Linkfest:May 10, 2012

Some stuff I am reading today morning:

Sharad Pawar has a stake in IRB Infra ? (FirstPost)

India tax rules still baffle investors (WSJ)

Ranbaxy on recovery path (Mint)

Problems of being a Bangalore flat owner (SuchetaDalal)

Investing in SIP for last 5 years would have yielded 5.2% (CapitalMind)

India needs course correction to lure foreign investment (Bloomberg)

Spain is becoming the new Greece (GlobeandMail)


Spain’s stock market closes at 9 year low

Spain’s stock market closes at 9 year low, worth less than it was in 1997 (more here)


Where is the bhav copy?

Its already 9:30 pm and NSE has yet to post today’s bhav copy on their website.

Maybe they feel ignorance is bliss !!


My family in the news

This last month has seen my family come in the news and get our 15 seconds of fame.

First, my parents were covered extensively in the Kannada newspapers and Indian Express (Mangalore Edition) for their organizing of the Nagamandala Utsava.It was a grand success where more than 20000 people were fed and the ceremonies were televised live by local channels.

Now, my wife Ruma has come in a Bloomberg news story about working women in India


Mercator Promoters chicken out

Mercator Ltd in its Extraordinary General Meeting (EGM) held on Oct 28, 2010 issued 1.88 Crore warrants to its promoters and persons acting in concert.Each warrant gave the holder the right to convert it into one share of Mercator Ltd by May 08, 2012

The warrants were priced at Rs.55 per warrant.This, despite the fact, that the prevailing price of Mercator then was around Rs.67 per share.This made the warrants in the money from Day 1 and caused corporate governance misgivings.

Since then, Mercator stock has crashed to around Rs.20.25 per share.Not surprisingly, the promoters have chickened out and have not exercised their option to convert the warrants to shares .As a result, their application money (around 23 Crores) has been forfeited.

The Gods surely have a good sense of humor.