Archive for April, 2008
After some trouble days in the stock markets, investors seems to have lost confidence a bit and trying to stay away from New Fund Offers from Mutual Funds. This is because of the fact that almost all recently launched NFOs are in the negative NAV. Of course, even the senior fund schemes too are tasting trouble times after the recent correction in both the domestic and the global markets. With the US economy in a possible recession, crude oil touching newer highs every day, just few months of Indian Elections, the stock markets, it seems, wont go in for a huge rallies at least for some time now. Needless to stay, even the most cautious Mutual Fund investor too is trying to stay cautious and this is appearing from the inflow of the Mutual Fund NFOs. Are the good days for the NFOs over for some time now? or aren’t the marketing campaigns of the mutual fund houses not looking that savvy? Let’s wait and see..
April 30th, 2008
The Indian stock markets opened positive this morning. CNX Nifty is up 0.47% while BSE Sensex is up 0.39%. The Largecap, Midcap and Smallcap are trading okay in the first half an hour of trade.
Metal stocks looks good. The BSE Metal Sectoral index is up 1.5%. PSU, Consumer Durables, Healthcare are looking good. IT and Reality sectoral indices are marginally in the red.
Some profit booking is seen in large cap telecom stocks. Both Reliance Communications and Bharti Airtel are in the red. Banking stocks are mixed as both traders and investors are keeping waiting for the key announcements from the Reserve Bank of India (RBI) later today. The Bank Nifty is marginally in the red and is down 0.34%
Tata Steel is trading above the Rs. 800 mark. The script is at Rs. 805.25 up 3.44%
April 29th, 2008
The American markets had a mixed day on Monday. NASDAQ lost points for the first hour of trade before taking a reveral route. The reverse course continued for almost till the end before which the index reversed and closed the day a mere 1.47 points up. Dow Jones Industrial Average closed in the red losing 20.11 points. The S&P 500 lost 1.47 points.
Mars, the makers of M&M’s has announced it is interested in acquiring the chewing gum company Wm. Wrigley Jr. Company for about $23 Billion. Warren Buffett seems to be joining hands with Mars to make the later America’s gaint food company.
Wm. Wrigley Jr. Company (Public, NYSE:WWY) closed the day at 76.91 up by +14.46 (23.15%). The script has a P/E of 33.77
Meanwhile, the Asian markets opened the Tuesday morning in the red. All Ordinaries is down 3.5 points. Straits Times, Seoul Composite and Taiwan Weighted too are marginally in red. The oil prices are the most watched after its price touched near $120 a barrel.
1 U.S. dollar = 104.101603 Japanese yen
1 U.S. dollar = 40.0496616 Indian rupees
April 29th, 2008
The stock markets had a relatively quiet monday morning. The NSE Nifty closed below the 5100 level at 5089.65 losing 0.43%. The BSE Sensex lost 110.02 points and closed at 17,015.96. Profit book is seen across the board with market all waiting for the announcement from RBI on April 29.
The IT, Oil & Gas, Capital Goods, Metal, Banks, Auto, FMCG and Power sectoral indices in the BSE closed in the red while Consumer Durables, PSU, Health Care and Realty managed to close in green.
Top gainers on Nifty include Reliance Energy, Sun Pharma, Tata Communications, Sterlite, HCL Tech, Unitech, Zee Limited, HDFC Bank, Idea and Reliance Communications. Top Nifty losers include Siemens, Cipla, Suzlon, Tata Steel, ICICI Bank, Maruti, ACC, GAIL, Wipro and Ambuja Cement.
Siemens had a bad monday trade with the script losing 9.81% to close at Rs. 580.90.
April 28th, 2008
India’s leading mobile telecommunications company Bharti Airtel has come up with a set of decent quartely numbers beating market expectations. The company announced a growth of 46% for FY 2008.
Highlights for Full Year ended March 31, 2008
* Overall customer base crosses 6.4 crore.
* Highest ever-net addition of 2.5 crore customers in a year.
* Market leader with a market share of all India wireless subscribers at 23.8%(22.4% last year)
* Total Revenues of Rs. 27,025 crore (up 46% Y-o-Y)
* EBITDA of Rs. 11,372 crore (up 53% Y-o-Y).
* Cash Profit of Rs. 11,137 crore (up 52% Y-o-Y).
* Net Income of Rs. 6,701 crore (up 57% Y-o-Y).
The stock markets have taken the news positive. The stock has just crossed the Rs. 900 mark. Other telecom stocks including rival Reliance Communications and IDEA are trading positive today.
April 25th, 2008
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