Securities Ltd Research Articles

A Study on Investment Decision Based on Portfolio with Reference to Sharekhan Securities Ltd

A Study on Investment Decision Based on Portfolio with Reference to Sharekhan Securities Ltd

Restrictive covenants, use of land, and the restraint of trade doctrine

The common law doctrine of restraint of trade has a well-established presence in relation to contracts of employment and contracts for the sale of a business. Beyond those specific areas it reared its head from time to time, but the legal test for its applicability was not a model of clarity. Where the covenantor ceded a pre-existing freedom to engage in commercial activity, the decision of the House of Lords in Esso Petroleum Co Ltd v Harper’s Garage (Stourport) Ltd [1968] AC 269 brought it within the doctrine, but the recent decision of the Supreme Court in Peninsula Securities Ltd v Dunnes Stores (Bangor) Ltd [2020] UKSC 36, on appeal from the Northern Ireland Court of Appeal [2018] NICA 7, has discarded that test in favour of one based on the structure of a trading society. Peninsula Securities was a case concerned with the applicability of the restraint of trade doctrine to covenants affecting the ability of a landowner and its successors in title to use the land in a way that potentially competed with the business of an adjoining occupier. The decision that the restraint of trade doctrine was not engaged in these circumstances was set against the power of the Lands Tribunal to modify or extinguish covenants affecting land under article 5 of the Property (NI) Order 1978.

C & F Nominees Mortgage Securities Ltd v Karbotli

C & F Nominees Mortgage Securities Ltd v Karbotli

The battle of the tests: a Pyrrhic victory? A case note on the Supreme Court judgment in Peninsula Securities Ltd v. Dunnes Stores (Bangor) Ltd

In Peninsula Securities, the Supreme Court held that a restrictive covenant, granted in a lease to an anchor tenant of a shopping centre not to allow any retail unit in the centre to be leased to competing shops, does not engage the doctrine of restraint of trade. The question of its enforceability therefore hinges on whether the relevant covenant breaches competition law, and specifically whether it is anti-competitive by object or effect. This relatively straightforward conclusion of the Supreme Court in Peninsula Securities masks over 50 years of conflicting judgments and uncertainty in the area. Prior to Peninsula Securities, the majority decision of the House of Lords in Esso Petroleum v Harper's Garage gave rise to a ‘battle of the tests’: the majority opined that the doctrine of restraint of trade would only be engaged if the covenantor contracts to give up a freedom they already had (what has come to be known as the ‘pre-existing freedom test’; Lord Wilberforce, dissenting, formulated what came to be known as the ‘trading society test’ which is basically a rule of reason test. In Peninsula Securities, the Supreme Court clearly sided with the latter, but in reality neither test is likely to be considered in future challenges to an anchor tenancy restrictive covenant – the key question is whether it is anti-competitive, something which only the relevant facts of the case will determine.

A Recruitment and Selection Process at Hi-Tech Civil Engineers Pvt.Ltd, Port Blair

Better enrollment and determination techniques bring about improved authoritative results. With reference to this unique situation, the exploration paper entitled Recruitment and Selection has been set up to put a light on Recruitment and Selection process. The fundamental target is to distinguish general practices that associations use to enlist and choose representatives and, to decide how the enrollment and choice practices influence authoritative results at SMC Global Securities Ltd. The examination procedure connected is the exploratory. The information was gathered through very much organized polls. The wellspring of information was both essential and auxiliary. Test size was 30. Information investigation has been finished with the assistance of SPSS programming. The organization thought about entries as the most significant vehicle of procuring workers. The representatives working in the organization consider the worker references are one of the most solid wellspring of contracting the new workers. Organization consistently takes in thought the money saving advantage proportion.

Process of Recruitment & Selection in Havelock Holiday Beach Resort

Better enrollment and decision methodology realize improved legitimate outcomes. With reference to this one of a kind circumstance, the investigation paper entitled Recruitment and Selection has been set up to put a light on Recruitment and Selection process. The essential objective is to perceive general practices that affiliations use to enlist and pick delegates and, to choose how the selection and decision practices impact progressive outcomes at SMC Global Securities Ltd. The assessment framework associated is the exploratory. The data was accumulated through all around composed reviews. The wellspring of data was both fundamental and discretionary. Test size was 30. Data examination has been done with the help of SPSS programming. The association considered portals the most noteworthy method of getting delegates. The delegates working in the association consider the laborer references are one of the most trustworthy wellspring of obtaining the new agents. Association reliably takes in idea the cash sparing bit of leeway extent.

Do Personality Traits and Emotional Intelligence of Investors Determine Their Risk Tolerance?

In today’s scenario, investment is very important in everyone’s life. Investors always prefer the investment avenues according to their suitability, risk and the return because there are different investment avenues available in the market. There are various factors that influence the risk tolerance behaviour of the investors, such as age, gender, marital status, experience, income, household expenditure, present and future savings, future expectations of returns and future planning of the investor. But the risk tolerance is also affected by the personality traits and emotional intelligence (EI) of the investors. Thus, the present study focuses on the relation between the personality traits, EI and risk tolerance of the investors. The data was collected from 500 investors who invest through LSC Securities Ltd (formerly LSE Securities Ltd) in Punjab by using structured questionnaire. Multiple regression test was applied through SPSS to test the significance of relationship among the variables. The study found the relation of risk tolerance with personality traits and EI to be statistically significant.

Balanced Securities Ltd v Dumayne Property Group Pty Ltd

Balanced Securities Ltd v Dumayne Property Group Pty Ltd

Influence of personality traits and behavioral biases on investment decision of investors

The present study focuses on the relation between the investor personality traits, behavioral biases and investment decisions. The data was collected from 500 investors who invest through LSE Securities ltd in Punjab by using a structured questionnaire. Multiple Regression test was applied through SPSS to test the significance of relationship among the variables. The study found the relation of investment decisions with personality traits and behavioral biases to be statistically significant. The people preferred to invest in particular investment options according to their need and with certain objective in mind. The individual investor should not always follow where the majority goes. They should try to search about his investments before the investing in market. The people should develop the habit of making investment at any stage of life. The investor should be alert what, where, why, when and how to make investment in different investment options.

Does personality traits and emotional intelligence influence investment decisions of investors?

In today's scenario, money plays an important role in one's life. In order to overcome the problems in future one has to invest his or her money. The Indian financial system nurtures the saving among the investors and channels them to their optimum and effective use. In today's competitive era, the various investment avenues are available to the investors. Investors in general have enthusiasm to invest in those particular avenues which will produce the maximum returns with minimum risks. The present study focuses on the relation between the investor personality traits, emotional intelligence and investment decisions. The data was collected from 500 investors who invest through LSE Securities ltd in Punjab by using a structured questionnaire. Multiple Regression test was applied through SPSS to test the significance of relationship among the variables. The study found the relation of investment decisions with personality traits and emotional intelligence to be statistically significant. The people preferred to invest in particular investment options according to their need and with certain objective in mind. The individual investor should not always follow where the majority goes. They should try to search about his investments before the investing in market. The investors should focus on safe investment avenues. The people should develop the habit of making investment at any stage of life. The investor should be alert what, where, why, when and how to make investment in different investment options.

Primary Securities Ltd v Willmott Forests Ltd

Primary Securities Ltd v Willmott Forests Ltd

Impact of Analysts' Recommendations on Stock Prices: Evidence from Karachi Stock Exchange

This study analyzes the impact of analysts’ recommendations on stock prices in the Karachi Stock Exchange (KSE) using the Morning Shout, a report published daily by Khadim Ali Shah Bukhari Securities Ltd (KASB) which includes buy and sale recommendations about different stocks. Using event study methodology, a sample period of 2 years and 277 recommendations were analyzed. Market model is used to estimate abnormal returns for stocks around the recommendation dates. Results of the study indicate that analysts’ recommendations do create positive abnormal returns for investors and these abnormal returns are the result of the information content. Results show that stocks earned on average 0.41% abnormal return on the day of publication of recommendations and continued to earn abnormal returns till the 10th day of publication of recommendations. Further analysis shows that there is a possibility of information leakage prior to the publication of recommendations, as these securities earned positive abnormal returns prior to the publication of Morning Shout.

Can Analysts Really Forecast? Evidence from the Karachi Stock Exchange

This study examines the impact of analysts’ recommendations on stock prices listed on the Karachi Stock Exchange for the period 2006–12. The recommendations are extracted from the daily Morning Shout report published by Khadim Ali Shah Bukhari Securities Ltd (KASB), which provides buy and sell recommendations for different stocks. We use the market model to estimate the abnormal returns around the recommendation dates for these securities. The study also investigates whether the abnormal returns are due to price pressure or information content. We find that investors earn abnormal returns on the basis of analysts’ recommendations for these securities. The results are robust in considering only the sub-sample subsequent to 2008’s global financial crisis, and are also consistent with the information content hypothesis and price pressure hypothesis.

ABN Amro Clearing Sydney Pty Ltd (formerly known as Fortis Clearing Sydney Pty Ltd) v Primebroker Securities Ltd (recs and Mngrs Apptd)(in liq)

ABN Amro Clearing Sydney Pty Ltd (formerly known as Fortis Clearing Sydney Pty Ltd) v Primebroker Securities Ltd (recs and Mngrs Apptd)(in liq)

The Burden of Proof in Whistleblowing: Fecitt and others v NHS Manchester: [2011] IRLR 111

In Fecitt & Ors v NHS Manchester [2011] IRLR 111, the Employment Appeal Tribunal considered both the burden of proof and what it is that needs to be proved in whistleblowing cases for detriments short of dismissal. It decided that whilstleblowing was a form of victimisation and that therefore it was bound by Igen v Wong [2005] EWCA Civ 142, CA. The EAT held that once a claimant has proved that they have made a protected disclosure and suffered a subsequent detriment, section 48(2) Employment Rights Act (ERA) 1996 places the burden of proof on the respondent to prove, on the balance of probabilities, that the treatment was in no sense whatsoever on the ground of the protected disclosure. There are two equally controversial elements to the ratio decidendi of this case. The first involves the wording of section 47B ERA, which states, ‘A worker has the right not to be subjected to any detriment by any act, or any deliberate failure to act, by his employer done on the ground that the worker has made a protected disclosure’. The EAT held that ‘on the ground that’ requires the employer to meet the ‘in no sense whatsoever’ causation test set out in the Barton guidelines (Barton v Investec Henderson Crosthwaite Securities Ltd [2003] ICR 1205, EAT) as affirmed in Igen.

Balanced Securities Ltd v Bianco and Others

Balanced Securities Ltd v Bianco and Others

Primebroker Securities Ltd (recs and mgrs apptd) (in liq) v Fortis Clearing Sydney Pty Ltd

Primebroker Securities Ltd (recs and mgrs apptd) (in liq) v Fortis Clearing Sydney Pty Ltd

Corporate Collapse. Accounting, Regulatory, and Ethical Failure

Part I. Accounting in Crisis - a Farce to be Reckoned With: 1. Chaos in the counting-house 2. Creative accounting - mind the GAAP Part II. The 1960s: 3. The corporate 1960s: dubious credit and tangled webs 4. Reid Murray: the archetypal failure postscript - Stanley Korman 5. H. G. Palmer: 'Gilt' by association Part III. The 1970s: 6. Going for broke in the 1970s 7. Minsec: decline of a share trader 8. Cambridge credit: other people's money 9. Uncoordinated financial strategies at Associated Securities Ltd. Part IV. The 1980s: 10. The 1980s: decade of the deal? 11. Adsteam on the rocks 12. Bond Corporation Holdings Ltd (Group): entrepreneurial rise and fall 13. Westmex Ltd: the security facade of cross guarantees Part V. The New Millennium - Life in the Farce Lane: 14. 2000s and beyond: crisis in accounting and audit 15. HIH - unfettered hubris. Part VI. Regulatory Reforms: 16. Groupthink: Byzantine structures 17. Groupthink - group therapy: consolidation accounting 18. Fatal attrition - accounting's diminishing serviceability 19. Ethos abandoned - vision lost: accounting at the professional crossroads?

Sale and Lease‐Back Agreements in a World of Title Relativity: Michael Gerson (Leasing) Ltd v Wilkinson and State Securities Ltd

Where there is misconduct, the courts are often faced with a choice between conflicting proprietary claims made by those who have innocently become caught up in the rogue's activities. Very rarely, there is a windfall profit and the court may have the relatively pleasant task of choosing who has the better claim to it;' however, usually the rogue is insolvent and one party may suffer as a result.2 In an insolvency, the first hurdle for a claimant will be to establish proprietary rights in relation to identifiable property in order to elevate himself above the position of an unsecured creditor. Yet there is always a danger that a claimant can be divested of these proprietary rights if another party can also establish proprietary rights over the same property and can successfully rely upon one of the exceptions to the nemo dat principle, that no-one can transfer a better title than they have themselves. The recent Court of Appeal decision in Michael Gerson (Leasing) Ltd. v Wilkinson and State Securities Ltd.3 is a significant case, which extends the protection offered to a second purchaser by the 'seller-in-possession' exception and exposes finance companies to unanticipated risks in relation to goods which they own but which are currently subject to sale and leaseback agreements.

R (on the application of Fleurose) v Securities and Futures Authority Ltd and another

The claimant, Mr Fleurose had been employed by JP Morgan Securities Ltd, a member of the Securities and Futures Authority (SFA), as a senior cash arbitrage trader. The London Stock Exchange (LSE) carried out an investigation into allegations that, on 28th November, 1997 he had, acting with his immediate superior, manipulated the FTSE 100 index in order to ensure that JP Morgan Ltd did not have to make a payment under a binary option. Under the terms of the option JP Morgan Ltd would have had to pay out if both the FTSE 100 Index and the Standard & Poors (S&P) Index were higher at the end of the month than at the beginning. On 28th November, the final day of trading, the S&P Index was significantly higher than its opening level but the FTSE 100 index was near the critical level at or below which JP Morgan Ltd would be relieved of its obligation to pay approximately £475,000 under the option. The applicant entered a wave of automated ‘sell’ orders in stocks in the leading five companies of the FTSE 100 list in the final eight minutes of trading of 28th November. The total value of those orders amounted to £11,247,525 and the ‘sell’ orders entered in the final six seconds of trading were at stated prices well below the market levels at the time. The FTSE 100 Index reacted by falling below the critical level. An immediate investigation into the sudden late fall in the Index was launched by the London Stock Exchange which attributed it to trading activity by JP Morgan Ltd. The firm conducted its own investigation and acknowledged that it had, through the activities of the Equity Derivatives Trading group (Mr Fleurose's group) breached Rule 2.10 of the London Stock Exchange Rules which prohibited member firms from doing an act or engaging in a course of conduct with the sole intention of moving the Index value. The firm was fined £350,000 by the London Stock Exchange. Mr Fleurose himself was not subject to the disciplinary jurisdiction of the London Stock Exchange but he was to that of the Securities and Futures Authority (SFA) as one of its Registered Representatives, along with his immediate superior.