1) Paris Pasu http://wp.me/pc3rd-f
2) RPL METHODOLOGY TO LURE THE RETAIL INVESTOR http://wp.me/pc3rd-i
3) HDFC all set to buy CBOP http://wp.me/pc3rd-k
4) Typical spinoff situation http://wp.me/pc3rd-l
5) MUTUAL FUNDS SURVEY BY BUSINESSWORLD http://wp.me/pc3rd-m
6) INDIA : THE EMERGING GIANT a book by Arvind Panagariya’s http://wp.me/pc3rd-n
7) Process of passing the Budget http://wp.me/pc3rd-o
8) THE ECONOMIC SURVEY 2007-08 http://wp.me/pc3rd-p
9) Things Which appears First to me http://wp.me/pc3rd-q
10) ICICI overseas losses mount to $264m credit exposure…http://wp.me/pc3rd-v
11) CRITIQUE FOR THE BUDGET 2008-09 http://wp.me/pc3rd-z
12) WHAT TO READ IN AN OFFER DOCUMENT ?? http://wp.me/pc3rd-A
13) Sensex down 27.5% ..just in 2 months time frame http://wp.me/pc3rd-B
14) YET AGAIN! FED CUT RATE BY 0.75%, Mayhem in markets http://wp.me/pc3rd-C
15) CAT Bonds and CAT Swaps http://wp.me/pc3rd-D
After the marathon weekend and meetings the European leader agreed only for the partial solution as reported by IMF.Dejavu for Harry potter and Twilight Saga where last part was not enough to conclude the movies so they have to make last edition part 2 sequels to conclude the series.
With the Summit having reached a climax, we now wait on a few final sex-scenes to play out. The plot started falling apart on Thursday with ECB boss Mario Draghi’s impotence, but by forming a circle, holding hands, and chanting IMF and G-20 over and over, he was able to perform to Italian stallion standards, at least for a day.
The difference between unlimited lending by the ecb to banks and unlimited lending by the ecb to governments, Seems like sleight of hand to me…you can print money in the banking sector companies they make crap loans and pay fat bonuses buy can’t lend money to the governments because they pay out welfare and health benefits? They are both wrong…the printing of money can equally mean the socializing of losses or no taxes for anyone… (Just print money and pay no tax!) .. Is the difference because banks are a better credit risk than governments or that banks are better run that governments? Looks to me that both are screwed up destroyers of savings and cash flows from tax payers.
Twilight is the rehypothication of Harry Potter. Formulated and without substance. An empty 2 part ending, because they read they should have a 2 part ending to make more money rather than the story demands it.
Pretty much where the EU is now, setting up an empty 2 part flop with hopes that more money spent on marketing will win the day.
With the debacle of Satyam Chairman SEBI had made useful amendments in the month of January. SEBI has provided for disclousre norms when the promoters of the listed company pledged there shares. The amendments mandates that the promoter should disclose to the company the details of the pledged shares.
The Disclosure shall be made to the stock exchange in any quarter if the total no. of shares pledged by the promoters exceeding 25000 shares or 1% of the company which ever is lower.
Steps taken by SEBI are commendable but these are some of the dark areas which could have been considered:
1. The amendments do not made compulsory in the event of indirect pledging of shares of the listed company promoters.
2. The mandated disclosure for share pledging are restricted to the promoters, it could be extended to others also.
3. Negative pledging situation has been covered or not yet to be disclosed.
4. The time frame of 14 days is longer than the time frame mandated for other disclosure under the take over.
SEBI did a commendable job with the disclosures after the Satyam Saga we hope to see SEBI being the one of the world’s best regulator in the future.
In my last post of corporate governance and the Satyam Saga, my conventional view was that Mr. Ramalingam Raju should resign or Satyam shareholder would sack the management. And today it turned out to be a disaster all the newspapers from general to finance, the 24*7 media coverage rigorously carried the story of India’s biggest corporate fraud “THE SATYAM” which has tarnished India’s image.
Every body is pointing fingers towards Satyam management its stock price but what about the 53000 employees and quite a lot of them are fresher. Already the global turmoil has dented the world economy the job market is on the task the future seems to be uncertain.
Although Mr Raju created the company and brought at such a respected level winning the awards like entrepreneur of the year award and the corporate governance golden peacock award which was just taken back today. But how could he forget the simple words of the world that with great position there lays a great responsibility. The employee of the Satyam always saw Raju as there role model.
The corporate governance is all on the doll drum, as if now there is no clarification on the finance side by the Satyam board which briefed media today. The CFO has resigned from his designation but it’s not accepted yet. I still doubt was it planned or things are now going in a random way. This is one of the biggest corporate failures directing affecting the image of the corporate India. It was a blue chip Index and Nifty script where lot of investors Mutual Funds, Banks, Insurance involved and invested in it.
Already India does not have a good reputation for doing business, it stands way below to countries like Sri lanka and Pakistan and incidence like this will definitely hamper the economy. The Indian government and the regulator should set an example to other corporate by following the trial at fair, accurate and at a fast pace and prove the world that Indian regulators will not tolerate any kind of voilations and code of conduct.
The story of Satyam computers limited has now taken a new turn and it has been hit hard this time. The WORLD BANK on November 23rd barred Satyam from performing its business with them for a period of 8 years, one of the biggest punishments given by the World Bank after 2004. This is a direct question mark on the credibility of Satyam Computers Limited.
In the matter of 15 days Satyam computer again put on the task and the share prices has plunged down. Earlier the company was in the news because of the insane decision taken by the management to buy Maytas properties private limited and Maytas Infrastructure limited, both promoted by the Raju Son’s.
This was one of the unprecedented moves under the current circumstances where the real estate sector is toppling. The offer made by Satyam to buy these infrastructure companies was much more above the real estate sector giant Unitech, no chocolates for guessing the bid it was the personal interest of the management which came above the shareholders common interest.
The move was unethical and reverted back by the management, a software company diversifying into real estate is itself a question mark, because Software Company didn’t have a debt or very less debt into their balance sheet vice versa to a real-estate company.
In the process Mr Ramalingam Raju lost almost Rs 9630 crores value of the company, when the corporate governance is beginning to show its positive signs in India with quite good regulations the move has dampened the spirit and the shadow of India in the world.
Shouldn’t Mr Ramalingam Raju take the responsibility of what had happened and resign from his position, by showing his placidness. Other wise the institutional investor could exercise their rights.
CONGRATULATIONS TO ALL MY BATCHMATES! We all have completed our (PGP) Post Graduate Program “MASTERS IN FINANCIAL MARKET”, in the turbulent time. Things have gone pretty fast in 18 months, when we all joined the programme markets where evaporating at 18000 levels and gone beyond there fundamental valuations.
We are so fortunate that in a very short span of 18months we were able to see the complete market cycle in the month of JULY 2007 The Sensex crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points.
The Sensex actually crossed the 20,000-mark on October 29, 2007 during intra-day trading but closed at 19,977.67 points. However, it was on December 11, 2007 that it finally closed at a figure above 20,000 points on the back of aggressive buying by funds. The 30-share index spurted 360.21 points to fly-past the crucial level and closed at 20,290.89. The NSE Nifty closed at a record high of 6,097.25 points, up 136.65.
Every body was Gung-ho from a Paanwala at the street to the corporate honcho of Investment banking firms and forecasted market to be at 50K level at the end of 2008. But the SUBPRIME failure fiasco has another story attached to it every thing has changed in-fact profiles like investment banking has completely eroded from the financial world for the time being.
The turmoil spread like a contagion and conflagrated the whole world, our economy has also taken the beating what has happened in the west.
Expectations has gone down few of our batch mates had taken up the job, some have compromised where as the rest of us are still thriving for it.
Here is my proposal how we can be the market beaters:-
- We must never forget our core subject corporate finance, Debt market, Derivatives, Fundamentals, Financial Management.
- We must be proactive and be with the market, never miss any economic event be it US automobile bailout or Prime Minister Manmohan singh offering package to the Indian financial sector.
- Focus on our key areas our strengths where we can expertise.
- We will try to match our self with the market and see what the market demands from us rather then we demanding from the corporate world.
- Last but not the least, have patience and faith in the God. Every body will get his/her destiny what he deserves.
Concluding my thoughts by the famous saying TOUGH TIME NEVER LAST BUT TOUGH PEOPLE LIKE US DOO…and emerge as a winner.
VIEWS FROM MY BATCH-MATES ARE MOST WELCOME..
Extraordinary problem require extraordinary solution, In this turbulent time most of my batch mates were demoralized with there placement, I came through across one of the self improvement book by Stephen R Covey, The 7 Habits of highly Effective People.
The book describes the power of Paradigm shift, the books recalls habits which are general that represents the initialization of correct principles upon which enduring happiness and success are based.
The book defined habit as the intersection of Knowledge (what to do & why), Skills (how to do) and desire (want to do). Habits 1, 2, 3 deals with self-mastery.4,5,6 deals with public victories.
The 7 Habits are:
1. Be Proactive
2. Begin with the end in mind
3. Put first things first
4. Think Win – Win
5. Seek 1st to understand then understood
7. Sharpen the Saw
I strongly recommend my friends and batch mates to read this great book. Because in today’s market Charles Darwin theory holds true: “Survival of the fittest”.
From the last week the issue has been continuously appearing in all the news papers which includes the business news paper too. Yesterday night at HBO I watched the movie by Al gore the noble laureate his concerns for the earth were very real the movie is an eye opener to the human community.
This year IIFA awards theme was also based on the global warming Mr Ambitab Bachan raised very important questions?
1) If not earth then were ?
2) If not us then who ?
The deforestaion is going at a very rapid pace, glaciers are melting like any thing. 40% of the populaton depends upon the Himalyas for the drinking water, and not far away from the time this 40% poulation will soon extinguish. Its time to pull up the shocks against global warming.
Go Green. Just Do One “Green Thing Today .
1) Carry your own water bottle instead of buying the disposal water bottle.
2) Not buy coffee or tea in a disposable cup .
By taking few of these steps will save a chunk of money at the end of the month and also the Planet were we live EARTH.