WORLD MARKETS ARE BIT NEGATIVE AS OIL TOUCHED ALL TIME HIGH AND THEN REBOUND BACK $133(APROX) AFTER SAUDIARABIA COMMIT TO BOOST THE SUPPLY,$vsINR HOVERING AROUND 42.95,GOOD FOR IT AND PHARMA STOCK.
NIFTY LEVEL TO BE WATCH OUT TODAY IS 4530-4580-4630 IF SUSTAIN ABOVE 4530 GO LONG WITH SL OF 4500 AND IF MARKET DOES NOT HOLD 4580 GO SHORT WITH SL OF 4600.
IT SECTOR
WIPRO,SASKEN,NIITTECH, GSSAMERICA
PHARMA
DRREDDY, CADILA, SUNPHARMA
MINING
PLAY WITH STRICT SL.
TOTAL O I IS 81 K CR JUNE SERISE IS 72 K CR AND JULY IS 21 K CR.
PUT CALL RATIO IS 1.60 MAINTAINING ALMOST SAME LEVEL.
HAVE A NICE TRADING DAY
-MR SAM
Tuesday, June 17, 2008
Kotak Launches Sensex ETF
Kotak Mutual is launching Kotak Sensex ETF on May 7, 2008. This exchange traded fund will track BSE Sensitive Index (Sensex) to provide returns before expenses that closely correspond to the total returns of the BSE Sensex. The fund is open for subscription from May 07, 2008 till May 16, 2008. The units would be listed on BSE to provide liquidity through secondary market.
This will be the second ETF on Sensex. The first ETF on Sensex was launched in January 2003 -- ICICI Pru Spice which has closely tracked Sensex and delivered returns as much as the Sensex in the past 5-years but currently has less than Rs 1 crore assets under management.ETF is an Index fund but they trade on the market like stocks. Kotak Sensex ETF will facilitate exposure to Sensex with a single order. It will also enable trading flexibility by Intra day buying and selling just like any other listed share. The pricing will also be almost live as the intraday indicative price is likely to be closely linked to Sensex.Index funds have lower cost as they charge lower management fee compared to actively managed funds. Investors will have to pay brokerage in buying and selling these instead of any entry/exit load.Other Details:
Each unit of the Kotak Sensex ETF will be approximately equal to 1/100th of the value of BSE
SENSEX
Entry Load during NFO: For investments < investments =" "> Rs 1 Crore Nil
No entry load shall be charged on “all direct” applications received by AMC i.e., on application forms that are not routed through any distributor / agent / broker and submitted to AMC office or collection centre / investment service centre.
Entry Load during continuous offer : Nil
Exit Load Nil
This will be the second ETF on Sensex. The first ETF on Sensex was launched in January 2003 -- ICICI Pru Spice which has closely tracked Sensex and delivered returns as much as the Sensex in the past 5-years but currently has less than Rs 1 crore assets under management.ETF is an Index fund but they trade on the market like stocks. Kotak Sensex ETF will facilitate exposure to Sensex with a single order. It will also enable trading flexibility by Intra day buying and selling just like any other listed share. The pricing will also be almost live as the intraday indicative price is likely to be closely linked to Sensex.Index funds have lower cost as they charge lower management fee compared to actively managed funds. Investors will have to pay brokerage in buying and selling these instead of any entry/exit load.Other Details:
Each unit of the Kotak Sensex ETF will be approximately equal to 1/100th of the value of BSE
SENSEX
Entry Load during NFO: For investments < investments =" "> Rs 1 Crore Nil
No entry load shall be charged on “all direct” applications received by AMC i.e., on application forms that are not routed through any distributor / agent / broker and submitted to AMC office or collection centre / investment service centre.
Entry Load during continuous offer : Nil
Exit Load Nil
Ranbaxy dismisses reports of Pfizer's bid for stake
Ranbaxy Labs, which last week announced sale of its promoters' 34.8 per cent stake to Japan's Daiichi Sankyo for nearly Rs 10,000 crore, dismissed rumours that Pfizer might bid for 65 per cent stake which is not owned by the promoting family as "very speculative". Leading business newspaper Financial Times quoted Ranbaxy promoter and CEO and Malvinder Mohan Singh as saying that he had not been in talks with the world's largest drugmaker. The daily also said that Singh dismissed rumours that Pfizer might bid for the 65 per cent stake in Ranbaxy not owned by the family as "very speculative". In one of the the largest sell-outs in India's private sector, promoters of Ranbaxy, the country's largest drugmaker, announced selling their entire 34.8 per cent stake in the firm to Japan's Daiichi Sankyo for Rs 10,000 crore. The decision to sell was "emotional," Singh has said. "But you cannot hold a company from future advancement because your shareholding will come down." "If someone else can create more value and do things better, you should be open to exploring those options," Singh is quoted as saying in the daily. Explaining why he sold his family's crown jewel, Singh has said, "It takes Ranbaxy to a whole different level and there is huge merit in bringing big pharma and generics together. Joining forces with Daiichi strengthens Ranbaxy's fledging and expensive efforts to develop original drugs rather than just copying existing ones."
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