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Monday, April 25, 2011

Future Ventures India IPO subscribed 22%

Gets bids for 16.26 crore shares

The initial public offering (IPO) of the Kishor Biyani-promoted Future Ventures India was subscribed 0.22 times as at 16:00 IST on day one of bidding today, 25 April 2011. The issue got bids for 16.26 crore shares compared with 75 crore shares on offer.

Market snaps three-day winning streak

Index heavyweight Reliance Industries' (RIL) lower-than-expected bottom line growth in Q4 March 2011 pulled the key benchmark indices marginally lower in volatile trade. The market today, 25 April 2011, snapped a three-day winning streak. The BSE 30-share Sensex was down 17.92 points or 0.09%, off close to 115 points from the day's high and up close to 50 points from the day's low. Sterlite Industries surged on strong Q4 result. Maruti Suzuki India moved higher after reporting sequential growth in net profit in Q4 March 2011.

Muthoot Finance Grey Market Premium

Company Name

Offer Price




Muthoot Finance

160 to 175

26 to 27

Paramount Print Packaging

32 to 35

3.50 to 4

Future Ventures

10 to 11

0.35 to 0.50

Innoventive Industries

117 to 120

12 to 13

Servalakshmi Paper Ltd.

27 to 29

2.50 to 3

Vaswani Ind.

45 to 48

3.75 to 4

Markets may open on a flat note; RIL eyed

The Indian indices are likely to begin the new week on a flat to negative note as the results of industry mammoth Reliance Industries were below expectations

Headlines for the day:

RBI likely to pull up 7 banks for flouting currency regulations

RIL likely to invest over Rs1.5 lakh crore in next 5 yrs

Like ONGC, OIL may also go for stock split

Daily News Roundup - Apr 25 2011

Zensar budgets Rs1bn to buy US-based SAP firms. (BL)

Dr Reddy's reaches deal with Pfizer arm on patent case involving generic version of blockbuster anti-depressant drug Effexor XR. (BL)

Indian Bank plans to raise US$1bn medium term notes to expand its overseas lending. (BL)

Nifty ends above 5850 despite rising inflation

The BSE Sensex ended at 19,602 adding 131 points. While, NSE Nifty gained by 33 points to close at 5,884.

The Indian markets extended its winning streak to third straight trading session on Thursday ending a truncated week on a positive note. Markets started off with in the green amid gains in the equity markets across the globe. However, key indices saw a sharp decline after the weekly inflation data dampened the sentiments.
The annual rate of inflation in the food space rose in the second week of April but stayed below the double digit mark for the fourth straight week. India’s food inflation increased to 8.74% in the week ended April 9 from 8.28% in the previous week.

Soft start, firmness ahead

Challenges are gifts that force us to search for a new center of gravity. Don't fight them. Just find a different way to stand. - Oprah Winfrey.

After the long Easter weekend, world markets will try to remain resurrected despite a series of headwinds. As has been the case lately, earnings will continue to dominate the headlines for a few more days. Talking of India, the disappointment from index bellwether Reliance could put a lid on gains at least in the early trade. The start could be subdued but we could see some positive action later in the day.

Precious metals continue to glitter

Gold and silver rise for seventh straight day

Precious metal prices witnessed new highs and they ended substantially higher once again on Thursday, 21 April 2011 at Comex. It was seventh 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. Thursday was the last trading day of the week as market was closed on Friday, 22 April because of Good Friday holiday.

Crude ends modestly higher

Weak dollar, Mid East tension and inventory data push up prices

Crude oil prices ended modestly higher on Thursday, 21 April 2011. Weekly inventory data from the energy department earlier during the week coupled with weak dollar pushed crude prices higher on Thursday. Mixed economic data also pushed up prices. Ongoing supply fears surrounding unresolved geopolitical tensions in the Middle East and, most recently, Nigeria also impacted prices.

RIL's lower than expected Q4 result may weigh on investor sentiment

Index heavyweight Reliance Industries' (RIL) lower than expected Q4 result may drag the market lower. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 5 points at the opening bell. Asian markets were mixed.

Global markets including Indian bourses remained shut on Friday, 22 April 2011, on account of Good Friday.

Foreign institutional investors (FIIs) bought shares worth Rs 307.79 crore and domestic institutional investors (DIIs) sold shares worth Rs 269.61 crore on Thursday, 21 April 2011 as per provisional data. FIIs bought shares worth a Rs 402.30 crore from the secondary equity markets on Wednesday, 20 April 2011. FIIs had bought shares worth a net Rs 1836 crore from the secondary equity markets on Tuesday, 19 April 2011.

SGX Nifty Live Update - Apr 25 2011

5,895.50 -6.00