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Excellent Opportunity: Opening as professional trader with KREDENT

We are glad to invite applications for our Professional Derivatives Trading desk.

Kredent trading desk is one of the largest trading desk in India with substantial market share in exchange’s volume and liquidity. Kredent is the direct clearing and trading member of the NSE, MCX-SX, MCX, NCDEX and BSE. Read the rest of this entry »

Infosys declared its third quarter result today. The results came better than than the street expectations. The sales were around 3% above the Bloomberg consensus estimate, whereas the net profit was around 12% below, which was boosted on account of higher other income.

BSE                    :              INFOSYS

NSE                   :              INFOSYSTCH

Bloomberg     :              INFO IS Equity

CMP                  :              Rs. 2,587.45

Sector              :              IT Services

View                 :          Neutral with positive bias

RESULT HIGHLIGHTS:

• The consolidated net sales for the quarter ended December 09 contracted by 1% to Rs. 5,741 cr, this was mainly on account of recovery by the North American Financial Services Sector
• Read the rest of this entry »

• The IIP figure for November stood at 11.7%, taking everybody’s breath away. It stunned everybody since the market’s expected figures was hovering around 10%.The same index registered a growth of 2.4% y-o-y in Nov’08 whereas a growth of 10.3% (revised) y-o-y in the last month
• It grew at its fastest pace in two years which was the after-effects of the festive season and also strong global cues. It thus supported the story of improved industrial activity in the last few months and thus, is an indication of a faster economic recovery in India
• Read the rest of this entry »

• In a first of its kind scenario in 2010 , at least 14 national brands will promote the same value proposition- mobile voice
• With the advent of new players and introduction of the tariff wars the listed telecom companies have already shed close to $40 billion in market value
• While the top four operators own about three-fourth of the market of around 500 million users, Idea and Aircel who are relatively younger and the new entrants are clear threats to the established lot
• The biggest challenge for a mega brand is to fight brand fatigue and the new entrants push the larger players to lower tariffs to their entire base, hitting them where it hurts most
• These brand wars are both unprecedented and unaffordable
• A two-year battle can make the ride rough for the mega brands

Read the rest of this entry »

“Hello readers…warm wishes for the year ahead on behlaf of MoneyBol team. My apologies for delayed posting of the monthly update. To make amends I have also updated the yearly review. Hope these are useful and informative for you.” – Praveen Bajaj,

Equity- BSE Sensex

Stocks started the month with a 200+ points gain on the first day but later started retreating touching a monthly low of 16601. Towards the end, stocks regained bullish momentum and in 6 trading days zoomed 863 points to close the year 2009 at 17464, gaining 3.18% since November’09.

Sensex

Stocks started the year 2009 with a pessimistic note amid fears of global recession. Consequently Sensex remained subdued in the beginning of the year and touched a low of 8047 in March, 1600 points down from 9647 as on December 31. While the world economy is still trying to recover from the slowdown, Indian stock markets picked up quite early and since March, stocks have been on a rising path. Sensex closed the year at the highest closing for the year, 17464, returning 81% since December last year

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Investment Rationale

• BSCL, an agro-chemical company, is subsidiary of the Euro 35 billion Bayer AG

• Its business is divided into crop protection, environmental science and bio-science

• Per hectare consumption of pesticide in India is merely 0.48 kgs, lower than 5.0 kgs per hectare in the US and again less than 10.0 kgs per hectare in Japan

Read the rest of this entry »

• Carry trade strategy : buying (investing in) a high interest yielding currency and selling (borrowing) a low yielding currency
• Yen is favoured funding currency for the carry trade due to low interest rates in Japan
• Dollar has become the next favoured one due to the economic crisis and near-zero rates in America Read the rest of this entry »

To what extent fair value accounting holds good for valuation in IFRS

Significant percentage of the balance sheet would be at Fair Value compared to current practice of carrying at historical cost under IFRS.

Use of Fair value:

At present Fair Value is limited to impairment of assets, measurement of retirement benefits and mark to market accounting of derivatives where as under IFRS it extend to Held for Trading  portfolio, Available for Sale, assets/liabilities designated as fair value through Read the rest of this entry »

As the holiday season sets in markets seem to be mostly listless with a slight bullish bias for the USD. The dollar is at its year high. However, while the bullish dollar has had a strong impact on almost all the majors with Euro shedding around 400 pips and currently trading in the 1.4200 level, the INR has mostly held itself for the time being. Volumes dropped and not many new positions are being taken up. With the Sensex and Nifty up for the year and good growth numbers, the India story seems to be intact. We feel that the INR would Read the rest of this entry »

India’s WPI inflation rose by 4.78% y-o-y in November compared to1.34% in October.  4.20%. It was more than the Bloomberg consensus street expectations of around 4.2%. This was mainly on account of higher manufactured product prices which has a weight of around 63% on the index. This I believe is a clear signal of Read the rest of this entry »