Bank of Maharashtra has informed the market that the company in collobaration with various broking houses has launched its own online share trading service called MAHA e-trade service, This is specifically for the for the Bank’s customers w.e.f. February 08, 2010.The various broking house that has tied up with the bank for this service are as follows.
> Religare Securities Ltd. (RSL)
> Enam Securities Direct Pvt. Ltd. (ESDPL)
> Munoth Capital Market Ltd. (MCML).
In view thereof, a special live trading session will be conducted by the Exchange on Saturday, February 06, 2010. The timings of the special LIVE TRADING session for the Cash Segment are given below:
Session starts at 09 : 50 a.m. and ends at 10 : 50 a.m.
and Continuous Trading* from 11 : 00 a.m. to 12 : 30 p.m.
and Closing time from 12 : 30 p.m. to 12 : 40 p.m.
and Post Closing from 12 : 40 p.m. to 1 : 00 p.m.
and Member Query and 6A / 7 A entries from 1 : 00 p.m. to 2 : 00 p.m.
and the facility to enter block deal orders on Saturday, February 06, 2010, will be available from 11.00 a.m. to 11.35 a.m.
The trades done on Saturday, February 06, 2010, shall be settled on Tuesday, February 09, 2010 as a separate settlement, i.e., Sett.No.DR-211/09-10. Accordingly, the members are requested to refer the revised Settlement Programme i.e. Notice No.20100203-31, for further details.
Financial Technologies India Ltd has informed the market that it has signed today an agreement that the Company has signed an agreementand also have sold (secondary sale) 5 percent stake in the present equity share capital of MCX Stock Exchange Ltd (MCX-SX) to IFCI Ltd (IFCI) at Rs 35/- per equity share.
All the speculations was cleared yesterday in US about the Joint venture of Smith Barney and Morgan Stanley , Smith Barney which was the share broking division of Citibank has sold themselves for 2.7 billion dollar for a stake of 51 percent to Morgan Stanley.Morgan Stanley said it reserves the right to raise its stake in the joint venture over the next three to five years, before ultimately assuming control after five years.This will give them a combined saving of 1.1 billion dollars.Now this has created one of the nation’s largest brokerages, with more than 20,000 financial advisors and $1.7 trillion in client assets.
I know lot of people would have opened Demat Account during the bull period to make some money and i have sevral request asking how to close the Demat account ,If you have no stock in it then its easy we can just call them or submit a form to close it , but if you have a scrip in it which is like non trading stock then you will end up in a difficult situation.
Steps to close account with Dead scrip
>If we have a Dead scrip only option you have is to may be send that scrip to your parents or friends account which has other scrip so they will not close the account soon (or)
>They can Rematerialize tyhe Stock and convert to certificate in which case , it will be chucked out of the demat account .(see link here for more details)
This year should be officially declared as Year of Merger and Bankruptcy in US.Morgan Stanley is looking for a option to merge itself with with Wachovia Corp. and several other banks, The problem is even after a showing a profit they cant stop the falling price of there stocks and in order to regain investor confidence they need to do something that’s better for investor and also the company .Will let you know on further development on this.
When we hear of the news of lehman brother is going to file for bankruptcy the first thing that comes to our mind is the day when bear and stearns sold all its holding in indian company ,So same thing might happen to the holding that Lehman brother has in indian company , they might just sell the stock in the market at whatever price they can to cover losses , so please see if you hold any of these company and make a wise decision .For info Lehman Brothers are considered as FII for indian market , so they do hold lot of company in its portfolio.
List of Indian Company that Lehman Brothers Hold
>Anant Raj Inds.
>Godawari Power and ispat
>KPIT Cummins Info
>Nava Bharat Ventured
>S Kumars Nation
>Triveni Engg Ind
>Vijay Shanthi Builders
>West Coast Paper
Everybody know now why all the world market is tanking tis because of single known reason that Lehman Brothers showed a huge loss and now there is o one to buy into Lehman Brothers Business , and the Talk that went over the weekend with barclays and other buyers did not go through , So Lehman Brothers Holdings Inc. said that thwy will file for Chapter 11 bankruptcy protection and also continue business while it explores the sale of its broker and investment-management units and other strategic alternatives.This has almost rattled the whole global market as it might sell its holding in several market across globe which might get the market down.
I kknow what comes into everyone’s mind , is it Merrill lynch or Lehman brothers that should a loss like previous week , i was also expecting Lehman brothers to be bought by some one not Merrill Lynch.Merrill Lynch, one of the third-biggest U.S. securities firm by market value has agreed already to get sold to Bank of America after they had a meeting over weekend at the Federal Reserve Bank of New York , they might have come to this decision after they saw the fate of there smaller rival firm Lehman Brothers Holdings Inc.They have finalized the deal at 44 billion dollars.
Payment will be in Bank of America stock, and its expected at $29-a-share purchase price if you see that the 29$ is below 70 percent price of stock’s January 2006 record, but its 70 percent more than the closing price of $17.05 on Sept. 12. Im thinking may be they should have waited till the result see the huge loss it might show like Lehman brothers and then get the company under 10 dollars or so .
Financial Technologies (India) has informed to the market that it has sought Sebi’s approval for its subsidiary, the Multi Commodity Exchange, to trading in currency futures , we all know that Financial technology holds like 32% in the Multi Commodity Exchange (MCX). On the financial side the net profit of Financial Technologies rose 583.58% to Rs 169.87 crore on a 295.87% rise in total income to Rs 254.03 crore in Q1 June 2008.Thw EPS almost stands at 140 or more than that discounting thwe PE at 10. or so , the Stock rose yesterday by 2.3 percent or so.
Edelweiss Capital informed the results for quarter ending june 2008.It has posted net profit of Rs 63.7 crore for the qtr end June 2008 as against Rs 82.55 crore in previous quarter. Edelweiss Capital Q1 net sales at Rs 159 Cr Vs Rs 404.8 Cr (QoQ).The Profit is also ok considering the market sentiment , the sales figure is the one which is bothering .
HSBC will acquire 73.21% IL&FS Investsmart. HSBC proposes to acquire a 43.85% from e*trade Mauritius and 29.36% IL&FS. HSBC will also make open offer to acquire up to 20% remaining shares in Investsmart at Rs 200/share, which comes at $ 241.6 million which is like almost 1000 crore.HSBC will pay IL&FS Rs 82 crore as a part of 3 year non-compete agreement.
Geojit Financial Services showed a Net Profit raise of 25.08% to Rs 7.63 crore in the march 2008 end qtr compared to same YOY qtr of rs Rs 6.10 crore .But Sales saw a good increase of 83.43% to Rs 49.36 crore vs 26.91 crore.
For the full year, net profit rose 128.22% to Rs 48.04 crore 2008 as against Rs 21.05 crore during the previous year ended March 2007. Sales rose 82.16% to Rs 190.87 crore in 2008 as against Rs 104.78 crore during the previous year ended March 2007.
Religare Enterprises reports net profit of Rs 2.24 crore in the Qtr of Dec 2007. Sales reported at Rs 5.19 crore in the Qtr of Dec 2007.
Indiabulls Financial Services rose 189.67% to Rs 105.15 crore in qtr Dec 2007 as against Rs 36.30 crore in qtr Dec 2006. Sales rose 374.15% to Rs 326.74 crore in qtr Dec 2007 as against Rs 68.91 crore in qtr Dec 2006.
Geojit financial declares Net profit which increased by whooping 307.96% to Rs 18.97 crore in the QTR End Dec2007 as against Rs 4.65 crore during the previous QTR End Dec2006. Sales rose 145.25% to Rs 69.70 crore in the QTR End Dec2007 as against Rs 28.42 crore during the previous QTR End Dec2006.
ICICI bank had a analyst meet on monday and almost all the big guys like Meryll Lynch , Edelweiss and other brokers whr there for the meet , There ICICI informed analysts and whats happening in all of the subsidies like ICICI Lombard General Insurance, ICICI Pru Asset Management, ICICI Securities, ICICI Venture and infromed that they want to sell some equity in ICICI securities , So this will be the first IPO to hit the Primary market from the Exisiting Subsidiary cradle , Infact i saw in Moneycontrol that they have priced the ICICI securities value at 85 to 90 rs putting up a whole value of 1.9 Billion US dollars.
Indiabulls Financial Services is trading at Rs 729 post demerger of Securities business the base price was set at 595 rs and it has already hit the upper cirucit and there are lot of orders pending to be traded.
India Infoline – Orient Global Invests Rs 555 crores (approximately USD 141 million) in the Company and its Insurance Subsidiary subject to shareholder and other approvals, if any. Orient Global will acquire 3.7 million shares in India Infoline Ltd representing 6.48% of the current equity capital.
Indiabull Wholesale Services Ltd (IWSL), is proposing to make an open offer under the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 for Piramyd Retail Ltd, a retail Company, wherein IWSL is proposing to acquire 63.92% of the equity share capital of Piramyd Retail Ltd from the existing promoters pursuant to which IWSL shall make an Open Offer to the public shareholders of Piramyd Retail Ltd to acquire up to 20% of the fully diluted voting capital of the Target Company at an offer price of Rs 74.73 per share / stock option.Pyramid retail is already at its 52 week high today and it was just 47 rupees month back and now tradin at 110 to 120 rs range.
Religare Enterprises ends with 182% premium At Rs 521.70 on BSE a premium of 182% over IPO price of Rs 185.The stock debuted at Rs 323.75, a premium of 75% over the IPO price. It touched a high of 600 and a low of 323.75.
Reliance Capital Ltd has posted a net profit after tax of Rs 2012.80 million for the quarter ended September 30, 2007 as compared to Rs 1671.50 million for the quarter ended September 30, 2006. Total Income has increased from Rs 2228.40 million for the quarter ended September 30, 2006 to Rs 3912.70 million for the quarter ended September 30, 2007.
Indiabulls Financial Services Ltd has received a letter from MMTC
dated October 23, 2007 where MMTC has stated that Govt of India,
Ministry of Commerce & Industry has approved the proposal of MMTC
for setting up of a multi commodities exchange in partnership with the
Company. For the purpose of setting up the multi commodities exchange
a SPV will be formed where MMTC will hold a 26% stake and the Company
will hold 74% stake. The equity capital of the SPV will be Rs 100 crores
and two shareholders in the SPV, MMTC and the Company will invest their
share of equity capital in the SPV on pro rata basis.
Geojit Financial has declared its Q2 results. The company registered net profit at Rs 10.5 crore versus Rs 5.72 crore.Total income rose 192% to Rs 437.50 million for the quarter ended September 2007 from Rs 226.80 million for the same period, last year.