Market summary 25Feb08

A new week , a new thought and a new hopes .Its been a very important week coming ahead, the main trigger for the sensex the union budget is to be announced on this week. The expectations are very high specially when capital markets are i such a weird condition . The FM is likely and may be keep some thiught in mind about investors and he knows from what fase the investors are going on , the sentiments are hurt and small investor are worried .
Pre budget rally for what everyone is talking about we fear it should remian in talks only and we should be able to see it , atleast hopes are there.
Nikkei jumped very smartly from the monrg trade and was trading almost 300 + points in the monrg , Hangsang seems to be in rangbound with only Indian markets overreating , DOw turned its momentum in the last few minutes of trade to giving the positive closing to the markets .
Indian markets are expected to gain some momentum and be positive till budgets..
REL Power meet on sunday resulted the bonus issue , the bonus is decided out to be 3:5 that was preety well and abv expectation . The stock is ecpected to show some action ahead of that .

HDFC -Cbop merger got approval , ahead of these some other banks that are in similar sector likely to get rerated..these may include Bank of Rajasthan, Dhanalakshmi Bank, IndusInd Bank, City Union Bank and South Indian Bank.
The swap ratio is 1 share of HDFC Bank to every 29 shares of CBoP

IRB Infrastructure is listing on the bourses today....The company has fixed the issue price at the lower end of price band of Rs185-220. IRB Infrastructure offered 51mn equity shares through the IPO, constituting 15.36%of its fully diluted post issue paid-up capital. The issue got subscribed by over four times..
watch out for..

SAIL forms a JV company with Jaiprakash Associates to set up a 2.1mn ton cement plant in Bokaro, with an investment of Rs4.1bn..
BPCL, HPCL and IOC will jointly invest Rs24bn to buy/lease plantations to produce ethanol in Brazil...
BHEL and Nuclear Power Corporation of India are planning to float a JV to take up construction activities for nuclear power plant..
Reliance Energy has approached the Haryana government for an extension of deadline for commissioning a 600-MW power project..
Kalyani group plans to set up a 1mn ton steel plant and a 500MW power plant at an investment of Rs65bn in WB..
ICSA India secures order worth Rs 440mn from Northern Power Distribution Company of AP Ltd, Warangal..
Nifty will take support at 5020 lvls and resis will come at 5250.. lvls..

Have a grt DAY!!!
Tourism Finance is planning a Rs 400 crore equity fund reports Mint. Earlier RBI permitted FII's to increase stake in the company..