Unstructured Finance

JP Associates rises on unit IPO price band

MARKETS-SOUTHASIA-STOCKS/

Shares in JP Associates ended 6.2 percent higher at 159 rupees with volumes of 2.7 million.

The stock was the top performer of the day and also among the top traded counters.

Jaypee Infratech has set a price band of 102-117 rupees per share for its initial public offer, aimed at raising up to 23.5 billion rupees ($530 million).

The offer comprises fresh issue of shares to raise 16.5 million rupees, as well as sale of 60 million shares by parent construction firm Jaiprakash Associates.

Do you think fresh infusion of equity will help the company grab more opportunities and help the counter touch new highs?

Sensex gains over 400 points, ICICI jumps

INDIA-STOCKS/The stock market bounced back smartly today, gaining over 400 points to recover all of yesterday’s losses.

Short covering ahead of the derivatives expiry today helped the benchmark’s rise as it closed at 11,403.

ICICI Bank, India’s top private lender, gained nearly 9 percent and ended as the top Sensex gainer. It was followed by JP Associates (up 6.8 percent) and Sterlite Industries (up 6.7 percent).

Sensex ends marginally higher, ICICI jumps

MARKETS-SOUTHASIA-STOCKS/The stock market seesawed throughout trade today and ended marginally higher at 11,372, as investors covered short positions ahead of the monthly derivatives expiry.

The benchmark had risen over 1 pct during trade, but was unable to sustain it and closed just 42 points higher.

Several corporate houses like Ranbaxy Labs, Oriental Bank of Commerce, Indian Bank and JP Associates announced their quarterly numbers today.

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