Hike in Petrol and Diesel Prices from Midnight

The government has hiked prices of petrol and diesel prices by Rs 4 per litre and Rs 2 per litre respectively. The government though decided to leave prices of kerosene and liquefied petroleum gas (LPG) untouched. The hike comes into effect from midnight

Particulars	Mahindra Holidays & Resorts India Limited
Planning to Offer	92,65,275 no. of equity shares
Face value	Rs.10/- each at a price to be discovered through book building process
Price band announced	Rs.275/- to Rs.325/- per equity share
Issue is scheduled to pen	23.06.2009
Issue is scheduled to close	26.06.2009
Managers to the Issue	HSBC Securities and Capital Markets (India) Private Ltd,Kotak Mahindra Capital Company Ltd, SBI Capital Markets Ltd
We find from our records that you are one of the regular investors in IPOs/equity shares. We thought it appropriate to bring to your notice the following:
SEBI has recently introduced a new process applicable to retail individual investors popularly referred to as ASBA (Application Supported by Blocked amount) process. Under this process, the bid amount is blocked in your account at the time of bidding. If and when an allotment is made against your application to the extent of money due on the shares allotted, your account will be debited and the money will be remitted to the company. Therefore, the bid amount remains in your account earning interest during the whole process period. Your account will be debited only to the extent of shares allotted, if any,and the remaining amount will be unblocked. There will be no refund as such and therefore the problems related to non-receipt of refund will not be encountered by you. This is a facility extended by some self certified syndicate bankers (SCSBs) who have registered as such with SEBI. Currently the following banks have been identified as SCSB banks.
1.Corporation Bank 2.Union Bank of India 3.HDFC Bank 4.State Bank of India 5.ICICI Bank Ltd 6.IDBI Bank 7.AXIS Bank 8.Kotak Mahindra Bank Ltd 9.State Bank of Bikaner & Jaipur 10.Bank of Baroda		11.State Bank of Hyderabad 12.Punjab National Bank 13.Bank of India 14.Yes Bank Ltd 15.Citibank 16.HSBC Ltd 17.Vijaya Bank 18.State Bank of Travancore 19.Bank of Maharastra
SEBI may register more SCSB (Self Certified Syndicate Bank) banks as and when they undergo the self certification process. In case your bank is not one of the SCSB as on date/you are not dealing with any of the bank listed above, you are requested to verify with them as to whether they have got subsequently registered as SCSB.
In case you are the client of any of the above banks and you wish to apply under the retail individual investors category, we strongly advise you to consider making an application under the ASBA process. Should you require more details on this, please do write to us.
In case your bank is not an SCSB bank, you may participate in the IPO through the normal conventional process. Here again, we request you to ensure the following:
The application form is filled in all respects and duly signed by the applicants. The demat account details provided therein pertain to the applicants. The bank account details registered with the depository are correct. In case you have not provided the 9 (nine) digit MICR code to the depository participant, please do the same, so that refunds, if any, can be sent through electronic means wherever possible. Please retain the photocopy of the entire application for your future reference. Please ensure that your application is submitted to one of the bidding centers listed in the inner pages of the application booklet. We find that a large number of banks, particularly in the nationalized sector, have brought their branches under total computerization / core bank solution. In the process, account numbers of their clients have under gone changes. Please ensure that the account number registered with your DP is the current new number allotted, by the bank.

Volatile Market Today

Volatility was high. After an initial slide, the market soon
bounced back and moved into the green on reports the key government
departments have drawn up a slew of proposals to populate an
ambitious reform agenda for the first 100 days of Dr Manmohan
Singh's second term as the Prime Minister of India. The market once
again slipped into the red shortly. The market bounced back with
the Sensex surging to the day's high in mid-morning trade as Asian
stocks rose. But the rally was short-lived as the market slipped in
the red once again in early afternoon trade.

Dr Singh was renominated as Congress Parliamentary Party leader on
Tuesday (19 May 2009) and is expected to stake claim today to head
the new Government of the UPA which saw BSP and SP scramble to give
it unexpected support to have 44 seats more than the required
majority. The 76-year-old economist-turned-politician is likely to
be sworn in as Prime Minster of India for the second term on Friday
22 May 2009, a day after the 18th death anniversary of Rajiv
Gandhi.

Singh may stake claim to be the Prime Minister (PM) for a second
term after meeting of the leaders of the UPA today where he is
likely to get a formal backing of the ruling Congress-led alliance.

Today's Market

Key benchmark indices surged to day's high, reversing early losses,
mirroring firm Asian indices. Volatility was high. The BSE 30-share
Sensex was up 82.73 points, or 0.68%, up 173.07 points from the
day's low. The Sensex hit its highest level in six months. The
broader based 50-shares S&P CNX Nifty index surged past the 3,700
mark for the first time in nearly six months

The market was volatile. It drifted lower in early trade amid
concern US banks are short of capital. The market cut losses later.
It moved between positive and negative zone in early afternoon
trade. The market surged in afternoon trade as Asian stocks rose.

Recovery in the Indian economy triggered a solid rally on the
domestic bourses in the past few days. The rally was also a part of
a sharp surge in global equities triggered by hopes the worst of
the global economic recession may be over. From a 3-year closing
low of 8,160.40 on 9 March 2009, the Sensex jumped 3970.68 points
or 48.65% to 12,131.08 on 5 May 2009.