Oct 1, 2010
शेयर के फेस वैल्यू पर इसका क्या असर होता है
बोनस के बाद कंपनी का फेस वैल्यू वही रहता है। दरअसल शेयर विभाजन यानी स्टॉक स्प्लिट और बोनस का मुख्य अंतर यही है कि बोनस में शेयर के दाम तो गिर जाते हैं, लेकिन इसके फेस वैल्यू में कोई बदलाव नहीं होता, दूसरी ओर स्प्लिट में फेस वैल्यू का भाव भी उसी अनुपात में कम हो जाता है।
घोषणा के बाद शेयर चढ़ता क्यों है?
इसका कोई ठोस या बुनियादी कारण नहीं बताया जा सकता। एक ओर तो बोनस जारी करने वाली कंपनी के बारे में निवेशकों की यह धारणा बनती है कि कंपनी नकद रिजर्व के मामले में बहुत मजबूत है और दूसरा लाभांश के तौर पर मिलने वाली रकम दोगुनी हो जाती है। इन सबसे कंपनी के शेयरों की मांग बढ़ जाती है।
साथ ही बोनस के बाद क्योंकि कंपनी के शेयरों की कीमत उसी अनुपात में कम हो जाती है, तो उनका दैनिक कारोबार भी काफी बढ़ जाता है।
साथ ही बोनस के बाद क्योंकि कंपनी के शेयरों की कीमत उसी अनुपात में कम हो जाती है, तो उनका दैनिक कारोबार भी काफी बढ़ जाता है।
बोनस इश्यू से शेयरधारकों को क्या फायदा होता है?
एक तरह से कुछ भी नहीं। आम धारणा है कि बोनस शेयरधारकों के लिए काफी फायदेमंद होता है, लेकिन अगर कीमत के लिहाज से देखा जाए तो इसका कोई खास फर्क नहीं पड़ता। मान लें कि आपके पास 100 शेयर हैं और कंपनी ने एक पर एक शेयर के बोनस की घोषणा की तो आपके पास कुल शेयरों की संख्या बढ़कर 200 हो गई। इसी तरह अगर बाजार में कंपनी के एक करोड़ शेयर हैं तो उनकी संख्या दो करोड़ हो जाएगी। लेकिन इसी अनुपात में कंपनी की बाजार पूंजी में बढ़त नहीं हो सकती।
इसलिए एक्स-बोनस यानी बोनस शेयरों के बाजार में आने के साथ ही सैद्धांतिक रूप से शेयरों के न भाव गिरकर आधे हो जाते हैं, यह अलग बात है कि व्यवहारिक तौर पर भाव बिल्कुल आधे नहीं होते, बल्कि उसी के आस-पास होते हैं।
इसलिए एक्स-बोनस यानी बोनस शेयरों के बाजार में आने के साथ ही सैद्धांतिक रूप से शेयरों के न भाव गिरकर आधे हो जाते हैं, यह अलग बात है कि व्यवहारिक तौर पर भाव बिल्कुल आधे नहीं होते, बल्कि उसी के आस-पास होते हैं।
बोनस इश्यू क्या होता है?
जब शेयरधारकों को अपने पास मौजूद शेयरों के एक खास अनुपात में मुफ्त शेयर मिलते हैं, तो उसे बोनस इश्यू कहते हैं। जैसे अगर कोई कंपनी 2:5 का बोनस जारी करती है तो इसका मतलब आपके पास मौजूद हर पांच शेयर पर आपको 2 मुफ्त शेयर मिलेंगे।
कंपनिया क्यों जारी करती हैं बोनस इश्यू?:
जब कंपनियों के पास नकद रिजर्व बहुत ज्यादा हो जाता है, तो कंपनियां बोनस इश्यू जारी करती हैं। इससे कंपनी डिविडेंड के तौर पर अपने शेयरधारकों को ज्यादा रकम देती है। दूसरे शब्दों में कंपनी के नकद रिजर्व का बड़ा हिस्सा कंपनी के बही-खाते से निकलकर प्रमोटर के निजी खाते में आ जाता है, क्योंकि कंपनी का सबसे बड़ा शेयरधारक अमूमन उसका प्रमोटर ही होता है।
कंपनिया क्यों जारी करती हैं बोनस इश्यू?:
जब कंपनियों के पास नकद रिजर्व बहुत ज्यादा हो जाता है, तो कंपनियां बोनस इश्यू जारी करती हैं। इससे कंपनी डिविडेंड के तौर पर अपने शेयरधारकों को ज्यादा रकम देती है। दूसरे शब्दों में कंपनी के नकद रिजर्व का बड़ा हिस्सा कंपनी के बही-खाते से निकलकर प्रमोटर के निजी खाते में आ जाता है, क्योंकि कंपनी का सबसे बड़ा शेयरधारक अमूमन उसका प्रमोटर ही होता है।
Sep 28, 2010
TV channels bet on mega stars to garner Rs 270 crore
Three big-budget celebrity reality shows that will hit the idiot box this festive season are expected to garner over Rs 270 crore of advertising revenue — nearly 10 per cent of the total revenues that Hindi general entertainment channels (GECs) normally get in a year.
The three are Kaun Banega Crorepati 4 on Sony, anchored by Amitabh Bachchan; Bigg Boss 4 on Colors, starring Salman Khan; and Masterchef India on STAR Plus with Akshay Kumar. Hindi GEC channels, according to an Ficci-KPMG study, garner Rs 2,200 crore of ad revenues annually.
The channels have together forked out a little over Rs 100 crore just to get the celebrities to anchor the mega programmes. For them, the success or failure of these will determine who is on the top in viewership. Which will depend on whether these stars — who have not always set viewers on fire in anchoring earlier programmes — can show their earlier magic.
Amitabh Bachchan, hosting KBC 4, is charging around Rs 1.5 crore per episode, according to industry sources. At 36 episodes, he would pocket Rs 54 crore from the show. Akshay Kumar, donning the cook's cap in Masterchef India, would make around Rs 30 crore from the show, at between Rs 1.2 crore and Rs 1.5 crore per episode. Salman Khan in Bigg Boss 4 will earn Rs 17 crore, at Rs 1.2 crore per episode of appearance. While Bigg Boss 4 will be on air for 96 episodes, Salman is expected to make only 14 appearances.
The three stars have not only raised their fee but also swapped channels this season. While Bachchan will be seeing a completing his multiple channel tour with Sony (he had earlier appeared in STAR Plus and Colors as show host), Salman has moved from Sony (where he hosted Dus Ka Dum) to Colors. Akshay Kumar has moved to STAR Plus from Colors, where he hosted Khatron Ke Khiladi.
STAR POWER
Show Anchor Number of
episodes to
appear in Fee
charged
(Rs crore)
KBC 4 (Sony) Amitabh Bachchan 36 54
Big Boss 4
(Colors) Salman Khan 14 17
Masterchef
India (Star Plus) Akshay Kumar 22 30
The fees of these three have jumped by almost 50 per cent since they made their TV debut. When KBC was launched in 2000, Bachchan used to get Rs 75-80 lakh per episode; it went up to Rs 1 crore each for KBC2. When he hosted Bigg Boss last year, he charged Rs 1 crore per episode. Akshay Kumar made his TV debut with Rs 80 lakh per episode for the first season of KKK, which went up to Rs 1 crore in the second season of the show. Salman Khan charged Rs 80 lakh per episode for the first season of Dus ka Dum, which went up to Rs 1 crore per episode in the second season.
Ratings drop
However, the TV ratings (TVR) of the shows have not grown in proportion. During the first season in 2000, KBC clocked an average TVR of 9.8 and the second one of 10.6 — a feat not repeated on Indian television. The third season, with Shah Rukh Khan as host, recorded an average of just 6.8. Considering that a show with a TRP of 5 is considered a hit today, due to the increase since in the number of channels, there is still steam left in the show, say industry observers.
Salman Khan’s Dus Ka Dum had seen a fall in ratings from an average TVR of 2.35 in the first season to 1.96 in the second one. Fear Factor I, hosted by Akshay Kumar, had an average TVR of 2.48 and the second season scored a higher one of 3.3.
Madison World’s chairman and managing director, Sam Balsara, attributes the drop in TVRs to the growing fragmentation in TV space. “As the number of channels available to viewers has gone up manifold, there has been a general downward trend in ratings,” he says.
Media planners said for advertisers there will not be a viewership fragmentation, as these shows will be aired on different timings. Master Chef will be aired on Saturday and Sunday at 9 pm from October 16. KBC 4 will be aired from October 11 at 9 pm, Monday to Thursday. Big Boss 4 begins on October 3 and will be aired at 9 pm.
Industry sources say 10-second ad slots for KBC 4 have been sold for Rs 3.5 lakh each and ad time on Colors and STAR Plus have been sold in a similar range.
“Although Salman Khan is pitted against Amitabh Bachchan, there will not be a fragmentation in viewership, as both stars have a huge fan following,” a media planner said.
The three are Kaun Banega Crorepati 4 on Sony, anchored by Amitabh Bachchan; Bigg Boss 4 on Colors, starring Salman Khan; and Masterchef India on STAR Plus with Akshay Kumar. Hindi GEC channels, according to an Ficci-KPMG study, garner Rs 2,200 crore of ad revenues annually.
The channels have together forked out a little over Rs 100 crore just to get the celebrities to anchor the mega programmes. For them, the success or failure of these will determine who is on the top in viewership. Which will depend on whether these stars — who have not always set viewers on fire in anchoring earlier programmes — can show their earlier magic.
Amitabh Bachchan, hosting KBC 4, is charging around Rs 1.5 crore per episode, according to industry sources. At 36 episodes, he would pocket Rs 54 crore from the show. Akshay Kumar, donning the cook's cap in Masterchef India, would make around Rs 30 crore from the show, at between Rs 1.2 crore and Rs 1.5 crore per episode. Salman Khan in Bigg Boss 4 will earn Rs 17 crore, at Rs 1.2 crore per episode of appearance. While Bigg Boss 4 will be on air for 96 episodes, Salman is expected to make only 14 appearances.
The three stars have not only raised their fee but also swapped channels this season. While Bachchan will be seeing a completing his multiple channel tour with Sony (he had earlier appeared in STAR Plus and Colors as show host), Salman has moved from Sony (where he hosted Dus Ka Dum) to Colors. Akshay Kumar has moved to STAR Plus from Colors, where he hosted Khatron Ke Khiladi.
STAR POWER
Show Anchor Number of
episodes to
appear in Fee
charged
(Rs crore)
KBC 4 (Sony) Amitabh Bachchan 36 54
Big Boss 4
(Colors) Salman Khan 14 17
Masterchef
India (Star Plus) Akshay Kumar 22 30
The fees of these three have jumped by almost 50 per cent since they made their TV debut. When KBC was launched in 2000, Bachchan used to get Rs 75-80 lakh per episode; it went up to Rs 1 crore each for KBC2. When he hosted Bigg Boss last year, he charged Rs 1 crore per episode. Akshay Kumar made his TV debut with Rs 80 lakh per episode for the first season of KKK, which went up to Rs 1 crore in the second season of the show. Salman Khan charged Rs 80 lakh per episode for the first season of Dus ka Dum, which went up to Rs 1 crore per episode in the second season.
Ratings drop
However, the TV ratings (TVR) of the shows have not grown in proportion. During the first season in 2000, KBC clocked an average TVR of 9.8 and the second one of 10.6 — a feat not repeated on Indian television. The third season, with Shah Rukh Khan as host, recorded an average of just 6.8. Considering that a show with a TRP of 5 is considered a hit today, due to the increase since in the number of channels, there is still steam left in the show, say industry observers.
Salman Khan’s Dus Ka Dum had seen a fall in ratings from an average TVR of 2.35 in the first season to 1.96 in the second one. Fear Factor I, hosted by Akshay Kumar, had an average TVR of 2.48 and the second season scored a higher one of 3.3.
Madison World’s chairman and managing director, Sam Balsara, attributes the drop in TVRs to the growing fragmentation in TV space. “As the number of channels available to viewers has gone up manifold, there has been a general downward trend in ratings,” he says.
Media planners said for advertisers there will not be a viewership fragmentation, as these shows will be aired on different timings. Master Chef will be aired on Saturday and Sunday at 9 pm from October 16. KBC 4 will be aired from October 11 at 9 pm, Monday to Thursday. Big Boss 4 begins on October 3 and will be aired at 9 pm.
Industry sources say 10-second ad slots for KBC 4 have been sold for Rs 3.5 lakh each and ad time on Colors and STAR Plus have been sold in a similar range.
“Although Salman Khan is pitted against Amitabh Bachchan, there will not be a fragmentation in viewership, as both stars have a huge fan following,” a media planner said.
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