shareBazar: February 2016

Monday, 29 February 2016

Re: {LONGTERMINVESTORS} News & Misc. items - Thread

Fitch: India budget credit positive but uncertainties remain

Full coverage on #Budget - click here

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Re: {LONGTERMINVESTORS} Penny stocks

can you suggest any textile stock in this category

On Mon, Feb 22, 2016 at 8:00 PM, 'bhavik desai' via LONGTERMINVESTORSRESEARCH <longterminvestorsresearch@googlegroups.com> wrote:

Thanks Swati Mehta.

Noida toll Bridge Ltd. is also a very good company and also promoted by IL & FS group.
Excellent dividend yield too.

Regards,
Bhavik Desai

From: Swati Mehta <swatimehtalongterm@gmail.com>
To: longterminvestorsresearch@googlegroups.com
Sent: Monday, 22 February 2016 3:38 PM
Subject: Re: {LONGTERMINVESTORS} Penny stocks

Il&FS inv is the best

On Sat, Feb 20, 2016 at 3:41 PM, 'bhavik desai' via LONGTERMINVESTORSRESEARCH <longterminvestorsresearch@googlegroups.com> wrote:
Can anyone suggest few good stocks to hold from below list..

1) IL&FS Invest. Mgrs
2) JVL Agro Industries
3) NeoCorp International Ltd.
4) Genus Power Infrastructure
5) Vijay Shanthi Builders
6) Manali Petrochemicals
7) Nitesh Estates
8) Noida Toll Bridge

Regards,
Bhavik Desai

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{LONGTERMINVESTORS} Moody's: India's fiscal 2017 budget is moderately credit positive Budget Full Coverage – Click here

Moody's: India's fiscal 2017 budget is moderately credit positive
Budget Full Coverage – Click here

{LONGTERMINVESTORS} Japan Gets Paid to Borrow for 10 Years as Auction Yield Negative

Japan Gets Paid to Borrow for 10 Years as Auction Yield Negative
2016-03-01 04:08:51.920 GMT

By Kevin Buckland and Shigeki Nozawa
(Bloomberg) -- The Japanese government got paid to borrow money for a decade for the first time, selling 2.2 trillion yen
($20 billion) of the debt at an average yield of minus 0.024 percent on Tuesday.
The sale drew bids for 3.2 times the amount of the securities offered, according to the Finance Ministry. Japanese government bonds of as long as five years in maturity sold at a negative average yield for the first time last month, after the Bank of Japan pushed yields lower across the curve with the announcement of negative interest ratesJan. 29.
Demand at 10-year note auctions had been declining this year as yields continued their slide, even with the central bank having the scope to buy every new bond issued as part of its stimulus program. The previous benchmark note was yielding minus
0.07 percent. An auction of 0.3 percent 10-year paper on Feb. 2 had a then record-low average yield of 0.078 percent.
"There are concerns about who would actually buy 10-year bonds with negative yields," Shuichi Ohsaki, the chief Japan rates strategist at Bank of America Merrill Lynch, said before the auction. "Even if you wanted to participate in the BOJ trade, you would have to hold onto the bond until it becomes eligible for the BOJ operation. And with the increase in volatility, it's a tough one to trade."
Volatility in the world's second-biggest sovereign bond market spiked to the highest since June 2013 in February, according to the S&P/JPX JGB VIX.
"In our view, 10-year yields have overheated," Barclays strategists Akito Fukunaga and Naoya Oshikubo wrote in a report Monday. The "auction does not look particularly attractive" in terms of relative-value trades, they wrote.
The JGB yield curve was the flattest on record at the end of last week, under pressure from the BOJ's bond purchases, with the premium offered by 10-year securities over two-year notes narrowing to just 11.5 basis points.
The central bank buys as much as 12 trillion yen of the nation's government debt a month.
"There aren't that many bonds available in the market, and the feeling of a lack of supply has strengthened," said Souichi Takeyama, a rates strategist in Tokyo at SMBC Nikko Securities Inc., who said the average yield may well be below zero. "If investors sell bonds now after having bought them when yields were positive, there's the risk they won't be able to reinvest with positive yields later, so they're reluctant to let them go."

--With assistance from Saburo Funabiki and Naoto Hosoda.

{LONGTERMINVESTORS} Budget 2016: Budgeting for growth, Innovative way of exploring options, It is a Budget for Employment all dated 01.03.2016

{LONGTERMINVESTORS} Morgan Stanley Lowers Flipkart Stake Valuation from $80m to $58m

Morgan Stanley's Institutional Fund Trust (MPEGX) has been an investor in Flipkart since 4 October 2013. Every six months, they reveal their holding with the current valuation of Flipkart as they see it. To the deepest consternation of the Indian twitterati, and to the schadenfreude of some (look ma,long words!), Flipkart has seen its valuation chopped down by 27% in the December 2015 quarter.

The 566,827 shares of Flipkart, bought by MPEGX at about $22.95 per share, have been revalued all the way up to $142 a share in June 2015, valuing the MPEGX stake at $80 million. But in December 2015, MPEGX has revealed it only values them now at $104 per share, dropping the value to $58 million.

The lower valuation is probably a combination of internal assessment of market valuations by the MS team, which has also similarly dropped valuations of Palantir and Dropbox, other "unicorn" startups, and of recent other transactions that might have occurred.

Closer home in India, Info Edge took a big cut in the valuation of Canvera last quarter, where it owns 49%. It also has, in the past, brought more clarity to its holdings of Zomato. In the Sep quarter, when asked about when they could monetize their stake, they said:

Look, I think Zomato has now sort of shifted gear and has moved into focusing more on revenue growth and possible breakeven sometime in the foreseeable future and it would probably be expensive for us to hang on in there, it is not as if we are getting offers in any case, so therefore we do not expect much movement on that space for a while.

In the age of lowering stock market expectations, and lowered economic growth worldwide, it would be a little strange if unicorn startup valuations only went one way: up. But in this age where startup valuations were figments of someone's imagination, it's apparently distasteful that someone's imagination isn't even fertile enough to keep staying positive.

The fear, of course, is that these startup valuations could go to zero. It's unlikely, but not unprecedented. And we should expect at least one of the big startups, even in India, to shut down. Flipkart, however, might not be going down that route just yet. Even at the 27% lower figure, it's valued at $11 billion more than zero. All is not well, but the fat lady hasn't sung either. (Sorry. I promise to not become the Sidhu of startups)

Startup investors have always been illiquid, so they can always mark their investment to what they like. Startups are likely to see down rounds, and rough markdowns; if they were listed, they would have been destroyed by the market anyhow. It's just another bear market – and it only scares someone who's never seen one before.

Re: {LONGTERMINVESTORS} News & Misc. items - Thread

Ashok Leyland says February total sales of 13,403 vehicles vs 10,762 vehicles last year

Re: {LONGTERMINVESTORS} News & Misc. items - Thread

Asian factories hit hard in February – readhere

*China suffering a seventh straight month of decline
*Japan's factories saw their weakest growth in eight months
*India perhaps the only standout, and for merely maintaining modest growth

Re: {LONGTERMINVESTORS} Research Reports extracts & summaries - Thread

BofA Merrill cuts price target of Oil India to 396 rupees from 402 rupees

{LONGTERMINVESTORS} S&P: India's Recapitalization Plan May Not Be Enough To Meet Public Sector Banks' Capital Shortfall

Standard and Poor's Ratings Services McGraw Hill Financial

India's Recapitalization Plan May Not Be Enough To Meet Public Sector Banks' Capital Shortfall

SINGAPORE (Standard & Poor's) Feb. 29, 2016--The Indian government's proposed   recapitalization for public sector banks is unlikely to be enough to meet the   capital shortfall of these banks, Standard & Poor's Ratings Services said   today.    In the budget for the fiscal year ending March 2017 (fiscal 2017), the Indian   government has allocated Indian rupee (INR) 250 billion to recapitalize public   sector banks. This amount is unchanged from Project Indradhanush, under which   the government had announced that it will infuse INR250 billion into public   sector banks in each of fiscals 2016 and 2017, and INR100 billion each in   fiscals 2018 and 2019.    "We believe Indian public sector banks will find it difficult to meet the   7.625% target Tier 1 equity ratio (including capital conservation buffer) by   March 2016. We believe the capital requirement for banks is likely to be much   higher than the amount allocated," said Standard & Poor's credit analyst Geeta   Chugh. "We estimate that Indian public sector banks need around INR2.3   trillion capital by 2019, and the Reserve Bank of India's recent directive to   banks to clean up their balance sheets has preponed that requirement."    Of the government's allocated INR250 billion in fiscal 2016, only INR50   billion remains to be infused.    "While the quantum of recapitalization announced by the government for fiscal   2017 seems insufficient, the government's reiteration of its commitment of   support to public sector banks, including providing more capital, supports   their credit profiles," said Ms. Chugh.    In the budget statement, the finance minister announced that the government   will find the resources if public sector banks require additional capital. He   strongly articulated that the government will stand solidly behind these   banks.    In our view, Indian public sector banks have to rely more on government   support for capital infusions because they may find it difficult to raise   capital from the equity capital markets, given their currently weak operating   performance. In our base case, we expect these banks to raise capital from the   government or from government-related entities to meet the minimum capital   requirement.    We believe many Indian public sector banks are on a weak footing on the   capitalization front. On Feb. 16, 2015, we placed our ratings on Indian   Overseas Bank, a public sector bank, on CreditWatch with negative   implications. We believe the bank's continued losses and lower capital put it   at a risk of failing to meet the regulatory minimum capital requirement. On   Feb. 16, 2015, we also revised the rating outlook on Bank of India to negative   from stable because of a potential deterioration in the bank's asset quality   and capitalization. The rating outlook on Syndicate Bank is negative for   similar reasons.    We could downgrade these banks (or lower their stand-alone credit profiles) if   they are unable to raise capital to meet the regulatory minimum requirement,   their risk-adjusted capital ratio falls below 5%, or their asset quality   deteriorates more than we currently expect. Banks could face multiple-notch   downgrades if their capital breaches the minimum regulatory requirement.   Standard & Poor's caps the stand-alone credit profile of a bank that breaches   the regulatory capital requirement (and is still allowed to continue to   operate) at 'ccc+'.

We have determined, based solely on the developments described herein, that no   rating actions are currently warranted. Only a rating committee may determine   a rating action and, as these developments were not viewed as material to the   ratings, neither they nor this report were reviewed by a rating committee.

Standard & Poor's Ratings Services, part of McGraw Hill Financial (NYSE:   MHFI), is the world's leading provider of independent credit risk research and   benchmarks. We publish more than a million credit ratings on debt issued by   sovereign, municipal, corporate and financial sector entities. With over 1,400   credit analysts in 26 countries, and more than 150 years' experience of   assessing credit risk, we offer a unique combination of global coverage and   local insight. Our research and opinions about relative credit risk provide   market participants with information and independent benchmarks that help to   support the growth of transparent, liquid debt markets worldwide.

Media Contacts:
Tanuja Abhinandan, Mumbai 91 22 3342 1818
tanuja.abhinandan@crisil.com

Jyoti Parmar, Mumbai 91 22 3342 1835
jyoti.parmar@crisil.com

Emi Nakata, Singapore (65) 6216-1193
Emi.nakata@standardandpoors.com

Analyst Contacts:
Geeta Chugh, Mumbai; geeta.chugh@standardandpoors.com
Deepali V Seth Chhabria, Mumbai; deepali.seth@standardandpoors.com
Amit Pandey, Singapore; amit.pandey@standardandpoors.com

Standard & Poor's Ratings Services, a part of McGraw Hill Financial (NYSE: MHFI), is the world's leading provider of independent credit risk research and benchmarks. We have approximately 1.2 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. With nearly 1,400 credit analysts in 26 countries, and more than 150 years' experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information and independent benchmarks that help to support the growth of transparent, liquid debt markets worldwide.

{LONGTERMINVESTORS} Parliament’s session

let us find out what do these sessions of parliament actually mean for the country. To start with the obvious, around 790 members of the supreme legislative body in India meet thrice a year. The period during which the parliamentarians convene and conduct the business of each House is referred to as session. Every year, the Parliament of India conducts three sessions – Budget, Monsoon and Winter.

Budget Session

Budget session, which is conducted from February to May, is considered highly crucial for the matters it deals with. Much importance is attached to this session of the Parliament as government tries to pass as many bills as possible to take forward its reform agenda. The budget session opens with the presentation of the Railway Budget. While the rail budget is presented sometime in the third week of February, the General Budget is presented on the last working day of February. The MPs get an opportunity to discuss budgetary provisions and proposals pertaining to taxation.

It is often seen that the budget session is split into two periods with a gap of one month in between. The standing committees related to various ministries utilise the intervening period to discuss and consider the Demands for Grants made by the ministries. The timeframe between the prorogation of the Parliament and its reassembly is known as recess.

Monsoon Session

After a brief hiatus of around two months, both the Houses of the Parliament resume business in July and continue till September. Unlike the preceding session, the monsoon session is dedicated largely to discussions on matters of public interest. It is during the monsoon session that the members of the Parliament, including the ministers, can bring forward the legislative proposals in the form of a Bill.

The government can move a resolution or a motion to get approval or opinion of the House on policy-related issues and matters of grave concern. Similarly, the MPs can also move a resolution in order to draw the attention of the House on specific problems and initiate discussions on matters of urgent public importance.

Winter Session

It is the shortest session that spans over a period of one month generally between mid-November and mid-December. It takes up the issues that could not be deliberated upon and makes up for the lack of legislative business during the second session of the Parliament. The MPs not only debate on administrative policies on the floors of the Parliament, but also make sure that the government gets the drift and becomes aware of its lapses.

All the three sessions of the Parliament are uniform in their purpose and the functions they are expected to perform. For example, the proposal for amending a certain Act within the Constitution of India can be initiated in any of the three sessions and either House of the Parliament.

The sessions of Parliament are convened at the discretion of the President. However, there should not be a gap of more than six months between two sessions. The President has the power to summon or prorogue either or both Houses of Parliament. The power of adjournment belongs to the respective presiding officers. Adjournment of a house does not terminate the session of the house. It merely postpones the proceedings of the house to a future date. But prorogation brings an end to a session of the house. The parliament ordinarily meets in three sessions in a year. These are the Budget Session (Febuary-May) , Monsoon session (July-August) and Winter session(Nov-December).

Functions and Powers of the Parliament

(1) Providing the cabinet
(2) Control of the cabinet
(3) Criticism of the cabinet and of the individual ministers
(4) An organ of information
(5) Legislation
(6) Financial control
(7) According to Art368 Parliament can amend the Constitution of India.
(8) Electoral-Parliament participates in the election of the President and Vice President of India
(9) Power of removing functionaries like the President and Vice- President and judges of the Supreme Court and High Courts.

Joint sessions of Parliament

The President can call joint sessions of the two Houses if a bill passed by one House is rejected by the other House or if the amendments proposed to a bill by one House are not acceptable to the other House, does not take any action on a bill remitted to it for six months. Decision is taken by a majority of the total members present. The deadlock over a bill in a joint sitting is resolved by present and voting. Since the Lok Sabha has a larger membership in a joint sitting generally the will of the Lok Sabha prevails. After the passage of the bill in a joint sitting it is presented to the President for his assent. But no joint sitting can be summoned to resolve a deadlock in case of a Money bill or a Constitutional Amendment bill.

Legislative procedure- The primary function of Parliament is law making. Art 107 to 122 of the Constitution deal with the legislative procedure with reference to the passing of the bills in the Parliament. A Bills may be classified under four heads viz., Ordinary, Money, Financial and Constitutional Amendment bills. Money and financial bills cannot be introduced in the Rajya Sabha. The other bills can be introduced in either house of the Parliament. Bills are of two types viz., Government and private members' bills. Money, financial and an ordinary bill under Article 3 can be introduced only on the recommendation of the President. It means they cannot be introduced as Private Members bills. The legislative procedure adopted for passing Government and Private members' bills is the same.

The different stages in the legislative procedure in the Parliament-

(a) Introduction of the Bill. The first stage of legislation is the introduction of a Bill. After the Bill has been introduced in the house it is published in the Gazette of India. The introduction of the bill and its publication in the Gazette constitutes the First reading of the Bill.
(b) Second reading of the Bill- At this stage the bill is discussed in thoroughness. There are different courses of action open at the second stage; (1) the bill may be taken into consideration at once; (2) the Bill may be referred to a Select committee or a Joint committee of the House (3) the bill may be circulated for the purpose of eliciting public opinion on it.
(c) Third reading of the Bill. This is the final reading which is more or less a formal affair.

After the bill has been accepted by the House it is deemed to have been passed by the House. It is then transmitted to the other House where it has to pass through the same process. The other House has four alternatives before it. These are:

(1) It may pass the bill with no amendment . In that case the bill will be deemed to have been passed by both houses.
(2) It may pass the bill with amendments. In this case, the bill will be returned to the originating House. If the House which originated the bill accepts the bill as amended by the other House, it will be deemed to have been passed by both Houses. However if the originating house does not agree to the amendments made by the other House and if there is final disagreement as to the amendments between the two Houses the President may summon a joint sitting of the two Houses to resolve the deadlock
(3) It may reject the bill altogether. Then the President may under Art 108 summon a joint sitting to resolve the deadlock;
(4) It may take no action on the Bill by keeping it lying on its table. In such a case if more than six months elapse from the date of reception of the bill, then it is deemed that there this a deadlock between the two Houses and the President may summon a joint sitting of the Parliament.

President's Assent.- After the bill has passed through both the Houses or through a joint sitting of the Parliament or it is ratified by not less than half of the state legislatures as the case may be, it is presented to the President for his assent. If it is a Money Bill or a Constitutional Amendment bill , he has to give his assent to the bill. But in case of a bill other than these two, the President may return the bill for the reconsideration of the Parliament with his recommendation. If the Bill is passed by both the Houses again, with or without amendment as recommended by the President , it is sent to the President for the second time. At this stage the President cannot withhold his assent . The bill after receiving the assent of the President becomes an Act.

Special procedure with respect to Money Bill

If any question arises whether a bill is a money bill or not, the decision of the Speaker of the Lok Sabha is final. His decision in this respect cannot be questioned in a court of law. A money bill cannot be introduced in the Rajya Sabha. It cannot be introduced without the recommendation of the President. After it is passed by the Lok Sabha it is transmitted to the Rajya Sabha. The Rajya Sabha cannot reject or amend a money bill by virtue of its powers. It has only a recommendatory role to play in the passing of a Money bill. After receiving a money bill from the Lok Sabha, the Rajya Sabha within a period of 14 days must return the bill to the Lok Sabha with or without the recommendations. After the Money Bill is passed by the Parliament it is presented to the President for his assent . The President cannot send back a money bill to the reconsideration of the Parliament; he shall give his assent.

Special procedure with respect to Financial bill

A financial bill can be introduced only in the Lok Sabha, that too on the recommendations of the President. However the Rajya Sabha has equal powers to reject or amend it. The President may also send a financial bill for the reconsideration of the Parliament once.

Parliament' s control over the financial system

The financial system consists of two branches, viz., revenue and expenditure. Article 265 states that no tax can be levied or collected without the sanction of the Parliament . All the revenue and loans raised by the authority of law are paid into the Consolidated Fund of India. Under Article 266 no money can be withdrawn or spent or appropriated from the Consolidated Fund of India without the sanction of the Parliament. The Parliament thus controls the revenue expenditure and appropriation of government funds.

The Budget

The budget is the annual financial statement of the government . It is a government bill and is classified as a Money Bill. It is presented to the Lok Sabha upon the recommendation of the President The budget is a statement of the estimated receipts and expenditures of the government of India for the following financial year. All the expenditures approved through various demands for grants and expenses charged on the Consolidated Fund of India, are then presented in the form of a single bill called the Appropriation Bill. The proposals for taxation to raise revenue are presented in the form of 'Financial Bill'

Consolidated Fund of India- It is a fund to which all the revenue, loans raised and income of the Government of India are deposited.

Charged expenditures are expenditures that do not require the approval of the Parliament to be spent out of the Consolidated Fund of India.

Contingency Fund of India- This fund was created in 1950 by an act of Parliament on the basis of powers provided under Art 267. It has a limit of 50 cores. It is placed at the disposal of the President to meet unforeseen expenditures where the Parliament's approval cannot be obtained owing to time factor.

Question hour. Normally the first hour of the business of a house every day is devoted to questions and is called question hour.

Adjournment Motions An adjournment motion is an extra- ordinary procedure which if admitted leads to setting aside the normal business of the house for discussing a definite matter of urgent public importance.

Call- attention motion- A member of Parliament may with prior permission of the Speaker, call the attention of a minister to any matter of urgent public importance and the minister may make a brief statement or ask for time to make a statement at a later hour or date.

No - confidence motion- A motion moved by a member to express lack of confidence in the Government for any reason. The motion, if allowed is debated upon. At the conclusion of such a debate, a vote of confidence is sought by the government and it fails to get the required majority of votes, it has to resign.

SEVENTH SESSION - SIXTEENTH LOK SABHA

(February - May, 2016)

Re: {LONGTERMINVESTORS} News & Misc. items - Thread

It's a good budget, notwithstanding knee-jerk reaction of market: Prashant Jain,HDFC AMC

Economic Times

In a chat with ET Now, Prashant Jain, ED & CIO, HDFC AMC, says the fiscal deficit target is very good, fiscal prudence has been maintained, it should ...

{LONGTERMINVESTORS} Market Mantra: The Money Daily – March 1, 2016

Adjusting to neutral Budget! Indices may chart own course at start

The big event is now behind us and what lies ahead is hope that GST will sooner than later get passed and that the RBI may get into action and lower rates. With none of the feared negatives making it into the Union Budget (no increase in time frame for long term capital gains or super-rich tax or hike in basic excise), it remained more of a neutral event. The silver lining was that the fiscal deficit target of 3.9% was met and target of 3.5% has been maintained for FY17. This raises expectations of a rate cut from the RBI. The two other big positives are the Rs2 lac crore capital expenditure on roads and railways and continued flow of funds and autonomy from Centre to State.

The outlook is a flat to positive start as indices look to chart their own course in the morning. Auto numbers and PMI manufacturing data will be eyed besides continued dissecting of the budget. Global cues are not helping really as Asian indices are mixed with Nikkei lower and Shanghai higher.

Trading ideas (Time period: 1-3 days)

ICICI Bank (BUY above Rs190, Target 205, SL Rs181): ICICI Bank is showing some signs of the strong bounce, on analyzing the hourly charts, the stock is on the verge of a declining trend breakout. On the daily charts, RSI is also showing positive crossover which indicates that the upswing is here to stay for a while. In addition, volumes have also picked up surpassing previous weeks volumes. We advise trades to BUY ICICI Bank above Rs190 with stop loss placed at 181 for Target of 205. (Duration 2-3 days).

Derivative strategies (Time period: Till expiry)

² Buy FUT Kotak Bank March Above Rs630 with SL of Rs604 for target of Rs682

Lot size: 700 Remarks: Net maximum profit of Rs36,400 and net maximum loss of Rs18,200

Corporate Snippets

² Budget airline IndiGo said it would receive its first A320neo jet in March, three months later than originally planned after manufacturer Airbus said it could not deliver the aircraft on time. (BS)

² Tata Group's Tata Communications Payment Solutions (TCPSL), which operates white and brown-label ATMs under the Indicash brand, is in talks with payments and small banks for use of its physical infrastructure in towns and villages as micro bank branches.

² Zee Entertainment group has acquired the exclusive telecast rights for the Times of India Film Awards (TOIFA) 2016 across the world excluding India. (ET)

² Maruti Suzuki India (MSI) has started shipping its premium hatchback Baleno to Europe, ahead of the formal launch of the model by its Japanese parent Suzuki Motor Corp. (ET)

² Indian Oil Corp has bought 1 million barrels of March-loading Urals crude via a tender, the country's first purchase of the Russian grade in a year, two sources close to the matter said. (ET)

² Drug major Lupin said its wholly-owned Japanese subsidiary, Kyowa, plans to set up a manufacturing plant at Tottori, Japan as part of expansion plans in the country. "In order to meet the rapidly growing demand of generics, the Kyowa board has proposed the setting-up of a two billion tablets capacity plant at Tottori, Japan which would be designed to efficiently handle mass volume products and provide flexibility in allowing easy future expansion," Lupin Ltd said in a regulatory filing. (ET)

² Thailand based Indorama Ventures (IVL), one of the world's leading petrochemicals producers and Dhunseri Petrochem have agreed to enter into a 50:50 joint venture to manufacture polyethylene terephthalate (PET) resins for domestic as well as international markets. (ET)

² "The doubling of the clean energy cess on coal announced in the budget is disappointing as the hike would amount to about 6% additional burden on fuel cost", M S Unnikrishnan, Managing Director, Thermax Ltd said. "The gencos will pass it on to already stressed discoms that will not be able to share it with consumers as power prices are regulated by the Government. This proposal could adversely affect the balance sheets of discoms". (BL)

² Jaiprakash Power Ventures has commenced commercial operations at the 660 MW unit-1 of the Bara Super Critical Thermal Power Project, the company said in a notification to the stock exchanges. (BL)

Economy snippets

² India's infrastructure output grew 2.9% in January 2016 compared with 2.3% a year ago. (BS)

² In a significant development, the Delhi High Court upheld telecom regulator's Trai decision asking operators to mandatory compensate mobile users with rupee one for every call drop, maximum to three calls per day. (BS)

² Oil Marketing Companies (OMCs) slashed prices of petrol by Rs3.02 per liter and raised diesel rates by Rs1.47 per liter in order to align the domestic rates of the automobile fuels with global benchmarks. (BS)

² In a bid to curb cigarette smoking in the country, the government has increased excise duty on tobacco products other than Bidi by 10-15%. The hike for FY17 however is lower than the rate of excise duty increase in the previous year. (BS)

² The government proposed to give income tax exemption to foreign companies for storing and selling oil to local refiners, a move that could spur interest from global oil producers in leasing the country's strategic petroleum reserve (SPR) facilities. (ET)

² Providing clarity on spectrum trading deals, Finance Minister Arun Jaitley said right to use spectrum and its subsequent transfer is a service which will attract service tax. (ET)

Warm Regards,

Amar Ambani

Head of Research ,

IIFL

{LONGTERMINVESTORS} Forex Mantra

{LONGTERMINVESTORS} Commodity Mantra: Pre-Market

{LONGTERMINVESTORS} Fwd: Morning Market Starter- March 01, 2016

---------- Forwarded message ----------
From: <research@icicibank.com>
Date: Tue, Mar 1, 2016 at 11:54 AM
Subject: Morning Market Starter- March 01, 2016
To: stockdesai@gmail.com

Central Bank watch:

The Reserve Bank of Australia (RBA) maintained status quo in its policy meeting today and kept the cash rate unchanged at 2%.

Bank of Japan (BoJ) Governor Haruhiko Kuroda stated that the Central Bank's quantitative and qualitative easing (QQE) and policy of negative interest rates have yielded expected results in financial markets.

People's Bank of China (PBOC) cut the reserve requirement ratio by 50 bps yesterday.

Chart: Eurozone's CPI inflation slipped into the negative territory at (-) 0.2% YoY in February

Global market developments:

Macroeconomic Data:

o EZ: Headline CPI (advance estimate) in February was downbeat, with the reading at (-) 0.2% YoY, vs. prior print of 0.3% YoY. Core CPI for February also came in below expectations, at 0.7% YoY (previous print: 1.0% YoY).

o US: Chicago manufacturing PMI slipped into contractionary territory (below 50 levels) at 47.6 in February (prior levels: 55.6). Dallas Fed Manufacturing activity for February came in at (-) 31.8 vs. prior print of (-) 34.6.

US equities ended in the red yesterday. Downbeat US data showing softened manufacturing activity in February curbed investor confidence. Declines were led by specialty pharma companies. Dow Jones and S&P lost 0.7% and 0.8% respectively.

Asian equities are trading in the green this morning. Announcement of a cut in the reserve ratio requirement by the PBoC provided some buoyancy to risk sentiment. However, gains have been capped on account of a slew of downbeat manufacturing PMI prints from Japan and China. Nikkei (0.4%), Hang Seng (0.4%), Shanghai Composite (0.2%) and Australia's ASX (0.5%) are all posting gains. Markets in South Korea are closed on account of a holiday.

US Treasuries are trading higher today. The 10Y benchmark yield is at 1.71% vs. yesterday's close of 1.74%.

Global market snapshot

Domestic market developments:

April-January FY2016 fiscal deficit currently stands at 95.8% of the FY2016 budgeted aim vs. 107.0% in the corresponding period last year.

Union Budget for FY2017 was tabled in the Parliament yesterday.

Indian Oil Corporation lowered petrol prices by INR 3.02/litre with effect from yesterday midnight. However, Diesel prices were raised by INR 1.47/litre.

Rupee is trading stronger vis-à-vis the US Dollar, at 68.27 levels vs. yesterday's close of 68.43.

Indian equities are trading in the green this morning. Nifty and Sensex are trading higher 2.2% each.

Regards,
ICICI Bank

Contact:

Sagrika Gogia
(+91-22) 2653-1414 (extn: 2180)
sagrika.gogia@icicibank.com

Sonal Surana
(+91-22) 2653-1414 (extn: 2087)
sonal.surana@icicibank.com

Radhika Wadhwa
(+91-22) 2653-1414 (extn: 2085)
radhika.wadhwa@icicibank.com

CA. Rajesh Desai

{LONGTERMINVESTORS} Fixed Income Mantra

Re: {LONGTERMINVESTORS} Rocket Launched on 1st Mar.BOOM !BOOM Call. !! 1st Mar,2016 Sensex ,Nifty , Bank Nifty. BOOM !BOOM Call. !!

excellent sir

hats off to u raviji

On Tue, Mar 1, 2016 at 12:12 PM, Boomboom Trade_NSE_BSE <boomboomtradensebse@gmail.com> wrote:

Rocket Launched on 1st Mar.

NF Gain= 160++ pts
BNF Gain- 300++ pts
Sensex Gain- 530++ pts

FREE! FREE!! JOIN FACEBOOK NOW FOR BOOM BOOM CALLS.

https://www.facebook.com/groups/225750574440057/

GOD Bless!!
with warm regards
Boom Boom Trade
boomboomtradensebse@gmail.com
Mumbai, Maharashtra

==============================
From: Boom Boom Trade <boomboomtradensebse@gmail.com>
Date: Sun, Feb 28, 2016 at 4:45 PM

BOOM !BOOM Call. !! 1stMar,2016  Sensex ,Nifty , Bank Nifty. BOOM !BOOM Call. !!
The "WAATCH "analysis suggest:
1stMar,2016 Sensex ,Nifty , Bank Nifty. BOOM !BOOM Call. !!
Mega Move expected,valid for ± 1 Day only.
Note- If the BOOM BOOM DAY-Mega mover day falls on a holiday then take ± 1 pre or post trading day of Holiday.
Click on the link below:
BOOM! BOOM!! CALL. -
PS: While due care has been taken in preparing the Analysis, no responsibility can be or is assumed for any consequences resulting out of acting on it.
    This call is only for traders following TA. Gamblers, Punters, Tipsters, godmen, godwomen, dabba trader,novices etc... pls excuse.
===========================

Atom Bomb blast on 23rdFeb.

NF Gain= 84++ pts
BNF Gain- 280++ pt
Sensex Gain- 250++ pts

Thankyou.
===============================
BOOM !BOOM Call. !! 22nd Feb,2016  Sensex ,Nifty , Bank Nifty. BOOM !BOOM Call. !!
The "WAATCH "analysis suggest:
22nd Feb,2016 Sensex ,Nifty , Bank Nifty. BOOM !BOOM Call. !!
Mega Move expected,valid for ± 1 Day only.
Note- If the BOOM BOOM DAY-Mega mover day falls on a holiday then take ± 1 pre or post trading day of Holiday.
Click on the link below:
BOOM! BOOM!! CALL. -
PS: While due care has been taken in preparing the Analysis, no responsibility can be or is assumed for any consequences resulting out of acting on it.
    This call is only for traders following TA. Gamblers, Punters, Tipsters, godmen, godwomen, dabba trader,novices etc... pls excuse.

Your feed back is welcome.
GOD Bless!!

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