuters poll found.
JP Morgan said on Monday it expected spot gold to climb to $2,500 an ounce or higher by year-end, on very high volatility, following the downgrade of U.S. debt. The U.S. bank said its previous estimate of $1,800 was “too conservative”.
The prospect of an even longer period of low US interest rates prompted Goldman Sachs to raise its three-month forecast for the gold price by about $100.
Stock markets in Asia plummeted and the Swiss franc held near a record high after investors fled riskier assets in a global sell-off ignited by fears that political leaders are unable to tackle debt crises in Europe and the United States.
As investors exited stocks for bonds and bullion, holdings of the SPDR Gold Trust registered their biggest one-day gain in more than a year on Monday, sending the price of gold to a premium over traditionally more expensive platinum.
US gold futures for December struck a record around $1,746 an ounce, while cash gold hit an all-time high about $1,742 an ounce, its 12th record in 20 sessions.
“Markets are now worried about another global recession. Out of Europe, French bond yields have widened on expectation of sovereign debt downgrade because of the country’s exposure to peripheral European debt,” said Natalie Robertson, a commodities strategist at ANZ.
“I think everyone was also looking at the 7 percent drop in the S&P 500. The market was very concerned over the global economy. Gold is now more expensive than platinum, and the last time this happened was back in December 2008. That’s an interesting dynamic.”
Gold rallied more than 3% on Monday, exceeding $1,700 an ounce for the first time after Standard & Poor’s cut the U.S. credit rating to AA-plus, setting off an investor stampede for safety.
The cost of insuring French debt against default rose on Monday after the downgrade raised questions over how long other countries could hold onto their top-notch ratings.
Silver ticked down below $40 an ounce after Monday’s gains. Platinum and sister metal palladium tracked equities lower because of their industrial use as auto catalysts and fears a global recession could slash automobile demand.
Adjusted for inflation, gold is one of the few elements of the commodity complex trading below its all-time highs, estimated at $2,500 an ounce.
The CBOE Gold ETF Volatility Index , often referred to as the “Gold VIX” and based on SPDR Gold Trust options, jumped 30% to its highest since late 2010.
Investors await the Federal Open Market Committee meeting on Tuesday for clues to whether the Fed might ease monetary policy further.
“The market’s near-term focus will be on further ratings downgrades to come,” said Tom Pawlicki, precious metals and energy analyst at MF Global.
“The FOMC meeting is today, and any potential action to implement further easing will also offer support. In the background, support will come from central bank buying, investment inflows, and weakness in economic data.”
Economists at top financial institutions have scaled back expectations for US economic growth this year and offer a nearly one in three chance the Fed will embark on another round of Treasuries purchases in the next two years, a Reuters poll found.
JP Morgan said on Monday it expected spot gold to climb to $2,500 an ounce or higher by year-end, on very high volatility, following the downgrade of U.S. debt. The U.S. bank said its previous estimate of $1,800 was “too conservative”.
The prospect of an even longer period of low US interest rates prompted Goldman Sachs to raise its three-month forecast for the gold price by about $100.
Hang Seng down 6%
At 9:53 am (IST), Asian markets were trading lower but managed to recoup some of the losses.
Hong Kong's Hang Seng fell 6.01% or 1232.06 points at 19,258.51.
Japan's Nikkei was down 3.69% or 335.84 points at 8,761.72.
South Korea's Seoul Composite slipped 6.75% or 126.15 points at 1,743.30.
Taiwan's Taiwan Weighted shed 1.18% or 89.28 points at 7,463.52
Hong Kong's Hang Seng fell 6.01% or 1232.06 points at 19,258.51.
Japan's Nikkei was down 3.69% or 335.84 points at 8,761.72.
South Korea's Seoul Composite slipped 6.75% or 126.15 points at 1,743.30.
Taiwan's Taiwan Weighted shed 1.18% or 89.28 points at 7,463.52
Nifty back in 5k Mark
BSE benchmark Sensex continues to be under extreme pressure just as the rest of the world. Asian Indices continued their fall for the second day as sentiments post US downgrade remained fragile. But the Nifty managed to get back above the 5000-mark.
L&T Finance Holdings Limited IPO allotment status
Check L&T Finance Holdings Limited IPO allotment status Here. If you have difficulties finding the L&T Finance Holdings Limited IPO allotment status, please visit the website of the registrar.
Bloodbath on D-Street; Sensex tumbles 300 points
The Indian markets spiralled downwards, extending losses for the sixth straight session, triggered by fears that political leaders are failing to tackle debt crises in Europe and the United States. The Sensex fell over 500 points at the start, while Nifty was trading below 5000 level since 2010. The Midcap and Smallcap indices too fell over 2% in line with the Sensex.
The advance to decline ration was extremely weak, with 88% shares falling, 10% rising and 2% remained unchanged.
IT, Metal, TECk and Realty were among the major losers, declining more than 3%.
All the Sensex shares were trading down except ONGC rose by 0.88%. Wipro slipped by 4.95%, TCS down by 4.91% and Tata Steel dipped by 4.67%. Rest fell between 0.67-4.40%
At 9.35 am, the Sensex was trading at 16580, 409 points lower and the Nifty was trading at 4995, down by 122 points.
The advance to decline ration was extremely weak, with 88% shares falling, 10% rising and 2% remained unchanged.
IT, Metal, TECk and Realty were among the major losers, declining more than 3%.
All the Sensex shares were trading down except ONGC rose by 0.88%. Wipro slipped by 4.95%, TCS down by 4.91% and Tata Steel dipped by 4.67%. Rest fell between 0.67-4.40%
At 9.35 am, the Sensex was trading at 16580, 409 points lower and the Nifty was trading at 4995, down by 122 points.
Monday, August 8, 2011
Oil sinks in Asia
Crude prices fell more than two percent in Asia Monday, with sentiment hit by Standard & Poor’s decision last week to cut Washington’s top-notch credit rating for the first time, analysts said.
In morning trade, New York’s main contract light sweet crude for September delivery tumbled $2.33, or 2.68%, to $84.55 a barrel, from its closing price on Friday.
Brent North Sea crude for September delivery sank $2.91, or 2.66%, to $106.46.
“What we do feel is the re-rating of the debt in the US has knocked confidence out of the market,” said Jonathan Barratt, Sydney-based managing director with Commodity Broking Services.
“With crude where it is at the moment, that confidence will affect demand or expectations of demand in the market,” he told AFP.
The United States, the world’s largest oil consumer, saw its top-flight AAA credit rating downgraded for the first time when S&P on Friday cut it to AA+ with a negative outlook on concerns over its debt.
“The announcement was not really a surprise because the S&P had been very clear about what it wanted to see in order for the US to maintain its AAA rating, and the agreement reached last week had not met those criteria,” Barclays Capital said in a report.
“To many observers, it was really a question of when it would happen rather than whether it would, though probably few expected it to be quite so soon.”
US Treasury Secretary Timothy Geithner on Sunday fiercely criticised the agency’s move, saying the world’s largest economy remained strong and resilient.
“I think S&P has shown really terrible judgement and they’ve handled themselves poorly, and they have shown a stunning lack of knowledge about basic US fiscal budget math, and I think they came to exactly the wrong conclusion,” Geithner said in an interview with NBC News and CNBC.
“There is no risk the US would never meet its obligations. We’ve got some challenge ahead of us, but we’ll be able to work through the challenges. We’ll get through this.”
The decline in oil prices mirrored the general volatility in global financial markets shaken by the US rating downgrade.
Asian stocks tumbled in early trade on Monday before clawing back some of their losses following frantic weekend efforts to inject calm.
Financial chiefs and central bankers of the G-7 industrialised nations pledged to “take all necessary measures” in coordinated action to support stability and the European Central Bank said it would buy up eurozone debt.
Fears of a global meltdown, which some see as potentially worse than the 2008 collapse, sent leaders into a flurry of phone calls between Berlin, London, Paris and Washington to stem the tide.
In morning trade, New York’s main contract light sweet crude for September delivery tumbled $2.33, or 2.68%, to $84.55 a barrel, from its closing price on Friday.
Brent North Sea crude for September delivery sank $2.91, or 2.66%, to $106.46.
“What we do feel is the re-rating of the debt in the US has knocked confidence out of the market,” said Jonathan Barratt, Sydney-based managing director with Commodity Broking Services.
“With crude where it is at the moment, that confidence will affect demand or expectations of demand in the market,” he told AFP.
The United States, the world’s largest oil consumer, saw its top-flight AAA credit rating downgraded for the first time when S&P on Friday cut it to AA+ with a negative outlook on concerns over its debt.
“The announcement was not really a surprise because the S&P had been very clear about what it wanted to see in order for the US to maintain its AAA rating, and the agreement reached last week had not met those criteria,” Barclays Capital said in a report.
“To many observers, it was really a question of when it would happen rather than whether it would, though probably few expected it to be quite so soon.”
US Treasury Secretary Timothy Geithner on Sunday fiercely criticised the agency’s move, saying the world’s largest economy remained strong and resilient.
“I think S&P has shown really terrible judgement and they’ve handled themselves poorly, and they have shown a stunning lack of knowledge about basic US fiscal budget math, and I think they came to exactly the wrong conclusion,” Geithner said in an interview with NBC News and CNBC.
“There is no risk the US would never meet its obligations. We’ve got some challenge ahead of us, but we’ll be able to work through the challenges. We’ll get through this.”
The decline in oil prices mirrored the general volatility in global financial markets shaken by the US rating downgrade.
Asian stocks tumbled in early trade on Monday before clawing back some of their losses following frantic weekend efforts to inject calm.
Financial chiefs and central bankers of the G-7 industrialised nations pledged to “take all necessary measures” in coordinated action to support stability and the European Central Bank said it would buy up eurozone debt.
Fears of a global meltdown, which some see as potentially worse than the 2008 collapse, sent leaders into a flurry of phone calls between Berlin, London, Paris and Washington to stem the tide.
Markets extend fall to 3% on weak Asia
Markets extended their fall to 3% on Monday, tracking a selloff in Asian markets after Standard & Poor’s downgraded the US sovereign debt rating and on fears that the world’s largest economy may be sliding back into recession.
At 10:02am, the 30-share BSE index was down 3.1% at 16,771.90 points, with all of its components declining.
The 50-share NSE index fell nearly 3% to 5,056.25 points.
At 10:02am, the 30-share BSE index was down 3.1% at 16,771.90 points, with all of its components declining.
The 50-share NSE index fell nearly 3% to 5,056.25 points.
Rupee falls past 45/$ to 5-week low on outflow worry
The rupee weakened past 45 to the dollar early on Monday for first time in five weeks after a global equities rout following US rating downgrade triggered concerns about foreign fund outflows.
The partially convertible rupee was at Rs. 45.01/02, a level last seen on 28 June. It had ended 0.4% weaker at 44.735/740 on Friday
The partially convertible rupee was at Rs. 45.01/02, a level last seen on 28 June. It had ended 0.4% weaker at 44.735/740 on Friday
US debt: India faces $41 billion exposure
As one of the 15 largest foreign creditors to the US, India’s exposure to the US’ ballooning debt is estimated at $41 billion. While China is the single-largest holder of the US treasury securities with $1.15 trillion, India stands at 14th position according to the US treasury department.
The top five US treasury securities holders as of May are China ($1159.8 billion); Japan ($912.4 bn); UK ($346.5 bn); oil exporters ($229.8 bn); and Brazil ($211.4 bn
)
The top five US treasury securities holders as of May are China ($1159.8 billion); Japan ($912.4 bn); UK ($346.5 bn); oil exporters ($229.8 bn); and Brazil ($211.4 bn
)
Wednesday, August 3, 2011
SBI Rights issue when market conditions favourable
Diwakar Gupta, CFO of SBI said the bank will go for its Rs 20,000-crore rights issue when market conditions turn favourable
Gupta also said that the lending major is engaged in continuous dialogue with the government regarding the rights issue.
On the banks financials, Gupta said, he expects provisioning of Rs 2,100 crore in the first quarter of FY12.
Source: CNBC-TV18
Gupta also said that the lending major is engaged in continuous dialogue with the government regarding the rights issue.
On the banks financials, Gupta said, he expects provisioning of Rs 2,100 crore in the first quarter of FY12.
Source: CNBC-TV18
Gold futures extended gains by more than 1.5%
Gold futures extended gains by more than 1.5% on Wednesday afternoon to hit a record high following strong overseas markets, with help from a weaker rupee at home, which made the dollar-quoted yellow metal expensive, dealers said.
The most-active gold for October delivery on the Multi Commodity Exchange (MCX) was trading 1.70% higher at Rs. 24,211 per 10 grams, after hitting a record of Rs. 24,233. The contract had struck a peak in the previous session.
The most-active gold for October delivery on the Multi Commodity Exchange (MCX) was trading 1.70% higher at Rs. 24,211 per 10 grams, after hitting a record of Rs. 24,233. The contract had struck a peak in the previous session.
Bharti Airtel Q1 net profit down
Bharti Airtel, India’s top mobile phone carrier, on Wednesday reported a bigger-than-expected 28% fall in quarterly profit, hit by losses at its African operations and as costs of its new third-generation network in India weighed.
Shares in Bharti fell more than 4% after the results to their lowest level in more than a week.
India’s long-suffering telecoms sector is back on investors’ radar after companies including Bharti raised call prices recently -- the first such increase in at least two years -- after a vicious price war in the 15-player market had strained their finances.
With more than 850 million mobile connections, India is the world’s second-biggest mobile phone market after China and is adding subscribers at the fastest pace. The market, however, offers some of the world’s cheapest call rates as carriers have traditionally sacrificed profits to chase growth.
Bharti last year ventured into Africa at a time when growth on its home turf was slowing by acquiring most of the mobile African mobile operations of Kuwait’s Zain to become the world’s fifth-biggest mobile carrier by subscribers.
But high costs in Africa have kept the firm’s margins under pressure and it has yet to turn a profit there, although company officials have said the African business is improving.
The company’s overall Africa related net loss in the June quarter was at Rs302 crore.
Bharti, which spent $3.5 billion in an Indian state auction last year to buy 3G and broadband airwaves, is betting on a pick up in premium data services to boost margins in a market where voice calls account for more than 85% of the sector’s revenue.
“In India, the company’s efforts in the area of cost efficiencies have helped arrest the margin decline,” Bharti Airtel chairman Sunil Mittal said in a statement.
“Overall, 2011-12 promises to be an exciting year of transformation.”
New Delhi-based Bharti, nearly a third owned by Southeast Asia’s biggest phone firm, SingTel , said consolidated net profit fell to Rs1,215 crore ($274 million) for its fiscal first quarter ended June from Rs1,682 crore a year earlier, based on international accounting standards.
It was the sixth consecutive quarter of falling profits for the New Delhi-based firm that had 221.2 million mobile users at the end of June in 19 countries across Asia and Africa.
Revenue rose 39% to Rs16,975 crore. A Reuters poll of brokerages had expected net profit of Rs1,518 crore on revenue of Rs16,887 crore.
Monthly average revenue per user (ARPU), a key metric for telecom carriers, from Bharti’s Indian operations fell an annual 12% to Rs190 for the quarter. Africa ARPU saw a drop of 2% on year to $7.3.
Shares in Bharti fell more than 4% after the results to their lowest level in more than a week.
India’s long-suffering telecoms sector is back on investors’ radar after companies including Bharti raised call prices recently -- the first such increase in at least two years -- after a vicious price war in the 15-player market had strained their finances.
With more than 850 million mobile connections, India is the world’s second-biggest mobile phone market after China and is adding subscribers at the fastest pace. The market, however, offers some of the world’s cheapest call rates as carriers have traditionally sacrificed profits to chase growth.
Bharti last year ventured into Africa at a time when growth on its home turf was slowing by acquiring most of the mobile African mobile operations of Kuwait’s Zain to become the world’s fifth-biggest mobile carrier by subscribers.
But high costs in Africa have kept the firm’s margins under pressure and it has yet to turn a profit there, although company officials have said the African business is improving.
The company’s overall Africa related net loss in the June quarter was at Rs302 crore.
Bharti, which spent $3.5 billion in an Indian state auction last year to buy 3G and broadband airwaves, is betting on a pick up in premium data services to boost margins in a market where voice calls account for more than 85% of the sector’s revenue.
“In India, the company’s efforts in the area of cost efficiencies have helped arrest the margin decline,” Bharti Airtel chairman Sunil Mittal said in a statement.
“Overall, 2011-12 promises to be an exciting year of transformation.”
New Delhi-based Bharti, nearly a third owned by Southeast Asia’s biggest phone firm, SingTel , said consolidated net profit fell to Rs1,215 crore ($274 million) for its fiscal first quarter ended June from Rs1,682 crore a year earlier, based on international accounting standards.
It was the sixth consecutive quarter of falling profits for the New Delhi-based firm that had 221.2 million mobile users at the end of June in 19 countries across Asia and Africa.
Revenue rose 39% to Rs16,975 crore. A Reuters poll of brokerages had expected net profit of Rs1,518 crore on revenue of Rs16,887 crore.
Monthly average revenue per user (ARPU), a key metric for telecom carriers, from Bharti’s Indian operations fell an annual 12% to Rs190 for the quarter. Africa ARPU saw a drop of 2% on year to $7.3.
3i Infotech hits 52 Week Low
3i infotech hits 52 Week Low 37.80 today.
It started its downword journey after announcement of final dividend of 15% on July 7th.
It started its downword journey after announcement of final dividend of 15% on July 7th.
Tilaknagar Ind raises based on news update
Tilaknagar Industries Ltd has informed BSE that the Government of Maharashtra vide its letter dated D.O. No. HPC-1008/C.R.123/Ind-8 has decided to confer the status of "Mega Project" to the new manufacturing facilities which, inter-alia, includes 50 KLPD molasses based distillation plant and 100KLPD grain based distillation plant alongwith captive power plant under Package Scheme of Incentives (PSI) 2007.
This will enable the Company to enjoy following benefits:
- Subsidy to the extent of 100% of eligible investment with a period of seven year by way of set off /credit for Tax liability under Maharashtra Value Added Tax Act 2002 and Central Sales Tax Act 1956.
- Electricity duty exemption for the period of 7 years
- 100% exemption from payment of stamp duty
The aforesaid benefits shall be subject to the conditions contained in the aforesaid letter of Government of Maharashtra.
At 11:20 Tilaknagar Ind was at 46.20 (6.45% up)
This will enable the Company to enjoy following benefits:
- Subsidy to the extent of 100% of eligible investment with a period of seven year by way of set off /credit for Tax liability under Maharashtra Value Added Tax Act 2002 and Central Sales Tax Act 1956.
- Electricity duty exemption for the period of 7 years
- 100% exemption from payment of stamp duty
The aforesaid benefits shall be subject to the conditions contained in the aforesaid letter of Government of Maharashtra.
At 11:20 Tilaknagar Ind was at 46.20 (6.45% up)
Inventure Growth to list shares on August 4
Inventure Growth & Securities Ltd IPO shares will list on Thursday, August 04, 2011. Inventure raised capital through IPO of Rs. 81.90 crore from Jul 20, 2011 to Jul 22, 2011. Inventure’s IPO received good response from retail and non institutional investors and managed to oversubscribe subscribed 4.58 times. Company fixed the price for its IPO share on upper end of its price range at Rs 117 per share.
Inventure Securities IPO Listing Information:
Listing Date: Thursday, August 04, 2011
BSE Scrip Code: 533506
NSE Symbol: INVENTURE
Listing In: B Group of Securities
Sector:
ISIN: INE878H01016
Issue Price: Rs. 117.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share
Inventure Securities IPO Listing Information:
Listing Date: Thursday, August 04, 2011
BSE Scrip Code: 533506
NSE Symbol: INVENTURE
Listing In: B Group of Securities
Sector:
ISIN: INE878H01016
Issue Price: Rs. 117.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share
Weak global cues drag Sensex below 18K; tech, banks dip
The benchmark Sensex fell below the psychologically important 18,000-mark while the Nifty tanked below the 5400 level, which was on expected lines. The sell-off was due after heavy fall across the globe on the back of economic worries in the US despite Barack Obama signed debt deal.
The 30-share BSE Sensex was trading at 17,896, down 214 points and the 50-share NSE Nifty fell 66 points to 5390.
Heavyweights like Reliance Industries, Bharti, L&T, TCS, SBI, BHEL and ICICI Bank were down between 1% and 2%.
However, ONGC gained over 1% as it seemed that government may not go for follow-on public route due to prevailing weak market conditions.
GAIL and BPCL were other gainers.
Midcaps like SpiceJet, Jet Airways, Peninsula Land, Shriram City and Allcargo Global were up 2.5-5%. However, KGN Inds, Jubiland Food, Pantaloon Retail, IVRCL and TTK Prestige lost 4-5%.
Credits: money control
The 30-share BSE Sensex was trading at 17,896, down 214 points and the 50-share NSE Nifty fell 66 points to 5390.
Heavyweights like Reliance Industries, Bharti, L&T, TCS, SBI, BHEL and ICICI Bank were down between 1% and 2%.
However, ONGC gained over 1% as it seemed that government may not go for follow-on public route due to prevailing weak market conditions.
GAIL and BPCL were other gainers.
Midcaps like SpiceJet, Jet Airways, Peninsula Land, Shriram City and Allcargo Global were up 2.5-5%. However, KGN Inds, Jubiland Food, Pantaloon Retail, IVRCL and TTK Prestige lost 4-5%.
Credits: money control
Monday, April 11, 2011
ONGC FPO in this quarter, along with PFC and SAIL: Finmin
The issue of independent directors required on the board of oil major ONGC is likely to be resolved soon and the Government plans to offload stake in the company, along with PFC and SAIL, in this quarter itself.
“We are in the process of resolving the independent director issue in ONGC. The follow-on public offer (FPO) of the company is likely to come in the quarter ending June,” a Finance Ministry official told PTI.
ONGC does not meet market regulator Sebi’s listing norms of having equal number of functional and independent directors and the government had planned to withdraw both its nominees from the board to meet the requirement and push the FPO.
But the move would have led to ONGC losing its coveted Navaratna status, which gives the company board autonomy to approve investments of any size for projects, and enables it to invest up to Rs 1,000 crore in a joint venture.
The government plans to sell 5% stake or 427.77 million equity shares through the FPO to raise up to Rs 12,000 crore. It was to hit the market in March, but was deferred.
The official further said that PFC is likely to be the first public issue of the current fiscal, followed by SAIL.
Meanwhile, Disinvestment Secretary Sumit Bose said, “We hope to come out with the public issue of PFC, SAIL and ONGC in the first quarter of the current fiscal.”
State-run Power Finance Corporation’s Rs 6,000-crore FPO is likely to hit the market in the second week of May and the company has already filed the draft red herring prospectus (DRHP) with Sebi.
The government holds 89.78 per cent stake in the firm. It had divested 10 per cent through initial public offer (IPO) in 2007. The company will infuse 15 per cent fresh equity, while the government will dilute its 5 per cent stake.
Besides, the much-awaited Rs 8,000-crore FPO of Steel Authority of India (SAIL) is set to hit the capital market by the end of next month.
The FPO of SAIL, in which the Government holds a little over 85%, has failed to meet repeated deadlines since December due to unfavourable market conditions and problems with merchant bankers.
In SAIL, in the first phase, besides raising Rs 4,000 crore by divesting 5 per cent stake, the steel giant would raise fresh equity of the same proportion. In the second phase, it will sell another 10% through FPO.
The government has set a target of Rs 40,000 crore through disinvestment in state-owned firms this fiscal, up from over Rs 22,000 crore mopped up in 2010-11.
“We are in the process of resolving the independent director issue in ONGC. The follow-on public offer (FPO) of the company is likely to come in the quarter ending June,” a Finance Ministry official told PTI.
ONGC does not meet market regulator Sebi’s listing norms of having equal number of functional and independent directors and the government had planned to withdraw both its nominees from the board to meet the requirement and push the FPO.
But the move would have led to ONGC losing its coveted Navaratna status, which gives the company board autonomy to approve investments of any size for projects, and enables it to invest up to Rs 1,000 crore in a joint venture.
The government plans to sell 5% stake or 427.77 million equity shares through the FPO to raise up to Rs 12,000 crore. It was to hit the market in March, but was deferred.
The official further said that PFC is likely to be the first public issue of the current fiscal, followed by SAIL.
Meanwhile, Disinvestment Secretary Sumit Bose said, “We hope to come out with the public issue of PFC, SAIL and ONGC in the first quarter of the current fiscal.”
State-run Power Finance Corporation’s Rs 6,000-crore FPO is likely to hit the market in the second week of May and the company has already filed the draft red herring prospectus (DRHP) with Sebi.
The government holds 89.78 per cent stake in the firm. It had divested 10 per cent through initial public offer (IPO) in 2007. The company will infuse 15 per cent fresh equity, while the government will dilute its 5 per cent stake.
Besides, the much-awaited Rs 8,000-crore FPO of Steel Authority of India (SAIL) is set to hit the capital market by the end of next month.
The FPO of SAIL, in which the Government holds a little over 85%, has failed to meet repeated deadlines since December due to unfavourable market conditions and problems with merchant bankers.
In SAIL, in the first phase, besides raising Rs 4,000 crore by divesting 5 per cent stake, the steel giant would raise fresh equity of the same proportion. In the second phase, it will sell another 10% through FPO.
The government has set a target of Rs 40,000 crore through disinvestment in state-owned firms this fiscal, up from over Rs 22,000 crore mopped up in 2010-11.
Infosys to complete restructuring in 3-4 months: Sources
Infosys is likely to have finalised two European firms for acquisition, reports CNBC-TV18 quoting sources. It is learnt that the IT major will be pumping in USD 280-300 for the acquisition which is slated to be completed before July.
Sources add that that Infosys has appointed three member panel with Director-HR of the company Mohandas Pai at the helm. The panel will chart out restructuring blueprint. However, Infosys may go for restructuring only after the succession plans are announced.
According to sources, Infosys is looking to restructure business into seven key verticals, wherein each vertical will be divided into different horizontals. Sources also say that three to four key vertical heads likely to be shuffled and upto 1000 senior-mid management employees may be restructured. Infosys is eyeing to complete restructuring in three-four months time.
However, Infosys has refused to comment calling it speculation.
- Money control
Sources add that that Infosys has appointed three member panel with Director-HR of the company Mohandas Pai at the helm. The panel will chart out restructuring blueprint. However, Infosys may go for restructuring only after the succession plans are announced.
According to sources, Infosys is looking to restructure business into seven key verticals, wherein each vertical will be divided into different horizontals. Sources also say that three to four key vertical heads likely to be shuffled and upto 1000 senior-mid management employees may be restructured. Infosys is eyeing to complete restructuring in three-four months time.
However, Infosys has refused to comment calling it speculation.
- Money control
BSE Holidays 2011 / NSE Holidays 2011
Wednesday 26th January, 2011 Republic Day
Wednesday 2nd March, 2011 Mahashivratri
Tuesday 12th April, 2011 Ram Navmi
Thursday 14th April, 2011 Dr. Babasaheb Ambedkar Jayanti
Friday 22nd April, 2011 Good Friday
Monday 15th August, 2011 Independence Day
Wednesday 31st August, 2011 Ramzan Id
Thursday 1st September, 2011 Shri Ganesh Chaturthi
Thursday 6th October, 2011 Dassera
Wednesday 26th October, 2011 Diwali Amavasya (Laxmi Pujan)
Thursday 27th October, 2011 Diwali Balipratipada
Monday 7th November 2011 Bakri-Id
Thursday 10th November, 2011 Gurunanak Jayanti
Tuesday 6th December 2011 Moharum
Wednesday 2nd March, 2011 Mahashivratri
Tuesday 12th April, 2011 Ram Navmi
Thursday 14th April, 2011 Dr. Babasaheb Ambedkar Jayanti
Friday 22nd April, 2011 Good Friday
Monday 15th August, 2011 Independence Day
Wednesday 31st August, 2011 Ramzan Id
Thursday 1st September, 2011 Shri Ganesh Chaturthi
Thursday 6th October, 2011 Dassera
Wednesday 26th October, 2011 Diwali Amavasya (Laxmi Pujan)
Thursday 27th October, 2011 Diwali Balipratipada
Monday 7th November 2011 Bakri-Id
Thursday 10th November, 2011 Gurunanak Jayanti
Tuesday 6th December 2011 Moharum
Thursday, October 14, 2010
Prestige Estates Rs 1,200cr IPO subscribed 1.75 times till 2pm
Realty developer Prestige Estates Projects' Rs 1,200 crore initial public offer (IPO) got over- subscribed 1.75 times, hours before the end of issue today.
The IPO, which opened on October 12, received total bids for over 10 crore shares against 5.72 crore equities on offer, as per the NSE data available till 1400 hours.
Final figures of the IPO will be available by the end of day. The Bangalore-based real estate developer has entered the capital market with its public float priced in a range of Rs 172 to Rs 183 per share.
The company has already raised Rs 215.4 crore for its IPO by roping in 23 anchor investors, including Reliance MF, DSP Blackrock and Credit Suisse.
Anchor investors, which will get shares in Prestige IPO, include Sundaram BNP, HDFC MF, Alliance Berstein India Growth Fund, Indus Capital Advisor UK, Government of Singapore, Lloyd George, HSBC MF, Mirae Asset and Axis MF.
Enam Securities, JP Morgan India , Kotak Mahindra Capital Company and UBS Securities India are the book running lead managers to the issue.
The IPO, which opened on October 12, received total bids for over 10 crore shares against 5.72 crore equities on offer, as per the NSE data available till 1400 hours.
Final figures of the IPO will be available by the end of day. The Bangalore-based real estate developer has entered the capital market with its public float priced in a range of Rs 172 to Rs 183 per share.
The company has already raised Rs 215.4 crore for its IPO by roping in 23 anchor investors, including Reliance MF, DSP Blackrock and Credit Suisse.
Anchor investors, which will get shares in Prestige IPO, include Sundaram BNP, HDFC MF, Alliance Berstein India Growth Fund, Indus Capital Advisor UK, Government of Singapore, Lloyd George, HSBC MF, Mirae Asset and Axis MF.
Enam Securities, JP Morgan India , Kotak Mahindra Capital Company and UBS Securities India are the book running lead managers to the issue.
15-minute pre-market call auctions to start on October 18
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have decided to implement ‘pre-market call auctions’ which is a special 15-minute trading window starting at 9:00 am from October 18.
Pre-market opening features:
•a very useful mechanism particularly on high volatility days. This will matter more when there are sudden major developments
•No entry, modification, cancellation executed
•Orders accumulated for specified period
•Price and quantity information is shared
•Provisions to discourage manipulation
•Limit and market orders is allowed
•IOC conditions are not allowed
•Iceberg orders are not allowed
•Limit orders prioritised over market orders
•Price banding at 20% applicable
•Circuit filter for continous sessions only
•Open market orders to move as limit orders at open price
This also means that all other segments, including derivatives and non-index stocks, will trade only at 9:15 am.
Both the exchanges have already received the go-ahead from market regulator the Securities and Exchange Board of India (Sebi) to start the ‘pre-market call auctions’.
The aim of this exercise is to enable better price discovery in the market. Sayee Srinivasan, head–product Strategy at BSE, says, “The call auction is the solution to take care of the uncertainty that is there in people’s mind about where a stock should be priced at the open.”
So how does this work? Here is the break-up of these 15 minutes. At 9:00 am, investors will be able to place their ‘buy’ and ‘sell’ orders for Nifty or Sensex stocks for a period of seven minutes. During these seven minutes, no trades will be executed.
However, the exchanges will discover an ‘indicative price’ for these stocks and the ‘indicative index levels.’ While these indicative levels will continue to change through the course of the seven minutes, they will be reflective of the general direction of the market and investors can then accordingly place their bids.
What is also interesting is that if based on these indicative prices investors wish to change or cancel their orders they will be allowed to do so. The exchanges will suddenly halt this order-taking randomly between 9:07 and 9:08 am in order to check any market manipulation.
After this stoppage, till 9:12 am orders will be matched and opening prices of the stocks and the opening levels for the indices will be discovered. It is during this time that the trades will be executed at the single discovered price for every stock. The opening price for a stock will be the price at which the maximum amount of shares can be traded.
Extreme care has also been taken to combat volatility. While during the auction period there is no provision for a circuit filter, a 20% price band will be applicable on all bid prices.
Pre-market opening features:
•a very useful mechanism particularly on high volatility days. This will matter more when there are sudden major developments
•No entry, modification, cancellation executed
•Orders accumulated for specified period
•Price and quantity information is shared
•Provisions to discourage manipulation
•Limit and market orders is allowed
•IOC conditions are not allowed
•Iceberg orders are not allowed
•Limit orders prioritised over market orders
•Price banding at 20% applicable
•Circuit filter for continous sessions only
•Open market orders to move as limit orders at open price
This also means that all other segments, including derivatives and non-index stocks, will trade only at 9:15 am.
Both the exchanges have already received the go-ahead from market regulator the Securities and Exchange Board of India (Sebi) to start the ‘pre-market call auctions’.
The aim of this exercise is to enable better price discovery in the market. Sayee Srinivasan, head–product Strategy at BSE, says, “The call auction is the solution to take care of the uncertainty that is there in people’s mind about where a stock should be priced at the open.”
So how does this work? Here is the break-up of these 15 minutes. At 9:00 am, investors will be able to place their ‘buy’ and ‘sell’ orders for Nifty or Sensex stocks for a period of seven minutes. During these seven minutes, no trades will be executed.
However, the exchanges will discover an ‘indicative price’ for these stocks and the ‘indicative index levels.’ While these indicative levels will continue to change through the course of the seven minutes, they will be reflective of the general direction of the market and investors can then accordingly place their bids.
What is also interesting is that if based on these indicative prices investors wish to change or cancel their orders they will be allowed to do so. The exchanges will suddenly halt this order-taking randomly between 9:07 and 9:08 am in order to check any market manipulation.
After this stoppage, till 9:12 am orders will be matched and opening prices of the stocks and the opening levels for the indices will be discovered. It is during this time that the trades will be executed at the single discovered price for every stock. The opening price for a stock will be the price at which the maximum amount of shares can be traded.
Extreme care has also been taken to combat volatility. While during the auction period there is no provision for a circuit filter, a 20% price band will be applicable on all bid prices.
Sensex drops 190 pts
Equity benchmarks stalled the follow-up rally by erasing more than 190 points on Sensex on the back of profit booking in major sectors like infrastructure, financial, telecom and oil & gas. The sell-off as well as consolidation was imminent because the Sensex rallied more than 650 points from Wednesday till today's spike up in initial trade.
However, Infosys maintained its uptrend ahead of results for the quarter ended September 2010; jumped 1% followed by Wipro with 1.5% rise. Sesa Goa, Tata Steel and Tata Motors were other gainers
The 50-share NSE Nifty closed at 6177, down 56 points and the 30-share BSE Sensex was at 20497, down 190 points.
However, Infosys maintained its uptrend ahead of results for the quarter ended September 2010; jumped 1% followed by Wipro with 1.5% rise. Sesa Goa, Tata Steel and Tata Motors were other gainers
The 50-share NSE Nifty closed at 6177, down 56 points and the 30-share BSE Sensex was at 20497, down 190 points.
Sea TV Network lists with 20% premium
Shares of Sea TV Network, an Agra-based company engaged in providing services of a Multi System Operator (MSO) to various Local Cable TV operators of Agra city, listed at Rs 120, a premium of 20% over an issue price of Rs 100 a share.
At 9:10 hours IST, a share was trading at Rs 118, with volume of more than 30 lakh shares, after hitting a high of Rs 126.15 and low of Rs 116.10 on BSE.
Sea TV Network raised Rs 50.2 crore via offering of 50.2 lakh equity shares. Part of the net proceeds of the Issue is proposed to be utilized for expansion plan which include setting up of complete Digital Headend and network for implementation of Conditional Access System (CAS) to convert from the present Analog system to distribution to a Digital System, setting up network for complete IPTV solution, setting up of own cable distribution (underground optical fiber) network capable of digital transmission throughout Agra City and adjoining areas and also setting up own 20 branch-offices in the city including in the adjoining areas with required infrastructure for receiving digital signals and re-transmitting the same without much value addition through co-axial cables to individual customers/subscribers.
The issue was opened for subscription during September 27-29, 2010, which had subscribed 9.58 times. A price band was at Rs 90-100 a share.
Sea TV proposes to adopt latest technology i.e. IPTV for providing TV channels to its viewers. It already has a network of about 150 franchisees throughout Agra city.
At 9:10 hours IST, a share was trading at Rs 118, with volume of more than 30 lakh shares, after hitting a high of Rs 126.15 and low of Rs 116.10 on BSE.
Sea TV Network raised Rs 50.2 crore via offering of 50.2 lakh equity shares. Part of the net proceeds of the Issue is proposed to be utilized for expansion plan which include setting up of complete Digital Headend and network for implementation of Conditional Access System (CAS) to convert from the present Analog system to distribution to a Digital System, setting up network for complete IPTV solution, setting up of own cable distribution (underground optical fiber) network capable of digital transmission throughout Agra City and adjoining areas and also setting up own 20 branch-offices in the city including in the adjoining areas with required infrastructure for receiving digital signals and re-transmitting the same without much value addition through co-axial cables to individual customers/subscribers.
The issue was opened for subscription during September 27-29, 2010, which had subscribed 9.58 times. A price band was at Rs 90-100 a share.
Sea TV proposes to adopt latest technology i.e. IPTV for providing TV channels to its viewers. It already has a network of about 150 franchisees throughout Agra city.
Ashoka Buildcon lists at Rs 342 Vs IPO price of Rs 324/sh
Shares of Ashoka Buildcon, a company engaged in building and operating roads and bridges on a BOT basis, have listed at Rs 342 a share on NSE as against issue price of Rs 324.
At 9:17 hours IST, a share was trading at Rs 327, with volume of 24 lakh shares, after hitting a high of Rs 344.95 and low of Rs 313.10 in early trade.
Ashoka raised Rs 225 crore through IPO, which was opened during September 24-28 and was subscribed 15.53 times. A price band was at Rs 297-324 a share.
Issue proceeds will be used for investment in capital equipment; working capital requirements; prepayment/ repayment of project loans of the company and funding certain subsidiaries for prepayment/ repayment of their loans.
At 9:17 hours IST, a share was trading at Rs 327, with volume of 24 lakh shares, after hitting a high of Rs 344.95 and low of Rs 313.10 in early trade.
Ashoka raised Rs 225 crore through IPO, which was opened during September 24-28 and was subscribed 15.53 times. A price band was at Rs 297-324 a share.
Issue proceeds will be used for investment in capital equipment; working capital requirements; prepayment/ repayment of project loans of the company and funding certain subsidiaries for prepayment/ repayment of their loans.
Govt sets Coal India IPO price band at Rs 225-245/sh
The price band for the eagerly awaited initial public offer (IPO) of India's largest coal producing company, Coal India (CIL) has been fixed at Rs 225-245 a share, Coal Minister, Sriprakash Jaiswal said. "Employees and retail investors will get 5% discount to the issue price," he added.
The government expects to raise over Rs 15,000 crore through the IPO, which will be largest ever amount raised by an Indian company via offering. And, Jaiswal said, we would not rope in anchor investors in the IPO.
The issue will attract retail and QIB investors, said CIL chairman Partha Bhattacharya. He also said that the company will be listed on November 4, 2010.
The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder (GoI), whose stake will be 89.99% post the issue. The IPO is set to open for subscription on October 18 and will close on October 21, 2010.
The company is offering 63.16 crore equity shares through the issue, which was an offer for sale by the President of India, acting through the ministry of coal, Government of India.
The offer shall constitute 10% of the post offer paid-up equity share capital of company. The issue will close on October 21.
As per draft prospectus, CIL is the largest coal producing company in the world (Source: CRISIL Research), based on raw coal production of 431.26 million tons in fiscal 2010. It is also the largest coal reserve holder in the world (Source: CRISIL Research) based on reserve base as of April 1, 2010
The government expects to raise over Rs 15,000 crore through the IPO, which will be largest ever amount raised by an Indian company via offering. And, Jaiswal said, we would not rope in anchor investors in the IPO.
The issue will attract retail and QIB investors, said CIL chairman Partha Bhattacharya. He also said that the company will be listed on November 4, 2010.
The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder (GoI), whose stake will be 89.99% post the issue. The IPO is set to open for subscription on October 18 and will close on October 21, 2010.
The company is offering 63.16 crore equity shares through the issue, which was an offer for sale by the President of India, acting through the ministry of coal, Government of India.
The offer shall constitute 10% of the post offer paid-up equity share capital of company. The issue will close on October 21.
As per draft prospectus, CIL is the largest coal producing company in the world (Source: CRISIL Research), based on raw coal production of 431.26 million tons in fiscal 2010. It is also the largest coal reserve holder in the world (Source: CRISIL Research) based on reserve base as of April 1, 2010
Wednesday, August 11, 2010
Prakash Steelage IPO finally subscribed 4.53 times
Details as below
Qualified Institutional Buyers (QIBs): 1.2700
Non Institutional Investors : 10.9100
Retail Individual Investors (RIIs) : 6.6200
Employee Reservations : 1.0200
Total : 4.5300
Qualified Institutional Buyers (QIBs): 1.2700
Non Institutional Investors : 10.9100
Retail Individual Investors (RIIs) : 6.6200
Employee Reservations : 1.0200
Total : 4.5300
Tuesday, August 10, 2010
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