Saturday 28 October 2017

Aramco Listing

Investopedia defines Initial Public Offering as “An initial public offering (IPO) is the first time that the stock of a private company is offered to the public. IPOs are often issued by smaller, younger companies seeking capital to expand, but they can also be done by large privately owned companies looking to become publicly traded.”.

Aramco has decided to go for IPO (valuation is assumed to be around USD 2 Trillion).

Offering Aramco shares is like i am offering part of my revenue stream (i.e. Income) for listing.  Why Should I do so?

I will do it because i know there is going to be an end in my revenue stream as i am 73 years old.

Aramco according to their website “Saudi Aramco is the state-owned oil company of the Kingdom of Saudi Arabia. We are the world’s top exporter of crude oil and natural gas liquids.”.

The obvious question, Aramco is not a small company seeking capital to expand. One of the reasons for sale of shares is attributed in “the Interest of more transparency” according to Prince Salman.

Is Aramco listing because?

Oil is no more going to be the controlling factor over world economy in coming decades.
Growth of Electric Vehicles.
Better to cash out.

Reference:

Forgotten Saints

History books should teach something about everything. It is then that students can pursue any one line of thought.

India is a land of spiritual masters. Few minutes back I happened to know about a great saint “Baba Farid”. The chance encounter of knowing this name was its appearance on a Hindu Wedding Card.

Baba Farid is well known in Punjabi Literature.

134 hymns of Baba Farid is part of the Guru Granth Sahib. One of the works of Baba Farid is presented below:

“The day of the bride’s wedding is pre-ordained.
On that day, the Messenger of Death, of whom she had only heard, comes and shows its face.
It breaks the bones of the body and pulls the helpless soul out.
That pre-ordained time of marriage cannot be avoided. Explain this to your soul.
The soul is the bride, and death is the groom. He will marry her and take her away.
After the body sends her away with its own hands, whose neck will it embrace?
The bridge to hell is narrower than a hair; haven’t you heard of it with your ears?
Fareed, the call has come; be careful now - don’t let you be robbed.”

Another spiritual master unheard of by an average Indian is Hazrat Babajan (Died on 21st September 1931 around 125 years of age).
The unbelievable part of Hazrat Babajan was her travel undertaken when she was around 18 years of age (we are talking of early 19th century). She travelled all the way from Afghanishtan to Peshawar to Rawalpandi to India. It is assumed Hazrat Babajan left her mortal body in Pune after a spiritual stay of around 25 years.
It is believed that Meher Baba was initiated by Hazrat Babajan.
The sad part we have never heard about these great saints from anyone nor taught to us in history class.
As a mark of respect to another Great Sufi Saint Hafez (1315 – 1390). I will share here one of his poetry on Perfect Equanimity. I think we are living in times when we the Pretenders are surrounded by Pretenders:
Perfect Equanimity
Look how a mirror
will reflect with perfect equanimity
all actions
before
it.
There is no act in this world
that will ever cause the mirror to look away.
There is no act in this world that will
ever make the mirror
say ‘no.’
The mirror, like perfect love, will just keep giving
of itself to all
before
it.
How did the mirror ever get like that, so polite,
so grand, so compassionate?
It watched God.
Yes, the mirror remembers the Beloved
looking into itself as the Beloved shaped existence’s heart
and the mirror’s
soul.
My eye has the nature of God.
Hafiz looks upon all with perfect equanimity,
as do my words,
dear.
My poems will never tell you no,
because the Mirror is
not like
that,
and if God ever hits you with a don’t -
He has His fingers crossed,
He is just fibbing
for your own
good.
From: Love Poems From God by Daniel Ladinsky

References:

Tuesday 10 October 2017

A Vigilant Investor

It is not surprising that Bombay Stock Exchange (BSE) received an important notice about a Stock and on disseminating it stock reacted immediately with an upper circuit. 

However, the news was already published in newspaper a day before.

This is about Adani Transmission Ltd (BSE Code: 539254).
I will reproduce the words appearing in the BSE Website, Adani Transmission, with exchange dissemination time:
“Exchange Received Time 10/10/2017 10:09:58
Exchange Disseminated Time   10/10/2017 10:10:05 Time Taken 00:00:07
Submission of Media Release relating to entering into a period of Exclusivity with Reliance Infrastructure Limited (RInfra) until January 15, 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai City from RInfra.
On 10:09 a.m the price was Rs.181.00 by 10:12 a.m. the stock hit upper circuit Rs.193.15.
Business Line newspaper (online dated October 09, 2017) reported the following (select portion from the online news is presented below):
MUMBAI, OCTOBER 9: Anil Ambani-led Reliance Infrastructure Ltd (RInfra) has announced transferring its Western Region System Strengthening Scheme (WRSSS) transmission undertakings to its two subsidiaries as part of the process to sell the businesses to Adani Transmission Limited.
RInfra and Adani Transmission have signed a binding termsheet agreement for RInfra’s three operational transmission projects —WRSSS B, WRSSS C and Parbati Koldam Transmission Company Limited (PKTCL), which is a joint venture company of RInfra and Power Grid Corporation of India (each having 74 per cent and 26 per cent equity respectively) in 2016.
Under this transaction, Adani Transmission would acquire 100 per cent ownership in WRSSS B & C and 74% ownership in PKTCL. WRSSS B & C transmission projects and stake in PKTCL …...
Post reading the news in Business Line (assuming news was published post exchange closing hours) next morning i.e. 10th October 2017 at 9.15 a.m. Adani Transmission should have hit upper circuit.
However, the curious aspect, information was already intimated to BSE by Reliance Infrastructure Limited (BSE Code : 500390) on October 09, 2017 at Exchange Received Time 09/10/2017 14:49:56 Exchange Disseminated Time 09/10/2017 14:50:00.
It appears Adani Transmission Ltd intimated the news late to BSE.
Will BSE officials take cognizant of it and take action on Adani Transmission Ltd for not submitting news on the same day itself. 
A vigilant investor / the reporter / Reliance Infra shareholder could have purchased Adani Transmission Ltd on October 09,2017 at 3.00 p.m. when the rate was Rs.174.25 and enjoyed a 10% return on next day.
Reference:

Tuesday 3 October 2017

Reporting - Alternative Media

As an ordinary citizen I believed media is not sharing the right narrative. It is an accommodating one where select few decide what we want to see / hear.

This was rightly stated by Doordarshan newsreader Ms Ravindran “But I don’t enjoy watching the news as much. I understand the competition is tremendous. But why should it lead to aggression? At the moment there seems to be a war going on between channels and as a viewer I don’t think I’m interested in that. I just want to see what’s going on in the world.

Somehow I believe today alternative media helps to communicate the manipulation carried out. It is commendable that this was correctly shared by Ms Shefali Vaidya and Ms Shubhrastha.

I think today we need to switch to alternative media like blogs, YouTube videos etc. to search the truth ourselves. 

Let’s search truth, read and share it. Free ourselves from the few self proclaimed owners of news / facts.

YouTube links:






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