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Market Outlook - 15 March 2010

2010-03-13T02:06:00.000-08:00

Nifty option statistics continue to suggest upward momentum for the index. The March Nifty put options of strike prices of 5000, 5100 and 5200 have added large quantity of Open Interest. The most active Nifty call option is now the one at 5300 strike. Short-sellers have covered 5100 and 5200 call options in a big way. This, by itself, raises a possibility of a probable test of the resistance zone.

On the way up, the level of 5157 and 5181 would give strong resistance; support exists between 5105 and 5089.

BSE Sensex: (17168) the crucial support on the Sensex on the downside is 17000 and resistance at 17272

Our market witnessed one of the most frantic short-covering rallies in recent memory. The Nifty jumped from 5112 to 5152 only to settle down at 5133.40. The Nifty PCR has moved up from 1.39 to 1.50-a big jump in a day’s time, by any reckoning, to be sure.

Result Analysis : YES BANK

2008-04-15T10:37:00.000-07:00

The private sector bank has posted extremely robust results for the year ended 31st March 2008 and this has led to expectations now build up around the other private sector banks. And the best part about the results is that it helped pull up the bank stocks on the BSE. Banking stocks which had been mercilessly hammered down over the past few days, were suddenly on every investors buying list and yesterday, almost all the frontline private sector bank stocks figured out in the top gainers of the day. The entire banking index was up by over 3%. If nothing else, we owe it to Yes Bank in helping push away the pall of gloom which was cast all over the bank stocks, in the wake of the “exotic” forex derivative investments!

YoY, for the year ended 31/03/08, the total income earned rose by a whopping 2.13 times to Rs 1665.35 crore. Interest income surged 2.23 times to Rs.1,310.82 crore. And despite the interest expended going up by 2.34 times to Rs.974.11 crore and total expenditure increasing 2.16 times to Rs.1315.27 crore, on the back of the huge revenues earned, the bank managed to more than double its PBT at Rs.350.08 crore.The Bank had a huge tax outgo, it was up 3.7 times at Rs.106.46 crore and yet, its PAT rose by a stunning 2.12 times at Rs.200.02 crore. Its capital adequacy ratio stands at 13.64%. Regarding its exposure to the forex derivatives market, the bank has clarified that it has no uncovered exposure and has a highly valuable treasury customer base which is consistently meeting all its maturing financial obligations. Of the total derivatives exposure of the bank, 70% exposure is to large clients, 30% to medium sized corporates , spread over 53 clients. The management has also clarified that based on the internal scoring method of the bank, all the clients in the derivatives segment are either A rated or above.

It is also pertinent to note that FIIs have a 46.92% stake in the bank in which Rabobank International BV. Given the fast approaching deadline of 1st April 2009, Yes Bank is clearly one of the hot favourites of the foreign banks.

At the current rate of Rs.167, it surely makes a very good buy for some good long term gains.

Result Analysis GTL LTD

2008-04-15T10:29:00.002-07:00

GTL LTD. is now focusing more on exports. The network services provider has given good results for the year ended 31st March 2008. Its consolidated revenue from global operations was Rs.1,771.34 crore for
FY2007-08 as against Rs. 1,156.28 crore for FY2006-07, recording a growth of 53%. Its net profit for FY08 was Rs.154.15 crore as against Rs.100.34 crore for FY07, recording a growth of 54%. EBIDTA for FY08 was Rs. 264.86 crore as against Rs.143.88 crore in FY07, recording a growth of 84%.

The total manpower of the Company stood at 5,045 as on March 31, 2008, as against 3,390 in the corresponding period ended March 31, 2007. The increase in the manpower was on account of acquisitions made during the financial year and increase in scale of operations.

Its Q4 results were not as good, with consolidated revenue growing 1.70% YoY, EBIDTA rising 27% and net profit growth was very good, up by 72%. 20% of the company’s revenues in FY08 came from exports and it aims at making it 50% by 2010.

In March the company has joined its hands with Vanu Inc, software radio innovator for the wireless infrastructure industry. In February, the company also notched up another alliance with Ericsson of UK.

The promoters of the company have been shoring up their equity stake and acquired 4.95% shares during FY08,and despite this, the stake continues to stand lower at 39.31%. Apart from acquiring their own shares, during the last fiscal the company also acquired three new companies - mobile telecom industry service provider Genesis Consultancy in the UK, wireless engineering firm ADA Cellworks Llc. in Malaysia and network deployment company Strategic Communication Services Llc in the US.

For this fiscal, the company is also on the lookout for some more new acquisitions this fiscal, for which it has earmarked Rs1,000 crore, including Rs628 crore through external commercial borrowings.

Result

2008-04-15T10:29:00.001-07:00

Infy numbers in line with mkt expectations: Edelweiss

2008-04-15T09:55:00.000-07:00

Abhijit Chakraborthy, Institutional Equity – Sales at Edelweiss has a view that Infosys’ numbers have been mostly inline and guidance is also broadly what the market was estimating. Having said that, in the immediate quarter and next quarter, there is not going to be much growth in terms of revenue and bottomline, he says.

Excerpts from the exclusive interview with Abhijit Chakraborthy:

Q: What’s the call on technology now and Infosys in specific?

A: Infosys’ numbers per se have been mostly inline and guidance is also broadly what the market was estimating. Having said that, in the immediate quarter and next quarter, there is not going to be much growth in terms of revenue and bottomline. Hence I feel the stock is fairly priced given the one year perspective.

Read full story at :

http://moneycontrol.com/india/news/market-outlook/infy-noslinemkt-expectations-edelweiss/22/20/334278

DAILY MARKET OUTLOOK 15 APRIL 2007

2008-04-15T09:43:00.002-07:00

Market Direction will be determined today by the Infosys Guidance.
If it manages to guide above Rs 92 per share, then the Infosys along with other IT shares will stage a rally.

Sensex Resistance at 15957-16063-16107-16259.
Support at 15691-15655-15587-15464.

Nifty Resistance at 4816-4855-4917. Support at 4749-4727-4696

Nifty manages to close in the green today, then expect Nifty target of 4910-4916...

So cheer up.................. and i think that it will head towards north from

Recommendation CEAT

2008-03-25T10:36:00.000-07:00

CEAT basically deals in a wide range of tyres for all user segments. Recently CEAT has
sold 6.92 acres of the 31-acre land (Bhandup plant) for Rs
130 crore. Money from the sale will be utilized to set up a new facilty.
In the next 24-30 months, the company intends to
shift capacity from Bhandup to a new facility at Ambernath.
The remaining 24 acres will be sold once the relocation is
completed. CEAT plans to increase capacity by 40 tonnes per day (TPD) at
the new facility from the current capacity of 240 TPD at the
Bhandup plant. It also plans to set up a radial tyre facility at a cost
of Rs 500 crore over the next three years. The new facility at
Ambernath will take 30 months to complete. Further, CEAT is
also in the midst of finalizing the location for its radial plant. In
the interim, it intends to increase volumes through outsourcing.

SHARE TIPS ANG AUTO

2008-03-25T10:32:00.000-07:00

In market there is a rumour about ANG AUTO(BSE CODE 530721) upward movement.

FAST Movers-BSE

2008-03-21T09:04:00.000-07:00

Security name       LTP(rs.)       7days gap(rs.)
KLG Cap Ser         67.55           50.50
JPT Sec             28.70           21.55
ContintalCrd        8.61            6.51
Kosian Fin          35.50           26.65
Gujarat Glas        250.75          201.65
GoodLuckStl         250.60          192.60
SouthnIspat         27.15           20.65
Sagar Cement        371.20          304.00
BenzoPtrIntl        12.16           9.10
KrishnFil(DS        16.30           12.30
UniSocks(I)L        24.90           19.60

2008-03-21T08:00:00.000-07:00

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New Listings-BSE

2008-03-21T07:54:00.000-07:00

Company Listing List Last Traded Last Traded Volume
Name Date Price(Rs) Date Price(Rs)
Gokak Textiles Ltd. 3/19/2008 189.00 3/19/2008 100.80 687462
Solectron EMS India Ltd. 3/18/2008 250.00 3/19/2008 174.65 376902
V-Guard Industries Ltd. 3/13/2008 82.15 3/19/2008 68.20 918465
Rural Electrification Corporation Ltd. 3/12/2008 128.40 3/19/2008 101.70 2377004 Nahar Capital & Financial Services Ltd. 3/11/2008 151.25 3/19/2008 66.10 39327
GSS America Infotech Ltd. 3/7/2008 400.00 3/19/2008 655.50 3856934
Gujarat Glass Ltd. 2/28/2008 434.45 3/19/2008 250.75 57977
Manjushree Extrusions Ltd. 2/28/2008 48.00 3/19/2008 19.80 90967
Tulsi Extrusions Ltd. 2/25/2008 93.45 3/19/2008 74.70 640342
IRB Infrastructure Developers Ltd. 2/25/2008 170.05 3/19/2008 178.65 153659 Shriram EPC Ltd. 2/20/2008 290.00 3/19/2008 224.15 11535
Bang Overseas Ltd. 2/20/2008 207.00 3/19/2008 108.05 211177
OnMobile Global Ltd. 2/19/2008 440.00 3/19/2008 485.90 851615
KNR Constructions Ltd. 2/18/2008 180.00 3/19/2008 88.85 9357
Cords Cable Industries Ltd. 2/13/2008 130.00 3/19/2008 79.90 18859
J Kumar Infraprojects Ltd. 2/12/2008 100.00 3/19/2008 75.20 172592
Reliance Power Ltd. 2/11/2008 547.80 3/19/2008 314.75 1464494
Future Capital Holdings Ltd. 2/1/2008 1,044.00 3/19/2008 551.15 72560
Camson Bio Technologies Ltd. 1/29/2008 183.60 3/19/2008 65.70 32311
ABC Paper Ltd. 1/23/2008 97.85 3/19/2008 43.95 9392

New Listings-NSE

2008-03-21T07:26:00.000-07:00

Company Listing List Last Traded Last Traded Volume
Name Date Price(Rs) Date Price(Rs)

Solectron EMS India Ltd. 3/18/2008 264.00 3/19/2008 169.75 176973
V-Guard Industries Ltd. 3/13/2008 90.00 3/19/2008 68.45 1207626
Rural Electrification Corporation Ltd. 3/12/2008 129.90 3/19/2008 102.15 3139855
Nahar Capital & Financial Services Ltd. 3/11/2008 151.20 3/19/2008 68.85 16911
GSS America Infotech Ltd. 3/7/2008 380.00 3/19/2008 658.75 2864904
NMDC Ltd. 3/3/2008 11,074.05 3/19/2008 9,523.75 1173
Gujarat Glass Ltd. 2/28/2008 434.40 3/19/2008 248.65 4746
IRB Infrastructure Developers Ltd. 2/25/2008 194.90 3/19/2008 183.75 253222
Tulsi Extrusions Ltd. 2/25/2008 99.00 3/19/2008 74.75 679636
Shriram EPC Ltd. 2/20/2008 320.00 3/19/2008 222.95 19325
Bang Overseas Ltd. 2/20/2008 250.00 3/19/2008 108.20 191722
OnMobile Global Ltd. 2/19/2008 440.00 3/19/2008 490.90 863369
Tantia Constructions Ltd. 2/19/2008 137.80 3/19/2008 80.00 27215
Sujana Universal Industries Ltd. 2/19/2008 17.10 3/19/2008 11.00 29561
Hercules Hoists Ltd. 2/19/2008 0.00 3/19/2008 1,930.35 547
KNR Constructions Ltd. 2/18/2008 210.00 3/19/2008 91.60 11277
Cords Cable Industries Ltd. 2/13/2008 143.00 3/19/2008 82.55 37635
J Kumar Infraprojects Ltd. 2/12/2008 109.00 3/19/2008 78.30 179171
Reliance Power Ltd. 2/11/2008 530.00 3/19/2008 315.00 2709901
Apollo Sindhoori Capital Investments Ltd. 2/7/2008 434.70 3/19/2008 280.00 5370

Ratios, Financial Statement Analysis & Capital Structure

2008-03-21T07:20:00.000-07:00

Return on Investment:

ROI = Operating Income / Investment Required
Project A = 200000 / 500000 = 40%
Project B = 150000 / 250000 = 60%

Residual Income:

RI = Net operating Income - Imputed Interest

Imputed Interest refers to the cost of capital.
RI tells you how much your company's operating income exceeds what it is paying for capital.

Economic Value Added:

EVA = (I - C) * (L + S)

Where I = Income
C = After Tax cost of capital
L = Long-term Liabilities
S = Stockholder's Equity

ROI or Residual Income?

Why do some companies prefer residual income (or EVA) to ROI?
Under ROI, the message is go forth and maximize your rate of return, a percentage.
Under RI, the message is go forth and maximize residual income, an absolute amount.

Invested Capital:

To apply either ROI or residual income, both income and invested capital must be measured and defined.
Total Assets
Total assets employed
Total assets less current liabilities
Stockholders' equity

EBIT & EPS:

Net profit earned before payment of interest and tax is termed as earnings before interest and tax (EBIT). On payment of interest and tax, the firm is left with profit available for distribution of dividend, also called as Earnings After Tax (EAT).

Earning After Tax:

EAT = EBIT - Interest - Tax

Earnings After Tax are available for dividend to both types of shareholders, equity as well as preference.
Equity earnings is profit left after payment of preference dividend from EAT.

Earning per Share (EPS):

EPS is defined as the earnings available for distribution to equity shareholders.

EPS = Equity Earnings / No. of Equity Shares.

The relationship between EBIT and EPS is as follows:

EPS = (EBIT - I)*(1 - T) / n

Example:
The capital structure of a firm would be influenced by the following factors:
Business and Financial risks
SEBI guidelines for Public Issues
The firm's own ability
The Earning per Share is also defined as follows:
EPS = EAT - D / n

Where EAT = Earning After Tax
D = Preference Dividend
n = No. of equity Share

Fundamental Analysis

2008-03-19T14:51:00.000-07:00

To a fundamentalist, the market price of a stock tends to move towards its intrinsic value. If the intrinsic value of a stock is above the current market price, the investor would purchase the stock, and if the intrinsic value of a stock was below the market price, the investor would sell the stock.
To start a fundamentalist makes an examination of the current and future overall health of the economy as a whole. In this step you should attempt to determine the direction and level of interest rates.
After you analyzed the overall economy then analyze firms individually. You should analyze factors that give the firm a competitive advantage in its sector such as management experience, history of performance, growth potential, low cost producer, and etc.

EPS: (Earnings Per Share)
The portion of a company's profit allocated to each outstanding share of common stock. The amount is computed by dividing net earnings by the number of outstanding shares of common stock. For example, a corporation that earned $10 million last year and has 10 million shares outstanding would report earnings per share of $1.

P/E Ratio: (Price/ EPS)
Also called its "earnings multiple", Price of a stock divided by its earnings per share. The P/E ratio may either use the reported earnings from the latest year or employ an analyst's forecast of next year's earnings. P/E gives investors an idea of how much they are paying for a company's earning power.
An important notice here is that the P/E ratio is ultimately not an objective measure; a high P/E ratio might show an overvalued stock, or it might reflect a company with high potential for growth.

Dividend
Dividend is an amount of the profits that a company pays to people who own shares in the company. When a company earns a profit, some of this money is typically reinvested in the business and called retained earnings, and some of it can be paid to its shareholders as a dividend.

Book Value
The book value of an asset or group of assets is sometimes the price at which they were originally acquired ( historic cost ), in many cases equal to purchase price.

Growth Stocks
Growth Stocks in finance , are stocks that appreciate in value and yield a high return on equity (ROE). Analysts compute ROE by taking the company's net income and dividing it by the company's equity. To be classified as a growth stock, analysts expect to see at least 15 percent ROE.

Stochastic Oscillator and Bollinger Bands indicator

2008-03-19T14:42:00.000-07:00

Stochastic Oscillator
The Stochastic Oscillator is a momentum indicator, it indicates whether the market is moving to new highs or new lows or is just meandering in the middle. This indicator is based on George Lane 's observations.
The Stochastic Oscillator is plotted in two lines Fast %k and Fast %D.
The formula is:Fast %k = 100 * [( C – L (n) ) / ( H (n) – L (n) )]
Where:C is the most recent closing price. L (n) is the low of n previous trading day (or bar).H (n) is the high price of the same n previous day (or bar).
Usually n is chosen 14.
A 3-period (day or bar) moving average is taken from Fast %k and called Fast %D. Fast %D is used as a signal line in the same way that the moving average of the MACD is used as a signal line for the MACD.
Stochastic Oscillator is plotted in two lines but, usually these lines cross each other many times. Now to smooth the chart, a 3-period moving average is taken from Fast %D and called Slow %D (Also, Fast %D is called Slow %K), so the smoothed chart is plotted with Slow %K and Slow %D.

Using of Stochastic Oscillator
1- Oscillators are used as an overbought/oversold indicator. A buy is signaled when the oscillator moves below 20, and then crosses back above 20. A sell is signaled when the oscillator moves above 80, and then crosses below 80.
2- Also, when %K crosses above or below %D, Buy and sell signals can be given. But, may be crossover occurs frequently in short periods and causes bad results. This using isn't very common.

Bollinger Bands
John Bollinger created Bollinger Bands in the 1960s; Bollinger Bands are used to determine support and resistance levels. This indicator consists of three lines; the middle line is an exponential moving average of price data and the two outside bands are equal to the moving average plus or minus standard deviation.
Standard Deviation is a statistical measure that indicates volatility of price. The bands will expand when price becomes volatile and they will contract during less volatile periods.

Using of Bollinger Bands
1- Bollinger Bands are used to determine the boundaries of market movements. If a market moved to the upper band or lower band, then there was a good chance that the market would move back to its average. In the other words, when price closes to upper band, market is overbought and when price closes to lower band, market is oversold.
2- Another using of Bollinger bands is that to indicate up-trends and down-trends. If price deflects off the lower band and crosses above moving average then price fluctuate between upper band and moving average, it comes to indicate upper price target. It is visa versa to indicate lower price.

Technical Indicators

2008-03-19T14:36:00.000-07:00

Technical indicators are the basis of technical analysis. There are dozens of technical indicators, how to choose good stock indicators? Technical indicators are used to know when to enter or exit a trade. If you know how to enter and exit a trade, you can easily make profits. That is why choosing good stock indicators are important.

Some of stock indicators are more common and useful than others. Also you need a few of them to know when to enter or exit a trade not all off them.
Technical indicators can be divided into four major categorizes:
1- Price Indicators: Oscillators, Bollinger Bands
2- Trends
3- Number Theories: Fibonacci numbers, Gann numbers
4- Waves: Elliot's wave theory
Price Indicators are computed by prices data. A subcategory of Price Indicators are oscillators. Oscillators are indicators that are usually computed from prices and tend to cycle or “oscillate” within a fixed or limited range.
Common oscillators are: Momentum and Rate of Change (ROC), Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), and Stochastic Oscillator.

Momentum and Rate of Change (ROC)
Momentum is an oscillator designed to measure the rate of price change, not the actual price level. This oscillator consists of the net difference between the current closing price and the oldest closing price from predetermined period.
The formula is:
Momentum (M) = CCP – OCP
Where: CCP is Current Closing Price and OCP is Old Closing Price
Momentum is simply the difference, and the ROC is a ratio expressed in percentage. Momentum and Rate of Change (ROC) are simple indicators showing the difference between today's price and the close N days ago. Momentum in general term means strongly movement of prices in a given direction.

Moving Average Convergence/Divergence (MACD)
MACD is computed by subtracting a longer moving average from a shorter moving average. MACD is used with a signal or trigger line, which is a moving average of MACD. If MACD and trigger line cross, then this indicate that a change in the trend is likely. MACD developed by Gerald Appel.
The MACD smoothes data, as does a moving average; but it also removes some of the trend, highlighting cycles and sometimes moving in coincidence with the market .

Relative Strength Index (RSI)
RSI measures the relative changes between up-moves or down-moves and scales its output to a fixed range, 0 to 100. RSI is an oscillator and Welles Wilder devised it.
The formula for calculating RSI is:
RSI = 100 – [100/ (1+RS)]
Where: RS is average of N days up closes, divided by average of N days down closes and N is predetermined number of days that usually chosen 14.
RSI can use as an overbought/oversold indicator. A buy signal is when the RSI moves below a threshold, into oversold territory, and then crosses back above that threshold, usually 30 is taken for oversold threshold. A sell is signaled when the RSI moves above another threshold, into overbought territory, and then crosses below that threshold, usually 70 is taken for overbought threshold.

Technical Analysis Tools

2008-03-19T14:32:00.000-07:00

Every technical analyst needs charts and indicators to study market. Three common types of charts are used by investors:
Line Chart, Bar Chart and Candlestick Chart.

Line Chart is formed by plotting one price point, usually the close, of a security over a period of time. Connecting the dots, or price points, over a period of time, creates the line.

Bar Chart is drawn by high, low and closing price. Sometimes, bar charts are drawn by opening price. In this case, bearish bars are drawn with another color.

Candlestick Chart A form of Japanese charting that has become popular in the West. A narrow line (shadow) shows the day's price range. A wider body marks the area between the open and the close.

Stock Market Technical Analysis

2008-03-19T14:28:00.000-07:00

Technical Analysis is the study of prices and volume, for forecasting of future stock price or financial price movements.Technical analysis can help investors anticipate what is "likely" to happen to prices over time.
Technical Analysis is not an exact science. It's an art and takes considerable experience. But don't worry everyone with each knowledge can learn it.

Basic Principles

Technical Analysis is based on these three basic principles:
#1 - Price Discounts Everything
Technical analysts believe that the current price fully reflects all information. Because all information is already reflected in the price, it represents the fair value, and should form the basis for analysis. After all, the market price reflects the sum knowledge of all participants, including traders, and …
Stock Market Technical analysis utilizes the information captured by the price to interpret what the market is saying with the purpose of forming a view on the future.

#2 - Prices Move in Trends
Technical analysts or chartists believe that profits can be made by following the trends. In other words if the price has risen, they expect it to continue rising; if the price has fallen, they expect it to continue falling. However, most technicians also acknowledge that there are periods when prices do not trend.

#3- History Repeats Itself
Technical analysts believe that investors en masse repeat their behavior and they assume that there is useful information hidden within price histories; that it is a way of analyzing the past actions of people in a particular market as reflected by their actual transactions.

Share market and its analysis

2008-03-19T14:20:00.000-07:00

Financial markets like NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) are countries economic barometer (a guide to economic growth).
Stock markets like NSE and BSE enable trading of a company's stock.

First let us understand the Working of a share (stock) marketTo learn more about how you can earn on the stock market, one has to understand how it works. A person want to buy/sell shares in the share market has to first place his/her order with a broker or can do themselves using online trading systems (this will be discussed later).When the buy order of the shares is communicated to the exchange [either NSE {National Stock Exchange} or BSE {Bombay Stock Exchange}]. The order stays in the queue of exchange's other orders and gets executed if the price of that share comes to that value. The shares purchased will be sent to the you either in physical or demat format

What is Demat account and why it is required?¨

Securities and Exchange Board of India (SEBI) is a board (corporate body) appointed by the Government of India in 1992 with its head office at Mumbai. Its one of the function is helping the business in stock exchanges and any other securities markets.¨ Demat (short form of Dematerialization) is the process by which an investor can get shares (also called as physical certificates) converted into electronic form maintained in an account with the Depository Participant (DP).¨ DP could be organizations involved in the business of providing financial services like banks, brokers, financial institutions etc. DP’s are like agents of Depository.¨ Depository is an organization responsible to maintain investor's securities (securities can be shares or any other form of investments) in the electronic form. In India there are two such organizations called NSDL (National Securities Depository Ltd.) and CDSL (Central Depository Services India Ltd.)¨ Investor’s wishing to open Demat account has to go DP and open the account.¨ Opening the Demat account is as simple as opening the bank account with any bank. As you need bank account to save your money, make cheque payments etc, likewise you need to open a demat account if you want to buy or sell stocks.¨ All shares what you possess will show in your demat account, so you don't have to possess any physical certificates. They are all held electronically in your demat account. As you buy and sell the shares, accordingly your shares will get adjusted in your account.

Is a demat account a must?

The market regulator, the Securities and Exchange Board of India (SEBI), has made it compulsory to open the demat account if you want to buy and sell shares.So a demat account is a must for trading and investing.

How to open a Demat account?

You have to approach a DP to open a Demat account.Most banks are DP participants so you may approach them or else you can contact us.To have latest list of registered DP please visit websites www.nsdl.co.in and www.cdslindia.com.A broker and a DP are two different people. A broker is a member of the stock exchange, who buys and sells shares on his behalf and also on behalf of his customers.

Basics of Indian Share Market

2008-03-19T14:14:00.001-07:00

Share -

Share is nothing but the Ownership of the company divided into small parts and each part is called as Share or Stock.A person carrying a share of a compnay holds that part of ownership in that company.A person holding maximum shares has maximum ownership like directors, chairman etc.

Share Market -

A Share market is the place where buying and selling of shares takes place.Nowdays due to internet and advanced technology buying and selling of shares takes place anywhere in india and also from foreign country, there is no need to be physical present in exchanges like NSE and BSE.