Friday, January 16, 2009






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Emerging India

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Hand-picked News For Busy NRIs & PIOs
Issue No. 124 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:

  • Anil Ambani, Sunil Mittal root for Modi as future PM
  • UN goodwill envoy Sanjay Dutt to meet Obamas
  • Price Waterhouse admits to goof-up in Satyam audit
  • Foreign brands queue up to enter India
  • Satyam’s loss could be TCS’ gain
  • IcySpicy: Preity Zinta: Looking like a million bucks!
  • Graffiti: Spare a thought for strays in Mumbai: Pamela Anderson

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SENSEX: 9,046.7 DOWN 57.3 % from 52-wk high

FOREX-Rs: USD 49.01 / EUR 64.55 / GBP 71.53

Do read Investment Advice for long-term investors in this issue.

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NRI.NewsIndia

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Anil Ambani, Sunil Mittal root for Modi as future PM (TOI,Mum,15Jan09,Pg1)

The line made immortal by character actor Iftekar in the mega-hit Deewar seemed apt enough for Gujarat chief minister Narendra Modi when industrialist Anil Ambani feted him as a “lambi race ka ghoda’’.

Ambani was not just referring to Modi’s ability to last the course. Unusually for an industrialist referring to an Opposition politico, he saw in the Gujarat CM all the makings of a future PM. “People like him should be the next leader of the country,’’ he said, quoting the late Dhirubhai Ambani on the ‘race’ imagery.

If the younger of the Ambani brothers batted for Modi, Bharti group’s Sunil Mittal was not far behind. Speaking, like Ambani, at the Vibrant Gujarat summit organized in Ahmedabad, the telecom whiz said Modi was often compared to a CEO. “But he is not running any company or sector. He is running a state and is very much capable of running the whole nation,’’ said Mittal.

UN goodwill envoy Sanjay Dutt to meet Obamas (TOI,Mum,15Jan09,Pg13)

Cine star Sanjay Dutt has been appointed by Unesco as its goodwill ambassador against malnutrition that would present him a rare opportunity to rub shoulders with the US first family— Obamas—in New York in the first week of February.

For news in detail, visit The Times of India ePaper

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Price Waterhouse admits to goof-up in Satyam audit (ET,Mum,15Jan09,Pg1)
Says Its Audit Was Based On Wrong Data

Price Waterhouse has finally admitted that its audit report — which overlooked one of India’s largest corporate frauds — is wrong as it was based on wrong financial statements provided by the Satyam Computer Services management.

Blaming the company, however, doesn’t absolve Price Waterhouse — an audit arm of PricewaterhouseCoopers — from allegedly failing to detect the falsification of accounts as admitted by the disgraced Satyam chairman, according to a number of auditors ET spoke to.

Foreign brands queue up to enter India (ET,Mum,15Jan09,Pg1)

More than one-and-a-half years after foreign direct investment was allowed in single-brand retail, at least 37 foreign brands have entered India and over a dozen are seeking permission to set up shop.

Satyam’s loss could be TCS’ gain (ET,Mum,15Jan09,Pg18)

ONE company’s misfortune might well be another’s opportunity. It is widely believed that many scam-hit IT firm Satyam Computer’s clients will migrate to competitors such as Infosys, Tata Consultancy Services (TCS) and Wipro, over a period of time.

According to a recent Edelweiss Capital report, TCS is likely to garner maximum revenue from Satyam Computer’s pie as it has the highest client overlap with the latter. Infosys, it says, would perhaps gain less than Wipro, given its lower client overlap and greater selectivity.

For news in detail, visit The Economic Times ePaper

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IcySpicy

Preity Zinta: Looking like a million bucks! (BT,Mum,15Jan09,Pg38)

Preity Zinta is having the time of her life. The actress rang in the New Year with beau Ness Wadia in Canada. “Besides ringing in a romantic New Year, Preity and Ness also did some skiing there,” said a friend of Preity’s.

We hear, Preity has lost oodles of weight and is looking like a million bucks. “She has got herself a trainer recently. She has also begun to keep a watch on her diet. She’s looking absolutely stunning. Also, Preity is now looking to be part of films that she believes in,” adds her friend.

Well the fitness bug seems to have bit Bollywood’s original Miss Bubbly too!

For news in detail, do visit Bombay Times ePaper

Graffiti

Spare a thought for strays in Mumbai: Pamela Anderson (TOI,Mum,15Jan09,Pg2)

Mumbai: Former Baywatch star Pamela Anderson has now taken up the cause of rescuing the city’s strays.

In an emotional and no-words-minced letter to BMC (Bombay Municipal Corporation) commissioner Jairaj Phatak, Anderson has urged the authorities to promote a sterilisation programme for dogs instead of killing them.

“Will you please promote a sterilisation programme for stray animals? Dogs cannot use condoms but, with the municipality’s help, they can be fixed painlessly, quickly and permanently,’’ Anderson said in her letter.

Interestingly, the Peta activist is also planning to meet Phatak later this year to discuss the issue. “It will be Anderson’s first visit to India. She is coming here primarily to resolve the crisis. Her support for animals is more than welcome,’’ Peta-India chief functionary Anuradha Sawhney said.

In her concluding remarks to Phatak, Anderson stated, “I hope to hear from you soon and to meet with you during my visit to India to discuss it further.’’

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END OF THE DAY STATUS OF THE STOCK MARKET:

Sensex came down by 0.3 % today.

SENSEX: 9,046.7 (-0.3%) NIFTY: 2,736.7 (-0.3%)

DOWN..57.3 % from 21,26.77 the 52-week high of SENSEX

UP...........5.6 % 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.

Click here to display NSE CNX NIFTY Chart

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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Posted by NRI.NewsIndia at 1:28 AM

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