Market Report

Sensex breaches 19,000-mark

Deepak Fertilisers to invest $350 mln in Australia

PVR in pact with Canada's Imax Corp for digital theatre systems

iGate open offer for Patni to begin 8th April

BHEL wins Rs5,450 crore order from Bajaj group company

USFDA okays Aurobindo Pharma's generic Alzheimer drug

Michael Susan Dell Foundation buys 5% in Waterlife India

Prism Informatics acquires GOD Barcode Marketing mbH

Micro Housing Finance Corporation raises Rs 19cr

AP Paper Mills surges 20% on BSE after buyout announcement

DB Realty shares jump more than 18%

PTC India Financial shares slump 16% on debut

Market Report

Sensex outshines global peers, gains 1300 points in 6 days

Textile sector gets additional Rs 7400cr for modernisation

NTT DoCoMo to buy into Tata Teleservices $670 mln rights issue - sources

Ashok Leyland rolls out new LCV, DOST

PTC India Financial to list shares on March 30

Ramco Systems plans Rs 40cr rights issue

Usher Agro increases rice milling capacity to 5,43,600 MTPA

Muthoot group forays into home loans for low income group

International Paper set to take control of Andhra Pradesh Paper Mills

Axis Bank to launch six more branches in Mumbai

 Dewan Housing Finance Limited (DHFL), partners acquire Deutsche Postbank Home Finance

Investment Call

BROKER KING>>BOOK PROFITS IN TATA MOTORS AT 1240

                          BOOK PROFITS IN ICICIBANK AT 1104

                          BOOK PROFITS IN SBI AT 2780

CALLS WERE GIVEN ON

Monday, January 17, 2011

Investment Call

ACCUMULATE TATA MOTORS AROUND 1160 LEVELS ICICI BANK AROUND 1010 AND SBI AROUND 2520 FOR SHORT-MEDIUM TERM GAINS.

NIFTY POSITIONAL CALL

SELL APRIL NIFTY FUTURES AROUND 5800.

Market Report

Reliance Infra announces Rs 1,000cr share buyback offer

Natco Pharma may sell USbased pharmacy store SaveMart

JPMorgan upgrades Bharti Airtel to overweight

Reliance Broadcast to launch Hindi entertainment TV channel

Reliance bids for six, Cairn for two blocks in NELPIX

KHIL merges Kamat Restaurants, Lotus Resorts with itself

Idea launches 3G services in MP, Chattisgarh and Haryana

Century Plyboards to demerge ferro alloys cement division

Dr Reddy's launches levocetirizine tablets in America

ONGC sells Sudan Nile Blend at strongest price in 2 years

Essar Oil to defer refinery shutdown: Source

Blue Star Infotech bags Microsoft ERP order from Christ Nishotech

GE Shipping takes delivery of new building Supramax Dry Bulk Carrier

Sita Shree Food acquires 100% stake in GG Real Estate

Reliance Power allots 43, 860 shares upon conversion of FCCB

India Glycols JV for Private Freight Terminal

Sumedha Fiscal Services to consider issue of convertible share warrants

3i Infra Fund invests $111.5m in KMC Infratech

Volkswagen Finance gets NBFC license from RBI

PowerGrid seeks Central Electricity Regulatory Commission  (CERC) nod to use tower infra for telecom

Sebi approves iGate’s Patni takeover deal

Market Report

Sensex rises 1,000 points in a week

India's forex reserves up $1.67bn to $303.51bn

Centrum Capital, Future Capital to exit JVs

Mayfield, Nexus Venture invest in Delhi agri firm

RIL to enter financial services biz, floats JV with DE Shaw

SBI sells 1.3 lakh shares of Lovable Lingerie

CREDIT SUISSE buys 10.35 lakh shares of Aegis Logistics

RELIGARE FINVEST sells 2.82 lakh shares of Alps Industries

AILISH TRADERS buys 4 lakh shares of Chandni Textile

ASIA INVESTMENT buys 11.73 lakh shares of Gabriel India

FIDELITY MULTITRADE buys 9 lakh shares of Guj Heavy Chem

GALLANTT METAL sells 3.65 lakh shares of JMD Telefilms

PARAMOUNT PHARMA buys 6.24 lakh shares of Piramal Life

JIGYASA PROPERTIES sells 5 lakh shares of Splash Media

BIRLA SUN LIFE buys 23.25 lakh shares of United Bank

Shilpi Cable Tech IPO subscribed 3.5 times

Cargill Inc snaps up Marico's edible oil brand Sweekar

SBI to raise $1bn through bonds; no hike in rates

IndiGo to foray into luxury auto space: Sources

Market Report

Sebi restricts transmitting 'unauthenticated news'

Balrampur Chini Mills buy back 3,441,536 equity shares

Aegis Logistics sells 6.3 pc to PE fund

Godrej Household’s licence to sell Kiwi terminated

M&M to invest over $67 million in new plant

Pipavav Shipyard gets FDI clearance to build warships

BHEL, ABB consortium wins contract from PowerGrid

Grasim to replace Suzlon in the Nifty tomorrow

Lovable Lingerie ends with 23% premium on debut

DoT cancels Etisalat DB license for Delhi Mumbai circles

Nomura to launch $500m infrastructure fund

HUL buys back shares worth Rs 625.30 crore till March 23

Subuthi Finance name changed to Indus Finance Corporation

GAIL signs annual MoU with Ministry of Petroleum & Natural Gas

Kotak Mahindra Bank launches interbank mobile payment service

JSW Steel launches new Pragati range of sheets in West Bengal

Eros scouts for JVs, deals to enter Bengali, Telugu films

JSW Steel raises offer price for Ispat

Comptroller and Auditor General(CAG)  raps OVL for Rs2300 cr loss due to improper evaluation

Telecom Disputes Settlement and Appellate Tribunal(TDSAT)  stays Rs50 cr penalty on Idea Cellular

Market Report

Oil prices climb above $105

Govt clears 14 FDI proposals worth Rs1,290 crore

FIIs registration drops in March as Sensex falls

Lovable Lingerie to list shares Today

SBI bond issue oversubscribed 8.4 times; next binge undecided

Bafna Pharma eyes domestic visibility via Raricap acquisition

Sugar export allowed: Sakthi Sugars expects Rs 10cr benefit in coming  quarter

Mahindra Mahindra to open new tractor plant in Andhra Pradesh

Jain Irrigation promoters infusing Rs 140Cr in firm

Meinhardt Group buys engineering services firm Eigen Technical Services Pvt. Ltd

India Infoline gets Sebi nod for mutual fund biz

Godrej to hike soap prices, form realty JVs

Aurobindo Pharma gets USFDA nod for Famciclovir tablets

Texmaco Rail, Japan consortium in talks for equal JV

Nestlé India inaugurates new manufacturing facility at Nanjangud

MUST READ -- Buffett should learn our ethos of giving: Indian Express Opinion

The rootless wonders are agog with ecstasy that Bill Gates and Warren Buffett are visiting India. They will not only explore about investing in India but also urge the Indian business to allocate at least half of their wealth to charity and this year is called year of ‘giving’.

It is important that both of them are educated about our system and ethos of giving which exist from ancient times and do not need lectures through business channels which live and even die for TRPs.

Buffett should know that the greatest hero of all times in India in our puranas is Karna who gave all and his name is interchangeably used for the art of giving in many Indian languages.

Ratan Tata may be shy to point out to Bill Gates that ‘the Tata founders bequeathed most of their individual wealth to many trusts they created for the greater good of India and its people’. So is the case with G D Birla and Jamnalal Bajaj. This may not be trumpeted by Kumara Mangalam Birla and Rahul Bajaj. As a perceptive blogger Sandeep Singh says that as early as 1895 Dayal Singh Majithia bequeathed away three million rupees for noble causes including new ventures by Indians. Actually Majithia was an early ‘venture capitalist’ in India even though not many know about him.

We also find that Swami Vivekananda could not have gone to USA but for local business people funding him and the weightlifters and wrestlers could not have won gold medals at the recent Commonwealth Games but for local traders financing their clubs in remote parts of Orissa and Manipur. Many may not have heard about Ekal Vidyalayas which are one-teacher schools functioning in remote parts of India, particularly in tribal areas. They are in as many as 35,000 villages, educating more than one million children. Take the other example of Satya Sai initiative to bring water to Rayalseema using private donations. The Ninth Plan document of Planning Commission says, “The Sathya Sai Charity has set an unparalleled initiative of implementing on their own without any budgetary support a massive water supply project with an expenditure of `3 billion to benefit 731 villages, etc.”

Later this project was extended to Chennai costing more than `600 crore. Ramakrishna Mission runs around 200 hospitals serving nearly one crore people annually mostly in rural areas. It also runs around 1,200 educational institutions serving more than 3.5 lakh students of which more than 1.25 lakh are in rural areas.

Nadars engaged in business in Tamil Nadu have funded hundreds of educational institutions and hospitals and so the Marwaris/Chettiars/Katchis/Bhoras all over India.

A lot of our education, healthcare, arts, literature and spirituality efforts/ventures have been fully financed by businessmen who are even shy to talk about it. Herein is the secret to the fundamental ethos of giving in India. It is done without advertisements and trumpets. Actually in our tradition the giver is reluctant to talk about it since it embarrasses the receiver. The fact that it could demean the receiver is reason enough for the giver to keep silent. Remember the way Nitish Kumar reacted when the donation from Gujarat for flood relief in Bihar was advertised? Nitish Kumar recalled our tradition of giving without revealing.

It is told in our ancient wisdom that one should give till the hand bleeds and one should not talk about it. The action will speak even centuries later. The upstarts of today write on every tubelight their names before donating it to a temple or call press conferences to declare their ‘intentions’. That is the US culture. Everything from lovemaking to charity should be advertised and shown on prime time television. Then only you prove that the spouses and receivers are happy.

But why this sudden wallowing in self pity and whining about giving? It all started with the Indira Gandhi Prize being given to Bill Gates on July 25, 2009, and wherein the chairman of National Advisory Council Sonia Gandhi read a speech on the need for Indian businessmen to give for charity (like Bill Gates) and it was published in full by Wall Street Journal and a columnist in that paper pontificated the “rich in India to open their wallets”. Leaders and media in India who are clueless about Indian ethos are setting the Gates and Buffett’s to further pontificate to our business people.

It is interesting that Bill Gates who has operations in Cayman islands and Reno of Nevada to minimise or evade taxes to be paid to the United States government is enthusiastic about “Giving by India Inc”. Warren Buffett is planning to give his dollar assets to the Gates foundation which will reduce estate taxes in the future. Interestingly both of them are some of the few US business barons supporting estate taxes. It is not clear who are their dinner guests in India. If it is Forbes billionaires from India we hope Shahid Balwa of the Spectrum fame is not going to be there!

Somebody should also tell Bill Gates and Warren Buffett that India Inc constitutes less than 15 per cent of our GDP and the real growth masters are small partnership and proprietorship firms which are deeply involved in giving. Actually India Inc in our economy is like an item number in a Bollywood movie. Good to talk about on TV but only has the glamour quotient. Also can we suggest to Gates and Buffett to stop investing in firms in tax havens since that sucks away billions of dollars of money from countries like India. If they really want to help India then they should start a campaign to close down all these tax havens rather than having expensive company-paid dinners at five star hotels of our country urging Balwas to give.

(The writer is professor, Indian Institute of Management-Bangalore.

The views are personal)

Market Report

Warren Buffett finds India to be a logical investment destination

Patel Engg sparkles; bags Rs 161 cr order from Karnataka govt

Sesa Goa announces the acquisition of assets of Bellary Steel Alloys

Indusind Bank to buy Deutsche Bank's India credit card biz: Report

Kinetic Motor to invest Rs 20 crore in group company

Century Plyboards plans Rs 1100cr expansion

Tata Power to build India's first floating solar plant

Elder Pharma to raise Rs 1.05b via bonds: Sources

Hyderabad Angels invests Rs 2cr in RFID maker Identis

JK Bank signs MoU with JCB India to provide infra machinery

Cairn Energy back in profit, raises hopes over India deal

Ranbaxy faces a new hurdle as US firm sues FDA on generic Lipitor

Ballarpur Industries to list unit on LSE

Market Report

IDCO signs agreement with IL&FS Water to set up desalination plants

Everest Industries to set up new facility in East India

Essar’s Hazira plant capacity expansion almost complete

BC India, Lathe to pick up 29% stake in HIPL for Rs3,650 crore

Mylan sues US FDA over Lipitor launch by Ranbaxy

Madhucon Projects bags order worth Rs 1500 crore for NHAI annuity project in  Jharkhand

Voltas forms JV with Germany's KION Group

Japan quake to delay Titagarh steel bridge JV

Gujarat Gas enters into agreement with BG India Energy for purchase of  regasified LNG

Sumeet Industries plans Rs 150cr expansion

Elara Capital toying with idea of setting up PE Fund

Ovira Logistics buys 7.7% in Pipavav Shipyard

Market Report

Harit Vanijya LLP sells 1.86 Lk shares of Garware Poly

Hindustan Composites sold its Jalna unit to Spitmaan Group of Companies

EIH enters into agreement with Pressman Advertising for right issue

IVRCL Infra bags Rs.564.62 crore construction orders

SEBI clears Vedanta open offer for Cairn: Sources

Vodafone top gainer in India number portability: COAI

Zinnia Tubes sells 6.14 Lk shares of JMD Telefilms

Seamec enters into contract with National Petroleum Construction

Bharati ShipyardApeejay shipbuilding JV on hold

Phoenix Mills to unveil 3 Market City malls by September

Tata Steel raises Rs 1,500 crore via perpetual bonds

RIL output at key block fields may fall 12%: Source

Union Bank of India enters into agreement with Lintas Media Group

IndSwift to consider allotment of equity shares upon conversion of Zero  Coupon Convertible Warrants

Hindustan DorrOliver bags order worth Rs 546.40 million from Nuclear Power  Corp

Market Report

IOC losing Rs 238 cr a day on fuel sales

High crude prices to put pressure on fiscal deficit: RBI

Reliance Industries, GAIL sign gas swap deal

Ramky Infra bags order worth Rs 288 crore

Group buying site Groffr acquires Mobstreet.in

Aurum Soft buys Accel IT business for Rs 5cr

Expect Lohia merger to raise profit by 50%: Pondy Oxides

Reliance Infra bags EPC contract worth Rs 7200 crore from Reliance Power

Jubilant FoodWorks to diversify into non-food business

Mahagenco to invest Rs50k cr to double gen capacity over 5yrs

ARSS bags order worth Rs 46.11 cr from NTPC

Venus Remedies spreads its wings in GCC

Bharti Airtel to buy Qualcomm's BWA business

Allcargo to enter third-party logistics business soon

SkodaAuto India reports 39.17% growth in February

HCC bags two orders from Hindalco Industries

Fortis promoters pledges 0.77 pc stake for estimated Rs 47 cr

HCL Tech ties up with 2 firms for smart grid expansion

Japan calamity to impact auto component supplies: M&M

Gitanjali Gems acquires 100% stake in N J Finstocks

HCL Infosystems bags Rs 300 cr deal from Indian Air Force

NALCO says pays Rs 4.76bn advance tax for 2010-11

Market Report

Educomp Solutions bags multimedia content development project from  Government of Gujarat and Assam

Wipro Consumer Care Lighting drags Bangalore co to court

Hero Honda promoters raise Rs200 cr by pledging shares

NBFC loans to match banks’ nonmortgage retail loans

Indian Hotels’ arm to sell minority stake to Omega for Rs150cr

RIL, Max Group subscribe to EIH rights issue

Toyota Kirloskar to up capacity by 40% this year

CPEC to consider preferential allotment of shares

Globus Constructors issue fresh equity shares on preferential basis

Tech Mahindra inaugurates cloud competency lab

Jyothy Laboratories buys 14.9% stake in Henkel India

IDFC extends infrastructure bond issue to March 21

ONGC will be at loss if CairnVedanta deal fails: Sources

Japan Nuclear update

by Philip Gibb on Tuesday, March 15, 2011 at 3:02pm

BCCJ Members Update on Japan’s Nuclear Power station situation

At 5pm Tokyo time (Tuesday 15th March 2011) a telephone briefing was given by Sir John Beddington the UK’s Chief Scientific adviser and Hilary Walker Deputy Director Emergency Preparedness at the Department of Health.

“Unequivocally, Tokyo will not be affected by the radiation fallout of explosions that have or may occur at the Fukushima nuclear power stations.”

The danger area is within the 30 kilometer evacuation zone and no one is recommended or will be allowed to enter this area other than those people directly involved with the emergency procedures currently being undertaken at both Fukushima 1 & 2.

Sir John went on to answer a series of questions including a comparison between Chernobyl and Japan. He said “they are entirely different, Chernobyl exploded and there was a subsequent fire with radioactive materials being launched 30,000 ft into the air.  The maximum height of any Fukushima explosions would be no more than 500 metres."

“The radiation that has been released is miniscule and would have to be orders of 1,000 or more for it to be a threat to humans” This was confirmed by Hilary Walker.

He went on to say that the Japanese authorities are doing their best to keep the reactors cooled and that this is a continuing operation. All workers on site dealing with the emergency are being fully decontaminated at the end of each shift.

When asked on how reliable was the information coming from the Japanese authorities as to radiation levels he said “this cannot be fabricated and the Japanese authorities are positing all the readings on the recognized international inforamton sites which they are obliged to do. Independent verification shows that the data provided is accurate”.

In answer to a specific question from the Head of the British School in Tokyo, Sir John Beddington and Hilary Walker said that there was no reason at all for the school to be closed unless there were other issues such as power outages and transport problems.

David Fitton, First Minister at the British Embassy in Tokyo moderated the teleconference and confirmed that a transcript of the briefing will be available on the Embassy website later today.

BCCJ members are encouraged to regularly check the Embassy website as well as the Chamber website and Facebook sites for the latest information.

Market Report

RBI policy review at noon on March 17

ONGC strikes gas reserves in Tripura

Educomp Solutions receives order worth Rs 67.93 crore from Maharashtra Govt

Sun TV announces hike in advertisement rates of Malayalam, Kannada channels

Marsons' European buy to add 67m pound to its kitty

Apar Industries bags orders worth Rs 250cr from PowerGrid

Nippon Ins to acquire 26% in Reliance Life for Rs3,062 cr

TPG, Shriram Group acquire business undertakings of Vishal Retail

SAIL begins process of developing 7MT Chiria mines

Reliance Broadcast, RTL to form JV for content

HEG approves proposal of buyback of equity shares

NHPC signs agreement with Mangdechhu Hydroelectric Project Authority of Bhutan

JSW’s open offer for Ispat to be launched on 17 March

Suryajyoti Spinning to up capacity by 25K spindles in FY12

Zuari Industries acquires 20 lakh shares of Zuari Holdings

Suzlon says founders sell 2.25 pc of shares

NALCO’s production capacity to go up to 2.1 MTPA by month-end

Patel Engineering loses deposit on NHAI bid; no ban

Videocon Ind promoters raise stake in firm to over 21 pc

Market Report

Exports cross $200bn in Feb, to touch $235 bn in 2010-11

Devas sent agreement termination notice : Govt

AOL to cut several hundred jobs in India: Sources

Motilal Oswal MF to launch first USequities based ETF

Pantaloon hikes branded apparel prices by 18%

Essar, Zimbabwe’s Zisco sign $750 mn steel deal

Ballarpur Industries acquires entire paid up capital of Premier Tissues  India

State Bank of India eyes buys, overseas expansion: source

Plan to expand capacity by 3 million tonne ahead: JSW Steel

Vivimed Labs to raise Rs 125 crores via QIP, FCCB

Acropetal Tech debuts with 8% premium after sterling start

Volvo launches its S60 sedan in three variants in India

Lovable Lingerie IPO subscribed 10.33 times

Powerica files $200 million public offer - sources

International Finance Corporation (IFC), Gujarat Energy body in pact for solar power project

Egypt turmoil hurt production by up to 70%: Marico

Zynga officially launches Studio, plans to double headcount

Volkswagen launches spl IPL edition of Vento for Rs7.24 lakh

Muthoot Finance to raise Rs1,400 cr through IPO

Tech Mahindra opens tech centre in Germany

ITC to export 3000 t of soyabean meal to China

Ministry of Agriculture ties up with NIIT to promote IT usage for Livestock  Management

Garware Offshore Services name changed to Global Offshore Services

Wipro wins 5-yr IT contract from Canara Bank

Indica relaunched by Tata Motors at a starting price of Rs 2.95 lakh

Godrej Properties buys small realty firm

Market Report

Opulent Venture picks 11.52% in Srei Infra Finance

Reliance KG basin gas output seen up by April, boosts shares

China's largest loan to India: RCom gets over Rs 8700cr

HCL Info gets project from Punjab & Sind Bank

Acropetal Technologies to list shares on Mar 10

Dr Reddy’s to issue Rs 520 cr bonus debentures

Power Exchange India to start trading in Renewable Energy Certificates(RECs) from March 30

Puravankara to invest Rs500-Rs1,000 crore in Kerala

Dodsal acquires 100% stake in Chennai’s AE&E IDEA

GR Infraprojects gets Rs 80 crore funding

Hanung Toys Textiles acquires controlling stake in US based company Cody Direct Corp.

Canara Bank raising up to $440mn in share sale

Market Report

BGR Energy environmental engg division bags order worth Rs 29.76 crore

Amrutanjan acquires Siva’s Soft Drinks for Rs26.20 crore

Govt to further liberalise FDI policy: Pranab

NMDC signs contract agreement with consortium comprising Siemens VAI,Austria, SVAI India, NCC

Himalya International starts its first unit of food processing plant in  Gujarat

Shriram Transport Finance plans launch of 60 auto malls

Ascend, India Telecom to merge tower business

Assam Company buys 70% in Colombian oil block

Lanco finalises Griffin acquisition for AUD 730 million

As debt piles up, Anil Ambani's Reliance Comm faces key test

Reliance MF sells 60k shares of Agre Developers

Prime Dyes sells 81k shares of Kailash Ficom

Indian ADRs: Wipro, DR Reddy Labs down 23%

Cognizant to embark on major expansion programme

Investment Call- LICHSGFIN

BROKER KING>>BOOK PROFITS IN LICHSGFIN AT 197.  CALL WAS GIVEN AT 190 ON FEB 21st.