| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) | Kostak (Rs. 2 Lac Application) |
| Sudar Garments | 72 to 77 | 3.50 to 4 | 1000 to 1050 | 2100 to 2200 |
| Acropetal Technologies | 88 to 90 | 5 to 5.50 | 1150 to 1200 | 2300 to 2400 |
| Fineotex Chemical | 60 to 72 | 3 to 3.50 | -- | -- |
| SBI (Bond Issue) | Rs. 10,000 to 5 Lac | -- | 3000 to 3100 | 6000 to 6200 |
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Wednesday, February 23, 2011
Grey Market Premiums - SBI Bond Issue, Acropetal Technologies, Sudar Garments
Negative global cues to drag markets at start
Market sentiments are still shaky due to political turmoil leading global markets to fall. Owing to this, domestic indices are expected to start trade on a weak note
Headlines for the day:
World Bank pegs India growth at 8.5-9%
RIL may have to pay up to 30% tax on $7.2-bn BP deal
Sun Pharma to acquire Caraco's remaining stake
Precious metals continue to shine
Geo political tensions increase their appeal
Precious metals ended substantially higher on Tuesday, 22 February 2011 at Comex. Silver struck a new thirty-two year high. Both metals rallied as geo political tensions specially in the Middle East rocked the world. The same increased the appeal of precious metals as an alternate investment. Financial markets, including the New York Mercantile Exchange, were closed in observance of Presidents Day on Monday.
Market seen opening subdued on weak global cues
The market is likely to open lower tracking nervousness in world markets caused by continued political turmoil in Libya. US stocks declined sharply on Tuesday, 22 February 2011. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 27.50 points at the opening bell. Crude oil prices surged to the highest in more than two years in London on concern the Libyan turmoil may disrupt supplies. The near term market trend will be dictated by the expectations and announcements made in the Railway Budget and Union Budget 2011-12 scheduled on 25 and 28 February 2011, respectively.
Daily News Roundup - Feb 23 2011
L&T is in talks to supply nuclear equipment to Electricite de France. (ET)
Coal India has placed an order for two giant (91.7 tonne payload each) electric mining shovels with 17-year maintenance and repair contract worth Rs5.9bn to the US-based P&H Mining Equipment Inc. (BL)
Sensex succumbs to global sell-off
The Indian markets ended in the negative terrain, tracking weak cues from the international equity markets as the political turmoil in the Middle East continued to worsen, sending oil prices sharply higher. Also, Japanese shares fell after Moody’s cuts its outlook to negative from stable. Sentiment is also edgy ahead of the F&O expiry on Thursday and the Union Budget on Feb. 28.
Worried Wednesday in store
Nothing will ever be attempted, if all possible objections must be first overcome. -Samuel Johnson.
With risk appetite on the wane, investors are not really attempting to take any chances. Flight-to-safety seems to be the order of the day but the political strife in West Asia does not really make any place safe. Even as the pro-democracy wave rages, investors are now wondering what next after Libya?
Tuesday, February 22, 2011
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