INDIAN MARKETS ARE SERIOUSLY UNWINDING THE LONG POSITIONS FOR WANT OF NEW TRIGGERS AND POLITICAL UNCERTAINTY ADDING. PREPARE FOR HDFC NEWS.
Saturday, November 23, 2013
SEBI...SUPREME COURT...Sahara story..Rs 20,000 crore!!!!.
But where are the investors?
It raises a further question. If these are fictitious investors, who were a part of an elaborate money-laundering scheme, then, is SEBI — which is mandated to protect investors — the right organisation to be fighting this case? Should we be surprised that despite openly seeking out complainants, SEBI has made precious little headway? Wouldn’t it have been far better if the case was treated as a money-laundering one and left from the very beginning to the Enforcement Directorate? The ED, which has recently registered two cases on the issue, will investigate, among other things, whether the missing money has been transferred out of the country and whether a large number of the investors were phantoms — in effect, conduct the kind of probe that SEBI isn’t capable of.
The Supreme Court has put pressure on the group by preventing the sale of any of its properties and demanding that it submit original title deeds of land worth Rs 20,000 crore to SEBI. But the full truth of the Sahara story — the one about phantom investors and missing sums of money — is likely to be uncovered only by cases registered under the Prevention of Money Laundering Act (PMLA).
Nifty is headed towards 5,780-5,800...!!!
Nov 22, 2013, 06.08 PM IST Technicals:
Nifty will slide unless it can break past 6210
A look at the short-term price chart indicates that the Nifty is tracing out a bearish sequence of lower highs and lower lows. B Krishnakumar, fundsindia.com More about the Expert...Source: Moneycontrol.com
The Nifty has been struggling to get past its life-time high at 6,358. A look at the short-term price chart indicates that the Nifty is tracing out a bearish sequence of lower highs and lower lows. From the 15-minute chart featured below, it is evident that the index is moving within the confines of the blue set of lines. For 15-minutes chart, Click here The middle blue line is the key reference point and the trend remains bearish until the price moves past this centerline. The real level to contend with is the red balance line at 6,210.
As long as the Nifty trades below this red line at 6,210, the path of least resistance would be on the way down. As highlighted in the daily chart of the Nifty featured below, the open gap at 5,780-5,800 is the next destination. For daily chart, Click here A break below the recent low of 5,972 would indicate that the Nifty is headed towards this target at 5,780-5,800. Until there is a breakout above 6,210, there would be a strong case for a slide to 5,800.
Read more at: http://www.moneycontrol.com/news/market-cues/technicals-nifty-will-slide-unless-it-can-break-past-6210_995255.html?utm_source=ref_article
Friday, November 22, 2013
Cairn India to consider share buy-back next week....!!!!
Cairn India to consider share buy-back next week, move to help Vedanta Group
Reuters | New Delhi | Updated: Nov 22 2013, 13:50 ISTSUMMARYSteel billionaire Anil Agarwal-led Vedanta Group holds 58.76 per cent stake in Cairn India.Cairn India Ltd board will on Tuesday consider a proposal to buy back shares, a move which will help promoters Vedanta Group increase its stake in the company without putting any money.
Cairn, which is sitting on a cash pile of about USD 3 billion, in a filing to the stock exchanges said "a meeting of the Board of Directors of the company will be held on November 26, 2013, to consider the proposal for buy back of equity shares of the company."
Share buy back is the process where a company repurchases outstanding shares in order to reduce the number of shares on the market.Companies, as a rule, buy back shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may be looking for a controlling stake.
As per SEBI rules, Cairn will buy a pre-decided quantity of shares from the market at a rate which is likely to be higher than current trading price. Such shares will be held as treasury stock and eventually extinguished.This will lead to its promoter Vedanta Group's stake in the company going up without putting any money.Steel billionaire Anil Agarwal-led Vedanta Group holds 58.76 per cent stake in Cairn India.
UK's Cairn Energy plc, which had sold majority stake in Cairn India to Vedanta Group, still holds 10.27 per cent shares and may look at the share buy back programme to exit.Vedanta Group had bought stake in Cairn India at Rs 355 per share, a price the company stock has not touched in last one year.
"Cairn Energy is a known seller for long time and the share buy back may present it with an opportunity to exit from Cairn India," an analyst said.While share buy back is considered an efficient means of returning capital to shareholders, it also indicates that the company is not looking at doing major acquisitions or has significant capex plans that may need its current cashpile. Analysts said Vedanta holds 112.27 crore shares out of a total of 191.05 crore outstanding shares of Cairn India.
Cairn UK Holdings Ltd has 19.61 crore shares while Life Insurance Corp (LIC) has 16.77 crore (8.78 per cent) shares.ICICI Prudential hold 1.08 per cent shares while foreign institutional investors (FIIs) have 15.14 per cent holding. Financial institutions and Bank have 8.7 per cent.
Analysts said in case Cairn India buys 10 per cent of 19.10 crore shares in the buy back programme and extinguishes them, the total outstanding shares will come down to 171.945 crore. The reduced outstanding shares would mean that Vedanta Group's stake would rise to about 65.3 per cent without it buying any new shares.
Cairn, which produces over 1,75,000 barrels per day of oil or a quarter of India's crude oil production, was up Rs 9.45 (2.98 per cent) at Rs 326.70 at 1300 hours on the BSE.
NIFTY LIKELY TO TOUCH 5800....!!!
Tweets
- Markets struggling to distribute the weak stocks as the retail buyer interest has not emerged,buy NIFTY at 5950-80,RIL touches 828-32 range
- INDIAN MARKETS ARE OVERHEATED AT LEAST IN LARGE CAP AREA. BE PATIENT TO CATCH THE STORY AT 5850-20 LEVELS.BUY ON DIPS IS STILL A GOOD STORY.
- BE CAUTIOUS AT THE HIGHS, SECTOR ROTATION HAPPEN FROM"IT TO METALS" AND POWER SECTOR,TELE-INFRA, RIL,ESCORTS,RELCAP RELINFRA DO WELL,ENJOY!!
- Nifty added 120 points on a No New good News. The FUTURE VIEW is all that matters whether market participants Carry OPTIMISM or PESSIMISM.
- NIFTY IS CONSOLIDATING, WAITING FOR RBI POLICY AND WILL GO DOWN BUT GETS SUPPORT AT 5800 LEVEL.THE BEST BUY THEN WOULD BE JSWSTEEL AND WIPRO
Surabhi Roy | Mumbai
November 22, 2013 Last Updated at 14:50 IST
'Nifty can test 5,880 levels in coming days'
Check out the trading strategies for Nifty, CNX IT, rate-sensitive segments with Mudit Goyal, technical analyst, SMC GlobalCheck out the trading strategies for Nifty, CNX IT, rate-sensitive segmentswith Mudit Goyal, technical analyst, SMC Global.
SmartInvestor: The markets have nudged higher today after witnessing a sharp downslide for the last two trading sessions. Do you see the trend continuing or should one use the upside to exit? What are the important levels one should keep a tab on?
Mudit Goyal: As per the charts, markets found difficulty to breach the level of 6210 levels which was the 61.8% Fibonacci retracement levels of recent downside from 6340 to 5970 levels. It corrected sharply and entered in its earlier support zone of 5980-6070 levels.
Mudit Goyal: Breakout of 6070 can attract some buying upto 6180 levels and on the downside, Nifty can test the level of 5880 in coming days. Yes, one should use the upside for reducing their positions.
SmartInvestor: What are your top three BUY recommendations from the Nifty pack?
http://www.business-standard.com/article/markets/nifty-can-test-5-880-levels-in-coming-days-113112200602_1.html
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