'Crack' is showing, RIL struggles below Rs 2,000
Shares of Reliance Industries (RIL), India largest-private sector company, continued its slide on Friday on rising concerns over the oil and gas major's profitability. The stock shed over 3% to close at Rs 1,931.40, closing below the psychological Rs 2,000-mark for the second successive session. Analysts expect RIL’s bottomline and operating margins to be hit by the falling crude oil and crack prices, globally. Cracks such as diesel, jet fuel and gasoline are the products derived from refining crude oil.
Fears that the global economy is headed for recession and hurricane Gustav not being as worse as previously imagined has brought down oil prices to $101 from near $150 levels a few weeks back. This and the finished product mix of RIL will lead to weakening in gross refining margins (GRM) of RIL, analysts opine.
During the past couple of months, gas oil (diesel) cracks have come down while those of fuel oil have risen. However, since RIL does not process crude into fuel oil, it will be more hard-pressed than other refiners, a official with a oil firm said. “Simply put, the Reliance gross refining margin faces more downward pressure in the second quarter (July-Sept) than other refiners’ GRM which have fuel oil as part of their product basket,” the official said. Diesel, jet fuel and gasoline are among the major products sold by RIL.
According to the market talk, few analysts have downgraded their price targets for the RIL stock, which today vary from Rs 1,900 to Rs 3,800. However, as per Bloomberg data, only two analysts have a “sell” rating of the on the stock company. One of them, Sanjeev Prasad of Kotak says that his firm sees potential downside risks to its earnings estimates of RIL, since its earnings are highly sensitive to refining margins and weaker-than-expected margins could significantly impact their earnings.
“We could see a short-term rebound from current very low levels but we believe that refining margins will likely remain weak for the next 12 months at least led by weak global demand and large refining capacity additions later in the current year,” Mr Prasad wrote recently in a note to clients.
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S&P affirms Vedanta Resources; Outlook revised to stable
Buy Aban Offshore for target Rs 3,569: Sharekhan
Analysts' pick: Kamat Hotels
Analysts' pick: AIA Engineering
Sharekhan maintains 'buy' on Unity Infraprojects for target Rs 871
Analysts' pick: Bajaj Hindustan
Analysts' pick: Container Corp
Tatas to rollout 1,000 Nanos from Pune plant
NRL posts Rs 374 crore net profit
IFCI wants clarity on govt debt before stake sale
NMDC to invest $4.3 bln on capacity expansion
India Apr-Aug indirect tax receipts up 10.5 pc y/y
Indirect tax collections touch Rs 1,12,643 cr
Datatec acquires 50.01% stake in Inflow Technologies
TCS to holds 50% in power exchange
Heard on the Street
Canara HSBC Life charts new path to quick profits
IT stocks turn bearish, pull Sensex down to 14,000
Forex reserves down $6.5 b
Markets this week(Latest Audio:English)
Source:ET,BL
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13 September 2008
12 September 2008
Industrial growth at 7.1% in July
Industrial growth at 7.1% in July
Industrial growth recovered to 7.1 per cent in July from the dismal performance in previous two months of the current fiscal, even though it moderated compared with 8.3 per cent recorded a year ago.
The improved data may give some breather to the Government and RBI, struggling hard to check the double-digit inflation through tightening monetary policy, which hampers the growth process.
While the manufacturing, which contributes about 80 per cent to IIP, grew by 7.5 per cent in July, compared with 8.8 per cent a year ago, electricity generation was up by 4.5 per cent, against 7.5 per cent.
Mining output growth, however, was quite higher at 5 per cent from 3.2 per cent a year ago. The growth in industrial production, as measured by the Index of Industrial Production (IIP), was low at 3.8 per cent in May and 5.4 per cent in June.
In April, however, industrial growth stood at 7 per cent, more or less same as in July. As such, industrial growth turned out to be 5.7 per cent in the first four months of this fiscal, against 9.7 per cent a year ago.
The data came close to first quarterly economic growth figures at 7.9 per cent and would play a crucial role for the GDP figures for the next quarter. If, this trend continues and other sectors like agriculture and services also contribute, GDP figure ma y be quite higher for the second quarter, analysts said. - PTI
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Other stories:
India intrigued by Bush observation on fuel supply
Sensex sheds 323pts; tech, realty stocks tank
Industrial production dips to 7.1% y-o-y
Source:ET,BS,BL.
Mkt shrugs off IIP, fear of slowdown weighs, Sensex dn 323 pts
| SENSEX | 14000.81 | -323.48 |
| NIFTY | 4228.45 | -61.85 |
Markets tumbled in late trade on Friday as players frenziedly sold frontline IT, realty and oil & gas stocks. The BSE 30-share Sensex closed weaker by 2.26 per cent at 14,000 and NSE's Nifty ended down 1.44 per cent at 4228.
“The upbeat cues from global markets, better than expected IIP data and easing inflation failed to lift investor sentiment as weak data from Europe and China increased concerns over global economic slowdown," said Sachin Advani, analyst with Raxson Wealth Management.
Top losers from the Sensex were, Reliance Infra (-6.32%), Infosys (-6%) and ICICI Bank (-4.89%). Top gainers were Maruti Suzuki (3.61%), BHEL (1.92%) and Hindustan Unilever (0.83%). The index advance-declines ratio was 1:5.
Though the rupee depreciated to a 2-year low against the dollar, IT stocks tumbled on investment bank UBS saying a sharp appreciation in the dollar against the British pound and euro would hit IT firms' revenue in dollar terms by 1-2 per cent and following the collapse of Lehman Brothers.
As per the European Union Statistics, output in the 15-nation euro area fell 0.3 per cent in July, its third consecutive drop, and employment growth eased to 0.2 per cent in the second quarter from 0.3 per cent in the first.
China's industrial production grew at the slowest pace in six years. The industrial output rose to 12.8 per cent in August against 14.7 per cent in July.
IIP Data
India’s Index for Industrial Production grew by 7.1 per cent in July compared with 8.3 per cent a year ago. Capital goods grew 21.9 per cent compared with 12.3 per cent in the same period previous year.
“IIP numbers for July have come as positive surprise. The figures are encouraging and supported by growth across sectors. The robust growth in capital goods segment by 21.9 per cent (on higher base of 12.3%) support the fact that though there have been some signs of slowing in investment, it has not been severely impacted. However, perhaps the biggest surprise came from consumer durable goods segment which grew by 11.2 per cent against negative growth of 2.7 per cent last year. The 22 month high growth in consumer durables suggests that in spite of higher interest rate regime there has been demand growth from consumers," said, Krupresh Thakkar, research analyst at India Capital Markets.
Inflation Cooling
Wholesale price index based inflation fell--for the straight third week--to 12.1 per cent for the week ended August 30, from 12.34 per cent a week ago.
“Though the headline inflation number - WPI has been lower at 12.10 per cent compared to 12.34 per cent in previous week, it is owing to the higher base effect (last year, for the same period the inflation index had gone up by 0.42 bps or 9 ticks on weekly basis). When we look at the weekly numbers, we observe that there has been rise in weekly inflation numbers by 0.29 bps. Going forward, we feel that inflation concerns would continue for some more time (especially in manufacturing group) before it starts to cool down from end of third quarter," Thakkar added.
“The upbeat cues from global markets, better than expected IIP data and easing inflation failed to lift investor sentiment as weak data from Europe and China increased concerns over global economic slowdown," said Sachin Advani, analyst with Raxson Wealth Management.
Top losers from the Sensex were, Reliance Infra (-6.32%), Infosys (-6%) and ICICI Bank (-4.89%). Top gainers were Maruti Suzuki (3.61%), BHEL (1.92%) and Hindustan Unilever (0.83%). The index advance-declines ratio was 1:5.
Though the rupee depreciated to a 2-year low against the dollar, IT stocks tumbled on investment bank UBS saying a sharp appreciation in the dollar against the British pound and euro would hit IT firms' revenue in dollar terms by 1-2 per cent and following the collapse of Lehman Brothers.
As per the European Union Statistics, output in the 15-nation euro area fell 0.3 per cent in July, its third consecutive drop, and employment growth eased to 0.2 per cent in the second quarter from 0.3 per cent in the first.
China's industrial production grew at the slowest pace in six years. The industrial output rose to 12.8 per cent in August against 14.7 per cent in July.
IIP Data
India’s Index for Industrial Production grew by 7.1 per cent in July compared with 8.3 per cent a year ago. Capital goods grew 21.9 per cent compared with 12.3 per cent in the same period previous year.
“IIP numbers for July have come as positive surprise. The figures are encouraging and supported by growth across sectors. The robust growth in capital goods segment by 21.9 per cent (on higher base of 12.3%) support the fact that though there have been some signs of slowing in investment, it has not been severely impacted. However, perhaps the biggest surprise came from consumer durable goods segment which grew by 11.2 per cent against negative growth of 2.7 per cent last year. The 22 month high growth in consumer durables suggests that in spite of higher interest rate regime there has been demand growth from consumers," said, Krupresh Thakkar, research analyst at India Capital Markets.
Inflation Cooling
Wholesale price index based inflation fell--for the straight third week--to 12.1 per cent for the week ended August 30, from 12.34 per cent a week ago.
“Though the headline inflation number - WPI has been lower at 12.10 per cent compared to 12.34 per cent in previous week, it is owing to the higher base effect (last year, for the same period the inflation index had gone up by 0.42 bps or 9 ticks on weekly basis). When we look at the weekly numbers, we observe that there has been rise in weekly inflation numbers by 0.29 bps. Going forward, we feel that inflation concerns would continue for some more time (especially in manufacturing group) before it starts to cool down from end of third quarter," Thakkar added.
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Source:ET
Google's amazing journey
The $19 billion search giant Google is just ten years old , but it has outclassed its competitors - namely Microsoft and Yahoo! - in the online world.
The company today has a host of enviable offerings - Google search, Gmail, Page Rank, Adsense, Google Mobile, Google Earth, Google Maps, Google Docs, Orkut, Blogger, YouTube, Android (a platform for mobiles), Cloud Computing initiatives, and now Chrome.
Text: Business Standard
Image: This is where it all started 10 years ago. This is the house where Google co-founders Larry Page and Sergey Brin rented the garage to set up Google Photograph: Justin Sullivan/Getty Images
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It even has a patent for a "floating data centre". Moreover, it is learning how to monetise these; the figures do the talking. Google has a market value of over $130 billion and cash reserves of around $13 billion.
It employs 20,000 people worldwide, including in India. Its co-founders, Larry Page and Sergey Brin - both 35 now - are worth nearly $19 billion apiece.
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Google's start, though, was not smooth. Mr Page and Mr Brin did not hit it off immediately.
In fact it is said that they often had arguments while they were students at Stanford University, which they set aside to grow the company.
For more Visit:Google's amazing journey
Source:ET
11 September 2008
Sensex extends losing streak, ends 338 pts down
Sensex extends losing streak, ends 338 pts down
The bears went on a rampage on the major Indian bourses for the third successive session as global markets dampened investor sentiment today. But then, with Asian markets tumbling on concerns over mounting credit losses, the trend back home was not expected to be any different.
Trading in the red right through the session, the Sensex ended with a huge loss of 338.32 points or 2.31% at 14,324.29. The barometer, which opened with a negative gap of over 100 points at 14,557.33, plunged to a low of 14,265.38 in afternoon trade today. The Nifty, which breached a few crucial support levels, touched a low of 4272.75 and settled at 4290.30 with a loss of 109.95 points or 2.5% at 4290.30.
Stocks cutting across sectors were seen struggling for support today. However, losses posted by oil, realty, power and capital goods stocks were more pronounced. PSU, bank, metal and pharma stocks closed with sharp losses. IT and auto stocks managed to buck the trend for a while before they too drifted down due to lack of support at higher levels.
Among Sensex stocks, only Tata Motors (1.35%) and Ranbaxy Laboratories (0.25%) closed in the positive territory. Nifty stock Punjab National Bank (0.55%) ended with a modest gain.
Bharti Airtel ended with a loss of 4.4%. Reliance Infrastructure eased by 4.15%. Reliance Industries on unconfirmed reports that the government may recommend a levy of export tax or ban petroleum exports from its Jamnagar facility.
ONGC, Tata Power, DLF, Jaiprakash Associates, Mahindra & Mahindra, BHEL, NTPC, Maruti Suzuki, HDFC and ICICI Bank lost 2% - 4%. Hindalco, HDFC Bank, Larsen & Toubro, Tata Consultancy Services, ITC, State Bank of India, Tata Steel, ACC, Grasim Industries, Hindustan Unilever, Reliance Communications, Wipro and Sterlite Industries also ended with sharp losses. Infosys Technologies and Satyam Computer Services ended with modest losses.
Suzlon Energy, HCL Technologies, Zee Entertainment, Sun Pharmaceuticals, Ambuja Cements, Power Grid Corporation, SAIL, Cipla, Reliance Petroleum, ABB, Cairn India, Idea Cellular, Tata Communications, Siemens and Nalco closed on a weak note.
Bajaj Finance, KSK Energy, India Bulls Financial Services, Yes Bank, REI Agro, Reliance Capital, India Bulls Real Estate, Voltas, Jai Corp, Mangalore Refineries & Petrochemicals, IVRCL Infrastructure and Sesa Goa were some of the prominent losers from BSE 'A' Group.
A number of midcap and smallcap stocks also posted sharp losses. The market breadth was weak once again. On BSE, declines outscored advances by 2 to 1.
----------------------------------------
Stocks end sharply lower as global credit worries haunt
Nifty September premium falls; spot ends below 4300
Rupee dips by another 34 paise to hit 23-month low
SAIL to set up 4 processing units
Gold slides on weak global cues
Oil falls as Ike strengthens to Texas
Entrepreneurs lose Rs 1,200 cr per day due to power cuts
Insurers beat FIIs on bourses
The Web billionaires
GMR Energy to acquire coal mines in Indonesia, Africa
Infosys renews insurance policy worth Rs 24K crore
NTPC in JV for 1,980 MW power plant
Orchid will sell 15-20% stake in research unit
Gujarat NRE plans rights issue at Rs 1,000/shr
India in talks with US companies on nuclear trade
Indian crude at $99, oil firms relieved
Govt re-starts attempts to sell IFCI stake
Banks sitting on Rs 1,200 cr in idle a/c
HCL follows Future Group, plans $1 bn venture fund
GMR to invest Rs 10K cr to set up nuclear power plant
Essar Oil to raise $5 bn loan from 4 banks
Indian Hotels up room rent by 8-10 pc from Sept 1
Raj TV plans print foray, to raise funds - paper
Aviva to have 49% foreign stake when govt raises FDI ceiling
Velankani group to set up Rs 13 bn SEZ in Sriperumbudur
Trade likely weak ahead of IIP, SGX Nifty at 88 pts discount
Aviva Life Insurance raises capital base by Rs 344 cr
India PC market records 2.085 mn shipments in 2Q 2008, overall 8.1% growth
Poverty in India declines by 27 %: UN
Source:ET, Sify, BS, BL etc
The bears went on a rampage on the major Indian bourses for the third successive session as global markets dampened investor sentiment today. But then, with Asian markets tumbling on concerns over mounting credit losses, the trend back home was not expected to be any different.
Trading in the red right through the session, the Sensex ended with a huge loss of 338.32 points or 2.31% at 14,324.29. The barometer, which opened with a negative gap of over 100 points at 14,557.33, plunged to a low of 14,265.38 in afternoon trade today. The Nifty, which breached a few crucial support levels, touched a low of 4272.75 and settled at 4290.30 with a loss of 109.95 points or 2.5% at 4290.30.
Stocks cutting across sectors were seen struggling for support today. However, losses posted by oil, realty, power and capital goods stocks were more pronounced. PSU, bank, metal and pharma stocks closed with sharp losses. IT and auto stocks managed to buck the trend for a while before they too drifted down due to lack of support at higher levels.
Among Sensex stocks, only Tata Motors (1.35%) and Ranbaxy Laboratories (0.25%) closed in the positive territory. Nifty stock Punjab National Bank (0.55%) ended with a modest gain.
Bharti Airtel ended with a loss of 4.4%. Reliance Infrastructure eased by 4.15%. Reliance Industries on unconfirmed reports that the government may recommend a levy of export tax or ban petroleum exports from its Jamnagar facility.
ONGC, Tata Power, DLF, Jaiprakash Associates, Mahindra & Mahindra, BHEL, NTPC, Maruti Suzuki, HDFC and ICICI Bank lost 2% - 4%. Hindalco, HDFC Bank, Larsen & Toubro, Tata Consultancy Services, ITC, State Bank of India, Tata Steel, ACC, Grasim Industries, Hindustan Unilever, Reliance Communications, Wipro and Sterlite Industries also ended with sharp losses. Infosys Technologies and Satyam Computer Services ended with modest losses.
Suzlon Energy, HCL Technologies, Zee Entertainment, Sun Pharmaceuticals, Ambuja Cements, Power Grid Corporation, SAIL, Cipla, Reliance Petroleum, ABB, Cairn India, Idea Cellular, Tata Communications, Siemens and Nalco closed on a weak note.
Bajaj Finance, KSK Energy, India Bulls Financial Services, Yes Bank, REI Agro, Reliance Capital, India Bulls Real Estate, Voltas, Jai Corp, Mangalore Refineries & Petrochemicals, IVRCL Infrastructure and Sesa Goa were some of the prominent losers from BSE 'A' Group.
A number of midcap and smallcap stocks also posted sharp losses. The market breadth was weak once again. On BSE, declines outscored advances by 2 to 1.
----------------------------------------
Stocks end sharply lower as global credit worries haunt
Nifty September premium falls; spot ends below 4300
Rupee dips by another 34 paise to hit 23-month low
SAIL to set up 4 processing units
Gold slides on weak global cues
Oil falls as Ike strengthens to Texas
Entrepreneurs lose Rs 1,200 cr per day due to power cuts
Insurers beat FIIs on bourses
The Web billionaires
GMR Energy to acquire coal mines in Indonesia, Africa
Infosys renews insurance policy worth Rs 24K crore
NTPC in JV for 1,980 MW power plant
Orchid will sell 15-20% stake in research unit
Gujarat NRE plans rights issue at Rs 1,000/shr
India in talks with US companies on nuclear trade
Indian crude at $99, oil firms relieved
Govt re-starts attempts to sell IFCI stake
Banks sitting on Rs 1,200 cr in idle a/c
HCL follows Future Group, plans $1 bn venture fund
GMR to invest Rs 10K cr to set up nuclear power plant
Essar Oil to raise $5 bn loan from 4 banks
Indian Hotels up room rent by 8-10 pc from Sept 1
Raj TV plans print foray, to raise funds - paper
Aviva to have 49% foreign stake when govt raises FDI ceiling
Velankani group to set up Rs 13 bn SEZ in Sriperumbudur
Trade likely weak ahead of IIP, SGX Nifty at 88 pts discount
Aviva Life Insurance raises capital base by Rs 344 cr
India PC market records 2.085 mn shipments in 2Q 2008, overall 8.1% growth
Poverty in India declines by 27 %: UN
Source:ET, Sify, BS, BL etc
Inflation drops to 12.10%
Inflation drops to 12.10%
Inflation dips further to 12.1 per cent
Inflation fell for the third week in succession to close at 12.10 per cent as on August 30 from 12.34 per cent recorded a week earlier as prices of most food articles moderated. As per a poll on Wednesday, India's annual inflation rate was expected to have eased for the third consecutive week, with respite provided by softening of global crude prices. The wholesale price index was forecast to have risen 11.96 per cent in the 12 months to August 30, lower than the previous week’s rise of 12.34 per cent, according to the median estimate of 13 economists. Shubhada Rao, chief economist at Yes Bank, for instance, who forecast 11.96 per cent, said a relatively higher reading a year earlier would also limit the number. “Recent weeks have seen inflation stabilise. We expect it to peak in the third quarter and given the current trend it may peak around 13 per cent,” she said.
Talking about the softening inflation, commerce minister Kamal Nath last week had said the government’s supply-side measures had begun to take effect and inflation should soften from the current levels. The finance ministry also believes inflation will come down to single digit by the end of this fiscal if oil prices keep softening in the international markets. "If oil prices go below $100 per barrel, the wholesale price index inflation will even come down to 5-6 per cent by the end of the current fiscal,” Arvind Virmani, chief economic adviser in the finance ministry, told a news agency recently. "I am reasonably confident that within a year, inflation will be back to normal. In the short-term, it depends on oil prices to a large extent and we have seen oil prices coming down,” he said. He also said food price inflation has not been that severe in India when compared with the global situation, as prices of primary food articles such as fruits, vegetables, tea and lentils had gone up by 6.04 per cent during the 52-week period ended Aug 23. "It is partly because of the nature of our economy, which is still isolated from the global situation except in one or two commodities like edible oils as we import some 60 per cent-plus of our overall edible oil requirements,” he said.
Source:ET
Inflation dips further to 12.1 per cent
Inflation : 12.10 % Vs 12.34%
Inflation fell for the third week in succession to close at 12.10 per cent as on August 30 from 12.34 per cent recorded a week earlier as prices of most food articles moderated. As per a poll on Wednesday, India's annual inflation rate was expected to have eased for the third consecutive week, with respite provided by softening of global crude prices. The wholesale price index was forecast to have risen 11.96 per cent in the 12 months to August 30, lower than the previous week’s rise of 12.34 per cent, according to the median estimate of 13 economists. Shubhada Rao, chief economist at Yes Bank, for instance, who forecast 11.96 per cent, said a relatively higher reading a year earlier would also limit the number. “Recent weeks have seen inflation stabilise. We expect it to peak in the third quarter and given the current trend it may peak around 13 per cent,” she said.
Talking about the softening inflation, commerce minister Kamal Nath last week had said the government’s supply-side measures had begun to take effect and inflation should soften from the current levels. The finance ministry also believes inflation will come down to single digit by the end of this fiscal if oil prices keep softening in the international markets. "If oil prices go below $100 per barrel, the wholesale price index inflation will even come down to 5-6 per cent by the end of the current fiscal,” Arvind Virmani, chief economic adviser in the finance ministry, told a news agency recently. "I am reasonably confident that within a year, inflation will be back to normal. In the short-term, it depends on oil prices to a large extent and we have seen oil prices coming down,” he said. He also said food price inflation has not been that severe in India when compared with the global situation, as prices of primary food articles such as fruits, vegetables, tea and lentils had gone up by 6.04 per cent during the 52-week period ended Aug 23. "It is partly because of the nature of our economy, which is still isolated from the global situation except in one or two commodities like edible oils as we import some 60 per cent-plus of our overall edible oil requirements,” he said.
Source:ET
What is the Big Bang?
What is the Big Bang?
The European Organisation for Nuclear Research, known as CERN, will on Wednesday begin an experiment to recreate conditions just after the Big Bang, which scientists believe gave birth to the universe. ( Watch ) Its Large Hadron Collider (LHC) will seek to collide two beams of particles at close to the speed of light. Scientists plan to circulate a beam in one direction around the accelerator on Sept. 10, and later send beams both ways to cause collisions. Following are some facts about the Big Bang and CERN's particle-smashing experiment:
RECREATING THE BIG BANG: The final tests involved pumping a single bunch of energy particles from the project's accelerator into the 27-km (17-mile) beam pipe of the collider and steering them counter- clockwise around it for about 3 km (2 miles). The collider aims to simulate conditions milliseconds after the "Big Bang" which created the universe around 13.7 billion years ago. The collisions, in which both particle clusters will be travelling at the speed of light, will be monitored on computers at CERN and laboratories around the world by scientists looking for, among other things, a particle that made life possible. The elusive particle, which has been dubbed the "Higgs Boson" after Scottish physicist Peter Higgs who first postulated nearly 50 years ago that it must exist, is thought to be the mysterious factor that holds matter together.
WHAT IS THE BIG BANG? Recreating a "Big Bang," which most scientists believe is the only explanation of an expanding universe, ought to show how stars and planets came together out of the primeval chaos that followed, the CERN team believes. Its essential feature is the emergence of the universe from a tiny speck about the size of a coin but in a state of extremely high temperature and density. The name "Big Bang" was coined in 1949 by British scientist Fred Hoyle to disparage a then emerging theory about origins that countered his own "steady state" view: that the universe had always existed and was evolving but not expanding. According to the Big-Bang model, the universe expanded rapidly from a highly compressed primordial state, which resulted in a significant decrease in density and temperature. Soon afterward, the dominance of matter over antimatter (as observed today) may have been established by processes that also predict proton decay. During this stage many types of elementary particles may have been present. After a few seconds, the universe cooled enough to allow the formation of certain nuclei. The theory predicts that definite amounts of hydrogen, helium, and lithium were produced. Their abundances agree with what is observed today. About 1,000,000 years later the universe was sufficiently cool for atoms to form.
WHAT IS CERN: CERN, the European Organisation for Nuclear Research, is one of the world's largest and most respected centres for scientific research. Its business is fundamental physics, finding out what the Universe is made of and how it works. Founded in 1954, the CERN Laboratory sits astride the Franco-Swiss border near Geneva. It was one of Europe's first joint ventures and now has 20 Member States, plus 6 actively participant observers including the United States and Russia.
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Kalam says'Big Bang 'experiment' spells no trouble. - Yahoo! India ...
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Big Bang scientists rubbish doomsday reports - National News ...
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'Doomsday' rumour sets off panic -India-The Times of India
Source: All webs from the world.
The European Organisation for Nuclear Research, known as CERN, will on Wednesday begin an experiment to recreate conditions just after the Big Bang, which scientists believe gave birth to the universe. ( Watch ) Its Large Hadron Collider (LHC) will seek to collide two beams of particles at close to the speed of light. Scientists plan to circulate a beam in one direction around the accelerator on Sept. 10, and later send beams both ways to cause collisions. Following are some facts about the Big Bang and CERN's particle-smashing experiment:
RECREATING THE BIG BANG: The final tests involved pumping a single bunch of energy particles from the project's accelerator into the 27-km (17-mile) beam pipe of the collider and steering them counter- clockwise around it for about 3 km (2 miles). The collider aims to simulate conditions milliseconds after the "Big Bang" which created the universe around 13.7 billion years ago. The collisions, in which both particle clusters will be travelling at the speed of light, will be monitored on computers at CERN and laboratories around the world by scientists looking for, among other things, a particle that made life possible. The elusive particle, which has been dubbed the "Higgs Boson" after Scottish physicist Peter Higgs who first postulated nearly 50 years ago that it must exist, is thought to be the mysterious factor that holds matter together.
WHAT IS THE BIG BANG? Recreating a "Big Bang," which most scientists believe is the only explanation of an expanding universe, ought to show how stars and planets came together out of the primeval chaos that followed, the CERN team believes. Its essential feature is the emergence of the universe from a tiny speck about the size of a coin but in a state of extremely high temperature and density. The name "Big Bang" was coined in 1949 by British scientist Fred Hoyle to disparage a then emerging theory about origins that countered his own "steady state" view: that the universe had always existed and was evolving but not expanding. According to the Big-Bang model, the universe expanded rapidly from a highly compressed primordial state, which resulted in a significant decrease in density and temperature. Soon afterward, the dominance of matter over antimatter (as observed today) may have been established by processes that also predict proton decay. During this stage many types of elementary particles may have been present. After a few seconds, the universe cooled enough to allow the formation of certain nuclei. The theory predicts that definite amounts of hydrogen, helium, and lithium were produced. Their abundances agree with what is observed today. About 1,000,000 years later the universe was sufficiently cool for atoms to form.
WHAT IS CERN: CERN, the European Organisation for Nuclear Research, is one of the world's largest and most respected centres for scientific research. Its business is fundamental physics, finding out what the Universe is made of and how it works. Founded in 1954, the CERN Laboratory sits astride the Franco-Swiss border near Geneva. It was one of Europe's first joint ventures and now has 20 Member States, plus 6 actively participant observers including the United States and Russia.
Kalam allays fears of 'Dooms Day'
Geneva experiment not disastrous: Scientists
To mimic the Big Bang one has to collide heavy elements like lead on lead or gold on gold, which will be done next year.
First major test successful What is the Big Bang?
Girl kills self over Big Bang fear Indian behind Big Bang
Atom-smasher starts with a big bang
Big Bang - Wikipedia, the free encyclopedia
Big Bang Theory
Big Bang Philosophy
Cern experiment: Machine switched on. No Big Bang. It works
Big Bang Boom
Celebrations Over £5bn Big Bang
Scientists launch "Big Bang" experiment
Trying To Make A Big Bang
Black holes provide a big bang of publicity for CERN
Successful test for Europe's Big Bang collider
Big Bang experiment begins, all well on Day 1
Scientists hope for surprises in Big Bang experiment U.S. Reuters
BBC NEWS Science/Nature 'Big Bang' experiment starts well
'Big Bang' experiment/ Big Bang experiment gets underway - Sify.com
India's role in 'Big Bang' experiment
WRS CERN fires up ‘Big Bang’ experiment
Big Bang experiment goes on, proves rumours wrong - Express India
Big Bang experiment starts and the world doesn't end...yet ...
Digg - Big Bang Experiment Starts
Inside the big-bang machine - Cosmic Log - msnbc.com
Success for Big Bang experiment
Kalam says'Big Bang 'experiment' spells no trouble. - Yahoo! India ...
YouTube - Big Bang experiment - Large Hadron Collider
Zee News - Big Bang Experiment, End of World, LHC Experiment
Big Bang experiment creates excitement, fear - NewsCloud.com
How important is the Big Bang experiment? - The Student Room
Q&A: The Big Bang Machine
Local Perspective on the Big Bang Theory Experiment
Local Scientist Talks about 'Big Bang Project'
Researchers Hope To Artificially Create Effects Of "Big Bang ...
Big Bang scientists rubbish doomsday reports - National News ...
Big Bang on earth but no Doomsday
Big-bang machine raises doomsday fears
Big Bang machine could destroy Earth
'Doomsday' rumour sets off panic -India-The Times of India
Source: All webs from the world.
10 September 2008
Sensex loses 238 pts on rupee jolt, Lehman loss
Sensex loses 238 pts on rupee jolt, Lehman loss
SENSEX 14662.61 -238.15
NIFTY 4400.25 -68.45
Indian equities continued their slide on Wednesday at a faster rate, as bad news poured in from world markets. European stocks weakened after the European Commission expressed doubts over the region’s economic growth and a possibility of further doom in the banking sector. Leading US investment bank Lehman Brothers Holdings reported a third quarter net loss of $3.9 billion — the biggest in its 158-year history.
It now plans to sell a majority stake in its asset-management unit, spin off commercial real-estate holdings and cut dividend in an effort to shore up capital. Back home, the rupee hit a 2-year low, breaching the psychological 45-mark to the dollar in the process, spelling further bad news for the economy as a whole. Metal and oil & gas stocks were the worst performers, as the 30-share Sensex fell 238.15 points on Wednesday to close at 14,662.61.
All the BSE sectoral indices ended in the negative with the metal index plunging over 5%. Analysts opine that the commodity cycle is in a downturn phase and consequently the companies are likely to face a pressure on earnings. The S&P CNX Nifty slipped 68.45 points to close at 4400.25. The BSE mid and small-cap lost over 60 points each to close at 5,708.93 and 6,903.42, respectively. The slide in the rupee, however, failed to energise IT shares, with the BSE IT index closing marginally below its previous close.
Dealers say worsening financial conditions in the US would impact the revenue of IT companies, hurting their growth. “The balance of payments dynamics and US dollar strength will cause the rupee to weaken. We expect the rupee to weaken against the dollar to 46-47 by December 2008, but it will likely pull back to 45 by March 2009,” said Macquarie Research in a note to its clients. “Be prepared for more aggressive intervention by RBI in the forex market. Also, the government is likely to ease restrictions on capital inflows in order to check the pace of the rupee’s depreciation,” the noted added. On the global front, OPEC in Vienna decided to reduce supplies by 500,000 barrels a day. Consequently, crude oil for October rose as much as $1.56 to $104.82 a barrel on the New York Mercantile Exchange (NYMEX). The last trading price at the exchange was $101.67 a barrel on Wednesday. “Domestic market has factored in the receding oil prices. If they fall below $90 a barrel, there could be a rally in the indices, but it won’t be a sustained one. In the near term, the range would continue to be between 4,400 and 4,700,” said India Infoline head-research Amar Ambani. Market breadth continued to be weak with retreating stocks outnumbering gainers nearly two for one. Total turnover in markets was close to Rs 70,000 crore, a rise of Rs 10,000 crore over the previous close. However, the improvement in volumes is of little cheer as foreign funds continue to dump stocks. As per provisional data, they net sold Rs 1,037 crore shares on Wednesday. Domestic institutions cushioned the sales to some extent, with net purchases of Rs 492 crore. Markets across the Asia-Pacific ended on a mixed note. China’s Shanghai Composite index advanced 0.2% and South Korea’s KOSPI Composite index gained 0.7%, while Japan’s Nikkei 225 index ended down 0.4% and Hong Kong’s Hang Seng index lost 2.4%.
Sensex loses nearly 225 pts; Nifty slips by 63 pts @ 14:22 hrs
Rupee breaches crucial 45-level
L&T gets $160 m order from Petrobras
Era Infra bags Rs 130 cr order from AAI
Usher Agro signs pact with Japanese company
OPEC resorts to output cut; Oil jumps $1
Core infrastructure sector growth slips to 3.7%
SEL Manufacturing to invest Rs 500 cr in textile park
Educomp buys 50% in EuroKids for Rs 39 cr
Vedanta in $9.8 b plan; trifurcates biz
Wary market weighed down by Lehman, inflation, IIP
Short build up in Nifty; call writing at 4400-4500
Tata Power to add 10,000 MW in next five years
L&T bags Rs 723-cr order from Petrobras
Omaxe launches Rs 800-cr township
Equities end lower ahead of inflation; IIP data
Source:Sift, ET
SENSEX 14662.61 -238.15
NIFTY 4400.25 -68.45
Indian equities continued their slide on Wednesday at a faster rate, as bad news poured in from world markets. European stocks weakened after the European Commission expressed doubts over the region’s economic growth and a possibility of further doom in the banking sector. Leading US investment bank Lehman Brothers Holdings reported a third quarter net loss of $3.9 billion — the biggest in its 158-year history.
It now plans to sell a majority stake in its asset-management unit, spin off commercial real-estate holdings and cut dividend in an effort to shore up capital. Back home, the rupee hit a 2-year low, breaching the psychological 45-mark to the dollar in the process, spelling further bad news for the economy as a whole. Metal and oil & gas stocks were the worst performers, as the 30-share Sensex fell 238.15 points on Wednesday to close at 14,662.61.
All the BSE sectoral indices ended in the negative with the metal index plunging over 5%. Analysts opine that the commodity cycle is in a downturn phase and consequently the companies are likely to face a pressure on earnings. The S&P CNX Nifty slipped 68.45 points to close at 4400.25. The BSE mid and small-cap lost over 60 points each to close at 5,708.93 and 6,903.42, respectively. The slide in the rupee, however, failed to energise IT shares, with the BSE IT index closing marginally below its previous close.
Dealers say worsening financial conditions in the US would impact the revenue of IT companies, hurting their growth. “The balance of payments dynamics and US dollar strength will cause the rupee to weaken. We expect the rupee to weaken against the dollar to 46-47 by December 2008, but it will likely pull back to 45 by March 2009,” said Macquarie Research in a note to its clients. “Be prepared for more aggressive intervention by RBI in the forex market. Also, the government is likely to ease restrictions on capital inflows in order to check the pace of the rupee’s depreciation,” the noted added. On the global front, OPEC in Vienna decided to reduce supplies by 500,000 barrels a day. Consequently, crude oil for October rose as much as $1.56 to $104.82 a barrel on the New York Mercantile Exchange (NYMEX). The last trading price at the exchange was $101.67 a barrel on Wednesday. “Domestic market has factored in the receding oil prices. If they fall below $90 a barrel, there could be a rally in the indices, but it won’t be a sustained one. In the near term, the range would continue to be between 4,400 and 4,700,” said India Infoline head-research Amar Ambani. Market breadth continued to be weak with retreating stocks outnumbering gainers nearly two for one. Total turnover in markets was close to Rs 70,000 crore, a rise of Rs 10,000 crore over the previous close. However, the improvement in volumes is of little cheer as foreign funds continue to dump stocks. As per provisional data, they net sold Rs 1,037 crore shares on Wednesday. Domestic institutions cushioned the sales to some extent, with net purchases of Rs 492 crore. Markets across the Asia-Pacific ended on a mixed note. China’s Shanghai Composite index advanced 0.2% and South Korea’s KOSPI Composite index gained 0.7%, while Japan’s Nikkei 225 index ended down 0.4% and Hong Kong’s Hang Seng index lost 2.4%.
Sensex loses nearly 225 pts; Nifty slips by 63 pts @ 14:22 hrs
Rupee breaches crucial 45-level
L&T gets $160 m order from Petrobras
Era Infra bags Rs 130 cr order from AAI
Usher Agro signs pact with Japanese company
OPEC resorts to output cut; Oil jumps $1
Core infrastructure sector growth slips to 3.7%
SEL Manufacturing to invest Rs 500 cr in textile park
Educomp buys 50% in EuroKids for Rs 39 cr
Vedanta in $9.8 b plan; trifurcates biz
Wary market weighed down by Lehman, inflation, IIP
Short build up in Nifty; call writing at 4400-4500
Tata Power to add 10,000 MW in next five years
L&T bags Rs 723-cr order from Petrobras
Omaxe launches Rs 800-cr township
Equities end lower ahead of inflation; IIP data
Source:Sift, ET
Dow Jones falls 280 pts on Lehman, Energy stks
US STOCKS-Wall Street skids on Lehman worries, energy
Index Value: 11,230.73
Trade Time:4:06PM ET
Change: -280.01 (-2.43%)
Prev Close: 11,510.74
Open: 11,514.73
Day's Range: 11230.73 - 11577.50
NEW YORK, Sept 9 (Reuters) - U.S. stocks finished sharply lower on Tuesday, with the benchmark S&P 500 suffering its worst percentage decline since late February 2007, as financial shares sold off on worries about Lehman Brothers' (LEH.N: Quote, Profile, Research, Stock Buzz) ability to raise much-needed cash.
A tumble in crude oil prices hit shares of energy companies, including Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) , compounding the market's losses as the euphoria tied to the bailout of Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FNM.N: Quote, Profile, Research, Stock Buzz) evaporated.
Based on the latest available data, the Dow Jones industrial average .DJI fell 280.01 points, or 2.43 percent, to close unofficially at 11,230.73.
The Standard & Poor's 500 Index .SPX dropped 43.28 points, or 3.41 percent, to end unofficially at 1,224.51. The Nasdaq Composite Index .IXIC slid 59.95 points, or 2.64 percent, to end unofficially at 2,209.81. (Reporting by Ellis Mnyandu; Editing by Leslie Adler) .
----------------------------------------------
Top Stories
http://finance.yahoo.com/
Stocks Thrashed as Lehman Shares Plunge 45 Percent- AP
Wall Street ends the day with a deep loss on fresh concerns about the stability of Lehman Brothers, with the Dow losing nearly 300 points.
Lehman Sinks Over 40 Percent on Capital Concerns- Reuters
Oil Down as Ike Shifts Course, OPEC Mulls Output- AP
July Pending Home Sales Fall More Than Expected- AP
Budget Deficit Nears Record Under Latest Estimates- AP
AIG Falls on Fresh Mortgage Market Concerns- Reuters
Dollar Slides as Lehman Worries Stir Up Markets- AP
Billions to be Shared by Enron Shareholders- AP
Apple's Jobs Shows New iPods, Jokes About Death- Reuters
Washington Wants Oil Down, Stocks Up Before Election, Harrison Says
Oil below $100 as OPEC signals steady prod
Brent's sharp decline came after OPEC's chief signaled the cartel would keep its production ceiling unchanged, despite sinking prices.
OPEC to keep oil flowing as prices fall
Source:ET,Reuters, Yahoo Finance etc
Index Value: 11,230.73
Trade Time:4:06PM ET
Change: -280.01 (-2.43%)
Prev Close: 11,510.74
Open: 11,514.73
Day's Range: 11230.73 - 11577.50
NEW YORK, Sept 9 (Reuters) - U.S. stocks finished sharply lower on Tuesday, with the benchmark S&P 500 suffering its worst percentage decline since late February 2007, as financial shares sold off on worries about Lehman Brothers' (LEH.N: Quote, Profile, Research, Stock Buzz) ability to raise much-needed cash.
A tumble in crude oil prices hit shares of energy companies, including Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) , compounding the market's losses as the euphoria tied to the bailout of Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FNM.N: Quote, Profile, Research, Stock Buzz) evaporated.
Based on the latest available data, the Dow Jones industrial average .DJI fell 280.01 points, or 2.43 percent, to close unofficially at 11,230.73.
The Standard & Poor's 500 Index .SPX dropped 43.28 points, or 3.41 percent, to end unofficially at 1,224.51. The Nasdaq Composite Index .IXIC slid 59.95 points, or 2.64 percent, to end unofficially at 2,209.81. (Reporting by Ellis Mnyandu; Editing by Leslie Adler) .
----------------------------------------------
Top Stories
http://finance.yahoo.com/
Stocks Thrashed as Lehman Shares Plunge 45 Percent- AP
Wall Street ends the day with a deep loss on fresh concerns about the stability of Lehman Brothers, with the Dow losing nearly 300 points.
Lehman Sinks Over 40 Percent on Capital Concerns- Reuters
Oil Down as Ike Shifts Course, OPEC Mulls Output- AP
July Pending Home Sales Fall More Than Expected- AP
Budget Deficit Nears Record Under Latest Estimates- AP
AIG Falls on Fresh Mortgage Market Concerns- Reuters
Dollar Slides as Lehman Worries Stir Up Markets- AP
Billions to be Shared by Enron Shareholders- AP
Apple's Jobs Shows New iPods, Jokes About Death- Reuters
Washington Wants Oil Down, Stocks Up Before Election, Harrison Says
Oil below $100 as OPEC signals steady prod
Brent's sharp decline came after OPEC's chief signaled the cartel would keep its production ceiling unchanged, despite sinking prices.
OPEC to keep oil flowing as prices fall
Source:ET,Reuters, Yahoo Finance etc
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