The Sensex today recorded 654 points at close,its biggest ever rally in its history, surpassing the 615.62 points gain it had recorded on June 15, 2006. Thanks to the 50 basis points cut in US bank rates and the resultant sharp surge in stocks prices across the globe, had a sweet impact on the major Indian stock exchanges today.
The mood was so upbeat even before trading commenced this morning that the Sensex opened with a very big positive gap of around 271 points at 15,940.79, well past its previous best of 15,868.85 recorded on July 24, 2007. The barometer crossed the 16,000-mark in a flash and added over 300 points after that as buying continued unabated in blue chip stocks right till the end of the session.
While the Sensex, which recorded a new all-time high of 16,335.30, ended the day at 16,322.75 with a whopping gain of 653.63 points or 4.17%, the Nifty, which hit a high of 4739, settled at 4732.35 with a gain of 4.09% or 186.15 points.
Buying was so strong and widespread that all the sectoral indices ended with impressive gains today.
Realty index up by 5.77%
Oil & Gas index up by 5%
Bankex advanced by 4.84%.
Auto, Metal, PSU and Teck indices ended stronger by 3.4% - 3.85%.
According to the market news the goverment of india is likely to decide on monetary sugar sops in 8 to 10 days. Government is also set to approve direct ethanol manufacture from sugarcane so sugar mills will be able to sell Ethanol at Rs 21.50 per litre.
Based on the above news all the stocks in the Sugar sector have made tremendous gains today, all of them have hit upper circuits. It would be interesting to watch this sector for another two weeks as the sugar sector has not particpated in the market rally from the last few quarters and investors who have held their investments in this sector should gain well in the coming weeks.
Chennai based Consolidated Construction Consortium Ltd a turn-key construction services provider in India plans to raise about Rs 200 crore from the equity markets to finance its expansion.The company will issue 37 Lakh equity shares at the price of Rs 10 per share with a premium to be fixed later. Post IPO the issue will constitute 10.01% of the fully diluted paid up capital of the company.
At least 2.220,000 Equity Shares of face value of Rs. 10 will be issued to the Qualified Institutional Buyers (QIB) out of which 111,000 Equity Shares will be issued to to Mutual Funds.Non-Institutional Portion is to 370,000 Equity Shares and Retail Portion is 1,110,000 Equity Shares.
The company intends to purchase equipment to produce ready mix concrete, scaffolding material, piling machines, cranes for about a cost of Rs 90 Crore and repay loans to the extent of Rs 16 Crore with the IPO proceeds.
As of April 30, 2007 the company is executing 130 projects across various states in India and have received orders for six projects on which the company yet to commence construction. These projects involve the proposed construction of 4.35 million sq.ft. of industrial space, 17.58 million sq.ft. of commercial space, and 0.55 million sq.ft. of residential space. As of April 30, 2007, the company’s book order stood at Rs 1,812.53 crore.
CCCLÂ private sector clientele operate in diverse sectors such as IT / ITES, hospitals, hospitality, pharmaceuticals, education, hospitality, manufacturing, retail, malls and multiplexes. Their clients include Infosys Technologies Limited, Ascendas IT Park (Chennai) Limited, Khivraj Technology Park Private Limited, Manipal University, Airport Authority of India Limited, Hi-Tech Carbon (a unit of Aditya Birla Nuvo Limited) and the Infosys Foundation.
CCCL plans to list their shares on Bse and Nse and have received the conformation from both the stock exchanges. Book running lead managers to the issue are Enam Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited.Spark Capital Advisors (India) Private Limited is the Co-Book running Lead Manger to the issue. Karvy Computershare Private Limited is the registrar for the Consolidate Construction Consortium (CCCL) IPO.
For further updates on  Consolidated Construction Consortium Ltd (CCCL) IPO Subscription dates, Subscripiton details, allotment and listing dates do check this blog regularly.
For CCCL IPO draft prospectus  Click here.
For all Nse,Bse IPO’s in 2007 Click here.