Showing posts from November 8, 2009

Retail investors set to get rich pickings of Central PSUs

Shares to be offered at a discount; NTPC, Satluj Jal and REC divestment this fiscal. Plans ahead Govt hopes to mop up Rs 8,000 crore from NTPC disinvestmentDisinvestment Dept initiates talks with Ministries to identify cos for divestment– Ramesh Sharma

Shedding stake: The Disinvestment Secretary, Mr Sunil Mitra, and the Joint Secretary, Ms Minakshi Ghose, at a press conference in the Capital on Friday. Our Bureau New Delhi, Nov. 13 The Government is likely to offer public sector shares at a discount to individual investors as part of its disinvestment programme. The next offering could be NTPC. The Government expects to garner at least Rs 8,000 crore through the sale of an additional 5 per cent of its stake in the power major. The mop up target is three times the Rs 2,700-crore that the Government got in 2004 for sale of a 5.24 per cent stake in NTPC. The other two PSUs identified for disinvestment this fiscal are Satluj Jal Vidyut Nigam Ltd and Rural Electrification C…

PVR firmly in the picture as promoter hikes stake

PVR galloped 7.79% to Rs 137 at 15:22 IST on BSE, after one of the promoter group companies hiked its stake in the firm. The company made this announcement after market hours on Monday, 9 November 2009. Meanwhile, the BSE Sensex was down 54.08 points, or 0.33%, to 16,444.64. On BSE, 1.40 lakh shares were traded in the counter as against an average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a high of Rs 138.10 and a low of Rs 129.50 so far during the day. The stock had hit a 52-week high of Rs 157.70 on 25 September 2009 and a 52-week low of Rs 57.50 on 2 December 2008. The small-cap stock had underperformed the market over the past one month till 9 November 2009, falling 8.99% as compared to the Sensex's 0.86% fall. It had also underperformed the market in the past one quarter, rising 5.74% as compared to the Sensex's return of 8.83%. The company's equity capital is Rs 23.01 crore. Face value per share is Rs 10. The current pri…

By C. Kutumba Rao - November 9th, 2009

Recovering most of its losses during the early part of the week, markets ended a highly volatile week finishing higher for the week.On the Bombay Stock Exchange, the Sensex gained 262 points to end the week above 16,000-level at 16,158 and the Nifty on the National Stock Exchange (NSE) logged 85 points to close at 4,796.Statements from the Union finance ministry putting at rest speculation about the withdrawal of stimulus packages, positive news flow about the public sector units disinvestment policy and clarifications over the implementation of new direct tax code have helped markets "recover" quickly.A renewed buying support from both foreign and domestic institutional investors and positive global cues turned the sentiment positive for near term.Keep an eye on IIP (Index of Industrial Production) numbers (expected to be weak on underperformance of the infrastructure sector in September) and cues over global economies from G-20 conference in Scotland.For the week ahead, ch…

PSU stocks react positively to disinvestment plans

Timing, pricing of public issues would be vital: Analysts.
Our Bureau Mumbai, Nov. 6 Shares of PSUs with more than 90 per cent Government stake gained between 10 and 20 per cent in Friday after the Cabinet decided to raise public shareholdings in the companies to at least 10 per cent. The Cabinet Committee on Economic Affairs on Thursday approved a mandatory minimum 10 per cent public ownership in all listed and profit making PSUs. The committee also approved listing of all the unlisted but profitable PSUs."This is a very positive move as it will bring more accountability and more transparency to the Government companies," said Mr Gopal Agrawal, Head of Equity, Mirae Asset AMC.All the PSU stocks registered gains after the stock market opened on Friday, but the gains were the most in those listed PSU with less than 10 per cent public shareholding.The stock of MMTC (Rs 10 face value) gained 20 per cent to close at Rs 36,146.85 on the BSE. Public holding in MMTC is …