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5th December, 2010 ISSUE 3

FinanceclubSTAYING UPDATED IS NOW A B IT EASIER Sensex snaps 3-week losing streak, gains 830pointsThe equity indices notched up their rst weekly gain in four

weeks despite closing with marginal losses on Friday as in-

vestors booked prots following a four-day rally, supported

by an upbeat domestic economic outlook. Foreign institu-

tional investors (FII) have bought a record $29 billion worth

of equities so far in 2010 compared with $17 billion in 2009,

driving up the benchmark Sensex by about 14%.

MOIL IPO subscribed 56.43 timesThe 3.36 crore equity shares' initial public offering of MOIL re-

ceived tremendous response from non-institutional as well as retail

investors.It was subscribed more than 49 times in the portion re-

served for institutions. The portion reserved for wealthy, or high

net worth individuals , was bid 143 times, while the retail portion,

where limit was doubled to Rs 2 lakh per application was subscribed

more than 28 times. Most of the bids were at the top end of the Rs

340-375 a share price band.

The Centre will divest a 10 per cent stake in the company through

the IPO, while the state governments of Madhya Pradesh and Ma-

harashtra will ofoad 5 per cent each.

At the upper end of the price band, MOIL's IPO would be worth

nearly Rs 1,260 crore and at the lower end, it would fetch about Rs1,142 crore.

Edelweiss Capital, IDBI Capital Market Services and JP Morgan In-

dia Private are the book running lead managers to the issue.

ITC shuts cigarette units on uncertainty overwarningsITC, India's top cigarette maker, has stopped production inunits because of lack of clarity about pictorial warnings to

ried on packets starting this month. ITCs shares plunged

per cent in the early trade on BSE after the company said

halted production of cigarettes at all its 5 manufacturing un

Quotes from INVEstors

Price is what you pay. Value is what you get. Warren BuffetBull markets are born in pessimism, grow on skepticism, mature on optimism, and die of euphoria. John TempThe Market is my altar- I am Its God - Anyone want to form an alliance? Rakesh JhunJhunwalaThe worse a situation becomes the less it takes to turn it around, the bigger the upside. George Sorosnvest in what you know. Peter Lynch

Indian economy grows by robust 8.9% in JuSeptember quarter: India's economy grew by a robustper cent in the second quarter (July-September) of 2010

to Rs 11,46,637 crore from Rs 10,53,057 crore in the sa

quarter of 2009-10. The growth rate during the period

picts India as the second fastest growing large economy a

China which registered a growth of 9.6 per cent in the S

tember quarter. Sectors that showed signicant growth

as follows:

Sectors Growth(%)Construction

8.8

Manufacturing 9.8

Transport and Com-

munication

12.1

Financial Services and

Insurance

8.3

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