Weekly outlook 21/02/2010

Weekly outlook 21/02/2010 Without doubt, next week will be action-packed for the Indian markets.Apart from Railway Budget, Economic Survey and Union Budget, we will also have to grapple with the F&O expiry and of course Q3 GDP figures.To add to the anxiety would be newsflow from the external front, which of late has been exerting quite an influence on the overall market sentiment. Talking of global markets, China will resume trading after a long holiday. The surprise hike in reserve ratio just before the holiday started and the Fed move to raise the discount rate could weigh on that market. Not much data is expected from China next week.On the other hand, a lot of economic reports are due from the US next week, including a spate of data on housing and revision in third quarter GDP. Coming back to India, the main focus will be on Budget and what the two Bengali ministers have in store for all concerned. One thing is sure they can't afford to be too populist this time around. They better not, as the economy is at a crucial juncture and any further slippage in policy making could hurt its prospects going forward. A broad consensus that is emerging on the Budget is that there will definitely be a partial rollback of fiscal stimulus, besides articulation of a roadmap to return to the path of fiscal prudence.One should also watch out for announcements on disinvestment, GST rollout, 3G auction and the Centre's estimate of market borrowings. Given the spiraling inflation, we expect the Government to try and address growing concerns on this front as well. Speaking of sectors that might gain from the Budget, the usual suspects are Infrastructure, Education, Fertilizers, Textiles,Agriculture, etc. ----- United Bank of India - IPO ----- United Bank of India is a public sector banking institution with branches in 28 States and in 4 Union Territories in India. The Bank is currently wholly-owned by the Government of India. As of December 18,2009, they had 1,484 branches, 265 ATMs, 28 regional offices and 11 extension counters. United Bank is in the process of opening a representative office in Dhaka, Bangladesh. As of December 18, 2009,company had a workforce of 15,813 employees (including part-time employees). United Bank of India is one of the 14 banks which were nationalised on July 19, 1969. United's business is principally divided into retail banking,corporate / wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution, pension and tax collection services. Their retail banking business provides financial products and services to retail customers. United Bank provide loans and advances for housing, trade, automobiles, consumer durables,education, personal loans and other retail products. Also they provide commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. They offer direct financing to farmers for production and investment, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. In Fiscal 2009, company made a net profit of Rs. 358.55 crore and had net assets of Rs. 61,500.78 crore and net worth of Rs. 2,537.83 crore.As of September 30, 2009, they made a net profit of Rs. 231.10 crore and had net assets of Rs. 71,952.25 crore and net worth of Rs.2,769.87 crore. They have experienced growth in deposits and advances,with deposits growing at a compounded annual rate of 21.1% during the last five fiscal years and net advances growing at a compounded annual rate of 32.8% during the same period. The objects of the Issue are: 1. To augment capital base to meet the future capital requirements arising out of the growth in their assets due to the growth of the Indian economy; and 2. For meeting the expenses of the Issue. Issue Detail: »» Issue Open: Feb 23, 2010 - Feb 25, 2010 »» Issue Type: 100% Book Built Issue IPO »» Issue Size: 50,000,000 Equity Shares of Rs. 10 »» Issue Size: Rs. 300.00 - 330.00 Crore »» Face Value: Rs. 10 Per Equity Share »» Issue Price: Rs. 60 - Rs. 66 Per Equity Share »» Market Lot: »» Minimum Order Quantity: »» Listing At: BSE, NSE ----------- IPO Listing - Aqua Logistics Ltd ----------- Aqua Logistics Ltd IPO will list on Tuesday, February 23, 2010. Issue price of this IPO has been fixed at Rs 220/- per share. Aqua Logistics IPO subscribed 1.94 times(3.0002 times in retail). IPO Listing Detail Listing Date: Tuesday, February 23, 2010 BSE Script Code: 533159 NSE Symbol: AQUA Listing In: B Group ISIN: INE544K01018 Issue Price: Rs. 220.00 Per Equity Share Face Value: Rs. 10.00 Per Equity Share ----------- IPO Listing - DB Reality Ltd ----------- DB Realty Ltd IPO will list on Wednesday, February 24, 2010. Issue price of this IPO has been fixed at Rs 468/- per share. IPO was oversubscribed by 2.95 times (0.3658 times in retail). IPO Listing Detail Listing Date: Tuesday, February 24, 2010 BSE Script Code: 533160 NSE Symbol: DBREALTY Listing In: B Group ISIN: INE879I01012 Issue Price: Rs. 468.00 Per Equity Share Face Value: Rs. 10.00 Per Equity Share Website inauguration offer...! 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