UBI lists with 17% premium on BSE

Submitted by Varun Jain on Thu, 03/18/2010 - 21:45
UBI lists with 17% premium on BSE

On Thursday, the BSE saw State-run United Bank of India (UBI) listing with a premium of 17 per cent on the BSE.

The bank's shares opened at Rs 77. This was also its early morning high on the Bombay Stock Exchange, over its issue price of Rs 66.

The stock listed at Rs 74.90, up 13.48 per cent, on the National Stock Exchange. The early morning trade saw a total of 1.79 crore shares of UBI exchanging hands on the bourses. Some 31.64 crore shares have been offered by the company for the public subscription.

The government stake in United Bank, with the listing, has now plunged to 84.2 per cent from the earlier 100 per cent, resulting in stake dilution of 15.8 per cent. The IPO proceeds would be used by the bank to widen its balance sheet and augment capital base.


Tagged with

Miscellaneous

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

© Copyright 2010