Headline News
From
Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 160 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- The pot of gold is right round the corner for Nano
- Nifty crosses 3000 at open; RIL, HDFC Bank lead
- Telecom is buzzing with expats
- Satyam board shortlists 8 cos
- Spice may pull out of Satyam race
- IcySpicy: Ash-frenzy hits Kolkata
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SEN SEX : 10,003.1 DOWN 52.8 % from 52-wk high
FOREX-Rs: USD 50.57 / EUR 68.70 / GBP 73.84
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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Nifty crosses 3000 at open; RIL, HDFC Bank lead
Equities opened sharply higher Thursday in line with Asian peers. Secondline stocks also participated in the upmove. Massive gains in Reliance Industries and HDFC Bank helped indices gain further strength.
Bombay Stock Exchange’s Sensex climbed 97.25 points or 1.01 points to 9765.93. National Stock Exchange’s Nifty rose 0.92 per cent or 29.15 points to 3013.50.
http://economictimes.indiatimes.com/Nifty-crosses-3000-RIL-HDFC-Bank-lead/articleshow/4317293.cms
Spice may pull out of Satyam race (TOI,Mum,26Mar09,Pg19)
Promoter B K Modi Alleges Bidding Process For IT Co Lacks Transparency
The list of suitors for scam-hit Satyam seems to be getting thinner even before the start of bidding, raising apprehensions that it may not be a keenly-fought affair.
After withdrawal of the Hinduja group and Phaneesh Murthy’s iGate, it is now the turn of B K Modi’s Spice group, which has threatened to pull out of race, blaming lack of “openness and transparency’’ in the process.
Analysts said many of the companies who initially expressed interests in Satyam are developing cold feet as things are uncertain, regarding liabilities from the dozen odd class-action lawsuits in US, following the scam.
For news in detail, visit The Times of India ePaper
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Satyam board shortlists 8 cos for next stage of bidding (ET,Mum,26Mar09,Pg5)
ABOUTseven to eight firms, including global private equity firm Apax Partners, engineering firm L&T, Tech Mahindra, the Spice Group and IBM Global Services, have qualified as potential suitors for the beleaguered Satyam Computer Services.
The government-appointed board of the IT firm has shortlisted these firms, besides one more private equity firm and a multinational company, for the next stage of bidding that involves putting a price tag for the company. These firms will do their due diligence over the next two days, said a person familiar with the development.
Buyout firm Apax Partners is invested in Chennai-based Apollo Hospitals. It was also in the race for Patni Computers. IBM Global Services, one of the world’s largest IT services firms, has registered its interest through a law firm representing it. The entry of IBM could give serious competition to L&T, so far perceived as the strongest and most serious contender.
Nano may drive in profits soon for Tata Motors
The pot of gold is right round the corner for Nano. With commodity prices and excise duty dipping, and tax benefits stacked up in its favour, the road to profitability looks a lot closer than when it did when Tata Motors conceived the project in 2002-2003.
Nano has hit the market at the right time — commodity prices have fallen 30-40% since August last year, when they had peaked. The excise duty on smaller cars too has come down to 8% from 12% over two years.
Tata Motors was banking on profitability two years from now, but MD Ravi Kant says the car will ring in profits from the word go.
The 10-year excise holiday in Uttarakhand will also help Tata Motors considerably, a top Tata executive said.
The first 50,000 cars will roll out of its Pantnagar plant. Declining steel and metal prices too could lead to lower input costs on future supply contracts for Nano.
Tata Motors is expected to raise huge amounts from Nano bookings — the company expects 5 lakh orders, which will generate a corpus of Rs 5,000 crore.Further, the booking will fetch the company an interest-free deposit of Rs 95,000 (the amount for the base model) and Rs 1.4 lakh (booking for the top-end variant).
Besides, it will also gain a Modvat benefit, which means the company will not have to pay tax on auto components as the supplier would already have done so.
TELECOM’S BUZZING WITH EXPATS
THE global slowdown may be forcing Indian companies to freeze hiring and send back expat executives, but the telecom sector, which is adding 13-15 million users every month, has kept its headhunters in the roaming mode.
Among the latest is Marten Pieters, who leaves Africa’s secondlargest mobile operator Celtel, to take over Asim Ghosh’s mantle at Vodafone Essar. At least three more companies — Shyam Telelink-Sistema, Unitech Wireless-Telenor and Swan Telecom-Etisalat — will soon have foreign nationals heading them.
Vodafone Essar already has 10 expats in top positions, including its CFO and COO. The country’s largest telco Bharti Airtel recently poached T-Mobile’s CTO Joachim Horn to help expand its global footprint and interface with strategic partners.
Bharti’s enterprise services division, which accounts for about 20% of its revenues, is headed by American David Nishball, the former head of France Telecom’s Asia Pacific operations.
For news in detail, visit The Economic Times ePaper
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IcySpicy
Ash-frenzy hits Kolkata (BT,Mum,26Mar09,Pg30)
Shooting in Kolkata for Mani Ratnam’s Ravana was one experience Aishwarya Bachchan won’t forget for a long time to come.
After all, with the kind of fan-frenzy the actress witnessed in the city it’s easy to imagine why. Not only did the fans line up the lane leading from her cottage to the shooting site as early as five in the morning, but also followed her to the ghat where the actress was shooting.
For a sequence Aishwarya had to shoot in a boat and the entire ghat was filled with onlookers.
A source reveals, “Several of them even tried to swim towards the boat to get a closer glimpse of Aishwarya. When she was shooting alone a few fans kept shouting ‘I love you’ to her. However, interestingly the ‘I love yous’ changed to ‘Bodhi’ (sister-in-law in Bengali) as did the tones as soon as hubby Abhishek came on the sets. This amused Mani Ratnam too.” Looks like Ash’s quite the flavour of the city this season!
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex went up by 3.5 % today.
SEN SEX : 10,003.1 (+3.5%) NIFTY: 3,082.3 (+3.3%)
DOWN..52.8 % from 21,206.77 the 52-week high of SENSEX
UP...........30.0 % 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 and/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.
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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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