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Tuesday, December 15, 2009
Monday, December 14, 2009
Sluggish markets welcome an uneventful week
Stocks are likely to trade in a narrow band as investors are undecided about the direction of the markets. Expect the benchmark index or the Sensex to trade in a band of 80 points or nearly 0.5 percent for the day. The volumes might be really low considering the holiday season, which has kept the FII's away from the market.
There is no immediate solution in sight to the lack of clear direction in the market. The fact is we will remain at the mercy of global cues and foreign money. Any domestic booster is usually intra-day in nature like the Friday's reversal post the IIP report. Don’t press the panic button in case of any fresh bad news. Stay alert and stick to a stock centric approach. This week’s trend will hinge on what the Fed says at the end of its policy meeting on Wednesday. Till then, we expect the key indices to remain sideways. The Nifty will continue to trade in a 5000-5200 range. It remains to be seen whether the Nifty manages to decisively close above 5180 in the remaining days of the year.
There will surely be few more speed bumps ahead in some form or the other. The recovery in several parts of the world will be a ‘stop-and-go’ affair, especially in the developed world. It is taking different shapes across the globe, with emerging economies such as China and India better placed. Even within the industrialized world and developing markets, the recovery trend is a mixed one. The crucial event to watch will be the Fed’s ‘exit’ strategy. This will then decide the fate of the dollar, whose weakness has been driving up the risk appetite. How various governments execute their ‘exit’ plans and its fallout on their respective economies is another matter of concern.
What is noteworthy however is that though the market has been stuck in a ‘no-man’s land’ for some time now there hasn’t been a major breakdown in sentiment. Every time there has been a big fall, the key indices have rebounded smartly. The case in point is the Dubai debt fiasco. Even last week, amidst more sovereign debt concerns the market held its nerves. The reaction to the lower than forecast IIP data was exaggerated. So, there is still hope that the bulls will regain their hold unless we are hit by another steroid from the external world. Don't pare your equity exposure substantially. At the same time, wait for some clarity on direction before adding fresh positions. Keep some cash handy as there will be opportunities you can capitalise on in the near term.
Stocks that could be in action today include the likes of Godrej Consumer, DLF, Den Networks, AB Nuvo and PSL.
Banking and Realty stocks weighed on the indices on Friday and these sectors are likely to be subdued. Metal stocks will be in a bright spot today, especially Aluminum stocks like Hindalco and NALCO might show strength this morning. Stay away from Realty counters like Unitech and DLF for now. Suzlon Energy is another stock that might outperform the rest of the stocks in the index.
Travel and leisure company Cox & Kings (India) Ltd closed 29% higher at Rs 430 ,the strongest opening day gains amongst maiden public issues so far this year. The stock is likely to touch Rs 450 level in the short term. We see the stock cooling off later in the week. So fresh buying is not advised above Rs 450 level.Midcap stocks like Raj Oil, Pritish Nandy Communications and Praksh Ind were active and show good strength on the charts from an intra-day perspective.
A positive close on Wall Street and subsiding debt concerns are positives to the market, while a great deal of uncertainty about the current direction of the market and lack of positive triggers is a big hurdle for the bulls in the market. Overall, a sluggish day of trade is on the cards with Midcaps and SmallCap stocks spicing up the screen.
News Roundup - Dec 14 2009
Vodafone Group plans to offload its 4.39% indirect holding in Bharti Airtel.
ONGC has sought levy of windfall tax on any crude oil price of over US$60 per barrel to pay for fuel subsidies.
BHEL is in talks with L&T and Pipavav Shipyard to jointly build off-shore oil rigs.
Reliance Infra bags Rs10bn Kandla-Mundra road project in Gujarat.
Government has initiated the process of divesting a further 8.4% stake in NMDC through a fresh public offering.
Tata Steel is in talks with international investors to raise at least Rs50bn through equity and an equivalent amount through debt.
ONGC lost a bid to acquire a large oilfield in Iraq to a consortium of Chinese, Malaysian and French energy firms.
Taro Pharmaceutical asked its shareholders to reject a takeover bid by Sun Pharmaceuticals ahead of its AGM on December 31.
ACC plans to review its decision of scaling down the company's ready-mix concrete business and recommence the expansion plan by the middle of 2010.
GAIL (India) is looking at the D6 block and re-gasified LNG as probable sources of gas for its ongoing Dabhol-Bengaluru and Kochi-Kanjirkkod-Bengaluru-Mangalore pipeline projects
Tata Power to commission first unit of Dagachhu in 2013.
DLF is set to merge the real estate investment trust DLF Assets into itself.
SAIL and Tata Steel have submitted to the government a joint proposal asking to be allocated Coal India long-neglected coking coal mines.
DLF, which was in talks with Brussels-based GDF Suez Energy International and Akuo Energy International for selling its wind mill business, is set to seal the deal by the month-end.
Aditya Birla Group to hive off financial services business.
Procter & Gamble agreed to buy Sara Lee’s air-care brands, including Ambi Pur, for about US$700m.
Apollo Tyres plans to increase tyre prices by up to 10% by this month end.
Parsvnath Developers has raised Rs750mn by selling 50% stake in a housing project to US-based PE firm Sun Apollo.
Jindal Power plans to invest Rs650bn in new power projects and part of the financing for these would be done through its up to Rs100bn IPO.
The Tiruchi unit of BHEL plans to consider four-five companies as candidates for acquisition.
Power Finance Corporation plans to raise US$300mn through external commercial borrowings.
Shree Renuka Sugars in preliminary talks to acquire Balrampur Chini.
Gujarat Power Corporation Ltd inks pact with Torrent Power to develop a 1000MW coal-based power plant at Pipavav in Amreli district of Saurashtra region.
PNB plans to open 100,000 biometric ATMs by 2013.
JK Lakshmi Cement plans to set up a cement factory at Jharli in Jhajjar district of Haryana.
Vodafone Group plans to list its Indian arm and was open to acquisitions when opportunities are available in the country.
VW-Suzuki plans to carry out hybrid car R&D in India.
PTC to acquire coal assets abroad.
ONGC plans to raise US$1bn to service Imperial loan.
GlaxoSmithKline Consumer it temporarily suspended operations at its factory in the industrial estate of Dowlaiswaram in Andhra Pradesh, due to political unrest.
Merck Inc said it had no immediate plans to delist its newly-acquired subsidiary, Fulford India.
BSNL today became the first company in the country to start wireless broadband services and announced a tariff starting with Rs140 per month for rural areas.
The government plans to work out a new subsidy formula to replace the current system of compensating the oil marketing companies for selling below cost through issue of oil bonds.
India’s Industrial output expanded by 10.3% in the month of October from a year ago.
Import duty on equipments halved to 2.5% for mega power projects.
Foreign exchange reserves rose by US$651mn to US$287bn, for the week ended December 4
Centre may allow private developers to use surplus land in housing projects under the Rajiv Awas Yojana for commercial activity, according to the Union Minister of State for Urban Development.
Government says there is no proposal to tax capital inflows in to the stock markets.
PSU oil marketing companies are projected to incur under recoveries of Rs455bn on the four petroleum products in 2009-10 based on the refinery gate prices of the first fortnight of December.
Goods and services tax under the new tax regime, would have four slabs and these are likely to be unveiled within 15 days, says Chairman of empowered committee of state finance ministers.
The government may delay its plans to introduce a uniform licence fee for mobile phone operators.
There is no immediate solution in sight to the lack of clear direction in the market. The fact is we will remain at the mercy of global cues and foreign money. Any domestic booster is usually intra-day in nature like the Friday's reversal post the IIP report. Don’t press the panic button in case of any fresh bad news. Stay alert and stick to a stock centric approach. This week’s trend will hinge on what the Fed says at the end of its policy meeting on Wednesday. Till then, we expect the key indices to remain sideways. The Nifty will continue to trade in a 5000-5200 range. It remains to be seen whether the Nifty manages to decisively close above 5180 in the remaining days of the year.
There will surely be few more speed bumps ahead in some form or the other. The recovery in several parts of the world will be a ‘stop-and-go’ affair, especially in the developed world. It is taking different shapes across the globe, with emerging economies such as China and India better placed. Even within the industrialized world and developing markets, the recovery trend is a mixed one. The crucial event to watch will be the Fed’s ‘exit’ strategy. This will then decide the fate of the dollar, whose weakness has been driving up the risk appetite. How various governments execute their ‘exit’ plans and its fallout on their respective economies is another matter of concern.
What is noteworthy however is that though the market has been stuck in a ‘no-man’s land’ for some time now there hasn’t been a major breakdown in sentiment. Every time there has been a big fall, the key indices have rebounded smartly. The case in point is the Dubai debt fiasco. Even last week, amidst more sovereign debt concerns the market held its nerves. The reaction to the lower than forecast IIP data was exaggerated. So, there is still hope that the bulls will regain their hold unless we are hit by another steroid from the external world. Don't pare your equity exposure substantially. At the same time, wait for some clarity on direction before adding fresh positions. Keep some cash handy as there will be opportunities you can capitalise on in the near term.
Stocks that could be in action today include the likes of Godrej Consumer, DLF, Den Networks, AB Nuvo and PSL.
Banking and Realty stocks weighed on the indices on Friday and these sectors are likely to be subdued. Metal stocks will be in a bright spot today, especially Aluminum stocks like Hindalco and NALCO might show strength this morning. Stay away from Realty counters like Unitech and DLF for now. Suzlon Energy is another stock that might outperform the rest of the stocks in the index.
Travel and leisure company Cox & Kings (India) Ltd closed 29% higher at Rs 430 ,the strongest opening day gains amongst maiden public issues so far this year. The stock is likely to touch Rs 450 level in the short term. We see the stock cooling off later in the week. So fresh buying is not advised above Rs 450 level.Midcap stocks like Raj Oil, Pritish Nandy Communications and Praksh Ind were active and show good strength on the charts from an intra-day perspective.
A positive close on Wall Street and subsiding debt concerns are positives to the market, while a great deal of uncertainty about the current direction of the market and lack of positive triggers is a big hurdle for the bulls in the market. Overall, a sluggish day of trade is on the cards with Midcaps and SmallCap stocks spicing up the screen.
News Roundup - Dec 14 2009
Vodafone Group plans to offload its 4.39% indirect holding in Bharti Airtel.
ONGC has sought levy of windfall tax on any crude oil price of over US$60 per barrel to pay for fuel subsidies.
BHEL is in talks with L&T and Pipavav Shipyard to jointly build off-shore oil rigs.
Reliance Infra bags Rs10bn Kandla-Mundra road project in Gujarat.
Government has initiated the process of divesting a further 8.4% stake in NMDC through a fresh public offering.
Tata Steel is in talks with international investors to raise at least Rs50bn through equity and an equivalent amount through debt.
ONGC lost a bid to acquire a large oilfield in Iraq to a consortium of Chinese, Malaysian and French energy firms.
Taro Pharmaceutical asked its shareholders to reject a takeover bid by Sun Pharmaceuticals ahead of its AGM on December 31.
ACC plans to review its decision of scaling down the company's ready-mix concrete business and recommence the expansion plan by the middle of 2010.
GAIL (India) is looking at the D6 block and re-gasified LNG as probable sources of gas for its ongoing Dabhol-Bengaluru and Kochi-Kanjirkkod-Bengaluru-Mangalore pipeline projects
Tata Power to commission first unit of Dagachhu in 2013.
DLF is set to merge the real estate investment trust DLF Assets into itself.
SAIL and Tata Steel have submitted to the government a joint proposal asking to be allocated Coal India long-neglected coking coal mines.
DLF, which was in talks with Brussels-based GDF Suez Energy International and Akuo Energy International for selling its wind mill business, is set to seal the deal by the month-end.
Aditya Birla Group to hive off financial services business.
Procter & Gamble agreed to buy Sara Lee’s air-care brands, including Ambi Pur, for about US$700m.
Apollo Tyres plans to increase tyre prices by up to 10% by this month end.
Parsvnath Developers has raised Rs750mn by selling 50% stake in a housing project to US-based PE firm Sun Apollo.
Jindal Power plans to invest Rs650bn in new power projects and part of the financing for these would be done through its up to Rs100bn IPO.
The Tiruchi unit of BHEL plans to consider four-five companies as candidates for acquisition.
Power Finance Corporation plans to raise US$300mn through external commercial borrowings.
Shree Renuka Sugars in preliminary talks to acquire Balrampur Chini.
Gujarat Power Corporation Ltd inks pact with Torrent Power to develop a 1000MW coal-based power plant at Pipavav in Amreli district of Saurashtra region.
PNB plans to open 100,000 biometric ATMs by 2013.
JK Lakshmi Cement plans to set up a cement factory at Jharli in Jhajjar district of Haryana.
Vodafone Group plans to list its Indian arm and was open to acquisitions when opportunities are available in the country.
VW-Suzuki plans to carry out hybrid car R&D in India.
PTC to acquire coal assets abroad.
ONGC plans to raise US$1bn to service Imperial loan.
GlaxoSmithKline Consumer it temporarily suspended operations at its factory in the industrial estate of Dowlaiswaram in Andhra Pradesh, due to political unrest.
Merck Inc said it had no immediate plans to delist its newly-acquired subsidiary, Fulford India.
BSNL today became the first company in the country to start wireless broadband services and announced a tariff starting with Rs140 per month for rural areas.
The government plans to work out a new subsidy formula to replace the current system of compensating the oil marketing companies for selling below cost through issue of oil bonds.
India’s Industrial output expanded by 10.3% in the month of October from a year ago.
Import duty on equipments halved to 2.5% for mega power projects.
Foreign exchange reserves rose by US$651mn to US$287bn, for the week ended December 4
Centre may allow private developers to use surplus land in housing projects under the Rajiv Awas Yojana for commercial activity, according to the Union Minister of State for Urban Development.
Government says there is no proposal to tax capital inflows in to the stock markets.
PSU oil marketing companies are projected to incur under recoveries of Rs455bn on the four petroleum products in 2009-10 based on the refinery gate prices of the first fortnight of December.
Goods and services tax under the new tax regime, would have four slabs and these are likely to be unveiled within 15 days, says Chairman of empowered committee of state finance ministers.
The government may delay its plans to introduce a uniform licence fee for mobile phone operators.
Friday, December 11, 2009
Watch out for IIP numbers
(10-12-2009 14:00:46): Nifty btst..Book in good profit
Stocks on Dalal Street are likely to move up on the last trading day of the week on the back of positive global cues. Expect the benchmark index or the Sensex to gain more 100 points or nearly 0.8 percent for the day inrespect to IIP numbers are good. Midcaps are likely continue their domination and finish off the week on stronger note
The rest of the world is off to a stronger start as dollar continued to fall. Australia is up nearly a percent on opening bell and the Korea's Kospi opened up in green after gaining more than a percent yesterday. Consumer Goods and Banking stocks remained strong yesterday and might stay flat today. We like Fertilizer stocks in the short term as we think that that this sector has not participated in the rally. Chambal Fert, Nagarjuna Fert and Meghmani Organics are some of our picks in this space. Thomas cook is another stock that might spurt as listing of Cox & Kings might help the tourism space.
Midcaps continued their bull run and our recommendation Mic Electronics surged more than 19 percent ending the day at Rs 47.40. Smallcap stocks outperformed the rest of the indices by a wide margin for the fourth day in a row. Midcap stocks like ICSA, Zenith Computers and Asian electronics look strong and might build on their gains from Thrusday.
Overall, another positive day for the stocks in the offing as things look rosy and the euphoria might extend for few more days. To keep it simple, investors should wait on the sidelines, while traders could try their luck by placing bets on speculative midcap and smallcap stocks
Stocks on Dalal Street are likely to move up on the last trading day of the week on the back of positive global cues. Expect the benchmark index or the Sensex to gain more 100 points or nearly 0.8 percent for the day inrespect to IIP numbers are good. Midcaps are likely continue their domination and finish off the week on stronger note
The rest of the world is off to a stronger start as dollar continued to fall. Australia is up nearly a percent on opening bell and the Korea's Kospi opened up in green after gaining more than a percent yesterday. Consumer Goods and Banking stocks remained strong yesterday and might stay flat today. We like Fertilizer stocks in the short term as we think that that this sector has not participated in the rally. Chambal Fert, Nagarjuna Fert and Meghmani Organics are some of our picks in this space. Thomas cook is another stock that might spurt as listing of Cox & Kings might help the tourism space.
Midcaps continued their bull run and our recommendation Mic Electronics surged more than 19 percent ending the day at Rs 47.40. Smallcap stocks outperformed the rest of the indices by a wide margin for the fourth day in a row. Midcap stocks like ICSA, Zenith Computers and Asian electronics look strong and might build on their gains from Thrusday.
Overall, another positive day for the stocks in the offing as things look rosy and the euphoria might extend for few more days. To keep it simple, investors should wait on the sidelines, while traders could try their luck by placing bets on speculative midcap and smallcap stocks
Thursday, December 10, 2009
Stocks to open higher on positive global cues
Nifty Btst book on RIGHT Time with Profit
Satyam and Techm we have bought see the results Today
Stocks on Dalal Street are poised to open in the positive territory after giving a pause on Wednesday. Positive cues from the Wall street and some speculative buying could keep the index in the fat to positive territory. Expect the benchmark to trade in a band of 50 to 100 points for the day
Asia is off for a flat start with the benchmark indices in Japan And South Korea trading flat and Australia is slightly in green in the first hour of trade. SGX Nifty, which tests the pre-market momentum is up nearly 15 points at 5,141.50.
As expected Metals and Banking stocks took a beating, courtesy of falling dollar. We see the fortune for the metal pack reversing in today's trade after the greenback pulled back in the currency markets. Metals look hot for day traders today.Hindalco, Jayswal Neco and Adhunik Metaliks are some of the pick for day traders.
Smallcap stocks were in spotlight on Wednesday with index tracking the smallcap stocks gaining 0.4 percent for the day. Things are really getting heated up in this space as Largecaps took a back seat as Funds are sitting tight and are commiting new funds to the heavy weights. Part of the reason could be attributed to the holiday season in U.S, which has kept lot of FII's away from the markets.
Alps Ind and Surya Roshini are two stocks that one could watch out for from a trading perspective. Midcap and third rung IT stocks are likely to extend their rally in to today. Watch out for Goldstone Technology, Four Software are worth watching. Agri Commodity stocks like LT Overseas and KRBL might be active for the second day in a row
Satyam and Techm we have bought see the results Today
Stocks on Dalal Street are poised to open in the positive territory after giving a pause on Wednesday. Positive cues from the Wall street and some speculative buying could keep the index in the fat to positive territory. Expect the benchmark to trade in a band of 50 to 100 points for the day
Asia is off for a flat start with the benchmark indices in Japan And South Korea trading flat and Australia is slightly in green in the first hour of trade. SGX Nifty, which tests the pre-market momentum is up nearly 15 points at 5,141.50.
As expected Metals and Banking stocks took a beating, courtesy of falling dollar. We see the fortune for the metal pack reversing in today's trade after the greenback pulled back in the currency markets. Metals look hot for day traders today.Hindalco, Jayswal Neco and Adhunik Metaliks are some of the pick for day traders.
Smallcap stocks were in spotlight on Wednesday with index tracking the smallcap stocks gaining 0.4 percent for the day. Things are really getting heated up in this space as Largecaps took a back seat as Funds are sitting tight and are commiting new funds to the heavy weights. Part of the reason could be attributed to the holiday season in U.S, which has kept lot of FII's away from the markets.
Alps Ind and Surya Roshini are two stocks that one could watch out for from a trading perspective. Midcap and third rung IT stocks are likely to extend their rally in to today. Watch out for Goldstone Technology, Four Software are worth watching. Agri Commodity stocks like LT Overseas and KRBL might be active for the second day in a row
Wednesday, December 9, 2009
BE IN STOCKS
Dalal Street is likely to open lower after a decoupling itself from the global markets for a day. Expect the benchmark index to give up more than 150 points or one percent for the day. The Midcap story might continue in select counters but the number of gainers might be limited
As expected Realty stocks bounced back on Tuesday and are likley to give up their gains in today's trade. Metals space might see significant correction as the the dollar continues to weaken. We strongly recommend selling most your portfolio if you are a short ter to medium term investor. We recommend a 'Sell' on Tata Steel and Tata Motors as we are of the opinion that these stocks are over valued at current levels.
Trim your portfolios and stay on the sidelines with cash. We are likely to get a better entry point than the current levels. Banking is another space that might see some correction as the stocks in this space have had a decent rally in the past few weeks.even Healthcare space which is considered as a safe haven for defensive investors is looking expensive with Ranbaxy and Cipla trading near their highest level in more than a year. This might be a good time to take a vacation and re-visit the market in the new year
As expected Realty stocks bounced back on Tuesday and are likley to give up their gains in today's trade. Metals space might see significant correction as the the dollar continues to weaken. We strongly recommend selling most your portfolio if you are a short ter to medium term investor. We recommend a 'Sell' on Tata Steel and Tata Motors as we are of the opinion that these stocks are over valued at current levels.
Trim your portfolios and stay on the sidelines with cash. We are likely to get a better entry point than the current levels. Banking is another space that might see some correction as the stocks in this space have had a decent rally in the past few weeks.even Healthcare space which is considered as a safe haven for defensive investors is looking expensive with Ranbaxy and Cipla trading near their highest level in more than a year. This might be a good time to take a vacation and re-visit the market in the new year
Tuesday, December 8, 2009
Sensex comes to a Crossroads
Investors get ready for another dull day on the trading floor as the markets look tired at current levels. Expect the benchmark to trade within a band of 100 points for the second day in a row, as it is really getting tough to break the tie between the bulls and the bears
Select Midcap counter continued to rally even in a lacklustre market.Manaksia continued its magical journey and was locked in circuit for another day at Rs 91. Third rung counters like Sri Adhikari and Maxwell Ind showed some action. While traders favs like Jayaswal Neco and Rama Newsprint managed double digit gains. Adhunik Metaliks and Tata Elxsi showed great strength and good volume action on Monday.
Investors should stay partly invested for now and hold on to blue chips and cut exposure to speculative stocks. We believe that we might not see a deep cut in the market in the next few weeks or atleast till the year end. One might see some sort of correction in the first quarter of 2010. It is not going to be a smooth ride for the investors from here, as the tail winds from the economic bottom are still blowing fairly hard
Sbi buy in dips for this week
Select Midcap counter continued to rally even in a lacklustre market.Manaksia continued its magical journey and was locked in circuit for another day at Rs 91. Third rung counters like Sri Adhikari and Maxwell Ind showed some action. While traders favs like Jayaswal Neco and Rama Newsprint managed double digit gains. Adhunik Metaliks and Tata Elxsi showed great strength and good volume action on Monday.
Investors should stay partly invested for now and hold on to blue chips and cut exposure to speculative stocks. We believe that we might not see a deep cut in the market in the next few weeks or atleast till the year end. One might see some sort of correction in the first quarter of 2010. It is not going to be a smooth ride for the investors from here, as the tail winds from the economic bottom are still blowing fairly hard
Sbi buy in dips for this week
Monday, December 7, 2009
Bulls look weak after dollar strengthens
Stocks on Dalal Street are likely to open slightly lower on Monday morning on concerns that a rising dollar might pull the plugs on Carry trade. Expect the benchmark index or the Sensex to trade in a range of 50 to 100 points for the day. Midcaps and third rung stocks might outperform the rest of the stocks in the index
Auto and Banking stocks looked weak on Fridays session and might continue the their south bound trend even on Monday. Healthcare sector is one spot that is looking hot with Cipla taking the charge and Hospital operator Fortis Healthcare showing a fresh break out near the Rs 120 level. Smallcap stocks remained strong even in a slow market. The sectoral index gained 0.38 percent for the day, and the trend is likely to continue in these stocks.
Midcaps and Smallcap space is looking hot and is set to take the center stage. We are not big fans of this rally, but people who would like take part in it should trade in these stocks with tight stops. Karuturi Global, Prime Securities, Jyothy Labs are some of the stocks that are looking good on the charts. Medium term investors could look at Century Enka Rs 195 as the group company Centry Ind is likely to hike stake in the company. Lanco Infra is another stock that might spurt as the compani likely to approve a stock spilt so
Auto and Banking stocks looked weak on Fridays session and might continue the their south bound trend even on Monday. Healthcare sector is one spot that is looking hot with Cipla taking the charge and Hospital operator Fortis Healthcare showing a fresh break out near the Rs 120 level. Smallcap stocks remained strong even in a slow market. The sectoral index gained 0.38 percent for the day, and the trend is likely to continue in these stocks.
Midcaps and Smallcap space is looking hot and is set to take the center stage. We are not big fans of this rally, but people who would like take part in it should trade in these stocks with tight stops. Karuturi Global, Prime Securities, Jyothy Labs are some of the stocks that are looking good on the charts. Medium term investors could look at Century Enka Rs 195 as the group company Centry Ind is likely to hike stake in the company. Lanco Infra is another stock that might spurt as the compani likely to approve a stock spilt so
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