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Two firms, Vascon Engineering and Syncom Healthcare made their debut today on the Bombay stock exchange with a premium of 3 per cent and 17.3 per cent, respectively.


Vascon Engineering had fixed an issue price of Rs 165 per share for the issue. Its shares opened at Rs 170 on their first day and rose 5.1 per cent over the issue price to a high of Rs 173.45 on the exchange in Mumbai. Vascon has listed 9 crore shares on the exchange.

Visaka IndustriesLimited (VIL), established in 1981, is the second largest cement sheet manufacturer in India with the total installed capacity of 6,30,000 tonnes. VIL is well diversified company engaged in the manufacture of fibre cement products and synthetic blended yarn. Company has pan india presence with 6 manufacturing plant for asbestos making plants and two manufactring plant for garments.

FUTURE OUTLOOK:- At the current price of Rs 122, the stock is available at 5.54x of its FY09 earnings, 4.10x of its FY10E earnings and 2.79x of its FY11E earnings

Indian market failed to discount strong global cues; Indices faced selling pressure at higher levels and closed on a weak note after trading in a volatile session. SENSEX closed at 15922, down 120 points and Nifty at


4757, down 35 points from the previous close. CNX MIDCAP index was down 0.14% and BSE SMALLCAP index was up 0.10%. Top gainers included HINDALCO, HDFCBANK, STER, HEROHONDA, and GRASIM. Top losers are listed as M&M, SBIN, LT, TATASTEEL and SUNPHARMA.

Simon Brickles and Stephen Hazell-Smith have finally decided to step down after actively running Plus Markets, the former Ofex for five years. The move would pave a way for the new generation to participate in the growth stories of the market amid very challenging times of slowdown.

The government has decided to allow companies that issued foreign currency convertible bonds (FCCBs) before November 27, 2008 to align conversion price as closer to the market price as possible.


The companies will now be able to revise their FCCB conversion price to the level of average weekly high and low share prices of the period of two weeks before the date of issue of securities. The relevant date of issue is determined by the board.

The Euro finally found a bit of respite after the short-term players' buyback but the gains were not significant enough as it still remained close to the nine-month low against the dollar. The meeting of euro zone finance ministers failed to bring in any kind of confidence about the matter of Greece's debt problems. There seems to be no ray of hope in the near future for these problems