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In most of the cases investors money is not refunded properly even after allotment of the shares.so lots complaints are there. to resolve this SEBI is planning to change the rules on IPO money. this will be helpful to retail investors.According to new rules companies have to collect the IPO money after allotment of the shares for retail and other investors,SEBI chairman Bhave said “we hope that the pilot projects will start by end of Augest month.If the pilot project succeeds then we will rollout all over the country” he said

Allahabad Bank’s (ALB) Q1FY09 results have surpassed our expectations with net profit coming in at Rs934 million against our estimate of Rs344 million, led by robust asset growth.

Mukesh Ambani controlled Reliance Industries (RIL) fears that gas supplied to Reliance Natural Resources (RNRL), belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL.

Market Review for 28th July 2008

Prakash Gaba : Certified Financial Technician and a Trader

A Choppy market and hardening interest rates may have taken the sheen off bank stocks. But that hasn’t put off deal makers. Federal Bank, a Kerala-based private sector bank, has bought 5% shares of Catholic Syrian Bank (CSB) and is in the process of winning the support of other CSB shareholders to go for a full-fledged takeover. Federal Bank is said to have acquired these shares at Rs 250-300 per share. CSB is a small, unlisted private bank, also based in Kerala.

KOCHI: Geojit Financial Services today approved a 70 per cent dividend for 2007-08, against 40 per cent approved in the previous year. This would result in a payout of Rs 17.11 crore including the Dividend Distribution Tax. The AGM, presided by company Chairman A P Kurien, took the decision.

The five-day rally in the stock markets that bracketed the confidence motion in the Parliament must have excited investors. But it’s the the dips seen during Thursday and Friday that tell us of the uncertainty that still remains.

RBI’s quarterly policy review is due on Tuesday, the 29th of July. Inflation continues to be at 12% level and we see some deceleration in growth numbers of Indian corporates. RBI policy officials have gone on record to say,

CRISIL has assigned a CRISIL IPO Grade 2/5 to the proposed initial public offer of Neoteric Infomatique Ltd (Neo). This grade indicates that the fundamentals of the issue are below average relative to other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The offer price for the issue may be higher or lower than the level justified by its fundamentals. The grade is not a recommendation to buy / sell or hold the graded instrument, the graded instrument’s future market price or its suitability for a particular investor.