Breaking News & Stocks

rakeshmalik · #**221** 14th February 2008, 05:54 AM

RPower falls about Rs 100 a share

Mumbai, Feb 13: Reliance Power, latest entrant in the market from the Anil Ambani Group, continued its downslide for the third day in a row with its scrip registering a loss of almost Rs 100 a share from the issue price of Rs 450.

Reliance power shares today settled at Rs 350.15 a share at the NSE, registering a loss of 1.21 per cent or Rs 4.30 per share from the previous close.

The stock had seen a fall of over 17 per cent from the offer price on Monday, the first day of its trading, which was followed by another decline of about five per cent yesterday.

At the BSE, the performance was relatively better with a fall of 0.89 per cent of Rs 3.15 a share in today`s trade with the shares closing at Rs 351.40.

The stock hit its lowest level of Rs 332.50 in the intra-day trade at the BSE, while it rose to a maximum of Rs 366.75. At the NSE, it rose to an intra-day high of Rs 368.65 and a low of Rs 333.

The stock had opened on a positive note at Rs 360.05 at the BSE and at Rs 365 at the NSE, in line with the bullish sentiments across the market, but could not sustain at the higher levels.

Close to four crore shares changed hands at the two bourses. The company had raised close to Rs 11,560 crore in the country`s biggest ever IPO last month, which was subscribed over 70 times, generating demand worth about Rs 7,50,000 crore.

While heavy selling pressure was seen across the market on Monday, the Sensex had ended nearly flat yesterday, even as Reliance Power continued its downslide during both the trading sessions.

The market benchmark Sensex rose 341.13 points, or 2.05 per cent, to close at 16,608.01 points

Bureau Report

rakeshmalik · #**222** 14th February 2008, 05:58 AM

asia open: strong.Nikkei 225 13,251.86 +183.56 +1.40%

rakeshmalik · #**223** 14th February 2008, 05:59 AM

Raj Thackeray’s arrest and release drama leaves one dead in Nasik

Raj Thackeray was arrested on Wednesday on the charge of instigating people and fomenting trouble sparking violence by his angry supporters in Mumbai and a few towns in Maharashtra in which a HAL employee died when stones were pelted at a staff bus.

apprentice · #**224** 14th February 2008, 09:34 AM

" Punj Lloyd unit wins $282 mln S'pore contract "

uasish · #**225** 14th February 2008, 09:41 AM

apprentice,

Do you feel that any news on a stock is valid enough reason for the stock to rise,if so why dont you verify the past impact of news on Price ;in both bullish & bearish phase.
We would be eager to know your findings.
The habit of posting the same mssg in multiple threads is not good.

Asish