Category Archives: Commodity Trading

Gujarat NRE Coke to issue shares to ICICI Bank under Private Placement for Debt Restructuring

Gujarat NRE Coke Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2014, inter alia, has decided as follows:

1. To seek authority from the shareholders under the provisions of Sections 180(1)(c), 180(1)(a) and 181 of the Companies Act 2013.

2. To issue 1,21,61,222 Equity Shares to ICICI Bank Ltd under Private Placement basis in accordance with the terms and conditions of letter of Approval dated March 22, 2014 as issued by Corporate Debt Restructuring Empowered Group and as per Section 42 and other provisions of Companies Act 2013 as well as Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 [ICDR Regulations] subject to the approval of shareholders. Continue reading Gujarat NRE Coke to issue shares to ICICI Bank under Private Placement for Debt Restructuring

Iran Oil Deal

On 24 Nov 2013, Iran, USA and five other countries struck a deal aimed at curbing Iran’s nuclear programme in exchange for an easing of the sanctions against Iran. This may have significant implications for India which was Iran’s second-largest importer of oil. The easing of sanctions against Iran should result in lower oil prices, which will benefit India. However, as global demand for Iranian oil increases, Iran will become less dependent on India, and may stop accepting Indian rupees as part payment for oil and may favor trade with countries paying fully in US dollars.

Jesse Livermore

Interview with Jesse Livermore by Edwin Lefevre in 1925. The interview is loaded with valuable lessons for traders and investors across markets. Worth reading and re-reading.
————————————————————————–
Lefevre: Hello Mr. Livermore. Thank you for taking the time to conduct this interview with me. It is my understanding that you do not grant many interviews, so I am honored.

Livermore: You are very welcome. I appreciate the respect but you don’t have to address me as Mr.Livermore. Jesse, or my nickname, the boy plunger, will suffice.

Lefevre: And where did you get the name boy plunger?

Livermore: It was during the early days when I was trading small lots in the bucket shops, where the man who traded in twenty shares at a clip was suspected of being J.P. Morgan traveling incognito. I didn’t have a following. I kept my business to myself. As it was, it did not take long for the bucket shops to get sore on me for beating them. I’d walk in and plank down my margin, but they’d look at it without making a move to grab it. They’d say nothing doing. That is when they started calling me the boy plunger. I had to move from shop to shop, even to the point of changing my name. I couldn’t put trades on without getting cheated on the quotes. This was in Boston, so I then moved to where the real action was, to New York. I was 21 at the time. Continue reading Jesse Livermore