Friday, September 9, 2011
European market update: FTSE index down 0.2%, CAC index down 0.9%, DAX index down 0.7%
"Visit Daily www.NorthPole77.com ,
Join profit making community...Today!"
Market Commentary
While
the harvest festival is being celebrated in some parts of our country,
political leaders around the globe are under pressure to sow some seeds
to enable recovery from the financial crisis. US President Obama has
proposed yet another stimulus to boost growth in a sluggish economy. The
question is will his plans pass in the Congress? Even if some of them
do, will they have the desired effect? Nobody has a clue right now.
Meanwhile, Fed chief Bernanke hasn’t offered anything new, perhaps postponing it to this month’s FOMC meet.
Back
home, the Government has its hands full with a slew of challenges –
both economic and political. With Sonia Gandhi back from surgery hopes
are some decisive response may be there.
The
start looks a bit wobbly as investors digest a whole host of news.
Asian stocks are mostly up. European indices managed slender gains while
US benchmarks ended lower. Inflation in China has slowed in August
though the results are above forecast.
After the recent gains, the Nifty could consolidate near 5100 levels before attempting to breach 5225.
New Listing Review
Co. Name
|
Offer
Price
|
Listing
Date
|
Listing
Price
|
Listing Day
Close
|
|||
VMS Industries
|
40.00
|
14-6-2011
|
43.95
|
28.50
|
|||
Timbor Home
|
63.00
|
22-6-2011
|
72.00
|
91.20
|
|||
Birla Pacific
|
10
|
7-7-2011
|
10.10
|
25.35
|
|||
Rushil Decor
|
72
|
7-7-2011
|
81.25
|
119.65
|
|||
Ready Made Steel
|
108
|
13-7-2011
|
115
|
66.45
|
|||
Bharatiya Global
|
82
|
28-7-2011
|
84.00
|
30.95
|
|||
Inventure Growth
|
117
|
4-8-2011
|
119.00
|
207.95
|
|||
L & T Finance
|
52
|
12-8-2011
|
51.00
|
49.95
|
|||
Tree House Education
|
135
|
26-8-2011
|
132.80
|
116.55
|
|||
Brooks Laboratories
|
100
|
5-9-2011
|
110.00
|
60.20
|
|||
T.D. Power Systems
|
256.00
|
8-9-2011
|
251.60
|
274.80
|
Corporate Snippets
± Gitanjali Gems Ltd, values nine of its major brands at Rs55.84bn.(ET)
± Efforts to finalise a US$2bnplus bid by India's GVK Power & Infrastructure for two Australian coal mines owned by Hancock Prospecting have been delayed due to differences over valuation.(ET)
± Mangalore Refinery and Petrochemicals Ltd.
will shut a 500,000 tonnes a year continuous catalytic cracker from end
September or early October for maintenance for 20 days. (ET)
± Jubilant Life Sciences
said it has received the US health regulator's approval for the launch
of Pantoprazole Delayed Release Tablets20 mg and 40mg. (ET)
± Shree Ganesh Jewellery has tied up with Bharti Retail's
'Easy Day' market format to market its Gaja Lites range of jewelleries.
The company is planning to triple its turnover from the retail segment
from Rs4bn to Rs12bn in the next two years. (ET)
± Expanding its footprint in Africa, Bharti airtel
will operate 2G and 3G mobile services in Rwanda for which it has
announced an investment of US$100mn in the next three years. (ET)
± Mahindra & Mahindra has launched a new model of its top-selling Bolero SUV, at a starting price of Rs0.63mn (BS IV in Delhi, ex-showroom). (BL)
± United Breweries
is setting up two greenfield breweries — one in Mysore and the other in
Patna — and also proposes to add capacity to several of its existing
breweries . Investments for new breweries are in the range of Rs1.5bn
per brewery and the total investment for the year is around Rs5bn. (BL)
Economy snippets
± The
government has envisaged an investment of more than Rs220bn for setting
up nine new major ports in the country over the next five years. (ET)
± Food price index rose 9.55 % and the fuel price index climbed 12.55 % in the year to Aug. 27. (ET)
± The
Planning Commission wants India to set up a sovereign wealth fund with
an initial corpus of US$10bn, mainly to invest in energy and mining
assets abroad. (ET)
± Fertiliser
units could get higher share of domestically produced gas than the
power plants, if the suggestions of a high-power panel are accepted.
(BL)
± A sharp jump in refunds eroded the Centre's net direct tax collections by 3.4 % during April-August 2011. (BL)
ONGC (FPO) Opens on 20th
Sep. & Closes on 23rd Sep.
Grey Market premium-Kostak Prices of
ONGC (FPO) Started
P.G. Electroplast IPO 2nd
Day Subscription: 0.19 time (Average)
Religare
Finvest NCDs Issue Open on
9th Sep. & Closes on 26th Sep. 2011
Muthoot Fin. Bond Issue
Got Collection of Rs. 745 Cr.
For
Further information scroll to primary market
Thursday, September 8, 2011
Market Commentary
A
suspected terrorist strike in the heart of the capital did not dampen
the spirits on the local bourses. The markets are unlikely to be shaken
by a late night earthquake in New Delhi. The opening is expected to be
good, but not spectacular. A few Asian markets are unable to hold on to
early gains despite a stellar rally in the US and Europe.
Indian
indices surpassed key levels and could be headed further north if the
global situation doesn’t worsen. FII inflows need to stay positive. The
Nifty tested 5150 levels before retreating. It could bump into
resistance around 5225-5250.
With
so much uncertainty and anxiety over the precarious state of the US and
Eurozone, markets will continue to face volatility. Tread cautiously as
a few important events are lined up this week and this month. Don’t get
fooled by the recent corrective uptick as the same may not sustain for
long.
Global
investors will tune into President Obama and Fed chief Bernanke later
today for cues on what they intend to do to pump-prime the US economy.
Corporate Snippets
± Hero MotoCorp will start dropping the Honda brand from its existing products this fiscal. (BS)
± Bajaj Auto will showcase their four-wheeler in the Delhi Auto Expo next January. (BS)
± Aurobindo Pharma
has formed an equal joint venture with Russian healthcare equipment
company Ojsc Diod to manufacture and sell drugs in Russia, Belarus and
Kazakhstan. (ET)
± Jubilant Foodworks plans to enter Bangladesh after opening the first Dominos Pizza outlet in Sri Lanka earlier this month. (BS)
± Tata Motors has cut production in both the passenger and commercial vehicle segments in order to align its output with market demand. (FE)
± Jaguar Land Rover
is looking to increase manufacturing of its vehicles in India in order
to escape the high duty on its products imported to the country. (BS)
± RCOM has clinched a Rs14bn deal with HDFC Bank to build and maintain a data centre. (ET)
± Mahindra Reva Electric Vehicle will introduce a new electric vehicle in the next 18 months based on a model from parent group Mahindra & Mahindra's existing portfolio. (BS)
Economy snippets
± The
Society of Indian Automobile Manufacturers said the size of the
domestic passenger vehicles market is likely to touch 5.6mn units by
2017, despite the market witnessing a slowdown in recent months. (BS)
± India’s
steel consumption grew by 1.3% in the first five months (April-August)
of this financial year. The production, however, grew by 9.9%. (BS)
± The
ministry of mines has sought clearance from the Cabinet for making
amendments to the existing mining legislation. Besides introducing a
benefit sharing regime, the proposed law will also be making provisions
for regulating mining in the country. (BS)
± The Land Acquisition Bill was tabled in Parliament, setting a base level for compensation to even its dependents. (ET)
ONGC (FPO) Opens on 20th Sep. & Closes on
23rd Sep.
P.G. Electroplast IPO 1st Day Subscribed 0.00 in
All Category
Today Listing: T. D.
Power Systems (BSE Code: 533553)
P G Electroplast IPO Subscribed
No of Shares
Offered / Reserved
|
7-8-2011
|
|
QIB
|
2872500 Shares
|
0.00
|
HNI
|
861750 Shares
|
0.00
|
Retail
|
2010750 Shares
|
0.00
|
Average
|
Total 5745000 Shares
|
0.00
|
The investors of bond market got jolted with discount listing of Shriram City
Union
The attraction for Bond issue has finally
subsided, Uphill task for new bond issue
Bond News Dt.: 8-9-2011
Subscribe to:
Posts (Atom)
JOIN US!!
Send SMS for "STUDY" on 09825677777