India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Friday, December 10, 2010
Punjab & Sind Bank
Punjab & Sind Bank (PSB) is a Government of India (GoI) undertaking with over 100 years of operation. It has significantly grown its branch network with a presence predominantly in north India. As on October 31, 2010, its network comprised of 926 branches and 63 owned ATMs and access to more than 50,000 ATMs across the country. It has 627 branches in North India out of which 402 branches are in Punjab alone. It also sponsored one regional rural bank, Sutlej Gramin Bank, in collaboration with the GoI and the state Government of Punjab. As on September 30, 2010, it has a total of 8,047 employees, serving over 0.66 crore customers.
Index heavyweights lead recovery; breadth strong
The key benchmark indices surged on the last day of the week as investors sought bargains after recent steep slide. Data showing strong-than-expected industrial production growth for October 2010 aided the recovery. The BSE 30-share Sensex was up 266.53 points or 1.3%, up close to 435 points from the day's low and off close to 30 points from the day's high. Gains in European stocks and higher US index futures also aided sentiment. Asian stocks were mostly lower.
Grey Market Premiums - Dec 10 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Claris Life science | 228 (Lower) | Discount |
| Manganese Ore Ltd. | 375 (Upper) | 150 to 155 |
| Shipping Corporation | 140 (Upper) | -- |
| Ravi Kumar Distilleries | 56 to 64 | 4 to 5 |
| A 2 Z Maintenance | 400 to 410 | 9 to 10 (High : 170) (Low : 8) |
| One 97 Communication | - | 3.50 to 4 |
| Punjab & Sind Bank | 113 to 120 | 34 to 35 |
Shaky confidence, nervous sentiment!
Risk comes from not knowing what you're doing. - Warren Buffett.
Thursday’s thrashing of the bulls has increased the risks, at least in the short term, as investor confidence has been shaken. The sharp selloff this week has dealt a short-term blow to the sentiment after last week’s smart recovery. The decay in the Small-Caps and Mid-Caps has spread to the Large Caps as well. Margin calls’ cascading effect has been another culprit, especially on the non-index counters.
Daily News Roundup - Dec 10 2010
Four companies may be short-listed by SAIL to submit price bids for the development and operation of a 4mn ton open-cast coking coal mine with inbuilt coal beneficiation plant at the Tasra block in Jharkhand. (BL)
Tata Motors unveiled three trucks from the Prima Construct global platform range designed for use in the construction and mining industries. (BL)
Tata Motors to assure Nano buyers with 4-year warranty. (ET)
Sensex succumbs to savage selloff
Looks like things are only getting worse for the Indian market, at least for the moment, with no let-up in the bear onslaught throughout this week. Today particularly was a horrible day for the bulls amid a severe bloodbath across the board.
Markets set for a lower start; IIP data eyed
The Indian indices are expected to start the session on a lower note tracking negative Asian markets. The IIP numbers for October 2010 will be eyed.
Headlines for the day:
ONGC bids for Exxon stake in Angola block
NMDC, Severstal to set up steel plant in Karnataka
Lavasa gets one more day to submit maps, other data
Market may extend losses on weak Asian stocks; industrial output data eyed
The market may extend this week's steep slide on weak Asian stocks. Heavy selling by foreign funds this week has dampened sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a fall of 25 points at the opening bell.
As per provisional data, foreign funds sold shares worth Rs 1296.30 crore and domestic funds bought shares worth Rs 827.92 crore on Thursday, 9 December 2010 when market fell close to 2.3%.
Subscribe to:
Posts (Atom)