INVESTOR INTEREST


The Indian capital market is narrow, shallow, illiquid and concentrated in the hands of a few individuals. Here is the evidence Whenever I point out that India’s investor population has plummeted from 20 million in 1992, when we embarked on our economic liberalisation programme, to eight...

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Gainers: Canara Bank (up 13%) has revised its benchmark prime lending rate (BPLR) upwards by 50 basis points (bps) to 12.5%, from 12% effective 12th August. State Bank of India (SBI) (up 7%) posted growth of 6% and 67%, respectively, in revenue and operating profit in the June quarter over the...

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Gainers: Petronet LNG (up 10%) plans to set up a 750MW gas-based power station at Dahej. State Bank of India (up 7%) posted growth of 6% and 67% in revenue and operating profit, respectively, in the June quarter over the year-ago period on high net interest income and decline in the cost of...

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Gainers: Yes Bank (up 16%) raised Rs665 crore through bonds and debt. Wipro (up 12%) has set up the first Bluetooth testing facility in India. The company is the first to be recognised as the Bluetooth Qualification Test Facility (BQTF) by the Bluetooth Special Interest Group (SIG), the trade...

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Moneylife Digital Team 18 September 2010
A year on, some beleaguered investors in Osian Art Fund still await the first tranche of payment! When wealth managers (mostly of foreign banks) sell alternative investment products like art funds to their ‘clients’, they surely do not expect a situation where even the return of the principal...

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Foreigners: Foreign institutional investors continued buying shares in large volumes registering a net inflow of Rs3,604 crore during the fortnight. Indians: Domestic institutional investors chose to dump shares in the market and registered a net outflow of Rs1,918 crore.

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Most global indices ended in negative territory over the fortnight. The Nasdaq Composite and the Nikkei shrunk the most (5% each) while the Dow Jones Industrial Average fell by 4%.

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  Textiles companies, stocks, like Shiva Texyarn (up 61%), Raymond (up 58%), Rajvir Industries (up 50%) and Birla Cotsyn India (up 45%), gained hugely in the past fortnight. Some gains were due to expectations of mill land sale.

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Shipping stocks took a beating last fortnight. Bharati Shipyard (down 8%), Garware Offshore Services (down 5%), Varun Shipping Company and Chowgule Steamships (down 4% each) were among the major losers.

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Among the buyers, Vijay Agrawal bought 216,039 shares of Action Construction Equipment Ltd, taking his stake up to 33.64%. Prakash M Sanghvi, director of Ratnamani Metals & Tubes Ltd bought 90,918 shares of the company, which took his holding up to 6.41%. DK Jain of Aksh Optifibre Ltd bought...

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Moneylife Digital Team 18 September 2010
The market ended another week on a high note with support from foreign institutional buyers. Except for Thursday, it was a green closing on the remaining four trading days. Global cues also supported the rally. The Sensex touched a high of 19,243 and the Nifty scaled 5,770 on Monday on the back...

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Curb your excitement. This rally is for momentum chasers All these months, I had two medium-term scenarios in mind. One, after a 2,500 points rally in the Sensex over three months from the end of May, I felt we are about to give up some of the gains. A smaller possibility, which I have...

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Moneylife Digital Team 18 September 2010
India’s roaring economy ranks 133rd among 183 countries in the ease of doing business India is supposed to be emerging as a global economic powerhouse and the ‘apple of the eye’ for Western onlookers. A quantitative survey by the World Bank seems to conclude year after year that India is a...

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Sanket Dhanorkar 18 September 2010
Motilal Oswal’s new MOSt Shares M50 may be a winner if it avoids market-timing Fundamental indexing is a nascent concept in India, although it has caught on in global markets. Motilal Oswal Mutual Fund has introduced this concept for the first time here, with its first offering, an exchange...

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Moneylife Digital Team 18 September 2010
Until a few years ago, initial public offers (IPOs) of companies created quite a lot of excitement and enthusiasm among investors. IPOs carried the promise of making investors a whole lot richer overnight, enticing them to take the plunge regardless of the fundamentals or valuations. Moneylife...

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Moneylife Digital Team 17 September 2010
Islamabad: Turkmenistan, Afghanistan, Pakistan and India are scheduled to sign a landmark agreement for a multi-billion gas pipeline project in Ashgabat on 20th September, reports PTI quoting Pakistan's petroleum ministry. The pact will be signed by the petroleum ministers of the four countries...

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Moneylife Digital Team 17 September 2010
Ashok Leyland, the Hinduja flagship, has won an order for supply of 2,850 buses from the Institute for Road Transport (IRT), the nodal agency for procurement of vehicles for Tamil Nadu government. No financial details of the contract were provided. The 2,850 buses order is from across the...

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Moneylife Digital Team 17 September 2010
Anjani Fabrics Ltd, said it has signed a memorandum of understanding (MoU) to acquire Balhanuman Fabrics Pvt Ltd. No financial details of the deal were provided. With the acquisition of Balhanuman Fabrics, the total production capacity of Anjani Fabrics will increase to almost 2.4 million...

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Moneylife Digital Team 17 September 2010
Shriram EPC Ltd, along with its associate companies, has received orders worth Rs1,000 crore across various business divisions. Shriram EPC provides turnkey solutions for thermal power plants, water treatment, renewable energy, cooling towers and material handling. On Friday, Shriram EPC...

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