So, you have looked over the market and you are puzzled about what exactly is available for you to trade- there are such a lot of selections, after all. There are, of course, the standard stocks, which are the investments that you make into a company. Each stock certificate is like a tiny title of ownership to that company. The cash they make from the sale of their stocks is then reinvested back into the company by the managing board, ultimately strengthening the company. The company will sell a fixed amount of their stocks to the general public, and the rest will be held in trust by the governing boards in order that they can keep control over the choices that are made for the company. currency trading
You need to keep enough money to avoid dipping into your profit takings. Having an adequate quantity of risk capital will eliminate the need to do either. Set up the account with cash ahead, to cover those riskier trades and you won't have to worry about the way to cover your account at the end of the day, regardless of how the day's trading went for you.
Day trading is also rewarding on a more abdominal level. Imagine the excitement of making a trade that nets you a massive return in one day's's time. That gut level thrill has to be one of the finest parts of being a trader day trader. Sadly, that sense of thrill and danger can cause even more undisciplined behavior on the part of day trader, so take care. It cannot be repeated too frequently, do not forget your loss cap and do not exceed it.
The smart day -trader will trade inside their limits, permitting themselves the facility to make a classy exit if that becomes necessary. Being aggressive should never equal being foolish. currency trading
The old chestnut that ignorance is ecstasy, doesn't apply here. Stating that you did not know the regulations will not let you off the hook. You cannot invest $25,000 in a day trader account, begin making trades and then expect to use the "I did know that." as a defense for any violations. It is your responsibility to know and understand each stock trader regulation before making the first trade. If you don't, it is vital that you educate yourself thoroughly.
In fact, many financial execs will refuse to trade a penny stock because of the work comprised in tracking them, and because they feel they may be beneath them. Due to the floating definition of what a penny stock is, some smaller, but still really solvent company's stocks will go mostly untouched. Some pros will define a penny stock by market cap alone, which makes some of the most powerful performing, but still growing firms prime for investment. Think about it, a small company that is growing in big jumps is probably flying under the radar of most fiscal firms as they watch the action involving the bigger corporations. currency trading
That small company offers its stocks at a bargain basement price, and you, the savvy day trader buys as much as is possible in one trading day. The day after, that very same company becomes famous due to a news bulletin, and all of a sudden your supposed penny stock trade has made you a massive profit. On the down side, that eventuality could go in the direct other direction. You purchase up a big block of stock from this little company and then the following day you wake up to find that the complete company has closed because of some bad luck or simply thanks to the economy. You have now lost each cent you put into those shares of that company
Wednesday, January 20, 2010
NYSE STOCK MARKET
The New York Stock Exchange (NYSE) is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, New York, USA. It is the world's largest stock exchange by market capitalization of its listed companies at US$10.1 trillion as of October 2008[3].
The NYSE is operated by NYSE Euronext, which was formed by the NYSE's 2007 merger with the fully electronic stock exchange Euronext. The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978,[4] as was the 11 Wall Street building.[2][5][6]
The origin of the NYSE can be traced to May 17, 1792, when the Buttonwood Agreement was signed by 24 stock brokers outside of 68 Wall Street in New York under a buttonwood tree on Wall Street. On March 8, 1817, the organization drafted a constitution and renamed itself the "New York Stock & Exchange Board". Anthony Stockholm was elected the Exchange's first president (for other presidents, see List of presidents of the New York Stock Exchange).
The first central location of the Exchange was a room, rented in 1817 for $200 a month, located at 40 Wall Street. After that location was destroyed in the Great Fire of New York (1835), the Exchange moved to a temporary headquarters. In 1863, the New York Stock & Exchange Board changed to its current name, the New York Stock Exchange. In 1865, the Exchange moved to 10-12 Broad Street.
The NYSE is operated by NYSE Euronext, which was formed by the NYSE's 2007 merger with the fully electronic stock exchange Euronext. The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978,[4] as was the 11 Wall Street building.[2][5][6]
The origin of the NYSE can be traced to May 17, 1792, when the Buttonwood Agreement was signed by 24 stock brokers outside of 68 Wall Street in New York under a buttonwood tree on Wall Street. On March 8, 1817, the organization drafted a constitution and renamed itself the "New York Stock & Exchange Board". Anthony Stockholm was elected the Exchange's first president (for other presidents, see List of presidents of the New York Stock Exchange).
The first central location of the Exchange was a room, rented in 1817 for $200 a month, located at 40 Wall Street. After that location was destroyed in the Great Fire of New York (1835), the Exchange moved to a temporary headquarters. In 1863, the New York Stock & Exchange Board changed to its current name, the New York Stock Exchange. In 1865, the Exchange moved to 10-12 Broad Street.
EAFE STOCK EXCHANGE
The MSCI EAFE is a stock market index of foreign stocks, from the perspective of a North American investor. The index is market-capitalization weighted (meaning that the weight of securities is based on their respective market capitalizations). It first ranks each stock in the investable universe from largest to smallest by market capitalization. Basically, the largest 70% will comprise the MSCI EAFE Large Cap (new index), the largest 85% will comprise the MSCI EAFE Standard, and the largest 99% will comprise the MSCI Investable Market index (“IMI”). The 71st to 85th percentiles represent the MSCI EAFE Mid Cap, and the 85th to 99th percentiles represent the MSCI EAFE Small Cap. It is maintained by MSCI Barra[1]; the EAFE acronym stands for Europe, Australasia, and Far East.
The index includes a selection of stocks from 21 developed markets[2], but excludes those from the U.S. and Canada. The index has been calculated since 31 December 1969, making it the oldest truly international stock index. It is probably the most common benchmark for foreign stock funds.
The index includes stocks from the following countries as of September 30, 2009
As of 2009-09-30, the weight of the stocks from the various regions was as follows
The index includes a selection of stocks from 21 developed markets[2], but excludes those from the U.S. and Canada. The index has been calculated since 31 December 1969, making it the oldest truly international stock index. It is probably the most common benchmark for foreign stock funds.
The index includes stocks from the following countries as of September 30, 2009
As of 2009-09-30, the weight of the stocks from the various regions was as follows
NATIONAL STOCK EXCHANGE OF INDIA
The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India in terms of daily turnover and number of trades, for both equities and derivative trading.[1]. NSE has a market capitalization
of around Rs 47,01,923 crore (7 August 2009) and is expected to become the biggest stock exchange in India in terms of market capitalization by 2009 end.[2]Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation.
NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities[3]. There are at least 2 foreign investors NYSE Euronext and Goldman Sachs who have taken a stake in the NSE.[4] As of 2006[update], the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India [5]. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities.[6]It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%.[7]
The National Stock Exchange of India was promoted by leading Financial institutions at the best of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.
of around Rs 47,01,923 crore (7 August 2009) and is expected to become the biggest stock exchange in India in terms of market capitalization by 2009 end.[2]Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation.
NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities[3]. There are at least 2 foreign investors NYSE Euronext and Goldman Sachs who have taken a stake in the NSE.[4] As of 2006[update], the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India [5]. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities.[6]It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%.[7]
The National Stock Exchange of India was promoted by leading Financial institutions at the best of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.
STOCK OPTIONS
It is a well known fact that serious investors seeking long term growth of capital have as their main objectives the two most basic goals in investing:
• to find an investment vehicle that would effectively preserve capital and minimize risk in the face of a fluctuating and constantly flexing economy • the investment vehicle must provide better than decent yields in all economic conditions to promote constant growth of capital value.
With the stock market as the premiere choice due to its historical record of outperforming all other investments over time, people are increasingly turning to the stock market as their main investment vehicle for future capital growth. It is here where much higher rates of return can be made with a relatively small increase in risk to capital.
With thousands of books, manuals, internet sites, seminars and courses offering investment strategies and trading systems in the stock market and its derivatives, there are few, if any, that deliver the ideal investment vehicle sought by the long term investor in search of safety and high returns. Not only is there a near total absence of an ideal investment system but there are many that promise eye popping, mind boggling returns and, they are exactly that; mere promises.
Most of the trading systems offered are structured on strategies or activities that work when conditions are ideally suited to the program being peddled. Most of their successes are highly dependent on picking the right stocks at the right time. In other words you must be a good stock picker or use a stock picking service (for a high monthly fee) to select the right ones for you. Market timing is also an important factor in their systems. Again, you must be a good market timer or depend on a service that provides market timing signals (also for a high monthly fee). These supposedly high yield investment programs don't say anything about how bad things can be when conditions go against their predictions. These programs do exactly as promised: great when the going is good but disastrous when the going is bad. Without doubt many have been taken by these so-called services and while an investor/trader may be successful for a while, the end result over a long period of time is always the same - no better than if you had done the selections yourself. While there is no one investment system or vehicle that can be an answer-all to the various goals of various investors, there are some investment alternatives that can come close to satisfying the two basic needs of safety and decent returns. Diversified mutual funds have been touted as the answer to these basic needs. But over the years these funds have shown that during downturns in the economy they perform just as badly as the whole investment market in general. And, over the long term, many of these diversified funds have failed to even match market performance in general, much less outperform it.
Enter market derivatives with emphasis options.
Trading in stock options has become very popular with institutional investors as well as private individuals as a sound money management system supplementing their investment portfolios. The ability of stock options to give the investor a wide range of choices is what has made the options market grow considerably over the last two decades. To quote one options expert: "Stock options are the greatest wealth producing tool ever invented on this planet. . . . if you know how to use them". The key element of this statement is: . . . if you know how to use them.
For many people the mere mention of stock options, sends shivers up their spine. They look at options as synonymous with great risk. But isn't driving a car very dangerous for one who doesn't know how to drive? The ability of stock options to give the investor a wide range of choices in stock market investments is what has made the options market grow by leaps and bounds over the last twenty years. Statistics compiled by the Options Industry Council, a group that educates investors about options, show that volume in options trading has risen tremendously in recent years. Further, studies show that individual investors make up 60% of the market.
For the individual who has sufficient funds and is looking for more than a decent return on his capital and with controllable risk, stock options may be the answer.
There are dozens of option trading systems being employed by individual investors and institutions. Each system is designed to accomplish a specific investment goal. A financial institution may use long put options to hedge its winnings in stocks that have appreciated in value. Another investor may buy call options instead of stocks to enter a position in a security that has caught his fancy. Still another may sell calls against his stock holdings to generate income from his stock position, or what is popularly known as covered call writing.
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Of the dozens of option trading systems there is one that can be carried out as a long term investment program offering a fair degree of safety and consistent high returns over time, thus satisfying the investor's two basic needs of safety and return.
This is the selling of uncovered or naked options.
But wait! Is it not said that selling naked options carries the risk of unlimited losses? Isn't this a contradiction?
Indeed selling naked options when done carelessly and without a disciplined strategic program is extremely risky!
But by using a carefully planned and disciplined system of trading, the so-called "unlimited risk" factor in selling options can easily be conquered. There is a three-pronged trading strategy being used by one successful options trader that is proving to be a consistent winner in all market conditions. It is a trading technique that couples naked option selling with a modified ratio credit spread and the use of the roll over feature. While naked option selling has acquired a bad rap of being highly risky, this three-pronged trading strategy allows the trader to defeat the risk. Not only is the system able to substantially reduce the risk, it also offers one the ability to become a savvy investor/trader without having to depend on picking the right stocks or timing the market.
It involves utilizing the system in any market condition using only one or a few stocks, ETFs or indexes (the latter two are more effective). One need not worry about finding the right stocks or timing the trades. The fact remains that stocks behave, more often than not, in crazy and irrational ways so that one can almost say that consistently choosing winning stocks is as good as a random walk down Wall Street. Rather than be proactive and try to predict and time the market, as many try to do, this three-pronged investment system is reactive. The prescribed trades are done in reaction to how the market has moved, not in anticipation of its future behavior.
This three-pronged trading system does not promise quick profits or mind boggling yields but steady annual returns in excess of 30%. Many are averaging returns of 50% to 60%. It would be prudent to say that in times of deep downturns the system may not deliver the promised returns but it will hold its own and will definitely outperform the market.
One options trader that has mastered this three-pronged trading technique has decided to share his knowledge of the system by writing an e-book on its methodology. Borrowing from that quote about options being a great wealth producing tool he has aptly titled his work: STOCK OPTIONS: THE GREATEST WEALTH BUILDING TOOL EVER INVENTED. In it he details the step by step methodology of this trading technique and gives an exhaustive series of sample trades covering several months of transactions. It shows the effectiveness of the system in an up market, down market and horizontal market using only one ETF stock. To this day the writer continues to use only one or two ETFs in all his options trades and he includes a web page that shows his current and actual trading results month by month on an ongoing frequency. For more information visit his web site: http://www.theoptionseller.com/
• to find an investment vehicle that would effectively preserve capital and minimize risk in the face of a fluctuating and constantly flexing economy • the investment vehicle must provide better than decent yields in all economic conditions to promote constant growth of capital value.
With the stock market as the premiere choice due to its historical record of outperforming all other investments over time, people are increasingly turning to the stock market as their main investment vehicle for future capital growth. It is here where much higher rates of return can be made with a relatively small increase in risk to capital.
With thousands of books, manuals, internet sites, seminars and courses offering investment strategies and trading systems in the stock market and its derivatives, there are few, if any, that deliver the ideal investment vehicle sought by the long term investor in search of safety and high returns. Not only is there a near total absence of an ideal investment system but there are many that promise eye popping, mind boggling returns and, they are exactly that; mere promises.
Most of the trading systems offered are structured on strategies or activities that work when conditions are ideally suited to the program being peddled. Most of their successes are highly dependent on picking the right stocks at the right time. In other words you must be a good stock picker or use a stock picking service (for a high monthly fee) to select the right ones for you. Market timing is also an important factor in their systems. Again, you must be a good market timer or depend on a service that provides market timing signals (also for a high monthly fee). These supposedly high yield investment programs don't say anything about how bad things can be when conditions go against their predictions. These programs do exactly as promised: great when the going is good but disastrous when the going is bad. Without doubt many have been taken by these so-called services and while an investor/trader may be successful for a while, the end result over a long period of time is always the same - no better than if you had done the selections yourself. While there is no one investment system or vehicle that can be an answer-all to the various goals of various investors, there are some investment alternatives that can come close to satisfying the two basic needs of safety and decent returns. Diversified mutual funds have been touted as the answer to these basic needs. But over the years these funds have shown that during downturns in the economy they perform just as badly as the whole investment market in general. And, over the long term, many of these diversified funds have failed to even match market performance in general, much less outperform it.
Enter market derivatives with emphasis options.
Trading in stock options has become very popular with institutional investors as well as private individuals as a sound money management system supplementing their investment portfolios. The ability of stock options to give the investor a wide range of choices is what has made the options market grow considerably over the last two decades. To quote one options expert: "Stock options are the greatest wealth producing tool ever invented on this planet. . . . if you know how to use them". The key element of this statement is: . . . if you know how to use them.
For many people the mere mention of stock options, sends shivers up their spine. They look at options as synonymous with great risk. But isn't driving a car very dangerous for one who doesn't know how to drive? The ability of stock options to give the investor a wide range of choices in stock market investments is what has made the options market grow by leaps and bounds over the last twenty years. Statistics compiled by the Options Industry Council, a group that educates investors about options, show that volume in options trading has risen tremendously in recent years. Further, studies show that individual investors make up 60% of the market.
For the individual who has sufficient funds and is looking for more than a decent return on his capital and with controllable risk, stock options may be the answer.
There are dozens of option trading systems being employed by individual investors and institutions. Each system is designed to accomplish a specific investment goal. A financial institution may use long put options to hedge its winnings in stocks that have appreciated in value. Another investor may buy call options instead of stocks to enter a position in a security that has caught his fancy. Still another may sell calls against his stock holdings to generate income from his stock position, or what is popularly known as covered call writing.
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);
Of the dozens of option trading systems there is one that can be carried out as a long term investment program offering a fair degree of safety and consistent high returns over time, thus satisfying the investor's two basic needs of safety and return.
This is the selling of uncovered or naked options.
But wait! Is it not said that selling naked options carries the risk of unlimited losses? Isn't this a contradiction?
Indeed selling naked options when done carelessly and without a disciplined strategic program is extremely risky!
But by using a carefully planned and disciplined system of trading, the so-called "unlimited risk" factor in selling options can easily be conquered. There is a three-pronged trading strategy being used by one successful options trader that is proving to be a consistent winner in all market conditions. It is a trading technique that couples naked option selling with a modified ratio credit spread and the use of the roll over feature. While naked option selling has acquired a bad rap of being highly risky, this three-pronged trading strategy allows the trader to defeat the risk. Not only is the system able to substantially reduce the risk, it also offers one the ability to become a savvy investor/trader without having to depend on picking the right stocks or timing the market.
It involves utilizing the system in any market condition using only one or a few stocks, ETFs or indexes (the latter two are more effective). One need not worry about finding the right stocks or timing the trades. The fact remains that stocks behave, more often than not, in crazy and irrational ways so that one can almost say that consistently choosing winning stocks is as good as a random walk down Wall Street. Rather than be proactive and try to predict and time the market, as many try to do, this three-pronged investment system is reactive. The prescribed trades are done in reaction to how the market has moved, not in anticipation of its future behavior.
This three-pronged trading system does not promise quick profits or mind boggling yields but steady annual returns in excess of 30%. Many are averaging returns of 50% to 60%. It would be prudent to say that in times of deep downturns the system may not deliver the promised returns but it will hold its own and will definitely outperform the market.
One options trader that has mastered this three-pronged trading technique has decided to share his knowledge of the system by writing an e-book on its methodology. Borrowing from that quote about options being a great wealth producing tool he has aptly titled his work: STOCK OPTIONS: THE GREATEST WEALTH BUILDING TOOL EVER INVENTED. In it he details the step by step methodology of this trading technique and gives an exhaustive series of sample trades covering several months of transactions. It shows the effectiveness of the system in an up market, down market and horizontal market using only one ETF stock. To this day the writer continues to use only one or two ETFs in all his options trades and he includes a web page that shows his current and actual trading results month by month on an ongoing frequency. For more information visit his web site: http://www.theoptionseller.com/
BSE SENSEX
BSE Sensex or Bombay Stock Exchange Sensitive Index is a value-weighted index composed of 30 stocks that started January 1, 1986. It consists of the 30 largest and most actively traded stocks, representative of various sectors, on the Bombay Stock Exchange. These companies account for around one-fifth of the market capitalization of the BSE. The base value of the sensex is 100 on April 1, 1979, and the base year of BSE-SENSEX is 1978-79.
At irregular intervals, the Bombay Stock Exchange (BSE) authorities review and modify its composition to make sure it reflects current market conditions. The index is calculated based on a free-float capitalization method; a variation of the market cap method. Instead of using a company's outstanding shares it uses its float, or shares that are readily available for trading. The free-float method, therefore, does not include restricted stocks, such as those held by promoters, government and institutional investors.[1].
The index has increased by over ten times from June 1990 to the present. Using information from April 1979 onwards, the long-run rate of return on the BSE Sensex works out to be 18.6% per annum, which translates to roughly 9% per annum after compensating for inflation.[2]
On May 22, 2006, the Sensex plunged by 1100 points during intra-day trading, leading to the suspension of trading for the first time since May 17, 2004. The volatility of the Sensex had caused investors to lose Rs 6 lakh crore (US$131 billion) within seven trading sessions. The Finance Minister of India, P. Chidambaram, made an unscheduled press statement when trading was suspended to assure investors that nothing was wrong with the fundamentals of the economy, and advised retail investors to stay invested. When trading resumed after the reassurances of the Reserve Bank of India and the Securities and Exchange Board of India (SEBI), the Sensex managed to move up 700 points, still 450 points in the red.
At irregular intervals, the Bombay Stock Exchange (BSE) authorities review and modify its composition to make sure it reflects current market conditions. The index is calculated based on a free-float capitalization method; a variation of the market cap method. Instead of using a company's outstanding shares it uses its float, or shares that are readily available for trading. The free-float method, therefore, does not include restricted stocks, such as those held by promoters, government and institutional investors.[1].
The index has increased by over ten times from June 1990 to the present. Using information from April 1979 onwards, the long-run rate of return on the BSE Sensex works out to be 18.6% per annum, which translates to roughly 9% per annum after compensating for inflation.[2]
On May 22, 2006, the Sensex plunged by 1100 points during intra-day trading, leading to the suspension of trading for the first time since May 17, 2004. The volatility of the Sensex had caused investors to lose Rs 6 lakh crore (US$131 billion) within seven trading sessions. The Finance Minister of India, P. Chidambaram, made an unscheduled press statement when trading was suspended to assure investors that nothing was wrong with the fundamentals of the economy, and advised retail investors to stay invested. When trading resumed after the reassurances of the Reserve Bank of India and the Securities and Exchange Board of India (SEBI), the Sensex managed to move up 700 points, still 450 points in the red.
STOCK MARKET NEWS & TRENDS
* AUTOS : Tata Motors and M&M have shown interest in taking over the Termini Imerese plant in Italy owned by Fiat
* TATA MOTORS : Egyptian Govt asks co to set up a mfging facility for the local mkts and West Asia.. separately mgt says to grow its mkt share in utility vehicles from 12% to 15% by next yr
* DLF : debt to increase by Rs 22bn & rental income to rise Rs 5bn as a result of integration of its wholly owned subsidiary.. no timeline to list REIT unit
* HCC : bags order worth Rs 3.18bn from Kolkata
* ONGC : media rpts delay on part of govt to allow ONGC and OIL India to hike APM gas pxs in power and fertiliser causes ONGC to lose revs of Rs 47.45bn
* POWER GRID : plans to invest ~ Rs 23bn to add 2,000 circuit kms across 3 states by Mar 31, 2012 and to add substations
* SHREE RENUKA : rpts co has decided not to continue negotiations with Balrampur Chini for a possible deal due to differences in valuations
* JINDAL STEEL & POWER : co plans to boost power capacity 15x.. also the co has completed due diligence on Rocklands Richfield Ltd & has offered $159mn to acquire the Australian coal explorer.
Corporate News – Industry trends
* Indian automobile majors Tata Motors and Mahindra & Mahindra have shown interest in taking over the Termini Imerese plant owned by Italy’s largest car maker Fiat; Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011 (BS)
* After being unsuccessful with South African telecom MTN, Bharti Airtel is eyeing Bangladesh to expand its footprint; “We are looking to Bangladesh because we have an interest in the SAARC region,” Bharti Enterprises Deputy Group CEO and Managing Director Akhil Gupta said (BS)
* Power Grid Corporation’s Southern Region-II is planning to invest around Rs 23bn to add 2,000 circuit km across Tamil Nadu, Karnataka and Kerala by March 31, 2012, and to add substations (BS)
* HCL Axon, a division of information technology firm HCL Technologies, has signed a five-year global strategic information technology master services agreement with pharmaceutical major GlaxoSmithKline (BS)
* The country’s largest coal miner Coal India Ltd (CIL) will import 4 mn tonnes of coal for state-run power company NTPC. “Earlier, there were no takers for the imported coal (BS)
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* Bhushan Steel Ltd signed a technical collaboration and marketing agreement with Sumitomo Metals, Japan’s third-largest steel producer. The two companies are also exploring the setting up of a joint venture for setting up a six-mn tonne steel plant at Asansol in West Bengal (BS)
* The board of Godrej Consumer Products has okayed a proposal to raise up to Rs 30bn. “The money will be raised in the immediate future to fund acquisitions,” group chairman Adi Godrej said (BS)
* In a bid to give a fillip to infrastructure lending, the India Infrastructure Finance Company Ltd proposes to expand the scope of its refinance scheme to make it attractive not just for banks but also for non-banking finance companies, which currently do not have any refinancing support (BL)
* Real estate company DLF's over all debt will go up by Rs 22bn as a result of integration of its wholly-owned subsidiary DLF Cyber City Developers Ltd with Caraf Builders & Constructions (a KP Singh company that owns DLF Assets Ltd) (BL)
* Bajaj Hindustan has reported a net profit of Rs 690 mn in the quarter ended September 30 against a net loss of Rs 870 mn logged in the same period last year (BS)
* Glenmark Pharma said it has entered into an agreement with Switzerland based drug firm Stratpharma AG, to market and distribute skin care product Stratadem, in India (FE)
* Orchid plans to use the funds that are expected by March 2010 to settle its short-term debts of $110 mn and $150 mn FCCBs that are maturing in 2012. (ET)
Commodity/Money Market News
* The Agriculture Ministry has revised upwards its first advance estimate of rice production for kharif 2009-10 to 71.65 million tones (mt), from the earlier figure of 69.45 mt released on November 3 (BL)
International trends
* The Abu Dhabi Investment Authority is trying to abort an agreement to buy US$7.5 bn of Citigroup Inc stock at eight times Wednesday’s price, saying the bank misled it about the investment (BS)
* The European Central Bank will lend banks more money than economists forecast in its final tender of 12-month funds as some financial institutions try to lock in cash at a record low interest rate. Banks bid for 96.9 bn euros ($141 billion), the Frankfurt based ECB said on Wednesday (BS)
* TATA MOTORS : Egyptian Govt asks co to set up a mfging facility for the local mkts and West Asia.. separately mgt says to grow its mkt share in utility vehicles from 12% to 15% by next yr
* DLF : debt to increase by Rs 22bn & rental income to rise Rs 5bn as a result of integration of its wholly owned subsidiary.. no timeline to list REIT unit
* HCC : bags order worth Rs 3.18bn from Kolkata
* ONGC : media rpts delay on part of govt to allow ONGC and OIL India to hike APM gas pxs in power and fertiliser causes ONGC to lose revs of Rs 47.45bn
* POWER GRID : plans to invest ~ Rs 23bn to add 2,000 circuit kms across 3 states by Mar 31, 2012 and to add substations
* SHREE RENUKA : rpts co has decided not to continue negotiations with Balrampur Chini for a possible deal due to differences in valuations
* JINDAL STEEL & POWER : co plans to boost power capacity 15x.. also the co has completed due diligence on Rocklands Richfield Ltd & has offered $159mn to acquire the Australian coal explorer.
Corporate News – Industry trends
* Indian automobile majors Tata Motors and Mahindra & Mahindra have shown interest in taking over the Termini Imerese plant owned by Italy’s largest car maker Fiat; Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011 (BS)
* After being unsuccessful with South African telecom MTN, Bharti Airtel is eyeing Bangladesh to expand its footprint; “We are looking to Bangladesh because we have an interest in the SAARC region,” Bharti Enterprises Deputy Group CEO and Managing Director Akhil Gupta said (BS)
* Power Grid Corporation’s Southern Region-II is planning to invest around Rs 23bn to add 2,000 circuit km across Tamil Nadu, Karnataka and Kerala by March 31, 2012, and to add substations (BS)
* HCL Axon, a division of information technology firm HCL Technologies, has signed a five-year global strategic information technology master services agreement with pharmaceutical major GlaxoSmithKline (BS)
* The country’s largest coal miner Coal India Ltd (CIL) will import 4 mn tonnes of coal for state-run power company NTPC. “Earlier, there were no takers for the imported coal (BS)
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* Bhushan Steel Ltd signed a technical collaboration and marketing agreement with Sumitomo Metals, Japan’s third-largest steel producer. The two companies are also exploring the setting up of a joint venture for setting up a six-mn tonne steel plant at Asansol in West Bengal (BS)
* The board of Godrej Consumer Products has okayed a proposal to raise up to Rs 30bn. “The money will be raised in the immediate future to fund acquisitions,” group chairman Adi Godrej said (BS)
* In a bid to give a fillip to infrastructure lending, the India Infrastructure Finance Company Ltd proposes to expand the scope of its refinance scheme to make it attractive not just for banks but also for non-banking finance companies, which currently do not have any refinancing support (BL)
* Real estate company DLF's over all debt will go up by Rs 22bn as a result of integration of its wholly-owned subsidiary DLF Cyber City Developers Ltd with Caraf Builders & Constructions (a KP Singh company that owns DLF Assets Ltd) (BL)
* Bajaj Hindustan has reported a net profit of Rs 690 mn in the quarter ended September 30 against a net loss of Rs 870 mn logged in the same period last year (BS)
* Glenmark Pharma said it has entered into an agreement with Switzerland based drug firm Stratpharma AG, to market and distribute skin care product Stratadem, in India (FE)
* Orchid plans to use the funds that are expected by March 2010 to settle its short-term debts of $110 mn and $150 mn FCCBs that are maturing in 2012. (ET)
Commodity/Money Market News
* The Agriculture Ministry has revised upwards its first advance estimate of rice production for kharif 2009-10 to 71.65 million tones (mt), from the earlier figure of 69.45 mt released on November 3 (BL)
International trends
* The Abu Dhabi Investment Authority is trying to abort an agreement to buy US$7.5 bn of Citigroup Inc stock at eight times Wednesday’s price, saying the bank misled it about the investment (BS)
* The European Central Bank will lend banks more money than economists forecast in its final tender of 12-month funds as some financial institutions try to lock in cash at a record low interest rate. Banks bid for 96.9 bn euros ($141 billion), the Frankfurt based ECB said on Wednesday (BS)
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