Monday, March 9, 2009












Headline News

From

Emerging India

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Hand-picked News For Busy NRIs & PIOs
Issue No. 154 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:

  • 3 CHEERS FOR INDIA (WIN WIN WIN)
  • Sachin Tendulkar scored 163 in ODI against NZ
  • Twenty-first century belongs to India, says Mukesh Ambani
  • Outsourcing to India won’t stop: Moody’s
  • BSNL to hike 3G telephone lines 8-fold
  • London retains top slot as global financial centre, Mumbai at 49
  • IcySpicy: HONG KONG CALLING DEEPIKA

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SEN SEX : 8,160.4 DOWN 61.5 % from 52-wk high

FOREX-Rs: USD 51.73 / EUR 65.48 / GBP 73.03

Please Note: 2nd half of 2009 is going to be great For Making Investments In India

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

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3 CHEERS FOR INDIA (TOI,Mum,09Mar09,Pg1)

It was a ‘triple Sunday’ for Indian sport. While India beat New Zealand by 58 runs to take a 2-0 lead in the ODI series, golfer Jyoti Randhawa cruised to a win at the Thailand Open for his eighth Asian Tour victory.

In tennis, Somdev Devvarman, ranked world No 150, trounced No 59 Lu Yen-Hsun to script India’s 3-2 win over Chinese Taipei in a Davis Cup tie.

RECORDS GALORE

Sachin Tendulkar scored 163, his highest ODI score abroad and highest by an Indian in New Zealand, as India posted 392/4—its second highest score in ODIs and highest against a Test-playing nation.

The match aggregate of 726 is the second highest ever in ODIs. Indian batsmen smashed a world record-equalling 18 sixes. New Zealand hit 13, making for a world record of 31 sixes in a match.

Gandhi watch fetched more than Kennedy’s (TOI,Mum,09Mar09,Pg1)

In the New York auction of Mahatma Gandhi’s items, Bapu’s Zenith watch accounted for half the total amount of Rs 10 crore. It fetched ten times more than the late US President John F Kennedy’s Natrix watch which was sold for $1,20,000.

Outsourcing to India won’t stop: Moody’s (TOI,Mum,09Mar09,Pg19)

New Delhi: At a time when US President Barack Obama is coming down heavily on outsourcing, global financial firm Moody’s has said India will remain a top outsourcing destination.

“India will remain a top outsourcing destination because of its tech savvy and English-proficient urban workforce whose wages are much lower than their western counterparts,” Moody’s Economy.Com economist Sherman Chan said.

TCS may trim workforce by 1% in 2009 to beat slump (TOI,Mum,09Mar09,Pg20)

Chennai: India’s No. 1 IT company Tata Consultancy Services (TCS) has decided to hand over pink slips to around 1,300 employees or 1% of its global workforce this year.

About 100 employees have been sacked in Chennai in the last two weeks, TCS sources told TOI. Company officials, however, said this was a routine process and was based on performance.

BSNL to hike 3G telephone lines 8-fold (TOI,Mum,09Mar09,Pg20)

India’s largest phone firm by revenues and No.4 mobile operator, Bharat Sanchar Nigam (BSNL), has launched its 3G services in 11 cities. The state-run company is said to be increasing the purchase of 3G phone lines eightfold, as it aims to pocket a large share of the market with its new data rich service offering.

BSNL had purchased 93 million phone lines, of which half will be rolled out offering 3G service. 3G services give users a chance to enjoy fast internet access, games and a host of multimedia content on their cellphones.

BSNL, which along with MTNL, received the technology platform to run the 3G services, plans to cover the entire country by mid-2009.

For news in detail, visit The Times of India ePaper

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Twenty-first century belongs to India, says Mukesh Ambani (ET,Mum,09Mar09,Pg15)

DEMONSTRATING confidence in India’s youth, Reliance Industries (RIL) chairman Mukesh Ambani said India has a huge demographic advantage, emphasising that the 21st century is destined to be India’s century. “India will become richer before it gets older and the Chinese will become older before they get richer,” Mr Ambani said at the International Bar Association (IBA), while addressing a conference on “Taking India to the next millennium” in Mumbai on Friday.

Talking of poverty, Mr Ambani said the responsibility of eradicating poverty lies “with all of us”, adding it’s not fair to hold only the government or the industry responsible for it.

When asked about social responsibility of corporates and corporate governance issues, Mr Ambani said, “In the past few decades, we did a pretty good job in terms of poverty alleviation. Going forward, the responsibility lies with civil society, which means all of us... Everybody should get an equal opportunity, quality of life, health and education. I think it’s the responsibility for all of us. It’s not government, it’s not corporation, it’s all of us.”

Mr Ambani said Indian corporates are among the best governed in the world. “We really have a free press, that’s a big advantage in India. We have a sensible regulation. The good thing is that all of that works. I don’t think you can take isolated instances: if there’s a Madoff, the whole Wall Street doesn’t become bad.”

“We have to recognise that there is an imbalance of wealth distribution in the world. Before the financial crisis, 20% of the world’s population had 80% of the wealth. What this financial crisis is going to teach us is that we really have to reinvent ourselves and prosperity really has to be for all. But we have to redefine what prosperity means,” he said.

Interestingly, Mr Ambani admitted that he has not seen the Oscar-winning film Slumdog Millionaire yet. But billionaire Ambani is very keen to watch the film as soon as he can, and wants every slum dweller to become a millionaire.

Punjabi By Nature plans UK foray (ET,Mum,09Mar09,Pg16)

NEW DELHI: Premium segment restaurant chain Punjabi By Nature is planning a foray into the international market with an aim to open its first overseas outlet in the UK by next fiscal end, in addition to scouting properties in Dubai and the US. The chain, currently has five restaurants in Delhi NCR and Hyderabad and is looking to double its turnover from last year’s Rs 20 crore to Rs 40 crore by 2010-11.

London retains top slot as global financial centre (ET,Mum,09Mar09,Pg16)

LONDON retains its lead as the world’s top global financial centre, followed by New York, despite the financial turmoil of the past six months. Though, all financial centres have taken a beating in ratings, London and New York have emerged as more resilient in the last six months of 2008, compared to centres like Singapore and Hong Kong.

Mumbai has retained its position at 49, though its ratings have dropped 12 points, a notch behind Johannesburg and one ahead of new entrant Bangkok. Shanghai dropped 1 place to the 35th position. Taipei, at 41, and Kuala Lumpur, at 45, are new additions to the list from Asia.

For news in detail, visit The Economic Times ePaper

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HONG KONG CALLING DEEPIKA (BT,Mum,09Mar09,Pg1)

Chandni Chowk to China may have bombed at the box office here but in faraway Hong Kong, it has brought Deepika Padukone a lot of appreciation. She is the first Indian actress to have been nominated in the Best Actress category at the 33rd Hong Kong International Film Festival which will be held from March 22 to April 13.

Deepika, who will be competing with actresses from China, Hong Kong and Korea for the award, is thrilled.

“Considering the fact that the film fared so badly, it feels great to be noticed and nominated at an international level. I am privileged,” said the actress.

She feels it’s her character Meow from China who smoothly indulges in martial arts that may have aroused interest in the jury members. “The Chinese look combined with my martial arts training may have got me this award. But whatever it is, I am very happy,” she said.

Her co-star Akshay Kumar, too, has been invited for the festival. Besides Deepika, Oscar winner A R Rahman has been nominated for his music in Jodhaa Akbar.

Some 300 films from over 50 countries will be screened at the festival including 20 world premieres and 30 Asian movie premieres.

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 2.0 % today.

SEN SEX : 8,160.4 (-2.0%) NIFTY: 2,573.2 (-1.8%)

DOWN..61.5 % from 21,206.77 the 52-week high of SENSEX

UP...........6.0 % 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. So, it is going to be a very good time for investments in good stocks. So, do invest in India in the second half of 2009.

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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