Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Tuesday, July 09, 2013

This is no time to bet against Re, never mind Chidambaram
Reason: 60 is probably the number at which every business starts looking different - especially those which have a dollar component in their costs or revenues. If the dollar is in costs - as in foreign debt or import components -businesses will import less; if it's in revenues, you will start seeing a revival in export earnings. Therefore, buy the stocks/shares of IT, Textile, and Pharmaceutical companies, which might see a boost in their export earnings. Also, the Real Estate companies might see, more inflow of foreign capital, as the INR becomes cheaper against the USD. Also, buy the shares of Kohinoor Broadcasting Corporation Ltd at Re.0.19, as it seems it is on the uptrend. Another point to be noted is that: As on March 31, 2012, Glodyne Technoserve Ltd's (CMP: Rs.9.20) subsidiaries included Glodyne Peoplepower Limited, Smaarftech Technologies Private Limited, Glodyne Technoserve Inc., DecisionOne Corporation USA and its 2 US subsidiaries, Glodyne Technoserve East Inc., Front Office Technologies, Inc., Compulink USA Inc., Compulink Software Pte. Ltd., Compulink Europe Ltd. Hence, a fall in INR is expected to have sentimental effect on the share price of Glodyne Tech Ltd.
From the looks of it, the Indian rupee does not appear to have found its bottom. Yesterday it had to be rescued from 61 to the US dollar with the Reserve Bank pitching in, but today it is under 60. In the days ahead this yo-yo movement on either side of 60 could well be the story.

However, this may be the time to start thinking contrarian on the rupee. This is not to say that it won't hit 65 in the short run or even take a good look at 70 - god knows, taking inflation differentials into account, 70 isn't that much of a stretch -�but the fact is 60 is a psychological turning point for the rupee. Regardless of what US Fed Chairman Ben Bernanke does with his quantitative programme later this year.

Reason: 60 is probably the number at which every business starts looking different - especially those which have a dollar component in their costs or revenues. If the dollar is in costs - as in foreign debt or import components -businesses will import less; if it's in revenues, you will start seeing a revival in export earnings.

Even more, at 60 to the dollar India is a steal for foreigners.

At even 5 percent economic growth, foreign direct investment would find much better returns when the rupee is at 60. Projects with an internal rate of return (IRR) of, say, 20 percent at 50 would now see an IRR of 24 percent. Unilever's recent buyback offer became a steal at 60�- with the company probably saving USD 400 million . It can now afford to have another go at buying out more investors with a higher price.

Non-resident Indians (NRIs) will find that Indian realty has gotten 15-20 percent cheaper . They can also now repatriate more to their relatives back home - and yet keep more dollars with them in their Gulf workplaces. NRIs will come home more often, and Indians will curtail travel abroad for tourism or pleasure.

Exporters - even if they are forced to cut prices - will find higher returns as they can now hedge less of their exposures and earn better returns. Software companies should be on cloud nine.

As energy becomes dearer, more people will converse fuel - creating a market for more fuel-efficient vehicles, etc.

Indian businesses whose products have a correlation to landed prices of imports - steel, for - will find their profits rising even when there are no imports.

More important, the hotter part of hot money that needed to flow out �-�of foreign investors in Indian debt - has flown out. It no longer makes sense to take your dollars out at this cost.

The point is the rupee has now reached a point from where the fundamentals of many economic decisions -for businesses, for individuals and for policy -makers. To be sure, these fundamentals were changing right through the time when the rupee went crashing through 53, then 55 and then 57 and then 60.

I believe that 60 is the number where there could be a clear psychological turning point for the rupee as it is 30-35 percent lower than where the currency was in 2010-11. Despite inflation, despite policy paralysis, despite economic mismanagement, the rupee may be about to find it feet.

If the rupee stabilises, the government will claim it was its efforts that did the trick. Don't believe it.� The rupee does not dance to P Chidambaram's tunes. It is on its own trip based on more fundamental fundamentals and right now it could well believe that it has arrived.

It is the dollar that should be a sell for Indians from now on.

The writer is editor-in-chief, digital and publishing, Network18 Group.

Courtesy: www.moneycontrol.com