Subscribe to:
Post Comments (Atom)
About Me
Blog Archive
-
►
2019
(1)
- ► 06/02 - 06/09 (1)
-
►
2015
(1)
- ► 06/21 - 06/28 (1)
-
►
2013
(1)
- ► 12/29 - 01/05 (1)
-
►
2010
(3)
- ► 12/26 - 01/02 (1)
- ► 09/05 - 09/12 (1)
- ► 08/01 - 08/08 (1)
-
►
2009
(5)
- ► 09/27 - 10/04 (2)
- ► 02/15 - 02/22 (1)
- ► 01/11 - 01/18 (1)
- ► 01/04 - 01/11 (1)
-
►
2008
(1)
- ► 11/02 - 11/09 (1)
-
►
2005
(1)
- ► 09/25 - 10/02 (1)
suprabhatam rakeshbhai and folks..
ReplyDeleteusing first come first serve...
aaj khaane mein kya hai... :)
Suprabhatam! Khane mein daal-roti our staple food. :)
DeleteGood afternoon Rajeev and Rakesh!
DeleteApna bhi daal-roti ghar ka khana hi hai.
Uma
Good Afternoon! Hope you are getting your full quota of rains in Pune. Rajeev and I get so much that there is always surplus available for export. :)
DeleteIf you have more than 1.5 lac in State bank or its subsidiaries, pay heed. Today I found out something new from State Bank. Now it is not enough to submit 15G/ 15H form once a year for preventing TDS deduction. Now we have to submit new 15G/H form every time the FD gets renewed or when new FD is made. This has already been implemented in the SBI Bank software.
DeleteI found out the hard way after TDS got debited even tho I had submitted the form. Income tax dept has released the orders but all banks are not debiting yet.
Rakesh, yes we got normal monsoon in Pune so far. At least we're not getting water from borewell/ tanker anymore.
DeleteExport ka maal is always better than local maal...So please keep sending... !!
Happy Diwali @Rajeev and Tommy! I tried to find a comment box on your page but can't
DeleteMaybe Rajeev pre-empted Tommy's barking away the visitors. :D
DeleteHow was your trading today?
ReplyDeleteUma
Photo is very beautiful...Maybe some day will get the chance to visit
ReplyDeletePic stolen from a friend's mobile, he visited last year I think.
DeleteAaj kal phir construction wale share teji me hain. Rupee is repeatedly touching 67 and recoiling...maybe market will maro another dive to below 6800 levels.
ReplyDeleteGanesh Chaturthi market closed...Hope you're having a lovely day. Monsoon is over here. I guess winter has arrived. Last year we had no monsoon and a hot winter.
ReplyDeleteuma u mean, last year seasons had gone on vacation.. :D
ReplyDeleteLOL true. Seasons had gone on vacation
DeleteUma
Monsoon is in no hurry to leave Dehradun! Last night I waded on bike thru six inches of water flowing on the raods looking like a turbulent river. :D
ReplyDeleteWow...Bike water rafting XD Glad you made it across safely.
DeleteNifty maroed nose-dive!
ReplyDeleteUma
I'm posting just because this board is there. Some people climb Mt Everest just because it's there.
ReplyDeletelol. So Ann Writes Everest is full name!
DeleteHow is weather in Pune? A little bit of chill in the night air in Dehradun.
Yes, and my Everest is your blog :)) Dehradun must be gorgeous in fall colours! We too have a bit of a chill. Not much today, but a few days ago I was wearing a light sweater even during the day. My parents thought it was funny because they didn't feel cold at all :D
DeleteHi Rakesh! Did you try the reliance jio service? I got a reliance jio connection on 13th Oct! It's good so far, much better than Airtel. It's supposed to be free till 31 Dec. Since I didn't have a smartphone and my router is CDMA, I bought a Jio phone and it's the worst phone ever. When I bought it I noticed prob in camera, they replaced the piece but same problem in the new handset. Now one of the sim slots is not working...barely been one week. I think this phone is designed to last only for the duration of the free trial offer. I bought the Lyf Fire 7 for Rs 3500.
ReplyDeleteThe limit is 3 GB per day. Airtel gave me 5GB per mo and charged Rs 869 per month!
ReplyDeleteI was resisting buying a smartphone because of the tiny screen. I've already been diagnosed with glaucoma.
ReplyDeleteSo far I'd say the best part about it is google text-to-speech, which reads out my kindle books for me. I really like the American voice. I like it better than audiobooks because of the clarity. I 'read ' two kindle books per day. I have a kindle unlimited subscription so there's a lot of material to read.
I bought Jio LYF Wind 4 in June itself when they launched limited services in dehradun. It gave splendid bandwidth for 3 months! But bandwidth is erratic now that it has been launched all over India. :)
ReplyDeletePhone is pretty decent. I have never used the camera - basically i am using the phone as a hotspot and the fully charged battery lasts for almost 15-16 hours a day with hot-spot on.
At that time the phone price was about 7K, but cell phone prices are like stock prices in a permanent bear market - always coming down. :D
Wow! Back in June I didn't even know of this. I wish I did. I still get good speeds in Pune.
DeleteLOL great observation about the permabear market in cellphones! What we needed even more was a bear market in bandwidth! Now bada bhai has ushered it in. Luckily you had explained the diff between bada bhai's telecom company and chhota bhai's company. I find bada bhai easier to trust, so I decided to try it :)
DeleteIt seems that Mistry got kicked out of tata Group what did he do? He was heading tata motors and tata steel, right?
DeleteTataSteel doob gaya. Kya kiya us nikamme ne?
ReplyDeleteYesterday someone was on moneycontrol giving target of Rs 600 for tatasteel. I replied that book value is 400, company is making loss don't expect too much. Well, I should have followed my own advice and sold as it was trading over 420. 420 being such a magical level. But as a "long term investor" I'm holding on to the last 100 shares for better or worse.
I'm really siding with Mistry after reading his letters. He could have made tata Motors profitable. But Ratan Tata has run the company too long to adapt to a different style of management....
ReplyDeleteI don't think Tata Steel has many writedowns to face. It has faced the worst of ratan tata's poor business skills with the CORUS acquisition and last quarter the European biz actually turned a profit. Chances are, European biz is not as worthless as it's made out to be.
ReplyDeleteHappy Diwali! :))
ReplyDeleteHappy Diwali Uma!
ReplyDeletena rmbhai, jaggubhai is omnipresent.. happy diwali to u all and also to uma :)
ReplyDeleteHappy Diwali Jaggubhai, copy to Tommy! :)
DeleteHappy Diwali Rajeev! Same to our Tommy. ~ Uma
DeleteHi RM,
ReplyDeleteBelated Diwali wishes to you, your family, Uma and Rajeev. Wish you all success and happiness.
DM
How are you guys coping with demonetization? I stood in Q for 3 hrs to get some cash and my dad also stood in Q for 4 hrs...I went right after banks opened after the announcement. My dad went on 3rd day. Got all the old notes deposited. Now it's just a matter of finding the shops which accept debit card XD Even the tiniest grocer now swipes your card.
ReplyDeleteGood Morning! Not much difficulty so far, withdrawing with cheque is easy in private banks. Also no cash needed for groceries etc., only milk, bread, vegetable need cash. Planning to pay to Milk guy by cheque next month and buy veg from big bazaar on card.
DeleteOut here banks and ATMs are usually out of cash. They run out very quickly upon opening. I got Rs 2000 after standing in line for 3 hrs. My dad managed to get Rs 10000 after getting in line 2 hrs before bank opened. Then he waited another 2 hrs and finally got the cash only because he's Sr citizen. In short it's dire, even in private banks. Luckily most of the nearby shops have got a card swiper now. Vegetables do require cash.
DeleteNifty dropping like a stone but USD is not budging. Is Modi really taking money out of circulation? idk.
ReplyDeleteInterest rates might drop soon. Banks are flush with cash deposits.
ReplyDeleteI don't trade anymore, but if I did, I'd short tatasteel every day at around 410 and ride it all the way down. market cannot go up much, liquidity has been sucked out. I'm just waiting by the sidelines, hoping a few shares I'm watching will come down to attractive levels so I can add them to my kitty. Already been adding RECLTD. PFC is also on my radar.
ReplyDeleteRakesh, check out a few recent videos about Christmas in New York and Times Square. They're magical!! Google Christmas New York 2016. Gosh the window displays are unlike anything I've ever seen.
ReplyDeleteThis one has mostly window displays
ReplyDeletehttps://www.youtube.com/watch?v=pIJBXMy0z3A
Yes, wonderful display! Thanks and best wishes for approaching New Year!
ReplyDeleteHappy New Year RM. Wish you and your family the very best for 2017. Reagrds, DM
ReplyDeleteThanks DM! A very Happy New Year to you and your family!
Deleteregards
rm
rakeshbhai, its time for fresh start,new post please,
ReplyDeletebefore this post completes senior citizen status, hits century posts.. :)
Senior citizen ko 8% interest milega na. :D
DeleteHow is Tommy doing? Is he excited? Oh wait, Tommy doesn't need to wait a whole year to get excited...
Deletetommy is fine uma, is excited around when someone occasionally bursts crackers, he thinks its Diwali,else he sleeps whole day wakes only during feeding time, so its very difficult to get pics, so i get same nidrasana pose every hour ...LOL..
DeleteROFL! What a lazy dog you have got Rajeev! Are you sure he's not a cat? ;) People say their dogs drag them out for their walks, but it seems Tommy has some cat gene which makes him sleepy all day XD
DeleteHappy new year Rakesh and Rajeev! Hope the year 2017 is wonderful in every way!
ReplyDeleteHappy New Year Uma!
DeleteTommy hates fireworks! I hope Jaggu did not light many to celebrate new year. :)
happy new year uma and rakeshbhai, jaggu does not light fireworks even during diwali or newyear, only in his dreams.. :)
DeleteAha! Such an effective wake-up alarm, lighting fireworks in dreams, and free too! :D
DeleteAnd pollution free too! I wish the people of Delhi had as much sense as Tommy. Even the birds suffer too much on account of crackers.
DeleteSo apparently FIIs sold $11 billion in Oct - Dec. In Nov demonetization happened, so around 10% of currency got sucked out of circulation. Still the stocks I want keep moving up. I was expecting midcaps and small caps to crack because those are the onesI want to buy. But no such luck :(
ReplyDeleteBharti Airtel profit crashed 65% Ambani effect XD
ReplyDeleteI'm holding Bharti Airtel. Why am I laughing XD
ReplyDeleteMaan, this demonetization has affected everything except stock market. And the stocks I was eagerly waiting to buy after the crash I was expecting have just made new52 wk highs. I feel sooooooo stupid for waiting :(
ReplyDeleteI had a bit of luck today. I bought Idea this morning at Rs 85/share (up 9%). I thought it was a good valuation, a PE of 11 and even if the merger news didn't pan out it would still be a decent value. Around 1-2 hrs later I log on and WHOA! It's at 98, after hitting a high of 100!
ReplyDeleteThe reason I say a bit of luck is because I only bought 100 shares :D
Well done, Congrats!
Deletethank you! :)
DeleteI don't know why Airtel is shooting up though? Especially after their profit dived 65%
ReplyDeleteTo misquote Lord Tennyson, "ours is not to reason why, ours is just to buy and die" :D
DeleteROFL!! Very witty. That's exactly how the stock market works, in a nutshell.
DeleteAs telecom users, though, we're all going to lose. Less competition for them, more charges for us.
ReplyDeleteI still remember the public issue of his stock, more than 10 years ago, they issued it at 100 bucks per share. Stock soared to 120 on day of listing. But since then it was just a downward chart...
ReplyDeleteDo Nifty stocks have upper circuit?
ReplyDeleteThere are no circuits for stocks traded in Futures & options segment.
Delete"Quote" There are no day minimum/maximum price ranges applicable for futures contracts.
However, in order to prevent erroneous order entry by trading members, operating ranges are kept at +/-10 %. In respect of orders which have come under price freeze, members would be required to confirm to the Exchange that there is no inadvertent error in the order entry and that the order is genuine. On such confirmation the Exchange may approve such order. "Unquote"
https://www.nseindia.com/products/content/derivatives/equities/individual_securities.htm
Thank you for digging that out! My google search just pulled out archived news about nifty hitting upper circuit twice (back in May 2009)
DeleteThese days all kinds of garbage micro-caps are at PE over 10. But many blue chip IT and telecom stocks are lying neglected. Now everybody wants the manufacturing sector, because they provide quick and dirty growth.
ReplyDeleteWTF even RCOM jumped over 11% It's not even a profit-making company.
ReplyDeleteI was drinking tea today when I checked NSE site and...COUGH COUGH. I have never gained so much so quickly on any stock. Why did I buy only 100? WHYYYYYY??
ReplyDeleteNow I just need Infy to crack to 750 or so and I will buy like no tomorrow. Watch out, all you big bulls! I might buy 50 shares and break the upper circuit.
ReplyDeleteThis Trump is so dangerously stupid! I always believed that he would not find enough dangerously stupid people to vote him to power but I was so wrong!
ReplyDeleteI just hope that China call upon them to repay some of their debt owed to China, then US might realize how small they are. Just a country of old people who don't realize that tax-paying immigrants are paying their old age pensions (social security). The same people these racist whites can't stand.
ReplyDeleteUK is even worse, though.
ReplyDeleteI can't believe Trump barred Green card holders. The world has gone into the hands of sathiyela buddhas.
ReplyDeleteNo wonder IT stocks are cracking. I'll still buy them.
ReplyDeleteIt will take some time for those rednecks to go to college and learn coding... XD
This comment has been removed by the author.
ReplyDeleteHow did budget day trading go for you? I just watched Infy and TechMahindra
ReplyDeleteOoh so this is why RCOM is moving up. Merger with Aircel might happen. Verdict in Supreme Court awaited
ReplyDeleteSo today I wanted to buy HDIL, but when I logged into my account I bought TECHM. Then I sat kind-of dazed at my terminal and thought what did I do? But after a while I thought it must be my antaratma ki awaaz and it wasn't a bad deal after all.
ReplyDeleteIt might have had something to do with wanting to check the price of techm while I was entering the order for HDIL. And some jadu tona cannot be ruled out.
ReplyDeleteRM, I hope it's ok that I'm posting all these messages on your blog. I hope I'm not flooding it with my own ramblings. It's your blog, after all :P
ReplyDeleteKeep flooding. It is adding to TRP. :D
DeleteROFL!!
Deleteand thanks :))
DeleteTech Mahindra's CEO Vineet Nayyar got Rs 181.74 Crore salary, Infy's CEO got 49 crore. Shareholders ke liye kuch bachta hai ki nahi... :P
ReplyDeleteThis is why Tatas always import goras from US to work as their CEOs. Much be much cheaper ;)
ReplyDeleteToo bad the goras become suicidal as soon as they hit our shores...Or maybe they become suicidal after looking at tatas balance sheet.
ReplyDeleteSome of the micro caps I hold have come out with terrible results. Thanks to that madman Modi.
ReplyDeleteWithin 1 year, Infy CEO's salary went from 48 cr per year to 78 cr per year. But company's profits keep falling. Now Infy founders have questioned his pay.
ReplyDeleteOtherwise next year it would have beaten Tech Mahindra CEO's pay. But at least Tech M has good growth rates so investors are happy.
I just saw Times of India's budget day headline.
ReplyDelete'Wooing Have-Nots, Hitting have-notes'
clever XD
Today I found a good cheap (relatively) IT stock
ReplyDeleteL&T Infotech. Did some mad buying. PE of only 12!!
Total junk stock valuation, considering the kind of stocks you're getting at 12 PE these days. Heck even my microcap Narmada Gelatines is going for PE of 12.
Looks like Suzlon energy has finally become profitable. It used to be a major craze once upon a time and had dot-com type valuations. I wasn't looking at buying it, but it always made me wonder about whether renewable energy generation can be profitable. Guess it could...though it's not easy.
ReplyDeleteToday I indulged in the epic trade of selling my 10 shares of Alembic pharma and buying them back again. Pharma stocks are too expensive, considering there's hardly any growth. But I still feel very nice holding pharma stocks. I feel like a real investor. XD
ReplyDeleteLike a white-collar investor. All my stocks are blue collar stocks. Except some IT stocks.
ReplyDeleteIt seems that Trump is breaking twitter with his tweets. They can hardly keep up with the traffic. Let's make Murica great by building a great big wall. Chunwa do saale ko usi wall mein. Anarkali style.
"Tata Motors Q3 profit tanks 96% on weak JLR operational nos"
ReplyDeleteMistry might have been the right choice for TataMotors. Maruti doesn't have a great product line-up but they churn out profits year after year. tata motors, despite having brilliant products struggles to turn a profit. All because management is not efficient. Even the factory workers at Tatamotors acknowledge that they're lazy slobs (not kidding, I actually know a few people who work there. He himself told me that their whole day goes in socializing and union baaji. And he didn't even buy a tatamotors car this time - after retiring his old Indica- he bought a Honda car. But he was singing the praises of their new launches with the revotron.)
lol! That is funny, buying Honda and praising his own company's models! ;-)
DeleteYes, that's what I thought. Even these guys aren't convinced about the new models, and they're working on the assembly lines. Their India operations were a huge drag on profits even in the best of times. Forget the worst of times, when JLR sales drop.
DeleteAnybody could see where they were headed.
Tata Steel is a much better bet - because after the Corus fiasco, Ratan Tata stopped messing with it. Now they're busy with their own Tata Sons drama. Who cares about shareholders.
Even about Nano, I think they gave it enough time and got enough free publicity out of the cheapest car label. The car itself doesn't have great reviews on the numerous sites I checked. If it was going to be profitable, it would have been by now. Now they should just shed the dead weight and let that b*tch Mamta banerjee have the last laugh. Politicians always do...
ReplyDeleteA case of sell now, regret later:
ReplyDeleteIn April 2016, govt sold shares of NHPC at the floor price of Rs 21.75
In Feb 2017, they are buying it back for Rs 32.
Muhahaha!!
that too they gave a couple dividends after that. So effective buyback price must be 34 at least. Now apna Modi bhai is launching bonds to raise money to run sarkaar. As the money-printing press method has led to extreme devaluation of rupee, so they cannot keep pulling cash out of thin air.
DeleteSo I bought Idea and I am in notional profit too but 3 days ago, company posted net loss. XD
ReplyDeleteI wonder what reliance balance sheet is like this qtr
Just checked. They already posted 10% growth in Q3 profit back in Jan itself.
ReplyDeleteYani sab telecom players mar gaye...aur reliance...is just warming up...
ReplyDeleteOoh I found the missing link in Reliance profits - the rising debt:
ReplyDelete"The company has spent about Rs 75,000 crore so far to build Jio's infrastructure and digital applications. It has borrowed Rs 30,000 crore and contributed another Rs 30,000 crore as equity so far. Before that, RIL spent Rs 15,000 crore to buy the spectrum, said company officials.
The company is looking to draw in another Rs 25,000-30,000 crore before the roll-out. The overall capital expenditure for the first quarter of this financial year was Rs 32,651 crore. The company was debt-free on a net basis until 2012 because of its higher cash flow from refining. The petrochemical and refinery expansions, and digital services business of Jio have consumed most of the debts that RIL has raised."
So the effect will reflect on the balance sheet in the coming years.
BHEL, Idea to move out Of Nifty 50 from March 31
ReplyDeleteAmbani out with Jio Prime plan! :) Good news for subscribers. I was getting 5 GB/month from Airtel at Rs 847 per month. Now Jio has much better plan at just Rs 300. The main casualty of this is going to be television. Everybody will now switch to net for entertainment.
ReplyDeleteI think Motabhai has grand plans for phone - interent - TV with his optical fibre to home approach. You may get a combined package like it happens in US with high speed broadband, voice calls and TV channels subscriptions and at a much lesser price then what is being paid right now. That is why everyone else is in panic now. They were looting public with both hands so far. :D
DeleteIt is just like what happened when Reliance entered telecom field. Airtel and Hutch in those days used to charge upto Rs 9 per minute for local mobile calls!!!
Can't wait for Motabhai's TV plan! We have still not upgraded to HD box of tatasky. So we can throw out our old box without regrets XD
DeleteI don't remember the Rs 9 per minute calls, but I do remember my phenomenal BSNL bill for Internet usage. And then we had to pay extra for Internet access! INSANE! And the sound of the modem dialing, dialing, dialing.....Bandwidth was more expensive than gold until 2005.
DeleteCell phones were such a big-time status symbol in the nineties. They were still a status symbol until 2006 I think. I bought my first cell only after the 1 paisa plans became commonplace. And I bought my first smartphone only after Reliance Jio. But I was a heavy net user by late nineties. Never been into tiny screens. Even now I have a big screen hooked to my laptop. I have glaucoma, will go blind if I keep staring at a small screen. Am already going blind in one eye :P
DeleteSo Reliance finally broke its 8-year high. But if you adjust for inflation it's far away from the old high.
ReplyDeleteBada bhai's share has lifted whole of Nifty. Might take nifty to new high
ReplyDeletePeople keep talking about the good old days when Reliance was the king of nifty. HAHA!
ReplyDeleteTelecom valuations are pretty reasonable right now. People probably won't buy over 15 PE, considering margins are thin and future is uncertain. But if Ambani announces media foray, Reliance will easily hit uncharted territory. Media valuations are terrific. Imagine reliance at PE of, say, 40. Motabhai will be the richest man again.
ReplyDeleteThen Motabhai will construct something even uglier then Antilia! ;-)
DeleteROFL! Imagine, he built that and did not even move in. I hadn't realized how ugly it is, but now that you mention it...yes. It looks like a haphazardly-stacked bookshelf.
DeleteIn the last 3 days I broke my diet and ate too much chocolate and too much everything in general. Now I have to go back to my diet, which I've been keeping for 2 years almost. I've lost around 15 Kgs on it.
ReplyDeleteIdeal way to reduce weight is to find tasty food which is not fatty and has less carbs and more proteins. Then take 5 meals at almost equal gap during the day. With normal workouts or walks this itself will help in maintaining/bringing down weight. Using more coffee/ginger/black pepper also helps as these act as catalysts for increasing metabolism.
DeleteGreat tips, all! I need to start working out. I've been losing just with diet control. I walk a bit in the evenings, but it can hardly be called as exercise.
DeleteAadhar cards being duplicated
ReplyDeleteAadhaar card biometrics duplicated by Axis Bank, 2 other firms; UIDAI
files criminal complaint with Cyber Crime cell
http://www.india.com/technology/aadhaar-card-biometrics-duplicated-by-axis-bank-2-other-firms-uidai-files-criminal-complaint-with-cyber-crime-cell-1880994/
It is such a bad idea to link bank accounts with a database (aadhar database) that's not being safeguarded by your bank.Banking databases have multiple levels of security built into them. Aadhar might have a lot of identification features, but the card itself is dumb, and cannot detect misuse (unauthorized use) the way a smartphone can...what were they thinking anyway??? I haven't got aadhar for this reason. have to pay more for LPG but I decided I didn't want someone opening/ operating a bank account in my name.
ReplyDeleteActually this is a misconception in people's mind (UIDAI has periodically issued clarifications but nobody reads them i guess) that Adhaar data can be stolen.
DeleteIt is the bank data which is stolen in the above cases. UIDAI does not supply any data to banks or any other agency. It merely confirms in a YES/NO style when data is submitted to it. So there is no question of stealing data from UID database.
Nope, it was the UIDAI database which was compromised.
DeleteThey are saying that "Breach is a one-off"
ReplyDeletemeaning it was breached.
http://economictimes.indiatimes.com/news/economy/policy/database-completely-secure-breach-one-off-uidai/articleshow/57488160.cms
Not only that, UIDAI is not required by law to disclose breach. So they are free to put the blame on anyone. People have gone to get aadhar and found that aadhar has already been issued in their name, to some other person.
ReplyDeleteThese guys are also calling it a breach:
ReplyDeleteAadhaar biometric data breach triggers privacy concerns
http://www.livemint.com/Industry/IKgrYL5pg3eTgfaP253XKI/Aadhaar-data-breach-triggers-privacy-concerns.html
“It is an isolated case of an employee working with a bank’s Business Correspondent company making an attempt to misuse his own biometrics which was detected by UIDAI internal security system and subsequently actions under the Aadhaar Act have been initiated,” according to a statement by UIDAI. https://goo.gl/W2CvmZ
DeleteYes, looks like a lapse on bank's end. How did they give this 'business correspondent company' access to their customers' aadhar data? So a lot of employees have access to aadhar. But very few have access to our debit/ ATM cards because such frauds have never been traced to bank employees. I think Aadhar data will never be as secure as our debit card data in the banking database. It's probably as accessible as our PAN card numbers. Now imagine if someone could authorize payments from my bank account using my PAN. I would PANic. In that same way Aadhar is given out to a lot of people, almost everybody requiring ID proof. But nobody asks for our ATM cards as ID proof. This data should be more secure. Transactions via Aadhar is a bad idea.
DeleteNow I'm not able to understand how exactly these transactions got authorized on different aadhar cards if the thumb print was the same in each case?
ReplyDeleteYou can lock your biometric by visiting UIDAI website https://uidai.gov.in/ Lock/unlock biometrics. But most of the general public will be clueless about this.
DeleteDM
Yes. Also UIDAI authenticates the data submitted by a bank or a user, it does not supply the data. Only when one uses Adhaar number along with biometrics (finger print or retina scan) then UIDAI releases the name, address and picture of the person for eKYC authentication. Obviously fingerprints and retina can only be used by the person who is attached to them. :D
Delete@dm thanks for explaining the feature.
Delete@rm Sorry I don't understand. We already know that a bank employee was able to enable transactions with aadhar using his/her own thumbprint, not the aadhar-holder's thumbprint. So these transactions can be authorized without biometric scans.
I agree the problem lies with banks and the people who have access to banks' aadhar data. Again, a document which is used as ID proof and given out to anybody requiring ID proof, including brokers/agents/etc, how can that data which is distributed so freely be used to authenticate transactions? Imagine if I started giving out my credit card photocopy to everyone as ID proof??
@dm if I lock my biometric, it will only block transactions, right? But those who want to authenticate my aadhar no will be able to, right? So if I lock my biometric I can use aadhar as ID proof without any fear of any transactions taking place using my aadhar data? Y/N?
Deletehttps://uidai.gov.in/ << tHIS link does not work.
DeleteAdhaar only stores name, gender, date of birth, address, mobile, email and biometrics. It does not store bank account, PAN or driving license or any such information. It merely authenticates a persons identity.
DeleteIt is very difficult for me to understand what information can be obtained from adhar database by anyone if one is able to hack into it. All the information Adhaar database has is already supplied by us to banks, telecom companies, Transport authorities, Railway bookings. Adhaar based KYC merely confirms to those agencies that the guy claiming to be such and such is really such and such! So where is the privacy compromised? Does privacy means freedom to give false identification to indulge in benami transactions?
https://uidai.gov.in/images/aadhaar_question_and_answers.pdf
DeletePrivacy is compromised by all the fools handling aadhar info at all levels.
DeleteIDEA shares have been shooting and crashing like a madman today
ReplyDeleteFutures traders getting panicky.
ReplyDeleteApparently the idea-voda merger went thru at Rs 72 for idea. My buy order @90 not getting executed because of circuit limit.
ReplyDeleteFinally went to NSE and checked lower limit and now my order accepted at 92.
ReplyDeleteGot Idea at 94. But it's still crashing more. So I put a limit order @85, my initial entry point just after the rumour took it to 120+ territory. LOL. Now I should be happy that I bought only 100 shares XD
ReplyDeleteyesterday I bought 50@101 because I am such a big bull and didn't believe it was going to crash so much. Now people are saying it will fall to 72. I just hope I can catch it!
ReplyDelete"SEBI bans Reliance Industries from equity derivatives market for a year and directed the firm to disgorge nearly Rs 1,000 crore for alleged fraudulent trading in a 10-year-old case."
ReplyDeleteYour view??
In my view this is unlikely to have any long term impact as this case has been running for a decade and definitely not a shock.
DeleteAs for ban on FnO trading by reliance, well, these guys have floated innumerable companies just to trade their shares so that also means nothing. As for the amount of fine including interest, I am sure that Motabhai would have converted that original sum of 470 crores to at least 4700 crores in these 10 years. ;-)
@rm "I am sure that Motabhai would have converted that original sum of 470 crores to at least 4700 crores in these 10 years. ;-)" True! Though Reliance shareholders have been sitting in the same range for last 10 yrs! But Motabhai knows how to get max return from capital.
DeleteToday Idea fell to 87. I have managed to turn my spectacular profit into a spectacular loss XD, since I bought @101 and 94. My today's order at 82 hasn't executed, but I am waiting to 'down-average'. I simply don't understand this market. Idea Earning per share is 7. Book value is 70. At CMP, P/E is 12. Telecom stock at the valuation of penny stock.
This must be the hottest summer in maharashtra. A few days ago there was a sensation when a place near pune made record of 46C. But then mausam vibhag confessed it was a mistake.
ReplyDeleteSo...another three months of free Jio!!! Ambani is driving everybody out of business and I'm loving it!! :D I have sold my Airtel shares, since Idea was working out cheaper and I recently bought a lot of it.
ReplyDeleteIndia and US are going to share their tax database. Cool, ha? Except that US has already been accused of taking too much liberty with their use of private data.
ReplyDelete"It was in July 2015 that India and the US had signed a tax information sharing agreement under a new US law, FATCA. This was done with plans to boost efforts for automatic exchange of financial information between the two nations so that tax evaders can be caught. "
While I don't have much US income (except some books sold on amazon.com) I just don't like the idea of this whole 'big brother is watching' thing.
The iceberg moment in Indian banking system has arrived...the unsinkable PSU banks are sinking...time to get on lifeboats
ReplyDeleteHi RM,
ReplyDeleteTrust you are doing good. Just found out that you also upload M1 data for both cash and F1 market for Nifty scrips. I salute your effort. Thank you for the same.
DM
Hi DM
DeleteCheers!
rm
Hi RM, today headlines in major newspaper - Reliance jio customer data has been breached. Google it....many reputed publications have reported it.
ReplyDeleteAadhar numbers are also leaked. I hadn't registered with Aadhar, I used my passport for identity and address proof.
ReplyDeleteQuoting: "In an interesting development , Jio customer data has been leaked on an independent website named magicapk. Several sensitive details including first name, last name ,mobile number, email-id,circle, SIM Activation Date and even Aadhaar Number have been exposed. To my disbelief I found my own details in the database and also couple of my colleagues are affected too."
ReplyDeleteHi RM,
ReplyDeleteTrust everything is fine at your end. Take care and best wishes. Regards,
DM
Hi DM
ReplyDeleteEverything fine now, I lost balance while cycling and fractured my left shoulder. Underwent a surgery and that explain my muted state for a while. :-)
I'm so sorry to hear this rm. Please do take care of yourself. Recently my cycle was also hit by a SUV and I fell off my cycle.
DeleteThat one was history, I had another one in Aug'18 and this time did not need any help from either cycle or SUV, managed it all on my own - just slipped on the ramp at my front door! :-D
DeleteGlad to know that you are better now. Wish you well. Take care. Regards,
ReplyDeleteDear RM,
ReplyDeleteWish you and your family a happy, prosperous and healthy 2018.
Regards,
DM
Thanks DM! Happy New Year!
ReplyDeleteregards
rm
Hi RM,
ReplyDeleteYou have not uploaded NT data for last few days. Hope all is well. Take care.
Regards,
DM
Same old story, one more fracture 😀
ReplyDeleteShould be back home by weekend
oh no...
DeleteSorry to hear about that. Seems to be quite bad that you had to be admitted. Wish you a speedy recovery.
ReplyDeleteRegards,
Hi RM,
ReplyDeleteGood to know you are back. Wish you an eventless recovery. Happy Trading.
Regards,
DM
Hi RM,
ReplyDeleteTrust you are doing well.
This is regarding NinjaTrader. Which data provider do you use for real-time data?
Thanks,
DM
I am using live data from www.truedata.in
DeleteThey are supplying tick as well as minute data for NT + Amibroker + Excel + other charting softwares. Tick data is actually 1 second data.
regards
rm
Hi RM,
ReplyDeleteWishing you and your family a happy, prosperous and successful 2019.
Regards,
DM
Hi Rakesh, how are you? I'm going to be in Dehradun on 19th Aug 2019. Do you think we could meet?
ReplyDeleteHi Uma! How are you? Long time no see.
DeleteI am likely to be in Dehradun in mid-August unless anything urgent crops up at last moment. Do give me a ring once you reach the city, I'll visit you.
regards
rm
Can you send me your number via email? I hope Ramada hotel is not too far from your place, I'm spending two days there.
DeleteDone
Delete