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10 August 2008

Numbers of Note: BT

Numbers of note

$9 trillion (Rs 387 lakh crore): Oil revenues Gulf countries will earn by 2020 if the prices remain at $100 per barrel

4.8 million: Vehicles Toyota Motor Company sold worldwide during the first half of this year. General Motors said it sold 4.5 million vehicles in the same period. Toyota came a narrow second to GM in the race to be the largest auto company in the world in 2007

$2 billion (Rs 8,600 crore): Direct revenues likely to be generated by the Beijing Olympics for the host city from sponsorships, licensing, advertisements, ticket sales and broadcasting rights, according to the Beijing Olympic Economy Research Association

€630 million (Rs 4,300 crore): Price at which Unilever sold its Bertolli olive oil business to Spain’s Grupo SOS. Bertolli is one of the best-selling brands of olive oils in the world. People are consuming more olive oil because of health benefits, such as lower cholesterol

325.78 million: Number of telephone connections in India at the end of June 2008, of which the total wireless subscriber (GSM, CDMA & WLL) base stood at 286.86 million

$7.3 billion (Rs 31,390 crore): The projected increase in spending on security biometrics worldwide by 2013, up from around $3 billion (Rs 12,900 crore) in 2008

73,050 million units: Power deficit faced by India between April 2007 and March 2008, led largely by states like Bihar, Gujarat, Haryana, Jharkhand, Madhya Pradesh, Maharashtra, Mizoram, Nagaland, Tripura and Uttar Pradesh

$90 billion (Rs 3,87,000 crore): The estimated cost of the first phase of the Delhi-Mumbai Industrial Corridor project

$30.6 billion: Is the notional value of the portfolio of risky mortgage debt that Merrill Lynch sold recently for a sum of $6.7 billion to Lone Star Funds

Rs 8,000 crore: Size of the biscuit market in the country
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Other BT articles

Editorial
Dreams for India
The potential to become a far more powerful and prosperous nation existed back then, and it exists now. What it requires, as management guru C.K. Prahalad writes so eloquently in our cover story, is not analysis but imagination.

Deal Watch
Wilbur L. Ross outbid Kingfisher Airlines to acquire SpiceJet
Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in July 2008.

Leadership Spotlight
Risk taker
Cricket has always been his passion. Though N. Srinivasan has been involved with the sport for many years in various administrative capacities, he had kept it away from his business. But this year, he decided to bid for, and bagged, the Indian Premier League’s Chennai franchise for $91 million (Rs 391 crore).

Jobs
Goodbye, appeasement
Rahul Sachitanand
As the reality of a slowdown bites the hitherto fast-growing IT industry, employees and employers need to realign their goals.
It pays to have a career in taxation

Trends
Monsoon worries
Rishi Joshi
Inflation is a bugbear that continues to give mandarins in the economic ministries sleepless nights. The latest figures show it at 11.98 per cent for the week ended July 19. Sub-normal rainfall in large parts of India can push inflation to 14 per cent.
Instant tip / BPOs are getting commoditised: Dougherty
Olympics? What’s that? / Time for fiscal worries
Dip,dip,dip / Doha Round: Dialogue of the deaf
Mumbai expensive? You must be joking / Loan defaults to rise
Geeks get reality ‘cheque’ / Air turbulence continues
At last, some good news on crude prices / Beautiful women decoded
Economy watch / The BT 50 index
Talebearer / Black, white and grey /
To be precise Noted
Just wondering ... / Power, too, now goes green

Money
The mortgage crush
K.R. Balasubramanyam
When interest rates were low, many homeowners overborrowed. But, they are now finding it difficult to cope with the increased monthly instalments. How to survive the interest rate hikes.
A few good stocks
The flexible fund manager
“Follow an asset allocation strategy”
Seniors first
MF Scoreboard

Policy Watch
Renewed thrust on divestment
The government is gearing up to radically alter its approach to disinvestment. With the Left out of the equation, moves are afoot to offload equity in some big PSUs. OIL (Oil India) and hydro-power generator NHPC are on top of the list.

Columns
My lunch with Warren Buffett
Mohnish Pabrai and his friend Guy Spier paid $650,100 to dine with the world’s best-known investor. This is what they took out from their three-hour lunch. A Business Today exclusive.

Features
Did they miss a trick or two?
Rachna Monga
Not since the technology crash of 2000 have an equity fund manager's investment strategy been tested—and the perils of running a concentrated portfolio exposed.
Shadow of a bull / Radioactive opportunity
Meet India’s biotech giant / The great Indian oil rush
Indian companies are waking up to corporate frauds
The last mile chase / The FCCB quandary

Current
On rough terrain
Suman Layak
Even as the world waits expectantly for the Nano, farmers who sold their land for the project now want it back. Will the world’s cheapest car be late coming?
The herald speaks / Eye of the Asian Tiger
Is the red for real? / Spectrum dole-out
Footloose fortune hunter / Bimmer is beaming
Something’s rotten in realty / A good deal for everyone
Still hot on start-ups / How green is My IT?
Same goal, different paths / Playing catch-up
Not Reddy, yet / Too much of a good thing
Beijing and beyond / Mutual benefit

Source: http://businesstoday.digitaltoday.in

Stock,Market Analysis from BusinessLine

Stock,Market Analysis from BusinessLine

STOCKS: Ipca Labs: Buy
Strong performance in branded finished dosages, growth momentum in exports and a strong position in anti-malarial drugs makes Ipca Labs, a medium sized pharma company with Rs 1,100 crore revenues, a good investment option. ...

STOCKS: Parsvnath Developers: Sell
The recent hikes in interest rates and the continuing scenario of unaffordable housing may prove to be an intimidating combination for the real-estate sector and realty developers. While rising cost of home loans can affect demand, higher ...

STOCKS: Praj Industries: Hold
Shareholders with a long-term perspective can continue to hold the stock of Praj Industries, a leading engineering solutions provider to ethanol plants worldwide. The company, whose growth prospects are largely intertwined with the increasing ...

STOCKS: 3i Infotech: Hold
Lowered IT spends by clients on the back of credit crisis-related write-downs and slowing economic growth in the US have created a turbulent environment for Indian software developers. In this context, a very select band of IT companies may be ...

IPOS: Austral Coke: AvoidInvestors can avoid investment in the initial public offering (IPO) of Austral Coke and Projects Ltd., considering the high execution risks and cyclical nature of the business, though prospects for volume growth are bright. ...

INSIGHT: FII activity in 2008 — Still some glimmer of hope

TECHNICAL ANALYSIS: Index OutlookVolatility was conspicuous by its absence in the equity markets last week. Trading was almost dull without the wild gyrations. Investors were treading water, buying selectively in beaten down sectors. The sea of red migrated from the trading ...

TECHNICAL ANALYSIS: Query Corner: What the charts sayI am holding shares of Idea Cellular purchased at Rs 128. Should I hold these shares at current prices or sell? ...

PETROLEUM: If crude falls further, equities may follow suitStocks, bonds, gold and every other financial asset have been dancing to global gyrations in crude oil prices. In 2008, Indian stocks have moved exactly in the opposite direction to crude prices. The BSE Sensex dropped to its low of 12576 points ...

TECHNICAL ANALYSIS:
Reliance Infra (August 10, 2008)
Unitech (August 10, 2008)
Infosys (August 10, 2008)
Tata Steel (August 10, 2008)
SBI (August 10, 2008)
Reliance (August 10, 2008)
Nifty may cool off after a strong opening (August 10, 2008)

DERIVATIVES MARKETS: Covered calls – here is how to use it

STOCK MARKETS: Baskets of X
E-mail your response before Tuesday to:
STOCK MARKETS: Bull's Eye
E-mail your response by Tuesday to

Source: BusinessLine

For Entrepreneurs, Innovators Benefit...

All of you knew about Venture Capital/Angel Investor.

If dont know about that, Pls read Venture capital - Wikipedia, the free encyclopedia / Angel investor - Wikipedia, the free encyclopedia

In India, there are numerous VC funds.I have listed few from the site of SEBI.

Entrepreneurs interested to make new ideas into action may visit the following link.

List of Registered Foreign Venture Capital Investors

List of Registered Venture Capital Funds

Other VC websites:

Indian Angel Network

Global Network of Entrepreneurs

India Private Equity

US - India Venture Capital Association

India Venture Capital Association

Welcome to Indian Venture Capital Journal

Aavishkaar India Micro Venture Capital Fund

VC Circle

Angel Investors, Venture Capital- Angel Group Network

Angel Investor Forum

Source: from SEBI website, own collection.

09 August 2008

Garuda, the car that runs 180 km per litre: Rediff

Garuda, the car that runs 180 km per litre!

A car that offers a mileage of 180 kilometers to a litre of petrol? Yes!

It's neither a pipedream nor a gadget out of a science fiction flick. Garuda, is a car that has been developed by a group of mechanical engineering students from the Rashtriya Vidyalaya College of Engineering, Bangalore.
The super fuel-efficient, aerodynamic car, say the brains behind the project, will address raging issues like oil crisis, rising fuel costs, environmental pollution, and the desperate need for green technologies.
The car is the result of 'Project Garuda-RVCE Supermileage Car,' which was conceptualised by Nishant Sarawagi, the team leader, and seven of his mates: Bharat, Kayaan, Darshan, Jacob, Gautham, Krishna, and Rakshit.

So what are the distinctive features of this fantastic car?

Read on. . .

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Indian CEOs heading Fortune cos

Indian-origin CEOs are establishing their prowess across the globe. It may be raining gold for these globe trotting executives as they head more Fortune-listed American firms but, weak dollar, sub-prime crisis and the looming US recession have taken their toll, as total profit of such entities has more than halved in a year's time.

But they are not the only ones. According to the latest Fortune 500 list of America's biggest corporations, which has been topped by retailer Wal-Mart Stores (six times in the past seven years), cumulative net profit of all these firms fell about 18 per cent to $645.2 billion in 2007.
However, the total turnover of America's Fortune 500 firms rose by about seven per cent to $10.6 trillion.

In the main list, Wal-Mart (revenue of $378.8 billion) is followed by energy giant ExxonMobil (372.8 billion dollars). Others in the top 10 include Chevron, General Motors, ConocoPhillips, GE, Ford, Citigroup, Bank of America and AT&T.

The US business magazine Fortune ranks America's biggest firms based on their full-year revenues in this annual list. Compared to six last year, as many as 10 Fortune firms are now headed by CEOs of Indian origin.

More @ http://specials.rediff.com/money/2008/aug/08slid1.htm

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RBI panel suggests interest rate futures :UTVi

RBI panel suggests interest rate futures

To enable banks, FIIs and other players manage interest rate risks, an RBI-appointed technical panel today recommended introduction of futures contracts, initially based on 10-years government bond yield, which should be settled by physical delivery.

RBI's Technical Advisory Committee suggested that as market evolves, exchanges may consider introducing contracts on various other government securities.The group also recommended that these products be exempted from securities transactions tax to ensure symmetry between cash market in government and other securities and interest rate futures.

These proposals are put on RBI's website and the central bank would view feedback on these suggestions from the public before coming out with finale guidelines on IRF.
The RBI had recently issued guidelines on currency futures, which is to be put in place by the month end.
The need for interest rate futures arose because of failure of exchange traded interest rate futures contracts introduced by NSE in 2003.
Earlier, in 1999, the RBI also took initiative to introduce over-the-counter interest rate futures. Taking lessons from experiences of these products, the RBI panel recommended that futures contract initially be based on the 10-year government security yield.
It observed that banks, insurance companies, primary dealer and provident funds who among them carry almost 88% of interest rate risk on account of exposure to government securities need a credible institutional hedging mechanism.

The group also recommended that banks be allowed to be able to trade in interest rate futures against the current practices of permitting them only to hedge their interest rate risks inherent in the balance sheet.

The group also recommended participation by FIIs and NRIs in the interest rate futures. However, FIIs may be allowed to take long position in the IRF market, which should not exceed maximum permissible cash market limit, currently pegged at $4.7 billion.

FIIs may also be allowed to take short positions in the market but only to hedge actual exposure in the cash market.

On the accounting treatment of IRF, the committee has suggested that till accounting standard prescribed by the institute of chartered accountants becomes mandatory, which is to be done by 2011, RBI should excercise its powers and mandate uniform accounting treatment for Interest rate swaps and interest rate futures.
***************************************
Dreamworks-ADAG deal nearly complete
We may scrap sugar levy system: Pawar
Wkly Mkt Review: Sensex gains 511 pts
Oil falls to $115 on economic worries
Gold ends near three-month low

Source:UTVi

US mkts end higher (303 pts up) on strong Dollar, Oil drop

Stocks jump as oil prices fall sharply
Oil sinks on stronger dollar to $115 a barrel
Fannie Mae loses $2.3B in quarter as defaults rise
UBS settles $18.6B auction-rate securities case
Insurance weighs on Berkshire Hathaway's 2Q

DJIA 11,734.32 +302.89 +2.65%

S&P500 1,296.32 +30.25 +2.39%

Oil Hits intraday low of $114.61 and settled at $115.15

The precipitous slide, fueled in part by a recovery in the U.S. dollar, has now taken oil prices to around $115 a barrel -- or more than 20 percent below a record set July 11.
A slide in energy prices is a welcome boost in an economy hamstrung by the housing slump and mounting mortgage losses in the financial services sector.

In the near term, consumers and business should feel some respite as energy costs recede, boosting prospects for a range of market constituents, including airlines, retail, industrial and technology sectors.

Financials are also a major beneficiary as investors shift money out of energy stocks in search for bargains elsewhere.

"I think the trend in stocks is up. I do feel that July 15 represented the bottom for stocks and we are going to move higher," said Bruce Zaro, chief technical strategist at Delta Global Advisors in Boston.

"I really feel that what investors are looking for right here is signs that the economy is starting to pick up right now."

And as the latest earnings reporting season is fast winding down, investors will have plenty of economic reports to watch next week. Continued...

Source: Reuters, Yahoo Finance.

08 August 2008

World's 10 top management gurus

World's 10 top management gurus

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World's 10 top management gurus
August 6, 2008
"Deregulation, emerging markets, new forms of globalisation, convergence of technologies and industries, and ubiquitous connectivity, these have changed many aspects of business," said management guru C K Prahalad in an interview.
Prahalad is the world's topmost management guru and the first Indian-born thinker to claim the title.
The Thinkers 50 2007 list, produced by Suntop Media in association with Skillsoft, is a definitive guide to who is the most influential living management thinker.
Although the list is still dominated by North Americans (37 of the 50 gurus are from the United States), three more Indian management experts have made it to the Top 50. As yet, no Chinese guru has emerged.
To find out about the other nine who completed the top 10, read on. . .

1. C K PRAHALAD
Coimbatore Krishnao Prahalad was born in the town of Coimbatore in Tamil Nadu. He studied physics at the University of Madras (now Chennai); worked as a manager in a branch of the Union Carbide battery company, then went to the Harvard University and earned a PhD.
Prahalad, is now the Paul and Ruth McCracken Distinguished University Professor at the Ross School of Business, University of Michigan, specializes in corporate strategy.
His books include:
Multinational Mission: Balancing Local Demands and Global Vision (1987), coauthored with Yves Doz,
Competing for the Future (1994), co-authored with Gary Hamel. Printed in fourteen languages, the book was named the Best Selling Business Book of the Year in 1994, and
The Future of Competition: Co-Creating Unique Value with Customers (2004) (coauthored with Venkatram Ramaswamy).
On his vision about India, Prahalad says: "As a country, India must have high and shared aspirations like it had in 1929 when the leaders of the then Congress party declared their ambition as Poorna Swaraj. Since then, India has never had a national aspiration which every Indian could share."

For more: http://specials.rediff.com/money/2008/aug/06slide1.htm
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Chaturvedi Panel for 'Super Profit Tax'

The Prime Minister-appointed B K Chaturvedi panel is believed to have suggested reviewing fuel prices every month to bring them at par with production cost and has sought imposition of a 'Super Profit Tax' on oil fields awarded before 1999.

The Committee, which submitted its report to Prime Minister Manmohan Singh earlier this month, is believed to have suggested raising petrol and diesel prices by a small amount every month till they are at par with production cost, sources who had seen the report said.Besides freeing pricing of petrol and diesel from administrative control, it also favoured subsidising cooking fuels LPG and kerosene through a new tax on oil produced from fields awarded prior to the advent of New Exploration Licensing Policy (NELP) in 1999.

At present, only state-run producers like ONGC shell out a part of their revenues from high oil prices towards fuel subsidies. If the recommendations are accepted, it would mean oil producers like Cairn (in Ravva field) and BG-Reliance (in Panna/Mukta fields would also have to pay for subsidies.

Sources said the Chaturvedi Committee, that went into the financial health of oil PSUs, has also suggested pricing fuel at export-parity rates that a company may get if the fuel was to be exported.These rates would be 10-15% lower than the trade parity pricing followed now, thereby bringing down the projected revenue losses. Domestic retail price is currently determined in a 80:20 mix of import-parity and export-parity prices.Besides, the panel has also recommended squeezing the marketing margins but has not favoured any tax on windfall gains some refiners particularly in the private sector have made in recent times.

Source:UTVI

Govt eyes $10bn from BSNL public offer

Govt eyes $10bn from BSNL public offer

The government on Thursday broached plans for the public listing of telecom giant Bharat Sanchar Nigam Ltd with its workers, but neither the proposal nor an offer of ESOPs found any takers.
Communications Minister A Raja, who attempted to win the consent of employees union for diluting 10 per cent of BSNL's stake, said that the listing could be in the band of Rs 300-400 a share by the end of this fiscal.

BSNL, India's top telecom firm by subscriber numbers, has a paid up equity capital of around Rs 5,000 crore (Rs 50 billion) and could achieve a revenue of Rs 50,000 crore (Rs 500 billion) at the end of this fiscal. As of end-June, BSNL had nearly 73 million wireless and fixed-line subscribers.

"This is the first time I am talking to the BSNL union on the issue of listing after its board took a decision on the same last week. We have explained to the union on how the IPO will benefit the company," Raja said after meeting the workers.

To win the consensus of the three lakh BSNL employees, the company's board offered workers 500 shares each at Rs 10 a share, while the IPO would be in a range of Rs 300-400 per share, the minister said.

The union, however, rejected the ESOP package. "This Esop is a bait.. we will not fall for it," BSNL Employees Union General Secretary V A N Namboodiri said. The union fears for jobs of workers after the IPO, as also about the growth of the company.

BSNL finance director S D Saxena said the conservative valuation was roughly $100 billion. "Vodafone got Hutchison Essar a valuation of $21 billion and this company is 5-6 times bigger," he said.

Merchant bankers have not yet been appointed for the IPO, Saxena said, adding that the process would start now.He said the IPO could happen in six months. "We will not rush into it. We will try to convince everyone. If there is a delay in the issue it is better. The valuation may go up."
But union leader Namboodiri told reporters after meeting Raja that "we are not interested in the ESOP package given by the board. We don't want any IPO in BSNL. We are not convinced with their argument that the IPO is beneficial for BSNL's growth."

BSNL chairman Kuldeep Goyal, however, said there is no timeframe as to when the IPO will happen. "There is no immediate need for it but we are preparing the ground work. . . (and claimed) we are seeing some positive reaction from the union on the issue," although the union rejected the plan outright.Appealing to the workers keep the negotiations on, Raja in a statement said that the IPO will reveal the real value of the company as also help it get Navratna status -- which would give greater financial autonomy to the telecom firm.

At Thursday's price Bharti is valued at Rs 1.61 lakh crore (Rs 1.61 trillion) and RCom at Rs 90,517 crore (Rs 905.17 billion).

SOurce: Rediff

Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

10 August 2008

Numbers of Note: BT

Stock,Market Analysis from BusinessLine

For Entrepreneurs, Innovators Benefit...

09 August 2008

Garuda, the car that runs 180 km per litre: Rediff

RBI panel suggests interest rate futures :UTVi

US mkts end higher (303 pts up) on strong Dollar, Oil drop

ET Top stories

08 August 2008

World's 10 top management gurus

Govt eyes $10bn from BSNL public offer

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