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