Market ends choppy session higher

The market ended in the green on Thursday after flip-flopping between positive and negative terrain through the day. The positive opening on European bourses helped boost sentiment in the last hour of trade.

After a firm opening, the market lost steam after the annual rate of inflation fell by as much as 200 basis points to a historic low of 0.44 percent for the week ended March 7 against 2.43 percent for the week before.

Bombay Stock Exchange’s Sensex settled at 8,995.89, up 19.21 points or 0.21 per cent. The index swung in a 100-point band through the day. Justify Full

National Stock Exchange’s Nifty rose 0.34 per cent or 9.4 points to 2804.10. The index moved in a range of 2822.25 and 2771.35.

BSE Midcap Index ended 0.45 per cent higher and BSE Smallcap Index was up 1.08 per cent.

Larsen & Toubro (-4.14%), BHEL (-3.15%), Tata Motors (-2.75%), Reliance Communications (-2.03%) and Mahindra & Mahindra (-1.8%) remained under pressure.

Sterlite Industries (4.18%), HDFC (2.53%), Tata Consultancy Services (1.62%), Maruti Suzuki (1.7%) and Sun Pharmaceuticals (2.33%) posted modest gains.

Market breadth on BSE showed 1358 advances against 1102 declines

Source: economictimes.indiatimes.com

Alkali Metals Limited IPO Information

Incorporated in 1968, Alkali Metals Limited is a Hyderabad based manufacturer of sodium derivatives, pyridine derivatives and verity of fine chemicals. Products in these categories include amides, hydrides, alkoxides, azides, tetrazoles, pyridine compounds, cyclic compounds, drug and pharma intermediates, specialty fine chemicals etc. Apart from the above, Alkali has developed 246 products in the aforesaid categories.

Company has two manufacturing facilities. Both of these facilities are ISO 9001: 2000 and ISO 14001:2004 certified with combined installed capacity of 4,400 MTPA.

Being more then 35 years old, company has list of long term clients specially in the field of Petrochemicals, Chlor- Alkali & Inorganic chemicals, Organic chemicals, Paints and dyes, Fine and specialties and Agrochemicals. Company’s top three customer’s account for 18.16% of its turnover for the FY 2008 and top 10 customers account for 42.81% of its turnover.
Objects of the Issue:

1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital: Setting up of an Active Pharmaceutical Ingredients (API) plant at Jawaharlal Nehru Pharma City at Visakhapatnam with an installed capacity of 672 MTPA;
2. General Corporate Purposes.

Alkali Metals AML IPO Grading / Rating
ICRA has assigned an IPO Grade 2 to AML IPO. This means as per ICRA, company has below average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
Alkali Metals Limited IPO Information

»» Public Issue Open: October 07, 2008 to Oct 15, 2008
»» Public Issue Type: 100% Book Built Issue (Initial Public Offer IPO)
»» Public Issue Size: 2,550,000 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 86/- to Rs 103/-
»» Market Lot: 65 Shares
»» Minimum Order Quantity: 65 Shares
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE, NSE
»» Lead Manager: Saffron Capital Advisors Private Limited
»» Registrar: Cameo Corporate Services Ltd (Ph: 44 2846 0390/1948 Email: cameo@cameoindia.com)

NSE Notice (Posted on Friday, Oct 10 2008): Book Running Lead Manager to the issue has informed the Exchange that the Book Building issue of ALKALI METALS LIMITED will close on Oct 15, 2008 instead of the earlier closing day on Oct 10, 2008. Further price band has revised from Rs 90 /- to Rs 105 /- per share to Rs 86 /- to Rs 103 /- per share.

Courtesy: Chittorgarh.com

Anu’s Lab IPO to enter the Capital Market on May 12

Hyderabad-based Anu's Laboratories is ready to enter the capital market on May 12 with its initial public offering of 3.82 million equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process.

The company has fixed the price band of Rs 200 to 210 per equity share for its forthcoming initial public offering (IPO). The issue will close on May 15.

ICRA leading credit rating agency has assigned an IPO Grade 2, indicating below average fundamentals to the proposed IPO.
Anu's Labs is engaged in the manufacturing of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers.

The company plans to utilize the proceeds for - setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients at Vishakhapatnam, setting up of pilot plant for carrying out Contract Research and Manufacturing at Vishakhapatnam, long term working capital requirement, general corporate purposes and for issue expenses.

The equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE) and National Stock Exchange (NSE).

The book running lead manager to the issue is Almondz Global Securities.

Source : www.topnews.in

Gokul Refoils and Solvent IPO receives 0.54 times subscription

The Initial Public Offering (IPO) of Gokul Refoils and Solvent Limited which opened for subscription on May 08, 2008 has received subscription of 0.54 times till 5:00 PM on May 12, 2008. The IPO closes for subscription on May 13, 2008.

The issue has received total bids for 3867395 equity shares against the offer of 7158392 shares. The issue has received bids for 1109080 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 1318940 shares against the offer of 3541696 equity shares resulting in a subscription of 0.3724 times.

The Non Institutional Investors portion of the issue has received subscription of 1.1808 times with bids for 1254645 equity shares against the offer of 1062508 shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 1217580 equity shares against the offer of 2479188 shares resulting in a subscription of 0.4911 times.

The Employee Reservation portion has received subscription of 1.0164 times with bids for 76230 equity shares against the offer of 75000 shares.

Source : http://www.equitybulls.com/

Sensex gains nearly 200 pts @ 11:40 hrs

With a majority of its components holding firm with most of their gains intact, the Sensex remains well entrenched in the positive territory this morning. Realty, consumer durables, metal, bank, capital goods, information technology and power stocks have posted impressive gains.

PSU, pharma and auto stocks have also fared reasonably well. Oil and FMCG stocks remain subdued due to lack of support. Besides a number of large cap stocks, several stocks from midcap and smallcap segments too have moved up sharply this morning.

At 17,059.68, the Sensex is up with a big gain of 198.78 points or 1.18% at present. The Nifty has gained 0.87% or 43.65 points at 5056.30.

Among metal stocks, heavyweights Tata Steel (2.8%), Hindalco (4.3%) and Nalco (5.05%) have posted strong gains. SAIL is up with a gain of 1.6% at Rs 172.05.

Shree Precoated Steel has jumped 8.4% to Rs 215.70. Bhushan Steel, Gujarat NRE Coke, Ispat Industries, Jindal Saw and Sesa Goa have gained 2% - 4%. Hindustan Zinc, Jindal Stainless, Maharashtra Seamless and Welspun Gujarat have also gained significant ground.

Banking sector heavyweights ICICI Bank and State Bank of India have gained 2.35% and 0.5% respectively. HDFC Bank is up with a marginal gain of 0.35%.

Karnataka Bank has vaulted 7.5% to Rs 216. UCO Bank has notched up a gain of 7.35%. Allahbad Bank, Axis Bank, Bank of Baroda, Bank of India, Canara Bank, Federal Bank, Indian Overseas Bank, Kotak Bank, Oriental Bank of Commerce, Dena Bank, Bank of Maharashtra, Indian Bank, Punjab National Bank, Union Bank of India and Yes Bank are also up with sharp gains.

Jaiprakash Associates (up 4.6% at Rs 257.70) remains the top gainer from the Sensex pack. Reliance Energy has gained a little over 4.25%. Satyam Computer Services, Larsen & Toubro and DLF have gained 2.9%, 2.55% and 2.35% respectively.

BHEL, Maruti Suzuki, Infosys Technologies, Reliance Communications, ACC, Cipla, Grasim Industries and Tata Consultancy Services are up by 1% - 2%. HDFC and Reliance Industries also trade firm, albeit with less pronounced gains.
Source : http://sify.com

Nifty downside capped at 4800; optimism guarded

MUMBAI: The outlook for markets remains that of guarded optimism. Taking cues from US markets, Indian equities may trade positive but will be in a tight range on Tuesday. Foreign funds data shows buying from their side. Nifty put-call ratio rose to 1.46 levels, hinting put writing at lower levels.
US markets gained Monday as a retreat in oil prices boosted consumer shares and the world's largest bond insurer said it has enough cash to cover the securities it guarantees.

Back home, markets bounced back Monday from day's lows. Nifty gained 0.60 per cent to close above 5000. Nifty May futures gained 0.65 per cent on short covering. As indices gained momentum on fresh buying in frontline stocks, bears covered their short positions.

Nifty May futures shedding open interest positions and rise in cost of carry and premium indicates formation of long and covering of short positions.

In options, Nifty calls of strike 5000-5300 shed open interest positions. However, huge build up was witnessed at 4800 put Nifty June expiry, capping the downside in the near term. Also, build up of position was seen at 4900-4800 puts on Nifty May.

In stocks futures, build up of longs was seen in Arvind Mill, Ashok Leyland, Bajaj Holding, Bharat forge, Bhushan steel, Canara Bank, Financial Technologies, Grasim Industries, Hindustan Unilever and Union Bank.

However, short built up was witnessed in ABB, Axis Bank, BEML, Chennai Petro, Edelweiss, Petronet LNG, shree Cement and Tata Motors.

F&O turnover on NSE was Rs 41,000 crore, up 17 per cent from Friday. Foreign funds were net buyers of Rs 225 crore in futures and Rs 324 crore in options.

“Shedding of calls indicates market may see some pull back rally Tuesday. If Asian markets open on positive note Indian markets may trade firm. Nifty will move in a range of 4900-5300," said an analyst with local brokerage.

However, Index of Industrial Production growth at a disappointing 3 per cent for March may continue to weigh on sentiment.

Source : http://economictimes.indiatimes.com

Sensex fails to retain gains, ends 20 pts up

A strong bout of selling in frontline stocks during the final hour of trade pushed the market, which had opened on a high note and remained well entrenched in the positive territory till then, down to a flat close today.
The Sensex, which rose by over 300 points to an intra-day high of 18,317.28, ended the session with a marginal gain of 19.80 points at 17,825.59, while the Nifty, which touched a high of 5368.15, closed with a small loss of 1.65 points at 5268.40.
Earlier, thanks to a sharp surge on Wall Street and impressive gains posted by stocks on the Asian bourses, the market had got off to a rousing start this morning. However, after moving in a tight band for a better part of the session, equities, led by IT, cement and bank stocks, drifted lower on selling pressure in afternoon trade.
The negative opening on the European bourses contributed to the market's weakness in late afternoon trade. Information technology and cement stocks took a severe beating today. While bellwether Infosys Technologies closed with a loss of 2.65%, Satyam Computer Services and Tata Consultancy Services ended lower by 2.8% and 2.2% respectively. Wipro, which fared relatively better, settled with a loss of 0.95%.
Cement stock Grasim Industries lost over 5% as it settled at Rs 2888.65. ACC and Ambuja Cements eased by 1.75% and 0.35% to Rs 816.05 and Rs 122.90 respectively.
Reliance Energy, which opened on a high note, lost its way midway through the session and finished with a sharp loss of 3.85% at Rs 1631.35. State Bank of India closed with a loss of 1.75% at Rs 2082.55. ICICI Bank and HDFC Bank also ended in the negative territory, albeit with marginal losses.
Bajaj Auto opened weak and remained that way right till the end. It ended the session with a loss of 1.4%. Reliance Communications closed 1.3% down at Rs 585.45. DLF, Hindalco and NTPC lost 0.6% - 1%. Cipla, Hindustan Unilever and ITC finished with slender gains.
Tractor major Mahindra & Mahindra rallied smartly on expectations of increased spending in agricultural sector. The stock, which shot up to a high of Rs 678.40 in intra-day trades today, ended at Rs 658.65 with a handsome gain of 4.55%. Housing finance major HDFC notched up a gain of over 4.25%. Pharma major Ranbaxy Laboratories surged 4.1% to Rs 436.35.
BHEL and Larsen & Toubro, the capital goods heavyweights, ended stronger by 3.8% and 3.2% respectively. Automobile stocks Maruti Suzuki (2.4%) and Tata Motors (0.8%) also had a nice ride up the charts. ONGC moved up by a little over a per cent. Bharti Airtel and Tata Steel closed with marginal gains.
Sun Pharmaceuticals (5.25%) was the biggest gainer in the Nifty index. GlaxoSmithKline Pharma surged 4.65%. Siemens (3.8%), Punjab National Bank (2.05%), Idea Cellular (2%), GAIL India (1.55%) and Tata Power (1.25%) also ended on a firm note.
Nalco, Tata Communications, Sterlite Industries, Suzlon Energy, Zee Entertainment, HCL Technologies, Unitech, Hero Honda, Dr. Reddy's Laboratories, SAIL and BPCL were among the prominent losers.
Punjab Tractors, JB Chemicals, CESC, Lanco Infratech, Asian Paints, Spice Telecom, Power Grid, Crompton Greaves, Gujarat Industries & Power, Ispat Industries, ICI India, Tata Chemicals, IndusInd Bank and Gujarat Mineral were among the prominent gainers today.
Midcap stocks TV 18, Bharat Bijli, Elecon Engineering, Renuka Sugars, Ashapura Minechemicals, IVRCL Infrastructure, Indraprastha Gas, Gujarat Alkalies, Walchandnagar Industries, Godrej Industries, Mercator Lines, Prakash Industries, SREI Infrastructure, Astrazen Pharma, Usha Martin and Texmaco gained significant ground on sustained buying support today.
IRB Infrastructure, which made its debut a couple of sessions ago, posted a sharp gain of 10.25% today. The IRB Infrastructure counter on NSE clocked a volume of 14.73 million shares today.

Source : www.sify.com