PE,VC news

Yes Bank's Billion Dollar PE Plans Unveiled
Sahara Arm Exits NBFC Business; To Shift To Real Estate Activities
ICICI Venture, Providence In Joint Bid For Firstsource: Report
Reliance ADAG Acquires Stake In Forex Company Wall Street Finance
TPG To Invest $120M In Shriram Group's Consumer Finance Arm

NHPC To Hit The Public Markets Around Diwali
QAI India Buys Out Parent Company In USA
SAP Ventures Invests In Software Product Co Newgen Software
Fortis Launches $565M Clean Energy Fund; India On Radar
Dewan Housing To Raise $250 Million Realty Fund

Anil Ambani's Deal With Spielberg Stuck Over Debt Financing
Battery Ventures Makes Ramneek Gupta Partner; To Open India Office
Hedge Fund Platinum Capital Management May Open A Shop In India
CLSA Launches Long Only Clean Water Asia Fund
GVFL-backed 20 Micron Files DRHP For Public Offering

Norway's Telenor Close To Getting Stake in Unitech Wireless: Report
S Kumars Close To Acquiring Italian Shirt Co For Euro 75 Million
Rural Financial Inclusion Firm A. Little. World. Raises $6.5 Million
IFCI Venture Capital Invests $4.6M In Marck Biosciences
Seventymm Raises $12 Million In Third Round From NEA IndoUS, Others

Ojas Venture Partners Invests In Mobile Tech Firm Mango
SAP Ventures Invests In Software Product Co Newgen Software
Fortis Launches $565M Clean Energy Fund; India On Radar
Dewan Housing To Raise $250 Million Realty Fund
Texas Pacific Raises New $30 Billion Fund; $4 Billion For Asia Fund

Job Listings
Associate Vice President - Corporate Finance - Intellecap
AVP/VP - A Top Notch Indian Investment Bank
Associate - TresVista
Associate Level - Private Equity Opening - Mumbai
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Brushman India to acquire stake in Snowcem Paint
PE players develop a liking for healthcare providers
Providence, ICICI arm in joint bid for Firstsource
TPG to invest Rs 530 cr in Shriram's finance arm
Anil Ambani sets his sights on buying Everton

QAI India buys out US parent
Roots to offload 20% equity to private equity funds
Raj Television eyes print, plans stake sale to PE
INX to mop up Rs 600 cr by selling stake
Dewan Housing arm lines up $250 million real estate fund

SAP Ventures buys minority stake in Newgen Tech for Rs 10cr
Bharti Airtel launches $44 mn venture fund
PE funds: real estate developers find performance pays
Capital crunch, valuations may hit PE funding in infrastructure
Etisalat close to buying 51% stake in Swan Tele



Source:Vccircle.com, IndiaPE.com

Stock Reports from Deadpresident

Washington Mutual troubles mount
Buzz from Deal Street
Weekly Stock Picks - Sep 14 2008
Buy Hindustan Unilever
Buy BHEL
Buy Jindal Saw
Buy GAIL
Buy L&T
Weekly Newsletter - Sep 12 2008

Industrial output picks up in July
Rupee weakens to nearly two-year low
N-deal...Massive investment expected in power sect...
Infosys sinks on profit warning

Bank of India
Glenmark Pharma
Ranbaxy
India Economics

Shree Renuka Sugar
Stock Picks
Weekly Wrap - Sep 12 2008
India IT Services

India Inflation
Bharti Airtel, BHEL
Maruti Suzuki, Pantaloon Retail
India Steel Sector Update
ONGC

Insurers are biggest investor in stocks
Reliance Communications, Apollo Tyres, Britannia
Energy and Metals Update - Sep 11 2008
New Lows for Sensex
Suzlon Energy

Suzlon Energy
Bajaj Hindustan, Balrampur Chini, Triveni Engineer...
Maruti Suzuki
Coal Mining
Sesa Goa
Unitech
India Real Estate
Sterlite Industries Ltd.
GAIL
Reliance Industries, RPL
------------------------------------------------
WKLY TECH ANALYSIS: Buying activity may boost Sensex

The Sensex boomeranged after hitting a high of 15,107 early in the week. The markets began the week with a bang on the back of Indo-US nuclear deal but ended on a whimper despite lower inflation and higher IIP numbers.

The index retraced sharply from the resistance zone of 15,100-15,170, and tumbled towards the weekly support level of 13,970. The index touched an intra-week low of 13,934, and finally settled with a loss of 483 points at 14,001.

Metal, realty and energy stocks were the major losers last week, while cement and FMCG stocks were able to attract buyers. Sterlite nose-dived over 17 per cent, mainly on account of the company’s restructuring plan, to Rs 487. Reliance Infrastructure, Tata Power, RIL, Tata Steel, Jaiprakash Associates, DLF, Mahindra & Mahindra and ICICI Bank dropped by 5-8 per cent each.

Maruti, Hindustan Unilever, Grasim and ACC, on the other hand, ended with marginal gains.
The Sensex is now getting closer to the lower band of support mentioned for this month, that is 13,350-13,500. On can expect considerable buying support at these levels, and possibly a bounce back, too.

The NSE Nifty moved in a range of over 350 points - from a high of 4,558, to a low of 4,200 - before settling with a loss of 124 points at 4,228.The strong support base for the Nifty at 4,050 to 4,080 could come into play this week. If the index is able to maintain this support zone, one is likely to witness the index’s bounce back to atleast 4,370 to 4,450.


Source:Deadpresident, BS.

Market Ideas from BusinessLine

TECHNICAL ANALYSIS: Index OutlookIndian equities barely reacted to the news of Nuclear Suppliers Group lifting the embargo on trade with India, nor were they impressed by the decline of crude prices, that had been their principal tormenter this year, to $100. Instead, they ...

DERIVATIVES MARKETS: Nifty future comes under more pressureDespite a promising opening, the Nifty September future finished precariously low at 4245.8, registering a fall of 2.4 per cent over the previous week’s close. ...

STOCK MARKETS: Markets not enthused by positive news flowsThe stock markets gave a thumbs-up last Monday after the country received a waiver from the Nuclear Suppliers Group for receiving nuclear fuel supply. The BSE Sensex opened with a huge gap and ended the day with a 461-point gain. The ...


MUTUAL FUNDS: Buy Gold ETFsLooking for an investment option that will perform well when stocks don’t? Gold fulfils this role admirably. Low historic correlation with the Sensex and long-term returns that beat inflation are the key reasons for an Indian investor to ...

TECHNICAL ANALYSIS: Query Corner: What the charts sayPlease let me know the medium-term outlook of Larsen and Toubro. ...

INCOME TAX: Tax exemption on property buyI am a senior citizen. I have sold a residential house, for Rs 36 lakh. I have out of the sale proceeds cleared a home loan on the said property of Rs 7 lakh. I propose to invest Rs 30 lakh to purchase land and construct a ...

INVESTMENTS: The ‘Beta’ guideBeta is the measure of the volatility of a particular stock in comparison with the market. It indicates the stock’s correlation with the market index and cautions on the risk associated with it. Since volatility is an inherent aspect of ...

TECHNICAL ANALYSIS:
InfosysThe Rs 100 cut in the Infosys stock price on Friday has reversed our positive medium-term view for the stock. The bearish engulfing candle formed on this day implies that the move since August 18 was a distribution phase and not a running ...

TECHNICAL ANALYSIS: RelianceRIL is poised on the brink. The support at Rs 1,900 has held the stock over the last two months. A reversal from current levels will imply that a flat pattern is currently unfolding that can take the stock higher to Rs 2,200 or Rs 2,400 in the ...

TECHNICAL ANALYSIS: Tata SteelIt was a dismal show by Tata Steel last week with a 7 per cent weekly decline. The stock has closed below the key support at Rs 557. If we assume that the third wave from the Rs 925-peak has commenced at the August peak at Rs 700, the minimum ...
TECHNICAL ANALYSIS: UnitechUnitech held resolutely above Rs 150 and moved in a narrow range as indicated in our last column. The short-term view for this stock is negative but traders should wait for a decline below Rs 150 before initiating fresh shorts on this counter. ...

TECHNICAL ANALYSIS: SBIState Bank of India recorded an intra-week peak at Rs 1,604 before declining last week. But the mild nature of the correction implies that the near-term outlook stays positive. Immediate supports for the stock would be at Rs 1,458 and then Rs ...

TECHNICAL ANALYSIS: Reliance InfraThis stock reversed downwards from an intra-week peak at Rs 1,101 and declined to the support at Rs 920. ...

STOCKS: Educomp: HoldShareholders in Educomp Solutions, an education solutions provider, can stay invested with a one-two year horizon considering the company’s strong growth prospects in digital content and product licensing to private schools and strong ...

STOCKS: Bannari Amman Sugars: BuyThe sugar cycle is on the verge of an upturn, with the sharp contraction in sugarcane acreage pointing to lower sugar output and tighter supply over the next couple of years. With sugar prices already beginning their ascent, producers can look ...

STOCKS: Shree Cement: BuyThe sharp de-rating of cement stocks, due to concerns about limited pricing power, has trimmed valuations for producers such as Shree Cement. ...

MUTUAL FUNDS: ICICI Prudential Indo Asian Equity: HoldDiversification within an asset class can minimise risk for equity investors and with the Indian market entering turbulent times, funds that invest in stocks outside India help tide over market volatility and insulate themselves against purely ...

MUTUAL FUNDS: DBS Chola Hedged Equity: HoldInvestors can retain their units of DBS Chola Hedged Equity Fund. In little over a year since its launch, the fund’s performance stands out, its returns bettering both its benchmark CNX Nifty and category average for diversified equity ...

STOCK MARKETS: Bull's EyeE-mail your response by Tuesday to

STOCK MARKETS: Baskets of XE-mail your guess before Tuesday to

NEW FUND OFFER: UpdateBirla Sun Life asset management company has launched Birla Sun Life Commodity Equities Fund. ...


Source: BusinessLine

Crack is showing, RIL struggles below Rs 2,000

'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

Industrial growth at 7.1% in July

Industrial growth at 7.1% in July

Sensex tanks 323 pts as bears strike again 

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 ends 323 points down

Sensex sheds 323pts; tech, realty stocks tank

Industrial production dips to 7.1% y-o-y

Indra Nooyi named Corporate America's 12th top-paid woman

IIP data: July industrial output up 7.1% year/year

Source:ET,BS,BL.

Mkt shrugs off IIP, fear of slowdown weighs, Sensex dn 323 pts

Mkt shrugs off IIP, fear of slowdown weighs

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.

-------------------------------------------------------------------------

IT stocks tumble on Lehman collapse, UBS report

Infosys says strong dollar may impact revenue

Re drops on offshore $ demand

India's forex reserves at $288 bn

Three Indians among Forbes Web Billionaires

Auto, power, capital goods gain on IIP data

Industrial growth at 7.1% in July

Source:ET

Google's amazing journey

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

----------------------------------

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.

-----------------------------------------

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

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

Inflation drops to 12.10%

Inflation drops to 12.10%
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