Stock Split ,IPO's & Markets

Bulls & Bears are fighting in the Range

Marksans Pharma Stock Split Issue

Marksans Pharma Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from March 18, 2008 to March 25, 2008 (both days inclusive) for the purpose of sub-division of the Equity Shares of the Company from Rs 10/- per share of the Company into the shares of Re 1/- each.

V-Guard has Fixed Issue Price at Rs. 82

V-Guard Industries has fixed the issue price at Rs 82 per equity share. If you have read here before that the IPO issue price was between Rs 80 and 85.

REC IPO Allotment Status and IPO Listing Price

I know everyone is eagerly waiting for REC IPO allotment status because where all IPOs were being withdrawn or being subscribed marginally, REC was subscribed almost 27.76 times total and 7.67 times in retail section. The people who has applied for 4 lots, are certainly gone into lottery system for IPO allotment in this IPO. As we mentioned before also, we applied for 8 lots, so we are almost sure to get at least 1 lot but it makes sense till we wait and see it in the IPO allotment status.

This week certainly you shall be able to check REC IPO allotment status here. The IPO is expected to list higher than the IPO price of Rs. 105 unlike Reliance Power powerless listing. REC IPO listing is expected around 14th-15th March.

Gammon Infra IPO Opening on 10th March 2008

Gammon India's subsidiary Gammon Infra is coming up with an IPO offering 165.50 lakh equity shares of Rs 10 each on March 10, 2008 at a price band of Rs 167-200 per share. The issue will close for subscription on March 13.

SSKI Corporate Finance Private Limited and Macquarie India Advisory Services Private Limited are the book-running lead managers to the issue.

Currency

We were repeatedly mentioning possibility of a ‘testing’ of break-out from 4-month old trend-line.This week, Rupee suddenly broke below 40 on global cues but bounced back again.39.50 is expected to act as a support with
a medium-term down-trend having target of 40.60 to 41.30.

Crude

Crude oil is fluctuating with a wild swing since Nov.’07 when market lost crucial short-term support of Iran & its nuclear activity, after US spy & intelligence agencies submitted a report, which mentioned that Iran halted its nuclear
activity in 2003 itself.
Another short-term support i.e. winter season in northern hemisphere is also abating.
There is no fundamental reason to justify Crude oil price rise in a wake of a fear of
US slow-down except long positions of institutions.
Crude oil is expected to show huge swing between $ 85 & slightly above $ 100 in coming days. Crossing $ 100 mark decisively seems difficult.