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General
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BIG PICTURE
* India Aug 16 WPI inflation 12.40% vs 12.63% week ago (NW18)
* Japan Credit Rating Agency affirms India\'s BBB+ sovereign rating (NW18)
* India to sign free trade agreement with ASEAN in December. (NW18)
.
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HOME FRONT—
* Lok Sabha poll likely in April 2009 (DNA)
* India to ask Bangladesh for action against HUJI terrorists (PTI)
* PM announces 10 bln rupees, 125,000 tn foodgrains for Bihar (PTI)
* Death toll in India floods rises to 87 (CNN)
* Soren will seek trust vote Friday (ToI)
* Hundreds flee home after Hindu-Christian clashes in Orissa (AFP)
* Promiscuity of victim no excuse for rape, says Supreme Court (DNA)
FOREIGN AFFAIRS—
* Gustav hits Jamaica; Haiti says 51 dead (CNN)
* China voice unease on Russia\'s recognition of Georgia\'s regions (WSJ)
* US troops indicted in Afghan bribe case (CNN)
* Anwar sworn in to Malaysian parliament (var)
* UN concerned over civilian casualties in Jammu & Kashmir (PTI)
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INDIA-RELATED---
* Lower solvency margin requirement drives down term insurance rates (ET)
* India clinches ASEAN Free Trade Agreement (BS)
* General Motors India engine unit to start ops Jan-Mar 2010 (NW18)
* Protestors to stop Tata workers at Singur (ToI)
* Tata Steel Global eyes $1 bln PE deal (Mint)
* Govt may trim planned expenditure to curtail deficit (Mint)
* RBI Mohan meets Chidambaram amid speculation on governor selection (NW18)
* Govt decides to auction 3G spectrum for CDMA players as well (NW18)
* Tata Motors aims to up FY09 margin via cost cut; no price hike now (NW18)
* NALCO to import 100,000 tn coal by end Mar to feed facilities (NW18)
* Fire at Sintex\'s Kalol plant but situation under control (NW18)
* Shipping body says ministry for tax breaks to Indian seafarers (NW18)
* Cipla 2007-10 capital expenditure estimated 20 bln rupees (NW18)
* Zenith Computers plans to raise capacity to 300,000 units FY09 end (NW18)
* Tech Mahindra to buy 17.28% stake in European co Servista (NW18)
* Great Eastern Energy plans sponsored issue (BS)
* Subhiksha to invest up to 4 bln rupee on large format stores (NW18)
* Aditya Birla Nuvo to buy Apollo Sindhoori stake for 2 bln rupees (NW18)
* Industry body seeks withdrawal of stock limits on edible oils (NW18)
* Tata Motors says Singur stir may hit Nano project deadline (NW18)
* Head sees Cipla\'s FY09 revenue growth at 12-15% (NW18)
* ICICI Bank\'s Morparia quits, to join as head of JP Morgan India (NW18)
* Govt official sees Gujarat 2008-09 castor acreage up by 33,000 ha (NW18)
* BSE gets SEBI in-principle nod for exchange traded FX derivatives (NW18)
* Ratan Tata says input cost rise may lead to steel sector slowdown (NW18)
* Dhoots of Videocon chart succession road map (ET)
* Wadias, Danone close to resolving dispute (ET)
* RBI says cos raised $2.47 bln via ECB in Jul, nil via FCCB (NW18)
* 3G spectrum for CDMA operators to be auctioned (HBL)
* Study says India 2007 business-to-business spend $2.3 trln, up 23% (NW18)
FROM OVERSEAS---
* Merrill losses wipe away long-time profits (FT)
* Toyota cuts 2009 sales forecast by 7% (FT)
* China, Iraq revise earlier pact to develop Ahdab oil field (WSJ)
* Worker productivity up, real income down in US (CNN)
* Oil industry prepares for Gustav storm, prices rise (CNN)
* China audit shows state misused $6.73 bln (FT)
* Bankruptcy filings surge to $1 mln, up 29% (CNN)
* China Mobile trails over 3G technology (FT)
* Ricoh in $1.62 bln move for Ikon (FT)
* UK house prices suffer double-digit fall (CNN)
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SPORTS---
* \"Indian athletes can\'t respect most officials,\" says Abhinav Bindra (ToI)
* World billiards championship in Bangalore from Monday (PTI)
* PCB ropes in Lanka for a tri-series in South Africa in mid-Sep (PTI)
* Pak hockey coach resigns after Olympics debacle (PTI)
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* LA casino king ready to gamble big on India (FE)
* Mayawati joins Sonia on Forbes list of most powerful women (ToI)
* Gujarat film portrays \"Patel Motel\" on moon (ToI)
* RBI phasing out 1996 series 500 rupees, 1,000 rupees notes (var)
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Corporate Events--------
Earnings For Year Ended June To Be Detailed By-
+ Gillette India.
+ Procter & Gamble Hygiene And Health Care.
* Agm Of---------
+ Apar Industries. + Motor & General Finance.
+ Apple Credit Corp. + Npr Finance.
+ Bemco Hydraulics. + Padam Cotton Yarns.
+ California Software Co. + Pearl Global.
+ D-Link (India). + Pentamedia Graphics.
+ House Of Pearl Fashions. + Petron Engineering Construction.
+ Ifb Agro Industries. + Punjab Chemicals & Crop Protection.
+ India Foils. + Rotam Commercials.
+ India Lease Development. + Salzer Electronics.
+ Indian Toners & Developers. + Securities Capital Investments India.
+ Integra Hindustan Control. + Stone India.
+ J K Paper. + Suditi Industries.
+ Kpit Cummins Infosystems. + Tamil Nadu Newsprint & Papers.
+ La-Mere Apparels. + Tinplate Co. Of India.
+ Larsen & Toubro. + Ugar Sugar Works.
+ Maxwell Industries. + Up Hotels.
+ Milkfood. + Valecha Engineering.
+ Miven Machine Tools. + Vip Industries.
* Board Meeting Of-------------
+ Acrysil To Issue And Allot Equity Shares On Second Conversion Of Warrants.
+ Bcc Finance To Consider Cessation Of Existing Coal Business.
+ Fiem Industries To Consider Dividend.
+ Genus Power Infrastructures To Consider Dividend.
+ Icsa India To Consider Dividend.
+ Ind Swift Laboratories To Consider Allotment Of Shares To Promoters.
+ Jupiter Bioscience To Consider Dividend.
+ K Sera Sera Productions To Consider Issue Of Equity Linked Instruments.
+ Kisan Mouldings To Mull Issue Of Optionally Fully Convertible Warrants.
+ Koffee Break Pictures To Mull Re-Issue Of 219,000 Forfeited Shares.
+ Manappuram General Finance & Leasing To Consider Fund Raising.
+ Micro Technologies India To Consider Dividend.
+ Mount Shivalik Industries To Consider Dividend.
+ Punjab Chemicals & Crop Protection To Mull Stake Buy In Agrochemical
Formulation Unit And Explore Acquiring Product Portfolio.
+ Salzer Electronics To Mull Recommendation On Merger With Salzer Cables Ltd.
+ Satra Properties India To Consider Dividend.
+ Syncom Formulations India To Mull Rights Shrs, Convertible Warrants Issue.
+ Vardhaman Laboratories To Sell Whole/Substantial Part Of Co's Undertaking.
+ Veer Energy & Infrastructure To Consider Bonus Share Issue.
+ Vijay Shanthi Builders To Consider Allotment Of Equity Shares.
+ Vikas Profin To Consider Name Change.
+ Winsome Textile Industries To Mull Issue Of Convertible Warrants.
+ Winsome Yarns To Consider Issue Of Convertible Warrants.
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President Patil to give away country\'s highest sports awards--Arjuna and
Rajiv Gandhi Khel Ratna awards today.
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QUOTE OF THE DAY
"It took six years for India and ASEAN to understand the sensitivities of each
other."
- Commerce Minister Kamal Nath on finalisation of the free trade agreement
between India and the 10-member Association of Southeast Asian Nations.
(Business Standard)
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india market in a bright future in sep2008in a gold month....
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india market in a bright future in sep2008in a gold month....
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Book value of investments in listed firms doubles to Rs 6,291 cr in FY07.
Tata Sons, the holding company for all Tata Group’s investments, has increased stakes in several group companies in an attempt to thwart any potential hostile takeovers.
For the year ended March 2007, Tata Sons has increased its stake in Indian Hotels to 68.5 million from 6.7 million a year ago. The corresponding figures for Tata Steel and VSNL are 139.7 million (110.8 million) and 24.2 million (10.3 million). Among unlisted companies, Tata Sons significantly increased its investments in Tata Sky.
However, its stakes in Tata Motors and Tata Power were more or less unchanged. An interesting note in the Director’s Report is the suggestion that Tata Sons is worried about a potential hostile takeover bid on some of its listed subsidiaries, where its stake is less than 50 per cent.
The book value of investments in the listed companies doubled from Rs 3,644 crore to Rs 6,291 crore in the same period.
Tata Sons reported a total income of over Rs 3,800 crore and net profit of Rs 3,300 crore, which translates into earnings per share of Rs 82,000 for the financial year 2006-07. To top it all, it reported reserves of Rs 12,000 crore. The other income of Rs 2,300 crore is mainly profit from the sale of shares, mainly in Tata Consultancy Services (TCS). Roughly, 20 million TCS shares were sold during the year.
The market value of its investments is over Rs 1,00,000 crore, but with some of its biggest subsidiaries yet to be listed, there is great potential for value unlocking.
FINANCIALS FY07
Total income Rs 3,852 cr
Net profit Rs 3,335 cr
EPS Rs 82,322
Reserves & surplus Rs 12,123cr
Dividend income Rs 1,300 cr
Profit on sale of shares Rs 2,300 cr
Almost the whole of the group’s billion-dollar income is from dividend declared by its listed subsidiaries and profit from sale of shares in these companies. Dividend from TCS is the single biggest contributor to Tata Sons’ income with Tata Motors and Tata Steel also chipping in with decent amounts.
Tata Sons has investments in over 100 companies, of which only a dozen-odd are listed. It has 82 subsidiaries, of which 80 are unlisted.
Some of the prominent ones are its DTH venture, Tata Sky, and its insurance JV with AIG, both of which are in the red now.
Unlike Bharti and Reliance Communications, which report quarterly profits in excess of Rs 1,500 crore, Tata’s telecom subsidiary, Tata Teleservices, is bleeding with losses close to Rs 1,000 crore for FY07. Its retail chain, Croma, which commenced operations in 2006-07, also reported a marginal loss of Rs 18 crore in its first year.
Not surprisingly, Tata Sons is also a major source of funds for its group companies. It stands guarantor for thousands of crores of loans given to its subsidiary companies.
So, while Tata Sons has cash reserves of around Rs 2,500 crore, it still has Rs 4,000 crore debt in its balance sheet.
As for the company management, apart from a couple of names that may not be so familiar, most of the 10 directors on the board of Tata Sons are trusted lieutenants of Chairman Ratan Tata.
The shareholding pattern of Tata Sons does not seem to have changed much over the last few years. Fifty one per cent stake in Tata Sons is held by two trusts, Sir Dorabji Tata and Sir Ratan Tata Trust.
SHAREHOLDING PATTERN
Total equity shares 4,04,146 (Rs 1,000 each)
Shareholder No of shares
Shapoor Mistry 108
Sterling Investment Corp
(Shapoorji Pallonji group) 40,319
Cyrus Investments
(Shapoorji Pallonji group) 33,925
Ratan Tata 3,368
Sir Dorabji Tata Trust 1,13,067
Sir Ratan Tata Trust 95,211
Tata Investment Corp 326
Sarvajanik Seva Trust 396
RD Tata Trust 8,838
Tata Social Welfare Trust 15,076
Tata Education Trust 15,075
JRD Tata Trust 16,200
Tata Power 5,673
Tata Tea 1,755
Indian Hotels 4,500
Tata Industries 2,295
Tata Chemicals 10,237
Kalimati Investment Co. 12,375
Tata International Ltd 155
Tata Motors 12,375
Piloo Tata 487
Jimmy Tata 157
Farhad Choksey 157
Simone Tata 2,011
Noel Tata 2,055
Virendra Singh Chauhan
(Chhota Udaipur) 1
MK Tata Trust 2,421
According to the group website, these trusts were created by the sons of the families of Jamsetji Tata, the founder of the Tata Group. Ratan Tata is believed to be a trustee in both trusts. Shapoorji Pallonji Group, one of the oldest construction companies in India, holds 18 per cent stake in Tata Sons. Ratan Tata holds just 3,368 shares in his personal capacity, which is less than 1 per cent.
While Tata Sons may be one of the most profitable unlisted companies, it also has one of the biggest balance sheets of any Indian company, especially if one were to consider the market value of its investments in group companies. No wonder then that many Tata group shareholders want Tata Sons too to be listed
(BS)...
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2904
hmmmmm this is sent for 2802!!!grrr
How I wish I got such a mail in..oooops..for 1981!!!...
In reply to:
received from a friend.....
Posted by :
nightowl
see you are soo sooo sooo smart... i always knew you figure out a way to get me to reply the right message...lols...lols,,
ref:2802 
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We do not favour RIL and RPL calls at present since refining stocks are under pressure at present.
...
In reply to:
Mukesh Ambani decries Singur agitation
Posted by :
vrp07
hi sirgi
it is aright time to enter market
i want to buy DLF 420 PUT
AISO LOWER LAVEL
RIL CALL@2300
RPL CALL@175
WHATS YOUR VIEW
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I think market will remain in rangebound situation this september...
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2903
Dear Ritz,
Thank u soooo much for giving ref.promptly.
I am also thrilled to see a mother eagerly waiting to see her daughter!!!LOL
I want some views from you (as well as other super women of this board)
Why a mother and (teen aged)daughter always fight?
Anything to do with electra complex?
Regards,...
In reply to:
received from a friend.....
Posted by : nightowl
2802
what a wonderful idea..... makes life so much easier ... specially for you, since you never have a clue asto which message im referring to... actually its not my fault... its the new format...
2802
btw
did i tell you i,m bad with no.s too..
like my typos....
may daughter is returning from her holiday tomorrow... am excited...dying to see all her pic... the face book ones are not enough
rits
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