Oriental Bank of Commerce leads gainers in 'A' group

Tata Power Company, UCO Bank, Amara Raja Batteries and Torrent Power are among the other gainers.

State-run bank stocks gained on renewed buying. Oriental Bank of Commerce spurted 6.97% to Rs 210.95 and topped the gainers in the BSE's 'A' group.

UCO Bank jumped 5.32% to Rs 79.20 and was third biggest gainer in 'A' group.

Power generation shares were in demand on strong demand from investors for the follow-on public offer (FPO) of state-run Power Grid Corporation of India (PGCIL).

Tata Power Company galloped 5.57% to Rs 88.10 and was second biggest gainer in 'A' group. Torrent Power rose 4.7% to Rs 129.25 and was fifth biggest gainer in 'A' group.

The PGCIL FPO saw strong demand from institutional investors. The FPO was subscribed 6.60 times till 16:00 IST on the last day of the bidding for the FPO today, 6 December 2013. The FPO received bids for a total 470.48 crore shares till 16:00 IST today, 6 December 2013, compared with 78.70 crore shares on offer, as per NSE data.

The portion reserved for institutional investors i.e. Qualified Institutional Buyers (QIBs) was subscribed 9.09 times. Thursday was the last day of bidding for the FPO by institutional investors. Today is the last day for the bidding for the FPO by retail investors and employees of the company. The price band for the FPO has been set at Rs 85 to Rs 90 per share. A discount of Rs 4.50 per share on the final issue price discovered through the book-building route will be available to retail investors and eligible employees of the company.

Amara Raja Batteries surged 5.07% to Rs 344.85 and was fourth biggest gainer in 'A' group.

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