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Priya Jain's Comments

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13. Priya Jain  Feb 29, 2012 7:35:31 PM IST Reply

Oil & Natural Gas Corporation Ltd

ONGC Offer for Sale Details
Auction Process: Bidding through a seperate OFS window
Offer Date: 1st March 12
Start Time: 9:15
End Time: 15:30
Lot Size: 1 share
CMP; 293.20
Floor Price (Rs/share): 290.00
No of Shares on Offer (In Cr): 42.78
Offer Size at Floor Price (Rs Cr): 12,405.46
Allocation Methodology: Price Priority (Multiple Clearing Prices)
Margin: 100% Cash Margin

Promoter Shareholding
Pre 74.1%
Post 69.1%
BRLM JM Financial, Citigroup, DSP ML, Morgan Stanley India, Nomura

Futures & Options Activity
Futures Expiry Futures Price
29-Mar-12 294.90
26-Apr-12 296.45

Strike Price Type Expiry Premium
280 Call 29-Mar-12 20.4
300 Call 29-Mar-12 10.45
320 Call 29-Mar-12 4.8
280 Put 29-Mar-12 5.8
300 Put 29-Mar-12 15.2

OFS Highlights

The Government is raising Rs 12,406 Cr (at a floor price of Rs 290) by selling its 5% holding in the company through the auction process.

Allocation will be on a price priority method at multiple clearing prices which will be displayed after the allocation of shares.

Indicative Price will be displayed in the last half hour (15:00-15:30) of the bidding period. Indicative Price is the VWAP of all the bids that have exhausted the quantity offered.

No single buyer other than mutual funds and insurance companies shall be allocated more than 25% of the size of the sale.

Modifications/Cancellation of the orders will be allowed, except during the last 30 minutes of the bidding period (15:00-15:30).

100% cash margin at the order level for every buy order/bid. In case of modification/cancellation, the funds will be released/collected on a real time basis.

Settlement will be completed in T+2 days.
12. Priya Jain  Sep 16, 2011 6:18:27 PM IST Reply

RBI raises repo rate by 25 bps

Check out a nice inflation graphic (or not so good actually):

LinkExternal Link

From Reuters article 'RBI raises repo rate by 25 bps; keeps up hawkish talk'
11. Priya Jain  Jun 20, 2011 3:01:20 PM IST Reply


Urgent help needed
I am using ICICI direct. Is it possible to sell the shares which I have bought in 'Cash Buy' on the same day?

i.e. I bought GTL Ltd few hrs back and would like to sell them today itself. I believe there shouldn't be any problem as there will be no delivery as it will settle same day. Just wanna make sure as I never did that before on ICICIDirect.

Thank in advance for your help.
11.1. SkDash  Jun 20, 2011 3:35:02 PM IST


U can very much sell the shares bought on the same day, that may be on cash or out of margin. It is same no matter who is yr broker.
11.2. Priya Jain  Jun 20, 2011 3:42:42 PM IST


Thx SkDash.
10. Priya Jain  Jun 6, 2011 3:21:25 PM IST Reply

Bajaj Corp Ltd

Hello Boarders,

How do you find the ex-date for dividend paying shares? For example Bajaj Corp has recommonded Rs 9.5 dividend but I don't know the ex-date.

Thank in advance for your help.

10.1. Priya Jain  Jun 6, 2011 6:40:41 PM IST

Bajaj Corp Ltd

Thank you Durai for valuable links.

But I still do not see the ex-date for Bajaj Corp in there. Why is it that?

The last update was:

Board recommends Dividend | 30/04/11 17:44

Bajaj Corp Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 30, 2011, inter alia, has recommended dividend on equity shares of the Company @ 190% (i.e. @ Rs. 9.50 per equity share of the face value of Rs. 5/- each) for the year 2010-11. The dividend on equity shares, if declared by the members at the forthcoming Annua1 General Meeting of the Company will be credited / dispatched from August 09, 2011 onwards.

Does this mean the ex-date will be declared on August 09, 2011?
10.2. Durai Raj,Tirupur  Jun 6, 2011 10:57:05 PM IST

Bajaj Corp Ltd

Dear Priya Jain,
This is the procedure...
1. BOD will first recommend the dividend, Which will be transacted as an ordinary business in the AGM, if majority accepts, it will be declared (however shareholders has no powers to increase the % of dividend, but can reduce it with majority interest)
2. Then they will fix a record date for it's payment.

3. Dividend should be paid within 30 days of it's declaration.

Thus Bajaj corp is going to keep the AGM within august and will fix a record date (to be announced soon) then will dispatch it from the date mentioned by them....
10.3. Durai Raj,Tirupur  Jun 6, 2011 10:58:46 PM IST

Bajaj Corp Ltd

Dear Priya Jain,
This is the procedure...
1. BOD will first recommend the dividend, Which will be transacted as an ordinary business in the AGM, if majority accepts, it will be declared (however shareholders has no powers to increase the % of dividend, but can reduce it with majority interest)
2. Then they will fix a record date for it's payment.

3. Dividend should be paid within 30 days of it's declaration.

Thus Bajaj corp is going to keep the AGM within august and will fix a record date (to be announced soon) then will dispatch it from the date mentioned by them....
9. Priya Jain  Jun 1, 2011 3:40:14 AM IST Reply

Andhra Sugars Ltd

Hello Durai, Gane, Sreedhar

What do you guys suggest about Andhara sugars Ltd. Is Rs 95 a good price for that.
9.1. Gane  Jun 1, 2011 3:37:36 PM IST

Andhra Sugars Ltd

Priya Jain,

I am sorry that I am not following any sugar stocks. So I cannot say anything about it.

9.2. Durai Raj,Tirupur  Jun 1, 2011 5:08:48 PM IST

Andhra Sugars Ltd

Dear Priya Jain,

Myself too not following the Script, but i got the following informations for you..

1.No fund Activities found in the Script
2.Available less than it's book value
3.Earns good Profit Compared to it's peer groups
4.Increase in Raw Material Stock had Contributed to it's profits
5.Seems to be available at cheaper price than compared to its pear groups...
9.3. Priya Jain  Jun 1, 2011 9:41:25 PM IST

Andhra Sugars Ltd

Dear Durai and Gane,

Thanks for your response.

I am planning to buy this stock for dividend yield. Do u think i cld add this in my portfolio at this moment or should i wait for another price fall.
8. Priya Jain  Apr 13, 2011 4:53:34 PM IST Reply

Action Construction Equipment Ltd

MLR Securities Pvt Ltd's recommendation on ACE

Action Construction Equipment Ltd (ACE) is into manufacturing of construction equipments. The company is the market leader in mobile cranes and is increasing its presence in several other construction equipments also.

The stock is currently trading at 11.3 and 8.4 x FY11e and FY12e EPS of 4.2 and 5.7 respectively. We spoke to the management and we believe that the stock has the potential to surprise on the upside on account of increase in sales volumes and recommend a buy with a target price of 57 (10 x FY12e EPS).

Investment Rationale

9mth FY11 Net Sales saw 63% jump yoy, likely to report 59% yoy growth in Net Sales in FY11e and 25% yoy in FY12e

Low levels of mechanization and huge investment plans in the construction industry augurs well for construction equipment manufacturers like ACE

Large client base with presence in all major Infrastructure, Construction, Heavy Engineering and Industrial Projects across the country through a wide product range

EBITDA margins likely to show improvement as company plans to start passing on the rise in raw material prices in the past few quarters

Established segments like pick & carry cranes, mobile tower cranes, fixed tower cranes, crawler cranes likely to grow at 20%

Pick and carry cranes capacity to increase from 4800 units/annum to 9000 units/annum, Fixed tower cranes capacity to increase from 150 units/annum to 300 units/annum in FY11

New production unit for tractors to come up in FY12, capacity likely to double from present 4,000 units/annum to 8,000 units/annum

Market share likely to increase going ahead in products like back hoes, forklifts, etc. as new capacity comes up

Key Risks

Sharp increase in steel prices, slowdown in construction activities, competition from other players.
7. Priya Jain  Mar 14, 2011 10:40:49 PM IST Reply

Cairn India Ltd

SEBI 'inadvertently' clears Vedanta open offer for Cairn

The stock market regulator SEBI inadvertently uploaded on its Web site at 4 p.m. on Monday, that it had issued final observations and cleared Vedanta's open offer in Cairn India worth Rs 13,610 crore (for up to 51 per cent stake in Cairn India), which was picked up immediately by wire agencies.

The news was short-lived when the regulator reverted to its original status by 5 p.m.. When contacted, SEBI officials confirmed that it was a mistake on their part and the status is still under process.

An open offer works as follows: Companies have to make a public announcement (PA) within four days of the offer being triggered. The draft letter of offer and due diligence is then filed by the acquirer (in this case Vedanta) to SEBI not later than14 days from the PA.

SEBI is then expected to provide its comments and observations within 21 days. On receipt of final observations, the acquirer has to send a letter of offer to all shareholders within 45 days of the PA.

The open offer begins after 10 days thereafter and remains open for 20 more days. The acquirer has to complete the formalities including the payment of consideration within the next 15 days making the total process a 90-day affair.

Source: The hindu business line
6. Priya Jain  Feb 24, 2011 2:49:40 PM IST Reply

SBI interest rate changed

State Bank of India (SBI) has change the interest rate for it's bond. On bonds of 10 years duration (with a call option after five years) and 15 years duration (with a call option after 10 years), the bank will offer 9.75 per cent (10 per cent earlier) and 9.95 per cent (10.25 per cent) interest respectively.In the case of non-retail investors, the bank has left the interest rates unchanged, ie, at 9.3 per cent for 10 years and 9.45 per cent for 15 years.
6.1. Subramanian Nagarajan  Feb 24, 2011 4:57:15 PM IST

SBI interest rate changed

Dear Priya Jain,

For retail, 9.75% and 9.95% were already announced. What is the change in it?
Did you mean they changed those into 10% and 10.25% respectively?
I don't understand. Please clarify.
6.2. Priya Jain  Feb 24, 2011 5:41:19 PM IST

SBI interest rate changed

Dear Mr Nagarajan,

Looks like i missed something. I was thinking the intrest rate is 10% and 10.25%.
5. Priya Jain  Feb 9, 2011 4:58:10 PM IST Reply

Reliance Infrastructure Ltd

(Reuters) - Billionaire Anil Ambani's Reliance ADA Group on Wednesday blamed a sharp drop in its stocks on what it said was a series of "baseless and motivated rumors" spread by rivals, and said it had complained to the market regulator.

"This has been accompanied by vicious and illegal bear hammering of our listed stocks, to create panic and destabilise the markets," a group spokesperson said in an emailed statement.

It said it had asked the Securities and Exchange Board of India and the stock exchanges to investigate.

What do you guys think. What is going on? Somthing is seriously wrong.
4. Priya Jain  Feb 9, 2011 3:04:54 PM IST Reply

Reliance Infrastructure Ltd

Hello All,

ADAG Stocks Reliance Infra down over 20 pct, Reliance Comm slips 15 pct, Reliance Capital down over 14 pct, Reliance Power slips
nearly 10 pct

What is going on?

Any inner circle news?

Is it a technical error?

Should we pickup some shares?

Thx for quick response.
4.1. Ravi, Bangalore  Feb 9, 2011 3:37:39 PM IST

Reliance Infrastructure Ltd

If you are a trader, BUY. If you are investor NO.

Stocks that are cracking now are weak stocks. You can play for technical bounce.
4.2. Priya Jain  Feb 9, 2011 3:57:40 PM IST

Reliance Infrastructure Ltd

Hello Ravi,

Thx for the quick response.
I will wait as I am a long term investor.


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