Europe Negetive

Europe opens negative, FTSE closed, CAC (-37, 4363), DAX (-22, 6319). Asia closes positive, HangSeng (+712, 21104), Nikkei (+213, 12878). (1.50 p.m.)

Q1 GDP expection 7.7%

india to announce Q1 GDP on 29th august, mkt expectation 7.7%

SEBI Board To Meet Next Week To Review FII Regulations

SEBI Board To Meet Next Week To Review FII Regulations. Norms Relating To P-Notes May Be Revisited. SEBI Chief, Sections Of Board Want Review Of Norms For P-Notes KYC Norms For FIIs May Be On The Cards.Sec Lending & Borrowing Mech To Also Be Discussed.

NEW ANNOUNCEMENT BY IRDA

NEW ANNOUNCEMENT BY IRDA: Insurance regulator Insurance Regulatory and Development Authority (IRDA) has announced fresh investment guidelines that seek to create a level playing field between private players and LIC (Life Insurance Corporation). The biggest impact of these guidelines will be on LIC. Earlier LIC was allowed to hold up to 30% of stake in any company but now it may be able hold only up to 10%. It may have to dilute stake in companies where holding is more than 10%. LIC currently holds more than 10% in companies such as Ranbaxy, Mahindra, L&T

Wrestler Sushil Kumar wins bronze

Wrestler Sushil Kumar claimed India's second medal at the Beijing [Images] Olympics [Images] when he won the bronze in the 66kg Freestyle event on Wednesday.

Kumar beat Kazakhstan's Leonid Spiridonov 3:1, with scores of 2-1, 0-1, 1-0 in the three rounds.

Spiridonov had finished fourth in the 66kg weight class in Athens, while Kumar took 14th place.

This is the first time since 1952 Helsinki Olympics that India has won two medals in a single Olympics.

Khashaba Dadasaheb Jadhav was the last Indian wrestler to win a medal, when he won bronze in 1952.

Earlier, Abhinav Bindra [Images] gave India its first individual Olympics gold medal when he won the 10 metre Air Rifle event.

Sushil Kumar, who had a bye in the first round, lost to Ukraine's Andry Stadnik 1-8 in the pre-quarter-finals on technical points.

But, despite the defeat and because of the bye, he got to fight the United States' Dough Schwab in a repechage bout, which he won 3-1 and earned the right to meet Albert Batyrov of Belarus next.

The Indian won this round too 3-1 to make it to the bronze medal round, where he beat Spiridonov.

Ramazan Shahin of Turkey took the gold, defeating Stadnik, Sushil Kumar's conqueror in the pre-quarter-finals.

In the gold medal bout, Stadnik took the first period 2-2 by scoring the last point. Shahin then clawed back to take the next 2-1. The deciding period was 2-2 after the first two minutes, but Shahin scored the last point and thus won the bout.

This is the first gold medal won by Turkey at the Beijing Games' wrestling tournament.

Men's 66kg freestyle first and second repechage round results:

Second repechage round: Sushil Kumar (India) beat Albert Batyrov (Belarus) 3-1
Geandry Garzon (Cuba) beat Mehdi Taghavi (Iran) 3-1

First repechage round Sushil Kumar (India) beat Doug Schwab (US) 3-1

Source : rediff.com

Beijing Olympics 2008 - India Won Bronze

Beijing Olympics 2008 - India Won Bronze
India won 2nd (second) medal of Beijing Olympics 2008

In wrestling Indian Sushil Kumar Won Bronze
in 66kg Freestyle

This is 1st time, India ever won 2 medals in single Olympic

Wrestler Sushil Kumar wins bronze

Wrestler Sushil Kumar wins bronze

Sushil Kumar gave India it's second medal at the Beijing Olympics as he won the bronze in the Men's Freestyle 66kg bout against Leonid Spiridonov of Kazakhstan.

Wrestling india win bronzeeeeeeeeee

Wrestling india win bronzeeeeeeeeee

In wrestling Sushil Kumar won bronze

India Win Bronze!!!

CHEEERRRRRRRRRRRRRRRRRRSSSSSSSSS FRIENDS ... FOR THE FIRST TIME IN HISTORY OF OLYMPICS INDIA WON 2 MEDALS .. ABHINAV WITH GOLD IN SHOOTING AND SUSHIL WITH BRONZE IN WRESTLING REAL PARTY TIME ... SAY TO MEDIA DONT GIVE ANY MORE HYPE TO SANIA MIRZA

Inflation Hits 13-yrs High

Inflation 12.44% for week ended 2-Aug-08

Inflation Hits 13-yrs High

if u see inflation its due to food ....rasing interest rate wont solve the problem as fopod prices have no correlation with interest rates

INFLATION AT 12.44% V/S 12.01% FOR WEEK ENDED AUG 2

INFLATION AT 12.44% V/S 12.01% FOR WEEK ENDED AUG 2

Inflation likely to touch 13-14% by October, says ABN Amro chief

"Inflation is likely to touch the 13-14 per cent mark by October, but it may soften after that," ABN Amro Bank's India chief Meera Sanyal told reporters in Mumbai on August 12.
Sanyal also said there has been a slight increase in increase in delinquencies in the credit card and personal loan portfolios of banks and attributed it to higher interest rates.
On corporate growth, Sanyal said that in the medium-term, there may be some slowdown, "but in the longer-term, it will remain robust."
She said that despite a slowing down in crude prices, inflation in the country was likely to touch the 13-14 per cent mark by October. "But inflation should come down post-October," she added.
Given the good monsoon expectations, there are already signs of food prices coming down, she said.
On ABN Amro Bank's rebranding into RBS, Sanyal said that the bank was in constant discussions with the Reserve Bank on the matter. "We are in constant touch with the RBI (on the rebranding issue)," she said. The entire process may take up to the middle of next year, she said.

Inflation may touch 13%; growth to slip to 7.7%: Rangarajan

There will be no respite from rising prices in the immediate run, with PM's Economic Advisory Council on Wednesday suggesting that inflation may touch 13 per cent while the GDP growth rate is expected to slide to 7.7 per cent from 9 per cent recorded last year.
"For some more time inflation can increase. It could touch 13 per cent, but by December it will start declining and is likely to moderate to 8-9 per cent by March 2009," said outgoing chairman of the PMEAC C Rangarajan while releasing the Economic Outlook for 2008-09.
Approving the Reserve Bank of India's [Get Quote] tight monetary policy to contain inflation, which has touched the 13-year-high mark of 12 per cent, Rangajaran said, "It (inflation) could be brought down to 8-9 per cent by March 2009 through coordinated policy action."
Inflation, the silent killer: Complete Coverage
As regards the Reserve Bank of India's Monetary Policy, Rangarajan, who is also a former RBI Governor, said: "The tight monetary stance needs to be maintained till the pace of inflation comes down."
Justifying the 7.7 per cent economic growth projection for 2008-09, Rangarajan said, "There is a slowdown in agriculture, industry and services and the global environment is not very conducive to growth. This will affect Indian economy as well."
The agriculture production is likely to grow at a lower pace of 2 per cent in the current year as against the 4.5 per cent in last fiscal, he said adding industrial output is expected to decelerate to 7.5 per cent from 8.5 per cent and services to 9.6 per cent against 10.8 per cent in 2007-08.
The new chairman of the PMEAC, Suresh Tendulkar said 7.7 per cent economic growth rate will not be "unrespectable and would be second highest growth rate by any country."
Another PMEAC member G K Chadha said, 7.7 per cent growth rate would be "very respectable. . . one should not forget that there are business cycles and growth cannot move only in one direction."
Rangarajan attributed the slowing down of the economic growth to factors like rising oil and food prices in international market and global slowdown triggered by sub-prime crisis in the United States.
Adverse global environment, he added, will have implications for the current account deficit which is expected to rise sharply to 3.2 per cent from 1.5 per cent in 2007-08.
Pointing out that the surge in inflation was mostly on account of surging global commodity prices, the EAC said there were serious fiscal risks arising from growing off-budget liabilities, which had been estimated at 5 per cent of GDP.
"Implementation of the rural employment guarantee programme and Sixth Pay Commission's report, we think, will take total deficit to 5 per cent. This is very large fiscal deficit", Rangarajan said.
The PMEAC further said that while the fiscal deficit targets would not be met, the revenue deficit would persist.
The government has already referred the issues concerning accounting of off-budget subsidies to the 13th Finance Commission, he said adding "as long as they are small there is no problem. . . but today off-budget liabilities because of oil bonds and other factors have become significant."

Inflation has shot up to 12.44 per cent!

Inflation has shot up to 12.44 per cent!

Despite the government's efforts to control prices, inflation continues to rise and is now at its highest in over thirteen years, as prices of pulses, spices, eggs, fish and meat among other things continued to rise.
The government on Thursday put the inflation for the week ended August 2 at 12.44 per cent, a rise of 0.43 per cent increase over that recorded in the previous week, even as the finance ministry said that the rate of price rise was "stable" on a week-on-week basis and that the Sixth Pay Commission recommendations will not affect inflation further.
As per the data released today, prices of most of food articles went up, although some items like fruits showed downward trend, said official figures released.
In its statement, the ministry said out of a total 98 primary articles, prices of 18 have declined as compared to the previous week.
Finance Minister P Chidambaram had said at a meeting of Congress spokespersons that government was open to bringing more commodities under the futures trading ban. Eight farm commodities, including rice and wheat, are already banned for the purpose of forward trading.
Meanwhile, prices of iron and steel remained unchanged but cement prices marginally increased. For the corresponding week, inflation stood at 4.70 per cent a year ago.

Source - rediff.com

Inflation 12.33%

INDIA INFLATION COMES @ 12.44 % VS 12.01 %

Wise words from Chandrakant Sampat

Dear Investors
Wise words from an experienced investor. I always value people who have seen it all over 50 years, their perspective is polished and they can catch long term patterns that endure.....Nowadays people only follow Shankar Sharma technical outlook rather than looking at hardcore investors
Chandrakant Sampat, Stock Investor - "Social awareness lacking"
He quit his family business in 1955 and started investing in the stockmarket. Today, at 80, he is one of the oldest investors in Indian equities. He shares his views on investing...
How have the markets changed in the last 43 years that you have been an investor?

Markets are totally different now. I went to the market in 1955. Earlier, the Controller of Capital Issues decided the price at which a public issue could be priced. Secondly, it was compulsory for any foreign company to get into India to offer at least a portion of its total issue to the public. It was very economical to go to the market then. All you needed was a cheque book and a slip book and, most importantly, merchant bankers did not have a say on what the price of a public issue would be.
In 1979, Hindustan Lever [Get Quote] went public. The shares were offered at Rs 16 each and the total distribution of dividend was Rs 32 crore - that was Rs 2 per share. This means that we were offered a share at 11 or 12 per cent yield. Today, the index yield is 0.85. The only question then was how do you choose which company to invest in.
This was great not only for the Indian shareholders but also for the Indian society. Institutions like LIC (Life Insurance Corporation) could afford to build a substantial amount of corpus on their retirement funds. Think of Reliance Power now.
Rupees ten became Rs 450 in six months and the public bid at Rs 900. For a company that will go into production in 2016. If this instrument lies on the balance sheet of institutions that provide retirement funds and pension money, can they ever make up the loss? The capital market has lost its social awareness.
Has your stock selection process changed over the years?
No, it has not. I have a four-fold process of stock selection. First of all, it must be a business that I am able to understand. If it is an industry that I have no idea about, then I will not look at the company. Secondly, it should have zero or very little debt. Third, it must be earning 30 per cent on the capital employed. And it should be available at a price-earning ratio of 13-14 times the current year's earning. Ideally, it should be at 3.5-4 per cent yield.
There are very few such opportunities left, but whenever they come, I like to participate.
Are you optimistic about the future of the Indian capital markets?
I cannot say I am. Machiavelli said that if the law permits anyone to do anything they want, society will be destroyed. This capital market permits anyone to do anything. The result of this freedom will destroy this society. I am 80, I am not worried. But what about younger people? What will happen when you retire?
Today, mutual fund managers are rewarded on the basis of their performance and not on the basis of value. This triggers them to chase momentum and not value. Chasing momentum is nothing but gambling. You must remember that a history of good dividends is more valuable than how quickly the share price has gone up in the last few months.
There are no profits, there are only accrued costs not incurred. I don't have any accrued cost not incurred. Younger people have tremendous accrued cost not incurred. Are you saving enough to take care of this? If you are not, you are not getting any remuneration, you are losing, and so is society.
What is your advice to today's retail investors?
The big issue today is inflation. In my view, frugality can beat all inflation. I still don't own a car, I don't have a mobile. Ours is now an economy based on waste. If you change that, other factors will correct themselves. I am now only 30 per cent in equity, the remaining is in liquid instruments.
Happy InvestingPadmanabhanWealthbull-A Value Investing Theme & Team

Nestle India: A Future In Milk-Motilal Oswal

Nestle India’s 1HCY08 performance reaffirms our strong belief in the company’s growth potential. Its business strategy is in line with the parent's and we believe that its focus on innovation and renovation would help it to maintain leadership. Maggi noodles enabled 19.3% domestic volume growth in 1HCY08 Nestle has reported robust volume growth of 19.3% in domestic business in 1HCY08. Volumes of Prepared Dishes (noodles and culinary products) have grown 30% while Chocolate & Confectionary volumes have grown 20%. Dairy Products volumes have increased 10% while domestic Beverages volumes have grown in single digits. The company has been able to hold its leadership position in infant foods, noodles, ketchup, white chocolates, wafers, and coffee. Contribution of new products has grown 5x since CY03 Nestlé’s renewed focus on innovation and renovation has resulted in a 5x increase in sales of products/variants launched in the last three years. The company has entered functional foods and has launched NIDO (milk powder for children above two years), Milkmaid Funshake (flavored milk in five variants), MILO Smartplus (Rs88/500gm), Nesvita Multigrain breakfast cereal and Nesvita Pro Heart milk (with omega-3). It aims to achieve product differentiation based on cutting-edge research and speed of innovation which should ensure sustained competitive advantage and healthy profit margins. Management confident of maintaining margins Nestlé’s gross margins for 1HCY08 were flat despite a sharp run-up in input costs (prices of oils, green coffee, milk solids and wheat have increased by 23.5%, 21.7%, 10% and 5.4%, respectively). 9-10% increase in finished goods prices, 60bp gains from Pantnagar facility and sourcing advantages in liquid milk have enabled 60bp margin expansion in 1HCY08. The management is confident of maintaining margins. Best placed to tap processed foods opportunity; maintain Buy The management foresees huge growth potential, as consumers are indulging in choice-driven consumption for the first time and are more willing to experiment. Nutrition and wellness are becoming more relevant to top-end consumers; this should fuel the demand for functional foods. Nestle is well placed to tap incremental demand from the low end segment (MRP less than Rs10/SKU), which has grown at a CAGR of 20% since CY03. We believe that Nestle India's goals and strategies are in sync with the parent which will enable faster technology and new product knowhow transfer, making it best play in the processed food sector in India. The stock trades at 28.2x CY08E EPS of Rs59.6 and 22.2x CY09E EPS of Rs75.9. We maintain Buy with a target price of Rs1,900 – an upside of 13%.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints. Nothing in this article is, or should be construed as, investment advice.

Old Pine, Traxis and Helios Bet On India

Lone Pine Capital LLC, run by Stephen Mandel, and Traxis Partners LLC are among56 overseas funds that registered to buy shares in India in July, the most in six months, betting on a recovery in stocks. Helios Capital Management Pte and StonewaterCapital LLC also won approval from the nation's regulator, nine months after authorities forced hedge funds to register.

India's stock market recovered its $1 trillion in market value last month, helped by the biggest drop in commodity prices in 28 years. The new funds may help reverserecord sales of stocks by overseas investors that led to the biggest first-half slump in the Sensitive Index since its 1979 creation.
``India is one of the bigger beneficiaries of commodity and oil weakness as money flows from commodity-producer countries to consumers,'' said Samir Arora, who oversees $1billion at Helios Capital Management in Singapore and received regulatory approvalon July 21. ``Foreign institutional-investor selling has normally marked a bottom, it will be the same again.''
Investments in emerging markets including India may help revive returns in the $1.9 trillion hedge fund industry that's heading for its worst year in two decades after bets on U.S.financial stocks backfired. Banks and brokerages have written down $493 billion and raised $353 billion in capital since the start of 2007 as the U.S. subprime-mortgage market collapsed.Halted TradingProposals by the regulator in October to curb offshore investment vehicles used by hedge funds triggered a panic among investors that halted trading on Mumbai exchangesfor an hour and wiped out $100 billion of value in a day.
The funds were ordered to register in India to buy stocks, or given 18 months to sell their holdings. The tighter rules helped spark a sell-off of shares by investors based outside India, which have sold $6.4 billion of equities this year. Last year, global investors bought a record$17.2 billion of stocks, according to the regulator.
Caxton Associates LLC, an $11 billion fund started by Bruce Kovner, and Daniel Loeb's Third Point LLC are among 293 funds approved to buy shares in India this year, according the regulator's Web site. That's 20 percent of all registrations since the market was opened to foreign investment 15 years ago, according to calculations by Bloomberg News.
Middle East investors including the Brunei Investment Agency, the Abu Dhabi Investment Council and Qatar Insurance Co. can also buy equities in India for the first time as they seek greater returns on their oil earnings. The Gulf Cooperation Council states, whichtogether pump about one-fifth of the world's crude, earn more than $1.2 billion a day from oil sales.The following table is a list of funds registered with the Securities & Exchange Board of India since January 2008

Goldman gives the shove to Sesa Goa, Blackstone knocks off Zee News

13/8/2008
500295
SESA GOA LTD
GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD
S
374000
175.42
12/8/2008
500295
SESA GOA LTD
GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD
S
281282
178.04
13/8/2008
532794
ZEE NEWS
BLACKSTONE ASIA ADVISORS LLC AC THE INDIA FUND INC
S
2020000
40.17
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

Aug 13 2008: FIIs Sock Bombay Just Before The Independence Day

FII trading activity on NSE and BSE on Capital Market SegmentThe following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 13-Aug-2008.
FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category
Date
Buy Value
Sell Value
Net Value
FII
13-Aug-2008
1712.37
2627.95
-915.58
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

Tesco broadcasts global ambitions with move to supply Indian stores

Tesco is to supply thousands of India's smallest shopkeepers withsuper-market products after Britain's biggest retailer revealed plansfor its first foray into one of the world's fastest-growingeconomies.
Tesco ended months of speculation yesterday by announcing plans toopen a wholesale cash-and-carry business in India and to work withTata to develop the Indian conglomerate's hypermarket chain.
Tesco's first cash-and-carry will open in Bombay at the end of nextyear and the group will spend an initial £60 million on the ventureover the next two years. Tata will pay Tesco an undisclosed fee forthe supermarket giant's advice and expertise as it rolls itshypermarket chain - Star Bazaar - across India.
Sir Terry Leahy, chief executive of Tesco, said: “This is anotherexciting development for Tesco. It complements our entries into Chinaand the United States, giving us access to another of the mostimportant economies in the world.”
Tesco has been eyeing India for the past decade. Talks with BhartiEnterprises over a potential joint venture in the country broke downtwo years ago. Under Indian law, foreign retailers must partner Indianrivals when setting up a store network, but they can retain 100 percent control of a wholesale business.
Tesco's decision to launch a cash-and-carry chain means that itsinitial success will depend on the type of small shopkeepers that havebeen squeezed out in Britain by the unrelenting march of thesupermarket.
India's £185 billion grocery sector is still dominated by 12 millionkiranas, mom-and-pop-style family-owned shops, which are protected bythe country's strict legislation on foreign direct investment.
Modern hypermarket formats have only a 4 per cent share of the marketbut their sales are growing at about 30 per cent a year as the rapidgrowth of the Indian economy fuels greater wealth among the middleclasses. Tata operates four Star Bazaar hyper-markets but plans toincrease the number to 50 over the next five years.
Phil Clarke, Tesco's international and IT director, said he wasconfident that the company's Indian venture would be a success. “Themarket is so underdeveloped and growing so fast that it has got a hugepotential for a business like Tesco that focuses on customers,” hesaid.
“The kirana stores will judge us, not by what we say, but what we do,and hopefully they will become loyal customers of ours. We will getout there, give them prices they don't expect and quality they cannotbelieve.”
Tesco will supply a range of fresh produce and non-food items,including clothing and electricals, through the cash-and-carryoutlets. Some will bear the Tesco label.
Mr Clarke said there were no plans to stock ready-made meals,including curries. He said that it could take 18 months for the firstsignificant revenues to flow, but did not think this would place Tescoat too much of a disadvantage to Wal-Mart, which struck a deal withBharti a year ago.
He added: “We have handed the advantage to Wal-Mart. It would havebeen nice to have been there before, but you cannot have everything.”
The TimesOnline

India Eco: Major Slowdown in Investment Cycle Ahead

Investment cycle peaked in F2008:
Based on the trend in fundraising activity, it appears this capex could have increased to 37% of GDP in F2008 from 35.9% in F2007. The key driver of this improvement is the sharp pick up in private corporate sector investments to 16.1% of GDP in F2008 from the bottom of 5.2% in F2001.

Clear signs of slowdown over the last few months:
A number of indicators show that investments growth has decelerated over the last six months. Capital goods output growth has slowed to 6.8% during the three months ending June 2008, from the peak of 24.2% for the three months ending October 2007. Similarly, the trend for aggregate corporate fund raising has also suffered over the last six months.

Macro environment remains challenging:
We believe the combined impact of slowing domestic consumption, higher domestic cost of capital and reduced capital access from international capital markets will result in further major slowdown in investment cycle over the next 12 months.

Recovery unlikely until 2010:
We believe that even if some banks start to cut lending rates in the next six months, the overall borrowing costs will remain high until last quarter of 2009. Similarly, we do not see a quick revival in capital inflows over the next 18 months. We expect the aggregate investment to GDP ratio will decline to 32% in F2010 from 37% in F2008.

Repeat of mid-1990s cycle?
In the 1990s, the private corporate capex to GDP ratio increased to a peak of 10.4% in F1996 from 6.1% in F1994, but later declined gradually to 5.2% in F2001. We believe the current macro economic trend has many similarities to the 1990s cycle, but the duration of the down cycle will depend on the global macro environment particularly for emerging markets.

Hotels to hike tariffs from September by 50%

MUMBAI: Come September and major hotels across cities like New Delhi, Bangalore and Hyderabad will hike tariffs by 10-50%. Thanks to a steady tourist inflow, most hotels have decided to go ahead with a rate revision next month when their financial year begins. According to government estimates, foreign tourist arrivals rose 7.4% in July over the last year. With domestic tourism also generating good business, industry feels that major hotels are trying to cash in on the supply-demand mismatch. "Occupany rates have gone up since last September and is expected to continue this year.

SEBI & Brokers

Brokers will be levying SEBI Fees @ 0.0002% on the value of sale and purchase of securities in NSE CM and F&O segments with effect from August 18

NMDC Ltd

State-run Indian mining firm NMDC Ltd will sign an agreement next week with global miner Rio Tinto to buy mineral assets, the Indian Express newspaper said on Wednesday. The firms are likely to sign a deal on Aug. 18 to float a joint venture to buy mines within the country and abroad, the newspaper said. NMDC and Rio Tinto would jointly acquire, explore and develop mineral properties, Rana Som, chairman and managing director of NMDC, was quoted as saying by the newspaper. NMDC has been increasingly looking to foreign markets to secure raw material reserves, the paper said. With no fresh allocation of iron ore mines within the country, NMDC has signed a joint venture agreement with India's Spice Energy and was close to clinch a deal to acquire mines in mineral-ric

Tata Steel

corus realises $600 million improvement in internal performance, positive for tata steel

Japan's economy

Japan's economy contracted 0.6% in the second quarter, reinforcing views that the world's No.2 economy has slipped into recession after its longest postwar expansion. Japan Wholesale Inflation Jumps to 7.1%

The board of market regulator Securities & Exchange Board of India will review the regulatory framework governing participatory notes (PNs), at its meeting today, 13 August 2008. There are expectations that Sebi may relax some of restrictions on PNs that were introduced in October 2007. At that time, Sebi had proposed that foreign institutional investors (FIIs) and their sub-accounts cannot issue or renew PNs with underlying as derivatives with immediate effect. They had to unwind their current position within 18 months. The capital market regulator

39 items have been added in FNO from 21st Aug

39 items have been added in FNO from 21st Aug:
ABG SHIPYARD LTD AKRUTI ASIANPAINT BALAJITELE CONCOR COREPROTEC DCHL DISHTV EVERONN FSL GSPL GTLINFRA GVKPIL HCL-INSYS IBREALEST ICSA KLGSYSTEL KSOILS MIC MINDTREE MLL MONNETISPA MRF NBVENTURES NOIDATOLL OPTOCIRCUI ORBITCORP PRISMCEM PTC RIIL SINTEX SREINTFIN THERMAX TORNTPOWER TV-18 UCOBANK UTVSOF VOLTAMP WALCHANNAG (mkt info)

CLSA: Chinese Steel Mfg capacity at 400 mn tonnes per annum is ten times the size of India. Most Steel plants around Beijing have been closed for the past 45 days to clear Air around the City for Olympics. Post Olympics most of this excess Steel will no longer be needed, so plants hv to be kept closed or Steel dumped in Global markets...

SEBI can't control CNBC...something cooking there...

SEBI can't control CNBC......something cooking there...

pls pass that message - include my name if u wish and my ID - this is simply the lowest form of
journalism and the wilful rape and pillage of Indian traders and investors - --- do at least this much - SEBI wake up or Quit your job Mr. Bhavecnbc reporting infra numbers as iip numbers falsely some shorter massively stuck - 10 lakh NF was sold on that IIP news - now there are massive discussions on how to get out of this?

where the hell is SEBI

where the hell is SEBI - raghav bahl should be arrested for this false dissemination of information on CNBC - SEBi are you awake or deep in slumber

CNBC

CNBC (cartoon network for business community) foooling all again

Clarification: IIP June numbers yet to be announced

Clarification: IIP June numbers yet to be announced
Correction: Growth in six key infra industries at 3.4% realyy chor cnbc create paniccc

Infrastructure output Figure

Infrastructure output Figure : 5.02 Vs 3.4 (yoy)

IIP data 3.4%

IIP data 3.4%

Fin Min sources say: Govt Unlikely To Relax Norms For P-notes In Near TermTo Notify New Non-govt PF Invst Norms In 2-3 Days, To Introduce Pension Bill In Monsoon Session Of Parl

Credit Suies=While we upgraded our weighting on India only last week, client feedback indicates that we were late in upgrading India. The concern among clients was that the SENSEX was already up 15% (now up 19%) from its low of 16 July, when we upgraded and the last three bear rallies in the SENSEX averaged only 13)
● However, we believe this SENSEX rally could be longer than the last three bear rallies, as it is the only rally that started with a historical P/E that was at its historical average, the only rally with India trading at a discount to the region, and the only rally with cumulative net foreign selling in the previous 12 months.
● The three previous bear rallies started with India’s historical P/E ranging from 18.8-21.1x while this rally started from 16.1x. The three previous ra

CLSA India: The Rate Sensitives Are Back In The Fray (Christopher Wood) Banks, Real Estate and Construction, the building blocks of the Indian Economy would now be favoured over cyclicals like Steel. Interestingly those very sectors which brought Bombay down will help the resurgence.-Oil likely to drift to $ 100 per barrel -USD/Euro cross to move to 1.20-1.25-US Fed Funds rate will be further cut to 1 per cent.-Sell Commodity and Cyclicals, especially Steel. -Australia/New Zealand will be sold off-Within Asia Taiwan weightings cut by 1 per cent, Korea further underweighted by 1 per cent and Thailand holdings brought down to 0.-Indian holdings continue to be in and favour interest rate sensitives.

“Why would FIIs want to play the over-regulated SLB market, when the offshore market is far more efficient and a lot quicker,” says an official at the Indian arm of a US-based brokerage. At present, the tenure of a borrowing/ lending contract is seven days. This means that the borrowed shares have to be returned on the eighth day from transaction, to the lender. Market participants say this time frame is too short. In the OTC market, players have the flexibility to borrow shares for up to a month or more. But the bigger problem is that of margins

IIP DATA EXPECTED TOMMOROW

IIP DATA EXPECTED TOMMOROW - 8.9% ,WILL COME AT 10.98%,GOOD NEWS

us dollar v/s euro broken important level of 1.52 which suggest that us econonmy and us currency is getting stronger which will eventually reverse the whole commodities and crude cycle exit all silver gold and crude long postion

BSE plan to launch currency futures

BSE plan to launch currency futures by Sept The Bombay Stock Exchange is planning to launch Exchange Traded Currency Futures (ETCF) contracts by early September after SEBI officials inspect its system next week BSE has already applied with SEBI for setting up the currency derivatives segment and is in line with the recommendations made by RBI-SEBI Standing Technical Committee report on currency futures which was released in May. The ETCF contracts would facilitate more transparency, efficient price discovery, enable better better counter party credit risk management, wider participation and reduced transaction costs

Benefited Stocks, if INSURANCE BILL passed

Stock to be profited, if INSURANCE BILL passed by Govt who push in this session of parliament. LIC Housing, Bharti, Bajaj holdings, Bajaj Fin Serv, REL CAP, Aditya Birla Nuvo, HDFC, HDFC Bank, ING Vysya, Kotak Bank, SBI, IDBI. Etc

U.S. Wholesale Inventories Rise 1.1%, Faster Than Forecast; Sales Up 2.8%..........Worker Productivity in U.S. Rises 2.2% kets now DOW will ROCKKKKKKKKK ---- so will Indian mkts.........enjoyyyyyyyyyyyyyy

Kirloskar Brothers Ltd

fdw news - Ideas =Kirloskar Brothers Ltd= hold 95.95% stake in The Kolhapur Steel Ltd. (TKSL), which has become a subsidiary company of KBL w.e.f. 2 August 2008. The company has revised the prices of its products and is taking steps to increase prices and include the price increase clause in future orders. Its order position is very strong. The company also has investments worth of Rs.53 cr. whose market value is around Rs.860 cr. It is seeking price hike from all existing customers.

Companies engaged in the oil and gas exploration in Gujarat will have to pay more for using the state’s waters. They will now be charged for all the offshore as well as onshore installations required in exploratory as well as transportation work, as per a new tariff model approved by the state maritime regulator. This means laying pipelines—sub-sea and on land—setting up single-point moorings (SPMs), installing rigs, production drilling platform and other structures used for petroleum exploration will be chargeable. At present, wharfage levied on cargo and in some cases, throughput charges, are the only fees that the companies pay to the government. The new tariff model has been worked out by Chennaibased National Maritime Authority. The charges would be collected on various heads that inc

China's producer prices climbed at the fastest pace since 1996 on energy and commodity costs, underscoring the risk of a rebound in consumer-price inflation.
Factory-gate prices rose 10 percent in July from a year earlier, the statistics bureau said today, after gaining 8.8 percent in June. That was more than the 9 percent median estimate of 15 economists surveyed by Bloomberg News.

LT

LNT book closure from Aug 22, to Aug 29,for final dividend & Annual General Meeting (AGM) on Aug 29

Weekly Major Events

Major events to be watched in this week:- tomorrow 12th august, June industrial data (IIP data) and 13th (wednesday) SEBI meet to review FII regulations on P-notes

Abhinav Bindra wins 10m air rifle gold

Abhinav Bindra won the gold medal in men's 10 metre air rifle event of the shooting competition at Beijing Olympicson Monday morning.
The medal is India's first individual gold, and the first since 1980, when the hockey team emerged triumphant in Moscow .
Bindra shot a total score of 700.5.
China's Zhu Qinan, gold medalist at Athens 2004, won the silver medal with a total score of 699.7.
The bronze medal was won by Finland's Henri Hakkinen, who was leading the field after the qualification round, but was unable to hold off Bindra and Zhu in the final.
Bindra held his nerve to score 10.8 on the 10th and final shot, while Zhu shot 10.5 and Hakkinen fell back with a poor score of 9.7.
Earlier, Bindra ended the poor run of Indian shooters at the Olympics by qualifying for the men's 10 metres air rifle event final.
However, Gagan Narang failed to make the final cut in the same event as he finished ninth with a score of 595/600. Narang shot a series of 97, 100, 100, 100, 98, 100.
Bindra, a Khel Ratna winner, finished the qualifying event joint-fourth with Romania's George Alin Moldoveanu in the qualification round. The duo had a score of 596/600.
The bespectacled India shooter's scoring sequence was 100, 99, 100, 98, 100 and 99.
Meanwhile, Finland's Henri Hakkinen qualified first for the event with a score of 598/600 after shooting a series of 100, 100, 99, 100, 100 and 99.
China's Qinan Zhu was a point adrift of Hakkinen with a series of 100, 100, 100, 100, 99 and 98.

Source

New IPO System

A new payment system for Initial Public Offers that is aimed at not blocking investors' money till share are actually allotted will be launched as a pilot by August 10, stock market regulator SEBI said on Tuesday. "Hopefully by end of August, we will start the pilot project," SEBI Chairman C B Bhave told reporters on the sidelines of a seminar on financial planning. Initially, both the existing system of payment for public issues and the new alternate system will co-exist. "We really don't know how the system works. We need to get used to it. We have to sort out glitches if there are any in the beginning," Bhave said.

Jokes

years ago , people who sacrificed their sleep,family,food,laughter & joy of life.... were called SAINTS: but now theyr are called... SHAREHOLDERS

Bomb Blast In Banglore

bombs ...explodes in bangaloreOne In Nagarabhavi Circle & One more Thippegundehalli

Confirm it from your side also

Breaking News

BREAKING NEWS-Banking group RBS posts a pre-tax loss of £691m for the first half of 2008 - the second biggest loss in UK banking history

The Most Bearish Man in America Nouriel Roubini is an economics professor at New York University He predicted the housing collapse two years ago. He thinks hundreds more banks will fail. Yet he’s still a bull on emerging markets... Looking at the global economy, though, leads to a different conclusion for a simple reason: The dynamics that underpin the emerging markets boom aren’t flim-flam; they are real. The addition of 3 billion new capitalists into the mix -- China, India and ROW (analyst shorthand for “rest of the world”) -- is a game changer like nothing we’ve ever seen before

Euro on Low

Euro Slumps to Five-Month Low on Reduced Bets for Higher Rates

Hyderabad Metro Railway

hyderabad to get metro railways free of cost ..govt do not need to pay a single penny .... now all over states govt will do this

News 8-Aug-08

8-Aug-08
Headlines for the day

Corporate News Headline

• Tata Steel identified raw material resources in America, Africa, and Australia for acquisition to ensure that around 50% of the requirement of Corus is met through captive sources. (ET)
• Shiv-Vani Oil & Gas Exploration Services bagged an order worth Rs. 16.1 bn from ONGC for deployment of eight onshore deep drilling rigs. (BS)
• Bharat Electronic is planning to tap the lucrative business potential in the atomic energy sector. (BS)

Economic and Political Headline

• Crossing the 12% barrier for the first time in 13 years, inflation moved to 12.1% for the week ended July 26 on soaring food and non-food article prices. (ET)
• The mining industry said that India´s iron ore shipments have fallen by up to 20% in the last one month following imposition of 15% export duty and higher freight charges. (ET)
• The European Central Bank and the Bank of England left their key interest rates on hold at 4.25% and 5%, respectively, as both banks consider how to steer their economies between the shoals of mounting inflation and slowing growth. (WSJ)

Home Sales Data

DATAS-home sales data previous -4.9% expectation -1.0% actual +5.3% negative for metals,bullion .

EURO

Euro will fall and so Gold will be as per out expectation, do not buy gold sell on rise & if u trade currency sell EURO.The European Central Bank's governing council on Thursday left its key interest rate unchanged at 4.25%

Inflation 12.11%

INFLATION CAME OUT PLEASE CONFIRM FROM UR SOURCE IS THIS RIGHT THEN PLEASE TELL YES,INFLATION FIGS AT A WHOPPING 12.11% for the week ended 26th july vs 11.98%

Amar Sign + UPA = RNRL++++

AMAR SINGH SUPPORTING UPA MEANS RNRL GETTING GAS =RNRL 150+

NIIT Technologies

Content Rmoved Due to Legal Issue

News 7-Aug-08

7-Aug-08

Headlines for the day

Corporate News Headline

Tata Power is planning to bid for Senoko Power Ltd., Singapore’s largest power utility. (Bloomberg)
Hindustan Construction Company bagged an irrigation project in the south Indian state of Andhra Pradesh worth Rs. 6.29 bn. (BS)
Dr Reddy´s Labs’ promoter group firm Dr Reddy´s Laboratories Holdings has increased its stake in the company to 22.82% through open market purchase. (BS)


Economic and Political Headline

The government ruled out an immediate reduction in petrol and diesel prices following softening of global crude prices saying that the domestic rates were still pegged at roughly half of the current international prices. (BS)
The Finance Ministry said in a statement that the direct tax receipts in April-July rose an annual 46.9% on year to Rs. 716.48 bn. (ET)
The UK consumer confidence fell 11 points to 51 in July after house prices slumped, unemployment rose, and inflation accelerated. (Bloomberg)

Bull Run?

FII HAS BOUGHT 4000 CRORES IN CASH AND F&O COMBINED ..SHORTS BECAREFUL .... EVEN OIL IS LOOKING WEEK ...YEN $ 109+ WHICH MEANS YEN CARRY TRADE HAS STARTED

EIA Inventory's Actual Crude Oil +1.7mbbl, Distillate 2.8 mbbl and Gasoline -4.4 mbbl. Data is Neutral for Crudeoil

US data: 300 000 barrel Distillates 2.1 Gasoline DOWN 1.2.

Spot Exchange

Reliance Money and National Multi-Commodity Exchange (NMCE) on Tuesday said they will set up a spot exchange for agricultural products.

NYT: Falling Commodities Imply A Global Recession

Many Chinese have been expecting a post-Olympics economic slowdown, but it has already started and the Games have not even begun. Chinese factories reported a plunge in new orders last month. Exports are barely growing. The real estate market is weakening, with apartment prices sinking in southeastern China, the region hardest hit by economic troubles.

The trends, which actually have little to do with the Olympics (the Games themselves, which open Friday, are small compared with the size of the economy), are being felt worldwide.
China’s slowing growth is one reason that gasoline prices have fallen in the United States, for example. Similarly, world prices for metals like copper, tin, zinc and aluminum have tumbled in the last several weeks, as voracious Chinese factories have closed, or cut back their consumption.

But while China’s difficulties may reduce inflationary pressures around the world, they threaten to slow further the already tenuous global economic growth. “China has slowed down a lot already, but it’s going to slow down more,” said Hong Liang, the senior China economist at Goldman Sachs.

Economists expect growth to slip from its recent pace of 11 percent or more annually to as low as 9 or 9.5 percent over the coming year.

Most nations would envy that rate. But 9 percent growth will make it much harder to supply jobs to the millions of Chinese moving to cities from rural areas in search of work. And any slower growth could prove a shock to workers who have been receiving double-digit pay increases each year, as companies struggle to find enough labor to keep factories open.
How Chinese authorities manage a slower economy, and its effect on China’s 1.3 billion people, will be a test for the regime. It seems to be responding quickly.

A Politburo meeting on July 25 replaced the previous national economic goals, preventing overheating of the economy and controlling inflation, with new targets. As enunciated by President Hu Jintao in recent appearances, the objectives now are to seek fast and sustained economic growth while still keeping inflation under control.

“We must maintain steady, relatively fast development and control excessive price rises as the priority tasks of macro adjustment,” he said on Friday at a rare news conference.
Having put a series of brakes on the economy over the last five years to keep inflation under control, Chinese policy makers are now removing some to prevent growth from slowing too much.

For example, after letting China’s currency rise sharply against the dollar in the first half of this year, China’s central bank has actually pushed it down against the dollar in each of the last four trading days, including a decline of 0.13 percent on Monday. This is helping to preserve the competitiveness of Chinese exporters in foreign markets, although at the risk of angering the United States and other trading partners.

In the last several days, Chinese authorities have also raised export tax refunds for garment manufacturers — an industry previously slighted by regulators, who remain more interested in promoting higher-tech industries.

Policy makers have also reportedly moved to ease lending limits on banks.

Weak demand from the United States over the last year, and now from Europe as well, is part of China’s emerging problem. On Sunday evening, the port here was less full of containers than usual, part of a broader slowing of export growth.

This weakening of exports has been particularly true of light manufactured goods from southeastern China, one of the country’s two main export areas, along with the Yangtze River delta region around Shanghai.

At Union Bags, a luggage maker in Dongguan, about 40 miles up the Pearl River from Hong Kong, sales to the United States have dropped 20 percent in the last year.
“We have had to cut back on our own orders to our local suppliers of zippers, nylon and polyester,” said Jim Jiang, the company’s sales manager.

Demand is beginning to weaken for big-ticket purchases. J. D. Power and Associates just cut its forecast for car sales in China this year to 5.95 million — still up from 5.42 million last year, but much less of an increase than the company’s previous forecast of 6.2 million.

More serious for the broader Chinese economy are signs that the real estate market is weakening after years of climbing prices that had prompted warnings of a possible bubble. Here again, the biggest trouble seems to be in southern China.

Min Hwa, a real estate broker in Shenzhen, a city of at least 12 million people near Hong Kong, said that residential real estate prices dropped by 10 percent over the last year in desirable neighborhoods near the city center and nosedived by up to 40 percent in outlying neighborhoods.

“We have seen a lot fewer prospective buyers in recent months,” he said.

Northern China tends to produce a higher proportion of industrial goods and fewer consumer goods than southern China, and seems to be faring better. Exports are still rising, for example, from the port of Tianjin, near Beijing.

But there, a few provinces like Shandong and Shanxi are suffering from power shortages. The shortages are forcing factories to limit their operating hours because not enough coal is being mined to fuel some of the many new power plants that opened in the last two years.

Andy Rothman, a China economist at CLSA, a Hong Kong brokerage, said that nearly half of China’s provinces had scattered power shortages this summer. But the slowing of the economy will prevent the problem from becoming widespread before cooler weather brings an end to air-conditioning season, he said.

The timing of the slowdown at the beginning of the Olympics appears to be largely coincidental.

Beijing accounts for slightly more than 1 percent of China’s people and less than 5 percent of its economic output. So even heavy spending in the Beijing area on Olympic sites is unlikely to have had much of an effect in lifting growth in the last months or in depressing growth now that the construction has ended.

But fears of a post-Olympic slowdown have become part of popular culture in China, and a subject of great interest among stock market investors. Chinese stocks have fallen by more than half after soaring to records in October.

The earthquake in May in Sichuan Province does not appear to have hurt the economy, and may even help economic output as towns in the area start rebuilding with heavy government spending.

More broadly, China’s enormous investments in new roads, ports, rail lines and other transportation networks are starting to show productivity gains that could help the country weather a global economic downturn better than most.

And foreign investment is still pouring into the country, increasingly directed at higher-technology industries, although other Asian countries are also drawing more investment.
Chris Woodward, the managing director for China at Ryder, the big logistics company particularly active in shipping auto parts, said American companies were still expanding in China and were becoming more focused on the market here even as Chinese exports slow.

“People have made huge investments in the infrastructure, and it’s not just the physical infrastructure,” he said. “It’s all the training and people development.”
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

Sinking Commodities, Unchanged Interest Rates Give Wall Street A Big 330 points push up

An already soaring Wall Street extended its advance Tuesday after the Federal Reserve left interest rates unchanged and assuaged some of the market's fears about the economy. The Dow Jones industrial average shot up more than 330 points, and all the major indexes had gains approaching 3 percent.

The market was enjoying a big rally before the Fed meeting as investors responded to a report that services sector activity fell less than expected last month and to another drop in oil prices that took crude as low as $118 a barrel.

The Fed gave stocks another huge push higher in the last hours of trading. In a statement accompanying its widely expected rate decision, the central bank reported that "economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports." That assessment was welcome news to a market that has feared the economy was falling into recession because of weak consumer spending.

The Fed did have some darker news, stating that "inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities." But it also said it expected inflation to moderate later in the year.

"The wording is a little strong over inflation, but there's really no real change in policy," said Brian Gendreau, investment strategist for ING Investment Management. "I think they are trying to buy time to allow the economy to recover, and so that the financials can slowly repair."

Ryan Larson, senior equity trader at Voyageur Asset Management, said he believes the central bank will keep rates on hold until the early part of 2009. He said of Fed officials, "they seem more concerned about growth for the rest of this year, and I'd say right now they appear to be dovish for the short term."

The oil market also helped soothe some of Wall Street's worries -- crude fell as low as $118 a barrel before settling at $119.17, down $2.24 on the New York Mercantile Exchange. Oil has now fallen $28 from its July 11 high of $147.27 on widening expectations that the slumping U.S. economy will keep curbing consumer demand for gasoline and other petroleum products.

Stocks had plunged in June and early July as oil reached new heights; the fear on Wall Street was that higher prices for fuel would curtail consumer spending, which accounts for more than two-thirds of the economy. With oil falling, and the Fed citing economic growth in its statement Tuesday, investors were allowing themselves to again feel a little more optimistic after a year of financial crises and soaring commodities costs that have pummeled stocks.

The Dow rose 331.62, or 2.94 percent, to 11,615.77. It was up about 225 points shortly before the Fed's 2:15 p.m. EDT announcement. Broader indexes also rose sharply. The Standard & Poor's 500 index added 35.87, or 2.87 percent, to 1,284.88, and the Nasdaq composite index rose 64.27, or 2.81 percent, to 2,349.83.

It was the Dow and S&P 500's biggest one-day gain since April 1, when the indexes kicked off the second quarter with a huge rally. This was also the Nasdaq's biggest point and percentage rise since mid-July.

Treasury bond prices fell after the Fed released its decision. The yield on the benchmark 10-year Treasury note, which moves opposite its prices, rose to 4.02 percent from 3.97 percent late Monday.

The dollar traded mostly higher against other major currencies, while gold prices fell.
Early in the session, shares rose sharply after the Institute for Supply Management, the trade group of corporate purchasing executives, said its services sector index rose to 49.5 from 48.2 in June. Analysts surveyed by Thomson Financial/IFR predicted it would rise to 49.0.

Any reading below 50 signals contraction. The report is based on a survey of the institute's members and covers such indicators as new orders, employment, inventories, prices and exports and imports.

The notion that the sector might be in better shape than many investors feared gave Wall Street reason for optimism.

Earnings reports continued to stream in. Cisco Systems Inc. reported late Tuesday a 4.4 percent increase in net income for its latest quarter, beating analyst expectations by a penny per share. The world's largest maker of computer networking gear said sales spiked almost 10 percent. Shares closed up 66 cents, or 3 percent, at $22.65, then tacked on another 3 percent in after-hours trading.

Procter & Gamble Co., maker of Tide detergent and Gillette razors, said its fiscal fourth-quarter profit jumped 33 percent, boosted by price increases, overseas sales and tax benefits. Shares rose $2.09, or 3.2 percent, to $67.91.

Archer Daniels Midland Co. reported a 61 percent plunge in fourth-quarter profit, but said revenues soared amid higher prices for commodities like wheat and corn. The stock fell $1.53, or 6 percent, at $25.87.

D.R. Horton Inc., the nation's largest homebuilder, posted a narrower fiscal third-quarter loss as charges to write down the value of property declined. Shares fell 5 cents to $11.17.

Advancing issues led decliners by a 3 to 1 basis on the New York Stock Exchange, where consolidated volume came to 5.35 billion shares, up from 4.65 billion shares on Monday.
The Russell 2000 index of smaller companies rose 16.90, or 2.40 percent, at 721.04.

Overseas, Japan's Nikkei stock average fell 0.15 percent. Britain's FTSE 100 rose 2.52 percent, Germany's DAX index rose 2.66 percent, and France's CAC-40 rose 2.47 percent.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

BOE - ECB

if BOE and ECB keeps interest rates steady then crude will crash to 110 levels ..

Polaris Software Lab

Polaris Software Lab sold its stake in one of AIG Group companies AIG SS in which it was a joint venture partner holding 20 per cent stake for Rs 23.26 crore. The deal would also give a boost to Polaris’ bottomline this year. Polaris had entered into the JV with AIG for holding the 20 per cent stake in AIG SS for Rs 3.26 crore in 2002. This sale leaves a profit on sale of investment of Rs 20 crore for Polaris on a standalone basis and Rs 13.21 crore on consolidated basis.

News 6-Aug-08

6-Aug-08
Headlines for the day

Corporate News Headline

BHEL won contract worth Rs. 25 bn for supplying 800 MW supercritical boilers. (ET)
NTPC would enter into renewable power generation through a joint venture with foreign power and financial firms. (ET)
Nagarjuna Construction bagged new contracts aggregating Rs. 4.43 bn. (BS)

Economic and Political Headline

The finance ministry said that any further relaxation in the external commercial borrowings norms is very unlike in the near future. (ET)
As many as 19 more FIIs like Merrill Lynch Mortgage Lending, Citigroup Global Markets Mauritius, and Kotak India Focus Fund have been allowed by the SEBI to invest in Indian debt market with overall cap of over USD 1900 mn. (ET)
The US Federal Reserve, grappling with a yearlong crisis in credit markets, held interest rates unchanged at 2% while indicating continued worries about weaker economic growth ahead. (WSJ)

RD & RJ

SHORTS HAVE BEEN BUTCHERED ... RD AND RJ WILL BE BEGGING NEAR DALAL STREETS FROM TOMMO

Fed Cut

IF FED WILL WONT CUT RATES IT WILL BE GREAT BOOST TO EQUITY MARKETS AS CRUDE WILL GO DOWN DOLLAR WILL GET STRONG AND YEN WILL WEAKEN AND CARRT TRADE WILL START

CRUDE IN BEAR MARKET

CRUDE IN BEAR MARKET .... IN USA ANYTHING WHICH CRASHES 20 % FROM HIGH IS DEFINED AS IN BEAR MARKET ..CRUDE HAS CRASHED 21 % ..AND ONE MORE THINGS MANY HEDGE FUNDS R FULL WITH CRUDE AND THEY R FEELING THE BRUNT ...CRUDE WILL TOUCH 70$

Crude @ 118$

Crude @ 118$

FOMC meeting tonight

FOMC meeting tonight - chances are that this time 3 Fed officials would dissent against keeping the rates unchanged.This could support the USD,and would be negative for bullion.

RNRL

AND WITH AMAR SINGH IN FULL CONTROL ..RNRL MAY GET GAS @ 3 $ WHEREAS INTERNATIONAL GAS PRICE IS 12 $

RNRL - Reliance

Reliance Industries on Thursday informed the Bombay High Court that it would incur losses in the range of $600-900 million annually if it supplies gas to Anil Ambani-owned Reliance Natural Resources Ltd at 2.34 dollars per mmBtu. READ THIS AS RNRL WILL GAIN 900MILLION USD EVERY YEAR ..WHEAREAS ITS MARKET CAP IS 4 BILLION USD

RNRL

roumers rnrl wins the case against ril.............plz confirm at ur end.........

Polaris

In connection with this transaction, Polaris has sold 462,100 Equity Shares in AIG SystemsSolutions Pvt Ltd ("AIGSS") for a sale consideration of about Rs 23.26 Crores to AIGOffshore Systems Services Inc. USA. 11.24 annoucement

Aban Offshore

Aban Offshore Ltd has informed BSE that a Letter of Intent has been received for deployment of the new built jack-up rig "Deep Driller 8" offshore India for a two firm well + two optional well program. The firm period of the Contract, expected to commence following the delivery of the rig from the yard in the first quarter of 2009, is likely to last for 150 days with an estimated revenue of USD 30 million during the firm period. todays 11.15 annoucement

Subject - FREE TRIAL

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