Your Ad Here

Friday, August 10, 2012

Sensex remains in negative territory as weakness persists



The market, which opened on a weak note amid mixed global cues, continues to languish in negative territory with several key stocks from automobile, power, capital goods, metal and banking sectors trading weak on selling pressure.

Realty stocks, which found modest support early on in the session, are drifting lower now. Pharmaceuticals, information technology and FMCG stocks are off their highs. Select oil stocks are trading firm. Activity remains stock specific in midcap and smallcap segments.

At 17,540, nearly 40 points off the day's low of 17,503.57, the Sensex is now down 20.87 points or 0.12% from its previous closing mark. The Nifty, which had drifted down to 5303.75, is down 11.95 points or 0.22% at 5311 at present.

In the currency market, the rupee drifted down against the daoll, easing to 55.43 in early trades. On Thursday, the partially convertible Indian currency had settled at 55.27 against the greenback, recording a gain of 15 paise, thanks to strong dollar inflows.
Tata Motors and Hero Motocorp are trading lower by around 2.4% at Rs 233.60 and Rs 1912, respectively. Bajaj Auto is down 1.3% at Rs 1669 and Mahindra & Mahindra is trading 1.2% down at Rs 735, while Maruti Suzuki is up in positive territory with a gain of 1.2% at Rs 1158.50.

Tata Power is trading lower by 1.6%. Coal India, BHEL, Jindal Steel, Tata Steel, HDFC, HDFC Bank, Larsen & Toubro, Dr Reddy's Laboratories and Wipro are down 0.5% - 1.2%.

Bharti Airtel and Tata Consultancy Services are up more than a percent at Rs 260 and Rs 1271.50, respectively. Sterlite Industries, Reliance Industries, ITC, Cipla and Hindustan Unilever are up with modest gains.

State Bank of India is up marginally at Rs 1976 amid cautious trades ahead of announcement of results. Meanwhile, UBS has downgraded the stock's rating ahead of results, stating that it is quite high priced at present.

GMR Infrastructure, Mphasis, ABB, JP Infratech, Power Finance Corporation, Ranbaxy Laboratories, Engineers India, IDFC, IFCI, Reliance Capital, SAIL and Reliance Infrastructure are down with sharp losses.

Jain Irrigation Systems is up by over 6.5% on strong buying support. Indraprastha Gas has gained a little over 5.5%. Tech Mahindra is trading nearly 3% up thanks to impressive results.

Petronet LNG, Pipavav Defence, Idea Cellular, Aurobindo Pharma, Wockhardt, Zee Entertainment, Suzlon Energy, Apollo Tyres, MMTC, Shree Cement and Oracle Financial Services are also trading notably higher.
sify finance news
www.marketfutureindia.com

UBS downgrades SBI to 'sell' ahead of earnings



UBS downgraded State Bank of India to 'sell' from 'buy', saying a weak monsoon would add to its 'already high' non-performing loans while expecting margins to decline due to rising cost of funds and potential cuts in the lending rate.
UBS lowered its fiscal 2013 and 2014 earnings forecasts by 13 per cent, while reducing its 12-month price target on India's biggest private lender by 30 per cent to Rs 1,800, in a note released late on Thursday.
SBI is due to report its April-June earnings later in the day.
The stock fell 4.5 per cent to Rs 1,968.75 on Thursday, its biggest daily percentage fall since February 22, because of worries it would report disappointing earnings.
deccan chronical

Thursday, August 9, 2012

Please read very carefully


Is the market rally just a set-up for a bigger 'collapse'?

Global stocks have been rallying in recent weeks, climbing a "wall of worry" and confounding the bears, leading a number of strategists to warn the gains are unlikely to last and investors should remain cautious.

"I think we're in choppy waters and that continues. You've got to remember to sell if you own the stock market now," Charlie Morris, Head of Absolute Return at HSBC Global Asset Management told CNBC Europe's "Squawk Box" on Wednesday.

Morris says with bad news on the global economy over the past year, the market had "tried to collapse", but with so many people short stocks, the conditions hadn't been ripe. That, he says, could change after the current rally ends.

"You need to trip the market to have a proper collapse. So you almost need to set it up with a rally, get everyone excited and then it can fall," Morris said. "If there are risks, the risks to a very negative market come after this rally fades."

US stocks gained for a third consecutive session on Tuesday with the S&P 500 finishing above 1400, while European stocks hit a 4-month high on expectations policymakers will soon decisively address the region's debt crisis. Asian stocks also hit a three-month high on Wednesday, with Japan's Nikkei breaking above its 75-day moving average.

Sandy Jadeja, Chief Technical Analyst at City Index told CNBC on Tuesday that despite being bullish on the Dow for the past two weeks he was now growing concerned. He said there was a clear divergence between the technical indicators and the current price levels on longer-term charts for the Dow.

"Watch out for the end of this week, if we start seeing a negative close by the end of the week, that would suggest that next week, and the week after, we'll start pushing to the lower side."

Other market watchers have been warning that based on economic fundamentals, the current rally is irrational. "The rally on Friday after the release of the employment figures and the consumer confidence index really has no economic merit," Dan Geller, chief research officer of the Money Market Index economic index told CNBC Monday. (Related: Jittery Market Basics)

Barclays equity strategist Barry Knapp also pointed out in a note to clients on Wednesday that the underlying factors in terms of "expectations of US and global growth deterioration, less accommodative monetary policy, earnings growth deceleration and elevated public policy uncertainty" were the same as they had been in the second quarter when US stocks dropped 10%.

He said investors who were defensively positioned could buy call options on small cap stocks and select cyclical stocks to ensure they didn't lose out on the rally. But, he added: "We remain unconvinced that investors should chase the low volume 'wall of worry' August rally."
Moneycontrol news

Choppy Sensex drifts lower; SBI, Bharti, RIL extend losses

Indian shares drifted lower with marginal losses due to further selling in Bharti Airtel, State Bank of India and Reliance Industries. Capital goods and banks stocks too were under pressure while the buying in FMCG, power, technology majors and Coal India capped the downside.

The BSE benchmark was down 55.46 points to 17,545.10 and the NSE benchmark fell 17.30 points to 5,320.70.

Country's largest telecom operator Bharti Airtel extended losses to 5.7% from 4% in afternoon trade as investors disappointed with the first quarter perfomance of telecom leader. Company expects the possibility of further fall in EBITDA margin.

Top lender State Bank of India tanked nearly 4% after the weak industrial output data in June. Market experts feel the Reserve Bank of India may not cut policy rates in the September policy, even after disappointing data. PNB declined 1% and Axis Bank was down 0.5% whereas HDFC Bank gained 0.8%. Housing finance company plunged 3%.

Index heavyweight Reliance Industries dropped 1.5%. Top commercial vehicle maker Tata Motors (ahead of Q1 results today) and private oil & gas producer Cairn India (as Rahul Dhir will step down at MD and CEO with effect from August 31) tanked nearly 3%.

State-owned oil retailer BPCL tumbled 2.7% ahead of numbers of its peers HPCL and IOC today. Ranbaxy Labs declined 1.5% ahead of Q1 earnings today.

Coal India, country's largest coal mining company, gained more than 2%. Sterlite Industries topped the buying list with gains of 3.6%.

FMCG majors ITC and HUL were up 1.3% and 2%, respectively. Top software services exporter TCS rose 0.8%.

Utility vehicle maker Mahindra & Mahindra rallied over 2% following a rally of 4% yesterday after strong numbers in Q1.

Money Control news

Research reveals the motivation behind our love of horror


IT'S terrifying. It's horrible. It's unavoidable. A new study reveals our love of horror is deeply burnt into our DNA.

Terror. Disgust. Fear. It seems odd that we would deliberately place ourselves in a theatre, knowing full well we're about to be shocked to the core.

But a research paper by a PhD student in Denmark shows we may have an ingrained urge to learn how to adapt to stressful situations.

This motivation, buried deep within our survival instincts, emerges in force at the prospect of a new, fearful situation, Mathias Clasen of Aarhus University reports.

Thus the appeal of horror movies, books, comics and theatre - even though we're unlikely to run into a lion or human carcass on the way to the supermarket

"When our ancestors lived as hunter-gatherers in the East African savannah, it was important that they were prepared for possible attacks by predators and vermin," Clasen said.

"They had to train their reactions to stressful situations, and the desire to do so became stored in their DNAwhich we still carry today. When we watch a horror movie, we're satisfying that desire. We're training our danger preparedness."


The chestburster scene from 'Alien'. We have an ingrained desire to learn how to adapt to stressful situations, motivating our love of horror in all its forms.

Clasen takes his idea further, examining the specific fascination we have with zombies.

Our hunter-gatherer ancestors learnt early on to fear rotting corpses due to their association with disease, he said. Combine this with the basic fear of being eaten, and you have a double-barrelled fear whammy.

"It's actually just like other mammals young, who fight for fun because it makes evolutionary sense later on in life when they will need to fight to the death ... We use fiction as an 'emotional simulator' to broaden our horizons," he said. "Horror fiction exercises our reactions to what's terrible and frightening."

Clasen analysed numerous horror movies and books to extract the
essence of terror common to them all. But, beyond teeth, creepy crawlies and decay, he identified many cultural, temporary fears.

Not everything is based on biological impulses, it would seem.

"Of course there is also a cultural aspect to our understanding of horror. It is, for example, necessary to understand the language in which Dracula is written. And a film like The Exorcist was made at a special time when some specific problems were debated," he says.
"The mother loses grip on her daughter, and thats a parable on other things that occurred in society. In order to understand this, we need to know about Western culture in the 70s'

Now, it is time for Clasen to turn his hypothesis into a full-blown theory.

"I would, for instance, like to see if the brains of people from different cultures react uniformly to the same scene in a horror movie," he said. "If they do, that would support my theory."

He did not specify whether the brains still had to be attached to their parent body...
news au
www.marketfutureindia.com

Bank staff threaten two-day strike from August 22

The All India [ Images ] Bank Employees' Association (AIBEA), which represents the employees of the public-sector banks, has threatened to go on a two-day strike from August 22, against the government's proposed Banking Bill, closure of rural branches and other set of banking sector reforms.

In a circular to the members, C H Venkatachalam, general secretary, AIBEA, said "the attacks are increasing and the IBA/government are indifferent to our demands. Hence UFBU has given the call to revive the agitation and struggle programmes.

Further, the government is also proposing to amend the banking laws during the current session of Parliament. UFBU has therefore, decided that they should be ready for instant protest strike in such an eventuality".

"...a bipartite meeting between the IBA and UFBU on July 24, 2012 was held as per the advice of the Deputy CLC. While we have explained all our demands to the IBA in detail and emphasised the need for an amicable solution to the issues, the IBA has remained unresponsive till date. In view of this, as decided in UFBU meeting held after our discussions with the IBA, we have served the strike notice on IBA," read the circular.

The main issues include settlement of pending demands, stopping arbitary guidelines of human resource issues, stopping unilateral implementation of Khandelwal Committee Recommendations, a freeze on outsourcing of bank jobs, a hold over banking sector reforms and non-closure of rural branches.

"It is also learnt that in the ensuing monsoon session of Parliament, the government is proposing to get the Banking Law Amendment Bill passed. The proposed amendments to the Banking Regulations Act and Bank Nationalisation Act are unwarranted and aimed at further de-regulating and liberalising the banking sector with increasing voting rights for foreign and corporate investors, etc.

Hence, as decided in our last meeting, all our unions and members are ready for an instant strike if the government would suddenly bring the Bill for consideration by Parliament," said Venkatachalam.
rediff news
www.marketfutureindia.com

'Pak increasing its nuclear arsenal to counter India'


Primarily aimed at India, Pakistan is making qualitative and quantitative improvements to its nuclear arsenal and "could increase the number of circumstances under which it would be willing to use nuclear weapons," a Congressional report has said.
"Pakistan appears to be increasing its fissile production capability and improving its delivery vehicles in order to hedge against possible increases in India's nuclear arsenal.
"Islamabad may also accelerate its current nuclear weapons efforts," the independent Congressional Research Service (CRS) said in a report.
In addition to making qualitative and quantitative improvements to its nuclear arsenal, Pakistan could increase the number of circumstances under which it would be willing to use nuclear weapons, the report said.
rediff news

Wednesday, August 8, 2012

Bharti Falls To Two-Year Low On Goldman Downgrade: Mumbai Mover


Bharti India's largest mobile operator, fell to its lowest level in more than two years in Mumbai trading after brokerages including Goldman Sachs Group Inc. downgraded the company on concerns about rising expenses.
Bharti fell as much as 4.7 percent to 261.40 rupees, the lowest intraday level since July 2010, and changed hands at 263.60 rupees as of 10:05 a.m. The stock was the biggest loser on the benchmark Sensitive Index (SENSEX), which rose 0.3 percent. The New Delhi-based phone operator plunged 6.6 percent yesterday after reporting earnings that missed analysts’ estimates.
Goldman Sachs and Standard Chartered Plc cut their ratings on expectation the company will have to boost promotion costs as it seeks to grow market share in India and Africa. Bharti, controlled by billionaire Chairman Sunil Mittal, said yesterday that telecommunications revenue in India were depressed because of “hyper-competition” and higher network costs.
“The disappointment was more on costs, than on revenue,” Standard Chartered analysts Rahul Singh and Saurav Anand said in a note dated yesterday. The bank lowered its rating to in-line from outperform and reduced the price target to 274.35 rupees from 300 rupees.
Bharti’s profit will see an impact from competition for the next 12 to 15 months, compared with the six to nine months predicted earlier, the analysts wrote in the note.
Price cuts and promotions offered by the company to maintain and regain market share in India will spur “aggressive responses” from competitors, wrote Sachin Salgaonkar, an analyst at Goldman Sachs, in a note to clients yesterday. He cut his rating to neutral from buy, adding that Bharti’s “aggressive spend” will affect its Ebitda margins and profitability.
Bloomberg news
www.marketfutureindia.com

OUR BUY CALL 09-08-12

OUR BUY CALL JUBFOOD, M&M, AND HERONOTOCO IS FIRE IN FIRST HRS.
www.marketfutureindia.com

June IIP contracts 1.8% on weak investment, falling exports

India’s factory output, measured by the index of industrial production (IIP), contracted -1.8 per cent in June 2012 from the same period in the past fiscal, against expectations of 1 per cent growth.

The figure for May has been revised to 2.5 per cent from 2.4 per cent. Forecasts ranged from a decline of 2.7 per cent to a rise of 2.5 per cent.

Manufacturing, which constitutes about 76 per cent of industrial production, shrank to -3.2 per cent from a year earlier, data showed. The biggest drag, however, was capital goods, which slumped to -28 per cent.

The decline in IIP was partly on account of the high base effect.
"-1.8 per cent has to be read in terms of significant base effect. Capital goods are clearly the significant driver in terms of taking the growth in the negative territory... even sequentially the momentum has been slowing," Dr. Shubhada Rao, chief economist at YES Bank told NDTV Profit.

Shares in power equipment manufacturer BHEL and engineering and construction firm L&T saw selling pressure after a sharp decline in capital goods production.

The deceleration suggests that the economy remains on a slowing course and the pickup in the pace of factory production in May following a contraction the previous month may have been a blip.

Industrial output accounts for a little over 15 per cent of gross domestic product (GDP) and the consensus points to more weakness ahead for the Indian economy, which grew at its lowest annual rate in almost a decade, just 5.3 per cent in the quarter to March.
NDTV NEWS
www.marketfutureindia.com

How much can you lose in equity?


People, sometimes, have no rules, limits, and have no clue on how to invest in equities. These people can, should and do lose their shirt, pants and undergarments and full well deserve it.
Let us say you are a well qualified, sensible, boy or girl and wish to invest in equities. Well if you do not want to be an active participant, you could choose a mutual fund. If you do not trust fund managers (I trust only 5 out of the 100 odd that I would have met), choose an index fund – the cheaper (and with lesser tracking error too) the better.
But if you want to be a little more adventurous and wish to invest in direct equities follow these rules so your losses are limited to the minimum.
Let us say you are 35 years and wish to create a portfolio. You are a woman, earning Rs. 8 lakhs, and are not the primary provider of the house. So you can take a little more risk than a man, who is the primary provider.
So let us say you have Rs. 10 lakhs to invest, and influenced by this site, you decide to put Rs. 8 lakhs in equities.
Rule No.1: NOT more than 80% of the SECONDARY earner’s portfolio will be in equities.

Rule No. 2: NOT more than 5% will be invested in ONE Company, as an initial investment. In case the share does well, we will LET it go up to 25% of one’s EQUITY portfolio. Anything in excess will be constantly sold off.
Let us say you are able to add Rs. 20,000 to the equity portfolio every month, and this share is also going up every month, it will take a real long time to breach the upper limit (unless you have picked one diamond and all other duds!).

Rule No. 3: Industry diversification I will learn or copy from a good fund manager’s portfolios, and I will buy only in group A, or B1. I will NOT touch a share in group B2, or T2T….even if someone says these are future blue-chips.

Rule No. 4: I will keep a 25% trailing stop loss. Let me explain. You have bought Rs. 40,000 worth of Carborundum Universal (my examples are obviously from my portfolio, and my cost of this share is Rs. 3.59 per share, thanks to split and bonus, so if you want to copy me, go to 1990, or create your own portfolio). Suddenly the shares value falls to Rs. 30,000. You will do nothing. However on the day it falls below 30,000, you will sell. Knowing how to cut losses is as important as knowing how to let profits run.

Rule No. 5: I will review my portfolio on a quarterly basis. I have no business managing my own portfolio unless I can beat the index. Clearly if you beat the index for the first year, then the second year, then the third year…you are doing well. If you do not beat it for the first four quarters – and are trailing by a huge margin, sell and go to a good fund house.
Now, With all these rules in place how much can you lose?
Rs. 800,000 is the total investment, Rs. 40,000 is the maximum exposure to one stock, 25% is the trailing stop loss- so you can lose about Rs. 10,000.
Considering your liquid net-worth is Rs. 10,00,000 you stand to lose about 1% of your net-worth. Not an amount you need to lose sleep over.

The author P V Subramanyam is a Chartered Accountant by qualification and a financial trainer by profession. Writing being a passion he also regularly pens his thought in his blog
Yahoo News

Market Future India: OUR SELL CALL SILVER @ 53384 HIT FIRST TARGET

Market Future India: OUR SELL CALL SILVER @ 53384 HIT FIRST TARGET: SILVER FUT 5 SEPT 1 MCX SELL BELOW @  53384 TARGET 53287 MORE TIPS SEE ON www.marketfutureindia.com

OUR SELL CALL SILVER @ 53384 HIT FIRST TARGET

SILVER FUT 5 SEPT 1 MCX SELL BELOW @  53384 TARGET 53287

MORE TIPS SEE ON

www.marketfutureindia.com

Tuesday, August 7, 2012

Tata Chemicals goes ex-dividend


 board of directors in their meeting held on May 30, 2012 has recommended payment of dividend at Rs 10 per share.

At 09:34 hrs the share was quoting at Rs 303.90, down Rs 4.60, or 1.49%. It touched an intraday high of Rs 304.85 and an intraday low of Rs 300.

It was trading with volumes of 13,778 shares. In the previous trading session, the share closed down 0.72% or Rs 2.25 at Rs 308.50.

The company's trailing 12-month (TTM) EPS was at Rs 16.03 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 18.93. The latest book value of the company is Rs 196.94 per share. At current value, the price-to-book value of the company was 1.54. The dividend yield of the company was 3.29%.
Moneycontrol news
www.marketfutureindia.com

Sensex rangebound; metals, auto, tech gain


MUMBAI: The Sensex is rangebound with a positive bias on the back of optimistic cues from global peers. Metals, auto, IT and power sectors led the upmove while realty and capital goods edged lower.

"P. Chidambaram hinted at a course correction in economic policy, lifting stocks and the rupee. Hopes have been building up for quite a while now but not much has materialised so far. Market participants still appear to be hopeful though. The biggest catalyst for the continuation of the current rally will be positive policy action. Intent alone won't do from here on. Keep an eye on the monsoon session of Parliament," an IIFL report noted.

At 11:00 a.m., the 30-share BSE index was at 17,649.93, up 48.15 points or 0.27 per cent. It has touched a high of 17,679.37 and a low of 17,605.62 today.

The 50-share NSE Nifty was 5,350.40, up 13.70 points or 0.26 per cent. It has touched a high of 5,361.40 and a low of 5,338.70 today.

The monsoon session of Parliament begins today. Key bills before Parliament include Companies Bill, Forward Contracts Regulation Bill, Banking Amendment Bill, Mining Bill, Insurance Bill, Pension Bill, Land Acquisition Bill and Prevention of Money Laundering Bill.

"The current price action on the daily chart suggests a further upside momentum. However, on the hourly chart, prices have tested the supply zone of 5,362 but have closed below it. If the Nifty trades convincingly above 5,370, then it may test 5,400-5,420 levels. On the flip side, a corrective move up to 5,294-5,271-5,249 cannot be ruled out as the hourly chart is in an overbought zone," an Arihant Capital Market report noted.

The BSE Midcap Index was up 0.39 per cent and the BSE Smallcap Index moved 0.30 per cent higher.

Among sectoral indices, the BSE Metal Index was up 1.61 per cent, the BSE Auto Index gained 0.92 per cent and the BSE IT Index moved 0.50 per cent higher while the BSE Realty Index was down 0.37 per cent.

Jindal Steel (2.45 per cent), Hindalco Industries (2.19 per cent), Sterlite Industries (2.16 per cent), Mahindra & Mahindra (1.88 per cent) and Tata Motors (1.42 per cent) were the major Sensex gainers.

Bharti Airtel (2.96 per cent), GAIL (2.23 per cent), ONGC (1.38 per cent), TCS (1.15 per cent) and HDFC Bank (0.47 per cent) were the major losers.

Shares of Indiabulls Group companies pared most of the intraday lows after reacting sharply to Veritas report which recommended selling all group stocks.

"We believe that disclosures at IndiaBulls Real Estate Limited and IndiaBulls Power are unreliable and that the sole purpose of IBREL is to bilk institutional and retail investors for the benefit of select insiders. The controlling shareholders are running the organization as a piggybank, while proclaiming propriety and espousing credibility," the report alleged.

The market breadth was positive on the BSE with 1,263 gainers against 1,055 losers.

Foreign institutional investors bought equities worth Rs 815.95 crore on Tuesday, as per provisional data from NSE.

Asian markets remained firm on hopes of some announcements on fiscal stimulus measures by global central banks. The Nikkei 225 was up 0.74 per cent, the Seoul Composite gained 0.86 per cent and the Taiwan Weighted moved 0.37 per cent higher.

Overnight, the US markets rose for the third consecutive session. The Dow was up 0.4 per cent, the Nasdaq rallied 0.9 per cent and the S&P rose 0.5 per cent. The upmove was led by gains in energy shares.
The Economic Times News

Bharti shares decline 4% on Q1 numbers


Bharti Airtel scrip today plunged over 4 per cent as the company’s net profit declined 37 per cent for the first quarter ended June 30, 2012 — the tenth straight quarterly fall.
Following the disappointing set of numbers, the shares fell 4.4 per cent to Rs 280.85 on the BSE. On the NSE, the scrip lost 4.49 per cent to Rs 280.60.
The stock was the worst performer among the BSE 30 blue-chip Sensex scrips in the early trade.
Bharti Airtel’s net profit fell 37 per cent to Rs 762.2 crore for the first quarter ended June 30, 2012 against Rs 1,215.2 crore in the same period last fiscal, the company said in a statement.
Total revenues were, however, up by 14 per cent to Rs 19,350 crore in the quarter against Rs 16,975 crore in Q1 FY’12, marked by 31.5 per cent growth in Africa and 44.2 per cent increase in mobile data revenues from India.
Business Line News

Union minister Vilasrao Deshmukh critical, put on life support


Chennai, Aug. 7 -- A critically ill Union science and technology minister and former Maharashtra chief minister Vilasrao Deshmukhwas rushed to a Chennai-based super specialty hospital and admitted there late on Monday evening.
He was brought to Chennai from Mumbai in an air ambulance on Monday evening from Mumbai.
Deshmukh was undergoing treatment at Breach Candy hospital in Mumbai, where he was admitted a week ago. He was suffering fromcirrhosis of liver and his two kidneys dysfunctional.
When his condition deteriorated further, he was put on life support systems and it was then decided to shift him to Chennai in an air ambulance, sources said.
In Chennai, doctors at Global Health City, hoped to carry out liver transplant once his condition stabilized. At present he is on ventilator.
It was around 6pm on Monday when the ambulance jet landed in Chennai from Mumbai.
It took some time for Dekhmukho be shifted to an ambulance and driven to hospital at Tambaram, closer to city airport.
His wife Vaishali and two of his sons including actor Ritesh Deshmukh accompanied him on the air ambulance from Mumbai, airport sources said.
Global Hospital sources confirmed that the union minister was admitted for liver ailment.
World renowned liver transplant expert, Dr Mohammed Rela of the Kings Hospital, London, is also the head of the Global's Centre for Hepato-Pancreato-Biliary and Liver Transplantation.
It is under his care that the former Maharashtra chief minister would be getting treatment.
But, so far, neither the Global Health City nor the government have requested for a liver on his behalf, sources at the TN Organ Sharing Network maintain.
Once a request is made, finding a cadaver matching his blood type would be a difficult task, the sources said.
Yahoo news

HIGH ALERT :-> IF NIFTY CROSS AND CLOSE ABOVE

HIGH ALERT :-> IF NIFTY CROSS AND CLOSE ABOVE 5329 FOR THREE CONSECUTIVE DAYS THEN TARGET IS 5824.
more tips and target see on
www.marketfutureindia.com

CLSA upgrades Jet Airways to 'buy' with a target price of Rs 500


MUMBAI: CLSA has upgraded Jet Airways to 'buy' from 'sell' earlier after the airline carrier reported better-than-expected quarterly results on the back of rising yields and high cost discipline. The company reported pre-exceptional profit before tax of Rs 45.6 crore after five successive quarters of losses.

"Yield improvements, particularly in the international business, helped drive 30% revenue growth. Costs remained under control and helped drive a 113% YoY increase in Ebitdar," the brokerage said in a report.

CLSA is of the view that a strong yield environment, focus on route utilisation and tight cost control should help sustain performance.

"Given the improved performance in international and cost discipline in domestic, we now expect improved profitability over FY13-14, driving significant upgrades. Continuing strength in operating performance and debt reduction leaves room for upside," the report said.

The brokerage has upgraded the stock with a target price of Rs 500, an upside of 30 per cent, from the current market price.

Institutions have turned bullish on the Indian aviation sector after both Jet Airways and Spicejet reported robust quarterly results.

Bank of America-Merrill Lynch has upgraded Jet Airways and SpiceJet to 'buy' from 'underperform' on expectations that these companies would return to profit in FY14. It has increased Jet Airways price target to Rs 480 from Rs 210 earlier.

At 11:10 am, the stock was at Rs 383.50, up 1.58 per cent, on the BSE. It touched a high of Rs 384.75 and a low of Rs 378 in trade today.
The Economic Times News

Gold futures rise on spot demand


NEW DELHI: Gold prices rose by Rs 52 to Rs 29,980 per 10 grams in futures trade on Tuesday as speculators created fresh positions on rising demand in spot markets.

At the Multi Commodity Exchange, gold for delivery in October rose by Rs 52, or 0.17%, to Rs 29,980 per 10 grams, with a business turnover of 2,145 lots.

Similarly, the metal for delivery in December moved up by Rs 49, or 0.16%, to Rs 30,321 per 10 grams in 34 lots.
THE TIMES OF INDIA NEWS

Sensex above 17,500; IT, auto, realty up

MUMBAI: The Sensex extended intraday gains on Tuesday and was comfortably placed above the 17,500 mark, led by gains in technology and rate-sensitives sectors. According to dealers, the comments made by the finance minister P Chidambaram yesterday on the roadmap to revive economy were providing support to the benchmarks. 

In his speech after taking over the finance ministry, Chidambaram said that the government will work with the RBI to tame inflation in the medium term. He added that a path of financial consolidation will be unveiled shortly. On reforms front, the minister said corrective measures will be taken in bringing clarity in tax laws. 

"We think the finance minister has struck the right note with the investor community, with a focus on key areas that need attention, viz. fiscal consolidation, reinvigorating reforms and easing supply-side constraints by focusing on infrastructure," said a Nomura report, adding, "Finally, the finance minister's statement on interest rates suggests that there will be political pressure on the RBI to cut interest rates." 

At 12:30 pm, the 30-share BSE index was at 17,544.74, up 131.78 points or 0.76 per cent. It touched a high of 17,549.52 and a low of 17,417.92 in trade today. 

The Nifty was at 5,314.60, up 32.05 points or 0.61 per cent. It touched a high of 5,324.25 and a low of 5,281.65 in trade today. 

"There has been a fresh buy signal from momentum oscillator MACD on the daily chart, the fast Stochastic is trading in an overbought state which could keep proceedings confusing for some more time," said an Edelweiss report. "We have turned neutral on the market view on lack of direction coupled with low volumes, but remain mindful of a sustainable breakout above 5,300 or a breakdown below 5,100 (200 SDMA), and prefer to stick to stock-specific activity where there is clarity of trend," the report added. 

The BSE Midcap Index was up 0.51 per cent and the BSE Smallcap Index moved 0.47 per cent higher. 

Among the sectoral indices, the BSE IT Index was up 1.57 per cent, the BSE Realty Index gained 1.39 per cent, the BSE Auto Index moved up 1.32 per cent and the BSE Bankex gained 0.90 per cent. The BSE Oil & Gas Index was down 0.19 per cent. 

Tata Motors (3.24%), Bajaj Auto (1.96%), Infosys Technologies (1.61%), TCS (1.59%) and Jindal Steel (1.51%) were the major Sensex gainers. 

Hero MotoCorp (1.40%), Reliance Industries (0.70%), NTPC (0.24%), HDFC Bank (0.12%) and M&M (0.04%) were among the losers. 

The market breadth was positive on the BSE with 1370 gainers against 1078 losers. 

The foreign institutional investors bought equities worth Rs 555.73 crore on Monday, as per provisional data from the NSE.
moneycontrol news
www.marketfutureindia.com

OUR BUY CALL HIT TARGET


OUR BUY CALL MARUTI, RELINFRA, BOC, CHENNAPETRO ALL HIT THE TARGET. JOIN US IN JUST 1500/- FOR SIX MONTH.

Monday, August 6, 2012

Bata India has target of Rs 1050: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Bata India  has target of Rs 1050.

Sukhani told CNBC-TV18, "Bata India made those new highs, which it has been doing on Friday and that were when the markets were a little confused. Those new highs also confirmed a bullish pattern, some kind of a continuation of the uptrend and that gives a target of Rs 1050 now. That’s fairly ambitious, that’s 15% up. But Bata has been doing the right things. I think it is now still on a roll, there is much more upside.”

He further added, “If this market is going up and it could well be, so we are just following the momentum. If it doesn’t go up we’ll have to suffer that setback. But if it is going up then midcap stocks are going to go with it and certainly probably outperform.”

“ Jain Irrigation  has completed its bear market. It made a double bottom, rallied, then it went through a very sever and sharp correction after the rally. That’s good news because we can buy it lower. So around Rs 75 where it stands now, Jain Irrigation has completed a correction and it is probably going to resume its uptrend. This could be a significant up move. So it is not just a day trade. If the trade goes in our favor, we should carry it on.”
Moneycontrol news

Sunday, August 5, 2012

अमेरिका में गुरुद्वारे में अंधाधुंध फायरिंग, आठ मरे


न्यूयॉर्क। अमेरिका के विस्कोंसिन में रविवार को गुरुद्वारे में कुछ अज्ञात हमलावरों ने गोलीबारी की। इसमें एक हमलावर सहित करीब आठ लोगों के मारे जाने की खबर मिली है। इसमें 20 से अधिक लोग घायल भी हुए हैं।

अमेरिकी मीडिया के मुताबिक दो-तीन हमलावरों ने गुरुद्वारे में कुछ बच्चों सहित करीब 150 लोगों को बंधक बना लिया है। अमेरिका में भारतीय राजदूत निरुपमा राव के मुताबिक यह घटना ओक क्रीक शहर में हुई। पुलिस ने सूचना मिलते ही गुरुद्वारे को घेर लिया। एक चश्मदीद ने पुलिस को बताया है कि गोलीबारी करने वाला भारी भरकम शरीर का श्वेत व्यक्ति था। उसके पास को दो हैंड गन थीं। पुलिस से कोई ब्योरा नहीं मिला है।

विदेश मंत्री एसएम कृष्णा ने भी निरुपमा राव से बात की। उन्हें राव ने बताया कि वे व्हाइट हाउस से लगातार संपर्क में बनी हुई हैं। पंजाब के मुख्यमंत्री प्रकाश सिंह बादल ने इस घटना की निंदा की है।
 bhaskar news

Rising NPAs banks’ biggest worry


The nation’s largest lender, State Bank of India (SBI), has cut interest rates on home and auto loans although the cost of money hasn’t reduced. The one percentage point cut in banks’ compulsory bond holding, or the so-called statutory liquidity ratio (SLR), has done the trick.
The Reserve Bank of India (RBI) last week cut banks’ minimum bond holding from 24% to 23% and SBI wants to take advantage of that. The cut will free up around Rs. 10,000 crore for the bank and it wants to use it to earn higher returns. Typically, a bank earns around 7.5% from investments in bonds but returns from retail assets such as home loans, auto loans and, particularly, personal loans, is much higher.
For the entire banking industry, one percentage point cut in SLR will free around Rs. 62,000 crore. If all banks explore the opportunity and follow SBI’s example, they can cut loan rates, at least in some segments.
However, this is easier said than done. Although the banks till now are required to invest 24% of their deposits in government bonds (the new norm, 23%, takes effect from 11 August), many banks have invested around 30% of their deposits in bonds. This means they could have liquidated their excess SLR holdings even before the RBI announcement and used the money to give loans. They have not done so and probably will not do even after the SLR cut simply because government paper is a risk-free asset while loans can turn bad. Banks need to set aside money for bad loans and that affect their profitability. In fact, provisions for bad loans could more than offset higher income from loans.

Barring a few exceptions, most banks’ bad loans are rising. Except for SBI, United Commercial Bank and Andhra Bank, all state-run banks have announced June quarter earnings. In private sector, Dhanlaxmi Bank Ltd, Jammu and Kashmir Bank Ltd and Lakshmi Vilas Bank Ltd are yet to announce June quarter earnings. A look at the industry’s earnings makes it clear why they are not excited about giving loans. Central Bank of India, Union Bank of India and Punjab National Bank—three large public sector banks—have piled up the maximum bad loans in past one year. In absolute terms, Central Bank’s gross non-performing assets (NPAs) have grown more than two-and-a-half times in past one year, from Rs. 2,883 crore to Rs. 7,510 crore. For Punjab National Bank, it’s more than doubled, from Rs. 4,894 crore toRs. 9,988 crore. Union Bank’s gross NPAs have grown 1.75 times—from Rs. 2,883 crore to Rs. 6,541 crore. On a relatively smaller base, Corporation Bank’s gross NPAs, too, have doubled, from Rs. 848 crore to Rs. 1,689 crore, while Indian Bank’s gross bad loans jumped from Rs. 806 crore to Rs. 1,554 crore between June 2011 and June 2012.
Indian Bank, however, has been able to bring down its gross NPAs in the June quarter from March quarter. Two other public sector banks have done so—Oriental Bank of Commerce and Bank of Maharashtra.
In the private sector, ICICI Bank Ltd has been able to marginally bring down its gross bad assets in June 2012 from June 2011, although they have risen from the quarter ended March. Development Credit Bank Ltd’s gross NPAs have been progressively coming down since June 2011. HDFC Bank Ltd, Axis Bank Ltd, Kotak Mahindra Bank Ltd, IndusInd Bank Ltd, ING Vysya Bank Ltd and Karur Vysya Bank Ltd have all piled up higher gross NPAs in past one year although the quantum of rise is smaller than what their public sector peers have been witnessing. Yes Bank Ltd is an exception. Its gross NPAs have almost doubled, although from a low base—from Rs. 56 crore to Rs. 109 crore. After setting aside money for bad debts, the net NPA figures for quite a few banks look quite ugly. For instance, for Central Bank, it has risen almost four-and-a-half times in past one year, from Rs. 1,082 crore to Rs. 4,853 crore; for Punjab National Bank, it has more than doubled, from Rs. 2,091 crore to Rs. 4,917 crore. For Union Bank, it has doubled—from Rs. 1,893 crore to Rs.3,747 crore. Here, too, private banks are better performers. ICICI Bank has, in fact, brought down its net NPAs from Rs. 2,303 crore to Rs. 1,905 crore. ING Vysya Bank has pared its net NPAs. Yes Bank’s net NPAs have grown manifold, but on a low base— from Rs. 2.67 crore to Rs. 23.72 crore.
A bank’s bad loans, as a percentage of the overall portfolio, can go down despite a rise in absolute numbers if its loan assets grow higher than bad loans. And the net NPAs, in percentage terms, go down after a bank sets aside money or provides for the bad loans. In June, three banks have more than 4% gross NPAs. They are Central Bank of India, State Bank of Mysore and Development Credit Bank. Another nine banks, led by Union Bank of India, have more than 3% but less than 4% NPAs. Only three banks have less than 1% gross NPAs—HDFC Bank, IndusInd Bank and Yes Bank.
Only Central Bank of India has more than 3% net NPAs and five others more than 2% but less than 3% net NPAs. And, 15 of the 35 banks that have announced earnings have less than 1% net NPAs. This list includes Yes Bank, Axis Bank, HDFC Bank, Kotak Mahindra Bank, Bank of Maharashtra, Syndicate Bank, Bank of Baroda and ICICI Bank.
Statistically, bad loans in Indian banking industry, both in percentage terms as well as absolute figures, have been the highest for several quarters and will rise further. RBI is in the process of tightening loan restructuring norms. Most banks’ books now carry more restructured assets than bad loans. This will change soon.
Live mint news
www.marketfutureindia.com

MCX exchange gets nod to launch currency options


The MCX Stock Exchange (MCX-SX) has been granted permission to launch currency options on its platform by SEBI and the RBI.
This approval will allow MCX-SX to expand its offerings in the currency derivatives segment by introducing currency options in the dollar-rupee currency pair, said a release from the exchange on Sunday.
The exchange held a mock-trading session on Saturday. It is yet to announce when it will rollout live trading of currency options.
“Options have the comparative advantage of maintaining a certain degree of flexibility in hedging. Introduction of this product completes the spectrum of hedging instruments available on the MCX-SX currency segment and adds further efficiency to risk mitigation mechanism in USD-INR,” said Joseph Massey, MD and CEO, MCX-SX.
This makes MCX-SX, the third exchange to offer trading in this segment after the NSE and the USE (2010). “With the introduction of one more player, there will definitely be better competition. It is good for the industry and will have a positive impact on costs also. At present, the rupee is very volatile so it looks like it’s a good time to launch another currency options platform,” said Naveen Mathur, Director, Angel Broking.
At the beginning of the calendar, the NSE had a turnover of Rs 98,530 crore and the USE Rs 273.63 crore in the currency options segment.
Currency options grants the holder the right, but not the obligation, to buy or sell currency at a specified exchange rate during a specified period of time.
At present, MCX-SX offers trading only in the currency futures segment. Last month, MCX-SX received permission from SEBI to launch its equity trading platform.
On its currency futures segment, contracts are traded in dollar-rupee, euro-rupee, yen-rupee, and pound- rupee.
In FY 2011-12, the exchange had a market share of 43.7 per cent in currency futures. The average daily turnover has increased to Rs 13,530.47 crore (July 2012) from Rs 324.78 crore in its first month of operation.
The exchange is used by SMEs, treasury of large corporates (importers and exporters), banks, institutions and individuals involved in forex transactions.
Business Line news