From
Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 141 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Investors lose Rs 1 trillion on Budget day
- Airlines slash overseas fares by up to 50%
- US army beckons Indians
- H-1B restrictions temporary
- Satyam board to take final call on buyer
- ‘I’VE FACED FOUR GENERATIONS OF BOWLERS’
- IcySpicy: ‘Veggies make me look sexy’ - Kareena Kapoor
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SENSEX: 9,305.5 DOWN 56.1 % from 52-wk high
FOREX-Rs: USD 48.66 / EUR 62.0188 / GBP 69.18
2009 - Is A Great Year For Investments In India
Do read Investment Advice for long-term investors in this issue.
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Investors lose Rs 1 trillion on Budget day
Investors lost close to Rs one lakh crore on Monday as the market gave a thumbs-down to the interim Budget FY'2009-10, which failed to provide any sops for key sectors.
After two weeks of pre-budget rally, the benchmark index Sensex nosedived over 300 points to 9,305.45 points, with metals and realty stocks witnessing huge sell-offs.
Combined market capitalisation of all listed companies plunged to Rs 29,79,509.44 crore at the end of trading on Monday from Rs 30,71,114.61 crore on Friday last week, losing over Rs 91,000 crore.
Analysts believe that the market would continue on its downward spiral from here as the interim budget dashed investors' hopes, which triggered a major sell off on the two bourses.
Airlines slash overseas fares by up to 50%
After the farcical flip-flop in domestic air fares, airlines are now coming up with promotional fares, which involve a discount of 30-50%, for international flights originating from India.
Jet Airways, the country’s largest airline, has cut international fares by 30%. For the Singapore and Hong Kong routes, Jet has introduced special fares that will be valid till February end. These fares will entail a 30% discount on base return economy class and premier fares.
Foreign airlines, too, have unveiled offers. The UK-based British Airways has reduced fares by 50% for flights to London from both Mumbai and Delhi. A passenger can get a British Airways ticket either from Mumbai or Delhi to London for just Rs 9,900 including taxes, 50% less compared with normal fares.
http://economictimes.indiatimes.com/Now_fly_to_London_for_just_Rs_9900/articleshow/4133651.cms
US army beckons Indians (TOI,Mum,16Feb09,Pg1)
Highlyskilled immigrants who know Hindi and Tamil and have stayed in America for two years can now become US citizens in six months by enrolling in the army. Meanwhile, 20 regional Indian languages, including Gujarati, Marathi and Kannada, figure on an application form for US government jobs.
For news in detail, visit The Times of India ePaper
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Satyam board to take final call on buyer (ET,Mum,16Feb09,Pg1)
The Satyam board will have the leeway to decide the final buyer as long as it meets the minimum bid price, according to people with knowledge of the development. The highest bidder will, therefore, not have the first right to buy Satyam, reports Nandini Sen Gupta in New Delhi.
The sale process will include fresh infusion of funds through a preferential allotment to the buyer followed by an open offer. The preferential allotment could give the buyer as much as 15-20% stake in Satyam. The bidding methodology will ensure that L&T, which holds a 12% stake in Satyam, does not enjoy an undue advantage.
H-1B restrictions temporary: US (ET,Mum,16Feb09,Pg3)
The US on Sunday said there should be no cause for concern over the US Congress decision barring firms receiving bailout money from hiring foreigners through H-1B visas, bulk of which is accounted for by Indian professionals, saying it is a ‘temporary political thing’.
“I think that’s a temporary political thing...H-1B visas will remain intact and they will continue to be heavily used,” US Ambassador to India David Mulford said when asked to comment on the Congress rider to the stimulus package.
For news in detail, visit The Economic Times ePaper
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IcySpicy
‘I’VE FACED FOUR GENERATIONS OF BOWLERS’ (BT,Mum,16Feb09,Pg1)
Master Blaster Sachin Tendulkar on success, failure and everything in between...
If cricket is a religion in India, then Sachin Tendulkar is God. The Master Blaster might laugh that statement off, but then he is known to be unassuming and down-to-earth. That, despite being a legend in the game.
“People see one guy playing, Sachin Tendulkar, but they don’t know the support system that goes behind that,” says Tendulkar, not forgetting to mention the contribution of his parents, his brother, his wife Anjali, his coach and his teammates.
Obstacles he faced, and overcame, just as he faces and conquers those spins, fast balls and googlies. Nineteen years of cricket, more than 25,000 runs to his name and awards and record-breaking moments galore, but Sachin Tendulkar is still raring to go.
‘Veggies make me look sexy’
...says Kareena Kapoor who, with S Sreesanth, is rated Sexiest Vegetarian in India
You might not want to share a meal with them coz they’re vegetarians... but, guess what, vegetarians can be sexy as well. And topping a poll conducted by a worldwide animal activist organisation is Bollywood’s Kareena Kapoor and Team India’s S Sreesanth.
Both hotties in their own fields... she for bowling men over, he for bowling maiden overs! The two edged out the likes of 2007 winner and Southie star R Madhavan, model-actor Aditi Gowitrikar, musician Vishal Dadlani and singer Kailash Kher. Sree also edged out fellow cricketer Ishant Sharma and Anil Kumble.
For Kareena, meanwhile, this is just another award in a fistful collected already this year — including Youth Icon and Woman Achiever. “I’m really thrilled and excited to top this poll. I live on vegetables, they help me look sexy, glamorous and healthy.”
Some of the other contenders this year were Olympic bronze medallist Sushil Kumar, actors Mallika Sherawat, Mahima Chaudhary, Rajneesh Duggal, designers Anita Dongre and Hemant Trevedi.
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 3.4 % today.
SENSEX: 9,305.5 (-3.4%) NIFTY: 2,848.5 (-3.4%)
DOWN..56.1 % from 21,206.77 the 52-week high of SENSEX
UP...........20.9 % 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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