AUTO, METAL AND PHARMA STOCKS HELP SENSEX TO GAIN 74 POINTS

Sensex gained 74 points, helped by auto, metal and pharma stocks. Hindalco, Maruti, Tata Motors and Cipla were the top gainers. Maruti touched 52 week high. The other auto stocks- Hero, Bajaj and M&M too closed in green. FIIs have net bought to the extent of Rs 248cr. State run companies - ONGC,GAIL and BHEL were the top losers among sensex stocks.

BIOCON POSTS IMPRESSIVE RESULTS

Biocon has posted a net profit of Rs. 88cr for the quarter ended September 30, 2012 as compared to Rs. 68cr for the quarter ended September 30, 2011. Total Income has increased from Rs. 410cr for the quarter ended September 30, 2011 to Rs. 518cr for the quarter ended September 30, 2012. The stock is up Rs 7 and trading around Rs 266.

MARKET WILL BOUNCE BACK TODAY

Unwinding of speculative positions led to sharp fall in indices yesterday. FIIs and DIIs have net sold only to the extent of Rs 123cr. Yesterday's fall was led by Bank NIFTY. Most private bank and auto stocks are expected to bounce back and close in green today. RIL too expected to gain substantially in today's trade. Overall market will recover most of yesterday's losses.

LIC HOUSING FINANCE RESULTS ON 31-10-12

LIC Housing Finance stock lost Rs 8 to close at Rs 242 today, ahead of its Q2 results on 31-10-12. The company had posted a net profit of Rs 228cr in the first quarter. For this quarter too the profit is likely to be in the same range.

RBI GOOGLY PULLS DOWN INDICES

Market had expected much from the regulator. Except 25BPS reduction in the CRR, the regulator's policy announcements had disappointed the markets. Rate sensitive stocks like bank, auto and infra had been hammered by operators. All NIFTY bank stocks ended the day in red. NIFTY lost 67 and Sensex 204 points. SBI lost Rs 100 to close at Rs 2068. Maruti, Dr Reddy's, IDFC, Infosys and HUL were the major gainers among NIFTY stocks. RIL  which gained Rs 14 yesterday, lost Rs 8 today and closed at Rs 803, with dwindled volume and with open interest in futures remaining unchanged, indicating a sharp bounce back in the next trading sessions.

SATYAM NET DOWN IN Q2

Satyam computers has posted moderate growth in revenue for the September quarter. However the net profit has come down compared to the previous quarter. As against revenue of Rs 1738crin the previous quarter the company posted a revenue of Rs 1781cr in the current quarter. Net profit is at Rs 252cr as against Rs 333cr in the first quarter. The stock closed flat at Rs 108.

MARUTI NUMBERS UNIMPRESSIVE, STOCK RALLIES

Maruti, compared to the first quarter of FY13 has posted unimpressive results for the second quarter. Both the revenue and net profits have come down. However the stock was up Rs 31 and closed at Rs 1395.              

                       SEPT     (RS IN CR)       JUNE

Revenue	8,305.43	10,778.15
Net Profit	227.45	423.77
EPS	7.87	14.67
Cash EPS	19.88	26.43
OPM %	8.01	8.34
NPM %	2.74	3.93

RBI CUTS CRR BY 25 BASIS POINTS

RBI has kept the other policies rate unchanged but cut the CRR by 25 bps. markets have reacted negatively and NIFTY is down 20 points as of now.

POLICY MEASURES WILL GUIDE THE MARKET

Auto stocks have rallied yesterday on the rate cut hopes. RBI in its monetary policy review today may go in for a small rate cut to bolster the sagging economy. Markets will surge if there is going to be half a percent rate cut. Otherwise Sandy hurricane may hit our markets too. Rate sensitive stocks like Bank , Infra and Auto may take a beating.

BAIDU INCOME SURGES

Baidu which has about 80% of the Chinese search market has  reported a 60% rise in quarterly net income to $478m,  compared to last year. After dispute with the Chinese government Google exited China in 2010.

SINGAPORE AIRLINES PICKS UP STAKE IN VIRGIN AUSTRALIA

Singapore Airlines has picked up 10% stake in Virgin Australia, valued at $108m. Singapore Airlines is the world's second largest carrier.

  

BIOCON RESULTS ON 30-10-12

Bangalore based biotech major Biocon will announce its Q2 results on 30-10-12.  In the previous quarter the company had reported a net profit of Rs 69cr. The stock closed at Rs 264, up Rs 6.

CABINET REVAMP SENTIMENT BOOSTER, POSITIVE FOR RIL

The biggest cabinet revamp by Dr Manmohan Singh with induction of new faces and change of some portfolios is definite sentiment booster for the market. The change at petroleum ministry is a big positive news for RIL stock. The stock is expected to gain  some momentum in next few trading sessions.

SMART PHONE LIFTS SAMSUNG PROFITS

Samsung Electronics has reported record profits of $5.9bn for the three months quarter ending in September. In percentage terms profits are up in excess of 90 percent compared to same period in the previous year.

AICTE BLACK LISTS ISB, BIFT AND IIPM

AICTE has black listed 43 institutions in Andhra Pradesh including the big names like Indian School of Business, Badruka Institute of Foreign Trade and Indian Institute of Planning and Management.

APPLE SHARES FALLS BELOW $600, RECOVERS BY CLOSE.

Apple's poor numbers for the latest quarter has sent the stock below $600 in the intra day trade. However it recovered by the close to end the day at $604 a share. In Sept 2012 when it launched its new versions of iPhone the stock had crossed $700 mark.

BJP BACKS GADKARI, CONGRESS

BJP has virtually conceded the defeat in 2014 LS elections by unanimously backing its president over dubious land and business deals. That is what Congress party wanted. As long as Gadkari is the president of the BJP, the fight against corruption by the party is almost dead. This decision of BJP is almost endorsing the corrupt policies of the Congress. BJP can not hope to come power in In 2014 LS elections, where the fight against corruption will be the main issue. Congress party will use Gadkari as trump card to its advantage.

U S ECONOMY GROWS TO OBAMA ADVANTAGE

The world's largest economy expanded at an annualized rate of 2% in the third quarter, according to the Commerce Department.

The jump was partly due to a large increase in government spending.

This may work in favour of Obama in the presidential election between him and his challenger Mitt Romney on 6 November.

HUL Q2 RESULTS : REVNUES UP, STOCK DOWN

FMCG major HUL has posted a net profit of Rs. 807cr for the quarter ended September 30, 2012 as compared to Rs. 689cr for the quarter ended September 30, 2011. Total Income has increased from Rs. 5691cr for the quarter ended September 30, 2011 to Rs. 6459cr for the quarter ended September 30, 2012.  The stock lost 2 odd percent and closed at Rs 552.

SKS MICRO RESULTS ON 29-1012

The only listed, Hyderabad based, problems ridden micro finance company - SKS will announce its Q2 result on 29-10-12. For the last 7 quarters the company has been reporting losses and the scenario is unlikely to change this quarter too.

BANK, FMCG AND INFRA STOCKS PULL DOWN INDICES

Sensex lost 133 and NIFTY 41 points for the day. NIFTY for the whole week lost 20 points.  Poor show by PNB made the other bank stocks also close in red. PNB lost almost 7% to close at Rs 750. Likewise other bank stocks too ended the day in the negative territory. It is the day of auto stocks. M&M, Bajaj,Hero and Maruti all gained on the hopes of better monthly numbers for these companies in the current quarter. FIIs net bought to the extent of Rs 199cr in cash market.

ICICI BANK'S Q2 PAT AT RS1956 CR

ICICI  Bank has posted a net profit of Rs 1956cr for the quarter ended September 30, 2012 as compared to Rs 1503cr for the quarter ended September 30, 2011. Total Income has increased from Rs 9897cr for the quarter ended September 30, 2011 to Rs 12069cr for the quarter ended September 30, 2012.

ICICI bank has beaten the analyst estimates. The stock is up Rs 9 and trading around Rs 1096 at 12.50 p.m. 

NMDC OFS MAY FETCH RS 7000CR

The Cabinet Committee on Economic Affairs has cleared a 10 per cent stake sale in NMDC through the offer for sale route. This disinvestment is likely to fetch about Rs.7,000 crore to the government.

At present government holds 90% stake in NMDC. The Rs 1 FV shares closed at Rs 184 yesterday. The company has a market cap of Rs 73000cr.

APPLE'S REVENUE, PROFITS UP

Apple for the year ended Sept 2012 has reported profit  of $41.7bn, up 45% on 2011, where as revenues stood at $156.5bn, a 61% increase.

For the current three months quarter the profits were at $8.2bn, up from $6.6bn last year and revenues were at $36bn, up 27%.

Apple sold 26.9 million iPhones in the quarter to 29 September, higher than forecast, and 14 million iPads.

ICICI BANK Q2 RESULTS ON 26-10-12

Private sector banking giant ICICI will announce its second quarter results on 26-10-12. In the first quarter ICICI reported a net profit of Rs 1815cr. The bank is expected to post PAT in excess of Rs 2000cr for the quarter. The stock closed at Rs 1089, up Rs 10 in today's trading.

SHORT COVERING KEEPS INDICES IN GREEN

NIFTY gained 14 points despite net selling to the extent of Rs 550cr by FIIs. Short covering in some of the stocks on the expiry day has kept the indices in green. M&M, IDFC, HDFC, GAIL and Hero Motocorp are the lead gainers among the nifty stocks. Ranbaxy, Dr Reddy.s, Relinfra, PNB and SBI were the top losers L&T touched 52 week high of Rs 1719, before closing at Rs 1715. HDFC bank too touched 52 week high of Rs 741.

IRB INFRA TANKS, HITS 52 WEEK LOW ON GADKARI CONNECTIONS

The shares of IRB Infra has hit 52 week low of Rs 119.50. The stock is now trading around Rs 121, down 14%. There are allegations that the of  the companies belonging to this group have been favoured by Gadkari when he was the PWD minister in Maharastra government. In turn the promoters of this group have invested in various shell companies of BJP president Nitin Gadkari.

HERO, BAJAJ AUTO BOUNCE BACK

After being subdued for some days two wheeler majors Hero nad Bajaj auto have bounced back in the morning trade. Both the stocks are up one odd percent. Hero is trading around Rs 1818 and Bajaj Auto around Rs 1790. These companies are expected to register 30% growth in top line in the month of October. The third and fourth quarter of FY13 are going to be good. First Choice IPO recommends to accumulate both the stocks at the current level for good appreciation in the medium term.

KFA OPENS IN GREEN

The stock of troubled airline KFA has opened in green. KFA shares in the last few days had hit the lower circuit due to labour problems and license cancellation. Labour problems appears to be sorted out. The airlines has to infuse fresh funds before its ban on operations are lifted by DGCA.

RAJAT GUPTA GOES RAJA RAJARATHNAM WAY

Raja Rajarthnam who has been sentenced for 11 years for insider trading now has the company of the ring leader in the conspiracy. Rajat Gupta, former Goldman Sachs board member who was found guilty of four criminal counts of insider trading has sentenced to two years in jail.

US District Court Judge has also ordered Gupta to pay a $5m fine.

TOXIC HOME LOANS STILL HAUNT BOA

Fannie Mae and Freddie Mac have sued Bank of America for selling toxic loans  in 2008.

The civil lawsuit has been brought by the US Attorney Preet Bharara, the top federal prosecutor in Manhattan, New York.

Fannie Mae and Freddie Mac are government agencies that support the US mortgage market.

GLOBAL ENERGY FIRMS : EXXON MOBIL RETAINS TOP POSITION, ONGC, CIL AND RIL AMONG TOP 50.

 
For the eighth year in succession, American energy major, Exxon Mobil maintained its number one position as the top energy firm in the world, according to Platts survey.

Royal Dutch Shell took the second spot, followed by Chevron Corp, BP Plc, OJSC Gazprom, Statoil, Total and ConocoPhillips. Chinese major PetroChina came in on the ninth spot with Roseneft Oil on the tenth spot.

While ONGC is ranked 22, Reliance Industries and Coal India are placed at 27 and 48 spot, respectively.

Other Indian firms that feature in the list are NTPC (62), Indian Oil Corporation (82), GAIL (109) Bharat Petroleum (178), Cairn (121), NHPC (195), Hindustan Petroleum (212), Power Grid (172) and Reliance Infrastructure (215).ONGC, Reliance Industries and Coal India are among the 12 Indian companies ranked in the top 250 global energy firms, according to the survey.

SEBI TIGHTENS IPO NORMS

SEBI has further tightened the IPO norms. Henceforth QIBs participation has been made mandatory and will not permit spill over from the retail category to QIB category.

Many IPOs in the past have sailed through despite zero participation by QIBs. If an IPO fails to generate a minimum of  65 per cent demand for QIBs and HNIs, either the issue will have to be withdrawn or will have to be underwritten by the merchant bankers. QIB category includes foreign institutional investors, mutual funds, banks and insurance companies.

Under earlier rules, spillover from one category to another was permitted to the extent of under-subscription in that category. At least half a dozen IPOs had seen no bids from QIBs last year and the issues managed to sail through just on the back of over subscription in the retail segment.

Further, Sebi has also redesigned the profitability criteria for companies wanting to tap the capital market. Corporates will need to have a minimum average pre-tax operating profit of Rs 15 crore in three of preceding five years.

GADKARI IN TROUBLE, VADRA SPARED

Center has two set of rules. It wants to probe the irregularities in the companies managed by BJP president Gadkari and not to probe Sonia's son-in-law Vadra. The Union ministry of corporate affairs, which regulates the affairs of registered companies, has ordered an inquiry in to the allegations against BJP President Nitin Gadkari and his business links with IRB Infra.

MARUTI ALTO 800 BOOKING CROSSES 20000 MARK

Maruti's new Alto 800 has received tremendous response. Its booking has touched 21,200 mark within a week of launch, Maruti Suzuki India is looking to cash in on the ongoing festive season sales.

YES BANK Q2, YES TO GROWTH

Yes Bank, despite slow down in economy has posted robust results for second quarter. Net profit rose by 30 per cent to Rs 306 crore. Bank's total income increased by 37 per cent to Rs 2,263.13 crore in  the same period.

FACEBOOK Q3 RESULT LOSES SOME FACE

Facebook  for the third quarter ending Sept 2012 has posted a loss of $59m  despite seeing revenues rise 32% during the third quarter. The top social net-worker's income rose to $1.26bn in the quarter.

Facebook's performance remains in the red, following a loss of $157m in the previous quarter.

HEROMOTO CORP Q2 NET DIP BY 27 PERCENT

Hero Motocorp's result for the second quarter ending Sept 2012 has disappointed the investors. Both total revenue and net profit has been decreased substantially in the quarter compared to the previous year.

The Company has posted a net profit of Rs. 441cr for the quarter ended September 30, 2012 as compared to Rs. 604cr for the quarter ended September 30, 2011. Total revenue has decreased from Rs. 5915cr for the quarter ended September 30, 2011 to Rs. 5287cr for the quarter ended September 30, 2012. The stock closed yesterday at Rs 1796, down two percent.

MARKET TO OPEN IN GREEN, CLOSE WITH MODERATE GAINS

Market may defy mixed global trend and open in green. Markets in Europe yesterday closed with moderate losses. Although at this point SGX NIFTY is marginally down, benchmark indices are expected to open in green. Among others Hero MotoCorp, Yes bank and some of India bulls group companies will announce their results today. Hero lost some shine yesterday ahead of its Q2 results. As expected the numbers will not be good, as indicated by monthly sales of motor cycles. Competition in the segment is heating up after the independent entry of Honda with both motor cycles and scooters. Hero Moto Corp is likely to announce some new initiatives, new market, progress on R&D and new launches. Scrip may go up in today's trade, in spite of poor numbers, if the Hero announces its concrete plans to take on the competitors.

JLR IN TOP GEAR IN CHINA

For Jaguar Land Rover (JLR), China has emerged as the largest market in the first half of this financial year, edging past Europe, UK and the US. In the first six months of 2012-13, retail sales in China were a couple of hundred units more than the second largest market, Europe. Numbers for JLR in China is 35617, Europe 35403 and U K 32598.

L&T BEATS ESTIMATES, SLOW DOWN..

L&T achieved 42% growth in Q2 of FY13, compared to previous year. Net profit stood at Rs 1137cr as against Rs 798cr in FY12. This has been achieved in spite of slow down in the economy. The results have beaten the estimates of the street.
 
The total revenue of L&T rose to Rs 13,524.62 crore for the quarter under review from Rs 11,564.25 crore for the quarter ended September 30, 2011.Order inflow stood at Rs 20,967 crore, registering a growth of 30 per cent year-on-year.

The maximum orders were from some of the segments like building and factories and infrastructure. The total order book stood healthy at Rs 1,58,528 crore as at September 30, 2012.

The stock closed at Rs 1670, up 2.27% in yesterday's trading.

TCS, L&T, RIL AND ICICI BANK STOCKS KEEP NIFTY IN GREEN

NIFTY which opened in red has recovered thanks to TCS, RIL, L&T and ICICI Bank, among others. TCS has gained Rs 40, L&T Rs 36, ICICI Rs13 and RIL Rs12 at 2.05 p.m. NIFTY is up 27 points and trading above 5700 level. Ambuja, BOB and Jindal Steel are the top losers as of now.

ULTRATECH REVNUE, PROFIT UP

UltraTech's profit for the second quarter of FY13 has almost doubled, compared to the same quarter in the previous year. In Q2, the company reported a net profit of Rs 550cr. Net sales rose by 20% to 4700cr from Rs 3908cr during the same period last year.

ICSA DEFAULTS, NBW HAUNTS M D

The NSE and BSE listed power sector I T solution provider ICSA has defaulted India Factoring and Financials. The company had availed factoring services for which its managing director Gopu Bala Reddy had issued cheques which were bounced. The lender dragged ICSA to court and the managing director was granted bail last week. The case will come up for hearing on 07-12-12. Recently ICSA had obtained CDR for Rs 900cr from its other lenders. The Rs 2 FV share closed at Rs 18.65 on Friday.

MARKET TO OPEN IN RED, CLOSE IN GREEN

Market may follow global cues and open in red. U S market on Friday closed weak. NASDAQ lost two percent, S&P500 and NYSE lost one odd percent.  Europe markets too moderately ended in red. Asian markets in the early trade are also in negative territory. Our market too expected to follow global cues and open weak. However indices likely to recover  and close in green by end.

ICICI BANK PULLS OUT OF DCH CDR

ICICI Bank by any standard is a very smart bank. They know CDR will not help DCH. Banks normally consider CDR when the loan has gone bad for external reasons and there are sufficient assets to back such CDR. In case of DCH, the loan has gone bad because of internal reasons - mismanagement and diversions of funds. And there are no sufficient assets to back CDR. In such cases it makes no sense to permit CDR, since there are no sufficient assets to generate enough cash flow to service Rs 5000cr debt.   ICICI bank has taken the right decision to pull out from the troubled Deccan Chronicle Holdings out of the corporate debt restructuring cell,closing a soft option for the southern media company that would have allowed an easier rescheduling of its loan repayment.

For all practical purposes, according our assessment, 80% of Rs 5000cr lent to DCH has been gone with wind. One does not understand why other lenders of DCH are pursuing CDR.

CARREFOUR EXITS COLOMBIA

After deciding to exit Singapore and Greece, Carrefour has decided to exit Colombian operations.

Shares of Carrefour have jumped almost 7% after the French retail giant announced the sale of its Colombian business to Chilean group Cencosud for $2.6bn.The sale is part of a strategy to pull out of non-core markets.

The world's second biggest retailer operates 72 hypermarkets and 20 other stores in the country.

DGCA FORCE LANDS KFA.

The Directorate-General of Civil Aviation has suspended the license of the crisis-ridden Kingfisher Airlines.

The permit has been suspended with effect from October 20 till such time Kingfisher Airlines submits a concrete and reliable revival plan ensuring safe, efficient and sustainable scheduled air transport services. 

According to our  estimate the airline may start operation after Nov 16th. One can accumulate the stock around Rs 8.

BAJAJ AUTO REVENUE DIPS

Bajaj Auto, which achieved a milestone in Sept as the number one manufacturer of motor cycles beating its rival Hero Motor Corp, has disappointed investors with its Sept quarter results. For the second quarter it reported 2.05 per cent growth in its standalone net profit at Rs 740.67 crore as compared with a net profit of Rs 725.80 crore in the comparable quarter last fiscal.

During the quarter under review, the company's revenue dropped by 4.11 per cent to Rs 4,972.40 crore from Rs 5,185.36 crore in the similar quarter a year ago.

The operating margin slipped to 19.7 per cent during the quarter, down from 20.1 per cent a year earlier on account of decline in the domestic sales of its motorcycles which fell by 12 per cent, a larger fall than the overall market.

The motorcycle industry, which witnessed a CAGR of 15 per cent over last four years, witnessed a decline of about 9 per cent in Q2 of FY13.

SAHARA FAILS TO COMPLY SC ORDER , SEBI CAN ACT

SAHARA group was ordered by SC to furnish the details of the money raised through OFCD to SEBI in its order on 31-08-12. Although 45 days have elapsed Sahara has not complied the directive. Now the Supreme Court on Friday has said SEBI can act against Sahara Group for non-compliance with its directions relating to refund of Rs 24,000 crore raised from investors through optionally fully convertible debentures.

FIPB CLEARS BROOKS BROS, PAVERS, DAMIANI PROPOSALS

FIPB has cleared cleared three FDI proposals worth Rs 106 crore in single-brand retail, including that of America's oldest clothing retailer Brooks Brothers and UK's footwear chain Pavers England and Italian jewellery brand Damiani to set up a 51:49 joint venture with an Indian company.

STARBUCKS STORE IN MUMBAI

Starbucks India, a joint venture with Tata Global Beverages, has opened its flagship Mumbai store. The location is - the historic Elphinstone Building in the Horniman Circle neighborhood of south Mumbai.

Starbucks has plans to open two additional stores in Mumbai next week in the Taj Mahal Palace hotel and in the Oberoi hotel. And the next destination is New Delhi.

METAL, INFRA, CEMENT AND BANK STOCKS DRAG NIFTY

NIFTY down 34 points for the day and up 8 points for the whole week. Today's fall, as expected led by metal, infra, cement and bank stocks. Jindal Steel, Tata Steel, Hindalco and Sesa Goa all closed in red. Similarly JP Associate, Relinfra, Ultratech, L&T  and IDFC closed in the negative territory. Bank stocks which were lime light yesterday on the hopes of rate cut by RBI, reacted today and SBI lost Rs 22 to close at Rs 2256. ITC which posted good numbers for Q2 gained Rs 5 to close at Rs 297, before touching the 52 week high of Rs 299. Among tech stocks Infy gained Rs 10 to close at Rs 2388. Both FIIs and DIIs have net bought in today's cash market.

WORST MAY STILL AHEAD FOR BANKS - PAUL TUCKER

Speaking at the British Bankers' Association's annual conference in London, Mr Tucker, deputy governor of Bank of England says "worst may still be ahead" for the banking system. The most important issue ahead was ensuring that banks could be allowed to fail in an orderly way.

Paul Tucker said reserves held by banks were still not calibrated for the "end-of-the-world risks" that remained a possibility.

Q2 RESULTS : GOOD SHOW BY ITC

ITC reported net profits of Rs 1840cr for the second quarter ending Sept. The figures for the corresponding quarter in the previous year was Rs 1602cr. The stock is up Rs 2 and trading around Rs 294, as of now.

INDICES TO LOSE SOME SHINE TODAY

Market yesterday was up largely due to short covering in the index based stocks. Both FIIs and DIIs were net sellers in cash market. Short covering in bank, infra auto and metal stocks led to the rally. RIL too helped the indices to stay at higher level. Being the last day of the week there could be some selling pressure.

STOCK WATCH : EROS INTERNATIONAL CMP RS 170 - BUY

Among others, Chakravyuha  is the next film to be released from the stable of Eros International. It is likely to be a block buster. In the short term the stock may touch Rs 200 level. The stock is available at the IPO price.

RELIANCE SLIPS BELOW RS 800

RIL after announcement of its second quarter has slipped below Rs 800 mark. It was quoting around Rs 825 prior to the announcement. As of now it is trading around Rs 798.

CHINA GDP GROWTH A DAMPENER

 
China's GDP grew at 7.4 percent in the July-September quarter according to National Bureau of Statistics. This is the slowest pace since the first quarter of 2009 as the global financial crisis raged.

ASIAN MARKETS MARGINALLY UP, NIFTY MAY OPEN UP WITH 25 POINTS GAP

Asian markets in the early trade are marginally up. Benchmark indices here too are expected to in open green. Bank, cement and I T stocks hold keys for upward movement of indices.FIIs have net purchased in yesterday's cash market and DIIs have aggressively sold.

ACC, AMBUJA CEMENTS RESULTS TODAY

Cements majors ACC and Ambuja cements will announce their results today. ACC closed at Rs 1426, down Rs 20 and Ambuja at Rs 204, down Rs5 in yesterday's trading.

MERRILL LYNCH ACQUISITION STILL HAUNTS BANK OF AMERICA

Bank of America paid huge amounts to settle legal claims for its take over of Merrill Lynch. The bank which was earlier reporting earnings in billions has just managed to report $340 million quarterly profit for the Sept quarter. The bank’s revenue dropped 28 percent, to $20.66 billion for the quarter, compared to the same quarter previous year. Bank of America is the U S's second largest bank in terms of assets under management after J P Morgan Chase.

eBay revenue, profits up

eBay for the third quarter has reported 15% increase in revenue at $ 3.4 billion. The online retailer and auction site's net profit for the three months to the end of September rose 14% from a year earlier, to $718m.

MALLYA SETTLES DISPUTE WITH GMR

Mallya has settled the dispute with GMR group which had filed a case against him in a cheque bounce case.

GMR Hyderabad International Airport has withdrawn the cheque bounce case filed against Vijay Mallya promoted Kingfisher Airlines  in a court in Hyderabad after the airline agreed to pay the outstanding amount due to it.

RIL BUYS BACK SHARES WORTH RS 2796cr

RIL has bought back 3,90,65047 equity shares worth Rs 2796cr as on 16-10-12.

SGX NIFTY INDICATES STRONG OPENING

Markets were down yesterday due to profit booking at some counters, particularly oil &gas, infra, banks and I T.  FIIs have net sold for the first time in recent times in cash markets. This led to benchmark indices lose some shine. Global markets, U S in particular closed very strongly. Asian markets too up in the early trade. SGX NIFTY is up 45 points as of now. Our markets too may follow global cues and open strongly. Some of the biggies in the indices like RIL, ITC INFOSYS and SBI are expected to bounce back today.

FORTHCOMING IPO : MADHYA BHARAT AGRO PRODUCTS LIMITED

ISSUE SIZE	81,00,000 EQUITY SHARES
PROMOTERS	SEASON AGRO  CHEM  INDIA , PANKAJ  OSTWAL,  PRAVEEN OSTWAL AND MS. EKTA JAIN
BRLM	CORPORATE STRATEGIC ALLIANZ
REGISTRAR	BIGSHARE SERVICES

MORE TROUBLE FOR BSY

CBI has filed a charge sheet against the former chief minister of Karnataka Sri B S Yeddyurappa in a land allocation case. BSY has already decided to quit BJP and launch his own regional party in the month of December.  With the CBI filing charge sheet more trouble awaits BSY. It is to be seen how many of his followers will join him in view of this latest development. BSY leaving BJP may be good riddance for both.

KARNATAKA BANK IS ON ICICI BANK RADAR

Mangalore based old private sector bank is on the radar of new generation private sector banking giant ICICI. There are no identifiable group which controls the Karnataka Bank. Latest share holding pattern of Karnataka Bank is - public 60%, Corporates 15%, DIIs 5% and the rest with FIIs. The bank has equity base of Rs 188.30cr. For the quarter ended June 2012 the bank reported a net profit of Rs 83cr giving an EPS of Rs 4.33, on its Rs 10 FV share. The share is up Rs 2 in today's trade and now trading around Rs 123.

YAHOO GOOGLES AGAIN FOR TOP POST

Yahoo constantly searches Google for top posts in its organization. Yahoo has now appointed Google executive Henrique de Castro as its next chief operating officer. This is the second big name it has hired from its rival in recent months. Earlier this year, it appointed former Google executive Marissa Mayer as its chief executive. Mr De Castro is likely to oversee global sales, operations, media and business development.

GLOBAL CUES WILL KEEP THE INDICES IN GREEN

Markets across globe were up in yesterday's trade including the troubled euro zone. Asian markets in the morning trade are marginally up. Other than NIIT, there are no Q2 big results announcement today, which will have bearing on the markets. Infosys which lost around 7 percent since announcement of Q2 results may recover today. Worst seems to be over for RIL. These counters along with FMCG and pharma may keep the indices in green.  Auto and bank stock may be under pressure. Inflation which still high may force the RBI to postpone rate cut initiatives is a dampener for bank stocks. The aggressive entry of unlisted entity -Honda into two wheeler markets,  is giving sleepless nights to the listed entities. It is eating into its erstwhile partner's market share.

IPO NEWS : IPsoft IPO IN 2014

IT infrastructure management company - IPsoft has plans hit the market by 2014.  The company expects to clock $1 billion revenue this financial year.

RIL's Q2 RESULTS DISAPPOINTS AGAIN

General decline of revenues from its oil and gas operations and particularly from KG-D6, the private sector behemoth's Q2  results has disappointed the investors again.  The net profit has dropped by 5.7% year-on-year  basis at Rs. 5,376 crore as against Rs. 5,703 crore in the corresponding period of the previous year. The company’s net sales for the July-September quarter, however, rose 15% to Rs. 90,335 crore against Rs. 78,569 crore in the corresponding period of the previous fiscal.

RIL’s refining margins also saw a fall in the second quarter. RIL said it earned $9.5 (Rs 504) on turning every barrel of crude oil into fuel in the quarter as compared to a gross refining margin of $10.1 a barrel in the year ago period.

LENDERS TIGHTEN THE NOOSE FOR DCHL

The publishers of  the English language Deccan Chronicle, The Asian Age and Financial Chronicle newspapers and Andhra Bhoomi, a Telugu daily, may have to off load significant portion of their stake to satisfy the lenders, before the lenders take a call on the Rs 5000cr exposure to the Deccan Chronicle Holdings. Consortium of banks led by Canara, which is conducting forensic audit of DCH is likely to insist on fresh infusion of liquidity before committing on restructuring of loans.

HDFC BANK FIIs HOLDINGS AT 69%

In spite of Citigroup and Carlyle off loading their stake in HDFC Bank, FIIs have increased their share holding in private sector banking major HDFC bank up to 69%, highest in the last 6 years. In the previous year, during the same period FIIs had holdings stood at 67 percent.

FIIs INCREASE STAKE IN INFOSYS

FIIs have taken a contrary stand on the tech major Infosys. The company has been disappointing the street in the last couple of quarters. That has not deterred the FIIs in increasing their stake in the bellwether stock. During the period July-Sept 2012, FIIs percentage of holdings in the company has gone up to 39.42%, as compared to 36.66 percent during the same period in 2011. The stock which lost 6% on Friday due to lackluster results and guidance is expected to consolidate the current level.

FIIs HAVE INVESTED RS 10000CR IN EQUITY IN OCT

Reforms initiatives of the government has put the FIIs in top gear. Notwithstanding slowdown in global economy and political uncertainty here, the faith of the FIIs in the Indian markets continues to be strong. In the month of October they have invested more than Rs 10,000cr in equity.

SALMAN KHURSHID PLEASE SHOW YOUR COMMITMENT BY DONATING YOUR PERSONAL MONEY TO THE EXTENT OF RS 50LACS.

Law minister Salman Khurshid and his wife has given series of interviews in the electronic media rejecting the charges  levelled against them of misappropriating funds meant for the physically challenged people. The basic allegation against him was that the camps for the physically challenged was not at all held and so the money taken from the government for this purpose was misappropriated or diverted.

Khurshid showed pictures of camps being held in different districts and also gave the names of the people who held the camps. If you want to people to believe you, trust you, you should exhibit commitment  by donating, your personal money Rs 50 lacs  to various physically challenged organization. Please do not claim reimbursement from the government for this. Do it now Mr. Khurshid.

RIL Q2 RESULTS ON 15-10-12

RIL will announce its Q2 results on 15-10-12.

INFOSYS SHOULD BOUNCE BACK

Markets always expects superlative performance from Infosys.  There fore, even for a small slippage in actuals, market punishes the stock disproportionately. The Q2 results are not bad and it is as per analysts estimates. However the markets have taken the results differently and the stock ended the day losing almost 6%. Compared to the previous quarter there is improvement in numbers from every angle. EPS and NPM for the quarter has improved, among others. We expect the stock to bounce back in the next two / three trading days with substantial gains. Comparison of key figures for the last 2 quarters are indicated below.

                                                     ( RS IN CRORES)

	Sep-12	Jun-12
Revenue	9,129.00	8,909.00
Net Profit	2,342.00	2,204.00
EPS	40.78	38.38
Cash EPS	44.95	42.13
OPM %	37.17	36.60
NPM %	25.65	24.74

TECH, BANK, AUTO AND METAL STOCKS PULL DOWN NIFTY

NIFTY is down 32 points for the day and 70 points for the week. After gaining consecutively for 5 weeks, NIFTY lost more than one percent this week. Today's fall is led by Infosys whose results was below market expectations. The stock had lost 8% in the early trade and closed at Rs 2390, still down 5.65%. Wipro too followed Infosys and lost 2%. Except HDFC, entire banking bunch in the NIFTY ended in the red zone. More than 25% of the NIFTY stocks cash segment turn over came from Infosys. FIIs are still in buying mood in cash market. Today they bought for Rs 201cr. Most Cement stocks closed in green.

NBW AGAINST MALLYA

The king of good times is in serious trouble. A Hyderabad court has issued a non bailable warrant against the owner of KFA. GMR group had filed a case against Mallya in a bounced cheque case.

U S COURT LIFTS BAN ON GALAXY TAB

Samsung Electronics got a breather yesterday from a district court. A temporary sales ban on Samsung Electronics' Galaxy Tab 10.1 tablet computer in the U S has been lifted. The ban earlier was imposed on an application filed by smart phone maker Apple.

AXIS BANK Q2 RESULTS ON 15-10-12

Axis Bank will be announcing its Q2 results on 15-10-12.

MARKET WEATHERS INFY GOOGLY

Bench mark indices were down in the morning as soon as the Infosys results were out. The results were below the market expectations. The stock had lost 8% in the early trade, now recovered a bit. NIFTY which was down 30 points has recovered and now well above 5700 level and in green territory. Infosys has recovered 4% from its low and now trading around Rs 2440. It had touched a intra day low of Rs 2311. Cements, infra and Bank stocks are keeping the indices from further fall.

INFOSYS CUTS EPS GUIDANCE, STOCK DOWN 8%.

Morning shocker from the bellwether I T company. Subdued growth, EPS guidance cut. The company's consolidated net profit stood at Rs. 23690 million for the quarter ended September 30, 2012 as compared to Rs. 19060 million for the quarter ended September 30, 2011. Total Income has increased from Rs. 84860 million for the quarter ended September 30, 2011 to Rs. 105640 million for the quarter ended September 30, 2012.

 

The Company, on stand alone basis, has posted a net profit after exceptional item of Rs. 23420 million for the quarter ended September 30, 2012 as compared to Rs. 18220 million for the quarter ended September 30, 2011. Total Income has increased from Rs. 78530 million for the quarter ended September 30, 2011 to Rs. 97570 million for the quarter ended September 30, 2012.

  
The company has cut the EPS guidance to Rs 160 a share for FY13. The stock is down 8% in the early trade.

FACEBOOK PROVIDED INFLATED FIGURES BEFORE IPO - DAILY MAIL

According to an report in Daily Mail, social networking site Facebook provided US Securities and Exchange Commission officials inaccurate and inflated estimates of the number of its users and ultimately its worth a week before the company''s botched Initial Public Offering, it has emerged.

Facebook did not had the accurate figures for the number of smartphone users who use its application and intentionally held back the real, significantly lower figures, until only a week before the 104 billion dollars IPO on May 18th.

The information has emerged after 12 letters dating from February 1 to May 17, were published on the SEC's website 20 days after the company's disastrous IPO. FB stock lost 3% yesterday to close at $19.59 a share.

CHEAPER HOME LOANS FROM ICICI BANK

Country's largest lender in the private sector- ICICI Bank, has slashed its lending rates for home loans by 0.25-1 per cent as part of a special festival offer. The lending rate for home loans of up to Rs 30 lakh is 10.25 per cent, down from 10.50 per cent.

MARKETS TO OPEN AND STAY IN GREEN

Markets across the world, barring Dow Jones and NASDAQ have rallied yesterday. Markets in Europe were particularly strong. Asian indices too in the early trade are in positive zone, led by Hang Seng Index which is up 170 points. Benchmark indices here will open and stay in green, unless the Q2 results and guidance of Infosys and HDFC Bank are well below the market expectations. Rate cut hope will keep the banking stocks active. Fall in U S unemployment is a positive indicator for all markets.

LENOVO IS NUMBER ONE PC MAKER

According to research firm Gartner Chinese PC maker Lenovo has replaced Hewlett-Packard as the world's top PC maker. Lenovo shipped 13.8 million units in the third quarter, compared with HP's 13.6 million.

MO YAN AWARDED NOBEL PRIZE

Mo Yan has been awarded the 2012 Nobel Prize for literature. He is the first Chinese resident to win the prize.  A prolific author, Mo has published dozens of short stories, with his first work published in 1981.

The Swedish Academy praised his work which "with hallucinatory realism merges folk tales, history and the contemporary".

HDFC BANK AND INFOSYS RESULTS TO GUIDE THE MARKETS TOMORROW

Two biggies are going to announce their Q2 / H1 results tomorrow. I T bellwether Infosys  and darling of the Indian banking sector HDFC bank. Infosys had disappointed the street in the previous quarters. Markets are expecting the reversal of the trend. In spite of growth concerns in the economy HDFC bank should report decent numbers. The results and guidance of the two entities will have bearing the indices movement tomorrow.

I T RAID ON GMR GROUP

Income Tax authorities carried out searches on the premises of GMR group in New Delhi  and a few other locations in the country suspecting tax evasion. This is after closure of the stock market. Market reaction will be known tomorrow. The stock closed at Rs 24, up 3 percent.

FURTHER REFORMS, EXPECTED IMPROVED GUIDENCE FROM INFY PUSHES INDICES UP

NIFTY gained 56 and Sensex 174 points. Bank, infra and I T stocks gained ahead of Infosys results tomorrow. BOB, PNB,SBI and Axis gained around 3% each. Other prominent gainers among NIFTY stocks are DLF, JP Associates, Tata Motors, Relinfra, BHEL and L&T. For most of the trading period indices were subdued. However momentum picked up on the talks of further reforms push and good numbers from bellwether I T stock tomorrow.  Apart from good Q2 numbers analysts and brokers are looking for improved guidance from Infosys management, tomorrow. The stock gained Rs 26 to close at Rs 2530. In the last one year the stock has moved just one percent. L&T touched new 52 week high of Rs 1659, before settling at Rs 1657, up Rs 40. FIIs have stepped up the buying in cash market. Today they bought to the extent of Rs1043cr.

KFA UP 5% WITH HUGE VOLUMES

KFA stock  was down and up 5% today. It was locked at the lower end till 3.00 p.m. With huge volume the stock locked at the upper end (Rs 11.95) by close of the day. Other things being equal today's volume indicates the stock will continue to move north wards for some more days. The airline due to labour problem had hit the ground for the last 8-10 days. The stock during this period lost more than 30 percent. Today it recovered 5 percent. More than 2.41cr shares exchanged hands in NSE.

PIL AGAINST VADRA

Activist Nutan Thakur has filed an PIL against Robert Vadra in Allahabad High Court. The Lucknow bench of the Allahabad High Court has asked the central government to respond to charges levelled against Robert Vadra, son-in-law of Congress president Sonia Gandhi, by India Against Corruption (IAC) member Arvind Kejriwal. 

NIFTY ABOVE 5700 LEVEL

As analyzed by us indices have defied the global cues and recovered from red zone. NIFTY at this point of time is up more than 50 points. The rally is led by Infosys,Tata Motors, Axis Bank among others. Beaten down stock DLF has recovered and is up about three percent.

PRANABDA INAUGURATES SUVARNA VIDHANA SOUDHA

President Pranab Mukherji has inaugurated the Suvarna Vidhana Soudha in Belgaum, Karnataka. The function was also graced by chief minister Jagadish Shettar, Governor Hansraj Bharadwaj and former chief ministers of Karnataka, among others.

MARKETS MAY DEFY GLOBAL CUES

Markets are expected to open and stay green today in spite of weak global cues. Stock markets in U S and Europe yesterday closed a tad lower on growth concerns in their respective territory. Asian indices are too in the red zone except Hang Seng Index. Benchmark indices Sensex and NIFTY are expected to open in green. Direct collection of taxes has witnessed 6% growth for the first half year of FY13 is a positive indicator. Bank stocks may under pressure due to down grade of some PSU banks by S&P. Auto, particularly two wheeler stocks will may bounce back due to brisk sales during festival season.  The beaten down reality sector stocks too expected to consolidate at current levels.

S&P DOWN GRADES 7 BANKS ON ASSET QUALITY

Rating agency S&P has down graded 7 PSU banks including SBI for poor asset quality performance and growing NPAs. The banks are SBI, UBI, IOB, INDIAN BANK, BANK OF INDIA,IDBI and SYNDICATE BANK.

METAL, BANK,INFRA AND I T STOCKS PULL DOWN INDICES

NIFTY was down 52 points to close at 5652. The down fall was led by Bank, metal, infra and I T stocks. DLF lost another Rs 12 to close at Rs 212. IDFC, Rel infra, Axis, SBI and BHEL lost 2% each.  RIL which lost 4% yesterday managed to stay in green. Tata Motors and M&M reacted after SIAM's forecast of moderate growth for cars in the year 2012.FII s have net bought for Rs 407cr in cash market.

L&T Q2 RESULTS ON 22-10-12

Larsen & Toubro will be announcing its Q2  and half yearly results on 22-10-12.

 

INDIA BULLS REAL ESTATE DOWN 6% ON POLITICAL LINKS

The share price of India Bulls Real Estate is down 6% in the early trade. Activist Kejriwal has named India Bulls as one of the group having politicians black money invested in the group.

IPO NEWS : INTERNATIONAL TRACTORS PLANS IPO.

International Tractors which manufactures farm equipments, SUVs, diesel generators sets and tractors is planning an IPO of Rs 800cr in two years time.

RINL IPO DEFERRED AGAIN

RINL IPO which was to open in the third week of October has been deferred again. Steel ministry and the merchant bankers to the IPO could not arrive at a consensus on the price band. The communist led union of the company has sternly opposed equity dilution.

WELLS FARGO UNDER ATTORNEY LENSE

U.S. Attorney Preet Bharara  has filed a law suit against Wells Fargo of massive fraud on government-backed mortgages it approved as far back as 2001. However the bank denied the allegations.

GROUND REALITY : KFA IS LIKELY TO BE GROUNDED FOR SOME TIME

The government has issued strict instructions to the KFA management that unless all issues are sorted out to the satisfaction of all the stake holders it will not be allowed to fly. Government has also advised the airline not to start booking of tickets.

RBI FINES ICICI AND ING VYSYA

RBI has imposed a penalty of Rs 30 lakh on ICICI Bank and Rs 55 lakh on ING Vysya Bank for violating certain norms related to Know Your Customer and anti-money laundering, among others.

HARYANA IS UNSAFE FOR WOMEN

Twelve rapes  reported in 28 days. No one knows how many unreported, given the social stigma attached to such incidents and reporting.  Experts opines this was waiting to happen given the state's skewed gender ratio and its socio-economic conditions. According to the 2011 census, it has 830 girls for 1,000 boys. Thanks to the continuous crisis, boys are not finding girls for marriage and this is creating an environment that is unsafe for women. In fact, two rapes a day have been almost a norm in the state from the start of 2012: between January and August, there have been 455 rapes.

CEMENT, PHARMA STOCKS HELP NIFTY TO STAY ABOVE 5700 LEVEL

NIFTY gained 28 points due to advances made by cement and pharma stocks. Ultratech gained Rs 53 to close at Rs 2058. The stock intra day touched 52 week high of Rs 2063. L&T, Sunpharma and Ranbaxy gained 2% each. Bajaj Auto was subdued due to reduction in export incentive. Export constitutes 35% of its total revenue. The company is likely to recover the difference by increasing prices. FIIs, notwithstanding some negative news prevalent  in the market continue to net buy in cash markets.  Today they net bought to the extent of Rs 614cr.

SEBI BARS POLARIS PROMOTER

Market regulator SEBI has barred Polaris promoter Arun Jain from securities market for a period of two years for alleged insider trading in the company's shares.  Insider trading happened in the year 2000 and it has taken 12 years for our regulators to pass an order and that too without any monetary penalty.  The stock closed toady at Rs 134, up Rs 2.  Polaris shares will under severe selling pressure for some time from tomorrow. 

KARNATAKA BANK AT 52 WEEK HIGH

Mangalore based old private sector bank's stock hit the 52 week high in today's trading. The stock is up 2% and trading around Rs 116. The bank has very ambitious plan of doubling its business in the ext three years. Karnataka Bank has one of the lowest NPAs among all banks in India.

BANK, INFRA AND AUTO STOCKS LEAD RALLY

NIFTY up 37 points in the early trade. Axis, ICICI, J P Associates, L&T, Tata Motors, Tata Steel and Maruti are up more than a percent. DLF lost another Rs 3 and trading at Rs 221. 

IMF CUTS INDIA'S GROWTH

IMF which had foretasted India growth at 8% for for 2012 a year ago now has revised the growth forecast to 4.9%. The reasons being,  red tape, weakening business sentiment, rising current account deficit and rupee depreciation.

MARKET TO OPNE AND CLOSE IN GREEN

Negative news flow on some stocks yesterday pulled the indices down. Heavy weight RIL which lost 4% is responsible for major slide yesterday. Markets today will open and close in green. Auto stocks will be limelight since excise duty has been reduced. RIL too may consolidate at Rs 820 level before its Q2 results announcements. Bank and I T stocks too will gain some of the ground lost yesterday.

CAUVERY WATER DISPUTE : SUPREME COURT TO HEAR KARNATAKA PLEA ON 12TH

The Supreme Court will review Karnataka's petition on Cauvery water sharing on October 12. Karnataka  has requested for review of earlier decision of Supreme Court and recent KRA directive.

RIL, SBI, DLF AND L&T DRAG INDICES

Markets as expected opened weak.Benchmark indices NIFTY and Sensex lost 70 and 229 points respectively. DLF was down 7 odd percent, is the biggest loser among the NIFTY stocks. Morgan Stanley down graded the RIL and the stock lost 4 plus percent to close at Rs 817. Likewise indices heavy weights SBI, L&T, Relinfra and Tata Motors lost 3% each. FIIs continue to be net buyers. Sentiments and selling by DIIs have pulled down the indices.

RIL DOWN ON MORGAN STANELY REPORT

Even before the Q2 results, Morgan Stanley thrown a bomb shell at RIL The investment house has down graded the stock to underweight citing that RIL may report weaker refining margins. RIL is down 2 and odd percent and trading at Rs 835.

KEJRIWAL EFFECT : DLF DOWN 4% IN EARLY TRADE

New Delhi based real estate major DLF's shares are down 4% (Rs231) in the early trade for wrong reasons. Activist Arvind Kejriwal has accused Robert Vadra, son-in-law of Sonia Gandhi, of getting undue favors from DLF. Although both DLF and Robert Vadra has denied any wrong doing, it will take some time for the markets to forget the allegations. Till such time the stock will continue to under perform.
DLF had a market cap of 1 lac crore 5 years ago. Now the market cap stands at Rs 39000cr.

SEBI ALLOWS SINGLE DMAT ACCOUNT FOR CROSS ASSET PRODUCTS

Sebi allowed investors to maintain their investment records across various assets - bank FDs, insurance products, post office deposits - in a single demat account.

This means that the  investors  will now  avoid the lengthy process of filling up know-your-customer registration forms each time they buy a financial product or service.

Sebi hopes to do this through a common KYC registration that contains information about personal details, address, permanent account number and photographs.

BIGG BOSS SEASON 6 : SIDDHU AMONG 14 NAMED

BJP member of Parliament and former cricketer Navjot Singh Siddhu is among the 14 named for the season 6 Bigg Boss reality show soap opera. The fifteenth is yet to be named. The list also includes cartoonist and activist Aseem Trivedi.

KINGFISHER CEO GETS KING SIZE SALARY INCREASE

The CEO of the troubled airline Sanjay Agarwal's salary has nearly doubled in  FY12,compared to FY11. Salary has been increased to Rs 4.01 crore, from Rs 2.12 crore.Agarwal says that he has also not been paid any salary since April as there were no funds. But the question is how the management has doubled his salary, when the airline is loosing almost Rs 10cr a day.

ASIAN MARKETS OPEN WEAK

Asian markets barring Nikkie and Jakarta Composite are down in the early trade. Markets here too are expected to open weak. Last Friday, apart from HDFC transaction FIIs have net sold in cash markets. All positive news are already factored or discounted by the markets. Indices have been on the high tide for past  five consecutive weeks. We expect the markets to lose some gains this week.DLF stock may be under pressure due to the reasons other than its performance or numbers.

WORLD CUP T 20 : AFTER GAYLE'S STORM, AUSSIES SURRENDER MEEKLY

Every thing went right for WI, right from the toss. WI scored 205 for 4 in the allotted 20 overs, one of the highest in 2012 T 20 world cup matches. Gayle stormed. 75 runs from 41 deliveries. There were useful contributions from Samuel, Bravo and Pollard. A team which scores more sixers than fours in a match is mostly likely to win. Target over 200 runs in T20 match is very tough one for any team. Much was expected from Watson and Warner in a big match like this. Aussies bats man collectively failed other than their captain who scored scintillating 63 runs from 29 deliveries. WI collectively bowled well to seal a place in the final. Rightly Gayle was declared man of the match. With this empathetic win WI have become the hot favorites to win the title.  However in the women's match Aussies beat the WI and entered the final and now will clash with England.

SAHARA DEVELOPS COLD FEET

Sahara group after the Supreme Court verdict on 31-08-12 which directed the group companies to refund Rs 24000cr collected through OFCD,  issued series of advertisements in  leading news papers and magazine that the OFCD money is safe with them and shall be returned as per SC directive. Now Sahara has developed cold feet and filed review petition in SC on 55 counts. If the group has money and intention  return the same to OFCD holders, then why review petition? It appears Sahara has no money.

NIFTY GAINS FOR THE FIFTH CONSECUTIVE WEEK

NIFTY lost 41 points today due to confusion created by Emkay Global's fake trades. However for the week NIFTY has gained 43 points, fifth in a row. HDFC lost Rs 40 to close at Rs 749. Tata Motors gained most among NIFTY stocks and closed at Rs 282. Most of the Bank, I T, Auto and cements stocks closed in red. Real estate and infra stocks are likely to take a beating on Monday, due to latest allegations made by IAC against Robert Vadra, son-in-law of Sonia Gandhi. The company involved is DLF.

IAC MAKES CORRUPTION CHARGES AGAINST ROBERT VADRA

India Against Corruption (IAC) team led by Kejriwal has alleged that Sonia Gandhi son-in-law Robert Vadra has received favors from New Delhi based real estate company DLF. Vadra's worth which was Rs 50 lacs in 2007 has grown to Rs 300cr in 2010, according documents released by IAC.  In turn, DLF has been favored by 3 Congress ruled states - New Delhi, Haryana and Rajasthan according to them.  DLF has also provided interest and collateral free loan to Vodra controlled companies.

NSE DISABLES EMKAY GLOBAL TERMINAL

National Stock Exchange  has disabled the trading terminal of Emkay Global  for placing bad orders worth Rs 650cr. All trade done by Emkay prior to placing the bad order has been cancelled. Due to the error the trading was halted for some time. Emkay had placed 59 erroneous orders for an institutional client. The investigation is on to find out how it happened.

NIFTY TANKS 60 POINTS

NIFTY has lost 60 points due to profit booking at higher level. Only 7 out of 50 NIFTY stocks are trading in green. Bank, metal, infra, cement and power stocks are down. ITC, HUL, Coal India,Bajaj Auto, Maruti, Tata Motors and M&M are the stocks that are in positive zone. The turn over too in NIFTY stocks is very high. HDFC and IDFC have lost 4% each.

IPO NEWS : SEBI CLEARS CARE OFFERINGS

SEBI has cleared the CARE's IPO papers. The offer for sale would comprise  72 lakh equity shares. Post IPO, CARE's core promoters Canara Bank, IDBI Bank and others will hold around 75%. This will be third rating company to be listed on the exchanges after CRISIL and ICRA.

FACEBOOK @ ONE BILLION

The world's biggest social network  now has over a billion active monthly users.
Facebook is firmly established in the western social media world, it still lags behind in Asia. Percentage of population using FB is highest in North America (44.97) where as in Asia it has lowest percentage (6.68).

MANIPAL HOSPITAL TO ADD 2400 BEDS

The Bangalore based hospital major - Manipal Hospital has raised Rs 940cr from an venture capital fund to meet its expansion plans.

The money would be used to add 2,400 beds by the end of fiscal 2015, putting the total bed-count to 4,000. The hospital would create new facilities in the states of Odhisa, M P and Maharastra. The Bangalore and Goa centers too will get additional beds.

KFA MESS CLAIMS FIRST VICTIM

The on going tussle between the KFA management and its staff has claimed its first victim. KFA has not paid salaries to its employees for the last six months. Depressed due to financial crunch, a 45-year-old wife of a ground staff employee in Kingfisher Airlines allegedly committed suicide by hanging herself at her Palam residence in south-west Delhi on Thursday.

The victim, Sushmita Chakravarti, lived with her husband Manas in DDA flats in Manglapuri. Manas, a retired Indian Air Force official, presently works as a technician with Kingfisher Airlines at Indira Gandhi International Airport.