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From
Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 174 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Exit polls project Cong ahead of NDA
- Action shifts from wooing voters to running mates
- Satyam sees exit of top honchos
- IcySpicy: Who’s the ‘hair’ apparent?
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SENSEX : 12,019.7 DOWN 43.3 % from 52-wk high
FOREX-Rs: USD 49.26 / EUR 67.50 / GBP 75.47
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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Exit polls project Cong ahead of NDA
The Congress-led UPA has been projected to have an edge over NDA and others in the Lok Sabha elections which are expected to produce a highly-fractured verdict, exit polls on television news channels show.
The results of the surveys, shown by the channels at the end of the fifth and final phase of polling in the month-long exercise, have placed the BJP-led NDA not very far behind the UPA and the Third Front at a little over 100 seats.
'Headlines Today' channel gave Congress and its allies 191 seats against 180 to BJP and its allies. The Left parties, which played a crucial role in the outgoing Lok Sabha with 60 seats, has been projected to get 38 while 'Others' including the BSP are set to get 134 in a House of 543.
In its projections, 'India TV' channel said UPA would get between 195 seats and it could go up to 227 if 32 seats of RJD, LJP and SP are added. The channel has given NDA 189 and the Third Front 113. 'Others' are projected to get 14 seats.
http://www.indianexpress.com/news/exit-polls-project-cong-ahead-of-nda/458700/
Action shifts from wooing voters to running mates
Big 3 To Step Up Efforts To Get The Numbers Right
From Saturday, when the EVMs release the winners and losers, it will be about winning political friends. Promises will be made, poses will be struck, there will be much pretending, as parties begin to shed their pre-poll anathema and get down to realpolitik.
The BJP, which has cast its net wide, said it is willing to take the support of any party that will back LK Advani’s bid to lead the next government.
Party managers maintained that the BJP would emerge as the single-largest outfit, as it expects to gain much more in comparison to the Congress. While the Congress can bank on gains in Kerala, Rajasthan, Orissa and Punjab, the party could suffer losses in many NDA controlled states, besides Jharkhand and Assam.
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Satyam sees exit of top honchos (TOI,Mum,13May09,Pg21)
Hyderabad: Four top guns are on their way out of the scam-hit IT major Satyam and buzz is that many senior functionaries of the firm will follow suit.
Fearing a realignment of roles by Tech Mahindra, senior vice presidents Virender Aggarwal and Gary Teelucksingh have put in their papers, according to sources. Aggarwal is the regional business unit head for Asia Pacific and Middle East and Teelucksingh is senior vice president for Satyam Americas that comprises Canada, Latin America and the Caribbean region.
Sources in the company said that two more senior execs, Krish Kumaraswamy, the SAP Technology Practice head, and Ramesh Babu, the second in command for the SAP business unit, have also quit. Industry analysts said that Kumaraswamy could have quit to join HCL that recently bagged a major SAP project.
Analysts said that senior Satyam execs have begun to quit the company as they fear Tech Mahindra may have plans to scrap some positions or appoint its own sets of senior vice presidents. “You move when your situation is good,’’ said a senior industry source.
“There could be concerns of some positions even ceasing to exist after the Mahindra takeover. After all, customers are drying up in regions like Middle East and Latin America,’’ said a source.
Of the four, sources say, Virender Aggarwal is the big one, who not only spent 10 years in Satyam (he joined the company in 1999, leaving NIIT where he held the position of vice president) but played a key role in the company’s expansion in other regions, particularly Singapore, where he was taking up Satyam’s expansion plans since the year 2000.
After Raju’s confession, Aggarwal was part of the task force team that was set up to steer the company through the crisis.
He was clearly in the good books of Ramalinga Raju as he was appointed director on the board of Knowledge Dynamics, the Singapore-headquartered company, which Satyam acquired in July, 2005.
Gary Teelucksingh, a Canadian, is in comparison a fairly new entrant into the company and was reporting to Ram Mynampati. Teelucksingh’s key responsibility was to focus on the growth of the company in the Americas region.
The resignation of Krish Kumarswamy, too, has created quite a stir. Known as ‘KK’ in the organisation, those who have worked with him say he is a dynamic worker and “very important for the SAP practice of Satyam’’.
Senior associates in the company indicate that another 70 senior functionaries, with over 20 years of work experience, are on their way out.
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IcySpicy
Who’s the ‘hair’ apparent? (BT ,Mum,13May09,Pg34)
Kareena Kapoor seems to be taking a lot of inspiration from Aamir Khan. What else can explain her penchant to don a new look in every film.
After losing weight for Tashan, she gained a few pounds for Rensil D’Silva’s film. Now, we hear she plans to chop of her tresses for her movie with Karan Johar that is a remake of the Hollywood film Step Mom.
Sources say, “This is the first time Kareena’s going to go for a haircut for a role. Though her look has to be decided she is keen to look drastically different.”
http://epaper.timesofindia.com/Daily/skins/TOINEW/navigator.asp?Daily=TOIM&showST=true&login=default
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex came down by 1.1% today.
SENSEX : 12,019.7 (-1.1%) NIFTY: 3,635.3 (-1.3%)
DOWN..43.3 % from 21,206.77 the 52-week high of SENSEX
UP...........56.2 % 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.
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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