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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 146 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- DLF reduces rates in south by 20-30%
- Slumdog star Freida Pinto in Woody Allen’s next movie
- British teens admit to killing Indian
- TCS may extend working hours
- HCL Tech lays off 450 staffers
- IcySpicy: Kylie Minogue to shoot with Akshay Kumar
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SENSEX: 8,902.6 DOWN 58.0 % from 52-wk high
FOREX-Rs: USD 49.82 / EUR 63.94 / GBP 72.38
2009 - Is A Great Year For Investments In India
Do read Investment Advice for long-term investors in this issue.
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TCS may extend working hours
Come April, and TCSers may have to put in more working hours as compared to the current 40-hour, five-day week cycle.
According a report in a business daily, Tata Consultancy Services (TCS) is planning to increase its working hours by 10% to 15%.According to analysts, a 10% increase in working hours can add half-a-million billable hours for TCS alone, considering that over 55% of the company's contracts are the Time & Material type.
http://infotech.indiatimes.com/News/TCS_may_extend_working_hours/articleshow/4188174.cms
Govt sensitising US authorities on H-IB visa issue
In the wake of US putting restrictions on American companies hiring H-IB visa workers, the Government today said it is constantly endeavouring to sensitise authorities there that any protectionist policy would hurt the interests of their companies.
British teens admit to killing Indian (TOI,Mum,25Feb09,Pg1)
Three British teenagers have pleaded guilty to killing a Goan sailor in a racially motivated attack on a ship in the UK in October 2007.
Freida Pinto in Woody Allen’s next movie (TOI,Mum,25Feb09,Pg22)
Indian actress Freida Pinto is going places post her successful debut in multiple Oscar- winning film Slumdog Millionaire.
The model-turned actress has landed a role in legendary filmmaker Woody Allen’s next film. “Yes, it’s up (begins) in July. So, thank you, Danny Boyle, for helping me take off,” Pinto told US morning news programme on Tuesday.
For news in detail, visit The Times of India ePaper
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DLF reduces rates in south, others likely to follow suit (ET,Mum,25Feb09,Pg12)
Chennai, B’lore Projects Get Cheaper; Old Customers To Benefit Too
COUNTRY’S largest real estate developer DLF has cut its prices in its on-going projects in Chennai and Bangalore by 20-30%, and has extended this benefit also to those customers who had earlier bought homes in these projects.
DLF may also bring down prices of its projects in other cities as well, a company official said.
DLF has revised it prices downward by 17% to Rs 2,650/sqft in its Gardencity DLF OMR project in Chennai, comprising 3,500 apartments, of which 2,000 have already been sold.
The company has slashed prices by 32% to Rs 1,850/sqft in Bangalore’s Bannerghatta Road. The Bangalore project has a total of around 2,000 apartments.
The company also recently launched a housing project in Hyderabad at Rs 1,850/sqft, which is substantially lower than the market price.
Future, Hidesign close to signing JV (ET,Mum,25Feb09,Pg22)
RETAIL major Future group is close to inking a 50:50 joint venture deal with the promoters of luxury leather goods maker Hidesign, a group that supplies to most top retail chains in the US and Europe. The JV, which will be signed between Future Ventures — the venture capital arm of Future group — and Hidesign will launch an India-oriented lifestyle brand, Holii, said top officials.
The product will be priced 30-40% lower than Hidesign, which is one of the few internationally well-known brands of Indian origin.
HCL Tech lays off 450 staffers (ET,Mum,25Feb09,Pg6)
IT SERVICES company HCL Technologies has asked 450 employees at its Delhi and Bangalore offices to leave. A majority of those axed were on the bench. An HCL Technologies official, who spoke to ET on the condition of anonymity, said that the company had sacked 400 people in Delhi and another 50 in Bangalore in the last one-two months.
As of December 31, 2008, HCL had about 52,957 employees.
For news in detail, visit The Economic Times ePaper
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IcySpicy
Kylie Minogue reaching Mumbai tonight (BT,Mum,25Feb09,Pg1)
The international pop star is here to shoot with Akshay Kumar
Now the truth can be told. Kylie Minogue, the Australian pop singer-songwriter and occasional actress, OBE, poster girl and what not, is not some months away from coming to Mumbai as was reported yesterday... she is landing in Mumbai tonight! Yes, and over the next eight days, Kylie will be in our city working on Ashtavinayak Films’ Blue which stars Akshay Kumar, Sanjay Dutt, Katrina Kaif, Lara Dutta and Zayed Khan and which has music scored by Oscar winner A R Rahman.
Kylie has already recorded two songs for the film, one a solo for the promotional video of Blue and the other a duet with Bollywood’s lead singer Sonu Nigam.
The story goes that the international pop music artist who has sold in excess of 60 million records and has achieved her greatest successes in Australia, Europe, Asia and Latin America, was approached and given the music tracks scored by Rahman to hear. She liked them and agreed to sing for the film, but in her London music studio.
Her solo number is reportedly a racy and peppy song that has an international beat to it. The duet was done between Mumbai and London, with Sonu recording here and his tracks being sent to London for Kylie to sing along with. The music notwithstanding, Blue which will release in August appears to be the costliest Bollywood film ever made with its budget touching Rs 110 crore already.
In Mumbai, Kylie who is well-known for her elaborate music videos and expensively mounted stage shows, is slated to shoot the duet with superstar Akshay Kumar to Farah Khan’s choreography.
Talking to BT about Kylie’s visit, Akshay said yesterday, “I actually and truly believe Slumdog Millionaire has opened many doors for not only India, but for our own film industry. Only weeks ago Kylie was on stage honouring our beloved A R Rahman at the BAFTA Awards, now she’s performing a song composed by the very same man. I think she must feel as honoured and excited about working together with him as I am. And I’ve heard Kylie moves as sweet as she sings, so it’s back to the rehearsal room for me!”
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex wemt up by 0.9 % today.
SENSEX: 8,902.6 (+0.9%) NIFTY: 2,762.5 (+1.1%)
DOWN..58.0 % from 21,206.77 the 52-week high of SENSEX
UP...........15.7 % 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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