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Cues from Asian market, RBI worries drag Sensex
Markets opened weak this morning following cues from the Asian markets. The Securities and Exchange Board of India’s (Sebi’s) move against Reliance also dampened the sentiment. The stock slipped below the Rs 1,000-mark in early trades. http://smallpersonalloans.org.uk

Yash Raj Films to make TV content for Sony Entertainment
Yash Raj Films (YRF) has formally announced its entry into the television space, by joining hands with Sony Entertainment Television (SET), a leading Hindi genereal entertainment channel. As part of the deal, YRF will produce exclusive fiction and non-fiction content for SET.

News of the day

Novartis gains on hopes of flu vaccine order
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
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Astec LifeSciences IPO price fixed at Rs 82

Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band. - Cox & Kings fixes IPO price band at Rs 316-330 - Expensive formulation - Astec fixes price band between Rs 77 and Rs 82 - Pipavav Shipyard fixes IPO price at Rs 58 - Oil India IPO price fixed at Rs 1,050/share - Oil India IPO price fixed at Rs 950-1,050 a share The company entered the capital market on October 29 with a public issue of 75,00,000 equity shares of Rs 10 each and a price band of Rs 77 to Rs 82 per equity share. The issue, which was made through a 100 per cent book building process, has been oversubscribed 1.55 times, the company said in a statement here. The book-running lead manager of the IPO is Almondz Global Securities. The objective of the IPO is to raise funds for the company’s expansion plans for its production and research and development units in Maharashtra. Astec plans to expand the production capacity of its unit in Mahad from the current 2,800 metric tonnes to 3,950 metric tonnes. The company will also upgrade its research and development facility at Dombivli near here that would enable it to carry out research on more complex molecules and to undertake contract research activities. The proceeds of the IPO would also be utilised to register two products in Brazil and six products in the country.


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