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Saturday, August 14, 2010
SKS Microfinance to debut on the bourses on 16 August 2010
The company had priced the IPO at Rs 985 per share
Shares of the Hyderabad-based microfinance firm SKS Microfinance will debut on the secondary equity markets on Monday, 16 August 2010. The company has priced its initial public offering (IPO) at Rs 985 per share, at the top end of the Rs 850-985 per share price band. A discount of Rs 50 per share was offered to retail investors.
Fed resumes policy easing as US economy slows
The US Federal Reserve eased its monetary policy further, even as it downgraded its economic outlook amid growing fears that the world's largest economy is losing momentum. Fed's policymakers agreed to begin reinvesting proceeds from expiring mortgage-backed securities in longer-term Treasuries, to prevent its massive balance sheet from shrinking. "To help support the economic recovery in a context of price stability, the Committee will keep constant the Federal Reserve's holdings of securities at their current level by reinvesting principal payments from agency debt and agency mortgage-backed securities in longer-term Treasury securities," the FOMC said in a statement.
Weekly Newsletter - Aug 13 2010
Another bright start ended with a whimper for the Indian stocks amid mounting worries over a slowing global economy. The Federal Reserve's move to resume quantitative easing in light of a string of disappointing data points recently stoked fears of a possible double dip. China continues to slow though it is unlikely to confront a hard landing. The euro-zone is showing signs of a comeback, thanks largely to Germany's scorching pace. The UK has been hit due to deep spending cuts. Also, reports suggested fresh trouble in PIIGS, with the ECB apparently having to step in to check volatility in Irish bond market. Japan of course is facing its own set of issues.
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