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Infinity (NYSE:INR) Stock, Option Chain

Infinity Natural Resources Inc is an oil and natural gas exploration and production company. The group focused on developing unconventional reserves in Appalachia. It is engaged in acquiring, exploring, and developing properties for producing oil, natural gas, and natural gas liquids (NGLs) from underground reservoirs.

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Morgan Stanley Market Vectors Rupee/USD ETN

Don&#39;t You Forget About Rupee...ETFs

Economics

Indian Rupee Rises Against U.S. Dollar

Indian Rupee Falls Against Euro as Indian Economy Slows

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Infinity Natural Resources IPO Shares Open For Trade At $22.225/Share

Infinity Natural Resources IPO Indicating $23/Share; IPO Priced Between $18-$21/Share

Infinity Natural Resources, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INR#NYSE">INR</a>) IPO will take place January, 31 on the NYSE exchange under the ticker INR.
The company is offering shares at an expected price between $18.00 and $21.00 per share with an insider lock-up period of 180 days ending on July 30, 2025.
See also: <a href="https://www.benzinga.com/calendars/ipos">Benzinga IPO Calendar</a>
<h3>About Infinity Natural Resources, Inc</h3>
Infinity Natural Resources, Inc is growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin
See also: <a href="https://www.benzinga.com/short-interest">Benzinga's Most Shorted Stocks</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Infinity Natural Resources, Inc IPOs Tomorrow, Here's What You Need To Know

Indian Rupee Drops to Record Low Against Dollar, USD/INR Rises to 60.765

Exchange traded funds devoted India, Asia's third-largest economy and the "I" in the famous BRIC acronym, have come to life in recent weeks. That assertion is fortified by an 8.3 percent gain for the WisdomTree India Earnings ETF (NYSE: <a class="ticker" href="/stock/epi#NYSE">EPI</a>) over the past month. However, it is not just equity-based India ETFs that are worth a look.

	Investors looking for emerging markets currency exposure may want to consider the Indian rupee as government tax reforms and, perhaps surprisingly, interest rate reductions by the Reserve Bank of India boost the rupee's allure.

	"As a result of lowered borrowing costs and rebounding growth, we believe money may continue to flow into the Indian economy through accelerating foreign direct investment (FDI)," WisdomTree Portfolio Manager Rick Harper said in a new research note.

	ETF investors looking for a way to play a rising rupee have a couple of options, but it should be noted the Market Vectors Indian Rupee/USD ETN (NYSE: <a class="ticker" href="/stock/inr#NYSE">INR</a>) does not get around to trading everyday. The preferred option here is the WisdomTree Indian Rupee Fund (NYSE: <a class="ticker" href="/stock/icn#NYSE">ICN</a>), which has climbed 1.2 percent in the past month.

	Part of the bull case for the rupee and ICN centers around the fact that the Indian currency looks grossly undervalued relative to the U.S. dollar.

	"Flows from abroad could then give a lift to the rupee, a currency we believe to be undervalued compared to the U.S. dollar. According to the IMF, the Indian rupee is currently undervalued by nearly 62% versus the U.S. dollar," <a href="http://www.wisdomtree.com/blog/index.php/indian-rupee-are-investors-overlooking-an-opportunity/?elqCampaignId=374">said Harper in the note</a>.

	Inflation, often cited as the biggest economic problem in India, has ebbed in recent months, giving the central bank there room to lower rates by 0.25 percent to 7.25 percent. At 7.25 percent, India's rates are below those found in Brazil and Russia, but India still has some of the highest short-term rates in the developing world. At the end of March, the implied yield on three-month forward rupee contracts was closer to 7.7 percent, according to WisdomTree.

	The three-month foreign exchange volatility on the rupee is higher than that of the Brazilian real, the Russian ruble and the South African rand, just to name a few.

	"The notion of implied yield means that, should the value of the rupee not change against the U.S. dollar, the return embedded in the forward currency contract would be 7.68% on an annualized basis," said Harper. "For currency investors, this interest rate provides a ‘cushion' of returns that could potentially mitigate or offset losses, should the rupee depreciate against the U.S. dollar."

	ICN, which turns five years old next week, has an embedded income yield of 4.36 percent and $26.1 million in assets under management. The ETF has an annual expense ratio of 0.45 percent.

	For more on India, click <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/04/3534252/an-almost-rally-for-india-etfs">here</a>.

Don't You Forget About Rupee...ETFs

The Indian rupee rose against the U.S. dollar on Monday, following <a href="http://www.business-standard.com/india/news/asian-currencies-gainthird-weekrising-rates-us-economic-risk-/437855/">speculations of interest rates increases</a> in the Asian giant. The Indian economy, along with other BRIC economies, has been recovering rapidly from the financial crisis that struck down many developed nation's economies. Now it seems that interest rates will have to go up in order to fight off inflation.

On the other side, the developed nations are still struggling to put their recovery on a firm foothold. Following disappointing jobs market data, it does not seem the Fed will start raising interest rates just yet. As a result, the rupee strengthened against the U.S. dollar. At around 12:30 pm GMT, the greenback traded around 44.7650, or 0.13% below Friday's close. 

At the same time, the rupee added some value against the euro as well. The euro is trading around 65.3692, or 0.36% lower than Friday's close. The Socialist government in Portugal was soundly defeated in Sunday's parliamentary elections. Some investors might fear that the new center-right government, that is likely to be formed, will be unwilling to implement steep and painful cuts, needed to bring the country's budget deficit within the EU guidelines, in order to maintain its popularity rating.

Traders who believe the Indian economy will continue to push forward, which would add additional steam to the country's currency, will be interested in the Market Vectors Indian Rupee/USD ETN (NYSE: <a class="ticker" href="/stock/inr#NYSE">INR</a>) and the WisdomTree Dreyfus Indian Rupee Fund (NYSE: <a class="ticker" href="/stock/icn#NYSE">ICN</a>).

The Indian rupee fell against the euro on Tuesday as the Indian economy slowed down. According to the <a href="http://www.bloomberg.com/news/2011-05-31/indian-gdp-growth-slows-to-7-8-pressure-for-interest-rate-rises-remains.html">Central Statistics Office data</a>, the Indian economy expanded 7.8% in Q1 on a yearly basis, down from 8.3% in Q4 2010. The rupee fell against the euro on the news. The euro stood at 64.7143 around 6.40 am GMT, or 0.55% higher than yesterday's trade. The Indian economy is still growing strongly, however, and the rupee strengthened against the dollar. The dollar traded around 45.0250 or 0.31% below Monday's close. 

Traders who believe the strength of Indian economy will push the value of rupee higher will be interested in the WisdomTree Dreyfus Indian Rupee Fund (NYSE: <a class="ticker" href="/stock/icn#NYSE">ICN</a>) or the Market Vectors Indian Rupee/USD ETN (NYSE: <a class="ticker" href="/stock/inr#NYSE">INR</a>).

Following weeks of speculation that India would act to curb rising inflation in the world's second-fastest growing economy, the The Reserve Bank of India increased the reverse repurchase rate to 4.5% from 4% and the repurchase rate to 5.75% from 5.5%.
There are a couple of ETF plays on the Indian Rupee that might be worth a look on this news. The WisdomTree Dreyfus Indian Rupee ETF (NYSE: <a class="ticker" href="/stock/icn#NYSE">ICN</a>) uses currency contracts and currency swaps to create the effect of a money market account denominated in Rupees. The average contract maturity is 90 days or less.
The Market Vectors Rupee/USD ETN (NYSE: <a class="ticker" href="/stock/inr#NYSE">INR</a>) uses three-month currecny swaps to measure the Rupee's strength against the U.S. Dollar. INR rolls its swaps every three months. 
Both ETFs suffer from low liquidity and small asset bases, but if you're going to pick one, go with ICN due to the better liquidity.

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ETF Plays For India's Interest Rate Hike

According to Caso of Wells Fargo Securities, “In contrast to recent quarters where fluctuations of the Indian Rupee (<a class="ticker" href="/stock/inr#">INR</a>) / US Dollar (<a class="ticker" href="/stock/usd#">USD</a>) relationship have been center stage, depreciation of major European currencies is the primary concern in CQ1, in our view. The USD has appreciated 6-7% q/q relative to the Pound Sterling (GBP) and Euro (EUR), which could create a drag of one to two points on revenue growth for the offshore services providers compared to guidance. We estimate the INR/USD has appreciated about 1% q/q, so the impact on operating margin is expected to be minimal.”
Wells Fargo Securities mentions, “We reiterate our Market Weight rating on the offshore sector as we believe current valuation reflects a rather strong economic recovery in CY2010, which we believe still remains fairly uncertain. We view the shares of Outperform rated Cognizant (NASDAQ: <a class="ticker" href="/stock/ctsh#NASDAQ">CTSH</a>) as offering the most upside potential among the offshore providers.”
<a href="http://www.benzinga.com/analyst-ratings">More Analyst Ratings here</a>

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CTSH

Cognizant (CTSH) Offers The Most Upside Potential Among Offshore Providers

In the back drop of a strengthening dollar against the Indian Rupee (<a href="/stock/inr">INR</a>), here is a recommendation from Citigroup (NYSE: <a href="/stock/c">C</a>). 
According to Reuters, Citigroup Inc.’s Indian Analysts Chintan Gandhi and Subodh Kumar are bullish about the medium term prospects of Indian Rupee through non-deliverable forwards (NDFs). They felt that Indian Rupee was the cheapest Asian Currency after the Korean Won (KRW). 
The analysts set a target of 44.70 against the dollar and set a stop at 48.25. The spot is at 46.89. As there is a likelihood of an increase in inflation, India’s Central Bank, The Reserve Bank of India (<a href="/stock/rbi">RBI</a>) may increase the interest rates. Citigroup feels that that may have an impact on the stock market. This may also indirectly affect the Rupee. The analysts recommended selling 3 month NDFs at 47.05.

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