Showing posts from March, 2014


Investor wealth soared by over Rs 10.27 lakh crore to Rs 74.15 lakh crore during 2013-14 on the back of rising stock prices helped by smart foreign fund inflows. The BSE Sensex gained 3,550.5 points or 18.84 per cent in 2013-14 fiscal. Led by the rally in the stock market, the investor wealth soared by Rs 10,27,424 crore to Rs 74,15,310 crore as on today from Rs 63,87,886 crore in the previous fiscal, 2012-13.
Brokers have attributed the rally to investor hopes of a stable government after elections and signs of economy returning to high growth path. Foreign investors, the main drivers of Indian stock markets, have made net inflows of a whopping nearly Rs 80,000 crore in the domestic stocks during the current fiscal year.
Marketmen said that sentiment in the stock market picked up following euphoria related to general elections and on hopes that a BJP-led government will come into power in the upcoming Lok Sabha elections starting next month. Analysts expects that…


Citing safety reasons, railways has decided to remove curtains put on pathways of all air- conditioned three-tier (3 AC) coaches of trains. However, the curtains from windows of 3 AC coaches will continue, officials said. Decision to remove curtains was taken on recommendation of Commissioner of Railways Safety (CoRS) following its enquiry into causes of last year's fire in Bangalore-Nanded Express train, that left at least 26 people in Andhra Pradesh.
"Railway Board had on March 12 decided to remove all curtains put on pathways of 3 AC coaches. All zonal railways have been instructed to remove them," a senior Railway Ministry official said. The zonal railways will remove the curtains as and when a train undergoes general maintenance works, he said.
Though the curtains were made of fire-retardant material, but considering CoRS recommendation, the board has decided to remove them, the official said.
A major fire had ripped through a third AC coach of the Bangalore-Nanded …


RBI POLICY KEYNifty continued its winning streak for 7th day in a row and Nifty closes above 6700 mark. Stop loss for Nifty long positions may be maintained at  6600.    Nifty spot is expected to encounter resistance at 6745, 6780 and find support at 6665, 6630, for Tuesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to be generally better in the midsession and could encounter selling pressure towards close. However, RBI Policy would be the main influencing factor for the market. Caution is advised at higher levels. 

Nifty                               6704  +8
Review for Monday :: Nifty Closes above 6700 mark …Metal Stocks Zoom …  !!!
Market appears to have encountered selling pressure at high levels but found support too at lower levels and finally closed in the positive territory ahead of RBI meet on Tuesday. 30 of Nifty stocks gained and  broader market too  was positive  with…


The domestic baby and child care market, which has been growing at CAGR of 17 per cent since 2012, is set for a big boom with a host of global players foraying with innovative products. Brevi from Italy, Combi from Japan, Bubba Blue from Australia, Tiny Love from Israel, Grup Baby from Turkey, US Baby from China, Kiddy Gmbh from Germany, Tolly Joy from Singapore and Farlin from Taiwan are some of the top brands which will be foraying into the local market during an industry event taking place this week. "The child-baby care product industry is highly fragmented with few organised players in the fray. Considering the huge potential that this market offers, these brands are making a debut in the local market," UBM India Managing Director Joji George said. UBM India specialises in holding exhibitions with an aim to bring together all stakeholders -- manufacturers, distributors, retailers as well as consumers -- at one common platform and has been organising the…


Visitors from Hong Kong have topped the list of travellers paying the most for hotel accommodation in India in 2013, parting with an average Rs 8,061 per night, which is six per cent more than what they paid in 2012, says a report. Visitors from West Asia stood at the second place, paying Rs 7,909 a night, followed by South Africans, who paid Rs 7,594, said in the report. "Travellers from Hong Kong paid the most for hotel accommodation in India in 2013, paying Rs 8,061 a night. This is a 6 per cent increase when compared to what they paid in 2012," according to Hotel Price Index (HPI). Travellers from both West Asia and South Africa paid 3 per cent and 4 per cent, respectively, more than the previous year, it showed. Many of the highest increases were paid by visitors from Europe. Among the European nations, travellers from Belgium parted 25 per cent more at Rs 6,363, Finland (22 per cent) at Rs 6,187 and Italy had the same percentage…


The National Stock Exchange (NSE) today held the 30th 'Investothon,' the fourth time in the financial capital, to create awareness among investors and market intermediaries about the importance of investing safely. The event was flagged off by NSE Managing Director and Chief Executive Chitra Ramkrishna and attended by HDFC Ltd CEO Keki Mistry, SBI MD and Group Executive (national banking) A Krishna Kumar, ICICI Lombard General Insurance Managing Director and Chief Executive Bhargav Dasgupta, a release said here. Besides, Olympic Gold Quest CEO and former Hockey Captain Viren Rasquinha also participated in the event, it said. "NSE takes a number of initiatives to reach out to investors in different parts of the country. The investor run is aimed at strengthening NSE's efforts to grow the investor base, by joining hands with members and market participants, to sensitise investors about safe investing and opportunities available in the markets," Ram…


FURTHER RISE...?Outlook for Next Week :: 31.03.2014 to 04.04.2014Planetary Position ::  During the current week Moon would be transiting  from Revathi in Pisces to Rohini in Taurus. Sun transits in Revathi in Pisces . .  Mercury transits  in Poorvabhadra  in  Aquarius and Pisces . Mars  transits in   Chitta constellation in Virgo  and has been in  Retrograde motion from 1st March till 20th May.    Saturn too in  Retrograde motion from 2nd March till 20th July and presently in  Visakha  constellation in  Gemini navamsa.   Jupiter transits in Aardra constellation and in  Pisces Navamsa during the week.  Nifty’s range between 28th and 31st March would be the reference range for the next Three weeks. Nifty can be econsidered bullish above the High and bearish below the Low. Further, global markets can be expected to correct in Second half of April and whether our markets would follow is to be seen?

NIFTY :: 6696 (+201)    “When money talks, listen with interest.. Don’t argue with Money”. Th…


he rupee breached the 60-level to 59.91 against the dollar for the first time in eight months against the dollar, buoyed by strong equities and consistent fund inflows. At the Interbank Foreign Exchange (Forex) market, the rupee surged 63 paise to 59.68 during the day but surrendered some gains. Forex dealers said that Reserve Bank was present in the market at various levels, at 60, 59.95 and 59.85, which capped the rupee’s gain. The domestic currency finally settled the day at 59.91, a surge of 40 paise or 0.66 per cent from its previous close. Previously, the rupee had logged its intra-day high of 59.52 on July 30, 2013 rpt 2013 and registered its closing high of 59.41 on July 29, 2013 rpt 2013. Forex dealers, however, said the rupee may weaken if the poll outcome is not as per market expectations. "Higher inflows from foreign investors has been supporting the rupee," said Ramesh Singh, Treasurer at Central Bank of India, adding that once the current …


As general elections draw closer, global financial major Goldman Sachs today said 40 million new manufacturing jobs can be created in a decade if states follow flexible labour laws like in Gujarat. Besides labour laws, implementation of proper reforms in other areas such as subsidies, can lead to overall job gains rising to 110 million over the next 10 years, the largest for any major economy, Goldman Sachs said. The observations assume significance as they come at a time when a political debate is underway on the comparison between growth model of Narendra Modi-led Gujarat and that of other states ruled by Congress and other parties. Modi is the Prime Ministerial Candidate of BJP, which is trying to wrestle power from Congress at the Centre. The report said, the Gujarat government amended the Industrial Disputes Act in 2004 to allow for greater flexibility in the labour market for Special Economic Zones (SEZ). It allowed for companies within SEZs to lay off workers…


The BSE benchmark Sensex rose to its historic high level for the fifth straight day today but ended a tad lower at 22,339.97, which is its fresh closing record. The 30-share index surged to record intra-day high of 22,363.97 points on buying by foreign funds mainly in banking stocks after RBI extended the deadline for banks to implement BASEL III norms by a year to 2019.
Increased fun flows also pushed the rupee to trade below a crucial 60 level against the US dollar which further strengthened the market sentiment, brokers said.
Later, the barometer closed at 22,339.97 points, up by 125.60 points, or 0.57 per cent, over the previous close. The National Stock Exchange's wide-based index Nifty shot up by 54.15 points, or 0.82 per cent, to record closing high of 6,695.90, after hitting a life-time high of 6,702.60 in day trade. Both the key indices touched record high levels intra-day in the five sessions till today.
Brokers said the market remained on a record setting spree this wee…


Cracking down on private air charters, DGCA today refused to allow a private aircraft to take off from Delhi for violating safety norms and dismissed the pilot of Reliance Industries who was not carrying his license while on duty.
In Mumbai, officials of the aviation regulator also held up two such flights -- one of L&T and the other of Poonawalla Aviation company -- on the same grounds today, DGCA sources said.
In Delhi, a Hawker 800 XP of SRC Aviation, which was to fly to Colombo on a chartered flight, was not allowed to take off for several hours as DGCA officials, conducting the checks, found several safety violations, like absence of life jackets or minimum equipment list, the sources said.
Similar violations were also found in the Falcon 900 plane of Poonawallah, which landed at Mumbai from Agra, they said, adding that L&T's aircraft also violated safety norms.
The action comes at a time when private planes and helicopters are being heavily used…


In a fresh dramatic twist to the Sebi-Sahara saga, an innovative idea was today floated for collection of at least Rs 1 lakh each from Sahara employees and 'well-wishers' to garner at least Rs 5,000 crore and secure group chief Subrata Roy's release from Tihar Jail.
The money has been proposed to be collected in lieu of shares in Saharayn e-Multipurpose Society Ltd, which would be alloted to each contributing employee of the entertainment-to retail business conglomerate, which claims to have a workforce of over 11 lakh salaried and field workers.
The contribution 'appeal' was made through a one-page letter signed by directors of this Society and 'associates' of the group and asked each employee of the Sahara India Pariwar and their well-wishers to contribute Rs 1 lakh, Rs 2 lakh, Rs 3 lakh or even more as per their wish and capacity.
When contacted, a senior Sahara official clarified that the letter has not been issued by Subrata Roy…


The Reserve Bank today said the investment limit in the inflation indexed bonds for individuals has been doubled to Rs 10 lakh. Also, the limit for institutions like HUF (Hindu undivided family), Charitable Trusts, Education Endowments and similar institutions which are not pro-profit in nature has been increased from Rs 5 lakh to Rs 25 lakh per annum, RBI said. The subscription for the Inflation Indexed National Savings Securities- Cumulative will close on March 31. The RBI in consultation with government had launched the bond in December. Earlier, the bond was open for subscription during December 23-31, but was later extended to March 31. Interest rate on the bonds are linked to Consumer Price Index (CPI).
These securities will be issued in the form of Bonds Ledger Account (BLA).


CAUTION @ HIGHER LEVELS Nifty maintained above 6600 mark for most part of the day and closed too above 6600 with a nomination gain of about 10 points. Thursday, 27th March, being last day of March Derivative series, scrip specific action can be expected with Bullish stocks being further bullish and bearish stocks going down further. , generally. Stop loss for Nifty long positions may be enhanced to 6540.   Nifty spot is expected to encounter resistance at 6640, 6675 and find support at 6560, 6525, for Thursday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to encounter zigzag  movements with scrip specific movements on account of last day of Derivative closing and caution is advised at higher levels as selling / profit booking could emerge.
Nifty                               6601  +11
Review for Wednesday :: Zigzag Movement with Bullish Bias …  !!!
Market opened higher but could not…


Indian benchmark indices made a stellar start to the week with Sensex and Nifty today logging new lifetime highs, boosted by FII buying in banking shares on hopes the RBI will hold rates in the upcoming policy review. Hectic activity in select sectors ahead of the expiry of March derivative contracts on Thursday also helped domestic markets shrug off weak Chinese data, say traders.  The BSE Sensex resumed strong and gradually moved upwards to a new intra-day historic high of 22,074.34, before concluding at 22,055.48 -- gain of 300.16 points, or 1.38 per cent, which is the biggest daily rise in two weeks. It surpassed previous closing high of 21,934.83 recorded on March 10 and lifetime peak of 22,040.72 set on March 18. The broader 50-issue CNX Nifty of the NSE also flared up by 88.60 points, or 1.36 per cent, to end at new record closing of 6,583.50. It registered lifetime peak of 6,591.50 on an intra-day basis as well. Some experts advised caution as benchmark indices set new highs. &…


As many as 37 social entrepreneurs including two Indians have been recognised by the Schwab Foundation as Social Entrepreneurs of the Year 2014. The two Indian awardees are -- Shelly Batra of Operation ASHA and Chetna Vijay Sinha of Mann Deshi Bank and Mann Deshi Foundation. The 37 social entrepreneurs working in health, education, employment, and the environment were selected in recognition of their innovative approaches and potential for global impact, Schwab Foundation said in a statement. On 'Operation ASHA', Schwab Foundation said it is "tackling the fractured delivery system of Government of India's TB control program through a doorstep TB detection and treatment service that is low-cost, high quality and accessible to the poor." Operation Asha is active in India and Cambodia and the number of direct beneficiaries stood at 30,500 fully treated patients, the statement said. Meanwhile, Mann Deshi Mahila Bank was founded as India's first rural cooperative …


Retirement fund body EPFO will start providing permanent account numbers on the pattern of core banking services to its over five crore subscribers from October this year. Permanent or universal account number (UAN) will facilitate subscribers to avoid filing PF account transfer claims on changing jobs.
After getting UAN, a subscriber would not be issued new PF account number on joining new employer. It is expected to provide great relief to those workers in organised sector who frequently change jobs, particularly, in the construction sector. The UAN would be one account number which would be allotted to a subscriber for various schemes run by the Employees' Provident Fund Organisation (EPFO) for his or her entire service period with different employers. "We have engaged C-DAC for preparing a roadmap for implementing the UAN programme for our subscribers. We will launch it on October 1 this year," EPFO's Central Provident Fund Commissioner K K Jalan told PTI. The Ce…


Investors will get another chance to own a portfolio of bluechip PSU stocks offered in the CPSE Exchange Traded Fund (ETF) as the scheme will reopen for subscription in the first week of April.
The New Fund Offer (NFO), which closed on March 21 after mopping up bids worth Rs 4,200 crore, is expected to see renewed inflows as the excess demand of Rs 1,200 crore may come in when the subscription reopens. The government had targeted raising Rs 3,000 crore through the scheme, its first attempt to garner disinvestment proceeds via the mutual fund route. The NFO saw encouraging response as investors, both domestic and foreign, pumped in funds even as stock markets mostly remained range-bound.
"The scheme will reopen for continuous subscription and redemption on or before April 4 instead of the earlier announced April 11, so as to give interested investors a chance to invest and trade freely," a source said.
The CPSE ETF basket consists of shares of 10 PSUs …


There has been a huge rise in the number of people under 30 years of age seeking credit in the last five years, according to credit information provider Cibil report. While those under 30 years constituted just around 7 per cent of the new credit applicants in 2008 and the same has grown to over 25 per cent now, the Cibil report said. Interestingly, eagerness shown by youth in getting indebted comes at a time when people have been complaining about bleak times on the economic front due to falling growth, which also led to some job losses, the report said. Till FY 2008-09, the economy was doing very well and the same has now plummeted and logging even a 5 per cent growth is also seemed to be an uphill task this fiscal, it said. Cibil further said it could be noted that the demographics have undergone a radical shift in the past decade, with the country getting more "younger", i.e. the percentage of working age population (between 15 and 35) growing rapidly. …


Residents of the city can now buy water from an ATM, that too at an affordable price of Rs 1 per litre.In a first-of-its-kind for Mumbaikars, non-profit group Vandana Foundation has started 'AQUATM', a water vending machine."The ATM can vend up to 1,000 litres per day... The water from AQUATM will be available to consumers at the price of Re 1 per litre," the Foundation said in a statement.Vandana Foundation and another non-profit group Aquakraft have come together for the water ATM.The vending machine has been set up at Mankhurd where there are water contamination problems.It can be operated through prepaid cards.


Customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers, an RBI report says. "The Committee has suggested that providing customers with a free copy of their Credit Information Reports (CIRs) would help create awareness about the need to have credit discipline, enable customers to correct their behaviour and improve their score well before they plan to avail fresh credit of any kind...," the report said. The move would also help detect identity theft at an early stage, it added. Report of the 'Committee to recommend Data Format for Furnishing of Credit Information to Credit Information Companies (CICs)' has been put up on RBI's website for comments. The committee, which recently submitted its report to RBI, has made wide ranging recommendations on issues relating to credit information, such as, increasing its coverage, format of reports and best practices to be followed by credit instituti…


WIDE RANGE WITH BEARISH BIASGeneral outlook for the week (24.03.2014 to 28.03.2014) ::

Planetary Position ::  During the current week Moon would be transiting  from Moola in Sagittariusi  to Sathabhisham in Aquarius. Sun transits in Uttarabahdra in Pisces . .Mercury transits  in Sathabhisham constellation in  Aquarius . Mars  transits in   Chitta constellation in Libra and Virgo  and has been in  Retrograde motion from 1st March till 20th May.  Saturn too in  Retrograde motion from 2nd March till 20th July and presently in  Visakha  constellation in  Gemini navamsa.  Jupiter transits in Aardra constellation and in  Pisces Navamsa during the week. Mars’ position in Chitta in Airy sign in Vargottamamsa created too much of activity and bullishness but its reentry into earthy and inimical sign Virgo on 25th could take away bullishness and bring back bearishness and consequently the much awaited correction. During the current week Moon’s position in Sagittarius on Mon and Tuesday once agai…


Indian business honchos Anand Mahindra and Lakshmi Mittal are among the world's 50 greatest leaders, according to Fortune magazine. The list of leaders, which includes Nobel Peace Prize winner Aung San Suu Kyi, the Dalai Lama and Pope Francis, through their leadership are "energizing" their followers and making the world better, it said. "The World's 50 Greatest Leaders list out today is topped by the 77-year old Pope, who has in just over a year electrified the church and attracted legions of non-Catholic admirers by energetically setting a new direction. "In an era that feels starved for leadership, we've found men and women who will inspire you -- some famous, others little known, all of them energizing their followers and making the world better," Fortune said. The Pope, who has washed the feet of a female Muslim prisoner, created a group of eight cardinals to advise him on reform, which a church historian calls the "most …


FORENOON SUBDUED Nifty has been trading in a narrow range testing the patience of market participants and closed nearly flat but market breadth was positive. Unless Nifty closes below 6475, deeper correction can not be expected.  Nifty spot is expected to encounter resistance at 6535, 6570 and find support at 6450, 6415, for Monday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to encounter zigzag  movements with subdued forenoon session and volatile movements towards close. Saturday’s session is usually lackluster, barring  adjustment of opening level  to the global markets.
Nifty                               6493  +10
Review for Friday ::  Narrow Movement…  !!!
One more narrow movement day and indices close with minor gain. 32 of Nifty stocks closed in the green and broader market too was positive with Advance Decline ratio at 1.4:1. Realty, Media, Metal, Bank, Auto, IT and FMCG …


IRCTC has again set a Record by selling 5.80 lakh e-tickets yesterday, This record surpassed the previous high of 5.72 lakh on single day. The earlier highest booking was on September 2, 2013. Generally, two to three passengers are booked on a single e-ticket on an average. Currently, the site books more than 4.63 lakh tickets with an average of 9.47 lakh passengers daily as against 3.85 lakh tickets with 6.86 lakh passengers booked daily in 2013. It marks a 20 per cent increase in the number of tickets and a 38 per cent increase in the number of passengers. The daily transaction of tickets involves a business totalling about Rs 53 crore now against Rs 37 crore in 2013.
The upgradation of the site is underway to enhance the ticket booking capacity, an official said. "Our aim is to increase the booking rate to more than 7,000 tickets per minute from its present rate of 2,000 tickets and ultimately to make the site capable of handling 1.2 lakh users at any point of time as compared…


Do you share your name with some of the most famous film characters which have been brought to life by Bollywood actors and actresses? If so, you can get a discount on air tickets. With a view to paying homage to iconic Indian cinema, Virgin Atlantic airline has decided to offer discounted tickets to those who have for their name one of the 12 most famous 'filmi' monikers in Bollywood. Karan, Simran, Anthony, Tina, Vijay, Pooja, Arjun, Priya, Rahul, Kiran, Rohit and Sonia are the 12 names which would bring discounts on tickets to passengers sharing the same, an airline official said. The scheme is part of the Richard Branson-owned airline's 'Feel like a Star' campaign, which aims to convey the airline's hip, innovative and localised experience to flyers. "'Feel like a Star' campaign highlights the unique experience of flying Virgin and will surely connect with all Bollywood lovers. Last year, we flew over 1,000 passengers with these shortlisted fil…