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INDIAN FINGER IN AMERICAN PIE
2008-02-18 05:05:00
Every four years, the world is taken on a roller-coaster ride as American s cast their vote for the President of the United States. Though votes are also cast to fill vacancies in the Congress, state governorships, and other state and local offices, the story of the quest for the presidency is an all-consuming affair. This year’s race for the White House has everywhere generated more than the usual excitement, and understandably so. For the first time in American history, the Anglo-Saxon white male’s ironclad grip over this office seems to have been put into question. Had Hillary Clinton been the sole Democratic frontrunner, she would already have ‘made history’. All but poised to claim victory as the nominee of the Democratic party, she suddenly found more than a worthy contender in Barrack Obama, who is not only young but, from his father’s side, of African descent. In a country, where nearly one out of every three African American males will, in his l...
More About: Culture , Finance , Indian , Finger

THE IPO IS NOT THE FIRST CHOICE.
2008-02-17 05:05:00
 It has built the world’s most talked-about hotel, the Burj al-Arab in Dubai, and is working on the tallest building in the world (the Burj Dubai), but Emaar’s stock offering in India, Emaar MGF, hasn’t got Indian investors excited. Wednesday, 6th February, 2008 was the scheduled close of the offer, but subscriptions were received for only 75 per cent of the shares on offer. The infrastructure giant was forced to extend its deadline to February 11 and reportedly reduced the price band of its share from Rs 540- Rs 630 to Rs 530-Rs 630. It wasn’t just Emaar, though. Wockhardt Hospitals‘ stock sale, scheduled closed on 7th February, 2008 received subscriptions amounting to a mere 3 per cent of the shares on offer till late. The threat of a US recession is looming and investors are in no mood to put money on giants with revenues only projected in the future. They are opting instead for smaller players with established revenue streams. In a protracted slow...
More About: Culture , Choice

Is decoupling dead?
2008-02-17 05:02:00
Through the last quarter of 2007, India seemed to have “decoupled” from the US market. The mindless day to day correlation with the Dow and NASDAQ seemed to have been snapped. Sadly it wasn’t an enduring decoupling as we seem to have recoupled again. We are back to the same old grind: eagerly waiting for global market cues every morning and promptly falling in line. So is decoupling dead? Yes and no. First, even the staunchest proponents of decoupling would agree that it is wishful to expect emerging markets to not blink at all as the US economy faces up to the recession that the world has been fearing for the last one year. This is no empty debate now, nor a distant possibility: it seems to be right upon us. As the bad news gets worse, the bulls throw in the towel and hunker down for a rough patch, a last bit of capitulation always happens. While this capitulation plays out, some of the panic is bound to spill over to markets like ours. As may be happening now. ...
More About: Finance , Dead

ONE MAN IN INDIA OR INDIA IN ONE MAN
2008-02-17 04:57:00
I frequently ask myself and get asked the question, especially around Republic Day and Independence Day: which is the single most important reason for India to have remained a true, functioning democracy with a vibrant Constitution despite years of colonial rule, when the neighbouring landscape is littered with the wrecks and ruins of constitutionalism and failed democracies? I have come to the conclusion that there are obviously several structural, historical, political and fortuitous reasons for this phenomenon. But if I was forced to choose the single most important reason, I would ascribe it to the personality and character of one man - Jawaharlal Nehru. First, the validity of the premise - is India, in fact, an exception? It appears so. It is obvious that there is no other spot on earth, of comparable size, diversity and stage of economic development, which has remained a vibrant democracy after gaining independence in the last century: Going further; I can even add that there ...
More About: Indian History

GDP TO HIT 8.7% THIS FISCAL
2008-02-16 03:13:00
High interest rate leading to a slowdown of industrial production, drop in export and sluggish agriculture is likely to moderate India’s economic growth 8.7 per cent in the current fiscal. The Gross Domestic Product (GDP) had grown at 9.6 per cent in 2006-07, which was the highest in 18 years. The advance estimates reveal that manufacturing sector is likely to grow at 9.4 per cent during the fiscal as against 12 per cent last year. Agriculture and allied activities may also see a dip and are estimated to expand at 2.6 per cent as against 3.8 per cent in the previous year.   GDP at factor cost at constant (1999-2000) prices in 2007 -08 is likely to attain a level of Rs 31,14,452 crore as against Rs 28,64,310 crore in 2006-07, according to the advance estimates of national income released by the government. According to the estimates, the GDP grew at 9.1 per cent during the first half of this fiscal. It grew at 9.3 per cent in the first quarter and 8.9 per cent in the next...
More About: Finance , Fiscal

A DEBATE ON ENERGY POLICIES
2008-02-16 03:10:00
Prime Minister Manmohan Singh on sought a national debate on energy pricing policies to examine whether over use of resources through misdirected subsidies was leading to environmental degradation. He also said long-term costs of short-term benefits and issues around future energy security need to be examined. The Prime Minister’s statement comes in wake of the government once again deferring an increase of fuel prices amid environmentalists insisting that low fuel prices were promoting the greater use of personal transport causing more air pollution. Huge government subsidies are required to keep prices of fuel and energy low.   Singh, who was speaking at the inaugural function of Delhi Sustainable Development Summit, also called for a “fair, equitable and transparent” global regime for technology transfer in the interest of people living in developing countries. “We in the developing world desperately need access to environment- friendly technologies,...
More About: Culture , Energy , Debate , Policies

BATTERY POWERED BY BIO FUEL
2008-02-15 17:59:00
Human body is the biggest natural miracle machine and different types of bio fluids like gas breathed out (i.e., carbon dioxide), night soil/stool and urine are major wastes byproducts of this machine along with saliva, tears, semen and blood. Though nature makes best use of these bio-fluid by-products, but scientists are always keen in making the technological use of these products.   Urine is always in the limelight for its various health benefits like treating toothache, mouth pain, and tonsils, to stop blood flow due to small cuttings with many more internal benefits if it (urine) is swallowed. In villages, it was generally ox or cow urine which was considered superior to human urine but in the absence of ox or cow urine, human urine was always put to many such applications. With the growing tendency towards miniaturisation, use of micro-electronic-mechanical-systems (MEMS) and nano-devices is expanding in every day human applications. Scientists in research groups around ...
More About: Culture , Battery , Fuel

MAKE A LIST OF REQUIREMENTS FOR F D I
2008-02-15 15:46:00
 External affairs minister Pranab Mukherjee has set in motion an exercise in, the ministry to assess the specific requirement of the states and Union Territories with regard to technology requirement and foreign direct investment (FDI) to give an added impetus to their developmental endeavours. It is apparent Mukherjee first wants to create a much-vaunted database without losing sight of the specifics in terms of priorities of the various states and Union Territories. These are bound to be different considering that all states are not agrarian, industrial, coastal or landlocked. The endeavour is to give a multiplier effect and get on the same songstreet as the industrialised countries without infringing on the role of the state governments and the organs at the Centre. What is imperative is that the MEA has to remain in the loop as the embassies abroad are the eyes and ears of the government. As the global and regional environment has changed, MEA believes that there is need for s...
More About: Finance , List , Make , A list

INDIA BHARTI FRANCE
2008-02-14 17:50:00
Telecom Major Bharti Airtel said it would set up another high-capacity undersea cable, which will connect India to France through West Asia, in association with eight global telecom players by the end of next year. A formal construction and maintenance agreement to build a high-capacity fiber-optic submarine cable that would stretch from India to France through West Asia was signed in Rome by all the firms. The cable system - IME-WE (India, West Asia, and Western Europe) is the fifth in the series of similar cable systems, which includes the SEA-ME-WE series, and is likely to be available for service by the end of 2009, a Bharti Airtel statement said.   The nine global telecom companies that have come together to form the I-ME-WE consortium include Bharti Airtel (India), Etisalat (UAE), France Telecom (France), Ogero (Lebanon), PTCL (Pakistan), STC (Saudi- Arabia), TE (Egypt), TIS Sparkle (Italy) and VSNL (India).   The supply contract for the construction of IME- WE ...
More About: Culture , Finance

TECHNOLOGY HELPING POOR
2008-02-14 17:18:00
The 11th National Conference on e-Governance commenced at Panchkula with a call to policymakers and professionals to ensure that benefits of Information and Communication Technologies touch the lives of the poor and empower them.  Addressing the gathering, Haryana Governor Dr A.R. Kidwai, who presided over the inaugural session, said India was the nursery for some of the brightest ICT technologists and scientists, but it also had the largest number of poor in the world at the same time. “No technological advance can be truly complemented if it doesn’t touch the lives of these people. It is this challenge that the industry, academia, civil society and the government agencies will have to keep in mind when they chart the future ICT policy for India,” he said in a concise speech.  Dr Kidwai said the ICT revolution bypassing the poor had both economic and social costs as the gap between the haves and have-nots would increase in economic terms if benefits from ICT did...
More About: Technology , Finance , Poor

ATTACKING NATIONAL ICONS
2008-02-14 11:42:00
Sania Mirza has decided to boycott tournaments in India because she was tired of being dragged into controversy after controversy. The latest was her being taken to court for allegedly insulting the national flag. The man who filed the complaint against Sania is a Bhopal-based lawyer called R.K. Pandey. Interestingly, Pandey, also called the “flag advocate” has filed similar cases against a slew of other celebrities, including Sachin Tendulkar (remember the tricolor cake-cutting fracas?), Mahendra Singh Dhoni, yoga guru Ramdev, T.V. anchor Mandira Bedi, actress Sharmila Tagore, painter M.F. Hussain and Madhya Pradesh Chief Minister Shivraj Singh Chouhan. The latest to be dragged to court is Hamid Kazi, an MLA from Barhanpur in Madhya Pradesh.   Asked whether he does it for the publicity, Pandey from Bhopal: “No, it’s not for cheap publicity. I have filed all these cases on behalf of my clients. I am not the complainant in these cases. What’s wrong...
More About: National , Icons , Indian History

Rate Cut Could Help Shore up Market
2008-02-13 17:07:00
There are a number of reasons for the recent meltdown in the stock markets but the main reason seems to be emanating from outside India. All major Asian markets have been experiencing a bloodbath at the bourses and India too had its share when the 30 share Sensex shed nearly 16 percent, from its record high on ‘Black Monday’, January 21. All stock markets work on ’sentiments’ and the future of the biggest economy in the world, is of great concern to the market operators. The news of a coming recession in the US is enough to cause jitters in the world bourses because its future spending pattern and demand is linked with the global economy’s production and output.   The US economy was doing fine till the housing and credit bubble that was fuelled by low interest rates, burst. It led to the ’sub-prime’ mortgage crisis in which it was clear that the banks had been lending without checking the credentials of the borrowers. Default after default b...
More About: Finance , Market , Shore , Rate

Not quite the best earnings season
2008-02-13 16:56:00
In all the market turbulence of January and the hype around Central bank meetings, this earnings season got sort of smothered. Now that the more obvious triggers have played out, one has a little more time to reflect on how earnings shaped up this quarter. While it wasn’t a bad quarter, it wasn’t the best we have seen in recent times. The aggregated growth numbers for all companies may not paint a very gloomy picture but a closer look does reveal a few warts.   Other income played a fairly important role this time. My guess, as I haven’t been able to collate all the numbers yet, is that earnings growth stripped of other income will be close to the 15 per cent mark. While that’s not terrible, it isn’t spectacular either. But that’s all a jumbled mass of statistics which hides more than it reveals. What is a bit more disappointing is that there were hardly any positive surprises, the steroid that is necessary to support expanding valuations. I...
More About: Finance , Season , Earnings

COMING SOON: 3G SPECTRUM
2008-02-13 15:56:00
Union Minister of Communication and Information Technology A. Raja said the 3G spectrum (wifi) would soon be a reality in the country soon. The third generation (3G) wireless technology (spectrum) would provide faster, easier and better connectivity to all types of cell and internet users with the help of WIFI towers. After inaugurating the two-day 11th National e-Governance Conference, Raja said modalities were - being worked out in this regard. A meeting with representatives of information technology and space research departments and private players was scheduled on February 20.While some telecom companies were being allocated bandwidths, other modalities were being finalised so that the 3G spectrum could be implemented in the next few months. Raja was hopeful of an early implementation of the project for which government agencies like Bharat Sanchar Nigam Limited (BSNL) and the Indian Space Research Organisation (ISRO) are to erect wifi towers. Relevant cyber laws were also be...
More About: Finance , Spectrum

LET?S MAKE A WORKING MODEL
2008-02-12 16:56:00
Can you guess how many Punjabi youths are at present under training in the Indian Military Academy at Dehra Dun? This question was posed to the audience by Punjab Governor and UT Administrator General S. F. Rodrigues (retd) at a function held in Chandigarh recently. He said Punjab Finance Minister Manpreet Singh Badal, who had gone to Debra Dun, came to him expressing his concern about the low presence of Punjabi youths in the academy.   The audience, though surprised over the unexpected question, made their guesses-some said 20, some 100 and others put it at 50. However, all the guesses were wrong. . The figure was as low as five out of 1,800 cadets going tinder training, the Governor said, adding that the concern of Mr. Manpreet Badal was genuine.   He emphasised the need for imparting quality education to the youth to compete in life. He said it was the duty of educational institutions to prepare and motivate the youth to join the armed forces.   Hence, in order to mo...
More About: Culture , Model , Make , Working

INDIAN FARMER
2008-02-12 16:49:00
Sixteen months after Prime Minister Manmohan Singh visited the Vidarbha region in Maharashtra and a week before another scheduled visit, a new set of dark figures on farmers’ suicides confronts us. According to the National Crime Records Bureau, farm suicides rose significantly in 2006 with 17,060 agriculturists killing themselves. Maharashtra, which happens to be the home state of Agriculture Minister Sharad Pawar, tops the list with 4,453 farmer suicides in 2006. This is the worst figure recorded “in any year for any state” since the bureau first started keeping tabs on such suicides.   The previous worst 4,147 in 2004 - was also in Maharashtra. Other states that follow Maharashtra are Andhra Pradesh, Karnataka and Madhya Pradesh and Chhattisgarh.  If these figures are shocking, it would be worthwhile to remember that these are just ‘reported’ figures of suicides that have been linked to agrarian distress. Many cases go unreported because of the...
More About: Food , Culture , Indian , Farmer

INDIA AT SEA
2008-02-12 16:44:00
Soon the India n Navy will host a seminal event termed the Indian Ocean Naval Symposium (IONS) in New Delhi. Heads of navies and delegations from 28 countries in the region, including Pakistan, have been invited to present their views. Not all might be able to come for different reasons, but even if many do as they are likely to, it will be an occasion of great significance.   Over a period of three days, the invitees will discuss matters of mutual interest concerning cooperation at sea. For the last 10 years, the Navy has been conducting the Milan series of biennial meetings, which involve maritime forces of neighbours in the eastern seas. It also hosted an International Fleet Review in Mumbai 2001 for which ships and delegations from 21 countries showed up. So, the IONS is a logical follow up and a timely step in the right direction.   Unlike the other two major oceans of the world - the Pacific and Atlantic, in which 75 per cent of all seaborne commerce is consigned to or co...
More About: Culture

Best Earnings Season
2008-02-12 14:24:00
In all the market turbulence of January and the hype around Central bank meetings, this earnings season got sort of smothered. Now that the more obvious triggers have played out, one has a little more time to reflect on how earnings shaped up this quarter. While it wasn’t a bad quarter, it wasn’t the best we have seen in recent times. The aggregated growth numbers for all companies may not paint a very gloomy picture but a closer look does reveal a few warts. Other income played a fairly important role this time. My guess, as I haven’t been able to collate all the numbers yet, is that earnings growth stripped of other income will be close to the 15 per cent mark. While that’s not terrible, it isn’t spectacular either. But that’s all a jumbled mass of statistics which hides more than it reveals. What is a bit more disappointing is that there were hardly any positive surprises, the steroid that is necessary to support expanding valuations. I don...
More About: Finance , Season , Earnings

IPO MARKET STILL FROTHY
2008-02-11 16:04:00
The recent fall may have skimmed a lot of froth off the secondary market but the primary market remains as frothy as ever. That’s the next correction waiting to happen. The three initial public offers open this week, only highlight this. Take IRE Infrastructure, priced in the 185-220 bands. Engaged in BOT road projects, this company will probably clock Rs 1,000 crore in revenues and Rs 110 crore of profit in 2009. At 220, it is asking for a market value of Rs 7,300 crore, a price-earning (PE) multiple of 70 times. IVRCL and Nagarjuna constructions, 5 times the size of IRE, have market values of around Rs 6000 crore. It beats me why anyone would want to buy a much smaller company at three times the valuation of existing listed peers. But then, one looks at Wockhardt Hospitals and almost spots a trend there. Of course, the 10 management has quickly lowered it’s price band by Rs 50 to Rs 225-260 after the market sell off. I guess we should infer that the management’s...
More About: Finance , Market

Gain-Loss on a Fine Balance
2008-02-08 16:57:00
Once again, futures traders were swept away by a wave of selling in late trade yesterday. Most of these positions would have lost money and were forced to wind up again. Clearly, speculators hadn’t learnt their lessons from the January crash, so here’s another reminder. I genuinely believe traders are making a big mistake trying to trade this volatility. It?s difficult, nearly impossible to trade in such uncertain conditions. I am actually quite surprised to hear analysts speak about levels with such conviction in such an environment. This is no traders’ market, hasn’t been for nearly a month now. Global uncertainty lingers and what is particularly worrying is the incessant selling from FIIs. One doesn’t know if this is because some hedge funds are eager to switch out of emerging market positions or if there is some genuine redemption pressure on the large emerging market funds. The drying up of institutional interest for some of the recent IPOs also b...
More About: Culture , Balance , Loss , Fine

IS IT RIGHT WORK FOR ?WORK RIGHT??
2008-02-07 16:23:00
Just two months from now - on April 1, 2008- the government will meet one of the biggest organisational challenges any government has ever faced - the extension of the National Rural Employment Guarantee Act (NREGA) to the entire country. This is one of the most ambitious development programmes in the world, set to embark soon on a decisive new phase. Has the groundwork been done for this?   During the last two years, we have bee involved in a series of NREGA-related activities (social audits, field surveys, training programmes etc.) in seven states: Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Jharkhand, Orissa, Rajasthan and Tamil Nadu. Consistent with the secondary data available, we have observed a highly uneven picture of NREGA implementation in different parts of the country.     There are states and districts where unprecedented amounts of employment have been generated and the Act has shown its ability to be a new life line for rural communities. For instance, in 20...
More About: Culture , Work

EXPORTS VS G D P
2008-02-07 16:17:00
Impacted by a strong domestic currency against the US?s dollar, India’s exports during December 2007 grew by a paltry 2.54 per cent even as in dollar terms it grew by a healthy 16.04 per cent. Amid exporters’ concerns over slowdown in the US economy and over 12 per cent appreciation in rupee against the dollar, exports went up to $12.31 billion in December 2007 as against $10.61 billion during December 2006. According to the government data released, in rupee terms, exports touched Rs 48,569.64 crore, which was 2.54 per cent higher than the value of exports during December 2006. Imports during the month were valued at $17.68 billion, up 18.06 per cent from $14.97 billion in December 2006. In rupee terms, imports increased by 4.31 per cent to Rs 69,731.56 crore in December 2007. The cumulative value of India’s exports for the first nine months of the current fiscal (April-December 2007) was $111.04 billion as against $91.20 billion, registering a growth of 21.76...
More About: Culture , Finance , Exports

REVISED GROWTH @ 9.6%
2008-02-07 16:12:00
Revising India’s economic growth rate to 9.6 per cent for 2006-07, the highest in 18 years, the government expressed confidence that the economy would expand at close to 9 per cent in the current fiscal. The earlier estimate had put the economic growth rate at 9.4 per cent last fiscal. According to the revised figures released by the Central Statistical Organisation (CSO), India’s per capita income growth rate stood at 8.1 per cent last fiscal. CSO also revised upwards economic growth rate in 2005-06 to 9.4 per cent from the earlier 9 per cent.   Commenting on the figures, Finance Minister P. Chidambaram exuded optimism that the growth during the current fiscal would be close to 9 per cent. “My goal is to continue to maintain the same level of growth but at the same time, government reserves the right to make rapid adjustments depending upon evolving global economic situation,” Chidambaram told reporters. The Indian economy has grown by over 8.5 per cent du...
More About: Growth

Reliance Entertainment plans IPO
2008-02-07 15:33:00
Anil Ambani is planning another initial public office (IPO). After Reliance Power and Reliance Infratel, Reliance-ADA Group Company Reliance Entertainment is now understood to be finalising plans for an IPO. The company is expected to file the Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) soon after the budget. Reliance Infratel, which had filed the DHRP prospectus on February 4, would receive the mandatory approval in the next 15 days. For the Reliance Entertainment issue, Kotak Mahindra and JM Financials are likely to be the investment bankers. A spokesperson for the ADA Group said: “We do not want to comment on speculation.” An analyst with a Mumbai-based research firm said: “Right now, it is difficult to arrive at a valuation for Reliance Entertainment. There could be restructuring of the company’s businesses. This could involve transferring certain related businesses to Reliance Entertainment.” After...
More About: Finance , Plans

The Anatomy of the Grey Market
2008-02-06 16:04:00
In January 2008, lakhs of investors across the country became familiar with the phrase “grey market premium”. After all, the decision to buy into the Reliance Power lPO for many investors was based on this premium. While few understand what this grey market is all about and even fewer actually trade in it, it became the sole basis of investing for lakhs of investors. Not just retail but even for smart HNIs, who borrowed money to scalp this premium on listing. The grey market thrives in cities like Ahmedabad, Rajkot, Jaipur and Delhi. While there’s nothing “official” about grey market trades, they are generally honoured and defaults, if any, are rare. So operators by the name of Kali, Muno, Jindal, Karwaji and Gulshan (possibly fictitious) will take orders of minimum lots of 500 shares and settlement is done in cash. It’s so easy for anyone to get access to this market that it baffles me why the authorities have not been able to clamp down on it. ...
More About: Finance , Anatomy , Market , Grey , Anatom

DIVINE GUIDANCE
2008-02-06 16:02:00
The recent controversy involving the Sikh clergy puts the community in the throes of yet another crisis. With the enactment of the Gurdwara Act, in 1925, the management of the historical Sikh shrines was placed in the hands of the Shiromani Gurdwara Parbandhak Committee (SGPC). In order to bring about uniformity in the Sikh way of life, the SGPC approved the Rehat Maryada (guide) in 1945. The Maryada stated that the four seats of religious authority were the Akal Takht in Amritsar, Patna Sahib in Patna (Bihar), Kesgarh Sahib in Anandpur and Hazur Sahib in Nanded (Maharashtra). Damdama Sahib near Bathinda was also given the recognition of a Takht in 1962.   The Maryada also stated that all decisions regarding the fundamental principles of the faith and affecting the whole community called the Gurmattas (decisions on religious of re-issues) would be binding upon all Sikhs. It of also held that appeals against all decisions could be made to the Akal Takht. But public spat and squabblin...
More About: Divine , Religions

CREDIT POLICY: CAUTION PLUS HOPE
2008-02-06 15:56:00
Like a good batsman who keeps an eye on the field positions, Yaga Venugopal Reddy played a defensive stroke; avoiding a tit-for-tat interest rate cut after the US Fed slashed its benchmark rate by 0.75 percentage points last week. With his eyes on domestic monetary and economic developments, particularly an inflation rate which has not yet ,absorbed high global oil prices, he kept both interest rates and cash ratios unchanged. In that masterly inaction, he left room for future cuts as well as sufficient liquidity for businesses to take loans and pursue growth.   He left it to cash-flush commercial banks to play their own game in cutting rates. RBI has kept its target of containing headline inflation rate based on wholesale prices below 5 per cent, and seeing a moderated growth to 8.5 per cent, it decided to watch global uncertainties pan out. “In balancing between growth and price stability, we are reinforcing the stance on price stability as growth is on the expected lines,&#...
More About: Finance , Credit , Policy , Hope

BHABHA?S DREAM: A REALITY
2008-02-06 15:53:00
Scientists and engineers in the Heavy Water Board (HWB), Department of Atomic Energy (DAE) have every reason to be proud. They fulfilled the dreams of Dr. Homi Bhabha whose death anniversary was on January 24. The Board exported heavy water to South Korea seven times and once to China. Last year, HWB supplied 4,400 kg of high quality, nuclear grade heavy water to Spectra Gases Inc. USA. HWB is emerging as a major exporter of this commercially important strategic material.   A peep into history is in order. In a note on the organisation of atomic energy research in India, sent to Jawaharlal Nehru on April 26, 1948, Dr Homi Bhabha wanted that the government “should explore immediately the possibility of utilizing the cheap hydroelectric power in India for manufacturing heavy water on the one hand to our own requirements in a pile and on the other for sale to other countries”. He desired that the government should come to an agreement with the Governments or atomic energy ...
More About: Culture , Reality , Dream , Indian History

Getting back to the basics
2008-02-05 15:49:00
Even as the market seeks direction following its recent sell-off, some interesting trends are flashing on the screen. It may be premature to conclude much from the pattern of a few days but the initial signs may be telling us something. In the last few sessions, there is clear buying interest in sectors that were considered “unexciting” in 2007. It may be the first indication that 2008 may herald the return of the good old steady-state businesses. The year 2007 was about dreams. Dreams are so much more exciting than going through the mundane routine of everyday life. Last year was thus a year of excitement till people got carried away and burnt their fingers. So, this year, investors appear a bit shy of ascribing crazy valuations to dreams and announcements and seem more intent on getting back on the straight and narrow. Steady 20 per cent earnings growth, robust cash-flows, high return ratios, quarter after quarter of growth delivery- all things which seemed staid and ...
More About: Finance , Back , Basics , The Basics

RETAIL INVESTERS; CATCH 22
2008-02-05 13:49:00
Fist they ran to sell; now they can’t buy easily. Despite the recovery in equity markets after a seven-session long fall, retail investors remain a worried lot. While many witnessed wealth made over years washout at the blink of an eyelid, a lot of them who missed the four-year long bull run are still notable to buy stocks after the falling Sensex offered what many believe to be a buying opportunity.  According to market participants, despite the bounce back from the recent fall, 1000-odd brokers’ terminals remained closed because they had not paid additional margins to the stock exchanges. Investors and brokers need to pay up additional money; called margins, to compensate for the decline in the prices of partly paid-for stocks.  Amid weak global cues, domestic equities ended a highly volatile session in the red. Mumbai’s 30 share Sensex, which had lost 918 points about 5 per cent - in intra-day trade, staged a smart recovery to end at 18,152 points (down by 208 ...
More About: Culture , Retail , Catch 22 , Catch