CORE Education....

CORE Education & Technologies Limited

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• Series:
• EQ

• Symbol: COREEDUTEC
• ISIN: INE247G01024

Date	Open	High	Low	LTP	Close	Volume	Turnover (in Lakhs)
27-Feb-2013	113.00	117.80	56.65	59.80	60.50	2,71,55,444	19,096.87
26-Feb-2013	109.90	122.70	106.35	112.80	111.65	78,82,522	9,103.68
25-Feb-2013	286.55	298.80	98.60	107.50	110.50	1,96,54,433	22,960.18
22-Feb-2013	299.00	299.00	291.15	291.15	293.85	13,863	40.76
21-Feb-2013	301.00	301.00	290.05	294.85	295.30	9,430	27.80
20-Feb-2013	298.75	303.60	291.50	294.70	295.20	18,764	55.39
19-Feb-2013	290.15	298.00	290.15	294.00	294.80	18,687	55.10
18-Feb-2013	299.95	299.95	285.10	296.60	295.85	1,20,609	355.84
15-Feb-2013	299.00	300.00	293.55	294.10	296.50	32,834	97.26
14-Feb-2013	302.95	302.95	286.30	299.00	298.90	67,684	201.43
13-Feb-2013	302.80	302.80	297.20	299.55	299.80	53,736	160.97
12-Feb-2013	303.90	303.90	297.35	298.00	300.30	11,177	33.55
11-Feb-2013	302.65	303.00	299.00	302.90	301.95	46,726	140.77
08-Feb-2013	303.65	304.50	298.35	299.05	302.65	56,388	169.84
07-Feb-2013	302.90	302.90	298.55	301.50	301.75	25,883	77.87
06-Feb-2013	305.70	305.70	300.05	300.20	302.25	22,037	66.57
05-Feb-2013	305.65	305.70	300.95	301.20	302.95	43,158	130.76
04-Feb-2013	303.00	307.00	300.35	304.80	305.70	39,892	121.46
01-Feb-2013	300.65	304.50	299.15	304.00	303.55	80,181	241.77
31-Jan-2013	303.00	303.85	299.10	299.10	300.55	22,752	68.32
30-Jan-2013	301.90	302.80	298.30	299.50	301.05	14,901	44.82
29-Jan-2013	303.00	303.00	298.00	299.80	300.10	8,576	25.74
28-Jan-2013	304.00	304.00	299.20	301.00	301.75	37,916	114.03

http://nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=COREEDUTEC

Core Education FROM Rs 299 TO RS 56 - 3 DAYS!!!!

MUMBAI, FEB 27:  

Core Education and Technologies has moved SEBI seeking a probe into the high volumes of trading in its shares that led to a steep fall of 81 per cent in share prices.The stock fell from a high of Rs 300 to a low of Rs 56.55, in just three days.“We would like to request your office to assist the company in conducting your investigation in such unusual high volume and price movement…,” the company said in its letter to the market regulator.The technology-enabled education solutions provider has also sought the market regulator’s assistance in providing appropriate price circuits for its scrip. This is to prevent “further damage and repose shareholders and all stakeholders’ confidence,” it added.Though the stock is not traded under F&O list directly, since it is a part of CNX-IT, which has derivatives contracts, no circuit filter is applicable to the stock.

TUMBLES CONTINUOUSLY

Last Monday, the company’s shares fell by more than 62 per cent on market talks that lenders were diluting shares pledged by the promoters. The prices recovered by noon on Tuesday, after it clarified that pledged shares were not sold in the market. On Wednesday, it fell further by 46 per cent to close at Rs 60.30.“Further, we would like to clarify on the rumours of promoters pledged shares being sold, that we have confirmed with all the financial institutions that none of them have sold the pledged shares and that they continue to hold the same,” it said. However, today IFCI sold 36.95 lakh shares.On Monday, Cresta Fund informed the exchanges that it sold 28.16 lakh shares or 2.4598 per cent stake in the company on February 25. After the sale, their holding reduced to 2.3572 per cent.On Tuesday, SEBI Chairman in Hyderabad, U.K. Sinha, said: “Whenever we worry either through our own surveillance mechanism or through other medium that somebody has tried to manipulate the market, we take action.” rajesh.kurup@thehindu.co.in

http://www.thehindubusinessline.com/markets/core-education-moves-sebi-for-probe-as-stock-crashes-81-in-3-days/article4459326.ece

Rex Cano  |  Mumbai  February 23, 2013 Last Updated at 21:17 IST

Nifty bias to remain negative below 5,880

Weekly Technical Analysis

The markets changed tracks in the latter half of the week, owing to renewed selling pressure in banking, metal and fast-moving consumer goods shares. The Sensex, which touched a high of 19,742 mid-week, dropped to a low of 19,290---a fall of about 450 points from the week's high. The BSE benchmark index finally ended the week at 19,317, a loss of 151 points. 
Among the Sensex-30 stocks, Jindal Steel fell 7.5 per cent to Rs 357. Coal India shed five per cent at Rs 332. Tata Motors, Tata Steel, ITC and ICICI Bank were the other major losers. Wipro soared about four per cent to Rs 416. Sun Pharma, Reliance and Infosys were the other major gainers. 
The Sensex continues to remain in the ‘sell’ mode, as it has recorded a fresh low on the weekly charts. The bias is likely to remain bearish as long as the BSE benchmark index sustains below 19,630-19,480. On the downside, the index could drop to 19,125- or 18,900-odd levels. A slide to 18,500-odd levels cannot be ruled out. To arrest the downward pressure, the Sensex would need to sustain above 19,430-odd levels on a consistent basis. According to the weekly Fibonacci charts, the Sensex is likely to seek support at 19,145-19,030 levels. One can expect a sharp reaction on a break of 19,030-odd levels. In case of an upside, the index could rally to 19,490-19,600.
Last week, the NSE Nifty moved in a range of 135 points. From a high of 5,971, it slipped to a low of 5,836, finally ending the week at 5,850, a loss of 37 points. The short-term trend for the Nifty has turned negative, as the short-term moving average (20-day daily moving average, or DMA) slipped below the medium-term (50-day DMA). The index is trading very close to the lower end of the Bollinger Band. If the index breaks below 5,820, one may see downward pressure.
The Nifty closed on its short-term on the weekly charts. The bias is likely to be negative in case the index consistently sustains below 5,840, following which we could see a sharp slide to 5,650-odd levels, or to 5,550-odd levels.
Most momentum oscillators on the daily and the weekly charts such as the moving average convergence-divergence, the relative strength index and the Stochastic Slow are in favour of the bears. The average directional index, too, indicates any upside from current levels is likely to be short-lived.
On the upside, the Nifty would see resistance at 5,880-5,910. At best, it might spurt to 5,940-odd levels next week. 
To sum up, the bias seems clearly negative in the short term. The Nifty would have overhead resistance at 5,880-5,910-5,940. On the downside, it would see support at 5,820; a sharp slide to 5,550-5,650 seems likely.

http://www.business-standard.com/article/markets/nifty-bias-to-remain-negative-below-5-880-113022300349_1.html

RBS India-to retrench staff

Press Trust of India  |  Mumbai  February 24, 2013 Last Updated at 14:01 IST RBS India starts shutting down branches, to retrench staff The bank has nearly 1,000 employees in India.

British banking major Royal Bank of Scotland (RBS) will be laying-off some of its 1,000 employees as it winds down retail and commercial business in the country."As part of its winding down plans for the R&C (retail & commercial) business here, RBS India has reviewed its operating model and this will unfortunately lead to a number of job losses," it said in a statement. It, however, did not specify the number of people who will be laid off. The bank has nearly 1,000 employees in India.

RBS India had a deposit base of Rs 13,039 crore and an asset book of Rs 12,534 crore as of March 2012, while its NPAs stood at 0.74 per cent.The India operations account for a meagre 0.02 per cent of the RBS Groups assets and around 0.5 per cent of its non-core business. RBS had sold its Asian assets to Australia and New Zealand Banking Corp to comply with the bailout norms recently. Its troubles started after being bailed by the British government in 2008 due to the global credit crisis. 

RBS has 36 branches here after it got the Indian assets of ABN as part of a three-way split of the Dutch bank, after it was acquired along with Banco Santander of Spain and Fortis of Belgium. RBS had announced sale of these businesses with 36 branches to HSBC over two years back, but the deal did not fructify owing to regulatory uneasiness. Around one month back, private sector lender YES Bank evinced interest in picking up the business. But nothing has moved ahead since then. The Hindujas-promoted IndusInd Bank was also reportedly keen to buy out RBS branches her. Interestingly, one of the driving factors mentioned by YES Bank for the deal was the strength it gets through the trained employees. "The affected employees are being informed over the coming days and will be treated fairly and in line with RBS policies," the statement said, adding the preferred banking division, frontline sales and some from Van Gogh Preferred Banking will be impacted following this. The bank's customers will continue to be served, it said, adding that they will be "notified of any changes impacting them in time to minimise disruption." RBS' other businesses in the country, including markets, international banking and private banking, will continue to operate, it added.

http://www.business-standard.com/article/companies/rbs-india-starts-shutting-down-branches-to-retrench-staff-113022400115_1.html

Domestic Mutual Funds sell......

Domestic Mutual Funds sell shares worth Rs 9K cr in Q3 

PTI: NEW DELHI, FEB 24 2013, 11:13 IST
Domestic mutual funds seem to have taken a bearish stance in the stock market during the last quarter when they offloaded shares worth Rs 9,000 crore (about $1.65 billion) despite a significant uptrend in the overall market and impressive buying by foreign investors.

Individually, sectors like energy, software and pharma were among the worst hit in terms of net sale by mutual funds, while net purchases were made in stocks from metal and mining] and financial segments.

According to global research report by BofA-Merrill Lynch, domestic mutual funds (MF) sold shares worth Rs 9,000 crore (about USD 1.65 billion) during the October-December quarter] 2012, while they acquired shares to the tune of Rs 3,455 crore] (about USD 633 million) during the same period.

The top stocks sold by domestic MFs were -- Wipro, HDFC Bank; energy firms--Reliance Industries (RIL), ONGC and NTPC --,while most bought shares were state-run NMDC, State Bank of India (SBI),ICICI Bank, diversified conglomerate Aditya Birla Nuvo and auto component maker Motherson Sumi Systems.Individually, domestic MFs lowered their exposure to companies like Wipro with sale of shares with an estimated USD 162 million, followed by HDFC Bank (USD 149 million), RIL] (USD 143 million), ONGC (USD 114 million) and NTPC (USD 97 million), the report said.

Additionally, domestic mutual funds sold stake in IT major HCL, pharma companies--Divis Laboratories, Sun Pharma, Cipla and Ipca; utility firms--Power Grid and GAIL; consumer goods maker--ITC and Hindustan Unilever Ltd, and Coal India.On the other hand, domestic MFs major investment during the quarter

included NMDC (USD 336 million), SBI (USD 92 million), ICICI Bank (USD 65 million) and USD 53 million each in Aditya Birla Nuvo and Motherson Sumi.According to the report domestic mutual funds continued to be net sellers for the past two quarters. "MF sold Indian equities with an net outflow of USD 1 billion in October-December quarter as compared a net outflow] of USD 1.1 billion in the previous quarter (July-September," it added.

As per the report, industrial was one of the biggest overweight sector for domestic MF's, while they are underweight on areas like financial, software, metals and mining, utilities and energy.

Interestingly, FIIs infused a net amount of over Rs 45,000 crore in the entire Indian stock market in October-December period on the back of a slew of reforms initiated by the government, pushing the broader market Sensex to surge 18,099 points or nearly 10 per cent. In terms of sectors, the domestic MFs sold shares valued at USD 348 million in the energy sector followed by software portfolio (USD 280 million), pharma (USD 264 million), utilities (USD 249 million) and consumer (USD 195 million).

In contrast, mutual funds investment in the metal and mining stood at USD 283 million.

http://www.financialexpress.com/news/domestic-mutual-funds-sell-shares-worth-rs-9k-cr-in-q3/1078913/2

Premji -- Rs 12,300 cr to trust

Premji transfers Wipro stock worth Rs 12,300 cr to trust PTIBANGALORE, FEB 22:  

Giving more to philanthropy, IT czar Azim Premji today announced transfer of 295.5 million equity Wipro shares worth Rs 12,300 crore held by certain entities controlled by him, to an irrevocable trust.

The trust will utilise the endowment to fund, various social, not-for-profit initiatives of Azim Premji Foundation, which are expected to scale significantly over the next few years, the statement said.

With this transfer, the trust’s shareholding in Wipro will go up to about 19.93 per cent, according to a statement issued by the Foundation here.

The 295.5 million shares of Wipro Ltd represent around 12 per cent stake.

Azim Premji is also Chairman of Azim Premji Foundation.

On February 19, Premji had announced he will commit more of his wealth to philanthropy, as his Foundation scales up work to improve equity and quality of the primary education system in the country.

The business tycoon had donated 8.7 per cent of the total stock of Wipro from his personal stock-holding for philanthropy in 2010. This had formed the endowment for the Foundation.

In a letter for the first international “Giving Pledge”, group, he said the Foundation currently has 800 people spread across the country: most of whom are working for the betterment of some of the most disadvantaged regions of the country, and others at the Azim Premji University.

The Foundation is a not-for-profit organisation set up in 2001 with an overarching goal to create and sustain initiatives to contribute to a just, equitable, humane and sustainable society, it said.

The Foundation has worked largely in rural India, often in close partnership with various state governments, to help contribute to the improvement of quality and equity of school education, the statement said.

Currently, the Foundation’s work is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Puducherry, Andhra Pradesh, Bihar and Madhya Pradesh, it said.

http://www.thehindubusinessline.com/news/premji-transfers-wipro-stock-worth-rs-12300-cr-to-trust/article4443285.ece