Collection figures at 4.00 p.m. as on 30th November, 2010

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ABB buys Baldor for $4.2 bn

In a move to expand its base in the US market, Swiss conglomerate ABB on Tuesday said it will acquire electric motor manufacturer Baldor Electric Company for $4.2 billion, including $1.1 billion of net debt.

In a press statement, ABB said it, "will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt."

Under the terms of the agreement, ABB will commence a tender offer to purchase all of US-based company Baldor's shares for $63.50 per share in cash. The transaction represents a 41 per cent premium to Baldor's closing stock price on Nov 29, 2010.

Subject to regulatory approvals, the deal is expected to close in the first quarter of 2011.

The transaction will substantially improve ABB's access to the industrial customer base in North America and would also allow Baldor to take advantage of the Swiss company's global distribution.
Baldor's product range and regional scope are highly complementary to ours and give both companies significant opportunities to deliver greater value to our customers," ABB CEO Joe Hogan said.

Baldor, a leading supplier in the large North American industrial motors industry, offers a broad range of mechanical power transmission products such as mounted bearings, enclosed gearing and couplings - used primarily in process industries - as well as drives and generators.

Baldor employs about 7,000 people. It reported a 30 per cent jump in operating profit to $184 million in first nine months of 2010 from the year-ago period, and a revenue of $1.29 billion in the period under review, a growth of 11 per cent from year-earlier

Source: www.economictimes.indiatimes.com

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MOIL IPO subscribed 28 times on QIB support

MOIL's (formerly Manganese Ore India) initial public offering (IPO) has received overwhelming response from qualified institutional investors (QIBs). The issue, which closes tomorrow, has subscribed 28.33 times so far, as per National Stock Exchange.

Reserved portion of QIBs, which closed today, was subscribed 20.19 times till 2 pm. The issue has received bids for more than 95 crore equity shares as against an issue size of 3.36 crore shares.

MOIL is India’s largest manganese ore producer and has 50% share in domestic manganese production. It is one of the lowest cost producers of manganese ore in the world.

The company aims to raise around Rs 1142.40-1260 crore at a price band of Rs 340-375 a share. The company will not receive any proceeds from the offer and all proceeds shall go to the selling shareholders. Retail investors and MOIL employees will get shares at 5% discount to the final offer price.

Source: www.moneycontrol.com

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US Economic Data releases for the week 29th Nov 2010 to 5th Dec 2010

US Economic Data releases for the week:

Tuesday
Chicago PMI
Consumer Confidence
State Street Investor Confidence Index
Farm Prices

Wednesday
Motor Vehicle Sales
Productivity and Costs
ISM Manufacturing Index
Construction Spending

Thursday
Jobless Claims
Pending Home Sales Index
Fed Balance Sheet
Money Supply

Friday
Employment Situation
Factory Order
ISM Non Manufacturing Index

Source: www.sharetipsinfo.com

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SUBSCRIPTION FIGURE FOR MOIL Limited IPO @ 4.00 PM as on 29th November 2010

MOIL Limited IPO

Category over Subscription
QIB: - 1.46
HNI: - 1.14
RET: - 2.32
EMP: - 0.12
Total: - 1.68 TENTATIVE

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Shipping Corporation Sub syndicate member instructions & IPO details

Shipping Corporation of India IPO Details

Issue Opens : 30th November, 2010
Issue Closes : 2nd December, 2010 (For QIB Bidders)
Issue Closes : 3rd December, 2010 (Retail and Non-institutional investors)
The price-band : Rs.135 to Rs.140.
Market Lot : 50 Equity Shares into multiples of 50 Equity Shares
QIB : 42,133,638 Equity Shares (50%)
Non Institutional : 12,640,091 EquityShares (15%)
Retail : 29,493,547 Equity Shares (35%)
Registrar : Karvy Computershare P. Ltd


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NFO - Capital Protection Oriented Fund - Series 2 (3 Years)

Sundaram Mutual Fund launches Capital Protection Oriented Fund during the month of November, 2010. Details of the launch are given below:

Name of the Fund: Sundaram Capital Protection Oriented Fund - Series 2 (3 Years)

NFO Opens on: 22nd November, 2010
NFO Closes on: 30th November, 2010

The Product has been rated AAA (SO) by CRISIL.

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DENIP Consultants Pvt. Ltd.

IDFC Super Saver Income Fund – Medium Term -Plan A: Dividend Declaration

IDFC Mutual Fund has approved the declaration of dividend under IDFC Super Saver Income Fund – Medium Term - Plan A(Bi-monthly Option).

The quantum of declaration is Rs. 0.0579 per unit (subject to availability of distributable surplus). The record date is November 30, 2010.


Source: www.valueresearchonline.com

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DSPBR MF launches DSPBR FMP 12M - Series 10

DSPBR Mutual Fund has launched DSPBR FMP 12M – Series 10. The scheme will be open for subscription from December 2, 2010 to December 7, 2010. The scheme will mature on the completion of 12 months from the date of allotment.

Source: www.valueresearchonline.com

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LIC, LIC Hsg exposure to tainted realty cos at Rs 388 cr

In connection to the housing loan scam engineered by LIC Housing Finance, the government has said that total realty project loan exposure of both LIC and LIC Housing Fin is Rs 1600 crore, reports CNBC-TV18's Siddharth Zarabi quoting Finance Minstry sources.

Out of the Rs 1720 crore, both LIC and LIC Housing Fin’s exposure to eight realty companies that are currently examined by CBI is only Rs 388 crore, sources said.

Commenting that there is no cause of concern for realty exposure, Fin Min sources add that market reaction is just being overdone and out of proportion.

The Finance Ministry has issued fresh instructions to banks and financial institutions to examine their portfolio.

Below is a verbatim transcript of Siddharth Zarabi's comments on CNBC-TV18
Just a while back I spoke to a very senior Finance Ministry official and we now have for the first time the actual number that we are looking with regard to this project loan scam. I have it on record from the Finance Ministry saying that the total loans granted by LIC as well as LIC Housing Finance to the companies that are linked or named in this entire bribery scandal, master minded by a middle man is just Rs 388 crore.

You would recall that there have been different estimates floating in the market. But this is the first time we are picking up the number of Rs 388 crore and the Finance Ministry is now putting that in context by saying that LIC Housing Finance has a total project loan exposure of 12% of a Rs 44,000 crore book of which their NPA is only 0.08%.

Similarly LIC has a total exposure of Rs 1,332 crore and therefore the Finance Ministry says that there is no question of any systemic risk being attached. Even these loans are sufficiently secured with collateral and therefore there is no risk even for the amount Rs 388 crore that is being linked to this bribery scandal.

The second major thing that has happened today and we would recall yesterday is that the Finance Ministry said that instructions would go out to banks and to financial institutions to ensure and check their books. Today the Finance Minister at around 12:30 made it clear that he had given instructions that there should be no losses to investors.

We now learn that today afternoon instructions have gone to all banks and financial institutions asking them to double check, re-check their entire exposure, check their portfolio, look at the NPA, see if there are any issues and report back to the finance ministry over the weekend. The finance ministry expects that by Monday they will have the exact picture of what is going on.

In summary, for the first time we have a number that has been given to us officially by the finance ministry speaking exclusively to CNBC-TV18 that the total exposure of LIC and LIC Housing Finance to the 8 companies that are mentioned and have been spoken about with regards to this bribery scandal is only Rs 388 crore.

So they say that please do not overdo the market reaction and they clearly say that investors are perhaps getting hurt because the market reaction is being overdone and blown out of proportion. Finally they've said that investigations are on and if anything else emerges it will be shared in due course.

Source: www.moneycontrol.com

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Shipping Corp sets FPO price band at Rs 135-140/share

Shipping Corporation of India (SCI), one of India's largest shipping companies in terms of Indian flagged tonnage, has set a price band at Rs 135-140 a share for its follow-on public offer (FPO) of 8,46,90,730 equity shares, which will open for subscription on Tuesday, November 30, 2010, reports CNBC-TV18.

The issue comprises of a fresh issue of 42,345,365 equity shares by the company and an offer for sale of 42,345,365 equity shares by the President of India, acting through the ministry of shipping, government of India. The issue comprises a net issue to the public of 84,267,276 equity shares and a reservation of up to 423,454 equity shares for subscription by eligible employees.

The share closed at Rs 145.40, down Rs 1.3, or 0.89% on the Bombay Stock Exchange while the price band is set at a 3.7% discount to its current market price. The company aims to raise around Rs 1,100 crore through the FPO.

SCI has approximately 35% share of Indian flagged tonnage as of June 30, 2010, according to the website of Directorate General of Shipping, Government of India (DG Shipping). As of September 30, 2010, it owned a fleet of 74 vessels of 5.11 million dead weight tonnage (DWT).

Its fleet includes dry bulk carriers, very large crude carrier (VLCC) tankers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, phosphoric acid and chemical carriers, LPG and ammonia carriers, and offshore supply vessels.

The issue will close for subscription on December 3. Central and state governments' holding will reduce to 63.75% post issue.

The company will not receive any proceeds from the offer for sale by governments. However, net proceeds from fresh issue will be used for part funding the equity portion for the acquisition of certain vessels by company and general corporate purposes.

SBI Capital Markets Limited, ICICI Securities Limited and IDFC Capital Limited are the book running lead managers to the issue.

Source: www.moneycontrol.com

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Head Dealer
DENIP Consultants Pvt Ltd

Weekly Market Update from 19th Nov 2010 to 26th Nov 2010

Source: www.iseindia.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Markets Today - 26/11/2010 - Disclaimer Post Applies

Nifty December future is trading at a premium with spot. Maximum call writing and concentration witnessed at 6,000 strike indicates this level to act as strong resistance whereas, the downside is limited to 5,600 level on account of major put writing and concentration. However on the upside 5,900 would act as resistance for intermediate term on back of more call concentration than put. The broad range for December expiry is 6,000 and 5,600 on account of concentration.

Option Analysis:

·         Call writing: During the week, major call writing was witnessed at 6,000 CE and 5,900 CE of 26.99 lakh and 23.44 lakh shares. Concentration is witnessed at 6,000 CE of 59.9 lakh shares.    

·         Put Writing: On the other hand, put writing is witnessed in out-of-money puts between 5,800 PE and 5,500 PE where the total OI added is 109 lakh shares with maximum at 5,600 PE. Shedding was seen at 6,000 PE and 6,100 PE of ~1 lakh shares each. Concentration is at 5,600 PE of 69 lakh shares.

Implications: Maximum call writing and concentration witnessed at 6,000 strike indicates this level to act as strong resistance whereas, the downside is limited to 5,600 level on account of major put writing and concentration. However on the upside 5,900 would act as resistance for intermediate term on back of more call concentration than put. The broad range for December expiry is 6,000 and 5,600 on account of concentration.

FIIs and DIIs activity in capital market segment

·         FIIs were net sellers of Rs 628 crore with Gross buyers of Rs 4,332 crore and Gross Sellers of Rs 4,961 crore.

·         DIIs were net buyers of Rs 959 crore with Gross buyers of Rs 2,870 crore and Gross sellers of Rs 1,911 crore.

India VIX (Inverse relationship between Nifty and Indian VIX)

·         Volatility for 26^th November, 2010 close at 22.6 which is 4.4% lower as compared to previous close, after touching an intraday high of 23.84 and low of 20.1

Implications: Indian VIX surged in today’s trading session. We expect it to move upwards and we are Bullish on the same which would have negative impact on Nifty

Sharma to take charge as LIC Housing Fin CEO early next week

LIC chairman TS Vijayan on Friday said that VK Sharma will take over as the CEO of its housing finance arm early next week.

Sharma has been chosen to replace LIC Housing Finance CEO Ramachandran Nair, who was arrested by the CBI on charges of involvement in housing-loan bribery case on Wednesday.

"V K Sharma has been appointed as LIC Housing Finance CEO... he will take charge early next week," Vijayan told reporters here.

Sharma is currently in charge of LIC's South Zone operations.

LIC had convened an urgent board meeting yesterday in the wake of the arrest of Nair and the insurer's secretary (Investment) Naresh K Chopra.

After the board meeting, Vijayan had said that Chandrasekhar, who is the senior most general manager at the LIC Housing Finance, would be the officiating CEO of LIC Housing Finance.

The CBI had on 24 November busted the housing-finance racket and arrested eight top officials from banks and financial firms, on charges of taking bribes to grant corporate loans.

Source: www.economictimes.indiatimes.com

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DENIP Consultants Pvt Ltd

Claris - IPO - Extension of Issue Period and Revision of Price Band

Claris Life Sciences IPO Closing date is extended to December 2, 2010.

The Revised Price Band: Rs. 228- Rs. 235.

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KRC Daily Derivative Research dt. 26th Nov 2010

SECTORAL OPEN INTEREST SNAPSHOT

FMCG
1. MCLEODRUSS added maximum in open interest by 47.4% on back of long build up.
2. TATAGLOBAL and KSOILS added 5.8% and 2.4% respectively.
3. COLPAL, DABUR and HINDUNILVR added 12%, 7.3% and 5.6% respectively in open interest.

FINANACE
1. RECLTD, INDIAINFO and IFCI added 15%, 13.5% and 11.98% in open interest.
2. HDFC shed 5% in open interest.

PHARMA
1. GLAXO and LUPIN added 15.5% and 15% respectively in open interest. AUROPHARMA,
2. FORTIS and SUNPHARMA added 7%, 6.5% and 6.77% respectively in open interest.
3. DIVISLAB and ORCHIDCHEM shed 1.2% and 1.1% respectively.

CEMENT
1. AUMBUJACEM and ULTRACEMCO (profit booking in short positions) shed 12.6% and
10.6% respectively in open interest.

IT
1. INFOSYSTCH, EDUCOMP and MOSERBAER shed in open interest by 13.5%, 11.88% and 10.99%.
2. ROLTA and 3IINFOTECH added 23.5% and 10.95% respectively in open interest.

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Claris Lifesciences Ltd. - Collection Figures at 5.00 p.m. as on 25th November, 2010

Claris Lifesciences Ltd.


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Minita Aiya
Client Service Associate
DENIP Consultants Pvt. Ltd.

Markets Today - 25/11/2010 - Disclaimer Post Applies

Nifty December future is trading at a premium with spot. On account of more put concentration than call at 5,800, we expect Nifty to bounce above this level and thereby act as a support. However the upside is capped at 6,000 on account of concentration. Thus the trend suggests that market would trade in a broad range 6,000 and 5,700 on account of concentration with negative bias.

Option Analysis:

·         Call writing: Major call writing is witnessed at 6,000 CE and 5,900 CE of 10.35 lakh and 8.97 lakh shares. Concentration is witnessed at 6,000 CE of 48 lakh shares.    

·         Put Writing: On the other hand, put writing is witnessed between 5,700 PE and 5,500 PE where the total OI added is 36.4 lakh shares with maximum at 5,500 PE. Maximum shedding is seen at 5,900 PE of 1.3 lakh shares. Concentration is at 5,600 PE of 56 lakh shares.

Implications: On account of more put concentration than call at 5,800, we expect Nifty to bounce above these levels and thereby act as a support. However the upside is capped at 6,000 on account of concentration. Thus the broad range for December expiry is 6,000 and 5,700 on account of concentration.

FIIs and DIIs activity in capital market segment

·         FIIs were net sellers of Rs 1,208 crore with Gross buyers of Rs 6,385 crore and Gross Sellers of Rs 7,593 crore.

·         DIIs were net buyers of Rs 197 crore with Gross buyers of Rs 2,574 crore and Gross sellers of Rs 2,376 crore.

India VIX (Inverse relationship between Nifty and Indian VIX)

·         Volatility for 25^th November, 2010 close at 21.6 which is 12.4% lower as compared to previous close, after touching an intraday high of 24.68 and low of 21.12

Implications: Indian VIX plunged in today’s trading session. We expect it to move upwards and we are Bullish on the same which would have negative impact on Nifty.

Kapil Sibal launches Mobile Number Portability from Haryana

India today ushered in Mobile Number Portability that will allow cellphone users to switch operators without changing numbers, with Telecom Minister Kapil Sibal launching the service in Haryana.

The rest of India would get to use MNP from January 20, next year.

The consumer friendly service was mooted over two years ago and was planned to be implemented by end of 2009.

However, implementation had to be deferred several times owing to reasons ranging from lack of preparedness of operators to delay in appointment of an agency to oversee MNP execution.

Source: www.economictimes.indiatimes.com

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DENIP Consultants Pvt Ltd

Technology Funds Recommendation as on November 23, 2010

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Client Service Associate

DENIP Consultants Pvt. Ltd.

Tax Planning Funds Recommendation as on November 23, 2010

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Client Service Associate

DENIP Consultants Pvt. Ltd.

Pharma Funds Recommendation as on November 23, 2010

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Multi Cap Funds Recommendation as on November 23, 2010

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Large Cap Funds Recommendation as on November 23, 2010

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International Funds Recommendation as on November 23, 2010

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Infrastucture Funds Recommendation as on November 23, 2010

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FMCG Funds Recommendation as on November 23, 2010

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Banking Fund Recommendation as on November 23, 2010

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Check Out Most Happening Jobs by 2015

If you've got an eye for three-dimensional detail, know where money grows or care enough about climate change, you're on track to make it big in some of the most happening sectors.

Chief Sustainability Officers (CSO):

A decade ago, sustainability meant ensuring an organisation’s adherence to environmental, health and safety measures. However, corporations have come a long way as consciousness levels rise. Enterprises are focused on having the least or even zero negative impact on the economy and global and local environments.

Today, there are chief sustainability officers (CSOs), whose role is to provide strategic direction to company policies. These are the poster boys of global and Indian businesses, ensuring that businesses meet the triple bottom line of people, planet and profit.

Globally, companies hire chief sustainability officers as C-level or high-ranking executives, and Indian companies are doing the same. AT&T, DuPont, British Petroleum, Google and Dow Chemicals have all recruited CSOs. As have the Tata Group, Mahindra and Mahindra and Wipro. But since there is a dearth of talent, expats are being hired.

Typically, a CSO needs an environment engineering background, would have worked on community-friendly projects or with voluntary organisations. Salaries for expat CSOs can range between $ 300,000 and $ 450,000. For a domestic CSO, who has held the job of an environment, health and safety officer, the transition to a bigger role might earn him Rs. 70 - 80 lakh, depending on the scale of the organisation.

But in the next five to six years, this might change. Indian institutes are churning out candidates specialising in the subject. TERI University, for instance, offers a business sustainability course, Delhi University, an MA in Environmental Studies, Jawaharlal Nehru University, an MSc in environmental sciences, and Indian School of Mines, a BTech in environmental engineering.

In the next few years, the institutes are expected to be the breeding ground for some of the best CSOs in the country.

Stem Cell Therapist:

The search for a cure for incurable diseases like Alzheimer’s, Diabetes or Thalassemia may end soon. The hottest treatment option being explored and researched worldwide is stem cell therapy, giving birth to a whole new speciality – stem cell therapist.

Essentially, a stem cell has the potential to regenerate tissue over a lifetime and accelerate healing. In India, there are stem cell banks, where cord blood stem cells from new - born babies are preserved for future treatment.

This has opened up opportunities for stem cell biologists and bio-technologists. The Reliance Group, Apollo Hospitals, Fortis, Manipal Group, and Chennai and Gurgaon - based stem cell banks Life Cell and Cryo banks are planning to take the leap into stem cell therapies.

Stem cell technicians in India earn between Rs. 15,000 and Rs. 50,000 a month. At senior levels, salaries are a lot higher, with demand overshooting supply. A mid-to-senior level stem cell therapist can earn between 5 lakh and 20 lakh a month. Stem cell therapy has already become a practice in eye care, and other areas will become mainstream over the next few years.

There is no death of opportunities for training in the field. The National Centre for Cell Science in Pune offers a PhD, while the Nichi-In Centre for Regenerative Medicine, an Indo-Japanese joint venture in Chennai, offers specialised training. The International Institute of Information Technology in Pune offers post-graduate courses in stem cell therapy.

Wealth Managers:

When the economy is on a roll, the stock market is bullish and the billionaires’ list is growing by the day, you need people who can keep track of all the money and help it grow. In 2010 alone, 69 billionaires made it to the Forbes India Rich List. All this is certainly making one job among the most sought-after in the country today: that of the wealth manager.

Wealth management is a service provided by financial institutions to help high net-worth individuals protect and grow their wealth. Not only does a wealth manager help a client build an investment portfolio, he also advises him on how to prepare for present and future financial needs.

In a broader role, the job includes philanthropic counselling, and coordination of governance and routine administration of large business families. From banks and mutual funds to asset management and portfolio management companies, every one requires wealth managers. Indeed, this could be the best time for wealth managers to be around.

Various segments need different kinds of wealth managers and professionals’ pedigree, exposure and age profile would vary. For the top end, for instance, professionals would be from the best institutes, with a global outlook and familiarity with alternative asset classes like art, he adds. But professionals in India still have to learn the hard way. There aren’t too many courses in the field; neither is there an accepted certification. Professionals like MBAs, CFAs and CFPs are involved in the business.

The money, though, is good. Salaries range from 6 lakh at the starting level, and an equivalent amount is earned through commissions. At the higher end, these could go up to Rs. 75 - 80 lakh.

Cloud Computing:

This is the latest technology that will make life easier for people in organisations dealing with huge amounts of data and information. Today institutions, both government and private, invest a great deal in maintaining servers to store that information. However, not all of this data is accessed frequently. This result is under utilisation of available services and unnecessary costs. That is where cloud computing helps.

It uses remote servers to store and maintain data for clients who can access it when they need too. You don’t need software or a server for this; all a consumer requires is an internet connection to start sending emails. The server and email management software is on a ‘cloud drive’ on the internet and is managed by service providers like Yahoo, and Google.

Since cloud services have a huge potential, the demand for professionals will be equally high in the coming years. Moreover, since India does not a have ready talent pool, they might command a premium.

According to a study by global IT consulting firm Zinnov, the global cloud computing market is expected to be over $70 billion by 2015, and India will create job opportunities for about 3 lakh people in the same period.

Salary levels will be equally impressive. An entry-level professional, perhaps with 5 - 6 years of experience, can earn around Rs. 12 - 19 lakh; while a mid-level executive will get around Rs. 20 lakh. People with 10 - 15 years experience can hope to get Rs. 30 lakh or more.

For those who want to upgrade their skills, the options are, however, limited. For their staff, IT companies themselves are providing training and there are some certificate courses offered by Aptech and NIIT, among others. Job seekers and students, who want to enter the exciting world of cloud computing, might have to wait a while before choices for study open up.

Product Design & Simulation Engineering:

A world of opportunity has opened up for people with an artistic nature, knowledge of materials and consumer needs. With consumer goods flying off shelves in a buoyant economy, designing products like automobiles, watches, mobile phones and jewellery promises to be a niche and rewarding career choice. There is also likely to be a great demand for simulation engineering, where projects are designed through life-size futuristic projections.

Companies that will require product designers are mainly in the transportation and FMCG sectors. By 2015, the sector will become more fragmented and specialised, providing a range of opportunities. National Institute of Design, Industrial Design Centers are some of the institutes that provide industrial design training. Salaries range from Rs. 40,000 to 60,000 a month.

Recruiters are keenly watching an allied field: simulation engineering. This involves preplanning infrastructural and engineering projects, making them more user-friendly and testing their strength and durability. Through life-size projections, one can recreate buildings as they stood earlier. The requirements for this profession would be a bachelor's degree in computer science, engineering, mathematics and physics in addition to strong analytical skills. Large IT firms will hire simulation engineers, with pay scales in the region of $90,000 - $100,000 per year.

Carbon Credits Specialist:

As greenhouse gas emissions keep increasing — regardless of whether protocols and talks between nations to curb emissions succeed or fail — the demand for consultants and professionals specialising in carbon credits and its calculation will keep rising. One carbon credit these days is valued between 803 and 927, which a company can earn if it manages to curb or decrease emissions in any way, as part of its functions.

There are about 100 small and big carbon credit consultants in India, including the Big Four — Ernst & Young, PricewaterhouseCoopers, KPMG and Deloitte Touche. Corporates like ONGC, Reliance Industries, JSW Steel, CESC, Essar, Adlabs, RPG and the Tata Group are also creating such positions. According to industry estimates, there are some 1,000 carbon credit experts in India at the moment, and the numbers of jobs in this sector are growing at 30 - 35 %.

A carbon credit specialist is expected to have strategic advisory skills, as well as knowledge on climate change. One needs to detail how will a project with reduce greenhouse gas emissions and thereby help generate carbon credits.

While there are no dedicated educational courses that can help one study to become a carbon credits specialist, an engineering background, along with a business management course in finance, is an ideal combination. Five years of experience can easily snag you a pay packet of Rs. 15 lakh every year.

Besides, if you are a consultant, you can also be eligible for a percentage of the credits that the company earns. Commissions can be anything between 0.5% to 8% of the amount. A carbon credits specialist needs to offer a framework on how to implement and modify existing equipment to reduce emissions.

Earning carbon credits requires extensive documentation, alongside some knowledge about the industry. The person should also be able to outline a carbon strategy, calculate a company's carbon footprint, and conduct energy audits and diagnostics.

Source: http://economictimes.indiatimes.com/quickiearticleshow/6974807.cms

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Minita Aiya
Client Service Associate
DENIP Consultants Pvt. Ltd.

Religare PSU Equity Fund declares Dividend

Religare PSU Equity Fund declares Dividend on 26th November, 2010.

* The above dividend is subject to the availability of distributable surplus and may be lower to the extent of distributable surplus available on the record date.

Puesuant to payment of dividend, the NAV of Dividend Option of the Scheme would fall to the extent of payout and statutory levy, if any.

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Client Service Associate
DENIP Consultants Pvt. Ltd.

R.P.P Infra Projects Limited IPO

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DENIP Consultants Pvt. Ltd.

Housing scam: CBI arrests top officials of PSU banks, financial institutions

The Central Bureau of Investigation (CBI) on Wednesday arrested top officials from some leading PSU banks and public/private financial institutions. The agency alleged a big housing loan scam involving top officials of some financial institutions. It declined to put a figure to the size of the scam. The impact on individual banks will depend upon their total exposure to real estate lending.

Those arrested include Ramchandran Nair, Chief Executive Officer, LIC Housing Finance Ltd. ,Naresh K Chopta, Secretary (Investment), LIC, Mumbai; R.N.Tayal, General Manager, Bank of India, Mumbai; Maninder Singh Johar, Director (Chartered Accountant), Central Bank of India, New Delhi; Venkoba Gujjal, DGM, Punjab National Bank , New Delhi; Rajesh Sharma,Chairman & Managing Director and two other officials of a Mumbai-based private financial services company in a bribery case.

The CBI FIR states that the Central Bank staffer was asking for Rs 37 lakh bribe.

As per reports coming in CBI has named some big corporates in the scam. As per reports coming in at 7.30 p.m., corporates such as Adani, Religare, Suzlon, Pantaloon, DB Realty, BCG Group and J P Hydro are among the names mentioned in the FIR. More clarity is awaited on the names CBI has mentioned in its FIR.

Preliminary reports earlier in the afternoon also named Godrej Realty and Ashapura Minechem. Both these companies have denied any involvement.

CBI conducted raids in five cities and has arrested top officials of leading organizations. As per reports, the arrests included the CEO of LIC Housing Finance and the CMD of Money Matters. Senior officials from PNB, Bank of India and Central Bank of India have also been raided. An official from LIC has also been arrested by the CBI. Money Matters CEO and LIC HF's Nair have been remanded to custody till Nov 29.

The CBI said it had busted a racket in which Money Matters was "allegedly bribing senior officials of public sector banks and financial institutions for facilitating large scale corporate loans." Raids were conducted at Mumbai, Jaipur, Delhi, Chennai and Jalandhar. CBI began investigation on Monday. Money Matters specialises in advising corporate clients on how to borrow money. The CBI has also closed all offices of Money Matters.

Earlier in the day, shares of LIC Housing Finance plunged 18.32 per cent to Rs 1068.55 on the BSE. It touched a low of Rs 1031.10 in trade. Shares of Central Bank of India also tanked on the same issue. The scrip fell 8.02 per cent to Rs 197.90 on the BSE. It touched a low of Rs 191.40 in trade.

Shares of Money Matters Financial Services also faced selling pressure. The scrip tanked 19.99 per cent to intraday low of Rs 531.20 on the BSE on rumours of a raid

Source: www.economictimes.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

PRICEBAND FOR MOIL LTD.

Thank you,
Minita Aiya
Client Service Associate
DENIP Consultants Pvt. Ltd.

MOIL Limited IPO Details with Price Band

MOIL Limited

BRLM: Edelweiss Cap Ltd./ IDBI Cap Mkt Ser Ltd./ JP Morgan India Pvt. Ltd.
Syndicate Member: Edelweiss Sec Ltd.
Issue Period: November 26 – December 01, 2010
Issue Period (For QIB): November 26 – November 30, 2010
Issue Period (For Retail & HNI): November 26 – December 01, 2010
Price Band: Rs. 340 - Rs. 375/-
Lot Size: 17 Equity Shares into multiples of 17 Equity Shares
Retail & Employee Discount: 5% to the offer price adjusted at the time of allotment
Registrar: Karvy Computershare Pvt. Ltd.

Retail Appl Limit: Rs. 2,00,000/-

Issue size: 3,36,00,000 Equity Shares of Face Value Rs.10 each through an offer for sale by the President of India, Acting through the Ministry of Steel, Govt. of India.
Employee Reservation: 6,72,000 Equity Shares
Net Issue: 3,29,28,000 Equity Shares
QIB Book: 1,64,64,000 Equity Shares (50% of Net issue size)
Retail Book: 1,15,24,800 Equity Shares (35% of Net issue size)
HNI Book: 49,39,200 Equity Shares (15% of Net issue size)

Thank you,
Minita Aiya
Client Service Associate
DENIP Consultants Pvt. Ltd.

KRC Derivative Research dt. 24/11/2010

SECTORAL OPEN INTEREST SNAPSHOT

FERTILIZER
1. CHAMBLFERT added 4% in open interest on back of long accumulation.
2. TATACHEM shed 1.2% in open interest.

FMCG
1. HINDUNILVR added 10.7% in open interest. DABUR and MCLEODRUSS added 3.5% and 2.4% respectively.
2. COLPAL shed 8.8% in open interest.

BANKING
1. INDUSINDBK added maximum in open interest by 27% on back of long build up. HDFC and KOTAKBANK added 17.4% and 10.6% respectively.
2. SYNDIBANK, VIJAYABANK and KTKBANK shed 11%, 6.9% and 6.2% respectively in open interest.

POWER & ENG
1. CROMPGREAV shed maximum open interest by 44.9%. POWERGRID and VOLTAS shed 10.6% and 10.57% respectively.
2. TATAPOWER, ADANIPOWER and BEML added 8%, 5.97% and 5.8% respectively.

TEXTILES
1. BRFL and ABIRLANUVO shed in open interest by 6.4% and 2.6% respectively.
2. ALOKTEXT and SKUMARSYNF added 2.98% and 2% respectively in open interest.

Thanks,

Gaurav Agarwal

Head Dealer

DENIP ConsultantsPvt Ltd

Markets Today - 23/11/2010 - Disclaimer Post Applies

Implications: Nifty future is trading at ~6 points premium with spot. On account of put concentration, 5,900 to act as a support on downside whereas call writing and concentration at 6,000 indicates this level to act as a resistance on the upside also Nifty is facing difficulty in sustaining higher levels. Thus, we expect 5,900 to act as a support and below that 5,800 whereas upside is capped at 6,000/6,050 for November expiry. 

Option Analysis:

·         Call writing: In November series, major call concentration is witnessed at 6,200 CE and 6,300 CE of 77 lakh and 77.5 lakh shares and fresh writing at 6,000 CE and 5,900 CE of 14.58 lakh and 18.94 lakh shares resp. In December series, major concentration at 6,000 CE of 36.9 lakh shares.   

·         Put Writing: On the other hand, in November series, put concentration is witnessed at 5,900 PE of 61.2 lakh shares. In December series, maximum writing is witnessed at in-the-money strikes i.e. between 5,900 PE and 5,600 PE; the outstanding open interest added is 28.3 lakh shares.

Implications: On account of put concentration, 5,900 to act as a support on downside whereas call writing and concentration at 6,000 indicates this level to act as a resistance on the upside also Nifty is facing difficulty in sustaining higher levels. Thus, we expect 5,900 to act as a support and below that 5,800 whereas upside is capped at 6,050/6,100 for November expiry

India VIX (Inverse relationship between Nifty and Indian VIX)

·         Volatility for 23^rd November, 2010 close at 23.26 which is 16.7% higher as compared to previous close, after touching an intraday high of 24.95 and low of 19.4.

Implications: Indian VIX traded surged and thereby closed above 20 levels. We expect it to move upwards and we are Bullish on the same which would have negative impact on Nifty.

KRC Research - Rollover Analysis dt. 23/11/2010

ROLLOVER ANALYSIS

Market Snapshot for August Series – Gained ~22 points in November series
November series has been volatile, where Nifty after hitting a 34 month high at 6,336 gave a fall of 472 points i.e. down 7.5% thereby breaking all support levels. During the November series, FII were net buyers in 11 trading sessions out of 16 trading sessions.

We expect 6,000 to act as a support on the downside on account of more of put concentration than call and on the upside 6,100 to act as a stiff resistance on basis of more call concentration than puts. However, on basis on concentration the range for November expiry is 6,200 on the upside and 5,900 on the downside.


Rollover– Positive Rollover cost of ~50bps in November series

Nifty has rolled 32% positions into December series, which higher as compared to D-3 of last expiry (29%). Nifty holds an OI of 586,234 contracts which is 6% (625,731 contracts) lower than D-3 of October expiry. In value terms, Nifty OI is `176 bn, which is lower by 8% (OI of ` 192 bn) than of October expiry. Around 69,557 contracts got rolled whereas the total OI added by 4,877 contracts.

Market wide futures OI is currently ` 681 bn, which is 11% lower than the (OI of ` 769) D-3 of October expiry. Market wide rolls is 31% which is at par compared to D-3 of last expiry (32%).

Sector-wise Rollovers

Highest long Roll: Bullish Signal
SUGAR (39.9%), CEMENT (36%), POWER (36%),

Highest Short Roll: Bearish Signal

Lowest Rollover
PHARMA (24.6%), TELECOM (24%) , MEDIA (21%)

Stocks Rollovers

Highest long Roll: Bullish Signal
GTL (67%), MCLEODRUSS (55.8%), CAIRN (52.4%)

Highest Short Roll: Bearish Signal
SCI (45.5%), RELCAPITAL (40%), HEROHONDA (39%)

Lowest Rollover
CONCOR (4%), BEL (4.4%), ASIANPAINT (4.6%)

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Coal India H1 net profit up 29% at Rs 4020 cr

India's largest coal producing company and state-owned Coal India has announced its results for the period of six months ended on September 2010. It has reported net profit at Rs 4,020.2 crore in H1FY11 as against Rs 3,115 crore in H1FY10, a growth of 29.06%.

Net sales jumped 16.13% to Rs 25,943.4 crore from Rs 22,340.2 crore.

Earning before interest, tax, depreciation and amortisation (EBITDA) margin improved to 27.6% versus 24.2%.

The company had raised more than Rs 15,100 crore through IPO in last month.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Indian Stock Market Outlook

The Korean Crisis - As per the Reuters report, North Korea has alleged that South Korea started firing shells and North Korea only responded to the firing. However South Korea claims that although it was firing shells it was in the west and merely test firing the shells.

The Irish Crisis – With Ireland requesting a bailout from the EU, probe has begun again in Spain & Portugal. With political instability in Ireland, getting a bailout for now seems difficult. However as per the latest Wallstreet journal report, EU has stated that the political crisis in Ireland shouldn't affect negotiations on Irelands bailout.

US Crisis – With the aftermath of the 2008 crisis still at large US, the FED has started probing big banks again to conduct a stress – test. The SEC also raided some of the Hedge funds sending shockwaves across the financial world. With the US housing data expected tonight i.e. 23^rd of November 2010 the bulls of the stock markets could face some beating.

However all said and done, India still remains a good investment bet. If at all a war was to break out in Korea, India would ideally take a neutral stance which would keep the macro economics of the country stable. The 2G Scam that could have triggered massive macro-economic instability seems to have been handled carefully for now by the Congress.

In such a scenario, the stock market fall could turn out to be nothing but a minor correction before the Nifty hits levels of 7000+. We stick to our stance that SIP was the best route of investments post Diwali since historically for the past 10 years or so, every November we witness a downfall which lasts till December which turns out to be nothing but a buying opportunity.

We believe that investors having positions in the F&O space should roll over to the January series and wait for their turn to earn money. Traders can go short even at these levels for the December series.

Hope this provides some soothing to your nerves.

Source: Various News Reports & In house research

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LIC of India : Of Notional Losses and Profits

The real guarantee with LIC is its scale and size that makes it too big to fail.

Last week, there was this news item in a number of newspapers about the Life Insurance Corporation discovering (or admitting to, it wasn't clear which), a Rs 14,000-crore shortfall in three guaranteed return annuity schemes that it runs. This shortfall has come to happen because these schemes were launched with guaranteed returns of around 12% during the 80s and 90s.

Now, the fixed income returns that are realizable in the Indian economy are sharply lower and so there's a gap between what the assets in these schemes should be worth if they are to meet future liabilities and what they are actually worth.

In its defense, LIC has offered two mitigating factors - one, that these losses are notional. And two, the shortfall will be compensated by other plans - there are always some plans which have a surplus and some in deficit. This is encouraging to hear but nonetheless a little problematic.

Firstly, I think the experience of the 2008 economic crisis has made all of us a little skeptical of the actual nationality of notional losses. I often wonder why companies dismiss notional losses in such an off-handed manner while never managing to do the same for notional profits.

After all, if some schemes are always in deficit and in some in surplus, then the surpluses must, correspondingly, be precisely as notional as the losses. Why don't we ever hear a company management say, "Listen, don't pay any attention to all these gains we have on our investments - they are mere notional profits. They are irrelevant." Why this step-motherly treatment for notional losses alone?

In any case, the root cause of this gap doesn't sound notional to me. A gap between the returns that are guaranteed is not only real but more alarmingly is very likely to grow at an exponentially higher rate. Fixed income returns in India are likely to be lower than the 12% the schemes need in the foreseeable future. Quite possibly, the annual gap will be at least three to four per cent on a sustained basis. This means that the shortfall, whatever it is, will grow at a compounding rate. The guaranteed schemes yet have a few decades more to run. A three per cent p.a. gap will compound to 80% in twenty years and to 165% at 5% a year over the same period. It's very likely that the gap will always be a manageable proportion of LIC's total asset base, but it certainly will be a far from trivial amount.

Still, as an LIC customer, you needn't ever worry. If there's an organization in India that really is too big to fail, then that's LIC. No matter how much it mismanages its products or its investments, the Government of India will step up to the plate. Whatever be the shortfall, the taxpayer will fill it. And that's the real guarantee

KRC Derivative Research dt 23/11/2010

SECTORAL OPEN INTEREST SNAPSHOT

BANKING

1. UCOBANK, HDFCBANK, BANKBARODA and PNB added 14.4%, 12%, 9% and 6% in open interest respectively on back of long accumulation.
2. BANKINDIA, AXISBANK and INDUSINDBK shed 7.75%, 5.6% and 5.7% respectively in open interest respectively.

FMCG
1. HINDUNILVR, ITC and COLPAL added 5.6%, 4.6% and 3.3% in open interest respectively.

SUGAR
1. BAJAJHIND, RENUKA and BALRAMCHIN added in open interest by 3%. 2.57% and 1% respectively on back of long positions build up.
2. TRIVENI shed 2% in open interest.

FINANCE
1. IDFC, RECLTD and RELCAPITAL shed 11.56%, 7% and 7% respectively in open interest.
2. LICHSGFIN and HDFC shed 7% and 5.7% respectively in open interest.

POWER & ENG
1. ADANIPOWER, CUMMINSIND and CROMPGREAV shed in open interest by 7.7%, 6.1% and 6% respectively on back of profit booking in long positions.
2. TATAPOWER and PUNJLLOYD shed 12.6% and 9.9% respectively in open interest on account of long build up.

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd