Infibeam's IPO subscribed 0.11x, RIIs show muted interest

At 12:13 IST, as per NSE data, the issue is subscribed 0.11x. For Qualified Institutional Buyers (QIBs), the number of shares offered are 93,75,000, out of which, bids have been received for 14,04,744 shares. 

Infibeam IPO, India's first in the e-commerce sector, opened today for subscription. Infibeam, promoted by Ajit Mehta, Vishal Mehta, and Malav Mehta, has opted to raise Rs. 450cr directly from the primary market.

At 12:13 IST, as per NSE data, the issue is subscribed 0.11x. For Qualified Institutional Buyers (QIBs), the number of shares offered are 93,75,000, out of which, bids have been received for 14,04,744 shares. Retail Individual Investors (RIIs) biddings have been muted, with only 11,254 shares bid for out of 12,50,000 shares. Non Institutional Investors haven't  shown much interest in the IPO, with no biddings for the 18,75,000 shares being offered. 

Bharat Wire Ropes IPO subscribed 40% on first day

The initial public offering (IPO) received bids for 69,78,300 shares against the total issue size of 1,75,00,000 shares, according to NSE data. 

The  IPO of Bharat Wire Ropes was subscribed 40% on the first day of the issue.

The initial public offering (IPO) received bids for 69,78,300 shares against the total issue size of 1,75,00,000 shares, according to NSE data.

The company has fixed the price band at Rs 40-45 for the IPO.  

The company is planning to raise Rs 70 crore through the issue. 

The proceeds will be utilised for setting up a manufacturing plant at Chalisgaon in Maharashtra and for other general corporate purposes. 

PFS sanctions loans worth Rs. 1100 crore

PTC India Financial Services Ltd has announced that it has sanctioned loans worth Rs. 1100 crore for providing financial assistance to the power/infrastructure sector in India.

PTC India Financial Services Ltd has announced that it has sanctioned loans worth Rs. 1100 crore for providing financial assistance to the power/infrastructure sector in India.

The scrip opened at Rs. 36.05 and has touched a high and low of Rs. 37.6 and Rs. 35.95 respectively. So far 431579(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2034.73 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 62.2 on 15-Apr-2015 and a 52 week low of Rs. 29.75 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 36.65 and Rs. 34.1 respectively.

The promoters holding in the company stood at 60 % while Institutions and Non-Institutions held 13.54 % and 26.46 % respectively.

The stock is currently trading below its 200 DMA.

Pennar Engineered Building Systems down 2%

Pennar Engineered Building Systems Ltd has announced that the shareholding of promoters group namely Aditya Rao and Danapuneni Sudeepta Rao in the company has was released from the Escrow account. 

Pennar Engineered Building Systems Ltd has announced that the shareholding of promoters group namely Aditya Rao and  Danapuneni Sudeepta Rao in the company was released from the Escrow account.

The stock is down by 2% at Rs. 140.

The stock has hit a high of Rs. 141 and a low of Rs. 140.

Lanco Infratech surges 3%

Ratnagiri Power, GMR Energy, GVK Power, Lanco Infratech and Sravanthi Energy are among companies that emerged with aggressive bids in third round of imported natural gas auction, according to reports. 

Lanco Infratech stock was up by 3% at Rs. 5.23. Ratnagiri Power, GMR Energy, GVK Power, Lanco Infratech and Sravanthi Energy are among companies that emerged with aggressive bids in third round of imported natural gas auction, according to reports.

The scrip opened at Rs. 5.06 and has touched a high and low of Rs. 5.29 and Rs. 5.06 respectively. So far 1088632(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1399.41 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 7.78 on 06-Jan-2016 and a 52 week low of Rs. 2.46 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 5.5 and Rs. 5.05 respectively.

The promoters holding in the company stood at 70.55 % while Institutions and Non-Institutions held 5.04 % and 24.41 % respectively.

The stock is currently trading above its 50 DMA.

Stocks buzzing at this hour - Persistent Systems climbs, Lupin dips again

Check out the most important and latest stock news from NSE and BSE. Gujarat Pipavav Port Ltd rallied 4.3% at Rs. 174. The company announced the commencement of INDFEX service at Pipavav port, as per a media report.

Persistent Systems Ltd stock was higher by 10% at Rs. 736. The company announced that it is working with IBM  to improve and transform engineering processes, integrating new specialized consulting services via the IBM Watson Internet of Things (IoT) platform to help engineers integrate massive amount of data from the IoT into product development.

Lupin slipped 2% to Rs.1529 on BSE.

VA Tech Wabag Ltd, a leading Indian MNC in the water sector has won record orders worth Rs. 5,000 crore in FY 2016. This is the highest ever order intake clocked by the Group in a single financial year.

Gujarat Pipavav Port Ltd stock was higher by 4% at Rs. 174.The company announced the commencement of INDFEX service at Pipavav port, says a report.

Sobha Ltd stock was higher by 5% at Rs.273. The company raised Rs. 15 crore through private placement of non-convertible debentures, according to reports.

IDBI Bank stock was higher by 5% at Rs. 70. The government is planning to get  two large institutional investors to buy stake in state-run IDBI Bank, according to reports. Talks have been held with some players who showed interest, as per reports.

Alok Industries slipped 4.8% to Rs.5.13 on BSE. 

Va Tech Wabag secures orders worth Rs.5000 crore in FY16

The Exim Bank of India funded Polgahawela Water Treatment Plant order has been brought into the company's order book, following the signing of the loan agreement between the Water Board of Sri Lanka and Exim Bank of India earlier this month. 

VA Tech Wabag Ltd, a leading Indian MNC in the water sector has won record orders worth Rs. 5,000 Crores in FY 2016. This is the highest ever order intake clocked by the Group in a single financial year.

The Exim Bank of India funded Polgahawela Water Treatment Plant order has been brought into the company's order book, following the signing of  the  loan agreement between the Water Board of Sri Lanka and Exim Bank of India earlier this month. The order is worth US$ 108 mn and is the second order secured from Sri Lanka by the Company through Buyers Credit, the first one being the Dambulla order, which is at an advanced stage of completion. The scope includes Design, Construction, Testing and Commissioning of an Integrated Water Supply Scheme for Polgahawela and adjoining areas.

Speaking on the development, Mr. Arvind Dullu, Country Head - Sri Lanka, said "I am happy that we have secured the second order in Sri Lanka with Buyers Credit of Exim Bank which reaffirms WABAG's focus on funded orders across geographies."

In September '15, the company secured an INR 1,500 crore Effluent Treatment Plant order from PETRONAS in Malaysia which is progressing at a good pace. The Re-FEED engineering approval has been achieved and the procurement activities have already started for this project. The construction activities too at the site have begun.

On the INR 580 crore Al Madina Al Shamaliya Sewage Treatment Plant order, which was bagged by the Company during the month of July '15, the basic engineering has been approved by the client. In this project, the civil works have started and the ordering of key equipments is at an advanced stage. The INR 220 Crore RWTP order from Dangote Fertilizers in Nigeria is at an advanced stage of engineering and the ordering of supplies is progressing at a good pace.

stock view:
Va Tech Wabag Ltd is currently trading at Rs. 531.3, up by Rs. 22.75 or 4.47% from its previous closing of Rs. 508.55 on the BSE.

The scrip opened at Rs. 513 and has touched a high and low of Rs. 540.95 and Rs. 507.5 respectively. So far 32346(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2771.41 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 956.7 on 19-Mar-2015 and a 52 week low of Rs. 409.3 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs. 536 and Rs. 497.7 respectively.

The promoters holding in the company stood at 28.95 % while Institutions and Non-Institutions held 52.4 % and 18.65 % respectively.

The stock is currently trading above its 200 DMA.

Gujarat Pipavav port rallies 4%

The company announced the commencement of INDFEX service at Pipavav port, says a report. 

Gujarat Pipavav Port Ltd stock was higher by 4% at Rs. 174. The company announced the commencement of INDFEX service at Pipavav port, as per a report.

The scrip opened at Rs. 167.9 and has touched a high and low of Rs. 175 and Rs. 167.4 respectively. So far 77734(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8063.78 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 262 on 06-Apr-2015 and a 52 week low of Rs. 136.6 on 30-Dec-2015. Last one week high and low of the scrip stood at Rs. 169 and Rs. 155.55 respectively.

The promoters holding in the company stood at 43.01 % while Institutions and Non-Institutions held 49.36 % and 7.63 % respectively.

The stock is currently trading below its 200 DMA.

REC to invest Rs 99 cr in EESL

Rural Electrification Corporation Ltd has announced that the Board of Directors of the company at its meeting held on March 18, 2016, inter alia, had approved sale and transfer of 50,000 equity shares of Rs. 10 each of NRSS XXXVI Transmission Limited.

Rural Electrification Corporation Ltd has announced that the Board of Directors of the company at its meeting held on March 18, 2016, inter alia have approved sale and transfer of 50,000 equity shares of Rs. 10 each of NRSS XXXVI Transmission Limited, a wholly owned subsidiary of RECTPCL (also subsidiary of REC as per the provisions of Section 2(87) of the Companies Act, 2013) to successful bidder, i.e., M/s Essel Infraprojects Limited.

Further investment in the equity share capital of Energy Efficiency Services Limited (EESL) (a joint venture company of NTPC, REC, PFC & Power Grid Corporation of India Limited) upto an amount of Rs. 99 crore was approved. After the proposed investment, the shareholding of REC in EESL will increase from 28.79% (amounting to Rs. 47.50 crore) to 31.7% (amounting to Rs. 146.50 crore) of the post issue paid up capital of EESL.

Rural Electrification Corporation Ltd is currently trading at Rs. 170.8, up by Rs. 1.9 or 1.12% from its previous closing of Rs. 168.9 on the BSE.

The scrip opened at Rs. 169.9 and has touched a high and low of Rs. 170.95 and Rs. 169.25 respectively. So far 128360(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16678.2 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 352.95 on 19-Mar-2015 and a 52 week low of Rs. 152.5 on 24-Feb-2016. Last one week high and low of the scrip stood at Rs. 170.75 and Rs. 162.5 respectively.

The promoters holding in the company stood at 60.64 % while Institutions and Non-Institutions held 33.4 % and 5.96 % respectively.

The stock is currently trading above its 200 DMA.

Persistent Systems zooms 12%; working with IBM to improve engineering

The company announced it is working with IBM to improve and transform engineering processes, integrating new specialized consulting services via the IBM Watson Internet of Things (IoT) Platform to help engineers integrate massive amount of data from the IoT into product development.

Persistent Systems Ltd stock was higher by 12% at Rs. 750.

The company announced it is working with IBM  to improve and transform engineering processes, integrating new specialized consulting services via the IBM Watson Internet of Things (IoT) Platform to help engineers integrate massive amount of data from the IoT into product development. 

Persistent has more than 1,000 engineers dedicated to the IBM Watson IoT Platform and IBM IoT Continuous Engineering solutions, and the new specialized services around engineering, software development and data analytics will provide clients with the necessary skills and steps to adopt more agile practices for engineering.

The scrip opened at Rs. 690 and has touched a high and low of Rs. 796.75 and Rs. 690 respectively. So far 40351(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5358 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 820 on 20-May-2015 and a 52 week low of Rs. 562.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 680 and Rs. 590 respectively.

The promoters holding in the company stood at 38.53 % while Institutions and Non-Institutions held 34.31 % and 22.18 % respectively.

The stock is currently trading below its 200 DMA.