Saturday, October 1, 2011
Friday, September 30, 2011
Market Commentary
The
markets are trying to adjust to the ever changing situations. Two top
leaders of the Congress and the UPA II have made some adjustments; the
chapter over the controversial 2G note is over, the leaders claim.
However, the problems for the Centre may not end with the
Pranab-Chidambaram united show of strength.
Meanwhile,
there is a new twist in the 2G saga with reports suggesting that the
CBI has offered 3 ADAG executive to turn approvers. ADAG has refuted
these claims.
We
expect a sluggish opening due to lack of decisive trend from the
external markets. Better economic data lifted the Dow and S&P 500
while the Nasdaq closed in the red.
Barring FTSE, most European benchmarks advanced after the German lower house cleared changes to the eurozone rescue fund.
The
Nifty closed above 5000 on F&O expiry day. It could consolidate in
the range of 4950-5000 and will meet resistance between 5050 and 5100.
On the whole, the 4700-5200 trading range may stay intact.
SWAJAS
AIR CHARTERS
IPO
unsubscribed on closing day & Extended with reduced price band
Prakash Constrowell
IPO Allotment Declared
New IPOs entering in Primary Market
Company Name
|
IPO Subscribed
(Average)
|
||
Swajas Air Charters
|
4th Day Subscribed 0.01
|
||
Tijaria Polypies Ltd. (Fixed Price)
|
Fixed Price IPO
|
||
M & B Switchgears
Ltd.
|
2nd Day Subscribed 0.02
|
||
One Life Capital
Advisors
|
2nd Day Subscribed 0.06
|
||
Takshell Solutions
|
1st Day Subscribed 0.46
|
||
Flexituff International
|
1st Day Subscribed 0.30
|
||
Indo Thai Securities
Ltd.
|
IPO Opens Today
|
For
Further information scroll to primary market
BUY AND HOLD
BUY AND HOLD "COX AND KINGS"
Corporate Snippets
± Ashok Leyland
has entered Tanzania with a US$36.56mn order from the Government of
Tanzania for 723 trucks, buses and special-application vehicles. (BL)
± Lanco Infratech Limited
has said that the Court of Appeal of the Supreme Court of Western
Australia has directed it to give 10 days' notice to Perdaman before
creation of security for the Griffin coal mining assets. (BL)
± Spice Jet
got its shareholders’ approval to issue additional equity shares to
promoter Kalanithi Maran, who in turn will infuse Rs1.3bn into the
airline. (BS)
± Kingfisher Airlines got guarantees worth over Rs61bn from Chairman Vijay Mallya in 2010-11 toward loan and other liabilities. (FE)
± NALCO
plans to diversify into nuclear power investing Rs114.5bn, but may move
out of Orissa for its new smelter and power project in view of
uncertainty on location. (FE)
± HCC said it has sold 14.5% stake in its step-down subsidiary HCC Concessions to Xander Group for Rs2.4bn. (FE)
± PFC
has demanded a timeline from Uttar Pradesh for improving the financial
health of its power distribution utilities if it wants more funds from
the financial institution. (FE)
Thursday, September 29, 2011
Market Commentary
The
undertone seems to be turning cautious again. Anxious apprehensions
continue over Europe’s resolve to tackle the region’s credit crisis.
Leaders of the debt-plagued region continue to bicker over possible new
measures to stop the debt contagion from worsening.
Reports
point to a rift over what the terms of another bailout for Greece
should be. The review team representing international lenders will
return to Greece on Thursday to examine Athens' austerity moves designed
to ensure it receives its next installment of aid.
The
start looks to be soft due to renewed selling in global equities. US
stocks tumbled while European indices too closed lower. Asian markets
are more or less in the negative zone. Overall the trend will be choppy
due to the F&O expiry today. Even otherwise, volatility is likely to
persist, as long as the fate of Greece and Europe hangs in balance.
Weekly
food inflation data, Germany’s unemployment, EU’s consumer confidence
and US GDP are among the key economic statistics to watch out for today.
SWAJAS
AIR CHARTERS
IPO
unsubscribed on closing day & Extended with reduced price band
Prakash Constrowell
IPO finally Subscribed 2.21 (Average)
Swajas Air Charters IPO 3rd Day
Subscribed 0.01 (average)
M & B Switchgears IPO 1st Day Subscribed
0.00 in all category
One Life Capital Advisors IPO 1st Day Subscribed
0.00 in all category
New IPOs entering in Primary Market
|
Company Name
|
Open
Date
|
Close
Date
|
|
Swajas Air Charters
|
26-9-2011
|
28-9-2011
|
|
Tijaria Polypies Ltd. (Fixed Price)
|
27-9-2011
|
29-9-2011
|
|
M & B Switchgears
Ltd.
|
28-9-2011
|
5-10-2011
|
|
One Life Capital
Advisors
|
28-9-2011
|
4-10-2011
|
|
Takshell Solutions
|
29-9-2011
|
4-10-2011
|
|
Flexituff International
|
29-9-2011
|
5-10-2011
|
|
Indo Thai Securities
Ltd.
|
30-9-2011
|
5-10-2011
|
For
Further information scroll to primary market
Wednesday, September 28, 2011
Market Commentary
The
market seems to have provided the much needed upturn as Navratri
celebrations begin. A smart recovery on Monday and a stellar rally on
Tuesday could be followed by a choppy day ahead of tomorrow’s F&O
expiry. The start is likely to be sluggish due to indecisive Asian
markets. US indices also closed off day’s highs. Multiple resistance
levels are placed in the zone of 4990-5030 and the rally can be
sustainable if the Nifty closes above 5030.
European
stocks continued to rally amid growing optimism about eurozone leaders’
efforts to prevent Greece from defaulting. The Greek parliament passed a
new property tax law as part of its austerity drive, sparking fresh
round of protests.
Votes
are expected in Germany, Finland, Estonia and Austria on whether or not
to ratify changes to the $600bn rescue fund. Overall, details about
Europe’s plan to contain the credit crisis are still sketchy and vague,
leaving ample scope for disappointment. So, betting too much on decisive
steps to nip the eurozone troubles in the bud could prove to be risky.
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