24 October 2013

PFC/IIFCL Tranche-I Tax Free Bonds Collection Figures at 3.00 p.m. as on 24/10/2013 (With Greenshoe Option)



Morgan Stanley -Global Strategy Outlook :: PDF link

Don’t forget to nominate:: Business Line

Your family’s comfort is of paramount importance to you. You have been diligently investing in mutual funds to cater to their future needs. But have you done the right paperwork to ensure that your family has access to your investments with ease, in case of an unfortunate event?
Nomination is both your right and responsibility. It ensures your investments reach your nominees easily. An investor can nominate a person, i.e. a nominee, to whom his/her mutual fund units will be transferred on his/her demise.
A nomination may be registered at the time of purchasing units. The application form has a provision for this that must be filled in. In fact, investors are asked to specifically indicate if they do not wish to nominate. If an investor has not registered a nomination at the time of application, he/she may register a nomination later. Forms are available at the mutual fund/registrar’s websites.
Multiple nominations are possible in a folio; minors too can be nominees. An investor may make up to three nominations for a folio and even specify the percentage of units that will go to the nominees.
A nomination can be changed at any time and even cancelled. Details are available on the website.

Morgan Stanley -The Fragile Five :: PDF link

Divergent views on market behaviour:: Business Line

That economists can seldom agree over anything has always been the case. The Nobel Prize for Economics this year drives home this point.
While Eugene Fama, the proponent of the Efficient Market Hypothesis (EMH) holds that markets are efficient such that stock prices fully reflect all the information available at any point, Yale professor, Robert Shiller has been one of the foremost critics of the theory.

EFFICIENT MARKET HYPOTHESIS

According to the EMH, markets are efficient. That is, at any point in time, they correctly factor in all the available information. That is, at a particular instant, the price of a stock reflects exactly what it is worth, it is neither undervalued nor overvalued.
As new information flows in, stock prices quickly change assimilating the additional news.
Thus any future change in price will be a result of only future news. That this future news is not known today implies that it is not possible to predict how the price will change in future and that any movement in price will, therefore, be random. So what are the implications of the EMH? If we go by this theory, it would imply that it is not possible to outsmart the markets (which have already factored in the existing information) and make money except by chance.

Practise trading online:: Business Line

Thinking of stock trading or just getting started on it? While you’re on the learning curve, your mistakes can turn out quite costly.
ICICIDirect has turned the learning process into a game through its ‘Virtual Stocks’ platform (virtualstocks.icicidirect.com). You register with an email address and you are ready to start buying and selling stocks. You are given virtual money worth Rs 15 lakh to purchase stocks and options to build a portfolio.
The performance can be reviewed to see how your strategy is paying off. If your trades generate profits, your virtual money increases and any losses lead to reduction in useable funds. The platform tries to simulate a real environment as it offers live quotes and lets you trade only when the market is open.
The tutorial and FAQs offered are also very helpful. But the drawbacks? For every stock quote you request, a new window opens up, leaving you with many browsers to close. A more user-friendly menu layout may help to navigate the game better.

Rakesh Jhunjhunwala’s bullish bets take D-Street by surprise, laps up beaten-down stocks:ET

Rakesh Jhunjhunwala did not sit idle when the markets went into a tailspin in the quarter ended September. He used the opportunity to buy into some new stocks while boosting his holding in others.

Some of his additional purchases would have been to take advantage of the recent plunge in share prices and to lower the average cost of his holdings and have surprised long-time Jhunjhunwala watchers. He has cut his stake in favourite high fliers like Titan Industries, Crisil and Lupin to buy beaten-down, old-economy laggards like Kesoram and VIP Industries.

Many of his stocks including McNally Bharat, Hindustan Oil Exploration, Prime Focus, A2Z Maintenance, Sterling Holiday, Viceroy Hotels and Alphageo have reported net losses for FY13.

It is a strategy that baffles some, but the old fox of Dalal Street may have a trick or two up his sleeve. ET takes a look at six stocks that he is bullish on and why.

FIRSTSOURCE

The RP-Sanjiv Goenka Group bought out Firstsource last year and the BPO major’s fortunes have been on an upswing since then. Margins expanded 214 bps to 11.7% versus 9.6% in Q1FY13, while return on equity rose to 9.3% from 2.2% in FY09.

Revenue grew 6% to Rs 723 crore, while net profit rose 42% to Rs 41 crore. The stock has risen 81% since Rakesh bought the shares in early July to Rs 19.55.