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Sunday, September 7, 2008

20 Micron IPO opens on 8th September

20 Microns Limited, a pioneer and leader in the micronised minerals has fixed the price band between Rs 50 and Rs 55 per equity share for its IPO of 43,50,632 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building Process.

The issue consists of a fresh issue of 16,75,000 equity shares of Rs 10 each and an offer for sale of 26,75,632 equity shares by Gujarat Venture Capital Fund 1995. 2,17,532 equity shares are kept reserved for subscription by eligible employees. The issue will constitute 30.81 per cent of the post-issue paid up capital of the company.

The company intends to utilise the proceeds of the fresh issue in the IPO towards the current ongoing expansion plans of the manufacturing capacities at various locations, invest in the sub-micron particle sizes required by end-market and general corporate purposes.

The equity shares are proposed to be listed on BSE and NSE.

20 Microns Limited is one of the India’s largest producers of white minerals with an annual turnover of over 1,80,000 tonnes from plants and deposits spanning in different regions of the country producing functional fillers, specialty chemicals and extenders, which are supplied globally. The Company has four different captive mines and eight manufacturing locations spanned over the country with total mineral reserve of 60,00,000 metric tonnes. Currently, it has about 70 international customers based in 30 countries utilising 450 product grades, which are in addition to approximately 700 local customers spread across India.

Friday, July 25, 2008

Vishal Information Technologies subscribed 1.19 times

The IPO of Vishal Information Technologies, a company in the field of IT Enabled Services / BPO services and a subsidiary of Tutis Information Technologies received total bids for 33,28,760 equity shares. Bids were invited for total issue size of 27,90,000 equity shares. It subscribed 1.19 times. The Issue consisted of fresh Issue of 17,90,000 Equity shares and an offer for sale of 10,00,000 Equity shares by "Selling shareholders".

The Issue will constitute 26.12% of the fully diluted Equity share capital of the Company. Credit Analysis and Research (CARE) has assigned "IPO Grade 3" to the Issue. The Equity shares are proposed to be listed on BSE and NSE. Keynote Corporate Services and IDBI Capital Market Services are the BRLMs for the Issue.

Presently the Company operates from leased facilities in Chennai and Mumbai with approximately 475 workstations. As part of the expansion plans, the Company intends to set up new facilities to support the increase in business from existing and new clients. It proposes to buy an office space of approximately 15,000 sq. ft. at Special Economic Zone (SEZ) in Chennai. The Company gets its business mainly from the United Kingdom and United States of America through tenders floated by the various government authorities, educational institutes, etc. Presently it does not have any presence in the UK and USA which many a times acts as hindrance for getting the work allotted. It feels that its offshore presence in the form of a subsidiary company would enable Vishal’s participation in the bidding process more active and fruitful. The various other marketing activities for Vishal would also be carried out from these subsidiaries.

Friday, July 18, 2008

BASF raises Buy-Back price to Rs 300 per share for 6.3 mn shares

BASF India Ltd is going to acquire upto 6,289,591 full paid-up Equity Shares, constituting 22.31% of the Voting Capital of BASE India Ltd at a price of Rs 300 (the "Revised Office Price) per Equity Sharein accordance with Regulation 26 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 1997. The decision was taken by Committee of Directors of BASF SE and later it has been informed to BSE. Earlier, the company offered Rs. 274 per Equity Share. BASF SE would pay such Revised Offer Price for all the Equity Shares validly tendered any time during the Offer period and accepted under the Offer.

Tuesday, July 15, 2008

Vishal Information Technologies Limited IPO Opening

About the company:

The Company incorporated in 1994 as a Subsidiary firm of Tutis Technologies (Biometric Products, Software Development and consulting). Its branches are in Mumbai and Chennai. Representative office: UK and UAE.

Special points: Its among the first few companies to venture in the field of ITES/BPO services. Pioneers in the concept called “Digital Library for Visually Impaired and Blind” in respect of Classic series. Business: Data digitization, E-publishing and digital library, Print on Demand (POD)

Objects of the Issue

  • To finance the cost of expansion of the facilities in Chennai;
  • To finance the cost of setting up of Quality Assurance Center and Marketing office in Mumbai;
  • To set up a subsidiary in the United Kingdom and United States of America;
  • General Corporate Purposes;
  • Meeting the Public Issue Expenses.

Important Points:

  • Opening on: 21-Jul 2008
  • Closing on: 24-Jul 2008
  • Size (Equity Shares): 27,90,000
  • Type: 100% Book Built Issue (Initial Public Offer IPO)
  • Face Value: Rs. 10/-
  • Price Rang/ Price Band: Rs 140 to Rs 150

Monday, May 5, 2008

Adani Power plans IPO of Rs. 5000/- Crores

Adani group is preparing to come up with a initial public offering (IPO) to raise about Rs 5,000 crore for setup a power generation capacity of close to 10,000 megawatt. The company is drawing investments plans for generating 1,320 mw power in Rajasthan and 2,000 mw at Dahej in Gujarat by 2012. Adani will file the IPO papers with the market regulator SEBI in a week or two's time. SBI Capital has been roped in as one of the merchant bankers.

Adani's 4,620 mw power project at Mundra is being set up in the vicinity of Tata Power's ultra mega power project (UMPP) of 4000 mw. The company is already implementing the project through internal fund generation, debt and private placement of equity with London-based 3i Group Plc.

Adani also owns and operates country's one of the largest and highly mechanised state-of-art-ports at Mundra in Gujarat, which is likely to handle close to 30 mmt of cargo during 2007-08.

The power plants of Adani and Tata at Mundra will be based on imported coal. The coal requirements for these plants will be near 26 mmt. This coupled with other commercial coal imports will make Mundra the world's largest coal receiving terminal with capability to handle over 30 mmt of coal.

Tuesday, April 29, 2008

Gokul Refoils and Solvent IPO to open May 8, 2008

Gokul Refoils and Solvent plans to enter the capital market on May 8 with its initial public offering of 71,58,392 equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process.

The company has fixed a price band of Rs 175-Rs 195 per share. The issue will close on May 13.

The issue comprises a reservation of upto 75,000 equity shares for employees and a net issue to the public of 70,83,392 equity shares. The issue will constitute 27.14 per cent of the fully diluted post issue paid-up capital of the company.

Qualified institutional buyers shall be allocated 50 per cent of the issue. From and out of the QIB portion 5 per cent for mutual funds, 15 per cent to non-institutional bidders and 35 per cent to retail investors.

The company is primarily engaged in the business of solvent extraction, refining of edible oils and vanaspati manufacturing. At present the company has 680 TPD of seed processing, 600 TPD of solvent extraction, 1200 TPD of refining and 200 TPD of vanaspati manufacturing capacities.

The company plans to utilize the proceeds for - setting up a new 1500 TPD Soyabean processing plant near Gandhidham, Gujarat; expansion of the existing edible oil refinery at Surat; investment in Singapore subsidiary; funding part of the long term working capital; brand building activities; investment in increasing warehousing capacities and continuous capex for existing units; general corporate purposes and for public issue expenses.

ICRA has assigned Grade "3/5" to the IPO. The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the issue are Anand Rathi and Intensive Financial Services.

Anu's Lab files DHRP with SEBI for IPO

Hyderabad-based Anu's Laboratories has filed draft red herring prospectus with Sebi to raise around Rs 800 million from the capital markets.

Anu's Labs is the market leader in producing or DCFA, which is a key intermediate for ciprofloxacin (a synthetic antibiotic). The company has over 60% market share in the country.

The company plans to deploy the proceeds raised from the initial public offering to set up an intermediary plant and contract research facility at Pharma City at Visakhapatnam.

Monday, April 28, 2008

RITES to hit capital market in September

RITES, the technical wing of the Indian Railways, are all set to hit the market in September. The public sector unit would mop up Rs 500 crore through an initial public offering (IPO), which would be 10% of the company’s paid-up capital. The intention is for various arms of the Railways to raise fresh capital through public issues that would generate funds for mega projects such as the dedicated rail freight corridor. Also in the works is a proposal to mop up another Rs 300-350 crore through an IPO by Ircon — Railways’ in-house construction company — that is also likely to be floated this year. A Cabinet note pertaining to the proposed RITES IPO has been sent to various ministries. According to sources, the proposal has been approved by the disinvestment department. Once approved by the Cabinet, it would pave the way for RITES going in for a public issue. Earlier, there was a proposal to disinvest the government’s stakes in the Railways-owned PSUs. However, after Prime Minister Manmohan Singh put a freeze on disinvestment proposals following a ruckus over the Neyveli Lignite Corp selloff, the Railways have decided to go the Power Finance Corp way. The power PSU, instead of divesting its stake, raised Rs 1,000 crore through a public issue. A similar move to disinvest the government stake in both the rail PSUs was also initiated by the disinvestment minister Arun Shourie in 2002, but it was turned down by the then-railways minister Nitish Kumar on the ground that the PSU was a profit-making one and self-reliant. “RITES need funds to finance growth and expansion. Therefore, the best way to mop up funds by not violating the UPA government’s agenda is the IPO route,” a senior Rail Bhawan official told ET. Experts in the Railways are of the view that the IPOs from the rail PSUs could be a huge success riding on the back of enormous profits shown by the Railways for two successive years. RITES registered a quantum increase of 78% and 95% respectively in turnover and profits during the year ended March 31, 2006. Turnover and pre-tax profit was at Rs 426 crore (previous year: Rs 240 crore) and Rs 133 crore (Rs 68 crore) respectively, the highest achieved by the company. Domestic business has grown 51% from Rs 170 crore in the previous year to Rs 257 crore. The overseas business achieved a turnover of Rs 137 crore, registering a growth of 163%. Ircon’s IPO is at a less advanced stage. It is understood that a formal Cabinet note is yet to be prepared. However, officials say a Rs 300-350 crore IPO is likely this year after the RITES IPO goes through, reports The Economic Times. source: moneycontrol.com

Wednesday, April 9, 2008

Aishwarya Telecom's IPO on 15 April 08

Aishwarya Telecom is a ISO 9001:2000 Certified company manufacturing Fibre optic test equipments & Cable fault locators. It provides services nation-wide to organizations in business, industry & government.Aishwarya Telecom Limited is entering in the capital markets with an initial public offering, IPO of 52,00,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs. 32/- at lower level and Rs. 35/- at upper level for equity share of Rs. 10/-. The issue opens on Apr 15, 2008, and closes for subscription on Apr 17, 2008.

Friday, April 4, 2008

RITES IPO: files DRHP with SEBI.

RITES, a Government of India Enterprise, is a multi-disciplinary ISO 9001 consultancy organization with extensive resources and the ability to deliver results, right on time. Been in business for more than a quarter of a century, RITES has scaled heights in different sectors of consultancy, starting first with railways, mostly abroad and later to other transportation sectors both in India and outside. We have since over the decades graduated to other infrastructure sectors.Presently, RITES has more than 40 on-going projects in various countries, worldwide.

RITES has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market soon with an initial public offering (IPO) of 140,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

source: rupya.com

NHPC's IPO in Second quarter

National Hydroelectric Power Corp (NHPC) plans to launch an initial public offering in the second quarter of the current financial year. “We will be going to the market shortly. We are planning an IPO during the second quarter of this fiscal,” Mr S.K. Garg, Chairman and Managing Director, said here at an industry conference. NHPC, which has a paid-up capital of Rs 11,500 crore, is likely to come out with a public offer of 167 crore shares , which would add 10 per cent as fresh equity besides five per cent disinvestment. The shares would be face value of Rs 10 each. The issue, which was earlier slated to hit the market during the previous fiscal, got delayed since the company did not have the requisite number of independent directors on its board. source: moneycontrol.com

Friday, February 1, 2008

Future Capital IPO got listed; Ends at 19% premium

Future Capital Holding (FCHL), the financial services arm of the Future Group, is the first listed stock in the year 2008. The stock surged to a high of Rs 1081 before closing the day at Rs 909.80, premium of 18.93% over its offer price of Rs 765. It has been remained in the range of Rs 825-900 for the whole day. It opened at Rs 1081 on the NSE and touched a low of Rs 825. It traded with volumes of 1,25,42,842 shares and turnover was at Rs 1104 crore.

On the BSE, the stock started the day at Rs 1044 and touched a high/low of Rs 1100 and Rs 826.10, respectively. It ended at Rs 908.20, with volumes of 88,82,244 shares.

Samir Sain, CEO of Future Capital Holdings, sees a scale up in business over the next two years. The revenues from consumer finance and distribution business is likely to come in three years. They plan to set up 500-700 outlets in 3-4 years.

The company had come out with its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each at a price band of Rs 700-765 per share. The issue was subscribed to approximately around 133 times.

source: moneycontrol.com

Emaar MGF revises IPO price band at Rs 540-630

Emaar MGF Land, a joint venture between one of the world’s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development Limited of India, has refixed the price band to between Rs 540 and Rs 630 per equity share of Rs 10 each from the earlier price band of between Rs 610 to Rs 690 per equity share for its initial public offering of 102,570,623 equity shares for cash at a price to be determined through a 100% book building issue.

The price band has been refixed considering the prevailing market sentiments and the developments in the financial markets in India and globally. There will be no change in the bidding period, which will open on February 1, 2008 and close on February 6, 2008 as scheduled.

Emaar MGF commenced operations in India in February 2005 with the mission of being a real estate development company striving to develop and deliver unique integrated lifestyle and work place environments and planned developments. The primary business is the development of properties in the residential, commercial, retail and hospitality sectors. In addition, it has also identified healthcare, education and infrastructure as business lines for future growth. Its operations span across various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution.

As disclosed in the Red Herring Prospectus, the issue proceeds will be used for part payment towards the acquisition of land and land development rights and related approvals for its ongoing and planned projects, the development and construction costs for project Palm Drive in Gurgaon and repayment of loans.

The equity shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange of India. The global co-ordinators and book running lead managers to the issue are Enam Securities Private Limited and DSP Merrill Lynch Limited. The book running lead managers are Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited and ICICI Securities Limited.

source: moneycontrol.com

Thursday, January 31, 2008

Future Capital IPO to List on 1st February 2008.

Future Capital IPO Listing Date has been fixed. In an anoouncement made with the stock exchanges, the registrar to the IPO has informed that the Future Capital IPO Listing Date has been fixed as Friday, February 01, 2008.

Future Capital IPO Listing is expected at a huge premium to the IPO issue price of Future Capital Limited because of very heavy oversubsription of the IPO. The exact listing price of Future Capital IPO will be updated here on Friday, February 01, 2008.

Reliance Power IPO Allotment Information

Anil Ambani's Reliance Power has got 4.3 million investors after its larget IPO in Indian capital market history subscription. But each investor, who has applied for the issue, will get only 15 shares each in IPO.

4 lakh investors, who have applied for less than 225 shares, will not get any allotment. 3 lakh applications disqualified.

Share allocation process will end today. Excess share application money refund will begin on Friday.

Reliance Power, Anil Dhirubhai Ambani Group Company, had come out with an IPO of 22.8 crore shares with face value of Rs 10 each at a price band of Rs 405-450. Its issue had received an excellent response and subscribed 73.04 times and received bids worth about Rs 7.5 lakh crore.

The reserve portion of QIBs subscribed 83 times and non institutional investors 190 times and retail nearly 15 times.The issue received bids for 16.65 billion equity shares as against 22.8 crore shares on offer.

The company raised nearly Rs 10260 crore from this public issue excluding promoters’ contribution.

Wednesday, January 23, 2008

Future Capital IPO Allotment Information

Future Capital IPO Allotment chances look very less to the retail investors because of the heavy subscription the IPO has generated. Future Capital IPO Allotment basis will be a lottery system for the retail investors and there would be very less allotment in the retail side. Investors who receive Future Capital IPO Allotment will definitely make good profits on the listing day as the Grey market premium of the Future Capital IPO is close to Rs 550. Allotment in Future Capital IPO will be available in the last week of January and the listing of Future Capital IPO is expected in the first week of February.

More information regarding the Future Capital IPO Allotment Status and the Listing date will be updated later.

Tuesday, January 22, 2008

Emaar MGF IPO opens on Feb 01, price band Rs 610-690

Emaar MGF Land, a joint venture between one of the world’s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development Limited of India, is entering the capital market with an initial public offering (IPO) of 102,570,623 equity shares of face value Rs 10 each for cash at a price to be determined through a 100% book building issue.

The issue will open for subscription on February 01, 2008, and will close on February 6, 2008. The price band has been fixed between Rs 610 and Rs 690 per equity share.

The issue has been assigned an IPO grading of 4 out of a possible 5 by the rating agency, CARE, a credit rating agency registered with the Securities and Exchange Board of India. The 4/5 CARE grading reflects 'above average’ fundamentals of the company.

At least 60% of the issue shall be allocated on a proportionate basis to qualified institutional buyers (QIBs), out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 10% of the Issue shall be available for allocation on a proportionate basis to non institutional bidders and not less than 30% of the issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid Bids being received at or above the issue price.

As of December 31, 2007, Emaar MGF had land reserves across India measuring to approximately 13,024 acres out of which it has development plans for approximately 12,028 acres, which in turn, is expected to provide it with a proposed saleable area of approximately 566 million square feet. The company estimates that its land reserves will provide it with a proposed saleable area of approximately 136.5 million square feet of plotted residential development (including built up villas); 318.8 million square feet of built up residential properties; 88.9 million square feet of commercial properties; 18.0 million square feet of retail properties; and 4,960 keys in hospitality properties as of December 31, 2007.

The issue proceeds will be used for part payment towards the acquisition of land and land development rights and related approvals for its ongoing and planned projects. The issue proceeds will also be used for the development and construction costs for project Palm Drive in Gurgaon. Palm Drive is a high quality residential development designed for “contemporary living in a green sanctuary setting” and is expected to include amenities such as a clubhouse, health club and parks. The development is within 20 kilometres of Delhi’s international airport.

For the six months ended September 30, 2007, the consolidated total income was Rs 5,017.4 million and the consolidated net profit was Rs 1,298.3 million.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. The global co-ordinators and book running lead managers to the Issue are Enam Securities Private Limited and DSP Merrill Lynch Limited. The book running lead managers are Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited and ICICI Securities Limited.

ISSUE OPENS: February 01, 2008

ISSUE CLOSES: February 6, 2008.

PRICE BAND: From Rs 610 to Rs 690 per equity share.

Friday, January 18, 2008

Reliance Power IPO subscribes 47 times

Reliance Power Ltd's public issue has so far generated demand for shares worth more than $123 billion (Rs 4,84,227 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO. The IPO received bids for 1,076.06 crore shares as against the 22.8 crore shares on offer, getting subscribed over 47.20 times so far, according to data available on National Stock Exchange till 1300 hrs. The public offer has already set a number of records, including the highest amount to be raised at Rs 11,700 crore and the maximum demand generated. The previous biggest IPO in terms of funds raised was real estate firm DLF that mopped up over Rs 9,000 c rore, while the public issue of Adani's Mundra Port and SEZ Ltd had generated a demand of shares worth more than Rs 200,000 crore. The company is offering equity shares at a price band of Rs 405-450 per share. The issue had opened on January 15 and clos es today. The total size of the IPO is 26 crore shares, including promoters' contribution of 3.2 crore shares. The net issue to the public is 22.8 crore shares. Reliance Power has a diversified portfolio of 13 medium and large-sized power projects under development and strategically located at various places across India, according to the company. source: Hindu

OnMobile Global IPO - OnMobile Global IPO opens on January 24th 2007

OnMobile Global, a leading provider of telecommunications value added software products and services in India with an expanding international presence will enter the capital market with an initial public offering of 10,900,545 equity shares of Rs 10 each for cash at a price to determined through a book building process. Issue Date The issue will open on January 24 till January 29, 2008. Price Band The price band has been fixed between Rs 425 and Rs 450/equity share. Issue Detail The company is proposing a fresh issue of 8,613,356 equity shares and an offer for sale of 2,287,189 equity shares by Onmobile Systems Inc. The issue would constitute 18.99% of the fully diluted post issue paid-up capital of the company.

Thursday, January 17, 2008

Indian Stock Market Tips for January 17, 2008

  • Future: BUY POWGRI (POWER GRID) JAN FUTURES CMP 142.15 Target 148 and 151 StopLoss 138.1
  • Future: BUY BOMDYE (BOMBAY DYEING) JAN FUTURES CMP 938 Target 970 and 990 StopLoss 910
  • Future: BUY STABAN (SBI) JAN FUTURES CMP 2443 Target 2480 and 2510 StopLoss 2415.1
  • Book Partial Profit: BHEL JAN FUTURES at 2681
  • Future: BUY WELGUJ (WELSPUN GUJARAT) JAN FUTURES CMP 517.5 Target 527 and 533 StopLoss 512.1
  • Exit: INFTEC (INFOSYS TECHNOLOGY) at 1509
  • Exit: SAIL at 249 Margin: BUY LANINF (LANCO INFRATECH) CMP 714.8 Target 735 and 748 StopLoss 701.1
  • Margin: BUY INFTEC (INFOSYS TECHNOLOGY) CMP 1520 Target 1545 and 1560 StopLoss 1495.1
  • Future: BUY BHEL JAN FUTURES CMP 2362 Target 2390 and 2420 StopLoss 2345.1
  • Margin: BUY SAIL CMP 249.1 Target 254 and 258 StopLoss 246.1
  • Margin: BUY NTPC CMP 262 Target 267 and 271 StopLoss 257.1
  • Margin: BUY APOTYR (APOLLO TYRES) CMP 56 Target 58.8 and 60 StopLoss 54.1
  • Exit: NIFTY JAN FUTURES at 5900
  • Margin: BUY IDFC CMP 224.5 Target 229.5 and 233 StopLoss 221.1
  • Future: BUY NIFTY JAN FUTURES CMP 5926 Target 5950 and 5975 StopLoss 5895
  • Nifty Support at 5850 and resistance at 5984 Spot.
  • Margin: BUY BANIND (BANK OF INDIA) CMP 451 Target 458 and 463 StopLoss 446.1
  • Margin: BUY RENSUG (RENUKA SUGAR) CMP 1242 Target 1275 and 1295 StopLoss 1225.1
  • Margin: BUY BAJHIN (BAJAJ HINDUSTAN) CMP 321.5 Target 329 and 334 StopLoss 316.1

Wednesday, January 16, 2008

Future Capital IPO oversubscribed 116 times

The initial public offer of Kishore Biyani-led Future Capital Holdings has been receiving overwhelming response since day one. Its issue has subscribed 100 times, according to sources. Public issue received bids for 62.31 crore equity shares as against 64.22 lakh shares on offer. Major response was seen from qualified institutional investors, whose reserved portion subscribed 106.26 times followed by 26.56 times in retail and 32.50 times in HNIs category. The public offer expects to raise up to Rs 490 crore. The proceeds would be deployed in the company's consumer credit business - Future Money - which was launched in June 2007. The price band for the IPO is between Rs 700-Rs 765. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. The issue would constitute 10.16 per cent of the post-issue paid-up capital of the company. source: moneycontrol.com

Friday, January 11, 2008

Future Capital Holdings IPO opens for subscription

Future Capital Holdings (FCHL), the financial services arm of the Future Group, is open for subscription with its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The issue will close for subscription on January 16, 2008. It has fixed the price band between Rs 700 and Rs 765 per equity share. The issue would constitute 10.16% of the post-issue paid-up capital of the company. FCHL's three primary lines of business are investment advisory services, retail financial services and research. Currently, the two main retail financial services products are consumption loans and personal loans. FCHL will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the "Future Card", a credit card offering loyalty points. The objects of the issue are to augment capital base to meet the future capital requirements arising out of growth and for other general corporate purposes including meeting the expenses of the issue. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange. The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited. source: moneycontrol.com

Thursday, January 10, 2008

Indian Stock Market Tips for January 10, 2008

  • Book Partial Profit: BAJHIN (BAJAJ HINDUSTAN) at 390
  • Book Partial Profit: POWGRI (POWER GRID) at 144.7
  • Margin: BUY RELIND (RELIANCE INDS) CMP 3068 Target 3095 and 3115 StopLoss 3050.1
  • Margin: BUY BSES (RELIANCE ENERGY) CMP 2595 Target 2635 and 2655 StopLoss 2575.1
  • Margin: BUY PARDE (PARSHVANATH DEVELOPERS) CMP 526.5 Target 536 and 542 StopLoss 521.1
  • Future: BUY RENSUG (RENUKA SUGAR) JAN FUTURES CMP 1266 Target 1298 and 1315 StopLoss 1250.1
  • Margin: BUY BAJHIN (BAJAJ HINDUSTAN) CMP 383 Target 396 and 405 StopLoss 377.1
  • Margin: BUY POWGRI (POWER GRID) CMP 143.5 Target 146.8 and 148 StopLoss 141.1
  • Exit: HDIL at 1405
  • Margin: BUY DISHTV (DISH TV) CMP 94.25 Target 97 and 98.5 StopLoss 92.1
  • Margin: BUY DLFLIM (DLF LTD) CMP 1190 Target 1215 and 1235 StopLoss 1175.1
  • Margin: BUY HDIL CMP 1420 Target 1449 and 1465 StopLoss 1405.1
  • Margin: BUY NTPC CMP 279 Target 285 and 288 StopLoss 276.1
  • Margin: BUY RELCOM (RELIANCE COMMUNICATION) CMP 833 Target 842 and 847 StopLoss 828.1

Wednesday, January 9, 2008

Subscribe to Reliance Power IPO: Hem Securities

Hem Securities has come out with report on Reliance Power IPO. It has recommended subscribing the issue. Reliance Power is planning to raise around Rs 10,530-11,700 crore from its initial public offering (IPO) of 26 crore equity shares with a face value of Rs 10, for cash, a price decided through 100% book building process. The price band has been fixed at Rs 405-450 per share. Hem Securities report on Reliance Power IPO Business Profile Reliance Power (RPower), originally incorporated as Bawana Power Private Limited, is part of the Reliance Anil Dhirubhai Ambani Group and is currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW. The identified project sites are located in western India (12,220 MW), northern India (9,080 MW), northeastern India (2,900 MW) and southern India (4,000 MW). The projects include seven coal-fired projects (14,620 MW) to be fuelled by reserves from captive mines and supplies from India and abroad, two gas-fired projects (10,280 MW) to be fueled primarily by reserves from the Krishna Godavari Basin (the “KG Basin”) off the east coast of India, and four hydroelectric projects (3,300 MW), three of them in Arunachal Pradesh and one in Uttarakhand. Company intends to sell the power generated by these projects under a combination of long-term and short-term PPAs to state-owned and private distribution companies and industrial consumers. In addition to the 28,200 MW of power projects, company intends to develop additional power projects to help meet the huge demand in this sector. Company is considering the development of CBM (Coal Bed Methane) power generation projects based on fuel from CBM blocks being explored by a consortium that includes company’s affiliates. Company also intends to invest in overseas opportunities that are a strategic fit with company’s business. Company intends to explore the possibility of registering certain of its projects with the Clean Development Mechanism executive board for the issuance of carbon emission reduction certificates that company may sell. The company has subsidiaries viz SPL, CAPL, MPPGL, RPSCL, MEGL, VIPL, USHPPL, THPPL, SHPPL and KPPL. Projects of an aggregate generation capacity of 24,600 MW were bid and secured by the Company in its own name. Of this Dadri Project of 7,480 MW is being developed by the Company and the Projects of 17,120 MW are being developed through subsidiaries. Valuation The company is the primary vehicle for investments in the power generation in Reliance ADA group. The company has entered and intended to enter into various arrangements with companies of Reliance ADA group, including REL, RNRL and Reliance Energy Transmission. This will help the company in drawing upon the considerable expertise and resources these affiliates have in the energy sector. As the company is in project implementation phase hence meaningful earnings likely to kick in later years. After commissioning of these proposed projects over next few years the company would be among one of the major power producing company in India. The company enjoys the lower risk due to its well diversified project portfolio comprising of coal , gas and hydro. The company with its strategies like lower cost of generation, fast completion of projects and efficient operations looks an attractive issue to deploy the funds. Investor can “Subscribe” the issue. source: moneycontrol.com

Indian Stock Market Tips for January 9, 2008

  • Margin :BUY RELCOM (RELIANCE COMMUNICATION) CMP 806 Target 815 and 821 StopLoss 801.1
  • Margin :BUY BSES (RELIANCE ENERGY)_ CMP 2580 Target 2610 and 2630 StopLoss 2565.1
  • Margin :BUY BANIND (BANK OF INDIA) CMP 379.5 Target 389 and 394 StopLoss 375.1
  • Margin :BUY INFTEC (INFOSYS TECHNOLOGY) CMP 1685 Target 1705 and 1720 StopLoss 1675.1
  • Margin :BUY WIPRO (WIPRO) CMP 498 Target 508 and 513 StopLoss 494.1
  • Stock on the Move :BUY IDFC CMP 225 Target 236 and 242 StopLoss 218 Horizon 15 days
  • Stock on the Move :BUY MARUTI (MARUTI UDYOG) CMP 934 Target 981 and 999 StopLoss 906 Horizon 15 days
  • Stock on the Move :BUY WIPRO (WIPRO) CMP 488 Target 512 and 522 StopLoss 474 . Horizon 15 days

Tuesday, January 8, 2008

Tips for Investing in 2008

2006 was the year when the Sensex conquered many milestones in its upward journey but not without a major fall in May 2006. 2007 was yet another fabulous year with the Sensex scaling newer peaks right from 14000 to 20000. What is more surprising is that the stellar returns of 40% plus came on the back of high base. Besides the Sensex’s upswing, there were several other things that became the talk of the nation with some of them directly or indirectly causing the Sensex to swing in either directions and thus providing entertainment to the general public.

  • FII Inflows & Pullouts
  • Dollar Depreciation
  • Interest Rate Hikes
  • Subprime Crises
  • Political Mood Swings in light of Nuke Deal
  • Curb on Participatory Notes

No one - right from fund managers, brokers, India bulls or bears could in their wildest dreams ever think of Sensex scaling up 20000. There were various year-end targets of around 16000-16500 set by big foreign brokerage houses with access to so called research. But what happened in the end? The verdict loud and clear is on the wall.

Even as the Sensex scaled up new highs, investors got jittery and started taking exits from the market at 15000, 15500, and 16000 and so on levels, though for investors who exited at 19500 levels there was a re-entry window of four days caused by the P-Note fiasco. However, when the markets started falling, gloom doom gurus were back in action predicting even lower levels. It really takes a lot of guts to invest at such times. What happened in the end is that you missed the opportunity and the Sensex zoomed back again to 20000 levels. “Market timing is not just difficult but impossible” – this is the message markets have once again taught us.

A lot of people would be asking themselves “How could I do this”? The worst affected of all are the skeptics who have consistently shown pessimism towards Indian equity and stayed out throughout. NRIs (especially the dollar heavy ones) who invested in Indian equities made a killing because of the double gift of equity and rupee appreciation.

So what does 2008 have in store for investors and non-investors?

  1. 25000 is the next number that will excite the market. Every 1000-point move from these levels is just a 4-5% appreciation and 25% appreciation from these levels takes the Sensex upto 25000. Will the Sensex breach these levels? I could easily answer this question in December 2008 but right now there is no way for me to make any predictions and stick my neck out on this. Being an India bull there are reasons such as strong corporate earnings growth (though slower around 20%), and liquidity expected from FIIS & domestic institutions that could propel the Sensex to 24000 by the end of the year (Sensex PE at this level would be around 22.85 considering Sensex EPS of 1050).
  2. The first 3 new months from January to March would see several insurance products being launched. These are the months when majority of the people make their tax saving investments and hence one would see a plethora of insurance products and ELSS (Equity Linked Savings Schemes) being launched.
  3. 2008 will be the year, which might break all records in terms of mutual fund launches with as many as 80-90 schemes to be launched. Though mutual funds seem to have run out of ideas, it is not uncommon to see them launch me-too schemes. Additionally several new Asset Management companies who have got their licenses will roll out schemes. There might be fund manager churns and it would help taking a look at the new fund manager and his strategy going forward for managing the scheme.
  4. The dollar could continue its southward journey but the RBI will make all efforts to arrest its fall. The dollar would not fall sharply but a minor 3% correction cannot be ruled out. Currency reserves ballooned this year by more than 80 billion dollars to 260 billion dollars.
  5. Interest rates seem to have peaked out and there could be possible interest rate cuts. HDFC has already given an indication on this front and it could reduce interest rates by around 50 bps. Inflation is also under control and is a good sign. However surging oil prices could take inflation higher and keep interest rates firm.
  6. Earnings growth will be more subdued in the range of 18-20% (which is still good by any means) and Infrastructure, Banking, Financial Services and Entertainment will be sectors to watch. Additionally Technology, which was one of the worst performers in 2007, might make a comeback along with telecom.
  7. Subprime may claim more wickets in 2008 and this could once again exert a pressure on sentiment and liquidity in that order. However the Fed might again cut interest rates and infuse more blood (read: capital) in the system.
  8. With elections in 2009 and a lot at stake, no party would like to end their journey short. Though there will be minor hiccups, right from the Nuke Deal to economic policies, no party will want to rock the boat.
  9. US economy could head into a recession and whenever US investors get jittery about prospect of US economy they turn to gold as a safe haven. Hence gold might have room for higher levels from where they are today.
  10. Last but not the least, the political instability in neighboring Pakistan and Benazir Bhutto’s death. Though this might bear no direct impact on the Indian stock market, this event presents a geopolitical risk that one cannot ignore.

With so many things happening, how on earth is one supposed to understand and act in real time? Besides these, there would be several other unknown reasons (such as the Chinese market coming down sharply: a lot of Chinese company’s profits are through investments they have made in other company IPOs and stocks. These profits have no cash basis) that could play spoilsport and one would certainly see more upward and downward swings in the stock market.

The growth momentum of the Indian economy is expected to continue despite various dampeners because at this moment, capital is literally flooding the Indian market. Further rate cuts by the US Fed could further lead to strong inflows. India will continue to attract foreign funds due to high economic growth and buoyant capital markets despite various measures taken by the Reserve Bank to tighten money supply and SEBI's decision to impose curbs on P-Notes.

One simple strategy can help investors and non-investors. Make a commitment to buy on every fall of 5-7% whether you feel the market will go up or down. Though there will be corrections along the way the big picture in the great Indian bull run is far from over. This is a market to buy on declines and sell later.

source: moneycontrol.com

Indian Stock Market Tips for January 8, 2008

  • Margin :BUY LARTOU (L&T) CMP 4325 Target 4370 and 4390 StopLoss 4295.1
  • Margin :BUY BHAPET (BPCL) CMP 515 Target 524 and 531 StopLoss 509.1
  • Margin :BUY BALCHI (BALRAMPUR CHINNI) CMP 125.5 Target 128.8 and 130 StopLoss 123.1
  • Margin :BUY BAJHIN (BAJAJ HINDUSTAN) CMP 359 Target 368 and 373 StopLoss 354.1
  • Exit : RELPET (RPL) at 255
  • Margin :BUY STABAN (SBI) CMP 2240 Target 2265 and 2280 StopLoss 2225.1
  • Margin :BUY SUZENE(SUZLON ENERGY) CMP 2250 Target 2295 and 2325 StopLoss 2325.1
  • Margin :BUY RELCOM (RELIANCE COMMUNICATION) CMP 812 Target 822 and 829 StopLoss 806.1
  • Margin :BUY ITC CMP 237 Target 242 and 245 StopLoss 235.1
  • Margin :BUY RELNAT (RNRL) CMP 241 Target 247 and 252 StopLoss 236.1
  • Margin :BUY RELPET (RPL) CMP 255 Target 261 and 264 StopLoss 252.1
  • Delivery :BUY SUJTOW (SUJANA TOWER) CMP 209 Target 235 and 255 StopLoss 195.1

Monday, January 7, 2008

Subhiksha plans IPO in 2008

The Chennai-based discount retail chain Subhiksha Trading Services said that it would announce its initial public offering (IPO) this year. Mr R Subramanian, Managing Director, said, “We will announce the IPO this year. In fact, I would be very surprised if that doesn’t happen this year. However, I will restrain from putting a time limit of say three months or six months to it.” According to earlier reports, Subhiksha had planned its IPO by the second half of 2007, as soon as it completed 1,000 stores across the country. Mr Subramanian said, “We were supposed to float the IPO after we completed 1,000 stores. However, today we are well above that mark and about to touch the 1,400-1,500 store mark by March, and are still well stacked in terms of finances.” He said the company was still evaluating market conditions with a team of its in-house venture capitalists, consultants and accountants, all of whom are members of the company’s board of directors. Mr Subramanian had earlier said that the IPO was more for the purposes of listing than raising money for expansion. He had said, “We want the IPO to give liquidity to shareholders.” Subhiksha is a discount format modern trade organisation that operates through four verticals — fruits and vegetables, pharmaceuticals, FMCG and telecom. Its direct supply arrangements with manufacturers help it reduce the supply-chain costs, in turn helping it keep prices of all products much lower than the market levels. The company was formed in 1997 in Chennai, and currently operates over 1,000 outlets across 90 cities. ICICI Venture Capital holds 24 per cent in the chain. source: Hindu Business Line

Indian Stock Market Tips for January 7, 2008

  • Future: BUY STABAN (SBI) JAN FUTURES CMP 2430 Target 2480 and 2510 StopLoss 2405.1
  • Future: BUY DENBAN (DENA BANK) JAN FUTURES CMP 95.8 Target 100 and 103 StopLoss 93.1
  • Margin: BUY IDBI CMP 178.5 Target 184 and 186 StopLoss 176.1
  • Future: BUY DCB JAN FUTURES CMP 157.5 Target 164.5 and 169 StopLoss 151.1
  • Margin: BUY ASHLEY (ASHOK LEYLAND) CMP 56.8 Target 59.5 and 61 StopLoss 54.8
  • Option: BUY NIFTY JAN CALL 6300 STRIKE RATE CMP 154 Target 169 and 177 StopLoss 145.1
  • Margin: BUY CAIIND (CAIRN INDIA) CMP 266 Target 273 and 277 StopLoss 262.1
  • Margin: BUY RELIND (RELIANCE INDS) CMP 2998 Target 3035 and 3055 StopLoss 2985.1
  • Future: BUY LARTOU (L&T)JAN FUTURES CMP 4295 Target 4355 and 4395 StopLoss 4260.1
  • Margin: BUY BALCHI (BALRAMPUR CHINNI) CMP 120.8 Target 124.5 and 126.5 StopLoss 118.1
  • Margin: BUY PARDE (PARSHVANATH DEVELOPERS) CMP 551 Target 563 and 571 StopLoss 547.1
  • Margin: BUY RELCOM (RELIANCE COMMUNICATION) CMP 772.5 Target 779 and 784 StopLoss 766.1
  • Margin: BUY RELNAT (RNRL) CMP 213.5 Target 219 and 222 StopLoss 209.1
  • Margin: BUY ADLFIL (ADLABS FILIMS) CMP 1902 Target 1945 and 1975 StopLoss 1875.1
  • Margin: BUY RELPET (RPL) CMP 244.8 Target 251 and 254 StopLoss 241.1
  • Margin: BUY BSES (RELIANCE ENERGY) CMP 2526 Target 2560 and 2585 StopLoss 2505.1
  • Future: BUY RELCOM (RELIANCE COMMUNICATION) JAN FUTURES ABOVE 769 Target 783 and 794 StopLoss 761.1 Horizon 5 day
  • Option: BUY RELIND (RELIANCE INDS) JAN CALL 3000 STRIKE RATE ABOVE 106 Target 125 and 139 StopLoss 97.1 Horizon 5 days
  • Future: BUY ORCCHE (ORCHID CHEMICAL) JAN FUTURES ABOVE 315 Target 335 and 349 StopLoss 303.1 Horizon 5 days

Friday, January 4, 2008

Reliance Natural Resources Fund (RNRF) Mutual Fund

Reliance Natural Resources Fund (RNRF)

Product Features

Type: An Open Ended Equity Scheme

Investment Objective: The primary investment objective of the scheme is to seek to generate capital appreciation & provide long-term growth opportunities by investing in companies principally engaged in the discovery, development, production, or distribution of natural resources and the secondary objective is to generate consistent returns by investing in debt and money market securities. However, there can be no assurance that the investment objective of the scheme will be realized, as actual market movements may be at variance with anticipated trends.

Asset Allocation: Under normal circumstances, the anticipated asset allocation would be:

Instruments

% of Corpus (indicative)#

Risk Profile

Equity and Equity related Securities of companies: - Domestic Companies - Foreign securities

65% - 100% 0% - 35%

Medium to High

Debt and Money market securities (including investments in securitized debt*)

0% - 35%

Low to High

Plans Available: The scheme will have the following plans /options

•Growth Plan: Growth Option & Bonus Option. •Dividend Plan: Dividend Payout Option & Dividend Reinvestment Option.

Benchmark Index: A custom benchmark created using the BSE-200 to the extent of 65% of portfolio and MSCI World Energy Index for balance 35%. Since the MSCI World Energy Index will be US Dollar denominated, the conversion into Indian Rupees will happen based on the settlement price of the MSCI World Energy Index as on the last working day prior to the valuation date using the RBI reference rate as of 4.00.p.m on the valuation date.

Minimum Application Amount: For Resident and Non Resident Investors the minimum application amount is Rs 5000/- per plan per option and in multiples of Re. 1 thereafter.

Additional Purchase Amount: Rs 1000 per plan per option and in the multiple of Re.1 thereafter.

Load Structure (During the New Fund Offer and continuous offer including SIP installments)

Entry Load: •For subscription below Rs. 2 Crs - 2.25% •For subscription of Rs 2 Crs & above and below Rs 5 Crs - 1.25% •For subscription of Rs 5 Crs and above- Nil

Exit Load: NIL

Liquidity: The Scheme will offer for Sale/Switch-in and Redemption / Switch-out of Units at NAV based prices on every Working Day on an ongoing basis, commencing not later than 30 days from the closure of New Fund Offer Period.

Recurring Expenses: The above expenses are estimates only and are subject to change as per actuals. While the AMC fees remains the same, other expenses, namely, Marketing Expenses and Operational Expenses may change and the total expenses shall not exceed 2.50% of the amount of the Scheme's average daily net assets. Subject to SEBI Regulations, the AMC reserve the right to modify the above estimate for recurring expenses on a prospective basis.

Reliance Any Time Money Card: It shall be issued only to investors subscribing in this fund through Self Cheque.

Initial issue expenses: The Scheme shall meet the entire sales, marketing and such other expenses connected with sales and distribution of scheme during the new fund offer from the entry load and not through initial issue expenses in accordance with SEBI Circular dated April 4, 2006, being an open-ended scheme. Any expenses over & above the entry load amount shall be borne by the AMC.

SIP/STP/ SWP/ DTP: Available

Switch Facility: Available, subject to minimum Rs. 5000/- & any amount thereafter in switch in scheme (for opening a new folio/account) & minimum Rs 1000 & any amount thereafter for additional switch in. No load applicable for switches between the equity / sector specific schemes. However, differential load shall be charged for switching from Reliance Index to any other equity/sector specific scheme and switching from any other equity / sector specific scheme to Reliance NRI Equity Fund

Switch Inter Plan/Option: No load will be charged

Auto Switch Facility: This fund will offer an auto switch facility from Reliance Liquid Fund, Reliance Liquidity Fund and Reliance Floating Rate Fund to Reliance Natural Resource Fund during the NFO. However, RCAM reserves the right to extend or limit the said facility on such terms and conditions as may be decided from time to time.

Nomination facility: Available

Tax Benefits: The investors in this scheme will enjoy the same tax benefits which are available to unit holders of any other equity scheme.

Duration of New Fund Offer: Opening Date : January 1, 2008 Closing Date : January 30, 2008

New Fund Offer price: Rs.10/- per unit subject to applicable Entry Load.

Indian Stock Market Tips for January 4, 2008

Pick of the Week: Buy Shreyas Shipping & Logistic (SHRSHI) CMP Rs 130. Target Rs 156. Potential upside 20%. Time frame 6 months.

  • Margin: BUY IDBI CMP 178.5 Target 183 and 186.8 StopLoss 175.1
  • Margin: BUY POWGRI (POWER GRID) CMP 154.8 Target 158.9 and 161 StopLoss 152.1
  • Margin: BUY RELPET (RPL) CMP 239.25 Target 245 and 248 StopLoss 236.1
  • Margin: BUY ONGC CMP 1327.5 Target 1350 and 1372 StopLoss 1305.1
  • Margin: BUY RELNAT (RNRL) CMP 206.25 Target 213 and 216 StopLoss 203.1
  • Margin: BUY RELIND (RELIANCE INDS) CMP 2920 Target 2945 and 2960 StopLoss 2902.1

Thursday, January 3, 2008

Future Cap Holdings sets IPO price band at Rs 700-765/share

Future Capital Holdings (FCHL), the financial services arm of the Future Group, has fixed the price band between Rs 700 and Rs 765 per equity share for its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The company has filed its red herring prospectus with the Registrar of Companies, Mumbai, and is expected to hit the capital market in mid-January 2008. The issue would constitute 10.16% of the post-issue paid-up capital of the company. FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India) (the flagship company of the Future Group), its Managing Director Mr Kishore Biyani, and Mr Sameer Sain (a former Managing Director at Goldman Sachs International). One of the investors in the company is Och-Ziff, a prominent international fund. FCHL's three primary lines of business are investment advisory services, retail financial services and research. Currently, the two main retail financial services products are consumption loans and personal loans. FCHL will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the "Future Card", a credit card offering loyalty points. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange. The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited. source: moneycontrol.com

Reliance Power IPO opens on Jan 15, to raise Rs 10500-11500 Cr

Reliance Power has filed the red herring prospectus (RHP) with the Registrar of Companies, Maharshtra, Mumbai (ROC), for its proposed initial public offering (IPO). Reliance Power has fixed the price band for the IPO at Rs 405 - 450 per share. To enable large participation by retail investors, Reliance Power will offer a discount of Rs 20 per share to the retail investors, i.e. approximately 5% of the issue price. Reliance Power has also fixed convenient payment terms for all categories of investors. While QIBs are required to pay 10% on the application, the HNIs and retail investors will have the option to pay Rs 115 on the application, i.e. only approximately 25% of the issue price. The balance amount will be payable on allotment. The IPO is scheduled to open on January 15, 2008 and will close on January 18, 2008. Reliance Power, through this IPO proposes to raise approximately Rs 10,500 - 11,500 crores - the largest IPO in the history of the Indian capital markets. Reliance Power proposes to issue 26 crore equity shares of Rs 10 each including a promoters’ contribution of 3.2 crore Equity Shares which shall be allotted at the IPO price to the Promoters. The balance 22.8 crore equity shares would constitute the net issue to the public. The issue will constitute 11.5% and the net issue will constitute 10.1% of the post-Issue paid-up equity capital of Reliance Power. Reliance Power is part of the Reliance Anil Dhirubhai Ambani group and is currently engaged in the construction and development of various gas and coal based thermal power projects and hydro power projects in various parts of the country, of over 28,000 MW capacity - the largest development pipeline in the country. The issue proceeds are proposed to be utilized for funding subsidiaries to part-finance the construction and development costs of the various projects under development and for general corporate purposes. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, ABN AMRO Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities Private Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and J.P. Morgan India Private Limited are acting as the Book Running Lead Managers to the Issue whilst Macquarie India Advisory Services Private Limited and SBI Capital Markets Limited are acting as Co-Book Running Lead Managers. Amarchand & Mangaldas & Suresh A. Shroff & Co. is advising the Company whilst Cleary Gottlieb Steen & Hamilton and J. Sagar and Associates are advising the BRLMs and CBRLMs in relation to the issue.

Indian Stock Market Tips for January 3, 2008

  • Future: BUY POWGRI (POWER GRID) JAN FUTURES CMP 150.5 Target 155 and 158.8 StopLoss 148.1
  • Future: BUY NTPC JAN FUTURES CMP 271.5 Target 283 and 290 StopLoss 264.1
  • Margin: BUY CAIIND (CAIRN INDIA) CMP 253.5 Target 258.5 and 262 StopLoss 249.1
  • Margin: BUY RELIND (RELIANCE INDS) CMP 2906 Target 2935 and 2955 StopLoss 2890.1
  • Margin: BUY INDOIL (IOC) CMP 783 Target 793 and 805 StopLoss 778.1
  • Margin: BUY BSES (RELIANCE ENERGY) CMP 2450 Target 2490 and 2515 StopLoss 2430.1
  • Margin: BUY HINPET (HPCL) CMP 379 Target 386 and 391 StopLoss 375.1
  • Margin: BUY IDBI CMP 175.5 Target 179.25 and 182 StopLoss 172.1

Buy L&T, BHEL, ABB than BGR Energy at Rs 800+

BGR Energy is a very good company. Rs 850 possible for the stock as against its issue price of Rs 480 per share. It looks strong, in good business of BOP and EPC. It has strong order book and going to tap more orders going ahead. It will do EPS of Rs 20 in FY09, that works to 42-43 PE for FY09 on a price of Rs 800-850. At this price, one can buy L&T, BHEL and ABB than buying this kid, BGR Energy at higher price. No doubt that the stock will go higher. Source: moneycontrol.com

Wednesday, January 2, 2008

Bumper listing expected for BGR Energy: Experts

BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, is expected to see fantastic listing on January 3, 2008. Grey market premium is around Rs 340-350 while analysts expect the stock may list above Rs 850 and advised to book profits. "BGR Energy is likely to list around Rs 650-700. Above Rs 750, one can book profits", R S Iyer of KR Choksey Securities said. According to Investment Advisor, S P Tulsian, "BGR Energy is likely to get listed at Rs 900 as against the IPO price of Rs 480. Profit booking is advised in the stock at around the listing price." Manish Bhatt of Prabhudas Lilladher advised to hold the stock for medium to long term. It is an attractive bet. The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website. The company proposed to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes. SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue. Source: moneycontrol.com

Indian Stock Market Tips for January 2, 2008

  • Future: BUY UNIBAN (UNION BANK OF INDIA) JAN FUTURES CMP 228 Target 234.8 and 239 StopLoss 223.1
  • Future: BUY STABAN (SBI) JAN FUTURES CMP 2430 Target 2475 and 2495 StopLoss 2405.1
  • Margin: BUY DISHTV CMP 103.25 Target 107 and 109.5 StopLoss 100.1
  • Margin: BUY IDBI CMP 168.1 Target 172 and 175 StopLoss 165.1
  • Margin: BUY ALLBAN (ALLAHABAD BANK) CMP 135.25 Target 138.8 and 140.5 StopLoss 133.1
  • Exit: BANBAR (BANK OF BARODA) JAN FUTURES at 484.5
  • Delivery: BUY BINCEM (BINANI CEMENT) CMP 116.1 Target 132 and 143 StopLoss 110.1
  • Margin: BUY RELIND (RELIANCE INDS) CMP 2863 Target 2885 and 2905 StopLoss 2845.1
  • Margin: BUY BSES (RELIANCE ENERGY) CMP 2286 Target 2315 and 2335 StopLoss 2265.1
  • Future: BUY BANBAR (BANK OF BARODA) JAN FUTURES CMP 485.8 Target 497 and 505 StopLoss 478.1
  • Margin: BUY ITC CMP 224.1 Target 231 and 234 StopLoss 221.1
  • Margin: BUY DENBAN (DENA BANK) CMP 95.1 Target 99 and 101 StopLoss 92.1

Tuesday, January 1, 2008

Upcoming IPO Manjushree Extrusions Ltd.

143 C-5 Bommasandra Indl Area,Hosur Road, Bangalore, Karnataka- 560099-Tel:91-80-7833478. FAX:91-80-7833819. Email: manjushree@vsnl.com. Website: www.manjushreeindia.com. Public issue of 51,26,100 equity shares of Rs. 10/- each for cash at a premium of Rs.35/- per share (i.e. At a price of Rs.45/- per share) aggregating to Rs.23.07 Crores. The face value of the equity shares is Rs. 10/- per equity share and the public issue price of Rs.45/- is 4.5 times of the face value. The net public issue would constitute 37.84 % of the post issue paid up capital of the company. Open Date: 31 Jan 2008 Close Date: 06 Feb 2008 Issue Type : Public Issue Issue Size : 23.07 Offer Price: 45 Min. Inv: 150 Multiples: 150 Project Cost: 53.7

Pride Hotels and Shankara Pipes IPOs soon

Shankara Pipes IPO will enter the equity markets with an public issue of 6.11 million equity shares of Rs 10 each with the premium to be decided later through the book building process. The company has recently filed DRHP with the SEBI and is awaiting approval. Shankara Pipes is a Bangalore based Steel Tubes and Pipes Distributor with India wide presence. Shankara Pipes IPO will dilute around 30 per cent paid up capital of the company after the issue and the company plans to list the Shankara Pipes IPO on the BSE and NSE. BRLM to Shankara Pipes IPO is Keynote Corporate Services Limited. More information and updates regarding the Shankara Pipes IPO will be done soon. Do visit us regularly for updates on Shankara Pipes IPO Subscription and the Shankara Pipes IPO Allotment news. Pride Hotels IPO is planned in the first quarter of 2008. Pride Hotels is five-star business hotel chain headquartered in Mumbai with expansion plans of around Rs 3.5 billion. For its expansion plans the hotel chain has received Rs. 450 million as part investment from Kotak Real Estate and further Rs 100 million from Mauritius based fund company. Pride Hotels has currently 430 rooms in Pune, Madras, Nagpur and has expansion plans to raise the number of rooms to 1126 by the year 2010. The company also plans to build a 200 room hotel in Mumbai near the International Airport and other new hotels in Bangalore and Goa. Funds raised from the Pride Hotels IPO will help the company to expand the presence to major parts of India. More updates regarding the Pride Hotels IPO will be updated here soon. Do visit us regularly for more updates on the Pride Hotels IPO Subscription and the Pride Hotels IPO Reviews.

Indian Stock Market Tips for January 1, 2008

  • Margin: BUY RELPET (RPL) CMP 226.25 Target 232 and 236 StopLoss 222.1
  • Future: BUY DENBAN (DENA BANK)JAN FUTURES CMP 88.4 Target 93 and 97 StopLoss 85.1
  • Future: BUY ORCCHE (ORCHID CHEMICAL) JAN FUTURES CMP 304.5 Target 316 and 324 StopLoss 298.1
  • Delivery: BUY UCOBAN (UCO BANK) CMP 62 Target 72 and 78 StopLoss 56.1
  • Margin: BUY MTNL CMP 200 Target 205.5 and 209 StopLoss 197.1
  • Future: BUY INDHOT (INDIAN HOTEL) JAN FUTURES CMP 164.5 Target 174 and 181 StopLoss 158.1
  • Delivery: BUY PALHEI (VICEORY HOTEL) CMP 128.5 Target 148 and 162 StopLoss 118.1
  • Exit: SAIL at 286
  • Future: BUY EDECAP (EDELWISE CAPITAL) JAN FUTURES CMP 1686 Target 1723 and 1755 StopLoss 1665.1
  • Delivery: BUY GUJNRE (GUJARAT NRE COKE) CMP 144 Target 162 and 175 StopLoss 134.1
  • Future: BUY BANBAR (BANK OF BARODA) JAN FUTURES CMP 471 Target 486 and 495 StopLoss 465.1
  • Margin: BUY ITC CMP 215.25 Target 219 and 222 StopLoss 212.1
  • Margin: BUY BSES (RELIANCE ENERGY) CMP 2165 Target 2190 and 2225 StopLoss 2145.1
  • Margin: BUY WIRWIR (WWIL) CMP 101.8 Target 105 and 108 StopLoss 99.1
  • Margin: BUY GTLINF (GTL INFRA) CMP 96 Target 99.8 and 102 StopLoss 94.1
  • Margin: BUY DISHTV CMP 104.25 Target 107.5 and 109 StopLoss 101.1
  • Margin: BUY IFCI CMP 96 Target 99.5 and 101 StopLoss 94.1
  • Margin: BUY SAIL CMP 284 Target 291 and 294 StopLoss 280.1