Nifty adopts Free Float market cap calculation methodology

Nifty has moved on to free float method for calculating the weights of the companies in the index. I just checked on investopedia for the definition of free-float methodology and this is what it says

Free-float methodology market capitalization is calculated by taking the equity's price and multiplying it by the number of shares readily available in the market. Instead of using all of the shares outstanding like the full-market capitalization method, the free-float method excludes locked-in shares such as those held by promoters and governments.

Calculated as:

And it also goes on to say that "The free-float method is seen as a better way of calculating market capitalization because it provides a more accurate reflection of market movements."

And what was the impact of this?

"stocks that will lose their weightage in the index have seen sharp falls in share prices in the past few days," says a report from business line. It also points out that the selling is from the index funds who have to realign their portfolios based on the new weights assigned. Some of the companies that have lost weightage are NTPC, ONGC, Power Grid, SAIL and Bharti Airtel.

In general I think this is a move in the right direction for NSE and Nifty.

rk

Warren Buffet's funny and sensible quote

Warren Buffet is supposed to have quoted the following during an interview on US economic recovery

"You can't produce a baby in one month by getting nine women pregnant."

it does make sense, doesn't it?

Top 10 challenges for India to overcome!!

Goldman Sachs Economic Research has come out with a list of challenges that India needs to overcome if she has to achieve her true potential. The paper titled Global Economics Paper contains the following list

1. Improve governance
2. Raise basic educational achievement
3. Increase quality and quantity of universities
4. Control inflation: Try Inflation Targeting?
5. Introduce a credible fiscal policy: a medium-term strategy
6. Liberalize financial markets
7. Increase trade with neighbors
8. Increase agricultural productivity
9. Improve infrastructure
10. Improve environmental quality

Well, there are no surprises in this list. They are more or less obvious and they are definitely the areas to invest in.

RK

Indian Mutual Fund Investors can rejoice!!

There is GOOD news for the Indian Mutual Fund investors. Sebi decided yesterday that there will be no ENTRY LOAD for any of the mutual fund schemes AND the distributor commission is to be paid by customers themselves and it wont be deducted by the fund anymore. What needs to be done now is to make sure that this message reaches the general public. Here is the snippet taken out of the news report on CNBC

The board considered the question of the existing manner of payment to the mutual fund advisors by investors and decided that there will be no entry load for any schemes. The investor will decide the commission that he is to pay to the distributor directly. It will not be deducted by the fund and then paid to the distributor. If the investor is making an application for Rs 100 that means the entire Rs 100 will get invested. There will be no deduction from that because there is no entry load. The board also decided that if the distributor is selling different schemes then he must disclose to the investor as to what commission he is getting for different schemes. This will avoid the conflict of interest and will allow investors to understand why a particular scheme is being recommended to them.

Warren Buffet's low diversification strategy good for small and average investors?

Warren Buffet is a great man and I am a big of him and his investment principles. He puts in lots of wisdom in those few words. However there is one principle of his that I do not fully agree with, or, at the least think is not good for small investors and for starters to follow. That's his "low diversification" strategy!

He espouses the virtue of concentration, rather than diversification, for beating the markets. This is valid but to do that the guy needs to be knowing exactly what he is doing and he needs to have lots of common sense and lots of financial acumen. But how many guys have it? 20%? maybe if you apply the 80:20 principle. That's why I think, and I experienced it first hand as well, diversification is the most important aspect that a guy, who has just started on his investing journey, and small investors, who put in their hard earned money, should follow.

For this category of investors I believe avoiding big losses and disappointments is the key and the only way to do this is through diversification - spreading your money across 30-40 stocks for e.g.. Of course one cannot achieve market beating results with this kind of diversification but one can at least limit downside on their investments. This can be the base that one can build on as they spend few years on the market and pick up the nuances of stock picking. Of course this means that one should spend the time and effort in trying to learn and gain knowledge. If the time and interest is not there then it is better to outsource your money management to a mutual fund manager.

I started investing at the end of 2007, right at the peak of the Indian markets. And I did the mistake of putting in too much money on too few stocks and too quickly. I did them by following analyst's recommendations and by following the technical charts. The result of it is that when the markets crashed my investments were down more than twice the index drop.

I have been trying to learn more about the markets and about stock picking since then. And I am also open to following different strategies to see which works for me and which I am comfortable with. Diversification and periodic investments(weekly) of smaller amounts is something that I am following now and it seems to be working for me - either because it really works or because the markets have been doing well of late. But it certainly does give me time to analyze each of these companies, that I like, in more detail without missing the upside and also limiting the downside.

RK

Warren Buffet mistakes in 2008

List of 50 stocks excluded from NSE futures and options contracts

The following list of stocks have been excluded from NSE futures and options contracts for an year. As per the report

the existing unexpired contracts for the month of and April, May and June 2009 would continue to be available for trading till their respective expiry and new strikes would also be introduced in these existing contract months.

This circular shall be effective from May 4, 2009

3i Infotech Limited

Alok Industries Limited

Amtek Auto Ltd

Aptech Limited

Arvind Limited

Balaji Telefilms Ltd.

Ballarpur Industries Limited

Bata India Ltd

Birla Corporation Ltd

Bombay Dyeing & Mfg Co. Ltd

Central Bank of India

Development Credit Bank Limited

Edelweiss Capital Limited

Escorts Ltd

Everonn Systems India Limited

Gateway Distriparks Limited

Gitanjali Gems Limited

Gujarat Narmada Valley Fertilizer Co. Ltd.

Gujarat Alkalies and Chemicals Ltd.

Havells India Limited

HCL Infosystems Ltd

Hindustan Oil Exploration Co. Ltd

IRB Infrastructure Developers Limited

Jet Airways (India) Ltd.

JSL Limited

Kesoram Industries Ltd.

KSK Energy Ventures Limited

The Karnataka Bank Limited

Lakshmi Machine Works Ltd.

Mahindra Lifespace Developers Limited

Maharashtra Seamless Ltd

MindTree Limited

Monnet Ispat Ltd

MRF Ltd.

Nava Bharat Ventures Limited

New Delhi Television Limited

Network 18 Fincap Limited

NIIT Limited

Peninsula Land Limited

Rajesh Exports Ltd.

Reliance Industrial Infrastructure Limited

S. Kumars Nationwide Ltd

SREI Infrastructure Finance Limited

SRF Ltd.

Strides Arcolab Limited

Thermax Ltd

Torrent Power Limited

TVS Motor Company Limited

UTV Software Communications Limited

Wockhardt Limited

Indian Companies 2008 - 2009 Annual Results on 17th Apr 2009

The following companies have reported their annual and 4th quarter results on 17th April 2009.

SBI Home Finance:- For the full year ended March 2009, net loss reported to Rs 24.63 crore as against net loss of Rs 18.25 crore during the previous year ended March 2008.

GRUH Finance:- For the full year ended March 2009, net profit rose 18.75% to Rs 50.28 crore as against Rs 42.34 crore during the previous year ended March 2008.

Sukhjit Starch & Chemicals:- For the unaudited full year, net profit declined 40.45% to Rs 12.00 crore in the year ended March 2009 as against Rs 20.15 crore during the previous year ended March 2008.

Logix Microsystems:- For the unaudited full year, net profit rose 82.35% to Rs 8.37 crore in the year ended March 2009 as against Rs 4.59 crore during the previous year ended March 2008.

Mysore Paper Mills:- For the unaudited full year, net profit rose 337.35% to Rs 22.13 crore in the year ended March 2009 as against Rs 5.06 crore during the previous year ended March 2008.

Sonata Software:- For the full year, net profit rose 45.43% to Rs 53.36 crore in the year ended March 2009 as against Rs 36.69 crore during the previous year ended March 2008.

Power Finance Corporation:- For the unaudited full year, net profit rose 12.30% to Rs 1355.19 crore in the year ended March 2009 as against Rs 1206.76 crore during the previous year ended March 2008.

ETC Networks:- For the unaudited full year, net profit declined 59.93% to Rs 9.36 crore in the year ended March 2009 as against Rs 23.36 crore during the previous year ended March 2008.

Compuage Infocom:- For the full year, net profit rose 3.74% to Rs 4.44 crore in the year ended March 2009 as against Rs 4.28 crore during the previous year ended March 2008.

Saving money, cutting expenses during recession

I liked to buy the latest editions of popular magazines as soon as they go on sale. Now I save up some money by waiting a month or two and picking up a copy at the nearby library.

Also read "A funny way to cut costs"

RK

Smart ways to save money during recession

1. If you have more than one girl friend then layoff the most expensive ones
2. If you have a single girl friend then cut down on expensive dinners and gifts
3. If girl friend is not reasonable then meet her less often or better take a break and enjoy your single hood
4. If you have a mistress then its needless to say that you won't be able to maintain her any longer. So people!!! recession is not a bad thing after all. It actually helps your spouse to remain faithful to you.
5. If you have a wife then god save you!

funny?

RK

Think before investing in India's Exchange Traded Index Funds

Index Funds are good. How about Exchange Traded Index Funds? They are good. That's what we are told and that's what I thought until I checked the volumes of the ETFs listed on NSE. To my horror and surprise I found that the volumes are miserably low and for some funds there were no trades at all. I use the stats from 6th Mar 2009 to drive home my point

Benchmark Mutual Fund-Nifty Junior Benchmark ETF -6257
Benchmark Mutual Fund-Nifty Benchmark ETF -76129
Benchmark Asset Management Company Pvt. Ltd. - Bank Index -1900
Reliance Mutual Fund -Banking Exchange Traded Fund (ETF) -236
Quantum Index Fund -Exchange Traded Fund (ETF) -104
Benchmark Mutual Fund - PSU Bank Benchmark Exchange -510
Traded Scheme
Kotak Mahindra Mutual Fund -0

From the stats you can clearly see that the volumes are pathetically low so its quite possible that you won't be able to sell when you want and at the prices you want since the spread between the bid and ask prices are high. Out of these funds only Nifty Benchmark Index seems to have decent volumes so that may be the only fund worth looking at.

I think the concept itself is very good but unless more people are aware of these funds and participate in them you are in real danger of getting stuck. You may not find buyers and you may get quotes far less than the market price. So think hard before investing in the ETFs.

RK

Top Indian Stocks To Buy, Stock Picks : Which companies are attractive now in the Indian Stock Market?

I like few companies that are very attractive for investing/trading on the Indian Stock Market

For investment purposes I like Bartronics (No bad news here), IDFC (I think slowdown in infra lending considered here ) and Suzlon (I think it has been battered enough and all the bad news has been incorporated). I will buy Bartronics at the current levels but will wait for IDFC and Suzlon to fall a little since they have run up quite a bit in the last week or so.

For trading purpose I like banks - Axis and ICICI. This sector again was the most affected and I think only better times are ahead for this sector esp with the falling lending/interest rates. Axis is a definitely a buy at current price but ICICI has to go down to around 350 or less to be a buying stock.

RK

12 March 2008 : Indian Stock Market and Business News roundup

MoneyControl
------------------------------------------------------------------------------------------------------------
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

Sify
------------------------------------------------------------------------------------------------------------
'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
------------------------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------------------------
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

10 Mar 2008 : Indian Stock Market Weekend News Roundup

Sify
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
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

07 Mar 2008 : Indian Stock Market News Round up

Sify
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------

• 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
------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------
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 Stock Market News and Analysts Tips

MoneyControl
------------------------------------------------------------------------------------

• 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

Sify
------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------
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 Stocks to see a mayhem today!!

I see that Indian stocks will take a huge hit today. It is going to follow the Asian markets who have taken a battering already.

God!! prove me wrong!

RK