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Saturday, December 10th, 2016 11:55 PM
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FPIs Welcome RBI Move to Hold Rates

Neal Bhai Reports — FPIs Welcome RBI Move to Hold Rates — There is one bunch of investors who may be happy that the Reserve Bank of India (RBI) did not reduce interest rates: the foreign portfolio investors (FPIs) in fixed income securities.

Overseas investors look at the RBI’s policy decision positively as they continue to earn a good mark-up over returns in their home markets for funds.

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Mid & Small-cap Tech Stocks Jump in a Dull Market

Neal Bhai Reports — Mid & Small-cap Tech Stocks Jump in a Dull Market — Mid and small-cap technology stocks rose up to 20% in an otherwise dull trading session on Friday with higher-thanaverage volumes as traders lapped them up on judgement that their recent fall was excessive.

Telecom product and solutions firm Tanla Solutions was locked in the 20% upper circuit at `. 59.90, and was the top gainer on the S&P BSE Information Technology Index which gained 0.5% to 9814.48.Intellect Design Arena, Smartlink Network Systems, Aurionpro Solutions, D-Link India, Trigyn Technologies, Polaris Consulting, Mastek and Take Solutions surged 6-19%.

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Blackstone Exits MCX, Sells 4.8% to Swiss Fin Corp for Rs 300 crore

Neal Bhai Reports — Blackstone Exits MCX, Sells 4.8% to Swiss Fin Corp for Rs 300 crore — PE major Blackstone on Friday exited its investment in MCX by selling nearly 4.8% stake to Swiss Finance Corporation for . 300 crore. Blackstone, through ` its Mauritius subsidiary, Blackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.

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Mallya Email, Twitter Acs Hacked

Neal Bhai Reports — Mallya Email, Twitter Acs Hacked — Vijay Mallya has transferred the entire $40 million received from Diageo Plc to trusts whose beneficiaries are his three children, Edmond de Rothschild, bankers to the liquor baron, told the Supreme Court in November.

Siddharth Mallya, Tanya Mallya and Leana Mallya received just over $13 million each on February 24 this year, Rothschild told the court in a confidential letter dated November 18.

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Life in a Cashless World

Life in a Cashless WorldNeal Bhai Reports — Life in a Cashless World — Govt told to reply by Wednesday; A-G says notes worth Rs 13 L cr to return to system More than a month after demonetisation, many people across the country are still coping with a shortage of new currency notes. Here’s a look at how tea and paan shop owners, key makers, newspaper vendors, masseuses, autorickshaw drivers, florists and even temples are going digital.

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Guar Demand Up, But Farmers Can’t Make Most of Uptick

Gold Silver Reports — Guar Demand Up, But Farmers Can’t Make Most of Uptick — Guar farmers from Rajasthan and Haryana are not being able to take advantage of a 15% rise in demand for guar gum in the second half of FY17 compared with the first half as cash-starved mandis are not being able to buy guar from them.

Just after demonetisation was announced on November 8, traders had suddenly started buying guar and farmers got a premium of up to 20% on their harvest, but in old currency. However, those sales took place through mandis, and via auctions. But off-mandi sales have now slowed down significantly as old no w slowed down significantly as old notes have been deposited with banks.Farmers now have to depend largely on mandi offtake.

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Crude Oil has a Credible Floor Now

Gold Silver Reports — Crude Oil has a Credible Floor Now — The Opec deal to cut production has been the first co-ordinated cut by the bloc to curtail production since the financial crisis of 2008. While 2008 was a demand shock, the decision to cut output in 2016 is driven by Opec’s failure to put shale producers out of business. The Opec had, in 2014, decided to adopt an aggressive market share strategy by pumping more oil and driving down prices to make it unviable for high cost producers to survive. The strategy was partially successful as it managed to bring down investment in global oil industry and reduced US oil output by 1 million bpd from its peak in 2015. Opec’s decision reflects desperation as the slowdown in Non-Opec output took longer than what Opec anticipated.More than two years of lower prices has hit Opec nations hard.

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Why Bharat Forge can be Good Contrarian Bet

Gold Silver Reports — Why Bharat Forge can be Good Contrarian Bet — The stock of Bharat Forge may appeal to investors as a contrarian bet considering the possibility of a revival in the company’s revenue following improving demand in the overseas market.

In November, orders of Class 8 trucks -a benchmark of truck orders in North America -grew by 19% to 19,500 units, the first increase since May 2015. Typically, a downturn in class 8 truck orders in the US lasts for two years on an average based, data collated since 1987 show. This reflects the probability of an upturn in demand in the next calendar year. Analysts have predicted a 45% drop in revenue for the company from North America for FY17 and a modest increase of 5% for FY18.The region accounts for nearly 20% of the total revenue of the company .The forecasts show the current stock price reflects the adverse scenario of the past. It means improving demand in the US is yet to be factored in by investors.

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Deutsche Bank Records Said to Show Silver Rigging at Other Banks

Deutsche Bank Records Said to Show Silver Rigging at Other BanksGold Silver Reports — Deutsche Bank Records Said to Show Silver Rigging at Other Banks — Eight months after Deutsche Bank AG settled a lawsuit claiming it manipulated gold and silver prices, documents it disclosed as part of the accord provide “smoking gun” proof that UBS Group AG, HSBC Holdings Plc, Bank of Nova Scotia and other firms rigged the silver market, plaintiffs claim.

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