Invest in Indian Auto companies now and make MONEY

Auto sector has been doing pretty bad for at least a couple of years now. Last year was a disaster as we all know. My investments in Maruti and Tata Motors, which were made in 2007 when I thought that they were cheap, went down 50% and 90% resp in 2008. Maruti has come back well but Tata Motors is still down 80%. I did not look at the auto companies for quite some time now but with the interest rates coming down there is hope that the bad ends are about to end.

With the hope that this could be the right time to get in so that I am in before the stocks run up too far I decided to take a look at some of the auto companies. It became quite clear after a quick look that I have already missed the bus with some of the frontline stocks. Here are some of the numbers

Maruti Suzuki is up 50 % from its 52 week in December, Bajaj Auto is up more than 50% its 52 week dec low and Hero Honda, which has outperformed the whole of last year, is around its 52 week high. The case of Hero Honda shows that a good profitable business is what it matters and not the sector. These were the outperformers and other like Mahindra & Mahindra, TVS and Ashok Leyland are up 20 odd %. The only frontline company that missed this bus is Tata Motors and the reasons are pretty well know so its hovering around its 52 week low.

Performance has been good only for the auto companies but not the ancillaries. Exide Industries, Amara Raja and Shanthi gears are around their 52 week lows, maybe its time to get in them so not to come back in few months time and find them 50 odd % up.

As far as I am concerned there is n't much downside in autos at the moment so I will put in some money and see where it ends up at the end of the year.

RK

Indian Business going global : Motorola's Mobile Handset business could be taken over by an Indian company (Videocon)

Another Indian company is going after global business unit. Videocon has shown their interest to acquire Motorola's mobile handset business which Motorola wants to hive off as a different entity. Reason for this interest can be gathered from this news snippet

Explaining why he was bidding for Motorola's handset business, Dhoot said his group was ready to launch its pan-Indian GSM mobile operations at an investment of Rs 6,000 crore.

Also, it has a consumer durables retail chain under the brand name "Next" with over 1,000 stores across the country that stock mobile phones too.

"The Indian market for mobile phones is around 120 million units a year and we have our own retail chain stories that we can leverage. Also, we can transfer the manufacturing plant to India to leverage cheap labour in the country," added Dhoot.

Its too early to predict if this will materialize but this again goes on to show the confidence that Indian businesses are showing to become truly global players

RK

12 March 2008 : Indian Stock Markets to see an excellent day today

Expect Indian markets to do very well today on account on global cues. All Asian stock exchanges are trading in the positive and by huge margins. Its good news for all of us. Its all due to the US markets doing pretty well last week. Lets see some of the US market headlines that could be the trigger for the positive sentiment

US dollar comes off lows on Fed action
Channel NewsAsia
NEW YORK : The US dollar hit an all-time low against the euro on Tuesday but later drew support from joint action by the US Federal Reserve and other central banks to restore credit flows in the global financial system.

Oil eases from record high as Fed move boosts dollar
Reuters
LONDON (Reuters) - Oil slipped below record highs of nearly $110 a barrel on Tuesday as the U.S. dollar rallied after the Federal Reserve and other central banks injected liquidity into strained financial markets.

Dollar soars as Fed announces liquidity measures
Reuters:
NEW YORK (Reuters) - The dollar rose sharply on Tuesday after the Federal Reserve announced new measures to inject liquidity into the financial system, easing concern about a deepening credit crisis and a U.S. recession.


Fed again takes steps to boost market liquidity
Reuters
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that with pressure mounting again in financial markets, it was expanding a securities lending program and will accept a broader range of securities as collateral.

RK
http://yourmitra.wordpress.com

12 March 2008 : Indian Stock Market and Business News roundup

MoneyControl
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Relief rally may continue for few more days: Religare Sec
Nifty may re-test Jan lows of 4448: CLSA Tech
Rally to be more broad-based this time: HSBC AMC
Next 3-6 months to be painful: Rada Adv
Brokerage biz to see earnings revision
Investors seem cautious on mkts: Karvy

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'No terror outfits in stock market'
Market regulator SEBI has ruled out participation of terror outfits in the Indian stock markets, Parliament was informed on Tuesday.

India looking at more relief sops for exporters
The government is looking at more steps to help exporters hit by a rise in rupee value, the trade minister said on Tuesday as he admitted the annual export target of $160 billion could not be met this year.

Rupee gains as local equities erase losses

The Financial Express
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Steelmakers may keep capacity idle
Indian steelmakers facing higher input prices may be forced to keep some capacity idle as their working capital is being squeezed, according to Bipin Kumar Vohra, chairman and managing director of SPS Steels group.

Tata Motors to raise $1 bn in long-term funds
Tata Motors is revving up for the last lap in its bid to buy Ford Motor Co's luxury brands, Land Rover and Jaguar, which could cost it around $2.7-3 billion. On Tuesday, the company said it plans to raise additional long-term funds of up to Rs 4,000 crore, equivalent to $1 billion.

Yellow metal price may remain high: World Gold Council
Gold prices will remain high in the short term globally mainly due to continued demand from India and China, the weakening dollar and falling global mining supplies, according to James Burton, chief executive officer, World Gold Council.

Rupee rises a second day; bonds advance
The rupee rose for a second day as a rebound in the nation's stocks spurred speculation overseas investors will return to buy equities. The currency extended gains as the benchmark stock index gained 1.3%, the most since February 25, ending two days of losses.

Indian crude oil basket touches $100 a barrel
The price of Indian basket of crude oil touched a record high of $100.17 a barrel during the Monday trade in the oil market. This has resulted in putting further pressure on fuel retailers, which are loosing Rs 360 crore per day on auto and cooking fuel sale.

Finmin finds no foul play in Reliance IPO trading
Stock prices of Reliance group companies rose by up to 37% in about a month before the opening of Reliance Power IPO, but subsequent examination of trading of these shares on exchanges did not reveal any foul play, the government said on Tuesday.

SBI, SBS merger may be postponed till elections
The State Bank of India and State Bank of Saurashtra merger is unlikely to take off at least till the general elections to be held in 2009. The reason is that the State Bank of Saurashtra Act needs to be repealed to carry on with the merger of SBS with the parent bank.

Business Standard
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Worse is yet to come in forex derivative losses
The $50 million hit L&T took due to hedging losses in a subsidiary may just be the tip of the iceberg. Losses by Indian companies as a result of their exposure to the foreign exchange derivatives market may hog the headlines for next few quarters since many of the currency swaps are likely to mature after March, said foreign exchange experts.

LIC Housing to roll out Rs 350 cr fund
In order to cash in on the real estate boom, Life Insurance Corporation Housing Finance (LICHF) is set to launch a new venture capital fund for realty projects. The size of the fund, which is awaiting regulator approval, is likely to be Rs 300-350 crore, Director and Chief Executive S K Mitter said.


RK
http://yourmitra.wordpress.com

10 Mar 2008 : Indian Stock Market Weekend News Roundup

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Chambers seek 5 yrs for listed cos to hike public stake
Industry chambers FICCI and Assocham have asked the government to allow listed companies to raise public holding from 10 per cent to 25 per cent in a phased manner over a period of five years, instead of doing it in one go as specified by the Finance Ministry

SBI to expand gold coin sale business
An unabated fascination for gold among the domestic consumers and its safe-haven investment character has inspired the State Bank of India to ratchet up its gold business and bring out coins weighing 2-50 grams to be sold through its select branches.

The Economic Times
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Govt puts PSU sell-off back on fast track
The government will soon seek Cabinet approval for a proposal to list some of the profit-making state-owned companies

Mukesh wants top brass to get cracking on Rel Retail
At a series of review meetings, Mukesh Ambani is believed to have expressed concerns over Reliance Retail’s current pace of growth.

RCom to issue 1.75 crore shares under ESOP
RCom has said it would issue 1.75 crore shares under Employees Stock Options to 20,000 staff members of the company and its subsidiaries.

Business Standard
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Investors lose 24% value as 13 out of 18 IPOs flop Investors lose 24% value as 13 out of 18 IPOs flop
India Inc opposes 25% minimum public shareholding norm India Inc opposes 25% minimum public shareholding norm
Traders edgy over advance tax, Re may dip Traders edgy over advance tax, Re may dip

RK
Real Estate Social Network

11 things not to do with your money

"11 things not to do with your money" is a piece that I came across Rediff just a while ago. It is a practical list of not to do things. I am listing the points here.

1. Don't go on depositing your salary in your savings account
2. Don't manage money without a good plan
3. Don't invest all your money in the same plan
4. Don't set high savings targets
5. Don't lose your focus on savings
6. Don't splurge more just because you got a hike
7. Don't shop for unnecessary items
8. Don't go for too many loans at the same time
9. Don't join any scheme without verifying the credentials
10. Don't invest your money in risky plans
11. Don't forget the dates, plans


Click here to read the original piece

RK
Real Estate Social Network and Rental Classifieds

07 Mar 2008 : Indian Stock Market News Round up

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RBI: Budget in line with growth, price goals
Central bank sees the government's 2008/09 budget as being in line with growth and price stability objectives, it said on Thursday, adding it will help to implement a farm debt relief scheme.

Government may ease foreign debt rule in future
India will ease restrictions on overseas borrowing by companies, introduced last year to slow capital inflows, as soon as local and global conditions allow, a senior finance ministry official said on Thursday

Investors must be encouraged to stay for longer term: FM
Defending his budget proposal to increase short term capital gains tax rate, Finance Minister P Chidambaram today said it would encourage the investors to hold on to their investments for a longer period in the markets, which are currently volatile.

Chidambaram asks brokerages to embrace corporate culture
Finance Minister P. Chidambaram has asked stock brokerages to introduce corporate culture in their working and suggested creating a separate exchange to list small and medium enterprises.

Chidambaram bats for cheaper housing loans
Finance Minister P. Chidambaram Thursday made another pitch for commercial banks to cut interest rates for their consumers, especially on housing loans up to Rs 0.2 crore that accounted for 80 per cent of exposures

The Economic Times
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India Inc on debt row, credit rating takes a hit
With Indian cos borrowing heavily to acquire businesses several times their own size, corporate India has seen a fall in its credit worthiness.

Volatile mkt: Now, brokers bat for commodity futures
Brokers feel that commodity futures may be a safer bet than the equity F&Os at this moment, even as experts have their reservations

International News
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Heavy losses on Wall Street on credit jitters
NEW YORK - Wall Street stocks wallowed in losses Thursday as growing worries about the financial and housing sectors kept traders in a grim mood.

US home foreclosures at new high
WASHINGTON : US home foreclosures rose to new highs in the fourth quarter of 2007 as loan delinquencies jumped to a 22-year high, the Mortgage Bankers Association reported Thursday

Gold price strikes record high near 1,000 dollars
LONDON : The price of gold hit a new record on Thursday close to the symbolic 1,000 dollars per ounce level as the precious metal was boosted again by the weak dollar, traders said

Oil price hit record high near US$106 amid New York explosion
LONDON : Oil prices soared to a record high close to US$106 a barrel on Thursday as traders were spooked by a small explosion in New York, a surprise fall in US crude stockpiles and the weak US currency.

U.S. department stores report weaker February sales
ATLANTA (Reuters) - Major department store chains reported lower February same-store sales on Thursday as consumers spent less on home goods and women's apparel in the weaker U.S. economy.

Household wealth dips for first time since 2002
WASHINGTON (Reuters) - The net wealth of U.S. households fell for the first time in five years during the fourth quarter last year as the value of real estate holdings and stocks weakened, the Federal Reserve said on Thursday

U.S. jobless claims tumble 24,000 last week
WASHINGTON (Reuters) - New applications for U.S. jobless benefits tumbled by 24,000 last week to a much lower-than-expected 351,000, but the number remaining on jobless aid stood at the highest level in nearly two and a half years, a Labor Department report on Thursday showed.

RK
http://yourmitra.wordpress.com

05 Mar 2008 : Indian Stock Market News and Analysts Tips

MoneyControl
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• Gbl weakness accentuated Budget negatives: Kotak Sec
• Mkts to be choppy for 3-6 months: Lehman
• '08 to be down year for mkts: Morgan Stanley
• Mkts still seeing excessive valuations: Damani
• Farm loan waiver +ve in short-term: MF Global
• Mkts to consolidate for a month: Kotak Mah

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Eicher cuts truck prices after budget duty drop
Truckmaker Eicher Motors Ltd said on Monday it will cut commercial vehicle prices by between Rs 5,000 and Rs 19,000 each, following a government plan to cut taxes on cars, trucks and motorbikes

TRAI to review FI limits for broadcasting sector
In view of convergence of broadcasting and communication technologies, Telecom Regulatory Authority of India (TRAI) today proposed to review Foreign Investment (FI) limits in the electronic media to provide level playing field among competing technologies

Exports grow 20.47% in Jan
Exports showed a healthy growth of 20.47 per cent in January this fiscal over the same month last year, but expanded by a single digit figure of 7.66 per cent in rupee terms due to pricey domestic currency

Narayana Murthy to join HSBC board
Global banking giant HSBC on Monday said Indian IT major Infosys' Chief Mentor N R Narayana Murthy will join its board in May with an annual renumeration of 65,000 pounds (about Rs 52 lakh)

The Financial Express
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Bihar okays $10-bn investments
The Bihar government has approved investment proposals worth over Rs 40,000 crore, many by big corporate entities, but there are still hurdles in the way like poor infrastructure and land acquisition, the state's latest economic survey said

FM: were not as decoupled as we think
Finance minister P Chidambaram appeared unruffled by the downslide in the domestic stock markets, attributing it to a slowdown in US markets. The benchmark Sensex slid 5.1% on Monday, tracking other weak Asian markets.

World economy slips further, prices gear up
The world economy geared down another notch in February but the inflation threat intensified, data showed on Monday, posing the biggest challenge for central bankers in a generation

Investors lose Rs 2.7 lakh cr since Budget; FIIs sell heavily
Over Rs 2.70 lakh crore has been wiped out in market capitalisation since the Budget was presented on February 29, when the Sensex touched 17,578.72. The M-cap of the Bombay Stock Exchange, which touched Rs 58,85,951 crore on February 29, 2008 is now down to Rs 56,15,813 crore on March 3,

Leather sector faces huge lay-offs, seeks fiscal support
Continuous fall in export earnings owing to the widening gap in the rupee-dollar parity is forcing the leather industry substantial production cuts that might lead to lay-off of more than one lakh employees

HSBC absorbs $17-bn subprime hit
HSBC's profits rose 10% last year, just below analysts' forecasts, as strong gains in Asia helped Europe's biggest bank absorb a $17.2 billion hit for bad debts largely due to US housing problems.

Nano fears hit two-wheeler manufacturers
The Nano fear seems to have begun to creep into the minds of two-wheeler manufacturers. In a post-Budget meeting with the finance minister on Monday, the biggies of two-wheeler industry, Hero Honda and Bajaj Auto, requested for a further reduction in excise duty on two-wheelers from 12% as announced

The Economic Times
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RBI may allow trusts to invest abroad
This would open the gates for Indian educational institutions like IITs and IIMs besides religious bodies and charities to invest in or acquire overseas assets.

International News
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Stocks flat as Alcoa, Exxon rise; Nasdaq falls
NEW YORK (Reuters) - The Dow and the S&P 500 ended little changed on Monday as soaring commodity prices

February auto sales tumble, Detroit hit hardest
DETROIT (Reuters) - U.S. auto sales tumbled in February in the face of a slumping economy and high gas prices with double-digit declines by all three struggling Detroit-based automakers.

RK
Rental Classifieds and Real Estate Social Network

Indian Stock Market Tips, Recommendations from various Analysts

Some of the recommendations from the analysts. Use discretion and your own analysis before you can act on any of them

Source : Rediff

Broking house	Company	Action	Date	Price (Rs)
Kotak PCR	+ Provogue (India)	Buy	Feb 26, 08	1,360.00
ICICI Sec	+ Aventis Pharma Ltd.	Buy	Feb 26, 08	1,197.00
Emkay research	+ Welspun Gujarat	Buy	Feb 26, 08	608.00
Deutsche Bank	+ Axis Bank Ltd.	Buy	Feb 25, 08	1,325.00
HDFC Securities	+ Alstom Projects Ind.	Buy	Feb 25, 08	1,079.00
Karvy	+ Aventis Pharma Ltd.	Market performer	Feb 25, 08	1,025.00
ICICI Securities	+ Entertainment Networ	Buy	Feb 25, 08	652.00
Emkay Research	+ HCL Technologies	Buy	Feb 25, 08	384.00
DSP Merrill Lynch	+ Hexaware Technologie	Buy	Feb 25, 08	125.00
Motilal Oswal	+ Sun TV Network Ltd.	Neutral	Feb 25, 08	-
UBS Investment Research	+ Idea Cellular Ltd.	Outperformer	Feb 25, 08	-
UBS Investment Research	+ Bharti Airtel	Outperformer	Feb 25, 08	-
Angel Broking	+ Wockhardt Ltd.	Buy	Feb 22, 08	630.00
HEM Securities	+ Indian Hotels Co	Buy	Feb 22, 08	182.00
Prabhudas Lilladher	+ ABB Ltd	Outperformer	Feb 21, 08	1,525.00
Emkay research	+ Allcargo Global Logi	Accumulate	Feb 21, 08	959.00
Pinc Research	+ Shriram Trans.Fi	Buy	Feb 20, 08	520.00
Hem Research	+ Hotel Leela Ven.	Buy	Feb 20, 08	85.00
Prabhudas Lilladher	+ UTV Software Commun.	Buy	Feb 20, 08	-
Sharekhan	+ L & T	Buy	Feb 19, 08	4,428.00
Prabhudas Lilladher	+ Fag Bearings Ind	Outperformer	Feb 19, 08	676.00
Networth Stock Broking	+ Garware Offshore Ser	Buy	Feb 19, 08	368.00
Hem Research	+ Ramsarup Industries	Buy	Feb 19, 08	300.00
Emkay PCR	+ Jyoti Structures	Buy	Feb 19, 08	292.00
Emkay research	+ Seamec Ltd.	Buy	Feb 19, 08	240.00

HPCL has a price target of Rs 380 and is a good buy at current levels, says Anil Maghnani, technical analyst, on CNBC-TV18. In BPCL, it is advisable to book profits at current levels and Nalco is likely to go to Rs 490 towards F&O expiry on Friday, he adds

SAIL is a buy on any fall, if it crosses Rs 250 it can go to Rs 262 and then at Rs 293, says Anil Maghnani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 245, up 2.57% on the BSE

Sharekhan has a target price of Rs 552 for Wockhardt, reports NDTV Profit

Gujarat NRE Coke has a 15-20% upside in 6-8 months, says Gaurang Shah of Geojit Financials, on NDTV Profit.

CLSA sees an 80% upside in 1 year for Jaiprakash Associates, reports CNBC TV18

Angel Broking has put a buy rating on Vesuvius India with a target price of Rs 320, reports NDTV Profit.

ICICI Securities has put a 'buy' rating on ENIL with a target price of Rs 652, reports CNBC Awaaz.

Indian Stock Market News - 26 Feb 2008 : Indian Markets will trade in postive today

US, Canadian, European markets have closed higher. Asian Markets have opened higher. Indian Markets will open higher and should trade in the positive at least till European Markets open. If Europeans are positive then we should end the day in the green.

I have few shares of Infosys, the stock price has just about reached the buy price. Since the Rupee has risen I am not sure if the IT stocks will keep rising or fall a little. Will wait for today before deciding to sell or hold.

RK
RentalAndRealEstate.com - Rental and Real Estate Classifieds and Social Network
http://yourmitra.wordpress.com

Market news round up:-

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Rupee rises on exporter sales

RIL, Reliance Cap among Asia's 20 best for future investors
Seven Indian firms, including Reliance Industries and Reliance Capital from the two Ambani groups, have been named among Asia Pacific's 20 best companies in terms of expected investor returns over next five years

Cash squeeze dampens investor appetite
Rising costs due to a cash squeeze in the banking system have dampened investor appetite for fresh investments leaving existing corporate debt issues floundering, forcing borrowers to privately place bonds with pension funds

BSE to take 26% stake in commodity exchange
Bombay Stock Exchange Ltd (BSE), oldest stock exchange, has agreed to buy a 26 per cent stake in Ahmedabad-based National Multi-Commodity Exchange of India (NMCE), as it looks to diversify and get a slice of the commodities boom in India

The Financial Express
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Merged entity to get Rs 3,900 cr capital infusion from HDFC
In a major sweep, post merger of two private banks, HDFC Bank and Centurion Bank of Punjab, the sheer size of the new balance sheet of Rs 1,50,000 crore will take the entity to higher pedestal on the global front.

HSBC, StanChart in race for YES stake
At least two of the world's top five banks have evinced interest in picking up a stake in YES Bank, a fast-growing private sector bank.

Tatas to double China revenues
The Tata group's investment plans in Bangladesh may have hit a rough patch, but it is steadily gaining a foothold in China. Despite growing competition from local companies, Tata expects to double revenues from China-primarily from TCS and Tata Steel-to $600 million this year.

Dropping dollar peg would ease Gulf inflation:Greenspan
Former Federal Reserve chairman Alan Greenspan said near-record Gulf Arab inflation would fall "significantly" were the oil producers to drop their dollar pegs, in contradiction to Saudi policy

US economy may skirt recession, but growth is all set to crawl
The US economy will likely avoid a recession but growth will slow to a crawl during the first half of this year, a panel of business economists forecast.

The Economic Times
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Techies may tighten purse strings over US slowdown
If IT companies become careful with increments and promotions, employees may have to scale back planned investments.

Rising inflation in Gulf affect Indians
The disparity was most pronounced in Qatar, with a perceived average cost of living spike of 38%, 22% higher than salary increases.

International News
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Goldman sees $1-$12 bln writedown for large-cap brokers in Q1
Goldman Sachs said it expects additional writedowns of about $1 billion to $12 billion each for several U.S. large-cap brokers in the first quarter, with Citigroup estimated to record the highest amount of about $12 billion

US dollar firms slightly on home sales data
The US dollar on Monday firmed slightly on better than expected US home-sales figures, but persistent concerns about the US economy still weighed on the greenback, dealers said

Wall Street shares surge as Visa unveils IPO bid
Wall Street shares surged on Monday as Visa Inc., the world's largest electronic payment processor, said it was planning an initial public offering (IPO) aimed at raising a hefty 18.8 billion dollars

Greenspan backs sovereign funds investing in US
Former US Federal Reserve chairman Alan Greenspan said on Monday that opposition to investments by Gulf and Asian sovereign wealth funds in the United States did not serve US interests

Visa plans IPO aimed at raising over US$18b
Visa Inc., the world's biggest electronic payment processing company, announced on Monday it was planning an initial public offering (IPO) in the United States, saying it hoped to raise over 18 billion dollars

Indian Stock Market News - 25 Feb 2008 : Expect higher opening with other Asian Markets opening in positive

Weekend News round up is below. The one big news was the issue of bonus shares by Reliance Power in the ratio of 3:5 and the other news being Anil Ambani crying foul over the hammering of the Reliance Power shares on the first trading day. He seems to think there is a conspiracy behind it. I will do the same if I were him, People invested in Reliance Power because of the Ambani name tag and have lost faith and money once it got listed. So its a black mark for him and the next time there is a IPO from him there will not be such a enthusiasm

Anyhow, the Indian markets should open higher following the global cues ( as analysts say). But how the week shapes up is anybody's guess. I am planning to sell off those companies which I think are over-valued on every rise and may buy other good stocks at a lower prices. What to do I was also greedy in going for the stocks that were riding the wave. Bought them at a high price and they are now 10-20% down.

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Govt asks ICAI to prepare report on IPO valuation
In the wake of controversy relating to valuation of public issues, the government has directed the apex body of chartered accountants, ICAI, to conduct a study on the initial public offer pricing and suggest ways for protecting the interest of investors.

50% of malls may shut down by '10, hype to go
Consolidation in the retail industry would result in nearly 50 per cent of the malls shutting down by March 2010 and the hoopla surrounding the sector would considerably subside by then, a brand expert has said.

The Financial Express
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Anil adds 3:5 Power to shares
In an attempt to compensate investors for the poor listing of its shares, Reliance Power proposed an issue of free bonus shares to all investors, excluding the promoters, in the ratio of 3:5. This apart, the promoter and chairman of the company, Anil Dhirubhai Ambani, announced a voluntary contribution of 2.6%

Anil insists Sebi probe into RPower stock hammering
Anil Ambani, promoter and chairman of Reliance Power Ltd reiterated his demand for an investigation by the capital market regulator Securities and Exchange Board of India into the hammering of the RPower stock following its listing on the bourses on February 11

Economic Times
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Budget is the key event for market watchers
Market watchers are hoping for some positive measures from the finance minister as market analysts are expecting that the Budget might cut corporate income tax

Rel Power bonus issue cuts losses by 40%
The Board at its meeting approved a bonus issue wherein 3 shares would be allotted for every 5 held by the non-promoter shareholders. Special: Reliance Power IPO

India riding an optimism bubble
From capital markets to cricketers, real estate to HR, every asset category seems to be trading several times above fair value

India Inc's business confidence rises by 5.4%
If the positive sentiment persists despite the turmoil in the capital market, corporate earnings may be back on track in the coming quarters.

NSE deactivates 372 F&O terminals in Jan
Terminals of 372 members in the futures and options segment were deactivated for a day during January due to margin payemnt failure.


International Markets
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Japan stocks up over 2 pct, subprime worries ease

Singapore share prices opened higher Monday, following Wall Street's rally on Friday

As China's factory floors feel the pressure from spiralling costs, there is growing nervousness in the rest of the world that the Asian giant's next big export could be inflation


RK

RentalAndRealEstate.com - Rental and Real Estate Classifieds and Social Network

http://yourmitra.wordpress.com

22 - Feb - 2008 : Indian Markets will open lower

Markets are down! This is now a usual happening. There is no point in tracking them anymore but that does not stop me from gathering the market related news

Sify

Gold glitters at Rs 12,215, silver reaches 27-year high:
After breaching the crucial 12,000 mark yesterday, gold prices surged further to set a new record of Rs 12,215 per 10 gram in the bullion market here today.

Nine infrastructure companies booked for evading import duty:
Nine infrastructure firms having their interests in road building have been booked by the Customs authorities for allegedly evading import duty totaling Rs 20 crore on heavy engineering equipment.

Investors forum demands probe into recent market crash:
The Investors Grievances Forum has demanded a probe into the market crash of January 22 and sought explanation from valuers of IPOs which hit the market in January

India to invest $2.5 b in SBI rights shares:
The Indian cabinet on Thursday approved a government proposal to invest Rs 9996 crore ($2.5 billion) in the rights share offering by State Bank of India, the country's biggest lender, a spokeswoman said.

Rupee climbs on strong capital inflows, exporters
The rupee held onto to early gains on Thursday, driven higher by exporters selling dollars and inflows of overseas capital into the stock market, dealers said.

The Financial Express

Broking firms see 400% leap in online trading value
The number of investors opting for online trading has gone up manifold, according to the recently published 'India's Leading Equity Broking Houses, 2008' by Dun & Bradstreet

IT majors on a hiring spree at lower salary
Reduced variable pay and increase in the number of fresh recruits to the total workforce are among the major factors that have led IT majors to hire more at lower pay scales.

Sugar price may rule lower on higher supplies, dull demand
Sugar spot and futures prices in the domestic market may rule lower in the next few days as supplies by sugar mills have increased considerably amid sluggish demand.

The Economic Times

Govt should allow 100% FDI in single brand retail
The govt should think about allowing 100% FDI in single brand retail trading and introducing multi brand retail trading in a phased manner.

'25% public holding may drive out IPOs'
Mkt may witness huge flow of public issues if proposal for listed cos to maintain 25% minimum public holding is implemented, Assocham has said.

Markets may fall further: Goldman Sachs
Goldman's analysts said that retail investors have been a key driver of the market's strong rise between August 2007 and January this year

World News:

Dollar drops on weak US economic data
The dollar dropped against other major currencies Thursday after another set of weak US economic data added to concerns that the world's largest economy risks falling into recession

Oil prices ease off record highs on strong US supply build
World oil prices slid back from two days of record peaks Thursday after a stronger-than-expected rise in US crude-oil reserves damped supply jitters.

US stocks tumble as economic fears mount
US stock markets tumbled Thursday as lackluster economic news renewed fears that the world's largest economy is sliding into recession

US economic gauge weakens
A key forward-looking US economic gauge posted a decline in January for a fourth straight month suggesting "weak growth" ahead for the world's largest economy, the Conference Board said Thursday.

Wall Street sinks on energy's slide and recession worry
Stocks fell more than 1 percent on Thursday as bulging oil inventories deflated energy shares and the weakest reading on mid-Atlantic manufacturing since 2001 added evidence the economy was in recession.

Starbucks cuts 600 jobs amid stagnant U.S. growth
Starbucks Corp said on Thursday it would eliminate 600 jobs as it works to turn around stagnating U.S. coffee shops in the face of a weak economy.

Lehman Brothers to cut 200 jobs: report
Lehman Brothers Holdings Inc is cutting 200 jobs, equivalent to 10 percent of its investment banking staff, CNBC television reported on Thursday.

RK
RentalAndRealEstate.com - Singapore Rentals and Real Estate Social Network

21 - Feb -2008 : Indian Stock Markets will open higher today

US closed positive, Asian Markets as good followers are doing what they were supposed to do. And Indian markets being different will open higher

That said, here is the some of the important news items

MoneyControl

Sensex could bottom out around 16K levels: Experts

Maintain a range in mkts for next 3-6 months: Kotak Sec

Direct tax rate cut may spur mkts: ICICI Pru Life

Fed may cut rates by 50 bps in March: JP Morgan

Mkts to be rangebound till Budget: Dipan Mehta

Rupee falls to 40/$ mark, tech stocks gain

Business Standard

Wall St rallies led by technology stocks

SBI, Canara cut rates again

FII-TO-FII TRADES: SBI traded at 12% premium

FIIs net sell Rs 266cr, DIIs net buy Rs 256cr

Economic Times

Lack of confidence keep markets in red
Global cues may have been the trigger, but the underlying uncertainty kept markets in the red.

Recently listed stocks fall below offer price
Many recent offerings which listed at premiums are now trading at a discount to their offer prices

Nano trial production at Singur to start by July
Tata Motors MD Ravi Kant said within two months of trial production, commercial production of the car would begin in the second half of FY-09

The Financial Express

REL bags Mumbai sea-link project
The Anil Ambani-controlled Reliance Energy Ltd has outbid Mukesh Ambani-run Reliance Industries Ltd for the Rs 4,000-crore Mumbai Trans Harbour Project. The Maharashtra State Road Development Corporation selected the REL-Hyundai consortium, which quoted a concession period of 9 years 11 months, over the RIL-promoted SKIL Infrastructure-IL&FS-John Laing consortium's 75 years

Tata Steel puts Corus integration on the fast track
Tata Steel and Corus, which revved up their integration plan, have already started discovering the benefits in several areas of research and steel-making

Rupee falls to 5-month low; bonds fall most in 3 wks
The rupee fell for a fourth day, its longest losing streak since November, on speculation the currency's decline prompted companies to increase purchases of foreign currency needed to pay for imports.

Sify

Low demand, high fuel prices ground airline profits
When the air traffic in December (Christmas and New Year traffic) saw the lowest growth over the last few years of around 15 per cent, airlines were more than taken aback

P-note restriction puts SEBI in driver's seat
The former Securities and Exchange Board of India (SEBI) chairman M Damodaran, in his own inimitable style, once explained how things get done in India with the analogy of the booming aviation sector

1% brokers tot up 80% of turnover

Reuters

Wall Street rallies on optimism about rate cuts
Stocks rose on Wednesday as a strong profit outlook from Hewlett-Packard Co lifted technology shares and the Federal Reserve signaled its intention to keep cutting rates.

Fed cuts growth forecast on housing, credit strain
The Federal Reserve said on Wednesday it had lowered its growth forecast for 2008 to between 1.3 percent and 2 percent due to the deepening housing contraction and tight credit, and said risks of further setbacks are troubling

Wal-Mart to source more IT activities from India
Wal-Mart Stores Inc said on Wednesday it would increase technology activities in India, as it seeks to expand its remote sourcing model.

CNN

Stocks stage rally
Stocks jumped Wednesday as investors welcomed the Federal Reserve's stance that the economy can avoid a recession, despite slower growth, rising unemployment and more pricing pressures

Oil surges to record above $101
Oil prices blew past the previous intraday record Wednesday, topping $101 a barrel as traders ignored signs of a faltering economy and focused on higher stock prices and the risk of inflation

Channel NewsAsia

Wall Street shrugs off record oil prices
US stock markets ended higher on Wednesday as investors snapped up bargain-priced shares and appeared to shrug off a jump in oil prices to a record high above 101 dollars a barrel, traders said.

Oil prices hit record US$101.27
New York oil prices struck a record 101.27 dollars a barrel on Wednesday amid renewed global supply jitters, analysts said.

Fed slashes half point off 2008 US economic growth forecast
The Federal Reserve on Wednesday slashed its 2008 growth forecast for the US economy by a half percentage point to a rate between 1.3 to 2.0 percent, citing the housing slump, tight credit and higher oil prices

RK
Rental And Real Estate Classifieds

20 - Feb -2008 : Another bad day in offing

US markets closed in negative and Asian markets following the trend today morning

EconomicTimes

Budget-bound market stays afloat
Online volumes plunge as net traders log off
Realty sector to see a jump of 25% in 2008 salary
Populist budget amid inflation: Religare
IT revival seen in 6 months: Everest Group

Sify

Airlines see dip in growth in January
Crude oil import bill jumps over 29%
Rupee drops to 5-month low on dollar shortage
India manufacturing capacity down in some sectors: FICCI
Gold rises further on strong global cues

The Financial Express

REC IPO: gone in no time
Citigroup sells Japan HQ to Morgan Stanley
Credit Suisse reveals $2.85 bn writedown
Barclays raises its writedown to $3.1 bn
Re declines on speculation, bonds fall for third day

New York Times

Toshiba Quits HD DVD Business

CNN Money

Wall Street at risk for $30B in bond insurer crisis

Reuters

Oil hits record over $100 on OPEC supply concerns
Tax rebates to boost U.S. growth: Gutierrez
Fed's Stern says rate cuts should protect economy

ChannelNewsAsia

Survey predicts Australian growth to slow in late 2008
Wall Street rally slips on oil record

RK
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