Trading And Investment

India's automobile industry is an industry which has steadily increased and the money invested in the shares of the companies of this industry has increased manifold. As we take the example of Maruti Suzuki or Bosch Limited or TVs Motors or even Hero Moto Corp. One of the biggest reasons for the increase in automobile sector is the increase in spending capacity of the people. Today you will definitely see a motorcycle in any home. Motorcycle cycle is one of the basic necessity of today's time. If I talked about some major changes, then banning of BS-3 vehicles was a major change. At the time the Supreme Court ordered this, all the companies had sold their vehicles at a discounted price. Prolonged pressure in crude oil prices was also a major reason for the growth of the automobile industry, because the pressure on crude oil prices is considered good for tyre companies. Another change is in taxation, which is GST, it was a change that made the sector even stronger, contrib...

Stock market trading is driven by only two factors fear and greed. Trading is a pure speculation of the price in a very short span of time. One has to be a master in this art and should follow strict rules to remain profitable. India is a country of festivals, almost every month there is some festival being celebrated in some part of the country. But there are several festival which is celebrated in larger part of the country like Holi, Diwali, and Durga puja. All these seasons sees a drop in numbers of retail traders. Indian market is largely driven by FIIs and one of the major festival for them is Christmas clubbed with New Year celebration. So around this time market liquidity gets reduced and volatility in market also sees a drop. One thing which can not be ruled out is that before the starting of every festive season we can expect a profit booking   approach from Institutional investors as well as from retail investors. There is a cycle which is repeated on yearly bas...

Impact Of Company’s Quarter Result on Stock Price Quarter results of all listed companies are released as per SEBI guidelines. Due to which a very rapid fluctuations in stock prices can be seen. Sometimes a minor jump in sales figures drive the stocks in green and several times stocks fall after increasing in sales number also. It’s almost impossible to analyze the quarterly result in one go just after seeing the flash of news on TV. There are certain key things which can be analyzed in quarterly result: ·          Gross Sales: It’s basically a number of total sales figure. ·          Net Sales: From gross sales, one can derive net sales by deducting sales return, sales allowances, and sales discount from gross sales. ·          Operating expenses: To run a business there is a minimum base requirement of capital to operate. Basically this is the cost ...

Indian economy slowed down significantly in the first quarter of FY2017, which is worst in last three years exactly the same years Modi government is in center. According to recently released data GDP expanded a weak 5.7% annually in Q1 FY 2017, which was sharply below the 6.1% increase in Q4 FY 2016. All those analyst who were forecasting a healthy growth rate now are vanished and our finance minister is accepting that this is a matter of concern. The probable reason of this slow down can be demonetization or implementation of GST. Export growth slowed notably from 10.3% in Q4 FY 2016 to 1.2% in FY 2017, the worst result since Q4 FY 2015. A strong rupee and confusion over the looming implementation of the Goods and Services Tax (GST) likely weighed on the result. There are many evidence in which suggests that firms were not sure of how to price product, with some even providing pre-GST discounts, which likely caused disruption in economic activity. Meanwhile, import growth rose to...

After every day or two a news comes in related to North Korea and market reacts sharply to it. The latest news came yesterday as North Korea confirmed that it tested a nuclear bomb which created earthquake of magnitude 6.3. US already warned North Korea not to do all these stuffs related to nuclear tests but all the warning has been neglected by the other side. Kim Jong- un is not listening to any one and he continues to do what he want to do. He is also even threatening to US and probably he is ready for a nuclear war. Donald Trump reacted to this test and is trying to find a way how to counter this without getting involved in a war. He asked to stop all trade with any country doing business with North Korea. Probably Trump is hinting towards China which is the lone country who supports North Korea behind the curtains. US along with his allies called for an emergency meeting on Monday to discuss about all options available. The fear of a war cannot be ruled out and if this happens...

Share market is a place where everyone joins it to make profit and several of them end up in losses.There are many reasons due to which loss happens in market.Market is nothing but it is just the predictions,one who predicts well fetches the result in profit on the another hand one whose predictions are wrong end up in losses.Many of the losses occurs due to greediness and emotions.Some of the losses becomes huge because of not placing SL. There can be several other factors like getting suggestion from wrong advisors or brokers.Many of them loose because they want to make money in free of cost calls but forget this fact that nothing in this world comes free of cost.Poison which kills human being also require money to be purchased. There are two kind of risk associated in the market: 1.Systematic Risk 2.Unsystematic Risk Systematic risk is uncontrollable and Unsystematic risk in controllable.So with every trade there is always a risk involved there is nothing in this market which i...

Trading and Investment are two different things done in market. Investment is done for creating wealth by accumulating different stocks in your portfolio for a long term view.Investment can be diversified in different stocks to balance one’s portfolio.There is no any rule of selecting no. of stocks for one portfolio and there can be n number of stocks in one portfolio but having many shares may create difficulties in tracking portfolio.So a limited number of stocks should be there may be around 15.The portfolio should be diversified in different segment of market and also it should be reviewed on every quarter basis.Remember there is no any need to track your portfolio stocks on daily basis otherwise it will create panic in your mind.The selection of stocks should be only done on the basis of fundamental analysis.Entry and exit in a particular stock can also be tracked with the help of technical analysis. Trading on the another hand is done for making some money in short term or...

As nifty hit today 10k everyone celebrated it with great enthusiasm then suddenly after 10 minutes of market it bleeded red.The celebration continued and stories of nifty continued to be shown on some blue channels.I am very much sure that many of traders are still stuck at higher zone( view is only intraday ) and many of them are holding nifty by shorting it and expecting a crash in the market. Both the case is of greed but with a different view on market.As we enter into a trade greed comes in hand to hand in it to earn handsome amount of money and many a times after booking profit or loss if the stock moves in another direction where our profit was probably due we always regret our decision and next time when we trade we enters with more greed.Now if this trade also goes wrong we don’t book loss either we give reference to our previous trade where after booking loss stock moved in that direction where we were expecting.Ultimately our loss increases and a time comes when we are f...

I have been in this market for many years and seen lots of things happening around but recently I have seen a sharp surged in free stock ideas and some advertisement like earn 3000 per day and many more as such. Although I am not denying the fact that it is not possible to earn from this market but earning money from this market is not an easy task.There are number of analyst available and all are providing recommendation.Every one is shouting and probably share market is turning into a fish market.But in fish market at least you will be able to analyse the quality of fish what you are going to purchase. The lucrative advertisement with image of some girls posting this looks like a trap to me in many of the cases.I am not telling that all are wrong but many of them looks fake and are trying to trap a naive investors.Everyone should be aware of all these attractive advertisement and should be cautious before taking any step. Earning money from any source has never been easy and i...

The word safe itself creates a sense of security and looks very much interesting if it is combined with the word “Share Market”. Everyone in this world want money at least to complete his banal needs but it is required to keep a pace with inflation or investment must beat inflation. Now comes the “safe” word which can only be considered with investment like FDs,RDs,PPF( many of them gives negative return if we compare it with inflation ) and many saving schemes of government can be termed as safe but if we want to view share market from spectacle of safe word every thing will get blurred. Nothing in this market can be termed safe either it is mutual fund or bonds.So if anyone want guaranteed return then Share Market is not for them.Analysis done before investing can reduce risk but it can’t be zero.There is always a risk involved but if you want an exponential return then this is the only place where it can be done conveniently. We all have heard a punch line “Dar k aage jeet h”...

Intraday trading is all about timing the market. Entry and exit should be proper and a strict SL( Stop loss ) is mandatory. One should not become greedy. This means you have to exit at target and stop loss. Risk management analysis should be done before entering in a trade. Churning should be strictly avoided and one should always enter in those stocks in which impact cost is less. Impact cost is related to market liquidity and I have heard many of traders got trapped at higher level and is not able to sell their stocks because no one is available as buyer and stock is on lower circuit on per day basis. Leverage trading should be avoided or it should be done after analysing the risk reward ratio. Many of traders asks intraday trading is a gamble but one always has to remember this if you are playing as a gambler then only game will become a gamble. If you have realised the risk reward and also you know your limit of taking risk then it is a fair play. Make your guns ready b...

Today a new history has been made by NSE(National Stock Exchange) it was not working for more than three hours in morning session. The reason behind this failure was due to technical issue. The trading time was reduced ultimately because of this stupid reason and no one is responsible for this mistake. The loss occurred to trader and investor is ultimately will be bombarded on GOD and all will accept it as a fate to them self, may be some one will start  blaming market that it is a gamble. All are correct and I am standing on the side of traders and investors but I am very much disappointed because we are viewing a NEW INDIA through eye of our Prime minister and probably we are in a digital INDIA zone. All these things which are being claimed looks jaw less mouth and we have to move a way ahead in many horizons. Although these kind of activities can also be seen in many markets which are developed but it doesn't mean that we should follow the same suit. There is one proverb ...

Are we heading towards a war? After seeing the current situation in Arunachal Pradesh standoff between India and China is looking quite serious. China is looking very much stiff on his stand and several reports in Chinese media is suggesting some threatening dialogues to India. China has also increased it’s presence in Indian ocean and if we look back making ports near Bangladesh, Sri lanka and Pakistan can be seen as china’s diplomacy which is a serious cause of concern for India. Although Indian navy is taking a close look at it and announced that it is a routine from china. On the another hand Pakistan stand on Kashmir and it’s impact on Kashmir situation is not hidden from any one. On every day a rift between militants and Indian army can be viewed on every news channel. Further cross border terrorism and ceasefire violation is a news which almost all Indians has predigested and now it doesn’t creates much of an impact on many of us. Narendra Modi diplomacy can be a g...

Eris Life sciences: IPO Eris Lifesciences is entering the primary market on Friday 16 June 2017, with an offer for sale (OFS) of up to 2.89 crore equity shares of Re. 1 each by PE firm ChrysCapital (77% of OFS), promoters and other shareholders in the price band of Rs. 600 to Rs. 603 per share. Representing 21% of the post issue paid-up share capital, issue will raise Rs. 1,741 crore at the upper end and close on Tuesday, 20 June. Listing is expected on 29 June. The Ahmedabad-based pharma firm has been manufacturing and selling branded pharmaceutical products in cardiovascular (chronic) and anti-diabetic (acute) categories for a decade. The company has a formulation facility in Guwahati, Assam, which contributes 60 percent of revenues, while its manufacturing partner Sozin Flora Pharma contributed 28 percent. The rest came from third-party manufacturing. While the company’s growth since its inception 10 years ago is marvelous, what is commendable is that it did not require ...

CDSL IPO Analysis Central Depository Services (India) Limited (CDSL) is entering the primary market on Monday 19 June 2017 with an offer for sale (OFS) of up to 3.52 crore equity shares of Rs. 10 each by BSE, SBI, Bank of Baroda and Calcutta Stock Exchange, in the price band of Rs. 145 to Rs. 149 per share. Listing is expected on 30 June, on NSE alone. CDSL’s operating profit (before exceptions) stood at Rs. 117 crore in FY17, up 19% YoY, while PAT came in at Rs. 87 crore, leading to net margin of 59%. FY16 reported an exceptional income of Rs. 33 crore. As of 31-3-17, net worth stood at Rs. 533 crore, translating into BVPS of Rs. 51. Company is debt-free with cash and investments of Rs. 548 crore, or Rs. 52 cash per share. BSE holds 50.05% stake , which will shrink to 24% post issue, in compliance with the provisions of the Depositories Regulations. CDSL has 14 other shareholders including SBI (9.57% pre-offer holding) , HDFC Bank (7.18% ), Standard Chartered Bank (7.18%), C...

Tejas network IPO: A brief analysis Tejas network IPO is opened from today to raise Rs 450 crore via fresh issue. The price band of IPO is 250-257 per share. Bengaluru based Tejas Networks supplies optical and data networking products to telcos, internet service providers, utility and defense companies in over 60 countries, with exports accounting for a third of its Rs. 880 crore topline. Coming onto the financials, FY17 consolidated revenue stood at Rs. 878 crore, with EBITDA of Rs. 174 crore, translating into EBITDA margin of 19.8%. While topline has grown at 24% CAGR since FY13, growth was not linear, with FY15 topline contracting 9% YoY, with similar fate of bottom line. FY13 PBT of negative Rs. 79 crore rose to Rs. 3 crore profit in FY14, dropping to Rs. 18 crore loss in FY15, which rose to Rs.29 crore in FY16 and finally to Rs. 64 crore in FY17. Such fluctuations in financial performance does not post a sound picture of company's fundamentals. Interestingly, the...

What Macron’s Win In France Means For Emerging Markets And India As result of France’s presidential election has already been announced and Emmanuel Macron won the election defeating Le Pen. Emmanuel Macron is the youngest president in the history of France. As market was expecting the same and the positive rally was already in cashed that’s why market has not reacted unexpectedly after the results. If Le Pen would had won then definitely a sell off rally was expected. Macron has sounded pro-business, consistently talking about labour and tax reforms as well as infrastructure spending. The equity markets love these terms. All French and EU focused businesses are likely to benefit, and there may well be a bit of an up-move in European equities in the first half of the week.  Investors in emerging markets like India would be happy that the EU markets are now unlikely to see some vicious sell-off. This puts the focus back on domestic factors and the local triggers...

HUDCO (Housing and urban development corporation) . Housing and Urban Development Corporation (HUDCO) is entering the primary market on Monday 8 May 2017, in the price band of Rs. 56 to Rs. 60 per share, with Rs. 2 per share discount for retail investors. Issue closes on Thursday, 11 May and it likely to list on the bourses on 19 May. Wholly owned by the Indian Govt, HUDCO is a Miniratna (Category-I Public Sector Enterprise) Both housing and urban infrastructure sectors in which HUDCO has presence are facing some serious tailwinds, in the form of Govt. impetus via ‘Smart Cities’ and ‘Housing for All by 2022’ projects which provide visible headroom for future growth. To summarise, Govt. backed lender extending loans to state agencies, where risk of default is near-zero, with adequate capital backing, good quality book and very strong sector tailwinds, is being offered at a price-to-book value multiple of only 1.2 times, which is indeed a no brainer. Retail discount of...

As Indian share market is hovering around it’s all time high many people are expecting a correction in market. The people who were expecting a correction at a level around 9000-9100 were deceived by market and with domestic stability on political front market danced, which was further tuned by corporate earning which is continued at present also. Again many of investors are expecting a correction which is well supported by geo-political situation between North Korea and US. As today’s event also suggested a tensed situation between India and Pakistan which fuelled bearish sentiments.  If we will compare current scenario with 2008 crisis taking parameter of P/E one can say that there is a clear correction which is due to happen because of any reason. Take a look at these two images: In JAN 2008 In April 2017 After seeing these two images one can say that correction will definitely come but do remember nothing is certain in this market. Market punters are ex...

France Presidential Election is going on as first round is over and Presidential candidate Emmanuel Macron   won first round. The second round of election will be on 7 th May 2017 . Emmanuel Macron is fighting election for the first time and he is the youngest leader in the history of France. Emmanuel Macron was Investment banker earlier. The second round of election will be between Emmanuel and Le Pen . Political Pandits of France are predicting a win of Emmanuel over Le Pen  Emmanuel Macron                       Le Pen Sentiments for market : If Emmanuel Macron will win the election then it will create a positive impact for world market, on the another side if Le Pen will win the election then a knee jerk reaction can be seen in the market. Market may trade volatile before the outcome of the result.

To be a profitable trader you must overcome these ten things: You must beat the market benchmark you are competing against or you might was well just buy and hold that index. You must beat your emotions by following a trading plan. You must beat your ego by taking losses early when you are proven wrong. You must beat your greed by managing your position sizing to limit your risk exposure. You must beat your fears by letting a winning trade run when there is no reason to exit. You must beat your desire to predict the future by reacting to what price action is actually happening. You must beat the trader on the other side of your trade. You have to make enough money to beat your commission costs. You must not let the market beat you up with too many losses and make you quit. You must beat the naysayers who think active profitable trading is impossible.

Indian capital markets corrected on the last day of the week. Markets lost in the last trading hour on the news that post-demonetisation around 18 lakh bank accounts have been found where the amount deposited does not match with the income profile of the account holder. Nifty was not able to hold above the level of 9200. Market extended losses in mid-afternoon trade after hovering in negative terrain throughout the session triggered by worries of rising geopolitical tensions after US fired dozens of cruise missiles into Syria. Overseas, European stocks edged lower as geopolitical tensions intensified after the US military struck a Syrian airfield near Homs and as investors exercised caution ahead of the non-farm payrolls report. Asian stocks were mixed. US President Donald Trump said he ordered the missile strikes following the deadly chemical attack that took place earlier in the week. US equities closed well off session highs yesterday, 6 April 2017, after Trump said he's w...

US Launches Air Strike On Syria: 60 Tomahawk Missiles Hit Syria As previewed earlier tonight, the US has launched air strikes against Syria, with NBC reporting that under instructions from President Trump, US ships have launched over 50 Tomahawk missiles, striking Syria. NBC adds that only tomahawks missiles fired, no fixed wing aircraft involved, for now. According to CBS, the U.S. launched about 60 Tomahawk missiles against the Syrian airfield where the plane that allegedly carried out the chemical attack took off from; hangars and planes were targeted, a U.S. official says. Reaction on market: Equity market has seen immediate sell of reacting on the news and due to which Asian market also traded lower and it’s impact is being seen in Indian market too. Bullion as well as crude jumped up as a reaction of this news.

Indian capital markets remained flat to negative on Thursday as RBI’s monetary policy committee kept the repo rate unchanged, while it increased the reverse repo rate to 6 per cent. Nifty traded above the level of 9250. All indices closed in the red, except IT, Metals and Oil & Gas. Consumer Durables and Healthcare reduced 100 points each. Bank index also declined 18 points. Oil & Gas increased 127 points. IT and Metals rose 14 points and 48 points, respectively. Mid-cap index increased 20 points while Small-cap reduced 33 points. Overseas, European and Asian stocks edged lower, after minutes of the US Federal Reserve's last meeting raised worries over high stock market valuations. The Reserve Bank of India (RBI) today, 6 April 2017, kept the policy repo under the liquidity adjustment facility (LAF) unchanged at 6.25%. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today. Stocks which will remain in focus for...

On 5th April, Nifty opened the session on a positive note and thereafter it registered low of around 9215 in the initial hour of trading. However, it moved higher as the day progressed and ended the session near day’s high. Now going forward, the level of 9300 and 9340 is likely to act as a resistance zone. On the downside, the level of 9180-9200 is likely to act as a strong support zone. Key event to watch out for today is RBI policy which is scheduled today at 2:30 pm, due to this volatility will be seen in market. Provisional data released yesterday says that  foreign portfolio investors (FPIs) bought shares worth a net Rs 340.13 crore and Domestic institutional investors (DIIs) sold shares worth a net Rs 194.05 crore. Stocks in news: JSPL: Jindal Steel and Power (JSPL) has seen its output and sales hit a record in the fiscal year 2016-2017. Steel production in the fourth quarter was up by almost 12.3 per cent, even sales increased by 11.2 per cent.   Powe...

Supreme court ordered today that BS-III Vehicles will not be sold from 1st of April 2017. Basically this has been done to reduce the air pollution. Several Automobile companies has inventory of BS-III  they have around 8.5 lakh vehicle with BS-III engines in their inventory, as per reports. The estimated worth of these BS-III vehicles is around Rs 12,000 crore, reports suggested.   This has created a panic in Auto index and most of the shares has gone down. Earlier  the court rejected auto companies plea over the demand for relief of six to seven months.

SEBI(Securities and exchange board of India) banned Reliance industries along with 12 others from equity derivatives trading and also infused a penalty of Rs 447 crore, along with an annual interest of 12% since November 29,2007 taking the total amount to almost Rs 1000 crore. The case related to alleged fraudulent trading in the F&O space in the securities of RILs subsidiary Reliance Petroleum. ONE YEAR BAN The ban will be in place for one year. This is a ten year old case as RIL earlier also asked SEBI to close the case but SEBI refused it. About case When shares of Reliance Petroleum was listed, RIL decides to offloads it’s 5% stake in it. For sake of this the 12 entities which are banned taken an adverse position in F&O, as they sold futures and increased the OPEN INTEREST.   Sebi calculated Rs 513 crore by taking into account the net short positions in derivatives for all the days the 12 entities maintained during November 2007. As share price gown...

Indian market opened positive as Overseas Asian stocks were trading higher as investors were on edge ahead of a vote on US health care later today, 23 March 2017 that could be a barometer for future Trump administration policies. Now going forward, the zone of 8980-9000 is a crucial support level for the Nifty. On the upside, the zone of 9080-9100 is likely to act as a stiff resistance zone.  15 new stocks added to (F&O) segment: The National Stock Exchange (NSE) on Wednesday said 15 new stocks would be added to the futures and options (F&O) segment from March 31. Of these, six are from the financial space — Capital First, Muthoot Finance, Equitas Holdings, Ujjivan Financial Services, Max Financial Services and Indian Bank. Currently, 174 NSE stocks have been allowed to trade in the F&O segment. Other stocks which will be included in the F&O segment include names like Shree Cements, InterGlobe Aviation, Piramal Enterprises, Dalmia Bharat, Suzlon Energy, I...

Market opened down by almost 70 points taking global cues as US stock sank yesterday. Market is expected to be negative for intraday session although a slight up move in afternoon session can not be ignored but sentiments remains negative.This correction was due in the market and for short term trader 8950 will act as a support for nifty on the another hand sentimental support is of 9000. The trading activity yesterday showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1662.72 crore yesterday, 21 March 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 798.57 crore yesterday, 21 March 2017, as per provisional data. 9170-9200 will act as a resistance zone. Stocks which will be in focus today: Dena Bank: Board approves raising of share capital by the bank, amounting to upto Rs 800 crore. Wockhardt: Drug firm, Wockhardt, has received approval from the US heath regulator to m...

Investing in share market has never been easy and remember it will never will. But by following certain points a beginner can avoid lots of negativity related to market.        Avoid the herd mentality-A typical trader or investor always takes a decision influenced by neighbours or relatives. But this strategy is going to backfire in long run. No need to say that you should always avoid herd mentality if you don’t want to lose your hard earned money. The World’s greatest investor Warren Buffet was surely not wrong when he said, “Be fearful when others are greedy, and be greedy when others are fearful!” Taking informed decision-Proper research should be done before investing in stocks. But that is rarely done. Investor generally go by the name of the company or the industry they belong to.   Invest in business you understand-Never invest in a stock. Invest in a business you understand. In another words, before investing in a company you should know w...

Investing in stock market has never been so much lucrative as it has been in recent past. There are many factors behind this whole thing like FDIs investment, global sentiments and demonetization apart from all this stable government. But to deal in stock market there are certain basic rules which needs to be followed. First and foremost thing is to have a Demat account and investment. Before investing any sum it is advisable to calculate your risk appetite. After making an investment it is good to start investing in stocks although there are many other options also available for starting investment like mutual funds but for a new investor it is very difficult to judge that where he/she should invest money in mutual funds. Stocks with familiar name sounds more convenient e.g SBI,Reliance.Everyone is familiar with these kind of name so the first instinct is to invest in familiar name although investing in familiar names may be some time risky and picking stock for investment is al...

Market has opened on a positive tone and the trend for market will be sideways. The support for nifty is around 9106 and breaching this level may extend the correction of another 50-60 points. The resistance is around 9170-9200.There are lots of action happening around in stocks at present juncture so traders should have stock centric approach rather to trade index. Some stocks which are in focus today: Divi’s lab: US FDA issues import alert for Vishakhapatnam unit-2 HCL Technologies: IT major, HCL Technologies, said its board has approved a buyback of shares worth Rs 3,500 crore.   Engineers India: The company said its board has approved a buyback of over four crore equity shares worth Rs 658.80 crore. Oil India: The government-run company will buyback 5.6 percent of the company's shares worth Rs 1,527 crore. IL&FS Engineering and Construction: The company secured a Rs 222.7 crore project for rural electrification in Ranchi. The project is covered under t...

Indian market moved in a narrow range for whole day and was negative for most of the time despite clearing GST legislations. Several stock specific moves were seen and profit booking at higher level was observed in the market. One of the top news for the day was approval of merger by board of directors of Idea cellular with Vodafone due to which idea initially showed strength but loosed all its strength as market progressed towards intraday closing. Telecom sector consolidation will hit employment badly because it will reduce market players. As Aircel-Reliance merger is expected to reduce 5000 number of jobs. Stocks which will be in focus on 21 st march: Wipro: Wipro has emerged as a ‘Leader' in Gartner's Magic Quadrant for managed workplace services, North America. The share price of the company will be watched on March 21. Nestle India: Nestle India has introduced MILO Ready to Drink – The Sports Partner for kids. The share price of the company will remain in the li...