Archive for November, 2009
The series closing day added that triggered selling and profit booking in the Indian stock markets has added fuel to fire to drag the stock price of Tata Steel (BSE: 500470; NSE: TATASTEE; ISIN: INE081A01012) that reported a rather weak quarter result today. The company reported Q2 net loss of Rs 2700 crores as against to Rs 2,208 QoQ. The sales numbers are up by 9% and are at Rs 25,269 crore.
The steel maker said it is working on restructuring debt. The company has US$ 2.2 billion as cash in hand while its gross debt stands at US$ 12.8 billion. Tata Steel India’s turnover rose by 1% to Rs. 5,692 crores. On the other hand, the turnover stood at Tata Steel Europe rose by 10% to Rs. 16,768 crores.
Tata Steel opened at Rs. 560.00 on the BSE this morning, touched an intraday high of 567.95 and an intraday low of 529.15 before closing 543.45 down by 18.75 or 3.34%.
November 26th, 2009
The Information Technology has seen many ups and downs which are mostly to do with the global economic conditions and the reduced sending of the US corporate. But with things getting better and the large-cap IT stocks having already started to see a rebound, it will be a good time to take a look at the midcap IT section too. And needless to say, Mindtree (BOM:532819)(NSE: MINDTREE)(ISIN Code: INE018I01017) is one of the most favorite amongst Indian midcap IT stocks.
Analysts feel that the calendar year 2010 will see IT spending to gain momentum and Mindtree appears to be well placed to make the best of the situation. Its recent deal wins, one from a large US financial institution and another from a global FMCG giant, are an example as to how swiftly Mindtree gets projects. Improvements in bottom line and operating leverage are expected to help the company to report better profits going forward.
On the BSE, Midtree is currently trading at 636.00 levels. Its 52-week high is at 663.00 (November 18, 2009) and 52-week low is at 187.10 (March 13, 2009). Analysts feel the script can be targeted for Rs. 700.
November 20th, 2009
Bharti AXA Mutual Fund has filed the draft offer documents before SEBI. The documents are now put on SEBI Website on November 17, 2009 for public to offer their comments on the adequacy of disclosures in the draft offer documents. The Bharti AXA Large Cap Fund will be an open-ended equity scheme.
Investment Objective
Investment objective is to generate long-term capital growth from a diversified portfolio of equity and equity-related securities in the large cap universe
The Scheme is not providing any assured or guaranteed returns. Further, there can be no assurance that the investment objectives of the scheme will be realized
Investment Options
The scheme offers three investment options:
1. Growth Option for capital appreciation
2. Quarterly Dividend Option offering Dividend Re-investment and Dividend Pay-out facilities
3. Regular Dividend Option offering Dividend Re-investment and Dividend Pay-out facilities
S&P CNX Nifty Index will be taken as the Benchmark.
Load Structure
Entry Load: Not Applicable
Exit Load: 1% if redeemed within 1 year from the date of allotment
Daily and Monthly SIP/STP options are available
November 20th, 2009