ET finally let the cat out of the bag but a bit late as the Bank nifty short was paired to the indices in a copycat move of a trade that worked in the 4700-5300 down India jamboree of 2010 then 2011 and then 2012 as well. Anyway it is afternoon as most of my readers realise my busy ness in th emorning with struggles for food and hearth taking over the life and times of accomplished investing advice and career counseling for the world of investment banking. Ph. D seats in India are few as well and a preeminent shortage of goods could well price that education much higher than it is today, the doctors 9 though i m yet to get in) still on the periphery of business and academia preferring stolid credentials to maintain ranks and bag enough fees to supplemennt honored careers in banking and finance (most of them)
Anyway here’s wishing them better luck for the pair trade next time and here’s wishing you use the contact form below to discuss and disect India, Finance, and anything else you think makes sense
No break from trading this week as another broking NBFC tops $400 mln in quarterly revenues following IIFL efforts yesterday and with broking revenues not dipping in one of the most inactive lulls of equity trading in recent times.
Dr Reddy’s results look nippier solely on last year’s poor Q4 but revenues rose nearly 30% at INR 33.4 Bln , annual results topping 20% on Sales and still 18% on profits across at least 2 bad quarters out of 4 reported. Generics accounted for INR 82 Bln out of 111bln in Sales. GVK power results this afternoon were wierdly out of whack with some tussle forming with APTRANSCO while GMR seems to be progressing along expected lines on cutting debt.
Nothing of note from Novartis or Pfizer yesterday Given the wierd secrecy arround mnc accounts one cannot immediately comment on 90% of their profits (Novartis) being from other income and being (un)affected by transfer pricing
Anyway the wind out of shorts jumped Wednesday indices to 6150 and markets are trading a t their highest level since 2011 while the rupee from trades on Monday continues to stay around 54.80 and expiry is going to be easy for long traders in options , shorting options now key to an ever changing vocabulary for our middle tof the tail at BPOs earning seven figure salaries or hoping to make some disposable spreads through trading, hear hear..( Three fat tail events discussed in here, find them and write to me for a mid week mania contest entry, your favorite candy ata favorite coffee place for prizes)
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