First Blog for Indian Financial Market

Inflation eases down to 8.9 percent for week ending november 8

admin — Thu, 20 Nov 2008 06:47:40 +0000

Inflation data has come out morning itself which has stared to give atleast some 50 point releif to the market , the infation for the week ending november 8th stands at 8.9 compared to 8.98 week over week.I saw Mr Rao , wno is from Yes bank started predicting that the inflation will come down to 4.85 percent almost by next year 1st QTr , they are the same analyst who said that next year starting it would see single digit inflation which came like 2 months before itself .So nothing is for sure , We are just not yet into recession which almopst every country is seeing .
What made the Inflation to come down

WPI for commodities down by 0.2% WOW
Fuel group: down 0.9% WoW.
Light and diesel prices: down 11% WoW.
Furnace oil prices: down 9% WoW.
Aviation fuel prices: down 5% WoW.

Atlest for the last one the aviation fuel price which has gone down heavily will play some factor in getting the inflation down , so we can expect the inflation to go doqwn more in coming weeks.This is like good time if they start reducing the oil prices vegetables price might go down and other transportation charges will be less , thus it will help the inflation to go down more.

Post from: First Blog for Indian Financial Market

Inflation eases down to 8.9 percent for week ending november 8

Sensex Down by 400 points even after Inflation Data

admin — Thu, 20 Nov 2008 06:40:50 +0000

Sensex down by more than 400 points or so due to global bourses melt down , bifty down by almost 123 points or do , Realty down by 7 percent or so ,Bank down by more than 6 percent , Metal,Auto and Power sector almost all down by more than 5 percent.Asian market aslo over all down between 2 to 7 percent.Inflation data also have eased for this week will talk about that in the next post.

Post from: First Blog for Indian Financial Market

Sensex Down by 400 points even after Inflation Data

Dow Jones Below 8000 points

admin — Thu, 20 Nov 2008 03:38:45 +0000

Dow jones Industrial average today went down by more than 427 points to close below 8000 points at 7997 points ,So Dow ,Nasdaq and S&P 500 closed at 5 years low.US market which after a long time went up yesterday had erased all the gain it had yesterday , The Market dint have any good news to go in green, Investors are concerned over the fate of U.S. automakers,and very disappointing economic data, and very bad outlook from the Fed left the market in deep red.
Market Movers
>S&P 500, Nasdaq take out 5-year intraday lows
>CPI falls by a larger-than-expected amount of 1.0% in October, largest seasonally adjusted monthly drop since at least 1947
>Housing starts, building permits fall to record low in October
>Fed cuts economic growth forecasts for 2008, 2009 and 2010
>Automakers fall as executives testify to House Financial Services Committee in an attempt to get a loan

Post from: First Blog for Indian Financial Market

Dow Jones Below 8000 points

Maruti Suzuki Launches A-Star

admin — Wed, 19 Nov 2008 09:01:07 +0000

Maruti Suzuki Launches A-star today , November and December is normally tough time for Auto industry Maruti suzuki kas released A-Star in order to win some customers in a slowing down market , Maruti A-Star goes head to head with Huyindai’s i-10 ,First impression is the interior is kind of good in Hyundai i-10 but the exterior is kind of good in Maruti A-Star let it run on the road we can see more info.

Export Details

A star will be made in 200 variants and exported to 150 countries across Europe, Middle east , Latin America, Asia, Australia, and Africa.It will be exported under the name of Suzuki Alto and Suzuki Celerio. Nissan also plans to market the same car under the name Nissan Pixo in middle East and African markets.

Price - Ex showroom Delhi Price.

>A-star Lxi - Rs3,46,775
>A-star Vxi - Rs3,74,775
>A-star Zxi - Rs4,11.775

Get other Car Details from here.

Post from: First Blog for Indian Financial Market

Maruti Suzuki Launches A-Star

US Market up after a long time

admin — Wed, 19 Nov 2008 04:23:16 +0000

US market up yesterday after a long time not sure when it was up lastly , Dow jones was up by 1.8%.Standard & Poor’s 500 (SPX) index up by 1% .
Market Movers

>Hewlett-Packard issues upside fourth quarter and fiscal year 2009 earnings guidance
>Fed Chairman Bernanke, Treasury Secretary Paulson and FDIC Chairman Bair testify before House Financial Services Committee regarding $700 billion financial relief bill
>PPI falls by a larger-than-expected amount due to decreasing energy costs, but core PPI increases more than expected

Post from: First Blog for Indian Financial Market

US Market up after a long time

Sensex Down by almost 350 points

admin — Tue, 18 Nov 2008 18:21:17 +0000

Sensex started the market down by almost more than 300 points and it was in red the whole day , lot of factors weighed in almost i can see finance minster doing whatever possible speech to get the market up nothing was working , he was saying Government is taking all the measure to bring the economy up , he was saying there might be some excise duty cut which might increase the factory output.He was also saying that India might miss the 200 billion dollar annual export target for this year.RBI governor told RBI is ready to take necessary action at the right time .So there was nothing that helped the market to go up .The SENSEX was down by 354 points to close at 8937 points.

Post from: First Blog for Indian Financial Market

Sensex Down by almost 350 points

BHEL bags order worth 1325 crore from Andhra Pradesh

admin — Tue, 18 Nov 2008 11:22:35 +0000

BHRL infromed the market that they have bagged order worth 1325 crore.The opder is for supplying and installing of main plant package at a power project in Andhra Pradesh.The order is from Andhra Pradesh Power Generation Corporation (APGENCO) and the order is to set up a 600 MW thermal power generating unit in Warangal district.

Post from: First Blog for Indian Financial Market

BHEL bags order worth 1325 crore from Andhra Pradesh

Parsvnath Developers joins hand with SAN JOSE Consortium for bidding Projects

admin — Tue, 18 Nov 2008 11:18:04 +0000

Parsvnath Developers Ltd has informed the market that they have signed MOU with Constructora SAN JOSE Consortium to bid for Infrastructure Development works.San Jose Consortium is a a subsidiary of Grupo SAN HOSE, a leading infrastructure company in Spain.They have already togeather submitted request for qualification (RFQ) to National highways Authority of India (NHAI) and has been qualified to submit the financial bid for the construction of an elevated expressway on NH-4. The contract valued at Rs 12.2 billion.

Post from: First Blog for Indian Financial Market

Parsvnath Developers joins hand with SAN JOSE Consortium for bidding Projects

Mundra Port and Special Economic Zone signs MOU with NYK

admin — Tue, 18 Nov 2008 11:11:46 +0000

Mundra Port and Special Economic Zone Ltd has informed the market that they have signed a MoU for setting up a world class dedicated automobile terminal with Nippon Yusen Kaisha (NYK) of Japan.Nippon Yusen Kaisha is world famous for its auto terminals they have around the worlds harbor and also they are famous for the extensive fleet of Ro-Ro ships offering regular sailings to and from the major ports around the world.This would bringin mroe revenue for Mundra Port.

Post from: First Blog for Indian Financial Market

Mundra Port and Special Economic Zone signs MOU with NYK

Sankhya Infotech bags order from NTPC

admin — Tue, 18 Nov 2008 11:05:31 +0000

Sankhya Infotech informed the market today that they have bagged order from NTPC.Sankhya has won a long term contract from National Thermal Power Corporation for high-end simulation and virtual training systems.

Post from: First Blog for Indian Financial Market

Sankhya Infotech bags order from NTPC

US Market down on Economic Concern

admin — Tue, 18 Nov 2008 04:19:03 +0000

MArket started ok but when the CITIGROUP announced that they are going to cut the workforce it weighed on the investor sentiment which was already down due to economic concern .

Dow Jones industrial average (INDU) down by 223 points, or 2.6%.
Standard & Poor’s 500 (SPX) index fell 2.6%.
Nasdaq composite (COMP) down by 2.3% its a 5 and half year low.

What Moved the market

>Citigroup to cut more than 50,000 jobs, roughly 14% of its workforce
>Industrial production increases by a larger-than-expected amount in October
>Lowe’s warns that consumers will continue to delay discretionary home improvement purchases
>Target suspends share repurchases

Post from: First Blog for Indian Financial Market

US Market down on Economic Concern

Citigroup to cut more than 52000 jobs

admin — Mon, 17 Nov 2008 19:10:20 +0000

US market is kind of silent otherwise it would have been a normal bearish open with nothing to bother the marekt , The citigroup job cut kind of started the week on a bad note , Citigroup had said that it will cut more than 52000 job cuts byt the end of the year and some over next year starting .

The holiday season might not be good for some people .It would have the workforce reduce to almost 300,000 from 352,000 employees.This is kind of reduction of almost 20 percent in its workforce from where they were last year.
Half of this cut come out of sale in there division and remaining half would be cut both Domestic and International so it might happen in India also who knows.

Post from: First Blog for Indian Financial Market

Citigroup to cut more than 52000 jobs

Sensex Down for the fourth Straight day

admin — Mon, 17 Nov 2008 18:50:22 +0000

Sensex started as if it would close green only but it saw a very big swing today it recovered 330 points but closed down by 94.91 points or 1.01% to 9,291.01 after swinging 479 points in volatile trade between the day’s low of 8956 and high of 9435 .At least it closed above 9000 points.

Market in fact opened in green after weekend announcement by RBI that it will shield the Indian economy from the global economic slowdown .But the market started broking down after seeing all it neighbors started going down , Japan for the first time in seven years went clipped to recession in the third QTR of the year.
Realty sectors are the worse hit sector today as it had concerns if the banks would them loan.

Post from: First Blog for Indian Financial Market

Sensex Down for the fourth Straight day

Larsen Toubro bags order worth 1637 crore

admin — Mon, 17 Nov 2008 18:39:35 +0000

>Larsen & Toubro has secured a major order valued over Rs 700 crore order from HPCL - Mittal Energy, a joint venture of Hindustan Petroleum Corporation and Mittal Energy Investments.
Larsen toubro also bags 3 major order worth 937 crores from Delhi and Andhra Pradesh

>An EPC water supply project of value Rs 582 crore was bagged by L&T from Hyderabad Metro Water Supply and Sewerage Board (HMWSSB) The contract period is of 24 months.
>Two EPC projects from Delhi Jal Board valued at Rs 355 crore were secured by L&T. Both projects are to be completed in 21 months.

Post from: First Blog for Indian Financial Market

Larsen Toubro bags order worth 1637 crore

How to Close Demat Account

admin — Fri, 14 Nov 2008 10:43:13 +0000

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)

Post from: First Blog for Indian Financial Market

How to Close Demat Account

Carribean Development Bank Chooses Oracle Finacials FlexCube

admin — Fri, 14 Nov 2008 10:23:37 +0000

Oracle Financial Services which was formerly called as iflex has informed the market Caribbean Development Bank, which is one of the largest and most prominent development finance institutions in the Caribbean has selected its banking product Flexcube to meet its requirements for a state lending platform.

Post from: First Blog for Indian Financial Market

Carribean Development Bank Chooses Oracle Finacials FlexCube

Dow jones Up by 552 Points

admin — Fri, 14 Nov 2008 04:09:15 +0000

Dow gained almost 552 points after loosing almost 300 to 400 points , totally it had a swing of 880 to 900 points between day’s low and high.The market opened with a positive turnaround evcen after hearing that the jobless rate went to 7 years high of 516,000 , but soon market turned to red after opening and finally when it closed it was up by 7 percent after going down by 4 percent .
What moved the market

>Weekly jobless claims and continuing jobless claims rise more than expected
>Intel cuts outlook
>Wal-Mart posts positive EPS surprise, but guides below expectations

Post from: First Blog for Indian Financial Market

Dow jones Up by 552 Points

Inlfation for week ending November 1 at sigle digit

admin — Thu, 13 Nov 2008 09:20:45 +0000

Market is close today for GuruNanak day , Meanwhile the Inflation data has come out and its really very good data if the govenment data is right , The inflation stands at 8.98 percent which is down by 1.74 percent from 10.72 percent for week ending before November 1st 2008.This is good time that they reduce the oil price that can see more effct on vegetable prices so the inflation can still go down .The reason for this much reduction is fuel items like naphtha, jet fuel, furnace oil and light diesel oil was less compared Week over Week data.

Post from: First Blog for Indian Financial Market

Inlfation for week ending November 1 at sigle digit

US Stock Market crashed by 411 points after recession fear

admin — Thu, 13 Nov 2008 03:53:17 +0000

US Stock Market crashed by 411 points after recession fear , they can better say that they are in a prolonged recession rather than everyday fearing if they would really have recession or not , nothing was good for US market today , The #1 Consumer retail shop BEST BUY lowered the earnings guidance for fiscal year 2009 , and also they said they have never seen a difficult condition that this , There was another blow from Treasury Paulson saying $700 billion bailout fund will no longer buy troubled assets; may buy stakes in non banking companies.So these all paved way for the Dow to crash by 411 points.
What moved the market

>Best Buy issues downside earnings guidance for fiscal year 2009, says this is the most difficult climate its ever seen
>Treasury Secretary Paulson speaks about $700 billion TARP; will no longer buy troubled assets; may buy stakes in non banking companies

Post from: First Blog for Indian Financial Market

US Stock Market crashed by 411 points after recession fear

Canara Bank Reduces Home Loan Rate by 75 basis points

admin — Wed, 12 Nov 2008 18:16:39 +0000

Canara Bank has informed the market after it reduces the BPLR it has also reduces the Housing loans by 75 basis points sanctioned on or after November 10. For tenures of up to five years, the rate will now be 9.50 per cent for loans up to Rs. 30 lakh and 10.25 per cent for loans above Rs. 30 lakh. This floating rate.

Post from: First Blog for Indian Financial Market

Canara Bank Reduces Home Loan Rate by 75 basis points

Asian CERC Information Technology changes name to Religare Technova Global Solutions

admin — Wed, 12 Nov 2008 18:04:00 +0000

Asian CERC Information Technology informed the market that the name of the Company has been changed from “Asian CERC Information Technology Ltd” to “Religare Technova Global Solutions Ltd” from November 12th 2008.

This company i know because they supply stock data to most of the sites, not just stock info i ment company info , Company news and also they take part in maintaining the data for Bseindia.They have been bought over by Religare and group of company.
About Religare Technova
Religare Technova is the IT arm of a multi-billion dollar diversified Indian transnational group, pursuing aggressive business interests in Financial Services, Health Care and Wellness, Aviation & Travel and IT services. Other group companies include Religare Enterprises, Fortis Hospitals, Religare Wellness, Religare Superlabs and Religare Voyages.

Post from: First Blog for Indian Financial Market

Asian CERC Information Technology changes name to Religare Technova Global Solutions

Sensex Down by 303 points

admin — Wed, 12 Nov 2008 17:53:38 +0000

Sensex saw another crash today , Market was down almost 303 points or almost 3 percent to close at 9,536.33, This is good compared to the 500 points crash that happened midway before closing , Market totally has gone down by 1000 points or so for 2 days , Whole Asian market was in RED,Sensex had some relief in the middle when the industrial data came out but that also dint stand for more than some hour.

Post from: First Blog for Indian Financial Market

Sensex Down by 303 points

India’s Industrial Production for September 2008 announced today

admin — Wed, 12 Nov 2008 16:47:05 +0000

Industrial production data came out today and its kind of improving compare to previous month data but really less compared to previous year data.The IIP was at 4.8 percent from a revised 1.4% growth in August 2008 , So Cumulative figure from April-September 2008 period was 4.9 percent which is almost 4.6 percent less compared to 9.5 percent, during the corresponding period last year.

Post from: First Blog for Indian Financial Market

India’s Industrial Production for September 2008 announced today

US Market Down for the Second day by 177 points

admin — Wed, 12 Nov 2008 04:19:26 +0000

US market fell for the second consecutive day on Tuesday as economic fears and a prolonged recession and worries about corporate earnings all where overshadowed by information that US government for plan to help prevent foreclosures.So there was nothing in the market that helped it to go up.
What moved the market

>American Express gets Fed approval to convert to a bank holding company, will give it access to bailout package, other Fed measures
>Analysts slashing earnings estimates as economic outlook weakens
>Government to modify some GSE mortgages in an effort to prevent foreclosures

If the Global market goes like this soon we can see sensex hitting October 27th low.

Post from: First Blog for Indian Financial Market

US Market Down for the Second day by 177 points

Telecom GSM Number Released for October 2008

admin — Tue, 11 Nov 2008 19:08:36 +0000

Telecom authority of India released the October GSM number and the number is kind of good for the telecom company , its still in the increasing path like how it had been from the starting of the year.Going over the major telecom company GSM number .
>MTNL has added 66,097 subscribers in Oct 2008 versus 38,478 in Sept 2008
>Spice Communications has added 37,385 subscribers in Oct 2008 versus 36,614 in Sept 2008
>Idea Cellular has added 1.2 million subscribers in Oct 2008 versus 1.1 Million in Sept 2008
>Bharti Airtel has added 2.72 million subscribers in Oct 2008 versus 2.7 million in Sept 2008
More details of other telecom operators coming soon , but still Airtel is kind of the leader when it comes to GSM connections.

The value you see below is kind of cumulative number starting from January of 2008 to September 2008.If you need this detail please mail me i can send this in excel.

Post from: First Blog for Indian Financial Market

Telecom GSM Number Released for October 2008