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

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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)

Top stories at 3PM

Top stories at 3PM
* Bangalore rocked by 6 blasts; 1 dead, 2 hurt.
* Finance secretary says India growth story still "credible, intact".
* RBI Reddy meets Chidambaram ahead of Tue policy review.
* PNB Q1 marked-to-mkt loss on bond portfolio seen 1.5 bln rupees.
* India Apr-Jun cement imports from Pakistan via rail at 173,000 tn.
* After dismal show of SBI Cards, LIC parts ways with GE Money.
* Union Bank of India Q1 MTM loss 3.39 bln rupees vs 200 mln yr ago.
* Reliance Power to raise $4 bln for Sasan, Krishnapatnam units
* Godrej Consumer to up soap prices on rising veg oil costs.
* Corus to up UK steel structural section price by 60 pound/tn
* Hindustan Construction Apr-Jun forex loss provision 506 mln rupees.
* Exide Industries to invest 1.8 bln rupees on expa

US government was scheduled to report new home sales for June after the opening bell. Economists surveyed by Briefing.com expect the annual sales rate to slide to 505,000 from 512,000 in May.

Banglore Blast Updates

Five separate blasts rocked Bangalore Friday afternoon. The locations of the blasts are Koramangla, Nayandahallil on Mysore road, Ashok Nagar, Madiwala bus stand, Annapanya. Cause of blasts is not yet been ascertained. Unconfirmed initial reports indicate four people have been injured. At least three people are reported dead. The blasts happened after 1.30 in the noon within a gap of five to ten minutes each. Bomb squad rushed to the spots. TV sources says that all the blasts are of low intensity

Banglore Blast Updates

ACCORDING THE LATEST REPORTS, 6 BLASTS HAVE HAPPENED WITH A GAP OF 20 MINUTES FOR EACH AND POLICE HAVE WARNED MORE COULD BE THERE AND HAVE CALLED FOR COMPLETE EVACUATION OF ROADS AND PUBLIC PLACES....... IT PARKS ARE GUARDED WITH POLICE AND SECURITY FORCES

Banglore Blast Updates

ONE MORE BLAST NEAR MALLAYA HOSPITAL JUST NOW

Banglore Blast Updates

BANGALORE CITY TRAFFIC CLOSED DUE TO HEAVY BOMB BLAST --- TOTAL 5 SERIAL BLAST..... PPL ASKED TO STAY AWAY FROM ROADS AND PUBLIC PLACES --- POLICE WARNING MORE BLASTS IN IT PARKS !!!

Banglore Blast Updates

ndtv saying 5 blasts

Banglore Serial Bombblast

as per fresh news its 3 bomb blast - one ar madiwala, second at nayandahalli, n third at audigodi

Breaking News

Breaking news: Serial Bomb Blast in Bangalore- TWO BLASTED AS OF NOW AS PER TV; Bomb blast in Madiwala followed by second blast in audigodi

RIL & RNRL CASE

RIL & RNRL CASE :
The Memorandum of understanding (MoU) signed between the warring Ambani brothers during their split in June 2005 took centre stage in the Bombay High Court once again on Thursday, 24 July 2008, with Harish Salve, senior counsel for Mukesh Ambani-promoted Reliance Industries, asking for the MoU to be produced in the court. Salve said the MoU cannot be taken as the basis for allocation of gas by RIL to Anil Ambani-promoted Reliance Natural Resources (RNRL). The MoU was the basis for the demerger of the Reliance Group. After the split, Mukesh Ambani got RIL and Anil Ambani got Reliance Capital, Reliance Communications and Reliance Energy. The Bombay High Court, on Thursday, began daily hearing on the gas dispute between the two firms. Daily hearing will take place from 12

Oil and Natural Gas Corporation (ONGC),

Oil and Natural Gas Corporation (ONGC), the country's largest oil and gas producer, plans to enter uranium mining in alliance with public-sector Uranium Corporation of India, aiming to tap the business opportunity from nuclear fuel shortage in Asia's third largest economy. ONGC is aligning with Uranium Corporation as the latter is the only entity allowed to undertake uranium mining in India, and the has the power to allot mining leases to others like ONGC

Indian Oil Corporation (IOC)

Indian Oil Corporation (IOC) has run out of money as well as the Centre’s IOUs, which the company has been encashing for foreign exchange to buy crude. Indian Oil needs roughly Rs 12,000 crore ($3 billion) every month to buy crude but loses Rs 413 crore daily on fuel sales. As a result, the company has been borrowing heavily from banks and incurring further expense on interest. Lately, it has also been encashing the bonds under an RBI mechanism. In June, IndianOil used up the last of the bonds it had to raise about Rs 9,900 crore through the RBI mechanism. It is now left with bonds worth about Rs 4,300 crore that had already been securitised for raising funds from the overnight call market

RELIANCE

RELIANCE RESULTS YESTERDAY HIDE THINGS MORE THEN IT REVEALS ..iT A CLEAR CASE OF SUPPRESSION OF PROFIT ... @130 BARREL A OIL ITS GRM IS 15.5 WHEARES ITS GRM WAS 15 WHEN OIL WAS 70$ PER BARREL ...NOW ANY PERSON WITH A SMALL DEGREE OF COMMON SENSE CAN FIGURE OUT WHY RELIANCE DID NOT SHOW WINDFALL PROFIT

China's attempts to cap coal prices in order to encourage power generators to maintain full output could be counterproductive, with private miners likely to cease operations until the caps expire, said Morgan Stanley. In a note to investors, it said that "given the inelastic coal demand, we believe the incentives for coal mines, especially privately owned mines, to ask for higher prices remains high." On June 20, state regulators ordered coal producers to maintain prices at June 19 levels until the end of the year. However, the instructions were largely ignored, with benchmark 5,000 kcal coal prices rising by an additional 20 pct to more than 1,000 yuan/ton in recent weeks. The government said yesterday that it would tighten monitoring at spot markets and seaports in order to make sure th

Remi Metals Gujarat Ltd

Remi Metals Gujarat Ltd has informed that the Company had submitted a Rehabilitation Scheme for its One-time settlement of all secured term loan and capex requirement to Board of Industrial And Financial Reconstruction through the monitoring Agency IDBI after having in-principle approval of Corporate Debt Restructuring Cell. The hearing of BIFR for considering the Scheme is fixed on July 24, 2008.

USA Congress may outlaw elements of oil futures trading that lawmakers found distorted demand and contributed to the 69 percent surge in prices in the past year.U.S. legislators are considering limits on the number of oil contracts an investor can hold and may increase disclosure requirements. Speculators such as Goldman Sachs Group Inc. use the practices to bet on price swings, which may drive up prices, though they have no intention of taking delivery of underlying goods, lawmakers say

25-July News

Headlines for the day
Corporate News Headline ONGC is planning to enter uranium mining in alliance with public-sector Uranium Corporation of India. (BS) GAIL India and Bharat Petroleum have signed an agreement for cooperation in transmission and distribution of natural gas. (ET) Tata Motors would shortly be approaching the SEBI to seek permission for its Rs. 72 bn rights issue. (ET) Economic and Political Headline Inflation for the first time since May eased by 0.02% to touch 11.89% mainly due to a moderation in prices of certain food items like sea fish, tea, and imported edible oils. (BS) In a move to improve the tradability of domestic convertible bonds, the finance ministry has proposed a mechanism, under which the equity option can be traded separately. (BS) The sales of previously owned US homes fell 2.6% in June to the lowest level in a decade as tumbling real- estate prices and consumer confidence signalled no end in sight to a housing recession now in its third year. (Bloomberg)

After the party played a crucial role in the UPA Government's victory during the trust motion, the Samajwadi Party (SP) on Thursday indicated that it was not interested in joining the Government.According to sources, Prime Minister Manmohan Singh had asked the SP leadership to consider joining the Government, but the SP is learnt to have declined the prime minister's offer. "I am not the right person to answer the question whether the party would participate in the Government or not. It is not possible to answer this question now but we are not interested in joining the Government," said SP general secretary Amar Singh, responding to a question whether his party would join the Government

FII NET BUYERS TODAY IN EQUITY WITH 272 CRORES AND DOMESTIC FUNDS NET SELLERS WITH 610 CRORES .. ARE BULLS GONNA HAVE A BEAR HUGE IN THE FORM OF DOMESTIC FUNDS THIS TIME

Reliance Industries announces Q1 results Announcement

Reliance Industries announces Q1 results Announcement: Reliance Industries Ltd has announced the following Unaudited results for the quarter ended June 30, 2008:
The Company has posted a net profit after tax of Rs 41100 million for the quarter ended June 30, 2008 as compared to Rs 36300 million for the quarter ended June 30, 2007. Total Income has increased from Rs 297210 million for the quarter ended June 30, 2007 to Rs 418050 million for the quarter ended June 30, 2008.

Enam Research ,Morgan Stanley-India Research,Deutsche Bank - Equity Research,Merrill Lynch -.Goldman Sachs and Citigroup,Macquarie Research == all reports shown they are not much bullish from this levels.. lets see what happens. Infact in Jan all were bullish and mkt came down.. let`s see what happens this time

Nu Tek India Limited IPO

Nu Tek India Limited IPO
July 29, 2008 to August 01, 2008Rs 170/- to Rs 192/-Public Issue Size: 4,500,000 Equity Shares of Rs. 10/-

(PTI) Contrary to India Inc's expectations, global investment banking giants Goldman Sachs and Citigroup have expressed doubts over the UPA government's ability to push ahead with a full fledged reforms process even though the ruling coalition no longer relies on the left. Noting that the government, which won the trust vote in the Lok Sabha last evening, would now have an opportunity to pursue stalled reforms, Goldman Sachs pointed out that the administration would have to deal with several difficulties in carrying out the process. "However, if it is to introduce reforms successfully, the government will have to deal with several difficulties. Five factors impede its ability to enact reforms successfully," Goldman Sachs said in the report.

Macquarie Research

Macquarie Research =We think the markets will now refocus on fundamentals, with the headwindsfacing the economy remaining strong. Inflation is expected to remain in doubledigits until the middle of next year, and interest rates are expected to rise afurther 100bp. In that scenario, we advise caution and believe investorsshould stay defensive with Tata Power, Tata Steel, Bharti Airtel, AbanOffshore and BHEL being our top picks. Our top sells are Hero Honda,Hindustan Unilever, ICICI Bank and State Bank of India.

Enam Research =Real Estate

Enam Research =Real Estate: Another Downgrade=Aggressive land acquisition at peak prices through short term, high cost debt + huge working capital mismanagement (short term debt used for long term projects). - Developers stubbornly held on to selling prices and high cost inventory on hopes of renewal of demand and uptick in prices.We maintain our Underweight view on the sector and reduce our EPS estimates and target prices downward. While there is deep-value (even based on our Bear case) in some small/ mid cap stocks, these are also expected to continue to underperform until liquidity starts quenching this sector

Merrill Lynch View

Merrill Lynch - Near term rally on trust vote; but new lows likely. Its again not “different this time”. Flagging monsoons could add risks to economic growth. Earnings downgrades could signal a bottom for markets

Morgan Stanley-India Research

Morgan Stanley-India Research=Indeed, this is likely to be a strong rally and could be something similar to the one we got between mid-March and mid-May (21% rise in the BSE Sensex) if these conditions continue. We expect bulls to get complacent and start to believe that this is the beginning of a new bull market. However, we think this is likely to prove to be just another powerful bear market rally. Afterall the market still faces headwinds from high crude oil prices, political uncertainty, fragile global financial markets, weak domestic sentiment, likelihood of higher long bond yields, slowing growth and prospects of earnings downgrades