Author: Ajay Vaishnav

Top 10 stocks that trended in the market on August 23

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity indices closed in the green with the Sensex jumping over 51 points to end at 38,336.76 or higher by 0.13 percent.

The Nifty 50 settled at 11,582.30, up by over 11 points or by 0.10 percent. Capital goods, fast moving consumer goods (FMCG), information technology (IT) and pharma stocks surged, while metal, bank, financial services and auto stocks dipped.

Here’s a list of stocks that made the buzz in the market today:

Tata Motors: Shares slipped 4.33 percent to end at Rs 257.40 on the BSE after reports of US imposing 25 percent levy on cars from Europe.

Reliance Industries: Shares ended 1.86 percent higher in trade at Rs 1,269.70 on the BSE. Reliance Industries has added market capitalisation of more than Rs 2 lakh crore in 2018, with the oil-to-telecom conglomerate’s total market capitalisation now above Rs 8 lakh crore.

Bombay Burmah Trading Corp.: Another Wadia Group company’ stock soared 20 percent to trade at Rs 2,009.80, rising by Rs 334.95 in intraday trade. It ended at Rs 1,960.25, higher by 17.04 percent on the BSE.

J B Chemicals and Pharmaceuticals: Shares rose over 11 percent to a six-month high of Rs 337.90 after the company said its board will meet on August 31 to mull buyback of shares. It ended at Rs 328.20, higher by 8.19 percent on the BSE.

National Peroxide: Wadia Group company’s shares closed at Rs 4,375.70, higher by 3.58 percent on the BSE. Intraday, the scrip jumped to a high of Rs 4,464.95.

Prataap Snacks: Shares of Prataap Snacks Ltd surged as much as 17.7 percent to Rs 1,290, posting biggest intraday percent gain since its trading debut in October last year. At close, it traded at Rs 1,285.40, jumping 19.74 percent on the BSE.

GlaxoSmithKline Consumer Healthcare: Shares surged over eight percent to hit lifetime high of Rs 7,700, after reports of many FMCG majors being in the fray to buy its nutrition business, including Horlicks. Shares ended at Rs 7,500, rising 5.41 percent on the BSE.

Globus Spirits: Shares traded at Rs 155.50, spiking by 6.58 percent at close on the BSE. It has traded in a range of Rs 159.35 and Rs 144.05, after opening at Rs 147.10. Speaking to CNBC-TV18, the company said it expects Bihar Distillery to resume operations soon and the facility will run by 75 percent by December 2018.

Mahanagar Gas: Shares slumped over 7.5 percent to Rs 835.05 in intraday trade, but recovered a bit to settle at Rs 840.25, down by 6.62 percent.

CreditAccess Grammen: Shares of microfinance firm ended at Rs 420.80, higher by 9.30 percent or by Rs 35.80, from its opening price of Rs 385. The stock had a tepid start on the BSE and ended 0.28 percent lower from its issue price of 422.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance Industries first Indian firm to cross market cap of Rs 8 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Reliance Industries on Thursday became the first Indian company to cross Rs 8 lakh crore market capitalisation (approx. $114.13 billion).

The Mukesh Ambani-led oil-to-telecom conglomerate has added market cap of more than Rs 2 lakh crore in 2018 alone, while its shares surged nearly 37 percent this year.

RIL shares ended 1.86 percent higher in trade at Rs 1269.70 on the BSE. Intra-day, it touched a high of Rs 1,273.55 today.

Investors continue to repose faith in the company after data from the Telecom Regulatory Authority of India (Trai) showed a sharp rise in Reliance Jio subscribers, while rival and market leader Bharti Airtel’s subscriber additions numbers slowed massively.

Reliance Jio has now launched the telco’s broadband serice JioGigaFiber along with another budget-friendly smartphone Jio Phone 2.

Investors have been upbeat on the stock after the company’s June quarter results showed promising financials in telecom and retail sectors along with continued performance in traditional revenue streams.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market volatile after record opening; bank, metal, auto shares dip

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity indices traded flat around noon after hitting record highs amid mixed global cues.

Market turned negative on account of weakness in rupee, higher Brent crude prices and selling pressure in metal, bank and auto stocks amid lingering US-China trade war concerns.

That said, strong gains in Pharma along with good support from fast-moving consumer goods (FMCG) and information technology (IT) shares offset losses in other sectors.

The BSE Sensex was trading at 38,290.50, marginally up by 4.75 points or 0.01 percent, while the NSE Nifty 50 was lower by 6.05 points or 0.05 percent at 11,564.85 at 11:45 AM.

The 50-share broader NSE index traded in a range between an opening high of 11,620.70 and a low of 11,546.70. The Sensex has seen a high of 38,487 and a low of 38,227, after starting at 38,416.

Shares of L&T were higher by two percent on the BSE. Power Grid, NTPC, Hindustan Unilever, HDFC, TCS and Wipro shares also rose by up to 1.92 percent on the BSE among others.

HDFC twins surged by up to 0.83 percent, while Reliance Industries was higher by 0.65 percent. Tata Motors declined the most on the BSE index by 3.16 percent, followed by Vedanta, Kotak Bank, SBI, Bajaj Auto and Tata Steel.

On the NSE, Dr Reddy’s Labs was the top gainer with 3.28 percent. L&T, Lupin, Power Grid and Cipla shares also rose by up to 1.83 percent.

Oil marketing companies’ shares were trading lower with IOC, BPCL and HPCL declining by up to 2.79 percent.

The Nifty Bank was down by 0.61 percent. PSU Bank stocks were particularly under pressure as seen in the Nifty PSU Bank’s sharp decline to 1.78 percent.

The Nifty Metal was other major laggard with 1.34 percent fall. The Nifty Pharma surged the most by 1.43 percent, while Realty, IT and FMCG also gained by up to 0.79 percent.

Also, catch all the action and updates in our Market Live blog.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

CreditAccess Grameen shares gather steam after tepid start

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of microfinance firm CreditAccess Grammen Ltd rose as much as  7 percent in mid-morning trade after opening at a discount against the issue price on Thursday.

The stock traded at Rs 412.50, higher by 7.14 percent or Rs 27.60, from its opening price on the BSE at 10.23 am. It opened with 7 percent discount at Rs 393 against issue price of Rs 422.

Creditaccess Grameen raised Rs 1,131-crore through its initial public offer (IPO) which was subscribed 2.22 times during August 8-10.

The portion reserved for qualified institutional buyers was subscribed 5.52 times, while that for non-institutional investors was subscribed 0.98 times. Retail investors share was subscribed 0.88 times.

The public offer comprised a fresh issue of up to Rs 630 crore and an offer for sale of up to 11,876,485 shares, including a portion of 8,041,617 shares reserved for anchor investors.

CreditAccess Grameen is primarily focused on providing micro-loans to women customers predominantly in rural areas.

Also, catch all the action and updates in our Market Live blog.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market trades lower after opening highs; Nifty Bank under pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex was trading at 38,275, lower by nearly 11 points, or 0.03 percent. The Nifty 50 was trading above 11,550 mark, at 11,559, trading lower by 11.60 points, or 0.10 percent at 11.10 am.

BSE MidCap was flat, down by 0.03 percent, while SmallCap was lower by 0.31 percent. Except FMCG, Healthcare, IT, Utilities, Power and Teck all other sectoral indices were trading lower on the BSE.

On the NSE, only Pharma, IT and FMCG were trading higher among sectoral indices with maximum weakness seen in PSU Bank at 1.96 percent and Metal down by 1.46 percent.

Shares of Tata Motors, Vedanta, SBI, Kotak Mahindra, Bajaj Auto, BPCL, HPCL, Hindalco declined while Lupin, Cipla, Dr Reddy’s Labs, Power Grid, HCL Technologies, HUL, HDFC, TCS, NTPC gained on indexes.

(Market update as of 11.15 am)

Equity market opens at record highs

Indian equity indices started on a strong note on Thursday amid mixed global cues.

The BSE Sensex jumped nearly 131 points to start at 38,416, while the NSE Nifty 50 started at 11,620, surging by nearly 50 points.

Indices trimmed gains in initial trade on account of short-selling seen in bank, auto and metal shares. At 9.16 am, the 30 share BSE index was trading higher by over 100 points, at 38,385.81. The 50-share broader NSE index was at 11,604.30, higher by 33.40 points.

Nifty Bank rose to 28,298, up by 0.14 percent.

Midcaps were trading in the green, Nifty MidCap hovered above flatline, while the BSE MidCap was trading higher by 0.31 percent.

Six out of 19 sectoral indices on the BSE index were trading negative with maximum pressure seen in Metal. BSE FMCG, healthcare, telecom, teck, and IT traded higher by up to 1.5 percent.

NSE sectoral indices were mixed with Nifty Pharma trading higher by 1.69 percent. FMCG and IT also traded higher.

PSU Bank was lower by 0.40 percent, while Nifty Bank and PVT Bank were down 0.21 percent and 0.25 percent, respectively.

Shares of Bharti Airtel, Sun Pharma, Power Grid, Wipro, HDFC, Lupin, Dr Reddy’s Labs, Cipla surged higher on indexes, while Tata Motors, BPCL, Vedanta, HPCL, Kotak Mahindra, SBI were lower by up to 3.01 percent.

On the rupee front, the home currency opened weaker at 70.02 against the dollar after Tuesday’s close of 69.81.

Asian markets were trading mixed with Japan’s Nikkei marginally up by 0.18 percent, while Hong Kong’s Hang Seng dipped by 0.61 percent. Chinese stocks were under pressure ahead of imposition of fresh 25 percent tariffs on $16 billion worth of Chinese goods by the US.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Morgan Stanley sees 30% chance Sensex at 44,000-mark by June 2019

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity indices are trading at record levels outperforming their emerging market peers.

The Sensex particularly is having a dream run with the 30-share BSE index hitting a life-time high of 38,402.96 in intra-day trade on August 21.

Global financial services firm, Morgan Stanley, thinks that Indian market’s bull-run likely will continue with a 30 percent chance that the Sensex may hit the 44,000-mark by June 2019.

The chips are in India’s favour driven by macro stability, low policy uncertainty, improving growth and domestic flows amid the recent emerging market turmoil.

“India’s policy environment has defied expectations and remained relatively benign despite the coming elections in 2019. Macro stability is strong backed by a central bank committed to keeping real rates positive,” wrote Morgan Stanley’s Ridham Desai and Sheela Rathi in a research report.

Corporate confidence is also at high and private sector’s profit share in GDP (Gross domestic product) could rise significantly.

“India’s growth is likely accelerating relative to emerging markets. Our work shows that corporate confidence is at a multiyear high and profits are likely to mean revert from below trend. Indeed, India’s corporate profit share in GDP is at close to all-time lows, which means the upcycle could be quite significant – a contrast to most other parts of the world,” the report added.

The technical also support the view with India’s yield curve is undergoing bullish steepening, with the upside suggesting that the equity market is gaining conviction in the growth cycle.

On our June 2019 target of 36,000, the Sensex would trade at just under 16x one-year forward P/E, which below its historical average, Morgan Stanely said in the report.

The report also points at risks as well as recovery in other emerging markets could end India’s outperformance, while a collapse could lead India to fall like quality stocks do when in a bear market.

Yet, another risk is the election cycle, which brings its own set of uncertainties such as inflation from food prices or fiscal slippage. In a 20 percent bearish scenario, the Sensex could slide to 26,500 levels.

The Morgan Stanley report also projects the Sensex earnings growth of 5 percent on year-on-year (YoY) basis in FY18, 23 percent YoY in FY19 and 24 percent YoY in FY20, in a moderate 50 percent probability scenario.

The report suggest large-cap GARP stocks among banks, discretionary consumption and industrials.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty 50: Here’s how the NSE index has evolved from 1,000 to 11,500 levels

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The NSE Nifty 50 touched a lifetime high of 11,581 on Tuesday, achieving a milestone that seemed unimaginable in 2002, when the broader 50-share indice hovered around the edge of 1,000. Nifty’s glory today has not come without its share of ups and downs, and it “has been a journey down numerous highways and byways,” according to a Motilal Oswal Securities report.

Over the years, the representation in Nifty-50 has undergone a sea change in consonance with the changes in the underlying economy – new sectors have evolved, while some have lost relative importance in the new India, the report adds.

Here’s how the NSE index has evolved from 1,000 to 11,500 levels:

• Since its base period (November 1995), the Nifty has delivered a CAGR of 11 percent. However, its total market cap is up 56 times, implying a 19 percent CAGR. Notably, since December 2002, total market cap is up 24 times, implying a 23 percent CAGR. However, the Nifty has delivered a CAGR of 16 percent.
• From the Nifty constituents of 2002, Mahindra & Mahindra is the best performing stock with a CAGR of 31 percent, while MTNL is the only stock to deliver negative returns.
• Only 38 percent (19 stocks) of the Nifty constituents have consistently remained on the index since December 2002. Combined weight of these 19 stocks has declined to 61.4 percent from 73.1 percent around 16 years ago. Notably, 13 stocks that got listed over the period – Maruti (listed in July 2003), TCS (August 2004), UltraTech (August 2004), NTPC (November 2004), Yes Bank (July 2005), TechM (August 2006), Power Grid (October 2007), Adani Ports (November 2007), Bajaj Auto (May 2008), Bajaj Finserv (May 2008), Coal India (November 2010), Bharti Infra (December 2012) and Indiabulls Housing (July 2013) – are part of the index now.
• Staying in the top-10 is not easy. Over the last 16 years, Reliance Industries (RIL) is the only stock to have maintained its position in the top-10 in Nifty-50. However, the stock’s weight in the index has declined from 12.3 percent in December 2002 to 9.4 percent in August 2018.
• Since 2004, the largest weighted Nifty stock of that year has failed to outperform the Nifty index over the subsequent five years.
• There are 46 stocks outside the Nifty with market cap higher than the lowest-market-cap Nifty stock.
• The weight of Financials has seen a secular rise in the benchmark indices. Private Financials now contribute 34.3 percent (over 5 times in 16 years) of Nifty 50. It can expand even further given that the index doesn’t have any representation of Insurance yet.
• Technology’s weight (13.7 percent) is showing signs of revival after slipping to a five-year-low of 11.4 percent in 2017.
• PSU’s weight in the index is at all-time low of 9 percent. Motilal Oswal Securities sees very low possibility of new additions in that space.
• Nifty Index future is most actively traded on the exchange. For CY18YTD, Nifty futures average daily turnover is at a seven-year high of Rs 124.9 billion. This can expand further as trading timing gets extended.
• While the market soars to new highs, the Nifty trades at a forward P/E of 18.8 times, at a 21 percent premium to its own long-period average. Nifty P/B, which is at 2.8 times, is at an 8 percent premium to LAP. Notably, Nifty earnings growth over the 16 years is at 12 percent, as against market return of 16 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top 10 stocks that trended in the market on August 21

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Equity indices ended at record highs on Tuesday after trading flat throughout the day.

Barring IT, pharma and media, other sectors traded weak mostly, particularly led by bank shares.

The BSE Sensex ended at 38,285.75, marginally up by 7 points or 0.02 percent, while the NSE Nifty 50 settled at 11,570.90, higher by 19.15 points, or 0.17 percent.

Here’s a list of stocks that made the buzz today:

CESC: The scrip surged by 6.46 percent to close at Rs 1,002.10, rising by Rs 6080. Intraday, it touched a high of Rs 1,028.85 and a low of Rs 941, after opening at 941.50 on the NSE.

DLF: A top drag on the Nifty Realty index, which was down as much as 1.7 percent, DLF shares traded at Rs 208.35, declining by 3.03 percent on the NSE. Intraday, it ranged between Rs 215.40 and Rs 207.25.

UPL: Shares of United Phosphorous Ltd (UPL) closed 5.01 percent higher at Rs 649.90 on the NSE. It touched a high of Rs 651.

Glaxosmithkline Consumer Healthcare: Shares hit a lifetime high of Rs 7,135 following reports that cereal maker Kellogg and UK-based Reckitt Benckiser Plc have shown interest to acquire GlaxoSmithKline Plc’s nutrition business, including Horlicks. The scrip settled at Rs 7,080, rising by 4.39 percent on the BSE.

Kajaria Ceramics: Shares of Kajaria Ceramics surged 10.53 percent to end at Rs 457.65, adding Rs 43.60 to the stock’s value on the BSE.

FDC: Shares of pharmaceutical company FDC Ltd fell as much as 8.1 percent to Rs 232, their biggest intraday percent drop since May 31. The stock closed at Rs 242.80, down by 3.86 percent on the NSE.

Vadilal: Shares of Vadilal Industries hit a 19-month low of Rs 516.50 as ace investor Ashish Kacholia sold 362,305 shares or five percent stake in the company on Monday. It ended the day at Rs 577.10, lower by 1.96 percent.

Jet Airways: Shares ended 2.94 percent at Rs 292.35 after a report that union corporate affairs ministry is probing allegations of siphoning of funds at the airline. Jet Airways denied receiving any communication from the ministry.

Reliance Industries: Shares ended 0.94 percent higher at Rs 1246.50, after hitting record high of Rs 1,251 on the BSE. The oil-to-telecom conglomerate’s market capitalisation stands at Rs 7,89,988.05 crore.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market trades volatile, Nifty Bank under pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex and the NSE Nifty 50 erased gains on Tuesday failing to sustain record highs seen in initial trade.

The Sensex was trading at 38,234.77, lower by nearly 44 points at 11.50 am, while the Nifty was trading lower by nearly 10 points at 11,542.

The 30-share BSE index had jumped over 124 points to touch a new high of 38,403, surpassing its previous record of 38,340 achieved on Monday.  The Nifty 50 also hit a fresh high of 11,582 in early trade, surpassing Monday’s 11,565.

Midcaps were trading mixed with the Nifty MidCap flat, down by 0.02 percent, while the BSE MidCap was up by 0.29 percent.

The top gainers were Wipro, Coal India, Tata Motors, Reliance, Bajaj Auto, HCL Technologies, UPL and Tech Mahindra, while the laggards were Tata Steel, Hindustan Unilever, SBI, ICICI Bank, Vedanta, BPCL.

Nifty Bank was lower by 0.30 percent among sectoral indices. The highest decline was seen in Nifty Realty which was down by 1.48 percent, followed by PSU Bank with 0.88 percent. Nifty IT was the top gainer with 0.91 percent rise.

Realty was the top drag among sectoral indices on the BSE as well. Eight out of 19 sectoral indices were in the red, including Realty. BSE Energy surged the most at 0.86 percent.

Meanwhile, the Indian rupee appreciated against the US dollar on Tuesday, trading at 69.56/$.

Asian shares were higher with Japan’s Nikkei up by 0.22 percent, while Hong Kong’s Hang Seng 0.42 percent higher.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty open higher; private bank, IT shares under pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian benchmark equity indices, the BSE Sensex and the NSE Nifty 50, opened higher on Tuesday amid mixed Asian cues and buying in auto, FMCG and IT counters.

The indexes, however, soon edged lower and turned flat with maximum pressure seen in private bank stocks and index heavyweight Reliance Industries.

After opening at 38,360, the Sensex was trading at 38,347.94, higher by just 69 points, or 0.18 percent. The Nifty started at 11,576, but edged lower to 11,575.90, up by just 24.15 points, or 0.21 percent.

Bajaj Auto, ITC, Asian Paints, Tata Motors shares surged in early trade, while Bharti Airtel, ICICI Bank, IndusInd Bank, Infosys, TCS shares were under pressure.

Midcaps also were under pressure and Nifty Bank slipped into the red, down by 0.13 percent. Except IT, FMCG, Fin Service and Auto indices, all other NSE sectoral indices were in the red. Eight out of 19 sectoral indices on the BSE were trading positive but with muted gains.

Earlier, the Indian rupee opened stronger at 69.65 against the dollar on Tuesday from its Monday’s close of 69.82/$.

Asian shares trade higher with Japan’s Nikkei higher by 0.40 percent, while Hong Kong’s Hang Seng index also gaining by over half a percent.

Also, catch all the action and updates in our Market Live blog.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow