SumanSpeaks: The Information Super Highway

Jindal Photo Hits another Buyer Freeze: My earlier recommended VBC Ferro Alloys Ltd, Kernex Micro Systems Ltd, Vijay Shanti Builders Ltd, Jhunjhunwala Vanaspati etc. hits the buyer freeze: One should accumulate Ennore Coke Ltd. NEPC India Ltd and Premier Explosives Ltd on all declines: The market extend its rally for sixth straight session today led by real estate, cement and infrastructure stocks. However, IT shares faltered after TCS’ earnings disappointed. The market breadth was positive. Recovery in some Asian markets triggered a sharp pull-back from day’s lows in afternoon trade. Asian markets, which opened before Indian market, were in the red at the onset of the trading session after disappointing results posted by Bank of America Corp, the largest US retail bank, kept concerns about the fallout of the global credit crisis alive. However, markets in Hong Kong, China and Singapore recovered later. European markets, which opened after Indian markets, were in green. The 30-sha...

Carol Info Services, Jindal Photo Ltd,Vijay Shanti Builders Ltd, Southern Online Bio Technologies Ltd, Phoenix International Ltd hit the buyer freeze today: Sunday Report calls: NEPC India Lt & Cinemax India Ltd(Reached its target on the first day) did well today: My Earlier recommended Sunflag Iron and Steel Ltd, GTC Industries Ltd,MIRC Electronics Ltd, Hazoor Media Ltd, Amforge Industries Ltd, GTC Industries Ltd, Jhunjhunwala Vanaspati Ltd, Khoday Ltd, Atlanta Ltd, Ferro Alloys Corporation Ltd did well today: MANY DO NOT KNOW THAT MR.ANIL AMBANI HAS INDIRECT INTEREST IN THE NEPC INDIA LTD: Rally spills over to fifth consecutive trading session: The Indian stock market mirrored gains in global counterparts to posts decent rise, shrugging off a steep 50 basis points hike in cash reserve ratio (CRR) announced by the Reserve Bank of India late on Thursday, 17 April 2008. The market was closed on Friday, 18 April 2008, for a public holiday. With today’s gains...

Government for making CAS mandatory in Delhi, Mumbai, Kolkata and Chennai: The Government has proposed to make it mandatory for television viewers to use Conditional Access System (CAS). CAS has been implemented in the notified areas of Delhi, Mumbai, Kolkata and Chennai. The Government is now in the process of evaluating the implementation of CAS in the three metros and Chennai metro area. Information & Broadcasting Minister Priya Ranjan Dasmunsi in a statement said, “TRAI has recommended the extension of CAS in the balance area of the three metros on a mandatory basis. TRAI has also forwarded a report of the Group formed of members from different segments of the broadcasting and cable sector to suggest options and roadmap for voluntary introduction of CAS and digitalisation in cable television in the country on a voluntary-cum-mandatory basis.” “The Group has recommended a voluntary-cum-mandatory approach to introduction of CAS in 55 cities, which include all the cities with mi...

While Inflation is definitely a cause of concern, but NDA , BSP, SP and the retrograde Left Parties should stop politicising it--this is annoying, hackneyed and opportunistic in nature. The current Inflation figures are much better as compared to the immediate past. These cheap politics will not win Votes for the Opposition and Left Parties, at the end of the day as people are not fool. Yes there might be some loopholes in the UPA's policies but with Crude Oil at $100 plus per barrel and food prices shooting over the roof in the International Markets, the Government of India is somewhat helpless. It is doing all it can do stop the wanton rise of Inflation: But I was not at all happy with the "Sledge Hammer Approach of the UPA " to tame the "Inflation tiger". There was no need to contain inflation within 2-3 months and fall into the Opposition trap. The CRR hike simply proved that the earlier steps taken by the government were all useless--a discredit which ...

Walchandnagar industries receives order from Navy, ISRO: Mumbai, Apr 17: Walchandnagar Industries Limited, one of India's leading Engineering Companies, has bagged two prestigious orders, worth around Rs 150 crore from the Indian Navy and Indian Space Research Organisation (ISRO). Walchandnagar Industries Limited Managing Director Chirag Doshi, in a release here, said the two highly prestigious orders had been received by WIL in its centenary year. The acquisition of these orders highlight the strengths of engineering excellence and high technology manufacturing and fabrication.WIL has been closely associated with Navy and ISRO and has partnered these organisations of national importance in producing highly critical and sophisticated components.WIL has been associated with satellite launching vehicle programme of ISRO since inception and have supplied large number of critical components which include flight motor casings and nozzles, flight motor segments, domes, nose caps etc. for...

Bhuwalka Steel takes stake in Bellary based BSIPL: Mumbai: Bhuwalka Steel Industries Ltd has acquired 2.99 lakh equity shares of Bellary-based Benaka Sponge Iron Pvt Ltd (BSIPL) in an all cash deal of Rs 10.02 crore. The Rs 100 share was acquird at Rs 334 per share, the Company said in a release here today.BSIPL is strategically, located in Belagal Village, Bellary, having proximity to iron ore belt yielding logistic advantage. The acquisition would enable the Company to have backward integration and have synergy with the operations of the Company.BSIPL is an existing, profit making Company and its net worth as on March 31, 2007 was Rs 10.02 crores as per the audited balance sheet. BSIPL posted a turnover of Rs 40.21 crores with a PAT of Rs 2.02 crores during 2006-07 and it is estimated to post a turnover of Rs 59 crores with a PAT of about Rs 2.80 crores for the year 2007-08.Benaka has at present two Kilns of coal-based sponge iron plant of the capacity of 100 tonne per day each. With...

My recently recommended Southern Online Bio-Technology Ltd, Phoenix International Ltd, Entegra Ltd, VBC Industries Ltd, STL Global Ltd, BF Utilities Ltd, Kalpana Industries Ltd (This week's quickie call), Kohinoor Broadcasting Corporation Ltd, Vikas Metal Ltd(this week's quickie call), Indsil Electrosmelts Ltd, etc. hit the buyer freeze: My earlier recommended H B Stock Holdings Ltd, BLB Ltd, Kanishk Steel and Industries Ltd, Jhunjhunwala Vanaspati Ltd, Dhoot Industrial Finance Ltd, PNB Gilts Ltd, Rasoi Ltd, Associated Alcohol and Breweries Ltd, Mcleod Russel Ltd, Williamson Magor, Sunflag Iron, Minda Industries Ltd, GTC Industries Ltd, Khoday India Ltd, Kamanwala Industries Ltd etc. hit the buyer freezes: Even H S India Ltd did well today : The Intra-day call given to V S Patini on CESC Ltd at Rs.433 shot up to Rs.454 in late trade, giving him handsome gains, intra-day: RBI Governor again proves that he is no better than a "Paan wala" in term of taking measures to...

My very recently Recommended Phoenix International Ltd (What is the new story in the company?), Kohinoor Broadcasting Corportion Ltd (What is the new twist in the story which is making it look even more attractive), Southern Online Bio Technologies Ltd (SBTL), Vikas Metal Ltd (This week's Quickie Call), K Sera Sera Productions Ltd (Huge Pending Orders), Innocorp Ltd, RSWM Ltd (Buy Call given yesterday to the Paid Groups), Jhunjhunwala Vanaspati Ltd, Kernex Microsystems Ltd and so on hit the buyer freeze bringing Joy, both for the Paid and Free Group members: Another of last Sunday Report Call, Lakshmi Electrical Control Systems Ltd recommended at around Rs.272, hit Rs.310 today giving good retuns to the PAID GROUP MEMBERS IN LESS THAN 15 DAYS: Today's "Quickie Call", Kalpana Industries Ltd also did well: Earlier my recommended Rajoo Engineers Ltd, Minda Industries Ltd, Radhe Developers Ltd, India Foils Ltd, Indsil Electrosmelts Ltd, BPL Ltd etc did very well to...

More steps in offing to battle Price Rise: New Delhi: The cabinet committee on prices (CCP) will meet early next week to take a decision on fresh steps that the government is contemplating to tame the price demon. The steps being considered include raising export tax on iron ore, s lashing customs duty on steel and zinc imports to zero, banning all steel exports, bolstering supplies through higher imports and putting oilseeds futures on hold as demanded by the Left. “We have recommended a ban on export of finished steel products,” Union steel minister Ram Vilas Paswan said here today. The ministry has also asked the CCP to cut excise duty on the alloy to 8 per cent from 14 per cent, do away with import duty as well as the countervailing duty on steel products, besides imposing a 15 per cent duty on export of iron ore. Paswan also warned that steel might be brought under the essential commodities act if producers failed to reduce prices even after the introduction of these measures. Ac...

'Blaming steel price rise for inflation is unfair' N ew Delhi: The Indian Steel Alliance (ISA) and Associated Chambers of Commerce and Industry of India (Assocham) have criticised the central government for blaming the steel industry for the high rate of inflation . According to a statement issued Friday, the industry bodies said the government was putting the entire blame for inflation on rising steel prices, ignoring the basic problems of the industry. Steel prices had been rising mainly due to the unhindered rise of input costs, said Moosa Raza, president of ISA. Global events coupled with rising input costs have forced the steel producers to raise prices as most of the primary domestic steel producers are dependent on National Mineral Development Corp (NMDC) for iron ore supplies, on Coal India for coal and on the railways for transport. "The galloping exports of iron ore are threatening the future of the steel industry. The ISA has been pleading for two years to cur...

Weekend Reading: Scientists Get Closer to Center of the Earth By Jeanna Bryner Fiery journeys to the center of the Earth occur only in the sci-fi realm, but now scientists have laid out a way to pinpoint our planet’s center of mass, providing a more accurate map of that core destination. The results will lead to critical information for studying earthquakes, volcanoes, global sea-level rise and warming, and a post-glacial rise in some surface areas related to the melting of ice sheets. Until now, scientists have defined Earth’s center of mass in two ways—either as the mass center of Earth as a single object or as the mass-center of Earth’s system, including ice sheets , oceans and our atmosphere in the equation. Jell-O planet It's tricky finding the center of a giant, squishy object, scientists say. "By its very nature, Earth's reference frame is moderately uncertain no matter how it is defined," said Donald Argus of NASA’s Jet Propulsion Laboratory in Cali...

Weekend Reading: Why Beautiful Women Marry Less Attractive Men: Secret to Marital Bliss??!! Women seeking a lifelong mate might do well to choose the guy a notch below them in the looks category. New research reveals couples in which the wife is better looking than her husband are more positive and supportive than other match-ups. The reason, researchers suspect, is that men place great value on beauty , whereas women are more interested in having a supportive husband. Researchers admit that looks are subjective, but studies show there are some universal standards, including large eyes, "baby face" features, symmetric faces , so-called average faces, and specific waist-hip ratios in men versus women. Past research has shown that individuals with comparable stunning looks are attracted to each other and once they hook up they report greater relationship satisfaction. These studies, however, are mainly based on new couples, showing that absolute beauty is important in the earl...

Hardly anything to derail India's growth: IMF WASHINGTON: There is hardly anything to derail the economic progress of India, as the underlying fundamentals of growth will not come off even if managing bumps along the way turns out to be challenging, a senior official of the International Monetary Fu nd said. "To my mind, it is hard to see something that is significantly going to derail the progress. There are going to be bumps along the road and managing those bumps are going to be quite challenging," said Ms Kalpana Kochhar the Senior Advisor in the Asia an d Pacific Department of the Fund. But the underlying fundamental growth story has been based on productivity, investments needs and the private sector and I don't see that coming off, Ms Kochhar reasoned. "It would not be unreasonable to assume that some of the credit market turmoil would spill over into India. Investment is the big story... that has been the one driving growth in the last couple of years an...

Locals rush in where FIIs fear to trade Vijay Gurav MUMBAI: Foreign institutional investors (FIIs) may have turned bearish on the Indian bourses but domestic entities appear to have taken a bold call on the market, absorbing some part of the fund-based selling in the last quarter. The bear market has seen a fall in FII holding and a rise in the holdings of local players like promoters, financial institutions and the public. Bombay Dyeing, Reliance Energy, RNRL, Tata Teleservices, HDFC Bank and L&T are among companies where domestic investors have increased their exposure while FIIs pared their stakes substantially. However, sustained buying on the part of domestic investors, was clearly not sufficient to save the market from the sharp fall recorded in the last quarter. The Sensex tanked 4,700 points, or 23%, during the period. Foreign investors were net sellers for over Rs 12,000 crore, or $3 billion, during the January-March quarter, in part due to unwinding of P-note positions. ...

Pledge to boost exports: New Delhi: The government yesterdayt set an ambitious export target of $200 billion for 2008-09 by extending the duration of a slew of sops. Commerce minister Kamal Nath said exports for 2007-08 would exceed $155 billion, falling just short of the $160-billion-target because of the appreciation of the rupee against the dollar. Setting the target of a 5 per cent share of world trade by 2020 from 1.5 per cent now, the government announced that tax refunds and interest subsidies for many products would continue for another year. There would also be new incentives to promote the exports of vegetables, sports goods, toys and computer hardware. “Ambitious it may be, but achieving it is not impossible. It means we will have to ensure an average annual growth rate of 25 per cent consistently for the next 12 years,” Nath said at the announcement of the annual supplement to the foreign trade policy. A big challenge: According to Ganesh K. Gupta, president of the Federa...

Turner tunes in to India Prime Time: Indian Media Sector is all set to Blast off: Mumbai: Turner Broadcasting System, an arm of entertainment firm Time Warner, has lined up an aggressive growth plan for India. Turner is setting up its own production house for animation movies. It will also launch a television channel in association with Warner Brothers, which will show the latest Hollywood releases and television series. This is the first Turner-Warner collaboration in the world. “We will identify and develop local partners for the animation venture. Initially, we will produce two animation films every year and the first movie will be screened in 2009. For starters, we’ll make these movies in English and may later venture into Hindi and other languages,” said Anshuman Misra, managing director of Turner International India Pvt Ltd. The company, however, will not set up a studio and use its collaborator’s studio to make the movies, said Misra. Turner has also tied up with the Alva broth...

Ore-rich states to retain mine edge New Delhi: Mineral-rich states will have their say in mine allocation in the new ore policy, a senior government official said today. “There is nothing in the policy that can reduce their (states) powers,” said mines secretary J.P. Singh. He hoped the issue of mineral royalty would be resolved in the next cabinet meeting as the mines ministry had already forwarded its views. States have been demanding that instead of a flat rate on minerals, royalties should be based on their value. The chief ministers of four non-Congress states and a minister from Jharkhand, which is ruled by a Congress-supported coalition government, had written to Prime Minister Manmohan Singh, saying “the states’ right to select the best applicant (for mining rights) should not be compromised in the name of seamless transition or security of tenure and should not be usurped by the Centre under any pretext”. The central government’s new policy will forbid the allocation of mines ...

India's inflation will moderate to 5.2 percent: IMF By Arun Kumar, Washington: Even as India's annual rate of inflation has touched a three-year high of seven percent in recent weeks, the International Monetary Fund (IMF) says it will moderate to 5.2 percent in the current calendar year. In its latest World Economic Outlook, the Washington-based organisation says inflationary expectations had picked up around the globe due to sharp increases in food and energy prices, particularly intensifying in emerging economies. But in India the alarming rise in consumer prices in the recent past is expected to moderate to 5.2 percent in 2008 and four percent in 2009, as against 6.4 percent in 2007, the organisation predicts. At the same time it has projected that the country's economic growth will slow down to 7.9 percent this year, against 9.2 percent in 2007, but again increase slightly to 8 percent in the year after. "In India, monetary tightening earlier in the year led to a...