Week Ahead: Market likely to test support at 3,800

Week Ahead: Market likely to test support at 3,800

The market nosedived after a quiet settlement. The Nifty closed at 3,985.25 points for a loss of 6.12 per cent while the Sensex lost 6.69 per cent to close at 13,102. The Defty was down 7 per cent in a week when the rupee slid to 46.4. The FIIs continued to be net sellers while the domestic institutions were marginally negative until the settlement day.

Volumes were low and carryover moderate. Declines far outnumbered advances. Every sector of the market was hard hit. The Junior lost 6.5 per cent while the Midcaps 50 lost 6.9 per cent and the BSE 500 lost 6.09 per cent. The CNXIT lost a disproportionate 12 per cent and the Bank Nifty lost 7.7 per cent.

Outlook: The breach of support at 4,000 means that the support at 3,800 is very likely to be tested again next week. It is quite likely that it will be broken this time. Every indication is that we are in an intermediate downtrend and the combination of low volumes and adverse breadth could be toxic.

Rationale: The market held its ground until settlement because that was a trigger for short-covering. No such trigger exists in a brand-new settlement.
All the other signals are negative and even if the market is over-sold, it could drop further. This seems to be the early stages of an intermediate downtrend and the market trends are in “phase” with both the short-term and long-term trends running negative as well. That means strong downwards pressure.

Counter-view: The weakness is basically due to global cues. If there is a confidence boost in the US, that would contribute to a turnaround in sentiment. There’s support at 3,950 and 3,900 and 3,850. There could be rallies from any of these points. However, even if there are small rallies at those points, a full reversal doesn’t seem likely. There will be powerful upside resistance at 4,050 and beyond that, between 4,150 and 4,180.

Bulls & bears: The advances-declines ratios have been overwhelmingly negative. There are no obviously bullish stocks in the F&O space and stocks outside that universe are mainly negative and also lack liquidity at the moment. The IT, banking and real estate sectors have been amongst the worst hit but every sector has lost ground.

FMCG is a traditional haven in times of trouble and it has been among the better performers with ITC, Dabur, Colgate, HUL all holding their ground. Apart from these, there were a few isolated winners such as Sun Pharma, Sesa Goa, Tata Communications and HCL Infosystems. Keep tight stops if you go long.

The bulk of the market, that is, almost 90 per cent of NSE listings lost ground. In such circumstances, it’s better to stick to extremely liquid stocks while trading and obviously, it makes more sense to stay on the short side. Look for stocks that seem to be still some distance off reliable supports when going for short positions.


MICRO TECHNICALS
Infosys Current Price: Rs 1,446.90Target Price: Rs 1,400
The stock has made a downside breakout and hit a support that probably will not hold. It is likely to slide till Rs 1,400 where it will hit a much stronger support. Keep a stop at Rs 1,460 and go short. Be prepared for wild swings caused by the Axon takeover battle. It has the potential for an upswing till Rs 1,510, so be prepared to trade long if the Rs 1,460 stop is broken.

Reliance Industries Current Price: Rs 1,963Target Price: Rs 1,885
The stock has slid from the Rs 2,100 level. It has some support at Rs 1,940 but it’s likely to break that and slide till it hits a band of support between Rs 1,880-Rs 1,900. Keep a stop at Rs 1,975 and go short. Start covering at Rs 1,900

Sun Pharma Current Price: Rs 1,472.5Target Price: Rs 1,490
Under less bearish market conditions, one would have hoped that the stock had an upside target of Rs 1,520 on its next upmove. That is unlikely but it should have the potential to climb till Rs 1,490. There is good support at Rs 1,460. Keep a stop at Rs 1,460 and go long.

Tata CommunicationsCurrent Price: Rs 470.85 Target Price: Rs 490
The stock has made an upwards breakout on strong volume expansion. It has a likely target of Rs 490 and it may have the strength to go further, till it hits stiff resistance at Rs 500. Keep a stop at Rs 460 and go long..
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Indiabulls Securities puts 'buy' on Power Grid Corporation29 Sep, 2008, 0443 hrs IST
Indiabulls Securities initiates coverage on Power Grid Corporation with a ‘buy’ rating.

Deutsche Bank has a ‘sell’ rating on Karnataka Bank 29 Sep, 2008, 0442 hrs IST
Deutsche Bank has a ‘sell’ rating on Karnataka Bank with a target price of Rs 115. The ‘sell’ call is based on the following parameters:

HSBC retains ‘overweight’ rating on Bharti Airtel 29 Sep, 2008, 0442 hrs IST
HSBC retains ‘overweight’ rating on Bharti Airtel with a target price of Rs 1,002.

Motilal Oswal downgrades Reliance Capital to ‘neutral’ 29 Sep, 2008, 0441 hrs IST
Motilal Oswal downgrades Reliance Capital to ‘neutral’ with a revised target price of Rs 1,340.

Macquarie initiates coverage on OnMobile Global with an ‘outperform’ rating 29 Sep, 2008, 0440 hrs IST
Macquarie initiates coverage on OnMobile Global with an ‘outperform’ rating and a target price of Rs 650.

Kotak Securities reiterates a ‘buy’ rating on Sesa Goa 29 Sep, 2008, 0440 hrs IST
Kotak Securities reiterates a ‘buy’ rating on Sesa Goa with a target price of Rs 300 per share for an investment horizon of eight months.

HDFC Securities puts 'buy' on Bartronics India 27 Sep, 2008, 0000 hrs IST
HDFC Securities has initiated coverage on the stock with a ‘buy’ rating saying the fast growing AIDC (Automatic Identification and Data Capture) technology in India will further boost the company’s order book and topline.

CLSA Research maintains 'buy' on HDFC 27 Sep, 2008, 0000 hrs IST
CLSA Research has maintained a ‘buy’ rating on the stock saying HDFC has not seen deterioration in asset quality due to rise in rates and its plans to list a couple of subsidiaries in CY09 may act as a catalyst.
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Top stories
General Atlantic: The Wealth Effect29 Sep, 2008, 0427 hrs IST, Supriya Verma Mishra
ET caught up with General Atlantic’s managing director, Sunish Sharma , to learn about his future strategies for the Indian market.

Glodyne Technoserve: System Upgrade 29 Sep, 2008, 0424 hrs IST, Santanu Mishra
Glodyne Technoserve’s thrust on inorganic growth and higher offshoring of infrastructure management services make it an attractive bet.

NTPC: A Show Of Strength 29 Sep, 2008, 0421 hrs IST, Ashish Agrawal
NTPC’s existing operations, ongoing expansion plans and high profitability make it an ideal pick for long-term investors.

Aban Offshore: Tapping The Riches 29 Sep, 2008, 0415 hrs IST, Ramkrishna Kashelkar
Aban Offshore looks promising, given its future growth prospects. But its highly leveraged status makes it a better fit for investors with a high risk appetite.

Stocks that have bucked the market trend 29 Sep, 2008, 0354 hrs IST, Karan Sehgal
Even in the current bear market, there are some stocks which have bucked the trend and investors can cash in on this opportunity. Sun Pharma, Lupin, Coromandel Fertilisers and Lakshmi Energy & Foods appear to be the best bets among such stocks.

Gold offers a glimmer of hope 29 Sep, 2008, 0348 hrs IST, Kiran Kabtta & Devangi Joshi
The global credit crisis has left investors feeling drained and devoid of investment options. In such trying times, gold offers a glimmer of hope.

Global equities gains vanish into thin air 29 Sep, 2008, 0343 hrs IST, Shakti Shan Karpatra
The dead cat bounce that global equities had witnessed in the third week of September turned out to be shorter than what even the bears would have liked.

Time to test market bottom again 29 Sep, 2008, 0336 hrs IST, Deepak Mohoni
The market started falling again, with the BSE Sensitive Index finishing the week 6.7% or 940 points lower, and the Nifty ending 6.12% down.


Source:ET,BS.

Want your name to float around in space? Log on to NASA

Want your name to float around in space? Log on to NASA

Washington: For people who want their names to float around in space, NASA has created a website that would enable anyone to place their name on the agency’s Glory satellite. The “Send Your Name Around the Earth” Web site enables everyone to take part in the science mission and place their names in orbit for years to come.

Chennai and India’s first ‘spy glass’

The Web site, where participants can submit their information, is located at: http://polls.nasa.gov/utilities/sendtospace/jsp/sendName.jsp Participants will receive a printable certificate from NASA and have their name recorded on a microchip that will become part of the spacecraft. NASA’s Glory satellite is the first mission dedicated to understanding the effects of particles in the atmosphere and the sun’s variability on our climate.

US scientists unveil world’s thinnest balloon

The Glory satellite will allow scientists to measure airborne particles more accurately from space than ever before. The particles, known as “aerosols,” are tiny bits of material found in Earth’s atmosphere, like dust and smog. “Undoubtedly, greenhouse gases cause the biggest climatic effect,” said Michael Mishchenko, the Glory project scientist at NASA’s Goddard Institute for Space Studies in New York. “But, the uncertainty in the aerosol effect is the biggest uncertainty in climate at the present,” he added. Glory will carry two scientific instruments, the Aerosol Polarimetry Sensor, or APS, and the Total Irradiance Monitor, or TIM, and two cameras for cloud identification.

The APS instrument will help quantify the role of aerosols as natural and human-produced agents of climate change more accurately than existing measurement tools. The TIM instrument will continue 30 years of measuring total solar irradiance, the amount of energy radiating from the sun to Earth, with improved accuracy and stability. Understanding the sun’s energy is an important key to understanding climate change on Earth. Glory is scheduled for launch in June 2009 from Vandenberg Air Force Base in California. Glory will orbit as part of the Afternoon Constellation, or “A-Train,” a series of Earth-observing satellites.
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Chandrayaan-1 may be launched on Oct 19
http://sify.com/news/scitech/fullstory.php?id=14761398

Weather permitting, India's maiden moon mission, Chandrayaan-1, may lift off on October 19 from Sriharikota in Andhra Pradesh, scientists associated with the odyssey indicated on Thursday.
"The tentative date is October 19," they said in Bangalore after completing all the work on the cuboid-shaped 590 kg spacecraft that will carry 11 payloads.
Also read: Centre fails to take a stand on homosexuality
Meanwhile, the government on Thursday approved a sequel to the mission few years down the line.
"The Union cabinet today gave its approval for undertaking lunar mission Chandrayaan-2 and upgrading the associated existing ground segment at a total cost of Rs 425 crores (Rs 4.25 bn)," Information and Broadcasting Minister P R Dasmunsi told reporters in New Delhi after a cabinet meeting chaired by Prime Minister Manmohan Singh.
Chandrayaan-1 will be launched by indigenous Polar Satellite Launch Vehicle (PSLV) and will carry payloads of six foreign countries - the US, Britain, Germany, Sweden and Bulgaria - apart from those of India.
Scientists said that the Chadrayaan-1 spacecraft would be shipped later this month, most likely on September 30, to the Satish Dhawan Space Centre at Sriharikota for the launch.
Foreign news magazines can have Indian editions
"We have completed the integration of the satellite," Chandrayaan-1 director M Annadurai told reporters at ISRO Satellite Centre in Bangalore.
Chandrayaan-1, estimated to cost nearly Rs 4 billion, will beam back digital elevation maps of the moon and its mineral concentration, as also carry out environmental studies and measure radioactivity on the lunar surface.
It will try to find the traces of atomic elements such as Radon, Uranium and Thorium.


Source:Sify

Pvt Equity, MnA Deals

HCL Tech Makes Counter Bid For Axon; Infosys On Defensive

HCL has offered to pay 650 pence a share, 8.3% more than the 600 pence offer by Infosys.

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ASK Realty and Schroders Investment Hire Real Estate Heads
J.P. Morgan & Chase Announces $10 Billion Capital Raise
SEBI Gives Nod To DSP Merrill's New Name
Autoline Industries Acquires Italian Companies For $13 Million
Piramal Appoints Murari Rajan To Head M&A, Strategy
Govt Starts Rs 10 Crore Fund For Budding Designers

Avigo To Close Third Fund of $300M By Year End; IFC To Invest $30M
J.P. Morgan & Chase Announces $10 Billion Capital Raise
Deal Slowdown: 3i Group Cuts Investments By 40%
BPL Gets Deutsche Banks "Vote of Confidence"

Mayfield Closes Fund XIII At $395 Million
RTVL, Norwest Ventures Invest In E-transaction Firm Suvidhaa
Govt Starts Rs 10 Crore Fund For Budding Designers
Connectiva Systems Lands $17M Funding From NEA IndoUS, Others

HCL Tech Makes Counter Bid For Axon; Infosys On Defensive
SEBI Gives Nod To DSP Merrill's New Name
Autoline Industries Acquires Italian Companies For $13 Million
Hedge Fund Gets Sterlite To Drop Its Restructuring Plans

Job Listings
Associate - TVS Capital
Associate Principal Level - TVS Capital
AVP/ VP – Investment Banking/ Private Equity - Ariston Advisors
Associate/Analyst - Private Equity/M&A
Associate Vice President - Corporate Finance - Intellecap
AVP/VP - A Top Notch Indian Investment Bank
Associate - TresVista
Associate Level - Private Equity Opening - Mumbai

---------------------------------------------------
Tata Motors in talks with PE funds to offload up to 25 percent stake
Indian firm in takeover talks with Arden Partners
IFC to acquire shares of Modern Dairies
Actis Biologics taps PE firms to raise Rs 125 cr
Three major firms eye 51% in NTPC-BHEL JV

HCL Tech makes counter bid for Axon of U.K.
Fidelity PE Fund plans pharma foray with $200-400 m investments
IFC Commits $30M To India Buyout Fund
YES Bank to add buyout fund to PE portfolio
Moser Baer unit gets PE Funding worth Rs 415 crore

Balaji Tele may buy stake in 9X
Autoline acquires 49 pc stake in two Italian firms
Sebi may ease foreign venture capital investment norms
JPMorgan Plans to Double Private Equity in India to $1 Billion
Reliance Technology Ventures and Norwest Venture Partners Invests in ‘S-commerce’ Pioneer, ‘Suvidhaa’

SOurceS:IndiaPE,VCcircle.com

Investment World articles from BL

Investment World

TECHNICAL ANALYSIS: Index OutlookAs analysts across the globe debate over whether the beginning is ending or the end is beginning, there is definitely a consensus on the fact that this is not the end of the credit and financial market muddle. The unending tales of debacles ...

STOCKS: OnMobile Global: BuyInvestors with a one-two year perspective can buy the shares of OnMobile Global, considering its strong focus in the domestic mobile value added services (VAS) market. An expanding product offering, increasing global footprint through ...

STOCKS: Simplex Infrastructures: BuySimplex Infrastructures is among the few pure contracting companies in the infrastructure space that has managed to move up the value chain in terms of higher profitability while at the same time preserving the status of being contractors ...

STOCKS: Tanla Solutions: BuyThe crisis in the global financial markets has taken a toll on several of the key banking, financial services and insurance clients of Indian IT majors. The top-tier companies may yet pull through, thanks to the breadth and depth of their ...

STOCKS: Bank of India: BuyInvestors can consider buying the Bank of India stock with at least a two-year horizon. Valuations are quite attractive, but the stock can be re-rated only when sentiment towards the banking sector improves on a rend reversal in interest ...

TECHNICAL ANALYSIS: Query Corner: What the charts sayI am holding shares of HCL Infosys and Sesa Goa bought at Rs 110 and Rs 145 respectively. Shall I hold these shares or switch. What is the anticipated bottom ...

TECHNICAL ANALYSIS:

DERIVATIVES MARKETS: Range-bound movement seen in Nifty futureThere was no let up from bear hammering last week, as the Nifty October future finished at 3998.15, registering a fall of 6.4 per cent over its last week’s ...

STOCK MARKETS: Hope wilts on bailout uncertaintyThe week beginning September 22 saw the Sensex start on a positive note opening close to 200 points above its previous ...

Source:BL
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Other HEadlines:
Inflation data based on monthly WPI series from new year
New WPI index to be less ‘aam aadmi’ centred
Will Chinese banks make Wall Street buys?
US financial crisis shows the perils of inclusive loans

Congress, White House reach financial bailout deal
Outline of US Congress' draft bailout plan
Promising sectors for long term
On billionaire row, it's simple, veggie fare

Source:ET,BL

Nuke deal approved by US House, moves into last lap

Nuke deal approved by US House, moves into last lap

The Indo-US nuclear deal has moved into the last lap clearing a major hurdle when the House of Representatives approved a legislation on it that will now go to the Senate before the two countries can implement the civil nuclear agreement. After a lot of drama and suspense, the House passed the Bill on an unusual extra day of sitting on Saturday with bi-partisan support but a considerable number of Democrats were still opposed to it. The Berman Bill H R 7081, named after Howard Berman, a Democrat strongly opposed to the deal on non-proliferation grounds and who converted only a couple of days ago, was adopted with 298 voting for and 117 against.

One lawmaker merely voted present. The deal just needs the backing of the Senate which may vote next week on the issue. But the Senate vote appears to be a formality given the fact that an identical Bill has already been approved by its Foreign Relations Committee earlier this week.

Though a Congressional consent eluded the deal when Prime Minister Manmohan Singh and President George W Bush when they met on Thursday, the House approval came hours before the Prime Minister left the US shores winding up his five-day visit on his way to France. Once the Senate gives its nod, the nuclear agreement between the two countries will be ready for signing between External Affairs Minister Pranab Mukherjee and Secretary o State Condoleezza Rice, who is slated to visit New Delhi on October 3. The Administration is keen on signing the deal before the end of the term of Bush who had entered into the agreement with Singh more than three years ago that will end three decades of nuclear apartheid against India. National Security Advisor M K Narayanan welcomed the adoption of the deal by the House saying it was a matter of great satisfaction. He expressed the hope that the Bill would get cleared in the Senate sooner than later rather than wait for the next session. Hailing the House action, Indian Ambassador to US Ronen Sen said it would now be the last lap of a historic step for both the countries. The deal enjoyed bi-partisan support and was good for both India and the US. South Carolina Republican Joe Wilson, one of the strongest supporters of the legislation and the agreement, hailed the vote saying it moved the US one step forward in strengthening the partnership with people of India. Despite the US Congress being busy in the midst of clearance of a package for the financial institutions gone bankrupt, the House met unusually on a Saturday for conducting business. The vote on the nuclear Bill was suspended yesterday after another opponent Ed Markey demanded a recorded vote instead of a voice vote after the debate was completed. Berman had originally introduced a Bill that was slightly different from the measure approved by the Senate Committee and adoption of it would have delayed implementation of the nuclear deal. Berman was talked to by Rice after which he withdrew his original Bill and introduced a legislation identical to the Senate Committee that ensured its quick passage.


Joe Wilson said he was grateful for the work of President Bush, Prime Minister Singh and Rice for their steadfast support in seeing this agreement implemented. Earlier, the House completed a lively debate that saw Markey putting up a stiff opposition to the deal with India. However in the Senate, an anonymous lawmaker put a "hold" on consideration of the bill which must be lifted before the agreement is brought to the Senate floor or approved by a unanimous consent agreement. The latest hiccup in the Senate is actually a counter to the attempt of the leadership to "hotline" the Senate Bill through unanimous consent without debate and vote. The schedule of the Senate is still fluid but it is meeting tomorrow and re-convening on Wednesday after taking a break on Monday and Tuesday on account of Jewish holidays.

-----------------------------------------
Bush welcomes US-India civilian nuclear deal
US House of Representatives approves nuclear pact with India
Historic N-deal on verge of fruition, says PM
Rice to visit India next week, may sign nuclear deal

Source:ET,BS

US crisis:Washington Mutual files for bankruptcy; Wachovia may be next and more to come.....

Washington Mutual files for bankruptcy

US financial crisis deepened further with 119-year old banking institution Washington Mutual deciding to file for bankruptcy protection after selling its banking operations to JPMorgan Chase. Washington Mutual, which has an asset of over USD 300 billion, will be the second major financial entity after Lehman Brothers to file for bankruptcy protection. The fall of Washington Mutual, popularly known as WaMu, is being viewed as the biggest banking failure in the American history. "Washington Mutual Inc announced on Saturday that it has, together with its wholly-owned subsidiary WMI Investment Corp, commenced voluntary cases under Chapter 11 of the United States Bankruptcy Code," a statement released by Business Wire said. WaMu, according to reports, was expected to lose around USD 19 billion on bad mortgages. Credit agency Standard and Poor's has already slashed its rating to eight level below investment grade. Earlier the US administration has seized WaMu and sold its banking operation to JPMorgan Chase for USD 1.9 billion. The American financial turmoil triggered by subprime mortgage crisis has taken a heavy toll on the global financial system, even as the US government is trying to work out a USD 700 billion bailout package. Apart from forcing Lehman Brothers, WaMu and IndyMac Bancorp into bankruptcy, the crisis has driven US's sixth largest bank, Wachovia, which has an asset base of over USD 800 billion, to look for a buyer. The turmoil had also forced Merrill Lynch to sell its shares to Bank of America, while the crisis-ridden AIG, Freddie Mac and Fannie Mae were bailed out by the US government.
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More corporate bankruptcies to come to the fore

US corporate bankruptcies have soared this year and more are on the way, highlighting a historic and pivotal year for those in the restructuring industry. Virtually no segment of the US economy has been safe from a rolling tide of job losses, stock market declines and home foreclosures that have knocked a range of industries to their knees. “We are certainly seeing more companies, particularly among insurance and financial institutions, going through unprecedented times fighting for survival,” said Randall Eisenberg, senior managing director for restructuring advisor FTI Consulting. Companies in more industries than ever are finding themselves in distress, ranging from retailers, home builders and restaurants, to financial firms, transportation providers and energy companies. But at the same time, the turmoil has created unprecedented opportunities for distressed or vulture investors , and those attorneys, consultants and other experts who help companies sort out their problems. “There are all of these (private equity investors) getting into the business, by buying and rolling up these industries that are in trouble,” said Sheila Smith, head of reorganization at Deloitte Financial Advisory Services. Government bailouts and increasingly large bankruptcies are starting to rewrite the rules for overseeing corporate collapses. Nothing serves to highlight the shift more than the rapid and unexpected downfall of some of the country's most powerful firms, including Lehman Brothers Holdings $637 billion bankruptcy filing this week. “The Lehman Brothers bankruptcy is taking the restructuring industry into uncharted waters,” said David Pauker, a managing director with restructuring advisor Goldin Associates. “Much of the learning and experience that derives from earlier failures of large financial firms—Drexel (Burnham Lambert), Refco, Enron—will be revisited and revised.” The number of US businesses filing for bankruptcy has soared 42% from a year ago, according to the Administrative Office for US Courts. Already this year, more public companies have filed for Chapter 11 and Chapter 7 bankruptcy than during all of 2007, according to BankruptcyData.com. The credit crisis has also complicated things for struggling companies, by hurting their ability to refinance their debts or even gain financing to exit bankruptcy protection. Auto parts maker Delphi Corp, for example, has been struggling to get financing to exit bankruptcy protection for most of the year. And as market fright intensifies , it becomes more likely other firms will fail or be forced to sell themselves. “Equity markets and other segments of the credit markets continue to crater, raising fears of systemic risk,” Diane Vazza , head of ratings agency Standard & Poor’s global fixed income group, wrote in a note to clients. Vazza will be among the specialists to address Reuters reporters and editors at its Restructuring Summit. While a global credit crunch has slammed financial firms, higher energy prices have sent regional airlines such as Denver-based Frontier Airlines Holdings into bankruptcy court.
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Top 10 US bank failures Top banking crises
US races to reach bailout deal before Monday
Asian banks show signs of crisis

Source:ET

10 things that money can not buy.

10 things that money can't buy.

On August 7 we published a feature 10 things that money can't buy. In response Get Ahead reader Gagan Kumar, a corporate training consultant, sent his list of 10 things that money cannot buy. Read on.
Sages down the ages said we must remain happy and contended with what we have. But today's generation and just about everyone in this competitive world are running after one sole thing: money and creation of wealth.
But there are different ways in which different human beings think. For some wealth creation is abundance of money while for some others it could be just living joyfully.
Money or the creation of wealth can give you pleasures of life and help you realise your fantasies. But the big question is: can it provide you joy, peace, prosperity and lead you to megaliving as rightly put forth by famous leadership guru Robin Sharma?
To say that money and subsequent creation of wealth can buy everything is a misnomer. The true fact is money cannot buy everything. Here is a list of what money cannot buy but things that can be cherished over a period of your life perhaps.

1. Vision and mission of your life
The old age by W W Ziege goes like this: 'Nothing can stop the man with the right mental attitude and nothing on earth can help the man with wrong mental attitude'.
Without vision and mission you are like a jet without a flight plan or maybe a brain surgeon operating with a blindfold on. Lasting self mastery and excellence will only come about when you set precise goals and have a clear vision and mission plan in place.
Clear goals are foundation of success and if you do not set clear cut goals then it would be like a ship moving through deep seas without a course. And alas these are not a commodity which can be bought!

2. Networking and building nurtured relationshipsSeptember 25, 2008
You are the centre of your own universe. Where your universe intersects or overlaps someone else's, your lines cross that person's universe. If you could draw a map of the entire universe, you'd have a mesh or a web. Staying in touch and focusing on action is not only important for our evolution but is also a vital need to meet the larger challenges facing us today.
When we join hands with other people and share our dreams, aspirations, concerns and dreams not only do we find inner strength in this kinship but also practical help and ideas to carry out joint initiatives effectively. Remember, together each achieves more.
This is something that has to be cultivated and is not something that can be bought overhand.

3. ValuesSeptember 25, 2008
The highest good in human beings is their own self. This is the love, awareness and bliss of our inner most divine being. Everything worthwhile in life is an expression of this divinity. All that we value is the hidden quest for this divine source: Jack Welch in his book Winning.
Everything we do is based consciously or unconsciously on our values, attitudes and or conceptions of what is good and desirable. They are our inherent notions of what ought to be. Thus values are set of behaviours: specific, nitty-gritty and so descriptive they leave little to imagination.
People must be able to use them as marching orders because they are the how of the mission, the means to the end: Winning. And if u guessed it right folks values is not something which you can buy but what is nurtured by your traditional roots.

More @http://specials.rediff.com/getahead/2008/sep/25slde3.htm

Source:Rediff.com

Sensex plunges by 940 pts on global financial crisis (Week basis)

Sensex plunges by 940 pts on global financial crisis

The delay in passage of a US bailout package for ailing financial markets and shut down of America's second largest bank caused a global meltdown with Indian bourses crumbling by a huge 940 points, biggest point-wise fall in the last 25-week, in the week under review. Even as the US administration continued its debate on a $ US 700-bn rescue package for the shattered financial system, the on-going credit crisis claimed yet another victim leading to across the board sell-off in the stock markets.

The US regulators on Thursday seized the 119-year-old Washington Mutual Inc, a leading savings and loan bank in the US, and sold its banking operations to JP Morgan Chase for 1.9 bn dollars. In the week to September 27, the Bombay Stock Exchange 30-share barometer tumbled by 940.14 points or 6.70 per cent to end the week at 13,102.18 against its last weekend's close. Similarly, the broader 50-share Nifty of the National Stock Exchange nosedived by 260 points or 6.12 per cent to close the week at 3,985.25 from its last weekend's close. Analysts said political squabbling blocked the potential deal on a bailout proposal, on which investors globally have pinned their hopes for revival in the markets. Domestic markets witnessed a relief rally on Wednesday as the bellwether Sensex recovered by about 122 points on some short-covering of positions ahead of the expiry of derivatives series on Thursday.

Market falls on US bailout concern; Nifty seen at 3400
3 firms eye 51% in NTPC-BHEL JV
Rupee hits week's low at 46.54
HCL counter Infosys' bid for Axon
Indians lead world in millionaire growth: Report

Sterlite Tech bags Rs 254 cr order from PGCIL
Educomp gets Rs 109-cr contract from Karnataka Govt
India has adequate rice, wheat stocks, says government
JP Morgan plans $800 mn-1 bn PE investment in India
Invesors may invest $21-billion in FY 09

CLSA Research maintains 'buy' on HDFC
Top 10 US bank failures
7 worst habits of workaholics
Deutsche Bank picking up stake in BPL
LIC to get reasonable time to shed excess stake

US's sixth largest bank Wachovia looking for buyers: Report
US lawmaker sees bailout agreement by tomorrow
US House postpones vote on Indo-US nuclear deal
NEWS DIGEST: Most read stories this week
Forex reserves up by $2.5 bn

Source:ET,BS

Sensex plummets 445 pts as US financial crisis deepens

Sensex plummets 445 pts as US financial crisis deepens

On expectations that the bailout package would take some pressure off the market, the Wall Street had ended on a firm note yesterday. But there were negative triggers galore when trading commenced on the major Indian bourses this morning.
Astro predictions on Sensex
The fall of Washington Mutual, uncertainties over the fate of the $700 billion bailout plan mooted by the US government to cure the ailing financial sector, weak economic data - not surprisingly all the negative news flowed in from United States - set the platform for the bears to launch an all-out assault on stocks this morning. As if they were not enough, Asian markets were trading weak (they subsequently ended with sharp losses) and as the session progressed the mood turned still more bearish due to weakness exhibited by European markets.
How to find out the right price of a stock?
The Sensex, which crashed to a low of 13,054.42 in late afternoon trade, ended the day at 13,102.18 with a huge loss of 445 points or 3.28%. The Nifty closed with a loss of 125.30 points or 3.05% at 3985.25, around 15 points off its intra-day low of 3970.35.
Realty, bank, metal, capital goods, power, information technology, auto and oil stocks, all got a beating today. Losses recorded by realty stocks were more pronounced. Mirroring this, the Realty index went down by as much as 6.33% today. The Bankex eased by 4.27%. BSE Metal lost 4.76% and the Capital Goods index declined 4.1%.
Stockometer
Reflecting the erosion in prices of power, IT, PSU, auto and oil stocks, the respective sectoral indices ended lower by 3% - 3.5%. BSE Teck lost nearly 3%. The Consumer Durables and Healthcare indices eased by 2.22% and 1.55% respectively. The FMCG barometer outperformed the market and finished with a sharp gain of 0.96%.
Top gainers
From the Sensex pack, only ITC (2.05%), Hindustan Unilever (1.2%) and ACC (0.45%) ended on a positive note today. Among Nifty stocks, Tata Communications moved up by 5.9%. Cipla, Sun Pharmaceuticals and GAIL India posted modest gains and Zee Entertainment edged up marginally.
Worst losers
Ranbaxy Laboratories slipped by over 8% amid reports of US President's Emergency Plan for AIDS Relief (PEPFAR) suspension of funding for three of its generic HIV/AIDS drugs. Sterlite Industries ended with a loss of 6.25%. ICICI Bank, Grasim Industries, Hindalco, Mahindra & Mahindra, BHEL and DLF lost 5% - 6%.
Tata Steel, Reliance Communications, Maruti Suzuki, HDFC Bank, State Bank of India, Larsen & Toubro, Infosys Technologies, HDFC, ONGC, Reliance Infrastructure and Reliance Industries declined by 3% - 5%.
NTPC, Tata Motors, Wipro, Bharti Airtel, Jaiprakash Associates, Satyam Computer Services, Tata Power and Tata Consultancy Services also closed with sharp losses.
Unitech lost nearly 8% today. SAIL and Siemens eased by over 6%. HCL Technologies lost 5.3%. ABB, Nalco, Suzlon Energy, Punjab National Bank, Ambuja Cements, Reliance Petroleum, BPCL, Idea Cellular, Power Grid Corporation and Hero Honda also ended with sharp losses.
Akruti City (down 16.7%) was the biggest loser in BSE 'A' Group. Gujarat Petronet tumbled 11.35%. Gujarat NRE Coke, Aban Offshore, Century Textiles, Lanco Infratech and India Bulls Financial Services lost 9% - 10%.
HDIL, Bombay Dyeing, Tata Chemicals, Praj Industries, Indian Overseas Bank, Financial Technologies, Voltas, IFCI, Jindal Steel, Chambal Fertilizers and Patni Computer ended lower by 7% - 9%.
Sterlite Technologies, Electrosteel Castings, Ashapura Minechemicals, State Trading Corporation, ICSA, Anant Raj Industries, Madhucon Projects, Bilcare, Orbit Corporation, Ansal Infrastructure, Deccan Aviation, Mahindra Lifespace and Infotech Enterprises were some of the major losers in the midcap space.
The market breadth was very weak. On the BSE, 2172 stocks ended in the negative territory. 442 stocks posted gains and 59 stocks ended flat.

Source:Sify