Mutual Fund Draft Offer Documents - August 27, 2008
The draft offer document of the following mutual fund scheme is put up on SEBI’s website for public viewing and commenting:
Lotus India FMP 3 Months - Series 36 - 38
Add commentAugust 27th, 2008
Archive for August 27th, 2008
Markets close day after Realty and Banking stocks go on selling spree
Wednesday, August 27, 2008 4:08:40 PM IST
Heavy selling in the Realty and Banking stocks and in Capital Goods and Power stocks to a certain extent during the last two hours of trade has pulled the stock markets down.
The NSE Nifty closed the day at 4292.10 down by 1.05%. CNX IT is down 0.49% while Bank Nifty is down 2.01%. CNX 100 is down 1.03% while CNX 500 is down 0.97%
Sensex closed the day at 14724.18 down by 368.94 points or 2.44%. BSE Midcap and Smallcap indices closed the day down by 1.79% and 1.65% respectively.
On the BSE Sectoral indices front, IT is up 2.18% while Realty is down by a whopping 7.97%. Bankex is down 5.07% and Capital Goods is down 3.71%
DLF and Reliance Infra are down over 3% each. SBI, ICICI Bank, Unitech, Tata Motors, BHEL, Relaince Communications, Power Grid are all down by over 2%. HDFC is down by 1.95%
Dr. Reddy and Hindalco are up over 2% each. Other Nifty gainers include SAIL, Hero Honda (both up 1%), GAIL, ABB, Idea, Tata Steel, Punjab National Bank and Infosys (all marginal gains).
1 U.S. dollar = 43.5142 Indian Rupees
1 U.S. dollar = 108.9680 Japanese Yens
1 U.S. dollar = 0.6797 Euros
1 Ounce Gold = $833.10
1 Barrel Crude Oil = $117.60
Add commentAugust 27th, 2008
Markets slips on heavy selling; DLF down 4.2%
Wednesday, August 27, 2008 2:56:30 PM IST
Selling pressure is back to the markets as the indices began to fall touching new intraday lows.
The flat-trading trend is now no more as the Nifty is now down 0.88%. CNX IT is down 0.31% while Bank Nifty is down 1.40%
DLF is down 4.23% on the Nifty. Other major losers include Reliance Infra, Reliance Communications, ICICI Bank, Tata Motors, HDFC, Unitech (all down over 2%), BHEL, Tata Power and HDFC Bank (all down over 1%)
On the Nifty gainers list are Dr. Reddy (up over 3.0%), SAIL, GAIL, Hindalco, Hero Honda, Idea (all up over 1%), Tata Steel, Sterlite, Infosys, ABB (marginally in the green)
The Sensex is now down 1.08% and is at 14325 levels. Midcap and Smallcap indices too slipped into the red. All sectoral indices on the BSE are now in the red, Realty down by 3.38 being the worst hit.
1 U.S. dollar = 43.5312 Indian Rupees
1 U.S. dollar = 108.9680 Japanese Yens
1 U.S. dollar = 0.6809 Euros
1 Ounce Gold = $833.40
1 Barrel Crude Oil = $117.15
Add commentAugust 27th, 2008
Markets make recovery attempts but still in red; Punj Lloyd at 287.10
Wednesday, August 27, 2008 1:48:52 PM IST
Attempts by market to recover were subdued in the last hour of trade. The Nifty is now at 4336.7 down 0.02%. IT stocks made a little recovery. BSE Sensex is at 14449.42 down 32.8 points. Punj Lloyd is trading at 287.10
CNX IT is up 0.46% while Bank Nifty is down 0.35%
Top Nifty gainers include Dr. Reddy, GAIL (both up over 3%), SAIL (up over 2%), Sun Pharma, Tata Steel, Hero Honda, Punjab National Bank, Hindalco, Power Grid and Infosys Technologies (all up over 1%)
On the losing side of Nifty are DLF, Tata Power, ICICI Bank, BHEL (all down over 1%), TCS, Reliance Infra, National Aluminium, HDFC Bank, Reliance Communications and Reliance (all marginally down)
Realty, Bankex, Power, FMCG and Oil & Gas remain to be the losing secotral indices on the BSE. IT, Consumer Durables, Health care are up.
Punj Lloyd in a tie up with an Italian company Saipem is planning to bid for the Singapore’s Liquefied Natural Gas (LNG) terminal. The project needs to be commissioned by 2011 and is worth $1 billion.
Punj Lloyd plans to execute the project through its Singapore subsidary. Punj Lloyd will be competing with three other global players for this project. The Engineering procurement and construction company has reasonably good experience in LNG projects. With a good order book in hand, the company is poised to be a leading player in various segments it is tragetting by 2011-12.
Punj Lloyd is trading at 287.10. Its 52-week high price is 656.00 while its 52-week low price is 183.25
1 U.S. dollar = 43.5312554 Indian rupees
1 U.S. dollar = 108.968072 Japanese yen
1 U.S. dollar = 0.680920605 Euros
1 Ounce Gold = $829.80
1 Barrel Crude Oil = $116.97
Add commentAugust 27th, 2008
Markets continue to stay in red; trading flat - All eyes on ONGC
Wednesday, August 27, 2008 12:37:17 PM IST
Markets are flat during the last one hour of trade. The NSE Nifty is now at 4326 down 0.26% while BSE Sensex is down by 62 points and is testing the 14400 levels. ONGC is trading at 1025.50 levels.
The CNX IT is down 0.03% while the Bank Nifty is down 0.37% CNX Midcap index slipped a bit and is now up by 0.20%
BSE Sensex is trading at 14419 level down nt 63 points. Realty, Oil & Gas, Bankex, Power, FMCG and Capital Goods indices are down while Consumer Durables, metal, Healht Care, IT and Auto are marginally up.
Toppers on Nifty include Dr. Reddy (now up by 3%), Sun Pharma (up 2%), SAIL, GAIL, Tata Steel, Hero Honda, ABB (all up over 1%), ONGC, Power Grid and Hindalco (marginally up).
Top losers on the Nifty include DLF (down over 2%), Tata Power, Reliance Infra, BHEL, Reliance, TCS, Grasim, RPL (down over 1%), National Aluminium and Satyam (both marginally down)
ONGC Videsh is all buzzing as it is almost close to acquire Imperial Energy Corp Plc after the former announced it will be ready to pay 1.4 bn pounds ($2.6 bn) for the takeover and is about to submit its bid. This gives ONGC a sense of security for its oil supplies. Imperial Energy has good projects in the Russia. For now, ONGC has beat China’s Sinopec in its bid to acquire Imperial.
ONGC is trading at 1024. Its 52-week high and 52-week are 1385.05 and 778.70 respectively.
Markets analysts are giving a Hold rating for the stock with a target of 1170 - 1250
1 U.S. dollar = 43.7292286 Indian rupees
1 U.S. dollar = 109.48106 Japanese yen
1 U.S. dollar = 0.683200109 Euros
1 Ounce Gold = $826.10
1 Barrel Crude Oil = $116.43
Add commentAugust 27th, 2008