Street signs: Best week since listing for HDFC Standard Life Insurance

HDFC Standard Life Insurance witnessed its best week since listing. Shares of the private life insurer gained 12 per cent during the week, amid ‘buy’ calls from foreign brokerages CLSA and Nomura. Both brokerages are forecasting healthy growth in premiums for HDFC Life. The shares are up 57 per cent since listing in November. The company’s market value has risen to Rs 912 billion, making it more valuable than 18 Nifty companies. HDFC Life could soon become the first insurance company to make it to the benchmark indices.  Samie Modak

MFs find Capital First attractive

Shares of Capital First, which announced a merger with IDFC Bank on Saturday, have gained about 25 per cent in the past month on strong financials and buzz of a merger. Several brokerages have recommended the consumer and SME (small and medium enterprises) lender. And, according to market sources many fund managers have also been accumulating the stock. According to an expert, the finance company’s numbers are attractive and its merger with IDFC Bank would create a stronger bank.  Joydeep Ghosh

New IPOs go at high premium

The forthcoming initial public offerings (IPO) of Amber Enterprises and Newgen Software are quoting at an attractive premium in the grey market. According to market players, shares of appliance manufacturer Amber are changing hands at more than 50 per cent premium to its IPO price, while those of Newgen are garnering a premium of over 25 per cent. Amber’s IPO will collect Rs 6 billion and Newgen’s IPO Rs 5.2 billion. Both IPOs open for subscription this week. Pavan Burugula