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Markets:
NTPC boost for markets
Mumbai: The 30-stock index BSE Sensex rose 59.91
points (1.05 per cent) before closing at 5733.66 points.
The S&P CNX Nifty also rose by 20.8 points (1.16 per
cent) to 1815.7 points.
Market Gainers
Reliance Industries, Infosys Technologies, Bharti Tele-Ventures,
Tata Steel, Tata Power, Jindal Strips, Tasc Pharma, Kalyani
Steel, Allahabad Bank, Ultra Tech Cemco, Indiabulls, Hindustan
Construction, Era Construction, Nagarjuna Construction,
Madhucon Projects, IVRCL Infrastructures, SAIL, Tata Steel,
Ispat Industries, Jindal Stainless, GV Films, Ashok Leyland,
Alka India, Tata Teleservices, Petronet LNG
Market Losers
ICICI Bank, ITC, Balrampur Chini Mills, Dhampur Sugar,
Bajaj Hindustan, Amtek Auto, TTK Healthcare, Bhushan Steel,
Lyka Labs, Nicholas Piramal
Market
Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
| ACC |
275.85 |
0.00 |
| Bajaj
Auto |
1,027.75 |
+8.70 |
| Bharti
Televentures |
154.65 |
+5.85 |
| BHEL |
616.80 |
0.00 |
| Cipla |
290.40 |
+2.35 |
| Dr.
Reddys Laboratories |
756.20 |
+10.55 |
| Grasim
Industries |
1,149.70 |
+5.45 |
| Gujarat
Ambuja |
360.80 |
0.00 |
| HDFC |
669.80 |
0.00 |
| HDFC
Bank |
410.40 |
-1.35 |
| Hero
Honda Motors |
437.15 |
+6.65 |
| Hindalco
Industries Limited |
1,367.60 |
0.00 |
| Hindustan
Petroleum Corp |
324.20 |
-1.50 |
| HLL |
128.25 |
+1.25 |
| ICICI
Bank |
293.65 |
0.00 |
| Infosys
Technologies |
1,704.85 |
0.00 |
| ITC |
1,120.55 |
0.00 |
| Maruti
Udyog |
369.35 |
+1.20 |
| MTNL |
125.90 |
0.90 |
| ONGC |
805.45 |
0.00 |
| Ranbaxy
Labs |
1,091.75 |
+16.25 |
| Reliance
Energy |
664.15 |
-6.15 |
| Reliance
Industries |
558.45 |
+11.65 |
| Satyam
Computer Services |
393.55 |
0.00 |
| State
Bank Of India |
486.55 |
0.00 |
| Tata
Motors |
430.60 |
+3.70 |
| Tata
Power |
331.30 |
0.00 |
| TISCO |
300.05 |
+10.15 |
| Wipro |
632.10 |
+10.30 |
| Zee
Telefilms |
157.35 |
0.00 |
Others
Gujarat NRE Coke up 9.9 per cent at Rs98.95
NEPC India up 20 per cent at Rs10.27
Maharashtra Seamless up 1.7 per cent at Rs242
Bilcare up two per cent at Rs296.25
UltraTech CemCo up 7.11 per cent at Rs.316.25
SRF Ltd. up 5.17 per cent at Rs.54.95
Ashok Leyland up 2.01 per cent at Rs20.35
Birla Corporation up 6.99 per cent at Rs133.85
Neyveli Lignite up 4.35 per cent at Rs64.80
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NTPC
issue sold out in 15 minutes
Mumbai: The IPO of the Government-owned NTPC was
sold out within 20 minutes of the issue opening, merchant
banking sources said.
According to data available on the BSE, investors had
placed cumulative bids for 317.89 crore equity shares
compared to 86.58 crore equity shares available for subscription.
The second largest Government offering for sale of shares
aims to raise around Rs5,360 crore at the upper price
band of Rs62 per share. The indicated price range for
the offering through 100 per cent book building is Rs
52-62 for the Rs 10 face value share.
The majority of the bids on the first day came from institutional
investors, merchant bankers said. Institutional buyers
will be allotted 50 per cent of the shares while retail
investors will get 25 per cent of the issue, which closes
on October 14.
NTPC hopes to use the money raised from selling these
shares for adding six new power generation projects that
will increase its total generation capacity by 6,690 MW.
The projects will be funded through a 70:30 debt-equity
ratio, according to the offer document. The company currently
produces 26.7 per cent of the total power generated in
the country.
NTPC's total income for the year ended March 31, 2004
was Rs25,964 crore. The company recorded a net profit
of Rs5,260 crore.
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SEBI
advisory committee favours retail investors
Mumbai: The Primary Market Advisory Committee of
SEBI is seeking to increase the maximum application amount
of each retail investor in IPOs to Rs 1 lakh. Currently,
a retail investor is not allowed to invest more than Rs50,000
in IPOs.
The committee observed that the current level of Rs50,000
per investor is too small in the context of large-size
book building issues and is also the reason for investors
to make multiple applications in order to satisfy their
investment appetite.
It has also recommended a reduction in the allocation
to the non-institutional buyer category for book building
issues. Currently, in a book built issue, qualified institutional
buyers (QIBs), non-institutional buyers (NIBs) and retail
investors are allotted in the ratio of 50:25:25.
The committee is seeking to change this ratio so that
retail investors get 35 per cent and NIBs would not be
allocated more than 15 per cent of the total issue, in
a voluntary book building issue and in issues where book
building is used to satisfy the eligibility norms in terms
of DIP (Disclosure and Investor Protection) guidelines.
For other book building issues, retail investors would
be allocated 30 per cent, NIB 10 per cent and QIBs 60
per cent.
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