tag:blogger.com,1999:blog-24473832015881933362024-02-20T00:16:18.407-08:00Equity/Derivatives/Commodities Markets ResearchThis blog is created by Riken Mehta, Research Analyst who tracks Indian equities, derivatives and commodities.Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.comBlogger163125tag:blogger.com,1999:blog-2447383201588193336.post-33992953272600244432017-03-20T02:16:00.000-07:002017-03-23T02:19:10.155-07:00Sensex near all-time high: Does the rally have any more steam?<div dir="ltr" style="text-align: left;" trbidi="on">
BSE Sensex, the Indian benchmark index, inched close to record high
levels (30,000) the past week after the incumbent BJP government emerged
victorious in the largest state election of 2017. That Prime Minister
Narendra Modi will secure a second term in 2019 now seems like a
foregone conclusion, especially on the backdrop of this emphatic win.<br />
<br />
Investors and traders cheered the as-is and anticipated political
stability by pushing the benchmark indices close to the record high
levels last seen in March 2015.<br />
<br />
<strong>New High Low Index </strong><br />
<br />
New High Low Index (NHLI), as the name suggests, takes into account
the number of stocks touching new yearly highs and lows on a trading day
on BSE. The formula used for calculation the same is:<br />
<br />
<strong>New High Low Index = Number of stocks touching new highs / (Number of stocks touching new highs + new lows) </strong><br />
<br />
After back-testing data since 2006, every time the Sensex makes a
peak after a strong bull rally, the NHLI level surges to over 80% level
for few days. Furthermore, the number of stocks hitting new yearly highs
are more than 250 stocks on an average.<br />
<br />
In the current rally, the NHLI is sub-70%. As seen in the diagram
below, the NHLI is trending downwards in the ongoing rally while the BSE
Sensex is trending upwards close to record levels. Additionally, the
number of stocks hitting fresh 52-week highs has barely surpassed 150 in
this entire rally. The technicals, hence, suggest that the much
spoken-about market euphoria is still missing from the market. But this
is a positive for traders and investors, as the market hasn’t peaked
just yet and still has some cylinders to fire.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0GdRfOe9qZS_VuOqQ277XbAUoB3-5G3jHraMM9Lcz1HcRs6JqOsWr737xZ6ZQiZeWPc7NDFrm3T3uPINCAWds0KpDWIq0JwZumoBPQftI1ftJT_mAhH4KVWAFXRXFLsUiUKuCg9wUBiw/s1600/BSE+Sensex+vs+New+High+Low+Index.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0GdRfOe9qZS_VuOqQ277XbAUoB3-5G3jHraMM9Lcz1HcRs6JqOsWr737xZ6ZQiZeWPc7NDFrm3T3uPINCAWds0KpDWIq0JwZumoBPQftI1ftJT_mAhH4KVWAFXRXFLsUiUKuCg9wUBiw/s1600/BSE+Sensex+vs+New+High+Low+Index.png" /></a></div>
<br />
<br />
<strong>Advance-decline ratio </strong><br />
<br />
The breadth of a market, or its advance-decline ratio (ADR), is one
of the best indicators used to measure the strength of a bull or bear
rally. The ratio measures the total number of stocks advancing to the
total number of stocks declining in the market.<br />
<br />
In a bull market, when the Sensex is close to its peak, the ADR is
above 2.5. However, in the current rally, the ADR is struggling to stay
above 1.<br />
<br />
Both these data points signal that retail participation is
significantly missing from the market. When retail investors invest
heavily in the market, putting all their money in stocks expecting it to
touch new highs daily, it is a signal that the market is likely to peak
out. Currently, the general mood among retail investors is that of
caution and they continue to wait on the sidelines awaiting a
significant correction to enter the market.<br />
<br />
-Riken Mehta<br />
<br />
</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com2tag:blogger.com,1999:blog-2447383201588193336.post-28636129597599191472015-02-28T02:21:00.000-08:002016-02-23T02:23:17.878-08:00Budget 2015: Smaller Speech, Bigger Vision!<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<img alt="" class="wp-image-452 size-medium" height="300" src="https://heckyl.files.wordpress.com/2015/03/et_cover-page-440x622-copy.gif?w=213&h=300" title="Download Heckyl's Budget ebook" width="213" /> <br />
<br />
Smaller speech, bigger vision. This is the summary of Modi government’s first full year budget. Finance Minister kept his speech much shorter and meaningful this year compared to his last year’s budget speech where he said too much but of little use<br />
<br />
Arun Jaitley may not have touched upon specific industry or sectors in his latest speech but laid a foundation or stepping stone for the future to unleash India Inc. Jaitley proposed numerous measures related to tax issues, ease of doing business in India, promote start-ups and SMEs, laws to curtail black money, additional funds for infrastructure and extension of social security benefits to the poor people of the country.<br />
<br />
For common man, the Finance Minister delivered some goodies but not enough to rejoice them. Direct tax benefits like Increase in medical reimbursements, hike in limit under Section 80CCD by Rs 50000 and higher exemptions on travel allowance will partly get offset by increase in service tax rate from 12.36 percent to 14.28 percent. For corporates, the budget had a long-term vision. While the gross corporate taxes will go up this year due to increase in surcharge on corporate and individual taxes, the Finance Minister soothed India Inc with reduction in corporate tax rates from 30 percent to 25 percent with effect from FY16-17. This was one of the prime features of this budget – a step in the right direction of Modi’s Make In India vision. Setting up a fund to promote start-ups and easy credit for Medium and Small Medium Enterprises will add fuel to the country’s growth engine and creation of jobs in the longer term.<br />
<br />
Infrastructure has always remained as one of the top agendas for India. With very little room for spending, FM launched a new fund for investment in infrastructure along with measures to raise money from tax free bonds for road, rail and irrigation projects.<br />
<br />
In its constant endeavor to decode markets for retail investors, Heckyl prepared a budget e-book “Unleash India Inc” with a 360 degree snapshot of the budget and research views from some of India’s leading broking houses. It covers Budget Impact on market, stocks, sectors, common man’s wallet and India Inc’s businesses. The e-book also summarizes rail budget and economic survey. The e-book concludes with the verdict of the key brokerages views on Budget 2015.<br />
<br />
<span style="color: black;"><a href="http://blog.heckyl.com/2015/03/02/budget-2015-smaller-speech-bigger-vision/" target="_blank"><b>Download Heckyl’s Budget ebook</b></a></span></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-17613792321817789172014-11-13T21:46:00.000-08:002014-12-14T08:10:00.070-08:00Chart check: Will Nifty face resistance around 8400? <div dir="ltr" style="text-align: left;" trbidi="on">
<b>Riken Mehta</b><br />
<br />
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b> <br />
<br />
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<br />
<div class="MsoNormal">
The benchmark index Nifty is hitting fresh all-time highs cheering
lower commodity prices and expectation of policy rate cut boosting the credit
growth cycle in the coming quarters. Rising dollar index is a worrisome sign
but excessive liquidity thanks to Bank of Japan’s massive bond buying program is
pushing equities higher across the globe. FIIs have pumped in close to 2
billion dollars in the last 20 days keeping rupee in the range of 60-62 against
the greenback</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As seen from the chart, the Nifty has been moving in a
channel since the historic election outcome in May. The Nifty gave false
breakouts since then one on the upside in September followed by other on the downside
last month. Currently, the Nifty has again broken on the upside moving out of
the channel. However, only time will tell whether it is a false breakout and the
Nifty will move back in the channel or it has more room to move higher.</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidTPWh3kiTHhepRaSUrLI9uGc0Dkz0znHMhy-eqqJsKcoJtTBxud9GZl8xc8uXgiRLespA8FvJfDf4BvLQM5kgegodHaw680TJ59rcgSoKu4I1SW34sJHar4gEEfIEzTj9K1OHJVWI-zM/s1600/Nifty+chart.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidTPWh3kiTHhepRaSUrLI9uGc0Dkz0znHMhy-eqqJsKcoJtTBxud9GZl8xc8uXgiRLespA8FvJfDf4BvLQM5kgegodHaw680TJ59rcgSoKu4I1SW34sJHar4gEEfIEzTj9K1OHJVWI-zM/s640/Nifty+chart.PNG" width="640" /></a></div>
<div class="MsoNormal">
<br />
December 14, 2014<br />
<br />
The Nifty did breakout and manage to stay above 8400 for few days and touch a record high of 8626. However, selling pressure emerged at higher levels and the Nifty moved back inside the trading band only to prove to be another false breakout. <br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjszFeiWhjd4MKha5xK6GCPl6cnNvzBsvzfWzZI8BHCwjoaCcwt_nkBXAskNRVMmU0B87PKuptHFa3_eZNxFCuMTCjAqI9K7ByT5R_gPyEB4MzeN7Pkt4-9XCs8bBnzmxRhLFzmQV4h3Qg/s1600/Nifty+chart.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjszFeiWhjd4MKha5xK6GCPl6cnNvzBsvzfWzZI8BHCwjoaCcwt_nkBXAskNRVMmU0B87PKuptHFa3_eZNxFCuMTCjAqI9K7ByT5R_gPyEB4MzeN7Pkt4-9XCs8bBnzmxRhLFzmQV4h3Qg/s1600/Nifty+chart.png" height="358" width="640" /></a></div>
<br /></div>
</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com3tag:blogger.com,1999:blog-2447383201588193336.post-65834015962595694712014-09-30T01:24:00.000-07:002014-10-02T13:53:43.693-07:00Corn Prices at 5-year low; Sukhjit Starch to benefit<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><b>Riken Mehta</b> </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><b><br /></b></span></span>
<br />
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<div>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><br /></b></b></b></div>
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br /></span>
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Corn prices have witnessed a roller-coaster ride in last 2 years. After hitting a record high of USD 842.38 per bushel in August 2012, US corn future prices have plunged more than 60 percent to hit a fresh five year low this month. Record prices in 2012 lured farmers to harvest more corn in the following years thereby resulting in record output this year. As supply outpaced demand, prices fell forcing farmers to sell crops at lower rates. Eventually farmers will start looking for other crops to harvest where yields are better than corn. This is a typical commodity cycle which happens in several agri crops.</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br /></span>
<br />
<div class="separator" style="clear: both; text-align: center;">
<span style="font-family: Arial,Helvetica,sans-serif;"></span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDGnVQB1BR0GcIuBOoTNAsH5KGO1McstKUWWDVGaySNtwxgmgiP-fEqNWC81HdvO104p4gu0QPZaba0SYOKxk-yY5FUS6VGnzAaEsE5AfJ6gnGctWJiVYy8bnckcvTSiBl3lSASu7gvbY/s1600/Corn+Prices.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDGnVQB1BR0GcIuBOoTNAsH5KGO1McstKUWWDVGaySNtwxgmgiP-fEqNWC81HdvO104p4gu0QPZaba0SYOKxk-yY5FUS6VGnzAaEsE5AfJ6gnGctWJiVYy8bnckcvTSiBl3lSASu7gvbY/s1600/Corn+Prices.PNG" /></a></div>
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br /><br />Sukhjit Starch, a Punjab based company is likely to benefit from lower corn prices. The company is one of the largest producers of maize starch, corn-based biochemical products and corn-syrups. As seen from the chart, maize prices shot up in second half of 2012 and company’s margins came under pressure for the next four quarters (Dec-12 to Sep-13). The correction in corn prices led to rebound in margins as raw material cost of percentage to total sales began to moderate. </span></span><br />
<div class="separator" style="clear: both; text-align: center;">
<span style="font-family: Arial,Helvetica,sans-serif;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8ciJtu1kJU4z-ZRI4qq-hgSvERlWZW7mZf7ekM67YDnMLxcKsUP6aOleG8WgYuyD5FlHDoOvGPFILsSAGsDOj3UWDiR21yxfcDbbYzwzkgjokMejn7v6auzhChRQLDMc3o5kQTwJXCCc/s1600/Sukhjit.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8ciJtu1kJU4z-ZRI4qq-hgSvERlWZW7mZf7ekM67YDnMLxcKsUP6aOleG8WgYuyD5FlHDoOvGPFILsSAGsDOj3UWDiR21yxfcDbbYzwzkgjokMejn7v6auzhChRQLDMc3o5kQTwJXCCc/s1600/Sukhjit.PNG" /></a></span></div>
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br /></span></span></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com2Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-59893843272567098542014-09-25T23:54:00.001-07:002014-10-02T13:54:16.181-07:00Rising dollex spells bad news for Nifty<div dir="ltr" style="text-align: left;" trbidi="on">
<b> </b><img src="http://www.moneycontrol.com/news_image_files/2014/356x200/d/dollars-356_3506_356.jpg" /><br />
<br />
<b>Riken Mehta</b><br />
<br />
<br />
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<div>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><br /></b></b></b></div>
<br />
The
US dollar index is trading at four-year high surpassing 85 levels on
the upside on Thursday. The dollar index tracks greenback movement
against six other major currencies. The current rally in dollar index is
sparked by faster US economic growth pushing the US Federal Reserve
closer to raise interest rates while the slowdown in Europe and Japan
has forced central bankers to increase stimulus and boost liquidity.<br />
<br />
As
seen from the chart, the Nifty has negative correlation with the dollar
index. Indian equity market banks heavily on foreign fund inflows and
strength in US dollar index would accentuate selling in equities by
FIIs.<br />
<br />
The Indian rupee closed at 7-week low in trade on Thursday.
FIIs have sold shares worth close to Rs 3000 crore in last three days.
It would be premature to say that a deeper correction is underway but
one should keep a close look at dollar index before starting
bottom-fishing in the market.<br />
<img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2014/d/DollarIndex3.png" src="http://www.moneycontrol.com/news_image_files/2014/d/DollarIndex3.png" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-57068810626415537072014-09-11T22:55:00.000-07:002014-09-20T22:57:51.362-07:00Chart of the day: Brent crude Vs Nifty in past 3 years<div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2013/356x200/c/Crude_Oil_0709_356.jpg" /><br />
<br />
<b>Riken Mehta</b><br />
<b>Moneycontrol.com</b><br />
<b><br /></b><b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
The price of Brent crude fell below the USD 100 a barrel mark for the first time since June 2013 on Monday as data from China and the US pointed to slower economic growth in the world’s largest oil consumers.<br />
<br />
Investors have driven global prices down 15 percent from mid-June highs as fears about a supply disruption in Iraq or elsewhere faded and concerns about weak global demand grew. This has given more legs to the extended bull run in Indian equities.<br />
<br />
While crude prices came off, foreign institutional investors pumped in a net of Rs 1,162 crore into Indian equities, which is expected to help the Central government and the Reserve Bank of India to rein in fiscal deficit and inflation.<br />
<br />
<img src="http://www.moneycontrol.com/news_image_files/2014/c/crude.PNG" /><br />
<br /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-62733180589379783562014-06-09T04:22:00.002-07:002014-06-09T10:15:38.089-07:00BSE Sensex at new highs: What are market internals suggesting?<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Riken Mehta</b><br /><i>money<b>control.com</b></i></span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b><b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b> </b></i></span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Indian
stocks are trading at all-time high levels in anticipation of GDP
growth picking up and that corporate earnings may have bottomed out. Can
this rally sustain? Let us look at key indicators if there is still
steam left.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Breadth of the market</b></span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The
breadth of the market is one of the indicators used to gauge the
strength of the rally. Advance Decline ratio measures the number of
stocks advancing to the number of stocks declining in the market. As
seen from the chart the advance-decline ratio is rising with the rally
in Sensex which is a good sign. Traders should look for any divergence
in the pattern with respect to Sensex movement in future which may
suggest that the market is likely to peak out.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chart: Sensex (Left Axis), Advance Decline Ratio (ADR) (Right Axis)</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2014/s/SensexADR.PNG" src="http://www.moneycontrol.com/news_image_files/2014/s/SensexADR.PNG" /></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b><br /></b></span>
<span style="font-family: Arial,Helvetica,sans-serif;"><b>New High Low Index</b></span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">New
High Low Index takes into account the number of stocks touching new
yearly highs and lows on a trading day. The rising index along with the
uptrend in Sensex suggests a powerful rally. The index is moving higher
as Sensex scales new high signaling more stocks are hitting new 52-week
highs with a broader participation of stocks in the market.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">New High Low Index = <span data-mce-style="text-decoration: underline;"><u>Number of stocks touching new
highs
</u></span>
<span style="mso-spacerun: yes;"> </span>(Number of stocks touching new
highs + new lows) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Chart: Sensex (Left Axis), New High Low Index (Right Axis)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2014/s/SensexHighLowindex.PNG" src="http://www.moneycontrol.com/news_image_files/2014/s/SensexHighLowindex.PNG" /></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: small;">Sentiment
Index</span></b></span></div>
<span style="font-family: Arial,Helvetica,sans-serif;">
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<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Sentiment suggests the mood of the traders and investors in the
market. There are two groups of people in the market- Informed and uninformed
investors (retail investors). <span style="mso-spacerun: yes;"> </span>Informed
investors invest when <span class="250074211-07062014">market is trading at lower
levels, </span>sentiment is pessimistic and uniformed investors are bearish on
the market and opt to invest in fixed deposits. When retail investors invest
heavily in the market putting all the money in stocks and expect the market to
touch new highs every day is a signal that market is likely to peak out.
Unfortunately, no public data is available to measure Sentiment index but the
general mood is retail investors are currently still cautious and not invested
heavily in the market<span class="250074211-07062014"> so far</span>. Another good
sign!</span></span></div>
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Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com1Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-17612340298476819492014-06-06T05:09:00.000-07:002014-06-09T04:26:08.875-07:00Robust demand for 3D to continue in FY15: Prime Focus<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP4AE1bIqvKpTvZdij-AP1icBZp5zEWECwnpeNcehK4NX-eyZKRxGMyLFqm9J62pippA6oGKbykLTdmlcVIXc2yhQ41WEbzVPR9_x71pRuoJuentlzPG5mTaDhqQ-7T36A20M_rpfLxEo/s1600/EdgeSlider2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP4AE1bIqvKpTvZdij-AP1icBZp5zEWECwnpeNcehK4NX-eyZKRxGMyLFqm9J62pippA6oGKbykLTdmlcVIXc2yhQ41WEbzVPR9_x71pRuoJuentlzPG5mTaDhqQ-7T36A20M_rpfLxEo/s1600/EdgeSlider2.jpg" height="200" width="640" /></a></div>
<br />
<b></b><br />
<b>Riken Mehta</b><br />
<i>money<b>control.com</b></i><br />
<br />
<b><br /></b>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
<br />
<a data-mce-href="http://www.moneycontrol.com/india/stockpricequote/mediaentertainment/primefocus/PF13" href="http://www.moneycontrol.com/india/stockpricequote/mediaentertainment/primefocus/PF13">Prime Focus Limited</a>,
a leading player in visual graphics and animation reported consolidated
net sales of Rs 235.51 crore in the fourth quarter of FY14 over Rs
196.90 crore, a year ago. The company reported net loss of Rs 8.38 crore
in this quarter. The profitability was impacted due to an unrealized
quarterly loss on foreign exchange and a non-cash Deferred Tax charge of
Rs 7.27 crore. The operating margins of the company improved from 7.51
percent last year to 11.21 percent in this quarter. <br />
<br />
Prime Focus
recorded consolidated annual net sales of Rs 833.72 crore, a jump of
9.32 percent compared to Rs 762.16 crore, a year ago. The company’s
bottomline turned profitable in FY14 with profits of Rs 32.96 crore
compared to loss of Rs 20.31 crore. <br />
<br />
In an exclusive interview with moneycontrol.com, <i><b>Vikas Rathee, Group COO, Prime Focus Limited</b> </i>said
the resurgence in demand for 3D to continue into FY15. He is hopeful of
achieving robust revenue growth rates in FY15. He expects interest cost
to come down in the coming quarters on the back of closure of the
backend and cheaper dollar financing. <br />
<br />
Here is an edited transcript of the interview. <br />
<br />
<i><b>Q. Could you brief us about Q4 FY13 performance? How do you see your performance for the coming quarter? </b></i><br />
<br />
Prime
Focus posted healthy growth in top-line in Q4 (20%), which was
bolstered with 2 big Hollywood films Noah and The Amazing Spiderman 2.
Due to a one time increase in costs, there was a dip in margins for Q4.
Profitability has also been impacted due to an unrealized quarterly loss
on foreign exchange and a non-cash Deferred Tax charge of Rs 7.27
crore. We expect the margins to return to earlier levels in the coming
quarters on the back of cost appropriation over various projects and
realization of benefits of working on VFX projects out of India.<br />
<br />
<i><b>Q.
The company has posted a revenue growth of 20.17%. Can you tell us how
much revenue contribution came from new businesses? How do you see
revenue growth going forward along with PAT and margins guidance? </b></i><br />
<br />
Share
of Revenues from new businesses has increased from 69% to 79% in FY14.
We expect the resurgence in demand for 3D to continue into FY15. Our key
focus is also to continue to increase the share of VFX in our total
revenues for FY15. We believe our capex phase is behind us. Overall, we
expect stable growth in demand for our creative services business and we
expect to increase our market share.<br />
PFT (Prime Focus
Technologies) continues to grow at a rapid pace in 12M FY14, where it
grew 100% year on year. We continue to add new customers as well as get
more demand for our products and services from existing customers. PFT
has also expanded inorganically with DAX in the US and the initial
progress since closing has been very promising – we see significant
opportunity for PFT in the largest media market globally. Although it is
difficult for us to project similar growth rates from such a high base,
we feel we should again expect very robust growth in revenues from this
segment in FY15 as well.<br />
<br />
<i><b>Q. Employee cost and other
expenses were significantly higher in this quarter. Was there a wage
hike in this quarter? Tax component was also high. Brief us on the same.
</b></i><br />
<br />
We used Q4 as a quarter to bolster our capacity
in VFX, which led to a one time increase in headcount in Q4, which
should stabilize again post release of Sin City 2. Both PFT and Prime
Focus Limited on a stand-alone basis had strong PBT and as such taxes
are a reality. However, the Tax component contained a non-cash deferred
tax charge of Rs.72.7mn for the quarter, which is the tax benefit we are
getting due to the loss we incurred last year due to the redemption of
the FCCBs. We will continue to monetize this benefit in FY15 as well.<br />
<br />
<i><b>Q. What was the total debt at the end of FY14? Will the interest cost come down in the coming quarters? </b></i><br />
<br />
We
have managed to stabilize the debt levels in the Company. Our total
debt as of 31st March, 2014 is Rs 800 crore, which includes the Rs 45
crore of the OCD raise which was completed on 31st March itself, i.e.
was reflected in our Cash balances as well. What is important to note is
that we continue to shift the debt towards Buyers Credit and Financial
Leases structures, which are a lot less onerous and cheaper sources of
financing capex for the company.<br />
<br />
Of the total debt, Rs 92 crore is
towards Property loans, which are on the back of the key delivery
centers owned by the Company in LA and Mumbai in relation to our
Creative Services business, together currently valued at over Rs 200
crore. This also includes the NCD issued to Standard Chartered Private
Equity in the parent Prime Focus Limited, including its accrued
Redemption Premium value, totaling at Rs.228.3 crore as on 31st March
2014.<br />
<br />
We continue to focus on leveraging our foreign company
balance sheets to source cheaper financing for the overseas operations.
You would notice a good reduction in our average interest rates and we
feel we should continue to see a decline in our interest costs as we
move forward, on the back of closure of the backend and cheaper dollar
financing.<br />
<br />
<i><b>Q. Give us a brief idea on how much money will be used to retire debt and working capital from Rs 45 crore fund raising plans? </b></i><br />
<br />
Of
the total OCD raise, 25%-30% would be used to retire debt, while the
balance would be used to fuel the growth of PFT’s international
business.<br />
<br />
<i><b>Q. Which are the upcoming movies in this quarter and next? </b></i><br />
<br />
Our
list kicked off on May 30 with the release of Walt Disney Pictures
Maleficent, from director Robert Stromberg, and continues next week with
the amazing Edge of Tomorrow from Doug Liman / Warner Bros. Pictures,
which releases in the US on June 6<br />
<br />
Unfortunately we can't mention
all the films we're working on yet, but here's a few that we're really
excited about: Maleficent, Edge of Tomorrow, Transformers: Age of
Extinction, Earth To Echo, Hercules, Into The Storm, The Expendables 3,
Sin City: A Dame To Kill For, The Interview, Kingman: The Secret Service<br />
<br />
<i><b>Q.
Your subsidiary Prime Focus Technologies (PFT) recently acquired a US
firm, by when do you think it will reflect in your performance? </b></i><br />
<br />
PFT’s
DAX acquisition was effective 1st April, 2014, hence DAX’s contribution
will start reflecting from Quarter April to June 2014 onwards. We are
very optimistic about PFT’s US operations contributing in a significant
manner to the numbers over the next couple of years.<br />
<br />
<i><b>Q.
Your technology subsidiary – PFT has seen a steady growth over the
years, can you elaborate on how the business has been in the last
quarter? </b></i><br />
<br />
PFT has grown its revenue, really doubled
its revenue over last year FY14 once again. We think it is because of
two key factors - increased adoption of our cloud-based Media ERP
technology platform, CLEAR and of course introduction of new products
and services. Some significant wins we have had this quarter - one of
the largest South African broadcast networks have adopted CLEAR and
CLEAR-based media services. We also added additional services for BCCI
(Board of Control for Cricket in India) as a big sports client. We have
had interesting wins from a very large multichannel network which is
using us now for a significant part of their content publishing.<br />
<br />
The
second big activity for us is digital. One, we have developed our own
business to business to consumer (B2B2C) platform, the OTT platform, for
example where we are delivering IPL (Indian Premier League) and all the
multiple sports on Starsports.com, which has quickly become the leading
web-based multi-sport OTT platform in India and globally. We have also
started digital play-outs and again given all the excitement in digital,
we have sort of started a brand new activity of actually doing digital
play-outs. We already are laying out over 20 channels now. We are now a
YouTube certified partner.<br />
<br />
We also announced the acquisition of a
company called DAX and that is again an important milestone in the
lifecycle of PFT. This is a company that has a cloud based platform that
is being used by all the leading studios that are producing content in
Hollywood and we saw a team that had uniquely similar blend of media and
IT skills. Through DAX we also got access to key customers in the US
such as Warner Bros. Television, CBS Television, Fox Television,
Lionsgate, Legendary, Starz Entertainment and Showtime. We feel it has
been a very satisfactory quarter and even better year for PFT, and we
continue to make rapid strides in the global market.<br />
<br />
<i><b>Q. Are there any new markets that you will look at for your VFX, 3D conversion business? </b></i><br />
<br />
On
the VFX and also in 3D we have made rapid strides and there is good
momentum on the back of the success of blockbuster Hollywood movies such
as Gravity, Noah, The Amazing Spiderman 2, etc. with a number of
upcoming high profile releases such as Maleficent, Edge Of Tomorrow,
Transformers and Sin City 2 as I mentioned earlier. We see good momentum
across both these fronts in FY15 and we will surely leverage this
momentum to capitalize on growth opportunities. We have recently started
addressing the China market via a JV. We recently did work on our first
contract in China for 3D conversion for a film called Iceman 3D and
continue to make rapid strides to increase our market share in China. <br />
<br />
<i><b>Q. Could you brief us about expansion and capex plans for the coming years?</b> </i><br />
<br />
We
feel we are done with all the expansion and bulky capex that we have
incurred in bringing up our business to the level it is today. The
benefits of the investments should accrue for us over the next several
years. We do not foresee any major capex for the coming years as we hope
to now consolidate our global offering across the various businesses.<br />
<br />
<i><b>Q. How do you see the overall industry outlook for the next one year?</b> </i><br />
<br />
We
expect the Industry to remain buoyant. VFX in Hollywood is an evergreen
segment, which continues to grow each year with audiences at large
preferring to see more of sci-fi and animated films over dramas or
live-action. 3D had flattened for a couple of years before Gravity
happened, which has again led to a resurgence in the demand for 3D,
especially in Asia.<br />
The market for Media ERP type of solutions is
still in its infancy stage. Broadcasters face many challenges today like
flat revenues, rising operating costs and a new set of customers -
highly demanding digital consumers. Virtualizing content supply chain
operations, driving efficiencies and media process outsourcing are
increasingly becoming their top priority. PFT’s CLEAR Media ERP
technology and cloud-enabled services are helping content enterprises do
more with less. We are happy to be riding the early growth wave in this
segment with huge potential.</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-8135153294460796052014-05-27T21:52:00.000-07:002014-05-27T21:54:10.331-07:00Chart of the day: Cash market turnover is steadily increasing<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Riken Mehta</b><br />
<b>Moneycontrol.com</b><br />
<b><br /></b>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
May
is turning out to be a good month for stock brokers, with daily average
cash market turnover (both exchanges combined) touching Rs 25,000
crore. This is the highest in five years, and offers some relief for
broking firms, which have been grappling with low volumes for some time
now. While total traded turnover on the bourses (cash + derivatives)
has grown over four-fold in the last five years, much of the rise has
been driven by increased activity in options contracts, where brokerage
charges are a fraction of cash market transactions.<br />
<br />
Till mid-2009,
cash market turnover would track the rise and fall in benchmark
indices. But things changed from 2010 onwards, with cash market turnover
falling for extended periods even as benchmark indices were rising.<br />
<br />
The
rise in average daily cash market turnover in May has been sharp.
Between September last year, when the market began rising, till April
this year, average daily turnover ranged between Rs 14,000-17,000 crore.
<br />
<img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2014/t/Turnover2.PNG" src="http://www.moneycontrol.com/news_image_files/2014/t/Turnover2.PNG" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-9016212339704756922014-05-17T07:07:00.002-07:002014-05-17T07:12:58.071-07:00How India grew under various PMs since 1951<div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2014/i/InfoPMs200X200.jpg" /><br />
<br />
<b>Ritesh Presswala, Riken Mehta </b><br />
<b>moneycontrol.com </b><br />
<b><br /></b>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
The verdict is out. BJP has created history and is set to form the government at the Centre for the next five years, replacing the UPA who was at the helm for last 10 years. Narendra Modi is set to become the first prime minister who was born in independent India. This is the third time that BJP will lead the country after Atal Bihari Vajpayee's stint in 1996 and 1998-2004. The Indian economy is grappling with series of problems like poor infrastructure, stalled projects, high inflation and job creation. The GDP growth is now at decade low and the nation expects Narendra Modi to revive it in his term. Let us see how India grew under various Prime Minsters since 1951. <br />
<br />
Graphics by Ganesh Govalkar<br />
<br />
<img src="http://www.moneycontrol.com/news_image_files/2014/g/GDPinfographicsPMs.jpg" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-2170690967614448902014-05-16T06:59:00.000-07:002014-05-17T07:12:41.876-07:00F&O Check: Option buyers book out; IVs halve, premium falls<div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2014/356x200/s/sensex_market_nifty_3559_356.jpg" /><br />
<b><br /></b>
<b>Riken Mehta </b><br />
<b>moneycontrol.com </b><br />
<b><br /></b>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
F&O players had geared themselves for volatility on the day of the election results and took heavy positions in the options market mostly on the long side. A trader or investor bullish on a particular index or stock would buy at the money or out of the money calls to cash in on upside in it.<br />
<br />
Traders bought Nifty out of the money calls earlier this week especially 7200, 7500, 7700 and 8000 calls in anticipation of 5 to 10 percent rally today. The Implied Volatility or IV shot up to as high as 40 levels yesterday on huge positions in calls.<br />
<br />
Nifty rallied to 7500, gain of 400 points on early trends predicting BJP win and the premiums in most of the calls doubled leading to profit booking in out of the money calls. The Nifty is now down 300 points from day’s high and IVS have fallen to sub 25 levels.<br />
<br />
<img src="http://www.moneycontrol.com/news_image_files/2014/o/Options3.PNG" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-4495575773634694422014-05-16T06:49:00.000-07:002014-05-17T07:02:09.890-07:00What to buy if Narendra Modi comes to power?<div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2014/356x200/e/Elections_Polls_Vote_India_BJP_Narendra_Modi_4_16x9_0123_356.jpg" /><br />
<b><br /></b>
<b>Riken Mehta<br />Moneycontrol.com</b><br />
<b><br /></b>
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
The judgement day is here and market is buzzing with various scenarios and probabilities of how many seats will the Modi led BJP and NDA alliance will be able to get in the Loka Sabha elections 2014. While most exit polls predict the formation of NDA led government with majority, markets will react to final numbers today. Prominent brokerage houses are out with their shopping list for investors if Narendra Modi comes to power. The consensus top stock recommendations by brokerages are ICICI Bank, Axis Bank, SBI, L&T, Maruti and Reliance Industries.<br />
<br />
<b>CLSA </b><br />
<br />
CLSA in its note to clients said, “NDA will be able to form the next government without much trouble which will be positive for investment plays like ICICI bank, Axis, SBI and L&T. We expect market to remain in consolidation phase in the short term after election. The next government will have the difficult task of managing inflation, fiscal deficit and weak monsoon,” added CLSA. <br />
<br />
<b>Axis Capital </b><br />
<br />
Axis Capital recommends to buy Maruti, ICICI Bank, SBI, HDFC, L&T, Coal India and Sesa sterlite from the Nifty basket. The broking firm also advises to buy REC, PFC, Shriram transport, JSW Energy, Bajaj Finance, Eicher, Motherson Sumi and LIC Housing finance. Capital raising candidates like Aban Offshore, Adani Power, GMR Infra, GVK Power and Idea cellular are also likely to benefit from it.<br />
<br />
<b>Macquarie </b><br />
<br />
Macquarie expects the market rally to continue and in best case scenario market may see 15-20 percent upside. The brokerage house believes an absolute majority for NDA might lead to PE re-rating to 16-17 multiple from the current level of 14. Top picks are L&T , SBI , Axis bank , IRB and Adani Ports, said Macquarie.<br />
<br />
<b>Bank Of America Merrill Lynch </b><br />
<br />
Bank Of America Merrill Lynch expects another 8% return by year end. The broking house has year end target of 25500 on the Sensex. The growth will gradually recover to 5.4 percent in FY15 and 6.5 percent in FY16, added broking firm. On currency front, the rupee is expected to appreciate to 57 to the dollar. “We prefer high quality cyclicals like Maruti , ICICI bank and reform exposure stocks like ONGC and SBI. In midcaps, we prefer Eicher, Motherson, Yes bank and Aurobindo ,” said BoA-ML in its note.</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-4637566013435805512014-05-02T20:34:00.000-07:002014-05-17T07:01:33.338-07:00CHART: Gold vs Sensex between last Akshaya Tritiya and now<div dir="ltr" style="text-align: left;" trbidi="on">
<b><img alt="" border="0" src="http://www.moneycontrol.com/news_image_files/2014/356x200/g/gold_3235_356.jpg" style="padding: 0px;" /> </b><br />
<br />
<b>Riken Mehta </b><i><br />moneycontrol.com </i><b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;"><br /> </span></b></b></b><br />
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
After outperforming equities a handsome margin in FY13, gold lost much of its ‘safe haven’ sheen last year, and ended up lagging the Sensex. Prospects for the yellow metal, in comparison to equities, do not look too bright this year too. Investors are betting on a global economic recovery later this year. Also, the Fed is expected to reduce the pace of its monthly bond purchases going ahead. This in turn should strengthen the dollar. Should the much anticipated global economic recovery materialize, equities will be the clear favourites.<br />
<br />
<i>Note: Dont use this chart without credits/attribution</i> <br />
<br />
<img align="left" alt="" src="http://www.moneycontrol.com/news_image_files/2014/g/GoldVsSensex.PNG" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-46788129621131699932014-02-22T06:10:00.000-08:002014-02-22T06:12:48.079-08:00OMG! Only 14 listed Indian cos valued higher than WhatsApp <div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2014/356x200/o/oh_my_god_16-9_356x200_2910_356.jpg" /><br />
<br />
<br />
<b>Riken Mehta & Sagar Salvi</b><br />
<br />
How big is the Facebook-Whats App deal? Sample this: Only 14 Indian listed companies are valued more than WhatsApp. These big 14 are: TCS , Reliance , ITC , ONGC , Infosys , Coal India , HDFC Bank , Wipro , Sun Pharma , Tata Motors , HDFC , HUL , Bharti Airtel and ICICI Bank. <br />
<br />
Companies like SBI , NTPC , HCL Tech , Larsen , Cairn India and M&M are valued less than WhatsApp as per Wenesday's closing price. Here's more: WhatsApp has been valued more than combined listed media and retail stocks of India.<br />
<br />
WhatsApp is valued more than some of global corporate giants like: Alcoa (USD 12.2bn), Blackstone Group (USD 17.8bn), The Gap (USD 19bn), Harley-Davidson (USD 14.1bn), Marriott International (USD 15.4bn), Moody’s (USD 17.08bn), News Corp (USD 10.27bn), Nielsen (USD 17.6bn), Tiffany & Co. (USD 11.4bn) and Xerox (USD 13.2bn).*<br />
<br />
(*Source: NASDAQ) <br />
<br />
Social media was abuzz on Thursday, after Facebook Inc announced it will buy fast-growing mobile-messaging startup WhatsApp for USD 19 billion in cash and stock, as the world's largest social network looks for ways to boost its popularity, especially among a younger crowd.<br />
<br />
Facebook said on Wednesday it will pay USD 4 billion in cash and about USD 12 billion in stock in its single largest acquisition, dwarfing the USD 1 billion it paid for photo-sharing app Instagram. As part of the deal, WhatsApp co-founder and Chief Executive Jan Koum will join Facebook's board, and the social network will grant an additional USD 3 billion worth of restricted stock units to WhatsApp's founders, including Koum.<br />
<br />
In event the merger fails to obtain regulatory approval, Facebook has agreed to pay a breakup fee to WhatsApp of USD 1 billion in cash and issue to WhatsApp shares of Facebook Class A common stock equal to another USD 1 billion.<br />
<br />
Some interesting numbers: USD 104 billion Facebook’s valuation at the time of its IPO.<br />
<br />
USD 16 Billion Amount Facebook raised in its IPO.<br />
<br />
USD 25 Billion Twitter’s valuation at the time of its IPO.<br />
<br />
USD 2.1 Billion Amount Twitter raised in its IPO.<br />
<br />
USD 1 Billion Price Facebook paid for Instagram in 2012.<br />
<br />
USD 8 Million Amount of capital invested in WhatsApp in 2011 by Sequoia Capital.<br />
<br />
400,000,000: The number of active users, according to a December blog post from WhatsApp.<br />
<br />
450,000,000: The number of active users, today, according to Facebook’s press release.<br />
<br />
70%: Percentage of users who are active on the app on a daily basis.<br />
<br />
1,000,000: The company says it’s adding more than 1 million new users a day.<br />
<br />
945,000,000: Monthly active users on Facebook, as of Dec. 31.<br />
<br />
230,00,000: Number of daily active users on Twitter.<br />
<br />
50 The number of employees at WhatsApp Five: WhatsApp is the fifth most downloaded app on Android devices.<br />
<br />
Zero: Number of ads that appear on WhatsApp. The service doesn’t sell ads </div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-35212761315248661722014-01-17T06:08:00.000-08:002014-01-18T06:13:51.875-08:00How market-cap of CNX IT stocks moved in last three years <div dir="ltr" style="text-align: left;" trbidi="on">
<img src="http://www.moneycontrol.com/news_image_files/2014/f/fandonew_200.jpg" /><br />
<br />
<b>Riken Mehta</b><br />
<b style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b><br />
<br />
IT stocks have been on a roll for several months now on renewed optimism in the developed economies of US and UK that will lead to more outsourcing of software contracts to Indian IT companies coupled with rupee depreciation. Let's analyse how market-cap of CNX IT companies have moved in last three years.<br />
<br />
Infosys market-cap has surged only 7 percent in last three years as company lagged its peers with slower revenue growth, falling margins, higher attrition rate and reluctance to avoid big ticket acquisitions and sticking to old strategies. TCS market-cap is 115 percent higher compared to Infosys today while the difference was merely 7% in 2011.<br />
<br />
TCS topped Infy as IT bellwether and surprised the street every quarter with its consistent strong performance despite weak macro environment in US and UK in 2011 and 2012.<br />
<br />
HCL Tech has emerged as a dark horse in the entire pack trebling its market-cap in last three years. Improved business strategies, strong leadership, acquisition of higher bracket clients and clocked higher EBIT margins over the years.<br />
<br />
Infosys current market-cap of Rs 214078 crore is less than TCS market-cap in Jan 2011 (Rs 226656 cr). Infosys has not even managed to cross TCS market-cap (in 2011) in last three years. <br />
<br />
TCS current market-cap is more than combined total market-cap of remaining 18 CNX IT stocks (barring Infosys) In 2011, TCS market-cap was 14% higher compared to Infy. Today TCS market-cap is 115% higher compared to Infy.<br />
<br />
Infosys market-cap has surged only 7% in last three years. It has underperformed 14 IT stocks in CNX IT index in last three years.<br />
<br />
The difference of market-cap between Wipro (3rd largest) and HCL Tech (4th largest) was 74% in 2011. Today the gap between two has narrowed to 32%.<br />
<br />
Tech Mahindra 's market-cap was less than that of Mphasis in Jan 2011. Today, Tech Mahindra's market-cap is 5 times that of Mphasis. In 2011, Mphasis was 6th largest company in terms of market-cap and today Tech Mahindra is 5th largest while Mphasis is 7th.<br />
<br />
Tech Mahindra’s market-cap was less than combined market-cap of MindTree , Vakrangee , Hexaware, CMC and KPIT . Today Tech Mahindra’s market-cap has nearly doubled the combined market-cap of MindTree, Vakrangee, Hexaware, CMC and KPIT. <br />
<br />
Vakrangee’s market-cap has surged from Rs 700 cr in (Jan 2011) to Rs 4700 cr (nearly 600%) in last three years. <br />
<br />
In 2011, Vakrangee was not even a part of CNX IT index and today its 10th largest IT stock in terms of market-cap (Top 10 IT stocks). Only 5 CNX IT stocks out of 20 have posted negative returns in last three years. Core Education has lost 91% of its market-cap in last three years. (From midcap it has become smallcap stock)<br />
<br />
<img src="http://www.moneycontrol.com/news_image_files/2014/i/ITm-cap.PNG" /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-51323745214851936062014-01-11T03:33:00.001-08:002014-01-18T06:12:52.874-08:00AAP effect: How sectoral indices have performed post AAP victory<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Riken Mehta</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b></span><br />
<table border="0" cellpadding="0" cellspacing="0" style="width: 244px;"><tbody>
<tr height="30" style="height: 22.5pt;"><td class="xl64" colspan="2" height="30" style="height: 22.5pt; width: 183pt;" width="244"><table border="0" cellpadding="0" cellspacing="0" style="width: 244px;"><tbody>
<tr height="30"><td class="xl65" colspan="2" height="30" style="height: 22.5pt; width: 183pt;" width="244"><span style="font-size: x-large;"><span style="color: #0b5394;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
<table border="0" cellpadding="0" cellspacing="0" style="width: 213px;"><colgroup><col width="213"></col></colgroup><tbody>
<tr height="30">
<td class="xl65" height="30" style="background: white; border-bottom: none; border-left: none; border-right: .5pt solid white; border-top: .5pt solid white; color: #1f497d; font-family: Cambria; font-size: 18.0pt; font-weight: 700; height: 22.5pt; mso-pattern: black none; text-decoration: none; text-line-through: none; text-underline-style: none; width: 160pt;" width="213">THE AAP EFFECT?</td>
</tr>
</tbody></table>
</td></tr>
</tbody></table>
</td><td class="xl64" colspan="2" height="30" style="height: 22.5pt; width: 183pt;" width="244"><br /></td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #4F81BD; border-bottom: 1.5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: white; font-family: Calibri; font-size: 11.0pt; font-weight: 700; height: 15.0pt; mso-pattern: #4F81BD none; text-decoration: none; text-line-through: none; text-underline-style: none;">Index</td>
<td style="background: #4F81BD; border-bottom: 1.5pt solid white; border-left: none; border-right: none; border-top: none; color: white; font-family: Calibri; font-size: 11.0pt; font-weight: 700; mso-pattern: #4F81BD none; text-decoration: none; text-line-through: none; text-underline-style: none;">% Fall since Dec-9</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">Nifty</td>
<td align="right" class="xl63" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-3.02%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">CNX
IT</td>
<td align="right" class="xl63" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">10.20%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
HEALTHCARE</td>
<td align="right" class="xl63" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">7.56%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">Bank
Nifty</td>
<td align="right" class="xl63" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-10.45%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Capital Goods</td>
<td align="right" class="xl63" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-11.19%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Power</td>
<td align="right" class="xl63" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-8.29%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Auto</td>
<td align="right" class="xl63" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-4.09%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Realty</td>
<td align="right" class="xl63" style="background: #DBE5F1; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-3.78%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Oil&Gas</td>
<td align="right" class="xl63" style="background: #B8CCE4; border-bottom: .5pt solid white; border-left: none; border-right: none; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #B8CCE4 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-3.75%</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background: #DBE5F1; border-bottom: none; border-left: none; border-right: .5pt solid white; border-top: none; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; height: 15.0pt; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">BSE
Metal<span style="mso-spacerun: yes;"> </span></td>
<td align="right" class="xl63" style="background: #DBE5F1; color: black; font-family: Calibri; font-size: 11.0pt; font-weight: 400; mso-pattern: #DBE5F1 none; text-decoration: none; text-line-through: none; text-underline-style: none;">-2.43%</td>
</tr>
</tbody></table>
</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-84701621170878853572014-01-11T02:39:00.000-08:002014-01-16T21:08:22.286-08:00The roller-coaster ride of Baltic Dry Index in last 6 months<div dir="ltr" style="text-align: left;" trbidi="on">
<b><span style="font-family: Arial,Helvetica,sans-serif;">Riken Mehta</span></b><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></b> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br /></span>
<div class="MsoNormal">
Baltic Dry index, a barometer of global trade fell 26
percent this week after the new environmental rules implemented by Colombia.
The government halted loading of coal out of the country after US miner
Drummond failed to comply with environmental rules. Colombia is world’s fourth
largest supplier of thermal coal. Baltic Dry index which indicates the daily
charter rate for vessels carrying cargoes of coal, iron ore, and grain lost 11
percent in trade today. This was the steepest intraday fall for the index since
October 2008. The index surged nearly 200 percent in the period June-December
before peaking out around 2330 levels. The index is down 35 percent in last one
month.</div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9O1S6n7k1xmpFLjyENMo8CnxXw_eDN1Uh7aeVpZjj973y4OC6j_mz6CYWEM-esCS8BUA0lhmol_0Le4SK3PpPetBMGdpsA5c22Jgu7mdaPMhroxHCoCxYtJdXGcS_6JLNx5skvxy0Bk0/s1600/BDI.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9O1S6n7k1xmpFLjyENMo8CnxXw_eDN1Uh7aeVpZjj973y4OC6j_mz6CYWEM-esCS8BUA0lhmol_0Le4SK3PpPetBMGdpsA5c22Jgu7mdaPMhroxHCoCxYtJdXGcS_6JLNx5skvxy0Bk0/s1600/BDI.PNG" /></a></div>
<br /></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-15865446845866999952014-01-09T10:08:00.000-08:002014-01-09T10:09:07.723-08:00How Infosys has moved in earnings seasons<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Riken Mehta</b><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></span></b><br />
<b><br /></b>
Check out how Infosys/Infy has moved in earnings seasons<br />
<br />
<span style="font-family: Arial, Helvetica, sans-serif;">Pre-Result rally is rally from start of the month to one day before results</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">Post-Result rally is rally from closing price on result day to end of that month</span><br />
<br />
<div>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 640px;">
<colgroup><col style="mso-width-alt: 3401; mso-width-source: userset; width: 70pt;" width="93"></col>
<col style="mso-width-alt: 7314; mso-width-source: userset; width: 150pt;" width="200"></col>
<col style="mso-width-alt: 5120; mso-width-source: userset; width: 105pt;" width="140"></col>
<col style="mso-width-alt: 7570; mso-width-source: userset; width: 155pt;" width="207"></col>
</colgroup><tbody>
<tr height="28" style="height: 21.0pt;">
<td class="xl66" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 1.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none; width: 70pt;" width="93">Month</td>
<td class="xl69" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 1.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none; width: 150pt;" width="200">Pre-Result Rally</td>
<td class="xl69" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 1.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none; width: 105pt;" width="140">Result Day</td>
<td class="xl69" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 1.5pt; border-style: none none solid; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none; width: 155pt;" width="207">Post-Result Rally</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Jan-12</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">2.13%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-8.43%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">6.09%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Apr-12</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-4.03%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-12.66%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">2.48%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Jul-12</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-1.52%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-8.36%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-1.65%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Oct-12</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-0.07%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-5.44%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-1.35%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Jan-13</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">0.16%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">16.79%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">2.85%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Apr-13</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">0.95%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-21.30%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-2.61%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Jul-13</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">1.18%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">10.91%</td>
<td class="xl70" style="background-color: #b8cce4; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">5.90%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Oct-13</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">3.80%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">4.70%</td>
<td class="xl70" style="background-color: #dbe5f1; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">1.08%</td>
</tr>
<tr height="28" style="height: 21.0pt;">
<td class="xl67" height="28" style="background-color: #4f81bd; border-right-color: white; border-right-width: 0.5pt; border-style: none solid none none; color: white; font-family: Cambria; font-size: 16pt; font-weight: 700; height: 21pt; text-align: center; text-underline-style: none;">Jan-14</td>
<td class="xl70" style="background-color: #b8cce4; border-right-color: white; border-right-width: 0.5pt; border-style: none solid none none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-align: center; text-underline-style: none;">-1.00%</td>
<td class="xl70" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-right-color: white; border-right-width: 0.5pt; border-style: none solid none none; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-underline-style: none;"></td>
<td class="xl70" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; color: #1f497d; font-family: Cambria; font-size: 16pt; font-weight: 700; text-underline-style: none;"></td>
</tr>
</tbody></table>
</div>
</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-54954654575173709672014-01-03T21:23:00.001-08:002014-01-03T21:26:13.731-08:00Chart of the day: Emerging Markets ETF falls 4% in 2 days on heavy volumes<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Riken Mehta</b><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></span></b><br />
<div>
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><br /></b></b></span></b></div>
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Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0tag:blogger.com,1999:blog-2447383201588193336.post-69237469223099896472014-01-03T09:49:00.001-08:002014-01-03T21:25:38.239-08:00Cash volumes continue to dip even as indices climb<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; font-family: Arial, Helvetica, sans-serif; line-height: 12px;"><b>Riken Mehta</b></span><b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;"><br />Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></span></b><br />
<br />
Traded turnover in the cash market is a good indicator of retail participation in the stock market. And looking at the steady decline in cash market volumes since 2009, it is evident that retail investors are yet to regain their appetite for equities. F&O turnover on the NSE has jumped two-and-a-half times, but that is cold comfort even to the stock brokers, since the commission earned on these trades is a fraction of that earned on cash market transactions. 2013 may have been a good year or foreign institutional investors and a handful of market operators, but unless domestic investors (retail as well as mutual funds ) start participating in a big way, a broad-based upmove looks unlikely. <br />
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Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0tag:blogger.com,1999:blog-2447383201588193336.post-13493791500223266832013-12-30T21:53:00.000-08:002013-12-30T21:55:37.210-08:00Recap 2013: How equities, commodities, currencies performed<div dir="ltr" style="text-align: left;" trbidi="on">
<em><strong>Riken Mehta</strong></em><b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;"><br /></span></b></b></span></b><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b><span style="font-size: 12px; line-height: 12px;"> </span></b></span></b><br />
<br />
After nearly a six-year wait, Indian equity benchmarks, the BSE 30-share
Sensex and the NSE 50-share Nifty broke their record highs this year. But
that’s not it; 2013 saw a number of fresh multi-year record lows/highs both on
the macro and investment front.<br />
<br />
Despite FIIs investing USD 20 billion in 2013, the index returns for FIIs in
dollar terms is negative at 3.91 percent primarily due to rupee depreciation.
The year 2013 has been more stock and sector specific with IT, pharma and FMCG
leading the list of winners.<br />
<em><br /></em>
<em>Let’s take a look at how various asset classes fared in the year
2013.</em><br />
<strong><br /></strong>
<strong>Developed markets versus Emerging markets</strong><br />
<br />
As seen from the table, benchmark indices of US, UK and Japan have given
handsome double digit returns so far this year. The momentum in these markets
may continue as major indices of US (barring Nasdaq) and UK (barring CAC) are
trading at life-high. Nikkei is trading close to its 6 year high. Emerging
markets have posted negative or single digit positive returns this year,
underperforming developed markets.<br />
<br />
<strong><img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2013/r/Returns2.PNG" src="http://www.moneycontrol.com/news_image_files/2013/r/Returns2.PNG" /></strong><br />
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<strong><br /></strong><br />
<strong>Commodities</strong><br />
<br />
Gold has posted its biggest annual loss since 1981 as investors shifted their
money from safe haven asset class to risky asset class like equities on the back
of strong economic growth in developed countries. Brent Crude remained in a
narrow band of USD 95-115 per barrel.<br />
<br />
<img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2013/r/Returns3.PNG" src="http://www.moneycontrol.com/news_image_files/2013/r/Returns3.PNG" /><br />
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<strong><br /></strong><br />
<strong>Currencies</strong><br />
<br />
The domestic currencies of the emerging markets depreciated substantially
this year on fears of tapering by the US Federal Reserve. The rupee depreciated
to a record low of 69 levels making it one of the worst performing Asian
currencies this year. Japanese yen on the other hand weakened to a five-year low
on the back of loose monetary policy to spur growth in the economy.<br />
<br />
<img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2013/r/Returns4.PNG" src="http://www.moneycontrol.com/news_image_files/2013/r/Returns4.PNG" /><br />
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<strong>Indian Indices</strong><br />
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<strong><img align="left" alt="" data-mce-src="http://www.moneycontrol.com/news_image_files/2013/r/Returns.PNG" src="http://www.moneycontrol.com/news_image_files/2013/r/Returns.PNG" /></strong></div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-24429915971406256222013-12-27T05:01:00.001-08:002013-12-28T02:46:17.701-08:00Live Market Commentary: Nifty stuck at 6300; TCS, DLF, SBI, Infy top gainers <div dir="ltr" style="text-align: left;" trbidi="on">
<strong></strong><strong><br /></strong>
<b style="background-color: white; font-family: 'Trebuchet MS', Trebuchet, Verdana, sans-serif; font-size: 13px; line-height: 18px;"><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="color: #666666;">Follow me on Twitter </span><span style="color: purple;"><a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b></b></span></b><br />
<strong><br /></strong>
<strong>3:45 pm Market closing: </strong>The market saw a strong performance
with support by banks and IT stocks. The Sensex was up 118.99 points at
21193.58, and the Nifty ended at 6313.80 up 34.90 points. About 1374 shares
have advanced, 1166 shares declined, and 147 shares are unchanged. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers.
However, oil & gas and auto stocks were under selling pressure. Maruti,
Reliance, BHEL and Bajaj Auto were laggards.<br />
<br />
<strong>3:30 pm Buzzing: </strong>Infosys hits record high at Rs 3570, up 1.5
percent intraday on the BSE. However, on the NSE it was just below a record high
of 3,573.00 hit on December 20.<br />
<strong><br /></strong>
<strong>3:20 pm Update: </strong>Questioning the timing of the steep hike in
CNG prices, Arvind Kejriwal today said he will examine whether the increase can
be rolled back after taking charge as Delhi's Chief Minister, reports PTI.<br />
<br />
"What was the need to increase CNG prices when a new government is to take
over in Delhi. It raises suspicions about their intention. I will look at the
files once I take over tomorrow and see if the hike can be rolled back,"
Kejriwal said here.<br />
<br />
The AAP leader will be sworn in as Delhi Chief Minister tomorrow.<br />
<strong><br /></strong>
<strong>3:10 pm Market check:</strong> The Sensex is up 117.34 points at
21191.93, and the Nifty is up 34.00 points at 6312.90. About 1321 shares have
advanced, 1109 shares declined, and 137 shares are unchanged.<br />
TCS is up 3 percent, while other gainers in the Sensex are Cipla, Infosys,
Wipro and HDFC. Among the losers are Reliance, BHEL, Maruti Suzuki, Bajaj Auto
and Hero MotoCorp.<br />
<strong><br /></strong>
<strong>3.00pm: Stocks at 20% upper circuit: </strong>Smallcap stocks like DS
Kulkarni, C Mahendra Exports, Taneja Aero, Modern Dairies and Cybertech Systems
were locked at 20 percent upper circuit.<br />
<strong><br /></strong>
<strong>2:58pm Most active: </strong>The most active shares on BSE were Tata
Elxsi, Aban Offshore, Infosys, MCX India and SBI.<br />
<strong><br /></strong>
<strong>2:54pm Rupee at day's high: </strong>Indian rupee was trading at
day's high around 61.90 mark depreciating 0.42 percent compared to its previous
close.<br />
<strong><br /></strong>
<strong>2:52pm Nifty at 6800-7000: </strong>Earlier today in an interview
with CNBC-TV18, Vibhav Kapoor of IL&FS said he is more positive on the stock
market now than he was two months back. His 12-month Nifty target is 6,800-7,000
and sees 5750-5800 as the base for the index. <strong><a data-mce-href="http://www.moneycontrol.com/news/market-outlook/ilfs-sees-nifty-at-6700-6800a-year-picks-4-sector-bets_1014798.html?topnews=1" href="http://www.moneycontrol.com/news/market-outlook/ilfs-sees-nifty-at-6700-6800a-year-picks-4-sector-bets_1014798.html?topnews=1" target="_blank">Read
full interview here</a></strong><br />
<strong><br /></strong>
<strong>2:47pm Buzzing Stock:</strong> Shares of Hindustan Motors rallied 5
percent intraday on Friday as it gears up for restructuring. The company has
been suffering from poor cash flow due to lack of vehicle sales. <strong><a data-mce-href="http://www.moneycontrol.com/news/buzzing-stocks/hindustan-motors5-as-it-gearsfor-restructuring_1014929.html?utm_source=ref_article" href="http://www.moneycontrol.com/news/buzzing-stocks/hindustan-motors5-as-it-gearsfor-restructuring_1014929.html?utm_source=ref_article" target="_blank">Read
more </a></strong><br />
<strong><br /></strong>
<strong>2:41pm: F&O buzzers: </strong>Hexaware, Apollo Tyres, Divi's
Labs, Bank of India and TCS are top gainers in the F&O space. On the losing
side, Aurobindo Pharma, Jindal Steel, Arvind and Ashok Leyland were trading in
red.<br />
<strong><br /></strong>
<strong>Tepid volumes: </strong>Lack of participation from fund managers on
account of year-end holidays have led to tepid volumes today. A turnover of Rs
62000 crore has been recorded so far which is far less compared to average
volumes.<br />
<strong><br /></strong>
<strong>2:35pm: Price Shockers: </strong>Stocks like Rico Auto, Welspun Corp,
Liberty Shoes, Vaibhav Global and McDowell Holidings have gained more than 50
percent in last 15 trading sessions.<br />
<strong><br /></strong>
<strong>2:30pm: 2013 Celebrity 100 list: </strong>In Forbes 2013 Celebrity
100 list, check out which cricketers and celebrities have made debuts this year.
<strong><a data-mce-href="http://www.moneycontrol.com/news/business/2013-celebrity-100-list-the-debutants_1014941.html" href="http://www.moneycontrol.com/news/business/2013-celebrity-100-list-the-debutants_1014941.html" target="_blank">Read
full story here</a></strong><br />
<strong><br /></strong>
<strong>2:21pm: Commodity Check: </strong>MCX Feb Gold contract was trading
at Rs 28429, down Rs 147 or 0.51%. The yellow metal has lost nearly 20 percent
from its all-time high of close to Rs 35000 in August.<br />
MCX March Silver contract was trading flat at Rs 44790. MCX Jan Crude oil
contract was trading at Rs 6188, down 11 rupees.<br />
<br />
The BSE Sensex was trading strong on the final day of the last trading week
of 2013. IT heavyweights like Infosys and TCS were star performers of the day.
Midcap IT and banking stocks were also minting money for traders.<br />
<br />
The Sensex was up 119 points or 0.6% at 21194 and the Nifty was up 33 points
or 0.5% at 6312.<br />
The advance decline ratio still remains strong with 1284 shares advancing
compared to 1041 shares declining.<br />
<br />
TCS was top gainer in the Nifty with close to 3 percent gains followed by
Kotak Mahindra Bank (up 2%), NMDC (up 1.9%), Cipla (up 1.75%) and HUL (up
1.27%).<br />
<br />
BHEL, Jaiprakash Associates and Maruti Suzuki were top losers in the Nifty
losing over a percent each.<br />
In broader markets, stocks like Apollo Hospitals (up 6%), TVS Motor (up
5.14%), Bajaj Electricals (up 4.97%), Chennai Petro (up 4.37%) and KPIT Tech (up
4.30%) were buzzing on heavy volumes.</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-54734341655455435192013-12-20T07:10:00.003-08:002013-12-30T21:53:24.470-08:00Nifty's 50 DMA holds the key for this rally to sustain<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivl84aDJkEMggXIH0r99AcAmjnLL_dbRHxAInkwTSdqs4kcnRPZ9CFEBiaxnk700tU7ESg5v33ihDVgyw9ijBh4TYV4esb0XbDx2LfniKq9VUqIzkb-C3_GZqd3Mjo6FIaMG2oSeHktW4/s1600/Nifty+50+DMA.PNG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivl84aDJkEMggXIH0r99AcAmjnLL_dbRHxAInkwTSdqs4kcnRPZ9CFEBiaxnk700tU7ESg5v33ihDVgyw9ijBh4TYV4esb0XbDx2LfniKq9VUqIzkb-C3_GZqd3Mjo6FIaMG2oSeHktW4/s1600/Nifty+50+DMA.PNG" height="325" title="Nifty's 2-year chart along with 50 DMA" width="640" /></a></div>
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<b>Riken Mehta</b><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;"><br /></span></b></b></span></b>
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b><span style="font-size: 12px; line-height: 12px;"> </span></b></span></b></div>
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<br />
The 50 Day Moving Average of Nifty holds the key for this
rally to sustain in the near term. As it is evident from the chart the Nifty took support around its 50 DMA on three occasions in last two months and bounced back sharply.
As the name implies, it is an average of a certain body of data. For example,
if 50 day moving average (DMA) of closing prices is desired, the closing price
for the last 50 trading days are added up and the total is divided by 50. The
term moving is used because only the last 50 days closing prices are used for
calculations.</div>
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<div class="MsoNormal">
The 50 DMA acts as a support in an uptrend and resistance in
a downtrend. When the Nifty breaches 50 DMA on the upside in an ongoing trend
with heavy volumes, then one can infer there is a reversal in trend and
vice-versa. However, one must wait for the Nifty to close above or below 50 DMA
for 3 to 5 trading sessions on a consistent basis before concluding trend
reversal.</div>
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<div class="MsoNormal">
The moving average is a smoothing device. By averaging the
price data a smoother line is produced making it much easier to view the underlying
trend. Remember, moving average is a lagging indicator. What it means is that
20 Day Moving Average would hug the price action more closely than 200 Day
Moving Average.</div>
<div class="MsoNormal">
Depending on your time frame, a shorter, medium or longer
term average can be used. A 50 day moving average would be more useful for
short term trend while 200 DMA will prove effective for the longer term.</div>
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<div class="MsoNormal">
<b>Types of Moving Average</b><br />
<b><br /></b></div>
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<b>Simple Moving Average</b></div>
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Simple Moving Average is widely used by most of the
technical analysts. However, over the years this moving average has been
criticized for assigning equal weight ages to all days. In a 20 day average,
the last day receives the same weight age as the first day. This was taken care
by Exponential Moving Average</div>
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<b>Exponential Moving Average</b></div>
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Exponential Moving Average assigns a greater weight to the
more recent data which is why it is called a weighted moving average. We will
not brief the calculation. Technical software’s and charts makes it easy for
you. All you have to do is select the number of days you want in the moving
average: 20, 90, 200 etc.</div>
</div>
Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-25546041301011539312013-12-17T19:36:00.001-08:002013-12-20T07:23:14.143-08:00CNX IT index at multi-year high; Infosys, TCS, HCL Tech, Wipro at multi-year high<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: left;">
<span style="font-family: Arial, Helvetica, sans-serif;"><b>Riken Mehta</b></span><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b><span style="font-size: 12px; line-height: 12px;"> </span></b></span></b><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
<div style="text-align: left;">
<span style="font-family: Arial, Helvetica, sans-serif;">IT stocks have been one of the biggest wealth creators for investors over the years. CNX IT index, barometer of IT stocks has recorded fresh highs since 2004. The index has gained 211 percent in last nine years while rupee has depreciated 40 percent in the same period. Heavyweights like Infosys, HCL Tech, TCS and Wipro are trading at multi-year highs as strong US economy coupled with weak rupee favours IT stocks.<br /><br />N Chandrasekaran, CEO and managing director of India's largest IT software company TCS also painted bullish picture for FY15. “FY15 will be a better than FY14 as per the initial talks that we have had with our clients. We expect a good growth overall -- retail, consumer goods and services, utilities, pharma, financial services, etc," N Chandrasekaran told reporters.</span></div>
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Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004tag:blogger.com,1999:blog-2447383201588193336.post-89933881022729457912013-12-12T03:26:00.000-08:002013-12-17T19:40:32.594-08:00Chart: Nifty’s intra-year pullbacks over last 13 years<div dir="ltr" style="text-align: left;" trbidi="on">
<b><img alt="" border="0" src="http://www.moneycontrol.com/news_image_files/nifty_300_49998804.jpg" style="padding: 0px;" /> </b><br />
<br />
<b>Riken Mehta</b><br />
<br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><b><b><span style="background-color: white; font-size: 13px; line-height: 18px;">Follow me on Twitter <a href="https://twitter.com/mehtariken" style="text-decoration: none;" target="_blank">@mehtariken</a></span></b><span style="font-size: 12px; line-height: 12px;"> </span></b></span> </b> <br />
<br />
The Nifty's 23 percent rebound from the lows of August (and also the lowest point for the year) has taken investors by surprise. But this recovery is still not as strong as some of the comebacks seen over the last few years. The biggest bouncebacks were in 2003 and 2009, when the index more than doubled from the lows of the year.<br />
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Intra-year recovery is recovery from lows of the year to year end price<br />
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<img align="left" alt="" src="http://www.moneycontrol.com/news_image_files/2013/i/intra-yearrecoveryNifty.PNG" /> <br />
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Chart: Nifty’s intra-year pullbacks over last 13 years<br />
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Read more at: <a href="http://www.moneycontrol.com/news/market-edge/chart-nifty%E2%80%99s-intra-year-pullbacks-over-last-13-years_1007134.html?utm_source=ref_article">http://www.moneycontrol.com/news/market-edge/chart-nifty%E2%80%99s-intra-year-pullbacks-over-last-13-years_1007134.html?utm_source=ref_article</a><br />
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Anonymoushttp://www.blogger.com/profile/11657905842722414714noreply@blogger.com0Mumbai, Maharashtra, India19.0759837 72.87765590000003618.5957917 72.232208900000032 19.556175699999997 73.52310290000004