This banking sector counter has been going through an ascending triangle type consolidation in the past few weeks. A failure to exceed 390-95 levels clearly suggests that the bears are still in force to absorb every demand near these levels. However what provides a positive hint is the fact that during this consolidation prices are [...]
Reliance Capital is currently trading at Rs 831.10,up by 4.30 points or 0.52% from its previous closing of Rs 826.80 on the BSE. The scrip opened at Rs 802 and has touched a high of Rs 838.45 with a low of Rs 730. So far 1413067 shares were traded on the counter. The BSE group [...]
Infratech aims to raise Rs25 billion via a mix of an IPO and stake sale, entailing the dilution of a 15–17% stake. This would value the company at approximately Rs160 billion (vis-à-vis our estimate of Rs81 billion). The management is likely to dilute 5% of its stake though an offer for sale and the balance [...]
Equities bounced back from intraday lows but ended in the red Friday on fears of financial crisis in Dubai. The decline was led by losses in IT, capital goods and metals space National Stock Exchange’s Nifty ended at 4942.40, down 63.15 points or 1.26 per cent. The index touched an intraday low of 4806.70 and [...]
Reliance Communications (RCom), India’s largest and only nationwide operator offering both GSM and CDMA mobile services, has introduced two revolutionary SMS tariff to its customers. This is one of its kind move initiated by the company in the Indian telecom industry by making SMS more affordable to all mobile customers in India. The two newly [...]
The initial public offer (IPO) of MBL Infrastructures, the construction company, will open for subscription on November 27, 2009 and will close on December 1, 2009. The company is coming out with an initial public offering (IPO) of 57 lakh shares of Rs 10 each for cash aggregating to over Rs 100 crore. The issue [...]
Indian shares extended losses to 2% on Thursday afternoon, with banks leading the fall. “Trade will be lacklustre until the second half when we will see more action as derivatives contracts expire today,” said Vaibhav Sanghavi, director of Ambit Capital. Reliance Industries, which has the most weight in the index, slipped 0.3% to 1,093.45 rupees [...]
Beckons Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 25, 2009, inter alia, has discussed and decided the following: 1. Resolved to recommend the increase of Authorised Share Capital of the Company from Rs. 38.00 Crore to Rs. 80.00 Crore under the provisions of [...]
JSW Energy will come out with its Initial Public Offer (IPO) on December 7, 2009 in order to raise Rs 2,700 crore. The issue will close on December 10, 2009. This IPO will be the first from the JSW Group in the past 15 years, said Sajjan Jindal, vice chairman and managing director. The price [...]
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Ranbaxy – Short-Term Investments
This stock was trapped in a tight congestion phase for several days and had a tough battle with 425-430 levels. A look at the attached weekly chart clearly suggests that this level was formed by a stiff resistance of the 62% retracement of the entire primary decline. The recent rise was quite swift and decisive [...]