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Jignesh defends FTIL, questions MCX audit release timing

Written By Unknown on Rabu, 30 April 2014 | 16.02

Financial Technologies  chief Jignesh Shah defended his firm, which has been accused by a special audit of indulging in several wrongdoings when it controlled MCX , and questioned why the report was released just as FTIL was about to divest its stake in the commodities exchange.

In an interview with CNBC-TV18's Sajeet Manghat, Shah said transactions between the two firms were in consonance with law and denied the contention that as a promoter firm, FTIL had taken undue advantage of MCX, as alleged by the audit that was carried out by PricewaterhouseCoopers at the behest of the Forward Markets Commission.

FTIL has been asked to divest most of the 26 percent stake it holds in MCX by regulator FMC after a Rs 5,600-crore scam broke out last year at National Spot Exchange, a wholly-owned subsidiary of FTIL.

Also read: Pwc audit of MCX: IPO document had warned investors of risk

A summary of the audit was released in the public domain yesterday aftter interested investors had asked the new management of MCX to release key findings of the report, as they believed it may contain price-sensitive information.

The audit, among several other instances, says that despite being a significant customer for FTIL (which provides technology solutions to financial-services firms), MCX did not appear to "enjoy adequate bargaining power" and in most cases, the amounts billed by FTIL were not "commensurate" with the services offered to MCX on a time-and-material basis.

But Shah said such one should look beyond traditional payment models such as dollar-per-hour or number-of-engineers-deployed, and that transactions such as the ones entered into by FTIL were commonplace for technology companies. "Several technology deals, especially where there is significant capex deployed, work on revenue-sharing or pay-for basis," he said.

The report also said contracts signed between the two firms ranged for "unprecedented long tenures of between 33 and 50 years", to which Shah said there was nothing abnormal about such contracts and that when FTIL was to be listed, global investors had insisted on seeing "certainty of continuity of revenue" [and hence the nature of long-term contracts]. "They understand these businesses."

On the point why MCX was not offered the right to exit the contract without paying a penalty while FTIL was, as pointed out in the report, Shah was evasive, and said all agreements transparently-disclosed in the red-herring prospectuses when the two firms were listed, were agreed upon by boards of both companies and "vetted by reputed law firms" and that he would see if the charge stood up in a court of law.

While questioning the timing of the release just as the FMC deadline (April 30) for FTIL to divest its MCX stake hovers over it, he said he was confident the process would not be derailed.

"I am yet to speak with JM (underwriters to the stake sale) after the release of the report. Bidders will see the report and get back to us and the MCX management if they have questions."

Several entities such as Reliance Capital and Kotak Group had earlier put in non-binding bids to buy the FTIL stake but had expressed reservations about concerns raised by PwC and wanted to have the report released before taking a call on the issue.

Financial Tech stock price

On April 30, 2014, at 14:29 hrs Financial Technologies was quoting at Rs 316.35, down Rs 16, or 4.81 percent. The 52-week high of the share was Rs 870.30 and the 52-week low was Rs 102.05.


The company's trailing 12-month (TTM) EPS was at Rs 50.03 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 6.32. The latest book value of the company is Rs 580.93 per share. At current value, the price-to-book value of the company is 0.54.


16.02 | 0 komentar | Read More

Easy monetary policy to aid European mkts: Hans Goetti

Hans Goetti of Banque Internationale believes the ECB wants to see more economic data coming out of Europe and then take a decision on rates.

Hans Goetti of Banque Internationale a Luxembourg says the positive cue for European markets would be the prospect of the European Central Bank (ECB) pursuing an easier monetary policy. Though the ECB has indicated that it won't happen anytime soon, but Goetti sees the central bank easing rates later this year.

He feels European market still offers very good value.

He believes the ECB wants to see more economic data coming out of the region and then take a decision. ECB, according to him, sees Europe closer to deflation than inflation. 

Below is the verbatim transcript of Hans Goetti's interview with Reema Tendulkar and Ekta Batra on CNBC-TV18.

Reema: Are you surprised with the European market opening? US markets had a good close, they were higher by about half a percent but that is not translated into European markets this morning, so what is keeping it lower and how is the day expected to shape up for Europe?

A: The positive case for Europe - it will be to a large extent supported by the prospects of the ECB pursuing an easy way of monetary policy and they have stated that they are not ready or it is not going to happen anytime soon and maybe that is a bit of a disappointment, there is obviously uncertainty about Ukraine and so on. So I think it is some short-term fact that play a role. We still think that Europe offers very good value as we see ECB later this year loosening up on their monetary policy.

Ekta: So the inflation data that came out yesterday is not going to have any impact on the ECB loosening up policy according to you?

A: That is right. I think they are not ready yet to commit to easier monetary policy. I think they want to see more data. I think they still think that Europe is closer to deflation than inflation but they are not willing to do anything right now and of course we have recovery that is starting to take also they probably would like to see more data.

Reema: If the FOMC continues with its stance and we see the fourth cut in monthly bond purchases, will the markets react or is completely priced in?

A: What you have there is you have a reduction in the deficit in United States and the issuance is way down. At the same time you have commercial banks still buying treasury bonds, everybody is out for yield, there is still this chase for yield, no matter how low it is even if real rates are practically at zero. So that supports the treasury bond market quite well contrary to expectations at the beginning of the year. We were afraid of Fed tapering and less buying but also the issuance is much less because the fiscal situation in the US is improving.

Stay tuned for more…


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Eye 20% topline growth in FY15: Shopper's Stop

Shrikhande says that the company has been expanding at a face pace and its like-to-like store growth stood at 8 percent in Q4FY14.

Comfortable with current debt:equity ratio of 0.6

Govind Shrikhande

MD

Shoppers Stop

Shopper's Stop  aims to open another eight stores in the coming year. In an interview to CNBC-TV18, managing director Govind Shrikhande says, he expects the company's topline to grow 20 percent in FY15.

The retail chain reported 46.60 percent decline in standalone net profit to Rs 8.1 crore for the fourth quarter ended March 31, 2014, dragged by higher expenses. The company had posted a net profit of Rs 15.17 crore in the corresponding quarter of 2012-13. It also witnessed a drop at the gross margins level.

Shrikhande says that the company has been expanding at a face pace and its like-to-like store growth stood at 8 percent in Q4FY14.

Its overall expenses in the March quarter increased 19.81 percent to Rs 717.31 crore from Rs 598.86 crore in the same quarter of the previous fiscal. "Our interest costs have gone up due to large investments made," he adds.

He expects FY16-17 to be a turnaround period for the company and is confident that its Hypercity business will turn PAT-positive by year-end.

Transcript to follow shortly


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Sell MCX Potato May; target of Rs 1300-1290: Angel

Angel Commodities has come out with its special technical report on MCX Potato. The research firm has advised to sell MCX Potato May between Rs 1395 - 1405 with a stoploss of Rs 1452 for the target price of Rs 1300 / 1290.

Special technical report on MCX Potato: Angel

MCX Potato May contract was trading in the positive phase from last couple of weeks. We observed that prices made a "Double Top formation" on 1,450 levels on the weekly prices chart from last two consecutive weeks. In the current week prices are trading on a bearish mode after making a high of 1,433 levels.

In MCX Potato May contract Prices made a low of 850.10 levels and a high of 1,450 levels.

Indicator Analysis
On the oscillator front, 14 week RSI is falling from the overbought zone and is currently reading at 84 which indicate that the price may correct more from the overbought zone.

Key Levels
Resistance could be seen at 1,450 levels. Price can find support at level of 1,300 levels and below that strong support is seen at level of 1,250 levels.

Looking at Double Top formation and RSI is also falling from overbought zone which is basically a selling signal, we recommend Sell in MCX Potato May contract.

Positional Call (5-7 Days) - Sell MCX Potato May between Rs 1395 - 1405, SL - 1452, Target - 1300 / 1290.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


16.02 | 0 komentar | Read More

Lloyd Rockfibers: Outcome of board meeting

Written By Unknown on Selasa, 29 April 2014 | 16.02

Lloyd Rockfibers has informed that the Board of Directors of the Company at its meeting held on April 29, 2014, has considered the sale of asset/undertaking of the Company subject to the approval of shareholder through the process of Postal Ballot. Steps are being taken for seeking approval of the shareholder.

Lloyd Rockfibers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2014, has considered the following:Sale of asset/undertaking of the Company subject to the approval of shareholder through the process of Postal Ballot. Steps are being taken for seeking approval of the shareholder.Source : BSE

Read all announcements in Lloyd Rock


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Hold Cairn India; target of Rs 361: ICICIdirect.com

Brokerage house ICICIdirect.com has recommended a hold rating on Cairn India with a target price of Rs 361 per share in its April 28, 2014 research report.

ICICIdirect.com report on Cairn India

"Cairn India reported its Q4FY14 results with revenues at Rs 5048.9 crore and PAT at Rs 3035.4 crore. The topline was in line with our estimates. However, the PAT was is marginally above our estimates (Rs 2,951.3 crore) mainly due to lower-than-estimated operating expenses and higher-than-estimated other income Gross production from the Rajasthan block in Q4FY14 stood at 1,90,881 bopd (our estimate: 1,98,334 bopd) whereas the net oil & gas production for the company stood at 1,42,796 boepd (our estimate: 1,48,956 boepd). Although the FY14 MBA exit production was at 2,00,000 boepd, the production guidance for FY15 is muted, as the production from the MBA field is expected to remain flat."

"Although the ongoing buyback programme of up to Rs 5725 crore and yearly capex plan of USD1 billion for the next three years does address concerns of cash utilisation partially, it is not enough as the cash is piling up (currently at ~USD3.5 billion). This high level of cash will keep the concern of cash diversion to Vedanta alive, which has to repay high debt up to FY15E. With a total dividend payout of Rs 12.5/share for FY14, we arrive at a dividend yield of ~ 3.7 percent. Cairn is currently trading with an implied Brent crude price of USD89/barrel. Although Rajasthan production is expected to remain flat in FY15, the IDP policy will ensure the Barmer Hill production will start contributing significantly from FY16 onwards. Also, a ramp-up is expected to be witnessed in FY16, once the EOR programme is extended to Bhagyam and Aishwariya. We estimate Cairn's fair value at Rs 361/share (Rajasthan fields at Rs 230/share) with a HOLD recommendation on the stock", says ICICIdirect.com research report.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


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State Bank of Mysore's AGM on May 30, 2014

State Bank of Mysore has informed that 54th Annual General Meeting of the Shareholders of the Bank will be held at Jnana Jyothi Auditorium, Central College, Palace Road (Opp. Cauvery Guest House), Bangalore - 560 001 on May 30, 2014 at 12.00 noon.

State Bank of Mysore has informed BSE that 54th Annual General Meeting of the Shareholders of the Bank will be held at Jnana Jyothi Auditorium, Central College, Palace Road (Opp. Cauvery Guest House), Bangalore - 560 001 on May 30, 2014 at 12.00 noon for transacting the following business;"To discuss and adopt the Report of the Board of Directors, the Balance Sheet and Profit & Loss Account of the bank made up to the March 31, 2014 and the Auditors' Report on the Balance Sheet and Accounts."Source : BSE

Read all announcements in State Bk Mysore


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Nifty hovers around 6750 amid pressure; HDFC, Axis rebound

Apr 29, 2014, 02.22 PM IST | Source: Moneycontrol.com

Equity benchmarks trimmed losses in afternoon trade supported by HDFC and L&T. The Sensex declined 51.74 points to 22579.87 and the Nifty fell 9.65 points to 6751.60. About 1285 shares have advanced, 1294 shares declined, and 130 shares are unchanged.

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Nifty hovers around 6750 amid pressure; HDFC, Axis rebound

Equity benchmarks trimmed losses in afternoon trade supported by HDFC and L&T. The Sensex declined 51.74 points to 22579.87 and the Nifty fell 9.65 points to 6751.60. About 1285 shares have advanced, 1294 shares declined, and 130 shares are unchanged.

14:22

Moneycontrol Bureau
Live Market Commentary Equity benchmarks trimmed losses in afternoon trade supported by HDFC and L&T. The Sensex declined 51.74 points to 22579.87 and the Nifty fell 9.65 points to 6751.60. About 1285 shares have advanced, 1294 shares declined, and 130 shares are unchanged.

Engineering and construction major Larsen & Toubro gained 0.5 percent while top software services exporter TCS and housing finance company HDFC rose 0.3 percent each.

Telecom operator Bharti Airtel advanced 0.3 percent too, ahead of fourth quarter earnings today. According to CNBC-TV18 poll estimates, analysts expect a decent quarter driven by a strong India performance while Africa is expected to drag. PAT may fall 6.4 percent at Rs 1000 crore versus Rs 1068.2 crore on sequential basis.

Drug maker Sun Pharma and private sector lender Axis Bank climbed 0.6 percent each whereas shares of Hindustan Unilever, Tata Steel, Bajaj Auto and Hindalco Industries lost 2-4 percent.

HDFC Bank, State Bank of India, Tata Motors, Maruti Suzuki, Hero Motocorp, Tata Power and Cipla fell 0.8-1 percent. Top private sector lender ICICI Bank cut losses to 0.3 percent from 1.3 percent earlier.

13:00

Telecom stocks are in focus as Telecom Disputes Settlement and Arbitration Tribunal (TDSAT) has allowed intra-circle 3G roaming.

Read More »

12:00

Tata Steel maintained its top position in the selling list, falling 3 percent followed by Hindustan Unilever, Bajaj Auto, HDFC Bank, Cipla, Hindalco Industries, Tata Power and Maruti Suzuki with 1-2 percent.

Read More »

11:01

Tech stocks like Wipro, TCS and Infosys are on buyers' list while HUL, Tata Steel, Bajaj Auto, Hindalco and Bharti Airtel are among the losers.

Read More »

10:00

Equity benchmarks extended fall with the Sensex losing over 100 points and Nifty falling below the 6750 level weighed down by banks, FMCG, capital goods and metals stocks.

Read More »

09:18

The rupee opened with marginal gains of 5 paise at 60.59 per dollar on Tuesday as against previous day's closing value of 60.64 a dollar.

Read More »

Buy & sell politicians on Power Play
- the political stock exchange

video of the day

Majority govt no magic wand for Indian economy: Dimensions


16.02 | 0 komentar | Read More

Money Market Operations as on April 26, 2014

Written By Unknown on Senin, 28 April 2014 | 16.02

(Amount in ` crore, Rate in per cent)
A. Overnight Segment (I+II+III+IV)  

5,995.62

6.14

2.00-8.00

     III. Market Repo  

0.00

-

-

     IV. Repo in Corporate Bond  

0.00

-

-

     I. Notice Money**  

3.25

6.46

6.00-6.50

     II. Term Money@@  

0.00

-

-

     IV. Market Repo  

0.00

-

-

     V. Repo in Corporate Bond  

0.00

-

-

C. Liquidity Adjustment Facility
     (iii) Reverse Repo

(3 days)


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Raj Television Network: Outcome of board meeting

Raj Television Network at its meeting held on April 28, 2014, has decided to revalue the fixed assets of the Company and authorized the Managing Director to do the needful.

Raj Television Network Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2014, has discussed and approved the followings:1. The Board reviewed the business operations of the Company.2. The Board decided to revalue the fixed assets of the Company and authorized the Managing Director to do the needful.3. The Board reviewed and resolved to constitute CSR Committee with Shri R. Rajagopalan (Independent Director), Shri D. R. Kaarthikeyan (independent Director) and Shri M. Regunathan (Whole time Director) as members of the said committee.4. The Board reviewed various compliances to be undertaken by the Company which is applicable to the Company in view of the new Companies Act, 2013 and authorized Shri Raajhendran M, Managing Director and Shri Joseph Cheriyan, Company Secretary of the Company to do all such acts, things and deeds in this connection.Source : BSE

Read all announcements in Raj Television


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Confident of clocking 30% revenue growth in FY15: Cera

CERA's Q4 total income grew 38.1 percent to Rs 218 crore against Rs 158 crore and profit after tax increased 38.8 percent to Rs 19.3 crore against Rs 13.9 crore on a year-on-year basis.

this year we started tiles that are 100 percent outsourced and there also we have got very good growth.

SC Kothari

CEO

Cera Sanitaryware

Competitive pricing with robust marketing efforts have helped CERA Sanitaryware  post a strong result in its fourth quarter ended March 31.

The company's total income grew 38.1 percent to Rs 218 crore against Rs 158 crore and profit after tax increased 38.8 percent to Rs 19.3 crore against Rs 13.9 crore on a year-on-year basis. CERA has also reported a standalone sales turnover of Rs 218.19 for the quarter.

CERA's stock price, which is currently at Rs 871, has doubled in the past one year (Rs 438) and has given a 26 percent returns since January 1.

The company had a reduced impact of rupee depreciation due to price hikes taken during the year.

Commenting on the performance, CEO SC Kothari said that he expects to maintain a 30 percent revenue growth in FY15 too, if all goes well. CERA is also focusing on developing one-stop-shop model.

Kothari sees margins improving going forward and expects the topline growth to be stable around 30 percent.

Below is the interview of SC Kothari with Ekta Batra & Reema Tendulkar on CNBC-TV18.

Reema: Q4 was strong, revenue growth of 38 percent; in FY14 as well you have delivered a revenue growth of close to about 36 percent. What is FY15 looking like in terms of revenue growth?

A: Barring unexpected circumstances we would maintain this growth above 30 percent in '14-15 also.

Ekta: Can you take us through what the product mix looks like for CERA Sanitaryware, where was your maximum growth which came in through this quarter and in terms of pricing as well?

A: Basically we are sanitaryware manufacturers. Our capacity to manufacture is 2.7 million and this year our production was 2.75 million and apart from that we have got a faucet ware unit where our capacity is 2,500 pieces per day and that also we produce at the rated capacity. Therefore, our major growth has come from sanitaryware and faucet apart from that we are importing very high value item from chain under our brand name by giving our design, so that has also given us good growth. Plus, this year we started tiles that are 100 percent outsourced and there also we have got very good growth. So combining all these factors our growth is 36 percent.


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Hubtown: Outcome of board meeting

Hubtown Ltd has informed that the Board of Directors of the Company at its meeting held on March 06, 2014, has shifted the Registered Office of the Company to Ackruti Center Point, 6th floor, Central Road, Marol MIDC, Andheri (East), Mumbai - 400 093 with effect from March 06, 2014.

Hubtown Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 06, 2014, has shifted the Registered Office of the Company to the following new address, with effect from March 06, 2014.Ackruti Center Point', 6th floorCentral Road, Marol MIDC,Andheri (East), Mumbai - 400 093Source : BSE

Read all announcements in Hubtown

To read the full report click here


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Watch: Ads that jumped on to the election bandwagon

Written By Unknown on Minggu, 27 April 2014 | 16.02

Now, there are many brands that have jumped on to the election bandwagon. While some are urging consumers to vote, some are talking elections without even referring to them. Here are some that caught our eye.

Now, there are many brands that have jumped on to the election bandwagon. While some are urging consumers to vote, some are talking elections without even referring to them. Here are some that caught our eye.


16.02 | 0 komentar | Read More

Vikram Sakhuja’s ambition for Maxus

Media agency Maxus continues to dominate headlines. According to the latest RECMA reports released earlier this month, the agency retained its position as India's most dominant media agency, and has been named the world's fastest growing media agency network.

Media agency Maxus continues to dominate headlines. According to the latest RECMA reports released earlier this month, the agency retained its position as India's most dominant media agency, and has been named the world's fastest growing media agency network. It's global CEO, Vikram Sakhuja speaks about how he plans to take Maxus to the top five globally.


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There's change at Leo Burnett India

The big news from Indian advertising this week was the change of creative guard at Leo Burnett India. Former ECD of BBDO India, Raj Deepak Das will now take over from KV Sridhar as the new Chief Creative officer of the agency. This, nearly six months after the agency got a new CEO in Saurabh Verma.

The big news from Indian advertising this week was the change of creative guard at Leo Burnett India. Former ECD of BBDO India, Raj Deepak Das will now take over from KV Sridhar as the new Chief Creative officer of the agency. This, nearly six months after the agency got a new CEO in Saurabh Verma. Storyboard Editor Anant Rangaswami spoke to Verma on the implications of the decision to bring in new blood.


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Rain likely in North and Northeast; rest of India swelters under intense heat

The Western Disturbance brought light rain in Jammu & Kashmir where Gulmarg recorded 9.6 mm of rain. Srinagar, Batote and Pahalgam also received some rain. As the system is moving away, rain will decrease in the state. In the next 24 hours, Himachal Pradesh, Uttarakhand, Haryana and Delhi might receive thunderstorms with squally winds accompanied by light rain.

The associated cyclonic circulation over west Rajasthan is also expected to moving east-northeastwards and bring some relief from the hot and dry conditions in the northwest plains. According to the latest weather update by Skymet Meteorology Division in India, Northeast India will heave a sigh of relief as rain is expected here from tomorrow.

Weather in East India

In East India, temperatures have been on the rise. Heat wave conditions are being experienced in some pockets of south West Bengal like Purulia and Burdwan. Kolkata is experiencing extreme heat wave conditions and recorded 41.2°C as maximum yesterday, which is 6°C above normal average.

Weather in Central India

In Maharashtra, Nagpur touched 44°C today afternoon. Several other places like Wardha, Malegaon and Bhira are above 43°C and will maintain levels in the next 24 hours.

Weather in South India

The discontinuity line across north Odisha, south Chhattisgarh, coastal Andhra Pradesh and Telangana region could witness some thunderstorms in next 24 hours. South Kerala and Karnataka could also receive some isolated thundery activity. As rain will not be significant and commence only in the later part of the day, temperatures will not be affected much.

By: Skymetweather.com


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BJP releases video showing bogus voting in Jasrana town

Written By Unknown on Sabtu, 26 April 2014 | 16.02

Releasing the clip, BJP district president Arvind Pachauri said the video shows a youth taking voting slip from a polling staff, and going to the EVM several times and then return.

BJP today released a video clip purportedly showing a youth indulging in bogus voting at Jeda polling centre in Jasrana area of the district.

Releasing the clip, BJP district president Arvind Pachauri said the video shows a youth taking voting slip from a polling staff, and going to the EVM several times and then return.

Earlier an FIR was filed against BJP candidate from Firozabad Lok Sabha seat SP Singh Baghel and 500 others for creating ruckus, pelting stones, setting afire a police vehicle, among other things during a dharna.

Also read:  BJP-TDP alliance intact, will sweep elections: Chandrababu

The incident took place last night when Baghel along with his supporters sat on a dharna demanding repoll in the constituency.

Baghel had alleged that SP men and officials committed irregularities at a number of booths in Jasrana area during polling yesterday.


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What millennials want from their careers

Jappreet Sethi
 
Those born between the 1980's and 2000 are considered millennials, and they seem to have developed specific characteristics -  from the way they live with parents, to structured lives, to contact with diverse people, to the way they want their work life to be. Important work characteristics of this emerging group include working with diverse people, working as a team, making colleagues their friends, integrating their work and personal life and expecting feedback.
 
The one factor that students need from their career isn't leadership opportunities, security or status anymore, but a life that extends beyond work, as well. Earlier, it was assumed that work-life balance is their primary objective. However, recent studies reveal that it is more about work-life integration.
 
Among other things, work-life integration means one has the freedom to pursue matters related to one's personal/family life even while at work; by the same coin, work does no longer end when one leaves the office, but may continue at home.
 
This kind of holistic integration of two essential life functions that were in previous times vehemently defended as separate is now given a lot of importance by millenials. Most managerial executives from the previous generation would simply laugh at phrases like work-life integration and wonder if such a concept can exist in reality. They would never gather the courage to ask about the company's views on such matters at an interview.

However, today everyone from entry level to senior managerial level executives are intent on being allowed to remain functional on the personal front even while at work. Likewise, married professionals from this group have long since given up the illusion that they can leave their work in the office.
 
This is, in fact, a hard reality in today's highly connected age of continuous communication and the blurring of time zones. Even after leaving work, employees are expected to keep working. Gone are the days when people left their offices and were not required to do anything until they returned the next morning. The times when weekends meant a complete disconnection from work are lalso long since history.
 
Millennials know that they have spent their whole life being 'plugged in': at home, school and at work. It is therefore not surprising that they will not tolerate the concerns of their personal lives to be put aside when they enter the office each morning.
 
Today's workforce is unique in the sense that it has never had to differentiate between work and general life, and that is has learned how to enjoy a complete integration between the two.
 
As technical innovations are booming and affecting the job market, millenials' job expectations have also evolved. For them, work is about more than mere monetary gain, and is actually representative of what they are and what they want to be. Today's millennials expect work organizations to state the benefits which they would avail from working at their organization.
 
The compensation packages seem to be less important nowadays, and are more or less considered as threshold offerings (the bare minimum that millennials expect a company to offer). A prospective employer needs to offer it all – good job characteristics, after-work benefits, diversity, collaboration, innovation, advancement opportunities and a good reputation and scope for healthy work-life integration, in addition to a good remuneration package.
 
Another study by Gutfreund has concluded that:

  • 64% of millennial give priority to making the world a better place over anything else
  • 72% would like to be their own boss. However, if that this not possible, 79% would like their boss to be more of a mentor
  • 74% want flexible schedules
  • 88% prefer a collaborative work culture
  • 88% will not settle for anything but viable work-life integration.
Thus, the most important aspect that keeps millenials enthusiastic about their professional lives is the perception that they are working collectively for something better... something that will make a difference.
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BJP seeks SC-monitored probe into Vadra's land deals

BJP spokesperson Nirmala Sitharaman criticised BSP chief Mayawati for her allegation that BJP had brought outsiders to take part in Narendra Modi's roadshow in Varanasi yesterday. "This shows Mayawati's sense of understanding of the reality of the situation," she said.

BJP today demanded a Supreme Court-monitored investigation into the alleged land deals of Robert Vadra, the son-in-law of Congress president Sonia Gandhi.

"The Supreme Court should investigate the land deals of Vadra and monitor the probe," BJP spokesperson Nirmala Sitharaman said.

She also criticised BSP chief Mayawati for her allegation that BJP had brought outsiders to take part in Narendra Modi's roadshow in Varanasi yesterday. "This shows Mayawati's sense of understanding of the reality of the situation," she said.

Also read:  No witch-hunt, probe against Vadra will be fair: Jaitley

The response to Modi's rallies across the country had proved that he was a national-level leader, she said.

"We are aiming at 272-plus (seats in the Lok Sabha) with the alliance partners. But we are very, very confident that BJP's strength is going to be reflected and NDA will get a good mandate with which it can form the next government," she said.


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Buy Maruti Suzuki; reduce UltraTech Cement: Sharekhan

Sharekhan is bullish on Maruti Suzuki and has recommended buy rating on the stock with a target of Rs 2130 and also recommended UltraTech Cement to reduce rating with a target of Rs 2052 in its April 25, 2014 research report.

Sharekhan`s research report on  Maruti Suzuki & UltraTech Cement

Maruti Suzuki:
In view of the raw material cost pressures witnessed during the quarter and the management's hesitation in taking price hikes in the face of weak customer sentiment, we have reduced our earnings estimates for FY2015 and FY2016 by 8% and 5% respectively. The stock is trading at 14.5x the revised FY2016 earnings estimate of Rs135.1 and offers a 9% upside from the current levels. We reiterate a Buy recommendation on the stock with an unchanged price target of Rs2,130.

UltraTech Cement:
UltraTech is our preferred stock in the cement space due to its strong balance sheet and pan-India presence. However, the stock is trading at a historically high enterprise value/earnings before interest, tax, depreciation and amortisation (EV/EBITDA) multiple and pricing in all the positives at an EV of close to 11x FY2016E operating profit (EBITDA). Consequently, we downgrade the rating on the stock to Reduce with a price target of Rs2,052 and advise waiting for a better entry point.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


16.02 | 0 komentar | Read More

Apple, Google agree to settle lawsuit alleging wage fixing

Written By Unknown on Jumat, 25 April 2014 | 16.03

Four major tech companies including Apple and Google have agreed to pay a total of USD 324 million to settle a lawsuit accusing them of conspiring to hold down salaries in Silicon Valley, sources familiar with the deal said, just weeks before a high profile trial had been scheduled to begin.

The settlement was disclosed in a court filing earlier on Thursday, which did not spell out terms.

Tech workers filed a class action lawsuit against Apple Inc, Google Inc, Intel Inc and Adobe Systems Inc in 2011, alleging they conspired to refrain from soliciting one another's employees in order to avert a salary war.

Trial had been scheduled to begin at the end of May on behalf of roughly 64,000 workers. Had the case gone to trial, plaintiffs would have asked a jury to award roughly USD 3 billion in damages, according to court filings. Under antitrust law, that could have then been tripled to USD 9 billion.

The case has been closely watched due to the potentially high damages award and a steady disclosure of emails in which Apple's late co-founder Steve Jobs, former Google CEO Eric Schmidt and some of their Silicon Valley rivals hatched plans to avoid poaching each other's prized engineers.

In one email exchange after a Google recruiter solicited an Apple employee, Schmidt told Jobs that the recruiter would be fired, court documents show. Jobs then forwarded Schmidt's note to a top Apple human resources executive with a smiley face.

Another exchange shows Google's human resources director asking Schmidt about sharing its no-cold call agreements with competitors. Schmidt, now the company's executive chairman, advised discretion.

"Schmidt responded that he preferred it be shared 'verbally, since I don't want to create a paper trail over which we can be sued later?'" he said, according to a court filing. The HR director agreed.

The companies had acknowledged entering into some no-hire agreements but disputed the allegation that they had conspired to drive down wages.

Spokespeople for Apple, Google and Intel declined to comment on the settlement, and an Adobe representative was not immediately available for comment. An attorney for the plaintiffs, Kelly Dermody of Lieff Cabraser Heimann & Bernstein, in a statement called the deal "an excellent resolution."

Corporate defendants in antitrust cases often agree among themselves what portion each will contribute towards a settlement, said Daniel Crane, a professor at the University of Michigan Law School. One likely formula would be to divide the damages based on how many employees each company has in the class, he said.

Apple, Google, Adobe and Intel in 2010 settled a US Department of Justice probe by agreeing not to enter into such no-hire deals in the future. The four companies had since been fighting the civil antitrust class action.

Walt Disney Co's Pixar and Lucasfilm units and Intuit Inc had already agreed to a settlement, with Disney paying about $9 million and Intuit paying USD 11 million.

Any settlement must be approved by US District Judge Lucy Koh in San Jose, California. A hearing on final approval of the Intuit and Disney deals is scheduled for next week.

The plaintiffs and the companies will disclose principal terms of the settlement by May 27, according to the court filing on Thursday, though it is unclear whether that will spell out what each company will pay.

Some Silicon Valley companies refused to enter into no-hire agreements. Facebook Chief Operating Officer Sheryl Sandberg, for instance, rebuffed an entreaty from Google in 2008 that they refrain from poaching each other's employees.

Additionally, Apple's Jobs threatened Palm with a patent lawsuit if Palm didn't agree to stop soliciting Apple employees. However, then Palm Chief Executive Edward Colligan told Jobs that the plan was "likely illegal," and that Palm was not "intimidated" by the threat.

The case in US District Court, Northern District of California is In Re: High-Tech Employee Antitrust Litigation, 11-cv-2509.


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Orient Bell: Outcome of board meeting

Orient Bell has informed that the Board of Directors of the Company at its meeting held on April 24, 2014, has approved the change in designation and appointment of Mr. K. M. Pai as Whole Time Director (designated as Executive Director) of the Company under provisions of section 196, 197 read with schedule V of Companies Act, 2013.

Orient Bell Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2014, has approved the change in designation and appointment of Mr. K. M. Pai as Whole Time Director (designated as Executive Director) of the Company under provisions of section 196, 197 read with schedule V of Companies Act, 2013.Source : BSE

Read all announcements in Orient Bell


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State Bank of Mysore: Outcome of board meeting

State Bank of Mysore has informed that the Board of Directors of the Bank at its meeting held on April 25, 2014, has transacted the following:- The Board of Directors have declared an interim dividend of 30% i.e. 3.00 per share (Face value of Rs. 10 per share) during the Financial Year 2013-14. Interim Dividend has been treated as final dividend.

State Bank of Mysore has informed BSE that the Board of Directors of the Bank at its meeting held on April 25, 2014, inter alia, has transacted the following:- The Board of Directors have declared an interim dividend of 30% i.e. 3.00 per share (Face value of Rs. 10 per share) during the Financial Year 2013-14. Interim Dividend has been treated as final dividend.Source : BSE

Read all announcements in State Bk Mysore


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Nokia to name Rajeev Suri as next CEO on Tuesday: Report

Citing unnamed sources, daily Helsingin Sanomat said Nokia would also on Tuesday, along with its first-quarter results, announce how much cash it would pay out to shareholders.

Nokia, which is set to close the sale of its phone business to Microsoft, will on Tuesday name Rajeev Suri as its next CEO and outline its new strategy with a focus on its networks equipment business, a newspaper said on Friday.

Citing unnamed sources, daily Helsingin Sanomat said Nokia would also on Tuesday, along with its first-quarter results, announce how much cash it would pay out to shareholders.

Investors have been looking forward to hearing about Nokia's next steps since it announced the 5.4 billion euro (USD 7.5 billion) Microsoft deal in September.

Nokia said earlier this week it expected the deal to close on Friday after the companies had agreed to modify certain deal conditions.

46-year-old Suri, born in India, has been widely considered the leading candidate for the CEO post as in recent years he has helped the network division Nokia Solutions and Networks (NSN) turn profitable with a drastic restructuring plan and by ditching unprofitable businesses.

The newspaper also said Nokia would over time abandon the name NSN.

Nokia was not immediately available for comment.

($1 = 0.7236 euros)


16.03 | 0 komentar | Read More

Special coverage of 2014 elections with Rajdeep Sardesai

Written By Unknown on Kamis, 24 April 2014 | 16.02

Watch special coverage of 2014 elections with Rajdeep Sardesai.

Watch special coverage of 2014 elections with Rajdeep Sardesai.
 


16.02 | 0 komentar | Read More

Live Updates: Mumbai voter turnout remains low, but steady pick up seen

2:08pm: CNBC-TV18 reports the voter turnout in Mumbai remains low. However, some pick up is seen; the youth seems to be enthusiastic about elections this time around. Please vote, Mumbaikars!

"Modi wave is creation of the media," says prime minister Manmohan Singh after casting his vote in Guwahati.

1.50: Till 1 pm, turnout in constituencies in Madhya Pradesh and Rajasthan is 32 percent and 40 percent, respectively. The number could cross 50 percent by the end of the day.

The figure for Maharashtra is not in yet, but is likely far lower than the other states up until now.

1:45: Modi reaches Varanasi collectorate to file nomination.

Says he hasn't been sent by his party, or arrived in the spiritual city on his own volition. "I feel Mother Ganga has called me."

Outlining his vision for the city, he says he wants to make Varanasi a world-class tourist city.

1.40: On FirstBiz: "Around 75 professors and other academics of Indian origin working at some of Britain's prestigious institutions such as Cambridge and Oxford universities and London School of Economics today issued an open letter, sharply attacking Narendra Modi and saying, "The idea of Modi in power fills us with dread"".

Read more here :

1.25: Saif Ali Khan, Shahid Kapoor, Sonakshi Sinha, Javed Akhtar, Rakesh Omprakash Mehra prefer the IIFA awards (taking place in Florida, US) to exercising their voting rights. Most left yesterday or before to attend. So much for all the Bollywood talk about change.

Special mention for Farhan Akhtar and Deepika Padukone who altered their itinerary in order to be able to vote as well as attend.

On that note, Bollywood 'thinking man' Aamir Khan was one of the earliest to vote in the morning.

1:15: "The current levels of the Nifty does reflect the discounting of a favorable outcome in election. And that makes the markets very vulnerable if we do not have the result which market is expecting. This makes the risk reward ratio very unfavorable," warns Vaibhav Sanghvi, a hedge fund manager with Ambit.

"The practical approach would be to sit back and enjoy the great election show, get entertained and then make money after the show," he writes in a Moneycontrol column.

Read more here.

1.05: Corporate captains turn out to vote. When asked about their expectations from a new government, launch into typical generalities: "stable government, transparent policies, decisive action, more jobs".

1.00: Outgoing prime minister Manmohan Singh casts his vote from Guwahati in Assam. When asked about frontrunning PM candidate Narendra Modi and the "wave" in his favour, expectedly dismisses it as a "creation of the the media".

12.55: If you're from Mumbai and haven't voted yet, head here for a seat-by-seat analysis and everything you want to know about your constituencies. Click here for a video feature on:

Mumbai South

Mumbai South Central

Mumbai North West

Mumbai North East

Mumbai North Central

Mumbai North

12.50: Thus far, the turnout is a dismal 17 percent on average in Mumbai

12.30: On account of voting in Mumbai, stock exchanges have remained shut.

12.20 pm: In a very intelligent move that instantly captures media attention on a high-profile, high-TRP polling day, BJP's prime ministerial candidate Narendra Modi steps out to file his nomination from Varanasi with a gargantuan army of supporters.

11.55: ICICI Bank 's Chanda Kochhar casts her vote with family. She says: "We hope for a stable and decisive government."

Meanwhile, Maharashtra witnessed 17 percent voter turnout till 11 AM.

11.30: Sachin Tendulkar steps out to vote on his birthday and says: "Every eligible voter must vote and that is why I am here."

10.57: Suburban Mumbai breakup till 9:00 AM

North East: 7 percent
North Central: 5 percent
North West: 8 percent
North: 9 percent
South: 7.40 percent

10.30: Raj Thackeray steps out to vote

MNS chief Raj Thackeray steps out to cast his vote in Dadar.

10.05: Worli sees poor voter turnout. Though a lot of first-time voters, retirees came in to vote at the early hours. Mid-level corporates started trickling in a little later.

But Peddar Road is seeing good voter turnout. They were queueing even before 7.00 AM.

9.35:  HDFC Chairman Deepak Parekh's name finds no mention in the voter list according to CNBC TV18, therefore couldn't cast his vote.

9:10: CNBC-TV18's Kritika Saxena reports the Mumbai North-Central constituency hasn't seen a very significant turnout yet. Priya Dutt is contesting from the Congress and Poonam Mahajan, daughter of late Pramod Mahajan are pitted against each other.

N Chandrasekaran, CEO & MD,  TCS who voted from the constituency said, "Mumbai has a huge potential, we need to make sure that the infrastructure is built for this city to realize its full potential. It can be a huge hub for the financial markets around the globe and the infrastructure needs to go up. I don't mean only the physical infrastructure, the overall eco system."

Farah Bookwala reports that voter excitement seems to be missing in Walkeshwar from Mumbai's South Constituency and people have only started trickling in only now.

Godrej group chairman Adi Godrej voted from the constituency and said that the new government should address infrastructural bottlenecks and ease the process of doing business.

"Some of the perceptions have to be corrected. Some of the tax cases have made foreign investors stay away from India, those should be corrected. Economic reforms like goods and services tax should be brought it and ease of doing business in India must be improved," he adds.

Farah Bookwala reports that voter excitement seems to be missing in Walkeshwar and people have only started trickling in only now.

Godrej group chairman Adi Godrej voted from the constituency and said that the new government should address infrastructural bottlenecks and ease the process of doing business.

However, the situation looks totally different at Peddar road where people have been lining up to vote from 6:45, reports Archana Shukla.

There is a large voter turnout here and a lot of senior citizens have been coming in to cast their vote. Many people also in the jogging gears to exercise their adult franchise adds Shukla.

8:55: Industrialist Ajit Gulabchand and  HDFC chief Keki Mistry casted their vote at St. Ignatius High School and Villa Teresa School respectively.

8:45: Renowned director Madhur Bhandarkar appeals to Mumbaikars to vote."I want to make an extremely strong appeal to those who abstained. #Vote. It takes five minutes and then it stays for five years.#Mumbai," he tweeted.

8:30: A lot of people have taken to Twitter to hail the cooperation they received in the process of voting.

8:00: Other celebrities like Sonam Kapoor and Sunny Deol were seen stepping into polling booths in the Mumbai North Central constituency.

7:50: Actress Vidya Balan casted her vote and encouraged others to do the same. She said this after casting her vote, "I want a change and voting is my responsibility. I have any problems tomorrow and if I want someone to address it, this inked finger is a must."

7:45: Reliance head honcho Anil Ambani was among early voters at a polling station in Cuffe Parade, South Mumbai.

7:20 : Rahul Bose seems to be Bollywood's first voter and took to twitter by posting his inked finger picture saying "And so it is done. 7.13am. Third voter in the booth. Mumbai, aaple vote tak. Mahatvaca aahe." (Mumbai, do vote. It is important)

7:00 am: Voting in Mumbai begins

All six constituencies Mumbai South, Mumbai South Central, Mumbai North Central, Mumbai North West, Mumbai North East and Mumbai North go to polls today.

This is third and final phase of Lok Sabha elections in Maharashtra.

Mumbai has a poor track record of voter turnout.


16.02 | 0 komentar | Read More

Axis Bank Q4 net may rise 11% at Rs 1725.1cr: Motilal Oswal

Net interest income is expected to increase by 2.5 percent Q-o-Q (up 14.8 percent Y-o-Y) to Rs 3060 crore, according to Motilal Oswal.

Motilal Oswal has come out with its January-March quarter earnings estimates for the banking sector. The brokerage house expects Axis Bank  to report a 7.5 percent growth quarter-on-quarter (growth of 10.9 percent year-on-year) in net profit at Rs 1725.1 crore.

Net interest income is expected to increase by 2.5 percent Q-o-Q (up 14.8 percent Y-o-Y) to Rs 3060 crore, according to Motilal Oswal.

Motilal Oswal's Report on Axis Bank:

Loan growth is expected to be in line with industry average at 15 percent YoY. However, led by PSL build-up, sequential growth is expected to be strong at 7 percent.

NIM is expected to moderate by 10bp QoQ to 3.6 percent, as share of low yielding PSL loans is expected to go up.

Fee income growth is expected to be sub 10 percent YoY as (1) retail fees (outsourcing of ATM network not yet reflected in base year) remain muted and (2) environment is not conducive for corporate fees.

Stress creation in large/mid-corporate segment is expected to continue. We factor a slippage ratio of 1.4 percent (v/s 1.3 percent in 3QFY14) and flat credit cost of 0.6 percent (v/s 0.6 percent in 3QFY14) for 4QFY14E.

PPP growth YoY is expected to be flat but a decline in provisioning expense (bank had created a contingency buffer of INR 3.8 billion in 4QFY13) is expected to translate into earnings growth of 11 percent+ YoY.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


16.02 | 0 komentar | Read More

Indian Turmeric futures surged on exports inquiries and a slight drop

Indian Turmeric futures surged on exports inquiries and a slight drop in supply at major spot markets of the country. Turmeric prices declined at Erode market ...

Indian Turmeric futures surged on exports inquiries and a slight drop in supply at major spot markets of the country. Turmeric prices declined at Erode market on the back of poor quality arrivals. Traders are receiving new orders from North India every day, but for want of quality traders quoted lower price. The demand for the hybrid finger was high.By: Skymetweather.com


16.02 | 0 komentar | Read More

PFC may touch Rs 200, says Jitendra Panda

Written By Unknown on Rabu, 23 April 2014 | 16.02

Jitendra Panda of Peerless Securities is of the view that Power Finance Corporation may touch Rs 200 in the short term.

Jitendra Panda of Peerless Securities told CNBC-TV18, "Public sector undertakings (PSU) are doing very well. Coal India  and Rural Electrification Corporation  (REC) are looking strong. Looking at short-term trading for today and Friday you could look at Power Finance Corporation  (PFC) at current levels."

"We are looking at a target of Rs 200 for short-term traders and maybe we should be able to see today some short covering further. We believe PFC positional on May basis can be taken for Rs 200 as a target and May futures can be bought with Rs 190 as stoploss," he said.


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Adani Port may test Rs 225: Jitendra Panda

Jitendra Panda of Peerless Securities is of the view that Adani Port may test Rs 225.

Jitendra Panda of Peerless Securities told CNBC-TV18, "The way the positions are built in Adani Port  and the way the long positions are getting rolled over, we believe that there could be further upside to Rs 225 keeping a stoploss of Rs 200. We are seeing long positions getting built up and certainly we see momentum now and this is where the triggers are going, this is a high beta stock with the current theme. So, we believe the target to look at is Rs 225."

At 13:18 hrs Adani Ports and Special Economic Zone was quoting at Rs 207.10, up Rs 2.30, or 1.12 percent. It has touched a 52-week high of Rs 213.

The share touched its 52-week high Rs 209.40 and 52-week low Rs 118 on 21 April, 2014 and 04 September, 2013, respectively. Currently, it is trading 1.1 percent below its 52-week high and 75.51 percent above its 52-week low. Market capitalisation stands at Rs 42,870.77 crore.


16.02 | 0 komentar | Read More

Buy Ranbaxy Laboratories: Jitendra Panda

Jitendra Panda of Peerless Securities recommends buying Ranbaxy Laboratories as the stock may test Rs 500.

Jitendra Panda of Peerless Securities told CNBC-TV18, "Pharma sector has also started showing some positive and long rollovers. So, we believe that Ranbaxy Laboratories  should see Rs 500 and we are keeping a stoploss at Rs 470. We are seeing some long built up happening there and we recommend to buy it."

At 13:15 hrs Ranbaxy Laboratories was quoting at Rs 475.70, up Rs 10.80, or 2.32 percent. It has touched an intraday high of Rs 483.05 and an intraday low of Rs 464.

The share touched its 52-week high Rs 505 and 52-week low Rs 253.95 on 07 April, 2014 and 02 August, 2013, respectively. Currently, it is trading 5.8 percent below its 52-week high and 87.32 percent above its 52-week low. Market capitalisation stands at Rs 20,160.44 crore.


16.02 | 0 komentar | Read More

Indo Rama Synthetics to consider dividend on May 20, 2014

Indo Rama Synthetics (India) has informed that a meeting of the Board of Directors of the Company will be held on May 20, 2014, to consider and approve Audited Financial Results of the Company for the financial year ended March 31, 2014 to consider and if thought fit, to recommend dividend for the Financial Year 2013-14.

Indo Rama Synthetics (India) Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 20, 2014, for the following purposes:-1. To consider and approve Audited Financial Results of the Company for the financial year ended March 31, 2014.2. To consider and decide the date of the next Annual General Meeting of the Company.3. To consider and decide the dates of closure of Register of Members and Share Transfer Books of the Company.4. To consider and if thought fit, to recommend dividend for the Financial Year 2013-14.Source : BSE

Read all announcements in Indo Rama Synth


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Capital goods, oil gas lead; Sensex hovers around 22800

Written By Unknown on Selasa, 22 April 2014 | 16.02

14:00

Moneycontrol Bureau
Live Market Commentary 02:10pm Kosamattam Finance bond issue

Gold loan provider Kosamattam Finance's public issue of secured, redeemable, non-convertible debentures will open for subscription during April 23-May 22, 2014. The company aims to raise upto Rs 75 crore, with an option to retain over-subscription upto Rs 25 crore aggregating to a total of upto Rs 100 crore.

The non deposit taking NBFC is primarily engaged in the gold loan business, lending money against the pledge of household Jewellery in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi and in the Union Territory of Puducherry.

The funds raised through this issue will be utilised for repayment of existing loans and towards its business operations including for capital expenditure and working capital requirements and general corporate purposes.

02:00pm Equity benchmarks maintained positive momentum with marginal gains, heading to close higher for the third consecutive session. The Sensex rose 35.87 points to 22800.70 and the Nifty advanced 10.35 points to 6828. Advancers beat decliners by a ratio of 1403 to 1182 on the BSE.

The market may be eyeing sixth phase of Lok Sabha elections that will be held on April 24 (Thursday) for 117 seats across 11 states and one Union Territory.

According to Gautam Shah of JM Financial, the market can absorb 5-7 percent correction if poll outcome disappoints. He foresees the current rally continuing for one-two years.

Capital goods, oil & gas, private banks and two-wheeler majors advanced while metals, FMCG and select technology stocks declined.

Engineering and construction major Larsen & Toubro rallied 2 percent followed by Reliance Industries, HDFC Bank, ICICI Bank, ONGC, GAIL and Coal India with 1-1.7 percent.

However, Sesa Sterlite fell 3 percent on profit-taking. Shares of ITC, Infosys, HDFC, State Bank of India, Hindustan Unilever, M&M, Tata Motors, NTPC and Maruti declined 0.3-0.9 percent.


16.02 | 0 komentar | Read More

Dipan Mehta positive on pharma sector

Dipan Mehta, member at BSE & NSE is positive on pharma sector.

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "We bear very positive on the pharma sector as a whole and considering the complexities and the risk factors with regards to new product registration, with regards to regulatory Food and Drug Administration (FDA) action and if you not a total hands on experts in the Pharma industry, its better to buy the pharma stocks as a basket and go for a mutual fund which is focused on health care and pharma, that itself should deliver a good safe returns."

"The reason why the other midcap pharma shares are doing well of course one is that there are specific issues relating to each of these stocks. But on the whole if you see the December quarter, the numbers were exceptionally good across the board for most pharma companies and I would read them as a best performer for December quarter and typically when you have a good quarter, you tend to follow it up with another good quarter. So, my sense is that March will also turnout to be a very good quarter for the pharma companies and some kind of pre-result buying seems to be creeping in and valuation wise also these companies are pretty decent," he added.

"We have seen that the India business – the domestic market, the volumes over there have certainly picked up from whatever the market research surveys which have been done and which get released from time to time. So, the sector may surprise investors on the positive side when it comes out with numbers."


16.02 | 0 komentar | Read More

Dipan Mehta overweight on LT

Dipan Mehta, Member at BSE & NSE is overweight on Larsen and Toubro.

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, " Larsen and Toubro benefits from one very important aspect is that when investors want to look at getting into capital goods stocks, at present the choice is limited, given the scale, given the risk factor, given the order book and visibility and L&T fits into that particular bill."

"At the same time, what investors are also factoring in is that post election one should expect a lot of M&A activity within the infrastructure sector and companies like L&T are prime up for divesting some of the investments which they have made in the infrastructure projects in their subsidiaries and that way at a consolidated levels they could perhaps look at unlocking values and those subsidiaries as well as reducing their consolidated debt," he added.

"Apart from the overall growth and the pick up in the business it could come through with projects taking off. But, there is no alternative factor over here because the L&T will benefit the first of the block once the economy in the capex cycle tends to pick up and as I said earlier, we are seeing lot of flows coming in from institutional investors and their preference is clearly for the large index based stocks."

"So, we are seeing the stocks like L&T,  Reliance Industries maybe even some of the other private sector banks like  ICICI Bank being bid up on that count and it's just that the midcaps are doing a bit of catch up. And when it comes to midcaps in the capital goods sector there are still lots of uncertainty as far as numbers are concerned and that may not be the case with L&T given that it has built its order book on the overseas markets as well. So, lot of positives for L&T and I would like to remain slightly overweight in the stock," Mehta said.


16.02 | 0 komentar | Read More

BPCL may test Rs 520: Vishal Malkan

Vishal Malkan of Malkansview.com is of the view that Bharat Petroleum Corporation may test Rs 520 in the short term and Rs 550-575 in the medium term.

Vishal Malkan of Malkansview.com told CNBC-TV18, "Out of Hindustan Petroleum Corporation  (HPCL), Bharat Petroleum Corporation  (BPCL) and Indian Oil Corporation  (IOC), BPCL looks the best because it has broken above its all time high and momentum in all three timeframe which is daily, weekly and monthly has entered into bullish zone. So, I expect a good target in the medium term around Rs 550-575 and for the short-term we can look for a target of Rs 520."

At 14:09 hrs Bharat Petroleum Corporation was quoting at Rs 482, up Rs 18.25, or 3.94 percent. It has touched a 52-week high of Rs 486.80.

The share touched its 52-week high Rs 468.80 and 52-week low Rs 256 on 31 March, 2014 and 06 August, 2013, respectively. Currently, it is trading 2.82 percent below its 52-week high and 88.28 percent above its 52-week low. Market capitalisation stands at Rs 34,852.66 crore.


16.02 | 0 komentar | Read More

Buy Maruti Suzuki, advisses Sudarshan Sukhani

Written By Unknown on Senin, 21 April 2014 | 16.03

Sudarshan Sukhani of s2analytics.com recommends buying Maruti Suzuki with a view of 3-6 months as the stock may head higher.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I have been asking people to buy Maruti Suzuki . If you are a positional trader, if you are looking at 3-6 months time horizon, just go ahead. There is much higher targets."

At 13:49 hrs Maruti Suzuki India was quoting at Rs 1,988.50, up Rs 42.20, or 2.17 percent. It has touched a 52-week high of Rs 1,999.30.

The share touched its 52-week high Rs 1,979.55 and 52-week low Rs 1,217.00 on 01 April, 2014 and 28 August, 2013, respectively. Currently, it is trading 0.45 percent below its 52-week high and 63.39 percent above its 52-week low. Market capitalisation stands at Rs 60,068.62 crore.


16.03 | 0 komentar | Read More

Suprajit Engineering to consider final dividend

Suprajit Engineering has informed that a meeting of the Board of Directors of the Company will be held on May 30, 2014, to approve the Annual Accounts for the year ended March 31, 2014 and consider recommendation of final dividend, if any for the year 2013-14.

Suprajit Engineering Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2014, inter alia to -1. Approve the Annual Accounts for the year ended March 31, 2014.2. Consider recommendation of final dividend , if any for the year 2013-14.3. To approve the Audited Financial Results for the Quarter / Year ended March 31, 2014.Source : BSE

Read all announcements in Suprajit Eng


16.03 | 0 komentar | Read More

Avoid Oriental Bank of Commerce: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one may avoid Oriental Bank of Commerce and prefer Punjab and National Bank, Andhra Bank and Bank of Baroda.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Oriental Bank of Commerce is not my favorite public sector undertaking (PSU) banks. There are other opportunities like Punjab National Bank  (PNB), Bank of Baroda , Andhra Bank  and Canara Bank  which is a very high beta stock. Oriental Bank of Commerce can easily be avoided."

At 13:55 hrs Oriental Bank of Commerce was quoting at Rs 238.75, up Rs 10.20, or 4.46 percent. It has touched an intraday high of Rs 243 and an intraday low of Rs 229.30.

The share touched its 52-week high Rs 290.50 and 52-week low Rs 121.40 on 25 April, 2013 and 29 August, 2013, respectively. Currently, it is trading 17.81 percent below its 52-week high and 96.66 percent above its 52-week low. Market capitalisation stands at Rs 7,158.89 crore.


16.03 | 0 komentar | Read More

Buy Maruti Suzuki, Tata Motors: Nischal Maheshwari

According to Nischal Maheshwari of Edelweiss Financial Services, one may buy Maruti Suzuki and Tata Motors.

Nischal Maheshwari of Edelweiss Financial Services told CNBC-TV18, " Maruti Suzuki India and  Tata Motors are on a positive outlook. Maruti after some recent problems from the side of the management basically, it has got sorted out under the pressure from the shareholders and I think that is why the stock is being performing very well."

"Going ahead, we continue to believe that both Tata Motors and Maruti are strong infrastructure play and recovery in the economy interest rate cards - these are all things basically, which are going to happen over a period of time but I think these are the two stocks, which will gain substantially from these measures. So we are positive on both of them and we have a buy on both the stocks," he added.


16.03 | 0 komentar | Read More

Reebok India's comeback strategy

Written By Unknown on Minggu, 20 April 2014 | 16.02

Recovering from the Rs 870 crore scam that hit the sports goods maker Reebok in 2012, it has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri.

It's been a year of change for Reebok in India. Recovering from the Rs 870 crore scam that hit the sports goods maker in 2012, Reebok has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri. Here's the MD of Reebok India, Eric Haskell on the company's growth strategy and new positioning.


16.02 | 0 komentar | Read More

CCI Order: Third Party Appeals?

Published on Sat, Apr 19,2014 | 18:15, Updated at Sat, Apr 19 at 18:15Source : CNBC-TV18 |   Watch Video :

When can a third party appeal against CCI's decision? The Jet-Etihad merger became the test case for this question when former Air India Executive Director Jitendra Bhargava appealed against CCI's approval order. Last week, the Competition Appellate Tribunal dismissed Bhargava's appeal saying he is not an aggrieved party. Has the COMPAT taken a narrow view of the situation? Payaswini Upadhyay puts that question to experts.

Europe's competition regime allows for third parties such as competitors, customers and suppliers to comment on a merger transaction. In fact, the Commission is mandated to invite third parties to submit their comments. Individual or groups affected by the transaction can also appeal a regulatory approval in court. This liberal regime has facilitated successful third party interventions in the UK- one such was Ryanair's attempt to acquire Aer Lingus

Paku Khan

Partner, Khaitan & Co.

Former Case Officer, Irish Competition Authority

"Even before the notification was formally filed, the European Commission required Ryanair to provide contact information for key customers, competitors and suppliers at every affected airport. The moment the notification was filed the European Commission sent out an information request to all of those interested parties and gave them a short time period to provide their responses. And the reason for that was the European Commission wanted to have as much information as possible. They asked the interested parties what do you think about the transaction which then helped them decide what they would do next- whether they would do a more exhaustive investigation which is what they did in this case or whether they would clear it which is what they didn't do in this case."

In the United States, though the merger control guidelines do not codify the process for third party interventions, the regulators call for information as a best practice. In addition, the United States competition law- Clayton Act- permits private parties who have suffered injury as a result of any antitrust violation, or are threatened with injury, to seek equitable relief from the courts, including, injunctive relief.

Ian Conner

Partner, Kirkland & Ellis

"Typically, they do need standing or evidence that they will be aggrieved by the merger but by and large the mergers that are going to be challenged in the US by private citizens- they would typically be able to meet the standing requirement which is not that high for a merger. Here there argument would be that if prices go up on an airline ticket and they buy those airline tickets, they would be injured and since mergers are looking forward, they just need to show that there is a probability that they will be injured and not that they have been injured by the merger."

In India, the law allows for third party representation before the CCI only if the regulator initiates a phase 2 i.e. a detailed investigation against a merger. If, however, the CCI takes a prima facie view that a merger will not have an appreciable adverse effect on competition and clears it in Phase 1, third parties get no opportunity to represent their case of their own volition. The Act however provides for an appeal.

It says any person, aggrieved by any direction, decision or order of the CCI may prefer an appeal to the Appellate Tribunal. CCI's merger approval of the Jet-Etihad deal became a test case to determine who would qualify as an aggrieved person. A former Air India official approached the Competition Appellate Tribunal alleging that the merger will eliminate competition in the international air passengers market and adversely impact Air India's operations and consumers. Last week, the Tribunal dismissed Bhargava's appeal saying that he does not pass the test of an aggrieved person and the fear of increase in fares is pre mature.

Amitabh Kumar

Partner, JSA

"The way it works today is that third parties come to know of a merger only once its approved and the order has been uploaded on the website of the CCI. And in any place in the world where you don't have chance to go upfront and object to a proposed merger, post merger it becomes more difficult because courts will not like to upset something which has been done. Getting out of the merger process is a very costly thing for the corporations. So courts would normally like to put a very high standard. So it seems there is a gap in the law as it has been framed that while the law wants third parties to object if they are going to be affected but at the same time, they won't get a fair chance to object unless the matter goes to a Phase 2 investigation."

Gopal Subramanium

Senior Counsel Former Solicitor General

"The expression 'person aggrieved' has been interpreted by the Supreme Court in so many decisions. But when you look at the right of appeal under a statute, then you have to interpret the words strictly because the Tribunal is a creature of the statute whereas a court is quite different. In a court, the jurisdiction is different- a High Court has wide plenary jurisdiction. It can entertain any person, it can allow any person to implead himself, it can allow any person to intervene. Now all this is not available in respect of a Tribunal. If it were to decide that I will allow an appeal at the instance of a person when it is only Phase 1- where the public has not interposed because Phase 2 has not come- in that case the order of the Tribunal itself will be open to serious challenge and it would delay the process of genuine approvals."

That's once concern that all the experts in this story voiced to me i.e. if the expression aggrieved person is interpreted widely, it would be open to widespread abuse. At the same time, they also believed that if this appeal had been filed by a group- for instance Air Passengers Association- it would have probably passed the test of aggrieved person.

In Mumbai, Payaswini Upadhyay


16.02 | 0 komentar | Read More

India Inc. 'CAG'ed! Telecom Who Else?

Show Timings:

Friday: 10.30 pm, Saturday: 11.30 am

Sunday: 9:30am & 11.00pm

Published on Sat, Apr 19,2014 | 18:15, Updated at Sat, Apr 19 at 18:19Source : CNBC-TV18 |   Watch Video :

This week the Supreme Court said that it is the duty of the Comptroller & Auditor General of India to audit all transactions of the Union & State as also to audit all receipts payable to the Consolidated Fund of India. And hence the apex court ruled that CAG's examination of the accounts of private telecom service providers in a revenue sharing contract is extremely important to ascertain whether there is an unlawful gain to the service provider and an unlawful to loss to the Union. Is it just telecom companies that can now be audited by CAG or does the application of this judgment extend to all situations where the government has a revenue share? To discuss the scope & enforcement of this order, CNBC-TV18's Menaka Doshi speaks to Rajeev Uberoi, Group General Counsel & Group Head - Legal & Compliance, IDFC and Vikram Nankani of ELP.

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16.02 | 0 komentar | Read More

Companies Act: How Will Life Change?

Published on Sat, Apr 19,2014 | 18:29, Updated at Sat, Apr 19 at 18:58Source : Moneycontrol.com |   Watch Video :

Hello & Welcome to this brand new series – Companies, Act! Over the next many weeks we will analyze the impact of the new company law on incorporation, capital raising, governance, board management, accounting and audit, M&A, litigation and bankruptcy. On this first episode we start by giving you the big picture view on how life has changed for companies, their management, their boards, auditors and their shareholders. And to that I have with Bharat Vasani, Cyril Shroff, Jamil Khatri & D M Muthukumaran.


16.02 | 0 komentar | Read More

Summer rice in India has crossed the tillering to reach booting milking stage In this stage farmers are advised to give nitrogenous fertilizer dose

Written By Unknown on Jumat, 18 April 2014 | 16.02

Summer rice in India has crossed the tillering to reach booting milking stage. In this stage farmers are advised to give nitrogenous fertilizer dose. According ...

Summer rice in India has crossed the tillering to reach booting milking stage. In this stage farmers are advised to give nitrogenous fertilizer dose. According to agriculture scientists, probability of blast disease and stem borer pest may increase due to the cloudy conditions in last week in key summer rice producing states.By: Skymetweather.com


16.02 | 0 komentar | Read More

Farmers are advised to collect the suitable Coconut varieties for nursery raising

Farmers are advised to collect the suitable Coconut varieties for nursery raising. According to agriculture scientists, T x D hybrid, local Assam tall, Bengal ...

Farmers are advised to collect the suitable Coconut varieties for nursery raising. According to agriculture scientists, T x D hybrid, local Assam tall, Bengal selection are good Coconut varieties. Pits should be prepared in advance for planting in April-May. Coconut oil prices increased in southern markets on lower arrivals of copra.By: Skymetweather.com


16.02 | 0 komentar | Read More

Will not do politics that divides the country: Modi

In a democratic set up, it is important that political parties face the pressure of performance, which will inspire them to do good work, said BJP Prime Ministerial Candidate Narendra Modi.

Also Read: Modi wave strong in Agra and Mathura

In an exclusive interview to CNBC Awaaz, Modi said the Centre must think like a team leader, where the team will include the Prime Minister and Chief Ministers, adding that it is not difficult to learn to be a team leader, commitment is must.

Promoting team work, Modi said there's a need to bring both experience and energy together for good work.

He said the party's approach and policies are pro-people, adding that he will accept defeat than resorting to politics of appeasement. "I will not do politics in the name of secularism or that divides the country."

Modi said the party will focus on bringing people out of poverty line.

He sees Railways playing an important role in becoming the link between development of Centre and States, though he thinks that technology upgradation is needed in the sector.

Supporting the single-window clearance for ministerial restructuring, Modi said the decisions should be professional and not political, including privatization of PSUs.

On Goods and Services Tax (GST) implementation, Modi said BJP has always supported it but the success of GST depends on strengthening the IT network. He feels the Centre should take states into confidence over the discussion on process of GST.

On diplomatic ties, Modi said the parameters of diplomacy have changed post globalisation era. He thinks today the country needs to work on trade, commerce and technology with other nations, including US.

Taking a tough stance against tainted MLAs, Modi said he will consider providing the list of their names to Supreme Court.

Modi thinks the media should increase its capability and take more responsibility.


16.02 | 0 komentar | Read More

Payment banks aren't financially inclusive: Chakrabarty

Statistician banker, K C Chakrabarty will end his four-year innings at Reserve Bank of India (RBI) this month. Chakrabarty came to RBI after a 30 year stint as a commercial banker in Bank of Baroda , then  Indian Bank and finally  Punjab National Bank (PNB). He became Deputy Governor in 2010 and brought with him his penchant for statistics, for economic theory and a passion for financial inclusion and customer service.

Also read: Kamath leads race to succeed Chakrabarty as RBI DG

RBI's efforts to stop penalties imposed by banks on those who prepay loans is largely due to Chakrabarty's efforts. He has also turned the heat on bankers to lend to the poor which he claims is economically more viable. Chakrabarty's sense of humour, command over statistics, his vast experience in banking and his irrepressible candor has been a source of much strength and challenge to the central bank.

In an interview to CNBC-TV18's Latha Venkatesh, Chakrabarty shares his views on the central bank, new banking licence and payment banks, as suggested by the Mor committee and the viability of the same.

Below is the edited transcript of the interview.

Latha: The Deputy Governor who is selected from the PSU bankers, your position, the monetary policy Deputy Governor and the Governor are only three outsiders in the RBI, the rest of it rises from the ranks. So, as an outsider how do you asses the RBI?

A: It is a good institution. I have worked in the commercial bank for 30 years. It is a dream for a commercial banker to become a central banker and very few people get this opportunity. So, I say RBI is a good institution and there's absolutely no doubt. It is a prestigious institution and it is an institution which has its own image. So, that is how I judge this thing.

Latha: You have as you said been regulated and now you are a regulator of the same entity that you once headed. How would you asses the strength of RBI in this area as a banking regulator especially now because you can compare – you are in the financial stability board, you can even compare other banking regulators.

A: All public institutions in our country have one greatest strength and one greatest weakness. Our greatest strength is that we know all our weaknesses and all our problems, then what is our greatest weakness- after knowing our weaknesses we don't do anything about that for several years. This is applicable to all institutions and this is applicable to RBI also.

The strength of RBI is knowledge. We have adequate knowledge though many people say RBI people don't know. We have good knowledge but what we don't have is the courage to convert that knowledge into action.

People complain that we don't have autonomy. I think at least financial autonomy is too much, but we don't have accountability. So, that becomes the weakness. Flexibility is there, autonomy is there. So the last thing is that we talk too much. We have produced reports but the action is less. This is applicable to all the public institutions in the country and RBI is no exception.

Latha: Image from outside is that RBI is a squeaky clean institution. Even its severest critics say that. Would you say that?

A: I don't think we can say that the average integrity level of a person in the RBI is dramatically different than the ones on the outside. I don't complain about the integrity of the people. However, what we don't consider is the lack of integrity of a person who takes a salary without doing the work. That is not considered as lack of integrity. My problem is there. In that way I think the society as a whole we are not having integrity; I think that is the greatest corruption in the society.

Q: Let met come from philosophical to more structural and tangible questions – under the new Governor in the last six months we have seen a lot of committees being appointed, the Urjit panel has laid out a new structure for monetary policy, the Mor Committee has laid out a new structure for banks, different kinds of banks. Are you getting a sense that everything that the Reserve Bank of India (RBI) manages monetary policy and banking and financial sector will look very different in the next three-four years?

A: Absolutely. No doubt in that. Change is part of our life. I think we have not done enough justice to Dr. Subbarao's tenure. A lot of changes have happened in the RBI and change is inevitable even if you do not appoint any committee, there will be change. So, definitely there is going to be the change and change is going to be for betterment.

Q: Can you take us through your idea of payment bank, do you expect mobile companies to join. What role will payment banks perform?

A: We do not have a model for doing that. What I understand is that they will be basically mobilising the deposits and they will be doing the payment services. I have no problem if we are able to do that efficiently but to say that mobile companies won't get a bank licence would be incorrect. If you are a fit and proper entity, and can do this job efficiently, then maybe they can get the bank licence. Then they have to apply for a bank licence.

Q: Do you think more likely it will be a bank-mobile company joint venture (JV) that will apply for this. What is your best guess?

A: I will not be able to say what will be the business model but my only question about the payment banks is what will be their viability. The question is that how will they earn money.

Q: They are going to take money like a current account.

A: People will not keep the money in the current account so easily. What I want to convey is that banks are out of assets and if you are earning less assets you will be giving on less liability.

And if one is giving less liability less in the competitive speed, it will be losing out. Okay, today there is a space where banks are not going and where one can start business, but tomorrow when the banks will start penetrating that area, then the smaller company may have a problem.

Yes, we can start with the experiment for those who are applying but they must have a transitory part that it will move to a full-fledged bank also.

Q: Do you see it as a very good bet for financial inclusion - this part, payment banks and they been able to reach every mobile customer – that is 870 million – that is much more than the bank.

A: Financial inclusion is credit and emergency credit also. In this case it is not financial inclusion. Let's say that payment service will be provided that is needed by the poor but the poor peoples maximum request is the emergency credit. So, as per our definition, it is not financial inclusion. Yes, we are providing certain service and we must experiment with this idea.


16.02 | 0 komentar | Read More

Arnold Holdings appoints Harshad Kela as whole time director

Written By Unknown on Kamis, 17 April 2014 | 16.02

Arnold Holdings Ltd has informed that Mr. Harshad Kela has been appointed as Whole time Director of the Company which is effective from March 28, 2014.

Arnold Holdings Ltd has informed BSE that Mr. Harshad Kela has been appointed as Whole time Director of the Company which is effective from March 28, 2014.Source : BSE

Read all announcements in Arnold Holdings


16.02 | 0 komentar | Read More

Don't see bond supply to be a challenge in near-term: StanC

The Reserve Bank of India will be auctioning bonds worth Rs 20,000 crore on Thursday which is likely to be one of the biggest auctions and is expected to add tremendous pressure in the market.

Speaking to CNBC-TV18, Ananth Narayan, Co-Head of Wholesale Banking for South Asia at Standard Chartered Bank says markets have already priced in the auction and there seems to be enough demand between banks and financial institutions to handle the supply.

Also Read: Bond yields at six-week low: Here's why

Narayan does not expect bond supply to be a challenge in near-term as there is huge demand which will match the upcoming supply. Narayan expects bonds to trade within 8.80-9.10 percent range going ahead. 

He, however, cautions market to expect heavy sell-off in all asset classes if election outcome turns out to be unfavourable.

Below is Ananth Narayan's interview with Ekta Batra and Anuj Singhal on CNBC-TV18.

Ekta: What is your view on the Rs 20, 000 crore auction? Do you think it will go through smoothly?

A: I think it will. The reality is that this has been a known factor. The market have been pricing this in for the last few days and more importantly there seems to be enough demand right now between banks and financial institutions to take on the supply which is relentless.

Credit off-take has remained low; the avenues for deployment of deposits for banks and institutions remains low and you also have a lot of redemptions which are going through at the moment including one, a couple of days back. So, there is a lot of replacement and genuine demand going through and in the short run, I do not expect supply to be an issue in terms of lack of demand. I think the demand will match the supply available.

Anuj: What is your call on the currency market? We have seen some stability come back around 60/USD mark. Do you think this is the zone now for the currency, half a rupee here or there?

A: The consolidation that we have seen in the last few days, it threatened at one point to break 59.70/USD and go below that but the consolidation is very healthy, otherwise dollar-rupee could have become a compressed spring waiting to spring after the election results come out. So, the stability that we have seen since September last year is healthy.

There are vulnerabilities in the system. Our external debt remains extremely high, a lot of dollarisation of debt has happened by corporate, our banking system and leverage corporate space remain little shaky. So, we do need inflows on a regular basis but we do need growth to come back to bolster inflows and therefore, keep balance of payments on even keel. But at the moment the base case seems to be one of continued consolidation, one of continued stability and that bodes well for the overall economy even bonds for that matter besides the short-term demand that we have from banks.

In long-term there is a bullish view coming around on bonds, if macro economic stability continues – it should augur well and bode well and give a lot more space for the RBI to rethink on rates and attract foreign institutional investors (FIIs) inflows into the bond space given the interest rate differentials.


16.02 | 0 komentar | Read More

Reliance Industries may test Rs 1000: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Reliance Industries may test Rs 1000 in the short term and Rs 1150-1200 in the longer term.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "One should hold on to Reliance Industries . It is just beginning an upmove. For a very short-term trader, the next target for Reliance once it comes up and it should, is about Rs 1000 that is a round figure target and it is approximately area. The longer term target could easily be Rs 1150-1200."

At 13:59 hrs Reliance Industries was quoting at Rs 956, up Rs 14.95, or 1.59 percent. It has touched an intraday high of Rs 957.50 and an intraday low of Rs 944.40.

The share touched its 52-week high Rs 972.90 and 52-week low Rs 765 on 10 April, 2014 and 28 August, 2013, respectively. Currently, it is trading 1.74 percent below its 52-week high and 24.97 percent above its 52-week low. Market capitalisation stands at Rs 308,995.20 crore.


16.02 | 0 komentar | Read More

Writ petition filed in SC with respect to HZL divestment

The Supreme Court has admitted the petition and has also issued notice to the government, CBI and the company. The court has also sort for a reply within a month.

A writ petition has been filed in the Supreme Court with respect to the  Hindustan Zinc divestment that says the government must not divest stake in HZL without amending Metal Corp Act.

The petition has been filed by National Confederation of Officers and others against further disinvestment of government shareholding in Hindustan Zinc without amending the statute. Hindustan Zinc was incorporated under Metal Corporation Act.

Also Read: HZL, Balco stake sale: EC nod sought for appointing valuers

The Supreme Court has admitted the petition and has also issued notice to the government, CBI and the company. The court has also sort for a reply within a month.

The matter was heard on March 28.

The petition has also requested the court to make CBI investigation reports, but CBI has already filed initial inquiry for alleged irregularities in disinvestment of government share in Hindustan Zinc in November last year.

Government is currently holding 29.5 percent stake in Hindustan Zinc and majority shareholding is with Vedanta Resources though the Cabinet Committee on Economic Affairs has approved the residual stake sale in Hindustan Zinc this year in January.

Market will have to wait for the next hearing to see what implication it will have on the process of disinvestment in Hindustan Zinc.


16.02 | 0 komentar | Read More
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