BSE in process of completing IPO formalities

(Disclosure:I am market making in the shares of BSE)

Leading stock exchange BSE today said it is in the process of completing formalities for its initial public offering (IPO).

“BSE is specifically in the process of completing all the formalities. As and when the approval will be obtained, the IPO will come,” BSE Managing director and CEO Ashishkumar Chauhan said at an Assocham event here.

Chauhan, however, did not divulge the details of the issue, saying the investment bankers will decide on the pricing and issue size.

According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore. The IPO could fetch Rs 800-1,000 crore, they added.-from ET

RBL Bank to become principal sponsor for Delhi Daredevils

(Disclosure:I am market making in RBL Bank)

RBL Bank,earlier known as Ratnakar Bank, on Thursday said it had signed an agreement to become the principal sponsorand banking partner for Indian Premier League (IPL) teamDelhi Daredevils. As part of this association, the RBL Bank brand will now be seen on the Delhi Daredevils’ jerseys.

“I am personally excited with this association… This opportunity  gives us a fantastic platform to present our new bank brand to the audience. The Delhi team was a natural fit because of our growing presence in the NCR (national capital region),” Vishwavir Ahuja, managing director and chief executive officer, RBL Bank, said in a statement.

The bank and the cricket team plan to do various activities through and after the tournament to leverage this partnership. Some of the initiatives involving cricket fans have been planned by both the partners and will be announced soon.

The seventh edition of IPL started on Wednesday in Abu Dhabi, United Arab Emirates, and will return to India on May 2.

“The new management at the bank is a high energy team, and we feel the great synergies with the Daredevils are bound to take this partnership far. The bank is one of India’s fastest growing, which perfectly complements the fast pace of T20cricket,” Hemant Dua, chief executive officer of Delhi Daredevils, said.

GMR Sports, Delhi Daredevils’ franchise owners, is backed by the GMR Group.-from BS


A taciturn man in a black SUV

A taciturn man in a black SUV started buying up tracts of arid agricultural land around this small town in the western Indian state of Rajasthan in 2009.

He would sit in the parking lot outside the one-story concrete building that houses the land office and dole out cash for sellers from the back seat, according to real-estate brokers and a local government land official.

The buyer represented by the man in the SUV, according to state land records, was Robert Vadra, a member of India’s powerful Nehru-Gandhi political clan, whose Congress party leads the country today and has for much of its more-than-66-year post-colonial history.

Soon after he began buying, the federal government announced plans to promote large-scale solar-energy production, a land-intensive project for which the area was well-suited. He continued buying land, and in 2011 the state, too, announced solar incentives. The value of the land Mr. Vadra bought soared sixfold within three years, a state record of land transactions shows.-from WSJ

True Confidence in Trading

When people wax poetic about their conviction in trades, my emotional reaction is:  Whatever.  A trade is a bet at the poker table.  Some bets will work, some won’t; some you’ll size up, some you’ll fold.  Whatever.  Over time, if you play the odds, you’ll do OK.  Beyond that, it doesn’t make a lot of sense to beat the chest and invite overconfidence bias to replace normal confidence.

Every forecast of a statistical model can be wrong.  Every trading judgment is fallible.  If you have a 50% hit rate on your trades and you trade once a day, on average you’re going to have an occasion in which you lose every day for a week during a trading year.  That doesn’t mean you’re in a slump; it doesn’t mean you should change what you do.  It’s going to happen and you can mentally prepare yourself–and size yourself in such a way that five consecutive losing days won’t take you out of the game.

The goal is not to eliminate losses–that would require omniscience.  Rather, the goal is to  anticipate losses so that you’re never surprised, never overwhelmed, never thrown onto the back foot.  True confidence comes, not from believing that you must be right, but from knowing that you can survive and even thrive if you’re dead wrong.-from TraderFeed