Weekly outlook 21/02/2010
Without doubt, next week will be action-packed for the Indian markets.Apart from Railway Budget, Economic Survey and Union Budget,
we will also have to grapple with the F&O expiry and of course Q3
GDP figures.To add to the anxiety would be newsflow from the external
front, which of late has been exerting quite an influence on the
overall market sentiment. Talking of global markets, China
will resume trading after a long holiday. The surprise hike in reserve
ratio just before the holiday started and the Fed move to raise the discount rate
could weigh on that market. Not much data is expected from China next
week.On the other hand, a lot of economic reports are due from the US
next week, including a spate of data on housing and revision in third
quarter GDP.
Coming back to India,
the main focus will be on Budget and what the two Bengali ministers
have in store for all concerned. One thing is sure they can't afford to
be too populist this time around. They better not, as the economy is at
a crucial juncture and any further slippage in policy making could hurt
its prospects going forward. A broad consensus that is emerging on the
Budget is that there will definitely be a partial rollback of fiscal
stimulus, besides articulation of a roadmap to return to the path of
fiscal prudence.One should also watch out for announcements on
disinvestment, GST rollout, 3G auction and the Centre's estimate of
market borrowings.
Given the spiraling inflation, we expect the Government to try and address growing concerns on this front as well.
Speaking of sectors that might gain from the Budget, the usual suspects are Infrastructure, Education, Fertilizers, Textiles,Agricultur
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United Bank of India - IPO
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United Bank of India is a public sector banking institution with branches in 28 States and in 4 Union Territories in India. The Bank is currently wholly-owned by the Government of India. As of December 18,2009,
they had 1,484 branches, 265 ATMs, 28 regional offices and 11 extension
counters. United Bank is in the process of opening a representative office in Dhaka, Bangladesh. As of December 18, 2009,company had a workforce of 15,813 employees (including part-time
employees). United Bank of India is one of the 14 banks which were nationalised on July 19, 1969.
United's business is principally divided into retail banking,corporate / wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution,
pension and tax collection services. Their retail banking business
provides financial products and services to retail customers. United
Bank provide loans and advances for housing, trade, automobiles, consumer durables,education, personal loans
and other retail products. Also they provide commercial banking
products and services to corporate customers, including mid-sized and
small businesses and government entities. They offer direct financing
to farmers for production and investment, as well as indirect financing
for infrastructure development and credit to suppliers of agricultural inputs.
In Fiscal 2009, company made a net profit of Rs. 358.55 crore and had net assets
of Rs. 61,500.78 crore and net worth of Rs. 2,537.83 crore.As of
September 30, 2009, they made a net profit of Rs. 231.10 crore and had
net assets of Rs. 71,952.25 crore and net worth of Rs.2,769.87 crore.
They have experienced growth in deposits and advances,with deposits
growing at a compounded annual rate of 21.1% during the last five
fiscal years and net advances growing at a compounded annual rate of
32.8% during the same period.
The objects of the Issue are:
1. To augment capital base to meet the future capital requirements arising out of the growth in their assets due to the growth of the Indian economy; and 2. For meeting the expenses of the Issue.
Issue Detail:
»» Issue Open: Feb 23, 2010 - Feb 25, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 50,000,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 300.00 - 330.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 60 - Rs. 66 Per Equity Share
»» Market Lot:
»» Minimum Order Quantity:
»» Listing At: BSE, NSE
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IPO Listing - Aqua Logistics Ltd
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Aqua Logistics Ltd IPO will list on Tuesday, February 23, 2010. Issue
price of this IPO has been fixed at Rs 220/- per share. Aqua Logistics
IPO subscribed 1.94 times(3.0002 times in retail).
IPO Listing Detail
Listing Date: Tuesday, February 23, 2010
BSE Script Code: 533159
NSE Symbol: AQUA
Listing In: B Group
ISIN: INE544K01018
Issue Price: Rs. 220.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share
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IPO Listing - DB Reality Ltd
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DB Realty Ltd IPO will list on Wednesday, February 24, 2010. Issue
price of this IPO has been fixed at Rs 468/- per share. IPO was
oversubscribed by 2.95 times (0.3658 times in retail).
IPO Listing Detail
Listing Date: Tuesday, February 24, 2010
BSE Script Code: 533160
NSE Symbol: DBREALTY
Listing In: B Group
ISIN: INE879I01012
Issue Price: Rs. 468.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share
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