Manveen Arneja
Md.Arshad khan
Mohita Agarwal
Md.Arshad khan
Mohita Agarwal
(Section - G)
LIFE INSURERS MAY INVEST RS 4K CRORE IN COAL INDIA IPO.
Life Insurance Companies are aiming to invest Rs 4000cr in Coal India ltd. Initial Public Offering(IPO)-India's largest ever IPO which will open today.These Insurance Companies look for a huge interest in this issue from a long term investment perspective.Of that estimated amount,it is believed that state owned LIC of India alone will pick up shares worth around Rs 3k Crore.The remaining 1k crore shares will be taken up by the private Insurance companies.
The Coal India IPO begins on 18th of October with an offering of 630 million shares with a face value of 10Rs each which amounts to Rs15,400 cr.The issue closes on 21st october.
UPSTREAM OIL FIRMS GAIN FROM RETAIL PRICE PRICES.
The subsidy burden on Oil & Natural Gas corporation(ONGC);Oil India limited(OIL) & GAIL Ltd. has been decreased by 45% in a single quarter which will enhance the financial performance of these Oil Companies.The decline in the subsidy burden of these companies will reflect positively on their bottom line.All these companies are expected to declare their quarterly results towards the end of october.Both ONGC & OIL had reported lower profits in the first quarter,due to higher subsidy burden.For ONGC the net profit of corresponding quarter for the previous was higher compared to the current year quarter.Thus increase in fuel price will act as an advantage for the upstream oil firms and will show its effect on the net profits in the second quarter.
15 MINUTES CALL AUCTION WINDOW FROM TODAY
Call auction sessions for Sensex & Nifty shares will last for 15 minutes from 9 am to 9:15am.According to Sebi circular issued the first eight minutes i.e. from 9am to 9:08am will be for order entry,modification & cancellation if any.The next four minutes i.e. 9:09am to 9:12am will include order matching & trade confirmation.The remaning three minutes will be to facilitate the transition from call auction to normal open session.
ONGC TO INVEST Rs8800 IN MUMBAI HIGH REDEVELOPMENT
ONGC will invest Rs8800 crore for redevelopment of the southern part of its Mumbai fields.They are planning to use a cost-effective technology to maintain output from the prime western offshore fields.The project will cost Rs8813.41 crore.In its production profile the field hit a peak of 400000 barrels per day before falling to current level of 210000,causing concerns.ONGC has initiated schemes and these schemes envisaged incremental gain of 18.31 million tonnes of oil and 2.70 billion cubic metres of gas through drilling of 75 new wells and intervention in existing wells.The work includes enhancement of Oil and Gas processing of capacity through installation of one process platform bridge connected to the existing ICP platform and installation of four new well head platform.
INDIA MOVES AT FULL THROTTLE.
· In recent weeks there have been concerns over the high level of foreign institutional inflows and their impact on the rupee.
· Foreign investment sensex incremented from 9,901.99 points in april 1,2009 to 20,069.12 points in September 30,2010.
· Overall increase in GDP growth from 6% in 2009-2010 to 8.8% in 2010-11.
NO DEFENCE AGREEMENT DURING OBAMA VISITS.
Next month i.e. November U.S. President Barack Obama will be visiting India and the officials who are looking after it are said to rule out the defence safeguard agreement that Washington has pressed for.A.K Antony during his visit to washington last month clearly stated that India would not sign the agreement which Washington calls the “foundation” for transferring high-tech communication equipments to India.Actually,this is a combined decision of Indian Military which A.K Antony has conveyed.According to Indian Airforce they don’t see any benefits out of it.
INFLATION AND APPRECIATION
There’s both good and bad news from the price front.The good news is that inflation seems to be stabilizing,with the september number only marginally higher than 8.5% in august.More importantly,manufacturing product inflation often described as crore inflation by economists,has continued its downward trend.From 6.4% percent in April,factory price inflation is down to 4.6% in september.A favourable base effect kicks in from november if food prices soften atad and manufacturing inflation sticks to the current path,inflation could end up around 5.5% by March 2011.
DOLLAR DECLINES FOR FIFTH WEEK.
· The dollar fell for the fifth week against the Euro.
· The US currency dropped this week to a 15 year low against the Yen and fell to parity with the Australian and Canadian dollars before next week’s fed report on regional economies.
8 OF TOP 10 FIRMS LOST Rs. 29K CR IN M-CAP LAST WEEK.
· The combined market capitalization(m-cap) of 8 of the coutry’s top 10 companies declined by Rs. 29,221.44 crore in the past week.
· State runned NTPC beared the highest loss with a wealth erosion of Rs. 8,946.33 crore.
· Reliance industries ruled the chart though t lost Rs. 2,405 crore from its m-cap.
INDIAN ADR’s ADD $1.76 BILLION IN A WEEK
Led by It major wipro ,Indian Stocks trading on American bourses added $1.76 billion to their market valuation last week.
Indian entities listed on the New York Stock Exchange and Nasdaq added dollar 1.76 billion to the market capitalization.
Tata motors & Pharma major Dr. Reddy laboratories surged by dollar 211 million & 174 million respectively.
Life Insurance Companies are aiming to invest Rs 4000cr in Coal India ltd. Initial Public Offering(IPO)-India's largest ever IPO which will open today.These Insurance Companies look for a huge interest in this issue from a long term investment perspective.Of that estimated amount,it is believed that state owned LIC of India alone will pick up shares worth around Rs 3k Crore.The remaining 1k crore shares will be taken up by the private Insurance companies.
The Coal India IPO begins on 18th of October with an offering of 630 million shares with a face value of 10Rs each which amounts to Rs15,400 cr.The issue closes on 21st october.
UPSTREAM OIL FIRMS GAIN FROM RETAIL PRICE PRICES.
The subsidy burden on Oil & Natural Gas corporation(ONGC);Oil India limited(OIL) & GAIL Ltd. has been decreased by 45% in a single quarter which will enhance the financial performance of these Oil Companies.The decline in the subsidy burden of these companies will reflect positively on their bottom line.All these companies are expected to declare their quarterly results towards the end of october.Both ONGC & OIL had reported lower profits in the first quarter,due to higher subsidy burden.For ONGC the net profit of corresponding quarter for the previous was higher compared to the current year quarter.Thus increase in fuel price will act as an advantage for the upstream oil firms and will show its effect on the net profits in the second quarter.
15 MINUTES CALL AUCTION WINDOW FROM TODAY
Call auction sessions for Sensex & Nifty shares will last for 15 minutes from 9 am to 9:15am.According to Sebi circular issued the first eight minutes i.e. from 9am to 9:08am will be for order entry,modification & cancellation if any.The next four minutes i.e. 9:09am to 9:12am will include order matching & trade confirmation.The remaning three minutes will be to facilitate the transition from call auction to normal open session.
ONGC TO INVEST Rs8800 IN MUMBAI HIGH REDEVELOPMENT
ONGC will invest Rs8800 crore for redevelopment of the southern part of its Mumbai fields.They are planning to use a cost-effective technology to maintain output from the prime western offshore fields.The project will cost Rs8813.41 crore.In its production profile the field hit a peak of 400000 barrels per day before falling to current level of 210000,causing concerns.ONGC has initiated schemes and these schemes envisaged incremental gain of 18.31 million tonnes of oil and 2.70 billion cubic metres of gas through drilling of 75 new wells and intervention in existing wells.The work includes enhancement of Oil and Gas processing of capacity through installation of one process platform bridge connected to the existing ICP platform and installation of four new well head platform.
INDIA MOVES AT FULL THROTTLE.
· In recent weeks there have been concerns over the high level of foreign institutional inflows and their impact on the rupee.
· Foreign investment sensex incremented from 9,901.99 points in april 1,2009 to 20,069.12 points in September 30,2010.
· Overall increase in GDP growth from 6% in 2009-2010 to 8.8% in 2010-11.
NO DEFENCE AGREEMENT DURING OBAMA VISITS.
Next month i.e. November U.S. President Barack Obama will be visiting India and the officials who are looking after it are said to rule out the defence safeguard agreement that Washington has pressed for.A.K Antony during his visit to washington last month clearly stated that India would not sign the agreement which Washington calls the “foundation” for transferring high-tech communication equipments to India.Actually,this is a combined decision of Indian Military which A.K Antony has conveyed.According to Indian Airforce they don’t see any benefits out of it.
INFLATION AND APPRECIATION
There’s both good and bad news from the price front.The good news is that inflation seems to be stabilizing,with the september number only marginally higher than 8.5% in august.More importantly,manufacturing product inflation often described as crore inflation by economists,has continued its downward trend.From 6.4% percent in April,factory price inflation is down to 4.6% in september.A favourable base effect kicks in from november if food prices soften atad and manufacturing inflation sticks to the current path,inflation could end up around 5.5% by March 2011.
DOLLAR DECLINES FOR FIFTH WEEK.
· The dollar fell for the fifth week against the Euro.
· The US currency dropped this week to a 15 year low against the Yen and fell to parity with the Australian and Canadian dollars before next week’s fed report on regional economies.
8 OF TOP 10 FIRMS LOST Rs. 29K CR IN M-CAP LAST WEEK.
· The combined market capitalization(m-cap) of 8 of the coutry’s top 10 companies declined by Rs. 29,221.44 crore in the past week.
· State runned NTPC beared the highest loss with a wealth erosion of Rs. 8,946.33 crore.
· Reliance industries ruled the chart though t lost Rs. 2,405 crore from its m-cap.
INDIAN ADR’s ADD $1.76 BILLION IN A WEEK
Led by It major wipro ,Indian Stocks trading on American bourses added $1.76 billion to their market valuation last week.
Indian entities listed on the New York Stock Exchange and Nasdaq added dollar 1.76 billion to the market capitalization.
Tata motors & Pharma major Dr. Reddy laboratories surged by dollar 211 million & 174 million respectively.
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