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 - Analysts Tips and Calls

Sify:-

Gammon Infrastructure Projects: Avoid
Sita Shree Food Products: Avoid
India Cements: Hold
CMC:Buy
JK Tyres: Buy

MoneyControl:-

Valuations attractive below 16k level: Lehman Bros
India story still intact: Reliance Mutual Fund
Wait & watch for mkts to stabilise, feel experts

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

06 March 08 : Good day ahead for the indian markets

Its green everywhere - US and Asia, so expect a good day for the indian markets as well.

RK
Rental Classifieds and Real Estate Social Network

06 March 2008 : Broker Tips

Broking house	Company	Action	Date	Price (Rs)
HEM Securities	+ Sesa Goa	Buy	Mar 05, 08	4,365.00
Indiabulls	+ Bharat Heavy Ele	Buy	Mar 05, 08	2,850.00
Prabhudas Lilladher	+ ICICI Bank	Buy	Mar 05, 08	1,590.00
Edelweiss Capital	+ Ashok Leyland	Buy	Mar 05, 08	-
Sharekhan	+ Unity Infraprojects	Buy	Mar 03, 08	970.00
Emkay Share	+ Plethico Pharmaceuti	Buy	Mar 03, 08	569.00
IL&FS Investsmart	+ Blue Star	Buy	Mar 03, 08	478.00
Motilal Oswal	+ Suzlon Energy Ltd.	Downgrade	Mar 03, 08	309.00
Prabhudas Lilladhar	+ Elecon Engg.	Market Performer	Mar 03, 08	269.00
Ashit C Mehta	+ Tata Consultancy	Buy	Mar 01, 08	1,053.00
Prabhudas Lilladher	+ GlaxoSmithKline Phar	Market performer	Feb 29, 08	1,136.00
Prabhudas Lilladher	+ ITC Ltd.	Outperformer	Feb 29, 08	226.00
Angel Research	+ Bombay Dyeing	Buy	Feb 28, 08	1,147.00
CLSA	+ GlaxoSmithKline Phar	Outperformer	Feb 28, 08	1,100.00
Sharekhan	+ Unity Infraprojects	Buy	Feb 28, 08	970.00
CLSA	+ Bharat Petroleum	Outperformer	Feb 28, 08	505.00
Karvy Stock Broking	+ Wockhardt Ltd.	Buy	Feb 28, 08	455.00
Indiabulls	+ National Alumini	Sell	Feb 28, 08	292.00
Macquarie Research	+ GMR Infrastructure L	Outperformer	Feb 28, 08	205.00
CLSA	+ Dabur India	Buy	Feb 28, 08	150.00
Prabhudas Lilladher	+ M&M Fin.Services	Market performer	Feb 28, 08	-
Edelweiss Research	+ Jindal Saw	Buy	Feb 28, 08	-
Edelweiss	+ Jindal Saw	Buy	Feb 28, 08	-
Edelweiss Research	+ Mahi. & Mahi	Buy	Feb 28, 08	-
Sharekhan	+ Unity Infraprojects	Buy	Feb 27, 08	970.00

Source: Rediff

RK

06 March 2008 : Indian Stock Market News, Analysts Views and Tips

MoneyControl
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• Mkts need local news for direction: PN Vijay
• Mkts could see further correction: Experts
• Mkts seen volatile till subprime woes settle: Sundaram MF
• It's time to buy big PSU banks: Experts

Rediff
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SEBI will rationalise the intermediary fees that it charges, says CB Bhave, the new SEBI Cheif, reports CNBC-TV18. The fees will be reduced by 50-80%, and this reduction will come into effect from April 1, 2008, he adds.

If ITC can move above Rs 170-175, on a closing basis, then it can move up to Rs 225 and maybe even 240 in the next 2-3 quarters, says Vijay Bhambwani, technical analyst, on CNBC-TV18

Indiabulls has put a 'buy' rating on BHEL, with a target price of Rs 2,850, reports NDTV Profit.

Ashok Leyland is a 'buy' at current levels, says Ashutosh Goel of Edelweiss Capital, onn CNBC-TV18.

Morgan Stanley has cut its target price for SBI to Rs 1,910 from Rs 2,550, reports CNBC Awaaz.

IT heavyweights have limited downside, about 5-6%, says Vijay Bhambwani, technical analyst, on CNBC Awaaz.

The Economic Times
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Indian stock market returns second-best
A study by Dun & Bradstreet India indicates the domestic stock market has produced the second-best returns over a 10-year timeframe.

SEBI to cut time lag in listing of shares
SEBI will reduce gap between opening of an issue and listing of securities on bourse and make registration norms for FIIs more flexible.

International News
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US dollar stumbles to another record low against euro
NEW YORK : The US dollar slumped to fresh lows against the euro on Wednesday as traders digested a glum assessment on the US economy in the Federal Reserve Beige Book and braced for a potentially weak report on Friday

US stocks end higher as market shakes off Fed survey
NEW YORK : Wall Street stocks closed higher on Wednesday as the market shook off a Federal Reserve survey stating that the US economy was sputtering on several fronts amid a long-running housing market slump

NY oil closes above US$104 for first time
NEW YORK : Crude oil prices closed above 104 dollars a barrel for the first time on Wednesday in the face of sliding US crude stockpiles, a plunging dollar and after OPEC decided to maintain output levels.

Japan stocks up as U.S. fears ease, yen stabilises (at Reuters)

Fed report says U.S. growth slowed in early 2008
WASHINGTON (Reuters) - Federal Reserve districts all saw decelerating economic growth in early 2008, even as prices pressed upward almost everywhere, the central bank's "Beige Book" report on economic conditions said on Wednesday

Service sector slump wears on; Fed sounds grim
NEW YORK (Reuters) - The slumping U.S. service sector and a weakening job market dealt further blows on Wednesday to an economy teetering on the brink of recession, while bad news continued unabated on the inflation front

U.S. private sector jobs drop unexpectedly in Feb
NEW YORK (Reuters) - U.S. private employment fell unexpectedly for the first time in nearly five years in February, according to a private report on Wednesday that dealt another blow to an economy teetering on the brink of recession

U.S. productivity revised up but labor costs mount
WASHINGTON (Reuters) - U.S. productivity grew at a slightly faster-than-expected revised pace in the fourth quarter, government data showed on Wednesday, but an increase in hourly compensation pushed unit labor costs higher

RK
Rental Classifieds and Real Estate Social Network

05 Mar 2008 : Indian Markets will open lower but there wont be a bloodshed

Since we all know by now that Indian Markets are just following global markets it is a no-brainer to guess which way the markets are going to go. Asian Markets are down a little, US markets also closed either flat or in the negative so the Indian markets will open lower. How it ends? I don't know. I am not an expert but I really don't care too much about it. No point in breaking my head wondering how each stock will move. I am taking it day by day and I am willing to hold on for an year if the markets go down too badly.

I have little spare amount to invest but i am holding onto it and avoiding the temptation at every fall. Reason being I don't know at the moment how many more such falls are going to come. I am more looking at cutting down on my losses.

RK

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

03 Mar 2008 : Indian Stock Market News Round up

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Loan waiver will not lead to collapse of banks: FM
Finance Minister P Chidambaram on Sunday sought to allay apprehensions that the Rs 60,000 crore farmers' package will lead to collapse of the cooperative and scheduled commercial banks and weaken the banking system

JMC Projects: Buy
JMC Projects has managed a successful turnaround, transitioning from a company with eroding net worth to one with a strong balance sheet in two years.

UTV Software: Hold
UTV Software, which has firmly established itself in the movie production business, is inching faster towards its ambition of becoming a global integrated media player with a presence spanning television content, broadcasting, films, gaming and animation

Divi’s Laboratories: Buy
Investments with a two-three year perspective can be considered in the stock of Divi’s Laboratories, a leading player in the pharma contract manufacturing space

Allcargo Global: Buy
Investments with a two-three year perspective can be considered in the stock of Allcargo Global Logistics, a leading integrated logistics solution provider

Infotech Enterprises: Hold
Shareholders can continue to hold the Infotech Enterprises stock with a 12-18 month horizon

Tata undecided about reducing Nano price
Following the reduction in excise duties in the union budget, automobile major Tata Motors has slashed the prices of its Indica and SUV models. However, the company Saturday said it was undecided about lowering the price of its forthcoming model Nano, already considered the world's cheapest car at Rs 100,000 ($2,500).…

RIL, Essar raise petrol prices
Within a couple of weeks, the two private sector petroleum companies Reliance Industries and Essar Oil have again resorted to a hike in petrol and diesel prices. Reliance has raised petrol price by Rs 4.5 per litre and left diesel price untouched.

Commodity trading to turn a costly affair
Introduction of commodity transaction tax (CTT) similar to that of securities transaction tax (STT) seems to have not gone well with the exchanges and broking firms alike

The Financial Express
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OEH wont let Tatas take over
Luxury hotel chain Orient-Express, in which the Tatas have become the second-largest shareholder, has said talks about its possible acquisition could affect its share price although its anti-takeover measures are firmly in place

Dalal Street to follow global cues, say analysts
The Indian Stock market is likely to follow global cues in the coming weeks, while the Budget proposals for 2008-09 are unlikely to have any prolonged impact on investor sentiments, said analysts

Securities transaction tax to help boost govts earnings
Despite the sluggishness in manufacturing and a lower growth projection, along with additional spending due to projected rise in food and oil prices, the government hopes to earn Rs 6,02,935 crore though tax and non tax revenues, a 14.8% rise in its earnings.

Kamath sees no rate cuts soon
The chief executive of ICICI Bank Ltd, India's biggest private-sector bank, said on Friday he did not expect the country's central bank to ease interest rates soon

Market corrections are part and parcel of long-term bull markets
The recent correction has been around 20%, while the May '06 correction was over 25%. This is not alarming as Indian equity markets have a history of sharp corrections ranging from 20-25%

The Economic Times
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Virgin Mobile enters India, partners Tata Teleservices
Sir Richard Branson decided to hang in front of a five-star hotel in Mumbai on Sunday, to announce the launch of his brand in India’s mobile phone market

Nano effect: Tatas can stand by Rs 1-lakh car promise
A 4% reduction in excise duty on small cars has augured well for the Nano, the Rs 1 lakh car of Tata Motors

It's pay-back time as FM caps mkt speculation
The increase in short-term capital gains tax and no reduction in corporate tax are sentimentally negative for capital markets

International News:
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Asian stocks savaged as dollar plumbs new depths (Reuters)
The dollar fell to a record low against a basket of currencies on Monday, dragging Asian stock markets down and compounding worries about a likely U.S. recession and more write-downs in the global financial sector

Singapore shares down on US economy worries
Singapore shares were down 2.8 per cent in opening trade early Monday over concerns about the US economy and financial sector

RK
Rental Classifieds and Real Estate Social Network

Indian Stock Market and Business News - 28 Feb 2008

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IOC gets shareholders nod for BRPL merger with itself
The country's largest oil firm, Indian Oil Corporation, said on Wednesday the shareholders have approved the merger of its subsidiary Bongaigaon Refinery and Petrochemicals Ltd (BRPL) with itself

Gold scales to new peak of Rs 12,460, silver to 27-yr high
Soaring crude oil prices and falling dollar pushed gold to an all-time high of close to Rs 12,500 per 10 gram and silver to a 27-year record level of Rs 23,600 per kg on the bullion market today, enhancing its appeal as a hedge against inflation

Crude oil price moves above $102/bl
Crude oil price moved above $102 per barrel as the dollar fell to an all-time low against the euro, according to a report on the website of Bloomberg

Inputs costs, demand seen lifting India steel price
Rising costs of iron ore and other inputs as well as strong demand will likely push up Indian steel prices over the next six months, despite government attempts to contain them, industry officials and analysts said.

'No proof of rigging in RPower IPO'
The government has found no evidence of rigging in the Initial Public Offer of Reliance Power by the promoters or merchant bankers, the Rajya Sabha was informed on Tuesday.

The Economic Times
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Indian demand adding to US inflation: Fed official
Partly attributing rising inflation in US to growing demand in India and China, Fed Vice-Chairman said the Fed would focus on price stability and growth

'High dividend shares are smart investment'
Shares in cos with high dividend payouts are seen as good investment in the current depressed scenario as investors look to protect their capital

The Financial Express
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Railways upgrade may put IT sector back on track
The beleaguered Indian IT industry that is facing uncertainty from its largest market - the US - has found an ally in Union railway minister Lalu Prasad Yadav. On Tuesday, Lalu's over Rs 2,000-crore technology upgradation plan that he revealed in his Rail Budget has opened up a big opportunity for the Indian IT players to reap in some moolah from one of the world's largest employers

Tatas woo Corus staff with tolerance
'Tolerance of difference and localisation' has become the motto for the Tatas as they began integration of close to 40,000 Corus steel workers at four sites in the UK with Tata Steel

Re rises on dollars drop versus euro; bonds gain
The rupee closed at the highest level in more than a week, on speculation investors sold the US currency, after its slide to a record low against the euro.

Infosys develops tool to improve agri supply chain efficiency
Indian IT major Infosys Technologies has developed an information and communication technology-enabled application to help small farmers integrate their business with large retailers and improve efficiencies in agro supply chain.

International News
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CNN : Dollar slides to record low
Oil down after surging to new record

Yahoo: Japan stocks sink on strong yen, weak output data (at Reuters)

Reuters:
Dollar stays near record low beyond $1.50 to euro
The dollar hovered near record lows versus the euro as a sharp drop in durable goods orders and home sales fueled recession concerns while Federal Reserve Chairman Ben Bernanke signaled a readiness to cut interest rates again

Bernanke says Fed prepared to help U.S. economy
Federal Reserve Chairman Ben Bernanke on Wednesday signaled a readiness to cut interest rates again to prevent further damage to the weak U.S. economy, even as he took note of rising inflation risks

Jan durable goods orders fell 5.3 percent
New orders for long-lasting U.S.-made manufactured goods fell by 5.3 percent in January, the biggest drop in five months and more than analysts expected, and a key gauge of business spending also declined, a Commerce Department report showed on Wednesday


RK
RentalAndRealEstate.com

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:-

Sify
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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

19 - Feb -2008 : Indian Stock Market News Round up

Here is the regular round up of the important news from various financial websites and papers

Sify

Rupee falls on oil payment, global concerns
Indian IT industry unlikely to witness downturn: Gartner
‘Probe into Jan 22 market crash if concrete evidence found’

IBN Live

Anil's offer of bonus shares brought share 7 pc up
Market speculation beyond permissible levels

Economic Times

Emerging Markets Management is bullish on IT cos
After cheapest car, Tata to make air-car
Aggressive pricing spoilt IPO market: Survey



RK

RentalAndRealEstate.com - Rental and Real Estate Classifieds

15 - Feb -2008 : Analyst's Views and whats in store for the day ahead!

Mr.Bernanke's comments have pulled down the US markets yesterday and the Asian markets are following suit today morning. My guess is that India will be no different.

If you had read some of the analysts views about the yesterday's surge its clear that they see it just as a blip and not the start of a new bull run. Trading volumes were low yesterday so they claim investors have not fully participated which means there is still lack of confidence.

If the US markets had closed with some positive news then I would have hoped that Indian markets would have ended the week bringing joy to all the investors and traders but its going to be another rough ride today.

One thing is clear it does not matter how good the Indian economy is and will be growing but it really matters how US economy is. Perhaps this will be the case till China and India become the world's two biggest economies then the stock markets will reflect the true condition of the economy.

I will be updating the post through out the day as when the analyst's views come in.

PS: Asian markets have opened in the red

RK
RentalAndRealEstate.com

15 -Feb - 2008 : Overnight Headlines to start your day

Overnight headline's:

Economic Times

• Promoters take advantage of mkt meltdown
• Separate hype from reality on US slowdown: Accenture
• RCom for possible takeover of Capgemini
• India, China to drive auto growth in 2008: Daimler

Financial Express

• Govt Bites The Bullet: Fuel Prices Hiked
• Indias gold demand rises 6%
• Financial reforms unlikely to take place before LS polls
• Steel companies relent, agree to roll back hike

CNN Money

• Wall Street slumps as investors react to Fed chair's economic outlook.Stocks tumbled Thursday as investors reacted to Federal Reserve Chairman Ben Bernanke's Congressional testimony that economic conditions are likely to get worse before they get better
• Gore to Wall Street: beware of 'subprime carbon'
• Boeing partners with Tata for plane parts

Sify

• Boeing, Tata announce new joint venture
• Wipro unit wins $50 m outsourcing deal
• Idea adds 1.2 million new connections in 2007-08
• 'IT sector layoffs unrelated to economic slowdown'
• NIIT Tech adopts new model to boost profitability
• Punj Lloyd to build $282 m resort in Singapore

ChannelNewsAsia

• New York state governor Eliot Spitzer warned Thursday that bond and credit woes afflicting Wall Street and global markets could turn into a more damaging "financial tsunami."
• US dollar slips after Fed chief opens door to rate cuts
• Dow slumps as Fed chief sees 'sluggish' growth
• US sub-prime crisis costs global loss of US$7.7 trillion
  

MoneyControl

• Mkt gains driven by large-scale short covering: MS
• Fuel prices hiked to avoid fiscal system collapse: PM
• Volatility to continue for now: Mangal Keshav

Business Standard

• Tatas find an ally in Orient-Express battle
• Boeing, Tata form India JV for aerospace parts
• Cap on foreign inflow into debt market to stay: RBI
• India can sustain 9% growth: PM

14 - Feb -2008 : Happy Valentines day to all the investors and traders!!

Finally, there is something to cheer about on Valentines day. There were positive news everywhere - US retail sales were better than expected, Japan economy grew more than expected and the the markets did not disappoint.

It was a brilliant day. Sensex closed at 17766, up 817 points and Nifty at 5202, up 272 points from the previous close. More importantly there were no wild swings during the day. It was pretty stable which is the most positive news.

European markets are also trading in the positive and if US closes positive today then we can expect a bonanza tomorrow and at least I can recover all my losses. Looking forward to it.

The one stock I am worried about in my portfolio is Satyam Computers. I bought it at 442 and have been holding it for 4 months now and I have not seen go past 442, expect briefly. So I am in a dilemma to sell it or hold it. Lets see how it goes tomorrow.

I end this post with some of the Analyst's view from the day

In the IT space, if Satyam stays above Rs 420 one can hold on to the stock for long term and it has a target price of Rs 500-520 in two weeks, says says MB Singh, technical analyst, on Zee Business

Following the fuel price hike, ONGC amd Oil India will share 33% of under recoveries, says Oil Secretary M.S. Srinivasan, on NDTV Profit

If one has a 6-8 month horizon, stocks to accumulate are ICICI Bank, SBI, BHEL and L&T as they are likely to offer good returns, says Shishir Kedia, technical anlayst with Religare Securities, on CNBC Awaaz

Investment sentiment continues to be cautious and that trend is likely to continue for a few weeks, says Malcolm Wood of Morgan Stanley, on CNBC TV18. The market is offering tremendous buying opportunity at this time, he adds

Global concerns are not yet over and we are still not out of the woods, feels Rajesh Jain of Pranav Securities, on NDTV Profit

The market had gone down too far, too fast and it is advisable to wait and watch in this scenario, says Gaurang Shah of Geojit Financials, on NDTV Profit. This relief rally needs to be sustained and the market is not running away on the higher side for investors, he advises


The market has got some positive breather from the oil price hike, says Deven Choksey of KR Choksey, on CNBC-TV18. Next week the market is likely to see be in the range of 16200-18500, he adds

The petrol and diesel price hike will see an annualised benefit to oil companies of around Rs 6500 crore, reports NDTV Profit. The price hike will see IOC benefit by Rs 410 crore for the remaining of FY08, says S V Narasimhan, director, finance of the company, on the channel

RK
RentalAndRealEstate.com

14 -Feb -2008 : Can Valentines day bring cheer to the Indian Markets?

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Headlines of the Day:
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Economic Times

It is time for caution: Infosys CEO

Software firms worry US weakness will hit India biz

R Power loss totals about Rs 100 a share

India may feel pinch of global crisis: IMF

CNN Money

Retail sales spark rally, Blue chips rally for 3rd session

Financial Express

Another Fed cut likely as borrowing costs stay high

Learn lessons from American slump: Left tells UPA govt

Double taxation and multiple levies hampering growth

IMF asks India to gear up to tackle global crisis

Moodys alarm bell for 2008 as well

Sify

Rupee at 2-½ month lows on dollar squeeze

Special bonds pose risk to India deficit: JP Morgan

ChannelNewsAsia

Japan's economy grows 3.7% in fourth quarter of 2007

Singapore's economic growth moderates in Q4 of 2007

US dollar gains after strong US retail sales data

Wall Street rallies on upbeat retail sales data

Bush signs economic stimulus package

MoneyControl

See buying opportunities in mkt: Morgan Stanley

No positive triggers for mkt in near-term: Religare

Enough forces to keep mkts volatile: Pranav Sec

Sensex to see 21K-24K range in 1 year: MOST

See large exodus of foreign investors: ABN Amro

Business Standard

Sebi brings art funds under its canvas

US Markets ended in green, Asian Markets are in green at this moment and I can only see happy people the end of the day. Happy Valentines Day!!

RK
http://www.RentalAndRealEstate.com

13 - Feb -2008 : Market ends on a high!!

Indian Markets ended on a positive note even though the European markets were trading in the negative and Asian markets had closed mixed.

Day was mostly stable and the expected volatility was not there. But the overall market breadth was negative - there were more declines than advances.

Markets will be in trouble tomorrow if US and Europe closes in negative today. Its going to be a wait and watch policy. At least I am not going to invest anytime soon. I will wait for at least a week of stable trading before I make a decision. I am a novice and I don't want to risk anymore of my money

RK
http://www.RentalAndRealEstate.com

13 -Feb -2008 : Today could be a mixed bag!

First, the overnight headlines from some of the websites
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Pre -Market News:-
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Economic Times

India's industrial activity is expected to cool due to the impact of RBI's policy tightening and the rupee's appreciation: HSBC

Financial Express

In a move that is expected to spur consumer spending, finance minister P Chidambaram on Tuesday asked public sector banks (PSBs) to ensure adequate credit supply for home and consumer durables purchases

At 24%, India to log highest SMB IT spend in BRIC

TCS to restructure for agility

Industrial growth plummets to 7.6%

Tea exports in 2007 fall 28% on rupee rise

Coffee touches a decade high

IBN Live

Market mayhem: Parliament panel wants change in norms

ChannelNewsAsia

US job cuts mount as slowdown erodes corporate profits

US stocks end mixed as Buffett reaches out to insurers

MoneyControl

Don't see knee jerk reaction below 16k: Mangal Keshav

Mkts can fall another 7%: India Infoline

Feb 11 crash similar to May '06 correction

Business Standard

CBDT wants capital gains tax for all FIIs :- n its pre-Budget proposals to the finance ministry, CBDT has sought an amendment to Section 115 AD of the Income Tax Act so that all foreign institutional investors (FIIs) pay capital gains tax on their profits in India

Revisit realty sector exemptions: I-T Dept

ICICI-Pru to launch first fixed maturity plan for retail investors

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Analysts Views:-
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Ashwani Gujral, technical analyst, on CNBC Awaaz :

Sentiments have turned negative in the market which has become 'sell on rise and not buy on dips'

Chetan Ahya of Morgan Stanley, on NDTV Profit :

Indian growth story is less likely to be affected by a US slowdown. Indian GDP growth is expected to be at 7.4% in FY09 and Indian inflation is being assumed at 4.7% average for FY09, he adds. Emerging markets are better poised to face a mild US recession, he says

Anil Maghnani, technical analyst, on CNBC-TV18 :

Nifty has strong resistance at the 200 DMA level of 4975 and till it closes above that convincingly one should not go long in this market

Rajat Rajgarhia, Motilal Oswal, on CNBC TV18 :

Sensex is likely to be in the range of 20,000-24,000 in one year

Gaurang Shah, Geojit Financials, on Zee Business :

The banking sector is likely to outperform in the long term and stocks that can be accumulated in this space include ICICI Bank, SBI, Axis Bank and Kotak Mahindra Bank

Prashant Jain, HDFC MF, on CNBC Awaaz :

The market is likely to see short-term volatility but India's long-term story is intact

Sandep Wagle, Angel Broking, on NDTV Profit :

If Sensex breaks 15300 then it could be called a bear market but until then it could be termed a corrective phase

Ridham Desai, Morgan Stanley, on CNBC TV18 :

About 10% lower than current levels would be a fair value for the market. The market is expected to give 18-20% earnings growth and one should stay with the largecap stocks. The Indian IPO market is likely to remain lackluster and investors may use lower prices to buy stocks

RK
http://www.RentalAndRealEstate.com

12-Feb-2008 : Is there light at the end of the tunnel!!

Since the markets are being hammered we now have analysts coming forward and talking about cyclical bear markets. Stock market analysts seem to be more like cricket commentators. All are good at making statements after the results are out! Anyways lets see what the markets have in store for us today.
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Pre-Market : Is there a hope??
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Fortunately, US Markets have closed in the positive and it is reflected in the Asian Markets. Most of them have opened in the positive. That's a good sign, at least for today.

I was hit by this most damning of statements while browsing through the various news sites

Sensex may fall another 20% by yr-end: First Global

Another one that caught my eye after the Reliance Power debacle is

Is it the end of the road for primary market?

Some encouraging statements were also there

TCS sees no immediate impact due to US slowdown

The global equity market meltdown hit India the least compared with other emerging equity markets in January. The Indian market shed 16% as against Russia's 16.12% and China's 21.40% - Do you consider this as positive?

Asian markets being in the positive territory is a solace so my guess is that Indian markets will follow them but how they close will be another matter altogether.

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Market : Did it react as expected?
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Market has opened positive in line with the other Asian markets but was hugely volatile through out the day. And it has closed in the negative but the day has to be termed very good as compared to yesterday. The volatility is still there - guess people are ready to sell off whenever the stocks make a slight recovery. It can only say that there are lot of speculators in the market than investors. People seem to be worried. India is still growing and there is no bad news on the economy front but still people don't seem to have the confidence. I am not sure what the FIIs and the MFs are doing. Are they staying put or selling off?

But one thing for sure, whatever happened in the last few weeks is good for the genuine investors who look to invest in fundamentally strong stocks. They must have felt like fools when the dubious stocks were running up crazy and the sound stocks stuck.

European markets are in positive but only marginally. If we will have a couple of days without negative news from US then the world markets will get a chance to stabilize and we can all take a breather.


RK
http://www.RentalAndRealEstate.com

11-Feb-2008 : Predictions for 12th Feb??

Any readers willing to predict how the markets will move tomorrow?

Please leave a comment and it should make for interesting discussions

RK
http://www.RentalAndRealEstate.com