Capitalmind
Capitalmind
Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial
General

On Slack: The low profile Professor, UBS from LIBOR to Gold Rigging Scandal, Suzlon is back , Mukesh-Anil bhai bhai and More….

CapM Premium Header

The Slack Discussions

The Slack group at Capital Mind Premium has been extremely active and if you haven’t been there, pop us a note by replying to this email. (If you’re a trial member this probably sound like Greek to you; it will be available when you sign up!)

A brief summary of some of the interesting things discussed there in the last few days:

#general: Iran Plans to Increase Oil Export by 500,000 Barrels per Day by December

Iran expects to increase its oil exports by 500,000 barrels a day by the end of November or early December with deliveries to Asian countries, the head of the National Iranian Oil Company said. Iranian oil imports to Asian countries, such as China and South Korea, which had expressed their interest in the Iranian oil supplies, will begin sooner than to the Western, Ali Kardor was cited by The Wall Street Journal.

http://sputniknews.com/business/20150924/1027495325.html#ixzz3n0kCynFR

#general: We’re ordinary people, says family of Prof with `1,000-crore shares

Shivanand Shankar Mankekar, one of the largest retail share-holders in USL, keeps a low profile despite his stock gains; he teaches at Management College.

Dressed in a simple green T-shirt and trousers, Shivanand Shankar Mankekar barely looks like the high-profile stock investor he is. For a man whose shareholding and other assets have been valued at Rs 1,000 crore, he drives a hatchback preferred by middle-class families.

http://www.mumbaimirror.com/mumbai/others/Were-ordinary-people-says-family-of-prof-with-1000-crore-shares/articleshow/33924615.cms

Prof_shivanand_mankekar-150x1501

#general: Volkswagen scandal costs Qatar’s sovereign wealth fund £3.3bn

The collapse in Volkswagen’s share price as a result of the widening emissions scandal has cost Qatar’s sovereign wealth fund more than £3.3bn, according to calculations seen by The Telegraph.

Qatar Holdings – a subsidiary of the Qatar Investment Authority (QIA) – is the third largest shareholder in the German car manufacturer, with a 17pc stake, after Porsche and the German state of Lower Saxony.

http://www.telegraph.co.uk/motoring/car-manufacturers/volkswagen/11893484/Volkswagen-scandal-costs-Qatars-sovereign-wealth-fund-3.3bn.html

#general: UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

Swiss competition watchdog just became the latest to enjoin the ongoing gold manipulation probe when as Reuters reported, it launched an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of probes into gold, silver, platinum and palladium pricing.

http://www.zerohedge.com/news/2015-09-28/ubs-about-blow-cover-massive-gold-price-rigging-scandal

Gold Rigging

#general: Nippon Life in talks to raise stake in Reliance Life, MF to 49%: Anil Ambani

Bullish on growth prospects of his group’s financial services businesses, industrialist Anil Ambani today said Japanese major Nippon Life is in an advanced stage of talks to hike stake in Reliance Life Insurance and Reliance Mutual Fund units within this financial year.

In Reliance Life, Nippon plans to hike the stake from 26 per cent to 49 per cent, while it would increase its holding in Reliance Capital Asset Management Company from 35 per cent to 49 per cent.

http://www.thehindubusinessline.com/money-and-banking/nippon-life-in-talks-to-raise-stake-in-reliance-life-mf-to-49-anil-ambani/article7705679.ece

#stocks: Bhushan Steel’s Dubious Restructuring

In August 2014, Bhushan Steel hit the headlines when the Central Bureau of Investigation (CBI) arrested its vice-chairman, Neeraj Singhal, on charges of bribing SK Jain, chairman of Syndicate Bank, in a bribe-for-loan scandal. We are not sure what happened to the CBI investigation; but once the accused was out on bail in October 2014, it was back to business as usual for Bhushan Steel, in less than a year. This was despite reporting bigger losses for seven straight quarters and a crash in its stock price from around Rs400 (August 2014) to Rs43.70 (23 September 2015).

https://www.moneylife.in/article/bhushan-steels-dubious-restructuring/43475.html?utm_source=PoweRelayEDM&utm_medium=Email&utm_content=Subscriber%237024&utm_campaign=Daily%20Newsletter%2030%20Sept.%202015

#general: Make in India: L&T outguns global rivals to bag Rs 5,000-crore Indian Army deal

India is finally set to get its own mobile howitzers that will reverse the longheld Pakistani battlefield edge on artillery guns.

The guns Pakistan have were supplied by the US ostensibly for the ‘war on terror’. In a deal that would also fit the ‘Make in India’ mandate, domestic manufacturer Larsen and ToubroBSE 0.84 % has emerged as the finalist for a $750-million (about Rs 5,000 crore) contract to supply 100 self-propelled artillery guns to the Indian Army.

http://economictimes.indiatimes.com/articleshow/49160133.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

#general: Bandra-Kurla office space goes for Rs1,479 crore in largest deal ever

Pharmaceutical firm Abbott India Ltd on Wednesday bought 435,000 square feet area at Godrej BKC in Mumbai’s Bandra-Kurla Complex for Rs.1,479 crore from its developer Godrej Properties Ltd to set up a corporate office.

Godrej Properties informed BSE it has closed India’s largest commercial real estate deal with a single user for Rs.1,479 crore but did not reveal the name of the buyer.

http://www.livemint.com/Companies/tXlODObAIRWZxlRga8pmYL/Godrej-Properties-sells-435000-sq-ft-BKC-office-space-for.html

Gidrej BKC

#macronomics: August infrastructure growth inches up to 2.6%

India’s infrastructure sector grew by 2.6 per cent in August as a sharp decline in steel output offset robust growth in other sectors, government data showed indicating that overall industrial growth could remain sluggish.

The eight core industries growth inched up in August from 1.1 per cent in July but remained significantly lower than 5.9 per cent a year ago.

http://www.btvin.com/article/read/banner_story/2845/august-infrastructure-growth-inches-up-to-2-6-

#stocks: Infosys hits record high, becomes third most valuable company

India’s second-largest information technology (IT) company toppled the private banking major HDFC Bank as the country’s third most valued company with its market capitalisation of Rs 2.71 lakh crore, driven by a spurt in share price.

http://www.business-standard.com/article/markets/infosys-hits-record-high-becomes-third-most-valuable-company-115100100393_1.html

#general: Torrent wins patent battle against Novartis’ $2.5 billion drug Gilenya in US

Global pharmaceutical major Novartis AG and Mitsubishi Pharma Corporation have lost a patent fight with Ahmedabad-based Torrent Pharmaceuticals in the US over Novartis’ block buster multiple sclerosis drug Gilenya.

http://www.businesstoday.in/sectors/pharma/torrent-wins-patent-battle-against-novartis-usd-2.5-billion-drug-gilenya-in-us/story/224308.html

#general: Dinshaw’s Dairy plans to raise $100 million from PE funds

Dinshaw’s Dairy Foods Ltd, a leading milk and dairy products manufacturer with a pan-India presence, plans to raise $100-120 million in private equity capital, said two persons familiar with the development.

The Nagpur-based company plans to dilute about 25-30% equity, said the first person quoted above, adding that the company is in the process of appointing an investment banker and is in discussions with Moelis & Co. for the mandate.

http://www.livemint.com/Companies/hjKuKrUJlZd2mQsDmsJdNN/Dinshaws-Dairy-plans-to-raise-100-million-from-PE-funds.html

#general: Suzlon’s rise from the ashes

The resurrection of what was once one of the world’s largest wind turbine manufacturers has all the elements of a blockbuster, including a promoter determined to redeem himself, and a deep-pocketed knight in shining armour.

http://forbesindia.com/article/boardroom/suzlons-rise-from-the-ashes/41139/0

Suzlon

#general: The RJio-RCom equation: Why Mukesh needs Anil more than Anil needs Mukesh

This December, the Indian telecom scene will undergo a sea change with Reliance Jio’s much-awaited 4G launch. RJio has been gobbling up spectrum for the 4G services since 2010. In fact, even after over five years of acquiring the first tranche of spectrum – 20 MHz each in 22 circles – the company is sitting on it without making a single penny. (The total tenure of licence is 20 years).

http://www.businesstoday.in/opinion/perspective/the-rjio-rcom-equation-reliance-mukesh-ambani-needs-anil-ambani/story/224331.html

Ambanis

divider

Disclaimer

Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion. 

Disclosure: The authors at Capital Mind have positions in the market and some of them may support or contradict the material given above, or may involve a direction derived from independent analysis.

 

Next Gen Financial Analytics