Source: Bloomberg
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Chart:India Monsoon strongest in years
Source: Bloomberg
There was an article in Bloomberg yesterday where Alpha Ideas found a mention
BSE Ltd., Asia’s oldest stock exchange, is seeking shareholder approval to sell as much as a 30 percent stake.
The bourse plans to sell a minimum of 10 percent, with an option to raise the size to 30 percent if more shareholders are keen to sell their holdings, according to a notice from the company. The exchange is closely held by member brokers and overseas firms including Deutsche Boerse AG and Singapore Exchange Ltd.
The BSE could offer the shares at 500 rupees apiece, valuing itself at about 54 billion rupees ($800 million), said Nitin Rao, founder of AlphaIdeas, a market-maker for the exchange’s stock. The company is expected to go public by January 2017, he said. The Multi Commodity Exchange of India Ltd., the only listed Indian exchange, is valued at 49 billion rupees.
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Linkfest:June 02,2016
Some stuff I am reading today morning:
Only Rajan can replace Rajan as RBI Gov (ET)
The illusion of bank capital (Rajwade)
Key takeouts from India’s GDP numbers (Jaggi)
Ajit Issac’s strategy for Quess (Forbes)
How the world’s largest oil trader makes Billions (Bloomberg)
Does Golden Cross work? (Prashanth)
Investment Fatwas for doctors (Subramoney)
The existing trend is not irreversible (TRB)
Vacation money is Crazy money (Financial Samurai)
Paranoia and Personal Finances (NYTimes)
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Linkfest: June 01,2016
Some stuff I am reading today morning:
Stay away from Indian Indexes (Bloomberg)
How we revised our way to 7.9% GDP growth (Capital Mind)
15% Service Tax from today (Scroll)
The undoing of Helion Venture Partners (Mint)
A look at textile stocks (RJ)
Interview with Saurabh Mukherjea (ET)
Research Report: Mahindra & Mahindra (Motilal Oswal)
Why you should choose a financial advisor (Bala)
Gold is headed to $4500 (DR)
Financial engineering is replacing real engineering (Satyajit Das)
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What I heard & saw at the L&T Infotech AGM
(Disclosure:I am market making in the shares of L&T Infotech)
I attended the 20th L&T Infotech AGM today .
This was the first AGM where external shareholders were invited and was glad to be present as history got created !!
Here is what I heard and saw:
- There were only 32 external shareholders.Most of them were L&T Infotech employees who came by the company bus !
- Chairman Naik walked in like a rockstar accompanied by 3-4 bouncers.
- The meeting started with everyone rising up to stand to the anthem.Only the anthem being played was not the National Anthem,but L&T anthem !
- The following resolutions were proposed and seconded:
- Adoption of Accounts
- Approval of Dividend of 2.6 Rs/share
- Re-appointment of A M Naik as Director
- Re-appointment of M/s Sharp & Tannan as Auditors
- Re-appointment of Sanjay Jalona as Director
- Re-appointment of R S Raman as Director
- Re-appointment as Arjun Gupta as Director
- Payment of Commission to Non-Executive Directors an amount not exceeding 1% of net profits of the Company
As expected,the AGM quickly got over.