Sensex Gains
The Sensex gained 64 points up from 5815.87 to close at 5880.35. The Nifty rose by 21 points to close at 1865.30 up from 1843.85 points.
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Counters
ONGC appreciated by 5.5 per cent to close at Rs 802.25. The public offer for ONGC was fully subscribed in the first 11 minutes.
SAIL recorded an increase of Rs 1.25 to close at Rs 41.90.
HLL appreciated by 0.19 per cent to close at Rs 158.35.
TVS Motors declined by Rs 4.9 to close at Rs 97.50.
Apollo Tyres gained by Rs 5.5 to close at Rs 251. 45.
Ranbaxy fell marginally to Rs 970.35.
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ONGC offer: Fully subscribed in 11 minutes
Mumbai: Riding on the back of market rumours that the legendary investor Mr Warren Buffet had put in large bids for the offer of 14.25 crore shares, the ONGC offer was oversubscribed 2.23 times by Friday evening. Mr Buffet offer is understood to be in the region of about $1 billion. The floor price of Rs 680 per share attracted the maximum number of bids, while the second-highest number was at the upper end of the band at Rs 750 per share.
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GAIL offer oversubscribed 6.3 times
Mumbai: The sale of GAIL shares was oversubscribed around 6.3 times till late evening. The issue received bids for 53.33 crore shares compared to 8.45 crore shares being offered. Maximum bids of 20.80 crore shares were received at Rs 195 followed by at Rs 190 for 22.36 crore shares and bids for 7.39 crore shares were received at Rs 185 that is at the floor price.
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Dredging Corpn: Cut-off price is Rs 400
New Delhi: The Government on Friday fixed a cut-off price of Rs 400 per share for the sale of its 20 per cent equity constituting 56 lakh shares in Dredging Corporation of India (DCI), garnering Rs 221 crore from the issue.

The cut-off price is at a 32 per cent discount to the Friday's closing price of the Dredging Corporation scrip at the Bombay Stock Exchange (BSE) where the shares closed at Rs 588.70 per share. The retail investors will get the shares at Rs 380 per share, a 5 per cent discount on the final offer price of Rs 400 per share.
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IL&FS and UTI schemes to integrate by April
Mumbai: The UTI Asset Management Company Ltd has said that the legal proceedings and final integration of the funds run by IL&FS Mutual Fund, now acquired by Unit Trust of India, would be completed by April. According to the company products that are common to both UTI and IL&FS Mutual Fund would be integrated and products that have distinctly different features would continue as separate funds.
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SEBI suspends Credit Suisse for a month
Mumbai: Credit Suisse First Boston (CSFB) has been found guilty of violating SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) regulations and has been suspended for one month by an order issued by Mr A.K. Batra, Whole-time member, Securities and Exchange Board of India (SEBI). Credit Suisse First Boston was accused of entering into synchronised deals with the members of Ketan Parekh Group/associates (KP) in the scrip of Ranbaxy, with a prior understanding and to influence the trading volumes, according to the report.
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