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.
Saturday, February 07, 2015
Nifty ends below 8,700; Tata Motors slumps 5%
Now, tell me did I warn you of an impending BUBBLE formation in the AUTO SECTOR, 2-3 months back? If you remember, I spoke in several platforms, a number of times, of a sudden crash coming in this space. Now ask all these operators who come in various forms, both in the Print and Electronics media (and as an Analyst in Brokerage houses), to explain their rationale of giving 50 plus P/E to many stocks in the sectors. If you want to make money on a consistent basis, then keep away from FAD STOCKS. For example, several technology, media and telecom stocks surged exponentially in the late 1990s, only to crash later]
Mumbai February 6, 2015: Benchmark indices ended lower for the sixth straight session on heavy selling in shares of auto companies with Tata Motors leading the decline on weak third quarter earnings. Further, investors remained cautious ahead of the US jobs and wages data due to be released later in the day for further clues as to when the Federal Reserve might raise interest rates.
The Delhi assembly polls on 7 February is likely to dictate the trend on the bourses on Monday as market participants remain wary of the outcome.
The 30-share Sensex lost 133 points to end at 28,718 mark and the Nifty slipped 51 points to close at 8,661.
Among broader markets, BSE Midcap and Smallcap indices underperformed the benchmark indices- BSE Midcap and Smallcap indices plunged between 1-2% .
Meanwhile, foreign portfolio investors sold shares worth a net Rs 27.43 crore yesterday, 5 February 2015, as per provisional data.
Surprise rate cut by RBI coupled with additional liquidity announcement from ECB have led to excellent gains in the market. With reduction in policy rates, focus is now on government action on reforms and fiscal consolidation. Expected announcements in the Union Budget as well as action on recently passed ordinances would be closely watched out for in the near term, Dipen Shah, head- private client group research, Kotak Securities added.
Japanese shares rose on Friday after oil prices rebounded, but investors remained cautious ahead of a U.S. jobs report later in the day that could give clues on the timing of the U.S. Federal Reserve's plan to raise rates. The Nikkei share average ended 0.8% higher at 17,648. For the week, the Nikkei fell 0.1 %. Meanwhile, the Hang Seng index fell 0.4%, to 24,679.39, while the Shanghai Composite Index lost 1.9%, to 3,076 points.
Further, european stocks fall ahead of the U.S. non-farm payrolls report for January due later in the day with Germany dropping the most. The DAX is down 0.66% while France's CAC 40 has lost 0.27% and London's FTSE 100 is lower by 0.06%.
In line with equity markets, the rupee fell by three paise to 61.76 against the American currency on fresh dollar demand from banks and importers.
On the sectoral front, BSE Auto index was the top loser down nearly 3% followed by Healthcare, Bankex, Oil & Gas and Power indices down over 1%. However, BSE IT, Teck and FMCG emerged as the gainers and were up nearly 1% each.
From the Auto space, Tata Motors, M&M, Hero Moto, Bajaj Auto and Maruti Suzuki slipped between 0.5-5%.
Shares of Tata Motors ended lower by 5% after India’s biggest automobile manufacturer missed estimates by a huge margin. Net profit fell 25.5 per cent to Rs 3,581 crore from Rs 4,804 crore in the year-ago period. Unfavourable revaluations of foreign currency debt, unrealised hedges, higher depreciation and amortisation and a provision for capital cost of buildings at Singur, amounting to Rs 310 crore, also impacted margins and profits.
Among banks, Axis Bank, HDFC Bank, SBI and ICICI Bank dipped between 0.5-2.5%.
HDFC Bank dropped over 2%. It has raised around Rs 10,500 crore through simultaneous share sales to institutional investors on Indian and US exchanges.
Banking stocks gained focus in focus after the Reserve Bank of India said in its guidelines for implementation of Countercyclical Capital Buffer (CCCB) that the CCCB may be maintained in the form of Common Equity Tier 1 (CET 1) capital or other fully loss absorbing capital only, and that the amount of the CCCB may vary from 0 to 2.5% of total risk weighted assets (RWA) of the banks.
GAIL and Tata Steel slipped between 1-3% on caution ahead of the announcement of its Q3 results later during the day.
Shares of Cipla lost over 1%.The pharmaceutical major, Cipla and Pune-based unlisted Serum Institute will plan a marketing tie up under which Cipla will sell Serum's products in selected markets abroad. Among its peers, Sun Pharma and Dr Reddy’s Lab lost between 1-2.5%.
BHEL, Tata Power, Coal India, ONGC and RIL were some of the notables losers and lost between 1-5%.
On the flip side, HDFC, Sesa Sterlite and ITC gained between 1-2.5%.
Shares of Infosys ended higher by 1.6% on the BSE after Infosys BPO secured an IT services deal with Dutch insurance services firm a.S.R. for supporting back-office operations. Among its peers, Wipro and TCS gained 0.75 each.
Orange SA has explored various acquisitions in Africa, including assets owned by Bharti Airtel Ltd, as the French company seeks to bolster its business in the region, according to people. The stock climbed 1%.
Markets breadth on the BSE ended weak with 2,010 shares declining and 863 shares advancing.
Courtesy: The Business Standard