Indian Hotels Company, a part of the Tata Group, is picking up around 36-37% equity stake in BJETS - a fractional ownership private jet company headquartered in Mumbai. Singapore-based Briley group (a $2 billion group with interests in aviation, hospitality and BPO) will be the majority shareholder in BJETS.
The Tata Group has a stake in domestic low-cost carrier SpiceJet.
As part of its ambitious drive to be Asia's largest business jet operator, the newly-floated company has also signed the single-biggest order ever in Asia for a fleet of 50 brand new jets worth over $600 million (Rs 2,400 crore).
BJETS is planning to provide private jets to high net worth individuals under fractional ownership where they can own part of an aircraft as well as get a fixed flying time at their disposal.
The company will have a flight operations centre at the new Hyderabad international airport.
Deliveries of the aircraft will be over a period of five years beginning in the first quarter of 2008 comprising 20 Cessna Citation CJ2+ jets and 20 Hawker 850XP and 900XP jets with options for 10 more jets. The first 15 jets will be delivered by the end of 2008. BJETS will start operations from May 2008.
Mark Pierre, CEO, BJETS, said: "While 70% of the fleet will be stationed in India, the rest will be in south east Asia. Our aicraft will be able to fly to at least 120 airports in India. The market in India is under-served with only 100 jets compared to 13,000-14,000 in Europe and US."
Pierre expects the company to have a turnover of around $600 million in its fifth year of operation.
The company will offer three options to corporates and high net worth individuals: 1) Fractional ownership in the fleet with an assured flying time for a year; 2) A pre-paid card of 25 hours of flying without ownership; and 3) Manage your aircraft for you.
R K Krishna Kumar, vice chairman, Tata Group, said: "BJETS will set a new standard in the way we fly and do business in Asia.. This will further underline the luxury experience which the Taj is known for."
Understanding Short Term Trading
Before I begin, this blog is not for intraday traders. My definition of short term implies duration of around 2 to 3 months.
Short Term stock picking is no rocket science, but rather a visual interpretation of technical charts. A basic moving average on a time frame chart will show the direction of the securities movement.
Moving averages is a mathematical results calculated by averaging a number of past data points. Moving averages (MA) in it's basic form is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. Once the value of MA has been calculated, they are plotted onto a chart and then connected to create a moving average line. Typical moving averages used for short term trading are 50 MA and 100 MA.
Types of Moving Averages
1) Simple Moving Average (SMA)
SMA is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. The usefulness of the SMA is limited because each point in the data series is weighted the same, regardless of where it occurs in the sequence. Critics argue that the most recent data is more significant than the older data and should have a greater influence on the final result.
2) Exponential Moving Average (EMA)
EMA overcomes the limits of SMA, where more weight is given to the recent prices in an attempt to make it more responsive to new information. When calculating the first point of the EMA, we may notice that there is no value available to use as the previous EMA. This small problem can be solved by starting the calculation with a simple moving average and continuing on with calculating the EMA.
The primary functions of a moving average is to identify trends and reversals, measure the strength of an asset's momentum and determine potential areas where an asset will find support or resistance. Moving averages are lagging indicator, which means they do not predict new trend, but confirm trends once they have been established.
A stock is deemed to be in an uptrend when the price is above a moving average and the average is sloping upward. Conversely, a trader will use a price below a downward sloping average to confirm a downtrend. Many traders will only consider holding a long position in an asset when the price is trading above a moving average.
In general, short-term momentum can be gauged by looking at moving averages that focus on time periods of 50 days or less. Looking at moving averages that are created with a period of 50 to 100 days is generally regarded as a good measure of medium-term momentum. Finally, any moving average that uses 100 days or more in the calculation can be used as a measure of long-term momentum.
Support, resistence and stoploss can be infered by referring the closet MA below or above the market price. The other factor that is used in short term momentum is the trading volume. The moving averages along with the trading volume can provide a better insight to short term movement.
Markets are moved by their largest participants - I believe this is the single most important principle in short-term trading. Accordingly, I track the presence of large traders by determining how much volume is in the market and how that compares to average. Because volume correlates very highly with volatility, the market's relative volume helps you determine the amount of movement likely at any given time frame--and it helps you handicap the odds of trending vs. remaining slow and range bound.
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