Headline News
From
Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 176 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Manmohan to remain PM: Congress
- Lost: P Chidambaram (Cong) in Sivaganga
- WON: P. CHIDAMBARAM WINS after recount
- Lost: Lalu loses Patliputra, but wins Saran
- Lost: Ram Vilas Paswan loses from Hajipur
- Lost: Shekhar Suman (Loses to Shatrughna Sinha)
- Lost: Renuka Chaudhary
- Lost: Ram Vilas Paswan
- Won: Priya Dutt, Jaya Prada, Sachin Pilot, Nav. Siddhoo, Kamal Nath, Sushma Swaraj, Jaswant Singh, Deve Gauda, Shashi Tharoor, Farokh Abdulla, Kapil Sibal
- Delhi - Cong 7/7; UP - Cong(21), BSP(23), SP(22) / 80; Haryana - Cong 9/10; Kerala - Cong 13/20; Rajasthan - Cong 20/25; MP - BJP 17/29; AP - Cong 34/42; TN - DMK 18/39; Bihar - JDU(21), BJP(12)/40; Karnataka - BJP 20/28; Gujarat - BJP 17, Cong 9/28; Maharashtra - Cong 17, BJP - 9/48; West Bengal - Trinamul 19/42
- IcySpicy: ‘Yeh dil maange more!’
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SENSEX : 12,173.4 DOWN 42.6 % from 52-wk high
FOREX-Rs: USD 49.54 / EUR 67.50 / GBP 75.42
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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Manmohan to remain PM: Congress
NEW DELHI: Congress on Saturday made it clear that Manmohan Singh will lead a government led by the party as promised during the campaign, scotching speculation on its prime ministerial candidate.
Addressing the press at 10, Janpath in New Delhi, party president Sonia Gandhi said that Manmohan Singh remains the party’s choice for heading the next government.
She said the verdict reflects the wisdom of the Indian voter, who “always make the right choice.”
PM Manmohan Singh said he would try to persuade Rahul Gandhi, scion of the Gandhi family, to join the cabinet after the ruling Congress-led coalition's win in a general election.
http://timesofindia.indiatimes.com/Manmohan-not-Rahul-to-be-PM-Congress/articleshow/4539589.cms
Results Update: 16th May evening
UPA 261/543 (Cogress 205)
NDA 160 (BJP 118)
3rd front 81
4th front 27
NEW DELHI: The Congress-led UPA is all set to retain power at the Centre putting up an impressive performance in states like Andhra Pradesh and Tamil Nadu to overwhelm the BJP-led NDA.The UPA alliance was ahead in 250 constituencies with Congress alone leading in 198 seats. The ruling Front is just short of a little over 20 seats for the magic figure of 272 in the 543-member Lok Sabha. The NDA was leading in 157 seats with BJP ahead in 119 seats.
The Congress exulted over its victory saying it was a vindication of its policies.
Manmohan Singh will be the first Prime Minister after Jawaharlal Nehru to return to power after a full five-year term with the Congress having nominated him as its candidate for the top post, first time it had done in its history.
The Congress performance was spectacular in Kerala where it routed the Left Front and dealt a severe blow to the Marxists in West Bengal with help from ally Trinamool Congress.
It also swept Delhi, did exceedingly well in Rajasthan, Haryana, Punjab, Uttarakhand and more than doubled its tally in UP leading in 20 of the 80 seats there.
The BJP has conceded defeat and said the party had performed below expectation and the mandate of the people was in favour of the Congress-led UPA alliance. "It has become clear that Congress and the alliance led by it has emerged as the largest coalition...though there was no clear majority," BJP general secretary Arun Jaitley told reporters here.
Putting up a brave face, Jaitley said the BJP honoured the mandate of the people with "due respect".
Commenting on performance of the party, he said "we performed well in some places but we performed below expectation in some other states.
"It is a collective failure," he said but made it clear that there would be no change in party's ideology.
Jaitley said the BJP had run a positive campaign during the electioneering.
The BJP has put up a good showing in Karnataka, Gujarat and Madhya Pradesh. The party was leading in 18 of the 28 seats in Karnataka, 19 out of the 29 seats in MP and 15 out of 26 in Gujarat.
Congress president Sonia Gandhi (Rae Bareli), her son Rahul Gandhi (Amethi), External Affairs Minister Pranab Mukherjee(Jangipur), Industry Minister Kamal Nath (Chhindwara), Veerappa Moily (Chikaballapur), Jyotiraditya Scindia (Guna) were among the prominent party candidates leading. Sachin Pilot (Ajmer) has won.
BJP leader L K Advani (Gandhinagar), party president Rajnath Singh (Ghaziabad), Yashwant Sinha (Hazaribagh), Jaswant Singh (Darjeeling), Sushma Swaraj (Vidisha) and Varun Gandhi (Pilibhit) were leading while his mother Maneka Gandhi has lost from Aonla.
Other prominent leaders who were ahead were Sharad Pawar (Madha), Mulayam Singh Yadav in Mainpuri, Lalu Yadav (Pataliputra and Saran), Kalyan Singh (Etah), Ajit Singh (Baghpat), Sharad Yadav (Madhepura) and Mamata Bannerjee (Kolkata South). LJP leader Ram Vilas Paswan has lost from Hajipur.
Praja Rajyam Party chief Chiranjeevi has won from Tirupati, Andhra Pradesh.
Surprisingly, the Congress ally DMK put up a good showing leading in 18 of the 39 seats in Tamil Nadu while AIADMK, which had no member in the outgoing House, was ahead in nine seats.
The Congress was leading in eight seats but its stalwart P Chidambaram lost from Sivaganga. Mani Shankar Aiyar was trailing in Mayiladuthurai.
DMK candidates M K Azhagiri, son of chief minister M Karunanidhi has won from Madurai and Dayanidhi Maran was leadinf Chennai South while Union Minister T R Baalu was trailing in Sriperumbudur. MDMK leader Vaiko was trailing in Sivakasi.
Congress reaffirmed Manmohan Singh will be the Prime Minister now and Rahul Gandhi its future prime minister.
This election Manmohan Singh is our prime ministerial candidate, AICC General Secretary Janardan Dwivedi told reporters here.
The prime minister's chair is Rahul Gandhi's future as he is the future leader of the party, Dwivedi said.
He said there were three decisive factors for party's good performance - leadership of the government by the Prime Minister, leadership of UPA by Sonia Gandhi and leadership of campaign by Rahul.
Dwivedi's remarks come at a time when UPA appeared all set to return to power.
On the issue of alliances, Dwivedi said Left parties also have very little options and will also introspect in the post election scenario. "We had not broken the relationship, they had withdrawn support," he said.
The Left parties had withdrawn support to the Congress-led UPA government following differences over the Indo-US nuclear deal.
http://timesofindia.indiatimes.com/UPA-to-retain-power-BJP-concedes-defeat/articleshow/4537691.cms
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Pink slips galore at Jet Airways
Faced with rising operation costs and stung by downturn in the aviation industry, Jet Airways has begun laying off its cabin crew in phases.
The airline has been laying off cabin crew starting from April 30 and 30-50 employees are being given pink slips almost on a daily basis, an industry source said.
Dismissive of the numbers, a Jet Airways spokesperson said, "the numbers indicated are grossly incorrect".
In October last year, Jet Airways in one go sacked 1,900 employees but only to take back the very next day with its chairman Naresh Goyal saying he did not want to see "tears in their (employees) eyes".
The airline said the notices of release or termination issued to the staff were fully in accordance with their contracts and in compliance with the law.
It has undertaken a comprehensive cost restructuring exercise, which includes withdrawal of operations on uneconomic routes, downsizing of capacity, pruning down executive perks and temporary reduction of management salaries and at last but not necessary measures trimming down any excessive workforce.
http://www.indianexpress.com/news/pink-slips-galore-at-jet-airways/460097/
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IcySpicy
‘Yeh dil maange more!’ (BT,Mum,15May09,Pg27)
Akshay and Aishwarya make a big splash in their second film together
They make a big splash together, no doubt. And Akshay Kumar isn’t even inviting Aishwarya Bachchan to plunge into the pool with him for the next season of his stunt/dare reality game show on television.
Though, with daytime temperatures at 34 degrees C, that would not be a bad idea. The water looks inviting. And, so does Aishwarya — which man wouldn’t want to be in the pool with her! But the two are on location for Vipul Shah’s Action Replayy in Karjat.
It is a fantasy film that takes them back to their 20s. For which the set has been designed to look like South Mumbai in the swinging 1970s. This is only the second time they’re acting together after the 2002 hit Khaki.
Vipul Shah, who believes he’s achieved a casting coup of sorts with this film, cannot imagine why.
“They’re two good looking people who complement each other physically,” he said of his hero and heroine.
BT, which sneaked in on the sets when work had stopped and play had started, got the Khiladi and Most Beautiful Woman in the World having a blast. But no, they didn’t fall into the water...
AKSHAY: This is a fun film, absolutely different from Khaki, full on — it reflects the happy phase of the 1970s...
ASH: Yes, the Rishi Kapoor era, with those handling the music, dance and fashion having a party with their creativity.
AKSHAY: You weren’t born then! How many songs do we have — five together, you’ve got an extra one, na? Remember the first time? The dance steps I couldn’t get right for Khaki? You were so good. I was, like, doing aerobics!
ASH: That’s your style! But what’s with you... when we work, you’re really quick, it doesn’t take you time. I remember the first time we met, at Madh Island to do a ‘stylised picture shoot’ for a filmi magazine. I was just getting into the industry. We had to be covered with sand and sea!
AKSHAY: It was 1995-96...
ASH: Sssshhh, that reveals our ages!
AKSHAY: But we’re still around... and still struggling!
ASH: You’re done struggling. You’ve got your due in the last five years.
AKSHAY: But I want more!
ASH: I know. And this is an exciting time for creativity in the industry. There are so many different genres. You just put it out there and see what everybody will find.
AKSHAY: Yeah, like Chak De! India. People know what hockey’s all about, but to make a film on it... Even Singh Is Kingg. Bollywood has had Sardar characters. But nobody has played a Sardar throughout the film as hero. I stood up and took the risk.
ASH: That’s what I like about Action Replayy... it’s a fun genre romantic film.
AKSHAY: Fun? You’re forgetting the wigs! And two hours of makeup. I have no patience. Do they put that gum on you? ASH: No, it depends on what your look is...
AKSHAY: Gulshan Grover loves this kind of thing, I don’t. Why are you smiling?
ASH: I’m thinking of Hrithik in Jodhaa-Akbar and Shah Rukh in Devdas... their hours of agony doing makeup! And Hrithik coming out and bowing to me and saying, “Full respect!” because he finally knew what we actresses go through.
AKSHAY: Rubbish, the heroes are always saying, “Heroine ko jaldi bulao!” But, seriously, you enjoy two-and-half hours of being made up?
ASH: You can’t enjoy it. This is not vanity. It’s trying our patience.
AKSHAY: You know what tries my patience? The ease with which you remember all your lines when I’m mentally struggling to cope. And then you prompt me! Which makes me sick. Because you’ve learned my lines as well...
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex went up by 2.5% today.
SENSEX : 12,173.4 (+2.5%) NIFTY: 3,671.7 (+2.2%)
DOWN..42.6 % from 21,206.77 the 52-week high of SENSEX
UP...........58.1 % 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 8000-9000 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. Put 33% in Fixed-Interest instruments and the remaining 33% in real estate when real estate prices are low.
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 that is the case in 2009) and divest when prices are high (which will be the case in Q1-2011).
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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