Technical calls for intra-day
Nifty hourly futures update for 9th Dec 2010
F&O Event Tracker
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Heard on the Street
MFs woo distributors with higher payouts
Small AMCs are competing with their large counterparts to lure distributors to sell their schemes. According to an industry source, small and midsized fund houses, which are striving to build an equity asset base, are promising higher commissions to distributors. ‘Satyam Sivam Sundaram Mutual Fund’ and ‘Priceless Mutual Fund’ are offering commission in excess of 1.5% to select distributors, who are selling their funds and new fund offers. This is in addition to the trail fees paid by the asset managers to distributors.
More mid-cap stocks face selling pressure
Investors dumped shares of companies, where market operator Vimal Rathod is rumoured to be active on Wednesday. The news about Intelligence Bureau suspecting him of rigging stock prices of Ruchi Soya, KS Oils, Karuturi Global and IRB Infra triggered the fall. Company shares, named by the intelligence agency, fell 9-27% on Wednesday. Shares of Sujana Towers , Hanung Toys and Neha International also fell to their lowest permissible trading limit on speculation Rathod has been active in these stocks. These stocks, however, were not named by the Intelligence Bureau.
Operators try to boost sentiment after scam
Operators have been trying to boost sentiment in shares of Hindustan Construction Company (HCC) after the company was named in the ‘bribes-for-loan’ scam. Operators have been sending bulk emails and text messages to restart interest in the stock. The email recommends investors to buy the stock, as it is being accumulated by “strong hands”. The operator group expects the stock to touch Rs 400 in a few years’ time. Analysts tracking the company, however, have a different story to tell. “The company is bound tight in legal tangles; we’ll have to wait for the court’s decision on Lavasa, which is expected on December 16. The company’s revenues have not grown over the past two years,” said an analyst tracking the company. Shares of HCC fell 3% to Rs 44.40 on Wednesday.
(Contributed by Nishanth Vasudevan & Shailesh Menon)
Small AMCs are competing with their large counterparts to lure distributors to sell their schemes. According to an industry source, small and midsized fund houses, which are striving to build an equity asset base, are promising higher commissions to distributors. ‘Satyam Sivam Sundaram Mutual Fund’ and ‘Priceless Mutual Fund’ are offering commission in excess of 1.5% to select distributors, who are selling their funds and new fund offers. This is in addition to the trail fees paid by the asset managers to distributors.
More mid-cap stocks face selling pressure
Investors dumped shares of companies, where market operator Vimal Rathod is rumoured to be active on Wednesday. The news about Intelligence Bureau suspecting him of rigging stock prices of Ruchi Soya, KS Oils, Karuturi Global and IRB Infra triggered the fall. Company shares, named by the intelligence agency, fell 9-27% on Wednesday. Shares of Sujana Towers , Hanung Toys and Neha International also fell to their lowest permissible trading limit on speculation Rathod has been active in these stocks. These stocks, however, were not named by the Intelligence Bureau.
Operators try to boost sentiment after scam
Operators have been trying to boost sentiment in shares of Hindustan Construction Company (HCC) after the company was named in the ‘bribes-for-loan’ scam. Operators have been sending bulk emails and text messages to restart interest in the stock. The email recommends investors to buy the stock, as it is being accumulated by “strong hands”. The operator group expects the stock to touch Rs 400 in a few years’ time. Analysts tracking the company, however, have a different story to tell. “The company is bound tight in legal tangles; we’ll have to wait for the court’s decision on Lavasa, which is expected on December 16. The company’s revenues have not grown over the past two years,” said an analyst tracking the company. Shares of HCC fell 3% to Rs 44.40 on Wednesday.
(Contributed by Nishanth Vasudevan & Shailesh Menon)
Src: ET, Myiris, Mktcalls etc
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