NANO – DRIVING FROM SINGUR TO DHARWAD ?

Hello Readers / Visitors,

Amidst all this looming global uncertainty, the last thing which one would want is more uncertainty on the home turf. So when right now liquidity is an issue and raising capital would pose some serious challenges, surely any company would like to avoid the additional stress caused by uncertainty over its project itself taking off due to land or environmental issues. In all this cacophony caused by the crisis in the world financial markets, all attention got completely diverted from the other domestic issues, which were earlier causes for pulling down the bourses.

The Tata Nano at Singur was one such issue, which simmers even today. It’s probably just that so much other bad news has come in that this is now passé, too small on a macro level. But yet, it remains an issue. There is now news of the company holding talks with the Karnataka Govt, for 1,000 acres of land at Dharwad, the alternate site for setting up the project. And if this happens, kudos to Tata Motors! And the country would boo West Bengal!

If Tata Motors moves out of West Bengal, in the present financially critical time, no company would want to take up anything in a State where there is so much uncertainty over getting land. Uncertainty over capital, uncertainties over land, how much more can any company take? It will surely put West Bengal on the world map, finding itself a place in the list of States to be avoided for doing business in India. If this is the plight of one of the most respected business house of India and of the most prestigious project for India, what could happen to those in the second rung? Naturally, others who are planning to set shop in that state, would now surely rethink.

One of the first companys’ to be vocal about it is Infosys. The IT company has plans to set up a software development centre in Kolkata but the companys’ Human Resources Chief Mohandas Pai said. "Singur has created a fear in the minds of India Inc. We have neither pulled out nor are planning to. We will rethink and reconsider the situation if need be." He has just said aloud what other companies in the state are feeling right now. Infosys is also again a very conservative group and they would not mouth such words, unless pushed to the corner. So when this is the sentiment of two of the top business houses of India, is there much hope for the state?

The official website of the West Bengal government calls itself a ‘Super Power’ and goes on to list the various advantages of doing business in the state. Well, at this juncture, we can only say, “Well designed website”. Under West Bengal Industrial Development Corporation (WBIDC) various ‘Parks’ are being set up. These parks are under various stages of progress. 2,500 acres of land is required for the Mega Iron & Steel Park and though WBIDC has identified the land, it is yet to be acquired. The Biotech park requires 60 acres and yet to be acquired. The Foundry Park requires totally 924 acres of land of which 300 acres have been purchased and the balance will be purchased through a committee set up by the State Government. For the Rubber Park, about 35 acres of land has been acquired out of total requirement of 170 acres. The Knowledge Park requires 850 acres which has been identified. This is great, so much employment would be generated. But again, it’s all about land acquisition. Will these projects be able to get the required land and even if they get the land, will they manage to start work?

If Ratan Tata pulls out, immediately under threat is the existence in the state of the ancillary units in Singur. Other companies like - Tata Realty Infrastructure, Tata Metaliks and Maithon Power might also seriously rethink. Bharat Forge, which had decided to invest big time in Bengal, around Rs.6,500 crore, largely because of the Nano, is now in two minds.

Reliance Retail was to set shop in a big way in West Bengal and even after hiring people, it was forced to shut shop and sack all the 400 people who had secured employment. Its stores were attacked by supporters of left-wing parties and made it impossible for the company to continue work. Reliance Retail is doing well today despite not operating in West Bengal. So whose loss has it been?

Videocon is setting up a 3 mtpa steel plant and has drawn out an invesment plan of Rs.15,000 crore. The company has thankfully clarified that its project is on track despite the Singur controversy. The company has acquired 400 acres of some 3,500-4,000 acres required. Here, the company is approaching the farmers directly and not through Govt acquisitions. It hopes to get all the required land by December 2008. That’s, real positive attitude, hope it works!

JSW Bengal Steel project is also going ahead and is sure of keeping to its schedule. It has already acquired 4,800 acre land and expects to commission an eight million tonne per annum iron ore beneficiation unit and six million tonne per annum pellet plant in West Bengal by 2012. How did the company manage to get the land? Like Videocon, it decided to take the lead and formed a three-prong strategy. First, instead of giving the sale proceeds to the farmers, it was decided to deposit the proceeds of land sale in a bank to ensure that they get monthly income. Second - a job to each family and third - a stake in the company. This is probably what the Tatas should have done too. But those in Bengal say that Jindal was getting jittery and to hold him back, the Govt agreed to make the Salboni unit an SEZ, the place where its greenfield unit is being set up.

Jai Balaji is putting up a Rs 16,000 crore, 5 mtpa steel plant, including a 3 mtpa cement plant and 1,214 MW captive power plant near Purulia and its land requirement is of 4,000 acres. 1,500 acres was to come in the first phase and this is yet to happen. Other projects facing similar situations are the Rs.16,000 crore investment from the Vedanta Group, Adhunik Steel (Rs 6,400 crore), Shyam Steel (Rs 8,000 crore) and Abhijit Steel (Rs.10,800 crore). These companies have either acquired a part of the land required or have fully acquired the land, yet right now, they are in two minds about going ahead.

Call it politicization or mishandling, the entire Tata Nano project has caused a dent on the brand image of West Bengal. If Tata pulls out, well, then God save the state! --

Source : Premium Investments

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WEEK END UPDATE

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Updating Weekly charts again where we mentioned earlier that if we sustain this trendline on weekly basis then we can see Nifty 4200 - 4400 - 4600. Also we have written that we can test 3800 levels if we break below this trendling line, In this week Nifty made low of 3799, just below 1 point of our support level of 3800 & bounced sharply & managed to close at 4245 spot levels.

Please note that all NIFTY levels are spot levels.

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Educomp Intraday chart 19 September 2008

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REPORTS LINK

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DEAD CAT BOUNCE 15 September 2008

Hello Readers / Visitors,

We are updating weekly charts for Nifty in live markets after markets are in full panic mode & Sensex is down by 600 odd points @ 13400 lvls & Nifty down by 200 odd points @ 4025 lvls.

In charts we have indicated a trendline from where the last bounce came, today again we are at the same level & markets are halting at this levels. If we manage to close above this trendline this week then we can see some pull back in the markets & can again test 4200 - 4400 - 4600 lvls else we can see recent bottom of 3800.

Todays sell off was mainly due to Lehman brothers filing Bankruptcy Chapter 11, Huricane storm, weak global cues , weak sentiments & continous selling from Fii's.

Lets check out few days closing to judge the trend in markets.

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Good day



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WHERE DO U KEEP YOUR HANDPHONE ?

Hello Readers / Visitors,

At the rate at which we are going, we might have to live life like inthe stone age to survive all the ills of modern technology.

Pls read!

Where do you keep your Handphone normally?

This morning I heard a true and sad story from a colleague of mine. Shetold me one of her friends is always having abortions.When the foetus gets to be 2-3 months old she loses it. This happenedseveral times over. The couple went to check with many doctors and atlast one ofthe doctors examined the dead baby and found that the baby's body cellskept dying as the baby was growing in the womb until he/she could notsurvive.This was because her uterus was affected by Handphone Radiation.

The doctor told her she now has no chance to give birth to a healthybaby because the radiation has affected her uterus so that the majorportion of the cells in her uterus have already died.

This happened because she has been keeping her handphone in her workingjacket so that the phone rested against just on the right spot of theuterus. She had been wearing it like this for a fewyears.

Please beware of this and take note if you don't want what has happenedto this woman to happen to you.

Dearest friends & family members,

Please do not ignore handphone radiation which will damage our healthor body organs. Please put away your handphone when ever you don'tneed it much.

Guys, Please do not keep your handphone near to the kidney position andpants pocket as this will damage your genital area and affect yourability to father a baby.

The other doctor also advised another friend to keep her handphone awayfrom her new born baby to avoid radiation damage to the baby's braincells.

Do not let the baby or toddler play with the handphone. This is becausethe small young baby or toddler is still very fragile and growing, sohe/she is muchmore vulnerable to radiation damage.

Please remember not to sleep together with your handphone or put it nextto your bed. Keep any other electronic goods (such as tvs) which alsogive off radiation away from your bedroom to reduce risk as we have tosleep a few hours every day in our bedroom at night.

Further, do not imagine that if you switch off the TV there will be noradiation. Actually it is still around in your room. It is notadvisable to have even a small digital alarm clock close to yourhead while sleeping.

Take Care of yourself and your loved ones

Thank you

Please pass this on to your friends and family.
I would rather be careful than regret not knowing


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HAPPY INDEPENDENCE DAY, VANDE MATRAM

Hello Readers / Visitors,

Vandemataram…
Valentines Day, new year, friendship day . Every1 celebrates n msgs b4 10 days regarding that, But independence day there is no advance msg from anyone, let us celebrate the independence day at least from now .
PROUD TO BE AN INDIAN .

This is our 61st Independence Day!
Freedom is not a Right but a Feeling!
Let's be proud to feel the Freedom!
Let's say loud we are INDIANS!!!

Let all of us get to-gather &
Let's Celebrate Our Freedom!


It is our duty to preserve this Freedom!
Carry this forward to the future!
We did, We do, We will do!!!

Set the celebration on Air, Share your Joy, You're Free to do it, Send this to every Indian, to say
Vande Mataram!

Jai Hind

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