IRB INfrastructure IPO Open Today at a Price Band of Rs.185 to Rs.220

IRB Infrastructure Developers, an infrastructure and construction company in India with extensive experience in the roads and highways sector and currently involved in 12 BOT projects in this sector, is open for subscription with a public issue of 5,10,57,666 equity shares of Rs 10 each through 100% book building process.

The issue closes on February 5, 2008 and the price band is at Rs 185 to Rs 220 per equity share of Rs 10 each.

The issue will constitute 15.36% of the fully diluted post-issue equity share capital of the company. The equity shares are proposed to be listed on the BSE and the NSE. The company filed a red herring prospectus with the registrar of companies on January 14, 2008 .


Deutsche Equities India Private Ltd is the sole global coordinator and BRLM for the issue and Kotak Mahindra Capital Co. Ltd is the Co-BRLM for the issue.

The company proposes to utilize the net proceeds of the issue for investment in subsidiary IDAA; prepayment and repayment of existing loans of the company and the subsidiaries Aryan Toll Road Pvt. Ltd, Modern Road Makers Pvt. Ltd, Thane Ghodbunder Toll Road Pvt. Ltd, NKT Road & Toll Pvt. Ltd and Mhaiskar Infrastructure Pvt. Ltd.

IRB Infrastructure Developers is currently involved in 12 BOT projects in the roads and highways sector. Out of these projects, 11 projects are in the operational phase, i.e., engineering, procurement and construction phases have been completed on these projects and the project SPVs are currently earning revenues from toll collection under the relevant concession agreements.

Currently, the company's land reserves consist of approximately 925 acres of land in the Mauje Taje and Mauje Pimploli Taluka in Pune district, and it intends to acquire an additional approximately 475 acres of land for its proposed township project.

In fiscal 2007, the consolidated total income of the company was Rs 325.08 crore and it earned consolidated net profit, as restated, of Rs 29.96 crore. In the five months ended August 31, 2007, consolidated total income was Rs 285.26 crore and it earned consolidated net profit, as restated, of Rs 36.38 crore in this period.

Source: MOneycontrol

Management


Virendra D. Mhaiskar > Chairman of the Board, Managing Director Officer
Since: 09/07/2007 Age: 36

Madhav H. Kale > Chief Finance Officer Officer Since: 02/2007 Age: 53

Dhananjay K. Joshi > Chief Operating Officer, Compliance Officer Age: 33

Naresh K. Taneja > Vice President of Human Resources Age: 53

Deepak D. Gadgil > Vice President - Procurement and Asset Management
Officer Since: 06/01/2007 Age: 51

Ajay P. Deshmukh > Chief Technology Officer Age: 40

Mehul N. Patel > Company Secretary Officer Since: 05/21/2007 Age: 33

Deepali V. Mhaiskar > Whole-time Director Officer Since: 09/07/2007 Age: 34

Dattatraya P. Mhaiskar > Whole-time Director Officer Since: 09/07/2007 Age: 69

Suresh G. Kelkar > Whole-time Director Officer Since: 09/07/2007 Age: 69

3rd Floor, IRB Complex, Chandivli Farm, Chandivli Vill, Andheri (East)
Mumbai, 400 072
IND +91-22-66404220 (Phone)
+91-22-66751024 (Fax)
Company website:
http://www.irb.co.in/

Wockhardt Hosp IPO not open yet, waiting for regulatory nod, Price Band Reduced to Rs. 225 to Rs.260

Wockhardt Hospitals is supposed to open today, January 31, 2008 and will close on February 5, 2008 but not open yet. The company has reduced its price band to Rs 225-260 from Rs 280-310 per share, for which it still has not got regulatory nod, reports CNBC-TV18.

Its initial public offering (IPO) is of 25,087,097 equity shares of Rs 10 each for cash at a price determined through a 100% book building process.

The issue comprises a net issue to the public of 24,587,097 equity shares of Rs 10 each and a reservation of upto 500,000 equity shares for subscription by eligible employees. The issue will constitute 24.06% of the post-issue paid up equity share capital of the company.

Wockhardt Hospitals intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals of the Company, prepay some of the short term loans and to meet general corporate expenses.

The equity shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange of India.

The joint global co-ordinators and book running lead managers to the Issue are Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited. The book running lead managers to the Issue are SBI Capital Markets Limited and ICICI Securities Limited.

Emaar MGF Land Limited IPO Open on Feb 01, 2008

Emaar MGF Land Limited is coming up with their IPO on Feburary 01 with a price Band of Rs. 610 to Rs, 690 Per Equity Share of Face Value Rs.10 each.

Bid/Issue Opene on Feb 01, 2008 ans will closes on Feb 06, 2008.

Emaar MGF Land Limited (EMGF), formerly Emaar MGF Land Private Limited, is engaged in the business of the development of properties in the residential, commercial, retail and hospitality sectors. EMGF’s operations span across various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. It is a joint venture between Emaar Properties PJSC and MGF Development Limited. In its residential business line, EMGF’s main focus is on developing integrated communities in the mid to luxury segment. In its commercial business line, EMGF is focused on developing, selling and leasing office, and special economic zone properties. In retail business line, the Company develops for sale or lease shopping centres within its integrated communities. In hospitality business line, it develops hotels at various price points in the luxury, up market, midmarket and budget segments across India.


ECE House, 28, Kasturba Gandhi Marg
New Delhi, 110 001
IND +91-11-41521155 (Phone)
+91-11-41203444 (Fax)
Company website:
http://www.emaarmgf.com/

Management

Shravan Gupta > Executive Vice Chairman of the Board, Managing Director Officer Since: 11/10/2005 Age: 33

Sanjay Baweja > Chief Financial Officer Age: 46

Bill Rattazzi > Chief Executive Officer – Residential/Townships Age: 56

Mukesh Dham > Executive President – Corporate Coordination and Support Age: 51

Rakesh Malhotra > Executive President – Business Development Age: 48

Shrikant Joshi > Chief Executive Officer – South of the Company Age: 49

Parminder S. Sehgal > Chief Executive Officer – North of the Company Age: 42

Sanjay Choudhary > Chief Executive Officer - Eastern Region Age: 47

Achal Raina > Chief Executive-Commercial Age: 42

Sanjay Malhotra > Chief Operating Officer Age: 42

Manjushree Extrusions IPO Opens on 31 Jan 2008

Manjushree Extrusions IPO opens for subscription on Thursday, January 31, 2008. Manjushree Extrusions IPO price band has been fixed at Rs. 45 per share of face value Rs. 10 each. The shares of Manjushree Extrusions Limited are already listed and actively traded on the Indian stock markets. Manjushree Extrusions IPO will close for subscription on Wednesday, February 06, 2008.


Manjushree Extrusions Limited (MEL) is an India-based company that is principally engaged in the manufacture of specialty plastic packaging products mainly containers and jars for multinational companies in fast moving consumer goods, pharma, food processing and agrochemical sectors. The products of the Company include injection / blow moulded polyethylene terephthalate (PET) / polypropylene (PP) and multilayer plastic containers, which are manufactured by adopting Japanese and European technologies. The Company has marketing offices at metros in the India, including at Mumbai, Chennai and Bangalore to coordinate and liaise with its customers. MEL markets its products under the brand names, such as POLYPET, DURAFLEX and THERMOPET. The clients of the Company include Hindustan Lever, Nestle, Cadbury, Britannia, Glaxo Smith Kline, P&G, Coca Cola, Tata Tea, Goodricke Group, McLeod, Godrej, Nutrine, Wrigley’s, Parry’s, Heinz and Reckitt.

143, C-5, Bommasandra Indl. Area, Hosur Road
Bangalore, 560 099
IND +91-80-7833478 (Phone)
+91-80-7833819 (Fax)


Management

Naresh K. Sharma > Compliance Officer, Secretary Age: 42

Vimal Kedia > Managing Director Officer Since: 11/13/1987 Age: 51

Surendra Kedia > Executive Director Officer Since: 11/13/1987 Age: 44

V. K. Baheti > Director - Operations Age: 57

Thiam N. Singh > Senior Plant Manager - Unit I Age: 50

Y. R. Gurudath > Plant Manager - Unit II Age: 40

R. Subrahmanyam > Manager – Materials Officer Since: 10/01/2005 Age: 43

S. Manimaran > Manager - Production & Quality Control Age: 35

Mahesh K. M. > Senior Deputy Manager – Maintaince Age: 34

Umesh D. H. > Deputy Manager - Maintaince (Materials) Age: 34

Source: Google Finaince

Markets trade in red: Metal, energy, realty down

The markets opened weak despite some positive expectations after the Fed rate cut yesterday. After opening marginally in green the Sensex and Nifty slipped in red. The cues have been mixed as Dow ended quiet and Asia is trading mixed. Wall Street ended lower; Dow slipped 37 points. NSE Advance:Decline was at 1:3. CNX Midcap index is down 1.5% and smallcap index is down 1%.

At 10:00 am, the Sensex was down 140 points at 17,616 and Nifty was down 44 points at 5122.

Tata Motors, Suzlon, M&M, Zee Ent, SAIL, Cairn, SBI, BPCL are among the major gainers on the indices.

Reliance, NTPC, ITC, Tata Steel, L&T, Cipla, TCS, Wipro, Satyam, Hindalco, RPL are among the top laggards.

The midcap and smallcap space has also opened quiet. Select bank stocks are looking better than the rest.

Asian markets have stabilised after an initial dip. Fed has cut the fed funds rate by 50 bps to 3% and discount rate by 50 bps to 3.50%.

The indices are trading mixed. Japan's Nikkei was up 1.5%, South Korea's Seoul Composite rose 0.97%. However, Hong Kong's Hang Seng is down over 200 points, Taiwan's Taiwan Weighted is marginally in red and Singapore's Straits Times is trading flat.

The Indian Rupee opened at Rs 39.39-39.40 per dollar versus Rs 39.38 yesterday.

Market cues:

NSE F&O Jan series expiry today; rollovers very low
Rel Power refund money to start coming in from tomorrow
SEBI says short selling by FIIs to begin shortly
SEBI says major progress in FII, sub-account registrations since Oct
FIIs net sell USD 70.7 mn in equity on Jan 29
FIIs have net sold USD 3.28 bn in Jan so far
MFs net sell Rs 116.8 cr in equity on Jan 29
NSE F&O Open Interest up vy Rs 1,322 cr at Rs 91,409 crore

F&O cues:

Stock Futures shed another 3 cr shares in Open Interest
Futures Open Interest up by Rs 151 crore
Options Open Interest up by Rs 1171 crore
Nifty Jan Futures shed 32 lakh shares in Open Interest
Nifty Feb Futures add 82 lakh shares in Open Interest
Nifty Feb Futures at 35-point discount
Nifty Open Interest Put-Call ratio unchanged at 0.91
Nifty Puts add 10 lakh shares in Open Interest
Nifty Calls add 12 lakh shares in Open Interest
Nifty 5200 Put adds 2.6 lakh shares in Open Interest
Nifty 5000 Put adds 2.58 lakh shares in Open Interest
Nifty 5200 Call adds 2.7 lakh shares in Open Interest
Nifty 5400 Call adds 1.95 lakh shares in Open Interest

Source: Moneycontrol

Wockhardt Hospital IPO out on 31 Jan at a Price Band Of Rs. 280 to Rs. 310 Per Share

Wockhardt Hospitals’ IPO will open on January 31, and close on February 5, the Indian company said on Tuesday. The company intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals, prepay short-term loans and meet general corporate expenses.

The company has fixed the price band between Rs 280 and Rs 310 per share. It filed a red herring prospectus with the Registrar of Companies, in Mumbai, on January 17, 2008. The issue will constitute 24.06% of the post-issue paid up share capital. Publisher’s Disclosure — Bennett, Coleman & Co holds 1.55% of the post-public issue equity capital of Wockhardt Hospital.

Incorporated in 1991, Wockhardt Hospitals Limited is one of the largest private healthcare services companies in India, based on the number of hospital beds, according to information provided by CRIS-INFAC’s report published in 2007.
Wockhardt Hospitals Limited, formerly First Hospitals and Heart Institute Limited, is a private healthcare services company. The Company has a superspecialty focus on core areas, such as cardiology and cardiac surgery, orthopedics, neurology and neurosurgery, urology and nephrology and critical care, and it specialize in minimally invasive surgery. It has a network of eight super-specialty hospitals and four regional specialty intensive care unit (ICU) hospitals providing healthcare services in western, southern and eastern India. The Company’s regional specialty ICU hospitals act as referral centers and the first point of critical care for its larger super-specialty hospitals. During the fiscal year ended March 31, 2007 (fiscal 2007), it performed over 10,000 interventional cardiac procedures, 1,000 orthopedic procedures and 400 neuro and spine surgeries. It has approximately 1,090 inpatient beds in use across its network of 12 facilities.

Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to:
Meet the cost of development and construction of greenfield and brownfield hospitals of the Company;
Prepay some of the short term loans of the Company;
Meet general corporate purposes including strategic initiatives;
Meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges.

Wockhardt Hospitals Limited IPO Information

»» Public Issue Open: January 31, 2008 to February 05, 2008
»» Public Issue Type: 100% Book Built Issue (Initial Public Offer IPO)
»» Public Issue Size: 25,087,097 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 280/- to Rs 310/-
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE, NSE
»» Lead Manager: Citigroup Global Markets India Private Limited & Kotak Mahindra Capital Company Limited.
»» Registrar: Intime Spectrum Registry Limited (Ph: +91-22-2596 0320 Email: whl.ipo@intimespectrum.com)

Wockhardt Hospitals Limited's financial information

Particulars For the year/period ended (Rs. in million)
30-Jun-07 31-Mar-07 31-Mar-06 31-Mar-05
Gross Sales 774.99 2367.04 1591.63 1292.30
Profit After Tax (PAT) 11.27 155.37 143.72 13.47



Wockhardt Hospitals Limited IPO Listing Info

IPO Listing Date:
BSE Script Code:
NSE Symbol:
Listing in:
ISIN:
Face Value: Rs 10/- Per Equity Share






Contact Info

Regitered Office :
Wockhardt Hospitals Limited,
Wockhardt Towers,
Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051, India
Phone: + 91-2226-534444
Fax: +91-2226-596814
Email: whlipo@wockhardthospitals.com
Website: http:// www.wockhardthospitals.com

Mkts end deep in red; oil&gas, power stocks worst hit

It was yet another weak and disappointing day for the markets which opened on weak and inconclusive note and traded under pressure through the day and finally ended with a deep cut. Oil & gas, realty, power and auto scrips were the worst hit counters however all the BSE indices ended in red. Midcaps and smallcaps are still finding difficult to attract investors attention and both the indices closed with over 2% decline.

Market breadth was negative through out the day and the volume was also not very impressive.


Sensex ended down 344.98 points or 1.91% at 17746.96, and the Nifty closed down 113.20 points or 2.14% at 5167.60. On BSE about 839 hares advanced, 2115 shares declined, and 43 shares were unchanged. BSE midcap ended down 2.57% at 7814.80 and Smallcap was down 2.2% at 10148.95.

Source: Moneycontrol.com

IPO Calender

IPO Issue Open Issue Close Listing At Price Range
Globus Spirits Limited IPO Feb 07, 2008 Feb 12, 2008 BSE, NSE Rs 140/- to Rs 160/-
SVEC Constructions Limited IPO Feb 04, 2008 Feb 08, 2008 BSE, NSE Rs 85/- to Rs 95/-
Emaar MGF Land Limited IPO Feb 01, 2008 Feb 06, 2008 BSE, NSE Rs 610/- to Rs 690/-
Tulsi Extrusions Limited IPO Feb 01, 2008 Feb 05, 2008 BSE, NSE Rs 80/- to Rs 85/-
Manjushree Extrusion Limited FPO Jan 31, 2008 Feb 06, 2008 BSE Rs 45/-
Wockhardt Hospitals Limited IPO Jan 31, 2008 Feb 05, 2008 BSE, NSE Rs 280/- to Rs 310/-
IRB Infrastructure Developers Ltd IPO Jan 31, 2008 Feb 05, 2008 BSE, NSE Rs 185/- to Rs 220/-
Shriram EPC Limited IPO Jan 29, 2008 Feb 01, 2008 BSE, NSE Rs 290/- to Rs 330/-
Bang Overseas Limited IPO Jan 28, 2008 Jan 31, 2008 BSE, NSE Rs 200/- to Rs 207/-

Dow ends up almost 300 points

Stocks snapped a five-day losing streak on Wednesday, with the Dow surging nearly 300 points on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses.

The market also drew support from growing confidence that aggressive interest-rate cuts by the Federal Reserve could help stabilize the economy and support the beleaguered banking sector.

Shares of insurers Ambac Financial Group Inc and MBIA Inc, which backstop many of the riskier bets banks and their customers have made in credit markets, surged 63 percent and nearly 36 percent, respectively.

News of a meeting between New York regulators, bond insurers and their customers lifted the market out of negative territory in late afternoon trading, pushing the Dow and S&P up more than 2 percent by the close. That marked a sharp turnaround from earlier in the day, when the Dow and the S&P were each down more than 2 percent.

"The speculation that mortgage insurers could potentially get a bailout helped the market stabilize. That was enough to get the market going. There was no real silver bullet news that came through," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

The Dow Jones industrial average was up 298.98 points, or 2.50 percent, at 12,270.17. The Standard & Poor's 500 Index was up 28.10 points, or 2.14 percent, at 1,338.60. The Nasdaq Composite Index was up 24.14 points, or 1.05 percent, at 2,316.41.

The New York State Insurance Department met with bond insurance counterparties and policyholders, spokesman David Neustadt said.

Ambac settled up at $13.01, up $5.04, while MBIA ended at $17, up $4.47, and the S&P financial index jumped 6.8 percent, its biggest one-day percentage gain in more than five years.

"That (bailout plan) combined with the Fed push was really enough to get the financials running," said Rick Meckler, president of broker-dealer LibertyView Capital Management in Jersey City, New Jersey.

Stocks started the day sharply weaker, with disappointing profit forecasts from Apple Inc and Motorola adding to worries about a recession and the outlook for the tech sector.

The Nasdaq was down more than 3 percent at one point, and, for the second day, the index briefly crossed the threshold of a bear market, which is defined as falling 20 percent or more from a recent closing high.

After Tuesday's closing bell, Apple forecast a quarterly profit below analysts' expectations and reported disappointing holiday-season iPod shipments. Apple's stock sank 10.7 percent to $139.07 on the Nasdaq.

Mobile phone maker Motorola Inc forecast a loss for the current quarter and said it expects a challenging year.

Motorola shares lost 18.4 percent to $10.05 and ranked among the biggest percentage losers on the New York Stock Exchange.

Source: Reuters

No need to worry on West's fall, eco growing at 8.9%: FM

Union finance minister P Chidambaram said the economy is expected to grow 8.5% next year and 8.9% this year. So there is "no reason to allow the worries of western world to ovewhelm us, our economy is very strong," he reassured, adding that liquidity is not an issue.

Speaking about the drastic fall, the finance minister said "the fall does not impact long term markets" and "fundamentals are sound."

His advice to investors at this point of time is to stay calm.

He assured that corporate profits are high and corporate tax is at all-time high too. He doesn't feel the need to advise domestic institutions on any action, as the institutions are best judges of market valuation. "The crash does not impact long-term sentiment", he said and thar "enough liquidity will be provided".

The FM has ruled out the possibility of any foul-play.

Source: Moneycontrol.com

Govt says stock market crash due to global factors

A sharp fall in the local stock market on Monday was triggered by uncertainties in the global economy and was in no way related to any change in India's economic fundamentals, the government said on Monday.

"The fundamentals in the domestic economy are quite strong. Today's market fall reflects the continuing uncertainties in the global economy and not any change in the fundamentals of the Indian economy," the government said in a statement.

Indian shares tumbled almost 11 percent to a four-month intra-day low on Monday, suffering their biggest intra-day points fall ever on margin calls and foreign selling, before paring their losses to end down 7.4 percent.

Source: Reuters

Indian shares lose 7.4 pct in vicious sell-off

Indian shares tumbled almost 11 percent to a four-month intra-day low on Monday, suffering their biggest intra-day points fall ever on margin calls and foreign selling, before paring their losses to end down 7.4 percent.

The drop of more than 2,000 points triggered a brief halt in afternoon trading on the benchmark BSE 30-share index.

"It was panic," said Nikhil Jain, an independent trader.


"You should have seen the faces of people playing in the futures and options market. People even said 'I won't play in the markets any more'."

At the depth of the sell-off the market had shed 10.85 percent to 16,951.50, its lowest since late September, but short of a 17 percent intra-day fall in May 2004 that followed an unexpected election result.

Local funds were buyers after the trading halt, and in the last 40 minutes the market recovered somewhat to close 7.41 percent down at 17,605.35 points.

Index heavyweights Reliance Industries Ltd and private lender ICICI Bank Ltd led the drop as stocks around Asia felt the heat of investor disappointment at a U.S. stimulus proposal, with markets concerned it may not prevent a recession.

Dealers said the market was already short of cash after India's largest initial public offering closed on Friday, and the situation was exacerbated after margin calls following last week's index fall of almost 9 percent.

"The fall is led by margin funding calls which has triggered this large selling, and plus there is a liquidity shortage," said Vikas Khemani, co-head of institutional equities at Enam Securities.

"We have corrected the most among the Asian markets. Factors like weakness in overseas markets have also contributed to the fall," Khemani said.

CIRCUIT BREAKS

The 50-share NSE index shed as much as 12.76 percent to a four-month low of 4,977.10 points before closing 8.7 percent down at 5,208.80.

Data on the BSE Web site showed selling was so heavy that almost 50 percent of stocks had sellers but no buyers.

It said 1,325 companies hit their lower circuit, where trading in that stock is automatically halted. On the broader market, 2,657 stocks fell, outweighing just 137 gainers in total volume of more than 425 million shares.

The benchmark index hit the latest in a series of record highs on Jan. 10, after a 47 percent gain in 2007.

But it tumbled sharply last week as other markets fell and analysts said pressure stemmed from a $3 billion IPO from Reliance Power, which had investors borrowing to be part of the sale. At Monday's close, the index was 17 percent below its peak.

"There is a liquidity squeeze right now in the market because a lot of people who had borrowed money to invest in the big IPOs have not been able to raise cash in this market," said Deepak Jasani, head of retail research at HDFC Securities.

Paras Adenwalla, chief investment officer of equity at ING Investment Management, said the market had needed a correction and he saw it falling a further 5-10 percent.

"The premium that the Indian markets are getting will certainly shrink significantly," Adenwalla said.

Elsewhere, Karachi's 100-share index eased 0.18 percent to 13,850.03 points while Colombo's All-Share index gained 0.24 percent to 2,387.93 points.

STOCKS THAT MOVED

* Oil and Natural Gas Corp (ONGC), India's largest oil producer, shares fell 7.9 percent after its quarterly net profit fell 6.5 percent.

* Reliance Industries, India's most valuable listed firm, fell 9.1 percent to 2,544.20, a three-month closing low, and ICICI Bank, the country's most valuable bank, fell 5.8 percent.

Together the two firms account for more than one quarter of the benchmark index.

* Shares in India's fourth-biggest outsourcing firm, Satyam eased just 0.32 percent after it reported a 29 percent rise in quarterly profit due to new clients, and raised its full-year outlook.

MAIN TOP 3 BY VOLUME:

* Reliance Natural Resources Ltd on 27.5 million shares.

* Ispat Industries Ltd on 25.5 million shares.

* Reliance Petroleum Ltd on 24.7 million shares.


Source: Reuters

Black Monday again: Biggest ever point fall for mkts

t was a highly dramatic and scary day for markets as markets saw their biggest ever fall. It was the worst day of trading in our trading history as the pace of the fall was unnerving. We started weak and with heavy bouts of selling was seen during the day with Sensex and Nifty down almost 12% at one point of time. Sensex went below 17,000 mark during the course of the day and Nifty sub 5000 mark.


BSE was shut for a brief period of time however it resumed trading immediately. Later it recovered Sensex recovered 700 points from the day's low and finally Nifty closed down 8.5% and Sensex was down 7%.


Sensex closed down 1,408.35 points or 7.41% at 17605.35, and the Nifty down 496.50 points or 8.70% at 5208.80.

About 213 shares have advanced, 2746 shares declined, and 22 shares are unchanged.

Before this the markets saw the second highest point fall on May 18, 2006; Sensex was down 826 pts (6.76%) on account of Government circular on taxing investment gains; heavy selling by FIIs, retail investors and a weakness in global markets.

On April 28, 1992; Sensex was down 570 pts (12.77%) on account of Harshad Mehta securities scam. On May 17, 2004; Black Monday. Sensex was down by 565 points on concerns over NDA losing election to loses BJP.

It has not only been the pressure from global peers but on the domestic front also with increased unwinding pressure the fall has been accentuated.

Even experts were a bit shaken and shocked with the nasty fall. According to Raamdeo Agarwal with global news not favourable there might be a further fall in the markets. He feels that Indian markets can't remain isolated when selling is seen in markets across globe including Asia.

Markets broke all the important technical and psychological levels.According to analyst the scenario was similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

India was the worst performing market today in Asia; US recession fears have aggravated which led to Japan's Nikkei declining 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.

Europe is trading extremely weak with DAX down over 3% followed by CAC and FTSE.

After seeing a sharp fall of over 15%, the BSE midcap and smallcap index closed down 10%.

Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty and metal index were down over 13%, followed by power and oil & gas index was down over 10%. Pharma and auto were down over 7%.

Among the biggest midcap losers Nagarjuna Fert, WWIL, Oswal Chem down 33%, Essar Oil down 30% Ispat Ind was down 30%, Bajaj Hind down 28% and Chambal & Arvind down 26%.

Among the top Nifty losers RPL, REL, Bajaj Auto were down 19%, Tata Power down 16%.

The BSE Midcap Index ended at 7,881.99 down 11%.

The BSE Smallcap Index ended at 10,911.66 down 10%.

The BSE Bankex ended at 10,582.01 down 7%. ICICI Bank, Centurion Bank, HDFC Bank, Federal Bank, Canara Bank moved downwards.

The BSE Capital Goods Index closed down 7% at 17,087.82. Triveni Engg, Siemens, L&T, Thermax closed lower.

The BSE Auto Index closed at 4,664.53 down 10%. Hind Motors, Bharat Forge, Tube Investment, Maruti Suzuki, Apollo Tyres closed lower.

The BSE Metal Index closed at 14,963.38 down 13%. Among the top losers were Jindal Steel down 27%, SAIL down 13%, Tata Steel down 8%.

The BSE FMCG Index closed down 6% at 2,173.21. Colgate, ITC, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower

BSE Oil and Gas Index closed at 11,089.33 down 12%. RIL down 9.3%, ONGC down 7.9%. Reliance Natura, HPCL, RPL also ended in red

BSE power index closed at 3,828.81 down 11%. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.

The BSE IT Index was down 6% at 3,573.25. I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra, TCS, Infosys closed lower.

The NSE cash turnover was at Rs 24508.6 crore and the NSE F&O turnover was at Rs 82241.65 crore. The BSE cash turnover was Rs 9305.91 crore. Total market wide turnover was at Rs 116056.16 crore.




Mkts mayhem: Sensex below 18K; Nifty below 5200

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets at 3:00 pm, Nifty was down 9.5% and Sensex was down 8.5%. Sensex has recovered 700 points from the day's low.

Among the biggest midcap losers Nagarjuna Fert, WWIL, Oswal Chem down 33%, Essar Oil down 30% Ispat Ind was down 30%, Bajaj Hind down 28% and Chambal & Arvind down 26%.

RPL, REL, Bajaj Auto down 19%, Tata Power down 16%.

After stopping for a while; BSE resumed trading again. It cannot happen one exchange stops trade and the other continues.

It has broken all technical and psychological levels. Breadth has worsened and the advance decline ratio is over 1:70. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

India is the worst performing market today and Japan's Nikkei declined 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.

Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

Unitech down 14%, Reliance Communication 11%, L&T, GAIL, SAIL down over 10%, ICICI, Reliance Enegy, DLF and Bajaj Auto down over 8% Reliance Petroleun down over 7%, VSNL 7.6%, BPCL down 6% and ABB down 7%.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 15%.

Mkts mayhem: Sensex breaches 17K; Nifty below 5K

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets and nearing to hit a down circuit which comes in at Sensex, Nifty down 15%. CNX Midcap is down 15% now. Now the Sensex and Nifty are down over 10%. Sensex is below 17,000 and Nifty is below 5000 and margin call is seen building up. It has been the biggest ever intra day fall for Sensex and Nifty.

After stopping for a while; BSE resumed trading again. It cannot happen one exchange stops trade and the other continues.

Sensex is down over 2000 points and Nifty is down 600 points.

It has broken all technical and psychological levels. Both Sensex and Nifty has fallen 16% from their highs. Breadth has worsened and the advance decline ratio is over 1:70. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

India is the worst performing market today and Japan's Nikkei declined 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.

Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

Unitech down 14%, Reliance Communication 11%, L&T, GAIL, SAIL down over 10%, ICICI, Reliance Enegy, DLF and Bajaj Auto down over 8% Reliance Petroleun down over 7%, VSNL 7.6%, BPCL down 6% and ABB down 7%.

Ispat down 17%, RNRL down 10%, JP Hydro down 13%.

At 2:20 pm, the Sensex is down 1,557.22 points or 8.19% at 17456.48, and the Nifty down 522.70 points or 9.16% at 5182.60. About 219 shares have advanced, 2740 shares declined, and 22 shares are unchanged.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 8%.

Mkts crash: Nifty below 5,300; Sensex breaches 18,000

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets and nearing to hit a down circuit which comes in at 10% down. Now the Sensex and Nifty are down nearly 7%. Margin call is seen building up.

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets and nearing to hit a down circuit which comes in at 10% down. Now the Sensex and Nifty are down nearly 7%. Margin call is seen building up.

It has broken all technical and psychological levels. The Sensex is down over 1350 points and Nifty is down over 400 points. Sensex is down 18000 mark and India is the worst performing market Nifty has breached 5400 mark is trading near the day's low.

Both Sensex and Nifty has fallen 16% from their highs. Breadth has worsened and the advance decline ratio is over 1:44. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

India is the worst performing market today and Japan's Nikkei declined 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.

Realty, metal, midcap index have collapsed, however all the BSE indeces were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

At 12.59 hrs IST, the Sensex is down 1,219.53 points or 6.41% at 17794.17, and the Nifty down 415.75 points or 7.29% at 5289.55.

About 242 shares have advanced, 2715 shares declined, and 24 shares are unchanged.

Unitech down 14%, Reliance Communication 11%, L&T, GAIL, SAIL down over 10%, ICICI, Reliance Enegy, DLF and Bajaj Auto down over 8% Reliance Petroleun down over 7%, VSNL 7.6%, BPCL down 6% and ABB down 7%.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 8%.

Dealing room check

* Nifty 5500 acting at a support
* Margin pressure likely if Nifty breaches 5500
* Bottom fishing by DIIs and Bank treasury at lower levels
* Bounce back may be sold into if supply continues
* Selling pressure continues at FII desk
* Domestic liquidity a concern in short term
* Retail participation very low

Mkts still under pressure; realty, metal, midcaps collapse

The markets have recovered slightly from the early lows but are still trading under immense pressure. Breadth on the NSE are still very weak and the advance decline ratio is over 1:18. Realty, metal and midcap index have collapsed today and are trading with nearly 5% cut each. However, all the key BSE indices are in red.

At 11.45 hrs IST, the Sensex is down 391.59 points or 2.06% at 18622.11, and the Nifty down 128.55 points or 2.25% at 5576.75. About 416 shares have advanced, 2540 shares declined, and 25 shares are unchanged.

Top gainers on the Nifty are Ranbaxy Labs at Rs 390.55 up 0.68%, Reliance Energy at Rs 2,131 up 0.35% and NALCO at Rs 437.20 up 0.17%

Top losers on the Nifty are VSNL at Rs 595 down 7.6%, BPCL at Rs 413.50 down 5.87% and ABB at Rs 1,287.65 down 5.74%.

Mkts witnessing panic selling; breadth extremely negative

The markets are witnessing panic selling pressure and have lost further ground. Weak cues from the global markets followed by the liquidity crunch on the back of mega IPO's in the recent past have been the major factor for this relentless fall.

All the key BSE indices are trading in red with significant cuts led by the realty, midcaps, banking, capital goods and metals. Breadth on the NSE was extremely negative. Advance decline ratio was 1:15.

At 11.05 hrs IST, the Sensex is down 388.65 points or 2.04% at 18625.05, and the Nifty down 126.15 points or 2.21% at 5579.15. About 373 shares have advanced, 2575 shares declined, and 33 shares are unchanged.

Ranbaxy was the only stock on on Sensex which was in green. DLF, ITC and Rel Comm were the leading losers on the Sensex.

On Nifty, major gainers were Suzlon, Ranbaxy Lab, Nalco. However, GAIL, BPCL and Unitech were the top gainers.

Reliance Industries, RNRL, Reliance Energy were the most active counters today so far.

Mkts open with deep cut; power, metal, banks down

The markets opened on extremely weak note following the negative cues from the global markets and liquidity crunch due to mega IPO's in the recent past. Heavy selling was seen across the sectors in the opening trade led by the capital goods, metal, power and banking stocks.

At 9:56 am, Sensex was down 245 points at 18768 and Nifty was down 5624. Major losers in the opening trade were NTPC, RPL, ICICI Bank, Infosys, RIL, Unitech, Rel Comm and VSNL.

Asian markets were trading weak. Hong Kong's Hang Seng slipped 2.51% or 633.15 points at 24,568.72. Japan's Nikkei plunged 3.36% or 466.01 points at 13,395.28. Singapore's Straits Times fell 1.48% or 45.82 points at 3,058.43. South Korea's Seoul Composite declined 1.99% or 34.57 points at 1,700.15. Taiwan's Taiwan Weighted dropped 0.21% or 17.20 points at 8,167.45.

Market cues:

* FIIs net sell USD 541.9 million in equity on Jan 17
* MFs net buy Rs 361.2 cr in equity on Jan 17
* NSE F&O Open Int down by Rs 3506 crore at Rs 1.30 lakh crore

F&O cues:

* Futures Open Int down by Rs 4381 cr, Options Open Int up by Rs 875 crore
* Nifty futures add 11 lakh shares in Open Int, at 25-point premium
* Nifty Open Int PCR at 1.05 vs 1.11; has fallen from over 1.30 a week ago
* Nifty Puts Open Int unchanged, Nifty Calls add 8.7 lakh shares in Open Int
* Nifty 6000 Put sheds 3.2 lakh shares in Open Int
* Nifty 5500 Put adds 2.3 lakh shares in Open Int
* Nifty 5700 Put adds 1.8 lakh shares in Open Int
* Nifty 5800 Call adds 3 lakh shares in Open Int
* Nifty 5900 Call adds 1.9 lakh shares in Open Int


Source: Moneycontrol.com