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Saturday, January 08, 2011

Midvalley Entertainment IPO Analysis

Midvalley Entertainment, promoted by Datuk K. Ketheeswaran, Unigold Pacific Ltd., Kiara Enigma Sdn Bhd. and Global Motion Pictures & Ventures Pte. Ltd., is into film production, distribution and exhibition, actively engaged in the media and entertainment industry in south India. It is present in media and entertainment from concept to completion, i.e., from script to screen. It produces, distributes and exhibits movies both in Indian and foreign languages. It also holds the music, video and television rights of movies, television serials for sales to TV channels and other emerging media sources.

Market skids to three-week low on fears of monetary tightening from RBI

The key benchmark indices suffered a severe setback, sliding for the fourth day in a row, on rising fears of an interest rate hike by the central bank at a policy review scheduled later this month to cool inflation. The barometer index BSE Sensex and the 50-unit Nifty tumbled to their lowest level in three weeks. European and most Asian markets declined as caution prevailed ahead of the key US non-farm payrolls data later in the global day. The BSE 30-share Sensex was down 492.93 points or 2.44% to 19,691.81, off 518.81 points from the day's high and up 62.59 points from the day's low. The Sensex and the 50-unit S&P CNX Nifty fell below the psychological 20,000 and 6,000 levels, respectively.