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Markets this week
On Monday, the Indian bourses snapped its six-day winning streak and closed lower at 16,214, easing 50 points and the Nifty at 4,808, down 21.
The price of Oil India, whose initial public offering got subscribed over 30 times, has been fixed at Rs 1,050 -the top-end of the price band. The stock would be listed on the exchanges on September 30.
The shares ended at their highest level in nearly 16 months on Tuesday due to fund buying in banks and some blue chips as well as a positive close in Asian markets. The Sensitive Index jumped 240 points to 16,454 and the Nifty closed up 83 points, to 4,892.
The Chennai-based Thinksoft Global Services is entering the capital market with an initial public offering of 36.46 lakh shares. The issue opens on September 22 and closes on September 24. The price band has been fixed at Rs 120- 130 a share.
The takeover battle for Great Offshore Ltd intensified further with Bharati Shipyard on Wednesday acquiring another 3 per cent stake, raising its holding in the company to 22.48 per cent.
Bharati, which is facing a counter bid from rival ABG Shipyard, said it acquired 7.56 lakh shares on the BSE and 3.60 lakh shares on the NSE (together representing a 3.01 per cent stake in Great Offshore) through bulk deals at an average price of Rs 558.81 a share. The purchase also includes 2.23 lakh shares held by Videocon Industries Ltd.
Institutional buying in pivotals pushed the shares further on Wednesday. The Sensex gained 222 points to close at 16,677. On the NSE, the Nifty closed up 66 points at 4,958. Market participants said Wednesday's gains were partly driven by short covering ahead of the expiry of derivatives on September 24.
The initial public offering of Pipavav Shipyard was fully subscribed on the first day of its opening on Wednesday. The issue was subscribed 2.67 times according to NSE data. The price band for the issue was fixed at Rs 55-60 a share.
Markets ended flat on Thursday and the Sensex closed slightly higher at 16,711, up 34 points. The Nifty hit the landmark 5,000-level intra-day and finally ended at 4,965, marginally up seven points.
Compact disc maker Euro Multivision will enter the capital market with an initial public offering to raise a maximum of Rs 66 crore. The IPO consists of 88 lakh equity shares with a price band of Rs 70- 75. The issue opens on September 22 and closes on September 24.
The Indian bourses were in a cautious mode on Friday and closed the session with a positive bias. The Sensex finally finished higher at 16,741 with a gain of 30 points and the broader Nifty ended at 4,976, up 10 points. Most of the sectoral indices closed higher which signals an uptrend.
Compiled by S Vasudevan
Podcast M J Madhavan
S Narayanamurthi
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