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

Today Sensex Down -229.02 and Nifty Down -49.60 Points.

Today’s top gainers were Power grid corporation, NTPC, Reliance Infra, BPCL, Tata Power and Losers were Zee Entertainment, Tata Steel, Siemens, Ambuja Cements & Bharti Airtel.

The UK government in a bid to save its stuttering economy has unveiled its second bank bailout plan. The country is staring at a record level of unemployment numbers and recession. Technically, recession is defined by two successive quarters of negative output. The country saw negative GDP growth in Q3. Its Q4 figures are to be announced on Friday.

Justifying the bailout, Gordon Brown, the British Prime Minister, said the move was required as the overall credit availability is inadequate to support the economy. The bailout, he said, will aim at expanding lending necessary for credit worthy institutions. The Bank of England will give more details of the new facilities on Tuesday.

In October, UK extended a 37 billion pounds lifeline to banks. This was at the height of the global financial crisis and was accompanied by similar such steps by various other countries. The justification for the move at that time too was shoring up of the country’s financial system. Even Gordon Brown had said this will help build financial stability.

The IPO of Alkali Metals has received bids for 26,24,700 shares as against issue size of 25,50,000 shares and is subscribed 1.03 times, as per NSE website. The issue had opened on October 7, 2008.

The company’s public issue of 25,50,000 equity shares in the price band of Rs 90 to Rs 105 per equity share was scheduled to close on October 10, 2008 but was extended to October 15, 2008 due to adverse market conditions. The price band was also revised to 86 to Rs 103 per equity share.

The Reserve Bank of India, or RBI has cut the repo rate by 100 bps to 8% with immediate effect. This is the first repo cut since 2004.

Today, Chemcel Biotech listed on BSE at its issue price which is Rs. 16.

The public issue of 1.54 lakh equity shares of Rs 10 each was subscribed 1.83 times.

Alkali Metals has decided to extend the last date for its IPO to October 15, 2008 in the price band of Rs 86 to Rs 103 per equity share of Rs 10 each due to adverse market conditions.

An IPO has received bids for 8,63,070 shares as against issue size of 25,50,000 shares and got subscribed 0.34 times, as per NSE website, till October 10. The issue had opened on October 7, 2008.

Recently crude price hit $88.84 / bbl which is the last eight month lowest trade.  That’s really good news for consumers and for gas prices as well.

We hope it go down further, and government will reduce the price on petrol, diesel and gas.

20 Microns closed at Rs 33.65 on the NSE, at a huge discount of  38.82% to its issue price of Rs 55.

The share touched an intraday high of Rs 80 and intraday low of Rs 31.6.

The total traded quantity was 1,17,50,865 shares and turnover was Rs 4848.41 lakh.

The public issue of 43,50,632 equity shares of Rs 10 each was subscribed 4.29 times.

Below is the details of Alkali Metals (AM) IPO information.

Issue Terms
Issue price / Floor Price (Rs)     90-105
Application per share (Rs)     N.A.
Minimum investment amount (Rs)     65.00
Minimum bid (no of shares)     N.A
Maximum Shares for Retail     N.A

Issue Date and Size

Issue opens     07-Oct-08
Issue closes     10-Oct-08
Listing on     NSE,BSE
Issue size (Rs cr)

Investor Information

Lead Manager(1)     Chartered Capital and Investment Ltd
E-mail     N.A.
Lead Manager(2)     Saffron Capital Advisors Pvt Ltd
E-mail     N.A.
Registrar         Cameo Corporate Services Ltd
E-mail             cameo@cameoindia.com

Company Contact Details

Company’s address     Plot No B-5 Block III,
Industl Devlopment Area Uppal,
Hyderabad - 500039,
Andhra Pradesh, India

Pincode     500039
Tel No.     91-40-27202298
Fax No.     91-40-27201454

Website     http://www.alkalimetals.com

Today Sensex Down -238.15 Point and Nifty Down -68.45 Points.  Today’s  top gainers were Zee Entertainment,  NALCO, Suzlon Energy, Hero Honda and losers were Sterlite Industries, SAIL, Tata Steel, Reliance Infra and Tata Power.