Monday, 31 December 2012

News Hour: Rupee drops for second consecutive year; seen gaining in 2013


The rupee fell due to oil-related dollar demand on Monday, ending 2012 with its second consecutive yearly fall, weighed down by a wide current account gap, the slow pace of financial reforms, and economic uncertainty at home and abroad.
However, the rupee ended the year with an improved tone, recovering some 4.2 per cent from the record low of 57.32 touched in June, when investor confidence in the economy and the government were at their weakest.
Data released just as the market closed showed the country's current account deficit widened to an all-time high of 5.4 per cent of GDP in the July-September quarter as export growth slowed more sharply than growth in imports, dragging the balance of payments into the red once again.
While challenges remain, investors are hopeful of a mild recovery in 2013, as the Reserve Bank of India is widely expected to start cutting interest rates as early as January, helping the economy recover after growth fell below 6 per cent in 2012.
"2013 should be a good year for Indian markets, including the rupee," said Ashtosh Raina, head of foreign exchange trading at HDFC BankBSE 0.18 %.
"We may see some rate cuts to spur growth and some improvement in the global sentiment which would help," he added.
The partially convertible rupee closed at 54.99/55.00 per dollar versus its previous close of 54.7550/7650.
For the year, the rupee fell 3.5 per cent, although that was only a fraction of its 19.1 per cent decline in 2011.
Traders said the rupee was wedged in a tight range for most of Monday as custodian banks and exporters continued to sell dollars to offset the demand from oil refiners looking to meet month-end demand, but dollar short-covering in late trade hurt.
The fate of the "US fiscal cliff" talks will drive sentiment in global markets this week, with the US Congress scheduled to meet later on Monday.
Looking ahead to the new year, the immediate trigger for the markets in 2013 will be whether the central bank delivers a rate cut at its Jan. 29 policy meet after shifting its focus towards managing growth from inflation.
Investors will also be looking at whether the government sticks to its reform drive after announcing a slew of fiscal and economic measures in September, well into the year.
India is also facing the prospect of a sovereign ratings downgrade from Fitch and Standard & Poor's, making its 2013/14 budget to be announced in February a key factor, given worries of a surge in spending ahead of general elections in 2014.
"I expect the rupee to be at 52.50 by end-March and head towards 54 by end 2013," said Vikas Babu Chittiprolu, a senior foreign exchange dealer with state-run Andhra BankBSE 0.30 %.
"I expect the budget to be a pro-reforms budget which would pave the way for a populist budget next year. I also expect inflows to continue which will help the rupee," he added.
In the offshore non-deliverable forwards, the one-month contract was at 55.36 while the 3-month was at 55.90.
In the currency futures market, the most-traded near-month dollar/rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange all closed at around 55.19 with a total traded volume of $3.22 billion.

(source:economictimes.indiatimes.com)

Commodity Market Update (Gold)



Bullions are trading higher today, the most actively traded Gold on CMX is at $1666.00, up by 10 points while Silver is at $30.21, added 0.80% till now. Base metals are also screening strength, LME three-month Copper is trading at $7939.50, up by 0.60% or $46.25 supported by an encouraging data from China. Energy complex are trading in red with Crude Oil on NYMEX is at $90.68, lower by 12 cents and Natural Gas futures are at $3.44, down by 0.66%.

BMA Commodity Gyaan: 'SILVER' series.

Market Synopsis, Morning Summary: 31st December, 2012



The major Indian equity benchmarks started the day on a flat note and currently, the indices are seen trading at similar levels. This has led the Sensex to trade near the level of 19450 i.e., up by nearly 7 points & the Nifty to trade near the level of 5910 i.e., up by nearly 2 points. The midcap & small-cap indices are trading positive by nearly half a percentage point. On the sectoral front, the indices are trading mixed. Realty index is leading the list of gainers with gains of nearly one and a half percentage points while FMCG index is leading the list of losers with losses of nearly half a percentage point. Further, the market breadth is positive as five stocks are seen advancing for every three declines.

BMA Success Mantra: 31st December, 2012

Saturday, 29 December 2012

Post your answers below..

'The Little Master Blaster' A tribute to the cricketing legend Sachin Tendulkar.



Born on 24th of April,Sachin Ramesh Tendulkar, is acknowledged as the greatest living batsman, and second only to Don Bradman in the all time greatest list in Test cricket. One Day Internationals (ODIs), statistics confirm that Sachin is by far the most successful batsman. In 2002, The Wisden ranked him the second greatest Test batsman of all time, behind Bradman, and the second greatest one-day-international (ODI) batsman of all time, behind Viv Richards. Tendulkar was a part of the 2011 Cricket World Cup winning Indian team in the later part of his career, his first such win in six World Cup appearances for India. He was also the recipient of "Player of the Tournament" award of the 2003 Cricket World Cup held in South Africa.

Tendulkar won the 2010 Sir Garfield Sobers Trophy for cricketer of the year at the ICC awards. He has been recommended for the receipt of the Bharat Ratna award, in fact it has been speculated that the criteria for the award of the Bharat Ratna was changed to allow him receive the award. He is also a member of Rajya Sabha of Parliament of India. Tendulkar passed 30,000 runs in international cricket on 20 November 2009. On 5 December 2012, Tendulkar became first batsman in history to cross the 34,000 run aggregate in all formats of the game put together. At 36 years and 306 days, he became the first ever player to score a double-century in the history of ODIs. Two years later he became the first player to score 100 international centuries. As of December 2012, Tendulkar has played 657 matches in international cricket.

Tendulkar has been honoured with the Padma Vibhushan award, India's second highest civilian award, and the Rajiv Gandhi Khel Ratna award, India's highest sporting honour. He was also the first sportsperson and the first one without aviation background to be awarded the honorary rank of Group Captain by the Indian Air Force. Tendulkar has received honorary doctorates from University of Mysore and Rajiv Gandhi University of Health Sciences. Sachin holds the 18th rank in ICC Player Rankings for Test batsmen as of 4 December 2012. On 1 August 2012, Sachin Tendulkar was nominated for the ICC People's Choice award for the third time. In 2012, he was nominated to Rajya Sabha, the upper house of the Parliament of India.
Sachin Tendulkar was conferred with the membership in the Order of Australia (AM) in Mumbai on 6 November 2012. Simon Crean, minister in the Australian cabinet, presented the award to Tendulkar. Julia Gillard, the Australian Prime Minister, was on an official visit to New Delhi in October and had announced Tendulkar's name as the latest recipient of the award. On 23 December 2012, Tendulkar announced his retirement from ODIs. Tendulkar has already stated that he will not be playing T20 Internationals.

Early life:                                                                                                                

Tendulkar was born on 24 April 1973 into a Rajapur Saraswat Brahmin family in Bombay (now Mumbai). His father Ramesh Tendulkar was a reputed Marathi novelist and his mother Rajni worked in the insurance industry. Ramesh named Tendulkar after his favourite music director, Sachin Dev Burman. Tendulkar has three elder siblings: two half-brothers Nitin and Ajit, and a half-sister Savita. They were Ramesh's children from his first marriage. He spent his formative years in the Sahitya Sahawas Cooperative Housing Society, Bandra (East), Bombay. As a young boy, Tendulkar was considered a bully, and often picked up fights with new children in his school. He also showed an interest in tennis, idolising John McEnroe. To help curb his mischievous and bullying tendencies, Ajit introduced him to cricket in 1984. He introduced the young Sachin to Ramakant Achrekar, a famous cricket coach of Bombay and a club cricketer of repute, at Shivaji Park, Dadar, Bombay 
.
Achrekar was impressed with Tendulkar's talent and advised him to shift his schooling to Sharadashram Vidyamandir (English) High School, a school at Dadar which had a dominant cricket team and had produced many notable cricketers. Prior to this, Tendulkar had attended the Indian Education Society's New English School in Bandra (East). He was also coached under the guidance of Achrekar at Shivaji Park in the mornings and evenings. Tendulkar would practice for hours on end in the nets. If he became exhausted, Achrekar would put a one-rupee coin on the top of the stumps, and the bowler who dismissed Tendulkar would get the coin. If Tendulkar passed the whole session without getting dismissed, the coach would give him the coin. Tendulkar now considers the 13 coins he won then as some of his most prized possessions. He moved in with his aunt and uncle, who lived near Shivaji Park, during this period, due to his hectic schedule.
                                                                                                
Meanwhile at school, he developed a reputation as a child prodigy. He had become a common conversation point in Mumbai cricketing circles, where there were suggestions already that he would become one of the greats. Besides school cricket, he also played club cricket, initially representing John Bright Cricket Club in Bombay's premier club cricket tournament, the Kanga League, and later went on to play for the Cricket Club of India. In 1987, at the age of 14, he attended the MRF Pace Foundation in Madras (now Chennai) to train as a fast bowler, but Australian fast bowler Dennis Lillee, who took a world record 355 Test wickets, was unimpressed, suggesting that Tendulkar focus on his batting instead. A couple of months later, former Indian batsman Sunil Gavaskar gave him a pair of his own ultra light pads. "It was the greatest source of encouragement for me," Tendulkar said nearly 20 years later after surpassing Gavaskar's world record of 34 Test centuries. His season in 1988 was extraordinary, with Tendulkar scoring a century in every innings he played. He was involved in an unbroken 664-run partnership in a Lord Harris Shield inter-school game against Anjuman-E-Islam High School in 1988 with his friend and team-mate Vinod Kambli, who would also go on to represent India. The destructive pair reduced one bowler to tears and made the rest of the opposition unwilling to continue the game. Tendulkar scored 326 (not out) in this innings and scored over a thousand runs in the tournament. This was a record partnership in any form of cricket until 2006, when it was broken by two under-13 batsmen in a match held at Hyderabad in India.

On 24 May 1995, at the age of 22, Tendulkar married Anjali, a paediatrician and daughter of Gujarati industrialist Anand Mehta and British social worker Annabel Mehta. Anjali is six years his senior. They have two children, Sara (born 12 October 1997) and Arjun (born 24 September 1999). Arjun, a left handed batsman, has recently been included in under-14 probables list of Mumbai Cricket Association for off-season training camp.





Career Achievements:
Sachin Tendulkar is the most prolific run scorer in one-day internationals with 18,426 runs. With a current aggregate of 15,470 Test runs, he surpassed Brian Lara's previous record tally of 11,953 runs as the highest run scorer in test matches in the second Test of Australia's 2008 tour of India in Mohali.Tendulkar described "It is definitely the biggest achievement in 19 years of my career" on the day he achieved the record. He also holds the record of highest number of centuries in both Test (51) and ODI cricket. On 16 March 2012, Tenduklar scored his 100th international hundred. It came against Bangladesh in the league matches of Asia Cup 2012. Throughout his career, he has made a strong impact on Indian cricket and was, at one time, the foundation of most of the team's victories. In recognition with his impact on sport in a cricket-loving country like India, Tendulkar has been granted the Rajiv Gandhi Khel Ratna, Arjuna Award, Padma Shri and Padma Vibhushan by the Government of India. He was also chosen as one of the five Wisden Cricketers of the Year in 1997 and is ranked by the Wisden 100 as the second best test batsman and ODI batsman of all time.
Tendulkar has also consistently done well in Cricket World Cups. Tendulkar was the highest run scorer of the 1996 Cricket World Cup and 2003 Cricket World Cup. After his century against England during group stages of 2011 Cricket World Cup, he became the player to hit most number of centuries in Cricket World Cups with six centuries and the first player to score 2000 runs in World Cup cricket. Tendulkar has scored over 1000 runs in a calendar year in ODIs 7 times, and in 1998 he scored 1894 runs, easily the record for the highest number of runs scored by any player in a single calendar year for one day internationals. Tendulkar is also one of the very few players who are still playing in international cricket from the 1980s. On 24 February 2010, Tendulkar broke the previous world record for highest individual innings in an ODI, and became the first male cricketer to score a double-century in one-day cricket. He made 200 runs and broke the previous record of 194 runs, jointly held by Pakistan opener Saeed Anwar and Zimbabwe's Charles Coventry.
                                                                                                      
He has been Man of the Match 13 times in Test matches and Man of the Series four times, out of them twice in the Border-Gavaskar Trophy against Australia. The performances earned him respect from Australian cricket fans and players.Similarly he has been Man of the Match 60 times in One day International matches and Man of the Series 14 times.He is the leading run-scorer and century maker in Test and one-day international cricket. He is the first player to score a double century in Men's ODI cricket. He also holds the world record for playing highest number of Test and ODI matches. Tendulkar is the only cricketer to accomplish the feat of scoring a hundred centuries in international cricket which includes 49 ODI and 51 Test centuries. He is also the only player to score fifty centuries in Test cricket, and the first to score fifty centuries in all international cricket combined. On 17 October 2008, when he surpassed Brian Lara's record for the most runs scored in Test cricket, he also became the first batsman to score 12,000, 13,000, 14,000 and 15,000 runs in that form of the game, having also been the third batsman and first Indian to pass 11,000 runs in Test cricket. He was also the first player to score 10,000 runs in one-day internationals, and also the first player to cross every subsequent 1000-run mark that has been crossed in ODI cricket history. In the fourth Test of the Border-Gavaskar Trophy against Australia, Tendulkar surpassed Australia's Allan Border to become the player to cross the 50-run mark the most number of times in Test cricket history, and also the second ever player to score 11 Test centuries against Australia, tying with Sir Jack Hobbs of England more than 70 years previously.On 24 February 2010, Tendulkar became the first man to score a double century (200*) in an ODI against South Africa. On 8 November 2011, Tendulkar became the first batsman to score 15,000 runs in Test Cricket.

Individual honours and appreciations:


National honours:

  1. Padma Vibhushan, India's second highest civilian award, 2008.
  2. Maharashtra Bhushan Award, Maharashtra State's highest Civilian Award in 2001.
  3. Padma Shri, India's fourth highest civilian award, 1999.
  4. Rajiv Gandhi Khel Ratna, India's highest honour given for achievement in sports, 1997–98.
  5. Arjuna Award, by the Government of India in recognition of his outstanding achievement in sports, 1994.                                                              

                                                                                                                         

Other honours

  1. Wisden Leading Cricketer in the World: 2010.
  2. ICC Award-Sir Garfield Sobers trophy for cricketer of the year 2010.
  3. LG People's Choice Award: 2010.
  4. ICC World Test XI: 2009, 2010, 2011.
  5. ICC World ODI XI: 2004, 2007, 2010.
  6. Player of the tournament in 2003 Cricket World Cup.
  7. Rajiv Gandhi Awards – Sports: 2005.
  8. Wisden Cricketer of the Year: 1997.
  9. In October 2010, he was awarded for Outstanding Achievement in Sport and the Peoples Choice Award at The Asian Awards in London.
  10. On 28 January 2011, he won the 'Castrol Indian Cricketer of the Year' award.
  11. 'BCCI Cricketer of the Year' award on 31 May 2011.
  12. On 3 September 2010, he was made a Honorary Group captain by the Indian Air Force.
  13. On 11 June 2012, he was given Wisden India Outstanding Achievement award.
  14. Honorary Member of the Order of Australia, given by the Australian government on 6 November 2012.
(source: wikipedia.org)




Friday, 28 December 2012

News Hour: Cyrus Mistry takes over as Ratan Tata, toast of India Inc, bids adieu.

Ratan Tata, an iconic corporate leader, retired as Chairman of Tata Group after a 50-year run today but kept away from office on his last day at the helm of one of country's oldest business empires.

Tata, who turned 75 today, is in Pune for his birthday, sources at Bombay House, headquarters of the salt-to-software conglomerate, told PTI, adding there was no clarity on whether he would visit his office later in the day.

Chairman-designate Cyrus Mistry, who made a visit to Bombay House today, will tomorrow take charge of the new assignment, sources in Tata Sons said.

Mistry was groomed for the assignment by Tata for a year. The group had earlier announced that he has been appointed chairman with effect from tomorrow.

Mistry chose the group company Tata Motors entry-level sedan Indigo Manza to travel to work on the important day, marking an end to an era.

The narrow lane leading to Bombay House, one of the oldest buildings in the heritage Fort area of south Mumbai, has heavy media presence since this morning in anticipation of Tata visiting Bombay House.

Ratan Tata, who helmed the group for 21 years after being chosen successor by his uncle, the iconic JRD Tata, in 1991, is credited with transforming the group through bold decisions including large global acquisitions, even as some of its peers struggled to stay relevant post economic liberalisation.

Mistry, who has been with the group since 2006 in various capacities hails from the Shapoorji Pallonji family, the largest private share holder of the group's holding company Tata Sons.

Born on July 4, 1968, Cyrus Mistry completed his graduation in Civil Engineering from London's Imperial College of Science, Technology and Medicine and followed it up with a masters in Management from the London Business School.

He was chosen by a 5-member panel last year to succeed Ratan Tata.

During Ratan Tata's tenure, the group's revenues grew manifold, totalling $100.09 billion (around Rs 475,721 crore) in 2011-12 from a turnover of a mere Rs 10,000 crore in 1991.

Tata led the group into some notable acquisitions, starting from Tetley by Tata Tea for $450 million in 2000, to steelmaker Corus by Tata Steel in 2007 for GBP 6.2 billion and the landmark Jaguar LandRover in 2008 for $2.3 billion by Tata Motors.

Courtesy the acquisitions, over half of the salt-to-software group's revenues are derived from outside the country.

Not limiting himself to big-ticket acquisitions, Tata also displayed sensitivity to the needs of the burgeoning middle class with the launch of the Rs one lakh Nano battling the odds in West Bengal.

(source:economictimes.indiatimes.com)

Market Synopsis: 28th December, 2012



The major Indian equity benchmarks started the day at the similar levels as that of yesterday’s close. During the day they gained further ground on the back of buying in energy stocks , following the report that the prices of Diesel and Kerosene will be gradually hiked. The benchmark also took cues from firm international markets. This led the Sensex to close at the level of 19444.84 i.e., up by nearly 121.04 points & Nifty to trade at the level of 5908.35 i.e., up by nearly 38.25 points. The midcap index closed positive with the gain of more than three forth of a percentage point, While small-cap index closed positive with the gain of nearly a quarter of a percentage point. On the sectoral front, all the indices closed in green, excepting Bank Index which closed slightly negative. . Oi l & Gas Index was the major gainer with the gains of nearly two and a half percentage followed by IT Index which gained by nearly one and a quarter percentage point. Further, the market breadth was neutrally placed as one stock was seen advancing for each declining stock.Find out morehttp://www.facebook.com/bmawealth/app_206541889369118

(pic source:bseindia.com)

Commodity Market Update (Copper)




Precious metals are trading slightly lower, with the near month Gold futures at $1661.00 trading lower by just $2.7 and Silver futures are at $30.11, down by 0.41% or 12 cents at the time of writing this. Market volumes are light as traders are waiting sideline ahead of US fiscal cliff and traders areaway on year-end holiday. Base metals are trading lower with 3-month Copper on LME is the only one to be slightly positive by a meager $4 at $7922.00 while other are trading into red. NYMEX Oil futures are flat, at $90.91 while Gas prices are down by 1.29% or 4 cents at $3.3680. We expect volatility during the evening session ahead of US Oil Inventories and Gas Storage Data. -

Data to watch:
Pending Home Sales
Crude Oil Inventories
Natural Gas Storage

Gold: Prices over the last 10 years.


Market Synopsis, Morning Summary:28th December, 2012



The major Indian equity benchmarks started the day at the similar levels as that of yesterday’s close. However currently, the indices are seen trading in positive on the back of fresh buying in a new series of January. This has led the Sensex to trade near the level of 19444.90 i.e., up by nearly 121.90 points & the Nifty to trade near the level of 5906.15 i.e., up by nearly 36.06 points. The midcap & small-cap indices are trading positive as they are up by nearly three-forth of a percentage point. On the sectoral front, all the indices are trading in green. Oi l & Gas is leading the list of gainers with gains of nearly one and a half percentage point followed by Power Index which has gained by more than a percentage point. Further, the market breadth is positive as three stocks are seen advancing for each declining stock.

BMA Success Mantra: 28th December, 2012

Thursday, 27 December 2012

News Hour: Petro products, power, coal underpriced; need to hike rates: PM Manmohan Singh


NEW DELHI: Describing the current economic situation as a difficult one, Prime Minister Manmohan Singhtoday hinted at tough decisions like hike in energy prices and reduction of subsidies to achieve the growth target of 8 per cent in the 12th Five Year Plan.

Inaugurating the National Development Council (NDC) meeting, Singh cautioned that "business as usual" policies will not be sufficient to achieve the scaled down growth target of 8 per cent, which he said was "ambitious".


The NDC, which comprises Cabinet Ministers and state Chief Ministers, is meeting here to approve the 12th Plan (2012-17) document.


The Planning Commission for the second time proposed reduction in the average annual growth target for the 12th Plan. It was first scaled down from 9 per cent to 8.2 per cent and now to 8 per cent.


Noting that energy prices in India are "too low", Singh said, "some phased price adjustment is necessary".


The central government and the states, he said, "must work together to create awareness in the public that we must limit the extent of energy subsidies".


The Prime Minister further said that the 12th Plan has made a case for containing subsidy as failure to control them would mean that "other plan expenditures have to be cut or the fiscal deficit target exceeded".


Singh also cautioned that "business as usual" policies will not be sufficient to achieve the scaled down growth target of 8 per cent, which he described as "ambitious" in the current scenario.


This is the second time that the Planning Commission has proposed reduction in the average annual growth target for the 12th Plan. It was first scaled down from 9 per cent to 8.2 per cent and now to 8 per cent.


Noting that India imports oil, natural gas and even coal, Singh said some adjustment in price was necessary to moderate demand of these products and curb imports.


"Energy pricing is critical for both objectives. If domestic energy prices are too low, there will be no incentive to increase energy efficiency or to expand even supply", Singh said, adding the centre and the states need to work together to create awareness in the public about the need to limit energy subsidies.


Energy experts, Singh said, were unanimous that the country cannot expect to achieve rapid, inclusive and sustainable growth if it did not undertake a phased adjustment in energy prices to bring them in line with world prices.


He further said failure to contain subsidy would mean either cutting plan expenditure in other sectors or exceeding the fiscal deficit target.


(source:economictimes.indiatimes.com)

Market Synopsis: 27th November, 2012



The major Indian equity benchmarks ended the day on December 27, 2012 in red on a weak note after opening with a small gap up. For the major part of the day , benchmark consolidated in a narrow range. It was only at the last hour of trades that the settlement pressure forced indicies to loose ground and close towards the low of the day. This led the Sensex to close at the level of 19323.8 i.e., down by 93.66 points and the Nifty to close at the level of 5870.10 i.e., down by 35.50 points. The midcap index closed in red with the loss of more than a quarter of a percentage point . While the small cap index lost nearly a three-fourth of a percentage point. On the sectoral front, all the indicies except Auto index and PSU index closed in red .Auto Index and PSU Index closed as the major gainer being able to close marginally in positive. While IT index closed as a major looser with loss of more than three forth of a percentage point. Further the market breadth was negatively placed as one stock was seen advancing against two declining stocks. Find out morehttp://www.facebook.com/bmawealth/app_206541889369118

(picsource:bseindia.com)

Commodity Market Update (Natural Gas)



Precious metals are trading mixed with the immediate delivery Gold on CMX is lower by 0.10% or $1.7 at $1659.00 while Silver futures are trading flat at $30.05. Market participants are cautious ahead of the decision pending for the US Fiscal Cliff to be announced later today. On base metals prices are trading positive across the LME; the three-month Copper is at $7930.00, up by more than 100 points at the time of writing this. On energy complex, near month Oil futures are at $91.24, up by 0.30% while Gas futures are lower by 0.67% at $3.402.

Three distinct stream that make up Gold Supply.

Market Synopsis, Morning Summary: 27th December, 2012

Photo: Good Morning Everyone..
The major Indian equity benchmarks started the day with a gap-up opening however currently, the indices are seen trading flat. This has led the Sensex to trade near the level of 19440 i.e., up by nearly 25 points & the Nifty to trade near the level of 5910 i.e., up by nearly 4 points. The midcap & small-cap indices are trading flat to positive. On the sectoral front, the indices are trading mixed. Auto index is leading the list of gainers with gains of over a percentage point while IT index is leading the list of losers. Further, the market breadth is positive as three stocks are seen advancing for every two declines.

Good Morning Everyone..
The major Indian equity benchmarks started the day with a gap-up opening however currently, the indices are seen trading flat. This has led the Sensex to trade near the level of 19440 i.e., up by nearly 25 points & the Nifty to trade near the level of 5910 i.e., up by nearly 4 points. The midcap & small-cap indices are trading flat to positive. On the sectoral front, the indices are trading mixed. Auto index is leading the list of gainers with gains of over a percentage point while IT index is leading the list of losers. Further, the market breadth is positive as three stocks are seen advancing for every two declines.

BMA Success Mantra: 27th December, 2012

Wednesday, 26 December 2012

News Hour: Government approves 12.5 per cent stake sale in RCF




The government today approved sale of its 12.5 per cent stake in Rashtriya Chemicals and Fertilisers Ltd (RCF), which could fetch around Rs 360 crore to the exchequer.

"The Cabinet Committee on Economic Affairs (CCEA) has approved 12.3 per cent disinvestment in RCF,"Finance Minister P Chidambaram said. He was briefing reporters after a meeting of the CCEA.

Government currently holds 92.5 per cent stake in RCF and the paid up capital of the company stood at Rs 551.69 crore.

At the current market price of the Rs 57.80 a share, the 12.5 stake sale could fetch around Rs 360 crore to the exchequer. Shares of RCF were trading at Rs 57.75, up 3.77 per cent in the afternoon trade on the BSE.

The stake sale approval is part of government's decision to raise Rs 30,000 crore through disinvestment in the current fiscal.

So far in 2012-13, the government has raised over Rs 6,900 crore through minority stake sale in PSUs.

The government has already identified 10 companies, including NTPC, Oil India (BSE -0.12%) (OIL), MMTC (BSE -0.92%), SAIL (BSE -0.11%), BHEL (BSE 1.14%), for disinvestment. The stake sale of OIL is likely in January followed by NTPC (BSE 0.42%) in February.

(source:economictimes.indiatimes.com)

Commodity Market Update (Crude Oil)



Precious metals are trading silent with a nominal decline of just 0.02% at $1659.10, near to the previous settlement while Silver is trading positive by 0.28% or +8 cents at $29.985 on CMX. Oil futures on NYMEX are higher by half a percent or 53 cents and trading at $89.15, whereas Natural Gas prices are lower by 0.81% at $3.318. Base metals prices are trading in a tight range with a negative bias while lack of participants as LME is closed today may lead to low volatility. Copper near month contract on MCX is at Rs.436.25, trading unchanged.

Gold: Commodity or Currency

Market Synopsis, Morning Summary: 26th December, 2012


The major Indian equity benchmarks started the day with a positive opening and the they are currently seen trading at similar levels. This has led the Sensex to trade near the level of 19305 i.e., up by nearly 50 points & the Nifty to trade near the level of 5870 i.e., up by nearly 15 points. The midcap & small-cap indices are trading positive by nearly half a percentage point each. On the sectoral front, except for IT index, all the other indices are trading in green. Realty index is leading the list of gainers with gains of over a percentage point. Further, the market breadth is positive as two stocks are seen advancing for every one decline.

(picsource:bseindia.com)

BMA Success Mantras: 26th December, 2012

Monday, 24 December 2012

News Hour: Kingfisher submits revival plan to DGCA



Ailing carrier Kingfisher Airlines today submitted its revival plan to aviation regulator DGCA in a bid to restart limited operations after having remained grounded for almost three months.
“The airline has submitted its revival plan, which we had sought as a precondition for revoking its suspended flying licence,” an official of Directorate General of Civil Aviation (DGCA) said.
Kingfisher had a few weeks ago submitted an application for renewal of its flying permit, which is due to expire on December 31. The permit was suspended by DGCA on October 20.
The DGCA officials had then said a decision to renew or revoke the suspension of its Standard Operating Permit (SOP) cannot be taken till it submitted a comprehensive financial and operational revival plan that was given today.
The official, however, did not elaborate on the revival plan of Kingfisher Airlines.
The DGCA had on October 20 temporarily suspended the SOP of the Vijay Mallya promoted carrier following a strike by its pilots and engineers over non-payment of salaries for several months, which completely grounded the fleet.
The cash-strapped airline is yet to pay its staff for seven months now. Mallya told the 17 lenders consortium weeks ago that he was preparing to restart limited operations with a planned fund infusion of Rs 425 crore through internal resources.
“We will restart operations in a phased manner and will provide funding ourselves. We have not asked the banks for any support. We have also shared full recapitalisation plan (with the lenders) which will be further discussed with a small designated group of bankers,” the airline had then said.
Kingfisher, which has a debt of nearly Rs 8,000 crore and accumulated losses and liabilities of a similar amount, has been grounded since October one after its pilots and engineers went on strike.

(source:thehindubusinessline.com)

Market Synopsis, Market Heatmap: 24th December, 2012



The major Indian equity benchmarks ended the day on December 24, 2012 on the same flattish note as they had started. Though the starting and the ending was flat,a gap up opening of the early session got corrected during the day. The markets were seen diving down to the previous levels as market participants preferred to take some profit off the table. The traders also avoided taking up huge positions in a week marked by Christmas holiday on Tuesday and derivatives expiry on Thursday. This led the Sensex to close at the level of 19255.09 i.e., up by 13.09 points and the Nifty to close at the level of 5855.75 i.e., up by 8.05 points. The midcap and the small cap indicies closed positive by about a quarter percentage point each. On the sectoral front, indicies closed mixed .Teck Index and Realty index closed as the major gainer with gains of nearly a percentage point. While Metal index closed as a major looser with loss of nearly half a percentage point.Further the market breadth was neutrally placed as one stock was seen advancing against each declining stock . Find out more http://www.facebook.com/bmawealth/app_206541889369118

Commodity Market update (Gold)



Gold and Silver are slightly positive following the recovery of last week’s sharp decline. The most actively traded Gold is at $1665.30, up by $5.30 or 0.32% and Silver near month contract is trading higher by 0.54% or 16 cents at $30.365 per ounce on COMEX. Base metals across the LME are trading in red while 3-month Aluminum is the only metal to trade positive by 0.36% at $2090.00. Three-month Nickel is the worst performer, at $17290, down by 0.66% while Copper is trading at $7832.00, down by 14 points of 0.16%. On energy complex, prices are trading lower with NYMEX Crude Oil futures at $88.50, down by just 0.10% and Natural Gas is at $3.41, down by almost a percent. We expect prices to trade in range with a negative bias for the day.

Worth it's weight in Gold.

Market Synopsis, Morning Summary: 24th December, 2012


 

The major Indian equity benchmarks started the day with a gap-up opening and they are currently seen trading at similar levels. investors however remained concerned about whether US lawmakers would be able to reach a budget deal that could avert the likelihood of a recession next year. This has led the Sensex to trade near the level of 19268.72 i.e., up by nearly 26.72 points & the Nifty to trade near the level of 5850. i.e., up by nearly 3.20 points. The midcap & small-cap indices are trading positive by nearly a quarter of a percentage point each. On the sectoral front, Indiceis are trading mixed . IT index and Teck index are leading the list of gainers with gains of nearly one percentage point each. While Oil & Gas Index is leading the list of loosers with a loss of more than half a percentage point. Further, the market breadth is neutrally placed as one stock is seen advancing for each declining stock and the volumes are thin.

(picsource:bseindia)

BMA Success Mantra: 24th December, 2012

Saturday, 22 December 2012

Post your answer below...

"The Master Filmmaker, Satyajit Ray"



One of India’s most distinguished film directors Satyajit Ray, was born on May 2, 1921 in West Bengal. Ray’s films are of universal interest despite the fact that most of his films were made in Bengali. His films are essentially about those things that make up the human race – relationships, emotions, struggle, conflicts, joys and sorrows. Satyajit Ray, the master story teller, has left cinematic heritage that belongs as much to India as to the world. His films demonstrate a remarkable humanism, elaborate observation and subtle handling of characters and situations. His first film Pather Panchali (Song of the Road, 1955) established his reputation as a major film director, winning numerous awards including best human document at Cannes in 1956 and Best Film in Vancouver in 1958. Pather Panchali is the first film of the Appu trilogy — a three-part tale of a boy’s life from birth through manhood. The other two films of the trilogy are Aparajito ( The Unvanquished, 1956 ) and Apur Sansar ( The World of Apu, 1959).
Satyajit Ray - A brief biography, Biographies for kids: 6_1.gifA versatile craftsman who worked in several film genres, Ray was known best outside India for his moving depictions of Indian family life. Two other outstanding Ray films, Jalsaghar (The Music Room, 1963) and Mahanagar (The Big City, 1963), deal with the changing nature of contemporary Indian life, whereas Charulata (1964) is a graceful adaptation of Rabindranath Tagore's classic portrait of the Indian middle classes in the Victorian era.
In later films such as Aranyer din Ratri (Days and Nights in the Forest, 1969), Pratidwandi (The Adversary, 1971), and Seemabadha (Company Ltd., 1971), Ray focused on political and social themes without losing his humanistic perspective.
Satyajit Ray wrote all the screenplays of his films, many of which were based on his own stories. He also designed the sets and costumes. He composed the music for many of his films, including Ghare Baire (The Home and the World, 1984), based on Tagore's novel about Bengal in the early 20th century. In 1978, the organising committee of Berlin Film festival ranked him one of the three all-time best directors. Just before his death, in 1992, Ray was given a lifetime achievement award by the Academy of Motion Picture Arts and Sciences. Other honours include Legion or’ Honneur from France and the Bharat Ratna in India. He died on April 23, 1992.
Ray’s films belong to a genre that includes the works of Akira Kurosawa, Alfred Hitchcock, Charles Chaplin, David Lean... all very different in style and content and yet creators of cinema that’s timeless and universal.
(Source: www.pitara.com)

Friday, 21 December 2012

News Hour: Gold plunges to six-week low to below Rs 31K level


Gold prices plunged to a six-week low by losing Rs 330 to Rs 30,870 per 10 gm on heavy selling by stockists triggered by a meltdown in global markets
NEW DELHI: Gold prices plunged to a six-week low by losing Rs 330 to Rs 30,870 per 10 gm in the national capital today on heavy selling by stockists triggered by a meltdown in global markets. 

Traders said sentiments turned bearish after gold became a worst performer in six months in overseasmarkets as the struggle by US lawmakers to reach a budget deal strengthened the dollar and reduced demand for the metal as an alternate investment.

Also read: Don't go overboard with your investments in glittering gold 

Gold in global markets, which normally set price trend on the domestic front, fell by 0.7 per cent to $ 1,635.80 an ounce, the lowest price since August 22 and silverby 1.1 per cent to $29.64, cheapest since August 22 in Singapore. 

Besides, sluggish domestic demand due to ending of marriage season further fuelled the downtrend, they said. 

Silver followed suit and dropped by Rs 1,550 to Rs 57,750 per kg on poor demand from industrial units and coin makers. 

On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 330 each to Rs 30,870 and Rs 30,670 per 10 gm, respectively, the levels last seen on November 4. Sovereign also fell by Rs 100 to Rs 25,400 per piece of eight gram. 

Similarly, silver ready dropped by Rs 1,550 to Rs 57,750 per kg and weekly-based delivery by Rs 2,085 to Rs 57,715 per kg. Silver coins lost Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

(Source: economictimes.indiatimes.com)

Market Heatmap, Market Synopsis: 21st December,2012



Market Heatmap:
The major Indian equity benchmarks opened with a gap down on December 21, 2012 and continued to languish below the dotted line for the rest of the day. As selling continued across the board, Indian share markets slipped deeper into the red in the post noon trading session. Today’s loss was the biggest loss in Indian benchmarks since October 8,2012 on the back of the uncertainty over US fiscal cliff deal. This led sensex to close at 19242 i.e down by 211.92 points and Nifty to close at 5847.70 down by 68.70 points. The midcap index and the small cap index closed negative by nearly one and a half percentage point. On the sectoral front, all the indices closed in red. Realty Index closed as the major looser with the loss of three and a half percentage point. However Metal & Helthcare indicies lost more than one and a half percentage points each.Further the market breadth was considerably negatively placed as one stock was seen advancing against three declining stocks.

Find out more http://www.facebook.com/bmawealth/app_206541889369118

Commodity Market update (Copper)


Commodity Market update (Copper)
Time: 15:12 Date: 21/12/12
Precious metals are trading slightly positive with active Gold futures at $1651.80, up by $6 or 0.35% and Silver is trading higher by 1.17% at $30.025 after declining much in its last session. Oil prices are down by a percent or a dollar to trade at $89.13 and Natural Gas on NYMEX is lower by 0.58% to trade at $3.542. Base metals are trading mixed with Copper on LME is trading in green at $7791.50, higher by 0.25%.

Data to Watch:
US Core Durable Goods Orders
US Personal Spending

Gold consumer demand by different countries


Market Synopsis, Morning Summary: 21st December, 2012



The major Indian equity benchmarks started the day with a gap down and continued to trade down with cues from the Asian Markets. This has led the Sensex to trade near the level of 19349.19 i.e., down by nearly 104.73 points & the Nifty to trade near the level of 5877.35 i.e., down by nearly 39.05 points. The midcap & small-cap indices are trading negative by more than quarter of a percentage point each. On the sectoral front, except for IT index, all the other indices are trading in red. IT index is trading positive with the gain of just less than quarter of percentage point While Reality index and Consumer Durables index are the biggest looser with the loss of more than a percentage point. Further, the market breadth is negative as one stock is seen advancing for every two declines.

(picourtesy:bseindia.com)

BMA Success Mantra: 21st December, 2012

Thursday, 20 December 2012

Market Heatmap, Market Synopsis:20 th December,2012


Market Heatmap:
The Indian market ended in negative after languishing below the dotted line for the most part of the day. Markets saw a sharp sell-off in the initial trades taking cue from the weak international markets. This was in spite of BJP's decisive win in Gujarat on expected lines, and to a large extent, the expected Congress’s gain from the anti-incumbency wave in Himachal. This led the Sensex to close at the level of 19453.92 i.e.,down by 22.08 points and the Nifty to close at the level of 5916.40 i.e. down by 13.20 points. The midcap & small-cap indicies closed negative by almost a quarter of a percentage point. On the sectoral front, the indicies closed mixed. Metal index closed as the major gainer with gains of over a percentage point , while Consumer Durable index was the major looser and closed with the loss of nearly a percentage point. Further, the market breadth closed negative as two stocks were seen advancing for three declining stocks.Find out morehttp://www.facebook.com/bmawealth/app_206541889369118

Commodity Market Update (Natural Gas)


Commodity Market Update (Natural Gas)
Bullions are trading a bit higher today after the last night’s decline in prices. Gold is trading up by 0.19% or $3.20 at $1670.80 and Silver is higher at $31.18, adding 0.17% or just 5 cents. Oil prices are trading lower today at $89.58, down by half a percent or 40 cents while Natural Gas is trading positive today, the front month contract on NYMEX is up by 1.5% at $3.36. Copper along with all other metals are trading in red with benchmark Copper contract on LME is at $7865.75, down 0.72%.
Data to watch: US Unemployment Claims, US Existing Home Sales, US Philly Fed manufacturing PMI