Posts filed under 'Buzzing News'
Shares of Electric equipment maker and Capital goods major Crompton Greaves tumbled down largely yesterday and today that the stock lost immense value. The tumbling down of the share price was in double digit percentage points during these two days. The share price is now at Rs. 176.95 after losing Rs. 30.70 in todays session. The stock is down 14.78% on the BSE today.
So, this allows us to peep inside and dig some details about the script. Some say that there are few problems with the stock.
Firstly, the well-known fact that the net profit fell by 58.6% during April – June 2011.And from what the company says, it might take two more quarters to recover to its smiling levels.
Secondly, beyond the bad quarter numbers, some section of investors are worrying that the top management lacks confidence in the company. They say this considering that the outgoing MD and non-executive chairman of Avantha Group, S M Trehan, sold 1.8 lakh shares of the company at an average price of Rs. 260 during June 29 – July 1, of course after taking the permission from the company secretary and before the closing of the trading window. Trehan says he has acquired the shares 11 years ago and being not shares-savvy, he has exited them, having retired from the company. However some section of investors say this is a potential insider trading case and there are some governance issues behind this.
Many brokerage firms are not comfortable at the developments and are giving a cautious view on the counter. UBS for example, maintains a SELL with a target of Rs. 240. Kotak feels that the results are representing a weak demand environment and not too much of the company. They have a target of Rs. 310. HSBC Asset Management Company’s Jitendra Sriram says that once the quarter goes, things will settle. SP Tulsian finds a buying opportunity in the counter. He says the script has a fair value at around Rs. 200.
July 20th, 2011
Booming economy, growing income levels and increased spending trends and lifestyles are all very much visible in India. Needless to say both Domestic and International corporates are very much serious about India. Sectors like the Retail, Telecom and Media & Entertainment will be the first picks considering they are more close to the public compared to others.
Latest news from a business television channel, according to its sources, is that Walt Disney is looking for increasing its presence in India. Walt Disney already has a stake of about 14% in UTV, a well known media house in India and increasing this stake would be logically an easy step. Walt Disney already has bough Hungama TV from UTV sometime back.
With this news, the Indian Media section is all set to get an additional attention.
November 7th, 2007
Rains few days back and now floods. Almost all parts of the country are witnessing the wrath of natural calamities one way or the other. However, the Indian stock markets seems to be busy in its own way. After the choppy trades following global factors and today with the possible rupee moving towards good and ECB norm announcement today, the markets closed in the green. The Sensex managing to stay in the green above the 15K mark.
Of the many listed companies that are dependent of agriculture or agri-related inputs, Balrampur Chini is the one of the first to come out and tell the status of its business will be impact due to the recent natural calamities. The company seems to have told a television channel that the sugar cane crop in Uttar Pradesh is okay and that their production would not be hit, at least, at the moment.
August 8th, 2007
NSE Press Release
The National Stock Exchange of India (NSE) today commenced derivatives trading in two new indices viz. Nifty Junior and CNX100. NSE now has an array of five indices and 186 single stock derivatives to offer for trading to the investors.
Nifty Junior derivatives has CNX Nifty Junior index as its underlying. NIFTY Junior is an index comprising of the most liquid securities after the NIFTY 50. The underlying of CNX 100 index derivative is S&P CNX100. This index combines the Nifty 50 and the CNX Nifty Junior stocks to track the behavior of the combined portfolio of the two indices.
In recent times, the market has shown a trend of getting broad based. Currently non-Nifty securities contribute more than 60% of the total market turnover in equities market. Trading in Nifty Junior and CNX100 Futures & Options would enable the investor to take a view on companies which are fast growing, dynamic and highly competitive. It would help them to take an exposure to this dynamic pack of companies. The introduction of these new index derivatives would give more flexibility to the investors and help them in taking wealth maximizing decisions more efficiently.
To encourage active participation during the introduction phase, the Exchange has exempted the transaction charges on turnover above Rs.10 Crores in NIFTY Junior and above Rs.10 Crores in CNX100 per trading member per day in the Futures sub – segment. No transaction charge will be levied on trades done in NIFTY Junior and CNX 100 in the Options sub-segment.
There has been active and wide spread participation in trading above indices today at NSE. More than 200 members participated in trading on the first day of trading today.
June 1st, 2007
A leading business media says that Ranbaxy opts out of Merck’s Generics business bidding. Ranbaxy is last Indian company in the race to pull out of the race. It is believed that the reason for opting out of the race, as per the media channel, is that the valuations have stretched a bit. Earlier Dr. Reddy’s opted to come out of the bidding.
Ranbaxy Laboratories Ltd opened at 318.90 and is currently trading at 324.00 (+2.22%)
March 20th, 2007
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