‘Speculators driving Sensex’
Finance minister P Chidambaram today attributed the recent surge in stock markets to speculators and hoped "things will cool down soon" — a prediction reflected in the plummeting Sensex.
"To some extent speculators are taking advantage of the rise in the Sensex... Things will cool down," he said on the sidelines of the Hindustan Times Leadership Summit here. The 30-share BSE index today fell by 395.03 points to 18,419.04, against the record high level of 18,814.07 reached in yesterday's trading.
Chidambaram, who had cautioned retail investors from entering the market when it crossed 18,000 points, said: "Sensex is an index of 30 stocks (and) as such it is a number.
We don't invest our future in Sensex." "Steep rise in Sensex sometimes surprises me, sometimes worries me. I do not think fundamentals change so rapidly day-to-day. Our assessment tells us Sensex is driven by copious inflow of funds," he said.
TITNAIC
TODAY Nifty in sport(cash is 5428 about almost100 points free fall) Wait we will do here work for portfolio management for you we don't ask for money just to guide is our aim those who read your web and believe in us try to send the web as many inverters so that they will take the banalities of stock market and grow with us we will do your best for inverters we are having some technical anatomists. Some mails we got some says you have having any magical stickies and many ask for us for paid services today we got 1678 emails for paid serviles we will soon do this but here we will publish all i mean for short investor , wil get all what he needed paid serviles benefits will only those took who likely to invest more than 1O0000$ we have very high charges 2000$ for 20 sessions fess try to enjoy free only those mails us who are HNIS if u want to ask any stock sepicfic kindly mail us only one stock we answer you Your email is
usasparrow@yahoo.comHow can you tell the difference between a boom and a bubble?
Stock markets around the world have been falling sharply on fears of a credit crunch that could affect the financial sector. What is causing the fall and how will it affect the ordinary individual?
What has been happening to the world's stock markets?
The value of the world's major companies has taken a tumble as the world's stock markets have plunged in recent days - one of several such sharp declines in the past few months. EXCLUDING INDIA
The move has wiped billions of dollars off the value of shares owned by individuals and institutions such as pension funds and insurance companies.
This most recent fall started when a French bank, BNP, said it would freeze three investment funds because it could no longer accurately measure their value.
Markets fell around the world because they were nervous that the problems are not just confined to French banks, but are more widespread in the financial sector - especially in relation to sub-prime mortgage lending.
Why did central banks intervene?
It was not just stock markets that have been worried.
Interest rates in credit markets - such as the bonds issued by companies and governments - have been rising as investors price in previously unknown risks.
Fears that more undisclosed bad debts would surface in the banking sector led other banks to cut back on their everyday lending to one another.
This drove up the bank's overnight lending rate, which usually tracks the base rate set by central banks.
In London, as the crisis began, the cost of overnight lending (the London Interbank Offered Rate) rose dramatically, from 5.85% on Wednesday 8 August to 6.45% on Friday 10 August, and similar sharp changes occured in Frankfurt and New York.
If this had continued, it would have undercut the ability of world central banks to regulate interest rates, and would have raised the cost of borrowing across the board.
That led the European Central Bank and the US Federal Reserve to step in and pump in billions of dollars to prop up the financial system.
What are the markets worried about?
The underlying fear relates to the collapse of the so-called sub-prime mortgage market in the US.
In the past five years, extraordinarily low interest rates in the US have led banks and other financial institutions to lend substantial sums of money to people with poor or no credit histories.
The idea was that, even if they eventually couldn't pay, the banks could recoup any losses by repossessing and reselling the houses - and in any case, house price rises would cushion the blow.
In the most extreme cases, mortgage brokers were handing out what came to be known as "Ninja" loans, to people with no income and no job or assets.
Often the loans were "no-doc", where the borrower did not have to provide proof of how much they earned. Recent research suggests that in many if not most of these, borrowers (or their brokers) lied about their income.
But now as interest rates have risen, so have repossessions. The US housing market has collapsed and the banks find themselves saddled with a lot of bad debts.
However, it is not just a problem for US banks.
Globalisation has meant that much of this mortgage debt has been sliced up into small pieces, repackaged as "collaterised mortgage obligations" and sold on to financial institutions and individual investors around the world.
And now, no one, including the central banks, is certain how much of these bad debt financial institutions or individuals are holding.
What are the wider implications?
Even if the central banks stem the financial panic, there seems to have been a general shift in market perceptions about risk.
Generally, the riskier the investment, the higher the interest rate - but now the additional premium for risky investments (the "spread") is set to widen sharply.
When people with money to lend become worried about risks, they tend to put their money in safe investments.
So there has been a rush to invest in government bonds, like US Treasury bonds, and safe currencies, like the dollar.
In contrast, people are now demanding much higher interest rates to lend to smaller companies or to the governments of developing countries.
Investors have also grown wary of lending to private equity funds who want to buy and sell companies.
This may mean that this is much less takeover activity than in the past few years, which could also affect the stock market.
How long will it go on?
Stock market fluctuations are a normal part of stock market activity, and no one can say how far shares could fall or how long the slowdown could persist.
Markets have had quite a sharp rise in the past 18 months, and the current correction may simply return them to previous levels.
Broadly, company profits have been strong and the world economy seems to be entering a period of revival, especially in Europe and Japan.
However, stock markets look at future expectations, so they may be concerned that corporate profits have already peaked.
What does it mean to you?
Many individuals own stocks and shares - about half of all US households, and around a quarter of those in the UK.
If the stock market falls continue, they may feel less wealthy - and be less likely to buy goods and services, slowing the economy.
In addition, many pension funds own shares which make up part of their portfolio used to pay people's occupational pensions.
If shares fall, they may have less money to pay future pensions, and employee contributions may have to rise.
we have archived 5546 nifty can go to 5710 if today reliance announces bounce otherwise we will here only do one thing sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell and wait for your massages to buy if one believes in shorts short only nifty with a stop loss of 5710 we will buy again on 4980 if u rem this level last it will come here you will see 500 ponits volatility in few days
TEC mindra is going to trigger IT industry in line with infy now buy at1367 future no stop loss targ1489 see the flying movement in few mins
posted at 1:26 Indian time
Now for tomorrow BUY DLF 860 CALL@51AND SELL960CALL@22
POSTEDAT: 2:15AM
Infosys to Host Analyst Meet
Tuesday October 9, 5:30 pm ET
FREMONT, Calif.--(BUSINESS WIRE)--Infosys Technologies Limited (NASDAQ:INFY - News) announced that it will host its Annual Analyst Meet on Monday, October 22, 2007 at the Grand Hyatt New York, Park Avenue at Grand Central, NY 10017. The event will take place from 8.00 am to 1.30 pm and will conclude with lunch.
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Mr. S. Gopalakrishnan, CEO will speak on the state of the business. Mr. S. D. Shibulal will speak on the operational highlights. Subsequently, heads of various business units at Infosys will make presentations during the day. The meet will conclude with an executive open house session
The proceedings of the meet will be webcast on www.infosys.com. The presentations made by various participants and transcripts of the day's discussions will also be made available on www.infosys.com.
About Infosys Technologies Ltd
Infosys (NASDAQ:INFY - News) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 75,000 employees in over 40 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2007 and on Form 6-K for the quarter ended June 30, 2007. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Contact:
Infosys Technologies Ltd, US
Peter McLaughlin, 213-268-9363
Peter_Mclaughlin@infosys.com
Source: Infosys Technologies Limited
IGATE WE RECOMEDATED 2 DAYS BEFORE ON 255 NOW 347
Oct 10 (Reuters) - Shares in India's iGATE Global Solutions (IGAT.BO: Quote, Profile, Research) rose as much as 10 percent on Wednesday after the software services firm said its U.S. parent intends to buy out minority shareholders and it reported a sharp rise in profit.
The mid-sized firm, 81.1 percent owned by U.S.-based iGATE Corp (IGTE.O: Quote, Profile, Research), expects its strong outsourcing business momentum to continue regardless of the buyout plan, which will see its Indian shares delisted, its chief executive told Reuters.
iGATE Corp said the delisting of iGate Global, which earns about 25 percent of its revenue from General Electric (GE.N: Quote, Profile, Research), was expected to be completed by December 2007. iGATE Corp will continue to be listed on Nasdaq stock exchange.
At 0948 GMT, shares in iGATE Global were up 7.2 percent at 340 rupees, valuing the company at around $275 million, after opening up 10 percent at a four-month high of 348.80 rupees.
A consortium led by Anil Dhirubhai Ambani owned
Reliance Energy Limited (REL)
has bagged the Rs. 6,000 crore trade tower project in Hyderabad entailing construction of the tallest building in the country.
The project, awarded by the Andhra Pradesh Government, will involve development of a 100-storey building that will also have a business centre. According to company officials here, the consortium received a Letter of Award (LoA) from the Andhra Pradesh Industrial Infrastructure Corporation for the project, which involves development of over 77 acres.
The scope of the work involves design, development, funding, construction, marketing, operation and maintenance of the project, for which a special purpose vehicle (SPV) will be formed by the consortium and APIIC. The project would be completed in three phases. The trade tower on over four million sq. ft. would be set up in the first phase. The second module would comprise developing the business district on 30 acres in seven years. The development of phase II of the business district on the remaining 16.28 acres would form part of the third module, the sources said.
Relinace energy trag 1689 sl 1521
Indo Rama Synthetics Ltd (IRSL), the country's largest dedicated polyester manufacturer, is well placed to capitalise on the upturn in the polyester sector due to its timely capacity expansions. Benign raw material scenario and reduction in power costs would further catalyse margins and profitability.
Current price : Rs 61 Target price : Rs 79
Potential upside : 25%
Time Frame : 30 DAYS
* When: from Wednesday, Oct 10
* Profits of top software services firms seen rising 11-23 percent, but a stronger rupee and a possible U.S. economic slowdown are concerns.
london, Oct 9 (Reuters) - Indian software services firms are set to report strong quarterly profits as more foreign companies look to outsourcing to cut costs, but the rupee's surge to 9-½ year highs, wage hikes and a possible U.S. slowdown are concerns for the export-driven sector.
Margin pressure is likely to persist for the companies such as bellwhether Infosys Technologies Ltd (INFY.BO: Quote, Profile, Research) and Wipro Ltd (WIPR.BO: Quote, Profile, Research), with the currency a particular concern, analysts said.
"The quarter's performance will be good because the demand is still strong, but there are lot of concerns surrounding the sector, mainly because of the rupee appreciation," said Harit Shah, a sector analyst with Mumbai-based Angel Broking.
"The U.S. slowdown is also a wild card. We don't know what's the scene there," he said. "Margins will be under pressure ... I don't think in the near term the stock performance of these companies will be great."
The fiscal second quarter earnings season starts on Wednesday with mid-sized outsourcing firm iGate Global Solutions Ltd (IGAT.BO: Quote, Profile, Research), followed on Thursday by Bangalore-based Infosys, India's second-largest software services exporter. Nasdaq-listed Infosys (INFY.O: Quote, Profile, Research) is expected to post an 18.5 percent jump in net profit for the quarter ended September to 11.0 billion rupees ($280 million), according to a Reuters poll.
Sector leader Tata Consultancy Services Ltd (TCS.BO: Quote, Profile, Research) is likely to post a 23.3 percent rise in quarterly earnings on Oct. 15, followed by No. 3 exporter Wipro, which is expected to report on Oct. 19 that profits rose 11 percent.
For poll details, please see [ID:nBOM57029]
Merrill Lynch said in a report that given an uncertain market environment it would be "unrealistic" to expect firms such as Infosys and Satyam Computer Services (SATY.BO: Quote, Profile, Research) to tweak up annual revenue guidance, in dollar terms, by more than 1 to 3 percent.
The rupee
rose more than 2 percent against the dollar in the quarter, and has risen more than 12 percent this year. Last week it hit a 9-1/2-year high of 39.36 per dollar.
Analysts estimate that every 1 percent rise in the rupee slices 30 to 50 basis points from the margins of software services firms, which get more than half of their revenue from the United States, although most companies had significantly increased their currency hedging positions in the last two quarters.
Last month, UBS said it forecast dollar/rupee at 39.0 and 38.0 in one month and three months respectively, from previous forecasts of 40.0 and 39.0 respectively.
DOG'S BUSINESS
India's large pool of English-speaking workers and cheaper wages have helped attract outsourcing by firms such as Cisco Systems (CSCO.O: Quote, Profile, Research), Nortel (NT.N: Quote, Profile, Research), and General Electric (GE.N: Quote, Profile, Research), but there are concerns the sector's earnings growth could slow
earnings growth could slow
n July, First Global Securities downgraded India's IT services sector to "underperform", citing the rupee's strength.
"The fact of the matter is that the weak and, therefore, favourable rupee gave the sector a terrific subsidy, spanning many years," it said. "It has been made to look good largely because of the currency subsidy.
"Stripped of that, the business looks like a dog business."
Earnings concerns saw software stocks lag in the September quarter, trailing a record-setting rally in the broader market.
Shares in Tata Consultancy fell 8 percent during the quarter and Infosys, which the market values at about $29 billion, shed 1.7 percent, while the main Mumbai market (.BSESN: Quote, Profile, Research) rose 18 percent. The sector index (.BSEIT: Quote, Profile, Research) declined nearly 5 percent.
"On balance, we see no more than a short-term bounce in IT stocks, followed by another period of uncertainty and volatility - that may extend into 2008," said CLSA Asia-Pacific Markets in a research report.
"This is driving our continued and long-standing underweight stance on the sector as a whole." ($1 = 39.4 rupees) london : Time 6.00 NOW RECENT ARTICAL ON INFY tcs and it compnies
"Chidiyon se mein baaj ladaoon , tabhi guru gobind singh nam kahlaoon"
" My sparrow is equal to million Hawks, thats my identy"
Nifty Meri and Peri works today is the b - day of guru ram dass ji hope all enjoyed with gure kipra sensex jumped 788 points now its time to see flying jet now it is Tatastell WE POSTED IT IT 799 TARG 1000 SL 799 TODAY 11:48AM
NIFY SL 5260 IS GOOD AND LAST SUPPORT OF NIFTY TARG 5546 LONG IT STOCKS FOR 12 OCT WE LOVE SINGLE ONE INFY
India's Tata Steel said on Monday it would raise 54.81 billion rupees ($1.39 billion) in a previously announced issue of convertible preference shares to partly finance its $13 billion acquisition of Corus.
Existing shareholders could buy nine convertible shares for every 10 held. Six convertible shares of 100 rupees each would be automatically converted into one equity share of 10 rupees on Sept. 1, 2009, it said in a statement to the stock exchange.
The company's shares were down 4.0 percent at 799.90 rupees at 0554 GMT in a Mumbai market down 1.3 percent.
In April, the company had said it would raise 43.5 billion rupees through convertible shares. In July, it raised the size to 60 billion rupees, which at the prevailing exchange rate amounted to $1.48 billion.
We are very much thanks to
Dr Atul kapoor and his investors who faith in us & popular your web have a nice day
Just as one has to tie pail's neck while taking out water,
Just as to get 'Mani', snake is to be killed;
Just as to get Kasturi from deer's neck, deer is to be killed;
Just as to get oil, oil seeds are to be crushed;
To get kernel, pomegranate is to be broken;
Similarly to correct senseless people, sword has to be taken up."
(Bhai Gurdas, Var-34, pauri 13)
Nifty is fallowing the sword of Meri and Peri the concept was satred by gure nanak dev ji and it was colored by Shri Harigobind Singh ji And gure gobind singh ji also there is no need to panic tomarrow is 9 oct and tomarrow have meeting with mrs sonia gandhi and left sitaram yachury may be they find solution NifTy has strong support at 4988 4965 if breake than time for correction
