Saturday, July 31, 2010
Weekly Market Outlook - 1st week of August 2010- Disclaimer Post Applies
Markets Today - 30/07/2010 - Disclaimer Post Applies
Friday, July 30, 2010
China Overtakes Japan as No.2 Economy
The economy expanded 11.1 percent in the first half of 2010, compared with a year earlier, and is likely to log growth of more than 9 percent for the whole year, according to Yi Gang, head of the State Administration of Foreign Exchange.
China's growth rate, which has averaged more than 9.5 percent a year over the past 30 years, was bound to slow over time. If China could chalk up growth this decade of 7-8 percent annually, that would still be a strong performance. The issue was whether fast growth can be sustained. If China expands by 5-6 percent a year in the 2020s, it will have maintained rapid growth for 50 years, which Yi said would be unprecedented in human history.
Yi's remarks carried an echo of a report by the International Monetary Fund on Thursday, which said the Chinese authorities viewed the Yuan right now as closer than ever to equilibrium.
"At present, there is no basis for big fluctuations in the Yuan. We have the conditions to keep a flexible exchange rate mechanism and we can keep the Yuan basically stable at a reasonable and balanced level." Comments are unlikely to go down well in Washington, where lawmakers have scheduled a hearing for Sept. 16 to consider whether U.S. government action is needed to address China's exchange rate policy.
China scrapped the Yuan's 23-month-old peg to the dollar on June 19 and resumed a managed float. The Yuan has since risen only 0.8 percent against the dollar, and economists calculate that it has fallen in value against a basket of currencies.
Source: www.economictimes.com
Thursday, July 29, 2010
Markets Today - 29/07/2010 - Disclaimer Post Applies
Markets Today - 28/07/2010 - Disclaimer Post Applies
Wednesday, July 28, 2010
Bajaj Corp Limited IPO. - Nicely Priced
Issue Period: August 2 – August 5, 2010
For QIB: August 2 – August 4, 2010
For Retail : August,5, 2010
Face Value: Rs.5/-
Price Band: Rs. 630/- – Rs. 660/-
Lot Size: 10 Equity Shares and Multiples of 10 Equity Shares thereafter
Registrar: Karvy Computershare P. Ltd.
Issue: 45,00,000 Equity Shares
QIB Book: 27,00,000 Equity Shares (60% of Net issue size)
HNI Book: 4,50,000 Equity Shares (10% of Net issue size)
Retail Book: 13,50,000 Equity Shares (30% of Net issue size)
Markets Today - 27/07/2010 - Disclaimer Post Applies
Tuesday, July 27, 2010
Market Rollover - July Series - 27/07/2010
Market Snapshot for July Series – Gained of ~98 points in July series Nifty July series had been volatile for first half of series but then it turn to trade in narrow range of 5,300 to 5,450 for last 2 weeks. Currently, Nifty has gained 98 point or 1.8% for July series as compared to June series. We expect Nifty July series to settle between 5,350 and 5,450 on back of concentration and activity in options side. This would be consecutive second series it will close on a positive note. Rollover– Positive Rollover cost of ~11bps in June series Nifty rollover was weak as compared to market wide rollover by ~342bps to 28.5% and average positive rollover of ~11bps. The rollover was higher by ~200bps as compared to average of last 6 months but total open interest stood at 361.9 lakh shares. Lower rollover and open interest indicates traders are skeptical of positive momentum to continue for the August series which would invite some correction in August series. Review of Nifty Strategy On June 26, 2010, we had recommended a Short Strangle strategy on Nifty, by selling July 5,400 Call and 4,600 Put options, giving a total premium inflow of Rs 95.1. Currently, the strategy is trading at net premium of ~Rs Rs 45, representing a profit of Rs 2,500 per lot. We recommend traders to hold the positions for next 3 trading sessions. Sector-wise Rollovers Highest long Roll: Bullish Signal Hotels (41.5%), Banking (38.8%), Finance (37.3%) Highest Short Roll: Bearish Signal Media (37.0%), Transport (30.9%), Oil & Gas (30.2%) Lowest Rollover Power (24.4%), FMCG (20.6%), Fertilizers (14.4%) Stocks Rollovers Highest long Roll: Bullish Signal NTPC (62.7%), BHARTIARTL (55.4%), BHEL (54.8%) Highest Short Roll: Bearish Signal ABB (60.0%), POWERGRID (55.7%), M&M (55.2%) Lowest Rollover ASIANPAINT (10.0%), PATELENG (10.1%), HCLTECH (10.8%) |
Monday, July 26, 2010
Markets Today - 26/07/2010 - Disclaimer Post Applies
Prakash Steelage Limited IPO Details.
Issue Period: August 5 – August 10, 2010.
For QIB: August 5 – August 9, 2010.
Price Band: Rs. 100/- – Rs. 110/-.
Lot Size: 60 Equity Shares and Multiple of 60 thereafter.
Registrar: Bigshare Services Pvt Ltd.
Issue: 62,50,000 Equity Shares of Rs.10/- each, Employee Reservation 1,00,000 after employee reservation 61,50,000 Equity share.
Employees Reservation: 1,00,000 Shares.
QIB Book: 30,75,000 shares (50% of Net issue size)
Retail Book: 21,52,500shares (35% of Net issue size)
HNI Book: 9,22,500 shares (15% of Net issue size).
Thanks,
Minita Aiya. (Client service Associate - DENIP Consultants Pvt. Ltd.)
SKS Micro Finance Limited - IPO Details.
Issue Period: July 28– August 02, 2010.
Price Band: Rs.850 - Rs.985.
Lot Size: 7 Equity Shares in to multiples of 7 Equity Shares.
Retail Discount Rs.50/- per Equity Share on allotment.
Registrar: Karvy Computershare Private Limited.
Equity Shares offered through IPO: 1,67,91,579 Equity Shares.
QIB Book: 1,00,74,948 (60% of issue size).
HNI Book: 16,79,157 (10% of issue size).
Retail Book: 50,37,474 (30% of issue size).
Thanks,
DENIP Consultants Pvt. Ltd.
Saturday, July 24, 2010
Markets Today - 23/07/2010 - Disclaimer Post Applies
Visited K.J.Somaiya College of Commerce & Arts for Recruitment.
In the end we recruited 4 students from the college. Students of K.J.Somaiya College have good potential and I wish them all the best for their future.
Thanks John Sir, Mule Sir, Gaur Sir & Giakwad Sir for your cooperation.
Thanks,
DENIP Consultants Pvt. Ltd.