Two way authentication by Reliance Money ?

Reliance Money, the retail stock broking arm of Anil Ambani group is planning for a two way authentication process of its customers to login to the portal.

What is two way authentication ?
1. Normal Login & Password.
2. Additionally, Reliance Money will provide a device which will generate a password and that has to be keyed into the login page within 20 seconds. You have to carry this device always with you.

Now, wait a minute why do we require such 2 way authentication mechanism ? Aren’t other broking houses providing services without it ? Such high security systems are usually implemented by corporates who have access to highly confidential and sensitive data.

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Citigroup bullish on Aban Offshore and Maruti

We had already put a BUY recommendation of Aban Offshore when the price was Rs 1080 and it reached Rs 1700. Citigroup in its research report has put a similar target of Rs 1700 due to Aban’s bid for Sinvest.

Maruti reported stronger than expected sales in Dec-2006. Citi has revised its 12-month targetto Rs1,107 is based on 15x P/CEPS FY08E. Citi expects the cash earnings CAGR of c19.5% for FY06-08E. Maruti is now well positioned to emerge as Suzuki’s regional manufacturing hub over the longer term, which we view as a significantly positive because it would enable MUL to reduce its dependence on the local market.

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Forthcoming Indian IPOs – Jan-2007

Here is a list of IPOs that will hit the Indian Market in Jan-2007.

1 Cambridge Technology Enterprises Ltd
2 Autoline Industries Limited
3 Global Broadcast News Limited (CNN IBN)
4 House of Pearl Fashions Limited
5 Pochiraju Industries Limited
6 Akruti Nirman Limited
7 Technocraft Industries (India) Limited
8 Abhishek Mills Limited
9 Cinemax India Limited
10 Jas Toll Company Limited
11 Mudra Lifestyle Limited
12 Orbit Corporation Limited
13 Hilton Metal Forging Limited
14 SVP Industries Limited
15 Suryachakra Power Corporation Limited
16 Binani Cement Limited
17 Idea Cellular Limited
18 Power Finance Corporation Limited
19 Indian Bank
20 Vijayeswari Textiles Limited
21 First Source Solutions Limited

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Intime Spectrum the worst IPO Registrar

You all know by now that Intime Spectrum is the worst registrar in the Indian IPO market. Intime Spectrum never respond to any e-mails / fax and their phone lines are always busy.

Some small investor friendly person filed a petition against Intime Spectrum Ltd and has suspended all their activities by a ruling of Kolkatta High Court. Thank God, no more IPO issues to be handled by Intime Spectrum from now. Hopefully the SEBI will wake up now.

Troubled and Undersubscribed, Cairn India Ltd IPO is now handled by Big Share Registry India Ltd.

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Indian Mutual Fund Investors must get MIN

Indian Mutual Fund investors who invest more than Rs 50,000 in one go are now expected to get a MIN – Mutual Fund Identification Number without which he will not be able to invest from Jan-01-2007. Regulators want to know more about funds and investors under the “Know Your Customer – KYC” policy such that their is no illgeal channels of fund flows into the country.

A P Kurian, Chairman of AMFI explains the need for MIN in the following video,

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