Archive for October, 2012
Tata Motors shares gain 1.4 percent after Goldman Sachs says the auto maker’s market cap has potential to reach USD 30 billion by fiscal 2017, from current value of USD 13.8 billion, and to nearly double its cash flow during these four years.
To get there, Goldman says Tata’s Jaguar Land Rover unit would need to move to a new platform for its existing models such as Range Rover and Discovery with a light weight aluminium architecture, thus improving key factors such as fuel efficiency or pricing.
JLR would also need to make inroads into smaller engine and lower priced vehicles, as well as enter more premium segments, Goldman argues.
However, challenges include getting consumers to buy into the brand, tightening regulations in key markets such as Europe, and overcoming macro economic uncertainties such as FX volatility.
Goldman Sachs maintains Tata Motors at ‘buy’, with a target price at Rs 334.
Eastman Kodak Co on Tuesday said its third-quarter loss grew 41 percent from a year earlier, reflecting restructuring and other costs as the bankrupt camera pioneer shifts its business focus toward printing from photography.
The net loss widened to USD 312 million, or USD 1.15 per share, from USD 222 million, or 83 cents, a year earlier, Kodak said in a regulatory filing.
Revenue fell 19 percent to USD 1.02 billion, hurt by a weakened economy, currency fluctuations, and the decision to exit some businesses, Kodak said.
Excluding restructuring and reorganization costs, Kodak said it lost USD 139 million in the quarter, compared with roughly USD 205 million a year earlier, and ended September with USD 1.13 billion of cash.
The Rochester, New York-based company has been in talks with creditors on a possible reorganization plan that Chief Executive Antonio Perez hopes will enable it to emerge from Chapter 11 protection next year.
Kodak has shuttered its digital camera business and plans to stop selling inkjet printers. It is still exploring options to sell more than 1,100 digital patents after failing to win acceptable bids in an auction held in August.
The company filed for bankruptcy protection on January 19 after failing to keep up as consumers and rivals shifted to digital photography from film photography. High pension costs have also weighed on Kodak.
The case is In re: Eastman Kodak Co, US Bankruptcy Court, Southern District of New York, No. 12-10202.
Major US stock exchanges expect to reopen on Wednesday after Sandy, the worst storm to hit New York in nearly 75 years, closed trading for two days.
NYSE Euronext said the New York Stock Exchange would open as usual, although it was prepared to switch to fully electronic trading if necessary. Nasdaq OMX’s Nasdaq Stock Market was also to be operating on Wednesday, as were BATS and Direct Edge Exchanges.
“We have a green light,” the chief operating officer of NYSE Euronext, Larry Leibowitz, said in an interview.
All of the US stock market operators took part in coordinated testing on Tuesday for trading on NYSE’s backup system, should it need to be used. The exercise was also aimed at allowing member trading firms, many of which are operating on backup systems themselves due to complications from the storm, an opportunity to make sure they are ready for Wednesday.
At least 30 people were killed and millions have been left without power after Sandy slammed into the East Coast on Monday. The storm shut down most businesses in Manhattan and caused a rare flooding of the subway tunnels, which is expected to keep the system closed for several days.
US exchanges originally had planned to open markets on Monday, but they eventually responded to pressure from firms worried about employee safety, as well as the inability to see markets function effectively at light staffing. It was the first time in 27 years that exchanges closed because of bad weather.
Banks, brokers and others conferred for hours on Tuesday about the feasibility of resuming trade. The storm was expected to result in tens of millions of dollars a day in lost revenue for exchanges and banks, analysts said.
After two days of closure that occurred during the busy corporate earnings season and at the end of the fiscal year for certain funds, trading is likely to be volatile.
“At least in the early trade I expect an overreaction regardless of the direction. I expect to see a lot of volume at least in the first hour,” said Art Hogan, managing director of Lazard Capital Markets in New York.
The NYSE, which accounts for about a quarter of US stock market trading volume, tested the possibility of routing trades through its electronic platform, Leibowitz said. Under normal conditions it handles about half its volume through its trading floor at 11 Wall Street, where traders and specialists buy and sell stocks in person.
NIFTY FUTURE closed 5628
There is no Magic & Miracle
Past many days & Yesterday also we had wrote 5675 below FREE FALL
What happened ???
After RBI Policy freshly broken 5675 and slide upto 5619
We gave alert to our clients @ 5680 level.....
Our Intraday target Exact 5620
Booked Profit 55 Points.....
Yesterday Our hurdle & Crucial level 5675 broken
Today's Nifty Future facing support @ 5620, Once if break & trade below the level
Will check 5590 & 5570 level........
Today's Resistance 5640 & 5675
Every rise sell sell sell sell
More Live Market update to our clients only
Updated : 08.45am / 31st Oct
Banknifty future : 11280
Yesterday we had wrote below 11480 Free Fall on the card !!!
After stays below the level….. slide upto 11252 level.
Today’s support 11250 if trade below the level
Can check 11180 & 11140 level……..
Higher level selling pressure will be expected !!!
Today’s Resistance 11330 & 11400 level……..
More to our clients only
Updated : 08.28am / 31st Oct
Today’s Another HOT CALL CIPLA
CIPLA support @ 353 once if break the level
Can slide upto 348, 345 level
Sell if trade below the level !!!
Yesterday updated same level but not break the level
RANBAXY trades strong support level
Support @ 517, Once if break the level
Down fall upto 513, 510…….
SBIN every Rise sell sell sell
Support broken, Today’s minor support 2060
If fail to take support 2040, 2025 & 2000 will test
We are bearish below 2180
Another Pharma Stock !!!
SUNPHARMA Ready to Fall…….
Levels to our clients only !!!!
Are you want to Earn Money in Market ???
Don’t wait Join us & Enjoy !!
08.20am / 31st Oct