Pipavav Defence and Offshore Eng Ltd today closed flat at Rs.38.40. According to the media reports, the government of India is mulling various options, which include lower bank interest rates, infrastructure status to shipyards, a separate fund and also special subsidy to shipbuilders who source raw material and parts locally. It is a company whose promoter is Nikhil Prataprai Gandhi, a person having very good rapport with Senior Ambani. Moreover, Nikhil Gandhi, chairman, Pipavav Shipyard told CNBC-TV18 at the beginning of this year, that the private ship-builder is in talks with a French company for a strategic stake sale. He says this partnership is primarily aimed to bring in the technological know-how and proprietary knowledge of military hardware into the country. The promoter stake after the deal might come down to 41% from 45% initially. SAAB AB of Sweden has already a stake in Pipavav. SAAB AB and the new partner, if the stake sale goes through, will together own 15 percent in the company, says Gandhi. The company has an order book of around Rs.12, 000 crore and is trading near the 52-week low price of Rs.30.55, hence the downside is limited. Besides, Rakesh Radheshyam Jhunjhunwala and Rekha Rakesh Jhunjhunwala, respectively holds 2.11% and 1.30% stake in the company. Also, the uncertainty over the fate of subsidy payments for shipbuilders such as Pipavav Defence and Offshore Engineering Co. Ltd, ABG Shipyard Ltd and Bharati Shipyard Ltd could lift soon, with the government looking to extend the payment timeline for a scheme which ended seven years ago.
This Blog helps in disseminating FREE information related to Stock/Share Markets (domestic and overseas), Finance/Investments & Current Affairs. The content of this blog is for information purpose only - not recommendations, to Buy or Sell Securities. The data used here, is derived from the sources, deemed to be reliable, but their accuracy and completeness is not guaranteed. The author is not responsible for any loss in investments made, based on the inputs provided here - 28th May, 2006.
Monday, September 29, 2014
Pipavav Defence and Offshore Eng Ltd today closed flat at Rs.38.40. According to the media reports, the government of India is mulling various options, which include lower bank interest rates, infrastructure status to shipyards, a separate fund and also special subsidy to shipbuilders who source raw material and parts locally. It is a company whose promoter is Nikhil Prataprai Gandhi, a person having very good rapport with Senior Ambani. Moreover, Nikhil Gandhi, chairman, Pipavav Shipyard told CNBC-TV18 at the beginning of this year, that the private ship-builder is in talks with a French company for a strategic stake sale. He says this partnership is primarily aimed to bring in the technological know-how and proprietary knowledge of military hardware into the country. The promoter stake after the deal might come down to 41% from 45% initially. SAAB AB of Sweden has already a stake in Pipavav. SAAB AB and the new partner, if the stake sale goes through, will together own 15 percent in the company, says Gandhi. The company has an order book of around Rs.12, 000 crore and is trading near the 52-week low price of Rs.30.55, hence the downside is limited. Besides, Rakesh Radheshyam Jhunjhunwala and Rekha Rakesh Jhunjhunwala, respectively holds 2.11% and 1.30% stake in the company. Also, the uncertainty over the fate of subsidy payments for shipbuilders such as Pipavav Defence and Offshore Engineering Co. Ltd, ABG Shipyard Ltd and Bharati Shipyard Ltd could lift soon, with the government looking to extend the payment timeline for a scheme which ended seven years ago.
Wednesday, February 28, 2018
Photo: Seeking Alpha |
Monday, April 29, 2013
Weak U.S. growth data has raised expectations the Federal Reserve will keep its bond buying at $85 billion a month, while the European Central Bank is widely expected to announce an interest rate cut when it meets on Thursday.
Accommodative policy is supportive for gold as printing of money tends to be inflationary.
"Overall gold will remain on the upside on loose monetary policy stance by the U.S.," said Sumit Mukherjee, an analyst at Karvy Comtrade.
The actively traded gold for June delivery was 0.17 percent lower at 27,144 rupees per 10 gram on the Multi Commodity Exchange (MCX), after hitting a high of 27,447 rupees on Friday, a level seen on April 15.
Gold may trade in a range of 26,300-27,800 rupees, said Mukherjee.
However, lower physical demand from India after the buying frenzy following a 20 percent drop in prices from the peak, could limit the upside in prices. India will celebrate Akshaya Tritiya next month, while weddings will continue till June-July.
Silver for May delivery was 0.17 percent higher at 45,118 rupees per kg on the MCX.
Silver may trade in a range of 43,400-48,000, said Mukherjee.
(Reporting by Siddesh Mayenkar; Editing by Subhranshu Sahu)
Tuesday, March 27, 2018
Photos: Colossos |
Friday, April 20, 2012
Easing Eurozone woes, pulls base metals higher
Ruchika Shah / Mumbai Apr 20, 2012
Local copper contract on the MCX also broke out of the three-day humdrum and was trading Rs 1.80 higher, at Rs 420.05 today. The rupee was weak against the dollar after hitting a 14-week low in the last hour of trading yesterday. This helped in pulling local copper prices higher.
Eurozone concerns eased as the region's IFO business climate data released today was better than estimated, said Priyanka Jhaveri, an analyst with Kotak Commodity Services. This strengthed the euro against the dollar, which pushed dollar-denominated commodities such as base metals higher in the global markets.
Benchmark copper contract on the LME was trading at $8,079 per tonne, up $29 from Thursday's close. The contract had been settling at $8,050 for the past three days, she said.
China, the world's largest importer and consumer of base metals, is seen re-exporting its copper stocks from the bonded warehouses at the Shanghai Futures Exchange, to ease LME backwardation.
"Backwardation, is a sign of bullishness," she says. It means that the spot market is tight with high demand and restricted supply. This hints at a bullish trend in base metals for the rest of the day.
Prices at the LME compared to spot market prices, have been lower, which is an unusual trend, Jhaveri says. But this has been the occurrence at LME where copper is going at a discount, while the red metal in the spot market is being sold at a premium.
LME 3-month copper premium, a premium for cash copper against three-month delivery on the world's biggest metal marketplace popped up to $114 per tonne on Tuesday, a level not seen since 2008.
It was going at a premium of close to $80-85 per tonne, which was now down at $44 today due to backwardation, which resulted in rising stocks at LME-monitored warehouses. This is still higher than $10-40 premium at SHFE.
However, copper, pulling the base metal complex, is expected to be bullish in the evening trading session, in the absence of any significant data release later today, Jhaveri said.
According to Kotak Commodity Services, MCX April copper contract may get support at Rs 416 and face resistance at Rs 424, while the 3-month contract is expected to find support at $8,000 and face resistance at $8,150 later today.
Thursday, September 01, 2022
Winning Strokes
The Nifty will next try to cross 18000 which it failed last time. In absence of not much negativity, this is achievable, by next week.
Yesterday Dow Jones closed at 31,510.43 down 280.44 points. However, the markets are likely to trade volatile with a bullish bias. Buy good scrips at reasonable valuations during market dips.
#I have taken some shares of Dharani Sugars and Chemicals Ltd (Rs.11.20) and Bajaj Hindustan Sugars Ltd (Rs.10), for those who accounts I manage. The reason behind this move are:
🔵The festive season has approached with the Ganapati Festival which generally escalates the demand for sugar.
🔵The finance minister, Nirmala Sitharaman had announced, to levy additional excise duty of Rs.2 per litre on unblended fuel. The tax shall be applicable from October 1, 2022.
The government's initiative was aimed at reducing the overall oil import by blending ethanol in the fuel. This move is likely to encourage ethanol blending of fuel and may have direct positive impact on the sugar companies.
Ethanol is a byproduct of sugar manufacturing, and the government has planned to blend as much as 20%, ethanol in fuel by 2025.
Buy sugar counters and hold them for one month.
#Buy Zomato Ltd at Rs.62.20. The ensuring Festival season is good for restaurant and sugar stocks.
#Those who are holding Reliance Power Ltd (Rs.18.40), kindly book some profits and hold the rest with a SL of Rs.17.40.
#Those who are holding the shares of Vodafone Idea Ltd (Rs.9.05), may continue to add on declines. ,
#Buy the shares of BSE Ltd at Rs.654, T: Rs.696/771. SL: Rs.646.
Any buoyancy in stock market is positive for stock exchanges. Whether it is bull 🐂 or 🐻 market, stock exchanges continue to earn.
The price of the share of MCX is ~Rs.1288, while the price of the share of BSE Ltd is only Rs.652. Now tell me which one carries more halo, MCX Ltd or BSE Ltd? Hence, I strongly feel that at the current price the share of BSE Ltd is undervalued.
#Nitin Spinners Ltd (Rs.226.65) continues to do well. Now raise the SL to Rs.221.
#The stock of RTN Power Ltd (Rs.4.10) hit the buyers freeze today. Once Rs.4.20/4.30 range is crossed we could see new 52 - week high.
Friday, December 13, 2019
Photo: Business Standard |
- Forex Algorithm Trading
- Stock Algorithm Trading
- Fund Algorithm Trading
- Bond Algorithm Trading
- Cryptographic Algorithm Trading
- Thomson Reuters
- 63 Moons Technologies
- Tata Consultancy Service
- Symphony Fintech
- Argo SE
- Kuberre Systems
- Virtu Financial
- Rising demand for fast, reliable, and effective order execution, with a view to reduce transactional costs. Institutional investors and big brokerage houses have been using algorithmic trading to cut down on costs associated with bulk trading.
- Further, increasing government regulations and growing demand for market surveillance is helping the market growth. Traders keep track of their trading activities and investment portfolios by using market surveillance technology.
- Moreover, the emergence of AI in the financial service sector is expected to be a major factor aiding in the growth of the algorithmic trading market.
- Also, algorithmic trading creates a highly liquid market due to rapid buy and sell orders without any human intervention. But, on the flip side this method can also lead to an instant loss of liquidity, which can restrain market growth. For instance, algorithmic trading was a significant factor in causing a loss of liquidity in currency markets after the Swiss franc discontinued its Euro peg in 2015.
- Cloud computing is a model which makes use of networks of remote servers usually accessed over the internet, to store, manage, and process data.
- Cloud technology often helps in cost savings or improves business agility and responsiveness.
- Cloud-based trading removes all the complexities to provide an extraordinarily powerful environment which allows the traders to focus more on developing trading strategies that work.
- Due to the convenience of the cloud, traders can use the cloud service to check new trading strategies, backtest and run-time series analysis along with executing trades.
- It also helps the traders to access real-time data and access the data anywhere at any time.
- According to LogicMonitor's survey, 41% of enterprise workloads will be run on public cloud platforms like Amazon AWS, Google Cloud Platform, IBM Cloud, Microsoft Azure, and others, by 2020.
- On-premise workloads are also predicted to shrink from 37% as of today to 27% of all workloads by 2020.
- Financial Services has the highest percentage of server images deployed in private or public clouds, approaching nearly 100% Vs a median adoption rate of 19%.
The Supreme Court has also set aside a government order to merge NSEL with 63 Moons, while the NCLT last year had dismissed a plea of the Corporate Affairs Ministry to supersede the 63 Moons' board.
Bibliography: Inputs from web searches...
Thursday, September 26, 2013
markets are likely to gain on Thursday as US Congressmen wrangle over raising $16.7 trillion limit for government borrowing.
Friday, September 09, 2011
The cost of trading in shares is likely to go down. The Union finance ministry has taken up a review of the current Securities Transaction Tax (STT) regime after a meeting with top exchange officials yesterday.
While a waiver of STT in the soon-to-be-launched small and medium enterprises (SMEs) segment of the exchanges is a done deal, a similar change of rule for the equity segment was being looked into, sources in the ministry informed.
Top officials from the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), MCX-SX and United Stock Exchange were present at the meeting.
Prior to 2008, STT was allowed as a rebate against tax liability under Section 88E of the Income Tax Act, if the income from securities on which the tax was levied was included under the head 'profits and gains of business and profession'. This allowed brokers to pay less tax and generate more volumes.
The changes to the income tax rule on STT were announced in 2008 by then finance minister P Chidambaram. This put arbitrageurs and jobbers, who generated nearly 30 per cent of volumes, out of business. Trading sentiment is at a nadir due to low liquidity.
The NSE pays a little over Rs 5,000 crore as annual STT and the BSE pays Rs 2,000 crore.
Arbitrage trades have shifted to the commodity segment, as no transaction tax is levied. A Commodities Transaction Tax was discussed but there was intense lobbying and the finance ministry has put off the proposal. The absence of a transaction charge in commodities has aided volumes in this segment. Average daily trades worth Rs 50,000 crore are generated daily.
While the cost of trading equity, including brokerage, in the US and Europe is around Rs 500 on trades worth Rs 1 crore, it is as high as Rs 1,300 in India. This includes Rs 850 as STT. While Rs 200 goes to the exchange, Rs 200 is paid as stamp duty and Rs 21 as service tax. Also, Rs 10 is collected by the Securities and Exchange Board of India. In addition, there is a brokerage. If trades are delivery-based, they attract depository and demat charges as well. While it may seem miniscule in percentage terms, it is a major burden, as traders can make profit in India only after 28 ticks, while in the US and the UK, just one favourable tick on index futures can generate a profit. In the US, the spread on the S&P contract, or one tick, is 25 cents. So, if a trader gets just one tick right, he can take home 20 cents, as the trading cost there is just five cents. This is the reason why the US markets are more liquid.
The exchanges also expressed their views on extension in trade timings and allowing foreign institutional investors (FIIs) and non-resident Indians to trade in the currency segment. On an average, trades worth Rs 30,000 crore are reported in currency derivatives, mainly generated by stock brokers in Mumbai, Delhi and Calcutta. Among the three exchanges where currency trading takes place, one was not in favour of allowing FIIs in the currency derivative segment.
Monday, August 26, 2013
The Nifty_Futures moved to 5526.75, after a buy was given on it with a target of 5530. The Nifty_Futures is expected to try crossing 5620 once again this week.
MCX Ltd hit the buyer freeze in the opening phase. Those who have not exited the scrip, and have taken fresh position after it was again recommended in Facebook at around Rs.272, can continue to hold the scrip, with a SL at Rs.287. The stock closed at Rs.306.90, in the BSE.
B F Utility Ltd touched Rs.137 today, while BHEL touched Rs.124.65 (Recommended at Rs.120) and L &T touched Rs.759.75 (Recommended at Rs.743.95), after they were recommended in the Premium Blog today. B F Utility Ltd closed at Rs.134, after it broke out last week, from the existing trend. The new government in Karnataka is positive for the company. B F Utility Ltd gets a good portion of its revenue from the wind power. CLICK HERE.
The measures are continuation of the government's ongoing drive to make FDI policy more attractive. Under the current rules, 100% FDI is allowed in the construction, housing and township but subject to a threeyear lock-in, a condition that was imposed to ensure speculative money does not flow into real estate but has also had the unintended consequence of stifling genuine investments.
The sector attracted $1.3 billion FDI in 2012-13, down 58% from $3.1 billion in 2011-12. The department of Industrial policy and promotion (DIPP) is now mulling allowing foreign investor to exit after completion of the project or three years, whichever is earlier, as proposed by the ministry of housing and urban poverty alleviation (MHUPA).
Most housing projects are running one to two years late because of slowdown and shortage of funds because of elevated debt levels.
"Though DIPP is yet to finalise on the relaxation in FDI conditions, but the exit window to developers after project completion seems suitable. However, greater clarity would be needed on the definition of completion," said a government official in privy of the matter.
"Providing an exit door to the foreign investor on project completion before 3 years will be a good sign. This would make entry and exit simpler like it is in other countries. But I am doubtful if it will lead to an immediate dollar inflow", said Anshuman
Magazine, CMD, CBRE, an international real estate consultancy firm. However, industry feels there should not be any exit clause. "Most townships or housing projects take more than 3 years to construct anyways. What difference will the exit on completion make? A foreign investor should be allowed to exit whenever it wants, as per the agreement between him and the Indian player", said RR Singh, director general, National real estate development council.
The other changes under consideration include reducing the minimum capitalization of the eligible construction project in which FDI can come in to $ 5 million against $ 10 million presently for wholly owned subsidiaries and from $5 million to $2.5 million for joint ventures with Indian partners.
MHUPA has also asked for a reduction in the minimum built up area from 50,000 sq mt to 20,000 sq mt. However in case of serviced housing plots, minimum land area may remain the same at 10 hectares.
DIPP is looking into all these but is opposed some of the more liberal proposals like the urban development ministry's suggestion foreign investors be allowed to purchase land and other immovable assets for construction purpose. "This is nearly the same as saying allowing FDI in real estate business, which is not permitted", said the official.
Urban development ministry has also recommended that foreign investment up to 49% be free from any entry condition to attract foreign capital providers that do not have long-term interest in construction assets.
Thursday, October 03, 2013
Courtesy: Reuters
Tuesday, September 24, 2013
Indian imports, affected by a July 22 RBI notification stipulating that at least 20 per cent of the yellow metal brought into the country should be re-exported, are likely to resume anytime now. |
Wednesday, September 25, 2013
Photo: www.afaqs.com |
Agencies reported a key decision maker as saying that the US Federal Reserve will begin cutting its $85-billion-a-month stimulus package before the year-end.
Elsewhere, US consumer confidence dropped as also rise in US home prices slowing in July.
Durable goods, home sales data
Data on US durable goods orders and new home sales later in the day could shed some light on which way the economy is heading and probably, provide some direction to the yellow metal.
Kharif crop forecast
The Indian Farm Ministry has said that the kharif or summer crop this year will be the highest over the last five years.
It remains to be seen see how the rural population reacts to a higher income, coming in at least from higher support price for foodgrains and major oilseeds. Most probably, this factor could cushion any steep fall in gold, for now.
Spot gold, gold futures
In early Asian trading, spot gold ruled at $1,324.74 an ounce and gold futures maturing in December at $1,324.90.
In the domestic market on Wednesday, gold for jewellery (99.5 per cent purity) edged marginally up at Rs 29,820 for 10 gm and pure gold (99.9 per cent purity) to Rs 29,970.
On MCX, October gold contracts could rule between Rs 29,500 and Rs 30,000.
Rupee Vs dollar
In the Indian context, the rupee’s movement against the dollar could also have a role to play since a stronger Indian currency makes the import of gold, crude oil and vegetable oils costlier.
Having dropped over the last four sessions, crude oil could edge higher on Wednesday, especially on speculation that US crude stockpiles could have dropped. Data on the stocks are expected later in the day.
Crude oil prices
Brent crude contract maturing in November was up at $108.78 a barrel and West Texas Intermediate for the same month at $103.27.
The oils and oilseeds complex is likely to head north on threat of frost in the US Midwest region besides bets that rains in that region are not enough to boost the crop. A rise on soyameal prices, too, could help the complex scale up.
Soyabean, crude palm oil
Chicago Board of Trade soyabean November contracts rose to $13.18 a bushel. Crude palm oil December contracts on Bursa Malaysia Derivatives Exchange opened higher at 2,310 ringgit or $716.50 a tonne.
Wheat, corn prices
With wheat prices rising above the 50-day moving average, technically they are likely to rise. Fundamentally, China has increased its import of US wheat and inspections for its exports are also higher.
On the other hand, Argentina, going through a dry period, could see frost in the main-growing area, threatening the standing crop further.
Corn (industrial maize), on the other hand, could drop as a higher harvest looms.
CBOT wheat for delivery in December rose to $6.59 a bushel and corn for delivery the same month to $4.49 a bushel.
Courtesy: The Hindu Business Line
Wednesday, February 26, 2014
Monday, September 02, 2013
Gitanjali Gems Ltd has hit the buyer freeze in the opening trade at Rs.76.15. There were some media rumours that the company, which has been hit by RBI's new rules on gold import, has approached banks for more than 10 bln rupees in loans.
Jai Prakash Associates Ltd recommended last week around Rs.32-33, today rose to Rs.36. The stock was strongly recommended for the 1st target of Rs.37.
Buy Dena Bank Ltd at Rs.45, T--Rs.52, SL--Rs.41.80. The company came out with decent set of numbers for the Q1FY14, sequentially. The point which to be noted is that in Q1FY14, the EPS is Rs.5.40, which gives perfect indication how undervalued the share price is, at the CMP. One should buy the stock and keep holding. Today another scrip from the Public Sector Bank space, Union Bank India Ltd rose more than 5% intra-day and is now trading at Rs.107.70.
NMDC Ltd recommended around Rs.107-109 and again at Rs.93-94, today touched Rs.122.50. It has recently been recommended by a number of advisory services. CLICK HERE.
Tuesday, January 28, 2014
Tuesday, June 02, 2020
Photo: SCB Global Network |
What is irrational and hilarious is that when this quarter GDP growth of India would be near ZERO, the Nifty is near 10000. Therefore, a stock market contrary to the popular perception is NEVER a barometer of any economy in the short term -- though in the long term markets will reflect the macroeconomic characteristics of any economy. The point to drive home is that: Stock Markets will rise, if people BUYs stocks and will touch nadir due to sentiment turning extremely pessimistic. In short term, rise or fall of tbourses has nothing much to do with the fundamentals of any economy, it is purely sentiment driven.
With Indians counting themselves among the 7 - worst Covid - 19 affected nations, this irrational upmove of the indices defy all logic and imagination. This shows how, people all over the world are a prisoner of the term "Herd Mentality".
Narendra Modi government have been presenting us with, a rickety economy since the ill conceived demonetisation, which was touted to kill the burning economic evils in one go, was implemented, with all force and tall talks; bereft of any accountability or scruple. Now this Covid - 19 episode is likely to make things even worse, if Rnot worst. The unemployment figures according to some estimates have already touched 14 crore plus. What will happen in the next few months is an obvious conclusion. Those who are saying the worst is behind us, are simply building castles in air. Just wait and watch!!
Gold prices are likely to come down as more and more countries ease lockdown curbs, lowering the risk sentiment. On MCX, gold futures were down marginally at ₹47,137 per 10 gram.
Also, my recently recommend SAIL made a high of Rs.31.10, while HINDALCO Industries Ltd made a high of Rs.143.50, intraday.
I would suggest profit booking (if any) and wait on the sidelines, for the arrival of the monsoon, in the entire country.