Skip to main content

Fundamentals May 20, 2013

Nik's Diary
The Indian markets open in green tracking positive opening in most of the Asian markets, tracking a positive global lead after US indices notched another record finish on Friday. US markets moved sharply higher over the course of the trading day on Friday, benefiting from some upbeat US economic data as well as comments from a Federal Reserve official. Thomson Reuters and the University of Michigan reported that the preliminary reading on their consumer sentiment index for May came in at 83.7 compared to the final April reading of 76.4, which is the highest level since July of 2007. A separate report from the Conference Board showed that its economic index rose by 0.6% in April following a revised 0.2% decrease in March. Meanwhile Indian markets rose for a fourth straight session on Friday, driven by renewed FII buying, with power, capital goods and realty stocks led the gainers, while consumer durable, healthcare, metal and oil/gas stocks ended on a downbeat note. Sentiment improved late in the session amid reports global ratings agency Standard & Poor's has affirmed India's sovereign rating at BBB-minus with a negative outlook.

CAT directs cement companies to deposit `630cr
The Competition Appellate Tribunal has ordered some of the country’s biggest cement manufacturers to pay Rs 630 crore while it hears their appeal against a penalty imposed by Competition Commission of India last year. The Tribunal has asked the cement companies to pay 10 per cent of the Rs 6,307-crore penalty imposed on them for forming a cartel. The companies have been directed to deposit the penalty within one month from the date of issue of the order. In June last year, the Competition Commission(CCI) had found companies such as Lafarge India, India Cement, JP Associates, Binani Cement, Ambuja Cement, Madras Cement and JK Cement indulging in cartelisation. In the petitions, the cement producers had challenged the penalty imposed on them by the CCI and the Rs 73-lakh fine on the Cement Manufacturers Association. The order was passed following a probe by CCI based on a complaint filed by the Builders Association. CCI had found cement makers guilty of manipulating supplies and prices to post huge profits at the cost of consumers and the economy. A three-member Competition Appellate Tribunal Bench headed by Chairman Justice V.S. Sirpurkar asked the 11 cement producers and their lobby group CMA to pay around Rs 630 crore within a month. The Tribunal also said that it would dismiss the companies’ appeal if they failed to pay the fine on time. The Tribunal also refused to stay the orders of ‘cease and desist’ that was imposed by CCI. Sources said that the matter would now come up for final hearing in August. Meanwhile, industry watchers pointed that the cement makers can approach the Supreme Court challenging the interim order of the Tribunal. Interestingly, globally, too, cement makers are under the scanner of competition regulators. In recent times, Korea, Pakistan, Europe, Romania, Taiwan and Argentina have penalised manufacturers for cartelisation. Source: thehindubusinessline




Comments

Post a Comment

Popular posts from this blog

NDPMS Stock Advisory

It is entirely possible that NDPMS could have, from time to time, some trading or investment positions in the stocks being discussed on the blog. This blog is not intended for distribution to, or use by, any person or entity, any jurisdiction or country, where such distribution or use would be contrary to local law or regulation. Reproduction in whole or in part without written permission is prohibited.
Post a Comment
Read more

12.1% Equity Return in 10 days !! Review it to believe it !!

This is a pseudo folio. The base folio amount was kept at Rs 1 lakh and was created on September 26, 2015. Most of the positions are still open hence please consider this post as an update on the folio.The folio heat was kept at 10% which in simpler words mean that of all position gets their stop losses hit, the folio will drop maximum by 10%. Risk reward ratio is kept at 3:1 which implies that target points are set at 3 times the risks per position taken. This post is subjected to promotion of NDPMS Stock Markets Training Program. Please read the disclaimer before forming any opinions about the post, stock markets or NDPMS Wealth Management. Disclaimer: The intention of this post is not at all to entice the blog viewers to take up NDPMS Advisory Service. The post is solely used to promote NDPMS Training Program. It is entirely possible that NDPMS could have, from time to time, some trading or investment positions in the stocks being discussed on the blog. This blog is not int...
1 comment
Read more

Professional Trading - Business like no other !!

My primary love is professional trading. That's what I do, that's what I breathe. Trading gives me passive income, my money is busy making money for me. It is my passion, however that is not my occupation. My job is somewhat of a missionary set out to educate people about the art of investing and trading. My job as a coach is to find talented people and make sure they learn and follow the fundamentals of the art. This is the goal I have set for myself. This is why I wake up every morning. This is why I sleep every night. However on this journey I encounter many people who come into trading having accumulated either a lot of money or a lot of dreams. I have seen a lot of doctors, lawyers, engineers, techies, accountants, architects and the like. All those professions require a lot of training to master the skills involved. You simply cannot go to a realtor without any proper training or qualification and say "I'd like to design this structure for you today." ...
Post a Comment
Read more