News

If you missed our coverage, here are our top ten stories of the day.

Rich valuations and the possibility of commodities transaction tax is adding to selling pressure on the counter.

At 10:01 a.m., MCX shares were at 1,413 rupees, up 37.2% in a Mumbai market that was up 1.9%.

According to grey market buzz, MCX shares are likely to list at a premium of Rs 360 per share.

ONGC shares fell 1.9% as LIC helped the government almost complete the sale of 42.77 crore shares.

The auction will take place during normal trading hours even as trading in the stock will continue.

The stock is valued at Rs 330 on 2013 earnings per share (EPS), which is 9-times FY 13 price earnings.

Analysts said the IPO is fairly priced considering the growth prospects of the exchange over 3-5 years.

If you missed our coverage today, here are the top ten stories.

National Buildings Construction Corporation said it will come out with an IPO to offload 10% equity next month.

Most experts say valuations are reasonable considering the growth potential over the next 3-5 years.

MCX, which will become the first Indian bourse to list its shares on an exchange, is offering about 6.4 million shares in the IPO.

Analysts say the 10-30% premium of the IPO can be justified due to the company's higher growth prospects.

Experts said that the volatile nature of the market and the global economic slowdown have prompted companies to stay away from coming out with new issues.

Financial Technologies is the biggest promoter of Multi Commodity Exchange (MCX). The IPO will offer 64,27,378 equity shares of Rs 10 each for sale. At present, total number of shares of MCX are 5,09,98,369 at Rs. 10 each. The offer constitutes 12.60% of the paid-up equity share capital of the company.

India's largest commodity bourse Multi Commodity Exchange (MCX) set a price band of Rs 860 to Rs 1,032 a share for its initial public offering, which could raise up to Rs 663 crore.