Page 11 - Street Signs

Mahanagar Gas commands 30% premium in grey market

The gas distribution company's initial public offering (IPO) will open for subscription on Tueday and will close on Thursday

Ujjivan's late surge stuns HNIs

Several high net worth individuals (HNIs) have been caught on the wrong foot with their investments in Ujjivan Financial Services. About 600 such investors had placed leveraged bets worth nearly Rs 17,000 crore in its initial public offering (IPO). Shares of Ujjivan listed at a premium of only 10 per cent, which barely covered their interest costs. As IPO loans are given for a very short time, most of them had to liquidate their holdings. Soon after, Ujjivan's shares saw a spectacular surge of about 60 per cent. On Friday, the stock touched a record high of Rs 400, almost double the issue price of Rs 210, leaving most HNIs red-faced.Samie ModakContra call on VRL Logistics?The share price of VRL Logistics has taken a sharp hit since late May, when the management declared flat sales growth, and more important, its promoters' intention to enter the aviation sector through a separate venture. The stock price continued to go downhill after Chairman and Managing Director Vijay Sankeshwar sai

After BPCL, Street hopes for bonus from HPCL

A bonus announcement of 1:1 by Bharat Petroleum Corporation (BPCL) last week has raised hope that peer Hindustan Petroleum Corporation (HPCL) will soon issue a bonus. HPCL had issued a 1:2 bonus way back in September 1999. As HPCL's 2015-16 earnings per share was Rs 145, more than BPCL's Rs 110, market players say it could be a good opportunity for the company to reward its shareholders.Joydeep GhoshBonanza for traders of L&T call optionsA sudden spike in the Larsen & Toubro (L&T) call option seems to have led to a windfall for investors. On Wednesday, L&T call options at a strike price of Rs 1,400 closed at Rs 0.40. After the engineering major announced its results, the price of the option shot up to Rs 72. A trader who had purchased these options worth Rs 10,000 on Wednesday would have made Rs 18 lakh in only one day.Joydeep GhoshSebi expects more mutual fund scheme mergersThe Securities and Exchange Board of India (Sebi), which has been pushing mutual fund houses to

Centre plans 20% block sale in NBCC

The government is planning to sell 20 per cent stake in National Buildings Construction Corporation (NBCC) at one go through the offer for sale (OFS) route, say people in the know. The share sale, worth Rs 2,300 crore at current prices, would be one of the largest OFS ever. The Centre, which currently owns 90 per cent stake in the real estate developer, is in the process of appointing investment bankers for the issue.Sebi withdraws review petition in Roofit caseMarket regulator Securities and Exchange Board of India (Sebi), which had asked for a review of the Supreme Court's decision in the matter of Roofit Industries, has withdrawn its appeal, say sources. Instead, the regulator is planning to write to the central government to change the provisions of its securities laws that deals with the quantum of penalty that the regulator can impose. In the Roofit matter, SC had ruled that neither Sebi nor Securities Appellate Tribunal could use their discretion while imposing penalties, after

I-bankers scrum over fees

With several marquee deals up for grabs, investment bankers are again undercutting each other

New financial year, old story

Despite the changes in department of disinvestment and its rechristening to the department of investment and public asset management, things haven't changed much

Ujjivan, Thyrocare IPOs command a premium in grey market

Ujjivan, which is coming out with a Rs 882-crore IPO, is trading at a premium of Rs 40-45 a share in the grey market

Cement stocks catch investors' attention

Analysts say many investors have turned bullish on these stocks after a surge in demand for cement in Andhra Pradesh and Telangana

Sebi warns MFs on bailing out group companies

Recently, there were strong rumours that a leading bank had sold some of its lower-rated papers to its mutual fund arm

Will JSPL repay bondholders in April?

With another tranche of JSPL bonds amounting to Rs 300 crore coming for redemption on April 4, fund houses are worried whether they will get repaid

Big-ticket divestment in the offing

Market players say the government is likely to attempt, at least, one big-ticket sale this month