Why should sell such a good stock,which is 2.5, smart profit making company, consistency in profit ,good cash reserves, producing innovative products range....

Capital inflow of significant level here will only occur if the investor is confident he can get his money out. Sadly, very sadly, very very very sadly, only hot money wants to enter India while all the patient money is going to China. The Goi seems oblivious to this obvious apparent and daily stark disparity of money going to China and the money coming to India. ...

-31- Once upon a time there was one storyteller. After getting tired of telling old fabricated stories, he left his house in search of a real life story. He reached a village and took a cottage for rent. After roaming in the village throughout the month, in search of true story, the storyteller couldn`t find one. Disappointed, he decided to stop his search. The next day, while sitting in the cottage, he suddenly heard a voice - a woman was yelling at someone. The voice was coming from the big wall behind his cottage. He tried to hear the conversation; it sounded like the woman was abusing her daughter-in-law. The storyteller didn`t like it but he was happy to finally get his story. Listening to the conversations each day he added them to his story. Though he couldn`t see the characters of his story, he started hating the Mother-in-law, as she seemed to be villain. Now it was time to finalize the end of the story. But before he did, the storyteller wanted to see the characters once, so he climbed the wall. There he saw the mother-in-law sitting in a wheelchair. It seemed she was handicapped and that the daughter-in-law was resting nearby. He saw the old lady trying to get a food item lying on the table near her chair. But because of her condition, she couldn`t reach it and the daughter-in-law looked like she was enjoying the old lady`s helplessness. Suddenly the old lady fell from the chair and started abusing her daughter in-law. The storyteller went back and quickly changed the ending of the story and was stunned at how different it was compared to what he originally thought it would be. Truly he had found both a real life story and a real life lesson. Moral: Never judge a situation unless you know all the aspects well. Sometimes you can`t imagine your distance from the reality. ...

Pranab warns of razor-edge-walk recovery, asset price-bubbles Colombo: Finance minister Pranab Mukherjee said the world economy is showing signs of recovery, but warned against formation of asset price-bubbles and volatility in the currency market. The world economy is showing signs of recovery ... the risks, however, remain and the recovery would be a razor-edge walk, especially because the signs of asset price-bubble and heightened carry-trade activity are re-emerging," he said. Mukherjee, who is on a two-day visit to Sri Lanka, made these remarks while delivering the fourth LK Memorial Lecture in honour of Sri Lankan leader Dr Lakshman Kadirgamar. Carry-trade usually refers to speculative trade activities in currencies and commodities. It is feared that speculative capital flows can have adverse implications on the forex and equity markets in the developing nations. The finance minister`s statement comes just a day after International Monetary Fund Managing Director Dominique Strauss-Kahn had warned that the surge in capital flows into the developing countries could destabilise local currencies and asset prices. "While capital inflows are generally beneficial, they can raise risks of rapid and potentially destabilising movements of currencies and asset prices...The resurgence of capital flows into emerging markets, including several in Asia, is presenting policy challenges," Strauss-Kahn had warned. Mukherjee said the global output is expected to expand by 3.1 per cent in 2010, wherein the developed countries as a group could grow at 1.3 per cent and the emerging and developing economies could grow by 5.1 per cent. ...

High capital flow may destabilise currency, asset prices: IMF NEW DELHI: International Monetary Fund (IMF) today warned that the surge in capital flows into developing countries could destabilize local currencies and asset prices. "While capital inflows are generally beneficial, they can raise risks of rapid and potentially destabilizing movements of currencies and asset prices...The resurgence of capital flows to emerging markets, including several in Asia, is presenting policy challenges," IMF Managing Director Dominique Strauss-Kahn said in a speech at a conference in Singapore. The resurgence reflects the favourable outlook for the region, but also a renewed appetite for higher-risk assets as financial conditions normalise, he said. However, he said the policy makers have a range of tools available to mitigate the effects of these inflows. "They include exchange rate appreciation, tighter fiscal policy, and, where appropriate, lower interest rates. In addition, macro-prudential instruments can limit the risk of asset price bubbles," he noted. Market-based controls on capital inflows can help reduce the volatility of such flows, he said, however, adding these measures are costly and tend to lose effectiveness over time. India is experiencing a surge in foreign capital inflow powered by initial recovery in the global economy. However, the finance ministry is not concerned at present and says no specific action is required to arrest it. ...

Dear, 12-11-2009 some more pressure is still left... Nifty : 4952 Good only above 4977 Intra day 4867-4874 Around support is visible once Nifty break 4901 --SK--...

Dear Manpsing – Yes, you raised a very valid question! In the stock market investors most of times fail due to the wrong timing means they are buying when they required to sell and vice-versa. The company MD itself stating that upcoming half year is not good then how these investors can bet at the current levels? The stock should re-rate now; it will not rise from the current levels for sure. The up side is capped around the 178/- levels but the down side is little wider hence risk versus return is favoring down side for short term. With thanks Be and make ...

Pranab warns of razor-edge-walk recovery, asset price-bubbles

Colombo: Finance minister Pranab Mukherjee said the world economy is showing signs of recovery, but warned against formation of asset price-bubbles and volatility in the currency market.

The world economy is showing signs of recovery ... the risks, however, remain and the recovery would be a razor-edge walk, especially because the signs of asset price-bubble and heightened carry-trade activity are re-emerging," he said.

Mukherjee, who is on a two-day visit to Sri Lanka, made these remarks while delivering the fourth LK Memorial Lecture in honour of Sri Lankan leader Dr Lakshman Kadirgamar.

Carry-trade usually refers to speculative trade activities in currencies and commodities. It is feared that speculative capital flows can have adverse implications on the forex and equity markets in the developing nations.

The finance minister`s statement comes just a day after International Monetary Fund Managing Director Dominique Strauss-Kahn had warned that the surge in capital flows into the developing countries could destabilise local currencies and asset prices.

"While capital inflows are generally beneficial, they can raise risks of rapid and potentially destabilising movements of currencies and asset prices...The resurgence of capital flows into emerging markets, including several in Asia, is presenting policy challenges," Strauss-Kahn had warned.

Mukherjee said the global output is expected to expand by 3.1 per cent in 2010, wherein the developed countries as a group could grow at 1.3 per cent and the emerging and developing economies could grow by 5.1 per cent.


...

High capital flow may destabilise currency, asset prices: IMF

NEW DELHI: International Monetary Fund (IMF) today warned that the surge in capital flows into developing countries could destabilize local currencies and asset prices.

"While capital inflows are generally beneficial, they can raise risks of rapid and potentially destabilizing movements of currencies and asset prices...The resurgence of capital flows to emerging markets, including several in Asia, is presenting policy challenges," IMF Managing Director Dominique Strauss-Kahn said in a speech at a conference in Singapore.

The resurgence reflects the favourable outlook for the region, but also a renewed appetite for higher-risk assets as financial conditions normalise, he said.

However, he said the policy makers have a range of tools available to mitigate the effects of these inflows.

"They include exchange rate appreciation, tighter fiscal policy, and, where appropriate, lower interest rates. In addition, macro-prudential instruments can limit the risk of asset price bubbles," he noted.

Market-based controls on capital inflows can help reduce the volatility of such flows, he said, however, adding these measures are costly and tend to lose effectiveness over time.

India is experiencing a surge in foreign capital inflow powered by initial recovery in the global economy. However, the finance ministry is not concerned at present and says no specific action is required to arrest it.

...

Mention Mahatma Gandhi and many think of fasting, restraint and the struggle for Indian independence.

He renounced material comforts, promoted Indian goods and embraced a simple, ascetic life.

These images jar with German pen maker Montblanc`s launch of a $25,000 pen to mark the 140th anniversary of his birth. Some see it as an insult to him.

One group has filed a lawsuit to try to stop its distribution. Montblanc says it is intended to honour Gandhi.

`A simple lifestyle`

The $25,000 (£16,000) gold and silver limited edition pen has an engraving of Mahatma Gandhi, the man seen as the father of Indian independence and revered as a global spiritual leader.


It is a mockery of the great man and an insult to the nation

Dijo Kappen

Critics have questioned if the Montblanc pen is the best way to honour Gandhi. The Center for Consumer Education in Kerala has filed a lawsuit to try to stop distribution of the pen.

"Mahatma Gandhi advocated a simple lifestyle," Dijo Kappen of the centre said.

"He was, of course, a nationalist and, in the nature of the independence movement, the only thing he promoted was Indian-made goods. It is a mockery of the great man and an insult to the nation... to use him as a poster boy."

A fitting tribute?

The limited edition pen is intended to honour Gandhi, the German premium pen maker said. "I certainly have to say, I wouldn`t have thought that people would have reacted negatively," Montblanc`s chief executive Lutz Bethge told the BBC.

"Yes, there were questions asked. Does it make sense to combine Montblanc and Mahatma Gandhi? But from what I noticed people were delighted that we were paying tribute to him."

Just 241 of the handmade pens will be sold, in reference to the number of miles Gandhi walked in his famous march against salt taxes in 1930.

Each comes with an eight-metre golden thread that can be wound around the pen, representing the spindle and cotton Gandhi used to weave simple cloth.

"What we want to do is talk about the values of Mahatma Gandhi as well. And this is certainly a person who believed in non-violence, peace, education and tolerance, and these are universal values," added Mr Bethge.

Gandhi`s great-grandson Tushar Gandhi has endorsed the idea. His charitable foundation has already received a donation of $145,000 from Montblanc and will receive between $200 and $1,000 for each pen sold.

"Part of the proceeds are donated to the Gandhi foundation. That is certainly something Gandhi would have approved of," said Mr Bethge.

For those who find the pen a little out of their price range, there is a more affordable version - there are 3,000 roller ball and fountain pens on sale for about $3,000 dollars each.
...

MUMBAI: The controversy over a brand of luxury pen that depicts Mahatma Gandhi as brand ambassador for its new range spiralled on Thursday. A division bench of the Kerala High Court issued notice to the Central government, Mont Blanc International and other respondents on a writ petition seeking a ban on the sale of the Mont Blanc gold pen that bears the image and signature of Mahatma Gandhi.

The petition has been filed by Dijo Kappen, who is managing trustee of the Centre for Consumer Education at Pala in Kottayam.

In the run-up to the Mahatma`s 140th birth anniversary, Mont Blanc International designed a luxury fountain pen to commemorate the Dandi March. Launched on September 29, the limited edition consists of 241 pens costing Rs 11.39 lakh each. Crafted in solid white gold, it bears a sketch of Gandhiji on the nib, apart from carrying his signature. Each piece is accompanied by saffron-coloured ink, a booklet of Bapu`s quotes and an eight-metre long golden thread that, when wound around the pen, resembles the spindle of the spinning wheel. Another version consists of 3,000 fountain pens and as many roller pens, each costing between Rs 1.47 lakh and Rs 1.67 lakh.

The product was manufactured and marketed with the consent of Tushar Gandhi, Gandhiji`s great-grandson. Mont Blanc has contributed Rs 72 lakh to Tushar`s charity, the Mahatma Gandhi Foundation.

Speaking to TOI from Holland on Friday, Tushar said he was prepared to defend himself in court if the need arose. "The product is a tribute rather than the exploitation of the Mahatma. My conscience is clear because I stand to make no personal profit from the deal. I do not know if I am a respondent in the case, or the locus standi of the petitioner. All I can say is that he is wasting the time of our courts which are already burdened by a high volume of pending cases.``

A spokesperson for Mont Blanc said, "I believe the courts will understand our position for we have taken copyright permission to use Gandhiji`s image and his signature on our product. All legal formalities were completed well before we launched the pen, and moreover, a substantial amount of money from each sale goes to charity.``

As part of the deal, Mont Blanc CEO Lutz Bethge donated Rs 72 lakh towards a children`s shelter being set up by the Mahatma Gandhi Foundation near Kolhapur. "The foundation has acquired a plot where it will rehabilitate rescued child labourers, and the donation will fund the infrastructure needed,`` said Tushar.

The spokesperson added, "We have also reserved Rs 50,000 from the sale of each of the 241 pens to provide education and nutrition to five children for five years. Rs 10,000 will be paid to the shelter from the sale of each of the other 6,000 pens.`` ...

MUMBAI: The controversy over a brand of luxury pen that depicts Mahatma Gandhi as brand ambassador for its new range spiralled on Thursday. A division bench of the Kerala High Court issued notice to the Central government, Mont Blanc International and other respondents on a writ petition seeking a ban on the sale of the Mont Blanc gold pen that bears the image and signature of Mahatma Gandhi.

The petition has been filed by Dijo Kappen, who is managing trustee of the Centre for Consumer Education at Pala in Kottayam.

In the run-up to the Mahatma`s 140th birth anniversary, Mont Blanc international designed a luxury fountain pen to commemorate the Dandi March. Launched on September 29, the limited edition consists of 241 pens costing Rs 11.39 lakh each. Crafted in solid white gold, it bears a sketch of Gandhiji on the nib, apart from carrying his signature. Each piece is accompanied by saffron-coloured ink, a booklet of Bapu`s quotes and an eight-metre long golden thread that, when wound around the pen, resembles the spindle of the spinning wheel. Another version consists of 3,000 fountain pens and as many roller pens, each costing between Rs 1.47 lakh and Rs 1.67 lakh.

The product was manufactured and marketed with the consent of Tushar Gandhi, Gandhiji`s great-grandson. Mont Blanc has contributed Rs 72 lakh to Tushar`s charity, the Mahatma Gandhi Foundation.

Speaking to TOI from Holland on Friday, Tushar said he was prepared to defend himself in court if the need arose. ...

A pen for Rs 11 lakh as tribute to Mahatma

MUMBAI: Mont Blanc on Tuesday launched a set of premium pens costing Rs 11.3 lakh under its limited-edition series commemorating 241 miles travelled
by Mahatma Gandhi during the Salt March.

Each pen in the series is made of white gold and the entire series is called the `Mahatma Gandhi Limited Edition-241`. "The distance of 241 miles which Mahatma Gandhi and his followers travelled by foot during the famous Salt March has inspired the name and limited edition quantity of this outstanding 750 solid white gold piston fountain pen," Mont Blanc CEO Lutz Bethge told reporters.

"Only 241 pens have been produced in the Mahatma Gandhi Limited Edition-241 series by Mont Blanc and each pen in the series is around at Rs 11.39 lakh," he said.

Mont Blanc has launched another series — Mahatma Gandhi Limited Edition 3000 — whose pens are priced at Rs 1.67 lakh a piece.

"A total of 3,000 fountain pens and 3,000 roller-ball pens have been produced in this series and the pens will be available our all outlets pan-India," Bethge said. Mahatma Gandhi Limited Edition 3000 series has been produced in tribute to the many people who had followed Mahatma Gandhi, he said. ...

Chennai`s auto drivers feed 500 people

The next seven days from Sunday will be celebrated as the "joy of giving week" across the country. Anyone - children, families, schools and corporates - could do something for a cause. In Chennai, a group of auto-rickshaw drivers provided a sumptuous meal to around 500 people as their contribution.

The auto-rickshaw drivers lead a hand to mouth lives. But that has not stopped them from being generous in their giving.

On day one of the joy of giving week, 30 drivers contributed Rs 1000 each to give a sumptuous free meal to over 500 strangers.

"Being an auto driver is like a social service to take people to hospitals and other places in their emergencies. And when we feed people we get an overwhelming peace in our mind," said Mohan, an auto-rickshaw driver.

Many were pleasantly surprised and touched by the gesture of this community that`s often accused of fleecing passengers.

"Even if you give lots of money to someone none will be happy. But if you provide food when one is hungry both the giver and the recipient are happy," said a Chennai resident.

It`s a lesson from few simple men - the joy of giving is all about how big your heart is and not how deep is your pocket.


...

Chennai`s auto drivers feed 500 people

The next seven days from Sunday will be celebrated as the "joy of giving week" across the country. Anyone - children, families, schools and corporates - could do something for a cause. In Chennai, a group of auto-rickshaw drivers provided a sumptuous meal to around 500 people as their contribution.

The auto-rickshaw drivers lead a hand to mouth lives. But that has not stopped them from being generous in their giving.

On day one of the joy of giving week, 30 drivers contributed Rs 1000 each to give a sumptuous free meal to over 500 strangers.

"Being an auto driver is like a social service to take people to hospitals and other places in their emergencies. And when we feed people we get an overwhelming peace in our mind," said Mohan, an auto-rickshaw driver.

Many were pleasantly surprised and touched by the gesture of this community that`s often accused of fleecing passengers.

"Even if you give lots of money to someone none will be happy. But if you provide food when one is hungry both the giver and the recipient are happy," said a Chennai resident.

It`s a lesson from few simple men - the joy of giving is all about how big your heart is and not how deep is your pocket.


...

`Satyam scam has scared small investors off stock markets`

Hyderabad, Aug 23 (IANS) India has a huge potential to involve retail investors in the stock markets but they are not coming out to invest because they have learnt a lesson from the Satyam Computer fraud, feels Madhav Mehra, president of the London-based World Council for Corporate Governance.

`The stock market participation of Indians is barely two percent while in the US it is 45 percent,` Mehra told IANS during a visit here.

`Indians have no problem with money. They are just holding it somewhere. They are not coming because they have learnt from Satyam,` he added.

Describing the Satyam episode as an eye-opener, Mehra said that after Jan 7, when Satyam`s founder and disgraced chairman B. Ramalinga Raju confessed to a Rs.78-billion (.43 billion) accounting fraud, it was the small investor who had lost the most.

Mehra said Indian companies needed to set high standards in corporate governance.

`India can`t take a backseat in corporate governance because the future belongs to India. Indian companies are not going for full disclosures. There is some requirement of the transactions of mergers, restructuring and acquisitions. People must know what a company is doing,` he said.

`There are several lessons to be learnt from Satyam. It opened our eyes. It showed how a great company can also be brought down if somebody decides he does not want to be ethical for some reason. India has been able to control all that. India has put the culprit behind bars. The company is now making money.`

Referring to the role of independent directors in the light of the Satyam scam, Mehra said there was no need for them. `We need directors with independent minds. We need independent boards. The independent directors are not bothered about anything as long as they get salaries. That is why it (Satyam fraud) happened.`

Elaborating, he said: `There are people who are directors of 15 companies. How can you be an independent director of 15 companies? People have not been able to understand the role of corporate governance.`

Mehra also called for appointing younger people as directors and ensuring diversity in the board rooms. `You look at the drivers of the companies all over the world. Who are the drivers? The young men, women and people from different backgrounds. We want diversity in board rooms.`

According to him, compared to the western world, India was still doing well. `In the US and UK, corporate greed is masquerading as corporate governance. What has been found during last two years is that the whole financial services market was interested in creating money for its own people.`

...

Yoga guruguruguruguruguru Ramdev slams Varun for HATE speech

NEW DELHI: Lashing out at Varun Gandhi for his alleged hate-speeches, Yoga guru Ramdev on Tuesday said people who try to polarise society by raising irrelevant issues have no place in democracy.

"Some political parties and people try to divert the minds of common people from issues of national importance by raking up issues of caste or religion," Ramdev said.

"Such people and outfits that make issues out of caste, religion, region and language have no place in a democratic society," he said, when asked about his opinion on Varun Gandhi`s alleged hate speeches in Pilibhit.

Varun was arrested on March 28 for his alleged anti-Muslim speeches during his campaign in Pilibhit earlier this month.

The UP government booked Varun under the tough National Security Act (NSA) for his inflammatory speeches.

Ramdev was speaking to reporters after announcing the "political agenda" for his `Bharat Swabhiman Trust`.

PTI...

Advani promises to bring back money from Swiss banks

Asks PM to raise issue at G-20 summit

Adding to his list of pre-poll promises, L K Advani, prime-ministerial candidate of the Opposition Bharatiya Janata Party (BJP), today said he would bring the Indian money deposited secretly in Swiss banks and other tax havens across the world back, in case his party got a chance to rule the country after the next Lok Sabha elections.

Advani, who announced this as the BJP stepped up its campaign for the coming elections, also asked Prime Minister Manmohan Singh to discuss the issue at the G-20 summit, which he is going to attend in London on April 2.

“If the people of India elect a BJP-led NDA government in May 2009, we assure the nation that India will join the global effort to put an end to banking secrecy and intensify it by every means — diplomatic, political and economic — to get back the real sovereign wealth of our country,” Advani said in a statement.

He said the return of Indian money deposited secretly with banks abroad — which was estimated to be about $1,400 billion (Rs 70,00,000 crore) — would be a key issue in the BJP’s campaign. The party plans to conduct mass opinion polls on the issue on April 6, the foundation day of the party. Also, he said, the chief ministers of all the BJP-ruled states would write to the prime minister on this.

The BJP’s idea is to link the plank of “Indian money in foreign banks” with its agenda for development during the campaigning. The BJP leader said the “estimated Indian wealth in foreign banks is enough to relieve the debts of all farmers and the landless; is sufficient to lay highways and roads across the country; provide Rs 4 crore to each of the 600,000 Indian villages, etc.”

To emphasise the BJP’s seriousness on the issue, Advani even announced his proposal to set up a national task force which would be entrusted with the task of outlining an action plan for seeking return of the Indian money from abroad. The proposed task-force would comprise R Vaidyanathan of IIM-Bangalore, S Gurumurthy of the Sangh Parivar, lawyer Mahesh Jethmalani and former Intelligence Bureau chief Ajit Doval.

“The BJP sees in secret banking the RDX that has the potential not only to blow up national financial systems but also to support and fund global terror networks whose attacks on India increased during the UPA regime,” Advani said.

The BJP leader accused the Manmohan Singh government of not pursuing the German government’s offer to all countries to avail of the information it had got from the Swiss government on some 1,400 secret accounts. He asked the PM to follow the line taken by the United States and other Western nations, which are facing economic recession, to seek details of secret accounts of Indians from these banks.

BS Reporter ...

New Delhi: The BJP has a parody ready for the Congress’s chosen poll jingle — Jai ho.

The Opposition party will sing Bhay ho.

The BJP on Saturday presented the one-minute parody to be used as a TV commercial to counter the Congress theme song based on A.R. Rahman’s Oscar-winning number from Slumdog Millionaire.

The BJP claimed the parody was penned by a sympathiser. The video of Bhay Ho starts with a man putting a bag on the upper berth of a train which provokes poor children sitting on the opposite berth to shout: “Bhay ho.”

The song runs as follows:

Bhay ho, bhay ho, bhay ho. Phir bhi Jai ho! Aaja aaja voter is jhanse ke taley Aaja aaja jhuthe muthe vade ke taley Bhay ho, bhukh ho Ratti ratti sachchi hamne jaan gavai hai Bhukhe pet jaag jaag raat bitayi hai Mandi ki mar me naukri gavan di Gin gin vaade hamne zindagi bitadi Mandi ho. Atank ho. Mahengai ho Bhay ho. Phir bhi Jai ho.

...