Tijaria Polypipes surges 13% on debut

Shares of Tijaria Polypipes , a plastic pipes manufacturer, surged 13% in the opening trade to hit a high of Rs 67.75 on the National Stock Exchange. But, it could not hold those gains for long. It slipped to near its issue price of Rs 60 a share and was hovering around the same.

Total trade volume on both exchanges was nearly 72.6 lakh equity shares as against issue size of one crore shares.

Tijaria Polypipes manufactures high-grade HDPE, MDPE and LDPE plastic pipes and sprinkler systems under the brand names of Tijaria and Vikas. At present, the company has an installed manufacturing capacity of 20,664MT HDPE pipes, 7,392MT PVC pipes and 7,200MT of PET flakes & granules per year. Its products are used in irrigation, telecommunication, industrial, infrastructure and housing sectors.

The company now proposes to expand its current manufacturing capacity and diversify into the manufacturing of polyster zippers long chains, mink blankets & PET sheets and also proposes to manufacture the raw materials required for it. The company will manufacture partially oriented yarn (POY), draw texturised yarn (TY) and monofilament yarn all under one roof. The company plans to set up two new units at industrial areas of Rajasthan Industrial and Investment Corporation (RIICO) at Ramachandrapura and Sitapura Extension, close to Jaipur.

The total project cost is estimated at Rs 108.52 crore. For implementing the new project the promoter group has contributed Rs 8.52 crore as equity capital and the company has arranged a term loan of Rs 40 crore from banks. The company raised Rs 60 crore through the issue.

Sensex gains 100 pts

The Nifty jumped above 5100 level post announcement of September inflation numbers, which stand at very high levels, but have not risen from the August levels. The 30-share BSE Sensex rose 105 points to 16,989.17 and the 50-share NSE Nifty gained 26.5 points at 5,104.30. Major buying was seen in technology, oil & gas, power, capital goods, auto (barring Maruti), FMCG and banks stocks were leading the market higher.

Inflation for the month of September came in at 9.72% as against 9.78% in previous month, which was on expected lines. CNBC-TV18 poll saw it at 9.7%.

TCS was the leader among largecaps, gaining over 2%. Other largecaps like Reliance Industries, NTPC, BHEL and Wipro gained more than 1.4%.

ONGC, ITC, Bharti, Infosys, SBI, ICICI Bank and HUL moved up 0.7-1%. Jindal Steel was top gainer, rising 4%.

However, the sell-off continued in Coal India, DLF, Tata Steel, Sesa Goa and Maruti, which fell 2-5%. SAIL, Cipla, Sterlite, Hindalco, JP Associates, Reliance Infrastructure and Reliance Communications slipped 0.5-1%. HDFC and HDFC Bank were marginally lower.

The market breadth was mixed; about 682 shares advanced as against 649 shares declined on National Stock Exchange.

At 10:49 hours IST : Nifty hovers around 5078; Coal India, Sesa Goa plunge

The NSE benchmark was hovering around its previous closing value of 5078. Buying was seen in technology, FMCG, oil & gas and power stocks while metal, realty and HDFC group companies' shares were on sellers' radar. The 30-share BSE Sensex was trading at 16,943.06, up 59 points and the 50-share NSE Nifty was trading up 14 points to 5,091.6.

Portfolio manager PN Vijay feels that Indian stocks look very attractive for the long-term, but the market sentiment needs to improve for a genuine bull rally.

Heavyweights Reliance Industries and ONGC were trying to maintain positive trend on the market, gaining 0.5-0.7%.

JSPL surged nearly 3% after seeing sell-off in yesterday's trade. Technology space continued to trade higher for the third consecutive session after Infosys' Q2 results. TCS, Infosys, Wipro and HCL Tech were up 0.5-1%.

Even FMCG space was quite supportive - ITC and HUL rose 0.7% each. From the power pack, NTPC and Tata Power moved up 1% each.

SBI, BHEL, L&T and ICICI Bank were flat in trade - these stocks were playing a part in today's volatility.

However, metal stocks were under pressure. Coal India, Tata Steel and Sesa Goa tanked 3-4.5%. SAIL, Sterlite and Hindalco were down 1-1.7%.

From the realty space, DLF plunged 3.5%. Maruti Suzuki has remained on bears' radar due to labour problems at its Manesar plant, falling 2%.

About 616 shares advanced as against 636 shares declined on National Stock Exchange.

At 9:20 hours IST : Sensex volatile; metals & banks down, IT & FMCG gain

Indian equity benchmarks opened marginally lower, as they continue to consolidate for the second consecutive session. Benchmarks were hovering around their previous closing values. Metal and banking stocks were under pressure while technology and FMCG stocks were on buyers' radar.

Among frontliners, Sesa Goa, Hindalco, Tata Steel, Sterlite, SAIL, DLF, Coal India, SBI, ICICI Bank, Axis Bank, L&T and Maruti were down.

However, ITC, HUL, Grasim, Reliance Industries, Tata Power, NTPC, Bharti Airtel, TCS, HCL Tech, Infosys and Wipro were supporting the market.

New listing - Tijaria Polypies rallied 5% to Rs 63 a share on Day 1.

WWIL gained 2%. Dish TV and Hathway Cable were up nearly 1%.

Balaji Tele gained 4% ahead of quarterly results. BILT surged 3%.

Century Textiles rose 3% as there were reports that company may merge its cement business with Ultratech.

However, AP Paper lost 3% post disappointing second quarter results.

Kingfisher Airlines lost 3% as HPCL said it has suspended fuel supplies to Kingfisher in Delhi.

Dhanlaxmi Bank and Jubilant Foodworks were down 1.5%.

CRISIL touches 52-week high

CRISIL touched a 52-week high of Rs 945. At 11:37 hrs the share was quoting at Rs 920, up Rs 98.40, or 11.98%. 
 
It was trading with volumes of 163,076 shares, compared to its 5-day average of 3,715 shares, an increase of 4,289.66%. 
 
In the previous trading session, the share closed up 2.42% or Rs 19.45 at Rs 821.60.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	795.10	920.00	124.90	15.71
5-Days	791.90	920.00	128.10	16.18
7-Days	791.90	920.00	128.10	16.18
15-Days	840.05	920.00	79.95	9.52
1-Month	833.57	920.00	86.43	10.37
3-Month	728.12	920.00	191.88	26.35
6-Month	697.02	920.00	222.98	31.99
9-Month	602.20	920.00	317.80	52.77
1-Year	602.29	920.00	317.71	52.75

Dream park in Noida

The 33-acre Dalit Prerna Sthal or the Ambedkar Park in Noida, the pet project of Uttar Pradesh Chief Minister Mayawati, will be inaugurated on Friday. Mayawati spent a staggering Rs 650 crores to put up the park.

Preparations are on for the grand ceremony that takes place on Friday evening. Mayawati will arrive by a helicopter.

The park has 24 pink sandstone elephants, the electoral symbol of BSP, 12 life-size statues of Ambedkar, Kanshi Ram and the UP Chief Minister herself!

The estimated cost of each statue is over Rs 6 crore and each elephant statue Rs 70 lakh of public money. In fact Mayawati spent Rs 2500 crores on five such major parks across UP. But this memorial to Ambedkar has had a chequered history.

In September 2009, a Supreme Court committee recommended putting a halt on the constructions as the project did not have an environment clearance.

In December 2010, the Supreme Court gave a green signal to Ambedkar Park saying the park is not on forestland.

Environmentalists had alleged the project led to ravaging of Noida's green belt and the loss of 6000 trees. And to make matters worse the concrete park came up right next to Okhla Bird Sanctuary that caused the activists to cry foul.

Despite its troubled past, finishing touches are being given to the park before its grand inauguration.

And then there are those who argue that a poor state like Uttar Pradesh should not be spending public money on such opulent parks.

SC stays 26/11 attacker Ajmal Kasab's execution

New Delhi: The Supreme Court on Monday stayed 26/11 accused Ajmal Kasab's execution and issued a notice to the Maharashtra government on his plea. Kasab's execution has been stayed till amicus curae report is heard. The Supreme Court will hear Kasab's case regularly from January 31, 2012.

The apex court has asked the state government to reply to Kasab's plea. No specific time frame has been set for the Maharashtra government to reply, but the court stressed on the fact that the case would be dealt with expeditiously.

While passing the order, the judge said that the case has to be decided on a top priority basis, adding that after such acts Kasab does not deserve an appeal.

The case is in its preliminary stage in the Supreme Court. Around three to four months back, the court first heard Kasab's case in which most documents were in Marathi and it asked the governnment to come back with the documents translated in English.

Special Public prosecutor Ujjwal Nikam said that since this was a judicial process no specific time frame can be set.

It has also appointed Raju Ramachandran as the amicus curae.

Kasab was convicted on the charges of criminal conspiracy, waging war against the nation and murder. Kasab, the sole convict in the case, has filed the petition through jail authorities in the apex court which has appointed senior advocate Raju Ramachandaran as amicus curie to assist it in deciding the appeal.

On September 2, the apex court had agreed to hear the plea of Maharashtra government against the acquittal of two accused Faheem Ansari and Sabauddin Ahmed in the 26/11 case.

It, however, had refused to pass any order on Kasab when the state government pleaded that his letter to the Supreme Court challenging his death sentence should be tagged with this appeal.

"We are taking a step regarding this (Kasab's letter)," the bench had said.

The Bombay High Court had in its February 21 verdict upheld the trial court order of death sentence of Kasab for the 'brutal and diabolical' attacks aimed at 'destabilising' the government.

Kasab's death penalty was upheld on charges of criminal conspiracy, waging war against the nation, IPC section related to murder and under sections of Unlawful Activities (Prevention) Act.

The Bombay High Court had also upheld his conviction on 19 counts under IPC, Arms Act, Explosives Act, Explosive Substances Act, Foreigners Act, Passport Act and Railway Act.

The trial court had acquitted Faheem and Sabauddin.

Kasab, the sole 26/11 terrorist captured alive, had been sentenced to death by a special anti-terror court on May 6 last year.

He and his accomplices had landed at Budhwar Park in South Mumbai on November 26, 2008 night from Karachi by sea and went on a shooting spree at various city landmarks, leaving 166 people dead and many more wounded.