Ramat-Jagat
Share Market
Friday, October 26, 2007
Posted by Snehsan Markets This Week
BSE Midcap up over 9% Smallcap up 8.5%
Cap Goods up over 20% Bankex up over 15%
Metals up 15% Realty up over 10%
L&T up 12% RPL up 7%
NALCO up 6.5% SBI up 7%
"The board also decided that further issuance of P-Notes by the sub-accounts of FIIs to be discontinued," he explained.
Analysts feel that Thursday's decision is a good move for the markets in the long-run.
"I don't think that the hedge funds are pulling out of India. My understanding is that they will now regulate the inflows," said Deven Choksey, MD, K R Choksey Securities.
According to Thursday's proposals, a single investor can hold up to 49 per cent in broad based fund, which means that it could be easier for smaller hedge funds to come together to launch broad based funds which needs at least 20 investors.
"There are a few grey areas in the SEBI policy. FII inflows may take a little more time to come into India," said Amisha Vora, Joint MD, Prabhudas Lilladher.
Leading the charge at the Sensex on Friday was Larsen & Toubro. The counter surged 12.2 per cent or Rs 420 on the back of strong second quarter results. The company reported a net profit of Rs 348 crore for Q2FY08, an increase of 73 per cent.
SBI, BHEL, Mahindra & Mahindra, ONGC, ICICI Bank, Satyam Computer, NTPC, Reliance Industries, Tata Motors, Maruti Suzuki India and TCS were some of the other notable gainers.
However, Bharti Airtel at Rs 993 levels skidded 2.6 per cent or Rs 26. Hindustan Unilever, Ambuja Cements, ITC Limited, Ranbaxy, Cipla and Dr Reddys also lost ground.
Banks firm
Among sectoral indices, the BSE capital goods index was the top gainer that vaulted 7.2 per cent or 1,239 points by close. Dredging Corporation (up 17.7 per cent), Lakshmi Machine Works (up 15 per cent), Gammon India (up 12.4 per cent) and BEML (up 7.5 per cent) were the top gainers besides Larsen & Toubro.
DLF Limited and Akruti Nirman logged gains of over four per cent each in the realty pack. Parsvnath Developers, HDIL, Sobha Developers, Peninsula Land, Omaxe Limited, Anant Raj Industries, Unitech Limited also held firm.
Strength was also visible in metal counters. Jindal Steel & Power, NALCO, SAIL, Bhushan Steel, Sterlite Industries, Sesa Goa, Welspun India, Hindalco, Hindustan Zinc and Tata Steel were some of the top gainers.
Entertainment
The games Bipasha likes to play
We couldn’t help, but kept guessing what a beautiful dusky woman like her is doing in an all men sports film like football?
Dusky beauty Bipasha Basu is back in the news and this time it’s not her alleged link-up with Saif which is hogging the limelight, but the compliments she is getting for her look in Goal.
Labels: bipasha, buzz, dusky woman, football, games, gandhi, goal, horn, India, john abraham, limelight, nana patekar, spiderman, spidy, topi
Health & Science
Health News
All must read it :
Ages 30-40 use anti-wrinkle drugs
MUMBAI: Wrinkle-reducing drug Botox has so far found more users in the age group of 30 to 40 years in India, despite a marketing campaign and messages targetting people aged above that category.
Labels: age group, ailments, anti-wrinkle drugs, cosmetic application, crucial, drug, muscle, nagi, patients, segment
HEALTH & SCIENCE
Ages 30-40 use anti-wrinkle drugs
MUMBAI: Wrinkle-reducing drug Botox has so far found more users in the age group of 30 to 40 years in India, despite a marketing campaign and messages targetting people aged above that category.
Paulson to focus on infrastructure access, financial reforms on India trip
Wednesday, October 24, 2007
Posted by SnehsanIndia News...
WASHINGTON (Thomson Financial) - US Treasury Secretary Henry Paulson will press Indian officials next week to loosen investment restrictions in order to attract overseas investment that can be used to build infrastructure within the country, and will also offer US support for India's plans to build a new financial services industry in Mumbai।
Paulson, who will travel to India next week, said India's work in these two areas is needed in order to further open and expand India's economy।
'It is in the best interest of India, the United States and the world for India to continue, and even accelerate, the pace of economic reform and openness,' Paulson said in remarks to the Council on Foreign Relations today।
Paulson said India plans to spend as much as 500 bln usd over the next five years on infrastructure improvements, including those that will help meet India's growing energy demands। He said the US wants to help India attract private infrastructure investment, but said the country can help itself by making it easier for foreign investment to flow into the country.
'The government can do more to encourage this private investment by establishing more hospitable investment, regulatory and financial regimes,' he said today। 'Capital limitations, combined with on-going uncertainty about contract enforcement and regulatory consistency, will make infrastructure investment more difficult to obtain.'
Paulson said he would attend a conference in Mumbai during his trip to help highlight investment opportunities for US companies।
Regarding the financial services center India wants to build in Mumbai, Paulson said he agreed with a report issued in India that says the country must make fiscal, monetary and financial reforms before this can happen। As one example, he said India must continue to loosen its capital controls.
He said he would meet with Indian regulators during his trip to discuss India's plans to develop Mumbai, which he and others see as a chance for companies to provide financial services to companies operating in India and wider Asia।
More generally, Paulson said that on the US side, he is 'committed' to ensuring a open investment regime, and said working together to conclude the ongoing Doha round of World Trade Organization talks would be the 'single most effective thing' both countries could do to ease living standards in India and around the world।
He also said the US continues to support the civil nuclear deal the two countries reached in 2005। That agreement could allow India to trade in nuclear-related materials as long as it allows inspectors from the UN's International Atomic Energy Association to inspect its nuclear facilities and continues its moratorium on nuclear weapons testing.
'This agreement will bring India into the nuclear nonproliferation mainstream, providing access to the technology which can help it reach its economic and environmental objectives,' Paulson said। 'The United States remains committed to this agreement.'
Pakistan switch game from Karachi
Pakistan's fifth one-day international against South Africa on Monday has been moved from Karachi to Lahore because of security concerns।
The South Africans did not want to play in Karachi after last week's bombing of former Prime Minister Benazir Bhutto's convoy in which 139 people were killed।
"We deeply regret this decision, especially for the people of Karachi।
"But members of our contingent are not comfortable travelling there," said team manager Logan Naidoo.
"If possible, we will play in Karachi when we tour Pakistan next time।"
Bomb attacks in the city have disrupted previous series, with New Zealand flying home in 2002 after an explosion close to their hotel, which killed 14 people.
Tricolour insult T20 champs in legal tangle
Labels: BCCI, Dhoni, Indian Team, Pakistan, Ravi Shastri, South Africa, T20 Champs, Tricolour insult, Witnesses, Yuvaraj Singh