Money Tree

The much awaited DLF ipo is expected to open on 11th June 2007 and the price band is likely to be Rs. 510 to Rs. 600 per share. The total issue size is expected to be near Rs. 10,000 crores, one of the biggest issues in Indian primary market.
SEBI has given its nod to the OMAXE IPO and the same should also hit the markets in the month of June or in early July. The last real estate player to come out with an IPO was Orbit Corporation which came out with a successful IPO last month.
The overall real estate sector is in an uptrend with Unitech recently making its all time high and other players like Ansal Properties, Parsvnath Developers, Mahindra Gesco, Sobha Developers, etc also in an upmove.

The stock fell near 2400 mark as the sell off trigerred in the last half hour of trade. Earliar the stock had made an intra day high of 2749 and then after the release of the news of demerger the stock saw some sell off which took it down to near 2400 levels, however it closed at Rs. 2503.90 down about 6.6 percent.

As per the latest reports two new companies will be incorporated and after demerger there will be three companies in all. The two new companies will be Bajaj Holdings Ltd and Bajaj Finserve Ltd. The shareholders of Bajaj Auto Ltd. will get shares of Bajaj Holdings and Bajaj Finserve in the ratio of 1:1. The face value of the shares of Bajaj Finserve will be Rs. 5 and the face value of the shares of Bajaj Holdings will be Rs. 10.

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LIC has made a bid for 1 crore shares of Maruti Udyog Ltd. at Rs. 800 per share and Corporation bank has made a bid for 1 lac shares at Rs. 850. The Government is selling its stake in Maruti through auction and has invited bids from financial institutions and Banks. The Government of India is selling a total of 3 crore shares in Maruti Udyog Ltd.
The price of the stock has shoot up to 810 just after coming in of this news, the stock was trading below Rs. 800 levels in the morning.

Insecticides India Ltd. has come out with an IPO to open for subscription from 07th May 2007.

The salient features and extracts from the Red Herring Prospectus of the issue are given hereunder:

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After good numbers posted by tech majors Infosys, Satyam and Wipro, today Reliance Industries has posted yet another set of Q4 numbers beating street expectations. The turnover was seen at Rs. 25895 crores versus Rs. 24542 in the corresponding previous quarter. The Q4 GRM (Gross refining margins) stood at $13/bbl versus $11.30/bbl in the last quarter of the same fiscal.
The net profit was up to 2853 crores versus 2502 crores up 20.3 percent year on year basis.

The ICRA stock has been listed today at Rs. 540 as against its issue price of Rs. 330 per share. The stock has made a low of Rs. 540 and a high of Rs. 651.80 till 11.00 a.m. Currently the stock is quoting at Rs. 645.

The Shares of Orbit Corporation have been listed today at Rs. 113 as against its issue price of Rs. 110 per share. The stock has made a low of Rs. 110.15 and a high of Rs. 137.60 during the day.

The first Gold Exchange traded fund Gold Bees offered by Benchmark has been listed at Rs. 1000 on NSE today. One unit of Gold bees represents nearly 1 gram of gold. With the listing of this fund liquidity has been provided to those investors who are interested in investing in gold. The gold ETF made a high of Rs. 1145 and a low Rs. 940 in the morning. Currently at 11.40 a.m it is trading at Rs. 948 which is almost near to the prevailing rates of one gram of gold.

Mindtree Consulting has crossed 900 mark in the morning, much above our expectations and at this price the company seems to be a bit costly. We recommended a buy at below 800 levels and now the investors who have entered on our advice or who have got an allotment are in good profits, we recommend an exit at around Rs. 900 levels as it will be a bit risky to remain invested above this level.

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