Indian Stock Market News, Information, Tips, Investment, IPO Details, Analysis Report

The markets have taken huge beating after inflation numbers, which stood at 11.05% for the week ended June 7 as against 8.75% in earlier week. It is at 13-year high and the main reason was oil price hike, which happened at the end of last month.

Analysts say that we can see more action in the Repo and CRR rate. They say the RBI would come out with some measures on the rate and liquidity side much before the July policy.

At 12:00 pm, the Sensex was down 262 points at 14,825 and the Nifty down 87 points at 4,417. Huge shorts have generated for the month of July. The Nifty June Futures was trading at 29 points discount and July Futures at 41 points discount.

BSE Realty Index hammered a lot, down over 3%. Auto, FMCG, Bankex were down over 2%.

The Reserve Bank of India has hiked the repo rate by 25 bps to 8% from 7.75% previously to contain inflaiton concerns.There has been no change in reverse repo rate. RBI said it was essential to take measures on urgent basis.

Today, Sensex was down 506+ points and nifty was down 126+ into the stock market. Today BSE close at 15,066+ points and NSE at 4500+ points. Today’s top gainers were - Ranbaxy Labs, Reliance Communication, Hindalco and losers were Jai Prakash Associates, DLF, ONGC & HDFC.

The markets have opened on a weak note and crashed heavily following negative global cues as Crude has touched a new all-time high of USD 139.12 a barrel. Selling has seen in capital goods, power, realty, cement and metal stocks. All BSE indices are in the red.

At 9:55 am, the Sensex was down 513 points at 15058 and the Nifty down 139 points at 4488.

Amongst frontliners, major losers were L&T, SAIL, Unitech, Rel Petro, Siemens, Ambuja Cem, Nalco, Tata Power, BPCL, Reliance Infra, DLF, Tata Motors

Cairn was the only stock, which was up over 5% as Crude is trading at USD 137.37 per barrel.

DLF has continued its downtrend, hit a new low today. The stock had slipped below its issue price on Friday.

Asian markets were trading weak. Japan’s Nikkei tumbled 2.06% or 298.56 points at 14,190.88. Taiwan’s Taiwan Weighted fell 2.10% or 183.84 points at 8,561.51. Singapore’s Straits Times slipped  2.17% or 68.22 points at 3,078.51. South Korea’s Seoul Composite lost 1.73% or 31.66 points at 1,800.65.

Anu’s Laboratories engaged in the manufacture of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers closes at Rs 268.05 on the BSE, 27.64% above the issue price of Rs 210.

The share had touched an intraday high of Rs 288.40 and an intraday low of Rs 256.60. Its total traded quantity was 1,64,91,651 shares.

It had at Rs 260 as against its issue price of Rs 210 per equity share, a jump of 23.81%.

The initial public offer of Anu’s Laboratories of 38.2 lakh shares of Rs 10 each was oversubscribed by 8.43 times.

Gokul Refoils and Solvent primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing ends at Rs 182.05 on the NSE, at a discount of 6.64% to its issue price of Rs 195.

On the NSE the share touched an intraday high of Rs 224.70 and intraday low of Rs 178. The total traded quantity was 1,67,59,269 shares and turnover was Rs 34,728.56 lakh.

On the BSE the share closed at Rs 181.05. On BSE its intraday high was at Rs 222.30 and intraday low of Rs 176.03. The total traded quantity was 2,11,49,800 shares.

The share opened at Rs 219.90 on the NSE against the issue price of Rs 195 at a premium of 12.77%.

Today Sensex Down -258.66 Point and Nifty Down -53.80 Points.  Today’s  top gainers were Tata Steel (Tisco),  Bharti Airtel, ACC, Ranbaxy Labs and losers were ITC, Satyam, Infosys and Larsen.

Gammon Infrastructure Projects (GIPL), an infrastructure project development company, will list on the exchanges with its equity shares on April 3, 2008. The issue price has been fixed at Rs 167 for its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each for the above issue price determined through the 100% book building process.

The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.

The initial public offering of the Ahmedabad - based Kiri Dyes and Chemicals (KDCL), manufacturer and exporters of dyes and dyes intermediates, has subscribed 1.32 times, till 4 pm as per NSE website. The issue has received bids for 49.45 lakh shares as against shares on offer.

The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.

The initial public offering of Sita Shree Food Products has received good response, subscribed 2.38 times. It has received bids for 2.78 crore shares as against 1.16 crore shares on offer.

The price band is between Rs 27-30 per share and likely to raise around Rs 31.5 crore. Equity shares are proposed to be listing on the BSE and NSE.