Thursday, 28 December 2017

Nifty hovers around 10,500 ahead of F&O expiry: Hindalco top gainer

Buzzing: shares of Kolte-Patil Developers included 5 percent in morning as the organization will raise Rs 193 crore from worldwide speculation firm KKR.

"The organization has reported that worldwide speculation firm KKR has conferred Rs 193 crore in Kolte-Patil I-Ven Townships (Pune) (KPIT), a joint wander of Kolte-Patil and ICICI Venture Funds Management Company," organization said in public statement.

KPIT is creating Life Republic, a 383-section of land township situated in Pune's IT center point, Hinjewadi.

FII View: Indranil Sen Gupta of Bank of America Merrill Lynch said the administration's choice to obtain another Rs 50,000 crore was an avoidable negative amazement in an effectively apprehensive G-Sec market.

The auction in G-Secs is postponing loaning rate cuts, despite bank recapitalisation and pushing back recuperation, he included.

While the Finance Ministry has called attention to that this will get subsidized by development of T-Bills, TB development ordinarily discharges liquidity in the 'occupied' mechanical season in the March quarter, he said.

As per Gupta, it would have been exceptional for the Center to have drawn down its surplus adjusts with the RBI.


Market Update: Benchmark files kept on being rangebound in morning in front of last expiry of prospects and alternatives contracts of the year.

The 30-share BSE Sensex was up 24.71 focuses at 33,936.52 and the 50-share NSE Nifty increased 12.60 focuses at 10,503.40.

Around two offers progressed for each offer falling on the BSE.

Market Outlook: Devam Modi, Director – Equirus Securities said in a meeting to Moneycontrol that the Nifty is as of now exchanging at TTM P/E and P/B numerous of 26.8 and 3.54 separately. The normal TTM P/E and P/B numerous of Nifty since January 2000 is 19.1 and 3.6, separately. The business sectors have ascended in the previous couple of months on the back of solid liquidity and desires of income recuperation in second 50% of FY18.

"We are careful on the more extensive markets since there are different dangers identified with USD deterioration, unrefined keep running up, higher expansion desires, firming up of security yields and moderately high TTM valuations. Be that as it may, we have a base up approach in stock choice and any adjustment in these stocks as a result of hosing all in all business sectors should remain a "purchase on plunge"," he said.


Fiscal shortfall: Samiran Chakraborty of Citi said the last time government turned to additional obtaining of generally Rs 90,000 crore was in FY12 when the monetary deficiency was reexamined from the planned level of 4.6 percent of GDP to 5.9 percent of GDP.

After around 5 years of financial marksmanship, the phantom of additional acquiring and monetary slippage has returned, he included.

The examination house evaluated a 30 bps slippage in FY18 financial shortage focus (from 3.2 percent of GDP to 3.5 percent of GDP) in the wake of considering the deficit in RBI profit, income inescapable from extract obligation cut and supplementary awards, he said. "The additional acquiring declaration, in this way, vindicates our perspective of monetary slippage."

Subsidy Claim: Cement creator Star Cement said it has gotten Rs 158.82 crore towards capital speculation appropriation assert from the legislature.

The organization will utilize these assets to reimburse advances, it said.

Star Cement alongside its auxiliary, Star Cement Meghalaya has gotten Rs 158.82 crore "towards capital venture appropriation assert from the focal government and this sum will be used towards reimbursement of credits," the organization said in an administrative documenting.


SEBI on Axis Bank: The Securities and Exchange Board of India (SEBI) has guided Axis Bank to direct an inward request in the WhatsApp spill case. The request should be led inside a time of 3 months from the date of request and the bank should record a give an account of it inside 7 days from the consummation of the request.

Moneycontrol had before announced that the market controller had started an examination into spillage of value touchy data through WhatsApp gatherings.

SEBI, in a discharge on Wednesday, said that before its income on July 25, 2017, "money related outcomes flowed on the gatherings were either coordinating in totality or were near the genuine declarations". The main exemption, it stated, was the slippage figure as can be found in the accompanying table:


Market Check: Equity benchmarks bounced back with mellow picks up in the midst of instability on Thursday morning, in front of expiry of December fates and choices contracts.

The 30-share BSE Sensex was up 51.96 focuses at 33,963.77 and the 50-share NSE Nifty picked up 21 focuses at 10,511.80.

Hindalco Industries, Vedanta, Aurobindo Pharma, BPCL, Lupin, HUL, Tata Steel, Coal India and Dr Reddy's Labs were early gainers.

The Nifty Midcap was up 0.24 percent.

Star Cement, Monnet Ispat, Reliance Communications, Kolte-Patil Developers and Hindustan Copper encouraged 4-12 percent.

The Indian rupee has slipped to its most minimal level since December 18, exchanging at around 64.26 against the US dollar while 10-year security yield rose to 7.33 percent, the largest amount since July 13, 2016.
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Wednesday, 27 December 2017

Buy Reliance Industries, Cipla, Yes Bank; sell Bank of Baroda: Sudarshan Sukhani



Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industries is a purchasing opportunity independently and exclusively. This stock obviously was in an exchanging range for three weeks and is presently ready to go higher; that is the sense I get."


He additionally included, "Cipla is a purchase. There was a tolerable and sensible rectification in the stock and that redress was finished. Recently we had a decent day in Cipla and that is most likely a flag that the uptrend should proceed."
"My old top choice, Hindustan Unilever (HUL) is a purchasing opportunity. We have had three down days in it; it didn't take an interest in this 10,500 record in any event. Be that as it may, there is a restricted range and there is an inside day. So HUL is most likely eager to join that gathering once more."


"Truly Bank has come in purchase list before. After that huge decay, it was level and uniting, and that solidification to me is taking the state of a bullish example. Thus, we are actually purchasing on a plunge on the off chance that we are correct. So Yes Bank is a purchase."


"Bank of Baroda from the PSU banks, is a short offer. Keep short offers just intraday," he included.


Revelation: Reliance Industries Ltd. is the sole recipient of Independent Media Trust which controls Network18 Media and Investments Ltd.
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Tuesday, 26 December 2017

Book profits at higher levels; 4 stocks which could give up to 11% return


The Indian equity market witnessed a strong uptrend rally despite a negative momentum during the early weekday session on the backdrop of the election result.

The Nifty index managed to close above a crucial hurdle placed at 10,400 levels last week which enabled the index to breakout with a record high level at 10,501 but it failed to sustain above that level. However, the index closed on the positive trajectory at 10,493.

On the daily price chart, the index formed a hard bull candlestick pattern after consolidating for the past two sessions, indicating a possibility of a rally in the upcoming session.



Further, the force pointer turned positive with the relative quality record (RSI) at 63 step up from prior zone combined with MACD still over its Signal Line.

Given an unstable week in front of F&O expiry, the file is relied upon to exchange with the rangebound level at 10,550 on upside and 10,410 levels on the drawback.

In any case, it should support over 10,450 levels to proceed with the uptrend rally. We encourage financial specialists to book benefits at a more elevated amount in front of new arrangement.

Here is a rundown of best 4 stocks which could offer up to 11% return for the time being:

Puravankara Projects Ltd: BUY| Target Rs195 | Stop-misfortune Rs160 | Return 11%

Puravankara Projects exchanged on uptrend direction for a large portion of the session regardless of a minor solidification on specific levels.

Despite the fact that exchanging on level energy amid the early weekday's session, the stock saw a solid volume development towards the last exchanging session to enroll 52-week high at 182 levels however neglect to manage.

Notwithstanding, it figured out how to close the session with 5.07 percent pick up on an intraday premise. On the week by week value outline, the stock shaped a solid bullish candle design combined with its auxiliary energy showing a solid help for the uptrend.

The scrip likewise saw an essential bullish hybrid demonstrated by MACD which flags a positive pattern. With value exchanging over every one of the levels in the present session, a noteworthy help for the scrip is put at 151 levels and protection level at 182.

We have a BUY proposal for Puravankara which is as of now exchanging at Rs. 176.20

JK Paper Ltd: BUY | Target Rs155 | Stop-misfortune Rs135 |Return 8%

JK Paper saw a solid bullish inversion drift in the wake of solidifying at higher help level put almost 117 and kept on exchanging on uptrend direction.

In spite of exchanging on quieted development amid early session, the value incline bobbed on bullish front combined with volume bolster towards the end of the week and increased around 10 percent on week after week premise.

On the every day value diagram, the scrip shaped a bullish immersing sort of candle design recommending a conceivable up move in the up and coming session. Further, the RSI at 60s levels shows a great purchasing value zone for bulls combined with positive MACD at 5.42 still in place over its Signal Line.

With the present value exchanging most importantly moving normal levels, a noteworthy help for the scrip is seen at Rs133 and protection level is set at Rs159. We have a BUY suggestion for JK Paper which is at present exchanging at Rs143.85

Bombay Rayon Fashions: SELL| Target Rs145 | Stop-misfortune Rs160 | Return 5%

Bombay Rayon kept on confronting headwinds on its every day value development in the wake of enlisting 52-week high and saw a proceeded with free tumble to exchange at bring down level from that point.

In spite of seeing the up move it neglected to maintain and stayed under strain with negative viewpoint combined with bring down volume bolster.

On the week after week value outline, it shaped a solid bearish candle design which is relied upon to hold the stock under strain with no real breakout in here and now.

Further, the cost is at present underneath all the moving normal level combined with bearish hybrid on its energy pointer, along these lines showing a proceeded with negative viewpoint going ahead.

The stock is confronting protection at 168 levels while the help level is seen at 140. We have a SELL suggestion for Bombay Rayon which is presently exchanging at Rs. 152

Dilip Buildcon Ltd: BUY| Target Rs1044 | Stop-misfortune Rs. 978 | Return 5%

Dilip Buildcon saw a solid union at 880-911 levels amid the begin of the month giving a bearish viewpoint in the wake of arousing at a more elevated amount. In any case, amid the present session, the stock remembered from its urgent help level set close to 973 and gave a bullish inversion incline with 9.56 percent pick up on week after week premise.

In the wake of shutting the last session with 7% pick up, the stock framed a bullish candle design, demonstrating a bullish inversion drift in its day by day value diagram.

The force marker with RSI level at 69 additionally proposes a solid help for bullish uptrend combined with MACD demonstrating a bullish hybrid simply occurring at current administration.

Right now, the scrip is confronting a quick protection from its 52-weeks high at 1008 levels took after by 1210 and significant help will be seen at 933 levels. We have a BUY suggestion for Dilip Buildcon which is as of now exchanging at Rs. 993.85.

Disclaimer: The creator is Founder and CEO, 5nance.com. The perspectives and venture tips communicated by speculation master without anyone else and not that of the site or its administration. Moneycontrol.com encourages clients to check with guaranteed specialists before taking any venture choices.
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Monday, 25 December 2017

Strategy for expiry week: Initiate Modified Call Butterfly Spread in BANKNIFTY





Last week started with heightened volatility owing to State election’s result outcome. The Nifty made a swing low of 10,074.8; however recovered quickly to end the week at an all-time high of 10486, a gain of 1.5 percent.



Bank Nifty too made a swing low of 24,617 and ended the week with a gain of 0.7 percent at 25624. Option players remained active throughout the week.



10000 Put writers yet again provided strong support with OI base of over 9 million shares with bull taking full charge of momentum.



Week-over-week, Put writers have been shifting their base on the higher side with 10400 PE witnessing the incremental activity of 43 lakh shares while call writers at 10400-10500 unwinded their position by 25 lakh and 17 lakh shares respectively.



Nifty Option band now narrows down to 10400-10500. India VIX corrected drastically from over 15 to 11.4 level post-event signifying pessimism at rest.







Volatility is expected to remain near the lower-end in the coming sessions. PCR-OI strike wise moved higher above 2 for most of the strikes indicating Put writers taking the control.



Institution activity increased manifold mainly on account of rollover. Foreign institutional investors (FII’s) added to their synthetic position in the index options with 45,705 contracts to Synthetic Long (Call Long + Put Short ) while covered Synthetic Shorts (Put long + Call short) by 7,605 contracts.



BANKNIFTY too remains firm with 25,500 acting as a crucial support from the expiry perspective. Highest call congestion is placed at 26,000 with OI of 16 lakh shares.



Un-winding in 25600-25700 CE could pave ways for momentum towards 26000. Most of the private sector banks too saw short coverings by call writers indicating positive bias.



Thus to participate in positive momentum with low risk Bullish to Range bound strategy, Modified Call Butterfly Spread in BANKNIFTY is recommended.



Modified Long Call Butterfly is a Bullish to Range-bound strategy. It helps to execute a potential high-yielding trade at a very low cost. It is executed by buying 1 ATM CE, selling 2 OTM CE and buying 1 higher OTM CE with strike range being different.



The highest profit is made in the middle (sell) strike call; however, it reduces and provides constant profit above the third strike. Theta decay is beneficial if the Index trades at middle strike while at first strike and third strike it is harmful. Strike selection is a key to garner maximum benefit from this strategy.



Disclaimer: The author is CEO & Head of Research at Quantsapp Private Limited. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Friday, 22 December 2017

Bad loans will rise to 11.1% from 10.2% in a year: RBI


Mumbai: The Reserve Bank of India (RBI) has said that gross bad loans of banks are likely to rise to 11.1% by September 2018 from 10.2% as of September 2017. However, on the positive side, tests show that the degree of interconnectedness in the managing an account framework has diminished bit by bit since 2012.

"The general dangers to the managing an account area stayed raised because of benefit quality concerns. Amongst March and September 2017, the gross non-performing propels (GNPAs) proportion of booked business banks (SCBs) expanded from 9.6% to 10.2% and the focused on progresses proportion possibly expanded from 12.1% to 12.2%," the RBI said in its monetary soundness report (FSR) discharged on Thursday.

"The large scale pressure test for credit chance demonstrates that under the pattern full scale situation, the gross non-performing resources may increment to 10.8% by March 2018 and further to 11.1% by September 2018," the report said

Among different dangers to Indian banks, the report has hailed monetary innovation organizations and digital currencies as a potential hazard. "Specifically, more prominent acknowledgment of digital forms of money is turning into an impressive hazard to the conventional saving money framework," the report said.

On online risks, the RBI said that the policy push towards digitisation of the financial system hinges crucially on a robust cyber-security framework. The RBI said that it has set up an inter-disciplinary standing committee to review the threats inherent in the existing/emerging technology on an ongoing basis.

Despite the concerns thrown up by stress tests, the RBI is optimistic on the growth front. "Domestically, the economy appears to have rebounded after the initial hiccups associated with the rollout of nationwide goods and services tax (GST), coming on the back of demonetisation. While the ongoing de-leveraging in the heavily indebted parts of the corporate sector and muted credit growth in the public sector banks pose a risk to growth, the decisive recapitalisation move by the government could provide the much needed fillip to private investment going forward," deputy governor N S Vishwanathan said in a foreword to the report.

In a different give an account of 'The Trends and Progress of Banking in India', the RBI said that the Financial Resolution and Deposit Insurance Bill, 2017 presented in Lok Sabha will address the ethical risk issue related with different types of government ensures.

The ethical risk alludes to loan specialists with poor reputation having the capacity to raise reserves at same rates as the best depends on the back of an administration ensure. As indicated by the RBI, the new bill gives fast and productive determination of misery for specific classifications of monetary specialist co-ops and prescribes foundation of a Resolution Corporation (RC) for insurance of buyers of indicated specialist co-ops and of open assets.
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Thursday, 21 December 2017

Asian Research House: Tata Steel's rights issue gets green signal from i...

Asian Research House: Tata Steel's rights issue gets green signal from i...: Tata Steel has Planned to raise stores from rights issue to production capacity. This shows the nation's most seasoned steel organizat...

Tata Steel's rights issue gets green signal from investor


Tata Steel has Planned to raise stores from rights issue to production capacity. This shows the nation's most seasoned steel organization is anticipating that the request should develop in the coming years. Raising money designs may expand financial specialist trust in the organization. Rights issue can likewise build promoter's stake in the organization. Steel organization has said that it will build the creation limit of Kalinganagar Plant in Odisha by 5 million tons. This will expand the organization's aggregate generation ability to 18 million tons every year. The generation limit of Tata Steel's Kalinganagar plant is only 30 lakh tons, while Jamshedpur plant's creation limit is 10 million tons.

Under this arrangement, the organization will likewise expand the limits of crude materials and will put resources into framework ie upstream and downstream office. Goodbye Steel has arranged a capital consumption of Rs 23,500 crore for a long time. Value and obligation will be utilized to raise stores for this. This can expand the organization's piece of the pie in esteem included items. The cost of Phase 2 Brownfield Expansion in Kalinganagar Plant is required to be $ 730 for every ton, which looks fine. In the principal stage, its cost was $ 1,300 for each ton. Actually, the organization needed to burn through cash on gaining land in Phase 1, which cost the cost.

Goodbye Steel is raising Rs 12,800 crore rights issue. This will expand the quantity of outstation shares by 16%. The rights issue will likewise allow promoters to build stake in the organization. The promoter Tata Group now holds 31.35 percent offers of the organization. It has frequently been seen that after the rights issue the promoters develop in the holding organization. The purpose behind this is not all investors demonstrate enthusiasm for subscribing to it.

Capital Expenditure Plan likewise implies that Tata Steel can get some focused on resources in the nation. In any case, for that, he would not have any desire to put excessively load on the asset report. Expanding the generation limit of Kalinganagar plant will help the organization to accomplish its objective of multiplying the creation limit throughout the following five years. Experts say that in the following four years, Tata Steel will get an incremental income of 9,000 crores, which will be sufficient for the Phase 2 extension of Kalinga Nagar. This will likewise help the organization to decrease obligation.

The organization has got money benefits of Rs 4,913 crore in the principal half of this monetary year, while it has an obligation of 90,000 crore rupees. This recommends Tata Steel can get great comes back from financial specialists in the long haul from the medium. The offers of the organization shut at Rs 702.2 on Wednesday.
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Wednesday, 20 December 2017

रूरल इंडिया पर फोकस बढ़ने की आस में नए शिखर पर पहुंचा बाजार




शेयर बाजार मंगलवार को नए शिखर पर पहुंच गया। ऑटो स्टॉक्स ने बाजार की तेजी में बड़ा रोल निभाया। निवेशकों को लग रहा है कि सरकार ग्रामीण अर्थव्यवस्था की हालत सुधारने पर ध्यान देगी, जिससे ऑटो कंपनियों को फायदा होगा। गुजरात चुनाव के नतीजों से पता चला कि बीजेपी का किसानों में जनाधार काफी कम हुआ है। इस वजह से ऐसी अटकलें लग रही हैं। डॉलर के मुकाबले रुपये के तीन महीने के पीक पर पहुंचने से भी शेयरों को लेकर सेंटीमेंट मजबूत रहा।
सेंसेक्स 0.7% चढ़कर 33,836.74 पर बंद हुआ। इंट्राडे में यह 33,862.07 तक चला गया था, जिससे इंडेक्स 7 नवंबर के 33,865.96 के लाइफ टाइम लेवल के काफी करीब पहुंच गया था। निफ्टी भी 0.7 पर्सेंट चढ़कर 10,463.20 पर रहा। इंट्राडे में यह 10,472.20 तक गया था। निफ्टी ने 10,490.45 का लाइफ टाइम हाई लेवल 6 नवंबर को छुआ था। बीएसई मिडकैप इंडेक्स भी नए शिखर पर बंद हुआ। यह 1.5 पर्सेंट की तेजी के साथ 17,356.19 पर पहुंच गया। मार्केट में पहले जैसी घबराहट नहीं दिख रही है। वोलैटिलिटी इंडेक्स यानी विक्स मंगलवार को 7 पर्सेंट की गिरावट के साथ 12.19 पर आ गया। इसका मतलब यह है कि ट्रेडर्स को शॉर्ट टर्म में बाजार में ज्यादा जोखिम नहीं दिख रहा है।

बीजेपी ने सोमवार को 182 सीटों वाली गुजरात विधानसभा में 99 सीटों के साथ जीत हासिल की, लेकिन उसे 2012 से कम सीटें मिलीं। पिछले हफ्ते एग्जिट पोल में पार्टी की 99-135 सीटों के साथ जीत की भविष्यवाणी की गई थी। बिड़ला सनलाइफ म्यूचुअल फंड के को-चीफ इनवेस्टमेंट ऑफिसर महेश पाटील ने बताया, 'बजट में ग्रामीण इलाकों पर फोकस बढ़ सकता है। किसानों की हालत इधर काफी खराब रही है। सरकार का ध्यान ग्रामीण अर्थव्यवस्था की रफ्तार बढ़ाने पर होगा, लेकिन वह लोकलुभावन नीतियों का ऐलान नहीं करेगी।' इकनॉमिक टाइम्स ने मंगलवार के अंक में खबर दी थी कि 2019 लोकसभा चुनाव की वजह से सरकार का ध्यान रूरल इकनॉमी पर बढ़ सकता है।

सेंसेक्स में मारुति सुजुकी, हीरो मोटोकॉर्प, टाटा मोटर्स, बजाज ऑटो और एमएंडएम के शेयरों में सबसे अधिक तेजी आई। ये 2-5 पर्सेंट ऊपर बंद हुए। रुपये में मजबूती का आईटी स्टॉक्स पर बुरा असर पड़ा और इंफोसिस व विप्रो में 1 पर्सेंट की गिरावट आई। डॉलर के मुकाबले रुपया 0.3 पर्सेंट मजबूत होकर 64.04 पर रहा। भारतीय करेंसी का यह लेवल पिछली बार 13 सितंबर को दिखा था। विदेशी संस्थागत निवेशकों (एफआईआई) ने मंगलवार को 407.83 करोड़ रुपये के शेयर बेचे, जबकि म्यूचुअल फंड्स और इंश्योरेंस कंपनियों जैसे डोमेस्टिक इंस्टीट्यूशनल इनवेस्टर्स ने 357.4 करोड़ रुपये बाजार में लगाए। मंगलवार के इन अस्थायी आंकड़ों को शामिल किया जाए तो एफआईआई दिसंबर में 3,800 करोड़ रुपये की बिकवाली कर चुके हैं। वहीं, इस साल अब तक उन्होंने मार्केट में 52,890 करोड़ रुपये लगाए हैं। डीआईआई ने दिसंबर में 6,026 करोड़ रुपये का निवेश किया है।

मार्केट एक्सपर्ट्स का कहना है कि प्रधानमंत्री नरेंद्र मोदी के गृह राज्य बीजेपी में जीत के बाद बाजार में स्थिरता लौट आई है। आईसीआईसीआई सिक्योरिटीज के सीआईओ पीयूष गर्ग ने बताया, 'ग्लोबल मार्केट्स में तेजी से भी भारतीय शेयर बाजार को सपोर्ट मिल रहा है। गुजरात में बीजेपी की जीत की उम्मीद की जा रही थी, जो सच साबित हुई। एग्रीकल्चर सेक्टर और रोजगार बढ़ाने पर सरकार का फोकस आने वाले वक्त में हो सकता है।' फंड मैनेजरों का कहना है कि बाजार का वैल्यूएशन बहुत अधिक है। इसलिए मौजूदा लेवल से बहुत तेजी की उम्मीद नहीं है। इमर्जिंग मार्केट्स में भारतीय बाजार काफी महंगा है। निफ्टी में वित्त वर्ष 2019 के अनुमानित ईपीएस के 16.7 गुना पर ट्रेडिंग हो रही है, जबकि एमएससीआई इमर्जिंग मार्केट इंडेक्स में 12.1 के पीई पर ट्रेडिंग हो रही है। 2017 में अब तक सेंसेक्स और निफ्टी में 27 पर्सेंट की तेजी आई है, जबकि एमएससीआई इमर्जिंग मार्केट इंडेक्स 30 पर्सेंट चढ़ा है। अब बाजार की नजर बजट पर होगी। कई निवेशकों का मानना है कि सरकार फिस्कल डेफिसिट पर वादा पूरा नहीं कर पाएगी। हालांकि, वित्त मंत्री अरुण जेटली ने सोमवार को कहा था कि रूरल इंडिया और एग्रीकल्चर सेक्टर पर ध्यान देने का मतलब यह नहीं है कि लोकलुभावन वादे किए जाएंगे। उन्होंने कहा था, 'रूरल इंडिया पर खर्च बढ़ाने की जरूरत है।' नीति आयोग के वाइस चेयरमैन राजीव कुमार ने कहा कि अगर फिस्कल डेफिसिट टारगेट में डील दी जाती है तो उसके अच्छे नतीजे दिख सकते हैं।


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Monday, 18 December 2017

Asian Research House: snesex falls by more than 800 points nifty dips 25...

Asian Research House: snesex falls by more than 800 points nifty dips 25...: Checking of votes is going ahead after the get together races in New Delhi, Gujarat and Himachal Pradesh. In both the preparatory patterns...

snesex falls by more than 800 points nifty dips 250 points


Checking of votes is going ahead after the get together races in New Delhi, Gujarat and Himachal Pradesh. In both the preparatory patterns, the BJP is by all accounts contending energetically with the Congress . Its immediate effect is being seen on the stock trade. On Monday, the Bombay Stock Exchange's BSE Sensex shut 800 focuses, while the National Stock Exchange's Nifty fell by 250 focuses to open. Particularly the organizations related with Gujarat are under gigantic weight. Without a doubt, in the dread of BJP's annihilation, financial specialists have turned out to be cognizant and are shopping or offering as per patterns.






Clever stocks like Reliance, SBI, Maruti Suzuki, Axis Bank and HDFC Bank, while stocks like Cipla, Sun Pharma and Asian Paints are exchanging relentlessly Are there. On the Bombay Stock Exchange, offers, for example, ICICI Bank, Bharti Airtel, Reliance, Axis Bank and HDFC Bank were broken. It's obvious, Gujarat and Himachal Pradesh gathering decisions results,however, after the enormous fall the market began picking up gradually and at 9:31, the Nifty was exchanging 118.60, that is 1.15%, at 10214.70, while the Sensex

It was exchanging at 373.27 focuses, down 1.12 percent, to 33089.70 focuses. Then again, the Nifty bank was exchanging 182.60 focuses, i.e. 1.62 percent, the shortcoming of 11105.70 focuses, the BSE Small Cap file fell by 282.14 focuses, ie 1.55 percent, the offers of BSE Midcaps were exchanging at 183.09 focuses, i.e. 1.08 percent, at 16791.63. Read, Gujarat get together surveys keep on counting, patterns demonstrate most of the BJP

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Friday, 15 December 2017

Asian Research House: You can link Aadhaar with phone till Mar 31

Asian Research House: You can link Aadhaar with phone till Mar 31: NEW DELHI: The Center on Thursday acknowledged the Supreme Court's proposal to expand the Aadhaar-cell phone linkage due date from Febr...

You can link Aadhaar with phone till Mar 31

NEW DELHI: The Center on Thursday acknowledged the Supreme Court's proposal to expand the Aadhaar-cell phone linkage due date from February 6 to March 31, the date now set by the legislature for seeding Aadhaar in all plans, including financial balances.






In the midst of mighty contentions from applicants spoke to by a large group of senior backers drove by Shyam Divan for a stay on influencing Aadhaar required to till the SC chooses its legitimacy, the peak court proposed to lawyer general K Venugopal that the Aadhaar-cell phone linkage due date could be stretched out to March 31, as has been improved the situation 139 different plans.
In light of the perspectives communicated by a seat of Chief Justice Dipak Misra and Justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan, Venugopal said the February 6, 2018 due date for Aadhaar-cell phone linkage was settled by the SC and that the Center would have no protest if the court extended it to March 31. The seat said it would pass proper requests on Friday.
The seat additionally said it would begin last hearings of every single pending appeal testing the legitimacy of Aadhaar from January 10. K V Vishwanathan, guide for one of the applicants, said the expansion was unimportant as banks kept on constraining individuals to enlist for Aadhaar for opening new records in spite of a five-judge Constitution seat passing a between time arrange on October 15, 2015 controlling the legislature from making Aadhaar compulsory and enabling linkage of Aadhaar to six social welfare plans.

Venugopal said Aadhaar as a personality evidence was requested by banks for opening of records as a feature of an organized battle against counterfeit records, tax evasion and course of dark cash. The AG said people opening new records in banks should either deliver an Aadhaar number or verification of utilization for Aadhaar. The Center was not willing to forgo this condition, nor concede its implementation till March 31, Venugopal said.


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Thursday, 14 December 2017

मार्केट कैप के लिहाज से दुनिया का 8वां बड़ा बाजार बना भारत

भारतीय शेयर बाजार में आई जबरदस्त तेजी का दौर मार्केट कैपिटलाइजेशन के हिसाब से दुनिया की टॉप 10 देशों की रैंकिंग में लगातार बड़े बदलाव कर रहा है। इंडियन स्टॉक मार्केट इस साल अब तक अपने मार्केट कैपिटलाइजेशन में आई 49 पर्सेंट की तेज उछाल के साथ टॉप 10 लिस्ट में कनाडा को पीछे छोड़ते हुए डॉलर टर्म में पहली बार 8वें नंबर पर आ गया है। ब्लूमबर्ग के डेटा के मुताबिक बुधवार को इंडिया का मार्केट कैपिटलाइजेशन 2.28 लाख करोड़ डॉलर जबकि कनाडा का मार्केट कैप 2.21 लाख करोड़ डॉलर रहा।


इस साल अब तक इंडिया का मार्केट कैपिटलाइजेशन 46 पर्सेंट बढ़ा है। इस हिसाब से टॉप 10 मार्केट कैप वाले देशों में सबसे तेज उछाल इंडिया में ही आई है। इस दौरान कनाडा के मार्केट कैपिटलाइजेशन में 12.4 पर्सेंट की बढ़ोतरी हुई है। इंडिया के मार्केट कैपिटलाइजेशन में तीन वजहों से बढ़ोतरी हुई है। पहली, इसका बेंचमार्क इंडेक्स सेंसेक्स रुपी टर्म में 24 पर्सेंट चढ़ा है। दूसरा, इस साल लोकल करेंसी यानी रुपये में डॉलर के मुकाबले 12 पर्सेंट की मजबूती आई है। लोकल करेंसी में आई मजबूती डॉलर के हिसाब से ज्यादा पड़ता है। बड़े इमर्जिंग मार्केट्स में रुपये में डॉलर के मुकाबले चौथी सबसे बड़ी ऊंची उछाल आई है। तीसरी, आईपीओ मार्केट में बढ़ी गहमागहमी का भी मार्केट कैपिटलाइजेशन बढ़ाने में बड़ा हाथ रहा है। इस साल अब तक 82 इंडियन कंपनियों ने आईपीओ के जरिए 71,687 करोड़ रुपये ($11.2 अरब) से ज्यादा रकम जुटार्इ। इनके चलते मार्केट फ्लोट में $160 अरब की बढ़ोतरी हुई। ईटीआईजी डेटाबेस के मुताबिक, आईपीओ रूट से इस साल किसी भी कैलेंडर ईयर में सबसे ज्यादा रकम जुटाई गई है।

इंडियन शेयर मार्केट में इतना ज्यादा रिटर्न जेनरेट होने के बावजूद टोटल वर्ल्ड कैपिटलाइजेशन में भारतीय बाजार की हिस्सेदारी 2010 के लेवल से 13.8 पर्सेंट कम है। ग्लोबल मार्केट कैपिटलाइजेशन में इंडिया का शेयर 2.87 पर्सेंट है जबकि इसका 10 साल का औसत 2.46 पर्सेंट है।


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Wednesday, 13 December 2017

Asian Research House: 2018 में इन 10 शेयरों से पैसा बनाने का मौका

Asian Research House: 2018 में इन 10 शेयरों से पैसा बनाने का मौका: कई विदेशी ब्रोकरेज हाउसों का मानना है कि 2018 में भी भारतीय शेयर बाजार से बढ़िया पैसा बनेगा। वे नए साल में 8-17 पर्सेंट रिटर्न की उम्मीद...

2018 में इन 10 शेयरों से पैसा बनाने का मौका


कई विदेशी ब्रोकरेज हाउसों का मानना है कि 2018 में भी भारतीय शेयर बाजार से बढ़िया पैसा बनेगा। वे नए साल में 8-17 पर्सेंट रिटर्न की उम्मीद कर रहे हैं। ब्रोकरेज हाउसों के मुताबिक, शेयर बाजार से यह रिटर्न ऐसे माहौल में मिल सकता है जब फिक्स्ड इंस्ट्रूमेंट पर ब्याज दरों में कमी आ रही है और प्रॉपर्टी मार्केट कमजोर बना हुआ है। दूसरी तरफ, म्यूचुअल फंड्स में आम लोग अधिक पैसा लगा रहे हैं


मॉर्गन स्टेनली का कहना है कि 2018 में सेंसेक्स 35,700 के लेवल तक जा सकता है। जापान के ब्रोकरेज हाउस नोमुरा ने अगले साल निफ्टी के 11,880 तक पहुंचने की बात कही है। अमेरिकी फर्म गोल्डमैन सैक्स का कहना है कि सेंसेक्स और निफ्टी से 2018 में 16 पर्सेंट का रिटर्न मिल सकता है। अगर आप सीधे शेयरों में निवेश करते हैं तो यह जानना जरूरी है कि किन स्टॉक्स से अधिक रिटर्न मिल सकता है। नोमुरा इंडिया ने ऐसे 10 स्टॉक्स की लिस्ट जारी की है, जिनसे उसने 32 पर्सेंट तक रिटर्न का दावा किया है। इनमें से अधिकतर शेयर सेंसेक्स और निफ्टी 50 इंडेक्स में शामिल हैं। नोमुरा इंडिया का कहना है कि गेल 600 रुपये तक जा सकता है। यह मौजूदा लेवल से 30 पर्सेंट अधिक है।


ब्रोकरेज हाउस ने कहा, 'हेनरी-हब कॉन्ट्रैक्ट को लेकर मार्केट की वॉल्युम संबंधी ज्यादातर चिंताएं दूर हो गई हैं। कंपनी नई पेटकेम फसिलटी की प्रॉडक्शन कपेसिटी का करीब-करीब पूरा इस्तेमाल कर रही है। डोमेस्टिक गैस प्रॉडक्शन में कई साल की गिरावट के बाद अब बढ़ोतरी हो रही है। इससे एलपीजी प्रॉडक्शन भी बढ़ा है। यूनिफाइड या पूल्ड टैरिफ के प्रस्ताव से गेल को काफी फायदा हो सकता है।'


रिलायंस इंडस्ट्रीज के बारे में ब्रोकरेज फर्म ने कहा है कि इसकी री-रेटिंग जारी रहेगी। 2017 में कंपनी के शेयर में 70 पर्सेंट की तेजी आई, जबकि इस दौरान सेंसेक्स सिर्फ 24 पर्सेंट चढ़ा। नोमुरा इंडिया की रिपोर्ट में कहा गया है, 'टैरिफ, ग्राहकों को बनाए रखने, उनकी संख्या के मामले में रिलायंस जियो ने मार्केट को हैरान किया है। इसके साथ रिलायंस इंडस्ट्रीज की रिफाइनिंग और पेटकेम डिवीजन का परफॉर्मेंस भी मजबूत रहा है और इसमें और सुधार की उम्मीद है। वित्त वर्ष 2018 में कंपनी के मुनाफे में 34 पर्सेंट की ग्रोथ के बाद वित्त वर्ष 2019-20 के बीच 2-25 पर्सेंट की बढ़ोतरी हो सकती है।'

नोमुरा ने महिंद्रा ऐंड महिंद्रा को भी टॉप 10 स्टॉक्स में शामिल किया है। ब्रोकरेज फर्म का कहना है कि यूटिलिटी वीइकल सेगमेंट में अच्छी ग्रोथ दिख रही है, जिसका फायदा महिंद्रा ऐंड महिंद्रा को मिलेगा। जनवरी-मार्च 2018 तिमाही में कंपनी इस सेगमेंट में नई गाड़ियां लॉन्च कर रही है। इसके साथ उसे रूरल डिमांड का भी लाभ मिल सकता है। ब्रोकरेज हाउस का दावा है कि कंपनी के शेयर अट्रैक्टिव वैल्युएशन पर मिल रहे हैं। महिंद्रा ऐंड महिंद्रा का शेयर वित्त वर्ष 2019 की अनुमानित अर्निंग के हिसाब से 12 के पीई पर ट्रेड कर रहा है, जबकि इस सेक्टर का ऐवरिज पीई 19 है।

मारुति सुजुकी और अशोक लीलैंड से भी उसे बेहतर प्रदर्शन की उम्मीद है। मारुति प्रीमियम गाड़ियों पर फोकस कर रही है, जिसका फायदा उसे नए साल में मिल सकता है। वह नए मॉडल्स भी तेजी से लॉन्च कर रही है। अशोक लीलैंड को मीडियम हेवी कमर्शल वीइकल (एमएचसीवी) और हायर टनेजवाली गाड़ियों की मांग बढ़ने से फायदा होगा। कंपनी को 70 पर्सेंट आमदनी एमएचसीवी सेगमेंट से मिलती है।

नोमुरा इंडिया के टॉप पिक्स में बैंकिंग सेक्टर से एसबीआई और एचडीएफसी बैंक शामिल हैं। 2018 में दोनों के शेयर प्राइस में 23 पर्सेंट की तेजी आ सकती है। ब्रोकरेज हाउस के मुताबिक, एसबीआई की ऐसेट क्वॉलिटी में सुधार होगा, जिससे शेयर प्राइस में तेजी आएगी। उसका दावा है कि एचडीएफसी बैंक की प्रॉफिट ग्रोथ तेज बनी रहेगी, इसलिए उसके शेयर प्रीमियम वैल्यूएशन पर ट्रेड करते रहेंगे। पीएनसी इंफ्रा और श्रीराम ट्रांसपोर्ट पर भी ब्रोकरेज हाउस बुलिश है।
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EOW takes over Rs 7,035 crore Pan Card probe, files case against 6 directors


MUMBAI: In maybe the greatest ever venture duping case in the city, the financial offenses wing (EOW) assumed control over the test in PanCard Clubs (PCL) situation where more than 50 lakh speculators were professedly hoodwinked of around Rs 7,035 crore.

Prior, business sectors controller Securities and Exchange Board of India (Sebi) had asked PCL, a timeshare organization, to not offer its properties. It had likewise delegated resigned Judge R M Lodha for offering PAL's properties and to utilize the deal continues to discount financial specialists who had put in their cash in the organization's plans.

An EOW officer said the organization has enrolled an instance of tricking under the Indian Penal Code and furthermore conjured areas of the Maharashtra Protection of Interest of Depositors (MPID) Act against PCL and its six executives.

"Their head office at Prabhadevi is presently closed," said a cop. It was Narendra Vataukar (42), a Dadar occupant, who held up a police protest against PCL on December 10.

"PCL had thought of plans for inn remains. They would select individuals and request that they contribute. It would offer occasion bundles at these inns," said an officer.

A few speculators who were guaranteed higher returns did not profit of the occasion bundles. Then, a financial specialist griped about this to Sebi, which thusly started an investigation into the issue.

The controller found that the organization ran an aggregate speculation plot (CIS) for which Sebi's endorsement was required. The chiefs, however, did not have any consent to run this plan.

Its test uncovered that simply 1% of the financial specialists had utilized this office.

Prior, Sebi had put confinements on the firm and requesting that it close down its business, saying it can't acknowledge new stores and should restore financial specialists' assets inside three months+ . Sebi likewise requested the firm to not offer any of its properties. PCL tested this request in the Securities Appellate Tribunal (SAT). SAT, however, maintained the Sebi arrange.

The market controller has officially appended 34 properties of PCL and solidified more than 250 financial balances. The properties incorporate land packages, resorts, structures and office spaces the nation over.

It was a financial specialist who moved toward Dadar police headquarters and held up a bamboozling objection of Rs 40,000. That separated, 82 more speculators moved toward EOW with comparable grumblings against PCL. Sebi authorities have revealed to EOW that there are 51 lakh financial specialists and PCL gathered Rs 7,035 crore as speculation. We have recently assumed control over the test from the police headquarters and will begin gathering reports identified with the case and recording of casualties' announcements," said an officer.

A large portion of PCL's financial specialists are from white collar class families and spread the nation over. The connection of properties started after the organization neglected to consent to Sebi's course to discount over Rs 7,000 crore to speculators raised through illicit CIS.


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Tuesday, 12 December 2017

A blockchain tech company raised $42.5 million in 2 weeks - in 'one of the easiest fundraising processes ever'

BitGo, a US-based blockchain innovation organization, brought $42.5 million up in a Series B gathering pledges round, the organization declared Monday.

BitGo, which is headquartered in Palo Alto, California, said it will utilize the cash to grow its business outside the US to enable more organizations to plunge into the incipient advanced coin advertise. Speculative stock investments and other institutional financial specialists use BitGo's innovation to defeat some of hazard and consistence issues related with advanced monetary standards.

The raise money was driven by Valor Equity Partners, as indicated by the firm, with DRW, a Chicago-based exchanging firm, additionally taking an interest. As of now, various organizations use BitGo's innovation to control their own cryptographic money items, including CME Group and The Royal Mint.

A representative for the firm disclosed to Business Insider the raise support took two weeks. The length of the raising money round is striking, reflecting the speed at which cryptographic forms of money, for example, bitcoin have acknowledged as of late.

"This has been one of the most effortless gathering pledges forms ever," CEO Mike Belshe, a designer who was among the first to chip away at the Google Chrome group, disclosed to Business Insider in a meeting.

Belshe said 2018 will be the year in which conventional resource directors and multifaceted investments enter the market.

"We should be set up for the $1 billion reserve which needs our innovation," Belshe said.

Crypto-centered flexible investments have propelled for the current year at an eye-popping rate, as indicated by fintech examination firm Autonomous NEXT. The dispatch of bitcoin fates by two built up trades in December could additionally push the digital money advertise, which surpasses $400 billion , higher than ever one year from now.
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Monday, 11 December 2017

Nearly 30 stocks where MFs raised stake more than doubled wealth in 2017; do you own any?





After a flat 2016, bulls clearly dominated D-Street in 2017 as benchmark indices rallied
nearly 25 percent in the year. The biggest contributor to the rally were retail investors as
more household savings got channelized into equity markets via mutual funds (MFs).
Small and midcap stocks rallied, thanks to record inflows from mutual fund throughout the
year 2017. As many as 28 stocks in which fund managers raised stake throughout 2017 more
than doubled investors’ wealth which includes names like HEG, Yuken Ltd, V2 Retail, Dilip
Buildcon, Minda Industries, SpiceJet, JM Financial, NOCIL, Ramkrishna Forging, Tata
Metaliks, Jindal Steel etc. among others.
Majority of stocks mentioned in the list belong to the small and midcap space. It looks like
mutual fund managers are testing new waters as some of the investment made are for the
very first time in the year 2017.
Fund managers raised stake from 0.04 percent to 1.6 percent in HEG which has already
given a return of over 1000 percent so far in the year 2017.



Similarly, Fund managers raised stake in Dilip Buildcon from 2.92 percent in the March
quarter to 5.04 percent recorded in the September quarter.

A large part of this growth in the midcap and smallcap is because of the liquidity that we
have witnessed in India -- domestic liquidity which we think is a structural trend. It is not
something that it will vanish
,” Sanjeev Zarbade, Vice-president – PCG Research at Kotak
Securities told Moneycontrol.
We have just around three-four percent of our retail assets in mutual funds and equity. It is
almost 15-20 percent for the developed markets. Provided these midcaps and smallcaps don’t
mess in terms of going for badly priced acquisitions or taking some steps which are not in the
right spirit of the corporate governance, they should be able to do well over the next four-five
year
s,” he said.







Note: The above list for reference purpose. Moneycontrol.com advises users to check with
certified experts before taking any investment decisions.
Indian markets rallied in one straight line without giving investors any big opportunity to
enter. The market bounced back swiftly after 3-4 percent correction; hence, plenty of money
is still standing on the sidelines ready to get invested.

If there is a big correction in the market, it will be quickly bought into especially by the
institution which are sitting on a big cash pile.
Retail investors have pumped in Rs 1.26 lakh crore into mutual funds in the month of
November, driving industry assets under management to an all-time high of Rs 21.8 lakh
crore.
With the latest inflow, total infusion in MF schemes reached Rs 3.8 lakh crore in the first
eight months (April- November) of the current fiscal, latest data with Association of Mutual
Funds in India (Amfi) showed.
Equity and equity-linked schemes attracted over Rs. 20,300 crore. In addition, more than Rs
7,600 crore was invested in balanced funds. Further, over Rs 9,300 crore was put in the debt
funds. In contrast, gold ETFs continued to see a net outflow of Rs 89 crore.
If we look at the trend for equity schemes, MFs have poured in more than Rs 30,000 crore in
the December quarter, according to data collated from Capitaline.
The amount of money going into equity schemes more than doubled in the last three years.
Fund managers were pouring a little over Rs 14,000 crore in the December quarter, back in
the year 2014 which has now reached well above Rs 30,000 crore in the year 2017.
Fund managers have already poured in a little over Rs 31,000 crore so far in the December
quarter of 2017.

“Inflows into domestic Mutual Funds continue to remain strong since mid-2014. Domestic
flows have contributed significantly to equity investments while foreign investments, on the
other hand, remained volatile. Increasing return on equity in the US may shift the flow of
funds,” BofAML said in a report.
“Primary issuance in India too has been strong in 1HFY18. Further, equity issuance to the
tune of USD 5 billion is expected in the near future. The supply of money will create demand
and help in growing infrastructure,” it said.
Stocks in which MF have a double-digit stake:
Many small and midcap stocks in which fund managers have a double-digit stake have
managed to outperform Nifty50 returns so far in the year 2017. As many as 30 out of 83
stocks have given negative return while the rest managed to outperform Nifty.
Some of the stocks in which fund managers have double-digit stake include names like
Equitas Holdings, Max Financial, KNR Construction, Federal Bank, India Terrain, Repco

Home Finance, HSIL, Atul, Tata Chemicals, BEML, PNC Infratech, and CG Power etc.
among others.
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Thursday, 7 December 2017

Asian Research House: Here’s how a hot company can go public without an ...

Asian Research House: Here’s how a hot company can go public without an ...: Get Free Trail Here Spotify, the song selection service, has suggested that it might list its shares for trading on an exchange with...

Here’s how a hot company can go public without an IPO


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Spotify, the song selection service, has suggested that it might list its shares for trading on an exchange without doing an initial public offering (IPO). This process, which we call “direct listings,” has significant advantages for both large, so-called unicorns trying to provide a liquid market for their shares and smaller private companies trying to raise capital quickly.

Yet this process has been rarely utilized, so it deserves more attention from both company executives and securities regulators.




 

Searching for direct listings over the last two decades, we found only 11 examples — all of them small companies with a median market capitalization of $530 million. All followed a similar pattern — a private offering by a privately held company of its own shares to raise capital, with a commitment to the purchasers to list the company’s shares for trading on Nasdaq NDAQ, -0.24% within one year. If that deadline was not met, the company’s executives would not get bonuses for that year.

For these companies, directing listings had one key advantage — speed of capital-raising. If a company decided to do a direct listing, it had to wait just six weeks on average to receive the needed funds. This period included the time needed to complete the due diligence, prepare the documents, and find qualified purchasers.

By contrast, if the same company tried to sell its shares through an IPO, that process would have taken at least three months, and possibly up to a year, to file the relevant documents with the SEC, respond to comments and wait for “clearance” from the SEC staff. During that time period, the price of the stock offering could have declined or the window for capital raising could have closed.




Of course, the purchasers in the private offering had to wait longer than in an IPO for their shares to begin trading on an exchange. After the private offering was completed, the company filed a registration statement for its shares with the SEC and waited to obtain staff “clearance.” To list the shares for trading, the company also had to file other forms with the SEC and the exchange.


While these purchasers obviously wanted a liquid market to trade their shares, they were less time-sensitive than the companies selling these shares in a private offering. These purchasers expected to be compensated for delayed public trading by paying a lower price-per-share than they would have paid in an IPO. Yet these purchasers were better off in a direct listing than in a simple private offering, where their ability to trade their shares would have been limited to qualified purchasers in a private venue.

Transaction costs for these 11 direct listings related to recent private offerings were about the same as those for companies of comparable size that listed for public trading through IPOs in the same years. In both cases, companies usually paid the underwriter or broker a 7% commission for raising the capital. Similarly, according to our interviews, the legal costs for a direct listing were only slightly lower than for an IPO. In both cases, the lawyers did due diligence, negotiated with an investment bank and prepared SEC filings.

The trading market — as measured by volume and spreads — was initially weaker in direct listings than in IPOs. That’s because the syndicate behind an IPO generated a lot of investor interest, and the primary underwriter in an IPO typically agreed to support the after-market. Nevertheless, these differences disappeared three months after public trading began. Similarly, in the fourth month after trading began, the number of analysts covering direct listings was almost exactly the same as in IPOs.

Thus, in the past, direct listings have offered a few companies a much faster way to raise capital than an IPO with similar costs. Going forward, direct listings would be most attractive when a small- or midsize company is raising capital through a private offering, since the company already must go through a due diligence process and prepare an offering circular for purchasers. Moreover, when trading does begin, the market makers on the exchange have a recent reference price for the company’s shares — set by sophisticated investors.

At the same time, direct listings also should be seriously considered by large, well-known private companies such as Spotify, which may not need to raise more capital quickly. Rather, these companies are likely interested in providing a liquid market for their employees and founding investors, who want to reap their unrealized gains and diversify their portfolios. These companies could file a registration statement with the SEC for public trading of a specified number of shares held by their employees and founders.

Companies like Spotify have a vast base of potential investors because consumers know their products and services. With such a strong base, financial firms will be interested in making a market for the shares of these better-known companies if they were listed on an exchange — without a private offering or IPO. That way, companies like Spotify can avoid the 7% commission charged by investment bankers.

However, without a related capital raising to set a reference price, an exchange listing poses a challenge for the market makers to value the company’s shares when they start trading. Perhaps a reference price could be set based on a recent private sale of shares by employees or founding shareholders. In any event, to help establish a reference price for trading, the company could hire an investment bank to value its shares and promulgate its valuation report.

More broadly, a company like Spotify may be wary of the pressures involved with a public listing — from both Wall Street analysts on quarterly earnings and activist funds on strategic issues. To reduce such pressures, a company might list only 20% of its shares for exchange trading so that the insider group can retain effective control of corporate decisions.

Given these advantages of direct listings, the SEC should facilitate them by taking two actions:

First, the SEC should approve the proposed NYSE ICE, -0.30% rule change to permit direct listings there, just as they have long been permitted by Nasdaq’s rules.

Second, the SEC should clarify that the benefits of the JOBS Act for emerging growth companies extend to companies going public by direct listings in addition to IPOs. These benefits include a two-year exemption from internal controls reports, confidential treatment of filings at the SEC, and more flexibility to talk about the company as its filings are being processed by the SEC staff.

Robert Pozen is a Senior Lecturer at MIT Sloan School of Management. Shiva Rajgopal is the Kester and Byrnes Professor at the Columbia Business School. Robert Stoumbos is an instructor in business at the Columbia Business School.


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Tuesday, 5 December 2017

Trading on equity

 Trading


Trading on equity occurs when a corporation uses bonds, other debt, and preferred stock to increase its earnings on common stock. For example, a corporation might use long term debt to purchase assets that are expected to earn more than the interest on the debt.


Trading on equity has two primary advantages :

                                                                              Enhanced earnings. It may allow an entity to earn a disproportionate amount on its assets.

Benefits of equity share investment are dividend entitlement, capital gains, limited liability, control, claim over income and assets, right shares, bonus shares, liquidity etc. Disadvantages are dividend uncertainty, high risk, fluctuation in market price, limited control, residual claim etc.

Equity share is looked at from different perspectives by different stakeholders. Broadly, there are two major angles of looking at it – Company and Investor Angle. So, any statement about equity capital would have a different meaning for a company and an investor. We will look at the investor angle of equity share investment

 



DIVIDEND



An investor is entitled to receive a dividend from the company. It is one of the two main sources of return on his investment.



CAPITAL GAIN



The other source of return on investment apart from dividend is the capital gains. Gains which arise due to rise in market price of the share.



Benefits and Disadvantages of Equity Shares Investment

Benefits and Disadvantages of Equity Shares Investment

LIMITED LIABILITY



Liability of shareholder or investor is limited to the extent of the investment made. If the company goes into losses, the share of loss over and above the capital investment would not be borne by the investor.



EXERCISE CONTROL



By investing in the company, the shareholder gets ownership in the company and thereby he can exercise control. In official terms, he gets voting rights in the company.



CLAIM OVER ASSETS AND INCOME



An investor of equity share is the owner of the company and so is the owner of the assets of that company. He enjoys a share of the incomes of the company. He will receive some part of that income in cash in the form of dividend and remaining capital is reinvested in the company.



RIGHTS SHARES



Whenever companies require further capital for expansion etc, they tend to issue ‘rights shares’. By issuing such shares, ownership and control of existing shareholders are preserved and the investor receives investment priority over other general investors.







BONUS SHARES



At times, companies decide to issue bonus shares to its shareholders. It is also a type of dividend. Bonus shares are free shares given to existing shareholders and many times they are given in lieu of dividends.



LIQUIDITY



The shares of the company which is listed on stock exchanges have the benefit of any time liquidity. The shares can very easily transfer ownership.



STOCK SPLIT



Stock split means splitting a share into parts. How should an investor be benefited by this? By splitting of share, the per-share price reduces in the market which eventually increases the readability of share. At the end, stock split results in higher volumes with a number of investors leading to high liquidity of the share.




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Wednesday, 29 November 2017

Gold Prices Gain Slightly In Asia After NKorea Missile Test


Gold prices failed to get a significant boost in Asia on Wednesday after the latest
ballistic missile test by North Korea.
Overnight, gold prices pared gains on Tuesday as reports suggesting that North Korea
fired a ballistic missile failed to raise safe haven demand.
North Korea fired a ballistic missile from an area near Pyongyang early on Wednesday,
South Korea’s military said, while the Japanese government said it landed in the
country’s exclusive economic zone.
The Pentagon says initial the assessment of of the North Korea launch was an ICBM
and Japan PM Shinzo Abe ordered an emergency meeting of cabinet ministers over the
missile launch.
Also supporting gold prices were comments from Federal Reserve chair designate
Jerome Powell, who testified before Congress on Tuesday.
Powell’s comments did little to change the widely held view that the incoming Fed chair
will adopt a similar stance to outgoing Fed Chair Janet Yellen on monetary policy.
Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-
yielding assets such as bullion.




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Thursday, 23 November 2017

top 3 stocks could give up to 16% return in 6 months


The Nifty regained momentum in the preceding five sessions, after last week’s
decline, led by broad-based buying and supportive global cues.
We continue to maintain our positive stance and expect the index to head towards a
target of 10,600 levels in the coming weeks as it is the measuring implication of the
Bullish Double Bottom pattern formed during the August – September period.
The Nifty50 held on to its key support of 10,100 levels during the recent decline from
10,490, as it is the confluence of following:
- The bullish gap area leading to the breakout from three-month range is placed
around 10,123-10,096 region
- 50 percent retracements of current up move (9,687-10,490) are placed at 10,094
levels
- Equality of preceding decline (10,178-9,687=491 points) as calculated from life high
of 10,490 is placed around 10000 levels
We believe current round of profit booking will make the market healthier by working
off short-term overbought conditions.
Structurally, the rally from September 2017 lows (9,687 to 10,451 = 764 points) is
larger in magnitude compared to the preceding rally of July-August 2017, measuring
689 points.

The rally getting bigger highlights inherent strength in the trend amid persistent
demand at elevated levels and augurs well for the continuance of the up move going
forward.
Here is a list of top three stocks which could give up to 16% return in the next 6
months:
Tata Chemical: BUY| CMP Rs736| Target Rs805| Stop Loss Rs695| Return 9%|
Time Frame 1 month
Tata Chemical has resumed its up move after consolidation above the recent trend line
breakout area signalling a change of polarity as previous trend line resistance reverse
its role and acting as support.
The stock after three weeks of profit booking, which has been characterized by
shallow correction has broken above prior week’s high indicating resumption of up
move and offers fresh entry opportunity.
The lower band of recent consolidation was placed at Rs702 levels is likely to act as
support in the short term. Weekly 14-period’s RSI is in a strong uptrend forming
higher high and higher low and is seen rebounding taking support at its nine period’s
average thus supports the continuation of the uptrend in the short term
Based on the above technical observation we expect the stock to head towards Rs805
levels over the coming month being the 161.8% external retracement of recent decline
(Rs765-702) placed at Rs805 levels
MOIL: BUY| CMP Rs252| Target Rs282| Stop Loss Rs232| Return 12%| Time
Frame 1 months

MOIL Ltd has witnessed a strong breakout rally during October 2017 rallying from
Rs190 to 52 weeks high of Rs285. In the process, the stock has registered a resolute
breakout above the rebounding pattern containing the entire price activity since
January 2017 to October 2017.
Post the breakout rally the stock has entered a shallow correction in the last three
weeks to work off the overbought condition developed during the previous rally
The stock has recently resumed its up move after consolidating near the 38.2%
retracement of the previous rally placed around Rs242 levels, which is likely to act as
major support for the stock in short-term.
Among oscillators, the weekly MACD (E-12/26/9) which measures the underlying
strength in the trend had entered into rising trajectory since August 2017 and is
currently diverging from its 9-period average highlighting strong bullish momentum
and indicates strength in the price structure
Based on aforementioned technical observations, we believe the consolidation phase
over the last three weeks has approached maturity, thus offering fresh entry
opportunity. We expect the stock to resolve higher and test its recent high of Rs285 in
coming weeks
Oberoi Realty: BUY| CMP Rs509| Target Rs590| Stop Loss Rs465| Return 16%|
Time Frame 6 months
The stock remains in a well-established uptrend and continues to inch northwards in a
rising peaks and troughs manner on medium time frame charts.
Structurally, the rallies are becoming bigger and swifter underlying the robustness in
the price structure along with strong momentum. At the same time, corrections are

short-lived and shallow in nature which is the sign of the consistent appetite for the
stock at elevated levels.
In the current week, the share price has resumed its uptrend following the two-week
breather, as it breaks out of Bullish Flag continuation pattern. Breakout from bullish
flag pattern offers a fresh entry opportunity to ride prevalent uptrend in the stock.
Based on aforementioned technical observations, we believe the stock price is
expected to continue its current upward trend. We have projected a medium-term
target of Rs590 based on the measuring implication of the bullish Flag pattern
breakout.
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Wednesday, 22 November 2017

boosts already growing confidence in Indian debt


 
Driven by more attractive rates and relatively strong economic
fundamentals among emerging markets, offshore dollar borrowing
by Indian companies has already risen 32 percent from the start of
2017 to $8.81 billion, according to Reuters data.
The rating agency’s decision on Friday to raise India’s credit
assessment for the first time in nearly 14 years to a notch higher
than its rivals was perfect timing for billionaire Mukesh Ambani’s
Reliance Industries, which announced plans to raise $800 million
offshore just days before.
The upgrade to Baa2 from Baa3 lifted Indian stocks, bonds and currency and helped Reliance price its notes at 130 basis points (bps) over U.S. Treasuries on Tuesday, the tightest ever spread for
an Indian issue.
Other companies are assessing if the narrowing in Indian bonds
yields over U.S. Treasuries will last with a view to raising fresh
funds, say bankers and corporate finance heads.
Markets have received the upgrade well, said Jujhar Singh,
managing director and head of capital markets, South Asia at
Standard Chartered Bank.
 
“This should give further confidence to Indian corporates to raise
dollar funds through the international bond markets at the tightest
ever spread in the last 10 years,” he said.
Foreign investment in India’s domestic corporate debt has reached
its ceiling under central bank-mandated limits, forcing those
investors who want exposure to India to buy offshore. This had
helped tighten spreads even before the upgrade.
State Bank of India 2024 bonds have come in to 120 bps over U.S.
Treasuries from 126 bps over just before the Moody’s upgrade and
147 bps over in early 2017.
Seshagiri Rao, joint managing director of India’s JSW Group, a
steel-to- energy company, said the ratings upgrade could help JSW
potentially save over $1 million annually on its borrowings.
Mahindra Group, which operates multiple businesses from autos to
information technology, might tap offshore markets too, said
finance head V.S. Parthasarathy, adding “a small one step upgrade
by Moody’s is a big step up for India’s confidence.”
ATTRACTIVE PRICING
Companies, including quasi-sovereign issuers that had already
begun work on raising funds offshore, such as Indian Railways
Finance Corp and Power Finance Corp, are now speeding up the
process, bankers said.
State-controlled Hindustan Petroleum, might explore raising funds
offshore next year, Chairman M.K. Surana said.
“Some institutional investors who are required to invest in
investment-grade bonds might not have been willing to buy India
dollar bonds in the past as the Baa3 credit rating did not give them
 
psychological comfort margin in case of a downgrade,” said Ken
Hu, a senior investment officer at Invesco.
The prior Baa3 rating was the lowest investment-grade level.
Lower-rated issuers could also benefit with some bankers
estimating their borrowing costs could fall as much as 15 basis
points in offshore dollar markets.
Still, Moody’s upgrade may not be enough to please all debt
investors.
“India’s a good credit to have on the books for foreign investors,”
said a senior investment banker, who declined to be named as he is
not authorised to speak to media. “However, much bigger traction
among investors will happen only if at least one more rating agency
upgrades India.”
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Tuesday, 21 November 2017

Wipro's Rs 11,000-crore share buyback to begin from November 29


In addition to placing the bid through stock broker, the stock broker of the eligible
shareholder holding equity shares in physical form can submit their signed tender
form and other documents by December 15, the document said.
IT company Wipro on Monday said it will open Rs 11,000-crore share buyback
scheme on November 29 for Rs 320 a unit, at 8.6 percent premium over current price.
The company has announced to buyback over 34.37 crore fully paid-up equity shares
of face value Rs 2 each of the firm, representing up to 7.06 per cent of the total paid-
up equity share capital, from all the fully paid-up equity shareholders/ beneficial
owners of the shares as on the record date of September 15, 2017, on a proportionate
basis, it said in a regulatory filing.
Wipro will process the buyback through a tender offer route, at a price of Rs 320 per
equity share for an aggregate amount of up to Rs 11,000 crore, as per the
announcement.
"The eligible shareholder can tender equity shares in the buyback only during the
tendering period which is from Wednesday, November 29, 2017 to Wednesday,
December 13, 2017," the company said in the offer document.
Share buybacks improve earnings per share and return surplus cash to shareholders,
while also supporting share price during periods of sluggish market conditions.

Eligible shareholders holding and tendering equity shares held in their demat form are
not required to submit the tender form to the registrar of the scheme, Karvy
Computershare.
The buyback is being managed by JM Financial Institutional Securities.
As on September 30, 2017, Wipro had consolidated cash and cash equivalents of Rs
5,141.2 crore on its books and investments of Rs 33,305.6 crore, totalling Rs 38,446.8
crore.
Among Indian IT companies, TCS has already completed a Rs 16,000 crore buyback
programme earlier this year.
The country's second largest IT firm Infosys will open share buyback worth Rs
13,000-crore on November 30 and end on December 14.
Shares of Wipro closed at Rs 294.6 a unit, down by 0.05 per cent compared to
previous close, at BSE today.
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