Market Buzz, Gossips

[wannabe]

BEARS are said to be readying for another attack on Suzlon.....

yea...so true... i was timely advise to exit...i was holding 1000 @ 92.. booked loss in some and profit in some and totally shut the stock.

nice reading..
cheers

 

[sudoku1]

sebi considering fortnightly futures contracts !

 

[rajeshn2007]

BEARS are said to be readying for another attack on Suzlon. In March this year, they had almost driven the company to bankruptcy by wrecking the stock price. The disappointing earnings performance of the company during the September quarter appears to have emboldened the bears for a renewed offensive.

The buzz is that short-sellers are not counting on weak earnings alone. They appear to be convinced that there is some other news as well in the offing. Suzlon shares closed at Rs 58.25 on Tuesday, down 13% over the previous close. The stock is already down nearly 60% from its high of Rs 145 seen in June this year.

Mkts up 500 pts, suzlon dn 5% , is in firm grip of bears !

 

[rajeshn2007]

sebi considering fortnightly futures contracts !

Thanks for the info. Also, BSE introducing weekly contracts ?

 

[columbus]

sebi considering fortnightly futures contracts !

Since the volatility is so high nowadays, it is
not worth of thinking about it.

 

[rajeshn2007]

Faced with bear hug, co plans PR mission.

THE relief rally on Wednesday brought no solace for one of the Nifty companies, which continued to be under pressure. The buzz is that the company’s corporate communication team has been frantically calling up equity analysts, and offering to provide any “clarification” that they wanted on the company’s financials.

 

[AW10]

Thanks for the info. Also, BSE introducing weekly contracts ?

I guess this is just going to create more arbitrage opportunities.. (I wonder whether some professional arbitrager has joined the BSE/NSE decision making board).

 

[rajeshn2007]

SUZLON shares were among the biggest gainers on Thursday, rising over 13% to close at Rs 62.50, and snapping a eight-day losing streak that had prompted speculation of the company facing difficulties. The stock rose, even as the company informed stock exchanges that it had pledged additional shares with Indiabulls Financial Services, to which it owes roughly Rs 200 crore.

A person familiar with the development said additional shares had been pledged to provide for margin due to the 34% fall in stock price in less than two weeks. The shares were being hammered on talk that the company was struggling to refinance its foreign currency loans. The dramatic surge in the stock price on Thursday was driven by talk that the company has now managed to refinance close to Rs 10,000 crore of loans. A leading state-owned bank is said to have provided the wind power company a fresh loan of $465 million.

Have the bears called off their attack? Suzlon November futures closed at a slight premium to spot, with open interest rising 2.6%. This could indicate that in addition to covering of short positions, some fresh long positions too may have been initiated. Bears were hammering the shares in the hope that the company would not be able to meet the margin requirement, thus prompting the lender to offload the pledged shares.

While the company may have tided over its liquidity problems, bears seem to be taking heart in the weak operating performance, and are still hoping to rake a neat profit on their short positions.

 

[rajeshn2007]

Dolphin Offshore eyes mega deals.

The company is currently executing projects worth Rs 380 crore 10% higher than its turnover for FY09. ONGC, which is its principal customer, is in the process of awarding contracts of over $1 billion for laying new pipelines and setting up new platforms in its Bombay High field. Fighting hard domestic and international competition, Dolphin is eyeing these tenders to fuel its future growth.

 

[rajeshn2007]

Reliance is looking for a big acquisition. Recently they have sold more than 1 cr treasury shares, amounting to 2800cr.

Buzz is- they are ready for the big acquisition.