Reliance Industries has said it will consider a share buyback in its Friday board meeting, and the stock went up 5% to 780. The theory is that Reliance will use its huge cash reserves – over 85,000 crore – to buy back about 10,000 to 12,000 cr. worth of stock. They will do this using [...]

Posted in Credit Repair, Reliance, Stocks Comments Off

It looks like we have a victim of leverage, in Kingfisher Airlines (KFA) Kingfisher, which is partly owned by brewery tycoon Vijay Mallya, has canceled more than 120 flights this week as pilots and crew called in sick after their October salaries were delayed. The airline says flights were canceled because it was reconfiguring planes, [...]

Posted in Credit Repair, KFA, Stocks Comments Off

The latest SAIL results had this to say: vi) Due to unusual and steep depreciation in the value of the Rupee against US Dollar and Euro during the current quarter / half year, the foreign exchange fluctuation loss of a) Rs. 508.72 crore for the current quarter and Rs. 520.37 crore for the current half [...]

Posted in Credit Repair, SAIL, Stocks Comments Off

Bloomberg posts an article about how in the last 30 years, bonds have beaten stocks. But turn the clock back 30 years ago, and what do you find? In 1981, the Volcker move had taken interest rates – and thus yields – to big highs. The 30 year was available at 15% yields, which means [...]

Posted in Bonds, Credit Repair, Stocks Comments Off

I make the case at Yahoo for a common stock ticker set. Have you heard of RELIANCE? Yes, that Ambani company. The fellows that keep arguing about how much gas they’re producing. But it’s also called RIL. And RELIND. Or RELI. Whoa, you think. These are the same company? Why so many names? Or, in [...]

Posted in Credit Repair, Slider, Stocks, Yahoo Comments Off

Network 18 has something funny going on. According to me, the company is helping its own promoters buy more shares. Let me put forth some evidence. 1. A promoter entity called “Network 18 Group Senior Professional Welfare Trust” recently buys shares in Network 18. 2. I now wonder what this is. I check the NSE, [...]

Posted in Credit Repair, Network18, Slider, Stocks, WTF Comments Off

The Infosys stock is down 3.5% to 2,500 as we speak, and it’s a result day tomorrow. Result days are big for the INFY stock; the chart of the day shows the movement of the INFY stock the day before, and on the result day itself. The last five quarters have seen huge negative moves [...]

Posted in ChartOfTheDay, Charts, Credit Repair, Infosys, Stocks Comments Off

TTK Prestige threw in a fantastic set of results today, with 55% EPS growth, and 51% revenue growth, year on year. The stock closed up 7% at 2818. The chart has shown signs of peaking. I have no positions anymore, as I exited on a sharp reversal around 2650. But the stock might be worth [...]

Posted in Credit Repair, Results, Sep2011, Stocks, TTKPrestige Comments Off

Sintex announced results post market hours, at 3:45 pm today. While revenues are up 25% to 1154 cr., the net profit has dropped 61% to just 38 cr. from 101 cr. Much of this loss was due to Foreign Currency Convertible Bonds (FCCBs) based losses. Companies that borrow through FCCBs (in foreign currency) have to [...]

Posted in Credit Repair, Results, Sep2011, Sintex, Stocks Comments Off

Markets are down 1.5% in a sudden move after Moody’s downgraded SBI, India’s largest bank. The Rating goes to D+ from C-. "Moody’s Investors Service has downgraded the State Bank of India’s (SBI) bank financial strength rating (BFSR), or stand-alone rating, to D+ from C-. The revised rating maps to a baseline credit assessment (BCA) [...]

Posted in Banks, Credit Repair, SBI, Stocks Comments Off