25 December 2009

ET - Year Ender 2009

http://economictimes.indiatimes.com/yearender.cms


Year End Special From Economictimes.indiatimes



The journey of Rakesh Jhunjhunwala

23 Oct 2009, 0800 hrs IST,ET Now

ET Now Exclusive: Who dosen't want to be a millionaire? Find out how Rakesh Jhunjhunwala made his millions. Familyman | Watch Video | Sensex could touch 19K soon



Sensex to test 21K in year's time: Cazenove Capital




For investors, that was easy. Now comes 2010

17 Dec 2009, 1552 hrs IST,REUTERS

Tight 2009 correlations are already breaking down, leaving investors to work a bit harder for their buck. Five facts about rising world equities | Five facts on stock falls



2010 Investment Outlook: Go global


Ratan Tata: Time to shake off traumatic '09

19 Dec 2009, 1245 hrs IST,

Be it the aftermaths of the terror and fire at the iconic Hotel Taj Mahal or the news about burning Nanos and low floor buses, Rs 500 crore going awash in Singur or the teething troubles with JLR and Corus acquisitions – 2009 is a year that Ratan Tata will bid goodbye with a sigh, though berift of relief.


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More @ http://economictimes.indiatimes.com/yearender.cms

24 December 2009

Nifty ends at new 2009 high; commodities, rate sensitives up

Nifty ends at new 2009 high; commodities, rate sensitives up

uying in oil & gas and rate sensitive shares propelled the Nifty to close at new 2009 high of 5,178.40. It was just shy of the 5,200 mark and touched an intraday high of 5,197.90. The benchmark indices continued their upmove for the second consecutive day and closed higher for the day as well as for this week.

Asian markets helped the markets to start the day on a positive note, following Wednesday's 539 points rally on the Sensex. But after first half an hour of trade, indices turned volatile. In the last couple of hours, the markets gained strength again on the back of buying in shares of commodities and rate sensitives related companies.

The 30-share BSE Sensex closed at 17,360.61, up 129.50 points or 0.75% and the 50-share NSE Nifty went up 0.66% or 33.80 points, to settle at 5,178.40. The broader indices gained 3.8% this week.




Positive global cues were quite supportive today. European markets and the US index futures were marginally positive, at the time of closing of Indian equities. Asian markets closed higher; Shanghai rallied 2.6% and outperformed the other global indices. Nikkei rose 1.5%. Hang Seng, Kospi and Taiwan were up 0.8-1.3%. Straits Times was flat.

Index

Closing Value

Chg (%)

AUTO 7,356.81 1.5
METAL 17,333.73 1.42
OIL&GAS 10,418.23 0.9
REALTY 3,854.04 0.8
POWER 3,133.42 0.78
MIDCAP 6,641.14 0.72
FMCG 2,824.39 0.66
CAP GOODs 14,017.08 0.62
SMALLCAP 8,120.71 0.6
BANKEX 9,968.03 0.5
IT 5,175.46 0.33
PHARMA 5,109.94 0.03
The Indian markets will be closed for trade during December 25-28, 2009, on the back of Christmas and Moharam.

Oil & gas were leading sector; ONGC rose 1.62%. Reliance Industries, Cairn India, GAIL and BPCL were up 0.34-0.87%.

Banking and financials also supported the indices; HDFC Bank was up 1.23%. Bank of Baroda, PNB, SBI, HDFC and Axis Bank gained 0.4-0.7%. ICICI Bank rose 0.15%.

Tata Motors was the top gainer today. The CNBC-TV18 learns that India's largest automobile company has decided to settle Singur compensation issue with the vendors. The company will compensate 75-80% of vendors’ Singur loss. “It has asked vendors to take bank loan of 80-85% Singur loss, which would be repaid by the company,” sources inform, adding Tata Motors will repay principal and interest on vendors’ loan. Almost 80% of the vendors have signed the compensation pact with the company and the remaining 20% will sign it in January 2010.

Other news based stocks were ITI and Jet Airways, which gained 11.2% and 2%, respectively. CCEA (Cabinet Committee on Economic Affairs) has approved extending ITI's 30% quota in BSNL, MTNL orders. Government said telecom department was preparing revival package for ITI and ITI would get 70% advance payment for BSNL, MTNL orders. Cabinet panel has also approved Jet Airways plan for USD 400 million QIP.

23 December 2009

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead


At 14:25 hours IST, relentless buying across all the sectors was pushing the Sensex higher and higher. It gained 500 points while the Nifty surged 150 points. Among the sectors, the BSE Metal, Oil & Gas, Power, IT, Realty, Capital Goods and Bank indices were up 2.5-3.3%. TECk, Auto and FMCG indices went up 1.7-2.3%.

Finance Minister's strong statement on GDP growth and positive global cues were supportive to the benchmark indices. Finance Minister Pranab Mukerjee said India could clock as much as 9–10% gross domestic product (GDP) growth in two-three years and FY10 growth could reach 7.75%.

On the global front, European markets were trading 0.7% higher. Asian markets ended with good gains. Shanghai was up 0.76% and Hang Seng up 1.12%. Straits Times, Kospi and Taiwan Weighted gained 0.35-0.6%.




The 50-share NSE Nifty was trading at 5,123, up 134 points and the Sensex gained 457 points at 17,149. These indices hit an intraday high of 5,135.05 and 17,191.85, respectively.

Top gainers - Hindalco shot up 9% and NTPC surged 6%. Sterlite Industries, Reliance Industries and ICICI Bank 3.5-4.5%. Infosys, L&T, M&M, Tata Steel, HDFC Bank, DLF, HDFC, Tata Motors, Jaiprakash Associates and ITC were up 2.5-3.5%.

Top gainers on the BSE Midcap - Emami, Gujarat NRE Coke, Great Offshore, Sunteck Realty and Sobha Developer went up 5-7.8%.

Top losers on the BSE Midcap - Kalpataru Power, Opto Circuits, Bayer Cropscience, Mahindra Holiday and Corporation Bank fell 1-1.6%.

Top gainers on the BSE Smallcap - AP Paper Mills was locked at 20% upper circuit; JSW Holdings, Adhunik Metalik, Action Construction and Jolly Boards gained 10-15%.

Top losers on the BSE Smallcap - Zandu Pharma lost 14.16%. GMR Industries, Aegis Logistics, NESCO and PVP Ventures declined 3.5-5%.


At 13:12 hours IST, the Sensex was strong in trade with gains of more than 400 points and was consistently holding the 17,000 mark. The 50-share NSE Nifty was also holding the 5,100 level. Both the indices were trading above these levels for the first time in the last six sessions. Further upmove in Asian markets and positive comments from Finance Minister about GDP (gross domestic product) growth helped the markets.

India can clock as much as 9–10% gross domestic product (GDP) growth in two-three years, Finance Minister Pranab Mukerjee has said. Speaking at an event, an optimistic Mukherjee said FY10 growth could reach 7.75%. India, which grossed a GDP growth of 7.9% in the third quarter of this fiscal, is one of the fastest growing economies in the world and a negative farm growth thanks to a dry spell this year is also not expected to adversely impact its growth. The GDP growth for the next two quarters was “likely to be bright”, Mukherjee said.




Asian markets were positive; Shanghai and Hang Seng were up 0.8-0.9%. Straits Times, Kospi and Taiwan Weighted gained 0.35-0.6%.

Frontliners like Hindalco, NTPC, Sterlite Industries, Reliance Industries, ICICI Bank and SAIL were top gainers, up 3-6%%. Not a single share was in the red on the Sensex and Nifty.

The 30-share BSE Sensex was trading at 17,108, up 415 points and the Nifty was at 5,110, up 124 points. The broader indices gained 1.2-1.5%, as about 986 shares advanced while 256 shares declined on the BSE.

Zee Entertainment's board approved merger of ETC Networks with company. The company will consider detailed merger scheme on December 29. The stock was up 0.4% and ETC Networks gained 3.5%.

Heavyweight Reliance Industries surged 3.28%. Among other oil & gas stocks, GAIL, Cairn India and ONGC were up 2-3%. IOC, HPCL and BPCL gained 0.8-1.3%.

Infosys rose 3% in the oil & gas space. TCS, Wipro, HCL Tech and Tech Mahindra went up 1-2%.

Banking stocks like ICICI Bank and HDFC Bank moved up 2.5-3%. PNB, SBI, Kotak Mahindra, Axis Bank and Bank of Baroda were up 0.8-1.8%.

In the power pack, NTPC rallied 5.14%. NHPC, Power Grid Corp, Lanco Infratech, Neyveli Lignite, Suzlon Energy, Torrent Power, Siemens, GVK Power, BHEL, Reliance Infrastructure, Reliance Power, Tata Power, GMR Infra and Adani Power gained 1-3.3%.

Hindalco surged 6.37% in the metal space. Sterlite Industries, SAIL, NALCO, Tata Steel, Jindal Saw, Jindal Steel and JSW Steel were up 1.3-3.7%.

Top percentage gainers - Jumbo Bag and AP Paper Mills were locked at 20% upper circuit. Umang Dairies, JSW Holdings, Muthoot Cap, Adhunik Metalik and KSE were up 10-17%.



MOre @

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead

Nifty near day's highs; Hindalco, RIL surge

Essar Oil to become India's third largest oil refining co



Src: Leading websites

22 December 2009

RIL discovers third gas reserve in KG basin

RIL discovers third gas reserve in KG basin

NEW DELHI: Reliance Industries on Tuesday said it has made a third successive gas discovery in the D3 deep-sea block in the Krishna-Godavari
basin, off the east coast. (
Watch )

Reliance found three gas reservoirs in the KGV-D3-R1 well drilled on the block KG-DWN-2003/1 (or D3), a company statement said here.

The block, located about 45 kilometres off the coast in the Bay of Bengal, is in the vicinity of its prolific D6 block where three of the 19 oil and gas finds have already been put on production.

"This discovery (in D3) supplements RIL's understanding, of the petroleum systems within the block," it said.

Reliance holds 90 per cent interest in the block that it won in the fifth round of auction under the New Exploration Licensing Policy. Hardy Exploration and Production India Inc, a unit of Hardy Oil of UK, has the remaining 10 per cent.

"Three reservoir zones were encountered at Miocene level having gross thickness of 4, 23 and 16 meters," the statement said adding the discovery has been named Dhirubhai-44.

The first two exploratory wells (KGV-D3-A1 and KGV-D3-B1) resulted in gas discoveries (Dhirubhai 39 and 41) and are presently under appraisal.

"Besides the above discoveries, several prospects have been mapped at different stratigraphic levels," the statement added.

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Nifty lacklustre; SAIL, Tata Steel, IDFC up

Nifty can reach 5650 if it breaches 5150: Daryl Guppy

2009: Good for investors, tough on Mutual Funds




Src: Moneycontrol, ET

Heard on the street

Heard on the street

Market on a lean holiday diet in

2011

STOCK exchanges have been spared some more unpopularity, thanks to several public holidays falling on weekends. There is a move afoot to cut down the number of trading holidays, as the wise men feel that the Indian market has one too many, compared to international markets. The reason to cut down on the number of holidays is based on the premise that investors here will not have a chance to react to major global events if the Indian market is closed.

This is, of course, assuming that no major global developments will unfold on January 26, August 15, or on the day of Bhau Bheej, or any of the other holidays that do not happen to be global ones.

“This year a large proportion of the holidays is falling on a Saturday/Sunday. We have only 11-12 holidays falling during the week. This year is taken care of. 2011 is when a shorter list — 8 to 10 days — will come into effect by which time the equity market will also have moved to a 9-5 pm cycle,” said a senior broker, who was present at the meeting NSE had with six top retail broking firms.

Garware Offshore sets sails for the north

SHARES of Garware Offshore have risen around 12% in the past one month. Buzz is that increasing demand for offshore support vessels is driving interest in the stock. Speculation is that some financial and strategic investors are planning to pick up a stake in the company through secondary market transactions, though talks are said to be at a preliminary stage. In anticipation of this, “friendly circles” are said to be accumulating the stock.

Rel Equity, Daiwa lose top honchos to Macquarie

MACQUARIE Securities is looking to beef up its equities team in India. Amongst its new hires are Sudhanshu Bhuwalka who joins as associate director, equity sales, from Reliance Equities, where he was co-head of equity sales. Neil Nathwani has joined Macquarie’s equity sales team from Daiwa in London where he was the India specialist for Europe. Suresh Ganapathy is joining to head Macquarie’s financials research team for India. He joins from Deutsche Bank’s cash equities business in India.

Orient Green Power to raise Rs 600-cr via IPO

GREEN is the new black. With green or clean energy gaining momentum across the globe, market observers expect companies operating in the renewable energy space to take the IPO route. Orient Green Power, a subsidiary of Shriram EPC is one such candidate. It has appointed Goldman Sachs, UBS and JM Financial as bankers for its Rs 500-600 crore IPO.

Contributed by Deeptha Rajkumar, Reena Zachariah & Apurv Gupta


Src: ET
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Balmer Lawrie & Company: Bargain hunt begins! Rathin Shah

India equity strategy: 2010 NextGen India Investments

14th Annual Wealth Creation Study 2004-2009 Motilal Oswal

Two attractive mid cap picks Sanjay Chhabria

Picks for an aggressive stock portfolio

Picks for a conservative stock portfolio


Src: Valuenotes

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Stocks trader's favoured the most in 2009: An analysis

Stocks trader's favoured the most in 2009: An analysis

Some stocks have had a great run in 2009. They have attracted traders and investors for the year round. CNBC-TV18’s Varinder Bansal reports,

These stocks are only punters delight – the way they have moved for the entire year with gains of anywhere between 2,000%. The marketcap of these stocks are well above most of the stocks we talk on the channel.

Kwality Dairy: Biggest winner of 2009?

Kwality Diary, a company with a market cap of Rs 2,000 crore, has gained nearly 2,000% in 2009. Looking at the one-year chart, the stock was at a price of Rs 5.5. It went to as high as Rs 1,360 and then there was a stock spilt from 10 to 1 and now the stock is trading around Rs 100.

On the financials front, FY09 the profit after tax (PAT) of this company was around Rs 10 crore and FY08 the PAT was nearly Rs 4.5 crore. So the company with market cap of Rs 2,000 crore is having a PAT of nearly Rs 10 crore.

The promoter holding in this company is interesting with four promoters and 32 individuals together hold nearly 93.5% stake in the security. The free float in the company is very less and that is why most of the stocks tend to react because of cornered shares in the public. Also, the existing promoters of this company bought this company in 2003 at the price of only Rs 3 crore and now see the way the stock has moved up. The company is only engaged in the diary business.

Gee Kay Finance and Leasing Co: Another trader’s delight?

This company has a market cap of nearly Rs 4,000 crore, which is even higher than IndusInd bank or Dena Bank or most of the PSU banks. The stock has gained nearly 1,800% and again in this case we have seen there was a stock split in the month of December and the stock started with a price of nearly Rs 4 and went to as high as Rs 560 and now after the stock split is trading at around Rs 80.

The volumes have been good in this stock. In the last 4 years for this company there is no profit for this company. The PAT of 2009 there was a loss of Rs 29 lakh and 2008 it was a loss of nearly Rs 4 lakh.

Promoter holding will be very interesting because the promoter holding in this company is only 0.5% and there are 26 individuals who hold nearly 90.86% equity in this company. So again you have distorted equity, which is spread only in 26-27 people and the rest 7-8% is with the public.

These are the few cases where you have seen huge gains but this is all punters delight, no fundamentals which are attached to both the shares.

Other outperformers of 2009:

Company Dec 31, '08 2009 Chg
Auro Pharma

Rs 168

429%

Mcleod Russel

Rs 49

427%

JSW Holdings

Rs 301

427%

Hexaware Tech

Rs 21

348%

Orbit Corp

Rs 62

339%

Uttam Galva

Rs 27

334%

Polaris Software

Rs 43

326%

HOEC

Rs 66

312%

Havells India

Rs 122

309%

Jindal Saw

Rs 44

307%

Deccan Chron

Rs 44

247%















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Thirteen year-end lists you have to read


This is a list of lists. Dedicated to all obsessive list makers and readers
1.
Time Magazine — Person of the Year:
The tradition of selecting a Man of the Year began in 1927, with Time’s editors contemplating newsworthy stories possible during a slow week. It was also an attempt to remedy the editorial embarrassment earlier that year for not having aviator Charles Lindbergh on its cover following his historic trans-Atlantic flight. While the designation is usually regarded as an honour, previous awardees include Hitler and Stalin. This year, the list of candidates is fairly controversial, and includes Iranian protestors and Somali pirates.

Click for more

2. Vanity Fair — Year in Pictures:
Vanity Fair images are often as important as the story — sometimes the images are the story. This list is a summation of the most iconic images to appear in the magazine in 2009. Past pictorials include the controversial, such as David LaChapelle’s with actor Mike Meyers dressed as a Hindu deity, and the heart-wrenching, like James Nachtwey’s images of Vietnamese children disfigured by Agent Orange.

Click for More

3. BBC — Sound of 2010:
The list is designed to find the best up-and-coming musical acts for the coming year. More than 130 of UK’s leading music critics and broadcasters name their favourite new acts and finally a long-list of 15 is prepared .

Click for More

4. GUARDIAN — Books of the year:
The Guardian’s guide to the Best Books of 2009 isn’t your usual, monotonous roundup of the best pickings. The British daily has asked leading figures in the arts to pick their books of the year, from novelist Nick Hornby, to fashion favourite Vivienne Westwood and even film director Sam Mendes. Definitely check out this list and enjoy choosing from a host of opinions. The only blot on file would be politician David Cameron’s choice of political diaries…can you say predictable?

Click for More

5. New York Times — Annual Year in Ideas:
This series from The New York Times Magazine is a digest of ideas that helped make each year, for better or worse, what it was. The ideas are not necessarily good ideas or even the most popular. They’re only alphabetically ordered. But they are ingenious, inspired, perplexing and some even outright illegal — a fresh selection of intellectual sushi. Enjoy.

Click for More

6. Amazon — Best of 2009 Books:
Amazon, the pioneering online bookseller, has two main lists out: The top 100 picks by their editors, and what sold most. The editors’ top pick is called Let the Great World Spin. Readers chose Dan Brown’s The Lost Symbol. There are also sub-lists by genre, so you can just go check out what interests you.

Click for More

7. Roger Ebert’s Movie Yearbook 2009:
Roger Ebert is an American film critic and screenwriter. He is known for his film review column (appearing in the Chicago Sun-Times since 1967, and later online) and his reviews are syndicated to more than 200 newspapers in the US and worldwide. In 1975, Ebert became the first film critic to win a Pulitzer Prize for Criticism. We recommend a copy of his annual movie yearbook which is predominately a collection of his reviews of that year. The heavy use of mocking sarcasm, dry wit and shocking candour makes it one of the most irresistible ways to lay 2009 to rest!

Click for More

8. Esquire — 30 Women We’ve Loved in 2009:
This one’s for the boys. Esquire, the original men’s magazine, was founded in the United States in 1932 as a reaction to the tyranny of women’s magazines during that time. And from its very first issue, there has always been an appreciation of women. The list is a recap beyond the Sexiest Woman Alive, and is accompanied by great photos of the great women of today. This year’s fab 30 include Candice Swaponoel, the new face of Victoria’s Secret, Italian beauties, an SNL favourite and a carpenter with an inventive use for walnuts!

Click for More

9. The Economist — The World In 2010:
The World in 2010 is the 24th edition of The Economist’s annual collection of predictions for the year ahead — with views from journalists, politicians and business people. The edition will be sold in 90 countries and translated into around 20 languages. So what are some of the forecasts for 2010? The World in 2010 predicts regime change for the UK, with a clear Conservative majority. Gordon Brown, are you listening?

Click for More

10. Time Magazine — Top Ten Everything of 2010:
The Mother of all year-end lists! Time magazine’s amalgamation of all the Top Ten’s of 2009, from the year’s best (or rather, worst) political gaffes, fashion faux paus, iPhone Apps, and even medical breakthroughs. Chart the highs and lows of 2009 from these 50 wide ranging lists.

Click for More

11. Foreign Policy’s Top 100 Global Thinkers:
From this year’s Nobel Peace Prize winner, to the brains behind Iran’s Green Revolution, Climate Change’s messiah Dr. Rajendra Pachauri and Nouriel Roubini, the economic Cassandra who actually did have a crystal ball — they had the big ideas that shaped our world in 2009. Read the list to see the 100 minds that mattered most in the year that was.

Click for More

12. Lonely Planet’s Best in Travel 2010:
Considering where to go in the coming year? Lonely Planet’s guidebook presents the top 10 countries, regions, and cities to visit in 2010, chosen by Lonely Planet’s global team. Expect old favourites, like New Zealand, chosen because of its spectacular landscapes, proud Maori culture and fine food and drink. Also mentioned are the obscure, like Fernando de which had only 9,000 foreign visitors last year.

Click for More

13. Time Magazine — 50 Best Web sites of 2009:
Clear out your bookmarks. You’re going to need the space for Time magazine’s roundup of 2009’s 50 offerings that are indispensable to navigating, shopping or just killing time on the Web. It’s a tough choice between Flickr, Twitter and YouTube.

Click for More

(Compiled by: Shloka Nath, Charles Assisi, Saumya Roy, S. Srinivasan)

By: Shloka Nath/Forbes India

More from Forbes India


Src: moneycontrol.com


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Stock Reports:


HCL Technologies, Kewal Kiran Clothing


Maruti Suzuki


Nava Bharat Ventures


SKF India, CMC India, Kalpataru Power


Weekly Technicals - Dec 21 2009


Weekly - Dec 21 2009

Src: DP Blog

19 December 2009

20% correction in global mkts likely: Mark Mobius

20% correction in global mkts likely: Mark Mobius


Executive Chairman of Templeton Asset Management, Mark Mobius expects a 20% correction in global markets. “That’s the kind of correction that we would expect in the bullish environment we've had for almost one year now. So, 20% should not be surprising. I was thinking this to be a buy situation resulting in a global 20% correction but it hasn't happened yet. However, I think we may see that. Of course on an individual market level it can happen. China has already corrected by that much. So that could certainly happen.”

China and India story

Bullish on China and India, Mobius said, “From a longer term perspective we are still quite bullish on both China and India. The growth rates are very high, inflation is low, money supply as you know globally still very high.”



‘In the middle of valuation range’

He feels the markets are in the middle of a valuation range. “At a low point in the last ten years it was one time's book. At the high point, it was three times of the book value and now it's about two times. So we are more or less in the middle of the valuation range. But as I said with the high money supply that we see, low interest rates cause derivatives alive and well. This trend is definitely with us and we think it will continue into 2010.”

On Commodities

Expecting commodity prices to move higher, Mobius said, he sees a lot of opportunity in the consumer space. “There are two sectors that we are emphasising. First is commodities, we believe that commodities will continue to trend upwards because the demand supply situation is such that we see high prices. The second area would be consumers—the per capita incomes are going up at a very rapid rate, thus I see a lot of opportunity in the consumer area.”

US on a growth path

The US economy is likely to see a recovery in 2010, according to Mobius. He sees the emerging markets too to do well in 2010, much in line with the US. “Though Ems have suffered on their exports, they would see a recovery in 2010. With this US recovery the entire global situation will look a lot brighter. I think the US is going to do quite well.”




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Heard on the street

Early JLR turnaround hope lifts Tata

Motors


Tata Motors was among the big gainers in Friday’s bearish session, with the stock gaining over 3% supported by strong volumes. On BSE, the stock closed at Rs 732.75, with 12 lakh shares changing hands compared with a two-week daily average of about seven lakh shares.

Players tracking the counter say the rise could have to do with some purchases by fund managers, convinced about a buy recommendation on the stock by JP Morgan on Friday. The brokerage has raised its rating on the stock to ‘overweight’ from ‘neutral’, and assigned a price target of Rs 825, after a meeting the company’s senior management.

Morgan is betting on a quicker-than-estimated turnaround at Jaguar Land Rover, because of improvement in the global economy, and also a sustained growth in the company’s domestic commercial vehicle business. Fund managers may be willing to take a medium-term bet, but derivatives traders seem confident that the stock is due for a correction.

Tata Motors December futures closed at a Rs 4 discount to cash on Friday. Open interest shrunk by 3.2%, indicating many traders with long positions would have used Friday’s rally to pare their positions.

Market seen in range as bulls, bears play safe

With the Nifty closing below the 5000-mark on Friday, the gloomy mood in the bull camp persists. Key indices have been range-bound for the past few weeks, and the “consolidation” is turning out to be longer than what bulls had thought. Even the staunchest of bulls are now bracing for a downturn over the next one month, with some saying that the Sensex could shed around 2000 points.

Those who have missed out on the rally this year are eagerly awaiting the correction with cheque books in hand, hopping to net some good bargains. But will the market correct as sharply as expected? Those gloomy/cautious /cautiously optimistic are not backing their words with actions. In other words, they are not selling the shares in their portfolios.


The mood in the bear camp is not upbeat either. Having lost money repeatedly over the past few months, trying to call a correction, bears are

lying low. Question is, if bears are reluctant to go short, and bulls don’t want to sell shares, what will bring about the corrections. Looks as though stock prices are likely to be range-bound for some more time, to the frustration of both bulls and bears.

Arshiya jumps nearly 50% in a month

Arshiya International appears to have caught the fancy of traders of late. The stock rose around 1% in a weak market on Friday, closing at Rs 188.25. Over the past one month, the stock has risen 43%. It is hard to see what bulls are excited about in the stock.

For FY09, the company reported consolidated revenues of Rs 500 crore, and an earnings per share of Rs 11.30. For the first half of the current financial year, the company has clocked revenues of Rs 228 crore and an EPS of Rs 4.31. Unless the company’s topline and bottomline grow significantly during the remainder of the year, the price-earning multiple of 17 looks stretched.

The extremely low-profile top executive of a domestic broking firm, with a sizeable stake in the firm, is said to be the self-styled advisor to the company, and is also pitching the company to institutional investors. Earlier this week, Arshiya’s subsidiary sold its Cyberlog product suite to Aurionpro Solutions for $10 million. Incidentally, the low-profile executive holds a decent stake in Aurionpro, too.

(Contributed by Santosh Nair)

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RIL continues to be top pick of MFs in Nov

See 12000 on Sensex before 21000: Shankar Sharma

See 2010 as a stock picker's market: PN Vijay

Gas case: Hearing ends; solicitor general makes final pitch

Report: Mark-to-mkt performance of IPOs of 2009

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From Economictimes

Flurry of IPOs set to hit markets in 2010

2010 may be a positive year for Indian investors: Credit Suisse

Trading pattern of recent IPOs | Potential stocks

Obama reaches climate deal with India, China, SA

Markets seen lacklustre; RBI move eyed

Low volumes may cause volatility

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Src: Economictimes, Moneycontrol