ndia is yet to make its debut on legendary investor Warren Buffett's portfolio, but there are at least three companies from the country -- technology majors Infosys, Wipro and Satyam -- that are fit to make the grade, according to Standard and Poor's.

The world's leading rating agency and investment services provider compiles a list of stocks meeting Buffett's investment criteria twice a year and the latest such portfolio includes the names of the three US-listed Indian IT firms.

Infosys, Wipro and Satyam have been named alongside global giants such as healthcare products major Johnson & Johnson, fast-food restaurant chain McDonald's, IT behemoths Microsoft, Oracle, Qualcomm and SAP as well as BlackBerry- maker Research in Motion in September update of S&P's Buffett Stock Screen.
In the previous edition of this portfolio, released in February, there were a total of 60 stocks, which has declined to 49 in the latest list.

While Satyam has made a comeback after exiting this portfolio in February, a number of big names such as technology major Apple, soft drink giants PepsiCo and Coca- Cola, industrial conglomerate 3M, tobacco major Altria Group, British American Tobacco, China Mobile, Cisco Systems, Diageo and GlaxoSmithKline have made an exit this time around.

Besides, Latin American telecom major America Movil, led by Mexican billionaire Carlos Slim who is ranked as second richest in the world after Buffett, has also moved out of S&P's Buffett screen.

The portfolio includes only those companies listed in the US market and Infosys, Wipro and Satyam have made to the list because of their listings in the country.

The list published in August 2007 has a total 55 stocks including three Indian names -- Infosys, Satyam and Wipro, while the February 2007 list had 56 stocks including two Indian names Infosys and Satyam.

S&P has been updating this Buffett portfolio on semi- annual basis -- in February and August/September -- since 1995 and it includes stocks meeting the criteria that Buffett has emphasised in the past, although these are not necessarily stocks that Buffett has bought or ever plans to buy.

"This screen, developed by Standard & Poor's, is based on criteria the legendary investor has emphasised over his long career. Only stocks with a market capitalization of at least USD 500 million are included," S&P said.

Source:Economic Times...

Today the expectation is gap up opening
and continuation of rally this week for the following reasons.

1.Crucial waiver by NSG countries
2.Resolve in the Singur issue
3.Downward trend in Crude prices
4.Near stagnation in the inflation figure
5.Expection on ratifying the waiver
by US congress on 8th.
...

CHANDIGARH : Canara bank will open 100 branches in the country and five overseas during the current fiscal and is targeting to grow by 20 per cent in 2008-09.

"We will open 100 new branches this year including 28 branches in Punjab, Haryana and Himachal Pradesh, during this year," Canara bank Chairman and Managing Director A C Mahajan said here on Saturday.

The bank has 2,694 branches in the country at present. The bank, which is in China and London, has also decided to open one office each in Bahrain, Muscat, Oman, Qatar and Johannesburg during this fiscal.

On being asked about the growth, Canara bank has set a target to achieve a business of Rs 3,10,000 crore by 2008-09 against the total business of Rs 2,61,000 crore in 2007-08, with a growth rate of 20 per cent. "We are expecting growth from power and infrastructure sectors," he said.

Mahajan was here to attend a loan distribution function for economically weaker section. He said the bank has mobilised 1.2 mn 'No Frill Accounts' till June 2008

Source: Economic Times...

Engineering and construction major Larsen & Toubro on Friday said it would issue one bonus share for every one equity share held by the existing shareholders.

The shareholders took a decision to this effect at the 63rd annual general meeting, L&T said in a regulatory filing to the Bombay Stock Exchange.

The stakeholders gave their final permission for bonus issue in the proportion of one equity share for every one equity share held by the existing shareholders, it said.

The company has also declared the dividend at Rs 15 per share, having a face value Rs 2 each, L&T added.

The company has fixed October 3 as record date for issuing of bonus shares, it said.

Shares of the company closed at Rs 2589.85, up 3.53 per cent from the previous close on the BSE.

Source: Economic times...

GMR Infrastructure
Research: Macquarie Securities
Rating: Outperform
CMP: Rs 103

Strong top line growth but with pressure on margins in 1Q FY09 results. GMR reported a very strong 86% YoY growth in revenues in 1Q FY09 driven by the first-time inclusion of revenues from Hyderabad (Rs817m) and Sabiha Gokcen airport (Rs 620m). However, EBITDA margins remained under pressure both in the airports and power segments.

In addition, EBITDA margins declined by 210bps YoY. We remain positive on GMR's long-term prospects. In our view, response to land development auction in Delhi would be critical for valuations. We maintain our Outperform rating on the stock with a 12-month target price of Rs182.
Source: Economic Tmes...

Infosys Technologies, India's second largest software services company, has acquired the UK-based SAP consulting outfit, Axon Group plc for a consideration of £407.1mn ($753.1 mn, Rs 3,310cr). The transaction is expected to close by November 2008.

Axon has around 2,000 employees and for the year ended December 31, 2007, reported revenues of £204.5mn (US $378.3mn, Rs1,660cr) and net profits of £20.2mn ($37.4mn, Rs 160cr). This is by far the largest-ever acquisition made by the company and reflects its strategic intent to grow and develop stronger competencies in its consulting business. While the deal is margin-dilutive in the short-term, it is likely to become EPS-accretive by FY2010. At the CMP, the stock is trading at a P/E of 14.4x FY2010E EPS. We maintain a buy on the stock, with a target price of Rs 2,124.

Source:Economic Times...

In the backdrop of US presidential nominee Barack Obama's comment on offshoring, India's second largest software exporter Infosys Technologies today said that it hopes the new government in America would formulate a policy that would ensure continuance of outsourcing.

"Outsourcing has made the American industry much more competitive. I hope Barack Obama will come out with a policy by which outsourcing will continue," Infosys HR Director TV Mohandas Pai told PTI, while reacting to Obama's comments on outsourcing.

India's software exports, led by companies like Infosys, TCS and Wipro draw over 70 per cent of revenue from the US market.

"Obama has only reiterated his position on outsourcing, which he has been saying all along," Pai said.
Source Indiatimes...

CRUDE oil is moved down to 114.75 Now ( down 3.40 $)and DOW rallied 172 Now..so I think we are going to have a positive effect tomorrow Regards Aru...

Dear it will come down to 109 first and then 132. As per technicals:- Positive Candidate -Short term, Aug 12, 2008 Analysis Explanation 3I INFOTECH has broken through the floor of a rising trend channel. This indicates a slower rising rate at first, or the start of a more horizontal development. The stock is between the support at 109 and the resistance at 115. A definitive break through of one of these levels predicts the new direction. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock in the short term. The stock is overall assessed as technically positive for the short term. chani ...

Yeah.....U are absolutely right......We are normally reluctant to accept any change for that matter..... Instead of accepting our own mistake due to our ego we blame the persons who are instrumental to make us accepting these kind of innovative things......Thanks&Regards...