11 IPOs as companies cash in on bull run
September 20th, 2010 - 6:19 pm ICT by IANS
Mumbai, Sep 20 (IANS) Even as benchmark indices for Indian equities move up closer to their pre-slowdown highs achieved 32 months ago, the prevailing bullish sentiments have encouraged 11 companies to enter the stock markets all in the same week.
“The current week starting Sep 20 2010, features 11 IPOs (initial public offerings) which remain open. This will be the busiest week in the Indian primary market’s history after 1995,” said Jagannadham Thunuguntla, equity strategist, SMC Global Securities Ltd.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up a handsome 311 points or 1.59 percent to close Monday at 19,906.1 points. It touched an intra-day high of 19,927.3 points.
Similarly, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty rose 1.62 percent higher to 5,980.45 points.
Till Sep 20, the Sensex has soared 10.7 percent fuelled by capital inflows from foreign institutional investors (FIIs). During the same time, FII investment in equities has crossed $3 billion.
“The liquidity, which was flooding the secondary market, is all set to flood the primary market as well,” said Thunuguntla.
Among the 11 companies whose IPOs hit the markets this week are: Orient Green Power Limited with an issue size of Rs.900 crore, Ramky Infrastructure Limited (Rs.530) crore and VA Tech Wabag (Rs.500 crore).
- Sensex marches on, FII money continues to pour in (Roundup) - Sep 20, 2010
- Overseas investors bullish, pump in over $1.78 bn - Jan 29, 2012
- Overseas funds bought Indian stocks worth $282 mn during week - Jul 31, 2011
- Overseas funds sold $1.5 bn in August - Aug 21, 2011
- Foreign funds propel Sensex to new 32-month high - Sep 14, 2010
- Sensex edges up but ends lower for second consecutive week (Roundup) - Mar 02, 2012
- Companies deferring public issue in bearish markets - Nov 28, 2011
- Foreign funds investments in September at $6.97 mn - Oct 02, 2011
- Overseas funds sell over $259 million in equities - Sep 18, 2011
- Overseas funds sell $22.39 million in equities - Sep 25, 2011
- Foreign fund inflow touches $4.64 billion in September - Sep 26, 2010
- FIIs bought stocks worth $1 bn in June - Jul 03, 2011
- Overseas funds pump in over $588 million in volatile trading week - Sep 11, 2011
- Fifth straight weekly loss for Sensex (Weekly Market Review) - Mar 24, 2012
- Foreign funds pumped in over $1.5 billion in March - Apr 03, 2011
Tags: 311, bombay stock exchange, bse, capital inflows, foreign institutional investors, global securities, infrastructure, initial public offerings, ipos, liquidity, national stock exchange, rs 500, sensex, sensitive index, sentiments, slowdown, stock markets, strategist, va tech wabag