8 IPO's hitting the market
Dalal Street is unperturbed by the new IPO's. Ideally when big ticket IPO's arrive on the street, liquidity issues will hit the secondary markets. But given the current Euphoric situation we do not see this as a worthy discussion point. The companies, which are hitting the primary market this week include, Orient Green Power (Rs 900 crore), VA Tech Wabag (Rs 500 crore), Electrosteel (Rs 285 crore), Tecpro Systems (Rs 268 crore), Ashoka Buildcon (Rs 225 crore) and Gallant Ispat (Rs 40.50 crore),Ramky Infrastructure (Rs 530 crore) and Cantabil Retail (Rs 105 crore).
All eyes are on Nifty breaking 6,000 levels today and with out much fan fare Nifty is likely to gap up above 6000 but there might be a small shakeout once the levels are taken out. Trade with caution till the 6000 levels are digested
Following stocks might see intraday movement (to the upside) today.
Zicom Electronic Security Systems Ltd.
Sun Pharma Advanced Research Company Ltd.
Triveni Engineering & Inds. Ltd.
Varun Industries Ltd
PTC India Ltd