Indian Stock Market

GUJARAT PIPAVAV PORT LIMITED

2010-08-24T05:48:00.000-07:00

Symbol - Series	GPPL EQ
Issue Period	Aug 23, 2010 to Aug 26 2010 [* For QIB bidders Issue closes on Aug 25, 2010]
Post issue Modification Period	Aug 27 2010
Issue Size	Equity Shares Aggregating To Rs. 5,000 Million (Fresh Issue?) And an Offer For Sale Of Upto 11,707,369 Equity Shares.[including anchor investor portion of 204,82,326 shares]
Issue Type	100% Book Building
Price Range	Rs 42/- TO Rs 48/- per equity shares
Tick Size	Re. 1/-
Face Value	Rs. 10/-
Market Lot	130 equity shares
Minimum Order Quantity	130 equity shares
Maximum Subscription Amount for Retail Investor	Rs.100000
IPO Market Timings	10.00 a.m. to 5.00 p.m.
IPO Grading	CRISIL IPO Grade 4/5
Rating Agency	CRISIL
Book Running Lead Manager	Kotak Mahindra Capital Company Limited,IDFC Capital Limited
Co-Book Running Lead Manager	IDBI Capital Market Services Limited
Syndicate Member	Kotak Securities Limited,Sharekhan Limited
Categories	FI ,IC ,MF ,FII ,OTH ,CO ,IND , NOH and EMP
No. of Cities with Bidding Centers	68
Name of the registrar	Karvy Computershare Private Limited
Address of the registrar	Plot No. 17 to 24, Vithalrao Nagar, Madhapur, Hyderabad 500 081

New IPO NEWS

2010-06-23T00:46:00.000-07:00

Aster Silicates plans Rs 53.10 crore IPO
A manufacturer of sodium silicate, Aster Silicates is coming out with a public issue of Rs 53.10 crore on June 24, 2010.

The company has fixed a price band for this issue at Rs 112-118 per equity share. Issue will close for subscription on June 28.

Aster is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. It produces sodium silicate both in glass and liquid form.
Food grade sodium silicate is used in the manufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt, cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drilling grade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields.

The company intends to use issue proceeds for expansion of manufacturing facilities and additional working capital requirements.

As per DRHP filed with SEBI, promoters and their group hold 71.43% stake in company. Promoter Mahesh A Maheshwari and Namrata M Maheshwari hold 57.40% & 11.92% stake in company.

The book running lead manager to the issue is Saffron Capital Advisors Private Limited and Sharepro Services (India) Private Limited is the registrar.

Mandhana Ind sets IPO price band at Rs 120-130/sh

2010-04-22T11:14:00.000-07:00

Mandhana Industries has set a price band of Rs 120-130 a share for its initial public offer and will be tendering around 83 lakh equity shares.
The company will raise Rs 108 crore at the upper band of the issue price. The issue will open for subscription on April 27 and close on April 29, 2010.
Issue proceeds will be used for setting up of new garment manufacturing facility at MIDC, Tarapur Maharashtra; expansion of yarn dyeing and weaving facility at MIDC, Tarapur, in the State of Maharashtra, and for working capital.
Mandhana is a vertically integrated textile and garment manufacturing company having presence across operations ranging from yarn dyeing to garment manufacturing.

Promoters' holding will be reduced to 60.47% post issue.

The book running lead managers to the issue are Axis Bank and Edelweiss Capital Ltd. Link Intime India Pvt Ltd is the registrar.

Source : Moneycontrol.com

Talwalkars Better value Fitness IPO opens today

2010-04-22T11:11:00.000-07:00

22/04/2010.

The initial public offering (IPO) of 60.5 lakh equity shares of Mumbai-based Talwalkars Better value Fitness is opened for subscription today.

The company will raise about Rs 74.42-77.44 crore at the price band of Rs Rs 123-128/share. The issue will close on April 23, 2010.

The offer shall constitute 25.09% of the paid-up equity capital of company. Promoters' holding will be reduced to 59.49% post issue.

Rating agency CARE has assigned IPO Grade 3 to the issue, which indicates that the company has average fundamentals.

It is one of the largest and oldest fitness chains in India. It operates 51 health clubs in 24 cities and serves over 55,000 members.

The issue proceeds will be used for setting up of additional health clubs at cost of Rs 50.22 crore and repayment of unsecured loans worth Rs 20.59 crore.

The book running lead managers to the issue India Infoline and Link Intime India Pvt Ltd is the registrar.
Source : Moneycontrol.com

Buy sugar, financials, pharma

2009-11-23T01:42:00.000-08:00

The markets have been in consolidation mode for the past one week. The range has also been quite narrow. So, where are markets likely to head next week? Experts see markets trading in a narrow range. They expect it to take out past highs but don't see cues to drive markets.

Sajiv Dhawan of JV Capital Services sees markets trading in a narrow range. "We are in some sort of a narrow band. There are no clear reasons why the market should break out above 5,200 or below 4,200. I do feel markets are on an upside. This quarter’s results are likely to be good again and will keep the markets on the bullish side. Global negative news seems to have softened, global markets are also supporting. Unless there is a policy decision by the government which would curb capital inflows and unnerve the market it is very difficult to see why markets would slip more than 3-5% if a correction comes in at all."

Mitesh Thacker of miteshthacker.com too sees the Nifty trading in a narrow range of 150 points. "About 4,920 on the downside and 5,070 on the upside is what we see the Nifty trading in." However, he is unsure which way the the Nifty going to break.

Similarly, TS Anantakrishnan, Head, Prime Wealth Management, sees the markets consolidating between 4,800 and 5,100. He expects the Nifty to touch 5,500 in the near-term. He too advises investors to buy on dips but selectively.

Sectors to look at now:
Anantakrishnan is bullish on the commercial vehicles sector and the commodity space, both steel as well as the non-ferrous side. He asks investors to reduce exposure to banking and get into defensives. "From the pharma space, we like Lupin. We also like ITC from that perspective. We have been reducing our exposure on financials and more into the pharma side. Given that our expectation is that interest rates will move up, we prefer private banks over PSU peers because historically they have done better during an interest rate upmove."

On financials:
Dhawan is bullish on financials and advises buying on dips "This sector is likely to be an outperformer in bullish markets. Valuations still are reasonably okay in an otherwise relatively expensive market. Dips should be bought into."

On sugar:
Thacker sees sugar stocks entering a much broader range. He feels it is still a good sector to buy on declines. "But the upside in the short-term could be limited to around 5-8%."
Source : CNBC-TV18

Cox and Kings IPO opens today

2009-11-18T10:32:00.000-08:00

Cox and Kings (India), provider of all travel and travel related products, launched its IPO (initial public offering) of 18,496,640 equity shares of Rs 10 each today. The price band has fixed at Rs 316-330/share and the issue will close for subscription on November 20, 2009.
Moneycontrol.com talked to the experts whether to apply or not to the issue. All experts as well as brokerage firm recommended a subscribe.
Investment Advisor, SP Tulsian said the issue was recommended even at the upper band of Rs 330 per share. "Cox and Kings (India) has been showing a consistent growth in its topline and bottomline for over the last 5 years. Total income of Rs 66 crore in FY06, grew to Rs 294 crore in FY09, while PAT rose to Rs 62.81 crore in FY09 from Rs 17.38 crore in FY06. In the recent past, share of unorganized players are shifting to organized players like Cox and Kings, which is reflected in the growth of 23% achieved by the company, between FY04 to FY08 against CAGR of 15%, achieved by the industry, in the same period."
"The company should be able to post a PAT of Rs 120 crore on total income of Rs 390 crore for the year ending March 10, which looks conservative, as PAT for the first quarter ending June 09 has already been placed at Rs 40.58 crore. This will result in an EPS of Rs 19 on fully diluted equity of Rs 62.92 crore. So, even taking the upper band of Rs 330 per share it is issued at a PE of about 18 times, leaving ample margin of safety. After a long time, we have come across a comforting IPO, which looks capable to give listing gain as well as much more, if held on with 12 months view. Issue is recommended even at the upper band of Rs 330 per share."
Another expert, Manish Bhatt of Prabhudas Lilladher also advised to subscribe the issue.
KR Choksey view
India’s tourism industry accounts for 6% of GDP, much below world average. This provides Cox & Kings vast opportunity to the domestic outbound and inbound tourism market. Increasing global opportunities for companies with acquisition of businesses offering synergies, increasing disposable income, increasing standard of living, rising demand for management studies abroad, favorable environment for migrated people abroad would be the key drivers for growth in travel and tourism industry.
On valuation side, price band looks attractive compared to it peers. On higher band of Rs 330, the issue is priced at Rs 14.7x its FY09 EPS and 4.0x its FY09 book value. Though the recent IPO’s have not faired well, we are positive for Cox & Kings IPO looking at the growth potential the business holds in the future. Thus, we would recommend our investors to subscribe to the company’s IPO.
About the issue
The company will raise more than Rs 610 crore from the issue, out of which it will get over Rs 509 crore and the rest will be given to shareholders.
CARE has assigned a 'CARE IPO GRADE 4' to the proposed IPO. CARE IPO Grade 4 indicates above average fundamentals.
The equity shares are proposed to be listed on Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.
The objects of the fresh issue are to provide funding for repayment of loans; acquisitions and other strategic initiatives; investment in overseas subsidiaries and investment in corporate office & upgrading our existing operations.
Source : Moneycontrol.com

Lodha Developers hopes to launch IPO in Dec

2009-11-12T04:57:00.000-08:00

Lodha Developers hopes to launch an initial public offering to raise up to Rs 30 billion (USD 640 million) in December, encouraged by a revival in demand for homes, a top company official said on Wednesday.
The Mumbai-based builder, which focuses on high-end residential apartments in and around India's financial capital, will use the proceeds for retiring debt, to fund fresh land acquisitions and for working capital for existing projects.
"We hope to get approval from the regulator by November-end. We can then launch by mid-December. Otherwise, we will launch by mid-January," Managing Director Abhisheck Lodha told Reuters.
"The size of the company now demands good quality capital for growth."
At least 16 Indian developers have filed papers for public offers in the past two months, looking to raise a total of about USd 6 billion, following a revival in demand for homes in markets such as Mumbai and New Delhi.
A more than doubling in the main stock since early March has encouraged share-sale plans of cash-strapped Indian real estate firms.
Developers expected to hit the market soon include Emaar MGF, a joint venture between Indian financier MGF and the UAE's Emaar Properties, Sahara Prime City, Oberoi Constructions and Godrej Properties, a unit of Godrej Industries.
Lodha Developers is currently developing 29 million sq ft of space across 38 projects, mostly in Mumbai, and holds debt of Rs 10 billion on its books, the managing director said.
"We are in a sweet spot now - we are growing well and have a strong brand value. We hope this will be a differentiating factor to attract the best quality investors," Lodha said.
The company, which counts the private equity arm of ICICI Bank and Housing Development Finance Corporation and Deutsche Bank as investors in its projects, will look to rope in anchor investors for its IPO.
Lodha reported net profit of 957 million rupees in 2008/09, up 77% from the previous year, while income from operations rose almost three-quarters to Rs 9.5 billion, according to its draft prospectus.
It had a net worth of Rs 2.66 billion, translating to Rs 12.21 per share with face value of Rs 5.
JPMorgan, Citigroup, CLSA, Credit Suisse, Nomura, Enam, Kotak, Global Trustcapital and SBI Capital Markets are the book running lead managers to the issue.
Source:- moneycontro.com

Methods of buying and selling of shares.

2009-11-03T02:07:00.000-08:00

Market order: When you put buy or sell price at market rate then the price gets executed at the current rate in the market. The market order gets immediately executed at the current available price.
In market order there is no need to mention the price; the shares will get executed at the best current available price.
If you wish to buy or sell shares at any specific price, i.e. market order is not suitable for you then you have to go for limit order.
Market order is for those who want to buy or sell immediately at the current available price.
Limit order – It’s totally different from market order. In this, the buying or selling price has to be mentioned and when the share price comes to that price your order will get executed at the price mentioned by you.
But here it’s not sure that the price will come to your limit order.
In day trading it’s risky because you have to close all your transactions before 3.30 pm and if in case the price doesn’t reach to your limit order, your order will be open and then you have to go through (bare) heavy penalties. Importantly, limit order and stop loss trigger price are used together.
Stop loss trigger price: Stop loss and trigger price are used to reduce the losses. This is a very important term especially if you are Day Trading (intraday). Stop loss, as the name indicates, is used to reduce the loss.
You can use a pivot calculator for simple stop loss calculation for delivery based trading and intraday stop loss depends on how much you are ready to lose – the maximum amount you are ready to lose- it also depends on the price movements of the scrip for that particular day

Disappoints Indiabulls Power listing tumbles 15%

2009-10-30T03:41:00.000-07:00

Indiabulls Power first trading session at a hefty discount of 15.11% to its issue price of Rs 45. The share closed at Rs 38.20 on the NSE.
On the BSE, the share closed at Rs 39.25 at a hugh discount of 12.78% to its issue price. It touched an intraday high of Rs 45.50 and intraday low of Rs 35.

It touched an intraday high of Rs 45.05 and intraday low of Rs 35.35. The total traded quantity was 17,38,96,773 shares and turnover was at Rs 68,776.17 lakh.

It received an overwhelming response from investors, especially QIBs (qualified institutional investors) and was subscribed 21.84 times.

The issue had opened for subscription during October 12-15 with 39.07 crore equity shares shares, including a green shoe option of retaining 5.09 crore equity shares.

ndiabulls Power intends to use the IPO proceeds to part finance the construction and development of the 1,320 MW Amravati Power Project Phase-I, fund equity contribution in the company’s wholly owned subsidiary, IRL to part finance the construction and development of the 1,335 MW Nashik Power Project, apart from general corporate purposes.

Ipo Listing News

2009-10-29T10:18:00.000-07:00

Indiabulls Power to list on October 30
Indiabulls Power, a subsidiary of Indiabulls Real Estate will list its equity shares public issue on the exchanges on October 30, 2009. The company has fixed its initial public offering (IPO) price at Rs 45 per share, at higher end of price band of Rs 40-45.

The issue opened for subcription during October 12-15 with 39.07 crore equity shares shares, including a green shoe option of retaining 5.09 crore equity shares.

It received an overwhelming response from investors, especially QIBs (qualified institutional investors) and was subscribed 21.84 times, as per the data available on the NSE website.

QIBs (qualified institutional investors) supported the issue with their reserved portion being subscribed over 40.49 times. QIBs included Fidelity, Nomura, Capital International, Goldman Sachs AMC, Mirae AMC, Reliance MF, SBI, IDFC, LIC MF, HSBC, Halbis, Birla MF and ICICI Pru Life Insurance.

Non-institutional investors’ reserved portion got subscribed nearly 5.76 times and retail portion subscribed was 1.09 times.

Indiabulls Power intends to use the IPO proceeds to part finance the construction and development of the 1,320 MW Amravati Power Project Phase-I, fund equity contribution in the company’s wholly owned subsidiary, IRL to part finance the construction and development of the 1,335 MW Nashik Power Project, apart from general corporate purposes.

The company has five thermal power projects under development, which will have a combined installed capacity of 6,615 MW. Projects include -:
1 – Amravati Phase I Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

2 – Nashik Power Project will consist of five units of 135 MW each and two units of 330 MW each, with a combined capacity of 1,335 MW.

3 – Bhaiyathan Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

4 – Amravati Phase II Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

5 – Chhattisgarh Power Project is expected to have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

Apart from these projects, the Company is developing four medium sized hydro-power projects of 60 MW, 30 MW, 46 MW and 31 MW in Arunachal Pradesh.

For the year ended March 31, 2009, it has reported profit of Rs 82.96 crore on total income of Rs 141.34 crore on the consolidated basis.

Morgan Stanley India Company Pvt Ltd was the book running lead manager and Karvy Computershare Pvt Ltd was the registrar to the issue.

The Company has certain foreign investors such as FIM Limited and LNM India Internet Ventures Limited as its shareholders.

Source : MoneyControl

Indian shares Markets 6-week closing low

2009-10-27T11:11:00.000-07:00

The 30-share BSE Index .BSESN closed 2.31 percent or
387.10 points lower at 16,353.40. It posted its largest
single-day fall in 10 weeks. Twenty-three of its stocks closed
in the red.
"A correction like this was in the offing, and the policy
tone turned out to be the trigger," said V. P. Chaturvedi,
managing director of Tata Asset Management
Indian shares fell 2.3 percent
to their lowest close in six weeks, with banks leading the
losses, as the central bank laid the groundwork for a rise in
interest rates at its policy review even as it maintained its
key rates.

India's central bank tightened credit to the commercial
property sector, lifted its inflation forecast and warned of
the threat of asset price bubbles. ID:nDEL485971]

As expected, the Reserve Bank of India (RBI) left key
interest rates on hold but surprised markets by removing
emergency liquidity support measures that were implemented to
protect Asia's third-largest economy from the global downturn.
Leading lenders such as State Bank of India (SBI.BO: Quote, Profile, Research) and
ICICI Bank (ICBK.BO: Quote, Profile, Research) fell after the central bank increased
provisioning norms, and set a hawkish tone.

"The hawkish tone has pulled down interest rate sensitives
like bank and real estate stocks," he added.

The 30-share BSE Index .BSESN closed 2.31 percent or
387.10 points lower at 16,353.40. It posted its largest
single-day fall in 10 weeks. Twenty-three of its stocks closed
in the red.

Foreign funds have poured in a net of $14 billion in Indian
equities, leading to a rally of more than 69 percent so far in
the year.

But they had turned net sellers for the previous three
sessions.

"I think the policy has signalled concerns on inflation and
price stability and going forward, the focus will be on
reduction of liquidity and there will be tightening bias,"
Chaturvedi added.

Top lender State Bank of India shed 4.5 percent, its
biggest fall in 10 weeks, to 2,202.95 rupees, while private
lender ICICI Bank tumbled 6.1 percent, its worst singe-day
decline in more than three and a half months, to 836.25 rupees.

Real estate firms tumbled, after the central bank withdrew
some liquidity measures and raised banks provisioning
requirements for commercial real estate exposure.

The sector index dropped 6.24 percent to
4,046.04, its lowest close in more than two months.

Top-listed real estate firm DLF (DLF.BO: Quote, Profile, Research) shed 6.6 percent,
while rival Unitech (UNTE.BO: Quote, Profile, Research) declined 7.7 percent.

Telecom firms slid on expectations their earnings would
decline sequentially, and on continued concerns over tariff
wars and pricing pressures, analysts said.

Top mobile operator Bharti Airtel (BRTI.BO: Quote, Profile, Research) fell 7.1
percent to 306.60 rupees, while rival Reliance Communications
(RLCM.BO: Quote, Profile, Research) slipped 6.6 percent to 208.25 rupees.

Tata Steel, the world's eigth-largest steel maker slumped
7.3 percent to 501.30 rupees after it posted a
bigger-than-expected fall in its quarterly net profit.
[ID:nBMA006241]

Wipro, the country's third-largest software services firm,
led the gainers, as it beat estimates with a 21 percent rise in
quarterly profit and forecast strong growth as it won new
outsourcing deals and pricing pressures eased. [ID:nBOM412587]

The stock closed 2.2 percent higher at 604.15 rupees, and
the sentiment helped pull up other stocks in the sector as
well.

"On a sector basis, Wipro's positive outlook should help
stocks to inch up in our view," J. P.Morgan analysts Manoj
Singla and Nishit Jasani said in a note.

"Overall we maintain our view of limited absolute share
price upside near-term but remain fundamentally positive on a
9-12 month view," J.P. Morgan added.

Top vehicles maker Tata Motors (TAMO.BO: Quote, Profile, Research) gained 1.6
percent to 547.75 rupees, after it beat forecasts with a
second-quarter profit of more than double over last year.
[ID:nBNG477862

"With improvement in the M&HCV (medium and heavy commercial
vehicles) volumes and higher demand for its LCV (light
commercial vehicle) products, Tata Motors is set to reap the
benefit of the recovery in the economy," Surjit Arora, analyst
at brokerage Prabhudas Lilladher said in a note.

In the broader market, losers were more than five times the
number of gainers, on a relatively moderate volume of 425
million shares.

The 50-share NSE index .NSEI closed 2.5 percent lower at
4,846.70.

BSE/NSE Close Down

2009-10-22T05:29:00.000-07:00

Market opened on a subdued note and slipped lower in line with Asian markets. The selling intensified with negative opening of European markets.indian equity benchmarks ended lower for the third consecutive day on Thursday, tracking a downturn in global markets.Intense profit booking was seen in realty, capital goods and banking stocks while FMCG and IT stocks
resisted the fall.indian equity benchmarks ended lower for the third consecutive day Thursday, tracking a downturn in global markets. Intense profit booking was seen in realty, capital goods and banking stocks while FMCG and IT stocks resisted the fall.“Sentiments have been bearish and traders were avoiding fresh buying at higher levels. A correction was overdue and global markets have triggered it,said a dealer from local brokerage
Nifty closes below 5000
National Stock Exchange’s Nifty closed at 4988.60, down 75 points or 1.48 per cent. The index breached psychological support of 5,000 to touch an intra-day low 4968.45 while the high was 5064.25.
Market breadth was negative on the BSE with 1,864 declines and 873 advances.
Bombay Stock Exchange’s Sensex ended at 16789.74, down 219.43 points or 1.29 per cent. The index touched an intra-day low of 16721.26 and high of 17031.54.

“Weakness will only emerge if Sensex closes below 16,750 and selling would intensify if it breaches 16,600. We may bounce tomorrow (Friday) but the rise should be used to sell. Unless and until Sensex closes above 17000 for two consecutive days don’t expect major upside,” said Bharat Gala, technical analyst, Ventura Securities.

The BSE Midcap Index was down 2.12 per cent and BSE Smallcap Index declined 1.96 per cent.

Amongst the sectoral indices, BSE Realty Index fell 4.59 per cent, BSE Capital Goods Index declined 2.69 per cent and BSE Bankex slipped 2.05 per cent. The BSE IT Index closed up 1.21 per cent and BSE FMCG Index moved 1.15 per cent higher.

Jaiprakash Associates (-6.64%), Unitech (-5.64%), DLF (-4.63%), Ranbaxy Laboratories (-4.09%) and L&T (-3.83%) were amongst the Nifty losers.

HCL Tech (2.21%), HUL (1.96%), M&M (1.83%), ITC (1.68%) and Cairn (1.64%) were amongst the gainers.

Jaiprakash Associates reported a four-fold jump in net profit to Rs 870 crore for the quarter ended Sep 30, 2009, on treasury share sale, even as the company announced that it would issue one bonus equity share for every two shares held. The company grossed a profit of Rs 942 crore on sale of treasury shares, which helped the company clock a net profit of Rs 870 crore, as against Rs 203 crore in the year-ago quarter. Sales for the quarter rose 53% to Rs 1,824 crore.
European markets continued to reel under pressure and US stock futures were mixed. At 5:20 pm, Dow Jones futures was up 0.01 per cent, S&P 500 slipped 0.13 per cent and Nasdaq 100 moved 0.26 per cent lower. (Investment Suggestion:- use stopploss &
Watch market Trends wait for steady market)

.

Indian Stock Market Slips In Early Trade

2009-10-15T04:34:00.000-07:00

After opening higher at 17,274, the BSE Sensex slipped to as low as 17,194 in early trading. Since then, the benchmark has cut most of its losses and is now trading almost flat at 17,228. Meanwhile, the S&P CNX Nifty is trading at 5,116, down a modest 0.05%. The BSE small-cap and the mid-cap indexes are up around 0.6% each, outperforming large-caps.

Sector-wise, IT, telecom and FMCG stocks are dragging the market lower, while metal, power,auto and oil/gas stocks are receiving good buying support.

Among the major decliners, Infosys and TCS are down over 2% each, Sun Pharma is losing 1.89%, ITC is down 1.64% and Reliance Communication is declining 1.51%.

Bharti Airtel, Wipro, Hindustan Unilever, Mahindra & Mahindra, Grasim, Tata Power and Larsen & Toubro are also trading in the red.
After a positive start, the Indian market has slipped into the red in early trading on Thursday as investors chose to take some profits following recent gains. Traders await a report on inflation for further cues on surging food prices.
After a positive start, the Indian market has slipped into the red in early trading on Thursday as investors chose to take some profits following recent gains. Traders await a report on inflation for further cues on surging food prices.

New Ipo News

2009-10-13T23:52:00.000-07:00

--------------------------------------------------------

Date:-14/10/09.
Incorporated in 2007, Indiabulls Power Limited is a power project development company. Company develops and intends to operate and maintain power projects in India. The Company is a subsidiary of IBREL (Indiabulls Real Estate), a part of the Indiabulls Group and listed on the BSE and the NSE. IBREL is one of the largest real estate development companies in India. It focuses on construction and development of properties, project management, investment advisory and construction services.

Indiabulls Power Ltd has five thermal power projects under development, which will have a combined installed capacity of 6,615 MW. These projects include:

1. Amravati Phase-I (1320 MW)
2. Amravati Phase-II (1320 MW)
3. Nasik (1335 MW) in Maharashtra
4. Bhaiyathan Thermal Power Project (1320 MW) &
5. Chhattisgarh Power Project (1320 MW) in the State of Chhattisgarh.

Indiabulls is also developing four medium size Hydro Power Projects in Arunachal Pradesh aggregating to 167 MW. Indiabulls has also entered into MoUs with the Govt. of Madhya Pradesh and Jharkhand for setting up of 2640 MW & 1320 MW Thermal Power Projects.

Company Promoters:
Indiabulls Power is promoted by three entrepreneurs:

1. Mr. Sameer Gehlaut - is the Non Executive Chairman of Company.

2. Mr. Rajiv Rattan - is the Vice Chairman of the Company.

3. Mr. Saurabh K. Mittal - is the non-executive Director of the Company.

Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:

1. To part finance the construction and development of the 1,320 MW Amravati Power Project Phase – I;
2. Funding equity contribution in the Company’s wholly owned subsidiary, IRL, to part finance the construction and development of the 1,335 MW Nashik Power Project; and
3. General corporate purposes.

Issue Detail:

»» Issue Open: Oct 12, 2009 - Oct 15, 2009
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 339,800,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 1,359.20 - 1,529.10 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 40 - Rs. 45 Per Equity Share
»» Market Lot: 150 Shares
»» Minimum Order Quantity: 150 Shares
»» Listing At: BSE, NSE

Indiabulls Power Ltd IPO Grading/Rating

CRISIL has assigned an IPO Grade "3/5" (pronounced "three on five") to Indiabulls Power Ltd IPO. This means as per CRISIL, company has average fundamentals. CRISIL assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.Link to download CRISIL rating document.

(only 2days left to biding ipo)

Reliance Ind.offers 1:1 bonus, interim of Rs 13

2009-10-09T05:04:00.000-07:00

Mumbai, Oct 7 Reliance Industries Ltd sprang a pleasant surprise on Wednesday, announcing a 1:1 bonus share issue, the first time in 12 years.

According to a proposal approved by the RIL board on Wednesday, all shareholders will get one free share for every share held by them.

Around 35 lakh shareholders will benefit from, what is being termed a ‘Diwali bonus’. The last bonus issue (also 1:1) by RIL was in 1997.

The RIL board also proposed an interim dividend of Rs 13 per share for 2008-09. The dividend will entail an outgo of Rs 2,219 crore, including Rs 322 crore in taxes, said a senior company official. The board also approved the audited results of RIL for the year ended March 31, 2009.

In a notice to the stock exchanges, RIL said: “The board of directors , at its meeting held on October 7, inter alia, has recommended, subject to the approval of the shareholders, issue of bonus shares in the ratio of one equity share of Rs 10 each fully paid up for every one equity share of Rs 10 each of the company. “

Mr Alok Agarwal, RIL’s Chief Financial Officer, said that shareholders of Reliance Petroleum Ltd, which was recently amalgamated with RIL, will also get the same bonus and interim dividend. Since the demerger of the group, RIL has created value of Rs 2,47,000 crore in market capitalisation. Shareholders have earned a 40-per cent compounded return, he said.

“RIL is now ready to invest for the future. It has a strong balance-sheet, large cash reserves and substantial financial flexibility, owing to its Treasury stock holdings, which have a current value of nearly Rs 40,000 crore,” Mr Agarwal said. The company recently sold 1.5 crore treasury shares worth Rs 3,188 crore.

“It was indeed a big surprise as usually this kind of announcement is made at annual general meetings,” said Mr Prayesh Jain, an analyst at India Infoline. There was no run-up in the stock price in the past few days, which indicates that the announcement was unexpected, he said.

All About Indian stockmarkets News & Tips Live Charts

2009-10-07T04:12:00.000-07:00

Hi Viwers,
If Want more information about lndian sharemarkets and News,Tips Live Charts And many More Information so go below sites
http://sites.google.com/site/nifty50stocks

Keep In Mind Basic Rules of Indian Stock Market

2009-10-06T02:32:00.000-07:00

* first study about script & fandamatel strong share then invest & For better profit take delivary.
1. Whenever Market is High It Will Fall
2. Whenever Market is Low, If there is no external Factor, It Will rise
3. Same Rules Applies To Stocks Scripts Also.
Everyone say's that when market is high we will invest in shares , as doing intraday trading is risky. However we say that when market is going high investment is not that safe as it doesn’t make any point blocking your money when SENSEX and NIFTY are already zooming high. Wait for correction to come and then buy at lower price. Till the time stick to intraday stock trading.
4. Best time for investment - when market is down, though by keeping fundamental’s in mind.
5. Best time for intraday trading - Everyday is best day for it. Condition being some professionals are assisting you with there analyzes of stock market
6. How to earn in Bullish Markets

1. Always remember this is your hard earned money not anyone’s. So you have to take care of it and be cautious at every level, if you are taking calls from processionals then also.

2. Always follow Indian stock market.

3. When market falls, don't panic, when market zooming don't be overjoyed as you can earn and loose both ways around.

4. If market goes up you first buy and then sell and if Indian stock market goes down, you first short and then buy. 5. Never hesitate to ask for professionals advice

TO MASTER THE TRADE

Money management becomes your lifeline, and all your trading strategies start to revolve around its
core. Risk control becomes a key aspect of every position you take. You accept that controlling
losses has a far-greater impact on your bottom line than chasing gains.
You develop your own trading plans and strategies rather than relying on books and news. You
notice how you're finding more opportunities than you have time to trade while looking through your
charts. You look forward to the trading day with a growing sense of confidence and empowerment.
You feel more like a student than a master. You learn new things every day and can't wait to apply
them to real-life trading scenarios. You listen closely to everything you hear, trying to pick up hints
and concepts that will improve your performance. You expand your studies into everything marketrelated,
including economics, fundamentals and balance sheets.
You stop visiting stock boards and chatrooms, because they don't add anything to your trading goals.
You realize that everyone in those places has ulterior motives. You develop a healthy skepticism
about companies, market-makers and even other traders. You realize that no one is really interested
in your success as a trader, except for you.
You become more private in your discussions about the market with family and friends. You learn to
keep your opinions to yourself, because they're just idle discussion. You never talk about open
positions or ask others what to do with them. You recognize that opinions count only when they're
backed up by cold, hard cash.
Trading starts to feel like any other successful profession. Your average profits get bigger while your
losses get smaller. You experience fewer drawdowns that drain your capital and undermine your
confidence. Your trading day starts to get a little boring, but you prefer the lack of emotional highs
and lows.
You grade your performance each day and recognize when your actions did not meet your rising
standards. You notice how certain times of the day are particularly dangerous or rewarding for your
trading style. You keep a written diary that describes your strengths and weaknesses in stark detail.
You never cut corners in your market analysis, no matter how tired or exhilarated you feel at the end
of the day. You set aside time to review your daily results, download fresh data and uncover themes
for the next session. You don't trade at all when nonmarket matters keep you from finishing your
nightly preparation.
You watch all types of markets, even those you're not trading at the time. You realize the next
opportunity could come from anywhere, and you want to be prepared. You also understand that your
trading interests will change over time, so you want to be ready for the next big thing.
You keep detailed trading records and update them on a nightly basis. You look at both profits and
losses with complete detachment and a keen eye for self-improvement. You don't "conveniently" fail
to include those trades you'd rather forget about.

Sensex extends gains & (NSE) too was in the positive terrain

2009-09-30T06:12:00.000-07:00

MUMBAI: A key index of Indian equities markets extended its gains on Wednesday and was ruling 1.38% higher than its previous close in the
afternoon.

Around 2:05 pm, the 30-scrip benchmark index of the Bombay Stock Exchange Sensex, which had crossed the 17,000-mark earlier, was ruling at 17,085.48 points, up 232.57 points or 1.38%.

The S&P CNX Nifty of the National Stock Exchange (NSE) too was in the positive terrain at 5,067.85 points, up 1.22%.

Broader market indices were also in the green, with the BSE midcap index ruling 0.61% higher and the BSE smallcap index up 0.95%.

The market breadth was positive, with 1,540 stocks advancing, 1,135 declining and 86 remaining unchanged.

Asian markets were a mixed bag.

The Nikkei, a key index of the Tokyo Stock Exchange, closed 33.03 points or 0.33% higher at 10,133.23 points.

The primary index of the Hong Kong Stock Exchange, Hang Seng, was down 57.92 points or 0.28% at 20,955.25 points.

The Kospi, benchmark index of the Korean Stock Exchange, was ruling in the negative, moving down 16.91 points or 1% at 1,673.14 points.

However, at the Shanghai Stock Exchange, the benchmark SSE Composite ended 0.9% down at 2,779.43 points.

NHPC share listing prise BSE Mumbai

2009-09-02T01:15:00.000-07:00

The NHPC share price listed at a premium of over eight per cent over its original issue price. The NHPC shares opened at Rs 39 up by 8.33 percent over the issue price of Rs 36 per share.

The public sector unit has raised about Rs 6,000 crore from IPO. The NHPC IPO was over-subscribed 23 times just after its opening on August 12. The biding price range for the NHPC IPO was Rs 30-36 a share.

The Mini-Ratna sold around 168 crore shares, which comprised of five per cent stake divestment by the government and fresh equity of 10 per cent to the public.

Proceeds from the issue would be used to part-finance the construction and development costs of projects, such as Subansiri Lower, Uri-II, Chamera - III and Parbati -III.

NHPC has an installed capacity of 4,815 MW and has 11 projects under construction aggregating to a total capacity of 4,622 MW.

The company's power stations and hydro-power projects are predominantly located in the North and North East of India, Jammu and Kashmir, Himachal Pradesh, Uttarkhand, Arunachal Prades, Assam, Manipur, Sikkim and West Bengal.

It is awaiting government sanction for a further five projects with an anticipated capacity of 4,565 MW.

India Equity Preview

2009-08-27T00:29:00.000-07:00

The Sensex extended its gains to the fifth straight session as advances by IT stocks, led by Infosys, helped push the index higher by 81 points. The Sensex ended at 15,769, after trading in a narrow range of 15,695 and 15,831 as investors were cautious after the strong recent gains.
The global cues were positive for Indian markets. Most of the global markets were moderately higher on Wednesday, lifted by rising US consumer confidence and a healing housing market that sent Wall Street higher overnight.
But analysts said investors remain cautious about the global economic outlook and have yet to be convinced that a strong recovery is underway.
Aban Offshore zoomed nearly 27 per cent on the BSE today. The counter ended at Rs 1,536 after some brokerages upgraded their outlook on the stock. and IT stocks led by Infosys gained in today’s trade after CLSA upgraded its outlook on the stock. The IT index on the BSE rose 3.3 per cent. Infosys ended 4 per cent higher at Rs 2,181. The stock hit a 52-week high of Rs 2188 in intraday trade. CLSA upgraded the stock to “buy” and raised the target price to Rs 2450/share TCS and Wipro were the other gainers in the IT space, up over 3.3 per cent each. Realty stocks also rose today. Ansal API soared 15 per cent to Rs 81 In the 30-share Sensex group, 18 stocks posted gains while 12 counters fell. Infosys was the top gainer followed by Sterlite Ind and TCS. Sterlite Ind rose 3.9 per cent today. HUL, however, was the biggest loser in the pack. The stock slid 2.3 per cent to Rs 262.In the 30-share Sensex group, 18 stocks posted gains while 12 counters fell.

RIL-RNRL Row: Supreme Court to give short date for early decision on Sep 1

2009-08-02T08:12:00.000-07:00

NEW DELHI: The Supreme Court on Thursday said, it will give a short date to expedite the decision pertaining to the Krishna-Godavari basin gas dispute between Mukesh Ambani's Reliance Indusgtries Ltd (RIL) and Anil Ambani’s Reliance Natural Resources Ltd (RNRL).

"The matter will be taken up on Sep 1. On that day we will give a short date for early decision in the case", said a bench headed by Chief Justice KG Balakrishnan.

The court in its brief order said, "List the matter on Sep 1 for directions".

RNRL counsels Mukul Rohatgi and Mahesh Agrawal mentioned the matter before the bench seeking an early decision in the case.

In its mentioning note, the RNRL said, "we will be requesting honourable court (SC) to clarify/direct that the main petitions (RIL and RNRL) may also be taken up for final hearing and disposal on and from Sep 1, 2009, the date already fixed by the court".

The court inquired from RNRL counsel whether the the petitioner want an interim order of the court in the case? Rohatgi then replied, RNRL was not looking for any interim order but final disposal of the matter.

Rohatgi further said, all the records of the Bombay high court were before the apex court. It may look into those and decide the matter expeditiously. However, if any party want to file any additional document, they are at liberty to do it, said Rohatgi.

Rohatgi further submitted that all the concerned parties were here. They should not have any difficulty in fast tracking the case.

RIL counsel Harish Salve did not objected to the plea. He however, drawn attention of the court towards the procedural difficulty in constituting a three judge bench to hear the case.

All these will take time and matter may go up for final disposal after Diwali holidays in Oct, said Salve. The court is scheduled to resume on Oct 19 after Diwali holidays.

However, RNRL counsel Rohatgi wanted the case should be given a primacy and decided in the month of Sep itself preferrably within 20 days from Sep 1 onwards as the apex court is scheduled go for the Durga Puja holidays from Sep 21 onwards.

Government’s counsel and additional solicitor general Mohan Parasaran also did not objected to the plea of RNRL.

After hearing all the three concerned parties, the court said, in order to fast track the matter, it will give a short date on Sep 1.

On July 20, a two judge bench of the apex court had issued notices to RIL and RNRL on a Special Leave Petition filed by Ministry of Petroleum and Natural gas seeking quashing of the Bombay high court order directing RIL to supply gas to RNRL at $2.34 per mmBtu. The government in its SLP had said, the high court contradicted its gas allocation policy that favoured priority sectors like fertiliser and power.

The Union government also sought the MoU between the Ambani brothers, according to which the Anil Ambani-led ADA Group is entitled to a share of the gas from the KG basin, to be quashed on the ground that the Ambani brothers don’t own the gas.

The court seeking replies from both RIL and RNRL on centre’s SLP had posted the matter for further hearing on Sep 1 before a three judge bench.

The main petitions, however, were filed earlier in the apex court by both RIL and RNRL. Subsequentlu government had also moved a SLP in the apex court on the issue.

RIL had moved the apex court challenging the Bombay High Court order that asked it to supply 28 mmscmd of gas to RNRL at USD 2.34 per mmbtu. Reliance Industries Ltd in its appeal had alleged that the High Court had erred in deciding the three term s -- quantity, tenure and price of gas supply -- to power plants of RNRL affiliates.

RNRL on the other hand appoched the Supreme Court against the part of the high court judgment. RNRL had said, the high court while directing that the Gas Supply Agreement ought to be amended should have given final and effective directions for amendment of such agreement to make it bankable.

Source: economictimes.indiatimes.com

Stock Market News

2009-07-26T11:50:00.000-07:00

The Nifty is currently moving above its all three averages — short-term, mid-term and long-term. However, the mid-term (45 days) average is currently above the short-term (15 days) daily moving average, which at times signifies consolidation or range-bound movement.

The NSE Nifty moved in a range of 201 points, from a low of 4,378, the index rallied to a high of 4,579, and finally settled with a gain of 194 points at 4,569. The index is moving towards its June high of 4,693 too, above which it may rise to 4,950. On the downside, the index may find support at 4,490-4,445.

Better-than-expected first quarter numbers, steady foreign institutional inflows coupled with positive global cues helped the market post smart gains for the second consecutive week. The Sensex, which gained over 1,200 points in the preceding week, ended the week with a gain of over 600 points.

The Sensex began the week with a bang, up 446 points on Monday. The index, thereafter, consolidated and finally ended with a gain of 634 points at 15,379. In the process, the index moved in a range of 632 points, hit a high of 15,419 and a low of 14,787.

Among the index stocks, DLF and Tata Motors zoomed over 18 per cent to Rs 333 and Rs 316, respectively. Maruti, Jaiprakash Associates, Tata Steel, Hindalco, TCS and Sterlite gained 11-16 per cent.

The Sensex is now well-poised to target its June high of 15,600. Above which, the index may spurt to 15,825, and further up to 16,800 in the next few weeks. On the downside, the index is likely to find support around 15,135-14,990 levels, a break below which could see the index slide to 14,500.

Cinemax launches multiplex at Ahmedabad

2009-07-06T05:37:00.000-07:00

Cinemax India today announced that the company is launching its Four Screens Multiplex at Cinemax, Red Carpet at Ahmedabad. The multiplex will have a capacity of 987 seats including 180 recliner seats.The four screen multiplex will also offer patrons to enjoy a personalized cafe service while enjoying their favourite movie which will give them out of the world experience of ``Cinemaxperience``.With this addition, the company will have in total 24, theater properties with 74 screens and 20,320 seats.Shares of the company declined Rs 0.15, or 0.31%, to trade at Rs 47.50. The total volume of shares traded was 1,609 at the BSE (11.10 a.m., Friday).

indian stock market news

2009-07-06T05:18:00.000-07:00

Tata Motors sells Steel shares, raises Rs 457 cr
MUMBAI: Auto giant Tata Motors, which has been on a fund-mobilisation spree in recent past to repay its debts, today raised about Rs 457 crore byselling about half of its equityin another group company Tata Steel.
The shares, amounting to about 1.5 per cent stake in Tata Steel, have been sold to another promoter group entity and the Tata group's holding company Tata Sons Ltd.
As on March 31, 2009, Tata Motors held about 2.14 crore shares of Tata Steel, accounting for a 2.93 per cent stake, while Tata Sons held about 29 per cent stake.
The shares were sold today in various open market transactions through bulk and block deals at the Bombay Stock Exchange.
In aggregate, Tata Sons bought 1.10 crore shares of Tata Steel, representing about 1.5 per cent stake in the company, for total consideration of Rs 456.78 crore, according to the bulk and block deal available on the BSE.
Last month, auto major Tata Motors had raised Rs 4,200 crore (USD 840 million) through an issue of secured non convertible rupee debentures.
The funds raised would be used for part repayment of the USD 3-billion bridge facility for acquiring Jaguar Land Rover, the company had said.
Shares of Tata Steel today closed at Rs 438.55, up 5.28 per cent on the BSE. Tata Motors shares settled at Rs 368.50, up 1.03 per cent on the BSE.

MARKET NEWS

2009-07-01T23:10:00.000-07:00

Trading Guide
Nifty future was volatile in the last trading session. Fresh long-position can be initiated only if Nifty Future moves above 4386, with tight stop.
The near-term stance is cautious for DLF, desist trading in this counter. Infosys is testing significant resistance level Rs 1800. Initiate fresh long position if the stock exceeds Rs 1815, with tight stop-loss. ICICI Bank is consolidating sideways in a narrow range of Rs 700 and Rs 750 since late May. Avoid trading in this counter. Utilise rallies to sell L&T and ONGC with tight stop at Rs 1600 and 1070 respectively. Buy Rel Cap in dips with tight stop at Rs 919. We reaffirm our sell recommendation in Rel Com as the near-term outlook is bearish. Fresh short-position can be initiated if RIL fails to surpass Rs 2099, with tight stop-loss. We recommend a buy in SBI with stiff stop at Rs 1760

Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for the day only; LTP - Last traded price

The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in trading)

Roshni Nadar is the new CEO of HCL

Roshni Nadar, daughter of founder of HCL Corp, has been appointed as the new CEO of HCL Coproration.

Ms Roshni Nadar, has a MBA in Social Enterprise Management and Strategy from the Kellogg Graduate School of Management.

She is also involved in brand building across the HCL Group.

Ms Roshni returned from the US in October last, and has since been involved with the HCL Corporation before taking over Executive Director and CEO.

More detailed Story at : The Hindu

Indian shares turn negative on monsoon delay fearsIndian shares turn negative on monsoon delay fears

2009-06-25T02:47:00.000-07:00

MUMBAI, June 25 (Reuters) - Indian shares erased gains of as much as 1.1 percent and turned negative on Thursday afternoon on fears a delay in crucial monsoon rains could hurt an already slowing economy.
The annual monsoon rains, a lifeline to the trillion-dollar economy, are expected to be below normal for the first time in four years, the government said on Wednesday. [ID:nISL48163]
At 2:13 p.m. (0843 GMT), the 30-share BSE index .BSESN was down 0.3 percent at 14,381.75 points, with 17 stocks declining, after rising to as much as 14,578.46 earlier.
The 50-share NSE index .NSEI was down 0.7 percent at 4,264.70. (Reporting by Pratish Narayanan)

Latest News of IPO

2009-06-24T00:11:00.000-07:00

Mahindra Holidays' IPO attracts 20% subscription

Chennai: The initial public offering of Mahindra Holidays and Resorts Ltd attracted bids for 20 per cent of the number of shares offered, on the first day of the issue, according to the data provided by the National and Bombay stock exchanges

On offer are 92.65 lakh shares at a price band of Rs 275 to Rs 325 a share.

Total bids were received for 18.75 lakh shares. Bids received at the "cut off" price were for 65,960 shares.

Qualified institutional buyers, including FIIs and mutual funds, subscribed 32 per cent of the 55.59 lakh shares reserved for them, data from the National Stock Exchange shows.

The issue is fully underwritten by Kotak Mahindra Capital Company Ltd and SBI Caps.

The former is also the global co-ordinator and book running lead manager for the issue.

RPT-India stock futures end flat on short covering

2009-06-24T00:01:00.000-07:00

MUMBAI, June 23 (Reuters) - India's stock futures ended flat on Tuesday as investors covered short positions ahead of the current contract's expiry.

The Nifty June contract NIFc1 ended up 0.3 percent at 4,247.90 points while the 50-share NSE index .NSEI ended up 0.28 percent at 4,247.00 points.

Rollovers, weak on Monday, began to pick up, with arbitrageurs and hedge funds back in the market before the near-month contract's expiry on Thursday, said analysts.

"People were ready to participate in the market in big quantities, especially post noon, when the market started rallying," Kunal Nagrani, Edelweiss Securities.

"The pullback we saw is looking pretty strong to me."

Indian shares rebounded from an early slide and ended little changed on Tuesday, propelled by gains in energy giant Reliance Industries (RELI.BO: Quote, Profile, Research) and explorer Oil and Natural Gas Corp (ONGC.BO: Quote, Profile, Research).

The 30-share BSE index .BSESN ended down 0.02 percent, or 2.21 points, at 14,324.01.

Auto stocks saw good rollovers and so did textiles and select power stocks.

Technical analysts saw expiry levels at 4,300 levels.

(Reporting by Jasudha Kirpalani; Editing by Prem Udayabhanu)

Negative global cues weigh on Sensex

2009-06-22T23:35:00.000-07:00

The benchmark index dropped sharply in early trade amid weak global cues and renewed concerns about the recovery of the world economy. US markets fell overnight after the World Bank estimated the global economy will shrink 2.9 percent in 2009.

The Sensex was trading at 14,066, down 259 points. The Nifty fell 1.4 per cent to 4,174.

“A deep correction can be expected in the markets. Poor monsoon and recovery in the economy remain a concern for the markets,” said V K Sharma, Director Research, Anagram Stock Broking.

Selling pressure was seen in most sectors with metals, realty and banking stocks leading the decline. The BSE metal index was down 3.4 per cent and the realty index fell 3.2 per cent. The banking index on the BSE dropped 2.5 per cent.

Among the Sensex stocks, Sterlite Industries was the biggest loser, down over 4 per cent. ICICI Bank, JP Associates and Hindalco were the other main losers in the pack.

Index heavyweight RIL was also trading lower in early deals. The stock was down 1.2 per cent.

ONGC, however, was one of the prominent gainers in the group. The stock rose 3.3 per cent.

In the US markets, major stock indices tumbled by more than 2 per cent on Monday, sending the Dow Jones industrial average down 201 points, after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It previously predicted a 1.7 percent contraction.

The Dow fell 200.72, or 2.4 percent, to 8,339.01, its lowest finish since May 27. It was the biggest drop for the blue chips since losing 290 points, or 3.6 percent, on April 20 as investors worried about the soundness of bank balance sheets.

The Standard & Poor's 500 index fell 28.19, or 3.1 percent, to 893.04.

Taking cues from US markets, Asian markets were trading sharply lower today. Hong Kong’s Hang Seng, Japan’s Nikkei 225 and South Korea’s Kospi fell more than 2.4 per cent each.

(With AP inputs)

News of indian markets

2009-06-22T01:52:00.000-07:00

ndian Market May Open Higher On Favorable Asian Cues

Monday, the Indian market may open higher on the back of positive Asian cues after the
International Monetary Fund or IMF said it will raise its 2010 growth outlook for the world economy.

In a keynote address to Turkish Industrialists' and Businessmen's Association in Bodrum, IMF's First Deputy Managing Director John Lipsky said on Friday, "Financial conditions have improved, confidence is recovering gradually, and indicators of future production and demand have firmed. Reflecting these developments, I expect that in the coming weeks we will revise our growth projections modestly upward, mainly with regard to 2010."

However, considering the fact that the U. S. markets finished Friday's trading on a mixed note, investors are likely to take profits on every rise. Pre-budget institutional selling and short covering ahead of June series derivatives contracts expiry on Thursday may lead to volatility.

On the other hand, the country received 45% less than normal rain in June in a development that can hinder the prospects of economic recovery. Fears that the central bank may reverse its easy monetary policy stance may also dent investor sentiment.

Last week, the Indian market snapped its 14-week winning streak, as stretched valuations amid weak global cues triggered profit taking. Net selling by foreign funds and fears about a sharp correction before the budget also weighed on market movement. The BSE Sensex lost 716 points or 4.70% to 14,522 and the S&P CNX Nifty ended at 4,314, down 270 points or 5.89% for the week. The BSE mid-cap index moved down 5.28% and the small-cap index shed 6.60%.FIIs pulled out nearly Rs.1,700 crore from Indian equities last week, according to data released by market regulator SEBI.

News of mutual fund

2009-06-22T00:56:00.000-07:00

Reliance infrastructure Fund
Reliance mutualfund part of the Reliance Anil Dhirubhai Ambani group, has recently launched
The open-ended equity fund will invest significantly in equity and equity-related instruments of companies engaged in and infrastructure-related sectors such as transport, banks and financial, energy, power and oil, metals and minerals, telecom and urban infrastructure.

“Undoubtedly, infrastructure is a key priority for India and we also hope a spurt of infrastructure spending in the economy on the back of the stable government and ease of project financing. Moreover, the valuation looks more attractive and the environment being stable with the new government settling in,”said Reliance Mutual Fund CEO Sundeep Sikka here.
“The right time is now to invest in infrastructure and infrastructure-related firms, a sector which is likely to get a boost from the new government,” he added.The new fund offers two plans — Retail and Institutional. The minimum investment in the fund would be Rs. 5,000 and in multiples of Re. 1 thereafter for the Retail Plan and Rs. 5 crore and in multiples of Re 1 thereafter for the Institutional Plan.

Reliance Infrastructure Fund will invest at least 65 per cent of its assets in engineering, cement and power stocks as well as banks, whereas the balance will be invested in debt and money markets.

The scheme would provide investors opportunity to buy or sell units on an ongoing basis from not later than 30 days after the close of the New Fund Offer (NFO) on June 23.

The Reliance Infrastructure Mutual Fund will primarily invest in shares of infrastructure companies in India. It will have at least 65% of its assets invested in shares of infrastructure companies and the balance in debt instruments. It will also invest in derivative instruments for hedging and rebalancing purposes.

The fund will invest in infrastructure and infrastructure related companies, but there is one thing that you need to be aware of.

Banks, financial institutions and such, which lend to this sector, also come under this category and the mutual fund may invest in such companies also. This is not a good or bad thing - just something to keep in mind. Most investors don’t equate a financing company with infrastructure and so are sometimes surprised when they hear that their infrastructure mutual fund holds State Bank of India or some other such bank or finance company.

Here is a list of sectors that the fund may invest in (from their prospectus): At first glance it may occur to you that the Reliance mutual fund will invest most of its assets in Airport, then Banks, then Cement and so on (which is what I felt), but this is not true. This is just a list of indicative sectors and is not in any particular order.

Stock News

2009-06-22T00:15:00.000-07:00

Of the 15 components of the Instanex FII Index ten were up and five were down.

At 12 noon, the Instanex FII Index was up 0.40% at 311.57 (+0.78% at 11 am) and the Instanex DII 15 portfolio was up 0.67% (+0.97% at 11 am). Sensex was up 0.52% (+0.80% at 11 am) and Nifty was down 0.03% (+0.45% at 11 am). The other Instanex Ownership Indices were down – the Instanex Promoter 15 portfolio was down 0.46% (-0.16% at 11 am), the Instanex Top 15 portfolio was down 0.39% (-0.05% at 11 am) and the Instanex Retail 15 portfolio was down 0.20% (+0.13% at 11 am). Asian markets were up – Hang Seng was up 2.52% (+2.46% at 10 am), KOSPI closed 1.18% higher (+1.08% at 11 am) and Straits Times was up 1.07% (+1.10% at 11 am).

Of the 15 components of the Instanex FII Index ten were up and five were down. The main gainers were ICICI Bank (+4.01%; weight 10.29%), L&T (+2.07%; weight 4.16%) and HDFC (+1.45%; weight 13.25%) and the main losers were Sun Pharma (-2.07%; weight 1.71%) and Reliance (-1.89%; weight 16.62%).