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Increase in cost of fuel affects inflation in June by 0.39%

The increase in costs of cooking gas, kerosene as well as diesel straightforwardly affected the inflation, the total WPI or wholesale price index, last June by 0.39%, according to Namo Narain Meena, the Minister of state for Finance.


PME Power Solutions aims to accumulate Rs 300 to 400 crore via IPO

PME Power Solutions, an electrical transformer producer, has been aiming to accumulate around Rs 300 to Rs 400 crore by means of IPO. The firm already submitted its documents with SEBI of above 1.14 crore equity shares.

Brooks Laboratories sets September 5 as day of listing its shares

Brooks Laboratories has been aiming to have a listing of its equity shares this coming Monday on the 5th of September wherein the issue is valued at the range of Rs 90 to Rs 100 for each share.


BSE Sensex expands 1.59% as market gains anew

The BSE Sensex jumped 260.42 points or 1.59% to settle at 16,676.75, its highest closing level since 17 August 2011. The index jumped 298.37 points at the day's high of 16,714.70 in late trade. The index rose 27.02 points at the day's low of 16,443.35 in early afternoon trade.

The S&P CNX Nifty was up 81.40 points or 1.65% to settle at 5,001, its highest closing level since 17 August 2011. The Nifty hit a high of 5,016.25 in intraday trade. The Nifty hit a low of 4,927.55 in intraday trade.

The BSE Mid-Cap index rose 1.44% and the BSE Small-Cap index gained 1.1%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2605 crore, higher than Rs 1849.88 crore on Monday, 29 August 2011.

Market Breadth:

Positive 1843 Negative 995 Unchanged 109
From the 30 share Sensex pack, 24 rose and rest fell.

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OIC plans to halt operations of Mathura refinery

The largest oil producer in India, Indian Oil Corp., has scheduled to stop the operation of its Mathura plant located in the northern part of India this coming 21st of September wherein it is to be maintained within three weeks. The plant produces 160,000 barrels daily.


FPO of BHEL to be discussed by CCEA this Tuesday

The FPO of BHEL, the energy device manufacturer, will be discussed this Tuesday by CCEA or Cabinet Committee of Economic Affairs wherein the selling of 5% stake in the firm has been anticipated to accumulate greater than USD 1 billion or around Rs 4,700 crore for the administration.

FPO of ONGC to be launched this 20th of September

Oil and Natural Gas Corporation or ONGC has an FPO or follow-on public offer to be introduced commercially this coming September 20. Most probably, the road shows for its FPO will start on the 5th of September whereas the application with SEBI is on the 8th of the same month.


BSE Sensex grows 3.58% as market begins week on high note

The BSE Sensex jumped 567.50 points or 3.58% to settle at 16,416.33, its highest closing level since 23 August 2011. The index jumped 613.20 points at the day's high of 16,462.03 in late trade. The index rose 219.90 points at the day's low of 16,068.73 in early trade.

The S&P CNX Nifty was up 171.80 points or 3.62% to settle at 4,919.60, its highest closing level since 23 August 2011. The Nifty hit a high of 4,934.40 and a low 4,806.05 in intraday trade.

The BSE mid-Cap index rose 2.48% and the BSE Small-Cap index gained 2.06%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 1833 crore, lower than Rs 2375.99 crore on Friday, 26 August 2011.

Market Breadth:

Positive 2148 Negative 711 Unchanged 84
From the 30 share Sensex pack, 28 rose and rest fell.

Tree House plunges 12% at debut

Tree House Education and Accessories suffered around 12% decrease in shares on first day of launching because of downbeat trading sessions. The price of the issue was Rs 135 versus the Rs 119.30 share price at end of trading.


IPO of SRS gains from NIIs

The IPO of SRS has gained from NIIs or non-institutional investors in the final day of the week with the subscription of 1.25 times, according to NSE. SRS is a firm engaged in food and retail, jewellery and cinema exhibition.


IPO of TD Power gains from QIBs

The IPO of TD Power Systems, AC generator producer, obtained positive reactions from QIBs or qualified institutional buyers. According to NSE, the issue worth Rs 227 crore has subscription of 3 times.


BSE Sensex plummets 1.84% as market ends week on red

The BSE Sensex lost 297.50 points or 1.84% to settle at 15,848.83, its lowest closing level since 5 February 2010. The index fell 380.80 points at the day's low of 15,765.53 in late trade. The Sensex jumped 110.05 points at the day's high of 16,256.38 in morning trade.

The S&P CNX Nifty shed 91.80 points or 1.9% to settle at 4,747.80, its lowest closing level since 5 February 2010. The Nifty hit a low of 4,720 in intraday trade.

The BSE Mid-Cap index fell 2.25% and the BSE Small-Cap index shed 2.65%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2078 crore, lower than Rs 2438.34 crore on Thursday, 25 August 2011.

Market Breadth:

Positive 641 Negative 2226 Unchanged 111
From the 30 share Sensex pack, 27 fell and rest rose.

SMA Solar India expected to gain 40% of market

According to the General Manager of SMA Solar India, Rakesh Khanna, SMA Solar from Germany has been looking forward to have a market gain of around 40% for its subsidiary with 3,500 megawatts of power supply.


Tree House and Accessories to launch IPO this Friday

The educational services company, Tree House Education and Accessories, has been planning to enlist its stocks this Friday, August 26, wherein its IPO value is fixed at Rs 135 for every share.


0.88 times subscription for IPO of TD Power on day 2 of launching

On day 2 of the TD Power Systems’ IPO launching, it gained subscription of 0.88 times wherein the amount accumulated from bids was 66.85 lakh equity shares until 5:00 PM versus 75.62 lakh shares on offer, according to NSE.


BSE Sensex slumps 0.85% as trading drops anew

The BSE Sensex was down 138.65 points or 0.85% to 16,146.33, its lowest closing level since 19 August 2011. The Sensex gained 88.86 points at the day's high of 16,373.84 in early trade. The index fell 180.64 points at the day's low of 16,104.34 in late trade.

The S&P CNX Nifty was down 49.30 points or 1.01% to 4,839.60, its lowest closing level since 25 May 2010. The Nifty hit a low of 4,825.05 in intraday trade.

The BSE Mid-Cap index fell 0.88% and underperformed the Sensex. The BSE Small-Cap index declined 0.82%. and outperformed the Sensex.

BSE clocked turnover of Rs 2426 crore, higher than Rs 2204.92 crore on Wednesday, 24 August 2011.

Market Breadth:

Positive 1133 Negative 1654 Unchanged 115
From the 30 share Sensex pack, 19 fell and rest rose.

IndiaFirst aims profit Rs 1,200 crore from latest unit in FY12

P Nandagopal, the managing director and CEO of IndiaFirst Life Insurance, revealed that the firm has been aiming to profit Rs 1,200 crore with new premium as the income source during the present financial year.


Indian banking sector to rank third in 14 years

In the latest development in India, it is an impending scenario by 2025 that Indian banking sector will be securing the third spot in the world’s largest in asset size to the amount of USD 28,500 billion as compared to only USD 1,350 billion last year.


SRS IPO stands at Rs 52 reasonable price

According to Unicon Investment, the IPO value for SRS, one of the affiliates of SRS Real Infrastructure Ltd., which stands at Rs 52 seems a reasonable price. SRS Real Infra also manages four other firms such as Cinema Exhibition, Retail Food&Beverages along with Jewellery.


BSE Sensex grows 1.24% as market makes a rebound

The BSE Sensex jumped 200.03 points or 1.24% to 16,341.70, its highest closing level since 18 August 2011. The Sensex lost 95.19 points at the day's low of 16,046.48 in early afternoon trade. The index jumped 228.79 points at the day's high of 16,370.46 in late trade.

The S&P CNX Nifty was up 53.15 points or 1.1% to 4,898.80, its highest closing level since 18 August 2011. The Nifty hit a high of 4,910.05.

The BSE Mid-Cap index rose 1.25% and the BSE Small-Cap index gained 1.54%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2005 crore, slightly lower than Rs 2014.36 crore on Friday, 19 August 2011.

Market Breadth:

Positive 1811 Negative 1021 Unchanged 97
From the 30 share Sensex pack, 24 rose and rest fell.

Force Motors to spend Rs 1,000 crore for vehicles operations

Abhay Firodia, the chairman of Force Motors, reveals this day about the firm’s plan to spend Rs 1,000 crore until 2013 to expand their services through the passenger vehicle sector as well as the commercial vehicle industry.


Muthoot Finance plans to launch 800 outlets in FY12

In the latest statement released by Muthoot Finance, the firm announced about its plan to start its huge business widening program wherein a financing of Rs 80 crore is aimed to launch another 800 outlets nationwide this financial year.


Café Coffee Day aims 2,000 branches before 2015

According to Café Coffee Day, the firm announced this day that it aims to nearly reach more or less 2,000 branches in India before 2015. This is a part of their business widening scheme.


BSE Sensex drops 1.99% as market still on slump led by IT

The BSE Sensex tumbled 328.12 points or 1.99% to settle at 16,141.67, its lowest closing level since 25 May 2010. The Sensex lost 482.02 points at the day's low of 15,987.77 in mid-afternoon trade. The index fell 182.07 points at the day's high of 16,287.72 in morning trade.

The S&P CNX Nifty fell 98.50 points or 1.99% to settle at 4,845.65, its lowest closing level since 25 May 2010. The Nifty hit a low of 4,796.10 in intraday trade.

The BSE Mid-Cap index declined 1.36%, outperforming the Sensex. The BSE Small-Cap index fell 2.01%, underperforming the Sensex.

The total turnover on BSE amounted to Rs 2753 crore, higher than Rs 2241.65 crore clocked on Thursday.

Twelve out of 13 sectoral indices on BSE declined. The BSE IT index (down 4.41%), the BSE Capital Goods index (down 4.17%), and BSE TecK index (down 3.7%), outperformed the Sensex. The BSE Realty index (up 0.77%), the BSE Metal index (down 0.39%), and the BSE Realty index (down 0.7%), underperformed the Sensex.

Market Breadth:

Positive 773 Negative 2083 Unchanged 105
From the 30 share Sensex pack, 21 fell and rest rose.

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Coal India dislodges Reliance as India’s most valuable co

In the latest development, Reliance Industries, a firm managed by the ninth wealthiest man in the world, Mukesh Ambani, lost its position as the nation’s most valuable corporation in a four-year stretch. The top rank was obtained by Coal India.


Coal Minister urged by Power Minister for NTPC blocks reallocation

According to Sushilkumar Shinde, the Power Minister, he has made a formal letter to Sriprakash Jaiswal, the Coal Minister, to have an evaluation of the volition to make a reallocation of the five coal blocks given to NTPC.


DoubleTree brand in India launched by Hilton Worldwide

Hilton Worldwide announced this day that the firm already launched in India the 'DoubleTree by Hilton' brand together with the introduction of a latest hotel asset in the country, according to Rob Palleschi, the Head of Hilton Global.


Datamatics purchases USD 17 million stakes in Cignex

The CEO and vice chairman of Datamatics Technologies, Rahul Kanodia, announced that the firm already invested in Cignex Global Holding Corporation through acquisition of stocks amounting to USD 17 million in cash that will be consummated until 2013.


Essar Energy to seal an energy supply contract with Bihar

According to Essar Energy Plc this day, the firm expects to seal a deal with Bihar State Electricity Board or BSEB in putting on sale 25% of the 1,200 Megawatts energy to be produced from its refinery in Tori going to Bihar.


Scarcity of coal supply to impact 15000 Megawatts fresh added capacity

This financial year, the scarcity in coal supply is being anticipated to have an effect on the latest capacity addition schemes to a figure of 15,000 Megawatts. According to the parliamentary panel, although 480 MT is required to operate home-grown coal, there is a need for just 417.5 MT of coal supply for power refineries.


Alok Industries aims to get Rs 2000 crore from land sale

In a statement released by the managing editor of Alik Industries, Dilip Jiwrajka, the firm has been aiming to have a land sale amounting to more or less Rs 2000 crore which is being anticipated to lessen the arrears. The remaining arrears of the firm could be in the value of Rs 8500 crore.


Admin awards Maharatna tag to five conglomerates

According to Praful Patel, the Minister of Heavy Industries and Public Enterprises, among the seven CPSEs or Central Public Sector Enterprise, there are five firms that already registered for the in demand Maharatna tag namely: ONGC, NTPC, IOC, SAIL and CIL.


SunBorne obtains Rs 140 crore monetary closure for its power refinery

SunBorne Energy announced this day that the firm already obtained monetary closure on the arrears part amounting to Rs 140 crore aimed to finance the impending manufacturing of the Karmarian photo-voltaic refinery in Gujarat that can produce 15 Megawatts of power.


BSE Sensex plunges 2.2% as market remains in downbeat state

The BSE Sensex tumbled 371.61 points or 2.2% to settle at 16,469.79, its lowest closing level since 26 May 2010. The Sensex lost 407.49 points at the day's low of 16,433.31 in late trade. The index rose 76.01 points at the day's high of 16,916.81 in early trade.

The S&P CNX Nifty tanked 112.45 points or 2.22% to settle at 4,944.15, its lowest closing level since 26 May 2010. The Nifty hit a low of 4,932.15 and high of 5,078.60 in intraday trade.

The BSE Mid-Cap index declined 2.05%, outperforming the Sensex. The BSE Small-Cap index fell 2.62%, underperforming the Sensex.

The total turnover on BSE amounted to Rs 2229 crore, lower than Rs 2369.48 crore on Wednesday, 17 August 2011.

Market Breadth:

Positive 669 Negative 2200 Unchanged 96
From the 30 share Sensex pack, 26 fell and rest rose.

Brooks Labs IPO a bit costly than other pharma firms

As a comparison to some pharmaceutical firms, the offer of Brooks Laboratories for its IPO is around 21 to 24 times the EPS in the financial year 2010-2011. It is considered as a bit costly since the other corporations just offer 11 times of mean valuations.

Just Dial to introduce IPO for Rs 10 each share

Just Dial Limited, the top search engine in the country, already submitted documents for an IPO or initial public offering to SEBI or Securities and Exchange Board of India for its DRHP or Draft Red Herring Prospectus wherein the firm aims for its every equity share amounting to Rs 10 in the market.


BSE Sensex dips 0.65% as gloomy market continues

The BSE Sensex was down 108.69 points or 0.65% to 16,730.94, its lowest closing level since 9 June 2010. The Sensex gained 195.86 points at the day's high of 17,035.49 in early trade. The index declined 166.11 points at the day's low of 16,673.52 in late trade.

The S&P CNX Nifty was down 37.15 points or 0.73% to 5,035.80, its lowest level since 9 June 2010. Nifty hit low 5,015.40 in late trade.

The BSE Mid-Cap index fell 1.79% and the BSE Small-Cap index shed 2.1%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 2095 crore lower than Rs 2691.01 crore on Friday, 12 August 2011.

Market Breadth:

Positive 844 Negative 2007 Unchanged 93
From the 30 share Sensex pack, 22 fell and rest rose.

ONGC may submit RHP for FPO by early next month

Oil and Natural Gas Corporation (ONGC), which is owned by the government, may submit file papers for an Rs 12,000 share sale by early next month, according to a senior firm representative at the moment.


MBL Infrastructures obtains Rs 212 crore road venture in MP

Construction company MBL Infrastructure at the moment has told that it has obtained a road development venture worth a projected Rs 212 crore from Madhya Pradesh Development Corporation.


Farmers profit has increased because of Bt cotton agriculture

Farmers profit has augmented on an average by Rs 10,000 per hectare after reduction in pesticide use and increase in yield because of farming of cotton, according to the Parliament at the moment.


India’s illegitimate financial losses projected at $ 462 billion

A report of Global Financial Integrity (GFI) has projected the total value of illicit money that has lost in India at $ 462 billion (more or less Rs 20.92 lakh crore), the Parliament announced at the moment.


Bharti Airtel alleged of forex rule infringement, Finance Minister

The Directorate of Enforcement is investigating the nation’s prominent mobile phone carrier Bharti Airtel for alleged infringements of foreign exchange rules, according to a junior finance minister on Tuesday.


UTV seeks CCI endorsement for amalgamation with Walt Disney

Media and entertainment company UTV Software Communications has move toward competition regulator Competition Commission of India (CCI) to seek endorsement for its recommended amalgamation with Walt Disney (South East Asian), in an agreement valued at more or less Rs 2,000 crore.


Philips drafts schemes on mother & child care space

Consumer electronics marketer Philips India has told that it will establish its presence in the mother and child care segment and eyes to be market leader.


CCI hits Rs 600 crore penalty on DLF

Competition regulator CCI at the moment imposed a penalty of more or less Rs 600 crore on realty major DLF for abusing its prevailing market position.


Monetary guidelines will ease inflation, Pranab Mukherjee says

In the latest development, monetary guidelines will have its effect in easing down inflation, according to Finance Minister Pranab Mukherjee on Tuesday.


NIIT Tech to purchase software services company Proyecta Sistemas

NIIT Technologies is obtaining a software services firm in Madrid, Spain, Proyecta Sistemas de Informacion SA in its attempt to broaden its European business.


July inflation alleviates to 8-month low at 9.22 percent MoM

Inflation has alleviated to some extent to an eight month low in July. It has arrive at 9.22 percent as against to 9.44 percent on a month-on-month bases as the rate of price increase in food articles and petro-merchandises alleviated, even if pressure stayed on produced merchandise.


BSE Sensex decreases 1.29% as market in downturn

The BSE Sensex lost 219.77 points or 1.29% to 16,839.63, its lowest closing level since 9 June 2010. The index fell 274.84 points at the day's low of 16784.56 in early afternoon trade. The Sensex gained 187.48 points at the day's high of 17,246.88 in early trade, its highest level since Wednesday, 10 August 2011.

The S&P CNX Nifty was down 65.35 points or 1.27% to 5,072.95 its lowest closing level since 9 August 2011. The Nifty hit a high of 5,194.45 in intraday trade, its highest level since Wednesday, 10 August 2011. The Nifty hit a low of 5,053.35 in intraday trade.

The BSE Mid-Cap index fell 0.46% and the BSE Small-Cap index declined 0.44%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2450 crore, higher than Rs 2374.85 crore on Thursday, 11 August 2011.

Market Breadth:

Positive 1257 Negative 1585 Unchanged 111
From the 30 share Sensex pack, 24 fell and rest rose.


Tree House Education IPO invested 1.84 times

Educational services provider Tree House Education and Accessories has obtained mild response to its initial public offering wherein it was invested 1.84 times.

Brigade Enterprise to open 10 million square feet of ventures in Fiscal Year 2012

Brigade enterprises declared its fourth period outcomes for Fiscal Year 2012. The firm’s first period of Fiscal Year 201 1 total revenue was up 83 percent at Rs 168 crore against Rs 92 crore.

Services trades fell 6.7 percent in June; imports increase 1.6 percent

In the latest development, India’s services trades in June 2011, set at $ 11.04 billion, a decrease of 6.7 percent month-on-month in comparison to May.

India making regular compensation for Iran crude, Pranab says

Declaring that Iran never threatened to halt crude oil supply to India, the Administration at the moment has told that the problem of arranging the import bill with the Persian Gulf country has been reformed.

Lanco remove threat to postpone coal supply to Bluewaters

Lanco Infratech has removed a threat to postpone coal supply to the Bluewaters power venture in Australia, according to a top executive on Friday, marking an action that could take the power venture a step nearer to being purchased by two Japanese firms.

Maintaining inflation low is crucial, Gokarn says

The goal of the Reserve Bank to maintain inflation low is crucial, according to Subir Gokarn, a deputy governor at the Reserve Bank of India on Friday.


Ranbaxy opens ‘Volini Duo’ OTC painkiller across nation

Drug Company Ranbaxy Laboratories at the moment has told that its over-the-counter (OTC) division has opened a two-in-one painkiller, Volini Duo, across the nation.

Rolta eyes 15 percent margins in profits next year

Rolta declared its first period outcomes for Fiscal Year 2012. The firm posted an increase of 5.5 percent quarter-on-quarter (QoQ) in revenues for the fourth period of Fiscal Year 2011.

Mahindra Satyam starts concentrated effort versus fraud employees

Mahindra Satyam has started a nationwide concentrate effort versus employees that joined the organization using forged certificates and deceptive means after it discovered some people have outwitted the firm’s background verification process, according to a senior officer at the moment.

India may talk about more sugar exports on Friday

A board of ministers could meet on Friday to talk about permitting more sugar exports, according to a report, on top of the 1 million tons of unlimited shipments permitted until now this year.

Brooks Laboratories Ltd IPO


Company Name

Opens

Closes

Price Rs

Issue Size


Aug 16, 2011

Aug 18, 2011

90.0 - 100.0

Rs 63.0 Cr.
Brooks Laboratories Ltd is in the business of Pharmaceutical Contract Research & Manufacturing. Brooks Lab manufactures wide range of products catering to critical care segment in Parental Section like Beta Lactam, Cephalosporin & General Dry powder Injectables, Ampoules and Liquid vials, Dry Syrups and Tablets etc.

Brooks Labs has manufacturing unit at Baddi, Himachal Pradesh. Brooks Lab has a world class team to develop new molecules in injectables and clavulanic acid based products supported by sophisticated infrastructure for Research & Development. Brooks Labs is WHO-GMP and ISO 9000-2008 certified company.

Objectives of Brooks Labs IPO
1) To set up our new manufacturing unit at JB SEZ Pvt Ltd, Panoli, Gujarat for manufacturing of various pharmaceuticals formulations;
2) To meet Long Term Working Capital requirement;
3) To meet General Corporate Purpose and;
4) To meet Issue Expenses and Listing of Shares on Stock Exchanges.

ICRA has assigned an IPO Grade 2(Below Average Fundamentals) to
Brooks Laboratories IPO

Public issue of [*] equity shares of face value Rs. 10 each (The "Equity Shares") of Brooks Laboratories Limited ("The Company" or The "Issuer") for cash at a price of Rs. [*] per equity share (including a share premium of Rs. [*] per equity share) aggregating to up to Rs. 63.00 crores (The "Issue"). The issue comprises a net issue of up to [*] equity shares (The "Net Issue"). The issue will constitute [*]% of the fully diluted post issue paid-up capital of the company.

Price band: Rs. 90 to Rs. 100 per equity share of face value of Rs. 10 each

The issue price is 9 times the face value at the lower end of the price band and 10 times the face value at the higher end of the price band.

For our analysis of Brooks Laboratories IPO, visit VJonDalalStreet's New IPOs

New IPOs || Old IPOs || IPO Allotment Status || IPO Basis of Allotment || Grey Market Premiums || IPO Draft Prospectus || IPO News || New IPO Listings



Tree House Education & Accessories Ltd IPO

 


Company Name

Opens

Closes

Price Rs

Issue Size

Tree House Education & Accessories Ltd


Aug 10, 2011

Aug 12, 2011

135.0 - 153.0

Rs 113.83 Cr.

Tree House Education is one of the leading educational services providers in India. As per CRISIL report, they operate the largest number of self-operated pre-schools in India. They have 177 pre-schools under the brand name of "Tree House" across 23 cities in India.

Tree House provide a wide variety of educational services to K-12 schools which includes designing curriculum and providing teaching aids, supplying methods for imparting education, organizing extra-curricular activities for students and teacher training.

Tree House offers playschool and nursery facilities, vacation camps, mother-toddler classes, hobby classes, day care facilities and teacher training course at pre-schools. Tree House Education's pre-schools are mainly located in the states of Maharashtra, Gujarat, Karnataka, Rajasthan and Andhra Pradesh. Company has been ranked amongst the 100 Small Business of the year 2010 in the annual survey conducted by the Franchising World.



Public issue of upto 8,432,189 equity shares of face value of Rs. 10 each ("Equity Shares") of Tree House Education & Accessories Limited (The "Company" or The "Issuer") for cash at a price of Rs. [*] per equity share including a share premium of Rs. [*] per equity share, aggregating upto Rs. [*] crores (The "Issue"). The issue shall constitute 25.01% of the fully diluted post-issue paid up capital of the company.

Price band: Rs. 135 to Rs. 153 per equity share of face value of Rs. 10 each.

The floor price is 13.5 times the face value and the cap price is 15.3 times the face value.

For our analysis of  Tree House Education & Accessories Ltd IPO, visit  VJonDalalStreet's New IPOs
New IPOs   ||   Old IPOs || IPO Allotment Status || IPO Basis of Allotment || Grey Market Premiums || IPO Draft Prospectus || IPO News || New IPO Listings

 

BSE Sensex slides 0.42% as market on slump again

The BSE Sensex was down 71.11 points or 0.42% to 17,059.40, its lowest closing level since Tuesday, 9 August 2011. The Sensex rose 77.31 points at the day's high of 17,207.82 in early afternoon trade. The index fell 117.56 points at the day's low of 17,012.95 in morning trade.

The S&P CNX Nifty was down 22.70 points or 0.44% to 5,138.30, its lowest closing level since Tuesday, 9 August 2011. The Nifty hit a high of 5,184.95 in intraday trade. The Nifty hit a low of 5,121 in intraday trade.

The BSE Mid-Cap index fell 0.16% and the BSE Small-Cap index declined 0.19%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 2360 crore, lower than Rs 2828.40 crore on Wednesday, 10 August 2011.

Market Breadth:

Positive 1338 Negative 1488 Unchanged 108
From the 30 share Sensex pack, 21 fell and rest rose.

Kotak Mahindra sees progress from semi-urban, rural industry

Kotak Mahindra Bank anticipates loan demand from semi-urban and rural vicinities to develop business in this financial year, as credit increase for the sector could be lesser than the central bank’s projection of 18 percent, according to a top official.


NTPC approves transaction with IWAI, Jindal ITF

Nation’s biggest power producer NTPC approved a transaction with Inland Water Authority of India (IWAI) and Jindal ITF for transportation of coal to its 2,100-MW power plant located at Farakka, West Bengal via inland waterways.

Credit card transaction increase by more than 29 percent in June

Transactions worth Rs 7,191.11 crore were accomplished using credit cards in the nation in June, 2011, rendering into a progress of 29.8 percent over the same month in the previous year.

Oil firms may scrap discounts for airlines

Marketing firms which is owned by the government are mulling scrapping of discounts to airline firms on aviation turbine fuel. An action like this would aid firms such as Hindustan Petroleum, Bharat Petroleum and Indian Oil save some crore rupees each month.

July trades increase 81 percent YoY, Rahul Khullar says

India’s trades in July increased an annual 81 percent to $ 29.3 billion, as imports increased 51 percent to $ 40.4 billion in the same month, according Trade Secretary Rahul Khullar on Thursday.

Food price increase at 4 ½ month high of 9.90 percent

Food price increase rushed to a 4 ½ month high of 9.9 percent in the week lasted July 30 on the back of more expensive onions, fruits, vegetables and protein-based merchandises.

Apollo Tyres leases 10,000 hectares in Laos for rubber farm

With the local tyre business in front of a crisis because of the international deficiency of inert rubber, Apollo Tyres Limited has taken on lease of more of less 10,000 hectares of land in Laos, in South-East Asia, for rubber farm, according to a prominent representative of the firm.

Hotel Leela to get rid of Kerala property for Rs 5 billion

Five-star hotel chain Hotel Leela Venture is ready to get rid of its property in Kovalam In Kerala for Rs 5 billion to slash its debt, according to reports quoting the group’s Chairman CP Krishnan Nair on Thursday.

June industrial production seen at 5.5 percent

India’s yearly industrial production progress almost certainly fell in June to 5.5 percent from a nine-month low of 5.6 percent in May, signifying tight fiscal policy and high inflation were impending development drive, according to the survey.

Accenture very eager to expand mobile commerce in Orissa

Global management consulting and technology service leader Accenture at the moment uttered interest to go into mobile commerce and skill development activities in Orissa.

Infotech approves MoU with IIT-H

Infotech Enterprises, a city based Engineering Services firm, has told that it has approved an MoU with the Indian Institute of Technology, Hyderabad (IIT-H) at the moment, which allows it to take on joint R&D and consultancy ventures with the involvement.


BSE Sensex expands 1.62% as Auto, Realty lead market growth

The BSE Sensex jumped 272.60 points or 1.62% to settle at 17,130.51, its highest closing level since 5 August 2011. The Sensex surged 398.55 points at the day's high of 17,256.46 in early trade. The index rose 164.34 points at the day's low of 17,022.25 in mid-afternoon trade.

The S&P CNX Nifty was up 88.15 points or 1.74% to 5,161, its highest closing level since 5 August 2011. The Nifty hit a high of 5,197.95 in intraday trade.

The BSE Mid-Cap index rose 2.31% and the BSE Small-Cap index gained 2.46%. Both these indices outperformed the Sensex

The total turnover on BSE amounted to Rs 2811 crore, lower than Rs 3398 crore on Tuesday.

Eleven out of 13 sectoral indices on BSE logged gains. The BSE Auto index (up 4.17%), the BSE Realty index (up 2.98%), and the BSE Consumer Durables (up 2.61%), outperformed the Sensex. The BSE FMCG index (down 0.47%), the BSE Oil & gas index (down 0.19%), and the BSE PSU index (up 0.95%), underperformed the Sensex.

Market Breadth:

Positive 2225 Negative 727 Unchanged 82
From the 30 share Sensex pack, 23 rose and rest fell.


L&T; Finance Holdings to file shares on August 12

L&T Finance Holdings, a subsidiary of engineering and construction firm Larsen and Toubro, will be listing its equity shares on exchange on Friday, August 12. The firm has arranged issue price at Rs 52 per share as the price band was 51-59 per share.

Bharti Airtel pronounces 2 new CEOs for consumer industry

In the latest development, telecom major Bharti Airtel declared the selection of new CEOs for its broadband and direct-to-home (DTH) services.

Infosys reveals talent management platform TalenEdge

IT major Infosys Technologies at the moment revieled TalentEdge, a full talent management platform that helps lessen the operational costs of firms.

China July car sales increase 6.7 percent; India down piercingly

Car sales in China elevated at 6.7 percent in July from the previous year, broadening a pattern of subdued progress in the globe’s biggest auto market as the weak auto selling season kicks in.

India targets $6 billion - $7 billion venture in Belarus potash miner

India is aiming to obtain a 20-25 percent venture in Belarus-base Belaruskali, one of the globe’s biggest manufacturer and suppliers of potash, in an agreement that could be valued at $ 6 billion - $ 7 billion, according to an account on Wednesday.

Fortis to purchase 65 percent venture in Vietnam hospital chain for USD 64 million

Fortis Healthcare International, the holding firm of India’s billionaire Singh brothers in Singapore, has told on Wednesday it will purchase a 65 percent venture in Vietnam’s Hoan My Medical Corp for $ 64 million.

Local car sales plunges 15.76 percent, bikes 10.51 percent increase in July

Local passenger car sales have plunged for the first time following 30 months of incessant progress, registering a 15.76 percent turn down in July this year mainly because of increases on lending rates and lower production by market leader Maruti Suzuki during the month.

Suzlon energy obtains Rs 483 crore worth orders in India

In the latest development, wind turbine manufacturer Suzlon Energy has obtained 85 mega watt worth of purchases valued at Rs 483 crore from different firms in India.

The disposition among shareholders shows indications of improving as “bargain hunters” push Wall Street further. But traders had to bear tremendous in

The disposition among shareholders shows indications of improving as “bargain hunters” push Wall Street further. But traders had to bear tremendous instability as markets search for equilibrium after a number of sessions of heavy risk asset selling.


Cairn qualms on India oil fields sale

London-listed Cairn Energy has cast disbelief over the Indian administration’s pushy timetable to have new conditions as an alternative for its suggested $ 6.5 billion sale of Rajasthan oil fields to Vedanta Resources, the global resources firm.

Reliance Communication brings price war to 3G space with Rs 12,999 tablet

Reliance Communication at the moment opened a bundled firm-labeled and Android-based tablet with video calling facility at Rs 12,999, nearly 40 percent lesser than any same gadget available in the market at the moment.


BSE Sensex harshly stumbles 1.82% as trading downgrade witnessed today

The BSE Sensex lost 315.69 points or 1.82% to settle at 16,990.18, its lowest closing level since 10 June 2010. The Sensex lost 546.42 points at the day's low of 16,759.45 in morning trade. The index fell 58 points at the day's high of 17,247.87 in afternoon trade.

The S&P CNX Nifty was down 92.75 points or 1.78% to 5,118.50, its lowest closing level since 10 June 2010. The Nifty hit a low of 5,054.05 in intraday trade. The Nifty hit a high of 5,204.20 in intraday trade.

The BSE Mid-Cap index fell 1.52% and outperformed the Sensex and the BSE Small-Cap index dropped 2.23% and underperformed the Sensex.

The total turnover on BSE amounted to Rs 2980 crore, lower than Rs 3364.70 crore on Friday. 5 August 2011.

Market Breadth:

Positive 672 Negative 2196 Unchanged 78
From the 30 share Sensex pack, 24 fell and rest rose.

SMC ventures neutral on Tree House IPO

In the latest development, public offer of Tree House Education and Accessories, an education services provider, will launch for investment in August 10 -12, 2011.

Brooks Labs Rs 63 crore IPO to launch on August 16

The Rs 63 crore initial public offering of pharmaceutical firm Brooks Laboratories will launch for subscription between August 16 and August 18, 2011. The firm has arranged the price band at Rs 90-100 per share.

Fertilizer stocks obtain decontrol heighten; specialists tells to buy

Fertilizer stocks such as Rashtriya Chemicals and Fertilizers, Chambal Fertilizers, Nagarjuna fertilizer and National Fertilizers gushed 2-5 percent Monday following a group ministers led by Finance Minister Pranab Mukherjee late last week cleared an offer to free urea costs.

Glenmark Pharma submits intercession claim for Crofelemer

Indian drug manufacturer Glenmark Pharmaceuticals at the moment has told on Monday it has submitted for settlement claims against its partner Napo Pharmaceuticals to stop the latter from allocating an HIV-associated drug in Glenmark’s territories via relief agencies.

India’s fundamental sturdy, FM says

Seeking to alleviate alarms in the wake of the economic predicaments in the US, Finance Minister Pranab Mukherjee at the moment has told that India’s fundamentals are sturdy and the nation is in a better position than other countries to reach the challenge even if there might be some effect.

FDI into India soars 310 percent to log USD 5.65 billion in June

Foreign Direct Investment (FDI) into India witnessed a whopping 310 percent augmentation in June to $ 5.65 billion, the highest monthly inflow in the last 11 fiscal years, signifying the revival of shareholder confidence in the Indian economy.

Coal India tells that anticipates administration’ approval for foreign purchases

Coal India, the globe’s biggest coal miner, is in discussions for one acquirement each in Indonesia, Australia and the United States, according to its chairman on Monday, putting in it would just proceed after obtaining the green signal from the administration.


US relegation not a cause of panic, Kaushik Basu says

A rating relegation of the United States, by Standard & Poor’s, is not a cause of panic, according to Chief Economic Adviser to Finance Ministry Kaushik Basu on Monday.

New urea guidelines a right action for India, FAI says

The new urea policy is regarded as a benefit for farmers and fertilizer retailers. Urea firms will obtain nutrient-based subsidy (NBS) and permitted to increase by 10 percent in first year, the new urea policy says.


Cairn approves all administration conditions for Vedanta venture sale

Following rejection for nearly a year, UK’s Cairn Energy Plc has told that it will accept all riders the administration has affixed for providing sanction to its venture sale in Cairn India to mining group Vedanta Resources.

RBI To guarantee forex, rupee liquidity

The Reserve Bank of India has told on Monday it would guarantee sufficient rupee and forex liquidity were maintained in the local market to stop excess instability in interest rates and exchange rates.


BSE Sensex severely drops 2.19% as market ends week in downturn

The BSE Sensex tumbled 387.31 points or 2.19% to settle at 17,305.87, its lowest closing level since 11 June 2010. The Sensex lost 702.27 points at the day's low of 16,990.91 in early afternoon trade. The index fell 335 points at the day's high of 17,358.18 in mid-morning trade.

The S&P CNX Nifty was down 120.55 points or 2.26% to 5,211.25, its lowest closing level since 14 June 2010. The Nifty hit a low of 5,116.45 in intraday trade.

The BSE Mid-Cap index fell 2.16%, outperforming the Sensex. The BSE Small-Cap index declined 3.08%, underperforming the Sensex.

All the 13-sectoral indices on BSE posted losses. The BSE IT index (down 3.93%), the BSE TecK index (down 3.38%), and the BSE Realty index (down 3.13%), underperformed the Sensex. The BSE PSU index (down 1.15%), the BSE Healthcare index (down 1.48%), and the BSE Oil & Gas index (down 1.48%), outperformed the Sensex.

The total turnover on BSE amounted to Rs 3352 crore, higher than Thursday's Rs 2949 crore.

Market Breadth:

Positive 609 Negative 2364 Unchanged 64
From the 30 share Sensex pack, 26 fell and rest rose.

SRS 3.5 shares IPO to launch on August 23

SRS, diversified firm having businesses such as cinema exhibition, food and beverages, retail and manufacturing and retailing of jewelry, is coming into capital market with an initial public offering (IPO) of 3.5 crore equity shares on August 23, 2011, by diluting 25.13 percent venture.

Indian medical tourism to reach Rs 10,800 crore by 2015, Assocham says

Market size of the Indian medical tourism sector is expected to more than twofold to Rs 10,800 crore by 2015 from Rs 4,500 crore to present, business, chamber Assocham at the moment has told in its research.

NPPA increases costs of 62 formulations packs of medicine

The administration at the moment has told that the costs of 62 formulation packs have been augmented by the National Pharmaceuticals Pricing Authority (NPPA) according to applications of the various producers.

Handicrafts trades increase to 29 percent in July

Handicrafts trades leaped by more or less 29 percent year-on-year to $ 155 million in July on the rear of increase in demand not just from the western markets but as well as from new markets such as Middle East and Latin America.

Kingfisher re-establishes flying allowance on alarms of mass departure

Following much consideration, Kingfisher Airlines (KFA) has re-established the original salary structure of its pilots. In the previous month, the airline unexpectedly notified pilots that their flying hour allowance would be trimmed down from more or less 55 hours to 40.

Shareholders selling in panic, market revival imminent, administration says

Pointing the stock market collapse to panic selling by shareholders, the administration at the moment has told that the Indian bourses would revive soon as essentials of the economy stayed tough.

TCS aims Rs 2,300 crore caperx for Fiscal Year 2012

Nation’s biggest IT software company Tata Consultancy Services (TCS) has allocated a capital expenditure of Rs 2,300 crore for 2011-12 financial year. The firm would mull investments or acquirement prospects in some of the market sectors as and at the time they augment, as per the minutes of AGM submitted by TCS to the Bombay Stock Exchange.

More than 80 percent venture capitalists are telling that home IPO activity is too stumpy

Venture capitalist from all over the globe are telling that the recent rate of IPO activity is too stumpy to aid the health of the venture capital business in their respective nations, according to a disclosed new report.

Demonstration interrupts normal banking operations

Banking operations have been affected in different region in the country at the moment as employees of public sector and old sector banks participate on a day-long demonstration in disapproval of banking sector amendments.

Federal Bank to negotiate Indo-UAE venture alliance

Federal Bank is ready to tap the latent of the quick progressing India-UAE venture corridor with an assortment of services such as ‘business matchmaking’, according to a prominent bank representative.

Past Goldman director Rajat Grupta, SEC to drop lawsuit

Past Goldman Sachs Group Inc. director Rajat Gupta and the US Securities and Exchange Commission are dropping lawsuit against each other branching from extensive federal insider trading investigation.

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