Archive for the ‘ Market ’ Category

Pivot Point Trading

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Jubliant Organosys

Jubilant Organosys and Eli Lilly have entered into a 50:50 joint venture agreement in India, focusing on providing drug development services. This is a strategic collaboration which would be focusing exclusively on developing new drugs in the areas of oncology, metabolic disease, cardiovascular and diabetes. This Bangalore based joint venture will focus on developing molecules [ READ MORE ]

Opto Circuits

Opto Circuits India (OCIL) recently cancelled the proposed $100 million acquisition of a European company, with which it had signed a letter of intent in September 2008. The reason cited is that the demanded price is not justifiable from an economic value perspective. This step is positive for OCIL, as it removes any uncertainty of [ READ MORE ]

Key infra sectors growth plunges to 2.3%

Growth in six infrastructure industries plummeted to 2.3% in August 2008 as compared to 9.5% a year ago i.e. in August 2007 including crude oil and petroleum refinery, showing depressing performance. Crude oil showed a negative growth by 1% in August 2008 compared to a positive growth rate of 6.5% in August 2007. Growth in petroleum [ READ MORE ]

Reliance Industries: Refining blues

In the June 2008 quarter, RIL posted GRMs of $15.7 per barrel, which disappointed the Street which had pencilled in margins of $16-17 per barrel, given the sharp rise in crude oil prices. Refining contributes about 55 per cent to the company’s revenues which were Rs 1.37 lakh crore in FY08. Moreover, industry watchers believe [ READ MORE ]

Indian Markets : Is it bottoming Out?

The Indian market went through an impressive five-year bull market, beginning in 2003 and running until January 2008, fuelled by over $50 billion in FII inflows. During this period, corporate earnings surged at an unprecedented annualised rate of 32%, while multiples expanded from 9x to 19x at their recent peak. Unfortunately, since then, India’s market [ READ MORE ]

Aban Offshore $55 Million Contract Malaysia

Two contracts secured for Deep Driller Aban Offshore Ltd. has received letters of intent for the deployment of the jackup rig Deep Driller 2 offshore Malaysia for two separate well programs. The first three-well program, with revenue of $17 million, has an estimated duration of 90 days in direct continuation of an existing contract. The [ READ MORE ]

PCPIR, Kakinada AP: $85 Billion Investment

Hyderabad: ONGC Ltd has decided to exit the proposed refinery-cumpetrochemicals project at Kakinada in Andhra Pradesh, making way for the GMR Group, which will hold 51% equity in the project that was originally to cost Rs 31,000 crore. The project is part of Andhra Pradesh’s Petroleum Chemical and Petrochemical Investment Region (PCPIR) proposed over 600 square [ READ MORE ]

Nifty: Under pressure

” As soaring crude oil prices, high inflation and weak global cues dampened sentiment, the Indian bourses hit the lowest level in calendar year 2008 during the week”. BS 16th June 2008  In a process NIFTY has lost nearly 28% from its peak(week ending 05th Jan2008) and  a long term investor like me has lost  more than [ READ MORE ]

Currency Valuation: forces on play

What are Currency Appreciations and Depreciations? If nominal exchange rates change so that one Dollar buys more Rupees, then the dollar has appreciated in nominal terms. And the Rupee has correspondingly depreciated in nominal terms because a Rupee can buy fewer U.S. Dollars. If the real exchange rate between the U.S. and India changes, which [ READ MORE ]

Inflation : Impact on Economy

Understanding inflation is crucial to investing because inflation can reduce the value of investment returns. Inflation affects all aspects of the economy, from consumer spending, business investment and employment rates, to government programs, tax policies, and interest rates. What is Inflation? Inflation is a sustained rise in overall price levels. Moderate inflation is associated with [ READ MORE ]

Indian Currency: Impcat of High Crude Price

The fall in the rupee is primarily being attributed to the high crude oil prices, which touched all-time high of over $135 per barrel on May 22, 2008. India imports 73 per cent of its crude oil requirements, thus raising concerns over its widening trade deficit-the difference between the value of goods and services exported [ READ MORE ]

Rig Market in India

A boom in exploration in India has tripled rig usage over the past four years, adding to a global shortage and causing delays in tapping natural gas off the Indian east coast. Transocean, the world’s largest offshore drilling company, may raise rig prices further after India completes the biggest auction of offshore blocks. With crude [ READ MORE ]

Oil prices making headlines..

‘Drowning in oil’ – Economist March 1999 “$10 might actually be too optimistic. We may be heading for $5.” ‘Oil reaches $30 a barrel’ – BBC 15th Feb 2000 “This rise in price is purely temporary” -OPEC Secretary General Dr Lukman ‘Oil hits new record above $80′- FT 14 Sept 2007 “too little, too late,” verdict [ READ MORE ]

Rigs demand: Offshore support companies on rise

As the quest for discovering oil hidden deep under the sea bed gathers momentum, fortune of Indian companies engaged in providing offshore support solutions to oil exploration companies have been riding high on the bourses.  The biggest development in this sector was the announcement of NELP-VI in February 2006, under which a total of 55 [ READ MORE ]

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