NBCC, MT Educare

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	-12 to -15 (Seller)	--	--	--
NBCC	106	3 to 3.50	--	--	--
MT Educare Ltd	74 to 80	5 to 6

MT Educare IPO subscribed 4.44 times

Gets bids for 4.88 crore shares The initial public offer (IPO) of MT Educare, an education support and coaching services provider, was subscribed 4.44 times by 16:00 IST on the last day of bidding for the issue today, 29 March 2012. The IPO received bids for 4.88 crore shares. The price band for the issue was fixed at Rs 74-80 a share. The IPO comprised of fresh issue of Rs 35 crore and an offer for sale of up to 80 lakh equity shares by Helix Investments Company which is a private equity (PE) fund. Helix had pumped in Rs 32.80 crore in MT Educare in 2007.

Daily News Roundup - March 30 2012

Independent directors oppose Coal India's fuel supply pacts. (BL) Essar Oil Ltd has completed the Rs83bn capacity expansion of its Vadinar refinery. (BL) Engineers India Ltd has signed an MoU with Nalco Water India Ltd, a subsidiary of Nalco. (BL) Ashok Leyland has said that it will form a separate subsidiary as it explores expansion into the aerospace business with global partners. (BL) Tata Motors has raised prices of its commercial vehicles (CV) by upto Rs0.06mn effective March 17. (BL)

Sensex, Nifty survive 200-DMA test

In the end, it was a fairly subdued F&O expiry session for the Indian markets. The good thing is that the key stock indices managed to claw their way back towards the close of trade to end near day's peak. They still closed with marginal losses. There was some intraday volatility but not a great deal with the Bank Nifty witnessing short rollovers. After a gap down opening, the Indian equity benchmarks turned choppy and remained in a narrow range in the first half. However, the bulls turned the tide in late afternoon trade, with the main indices almost erasing all of the losses thanks to selective buying in Pharma and Auto stocks. The BSE Sensex ended at 17,058, down 63 points or ~0.4% over the previous close. It had earlier touched a day’s low of 16,920 and a day’s high of 17,109. It opened at 17,039. The NSE Nifty settled at 5,179, down 16 points or 0.3% over the previous close. It earlier touched a day’s low of 5,136 and day’s high of 5,194. The INDIA VIX on the NSE ended lower by 2.2% to close at 24.33. It hit day's high of 25.86. It hit a day's low of 24.19.

The Good, the bad and the ugly

"Bad news travels fast." - American Proverb. While the start may be higher the ratio of good news to bad news is skewed towards the latter. Risky assets are still maintaining some of this year’s gains, but market players are looking for incremental good news. The Budget hasn’t been able to perk up the mood. If anything, some of the ugly proposals such as the GAAR provisions have spooked the markets. Mind you, we haven't heard or read the last word on this controversial issue as yet. The FM’s attempt at fiscal consolidation has not evoked a favourable response either. Bond yields have actually climbed and a rate cut on April 17 is not a certainty now. The rupee is once again feeling the heat from rising twin deficits, moderating FII inflows and high crude oil prices.

Mixed finish for Bullions

Silver shines but gold drops for third straight day Bullion metal prices mixed on Thursday, 29 March 2012 at Comex. Gold prices ended lower for third straight day while silver prices rose. Comex gold futures ended the U.S. day session modestly lower on some follow-through selling pressure from solid losses posted on Wednesday. There was downside pressure on most raw commodity futures markets, including the precious metals. The key “outside markets” were also bearish for the precious metals on Thursday, as the U.S. dollar index was steady and crude oil prices were sharply lower. Gold for June delivery ended lower by $5.6 or 0.3%, to end at $1,654.9 an ounce on the Comex division of the New York Mercantile Exchange on Thursday. The metal had struggled for direction earlier, veering between small gains and losses. Prices shed 1.7% on the month of February 2012.

Market seen firm in opening trade; Tata Motors watched

The market is likely to see a firm start on Friday, 30 March 2012. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 14 points at the opening bell. Asian markets were trading mixed. Tata Motors on Thursday reportedly hiked prices by up to Rs.60,000 per unit on its entire range of commercial vehicles following hike in excise duty in the Union Budget 2012-13. The company hiked the prices of its commercial vehicles by 2-5% considering hikes in excise duty on vehicles and chassis. The hike was with effect from 17 March 2012. The board of Coal India (CIL) on Thursday, 29 March 2012, failed to finalise the fuel supply agreements a (FSA) due to production constraints. Key benchmark indices edged lower for the second straight day on Thursday, 29 March 2012 as weak global stocks weighed on sentiment. The BSE Sensex lost 63.01 points or 0.37% to settle at 17,058.61, its lowest closing level since 26 March 2012. Volatility was high as traders rolled over positions in the futures & options (F&O) segment from the near-month March 2012 series to April 2012 series ahead of to the expiry of March 2012 contracts. The March 2012 derivatives contracts expired on Thursday, 29 March 2012.

Markets to witness a subdued start

The Indian markets may open on a flat to positive note on account of SGX Nifty trading 16 points higher and positive global cues. Headlines for the day Petrol pump operators threaten strike. Unitech defends it right to seek arbitration. Muthoot Estate can't accept public deposits: RBI.

SGX Nifty Live Update - March 30 2012

5239.00 +7.50 (+0.14%)

MT Educare, NBCC Grey Market Premiums

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	-12 to -15 (Seller)	--	--	--
NBCC	106	3 to 3.50	--	--	--
MT Educare Ltd	74 to 80	5 to 6

Daily News Roundup - March 29 2012

RIL has reorganized its finance operations under two chief financial officers for the first time. V Srikanth, who joined as deputy CFO in August 2010, has been elevated as CFO, placing him on an equal footing with the incumbent Alok Agarwal. (ET) Kingfisher Airlines appointed Manmohan Singh Kapur, Lalit Bhasin and Shrikant Ruparel as independent directors to fill in the vacancies caused by high-profile exits that coincided with the fast unfolding financial crisis in the airline. (ET) Danish telecom operator TDC said it had entered a deal with TCS to replace CSC as its IT services provider. The contract will run for four years with a two-year extension option. (ET)

Nifty falters ahead of F&O expiry...Ends below 5200

The Indian stock markets weakened ahead of the F&O expiry on Thursday, as market players remained wary of near-term prospects amid a spate of headwinds. The undercurrent continues to be jittery over the impact of the proposed GAAR tax regulations on FII investments through Mauritius and via Participatory Notes (PNs). Barring a brief period in the morning session, the indices were under pressure almost throughout the session. As usual, the selling accelerated in the afternoon, with the benchmarks hitting new lows before recovering by the close of trade. Reported clarifications on GAAR tax regulations and soothing words from the FM on the vexed issue may have calmed some frayed nerves. However, the uncertainties do not end here. As a result, the market is unlikely to heave a sigh of relief until the matter is settled. The sudden drop in FII inflows in the past couple of sessions is testimony of escalating tension on the GAAR issue. The BSE Sensex ended at 17,122, down 135 points or ~0.8% over the previous close. It had earlier touched a day’s low of 17,040 and a day’s high of 17,245. It opened at 17,234. The NSE Nifty settled at 5,194, down 48 points or 1% over the previous close. It earlier touched a day’s low of 5,170 and day’s high of 5,236.

Pressure prevails

"Force, violence, pressure, or compulsion with a view to conformity, are both uncivilized and undemocratic". - Mahatma Gandhi. There is no dearth of pressure at the moment as far as Indian markets are concerned. Be it the stocks, bonds or the rupee. All assets are under pressure. The macro-economic scenario is not looking rosy. Inflation is likely to stay elevated even as uncertainty continues over the RBI’s call on interest rates. The Government’s borrowing calendar for H1 FY13 has sent benchmark 10-year bond yields to three-month high amid lingering worries over high fiscal deficit. The rupee is also on sticky wicket amid rising twin deficits and falling forex reserves. The confusion over GAAR tax norms and P-Notes has only dimmed the near-term prospects for our markets. Usual intraday gyrations are a given on F&O expiry day. The overall bias is likely to be negative. The opening will be down owing to weak global cues. US stocks dropped following a lower-than-expected report on durable goods orders. Asian markets are mostly in the red. European indices also finished lower ahead of yet another EU summit. Euro area members are likely to boost the financial firewall to rein in the credit crisis. The NSE Nifty managed to close above the crucial support of 200 DMA, which is currently placed at 5153 levels. The rising support line was violated on intraday basis but with the closing above 5180 levels the trendline support remains intact. The positive reaction for the Nifty would be reaffirmed with a move above 5230 levels. Till then, the critical trading range will be 5150-5230. Trend in FII flows: The FIIs were net sellers of Rs 1.48bn in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net buyers of Rs 730.3mn, as per the provisional figures released by the NSE. The FIIs were net buyers of Rs 3.92bn in the F&O segment on Wednesday, according to the provisional NSE data. The foreign funds were net buyers at Rs 789mn in the cash segment on Tuesday, according to the SEBI figures. Mutual Funds were also net sellers of Rs 1.52bn on the same day. Global Data Watch today: Eurozone industrial confidence, UK Nationwide housing prices, Germany unemployment rate, Fed's Fisher speech, UK index of services, UK money supply, US GDP data, Us weekly jobless claims, Fed's Lockhart speech and Fed chairman Bernanke's speech.

Markets may continue negative trend; eyes on F&O expiry

The Indian markets are expected to open on a negative note due to negative global cues. Headlines for the day: L&T upbeat on nuclear power plant component exports SBI may get Rs 7,900cr govt infusion on Thursday Vijay Mallya may sell United Breweries stake to save Kingfisher Airlines Sun Pharma recalls 1,55,000 eye solution bottles ACC to invest Rs 3,330 cr on expansion plan by 2015

Market seen subdued at start on weak Asian equities

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a slide of 51.50 points at the opening bell. Asian markets were trading weak on Thursday, 29 March 2012. The market may remain volatile today, 29 March 2012, as traders roll over positions from the near-month March 2012 series to April 2012 series due to the expiry of March 2012 derivatives contracts. ONGC may be in demand on reports the Petroleum and Natural Gas Ministry on Wednesday, 28 March 2012 signed production sharing contracts (PSCs) for the newly awarded 16 oil and gas blocks under the ninth round of new exploration licensing policy (NELP) with the state-run oil exploration giant emerging as the biggest winner with six blocks. However, ONGC saw its bids being rejected for eight blocks including give deep sea for various reasons. Coal India will be in focus as the company's board will meet again today, 29 March 2012 to approve the new draft fuel supply agreement.

SGX Nifty Live Update - March 29 2012

5201.50 -53.75 (-1.02%)

BSE Bulk Deals to Watch - March 28 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 28/3/2012 512161 8K Miles Software NISHIL SURENDRABHAI MARFATIA B 120000 54.35 28/3/2012 512161 8K Miles Software PANKAJ NARAYANDAS PATEL S 121653 54.36 28/3/2012 520123 ABC India-$ LENSECO S 34405 121.39 28/3/2012 503675 Agarwal Hold RAJ KUMAR ARORA B 45965 205.23 28/3/2012 524448 Ahlcon Par RAJASTHAN GLOBAL SECURITIES LTD B 81678 419.40 28/3/2012 524448 Ahlcon Par SRIHARI BABU KANCHERLA S 54500 419.09 28/3/2012 524448 Ahlcon Par SUJATHA KANCHERLA S 50225 419.65 28/3/2012 524075 Albert David-$ LOK PRAKASHAN LIMITED B 49931 82.25 28/3/2012 524075 Albert David-$ RAVIRAJ DEVELOPERS LIMITED S 50050 82.25 28/3/2012 531560 Aroma Enterprises SHREE MALLIKARJUN TRAD INVEST PRIVATE LIMITED B 160000 10.81 28/3/2012 531560 Aroma Enterprises PARULBEN DEVJIBHAI PATEL S 46200 10.81 28/3/2012 531560 Aroma Enterprises VICKY RAJESH JHAVERI S 55400 10.81

NSE Bulk Deals to Watch - March 29 2012

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 28-MAR-2012,AKSHOPTFBR,Aksh Optifibre Limited,D K JAIN.,BUY,956512,14.38,- 28-MAR-2012,APOLLOHOSP,Apollo Hospitals Ltd,PCR INVESTMENTS LIMITED,BUY,1238000,628.35,- 28-MAR-2012,DOLPHINOFF,Dolphin Offshore Enterpri,RUCHIT B. PATEL,BUY,195027,78.55,- 28-MAR-2012,EMMBI,Emmbi Polyarns Ltd,SWEDISH PORTFOLIO PRIVATE LIMITED,BUY,108175,13.10,- 28-MAR-2012,GDL,Gateway Distriparks Limit,INDEA ABSOLUTE RETURN FUND,BUY,562016,148.00,- 28-MAR-2012,HARRMALAYA,Harrisons Malayalam Ltd,RPG CELLULAR INVESTMENTS & HOLDINGS P LTD,BUY,348570,67.39,- 28-MAR-2012,INDIANHUME,Indian Hume Pipe Co. Ltd,Bharat Patel,BUY,650000,124.03,- 28-MAR-2012,INVENTURE,Inventure Gro & Sec Ltd,NITIN BABAJI PALANDE,BUY,102892,279.13,-

Sensex ends 136 points lower on profit booking

Profit booking was the main reason behind today’s fall as the markets had rallied quite sharply yesterday. The Sensex fell 136 points and the Nifty slid 48 points. Major Headlines UBL gains on stake sale report Oil Min seeks Rs400 bln extra cash compensation from FM FM hints roll back of excise duty on unbranded jewellery Govt should consider diesel decontrol: Rangarajan

United Spirits leads gainers in 'A' group

India Securities, Muthoot Finance, Manappuram Finance and Union Bank of India are among the other gainers. Liquor maker United Spirits rose 4.89% to Rs 586.45. The stock topped the gainers in the BSE's 'A' group. Some media reports today, 28 March 2012, suggested that Heineken may acquire controlling stake in United Breweries (UBL). According to reports, Heineken currently holds 37.5% stake in UBL. UB Group Chairman Vijay Mallya may reportedly sell between 12-13% stake held in UBL, which will allow Heineken' stake to reach 50%. As on 31 December 2011, United Spirit held 3.22% stake in UBL. India Securities rose 3.36% to Rs 58.45. The stock was second biggest gainer in 'A' group. Gold financing firm Muthoot Finance rose 2.97% to Rs 131.80. The stock was third biggest gainer in 'A' group. Shares of gold financing firms, Muthoot Finance and Manappuram Finance, jumped on bargain hunting after a recent steep slide triggered by the central bank tightening gold loan norms for non-banking financial companies.

Market slides on negative global cues; breadth weak

Key benchmark indices edged lower as weak global stocks weighed on sentiment. The 50-unit S&P CNX Nifty trimmed losses after hitting 8-week low in late trade. The market breadth was weak. The barometer index, BSE Sensex, lost 135.74 points or 0.79%, up about 80 points from the day's low and off close to 120 points from the day's high. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Cigarette maker ITC hit record high. The barometer index, BSE Sensex, has fallen 631.06 points or 3.55% in March 2012 so far (till 28 March 2012). The index has surged 1,666.70 points or 10.78% in calendar 2012 so far. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,985.76 points or 13.11%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,689.52 points or 13.57%. Coming back to today's trade, Tata Steel rose after the company reportedly raised the borrowing limit to Rs 50000 crore. Software pivotals were mixed. Power generation major NTPC extended Tuesday's fall. Engineering & construction major Larsen & Toubro (L&T) reversed Tuesday's gains. Interest rate sensitive banking stocks declined on fears banks' bad loans could increase in a slowing economy. State Bank of India dropped after the bank raised fixed deposit rates on select maturities by up to 1% amid tight liquidity situation.

Grey Market Premiums - NBCC, MT Educare

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	1 to 1.50 (Seller)	--	--	--
Olympic Cards Ltd.	30 (Flore Price)	-1 to -1.50 (Discount)	--	--	--
NBCC	90 to 106	3 to 3.50	--	--	--
MT Educare Ltd	74 to 80	5 to 5.50

Daily News Roundup - March 28 2012

L&T Finance has agreed to buy Fidelity’s Indian funds, becoming the tenth-biggest equity fund house in a highly fragmented and competitive market marked by wafer-thin profitability. (ET) SBI has raised interest rates on short-term deposits by a percentage point. It would offer 8% on deposits of various maturities below one year, a structure that could nullify the high rates private banks offer. (ET) Debt-laden Kingfisher Airlines has shut 28 of its 56 destinations to which it operated flights over the past two days making at least 40-50% of its staff redundant. (ET) Maruti is planning to cut car production at its Gurgaon plant and has no intentions of completely shifting vehicle production out of the city in the immediate future. (ET) The Directorate General of Hydrocarbons has rejected Reliance Industries argument that geological complexities were preventing the company from drilling more wells to reverse the sharp fall in gas output from the D6 block. (ET)

Sensex spurts on GAAR relief...But anxiety prevails

The main Indian stock indices ended with handsome gains on Tuesday, almost managing to reverse the previous day’s losses. The sentiment in the Indian market perked up in the afternoon trades after a Finance Ministry official was quoted as saying that the Government will not target Participatory Notes (PNs) across the board under the new GAAR regulations. Monday’s sharp fall had come amid fears that FIIs from Mauritius and investments made through PNs will be taxed from April 1 when the proposed GAAR comes into effect. PNs will be taxed under GAAR if they fail in one out of four tests, according to reports. The tests include Lack of Commercial Purpose test, Bonafide Purpose test, Misuse & Abuse test and Abnormality test.

Taxing times

"There is no such thing as a good tax." - Winston Churchill. Reported clarifications on GAAR tax regulations and soothing words from the FM on the vexed issue may have calmed some frayed nerves. However, the uncertainties do not end here. As a result, the market is unlikely to heave a sigh of relief until the matter is settled. The sudden drop in FII inflows in the past couple of sessions is testimony of escalating tension on the GAAR issue. We expect a lower opening as global markets have taken a breather after rallying on Ben Bernanke’s dovish remarks. US stocks fell on mixed economic reports. European indices too finished lower. Stock benchmarks in Japan and China are pacing a decline in Asia this morning.

Agent Vinod opening week collection Rs49 crore worldwide

Eros International Media a leading global company in the Indian film entertainment industry has announced a successful opening of Rs49 crore gross worldwide for Saif All Khan’s latest release Agent Vinod. The film has grossed over Rs41.5 crore in India and Rs7.65 crore overseas. The film co-produced in association with illuminati films, released across 2500 screens worldwide on 23 March, 2012. Speaking on the film’s performance, Nandu Ahu, Sr. VP, India Theatrical, Eros International Media Ltd said, With Agent Vinod, Bollywood’s espionage genre comes of age and Shriram Raghavan has once again captured the audiences’ imagination with the edgy fast paced thriller coupled with some never before seen stylish action sequences”. Pranab Kapadia, President — Marketing & Distribution - Eros International plc added, “Audiences worldwide have appreciated Shriram Raghavan’s spy thriller along with Saif All Khan’s slick stylish spy avatar”. One of the highly awaited films of this year, Agent Vinod has an ensemble star cast of Saif All Khan, Kareena Kapoor, Prem Chopra, Gulshan Grover, Shahbaaz Khan, debutante Maryam Zakaria along with cameo appearances by Ravi Kishen, Ram Kapoor and music by Pritam. At 9.35 am, Eros International Media was trading at Rs185.75, down by 2.06%, with a volume of 6853 shares on the BSE.

Market seen opening lower on weak Asian equities

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 17 points at the opening bell. Asian markets edged lower on Wednesday, 28 March 2012, as investors waited for more clues on the state of the US economy. State Bank of India (SBI) has raised fixed deposit rates on select maturities by up to 1% with effect from Wednesday, 27 March 2012, amid tight liquidity situation. Fixed deposits with maturity period of 7-90 days will earn 8% interest against existing 7%. Interest rates on 91-179 day and 181-240 day period fixed deposits have been raised by 0.75% and 1%, respectively. The rate of interest will be 8% now. Interest rate on 241-day to one-year deposits has been raised by 0.25% to 8%. The announcement was made after market hours on Tuesday, 27 March 2012. GAIL (India) on Tuesday said it has set gas transmission target of 121.55 MMSCMD and gas marketing target of 85.75 MMSCMD from domestic sources and through LNG route for the year ending March 2013 (FY 2013) under the annual memorandum of understanding (MoU) signed with the Ministry of Petroleum and Natural Gas. The MoU provides for production target of 430 TMT of polymers (HDPE & LLDPE) and 1,370 TMT of liquid hydrocarbons, GAIL (India) said. The financial targets are set at Rs 43430 crore of gross sales and gross margin of Rs 6287 crore, the company said. The announcement was made after market hours on Tuesday, 27 March 2012.

BSE Bulk Deals to Watch - March 27 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 27/3/2012 512161 8K Miles Software NIRAJ NAGINDAS SHAH S 30000 56.10 27/3/2012 530027 Aadi Inds DEELIP DHARAMCHAND BOTHARA B 75000 5.20 27/3/2012 530027 Aadi Inds SONAL SUNILKUMAR KOTECHA S 75000 5.20 27/3/2012 503675 Agarwal Hold PRAVEEN KUMAR ARORA B 50000 205.68 27/3/2012 530621 Akar Tools SANJAY KOTHARI B 135000 29.06 27/3/2012 530621 Akar Tools ANANTROOP TRADING PVT LTD S 135000 29.06 27/3/2012 532351 Aksh Optifibre ASP INVESTMENT CONSULTANTS PVT LTD B 894374 13.55 27/3/2012 532351 Aksh Optifibre RAJESH M SHAH HUF S 858814 13.55 27/3/2012 531720 Alpha Graphic AVENUE DEALESRS PVT.LTD. B 176600 25.93 27/3/2012 521131 Anjani Dham Inds NISHIL SURENDRABHAI MARFATIA B 48883 14.88 27/3/2012 531448 ARROW SECURI KIRITKUMAR SHAH B 65000 8.22 27/3/2012 531448 ARROW SECURI VISHAL VINODRAY MISTRY S 37990 8.22 27/3/2012 531568 Ashutosh Paper PNR Systems Private Limited B 42000 23.65 27/3/2012 531568 Ashutosh Paper HSI INFOTECH PRIVATE LIMITED B 75000 23.65

NSE Bulk Deals to Watch - March 27 2012

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 27-MAR-2012,AKSHOPTFBR,Aksh Optifibre Limited,MAHALAXMI CRESEC PRIVATE LIMITED,BUY,860000,13.50,- 27-MAR-2012,CEBBCO,Commercial Eng & Co. Ltd,KETAN DESAI,BUY,1000000,60.00,- 27-MAR-2012,FAME,Fame India Limited,GUJARAT FLUORO CHEMICALS LTD,BUY,291500,72.84,- 27-MAR-2012,FLEXITUFF,Flexituff Inter Limited,RAGHUKUL SHARES INDIA PRIVATE LIMITED,BUY,129000,255.31,- 27-MAR-2012,HARRMALAYA,Harrisons Malayalam Ltd,RPG CELLULAR INVESTMENTS & HOLDINGS P LTD,BUY,350000,67.50,- 27-MAR-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2269554,88.79,- 27-MAR-2012,HYDRBADIND,Hyderabad Industries Ltd,Bharat Patel,BUY,74951,291.50,-

NBCC Final Subscription Figures

Qualified Institutional Buyers (QIBs) 7.07 Non Institutional Investors 1.70 Retail Individual Investors (RIIs) 3.40

Heavyweights lift Sensex 205 points higher post yesterday's mayhem

Indian markets showed strength in today's trading session after a drastic fall yesterday, with the Sensex closing 205 points higher and the nifty rising by 59 points. Major Headlines TRAI says no refund for cancelled licences Nalco rises on stake sale Satyam Australian unit plans buyout

Sensex provisionally up 1.33%; ITC scales record high

Key benchmark indices surged in choppy trade after television reports said the government will not target participatory notes in a blanket manner under its newly proposed rules targeting tax avoidance. The barometer index, BSE Sensex, was provisionally up 227.28 points or 1.33%, up 218.90 points from the day's low and off 86.78 points from the day's high. The market breadth was negative. Index heavyweight Reliance Industries (RIL) logged small gains in volatile trade. Cigarette maker ITC scaled a record high. Software pivotals rose after the US Federal Reserve Chairman Ben Bernanke on Monday, 26 March 2012, said easy monetary policy would remain in place for some time even though the US economy has shown signs of improvement. Banking pivotals edged higher in volatile trade. Cairn India rose as crude price rose. Maruti Suzuki India declined after the Maharashtra state government increased the tax on petrol and diesel cars sold in state in the budget for 2012-13 tabled in the Maharashtra assembly on Monday by state finance minister and deputy chief minister Ajit Pawar. TV reports citing unnamed finance ministry officials said that the finance ministry will not be chasing after P-notes, or derivative products that allow foreign investors to invest anonymously into Indian equities, as part of its recently proposed General Anti-Avoidance Rule (GAAR) which come into effect from 1 April 2012. Participatory Notes or P-Notes are instruments issued by registered foreign institutional investors to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India (Sebi). Only participatory notes which fail certain regulatory tests may be subject to taxation, the reports said.

Grey Market Premium - NBCC drops

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	1 to 1.50 (Seller)	--	--	--
Olympic Cards Ltd.	30 (Flore Price)	-1 to -1.50 (Discount)	--	--	--
NBCC	90 to 106	4 to 4.50 (Seller)	--	--	--
MT Educare Ltd	74 to 80	3 to 4