(Rs. 1 Lac
1.50 to 2 (Seller)
(Higher Price Band)
415 to 420
1700 to 1750
Olympic Cards Ltd.
30 to 32
3 to 3.50
Friday, March 09, 2012
Shares of Multi Commodity Exchange of India (MCX), India's biggest commodity exchange by turnover, debuts on the secondary equity market today, 9 March 2012. The company had priced the initial public offer (IPO) at Rs 1,032, the top end of the Rs 860-1,032 per share price band.
MCX will be listed on 'B" group of BSE under scrip code 534091. The scrip will not be listed on the NSE. The MCX IPO was subscribed a massive 54.13 times. The IPO got bids for 29.77 crore shares. The issue had opened for bidding on 22 February 2012 and closed on 24 February 2012.
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 6.50 points at the opening bell. Asian stocks edged higher.
The domestic stock markets remained shut on Thursday, 8 March 2012, on account of Holi.
Shares of MCX, India's largest commodity exchange, will debut on the bourses today, 9 March 2012 after having got an overwhelming response to its initial public offering. The offering was priced at Rs 1032 a share.
Key benchmark indices dropped for the third straight day to reach their lowest level in more than five weeks on Wednesday, 7 March 2012. The BSE Sensex lost 27.77 points or 0.16% to settle at 17145.52, its lowest closing level since 30 January 2012.
Dr Reddys Lab and Mankind Pharma plan to add 1,000 personnel each to their sales and marketing teams in the coming fiscal at a time when most other drug makers are either consolidating or going slow on hiring. (ET)
Tata Chemicals signed loan facilities of US$375mn and the proceeds will be used to help refinance an US$825mn facility signed in 2008. (ET)
Mahindra Satyam acquired Delhi-based vCustomers BPO for US$27mn. The acquisition marks the entry of Mahindra Satyams’ BPO operations into other verticals such as retail and consumer technology in addition to enhancing its technical support business. (ET)
After suffering heavy losses in the previous trading session, the Indian stocks ended almost unchanged at the end of a volatile session. Trading was fairly choppy throughout the day with the main stock indices swinging back and forth in a trading range.
The undertone remains fragile and uncertain in the wake of the Congress party's poor performance in the recently concluded assembly elections. Most market players are reluctant to take risks at the moment given that the Indian markets are closed for Holi on Thursday, and the outlook for world markets has deteriorated of late.
"Optimism is essential to achievement and it is also the foundation of courage and true progress." - Nicholas Murray Butler.
The trading screens have been seeing more red lights flickering after witnessing an almost uninterrupted seven-week ‘risk on’ rally. So where do we go from here? It is unlikely to be a one-way street in the immediate future given the event risk involved ahead of the RBI policy move and the Union Budget. The outcome of assembly polls has not been favourable and expectations on reforms getting back on track have diminished.
Some may yet see scope for a positive surprise from the RBI chief and the FM. Whether they oblige or not is anybody’s guess. It will be wise not to take any chances before the two big events next week.
The Indian markets may open the session on a flat to positive note. MCX will become India's first exchange to be listed today
Headlines for the day
IATA suspends KFA from clearing house; oil cos stop fuel supply
LIC wants to exit MTNL via pvt placement
10-yr-old tax evasion cases may reopen
L&T board meets today to discuss Hexaware acquisition
New telecom policy on Cabinet table in March
India's budget deficit to remain more vulnerable: Moody's
Events for the day
MCX will list today