Archive for March, 2010
Shree Ganesh Jewellery House IPO Subscription
The initial public offer of jewellery exporter Shree Ganesh Jewellery House closed with 1.96 times subscription on 23 March 2010. The issue received bids for 2.30 crore shares compared with 1.17 crore shares on offer.
See the Shree Ganesh Jewellery House IPO analysis here.
The qualified institutional buyers (QIBs) category was subscribed 1.38 times, the non institutional [...]
Technical Analysis – Raymond
Raymond (Rs 237.8): Since the multi-year low of Rs 68 marked in March 2009, the stock has been on an intermediate-term uptrend. However, significant resistance around Rs 250 arrested the stock in January 2010. Short-term investors can hold with target at Rs 250 and stop-loss at Rs 220. Medium-term and long-term investors can continue to [...]
Technical Analysis – Suzlon Energy
Suzlon Energy (Rs 73.9): Suzlon Energy has been trending down from its life-time high of Rs 460 recorded in early January 2008. Moreover, in June 2009 the stock resumed its longer-term downtrend encountering resistance in the band of Rs 140 and 150 and has been on an intermediate downtrend. The short-term trend is sideways in [...]
Coal India IPO in July 2010
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July. The government, which holds 100 per cent stake in CIL, will divest 10 per cent through an initial public offer (IPO) of 63.1 crore shares. The company will reserve 6.3 crore shares for its employees.
Buy Calls – Tata Investment Corp
Investors with a two to three year investment horizon can consider accumulating the shares of Tata Investment Corp (TIC), the Tata Group’s listed investment arm.
The stock is trading at a significant discount to the value of its investment book, which comprises mainly of Tata Group companies. TIC is a good defensive option with low volatility, [...]
Buy Calls – Orbit Corporation
The Mumbai-based Orbit Corporation has been quick to fast-track execution of projects that had slowed down and generate better revenue growth than the others.
An improved balance-sheet, presence in the lucrative redevelopment Mumbai market and willingness to quickly shed stake in large projects to keep the cash clock ticking are key positives for Orbit Corporation. These [...]
Persistent Systems IPO Allotment and Subscription Details
Persistent Systems IPO opened on 17th March 2010 and closed on 19th March and has been oversubscribed by 93 times. The retail portion was subscribed 22 times, institutional portion went for 144 times, while the non-institutional chunk was subscribed 107 times. Enam Securities Pvt Ltd and J.P. Morgan India Pvt Ltd are the managers to [...]
