Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

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04 January 2008

ET Top Stories

http://economictimes.indiatimes.com/

Reliance Power IPO
Stockbrokers under lens for evading service tax
FIIs invest in shares worth Rs 16 cr on bourses
Govt expects Rs 2-lakh cr investment in aviation in 10 yrs

SAIL to invest Rs 10,000 cr for expansion of Rourkela plant
Future Cap IPO gets average rating
Forex reserves up by $2.8 bn
Annual inflation at 3.50%

Indo Asian sees FY-08 revenues at Rs 300 crore
Societe Generale broking arm to set up shop in India
ADAG to foray into power equipment manufacturing
Anil expects win-win solution on RNRL-RIL dispute

HPCL, Reliance among bidders for Bihar sugar mills
LG Elec shares jump on Q4 earnings hopes
Heard on the street
Short-sellers will make Indian market stronger

Brokerage Platter: Tulip IT, Subhash Projects
SAT to hear complaints against Reliance Power IPO on Jan 14
Re climbs on RBI comments, flow outlook
Gold zooms past Rs 11,000-mark

Private insurers outrun LIC agents

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.

Sensex beats Chak De India in popularity poll

Sensex beats Chak De! India in popularity poll
ET-Dentsu Top Hits 2007: Sensex beats Chak De!

Emerging India is obsessed with winning. The turf is immaterial. So, whether it was the stock market, movies, cricket or simply enjoying good things in life, Indians feasted on a host of winners — expected, unexpected or out-and-out dark horses, who romped home in 2007. ET-Dentsu Top Hits 2007 survey, the second in succession, ranked anything from popular content to social phenomena, changing consumer habits to actual physical products that may have left a mark on Indians’ minds. Individuals, however, were excluded from the list as it only captures trends, not personalities.

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Sensex, Chak De! India and Twenty20 Cricket World Cup victory led the hits parade in 2007 in an end-of-the-year online survey conducted by Dentsu India. The survey polled 2,227 individuals in the 16-60 age group. An initial consumer research brought down the list from 100 to 40, which was then included in the e-survey.

Sensex’s climb from 12,000 to 20,000, which left millions of investors rich beyond expectations, also came to virtually personify the buoyancy in the economy — a fifth year of average 8.6% GDP growth, jobs for the asking and zooming incomes. According to Nokia India MD (mobiles) D Shivakumar “The Sensex, in essence, captures a number of things: the state/mood of the nation, the acceptance of wealth creation, a move from old world socialism to celebration of capitalism. It’s a reaffirmation of the confidence in the Indian system today.”

Source: http://www.theeconomictimes.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.

Reliance Power IPO Stories

'Grey' record by Reliance Power

Within few days of getting clearance from SEBI, Reliance Power's initial public offering (IPO) has created a new record in the Indian grey markets. A Rs 1 lakh application form of the IPO is fetching a price of over Rs 9,000 per form. This is considerably higher than the previous record-making price of Rs 7000 per form set by Adani group's Mundra Port & SEZ IPO a couple of months back.
Over 1 lakh shares are being traded daily in the grey markets even before the IPO's dates have been announced. According to grey market operators, currently the stock was being traded at a premium of around Rs 425 per share on Thursday, higher than the Rs 395-400 price a day before.
The IPO, which is expected to open on January 15, 2008 and closing on January 18, 2008, is being priced in the range of Rs 415-Rs450. For Rs 1 lakh application form, the rates are over Rs 9000 for fully paid-up shares and over Rs 6000 for partly-paid up shares.

The trading in grey market started couple of days back with premium quoted at Rs 340-350. Since the IPO dates were not announced, the volume was low on opening, but after the recent announcement of issue opening and price range, the volume has picked up substantially. SEBI had cleared Rel Power's issue on December 28, 2007 with a condition that 20 per cent of the promoters capital should be locked-in for a period of five years instead of normal lock-in period of three years.

Reliance Power Ltd, which is Anil Dhirubhai Ambani Group (ADAG) promoted company, was created as a separate company from Reliance Energy Ltd (REL) to handle the power generation business of the group. The company has 12 power projects under development with a total estimated cost of Rs95,591 crore. It recently won the 4000 MW ultramega power project (UMPP) at Krishnapatnam in Andhra Pradesh after having bagged the contract for another UMPP in Sasan, Madhya Pradesh.

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R-Power IPO: You can pay in phases

MUMBAI: Reliance Energy is going all out to woo retail investors for the upcoming initial public offer (IPO) of its subsidiary, Reliance Power. After deciding to offer shares to retail investors at a 5% discount to the price band of Rs 405-450, the Anil Ambani Group entity intends to provide this investor segment with a “staggered payment” option in this IPO. Accordingly, retail investors need to pay only 25% of the total investment amount at the time of submitting the application and the rest at the time of allotment on first call, a source familiar with the development said.
Special: Powered by Reliance
By availing this option, the investor does not have to lock in the entire amount for which he has applied in the IPO. This means, if a retail investor intends to apply for 100 shares at Rs 450 per share (Rs 427.50 after discount), he would need to pay only Rs 10,687.5 (25% of Rs 42,750 while applying and the rest during allotment, as against the lumpsum of Rs 42,750. This option brings a level playing field for retail investors vis-à-vis qualified institutional buyers(QIBs), who are allowed to bid in an IPO with just 10% margin while submitting the bids in a public issue. Prominent public issues, which enabled the staggered payment options in recent times include ICICI Bank and Reliance Petroleum.

The Reliance Power issue, which would raise as much as Rs 11,700 crore by offering 26 crore shares, is likely to open on January 15 and close on Jan 18. The offer, which will be India’s biggest ever IPO, is expected to generate significant interest from both institutional and retail investors, going by the response in the unofficial grey market, analysts said. Rating agency Crisil has graded the Reliance Power IPO '4/5', an indication that the fundamentals of the issue are above average.

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Other Stories

Retail investors get discount in Rel Power IPO
Reliance Power to be listed in early Feb
Grey mart: Rs 1L in Rel Power IPO will earn 9% in 20 days
Power cos plan to raise $10 bn from primary market & pre-IPO placements

Source: http://economictimes.indiatimes.com and 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 vaults 342 pts; Nifty ends 96 pts up

Sensex vaults 342 pts; Nifty ends 96 pts up
Reliance pulls Sensex to record close

Sensex ends up over 340pts, L&T gains 4%

NSE 6274.30 95.75
BSE 20686.89 341.69

Shrugging off weak US and Japanese markets, the bulls entered the ring this morning, got equities off to a firm start and then, stepped up momentum in style as the session progressed. Though a bit selective with regard to the broad market, they proved relentless in their pursuit for key stocks from oil, banking, capital goods, FMCG and metal sectors. Gains posted by key stocks from these sectors were so strong that the benchmark indices Sensex and Nifty went on to scale new peaks this afternoon.

Information technology stocks had another disappointing outing with the rupee's surge forcing the investors out of the counters. Auto stocks, barring a select few, found the going tough. Pharma and consumer durables stocks turned subdued after a fairly positive start. Buying remained stock specific in power, PSU and realty sectors.

The Sensex, which opened marginally higher at 20,367.94, crossed new milestones in a hurry and hit a lifetime high of 20,762.80 in late afternoon trade before finally settling down at 20,686.89 with a massive gain of 341.69 points or 1.68%. The Nifty posted a new high at 6300.05 and ended at 6274.30, around 1.55% or 95.75 points higher than its previous closing mark.

Profit-taking saw several smallcap stocks losing sheen. Midcaps fared relatively better. The market breadth, which remained strong till a little past mid-afternoon, turned almost neutral as the session drew to a close. Out of 2922 stocks traded on BSE today, 1479 stocks closed with gains. 1422 stocks ended on a losing note and 21 stocks finished at their previous closing levels.
ICICI Bank, which emerged as the biggest gainer from the Sensex pack, ended stronger by 4.7% at Rs 1285.35. Larsen & Toubro surged 4.5% to Rs 4244.40. Hindustan Unilever, Reliance Communications and Hindalco gained 3.8%, 3.65% and 3.45% respectivley. ONGC notched up a gain of 2.9%.

Reliance Industries, which played a significant role in lifting the market to new highs today, ended with a handsome gain of 2.9% at Rs 2985.85. ITC and DLF moved up by around 2.35% to Rs 219.55 and Rs 1112.50 respectively. HDFC advanced by 2.2% to Rs 3111.50 and BHEL gained 1.35%.

Ranbaxy Laboratories, Tata Steel, Wipro and Bajaj Auto finished with marginal gains. HDFC Bank opened well but failed to retain gains and settled just above its previous closing price.
Among the losers from the Sensex, NTPC eased by 1.75% to Rs 271.75. Mahindra & Mahindra, Cipla, Ambuja Cements, Tata Consultancy Services, Tata Motors, Maruti Suzuki and Infosys Technologies lost 1% - 1.5%. Satyam Computer Services ended nearly a per cent down. ACC eased by 0.45%. Reliance Energy, Grasim Industries and State Bank of India finished with small losses while Bharti Airtel settled lower by less than a rupee.

Reliance Petroleum, Sterlite Industries, Siemens, Dr. Reddy's Laboratories, Idea Cellular, Tata Power, HCL Technologies, GlaxoSmithKline Pharma, SAIL and Suzlon Energy ended with strong gains. Sun Pharmaceuticals, Nalco, Hero Honda, BPCL and Zee Entertainment closed with sharp losses.

Punjab Tractors zoomed 29.5% to Rs 351.50. Hinduja Ventures closed with a big gain of 13.55%. Parsvnath Developers, EIH Limited, Bombay Dyeing, Orchid Chemicals and Aditya Birla Nuvo moved up by 6% - 10%. IPCA Laboratories, Engineers India, HMT, National Fertilizers, Rashtriya Chemicals & Fertilizers, Sun TV Network, SKF India and Colgate Palmolive also ended on a high note.

Adlabs Films, Bajaj Auto Finance, Torrent Power, Panacea Biotech, Monsanto, Himatsingka Seide, Shopper's Stop, Bajaj Hindustan, NDTV, Praj Industries, Gujarat Petronet, Advanta, Jyoti Structures and Essar Shipping were among the other major gainers from the midcap index.
Hindustan Motors gained over 20% on strong volumes. With a turnover of around Rs 346.72 crore on a volume of nearly 43 million on the National Stock Exchange, it was among the most actively traded stocks today. RNRL (3.95%) and Jaiprakash Associates (3.35%) also moved up on hefty volumes.

Other Sify Stories

RIL, HPCL to run sugar mills
Batliboi to issue shares
BHEL bags order from Azerbaijan
Risk-free returns in choppy markets

Jaguar-LR: Tatas in driver's seat
FM wants banks to cut lending rates
Ramsarup Industries at new high on order win
Exide Industries Q3 results on Jan 14

Gateway Distriparks to raise up to Rs 300 cr
Inflation rate rises to 3.50%
Bank of Baroda sees FY08 net profit up 25%
Bank of Maharashtra sees Oct-March net up 40%

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.

03 January 2008

Top executives make crores by encashing stock options : ET

Top executives make crores by encashing stock options

Forget year-end bonuses. India Inc’s professionals have capitalised on the market boom to make some serious money in the last quarter of 2007. With the market at record levels, several big shots encashed crores by selling part of their stock options in the last three months.

While several of them pulled out a few lakhs, some big shots including Vineet Nayyar of Tech Mahindra, HDFC’s Deepak Parekh and Renu Karnad, AM Naik and VK Magapu of L&T and PB Kashyap of Ambuja Cement have grossed crores in the run-up to the new year. The biggest gainer was Tech Mahindra MD Vineet Nayyar, who encashed Rs 23 crore last week.

The head of the outsourcing firm which went public in 2006 is still sitting on a neat pile. Given the outstanding shares in his name, Mr Nayyar currently owns Tech Mahindra shares worth a little over Rs 140 crore, which would place him among the best compensated chief executives in the country. Among other well-known names, HDFC's Deepak Parekh and Renu Karnad sold shares worth Rs 9.3 crore each in mid-December. They had earlier sold shares worth about Rs 5 crore each in late September. And that’s not all.

The current value of the shares that Ms Karnad holds adds up to Rs 45.45 crore or more than $11 million, while that of Mr Parekh stands at Rs 60 crore or about $15 million. Some of the other board members of HDFC also encashed a part of their holdings. For instance, SB Patel has encashed about Rs 1.38 crore at the fag end of October, while NM Munjee, an independent director in HDFC and currently chairman of Development Credit Bank, encashed about Rs 92 lakh through multiple transactions over the last eight weeks. It's not just the service sector companies whose top execs have hit bull’s eye.

Take engineering and construction giant Larsen & Toubro (L&T), which has been facing succession issues. The company, which had to extend the retirement age of its top management, including its chairman and managing director, has created quite a few millionaires. L&T chairman and managing director AM Naik sold shares worth Rs 8.6 crore between end of October and early November.

Among others, whole-time director VK Magapu encashed Rs 8.5 crore while RN Mukhija and KV Ramaswami pulled out approximately Rs 87 lakh and Rs 84 lakh respectively.

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.

Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

04 January 2008

ET Top Stories

Sensex beats Chak De India in popularity poll

Myiris, Moneycontrol.com Updates

VC, PE updates,Jobs from VCCircle.com, Indiape.com

Rediff, Deadpresident Updates

Reliance Power IPO Stories

Sensex vaults 342 pts; Nifty ends 96 pts up

03 January 2008

ET Top Stories

Top executives make crores by encashing stock options : ET

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