Everonn Systems touches Rs 560 on day of listing

Everonn Systems has listed with premium of 75% at Rs 245 over its offer price of Rs 140 per share on the BSE and touched a high of Rs 560 on strong buying interest and management's guidance of doubling topline and bottomline in FY08.

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Unitech declares 1:1 bonus, 25% dividend

Unitech Ltd on 31 July announced a bonus issue of shares in the ratio of 1:1 and a dividend of 25% on equity shares of Rs2 each.

The company on 30 July reported a near five-fold increase in its first quarter net profit this fiscal to Rs347.83 crore from Rs73.92 crore in the corresponding period last year. Total income on standalone basis rose to Rs788.73 crore during April-June 2007-08 from Rs306.21 crore in the same quarter of last fiscal. On consolidated basis, first quarter net profit stood at Rs365.67 crore on a total income of Rs899.67 crore.

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Everonn Systems to list on August 1

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Apply for Puravankara

Real estate is in boom and that boom may last for another six months. Again all issues of real estate companies are doing well on the bourses. People can take advantage of that without worrying of any thing and apply for the Puravankara Projects.

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Puravankara Projects IPO opens for subscription

Realty major Puravankara Projects is open for subscription with a public issue of 21,467,610 equity shares of Rs 5 each through a 100 per cent book building process. The price band is at Rs 500- 525 per share. The issue closes on August 3.

It proposes to raise Rs 1,070 crore at the lower end of the price band and Rs 1,123.50 crore at the upper end.

Puravankara Projects’ operations cover Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Colombo and the UAE. The company has completed 14 residential and one commercial project totalling 3.93 million sq ft of developable area. Ongoing projects aggregate 12.20 million sq ft of saleable area.

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And the winner today are THE BEARS !!!

The markets closed in deep red tracking global peers. It was third biggest single day fall for Sensex in absolute terms. Sell off was seen in markets across the globe. The fall was initiated by US markets due to months of worry about the mortgage and corporate lending markets.

Real Estate, metal, cap goods, media were the worst hit. Sugar stocks did good for themselves. BSE Metal and realty index is down over 4%, followed by banking and capital goods index down over 3%.

Sensex closed down 541.74 points or 3.4% at 15,234.57 and Nifty closed down 174 points at 4445.

The BSE Midcap Index ended at 6,598.32 down 192 points or 2.8%.

The BSE Smallcap Index ended at 7,926.45 down 219 points or 2.7%.

The BSE Bankex was down 3.2% at 7,920.19. Canara Bank, Bank of Baroda, Oriental Bank, PNB, HDFC Bank moved downwards.

The BSE Capital Goods Index was down 3.8% at 12,748.77. Alstom Projects, Gammon India, Astra Microwave, Jyoti Structure, BHEL, Reliance Infra closed lower.

The BSE Health Care Index was down 2.6% at 3,691.36. Sterling Bio, Matrix Lab, Lupin, GlaxoSmithKline, Wockhardt closed lower.

The BSE Auto Index closed at 4,943.50 down 3%. Ashok Leyland, Escorts, Tata Motors, Hind Motors, Hero Honda, Tube Investment closed higher.

The BSE Metal Index closed at 11,501.52 down 5.3%. Tata Steel, Shree Precoated, Hind Zinc, Hindalco, SAIL
closed lower.

The BSE FMCG Index closed at 1,927.86 down 0.1%. United Brewerie, Dabur India, HUL, United Spirits, Bata India
closed higher

BSE Oil and Gas Index closed at 8,015.75 down 3.7%. ONGC, Reliance Natura, Petronet LNG, Reliance, HPCL ended in red.

The BSE IT Index lost 2.5% at 4,876.34. Mphasis, Patni Computer, Financial Tech, HCL Tech, Satyam, Wipro closed lower.

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Wall St indexes plunge, Asian markets also slide

Stocks plummeted on 26 July, with the Dow industrials tumbling more than 300 points, on signs of further weakness in the housing market and deteriorating conditions for corporate buyouts. The Dow Jones industrial average dropped 311.50 points, or 2.26%, to close at 13,473.57. The Standard & Poor’s 500 Index was down 35.43 points, or 2.33 %, at 1,482.66. The Nasdaq Composite Index was down 48.83 points, or 1.84 percent, at 2,599.34.

Asian markets also ended in red, with the benchmark Nikkei 225 tumbling more than 400 points to its lowest level in two months.

Hong Kong's Hang Seng plunged 2.23% or 517.73 points at 22,693.96.

Japan's Nikkei tumbled 2.32% or 410.82 points at 17,291.23.

Taiwan's Taiwan Weighted slipped 2.09% 199.68 points at 9,366.74.

Singapore's Straits Times declined 2.74% or 97.98 points at 3,481.75.

South Korea's Seoul Composite was down 2.60% or 51.13 points at 1,912.41.

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Triple Witching Hour : The Definition

"Triple Witching Hour" is the last hour on expiration day when all contracts (index options, index futures, stock options) expire. In the Indian context, it would be more appropriate to call this as “Quadruple witching hour” since individual stock futures also expire along with the aforementioned contracts. The day on which triple witching hour happens to be is called "Triple Witching Day".

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Markets end up high : Thanks to F&O expiry

The markets spiked in the late trade after witnessing sluggish trade for most of the day on triple witching day. The turnover was at record high of 1 lakh crore. It has been a spectacular July series for the markets. Today on F&O turnover side, marketwide turnover hit record high for the third day.

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Global Markets

Japan's Nikkei slipped 0.26% or 46.56 points at 17,811.86. However, Hong Kong's Hang Seng 0.57% or 132.89 points at 23,495.07, Taiwan's Taiwan Weighted rose 0.19% or 18.38 points at 9,758.5, South Korea's Seoul Composite was up 0.28% or 5.63 points at 2,009.85 and Singapore's Straits Times was flat at 3,632.38.

US markets: The Dow rose 68.12 points, or 0.50%, to 13,785.07, after trading up more than 100 points and down more than 40. Broader stock indicators also rose in shaky trading. The Standard & Poor's 500 index climbed 7.05 points, or 0.47%, to 1,518.09, and the Nasdaq composite index advanced 8.31 points, or 0.31%, to 2,648.17.

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Markets turn Bullish in mid-day trade

The markets are trading flat with buying support from select auto, pharma, IT and oil & gas stocks. The broader markets have outperformed the benchmark indices. The midcap index is up 0.9% and the smallcap index was up 1.2%. The market breadth is positive.

On the results front, Bharti's quarterly net profit almost doubled, beating forecasts, as its user base surged in the world’s fastest growing mobile market. Suzlon is down 6% on extremely weak numbers after getting a beating yesterday as well. The stock was down 6% on Wednesday.

Selling pressure is seen in capital goods and banking stocks.

Sensex is currently trading down 29 points at 15670 and Nifty is down 13 points at 4575.

Ranbaxy is up 7.56%. Ranbaxy Labs, Cipla, Satyam, Maruti Udyog, Bajaj Auto, Tata Motors, Mah and Mah are among the top gainers on the indices.

Fortis Health, Lakshmi Oversea, Bombay Dyeing, Gulf Oil Corp, NDTV, 3i Infotech, ICI India are among the top gainers in midcap space.

ACC, HDFC Bank, BHEL, Grasim are among the top losers on Sensex.

F&O space is buzzing on the settlement day, with profit booking witnessed across sectors.

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Asian Granito IPO bids start today

Asian Granito India, a manufacturer of vitrified tiles plans, is open for subscription with an IPO of 70 lakh equity share of Rs 10 each through a 100 per cent book building issue.

The price band has been fixed at Rs 85-102 per equity share. Consolidated FY 2007 EPS on post-issue equity workout to Rs 10.9. At the offer price band of Rs 85 – Rs 102, the P/E range works out to 7.8-9.3, respectively.

The company plans to utilise the issue proceeds to set up a wall tile unit as well as for modernisation and expansion of its existing vitrified tile plant at a total investment of Rs 61.37 crore.

Grey market premium of Asian Granito is between 28 to 30.

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Omnitech Allotment Subscription Details

Qualified Institutional Buyers (QIBs) : 61.75 times

Non Institutional Investors : 108.66 times

Retail Individual Investors (RIIs) : 50.95 times

Overall : 61.84 times

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Zylog Systems Limited Allotment : Subscription Details

Qualified Institutional Buyers (QIBs) : 89.55 times

Non Institutional Investors : 143.95 times

Retail Individual Investors (RIIs) : 35.13 times

Overall : 76.51 times

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Bears are back, but are they here to stay for long !!!

Share prices fell 0.61% in volatile trade, snapping a four-day record breaking run on weak global trends as investors locked in profits. Investors preferred to sell equities ahead of the expiry of the monthly futures contract on Thursday and after heavy losses overnight on Wall Street. Sensex closed 95.59 points down at 15,699.33.

Experts commented markets will remain volatile in coming days as investors are expected to further book profits. Earlier in the day Sensex lost over 200 points at mid-session following widespread losses in blue chip stocks, led by capital goods, realty and metal sectors, besides weak global markets.

Most of the sectoral indices were in the negative zone with sizable losses.

Given the current state of market where the Bulls were prevailing for last few days, running primarily on stocks with strong fundamentals, the markets should be again looking out for 16,000 mark once July expiry is over.

Hope the Bears are not here to stay for long or is there a correction in waiting !!!

Allied Digital debuts with 75% premium

Allied Digital Services, an IT Infrastructure Management Services provider in India, has listed with 75% premium at Rs 332.50 on NSE as against issue price of Rs 190 per share and touched a high of Rs 370.50 on good buying interest despite negative sentiment in the markets.

Company's strong track record and positive outlook also supporting the stock. The listing was as per analysts expectations, they were expecting at around Rs 325-360.

IFCI : Whats happening !!!

IFCI, the oldest financial institution in the country, is re-examining a move to sell a 26 per cent stake to a strategic partner. After turning profitable in the last quarter, the company is learnt to have decided first to build a robust business model and then go in for an equity sale.

According to highly placed sources, IFCI now feels it is better to have basket of investors purely for resource mobilisation. “The important thing is to have a robust business model rather than a strategic investor who will eventually impose a business model, the sources said.

“Once the new management is able to put in a new business model, it will attract a better valuation over the medium term,” they added.

According to a July 6 board resolution, IFCI was to come out with a public announcement on July 16 inviting interested parties for a stake sale of 26 per cent. The strategic investors were expected to make bids within a month of the announcement. Ernst & Young is the consultant for the process and has prepared the information memorandum. The IFCI board would meet again on August 4 to discuss the issue, sources said.

The IFCI share price is continuously slipping since July 6. It is currently trading at Rs 53.60, down from Rs 63 on July 6. Leading multinationals such as Nomura Securities and US-based funds have shown an interest in the IFCI stake. Sources said Barclays was expect to bid upward of Rs 80 per share, resulting in a valuation of over Rs 4,000 crore for IFCI.

Allied Digital may cross Rs 400 mark on listing: Experts

All of us who have been allotted Allied Digital stocks, lets keep our fingers crossed and wait till tomorrow morning to see how much steam does this stock hold. Experts are positive on the stock and expect a listing of 325-350 and if the market conditions are supportive the stock price might touch 400 in morning trading session.

Investors may book profits above 400(this is something which I am planning to do as well).

What is GREY MARKET PREMIUM ?

Cities like Ahmedabad, Kolkata and Rajkot are the most active centres for the IPO (initial public offerings) grey market.

The grey market is an unofficial market where trading of shares in forthcoming IPOs is conducted. A premium or discount indicates the level of retail interest in a public issue. Trades done in the grey market are settled on the day of listing. As per the rules of the game, once the deal is done at a stipulated price, the seller has to give delivery of shares after he has been allotted the shares by the company.

If the seller falls short in receiving the exact number of shares that he has sold in anticipation, then he will have to buy the shares from the market once the share gets listed in order to honour his commitment. Many traders short sell in the grey market if they feel that the premium on offer is unwarranted and that the stock may list at a price lower than what most market players expect it to.

Though grey market operators say that there is a constant change in the grey market premium, it largely depends on the subscription on the last day and the market conditions, post issue closing.

HDIL debuts with 13.5% premium

Real Estate Developer Housing Development and Infrastructure (HDIL) has listed with 13.5% premium at Rs 567.50 as against its issue price of Rs 500 per share on the BSE and touched a high of Rs 617.5 with good buying support and positive sentiment in the markets.

HDIL has started trading in F&O and the lot size will be of 400 shares. Options strike priced between Rs 200-800.

The company had come out with an IPO of 29.70 million shares at a price band of Rs 430-500. The issue was subscribed 6.6 times.

Everonn Systems Allotment Status

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Allied Digital Allotment Status

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Central Bank of India

Incorporated in 1911, Central Bank of India is the first Indian commercial bank which was wholly owned and managed by Indians. Central Bank of India branches are spread in 27 out of 28 States as also in 4 out of 7 Union Territories in India. Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 3194 branches and 267 extension counters at various centers throughout the length and breadth of the country. Central Bank of India has over 25 million account holders.

IPO Information :

Public Issue Price: Rs. 85/- to Rs. 102/- Per Equity Share
Public Issue Open : July 24, 2007 to July 27, 2007
Public Issue Type : 100% Book Building Issue (Initial Public Offer IPO )
Public Issue Size: 80,000,000 Equity Share of Rs.10/- each
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing : BSE, NSE
Lead Manager: ICICI Securities, Citigroup, ENAM Financial, IDBI Capital Market, Kotak Mahindra.

IVR Prime Urban Developers Limited

Incorporated in 1996, IVR Prime Urban Developers Limited, a subsidiary of IVRCL, is a real estate development company focusing on integrated townships, residential developments, and commercial projects, including hotels, retail malls, IT parks and other projects in various parts of India. As on January 23, 2007, our Land Reserves consisted of approximately 2,298.75 acres, representing approximately 56.63 million sq. ft. of Saleable Area, in the cities of Hyderabad, Chennai, Bangalore, Pune and Noida.

IVR Prime Urban Developers has completed development of a built-up area of approximately 2 million sq. ft. consisting of 17 high rise towers with 664 apartments and 125 independent villas. IVR Prime Urban Developers are currently developing approximately 0.77 million sq. ft. retail mall with a multiplex cinema, which will include apparel stores, restaurant outlets and entertainment centres, as well as an IT park consisting of approximately 0.71 million sq. ft. office tower above the retail mall. In addition, we plan to develop a business hotel of approximately 0.50 million sq. ft.

For fiscal 2006 and the six months ending September 30, 2006, the Company had unconsolidated restated total income of Rs. 1,364.25 million and Rs. 691.27 million, respectively, and unconsolidated restated profit after tax of Rs. 117.04 million and Rs. 139.59 million, respectively.

IPO Information :

Public Issue Price: Rs. 510/- to Rs. 600/- Per Equity Share
Public Issue Open : July 23, 2007 to July 26, 2007
Public Issue Type : 100% Book Built Issue (Initial Public Offer IPO )
Public Issue Size: 14,150,000 Equity Share of Rs.10/- each
Market Lot: 10 Shares
Minimum Order Quantity: 10 Shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing : BSE, NSE
Lead Manager: Enam Financial Consultants Private Limited, Kotak Mahindra Capital Company Limited

Refex Refrigerants Limited

Incorporated in 2002, Refex Refrigerants Limited is an ISO 9001 Company engaged in the business of refilling non ozone depleting refrigerant gases popularly known as ‘HydrofluoroCarbons’ or ‘HFCs, which are used in Auto air conditioners, Room air conditioners, refrigerators and refrigerating equipments. Refex is a licensed refiller, authorised by the Department of Explosives (Government of India).

Presently Refex has an installed capacity of refilling 40 MT per month of refrigerant gases on single shift basis. Refex supplies its products to Original Equipment Manufacturers.

Refex has its processing and filling station at: 1/171, Old Mahabalipuram Road, Tiruporur-603110, Tamil Nadu. The existing factory has an installed capacity of 480 MT of Refrigerant gases per annum on single shift basis. The proposed expansion will increase the capacity to 3,000 MT per annum. Refexalso has a technical agreement with M/s Kaltech Engineering and Refrigerants Pte Ltd., Singapore (Kaltech).

IPO Information :

Public Issue Price: Rs. 65/- Per Equity Share
Public Issue Open : July 23, 2007 to July 26, 2007
Public Issue Type : Fixed Price Issue (Initial Public Offer IPO )
Public Issue Size: 38,00,000 Equity Share of Rs.10/- each
Market Lot: 25 Shares
Minimum Order Quantity: 25 Shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing : BSE
Lead Manager: Keynote Corporate Services Limited

Omnitech InfoSolutions Limited

Incorporated in 1990, Omnitech InfoSolutions Limited is a technology service provider and is dedicated to deliver a wide range of technology services as well as technology-enabled services. Omnitech offers business availability services, business continuity services, systems integration solutions, and framework solutions and products.

In business availability services Omnitech provides services such as infrastructure management services, application management services & software testing services. In business continuity services, Omnitech provide services such as disaster recovery management and disaster recovery consulting and auditing.

Omnitech has a large client base across the globe in different industry segments like BFSI (Banking, Financial Services & Insurance), Manufacturing, Utilities, Services, Government bodies, etc. Our clients include amongst others, prominent companies such as HDFC Standard Life Insurance Company Limited, CRISIL Limited and Citibank and Tandberg Data (a Singapore based company).

IPO Information :

Public Issue Price: Rs. 90/- to Rs. 105/- Per Equity Share
Public Issue Open : July 19, 2007 to July 25, 2007
Public Issue Type : 100% Book Building Issue (Initial Public Offer IPO )
Public Issue Size: [*] Equity Share For Cash Aggregating Rs. 3500 Lacs of Rs.10/- each
Market Lot: 60 Shares
Minimum Order Quantity: 60 Shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing : BSE, NSE
Lead Manager: UTI Bank Limited

Zylog Systems Limited

Incorporated in 1995, Zylog Systems Limited (ZSL) is a mid-sized solution based IT services provider, offering a wide array of service offerings to multiple verticals. Zylog offers a wide range of services including Application Development, Business Intelligence & Data Warehousing, Package Implementation, Testing etc across multiple domains.

ZSL has adopted a domain specific approach. BFSI contributes 34% of the revenues, telecom contributes about 22% of the revenues. The Company also focuses on Pharma, manufacturing and retail each contributing ~8% of the revenues for FY07.

ZSL's business mix is currently onsite centric (80% in FY06 and ~82% in FY07E). In order to cater to the offshore requirements of existing clients, as well as capture new business with its offshore presence, the company is expanding its offshore infrastructure. Zylog proposes to develop two Offshore Delivery Centers at Sholinganallur and Siruseri in Chennai respectively. With the planned increase in offshore capabilities, Zylog would be able to move greater composition of work offshore and position itself as a midsized offshore service provider.

ZSL's revenues have grown at a CAGR of 58% over FY 03 – FY 07 to Rs 4,034mn ($100mn) and PAT has grown at a CAGR of 56% over the same period to Rs 541mn.

Opinion : Apply

IPO Information :

Public Issue Price: Rs. 330/- to Rs. 350/- Per Equity Share
Public Issue Open : July 20, 2007 to July 25, 2007
Public Issue Type : 100% Book Built Issue (Initial Public Offer IPO )
Public Issue Size: 36,00,000 Equity Shares of Rs.10/- each
Market Lot: 20 Shares
Minimum Order Quantity: 20 Shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing : BSE, NSE
Lead Manager: Motilal Oswal Investment Advisors Private Limited

Read : Zylog Systems an attractive investment: Motilal Oswal
Zylog Systems an excellent bet, say experts