India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Thursday, July 08, 2010
Hindustan Media Ventures IPO ends with 5.43 times subscription
Gets bids for 7.5 crore shares
The initial public offer (IPO) of Hindustan Media Ventures (HMVL), the publisher of Hindi daily Hindustan, was subscribed 5.43 times. The IPO got bids for 7.50 crore shares compared with 1.38 crore shares on offer.
Bank, IT stocks lead 1% Sensex surge
The key benchmark indices surged as a hike in 2010 global growth forecast from the International Monetary Fund, firm global stocks and stock market regulator Securities & Exchange Board of India (Sebi)'s decision to reduce exposure margins for stock derivatives, boosted investor sentiments. Expectations of strong Q1 June 2010 corporate earnings also contributed to the rally.
Gap-up start likely on strong global cues
Headlines for the day:
RBI moves Finmin to secure autonomy
Network18 recasts business into two listed companies
International Finance Corporation to invest Rs70 crore in Vicat Sagar
Grey Market Premiums - Hindustan Media Ventures
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 118 | 7 to 7.50 |
| Technofab Engineering | 240 | 28 to 29 |
| | 162 to 175 | Discount |
Market may surge at open on firm global stocks
The market may surge on firm global stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 67.50 points at the opening bell. The government will unveil data on some wholesale price indices for the year through 26 June 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today.
Daily News Roundup - July 8 2010
IDFC to raise Rs8.4bn through the sale of convertible securities to Khazanah, investment holding arm of Malaysian government and Actis. (ET)
Reliance Infra to buy power from three suppliers for the next three years. ((ET)
Maindra Satyam sets up centre for BASF services in Chennai. (ET)
NMDC in talks to buy coal mines in Russia. (ET)
Kingfisher Airlines has agreed to pay all its dues to HPCL by July 31
Gitanjali Gems enters into real estate business. (BS)
Media companies such as PVR, Balaji Telefilms and UTV Motions have opposed tax on copyright services. (BS)
PTC arm, PTC Financial Services Ltd (PFS) to list by November. (DNA)
Reliance Mediaworks has raised its stake in Fame. (DNA)
Ruchi Soya plans to acquire 150,000 hectares of land for palm plantation in Africa and Asia. (BS)
SCI not to bid for JNPT fourth container terminal. (DNA)
Karuturi Global to invest US$100mn in its new sugar unit in Ethiopia. (DNA)
Coal India may tap capital markets via IPO in October. (ET)
Sebi relaxes exposure margin norms for derivatives. (BS)
Government mulls restrictions on hot-rolled coil imports. (BS)
The RBI has urged FM to allow the Securities and Insurance Laws ordinance 2010 to lapse since it could affect the autonomy of all regulators including the Central Bank. (BS)
Tea prices to firm up on low output. (BS)
RBI board may discuss private banking license today. (BS)
Telecom Commission has failed to take a decision on BSNL listing in its meet on Wednesday. (ET)
Government may raise FDI in defence sector. (ET)
FICCI demanded that the MAT rate to be cut to 15% of the book profit in the Direct Tax Code. (ET)
Slippery street…Nifty ends below 5,250
Indian stocks slipped on Wednesday, erasing some of the previous session's gains, as equities worldwide turned lower after a weaker than expected service sector report in the US reinforced a growing view that the global recovery is in danger of losing momentum.
No stress for bulls
Good tests kill flawed theories; we remain alive to guess again. Karl Popper.
Guessing is really less required to predict today’s trading outlook. Unlike the weather in Mumbai, the prospects look bright and beautiful today in the wake of one of the biggest global rallies in recent memory. Risk appetite seems to have returned overnight, perhaps temporarily as equities and commodities raced across the globe.
Subscribe to:
Posts (Atom)