Asia’s oldest stock exchange opens its Initial Public Offering (IPO) today, ahead of NSE's planned IPO. The BSE is looking to raise more than Rs. 1,243 crore. Analysts have so far estimated that the price band BSE is selling its shares at - Rs. 805-806 - is competitive, with a price to earnings (P/E) ratio of 20.6, compared to India's listed Multi Commodity Exchange of India (MCX) which is currently trading at a P/E of around 40.

JSW Steel has responded to queries on rumors that the company is in talks to buy a controlling stake in debt ridden Monnet Ispat. JSW clarified, stating that it hopes to expand to a 40 million tonne steel company in the coming years, and is looking at multiple options to achieve that goal, including acquisitions. However, it has refused to say how far talks have progressed with acquisition targets.

Stock in spotlight: L&T Technology Services, which announced Q3 revenues of Rs. 810.4 crore, an increase of 3.9% yoy. QoQ growth is down 1.5%, with the company noting that some expected client projects failed to come through during the quarter.  

Photo of the day: Civil defense workers take part in a rehearsal for Republic Day celebrations in Kolkata. Rupak de Chowdhuri/Reuters