June 2nd, 2009 — Announcements, Nse India
The absence of a spectrum roadmap for code division multiple access (CDMA) operators and the limited allocation of airwaves has compelled Tata Teleservices (TTSL), to offer services on the GSM platform as well, reports Business Standard.
The company provides telephony services including mobile, fixed wireless phones (FWP), public telephone booths and wireline services.
Broadband data network and application services include leased lines, DSL, Wi-Fi, ethernet, managed gateway services and web conferencing services.
The company holds two unified access (basic + cellular) services licences (UASL), one for Mumbai Metro and the other for the rest of Maharashtra and Goa.
June 2nd, 2009 — IPO
Rishabhdev Technocable today announced that its follow-on public offer (FPO) comprising of 9 million equity shares of Rs 10 each through 100% book building process would commence on Jun, 4 2009.
The price band of Rishabhdev Technocable FPO has been fixed at Rs 29 to Rs 33 for every share of Rs 10 each and the issue would close on Jun. 9, 2009.
The Issue would constitute 46.40% of the fully diluted post issue paid-up capital of the Company.
IDBI Capital Market Services and Prabhudas Lilladhar Capital Markets are helping them in fund raising process.
June 2nd, 2009 — IPO
Oil India IPO is likely to hit the capital markets in September 2009 according to a recent report in Economic Times.
Chairman N M Borah said that the company plans to sell 10% of its equity via its IPO. Oil India (OIL) is a premier national oil company, engaged in the business of exploration, production and transportation of crude oil and natural gas.
With market in better shape all the companies who have postponed their IPO’s last year are slowly returning back to the capital markets. Oil India IPO will be an interesting one to watch out.
June 1st, 2009 — Bullion
Silver prices on Monday rose by Rs 300 in the bullion market on frantic buying by stockists and industrial units, on the others side, gold remained steady on restricted buying, reports Economic Times.
Silver ready increased by Rs 300 to Rs 23,500 per kg and weekly-based delivery by Rs 80 to Rs 24,250 per kg. However, silver coins held steady at Rs 29,500 for buying and Rs 29,600 for selling of 100 pieces.
Reports of a better trend in gold in global markets failed to impact the trading sentiment in the domestic market. Gold in London commenced the day at three-month high of 987 dollar an ounce. The trading sentiment in gold remained sluggish as investors and other major market players shifted funds to the surging equity markets for quick gains.
Meanwhile, standard gold and ornaments continued to be asked around previous levels of Rs 15,100 and Rs 14,950 per 10 gram, respectively. Sovereign also traded at last levels of Rs 12,450 per piece of eight gram.
June 1st, 2009 — Bullion
Gold prices in international market are expected to cross the USD 1000 mark this week according to Sharekhan.
Gold moved lower in the initial part of the previous week, but the bulls picked up activity mid-week, taking prices higher above our reversal point of USD 967 and closed the week at USD 979. With this, Gold has made four consecutive weekly gains and the bulls seem to be in complete control of the market. It has moved higher above the 78.6% retracement level of the fall from USD 1005 -USD 864, as per the latest report published by Sharekhan Commodities.
After two consecutive monthly losses, the yellow metal bucked the trend by gaining nearly 10% in the previous month. The weekly KST (momentum indicator) has triggered a buy crossover of the moving average and is trading above the zero line. The daily KST too is trading with a positive bias.
Going forward, Gold is expected to face stiff resistance at USD 998 (falling trend line from USD 1030) and if it manages to cross above, it will test USD 1030 later. Analysts at Sharekhan Commodities are modifying bias to cautiously bullish at these levels with a target of USD 1030 with a reversal below USD 933 (multiple swing supports).
June 1st, 2009 — Forex
The RBI`s reference rate for rupee appreciated 0.63% against US dollar to 46.99 on June 1, as compared with previous working day of 47.29 (May 29).
Meanwhile, the rupee depreciated 0.45% against Euro to 66.48 on June 1, as compared to 66.18 on May 29.
As illustrated in the table below, rupee depreciated 0.40% versus the Great Britain Pound at 76.16 as against 75.86 on the previous working day, while it depreciated 0.92% versus 100 Japanese Yen at 49.34, as against 48.89 on the previous working day.
May 28th, 2009 — IPO, IPO Current Issue
NHPC IPO can hit the markets in the month of July-August according to the sources. NHPC has filed its DHRP in the month of Dec 2008, and had to postpone the issue because of the bad financial markets. The current markets stabilising and showing growth pattern has encourage lot of companies who have prolonged their IPO’s to comeback.
NHPC is such company which will hit the markets with a 2000-3000 crore IPO, which could attract lot of interest among the small and middle investors group. Mutual funds who are sitting on huge piles of cash would definitely invest in such quality issues.
NHPC IPO could hit the markets in the month of July or August 2009.