20 November 2007

Religare to see bumper listing: Experts

Religare to see bumper listing: Experts


All brokerage stocks are buzzing today ahead of Religare Enterprises' listing and current IPOs like Edelweiss Capital. All brokerage stocks are up around 2-5%.
Religare Enterprises, a financial services company in India offering a wide range of financial products and services, will list on the bourses on November 21, 2007.
Analysts told Moneycontrol.com that the stock is likely to list in the band of Rs 525-600 and advised partial profit booking.

R S Iyer of K R Choksey Securities said, "Religare is expected to list at around Rs 550-600 levels. One can book profits if it crosses Rs 650 on listing day.Investment Advisor, S P Tulsian said, "Religare Enterprises is likely to list at Rs 540 against its issue price of Rs 185 per share. Investors are advised to hold the stock with 3 months view."

The stock is likely to list with premium of Rs 350 plus. Investors, who got shares in allotment, can sell 50% shares around Rs 525 and hold balance shares with short to medium term view, according to Manish Bhatt of Prabhudas Lilladher.

"Keeping in mind the geographical diversification, wide range of products and services offered by the company and the long term growth story in the financial services sector, investors with a long term perspective could hold on for better returns in the long run. However in case of aggressive listing, partial profits can be booked", said Arpit Agrawal – Head of Research, Arihant Capital Markets.

The company had fixed the issue price at Rs 185 per equity share of Rs 10 each (upper end of the price band) for its initial public offering (IPO) of 7,576,102 equity shares for cash, decided through a 100% book building process. The issue was subscribed approximately around 160.56 times. The net proceeds of the issue would be utilized towards expansion of the domestic operations as well as the network of branches of two of its subsidiaries, Religare Securities Limited and Religare Insurance Broking Limited; funding the retail finance business as well as funding the leading business, through investment in its subsidiaries, Religare Finvest Limited and Religare Finance Limited. The book running lead managers to the issue are: Enam Securities Private Limited and Citigroup Global Markets India Private Limited.

Religare Enterprises can give handsome returns: Experts



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Sensex down by 353 pts at close : Sify.Com


Index Last Price Change %Change
Nifty 5780.90 -126.75 -2.15
Sensex 19280.80 -352.56 -1.80

Tracking weak global markets, several blue chip stocks opened on a weak note on the major Indian bourses this morning, and, save for a brief while around noon, never really looked strong enough to break free into the positive zone till the end of the session.

The sharp fall on Wall Street due to sub-prime market woes cast its shadow on the Asian bourses and Indian stocks proved no exception to the trend. Though bank, cement and metal stocks bucked the trend and posted gains, they too succumbed to a severe bout of selling pressure that erupted a little past mid afternoon and dropped down to lower levels.

Midcap and smallcap stocks garnered attention. But then, the intensity of pressure in late afternoon trade was so severe that they too drifted down south as the session drew to a close.
Capital goods, information technology, oil, power, realty, PSU, metal, bank, FMCG and auto stocks were all hammered down by the bears. Healthcare stocks outperformed the market and mirroring this, the BSE Healthcare index ended just marginally down from its previous closing mark.

The Sensex, which opened with a negative gap of around 125 points at 19,510.94 and plunged to a low of 19,196.42 during the final minutes, ended the session with a huge loss of 352.66 points or 1.8% at 19,280.60. The Nifty settled at 5780.90 with a loss of 2.15% or 126.75 points.
Tata Motors (0.75%), Ambuja Cements (0.45%), Hindustan Unilever (0.25%), Bajaj Auto (0.15%) and ACC (up marginally) were the gainers from the Sensex.

Hindalco, which eased by 5.5%, was the biggest loser from the Sensex pack. BHEL closed with a loss of 4.65%. DLF and Maruti Suzuki went down by 4.2% and 4.1% respectively. Infosys Technologies, ONGC, Tata Consultancy Services, Grasim Industries, Mahindra & Mahindra, Reliance Industries and HDFC Bank lost 2% - 3.5%.

NTPC shed nearly 2%. Wipro, Reliance Energy, ICICI Bank, HDFC Bank, ITC, State Bank of India, Satyam Computer Services and Larsen & Toubro closed with sharp losses. Tata Steel, Ranbaxy Laboratories, Reliance Communications, Cipla and Bharti Airtel also ended on a weak note.

Nalco slipped by as much as 7.2%. Sterlite Industries, MTNL, BPCL, Tata Power, Unitech and Sun Pharmaceuticals closed lower by 4% - 6%. Punjab National Bank, Siemens, ABB, Suzlon Energy, HCL Technologies and Zee Entertainment closed with sharp losses. GAIL India, Hero Honda, Hindustan Petroleum Corporation, VSNL and Reliance Petroleum also finished on a weak note. SAIL ended with a marginal gain.

For more: Mkts: Bears hammer down blue chips,


Planet Hollywood enters Indian market
Dues recovery: Reserve Bank warns ICICI
GTL Infra in pact with IDFC
L&T, Raytheon sign MoU
Dewan raises stake in retail firm

IIM-A grads get plum offers
Amazon sells own gadget to boost e-books
JSW acquires land for West Bengal project
Businesses for baby boomers
WWIL gains on FDI hike report

Marico climbs on Egypt plant news
Finance shares up ahead of Religare listing
India's 10 top luxury hotels
UCO Bank, Dena Bank up on SBI merger report
Titan to launch watches in Pak, jewellery in US
Japan Nikkei falls to 16-month low after Wall St



Source: http://www.sify.com
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Corporate/Personailty of the Day

National Stock Exchange of India

The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India and the third largest in the world in terms of volume of transactions[1]. NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities[2]. As of 2006, the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India [3]. In July 2007, the NSE had a total market capitalization of 42,74,509 crore INR making it the second-largest stock market in South Asia in terms of market-capitalization[4].

For more: http://en.wikipedia.org/wiki/National_Stock_Exchange_of_India




Source: http://en.wikipedia.org/wiki/National_Stock_Exchange_of_India
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19 November 2007

About: Goldman Sachs, Lehman Brothers

Goldman Sachs

The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.[1]

For more: http://en.wikipedia.org/wiki/Goldman_Sachs



Lehman Brothers

Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include: Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, and the Crossroads Group. The Firm's worldwide headquarters are in New York City, with regional headquarters in London, and Tokyo and offices throughout the world.


More: http://en.wikipedia.org/wiki/Lehman_Brothers




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ET Headlines

Economic Times Headlines

Indian employees are highest tax payers in Asia: Report
Booming Bollywood providing business opportunities
Carbon trade may prove another IT sector for India: World Bank
Mid-cap scene likely to heat up
ArcelorMittal to hike flat steel prices

NIIT ties up with Oriental Bank of Commerce
Applied Materials to buy Baccini for $330 million
ABB completes sale of Lummus for $950 million
India Cements to raise up to $150 mn
Flickr to map the world's latest photo hotspots

Soros picks 1.4 mn shares in floriculture comp
RTS Power bags Rs 52.67 cr order for transformers & cables
Singapore, Gulf funds eye 5% in Reliance Power
L&T secures Rs 275 cr DMRC order in JV with Shanghai co
Wanted: Housewives for banking, IT, retail jobs

Marks & Spencer, to set up own India shop
Nahar Retail to invest Rs 430 cr in expansion
Airtel changes name of broadband & telephone services unit
Railways planning to tap windmill energy in TN
Global investors turn bearish on India, China funds

Asian Oilfield up 4% on Oil India order
Persistent Systems to tap market to fund expansions
Pre-IPO premiums zoom as punters play hard
Indian blue chips create 3 times more wealth than US firms
IPO watch: Kaushalya Infrastructure, Renaissance Jewellery, Kolte Patil Developers, Jyothy Lab

Unlisted cos will soon have a platform to trade their scrips
Unitech enters Mumbai property mkt, to invest Rs 4,000 cr



We thank/will be grateful to the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Blog is not responsible for any faulty information. Viewers are advised to take own decision in stock buying.

Articles from MoneyControl, Rediff, Myiris.Com

Rediff.com

Sabeer Bhatia on the success of innovation
10 stocks that can earn great returns
Over 50% MFs are underperformers
Unitech: Big plans in Mumbai
Sebi wants IPO norms review
Brokers lure NRIs to stock markets
Deutsche MF files an offer document
UTI MF likely to join hands with Societe Generale

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MoneyControl.com

Nicholas Piramal signs deal with Merck
Karnataka govt falls after 7 days in power
Midcaps are the way to go, feel experts
Do you have these stocks in your portfolio?
Key Indian sectors to slow down within 1 yr: Tata MF

Bag these future outperformers
Pratibha Industries can give 50% return: Shenoy
I-T Dept issues notice to Tata on AT&T-Tata deal
Meghmani Organics sees turnover at Rs 1,000cr within 3 yrs

DLF gets Rs 1675cr PE investment for housing projects
Lanco, GMR Energy Ltd allotted coal blocks
Plethico Pharma acquires US-based Natrol
Suzlon signs new Australian orders
New record for IIM-B, 2009 batch placed in just 4 days

MindTree ranked No 1 Most Admired Knowledge Enterprise
SBI right issue likely to hit mkt by February

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Myiris.Com

Direct tax collections grow over 42.9% Apr.1 - Nov.15
Info Drive inks pact to buy 51% stake in Precision Infomatic
RBI and 974 branches of banks to accept advance Income Tax
Brokers Outlook: Positive momentum expected on Tuesday

Edelweiss Capital IPO subscribed 13.79 times on penultimate day
Balrampur Chini swings to loss for Sep `07 qtr
NAVs of equity diversified funds gain 4.43% during Nov 12-16
JP Morgan to launch India GEM Fund

Maharashtra receives Rs 720 bn worth investment proposals
Pratibha Industries secures contract worth Rs 494.9 mn
Educomp to set up 150 schools
Hinduja Group acquires Saudi Arabia`s Petromin
NALCO to build 1,000 acre aluminium park



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Around the Blogs and sites

Bsensedaily.com

Empee Distilleries IPO Allotment is ready
Indian IPOs Grey Market Premiums on 17-11-07
Religare IPO Listing date is November 21, 2007
Essar Steel Delisting : Buy back price fixed at Rs 48 per share

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http://freestocktips-2007.blogspot.com/

Gujarat Narmada Valley-Multibagger Stock Pick
Company:Gujarat Narmada Valley Fertilisers Company Ltd.Industry:Fertilisers - Nitrogenous/Phosphate
Recommendation:Outperformer
Investment Horizon:Long term.

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Equitybulls.Com

Open Offer for DCM Shriram Industries Ltd at Rs 70
Prakash Industries allotted coal block in Chhattisgarh
Mukta Arts closes deal with Eros Multimedia
Bank of Baroda, Andhra Bank &" Legal & General Group plc, UK" sings MOU for Life Insurance Business JV
Essar Oil to increase Vadinar Refinery capacity to 34 million tonnes

Jindal Photo to get Coal Mines in Orissa
Religare Enterprises Ltd to list on November 21, 2007

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VC Updates from VCCircle.Com, Indiape.Com

Vccircle.Com

DLF Raises $424 Million From Merrill Lynch, Brahma Investments
WPP Digital Announces Acquisition Of 75% In Quasar
US Private Equity Firm Buys 5% In Central Securities Depository Ltd

Dubai-based Baer Capital Plans $500M-Infra And Real Estate Fund
Acme Tele Raises $150-200 Million In Pre-IPO Placement From Capital, Bhartia
ICICI Venture May Invest $800 Million in Jaypee Infratech

VC Circle Forum On Nov 30 In Bangalore; Registration Closed
Foreign Law Firms May Come In Phases
Karvy Raises Rs 500 Cr From ICICI Venture, Baring Asia; Valued Between Rs 1,800-Rs 2,400 Cr

ICICI Venture Reportedly Looking At Shalimar Paints
UTI Ventures Invests Rs 32 Crore In Waste Management Firm PESCO BEAM


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IndiaPe.com

Merrill Lynch bought stake in seven real estate projects
Gitanjali buys US-based Rogers for $18.5 mn
WPP Digital acquires 75% stake of Quasar

Argonaut to invest Rs 30 cr in Vallabhdas Kanji
Capital Partners to pick up stake in Acme Telepower
ICICI arm plans Jaypee stake buy

Plethico Pharma to acquire Natrol
PEs queue up to check into hospitality sector
Singapore, Gulf funds eye 5% in Reliance Power

SAIF Partners may invest Rs 100 cr in Anupam Group
Knight Frank to launch $250 million India-focused real estate fund
Baer Capital Plans $500 Million Fund for India

Carlsberg buys 60% of Parag
PEs set to bring in $48 billion by 2010
GTL acquires Malaysia network firm for $25 mn



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Sensex loses 65 pts at close : Sify.Com


Index Last Price Change %Change
Nifty 5907.65 0.80 0.01
Sensex 19633.36 -65.00 -0.33

After a buoyant start this morning, the Sensex pared its gains and moved in a tight band till a little past mid-afternoon as participants appeared highly reluctant to hold positions at higher levels. And then, during the final hour of trade, a few blue chips stocks, including some heavyweights, drifted to lower levels and pushed the barometer down to a negative close.
Lack of triggers and weak Asian and European markets rendered price movements extremely sluggish in afternoon trades today.

The Sensex, which looked well poised to breach the 20,000 mark again as it spurted to 19,971.44 after opening with a positive gap of nearly 200 points, ended the session with a loss of 65 points or 0.33% at 19,633.36. The Nifty ended with a slender gain of 0.80 points at 5907.65. In intra-day trades today, it touched a high of 5981.80 and a low of 5893.80.

Among the sectoral indices, the Consumer Durables index moved up by 3.04%. The Auto and Realty indices ended stronger by 2.45% and 2.15% respectively. The Healthcare index surged 1.66% and the Power index climbed up 1.33%. BSE Metal closed nearly a per cent up while the Capital Goods index ended 0.79% up.

ITC, the most prominent loser from the Sensex today, closed lower by 3.1%. ICICI Bank, HDFC Bank and State Bank of India, the banking sector heavyweights, lost 2.65%, 1.85% and 0.85% respectively.

Satyam Computer Services eased by 1.35%. Heavyweight stock Reliance Industries slipped by 0.8%. Bharti Airtel lost a little over half a per cent. Infosys Technologies, HDFC, Wipro, Larsen & Toubro and BHEL closed with marginal losses.

Nirma zoomed 27.5% to Rs 211.50. Apollo Tyres gained nearly 20%. Essel Propack vaulted 16.4%. Vijaya Bank, Dabur India, Escorts, Jaiprakash Associates, Birla Corporation, TVS Motor, Exide Industries, Alok Industries and FDC moved up by 11% - 14% today.

For more details, Visit: Sensex loses 65 pts at close

Investment banks top recruiters at IIMA
Chemplast's zero liquid discharge project
Reliance fund: A healthy mix of returns, risk
L&T’s JV bags $70 m order
Gitanjali Gems buys Rogers

SBI to launch gold ETF in 2008
DLF to invest Rs 4,000 cr for building conventional centre
Essar Oil advances on refinery plan, GDS
Suzlon Energy gets two orders in Australia
Franklin Templeton picks stake in Gremach Infra

More articles from www.sify.com/finance



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