Mukesh AmbaniFrom
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Quick Update For NRIs, PIOs
Read by NRIs in over 37 Countries
Issue No. 210 Evening Edition IST
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Headline News in this issue:
Obama OK with more Osama-type raids
Now, Wipro Under Tax Lens for Body Shopping
Tata’s Jaguar Land Rover to Post Record Profit of £1 Billion in FY11
US is Hot Property Among Indians
India’s CEO # 2
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Obama OK with more Osama-type raids
Pakistan should get over its “India obsession”
London: US president Barack Obama said on Sunday he will order an operation similar to the one that killed al-Qaida chief Osama bin Laden if another wanted militant was found in Pakistan.
He said this in an interview to BBC hours before embarking on a tour of Ireland, Britain, France and Poland. Obama also urged Pakistan to get over its “India obsession”, saying Islamabad needs to focus on its domestic problems.
(For more details, visit:
Now, Wipro Under Tax Lens for Body Shopping
Company gets ‘scrutiny notice’ seeking details of services provided to clients for 2008-09
About six months ago when India’s second-largest software company, Infosys, was slapped with a Rs 450-crore tax demand, the industry felt it was an outrageous decision by revenue authorities who argued that onshore contracts, infamously called body shopping, were not export of software.
For the taxman, it was export of manpower—a claim that shocked the IT industry and sparked queries in Parliament. The debate is unlikely to end in a hurry. Wipro, the country’s thirdlargest software exporter, has now come under tax scrutiny for the same reasons.
(For more details, visit:
Tata’s Jaguar Land Rover to Post Record Profit of £1 Billion in FY11
Jaguar Land Rover will this week unveil record annual profits exceeding £1 billion, completing the luxury carmaker’s remarkable recovery from the depths of recession.
(For more details, visit:
US is Hot Property Among Indians
More and more rich Indians buying house in States
India-born American realtor Jaswant Lalwani hasn’t been this busy since the housing crisis in the US in 2008. “I have closed 10 deals with Indian buyers in the last three months. And I am working on another 30,” he says. The Manhattanbased realtor deals with all kinds of buyers, but of late, he has got more business from Indian clients.
Rohit Prakash, based in Austin, Texas, has for long been doing brisk business helping Americans and foreigners buy and sell property in the capital of one of America’s biggest states. Recently, he set up American Full House to cater to Indians looking to buy homes in locations that have seen a huge price drop. An Indian buyer who contacted him some time ago is close to doing two deals in a suburb of Los Angeles at $82,000 and $85,000 each for a three-bedroom condominium. At the peak of the housing boom, these properties were selling at close to $250,000.
(For more details, visit:
The Economic Times Corporate Dossier
India’s Most Powerful CEOs 2011 Rank
CEO # 2
Mukesh D Ambani
RELIANCE INDUSTRIES
Theatre of Operations:
Petroleum, petrochemicals, textile and retail
Bragging rights:
The richest man in Asia, he heads the largest Indian private sector conglomerate
It's in his genes:
Thinks big, like his father, the late Dhirubhai Ambani
Started his career with:
Reliance Industries (RIL)
Leadership style:
Relationship-based, entrepreneurial Family: Husband to Nita, father to Akash, Anant and Isha
Famous Quote:
"We call it infectious impatience. That's his (Dhirubhai’s) hallmark and we are trying to inculcate it in the entire organisation. So that things not only get done but get done in double quick time"
Thorn In His Side:
Runaway inflation in crude prices and delay in finding a market for gas
Cool Friend:
Anand Jain
Big indulgence:
Antila, the $2billion home he’s built on Altamount Road, Mumbai
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Investment & Wealth Creation Advice (Some Golden Rules)
Please note that our advice is primarily for investors and not for speculators. Investors typically invest with a 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue. However, it is worth reading it again and again to get your investments on the right tracks as what we have stated below is based on some golden rules of investing.
Indian nationals & PIOs can expect about 15-25% returns year-on-year
Indian capital markets have been thrown open to individual foreign investors in the budget announced recently. Now, PIOs can also invest in Indian Mutual Funds (MFs).
Indian Investors can expect 15-25% returns year-on-year if they invest in MFs which are rated 5-star by rating agencies. It would mean, NRIs, PIOs as well as Resident Indians will be able to double their investments in MFs every 3-4 years, taking almost no risk. So, India offers a great investment opportunity.
NRI.NewsIndia recommends investment in Indian Mutual Funds taking the SIP (Systematic Investment Plan) route. An individual investor may like to schedule weekly or monthly investments in select mutual funds from now onwards.
Kaun Banega Karodpati?
Only Rs. 2,000 per month invested in a 5-star rated mutual fund in India for 30 years, will make you a Karodpati. Most of you can easily do this much investment in your name and/or in the name of each family member.
NRI.NewsIndia Recommends investment in the following Mutual Funds:
1. HDFC Equity Fund - Growth Option
2. Franklin India Blue Chip Fund - Growth Option
3. Fidelity Equity - Growth Option
4. DSP Blackrock Top 100 Equity - Growth Option
5. HDFC Top 200 - Growth Option
6. ICICI Prudential Dynamic Plan - Growth Option
7. HDFC Prudence Fund - Growth Option
Do not purchase shares of a good company at a wrong (high) 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 more than 15% of your investment in any one mutual fund, stock or sector.
NRIs & PIOs should not keep all their money in just one country. Keep 20-33% in nationalized banks in India or in private banks like HDFC, ICICI, HSBC etc.
As actors & sportsmen can never be sure about their earnings after 5-10 years, they should invest 50% of their earnings every month in Fixed Deposits, Mutual Funds and Real Estate.
If you suddenly get a few lakhs or a few crores, do not invest the sum in a hurry. Park it in a Fixed Deposit for a couple of quarters. Consult one or two investment advisors and then invest the amount in a proper manner.
Never go by your gut feel or a freind's advice when it comes to investing your money. Always consult one or two investment advisors before you make your investments.
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 20-40% 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.
Also, never take any loan to invest in stocks or mutual funds.
For a FREE First Consultation before investing in Mutual Funds in India, write to psm@amsoftconsulting.com.
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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