Skip to main content

Fundamentals April 10, 2013


Nik's Diary
The Indian markets opened in the green mirroring a positive opening in SGX Nifty, which is trading higher by 0.4%. Asian markets are trading mixed with the Hang Seng, Nikkei and Seoul Composite higher by 0.4% to 0.7%, while the Strait Times and Jakarta Composite are lower by 0.2% each. The US markets, after remaining directionless in early trade, rose higher during the course of the day, yesterday. The positive performance of the markets was partly due to tame inflation reported by China, which eased concerns that the People's Bank of China might tighten its monetary policy. US markets didn’t react much to the report released by commerce department which indicated that wholesale inventories unexpectedly dipped by 0.3% in February, although wholesale sales jumped 1.7%. The European markets ended Tuesday's trading session with mixed results after trading positively in the opening trade. Meanwhile, Indian markets posted losses for the fifth consecutive trading session in a row. The weakness in the markets was on account of concerns about both the domestic economic scenario as well as the uncertain political environment. 

TCS to acquire French IT services firm ALTI for €75mn
Tata Consultancy Services (TCS), on Tuesday, announced that it had signed definitive agreements to acquire 100 per cent equity in Alti SA, an IT services company in France. The deal, valued at 75 million euro (around Rs.530 crore), is an all-cash transaction, TCS said in a statement. The deal is subject to customary closing conditions. Alti SA has strong expertise in IT Services, including enterprise solutions, assurance and CRM solutions. It is privately held, and owned by its management and two private equity funds, CM-CIC LBO Partners and IDI. It reported revenues of 126 million euro in 2012, and its customers include top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors. Alti has 1,200 employees based in France, Belgium and Switzerland. “This acquisition underlines our long-term, strategic commitment to France, which is the third largest IT services market in Europe,” N. Chandrasekaran, Chief Executive Officer and Managing Director, TCS, said in a statement. The France IT services market is estimated at 30 billion euro. TCS has been operating there since 1992. It has over 50 clients in France and has significantly strengthened its position there. “The acquisition of Alti SA will help us serve our clients in France and across Europe more comprehensively with an expanded set of services and solutions, bringing the best of TCS to French corporations,” Mr. Chandrasekaran said. “This is a significant step that will benefit both our clients and employees,” Andre Bensimon, co-founder of Alti SA, said in a statement. Source: thehindu

Cairn India makes an oil discovery
Cairn India, on Tuesday, announced that it had made the 26th oil discovery in its Rajasthan block. The block management committee had approved the exploration work programme for the RJ-ON-90/1 block on February 14 after which Cairn India commenced drilling of its first exploration well, Raageshwari-South-1, on February 25 located in the southern part of the block. “Technical evaluations indicate about 10 metres of gross oil column within Dharvi Dungar formation. Oil has been discovered and tested for the first time in Dharvi Dungar sands in Raageshwari-Tukaram area, where previous discoveries were in the shallower Thumbli sands,” it said. The volumes of oil in place and the potential resource base associated with this discovery are under evaluation. Cairn India CEO P. Elango said the discovery in the block reaffirmed the company’s belief that an aggressive exploration drilling programme would help harness the full potential of the Barmer basin in Rajasthan. “This is a step closer towards reserve accretion through exploration-led growth,” he added. Source: the hindu




Comments

Post a Comment

Popular posts from this blog

You are still helping by fearing and staying away from equity investing !!!

Yes it is true. Retail investors help markets and its participants more by staying out than by investing in equities itself. Hence optimists like me, do not mind retail investors doing everything else other than investing in equity markets.  Let me tell you how it helps us. 1. Keeping your money in low interest bearing savings accounts will help banks raise cheap funds. In such a way you earn taxable 9% per year in fixed deposits and 4 % in saving accounts, whereas we  continue accumulating multi lac crore banks like HDFCBank, AxisBank, ICICIBank, SBI and like, which are up by any multiple between 3.5 times to 11 times since December 2008. Also, by paying all your EMI installments on time would help private banks stay out of trouble and we shall continue investing in banking sector with of course proper investment plans and goals. This is something retail investors lack and often end up burning their fingers. 2. Retail investors are more or less out of the mark...
Post a Comment
Read more

Fundamentals January 18, 2013

Nik’s Diary The Indian market opened positive, mirroring the positive opening of most of the Asian markets. US markets moved notably higher over the course of the trading day on Thursday after moving sideways over the past few days. The rally came following the release of upbeat employment and housing reports. The jobless claims fell to 335,000 (estimated 368,000), a five-year low, in the week ended January 12th from the previous week's revised figure of 372,000. Another report from the Commerce Department stated that the housing starts  jumped  12.1%  to  an  annual  rate  of  954,000 in December from the revised November estimate of 851,000. The European markets also finished in the green on Thursday, after the release of better than expected economic data in the US. Indian markets rose notable higher yesterday on reports that the government has permitted fuel price revision to reduce its fiscal deficit. Comments by Finance Minister, P. Chi...
Post a Comment
Read more

ITC beats street with Q3 net profit of Rs 2,052 cr, up 21%

Cigarettes major  ITC  reported a better-than-expected 21 percent year-on-year rise in third quarter net profit at Rs 2,052 crore, helped by strong growth in FMCG and agri businesses.Its net sales growth of 23 percent at Rs 7,627 crore also topped street estimates.Analysts on average had expected ITC to report a net profit of Rs 2,007 crore on revenue of Rs 7,220 crore, according to a CNBC-TV18 poll. "Overall ITC's results were good...Excellent performance of the non-cigarette FMCG business, good growth in the agri-business is driving growth," said Kaustubh Pawaskar of brokerage Sharekhan. The company saw its cigarette revenue rise 13 percent to Rs 3,657 crore, helped by the price hikes that it took. The analyst expects ITCs cigarette volumes would have grown around 1 percent in the quarter. The 64 mm cigarette that the company is test marketing currently should start contributing to its volumes couple of years down the line, he feels. Its other FMCG sales, whic...
Post a Comment
Read more