Fwd: Today's Exclusives - IPO manipulation continues, recent offerings exhibit extreme volatility and five out of seven IPOs listed in October hit their extremes today

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From: Moneylife <noreply@moneylife.in>
Date: Mon, Oct 24, 2011 at 8:16 PM
Subject: Today's Exclusives - IPO manipulation continues, recent offerings exhibit extreme volatility and five out of seven IPOs listed in October hit their extremes today
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24 October 2011   Moneylife Exclusive IPO manipulation continues, recent offerings exhibit extreme volatility and five out of seven IPOs listed in October hit their extremes today Moneylife Digital Team The IPO market has again become a happy hunting ground for manipulators. Out of the seven offerings (most graded with 'below average' fundamentals) listed this month, three hit their all-time lows today, while two others hit their all-time highs. When will the powers-that-be step in?     Exclusive Column     Corporate Accounts: Accounting substandard R Balakrishnan Companies are able to hide more than they reveal and auditors are strangely comfortable with that...       Other ML Exclusives   Diwali purchases: Here's a dream wish-list with items that will last forever For this Diwali, look beyond pressure cookers, frying pans and 3D TVs. Here is a list of items that'll last you a lifetime—and these gifts to yourself will keep on giving... ............................................................................................................................................. For a peaceful Diwali, silence those firecrackers and have a blast Anti-noise activists say that people burst dangerous firecrackers violating anti-pollution laws during Diwali; it's high time people understand the hazards and celebrate the festival with lights, not noise... .............................................................................................................................................. Daily Market Report: Share prices still in no-man's land The Nifty may move in the range of 4,990 and 5,160... .............................................................................................................................................. 'Adarsh' of Vishakhapatnam: AP bigwigs busy gobbling up huge tracts of land below market value in notified areas Former senior bureaucrat EAS Sarma urges MoEF to take action, or says that concerned files may disappear. He has also filed an RTI application. These environmental violations have taken place in coastal regulation zones, but 'deemed' permission has been obtained from authorities... .............................................................................................................................................. Occupy Wall Street: Protestors are actually saviours of capitalism Marching against corruption in India is akin to marching against corporate fraud in the US. Civic activism across the globe is taking place because the youth want more transparency and fairness in the system... .............................................................................................................................................. Life Insurance: iSecure—Loan and more Decreasing cover for loans; increasing cover for term life... .............................................................................................................................................. Old-age homes: What should you look out for? Old-age or retirement homes are still a nascent concept in India. Here are a few guidelines on what you should examine before you shift into one of them... .............................................................................................................................................. Has MFIN, one of the self-regulatory bodies in Indian microfinance, been accountable for its actions and statements? The MFIN enquiry initiated in February 2011 (on governance & transparency) is still not in the public domain. The MFIN-sponsored NCAER study, that suffers several serious shortcomings, makes one wonder whether MFIN can function as an objective association—without conflicts of interest—and as an effective self-regulatory body for Indian microfinance... .............................................................................................................................................. Used Cars: Resale Values Crash There are no takers for pre-used luxury petrol-driven cars... ............................................................................................................................................. ULIP: ICICI Pru Elite, ULIPs for the Rich Ticket size is Rs2 lakh and Rs5 lakh... ............................................................................................................................................. Personal finance today - Oriental Bank of Commerce, SBI Card launch co-branded credit card - Value of cheque transactions down 8.3% in August, says RBI - CBEC to cross-check e-filing with past records   ON STANDS NOW At a Glance   - 2G case: Kanimozhi pleads for bail - Cash-for-vote scam: HC releases Amar Singh on bail - India to grow faster than China in 2013: E&Y report - Steel producers seeks 'deemed credit' on local scrap units - Etisalat to contest charges against Indian unit in 2G case   Corporate Wrap-up   - Tata Motors unit strengthens customer support initiatives - Godrej Properties Q2 net profit dips 41% to Rs19.5 crore - 3i Infotech Q2 net profit plunges 61% to Rs25.24 crore Moneylife Columns     MFIN-NCAER study: Here's the proof that microfinance agents are thriving in Tamil Nadu Ramesh S Arunachalam The MFIN-sponsored NCAER study has acknowledged the role that microfinance agents are playing in places like Hyderabad and Jaipur. Curiously, Chennai does not find a mention in this study. Here's some concrete evidence to the contrary...     It's time to save democracy from oligarchy Karan Kharb The biggest problem with Indian democracy is that it has been hijacked by a few families and groups who have converted parties into their fiefdoms. Consequently, democracy has slowly dissipated, giving way to oligarchy. This must change for better governance...       Face 2 Face   Bharti AXA General Insurance: "Critical illness product helps to make health insurance comprehensive" Bharti AXA launched its SmartHealth critical illness product a few months ago which covers 20 critical illnesses at a reasonable premium. The company has also filed an application with IRDA for allowing a mediclaim product with lifelong renewal. Subrahmanyam B, vice president & head, health-vertical, commercial lines & risk engineering, Bharti AXA General Insurance, talks about his company's current and future prospects:..   Editor's Pick   US market returns: Happy returns? Not exactly In real (inflation-adjusted terms) US stock investors have made effectively no money, even with dividends—since the spring of 1998. ...................................................................................................................................................... EU meet makes a little progress But they will not dip into ECB funds. ...................................................................................................................................................... Guess where Europe can take cover? Nordic banks are the best bet. ...................................................................................................................................................... Google tweaks signed-in data search, SEOs cry foul If you are signed into Google, then any search will be through a Secured Socket Layer, and will not pass search term 'referrer' data. SEOs say that this is how the Internet search giant is ensuring that it is paid for referrer data. ...................................................................................................................................................... Budget airlines get their high from South-east Asia A number of new, swank Asian airports are running at overcapacity. ...................................................................................................................................................... Cartoon of the week 'Better Red than dead' is the new tune being played out.     Book Review   The Little Book of Trading: Traders' Tales Debashis Basu A disappointing collection of traders' profiles...   FROM the ARCHIVES   IPO manipulation is back with a bang. Five firms with one director, and a profit of nearly Rs9 crore M and B Switchgear, with 'below average' fundamentals, closed at a premium of 71% after falling 34% from its listing price on 20th October. Five firms controlled by a common director seem to have made a consolidated profit of Rs8.41 crore from the opening day's trading alone ... ...................................................................................................................................................... Discontinued ULIPs renewal okay by IRDA: Both insurer and insured stand to gain IRDA's directive is a good option for the insured, but why was it omitted in the new ULIP guidelines in the first place? Will IRDA bring back 'cover continuance' too? The industry gains—ULIP revival benefits a life insurance company due to capped surrender charges coupled with the fund management charge of 0.5% on a discontinued fund...     To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

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