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SEBI gives clean chit to Bears....
Posted by :
sambalaPrice when posted : BSE: Rs 335.55 ( 4.74 % ), NSE: Rs. 334.05 ( 4.55 % )
Tracked by: 0 Boarder
Buddha raps UPA for faith in capitalism
Kolkata, Nov 22 (IANS) Slamming the Congress-led United Progressive Alliance (UPA) government for its `faith` in capitalism, West Bengal Chief Minister Buddhadeb Bhattacharjee Saturday said the central government should learn from the ongoing economic turmoil in the US.
Bhattacharjee, a senior leader of the Communist Party of India-Marxist (CPI-M), stressed his party`s firm opposition to capitalism and said it was because of the Left that the UPA government at the centre could not invest pension funds of employees in the share market.
`Can you imagine what would have happened had the government invested the money in share funds? People would have never got their pension, given what is happening in the US now,` he said, addressing a rally at Baruipur in the South 24 Parganas district.
`We are against America and capitalist policies. The central government should learn lessons from the present economic recession,` Bhattacharjee said.
Citing the example of China, he said: `China has made itself self-sufficient. That`s why it is competing neck-and-neck with the US. We also have to make ourselves self-sufficient.`
He said peoples` money in the state-run banks and insurance companies in India was safe because the Left did not allow US companies to do business with public sector banks and insurance companies.
Bhattacharjee was also critical of the UPA`s efforts to forge strategic partnership with the US in the economic, political and defence spheres.
`The country is in a difficult position. The Congress is also in a bad position at present,` he said.
...
In reply to:
SEBI gives clean chit to Bears....
Posted by : marketman
SEBI report on icic bank stock moment....
In the backdrop of a global crisis in the financial sector and amidst liquidity fears, the share prices of several leading financial services companies across markets suffered a sharp decline. Rumours of financial trouble have caused a run on the banks in some overseas jurisdictions. The main spillovers have occurred in financial markets, reflecting the relative integration of such markets in the global financial system. In India, since January 2008 there has been decline in shares prices across sectors.
ICICI Bank had vide letter dated September 17, 2008 made a complaint to SEBI alleging that “a malicious rumour is being spread to the effect that some of the top management have been selling ICICI Bank shares for the last few days”. The price of the shares of ICICI witnessed a fall of 12.5% from Rs. 640 on 15/09/08 to Rs. 560.30 on 17/09/08.
ICICI Bank, on September 16, 2008 disclosed to the public through a press release about ICICI Bank UK PLC exposure to Lehman Brothers i.e. “ICICI Bank UK PLC is holding investment of Euro 57 million ($80 million) in senior bonds of Lehman Brothers Inc. ICICI Bank UK PLC already holds a provision of about US$ 12 million against investment in these bonds. Considering a 50% recovery estimate, the additional provision required would be about US$ 28 million”. On September 17, 2008, ICICI Bank Ltd informed the exchanges that "A malicious rumor is being spread to the effect that some of the top management has been selling ICICI Bank shares for the last few days. These rumors are baseless and irresponsible, and no shares have been sold by members of the top management of the Bank during the current year. ICICI Bank is taking up this matter with regulatory authorities for necessary action against those responsible for the rumors".
The shareholding pattern of ICICI Bank for the quarter ended on June 30, 2008, shows that around 68% of the shares were held by FIIs/Foreign entities (ADR). Similarly figures for the next quarter that ended on September 30, 2008, show that around 65% of the shares of ICICI Bank were held by FIIs/ Foreign entities (ADR) Rest of the shares by Indian Public including institutions. FIIs have reduced their holding in ICICI Bank between the quarter that ended on June 30 and Sep 30, 2008 by around 3%. The underlying shares against ADR held by Global Custodian also show a fall of around 20.5 million shares during the period representing Jan 1, 2008 to Sep 30, 2008 indicating an increase in the shares available in the Indian Market.
It is seen that the prices of ICICI Bank fell by 49.52% from Rs.720.45 on September 8, 2008 to Rs. 363.65 on October 10, 2008. During the same period, prices of ADRs of ICICI Bank saw a fall of 53.25% from Rs.717.77 on September 8, 2008 to Rs.335.55 on October 10, 2008. The prices of ADR has fallen more than the shares of ICICI Bank in Indian market. During this period NIFTY and SENSEX witnessed a fall of 26.82% and 27.3% respectively.
Trading pattern of the shares of ICICI bank was analyzed for the period September 8, 2008 to October 10, 2008:
The client category-wise breakup of turnover in the shares of ICICI Bank in the cash market shows that FIIs accounted for 23.57% and 18.61% of the value of shares sold and bought respectively whereas rest of the investors accounted for 76.5% and 81.4% of the value of shares sold and bought respectively.
Top 20 investors in ICICI Bank both on net buy and sell basis in the cash market shows that majority of them were FIIs (Net Buy: FIIs-14, MF-4, DII-1, Others-1) (Net Sell – FIIs -17, MF – 2, Others-1)
There was no pattern observed regarding placement of successive orders at lower price by sellers to hammer down the price.
There was no pattern observed of booking intraday profits by major clients or brokers during this period.
By and large, the trading patterns are consistent with the shareholding pattern of ICICI with predominant holdings by FIIs, the general buying and selling behaviour by FIIs and the broad movements of the market during this period. While SEBI continues its surveillance of the stock exchange trading in various securities, SEBI did not find evidence of manipulative trading in the ICICI Bank shares during the period referred to above.
Jet may land in to double digit mark....
Posted by : sambalaPrice when posted : BSE: Rs 149.55 ( -1.03 % ), NSE: Rs. 149.85 ( -0.96 % )
Tracked by: 3 Boarders
Jet chief likely to meet pilots on salary cuts
With recession eating into its bottom line, private air-carrier Jet Airways is likely to announce a 20 per cent cut in the salaries of its pilots, engineers and some other staff.
"Chairman Naresh Goyal has convened a meeting of airline officials, pilots and engineers, to discuss the issue of salary cuts. An announcement to this effect is also likely," a source close to the development told PTI today.
The meeting is to be held at a five-star hotel in the metropolis, the source added.
Pilots and engineers to be affected by this move are understood to have expressed their opposition to it and are considering their response, the source said.
The airline employs around 13,200 personnel with around 2,000 of them drawing a salary of more than Rs 1 lakh a month. These officials comprise mainly pilots and maintenance engineers.
Despite repeated attempts, Jet Airways officials were not available for comment on the likely meeting tomorrow.
The air-carrier`s move comes in the wake of steep losses and rising operation costs coupled with falling passenger demand.
According to aviation analysts, Jet Airways, which posted losses to the tune of Rs 384 crore in Q2 of the current financial year, is likely to post a net loss of Rs 1,890 crore in 2008-09.
In October, the airline had announced a lay-off of 1,900 employees as part of its drive to prune costs but had to retract, following political pressure
...
In reply to:
Jet may land in to double digit mark....
Posted by : sambala
Domestic fares likely to drop in New Year: Praful
Aviation fuel may become ‘declared goods’ by year-end
New Delhi, Nov. 22 The Government hopes to be able to accord ‘declared goods’ status to aviation turbine fuel (ATF) being supplied to large commercial aircraft operated by domestic airlines by the end of the year.
Speaking to newspersons on the sidelines of the Hindustan Times Leadership Summit, the Minister for Civil Aviation, Mr Praful Patel, said that his Ministry was constantly in touch with the Finance Ministry and the Empowered Committee of the State Finance Ministers on the matter.
“Before the end of the year we should have declared goods status for ATF. Domestic airfares should come down in the New Year.” The domestic airline industry has to pay sales tax varying from 4 per cent to more than 30 per cent on ATF that it uplifts in different parts of the country. The high level of taxation is often cited as one of the primary reasons for the losses which the domestic airline industry is reporting.
According ‘declared goods’ status to aircraft of more than 40,000 tonnes, like the Airbus and Boeing operated by all domestic airlines, will ensure that the industry pays a standard 4 per cent sales tax on ATF through out the country.
The Minister also asked the industry to look at the possibility of reducing domestic airfares as the global price of fuel was decreasing. “The Government is not immune to what the public feels. Perceptionally, the Government is trying to help the airline industry. Now with fuel prices coming down, you must match perception and that fares are coming down.” The Chairman of Jet Airways, Mr Naresh Goyal, said that the airline will do whatever the Ministry and Minister want as “long as we remain profitable. I will certainly not like the company to close down.”
The Minister hinted that the state-owned Air India may look at reducing fares.
“Air India need not think like other carriers. It knows its responsibility towards the public.” He also said that the Government planned to infuse Rs 1,200 crore as equity into Air India. The proposal will have to be cleared by several Government Ministries including the Finance Ministry and the Cabinet Committee of Economic Affairs before the funds can be provided.
Jet may land in to double digit mark....
Posted by : sambalaPrice when posted : BSE: Rs 149.55 ( -1.03 % ), NSE: Rs. 149.85 ( -0.96 % )
Tracked by: 3 Boarders
Domestic fares likely to drop in New Year: Praful
Aviation fuel may become ‘declared goods’ by year-end
New Delhi, Nov. 22 The Government hopes to be able to accord ‘declared goods’ status to aviation turbine fuel (ATF) being supplied to large commercial aircraft operated by domestic airlines by the end of the year.
Speaking to newspersons on the sidelines of the Hindustan Times Leadership Summit, the Minister for Civil Aviation, Mr Praful Patel, said that his Ministry was constantly in touch with the Finance Ministry and the Empowered Committee of the State Finance Ministers on the matter.
“Before the end of the year we should have declared goods status for ATF. Domestic airfares should come down in the New Year.” The domestic airline industry has to pay sales tax varying from 4 per cent to more than 30 per cent on ATF that it uplifts in different parts of the country. The high level of taxation is often cited as one of the primary reasons for the losses which the domestic airline industry is reporting.
According ‘declared goods’ status to aircraft of more than 40,000 tonnes, like the Airbus and Boeing operated by all domestic airlines, will ensure that the industry pays a standard 4 per cent sales tax on ATF through out the country.
The Minister also asked the industry to look at the possibility of reducing domestic airfares as the global price of fuel was decreasing. “The Government is not immune to what the public feels. Perceptionally, the Government is trying to help the airline industry. Now with fuel prices coming down, you must match perception and that fares are coming down.” The Chairman of Jet Airways, Mr Naresh Goyal, said that the airline will do whatever the Ministry and Minister want as “long as we remain profitable. I will certainly not like the company to close down.”
The Minister hinted that the state-owned Air India may look at reducing fares.
“Air India need not think like other carriers. It knows its responsibility towards the public.” He also said that the Government planned to infuse Rs 1,200 crore as equity into Air India. The proposal will have to be cleared by several Government Ministries including the Finance Ministry and the Cabinet Committee of Economic Affairs before the funds can be provided.
...
In reply to:
Jet may land in to double digit mark....
Posted by : vkk43
If not in near term, they have to reduce their fares after sometime.
SUPPORT AT 36
Posted by :
drjagbPrice when posted : BSE: Rs 38.15 ( 2.55 % ), NSE: Rs. 38.30 ( 2.68 % )
Tracked by: 0 Boarder
This scrip appears to have find new support level at Rs 36. It may go around 51 by end of next week that means it may see a 40% rise from this support level. Pl comment....
SEBI gives clean chit to Bears....
Posted by : sambalaPrice when posted : BSE: Rs 335.55 ( 4.74 % ), NSE: Rs. 334.05 ( 4.55 % )
Tracked by: 0 Boarder
SEBI chief rules out scam behind market meltdown
Ruling out market manipulation or a scam behind the recent market meltdown, regulator SEBI said only those FIIs who have borrowed huge amounts are leaving the markets, while long-term investors like pension funds and retail investors are picking up stocks.
"We have not found anything in the market that would give us suspicion that something had seriously gone wrong with the market itself," SEBI Chairman C B Bhave said.
When observed by the discussion moderator that the regulator is giving assurance that scams, which took place in bull runs in the past, are non-existent or negligible this time, Bhave said, "So far we have not seen anything."
Only leveraged FIIs like hedge funds are going out of the market, he said, adding that long-term investors like pension funds and university funds are buying stocks.
"Equity is going into the hands of people who have patience," he said, pointing out that many people who stayed away from the market last year have now started buying stocks.
Bhave said if four FIIs sold stocks, three others bought them during the period from September 1 to November 14, 2008.
He said FIIs net sold stocks worth Rs 22,000 crore, while brokers sold stocks worth Rs 700 crore on proprietary accounts in this period.
On the other hand, the net buying of stocks by mutual funds was worth Rs 1,000 crore, domestic institutional investors Rs 16,000 crore, and other investors including retail Rs 5,600 crore.
The market watchdog`s analysis shows that there was minimal net-selling from September 1 to November 14.
...
In reply to:
SEBI gives clean chit to Bears....
Posted by : marketman
SEBI report on icic bank stock moment....
In the backdrop of a global crisis in the financial sector and amidst liquidity fears, the share prices of several leading financial services companies across markets suffered a sharp decline. Rumours of financial trouble have caused a run on the banks in some overseas jurisdictions. The main spillovers have occurred in financial markets, reflecting the relative integration of such markets in the global financial system. In India, since January 2008 there has been decline in shares prices across sectors.
ICICI Bank had vide letter dated September 17, 2008 made a complaint to SEBI alleging that “a malicious rumour is being spread to the effect that some of the top management have been selling ICICI Bank shares for the last few days”. The price of the shares of ICICI witnessed a fall of 12.5% from Rs. 640 on 15/09/08 to Rs. 560.30 on 17/09/08.
ICICI Bank, on September 16, 2008 disclosed to the public through a press release about ICICI Bank UK PLC exposure to Lehman Brothers i.e. “ICICI Bank UK PLC is holding investment of Euro 57 million ($80 million) in senior bonds of Lehman Brothers Inc. ICICI Bank UK PLC already holds a provision of about US$ 12 million against investment in these bonds. Considering a 50% recovery estimate, the additional provision required would be about US$ 28 million”. On September 17, 2008, ICICI Bank Ltd informed the exchanges that "A malicious rumor is being spread to the effect that some of the top management has been selling ICICI Bank shares for the last few days. These rumors are baseless and irresponsible, and no shares have been sold by members of the top management of the Bank during the current year. ICICI Bank is taking up this matter with regulatory authorities for necessary action against those responsible for the rumors".
The shareholding pattern of ICICI Bank for the quarter ended on June 30, 2008, shows that around 68% of the shares were held by FIIs/Foreign entities (ADR). Similarly figures for the next quarter that ended on September 30, 2008, show that around 65% of the shares of ICICI Bank were held by FIIs/ Foreign entities (ADR) Rest of the shares by Indian Public including institutions. FIIs have reduced their holding in ICICI Bank between the quarter that ended on June 30 and Sep 30, 2008 by around 3%. The underlying shares against ADR held by Global Custodian also show a fall of around 20.5 million shares during the period representing Jan 1, 2008 to Sep 30, 2008 indicating an increase in the shares available in the Indian Market.
It is seen that the prices of ICICI Bank fell by 49.52% from Rs.720.45 on September 8, 2008 to Rs. 363.65 on October 10, 2008. During the same period, prices of ADRs of ICICI Bank saw a fall of 53.25% from Rs.717.77 on September 8, 2008 to Rs.335.55 on October 10, 2008. The prices of ADR has fallen more than the shares of ICICI Bank in Indian market. During this period NIFTY and SENSEX witnessed a fall of 26.82% and 27.3% respectively.
Trading pattern of the shares of ICICI bank was analyzed for the period September 8, 2008 to October 10, 2008:
The client category-wise breakup of turnover in the shares of ICICI Bank in the cash market shows that FIIs accounted for 23.57% and 18.61% of the value of shares sold and bought respectively whereas rest of the investors accounted for 76.5% and 81.4% of the value of shares sold and bought respectively.
Top 20 investors in ICICI Bank both on net buy and sell basis in the cash market shows that majority of them were FIIs (Net Buy: FIIs-14, MF-4, DII-1, Others-1) (Net Sell – FIIs -17, MF – 2, Others-1)
There was no pattern observed regarding placement of successive orders at lower price by sellers to hammer down the price.
There was no pattern observed of booking intraday profits by major clients or brokers during this period.
By and large, the trading patterns are consistent with the shareholding pattern of ICICI with predominant holdings by FIIs, the general buying and selling behaviour by FIIs and the broad movements of the market during this period. While SEBI continues its surveillance of the stock exchange trading in various securities, SEBI did not find evidence of manipulative trading in the ICICI Bank shares during the period referred to above.
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
Vision of Indira, Manmohan helped withstand meltdown: Cong
NEW DELHI: A day after Prime Minister Manmohan Singh and Congress President Sonia Gandhi dwelled on the strong fundamentals of the Indian economy, Congress hailed the vision of both the leaders and former Prime Minister Indira Gandhi for the country withstanding the current global meltdown.
"He (Singh) is one of the best economists of the world. The party President has already spoken on the economic issue and the agenda ahead at the Leadership Summit," Congress media department chief M Veerappa Moily told reporters here.
Moily followed Sonia Gandhi in recalling the contribution of former PM Indira Gandhi in nationalising the banks.
"But for the decision taken by Indiraji then, we would have been in a mess," said Moily, adding, that since both the banks and the insurance sector are under government regulation, no one can doubt their credibility.
Moily also attacked the statements of Leader of the Opposition L K Advani at the Summit yesterday in which he criticised the economic policies of the government and accused it of ill-preparedness and knee jerk reaction to inflation.
"He (Advani) was launching the campaign for the Lok Sabha elections. A leader who wants to become the Prime Minister of the country should have a larger interest of the country in mind," Moily said.
The Congress leader described Advani`s statement as unfortunate at a time when the entire system should come together to fight the financial crisis.
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : Kalidas
It is well known that India’s best breed of industrialists Tata (of TISCO and Tata Motors) and Birla (Hindalco) for over 5 decades are in serious trouble while taking up expansion overseas. Yes, they made serious errors and in normal course, they may not have deserved the help for their follies.
Charity begins at home. India as nation must help these two outstanding businessmen. They may not long for Bharat Ratna, Padma Vibhushan, Padma Bhushan or similar khitabs. They need material help at the time of their acute distress.
If Indian Forex Reserve does not come to the help of India’s best industrialists, what is the use? Should we allow our Forex reserve for the use of Americans who have been simply wasting all resources and using them to create toxic waste.
Indian FOREX Reserve belongs to the Indians and must be used for Indians first and others later.
And I do not suggest that you give them free money. Give them the amount required as under after due scrutiny.
1. Assess their requirements and be wetted by top financial institution.
2. Work out how much amount they need
3. Give them @ 5% in foreign currency non subordinated Convertible Bonds secured by the floating pari pasu charge on their respective enterprise.
3.a Such bonds may carry conversion rights at last 6 months average prices of their respective shares, exercisable only after 5 years.
3,b It may have buy back clause at 8% premium per year for the life of 15 years. This will help these guys to buy back the bonds when they are comfortable without diluting their equity stakes when the things improve.
3.c If the Government wishes, it may sell these bonds in the market with huge profit (because current stock prices are very low), after giving respective companies to buy back the bonds.
4. When the things improve, they can raise the capital from the market to buy back these bonds.
5. Give them loans repayable in 15 years due to depression prevailing all over the world.
6. Ask them to pay special tax @ 3% after initial 5 years so as to relieve the interest burden during early phase of management. National exchequer may also be benefited for help rendered.
7. Ask them to give India at least 5 hospitals and 5 Technical Institutes with full management rights vested with the respective group companies on purely voluntary basis. (we can trust them)
8. Ask them to adopt at least 5 villages to make them into model town in next 15 years on voluntary basis. (again, we can trust them)
9. Indian tax payers are not affected with this help. Their advance is fully secured and given to the industrialists they trust most.
for more details, see my blog http: // anilselarka.wordpress. com/
Kalidas, Hong Kong
18-Nov-2008
Q2 Results from NSE
Posted by : vkk43Price when posted : BSE: Rs 21.50 ( -4.87 % ), NSE: Rs. 21.30 ( -4.91 % )
Tracked by: 0 Boarder
Dear sbalu,
But we all will forget these in next boom when the market goes to 25000 sensex. Will we be able to remember them at that time and act??
Thanks....
In reply to:
Q2 Results from NSE
Posted by : sbalu
Dear googol saar,
Agreed in toto..!
With thanks,
-sbalu
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
History will decide if I am weak: Manmohan
New Delhi, August 17: : It was the same Prime Minister but a different Manmohan Singh on Thursday in Rajya Sabha when the premier of the country was addressing the Upper House on the nuke deal.
The man who was always considered to be a novice in the political affairs started his speech with the very acceptance that he has been a late entrant to the political field.
Having said that, the PM then took a different course, something which was apparently aimed at, not only pacifying the complaining Left but also to spring a surprise on the Opposition benches. His strong conviction coming straight from the heart belied his novelty in the business of politics.
The vigour with which he spoke not only encouraged his party members to applaud him continuously by regular patting on the benches but he also made it clear that his words will not only reach the listeners but also pierce through. This he managed by disclosing his humble background and the revolutionary decisions which he took in his earlier stints as the Finance Minister and varied capacities.
Manmohan ensured to provide ample illustrations to support his strong and emotional words and to prove that his expressions are not hollow claims which is why he asserted in a challenging way, let history decide how tough I am as the Prime Minister of the country.
Nonetheless, Manmohan made it clear that his political novelty cannot prevent him form taking decisions which will put the country on the path of development. Citing other reforms which he ushered in the economic field, he said that the only constant is change and one cannot shy away from this eternal truth.
Admitting that there is risk to all kind of reforms he said he was confident of taking this decision to ensure the power security in the country. He elaborated that the sole motivation of nuclear programme is to generate energy as the threat of insecurity is always looming large over the energy supply from the conventional sources.
Allaying fears arising out of the deal on the autonomous nuclear policy Manmohan Singh assured the House in clear terms that the country will not agree to any dilution which will lead to the undermining of the nuclear policy. He said that the nuclear deal is guided by the July 2005 statement.
He asserted that we respect the autonomy of our nuclear scientists and establishments; as such there will be no curbs on India’s nuclear...
Ashok Kumar (Expressindia. com)
Posted: Nov 22, 2008 at 2020 hrs IST
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : Kalidas
It is well known that India’s best breed of industrialists Tata (of TISCO and Tata Motors) and Birla (Hindalco) for over 5 decades are in serious trouble while taking up expansion overseas. Yes, they made serious errors and in normal course, they may not have deserved the help for their follies.
Charity begins at home. India as nation must help these two outstanding businessmen. They may not long for Bharat Ratna, Padma Vibhushan, Padma Bhushan or similar khitabs. They need material help at the time of their acute distress.
If Indian Forex Reserve does not come to the help of India’s best industrialists, what is the use? Should we allow our Forex reserve for the use of Americans who have been simply wasting all resources and using them to create toxic waste.
Indian FOREX Reserve belongs to the Indians and must be used for Indians first and others later.
And I do not suggest that you give them free money. Give them the amount required as under after due scrutiny.
1. Assess their requirements and be wetted by top financial institution.
2. Work out how much amount they need
3. Give them @ 5% in foreign currency non subordinated Convertible Bonds secured by the floating pari pasu charge on their respective enterprise.
3.a Such bonds may carry conversion rights at last 6 months average prices of their respective shares, exercisable only after 5 years.
3,b It may have buy back clause at 8% premium per year for the life of 15 years. This will help these guys to buy back the bonds when they are comfortable without diluting their equity stakes when the things improve.
3.c If the Government wishes, it may sell these bonds in the market with huge profit (because current stock prices are very low), after giving respective companies to buy back the bonds.
4. When the things improve, they can raise the capital from the market to buy back these bonds.
5. Give them loans repayable in 15 years due to depression prevailing all over the world.
6. Ask them to pay special tax @ 3% after initial 5 years so as to relieve the interest burden during early phase of management. National exchequer may also be benefited for help rendered.
7. Ask them to give India at least 5 hospitals and 5 Technical Institutes with full management rights vested with the respective group companies on purely voluntary basis. (we can trust them)
8. Ask them to adopt at least 5 villages to make them into model town in next 15 years on voluntary basis. (again, we can trust them)
9. Indian tax payers are not affected with this help. Their advance is fully secured and given to the industrialists they trust most.
for more details, see my blog http: // anilselarka.wordpress. com/
Kalidas, Hong Kong
18-Nov-2008
Jet may land in to double digit mark....
Posted by : vkk43Price when posted : BSE: Rs 149.55 ( -1.03 % ), NSE: Rs. 149.85 ( -0.96 % )
Tracked by: 3 Boarders
If not in near term, they have to reduce their fares after sometime....
In reply to:
Jet may land in to double digit mark....
Posted by : sambala
Jet, Kingfisher bosses rule out cut in airfares
New Delhi: The Big Three of Indian aviation came together and the Hindustan Times Leadership Summit 2008 and faced an inevitable question.
They were asked when the airfares would be cut even as aviation turbine fuel price has been cut. But private airlines don`t seem to be in a mood to oblige.
The discussion on the state of domestic aviation industry started on a light note.
"We call him Praful bhai (brother)," Jet Airways Chairman Naresh Goyal said about Union Civil Aviation Minister Praful Patel.
"I am not that kind of bhai so please don`t misunderstand," Praful quipped and then added that wanted a cut in airfares.
"Now with fuel prices down and also with the government`s own desire to see that we are giving whatever help we can to you must match it with a perception that fares are coming down," Patel said.
But both Naresh Goyal and Kingfisher Airlines Chairman VIjay Mallya were quick to turn it down.
"I don`t want to close down my company. Vijay thank you very much. You can live on liquor but I have nowhere to go," Goyal said.
Aviation turbine fuel prices have dropped down significantly and combined with the withdrawal of customs duty the decrease has been over 25 per cent.
But Mallya said oil is only one component and that the strengthening dollar is also draining them.
"A huge component of our costs is lease cost for aeroplanes, maintenance coasts are all dollar denominated," revealed Mallya.
So for now expect no fare cuts unless aviation turbine fuel prices tumble further or if the fuel is notified as a declared good that will bring the sales tax down to a uniform four per cent across the country from the present average of 21 per cent.
The only hope therefore is for public carrier Air India to bring down prices which could happen in January
Jet may land in to double digit mark....
Posted by : sambalaPrice when posted : BSE: Rs 149.55 ( -1.03 % ), NSE: Rs. 149.85 ( -0.96 % )
Tracked by: 3 Boarders
Jet, Kingfisher bosses rule out cut in airfares
New Delhi: The Big Three of Indian aviation came together and the Hindustan Times Leadership Summit 2008 and faced an inevitable question.
They were asked when the airfares would be cut even as aviation turbine fuel price has been cut. But private airlines don`t seem to be in a mood to oblige.
The discussion on the state of domestic aviation industry started on a light note.
"We call him Praful bhai (brother)," Jet Airways Chairman Naresh Goyal said about Union Civil Aviation Minister Praful Patel.
"I am not that kind of bhai so please don`t misunderstand," Praful quipped and then added that wanted a cut in airfares.
"Now with fuel prices down and also with the government`s own desire to see that we are giving whatever help we can to you must match it with a perception that fares are coming down," Patel said.
But both Naresh Goyal and Kingfisher Airlines Chairman VIjay Mallya were quick to turn it down.
"I don`t want to close down my company. Vijay thank you very much. You can live on liquor but I have nowhere to go," Goyal said.
Aviation turbine fuel prices have dropped down significantly and combined with the withdrawal of customs duty the decrease has been over 25 per cent.
But Mallya said oil is only one component and that the strengthening dollar is also draining them.
"A huge component of our costs is lease cost for aeroplanes, maintenance coasts are all dollar denominated," revealed Mallya.
So for now expect no fare cuts unless aviation turbine fuel prices tumble further or if the fuel is notified as a declared good that will bring the sales tax down to a uniform four per cent across the country from the present average of 21 per cent.
The only hope therefore is for public carrier Air India to bring down prices which could happen in January
...
In reply to:
Jet may land in to double digit mark....
Posted by : KARUNAS
Even these news cannot stop Jet`s journey to two digit mark.
UNITECH HAS RESISTANCE AT 30
Posted by : vkk43Price when posted : BSE: Rs 31.85 ( -9.39 % ), NSE: Rs. 32.00 ( -8.57 % )
Tracked by: 0 Boarder
It is my pleasure. Thanks....
In reply to:
UNITECH HAS RESISTANCE AT 30
Posted by : drjagb
Dear vkk43,
You are right. I get corrected. Thanks.
UNITECH HAS RESISTANCE AT 30
Posted by : drjagbPrice when posted : BSE: Rs 31.85 ( -9.39 % ), NSE: Rs. 32.00 ( -8.57 % )
Tracked by: 0 Boarder
Dear vkk43,
You are right. I get corrected. Thanks....
In reply to:
UNITECH HAS RESISTANCE AT 30
Posted by : vkk43
Unitech appears to have support at Rs.30/- level and not resistance. Of course you are right, it should hold at this level. However, if it falls from this level, then it could come down sharply by few rupees.
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This share swings both ways sharply and buy low and sell high is a good strategy for this share....
In reply to:
Buy
Posted by : my_money
just technical pull back / short covering. how long will it carry on? it will depend on the buying interest.
Rgds,
Scary Movies of Europe. Read on...
Posted by : vkk43Price when posted : BSE: Rs 1127.35 ( 6.49 % ), NSE: Rs. 1124.35 ( 6.47 % )
Tracked by: 0 Boarder
My son, a senior executive in SIEMENS AG, Germany, is also of the same opinion that more bad news are likely to follow next year from Europe as well....
In reply to:
Scary Movies of Europe. Read on...
Posted by :
pyaretaj
In Germany, Chancellor Angela Merkel said she expected the first few months of next year to bear more bad news for Europe`s largest economy, which is now in recession.
Merkel told Welt am Sonntag newspaper that economic development in Germany, Europe and the rest of the world was hard to predict but
UNITECH HAS RESISTANCE AT 30
Posted by : vkk43Price when posted : BSE: Rs 31.85 ( -9.39 % ), NSE: Rs. 32.00 ( -8.57 % )
Tracked by: 0 Boarder
Unitech appears to have support at Rs.30/- level and not resistance. Of course you are right, it should hold at this level. However, if it falls from this level, then it could come down sharply by few rupees....
In reply to:
UNITECH HAS RESISTANCE AT 30
Posted by : drjagb
Unitech appears to have resistance at Rs 30 level, earlier also it rebounced from this level on 24th October and achieved level of 58 on 11th November which was almost double of its reistance level seen on 21st Nov also. I hope the scrip may see above 51 level by next weekend. Pl comment.
