Tag: reading

Friday’s action: Dow +0.39% to 13649. S&P +0.34% to 1486. Gold +0.39% to $1691. London+0.36% . Germany –0.43%. France -0.07%.

With India’s key equity indices trading near all-time highs after a prolonged lull, private equity (PE) funds are feeling the heat from investors to cash out from their investments in public equity even as several mid and small cap shares, which constitute a majority of PE investments, continue to lag behind. (MINT)

SEBI has provided an option to institutional investors to bid for shares without paying any margin, but such bidders cannot cancel or revise the bids to a lower price, but can raise them, a move that will benefit the government’s divestment program and companies to meet minimum public holding rules. (ET)

VIX, retreated 8.2 percent to 12.46 today and has tumbled 45 percent since Dec. 28 whereas the markets have moved up 6% during the same period. And is at its lowest level since April 2007. The index measures the cost of using options as insurance against losses in the S&P 500, which has risen 6 percent in three weeks. The story is similar for Indian VIX as well. (Bloomberg)

Reliance Industries [stockquote]RELIANCE[/stockquote] has bought back shares worth over Rs 3,900 crore from public shareholders through an about year-long share repurchase programme, achieving just about 38 per cent of the target. Market analysts believe the purpose of the buyback was price stability and ensuring investor confidence in the stock, which the company has successfully achieved. (ET)

On January 10th the interest rate on Spanish ten-year government bonds fell below 5% for the first time in almost a year. The cost of new government borrowing is now about 2.5 percentage points lower than it was when worries over a break-up of the euro area peaked in July 2012 . The rate on ten-year Italian debt is approaching 4%, which is also close to 2.5 percentage points off the highs last year. (Economist)

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Market roundup: Dow +0.63% to 13596. S&P +0.56% to 1481. Gold +0.08% to $1689. London +0.46% . Germany +0.58%. France +0.96%.

US stocks climbed on Thursday, with the S&P 500 advancing to a five-year intraday high on signs of strength in the housing and job markets and on better-than-expected results from online marketplace eBay. Asian markets seem to be high on the same ground as well. (Bloomberg)

The government has deregulated the diesel prices and has authorized state-run oil marketing companies to raise diesel prices in small amounts from time to time. Although, the partial diesel deregulation is an important step forward, its proper implementation is key to bring about the intended change. BPCL[stockquote]BPCL[/stockquote], IOC[stockquote]IOC[/stockquote] and HPCL[stockquote]HPCL[/stockquote] were up 3%-6.5% yesterday .(MINT)

Air India today temporarily stopped operations of its Boeing 787 Dreamliner aircraft on the directive of the country’s aviation regulatory authority, the DGCA. This decision was taken after US Federal Aviation authority directive warned of a potential fire hazard on the aircraft. (ET)

When it comes to core operating profit, state run banks will likely have a dull third quarter as a slowdown in economic activity forced companies to rein in their capital-intensive projects. Bad debts at 5.54% are a major cause of concern. IDBI [stockquote]IDBI[/stockquote] comes out with its Q3 result today. [MINT]

When the economic crisis erupted in 2008, many Europeans assumed they were facing a couple of bad years. But the crisis, now in its fifth year, seems to go on and on, using up unemployment benefits, eating through savings accounts and dashing dreams of an easy retirement. Here is an account of what is the condition around the European countries in a photo-journalistic format with no way out in sight. (NYTIMES)

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Market roundup: Dow –0.17% to 13511. S&P +0.02% to 1472. Gold -0.20% to $1679.70. London  –0.22% . Germany +0.20%. France +0.30%. Nifty -0.90%.

Last month, DLF [stockquote]DLF[/stockquote] announced a deal to sell its stake in luxury hotel group Aman Resorts. Last year, it sold another hotel firm in Kolkata and also a large land parcel in Mumbai. And now in order to cut back on its debt, DLF is set to divest its wind energy business to Bharat Light and Power. (ET)

IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry of conglomerates into banking. It’s a good idea to learn from the mistakes made by the west and not rush into giving away banking licenses. (MINT)

Production at U.S. factories climbed more than forecast in December and the cost of living was little changed, showing the economy gained momentum entering 2013 while inflation remained at bay. The 0.8% advance in Manufacturing output and unchanged consumer-price index were not enough to boost the markets after the gloomy growth projections made by World Bank on Tuesday. (Bloomberg)

Accrding to SEBI guidelines all listed firms (outside government control) need to have a minimum public shareholding of 25%, while state-controlled ones need to have at least 10% stake held by public. In order to achieve this, SEBI may soon enable preferential allotments and qualified institutional placements (QIPs) as legitimate routes in the list of alternatives. (MINT)

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Market roundup: Dow +0.20% to 13534. S&P +0.11% to 1472. Gold -0.09% to $1682.30 London–0.15%. Germany –0.69%. France –0.29%.

The World Bank forecast that global gross domestic product will inch up 2.4 per cent this year, from 2.3 per cent in 2012. In its last forecast in June, the bank projected global growth would reach 3.0 per cent in 2013. Will the new growth approximations have an impact on the roaring markets? (ET)

Axis Bank Ltd [stockquote]AXISBANK[/stockquote] did well in the December quarter, with its net interest income rising by 16.6% over the year-ago period. Some analysts had expected growth of 12-13%, primarily because of a high base effect. After IT its now time for our banks to shine. HDFCBANK and IDBI results expected by end of this week.  (MINT)

India’s antitrust body has sought more details on the acquisition of United Spirits Ltd (USL) by Diageo Plc to make sure that the merger doesn’t create a monopoly. [stockquote]USL[/stockquote] controls over half of India’s 250 million cases liquor market and owns brands such as McDowell’s No.1 and Bagpiper. Mr. Mallya will have to wait for a bit more to see the deal through. (MINT)

SEBI has proposed allowing gold exchange-traded funds to park up to 20% of their gold holdings with commercial banks against 100% maintained currently. The suggestion is in line with a similar proposal made by the RBI recently to put the gold corpus of ETFs to productive use and, thereby, curb India’s huge gold imports. Let’s wait to see how this impacts performance of various GOLD ETF’s like [[stockquote]GOLDBEES[/stockquote], [stockquote]KOTAKGOLD[/stockquote] etc. (ET)

How is Facebook’s new search tool (Graph search) going to fare with Google’s long standing search engine? Mark Zuckerberg unveiled a feature to help its users search for people and places within the social network, in the first major product launch event since company’s IPO in May last year. Will it be a decisive factor in the competition amongst the two? (MINT)

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Market roundup: Dow +0.14% to 13507. S&P –0.09% to 1470. Gold –0.15% to $1667.60 London –0.22%. Germany +0.18%. France +0.06%

Markets rallied 1.22% on Monday, after the government announced deferring the implementation of controversial tax-avoidance rules until 2016. The decision to defer GAAR would stimulate business confidence of investors, which had taken a beating with the introduction of tax proposal. (ET)

The spread between gold and platinum narrowed to $31.30 an ounce, its smallest since last April, after platinum staged its biggest two-week rise in about four months on growing expectations of global economic recovery. Is Platinum on a come-back run? (ET)

Financial sector funds recorded their sixth straight week of inflows as the strength and depth of support from central banks overshadowed news of more cost cutting. US averting fiscal cliff, signs of economic recovery in China keep investor sentiment upbeat. (MINT)

TCS [stockquote]TCS[/stockquote] net profit for the three months ended December rose 26.7% from a year earlier, beating analysts’ expectations in a seasonally weak quarter and auguring well for the troubled $70 billion Indian information technology (IT) exports business. (MINT)

And on a totally unrelated front, Coke is now going to address obesity in Ads after becoming one of the world’s most powerful brands by equating its soft drinks with happiness.. (ET)

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