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Market Outlook - Short Term |
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Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger...
Tracked by: 1 Boarder
hi udayan
THERE seems a LARGER FRAUD:
my roots as an analyst traces satyam saga since 1997, then it was comparision with Rolta. My assessment then was trusting Rolta for investment. Earned minimum 5 times on various lots before and after dotcom bust. i never trusted this management.
Then came what i feel is the first ever so thought of scam by them like paying 525 crores for 3 dotcom website companies of shady background. I think this would been their first step towards taking out money off satyam to fund their other businesses. Then it might have become a habit of taking satyam`s money off balance sheet using enron like mechanisms and then funding real estate buys of land. How can they own such high land bank without money? their holding has been decreasing in satyam since years. the technolgy performance deteriorated as in `increase in opex etc.` since last 2 years not prior to that. so pre and post real estate boom they might have taken chunks of money out of satyam to maytas and other promoter companies through collusion. This is a huge scam perhaps and not just the case of 7000 crores. Due to weaker regulations he might think of owning maytas completely without the already weak satyam business so there seems a proper thought of scam. (How can bank balance is not tallied to the book balance in the ERP system, the very systems they are implementing in the other companies?)
All in all the government should attach all the assets of maytas give it to shareholders of satyam, as this seems a huge scam of misappropriating and taking over shareholder money.
Rishi ...
In reply to:
Satyam: A cleverly crafted scam
Posted by :
Udayan Mukherjee
So even if there is any kind of a modest bounce in Satyam from whatever price level because people believe that the 5,000 crore of cash is still there, there is a big line of people and the Fidelity and Aberdeen’s of the world are not going to stand down with Satyam right now because of whatever cash is lying on its books. They want out and they want out like yesterday.
So this stock now has huge amount of overhead supply which just cannot be absorbed because the number of sellers far outnumbers the number of buyers in Satyam Computers at any price point. So this stock could fall to Rs 10 even if there is cash on the balance sheet because there would be a large number of institutional investors who have completely seen this lie and I do not think that they would want to hang on there at Rs 80-70 because of any kind of cash lying on its books.
This stock’s value despite the cash or the business operations right now is probably in single digit rupees. Nobody trust this, you have just broken down the trust completely, how do you believe a management which just cooked up everything from its balance sheet to its earning statement over the last many quarters and serially quarter after quarter went on national TV and reported to the exchanges one magnificent lie after another. It is just completely preposterous.
Who do you believe now?
Satyam is a company which is listed on the New York Stock Exchange (NYSE); this is an index company, quarter after quarter it announces numbers which we take as gospel and we do a lot of analysis, every analyst does on whether margin slipped a bit and wage hikes happened and now you know that none of those numbers existed then who do you believe?. Do you believe auditors, who are supposed to be looking at these companies?
This is a fundamental issue of trust and faith which has been shaken. One can forget about the Satyam stock much that we feel very bad about Satyam shareholders that is one company. Here you stand the risk of actually losing your faith and trust in the system, which is supposed to be policing the numbers which you have faith and trust in. What happens to the auditors? This is a company which is not a fly by night small company, it is listed on a global exchange, global investor – they are supposed to be following US GAAP norms etc and quarter after quarter they keep blinkering all their investors and none of us find out till the promoter one fine day decides to confess.
Could there be more companies doing these kind of thing? What are the auditors doing? How will we ever know? You and I cannot be looking at going into and checking the bank accounts of Satyam and what they earned in a particular quarter or not. At some level there has to be an implicit code of faith that we believe what is posted on the walls of the exchange but today we cannot. So what are these people doing – these auditors and tax consultants and even rating agencies, how have they conducted themselves over the last two-three quarters. It is absolutely appalling.
-Udayan Mukherjee, Managing Editor,CNBC TV18 
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Nearly 98% of the companies in India does this in a small way. But they are within limits and don`t go as far as satyam....
In reply to:
Will the Satyam fraud weigh heavily on other Indian IT stocks?
Posted by : MMB Messenger
Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger
Tracked by: 0 Boarder
I have gone through some of the comments in this as well as some other boards - If he was so honest to come out with the truth now where his conciousness was hiding all these days and the real reason to come out 3 days early (not 10th Jan - after asking world bank to retract or face suit, assuring the Employees etc ) - It is a clear indication that he wanted to drag time to get his actions completed - sure he would have made some money for years.
The GOVT Should takeover MAYTAS & all other assets of RR family alongwith all STATES LANDS alloted to SATYAM and auction them to compensate the lessthan 500 - 1000 Nos. shareholders loss.
AP GOVT should cancell all orders given to MAYTAS.
He has given a cleanchit to his family members is again a FRAUD (sorry to use this word)...
In reply to:
Satyam disaster: Experts examine the remains
Posted by : MMB Messenger
It has been one of the darkest days in Indian Corporate History. Early this morning Mr. Raju the venerated promoter of Satyam Computers, one of India’s largest IT Companies dropped a bombshell when he sent a five page letter to the Stock Exchanges confessing one of the biggest frauds in Indian Corporate History.
Tracked by: 0 Boarder
I have gone through some of the comments in this as well as some other boards - If he was so honest to come out with the truth now where his conciousness was hiding all these days and the real reason to come out 3 days early (not 10th Jan - after asking world bank to retract or face suit, assuring the Employees etc ) - It is a clear indication that he wanted to drag time to get his actions completed - sure he would have made some money for years.
The GOVT Should takeover MAYTAS & all other assets of RR family alongwith all STATES LANDS alloted to SATYAM and auction them to compensate the lessthan 500 - 1000 Nos. shareholders loss.
AP GOVT should cancell all orders given to MAYTAS.
He has given a cleanchit to his family members is again a FRAUD (sorry to use this word)...
In reply to:
Satyam disaster: Experts examine the remains
Posted by : MMB Messenger
It has been one of the darkest days in Indian Corporate History. Early this morning Mr. Raju the venerated promoter of Satyam Computers, one of India’s largest IT Companies dropped a bombshell when he sent a five page letter to the Stock Exchanges confessing one of the biggest frauds in Indian Corporate History.
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companies should not cheat investors investing in their company, common investor is investing in market by saving from his pocket and cases like satyam are hell....
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satyam scam is bad for the market, think about the investors who have invested in satyam script, they must be finding cheated, sorry every one really bad...
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I have gone through some of the comments in this as well as some other boards - If he was so honest to come out with the truth now where his conciousness was hiding all these days and the real reason to come out 3 days early (not 10th Jan - after asking world bank to retract or face suit, assuring the Employees etc ) - It is a clear indication that he wanted to drag time to get his actions completed - sure he would have made some money for years.
The GOVT Should takeover MAYTAS & all other assets of RR family alongwith all STATES LANDS alloted to SATYAM and auction them to compensate the lessthan 500 - 1000 Nos. shareholders loss.
AP GOVT should cancell all orders given to MAYTAS.
He has given a cleanchit to his family members is again a FRAUD (sorry to use this word)...
In reply to:
Satyam disaster: Experts examine the remains
Posted by : MMB Messenger
It has been one of the darkest days in Indian Corporate History. Early this morning Mr. Raju the venerated promoter of Satyam Computers, one of India’s largest IT Companies dropped a bombshell when he sent a five page letter to the Stock Exchanges confessing one of the biggest frauds in Indian Corporate History.
Tracked by: 2 Boarders
Dear vs1234, I have simply named it as HH5CUT, LL5CUT, these are nothing but it is only a simply moving averages of past 4 days of highs and lows only. on a excell sheet you can your self make formula and these figours will be in front of you every day every time. My interpretation is that till current rate remains above HH5CUT, remain long and as and when current rate comes bellow HH5CUT, exit from long and go short, and till current rate remains bellow LL5CUT remain short, this will remain a cycle process. Problem is only that the people instead of beleiving on Aayurveda, they beleive on English Medicines like Amibroker, Metastocks etc etc ...
In reply to:
No reasons for markets to go up
Posted by :
vs1234
Hi sir,
I have read your posts and benefitted from them. Just wanna ask you..where do u find these figures of HH5cut and LL5cut ( I am sure they may be somewhere in the charts of nifty whose link u had posted in ur msg, but I am asking for my clarity)
Thx
Regards
VS
Tracked by: 4 Boarders
hello kadiyali...
I have bought 2 Calls of Satyam Srike Price 120 @ 3.80... But I am not sure what is the future of OPTIONS Market in Satyam as still its trading around 3.00 while the CMP is 40...
Do u think i made a blunder by going for CALL....
Further, need your views on whether do i go for more Puts or sell some Calls tomorrow when the market opens a bit up... I am thinking to buy Puts for TATA MOTORS.
Your views on the above would be highly appreciated.
With Regards,
Kushal. ...
In reply to:
stbt : nifty fut.
Posted by : kadiyali
Kushal,
I had asked you to get out of puts wherever you have made profits
only due to two reasons - 1) you can invest the profits into Satyam
at such a panic price 2) Friday we wil have a gap up in nifty in
the beginning, though negative close is certain. One should not
burden himself with so many positions on hand. As & when profits
acrrue, get out of position & remain with clean slate.
Further, I am happy today not because I made good profits today,
but because I was able to maintain my record of not losing in
intraday NF trading even for a single trade, for OPTIONs too. Rgrds.
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there is a need to audit the auditors creditability just like the general public want to raid the raiders in case of income tax/central excise authorities who whimsically harass the honesh tax payers....
In reply to:
SP Tulisan on Satyam scam
Posted by : MMB Messenger
SP Tulisan of sptulsian.com feels the auditors of Satyam balance sheet could not be given a clean chit either. There seems to be clubbing of personal affairs with the company affairs.
Tracked by: 4 Boarders
wht u feel nifty will recover or fall???
gunjan...
In reply to:
stbt : nifty fut.
Posted by :
ibrar3
Hi coolboy
Good you enjoyed the things.
my view... Since i started my short positions today only i dont want to put any target for anything.
No matter its NIFTY or BANKS...
Let market show when it will halt this down trend which started today.
Lets the profits ride, while i am going to enjoy sitting on sidelines.
Regards
ibrar.k.
Tracked by: 0 Boarder
This is not an exclusive matter to Satyam alone. All the companies do this jugglery and the Auditors do not have guts to put it on paper, as they are afraid to losing their revenue and client. Some Independant directors are only for the sake of money and director ships. Why not SEBI regulate the appointment of independant directors after the company short list the candidates. SEBI should also ask the independant directors to submit them a report after each and every board meeting, on the matters which are concerning to the investors value in a transparent manner....
In reply to:
Fraud to take Satyam stock to Rs 10: Shankar Sharma
Posted by : MMB Messenger
Shankar Sharma of First Global said Ramalinga Raju’s confession to the fraud in Satyam`s books would have a huge impact on FII and FDI sentiment in India. "An emerging market has to be more careful. We expects the stock to go down to Rs 10-30 levels.
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here is the list of high profile talkers who just talk in the direction of moving wave. Lot of these people will ask you invest when market is doing right and rationalize it... India way to go, and people are good at giving advice only :D ...
In reply to:
Satyam disaster: Experts examine the remains
Posted by : MMB Messenger
It has been one of the darkest days in Indian Corporate History. Early this morning Mr. Raju the venerated promoter of Satyam Computers, one of India’s largest IT Companies dropped a bombshell when he sent a five page letter to the Stock Exchanges confessing one of the biggest frauds in Indian Corporate History.
Tracked by: 1 Boarder
It is too much to expect MMB to publish your posts without cutting sentences in the middle especially about the "fool hardy experts" which the MMb and their bosses support most wholeheartedly even they have failed repeatedly..
Looks are Deceptive..
People who appear smart need Not be so..
The recent happenings all over the world is a testimony that the masses are duped again and again mostly by "reputed" names..and their vested interests..
one have serious doubts about most reputed names nowadays..
No one can be guide by "experts " unless he himself knows clearly what he is doing and why..Merely relying on "so caled experts" and their vested interests supported by the media is suicidal.....
In reply to:
Satyam: A cleverly crafted scam
Posted by : selvam
A person very good at giving running commentary on cricket on TV and Radio (they are dime a dozen..) need NOT be experts about the actual playing of cricket..But many people take their word verbatim and believe it to be
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