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Thursday, April 21, 2011
Grey Market Premiums - Muthoot Finance - Final Day
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Muthoot Finance | 160 to 175 | 27 to 28 |
| Paramount Print Packaging | 32 to 35 | 4 to 4.50 |
| Future Ventures | 10 to 11 | 0.75 to 1 |
| Innoventive Industries | 117 to 120 | 7 to 7.50 |
| Servalakshmi Paper Ltd. | 27 to 29 | 3 to 3.50 |
| Vaswani Ind. | 45 to 48 | 3.75 to 4 |
Eye on big results as weak ends!
If you care at all, you'll get some results. If you care enough, you'll get incredible results. - Anonymous.
Corporate results are hogging the headlines and will remain in the spotlight for some time to come. For today, the market participants will keep all their senses on high alert as Reliance Industries and TCS announce their numbers.
Investors will be keen to hear what the top management of the two bellwethers will say about their future prospects. Hindustan Zinc, Jindal Steel and Nestle India are the other top earnings to watch out for.
The start will be strong on the back of a worldwide rally in equities. Shares of Unitech, DB Realty and ADAG companies will be in focus after a trial court rejected the bails of 5 officials. The Delhi High Court is to take up their petitions today.
Daily News Roundup - Apr 21 2011
Oil minister to discuss decline in RIL’s KG block output. (ET)
Fitch upgrades RIL’s local currency rating. (BL)
ONGC FPO may hit market in June-July 2011. (ET)
Yes Bank to raise upto US$500mn in FY12. (BS)
Sensex scores triple ton...Nifty ends atop 5850
BSE Sensex ended at 19,470 surging 349 points. It had earlier touched a day's high of 19,485 and a day's low of 19,171. It opened at 19,274. While, the NSE Nifty shot up by 111 points to close at 5,851.
It was an impressive trading session for the Indian stock market on Wednesday amid strong gains across global equity markets, especially in Europe. In addition, forecast of normal monsoon and strong export growth added to the cheer. As a result, the news of CBI court rejecting the bail pleas of top telecom honchos didn't make any major dent, barring a brief hiccup in the afternoon session.
Gap-up start likely; RIL nos in focus
The Indian indices are expected to open on a healthy note on account of strong global cues. Reliance Industries' results will be out.
Headlines for the day:
Banks' credit grows 22%, deposits up 16.77% on an annual basis
Yes Bank to raise $500 million to fund biz growth
Tata Power to raise $450 million via bond sale
Muthoot Finance IPO subscribed 11.36 times
Gets bids for 49.73 crore shares
The initial public offer (IPO) of Muthoot Finance was subscribed 11.36 times by 16:00 IST on the third day of the issue today, 20 April 2011. The IPO received bids for 49.73 crore shares compared with 4.37 crore shares on offer.
Muthoot Finance is raising up to Rs 901.25 crore from the IPO, which opened for bidding on Monday, 18 April 2011. The issue closes on 21 April 2011. The company has set Rs 160-175 per share price band for the IPO.
Run for bullions continue
Gold and silver continue to shine as dollar weakens
Precious metal prices witnessed new highs and they ended substantially higher once again on Wednesday, 20 April 2011 at Comex. It was sixth consecutive day of straight gains for the bullions. Prices rose riding on the back of weak dollar and on inflation concerns as investors sought to bullions as a safer investment as debt problems continue to haunt the developed countries.
Market may extend gains on firm Asian stocks; food inflation data eyed
The market may extend last two days gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 40 points at the opening bell. On the macro front, the government will unveil data on some wholesale price indices for the year through 9 April 2011 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST.
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