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n order to pump liquidity into the market, an industry lobby on Thursday requested the central Reserve Bank of India (RBI) to reduce cash reserve ratio and repo rate by 1 per cent.
In its recommendation, the Associated Chambers of Commerce and Industry of India (Assocham) has requested RBI to permit banks to borrow against government securities and provide dollars directly to oil companies, rather than routing them through the market for buying crude.
The recommendations submitted to the RBI governor by Assocham president Sajjan Jindal further said several Indian companies are now looking at rupee-funding as dollar-financing has become uncertain and difficult to raise within the RBI approved spreads.
Assocham said the level of credit needed to be redefined taking into account the base effect while planning for the future, instead of squeezing credit, which would seriously impact the survival and sustenance of industry.
Currently, the cost of money at which Indian industry borrows varies between 25-28 percent, which it said \"is very high, as a result of which its margins have already shrunk\".
The chamber has also sought easing of norms that govern external commercial borrowings to help industry raise funds from abroad.
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... CONTD..
Sources report smart money is moving into countries like Ethiopia, Somalia and India.
A leading hedge fund manager, with more than a 100 billion dollar fund under management, requesting anonymity said - "We think this is a time for defensive play. So we are moving into countries where people are already starving. As the rest of the world gives in to starvation, we believe these countries will show the smallest decline in per capita consumption."
On being questioned what if people in the above countries also decide to help the ailing economy by sacrificing their only meal everyday, the manager said - "We think that could be a blessing in disguise, as population is a major problem in India that the govt authorities have been struggling with".
Leading PE and VCC funds are said to be in talks with big farmers for converting a part of the agricultural land into cemetries - "we think every crisis throws up a big opportunity. We anticipate a glut of dead bodies in the times to come, and are gearing up for that eventuality. We also have some great innovative offerings in the pipeline to differentiate our cemetry services, and are in talks with some major spiritual houses as well".
Some money is also moving into pharma businesses, esp. manufacturers of anti-depressants and mood-elevating drugs. Pharmaceutical companies are lobbying to make some of these drugs available over the counter. (Sources)...
In reply to:
GREAT STARVATION LIES AHEAD
Posted by :
raj_tibs
A nation destined for GREATNESS in all its endeavors, where even DEPRESSIONS are GREAT, preapres to lead the world into the GREAT STARVAION!
Stocks of major fertiliser businesses fell 30-40% on Thursday, Oct 02, which also happens to be the birth centenary of the great Indian ascetic Gandhi, on speculation that worries about the global economic slowdown will lead people to lose their appetites, and that the world will witness a period of GREAT STARVATION.
Analysts believe that ultimately the global citizen will sacrifice a meal everyday to bail the economy out.
The Dow Transportation Index took a cue from the above and fell 400 points. It is believed that there will nothing left to transport, as people will not have the energy left to shop for anything due to the self-imposed starvation.
Prices of Hogs, Beef, Poultry and marine food are set to witness the highest recorded fall ever in history!
Stocks of spiritual gurus are set to rise as the rising Starvation and Despair index is expected to make spirituality the best selling commodity! 
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Brazil, Argentina stop requiring trade in dollars...
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A nation destined for GREATNESS in all its endeavors, where even DEPRESSIONS are GREAT, preapres to lead the world into the GREAT STARVAION!
Stocks of major fertiliser businesses fell 30-40% on Thursday, Oct 02, which also happens to be the birth centenary of the great Indian ascetic Gandhi, on speculation that worries about the global economic slowdown will lead people to lose their appetites, and that the world will witness a period of GREAT STARVATION.
Analysts believe that ultimately the global citizen will sacrifice a meal everyday to bail the economy out.
The Dow Transportation Index took a cue from the above and fell 400 points. It is believed that there will nothing left to transport, as people will not have the energy left to shop for anything due to the self-imposed starvation.
Prices of Hogs, Beef, Poultry and marine food are set to witness the highest recorded fall ever in history!
Stocks of spiritual gurus are set to rise as the rising Starvation and Despair index is expected to make spirituality the best selling commodity!...
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MUMBAI/ NEW DELHI: India is likely to start importing equipment and fuel from the Nuclear Suppliers Group in the next six to eight months following the approval of the Indo-US Civilian Nuclear Agreement by the United States Senate on Wednesday.
The first set of imported reactors is expected to arrive from Russia which will be put up at Kundankulam nuclear power plant in Tamil Nadu. Two imported reactors with a capacity of 1,000 mw each will be installed at the plant.
The first phase of the project is currently under implementation and is expected to be up and running by early 2009.
“An inter-governmental draft agreement is already in place with Russia and as soon as India signs a nuclear co-operation deal with it, import of equipment can start,” said J K Ghai, director-finance, Nuclear Power Corp of India Ltd (NPCIL).
Under the treaty, India has agreed to separate its civil and military nuclear facilities and place civil facilities under International Atomic Energy Agency (IAEA) safeguards and, in exchange, the United States has agreed to work toward full civil nuclear cooperation with India.
India has signed a similar pact with France after getting a waiver from the NSG to access civilian nuclear technology from other countries.
NPCIL is already in technical discussions with companies in these countries which will be followed by the next round of commercial discussions. The entire process of negotiations on the technical and commercial aspect is likely to take six to eight months before the imports of reactors can start, Ghai said.
He said the government had given NPCIL a mandate to go ahead with technical negotiations much before the entire process of nuclear deal gathered momentum on the international level.
He said NPCIL will also look at indigenisation of technology and equipment so that the costs could be brought down.
NPCIL currently supplies electricity at an average cost of Rs 2.40 per unit while its 320 mw Tarapur power plant supplies at a cost of as low as 95 paise per unit.
S Thakur, executive director - corporate planning, said, “We are in talks with companies from three major reactor suppliers in the world and an agreement in this regard will within 6-8 months.”
He said in the light of nuclear deal signed with France recently, NPCIL has now expedited its talks with France-based Areva for a possible import of nuclear equipment.
“We are also in talks with US-based General Electric and Westinghouse and a Russian company,” he said.
NPCIL plans to invest close to Rs 1,00,000 crore over the next 10 years for setting up nuclear power generation capacity of 10,000 mw. Most of it is expected to be based on imported uranium.
“The deal is going to have three direct impacts on the Indian corporates - first, NPCIL’s growth prospects will become manifold; second, new avenues for domestic equipment manufacturing will unfold and third, cost of setting up a plant will become competitive and in line with international standards,” Ghai said.
Currently, NPCIL has companies such as L&T, Kirloskar Bros, Godrej, BHEL, L&T, Gammon and HCC as its industry partners. Earlier, while talking to DNA Money, Ghai had said the standard time to set up a nuclear plant is between 60 to 70 months and entails an approximate cost of Rs 6 crore per mw. And, NPCIL has an expertise to set up three plants simultaneously. “With private players coming in, the pace of
implementation will get a major thrust,” he said.
“Setting up of a nuclear plant is a three stage process - first we require uranium, then in the second stage, which is an advanced stage, fast breeder reactors are required and the third stage incorporates thorium-based reactors,” he said.
Though India has huge reserves of thorium in Kerala, the required technical know-how was missing and this is where the deal will be fruitful.
He said in its over 40-year lifespan, a nuclear plant can generate more electricity than any other conventional source.
While 1 kilogram (kg) of coal can generate 3 kilowatt hour (kwh) electricity and 1 kg of oil can generate 4 kwh, 1 kg of natural uranium generates 50,000 kwh of and 1 kg of plutonium generates 60,000,000 kwh, he said.
The current installed capacity of NPCIL is 4,200 mw which is expected to reach 6,860 mw by the end of the XIth Five Year Plan which concludes in March 2012.
Earlier, Bharat Heavy Electricals Ltd’s chairman and managing director K Ravi Kumar had told DNA Money that the company will be able to make nuclear reactors to generate 1,000 mw and 1,600 mw of electricity with the help of the treaty with the US.
“We are already making 540 megawatt reactors, and now want to build 700 megawatt nuclear reactors on our own,” he had said.
BHEL has recently entered into a 50:50 joint venutre with the NPCIL to make nuclear reactors, which is now likely to get easy access to technology to make 1,000 mw and 1,600 mw reactors with the civilian nuclear technology treaty in place.
“Some foreign collaborators may, however, insist on certain reactors to be bought from them,” Kumar had said.
The treaty will also likely help the country in utilising the existing units that are running below capacity at present due to shortage of fuel.
Companies like BHEL and NPCIL can be more sure of getting orders and projects now as the treaty helps in giving them a long-term visibility in availability of fuel and technology, Kumar had said.
BHEL has annual capacity to make equipment to generate 10,000 mw of power, which it wants to augment to 20,000 mw in the next two years.
Now, with more orders likely for the nuclear-technology based power generation equipment, some of the capacity may go into making nuclear reactors, as the capacity is interchangeable as per requirement, Kumar had said.
DNA Money.............
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US senators voted on Wednesday to overturn a three-decade-old ban on atomic trade with India, giving final congressional approval to a landmark US-India nuclear cooperation accord and handing President George W. Bush a rare foreign policy victory in his final months in office.
The Senate voted 86-13 to allow American businesses to begin selling nuclear fuel, technology and reactors to India in exchange for safeguards and UN inspections at India’s civilian, but not military, nuclear plants.
The accord, which the House of Representatives approved on Saturday, marks a major shift in US policy towards nuclear-armed India after decades of mutual wariness. It now goes to Bush for his signature.
Bush hailed the Senate’s vote, saying in a statement that the legislation approving the accord “will strengthen our global nuclear non-proliferation efforts, protect the environment, create jobs and assist India in meeting its growing energy needs in a responsible manner”.
In India, Congress party spokesman Veerappa Moily called the deal “a monumental achievement. It’s a victory of Prime Minister Manmohan Singh’s government.”
“This is something we as a company have been advocating for,” said Peter O’Toole, a spokesman for Fairfield, Connecticut-based GE, which already supplies non-nuclear technology and services to India. “We have a long relationship with the Indian government, so we’re very pleased with the passage.”
Supporters of the agreement said it creates potential political and economic links with the world’s biggest democracy far beyond the nuclear-energy industry.
India plans to acquire nuclear equipment worth $14 billion (Rs65,800 crore) next year, Shreyans Kumar Jain, chairman of state-run monopoly Nuclear Power Corp., said on 8 September.
Energizing ties: US President George W. Bush, right, greets Prime Minister Manmohan Singh during their meeting in the Oval Office at the White House, on 25 September in Washington. (AP)Singh and French President Nicolas Sarkozy signed an agreement to cooperate on civil nuclear technology this week.
Congressional approval caps an aggressive three-year diplomatic and political push by the Bush administration, which portrays the pact as the cornerstone of new ties with a democratic Asian power that has long maintained what administration officials consider a responsible nuclear programme. Bush officials have also championed the opportunities for US firms to do business in India’s multibillion-dollar nuclear market.
Republican senator Richard Lugar said the pact protects US national security and non-proliferation efforts while building “a strategic partnership with a nation that shares our democratic values and will exert increasing influence on the world stage”.
“With a well-educated middle class that is larger than the entire US population, India can be an anchor of stability in Asia and an engine of global economic growth,” Lugar said.
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Best wishes to the Suksh Team - Srikanth...
In reply to:
Suksh Technologies to venture into online realty space
Posted by : MMB Messenger
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no it will not loking @ global scenario...
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should some one should buy tata steel at present level?...
In reply to:
Tata Steel Global Minerals enters into agreement with NML
Posted by : MMB Messenger
Tata Steel Global Minerals Holdings Pte Limited Enters Into A Binding Agreement With New Millennium Capital Corporation, Canada
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Tata Steel Global Minerals Holdings Pte Limited Enters Into A Binding Agreement With New Millennium Capital Corporation, Canada...
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On auspicious occasion I wish one and all happy Eid- Ul- Fitr- Eid MUBARAK. Let peace prevail and prosperity, health & wealth to all our country-men. Gandhi Jayanti should also usher in era of peace and non violence.Let us solve our problems by Gandhi- Giri....
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Yes mr mohan,fiis investments should be minimised to 49% in any sector.... when fiis were buying to maximum,every body happy,with the fiis started selling, our markets not able to digest/face the pressure.... so,some mesures and restrictions must be there.... thanks for sharing your views on mmb.......
In reply to:
PC says india is a sound market !!!!
Posted by :
mohanoct2004
S sir, you are right, market has disappointed maximum all indian domestic investors. there further pain to come till next financial, next government (BJP) comes to power, till FIIs are limited to invest in india. This is a very wrong decisition by FM by allowing FIIs without limit. Any sector must not be allowed more than 49% to FIIs.
Please correct me if i have any mistakes or wrong ideas.
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In Kerala ,CPM already runs an amusement park(\\\\`vismaya\\\\`in Cannanore)and planning to start a five star hotel,can you believe?...
In reply to:
CPI(M) takes MF route to build cash reserves
Posted by : MMB Messenger
With the global markets in a tailspin and the US financial crisis looks grim. While the CPI(M) continues to berate Finance Minister P Chidambaram for not taking the cue and being obsessed with stock markets, the party too hasn’t been able to entirely shun the lure of greater returns.
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Smoking ban: Money saver, health-maker, business destroyer------------------------------New Delhi, Oct 1 (PTI) Some call it a "draconian" measure while certain others consider it a "God-sent" gift that may help them in bringing down the intake of nicotine and make their wallet a little more fatter.
With hotels, restaurants, pubs, offices and other public utilities becoming out of bounds for smokers from tomorrow, the government decision to impose such a ban has evoked a mixed response.
"It is good for smokers, at least they will smoke less. It is good for the pocket as you buy less cigarettes as well as for your health," says Chandrakumar, who could not quit smoking despite taking several 'New Year resolutions'.
A top official in a Central Ministry, who requested anonymity, says it is a "God-sent gift" which would help him quit the habit of lighting up rolled-up tobacco whenever he is in stress.
However, the official is sceptical about implementation of the programme. "The government will find it a bit difficult to implement. But for the sake of their family and themselves, I think smokers should abide by law," he says.
But not all smokers are amused by the move. "This is a senseless and draconian ban. When you are stressed during work and you just want to unstress yourself, it is a necessity. Now, you have no other option," Rajiv Kumar, a software engineer, says.
Pub and restaurant owners also feel that the government rushed into such a measure without giving enough time for them to arrange space for 'smoking zones'.
"Its very difficult to follow the law and create a separate zone for smoking in the existing infrastructure. We have no option and we have decided to make the entire facility a non-smoking zone," rues a restaurant owner.
Another pub owner, who also requested anonymity, says the ban will have an effect on their business as they will not be able to provide space for smoking. The happy-lot are non-smokers who hail the decision, saying they were suffering due to passive smoking.
"It is a boon to us. We were suffering due to smokers. Whereever you go, it is full of smokers, in buses, on roads and in parks and everywhere," says Nirmala Kapoor, an office-goer.
The smoking ban, the implementation of which is effective from tomorrow, the birth anniversary of Mahatma Gandhi, will cover even hookah bars and pubs as well as private offices and public places like bus stops.
Union Health Ministry issued a notification for the ban under the Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution), Act 2003....
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S sir, you are right, market has disappointed maximum all indian domestic investors. there further pain to come till next financial, next government (BJP) comes to power, till FIIs are limited to invest in india. This is a very wrong decisition by FM by allowing FIIs without limit. Any sector must not be allowed more than 49% to FIIs.
Please correct me if i have any mistakes or wrong ideas....
In reply to:
PC says india is a sound market !!!!
Posted by : marketman
Finance minister Chidambaam says india is a sound market and assuring the investors frequently..... he has been doing so from the sensex at 20000 levels.... what is his answer to the stocks quoting at 25% of its year peaks at he moment....
In indian markets,many investors lost more than 75% of money invested within a year.... does he mind this as a sound....?!
The regulator sebi says there is no panic in markets now,yes investors already lost in many panic and nervous sessions with the sensex jurney from above 20000 to below 13000.... so,where is the need of extra panic at the moment....
Investors alreay dipped in to the deep waters,there is a little scope for extra chillness....
Everybody knows that both sebi and FM did not do their best in the stock market related matters to protect investors money in the previous years.... now commenting something just for formality sake....
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Poll
Udayan's Market Outlook
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Situation grim for Indian markets | |
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| Udayan Mukherjee, Stocks Editor, TV18 | ||
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Popular Boarders 7days| 244 | |
| 167 | |
| 105 | |
| 105 | |
| 100 | |
Top Tracked 7days| 705 | |
| 694 | |
| 459 | |
| 434 | |
| 351 | |
Prolific Boarders 7days| 418 | |