EXPERTS GIVE 'APPLY' RECOMMENDATION FOR SPICE COMM. IPO
There seems to be a lot of interest in TATA Motors by brokerages. The target for TATA motors is seen at some thing above Rs. 900. Even earlier I had said about this stock, and it had fallen a bit, which might have given an opportunity for traders to buy at lower prices. Other stocks recommended by brokerages are Visa Steel, IPCA Labs with a target of Rs.900, Indian Hotels with a target of Rs.190, City Union Bank with a target of Rs.250, Reliance Communications with a target of Rs.600 and Orchid Chemicals with a target of Rs.390.
Regarding New Issues, the ICICI Bank follow up issue was oversubscribed more than 11.5 times. But it didn’t excite the retail investors much. Foreign Govt. sponsored funds and large funds applied for bulk of the issue. SBI has put a 1.3 billion bid for the issue.
The Spice communication IPO that will open first day of next week, that is 25th June 2007 expects to garner around Rs.523 Crores in the upper band. The price band is Rs.41 to Rs.46 per share. Issue closes on 27th June. A poll conducted by Moneycontrol portal on experts view of this issue got a positive response with majority of the experts advising a buy for this IPO. It is being given a valuation of Rs.60 Plus on listing. Long term investors can expect better earnings. Since it is fairly priced issue even retail investors are showing a lot of interest in this issue. India being the worlds fastest growing cellular phone market, Spice seems to have a bright future. So Happy investing.
Regarding New Issues, the ICICI Bank follow up issue was oversubscribed more than 11.5 times. But it didn’t excite the retail investors much. Foreign Govt. sponsored funds and large funds applied for bulk of the issue. SBI has put a 1.3 billion bid for the issue.
The Spice communication IPO that will open first day of next week, that is 25th June 2007 expects to garner around Rs.523 Crores in the upper band. The price band is Rs.41 to Rs.46 per share. Issue closes on 27th June. A poll conducted by Moneycontrol portal on experts view of this issue got a positive response with majority of the experts advising a buy for this IPO. It is being given a valuation of Rs.60 Plus on listing. Long term investors can expect better earnings. Since it is fairly priced issue even retail investors are showing a lot of interest in this issue. India being the worlds fastest growing cellular phone market, Spice seems to have a bright future. So Happy investing.
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