World market update

All world market is up, asia is up, sgx nifty up by 28 points, trading at 3640, but due to election results be careful
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Singapore Nifty Update

Singapore / sgx nifty up by 28 points trading at 3640
All asian markets are up
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Nifty Levels

NIFTY SUPP@3520-50-90 RESIS@3650-80
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15-May-09 News Headlines

Corporate News Headline

•NTPC has signed a Rs. 85 bn loan agreement with State Bank of India to fund its upcoming power projects. (ET)
•DLF is planning to raise about Rs. 100 bn over two to three years from selling businesses and land. (Bloomberg)
•BHEL has bagged an order worth Rs. 14.75 bn for a 600 MW thermal power plant in Chattisgarh. (ET)
  

Economic and Political Headline

•After rising for three consecutive weeks, inflation fell to 0.48% for the week ended May 2, even as essential food items like pulses, cereals, and vegetables ruled high. (BS)
•Initial jobless claims in the US rose by 32,000 to 637,000 in the week ended May 9, because of the Chrysler LLC bankruptcy that is likely to reverberate through the economy for months. (Bloomberg)
•The spending on factories and properties in China surged 30.5% in the first four months from a year earlier, as China's USD 585 bn stimulus plan and record bank lending triggered the nation's economic recovery even as exports plunge. (Bloomberg)
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14-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14833 :: Silver 22827 :: Copper 222.95 :: Lead 71.75 :: Nickel 622.10 :: Zinc 73.55 :: Crude Oil 2868 :: Natural Gas 211.90 :: CPO 400 :: HO 73.85 :: SO 509 & INR 49.77

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Sbi amendment act

Govt to pass SBI amendment Act in Parlianment. After this act SBI and SBI subsidairies can issue bonus shares. Posivite for SBI and its Subsidairies like SBM , SBT
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Inflation for this week

The benchmark figure for this week is 0.48% as compared to 0.70% last week.
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Sgx Nifty

Sgx nifty down by 76 points
Cmp 3560 level
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14-May-09 News Updates

Corporate News Headline

•DLF said that some of the promoter members sold 168 mn shares of the company to the institutional players for Rs. 38.6 bn in an open market transaction. (BS)
•TCS has won a five-year contract to provide IT services to Volkswagen Group UK, a unit of Volkswagen AG. (BS)
•ONGC is planning to invest about Rs. 90 bn over the next 3-4 years to enhance oil and gas output as part of phase II redevelopment of its Mumbai High field on India's Western Offshore. (BS)


Economic and Political Headline

•The RBI Governor Duvvuri Subbarao said that banks have more room to lower their lending rates after aggressive rate cuts by the central bank since last October. (ET)
•Retail sales in the US unexpectedly dropped 0.4% in April followed a revised 1.3% percent drop in March, indicating that rising unemployment is prompting consumers to conserve cash. (Bloomberg)
•The Bank of England said the UK economy faces a "slow" recovery and inflation will probably stay below its target for the next three years as the country struggles to escape the worst recession since the 1980s. (Bloomberg)
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13-May-09 Mcx Settlement Prices

Today's Settlement Price 14897 :: Silver 22941 :: Copper 224.35 :: Lead 71.50 :: Nickel 620.40 :: Zinc 72.65 :: Crude Oil 2909 :: Natural Gas 220.60 :: CPO 407.60 :: HO 74.15 :: SO 516.15 & INR 49.70
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BOOKIES-ELECTION2009

BOOKIES-ELECTION2009===BJP--158,,,CONGRESS==108--118,,BSP--30,,SP--18.,,JDU--22,,AIDMK.GROUP--28,,TMC--12,,BJD--8,,TDP--18,,,TALANGANA-6,,PRP-3,,RJD--6,,LJP-2,,CPI..CPM---43,,AKALI--6,,INALO--3,,AJIT-3,,DMK--10,,NCP--9,,SHIVSENA--14,,MNS-1,,JMM-1,,AJP-4,,OTHERS--25-35,,INDP--7
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Bookies report election 2009 : just fun

will be post after 5 pm

13-May-09 News Updates

Corporate News Headline

•Kotak Mahindra Bank reported Q4'09 results, total income increased 49.47% yoy to Rs. 11.33 bn, but net profit declined 12.26% yoy to Rs. 2.11 bn. (BS)
•KEC International bagged orders worth Rs. 1.11 bn from within the country as well as abroad. (BS)
•JSW Steel said it has no plans to sell its US-based units even as mills are operating at only 10%-15% of their production capacity amid waning demand on account of the economic crisis. (BS)


Economic and Political Headline

•Industrial production declined 2.3% in March as compared to a rise of 5.5% during the corresponding month in 2008. (BS)
•The home prices in the US dropped 14%, the most on record in the first quarter from a year earlier, led by California and Florida, as banks sold foreclosed properties. (Bloomberg)
•The UK unemployment jumped 244,000 in the three months through March to 2.22 mn, the most since 1981 as the recession forced companies from carmakers to banks to cut workers. (Bloomberg)
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12-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14697 :: Silver 23049 :: Copper 228.50 :: Lead 71.95 ::Nickel 643.60 :: Zinc 75.10 :: Crude Oil 2907 :: Natural Gas 216.30 :: CPO 405.80 :: HO 74.35 :: SO 505.25 :: INR 49.31
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IIP data

INDIA\'S MARCH INDUSTRIAL PRODUCTION FALLS 2.3% FROM YEAR AGO
10 Lakhs nifty got sold @ 3572
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12-May-09 News Headlines

Corporate News Headline

•SBI reported Q4'09 results, total income increased 32.67% yoy to Rs. 764.79 bn, and net profit rose 45.62% yoy to Rs. 27.42 bn. (BS)
•ONGC is planning to invest Rs. 60 bn in new and existing fields in this fiscal to raise output. (BS)
•Gujarat NRE Coke has secured a USD 50 mn long-term loan from international banks for its coal mining facility in Australia. (BS)


Economic and Political Headline

•The domestic car sales showed their upward trend for the third consecutive month with April sales, registering 4.2% growth after prolonged decline that started in the second half of 2008. (BS)
•The Prime Minister Manmohan Singh said that India's economy grew an estimated 6.5% in the just-ended 2008/09 fiscal year and consumer price inflation is expected to moderate in five to six months. (Reuters)
•China's new lending cooled in April, easing concern that banks are taking on too much risk in a credit boom after the government dropped restrictions on loans in November. (Bloomberg)
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11-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14570 :: Silver 22624 :: Copper 228.70 :: Lead 71.05 :: Nickel 641.60 :: Zinc 75.30 :: Crude Oil 2875 :: Natural Gas 212.90 :: CPO 401.90 :: HO 74 :: SO 499.90 :: INR 49.51
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Sgx Nifty Updates

Sgx nifty up by 14 points
Cmp 3641
All asian markets are up
But not in deep green
Up by around 0.40% only
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News Updates 11-May-09

Corporate News Headline

•Cairn India will begin producing crude oil from its prolific Rajasthan fields by the month-end if it gets approval from partner ONGC for field investments and if the Government is able to find buyers for the oil. (BS)
•Deep Industries bagged two contracts worth Rs. 230 mn from ONGC. (BS)
•GMR Infrastructure is planning to raise up to USD 1 bn to fund growth. (BS)


Economic and Political Headline

•The inflation rate marginally rose to 0.7% for the week ended April 25. The rise is primarily a result of increase in prices of manufactured products. (BS)
•Payrolls in the US shrank by 539,000, after a 699,000 loss in March, the least since October last month as employers detected signs the worst of the recession had passed and government hiring stepped up for the country's next census. (Bloomberg)
•The UK producer prices rose 0.6%, the most in 10 months in April after the government raised taxes and costs of petroleum products and motor vehicles increased. (Bloomberg)
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News Updates 9-May-09

News Update for 09-05-2009:-

Japan confirmed its first cases of swine flu Saturday in three people who recently returned from Canada, even as the disease's spread appeared to slow in the rest of the world.Health and Welfare Minister Yoichi Masuzoe said the three Japanese were quarantined upon arrival in Tokyo after testing positive in preliminary checks performed on all travelers flying from countries hit by the virus.
http://online.wsj.com/article/SB124184218109303271.html <http://online.wsj.com/article/SB124184218109303271.html>

Corus, a unit of Tata Steel, announced that some big buyers of slab had terminated an offtake agreement for its Teesside Cast Products (TCP) plant, putting under cloud the future of the plant. The world's sixth-largest steelmaker said it might have to mothball TCP, in northeast England, which employs 1,920 people.
<http://www.business-standard.com/india/news/corus-plant-in-uk-faces-closure/357558/> http://www.business-standard.com/india/news/corus-plant-in-uk-faces-closure/357558/

State Bank of India (SBI), the country's largest bank, may review interest rates on deposits by May-end. "We will review interest rates at May-end. In general, there seems to be a trend of softening interest rates on the deposit side," said Chairman and Managing Director O P Bhatt on the sidelines of the inauguration of an inward remittance cell in Kolkata on Friday.

<http://www.business-standard.com/india/news/sbi-may-review-deposit-rates-by-month-end/357544/> http://www.business-standard.com/india/news/sbi-may-review-deposit-rates-by-month-end/357544/

Singapore-based lender DBS Bank today sold off its entire stake in HDFC Bank, while Deutsche Securities Mauritius picked up 3.78 million shares in the country's second largest private sector bank. "We have divested our 2.7 per cent stake in HDFC, a portfolio investment, as we believe that this is an opportune time to divest the shares," a DBS spokesperson said. Sources said that the sale did not reflect diminished interest in India and DBS would go ahead with its plans for the country.

<http://www.business-standard.com/india/news/dbs-exits-hdfc-bank-deutsche-sec-steps-in/357540/> http://www.business-standard.com/india/news/dbs-exits-hdfc-bank-deutsche-sec-steps-in/357540/

Crisil has downgraded its rating on Reliance Infrastructure's long-term debt on concerns of business restructuring and the resultant restriction in cash flow. The Indian subsidiary of credit rating firm Standard and Poor's, Crisil, has lowered the rating to AA+/Negative from AAA, while the company's rating on the short-term debt reaffirmed at 'P1+'.
http://www.business-standard.com/india/news/crisil-downgrades-reliance-infra/s-long-term-debt/60998/on <http://www.business-standard.com/india/news/crisil-downgrades-reliance-infra/s-long-term-debt/60998/on>

Billionaire Warren Buffett's investment firm Berkshire Hathaway said it lost $1.5 billion in the first quarter amid market turmoil as the value of its assets fell by $6.1 billion. The investment company controlled by Buffett, the world's second richest person, took a hit from its insurance holdings and a loss as it sold a big stake in oil giant ConocoPhillips.
<http://economictimes.indiatimes.com/International-Business/Warren-Buffett-firm-loses-15-bn/articleshow/4502304.cms> http://economictimes.indiatimes.com/International-Business/Warren-Buffett-firm-loses-15-bn/articleshow/4502304.cms

Larsen & Toubro (L&T) will sell its 11.5% stake in the Aditya Birla group company UltraTech Cement by December. Pegged at around Rs 800 crore at Friday's market price, the sale proceeds will prop up L&T's bottomline in 2009-10. The company will also realise a further Rs 100 crore of other income from the sale of its ready-mix concrete assets in 2009-10. It had sold that business to Lafarge in 2008 for Rs 1,480 crore, and around Rs 100 crore has been pending from this transaction. 

<http://economictimes.indiatimes.com/LampT-to-sell-its-115-in-UltraTech/articleshow/4501829.cms> http://economictimes.indiatimes.com/LampT-to-sell-its-115-in-UltraTech/articleshow/4501829.cms

Indian professionals aspiring to go to the US to work may now find it more difficult to get H-1B visas with Washington deciding on stricter screening following complaints of misuse of the facility.  Acting on the complaints, the US has adopted "fraud prevention tactics" to prevent such misuse. "We've added fraud prevention tactics. We've begun looking at other more standard fraud investigatory techniques that weren't being used in H-1B that we are now going to employ. It includes things like sites visits and worksites visits," Janet Napolitano, secretary of the Department of Homeland Security, said. 

<http://economictimes.indiatimes.com/Features/Visa/US-tightens-H-1B-visa-rules-for-Indians/articleshow/4502134.cms> http://economictimes.indiatimes.com/Features/Visa/US-tightens-H-1B-visa-rules-for-Indians/articleshow/4502134.cms

Few passengers may have taken to the skies in April, making it the third straight month that airlines have witnessed traffic declining on a year-on-year basis, as the industry struggles to cut costs and shed excess capacity.  Air passenger traffic in the domestic sector may have fallen by 8% in April 2009 compared with last year, according to market experts and travel industry officials. The official figures for the month will be released by the civil aviation ministry next week. 

<http://economictimes.indiatimes.com/News-by-Industry/Air-traffic-falls-8-y-o-y-in-April/articleshow/4501530.cms> http://economictimes.indiatimes.com/News-by-Industry/Air-traffic-falls-8-y-o-y-in-April/articleshow/4501530.cms

State-run Union Bank of India, in joint venture with Belgium-based company, plans to enter the mutual funds business by December this year and hopes to receive the market regulator Sebi's approval to set up the firm by June 30, a top bank official said. "The bank expects to receive the Sebi nod for JV by December. We would be able to enter the market with our first product by December this year," Union Bank General Manager Personal Banking & Operations S Govindan said here. 

<http://economictimes.indiatimes.com/Personal-Finance/Union-Bank-to-enter-MF-business/articleshow/4496213.cms> http://economictimes.indiatimes.com/Personal-Finance/Union-Bank-to-enter-MF-business/articleshow/4496213.cms

Inflationary pressure is very high in India, says Reddy
The monetary and fiscal packages announced by RBI and the government, according to him, are "on track", but the challenge before the authorities is unwinding the packages in due course.
http://www.mydigitalfc.com/monetary-policy/we-didnt-encourage-things-we-didnt-understand-yv-reddy-646 <http://www.mydigitalfc.com/monetary-policy/we-didnt-encourage-things-we-didnt-understand-yv-reddy-646>
http://www.livemint.com/2009/05/08230521/Inflationary-pressure-is-very.html?h=A1 <http://www.livemint.com/2009/05/08230521/Inflationary-pressure-is-very.html?h=A1>
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