Current news & Rumours in the mkt

[alroyraj]

Oil secy: Govt may sell stake in ONGC, IOC

India may sell government stake in Oil and Natural Gas Corp and Indian Oil Corp, Oil Secretary S. Sundareshan told a television channel on Thursday.

"These are interesting ideas in the case of ONGC and Indian Oil and we are looking into this," he said to a question on the scope of stake sale in state-run oil firms.

"The scope of this (stake sale) does not exist in the case of Hindustan Petroleum Corp, Bharat Petroleum Corp and GAIL (India), where the holding of the government is 51 per cent to 57 per cent."

India plans to sell government stake in 60 firms in next few years and aims to raise Rs 40,000 crore in the current fiscal ending March 2011 to fund its social welfare schemes and infrastructure programmes.

The government currently holds 74.14 per cent stake in in ONGC and about 79 per cent in IOC.

 

[alroyraj]

Bajaj Auto may issue bonus shares

Nearly 13 years after it had last issued bonus shares, India’s second largest two-wheeler maker Bajaj Auto today said it was planning a similar move, for which its board would meet on July 22.

The announcement drove the company’s scrip to an all-time high of Rs 2,461.70 per share on the BSE during the afternoon trade, up 2.15 per cent from the previous close.

Bajaj

“A meeting of the board of directors of the company will be held on July 22 to consider a proposal for declaration of bonus shares, subject to approval by shareholders,” Bajaj Auto Ltd said in a filing to the Bombay Stock Exchange.

The company, however, did not elaborate on the details of the bonus shares to be issued.

According to information available on the official website, the last time Bajaj Auto Ltd (now known as Bajaj Holdings and Investments Ltd) had made an announcement of the sort was in October 1997, when it issued bonus shares in the ratio of 1:2.

Bajaj Auto had also issued bonus shares in the 1:1 ratio in 1994, 1991, 1988, 1984 and 1976. In 1971 and 1973, the company had issued bonus shares in the 1:2 ratio.

The biggest bonus share from the company till date was in 1967, when it issued five new shares for every one held in the company.

 

[alroyraj]

PNGRB to issue city Gas licences

The Petroleum and Natural Gas Regulatory Board, the country’s gas regulator, will now get powers to authorise gas pipelines and the city gas distribution (CGD) networks, as the government has finally decided to notify a crucial Section in the PNGRB Act of 2006.
The notification comes after Delhi-based natural gas retailer Indraprastha Gas Ltd (IGL), which claimed a pre-PNGRB authorisation for CNG operations in Ghaziabad, and Voice-of-India, a non-government organisation, had challenged PNGRB’s power to issue authorisation for a CGD network for Ghaziabad in the Delhi High Court.

The central government had also supported IGL’s case. The petroleum ministry had about a fortnight before protected the interest of IGL by granting it authorisation for Ghaziabad.
The domestic production of natural gas has doubled to 140 million standard cubic metres a day (mscmd) on account of the output of K-G Basin gas. Companies, including GAIL Gas, Reliance and Adani, had already made significant investment in the CGD business.

In March-April 2009, the board had issued city gas licences for six cities — Kakinada in Andhra Pradesh, Mathura and Meerut in Uttar Pradesh, Kota in Rajasthan, Dewas in Madhya Pradesh and Sonepat in Haryana.

In the second round, it invited bids for seven more cities — Allahabad, Ghaziabad and Jhansi in Uttar Pradesh, Shahdol (Madhya Pradesh), Rajahmundry and Yanam (Andhra Pradesh) and Chandigarh, but did not award licence on restraint from the court.

 

[praveen taneja]

On introduction, however, physical settlement for all stock options and/or all stock futures, as the case may be, must be completed within six months.




This is in continuation of SEBI Circular No. SMDRP/DC/CIR- 7/01 dated June 20, 2001 and Circular No. SMDRP/DC/CIR- 10/01 dated November 2, 2001 regarding settlement of stock options and stock futures contracts respectively.

Based on the recommendations of the Derivatives Market Review Committee and in consultation with Stock Exchanges (BSE and NSEIL), it has been decidedto provide flexibility to Stock Exchanges to offer:

Cash settlement (settlement by payment of differences) for both stock options and stock futures; or
Physical settlement (settlement by delivery of underlying stock) for both stock options and stock futures; or
Cash settlement for stock options and physical settlement for stock futures; or
Physical settlement for stock options and cash settlement for stock futures.
A Stock Exchange may introduce physical settlement in a phased manner.

On introduction, however, physical settlement for all stock options and/or all stock futures, as the case may be, must be completed within six months.

The settlement mechanism shall be decided by the Stock Exchanges in consultation with the Depositories.

On expiry / exercise of physically settled stock derivatives, the risk management framework (i.e., margins and default) of the cash segment shall be applicable.

Settlements of cash and equity derivative segments shall continue to remain separate.

 

[praveen taneja]

NEWS NEWS & NEWS ONLY


Nifty futures to be traded on Chicago bourse from 19th July

SC rejects Pyramid Saimira's plea to lift trading ban

Govt to consider import duty on wheat on record output

Indian mobile users to touch 993 million mark by 2014: Gartner

MCX-SX irked by delay in SEBI’s nod for new products

Pawar confident of better production despite monsoon hiccups

Power ministry seeks data on gas availability

India adds 12.29 million GSM subscribers in June

Food inflation to fall in 2 weeks: Basu

Ministry wants ban, immediate duty hike on iron ore exports

Confer industry status to retail sector: Assocham

TRAI extends date for feedback on unsolicited calls

TDSAT orders BSNL not to disconnect Tata Tele from its network

Tata Motors to hike Nano prices by up to 4%




Corporate Wrap-up


McNally Bharat Engineering gets orders worth Rs39 crore from Marg

Petronet LNG appoints Dr AK Balyan as MD & CFO

IL&FS consortium wins four laning of Jorabat-Shillong project from NHAI

Chambal Fertilisers Q1 net increases to Rs63.7 crore

BASF Q1 net profit up to Rs48.9 crore on robust revenues

Cera Sanitaryware FY net profit up Rs19.6 crore

Honeywell Automation Q2 net profit declines to Rs22.9 crore

Supreme Industries Q1 net profit Rs144.8 crore v/s Rs97.4 crore

Sun Pharma gets FDA approval for generic Flomax

 

[praveen taneja]

Come Sept., ULIPs will become less attractive than traditional plans. Who gains, who loses?

Unit-linked insurance plans (ULIPs), the mainstay of insurance companies, would become less attractive from 1st September. The Insurance Regulatory and Development Authority (IRDA) has set out new norms for ULIPs that mean lower commissions and lower surrender charges, which insurance companies bemoan may be good for the consumers but would deal a body blow to the insurance companies...

 

[praveen taneja]

Single consolidated statement of mutual fund (MF) holdings will soon become a reality for MF investors. This, in other words, would mean MF investors holding MF units in different fund houses will soon be able to get one single statement. Market regulator Securities and Exchange Board of India (Sebi) has apparently asked all the registrar and transfer agents (RTAs) to club investor data together. Computer Age Management Services (CAMS), Karvy MF Services, Deutsche Investor Services and Franklin Templeton today provide RTA services to the mutual fund industry.

“This was an expected move from Sebi given that in a recent summit,” Sebi executive director KN Vaidyanathan had hinted on introducing the single view statement. “We are planning to put in place a mechanism where the investor will get a single view of their investments,” he said. CAMS president & CEO NK Prasad said, “We are working on it for a long time, but we haven't received any final approval from the regulator. Some of the issues are being discussed and we hope it will be sorted out.”

If implemented, this move will be of immense benefit to MF investors. Today there are operational issues that a mutual fund investor has to grapple with. For instance, an investor is given multiple folio numbers, for investing in different schemes and fund houses. And over the years, he accumulates multiple folios which he can't keep track of. And usually, at the end of the financial year, multiple mails of fund houses hound him with statements informing cost of your units and its current NAV. In the process, investor lose track of his investments. Some fund houses are also known to smartly ignore investors who they categorise as 'dormant' and don't communicate to them.

Market sources expect such platform for single view statement to be ratcheted up in next one month or so. Recently, National Securities Depository (NSDL) had started a similar facility for holding mutual fund units in dematerialised form. But the Sebi initiative, is more awaited as it is likely to come at zero cost for investors.

Source: http://www.financialexpress.com/news/consolidated-mf-statements-soon/647111/

 

[Shravan Reddy]

Hi PT Bhai,

As there is RBI meeting on 27th July..
what happens if RBI
1)Increases the interest rates
2) keeps them intact
3)Decreases the interest rates(which may not happen)...
how will the market react to the decision of RBI..
I am in the learning process and please help me with ur thoughts...
Many thanks.. :thumb:

 

[san_]

in need of help urgently
i know the Q am askin is not appropriate to the post
but plezzzz


i short selled UBL and now it is at only buyers situation...
wat can be done
plezzz suggest...
help needed urgently

 

[rajeabc]

in need of help urgently
i know the Q am askin is not appropriate to the post
but plezzzz


i short selled UBL and now it is at only buyers situation...
wat can be done
plezzz suggest...
help needed urgently

if you short selled and now only buyers then it good for you. price will go up. why are you worried ?