MT Educare hits upper circuit, rises 13%

Shares of education support and coaching services provider MT Educare hit upper circuit on the listing day, shooting up 12.94% to Rs 90.35 as against issue price of Rs 80.

Traded volume on both exchanges was more than 18 lakh shares. The equilibrium price for a share has been decided at Rs 86.05; accordingly the upper circuit stands at Rs 90.35 and lower circuit at Rs 81.75.

The public issue had opened for subscription during March 27-29, through which the company raised Rs 99-crore. The issue had comprised of fresh issue of Rs 35 crore and an offer for sale of 80 lakh equity shares by Helix Investments Company.

Big quake strikes off coast of Indonesia

A massive earthquake struck off the coast of the Indonesian island of Sumatra on Wednesday, triggering a tsunami alert for the Indian Ocean.

The quake struck about 430 kilometers from Banda Aceh, the capital of Indonesia's Aceh province, and had a magnitude of 8.7, the U.S. Geological Survey said. It took place at a depth of 33 kilometers.

The Pacific Tsunami Warning Center said it had issued a tsunami watch for the entire Indian Ocean, and the Indonesian Meteorology, Climatology and Geophysics Agency said it had put up a tsunami warning.

The power has gone out in Banda Aceh and residents are moving to higher ground, said Sutopo Purwo Nugroho, a spokesman for the Indonesian National Disaster Management Agency.The extent of the damage is still being assessed.

In 2004, a 9.1-magnitude underwater earthquake struck off the coast of Sumatra, triggering a tsunami that killed more than 200,000 people in 14 countries. Aceh was one of the worse affected areas.The tsunami, which washed away entire communities, caused nearly $10 billion in damage and more casualties than any other tsunami in history, according to the United Nations.

Indonesia is on the so-called Ring of Fire, an arc of fault lines circling the Pacific Basin that is prone to frequent earthquakes and volcanic eruptions.

After Indonesia earthquake, tsunami alert and tremors in India

A tsunami of between three to six metres is expected to hit the Nicobar Islands after an earthquake, measuring 8.7 on the Richter scale hit Indonesia.  A tsunami alert -which is less serious than a warning  - has also been issued for the Eastern coast of India, the Andaman Islands, Andhra Pradesh and Tamil Nadu. 

The Pacific Tsunami Warning Center said an Indian Ocean wide tsunami alert was in effect.
The quake was felt in Singapore, Thailand and India. High-rise apartments and offices on Malaysia's west coast shook for at least a minute.

In India, tremors were reported  in Mumbai, Kolkata, and the southern part of Chennai.  The tremors lasted for a few seconds.  In Bhubaneshwar, people were seen running out of their homes and offices.  No damage has been reported so far.

NDTV viewer AG Kalidass emailed from Bangalore to say, "We were feeling our building shaking."  Another viewer Shyam Agarwal writes, "I am from Kolkata. Just now a few minutes back heavy stroke of earthquake has been observed here."

The U.S. Geological Survey said the powerful quake was centered 20 miles (33 kilometers) beneath the ocean floor around 308 miles (495 kilometers) from Aceh's provincial capital.
Indonesia straddles a series of fault lines that makes the vast island nation prone to volcanic and seismic activity.

A giant 9.1-magnitude quake off the country on Dec. 26, 2004, triggered a tsunami in the Indian Ocean that killed 230,000 people, nearly three quarter of them in Aceh

Earthquake in Indonesia, Tsunami warning in 28 countries

An earthquake of 8.9 on Richter scale has struck Indonesia. Tremors have been felt in Chennai, Bangalore, Pune and Kolkata.

Indonesia issued a tsunami warning after the huge magnitude earthquake off its westernmost province Aceh, leading panicked locals to scramble out of their houses to seek refuge.

The Pacific Tsunami Warning Center said an Indian Ocean wide tsunami alert was in effect, after a quake that the US Geological Survey said was 308 miles southwest of the province's capital Banda Aceh.

The quake was felt as far away as Singapore, Thailand and India.

The province was devastated by a 2004 tsunami that left 170,000 dead or missing, and that in total killed about 230,000 people in 13 Indian Ocean nations.

13 IPOs called off in 2012

13 IPOs has already called off in 2012, says Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities Limited.

1. The year 2012 has already seen call-off of 12 IPOs. The probable amount that these 13 IPOs were planning to raise was to an aggregate of Rs 5,603 crore

2. The list of the 13 companies who have called-off their IPOs during 2012 include: Micromax, Embassy Property, Joyalukkas, Lokmat Media, VRL Logistics, Aravali Infrapower, Semantic Space Technologies, etc

3. This is in addition to the call-off of 29 companies during 2011 calendar year. The probable amount that these 29 companies were planning to raise was to an aggregate of Rs 32,400 crore.

4. So, starting 1st January 2011 till date, about 42 IPOs were called off. The total amount they were expected to raise was about Rs 38,001 crore.

5. All these 42 companies had valid SEBI approval in hand for their IPOs. Even then, they couldn't open their IPOs within the validity period of one year from the date of SEBI approval.

6. This surely will impact the Indian corporates ability in fund raising to finance their expansion projects resulting in slow down in capacity building and job creation.

7. Further, the government's disinvestment program which was supposed to bring public issues of several blue-chip PSUs couldn't take off. The recent lukewarm response to ONGC auction can also impact the confidence of the public issue market.

8. The secondary market and global liquidity hold key for the future of IPO market.