22 October 2007

Economic Times Headlines

SEBI has enough replies on P-Notes curb
SEBI probing FII price manipulation in crash
SEBI to make FII registration public

CRISIL assigns 4/5 grading to Edelweiss Capital's IPO
Mundra Port, SEZ plans to raise Rs 1,500 cr via IPO
Maytas Infra fixes IPO issue at Rs 370
Religare sets IPO band, eyes up to $35 mn

Five richest lose further $2.75 bn despite halt in mkt plunge


Godrej Consumer July-Sept net seen up 38 pc
Dewan Housing July-Sept net at Rs 162 mn
Orient Paper July-Sept net Rs 583.2 mn
GTL Q2 net profit at Rs 45.43 cr

LIC Housing Finance net up 53 pc at Rs 116.37 cr
KS Oils July-Sept net at Rs 265.8 mn
Dish TV July-Sept net loss Rs 919.4 mn
India Cement Q2 net profit up 90%



Triveni in pact with GE for compressors
ONGC-Mittal Energy Ltd buys 30 pc in Turkmenistan block
Remsons to form JV with Orscheln Products LLC
JSW Steel to consider Southern Iron merger
Gulf investors raise $630 mn for Energy City in India
Ennore Foundries plans Rs 300 cr plant
Sri Lanka buys 300KB of gas oil from Reliance
Bombay Rayon plans JV to launch global brands in India

Investors can expect a bumpy ride this week
Technical Analysis Wrap
'Banking shares an attractive bet'


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Sebi’s move is absolutely welcome: PwC India

Sebi’s move is absolutely welcome: PwC India

Dinesh Kanabar, Tax Head, PwC India feels that in any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective, he believes that Sebi’s move is absolutely a welcome move. He thinks that some of M Damodaran’s announcements today were very heartening.

Q: This move towards regulating the markets, what is your take on the transitional and how its been handled?

A: In any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective. I would like to believe this is absolutely a welcome move and I thought as I heard the Sebi chief today, he made some announcement which were very heartening.

Q: Such as?

A: One has to see the fine print. But the fact that the one-year timeframe which one needs a track record, is something, which it is willing to relook at it. If you look at when you register as an FII, what are the two key concerns which come in.

One is that you need a one-year timeframe. Second is the issue that you need to be registered regulated in the country where you are setup in the home country. Both of these are areas of concern. So far as one-year is concerned, it becomes a real big issue because over the last one-year, there have been several India funds which have been setup; India being the flavour of the day.

And if these funds suddenly cannot make investment because I’m aware of several funds which have raised hundreds of millions of dollars specifically, India-specific and these are not proprietary books. The question is how will they make investments suddenly with this new regime and therefore, the ability of the regulator to go beyond this one-year mechanism; look for example the track record of the people who are managing it or what is the other transparency which is available is very critical factor. Second issue is that one always wants regulated money.

But the question is that there are certain funds, which could have been actually registered and not regulated is that sufficient? Is that not sufficient?

So bit of discretion available in the transitionary phase, which is going to be something, which is very welcome, and today as I heard Mr. Damodaran he was open to this, he was welcoming those suggestions and will probably incorporate some of those when things come out on 25th.

Q: Did you feel at all in the interaction that Mr. Damodaran had with FIIs, that on October 25, there would be a softening or some kind of relaxing in the stance that Sebi has taken in the proposals?

A: There are two things, one is a procedural aspect, which has become a very significant roadblock. It was how long does it take for an FII to be registered and the apprehensions to whether Sebi will be quick on its feet.

Mr. Damodaran made a categorical statement, which is very welcome. It was that they will be quick on their feet. Somebody misunderstood the 24-hour notice to mean that they get registered in 24 hours and that cannot happen. Of course, Mr. Damodaran did say that there are FIIs which submitted incomplete applications and things like that, but those are few and far between.

Q: Are there language problems and stuff like that?

A: What is needed is a clear set of guidelines, which should come out, because this is a procedure and not a law. Therefore, its not documented and anything that is not documented, anything which is not in the public domain and of which people are not aware how to tackle becomes a subject matter of discretion and that is something which causes anguish.

For example- we as advisors tell FIIs what they need to do to qualify to be registered with Sebi. When you do not have transparent guidelines, problems arise.

Today, what Mr. Damodaran said is that he is willing to quicken the process and hopefully, it will come out with a transparent set of guidelines. So, that is going to soften the blow very significantly.

Q: Have you heard anything on the buzz about turnover tax perhaps being coming in on P-notes?

A: All sets of rumors are going around. I do not think I have heard anybody talk concretely about this matter. But there has been this issue that when P-notes get sort of unofficially traded, there is no security transaction tax. Probably the rumor seems to be around that instead of a security transaction tax, can we have a turnover tax on P-notes. I do not know whether it is feasible and how it can be monitored. But that seems to be the discussion going around.

Q: Ever since these proposals came to light and into the public arena, there has been this question of whether these moves were being made to control the quantum of flow or to monitor the quality of flows. Is there any light on that debate?

A: I do not know as I saw the three page policy paper which came out. It categorically speaks of both quality and quantity and one was a bit surprised with that.

But today as we heard Mr. Damodaran, he was quite clear that he was not worried about the quantum of flows. He had no concerns with that, he was only worried about the quality of the flows.

Q: In fact I thought that the Finance Minster in New York said something that was not really exactly what Mr. Damodaran was saying, isn’t it?

A: Today, the fears seemed to be allayed. To say that we are really looking at transparency and that was the buzz word. But the policy paper is in black and white and speaks about both quality as well as quantity.



Other related stories:

Sub A/Cs need to inform within 24 hrs to register: Sebi
Foreign money welcome, only through front door: FM
Were FIIs concerns addressed?
How does Sebi's talk impact sub A/cs?
Sebi move to help achieve stable mkt: Oppenheimer
PNs can invest in India, but as FIIs: FM


SEBI justifiably nervous of Participatory Notes
SEBI has enough replies on P-Notes curb
SEBI probing FII price manipulation in crash
SEBI to make FII registration public





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Sensex ends up 54pts, HDFC gains 7%

Sensex 17614 (54)
Nifty 5184 (-31)
Sensex ends up 54pts, HDFC gains 7%

The Sensex opened with a huge negative gap of 300 points at 17,260, and dropped to a low of 17,171 in early trades.Buying at lower levels saw the index recoup all the losses, and zoom to a high of 17,705 - an intra-day gain of over 500 points.After exhibiting extreme volatility in late noon deals, the Sensex finally closed with a gain of 54 points at 17,614.The BSE Bankex gained over 2% (191 points) to close at 9029.

The BSE FMCG and Capital Goods indices also closed with gains. The BSE Oil & Gas Index declined 1.6% (162 points) to 10,080. The BSE Teck, PSU and Realty indices also dropped today.Advances and declines were evenly matched - out of 2,754 scrips traded, 1,344 advanced and 1,339 declined.

INDEX GAINERS...HDFC zoomed over 7% (Rs 174) to Rs 2,572. ICICI Bank moved up over 3% to Rs 1,062. SBI added nearly 3% to close at Rs 1,713.While Ambuja Cements gained over 4% at Rs 145, M&M added 3.6% at Rs 754.Reliance Energy, ACC, L&T, Hindalco and ITC also finished with gains today.....

AND LOSERSBharti slipped over 4% (Rs 41) to Rs 928.TCS declined nearly 3% (Rs 32) to Rs 1,074. Infosys, Satyam and Wipro also dropped today.Reliance was down over 2% (Rs 56) at Rs 2,413.MOST ACTIVE COUNTERSAmbuja Cements was the most active counter with a turnover of Rs 809 crore followed by Reliance Energy (Rs 553 crore), United Breweries (Rs 509 crore), Reliance (Rs 480 crore) and Reliance Communications (Rs 235 crore).



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Day's Quote/Corporate Story

Quote of the Day

" Never underestimate the power of the combination of inspiration and perseverance."


Corporate/Personality of the Day

Sabeer Bhatia

Sabeer Bhatia (सबीर भाटिया) is a co-founder of Hotmail and an entrepreneur.
Sabeer was born in Chandigarh, India in 1968. His father, Baldev Bhatia, started as an officer in the Indian Army and later joined the Indian Ministry of Defence, while his mother, Daman Bhatia, was a senior official at the Central Bank of India.[1] Bhatia was schooled at the St. Joseph's Boys' High School in Bangalore. He started his undergraduate education at the Birla Institute of Technology & Science, BITS, Pilani and transferred to Caltech after two years at BITS. After graduating from Caltech, Sabeer went to Stanford to pursue his MS in Electrical Engineering. At Stanford, he worked on Ultra Low Power VLSI Design.
At Stanford, he was inspired by entrepreneurs such as Steve Jobs and Scott McNealy eventually deciding to become one himself. Instead of pursuing a PhD after his Masters, he decided to join Apple.

Further, Visit: http://en.wikipedia.org/wiki/Sabeer_Bhatia



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21 October 2007

Results on 22,October

Results Calender

Some of the Companies Result announcement Dates

Bannari A Spg 22-Oct-07

Bhushan 22-Oct-07

Dewan Housing 22-Oct-07

Dish TV India 22-Oct-07

Eicher Motors 22-Oct-07

Enkei Castalloy 22-Oct-07

Ennore Foundrie 22-Oct-07

Entegra 22-Oct-07

Finolex Ind 22-Oct-07

Foseco India 22-Oct-07

GTL 22-Oct-07

Guj Flourochem 22-Oct-07

HCL Info 22-Oct-07

Hind Zinc 22-Oct-07

IL&FS Investsma 22-Oct-07

India Cements 22-Oct-07

Ingersoll Rand 22-Oct-07

INOX Leisure 22-Oct-07

IQMS Software 22-Oct-07

KS Oils 22-Oct-07

Lanxess ABS 22-Oct-07

LIC Housing Fin 22-Oct-07

Lumax Auto 22-Oct-07

Lumax Inds 22-Oct-07

Maars Software 22-Oct-07

Orient Paper 22-Oct-07

PSL 22-Oct-07

Rama Newsprint 22-Oct-07

Rane Madras 22-Oct-07

Rolta 22-Oct-07

Saksoft 22-Oct-07

Salora Inter 22-Oct-07

Sanghvi Movers 22-Oct-07

Shanthi Gears 22-Oct-07

Shiva Texyarn 22-Oct-07

Sonata 22-Oct-07

Surya Pharma 22-Oct-07

Themis Medicare 22-Oct-07

Tourism Finance 22-Oct-07

Venus Remedies 22-Oct-07

Zee News 22-Oct-07

Zenith Computer 22-Oct-07

Zensar Tech 22-Oct-07


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Venture Capital, PE Updates

From Indiape.Com

3i picks up 6.6% stake in Welspun Gujarat

Yatra Capital raises 120 mln eur

Moser Baer to raise Rs400 crore private equity to fund its photovoltaic unit

Tayals to dilute BoR stake to 15% by March ’09

Himatsingka Seide acquires DWI Holdings Inc

PEs picking up GIL stake for Rs 1,200 crore

RBI suggests more curbs on VC funds

Ritesh approves stake sale to Bennett, Coleman


From VCCircle.com

Warburg Pincus Invests $110 Million In Electrical Gear Maker Havells

Social Investment Bank Intellecap Gets $8.4M Funding From Legatum

Cognizant Buys Sequoia India-Backed Analytics Firm marketRx For $135 Million

SAP’s M&A Debut In India: Buys Hyderabad Software Startup Yasu Technologies

Moser Baer Photovoltaic Biz Gets $100M From IDFC PE, GIC, CDC Group And IDFC

Evalueserve Report: The Hot Sectors For Private Equity Investment

Telecom Tower Company GTL To Land $250-275 Million Funding

Religare, Macquarie Bank Forms JV For Wealth Management Business



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Around the Blogs

Stock to watch out for-Parsvnath Developers Ltd

Company:Parsvnath Developers Ltd.Industry:Real Estate
CMP:330.35
Recommendation:OutperformerInvestment Arguments:
One of the fastest growing real estate companies with huge future plans and big projects under execution.

One of the early movers in SEZ's and in near future company might spin it off as a seperate entity thereby unlocking more value.

High promoter and FII stake (88%) as per latest data.This gives majority of holding of company in strong hands.
Undervalued among the real estate peers and further development of tier 2 and 3 cities to add value to the company where its main business is concentrated.
Cash inflows expected in excess of 1100 crores only by way of leasing out mall properties and multiplexes by 2012.
Overseas projects which the company is looking into will diversify risk further.
Good management and till date whatever has been said has been done which indicates commitment and value for long run.Also unwillingness to dulite further equity on management part shows the huge value of the equity.
Considering all these arguments the company looks to a multibagger in the long run.Investors can consider exposure after verifying the facts and also doing their own research.


5 IPO's worth Investing in for Huge Returns
Here is a list of 5 IPO which are slated to hit the marktes in the next few months and can be big multibaggers.Complate analysis of each to follow.1)Reliance Power-Power Sector2)Emaar MGF Land-Real Estate3)Rural Electrification Corporation-Power 4)Wockhardt Hospitals-Healthcare5)Edelweiss Capital-Financial Services


Source: http://freestocktips-2007.blogspot.com/



Indian Premier League (IPL) T20 (20-20) Cricket Teams to be listed on stock exchanges

P-Notes - Participatory Notes or Panic Notes?

Deccan Chronicle Holdings (DCHL) Share Buyback offer

SVPCL Limited IPO : SVPCL IPO opens for subscription on Oct 22



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Financial Jobs from Kpowave

Sundaram BNP Paribas Mutual Fund Openings

Financial Openings in Reliance Mutual Fund

Investment Advisors Openings in IL&FS Investsmart...

Research Analyst Openings in LKP Shares

Research Anlyst Openings in Karvy Global

Research Analyst Jobs in Enam Securities

Research Analyst Jobs in UTI Securities

Fundamental Analyst Openings in Edelweiss



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Economic Times Headlines

Foreign companies top B-school graduates preferred employer list
Hyundai plans new big sedan for India in 2 years
Suzuki doubles scooter sales target in FY09
Fortis Bank close to finalising Indian partner
Mother Dairy aims $1 bn turnover in 2 years
Job stability lures B school grads to opt for PSUs
Vishal to open speciality store chain for apparel, FMCG


RComm launches international data roaming to the US
DoT may issue LoIs for telecom licences
Railways to launch commercial portal
India's economic growth impressive: IMF
Export earnings, pvt remittances likely to jump in FY08


Life insurers to invest over $50 bn a year in equities by 2012
Infosys eyeing Europe, Middle-East, Africa for Finacle
PN restriction slams brakes on Sensex run
Hero Honda sparks price war in 125 cc segment
Warburg Pincus to pump in 110 mn dollar in Havells

MCX awaits FMC approval to initiate carbon trading
Mundra Port, SEZ plans to raise Rs 1,500 cr via IPO
FIIs reduce holding in 15 blue chips in past 3 months
SEBI chief to clear air on P-notes on Oct 22
UAE property developer to launch projects in Bangalore

Logan named among best cars not sold in US
PNs lose Rs 10,000 crore in crash


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