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Thursday, December 02, 2010
Shipping Corp FPO subscribed 2.32 times
Gets bids for 19.68 crore shares
The follow-on public offer (FPO) of state-run Shipping Corporation of India (SCI) was subscribed 2.32 times on the third day of bidding for the issue today, 2 December 2010. The FPO got bids for 19.68 crore shares compared with 8.46 crore shares on offer. Bidding for the FPO by qualified institutional buyers ended today, 2 December 2010 while that for other category of investors ends on Friday, 3 December 2010.
Sensex jumps 4.47% in four days
The key benchmark indices edged higher in volatile trade as a slew of recent strong economic data, lower inflation and higher global stocks, helped keep sentiments firm. The market extended gained for the fourth straight day. The BSE 30-share Sensex jumped 142.70 points or 0.72%, off close to 90 points from the day's high and up close to 75 points from the day's low. The barometer index BSE Sensex closed below the psychological 20,000 mark after flirting with that level throughout the day. The 50-unit S&P CNX Nifty settled above the psychological 6,000 mark after flirting with that mark throughout the day.
MOIL Grey Market Premium - Dec 2 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| R.P.P. Infra Projects Ltd. | 75 | 1.25 to 1.50 |
| Claries Life science | 228 to 235 | 5 to 7 |
| Manganese Ore Ltd. | 340 to 375 | 265 to 270 |
Market may extend gains; food inflation data eyed
The key benchmark indices may gain for the fourth straight day this week tracking firm global stocks. The recent slew of strong domestic economic data may further aid investor sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could advance 46 points at the opening bell
Strong start likely on +ve global cues
Domestic markets are expected to resume the day on a steady note on the back of strong cues from global peers. The weekly inflation numbers are to be released later today
Headlines for the day:
HDFC, ICICI scrap teaser rates
Munjals, Honda close to rejig agreement
L&T Finance IPO may hit markets by January
Daily News Roundup - Dec 2 2010
BHEL has bagged Rs26.7bn order for supply and installation of a 2x600-MW thermal power plant at Raigarh in Chhattisgarh. (BL)
The Government has approved splitting of ONGC shares ahead of the FPO slated for March 2011. (BL)
Cabinet committee on economic affairs (CCEA) has formally accepted for ONGC share split.(ET)
Sensex soars...Nifty hits a ton
The Indian market has overlooked the mixed trend in the Asian markets and the overnight declines in the US market to be smartly up in the mid afternoon trade.
The broader market indices are doing even better than their frontline peers as investors snap up battered shares following last week's reversals.
From agony to ecstasy
Joy is the holy fire that keeps our purpose warm and our intelligence aglow. - Helen Keller.
After a subdued October and a tumultuous November, the bulls have something to cheer about. The Indian market has bounced back and looks like it has enough spirit left in it to go farther. For a change, the daily dose of news on various scams is likely to be buried by the positive global vibes.
MOIL Final Subscription Details
Qualified Institutional Buyers (QIBs) 49.16
Non Institutional Investors 143.30
Retail Individual Investors (RIIs) 32.86
Employee Reservation 0.57
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