HOME         WEBSITE         SUBSCRIBE           E-GREETINGS   
                               

Tuesday, February 02, 2010

Financial News Flash

Godrej Plans to Triple Palm Oil Production in India as Consumption Climbs Godrej Agrovet Ltd., India’s biggest palm oil producer, plans to triple domestic output as demand for cooking oil surges, a company executive said.

Aberdeen Asset Favors India Stocks Over China Amid Consumer Spending Gains Aberdeen Asset Management Co. said it favors India’s stocks over China as increased consumer spending boosts corporate earnings in the South Asian nation and excess capacity hurts Chinese manufacturers.
 
Bharat Petroleum to Partly Shut Mumbai Refinery in October for Maintenance Bharat Petroleum Corp., India’s second-biggest state refiner, plans to partially shut its largest oil refinery in Mumbai in October for maintenance.
 
Raw Sugar Deficit to Support Prices Above 30 Cents a Pound, Simbhaoli Says The global sugar deficit will continue through to next season, keeping prices at more than 30 cents a pound this year, one of India’s biggest millers said.
 
Sensitive Index Falls; NTPC Shares Lead Retreat on Government Share Sale Indian stocks declined, led by NTPC Ltd., as investors withdrew funds ahead of the government starting to sell shares in the state-owned company tomorrow.
 
ArcelorMittal Raises Stake in India's Uttam Galva Steels to 34.42 Percent ArcelorMittal, the world’s largest steelmaker, raised its stake in Indian affiliate Uttam Galva Steels Ltd. to 34.42 percent after completing an open offer.
 
Indian 10-Year Bond Yield Rises to Three-Week High on Borrowing India’s 10-year bonds fell, pushing yields to their highest in three weeks, after central bank Governor Duvvuri Subbarao said government borrowing in the next fiscal year may exceed this year’s record level.
 
Siemens to Double India Annual Spending, Make Wind Turbines to Tap Demand Siemens AG, Germany’s biggest engineering company, plans to double its annual investment in India by making products including wind turbines to tap into demand for cleaner power in Asia’s third-largest economy.
 
India Asks Sugar Mills to Sell Stock on a Weekly Basis to Boost Supplies India’s government asked mills to 
sell the sweetener on a weekly basis this month from fortnightly sales, the Food Ministry said, as it seeks to boost supplies in the world’s top consuming nation.

Volcker to Tell Senate Panel Hedge Funds Should Be Allowed to Profit, Fail Former Federal Reserve 
Chairman Paul Volcker plans to tell the Senate Banking Committee today that hedge funds and private-equity funds should be allowed to both profit and fail, without any expectation of government support.
 
Pending Sales of Existing U.S. Homes Increase 1% Following Record Decline The number of contracts to buy previously owned U.S. homes was little changed in December after a record plunge, indicating a renewed tax credit will take time to revive sales.
 
Stocks in U.S. Advance on Earnings, Home Sales Growth; Lexmark Shares Gain U.S. stocks climbed for a second day after earnings at companies from D.R. Horton Inc. to Lexmark International Inc. topped estimates and a report showed sales of previously owned homes rose in December.
 
Paulson Says U.S. Was `Close' to Financial Collapse, Bailout Unavoidable The U.S. economy came “very close” to collapsing into a second Great Depression and the government had no alternative to bailing out financial firms, former Treasury Secretary Henry Paulson said.
 
Lexmark Climbs the Most in Three Months After Forecast Exceeds Estimates Lexmark International Inc., the second-largest U.S. printer maker, advanced the most in three months in New York trading after forecasting first-quarter profit that beat analysts’ estimates.
 
Soros-Backed Venture Weighs IPO to Fund $700 Million Brazilian Sugar Mill Billionaire George Soros’s Adecoagro venture, which invests in agriculture and renewable energy in Latin America, is considering an initial public offering to help fund projects in Brazil that include a $700 million sugar mill.
 
Top Publishers Will Seek Higher E-Book Prices From Amazon.com, Group Says Amazon.com Inc., the world’s largest Internet retailer, will have to raise prices of more digital books as publishers seek to match an agreement forged with Macmillan, according to the Authors Guild. 

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.