dear all boarders i have changed my profile detail on my page to teach a lesson to these kind of person`s kindly see that and advise me about that. thanks rupesh...

dear all fine boarders as i said to leave this board yesterday just because of that stupid one dipakgod, now i take back my decision of leaving this board as i hve got to see most of nice and prominent boarders came to give me moral and emotional support that was nice to read every ones msgs who replied me with great concern for me i gave evry reply 5 stars as my love/regards or as friendship/an consolidation of good persons thanks a lot to all of you rupesh711in...

Yes Comatose, The floor price will be 75, but I doubt whether we will reach this....

Can anyone expected today mkt closing. Considering the following factors when analysis: - 1. 5 lakh share join 5100 call ratio for november expiry 2. 3.5 lakh share jon 4900 put ratio for november expiry 3. Dow Jones and Nasdaq has closed down 4. European mkt will open 1.30pm is also a great factor 5. Nifty has good support form 4920, 4900 6. I think yesterday mkt fall becuase govt wants to restricted liqidity ash invested by FII (news only) 7. Nifty has resistence in 5035 8. large Cap Companies like RIL. L&T, Infosys may decide the direction of mkt ...

Sorry Comatose, I don`t remember them mentioning any new buy back price. Was it in the concall after the first quarter or the last quarter of last year. I will check it again. My memory is that they were referring to the original price of 75. I also don`t think they can get sebi approval before getting shareholder approval. ...

Comatose, I don`t think they can revise the buyback rate without shareholders approval. Where did you hear about a revised rate of buyback? I think they are waiting for Sebi approval for the original rate of 75. Remember we all approved 75 as the buyback price....

This news is negetive or positive ? Please give ur views by considering following matter 1. Blade Problem and Finance Difficulty 2. Higher Debts 3. New order made. 21 MW order 4.Sell Stake have reduced its some financial problems 5. May be debt reduced 6. new projects in Rajasthan can go continuosly 7. ANy other factor which U know about this matter Thank You...

While we have recd. our SRF dividends, those of us holding SRF Poly shares have not heard anything from the company, although, SRF Poly has already received the interim dividend equal to Rs. 30/- per share of SRF Poly. I suggest that we all telephone and send emails to the company, requesting interim dividend to be given in SRF Poly also, like SRF. I have already done the same. The details are as follows :
Whole time director : Mr. Rajat Lakhanpal, phone no. : 011-23738494 , and email ID : rlakhanpal@srfdotcom . Incidentally, Mr. Lakhanpal is also to be contacted for Investor Grievances .

...

While we have recd. our SRF dividends, those of us holding SRF Poly shares have not heard anything from the company, although, SRF Poly has already received the interim dividend equal to Rs. 30/- per share of SRF Poly. I suggest that we all telephone and send emails to the company, requesting interim dividend to be given in SRF Poly also, like SRF. I have already done the same. The details are as follows :
Whole time director : Mr. Rajat Lakhanpal, phone no. : 011-23738494 , and email ID : rlakhanpal@srfdotcom . Incidentally, Mr. Lakhanpal is also to be contacted for Investor Grievances . Thanks

...

Srivatsa Krishna in Livemint, 8.11.09

One of my fondest memories at Harvard Business School was being cold-called in the Finance, Accounting and Control class, which left me in a cold sweat, partly because I had, of course, not read the case, and partly because I did not know till then that most things that matter in a balance sheet often lie hidden in the footnotes.

Indiabulls Securities Ltd (IBSEC) and Indiabulls Financial Services Ltd (IBFSL)’s March 2009 reported financials made us hold our breath and read through financials again.


Note 2 to consolidated accounts for IBSEC says—“During the quarter ended March 31, 2009, one of the wholly owned subsidiary of the company has incurred/provided for losses on dealing in securities which has resulted in losses amounting to Rs15,345.04 lakh for the year. This amount has been fully charged off to the profit and loss account and is stated under administrative and other expenses above. Consequently, the holding company has written off loans amounting to Rs18,093 lakh, which were recoverable from this subsidiary in its stand-alone financial statements.”
The following questions arise:

• IBSEC is in the business of retail stock broking. It has never told the market that it or any of its subsidiaries also does proprietary dealings in securities. Has it in the past made profits this way and showed that as normal broking profits?

• How could they make a loss of Rs153.45 crore in the fourth quarter alone?

As of March 2008, the consolidated net worth of IBSEC was Rs370 crore. Net fixed asset was Rs110 crore. The three subsidiaries as of March 08 were (i) Indiabulls Commodities Pvt. Ltd (ii) India Ethanol and Sugar Ltd; and (iii) Devata Tradelink Ltd. During the first three quarters of FY2009, IBSEC made a profit of Rs100 crore. That means the consolidated net worth of IBSEC, as on 1 January, 2009, was approximately Rs470 crore.

From Srivatsa Krishna’s earlier column

Indian markets were largely falling since February 2008. Why would the loss happen only in the March quarter of 2009? The market low/high in March 2009 quarter was within a 25% band. If the subsidiary incurred Rs153.45 crore loss and assuming it bought at peak and sold at bottom, was the subsidiary’s total portfolio upwards of Rs600 crore? How did the subsidiary have an equity portfolio of Rs600 crore if the consolidated net worth of IBSEC was Rs470 crore at the beginning of January 2009? Unless the subsidiary was borrowing heavily (roughly three of debt for every one of equity) and engaging in highly leveraged prop trading, or speculating purely in the futures and options market, the loss isn’t explainable.

We are still scratching our heads! What business was IBSEC in—retail broking or proprietary trading? How could they run such a huge portfolio compared with their net worth? Or is there more to it? We leave it to the reader to draw conclusions, but we hope that investors and regulators (IBSEC would come under the purview of both Securities and Exchange Board of India and Reserve Bank of India) take a closer look at this, if they have not done so already.

Srivatsa Krishna is a Harvard MBA and an Indian Administrative Service officer. He writes weekly on business, government, infrastructure and entrepreneurship. The views expressed here are his own.


...

How Geodesic’s Spokn Deals With India’s Tough Internet Telephony Norms
By MediaNama ⋅ November 17, 2009

Better late then never, Geodesic, which had recently said that it was working on improving the user interface of its VoIP service Spokn, has finally launched its VoIP offering. On the timing of the launch, with the government shuffling its feet on permitting unrestricted VoIP calls, Ashhar Farhan, Head Technology, Spokn, explained, “First, Internet is here to stay. It makes immense economic sense to lay down just one pipe and stream all services through that one pipe. Sooner than later, Radio, TV, Voice and Text will all migrate to the IP cloud.”

Spokn allows users to make voice calls between PC to PC, Phone to Phone, and PC to Phone. It competes with the likes of Skype, Net2Phone, Vonage, Impetus, Novanet and Yahoo Voice. The company is based out of Singapore and has inked interconnect agreements with International Long Distance providers across the globe - and Spokn calls are routed through their networks. These ILD operators receive a revenue share of 60-65% from the VoIP provider (the exact amount is calculated according to volumes and total call minutes) and the call is directed to the mobile or landline number as a normal voice call.

Geodesic MD Kiran Kulkarni explained to MediaNama the process of making a VoIP call: “our system first notes your number when the call is placed, and the number you want to connect to, then disconnects the line. The caller then receives a call back which patches her onto a conference call with the person she intended to call.”

The audio conferencing technique for VoIP is also used by Sabeer Bhatia backed SabseBolo which acquired Jaxtr, and Google was using the same for its short-lived (in India) click-to-call feature.

For calling any phones in India - including landlines and mobiles - the tariff is $0.02, which approximately amounts to Rs. 0.92 (92 paisa)! Calls to US and UK (landline) are also at $0.02 per minute. More on Spokn’s site

And what about calls placed from India to another number in India - a local or an STD call? Geodesic said that they do not terminate calls on to the Indian PSTN lines that originate from India. On being asked how they deal with such calls then, Kulkarni explained “We take it outside and reroute it. And for a call placed from India to any country, the cost doubles to 4 cents for the user.”

Indian government has banned VoIP call termination on public service telephone networks (PSTN or Landlines) and mobiles, even though Indian regulator TRAI had recommended changes be made for allowing VoIP calls to made to PSTN/PLMN or vice-versa within the country.

“VoIP is not illegal in India. All telco license holders are allowed VoIP if they want to use it. The ISPs too are allowed a restricted form of Internet telephony - IP device in India and a PSTN end-point,” said Farhan told us. ”There has been some noise about security concerns. We share these concerns and we have, in our response to TRAI’s consultation paper gone on to recommend even tougher regulations for Internet telephony. Internet telephony in India is regulated and licensed, which is good thing. If there are valid security concerns, then, the service providers are obliged to deal with it,” he said, adding that ”we will remained engaged in the policy debate while calibrating our India offerings to the evolving regulations.”

Currently, Geodesic says there should be no security concerns as both the originating number and the called number are tracked and this information is shared between the ILD operator and the VoIP service provider.

So whose responsibility is it on to keep a track of the source? Kulkarni said Geodesic follows VoIP guidelines set by regulatory bodies in this matter. ”The problem was - there were two routes: the VoIP route and the grey route. This latter was used and users could identify them by the absence of the originating number on the caller id. It would appear as an unknown number. But if a VoIP provider signs up with ILD operators and transmits the call through their networks, users can see the originating international number,” explains Kulkarni. If the call is made from a PC to a mobile, the number shown on the caller id will be a 10 digit US number, preceded by the country code.

The VoIP service also includes a voice messaging service (VMS) where a subscriber can record and send a 20 second message to any email for free and any phone at fixed cost that includes the 20 second reply. Why 20 seconds? Farhan said: When we started prototyping VMS, we came across a three significant issues. First, long winded VMS tend to become more like podcasts. Second, we cannot provide a fixed cost of delivery. Third, the bandwidth on mobiles can make longer messages really slow. Over months, we tested this extensively and hit the sweet spot of 20 seconds. Geodesic is likely to leverage its recent tie-up with Sybase 365 , a US-based voice messaging service.

...

OK, Rumple, just for the sake of argument, let`s say that the buyback comes at 75/- only, and not at any higher price. Even then, it would serve an important purpose and not let the price go down lower, the way it happened in Jan. end this year.

...

Rumple, if you recall,in the earlier concall, they had mentioned in response to a question that they are trying to get a buyback price which is somewhere between the then mkt. price, and the original figure.

Recently, my conversation with the person close to the management, mentioned that they are waiting for the SEBI approval so that the drop in prices could be checked. The clear meaning of this was that the new SEBI approval is to be for a price which would actually be relevant in the present context.

...

Vivek, by posting like this you are only proving manju right when he wrote
" Therefore, all bears, who are writing are simply trying to create panic and buy at lower levels, or frustrated lot who are expressing their anger. "

You know that there is no connection between Aftek and Geod. One of the three promoters of Geod was also one of the promoters of Aftek, but his association with Aftek had ended before he joined the others in promoting Geod. Another promoter of Geod had worked as a consultant to Aftek, again, well before launch of Geod. What you are conveniently overlooking is that there were two other promoters, that Geod has, by its own efforts, risen from being a very small company to a globally relevant company, and is trying very hard to move to the next level. We as investors, strongly appreciate the great work done by them and are with them solidly.

...

Dear Rajesh

Your response to HLN`s post missed out the essence of his message, which was, that " Our country is on a steady growth path, it can grow to unimagined heights, and in our lifetimes, maybe we can see our country standing shoulder to shoulder with other global giants. "

The projections and figures, in actual reality would necessarily be different. But if a country has broad growth momentum, stock market cannot be very far behind.

Have a great Sunday.

...

Saint, got an interesting mail on worrying. It goes as :


" There are only two things to worry about

Either you are well or you are sick

If you are well, then there is nothing to worry about,

But if you are sick, there are only two things to worry about,

Whether you will get well or you will die

If you get well, then there is nothing to worry about,

But if you die, there are only two things to worry about

Either you go to heaven or to hell

If you go to heaven, there is nothing to worry about

AND

If you go to hell, you will be so busy shaking hands with

all your Geod boarders that you would have no time at all to worry !!!


So Why Worry ! "...

The worry would have been if they HAD increased their stake.

Rather, some of them like Mahesh Murthy have pledged their shares to avail of finance for their other requirements.

Where do promoters get the funds to hike their stake in companies ? Obviously by siphoning out the Cos cash and rerouting it back as share capital. The fact that Geod promoters did not increase their stake or issue warrants to themselves (another bad practice, I got out of Bharti Shipyards the minute they announced these warrants), shows them as good corporate citizens. ( Has any Infy promoter hiked his stake ever ?)

The company`s cash position would enable it to buy other cos. (which have a great idea but don`t have fanance), and give it global scale. If they can do it successfully, they could be a mini infy in making.

The dividend has been hiked up recently. You have to appreciate their self discipline, as the real advantage of dividends usually flows to the promoters, who get large tax free dividend income in Crores. Even with my 4000 share my receipts would be barely 3-4000, too little to be of much use. By keeping the dividend payouts low, they were sacrificing some of their personal comfort in order to achieve more for the company.

I find their actions and motives completely above board.

...

Briefly, they are :
THE AXIOMS

1: ON RISK Worry is not a sickness, but a sign of health. If you are not worried, you are not risking enough.
1.1: Always play for meaningful stakes.
1.2: Resist the allure of diversification.

2: ON GREED Always take your profit too soon.

2.3: Decide in advance what you want from a venture, and when you get it, get out.

3: ON HOPE When the ship starts to sink, don’t pray. Jump.

3.4: Accept small losses cheerfully. Expect to experience several whilst awaiting a large gain.

4: ON FORECASTS Human behaviour cannot be predicted. Distrust anyone who claims to know the future, however dimly.

5: ON PATTERNS Chaos is not dangerous until it begins to look orderly.
5.5: Beware the Historian’s Trap (History does not repeat itself).
5.6: Beware the Chartist’s Illusion (Graphs lie).
5.7: Beware the Correlation and Causality delusions (don’t find patterns).
5.8: Beware the Gambler’s Fallacy (..it’s only luck).

6: ON MOBILITY Avoid putting down roots. They impede motion.
6.9: Do not become trapped in a souring venture because of sentiments like loyalty and nostalgia.
6.10: Never hesitate to abandon a venture if something more attractive comes into view.

7: ON INTUITION A hunch can be trusted if it can be explained.
7.11: Never confuse a hunch with a hope.

8: ON RELIGION AND THE OCCULT It is unlikely that God’s plan for the universe includes making you rich.
8.12: If astrology worked, all astrologers would be rich.
8.13: A superstition need not be exorcised. It can be enjoyed, provided it is kept in its place.

9: ON OPTIMISM AND PESSIMISM Optimism means expecting the best, but confidence means knowing how you will handle the worst. Never make a move if you are merely optimistic.

10: ON CONSENSUS Disregard the majority opinion. It is probably wrong.
10.14: Never follow speculative fads. Often, the best time to buy is when nobody else wants it.

11: ON STUBBORNNESS If is doesn’t pay off first time, forget it.
11.15: Never try to save a bad investment by “averaging down” (buying more).

12: ON PLANNING Long range plans engender the dangerous belief that the future is under control. It is important never to take your own long range plans, or other people’s, seriously.
12.16: Shun long-term investments.

....

Hi freer, thanks for your kind words. The idea of the forum is to discuss and move ahead with greater wisdom. So all pertinent subjects should be presented freely....