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SCOPE advise state run firms against flooding market with IPOs
Standing Conference Of Public Enterprises (SCOPE), the apex industry chamber for state-run firms, has advised members against flooding the market with their IPO offerings -- expected in the face of the government planning to list all profit-making public sector enterprises.

Religare plans $500-million pan-Asia fund
After venturing into the private equity (PE) space earlier through a joint venture, financial services provider Religare is now planning to go solo.

News of the day

Asian stocks rise on yen, outlook for chip demand
Asian stocks rose, pushing the MSCI Asia Pacific Index to its biggest gain in almost three weeks, as the weaker yen boosted the earnings outlook for Japanese makers of electronics and cars and as Hong Kong-listed banks advanced.
Business Opportunities

Sensex lacklustre; Sun Pharma down 2%

The Sensex is exhibiting lacklustre movement and is now at 17,394, up 34 points. The BSE power and the metal indices are firm at 3,167 and 17,459, respectively. Jan cement sales in high double-digit Reliance Infrastcruture is the major gainer on the Sensex, up 3% at Rs 1,132. Hero Honda, Bharti Airtel and ICICI Bank have added 1.5% each at Rs 1,766, Rs 325 and Rs 875, respectively. The other prominent gainers are NTPC, Tata Steel and Tata Power, up 1% each. Sun Pharma is the prominent loser on the Sensex, down 1.5% at Rs 1,541. HDFC Bank, ONGC, Wipro and TCS have declined 0.5% each. The marke breadth is positive, out of 2,482 shares traded, 1,733 have advanced and 673 have declined so far on the BSE.


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