Fundamentally Sun TV looks attractive

Fundamentally, it looks attractive; there is no getting away from that. It is trading at 12 PE, I don’t remember Sun TV trading at these kind of multiples. Having said that, you can get a bump up in the stock because it has fallen quite a bit, 35% or so in the last few days, that is a big cut in the largecap name and it is ripe for some technical bounce.

Yesterday’s fall was clearly aggravated by the pledge shares, which are sold by IFCI. And that might have added to the delivery based pressure on the counter. These regulatory hangovers or scam hangovers can affect a stock, however good the stock might be. So, it will be a brave call to go out and buy Sun at this point and a lot of institutions may not want to do that.

Also read: Maran is history, will succumb to 2G charge, says N Ram

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