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Showing posts from November, 2008

SBI Mergers

State Bank of India, or SBI, is concerned about the bank's asset quality, reports CNBC-TV18, quoting Newswire18. "There is no concentration of risk on the bank's books."   SBI said it is not shying from lending, but wants proper risk assessment. It needs long-term funds to lend to infrastructure.   The bank said it plans to list SBI Life in 18-24 months, and will sell 5-10% of the same. "Shareholder bonus is not an issue, and the bank will do so if permitted."   SBI said it will decide on further mergers and acquisitions once the merger with State Bank of Saurashtra is completed.   The public sector bank said it sees more bad loans from small and medium enterprises.   Meanwhile, Reserve Bank of India or RBI said the banks' safety and health is of utmost importance. Its risk-weight cuts will release 70 bps capital to SBI

Reliance Industries

Reliance Industries had touched an intraday high of Rs 1,188.80 and an intraday low of Rs 1,121. At 1:03 pm, the share was quoting at Rs 1,128, down Rs 16.8, or 1.47%.   It was trading with volumes of 3,581,379 shares. Yesterday the share closed up 1.82% or Rs 20.45 at Rs 1,144.80. Share Price Movement During The Last 12 Months Period Price Latest Price Gain/Loss (Rs.) % Gain/Loss 3-Days 1056.05 1128.00 71.95 6.81 5-Days 1139.95 1128.00 -11.95 -1.05 7-Days 1141.40 1128.00 -13.40 -1.17 15-Days 1303.10 1128.00 -175.10 -13.44 1-Month 1019.50 1128.00 108.50 10.64 3-Month 2232.00 1128.00 -1,104.00 -49.46 6-Month 2515.60 1128.00 -1,387.60 -55.16 9-Month 2551.45 1128.00 -1,423.45 -55.79 1-Year 2884.55 1128.00 -1,756.55 -60.90                  

IDFC expensive

    Comments from Dalal :   IDFC has some more perhaps time and gestation, consolidation which will continue for four-six months. But if one had to take financial services surrogate for India in terms of its representation both in the capital market and in the infrastructure space, IDFC makes a good investment. It's expensive right now because it's still an Rs 10,000 crore marketcap. I would wait for it to correct a little but I was to take a two year investment horizon, I think these are very good levels to start looking at IDFC

Citi's stake in HDFC

Deepak Parekh, Chairman, HDFC, said there is n o change in Citi's holding in HDFC. He spoke to CEO Vikram Pandit recently and learnt that Citi is not selling HDFC shares.     However, five to six investors have approached him, wanting to buy Citi's stake in HDFC, Parekh added.   Yesterday, the US government moved to guarantee USD 300 billion in troubled Citi's assets and announced that it will inject an additional USD 20 billion. Global markets rallied after the US government announced the bailout package.   Citigroup has a 11.74% stake in HDFC, making it the single largest shareholder in the housing finance company.

Bad day for Global Market

It was a bad day but not a disastrous day under the circumstances one would have to say because the way we opened up this morning after that massive fall in the Dow and the S&P – it really could have gone anyway. Like many Asian markets, we could have closed 5-6% lower. But we closed only about 3% lower – say about 250-points odd, just under that 8,500 for the Sensex. The Nifty came off the lows of the day – flirted with 2,500 for quite a bit and then closed the day around that 2,550 mark. There was a little bit of a pullback towards the end but it was still down about 70-80 points on the Nifty.   The volumes were extremely low, so don't know how much you can take away from a day like this – the pullback towards the end or the fact that it did not close with 5-6% kind of cuts but many largecap names like ICICI Bank, even Reliance Industries, many of the telecom stocks out there did not look good.   Technology had another difficult day and of course real estate continues to

Citibank Future : Can Pandit magic will work ??

From Rediff : The only way that Pandit can get Citibank back on track is by biting the bullet. Pandit's five-pronged strategy is already making itself felt, with harsh impact on certain quarters. The Indian-born Citigroup boss plans to cut costs by almost 20 per cent, sacking more than 50,000 employees or 20 per cent of the bank's staff, jettisoning risky assets, selling non-essentials, and raising interest rates for credit card customers. The bank is also going slow on lending, with its global loans portfolio having shrunk by over 15 per cent. The other worry for Citi is that while it grapples to come out of the economic quagmire that it finds itself in, its rivals like JP Morgan and Bank of America are racing ahead at impressive speeds. JP Morgan turned in a net income of $8 billion and its commercial loans portfolio grew by 18 per cent during the period that Citi was absorbing crippling losses. Bank of America had a net income of $6 billion and its loans portfolio rose by

Nov 13th 2008 : market Prediction

Market Prediction : Market seems to be indecisive and shows trend of moving towards green patch with great caution. I would suggest to wait for couple days more before making any long term investment. For Daily Traders I would suggest to Buy Reliance , TCS at current price with Stop loss. These 2 bigges will surely move up 40 to 60 Points before lunch time. Make sure to use Stop Loss.

Tip for Nov 12th 2008

Tip for Nov 12th 2008 None of the tips suggested reached the entry level and thus none of the trade was executed and thus day traders were saved from the agony of loss caused due to steep fall in the market. Buy for Nov 12th 2008 Buy Cairn>151.1,158 sl 147.9 Buy Praj Industries>81.5,86.2,90 sl 77.9 Buy GMR Infra>72.5,75.9,78,82 sl 68.9

Market showed positive signs

Tip for Nov 11th 2008 : Market has really showed positive signs on Nov 10th 2008. This shows good omen are about to start and market will return back to normal mode. Buy for Nov 11th 2008 Buy GMR Infra>79.1,81.8,85 sl 76.9 Buy Bank of India>283.1,284.1,286.9,290 sl 279.7 Buy Bharti shipyard>87.1,88.3,90 sl 84.9

Buy for Nov 6th 2008

Tip for Nov 6th 2008 Buy Patel Engineering>168.5,170,180,183 sl 163 Buy Praj Industries>76.75,81.9,85 sl 74.8 Buy Noida Toll Bridge>21.1,22.1,23.9 sl 19.9 Buy Sobha developer>118.1,123,125.6,130 sl 115.8

Stocks across the world have seen a sharp decline

If you are willing to buy, global stocks are on sale. As one of the worst months in memory for world-wide shares drew to a close, stocks look like a bargain on a number of measures. That means investors expect a lot of bad news to come where company earnings are concerned. But it also could mean that there are few surprises left to shock investors World-wide, stock valuations have fallen to a level roughly equivalent to the one that prevailed during the 1970s, according to Citigroup. As of Thursday, global stocks were trading at roughly 10.3 times their earnings for the previous 12 months, even lower than the average of 11.4 through the 1970s. The selloff has been especially savage in emerging markets. Earlier this week, investors drove down stocks in such markets to valuations that were almost as low as those during the nadir of the Asian crisis in the late 1990s, according to a Merrill Lynch report. "There are a host of things that have sold off to extraordinarily ridiculous lev

Nov 3rd hot tip

Tip for Nov 3rd Sensex 8900 is a key level. Market has to float above 9300 to be able to fight moving above the levels of 10550-10775. Nifty has to move above the level of 2952 for bull journey to commence. Buy Reliance>1381.1,1394,1400,1432,1440,1500 sl 1368.8 Buy BHEL>1302.1,1325,1343 sl 1294.8 Buy Nitco Tiles>40.7,41.8,42.8,43.9 sl 39.8