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Headline News
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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 122 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Wipro did nothing wrong: Premji to employees
- Satyam stock plunges 90% on NYSE
- Gujarat : A vibrant future
- Airtel begins Lanka mobile operations
- India's telecom industry earns Rs.37,000 crores / USD 7.5 bn revenue in Q2
- Indian flights to US score low on safety
- Kabir Mulchandani jailed in Dubai
- IcySpicy: A R Rahman - the first Indian to win Golden Globe Award
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SENSEX: 9,071.4 DOWN 57.2 % from 52-wk high
FOREX-Rs: USD 48.88 / EUR 64.77 / GBP 71.99
Do read Investment Advice for long-term investors in this issue.
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NRI.NewsIndia
Makes me feel good
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Wipro did nothing wrong: Premji to employees
Hours after World Bank made public that Wipro has been debarred from doing any business with the global lender, the company's chairman Azim Premji wrote to over 1,00,000 employees saying that the company had not done anything unethical.
The company, in 2000, had provided staff option to purchase its American Depository Shares at IPO price through a Directed Share Programme. However, the World Bank in June 2007 determined that this was a conflict of interest.
Premji further explained that all participants in the Direct Share Programme signed a conflict of interest statement that their purchase did not violate any ethics or conflict of interest policies of their company.
http://timesofindia.indiatimes.com/Business/Wipro_did_nothing_wrong_Premji/articleshow/3972498.cms
A vibrant future (TOI,Mum,13Jan09,Pg1)
The first day of the Vibrant Gujarat Global Investors’ Summit 2009 in Ahmedabad on Monday saw the Narendra Modi government signing 444 MoUs worth Rs 7.49 lakh crore.
Kabir Mulchandani jailed in Dubai (TOI,Mum,13Jan09,Pg1)
Businessman Kabir Mulchandani, the man who brought Akai and Aiwa electronic goods to India, has been jailed in Dubai for his alleged role in a $100 million realty fraud.
Indian flights to US score low on safety (TOI,Mum,13Jan09,Pg1)
India faces the threat of being downgraded by the US Federal Aviation Administration (FAA) for consistently not adhering to the safety standards of the International Civil Aviation Organisation.
The result of the downgrade will mean that Jet Airways and Air India, which operate to and from the US, will face stringent security checks when planes land there.
If downgraded, Air India and Jet will not be able to change or expand their US schedules.
Also, other airlines will be unable to start operations there. If there are violations in the case of any Air India or Jet plane, the aircraft can be impounded and a heavy fine levied.
For news in detail, visit The Times of India ePaper
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Airtel begins Lanka mobile operations (ET,Mum,13Jan09,Pg5)
Bharti Airtel on Monday launched mobile services in Sri Lanka becoming the fifth mobile operator in the country.
Airtel will invest about $200 million for its rollout in Sri Lanka offering services on 2G and 3G platforms. Sri Lanka is the third international market for Bharti, which already operates in Jersey and Guernsey Islands in Europe and in Seychelles.
India's telecom industry earns Rs.371 bn revenue in Q2
The Indian telecom sector continued its robust growth with the wireless market growing at 9.91 percent and churning revenues worth Rs.371 billion (Rs.37,196 crore / USD 7.5 billion) for the second quarter ending September, an official agency said on Tuesday.
The total subscriber base of the wireline and wireless services reached 353.66 million (35 Crore) for the quarter ending September.
Satyam stocks plunges 90% on NYSE (ET,Mum,13Jan09,Pg5)
NEW YORK: The New York Stock Exchange on Monday said it will delist satyam shares only if its average share price for 30 trading sessions goes below one dollar. With a plunge of over 90% at the NYSE, Satyam slipped below $1 in the early morning trade but regained this mark shortly thereafter.
For news in detail, visit The Economic Times ePaper
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IcySpicy
THE DAY OF THE UNDERDOG! (BT,Mum,13Jan09,Pg1)
...as Slumdog makes a clean sweep at the 66th Golden Globes
India had much to rejoice at this year’s 66th Annual Golden Globe Awards, as British filmmaker Danny Boyle’s Mumbai-based rags-to-riches story Slumdog Millionaire made a clean sweep at the awards ceremony held in Beverly Hills yesterday, winning over The Curious Case Of Benjamin Button, Frost/Nixon, The Reader and Revolutionary Road in the Best Film category.
Living upto it’s underdog theme, the film — adapted from Vikas Swarup’s novel Q & A — went on to win in all the four categories that it was nominated for, including the Best Film, Best Screenplay (Simon Beaufoy) and the Best Director for Danny Boyle.
The dream run continued with A R Rahman winning his first GG for the Best Original Score and becoming the first Indian to win the coveted award.
Bollywood star Anil Kapoor, Dev Patel and Freida Pinto too attended the event and were clearly ecstatic with the win. “Golden Globes — your mad, pulsating affection for our film is much appreciated, really deeply appreciated,” said Boyle. He also thanked the people of Mumbai, “who are all watching, by the way,” and ultimately choked up when he thanked his kids.
The event had it’s fair share of Bollywood as superstar Shah Rukh Khan too was one of the presenters at the awards — which are considered a precursor to the Oscars — rubbing shoulders with other international biggies including Tom Hanks, Salma Hayek, Jennifer Lopez, Sandra Bullock, Pierce Brosnan, Cameron Diaz, Sean “Diddy” Combs, Johnny Depp, Sting and Zac Efron, among many others.
Slumdog Millionaire, a rags to riches story was shot in the slums of Juhu and Versova in Mumbai. The cast had a mix of British and Indian actors including slum children from Mumbai.
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex came down by 0.4 % today.
SENSEX: 9,071.4 (-0.4%) NIFTY: 2,745.0 (-1.0%)
DOWN..57.2 % from 21,26.77 the 52-week high of SENSEX
UP...........5.9 % from 12,514.02 the 52-week low of SENSEX
Investment & Wealth Creation Advice:
Please note that our advice is primarily for investors and not for speculators. Investors typically invest with 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue.
We expect Sensex to come down to 7000-8000 level in the next few months. So, it is going to be a very good time for investments in good stocks.
Also, those who want to invest in realty in India should wait for some time as the flat and land prices are expected to come down substantially in the next 3-4 quarters.
Do consult your investment advisor before making any investment decisions.
Do not purchase shares of a good company at a wrong price. Also, do not purchase shares of a bad company even at a very low price.
Do not put all your eggs in one basket. Diversify your portfolio to de-risk. Do not put more than 33% of your investible funds in stocks or mutual funds. Do not invest in stocks, mutual funds or realty when their prices are quite high. From the high levels, these prices normally come down by about 40-50% and that is when many people lose their hard earned money in a big way.
Make sure that you are not one of those big losers. Make sure that you invest when prices are low and divest when prices are high. Please note that 2009 is going to be a great year for investing your money in stocks, mutual funds & realty in India.
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Disclaimer: Please make all your investments after taking expert advice. NRI.NewsIndia will not be responsible for losses, if any, incurred by you. Through NRI.NewsIndia, we are only making you aware of the investment opportunities in India at a broad level.
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