Analysis of risk and return on FMCG industryferoz ahmad
This document is an analysis of risk and return for five FMCG companies - Colgate Palmolive, Dabur India Ltd., Godrej Consumer Products Ltd., Hindustan Unilever Ltd., and ITC Ltd. conducted by students of JAIPURIA INSTITUTE OF MANAGEMENT, LUCKNOW.
The analysis calculates the beta, average return, required return, and alpha for each company based on their monthly returns from April 2010 to March 2011 compared to the BSE SENSEX. The betas indicate the systematic risk level of each stock relative to the market. Three of the companies were found to be overpriced based on their current returns relative to the required returns given their risk levels
The document provides a summary of derivative market activity in India for July 29, 2010. Key points include:
- Open interest for Nifty futures decreased slightly while Minifity futures open interest decreased more sharply. Nifty July futures closed at a discount.
- Implied volatility increased and total open interest in the market was over Rs. 1.72 trillion with stock futures open interest at Rs. 44,894 crore.
- Rollover percentages for various contracts like Nifty, Banknifty were over 60%.
- Some stocks like Reliance, Aban saw increases in open interest while others like Samrudhhi, EKC saw decreases.
The derivative report summarizes developments in the Indian derivatives market on May 05, 2010. Open interest in Nifty futures increased by 6% while open interest in Mini Nifty futures rose by 36.12%. The PCR for Nifty decreased from 1.16 to 1.12. Some stocks saw significant increases in open interest like Jindal Steel and Ultracemco, while others like Religare and Divis Labs saw decreases. The report also covers put-call ratios, open positions of FIIs, and provides analysis of option strategies like bull call spreads and bear put spreads.
The Nifty futures open interest decreased by 28.45% while the Minifity futures open interest decreased by 13.34% as the market closed at 6143.40. The Nifty October future closed at a premium of 32.90 points against a premium of 10.85 points in the previous session, while the November future closed at a premium of 44.20 points. The PCR-OI decreased from 2.00 to 1.36. FIIs were net buyers of Rs. 1,825 crores in the cash market segment and significant build up was seen in the 6200 and 6300 call option series.
The derivative report summarizes developments in the Indian derivatives market on August 25, 2010. Open interest in Nifty futures increased by 1.64% while open interest in Minifity futures decreased by 8.09%. The Nifty August future closed at a premium while the September future closed at a higher premium. Key put-call ratios and historical volatilities are also mentioned. Some stocks that saw significant changes in open interest are highlighted.
Commodity exchanges allow traders to buy and sell commodities and commodity derivatives like futures contracts. They provide a standardized marketplace where prices are set and trading rules established. The major commodity exchanges in India are the National Commodity and Derivatives Exchange, Multi Commodity Exchange of India, and National Multi Commodity Exchange of India which trade agricultural commodities and other raw materials.
The commodity futures market in India has evolved over 120 years, with the first organized exchange established in 1875. Key developments include the banning of futures trading in 1966 and reintroduction in 2003. Today, the major commodity exchanges are MCX and NCDEX, which trade over 60 commodities. Trading volumes have grown significantly in recent years compared to equity markets. The commodity markets benefit farmers, traders, and others through price discovery, risk management, and competitiveness. However, foreign and institutional participation remains limited. Overall, India's commodity markets have expanded rapidly and are expected to continue growing.
Analysis of risk and return on FMCG industryferoz ahmad
This document is an analysis of risk and return for five FMCG companies - Colgate Palmolive, Dabur India Ltd., Godrej Consumer Products Ltd., Hindustan Unilever Ltd., and ITC Ltd. conducted by students of JAIPURIA INSTITUTE OF MANAGEMENT, LUCKNOW.
The analysis calculates the beta, average return, required return, and alpha for each company based on their monthly returns from April 2010 to March 2011 compared to the BSE SENSEX. The betas indicate the systematic risk level of each stock relative to the market. Three of the companies were found to be overpriced based on their current returns relative to the required returns given their risk levels
The document provides a summary of derivative market activity in India for July 29, 2010. Key points include:
- Open interest for Nifty futures decreased slightly while Minifity futures open interest decreased more sharply. Nifty July futures closed at a discount.
- Implied volatility increased and total open interest in the market was over Rs. 1.72 trillion with stock futures open interest at Rs. 44,894 crore.
- Rollover percentages for various contracts like Nifty, Banknifty were over 60%.
- Some stocks like Reliance, Aban saw increases in open interest while others like Samrudhhi, EKC saw decreases.
The derivative report summarizes developments in the Indian derivatives market on May 05, 2010. Open interest in Nifty futures increased by 6% while open interest in Mini Nifty futures rose by 36.12%. The PCR for Nifty decreased from 1.16 to 1.12. Some stocks saw significant increases in open interest like Jindal Steel and Ultracemco, while others like Religare and Divis Labs saw decreases. The report also covers put-call ratios, open positions of FIIs, and provides analysis of option strategies like bull call spreads and bear put spreads.
The Nifty futures open interest decreased by 28.45% while the Minifity futures open interest decreased by 13.34% as the market closed at 6143.40. The Nifty October future closed at a premium of 32.90 points against a premium of 10.85 points in the previous session, while the November future closed at a premium of 44.20 points. The PCR-OI decreased from 2.00 to 1.36. FIIs were net buyers of Rs. 1,825 crores in the cash market segment and significant build up was seen in the 6200 and 6300 call option series.
The derivative report summarizes developments in the Indian derivatives market on August 25, 2010. Open interest in Nifty futures increased by 1.64% while open interest in Minifity futures decreased by 8.09%. The Nifty August future closed at a premium while the September future closed at a higher premium. Key put-call ratios and historical volatilities are also mentioned. Some stocks that saw significant changes in open interest are highlighted.
Commodity exchanges allow traders to buy and sell commodities and commodity derivatives like futures contracts. They provide a standardized marketplace where prices are set and trading rules established. The major commodity exchanges in India are the National Commodity and Derivatives Exchange, Multi Commodity Exchange of India, and National Multi Commodity Exchange of India which trade agricultural commodities and other raw materials.
The commodity futures market in India has evolved over 120 years, with the first organized exchange established in 1875. Key developments include the banning of futures trading in 1966 and reintroduction in 2003. Today, the major commodity exchanges are MCX and NCDEX, which trade over 60 commodities. Trading volumes have grown significantly in recent years compared to equity markets. The commodity markets benefit farmers, traders, and others through price discovery, risk management, and competitiveness. However, foreign and institutional participation remains limited. Overall, India's commodity markets have expanded rapidly and are expected to continue growing.
Exchanges for commodity future in indiaSubodh Meher
Commodity exchanges in India allow trading of various commodities including precious metals, agricultural products, and energy sources. The Forward Markets Commission (FMC) regulates 22 commodity exchanges across India, including major exchanges like Multi Commodity Exchange and National Commodity and Derivatives Exchange. The FMC advises the government, monitors trading conditions, collects market information, and ensures transparency and risk management in commodity exchanges. Commodity exchanges provide a platform for buyers and sellers to trade standardized futures and options contracts on various commodities.
The document outlines plans for the Ethiopia Commodity Exchange (ECEX), which aims to revolutionize Ethiopia's agriculture through an efficient and orderly marketing system. It discusses how ECEX will establish a centralized marketplace using a trading platform and network of warehouses. This is expected to increase transparency, market access, and risk management for smallholder farmers while promoting the commercialization of agriculture. The establishment of ECEX will help sustain Ethiopia's economic growth and reduce poverty through better functioning domestic and international agricultural markets.
This document discusses the history and operations of the Multi Commodity Exchange of India (MCX). It was established in 2003 as India's first online, national level exchange for commodity derivatives trading. It facilitates online trading, clearing and settlement of contracts for 30 commodities. MCX has over 2100 members across India. However, in 2013 its affiliated company National Spot Exchange Limited (NSEL) defaulted on Rs. 5,600 crores of payments, leading to a decline in MCX's revenues and reputation. The document examines the challenges now facing MCX, including reduced transaction volumes and fees, as well as the potential sale of its majority owner Financial Technologies shares.
From www.evangelismcoach.org Presentation given for the Evangelism Dunamis about the role of the Holy Spirit in Evangelism. How can we see the Holy Spirit bringing a person to Faith in Christ and empowering witnesses to share their faith.
The document provides information about cooperative societies including definitions, types, and scope. It discusses that a cooperative is a voluntary association of persons united to meet common economic, social, and cultural needs through a jointly-owned business. It then describes the main characteristics of cooperatives and lists the major types including consumer, producer, marketing, thrift and credit, and housing cooperatives. The document concludes by discussing the role of cooperatives in India such as their contribution to agriculture credit, fertilizer distribution, and sugar production.
14 Useful Questions for the Friendly EvangelistChris Walker
The friendly evangelist needs to have some conversational starter questions to sometimes raise spiritual questions. Questions can be used to diagnose where a person is in their journey to Christ. If you practice personal evangelism, consider adding these questions to your memory for conversations about Jesus. Helpful to know the Engle scale as well
MCX is India's largest commodity exchange, headquartered in Mumbai. It has over 80% market share and offers futures trading in over 40 commodities. MCX was the first Indian exchange to offer futures in commodities like steel, crude oil, and almonds. It has over 2,000 members and 300,000 terminals across 1,500 cities. MCX's initial public offering was oversubscribed 54 times, attracting bids of Rs. 35,000 crore, making it one of India's most oversubscribed offerings.
The document describes Tanzania Agricultural Commodity Exchange (TACE), which aims to improve Tanzania's agriculture sector by incubating farmers, managing commodity exchange programs, and sharing resources through pilot farms. TACE's mission is to offer improved services to stakeholders in the agriculture sector. It will do this through activities like agribusiness incubation, operating a commodity exchange platform, and establishing pilot farms and resource sharing programs. TACE plans to work with partners like mobile companies, banks, and government authorities to empower farmers and connect them to reliable markets.
Clearing and settlement on commodity exchangespagi
Commodity markets allow for the trading of raw materials. Commodities are traded on regulated exchanges where they are bought and sold through futures contracts. These contracts help reduce risk through standardization, liquidity, and the clearing house system. The clearing house guarantees all contracts by collecting margin deposits and ensuring the financial settlement of all trades. Exchanges also employ measures like settlement funds, price limits, and warehouse receipts to further mitigate risk in the commodity market.
District central cooperative banks (dccbNemi Verma
This document provides an overview of District Central Co-operative Banks (DCCBs) in India. DCCBs are located in district headquarters and have both individual and cooperative members. They have three sources of funds: share capital and reserves, public deposits, and loans from state cooperative banks. DCCBs provide credit and banking services to member cooperatives like primary agricultural credit societies. They also distribute short and long term loans to farmers, and oversee inspection of primary cooperatives to ensure compliance with banking regulations.
Want to increase the number of spiritual conversations you can have during the ordinary course of life? Quotes from Doug Cecil's book, "The 7 Principles of an Evangelistic Life." My own conversational course is here http://www.evangelismcoach.org/2012/new-dvd-effective-evangelism-conversations/
The document provides an overview of the Indian commodity market, including the two major commodity exchanges - MCX and NCDEX. It discusses the various commodities traded on the exchanges like agricultural products, precious metals, base metals and energy. It also provides details about commodity futures contracts, their purpose and participants. The benefits of hedging and different hedging strategies like long hedge and short hedge are explained with examples. Lastly, it summarizes the advantages of trading commodities with MK Commodity Brokers like their research, online trading platform and round-the-clock operations.
Stratified medicine - How Can We Help Each OtherSpace IDEAS Hub
Stratified Medicine – Opportunities for Business was a session that provided information to help businesses. It included presentations on how the Space IDEAS Hub can help leverage expertise from the space industry, intellectual property, and funding options. The Space IDEAS Hub helps businesses with challenges through innovative solutions, engineering expertise, and analysis. It has experience from space programs and can help spin out new technologies. Intellectual property was discussed, including patents, trademarks, registered designs, and copyright. Finally, funding through business angels and venture capital was covered, including when they provide funding, what they expect from investments, and the assessment process.
This project report summarizes the working and trading procedures of the Indian stock market with reference to Anand Rathi, a leading Indian brokerage company. It provides an overview of Anand Rathi, including that it was founded in 1994 and offers various financial products and services. It also describes key aspects of the stock market like the primary and secondary markets, stock exchanges in India, SEBI, opening a demat account, online and offline trading, derivatives, commodities, mutual funds, insurance, and portfolio management.
The document discusses collateral management in the context of recent regulatory changes affecting the derivatives market. It covers topics such as the G20 requirements for derivatives trading, the impact of regulations like Basel III, and the increasing demand for collateral. Challenges related to collateral include the costs associated with managing it and the need to optimize usage of different types of collateral.
This presentation provides an overview of North American Palladium's investment case. It discusses NAP's transition into a long-life, low-cost palladium producer through expansion of its Lac des Iles mine in Ontario, Canada. The expansion includes sinking a new shaft to increase underground mining rates and production to over 250,000 ounces of palladium annually by 2015 at cash costs of around $200 per ounce. Near-term catalysts include commissioning the new shaft by the end of 2012 and growing production to 150,000-160,000 ounces in 2012. The presentation also reviews positive fundamentals for palladium including constrained mine supply and increasing demand from auto catalysts.
RMIT Vietnam Finance Club - Online Stock Trading WorkshopTai Tran
The document outlines an agenda for discussing market structure, trading techniques and strategies, and how to pick good stocks. It discusses the typical flow of stock orders, different types of trading orders, trading costs, factors used in academic models to pick stocks, and different analysis methods like fundamental analysis, technical analysis, and high-frequency trading. The document concludes with a bibliography of relevant references.
Analytics have become a vital element in grocery retailers’ toolboxes, helping them to hone in on best practices in order to improve customer service. From space management and promotion planning to price optimization and assortment planning, analytics are delivering the insights that help grow the business and improve the bottom line.
Retailers around the world are finding success with insight-driven analytics. Representing the largest grocery cooperative in Finland, Ilkka Alarotu from the S Group will share his expertise and experiences with analytics in an upcoming webinar.
Joining Alarotu during the webinar, industry consultant Jim Hertel from Willard Bishop will discuss his perspective on the benefits of analytics; and Cyndy Renfrow from SAS will share grocery case studies highlighting innovation and analytics.
Exchanges for commodity future in indiaSubodh Meher
Commodity exchanges in India allow trading of various commodities including precious metals, agricultural products, and energy sources. The Forward Markets Commission (FMC) regulates 22 commodity exchanges across India, including major exchanges like Multi Commodity Exchange and National Commodity and Derivatives Exchange. The FMC advises the government, monitors trading conditions, collects market information, and ensures transparency and risk management in commodity exchanges. Commodity exchanges provide a platform for buyers and sellers to trade standardized futures and options contracts on various commodities.
The document outlines plans for the Ethiopia Commodity Exchange (ECEX), which aims to revolutionize Ethiopia's agriculture through an efficient and orderly marketing system. It discusses how ECEX will establish a centralized marketplace using a trading platform and network of warehouses. This is expected to increase transparency, market access, and risk management for smallholder farmers while promoting the commercialization of agriculture. The establishment of ECEX will help sustain Ethiopia's economic growth and reduce poverty through better functioning domestic and international agricultural markets.
This document discusses the history and operations of the Multi Commodity Exchange of India (MCX). It was established in 2003 as India's first online, national level exchange for commodity derivatives trading. It facilitates online trading, clearing and settlement of contracts for 30 commodities. MCX has over 2100 members across India. However, in 2013 its affiliated company National Spot Exchange Limited (NSEL) defaulted on Rs. 5,600 crores of payments, leading to a decline in MCX's revenues and reputation. The document examines the challenges now facing MCX, including reduced transaction volumes and fees, as well as the potential sale of its majority owner Financial Technologies shares.
From www.evangelismcoach.org Presentation given for the Evangelism Dunamis about the role of the Holy Spirit in Evangelism. How can we see the Holy Spirit bringing a person to Faith in Christ and empowering witnesses to share their faith.
The document provides information about cooperative societies including definitions, types, and scope. It discusses that a cooperative is a voluntary association of persons united to meet common economic, social, and cultural needs through a jointly-owned business. It then describes the main characteristics of cooperatives and lists the major types including consumer, producer, marketing, thrift and credit, and housing cooperatives. The document concludes by discussing the role of cooperatives in India such as their contribution to agriculture credit, fertilizer distribution, and sugar production.
14 Useful Questions for the Friendly EvangelistChris Walker
The friendly evangelist needs to have some conversational starter questions to sometimes raise spiritual questions. Questions can be used to diagnose where a person is in their journey to Christ. If you practice personal evangelism, consider adding these questions to your memory for conversations about Jesus. Helpful to know the Engle scale as well
MCX is India's largest commodity exchange, headquartered in Mumbai. It has over 80% market share and offers futures trading in over 40 commodities. MCX was the first Indian exchange to offer futures in commodities like steel, crude oil, and almonds. It has over 2,000 members and 300,000 terminals across 1,500 cities. MCX's initial public offering was oversubscribed 54 times, attracting bids of Rs. 35,000 crore, making it one of India's most oversubscribed offerings.
The document describes Tanzania Agricultural Commodity Exchange (TACE), which aims to improve Tanzania's agriculture sector by incubating farmers, managing commodity exchange programs, and sharing resources through pilot farms. TACE's mission is to offer improved services to stakeholders in the agriculture sector. It will do this through activities like agribusiness incubation, operating a commodity exchange platform, and establishing pilot farms and resource sharing programs. TACE plans to work with partners like mobile companies, banks, and government authorities to empower farmers and connect them to reliable markets.
Clearing and settlement on commodity exchangespagi
Commodity markets allow for the trading of raw materials. Commodities are traded on regulated exchanges where they are bought and sold through futures contracts. These contracts help reduce risk through standardization, liquidity, and the clearing house system. The clearing house guarantees all contracts by collecting margin deposits and ensuring the financial settlement of all trades. Exchanges also employ measures like settlement funds, price limits, and warehouse receipts to further mitigate risk in the commodity market.
District central cooperative banks (dccbNemi Verma
This document provides an overview of District Central Co-operative Banks (DCCBs) in India. DCCBs are located in district headquarters and have both individual and cooperative members. They have three sources of funds: share capital and reserves, public deposits, and loans from state cooperative banks. DCCBs provide credit and banking services to member cooperatives like primary agricultural credit societies. They also distribute short and long term loans to farmers, and oversee inspection of primary cooperatives to ensure compliance with banking regulations.
Want to increase the number of spiritual conversations you can have during the ordinary course of life? Quotes from Doug Cecil's book, "The 7 Principles of an Evangelistic Life." My own conversational course is here http://www.evangelismcoach.org/2012/new-dvd-effective-evangelism-conversations/
The document provides an overview of the Indian commodity market, including the two major commodity exchanges - MCX and NCDEX. It discusses the various commodities traded on the exchanges like agricultural products, precious metals, base metals and energy. It also provides details about commodity futures contracts, their purpose and participants. The benefits of hedging and different hedging strategies like long hedge and short hedge are explained with examples. Lastly, it summarizes the advantages of trading commodities with MK Commodity Brokers like their research, online trading platform and round-the-clock operations.
Stratified medicine - How Can We Help Each OtherSpace IDEAS Hub
Stratified Medicine – Opportunities for Business was a session that provided information to help businesses. It included presentations on how the Space IDEAS Hub can help leverage expertise from the space industry, intellectual property, and funding options. The Space IDEAS Hub helps businesses with challenges through innovative solutions, engineering expertise, and analysis. It has experience from space programs and can help spin out new technologies. Intellectual property was discussed, including patents, trademarks, registered designs, and copyright. Finally, funding through business angels and venture capital was covered, including when they provide funding, what they expect from investments, and the assessment process.
This project report summarizes the working and trading procedures of the Indian stock market with reference to Anand Rathi, a leading Indian brokerage company. It provides an overview of Anand Rathi, including that it was founded in 1994 and offers various financial products and services. It also describes key aspects of the stock market like the primary and secondary markets, stock exchanges in India, SEBI, opening a demat account, online and offline trading, derivatives, commodities, mutual funds, insurance, and portfolio management.
The document discusses collateral management in the context of recent regulatory changes affecting the derivatives market. It covers topics such as the G20 requirements for derivatives trading, the impact of regulations like Basel III, and the increasing demand for collateral. Challenges related to collateral include the costs associated with managing it and the need to optimize usage of different types of collateral.
This presentation provides an overview of North American Palladium's investment case. It discusses NAP's transition into a long-life, low-cost palladium producer through expansion of its Lac des Iles mine in Ontario, Canada. The expansion includes sinking a new shaft to increase underground mining rates and production to over 250,000 ounces of palladium annually by 2015 at cash costs of around $200 per ounce. Near-term catalysts include commissioning the new shaft by the end of 2012 and growing production to 150,000-160,000 ounces in 2012. The presentation also reviews positive fundamentals for palladium including constrained mine supply and increasing demand from auto catalysts.
RMIT Vietnam Finance Club - Online Stock Trading WorkshopTai Tran
The document outlines an agenda for discussing market structure, trading techniques and strategies, and how to pick good stocks. It discusses the typical flow of stock orders, different types of trading orders, trading costs, factors used in academic models to pick stocks, and different analysis methods like fundamental analysis, technical analysis, and high-frequency trading. The document concludes with a bibliography of relevant references.
Analytics have become a vital element in grocery retailers’ toolboxes, helping them to hone in on best practices in order to improve customer service. From space management and promotion planning to price optimization and assortment planning, analytics are delivering the insights that help grow the business and improve the bottom line.
Retailers around the world are finding success with insight-driven analytics. Representing the largest grocery cooperative in Finland, Ilkka Alarotu from the S Group will share his expertise and experiences with analytics in an upcoming webinar.
Joining Alarotu during the webinar, industry consultant Jim Hertel from Willard Bishop will discuss his perspective on the benefits of analytics; and Cyndy Renfrow from SAS will share grocery case studies highlighting innovation and analytics.
This presentation provides an overview of North American Palladium and its Lac des Iles palladium mine. It highlights NAP's strong balance sheet, experienced management team, and the compelling investment case for palladium given constrained mine supply and growing demand. The presentation also details the expansion underway at LDI mine, including sinking a new shaft to increase production capacity and lower costs. Once mining rates reach 5,500 tpd in 2015, annual production is projected to exceed 250,000 ounces of palladium with cash costs of around $200 per ounce.
How to maximise the potential of buying or selling a business in today's econ...Blake Morgan
Blake Lapthorn, Critchleys and Shirlaws hosted a seminar on Thursday 13 September at Blake Lapthorn's Oxford office on maximising the potential of buying or selling a business in today's economic climate.
Commodity market in nepal, By Somnath kandelsomnath_kandel
The document discusses commodity derivatives markets in Nepal. It provides an overview of commodity exchanges globally and in Nepal, outlining some of the proposed structures. It describes the importance and advantages of commodity markets, including risk minimization and fair price discovery. Some of the risks of the market are also outlined. Factors that affect trading decisions, both fundamental and technical, are explored. The conclusion notes that the Nepalese commodity derivatives market is still developing.
This presentation provides an investment case for North American Palladium. It notes that NAP is transitioning into a long-life, low-cost palladium producer with steady production growth. It highlights NAP's leverage to rising palladium prices and attractive jurisdiction compared to South African peers. The presentation also outlines NAP's development and exploration upside, experienced management team, and strong balance sheet to fund growth.
Vertex Securities Limited is a leading financial services firm in India. It has been operating in the stock market since 1993. The company has various departments including backoffice, trading, and administration. Vertex is a member of several Indian stock and commodity exchanges. It offers investment avenues in both the stock and commodities markets. Fundamental analysis examines company financials and ratios to evaluate stocks, while technical analysis uses indicators like relative strength index and value at risk to identify trading opportunities. Gold exchange-traded funds (ETFs) allow investors to gain gold market exposure in a convenient, affordable, and secure manner compared to alternatives like jewelry and bank deposits.
This document discusses various methods for valuing a business, including:
1) The asset approach values a business based on its assets and liabilities. The income approach values a business based on its expected future earnings by using methods like discounted cash flow analysis.
2) The market approach values a business based on comparisons to similar publicly traded companies.
3) Key aspects of valuation methods are discussed in more detail, including calculating cost of capital and dealing with factors like control premiums and discounts.
4) The document emphasizes that valuation requires significant judgment and there may be different values depending on strategic interests and other factors.
This document discusses designing customer-oriented marketing channels. It explains that distribution channel management is important because channels are the interface with customers, difficult to change, and can bottleneck or differentiate a business. A well-defined channel strategy is needed to achieve segmentation objectives. The document then provides examples of channel structures and flows, as well as considerations for channel design such as product characteristics, customer service demands, requisite channel functions, and costs. The goal of channel configuration is to define the optimal channel flow and structure for each customer segment.
The document discusses different types of competitors that a company may face: brand competitors, industry competitors, form competitors, and generic competitors. It then provides examples of competitive industries and the types of products and services offered. The rest of the document outlines frameworks for analyzing a company's competitive environment, including factors that influence competition and different types of competitors a company may encounter.
The document outlines an evidence-based decision making process for regional planning that involves defining problems, identifying options, implementing initiatives, and assessing impacts based on collected data and metrics. It discusses establishing criteria and standards for performance measurement as well as verifying data through consultation with experts to support decision making. The process is demonstrated through a case study examining water supply and economic development opportunities in a particular region.
The document discusses the role of SEBI as the regulator of the Indian stock market and its impact on small investors. It notes that SEBI was established in 1988 to regulate stock exchanges and protect investor interests. It aims to promote awareness among small investors and educate them. The conclusion states that SEBI performs legislative, judicial and executive functions to create accountability for small investors, and their returns ultimately depend on the economic conditions and growth of the overall economy.
Here are the key points about post-closing purchase price adjustments from the document:
- Post-closing purchase price adjustments allow the purchase price to be adjusted based on the target's financial position at closing compared to estimates made prior to closing.
- Adjustments are typically made based on working capital balances like cash, accounts receivable and accounts payable at closing relative to pre-closing estimates.
- An "Adjustment Amount" is calculated as the difference between the actual closing working capital and the estimated "Initial Working Capital" used to determine the upfront purchase price payment.
- The Adjustment Amount can increase or decrease the purchase price paid at closing depending on whether the actual closing working capital is higher or lower than the initial
NAP is an intermediate palladium producer with its primary asset being the Lac des Iles mine in Ontario, Canada. The presentation discusses NAP's investment case which includes commodity fundamentals that are positive for palladium with constrained supply and growing demand from the automotive sector. NAP is undertaking an expansion at LDI to transition it into a long-life, low cost mine with steady production growth to over 250,000 ounces per year. The expansion is on track and low risk due to NAP's experienced team and existing infrastructure.
This document discusses capital markets, portfolio analysis, and portfolio management. It provides information on:
1) The role of capital markets in facilitating capital formation and linking entities with fund deficits to those with fund surpluses.
2) What a portfolio is and the basic steps of portfolio management including setting objectives, formulating strategies, and performance evaluation.
3) Components of capital markets like the primary and secondary markets. Secondary market products include shares, bonds, and other instruments.
4) Different equity investment styles like value, growth, and momentum investing.
5) Key concepts in capital markets like book building, bid and ask prices, products traded in secondary markets, and risks.
6
Similar to Commodity Exchange to Stabilize Volatility of Prices of Ago – Products (20)
2. Philosophy first
Philosophy first
• Capitalism or Market Economy
• Laissez Faire vs Regulated
Competition
• Price Fixation vs Price Discovery
Committee of Action for Research, extension and Services, July 2012
3. Define Commodity and
Commodity Exchange
• A Commodity is a product which has a commercial value. It
can be produced, bought, sold and consumed.
• A commodities exchange is an exchange, just like any Stock
Exchange where various commodities and derivatives
products are traded. Most Commodity Exchanges across the
world trade in agricultural products and other raw materials
• To be traded on an Exchange must meet certain
specification regarding self life, quality standard, demand
and supply and some more.
Committee of Action for Research, Extension and Services, July 2012
4. Time dimension of markets
Committee of Action for Research, Extension and Services, July 2012
5. History:
History:
market isnatural development
market is a a natural
development
• First organized futures market Osaka Rice
Exchange – 1730
• First organized futures trading in US, Chicago
Board of Trade – 1848
• Standardized Futures Contract in US – 1865
• The Chicago Butter and Egg Exchange – 1898.
This Exchange evolved into Chicago
Mercantile Exchange in 1919. The number
one now.
Committee of Action for Research, extension and Services, July 2012
6. Some important
Commodity Futures Exchanges
Exchange Main Products
Chicago Board of Trade (CBOT) Wheat, Corn, Soybean, Soy Oil, Mini Gold,
Mini Silver, Live Cattle, Pork Belly, Ethanol
New York Board of Trade (NYBOT) Sugar, Cotton, Coffee, Cocoa, Orange
Juice, Ethanol
New York Mercantile Exchange (NYMEX) Light Sweet Crude Oil, Gasoline, Heating
Oil, Gold, Silver, Platinum, Palladium,
Copper, Electricity
Intercontinental Exchange Brent crude, light sweet crude, gasoline,
Natural Gas, Coal, Electricity
Bursa Malaysia Berhard Crude Palm Oil, RBD palmolein
Dubai Gold & Commodity Exchange Gold, Silver, Steel, Freight rates, Cotton
(DGCEX)
Multi Commodity Exchange, India Gold, Silver, Energy, Agricultural Products
Committee of Action for Research, Extension and Services, July 2012
7. Trading in Commodity Futures is
almost similar to trading in stocks
• Trading in Commodities and that in stocks
both require you to research the stock or
commodity that you plan to trade in and in
both cases you need to have the capital to
invest.
• In both cases, the Exchanges help to mitigate
risks of trading as they stand as surety for the
trades that take place via their Systems
Committee of Action for Research, Extension and Services, July 2012
8. The Ecosystem
Logistics Companies
USERS SUPPORT AGENCIES
Storage & Transport Requirements
Quality Certification Requirements
Farmers & Farmer
Cooperatives Public
(Hedgers) Testing & Certifying
Companies Warehouses
Investors Spot Markets Private Sector
(Speculators)
Warehousing
info
Companies
Traders Commodity Exchange
(Arbitrageurs)
Warehouse Receipt System
Commodity Information
Lending Agencies
Committee of Action for Research, extension and Services, July 2012
9. Benefits of Commodity Futures
trading
• Balanced investment portfolio management
• Transparent and fair price discovery
• Platform for risk management
• Helps to improve cropping patterns
• Assures hedgers fixed prices
• Inventory management
• Replace minimum support prices as a mean of
hedging
• Means of implementing food security
• Security against default
• Standardization of commodities
Committee of Action for Research, extension and Services, July 2012
10. Inverse relation between
commodity and stock prices
• Raw material form a key element. The
increase in raw material cost increases
overall input costs and weights down the
earning for most companies. This adversely
impacts the share price of the company.
Steel
Construction
Committee of Action for Research, Extension and Services, July 2012
11. Players in Commodity
Exchange
Committee of Action for Research, Extension and Services, July 2012
12. Farmers’ risks
• Production risk
– Adverse weather
– Pest
• Price Risk
– Domestic Demand Shock
– Too much of production
– Manipulation by middlemen
Committee of Action for Research, extension and Services, July 2012
13. Price & Sowing Decisions
Committee of Action for Research, extension and Services, July 2012
14. Trading and Settlement
6 6
SELLER Bank 1 Bank 2 BUYER
1 1
2 2
5 5
EXCHANGE
3
3 Matching Engine
4
Unmatched orders pending in the
system
Committee of Action for Research, extension and Services, July 2012
15. Delivery Mechanism
2 5
SELLER Warehouse BUYER
1 5
5
4
4
3 EXCHANGE 3
Intent 3 Matching for delivery 3 Willingness
Default X% on due date rate
6
7
7
Unmatched orders pending in the
system
Open short and long positions not
marked for delivery will be settled at
the due date rate
Committee of Action for Research, extension and Services, July 2012
16. SEC’s ( Regulator) roles:
Approve, and regulate Exchanges
Oversee the risk management
Promote the business as whole
Bring manipulation attempts to justice
Committee of Action for Research, Extension and Services, July 2012