Listing Myth

Lots of investors who may have subscribed to the IPO are under the impression that they strike goldmine when IPO lists at premium.But this may not be entirely correct because return on investment in an IPO is not only dependent on the debut premium but also on oversubscription.This can be better understand by following example.

• Suppose a person invest Rs. 1 lakh (the cap for small investors) in two IPOs,EVERONN Systems and DLF


• Everonn Systems' share closed with highest premium on day 1,while otherwise was the case in DLF (issue price for both companies was RS 100 per share)


• By investing Rs 1 lakh in Everonn systems' IPO the investor would have effectively applied for 714 shares


• But due to 123.80 times oversubscription, he would have been allotted only six shares.The profit on day 1 would be Rs.338 per share (difference between close price & issue price ) The investor would have made profit of Rs. 2041(Rs338*6 shares). The ROI in this case is just 2.03%


• On the other hand,when investor puts Rs. 1 lakh in DLF IPO,he would have applied for 190 shares and got full allotment of 190 shares because retail portion was subscribed just 0.97 times The profit on day 1 would be Rs 45 per share Means,investor earned total profit 8550(Rs 45*190 shares).The ROI in this case is 8.55%

This means,besides listing premium oversubscription has an impact on investors' return on investment

Source : "Capital Market" Aug-Sep 2007

New FII norms will lead to reduced volatility

• SEBI has proposed to allow FIIs to use AAA-rated foreign government securities in lieu of cash for payment of margins against positions in derivatives.

• Margin payment is a headache in this business.. for all sorts of investors in futures and options.. They being FII s whose volume of transactions is huge its going to be a problem..

• Currently its a time for musings by various experts about the repurcussions of this policy move. In one such view - According to Professor Amit K. Barua, IIM Ahmedabad, in a debate in ET - this is what i can understand and present to you as per my existing knowledge base..

• its An appropriate beginning.

• This measure would allow FIIs to use their holdings in, sovereign Debts of foreign countries, eg. US government securities for investing in the Indian equity derivatives market.

• The 1st benefit will acrue from the outcome that FIIs will be able to change F and O positions without changing or shifting their cash market investment. So if a margin call comes from the exchange they can use their AAA grade US govt. securities as a margin without selling their cash market exposure to pay out the margins.

• Thus the volatility in the cash market of BSE and NSE that is caused by sudden withdrawal and infusion of funds by FIIs will decrease considerably.

• Result: This will make the entire process to happen in a phased manner. The reduced volatility in turn will make F and O prices cheap and make investment in to Equity options attractive plus hedging through options will also be attractive.

• The 2nd benefit will be seen in FOREX market. The exchange rate fluctuations due to the frequent entry and exit of FIIs' from the Indian equity markets will reduce.

• Result: The additional volatility in the market determination of exchange rates will die down as changes in FII exposure will not be drastic. The Forex Options will be cheaper AND will make hedging for "Exporters, IT Companies et all " cheaper against their risk of rupee apreciation against dollar etc.. and will be beneficial to whole indian economy.

• Currently there is a cap on the total value of the margin accounted for by foreign securities.

• This cap should be raised in a phased manner and can be removed also to reap the benefits in its entirety out of the current changes.

• If suddenly rupee apreciates then it will be difficult to realize the full margin value as foreign soveriegn assets are denominated in US dollar now so this adjustment should be accounted for in the margin requirement in advance.

• So, let us wait and watch how these new norms behave and how we digest their effects and hope for the best results for the Indian economy.

our sincere thanks to ET and the expert to enlighten us on this very important topic...

Surge of Islamic finance

The Middle East has so far been regarded as a fabled trade entrepat between Europe and Asia. However, of late things, things have changed. A modern form of Islamic trade finance blossom. And as world trade is accelerating in the region, where oil exporting countries are enjoying strong economic growth and importing more goods and services, the region is gradually transforming into a financial hotspot. And sukuk the shari'ah-compliant Islamic bond emerged.

What makes Islamic finance different?
· Islamic finance differs from conventional finance in its strict adherence to shari'ah or Islamic law, which calls for ethical and equitable finance, and strictly prohibits speculation and receiving and paying interest.
· Two of the basic tenets of Islamic finance inferred from the holy book of QURAN are: First No interest can be earned on loans and, second socially responsible investing.

Surge of sukuk (Islamic Bond)
· Islamic finance today is led predominantly by sukuk bonds. 'Sukuk' means certificates.
· The criteria for issuance of sukuk are the existence of the underlying assets on the balance sheet of the issuing entity, which distinguishes sukuk from conventional bond.
· Unlike the conventional bond sukuk holder enjoys proportionate share in revenue generated by the sukuk assets as well as in the proceeds of the realization of underlying assets.
· Another distinguishing feature of a sukuk is that it is not tradable in secondary market instead it held till the maturity period

Advantages:
· The primary advantage of sukuk is the enhanced quality it brings with the presence of underlying tangible assets.
· Appropriate underlying asset have capacity to not only produce the revenue streams desired by investors but allow even struggling entities to pledge their most profitable assets for sukuk financing.
· The fact that sukuk are backed by hard assets limiting the possibility of issuer default.

Problems of sukuk market:
· Liability has always been a concern for a sukuk as non existence of secondary market
· The absence of consensus Islamic benchmark rate (like LIBOR) and consequently an established benchmark yield curve is an added constraint.
· Since sukuk are invariably backed by an underlying tangible assets there is risk of lose, damage, as non-maintenance of the asset which will undoubtedly have an adverse effect on the sukuk returns.

Indian context:
As India being second largest Muslims populated country, there is good potential to have Islamic finance model. It is helpful for mobilizing and allocating capital to the best opportunities available.

Also read our previous coverage to this topic about S and P islamic index at

http://analyticsnewswire99.blogspot.com/2007/08/strategic-news-updates-03-08-07.html

Rise of Nu-Power

Nuclear power's revival is most visible in America where power companies are preparing to flood the Nuclear Regulatory Commission with applications to build new plants. Finland is building a reactor, which is having the worlds largest capacity and british government is preparing the way for new planning regulations.

In india also there is the following breeze of activity other than the forthcoming INDO-US Nuclear Cooperation: These power plants are under construction in India.

• Rajasthan Atomic Power Project 5 & 6 - 2 X 220 MWe Capacity
• Kudankulam Atomic Power Project - 2 X 1000 MWe Capacity
• Kaiga Atomic Power Project 4 - 1 X 220 MWe Capacity

Also there is going to be an influx of new capacity and new construction as and when government allows private sector in to the arena....

Companies like L&T, GE, NTPC, Tata Power, Seimens, Areva T&D, ABB and many others are in the pipeline to enter this sector once it is libralized....

Current status of the nuclear industry globally:

1. 439 nuclear power plants in operation with a total net installed capacity of 371.671 GW(e)
2. 5 nuclear power plants in long term shutdown
3. 30 nuclear power plants under construction
   
   Advantages of Nuclear Energy:
   
   1. Nuclear energy is cleaner than oil.
   2. Nuclear energy is more secure than gas.
   3. Nuclear energy is more reliable than wind.
   4. Nuclear power stations are very cheap to run.
   
   Challenges of Nuclear Energy:
   
   1. Nuclear energy involves political risk.
   2. There is a risk of terrorist attack for stealing the nuclear fuel for preparing weapons.
   3. Chances of weapons proliferation.
   4. Nuclear reactors are hugely expensive to build.
   
   What is needed to be done ?
   
   1. Nuclear energysources do indeed deserve a hand from governments.
   2. Governments and nuclear industry are doing their best to limit the risks mentioned before and such risks are small enough to be worth taking in the interests of cheap clean energy...

INDIA The New Hub for Wealth Management

• India is the world’s second fastest growing market for wealth management firms.... But i can assure you one thing that even posh or robust wealth management in india cannot buy you trust.......


• Why i am saying this ? ... Well traditionally Indian HNI's have been putting money under safe's built stealthily in their homes, or under the matresses or over the ceilings in pop... etc. etc.. also dont forget swiss bank, mauritian banks or schchheles like tax heavens... Again the Indian HNI's dont try to keep all their money under one basket of a firm.. so they dont even retain a firm consistently..


• Compare the analogy of Indian HNIs with global scenario.. In Europe, e.g. Wealth Managers even open a client's mails! thus you see people there retaining a Wealth manager for generations! can you hope to see that in India? i guess no...


• But India is a prime target of global wealth management firms like Merrill Lynch, Lehman Brothers, Citigroup, Morgan Stanley, UBS securities, Credit Suisse etc..


• Lets examine the deal in detail....
  

See these global facts & figures: (2006)

• 9.5 million people globally hold more than US$1 million in financial assets.


• HNWI wealth totals US$37.2 trillion.


• Wealth generation was driven by real GDP gains and continued market capitalization growth


• Singapore, India, Indonesia and Russia witnessed the highest growth in HNWI populations


• India has second highest Real GDP growth rate in the world at 9% for FY06 next only to China at 10.5%.


• Market Capitalization Rise & Returns chart:

To read the contents of the image properly click to open it separately in a new web page or copy it on your computer and open it from there.. its a safe file to save & open.. sorry due to technological limitation of not to open it here perfectly

Destination India:

• Thus India is clearly a sought after destination for wealth management companies......
  
• As of 2006 the number of HNIs in India is around 100,015 who are true billionaires..
  
• Bloomberg report of year 2005 showed that approximately $10 billion (Rs 40000 crore) in HNI assets were under management in India then.... Now it is estimated to be around $20 billion (Rs. 80000 crore) approximately as AUM of HNIs.

Points to Ponder:

• We believe the key to this market is the use of need based positioning and customization of services taking care of client perspective..


• Also one more asset in this business is The Relationship Manager. They are the life blood as well as heart of this business.....


• A Delloitte report of year 2006 also says that in banking industry this segment is the most profitable one owing to the HNIs capability of huge 1 time investment capability..
  
  

Winning the Hurdle Race:

• There is a dearth of Regulation in this sector....
  


• RBI has just recently only allowed individuals to invest upto $100000 dollars (Rs. 40 lakhs) per annum abroad...


• Also there is a misconception in India between Wealth Management and Private Banking. We must say here that Wealth mangament is private money management aimed as per the client's profile or needs..
  While private banking is a sort of retail banking or mass based affluent banking which caters to sell all range of products... Thus people in india mix private wealth management with private or previlege banking...


• One more cache here is that .. In India many a times Advisory & Distribution are not segregated...
  So you will find a wealth manager charging a client by investing in the mutual fund products sold by their AM company for which he will charge double fees.. 1. annual portfolio management charges and 2. additional charges for investing in their own MFs calling them Management fees....


• This is sheer cheating ! As in this case the wealth manager will always be keen to sell products rather than giving advice... Actually these people can't be called wealth managers at all....


• Also a lot of taxation related ambiguity prevails in India making the conventional billionaires even more circumspect and orthodox in approach.


• Thus a lot needs to be done on the regulatory field...

• But clearly this market segment has a potential being rich gettin richer and richer..
  


• So all those who are at the start of their career can surely aim at making their career in Wealth Management....
  


• Once again we congratulate india for becoming world's second fastest growing wealth management market

Source for the news article:– Bloomberg, Merrill Lynch, Capgemini, The Business World, The Economist Intelligence Unit, moneycontrol.com, the hindu etc etc.. we thank them providing us this great information source.

Business News 13-09-2007 ANW 99 Exclusive

• Unitech becomes the first Real Estate company to enter NIFTY 50 replacing IPCL, the company merging with Reliance Industries Ltd.

• April - August customs mop-up at Rs 40,571 cr, Up 18.7% Year on Year.

• Why metal prices are going down these days? is it the cyclical downtern due to the said impacts of the LME - London Metal Exchange prices due to supply & demand factors. Is there excess capacity then the demand?

Hindalco cuts aluminium prices by Rs 5,000/t

Hindustan Zinc cuts Zinc prices by Rs 8,800/t (7.4% Cut)

• In what is seen as Lobbying for permitting holding company for banks like SBI & ICICI, The Indian Banks’ Association (IBA) would suggest to the Reserve Bank of India (RBI) that it permit banks to set up intermediate holding companies as an interim measure with stipulations that would provide comfort to the regulator.

• Tata Motors is considering IPO for its ancillary subsidiaries-HV Transmissions and HV Axles. The company may also consider a strategic stake sale in ancillary units before IPO. This will help them unlock value & also help demerging this business from parent Tata Motors.

• The US stocks at latest time 12 oclock IST midnight are trading firm & high - DJIA (NYSE) is trading at 13437.32 up 145.67 points and NASDAQ trading at 2605.62 up 13.55 points. Hope they are having the effect of The Indian Markets which closed today in green!

• Lukoil the company 20% owned by ConocoPhillips, is refining more crude at home to meet rising demand and is looking for more oil abroad and has posted record profits!!!!! The second largest russian oil producer has second-quarter profit rising 8.4 percent to a record level, propelled by higher refinery sales and rising crude prices.

• hey people wait and watch for a new section that is going to be started by none other than me!!!!! from tomorrow...... and yes its going to be global..

do come for it tomorrow...... I have Christened it as ....

ANW99 Business MOVERS & SHAKERS !!!!!!!!!

We are greatly thankful to all the sources available in the business news segment for all the great information.

FUTURE FOR "RUPEE FUTURES" IN INDIA?

• It's no exaggeration that the recent episode of phenomenal rise in the value of Indian rupee has sent positive reverberations across the world about the growing strength of Indian economy as well as its underlying currency, the rupee.
  The rupee appreciation has significantly boosted the demand for rupee -denominated assets across the globe. However exporters started to feel the pinch as it began to erode the country's competitiveness and became the threat to its buoyant export growth .If India is to sustain its momentum over long term, the need of hour is to develop an effective mechanism which will take care of currency related risks. This underlines the pressing need to kick-start a domestic currency future market wherein Indian businessmen can effectively hedge forex risks that they encounter.

WHAT IS CURRENCY FURURE?

Currency future is a futures contract, which exchanges one currency with another at specified price and date in future with one of currencies being US dollar. Except for a few contracts that are held back till the expiry date when the payments are made in each currency, most of the contracts are squared off before the expiry date.

CURRENCY FLUCTUATION RISKS

• Companies, which export and import through long term contracts will encounter currency risks
• Companies, which borrow in foreign currency also, face currency risks.
• The currency risk, which comes through import parity pricing, impinges on all firms.
• Householders who invest in companies that are exposed to currency risks also have to suffer from this risk.

CURRENT SCENARIO

• Indian firms hedge their currency risks using over the counter (OTC), currency options, swaps and forwards.
• But turnover is small with the stringent capital account restrictions imposed on rupee convertibility.
• Till recently, rupee exposure risks can be typically hedged either through Non-Deliverable Forwards(NDF) in east Asia or rupee forwards in India.
• But the forward market in India are small and the access to NDF overseas markets is limited.
• The fact that $1 bn turnover a day of derivatives trading has been occurring outside India on Indian rupees, signifies domestic future market in india to cash in on this growing demand fro the currency.

GROWING CLAMOR

• Currency future concept was pioneered by international monetary market, a division of Chicago mercantile exchange in year 1972
• To leverage on the surging demand for Indian rupee Dubai Gold & Commodities Exchange (DGCX) launched the world's first non deliverable rupee futures contract on June 7,2007
• According to terms, at DGCX, each rupee dollar contract would represent two million rupees. Typically ,prices will be quoted in US cents per RS.100 with minimum fluctuation of $2 per contract
  Further trading price list for the current and subsequent two months will be made available publicly in addition to next three calendar quarterly months.

THE WAY AHEAD

• The more such kind of products exits outside India, the more anomalous it seems that India doesn't have any such kind of product
• As, a consequence, the RBI has formed an internal committee headed by its chief General Manager Salim Gangadharan, to explore the feasibility of launching currency futures in Indian scenario
• The introduction of rupee futures also put another instruments in the hands of hedgers to better hedge their exposure risks.
• It does help in reducing the monopoly of banks in the area of hedging instruments and thus increase transparency.
• Indian stock and commodity exchanges have the essential infrastructure & surveillance monitoring & hence are well placed to embark on the commencement of currency futures market in India
  
  Thus rupee futures provide more flexibility, liquidity and are more transparent than forward contracts Therefore, it's high time to effectively tap the untapped potential of currency futures

SECURITY DEPOSITS - Tool for Retention

• A few Corporates stipulate to their new employees to provide Security Deposit to reduce attrition.
• The banks propose for the employee to keep the Security Deposit in the form of a Fixed Deposit (FD) with the Bank.
• The employee cannot withdraw such FDs without the consent of the company and the company has the right to withdraw the FD in the event of employee leaving the organization before a certain stipulated period
• But if he doesnt move from the company then this amount is his gain and incentive and his property....
  
  Features
  
• The Fixed Deposit is available in a single mode of operation.
• Maturity period ranges from 6 months to 10 years
• Minimum amount of deposit required is Rs.10,000 and beyond that deposits can be in the multiples of Re.1.
• Interest is compounded quarterly and reinvested with the principal amount.
• Interest will be subject to TDS
• The Fixed Deposit cannot be auto-renewed
  
• Rate of interest is congruent to the current rates ion fixed deposits.
  
• Benefits
  Earn high returns on the money deposited
  Safe and Secure money deposit
  Flexible time period

Thus its going to be a good tool going forward to nail attrition in global business world. This gets a great potent weapon due to increasing returns on bank deposits after an all time low rates of interest for a period of last 4 years. This can work as a bonus and an incentive to them.......

Markets On Monday

• The US Job Data is not so good. Expectation was that of + 100000 jobs but results are a -4000 jobs....

• So Dow Jones was down..

• Broadly our markets should also operate in sync with it....

• But it also depends on how asia opens tomorrow.. most probably japan would be down...

• its an un even ride ahead till wednesday, it will precisely be direction less.. & extremely volatile and range bound.....

• any good new will lift the markets in short run

• wait for 18th september, as FED is going to announce a rate cut, nobody knows will it be 25 basis points or 50 basis points..... but it will b +ve for markets

• Thus finally my assessment is that India will also be down tomorrow atleast in the opening trading hours....
  my expectation is 300 points............................

• But all in all seeing the diwali as an immediate target there are all indications of a very good and big Upswing in the Indian markets...... so Enjoy....

Disclaimer: The views, research & analysis shown are solely of the author... And the author has interests in Indian stock markets... Capital Market investments are risky and investors must do research and take caution while investing....

GET YOUR VIRTUAL DRIVE - BUT EXERCISE SOME CAUTION

GMAIL DRIVE:

Are you suffered from the loss of data from your computer because of any technical problem?

Or are you willing to assess the data saved in your computer form anywhere in the world?

Here is the function for you….

Try out Gmail drive. This is a virtual drive with the space of 2 GB available for you. You can save the data up to this limit in the drive. More than this, the drive is password protected so nobody else you can access the drive. Form anywhere in the world you are able to see the data as well as work on the data.

No matter in your computer is totally affected form virus; they can not hang up in this drive because this drive is not on your computer server or hard disk.

And all this available free of cost…

Steps to go with Gmail Drive:

Step 1: Create an account with Gmail

This is as easy as you are creating your email account with any other site.

Go at http://www.gmail.com/ click on creat an account, fill the formalities and got the account access.

Step 2: Download Gmail Drive

Now you need to download the drive software form site

Go and push on http://www.filehippo.com/download_gmail_drive/ here on this site at the right top corner a link is available ‘Download latest version’. Go and click on this link, shortly you will get a Zip file on your PC. Visit this zip file and go through the information. Among the contains the last is Gmail Drive Set Up. Make the set up for your PC.

Step 3: Get access on your Gmail Drive

Congratulations ………. Go to your ‘My Computer’, here with other drives you will find a new drive called Gmail Drive

As you double on this drive, you will be asked to give the username and password. Here enter your gmail address name and the password you had given for that email….

Now onwards by giving the username and password you can use this Drive any time from anywhere.

Precautions:

Take care about the following things

1. Whatever you paste in your Gmail Drive, the backup of that item will land at your Gmail’s email ID. So by deleting this mail backup, you will loose the information/software anything you saved on your Gmail Drive.
2. To access from any other computer, the drive should be already there or you need to download as described in the step 2.
3. You can not use this drive to install any software on your computer.

Some bigger Precautions or a CAVEAT & a word of Caution !!!!:

1. Gmail Drive is a Third party 'add on' for Microsoft windows & not provided by google....
2. Restrictions on the Gmail service are also enforced when using GMail Drive. For example, files larger than 20 MB cannot be uploaded, as the maximum file size of Gmail attachments is 20 MB
3. Gmail also prevented users from transferring certain file types, such as an executable or ZIP archive. Some users bypassed this restriction by renaming the file extension or by putting it into a RAR or 7zip archive.
4. Again GMail Drive is an experimental package that depends on but is not provided by Google.
5. Changes in Google's Gmail system may render GMail Drive temporarily or permanently inoperable.
6. The Gmail Program Policies do not explicitly ban or permit GMail Drive, shell namespace extensions, or the use of Gmail storage space for files other than e-mail.
7. Nonetheless, use of GMail Drive may trigger Google to temporarily suspend a Gmail account.

Thus all in all this is a good forward looking technology !!! Hope it use picks up !

Business News 07-09-2007 ANW 99 Exclusive

some brisk news first

• Bank of England keeps interest rates unchanged at 5.75%

• China raises Bank's Reserve Ratio requirement by 50 bps to 12.5%

• April - August direct tax mop up at Rs 61,030 Cr, Up 42% (YoY). This is the clear result of higher corporate tax realizations and continued or moderately increased individual tax realizations!

• What ??? Steve Jobs Apologizing ? yes in case of what is termed as the technologically superior or far superior but featuristically inferior iphone as inferred from expert reviews... He apologised to iPhone customers and offered a $100 store credit, following Apple's decision to cut the gadget's price by $200 just two months after its release. All hype cant be the resource for expected success.... They will learn from the mistakes and we are surely going to see iphone part II very sooooooooon.... Also Apple Inc. introduced a new range of ipods with WiFi & a Touchscreen !!

• Intel Unveils Xeon Quad Core Processors, for servers. These are capable of multitasking and are similar to 4 processing brains packed on a single micro chip... They are also compatible with their new 45 nano meter manufacturing technology....

• This is why Venture Capitalists & PE firms mean Business!! They are the masters of the game.... Cerebrus Capital Mangament LLP, yes the proud 80.1% owners of Chrysler Corp. have shown their executive luring ability from rivals!!! They hired Long time Toyota Motor Corp. North America chief executive Jim Press as V. chairman & president. This is the 2nd executive they snagged from Toyota. First a marketing head of Lexus Ms. Deborah Wahl Meyer was hired as CMO now Mr. Press. Also this is the PE firm who appointed Mr. Robert Nardelli ex. controversial CEO of Home Depot Inc. as CEO of Chrysler some time back..... They mean business and are on track for revival of chrysler as visible as per their recent deeds !!!!!

• Remember the controversy on GSPC gas find about the actual gas reserve size of the well ? NOw GSPC has tasted its success in KG-8 gas well Appraisal drilling which will substantially increase the reserve size from DGH (upstream regulator & more or less most controversial figure in exploration of oil & gas in india) estimated 1.38 trillian cubic feet.... Remember that GSPC was of opinion that the gas find was economically valued at around $50 Bn then !! Even if this increases the valuation by some modest estimates even then it will be a sizeable gas find after reliance KG gas find or even may topple its record!!! who knows !

• In a recent move SEBI has pushed for Waiver of Entry Load in all Mutual fund investments... But all the leading Asset Management Companies have opposed this move !!!!! Keep watching what happens ultimately ??

• Kai Nargolwala joins Credit Suisse as Chief Executive Officer for APac - Asia Pacific. He is joining CS from Standard Chartered.

• LIC - Life Insurance Corporation, India's no. 1 insurer is partnering GE Money, Corporation Bank, LIC Housing Finance & LIC Mutual Fund for starting its Credit Card venture. Good News Now they should start giving credit cards to all the policy holders of LIC and as the number of policies increases with amount of insurance they should give credit limit..... so this will help us keep at BAy the companies like ICICI & SBI etc. who charge exhorbitant interest rates in some cases in excess of 40% and help LIC take over a sizeable market share.... But they must keep revolving credit interest rates moderate!!!!!!

• Securitization Market or the market for structured finance has made an estounding come back in India after the slump of the past year. As per Moody's data the total transactions in this year's H1 half year part the deals totalled around $5.5 Billion. Last year the full year deals were just about $6 Billion!!

• Stora Enso, A finland based World's Largest paper maker in an write off of its assets removed charges or value worth $2.4 Billion from its books!!! The reason being higher wood costs & the worsening outlook for magazine papers! They did this restructuring and still this work continues!! Magazine paper selling problems -- people this may be the result of growing popularity of online edititons may be ??? who knows?

we really thank all the news sources for the wonderful and knowledge enhancing insights they have provided us.

Thanks for reading!!!

Business News 06-09-2007

• NTPC is in a 50-50 JV with TN Elec for thermal power project - the cost of the whole project is estimated to be Rs. 5400 crores. What we see is that NTPC as a company doest not want to loosen its capacity expansion drive seeing the delay in the policy allowing them to enter in to the Nuclear power sector. They will try to build on the capacity through the conventional sources amidst the increasing shortage of power in the country.

• Tata Motors has said that they will announce exact price of Rs 1Lk car closer to Launch! we see a hype being built around the launch! good even they can now market them proactively!

• SBI's follow on public offer is thought to have been delayed due to the market volatility & the better valuation expectations & the government dictat. But the bottomline is that the country's number 1 & largest public sector bank is facing a cash crunch ! ! They need capital replenishment so SBI is looking to make rights issue before end of 2007. plus write now immediately State Bank of India will raise about Rs 1,500 crore through a bond issue this week. The core issue to be set at Rs. 1000 crore plus Rs. 500 crore over subscription option. This is a part of Tier II capital. FM sir please take a call on SBI FPO fast or infuse new govt. funds if it wants to maintain its number 1 position.

• Hurrray ! SEBI eases de-listing norms for Small companies. The new de-listing norms approved by the SEBI Board state that companies with paid up capital of Rs 1 crore don't need to make public announcement to buyback shares from investor. They could privately contact shareholders and they are also exempted from the reverse book-building process for fixing the price. The promoters could directly negotiate with investors for buying back shares. So now penny stocks, small non existent companies can easily delist and stop clogging our stock exchanges!!! This is not a reprieve for bigger companies like i-flex, Alfa Laval & BESF who want to delist themselves.

• Come 2011, if everything goes well in the phase 2 combination trials of a new Anti Malaria Drug - then we may see Ranbaxy yes our own Ranbaxy to become 1st Indian Pharma company to launch a NEW CHEMICAL COMPOUND (NCE) globally !!! over a million people die of malaria worldwide and only 2 new drugs have come in last 30 years if everything goes well this could prove to be a boon to patients worldwide in developing countries.

• The Complete Man - Raymonds will now even dress Women. They launched a range of female designer apparels named ColorPlus. They are going to invest in the brand handsomely going forward around Rs. 400 crores! good now we can see even a complete Women!

• Boeing expects that the first of its 787 jetliners alias Dreamliners will be delivered on time in May 2008, although the initial test flight of the aircraft has been pushed back another two months.

• Global Advisors have shut down two two commodity Hedge Funds Due to the losses in all the Markets globally !

• Mergers and acquisitions could set a world record of more than $3.57 trillion this year without a megadeal from the kings of leveraged buyouts. so forget Blackstone or Kohlberg kravis roberts i.e. forget Stephen Schwarzman and Henry Kravis !!!!!! Even amidst subprime crises M&As are booming and the Takeover Fees earned to the advisors are really approaching record amount without the big hitters!!!!!!

• Mahindra & Mahindra has said that it has invested $ 6 to 7 million in developing its new army off roader 'Axe' primarily developed for selling it to Indian & Israeli Army

We really thank all the sources for these detailed knowledge enriching news and information