Friday, March 13, 2009









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Headline News

From

Emerging India

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Hand-picked News For Busy NRIs & PIOs
Issue No. 157 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:

  • Third Front returns to ‘hurt’ Cong
  • Real estate prices come crashing down
  • Is Sehwag now the world’s best batsman?
  • Satyam race set for a photo finish
  • NRI sues broker for fraud, seeks £30 million
  • IcySpicy: ‘It takes a braveheart to have a good heart’

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SEN SEX : 8,756.6 DOWN 58.7 % from 52-wk high

FOREX-Rs: USD 51.69 / EUR 66.68 / GBP 71.89

Please Note: Aug-Oct 2009 is expected to be a great period For Making Investments In India. Do Plan your investments in advance.

Do read Investment Advice for long-term investors, in this issue.

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Third Front returns to ‘hurt’ Cong (TOI,Mum,13Mar09,Pg1)

Tumkur (Karnataka): The project to prevent the Congress from heading the next non-BJP coalition at the Centre gathered momentum on Thursday with BSP boss Mayawati and AIADMK supremo Jayalalithaa banding together with other regional players as well as the Left to form a fresh version of the Third Front.

The inauguration, which came after several false starts and initial reservations from the Left, was attended by leaders of the Telugu Desam Party (TDP), the Telangana Rashtra Samiti (TRS), the Janhit Congress of former Haryana chief minister and Congress discard Bhajan Lal, and the JD(S) of former prime minister H D Deve Gowda, who played the host.

Is Sehwag now the world’s best batsman? (TOI,Mum,13Mar09,Pg1)

The reports that follow any substantial knock by Virender Sehwag are usually flooded with adjectives such as “explosive’’, “destructive’’ and “bludgeoning’’. But such praise hides an obvious truth that the cricket world finds difficult to acknowledge—that the Nawab of Najafgarh is a genius and, perhaps, the best batsman in the world today.

Sehwag is the only current batsman in international cricket with two Test triple tons. Both were scored at breathtaking speed against respectable attacks—Pakistan and South Africa. He is a more prolific “big’’ innings player than anybody else in world cricket. His last 11 hundreds have been 150-plus: 201 not out, 319, 151, 180, 254, 201, 173, 164, 155, 309, 195.

Not one of these was against Bangladesh or Zimbabwe. Barring one, each had a strike rate of 70-plus, amazing by Test standards. The 319 against South Africa in Chennai last year had come off just 304 balls. In terms of the strike rate, not even Sir Donald Bradman has bettered that.

SEHWAG TALLY IN LAST 4 ODIS (259 RUNS, 172 BALLS, 34 FOURS, 8 SIXES)

For news in detail, visit The Times of India ePaper

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R-ADAG buys UK co (ET,Mum,13Mar09,Pg1)

Reliance-ADAG is acquiring 51% stake in the UK-based currency exchange and money transfer firm No1 Currency. A person in the know said R-ADAG will shell out Rs 100 crore.

Satyam race set for a photo finish (ET,Mum,13Mar09,Pg1)
AT LEAST EIGHT SERIOUS BIDDERS IN FRAY

AT LEAST eight serious suitors have entered the bidding fray for the fraud-hit Satyam Computer Services, belying expectations that the companies interested in buying a scandal-ridden firm will be fewer in number.

Among those who enlisted for the bidding process include three multinationals, private equity funds and a line-up of tier-II Indian IT firms and one top-ranked major.

Three Indian firms — Tech Mahindra, L&T and Spice Corp — went public with their participation in the bidding process that kicked off on Thursday. The Satyam board is expected to go through the list of enlisted players on Friday morning.

“While there were numerous frivolous registrations, there are 8-9 fairly serious bidders who have registered themselves today (Thursday),” said a source close to the development.

It is learnt that there are MNC suitors, who have entered the fray through special purpose vehicle (SPV) structures in an apparent move to insulate themselves from future legal risks. The structure and exact nature of the SPVs are not clear at this stage.

The next stage in the bidding process is the submission of the expression of interest (EoI) along with proof of $300 million cash. This is supposed to happen by March 20. At this stage, the bidders will have access to a ‘broad set of numbers’, as they get ready to put in a price bid.

NRI sues broker for fraud, seeks £30 million (ET,Mum,13Mar09,Pg1)

IT should have been a dry legal battle, but it’s turning into a gory spectacle of the inner workings in the world of high finance, with all the elements of sleaze and scandal spilling into open court. The case of Rajesh Gill, an NRI derivatives trader, who is suing his former broker, now MF Global, for fraud and damages of up to £30 million, has caught the attention of even the tabloid press in the UK.

Real estate prices come crashing down (ET,Mum,13Mar09,Pg1)
Rates In Some Parts Drop By Half

Rajneesh Chhabra, a property broker based in south Delhi, says asking rates are down 30% from their peak, but it’s still almost impossible to find a buyer. With the financial year drawing to a close this month, cash-strapped real estate developers have already cut prices by an average 40% in all their upcoming projects.

“I expect prices will soon come back to the 2003-04 levels, when rates were hovering between Rs 12,000 and Rs 17,000 in upmarket areas like Malabar Hill,” says Mumbai Estate Agents Association president Yashwant Dalal.

In India’s technology capital Bangalore, prices have fallen by up to 25% in some areas, a recent Morgan Stanley report says. DLF, India’s biggest real estate company, cut rates by about 30% at its upcoming project and the company sees prices falling further.

However, in the upmarket areas of Chennai there have been no considerable price drops.

JLR’s green car to get £27-m UK aid (ET,Mum,13Mar09,Pg5)

LONDON: Tatas-owned Jaguar Land Rover (JLR) will be getting about £27 million from the UK government for production of a new greener car model. This is separate from the £2.3 billion auto assistance programme.

For news in detail, visit The Economic Times ePaper

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IcySpicy

‘It takes a braveheart to have a good heart’ (BT,Mum,13Mar09,Pg1)
Dr Ramakanta Panda announces Akshay Kumar as ‘Good Heart Ambassador’ for new city heart helpline

In choosing Akshay Kumar as the Asian Heart Helpline’s Good Heart Ambassador, Dr Ramakanta Panda, VC and MD and chief of cardiology at the Asian Heart Institute, could not have done better. (Dr Panda is one of the top heart specialists in India. He was the one who performed the complex heart surgery of our PM Dr. Manmohan Singh, a few weeks ago.)

Dr Panda’s choice shows that his own heart is in the right place.

Check out what the heartline offers: a 24 x 7 guidance for heart-related queries by senior cardiologists over the phone — just dial 126126 from any phone; ambulance services including an air ambulance if required; spot loans of upto Rs 50,000 for people coming to the Asian Heart Institute in emergencies and without funds. And that’s just a start.

When Akshay was asked to inaugurate the helpline, Bollywood’s action king and daredevil showed all heart in readily agreeing. “He turned up before everybody and I am proud to announce him as the Good Heart Ambassador,” said Dr Panda.

Choosing Akshay for the role was easy. “I first thought he was a braveheart, but I was wrong,” said Dr Panda, “Akshay is not just brave at heart, but he has a great heart and this is reflected in his commitment to combat heart disease alongside us.”

Dr Panda is hugely impressed with the condition of the action star’s heart, as well. “I don’t think there is any one fitter than Akshay in Bollywood. He is 42, but has a heart of a 24-year-old. His cardiovascular fitness is right up there. I chose him as the Good Heart Ambassador because, unlike some other Bollywood celebs who resort to artificial means to build their physiques, Akshay is a complete natural. He is a role model for all citizens and especially the younger generation, as his body is not made of any steroids or artificial supplements.”

Dr Akil Khan, Business Development Consultant and Project Head for the Asian Heart Helpline 126126, added, “Akshay is a man with a heart of gold. It was he who volunteered to help us make 126126 a number with every household in our vision of ‘Beating Heart Disease’ in Mumbai.”

While Akshay Kumar himself said, “I want everybody in Mumbai to know this number 126126 by heart.”

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 5.0 % today.

SEN SEX : 8,756.6 (+5.0%) NIFTY: 2,719.3 (+3.9%)

DOWN..58.7 % from 21,206.77 the 52-week high of SENSEX

UP...........13.8 % 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 6000-7000 level in the next few months. We expect Aug-Oct 09 period to be a very good period for making investments in good stocks / mutual funds in India. So, do plan your investments in advance.

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 Aug-Oct 2009 is expected to be a great period for investing your money in stocks & mutual funds 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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