SENSEX CRASHES…
Sensex, Nifty see largest-ever fall
It was nightmare on Dalal Street today as the market saw its second biggest fall since 2006.
Sensex closed at 17605.35, down 1408.35 points and Nifty at 5208.80, down 496.50 points from the previous close.
Source : Rediff
Retail investors committed Rs 44,000 cr
Mobilises record Rs 1.15 lakh crore deposit
Assurance on allotment to retail investors
Mumbai, Jan 19 Reliance Power IPO’s issue price has been fixed at the top end of the price band at Rs 450 per equity share of Rs 10; the issue is likely to get listed some time in February after the allotment of shares to applicants.
On the prospects of retail investors getting allotment of shares, Mr Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group , said, “It will be ensured that each and every applicant is allotted a bare minimum number of shares.”
Retail individual investors bid 14.4 times the 6.84 crore shares offered under the retail quota. Price for retail investors has been fixed at Rs 430 per share, a discount of Rs 20 per share.
“The issue received a record 50 lakh retail applications and the retail investors made a commitment of Rs 44,000 crore, which was enough for the issue to have been fully subscribed by the retail investors itself,” Mr Ambani, told newspersons during a press conference in Mumbai on Saturday.
In terms of total application money deposited in banks, again the Reliance Power IPO set a record by mobilising Rs 1.15 lakh crore, it was stated during a media briefing on the highlights of the public issue.
The largest IPO in terms of money being raised, at Rs 11,700 crore, drew a phenomenal response from both institutional and retail investors by taking the subscription count to 73 times the 22.8 crore shares on offer, as per the final composite data after the closure of the issue on January 18.
Retail investors also had the option of depositing Rs 115 per share at the time of application.
Corporates’ and the high net worth individuals’ bids reached 190 times for 2.28 crore shares on offer. The portion reserved (13.68 crore shares) for qualified institutional buyers including FIIs got subscribed 82 times.
Source: The Hindu Business Line
The BSE Sensex or Bombay Stock Exchange Sensitive Index is a value-weighted index composed of 30 stocks with the base April 1979 = 100. It consists of the 30 largest and most actively traded stocks, representative of various sectors, on the Bombay Stock Exchange. These companies account for around one-fifth of the market capitalization of the BSE.
The base value of the Sensex is 100 on April 1, 1979 and the base year of BSE-SENSEX is 1978-79.
At irregular intervals, the Bombay Stock Exchange (BSE) authorities review and modify its composition to make sure it reflects current market conditions.
The abbreviated form “Sensex” was coined by Deepak Mohoni around 1990 while writing market analysis columns for some of the business newspapers and magazines. It gained popularity over the next year or two.
The stock market has grown by over ten times from June 1990 to today. Using information from April 1979 onwards, the long-run rate of return on the BSE Sensex can be estimated to be 0.52% per week (continuously compounded) with a standard deviation of 3.67%. This translates to 27% per annum, which translates to roughly 18% per annum after compensating for inflation.
- All About Sensex, Launch of BSE Sensex
- What is Sensex in the stock market?
- What are the objectives of SENSEX?
- How to calculate BSE SENSEX?
- What is the beta of SENSEX scrips?
- SENSEX - Scrip selection criteria
- Maintenance of SENSEX
- How is the closing Index calculated?
- What are the criteria for selection and review of scrips for the SENSEX?
- Who selects these 30 stocks & How do they select these 30 stocks?
- Dollex series of BSE indices
- Book Building - About Book Building
- Definition of Free-float & Determining Free-float factors of companies
- Understanding Free-float Methodology & Its Major advantages
- Book Building - Glossary
- What are the BSE Sensex & the NSE Nifty?
- Technical Analysis of Indian stock market BSE Sensex Index
- How are adjustments for Bonus, Rights and newly issued Capital carried out in SENSEX?
- The Sensex story: From 1K to 18K
- The Sensex story: From 1K to 20K (Sensex from 1000 to 20000)
- BSE 100 Index
- BSE 200 Index
- BSE 500 Index
- Companies that form the NSE Nifty Index
- BSE TECk INDEX
- BSE BANKEX
Click here for more details about sensex:
Business Profile:
Reliance Power Limited is part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally. The Company on its own and through subsidiaries is currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW, one of the largest portfolios of power generation assets under development in India. Our 13 power projects are planned to be diverse in geographic location, fuel type, fuel source and off-take, and each project is planned to be strategically located near an available fuel supply or load center. The identified project sites are located in western India (12,220 MW), northern India (9,080 MW) and northeastern India (2,900 MW) and southern India (4,000 MW). They include six coal-fired projects (14,620 MW) to be fueled by reserves from captive mines and supplies from India and abroad, two gas-fired projects (10,280 MW) to be fueled primarily by reserves from the Krishna Godavari Basin (the “KG Basin”) off the east coast of India, and four hydroelectric projects (3,300 MW), three of them in Arunachal Pradesh and one in Uttarakhand. Reliance Power has acquired the two ultra mega power projects of 4,000 MW each at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh. The 7,480 MW project to be located at Dadri in Uttar Pradesh is expected to be the largest gas-fired power project at a single location in the world. We intend to sell the power generated by these projects under a combination of long-term and short-term PPAs to state-owned and private distribution companies and industrial consumers. Website: http://www.reliancepower.co.in
Reliance Power IPO News
Reliance Power IPO subscribed 5.4 times at Rs 450/sh
Reliance Power IPO has subscribed 5.4 times. All bids are at Rs 450 per share, a higher end of band Rs 405-450…..(Moneycontrol.com)
Reliance Power IPO fully subscribed January 15, 2008 10:20 IST
Anil Ambani group’s $3-billion Reliance [Get Quote] Power IPO on Tuesday got fully subscribed within minutes of its book building process, which started this morning, investment banking source said.…..(Rediff.Com)
Subscribe to Reliance Power IPO for listing gains: Experts
2008-01-14 21:58:38
Reliance Power is planning to raise around Rs 10,530-11,700 crore from its initial public offering (IPO) of 26 crore equity shares with a face value of Rs 10, for cash, a price decided through 100% book building process. The price band is at Rs 405-450 per share….(Moneycontrol.com)
SAT adjourns hearing on Reliance Power till Jan 21
14 Jan, 2008, 1352 hrs IST, PTI
MUMBAI: Securities Appellate Tribunal on Monday adjourned its hearing till January 21, on complaints against Anil Ambani group’s three-billion dollar Reliance Power IPO, scheduled to hit the market on Monday. ….( Economicstimes.com )
Anil Ambani group’s Reliance Power IPO on Tuesday generated a demand of close to Rs 1 lakh crore (Rs 1 trillion) within four hours of start of the book building process, with the issue getting oversubscribed nearly 10 times.
According to the latest data available, the IPO got subscribed 9.68 times till 1400 hrs in the first day of its public issue.
It received bids for over 220 crore (2.20 billion) shares as against 22.80 crore (228 million) shares on offer. The issue, which began this morning and would continue till January 18, has already generated demand for shares worth Rs 99,373 crore (Rs 993.73 billion). “It is a reflection of world community in the future of India… Investors seem to be confident in the future of Indian economy,” Finance Minister P Chidambaram told PTI on the IPO.
Most of the bids came at Rs 450, the upper end of the price band making it the country’s largest-ever IPO with an estimated proceeds of Rs 11,700 crore (Rs 117 billion), bankers close to the IPO said.
“It has created an unprecedented euphoria in the market, The issue would be a good option for retail investors who are looking for short term gains,” domestic brokerage firm SMC Global’s vice president Rajesh Jain said.
The company is offering the equity shares at a price band of Rs 405-450 per share. The total size of the IPO is of 26 crore (260 million) equity shares, including the promoters contribution of 3.2 crore (32 million) shares. The net issue to the public constitutes 22.8 crore shares.
Reliance Power has a diversified portfolio of 13 medium and large-sized power projects under development and strategically located at various places across India, the company had said in a statement.
Tuesday, January 15, 2008. It’s sure everyone’s already started to accumulate funds to invest in the Reliance Power IPO. History stands testimony that such a big issue is definitely bound to give decent returns to retail investors since the retail investor category will not get heavily oversubscribed incase of IPO’s with a huge issue size. Reliance Power IPO is set to be the biggest of them all and here is a chnace for retail investors to make some risk free returns.
Reliance Power IPO will be open for subscription only for 4 days since the IPO closes for subscription on Friday, January 18, 2008. Reliance Power IPO will be fully covered in this blog and details including Reliance Power IPO Subscription details and Reliance Power IPO Allotment status will be posted here as and when they are available.
Professional Development Committee has organized a Global CA Networking Summit to facilitate Networking among CAs practicing in India as also abroad. The Summit will enable delegates to meet professionals interested in Networking, exchange views and thoughts, understand the imperatives of Networking and even sign MOUs in the presence of dignitaries from the Ministry, President or Vice President of ICAI.
The Summit will be addressed by eminent professionals like Mr Ashok Wadhwa and Mr Gautam Doshi. Participants may identify firms for networking and set up meeting in advance
Mentoring is the key component of this Summit and besides Mr Ashok Wadhwa and Mr Gautam Doshi, other professionals will provide guidance and mentoring; understand specific issues being faced by members in Networking and advise them on the possible solutions.
Ministries have also indicated initial interest in participating in the Event. Exact details for the participation fee and like are being worked out and details will be posted on ICAI Website
First 30 Overseas delegates registering for the Summit will receive invites from Ministry of Overseas Affairs to participate in the dinner hosted by the Ministry on the eve of the Pravasi Bharatiya Divas at Delhi.
For online registration form, (please select seminar option) ? (to map this URL: http://220.225.137.148/ICAI/Conference.jsp)
The results of the Chartered Accountants Final and Professional Education ? I Examinations held in November, 2007 are likely to be declared on Wednesday, the 16th January, 2008 around 12 Noon. Further, the results of Professional Education - II and Professional Competence Examinations held in November, 2007 are likely to be declared on Wednesday, the 23rd January, 2008 around 12 Noon. The merit list (candidates securing a minimum of 60% and above marks and upto the maximum of 30th rank in the case of Professional Education ? I Examination and candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank in the case of Professional Education ? II and Final Examinations) on all India basis will be available on the following website: http://www.caresults.nic.in