IPOs: India 5th largest market
Rediff India
Indian bourses saw over $8 billion worth of initial public offers in 2007, but this is just a shade higher than the world's single-largest IPO that was brought by a Russian company, latest data show.
The worldwide IPO activity raised a record capital of $255 billion till November in 2007, including $8.3 billion on Indian bourses, according to data compiled by international consultancy firm Ernst and Young.
India was the fifth largest market in terms of number of IPOs and seventh largest in terms of the proceeds for the year, E&Y said.
There were 95 IPOs in the first 11 months, while the preliminary data for the month of December shows that the total number for the year would be more than 100, it noted. China came tops with total IPO proceeds of $54.4 billion through 222 issues.
Globally, there were as many as 1,739 IPOs between January and November, while another 91 public issues are estimated to have hit the capital markets during December. The largest IPO of the year came from Russia's VTB Bank, which alone raised $8 billion.
In India, the largest IPO of the year was brought by realty giant DLF which raised about Rs 9,187.50 crore (more than $2 billion).
E&Y said the strength of India's economy, stock market, corporate profits and private equity fuelled IPOs in 2007. In the previous year, the market had seen 78 IPOs raising $7.23 billion.
The study said 14 of the top 20 IPOs were from emerging BRIC markets and the surge in Indian IPO activity was a clear reflection of the growth in the Indian economy and the investor's confidence.
Together, the four BRIC countries -- Brazil, Russia, India and China -- have raised $106.5 billion in 382 deals so far this year compared to $89.6 billion raised in 302 deals in the same period of 2006.
Asia-Pacific accounted for 46 per cent of the worldwide IPO league, ahead of Europe, the Middle East, and Africa (EMEA) which together accounted for 35 per cent and North America with 14 per cent.
EMEA and Asia-Pacific have the greatest market share of capital raised with 38 per cent and 32 per cent, respectively, eclipsing North America (16 per cent) and Central and South America (14 per cent).
Despite accounting for only 4 per cent of the total number of IPOs so far this year, HKSE was the leading exchange by capital raised, attracting a 13 per cent market share, mainly due to having some of the year's largest listings, including China CITIC Bank and China Railway.
NYSE was ranked second in terms of capital raised (11 per cent), attracting 3.6 per cent of total listings driven by a number of large US deals, including Blackstone Group and MF Global.
Although only 2 per cent of IPOs through November listed on LSE, it attracted 10 per cent of the capital raised, mainly through a few large Russian deals, including VTB Bank and Pik Group.
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26 December 2007
Biz Newsmakers 2007 : Rediff India
Biz Newsmakers 2007
The year India Inc made it big.
Fantastic is the only way one could describe what 2007 has been like for Ratan Naval Tata, the chairman of Tata Group.
He led India's largest corporate house to the nation's biggest overseas acquisition on January 31, when Tata Steel -- after a long drawn battle -- pipped Brazil's CSN to acquire Anglo-Dutch steelmaker Corus for $13.2 billion. The merger created the fifth largest steel producing entity in the world.
Tata's brainchild, the Rs 1 lakh People's Car (which will be unveiled in New Delhi on January 10, 2008), was one of the most hotly discussed and debated issues of 2007. And while the Tatas get ready to launch the car in the Indian markets, the company has gone ahead and bid $2.05 billion to buy out British marquees Jaguar and Land Rover from Ford. Reports indicate that the Tatas have emerged as the preferred bidder for the two iconic brands of Ford Motors.
Also, during 2007, Tata firm Indian Hotels bought the Ritz-Carlton, Boston, while Tata Coffee acquired the US coffee chain Eight O'Clock.
The Tata Group was also named the world's third most accountable and transparent company in 2007 by Britain's One World Trust. Tata beat Coca-Cola, HSBC, PriceWaterCooopers and Google, when measured on the parameters of transparency and accountable leadership among global companies.
The annual Global Accountability Report also considered Tata Group at number 10, among the world's 30 most powerful organisations from the inter-governmental, non-governmental and corporate sector, to be accountable to civil society, affected communities and wider public.
More on this story @ Biz Newsmakers 2007
Have you checked out our Year-end Specials?
Source: www.rediff.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
The year India Inc made it big.
Fantastic is the only way one could describe what 2007 has been like for Ratan Naval Tata, the chairman of Tata Group.
He led India's largest corporate house to the nation's biggest overseas acquisition on January 31, when Tata Steel -- after a long drawn battle -- pipped Brazil's CSN to acquire Anglo-Dutch steelmaker Corus for $13.2 billion. The merger created the fifth largest steel producing entity in the world.
Tata's brainchild, the Rs 1 lakh People's Car (which will be unveiled in New Delhi on January 10, 2008), was one of the most hotly discussed and debated issues of 2007. And while the Tatas get ready to launch the car in the Indian markets, the company has gone ahead and bid $2.05 billion to buy out British marquees Jaguar and Land Rover from Ford. Reports indicate that the Tatas have emerged as the preferred bidder for the two iconic brands of Ford Motors.
Also, during 2007, Tata firm Indian Hotels bought the Ritz-Carlton, Boston, while Tata Coffee acquired the US coffee chain Eight O'Clock.
The Tata Group was also named the world's third most accountable and transparent company in 2007 by Britain's One World Trust. Tata beat Coca-Cola, HSBC, PriceWaterCooopers and Google, when measured on the parameters of transparency and accountable leadership among global companies.
The annual Global Accountability Report also considered Tata Group at number 10, among the world's 30 most powerful organisations from the inter-governmental, non-governmental and corporate sector, to be accountable to civil society, affected communities and wider public.
More on this story @ Biz Newsmakers 2007
Have you checked out our Year-end Specials?
Source: www.rediff.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
VC, PE updates from VCCircle.com, Indiape.com
VCCircle.com
Warburg Pincus Buying Up Shares In Amtek India; UTI Ventures Sells In Moschip
Delhi’s IT Peripheral And Electronics Firm Intex Plans IPO Or Private Equity Placement
US-Based Venus Capital Plans India-Focused PE, Real Estate Products
GBN Gets Government Nod To Induct 26% FDI Worth Rs 500 Crore
Government Set To Simplify M&As; To Bypass High Courts For Merger Approval
State Bank of Mauritius Interested In A Stake In Centrum Capital
M&A Roundup: Wipro-Capgemini; LT Overseas Buys US Rice Firm; Guj NRE Coke Buys Aussie Mine
Info Edge To Raise Upto Rs 500 Crore; Raises FII Limit To 40%
Orient Global Invests $241 Million In India Infoline And Insurance Subsidiary
“Hotels Offer Higher Margins, While Airline Is Commoditised”
Retail M&A: Bharti Eyeing Big Apple; Pantaloon Buys Stake In MyDollarStore
Citigroup Venture Capital Plans To Flip Some Stake In Sharekhan
QVC Realty To Invest $200M In New, Existing Real Estate Projects
-----------------------------------------------------------------
IndiaPE.com
Foreign funds acquire 7.5% in India Cements for Rs 592 cr
IDFC IDFC PE invested Rs. 260 Cr in Goodearth Maritime
Arab funds vie for India investment
Nashik Co-operative Bank acquired by Saraswat Bank
Japan's ITOH acquires 5% in Jayant Ago
Temasek leads 'PE'cking order
State Bank of Mauritius eyes stake in Centrum Capital
Funds to pick upto 15% stake in Dunlop
Orient Global to pick up 6.48% in India Infolline
Domestic M&A on the decline: Study
Future Capital picks up 28% in Sankalp Stores
Reliance Entertainment to sell 5%, eyes movie business
Reliance Capital's subsidiary invests in US firm Stoke Inc
Merrill May Buy Stake in India's Sharekhan
PE firms line up to buy teams in Indian Premier League
Source: http://www.vccircle.com and www.indiape.com 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Warburg Pincus Buying Up Shares In Amtek India; UTI Ventures Sells In Moschip
Delhi’s IT Peripheral And Electronics Firm Intex Plans IPO Or Private Equity Placement
US-Based Venus Capital Plans India-Focused PE, Real Estate Products
GBN Gets Government Nod To Induct 26% FDI Worth Rs 500 Crore
Government Set To Simplify M&As; To Bypass High Courts For Merger Approval
State Bank of Mauritius Interested In A Stake In Centrum Capital
M&A Roundup: Wipro-Capgemini; LT Overseas Buys US Rice Firm; Guj NRE Coke Buys Aussie Mine
Info Edge To Raise Upto Rs 500 Crore; Raises FII Limit To 40%
Orient Global Invests $241 Million In India Infoline And Insurance Subsidiary
“Hotels Offer Higher Margins, While Airline Is Commoditised”
Retail M&A: Bharti Eyeing Big Apple; Pantaloon Buys Stake In MyDollarStore
Citigroup Venture Capital Plans To Flip Some Stake In Sharekhan
QVC Realty To Invest $200M In New, Existing Real Estate Projects
-----------------------------------------------------------------
IndiaPE.com
Foreign funds acquire 7.5% in India Cements for Rs 592 cr
IDFC IDFC PE invested Rs. 260 Cr in Goodearth Maritime
Arab funds vie for India investment
Nashik Co-operative Bank acquired by Saraswat Bank
Japan's ITOH acquires 5% in Jayant Ago
Temasek leads 'PE'cking order
State Bank of Mauritius eyes stake in Centrum Capital
Funds to pick upto 15% stake in Dunlop
Orient Global to pick up 6.48% in India Infolline
Domestic M&A on the decline: Study
Future Capital picks up 28% in Sankalp Stores
Reliance Entertainment to sell 5%, eyes movie business
Reliance Capital's subsidiary invests in US firm Stoke Inc
Merrill May Buy Stake in India's Sharekhan
PE firms line up to buy teams in Indian Premier League
Source: http://www.vccircle.com and www.indiape.com 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Labels:
Indiape.Com,
PE updates from VCCircle.com,
VC
Deadpresident Blog Updates
http://www.deadpresident.blogspot.com
Post Market Commentary
Bulk Deal Watch
Novartis
Sensex moves above 20000
Market Close : Party mood continues...!
Indiainfoline
Post Session Market Commentary
Sensex garners 338 points
Sensex ends on bullish note
Daily Trading Calls
Grey Market Premium - Transformers, Brigade, BGR
Daily Technical Futures - Dec 26 2007
Morning Notes, Cinemax
Bullish trend may continue
Trading Calls
MIC Electronics
Transformers and Rectifiers IPO Allotment
Source: http://www.deadpresident.blogspot.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Post Market Commentary
Bulk Deal Watch
Novartis
Sensex moves above 20000
Market Close : Party mood continues...!
Indiainfoline
Post Session Market Commentary
Sensex garners 338 points
Sensex ends on bullish note
Daily Trading Calls
Grey Market Premium - Transformers, Brigade, BGR
Daily Technical Futures - Dec 26 2007
Morning Notes, Cinemax
Bullish trend may continue
Trading Calls
MIC Electronics
Transformers and Rectifiers IPO Allotment
Source: http://www.deadpresident.blogspot.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
America's best big companies : Sify Finance
America's best big companies
Article sources : From Forbes.com thro Sify.com
This is our 10th year of selecting the 400 Best Big Companies in America. Our methodology for choosing the winners is so stringent that 165 companies from last year's 400 did not make the cut for 2008. Not only must companies pass our benchmarks for financial growth rates and returns, they must also meet our approval for their corporate governance, accounting standards and background checks.
In Pictures: America’s Hot Companies
Editor's Choice
In Pictures: Fast-Cash Companies
In Pictures: Companies with Soaring Sales
In Pictures: America's 25 Largest Private Companies
In Pictures: Highest-Performing Global Companies
In Pictures: World’s Most Reputable Companies
As a group, our latest roster of Platinum 400 companies looks more like fast-growing upstarts than established, big, corporations. The median company on the list shows 16% sales growth and 28% earnings-per-share growth over the latest 12 months. As an investment, the median Platinum company on this year's list has a 12-month gain of 15%, versus 6% for the S&P 500 index.
We assign each Platinum 400 company to one of 26 industries; from each industry, our writers and editors then select a top-tier corporation as the best-managed company in that industry. In making their selections, our editorial staff considers not only our initial financial and quality screens, but also subjective factors such as management ability, innovation and leadership. From these 26 companies, our staff also picks the Forbes Company of the Year.
Our editors' choice for the company of the year: Nvidia. Co-founded by CEO Jen-Hsun Huang in 1993, the chip maker has gone on to regain the lead in the lucrative market for graphic processors aimed at hardcore gamers. Its annualized five-year results are impressive, too: sales growth of 15%, earnings per share of 36%. Over the same period, Nvidia shareholders profited from a 42% annualized total return. Nvidia is now racing to develop its next generation of chips as it faces new challenges fromIntel and Advanced Micro Devices.
What about the other 25 industries? In chemicals, we cite Mosaic as the best-managed of the group. The $6 billion (revenues) Minneapolis fertilizer manufacturer was forbed by the 2004 combination of IMC Global and the Crop Nutrition division of Cargill, a private company.
Mosaic took restructuring charges in May 2006 related to closing its higher-cost phosphate operations, and this write-off led to a loss for fiscal 2006. The restructuring--and higher fertilizer prices--helped Mosaic deliver profits of $616 million on revenue of $6.5 billion in the last 12 months. In its most recent quarter, through August 2007, Mosaic pre-paid $700 million in long-term debt; debt-to-capital now stands at 24%, versus 34% in the prior August quarter.
Our best-managed choice in food, drink & tobacco is PepsiCo.Chief Executive Indra Nooyi is looking abroad to growing economies such as China, India and Russia. Another PepsiCo focus is on healthier initiatives for its beverages and snacks, such as developing a low-calorie Gatorade, cutting trans fats, and selling chips that are baked instead of fried, plus Flat Earth, a line of fruit and vegetable crisps.
PepsiCo is a member of our platinum honor roll, a select list of 21 companies that have appeared on the Platinum 400 in each of the past 10 years. Another feature highlights the 10 out of 165 newcomers that have produced the best annual total return over the past five years.
Our comeback companies report acknowledges some of the corporations that have returned to the Platinum 400 after an absence of one or more years. Among them are AAR and Arrow Electronics, both of which are making their first appearance on the list since 1999.
Finally, we look at stock market returns for the 2007 Platinum 400. Over the past 12 months, last year's list of the 400 Best Big Companies in America has a 4% median price gain, two percentage points below the performance of the S&P 500. Our narrower selections of best-managed companies--one from each of 26 industries--fares much better, with a 19% median increase.
In Pictures: America’s Hot Companies
We cannot claim our current list of 400 companies will top the performance of Wall Street indexes over the next 12 months, but our list can be a useful starting point for selecting individual stocks. After all, they have already passed our strict standards to be named among the Best Big Companies in America.
Source: http://www.sify.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Article sources : From Forbes.com thro Sify.com
This is our 10th year of selecting the 400 Best Big Companies in America. Our methodology for choosing the winners is so stringent that 165 companies from last year's 400 did not make the cut for 2008. Not only must companies pass our benchmarks for financial growth rates and returns, they must also meet our approval for their corporate governance, accounting standards and background checks.
In Pictures: America’s Hot Companies
Editor's Choice
In Pictures: Fast-Cash Companies
In Pictures: Companies with Soaring Sales
In Pictures: America's 25 Largest Private Companies
In Pictures: Highest-Performing Global Companies
In Pictures: World’s Most Reputable Companies
As a group, our latest roster of Platinum 400 companies looks more like fast-growing upstarts than established, big, corporations. The median company on the list shows 16% sales growth and 28% earnings-per-share growth over the latest 12 months. As an investment, the median Platinum company on this year's list has a 12-month gain of 15%, versus 6% for the S&P 500 index.
We assign each Platinum 400 company to one of 26 industries; from each industry, our writers and editors then select a top-tier corporation as the best-managed company in that industry. In making their selections, our editorial staff considers not only our initial financial and quality screens, but also subjective factors such as management ability, innovation and leadership. From these 26 companies, our staff also picks the Forbes Company of the Year.
Our editors' choice for the company of the year: Nvidia. Co-founded by CEO Jen-Hsun Huang in 1993, the chip maker has gone on to regain the lead in the lucrative market for graphic processors aimed at hardcore gamers. Its annualized five-year results are impressive, too: sales growth of 15%, earnings per share of 36%. Over the same period, Nvidia shareholders profited from a 42% annualized total return. Nvidia is now racing to develop its next generation of chips as it faces new challenges fromIntel and Advanced Micro Devices.
What about the other 25 industries? In chemicals, we cite Mosaic as the best-managed of the group. The $6 billion (revenues) Minneapolis fertilizer manufacturer was forbed by the 2004 combination of IMC Global and the Crop Nutrition division of Cargill, a private company.
Mosaic took restructuring charges in May 2006 related to closing its higher-cost phosphate operations, and this write-off led to a loss for fiscal 2006. The restructuring--and higher fertilizer prices--helped Mosaic deliver profits of $616 million on revenue of $6.5 billion in the last 12 months. In its most recent quarter, through August 2007, Mosaic pre-paid $700 million in long-term debt; debt-to-capital now stands at 24%, versus 34% in the prior August quarter.
Our best-managed choice in food, drink & tobacco is PepsiCo.Chief Executive Indra Nooyi is looking abroad to growing economies such as China, India and Russia. Another PepsiCo focus is on healthier initiatives for its beverages and snacks, such as developing a low-calorie Gatorade, cutting trans fats, and selling chips that are baked instead of fried, plus Flat Earth, a line of fruit and vegetable crisps.
PepsiCo is a member of our platinum honor roll, a select list of 21 companies that have appeared on the Platinum 400 in each of the past 10 years. Another feature highlights the 10 out of 165 newcomers that have produced the best annual total return over the past five years.
Our comeback companies report acknowledges some of the corporations that have returned to the Platinum 400 after an absence of one or more years. Among them are AAR and Arrow Electronics, both of which are making their first appearance on the list since 1999.
Finally, we look at stock market returns for the 2007 Platinum 400. Over the past 12 months, last year's list of the 400 Best Big Companies in America has a 4% median price gain, two percentage points below the performance of the S&P 500. Our narrower selections of best-managed companies--one from each of 26 industries--fares much better, with a 19% median increase.
In Pictures: America’s Hot Companies
We cannot claim our current list of 400 companies will top the performance of Wall Street indexes over the next 12 months, but our list can be a useful starting point for selecting individual stocks. After all, they have already passed our strict standards to be named among the Best Big Companies in America.
Source: http://www.sify.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Sensex zooms 338 pts at close : Sify Finance
Sensex zooms 338 pts at close
Sensex rises 338 points on funds buying
Sensex closes above 20000
The bulls, aided by strong global markets and the decision of the government to allow trusts to invest in equities, stamped their supremacy in style once more and lifted stock prices up sharply in today's trade. Some stock specific stories and short-covering ahead of December series derivatives expiry also contributed to the surge in values today.
The gains posted by the benchmark indices Sensex and Nifty today were not as sharp as the ones recorded by them in the previous trading session, but were highly impressive, nevertheless.
While the Sensex, which touched a high of 20,211.47 in intra-day trades, ended with a handsome gain of 338.40 points or 1.7% at 20,192.52, the Nifty settled at 6070.75, up 1.43% or 85.65 points over its previous closing mark.
Information technology stocks, which opened on a weak note and were seen struggling till a little past mid afternoon, managed to recover lost ground thanks to strong buying during the final hour of trade. Oil, metal, capital goods, bank, power and realty stocks had a fine day. Automobile stocks pared some of their gains but still ended the day on a firm note. Buying remained selective in FMCG and healthcare sectors.
Besides large cap stocks, a number of stocks from midcap and smallcap segments too moved up sharply today. Mirroring investor interest for these stocks, the Midcap and Smallcap indices climbed up 2.05% and 3.02% respectively.
As the mood remained upbeat, only a few stocks, Bajaj Auto (down 1.1%), Tata Consultancy Services (down 0.95%), ONGC (down 0.9%), Hindustan Unilever (down 0.35%) and HDFC (down 0.25%) among the Sensex components failed to end on a positive note today.
Index heavyweight Reliance Industries (up 3.9%) moved up sharply and contributed significantly to the rise of the indices today. Realty stock DLF (up 4.35% to Rs 1013.95) was the biggest gainer from the Sensex pack. Metal stocks Hindalco and Tata Steel gained 4.2% and 3.55% respectively.
Tata Motors rallied 3.35% to Rs 752.10. State Bank of India gained nearly 3%. BHEL (2.65%), Reliance Energy (2.6%), Larsen & Toubro (2.6%), Reliance Communications (2.5%), Grasim Industries (2.1%), Cipla (1.55%), NTPC (1.35%), Bharti Airtel (1.3%), Mahindra & Mahindra (1.25%) and Satyam Computer Services (1.05%) also ended on a high note.
ICICI Bank closed nearly a per cent up at Rs 1219.40. ITC, Ambuja Cements, Ranbaxy Laboratories, Maruti Suzuki, HDFC Bank and ACC ended with modest gains. IT bellwether Infosys Technologies edged up marginally. Wipro closed with a small gain.
Nifty stock BPCL gained nearly 5%. Zee Entertainment, Cairn India and Reliance Petroleum moved up by 4.65%, 3.65% and 3.4% respectively. ABB, Sterlite Industries, GAIL India, Tata Power and Siemens gained 1% - 3%. GlaxoSmithKline Pharma, Unitech, Punjab National Bank, SAIL and Idea Cellular also ended with notable gains.
Sun Pharmaceuticals, Nalco, Suzlon Energy and HCL Technologies posted sharp losses.
Though the market ended with handsome gains, volume of business remained thin once again. The National Stock Exchange recorded a turnover of Rs 15, 693.10 crore today. The market breadth remained strong. Out of 2945 stocks traded on BSE today, as many as 2283 stocks closed on a winning note. 639 stocks finished lower and 23 stocks ended at their previous closing levels.
More Stories:
Zuari Ind unit buys realty firm
L&T gets orders worth $190 m
Alpa Labs in deal with Wockhardt
IPOs raise $8.3 billion from Indian bourses
Spectrum allocation as per TRAI formula
Deep Ind bags Rs 30 cr order from Gujarat State Petronet
Sujana Towers has a Rs 250 cr growth plan
Carazoo.com notches up over 3.8 m page views in 3 months
Google's got your number
'India's energy sector needs $150 b investment'
XL Telecom to set up solar farms in Spain
America's best big companies
Forbes gurus: Best investment ideas for 2008
Kalindee Rail surges on new orders
SBI to absorb 6 associates by Mar '09
Source: http://www.sify.com/finance. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Sensex rises 338 points on funds buying
Sensex closes above 20000
The bulls, aided by strong global markets and the decision of the government to allow trusts to invest in equities, stamped their supremacy in style once more and lifted stock prices up sharply in today's trade. Some stock specific stories and short-covering ahead of December series derivatives expiry also contributed to the surge in values today.
The gains posted by the benchmark indices Sensex and Nifty today were not as sharp as the ones recorded by them in the previous trading session, but were highly impressive, nevertheless.
While the Sensex, which touched a high of 20,211.47 in intra-day trades, ended with a handsome gain of 338.40 points or 1.7% at 20,192.52, the Nifty settled at 6070.75, up 1.43% or 85.65 points over its previous closing mark.
Information technology stocks, which opened on a weak note and were seen struggling till a little past mid afternoon, managed to recover lost ground thanks to strong buying during the final hour of trade. Oil, metal, capital goods, bank, power and realty stocks had a fine day. Automobile stocks pared some of their gains but still ended the day on a firm note. Buying remained selective in FMCG and healthcare sectors.
Besides large cap stocks, a number of stocks from midcap and smallcap segments too moved up sharply today. Mirroring investor interest for these stocks, the Midcap and Smallcap indices climbed up 2.05% and 3.02% respectively.
As the mood remained upbeat, only a few stocks, Bajaj Auto (down 1.1%), Tata Consultancy Services (down 0.95%), ONGC (down 0.9%), Hindustan Unilever (down 0.35%) and HDFC (down 0.25%) among the Sensex components failed to end on a positive note today.
Index heavyweight Reliance Industries (up 3.9%) moved up sharply and contributed significantly to the rise of the indices today. Realty stock DLF (up 4.35% to Rs 1013.95) was the biggest gainer from the Sensex pack. Metal stocks Hindalco and Tata Steel gained 4.2% and 3.55% respectively.
Tata Motors rallied 3.35% to Rs 752.10. State Bank of India gained nearly 3%. BHEL (2.65%), Reliance Energy (2.6%), Larsen & Toubro (2.6%), Reliance Communications (2.5%), Grasim Industries (2.1%), Cipla (1.55%), NTPC (1.35%), Bharti Airtel (1.3%), Mahindra & Mahindra (1.25%) and Satyam Computer Services (1.05%) also ended on a high note.
ICICI Bank closed nearly a per cent up at Rs 1219.40. ITC, Ambuja Cements, Ranbaxy Laboratories, Maruti Suzuki, HDFC Bank and ACC ended with modest gains. IT bellwether Infosys Technologies edged up marginally. Wipro closed with a small gain.
Nifty stock BPCL gained nearly 5%. Zee Entertainment, Cairn India and Reliance Petroleum moved up by 4.65%, 3.65% and 3.4% respectively. ABB, Sterlite Industries, GAIL India, Tata Power and Siemens gained 1% - 3%. GlaxoSmithKline Pharma, Unitech, Punjab National Bank, SAIL and Idea Cellular also ended with notable gains.
Sun Pharmaceuticals, Nalco, Suzlon Energy and HCL Technologies posted sharp losses.
Though the market ended with handsome gains, volume of business remained thin once again. The National Stock Exchange recorded a turnover of Rs 15, 693.10 crore today. The market breadth remained strong. Out of 2945 stocks traded on BSE today, as many as 2283 stocks closed on a winning note. 639 stocks finished lower and 23 stocks ended at their previous closing levels.
More Stories:
Zuari Ind unit buys realty firm
L&T gets orders worth $190 m
Alpa Labs in deal with Wockhardt
IPOs raise $8.3 billion from Indian bourses
Spectrum allocation as per TRAI formula
Deep Ind bags Rs 30 cr order from Gujarat State Petronet
Sujana Towers has a Rs 250 cr growth plan
Carazoo.com notches up over 3.8 m page views in 3 months
Google's got your number
'India's energy sector needs $150 b investment'
XL Telecom to set up solar farms in Spain
America's best big companies
Forbes gurus: Best investment ideas for 2008
Kalindee Rail surges on new orders
SBI to absorb 6 associates by Mar '09
Source: http://www.sify.com/finance. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
24 December 2007
Economic Times Stories
http://economictimes.indiatimes.com/
Trusts can now hit Dalal Street
Gujarat Inc rides the Modi wave
Sensex gets into Christmas spirit, raises a 691-pt toast
Temasek leads 'PE'cking order
SBI merger plan hits fast track
PVR to invest Rs 100 cr in movie production
NSDL wants probe on stock transfers
Merrill deal boosts Wall Street
Vijaya Bank to raise Rs 200 crore: Bankers
Banks second only to oil cos in filling up taxman's vault
Merrill to get $6.2 bn cash infusion from Temasek, US asset manager
BOC India in deal to develop Hyderabad land
Aban Offshore gets Chevron Offshore contract
IFFCO to invest $100 mn in Senegal's ICS
Reliance Entertainment to sell 5%, eyes movie business
Pyramid Saimira to digitise Malaysian movie theatres
Chandrayaan-I estimated to cost Rs 400 crore
Short selling clearance surprises CSE veterans
Sub-brokers require SEBI approval for change in affiliation
Investor wealth soars by Rs 1.97 lakh cr
Wipro catapults over 7% on Capgemini bid reports
2007: An extraordinary year for fund flows
IRDA asks life cos to focus on renewal of existing policies
Insurance sector to touch Rs 2,00,000 cr by 2010: Assocham
PSUs to hold hands even after golden handshake
Oberois own three of world's top hotels
If projected as PM of India in next general elections, will rest of the country also support Modi?
ET Features
Investor's Guide
Why should you invest in mid-cap stocks?
Out-of-the-box success
Hot and sizzling calendars of 2008
Oberois own three of world's top hotels
Source: http://economictimes.indiatimes.com/ . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Trusts can now hit Dalal Street
Gujarat Inc rides the Modi wave
Sensex gets into Christmas spirit, raises a 691-pt toast
Temasek leads 'PE'cking order
SBI merger plan hits fast track
PVR to invest Rs 100 cr in movie production
NSDL wants probe on stock transfers
Merrill deal boosts Wall Street
Vijaya Bank to raise Rs 200 crore: Bankers
Banks second only to oil cos in filling up taxman's vault
Merrill to get $6.2 bn cash infusion from Temasek, US asset manager
BOC India in deal to develop Hyderabad land
Aban Offshore gets Chevron Offshore contract
IFFCO to invest $100 mn in Senegal's ICS
Reliance Entertainment to sell 5%, eyes movie business
Pyramid Saimira to digitise Malaysian movie theatres
Chandrayaan-I estimated to cost Rs 400 crore
Short selling clearance surprises CSE veterans
Sub-brokers require SEBI approval for change in affiliation
Investor wealth soars by Rs 1.97 lakh cr
Wipro catapults over 7% on Capgemini bid reports
2007: An extraordinary year for fund flows
IRDA asks life cos to focus on renewal of existing policies
Insurance sector to touch Rs 2,00,000 cr by 2010: Assocham
PSUs to hold hands even after golden handshake
Oberois own three of world's top hotels
If projected as PM of India in next general elections, will rest of the country also support Modi?
ET Features
Investor's Guide
Why should you invest in mid-cap stocks?
Out-of-the-box success
Hot and sizzling calendars of 2008
Oberois own three of world's top hotels
Source: http://economictimes.indiatimes.com/ . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Myiris, Moneycontrol Updates
Myiris.com
Brokers`Outlook: Market may open positive on Wednesday
Wrap up: Market winds up on a merry note
Satyam to set up new Center of Excellence at Hyderabad
Govt. approves 19 FDI of Rs 7.29 bn
Spanco Telesystems bags eSeva contract from EDS
Dishman is excellent investment opportunity: Emkay Research
Pidilite gets HC nod for scheme of demerger
Alpa Lab enters into pact with Wockhardt
Info Edge mulls raising FII limit
Petron Engg. bags Rs 96 mn orders from Madras Cements
DCW on expansion spree
Triton Corp board approves stock split
Nagarjuna Construction bags contract worth Rs 5700 mn
Orient Global to pick up 6.48% in India Infolline
Gujarat Apollo to disinvest 49% in JV
Merrill Lynch eyes 20% stake in Sharekhan
MRF likely to get 500 acres for proposed Tamil Nadu plant
LT Overseas buys US rice firm Kusha
GAIL to issue bonus shares
JSW Steel may ink pact with German railroad operator
------------------------------------
Moneycontrol.com
Gujarat Polls, IT stocks spread X'mas cheer in mkts
Liquidity to continue into India: ABN Amro AMC
Guj Poll Impact: State based cos' shares shine
Finquest's top midcap picks
7 important reasons to invest in SIPs
Mkts to see higher levels: Experts
Short selling may be in place in 6 mths: Emkay Shares
Market cues: F&O Open Interest up by Rs 443 cr
Manjushree Extrusions IPO opens on Jan 7
KNR Constructions to enter capital market
Delhi HC not to grant stay on crossover spectrum allotment
Funds to be used to expand broking biz: India Info
RBI draft note asks banks to cut ATM use charges
World's largest fund to be launched soon!
IFC may pick 18-20% stake in Meghmani Fine Chem: Sources
KS Oils can double, says Chakrabarty
Kinetic Engg gains 13% on fund raising plan
Source: Above sites. . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Brokers`Outlook: Market may open positive on Wednesday
Wrap up: Market winds up on a merry note
Satyam to set up new Center of Excellence at Hyderabad
Govt. approves 19 FDI of Rs 7.29 bn
Spanco Telesystems bags eSeva contract from EDS
Dishman is excellent investment opportunity: Emkay Research
Pidilite gets HC nod for scheme of demerger
Alpa Lab enters into pact with Wockhardt
Info Edge mulls raising FII limit
Petron Engg. bags Rs 96 mn orders from Madras Cements
DCW on expansion spree
Triton Corp board approves stock split
Nagarjuna Construction bags contract worth Rs 5700 mn
Orient Global to pick up 6.48% in India Infolline
Gujarat Apollo to disinvest 49% in JV
Merrill Lynch eyes 20% stake in Sharekhan
MRF likely to get 500 acres for proposed Tamil Nadu plant
LT Overseas buys US rice firm Kusha
GAIL to issue bonus shares
JSW Steel may ink pact with German railroad operator
------------------------------------
Moneycontrol.com
Gujarat Polls, IT stocks spread X'mas cheer in mkts
Liquidity to continue into India: ABN Amro AMC
Guj Poll Impact: State based cos' shares shine
Finquest's top midcap picks
7 important reasons to invest in SIPs
Mkts to see higher levels: Experts
Short selling may be in place in 6 mths: Emkay Shares
Market cues: F&O Open Interest up by Rs 443 cr
Manjushree Extrusions IPO opens on Jan 7
KNR Constructions to enter capital market
Delhi HC not to grant stay on crossover spectrum allotment
Funds to be used to expand broking biz: India Info
RBI draft note asks banks to cut ATM use charges
World's largest fund to be launched soon!
IFC may pick 18-20% stake in Meghmani Fine Chem: Sources
KS Oils can double, says Chakrabarty
Kinetic Engg gains 13% on fund raising plan
Source: Above sites. . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
Trusts get nod to invest in stock markets : Rediff
Trusts get nod to invest in stock markets
The government on Monday allowed all trusts to invest in securities, including shares and bonds of listed companies, a move that would further boost the booming market.
For this purpose, an amendment in the Indian Trusts Act, 1982 will be moved in Parliament in the next session to enable the government notify a class of securities as eligible for investment by trusts, said a government statement issued after the meeting of the Union Cabinet in New Delhi.
A Finance Ministry official told PTI that after the amendment to the Act, the government would allow all trusts set up under the Act, which include private and public trusts like educational trusts, to invest in shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities.
Analysts said the measure could release thousands of crores of surplus funds, presently invested in risk-free bank deposits, into the stock markets.Earlier, the government used to allow trusts to invest in securities on a case by case basis. This practice would now be done away with, the official said.
As per the Indian Trusts Act, the trusts are already allowed to invest in units issued by the Unit Trust of India (UTI) under any unit scheme.Referring to the Securities Contract Regulations Act, 1956, the official said option in securities would also allow trusts to purchase or sell securities in future including put and call in securities.
Source: www.rediff.com. . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
The government on Monday allowed all trusts to invest in securities, including shares and bonds of listed companies, a move that would further boost the booming market.
For this purpose, an amendment in the Indian Trusts Act, 1982 will be moved in Parliament in the next session to enable the government notify a class of securities as eligible for investment by trusts, said a government statement issued after the meeting of the Union Cabinet in New Delhi.
A Finance Ministry official told PTI that after the amendment to the Act, the government would allow all trusts set up under the Act, which include private and public trusts like educational trusts, to invest in shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities.
Analysts said the measure could release thousands of crores of surplus funds, presently invested in risk-free bank deposits, into the stock markets.Earlier, the government used to allow trusts to invest in securities on a case by case basis. This practice would now be done away with, the official said.
As per the Indian Trusts Act, the trusts are already allowed to invest in units issued by the Unit Trust of India (UTI) under any unit scheme.Referring to the Securities Contract Regulations Act, 1956, the official said option in securities would also allow trusts to purchase or sell securities in future including put and call in securities.
Source: www.rediff.com. . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.
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