http://www.thehindubusinessline.com/iw/index.htm
TECHNICAL ANALYSIS: Index OutlookSentiment on Indian bourses seesawed between hope and despair last week. The strong mid-week surge caused by crude oil’s decline below $110 was thwarted by the global wave of selling in equities that seeped into the Indian stock markets, ...
AUTOMOBILES: Automobiles: Working on a better product mixThe pause in demand due to high interest rates coupled with rising input costs have battered the auto sector in recent times. Raw material costs for five majors — Tata Motors, Ashok Leyland, Mahindra and Mahindra, Maruti Suzuki and ...
ENGINEERING: Capital goods: New moves on procurementCapital goods companies have begun to feel the heat from spiralling commodity prices. The average operating profit margins of companies in this space have fallen a good two percentage points, to about 16 per cent, in the June quarter. Raw ...
REAL ESTATE & CONSTRUCTION: Infrastructure: The escalation clauses start kicking inEfforts by infrastructure and construction companies to protect margins have revolved around attempts to pass on raw material price hikes to clients. Steel, cement, bitumen and diesel can account for as much as 60-65 per cent of the total ...
STOCKS: SAIL: BuyInvestors can consider buying the SAIL India stock, now trading at a price-earnings multiple of about 8.2 times its 2007-08 earnings. The valuation is at a discount compared to Tata Steel (9.4 times) and global steel majors. SAIL’s ...
MUTUAL FUNDS: Tata Equity P/E Fund: InvestInvestments can be considered in Tata Equity P/E Fund based on its improved performance over the past two years. The fund underperformed the benchmark Sensex by a significant margin in 2006, thus impacting its last three-year performance. ...
MUTUAL FUNDS: Sundaram BNP Paribas Select Midcap Fund: HoldInvestors can continue to hold the units of Sundaram BNP Paribas Select Midcap Fund (Sundaram Midcap), considering its long-term track record in generating returns. The fund has delivered an annual return of 42.1 per cent over a five-year ...
TECHNICAL ANALYSIS: Query Corner: What the charts sayPlease let me have your views on Ashok Leyland bought at Rs 56 and Jayaswal Neco purchased at Rs 81. Chandra ...
STOCKS: PSL: BuyInvestments with a long-term perspective can be considered in the stock of PSL, which is the country’s largest manufacturer of high grade helical pipes. ...
STOCK MARKETS: Bull's EyeE-mail your response by Tuesday to STOCK MARKETS: Baskets of XE-mail your guess before Tuesday to: TECHNICAL ANALYSIS: Tata SteelTata Steel moved listlessly between Rs 580 and Rs 600 in the early part of the week before recording a new closing low for 2008 on Friday. ...
TECHNICAL ANALYSIS:
Reliance Infra (September 07, 2008)
Unitech (September 07, 2008)
Infosys (September 07, 2008)
Tata Steel (September 07, 2008)
SBI (September 07, 2008)
Reliance (September 07, 2008)
Tech School: Descending triangles (September 07, 2008)
Index Outlook (September 07, 2008)
Query Corner: What the charts say (September 07, 2008
STOCKS: Everest Kanto Cylinders: BuyFresh investments can be considered in the stock of Everest Kanto Cylinders, a leading manufacturer of high-pressure CNG (compressed natural gas) and industrial cylinders. At the current market price of Rs 288, the stock trades at about 14 ...
STOCKS: Bank of Baroda: HoldBank of Baroda (BoB) shareholders can consider staying invested in the stock at the current price of Rs 294.65. The stock trades at 1.13 times the company’s 2007-08 book value and 7.5 times the earnings, translating into 0.93 times ...
DERIVATIVES MARKETS: Nifty future may drift lowerMarkets seem to have lost their momentum midway. After witnessing wild swings intra-week, the Nifty September future finished marginally lower at 4352.2 points against the previous week’s close of 4370.55, shedding little over 0.4 per ...
STOCK MARKETS: Beta exposure: Is direct investment better than index funds?Readers may be aware of the core-satellite approach to portfolio management. This involves constructing a core portfolio for the beta (market) exposure and a satellite portfolio for the alpha (excess) returns. There were couple of interesting ...
Source:BL
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07 September 2008
Indo-US N-Deal: India gets NSG waiver
India powers its way into nuke biz
India on Saturday powered its way into the global nuclear fold after the Nuclear Suppliers’ Group (NSG) rewrote its guidelines for resuming nuclear trade with New Delhi. The decision to admit India came after three days of intense diplomacy by the US in the nuclear cartel that controls the global flow of nuclear fuel and technologies. ( Watch ) The NSG’s acceptance of the US proposal to drop the ban on nuclear trade will now put the Indo-US nuclear deal on the fast track. The deal will now go to the US Congress for up-down approval before it adjourns in end September for elections. Having failed to use its proxies effectively, China had come out in the open with its opposition to the deal. In a bid to prevent China hijacking the proceedings, US President George Bush wrote a letter to Chinese President Hu Jintao asking Beijing to support the India waiver. But the real opposition came from the non-proliferation ideologues — the Netherlands, Norway, Switzerland, Ireland, Austria and New Zealand — who were persuaded one by one until Austria remained the last country standing against the waiver. The last minute changes to the draft combined with the softening of position of others finally wore down Austria’s resistance. Austria had been asking for auxiliary measures to be added in the draft. “There is a sense of relief. I am particularly happy that the waiver (for India) meets with international nuclear non-proliferation architecture,” reports from Vienna quoting Peter Launsky, Austrian foreign ministry spokesman said.
Domestically, the development is a major shot in the arm for the UPA government and Prime Minister Manmohan Singh as the nuclear deal will give it a constructive issue to run on between now and 2009 election. While the BJP has been engaged in fierce finger-pointing and blame-casting over the agreement, the hypersensitive people with overactive imagination in the Left have been concocting nightmares. A setback on the waiver would have complicated matters for both the ruling side and the prime minister. Calling the waiver “a forward-looking and momentous decision,’’ the Prime Minister thanked the US and members of the NSG for granting the waiver “It is a recognition of India’s impeccable non-proliferation credentials and its status as a state with advanced nuclear technology,’’ Mr Singh said. US President George Bush praised the leadership of the PM and appreciated the way he handled the negotiations. President Bush placed a call to Mr Singh soon after the waiver was announced in Vienna. The two leaders also discussed the next step of getting congressional approval for the 123 agreement. External affairs minister Pranab Mukherjee, who has played pivotal role in the domestic battle on the deal, said that the waiver was consistent with the commitments given by the government to Parliament. ( Watch )
-----------------------------------
Other Related stories:
Sonia leads Cong 'victory charge'
Scientists hail waiver in Vienna
India to thank New Zealand for NSG support next week
India Inc sees $40 bn foreign investment
NSG waiver to India will boost power industry: NPCIL
Industry hails NSG waiver, seeks opening up nuke energy
NSG passes India waiver by consensus
Indo-US N-Deal: India gets NSG waiver
The nuclear effect: PM hails NSG waiver
Indian Americans satisfied with NSG waiver, hopeful of
Former NSA Brajesh Mishra welcomes NSG waiver
Chronology of key developments in Indo-US nuclear deal
Rice presses US Congress to OK India nuclear deal
After NSG waiver, nuke deal goes to US Congress
NSG waiver, a big deal for Manmohan
Do you think the nuclear deal will take care of India's energy security problem?
What does it mean for pvt sector?
India crosses a nuclear hurdle with NSG waiver
FIIs turning positive on Indian markets
Nuclear deal through with NSG waiver
Indian engineering firms see big opportunity in NSG waiver
Markets likely to bounce back
Nifty upside cap likely at 4,500
NSG waiver important for global energy security: Pranab Mukherjee
Wkly Tech Analysis: Markets likely to bounce back
Soirce:ET, BL, BS
India on Saturday powered its way into the global nuclear fold after the Nuclear Suppliers’ Group (NSG) rewrote its guidelines for resuming nuclear trade with New Delhi. The decision to admit India came after three days of intense diplomacy by the US in the nuclear cartel that controls the global flow of nuclear fuel and technologies. ( Watch ) The NSG’s acceptance of the US proposal to drop the ban on nuclear trade will now put the Indo-US nuclear deal on the fast track. The deal will now go to the US Congress for up-down approval before it adjourns in end September for elections. Having failed to use its proxies effectively, China had come out in the open with its opposition to the deal. In a bid to prevent China hijacking the proceedings, US President George Bush wrote a letter to Chinese President Hu Jintao asking Beijing to support the India waiver. But the real opposition came from the non-proliferation ideologues — the Netherlands, Norway, Switzerland, Ireland, Austria and New Zealand — who were persuaded one by one until Austria remained the last country standing against the waiver. The last minute changes to the draft combined with the softening of position of others finally wore down Austria’s resistance. Austria had been asking for auxiliary measures to be added in the draft. “There is a sense of relief. I am particularly happy that the waiver (for India) meets with international nuclear non-proliferation architecture,” reports from Vienna quoting Peter Launsky, Austrian foreign ministry spokesman said.
Domestically, the development is a major shot in the arm for the UPA government and Prime Minister Manmohan Singh as the nuclear deal will give it a constructive issue to run on between now and 2009 election. While the BJP has been engaged in fierce finger-pointing and blame-casting over the agreement, the hypersensitive people with overactive imagination in the Left have been concocting nightmares. A setback on the waiver would have complicated matters for both the ruling side and the prime minister. Calling the waiver “a forward-looking and momentous decision,’’ the Prime Minister thanked the US and members of the NSG for granting the waiver “It is a recognition of India’s impeccable non-proliferation credentials and its status as a state with advanced nuclear technology,’’ Mr Singh said. US President George Bush praised the leadership of the PM and appreciated the way he handled the negotiations. President Bush placed a call to Mr Singh soon after the waiver was announced in Vienna. The two leaders also discussed the next step of getting congressional approval for the 123 agreement. External affairs minister Pranab Mukherjee, who has played pivotal role in the domestic battle on the deal, said that the waiver was consistent with the commitments given by the government to Parliament. ( Watch )
-----------------------------------
Other Related stories:
Sonia leads Cong 'victory charge'
Scientists hail waiver in Vienna
India to thank New Zealand for NSG support next week
India Inc sees $40 bn foreign investment
NSG waiver to India will boost power industry: NPCIL
Industry hails NSG waiver, seeks opening up nuke energy
NSG passes India waiver by consensus
Indo-US N-Deal: India gets NSG waiver
The nuclear effect: PM hails NSG waiver
Indian Americans satisfied with NSG waiver, hopeful of
Former NSA Brajesh Mishra welcomes NSG waiver
Chronology of key developments in Indo-US nuclear deal
Rice presses US Congress to OK India nuclear deal
After NSG waiver, nuke deal goes to US Congress
NSG waiver, a big deal for Manmohan
Do you think the nuclear deal will take care of India's energy security problem?
What does it mean for pvt sector?
India crosses a nuclear hurdle with NSG waiver
FIIs turning positive on Indian markets
Nuclear deal through with NSG waiver
Indian engineering firms see big opportunity in NSG waiver
Markets likely to bounce back
Nifty upside cap likely at 4,500
NSG waiver important for global energy security: Pranab Mukherjee
Wkly Tech Analysis: Markets likely to bounce back
Soirce:ET, BL, BS
06 September 2008
Headlines today
Weekly Gainers: Group A, Group B, NSE
Weekly Losers: Group A, Group B, NSE
------------------------------------------------
Singur talks to resume today
Fresh round of NSG talks to take place today
SEBI to let select investors hold up to 15% in bourses
RBI Termed Pay Increase As Burden On Economy
LIC has to cut >10% stakes prospectively: Irda
Coal shortage to continue
Tata Steel to pay 20% annual bonus
Sebi can't cut Sasken's 12-mnth buyback space: SAT
Re below the 45-mark vs US dollar
Cooking oil prices to slip globally
Talks on US-India N-deal in disarray
Google reigns as the most powerful
Rel Money eyes stake in HK Mercantile Exchange
Sony, Nokia, HP, ICICI most popular brands
ICICI, Kingfisher, Taj top brands in Asia-Pacific: Survey
‘India committed to non-proliferation, disarmament’
Text book independence for RBI is dangerous: Reddy
India stock investors should buy on dips: Lehman
Markets to stay under pressure, 4200 crucial for Nifty
NIIT Tech eyes travel, insurance sectors for growth
Chrome bags 1% share of global mkt in 4 days
Top 10 quirky places to dance
Top 10 places to visit in 2008
Top 10 green hotels
Top 10 hotels to drop in and tune out
Top 10 eco-friendly destinations
Markets this week(Latest Audio:English)
‘More work needs to be done to reach NSG consensus’
NSG decision put off to Saturday afternoon
India's most and least corrupt states
Indian American whizkid behind Google Chrome
Information You Can Use• All-India school quiz• TISS PG programmes• Astrophysics scholarships• Voice and accent workshop• Yoga and dance workshops• MTech Energy Studies• MBA in Agribusiness Mgmt• PGP in Rural Management• Scholarship test for GATE 09• Swiss hospitality seminar • PGD in International Biz mgt• Want a career in advertising?
Source:Rediff, ET, SIfy, BS,BL etc
Weekly Losers: Group A, Group B, NSE
------------------------------------------------
Singur talks to resume today
Fresh round of NSG talks to take place today
SEBI to let select investors hold up to 15% in bourses
RBI Termed Pay Increase As Burden On Economy
LIC has to cut >10% stakes prospectively: Irda
Coal shortage to continue
Tata Steel to pay 20% annual bonus
Sebi can't cut Sasken's 12-mnth buyback space: SAT
Re below the 45-mark vs US dollar
Cooking oil prices to slip globally
Talks on US-India N-deal in disarray
Google reigns as the most powerful
Rel Money eyes stake in HK Mercantile Exchange
Sony, Nokia, HP, ICICI most popular brands
ICICI, Kingfisher, Taj top brands in Asia-Pacific: Survey
‘India committed to non-proliferation, disarmament’
Text book independence for RBI is dangerous: Reddy
India stock investors should buy on dips: Lehman
Markets to stay under pressure, 4200 crucial for Nifty
NIIT Tech eyes travel, insurance sectors for growth
Chrome bags 1% share of global mkt in 4 days
Top 10 quirky places to dance
Top 10 places to visit in 2008
Top 10 green hotels
Top 10 hotels to drop in and tune out
Top 10 eco-friendly destinations
Markets this week(Latest Audio:English)
‘More work needs to be done to reach NSG consensus’
NSG decision put off to Saturday afternoon
India's most and least corrupt states
Indian American whizkid behind Google Chrome
Information You Can Use• All-India school quiz• TISS PG programmes• Astrophysics scholarships• Voice and accent workshop• Yoga and dance workshops• MTech Energy Studies• MBA in Agribusiness Mgmt• PGP in Rural Management• Scholarship test for GATE 09• Swiss hospitality seminar • PGD in International Biz mgt• Want a career in advertising?
Source:Rediff, ET, SIfy, BS,BL etc
10 things we'd like to see in Chrome
10 things we'd like to see in Chrome
http://www.download.com/8301-2007_4-10033296-12.html
So far we're pretty smitten with Google's Chrome. It's certainly not without its faults, but for version 1.0 of a browser it's pretty sharp. We've compiled a list of 10 things we'd really like to see added or tweaked. Some come from other browsers, and some are just improvements on some of the existing features. Google, we hope you're listening.
1. Profile roaming between multiple browsers. This may be a pipe dream, but if Foxmarks for Firefox has proved anything, syncing up your bookmarks between multiple machines is awesome. Doing the same with passwords, settings, and history would be even better. Considering Google already has a way for your browser to send data back to the mothership, and a hosted Web history service of its own, a little sync using my Google account doesn't seem that hard does it?
2. Better bookmark management. Speaking of bookmarks, the bookmarking system in Chrome is about as basic as it gets. "Stripped-down" might be a better way to describe it. On the outset, it seems as robust as Firefox 3's with a really simple one-click way to save links. Where the system falls apart is the lack of tools for organization, and a complete lack of a back-up tool to save your short (or long) list of favorite sites. Of course, a bookmarks plug-in like Delicious would help sort this out, which brings us to the next yearning...
3. Plug-ins. Google has acknowledged that plug-ins are on the road map, which is a good thing. Here's how the search giant can totally one-up Mozilla, though: let me install and make changes to extensions without having to restart the browser. Nothing is worse than having 30 tabs open and having to restart, even if it remembers what I had open before. This reminds me...
4. Saved sessions/Warning messages when closing multiple tabs. Firefox's little warning for when you're closing a group of tabs was a huge lifesaver in version two. Firefox 3 brought with it a way to save that grouping of open tabs for later. Chrome has neither of these features. Accidentally closing your browser with a slew of tabs open means they're gone for good--that is unless you set it from the default option of clearing what you were looking at. Chrome is also nice enough to tell you some of the most recently closed tabs back on its special start page, but that's it.
5. A full-screen mode. I love the minimalism of Chrome, but sometimes I just want those extra 60-90 vertical pixels back. Give me a keyboard shortcut for this too, and I'll be in screen hog heaven.
6. A more customizable interface. The blue is neat, but getting that great deep purple found in incognito mode is enough of a tease to make me want to change the way it looks based on how I'm feeling. Plus, you've taken away the nice special Windows-theme coloring I had when you got rid of the top of the application, so let me choose how I want it to look. Bonus points for a tie-dye mode or something that changes depending on what time of day it is--like your personalized homepage service iGoogle
. A way to drag "applications" back into the main browser. The option to turn a certain site into a self-contained browser window with a stripped-down interface is great. However, the inability to drag it back into an open Chrome browser window is maddening when you're trying to re-open some real estate on the task bar. You can do this with existing tabs and windows, and it works great.
8. A Mac/Linux version. The lack of a Mac client has left the growing percentage of Mac users in a bit of a tizzy. Worse yet, based on Google's track record with some of its other cross-platform software offerings like Google Earth and Google Desktop search, the Mac has fared a little worse with slower release schedules and less features than its PC siblings. Hopefully new features will be rolled out to all the platforms at about the same time.
9. A pop-up blocker that blocks. Clearly Google is trying to shake things up with a pop-up blocker that really should be called a "pop-up relocator," since it not only lets them open but also load. Frankly, this drives me nuts since I have to close them down to get them off the screen. Also if it's really important and something I meant to click, I have to go drag it off from the bottom of the screen.
10. A regular old search box. Yes progress is good and the "omnibar" does a pretty slam-dunk job of getting new searches going, but let's get some of the ambiguity away from that thing and have an option to leave it for URLs only. Also, a separate search box would let me pick from the other multitude of search providers in addition to Google without compromising my screen real estate.
Source:download.com
http://www.download.com/8301-2007_4-10033296-12.html
So far we're pretty smitten with Google's Chrome. It's certainly not without its faults, but for version 1.0 of a browser it's pretty sharp. We've compiled a list of 10 things we'd really like to see added or tweaked. Some come from other browsers, and some are just improvements on some of the existing features. Google, we hope you're listening.
1. Profile roaming between multiple browsers. This may be a pipe dream, but if Foxmarks for Firefox has proved anything, syncing up your bookmarks between multiple machines is awesome. Doing the same with passwords, settings, and history would be even better. Considering Google already has a way for your browser to send data back to the mothership, and a hosted Web history service of its own, a little sync using my Google account doesn't seem that hard does it?
2. Better bookmark management. Speaking of bookmarks, the bookmarking system in Chrome is about as basic as it gets. "Stripped-down" might be a better way to describe it. On the outset, it seems as robust as Firefox 3's with a really simple one-click way to save links. Where the system falls apart is the lack of tools for organization, and a complete lack of a back-up tool to save your short (or long) list of favorite sites. Of course, a bookmarks plug-in like Delicious would help sort this out, which brings us to the next yearning...
3. Plug-ins. Google has acknowledged that plug-ins are on the road map, which is a good thing. Here's how the search giant can totally one-up Mozilla, though: let me install and make changes to extensions without having to restart the browser. Nothing is worse than having 30 tabs open and having to restart, even if it remembers what I had open before. This reminds me...
4. Saved sessions/Warning messages when closing multiple tabs. Firefox's little warning for when you're closing a group of tabs was a huge lifesaver in version two. Firefox 3 brought with it a way to save that grouping of open tabs for later. Chrome has neither of these features. Accidentally closing your browser with a slew of tabs open means they're gone for good--that is unless you set it from the default option of clearing what you were looking at. Chrome is also nice enough to tell you some of the most recently closed tabs back on its special start page, but that's it.
5. A full-screen mode. I love the minimalism of Chrome, but sometimes I just want those extra 60-90 vertical pixels back. Give me a keyboard shortcut for this too, and I'll be in screen hog heaven.
6. A more customizable interface. The blue is neat, but getting that great deep purple found in incognito mode is enough of a tease to make me want to change the way it looks based on how I'm feeling. Plus, you've taken away the nice special Windows-theme coloring I had when you got rid of the top of the application, so let me choose how I want it to look. Bonus points for a tie-dye mode or something that changes depending on what time of day it is--like your personalized homepage service iGoogle
. A way to drag "applications" back into the main browser. The option to turn a certain site into a self-contained browser window with a stripped-down interface is great. However, the inability to drag it back into an open Chrome browser window is maddening when you're trying to re-open some real estate on the task bar. You can do this with existing tabs and windows, and it works great.
8. A Mac/Linux version. The lack of a Mac client has left the growing percentage of Mac users in a bit of a tizzy. Worse yet, based on Google's track record with some of its other cross-platform software offerings like Google Earth and Google Desktop search, the Mac has fared a little worse with slower release schedules and less features than its PC siblings. Hopefully new features will be rolled out to all the platforms at about the same time.
9. A pop-up blocker that blocks. Clearly Google is trying to shake things up with a pop-up blocker that really should be called a "pop-up relocator," since it not only lets them open but also load. Frankly, this drives me nuts since I have to close them down to get them off the screen. Also if it's really important and something I meant to click, I have to go drag it off from the bottom of the screen.
10. A regular old search box. Yes progress is good and the "omnibar" does a pretty slam-dunk job of getting new searches going, but let's get some of the ambiguity away from that thing and have an option to leave it for URLs only. Also, a separate search box would let me pick from the other multitude of search providers in addition to Google without compromising my screen real estate.
Source:download.com
05 September 2008
Sensex ends 415 pts down as bank, IT stocks decline
Sensex ends 415 pts down as bank, IT stocks decline
Weak global markets and uncertainties on the Indo - US nuclear deal front prompted a negative start on the major Indian bourses this morning. And equities, especially stocks from bank, realty, information technology and metal sectors remained in the red right through the session as the bears remained relentless till the very end.
Stockometer Top gainers Worst losers
Thanks to the fall in crude oil prices, PSU oil stocks had a good run in the positive territory today. Aviation stocks Jet Airways and Deccan Aviation too enjoyed a bright spell. Power and FMCG stocks rebounded from their lower levels thanks to renewed buying in afternoon trade. Auto and capital goods stocks posted sharp losses.
The Sensex, which opened with a negative gap of around 330 points at 14,569.01 and tumbled to a low of 14,438.59 in intra-day trades, ended at 14,483.83 with a huge loss of 415.27 points or 2.79%. The Nifty settled at 4352.30 with a loss of 95.45 points or 2.15% at 4352.30. The NSE barometer which opened at 4444.70 this morning, touched a low of 4328.90.
Besides several large cap stocks, a number of stocks from midcap and smallcap segments too declined sharply on selling pressure today. The market breadth was weak. Out of 2728 stocks traded on BSE, 1619 stocks closed with losses. 1017 stocks ended on a positive note and 92 stocks ended flat.
Among Sensex stocks, only Hindustan Unilever (1.8%), ITC (0.2%) and ONGC (0.2%) ended in the positive territory. Nifty stock BPCL posted a handsome gain of 7.8%.
Ranbaxy Laboratories plunged 8.75% to Rs 450.25. HDFC lost around 5.75%. DLF and Jaiprakash Associates closed lower by 5.4% and 5.2% respectively.
Wipro eased by 4.85%. ICICI Bank, HDFC Bank, Infosys Technologies and Sterlite Industries lost 4% - 4.5%. Satyam Computer Services, Tata Steel, Reliance Industries, Grasim Industries, Bharti Airtel, Hindalco, Larsen & Toubro and Tata Motors lost 2% - 4%. State Bank of India slipped by over a per cent and Reliance Communications ended 0.85% down.
Unitech, Cairn India, Punjab National Bank, SAIL, Dr. Reddy's Laboratories, Nalco, Power Grid Corporation, Ambuja Cements, Tata Communications, Siemens, Zee Entertainment and Hero Honda were among the prominent losers in the Nifty index.
Axis Bank, Essar Oil, Akruti City, Gujarat Minerals, Bharat Forge, Aditya Birla Nuvo, Kotak Bank, Gujarat NRE Coke, Jindal Steel, REI Agro, Essar Shipping, NMDC and Crompton Greaves were some of the major losers from BSE 'A' Group today.
Hindustan Petroleum Corporation, Aban Offshore, Bajaj Holdings, Indian Oil Corporation, Reliance Power, Jet Airways, Phoenix Mills, Bharat Earth Movers, Mphasis, Areva, IDBI Bank, RECL and OnMobile Global ended with impressive gains.
-------------------------------------------
Other Stories:
Forex reserves at $295.309 b on Aug. 29
NSG: Govt expects positive decision
'India abides by voluntary moratorium'
Officials meet representatives of sceptic NSG countries
Vienna: India walks NSG tightrope
Govt seeks to allay apprehensions of NSG members'
Committed to voluntary moratorium on N-test
'Indian officials meet reps of sceptic NSG nations'Only minor progress at NSG meet
' US denies N-document cover up
NSG waiver: Indian officials work overtime
NSG inches closer to ending India's N-isolation
Direct tax collections up 4% in August
ONGC eyeing Canadian oil co for $1.5 b
Azim Premji invests Rs 230 crore in Subhiksha
Dr Duvvuri Subbarao takes charge as RBI governer
FIIs net sell Rs 1,857cr, DIIs net buy Rs 485cr
Oil prices slide below $105
Ratan Tata calls on Prime Minister
51 pc Govt stake condition to hit growth of PSU banks: RBI
Tata Power buys 11.4% in Oz geothermal firm
Reliance to drill Columbia offshore blocks in 2010
Stocks to watch: Tech Mahindra, Tata Power, GTL Infrastructure
Prabhudas puts outperformer on Axis Bank; target Rs 921
Buy Sterlite for target Rs 765: STCI Capital Market
Essel Propack acquires US co
Prabhudas assigns market performer to Sun TV; target Rs 276
Source:ET, Sify, BS.
Weak global markets and uncertainties on the Indo - US nuclear deal front prompted a negative start on the major Indian bourses this morning. And equities, especially stocks from bank, realty, information technology and metal sectors remained in the red right through the session as the bears remained relentless till the very end.
Stockometer Top gainers Worst losers
Thanks to the fall in crude oil prices, PSU oil stocks had a good run in the positive territory today. Aviation stocks Jet Airways and Deccan Aviation too enjoyed a bright spell. Power and FMCG stocks rebounded from their lower levels thanks to renewed buying in afternoon trade. Auto and capital goods stocks posted sharp losses.
The Sensex, which opened with a negative gap of around 330 points at 14,569.01 and tumbled to a low of 14,438.59 in intra-day trades, ended at 14,483.83 with a huge loss of 415.27 points or 2.79%. The Nifty settled at 4352.30 with a loss of 95.45 points or 2.15% at 4352.30. The NSE barometer which opened at 4444.70 this morning, touched a low of 4328.90.
Besides several large cap stocks, a number of stocks from midcap and smallcap segments too declined sharply on selling pressure today. The market breadth was weak. Out of 2728 stocks traded on BSE, 1619 stocks closed with losses. 1017 stocks ended on a positive note and 92 stocks ended flat.
Among Sensex stocks, only Hindustan Unilever (1.8%), ITC (0.2%) and ONGC (0.2%) ended in the positive territory. Nifty stock BPCL posted a handsome gain of 7.8%.
Ranbaxy Laboratories plunged 8.75% to Rs 450.25. HDFC lost around 5.75%. DLF and Jaiprakash Associates closed lower by 5.4% and 5.2% respectively.
Wipro eased by 4.85%. ICICI Bank, HDFC Bank, Infosys Technologies and Sterlite Industries lost 4% - 4.5%. Satyam Computer Services, Tata Steel, Reliance Industries, Grasim Industries, Bharti Airtel, Hindalco, Larsen & Toubro and Tata Motors lost 2% - 4%. State Bank of India slipped by over a per cent and Reliance Communications ended 0.85% down.
Unitech, Cairn India, Punjab National Bank, SAIL, Dr. Reddy's Laboratories, Nalco, Power Grid Corporation, Ambuja Cements, Tata Communications, Siemens, Zee Entertainment and Hero Honda were among the prominent losers in the Nifty index.
Axis Bank, Essar Oil, Akruti City, Gujarat Minerals, Bharat Forge, Aditya Birla Nuvo, Kotak Bank, Gujarat NRE Coke, Jindal Steel, REI Agro, Essar Shipping, NMDC and Crompton Greaves were some of the major losers from BSE 'A' Group today.
Hindustan Petroleum Corporation, Aban Offshore, Bajaj Holdings, Indian Oil Corporation, Reliance Power, Jet Airways, Phoenix Mills, Bharat Earth Movers, Mphasis, Areva, IDBI Bank, RECL and OnMobile Global ended with impressive gains.
-------------------------------------------
Other Stories:
Forex reserves at $295.309 b on Aug. 29
NSG: Govt expects positive decision
'India abides by voluntary moratorium'
Officials meet representatives of sceptic NSG countries
Vienna: India walks NSG tightrope
Govt seeks to allay apprehensions of NSG members'
Committed to voluntary moratorium on N-test
'Indian officials meet reps of sceptic NSG nations'Only minor progress at NSG meet
' US denies N-document cover up
NSG waiver: Indian officials work overtime
NSG inches closer to ending India's N-isolation
Direct tax collections up 4% in August
ONGC eyeing Canadian oil co for $1.5 b
Azim Premji invests Rs 230 crore in Subhiksha
Dr Duvvuri Subbarao takes charge as RBI governer
FIIs net sell Rs 1,857cr, DIIs net buy Rs 485cr
Oil prices slide below $105
Ratan Tata calls on Prime Minister
51 pc Govt stake condition to hit growth of PSU banks: RBI
Tata Power buys 11.4% in Oz geothermal firm
Reliance to drill Columbia offshore blocks in 2010
Stocks to watch: Tech Mahindra, Tata Power, GTL Infrastructure
Prabhudas puts outperformer on Axis Bank; target Rs 921
Buy Sterlite for target Rs 765: STCI Capital Market
Essel Propack acquires US co
Prabhudas assigns market performer to Sun TV; target Rs 276
Source:ET, Sify, BS.
04 September 2008
Corporate Headlines
Corporate Headlines
Oil to weaken until OPEC gives policy signal: Barclays
Six Indians in Forbes' under-40 Asian billionaire list
Chrome reinventing PC usage
Reliance MF SIPs cross 1 mn mark
HDFC MF overtakes ICICI Pru
IBN18 Broadcast to raise Rs 400 cr
Foreign debt jumps 30 pc in last FY
Vienna meet: NSG mulls revised draft
Rs 4.11 bn investment in Moser Baer
Austral Coke ends 15% higher on Day 1
Tata Power to buy 10% in Australian co
GAIL shares rise 3% on bonus approval
Reliance may house Archies
Direct tax collections up 38.3 pc in first 5 months of FY'09
GoM for 49% insurance FDI
Discuss: Google's Chrome vs IE
Asia's youngest billionaires / Fabulous 50
Rajesh Exports eyes Rs 400-cr acquisiton
Source:ET,BS,BL
Oil to weaken until OPEC gives policy signal: Barclays
Six Indians in Forbes' under-40 Asian billionaire list
Chrome reinventing PC usage
Reliance MF SIPs cross 1 mn mark
HDFC MF overtakes ICICI Pru
IBN18 Broadcast to raise Rs 400 cr
Foreign debt jumps 30 pc in last FY
Vienna meet: NSG mulls revised draft
Rs 4.11 bn investment in Moser Baer
Austral Coke ends 15% higher on Day 1
Tata Power to buy 10% in Australian co
GAIL shares rise 3% on bonus approval
Reliance may house Archies
Direct tax collections up 38.3 pc in first 5 months of FY'09
GoM for 49% insurance FDI
Discuss: Google's Chrome vs IE
Asia's youngest billionaires / Fabulous 50
Rajesh Exports eyes Rs 400-cr acquisiton
Source:ET,BS,BL
Mkt down 151 pts; Inflation cools further to 12.34 per cent
Sensex sheds 151 pts as nuclear deal
Global jitters weigh on sentiment; Sensex ends 150 points lower
Sensex ends 151 pts down in volatile trade
Index Value: 14,899.10
Trade Time: 3:58PM IST
Change: - 150.76 (1.00%)
Prev Close: 15,049.86
Open: 14,895.85
Day's Range: 14,766.01 - 14,994.15
52wk Range: 12,515.00 - 21,206.80
Tracking weak Asian markets, equities opened on a negative note on the major Indian bourses this morning. A few front line stocks managed to buck the trend but the premier indices Sensex and Nifty traded in the red right through the session as every small rally was followed by a strong round of selling.
Stockometer Top gainers Worst losers
Market participants appeared wary of building up positions ahead of release of inflation data and the outcome of the crucial Nuclear Suppliers Group meet today.
Realty and bank stocks bore the brunt of the onslaught this morning. Though bank stocks bounced back well and ended well off their morning lows, realty stocks found the going pretty tough today. Metal, FMCG, capital goods and power stocks also had a weak outing.
Select IT, pharma and oil stocks edged higher on stock specific support. As the mood remained quite lacklustre, there was not much action in midcap and smallcap segments today.
The Sensex, which opened with a negative gap of over 150 points at 14,895.85 and slipped to a low of 14,766.01, ended the day at 14,899.10 with a loss of 150.76 points or 1%. The barometer hit a high of 14,994.15 in early afternoon trade. The Nifty settled at 4447.75 with a loss of 56.25 points or 1.25%. In intra-day trades, the Nifty touched a high of 4514.60 and a low of 4419.45.
Maruti Suzuki (2.95%) topped the list of gainers from the Sensex. Hindalco moved up by 2.4%. Jaiprakash Associates and Tata Power advanced by around 1.75%. Grasim Industries, State Bank of India, Infosys Technologies, ICICI Bank and Ranbaxy Laboratories ended with modest gains.
BPCL, GAIL India, Cairn India, Tata Communications, Dr. Reddy's Laboratories, Hero Honda, Ambuja Cements, HCL Technologies and Punjab National Bank closed with notable gains. Nalco, ABB, Unitech, SAIL, Siemens, Power Grid Corporation, Idea Cellular, Sun Pharmaceuticals and Suzlon Energy ended with sharp losses.
KSK Energy, Akruti City, Aban Offshore, UCO Bank, Piramal Healthcare, Essar Shipping, Bank of India, Petronet LNG, Federal Bank, Century Textiles, Bombay Dyeing, Yes Bank, India Cements, EIH, Biocon, Financial Technologies and Oriental Bank of Commerce were among the prominent gainers from BSE 'A' Group.
Midcap stock Moser Baer shot up by nearly 9.5% to Rs 116.20 following global investors injecting Rs 411 crore in the company's solar photovoltaic business. Himadri Chemicals, Zee News, Mercator Lines, JM Financial Services, Dish TV, Karnataka Bank, MIC Electronics, Ballarpur Industries, Sun Pharma Advanced Research, Wockhardt, KEC International, Jagran Prakashan and Jindal Drilling were among the other major gainers in the midcap index.
The market breadth was marginally positive when traded ended today. Out of 2685 stocks traded on BSE, 1332 stocks closed with gains. 1259 stocks declined and 94 stocks ended flat.
-----------------------------------------------
Inflation cools further to 12.34 per cent
Continuing its southward journey, inflation further slipped to 12.34 per cent for the week ended August 23 from 12.4 per cent recorded a week earlier. The nation’s annual inflation rate, however, was expected to have inched up in the third week of August to 12.44 per cent, driven by higher prices of some commodities and demand pressures in economy, a Reuters poll showed earlier. The decline in inflation last week was largely on account of the drop in the global crude prices and marginal easing of prices of essentials such as fruits, vegetables, eggs, meat and fish. Economists, however, cautioned that it may be too early to assume that the declining trend had set in. “While there has been some stability in the index since June, it may be too early to say that inflation has started declining,” said leading economist Saumitra Chaudhury.
DK Joshi, principal economist, Crisil, said, “It is essentially the impact of the global oil prices.” Lehman Brothers has already said in a report that they expect the final WPI inflation to peak in Oct/Nov at around 13.5-14.0 per cent, “but to stay in double-digit territory until February 2009. Based on our forecast of slower GDP growth of 7.3 per cent in FY09, our energy team’s forecast of the price of oil falling sharply to $90/bbl in Q1 2009, plus favorable base effects, our forecast is that WPI inflation will start turning down decisively in January 2009.”
Source: ET, SIfy
Global jitters weigh on sentiment; Sensex ends 150 points lower
Sensex ends 151 pts down in volatile trade
Index Value: 14,899.10
Trade Time: 3:58PM IST
Change: - 150.76 (1.00%)
Prev Close: 15,049.86
Open: 14,895.85
Day's Range: 14,766.01 - 14,994.15
52wk Range: 12,515.00 - 21,206.80
Tracking weak Asian markets, equities opened on a negative note on the major Indian bourses this morning. A few front line stocks managed to buck the trend but the premier indices Sensex and Nifty traded in the red right through the session as every small rally was followed by a strong round of selling.
Stockometer Top gainers Worst losers
Market participants appeared wary of building up positions ahead of release of inflation data and the outcome of the crucial Nuclear Suppliers Group meet today.
Realty and bank stocks bore the brunt of the onslaught this morning. Though bank stocks bounced back well and ended well off their morning lows, realty stocks found the going pretty tough today. Metal, FMCG, capital goods and power stocks also had a weak outing.
Select IT, pharma and oil stocks edged higher on stock specific support. As the mood remained quite lacklustre, there was not much action in midcap and smallcap segments today.
The Sensex, which opened with a negative gap of over 150 points at 14,895.85 and slipped to a low of 14,766.01, ended the day at 14,899.10 with a loss of 150.76 points or 1%. The barometer hit a high of 14,994.15 in early afternoon trade. The Nifty settled at 4447.75 with a loss of 56.25 points or 1.25%. In intra-day trades, the Nifty touched a high of 4514.60 and a low of 4419.45.
Maruti Suzuki (2.95%) topped the list of gainers from the Sensex. Hindalco moved up by 2.4%. Jaiprakash Associates and Tata Power advanced by around 1.75%. Grasim Industries, State Bank of India, Infosys Technologies, ICICI Bank and Ranbaxy Laboratories ended with modest gains.
BPCL, GAIL India, Cairn India, Tata Communications, Dr. Reddy's Laboratories, Hero Honda, Ambuja Cements, HCL Technologies and Punjab National Bank closed with notable gains. Nalco, ABB, Unitech, SAIL, Siemens, Power Grid Corporation, Idea Cellular, Sun Pharmaceuticals and Suzlon Energy ended with sharp losses.
KSK Energy, Akruti City, Aban Offshore, UCO Bank, Piramal Healthcare, Essar Shipping, Bank of India, Petronet LNG, Federal Bank, Century Textiles, Bombay Dyeing, Yes Bank, India Cements, EIH, Biocon, Financial Technologies and Oriental Bank of Commerce were among the prominent gainers from BSE 'A' Group.
Midcap stock Moser Baer shot up by nearly 9.5% to Rs 116.20 following global investors injecting Rs 411 crore in the company's solar photovoltaic business. Himadri Chemicals, Zee News, Mercator Lines, JM Financial Services, Dish TV, Karnataka Bank, MIC Electronics, Ballarpur Industries, Sun Pharma Advanced Research, Wockhardt, KEC International, Jagran Prakashan and Jindal Drilling were among the other major gainers in the midcap index.
The market breadth was marginally positive when traded ended today. Out of 2685 stocks traded on BSE, 1332 stocks closed with gains. 1259 stocks declined and 94 stocks ended flat.
-----------------------------------------------
Inflation cools further to 12.34 per cent
Continuing its southward journey, inflation further slipped to 12.34 per cent for the week ended August 23 from 12.4 per cent recorded a week earlier. The nation’s annual inflation rate, however, was expected to have inched up in the third week of August to 12.44 per cent, driven by higher prices of some commodities and demand pressures in economy, a Reuters poll showed earlier. The decline in inflation last week was largely on account of the drop in the global crude prices and marginal easing of prices of essentials such as fruits, vegetables, eggs, meat and fish. Economists, however, cautioned that it may be too early to assume that the declining trend had set in. “While there has been some stability in the index since June, it may be too early to say that inflation has started declining,” said leading economist Saumitra Chaudhury.
DK Joshi, principal economist, Crisil, said, “It is essentially the impact of the global oil prices.” Lehman Brothers has already said in a report that they expect the final WPI inflation to peak in Oct/Nov at around 13.5-14.0 per cent, “but to stay in double-digit territory until February 2009. Based on our forecast of slower GDP growth of 7.3 per cent in FY09, our energy team’s forecast of the price of oil falling sharply to $90/bbl in Q1 2009, plus favorable base effects, our forecast is that WPI inflation will start turning down decisively in January 2009.”
Source: ET, SIfy
Bharti, RIL among 10 Indian cos in Forbes Asia's Fabulous 50
Bharti, RIL among 10 Indian cos in Forbes Asia's Fabulous 50
Ten Indian companies led by the likes of state-run Bharat Heavy Electricals, telecom major Bharti Airtel and Mukesh Ambani-led Reliance Industries have made their way into the Forbes' list of 50 best listed companies in the Asia-Pacific region. The 'Asian Fabulous 50' ranking is topped by Taiwan-based computer maker Acer, while BHEL and Bharti Airtel are the top ranked Indian companies at the overall fifth and sixth spots. Acer is followed by Chinese steel maker Angang Steel, Taiwan's Asustek Computer and Indonesia's Bank Rakyat Indonesia at the second, third and fourth spots, respectively. Among Indian firms, BHEL and Bharti Airtel are followed by private sector lender HDFC Bank (22), IT bellwether Infosys (25), diversified conglomerate ITC (27), engineering and infrastructure firm Larsen & Toubro (30), auto maker Mahindra & Mahindra (34), Reliance Industries (39), world's sixth largest steel maker Tata Steel (44) and software exporter Wipro (46).
Among countries, China has the maximum representation with 13 firms, while India comes second with its 10 companies. "Indian companies once again had a strong showing, with 10 making our cut. Infosys and Wipro, perennial top performers, are back for the fourth year. Reliance Industries, Bharat Heavy and Larsen & Toubro are back for the third year. "Consumer-oriented companies such as Bharti Airtel, HDFC Bank, Mahindra & Mahindra and ITC are growing with India's middle class," the magazine said in an accompanying report. The list is based on long-term profitability, sales and earnings growth, stock price appreciation and projected earnings for every company in the region with revenues or market capitalisation of at least five billion dollars.
BHEL which is country's largest energy equipment provider holds about 60-65 per cent market share of India's power capacity additions. However, the magazine said rising prices of commodities could put the company's margins under pressure in the next several years. On Bharti Airtel, the report said, as many as 10 million new subscribers sign up every month for wireless access in India. "One in 4 sign up with Bharti Airtel, not only to make calls but also to access the web, download cricket scores and send billions of text messages." The report added that the firm is maxing out its allotted airwaves and that more spectrum should help Bharti Airtel "steal more wireless Web customers." The magazine said RIL is India's largest private sector company, accounting for 3 per cent of the nation's GDP and 13 per cent of its exports. Forbes added that the firm is also entering into joint- venture with US office property developer Vornado. Each would shell out $250 million to open shopping centers throughout India. On Tata Steel, the magazine said that Ratan Tata transformed his steel company from a south Asian foundry into an enterprise also spanning the rest of Asia, Europe and the US with the USD 13-billion takeover of Anglo-Dutch Corus Group last year. There are 23 rookies making their first appearance in the list and most of them are from China. Japan and South Korea are represented by three and two companies, respectively. Chiyoda, Nintendo and Yahoo! Japan have made it to the league of 50 from Japan, while Doosan and LG are from South Korea, the magazine said.
Mukesh, Anil Ambani among world's most powerful people
Source:ET
Ten Indian companies led by the likes of state-run Bharat Heavy Electricals, telecom major Bharti Airtel and Mukesh Ambani-led Reliance Industries have made their way into the Forbes' list of 50 best listed companies in the Asia-Pacific region. The 'Asian Fabulous 50' ranking is topped by Taiwan-based computer maker Acer, while BHEL and Bharti Airtel are the top ranked Indian companies at the overall fifth and sixth spots. Acer is followed by Chinese steel maker Angang Steel, Taiwan's Asustek Computer and Indonesia's Bank Rakyat Indonesia at the second, third and fourth spots, respectively. Among Indian firms, BHEL and Bharti Airtel are followed by private sector lender HDFC Bank (22), IT bellwether Infosys (25), diversified conglomerate ITC (27), engineering and infrastructure firm Larsen & Toubro (30), auto maker Mahindra & Mahindra (34), Reliance Industries (39), world's sixth largest steel maker Tata Steel (44) and software exporter Wipro (46).
Among countries, China has the maximum representation with 13 firms, while India comes second with its 10 companies. "Indian companies once again had a strong showing, with 10 making our cut. Infosys and Wipro, perennial top performers, are back for the fourth year. Reliance Industries, Bharat Heavy and Larsen & Toubro are back for the third year. "Consumer-oriented companies such as Bharti Airtel, HDFC Bank, Mahindra & Mahindra and ITC are growing with India's middle class," the magazine said in an accompanying report. The list is based on long-term profitability, sales and earnings growth, stock price appreciation and projected earnings for every company in the region with revenues or market capitalisation of at least five billion dollars.
BHEL which is country's largest energy equipment provider holds about 60-65 per cent market share of India's power capacity additions. However, the magazine said rising prices of commodities could put the company's margins under pressure in the next several years. On Bharti Airtel, the report said, as many as 10 million new subscribers sign up every month for wireless access in India. "One in 4 sign up with Bharti Airtel, not only to make calls but also to access the web, download cricket scores and send billions of text messages." The report added that the firm is maxing out its allotted airwaves and that more spectrum should help Bharti Airtel "steal more wireless Web customers." The magazine said RIL is India's largest private sector company, accounting for 3 per cent of the nation's GDP and 13 per cent of its exports. Forbes added that the firm is also entering into joint- venture with US office property developer Vornado. Each would shell out $250 million to open shopping centers throughout India. On Tata Steel, the magazine said that Ratan Tata transformed his steel company from a south Asian foundry into an enterprise also spanning the rest of Asia, Europe and the US with the USD 13-billion takeover of Anglo-Dutch Corus Group last year. There are 23 rookies making their first appearance in the list and most of them are from China. Japan and South Korea are represented by three and two companies, respectively. Chiyoda, Nintendo and Yahoo! Japan have made it to the league of 50 from Japan, while Doosan and LG are from South Korea, the magazine said.
Mukesh, Anil Ambani among world's most powerful people
Source:ET
03 September 2008
Download Chrome (BETA) - New browser from Google
New! Download Chrome (BETA) - the new browser from Google
Google Chrome is a browser that combines a minimal design with sophisticated technology to make the web faster, safer, and easier.
One box for everythingType in the address bar and get suggestions for both search and web pages.
Thumbnails of your top sitesAccess your favorite pages instantly with lightning speed from any new tab.
Shortcuts for your appsGet desktop shortcuts to launch your favorite web applications.
Learn about Google Chrome »
Google Chrome is a browser that combines a minimal design with sophisticated technology to make the web faster, safer, and easier.
One box for everythingType in the address bar and get suggestions for both search and web pages.
Thumbnails of your top sitesAccess your favorite pages instantly with lightning speed from any new tab.
Shortcuts for your appsGet desktop shortcuts to launch your favorite web applications.
Learn about Google Chrome »
Download Google Chrome
For Windows Vista/XP
For Windows Vista/XP
02 September 2008
Biz Headlines (02.09.08)
Sensex ends up 551pts; banking, realty stocks rally
Tata Motors suspends work in Singur
NMDC to invest Rs 12,000 cr in Chhattisgarh steel plant
July trade deficit widens to $10.8 bn
30% of Wipro staff may soon work from home
Rupee weakens on trade data, RBI watched
Crude oil near $100
Sensex vaults 551 pts as bulls storm the ring; Bank, realty stocks flare up
Bosch board okays share buyback
Great Offshore buys 2 cos for Rs 160 cr
Post Session Commentary - Sep 2 2008
Tata to Singur
Tumbling oil lifts Sensex by 551 points
SEBI to review IPO grading concept
23% fall in debt pvt placements in Q1
Re at 17-month low despite RBI move
Nifty September premium widens
US stock futures jump on oil tumble
Annual inflation seen at 12.44%
Options outdo futures for first time in 8 years
Max New York Life plans to have 1,600 offices in next 3 years
atures
Quickies
Danger lurks in e-world portals
India's Top 10 Company Brands
E-banking safety checks
A roller coaster ride called market
India's top IT & Telecom brands
Old building: Get together and rebuild
How not to invest in stock market
The lost world of lakes
World's top 10 auto groups by sales
India's top Finance & Banking brands
Source: ET, Sify, DP blog, BS etc
Tata Motors suspends work in Singur
NMDC to invest Rs 12,000 cr in Chhattisgarh steel plant
July trade deficit widens to $10.8 bn
30% of Wipro staff may soon work from home
Rupee weakens on trade data, RBI watched
Crude oil near $100
Sensex vaults 551 pts as bulls storm the ring; Bank, realty stocks flare up
Bosch board okays share buyback
Great Offshore buys 2 cos for Rs 160 cr
Post Session Commentary - Sep 2 2008
Tata to Singur
Tumbling oil lifts Sensex by 551 points
SEBI to review IPO grading concept
23% fall in debt pvt placements in Q1
Re at 17-month low despite RBI move
Nifty September premium widens
US stock futures jump on oil tumble
Annual inflation seen at 12.44%
Options outdo futures for first time in 8 years
Max New York Life plans to have 1,600 offices in next 3 years
atures
Quickies
Danger lurks in e-world portals
India's Top 10 Company Brands
E-banking safety checks
A roller coaster ride called market
India's top IT & Telecom brands
Old building: Get together and rebuild
How not to invest in stock market
The lost world of lakes
World's top 10 auto groups by sales
India's top Finance & Banking brands
Source: ET, Sify, DP blog, BS etc
Exports sharply up, but no let-up in imports too
Exports sharply up, but no let-up in
India's exports accelerated to 31.2% in July and to almost 25% during the April-July 2008 period over their respective levels a year ago.
But, imports too maintained their unstoppable momentum, with a year-on-year surge of 48% during the latest month and by over 34% during the first four months of 2008-09.
In the event, trade deficit for July zoomed to $10,798 million from $5,879 million during the same month of the last fiscal; for the four-month period, the trade gap widened to $41,227 million from the preceding year's $27,352 million.
The export effort was partly facilitated by the depreciation of the Indian rupee vis-Ã -vis the dollar.
This provided an incentive to exporters whose realisation in our currency would thus go up.
Indications are that though the rough weather faced by the American economy has proved to be a dampener in our export performance, this setback has been more than made good by better showing in the Asean, South-east Asian and Latin American markets.
But, with crude prices on the boil for most of the period covered by the foreign trade data, the oil import bill till July 2008 rose by a whopping 54.9% and by a staggering 69.3% in July alone. Translated into simple terms, this means that we must brace for a steep rise in the value of crude imports during the current fiscal, as any softening trend in the months ahead may not adequately compensate the high cost of oil in the first four months.
Compounding the problem posed by high cost of oil imports, the first four months of 2008-09 also saw a strident increase in other imports —- mainly raw materials, capital goods and essential items. Non-oil imports during July were higher by nearly 39% and till July by 25%.
With imports outpacing exports by a sizeable margin, the trade gap remained disconcertingly vast in July 2008 as well as during the first four months.
In other words, there was a further deterioration in the ability of our exports to pay for our imports during this fiscal.
The import-purchasing power of exports fell to 58.9% from 63.5% during the comparable period of 2007-08.
With ample foreign currency assets at our disposal, the imbalance in our external trade ledger may not be a serious problem now but, it does impact on the current account.
But, the trend in exports thus far suggests that we are on course to hit the target of $200 billion set for 2008-09. Already, we have reached $59 billion; since the latter part of the year is usually a period of heightened tempo in the growth of exports, there is even a possibility of surpassing this target.
Source:Sify
India's exports accelerated to 31.2% in July and to almost 25% during the April-July 2008 period over their respective levels a year ago.
But, imports too maintained their unstoppable momentum, with a year-on-year surge of 48% during the latest month and by over 34% during the first four months of 2008-09.
In the event, trade deficit for July zoomed to $10,798 million from $5,879 million during the same month of the last fiscal; for the four-month period, the trade gap widened to $41,227 million from the preceding year's $27,352 million.
The export effort was partly facilitated by the depreciation of the Indian rupee vis-Ã -vis the dollar.
This provided an incentive to exporters whose realisation in our currency would thus go up.
Indications are that though the rough weather faced by the American economy has proved to be a dampener in our export performance, this setback has been more than made good by better showing in the Asean, South-east Asian and Latin American markets.
But, with crude prices on the boil for most of the period covered by the foreign trade data, the oil import bill till July 2008 rose by a whopping 54.9% and by a staggering 69.3% in July alone. Translated into simple terms, this means that we must brace for a steep rise in the value of crude imports during the current fiscal, as any softening trend in the months ahead may not adequately compensate the high cost of oil in the first four months.
Compounding the problem posed by high cost of oil imports, the first four months of 2008-09 also saw a strident increase in other imports —- mainly raw materials, capital goods and essential items. Non-oil imports during July were higher by nearly 39% and till July by 25%.
With imports outpacing exports by a sizeable margin, the trade gap remained disconcertingly vast in July 2008 as well as during the first four months.
In other words, there was a further deterioration in the ability of our exports to pay for our imports during this fiscal.
The import-purchasing power of exports fell to 58.9% from 63.5% during the comparable period of 2007-08.
With ample foreign currency assets at our disposal, the imbalance in our external trade ledger may not be a serious problem now but, it does impact on the current account.
But, the trend in exports thus far suggests that we are on course to hit the target of $200 billion set for 2008-09. Already, we have reached $59 billion; since the latter part of the year is usually a period of heightened tempo in the growth of exports, there is even a possibility of surpassing this target.
Source:Sify
Market cheers oil slide; Sensex closes 550 points up
Market cheers oil slide; Sensex closes 550 points up
Equities closed sharply higher on Tuesday led by surge in interest-rate sensitive sectors after international oil prices tumbled to a low of $105.46 per barrel.
Bombay Stock Exchange’s Sensex closed at 15,049.86, up 551.35 points or 3.80 per cent. It touched a high of 15,106.15 and low of 14,543.21. National Stock Exchange’s Nifty ended at 4504.00, up 155.35 points. The 50-share index touched an intra-day high of 4522.40 and intra-day low of 4343.10.
BSE Midcap Index closed 1.66 per cent higher at 5,837.01 and BSE Smallcap Index ended at 6,982.39, higher by 1.32 per cent. State Bank of India (7.44%), ICICI Bank (7.34%), DLF (7.14%), ONGC (6.97%), Jaiprakash Associates (6.83%) were amongst the major Sensex gainers. Ranbaxy Laboratories (-1.89%) and Tata Motors (-1.82%) were the only losers. Market breadth was positive on the BSE with 1675 advances against 986 declines. In Europe, oil prices rebounded to $108.24 per barrel after plunging to $105.46 per barrel on concerns of fall in global demand and as worries on hurricane Gustav eased.
Other Related:
Sensex regains 15K level; Nifty crosses another milestone
Investors cheer crude slide; banks, realty lead
BSE extends trading hours from September 24 on sun outage
Sensex ends up 551pts; banking, realty stocks rally
Sensex vaults 551 pts as bulls storm the
Source: ET, Sify, BS.
Equities closed sharply higher on Tuesday led by surge in interest-rate sensitive sectors after international oil prices tumbled to a low of $105.46 per barrel.
Bombay Stock Exchange’s Sensex closed at 15,049.86, up 551.35 points or 3.80 per cent. It touched a high of 15,106.15 and low of 14,543.21. National Stock Exchange’s Nifty ended at 4504.00, up 155.35 points. The 50-share index touched an intra-day high of 4522.40 and intra-day low of 4343.10.
BSE Midcap Index closed 1.66 per cent higher at 5,837.01 and BSE Smallcap Index ended at 6,982.39, higher by 1.32 per cent. State Bank of India (7.44%), ICICI Bank (7.34%), DLF (7.14%), ONGC (6.97%), Jaiprakash Associates (6.83%) were amongst the major Sensex gainers. Ranbaxy Laboratories (-1.89%) and Tata Motors (-1.82%) were the only losers. Market breadth was positive on the BSE with 1675 advances against 986 declines. In Europe, oil prices rebounded to $108.24 per barrel after plunging to $105.46 per barrel on concerns of fall in global demand and as worries on hurricane Gustav eased.
Other Related:
Sensex regains 15K level; Nifty crosses another milestone
Investors cheer crude slide; banks, realty lead
BSE extends trading hours from September 24 on sun outage
Sensex ends up 551pts; banking, realty stocks rally
Sensex vaults 551 pts as bulls storm the
Source: ET, Sify, BS.
Biz Headlines
Options outdo futures for first time in 8 yrs
Finance Secretary D Subbarao appointed RBI Governor
Ranbaxy Fine buys US co for $340m
RIL shelves stake transfer plan
Sensex closes down 66 points despite
Daughters of Mittal, Ambani and KP Singh follow them into Forbes list
Tata Steel, Jet Airways most powerful brands
Maruti Suzuki August sales falls by 9.19 pc
A biofuel-propelled car that can run at 84mph over snow, ice
Hyundai domestic sales up 34 pc in Aug
Hyundai sales soar 57.5% in August
Bajaj Auto motorcycle sales rise 5 per cent in August
TVS Motors logs 11 per cent volume growth in August
Reliance abandons stake transfer of gas-rich D-6 block
Aban Offshore arm's JV bags $271 mn order from Maersk Oil
Delay in starting of gas production in RIL's D6 field
IOC to import up to 0.9 mn T diesel this FY
ONGC says to start pumping coal seam gas
Reliance to pump D-6 gas from October-govt
Govt unlikely to penalise RIL for delaying gas production
RIL-RNRL KG gas dispute hearing to resume on Tuesday
Arbitration panel asks Tata to pay $19 million in damages to Reliance Communication
Oil drops $4 as Gustav hits US Gulf Coast
Resurgere Mines share double its issue price
Suzlon advances REpower stake buy
Sensex recovers on late buying, ends down 66pts
Source:ET,BS.
Brand Power: RIL king of brands at $6.8 bn
Brand Power: RIL king of brands at $6.8 bn
DELHI: India’s trillion-dollar plus stock markets boast of 20 companies with a brand value of over $1 billion, up from 16 last year. There are now a dozen (BSE-listed) companies with a brand value over $2 billion (vis-Ã -vis nine last year) and half-a-dozen with over $3 billion (up from four last year). Raise the cut-off to $6 billion, and it’s a club-of-one, India’s biggest private-sector company, Reliance Industries, with an end-2007 brand value of $6.81 billion (Rs 26,801 crore) vis-Ã -vis $5.8-billion in end-2006. Using the relief-from-royalty method of brand valuation, which assumes that a company does not own its brand and needs to licence it from a third party, a global leading brand valuation firm, London-headquartered Brand Finance India’s Top 50 Most Valuable (Company) Brands, 2008, presented exclusively by ET, studied only BSE-listed consumer-facing corporate brands (and not holding companies, such as Hindustan Unilever, which own a portfolio of branded businesses) to arrive at the BF Top 50 list.
Brand Power: RIL king of brands at $6.8 bn2 Sep, 2008, 0210 hrs IST,Shailesh Dobhal & Bhanu Pande, ET Bureau
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NEW DELHI: India’s trillion-dollar plus stock markets boast of 20 companies with a brand value of over $1 billion, up from 16 last year. There are now a dozen (BSE-listed) companies with a brand value over $2 billion (vis-Ã -vis nine last year) and half-a-dozen with over $3 billion (up from four last year). Raise the cut-off to $6 billion, and it’s a club-of-one, India’s biggest private-sector company, Reliance Industries, with an end-2007 brand value of $6.81 billion (Rs 26,801 crore) vis-Ã -vis $5.8-billion in end-2006. Using the relief-from-royalty method of brand valuation, which assumes that a company does not own its brand and needs to licence it from a third party, a global leading brand valuation firm, London-headquartered Brand Finance India’s Top 50 Most Valuable (Company) Brands, 2008, presented exclusively by ET, studied only BSE-listed consumer-facing corporate brands (and not holding companies, such as Hindustan Unilever, which own a portfolio of branded businesses) to arrive at the BF Top 50 list.
Also Read
→ India Inc's brand sheet: RIL most valuable brand
→ Brands: Value beyond the balance sheet
→ Brand value league table construct
→ Tata Steel, Jet Airways most powerful brandsPrima facie, the BF Top 50 study doesn’t show any dramatic shift in last year’s line-up. The top brands are evenly spread out across sectors pretty much like last year, reiterating the fact that brands can create significant value even outside the traditional consumer goods sector. As many as nine out of top 10 brands of last year have maintained their place in the roster, albeit with a minor reshuffle in positions. Hindustan Petroleum Corporation (HPCL) is the only one to have got nudged out by a newcomer, Bharti Airtel, from the Top 10 list.
And even though the total brand value of Top 50 at $68.25 billion looks impressive compared with last year’s figure of $50.8 billion, it’s largely the effect of rupee appreciation (at an average exchange rate of Rs 45.5 and Rs 39.3 to a dollar in calendar 2006 and 2007, respectively, for the purpose of this study) that reflects an over 34% jump in the dollar-denominated brand valuation. In rupee terms, the Top 50’s brand value has gone up by only 15%, Rs 2.67 lakh crore from Rs 2.32 lakh crore. However, a closer scrutiny of the Top 50 list highlights some twists in the tale. For one, it marks the debut for 11 new brands on the Top 50 list, United Breweries, Tata Tea, Dabur, Idea, Tata Communications, Pantaloon, DLF, Jaiprakash Associates, GMR, Reliance Infrastructure and Gail. Says Brand Finance India MD M Unni Krishnan: “These brands have swiftly grown in size through a combination of organic and inorganic growth and their ability to transform their business to offer a whole range value proposition to customers.
These brands have shown leadership in shaping their industries ahead of time and consequently strengthening their ability to retain and acquire new customers.” The cut-off for Top 50, which was a low Rs 172 crore (No. 50, Essar Oil’s brand value) last year, has moved up to Rs 645 crore this year (Gail at No. 50 this year). Equally, as many as one in five brands on the Top 50 list last year dropped out of the list this year, IDBI Bank, Canara Bank, Essar Steel, Cipla, Nicholas Piramal, Reliance Energy, Sun Pharmaceutical, Gujarat Ambuja, Reliance Capital, ACC and LIC Housing. “Whilst the IDBI brand remains valuable, we have not been able to complete the brand valuation analysis due to paucity of marketing, customer and people data/information in the public space,” explains Mr Krishnan.
Two, the emergence of infrastructure as a fresh force and the decline of banking & finance and manufacturing in the brand war for supremacy in valuation. Though RIL retains its top position this year too, the petrochem-to-retail giant has seen its brand value (in rupee terms) remain virtually static, it barely inched up 1.4% over the year.
Gainers in the top 10 include Bharti Airtel (brand value: Rs 9,798-crore), which rose three rungs to settle at rank 8 and ICICI Bank (Rs 11,533-crore) that moved two slots up to reach the No. 7 spot. More than scaling the chart, the two have seen a jaw-dropping change in their values. Bharti Airtel gained as high as 26% in (rupee) value while ICICI Bank followed with a increase of 24% in brand value. Interestingly, it’s been a lacklustre year for the oil navratnas in the public sector. They continue to be under pressure due to rising crude prices and steep under-realisation due to government price controls.
All three oil PSUs, IOC, BPCL and HPCL, not just slipped down in the chart, they saw a significant erosion in their brand value in 2007. IOC slid to the third position (from No. 2 last year) with a brand value of Rs 17,987 crore (a drop of 5.3%), BPCL dropped to No. 9 slot from No. 7 last year and saw its brand value erode by a whopping 17% and HPCL down by 15%. SBI at No. 4, is the only one amongst the PSUs to hold its own while showing a remarkable rise, close to 16%, in its brand value. Sectoral analysis shows that banking & finance rule the list with nine brands although their number has dwindled over the last year. Oil & gas and IT have sent in six brands each, followed by automobile (four brands) in the list. Amidst the construction boom and some big-ticket IPOs in that space, infrastructure brands made a grand entry in the study for the first time. These include highly-visible brands of 2007, DLF, Jaiprakash Associates, GMR and Reliance Infrastructure, at rank 43, 46, 48 and 49, respectively.
The entries from a new sector had an obvious impact on brand from other sectors. While FMCG and telecom added new brands to the list of Top 50, banking & finance, manufacturing (steel, cement, durables) and pharma saw brand representation from within the sector go down. Barring a handful of brands, there’s been relatively minor shifts in ranks. The steepest fall has come for the likes of Tata Power (No. 47 versus No. 38 last year), Bank of Baroda (No. 39 and No. 30) and Videocon (No. 35 and No. 27). Others that moved down sharply in the list include Taj (Indian Hotels) that fell from No. 26 to No. 33 and JSW Steel dropped from No. 37 to No. 42. The study in its second year still manages to say a lot about the rapidly transforming business landscape in India. It’s no longer about consumer goods alone. The dominance of banking, IT, oil & gas, et al, may pale as we go along and we could see a rise of brand from new sectors that get a boost in the emerging new economic paradigm.
RIL most valuable brand
Brand value league table construct
Tata Steel, Jet most powerful brands
Indian flection brands
-------------------------------------
DELHI: India’s trillion-dollar plus stock markets boast of 20 companies with a brand value of over $1 billion, up from 16 last year. There are now a dozen (BSE-listed) companies with a brand value over $2 billion (vis-Ã -vis nine last year) and half-a-dozen with over $3 billion (up from four last year). Raise the cut-off to $6 billion, and it’s a club-of-one, India’s biggest private-sector company, Reliance Industries, with an end-2007 brand value of $6.81 billion (Rs 26,801 crore) vis-Ã -vis $5.8-billion in end-2006. Using the relief-from-royalty method of brand valuation, which assumes that a company does not own its brand and needs to licence it from a third party, a global leading brand valuation firm, London-headquartered Brand Finance India’s Top 50 Most Valuable (Company) Brands, 2008, presented exclusively by ET, studied only BSE-listed consumer-facing corporate brands (and not holding companies, such as Hindustan Unilever, which own a portfolio of branded businesses) to arrive at the BF Top 50 list.
Brand Power: RIL king of brands at $6.8 bn2 Sep, 2008, 0210 hrs IST,Shailesh Dobhal & Bhanu Pande, ET Bureau
Discuss New
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Bookmark / Share
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Yahoo MyWeb
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NEW DELHI: India’s trillion-dollar plus stock markets boast of 20 companies with a brand value of over $1 billion, up from 16 last year. There are now a dozen (BSE-listed) companies with a brand value over $2 billion (vis-Ã -vis nine last year) and half-a-dozen with over $3 billion (up from four last year). Raise the cut-off to $6 billion, and it’s a club-of-one, India’s biggest private-sector company, Reliance Industries, with an end-2007 brand value of $6.81 billion (Rs 26,801 crore) vis-Ã -vis $5.8-billion in end-2006. Using the relief-from-royalty method of brand valuation, which assumes that a company does not own its brand and needs to licence it from a third party, a global leading brand valuation firm, London-headquartered Brand Finance India’s Top 50 Most Valuable (Company) Brands, 2008, presented exclusively by ET, studied only BSE-listed consumer-facing corporate brands (and not holding companies, such as Hindustan Unilever, which own a portfolio of branded businesses) to arrive at the BF Top 50 list.
Also Read
→ India Inc's brand sheet: RIL most valuable brand
→ Brands: Value beyond the balance sheet
→ Brand value league table construct
→ Tata Steel, Jet Airways most powerful brandsPrima facie, the BF Top 50 study doesn’t show any dramatic shift in last year’s line-up. The top brands are evenly spread out across sectors pretty much like last year, reiterating the fact that brands can create significant value even outside the traditional consumer goods sector. As many as nine out of top 10 brands of last year have maintained their place in the roster, albeit with a minor reshuffle in positions. Hindustan Petroleum Corporation (HPCL) is the only one to have got nudged out by a newcomer, Bharti Airtel, from the Top 10 list.
And even though the total brand value of Top 50 at $68.25 billion looks impressive compared with last year’s figure of $50.8 billion, it’s largely the effect of rupee appreciation (at an average exchange rate of Rs 45.5 and Rs 39.3 to a dollar in calendar 2006 and 2007, respectively, for the purpose of this study) that reflects an over 34% jump in the dollar-denominated brand valuation. In rupee terms, the Top 50’s brand value has gone up by only 15%, Rs 2.67 lakh crore from Rs 2.32 lakh crore. However, a closer scrutiny of the Top 50 list highlights some twists in the tale. For one, it marks the debut for 11 new brands on the Top 50 list, United Breweries, Tata Tea, Dabur, Idea, Tata Communications, Pantaloon, DLF, Jaiprakash Associates, GMR, Reliance Infrastructure and Gail. Says Brand Finance India MD M Unni Krishnan: “These brands have swiftly grown in size through a combination of organic and inorganic growth and their ability to transform their business to offer a whole range value proposition to customers.
These brands have shown leadership in shaping their industries ahead of time and consequently strengthening their ability to retain and acquire new customers.” The cut-off for Top 50, which was a low Rs 172 crore (No. 50, Essar Oil’s brand value) last year, has moved up to Rs 645 crore this year (Gail at No. 50 this year). Equally, as many as one in five brands on the Top 50 list last year dropped out of the list this year, IDBI Bank, Canara Bank, Essar Steel, Cipla, Nicholas Piramal, Reliance Energy, Sun Pharmaceutical, Gujarat Ambuja, Reliance Capital, ACC and LIC Housing. “Whilst the IDBI brand remains valuable, we have not been able to complete the brand valuation analysis due to paucity of marketing, customer and people data/information in the public space,” explains Mr Krishnan.
Two, the emergence of infrastructure as a fresh force and the decline of banking & finance and manufacturing in the brand war for supremacy in valuation. Though RIL retains its top position this year too, the petrochem-to-retail giant has seen its brand value (in rupee terms) remain virtually static, it barely inched up 1.4% over the year.
Gainers in the top 10 include Bharti Airtel (brand value: Rs 9,798-crore), which rose three rungs to settle at rank 8 and ICICI Bank (Rs 11,533-crore) that moved two slots up to reach the No. 7 spot. More than scaling the chart, the two have seen a jaw-dropping change in their values. Bharti Airtel gained as high as 26% in (rupee) value while ICICI Bank followed with a increase of 24% in brand value. Interestingly, it’s been a lacklustre year for the oil navratnas in the public sector. They continue to be under pressure due to rising crude prices and steep under-realisation due to government price controls.
All three oil PSUs, IOC, BPCL and HPCL, not just slipped down in the chart, they saw a significant erosion in their brand value in 2007. IOC slid to the third position (from No. 2 last year) with a brand value of Rs 17,987 crore (a drop of 5.3%), BPCL dropped to No. 9 slot from No. 7 last year and saw its brand value erode by a whopping 17% and HPCL down by 15%. SBI at No. 4, is the only one amongst the PSUs to hold its own while showing a remarkable rise, close to 16%, in its brand value. Sectoral analysis shows that banking & finance rule the list with nine brands although their number has dwindled over the last year. Oil & gas and IT have sent in six brands each, followed by automobile (four brands) in the list. Amidst the construction boom and some big-ticket IPOs in that space, infrastructure brands made a grand entry in the study for the first time. These include highly-visible brands of 2007, DLF, Jaiprakash Associates, GMR and Reliance Infrastructure, at rank 43, 46, 48 and 49, respectively.
The entries from a new sector had an obvious impact on brand from other sectors. While FMCG and telecom added new brands to the list of Top 50, banking & finance, manufacturing (steel, cement, durables) and pharma saw brand representation from within the sector go down. Barring a handful of brands, there’s been relatively minor shifts in ranks. The steepest fall has come for the likes of Tata Power (No. 47 versus No. 38 last year), Bank of Baroda (No. 39 and No. 30) and Videocon (No. 35 and No. 27). Others that moved down sharply in the list include Taj (Indian Hotels) that fell from No. 26 to No. 33 and JSW Steel dropped from No. 37 to No. 42. The study in its second year still manages to say a lot about the rapidly transforming business landscape in India. It’s no longer about consumer goods alone. The dominance of banking, IT, oil & gas, et al, may pale as we go along and we could see a rise of brand from new sectors that get a boost in the emerging new economic paradigm.
RIL most valuable brand
Brand value league table construct
Tata Steel, Jet most powerful brands
Indian flection brands
-------------------------------------
01 September 2008
Buy RIL stock when it falls, Investors Guide from ET
Buy RIL's stock when it falls
Beta: 0.37
Institutional Holding: 25.98%
Dividend Yield: 0.6%
P/E: 15.6
M-Cap: Rs 3,10,444 cr
CMP: Rs 2,136
Reliance Industries (RIL) ranks among the country’s largest companies in the private sector on various parameters. It is on the verge of commissioning two of its biggest projects in September ’08.
At full utilisation levels, these projects are expected to add nearly Rs 80,000 crore to RIL’s consolidated revenues, further strengthening its numero uno position in India Inc. Its current market valuation appears to have taken into account the immediate gains from these two projects.
However, going forward, the stock may witness stagnation as its future outlook is getting cloudy due to the build-up of several negative factors. Nevertheless, there remains a possibility that given its strong cash flows, presence across industries and forward and backward linkages, RIL can spring positive surprises. Long-term investors can accumulate the stock at dips.
RIL has invested nearly $8.8 billion in its Krishna-Godavari (KG) basin gas fields since their discovery in ’02. Production from these fields is expected to start by the end of September at the rate of 25 million cubic metres a day (mcmd), which will be gradually scaled up to 80 mcmd.
The second mega-project, which will commence operations this month, is Reliance Petroleum’s 29 million tonne per annum (mtpa) high-complexity petroleum refinery in Jamnagar special economic zone (SEZ).
Latest media reports and comments from government quarters suggest that RIL will be able to stick to its initial schedule of completion by September ’08 and commence commercial production by December ’08. This Jamnagar plant will make RIL not just India’s largest petroleum refiner, but also the world’s largest single location refiner.
However, RIL is facing some imminent woes. The natural gas project is embroiled in two major lawsuits with Reliance Natural Resources (RNRL) and NTPC, both of which are claiming a huge chunk of gas supply at low prices.
This has disabled the company from selling gas to any third party. Any adverse outcome of these court cases can have a major impact on RIL’s future profitability, as well as its return on capital.
Similarly, the RPL refinery project, which was conceived when globally refinery margins were on the rise, is getting commissioned just when the rally has waned. The benchmark Singapore refining margins have fallen sharply to around $4 per barrel as of end August ’08 from $12 at the start of July ’08.
In view of several other refineries coming up in West Asia and China, the refining industry is expected to remain in a downward trend for the next 3-4 years. Over the past couple of years, RIL has aggressively entered the organised retail sector, opening around 735 stores across 13 states. This is another industry which is witnessing the entry of too many players, putting a big question mark on its profitability.
Initially, RIL’s valuation had got a boost from the potential growth prospects of its two mega projects. However, as the problems became more apparent, valuations plummeted. The scrip’s price-to-earnings (P/E) multiple, which had crossed 31 in January ’08, has halved to around 15.5 now, as the stock price fell from Rs 3,200 to Rs 2,150.
Still, the company commands one of the highest valuations among global peers such as Exxon Mobil, Royal Dutch Shell or PetroChina. And since current valuations have already factored in higher profitability of the new businesses, there is every reason that the valuations can weaken further.
Despite all these negatives, there are a few positive factors, which will help add some shine to the company’s performance. Being fully integrated in the petroleum value chain, the lower profitability of its refining business can be compensated to a certain extent by future improvement in profits of its petrochemicals business.
Secondly, the recent weakening of the rupee bodes well for RIL, which is increasingly focusing on exports, while its domestic revenues are also linked to the rupee-dollar exchange rate.
RIL operates in a capital-intensive commodity business, which is subject to business cycles. Against this background, it is creditable for the company to have maintained a return on capital above 18% over the past five years. But this has necessitated the company to plough back most of its profits into the business and pay just around 10% as dividends.
This will continue in future too and RIL’s dividend payouts, as well as dividend yields will remain very low. In the long term, several other projects that RIL is pursuing should help boost its growth momentum. The company is developing special economic zones in Haryana, Gujarat and Maharashtra.
It is also investing in exploration blocks in India, as well as abroad, and has bagged coal-bed methane (CBM) blocks. The potential hydrocarbon reserves from these blocks will also add value to the company. Hence, long-term investors can buy into the scrip when it falls, but they should not expect much upside in the near term from the commissioning of RIL’s two mega projects.
--------------------------------------
Derivatives Diary: The action is hotting up 1 Sep, 2008, 0033 hrs IST, Shakti Shankar Patra
Both the Dow and the Nifty found support at the lower ends of their respective ranges and bounced back sharply late in the week.
Beta: 0.37
Institutional Holding: 25.98%
Dividend Yield: 0.6%
P/E: 15.6
M-Cap: Rs 3,10,444 cr
CMP: Rs 2,136
Reliance Industries (RIL) ranks among the country’s largest companies in the private sector on various parameters. It is on the verge of commissioning two of its biggest projects in September ’08.
At full utilisation levels, these projects are expected to add nearly Rs 80,000 crore to RIL’s consolidated revenues, further strengthening its numero uno position in India Inc. Its current market valuation appears to have taken into account the immediate gains from these two projects.
However, going forward, the stock may witness stagnation as its future outlook is getting cloudy due to the build-up of several negative factors. Nevertheless, there remains a possibility that given its strong cash flows, presence across industries and forward and backward linkages, RIL can spring positive surprises. Long-term investors can accumulate the stock at dips.
RIL has invested nearly $8.8 billion in its Krishna-Godavari (KG) basin gas fields since their discovery in ’02. Production from these fields is expected to start by the end of September at the rate of 25 million cubic metres a day (mcmd), which will be gradually scaled up to 80 mcmd.
The second mega-project, which will commence operations this month, is Reliance Petroleum’s 29 million tonne per annum (mtpa) high-complexity petroleum refinery in Jamnagar special economic zone (SEZ).
Latest media reports and comments from government quarters suggest that RIL will be able to stick to its initial schedule of completion by September ’08 and commence commercial production by December ’08. This Jamnagar plant will make RIL not just India’s largest petroleum refiner, but also the world’s largest single location refiner.
However, RIL is facing some imminent woes. The natural gas project is embroiled in two major lawsuits with Reliance Natural Resources (RNRL) and NTPC, both of which are claiming a huge chunk of gas supply at low prices.
This has disabled the company from selling gas to any third party. Any adverse outcome of these court cases can have a major impact on RIL’s future profitability, as well as its return on capital.
Similarly, the RPL refinery project, which was conceived when globally refinery margins were on the rise, is getting commissioned just when the rally has waned. The benchmark Singapore refining margins have fallen sharply to around $4 per barrel as of end August ’08 from $12 at the start of July ’08.
In view of several other refineries coming up in West Asia and China, the refining industry is expected to remain in a downward trend for the next 3-4 years. Over the past couple of years, RIL has aggressively entered the organised retail sector, opening around 735 stores across 13 states. This is another industry which is witnessing the entry of too many players, putting a big question mark on its profitability.
Initially, RIL’s valuation had got a boost from the potential growth prospects of its two mega projects. However, as the problems became more apparent, valuations plummeted. The scrip’s price-to-earnings (P/E) multiple, which had crossed 31 in January ’08, has halved to around 15.5 now, as the stock price fell from Rs 3,200 to Rs 2,150.
Still, the company commands one of the highest valuations among global peers such as Exxon Mobil, Royal Dutch Shell or PetroChina. And since current valuations have already factored in higher profitability of the new businesses, there is every reason that the valuations can weaken further.
Despite all these negatives, there are a few positive factors, which will help add some shine to the company’s performance. Being fully integrated in the petroleum value chain, the lower profitability of its refining business can be compensated to a certain extent by future improvement in profits of its petrochemicals business.
Secondly, the recent weakening of the rupee bodes well for RIL, which is increasingly focusing on exports, while its domestic revenues are also linked to the rupee-dollar exchange rate.
RIL operates in a capital-intensive commodity business, which is subject to business cycles. Against this background, it is creditable for the company to have maintained a return on capital above 18% over the past five years. But this has necessitated the company to plough back most of its profits into the business and pay just around 10% as dividends.
This will continue in future too and RIL’s dividend payouts, as well as dividend yields will remain very low. In the long term, several other projects that RIL is pursuing should help boost its growth momentum. The company is developing special economic zones in Haryana, Gujarat and Maharashtra.
It is also investing in exploration blocks in India, as well as abroad, and has bagged coal-bed methane (CBM) blocks. The potential hydrocarbon reserves from these blocks will also add value to the company. Hence, long-term investors can buy into the scrip when it falls, but they should not expect much upside in the near term from the commissioning of RIL’s two mega projects.
--------------------------------------
Derivatives Diary: The action is hotting up 1 Sep, 2008, 0033 hrs IST, Shakti Shankar Patra
Both the Dow and the Nifty found support at the lower ends of their respective ranges and bounced back sharply late in the week.
'Committee to Save the Dollar' ain't needed 1 Sep, 2008, 0030 hrs IST
The dollar isn’t doing better because the US outlook is brightening. Rather, economies, such as Japan’s and those in the euro area, that were forecast to hold their ground are losing pace.
Investors can accumulate Opto stock on dips 1 Sep, 2008, 0027 hrs IST, Kiran Kabtta
Opto Circuits offers the right mix of high growth and dividends. Though the company seems fairly valued, investors can accumulate the stock on dips.
HDIL's financial viability looks positive 1 Sep, 2008, 0023 hrs IST, Supriya Verma
Given its proven ability to complete slum rehabilitation projects, HDIL’s financial viability seems positive. The company is also set to withstand the slump in realty sector.
Stocks to buy: L&T, Areva, HCL, Ansal Properties 1 Sep, 2008, 0020 hrs IST
Here is a list of stocks you can buy this week.
Buy RIL's stock when it falls 1 Sep, 2008, 0018 hrs IST, Ramkrishna Kashelkar
Long-term investors can buy Reliance Industries’ stock when it falls, but they should not expect much upside in the near term from the commissioning of the company’s two mega projects.
Goa Carbon's stock attractively priced 1 Sep, 2008, 0017 hrs IST, Amit Jain
Goa Carbon’s stock is attractively priced and offers significant upside potential for investors in the medium term.
Adhunik Metaliks provides good investment opportunity 1
Sep, 2008, 0015 hrs IST, Santanu Mishra
Backward integration plans, higher margins and investments in allied segments will drive Adhunik Metaliks’ growth. Investors with a horizon of 3-4 years can consider the stock.
How the deals stack up for India Inc in UK 1 Sep, 2008, 0011 hrs IST
While OVL agreed to buy Imperial Energy, Infosys gobbled up Axon. ETIG ploughed through the numbers to see how the deals stack up for Corporate India.
Week Ahead: Short term trend is bullish
Source:Economic Times, Business Standard.
31 August 2008
Business Headlines, Stock Reports
Headines
RIL scraps KG basin stake transfer
Canara bank to open 100 new branches
ONGC to get five new onshore blocks in WB
Iran has 85 bn barrels heavy oil reserve: Report
Private oil cos suggest win-win formula to revive retail biz
RIL gearing up for for KG gas production
FIIs net buy Rs 1,586cr in F&O on Friday
iPhone price may fall 15%
R-ADAG takes on L&T on monorail project
Index Outlook
‘Stability’ was the theme in the Indian stock markets in August; accompanied by the attendant boredom. Though the Indian benchmark was thwarted in its attempt at surpassing the 15500 mark this month, it has managed to hold on to ...
Larsen & Toubro: BuyInvestors with a 2-3-year perspective can consider adding the stock of Larsen & Toubro to their portfolio. The company’s proven execution skills, quality clientele, well-entrenched presence in a wide range of businesses and ability ...
ONGC may rope in Rosneft as local partner in Imperial EnergyKolkata, Aug. 30 ONGC may rope in Rosneft Oil Company of Russia as its local partner in Imperial Energy Corporation Plc in case of a successful acquisition of the UK-based company having substantial oil equity in Russia’s Siberia region, ...
Infosys: BuyWith bulging cash coffers and inorganic growth aspirations, Infosys Technologies has for long been scouting for suitable acquisitions. It seems to have finally found an ideal candidate in the Axon Group. ...
Indiabulls Real Estate: BuyThe current macro scenario does not augur too well for the real-estate sector with issues such as funding challenges, tapering demand and slowing launches clouding prospects. The sharp de-rating of stocks in the sector in the past one year ...
TECHNICAL ANALYSIS:
Sideways movement seen for Nifty future (August 31, 2008)
Reliance Infra (August 31, 2008)
Unitech (August 31, 2008)
Infosys (August 31, 2008)
Tata Steel (August 31, 2008)
SBI (August 31, 2008)
Reliance (August 31, 2008)
Index Outlook (August 31, 2008)
Query Corner: What the charts say (August 31, 2008)
STOCKS: PNB: HoldShareholders of Punjab National Bank (PNB) can stay invested in the stock. Though the stock trades at an attractive valuation, it may under-perform in the near term, given the uncertain interest rate scenario. The current macro environment ...
STOCK MARKETS: Bull's EyeE-mail your response by Tuesday to:
STOCK MARKETS: Baskets of XE-mail your guess before Tuesday to:
Source:ET,BL
RIL scraps KG basin stake transfer
Canara bank to open 100 new branches
ONGC to get five new onshore blocks in WB
Iran has 85 bn barrels heavy oil reserve: Report
Private oil cos suggest win-win formula to revive retail biz
RIL gearing up for for KG gas production
FIIs net buy Rs 1,586cr in F&O on Friday
iPhone price may fall 15%
R-ADAG takes on L&T on monorail project
Index Outlook
‘Stability’ was the theme in the Indian stock markets in August; accompanied by the attendant boredom. Though the Indian benchmark was thwarted in its attempt at surpassing the 15500 mark this month, it has managed to hold on to ...
Larsen & Toubro: BuyInvestors with a 2-3-year perspective can consider adding the stock of Larsen & Toubro to their portfolio. The company’s proven execution skills, quality clientele, well-entrenched presence in a wide range of businesses and ability ...
ONGC may rope in Rosneft as local partner in Imperial EnergyKolkata, Aug. 30 ONGC may rope in Rosneft Oil Company of Russia as its local partner in Imperial Energy Corporation Plc in case of a successful acquisition of the UK-based company having substantial oil equity in Russia’s Siberia region, ...
Infosys: BuyWith bulging cash coffers and inorganic growth aspirations, Infosys Technologies has for long been scouting for suitable acquisitions. It seems to have finally found an ideal candidate in the Axon Group. ...
Indiabulls Real Estate: BuyThe current macro scenario does not augur too well for the real-estate sector with issues such as funding challenges, tapering demand and slowing launches clouding prospects. The sharp de-rating of stocks in the sector in the past one year ...
TECHNICAL ANALYSIS:
Sideways movement seen for Nifty future (August 31, 2008)
Reliance Infra (August 31, 2008)
Unitech (August 31, 2008)
Infosys (August 31, 2008)
Tata Steel (August 31, 2008)
SBI (August 31, 2008)
Reliance (August 31, 2008)
Index Outlook (August 31, 2008)
Query Corner: What the charts say (August 31, 2008)
STOCKS: PNB: HoldShareholders of Punjab National Bank (PNB) can stay invested in the stock. Though the stock trades at an attractive valuation, it may under-perform in the near term, given the uncertain interest rate scenario. The current macro environment ...
STOCK MARKETS: Bull's EyeE-mail your response by Tuesday to:
STOCK MARKETS: Baskets of XE-mail your guess before Tuesday to:
Source:ET,BL
Labels:
Business Headlines,
Stock Reports
29 August 2008
Sensex up by 516 pts on Dip in Inflation,Inline GDP numbers
Closing Bell: Lower inflation, in-line GDP boosts market sentiment
Sensex surges 516 points as inflation eases
Bulls get their act together, lift Sensex up by 516 pts
After lying low for the entire week, Indian stock market benchmarks surged on Friday to close over 3 per cent higher backed by host of positive cues from domestic and global markets. Market opened with a gap-up reacting to drop in inflation to 12.40 per cent against expectation of 12.83 per cent, on moderation in prices of vegetables, meat, cement and a few non-administered petroleum products.
Directionless till Thursday, investors took this opportunity to build positions in recently beaten down banking and realty stocks as fears of Reserve Bank of India raising interest rates eased. Market also got a lift from a rally in Asia and the US earlier on the back of a surprise 3.3 per cent first quarter GDP growth in US. Retreating oil prices as traders discounted threat of hurricane Gustav to US installations boosted sentiments further. However, oil climbed back up to $117 in Friday’s trade as threat from Gustav continued to loom.
Back home, data showed the Indian economy grew at 7.9 per cent in the April-June quarter against previous quarter's 8.8 per cent. The numbers were also disappointing compared with previous year’s 9.2 per cent growth. This is the first time in last thirteen quarters that GDP growth has fallen below 8 per cent, but India is still expected to clock an annual growth of 8 per cent. “Moderation will continue for at least for two more quarters (factoring the further tightening by RBI).
However, we do not expect GDP to fall below 8 per cent in 2008-09. The consumption demand (both from consumer and government) is still strong which should support the manufacturing sector. Investment and savings are also satisfactory and is reflected in growth of construction sector in this quarter (11.4% against 7.7% a year ago),” said Krupresh Thakkar, research analyst, India Capital Markets. “Growth in agriculture holds the key, as a good season would increase demand for other products from industrial and service sectors boosting the economy. The slight slowdown in service sector is an area of concern but we would like to watch the figures for one more quarter,” he added.
Bombay’s Stock Exchange’s Sensex closed at 14,564.53, up 516.19 points or 3.67 per cent. The 30-share index touched a high of 14,586.16 and low of 14,279.02. National Stock Exchange’s Nifty ended at 4,360, up 3.46 per cent or 146 points. It touched a high of 4,368.80 and low of 4,230.60.
Hitendra Nayee, institutional-head, dealing, India Capital Markets, said, “domestic funds and foreign institutions both turned buyers. After months, we saw inflation climbing down and GDP numbers were also in line with expectations. The good thing is volumes were high, that shows interest returning back into the market. Now, the NSG meet will be keenly watched. We are expecting short-term uptrend in the market.” However, second rung stocks were behind in the race as compared with heavyweights.
BSE Midcap Index closed 2.38 per cent higher at 5,742.29 and BSE Smallcap Index gained 1.61 per cent to close at 6,891.64. State Bank of India (7.19%), Reliance Infrastructure (5.97%), ICICI Bank (5.93%) Tata Motors (5.44%) and DLF (5.35%) were the major Sensex gainers. There were no losers in the index. Shares of Tata Steel surged nearly 5 per cent after the company posted 60.5 per cent rise in April-June consolidated net profit late on Thursday. The company's shares ended up 4.99 per cent at Rs 600.35 with volume traded at 22,11,323 against two-week average of 14,78,472 shares.
The steel maker is in talks to raise at least $1 billion from a stake sale to private equity firms or a private placement of shares, according to media reports. Gammon Infrastructure Projects ended up 1.17 per cent at Rs 94.95 on BSE after it got an order for a bridge project worth Rs 8 billion. Jai Corp ended up 5 per cent at Rs 324.30 on market talk that Mukesh Ambani's Reliance Industries may grant it a gas distribution contract. On BSE , advances were 1,851 and declines 790. According to NSE website, total turnover was Rs 10,626.94 crore (provisional), up from Rs 8,769 crore Wednesday—a prior to settlement day.
Source:ET,BL,Sify
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