Be proud tht India has state like Gujarat & Leader like Mr. Narendra Modi ( A leader not Politician )

GUJARAT IN NEWS

World's Cheapest Car TATA"s NANO will be manufactured in GUJARAT & distrubuted in India & across d World.

According to the August 8 report of the National Council of Applied Economic Research, the richest city in India is now Surat , ahead of Bangaloreand Madras , with an average annual household income of Rs0.45 million (over$11,000 per year). 80 per cent of all diamonds sold anywhere in the world arepolished in Surat 's 10,000 diamond units.

The only non-Jews in the Tel Aviv and Jerusalem diamond bourse areGujjus.Between 2004-5 and 2007-8 Surat 's middle class doubled in size and itspoor reduced by a third.

The fifth richest city in India is now Ahmedabad, ahead of Bombay andDelhi , and miles ahead of Calcutta .

The percentage of man-days lost in Gujarat due tolabour unrest is 0.42 per cent, the lowest in India . Of Gujarat 's 18,048 villages, 17,940 have electricity.Under Chief Minister Modi, the face of industrial Gujarat is changing.

The world's largest oil refinery is coming up in Jamnagar . Owned by Reliance,it already refines 660,000 barrels of oil a day and will double that this year.

Thirty per cent of India 's cotton is grown in Gujarat , 40 per cent ofIndia 's art-silk is manufactured in Surat , employing 0.7 million people.

The world's third largest denim manufacturer is Ahmedabad's Arvind Mills.

A KPMG report says 40 per cent of India 's pharmacyindustry is based in Gujarat with companies like Torrent, Zydus Cadila, Alembic,Dishman and Sun Pharma.

The state of Gujarat's GDP has been growing at 12 per cent a year for the last 12 years, as fast as China 's.

India 's wealthiest man, Mukesh Ambani of Reliance, is Gujarati. Forbes says he is the world's fifth richest man, worth $43 billion.

Azim Premji of Wipro, is Gujarati. He is the world's21st richest man, worth $17 billion.

Ten of the 25 richest Indians are Gujarati.Some of the best business communities in India -- Parsis,Jains, Memons, Banias, Khojas and Bohras -- speak Gujarati.

The two great leaders of the subcontinent, the Mahatma andthe Quaid, were both Gujaratis from trading communities. One a Bania, the other a Khoja.

Gujaratis number 55 million, five per cent of India 'spopulation living on six per cent of surface area, but hold 30 per cent of allIndian stock.

Gujaratis account for 16 per cent of all Indian exports and 17per cent of GDP.

JAI GUJARAT - JAI BHARAT MATA KI!

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Don't quit; persist and be patient

Anyone who undertakes a venture in any field of human excellence is bound to face not merely difficulties but often also frustration and even ridicule or lack of support, extending itself to a situation of his not even being noticed, let alone being approved. He, who having undertaken this journey after having analytically comprehended his true capacities and talents in the chosen field, would find strength from these lines of the poem Don't Quit: "When things go wrong, as they sometimes will,When the road you're trudging seems all up hill,When the funds are low and the debts are high,And you want to smile, but you have to sigh,Rest, if you must — but don't quit".

Indeed tough times don't last but tough people do. Failures and repeated failures, besides instances of discouragement and repeated discouragement, should be met with repeated attempts and renewed courage. This concept is epitomised by the incident concerning king Robert Bruce, who after many defeats in war, on observing a spider repeatedly attempting to make its web till it succeeded, recoups and marshals his forces again for the final and successful battle. These lines of 'Don't Quit' are, thus, doubtless not mere theoretical rhetoric: "Don't give up, though the pace seems slow - You might succeed with another blow".

The intelligent seeker would also see through the vain boasts of the shallow and the overconfident. He would realise the force in Henry Thoreau's observation: "The mass of men lead lives of quiet desperation". It is a pity that, very often, even the intelligent are overawed by sheer glitter and make-believe, as were the many terrified onlookers, in that didactic story, who stood rooted 'appreciating' the 'thin' robes of the 'king emperor', until a mere child exclaimed, "Why is the emperor naked?"


Not seeing any light at the end of what may appear an unending tunnel, the truly courageous would know how, as noted by the poem, often "success is failure turned inside out" and about those tragic cases where "often the struggler has given up When he might have captured the victor's cup And he learned too late, when the night slipped down,How close he was to the golden crown". The path to excellence is indeed, as difficult to pass over as a razor's edge. Truly, the message for the doubting, yet true seeker, would be, "Don't ever quit"!


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Can we bounce back AGAIN ?

Hello Readers / Visitors,

We are back from where we started at 19 Sept'2008 as updated in our previous posts weekly charts.

Today we have updated Nifty daily charts which shows the Trendline from where we bounced last 2 times. This is the third time Markets are testing this trendline support, if we manage to sustain this levels then we can again see Nifty testing 4200 - 4400 levels in days to come else we can test previous double bottom support at 3800 levels else even lower.

Basically markets are waiting for some big news for moving up of Nuke deal, if it does then we can see pull back. In short we can say MAKE or BREAK situations for markets.

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NEW $1

Hello Readers / Visitors ,

This is just imaginary view of new photographic $ after subprime & bankruptcy in United states.

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BIGGer bull run yet to come: Rakesh Jhunjhunwala

Rakesh Jhunjhunwala is India’s most successful investors; one of the stock market’s most successful stories. The sometimes maverick, often mercurial but always a respected voice. He is a wealth creator and a man who anyone who enters the stock market wants to be.

Here is a verbatim transcript of Investor and Trader, Rakesh Jhunjhunwala' s exclusive interview with Mitali Mukherjee on CNBC TV18's Wealth Creators show. Also watch the accompanying video.

http://www.moneycontrol.com/mccode/news/article/news_article.php?autono=356959

Source : CNBC-TV18

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US FINANCIAL CRISIS – A LONG AND DARK TUNNEL TO LIGHT

Hello Visitors / Readers,

Globalisation today seems like a double edged sword. If we were celebrating the big way in which major FIIs of the world were queuing up to invest in the Indian stock markets and also in major projects through FDIs, today, that same investment looks like a big burden. What we used to say with pride yesterday of “being globally aligned” seems like a curse now.

The collapse of the USA financial markets has unleashed a wave of uncertainty, we don’t know which bank or financial institution or mutual fund or insurance company might announce bankruptcy. If Lehman and Merrill could collapse, nothing more would now come as surprise, its just that people want this precipitation to get over and done with, so that we can salvage what we can from the debris and once again look at rebuilding.

For the Indian markets, this crisis of confidence is huge. We are still trying to ascertain the damage and like the rest of the world, do not know what more lies ahead. The day the news broke, there was a virtual meltdown across the board but the maximum brunt was borne by the banking, finance or NBFC stocks, realty and IT stocks. It was too early for the banks to come forth and state their damage but the markets knew that it would be substantial.

EFFECT ON INDIAN BANKS:
The worst affected is the private sector bank, ICICI Bank, its exposure is to the tune of $80 million, which it invested in Lehman’s senior bonds. The bank has issued a statement saying that it had already made provisions of $12 million on these bonds and a further $28 million worth of provisioning might be required if 50% recovery is assumed. SBI has an exposure of around $55 million (Rs256 crore) and PNB $5 million to Lehman. Bank of Baroda’s exposure is less than $10 million. Bank of India is stated to have a direct exposure of $11.33 million.

One will soon seen banks issuing statements, stating that its exposure is minimal and its impact on the profitability would not be too much. But surely, the impact would be there and profitability will take a hit. At such times, we cannot help but wonder how our hard earned money, which we park with the banks, manages to earn such losses?

EFFECT ON NBFCs:
The effect on portfolio management services is expected to be huge. Even when Bear Stearns had collapsed, there wasn’t this sense of panic and surely confidence was intact. Today, investors have lost complete faith. They are just too scared to go even bottom fishing in this market. The feeling is that this bear phase is for the long run, no one knows where the bottom is, so they feel why invest now when there might be an opportunity later? This psyche of the investors is bound to hit the business of these NBFCs. As such these NBFCs were seeing a slowdown due to lower demand from customers and challenging market conditions, The collapse just made things worse.

EFFECT ON REALTY/INFRA PROJECTS:
Now this is going to be the most troubled. Lehman and Merrill have invested through FDIs in many projects in India, in realty and infrastructure. Those projects which have received the full amount earmarked for the project are safe. But what about those, who are yet to get the promised funds? Surely their projects lay in a lurch today. Unitech has also gone on record stating that it has received Rs.740 crore and has closed the deal with Lehman Brothers. DLF Assets raised US$200 million in 2007 as equity from Lehman Brothers, the company says that the money has been received but equity is yet to be transferred. In HDIL, Lehman, through its Hong Kong subsidiary, had signed a written agreement to float a SPV for developing a project in Dharavi. That lies in uncertainty now.

Lehman had also invested $80 million in Bangalore-based SEZ Gandhi City and was likely to hike its share to $300 million. Ashok Piramal’s Peninsula Land has inked a JV with Lehman, which will have a stake of 75% is to bring in Rs.5 billion, to invest in various realty projects of Peninsula.

What happens to that now?

Lehman has a 28.41% stake in KSK Energy. The above shares are locked in for a period of one year from July 05, 2008 (the date of IPO allotment) and cannot be sold in the stock market till the expiry of the said period. But does this rule hold true when Lehman goes bankrupt?

Similarly, Merrill Lynch has taken a 12.74% in Resurgere Mines.

EEFECT ON PRE-IPO PLACEMENTS:
Apart from the projects, the biggest threat is for projects which currently seeking pre-IPO placements. With a fear psychosis gripping all, and FIIs yet to ascertain the losses on which they are sitting on, it is going to become difficult for companies, vying to set up mega projects but seeking pre-IPO placements with reputed FIIs. Lack of any takers for pre-IPO stakes would mean delays. Yes, there will be other invesors who would be willing to buy stakes but would now expect it at far below the prevailing market rates. But will that again be ecnomically viable?

Adani Power is currently looking at placing 4.4-5% stake of its equity with private equity investors. Jet Airways had planned to raise $400 million from private placement with institutions. ICICI Securities planned to offload 15% of its stake to raise $1 billion. What happens to their IPOs now?

Morgan Stanley Private Equity is to pick up a 30.4% stake in Biotor Industries for Rs.240 crore ($53 million). Will that happen now? Tata’s Ginger Hotel chain planned to offload 20% of its stake to raise $75-100 million for expansion of its no-frills hotel chain Ginger. Retail chain group – Subhiksha which also nurtures plans of going public is seeking FII investment for its 9% stake and was hoping to raise $80-100 million(Rs.400 crore). Will these investments come through?

This does not bode well for the market as it is the primary which feeds the secondary market. The primary market is an indicator of the economic activity and now, with pre-IPO funding also expected to face an uphill task, IPO markets could come to a grinding halt for some time.

AIG might have been pulled back from the brink of bankruptcy but it indicates the deep rooted trouble in the US financial markets. The collapse of Lehman and Merrill is sure to have far reaching consequences in India. We can only hope that this is the end of the dark tunnel though the road to light is dark, long and winding.



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WHO WILL GO DOWN NEXT ?

Hello Readers / Visitors,

“Who is next?”
That seems to be the biggest question and the reason for the extraordinary uncertainty prevailing in the world financial markets. Clearly the US Govt coming to the rescue of AIG did not help recoup the sentiments and the fear psychosis continued till the mid morning, after which the Asian markets and the Indian markets staged a recovery. For India, the Finance Minister coming out and assuring that India need not panic and going on record to state that Indian banks, especially the PSU banks had virtually no exposure to Lehman helped bolster the sentiments. Mr.Chidambaram stated that the Govt would be going ahead with its reform process and expected the Indian economy to grow at around 8%. Dalal Street felt assured and banking stocks were the first to recover.

Prior to this assurance from the Finance Minister, the moods remained despondent and all eyes were on developments unfolding in USA. The market has now learnt to read the signs and based on yesterday’s market data, it has emerged that Morgan Stanley was a major seller on Dalal Street. Morgan Stanley Mauritius Company, the company through which Morgan Stanley trades in India, executed block deals through P-Note transfers. It sold stocks worth Rs.871 crore. It sold 25.51 lakh shares of United Spirits at Rs.1,328 per share which was entirely purchased by Goldman Sachs. It sold 57.47 lakh shares of Pantaloon Retail at Rs 359 per share and this was purchased by Deutsche Securities Mauritius. It sold stocks of Educomp (5.32 lakh shares); Jindal saw (17.72 lakh shares); Subhash Projects (8.1 lakh shares) and all these were also purchased by Deutsche Securities Mauritius. It also sold Opto Circuits (7.53 lakh shares) to JF Eastern Smaller Companies Fund and Gujarat NRE Coke (18.31 lakh shares).

Morgan has totally invested Rs.11,200 crore in Indian stocks and this sell off yesterday, indicates that it has sold off around 8.5% of its total holdings. But the point to be noted here is that for every sale, there has been another FII buying, everyone is not just selling and running off. Doesn’t this mean that some well-to-do FIIs (a rare breed today!) are still favourably disposed towards India?

This is exactly what happened before Bear Stearns publicly announced that it was in irreversible trouble and ditto with Lehman too. These FIIs had started selling in bulk their holdings in the Indian markets, a few days before going bankrupt, trying to shore-up as much liquidity as possible. The name of Goldman Sachs also seems to keep popping up and keeping a close tab on the trades would indicate whether it too has started selling.

News on the street is that Morgan has sent out an SOS and is looking for a suitor. The one name which is coming in is of Wachovia, the fourth largest bank of USA.

Washington Mutual is also stated to be in trouble and JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Wells Fargo & Co are expected to bid for parts of USA’s biggest savings and loan company. The perception on the street is that such deals which would help bail out troubled institutions would help revive some confidence back into the world markets.
The markets also started recovering on news that UK’s troubled bank – HBOS would be bailed out by Lloyds TBS for $22.2 billion. HBOS, based in Edinburgh is the largest provider of home loans in UK. There is some sense of belief that banks and institutions which could go phut, would be bought over and might not go the Lehman way. That is the only shred of optimism on the streets now. Plus of course the fact that all that is bad will happen in this week, we cannot go down any more. The big banks going bust would mean that smaller ones would also go down but this is probably the fag end of the entire sub-prime mortgage crisis.

From here, in a fortnight from now, Wall Street would never be the same and the entire world financial scene would have undergone a monumental change, liquidity pressure would be very high, and accessing capital would be a major issue and yet, with the markets being in such an oversold position, there would be smart short rallies once rebuilding starts.

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