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April 30, 2010 by | No Comments
On the day of expiry of April F&O contracts, Nifty stated off positive and consolidated in the first half but moved higher in the second half to close positive. For the last couple of days, Nifty has been trading in a very narrow range of 5200-5300 with support around its 40 daily moving average (DMA) [...]
April 29, 2010 by | 1 Comment
Edelweiss has recommended subscribers to ‘Subscribe’ to the initial public offering of Satluj Jal Vidyut Nigam at the lower end of the price band. “The IPO has been priced at Rs 23-26, implying 1.4–1.6x trailing P/BV. Based on ~19% RoE on project equity, cash balance of Rs 15 billion and assuming 12% cost of equity [...]
April 29, 2010 by | No Comments
Jaypee Infratech Limited (JIL) is entering in the capital markets with an initial public offering, IPO of six crore equity shares of Rs. 10 for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 102/- at lower level and Rs [...]
April 29, 2010 by | No Comments
Satluj Jal Vidyut Nigam Ltd (SJVNL) is entering in the capital markets with an initial public offering, IPO of 41,08,81,400 Equity Shares of Rs. 10 for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 23/- at lower level and [...]
April 28, 2010 by | No Comments
Nifty ended the day in red in line with other global indices. It has formed a head and shoulders pattern, which a bearish trend reversal pattern. It has closed below its daily averages—again a bearish sign in the short term. The equality target of the fall from 5400 to 5160 comes at 5127 currently. The [...]
April 27, 2010 by | 2 Comments
Nifty has been trading in a very narrow range of 5200-5300 for the last couple of days. On the hourly chart, Nifty is trading in a channel holding on to 20 daily moving average (DMA) and 40DMA pegged at 5289 and 5206 respectively, which is a bullish sign for the market in the short run. [...]
April 27, 2010 by | 2 Comments
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra (M&M) is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company (SMC). According to the Korea Economic Daily, M&M recently sent a letter to the management of SsangYong, expressing its desire of buying controlling rights in the cash-strapped firm. The [...]
April 27, 2010 by | No Comments
Engineers India has fixed 07 May 2010 as the record date for the purpose of subdivision of equity shares of Rs. 10 each of the company into equity shares of Rs. 5 each and bonus issue in the ratio of 2:1.
April 16, 2010 by | No Comments
The key benchmark indices edged lower in volatile trade as an imminent hike in key short-term interest rates by the Reserve Bank of India (RBI) at a policy review next week weighed on investor sentiment. Stocks fell for the fourth straight trading session. In global cues, European stocks turned positive from negative and US index [...]
April 16, 2010 by | No Comments
Securities & Exchange Board of India (Sebi) has tightened disclosure norms for foreign institutional investors (FIIs) and sub-accounts with regard to the investment structure in India. The norms are applicable for new registrations from 7 April 2010. Existing FIIs and sub-accounts can provide the additional information by 30 September 2010. These foreign investors will now [...]
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