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deepinsight
Senior Member
Joined: 18/Sep/2006
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Posts: 980
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   Posted: 30/Nov/2006 at 1:57am |
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Date:01/12/2006 URL: http://www.thehindubusinessline.com/2006/12/01/stories/2006120104581400.htm
Financial Tech gets nod to set up Global Board of Trade
Our Bureau
Mumbai , Nov. 30
Financial Technologies Ltd (FTL), the promoter of Multi Commodity Exchange, has received in-principle approval from the Financial Services Commission, Mauritius, for setting up an international multi commodity exchange styled Global Board of Trade (GBOT).
Mauritius being a free economy, the proposed exchange will reach the entire pan-African region.
Investment details were not immediately available. However, FTL will hold majority stake and will be inviting global partners as stakeholders in the venture.
Commenting on the deal, the CEO of FTL, Mr Jignesh Shah, in a press statement said "This initiative is unique as it will be a modern international commodity exchange offering innovative products."
Mauritius in the midst of economic reforms plans to develop GBOT as the new generation electronic marketplace for multiple commodity contracts.
© Copyright 2000 - 2006 The Hindu Business Line |
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"Investing is simple, but not easy." - Warren Buffet
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catchsudipto
Senior Member
Joined: 06/Sep/2006
Location: India
Online Status: Offline
Posts: 641
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Posted: 20/Dec/2006 at 9:29am |
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Dear Sir,
I saw a report apearing in Telegraph that Indian government is going to
ban future trading in food grains, grams, cereals, sugar. They had set
up a commitee some 5 months back to check whether forward trading
is really helping the farmers. The commitee headed by Mr
Devendra yadav of RJD noted that its not really helping the
farmers. So the commitee have recomemded to stop forward trading
in all agricultural products. But commitee has suggested to
allow forward trading in all non-agricultural
products.
Mr Priya ranjan dasmunsi told that the bill will be passed in the
nest session of the Parliament. In 2003 NDA had allowed the forward
trading, and now UPA wants to reverse it.
SIR I have FT in my portfolio. What to do? Sell or Hold. I am a bit
tensed now. as i am not able to judge the effect of this ban, moreover
the sentiment on FT after this BAN. Pl help.
thanks
sudipto
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Make your Life as simple as possible.
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basant
Admin Group
Joined: 01/Jan/2006
Location: India
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Posts: 18403
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Posted: 20/Dec/2006 at 9:41am |
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These are gimmicks. We cannot ban trading for ever also MCX is more into bullion and NCDEX is into commodities.WOuld not advise you into selling based on this news. On the other hand if price of FT drops it could become atrractive.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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catchsudipto
Senior Member
Joined: 06/Sep/2006
Location: India
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Posts: 641
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Posted: 20/Dec/2006 at 9:58am |
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Dear Sir,
Thanks for the reply and suggestion. As i am fully invested even if
FT falls i willnot be in a position to buy it a t the lower end.
Now my portfolio is nearly evenly distributed 20% to 25% in four
stocks. Pantaloon, FT, Tv-18 and Educom and some HDFC and HDFC bank.
Can u suggest from which one of the three i will shift if FT
drops.
Thanks again for the encouraging words.
sudipto
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Make your Life as simple as possible.
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RAKESH
Groupie
Joined: 17/Aug/2006
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Posts: 93
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Posted: 20/Dec/2006 at 10:12am |
basantji
at wat rate one should enter this stock
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basant
Admin Group
Joined: 01/Jan/2006
Location: India
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Posted: 20/Dec/2006 at 10:14am |
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You may shift out of Educomp. I am getting uncomfortable with the way this stock goes up. Now if the EPS does not increase then Educomp could be in trouble. I am told one particular fund wants to buy it at any cost. FOr the time being it is a hold though.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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RAKESH
Groupie
Joined: 17/Aug/2006
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Posts: 93
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Posted: 20/Dec/2006 at 10:19am |
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sir should i buy financial technolgy at this rate
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PrashantS
Senior Member
Joined: 14/Oct/2006
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Posts: 1294
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Posted: 20/Dec/2006 at 10:22am |
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which fund is that.......Educomp is going at crazy levels........
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