Ah, the itch to salting away the money abroad continues. After all India is saturated with industries. We need to make jaguars and petrol for Americans in Akmerica!. Sheesh....

Egypt v Algeria: why World Cup play-off is football`s most explosive match Algeria v Egypt: Now that`s what you call a grudge match! Why the African World Cup play-off match will be the must-watch event this week (from as far away as you can get...) Egypt may have won the battle but they haven’t won the war. Algeria midfielder Khaled Lemmouchia was not referring to military conflict when he spoke on Monday, but to a monumental World Cup play-off against Egypt in neutral Sudan on Wednesday. Rarely has such rhetoric been more appropriate for a football match. It is exactly 20 years since one of the most infamous chapters in the history of African football. Having lost out to Egypt for a place at the 1990 World Cup in Cairo on November 17, 1989, Algerian players and officials mobbed the referee and then began hurling plant pots into the crowd. Later, at a post-match reception, the Egyptian team doctor had his eye gouged out by an Algerian player wielding a broken bottle. Star striker Lakhdar Balloumi was convicted and sentenced to prison in his absence, although some say the culprit was actually a reserve goalkeeper. In April, Interpol agreed to drop Balloumi’s arrest warrant as attempts were made at the highest level to restore good relations ahead of two World Cup qualifiers between the teams in Group C, but events have only conspired to stoke up the rivalry even further. So, what happened? The game went in to stoppage time with Egypt 1-0 up before, in the 95th minute, Emad Moteab scored a header to make it 2-0. Emad Moteab’s goal deep into injury-time in Saturday’s 2-0 win over Algeria in Cairo left Egypt with an identical record to their old rivals, forcing a knock-out tie between the two. ‘People are saying it’s the biggest match in Egypt’s history but others think the rivalry has gone way out of proportion. It shouldn’t be a case of do or die, or life and death. But, with football, we tend to forget about good relations and it descends into a war zone.’ And, in Sudan on Wednesday, only one of these bitter rivals will be left standing. ...

GUJARATHI-Very happy to note that Reliance fetches higher premium for naphtha due to robust demand from Taiwan and South Korea!! ...

GUJARATHI-There is a possibility that Reliance Industries May Sell Stake in Some Overseas Blocks!!But if Oil prices go up then they might not Sell Stake in those Overseas Blocks!! ...

I REALLY dont CARE u go out,,,,or PSS55 Go-OUT,,,or anybody else,,,, am telling u one thing which i experienced on here only,,,, ITS NO use to take things PERSONEL on this board,,,,, Com-ON man,, be a MAN,,, DOnt be an emotional FOOL,,, Dont be a THUMBSUCKER,,,,, All i ask is,,,,,,DOES IT REALLY MEAN SOMETHING TO U ,WHAT OTHERS THINK OF U??? R U NOT SURE OF URSELF????? DONT U BELIEVE IN URSELF?? WOW,,,,HE SHOULD QUIT THE BOARD WHO INSULTED YOU,,,NOT YOU! if YOU QUIT,,,then U R A LOOSER,,,,NOT HE, "HE DEFEATED YOU WITH HIS WORDS ONLY,, HE IS SO POWERFUL............" ALL i SAY U THIS BECAUSE,,,U r a MAN! "LOOK SEE THINGS AS THEY ARE,NOT AS WE ARE" "LIVE LIKE A KING,DIE LIKE A SOLDIER"...

thanks for the information....

GUJARATHI-Yes yes Thanks!!KHAMBHAT is about, 130 Km. away from Ahmedabad.That means Cambay basin should be very close to Khambhat!!...

Reliance plans to double Jamnagar capacity, eyes overseas acquisition
=======================================================================

Reliance Industries Ltd (RIL)is eyeing overseas acquisitions, aggressive exploration campaign and investments in petrochemicals to drive growth. The company aims to scale heights in its core business of conventional energy - petrochemicals, refining and oil and gas exploration, while it invests in new ventures like retailing and alternative energy.

RIL plans to augment its petrochemical facilities at Jamnagar by adding 2 mln tpa of olefins and matching downstream capacities, almost doubling capacity from current levels. The recent economic slump has offered company the chances to optimise capital costs, schedules as well as implementation method for these projects.

RIL is said to be looking at acquiring petrochemical and oil refining assets in the US and may also be looking at venturing into shale gas busines.

GUJARATHI...

Reliance fetches higher premium for naphtha parcel for December lifting


Robust demand from Taiwan and South Korea has impacted the Asian naphtha markets despite a steady flow of supplies from India.

India`s Reliance Industries has fetched a premium higher by 5-6 dollars over November premiums on a naphtha parcel for December lifting. Reliance has sold the 75,000 ton cargo for Dec. 1-5 lifting from Sikka by tender to Western trader Cargill at a premium of around US$20/ton to Middle East spot quotes, on a free-on-board (FOB) basis.

Very little market activity was witnessed last week as key market players were busy at a major oil conference. This week, almost 272,500 tons of naphtha for H2-ZDecember arrival has been booked by South Korea`s YNCC and KPIC, and Taiwan`s Formosa. LG Chem and Samsung Total are also scouting for offers and expected to conclude deals shortly. Robust buying interest has propelled naphtha cracks to a near two-month high of US$109/ton premium.

GUJARATHI


...

Reliance Industries May Sell Stake in Some Overseas Blocks
========================================================

Reliance Industries Ltd., India`s biggest company by market value, is looking at selling stakes in some overseas exploratory oil and gas blocks, its executive director said Wednesday.

"This is part of our strategy and we have done (that) in the past in Oman," P.M.S. Prasad told reporters. "We are serious about it."

Mr. Prasad said Reliance holds 80%-90% participating interests in its overseas blocks and that it plans to bring the stakes down to 40%-50%.

He didn`t say which are the blocks Reliance is looking at for selling its stakes.

Reliance has 14 blocks overseas--in Peru, Yemen, Oman, Kurdistan, Colombia, East Timor and Australia. For the quarter ended Sept. 30, the average production at the Yemen Block 9 was about 4,200 barrels of oil per day.

Reliance farmed out 30% of its participating interest in Oman-Block 18 and 25% in Oman-Block 41 to Oman Oil Company Exploration and Production, Oman Oil said Oct. 14.

Under farming out pacts, oil exploration companies sell their stake to others in exchange for fulfilling certain conditions such as drilling the block.

Reliance earlier had 100% participating interest in the two Oman blocks.

In the year ended March 31, 2009, Reliance farmed out 25% participating interest in Block K in East Timor.

Source : wsj

GUJARATHI...

chief,

for your kind information, the exact location of Cambay basin is at KHAMBHAT, 130 Km. form Ahmedabad.

GUJARATHI



...

chief,

that news i have posted above.

GUJARATHI...

RIL readying $25bn for global acquisitions: Sources
======================================================

India’s petro-chemical giant Reliance Industries (RIL) is actively scouting to acquire more than one overseas company, sources close to the company tell CNBC-TV18. The Mukesh Ambani-promoted RIL is learnt to be readying a war chest over USD 25 billion for overseas buys.

Sources say that bankrupt Holland chemical company LyondellBasell is one of the company’s radar. LyondellBasell`s US and Europe assets may be valued at USD 10-12 billion.

Investment banks have approached RIL with other global proposals and these proposals may include US’s energy giant ConocoPhilips’ refining assets, Volero, and assets of British Petroleum in Gulf of Mexico, say sources.

RIL may also look at selling some of its treasury stocks when it arrives closer to buying any of the foreign assets, sources says, though any such acquisition timeline would at least be four-five months away.

RIL has nearly USD 5 billion in cash while its gross debt stands at Rs 70,000 crore as of March 2009.

RIL, however, would be careful in valuations and would not be in a rush to buy, sources say, though the company feels now is the right time to acquire assets as valuations are good.

Source : moneycontrol

GUJARATHI
...

Reliance finds oil in Gujarat
==============================

Reliance Industries has struck oil on land in Gujarat’s Cambay basin, at a distance of 130km from Ahmedabad. The oil was found in the fifth well, which was drilled to a depth of 1451 metres.

“Reservoir thickness of 15 metres was found. The well flowed at the rate of 500 barrels of oil per day,” a company statement said.

“This discovery is expected to open future potential within the block,” Reliance said, adding the discovery had been named Dhirubhai-43.

“Commercial viability of this discovery is being ascertained through more data gathering and analysis. 3d seismic data have been acquired over 80 per cent of the block and 2d seismic data have been acquired over the entire area,” it said.

Analysts said further drilling was necessary to assess the significance of the find and once the reserves were proven, its value could be determined.

The oil discovery adds to hopes that success in RIL’s exploration business will help to allay worries on the refining margin side.

The Cambay basin block was awarded to RIL in the fifth round of bidding under the new exploration licensing policy. The company holds 100 per cent participating interest in the block.

The discovery has been notified to the government and the directorate-general of hydrocarbons,” RIL said.

GUJARATHI...

U.K. GDP Dropped 2.4% in First Quarter, the Most Since 1958
===============================================================

The U.K. economy shrank more than previously estimated in the first quarter in the biggest contraction since 1958 as the recession choked industries from construction to services.

Gross domestic product fell 2.4 percent from the final three months of 2008, compared with the previous estimate of a 1.9 percent drop, the Office for National Statistics said today in London. The median prediction in a Bloomberg News survey of 28 economists was for a 2.1 percent decline.

Bank of England Governor Mervyn King said last week that Britain`s recovery from recession may turn out to be a long, hard slog. While business surveys have indicated the economic slump is easing, unemployment may continue to increase and net mortgage lending has slowed to the weakest pace since records began in 1993.

`The best the U.K. can hope for is a very muted, mild recovery,` said James Knightley, an economist at ING Financial Markets in London. `Unemployment still rising and credit is still restricted. We could get more of a rebound in third quarter.`

The drop on the quarter was the biggest since the year that Michael Jackson was born, when Harold Macmillan was prime minister and Jerry Lee Lewis released `Great Balls of Fire.`

The contraction matched the 2.4 percent drop in the third quarter of 1979 after rounding, though it exceeded it by 0.04 percentage point, the statistics office said. On the year, GDP dropped 4.9 percent, the most on record.

Construction Slump

Construction slumped by 6.9 percent on the quarter, revised down from a drop of 2.4 percent published in May. The services decline was 1.6 percent, revised from a 1.2 percent drop.

U.K. financial services companies may cut 13,000 jobs in the third quarter even as they express rising optimism for the first time in two years, the Confederation of British Industry said in a report yesterday.

Corus, the U.K. unit of Tata Steel Ltd. which provides more than two-thirds of the company`s output, said on June 25 that more than 2,000 jobs are at risk.` London Stock Exchange Group Plc said the same day it plans to cut 120 staff, more than a tenth of the workforce.

King told Parliament`s Treasury Select Committee on June 24 that problems in the banking system mean the recovery is `uncertain.` Policy makers this month unanimously voted to continue buying 125 billion pounds ($207 billion) of assets with newly created money and to keep the benchmark interest rate at a record low 0.5 percent.

U.K. mortgage approvals climbed less than economists forecast last month. Banks granted 43,414 loans in May, compared with 43,191 in April. Bank of England policy maker Kate Barker said on June 24 that Britain`s housing market was `still some way away from normal.`

The housing market may still be stabilizing after prices fell about 20 percent from their peak. House prices unexpectedly increased for a second month in June a report by Nationwide Building Society showed today. Values increased 0.9 percent after rising 1.3 percent in May.

Source : Bloomberg

GUJARATHI...

Inflation @ 0.44 ......

Then Deflation could be next problem for Indian Economy. Deflation is more painful situation then very high inflation.

GUJARTHI...

Satyam Loses 46 Customers to Rivals -Economic Times Reports

March 17 (Bloomberg) -- Satyam Computer Services Ltd. has lost outsourcing contracts from about 46 customers to rivals such as International Business Machines Corp., Tata Consultancy Services Ltd. and Wipro Ltd., India’s Economic Times reported, citing an unidentified person familiar with the developments.

Applied Materials Inc., Nissan Motor Co., Sony Corp. and Telstra Corp. are among companies that have moved or are in the process of seeking out other vendors, the newspaper said. Satyam doesn’t comment on speculative reports, Sridhar Maturi, a Hyderabad-based company spokesman, said by telephone.

Satyam’s state-appointed board is seeking to sell the fraud-hit company after founder Ramalinga Raju said Jan. 7 he’d inflated more than $1 billion in assets, triggering a 75 percent slump in the stock. The Hyderabad-based software provider aims to win back investor confidence by selling a controlling stake even as it restates accounts and faces lawsuits in the U.S.

Nissan’s Tokyo-based spokeswoman Pauline Kee declined to confirm or deny that the company is seeking other vendors. Sony spokesman Atsuo Omagari declined to comment on the report.

Telstra dropped Satyam as the supplier of a software- support contract worth about $32 million a year, the Australian newspaper separately reported today, citing unidentified people.

“Decisions about supply arrangements with individual vendors will not be announced to the media by Telstra at this stage of the process,” the Australian company said in an e-mail.

IBM’s Bangalore-based spokesman Prashanth Balarama declined to comment on the report. Pradipta Bagchi, a Mumbai-based spokesman for Tata Consultancy, said the company doesn’t talk about its clients. Wipro’s Bangalore-based spokeswoman Radhika Mahadevan declined to comment.

Satyam has lost three “major” clients including State Farm Mutual Automobile Insurance Co., Chairman Kiran Karnik said on Feb. 24.

GUJARATHI...

12 Mar 2009 17:42
Posted by : GUJARATHI
Addressed to MALAYALI, KotakInvestment, Be and Make, chief_kamani, BAZEEGAR, dineshsahay, googol, guruguru, hembhat, hsnmf, kadiyali, pup, nightowl, pitquote, radhika_nandlal, santhosho, snvaish, Udayan Mukherjee, TrueCompanion, vkk43
================================================
Switch Out from Satyam & Switch In to Rolta
================================================

Now, after Satyam`s EoI bidders name declared and there is only 3 bidders viz. L&T, Tech Mahindra & Spice (no globle players are interested at all). Out of 3 bidders forget about Spice, B.K. Modi can`t bid agressively and L&T will also won`t take risk of bidding agressavily as there is only 3 local bidders. In these circumstances, I will recommend one should switch over to Rolta and get out of Satyam at this levels (Rolta @ 41 & Satyam @ 48).

Buying Rolta at this level, after this downfall, 20-30% upside is surely possible if market remains above 2500 for the month of March.

However if it fall make it for long term and average again at lower level, the stock is currently available at very attractive value.

GUJARATHI
===============================================

As I recommended, who ever got swithced out from Satyam @ 48 and entered in rolta @ 41 have already saved Rs. 3/share in Satyam and gained Rs.13/share in Rolta as of now.

I am still holding rolta and will continu to hold it till 60. Above 60 I will book part profit in that counter.

Stay safe, and remain in gain always.

GUJARATHI...

Malayali,

Market is paused due to expectation of RBIs rate cut. If inflation is falling like this RBI will be in wait and watch kind of mode.

RBI has already reduced interest rates a lot but banks are not reducing PLRs proportationately. Hence RBI will only cut further rates, if they can pressurise banks to cut their PLRs agressively.

And if RBI will not cut rates then down to 2500 is sure for next week.


GUJARATHI...