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Tracked by: 1 Boarder
can you tell me what will happen to mangalore chem when gas comes ?...
In reply to:
jan 20 th
Posted by :
gkmurthy1748
it reached 89 when these favourable conditions were looming large =========== gas is coming next month ===========sub amount is in cash ============ import price parity ========cuddalore in 2.5 years ===========our people are scared when they got a big slap on 21st and 22nd of jan ============when we are in sm we have to see the steam and invest ==========i feel it will reach =====i stand by my word == 
Tracked by: 0 Boarder
where did you hear this absurd news ?...
In reply to:
co. selling stake to educomp
Posted by :
anu11
co. selling stake to educomp ? is it true ?
Tracked by: 0 Boarder
For income tax purposes the cost of indiabulls finance share is 97.16 % of your pre split cost and indiabulls securities is the balance i.e 2.84 % of presplit cost. This info was posted on the indiabulls site some time back. For income tax purposes date of purchase of pre split indiabulls finance shares will be deemed to be the purchase date of indiabull securities shares ( for calculation of Long term or short term capital gains )...
In reply to:
Issue price of Indiabulls sec
Posted by :
Sisirkant
Hi, can anyone please tell me at what price Indiabulls sec got listed ? I have 80 shares of indiabulls finance which i had bought last year. So I have split the buying price. Can some one help me? Thanks!
Tracked by: 0 Boarder
This Stock Can hit 38 ST , SST 32,VSST 29...
In reply to:
20000 shares @ 33.20, What to do ?
Posted by : Guest
I have 20000 shares (Twenty Thousand shares) @ Rs. 33.20 each. Will I be benefitted in short term ? (Till September 4 th)
Tracked by: 0 Boarder
I saw the effective date as 8-may-8. Unless you held the shares on this date, you will not get the dividend.
Regards....
In reply to:
dividend not received
Posted by :
kunal.jethwa
Hi,
I hold this share almost from june end...however I have still not received the dividend delcared for May..
Please help me where should I contact..
Tracked by: 0 Boarder
see you after 29 aug. AGM ...
In reply to:
Record Date for Bonus
Posted by : mgbalu
No body is sure about the bonus date.Each one responnds to his will and pleasure.Will Mr.Krishnamoorthy the learned analyser answer to it?
Tracked by: 0 Boarder
Don't worry. You may see the stock in future not today, because today is the sentimentally bear market expecting inflation higher than what market expected. Be ready with the stock by holding delivery to get good margins....
In reply to:
Buy..Buy..
Posted by : Guest
But there is no buying Open Interest, it is now in F&O. It might go upto Rs 30 level
Tracked by: 1 Boarder
mic is a very good company result is a exelent
target 180...
In reply to:
Stocks to watch: Glenmark. MIRC Elec, Marico, RPL
Posted by : MMB Messenger
The medal cheer seems to have rubbed off on the markets too. The indices snapped a five session losing streak in style. Ganesh Shanbhag, CEO of SMS Financial Services is positive on MIC Electronics. Vijay Bhambwani, bsplindia.com is positive on Glenmark, Marico, RPL and Cairn.
Tracked by: 1 Boarder
The medal cheer seems to have rubbed off on the markets too. The indices snapped a five session losing streak in style. Ganesh Shanbhag, CEO of SMS Financial Services is positive on MIC Electronics. Vijay Bhambwani, bsplindia.com is positive on Glenmark, Marico, RPL and Cairn....
Tracked by: 1 Boarder
Dear Girn,
I understand your position - even to me, it is not possible to accumulate beyond certain limit. But, I am convinced that with some reliable information that some one is accumulating. And the brokers using the market trend to hammer it and buy it at cheap. Tell who is ready to sell this gem below 2300??? The transactions you are seeing may be just circular trades to create shock in the minds of small investors. I am a longterm investor as for as this stock is concerned. A good stock available at throw away price. Compare PE multiples of this stock, with it's peers.Therefore I never mind if its market value is temporarily down. It does not make any difference to me. Morever, I take very nominal risk which is manageable to me.
Another stock I am watching SUVEN life sciences. It is another Glenmark in the making. I will buy it once it is available at Rs.22 or below.
These are value buying transactions.
Regards...
In reply to:
Buy Aban Offshore, target of Rs 5555: Hem
Posted by : girin
If a person has deep pocket then he can keep buying at every dip.....not for folks like me... Today it has touched another landmark of less than 2300...wait for the crash... it is hitting 1900 for SURE !!!! ....BUY the stock then....
Tracked by: 0 Boarder
TD has got nod from BSE/NSE. SEBI\\`s nod is pending. SEBI has asked for some clarifications regarding the demerger and TD furnished it last week. it will be listed soon. More over the employees of TD are getting more shares at this low level last week. TD may go up at any time...
In reply to:
What the court did to TD?
Posted by : mcprasanth
am telling afte chceking thsoe. it's not ablout listing..it's about share holding pattern.
chcek ttml site
Tracked by: 0 Boarder
U r Sure to get reurns from the amalgamated company once the deal with foreign collaborators is finalized just be stay tuned and have patience . i have purchased 1500 shares at 14.30/- dont panic....
Tracked by: 0 Boarder
The government has cleared Rs 22,000 crore in cash as subsidy to the fertilizer industry. Sanju Verma, ED & Head of Institutional Business at HDFC Securities said that the fertiliser sector is poised for a huge growth trajectory. The gas pricing for fertiliser is circumspect and needs to be addressed, she said.
According to Verma, gas pricing is the key to alleviate margin pressures of fertiliser companies. The downside would be limited, provided the government evolves a rational pricing policy, she said. Her top pick is Tata Chemicals. Her price target for it is Rs 444. The Sensex may retest 13000-13500 levels, Verma said.
Excerpts from CNBC-TV18’s exclusive interview with Sanju Verma:
Q: How is the fertilser sector looking?
A: I think this sector is poised for a huge growth trajectory going forward. I think we need to differentiate between how this sector is poised fundamentally and how the stocks will perform going forward. As usual stocks have already reacted and made a significant upmove ahead of the actual numbers kicking in with respect to the positive fallout that will eventually happen because of policy announcements on both urea and phosphates.
So companies going forward should benefit tremendously because one of the biggest drawbacks in the fertiliser space apart from the lack of availability of feedstock like gas has been the archaic fertiliser policies, I think the government has done quite a bit of damage control there by agreeing to market-linked pricing or as you would call it import parity pricing at least for incremental capacities beyond 110% of current production capacities.
So to that extent, a part of the problem has been addressed. However what has not been addressed is the pricing of gas. As a layman, one should rightly assume that if the current global price of gas is anywhere between USD 10-12 per mmbtu, why should an ONGC or any other PSU supply gas to the fertiliser units at about USD 2.5 or 2.9 and why should Reliance once the KG-D6 gas basin comes on stream? Why should they continue to supply gas at USD 4.4? So they have agreed to do that in principle.
Going forward, the pricing of gas needs to be addressed just as much as the pricing of n products like urea and phosphates has been partially addressed in this policy.
Q: If that is indeed rationalised won’t it mean negative news for the fertiliser stocks. Do you see pressure on margins off their backs anytime soon?
A: I think from a margin perspective, things can only go better from here because most fertiliser companies today either operate on naphtha which is more than 50% more expensive than gas. Two, a couple of fertiliser units operate partially on naphtha and partially on gas. Given that gas availability in India over the next two years as per official estimates is likely to have a 2.7 times jump, I think availability of gas is not a concerned; it is the pricing of gas which remains slightly circumspect and if that is addressed then the margin pressures will not be something to contend with.
Most of the fertiliser units today in any case are having operating margin to the tune of just about 11-12%. The most cost efficient ones like Tata Chemicals or Chambal Fertilisers have margins in the region of 18-20%. So the downside is limited provided the government comes out with a rational policy with respect to pricing of gas which they will do going forward because it isn’t the government interest to ensure that incentives are given to local producers here rather than importing fertilisers from abroad.
The price of urea has jumped primarily thanks to India; all the way from USD 200 to USD 750 in a year ditto with phosphoric acid which we import. The prices there globally have gone up from USD 500 to close
...
In reply to:
yay!MoF clears Rs 22K cr cash as subsidy
Posted by : anu11
MoF clears Rs 22K cr cash as subsidy for fert cos
Published on Wed, Aug 20 at 13:46 , Updated at Wed, Aug 20 at 14:27
Source : CNBC-TV18
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Ram Vilas Paswan, Minister of Chemicals & Fertilizers and Steel has said that Ministry of Finance has cleared Rs 22,000 crore in cash as subsidy for fertiliser companies. He said that the second tranche of Rs 32,000 crore subsidy would also be paid in cash. The government will pay the first two tranches of fertiliser subsidy within three months, he said. The first two tranches of fertiliser subsidy would amount to Rs 54,000 crore, he said.
Paswan said that he has called a meeting to review the iron ore prices. He sees the total fertiliser subsidy burden at Rs 1,19,000 crore.
Tracked by: 0 Boarder
The government has cleared Rs 22,000 crore in cash as subsidy to the fertilizer industry. Sanju Verma, ED & Head of Institutional Business at HDFC Securities said that the fertiliser sector is poised for a huge growth trajectory. The gas pricing for fertiliser is circumspect and needs to be addressed, she said.
According to Verma, gas pricing is the key to alleviate margin pressures of fertiliser companies. The downside would be limited, provided the government evolves a rational pricing policy, she said. Her top pick is Tata Chemicals. Her price target for it is Rs 444. The Sensex may retest 13000-13500 levels, Verma said.
Excerpts from CNBC-TV18’s exclusive interview with Sanju Verma:
Q: How is the fertilser sector looking?
A: I think this sector is poised for a huge growth trajectory going forward. I think we need to differentiate between how this sector is poised fundamentally and how the stocks will perform going forward. As usual stocks have already reacted and made a significant upmove ahead of the actual numbers kicking in with respect to the positive fallout that will eventually happen because of policy announcements on both urea and phosphates.
So companies going forward should benefit tremendously because one of the biggest drawbacks in the fertiliser space apart from the lack of availability of feedstock like gas has been the archaic fertiliser policies, I think the government has done quite a bit of damage control there by agreeing to market-linked pricing or as you would call it import parity pricing at least for incremental capacities beyond 110% of current production capacities.
So to that extent, a part of the problem has been addressed. However what has not been addressed is the pricing of gas. As a layman, one should rightly assume that if the current global price of gas is anywhere between USD 10-12 per mmbtu, why should an ONGC or any other PSU supply gas to the fertiliser units at about USD 2.5 or 2.9 and why should Reliance once the KG-D6 gas basin comes on stream? Why should they continue to supply gas at USD 4.4? So they have agreed to do that in principle.
Going forward, the pricing of gas needs to be addressed just as much as the pricing of n products like urea and phosphates has been partially addressed in this policy.
Q: If that is indeed rationalised won’t it mean negative news for the fertiliser stocks. Do you see pressure on margins off their backs anytime soon?
A: I think from a margin perspective, things can only go better from here because most fertiliser companies today either operate on naphtha which is more than 50% more expensive than gas. Two, a couple of fertiliser units operate partially on naphtha and partially on gas. Given that gas availability in India over the next two years as per official estimates is likely to have a 2.7 times jump, I think availability of gas is not a concerned; it is the pricing of gas which remains slightly circumspect and if that is addressed then the margin pressures will not be something to contend with.
Most of the fertiliser units today in any case are having operating margin to the tune of just about 11-12%. The most cost efficient ones like Tata Chemicals or Chambal Fertilisers have margins in the region of 18-20%. So the downside is limited provided the government comes out with a rational policy with respect to pricing of gas which they will do going forward because it isn’t the government interest to ensure that incentives are given to local producers here rather than importing fertilisers from abroad.
The price of urea has jumped primarily thanks to India; all the way from USD 200 to USD 750 in a year ditto with phosphoric acid which we import. The prices there globally have gone up from USD 500 to close to USD 2000; a four times jump in just about 12-18 months. So it makes sense for the government to ensure that there is a rational pricing policy with respect to end products like urea, phosphate, chemicals and also a rational pricing policy with respect to gas which is a key feedstock given that naphtha will increasingly get phased out as it is very expensive and it does not make sense for the government to incentives players to use naphtha because at the end of the day the government in a lot of cases is still giving companies the benefit of cost plus pricing.
Q: What would be your pick of the pack?
A: Our top pick at this point in time is Tata Chemicals. We have a price target there of Rs 444. I think it combines the best of both; the earnings growth compounded will be in excess of more than 25%. At the same time unlike the crazy run-up in valuations that we have seen across space with respect to be it a Chambal Fertilisers or Nagarjuna valuations are still looking sane and sanguine in the case of Tata Chemicals. It’s trading at less than ten times on price to earnings and less than six times in EV/EBITDA (Enterprise Value/ Earnings Before Interest, Taxes, Depreciation and Amortization) less than two times on EV/Sales which is a very important parameter for valuing fertiliser companies.
I think in case of Tata Chemicals, the big trigger is the fact that today soda ash prices in the spot market are trading in excess of USD 400 a tonne whereas we have assumed that going forward given the Tata Chemical contract its soda ash prices every December; we have not given them the benefit of more than USD 286 in our assumptions. So there could be significant upside and Tata Chemicals is the only company which has not just announced capex anticipating a positive urea policy. Unlike the others it has gone ahead and invested in capex and the full impact of the benefit of capacities in urea going up from 0.8 to 1.2 million tonne in the case of Tata Chemicals will be felt in the Q4 of FY09.
In the case of Chambal and Nagarjuna the actual benefits from a capacity increase will only happen 18-20 months down the line. So the stocks have gone up more on the back of hoopla because the actual numbers will start playing out only by FY10 in a best case scenario.
Q: Well you are meeting all the fertiliser majors tomorrow in the HDFC Conference. What are you really expecting to, want to learn from them? Are Chambal Fertilisers and Nagarjuna Fertlisers coming there by the way?
A: That’s a very difficult question. I think you have everything to learn in the fertiliser space given that there is so much of confusion still with respect to how to differentiate between urea and phosphates and why is it that certain raw materials are compensated under the cost plus regime, and why not certain others? Why is that there is a differential pricing with respect to units that earned Hazira- Bijapur- Jagdishpur (HBJ) pipeline and units that are not. So there are still a lot of grey areas that need to be sorted out with respect to who is coming.
Q: Just a word on the markets at this point in time - we have seen a fairly big fall a 200-point fall it didn’t begin that way but markets are crawling lower. Your perspective for a slightly longer-term, do you expect that the markets are not showing enough strength to build on the kind of move we saw from 12,500 or 3,800? Do you think a revisit is possible?
A: I think maybe a revisit to 13,000-13,500 is possible. But I am surprised at the fall today and at the stickiness of the markets even yesterday because while I have always maintained I am a long-term India bull and that continues because even before anyone else was saying so in June, we had put out a strategy note where we categorically said we expect oil prices to cool-off to about USD 110-115/bbl or so by August. We stand vindicated on that front. If indeed oil is going to recoil downwards, then the market should look up.
Speaking of the negative sentiment in the last two-days, it has to do with inflation more than anything else. While a lot has been made of the fact that the incremental pace of inflation on that front has come down to 0.05 from 0.5 two-months back, I think the big concern is food inflation. If one looks at the inflation numbers that were announced for the week ending August 2, the incremental pace of inflation on the food inflation front has been 0.9. So that is a bit of a concern.
While the monsoons have played catch up, I think there are still large parts of Maharashtra, Andhra Pradesh, Gujarat, which are a large oil seeds and pulses producing states where the monsoons may have played catch up - but still there is a lot of work to be done there. So the big swing factor will be inflation based on how monsoons play out going forward and of course the fact that sugar prices have jumped all the way from Rs 14 a kg six-months back to about Rs 19 a kg and actually in some places at about Rs 22 a kg.
Benchmark raw sugar prices have gone up 28% year-on-year. The scenario going forward could only get worse because of a lot of problems from Brazil while they have sown 12% extra; the production could actually be down by 12-13% which means that inflation from the food front could actually play a bit of a spoil sport gong forward though oil and commodities might take a breather thanks to the strengthening dollar. I do believe that the dollar will strengthen going forward.
Speaking of the immediate markets, actually the derivative indicators are showing positive trends. After a long time the Put IVs (Implied Volatility) are just about 25-26% and the Call IVs are higher at about 35-36%, which indicates that there should not be a downside bias. The only concern is that the Put-Call ratio has dropped from 1.4 to about 1.1, which indicates that maybe a lot of Put writing is not happening. I think if you see more aggressive Put writing happening, then I won’t be surprised if we go back to about 4,500-4,600 levels over the next ten-days or so.
So yes, there is an upside bias on the back of derivative indicators; there is an upside bias on the back of fundamental indicators as well, but I think inflation and the monsoons will be two variables which could play spoilt-sport or otherwise.
...
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