If I knew it would be the last time I'd see you fall asleep,
I would tuck you in more tightly and "pray the Lord, your soul to keep."

If I knew it would be the last time I'd see you walk out the door,
I would give you a hug and kiss you, and call you back for more.

If I knew it would be the last time I'd hear your voice lifted up in praise,
I would video tape each action and word, so I could play them back day after day.

If I knew it would be the last time I could spare an extra minute or so
to stop and say "I love you," instead of assuming you would know I do.

If I knew it would be the last time I would be there to share your day,
I'm sure you'll have so many more, so I can let just this one slip away.

For surely there's always tomorrow to make up for an oversight,
and we always get a second chance to make everything right.

There will always be another day, to say our "I love you's",
and certainly there's another chance to say our "Anything I can do's?"

But, just in case I might be wrong, and today is all I get,
I'd like to say how much I love you, and I hope we never forget.

Tomorrow is not promised to anyone, young or old alike,
and today may be the last chance you get to hold your loved one tight.

So, if you're waiting for tomorrow, why not do it today?
For, if tomorrow never comes, you'll surely regret the day...

That you didn't take that extra time for a smile, a hug, or a kiss,
and you were too busy to grant someone, what turned out to be their one last wish.

So, hold your loved ones close today, and whisper in their ear,
that you love them very much and you'll always hold them dear.

Take time to say "I'm sorry," "Please forgive me," "thank you," or "its okay".
And if tomorrow never comes, you'll have no regrets about today.


(author-unknown)...

(Deal may be in exchange for 8-10% stake in firm; money likely to be used to fund the purchase of a coal or iron ore mine)

Mumbai: Tata Steel Global Holding Pte Ltd, the Singapore-based subsidiary that owns the international steel and mining assets of Tata Steel Ltd, the country’s largest steel maker, is in talks to raise at least $1 billion (about Rs4,400 crore) through private equity (PE) transactions or a private placement of shares with institutional investors, and likely use the money to fund the purchase of a coal or iron ore mine or part of one.
In the wake of a sharp surge in raw material prices, Tata Steel and other Indian steel makers are looking to acquire iron ore, limestone and coal mines abroad.
The private equity deal could be in exchange for an 8-10% stake in Tata Steel Global, said a senior transaction adviser at a multinational investment bank operating in India who is familiar with the development.
This would peg the subsidiary’s enterprise value at more than $12 billion.
The current market capitalization, or market value, of the parent Tata Steel in local bourses has slipped just below $10 billion, following a slump in domestic equity markets this year.
A second investment banker, with another foreign firm, confirmed that Tata Steel is in discussions with private equity firms and some other large funds. Both bankers did not want to be identified as the deal hasn’t been finalized yet.
A Tata Steel Ltd spokesperson, in reply to a detailed email query, said he was “not in a position to comment”.
Two analysts said the move is logical.
“Tata Steel is looking to buy overseas coal assets,” said Manish Sonthalia, head of equity research at local brokerage Motilal Oswal Financial Services Ltd. Loans taken for funding the company’s Corus acquisition have been taken care of and there is no need for fresh loans, he added.
Tata Steel plans to buy assets, mainly iron ore, coal and limestone mines, worth $2 billion, said a steel sector analyst at a foreign brokerage in India who did not wish to be named. The fund-raising could only have a positive impact on the parent firm’s shares traded locally, he added.
Tata Steel Global’s assets include British steel maker Corus, Tata Steel Thailand (formerly Millennium Steel), Tata Steel Global Minerals and NatSteel Asia.
Corus, Europe’s second largest steel producer with annual revenues of around £12 billion and annual crude steel production of more than 20 million tonnes (mt), was acquired by Tata Steel in 2007 for £6.2 billion.
While Tata Steel’s operations in India have sufficient primary raw material such as iron ore to feed its plant in Jamshedpur, it has to import a third of the coal it needs. Corus is also largely dependent on long-term contracts with suppliers and so-called spot purchases.
This has been hurting Tata Steel’s consolidated results since the acquisition, as the British steel maker accounts for nearly one-third of the parent company’s consolidated revenue.
The two entities together hold reserves to meet just about 20% of their raw material requirements, increasing the cost of steel production.
Steel companies are scrambling to grab whatever mining assets they can as iron ore prices have nearly doubled this year coking coal rates have surged threefold.
“The perception of risk on the global subsidiary holds more for the UK steel firm,” said a third analyst who tracks Tata Steel for another foreign brokerage.
According to this analyst, though the outlook for Indian steel companies is not bright in the current environment, it is unlikely to affect valuation of Tata Steel Global.
Tata Steel, which was valued at Rs68,312 crore early this year, has seen a 39% slump in its market capitalization to stand at Rs41,775 crore as on Thursday.
The stock, part of India’s benchmark index Sensex, fell 1.65% to close at Rs571.80 on the Bombay Stock Exchange on Thursday, while the 30-stock benchmark index fell 1.75%, or 248.45 points, to end at 14048.34. The Sensex has fallen by at least 30% this year.
Tata Steel, along with its associates, has operations in 24 countries and commercial presence in more than 50 nations.
The company is looking at forming iron-ore and coal ventures in Mozambique and is scouting for limestone ventures in Oman, chairman Ratan Tata said at the company’s shareholder meeting on Thursday.
Tata Steel Ltd said on Thursday its consolidated net profit, including Corus, surged 60% to Rs3,900 crore in the first quarter ended 30 June, on increased prices and output of high-grade products. Excluding Corus, the company had last month posted a 22% jump in June-quarter profit to Rs1,422 crore.


(Livemint)...

Unitech rings loud on telecom spectrum allotment ---------------------Unitech rose 3.40% to Rs 158.35 at 11:17 IST on BSE after its telecom unit received 4.4 megahertz of spectrum in the GSM band in Madhya Pradesh.


The company made the announcemnt after market hours yesterday, 28 August 2008.

Meanwhile, the BSE was up 382.49 points, or 2.72%, at 14430.83.

On BSE, 4.48 lakh shares were traded in the counter. The scrip had an average daily volume of 26 lakh shares in the past one quarter.

The stock hit a high of Rs 159.30 and a low of Rs 156.40 so far during the day. The stock had a 52-week high of Rs 546.80 on 2 January 2008 and a 52-week low of Rs 135.10 on 16 July 2008.

The scrip had underperformed the market over the past one month till 28 August 2008, falling 8.68% compared to the Sensex’s 2.10% fall. It had also underperformed the market in the past one quarter, falling 37.92% compared to Sensex’s 14.99% fall.

India’s second largest real estate developer by market capitalisation has an equity capital of Rs 324.68 crore. Face value per share is Rs 2.

The current price of Rs 158.35 discounts its Q1 June 2008 annualised EPS of Rs 7.42, by a PE multiple of 21.34.

With this, the company has been allotted initial spectrum in six service areas out of the total 22 service areas, the statement added.

Unitech’s net profit rose 13.4% to Rs 301.31 crore on 3.1% fall in sales to Rs 739.82 crore in Q1 June 2008 over Q1 June 2007.

Unitech develops self-sustaining residential areas, commercial spaces, amusement parks, infrastructure development, thermal power plants, transmission lines, highways, flyovers, industrial facilities, steel plants, and overseas turnkey projects.

(capital market)...

Tata Steel gains from Corus' pricing freedom
---------------------MUMBAI: A sharp jump in quarterly consolidated net profit and challenges from a tight raw material position were the key areas of Tata Steel chairman Ratan Tata’s address to shareholders at the company’s 101st annual general meeting (AGM), which was marked by fear of protests by environmentalists.

The Mumbai-based steel company, which is now the world’s fifth largest by capacity after the acquisition of Corus, said its consolidated net profit for the April-June period surged 60%, mainly as Corus was able to raise product prices unlike parent Tata Steel that has been bound by an assurance to the government to maintain prices. Tata Steel, along with other primary steel makers, had agreed to maintain prices for three months through to May, to help the government control inflation. On Thursday, the government said inflation had moderated to 12.40% from 12.63%.

Consolidated net profit for the first quarter, after minority interest, totalled Rs 3,900.90 crore, compared to Rs 2,431.50 crore. Sales in the same period grew 39% to Rs 43,560 crore.

“It is difficult to tell how (steel) prices will move as raw materials will put a pressure on margins,” Mr Tata said in response to a shareholder’s query. “As we move forward, we’ll be able to tell how the prices will function. Also, the health of the economy will say how much (raw material hikes) will be passed on.”

While steel companies haven’t yet indicated any move to raise prices, the gap between Indian and international prices — overseas steel products are costlier by an average Rs 15,000 per tonne — and rising ore and coke rates could force companies to revise September prices upward.

But international steel prices are beginning to feel the impact of a global slowdown led by recessionary trends in the US and a cut down in expenditure in China, post the Olympics. Iron ore prices have surged 85% in the past year, while coking coal rates have grown two fold in the same period, Mr Tata said.

The 101st AGM of Tata Steel saw record turnout from shareholders and the general public alike even as company executives fretted about a possible protest by environmental activists. The company has been the target of a series of innovative protests in the past month; a forged statement on suspension of work on a port project, a leaked footage of a plant accident at Corus last year and sit-ins by Greenpeace activists have worried company officials.

Mr Tata said that Tata steel is taking steps to secure raw materials such as iron ore and coal for Corus as the UK subsidiary buys its entire mineral requirements from the market. Also, as Tata Steel is also expanding capacity at Jamshedpur and setting up a greenfield plant at Orissa and Chhattisgarh, it will need additional raw material assets. The consolidated financials didn’t enthuse Tata Steel’s stock, as the company’s shares fell 1.6% to Rs 571.95, the lowest among Sensex stocks.

ET...

MUMBAI: Tata Steel, the world's sixth-largest steelmaker, reported Thursday consolidated first quarterly net profit rose over 60 per cent, lifted by earnings from its recently acquired British unit Corus.

For the three months to June consolidated net profit rose 60.5 per cent to 39 billion rupees (892 million dollars) from 24.31 billion rupees a year earlier, the company said.

"The company's performance was the best ever (when we include Corus)," Tata group chairman Ratan Tata told shareholders at the company's annual general meeting in India's financial capital Mumbai. Total income rose more than 39 per cent to 435.6 billion rupees for the quarter.

The figures were calculated on a proforma basis as the profits of Corus were not included in the company's consolidated quarterly earnings last year. Last month, Tata Steel's Indian operations announced net profit to June climbed 21.9 per cent to 14.88 billion rupees.

The company, part of the sprawling Tata Group conglomerate, was vaulted to sixth biggest steelmaker from 56th after buying Anglo-Dutch company Corus for 13.7 billion dollars last year. The merged Tata Steel-Corus company plans to produce 25.6 million tonnes annually, the company has said.

The steel giant's 101st annual general meeting was attended by Corus officials now on the Tata Steel board. Since May, Tata Steel has kept steel prices in India unchanged following a government directive, but faces the challenge of meeting rising raw material costs, which could weigh on future profits, analysts say.

ET...

Jai Corp likely to foray into city gas, LPG distribution------------MUMBAI: Anand Jain promoted Jai Corp steps on gas. The company plans to get into distribution and supply of city gas and liquefied petroleum gas (LPG), hitherto an area primarily dominated by the government-owned oil marketing companies (OMCs).

Confirming this move, Anand Jain, chairman Jai Corp told ET, “We have passed an enabling resolution to get into the distribution of city gas.” The company intends to start supply of city gas and LPG to its SEZs in Mumbai and Navi Mumbai. Later, it will expand its operations in other cities. Jai Corp plans to supply gas through three subsidiaries namely Urban Gas, Urban Gas Distribution and Urban Gas Suppliers. It will shortly seek the government’s approval for the same.

Although the company will supply gas to its twin SEZs in Mumbai to begin with, it will later extend the operations in other parts of Maharashtra. “We will take out gas supply business to the cities where we will set up townships,” he said. Reliance Industries (RIL), it may be mentioned, is barred from getting into supply business in Mumbai as per the no-compete agreement it signed with the Anil Ambani group. Mr Jain is a close confidante of RIL’s chairman Mukesh Ambani.

The family agreement, which divided the Reliance empire between the Ambani brothers three years ago, kept the distribution of city gas in Mumbai and New Delhi exclusively reserved for the Anil Ambani Group. Therefore, RIL has sought the government’s approval for the gas projects in 52 cities except New Delhi and Mumbai.

LPG is the most popular fuel in Indian households. So, creation of an LPG distribution network is a logical extension for the infrastructure company which has been setting up three SEZs. “Going forward, the company will also cater to the LPG requirements of other small cities,” said Jai Corp in its latest annual report. Mr Jain is chairman of Navi Mumbai SEZ (NMSEZ) and Maha Mumbai (MMSEZ), where Jai Corp has a 10% stake.

Interestingly, two associate companies of Jai Corp have received the support of Maharashtra government to set up two 2,000 MW power plants in Raigad and Thane districts of Maharashtra, near the proposed SEZs. The 2005 family settlement prohibits Reliance Industries from getting into power business. Jai Corp has got the government approval to acquire agricultural land over 250 hectares for setting up two township projects in Maharashtra. These townships will house the people working within the two SEZs.


ET...
...

It's vital to revisit and monitor your portfolio at least annually to check on the status of your allocations and make sure your investment funds are performing as expected. Why?

Here's the rebalancing 'problem' in a nutshell. Let's assume you're an investor with a portfolio that includes $100,000 in stock funds (50 per cent of the portfolio) and $100,000 in bond funds (the other 50 per cent). For simplicity's sake, let's say the stocks have doubled in value to $200,000.

Note, however, that your portfolio's asset allocations are now 67 per cent in stocks and 33 per cent in bonds, a 17 per cent deviation from your original portfolio.

Depending upon your stage in life and your financial plan, this happy development may mean it is time to rebalance.

When is it time to rebalance your portfolio?

Long-term investors should only rebalance when truly necessary, for example
When significant gains (such as those from the bull market) or major losses have skewed your intended allocations;
When your investment objectives change;
When you need to shift your portfolio into more fixed income vehicles (bonds) as you enter retirement or plan to invest part of your savings for a shorter-term need;
When stock or fund seems to be consistently and continually slipping compared with the benchmarks; or
In the case of a mutual fund, when a proven manager leaves a fund and you are unsure about the replacement.
Research shows us that rebalancing too often accomplishes very little, except in extreme cases. In other words, take the time to choose your allocations correctly and stick with them: Rebalance annually and sell only the bottom quartile of your holdings based on performance.

Monitoring your investments is an important part of portfolio maintenance, but remember that buy-and-hold investors are long-term strategists. Life has a strange and unpredictable habit of forcing us to rebalance our lives as well as our portfolios unexpectedly. Rebalancing is as natural as replacing an automobile or anything else that wears out or just falls apart.

Always remember that the object of rebalancing your investments is to focus first on your overall portfolio, not so much on individual stocks, funds or fixed income securities.

6 portfolio rebalancing rules

Here are six crucial rebalancing rules, according to the American Association of Individual Investors Journal.

Annual rebalancing: "Remember that rebalancing does not need to be frequent - annually is sufficient. However, your actual portfolio allocations will be constantly changing due to varying performances and as you withdraw funds."

Don't stray too much: "Don't worry about straying from your desired allocation by a few percentage points, but straying by 5 per cent should start to become a concern, and straying 10 per cent will have a major impact on your portfolio's return. In between that range - it's a tough decision and will likely be dictated by your personal tax situation and personal preferences."

Minimum commitments: "At least 10 per cent of a portfolio must be committed to a market segment to have a meaningful impact" on your portfolio. "If your desired allocation to a particular asset class is only 10 perc ent, you would not want to stray below that amount by very much; in contrast, falling a few percentage points below a 30 percent desired level would be less of a concern."

Discipline: "Rebalancing provides a discipline: it forces you to sell high and buy low." In other words, when making specific rebalancing decisions, a savvy investor will take profits in the sales, while seeking value in the replacements.

Don't get greedy: If you have a portfolio of mutual funds that have been very successful, "consider selective pruning of individual holdings that have done well." In short, stay focused on your overall portfolio, without failing in love with any particularly hot funds.

Focus on the long term: "Enjoy the bull market while it lasts, but don't let several terrific years deflect you from a long-term strategy." In short, remember: The market does advance, but in cycles that go down as well as up. Plan your asset allocations for the long term through both phases.

(source-Rediff)...

very true. q1 eps 53-annual cud be 200. world class co going for less than 5 pe. strange are the way of mkt. being commodity play it never got its dues. KUDOS TO TATA BY DREAMING BIG N SHOWING METTLE:...

One lakh is enough just for 3 to 4 months expenses if you wish to live decently. Where i can go for the rest. I bought a house in Mumbai when i was working early days for 30000 (one room flat in Sion) Today the open car park is sold for 3 lakhs (then comes the cost of the house starting from as low as 60 lakhs) What to do with one lakh. Please take the message in lighter side- i am just writing that today there is no value for one lakh rupees. Cheers Latikav...

Do banks accept Gold bars (sold by them) as collateral?...

Good points. In case there is a huge difference between the home loan rates for existing and new customers. ideally the existing customer should be able to go to a new bank and refinance his loan. Unfortunately, your existing bank will levy a significant percentage in processing fees so that any incentive you had in moving to another bank gets taken out. This is another unfair trade practice but our govt. is in a deep slumber. Be it Real estate, finance and banking, public infra, substandard IPOs - the govt. is just letting the free for all go on. When will they wake up to serve the citizens who elected them and not the corporates who fund them....

latikav, being a newbie, i dint know you were a sis...... love to you.. this was for you too.. belated though it may be.. regards...

so one need to short sell at cmp. that what happens always whenever fresh f@o positions required these brokerages give recomandations. since tomarrow is expiry its their plan. dont get into it....

from which newspaper and on which date did u pick up this article do reply...