From
Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 134 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Mumbai airport on alert
- India's per capita income doubled in last 7 years
- India & China to shore up world growth
- Saji linked to int’l drug mafia
- Subhiksha may shut half its stores
- HCL Tech bags deals worth $1 b in Q3
- Air Arabia plans direct flights from Sharjah to Goa
- IcySpicy: Queue for Madhuri
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SENSEX: 9,424.2 DOWN 55.6 % from 52-wk high
FOREX-Rs: USD 49.02 / EUR 63.18 / GBP 69.70
2009 - A Great Year For Investments In India
Do read Investment Advice for long-term investors in this issue.
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India's per capita income doubled in last 7 years
The average Indian's income in 2007-08 has nearly doubled since the turn of the millennium and even adjusting for inflation, it has risen over 50% in this period, official figures released on Friday revealed.
The quick estimates of per capita income for 2007-08, put out by the Central Statistical Organisation (CSO), peg per capita income for that year at Rs 33,283 in current prices.
In 2000-01, the per capita income was only Rs 16,688 or roughly half of the 2007-08 figure.
In inflation-adjusted or real terms, the growth in incomes has been much more modest, but by no means insignificant. In terms of constant (1999-2000) prices, the per capita income was Rs 16,173 in 2000-01 and rose to Rs 24,295 by 2007-08. That's a rise of just a little more than 50% over a seven-year period.
India & China to shore up world growth (TOI,Mum,01Jan09,Pg1)
0.5% In ’09 Slowest Since 1940: IMF
China and India—the only sizeable economies likely to record growth rates of over 5%—will prevent the world from recording negative growth in 2009, said the International Monetary Fund (IMF) on Wednesday. Even so, at 0.5%, the world economy will register its slowest growth rate since the Second World War.
The IMF’s update to its World Economic Outlook is a sharp downward revision from the 2.2% growth in global output it had projected as recently as November last year. It now estimates the Chinese economy will grow at 6.7% rather than the 8.5% anticipated in November, while the forecast for India has been pared from 6.3% to 5.1%.
For 2010, the Fund foresees an impressive global recovery to 3% growth, with China’s 8% and India’s 6.5% once again leading the way. While the US will bounce back to grow by 1.6%, the Euro area and the UK will grow by 0.2%, and Japan by a somewhat better 0.6%.
Saji linked to int’l drug mafia: ATS (TOI,Mum,01Jan09,Pg1)
Chandigarh NCB Official Likely To Be Held
The ATS, which is investigating the drug trafficking case involving IPS officer Saji Mohan, has claimed to have found certain information linking him to an international drug mafia.
For news in detail, visit The Times of India ePaper
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Mumbai airport on alert (ET,Mum,01Jan09,Pg1)
A fresh alert has been sounded at the Mumbai airport in the wake of latest inputs of a terror plot to carry out a 9/11 type strike. An MHA advisory sent to the state directed the authorities to keep a watch on all private aircraft, besides sanitising the parking bays of all small aircraft and helicopters.
Subhiksha may shut half its stores (ET,Mum,01Jan09,Pg1)
NEIGHBOURHOOD retailer Subhiksha is closing a significant number of its 1,600 stores across the country to cope with a cash crunch that has held up store rent and salary cheques, but says it would survive the crisis.
The exact number of stores being closed couldn’t be ascertained. People with access to the top management said it could be as much as half. Subhiksha confirms that 8-10% of its stores may be closed.
The 11-year old retailer, promoted by Chennai-based R Subramaniam and partly-owned by software major Wipro’s promoter Azim Premji, acknowledges that it is currently battling for survival.
HCL Tech bags deals worth $1 b in Q3 (ET,Mum,01Jan09,Pg11)
FOR HCL Technologies, the December 2008 quarter has proved to be the best in terms of deals it has signed.
The company said it won deals worth $1 billion during the three-month period, nearly double its average quarterly revenue. It is also transitioning contracts from other vendors for free, according to analysts who attended its quarterly earnings call presentation.
HCL wins Nokia’s desktop maintenance contract (ET,Mum,01Jan09,Pg11)
Nokia has outsourced its desktop maintenance and support in 76 countries to HCL Technologies in a multi-million dollar contract spread over five years and starting this April.
The deal also involves transfer of employees from Nokia. The contract will be serviced from India, China, Poland, Finland and US.
Air Arabia plans direct flights from Sharjah to Goa (ET,Mum,01Jan09,Pg22)
Air Arabia, the largest low cost carrier in the Middle-East and North African region, said it plans to operate direct flights from its hub in Sharjah to Goa starting March, 2008.
“We are also exploring the possibility of adding two more destinations from India by the end of this year,” A K Nizar, head of commercial department, Air Arabia said.
For news in detail, visit The Economic Times ePaper
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IcySpicy
Madhuri has ‘loo’ meetings? (BT,Mum,01Jan09,Pg42)
Well, ZOOM’s lavish Mumbai premiere of Danny Boyle’s Oscar nominee was indeed a million dollar opportunity for our photogs.
Madhuri Dixit looking resplendent as ever caught everyone’s attention. In fact, when Mads went to use the restroom, there was a huge queue of producers, etc, waiting outside to get a glimpse of her. Mads in Mumbai — is a rare photo-op, na?
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex went up by 2.0 % today.
SENSEX: 9,424.2 (+2.0%) NIFTY: 2,874.8 (+1.8%)
DOWN..55.6 % from 21,206.77 the 52-week high of SENSEX
UP...........22.4 % from 7,697.39 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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