The initial public offer of Adani Power, which closed on Friday, got subscribed over 14 times with most of the bids coming in from Institutional Investors.

The issue which has roped in institutional investors like Credit Suisse and T Rowe Price International Inc, received bids for over 350.26 crore shares against 24.87 crore shares on offer, achieving a demand for 14.08 times the shares on offer.

FII and DII activity that was seen on Friday, July 31, 2009 is shown below. The report shows that FII were net buyers of Rs 582.12 crore where as DII saw buyers of Rs 316.11 crore.

Electrical equipment maker ABB Ltd on Friday reported a fall of 36.5 per cent in net profit to Rs 83.60 crore for the second quarter ended June 30.

Total income of the company also dropped to Rs 1,525.87 crore during the April-June period of current fiscal from Rs 1,637.62 crore of the same period last year.

Shares of ABB were trading at Rs 700.60 on BSE, up 1.93 per cent from its previous close.

Anil Ambani group firm Reliance Capital today reported a 56 per cent decline in consolidated net profit at Rs 151.04 crore for the first quarter ended June 30, 2009, as it booked lower capital gains.

Total income also declined three per cent to Rs 1,469.25 crore in the same quarter.

The company said the profit was lower on the back of “lower capital gains booked this quarter as substantial gains likely to be booked later this year from planned stake sale in Reliance Life Insurance.”

As of June 30, the net worth of the company stood at Rs 7,500 crore. The total assets of the company stood at Rs 25,074 crore, an increase of 26 per cent over the same period previous fiscal.

The total premium income in the segment during the quarter increased 20 per cent to Rs 903 crore for the quarter as against Rs 749 crore in the corresponding previous period.

Shares of Reliance Capital closed at Rs 883.85, up 2.61 per cent.

Reliance Communications, India’s second-biggest mobile phone operator, posted an 8.3 percent rise in quarterly profit on Friday.

Reliance communications said its net profit rose to 16.37 billion rupees ($340 million) in its fiscal first quarter ended June, from 15.12 billion in the same period last year.

However the stock fell 2.18% at 275.75

US government report shows the economy sank at a pace of just 1 percent in the second quarter of the year. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.

The Commerce Department says the dip in gross domestic product for the April to June period comes after the economy was in a free fall, tumbling at 6.4 percent pace in the first three months of this year. That was the sharpest downhill slide in nearly three decades.

Many economists were predicting a slightly bigger 1.5 percent annualized contraction in second-quarter GDP. It’s the total value of all goods and services produced within the United States.

Yesterday: Indian Stock Market closed positive with 200 points on the sensex led by short-covering in the bank shares specially ICICI and SBI. The positive global cues were also supporting the market to stay above 4550 on the nifty.

Today: Indian Stock Market is expected to open positive say 40-50 points on nifty. But now 15600 is a big resistive zone for the market & still market up-move is driven by short covering and not because of fresh buying so today is the most important day for the market. Corporate results would play an important role to decide the market direction.

Note: Stocks to trade for intraday, short-term delivery, long term delivery, short selling and Futures and when to exit those stocks would be sent to paid subscribers live during the market hours through SMS.

BSE Sensex: (15388) The support for the Sensex is 15000 and the resistance to the up move is at 15600.

NSE Nifty: (4571) The support for the Nifty is at 4450 and the resistance to the up move is at 4630-4650.

F&O Cues: FII were net sellers of 151 crore in Index Future and sellers of 2 crore in stock futures.

Results to be declared today: Unitech, Aban, GMR Infra, ABB, Dish Tv, Orchid Chem, Adlabs, Suzlon, Tata Power, Rcom, Relcapital, TVS Motor

FII and DII activity that was seen on Thursday, July 30, 2009 is shown below. The report shows that FII were net buyers of Rs 366.81 crore where as DII saw sellers of Rs 286.67 crore.

IPO of Adani Power subscribe almost seven times on the third day of the IPO. Tomorrow is the last day of IPO & present grey market premium is 15rs.

The country’s largest lender, SBI, today reported a growth rate of 42 per cent in net profit at Rs 2,330.37 crore for the first quarter ended June 30, 2009.     

The bank has a net profit of Rs 1,640.79 crore in the same quarter of the last fiscal.

Total income during the quarter rose by 29.8 per cent to Rs 21,041.51 crore from Rs 16,203.07 crore in the same period last year.     

During the quarter, interest income of the bank grew by 26.6 per cent to Rs 17,473 crore from Rs 13,799 crore in the same quarter previous fiscal.     

Shares of the bank were trading at Rs 1,705, up 2.93 per cent on the BSE.

Adani Enterprises today posted an over 36 per cent rise in its consolidated net profit to Rs 127.67 crore for the first quarter ended June 30.

The consolidated total income of the company also rose to Rs 6,389.61 crore during the April-June period of the current financial year from Rs 5,051.80 crore in the same quarter last year.

On a standalone basis, the company registered a net profit of Rs 78.73 crore during the latest quarter of FY10, up by over 17 per cent.

Shares of Adani Enterprises today closed at Rs 827.10, down 0.70 per cent from its previous close on the BSE.

Anil Ambani group firm Reliance Infrastructure on Thursday reported a net profit of Rs 316.57 crore for the first quarter ended June 30, 2009

Total income rose to Rs 2,690.51 crore during the April-June quarter from Rs 2,400.55 crore in the same period last fiscal.

At the end of June quarter, the company’s cash and cash equivalents stood at Rs 9,000 crore, while its EPC order book was at Rs 20,075 crore. The company’s cash profit grew by 22 per cent to Rs 386 crore at the end of June quarter and it infused fresh capital to the tune of Rs 4,300 crore.

Shares of Reliance Infrastructure closed at Rs 1,185.10, up 1.80 per cent

IT education services provider Educomp Solutions on Thursday said its consolidated net profit surged two-fold to Rs 36.27 crore in the first quarter.

Total revenue rose to Rs 209.17 crore in the latest quarter, against Rs 89.12 crore in the same period last year.

On a standalone basis, the net profit of the company jumped two-fold to Rs 36.27 crore in the quarter ended June, 30. Total income rose to Rs 160.34 crore in the quarter under review, against Rs 72 crore in the same quarter previous fiscal.

Shares of Educomp Solutions today closed at Rs 4,064.75 on the Bombay Stock Exchange, down 2.86 per cent.

GMR Infrastructure Limited has informed the Exchange that:

1) The Board of Directors of the Company, in its meeting held on July 30, 2009, accorded approval for sub-division of all its equity shares of Rs.2/- each into 2 equity shares of Re.1/- each (per share), subject to the approval of members of the Company at the forthcoming Annual General Meeting.

2) The Board of Directors has adjourned the Board meeting for consideration and approval of un-audited financial results of the company for the quarter ended June 30, 2009 to July 31, 2009.

The stock of GMR closed at 143.85 closed up by 1.52%.

Yesterday: Indian Stock Market opened flat and went down sharply in the afternoon session mainly due to china market as china government cut Gasoline price and asked financial institution to pull out some percentage of their money from financial system which pulled down all the Asian market.

Today: Indian Stock Market is expected to open flat and would remain highly volatile as today is a last day of F&O expiry. Now the main support to be watched is of 15000 for sensex. If market breaches the level of 15000 for sensex, than we would see new lows in the market.

Note: Stocks to trade for intraday, short-term delivery, long term delivery, short selling and Futures and when to exit those stocks would be sent to paid subscribers live during the market hours through SMS.

BSE Sensex: (15173) The support for the Sensex is 15000 and the resistance to the up move is at 15500.

NSE Nifty: (4513) The support for the Nifty is at 4450 and the resistance to the up move is at 4605.

F&O Cues: FII were net sellers of 1157 crore in Index Future and sellers of 506 crore in stock futures.

Results to be declared today: Adani, DLF, Educomp, SBI, Jain Irrigation, SAIL, Tata Chem, Uco Bank, Voltas, IOCL