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NYU's Nouriel Roubini predicts that the Four remaining US big brokers/dealers (Merrill Lynch, Lehman Brothers, Morgan Stanley and Goldman Sachs) "will either go bust or will have to be merged with traditional commercial banks." To create confidence in the Banking system, the Central Governments across the Globe will have to provide "a tacit or an implicit guarantee for Bank Deposits without an upper ceiling". Overall investors will loose another $ 2 trillion over the next 12 months, with stocks and commodities falling as much as 20 to 30 per cent from current levels.

Coffee

Coffee jumped Friday as investors went bargain hunting after this week's big correction in commodities, but a bumper crop from No. 1 producer Brazil should drive prices lower in coming weeks, analysts said

28-July-08 Results Today

Results today
28-July-08
Alembic Limited Results Bank of India Results BPCL Results Bharati Shipyard Results Blue Star Results Bosch Results Britannia Results Cinemax Results Dabur India Results Dish TV Results Glaxo SmithKline Results Glenmark Pharma Results Gwalior Chemicals Results HDFC Bank Results Hindalco Results IOB Results Jain Irrigation Results K S Oils Results Kotak Bank Results Larsen & Toubro Results Neyveli Lignite Results ONGC Results Sterlite Industries Results Sun Pharma Results TVS Motor Results Wockhardt Results

UBS South Asian Focus

UBS South Asian Focus -

India: Slowdown Ahead=Sell Banks, Real Estate, Consumer Discretionary Sectors=In this note we downgrade our India economic growth forecast to 7.1% in FY09 and to 7.2% in FY10 . The economic expansion continues, but at slower pace due to more significant imbalances which make the 'v' shape resumption to 9%+ growth extremely hard to achieve. There are three factors to watch: a wider current account deficit, a heavier fiscal burden and increased risk of the next government having to deregulate domestic fuel prices. While the Indian investment story still has much to offer investors, the climate has changed. The average rate of inflation (and therefore interest rates) will remain higher and there is increasing risk that the (new) government would have to deregulate pric

28-July-08 News

28-July-08
News
Headlines for the day
Corporate News Headline
M&M signed an MoU with the Maharashtra government to upgrade two Industrial Training Institutes under the public private partnership scheme approved by the union government. (BS)
Hindustan Construction decided to raise Rs. 1 bn, by issue of non-convertible debentures to Life Insurance Corp of India. (ET)
JSW Steel is planning to set up a Rs. 20 bn port project in the Bhadrak district of Orissa. (BS)
Economic and Political Headline The UPA government is likely to push key financial bills, including opening of pension sector for private players and raising voting rights of foreign entities in private sector banks during monsoon session of Parliament. (BS)
The government said that steel prices have declined up to six per cent during the last fortnight on the back of measures taken by primary steel producers to check the alloy prices at retail levels. (BS)
The orders for durable goods in the US climbed 0.8% in June, easing concern that companies would limit spending as raw-material costs soared. (WSJ)