DLF to replace Dr Reddy's on Sensex

Real estate developer DLF Ltd's stock would replace Dr Reddy's Laboratories Ltd's stock in the benchmark index, the Bombay Stock Exchange (BSE) said in a statement in Mumbai on Monday.

The replacement will be effective from Nov 19 in the BSE Sensex, the bourse said.
This move is expected to be positive for DLF as funds which track the index will now take positions in the stock, said a leading stockbroker in Mumbai.

DLF Ltd had entered the capital markets this July with an initial public offering (IPO) of 175 million equity shares through a 100 per cent book building process.

Incorporated in 1946, the DLF group is a leading real estate developer based in New Delhi. The group has over 220 million sq ft of existing development and 574 million sq ft of planned projects. In September 2006 DLF was the only real estate firm among the 60 businesses named Superbrands of India under the real estate category.


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Sensex plunges 282 pts

SENSEX - 17491.39 ( Down 282 Points)

Nifty - 5085 - (Down 100 points)

The Sensex opened with a huge positive gap this morning and even looked poised to cross the coveted 18,000 mark as it vaulted to a new high of 17,982.59 in early trade. But the buoyancy proved quite short-lived as stocks, with the exception of those from the information technology sector, went into a tailspin due to a heavy bout of profit taking.

Though global markets provided positive cues, concerns over the growing rift between the ruling UPA and the Left parties on the Indo-US nuclear pact issue turned the participants jittery. The resultant sell-off in blue chip stocks sent the Sensex crashing to a low of 17,322.14 around noon.
There were a few mild rallies from lower levels but none proved strong enough to pull the market out of the red. Metal, realty, capital goods, bank, healthcare and auto stocks, all went down sharply. Fertilizer, sugar and telecom stocks were not spared either. FMCG stocks managed to regain some lost ground thanks to support at lower levels. IT stocks outperformed the market.

While the Sensex ended the day with a huge loss of 281.97 points or 1.59% at 17,491.39, the Nifty, which touched a high of 5249.30 in opening trade, settled at 5085.10, around 60 points off its intra-day low of 5024.75, netting a loss of 1.94% or 100.75 points.

Besides a host of large cap stocks, scores of midcap and smallcap stocks went down crashing today. Mirroring the sell-off in these segments, the BSE Midcap and Smallcap indices drifted down by 3.66% and 3.31% respectively.



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Day's Quote/Corporate Story

Quote of the Day

" I want to be remembered, not by fortune but by fame. I don't want the world to view me as a man with money, I want the world to view me as a man with a purpose and that purpose is to be remembered."

Personality / Corporate of the Day

Mukesh Ambani

Mukesh Ambani (April 19, 1957 Aden, Yemen) is the chairman, managing director and the largest shareholder of Reliance Industries, India's largest private sector company and a Fortune 500 Company. [2] His personal stake in Reliance Industries is 48%.[3] His wealth was US$50.1 billion as of March 2007 (Forbes), making him the world's 4th richest person and the richest person in India. However, his wealth was valued at US$ 51 billion in September taking into account his holding in Reliance Industries and group companies. This makes Mukesh the richest Indian in the world, ahead of steel tycoon Lakshmi Mittal.[4] Mukesh and younger brother Anil are sons of the late founder of Reliance Industries, Dhirubhai Ambani.

Further details, Visit : http://en.wikipedia.org/wiki/Mukesh_Ambani

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Headlines from Economic Times

Hiranandani bags second residential project in Dubai
Varsity project for technology of powerloom sector
Surana acquires Soundarapandi Stores
NCR plans big roll-out of biometric ATMs
IRDA's report on senior citizen by Nov 7

NBFCs urge govt to ensure level-playing field with banks
Chandrayanaa-I, a stepping stone for Mars mission
MP gears up for Global Investors Summit-2007 [
IndiGo launches flight to Agartala with attractive fares
SEZ for renewable energy equipment to cost Rs 20,000 cr

Maruti Udyog is all set to launch Swift Sedan
Old guards join Indian MNCs after global buys
Govt should consider 'golden share' in PSU banks: SBI
Seventh round of NELP bidding to start in November
B school graduates rush to politics

UN's Special Consultative Status for South India NGO
Air India wants to build 'European Hub'
'Made in India' rising to challenge China
MSSIDC turnover up by 63 pc, recovers Rs 62 lakhs
UTI MF to launch India International Fund

India's booming economy pulls in young investors
Reliance Power to pump in Rs 61K cr from IPO
GIC picks up 15% stake in East African Reinsurance


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Jobs in Financial Services

Analyst Openings In JM Financials

JM financials currently has these good openings

http://kpowave.blogspot.com/2007/10/analyst-openings-in-jm-financials.html

To Apply: http://jmfinancial.in/careers.asp?step=next&Adv=Y

Capal partners job application link!!!

Founded by professionals with executive experience at McKinsey & Co., GE Capital, and Goldman Sachs, Copal Partners provides its clients with financial research and analytics services through client-specific proprietary products. It has four practice areas: investment banking, equity research, credit research and consulting strategy.For applying use this link:http://www.copalpartners.com/CareerApply.aspx

Job openings in Sharekhan!!!

TECHNICAL ANALYST JOB DESCRIPTION: Job involves technical analysis and forecast of Indian stocks and commodities. Creating and managing trading products for retail clients. Providing adivisory support to HNI clients and equity sales department.EXPERIENCE: 1 to 5 yearsApplication link:http://www.sharekhan.com/Careers/Default.aspx

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India's Best B-Schools - A BT-Nielsen Study

India's Best B-Schools

A Business Today -Nielsen Study

( Issue Dated : Business Today, September 23, 2007)

Ranks 2007 - Top 10

1. IIM - Ahemedabad

2. IIM - Bangalore

3. IIM - Calcutta

4. Symbiosis - Pune

5. IIM - Lucknow

6. IIM - Indore

7. JBIMS - Mumbai

8. XLRI

9. ICFAI - Hyd

10. NMIMS - Mumbai

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Business Today's Top Women In Business List

Business Today

Article Dated : October 7, 2007

India's Leading business magazine listed

The 25 Most Powerful Women in Indian Businessfor the year 2006-2007

in Alphapetical order of surnames

Vinita Bali / Britannia

Shobhana Bhartia / HT Media

Elaben Bhatt / SEWA

Neelam Dhawan / Microsoft India

Manisha Girotra / UBS

Renu Sud Karnad / HDFC

Naina Lal Kidwai / HSBC

Chanda Kochhar / ICICI Bank

Kiran Mazumdar Shaw / Biocon

Zia Mody / AZB & Partners

Amrita Patel / NDDB

Swati Piramal / Nicolas Piramal

Preetha reddy / Apollo Hospitals

Renuka Ramnath / ICICI Venture Funds

Shika Sharma / ICICI Prudential Life Insurance

Mallika Srinivasan / TAFE

Ashu Suyash / Fidelity Funds Mgmt

For further details, visit / read : BUSINESS TODAY

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Day's Quote/Corporate Story

Quote of the Day

“Efficiency is doing things right. Effectiveness is doing the right things. Success is
doing the right things right, right now."

Personality / Corporate of the Day

Ratan Tata

Ratan Naval Tata (born December 28, 1937, in Mumbai) is the present Chairman of the Tata Group, India's largest conglomerate established by earlier generations of his family.

For furter visit: http://en.wikipedia.org/wiki/Ratan_tata

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