Insider Trades - Sep 21 2012
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Showing posts with label Insider Trades. Show all posts
Showing posts with label Insider Trades. Show all posts
Sunday, September 23, 2012
Sunday, September 09, 2012
Tuesday, January 17, 2012
Monday, January 02, 2012
Sunday, December 18, 2011
Wednesday, November 30, 2011
Thursday, October 13, 2011
Wednesday, October 12, 2011
Sunday, September 25, 2011
Monday, July 11, 2011
Saturday, July 02, 2011
Friday, February 11, 2011
Tuesday, August 31, 2010
Saturday, February 20, 2010
Tuesday, January 06, 2009
Tuesday, January 01, 2008
Insider Trading - SEBI proposes consultative paper
In order to curtail incidents of insider trading, capital market regulator SEBI on Tuesday floated a consultative paper, whereby insiders would not be able to buy and sell the company's securities within a period of six months. Insiders would have to surrender any profit made by buying and selling company securities in six months, according to SEBI's proposed regulations on Short Swing Profit.
The proposed regulation is based on a similar rule in the US, which requires 10% owners, directors and officers of a company to give up any profit realised from any purchase and sale, or any sale and purchase, of any equity security of the company within a six-month period.
According to SEBI, the regulation would help prevent company insiders, who have greater access to price sensitive company information, from taking advantage of information for the purpose of making short-term profits, called as short swing profit. Additionally, it would align the long term objectives of company insiders with the company shareholders.
SEBI has proposed the “Last In First Out” (LIFO) method for determining the six month period between buy and sell trades by company insiders.
The short swing rule would automatically get invoked once two things are established. First is the fact of being an insider or a designated insider. And second, the fact that the same securities were bought and sold within six months of each other.
The intent of the person would be immaterial. Merely the fact of the trade will be sufficient to take action. Where there is a delay, interest may be payable by such insider to the company.
SEBI has proposed certain exemptions, such as transactions approved by a regulatory authority, employee benefit plans, bona fide gifts and inheritances, mergers and acquisitions etc. Certain securities may also be considered as exempt altogether.
The regulator invited comments from the public on the consultative paper particularly with regard to coverage of persons in the definition of designated insider, method of calculating the dates of purchase and sale and classes of exemptions.
Saturday, December 22, 2007
Wednesday, April 18, 2007
STRATEGY INPUTS FOR THE DAY
Encouragement for bulls, but bear in mind profit booking
There are high spots in all of our lives and most of them have come about through encouragement from someone else.
Things are looking encouraging for the bulls as the results so far have been fairly good though the IT companies' earnings have lacked the usual spark. That may well have something to do with the rupee's remarkable appreciation against the dollar. Still, the numbers from software firms are not bad by any means. The outlook also appears to be strong despite currency fluctuations and the US slowdown. Talking about IT results, HCL Tech has surprised the market with much improved show in the third quarter. The stock may see some action on the up side.
Meanwhile, the rupee closed at 41.97 to the dollar yesterday after touching an intra-day high of 41.62. It may gain some more ground before the central bank steps in to check the rally. Some experts feel the Indian currency will eventually slide to 43 in the medium term. Right now though, exporters are feeling the heat while importers are rejoicing.
On to the markets now. We expect a higher opening, buoyed by the gains in the US blue chips overnight and firm trend in the Asian markets. But, as the bulls found out to their dismay, there could be selling pressure at higher levels. Apart from the barrage of corporate results, the market is awaiting the outcome of the RBI's policy meeting on April 24 as well as the weekly inflation data.
The IPO of Bhagwati Banquets & Hotels Ltd. opens today. Hilton Metal Forgings is entering capital market with an IPO of 54.5 lakh equity shares of Rs 10 each at a price Rs 70 per equity share. The IPO of Fortis Healthcare has been subscribed by just 0.7 times. The issue closed on April 20.
Shares of Dish TV, the DTH arm of Zee Entertainment will get listed on the bourses today. Watch out for TV Today as well as Reliance Capital has made an open offer for an additional 20% in the company at Rs30 per share. TV Today closed at Rs140 yesterday. Pritish Nandy too may attract some attention amid reports that it is looking to offload a part of its stake to PE funds.
There is a buzz in the market that Idea Cellular may be targeting BPL Mobile, which operates in the lucrative Mumbai circle. Pioneer Embroideries may get a large order from retail giant Wal-Mart, according to market grapevine. Tata Steel will also be in focus after announcing the funding mix for the acquisition of Corus. CESC is another stock to keep an eye on as it has declared a share swap ratio for the merger with Spencer's Retail parent.
Alfa Laval is expected to be in the limelight amid news that its Swedish parent could hike the open offer price, though Alfa Laval AB has denied such a move. Praj Industries will announce a bonus issue and results today.
FIIs were net buyers of Rs3.05bn (provisional) in the cash segment yesterday while the domestic institutional investors (including Mutual Funds) offloaded stocks worth Rs3.1bn, according to the NSE. The data is provisional in nature and is subject to changes. In the F&O space, FIIs pumped in Rs6.56bn yesterday. As per SEBI data, FIIs were net buyers of Rs7.88bn on Monday. Mutual Funds poured in Rs2.05bn on the same day.
US stocks closed mixed on Tuesday. The Dow Jones Industrial Average almost made a new record, spurred by better-than-expected economic and earnings reports. The Standard & Poor's 500 Index closed at the highest level since September 2000.
The Dow gained 52.58, or 0.4%, to 12,773.04. The blue chip benchmark rose as high as 12,790.02, above its all- time closing high of 12,786.64 on Feb. 20. Yesterday, the Dow erased losses spurred by the Feb. 27 sell-off in global equities, one day after the S&P 500 did the same.
The S&P 500 climbed 3.01, or 0.2%, to 1471.48, bringing its advance this month to 3.6%. The Nasdaq Composite Index fell 1.38, or 0.1%, to 2516.95.
Treasury prices rose, lowering the corresponding yields. The dollar fell versus the euro, yen and sterling - which hit a 15-year record versus the greenback. Oil prices slipped.
European shares held steady. The pan-European Dow Jones Stoxx 600 index finished a fraction of a percentage point higher at 387.86.
The UK's FTSE 100 was down 0.3% at 6,497.80 as the pound rose by over $2 for the first time in 15 years against the greenback after stronger-than-expected inflation data, potentially forcing the Bank of England's hand on interest rates.
The German DAX Xetra 30 rose 0.2% to 7,348.83, while the French CAC-40 lost 0.1% to 5,858.14.
Mexican and Brazilian stocks closed lower. Mexico's IPC index fell 120 points, or 0.4%, to 29,598.99. In Sao Paulo, the Bovespa, which also climbed earlier in the session, fell 166 points, or 0.3%, to end at 48,755.73.
Asian markets are mixed. The Nikkei in Tokyo was up 79 points at 17,606 while the Hang Seng in Hong Kong declined by 27 points to 20,761. The Kospi in Seoul rose 6 points to 1535 and the Straits Times in Singapore shed 3 points to 3411.
HOW MARKET FARED
Bulls take a pause
Bulls took a breather after rallying in previous couple of trading sessions. After opening in green markets immediately pared its gains as profit booking was witnessed all over the bourses; except for Banking and Oil & Gas index all the key sectoral indices lost ground. The Technology index was the major loser other like Metal and FMCG index followed suit. Even Mid-Cap and the small cap index fell over 0.5% each dragging the NSE Nifty below the 4000mark.
Satyam Computer, SAIL and Tata Motors were the major losers, however HPCL, BPCL and ACC were the major gainers among the 50-scrip’s of NSE Nifty. Finally, the 30-share benchmark Sensex fell 88 points to close at 13607. NSE Nifty was down 28 points to close at 3984.
UTI Bank edged lower by 0.9% to Rs465. The Company announced its Q4 result with net profit at Rs2.12bn (up 39%) and revenue at Rs16.68bn (up 57%) and would pay Rs4.5 per share as dividend. The scrip touched an intra-day high of Rs475 and a low of Rs463 and recorded volumes of over 16,00,000 shares on NSE.
Petronet LNG fell 1.2% to Rs45. The company announced yearly result with net income at Rs3.13bn (up 60%) and Sales at RsRs55.45bn (up 44%). The scrip touched an intra-day high of Rs49 and a low of Rs45 and recorded volumes of over 51,00,000 shares on NSE.
JSW Steel slipped by 3.3% to Rs559. The company announced that they have restarted Furnace on April 12, it had shutdown Furnace after fire for almost 2 months. The scrip touched an intra-day high of Rs584 and a low of Rs555 and recorded volumes of over 7,00,000 shares on NSE.
Newly listed scrip ICRA was the show stopper the scrip witnessed huge intra-day gyrations. The scrip dropped by to a low of Rs880 after rallying over 17% hitting an intra-day high of Rs1135 and recorded volumes of over 1,00,00,000 shares on NSE.
Sunil Hitech gained 1.6% to Rs98 after the company secured orders worth Rs8.2bn. The scrip touched an intra-day high of Rs102 and a low of Rs92 and recorded volumes of over 2,00,000 shares on NSE.
Technology stocks were the worst hit sector as rupee strengthened against the dollar. Satyam Computer declined by over 5% to Rs455, Wipro was down by over 2% to Rs573 and Infosys dropped 2.4% to Rs2082. Polaris, Moser Baer and NIIT Ltd were the major losers among the Midp-Cap stocks.
Metal stocks lost their shine on back of profit booking. SAIL slipped by 3.2% to Rs123, Sterlite Industries dropped by 3.5% to Rs507, Tata Steel fell 1.2% to Rs527 and Hindustan Zinc was down 3.2% to Rs639.
Pharma stocks also ended on the receiving end. Cipla slipped 2.5% to Rs229, Cadila down 1.3% to Rs336, Lupin lost 1.5% to Rs657 and Wockhardt dropped 2% to Rs415.
Cement stocks continued its upward trend. ACC advanced by 2.8% to Rs807, Gujarat Ambuja gained by 1.4% to Rs113 and Mangalam Cement added 0.4% to Rs148.
Insider Trades:
XL Telecom Limited: Mr. Dinesh Kumar, Managing Director has purchased from open market 29610 equity shares of XL Telecom Limited on 5th April, 2007.
Titan Industries Ltd: Mr. Rakesh Jhunjhunwala and persons acting in concert with him has purchased from open market 50000 equity shares of Titan Industries Ltd on 12th April, 2007.
Market Volumes:
The turnover on NSE was up by 7.3% to Rs96.11bn. BSE Technology index was the major loser and lost 1.88%. BSE Metal index (down 1.29%), BSE Consumer Durable index (down 1.15%), BSE FMCG index (down 1.10%) and BSE Capital Good index (down 0.58%) were among the other major losers.
Volume Toppers:
SAIL, Satyam Computer, Dabur Pharma, Idea, Petronet LNG, RNRL, Bank of India, IDFC, India Cement, Orbit Corp, R Com, Reliance Industries, Essar Oil, PFC, Ashok Leyland and Ashok Leyland.
Lower Circuit:
Dhanlakshmi Bank, KEW Industries, Mefcom Agro, Godrej Industries and BF Utilities.
Results Today:
Praj Industries, Plethico Pharma, Genus Overseas, Greaves Cotton, Infotech Enterprises, Prithvi Information Solutions, Sujana Metal and South East Asia Marine.
Delivery Delight:
Alfa-Laval, ACC, Bharat Forge, Bharati Shipyard, Bombay Dyeing, Dabur India, Glenmark Pharmaceuticals, Gujarat Ambuja Cements, HDFC Bank, HCC, ICICI Bank, Punj Lloyd and Reliance Industries.
Abnormal Delivery:
Colgate, Steel Authority of India Ltd, Dr Reddys Laboratories Ltd, Indian Petrochemicals Corporation Ltd, Andhra Bank and Thermax Ltd.
Stock Futures with Largest Increases in OI:
UTI Bank, Bank of India, Satyam Comp, Cummins, Bombay Dyeing, Bajaj Hind, Ultra Tech Cement, GE Ship, PFC and Chennai Petroleum.
Stock Futures with Largest Decreases in OI:
IFCI, Sun TV, Divis Labs, Syndicate Bank, Guj Ambuja Cement, GMR Infra, IOB, Punj Lloyd and Bajaj Auto.
Brokers Recommendation:
TCS – Overweight from JP Morgan with target of Rs1650.
Long Term investment:
Patel Engineering
Results Corner:
BEL full year Profit at Rs7.1bn (up 22%) and sales at Rs39.6bn (up 12%)
HCL Tech Q4 profit at Rs2.39bn (up 77%), net sales at Rs9.59bn (up 35%)
UTI Bank Q4 profit at Rs2.12bn (up 39%), total income at Rs16.68bn (up 57%) and to pay Rs4.5 per share as dividend
Major News Headlines:
Tata Steel make a rights offer at Rs300 each; to sell 1 share for every 5 shares held to fund Corus acquisition
CESC to merge with holding company of Spencer’s retail; to give 1 share for every 1.98 shares of Spencer’s Retail
JSW Steel restarts furnace on April 12; it had shutdown the furnace after fire for almost 2 months
Sunil Hitech gets orders worth Rs8.2bn
Gemini Communication bags order worth Rs576mn
Alfa-Laval won't increase Offer Price for Indian unit's shares, buyback offer opens on April 19 and ends on May 8.
Wednesday, April 04, 2007
Market Watch & Insider Trades
Insider Trades:
Cinemax India Limited: ICICI Prudential Life Insurance Company has purchased from open market 194984 equity shares of Cinemax India Limited on 28th March, 2007.
The Great Eastern Shipping Co. Limited: Mrs.Asha V Sheth, Director has purchased 10000 equity shares of The Great Eastern Shipping Co. Limited on 29th March, 2007.
Prime Securities Limited: Mr. N Jayakumar, President has purchased from open markets 15000 equity shares of Prime Securities Limited on 30th March, 2007
Market Volumes:
The turnover on NSE was down by 1.7% to Rs67.45bn. BSE PSU index was the major gainer and gained 2.16%. BSE Oil & Gas index (up 1.86%), BSE Technology index (up 1.57%), BSE FMCG index (up 1.33%) and BSE Capital Good index (up 1.12%) were among the other major gainers.
Volume Toppers:
IFCI, SAIL, Sakhti Sugar, IVRCL Infrastructure, Balrampur Chini, Rana Sugar, NTPC, Bajaj Hindusthan, R Com, Renuka Sugar, Indiabulls, Satyam Computer, HLL, ITC, Bank of India, Gujrata Ambuja, Idea Cellular, Reliance industries, Sterlite industries and Infosys.
Lower Circuit:
Ansal Infrastructure, Unitech, Simplex Infrastructure, Atlanta, Dawn mills, Mefcom Agro, Shree Precoated and DS Kulkarni.
Delivery Delight:
Aptech, Bajaj Hindustan, Bank of India, BHEL, Gammon India, Glenmark, Hero Honda, HLL, Infosys, IVRCL Infrastructures, Jet Airways, NTPC, Praj Industries and SAIL.
Brokers Recommendation:
Patni Computers - Buy from Citigroup with target price of Rs463
BHEL – Buy from Prabhudas Liladhar with target price of Rs2633.
Long Term investment:
Colgate.
Major News Headlines:
Govt scraps CVD and SAD on cement to curb prices
BHEL FY07 provisional profit at Rs23.85n and provisional revenues at Rs187bn
BHEL plans to make new oil rigs for ONGC
Orchid Chemical to enter Canadian generic formulations market
Renault to sell Logan in JV with M&M
Hershey to buy 51% stake in Godrej Beverages
Indian Hotels unit to acquire Hotel Campton Place
Petron Engineering wins Rs190mn order from Reliance Petroleum
Monday, April 02, 2007
Market Watch & Insider Trades
Insider Trades:
Gujarat Ambuja Cement Ltd: Shri A L Kapur, Director has sold in open market 90000 equity shares of Gujarat Ambuja Cement Ltd on 26th March, 2007.
Bilpower Limited: Rajendra Kumar Choudhary, Director has purchased from open market 91000 equity shares of Bilpower Limited on 29th Mach, 2007.
Deepak Fertilizers And Petrochemicals Corporation Limited: Shri Chimanlal K Mehta, Chairman has sold in open market 1000000 equity shares of Deepak Fertilizers And Petrochemicals Corporation Limited on 22nd, 23rd and 26th March, 2007
Market Volumes:
The turnover on NSE was down by 33% to Rs75.17bn. BSE Pharma index was the major gainer and gained 1.89%. BSE Metal index (up 1.71%), BSE FMCG index (up 1.57%), BSE Auto index (up 1.36%) and BSE Consumer Durable index (up 0.98%) were among the other major gainers.
Volume Toppers:
IFCI, Sakthi Sugar, ITC, SAIL, Ashok Leyland, Balrampur Chini, Bajaj hindusthan, Gujarat NRE, Gujarat Ambuja, Renuka Sugar, NTPC, Tata Steel, R Com, hindalco, IDFC, Satyam Computer and Rana Sugar.
Upper Circuit:
Amara Raja, Flex Industries, Shah Alloys, Alps Industries, McLeod Russel, Nirlon, Swan Mills, DS Kulkarni, Ganesh Housing, Goldiam International, Taneja Aerospace, Tanla and Vakran Software.
Delivery Delight:
Aptech, Bajaj Auto, Bajaj Hindustan, Eveready Industries, HLL, Indiabulls Financial Services, Indian Hotels, Indian Hotels, L&T, Maharashtra Seamless, NTPC, NDTV, Patel Engineering, Ranbaxy Laboratories, Reliance Capital and Sun Pharmaceuticals.
Brokers Recommendation:
Aurobindo Pharma – Buy from Edelweiss
Long Term investment:
Dr Reddy’s Laboratories
Major News Headlines
Inflation unchanged at 6.46% in week ended March 17
Hero Honda says March sales flat at about 275,000 units
Gail plans to spend Rs180bn on expansion
Patel Eng-Gammon JV bags Rs8.06bn order from Rampur Hydro Electro Project
Tata Power buys 30% in 2 Indonesian coal mines
Moser Baer arm buys 40% in Slovenian Company
Abbott Labs sues Ranbaxy, Teva, Sandoz to block regulatory nod of a generic version of antibiotic Omnicef
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