Indian Share Bazzar

Inflation at 11.44%: Experts see repo rate cut

2008-10-17T00:51:00.003+05:30

Inflation is down at 11.44%, down from 11.80% week-on-week. A CNBC-TV18 poll had earlier predicted inflation at 11.81% for the week ended October 4.

Inflation for week ended August 9 was revised to 12.82% from 12.6%. The Wholesale Price Index (WPI) for all commodities was down 0.5% at 239.6 week-on-week.

Reacting to the almost half-percentage fall in inflation week-on-week, Indranil Pan, Chief Economist at Kotak Mahindra Bank, said the coming down of inflation has caught him by surprise. "We were expecting (a number) close to the 12% mark because there was a small base-effect in this week," Pan said.

Elaborating on possible factors that could have led to the lower numbers, Pan said, "It could have been the passive effect of previous week’s dip in the manufacturing items. Also, globally, all commodity prices have been coming down significantly. With oil prices close to USD 73 per barrel today and looking lower because of the demand destruction globally, these would have been one of the crucial factors."

Shubhada Rao, Chief Economist, Yes Bank, said given the current trend, inflation might come down to single-digit numbers by January rather than March as earlier expected. "This has been the steepest decline week-over-week that we have possibly seen in a year or so and given this trend, January itself, we could see a single-digit number on our screens," Rao said.

Rao also said the substantial fall in the inflation number could trigger another round of repo rate cut. She said, "The probability of a rate cut now even increases further. A 50-basis point cut is on cards." Read the full interview here.

Inflation internals:
Primary articles up 0.2%; food articles up 0.7%
Non-food articles down 1%; fuel power, light down 1.1%
Naphtha down 11%, furnace oil down 5%, turbine fuel down 6%
Manufactured products down 0.5%, food products down 2.4%
Basic metals, alloys, metal products down 0.6%

Courtsy: Moneycontrol

Grey Market Premiums as on January 17, ‘08

2008-01-18T00:57:00.000+05:30

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak
Future Capital	700 to 765	550 to 570	1800 to 2000
Reliance Power	405 to 450	300 to 320	6200 to 6300
J. Kumar Infra Project	110 to 120	25 to 28	2000 to 2200
Cords Cable Ind. Ltd	125 to 135	30 to 32	1800 to 2000
Emaar MGF	725 to 850	360 to 380	-
OnMobile	425 to 450	-	-

Grey Market Premiums as on January 16, ‘08

2008-01-17T00:14:00.000+05:30

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak
Future Capital	700 to 765	540 to 550	2200 to 2400
Reliance Power	405 to 450	300 to 350	6400 to 6600
J. Kumar Infra Project	110 to 120	30 to 35	-
Cords Cable Ind. Ltd	125 to 135	35 to 37	-
Emaar MGF	725 to 850	360 to 380	-

Final Bid Details - Closed Issues

2007-12-20T12:19:00.000+05:30

MANAKSIA Ltd.		ARIES AGRO Ltd.
Qualified institutional buyers	13.70	Qualified institutional buyers	8.16
Non institutional investors	2.72	Non institutional investors	8.51
Retail individual investors	5.09	Retail individual investors	6.46
Employee Reservation	0.05	Employee Reservation	-
Total	8.98	Total	7.62

Grey Market Premiums as on December 20, ‘07

2007-12-20T12:12:00.001+05:30

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak
eClerx Services	270 to 315	28 to 30	-
BGR Energy	425 to 480	380 to 390	2100 to 2200
Transformers & Rectifiers	425 to 465	320 to 330	1600 to 1700
Brigade Enterprise	351 to 390	15 to 20	1400 to 1500
Burnpur Cement Ltd.	12	4 to 5	-
Aries Agro	120 to 130	13 to 14	-
Manaksia Ltd.	140 to 160	38 to 40	-
Porwal Autocompotants	68 to 75	10 to 11	-
Precision Pipes & Profiles	140 to 150	27 to 30	-

Short Term Tip

2007-12-17T01:29:00.000+05:30

Scripts	CMP	Target	Stop Loss	52 week High / Low	Volume	Face Value	EPS	P/E
Epic Energy	157	209	151	178 / 33.10	16407	10	3.11	50.48
Tourism Finance	41.6	63	38	43.85 / 9.52	1,097,719	10	2.33	18.65
Steelcast	203.9	288	191	325 / 142.5	1,570	10	26.43	7.71
City union Bank	424.15	560	399	465.95 / 113.55	290,451	10	34.92	12.15
Heg ltd	546.45	559	539	560 / 125	154,687	10	28.65	19.07
Cairn India	225.65	262	219	230 / 111	1,489,226	10	-	-
BOB	430.5	524	424	442.3 / 188.5	156,009	10	33.59	12.85
Oswal Chemical & Fert.	70.85	79	66	71.9 /25.5	14,062,566	10	3.43	1.38
R.com	759.95	845	749	815 / 277.5	1,723,068	5	15.02	50.60
Biocon	607.05	682	599	663.3 / 342	175,556	5	18.37	33.05

Market Statistics

2007-12-14T18:33:00.000+05:30

BSE

14-Dec 16:01

Top Gainers
Company	Close	% Gain
ACC	1,102.60	3.58
Ranbaxy Labs	422.20	2.69
Cipla	209.15	2.65
HUL	216.95	2.33

Top Losers
Company	Close	% Loss
Bharti Airtel	952.55	-3.57
ICICI Bank	1,206.85	-2.87
HDFC	3,058.80	-2.51
Satyam	411.10	-2.36

NSE

14-Dec 16:41

Top Gainers
Company	Close	% Gain
GlaxoSmithKline	1,092.95	5.17
ACC	1,103.10	3.69
Cairn India	225.90	3.20
HUL	218.70	3.16

Top Losers
Company	Close	% Loss
Bharti Airtel	954.30	-3.43
HDFC	3,060.75	-3.43
ICICI Bank	1,206.95	-2.89
Tata Motors	744.85	-2.40

Short Term Tip

2007-12-14T00:49:00.000+05:30

Buy Sujana Metal
Figures on 13th December '07
Price : 39.80
Open/High/Close : 39.65/41.85/38.25
Volume : 2,255,224
52 week High Low : 154.80 17 May 2007 / 27.00 17 July 2007
Face Value : 5
EPS (TTM) : 8.42
P/E : 4.73
Target : 80 - 85
Stop Loss : 35.75
Web Site : http://www.sujana.com/

Final Bid Details - Closed Issue

2007-12-14T00:44:00.000+05:30

Brigade Enterprises Limited

QIBs - 18.2861 times
Non Institutional Investors - 4.8861 times
Retail Individual Investors - 5.5945 times
Employee Reservation - 1.4566 times

Grey Market Premiums as of December 14 '07

2007-12-14T00:36:00.000+05:30

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak
eClerx Services	270 to 315	40 to 50	-
BGR Energy	425 to 480	360 to 375 (Buyer)	2100 to 2200
Transformers & Rectifiers	425 to 465	350 to 360 (Buyer)	1600 to 1700
Brigade Enterprise	351 to 390	40 to 50 (Seller)	1400 to 1500
Jyothi Lab.	690	225 to 235	-
Burnpur Cement Ltd.	12	5 to 7	-
Kolte Patil	145	80 to 85	-
Kaushalya Infra	60	10 to 12	-
Aries Agro	120 to 130	40 to 45	-
Manaksia Ltd.	140 to 160	40 to 50	-
Porwal Autocompotants	68 to 75	20 to 25	-
Precision Pipes & Profiles	140 to 150	40 to 50	-

IPO Diary

2007-12-13T16:51:00.000+05:30

ARIES AGRO LIMITED From : December 14 to 19 Issue Size : 4500000 Equity Shares Price Range : Rs 120 - 130	MANAKSIA LIMITED From : December 17 to 19 Issue Size : 15500000 Equity Shares Price Range : Rs 140 - 160
Precision Pipes & Profiles Co. Ltd. From : December 17 to 20 Issue Size : (.) Equity Shares aggregating Rs. 7500 Lacs Price Range : Rs 140 - 160	Porwal Auto Components From : December 17 to 20 Issue Size : 34.00 - 37.50 Cr Price Range : Rs 68 - 75

Daily Trends in FII Investments

2007-12-13T11:57:00.000+05:30

DATE : December 12 '07
GROSS PURCHASES Rs.Cr.
Eqity : 4178.2
Debt : 427
Gross Sales Rs.Cr.
Eqity : 3488.3
Debt : 0
NET INVESTMENT Rs.Cr.
Eqity : 689.9
Debt : 427
CUMULATIIVE INVESTMENT US $M AT MONTHLY EXCHANGE RATIO
Eqity : 171
Debt : 105.8

Source : CapitalMarket.com

Final Bid Details - Closed Issue

2007-12-13T00:35:00.000+05:30

BGR ENERGY

QIBs - 161.6744 times
Non Institutional Investors - 153.0816 times
Retail Individual Investors - 46.8934 times
Employee Reservation - 1.4560 times

Transformers and Rectifiers
QIBs - 110.5296times
Non Institutional Investors - 121.6963times
Retail Individual Investors - 58.6145times
Employee Reservation - 1.0011 times

Precision Pipes IPO

2007-12-12T18:31:00.000+05:30

Precision Pipes IPO opens on Dec 17, price band Rs 140-150
Precision Pipes and Profiles Company, a Delhi-based OEM supplier to the automobile industry, is entering the capital market with an initial public offering (IPO) of 50-lakh shares.

The price band of the issue has been fixed between Rs 140 and Rs 150 per equity share of face value of Rs 10 each. The bids will open on December 17 and close on December 20, Mr Ajay Kumar Jain, Managing Director, Precision Pipes and Profiles Company Ltd, said while addressing a press conference here on Tuesday.

Expansion initiatives

The company is hoping to raise around Rs 75 crore from the issue to fund its expansion initiatives. Mr Jain said that of the total equity float, up to 50 per cent of the net issue will be allocated to qualified institutional buyers (QIBs) on a proportionate basis, out of which 5 per cent will be available only to mutual funds. “Fifteen per cent of the net issue shall be available for the allocation on a proportionate basis to non institutional bidders and around 35 per cent will be available to retail individual bidders,” he added.

According to Mr Abhishek Jain, Executive Director of the company, post the issue, the promoter and promoter group holding would be reduced to between 62.69 and 64.29 per cent.

New plant

“The company is currently in the process of increasing its production capabilities from 4.75 million kg to 9.14 million kg by 2008-09.

Apart from this, we are also setting up a new plant for manufacturing of auto components and also a new plant for electrical outlet system products for Power and Data Corporation Pty Ltd, Australia,” he said.

The total investment is expected to be around Rs 106 crore, out of which Rs 75 crore will be from the IPO, Rs 25 crore through term loans and the remaining Rs 6 crore from internal accruals.

The company for the financial year ended March 31, 2007, had a turnover of Rs 109.28 crore compared with Rs 80.35 crore posted during the same period of the previous year.

The net profit for the last financial year was at Rs 13.87 crore compared with Rs 7.99 crore recorded for the financial year ended March 31, 2006, reports The Hindu Business Line.

Subscribe to Brigade at lower band : Edelweiss Cap

2007-12-12T18:22:00.001+05:30

Edelweiss Capital has come out with report on Brigade Enterprises IPO. The firm has recommended subscribing to the issue at the lower band of Rs 315.

Brigade Enterprises, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, has opened for subscription with an initial public offering of 16,624,720 equity shares of Rs 10 each for cash at a price band of Rs 351-Rs 390 per equity share. The issue will close for subscription on December 13, 2007.

BGR Energy Systems IPO subscribed 92 times

2007-12-12T18:19:00.000+05:30

The initial public offer of BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, proposes, has received powerful response from investors. It got bids for 84 crore shares as against 91.36 lakh equity shares on offer.

The issue was subscribed 92.06 times, till 4 pm, according to data available on NSE website.

Qualified institutional investors have given strong support to the issue, their reserved portion subscribed 19 times followed by HNIs and retail with subscription of 3.4 times and 5.8 times respectively, till yesterday.

Transformers IPO subscribed 66 times

2007-12-12T18:04:00.000+05:30

The initial public offer of Transformers and Rectifiers (India), one of the major players in the Indian market manufacturing a wide range of transformers ranging from power generation, transmission, distribution transformers, industrial transformers and a wide range of speciality transformers, has closed for subscription. It was subscribed 65.63 times, till 4 pm, as per NSE website.

The issue got bids for 20 crore shares as against 29.95 lakh shares on offer.

Subscription Status till 3 pm

Qualified institutional investors's 74 times
HNIs - 28 times
Retail Investors - 17 times

Grey Market Premiums as of December 12 '07

2007-12-12T17:42:00.000+05:30

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak
eClerx Services	270 to 315	40 to 45	-
BGR Energy	425 to 480	340 to 350 (Buyer)	2100 to 2200
Transformers & Rectifiers	425 to 465	360 to 370 (Buyer)	1600 to 1700
Brigade Enterprise	351 to 390	50 to 60 (Seller)	1400 to 1500
Jyothi Lab.	690	230 to 240	-
Burnpur Cement Ltd.	12	6 to 7	-
Kolte Patil	145	80 to 85	-
Kaushalya Infra	60	11 to 12	-
Aries Agro	120 to 130	40 to 45	-
Manaksia Ltd.	140 to 160	50 to 55	-
Porwal Autocompotants	68 to 75	22 to 25	-
Precision Pipes & Profiles	140 to 150	40 to 50	-