Weekly Wrap-up: Sensex tanks 868 points in the week

Weekly Wrap-up: Sensex tanks 868 points in the week

The market plunged into the negative for the first time in 3 weeks after some highly volatile sessions of trading. As the US subprime lending problems continued to swell, Asian markets reacted accordingly and big bouts of profit booking were seen in the pivotal stocks at the BSE and NSE. Also, in December, historically not being a very good month for the markets, traders chose to book profits and cut down their long positions before entering into the fresh week. The 30-share BSE Sensex declined 868.26 points to 19,162.57 in the week ended Dec. 21 2007 while the 50-share NSE Nifty slipped 281.70 points to 5,766.50 in the week.

On Monday (December 17), the Sensex opened weak at 20,032.67 on back of negative global cues. It continued to trade weak throughout the day due to heavy selling pressure in pivotal stocks. Intense profit booking was witnessed across board. The Sensex fell to an intraday low of 19,177.19, its second biggest single day fall. The Sensex ended down 769.48 points, or 3.84%, at 19,261.35, while the broad-based NSE Nifty closed at 5,777.00, down 270.7 points, or 4.48%. It was the biggest single day fall for the Nifty.

On Tuesday (December 18), the market opened on a quiet note. It continued to trade in the positive for sometime and after touching an intraday high of 19,375.07, slipped into the negative terrain on weak cues from global counterparts. The benchmark, Sensex continued to trade in a volatile manner initially; however in the last lap of trade the market witnessed huge fall on back of strong selling pressure across the board. The market lost around 252 points to touch the day`s low of 19,009.35 but made some recovery in the last minutes of trade.BSE Sensex declined 181.71 points, or 0.94%, to close at 19,079.64, while the broad-based NSE Nifty closed at 5,742.30.00, down 34.7 points, or 0.60%.

On Wednesday (December 19), the 30-share index, opened on a strong note. The opening was backed by positive global cues with most of the Asian markets opening in the positive. Within moments of the opening bell, the Sensex proceeded to a 300 points gain. Until mid day the index seemed to be in a consolidation mood. However, in the later half of the day the index slipped into the negative backed by heavy selling interest in the pivotal stocks. The index came off 453 points from its day`s high. The last hour saw some relief rally, the index managed to regain some ground and ended the day on a flat note. The BSE Sensex ended at 19,091.96, up 12.23 points while the NSE Nifty closed at 5,751.15, up 7.85 points.

On Thursday (December 20), the Sensex opened on a strong note with a positive gap of 109 points from the previous close of 19,091.96. BSE Benchmark Index continued to trade in positive terrain and soon after opening it touched intraday high of 19,291.14 (up nearly 200 points) due to the strong buying in all the sectors especially in IT, Auto and Metal space. However Sensex was not able to maintain the same level and in the following sessions it traded in a range bound manner and finally ended with a gain of 70.61 points.BSE Sensex gained 70.61 points, or 0.37%, to close at 19,162.57, while the broad-based NSE Nifty closed at 5,766.00, up 15.35 points, or 0.27%.

On Friday (December 21), the market remained closed on account of Bakrra Eid.

Companies In News

Reliance Communications (RCom) completed the Rs 12 billion-worth acquisition of US-based Yipes Holdings. The acquisition will give the company access to Rs 4,000 billion global enterprise data market. RCom received all necessary approvals from the US Federal Communications Commission (FCC) for the transfer of control of Yipes.

The board of directors of Deccan Aviation, which met on Dec. 19, 2007, decided to merge the scheduled airline business undertaking of Kingfisher Airlines with itself. The merged entity will be known as Kingfisher Airlines. Vijay Mallya will be the chairman and CEO, while Captain Gopinath will be the vice-chairman of the merged entity. The charter business of the company will be spun off into a separate entity to be jointly owned by Captain Gopinath and the UB Group.

Welspun India, a part of the USD 1.5 billion Welspun Group and amongst the top 4 terry towel manufacturing companies in the world, has acquired 76% interest in bath rug major in Portugal, Sorema - Tapates e Cortinas de Banho, SA (Sorema) for Rs 456 million.

The Tata Group will be soon declared as the winner of Ford`s, Jaguar and Land Rover brands. However, a final decision may come in the first week of the New Year, as per international media reports. It is said that the deal is valued at USD 2.05 billion. Mahindra & Mahindra and private equity firms One Equity Partners were the other bidders for the two luxury brands.

Bharat Heavy Electricals (BHEL) inked a joint venture agreement with NTPC on Dec. 17, 2007 for establishment and operation of joint venture company for taking up engineering, procurement & construction (EPC) business.

Sector Round-up

Four GSM mobile operators, Bharti Airtel, Vodafone, Idea and Spice will approach the Delhi High Court against the Telecom tribunal TDSAT`s interim order not to stay the spectrum allocation process. GSM lobby Cellular Operators Association of India (COAI) said in a statement, that the department of telecom`s (DoT) decision is an attempt to pass off second and new GSM licences to CDMA operators in the garb of dual technology allocation. The centre, on Thursday (December 20) said that it would look into cartelisation of the cement industry after the anti-monopoly watchdog MRTPC pronouncing 44 manufacturers guilty of unfair trade practices. MRTPC held cement manufacturers including L&T Cement, Birla Cement, Grasim and ACC guilty of cartelisation under the aegis of Cement Manufacturers` Association. The Commission said that they had found direct as well as indirect evidence of concert.

Economic Developments

The National Development Council (NDC) approved the 11th Five-Year Plan that aims at sustaining a 9% economic growth. The five-year plan (2007-12) was approved by the NDC, the highest policy making body comprising the centre and the states, amid demands by the chief ministers for greater flow of funds to states for tackling the regional imbalances. Prime minister Manmohan Singh cautioned against the price pressures on food items and the adverse impact of global financial crisis on the economy. Attaching highest priority to agriculture, education and health, the Plan earmarks more than half of the budgetary support toward these areas. The total outlay for the plan is Rs 36,447.18 billion, of which budgetary support would be Rs 14,217.11 billion.India`s wholesale price index (WPI) based Inflation moved to 3.65% for the week ended December 08, as against 3.75% in the previous week. Lower prices of food articles like fruits and vegetables, pulses and some manufactured items led the inflation to slowdown. The annual rate of inflation stood at 5.63% as on Dec. 09, 2006.

New Listing

Shares of leading FMCG player, Jyothy Laboratories after listing on bourses, settled with 13.04% premium on the NSE. The shares opened at a premium of Rs 205, or 29.71%, at Rs 895 as compared with the issue price of Rs 690 a share. It touched a high of Rs 895 and a low of Rs 741.15. It finally closed with a premium of Rs 90, or 13.04% at Rs 780. Total volume of shares traded was 5,136,540, while the total turnover was Rs 4,061.62 million.

The week ahead

Giving his outlook for the coming week, technical analyst Vishwas Agarwal said, ``If Sensex maintains 18,888, then the market looks good and in trading zone; above 19,350 more profitable trading is possible with a possible target of 19,888.`` He added, ``The course of the market will be decided by RIL and SBI, so its very important to watch these two stocks...January is a result session which will help in deciding the market move. Also the Gujarat election result is due which will also give some direction to the market. We can see some upside of 10-15% in the Gujarat based stocks if BJP wins this election.``


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Economic Times Stories

http://economictimes.indiatimes.com/

5 megatrends of the new software order
Tatas' Corus takeover steals the thunder in 2007

Entertainment companies bet on regional language
Spiritual Explorer: NRIs order pujas online
Insurers want 4 years grace to carry forward losses
Maruti ready to risk profit for market share
SpiceJet to fly new routes to take on competition

BRIC nations raise $131 bn from debt mkt
BPCL plans big hike in share capital
Family-run cos centralise HR, accounting functions
Kinetic Engg to raise Rs 100 cr for capex
Bank loans up 22.2 % in two weeks to Dec 7

Sugar export sops may be extended for another year till Apr 09
World Bank approves $225 mn loan to Bihar
Bulls set for another run; eye 21,250 on Sensex
Stocks you can buy: Bharti Airtel, Spicejet, iDFC
Google repairs 'Orkut' worm

What should corporate India focus on in '08?

Source: http://economictimes.indiatimes.com/headlines.cms . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Deadpresident blog Updates

http://www.deadpresident.blogspot.com


IPOs make a lot of money for investors in 2007
Cairn India / Tata Motors
Mudra Lifestyle
Zylog Systems - BUY
Jaiprakash Associates

Earnings Guide
Short selling to be allowed for all investors
Alstom Projects
Crude ends marginally lower amid volatile trade
Gold slips for another day

IDFC
Technology sector pushes US Market higher
India Retail
Bharat Electronics
Weekend Industry Trends - Dec 24 2007

Weekly Close: Holiday Mood !
Tata to unveil People's Car on Jan 10 2008
Weekly Stock Ideas
Pyramid Saimira Theatre / Titan Industries
Infosys

Sensex sheds 868 points
Turnover drops ahead of long weekend


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MoneyToday Articles (Dec 27, 2007)

Money Today
Latest Issue December 27, 2007


Cover Story
Narayan Krishnamurthy and Devangshu Datta

We revisit India's most wanted stocks and find out which are the favourite stocks of fund managers and the hottest sectors they are investing your money in.
----------------------------------------------------------------------------------
It’s a question that perplexes even the most astute investor: how does one pick a good stock?
We all know that investing in equities is the best way to create wealth. But picking the right stock is fraught with difficulties. You need to be able to separate genuinely solid companies from those that just make a lot of noise, time the market, and do this before everyone realises that the stock is a winner. Or take the easy way out. Look at what the experts are buying, mimic their portfolios, and chances are you’ll make a neat packet.

That’s why we decided to make the MONEY TODAY-Value Research ranking of India’s Most Wanted Stocks an annual event. From a universe of over 6,000 stocks, we culled out 45 that are favourites of fund managers. These rankings can be useful to mutual fund investors as well as direct investors in equity. The former can rest assured that fund managers are doing their best to generate healthy returns. And active equity investors can take a leaf out of the fund managers’ book and create similar portfolios. We take you through the hottest sectors, as well as the most popular large-, mid- and smallcap stocks. And finally, a word of caution: the most wanted stocks are not always the most rewarding, so don’t rush in with your eyes shut. Remember that it is, after all, your money and your investment.

Most wanted stocks

CLICK HERE TO VIEW THE TOP 25 LARGE CAP STOCKS

Most wanted underperformers?

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More articles:

Now & Then
Fuel proof
Here's a new section that compares prices of products and services in the past with what they are today and what they may be in the future.

Query Corner
Is a minor eligible to apply for shares in an IPO?
A minor is eligible to apply in an IPO if certain conditions are met. Firstly, he needs to have a demat account, for which he needs a PAN card. And under normal circumstances, a minor will not be issued a PAN card because he does not earn.

MT Insight
Currencies, shares and market clocks
This snapshot of the rupee's performance, stock price comparisons and details on world marhet clocks will keep you updated on the world front.
Bargain buy: Microwave
Magnum Tax Gain on top, again
Steel stocks right on top
Fuel proof

Realty Check
Thiruvananthapuram, south India's knowledge city
Kerala's capital is fast emerging as an important knowledge city of south India and is rated high among tier II cities for its improved infrastructure.

Stocks
Buying safety, selling risks
Dipen Sheth
Reinforcing beliefs in blue chips, more shares of two Sensex heavyweights are accumulated, while some underperformers are sold.
Steel stocks right on top
Market Watch, as on Dec 5, 2007


Mutual Fund
Capitalising on small caps
The MONEY TODAY-Plexus Management new fund evaluation analyses the DBS Chola Small Cap Fund and presents the report card.
'Have a systematic investment plan'
Magnum Tax Gain on top, again


Insurance
Right cover for your home
Sanjeev Sinha
Here we explain the business of householders' insurance and tell you how to protect your most valuable asset and its contents.


Tax
What is the tax treatment of profits from global funds?
Long-term gains are taxable at a flat rate of 10%, while short-term gains are added to the income and taxed as per applicable rates.

Banking
The other side of loans
Priya Kapoor
Loan recovery agents and their strong-arm tactics are bad news, but banks usually use them as a last resort. And there are rules regarding this too.

Careers
From babu to corporate honcho
Rajshree Kukreti
Prabir Jha's career focus did not waver nor did his professional plans go awry after quitting his cushy government job.

New Business
Host on the worldwide Web
Rajshree Kukreti
Founded on the rubbles of dotcom bust, i2k2 had a slow and turbulent route to success. It now seems poised to break into the big league.

Expert View
Small package big surprise
Mudar Patherya
Ignored by the stock markets in 2007, Essel Propack — the largest lamitube manufacturer in the world — has found its way out of the woods. You cannot possibly find a cheaper global play.

Powerful growth
Edelweiss Securities is very bullish on the power sector given the massive generation capacity expansion that has been planned.

MT Basics
So many interest rates
Keep as watchful an eye on interest rates as you do on prices. There are a dozen or more rates, so which should you look at? We pick out six that we believe are relevant to almost everyone.

Portfolio Doctor
Indifferent planning
Mumbai-based Anand Dangwal must inculcate financial discipline and regularly invest in equities till retirement to build a sizeable nest egg.

More: http://moneytoday.digitaltoday.in/





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Business Today Articles (Dec 30,2007)

Business Today
Latest Issue December 30, 2007


Cover Story
Do you know these guys?
You probably think you do, but don't bet on it. Surprising insights emerge from the survey about the Indian male.
Never too old to rock’n’roll / Swingin' in the south
In the grey zone

News Maker
Newsmaker: Kapil Dev

Leadership Spotlight
Growth driver

BT More
The smart dressing guide
BT More consults experts and gives you a preview of the hottest dressing trends in 2008.

Designers to watch / Gadgets of 2008
Fit as a fiddle The coolest way to be entertained at home
Yours for Rs 10 Lakh / For a few lakhs more…
Get seen here! / Going bubbly
It’s Korean and it’s hot / How to breeze through bingeing
‘Flick’ them on / The cord files
The blue waters beckon / The magical subcontinent
Les desirables

Back of the Book
Tulsi evangelists

Trends
Rupee @ 30? Oh dear!
Kapil Bajaj
As the rupee hit a near-decade high of 39.16 to the dollar on November 7 (it was at 39.49 on December 7), it is becoming clear that the Indian economy must learn to live with a stronger rupee over the medium term at least.
BSE lags other Asian markets
IT largest employer
Mobile sales reach a high
Look out for model CEOs
Net’s share of ads to grow
‘India most dynamic market’
Economy watch
Get a Miro media player for free

Money
The true cost of debt
Insure their dreams
From bitter to sweet
Do multi-caps have an edge?
The new wave of NFOs

Policy Watch China deal on

Letters Now for a cover on SSIs

Jobs Beat the Burnout blues

Current
On the Birla bandwagon
Anand Adhikari
Few can boast a career graph that’s been as meteoric and at the same time as unpredictable as that of Ajay Srinivasan. Close to a decade ago he took charge of Prudential Plc’s Indian asset management company.

Power shifts Billion-dollar dream
ABB: Awed by India Bullish on India
Will funny get the money? IFCI: Hard road ahead
“Most IT projects don’t pay” Escaping IT’s tier II
On Verizon’s horizon School for retailers
Big Bosch Staples’ diet
Shopping in Singapore Northern comfort
Bad trip

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Rediff.com Articles

Rediff.com

'Tax paid by employer is not a perk'
Software MNCs lead in hiring
MNCs in India more profitable: FM'
Insurance? Pay less from next year
Tata on top; yet Ford seeks suitors

Rising Re hammers Indian textiles
Life time super pension
Creating a fortune from scratch
Gopinath on the future of Deccan
Kingfisher-Deccan to raise $250m

Christmas shopping: Great gadget buys

-------------------------------------------
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Weekly Gainers : Rediff.com

Company Group Prev Close (Rs) Current Price (Rs) % Change
+
Rashtriya Chem&Fert. A
85.65
97.70
+ 14.07
+
Mastek Limited A
297.05
334.90
+ 12.74
+
CMC Ltd. A
1,058.00
1,187.60
+ 12.25
+
Guj. Industries A
115.80
129.90
+ 12.18
+
Gillette India Ltd.
A
1,323.20
1,439.55
+ 8.79
+
Videsh Sanchar N
A
650.80
681.35
+ 4.69
+
Ispat Industries
A
79.05
82.25
+ 4.05
+
Satyam Computer
A
411.10
427.70
+ 4.04
+
Novartis
A
373.30
386.05
+ 3.42
+
Sun Pharma.
A
1,137.10
1,174.20
+ 3.26
+
Infosys Techno.
A
1,646.80
1,698.35
+ 3.13
--------------------------------------------------------

Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Thomas Cook (I)
B1
91.20
120.65
+ 32.29
+
Allied Digital Servi
B1
582.20
742.05
+ 27.46
+
Anil Products Ltd.
B1
262.00
333.55
+ 27.31
+
Suven Life Sciences
B1
36.80
45.15
+ 22.69
+
SSI Ltd.
T
148.05
179.90
+ 21.51
+
Torrent Gujarat
T
13.76
16.70
+ 21.37
+
Maars Software I
B1
5.88
7.12
+ 21.09
+
Krishna Lifestyle Te
T
3.00
3.63
+ 21.00
+
Essar Shipping
B1
102.80
124.20
+ 20.82
+
Alka India Ltd.
T
1.06
1.27
+ 19.81
+
Pentasoft Tech.
T
2.54
3.04
+ 19.69
+
Astral Poly Technik
B1
177.35
210.95
+ 18.95
+
Swaraj Engines
B1
193.85
229.95
+ 18.62
+
Dwarikesh Sugar
B1
87.65
103.65
+ 18.25
+
Arvind Remedies
B1
4.07
4.80
+ 17.94
+
Gufic BioSciences Lt
T
16.71
19.62
+ 17.41
+
Gayatri Projects
B1
418.00
490.15
+ 17.26
+
Jenson & Nich.
T
14.53
16.82
+ 15.76
+
Sakuma Exports
B1
32.30
36.88
+ 14.18


More @ http://money.rediff.com/money/jsp/weekly_gainer.jsp



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Economic Times Stories

Single team to run Kingfisher-Deccan combine
Tatas to drive away Jag; Ford accepts $2.05 bn offer
RCom gets FCC nod for Yipes deal
SEBI opens up short-selling for all
Inflation slips but rate cut unlikely
Sarin, Nooyi among world's 20 best business leaders

Ford to announce Jaguar-Land Rover sale to Tata on Friday
Reliance Money to launch portfolio mgmt service
IFC to help microfinance firms use IT in rural areas
Nalco lines up Rs 11k cr for Indonesian project
Tatas want apology from Orient-Express Hotels
Unitech to sell stake in 3 projects for 234 mn pounds

Omaxe gets green signal for Rs 1,800 cr project
Nagarjuna bags Oman project
Tata's retail stores to top 100 by March 2010
Kingfisher-Deccan means big losses too
World Bank debars 2 firms in Indian child health project
Capital Gains: Blue-chip PSUs may pay bonus

Foreign firms eye small broking cos for big break
S&P 'BBB-' to India Infrastructure Finance Co; outlook stable
Phoenix Mills surges on stock split approval
Day after: IFC silver lining for IFCI
The future: Entrepreneurs focus on building long-term value
8 strategies of wise negotiators

Are family-run corporates living up to investor expectations and creating value?



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Myiris, Moneycontrol Business Updates

Myiris.com

Brokers` Outlook: Market to trade in a range
Precision Pipes IPO subscribed 10.35 times on closing
EIL likely to ink JV with Tecnimont SPA
Bajaj Hindusthan makes open offer to Bajaj Hindusthan Sugar
Pearl Global to foray into Infra biz

Inflation at 3.65% on low prices of primary articles, bajra,urad
Sayaji Hotels tie up with Taj Group
Pyramid Saimira & Jnanabanu launches one reel movement
Omaxe` arm gets 25 acres of land in Hyderabad
India becomes auto production hub

Almondz plans entry into MF biz
Nitin Fire in talks for strategic investment
Manaksia IPO subscribed 8.79 times on closing day
Marg Construction plans to enter housing projects
Certification mandatory for intermediaries, brokers: SEBI

Mundra Lifestyle to pump in Rs 3 bn
Bank of Japan keeps rate unchanged
Motilal Oswal PMS becomes subsidiary of MOFS
Kushagra Software mulls JV with Concurrent Infra
Amara Raja to open 500 Powerzone stores

Bajaj Electricals eyes European firms
Future Group to foray into logistics biz, earmarks Rs 4 bn
Welspun acquires 76% stake in Portugal-based Sorema
-----------------------------------------------------------
Moneycontrol.com

Will markets be in an uptrend in Jan?
What is the road ahead for IFCI?
UB Grp to fly combined entity overseas by mid-FY08
Sebi gives nod for short-selling
Tata & JLR brands can co-exist: Ratan Tata

Will mkts react to Sebi order on Monday?
'IFCI-effect' rubbed off on other stocks too
Jagson Airlines to add 8 aircrafts after getting permit
ICICI, Templeton MF buy 10.44 lakh shrs of Jyothy Labs
Reliance MF valued at Rs 10,000cr

Singapore Exchange clears DLF's REIT
Like Patels Airtemp, Mold Tek: Sharekhan AVP
IFCI band may range between Rs 65-75/sh: SP Tulsian
Thomas Cook looks good for long term



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SEBI allows short selling by institutional investors: Myiris

SEBI allows short selling by institutional investors


Stock Exchange Board of India (SEBI) decided to allow short selling by institutional investors, hitherto only retail investors were allowed to short sell.

With a view to provide a mechanism for borrowing of securities to enable settlement of securities sold short, it has also been decided to put in place a full-fledged securities lending and borrowing (SLB) scheme for all market participants in the Indian securities market.

The Stock Exchanges and the Depositories have been advised to put necessary systems in place in this regard.

According to the broad framework announced by SEBI, `Short Selling` will be defined as selling a stock that the seller does not own at the time of trade. All classes of investors, viz., retail and institutional investors, will be permitted to short sell.

Further , naked short selling will not be permitted in the Indian securities market and accordingly, all investors would be required to mandatory honour their obligation of delivering the securities at the time of settlement. No institutional investor will be allowed to do day trading i.e., square off their transactions intra-day.

Appropriate action needs to be taken against the brokers for failure to deliver securities at the time of settlement, which shall act as a sufficient deterrent against failure to deliver.To provide with necessary impetus to short sell, a scheme for Securities Lending and Borrowing (SLB) should be in place simultaneous with the introduction of short selling by institutional investors.Those securities that will be traded in F&O segment will be eligible for short selling. Also, at the time of placement of order whether the transaction is a short sale, institutional investors need to disclose upfront

However, retail investors would be permitted to make a similar disclosure by the end of the trading hours on the transaction day.

The brokers shall be mandated to collect the details on scrip-wise short sell positions, collate the data and upload it to the stock exchanges before the commencement of trading on the following trading day. The stock exchanges shall then consolidate such information and disseminate the same on their websites for the information of the public on a weekly basis.The frequency of such disclosure may be reviewed from time to time with


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Tatas, worlds 3rd most transparent co : Rediff.com

Tatas, world's 3rd most transparent co

Tata Group, easily India's most respected business house, has been named the world's third most accountable and transparent company by Britain's One World Trust although US hotel chain Orient-Express has not found it worthy of an alliance.According to Rob Lloyd, the report's lead author, the assessment is a measure of the extent to which organisations have the policies and systems in place to enhance consistent and coherent accountability to the people they affect."The report ranked GE and GlaxoSmithKline [Get Quote] number one and two most transparent and accountable companies.Tata Group, was however, considered ahead of Coca-Cola, Petrobras, HSBC Holdings, PriceWaterCooopers International and Google, when measured on the parameters of transparency and accountable leadership among global companies.

More on the above @ Tatas, world's 3rd most transparent co


Other Rediff stories:

Business highlights 2007
Sebi gives nod for short selling
Orient Express: Tatas seek apology
Careers: Are you ready for the 21st century?

MCA: Opening doors for a global career in IT
Sabarimala, Kumbh: World's top holy spots
Career change: Why they chose to do an MBA



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Sarin, Nooyi among worlds 20 best biz leaders : Sify

Sarin, Nooyi among world's best biz leaders

Reaffirming the now unmistakable presence of Indians in the World Inc, two multinationals PepsiCo and Vodafone, which are headed by people of Indian origin, have found a place in a list of the world's 20 best companies for leaders.

While Chennai-born Indra Nooyi is the Chairman and CEO of soft drink major PepsiCo, Arun Sarin, who hails from Madhya Pradesh, is the CEO of the world's second largest mobile operator Vodafone.

Vodafone debuted at 20th rank in this year's list, prepared by consulting firm Hay Group and Chief Executive Magazine. PepsiCo is down to 7th position from its third rank last year.
In the 2006 list, Citigroup, now headed by another Indian origin banker Vikram Pandit, was ranked at fourth. However, it does not find a place in this year's list. Nagpur-born Pandit was named as the CEO of Citigroup earlier this month, after his predecessor Charles Price stepped down last month.

American conglomerate General Electric (GE) has topped the list for the second year in a row, while Procter & Gamble has retained its second position this year.

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The maximum number of companies are from the US (11), while eight are from Europe and one from Asia. There is not a single Indian company on the list. The annual survey considered a total 790 companies, that included 47.1 per cent headquartered in Europe, 31.2 per cent in North America, 15 per cent in Asia-Pacific, and the rest in Middle-East, Africa and South and Central America.

GE and P&G are followed by Johnson and Johnson, Unilever and Coca-Cola in the top five. Others are Siemens (6), L'Oreal (8), Toyota (9), HP (10), GlaxoSmithKline (11), Novartis (12), Pfizer (13), HSBC (14), 3M Co (15), Eli Lily (16), BASF (17), McDonald's (18) and Amgen (19).


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Indias richie rich : Sify.com

India’s richie rich!

India Inc has a new breed of billionaires this year. Find out the new faces and how they made it to the elite list.

Soaring stock markets and skyrocketing property prices are paving way for a new breed of Indians - the billionaire businessmen! The country is the home of about 54 billionaires as on date (as per Forbes.com), whose collective networth has doubled compared to last year and has touched $351 billion.This is second highest number in Asia after China. It's not just the game of Ambanis any more. New entrants like K.P Singh, GautamAdani and others have also joined the richie rich league, thanks to the soaring Sensex!

Here's a compilation of the country's richest men.

Links: Start and elite list.



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Sensex ends 71 pts up : Sify Finance

Sensex ends 71 pts up
Sensex gains 71 pts amid FII pullout
Sensex ends up 71pts; IFCI drops 23%

NSE 5766.50 15.35

BSE 19162.57 70.61

Information technology stocks opened on a bright note and stayed firm right till the end even as stocks from other sectors had a choppy outing as investors appeared highly reluctant to carry home positions ahead of a long weekend. The somewhat subdued trend in global markets also appeared to have forced the participants on to a slightly defensive approach today.

The Sensex, which opened with a positive gap of nearly 120 points at 19,210.22, hit a high of 19,291.14 in intra-day trades and settled at 19,162.57 with a gain of 70.61 points or 0.375. The Nifty ended with a gain of 0.27% or 15.35 points at 5766.50, well down from a high of 5799.50 it had touched in afternoon trade.

While the BSE IT index ended stronger by 3.34%, the Teck index, which has software, media and telecom stocks in its fold, moved up by around 1.5%. The Capital Goods and FMCG indices declined sharply. PSU, Power, Oil & Gas, Bankex, CD and HC indices also ended in the negative territory.

A number of midcap and smallcap stocks went down on sustained selling in afternoon trade.
Satyam Computer Services, which moved up by nearly 6%, was the biggest gainer in the Sensex today. Infosys Technologies, contributing significantly to the market's positive close, gained 3.7%. Tata Consultancy Services surged 2.35% while Wipro, which remained somewhat subdued for a better part of the day, ended with a sharp gain of 1.8%.

Power stock Reliance Energy gained more than 3%. Automobile major Tata Motors rallied 2.9% to Rs 824.80. Mahindra & Mahindra advanced by a little over a percent. Realty stock DLF gained 1.1%.
Bajaj Auto, Bharti Airtel, ONGC, State Bank of India and Reliance Industries finished with modest gains while Hindustan Unilever, Hindalco and Tata Steel edged up marginally.
ACC (down 2.75%), Cipla (down 2%), ITC (down 1.65%), Ranbaxy Laboratories (down 1.65%) and BHEL (down 1.3%) closed with sharp losses. Grasim Industries, HDFC, Reliance Communications and HDFC Bank eased by 0.5% - 1%. Larsen & Toubro, ICICI Bank and Maruti Suzuki also ended weak. Ambuja Cements and NTPC ended almost unchanged from their previous closing levels.
Dr. Reddy's Laboratories, HCL Technologies, Sun Pharmaceuticals, Cairn India, BPCL, SAIL and Tata Power were among the major gainers from the Nifty. GlaxoSmithKline Pharma ended with a sharp loss of 5.6%. VSNL, a big gainer yesterday, lost 4.65% on profit taking. Suzlon Energy, ABB, Zee Entertainment, Hero Honda, GAIL India, Reliance Petroleum and Nalco also closed with sharp losses.

IFCI plunged sharply and ended lower by 23.25% at Rs 76.85 on sustained selling today. The stock got hammered due to the company calling off its stake sale plan after talks with the Sterlite-Morgan Stanley combine ended in disagreements over the price and management control.

IFCI opened at Rs 98 - it remained its high for the day - and hit a low of Rs 71.05 before settling for the day at Rs 76.85 with a big loss. On the National Stock Exchange, the IFCI counter recorded a turnover of Rs 1104.75 crore on a volume of around 143 million shares.
The market breadth, which remained positive till around mid afternoon, turned negative as the session progressed. Out of 2950 stocks traded on BSE today, 1755 stocks closed with losses. 1164 stocks finished on a positive note and 31 stocks ended at their previous closing levels.

Other Sify Stories:

VSNL to link Europe thru TGN cable
Nagarjuna Construction secures Rs 307 cr order
Vodafone ties up with Indian Posts for mobile payment
PSL bags Rs 125 cr worth contract
‘India grows fastest in ECB sales during Q3 2007’

Boeing signs 10-year deal with HAL
Shares of Deccan, UB Holdings surge on merger
IPOs: Flavour of the season for India Inc
Indian viewers need regulation of media content: Dasmunsi
Religare ties up with Bank of Rajasthan

Jaguar-Rover: Another New Year gift for Tatas?
Kingfisher Airlines, Deccan decide to merge



Source: http://www.sify.com/finance . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

The Economic Times Corporate Stories

http://economictimes.indiatimes.com/

India seeks 10 pc growth but economy not immune: PM
Trust bulls to stay in hunt for small-caps
From grocer, Reliance plans shift to supply
Jyothy Labs shares close at Rs 780
Shyam Telecom surges 10%

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M&As were toast of season for India Inc in 2007
Indian CEOs more hierarchical than Americans: Study
Fitch assigns 'F1(ind)' rating to Omax Autos
Tata Motors to display Rs 1 lakh car next month
Suzlon takes the QIP route to raise Rs 2,183 cr
Agilent bags order from Orchid Chem

RIL, Tata Chem in talks for KG basin gas sale
Gujarat Fluorochem to form JV with Chinese Firm
Shringar Cinemas unit in deal with HDIL
Russia's Sistema to invest $1 bn in Shyam Tele
11th Five Year Plan gets final approval
Australian co may buy controlling stake in Sharepro

Investors hitch a ride with high-flying holding cos
Jyothy Laboratories lists at 30% premium
Vakrangee Softwares gets 25-bn-rupee orders
US stocks rise after ECB move
JM Financial mutual plans 11-stock fund
You can retire in 10 yrs, conditions apply

International Business:


Oracle Q2 profit soars 35%
RBS eyeing stake in Chinese trust co: Report
Lehman sees Japanbs nominal GDP growth to remain subdued FY08
India sees 10% growth by 2012, subprime a risk
Thailand's economy desperately seeking stability
JGBs surge, focus on BOJ's economic assessment

Malaysia's UEM Land in pact with Dubai World unit
Darling plans emergency bank rescue package
Finland's Suomi to sell unit to Vienna Insurance
Viacom, Microsoft sign advertising, content deal
Japanese steel cos bolster defences against takeovers

Morgan Stanley posts first-ever loss
UK works on swift rescue plans for banks in trouble
Fed steps in to protect home loan borrowers

Japan's economy to grow faster next year: Govt
Intuit iPhone-friendly Quicken priced at $3/month
DoCoMo chief meets Apple's Jobs amid iPhone rumours
New oil and gas fields in Asia-Australia's Kipper to start 2011

Nippon Steel, Sumitomo, Kobe to boost capital ties
Norddeutsche 2006/07 profit up, sees weaker 2007/08
CSM sells US QA Products unit to Kerry Group
TomTom shares up on optimism on U.S. market
JP Morgan cuts Goldman Sachs CDS ratings to neutral
Morgan Stanley posts loss, China fund buys stake
Arcelor to boost ore self-sufficiency

Uncertainty, not stagflation is the big risk
IMF chief sees no deep market crisis
German carmakers see red over Europebs new emission norms
Daimler CEO open to takeover-led growth



Source: http://economictimes.indiatimes.com/headlines.cms . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

VC, PE updates from VCCircle.com, Indiape.com

VCCircle.com

Lightspeed To Look At Non-Tech Businesses Too In India
Indiareit Fund Advisors Picks Up A 75% Stake In Hyderabad’s Amsri Group Project
IDG Ventures Invests In 3D Tech Company Incubated At Stanford, IISc
ICICI Venture, CVCI May Reportedly Pull Out Of Dr Reddy’s Perlecan Pharma

IFCI Venture Capital Plans €50 million Fund For Carbon Credit Sector; Needs Partner
Tech VC Firm Techfarm Ventures Buys Out Hyderabad’s IChip Technologies
CVCI’s “Pipeline”: Invests Additional $125 Million In JBF Industries
Boutique I-Banks No More Boutique; Avendus To Enter NBFC Biz

ACK Media Acquires Bangalore’s Quite Men Studios; To Acquire Career, Community Portals
Wadhawan Food Retail Plans IPO In 12 To 18 Months
Shapoorji Pallonji Sells 15% In Real Estate SPV To GIC, CVCI For $290M: Report
Media Focused Fund ComVentures Merges With Velocity Investment Group

Burrill Raising India Focused Life Sciences Fund Of $150-200M By Q1 ‘08
Pramath Sinha’s 9.9 Mediaworx Acquires Jasubhai Digital Media
Jai Balaji Industries Raises Rs 273 Crore From CVCI, India Equity Partners
Yash Birla Group Mulls IPO For Auto Component Businesses

Merrill Lynch International Buys 12.74% Stake In Resurgere Mines
FXLabs Acquires Sashi Chimala’s Online Gaming Company Knibble.com For $3M
Kubera Invests $17 Million In Ocimum Biosolutions; To Fund Gene Logic Buy
GBN Buys New Vernon’s 10% Stake In Jagran TV For Rs 20 Crore

M&A Round Up: Phoenix Lamps; Aegis BPO; India Glycols
B Seenaiah Raises $38.5M From L&T, IDFC, Lehman, Amansa Capital
Trichy’s Cethar Vessels To Raise $100M From PE Firms
Ford May Choose Tatas As Preferred Bidder For Jaguar, Land Rover

Yatra Capital’s Mid-Sized Property Safari; Latest Is €20M In Batanagar IT Project
ICICI Venture Exits Miditech In Favour Of Turner International
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Indiape.com

India Glycols acquires Shakumbari Sugar
PE funds ready to bite into Monginis Foods
L&T, IDFC, Lehman buy 7% in B Seenaiah
End in sight for private equity's unfettered freedom


Source: http://www.vccircle.com and www.indiape.com thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Moneycontrol, Myiris Stories

Moneycontrol.com

Mkts may see good rally before Budget: Motilal Oswal
Investors are favourable on textiles, sugar: PINC
SBI MF is wary of aviation, cautious on IT
`Deccan Aviation has target of Rs 350-35...
Lot of action in midcap segment
India Inc raises $2 bn via QIPs last fortnight

GDP growth may go upto 10% in 5 yrs: PM
No RBI rate cut seen in Jan: Goldman Sachs
Earmarked Rs 1k cr for SEZ plans: GMR Infra
Fin, steel, cement stocks to be key wealth creator...
Fed creates new loans to govern subprime lending
Simplex Infrastructures raises Rs 400cr through QIP
GBN approves stock split, stock up
These gems will make your mouth water
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Myiris.Com

HCC JV bags Rs 2.97 bn DMRC order
PM says growth rate to rise 10%
L&T secures Rs 2.87 bn order from MMRDA
Jyothy Lab closes with 13.04% premium on NSE

Welspun acquires 76% stake in Portugal-based Sorema
Nicholas Piramal forms JV with ARKRAY, Japan
Shringar Cinemas` arm ties up with HDIL
Gujarat Fluorochemicals board approves stock split
Triveni Engineering to raise Rs 2.5 bn

Vakrangee Softwares bags orders worth Rs 25 bn
Emkay recommends a `BUY` on GMR Infrastructure
RCF plans to develop commercial complex in Mumbai
BPCL likely to tie-up with Nippon Oil
Jindal Power to invest over Rs 50 bn in Chhattisgarh

Power Grid to enter entertainment biz
GTL Infra earmarks USD 600 mn outlay per annum


Source: http://www.moneycontrol.com and www.myiris.com.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.