Timbor Home has subscribed 5.78 times

The IPO of Timbor Home, a manufacturer-retailer having a pan-India presence with more than 80 exclusive stores of kitchen, has received tremendous response from investors on last day.

The issue has subscribed 5.78 times, as per data available on NSE. It has received bids for more than 2 crore equity shares as against issue size of 36.9 lakh equity shares.

Retail investors were the leading participants in the issue. Their portion was subscribed 14.22 times, with receiving bids for more than 1.8 crore shares as against reserved portion of 12.9 lakh shares.

Nifty hits 5600

Indian equity market bounced back smartly on Friday and recovered all their yesterday's losses. The Nifty has touched the 5600 level - at three-week high. ADAG shares played a big rose - short covering pulled the markets higher.
At 9:36 hours IST, the 30-share BSE Sensex gained 156 points at 18,650 and the 50-share NSE Nifty jumped 48 points to 5,598.

Cheap Food Disappears BPL

Sonia Gandhi’s National Advisory Council (NAC) wants to bring in a Food Security Act which will entitle 75% of the population to subsidised grain. Here’s the bad news: most of it will be money down the drain.

Reason: Very little of the grain earmarked for the poor actually reaches them. And we can’t blame it on the rats. Grain meant for the poor is being sold to the not-so-poor or black marketed elsewhere.
Read the full story of:  Choo mantar: cheap food disappears below poverty line

Good-Baba, Bad-Baba

While UPA ministers are bending over backwards in their efforts to persuade Baba Ramdev to drop his fast-unto-death against corruption, the Congress party is posturing as if it couldn’t care less about the spiritual guru’s threat.

In fact, statements coming from some Congress leaders suggest that the leadership does not approve of the manner in which the government rolled out the red carpet and all but publicly capitulated before the Baba by sending a high-powered delegation of senior ministers and top bureaucrats to the airport to receive him

National Housing Bank is all set

The National Housing Bank is all set to introduce provisioning requirement for standard asset individual home loans. The move comes in as NHB feels that going forward there could be defaults in the housing loans space.

Following the news, the housing stocks took a hit.

Company Name	Last Price	Prev. Close	Change	% Change
Can Fin Homes	113.95	115.6	-1.65	-1.43
Dewan Housing	235.5	243.95	-8.45	-3.46
HDFC	681	688.2	-7.2	-1.05
LIC Housing Fin	230.85	234.05	-3.2	-1.37

Analysts believe that this may not have an immediate impact on housing loan companies because they have been prudently making higher provisioning or extra provisioning on their entire loan book.