HOME         WEBSITE         SUBSCRIBE           E-GREETINGS   
                               

Tuesday, May 19, 2009

News Flash

Sensex Gains, Extending Yesterday's Record Climb on Congress Election Win India’s benchmark stock index climbed for a second day, extending yesterday’s record one-day jump, on speculation the ruling party’s election victory will accelerate reforms to boost economic growth.

Rupee Adds to Biggest Advance in 23 Years on Outlook for Singh's Reforms India’s rupee rose, extending yesterday’s biggest gain in 23 years, on speculation Prime Minister Manmohan Singh’s electoral victory will help accelerate economic reforms.

Stock Surge Shows `Sense of Urgency' for Singh in Opening India's Economy India’s record stock-market surge yesterday after the election triumph of Prime Minister Manmohan Singh’s Congress Party is a sign of just how much investors want the next government to open Asia’s third-biggest economy.

Pranab Mukherjee Said to Remain as India's Finance Minister in New Cabinet Pranab Mukherjee may continue as India’s finance minister in the incoming government, said a senior Congress party official on condition of anonymity.

Overseas Investors Buy Indian Shares Amid Trading Freeze, Regulator Says Overseas investors bought a net 534 million rupees ($11.2 million) of Indian equities yesterday, taking their total stock purchases this year to $2.23 billion, according to the nation’s market regulator.

Reliance Capital Leads Gains Among Insurers as Singh May Ease India Norms Shares of Reliance Capital Ltd. and Aditya Birla Nuvo Ltd. gained on speculation Prime Minister Manmohan Singh’s government would ease restrictions for overseas investment in the insurance industry.

Congress Pledges to Add India's Power Capacity, Boost Nuclear Generation India’s ruling coalition, which returned to power last week with an increased majority in parliament, is likely to push for new generation capacity for the world’s second-fastest growing major economy.

Bharat Heavy, Larsen Extend Gains as Stable Government May Boost Spending Bharat Heavy Electricals Ltd. and Larsen & Toubro Ltd. extended gains on optimism a stable federal government will boost spending on the nation’s infrastructure, including power, roads, ports and bridges.

U.S. Housing Starts Unexpectedly Fall to Record-Low Pace; Permits Decline Builders broke ground on the fewest homes on record in April as a plunge in work on condominiums and apartment buildings overwhelmed the second straight gain in starts on single-family properties.

Stocks in U.S. Rise as Financials Recover Following Group's BankUnited Bid U.S. stocks rose as a bid from WL Ross & Co. and private-equity firms for BankUnited Financial Corp. assets spurred speculation that distressed companies will find buyers.

Ross, Equity Firms Said to Make Bid for BankUnited Assets in Receivership WL Ross & Co. and private-equity firms including Carlyle Group made a bid to buy BankUnited Financial Corp. assets out of receivership from the government, a person familiar with the matter said.

Daniel Och Stashes Cash as Hedge Funds Brace for Global Stock Market Slide Daniel Och had about 35 percent of his $20 billion of hedge-fund assets in cash during the first quarter because he suspects global stock markets will start falling again.

Chrysler Dealer Group Objects to Asset Sale, Seeks Time to Fight Closings A group of Chrysler LLC dealers wants to delay the sale of most of the automaker’s assets, saying those dealerships with contracts targeted for cancellation need more time to fight the rejections.

Comcast, NFL Network Agree to Contract, Ending Legal Fight on Programming Comcast Corp., the largest U.S. cable provider, agreed to a new programming contract with the National Football League Network and settled all legal disputes.

source: Bloomberg

Posted by

Blog Archive

____________________________________________________________________________________________

Disclaimer - All investments in Mutual Funds and securities are subject to market risks and uncertainty of dividend distributions and the NAV of schemes may go up or down depending upon factors and forces affecting securities markets generally. The past performance of the schemes is not necessarily indicative of the future performance and may not necessarily provide a basis for comparison with other investments. Investors are advised to go through the respective offer documents before making any investment decisions. Prospective client(s) are advised to go through all comparable products in offer before taking any investment decisions. Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the fund will be achieved. Information gathered & material used in this document is believed to be from reliable sources. Decisions based on the information provided on this newsletter/document are for your own account and risk.


In the preparation of the material contained in this document, Varun Vaid has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the Varun Vaid and which may have been made available to Varun Vaid. Information gathered & material used in this document is believed to be from reliable sources. Varun Vaid however does not warrant the accuracy, reasonableness and/or completeness of any information. For data reference to any third party in this material no such party will assume any liability for the same. Varun Vaid does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice.


Varun Vaid, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. All recipients of this material should before dealing and/or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. Any person subscribing to or investigating in any product/financial instruments should do soon the basis of and after verifying the terms attached to such product/financial instrument. Financial products and instruments are subject to market risks and yields may fluctuate depending on various factors affecting capital/debt markets. Please note that past performance of the financial products and instruments does not necessarily indicate the future prospects and performance there of. Such past performance may or may not be sustained in future. Varun Vaid, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation in the financial instruments/products/commodities discussed here in or act as advisor or lender / borrower in respect of such securities/financial instruments/products/commodities or have other potential conflict of interest with respect to any recommendation and related information and opinions. The said person may have acted upon and/or in a manner contradictory with the information contained here. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Varun Vaid. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else.


Varun Vaid also does not take any responsibility for the contents of the advertisements published. Readers are advised to verify the contents on their own before acting there upon.


Published Credits goes to following sources & all the mentioned sources as footer below the published material- Bloomberg, Valueresearch Online, Capital Market, Navindia, Franklin Templeton, Kitco, SBI AMC, LIC AMC, JM Financial AMC, HDFC AMC, The Hindu, Business Line, Personal FN, Economic Times, Reuters, Outlook Money, Business Standard, Times of India etc.