Indian Stock Market

Punj Lloyd Ltd has informed  that Sembawang Engineers and Constructors Pte Ltd, a wholly owned subsidiary of the Company has won a major contract worth Rs 1272 crore for architectural, civil and structural work at the proposed Bayfront MRT station in Marina Bay in Singapore. The contract has been awarded by Land Transport Authority of Singapore.

In this regard the Company has issued the following Press Release:

“Punj Lloyd’s wholly owned subsidiary, Sembawang Engineers and Constructors (Sembawang E&C), one of the largest engineering and construction Companies in Southeast Asia, has won a major contract worth SGD 463 million for architectural, civil and structural work at the proposed Bayfront MRT station in Marina Bay in Singapore.

The contract was awarded by the Land Transport Authority of Singapore. It is one of the first packages of construction works to be awarded at the planned 4.3 km downtown MRT Line in Marina Bay.

The Downtown Line 1 will have six stations. It is a critical transportation hub designed to serve workers, residents and visitors in the Marina Bay area, which will feature new icons such as the Marina Bay Sands Integrated Resort, the Marina Bay Financial Centre and Gardens by the Bay. This line will connect the existing East West line Bugle station to the existing North East line Chinatown station.

Under the terms of contract, Sembawang E&C will be constructing the Bayfront station which is key to the Downtown Line as it serves the mega Marina Bay Sands Integrated Resort Sembawang E&C will be responsible for the underground construction of Bayfront station and two pairs of tunnels for Downtown Line Stage 1. This includes architectural, civil and structural works.

The Downtown Line is in the heart of Marina Bay and the Bayfront station is a key factor contributing to the success of the development in the Marina Bay area. Bayfront will be one of the first stations to open in the Downtown Line Being a fast-paced project, the schedule will require 24-hour work days for the station to be completed in time for the opening of Marina Sands IR. With extensive experience in infrastructure projects and having built a third of all MRT and LRT stations in Singapore, Sembawang E & C is confident of completing the project on schedule.

With this, the order backlog for the Punj Lloyd group on consolidated basis has gone up to Rs 17894 crore. This is the total value of unexecuted orders as of September 30, 2007 and new orders received till date.”

Power Grid – New Projects

Power Grid Corporation of India Ltd has informed  that the Board of Directors of the Company has granted investment approval to the following projects:

1. “Eastern Region System Strengthening Scheme – II at an estimated cost of Rs 227.52 Crore. The transmission system is scheduled to be commissioned within 30 months from the date of investment approval.

2. “Western Region System Strengthening Scheme – V at an estimated cost of Rs 477.69 Crore. The transmission system is scheduled to be commissioned within 33 months from the date of investment approval.

3. “Northern Region System Strengthening Scheme – X at an estimated cost of Rs 408.36 Crore. The transmission system is scheduled to be commissioned within 36 months from the date of investment approval.

4. “Northern Region System Strengthening Scheme – XI at an estimated cost of Rs 417.76 Crore. The transmission system is scheduled to be commissioned within 36 months from the date of investment approval.”

5. “Establishment of 1200 kV UHV Test Station at Bina-400 kV (PG) S/S” at an estimated cost of Rs 98.50 crore. The project is scheduled to be commissioned in 24 months from the date of investment approval.”

eClerx Services IPO : eClerx Services IPO opens on Dec 4

eClerx Services, which provides data analytics and customised process solutions to global enterprise clients from its offshore delivery centres in India, is entering the capital market with its initial public offering (IPO) of equity shares of Rs 10 each for cash, at a price to be decided through a 100% book building process and aggregating to Rs 1,010 million.

The issue will open on December 4, 2007, and will close on December 7, 2007. The price band has been fixed between Rs 270 and Rs 315 per Equity Share.

The issue comprises a fresh issue of equity shares and an offer for sale by Mr P D Mundhra, Mr. Anjan Malik and Burwood Ventures Limited (being the existing shareholders of the company) of 890,000 equity shares. The equity shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

At least 60% of the Net Issue will be allocated to qualified institutional buyers (QIBs) on a proportionate basis out of which 5% will be available for allocation on a proportionate basis to Mutual Funds only. Further, up to 10% of the Net Issue will be allocated to Non-Institutional Bidders and up to 30% of the Net Issue will be allocated to Retail Individual Bidders on a proportionate basis, subject to valid Bids being received from them at or above the Issue Price. In accordance with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, a minimum of two million securities are being offered to the public and the size of the Issue shall aggregate to at least Rs 1,000 million.

The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits.

The Company’s portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.

The company’s unconsolidated revenues grew to Rs 862.3 million in Fiscal 2007 from Rs 477.5 million in fiscal 2006 and Rs 266.4 million in Fiscal 2005, growing at a compound annual growth rate of 79.9% over 2005-2007. The company’s unconsolidated profit after tax grew to Rs 405.2 million in fiscal 2007 from Rs 240.4 million in fiscal 2006 and Rs 112.2 million in Fiscal 2005. For the six months ended September 30, 2007, its unconsolidated revenues were Rs 514.4 million while the profit after tax was Rs 164.7 million. For the six months ended September 30, 2007, the consolidated revenues were Rs 526.6 million and the net profit was Rs 169. 5 million.

The book running lead managers to the issue are JM Financial Consultants Private Limited and Edelweiss Capital Limited.

BGR Energy IPO : BGR Energy IPO opens on Dec 5

BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, proposes to enter the capital markets on December 5, 2007 with a public issue of 9,136,000 equity shares of Rs 10 each through 100% book building process.

The issue will consist of a fresh issue of 4,320.000 equity shares and an offer for sale of 4,816,000 equity shares by Mr B G Raghupathy and Ms Sasikala Raghupathy (the selling shareholders). The issue closes on December 12, 2007 and the price band has been fixed at Rs 425 to Rs 480 per equity share.

The net issue to the public will be 8,636,000 equity shares after allowing for reservation of up to 500,000 equity shares for eligible employees. The issue would constitute 12.69% and the net issue will constitute 11.99% of the fully diluted post issue paid-up capital of the company. SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.

The company proposes to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes. The Company proposes to list the equities on the NSE and the BSE.

BGR Energy Systems has entered into agreements dated November 6, 2007 with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares. The company proposes to complete the above transaction after the closing of the issue period and before the allotment of equity shares in the issue to successful bidders. Upon the determination of the issue price, the objects of the issue will be reduced to the extent of moneys raised from the of 2,880,000 equity shares placement.

The company carries on business in two segments, the supply of systems and equipment and turnkey engineering project contracting.

Jyothy Labs IPO Allotment : Jyothy Labs IPO Allotment Status

Jyothy Labs IPO was over Subscribed by 67 times .Retail Quota got over subscribed by 16 times.So if had applied for full quota you can get allotment.

Jyothy Labs IPO Allotment

Investors who applied for minimum quantity will find allotment tough in Jyothy Labs IPO. The Jyothy Labs IPO Allotment Status will be updated here as soon as it is available.

Check JYOTHY LABS IPO Allotment status and refund details here…

JYOTHY LABS Ipo allotment status

For knowing allotment details , refund details and for any problems in Jyothy Labs IPO Conctact registrar.

Moser Baer India Ltd has informed that Moser Baer Photo Voltaic (MBPV), a wholly owned subsidiary of the Company on November 30, 2007 announced that it has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for setting up of a large Solar Power Project in the State with an estimated generation capacity of 1 – 5 MW. The project will be the largest grid-connected solar farm in India and entail an investment of around USD 25 million (Rs 100 crores) at USD 4.5 million per MW. The MoU was signed on November 30, 2007 at the ‘Resurgent Rajasthan’ summit at Jaipur between MBPV and Rajasthan Renewable Energy Corporation (RREC).

The SAARC region has large demand supply imbalances in energy generation capacities, with an increasing need to explore alternate and efficient energy sources. This offers a significant potential to Solar Photo Voltaic as an efficient energy option in the region. “MBPV aims to redefine the paradigms of solar power generation through its world class manufacturing and multi technology capabilities and demonstrate a commercially viable, grid-connected PV energy system in India through this project,” said Ravi Khanna, CEO of MBPV. “This project is a pioneering initiative in that direction and we believe that the SAARC region provides huge opportunity for such large sized projects.” he added.

Moser Baer is also evaluating various options for setting up large sized solar farms across the SAARC region with strategic tie ups with some of the leading global Solar PV Companies and clean energy funds.

Moser Baer Photo Voltaic plans to emerge as a leading technology driven PV equipment manufacturer in the world by implementing a capacity of 500 MW by FY10 through a mix of technologies in the crystalline silicon, concentrator and thin film domain.

The Company’s photovoltalc equipment manufacturing capacities for crystalline silicon, concentrator and thin film technologies are coming up in an SEZ in Greater Noida.

Power sector in Rajasthan

Rajasthan is on course to become self sufficient in power by 2008. Besides setting up new power projects in the state sector, the government is also promoting private investment in power generation. The state already has an installed capacity of 5,500 MW of power and will add 4500 MW by 2011-12 through state sector projects of 1500 MW, private sector projects of 1500 MW and central sector projects of 1500 MW. Over 520 MW of non-conventional power is already being generated by private units in the State

National Stock Exchange has elbowed out its South African counterpart to become the world’s largest platform for stock futures trade, with a trading volume more than double of its nearest competitor.

NSE, bigger than its Indian rival Bombay Stock Exchange in trading volume, is already the world’s largest bourse in terms of value of individual stock futures trade.

According to the latest data compiled by World Federation of Exchanges, as many as 2.4 crore stock futures contract were traded at NSE in October as against 83.67 lakh at Johannesburg Stock Exchange (JSE).

JSE was the world’s biggest stock futures trading platform till September, when it traded 5.74 crore stock futures contracts — nearly four times NSE’s 1.77 crore.

Stock futures contract is an instrument that allows investors to reap benefits of a stock’s performance without actually owning it.

In terms of total turnover of all stock futures contract, NSE recorded the highest amount of about 285 billion dollars during the month, which was nearly 20 times its nearest rival Euronext Liffe’s 14.6 billion dollars.

BSE, the world’s biggest stock exchange in terms of number of companies listed, is among the lowest ranked bourses in terms of number of stock futures contracts and their turnover.

The BSE witnessed trading of just 587 single stock futures contracts during the month, with a total turnover of just about six million dollars.

Source: ET

The curious story of the Reliance Petroleum stock boils down to a single, unanswered question: Who are the players who began to short-sell the scrip in the derivatives segment just a few days before the company’s promoters (Reliance Industries) started offloading a slice of their holding in the spot market?

These short-sellers in the futures and options market were either very brave — having the heart to take a big short call when spot prices were zooming — or they knew something that the rest of the market was clueless about.

These smart players went on a selling spree towards the end of October, selling shares to double the open interest position from 8 crore shares to 16 crores shares by November 6. Open interest of 16 crore shares simply means that if there was somebody who was buying contracts worth 16 crores shares, there was also somebody else who was selling as many.

Some of the reputed names in the market are believed to have suffered heavy losses by going short on the stock in the last couple of months when the stock was on a tear. So who are these short sellers who burst upon the scene suddenly?

For a stock whose average open interest position has been between 5 crore and 10 crore shares ever since it was listed in April ’06, it must have required real conviction (or `knowledge’) for someone to carry out an aggressive leveraged selling within the span of a week.

Open interest (triggered by such short-selling) peaked on the same day (i.e., November 6) when the promoters began selling the shares in the cash market. Between November 6 and November 23 — the period during which the promoters were selling the share — prices in the spot market plunged from Rs 267 to Rs 204, and those in the F&O segment fell from Rs 260 to Rs 204 (something that helped the short sellers make a pile).

On November 7, NSE banned the stock futures of RPL, making it the first stock among the 50 constituents of the Nifty Index to be put under F&O ban. In the seven-year history of derivatives in India, players could never muster the courage to sell so many shares of a blue-chip company that would cause the exchange to ban derivatives trading of the stock. Still, they chose to take on RPL.

But on Thursday, these operators chose to cover their positions with the RPL counter increasingly coming under the media glare. It is equally possible that some of the smart traders had sensed
their mood and also gone long on the stock.

Source: ET

Kaushalya Infrastructure ( KIDCO ) IPO : Kaushalya Infrastructure ( KIDCO ) IPO Allotment Status

Kaushalya Infrastructure IPO Allotment

Kaushalya Infrastructure IPO got Over Subscribed by 8 times .

Investors who have applied can easily get allotment in this ipo.But listing Price wont be so great.

KIDCO Allotment status will be out next week

Check KIDCO Ipo Allotment status here..

Kolte Patil Developers IPO : Kolte Patil Developers IPO Allotment Status

Kolte Patil IPO received huge over subscription of 48 times with huge over subscription in Retail Quota too.

Kolte Patil Developers IPO Allotment Status will be out soon.

Kolte Patil IPO Allotment status can be seen once its ready

Check Kolte Patil Allotment Status here..

Renaissance Jewellery IPO : Renaissance Jewellery IPO Allotment Status

Renaissance Jewellery IPO got over Subscribed by 25 times.Retail Subscription is 13 times.

So chances are you will get allotment this time !!!

Check your renaissance ipo allotment status here..

Renaissance Jewellery IPO Allotment Status

You will get Renaissance IPO Allotment updated once the registrar completes the allotment process.

Edelweiss IPO Allotment : Edelweiss Capital IPO Allotment Status

Edelweiss Capital IPO has been Over Subscribed more than 110 Times and Retail Subscription is 18 times.

So there are chances of allotment if you had applied in full. Allotment status of edelweis ipo will be out in another 10 days .

Edelweiss IPO AllotmentCheck here for allotment details and Refund Order for Edelweiss IPO.

Edelweiss IPO Allotment : Edelweiss Capital IPO Allotment Status

JYOTHY LABS IPO Analysis : Subscribe to Jyothy Labs IPO

The NPM has increased from 8.4% in FY05 to 14.2% in FY07.

The ratio of operating expense to gross sales has decreased from 0.89 in FY04 to 0.71 in FY07.

Jothy Labs  has been  valued at 20 times the Issue Price compared to 30 times the peers are trading.

We recommend Subscribing to Jyothy Labs IPO not only for listing gains but also for Long Term.

This is a Must Invest Issue.

Power Grid – Reliance Energy JV

Power Grid Corporation of India Ltd has informed that the Company has entered into a Joint Venture on November 23, 2007 with Reliance Energy Ltd. The Shareholders’ Agreement and other Agreements to this effect were signed between the Company and Reliance Energy Ltd / Joint Venture Company on November 23, 2007 at Delhi. The Joint Venture Company has in its scope execution of about 300 kms. Transmission Lines from Parbati to Koldam and Koldam to Ludhiana. The Company will have a 26% equity holding in the Joint Venture Company and Reliance Energy Ltd will have 74% equity holding.

The above lines are part of elements of the Transmission system associated with Generation Projects viz. Parbati-II HEP and Koldam HEP. NHPC is establishing 800MW Parbati-II HER and NTPC is establishing 800MW Koldam HEP in the state of Himachal Pradesh

Rolta India Ltd has informed that January 25, 2008 has been fixed as the Record Date for the purpose for issue of Bonus Shares of the Company.