Dow Jones- Crashes by 300 points

Dow entered the territory of 6000 yesterday going below 7000 and finally Dow and S&P closing at 12 year low after insurance company American International Group’s huge quarterly loss added to worries about the financial sector and the economy.

>Dow Jones industrial average (INDU) lost almost 300 points, or 4.2% to end at 6763.29, its lowest point since April 25, 1997.
>S&P 500 (SPX) index lost 34 points, or 4.7%, ending at 700.82, its lowest close since Oct. 28, 1996.
> Nasdaq composite (COMP) lost 55 points, or 4% to end at 1322.85 above its close of 1316.12 from Nov. 20, 2008.

Reliance Petroleum merges into Reliance Industries

Reliance Petroleum Ltd has informed the market that on aBoard Meetign that was held on March 02,2009 , They have agreed on the amalgamation of scheme to merge with Reliance Industries Ltd (the “Transferee Company”) under the provisions of Sections 391 to 394 of the Companies Act, 1956.The Scheme shall be subject to necessary approvals of shareholders and creditors and sanctions of the Hon’ble High Court of Judicature at Bombay and the Hon’ble High Court of Gujarat at Ahmedabad.
Merge Details
Date of the amalgamation or Merger is April 01, 2008.
Merger Stock details : Every Reliance Petroleum Shareholders will receive 1 fully paid equity share of Rs 10 each of Reliance Industries Ltd for every 16 fully paid equity shares of Rs 10 each of the Company held by them on the record date to be fixed by the Transferee Company.

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Tata Nano to be launched on March 23 2009

Tata Motors informed the market that the much awaited car of the Year “Tata Nano” will be launched on March 23 .They also confirmed that it will be available for booking from April Month.
From first week of April the car will be available on display in the Dealerships and bookings may start from second week of April.The total amount for booking and what is the booking process will also be announced on march 23rd 2009.The booking money is likely to be between Rs 50,000 and Rs 70,000. As we already know that SBI has put a deal with Tata Motors for being Sole Booking agent for Tata Nano.

Bosch closing down banglore plant temporaily

Almost every industries is feeling the heat how bad is to close down the company on a holiday season ,Bosch Ltd has informed the market that in order to adjust production to meet the demand for products and to avoid unnecessary inventory buildup, the Company is closing down temporarily production operations at its Bangalore Plant starting from December 25, 2008 to January 01, 2009.

Are You Blaming Others For Your Losses.....?

losing money in the stock market is a usual phenomenon but some of us go on a blaming streak. They blame the market for being volatile, they blame the government for raising or lowering interest rates, or they even blame their friends for giving them hot stock tips.

For the amateur trader nothing is ever their fault. Something outside of his control made him lose money on his last trade. If they buy a stock and the market crashes it isn't their fault. After all he did what he believed was the right thing to do.

The professional trader thinks a little different. Everything that goes wrong is his fault. If he places a trade and loses money he takes the blame and looks to see what HE did wrong. They should have been prepared just in case the market crashes.

Funny how that works, trading armatures never make mistakes but professionals (the ones making money in the market) make mistakes all the time. At least that is how they perceive it. The Real benefit of accepting loss as a bad decision is it leads to growth.

When you blame others you assume that it was not your fault, so you do not need to improve on anything. When you take responsibility for your losses you tend to want to fix the mistakes you have made. You want to look back and see what you did wrong so that you will not make the same mistakes in the future.

The first question someone who lost money should ask is. Did I follow my rules? If not how can I make it so I follow my rules more closely in the future? Maybe you have to become stricter when following your investment plan. If you were following your rules and you still lost money then you should look at your rules.

What is the weakness of your trading strategy? (Every strategy has one). How can you improve it, how can you make it so you don't lose money again in the future? Accepting the blame and attempting to fix the problem when something bad happens is the only way to enjoy long lasting success as a trader.

Inflation for week ending December 6th 2008 at 6.84 percent..

Inflation data came out today and it was surprise to everyone but i was kind of thinking it will come down to like 7 percent as the fuel price cut would come into inflation data .For the week ending December 6 the inflation stood at 6.84 percent compared to 8 percent week over week.
What got the Inflation down

>Wholesale price Index (WPI) for all commodities down 1.1% (WoW) to 231.1
>WPI for fuel and power index down 3.7% (WoW)
>Manufacturing Index Down 0.3% (WoW)
>Naphtha prices fall 23% (WoW)
>Primary articles down 0.4% (WoW)
>Petrol prices down 10%, diesel down 6% (WoW)
>Furnace oil down 15%, aviation turbine fuel or ATF prices down 7% (WoW)

ICICI Bank Cuts Interest Rate on Home Loan

So After RBI news on cut in Lending rate to banks i ment the Repo Rate , Banks came out with news on lending rate cut , Im not sure if ICIC bank has done any Cuts before this but now thay have announced that ICICI Bank has cut interest rates on new home loan below Rs 20 lakh by 1.5% to 11.5%.

Reserve Bank of India Cuts Repo Rate and Reverse Repo Rate

Reserve Bank of India Cuts Repo Rate and Reverse Repo Rate , RBI cuts repo rate by 100 basis points to 6.5 percent and cuts reverse repo rate by 100 basis points to 5 percent and there is no change this time to CRR, SLR. The rate cut to Repo and Reverse Repo Rate will come into effect from December 8.
What is Repo Rate ?

Repo rate is the rate at which the banks can borrow money from a central bank of the country in order to avoid scarcity of funds.For eg, whenever the banks have any shortage of funds they can borrow it from Reserve Bank of India (RBI).

So RBI is sending signals to Banks to have the lending rate to public cut down .We will soon see a lot of banks announcing more lending rate cut .

Indo Asian Fusegear bags order worth Rs 23 crore; Stock up 7%

Indo Asian Fusegear Ltd informed the market today that they have received order worth 23 crore which is a export order from west Africa, the order is for distribution of electrical distribution equipments used in the distribution of power.This is one of the big order they have got as export order.The stock closed the day at 81.10 rs going high by more than 7.Noida-headquartered Indo Asian Fusegear Limited (IAFL) has informed that the company has secured an order worth Rs 23 crore for the export of electrical distribution equipments, used in the distribution of power from West Africa.

Indo Asian Fusegear, Ltd. engages in the manufacture and marketing of electrical products in India The company also exports its products to European countries, as well as to neighboring countries, such as Nepal and Sri Lanka.

The company shares touched a high of Rs 82 on the BSE after the news. It ended the day at Rs 81, up Rs 5.40 or 7% over the previous close.

Resurgere Mines Minerals IPO gives 94 percent return

Resurgere Mines & Minerals IPO which opened for listing today gave 94 percent return who is giving this much return in a market like this god no one would have predicted this much return in this market , Those who have got this alloted im sure would have come out at 300 rs itself , this stock opened in bse at Rs 272 on bse and went up to Rs 562.80 before closing the day at Rs 524.35 which finally gave a return of 92 percent.
Some Details on the IPO
They raised Rs 120 crore through its 44.5 lakh share initial public offer (IPO) with a price band of 263 to Rs 272 a share. The ipo was finally subscribed by mere 1.16 times. Issue price was fixed at 270 rs finally and the IPO was open between August 11th to 13th .
Financial
Financially the company is doing ok but not to the extent of 100 percent spurt in IPO price , but note this it will come soon below par im thinking .They reported a 110.4 percent hike in net profit to Rs 66.56 crore on 154.80% surge in net sales to Rs 418.57 crore in the year ended March 2008 over the year ended March 2007.