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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 149 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Mukesh plans RIL-RPL merger
- GDP grows at 6-yr low of 5.3%
- MARRIAGE IN MID-AIR
- 50 Indians stranded in KL
- L&T names Citi as i-banker for Satyam deal
- IcySpicy: Who’s Priyanka copying?
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SEN SEX: 8,891.6 DOWN 58.1 % from 52-wk high
FOREX-Rs: USD 50.67 / EUR 64.53 / GBP 72.36
Please Note: 2009 Is A Great Year For Making Investments In India
Do read Investment Advice for long-term investors in this issue.
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Mukesh plans RIL-RPL merger (TOI,Mum,28Feb09,Pg1)
The Mukesh Ambani controlled Reliance Industries Ltd, India’s largest private sector company, told bourses on Friday that it would take up a proposal on Monday to merge with itself the export-only refining arm, Reliance Petroleum Ltd, in which US energy major Chevron holds a 5% stake.
The boards of the two companies will meet separately to clear the proposal and decide the share-swap ratio on Monday.
The amalgamation is expected to see the parent Reliance acquiring Chevron’s 5% equity in the subsidiary and creating a single-location refining behemoth with a capacity to process 61 million tonnes of crude a year at stated plant ratings.
The parent Reliance’s old refinery in Jamnagar has a capacity of 33 million tonnes, while the subsidiary RPL’s new export refinery in the adjacent special economic zone, which went on stream recently, has a capacity of 28 million tonnes.
The amalgamated entity will make Reliance the world’s 10th biggest nonstate refiner and place it among the top ten integrated oil companies globally.
The merger will also rank it as the world’s fifth-biggest producer of propylene, used in making plastics.
GDP grows at 6-yr low of 5.3% (TOI,Mum,28Feb09,Pg1)
Q3 Figure Hit By Poor Show In Agriculture, Mfg
The Indian economy is now officially estimated to have grown at 5.3% in the October-December 2008 quarter over the corresponding months of 2007, making it the lowest year-on-year growth for any quarter since January-March 2003.
The lower-than-expected growth in the third quarter (Q3) of 2008-09 makes it extremely unlikely that the 7.1% growth projected for the full financial year earlier this month will be met. It’s also likely to add to pressure on the Reserve Bank of India to take some monetary measures to boost growth for the rest of the year.
50 Indians stranded in KL (TOI,Mum,28Feb09,Pg24)
Over 50 workers from India are stranded in Kuala Lumpur, with 43 of them being detained for overstaying, after their agent cheated them. They were also prevented from lodging a complaint with the Indian mission.
MARRIAGE IN MID-AIR (TOI,Mum,28Feb09,Pg13)
A couple got married in a hot air balloon at a height of 100 metres in Lucknow on Thursday.
The wedding, the first such in UP, cost the newly-wed about Rs 80,000.
Apart from the pilot, the balloon’s basket carried three people: the bride, the groom and the priest who doubled as the cameraman.
For news in detail, visit The Times of India ePaper
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L&T names Citi as i-banker for Satyam deal (ET,Mum,28Feb09,Pg1)
Larsen & Toubro is understood to have named Citigroup as the investment banker for a possible Satyam bid, a banking official said. Although the Satyam board is yet to invite formal bids, the infrastructure giant is all set to throw its hat in the ring.
For news in detail, visit The Economic Times ePaper
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IcySpicy
Who’s Priyanka copying? (BT,Mum,28Feb09,Pg44)
When we bumped into Priyanka Chopra recently, we notice her flashy red nail polish, and heavy eye makeup!
She looked sexy alright, but her leather jacket and pants ensemble looked so familiar! Well, of course, It was an exact imitation a jacket that Beyonce’s had worn… And she thought we couldn’t tell, huh?
Looks like this Bollywood babe doesn’t mind taking inspiration from the Hollywood hotties.
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 0.7 % today.
SEN SEX: 8,891.6 (-0.7%) NIFTY: 2,763.7 (-0.8%)
DOWN..58.1 % from 21,206.77 the 52-week high of SENSEX
UP...........15.5 % 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.
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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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