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Hold your breath shareholders! Tamilnad Mercantile Bank (TMB) has declared an interim dividend of 9,000 per cent. Yes, you read it right.
That’s actually Rs 900 per share of Rs 10 each, for the fiscal ending March 2014.
The board of this Tuticorin-headquartered bank took a decision to this effect at a meeting held on January 18.
Bank sources said this would translate into an outgo of Rs 25.6 crore (unchanged from last year).
The 9,000 per cent interim dividend is said to be the highest in the banking industry and this is the second year in a row that the bank has declared such a high dividend. It may be recalled that the bank’s board had approved a dividend of Rs 750 per share for 2008-09 and Rs 1,000 per share the following year, but could not make the payment as the annual general meetings for 2009-10 and 2010-11 were not held due to legal issues.
Bank sources said TMB’s shares continue to trade at between Rs 60,000 and Rs 65,000 a share in the informal market.
As snowy Davos becomes engulfed in the hustle and bustle of another World Economic Forum, Microsoft founder Bill Gates took the opportunity to deliver an upbeat message in his annual newsletter.
The 25-page report, written by Gates and his wife Melinda, who are co-chairs of the Bill & Melinda Gates Foundation, argued that the world is a better place than it has even been before.
Gates predicted that by 2035, there would be almost no poor countries left in the world, using today's World Bank classification of low-income countries — even after adjusting for inflation.
"Poor countries are not doomed to stay poor. Some of the so-called developing nations have already developed," he said in a his annual note, published on Tuesday.
"I am optimistic enough about this that I am willing to make a prediction. By 2035, there will be almost no poor countries left in the world."
Although its only mid-January, 2014 is shaping up to be a better year for the global economy – indeed, probably the best since the 2008 global financial crisis.
Growth is picking up as the advanced countries heal and emerging markets stabilize. Unemployment rates are trending down.
Strengthened prudential supervision and regulation have lowered the risks of another financial crisis. There are genuine hopes that companies will convert more of their massive cash holdings and record profitability into higher investments in plant, equipment and people. And the improved economic context gives central banks a better chance of normalizing their monetary policies in an orderly and timely fashion.
This is all good and welcomed news. No wonder equity markets in advanced economies have surged, with new records being set this month on both side of the Atlantic. Moreover, quite a few indicators of risk appetite point to almost universal comfort with the prospects of a Goldilocks global economy and further market gains.
First, global economic growth, while higher, will likely fall short of the much-hoped for "escape velocity." As such, it will be insufficient to mitigate properly the problems of high youth and long-term unemployment in advanced economies; it will not halt the excessive deterioration in inequalities of income, wealth and opportunities; and it is not yet strong enough to enable the most highly-indebted economies to grow out of their problems.
Second, in its support of markets and the economy, U.S. Federal Reserve policy is transitioning: reducing reliance on a direct instrument (namely, purchases of securities in the markets or QE3) while enhancing the use of an indirect and less predictable measure (forward policy guidance)
Third, some systemically important emerging economies such as Brazil and Turkey have not yet sufficiently regained the type of policy composure needed to navigate a rather fluid economy that is heavily impacted by changes in central bank policies in advanced countries, both real and perceived.
Fourth, there is little to suggest that Washington's political polarisation, and the Congressional dysfunction that come with it, will moderate. Rather than implement long-delayed pro-growth legislative initiatives that would strengthen the economy's recovery path, Washington may again slip into manufacturing potholes instead.
Fifth, the massive improvement in peripheral Europe's risk spreads is yet to translate into meaningful gains for the real economy and labor markets. Meanwhile, core European growth – particularly Germany's – is facing increased headwinds on account of the euro's currency appreciation -- especially vis-à-vis the Japanese Yen.
Finally, the multilateral system's ability to reconcile national inconsistencies continues to be hampered by structural weaknesses, including protracted deficits in representation, voice and other key governance elements.
All this suggests that a key challenge facing the global economy in 2014 is to convert the current economic improvement into a springboard for an even stronger medium-term recovery.
For that to happen, policymakers will need to go beyond congratulating themselves and address more decisively the trio of insufficient supply responsiveness, an inadequate level and composition of aggregate demand, and remaining debt overhangs.
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What To Do Today..........
Our Opininon for Today's Market.......
1.Market Looks Volatile.....
1.Some Insider Say NIfTy go up to 6200
What To Do Today........
Nifty....Today Face Resistance at......6378...6422..6455
Nifty.....Today Support at ..6320...6275...6232
Nifty Range...4200--------6600
TRACK ME RESEARCH......
NEXT TGT FOR
Sell Nifty Around 6200/6300
Our Opinion for Today's Market.......
1.Stock Specific Movement Expected Today ......
2. Mid-caps Looks Good....
INTRADAY HOT STOCKS: 24/1/2014
buy centurytex sl 280 tgt 310/325/350 sell below 275
buy hul ab 563 sl 560 tgt 570/578
buy axis around 1200-1205 sl 1190 tgt 1228/1245/1270 sell below 1185
sell dlf sl 163 tgt 157/154
buy rambanxy sl 396 tgt 425/445/459
buy itc ab 332 tgt 334/336/338 sl 330 sell below 329
buy raymond sl 270 tgt 330/350
L&T FINANCE HOLDINGS
(BSE TICKER-533519@ Rs.83/-)
Yeessssssssssssssssssssssssss
RBI TO ANNOUNCE NEW BANK LICENCE SOON
L&T HOLDINGS EXPCTED TO GET FIRST BANKING LICENCE !!!!
Rs.120/- Rs.150/-
Alert:- Our Subscriber's Long in Stock!!!
HFCL
(Bse Ticker-500183@ Rs.9.88)
Great Breakout Above Rs.9.80
Stock Heading to Rs.15/-
TARGET
Rs.13/- Rs.15/- SL Rs.7/-
NUCLEUS SOFTWARE
(Bse Ticker-531209@ Rs.162/-)
Major Breakout On Monthly Chart Above Rs.160/-
(2 Closing+Weekly Closing ) Above Rs.160/-
Gatye Open For Stock to Go Rs.250/-
TARGET
Rs.168/- Rs.175/- SL Rs.148/-
DELTA CORP
(Bse Ticker-532848@ Rs.89/-)
Stock Again Ready For Big Up Move
Above Rs.101/-
Uppar Range For Stock Rise to Rs.140/-
TARGET
Rs.98/- Rs.101/- SL Rs.79/-
AVANTI FEEDS
(Bse Ticker-512573@ Rs.268/-)
Stock Ready For Next Big Up Move
Above Rs.255/-
TARGET
Rs.282/- Rs.340/- SL Rs.211/-
Forget Short Term Movment
