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Tuesday, September 28, 2010
Non institutional investors throng VA Tech Wabag IPO
Overall IPO subscribed 36.22 times
VA Tech Wabag's initial public offering (IPO) ended on 27 September 2010 with 36.22 times subscription. The IPO received bids for 11.33 crore shares compared with 31.28 lakh shares on offer.
Turnover surges
RIL, Bhel September 2010 futures at premium
Nifty September 2010 futures were at 6,055.20, at a premium of 25.70 points compared to spot closing of 6,029.50. Nifty October 2010 futures were at 6,071.20, at a premium of 41.70 points compared to spot closing of 6,029.50.
Markets end in red across Asia
Profit selling on a high after latest strong of gains
Asian markets moved lower today, sliding amid a volatile activity in the global currency markets as the traders eyed the weak overnight trades and worries over the Eurozone credit troubles remained in place. The markets did not pay much of an attention to the latest updates from the Asian Development Bank stating that developing Asia's robust recovery from the global crisis is gaining further momentum. In its annual flagship economic publication Asian Development Outlook 2010 Update, the ADB forecast a healthy growth of 8.2% in 2010, well above 5.4% recorded in 2009 and also above ADB's earlier forecast of 7.5%. Markets were more geared towards a downward bias given the selling pressure in risky assets and a recovery in the US dollar from fresh five month lows.
Ashoka Buildcon Allotment - Subscription Details
Qualified Institutional Buyers (QIBs) 25.52
Non Institutional Investors 13.91
Retail Individual Investors (RIIs) 3.46
Tecpro Systems Allotment - Subscription Details
Qualified Institutional Buyers (QIBs) 27.99
Non Institutional Investors 62.48
Retail Individual Investors (RIIs) 9.07
Post Market Review - Sep 28 2010
Markets ended flat after a choppy trading session. Sensex closed at 20104, down 2 points while Nifty lost 6 points to close at 6029. BSE Mid-cap and Small-cap indices gained 0.2% and 0.03% respectively. Stocks belonging to capital goods sector saw smart gains in today’s trade led by ABB and Siemens. Supreme Court today lifted stay on the Ayodhya case verdict and now the verdict will be delivered by Lucknow bench of Allahabad High Court on September 30th at 3.30 pm. European markets after dipping sharply in the red, pared losses and were trading down about a third of a percent. US stock indices futures were up about a third of a percent ahead of data on home prices and consumer confidence.
Markets recover at fag-end
Major headlines
Reliance Power aims to be largest private power company by 2015; the stock closes 1.68% higher
Venus Remedies surges on securing Thai contract; the stock closes 4.19% higher
GEI Industrial spurts on new order win; the stock higher by 1.74%
BSE Bulk Deals to Watch - Sep 28 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
28/9/2010 513513 Aditya Ispat HITESH KISHORBHAI MAKWANA B 30000 17.18
28/9/2010 513513 Aditya Ispat JMP SECURITIES PVT LTD B 96539 16.42
NSE Bulk Deals to Watch - Sep 28 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
28-SEP-2010,ASTRAL,Astral Poly Technik Limit,RELIANCE CAPITAL ASSET MGMT LTD A/C PMS,BUY,143043,171.18,-
Market ends marginally lower
The key benchmark indices registered marginal losses amidst high intraday volatility as traders rolled over positions in the derivatives segment, from the near-month September 2010 series, to October 2010 series, ahead of the expiry of the near-month September 2010 derivatives contracts on Thursday, 30 September 2010. An intraday recovery in European stocks and US index futures, aided a strong intraday rebound on the domestic bourses.
Profit booking may pull market lower
Weak Asian stocks may trigger profit taking on the domestic bourses, which surged sharply this month. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 5.50 points at the opening bell.
Daily News Roundup - Sep 28 2010
Suzlon Energy is in talks to buy the remaining 9% stake in German unit REpower Systems AG. (BS)
L&T has bagged an order worth Rs16.1bn from Visa Power, for its 2x600 MW power plant being set up in Chhattisgarh. (ET)
Grey Market Premium - COAL India, VA Tech Wabag
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Indosolar Ltd. | 29 (Lower Band) | 0.65 to 0.75 (Paise) |
| Tirupati Inks (FPO) | 43 (Upper Band) | 7 to 8 |
| Career Point Infosystems | 310 (Upper Band) | 143 to 145 |
| Eros International | 175 (Upper Band) | 43 to 45 |
| Microsec Fin | 118 (Upper Band) | 13 to 15 |
| Ramky Infrastructure Ltd. | 450 | 14 to 15 |
| Orient Green Power | 47 to 55 | 0.50 to 0.60 (Paise) |
| Electro Steel | 10 to 11 | 1.50 to 1.65 |
| Gallantt Ispat | 50 (Fixed Price) | 2 to 2.50 |
| VA Tech Wabag | 1230 to 1310 | 325 to 300 |
| Cantabil Retail | 127 to 135 | 13 to 14 |
| Tecpro Systems | 340 to 355 | 55 to 57 |
| Ashoka Buildcon | 297 to 324 | 22 to 23 |
| Sea TV Network | 90 to 100 | 23 to 25 |
| Bedmutha Ind. | 95 to 102 | 13 to 14 |
| Coal India | 225 to 250 (Approx) | 12 to 14 |
Markets expect a cautious start
Headlines for the day:
Power Grid wants fresh offers for Rs7,000-crore project
Suzlon in talks to buy all of REpower
Steel prices may go up by Rs1,500 a tonne
FII frenzy and F&O volatility
Going up too fast is never considered prudent. Stay cautious as the external environment remains fragile at best. Key regions like the US, Europe and Japan are just limping along.
Our passion and principals are constantly in a frenzy, but begin to shift and waver, as we return to reason. - Laurence Sterne.
No bulls stop…Metals, Realty sparkle
The Indian market kicked off the new trading week in style, with the key stock indices extending gains led by Metals, Real Estate and Consumer Durables stocks. Even the broader indices managed to register smart gains today. FMCG and IT indices on the BSE were among the major laggards.
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