Increased frauds lead to dwindling investors, as pointed in past by Moneylife. New academic...
While Kapil Sibal has denied any ownership of Tehelka, documents show he owns 80 shares of the beleaguered media company. Interestingly, BJP leader Ram Jethmalani has 165 shares in Tehelka
Union Law and Justice Minister Kapil Sibal again denied owning a single share in the Tehelka magazine. However, according to the directors’ report of Anant Media Pvt Ltd, which owns the magazine, as of 29 September 2012, Sibal owns 80 shares or 0.04% stake in the company.
Interestingly, as the Tejpal issue has become a matter of slanging match between Bhartiya Janata Party (BJP) and Congress with BJP indirectly accusing Sibal of shielding Tehelka editor Tarun Tejpal, former BJP leader Ram Jethmalani's stake in Tehelka is double that of Sibal. Jethmalani owns 165 shares or 0.08% stake in Anant Media, the director's report states.
As per the director's report, as of 29 September 2012, Royal Building and Infrastructure Pvt Ltd, owned by Trinamool Congress' member of Parliament (MP) Kanwar Deep (KD) Singh is the majority shareholder in Anant Media with 1.30 lakh shares or 65.75% stake. Tejpal is the second biggest stakeholder with 38,210 shares or 19.25% stake. He is followed by Weldon Polymers Pvt Ltd at 5.87%. Priyanka Gill and Neena Tejpal Sharma owns 2.14% and 1.55% stake, respectively in Anant Media. Shoma Chaudhary, the managing editor of Tehelka owns 1000 shares or 0.5% stake in the company.
Earlier today, Sushma Swaraj, the leader of Opposition, tweeted saying, "Union Cabinet Minister who is the founder and patron of Tehelka is shielding Tarun Tejpal."
Tejpal is accused of sexually assaulting a younger colleague at a Goa hotel where the magazine had organised an event earlier this month.
In his petition to the Delhi High Court for anticipatory bail, Tejpal alleged that the investigation against him is the result of "the wrath of the BJP" which is avenging earlier Tehelka exposes on some of its top leaders.
After a dull session, neither the bulls nor the bears have the upper hand. Nifty may rally if it trades above 6060 consistently in tomorrow’s session
Today’s stock market trading session was characterised by dull trading, with plenty of see-saw movement. At the end, there were no eventual winners, with the markets finishing flat. Yesterday, we had opined that the Nifty must close above 6,085 for the bulls to regain initiative. This did not happen. The markets opened in the green but immediately started to trend downwards, into the red, with spurts of volatility. This continued till mid-day, when a reversal saw the market rebound and regain momentum to finish the day flat.
The BSE Sensex opened at 20,449 then steadily declined to an intra-day low of 20,348 before a reversal saw the index rebound to an intra-day high of 20,482 before finishing at 20,420 (down 4.76 points or -0.02%). Similarly, Nifty opened at 6,062, hit an intraday low of 6,030 then went up to an intra-day high of 6,074, before finishing at 6,057 (down 2 points, or -0.03%). The indices remained flat on weaker volumes of 52.64 lakh shares being traded.
Indices were mixed today, with some going up and some going down. Auto, Midcap 50 and CNX Metals were relatively strong, finishing up 1%, 0.46% and 0.39% respectively. The losers were CNX IT, CNX Realty and CNX MNC, which were down 0.64%, 0.56% and 0.42% respectively.
Of the 50 stocks on the Nifty, 21 advanced and 29 declined. The top gainers were Tata Motors (2.31%); BPCL (1.89%); Grasim (1.48%); Ultratech Cement (1.15%) and Axis Bank (1.06%). The top losers were JP Associates (-3.05%); Power Grid (-2.18%); Bharti Airtel (-1.54%); DLF (-1.44); NTPC (-1.41).
Of the 1,437 shares on the NSE, 577 closed in the positive, 766 closed in the negative while 94 remained unchanged.
The LIC chairman has said that LIC has invested Rs33,000 crore in capital markets so far in FY14. The Finance Ministry has indicated the possibility of inflation-linked certificates to the tune of Rs10,000 crore in which rates of interest will be 1.5%-2% above the CPI. RBI hopes to issue certificates by end of December.
The global outlook was marked by good economic numbers in the US and Europe, and a surprise rate cut in Thailand. The US markets finished marginally up yesterday. The US November Confidence Index fell to 70.4 from 72.4. The S&P/Case-Schiller Index of home prices rose 13.3% from a year ago, to its highest level since 2006. Similarly, building permits in the US rose 6.2%, to 1.03 million rate, touching its five-year high.
Gold rose 0.77% to $1,251/ounce while oil dipped to $93.30/barrel.
In Europe, UK’s GDP rose 0.8%, matching initial estimates, and is up 1.5% when compared to the same period last year. On the German political front, German Chanceller Merkel’s CDU party reached a coalition agreement with SPD, a socialist-oriented party. At the same time, German economic data showed consumer confidence rose to the highest in more than six years, buoyed by a robust jobs market and solid income expectations.
Meanwhile, in Asia, the Thai central bank cut key rate to 2.25%, in a surprise move. None of the 19 Bloomberg respondents surveyed did not see forecast this change at all. Asian markets were mixed today, with Nikkei dipping 0.42% while Hang Seng rising 0.53%.