BSE Sensex climbs 0.57% as FMCG, metal lead upsurge

The BSE 30-share Sensex rose 112.78 points or 0.57% to 20,069.12. The Sensex rose 158.39 points at the day's high of 20,114.73 inlate trade. The index fell 91.88 points at the day's low of 19,864.46 in early afternoon trade.

The S&P CNX Nifty rose 38.65 points or 0.65% at 6,029.95.

The BSE Mid-Cap index fell 0.24%. The BSE Small-Cap index rose 0.11%. Both these indices underperformed the Sensex.

The BSE FMCG index (up 1.40%), Metal index (up 0.82%) and the banking index Bankex (up 0.76%), outperformed the Sensex.

The BSE IT index (up 0.26%), Capital Goods index (up 0.07%), Realty index (up 0.02%), Healthcare index (down 0.09%), Power index (down 0.34%), PSU index (down 0.51%), Auto index (down 0.51%), Consumer Durables index (down 0.89%) and Oil & Gas index (down 1.17%), underperformed the Sensex.

Market Breadth:

Positive 1309 Negative 1644 Unchanged 120
From the 30 share Sensex pack, 19 rose and rest fell.

GDP growth may surpass 8.5% in 2012 says Finance Minister

Pranab Mukherjee, Finance Minister of India expects financial year growth to surpass 8.5% and if global economy increases it may receive 9% growth in fiscal year 2012. The food price index increased by 16.44% in the year toSeptember 18 versus 15.46% in the previous week.

Lenders of Ispat expect conversion of Rs 932 crore loan to equity

Ispat Industries lenders SBI, IDBI, IFCI, Punjab National Bank and ICICI have taken decision to change Rs 932 crore loans to equity at a face value of Rs 10 per share. But Ispat wants the debt conversion to equity on a relevant date and also seeks informal guidance from SEBI.

Defence minister approves increasing FDI cap to 49%

Defence minister has approved to raise foreign direct investment in defence production to 49% from the current 26%. But the defence minister expects the Cabinet Committee on Security to do final call on the FDI level varying from 26% and 49%.

Expect Rs 1000 crore revenue says Future Group

Future Group expects Rs 1000 crore revenue from its e-commerce venture in 18 to 24 months. The group CEO Kishore Biyani said the company which owns India’s top-listed retailer Pantaloon Retail may get margins of 10 to 12% from e-commerce venture futurebazaar.com.

Tantia Constructions bags Rs 180 crore order from Rail Vikas Nigam

Tantia Constructions has bagged an order worth Rs 180 crore from the Rail Vikas Nigam with a merger name called as Senbo-Tantia. According to Rohini Sureka, the Vice Predident for Finance, the firm's L1 was comprised of two ventures namely EPC and BoT.

Cotton prices trouble Indian apparel manufacturers

The flow of cotton prices has brought bad news for Indian apparel makers because of overseas buyers opposed price increase that can make Indian exports falling as much as 10% in the year-ending March. Global apparel markets are still struggling to overcome the recession.

Equity Fund of Baroda Pioneer PSU gets Rs 100 crores

Baroda Pioneer PSU Equity Fund has got a good response from its investors collecting over Rs 100 crores during the NFO period. The open ended equity scheme by Baroda Pioneer AMC is introduced from September 13 to 27, 2010.

Indosolar has ended shares at Rs 23.7

Indosolar closed shares at Rs 23.7 on Wednesday which is less than 18.3% from its issue price of Rs 29 after it raised to Rs 29.5 and low of Rs 22.6 in an intraday trade. The company saw 36 bulk deals on exchanges which adds 24 deals on NSE and balance on BSE.

Coal India plans to accrue $3 billion via IPO

Coal India plans to accrue $3 billion via IPO which will be largest initial public offering in India. IPO opens around November 4 and the company is selling 631.6 million shares, price expected around October 13 before opening order books on October 18 and final price around October 23.

CEBBCO to accrue Rs 172 crore through an IPO

Commercial Engineers & Body Builders Co (CEBBCO) expects to accrue Rs 172 crore via an initial public offering of more than 15 lakh shares. The price tag for the issue is set at Rs 125-127 aggregating to Rs 31.03 crore which ends on October 5, 2010.

Virgo Engineers IPO received 4/5 grade from CRISIL

CRISIL Equities has issued a grade of 4/5 to the proposed initial public offer (IPO) of Virgo Engineers (VEL). This grade shows the fundamentals of the IPO are above average equal to other listed equity securities in India.

DRHP filed by Emaar MGF with SEBI

Emaar MGF has filed the draft red herring prospectus (DRHP) with the market regulator SEBI. The company which is a merger by Indian lender MGF and Dubai-based Emaar Properties has decreased issue from Rs 3,800 crore to Rs 1,600 crore.

BSE Sensex plunges 0.74% as almost every sector sink

The BSE 30-share Sensex was down 148.52 points or 0.74% to 19,956.34. The Sensex fell 181.75 points at the day's low of 19,923.11 in late trade.The index rose 129.19 points at the day's high of 20,234.05 in early trade.

The S&P CNX Nifty was down 38.20 points or 0.63% at 5991.30.

The BSE Mid-Cap index fell 0.67%. The BSE Small-Cap index fell 0.48%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE fell. The BSE Metal index (down 1.92%), FMCG index (down 1.42%), Consumer Durables index (down 1.16%), PSU index (down 0.92%), Realty index (down 0.89%), and Oil & Gas index (down 0.81%), underperformed the Sensex. The BSE IT index (up 0.24%), Auto index (up 0.08%), Healthcare index (up 0.02%), banking sector index Bankex (down 0.28%), Capital Goods index (down 0.45%), and Power index (down 0.53%), outperformed the Sensex.

BSE clocked turnover of Rs 4482 crore, lower than Rs 4847.48 crore on Tuesday, 28 September 2010.

Market Breadth:

Positive 1144 Negative 1854 Unchanged 89
From the 30 share Sensex pack, 22 fell and rest rose.

BOD meeting on 1st October says Amines & Plasticizers

Amines & Plasticizers Ltd has finalized its BOD meeting to be held on October 01, 2010 to discuss other things and agree dividend at Rs 14/- per share which is 4% p.a on 19,385 Redeemable Cumulative Preference Shares of Rs 100/- each. The company has informed BSE regarding this matter.

Aqua Logistics receives Rs 110 crore worth order

In the latest development, Aqua Logistics Ltd and its subsidiaries have received multiple orders of around Rs 110 crore which also include huge customers in Pharma, Heavy Engineering and FMCG. The company has also informed BSE regarding this matter.

Received order worth Rs 563 lakhs says Western India Shipyard

Western India Shipyard Ltd has received a new order worth Rs 563 lakhs from M/s. Dredging Corporation of India for repairing DCI DREDGE AQUARIU which is one of their large vessels at its shipyard at Marmugao, Goa within the next 40 days.

LIC Housing Finance expects 40% growth over last year

LIC Housing Finance expects to receive Rs 20,000 crore disbursement this year which is around 40% growth over last year which was approximately Rs 15,000 crore and the company is confident of achieving this said R Ramachandran Nair, Director and CEO of LIC Housing Finance.

Revenue Secretary says GST will be discussed in October end

In 2006-2007 Union Budget, finance minister said India should move towards national level Goods and Services Tax (GST) which must be shared by Centre and States. GST is still on hold because of constitutional amendment and ministry panel meet in October end to discuss GST says Sunil Mitra, Revenue Secretary.

FPO of $1.9 billion in November says Power Grid

Chairman and managing director of State-run Power Grid Corp of India, SK Chaturvedi said the company is all set to introduce a $1.9 billion (Rs 8,600 crore) follow-up public offer (FPO) in the second week of November 2010.

Senate Republicans stop the Anti-outsourcing bill

Anti-outsourcing bill that would have stopped tax breaks to US firms that provide jobs overseas was stopped by Senate Republicans. Bill needed atleast 60 votes but managed only 53-45. A ban will take place on government contractors from using American taxpayer money to move jobs offshore according to bill.

Sterlite expects three weeks stay on Madras HC closure order

Sterlite has approached the court to get three weeks stay on Madras HC closure order for the copper smelting plant in Tamil Nadu. The issue has not been listed still in Madras High Court, Sterlite plans to approach the Supreme Court within these three weeks.

Tech Mahindra plans for joint venture with Mahindra Satyam

Tech Mahindra Ltd expects to enter into joint venture with Mahindra Satyam in two to three weeks. The joint venture is expected to take time to get approval from high court and SEBI said president of IT services at Tech Mahindra L. Ravichandran.

Reliance Power plans to complete UMPPs by 2015

JP Chalasani, chief executive officer of Reliance Power, expects to increase its capacity to 5,000 mw by 2012. He said the company has more equity funds and expects its ultra mega power projects (UMPPs), Sasan and Krishnapatnam projects to be finished by 2015.

New Chairman and Vice-Chairman selected by AMFI Board

Mr. U. K. Sinha has been selected as Chairman and Mr. Milind Barve as the Vice-Chairman of AMFI Board to control the firm till their next Annual General Meeting. Both newly appointed have more experience in the Financial Services Sector in general and especially in Mutual Fund Industry.

Expect Rs 800 crore sales in FY11 and Rs 1,800 crore in FY12 says Indosolar

Indosolar has been listed on the bourses at Rs 29.50 a share immediately after the stock dipped 11% to 25.90 a share. H Rahul Gupta, Managing Director of the company said they expect Rs 800 crore sales in FY11 and Rs 1,800 crore in FY12, increasing capacity will to take the company to high numbers.

BSE Sensex slumps 0.06% amidst climb in majority of sectors

The BSE 30-share Sensex was down 12.52 points or 0.06% to 20,104.86. The index fell 135.42 points at the day's low of 19,981.96 in mid-afternoon trade. The Sensex gained 40.13 points at the day's high of 20,157.51 in morning trade.

The S&P CNX Nifty was down 6.15 points or 0.1% at 6,029.50. The index came sharply off the day's low of 5,991.30.

The BSE Mid-Cap index rose 0.2% and the BSE Small-Cap index rose 0.03%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Power index (up 1.15%), Capital Goods index (up 0.93%), Realty index (up 0.48%), banking sector index Bankex (up 0.33%), PSU index (up 0.3%), Metal index (up 0.26%), Auto index (up 0.16%) and Consumer Durables index (up 0.03%), outperformed the Sensex. The BSE FMCG index (down 0.16%), Healthcare index (down 0.23%), IT index (down 0.46%) and Oil & Gas index (down 0.74%), underperformed the Sensex.

BSE clocked turnover of Rs 4808 crore, lower than Rs 4948.22 crore on Monday, 27 September 2010.

Market Breadth:

Positive 1338 Negative 1656 Unchanged 91
From the 30 share Sensex pack, 15 fell and rest rose.

Dividend at Re 1/-per share says Shree Renuka Sugars

Dividend of Shree Renuka Sugars announced at Re.1/-per equity share on the face value of Re 1/-each for FY 2009-10 versus FY 2008-09 which was Re 1/-per equity share of Re 1/-each on pre 1:1 Bonus equity share capital. The company informed to BSE after its BOD meeting on September 28, 2010.

Energy Development Company announced its dividend at 10%

Energy Development Company has announced its dividend at 10% on paid-up share capital of the Company which is Re 1/-per equity shares of Rs 10/-each for FY 2009-10 after approval from members at Annual General Meeting. The company informed to BSE after its BOD meeting on September 28, 2010.

Planning to invest $200 million in Indian infrastructure says AMP

AMP Capital Investors may invest around $200 million in Indian infrastructure sector over next two years. Co-head of Asian infrastructure at AMP Capital Anoop Seth said opportunity is present until deals are there and it is matter of raising the capital and find healthy opportunities.

Dividend at 10% says Energy Development Company

Dividend of Energy Development Company Ltd has been announced at 10% on paid-up share capital of the Company which is Re.1/-per equity shares of Rs 10/each for FY 2009-10 after approval from members at Annual General Meeting. The company informed to BSE after its BOD meeting on September 28, 2010.

E&P; deal talks will restart says RIL & BP

Reliance Industries Limited and British Petroleum expect to restart talks for RIL’s exploration and production (E&P) deal during British Petroleum CEO Robert Dudley’s visit to India on October 4, 2010. BP's Gulf of Mexico oil spill disaster stopped the earlier talks of RIL & BP.

Vascon Engineers to develop a 105 acre township

Vascon Engineers Ltd is prepared to sign up an agreement with Chennai based Bhalakh Realtors Private Limited who is into developing suburb of Chennai situated at Oragadam to start a 105 acre township. The company has informed to BSE regarding this matter.

Glenmark postpones its IPO

Chief Executive and Managing Director of Glenmark said the company has postponed IPO for its subsidiary Glenmark Generics Ltd. The company has no fund requirements as cash-flow was rising which put IPO plans to hold. Glenmark got regulatory approval to increase Rs 600 crore and current debt was around Rs 1,500 crore.

Filed DRHP with SEBI for FPO says Hindustan Copper

Hindustan Copper files DRHP with SEBI for its FPO of 18.39 crore shares of Rs 5 each. The issue made through book building process has an offer for sale of 9.2 crore shares from Government of India via Ministry of Mines and comprises company's 18.08% of post-issue paid-up equity capital.

Price tag at Rs 125-127 per share for IPO of CEBBCO

Commercial Engineers and Body Builders(CEBBCO) are prepared to enter into capital markets with its IPO on September 30, 2010. The price tag is set at Rs 125-127 a share with bids starting at minimum of 55 equity shares and in multiples of 55 shares after that.

AGS Transact Technologies files DRHP for its IPO

AGS Transact Technologies has filed Draft Red Herring Prospectus (DRHP) with SEBI for its IPO of 62,50,000 equity shares of Rs 10 each and the price range not finalized yet. The company is leading system integrators in the business of touch point transformation.

IPO price announced at Rs 118 a share says Microsec Financial Services

Microsec Financial Services has announced Rs 118 a share for its IPO of 1.25 crore equity shares, price tag set at Rs 113-118 per share. The issue was subscribed 12.2 times that opened from September 17-21, 2010 and the Promoters stake decreased to 36.75% and promoters group at 18.03%.

L&T; Finance files DRHP for Rs 1,500 crore IPO

L&T Finance has prepared to file its draft red herring prospectus (DRHP) for Rs 1,500 crore IPO and expect to fund the capital market in L&T Finance and L&T Infra Finance after SEBI's approval said N Shivaram, executive director. Decision will be made after RBI guidelines were completed, he added.

BSE Sensex surges 0.36% as almost all sectors advance

The BSE 30-share Sensex was up 72.20 points or 0.36% to 20,117.38, its highest closing since 15 January 2008. The Sensex gained 222.80 points at the day's high of 20,267.98 in early trade. The index rose 37.08 points at the day's low of 20,082.26 in early trade.

The S&P CNX Nifty was up 17.35 points or 0.29% to 6,035.65, its highest closing since 15 January 2008. Nifty hit high of 6,073.50 in early trade.

The BSE Mid-Cap index rose 0.33% and the BSE Small-Cap index rose 0.13%. Both these indices underperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Metal index (up 2.15%), Consumer Durables index (up 1.64%), Realty index (up 1.23%), Oil & Gas index (up 0.85%), Power index (up 0.83%), PSU index (up 0.82%), Healthcare index (up 0.63%), Auto index (up 0.48%), and Capital Goods index (up 0.42%), outperformed the Sensex. Banking sector index Bankex (down 0.01%), IT index (down 0.48%) and FMCG index (down 0.67%), underperformed the Sensex.

The BSE clocked turnover of Rs 4915 crore, lower than Rs 5689.04 crore on Friday, 24 September 2010.

Market Breadth:

Positive 1505 Negative 1497 Unchanged 94
From the 30 share Sensex pack, 19 rose and rest fell.

Saab to access BMW's technology

Saab will receive access to BMW's technology and parts which can make the Swedish brand profitable again. Saab was acquired by Dutch luxury car manufacturer Spyker from General Motors and BMW expected to finalize the deal on Wednesday.

Gokul Refoils plans for two refineries with Rs 350 crore

Gokul Refoils expected to set up two port based refineries in Maharashtra and another in South which requires an investment of around Rs 350 crore. Vice president of corporate strategy Praveen Khandelwal said the cost for the Maharashtra project is Rs 210 crore and Rs 150 crore for the south project.

Alberto Culver acquired by Unilever for $3.7 billion

Unilever Plc/NV has made a deal to purchase Alberto Culver Co for $3.7 billion to improve its personal care business. Unilever's acquisition will increase brands like V05, TRESemme and Nexxus making it world's leading company in hair conditioning, second largest in shampoo and third largest in styling.

Board approves Rs 1,117 crore for expansion says Abhishek Ind

Abhishek Industries Ltd received approval from its board to capital outlay Rs 1,117 crore to set up 275,904 spindles and 2,040 rotors and also investing Rs 55 crore to develop its terry towel division. The company expects to install 14 new looms and other machineries, finishing house and spinning sections.

OMC demand for Q1 revenue loss rejected by finance ministry

Oil ministry's demand of Rs 13,000 crore from the government to make payment to oil marketing companies (OMC) due to revenue loss in Q1 has been denied by finance ministry because of doubt over calculation of informed revenue loss. But finance ministry expects to pay for revenue lost in Q2.

DQ Entertainment appoints Plus License AB

Chairman and CEO of DQ Entertainment (International) Tapaas Chakravarti said the company has selected Plus License AB (one of the leading licensing and merchandising agents in Sweden) as licensing representatives for 'The Jungle Book'. He also added about the current developments in the company.

Papers filed with SEBI for 10.08 billion rupees IPO says Kalpataru

Kalpataru Ltd has filed initial papers with Securities Exchange Board of India (SEBI) for an IPO to increase 10.08 billion rupees. The company expects to increase 2 billion rupees through pre-IPO and may issue few shares to anchor investors. Kalpataru plans to finance project construction and development costs.

Canaan International Infotech Ltd becomes Meglon Infra-Real (India) Ltd

Canaan International Infotech has been changed its name to Meglon Infra-Real (India) Ltd from Canaan International Infotech Ltd, it has been informed to BSE. The company also planned to move its business from Software business to Real Estate and Infrastructure business.

IPO price tag is at Rs 225-250 a share says Coal India

Coal India will file red herring prospectus (RHP) for its IPO which opens on October 18, 2010 for subscription. The company’s IPO price tag is at Rs 225-250 a share and CIL is set at Rs 1.5 trillion. EGoM expected to decide on anchor investor by September 30.

VA Tech Wabag expected closer to Rs 1,400-1,500

VA Tech Wabag's IPO received high response from qualified institutional investors(QIBs), issue was subscribed 15.2 times. Retail will pick up and pedigree premium will be received by VA Tech Wabag and the stock expected closer to Rs 1,400-1,500 taking almost 25-30 kind of P/E on one year.

Sea TV Network IPO opened for subscription

IPO of Sea TV Network is opened for subscription with a price tag at Rs 90-100 a share which closes on September 29, 2010. The company located in Agra provides service of Multi System Operator(MSO) to cable TV operators in the city expects to increase Rs 50.2 via this issue.

Nirmal Bang recommends to Ashoka Buildcon IPO

Nirmal Bang recommends to subscribe for Ashoka Buildcon's IPO which closes in September 28. The company expects to increase Rs 225 crore via this issue with a price tag at Rs 297 and Rs 324 a share which is subscribed completely as per NSE website.

USFDA approves HIV treatment capsules of Matrix Laboratories

The United States Food and Drug Administration (USFDA) have finally given permission to Matrix Laboratories for an atazanavir sulfate capsules. The atazanavir sulfate capsules are mainly used in treatment of HIV infection says the drug regulator.

Indian airline companies must post $400 million loss says IATA

Giovanni Bisignani IATA executive wants Indian airline companies to post combined loss of $400 million in 2010. IATA which holds 80% of world carriers said the global airlines has increased its forecast for industry profits this year and latest capacity can decrease profits as soon as 2011.

Improve infrastructure- attract foreign investment says Indra Nooyi

Chairman and Chief Executive of PepsiCo Inc Indra Nooyi says India to improve its infrastructure, work force and sanitation to pull more foreign investment for faster development. It is difficult to say anything about India as she has one foot there and one foot here says Nooyi.

CCL Products expects to become debt free and increase turnover

The executive director of CCL Products C Srishant said they plan to introduce a new retail brand in Indian domestic market by year-end after expecting to become a debt free company by next year. The company also looks to increase their turnover by 15% in FY11.

EDCL to improve 516MW of power in Arunachal Pradesh

Energy Development Company Ltd(EDCL) has made deal with government of Arunachal Pradesh to work on seven hydroelectric power projects. Now total capacity of the company is 270 MW which they will increase to 373 MW. EDCL plans to develop 143 MW of power with other projects in the state.

IIFL recommends to subscribe for OGPL IPO

IIFL has advised to subscribe for Orient Green Power Company (OGPL) IPO which ends today. The Indian renewable energy-based power generation company OGPL expects to accrue Rs 900 crore through its public issue which has a price tag at Rs 47-55 a share.

BSE Sensex slips 0.4% marking two consecutive days of lackluster trading

The BSE 30-share Sensex was down 80.71 points or 0.4% to 19,861.01. The Sensex gained 56.60 points at the day's high of 19,998.32, in early trade. The index lost 170.09 points at the day's low of 19,771.63 in mid-afternoon trade.

The S&P CNX Nifty was down 31.45 points or 0.52% to 5,959.55. Nifty struck a high of 6,006.80 in early trade.

The BSE Mid-Cap index fell 0.21%. The BSE Small-Cap index rose 0.07%. Both the indices outperformed the Sensex.

BSE clocked turnover of Rs 4566 crore lower than Rs 5240.72 crore on Wednesday, 22 September 2010.

Market Breadth:

Positive 1419 Negative 1584 Unchanged 78
From the 30 share Sensex pack, 17 fell and rest rose.

Ramky Infra opens its IPO at Rs 530 crore for subscription

Ramky Infrastructure has opened its Rs 530 crore initial public offer for subscription with a price tag at Rs 405-468 a share. The issue contains issuing of fresh equity shares amounting around Rs 350 crore and an offer for sale of around Rs 180 crore.

India Capital Markets says VA Tech IPO good for long term view

India Capital Markets has informed to subscribe for VA Tech Wabag IPO of Rs 475 crore with price tag at Rs 1,230-1,310 a share. The issue having fresh issue of Rs 125 crore and offer for sale of Rs 350 crore expected good for long term positive outlook on water treatment industry.

CRIL IPO opened for subscription

Cantabil Retail India (CRIL) IPO of Rs 105 crore is opened for subscription with a price tag at Rs 127-135 per share. Cantabil has a network of 411 exclusive retail outlets in India and provides designing, manufacturing, branding and retailing of apparels under CANTABIL and La FANSO name.

Subscribe to Tecpro Systems IPO says Hem Securities

Hem Securities recommends subscribing IPO of Tecpro Systems offering 75.5 lakh shares via this issue with price tag at Rs 340-355 a share. The issue ends subscription for QIB bidders in September 27 and non-QIB bidders in September 28. Bids start from minimum 15 equity shares, in multiples thereafter.

Tecpro Systems IPO opened for subscription from today

Vice Chairman and Managing DIrector of Tecpro Systems, Amul Gabrani, said the company opened its IPO for subscription from today offering 75.5 lakh shares via this issue with a price tag at Rs 340-355 a share. He also added current situation in the company and sector.

IPO price tag at Rs 95-102 per share says Bedmutha Industries

IPO of Bedmutha Industries which is Rs 918 million has been fixed a price tag at Rs 95-102. The issue opens from September 28 and ends in October 1 having 9 million shares on offer aggregating around 42.80% of the equity.

BSE Sensex dips 0.3% as realty, IT lead market slump

The BSE 30-share Sensex was down 59.83 points or 0.3% to 19,941.72. The Sensex gained 103.99 points at the day's high of 20,105.54, its highest level since 15 January 2008, in early trade. The index lost 197.53 points at the day's low of 19,804.02 in mid-afternoon trade.

The S&P CNX Nifty was down 18.05 points or 0.3% to 5,991. Nifty struck a high of 6,037.40 in early trade, its highest level since 16 January 2008.

The total turnover on BSE amounted to Rs 5211 crore lower than Rs 5431.78 crore on Tuesday, 21 September 2010.

The BSE Mid-Cap index fell 0.37% and underperformed the Sensex. The BSE Small-Cap index fell 0.22% and outperformed the Sensex.

The BSE Consumer Durables index (up 0.99%), BSE Banking index Bankex (up 0.42%), BSE FMCG index (up 0.21%), BSE Auto index (up 0.08%), BSE Metal index (up 0.06%), BSE Power index (up 0.02%), BSE PSU index (down 0.06%), BSE Healthcare index (down 0.25%) outperformed the Sensex.

The BSE Realty index (down 1.6%), BSE IT index (down 1.33%), BSE Oil & Gas index (down 1.03%) and BSE Capital goods index (down 0.94%) and underperformed the Sensex.

Market Breadth:

Positive 1115 Negative 1869 Unchanged 96
From the 30 share Sensex pack, 15 fell and rest rose.

Mirc Electronics enters into lighting space

Mirc Electronics plans to enter into lighting space and expect to accumulate Rs 40-50 crore from this business. The company entered LED lightning space to expand itself and also introduced rural Brand Igo for solar and mechanical based productions.

J Kumar Infra order book to increase by Rs 2,500 crore

Executive Director of J Kumar Infraprojects, Nalin Jagdish Kumar, said an order book of the company will increase to Rs 2,300-2,500 crore by year end. The company also has advancing plans for FY11 to raise their order book, he added. J Kumar Infraprojects expect to accumulate revenues between Rs 1,000-1,025 crore.

BOD meeting in September 27 says State Bank of Bikaner and Jaipur

The Board of Directors meeting of State Bank of Bikaner and Jaipur has been fixed to be held on September 27, 2010. The company also informed to BSE about their decision made to acknowledge the announcement of Interim Dividend 2010.

Technical snag stops a unit of Gujarat Industries

One of the units of Gujarat Industries with 125 MW lignite-based power plant has stopped generating electricity due to technical snag in a boiler at surat. The company has appointed its current contractor for continuing the work which is expected to complete within 30 days.

KR Choksey recommends IPO of Ramky Infrastructure

KR Choksey has announced to subscribe for Ramky Infrastructure IPO which opened with Rs 530 crore with a price tag of Rs 405-468 a share. The issue includes fresh equity shares amounting up to Rs 350 crore and an offer for sale amounting up to Rs 180 crore.

Gupta Equities says to subscribe for OGPL IPO

Gupta Equities has said the IPO of Orient Green Power Company (OGPL) which has opened for subscription is an attractive investment. The company plans to accrue Rs 900 crore from its public issue which has a price tag of Rs 47-55 a share.

Gallant Ispat announces its IPO

Gallant Ispat has announced its IPO in order to accrue Rs 40.5 crore after Sensex and Nifty saw new improvements. The company announced its IPO price at Rs 50 a share which closes in September 24. IPO market is having a busy week which has made the listing to come out.

Electrosteel Steels offers 22,55,16,188 equity shares

Regional Director Finance of Electrosteel Steels, Ashutosh Agarwal said the company has offered 22,55,16,188 equity shares via public issue which has a price tag at Rs 10-11 every share and the issue ends in September 24. He also added current happenings in the company and sector.

IPO of VA Tech Wabag opens for subscription

VA Tech Wabag opens IPO of Rs 475 crore for subscription with price tag at Rs 1,230-1,310 every share. The issue includes fresh issue of Rs 125 crore and offer for sale of Rs 350 crore. This offer for qualified institutional investors ends in September 24, for retail & non-institutional investors in September 27.

Dividend announced at Rs 2.70 per unit by Religare Enterprises

Dividend of Religare Enterprises Ltd has been announced at Rs 2.70 per unit under Religare Mid Cap Fund. The company has informed to BSE regarding this matter after its press release on September 22, 2010 containing all the details of the dividend.

R&D; facility introduced in India says Nestle SA

Nestle SA with initial investment of 30-40 million Swiss Francs has introduced a global research and development facility in India. The company will consider more investment plans within two months as they have strong product pipeline in future, said its MD and Chairman Antonio Helio Waszyk.

Oswal Chemicals to start Rs 7,000 crore plant

Oswal Chemicals to set up a plant worth Rs 7,000 crore in Andhra Pradesh. The chairman of the company is meeting Chief Minister of the state to get approval for its demand of 500 acre land for gas allocation.

BSE Sensex climbs 0.48% but market in downturn

The BSE 30-share Sensex rose 95.45 points or 0.48% to 20,001.55 its highest closing level since 15 January 2008. The Sensex gained 182.86 points at the day's high of 20,088.96. The index lost 45.22 points at the day's low of 19,860.88 in mid-morning trade.

The S&P CNX Nifty was up 28.60 points or 0.48% to 6,009.05, its highest closing level since 15 January 200. Nifty struck a high of 6,032.80 in early trade.

The total turnover on BSE amounted to Rs 5402 crore higher than Rs 5229.41 crore on Monday, 21 September 2010.

The BSE Mid-Cap index fell 0.98% and the BSE Small-Cap index fell 1.34%. Both these indices underperformed the Sensex.

The BSE IT index (up 2.43%), BSE Capital goods index (up 1.12%) and Healthcare index (up 1.05%) outperformed the Sensex.

The BSE FMCG index (down 1.34%), BSE Realty index (down 1.3%), BSE Consumer Durables index (down 0.67%), BSE Metal index (down 0.57%), BSE Oil & Gas index (down 0.47%), BSE PSU index (down 0.26%), BSE Banking index Bankex (down 0.06%), BSE Auto index (up 0.11%) and BSE Power index (up 0.44%) underperformed the Sensex.

Market Breadth:

Positive 903 Negative 2182 Unchanged 76
From the 30 share Sensex pack, 16 fell and rest rose.

Suven Life Sciences receives US patents for its two NCEs

Suven Life Sciences has received US patents for its two new chemical entities (NCEs) increasing its shares to more than 11%. The two NCEs which are estimated around $30 billion in global market is used in the treatment of disorders like neuro-degenerative diseases and valid till 2022.

BHEL acquires a deal worth $583 million

Bharat Heavy Electricals Ltd (BHEL) has received a deal worth $583 million to set up 1,200 megawatts coal-fired power plant at Chhattisgarh in central India. The deal also includes designing and supplying the boilers, steam turbines and generators for the project.

Bajaj increased its presence in two-wheeler market

Honda expects to reduce its 26% stake from 26 year-old JV with Hero Group and a rumor says that they may completely exit from merger. Bajaj Auto increased its presence in the two-wheeler market and greater competitive activity is expected if Honda exits merger, said Managing Director Rajiv Bajaj.

SEBI doubtful to push Vedanta to increase Cairn India offer price

Securities and Exchange Board of India (SEBI) is doubtful to push Vedanta to increase Cairn India’s open offer price. SEBI noticed Vedanta’s open offer for Cairn India is set at Rs 355 per share including Rs 50 per share to be paid as non-compete fee to Cairn.

May accrue Rs 2700 crore through rights issue says Central Bank

Central Bank of India expects to accrue Rs 2700 crore through rights issue given by SBI Caps, IDBI Caps, ICICI Securities, Royal Bank of Scotland (RBS) and Citi Bank by the end of this year. The issue will improve bank’s tier capital to 8% which is 6.61% at present.

Venkys India enters Dhaka with poultry product

Venkys India is having a good time in the poultry product segment as their recent expansion program showed an estimated cost at Rs 50 crore. They planned to introduce in Dhaka, Bangladesh and it is completely about poultry having investment of Rs 100 crore says B Venkatesh Rao, joint Managing Director.

Steel Secretary's MMDR Act to stop illegal mining

Pradeep Kumar Misra, Steel Secretary, says newly proposed Mines and Mineral Development and Regulation Act (MMDR) will help to stop illegal mining even though many mining companies have opposed this act the government thinks it is a beneficiary move for the sector and will take time to settle.

CSS Corp to introduce its IPO in India

CSS Corp expects to introduce IPO in India but yet to fix time frame for it, we can list in US, London but have selected India says its CEO Nick Sharma. CSS Corp has revenue of $135 million and anything above $100 million will be fine to start IPO.

Coal India IPO expected by next month

IPO of Coal India is expected to open by next month after IPO of Eros International and Microsec which was opened for subscription. Eros International and Microsec IPO expected to be subscribed heavily seeing listing gains and Eros International alone expects 25% listing gains.

OGPL expects to increase Rs 900 crore via public issue

The vice chairman and executive director of Orient Green Power Company (OGPL) expects to increase Rs 900 crore through public issue which has a price tag of Rs.47-55 per share. He also spoke about the company’s plans about the issue and their future plans.

Ramky Infrastructure IPO is best for long term says Angel Broking

Ramky Infrastructure opened its IPO for subscription at Rs 530 crore, the issue is best for long term view says Angel Broking. The company which is into business of construction and infrastructure development has price tag for its issue from Rs 405-468 per equity share that ends in September 23.

KR Choksey says to subscribe for OGPL IPO K

KR Choksey has advised to apply for Orient Green Power Company (OGPL) IPO opened for subscription which has an investment horizon of 2-3 years. The company plans to increase Rs 900 crore through this issue with a price tag of Rs 47-55 a share.

BSE Sensex skyrockets 1.59% as market continues rally streak

The BSE 30-share Sensex was up 311.35 points or 1.59% to 19,906.10 its highest closing level since 15 January 2008. The Sensex gained 332.55 points at the day's high of 19,927.30, in late trade. The index lost 149.33 points at the day's low of 19,445.42 in early trade.

The S&P CNX Nifty was up 95.50 points or 1.62% to 5,980.45, its highest closing level since 15 January 2008. Nifty struck a high of 5,989.50 in late trade.

The total turnover on BSE amounted to Rs 5187 crore higher compared with Rs 4987.76 crore on Friday, 17 September 2010.

The BSE Mid-Cap index rose 0.66% and the BSE Small-Cap index gained 0.74%. Both these indices underperformed the Sensex.

The BSE FMCG index (up 3.5%) and the BSE Realty index (up 1.73%) outperformed the Sensex.
The BSE Power index (up 0.32%), BSE PSU index (up 0.55%), BSE Healthcare index (up 0.59%), BSE IT index (up 0.59%), BSE Consumer Durables index (up 0.69%), Banking index Bankex (up 1.1%), BSE Oil & Gas index (up 1.13%), BSE Capital goods index (up 1.22%), BSE Metal index (up 1.28%) and BSE Auto index (up 1.31%) underperformed the Sensex.

Market Breadth:

Positive 1789 Negative 1219 Unchanged 96
From the 30 share Sensex pack, 25 rose and rest fell.

KSK Energy adds $3.6 billion in 3,600 mw power project

KSK Power Ventur Plc added $3.6 billion in loans and equity for a thermal power project of 3,600 megawatt in central India. KSK Energy Ventures Ltd shares which started civil work on the complex in the state of Chhattisgarh has increased about 6.7%.

Core Projects obtained two US firms for $20 million

Core Projects Technologies Ltd has obtained two US firms for $20 million and plans one more acquisition in UK after its shares went to highest level in 33 months. The company obtained Technical Systems Integrators-education solutions firm in Georgia and Keenan & Keenan Group-education consulting company in New York.

Religare Mutual Fund maiden dividend fixed at 27%

Religare Mutual Fund fixed its maiden dividend at 27% (Rs 2.70 per unit on face value of Rs 10) in Religare Mid Cap Fund and record date is September 24. Investors registered under this option of the scheme will get dividend. NAV under this scheme was Rs 15.71 as in September 17.

Dividend announced at 10% by Tata Mutual Fund

Dividend of Tata Mutual Fund announced at 10% (Rs 1 per unit on face value of Rs 10) in Tata Equity Management Fund and record date set as September 24. Investors registered under this option of the scheme will get dividend. NAV under this scheme was Rs 14.456 as in September 17.

Dividend of Franklin Templeton MF announed at 6%

Maiden dividend of Franklin Templeton MF is announced at 6% (Rs 0.6/unit on face value of Rs 10) in Franklin India High Growth Companies Fund and Franklin Build India Fund. Investors registered under this scheme will get dividends. NAV of the scheme as in September 17 was Rs 13.93 and Rs 13.275.

Fixed IPO price tag at Rs 297-324 per share says Ashoka Buildcon

Ashoka Buildcon fixed a price tag at Rs 297-324 a share for its initial public offer (IPO). The company that builds and operates roads & bridges expects to accrue Rs 225 crore via this issue that opens for subscription in September 24 and ends in September 28.

Tecpro Systems fixed IPO price tag at Rs 340-355 per share

Tecpro Systems IPO of 75.5 lakh equity shares has set a price tag at Rs 340-355 per share which is opens on September 23, 2010. It also contains a fresh issue of around 62.5 lakh equity shares and an offer sale around 13 lakh shares by Metmin Investments Holdings Ltd.

IPO price tag of VA Tech Wabag fixed at Rs 1,230-1,310 per share

VA Tech Wabag's IPO of Rs 4.72 billion has been fixed a price tag at Rs 1,230-1,310 a share which opens on Wednesday and closes on Friday. Book for anchor investors are expected to open on Tuesday. Bidding may be extended with one more day for retail investors.

Rs 250 crore to be accrued through IPO says Electrosteel Steels

Electrosteel Steels expects to increase around Rs 250 crore via an initial public offering (IPO) of 225.52 million shares or 11.08% of the company's total equity. This issue also expected to contain a green-shoe option of up to 33.8 million shares.

Aditya Birla Money says to stay away from Microsec Financial IPO

Aditya Birla Money says to avoid Microsec Financial Service IPO which was subscribed two times till now and closes on September 21. They offer 1.25 crore equity shares via this issue comprising 39.30% of post issue paid up capital of the company, price tag set at Rs 113-118 per share.

Swastika says Eros useful in portfolio for long term target

Eros International Media (EIML) opens its IPO for subscription that closes in September 21. Eros is useful for keeping in one’s portfolio for long term target of Rs 250-260 says Swastika Investmart. EIML also plans to accrue Rs 350 crore via this issue with a price tag at Rs 158-175 per share.

Career Point IPO can be subscribed says Brokerage and experts

Career Point Infosystems expects to increase Rs 115 crore through an IPO which closes for subscription on September 21 that has a price tag at Rs 295-310 a share. Brokerage houses and other experts support this issue including Investment Advisor SP Tulsian and Manish Bhatt of Prabhudas Lilladher.

BSE Sensex leaps 0.91% as market recovers from downturn

The BSE 30-share Sensex jumped 177.26 points or 0.91% to 19,594.75, its highest closing level since 17 January 2008. The Sensex jumped 221.69 points at the day's high of 19,639.18 in early trade. The index rose 19.22 points at the day's low of 19,436.71 in early trade.

The S&P CNX Nifty jumped 56.25 points or 0.97% to 5,884.95, its highest closing level since 17 January 2008. Nifty struck an intra-day high of 5,898.40 in early trade.

Indian stocks had snapped a seven-day rally on Thursday, 16 September 2010, on profit booking and on negative global cues.

The total turnover on BSE amounted to Rs 4949 crore, lower than Thursday's Rs 5264.11 crore
The BSE Mid-Cap index rose 1.43% to 8,104.28 and the BSE Small-Cap index gained 0.93% to 10,238.91. Both these indices outperformed the Sensex.

The BSE Consumer Durables index (up 2.1%), the BSE Healthcare index (up 2.05%), and the BSE Oil & Gas index (up 1.78%), outperformed the Sensex. The BSE IT index (up 0.53%), the BSE Power index (up 0.27%), and the BSE PSU index (up 0.23%), underperformed the Sensex. NTPC (down 0.70%), and Bhel (down 0.36%), edged lower from the Sensex pack.

Market Breadth:

Positive 1846 Negative 1200 Unchanged 99
From the 30 share Sensex pack, 24 rose and rest fell.

DLF plans for its first commercial project with Rs 1500 crore

DLF expects to introduce its first commercial project amounting to Rs 1,500 crore shortly in Gurgaon. The project will contain total saleable area of 1.2 m sqft with minimum booking space expected to be 15,000 sqft and will be sold at Rs 13,500 per square foot excluding parking.

Plan to introduce Rs 75 cr as CDR portion says IVL

Indage Vintners (IVL) has settled with creditors for a corporate debt restructuring plan and they will soon reach high court for approval. The promoters will introduce Rs 75 crore via combination of asset sale and issuance of fresh equity during 2011-2012 and expected to receive Rs 49 crore.

NTPC plans to produce coal from mine

NTPC Ltd plans to make coal from its captive mine at Jharkhand in 2011-12. Arup Roy Choudhury, chairman of the company said they have received environment clearance and expect to produce coal from Pakri Barwadhi at Jharkhand in the next financial year.

Draft mining bill has been approved by GoM

The draft mining bill received approval on Friday from GoM-group of ministers lead by Finance Minister Pranab Mukherjee. The bill which says miner’s share 26% of their profit with locals will be released in winter session of Parliament for replacing Mines and Mineral Development and Regulation Act, 1957.

Kalindee Rail received Rs 46.92 crore order from Indian Railways

The government have issued orders worth Rs 4,000 crore for Private railway companies. An order for manufacturing 22,180 wagons has been issued by the railway recently which is most successive acquisition plan in five years. Kalindee Rail Nirman has obtained orders valued at Rs 46.92 crore from Indian Railways.

FPO subscribed 1.11 times says Tirupati Inks

FPO of Tirupati Inks has been subscribed 1.11 times for its 3,41,3780 shares and qualified institutional bidders part was subscribed by 1.86 times which got relevance for 86,61,000 shares. The offer is open for subscription for retail investors and other categories till Friday and closed for QIBs on Thursday.

Orient Green Power fixed its IPO price at Rs 47-55 per share

Orient Green Power Company (OGPL) for its Rs 900 crore initial public offering has announced the price tag at Rs 47-55 per share that opens from September 21, 2010. Shriram EPC controls 35.8% stake in this company and balance stake is controlled by Bessemer Venture Partners and Olympus Capital.

IPO has been subscribed completely says Microsec Financial

Microsec Financial IPO has been subscribed completely during its first couple of hours after it was opened. The company provides 1.25 crore equity shares via this issue aggregating 39.30% of the post issue paid up capital of the company.

ElectroSteel IPO price tag announced at Rs 10-11 per share

ElectroSteel Integrated announced its public issue of 22,55,16,188 equity shares price tag at Rs 10-11 per share that opens on September 21, 2010. A Green Shoe Option upto 3,38,27,428 equity shares is also available and bids starts at minimum of 600 equity shares, after that 600 equity shares in multiples.

IPO price tag of Cantabil Retail set at Rs 127-135

The IPO price tag of Cantabil Retail India Ltd has been set at Rs 127-135 per share to accrue Rs 1.05 billion. The Apparel maker has 381 retail outlets in India which provides business of designing, manufacturing and retailing of readymade garments and accessories.

PINC Research recommends subscribing EIML's IPO

Eros International Media (EIML) IPO is opened for subscription and PINC Research has advised to subscribe the issue in its report. The company expects to increase Rs 350 crore via this issue with a price tag at Rs 158-175 per equity share that ends on September 21, 2010.

IPO plans on hold says Emaar MGF

Emmar MFG has decided to hold its IPO plans taking it closer to March. The company said it has no requirement for funds as its debt is down by 25% which is Rs 4,500 crore and the cash flow stayed at around Rs 2,500 crore last year.

BSE Sensex drops 0.43% as market rally streak halted

The BSE 30-share Sensex was down 84.62 points or 0.43% to 19,417.49. The Sensex rose 134.55 points at the day's high of 19,636.66 in afternoon trade, its highest level since 18 January 2008. The index fell 118.65 points at the day's low of 19,383.46 in late trade.

The S&P CNX Nifty was down 32.25 points or 0.55% to 5,828.70. Nifty struck a high of 5,901.65 in afternoon trade, its highest level since 18 January 2008.

The BSE Mid-Cap index fell 0.97% and underperformed the Sensex. The BSE Small-Cap index fell 0.41% and outperformed the Sensex.

BSE Realty index (up 1.22%), banking sector index Bankex (up 0.59%), Capital Goods index (up 0.37%), FMCG index (up 0.23%), Power index (down 0.39%), outperformed the Sensex.

BSE IT index (down 2.29%), Metal index (down 1.5 %), Oil & Gas index (down 1%), Consumer Durables index (down 0.73%), PSU index (down 0.59%), Healthcare index (down 0.45%) and Auto index (down 0.45%) underperformed the Sensex.

Market Breadth:

Positive 1076 Negative 1906 Unchanged 104
From the 30 share Sensex pack, 19 fell and rest rose.

China's ZTE finalized a deal with Reliance Communications

China's ZTE Corp got a deal to supply telecoms equipment to Reliance Communications which is No.2 mobile operator in India. India previously barred few mobile phone operators from placing orders with Huawei and ZTE doubting it may contain spying technology embedded to record sensitive conversations and government communications.

JPMorgan and UBS hired to accrue $250 million by S Kumars

S Kumars Nationwide has acquired seven banks including JPMorgan and UBS AG to accrue $250 million via an IPO from one of its units. Reid & Taylor 75% controlled by S Kumars and balance by GIC file's initial papers in 10 days with Indian market regulator for share sale.

Madhucon Projects AP power unit completes financial closure

Simhapuri Energy Private Limited (SEPL) a subsidy of Madhucon Projects completed financial closure for Phase II of its 300mw power plant. SEPL has 1,920 megawatt coal based power plant in AP. The project's phase I is running good and may commission the plant by March-April 2011 says S. Vaikuntanathan, the firm's Director Finance.

Dividend announced at 150% by Ravalgaon Sugar Farm

The dividend of Ravalgaon Sugar Farm Ltd has been announced at 150% which is about Rs 75/- per Equity Share of Rs 50/- each. The company informed the matter to BSE after its Board of Directors meeting conducted on July 27, 2010.

Syncom Healthcare plans to use GDR proceeds on biz widening

Syncom Healthcare has accrued almost Rs 95 crore through global depositary receipt or GDR route. The firm added a 45 lakh GDRs at $4.61 per GDR with total amounting to $20.74 million or around Rs 95 crore. The company having big expansion plans will use funds to set up ultra-modern manufacturing facility.

M&M; says increased rate a worry-free

RBI's Monetary Policy Review increased repo rate by 25 bps to 6% and reverse repo rate by further 50 bps to 5% which could be a worry. But M&M Pres-Automotive Pawan Goenka said increased cost may be watched by customers and sales will not be hit during festive season.

Vedanta deal to be finalized by end-2010 says Cairn India

Cairn India expects to complete the deal of controlling stake in London-based Vedanta Resources by end-2010, said the company’s chairman. This is Vedanta's first try at energy sector in which it is buying a controlling stake in Cairn Energy to obtain a rising energy demand.

HDIL accrues $250 million via QIP

According to the Managing Director of Housing Development and Infrastructure (HDIL), Sarang Wadhawan, they have accrued $250 million through a qualified institutional placement (QIP). The firm has aimed to use QIP for a slum improvement venture.

Six merchant bankers selected for SAI's FPO

Steel Authority of India (SAIL) has selected six merchant bankers to control its companies first phase in next follow-on public offer (FPO). SAIL Chairman CS Verma confirmed saying JP Mogran Bank, Deutsche Bank, SBI Capital, Enam Securities, Kotak Mahindra Capital and HSBC are among the selected bankers.

Career Point Info expects to increase Rs 115 via IPO

Chairman and CEO of Career Point Infosystems, Pramod Maheshwari, said their company which gives tutorial services to post high school students has opened its initial public offering (IPO) from today and they also expect to accrue Rs 115 crore through this issue.

IPO set at Rs 405-468 per share says Ramky Infra

Ramky Infrastructure has announced its IPO of equity shares Rs 10 each for cash at price to be determined via 100% book building process amounting to Rs 530 crore. The issue starts from September 21 has fresh equity shares amounting to Rs 350 crore and sale of equity shares Rs 180 crore.

BSE Sensex rises 0.8% as almost all sectors surge but auto

The BSE 30-share Sensex jumped 155.05 points or 0.8% to 19,502.11, its highest closing level since 17 January 2008. The index rose 207.54 at the day's high of 19,554.50 in mid-morning trade. The index fell 5.97 points at the day's low of 19,340.99 in early trade.

The S&P CNX Nifty jumped 65.40 points or 1.13% at 5,860.95, its highest closing level since 17 January 2008. The index hit high of 5,869 in mid-morning trade.

The BSE Mid-Cap index rose 0.08%. The BSE Small-Cap index fell 0.09%. Both these indices underperformed the Sensex.

Except the BSE Auto index, all the other sectoral indices on BSE rose. The BSE IT index (up 2.49%), BSE Oil & Gas index (up 1.85%), and Metal index (up 0.95%), outperformed the Sensex. The BSE FMCG index (up 0.48%), Consumer Durables index (up 0.4%), Realty index (up 0.37%), banking sector index Bankex (up 0.34%), PSU index (up 0.32%), Power index (up 0.24%), Healthcare index (up 0.24%), Capital Goods index (up 0.05%), and Auto index (down 0.24%), underperformed the Sensex.

The BSE clocked turnover of Rs 5230 crore, lower than Rs 5452.82 on Tuesday, 14 September 2010.

Market Breadth:

Positive 1718 Negative 1269 Unchanged 103
From the 30 share Sensex pack, 17 rose and rest fell.

Dividend announced at Rs 0.10 per share by Naval Technoplast Industries

The dividend of Naval Technoplast Industries Ltd has been announced at Rs 0.10 per share on Equity Shares for the financial year March 31, 2010. The company informed to BSE after finalizing this in a BOD meeting conducted on August 31, 2010.

Stock split from Rs 10-1 agreed by Global Capital Markets

Global Capital Markets Ltd has approved and informed BSE that a Sub-division of Equity shares of companies face value of Rs 10 each to face value of Re 1/ each and secondly to modify Capital Clause of Memorandum of Association & Articles of Association resulting in split value of Equity Shares.

Nu Tek expects 30-35% revenue growth in 3G and WiMax

Nu Tek India expects an increased visibility from 3G and WiMax business with 30-35% growth in revenue in it. The company views at asset ownership of developing network infrastructure and leasing it out to operators via joint venture. They increased $29 million through GDR recently expecting organic growth.

A panel of two directors set by Cairn India

Cairn India has organized a panel consisting of two independent directors namely Omkar Goswami and Edward Story neither belonging to Cairn India or Vedanta for taking care of minority shareholders interests as a part of the company acquired by Vedanta Resources.

ISP may be demerged says Southern Online

Southern Online Bio Tech, merger between Hyderabad-based Internet services provider, and biodiesel manufacturer started production in its second unit. N.Satish Kumar said units first quarter provided Rs 10 crore and already started selling biodiesel in domestic market. The company expects Rs 100 crore of total revenue, 40% expected from export orders.

RBI issues 'Semi-closed wallet' to Bharti Airtel

RBI has issued 'Semi-closed wallet' to Bharti Airtel making it first telecom operator to get it. The license was issued 45days back permitting users to pay for merchandise using mobile phones. CEO of Bharti Airtel, Sanjay Kapoor confirmed saying they are in middle of adding plans together for action.

Forrester says IT firms can manage increased visa cost

Forrester thinks real problem for Indian IT industry is managing increased costs and not making high value work. IT industry’s clients still cautious on finances, hiring and doesn’t want to take increased costs from companies, they must concentrate on non-linearity for managing costs, says John McCarthy from Forrester.

SBI Mutual Funds into banking, engineering, media, left metal, IT

SBI Mutual Funds to increase its role in banking & financial services, engineering & capital goods, media & entertainment sectors and decrease in metals & mining, IT, utilities sectors. Top buys were Jagran Prakashan, KCP, Karnataka Bank and top sells Cairn India, Steel Authority of India, IBN18 Broadcast.

Microsec Financial Services to accrue Rs 1.47 billion through IPO

Microsec Financial Services expects to accrue almost Rs 1.47 billion via initial share sale to capitalize their expansion plans. The company will sell 12.5 million shares with the price tag of Rs 113-118 per share. The offer comprises 39.30% of share capital after equity issue.

IPO price at Rs 158-175/ equity share says Eros International Media

The IPO of Eros International Media announced at Rs 10 per equity share from September 17 and cash at price mentioned a 100% book building process amounting Rs 350 crore. The price tag fixed from Rs 158-175 per equity share, bids can be made at 40 equity shares and in multiples thereafter.

IPO of Indosolar subscribed fully but with slow response

The Indosolar IPO has been subscribed fully with a slow response from its investors. The company plans to accrue Rs 357 crore through this issue and expected to use for expansion of annual manufacturing capacity for SPV cells. The price tag was fixed at Rs 29-32 per equity share.

Plan to accrue Rs 60 crore through IPO says Servalakshmi Paper

Servalakshmi Paper has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for an IPO. The company plans to enter into capital markets by increasing equity shares amounting Rs 60 crore through an IPO by 100% book building process.

Ispat lenders expects to sell to Tata Steel and ArcelorMittal

Ispat lenders including ICICI, IDBI Bank expect to sell their holding in steelmaker to Tata Steel and ArcelorMittal. About 15 lenders accessing $1.4 billion and debt restructuring approved by Ispat shareholders gave options for lenders to change part of loan to increase their equity holding from 10.9-31 percent.

An order worth 50 megawatt received by Suzlon Energy

Suzlon Energy Ltd has received an order worth 50 megawatt from Chinese Power Producer. The agreement consists of 24 units of Suzlon S88(LTV-50Hz) turbines with 2.1 MW each. This was informed to BSE and turbines planned to be delivered in October-December, 2010 in an unknown area of Inner Mongolia.

AK Purwar says banking sector expected to have bright future

Bankex is presently trading at all time high of 13454 gaining 51% in 1yr. The Indian economy expected to improve by 13-14% over FY10-11 and loan growth by 19-20% over FY10-12. The Industry Expert AK Purwar said, the banking sector expected to have a bright future.

$250 million accrued by selling shares says HDIL

Housing Development and Infrastructure (HDIL) has accrued $250 million during a share sale to qualified institutional investors. The share sale received a huge response from the overseas institutional investors after it was introduced on Monday by the HDIL.

Pranab Mukherjee said inflationary pressures remains

Finance Minister of India Pranab Mukherjee said the Inflationary pressures in India stays and the RBI will take necessary steps at the right time. The government has said wholesale price index in India is increased by an annual 8.5% in August.

Dividend announced at 20% by Sanwaria Agro Oils

The dividend of Sanwaria Agro Oils Ltd to its Equity Shareholders has been announced at 20% which is Re. 0.20 per share for declaration of the same in the Companies next Annual General Meeting. This was informed to BSE after the BOD meeting held on September 14, 2010.

BSE Sensex climbs 0.72% as almost every sector advances

The BSE 30-share Sensex was up 138.63 points or 0.72% to 19,346.96, its highest closing level since 17 January 2008. The index rose 278.69 points at the day's high of 19,487.02 in morning trade. The index rose 9.80 points at the day's low of 19218.13 in early trade.

The S&P CNX Nifty was up 35.55 points or 0.62% at 5,795.55, its highest closing level since 17 January 2008. The index hit high of 5,838.45, in morning trade.

The BSE Mid-Cap index fell 0.63%. The BSE Small-Cap index fell 0.75%. Both the indices underperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Consumer Durables index (up 1.56%), IT index (up 1.45%) and Auto index (up 1.37%), outperformed the Sensex. The BSE Capital Goods index (up 0.56%), banking sector index Bankex (up 0.52%), PSU index (up 0.37%), FMCG index (up 0.37%), Oil & Gas index (up 0.24%), Power index (down 0.11%), Realty index (down 0.39%) and Metal index (down 0.53%), underperformed the Sensex. The BSE Healthcare index was unchanged for the day, underperforming the Sensex which rose 0.72%.

BSE clocked turnover of Rs 5429 crore, higher than Rs 4974.18 crore on Monday, 13 September 2010.

Market Breadth:

Positive 2033 Negative 984 Unchanged 81
From the 30 share Sensex pack, 20 rose and rest fell.

KEC International has acquired Jay Railway Signaling Pvt Ltd

KEC International Ltd has acquired Jay Railway Signaling Private Limited which is Railways Signaling Automation Systems & Technology Company. It involves three main factors like civil infrastructure and track works, railway electrification and signaling works. KEC has already electrified 5,000 km of railway tracks.

Proposal to acquire Metsys approved by Abb Ltd

The proposal for acquiring M/s. Metsys Engineering and Consultancy Private Limited (Metsys), Bangalore business with around 85 MINR has been approved by the BOD of Abb Limited and informed to Exchange. Metsys issues engineering services/consultancy and optimized solutions to OEMs/End customers especially in Metal industry.

$50 million accrued by selling shares says S Kumars

S Kumars has accrued $50 million by a sale of shares to institutional investors. The Indian textile firm's shares were sold at Rs 80 each and the sale price was set at a 5.2% discount to its Monday's closing of Rs 84.35.

Price tag of Career Point Infosystem announced at Rs 295-310 each share

The price tag of Career Point Infosystem was set at Rs 295-310 per share for its initial public offering. The firm expects to increase around 1.15 billion from the share sale which has Centrum Capital and J M Financial as book running lead managers for the issue.

Price tag of Microsec Financial's IPO set at Rs 113-118 per share

The price tag for Microsec Financial Services has been announced at Rs 113-118 per share for its IPO of 12.5 million shares. The company which is into broking and financial services expects to use the process to invest on its expansion plans.

Hem Securities says to stay away from Tirupati Inks IPO

The research firm Hem Securities has informed the investors to avoid the Tirupati Inks IPO due to its low profit margins and big debt problem does not interest the investment now. Tirupati Inks opens for subscription form September 14, 2010 with a follow-on public offer of Rs 51.5 crore.

ARSS Infrastructure acquires order worth Rs 93.72 crore from RSRDCC

ARSS Infrastructure Projects Ltd has said, they have acquired a new work order worth Rs 93.72 crore on September 07, 2010 from Rajasthan State Road Development & Construction Corporation Ltd (RSRDCC), Jaipur. This was informed to BSE after the company received its orders.

Added 2.1 million wireless users in Aug says Tata Teleservices

India's fourth-biggest mobile carrier, Tata Teleservices, has announced that they have included 2.1 million signed up wireless subscribers in August. Japan's NTT DoCoMo's which holds 26% in Tata Tele saw 76.9 million users during the end of August.

Aqua Logistics ready to acquire Star Distribution Logistics

Aqua Logistics declared that they have signed an agreement to acquire Star Distribution Logistics Pvt Ltd located in Chennai which has main involvement in Warehousing and Last Mile Distribution. Aqua Logistics expects to improve Distribution & Reverse Logistics capability and get new clients through this acquisition.

Rs 550 crore orders acquired by Kalpataru Power Transmission Ltd

Kalpataru Power Transmission Ltd has acquired three big orders worth Rs 550 crore from the Kenya Electricity Transmission Company Ltd (KETRACO) and the Parbati Koldam Transmission Company Ltd. The Kalpataru Power Transmission later had informed to BSE about receiving this huge order.

An order worth Rs 100 acquired by HCL Infosystems

HCL Infosystems has acquired an order worth Rs 100 crore and arose as a System Integrator from Power Reforms. This order was for the RAPDRP Project for HPSEB. This matter was informed to BSE after the Press Release on September 13, 2010.

Dividend announced at 5% on equity shares by Titan Biotech

Dividend of Titan Biotech has been announced at 5% on equity shares which is Rs 0.50 per share for 2009-10 to the company’s shareholders subject to shareholders announced dividend in AGM scheduled on September 30, 2010. This was informed to BSE after BOD meeting conducted on September 06, 2010.

MVL announced to divide its stock from Rs 2 to Re 1

MVL Ltd has announced a sub-division of face value of the equity shares of the Company which is currently Rs.2/ into two Shares of face value of Rs 1/- each. This was informed to BSE after the companies meeting conducted on September 13, 2010.

Top buys are media, metals says Franklin Templeton

Franklin Templeton Asset Management exposed itself in media & entertainment, metals & mining, utilities space and decreased in automotive, banking & financial services, IT space. The top buys were GVK Power & Infras, Unitech, IBN18 Broadcast and top sells were Bank of Rajasthan, Standard Chartered PLC, Cairn India.

Oil, auto increase as IT, pharma decrease says HDFC

HDFC Asset Management Fund increased its involvement in oil & gas, automotive and manufacturing sectors and decreased itself in information technology, engineering & capital goods, pharmaceuticals sectors. The top buys were Ballarpur Industries, Petronet LNG, Raymond and top sells were LIC Housing Finance, Punj Lloyd and Nagarjuna Construction.

Reliance Capital highest buys were Anant Raj Ind, Ranbaxy, Dish TV

Reliance Capital's top buys were Anant Raj Industries, Ranbaxy Laboratories, Dish TV and the companies Asset Management has raised its involvement in the oil & gas, automotive and pharmaceuticals sector and has decreased its involvement in cement & construction, engineering & capital goods and utilities space.

FPO from September 14 says Tirupati Inks

Tirupati Inks enter's capital markets through its FPO amounting to Rs 51.5 crore on September 14. The promoters issued Rs 11.51 crore ignoring net public offer of Rs 39.99 crore. Price tag was Rs 41-43/equity share of face value of Rs 10 each. QIB bidders issue ends in September 16 and others in September 17.

Anand Rathi says Indosolar IPO is best for long term

The Indosolar's IPO is open for subscription from today and it can be subscribed with long term perspective says Anand Rathi Share & Stock Brokers. The price tag for the issue was seen at Rs 29-32 per equity share and the company expects it to increase to Rs 357 through the issue.

BSE Sensex increases 2.17% as all sectors gain

The BSE 30-share Sensex was up 408.67 points or 2.17% to 19,208.33, its highest closing level since 17 January 2008. The index rose 443.78 points at the day's high of 19,243.44 in late trade. The index rose 45.65 points at the day's low of 18,845.31 in early trade.

The S&P CNX Nifty was up 119.95 points or 2.13% at 5,760, its highest closing level since 17 January 2008. The index hit high of 5,770.60 in late trade.

The BSE Mid-Cap index rose 0.77% and the BSE Small-Cap index rose 0.22%. Both these indices underperformed the Sensex.

All the sectoral indices on BSE rose. Banking sector index Bankex (up 3.62%), Oil & Gas index (up 2.57%), and Realty index (up 2.46%), outperformed the Sensex. Metal index (up 1.59%), PSU index (up 1.55%), Power index (up 1.34%), Healthcare index (up 1.02%), IT index (up 1.01%), Capital Goods index (up 0.85%), Consumer Durables index (up 0.76%), Auto index (up 0.63%) and FMCG index (up 0.48%), underperformed the Sensex.

The BSE clocked turnover of Rs 4947 crore, lower than Rs 5160.40 crore on Thursday, 9 September 2010. The stock market was closed on Friday, 10 September 2010, for a public holiday.

Market Breadth:

Positive 1518 Negative 1469 Unchanged 97
From the 30 share Sensex pack, 26 rose and rest fell.

Consortium of Alstom Projects obtains Rs 1470 crore order

In the latest development, according to Alstom Projects India Ltd, a consortium with alstom Transport SA, France obtained an order with a value of Rs 1470 crore in order to supply autos for Chennai Metro Rail. Moreover, the firm agreed to supply latest trains containing a signaling system for its automated operations.

Industrial output in July gets 13.8% rise year-on-year

According to the statistics released by the government, the industrial output of India last July increased 13.8%, which surpassed prediction of 7.89%, as compared to the same period last year. It is also better that the 7.1% recorded in June.

28 lakh shares of Gujarat Pipavav purchased by Credit Suisse

After the first day of listing, Gujarat Pipavav Port’s shares witnessed significant buying from stockholders wherein a share got a value of Rs 53.85 at the end of the session which is a premium of 17.07% above its Rs 46 issue price yesterday on NSE. Credit Suisse purchased 28 lakh shares at Rs 53.68 apiece.

Around $1 billion invested for ABB India: CEO of ABB

In a statement released by the Chief Executive Officer of ABB, Joe Hogan, he revealed that the firm already invested around USD 1 billion to establish ABB India, its domestic unit, having a goal of utilizing the new business unit as a manufacturing center.

Dividend announced at 1% by Sb&T; International Limited

The dividend of Sb&T International Limited has been announced at 1% which is Re 0.10 per fully paid up Equity Shares of Rs 10 each on company’s Paid-up Capital. This information was given to the Exchange after the Board of Directors meeting conducted on September 08, 2010.

BOD meeting to be held on September 13 says MVL Ltd

The Board of Directors meeting of MVL Ltd is planned to be conducted on September 13, 2010 and this was informed to BSE also. Among other things the company will acknowledge and consider issues relating to Stock split of the Company.

Financial closure of 1,320 MW project acquired by Lanco Infra

Lanco Infratech accomplished a financial closure of 1,320-MW power plant improved by a group firm in Orissa with a debt component of Rs 55.44 billion and equity component of Rs 13.86 billion. An association of 14 banks and others led by ICICI Bank has loaned this project.

Food inflation continued pressure on RBI

Food inflation in India, which increased in August continued pressure on RBI to tighten monetary policy further at its review next week. The data on weekly basis may boost estimation for 50 basis points in important policy rates by 2010 end, though signs of India’s growth reached highest point.

Marico Ltd expects to obtain Paras Pharma

Marico Ltd has shown interest in obtaining Ahmadabad based unlisted firm Paras Pharmaceuticals Ltd. Chaitanya Deshpande, head of administration, said the interest has just accrued and they are considering Paras Pharma. He assumes that it must attract all FMCG's.

Kotak Realty plans Rs 250 crore investment in Emaar MGF

Kotak Realty Fund has invested Rs 250 crore which is about $53.68 million in two projects of Emaar MGF. Director of Kotak Realty Fund V Hari Krishna said, the company will invest Rs 250 crore in Emmar MGF's residential project in Gurgaon.

Deutsche Bank estimates hike in food inflation

Taimur Baig of Deutsche Bank, Latha Venkatesh said food inflation showed an increase by 0.9% week-on-week. It can be unpredictable product although in August showed increase in food prices by 0.2%-0.5% depending on the week. This was a product which expected to fall this year due to good harvest.

Emami and Marico plan to purchase Paras Pharma

Emami Ltd and Marico Ltd expects to obtain unlisted company Paras Pharmaceuticals Ltd. Paras Pharma that has over-the-counter and personal care brands is open for acquire after two private equity firms holding majority stake expressed their interest in selling their stake for around $700 million.

Suven Life Sciences eyes for major sources

Suven Life Sciences has received license for two products from Australia and Mexico valid till 2023 and 2025 for a new material treating disorders linked with neuro-degenerative diseases. The company involved in making central nervous system arena for cognitive disorders also expecting a $30 billion potential global market.

IPO of Indosolar open for subscription from September 13

Indosolar has planned its IPO on September 13 with a public issue of Rs 357 crore and price tag will be at Rs 29-32 per share. Indosolar produces poly-crystalline solar photo-voltaic cells from silicon wafers utilizing crystalline silicon SPV cell technology for changing sunlight into electricity shortly known as photo-voltaic effect.

IPO open from September 17-21 says Eros International

The IPO of Eros International Media is open for subscription from September 17-21. The company expects to increase Rs 350 crore through its initial public offering according to draft prospectus. Eros Digital Private Limited holds 30.39% stake and Eros Worldwide holds 69.60% stake in the company.

Gujarat Pipavav Port expects profit by 2011

Gujarat Pipavav Port started at Rs 56.10 with a premium of 21.96% on its issue price of Rs 46 on National Stock Exchange showing good response. The company received Rs 500 crore through its IPO ended on August 26 from which Rs 300 crore is planned to retire debt, said MD Prakash Tulsiani.

Car sales increase 33.2% last August

In the latest development, the Indian car sales increased by 33.2% as compared to the same period last year wherein the increase was led by Maruti Suzuki as the firms recorded car sales of 160,794 last month, according to the Society of Indian Automobile Manufacturers or SIAM.

Rs 500 billion debt fund aimed by Government for energy segment

According to P. Uma Shankar, the Power Secretary, the government has been aiming to implement a debt financing worth Rs 500 billion in order to sustain the operations in the energy segment. Another $11 billion debt financing intended for infrastructure was declared beforehand.

BSE Sensex with 0.71% upsurge as market in upturn anew

The BSE 30-share Sensex was up 132.95 points or 0.71% to 18,799.66, its highest closing level since 18 January 2008. The index rose 156.46 points at the day's high of 18,823.17 in late trade. The index rose 2.41 points at the day's low of 18,669.12 in early trade.

The S&P CNX Nifty was up 32.20 points or 0.57% at 5,640.05, its highest closing level since 18 January 2008. The index hit high of 5,647.45 in late trade.

The BSE Mid-Cap index rose 0.68% and the BSE Small-Cap index rose 0.32%. Both these indices underperformed the Sensex.

The banking index Bankex (up 2.19%), Capital Goods index (up 0.82%) and PSU index (up 0.74%), outperformed the Sensex.

The BSE Oil & Gas index (down 0.27%), Healthcare index (down 0.16%), FMCG index (up 0.04%), Auto index (up 0.19%), IT index (up 0.25%), Power index (up 0.36%), Metal index (up 0.41%), Realty index (up 0.49%) and Consumer Durables index (up 0.59%) underperformed the Sensex.

BSE clocked turnover of Rs 4811 crore, lower than Rs 6159.55 crore on Wednesday, 8 September 2010.

Market Breadth:

Positive 1573 Negative 1381 Unchanged 96
From the 30 share Sensex pack, 18 rose and rest fell.

BSE Sensex rises 0.12% on mixed market

The BSE 30-share Sensex rose 21.65 points or 0.12% to 18,666.71, its highest closing since 18 January 2008. The index rose 76.15 points at the day's high of 18,721.21 in afternoon trade. The index fell 104.41 points at the day's low of 18,540.65 in early trade.

The S&P CNX Nifty rose 3.85 points or 0.07% at 5,607.85, its highest closing since 18 January 2008. Nifty hit a high of 5,625.30 in early afternoon trade.

The BSE Mid-Cap index rose 0.34% and the BSE Small-Cap index rose 0.59%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 6124 crore, higher than Rs 5643.59 crore on Tuesday, 7 September 2010.

The BSE IT index (up 0.57%), Realty index (up 0.46%), Healthcare index (up 0.38%), Metal index (up 0.37%), PSU index (up 0.25%), the banking index -- Bankex (up 0.14%), outperformed the Sensex.

The Consumer Durables index (down 0.14%), Auto index (down 0.19%), Oil & Gas index (down 0.20%), Power index (down 0.27%), FMCG index (down 0.43%) and Capital Goods index (down 0.45%), underperformed the Sensex.

From the 30-share Sensex pack, 18 stocks rose while the rest of them fell.

Market Breadth:

Positive 1600 Negative 1348 Unchanged 118
From the 30 share Sensex pack, 18 rose and rest fell.

Man Industries expects Rs 2,000 crore in current year

Group Chairman of Man Industries, RC Mansukhani, said they are expecting to receive Rs 2,000 crore plus versus last year’s Rs 1,600 crore. They may also get around 25% growth during this current year. The Rs 2,500 crore is expected go beyond next year not wholly.

FPO of ONGC expected in fiscal year 2011

RS. Sharma, Chairman of ONGC, said follow-on public offer of ONGC is expected to occur in January-March 2011 and 5% divestment in the company is planned by the government. They also considering on establishment of subsidy sharing plans. The government is also dragging their diesel deregulation plans, he added.

Airlines to get loans under Rs 40 billion from Bank of India

M. Narendra, Executive Director of Bank of India, has said loan issued to air carriers may not exceed Rs 40 billion and FY11 credit growth of the bank till now has been 21%. The central bank gave permission to the banks for issuing loan to aviation sector.

Plan to purchase stake in Indian shipyard says Shipping Corp

S Hajara, Managing Director and Chairman of Shipping Corp of India, said they expect to purchase stake in Indian shipyard. All the Indian private shipyards are welcomed to give their expression of interest including Shipping Corp, he added. The company also expects to introduce follow-on share sale in December.

Mahindra Satyam receiving orders from 8 new clients in Australia

Mahindra Satyam received eight new clients in Australia from Jan 2010 and it is mainly under Enterprise Solutions space across different sectors like finance, engineering, HR and insurance. The company expects to complete two more deals in Australia's BPO space and four more deals in BFS.

Dividend announced at Rs 0.10 per equity share by Finaventure Capital

The dividend of Finaventure Capital Ltd has been announced at Rs 0.10 per equity share regarding the approval of Members of the Company at the Annual General Meeting. This was informed to BSE after the Board of Directors meeting conducted on June 24, 2010.

FY11 borrowing of Government to stay as estimated

Government's plan to borrow financial year ending March 2011 expects no changes and stay as estimated. RBI and Finance Ministry may complete the borrowings for second half of the year around September 24. The borrowings expected at Rs 457000 crore, with the YTD showing Rs 263000 crore.

Tata Steel to stabilize ferrochrome plant in SA and to sell

Managing Director of Tata Steel HM Nerurkar said, discussions are on with banks to increase the European loans from $4.5 billion-$5.5 billion. There are no plans of selling ferrochrome plant in South Africa and expect to stabilize the operations and purchase new mines there, he added.

IT department favored in Vodafone tax case

Vodafone tax case is declared in favor of income tax department by Bombay High Court on Wednesday. IT department has been authorized to issue notice to Vodafone for paying Rs 12,297 crore as tax liability. Vodafone said $11.2 billion deal outside India is not taxable which lead issue to court.

Bajaj Auto Finance becomes Bajaj Finance from September 06, 2010

Bajaj Auto Finance which started as financing for two-wheelers and three-wheelers produced by Bajaj Auto Ltd got approval to change its name to Bajaj Finance considering companies addition to lending products to its portfolio and is now a diversified consumer and small business lending Company including six lending products.

DRHP filed by Shilpi Cable Technologies

Shilpi Cable Technologies has filed draft red herring prospectus(DRHP) with SEBI for IPO of Rs 55.88 crore expecting to enter into capital market for expanding its business. The cable manufacturer products are used in telecom towers for carrying high-frequency or broadband signals between antenna and base station.

IPO opened at Rs 357 crore by Indosolar

Indosolar opens its public issue of Rs 357 crore on September 13, 2010 with a price tag of Rs 29-32 per share. The company produces poly-crystalline solar photo-voltaic cells from silicon wafers utilizing crystalline silicon SPV cell technology for interchanging sunlight directly into electricity by a method called photo-voltaic effect.

Dividend announced at 20% by Ind-Swift Limited

The dividend of Ind-Swift Limited has been announced at 20% on equity shares which is Rs 0.40 per share. This information was given to Exchange after the meeting conducted by the Board of Directors of the company on September 6, 2010.

JK Paper expected to decrease by $550/tonne level

V Kumarswamy, Chief Financial Officer, said the demand of paper has been very strong even then JK Paper has increased its prices by 6-12% in last few months. The rates of pulp have decreased extremely which is expected to reach $550/tonne level and stock level stayed normal.

RBI says Basel III capital norms will not affect Indian banks

The higher capital requirements for Basel 3 norms may not strike the Indian banks but the Impact may differ from banks said Duvvuri Subbarao, Governor of RBI. The banking system in India is fairly leveraged and PSU banks have no issue in improving buffer capital, he added.

ArcelorMittal and Indiabulls plan to merge themselves

ArcelorMittal, Indiabullsd, ArcelorMittal and Indiabulls Real Estate are planning to merge for obtaining iron ore and coal mines in India. The merger plans for all the mining projects in India and Gagan Banga, Executive Director of Indiabulls as expressed his special interest in coal and iron ore.

SBI and RBI in discussion to reorganize loans to airline companies

The loan quality in banking sector for last 2 yrs has not seen improvement said OP Bhatt, Chairman of SBI and the bank's introduction into aviation sector stayed at Rs 3,000 - 4,000 crore. The SBI are discussing with RBI for reorganizing its loans to airline companies, he added.

Expect to spin off finance arm into NBFC says Bajaj Finserv

Bajaj Finserv is distressed into support financing through its retail financing arm Bajaj Auto Finance due to heavy demand-supply difference inside the infrastructure space. The chance is more of spinning off Bajaj Finance into non-banking financial company said Sanjiv Bajaj, MD of Bajaj Finserv.

BSE Sensex surges 0.46% as market remains upbeat

The BSE 30-share Sensex rose 85.01 points or 0.46% to 18,645.06, its highest closing since 5 February 2008. The index gained 151.15 points at the day's high of 18,711.20 in late trade.
The index rose 11.38 points at the day's low of 18,571.43 in early trade.

The S&P CNX Nifty rose 27.05 points or 0.49% at 5,604, its highest level since 21 January 2008.
The index hit a high of 5625.50 in late trade.

The BSE Mid-Cap index rose 0.09%, underperforming the Sensex. The BSE Small-Cap index outperformed the Sensex, rising 0.62%.

BSE clocked turnover of Rs 5622 crore, higher than Rs 5442.84 crore on Monday, 6 September
2010.

The BSE Capital Goods index (up 1.29%), BSE IT index (up 0.99%), BSE Metal index (up 0.81%), outperformed the Sensex. The BSE Realty index (down 1.04%), BSE Healthcare index (down 0.33%), BSE banking index -- the Bankex (down 0.32%), BSE Auto (down 0.29%), BSE Consumer Durables index (down 0.09%), BSE FMCG index (up 0.13%), BSE Power index (up 0.15%), BSE PSU index (up 0.37%) and Oil & Gas (up 0.44%), underperformed the Sensex.

Market Breadth:

Positive 1664 Negative 1282 Unchanged 127
From the 30 share Sensex pack, 18 rose and rest fell.

Dividend announced at Re 0.05 per share by Gemini Communication

The dividend of Gemini Communication Limited was announced at Re 0.05 paise per share at face value of Re 1/- per share for the FY ended 2009-2010. This matter was informed to Exchange after the company’s Board of Directors meetings conducted on September 06, 2010.

Scheme of Amalgamation gets aprroved for Balkrishna Industries

Balkrishna Industries Limited has got approval for the Scheme of Amalgamation of BKT Moulds Limited with the company from Bombay's Hon'ble High Court of Judicature and their specific shareholders under sections 391 to 394 of Companies Act, 1956. This information was given to the Exchange.

MCA Secretary says CSR as voluntary, not mandatory

Ministry of Corporate Affairs has said Companies Bill 2010 will make CSR mandatory for corporate India which will make companies to add 2% of average net profit on CSR. The CSR should be voluntary and not mandatory as few companies are performing well in voluntary CSR said MCA Secretary.

Maruti Suzuki plans to expand in second assembly line

RC Bhargava Maruti Suzuki's chairman said, the company plans to increase 2,50,000 cars per year through its second assembly which is operational by second half of FY11 but the approval from board is awaited for the third assembly line. Capex is expected at Rs 1900 crore for increasing capacity, he added.

Bonus ratio announced at 2:5 by Karur Vysya Bank

BOD meeting of Karur Vysya Bank Limited informed Exchange about decision to issue Bonus shares in ratio 2:5 (2 bonus shares of Rs.10/-each issued to 5 equity shares of Rs.10/-each shareholders hold) and to issue rights equity shares in ratio 2:5 according to record date expected at later date.

MTS plans for going public

MTS CDMA mobile service in India gets approval from Shyam Sistema for plans of going public in the near future. The decision will be finalized after the Russian government invests another $620 million in the company which is expected to clarify in September or October.

Reliance plans for full buyout in US shale

Reliance Industries owned by Mukesh Ambani plans a complete buyout in US shale after realizing its ability to run such operations. Reliance has received three shale gas joint ventures with US firms this year and also got around 20-25 pitches from investment bankers for shale assets.

Kohinoor Foods plans to do well in the next quarters

The Joint MD of Kohinoor Foods Gurnam Arora said the prices have increased by $30-70 during last one month which is a good sign and currently the supply chain is also better. We are running smoothly due to better stock & prices and receiving more orders, he added.

Fortis Healthcare plans real estate investment trust in Singapore

Fortis Healthcare plans to get a real estate investment trust in Singapore in 6 months to setup its property assets with a valuation of $600-700 million. The company has been trying hard to get real estate investment trust since its failure in bidding for Parkway Holdings.

Employees of Indian bank expect to go for strike in Sept 7

On Sept 7, 2010, staff of Indian banks expected to go on strike for protesting against few problems including foreign direct investment in public sector banks and entry of foreign banks amongst others. All India Bank Employees Association(AIBEA) supported by National Convention of Central Trade Unions has announced the strike.

Prime Minister expects to have younger Cabinet

Manmohan Singh-Prime Minister of India is planning to reshuffle his Cabinet before winter session of parliament as he wants younger Cabinet. PM dismissed disconnection between his government and Congress party saying the current cabinet is performing better compared to first Cabinet controlled by Jawaharlal Nehru.

IPO by end of 2010 says Sistema Shyam Teleservices

Sistema Shyam Teleservices expects to launch its initial public offering by end of 2010 in India. The company anticipated Russian government to decide on investing about $620 million in Sistema Shyam in few weeks which will add 20% stake in the company said its Chief Executive Vsevolod Rozanov.

Maharatna status to be obtained by Coal India

Coal India may release its IPO in October 2010 for increasing about Rs 14,000 crore which is the highest IPO in the Indian Capital Market, as it gets ready to obtain Maharatna status. Government of India as approved Navratna and Maharatna status with few conditions to certify as Maharatna.

India expects $5.6 billion via IOC and ONGC deal

Indian government expects to get $5.6 billion at current prices by selling 10% in Indian Oil Corp and 5% in Oil and Natural Gas Corp in March quarter. The oil ministry has decided to go to the cabinet now, said S. Sundareshan, the Oil Secretary.

Firstsource Solutions gets 5-year deal with Axis Bank

Firstsource Solutions Ltd has signed a five year Outsourcing Partnership with Axis Bank. The information regarding this matter was given to BSE and a copy of the press release issued by the Company was also handed over to the BSE.

Zensar Tech plans for a major acquisition

Zensar Technologies gets approval from India Infoline for major acquisition with an amount of Rs 193. India Infoline's expects to improve revenue visibility for Zensar as the company's operating margins to rise and overall margins can be reasonable. Zensar anticipates 40% from SMEs in next 2 years with 20-30 thousand companies.

FPO planned for Q4 FY11 by IOC

Indian Oil Corporation (IOC) is expected to release follow-on public offer(FPO) in Q4 FY11. The government plans 20% stake sale in Indian Oil by divesting 10% through this offer and 10% on fresh equity issuance. A disinvestment of 5% is expected in ONGC post Indian Oil FPO.

Coal India IPO gets CRISIL grade 5/5

Coal India IPO received a grade 5/5 from CRISIL which makes fundamentals of IPO healthy compared to other listed equity securities in India. Coal India, largest producer of coal in the world with 64.8 bn tonnes is owned by government of India finds a dominant position.

BSE Sensex climbs 1.86% as all sectors improve

The BSE 30-share Sensex rose 338.62 points or 1.86% to 18,560.05, its highest closing since 5 February 2008. The index gained 378.87 points at the day's high of 18,600.30 in late trade.

The index fell 97.14 points at the day's low of 18,124.29 in early trade.
The S&P CNX Nifty rose 97.55 points or 1.78% at 5,576.95, its highest closing since 18 January 2008. It hit a high of 5,589.40 in late trade.

The BSE Mid-Cap index rose 1.31% and the BSE Small-Cap index gained 1.83%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 5412 crore, higher than Rs 4778.27 crore on Friday, 3 September 2010.

All the 13 sectoral indices on BSE rose. The BSE Metal index (up 3.47%), banking sector index Bankex (up 2.06%), Realty index (up 1.98%), Oil & Gas index (up 1.97%) and IT index (up 1.88%), outperformed the Sensex.

The BSE Auto index (up 1.71%), Power index (up 1.34%), PSU index (up 1.12%), Consumer Durables index (up 1.03%), Healthcare index (up 0.97%), Capital Goods index (up 0.79%) and FMCG index (up 0.58%), underperformed the Sensex.

Market Breadth:

Positive 2072 Negative 881 Unchanged 123
From the 30 share Sensex pack, 26 rose and rest fell.