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bimalinstitute · 4 years ago

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Successful Stock Market Investors | The Bulls Of India

Top 5 Successful Stock Market Investors

Bimal Institute Today we are going to read about top 5 successful stock market investor. They invested their money in stock and turn their capital in multiple times.

This article will tell you about best investors of India and introduce them to you. The question might be arising in our mind that who is investor?

Investor is an individual who invest their capital in share market in expectations of future return. An investment can be done in Equity, Derivatives, Commodity and forex or Debt.

5.Vijay Kedia - Market Master

As per the latest corporate shareholdings filed, Vijay Kedia publicly holds 14 stocks with a net worth of over Rs. 381.8 Cr.

Dr. Vijay Kedia is an Indian investor trader based out of Mumbai. He is involved in the market since he was 19. Kedia and his company - Kedia Securities Pvt. Ltd., is the largest shareholder (after the promoter) in several listed companies. Kedia was a keynote speaker at IIM Ahmedabad & IIM Bangalore He has also delivered a speech at the Bombay Stock Exchange. He has also spoken at TEDx Amritsar He was invited to speak at London Business School.

Major Holdings

Investment PhilosophyHe strictly adheres to SMILE as a principle in investing; which translates into Small in size, Medium in experience, large in aspiration and Extra-large in market potential. On his investment strategy, Kedia said: "One should scout for companies which have good management.

Quote

"Invest like a bull, sit like a bear and watch like an eagle".

4. Raamdeo Agrawal

According to Forbes he had a net worth of $1 billion in 2018 but dropped off their list of billionaires in 2019.

Raamdeo Agrawal is an Indian businessman, stock market investor and joint managing director of Motilal Oswal Group which he co-founded in 1987.

Agrawal pursued chartered accountancy in Mumbai and began his career as a sub-broker in 1987. He co-founded Motilal Oswal Financial Services and his family today owns about 36% of the company. In 1986, he wrote the book Corporate Numbers Game, along with co-author Ram K Piparia. He also authored the book The Art of Wealth Creation. Agrawal was awarded the Rashtriya Samman Patra by Central Board of Direct Taxes for a consistent track record of highest integrity in tax payments for a period of 5 years from FY95-FY99.

Major Holdings

3. Porinju Veliyath.

As per corporate shareholdings filed for March 31, 2019, Porinju veliyath publicly holds 10 stocks with a net worth of over Rs. 15.1 Cr.

Porinju Veliyath is Founder of Equity Intelligence. He is a Value Investor, Organic Farmer & Fund Manager.Veliyath started his career in Mumbai as a floor trader with Kotak Securities in 1990. Later he joined Parag Parikh Securities in 1994 where he worked as research analyst and fund manager until 1999, when he moved back to Kochi. In 2002 he founded Equity Intelligence, a fund management firm focused on Value Investing in Indian Equites.

Major Holdings

Qoute

"one only needs common sense to make money in stocks".

2. Radhakishan Damani

Net worth- US$15 billion (September 2020) 10,98,83,25,00,000.00 INR.

As of February 2020, Damani is the second richest person in India.

Known for founder of DMart.

Damani was reportedly the largest individual shareholder of HDFC Bank after it went public in 1995. He quit stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017. As of 21 November 2019, the market capitalization of DMart is close to ₹114,000 crore, making it the 33rd largest company listed on the Bombay Stock Exchange.

Major holding

Investment Philosophy:-

Mr. Damani's Investment Philosophy was based on the simple underlying principle of buying quality stocks at a discounted price and holding them for the long term. He believed in buying stocks that haven't been stretched in price and hence have the potential to earn big.

Quote

"Keep an eye on the long term".

1. Rakesh Jhunjhunwala

The investor at top of our list is Indian warren buffet and the Indian bull mr. rakesh jhunjhunwala.

Asset:- $2.5 billion (182,974,000,000 INR) as of 09 September 2020.

He is the 48th richest person in India.

He grew up in Mumbai, where his father worked as an income tax officer. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India. He is an Indian businessman and investor. He manages his own portfolio.

Major holding

Investment Philosophy

Rakesh Jhnunjhunwala stock picking strategy is influenced by George Soros trading strategies and Marc Faber's analysis of economic history. He endorses the rule, “the trend is your friend.” His investment philosophy says “Buy right and hold tight”.

Quote

"Invest in a business not a company".

Bimal Institute is providing one of the best online as well as classroom stock market classes in Indore. Our institute has been rated highest for share market classes in Indore.

#Successful Stock Market Investors | The Bulls Of India #Bimal Insititute #stock market classes in indore #technical analysis

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iq85 · 4 years ago

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Boiler Rooms: Eine Einführung in den Anlegerinvestmentbetrug

Ich schreibe derzeit ein Buch. Es handelt von Betrug, und ich muss dem Leser darüber erzählen, weil das Thema interessant ist.

Aber zuerst muss ich eine Einschränkung machen: Ich schreibe das Buch nicht wirklich – ich übersetze es. Es wurde von Franciscus Roest, einem niederländischen Staatsanwalt, auf Englisch geschrieben. Ich bearbeite das Buch und mache den Sachverhalt leichter verständlich, indem ich unter anderem Fallstudien hinzufüge und Fakten erkläre.

Es soll dazu dienen, deutschsprachige Ermittler und Staatsanwälte zu schulen. Denn das Problem muss zuerst begriffen werden, bevor es gelöst werden kann; und Frans Roest ist dabei wahrscheinlich weltweit der Fachmann überhaupt.

Das Buch handelt wie gesagt von Betrug, nämlich um eine ganz niederträchtige Unterart: Boiler Rooms.

Boiler Rooms sind Finanzdienstleistungs-Callcenter, die Leute anrufen und ihnen das Blaue vom Himmel versprechen oder sie bedrohen, damit man über diese sein Geld verliert. Angeboten werden am liebsten Penny Stocks, von denen man kaum etwas gehört hat, deren Kurs aber angeblich definitiv vor dem Aufstieg steht. Diese Art von Aktien sind allgemein auch als "Pink Sheets" oder "OTC Pink" bekannt und - sofern sie überhaupt vorhanden sind -, hoch spekulativ, denn sie werden nicht staatlich reguliert. Und das nutzen die Boiler Rooms aus.

Diese ziehen sie die Kunden bis weit über die Unterhose aus, nämlich so weit hinunter, bis die "Broker" dem „Kunden“ Tipps geben, wie diese sich Geld von der Bank leihen oder die Oma anpumpen können. Das Haus verkaufen und die Kinder verpfänden ist ebenfalls in Ordnung: Boiler Rooms werden „Boiler Rooms“ genannt, denn dort wird das Fleisch von den Knochen der Kunden abgekocht.

Diese Behauptung ist nicht übertrieben: Die außerhalb von Großbritannien (und Fachleuten) weitgehend unbekannte Finanzdienstwebsite thisismoney.co.uk

zitiert dazu den Betrugsexperten der Britischen Finanzaufsichtsbehörde, Tony Hetherington:

„ein Geld. Wollen Sie mir sagen, dass Sie, wenn es Ihnen wirklich gefiele, was ich zu sagen habe, nicht 5.000 bis 10.000 Pfund finden könnten, um in diese Gelegenheit zu investieren?«“,1

antwortet darauf der Telefonverkäufer, und man ist baff.

Damals, im Jahr 2008, wurde der britischen Zeitung Financial Mail von Peter und Lynne Munnion das Trainingsskript eines spanischen Boiler Rooms zugespielt.

Das Ehepaar hatte bei dem Boiler Room in Barcelona das Jobtraining absolviert, weil die beiden - so wie viele Briten -, von einem Leben unter der Sonne träumten und deshalb ihre Jobs als Putzfrau und Taxifahrer zuhause in Gosport aufgaben, um in Spanien ihr Glück zu versuchen. Doch während der Schulung wurde den beiden bewusst, dass es in dieser Firma nur ums Kunden beklauen geht, und deshalb nahmen sie ihr Trainingsskript mit und flogen damit zurück nach England. Tony Hetherington prüfte für die FCA das Skript und dabei war ihm der oben genannte Kommentar entschlüpft.2

Um auf die schlechteste Website der Welt zu kommen, muss ich den Leser noch einen Schritt tiefer in die Boiler Room-Unterwelt führen: Ich befinde mich derzeit in einem Abschnitt, in dem der organisatorische Aufbau des Boiler Rooms beschrieben wird. D.h. was für Leute da am Telefon sind und wie sie die Kunden ködern und ausschlachten. Hierbei gibt es ein 5-Phasen-Modell, d.h. fünf verschiedene Personen (-gruppen) sind daran beteiligt, den Anrufer Stück für Stück abzuziehen.

Angenommen, Sie sehen im Internet eine Investmentanzeige und geben dort zum Erhalt von Informationen Ihren Namen, Email und Telefonnummer ein. Dann ist nicht unwahrscheinlich, dass Ihre Daten früher oder später in die Hände der Boiler Rooms gelangen. Dasselbe geschieht, wenn Sie Telefonnummern bei Gewinnspielen oder bei sonst etwas hinterlassen haben, was darauf hindeutet, dass sie an Glück glauben und Geld brauchen oder umgekehrt. Und dann passiert folgendes:

Der erste Anrufer ist der „Qualifizierer“. Dieser leitet mit ihnen das Erstgespräch und prüft, ob Sie als Kunde gewonnen werden können oder nicht. Hierbei geht er kulturspezifisch vor. Skandinavier, beispielsweise, sind in der Regel ältere Personen und suchen häufig nur jemanden zu reden, sodass man sie durch freundschaftliche Anteilnahme zur Investition bewegen kann. Briten und Ozeanier dagegen glauben, dass sie die Größten sind, sodass man deren Heimatland loben und ihr Ego hochpushen muss, um den Verkauf zu forcieren. Der von Jacob Keselman angeführte ukrainische Boiler Room Milton Group schreibt dazu in seinen Trainingsunterlagen:

"Die einzige Möglichkeit, mit solchen Menschen umzugehen, besteht darin, nicht mit ihnen zu streiten, egal in welche Richtung es geht. Stattdessen muss man ihnen das Gefühl geben, dass sie intelligent sind. [...] Sprechen Sie später mit ihnen darüber, wie wichtig der Finanzmarkt durch große Länder wie Australien, Großbritannien und Neuseeland geworden ist."3

Qualifizierer ist eigentlich der härteste Job, den dieser siebt die Kunden aus. Sind Sie beispielsweise eine junge Frau, werden Sie ausgefiltert, denn diese neigen dazu, betrogen zu werden persönlich zu nehmen und nichts unversucht zu lassen, damit die Täter erwischt werden. Und Möglichkeiten gibt es viele: Junge Frau = schöne Frau = kennt Männer die ihr imponieren wollen = möglicherweise Staatsanwalt oder Berufskiller. Betrogene Männer dagegen schweigen häufig aus Scham.

Sofern der "Qualifizierer" seinen Job richtig macht und Sie nicht ausgesiebt werden, erhalten Sie schon kurz darauf den zweiten Anruf, vom „Verifizierer“. Dieser soll bestätigen, dass sich der „Qualifizierer“ nicht geirrt hat und schließt mit Ihnen das erste Geschäft ab, sofern der Qualifizierer das nicht bereits direkt getan hat. Denn interessiert ist im Zweifel jeder...

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Vor allem vor dem Alter machen die Täter keinen Halt. Der 87-jährige Weltkriegsveteran Ray Turner wurde um 75.000 Pfund betrogen:

„Ich wurde zuerst durch ihre E-Mails und dann durch ihre Telefongespräche reingezogen“, sagte er. „Sie bekamen fast alles. Sie waren skrupellos.“4

Der 75-jährige Schwede Östen Morian verlor nicht nur seine ganzen Ersparnisse, sondern verschuldete sich auf Anraten der Betrüger zusätzlich: "Ich weiß nicht, was ich tun soll. Ich warte nur noch aufs Sterben."5

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Ein bayerischer Unternehmer, der zweihundert Mitarbeiter beschäftigt, verlor fast drei Millionen Euro, ein anderer Deutscher wurde vom Wiener Boiler Room Handelfx Anfang 2020 um eine Million Euro betrogen:

"Sein Pech, dass er vier Jahre zuvor mal Glück gehabt und mit Bitcoins aus 50000 Euro 230000 gemacht hatte. 360 Prozent Gewinn! Warum sollte das nicht noch einmal klappen?"6

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Boiler Room Betrug betrifft daher nicht nur Unerfahrene, sondern kann jeden treffen. Tatsächlich mehrere Male. Und, was wichtiger ist: Es handelt sich nicht um ein öffentliches, sondern um ein persönliches Problem, was bedeutet: Die Regierungen können nicht viel tun, um Sie vor Täter zu schützen, denn die grenzüberschreitende Strafverfolgung ist schwierig und teuer: Die Betrugsmannschaften des philippinischen Boiler Room-Königs Amador Apungan Pastrana operierten 2002 aus neun Ländern als unabhängige Active Service Units und haben dabei insgesamt 6 Milliarden US-Dollar eingenommen.7 Und im Jahr 2020 versucht der ukrainische Boiler Room der Milton Group dasselbe zu tun.8 Am 4. Januar 2017 veröffentlichte die New York Times einen Artikel mit der Überschrift: "Die Betrugskultur in Indien nimmt zu und zielt auf die USA". Darin berichtete ein leitender Kriminalkommissar des Betrugsdezernat in Thane (Indien) davon, dass bei einer Razzia in einem siebenstöckigen Call-Center alle 700 Personen, die im Gebäude arbeiteten, festgenommen und verhört wurden. Am nächsten Tag wurden 630 Angestellte freigelassen, und ihre 70 Vorgesetzten und Manager in Haft behalten.

Viele Boiler Room-Beschäftigte betreiben Betrug als normale Arbeit und erhalten ein normales Gehalt, aber höhere Bonuszahlungen als üblich. Pawan Poojary und Jayesh Dubey, zwei indische Boiler Room-Trainees, die der New York Times die Informationen zugespielt haben, berichteten über ihre Kollegen, die es sich leisten können, von ihren Betrugsprovisionen ein teures Fahrrad zu kaufen. Der Rest geht nach oben, zu den Bossen.

Im indischen Ahmedabad wurden fünf Callcenter aufgespürt, die verschiedene Betrugsmethoden angewendet hatten. Sie hatten mehrere hundert Millionen Dollar Umsatz gemacht und mehr als 15.000 Mitarbeiter beschäftigt.9

Und wir sprechen nicht nur von einheimischen Tätern: Gegenwärtig sind Hunderttausende verzweifelter Rucksackreisende, Touristen und Expats aus Ost und West auf der ganzen Welt gestrandet, die in schwierigen Zeiten für ihren Lebensunterhalt sorgen müssen. Und diese Menschen sprechen perfekt Englisch, Niederländisch, Schwedisch usw. und können oder wollen aus COVID19-Gründen nicht nach Hause gehen: Verzweifelte Zeiten führen zu verzweifelten Maßnahmen - für Boiler Rooms der perfekte Rekrutierungspool.10Daher ist das Problem größer, als Sie wahrscheinlich gedacht haben: Da draußen existiert eine Industrie, die auf Sie wartet und nur ein einziges Interesse hat: Ihre Taschen auf schäbige Art komplett zu entleeren.

'Wären Sie ein gewöhnlicher Bürger, der eine Betrugsanzeige auf der örtlichen Polizeistation macht, würden Sie wahrscheinlich feststellen, dass Sie nicht viel Resonanz erhalten würden - Sie müssten schon Glück haben, wenn es eine Ermittlung gibt'.11

In der Zwischenzeit hat sich an der Gültigkeit der Aussage wenig geändert, aber die Zahl der betrügerischen Boiler Room-Fälle ist explodiert: Die Wahrscheinlichkeit eines betrügerischen Investitionsanrufs ist stark angestiegen,12

und jetzt ist dank Coronavirus - genau wie in früheren Boiler Room-Betrugshochphasen (1987, 2008) -, eine handfeste Wirtschaftskrise hinzugekommen, die eine allgemeine Verunsicherung hervorruft und viele dazu veranlasst, nach neuen Investitionen zu suchen, wobei man von Neuem erfahrungsgemäß wenig Ahnung hat - das heißt, die Boiler Rooms können den Champagner kalt stellen und auf die Zukunft anstoßen.

Am 20.06.2020 veröffentlichte Deutschlands bessere Boulevardzeitung "Focus" eine Spezialausgabe ihrer Serie "René will Rendite", die ein Videointerview mit Hans A. Bernecker enthielt. Dieser gibt seit sechzig Jahren einen "Börsenbrief" heraus, der sich bei einfachen deutschen Anlegern großer Beliebtheit erfreut.

"Kompetenz und Erfahrung liegen kurzfristig schief, aber langfristig richtig", lautet Berneckers Wahlspruch, und das ist richtig: zum Schluss hatte er immer Recht gehabt. Problem an Berneckers Prognosen war immer nur, dass sie entweder zu früh oder zu spät, selten aber zum richtigen Zeitpunkt kamen. Er trug lange Zeit "Kontraindikator" als Spitznamen, was bedeutet, dass man zur Anlagesicherheit besser das Gegenteil des von ihm Vorgeschlagenen macht. Seine "New Economy"-Kritiker hatten Anfang 2000 das Image ausgeschlachtet, aber damals lag Bernecker mit seiner Einschätzung richtig, und das hat ihn in den Augen der deutschen Masse zum "Grandseigneur der Anlageberatung" gemacht. Denn sein Stern stieg in dem Umfang auf, wie der "Dotcom-Blase" die Luft ausging. So gesehen hatte der Spekulant mit seiner "Dotcom-Spekulation" Glück gehabt.13

"Grandseigneur" klingt konservativ.

Tatsächlich ist Bernecker aber das Gegenteil, denn er glaubt an die Aktie wie der Verdurstende an einen Schluck Wasser und zieht sie anderen Finanzprodukten vor: "Zertifikate sind genial für die Banken, aber teuer für den Kunden", lautet sein Mantra dazu.14

Im Videointerview sagte Bernecker, dass am 23.03.2020 an den Aktienmärkten weltweit ein Spekulationsboom begonnen habe, bei dem augenblicklich unprofessionelle Kleinanleger reich werden, während die Profis sich zurückhalten. Das "Focus"-Interview trug dementsprechend auch die Überschrift "Börsen-Experte Bernecker: "Gerade werden die Dummies an den Börsen reich."

Bernecker sagt in seinem Interview weiter, dass man jetzt investieren und dem Trend folgen müsste. Die sich zurückhaltenden Profis lägen falsch, weil diese erstens der alten Regel "steigt der Kleinanleger ein, dann verkaufe", zweitens den Konjunktur- und Crash-Propheten der Chefvolkswirte folgen würden, die wirklichkeitsfremde Schreibtischtäter sind. "Die Börse lebt von Zuversicht und nicht von Angst", sagt er weiter, und erwähnt zuvor noch den Rückenwind, den die Börsen augenblicklich durch die Geldflut der Notenbankpressen erhielten. "Ich halte ihn für etwas zu stark und viel zu viel." Trotzdem rät er zum Kauf in der Sturmzeit, während sich professionelle Anleger weiter zurückhalten. In Fischersprache gesprochen würde das bedeuten, dass hochmoderne Fischerboote aufgrund des stürmischen Wetters im Hafen blieben, während Bernecker Hobbyangler mit ihren Ruderbooten zum Fischen in der tobenden See motiviert. Für boiler room-Crews klingt so etwas wie Musik in den Ohren.

Aber zurück zum 5-Phasen-Modell. Bislang habe ich nur 2 vorgestellt, den "Qualifier" und den "Verifier".

Der „Abkühler“ ist Ihr dritter Gesprächspartner. Dieser ist ein erfahrener Händler und sorgt dafür, dass Sie sich beruhigen, sobald bei Ihrer Investition etwas schiefzugehen beginnt, beispielsweise dass Kurse fallen oder Sie Geld ausbezahlt haben wollen. Beides sind Chancen und führen häufig dazu, dass Sie jetzt noch mehr investieren.

Falls der „Abkühler“ Sie nicht in den Griff kriegt, ruft als viertes der „Lader“ bei Ihnen an und gibt Ihnen scheinbar stichhaltige Erklärungen dafür, warum der Kurs sinkt (beispielsweise eine schlechte Bananenernte, Militärputsch im Zuliefererland oder, augenblicklich der Hit: Coronavirus). Durch ihn erhalten Sie die Gewissheit über den unvermeidlichen Wertanstieg. Und weil im Augenblick die Preise alle niedrig sind, müssen und werden Sie jetzt deshalb unbedingt nochmals ordentlich nachordern.

Der fünfte und letzte Anrufer ist der „Slopper“. Dieser kommt irgendwann in der Zukunft ins Spiel und soll die letzten Teigreste vom Schüsselrand kratzen, nachdem Sie bereits vollkommen abgezockt wurden, sich aber in der Zwischenzeit etwas erholen konnten. Der Slopper wird Ihr Retter sein, der Ihnen das gestohlene Geld wiederbringt,sei es durch einen vermeintlichen Käufer ihrer wertlosen Anteile oder neue Investitionen oder indem er bei der Finanzaufsichtsbehörde arbeitet, wobei er in allen Fällen von Ihnen vorab wieder Geld kassiert und danach abtaucht. Die Geschichten sind unterschiedlich und richten sich jeweils danach, was bei Ihnen am besten wirkt. Wichtig ist nur, dass Sie nochmals Geld ausgeben. Denn, wie gesagt: Nur Pflanzen und Tiere haben kein Geld.

Fußnoten

1 Eigene Übersetzung. Der Originaltext lautet: „Pleading poverty will be no help: 'Only plants and animals don't have money. Are you telling me that if you really loved what I have to say you couldn't find £5,000 to £10,000 to invest in this opportunity?“ (Fluendy 2008).

2 Vgl. Fluendy 2008

3 Eigene Übersetzung. Der Originaltext lautet: "The only way to Handle [sic!] such people is not to argue with them on whatever direction they take and make them feel that they are intelligent, [...]. Later talk to them about how important the financial market has become because of great countries like Australia, UK and New Zealand" (OCCRP 2020).

4 Eigene Übersetzung. Der Originaltext lautet: „I was sucked in first by their emails and then by their phone calls“, he said. „They got almost everything. They were ruthless“ (BBC News 2011).

5 Eigene Übersetzung. Der Originaltext lautet: "'I don't know what I can do,' he said. 'Wait to die only'" (OCCRP 2020).

6 Dahlkamp et al. 2020

7 Vgl. Crescini 2020

8 Vgl. OCCRP 2020

9 Vgl. Barry 2017

10 Vgl. Barnes 2017

11 Eigene Übersetzung. Der Originaltext lautet: 'If you were an ordinary member of public taking your complaint about a fraud along to your local police station, you would probably find that you would not get much response - you would have to be quite lucky to get it investigated' (vgl. Fluendy 2008).

12 Sofern man davon ausgeht, dass jeder Outbound Call Center-Mitarbeiter durchschnittlich sechzig Anrufe pro Arbeitstag macht, ist jeder elfte Call Center-Anruf betrügerisch (vgl. Pindrop 2020).

13 Vgl. Kirchner 2008: 1

14 Vgl. Kirchner 2008: 1f.

Literaturverzeichnis

Barnes, Paul (2017): ‘Stock market scams, shell companies, penny shares, boiler rooms and cold calling: U.K. Experience’, In: International Journal of Law, Crime and Justice, Vol. 48 (2017). Online verfügbar unter http://www.paulbarnes.org.uk/documents/IJLCJ_230%20(1).pdf, zuletzt geprüft am 17.06.2020.

Barry, Ellen (2017): India's Call-Center Talents Put to a Criminal Use: Swindling Americans. In: New York Times, 03.01.2017. Online verfügbar unter https://www.nytimes.com/2017/01/03/world/asia/india-call-centers-fraud-americans.html, zuletzt geprüft am 18.06.2020.

BBC News (2011): George Abrue's boiler room team convicted. In: BBC News, 22.06.2011. Online verfügbar unter https://www.bbc.com/news/uk-england-london-13880599, zuletzt geprüft am 19.06.2020.

Crescini, Dino (2008): Young Filipino is King of Boiler Room scam. News In: Philippine Tribune, 01.09.2008. Online verfügbar unter https://www.philippinesentinel.org/?p=105, zuletzt geprüft am 19.06.2020.

Dahlkamp, Jürgen; Latsch, Gunther; Schmitt, Jörg (2020): Traum-Renditen. Kriminalität. In: Der Spiegel, Nr. 21 (16.05.2020). S. 72-74.

Fluendy, Simon (2008): Script secrets of the boiler room. In: Thisismoney.co.uk, 14.09.2008. Online verfügbar unter https://www.thisismoney.co.uk/money/news/article-1641748/Script-secrets-of-the-boiler-room.html, zuletzt geprüft am 18.06.2020.

Kirchner, Christian (2008): Der Grandseigneur der Anlageberatung. Hans Bernecker. In: Handelsblatt, 06.08.2008. Online verfügbar unter https://www.handelsblatt.com/unternehmen/management/hans-bernecker-der-grandseigneur-der-anlageberatung/2999534.html, zuletzt geprüft am 21.06.2020.

OCCRP (2020): Trail of Broken Lives Leads to Kyiv Call Center. Organized Crime and Corruption Report Project, 02.03.2020. Online verfügbar unter https://www.occrp.org/en/fraud-factory/trail-of-broken-lives-leads-to-kyiv-call-center, zuletzt geprüft am 18.06.2020.

Pindrop (2020): 2020 Voice Intelligence and Security Report: Fraudsters increasingly target the Financial Industry. Pindrop Security. Online verfügbar unter https://www.pindrop.com/lp/white-papers/voice-intelligence-report-2020/, zuletzt geprüft am 19.06.2020.

#boiler room #boilerroom #boiler room fraud #boiler room scam #boilerroomfraud #boilerroomscam #frans roest #franciscus roest #investmentscam #investment scam #investmentfraud #investment fraud

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i-allianceresearch · 5 years ago

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Guide to Commodity Trading

A commodity is nothing but goods or assets that has importance in everyday life and can be exchanged for other commodities of the same type in commerce. The commodity is any sort of movable or exchangeable goods and assets except for money that can be bought and sold.

Alliance Research is share market tips and commodity tips provider in India, Which provides stock tips in various segments.

History of Commodity Trading in India

Commodity Trading has a long history tracing back more than 400 years. Osaka in Japan is known to have been trading commodity futures to trade rice. Commodity trading in India started with the formation of the Bombay Cotton Trade Association in India in 1875.

This has shaped the future of commodity trading in India with the country among growing markets in the world with around 20 exchanges trading over 40 commodities in early 2002. Nowadays commodity trading has become synonymous with derivatives seeing major volume since the turn of the century.

List of Commodity Exchanges in India

1. Multi Commodity Exchange of India Ltd

Mumbai

2003

2. National Multi Commodity Exchange

Ahmedabad

2002

3. National Commodity and Derivatives Exchange Limited (NCDEX)

Mumbai

2003

4. Universal Commodity Exchange

Gurgaon

2013

5. Indian Commodity Exchange (ICEX)

Gurgaon

2009

6. Shariah Index

Mumbai

2010

What Are The Different Types Of Commodities

Enlisted down below are the different types of commodities

Agricultural

Base Metals

Bullion

Energy

Let us discuss all of them in a little detail,

Agricultural Commodities

Agricultural commodities are those important sources of food that are required for either livestock or humans. For Instance, cardamom, cotton, crude palm oil, mentha oil, etc.

Base Metal Commodities

Base Metal commodities are those metals that are used in the manufacturing of other useful products like aluminum, aluminum minis, copper, copper minis, lead, lead minis, etc.

Bullion Commodities

Bullion Commodities include precious metals like gold and silver that are used for making jewelry. This type of commodity includes Gold, Gold Mini, Gold Guinea, Gold Petal, Gold Global, Silver Mini, Silver, Silver Micro, Silver 1000, etc.

Energy Commodities

Energy commodities include products that are used in the production of energy, like crude oil, crude oil mini, brent crude oil, and natural gas.

Best Commodity Brokers In India

Selecting the right commodity stockbroker is crucial for investment experience. And therefore we have listed down five best commodity brokers in India.

ShareKhan

Zerodha

Angel Broking

Trade Smart Online

Upstox

SAMCO

SAS Online

Kotak Securities

Motilal Oswal

R Money

Risks of Investing in Commodities

When you are trading in Commodity Futures, it takes very less amount of money to hold a very large amount of commodity with the help of margin, which can help an investor make money but he can also lose a big amount as well.

Volatility Risk

Commodity Trading in India can be one of the most volatile asset class. It is considered more volatile than bonds, equities, and even currencies. For example, In the recent ongoing Trade War, the daily the volatility of oil was around 30% while in the same period the currency market only saw volatility of 10%.

#Share market tips #Commodity tips #Stock advisory company #stock trading tips for intraday #stock trading tips provider in india #best stock future tips provider in india

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mamosefan · 7 years ago

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juudgeblog · 6 years ago

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Evolution of Securities and Investment Laws in India

This article is written by Udita Gupta, pursuing Diploma in Entrepreneurship, Administration, and Business Laws, from Lawsikho. She is a Gujarat National Law School Alumni.

It is essential for a country’s economy that its securities market have robust health. The more well developed a country’s securities market, the better are the chances of economic growth and development.

Beginning of Securities market

The earliest stock exchange was set up in Amsterdam in 1602 and it was involved in buying and selling of shares for Dutch East India Company. Prior to this, brokers existed in France dealing with government securities. It must be noted that the first real stock exchange started in Philadelphia in the United States during the late 18th century. Later, the New York Stock Exchange became popular and Wall Street became the hotspot of brokerage activities. Earlier stockbrokers were largely unorganised, but later most of them joined hands to form institutions and organisations.

click here

Security Trading in India goes back to the 18th century when East India Company began trading in loan securities.

Derivatives market have been functioning in India in some form or the other for a long time. Corporate shares with the stock of Bank and Cotton presses started being traded in the 1830s in Mumbai with Bombay Cotton Trade Association being the first to start future trading in 1875 in the arena of commodities trading and by the early 1900s, India had one of the world’s largest futures industry. Going back to 1850s the roots of stock exchanges in India sprouting when 22 stockbrokers began trading opposite the Town Hall of Bombay under a banyan tree. The tree is still present in the area and is known as Horniman Circle.

This trading continued till a shift to banyan trees at the Meadows Street Junction, which is now known as Mahatma Gandhi Road, a decade later. The shift was an ongoing one and number of brokers gradually increased finally settling in 1874 at what is known as Dalal Street. The group of 318 people came together to form “Native Shares and Stock Brokers Association” and the membership fee was Re 1. This association is now known as Bombay Stock Exchange (BSE) and in 1965 it was given permanent recognition by the Government of India under the Securities Contracts (Regulation) Act (SCRA), 1956. BSE is also the oldest stock exchange in Asia and it is been 144 years since it has been formed. Following its formation, Ahmedabad stock exchange came into operation in 1894 trading in shares of textile mills. Another development in the history of stock exchanges began with the Calcutta stock exchange opening up in 1908 and began trading shares of plantations and jute mills. It was followed by Madras Stock Exchange starting in 1920.

Post-independence Era and Reforms in the market

There were a series of reforms in the stock market between 1993 and 1996 which further lead to the development of exchange-traded equity derivatives markets in India.

There was a certain element of trading system called “badla” involving some elements of forwards trading which had been in existence for decades. This practice led to the growth of undesirable market practices and to check this development it was prohibited off and on till it was banned in 2001. In the 1980s stock broking services were restricted only to the wealthy class who could afford them. With the spread of the Internet, stock broking became accessible.

In the 1990s stock market witnessed a steady increase of stock market crises. An aspect of these crises were market manipulation on the secondary market. Following are the incidents which prompted the development of the stock market:-

1992: Harshad Mehta – The first “stock market scam” was one which involved both the GOI bond and equity markets in India. Thereafter, manipulation was based on inefficiencies in the settlement system in GOI bond market transactions. An inflation came about in the equity markets and market index went up by 143% between September 1991 and April 1992 and the amount involved in the crises was Rs 54 billion.

1994: MS Shoes – Here the dominant shareholder of the firm, took large leveraged positions through brokers at both Delhi and Bombay stock exchanges, to manipulate share prices prior to rights issue. After the share prices crashed, broker defaulted and BSE shut down for three days in a consequence.

1995: Sesa Goa – Another episode of market crises for the BSE, was the case of price manipulation of the shares of Sesa Goa. This was perpetuated by two brokers, who later failed on their margin payments on leveraged positions in the shares and the exposure was around 4.5 million.

1995: Bad deliveries of physical certificates: When anonymous trading and the nationwide settlement became the norm by the end of 1995, there was an increasing incidence of fraudulent shares being delivered into the market. It has been the expected cost of encountering fake certificates in equity settlement in India at the time was as high as 1%.

1997: CRB. C.R. Bhansali created a group of companies, called the CRB group, which was a conglomerate of finance and non-finance companies. Market manipulation was an important focus of group activities. The non-finance companies routed funds to finance companies for price manipulations. The non-finance companies were tasked with sourcing funds from external sources, using manipulated performance numbers. The CRB episode was particularly important in the way it exposed extreme failures of supervision on part of RBI and SEBI. The amount involved in the episode was Rs 7 billion.

1998: BPL, Videocon and Sterlite – This is an episode of market manipulation involving the broker that engineered the stock market bubble of 1992, Harshad Mehta. He seems to have worked on manipulating the share prices of these three companies, in collusion.

2001: Ketan Parekh. This was triggered by a fall in the prices of IT stocks globally. Ketan Parekh was seen to be a leader of the episode, with leveraged positions on set of stocks called the “K10 stocks”. There are allegations of fraud in this crisis with respect to an illegal badla market at the Calcutta Stock Exchange and banking fraud.

The above instances have had a disruptive effect on the market that is(i) pricing efficiency (ii) intermediation between households investing in shares and firms financing projects by issuing shares which was resolved by reform measures by the government.

In the post-independence era, the BSE dominated the volume of trading. However, the low level of transparency and undependable clearing and settlement systems, apart from other macro factors, increased the need for a financial market regulator, and the SEBI was born in 1988 as a non-statutory body. Later it was made a statutory body in 1992.

Thereafter, in 1952 cash settlement and options trading were prohibited by the government and derivatives trading shifted to informal forwards market. At present, the government allows for markets based pricing mechanism and shows less scepticism towards derivatives trading. The prohibition on futures trading of many commodities was lifted starting in the early 2000s and national electronic exchanges were created. In the 1980s stock broking services were used only by wealthy class who could afford them. With the rise of the Internet, stock broking services became accessible to even the common man. Major organisations became involved in stock broking activities.

Although in the wake of Harshad Mehta scam in 1992, there was a pressing need for another stock exchange large enough to compete with BSE and bring transparency to the stock market. It leads to the development of the National Stock Exchange (NSE). It was incorporated in 1992, became recognised as a stock exchange in 1993, and trading began on it in 1994. It was the first stock exchange on which trading was conducted electronically. In response to this competition, BSE also introduced an electronic trading system known as BSE Online Trading (BOLT) in 1995.

Thereafter, BSE launched its own sensitivity index, the Sensex, known at present as the S&P BSE Sensex, in 1986 with 1978-79 as the base year. This is an index of 30 companies and is a benchmark stock index, measuring the overall performance of the exchange. Equity derivatives were introduced by exchange in 2000. Index options launched in June 2001, stock options in July 2001, and stock futures in November 2001. India’s first free-float index, BSE Teck, was launched in July 2001.

Its competitor, NSE launched its benchmark exchange, the CNX Nifty, now known as Nifty 50, in 1996. It comprises of 50 stocks and functions as a performance measure of the exchange. In terms of electronic screen-based trading and derivatives, it has left behind its competitor BSE by introducing first of its kind products and services.

Stock exchanges at present

After the incorporation of BSE and NSE, 23 stock exchanges were added not including the BSE. However, at present, there are only seven recognised stock exchanges which are:-

Calcutta Stock Exchange Ltd.

Magadh Stock Exchange Ltd.

Metropolitan Stock Exchange of India Ltd.

India International Exchange (India INX)

NSE IFSC Ltd.

Thus, from the times when buyers and sellers had to assemble at stock exchanges for trading the dawn of IT has made the operations at stock exchange electronic and stock markets have become paperless. Trading facilities can be accessed from home or office on phone or Internet. Hence, with new products and services, rampant growth in stock trading can be foreseen.

The post Evolution of Securities and Investment Laws in India appeared first on iPleaders.

Evolution of Securities and Investment Laws in India syndicated from https://namechangersmumbai.wordpress.com/

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loyallogic · 6 years ago

Text

Evolution of Securities and Investment Laws in India

This article is written by Udita Gupta, pursuing Diploma in Entrepreneurship, Administration, and Business Laws, from Lawsikho. She is a Gujarat National Law School Alumni.

Beginning of Securities market

click here

Security Trading in India goes back to the 18th century when East India Company began trading in loan securities.

Post-independence Era and Reforms in the market

There were a series of reforms in the stock market between 1993 and 1996 which further lead to the development of exchange-traded equity derivatives markets in India.

Stock exchanges at present

After the incorporation of BSE and NSE, 23 stock exchanges were added not including the BSE. However, at present, there are only seven recognised stock exchanges which are:-

Calcutta Stock Exchange Ltd.

Magadh Stock Exchange Ltd.

Metropolitan Stock Exchange of India Ltd.

India International Exchange (India INX)

NSE IFSC Ltd.

The post Evolution of Securities and Investment Laws in India appeared first on iPleaders.

Evolution of Securities and Investment Laws in India published first on https://namechangers.tumblr.com/

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7consultancyblog · 5 years ago

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Real estate and infra-structure industry in India

The Indian Real estate field is one of the largest sectors in the country. The contribution of the real estate industry to India’s gross domestic product (GDP) has been estimated around 6.5 to 7 per cent and the section is expected to generate millions of jobs. Some infrastructure recruitment consultant in Bangalore are hiring candidates for this field. But the sector is facing a dip in its popularity due to stagnation or drop in prices. However job seekers are connecting with Real estate recruiting firm in India for career growth in this sector. Real estate industry in India is expected to reach US$ 1 trillion by 2030. By 2025, it will contribute 13 per cent of the India’s GDP. Real Estate stock in India is expected to reach 3.7 million square feet in 2022, with addition of 200 million square feet during the year. Exposure of nuclear families, increasing urbanization and rising household income are likely to remain the main key factor for growth in all field of real estate, including residential, commercial and retail parts. Speedy urbanization in the country is pushing the growth of real estate. More than 70 per cent of India’s GDP will be contributed by the urban areas by 2021. Indian real estate increased by 19.5 per cent CAGR from 2018 to 2028.

Real estate attracted around Rs 43,780 crore of investments in year 2019. The retail portion in Indian realty attracted private equity investments of around US$ 1 billion in 2020. Real estate attracted around US$ 14 billion of foreign private equity between 2015 and Q3 2019. First REIT raised Rs 4,750 crore (US$ 679.64 million) and was launched earlier in 2019 by the global investment sector Blackstone and realty firm Embassy group.

The importance of real estate Industry

The real estate industry is the second largest employer after agriculture and experts have stated that the sector is will rapidly grow around 20 percent over the next decade. The real estate industry include four sub sectors - housing, retail, hospitality, and commercial. For the past decades, the increasing growth of the sector is matched by the growth of the corporate environment, since there is a demand for office space as well as urban and semi-urban space. The construction industry in India ranks third among the 14 primary industry in terms of direct, indirect and induced effects in the economy. It is expected that real sector will experience more non-resident Indian (NRI) investments. The results could be short term as well as long term. Bengaluru appear to be the most recommended property investment destination for NRIs, which is followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.

As Reals Real estate and infra-structure Industry is rapidly capturing the market, students are willing to choose it as a career option. In this field Real estate recruiting firm in Bangalore helps the organization to hire qualified candidates who can convert customers into sales. Real estate recruitment consultant in India tie up with real estate industries to provide manpower. Real estate career include different post like Real Estate Investor, Real Estate Agent, Real Estate Broker, Real Estate Developer, Real Estate Wholesaler, Property Manager, Real Estate Attorney, Home Inspector, Real Estate Assistant, Real Estate Loan Officer Etc. Real estate recruitment consultant in Bangalore invites candidates as per their qualification, skills and experience. This industry prefer to recruit candidates who are self-motivated, hard-working, honest, and enjoy networking and helping people. Being part of the real estate industry can be very rewarding, but candidate need to take the right career path that suits to their prosper.

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investmentor · 2 years ago

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E-RUPEE: A REVOLUTIONARY STEP TOWARDS DIGITIZING INDIAN ECONOMY

Digital payments especially UPI usage among young population is exploding and according to latest study by Phonepe and Boston Consulting Group (BCG), “India’s digital market is expected to reach $10 trillion by 2026”.

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olko71 · 5 years ago

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New Post has been published on All about business online

New Post has been published on http://yaroreviews.info/2019/08/how-a-shadow-banking-crisis-sent-indias-autos-sector-into-a-tailspin

How a shadow banking crisis sent India's autos sector into a tailspin

MUMBAI (Reuters) – Sudhir Gharpure & his sales team sat chatting at a huge Maruti Suzuki (MRTI.NS) dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning – not a single customer was in sight.

FILE PHOTO: A worker adjusts the windscreen wipers of a parked car at a Maruti Suzuki stockyard on the outskirts of the western Indian city of Ahmedabad September 1, 2011. REUTERS/Amit Dave/File Photo

“There used to be close to 15-20 bookings each day, yet now we’re down to 3-5 on satisfactory days,” said Gharpure, the general manager at the dealership.

Gharpure’s experience is not an loney one. Across India dealerships are being pushed out of commerce & the Indian auto sector is going through its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, & in May sales dropped 20.55% – the sharpest recorded fall in 18 years.

Preliminary data indicates passenger vehicle sales may have plunged as much as 30 percent in July. The slump in India, along with a simultaneous slide in Chinese auto sales, is a blow for automakers wrestling with higher costs driven by more stringent emission norms & a push to develop electric cars.

Unlike in China, where the plunge in cars sales has been caused largely by new emissions rules, India has seen a mix of factors that have combined to erode demand for automobiles.

Prime Minister Narendra Modi’s 2016 ban on high-value bank notes, higher tax rates under a new goods & services tax regime, a boom of ride-sharing firms such as Uber & Ola, & a weak rural economy have all played a role.

But many dealers & automakers agree it is a deepening liquidity crunch among India’s shadow banks that has been the biggest single factor in an auto sales collapse, which some fear may lead to more than a million job losses.

Non-banking finance companies (NBFCs), or shadow banks, have dramatically slashed lending following the collapse of one of the biggest, IL&FS, in late 2018.

IL&FS, or Infrastructure Leasing & Financial Services Ltd, was a behemoth in shadow banking & its defaults & unraveling, amid fraud allegations, have dried up funding for rivals & led to a surge in their borrowing costs.

Non-bank or shadow banking firms generate credit external traditional lenders, by means such as collective investment vehicles, broker-dealers or funds that invest in bonds & money markets.

In India, NBFCs have in recent years helped fund nearly 55-60% of commercial vehicles both new & used, 30% of passenger cars & nearly 65% of the two-wheelers in the country, according to rating agency ICRA.

To aggravate matters, the stress in the autos market has in addition prompted banks to commence trimming their exposure to the sector.

“The car doesn’t sell, it’s the finance that sells,” said R. Vijayaraghavan, a senior marketing consultant at the same Mumbai dealership. “Today the finance is not selling, so the cars are not selling.”

PROBLEMS AMPLIFIED

Some 286 dealerships have shut down in the final 18 months across India as rising costs for stock management have made businesses unviable, according to the Federation of Automobile Dealers Association (FADA), a lobby group of auto dealers.

“The slowdown in the (NBFC) sector has dragged down vehicle sales growth,” said A.M. Karthik, financial sector head at ICRA. “Now the auto slowdown is fitting more visible as the liquidity squeeze continues.”

Automakers including Maruti Suzuki (MRTI.NS), Tata Motors (TAMO.NS), & Mahindra & Mahindra (MAHM.NS) are feeling the heat & have either cut production or temporarily closed plants to right mounting stocks.

According to FADA data, passenger vehicle inventories now stand at 50-60 days up from around 45 days earlier, while those of two-wheelers are even higher at 80-90 days. For commercial vehicles, stock levels range between 45 & 50 days.

“We are asking dealers to preserve an stock of 21 days, which is nearly half of the current levels,” said Ashish Kale, president of FADA.

At least four dealers from different brands said, however, there was little scope to reduce inventories as automakers were pushing them to buy stock despite there being no demand even with heavy discounting & other sops on offer.

While 70-75% of car sales were previously financed in-house by NBFC or bank agents sitting at a dealership, that has fallen to approximately 50%, say dealers, as buyers struggle to qualify under more stringent lending norms put in place by lenders that are under pressure to shore up their books.

Moreover, as many NBFCs typically lent to less creditworthy clients, banks are reticent to rush in to fill the void, as they themselves struggle to manage with an existing pile of approximately $150 billion in offensive loans.

“The banking sector is certainly one of the factors that has affected the growth of the industry,” said R.C. Bhargava, chair of Maruti Suzuki, noting interest rates for car buyers have gone up in the final 12 months despite the central bank cutting rates.

EARLY RECOVERY UNLIKELY

With the autos sector employing more than 35 million people directly & indirectly, & contributing more than 7% to India’s GDP & accounting for 49% of its manufacturing GDP, the fallout from the autos slump is huge & presents a huge challenge to Prime Minister Narendra Modi’s government as it begins its moment term.

The entire supply chain, from vehicle manufacturers to component makers, are bleeding amid the slump.

“I’ve been making my payments for the final 30 years & the lenders know me,” said Adarsh Gupta, the director of finance at Autolite (India), a component manufacturing firm. “But even a two-day delay has people crying that I will default.

“I too want to pay, yet because of the fall in cashflows I’m facing short-term issues & because of that it’s difficult to obtain more financing. This is the vicious cycle we are in.”

Kale, the FADA president, said on Sunday the trade body estimated that dealerships had collectively already cut around 7-8% of their workforce, or around 200,000 jobs nationwide.

“Most of the cuts which have happened are in front-end sales jobs yet whether this continues, then even the technical jobs will be affected because whether we are selling less then we will in addition service less,” he said.

Still, automakers are hopeful of a recovery in the months ahead, helped by the September-December festive season that traditionally sees a surge in consumer spending.

“One can only wish that things improve sooner rather than later. With festive demand starting to seep through, we should start seeing a gradual improvement in sales,” said P.B. Balaji, group CFO at Tata Motors.

Analysts are more skeptical though, & say without vehicle financing fitting cheaper & easier the chances for that are low. With no silver lining in sight, analysts fear offensive debts could mount in the auto sector, forcing banks to further reduce their exposure.

“We see market prices & sales coming down so there may be issues,” said a top official at the Indian Banks’ Association. “We could see a spillover in terms of offensive loans for the overall sector, yet we are going to wait & watch.”

Dealers said they were hopeful of tiding over the current downturn as the broader growth story for India remains intact, yet there could be a lot more pain before a recovery kicks in.

“The future is going to be multi-brand car showrooms,” said marketing consultant Vijayaraghavan. “That is the only way for dealerships to outlive going forward as overhead costs need to be shared.”

Additional reporting by Derek Francis in BANGALORE; & Aftab Ahmed & Aditi Shah in NEW DELHI; Editing by Euan Rocha & Alex Richardson

Our Standards:The Thomson Reuters Trust Principles.

#affiiate marketing #article marketing #business online #businessNews #internet marketing #make money online #mobile marketing #video marketing #web marketing

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customercarenum-blog · 7 years ago

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Find Angel Broking Customer Care Number, Email, Chat Here

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Number: (080) 3941 3940/4143 2900

Cochin, Kerala

Address: 40 / 1045, F1-4, 4th Floor, Amritaa Towers, Opp. Maharaja’s Ground, M. G. Road, Cochin, Kerala – 682 011.

Number: (0484) 3941 394/3985200

Indore, MadhyaPradesh

Address: UG – 16 Commerce House , Race Course Road , Janjeer wala Square , Indore – 452002

Number: (0731) 4232100 / (0731) 3092100 , 9826311186

Pune, Maharashtra

Address: 2nd Floor, Dealing Chambers, Above Portico Restaurant, J.M. Road, Pune – 411 005.

Number: (020) 3941 3940/30710 250

Chandigarh

Address: SCO 98, Sector 44C, Chandigarh – 160 047

Number: (0172) 3092 700

Jalandhar, Punjab

Address: 25 Govind Mall, 1st flr, Opp. King Hotel, G. T. Road, Jalandhar – 144 001

Number: (0181) 4686 100 / 102

Jaipur, Rajasthan

Address: 373/1, IInd Floor, RR Chamber, Near Raja Sahab Showroom, Rajapark, Jaipur-302004

Number: 0141-3057900, 9887766855

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For Service Request/Queries: [email protected]

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Angel Broking Offices details

For the ease and comfort of customers, we have brought up Angel Broking Offices details of Registered Office address as well as Corporate Office details address. Customers you can also reach at the office of company.

Registered Office Address

Address: G-1, Ackruti Trade Center, Road No-7, MIDC, Andheri(E),Mumbai-400 093

Contact Number: (022) 4231 9600 to 699 / (022) 3083 7700

Corporate Office details

Address: 6th Floor, Ackruti Star, Central Road – MIDC, Andheri (E), Mumbai-400 093

Contact Number: (022) 4218 5400 to 499 / 4000 3600

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neodevelopers · 8 years ago

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The note ban may have brought real estate developers to their knees, but house hunters are looking on keenly from the sidelines. In October 2016, a Mumbai builder who runs a business worth roughly `500 crores was compelled to sell 1 lakh square feet of an upcoming residential project in the western suburb of Kandivali at `6,500 per sq ft when the going rate was around double that. To add to his woes, the broker in the middle charged a hefty 7% commission, or `5 crores, for arranging the `65 crore deal. “The builder’s profit was even lower than the brokerage he paid,“ recounts another developer, a friend of the `shortchanged’ builder. “It’s better to be a broker than a small developer,“ he adds as an afterthought. Broking firms, and not developers, grease the squeaking wheels of the construction business in Indian metros. In a market in which buyers are scarce and supply of under construction spaces is abundant, middlemen rule the roost, often arm-twisting cash-strapped developers to sell out cheap.

Till about a few months ago, developers did not solicit the help of brokers to sell projects as buyers showed renewed interest to own property across Indian cities. But the tables turned when the government announced its decision to ban `500 and `1,000 notes in the first week of November. It has been a grind ever since.

Developers are being forced to offer 5-7% as commission to offload inventory -which has swelled to over 6.71 lakh unsold units (across eight cities) in the second half of 2016. Consultants like Knight Frank not only count ready-to-move-in units as unsold units but also commissioned projects that are pre-sold to buyers before completion. The likes of Mumbai, Delhi (NCR), Pune and Chennai may show a dip in unsold units, but that’s more a numerical mirage (See graphic).

“The dip in (unsold units) numbers is not because of actual sales but because of the fewer number of new launches. Builders have stopped announcing new projects lately,“ explains Samantak Das, chief economist and national director (research), Knight Frank. “It may take two to three years for developers to offload their full stock. In markets like Delhi NCR, where there’s mass supply of residential units, it may cross four years.“

This is where brokers come into play.The canny ones are wheedling high net worth individuals (HNIs) and non-resident Indians (NRIs) to buy projects of small, capital-starved builders at prices almost 50% of the market rate.

The Faultlines

The year 2016 began well for the top residential markets (Mumbai, Delhi-NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, and Ahmedabad); sales volumes grew by 7% in the first half, as per data sourced from Knight Frank.

Factors such as probable interest rate cuts, political stability, economic growth, setting up of real estate regulators across states and imminent goods and service tax augured well for the sector -at least from a buyers’ point of view.

Analysts and builders viewed this phase as the turning point of the real estate sector, which had not fully recovered from the global financial meltdown of 2008 and 2009; and, more importantly, since the lending restrictions (on real estate developers) imposed by the RBI on banks in early-2015.

Optimism sustained in the second half of 2016 too, with sales numbers between July and October averaging better than the previous ten quarters. Things looked good and rosy till the time government announced its demonetization plans.

“Real estate sales dropped 40-44% across Indian cities post demonetisation. The fall was such that it brought down the yearly (2016) averages to below 2015 which, again, was not a great year for real estate. The year ended with sales lower than in the past six years,“ analyses Das of Knight Frank.

It’s not only sales of ongoing projects that have been affected. Builders have applied the brakes on new launches as they wrestle with uncertainties around latent demand, economic effects of demonetization, implementation of Rea l Estate ( Regulation and Development) Act or RERA and probabilities of further rate cuts.

New residential project launches across eight key markets have fallen close to 28% in 2016, over a year ago, to 1.75 lakh units.There was 4.58 lakh new launches in 2012 considered the best by far.

“Real estate sector has weakened even further post-demonetisation… Demand for new projects is also not very encouraging,“ admits Adi Godrej, chairman of Godrej Group, which owns Godrej Properties. “But we expect this to be more of a temporary blip… demand will pick up in a few months,“ he believes.

Established builders like Godrej and Niranjan Hiranandani, chairman of Hiranandani Group, are not worried about the build-up in unsold inventory or lower number of new launches. Lower rates and setting up of RERA will embolden prospective customers to get off the fence and buy properties, they feel.

“There’s demand for affordable ready-to-move-in units,“ feels Hiranandani. “But there are not many buyers for under construction projects as of now… Project level booking has come down drastically post demonetisation, but that’s more psychological… People are simply deferring their decision to buy an apartment to a later date,“ he says.

But such assurances are pretty unconvincing if one glances through actual residential property sales data.

In 2012, over 3.59 lakh units were sold across eight Indian cities; this has fallen consistently over the next four years, hitting almost rock bottom in 2016 at 2.44 lakh units a long term sales erosion of over 32%.

Builders are putting up a stoic front.“We’re already seeing some revival in January. Demand is coming back gradually. Indians are value-seekers…and this definitely is their market,“ says Cyrus Engineer, chief sales & marketing officer, SP Real Estate, a Shapoorji Pallonji Group company. “We’re cautiously optimistic about the sector.There’s a lot coming en route… RERA, GST… There could be some chaos when RERA is getting implemented,“ adds Engineer. “Uncertainty will last for another six months. But I am positive about long-term prospects of the sector.“

What Buyers Want

Home-buyers, on their part, are waiting for rate cuts before firming up their purchase plans. If bankers are to be believed, there could be at least 50 bps (one basis point or bps is equivalent to 0.01%) cut in rates over the next year. This may bring down home loan rates to as low as 8.25% (2007-08 levels); competitive, cash-flushed banks may start offering loans at even lower rates. It’s anybody’s guess if loan rates would touch 7.25%, the level of 200304. Potential customers are also hoping property prices to correct in the interim. But that’s unlikely, says builders and sector analysts.

The sector has already undergone a “time correction“, wherein prices have remained stagnant for years together.Since 2013, real estate price inflation has matched the pace of general retail inflation which is mostly in single digits.

“Property prices don’t come off overnight, the only number of transactions falls,“ opines Sharad Mittal, director & head of Motilal Oswal Real Estate Fund, which manages over Rs 1,500 crore across three real estate funds.

“It’s mostly a time correction and not really a price cut. But there could be some level of price correction in high-end property and plots. But that again would be very negligible,“ says Mittal.

Contrarily, a few developers such as Hiranandani expect prices to inch up a wee bit once RERA comes to the fore. The Higher cost of compliance, title insurance, `escrowing’ incoming funds (from home buyers) and defect liability clauses are likely to jack up prices post the installation of real estate regulators.

Also, in metros, developers buy land parcels from institutions (and not individuals). Such land acquisitions are “all white dealings“, with no room for “underbilling“ or covering up the purchase price to skirt transaction taxes.

“Builders may not give discounts as they’ll be worried about taxmen. By lowering costs, developers may send wrong signals to the tax department that they’re collecting the reduced amount of cash,“ says Hiranandani.

The sector is moving gradually towards only-cheque payments, thanks to the stringent inspection of builder-to-buyer deals by the tax department. Lesser use of cash could well ring the death knell for developers with dubious track records.

“Absence of cash may hit local builders in smaller cities hard. Cities like Surat and Rajkot use 50 60% cash in their property transactions… Builders in these cities are in for hard times,“ says Shashi Kumar, executive director, Ornate Spaces, a Mumbai builder.

“In cities and metros, only builders with good institutional backing would survive in the long term. We’ll see a lot of industry level consolidation soon,“ envisages Shashi Kumar.

Source: https://goo.gl/AMuuwL

Far From Realty The note ban may have brought real estate developers to their knees, but house hunters are looking on keenly from the sidelines.

#real estate developers #real estate regulators #Real estate sales #real estate sector #RERA #residential property sales

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