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From
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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 119 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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THIS ISSUE IS AT A PRICE,
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Headline News in this issue:
- Indian-American to be US surgeon general?
- Satyam: A Rs 7,000 Cr Lie – The biggest fraud in India’s corp history
- Satyam may axe 10,000 employees
- PWC-Ind’s fate hangs in balance
- L&T stocks up
- IcySpicy: A YEAR OF BODIES, BABESAND BIKINIS !
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SENSEX: 9,586.9 DOWN 54.8 % from 52-wk high
FOREX-Rs: USD 48.50 / EUR 65.52 / GBP 72.31
Do read Investment Advice for long-term investors in this issue.
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NRI.NewsIndia
Keeps me updated on India
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Satyam may axe 10,000 employees: Report
With a big questions mark on its cash position and a minimum outgo on salary estimated at Rs 500 crore a month, Satyam may lay off over 10,000 employees next month, says a recruitment firm.
http://timesofindia.indiatimes.com/Satyam_may_axe_10000_employees_Report/articleshow/3953256.cms
Satyam: A Rs 7,000 Cr Lie (TOI,Mum,08Jan09,Pg1)
The real truth is that Ramalinga Raju, the politically connected promoter-chairman of Hyderabad headquartered Satyam Computers, was lying for years to shareholders, employees and the world at large, building up to India’s largest-ever corporate fraud of over Rs 7,000 crore.
Indian-American to be US surgeon general? (TOI,Mum,08Jan09,Pg1)
Washington: This is one senior US administration post that has had “Indian’’ written on it for many years—probably because of the number of physicians India has exported to America.
But it needed Barack Obama to fulfil the decades-long expectation. In a rich and symbolic recognition of India’s sterling contribution to the US healthcare system, the US President-elect has asked Dr Sanjay Gupta, CNN’s well-known medical correspondent and a neurosurgeon of repute, to be the country’s surgeon general.
For news in detail, visit The Times of India ePaper
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SATYAM A BIG LIE (ET,Mum,08Jan09,Pg1)
THE BIGGEST FRAUD IN INDIA’S CORPORATE HISTORY
Satyam, the fourth-largest software service provider, imploded on Wednesday, sending its stock crashing by 80%. In a 5-page letter, detailing years of financial deception, Satyam chief Ramalinga Raju owned up responsibility and put in his papers. The shame and scandal has stunned India Inc, and left lakhs of investors and 53,000 staffers out in the cold.
L&T STOCKS UP
The L&T Group is believed to have extended its purchases of Satyam shares from the secondary market on Wednesday. The engineering major is reported to have hiked its stake in the tainted software entity to 3.5-4% on Wednesday, from 2% last week.
REALTY DID RAJU IN?
An audacious real estate play may have cost Raju dear. One theory doing the rounds suggests the Raju family was trapped by a murky cocktail of politics and a real estate crash.
PWC’s FATE HANGS IN BALANCE
ENRON & Worldcom had changed the world of auditing from ‘Big 5’ to ‘Big 4’. The brazen fraud at Satyam has the potential to shrink it to ‘Big 3’, at least in India. The falsification of accounts by Satyam for the past several years has put a question mark on the very survival of its auditor, Pricewaterhouse-Coopers (PwC).
PwC had audited about 139 companies in India in the last fiscal. A few of them are already reviewing their relationship. For instance, Glenmark Pharma has said its board would decide on January 27 on whether to propose a change in the auditor.
For news in detail, visit The Economic Times ePaper
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IcySpicy
A YEAR OF BODIES, BABESAND BIKINIS (BT,Mum,08Jan09,Pg1)
ZOOM unveils India’s Top 10 Hottest Women for 2008!
Hold your breath. Throw out those winter woolies and prepare for global warming. This is a ZOOM Red Hot Alert!
Finally, the greatest annual countdown for Bollywood bombshells and hunks is here. The barometer to beat all barometers. The ZOOM — 50 Most Desirable annual countdown. Brought to you by ZOOM’s landmark show — The Red Hot Countdown.
This first part will deal with the 50 hottest women — a countdown that has been running the past several weeks. And now the count is down to the final 10. So who will top the perfect 10 list?
After all, it has been a year of bodies, babes and bikinis for Bollywood. Never have our Bollywood beauties looked more desirable. And in better shape. From skimpy skirts to sexy swimwear. Priyanka’s sun-soaked ‘golden’ diva look to Kareena’s two-piece, size zero effect — 2008 has stunningly showcased Bollywood’s most sexy avatar.
Thanks to the thousands of online and SMS voters, and with a distinguished panel of experts, Zoom will be declaring the winner of the Red Hot Most Desirable poll of 2008.
Hotties like Kareena Kapoor and Bipasha Basu have topped this poll in the last couple of years and newcomers like Katrina have stormed the turnstiles; now the new breed of babes, repackaged and remodelled in their ultra glamourous and fashionably bold styles (with their hemlines rolling up and the neck-lines plunging all the way), have made the competition only tougher. And hotter, of course.
Other than the obvious choices like Bipasha, Kareena, Priyanka, Aishwarya, newer sex-symbols like Katrina Kaif and Deepika Padukone have joined this elite Top 10 nominee list of Bollywood’s sex-o-meter.
Surprise, surprise… southern belle Asin has made it to this list, too, joined by Shilpa Shetty, Mallika Sherawat and Lara Dutta.
Like Kareena once said “May the best girl win!” And like Katrina recently told us, “It’s the love of the people that makes winners and losers. And one year’s winner may be next year’s loser. So no one should feel bad at losing or feel arrogant at winning. It’s what the audiences have decided.”
So, the girls can slip into their ‘hautest’ dress, don their sexiest avatars and get ready to take a bow.
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 7.3 % today. This fall can be attributed to the shocking news of major financial wrong-doings in Satyam Computers.
SENSEX: 9,586.9 (-7.3%) NIFTY: 2,920.4 (-6.2%)
DOWN..54.8 % from 21,26.77 the 52-week high of SENSEX
UP...........11.9 % 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 the Sensex to go up to some extent from the current level in the next couple of weeks. However, we expect it to come down to 7000-8000 level in the next few months.
Some of you may like to book profit or exit some stocks in the next couple of weeks as the market is expected to fall substantially in a few months.
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 by investing when prices are low and divesting when prices are high. 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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