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Wednesday, November 02, 2011
SKS Microfinace to raise money
Country's largest MFI SKS Microfinance today said it will raise up to Rs 900 crore through issue of shares to institutional investors.
The board of the country's only listed micro finance company has approved issuing equity shares through qualified institutional placement (QIP) to raise up to Rs 900 crore, SKS said in a filing to the BSE today.
The board also approved raising the authorised capital of the company to Rs 135 crore from Rs 95 crore.
BSE Bulk Deals to Watch - Nov 2 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/11/2011 531247 Alpha Hitech MOH SAJID NOORMIYA SHAIKH S 25413 5.97
2/11/2011 506027 Bhoruka Alum ALFA FISCAL SERVICES PVT LTD S 271237 3.05
2/11/2011 524506 Coral Lab CHETAN DOSHI B 19870 73.00
2/11/2011 524506 Coral Lab ELA ANIL SHETH S 20000 73.00
2/11/2011 508860 DIAMANT JATIN SHANTILAL SHAH S 190000 16.00
2/11/2011 530337 Exelon Infra ANITHA YARLAGADDA S 70000 33.65
NSE Bulk Deals to Watch - Nov 2 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-NOV-2011,GITANJALI,Gitanjali Gems Limited,DAVE HARIHAR KIRITBHAI,BUY,538807,354.71,-
02-NOV-2011,INDOTHAI,Indo Thai Sec Ltd,A K G SECURITIES AND CONSULTANCY LTD.,BUY,171756,57.15,-
02-NOV-2011,INDOTHAI,Indo Thai Sec Ltd,A VENKATESHAN,BUY,61537,67.37,-
02-NOV-2011,INDOTHAI,Indo Thai Sec Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,437130,49.37,-
Volatile markets end flat
The Indian markets witnessed volatility after two days of losses and ended the trade flat. The Sensex fell 16 points and the Nifty rose 0.50 points
Major headlines
PM on Euro zone crisis: Much more needs to be done
Arvind divests its stake in VF Arvind Brands
Allahabad Bank Q2 net profit jumps 21%
Bajaj Auto gains on healthy sales in Oct 2011
RCom gains on tie-up with RIL
Market ends choppy trading session lower
Volatility was at the forefront as key benchmark indices reversed direction and slipped into the red once again in late trade as European stocks and US index futures reversed initial gains. The BSE Sensex was provisionally down 33.45 points or 0.19%, off close to 170 points from the day's high and up close to 110 points from the day's low. The market breadth was negative. Index heavyweight Reliance Industries (RIL) trimmed initial gains. Another index heavyweight L&T edged lower in volatile trade.
Interest rate sensitive banking stocks were mixed. Realty stocks edged lower in volatile trade. IT stocks were mixed. Reliance Communications jumped on reports RIL is likely to use the towers and fibre optic cables of Reliance Communications controlled by Anil Ambani to provide high-speed data services. Other Anil Dhirubhai Ambani Group (ADAG) shares also edged higher.
Daily News Roundup - Nov 2 2011
Reliance Industries is likely to use the towers and fibre optic cables of a telecom company controlled by younger brother Anil to provide high-speed data services. (ET)
Fortis Healthcare (India) Ltd will acquire Singapore-based Fortis Healthcare International Pte Ltd, privately owned by the Indian company's founders for US$665mn. (ET)
IVRCL is close to selling two of its operational road projects to Larsen & Toubro for an undisclosed sum to unlock value and raise funds for projects under execution. (ET)
Shock and awe!
Truth makes many appeals, not the least of which is its power to shock. - Jules Renard.
Just when world markets were beginning to settle down comes another jolt from the eurozone. The prime minister of the debt-stricken Greece has stunned everyone by calling for a referendum on the EU bailout deal.
The surprise announcement from Greece has only added to the doubts over the fate of the grand plan to tame the eurozone debt crisis. The fresh turmoil in the financial markets comes ahead of the two-day G20 summit in France later this week.
News you can use - Nov 2 2011
Commodity:
Crude oil were down for a third day on Tuesday, after data pointed to a slowdown in Chinese manufacturing activity in October and amid renewed concerns over the euro zone's debt crisis.
Stock in news:
Car sales fail to pick up in festive season
Dena Bank aims to hit Rs 1.5 lakh crore mark by 2013
RBI extends remittance flexibility to exporters
Nalco begins water hunt in Sundergarh
Essar Oil to cap retail outlet expansion
Global Cues:
The European stocks sank on Tuesday (November 01, 2011), after Greece's move to hold a referendum on the European Union bailout package for the country cast doubts over the approval of the deal.
The US Stocks tumbled on Tuesday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally.
The Asian shares fell on Wednesday (November 02, 2011), as investors shed riskier assets after Greece's abrupt call for a referendum rekindled fears about the viability of a European debt deal reached just last week. SGX Nifty was trading 54 points lower, pointing towards a weak start on the Indian bourses.
Events to watch out for:
New Listing: Stock broking firm, Indo Thai Securities, is going to list its equity shares on the exchanges today. The company has fixed issue price at higher end of price band of Rs70-84 a share.
Result announcement:
Allahabad Bank, Andhra Bank, Onmobile Global, BGR Energy Systems and Hindustan Motors.
Market may extend losses on weak Asian stocks
The market may extend losses on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 54 points at the opening bell.
PSU OMCs and auto stocks will be in action on reports oil companies plan to raise petrol prices by Rs 1.50 a liter the 13th hike since June last year, as state-run firms have reported losses for the second consecutive quarter
Bullions drop for third consecutive day
Strength in US dollar and crisis in Greece continue to push them lower
Precious metals ended lower on Tuesday, 01 November 2011 at Comex. Prices were pushed lower due to strength in the US dollar and continuing crisis in Greece. But weaker than expected economic data provided some support to bullions during midday.
Gold for December delivery ended lower by $13.4 or 0.8%, to end at $1,711.8 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. Prices have shed more than 2% in the past three sessions. Last week, gold gained 6.8%. For the month of October, gold gained 6.3%. It registered a rise of 8% for the third quarter ending September.
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