'Day-one pop', finally

The two new listings this week of Adlabs Entertainment and Inox Wind are expected to see "day-one pop" (market parlance for rising), if grey market activity is anything to go by. If that happens, it will be a trend reversal. The last two companies to list - Ortel and Monte Carlo - gave negative returns on debut. Shares of Adlabs, which lists on Monday, were going at a premium of Rs 15-20 while that of Inox, which lists on Wednesday, were changing hands at up to Rs 60 above its issue price.

Samie Modak

Not such a GIFT
There is an undercurrent of scepticism about the planned International Financial Services Centre at the Gujarat International Finance Tec-city (GIFT). A senior regulatory official was heard saying the government seems to be in hurry over the issue. Other such centres elsewhere in the world have worked because they allowed entities to escape the tax net. This is no longer easy because of the Foreign Account Tax Compliance Act and other laws, he said. An exchange official said recent regulations on GIFT leave more questions than answers on setting up base in the jurisdiction. The powers-that-be might still have some convincing to do.

Sachin P Mampatta

TCS: The next bellwether
The March quarter earnings season will be kicked off by the country's most valuable company, Tata Consultancy Services, when it will announce its numbers on April 16. Traditionally, it is rival Infosys which is the first blue-chip to announce its results, thereby setting the mood for the earnings season. Infosys, this time, will announce its results on April 24. In the past, the two industry titans have announced their results on the same day.

Samie Modak