MCX GOLD closes below its important support, further weakness can be seen as long as holds below 26351.

MCX GOLD 10 KG

Charts updated for - 23rd February 2015.

• MCX Gold closes below its major support zone , this indicates as long as holds below 26351 bears will be favored (its previous support is now acting as a major resistance).
• On down side will find strong support around 25224.

DLF to sell 50% stakes in 4 projs to PE firms for Rs 3000 cr

DLF LTD

NEW DELHI: Realty major DLF plans to divest around 50 per cent stake each in four new housing projects to private equity firms for over Rs 3,000 crore, a senior company official said today.

India's largest real estate firm expects to close some of the deals by June and would utilise the funds to improve its cash-flows that have been affected due to slowdown in housing demand.

"We are looking for private equity in 4 greenfield housing projects in Delhi-NCR and South India,".

Suggested Reading - DLF stock analysis.

He said discussions with few private equity players have started but declined to disclose their names. Tyagi hoped that at least 2-3 PE deals should get closed by June-end. "We are targeting to raise about Rs 2,500 crore by June from 2-3 deals".Asked about the dilution of stake in each of the 4 housing projects, Tyagi said it would be around 50 per cent.

On the utilisation of funds raised via private equity at projects level, he said the same would be utilised "to augment the operating cash flow of our development arm DevCo". DLF has divided its real estate business in two parts - DevCo, under which all residential projects fall, and RentCo, which is the rental business from office and retail projects.

Since sales are slow, we are planning to raise about Rs 3,000 crore through private equity. In the short term, PE fund will be the substitute for the cash flow which would have normally come from sales," Tyagi said. DLF CFO said out of Rs 20,336 crore net debt, nearly Rs 6,500 crore pertains to DevCo.

"Debt of DevCo will remain around this level in short term and we will pare the debt as and when sales improve," he added. On RentCo's debt, Tyagi said it would increase in the short term and eventually get reduced through launch of two Real Estate Investment Trusts (REITs). Earlier this month, DLF had reported 9 per cent decline in consolidated net profit at Rs 131.79 crore for the quarter ended December due to fall in sales and other income.

Its net profit stood at Rs 145.29 crore in the year-ago period. Income from operations fell 5 per cent to Rs 1,956.72 crore for the third quarter of this fiscal from Rs 2,058.42 crore in the corresponding period of the previous year. Total income declined by 20 per cent to Rs 2,079.82 crore for the quarter ended December from Rs 2,590.2 crore in the year-ago period.

DLF has a land bank of about 295 million square feet, of which 50 million square feet is under development.

Source: Moneycontrol.

MCX CRUDE OIL moving in range bound zone, sharp movement expecting once it comes out.

MCX CRUDE OIL

Charts updated for - 23rd February 2015.

• MCX Crude Oil moving in a range bound zone, technical indicates sharp movement expecting once it comes out from its formation.
• Stock also finding 50 DMA resistance, bulls will be favored once it starts trading above 50 DMA. Close Watch.
• Suggested Reading - India's exposure to US govt securities touches $83 bn in December.

Cricket World Cup 2015 India v/s South Africa: India Crush South Africa, win by 130 runs.

ICC World Cup 2015

 India vs South Africa

India crushes South Africa by 130 runs

Shikhar Dhawan is declared the Man of the Match, India stay at the top of Pool A . They will now face UAE next on Saturday. But for now its a time for celebration.

Suggested Reading - PM Modi’s Suit Auctioned.

MCX COPPER finding strong resistance around 365, will favor bulls once it closes and holds above.

MCX COPPER

Charts updated for - 23rd February 2015.

• MCX copper finding strong 38.2%  fibonacci retracement resistance at current levels, chart indicates further price rise can be seen once it closes and holds above 365.
• Copper also holding above 20 DMA, this indicates bulls will be favored. Close Watch.
• MCX Aluminium analysis.
• Suggested Reading - India's exposure to US govt securities touches $83 bn in December.

India's exposure to US govt securities touches $83 bn in December

Touching a one-year high, India’s exposure to US Government securities stood at $83 billion in December, amid the world’s largest economy seeing signs of recovery.

India, one of the significant holders of securities issued by the US Treasury Department, has been increasing its exposure intermittently during the last year. In December 2013, the country’s exposure was worth only $68.5 billion.

Neighbouring China remained the largest holder of such securities with exposure worth over $1.24 trillion at the end of December last year. However, it was lower than $1.25 trillion seen in November.

Latest data from the Treasury Department shows that India’s holdings rose to $83 billion in December, an increase of $2.5 billion compared to the previous month. In November last year, the exposure touched $80.5 billion.

India has been hiking its holdings since October 2014 when the same stood at $77.5 billion.

Among the BRIC nations, India has the least exposure to US government bonds. At the end of December, after China, Brazil had the maximum exposure at $255.8 billion followed by Russia with holdings worth $86 billion.

In the three months ended December, the American economy grew 2.6 per cent, according to the latest estimate from the US Bureau of Economic Analysis.

“The sum total in December of all net foreign acquisitions of long-term securities, short-term US securities, and banking flows was a monthly net Treasury International Capital (TIC) outflow of $174.8 billion.

“Of this, net foreign private outflows were $143.7 billion, and net foreign official outflows were $31.1 billion,” the Treasury Department said in a recent statement.

Foreign residents increased their holdings of its bills by $24.8 billion in December. Foreign resident holdings of all dollar-denominated short-term US securities and other custody liabilities increased by $10.1 billion, it added.

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