Kannur News

2012-07-13T04:07:00.003-07:00

KURUMATHUR

കണ്ണൂര്‍ ജില്ലയില്‍, തളിപ്പറമ്പ് താലൂക്കില്‍, തളിപ്പറമ്പ് ബ്ളോക്കിലാണ് കുറുമാത്തൂര്‍ ഗ്രാമപഞ്ചായത്ത് സ്ഥിതി ചെയ്യുന്നത്. കുറുമാത്തൂര്‍, പന്നിയൂര്‍ എന്നീ വില്ലേജുകളിലായി വ്യാപിച്ചുകിടക്കുന്ന കുറുമാത്തൂര്‍ ഗ്രാമപഞ്ചായത്തിനു 50.79 ചതുരശ്ര കിലോമീറ്റര്‍ വിസ്തീര്‍ണ്ണമുണ്ട്. 17 വാര്‍ഡുകളുള്ള ഈ പഞ്ചായത്തിന്റെ അതിരുകള്‍ വടക്കുഭാഗത്ത് ചപ്പാരപ്പടവ്, ചെങ്ങളായി പഞ്ചായത്തുകളും, കിഴക്കുഭാഗത്ത് ചെങ്ങളായി, മയ്യില്‍ പഞ്ചായത്തുകളും, തെക്കുഭാഗത്ത് മയ്യില്‍ പഞ്ചായത്തും, തളിപ്പറമ്പ് മുനിസിപ്പാലിറ്റിയും, പടിഞ്ഞാറുഭാഗത്ത് തളിപ്പറമ്പ് മുനിസിപ്പാലിറ്റിയും, പരിയാരം, ചപ്പാരപ്പടവ് പഞ്ചായത്തുകളുമാണ്.

ജനസംഖ്യ	:	22391
പുരുഷന്‍മാര്‍	:	10958
സ്ത്രീകള്‍	:	11433

2012-07-13T03:59:00.000-07:00

IRIKKUR

ചരിത്രത്താളുകളില്‍, പഴയ മദിരാശി സംസ്ഥാനത്തിന്റെ ഭാഗമായിരുന്ന മലബാര്‍ ജില്ലയില്‍, ചിറക്കല്‍ താലൂക്കില്‍, ഇരിക്കൂര്‍ എന്ന കൊച്ചുപട്ടണം ഉണ്ടായിരുന്നതായി കാണാന്‍ കഴിയും. പില്‍ക്കാലത്ത് അത് കേരളസംസ്ഥാനത്തിലെ കണ്ണൂര്‍ ജില്ലയില്‍ തളിപ്പറമ്പ് താലൂക്കിന്റെ അവിഭാജ്യഘടകമായി മാറി. ഒരു കാലത്ത് കോട്ടയം താലൂക്കിനെയും ചിറക്കല്‍ താലൂക്കിനെയും ഭൂമിശാസ്ത്രപരമായി വേര്‍തിരിച്ചിരുന്നത് ഇന്നത്തെ ഇരിക്കൂര്‍ പഞ്ചായത്തായിരുന്നു. വളപട്ടണം നദിയുടെ ഇരുകരയിലും താമസിക്കുന്നവര്‍ എന്ന അര്‍ത്ഥത്തില്‍ ഇരുകരക്കാര്‍ എന്നും, പിന്നീട് ഇരുകര ഊരുകാര്‍ എന്നും കാലക്രമേണ വായ്മൊഴിയുടെ താളലയത്തിനനുസരിച്ച് പ്രസ്തുത പ്രയോഗങ്ങള്‍ ലോപിച്ച് ഇരിക്കൂറായി മാറിയെന്നുമാണ് പറയപ്പെടുന്നത്. എ.ഡി.1323-നു മുമ്പുതന്നെ ഇരിക്കൂര്‍ ചരിത്രത്താളുകളില്‍ സ്ഥാനം പിടിച്ചിരുന്നുവെന്നതിന്റെ തെളിവാണ് നിലാമുറ്റത്തിനടുത്ത് കാണപ്പെടുന്ന ശിലാലിഖിതങ്ങള്‍. മലയോരമേഖലയിലെ അതിപുരാതനമായ ഏറ്റവും പ്രധാനപ്പെട്ട ഒരു വ്യവസായ കേന്ദ്രമായിരുന്നു ഇരിക്കൂര്‍. ജലഗതാഗതസൌകര്യം ഉണ്ടായിരുന്നതിനാല്‍ വ്യാപാരാഭിവൃദ്ധിക്കും സമൃദ്ധിക്കും കാരണമായി. വളപട്ടണം പുഴ ഇതുവഴി ഒഴുകുന്നതിനാല്‍ വളപട്ടണത്തുള്ള വിശ്വോത്തരമായ തടിവ്യവസായത്തെ വളര്‍ത്തിയെടുക്കാന്‍ ഈ പ്രദേശത്തുള്ളവരുടെ കഠിനാധ്വാനവും കച്ചവട മനോഭാവവും സഹായിച്ചു എന്നുള്ളത് ഒരു ചരിത്രസത്യമാണ്.

ജനസംഖ്യ	:	11879 (2001 Census)
പുരുഷന്‍മാര്‍	:	6179
സ്ത്രീകള്‍	:	5700

2012-06-20T04:39:00.004-07:00

ERUVATTY

Pinarayi Panchayat is divided into two villages Eruvatty and Pinarayi.

Pinarayi consists of 15 wards and almost all wards contain one or more primary schools. Totally seven Muslim mosques and forty three Hindu temples are located in this Panchayat.

There are several beautiful tourist centers in and around pinarayi. Muzhappilagad, the only drive-in beach in kerala, Dharmadam Island, Payyambalam beach, Thalassery fort, Kannur fort etc not far away from pinarayi. Besides several theyyam kavus(Temples) adorn this beautiful place. All these make pinarayi one of the most attractive tourist centers of kerala.

ചരിത്രം

സാമൂഹ്യസാംസ്കാരികചരിത്രം

പിണറായി എന്ന സ്ഥലനാമത്തെപ്പറ്റി അവ്യക്തമായ ചില ഐതിഹ്യങ്ങള്‍ പറഞ്ഞുകേള്‍ക്കുന്നു. നൂറ്റാണ്ടുകള്‍ക്ക് മുമ്പ് കോട്ടയം, കോലത്തുനാട് എന്നിവിടങ്ങളിലെ നാട്ടുരാജാക്കന്മാര്‍ തമ്മിലുണ്ടായ വഴക്ക്, പരശ്ശതം യോദ്ധാക്കളുടെ ജീവനപഹരിച്ച ഘോരയുദ്ധമായി പരിണമിച്ചുവെന്നും ആ യുദ്ധരംഗത്ത് യോദ്ധാക്കള്‍ കൊല്ലപ്പെട്ട് പിണമായി (ശവമായി) തീര്‍ന്ന ദേശം പിന്നീട് പിണറായി എന്നറിയപ്പെട്ടുവെന്ന് ഒരൈതീഹ്യം കേള്‍ക്കുന്നുണ്ട്. ഈ ഗ്രാമത്തില്‍ ഉള്‍പ്പെട്ട ഭൂരിഭാഗം പ്രദേശങ്ങളും മേലൂര്‍ ദേവസ്വം, പെരളശ്ശേരി ദേവസ്വം എന്നിങ്ങനെ വിവിധ ദേവസ്വങ്ങളുടെയും, കോട്ടയം ഭരണാധികാരികളുടേയും അധീനതയിലായിരുന്നു. കൂടാതെ വൈരീഘാതകന്‍ ക്ഷേത്രം, കായക്കൂല്‍ കുടുംബം തുടങ്ങിയവര്‍ക്കും ധാരാളം ഭൂസ്വത്തുക്കളുണ്ടായിരുന്നു. കോട്ടയം ഭരണാധിപനു, പിണറായി കായക്കൂല്‍കാരുമായി ബന്ധമുണ്ടായിരുന്നുവെന്നതിന് തെളിവുകളുണ്ട്. കൂടാതെ കോട്ടയം തമ്പുരാന്റെ വാരം, പാട്ടം എന്നിവ സൂക്ഷിക്കാന്‍ ഓലയമ്പലം ബസാറിന്റെ പിന്‍ഭാഗത്ത് കൂലോത്തുംമൊട്ടയില്‍ ഒരു കേന്ദ്രവുമുണ്ടായിരുന്നു. അവിടം കോട്ടയം രാജാവ് ഇടയ്ക്കിടെ സന്ദര്‍ശിച്ചു തങ്ങിയിരുന്നതിനു തെളിവുകളേകുന്ന അവശിഷ്ടങ്ങള്‍ ഇപ്പോഴും ദൃശ്യമാണ്. പരമ്പരാഗതമായി കാര്‍ഷികമേഖലയായിരുന്ന ഈ ഗ്രാമത്തില്‍, നൂറുക്കണക്കിനു ഹെക്ടര്‍ വിസ്തീര്‍ണ്ണമുണ്ടായിരുന്ന വിശാലമായ പിണറായി വയല്‍ പില്‍ക്കാലത്ത് മണ്ണിട്ടു നികത്തി പറമ്പുകളാക്കി മാറ്റിയതിനാല്‍, വിസ്തൃമായ ആ വയല്‍പരപ്പ് ഇന്ന് വെറും ഓര്‍മ്മയായി മാറിക്കഴിഞ്ഞു. തെങ്ങുകൃഷിയിലും നാളികേര ഉല്‍പാദനത്തിലും മാത്രമല്ല, കള്ളുചെത്തു വ്യവസായത്തിലും ഈ ഗ്രാമം പ്രസിദ്ധമായിരുന്നു. കണ്ണൂര്‍ ജില്ലയില്‍ ഏറ്റവും രുചികരമായ ചക്ക ഉല്‍പാദിപ്പിച്ചിരുന്നതു പിണറായിയിലായിരുന്നു. കോട്ടയം അങ്ങാടിയിലേക്ക് ശര്‍ക്കര വില്‍ക്കാന്‍ പോകുന്ന മധ്യവയസ്സ്ക്കരായ സ്ത്രീകളുടെ നീണ്ടനിര ഒരു പതിവുകാഴ്ചയായിരുന്നുവത്രെ. 1930-കളില്‍ ഇവിടെ സജീവമായിത്തീര്‍ന്ന ദേശീയപ്രസ്ഥാനത്തോടൊപ്പം കര്‍ഷക, അധ്യാപക പ്രസ്ഥാനങ്ങളും തോളോടു തോളുരുമ്മിയാണ് വളര്‍ച്ച പ്രാപിച്ചതെന്നു കാണാം. ദേശീയപ്രസ്ഥാനത്തിന്റെ ഭാഗമായി 1930-ല്‍ വിദേശവസ്ത്ര ബഹിഷ്കരണം അരങ്ങേറി. ഗ്രാമത്തെ ഇളക്കി മറിച്ച ഈ സമരത്തിന് നേതൃത്വം നല്‍കിയത് യശ്ശ:ശരീരനായ എ.കെ.ജിയും മറ്റു പ്രമുഖ നേതാക്കന്മാരുമായിരുന്നു. അയിത്തത്തിനെതിരേയും വഴി നടക്കാനുള്ള സ്വാതന്ത്ര്യത്തിനുവേണ്ടിയും കര്‍ഷകസംഘത്തിന്റെ ആഭിമുഖ്യത്തില്‍ ഇവിടെ സമരങ്ങള്‍ അരങ്ങേറിയിട്ടുണ്ട്. 1938-ല്‍ കൃഷിക്കാരുടെമേല്‍ അടിച്ചേല്‍പ്പിക്കപ്പെട്ടിരുന്ന വാരം, പാട്ടം എന്നിവ കുറയ്ക്കണമെന്നാവശ്യപ്പെട്ട്, കോട്ടയം രാജാവിന്റെ കോവിലകത്തേക്ക് നടത്തിയ കര്‍ഷകജാഥ പിണറായിലെ വര്‍ഗ്ഗസമരചരിത്രത്തിലെ ഉജ്ജ്വലമായൊരധ്യായമാണ്. ജന്മിത്തത്തിനെതിരെയുള്ള ജനമുന്നറ്റത്തിന്റെ ഉത്തമ ദൃഷ്ടാന്തമായിരുന്നു ഈ സമരം. 1939-ല്‍ കേരളത്തിലെ കമ്മ്യൂണിസ്റ്റ് പ്രസ്ഥാനത്തിന് രൂപം കൊടുത്തുകൊണ്ട് പിണറായിയിലെ പാറപ്രം എന്ന സ്ഥലത്ത് നടന്ന സമ്മേളനം ഈ ഗ്രാമചരിത്രത്തിലെ ഒരു നാഴികക്കല്ലായി വിശേഷിപ്പിക്കാം.

2012-03-17T02:40:00.002-07:00

KEEZHARNELLI

2012-03-17T02:17:00.000-07:00

garbage disposal

The Kannur municipality and the residents of Chelora agitating against the waste dump continue to be on a collision course.

The action council spearheading the agitation refuses to budge, even after a meeting convened by Chief Minister Oommen Chandy at the capital city to end the standoff.

The action council has declined to accept the government’s plea to give it six months’ time to solve the garbage disposal issue in the State

2010-04-05T04:24:00.001-07:00

SENSEX AT HIGH

2010-04-05T04:14:00.000-07:00

Across the board buying activity saw indices end near day’s highs Monday. The upmove was led by gains in realty, auto and oil&gas space while the IT stocks bucked the trend.
National Stock Exchange’s Nifty closed at 5369.75, up 79.25 points or 1.50 per cent. The index touched a high of 5377.55 and low of 5291.40.
Bombay Stock Exchange’s Sensex ended at 17933.94, up 241.32 points or 1.36 per cent. The 30-share index hit a high of 17948.54 and low of 17693.66.

BSE Midcap Index moved up 1.49 per cent and BSE Smallcap Index advanced 2 per cent.
Amongst the sectoral indices, BSE Realty Index advanced 3.13 per cent, BSE Auto Index moved 2.23 per cent up and BSE Oil&gas Index inclined 2.07 per cent.
Biggest Nifty gainers were Hero Honda (5.85%), Reliance Infrastructure (5.42%), Bharti Airtel (4.83%), DLF (4.2%) and ICICI Bank (3.4%).

(Economic Times dt. 5 April 2010)

MANY ANALYSITS ARE BULLISH ON THESE STOCKS. BE CAUTIOUS WHILE
PURCHASING THESE STOCKS
BUY ON DIPS AND SELL ON TOP

Andhra Bank is a PSU Bank with high Assets quality.
Many Analysts are recomending the stock with a target of Rs.130/Share

Rane Brakes is small auto component maker.
Investors may use declines to BUY for a target of Rs.140/Share.

M&M is India’s largest SUV and Tractor maker.
It has succeeded well in non-Automotive businesses also.
company specific bearish sentiments can be utilized to enter the scrip

Jaiprakash Associates is among the largest Cement maker in India. It is also expanding its power, infrastructure, and reality business
Buy on dips near Rs.140, for midterm target of Rs.170.

MARKET DOWN

2010-01-22T22:06:00.000-08:00

STOCKS CRASH

The downtrend on the Indian bourses is likely to continue next week, weighed down weakness in the global stock markets. Also, traders will have the January F&O expiry on mind Thursday followed by the RBI policy review on Friday. Furthermore, it will be a short trading week as markets will be shut Tuesday for Republic Day celebrations.

US President Barack Obama’s move to limit the size and trading activities of financial institutions to check risk-taking and prevent another financial crisis saw global markets take a beating Friday. His proposals would ban banks from running proprietary trading operations and sponsoring hedge funds and private equity funds.

The effects were felt back home as equities declined sharply around noon, but the indices recovered smartly after Reliance Industries reported third quarter results which surprised market participants.

India’s largest private refiner posted a 14.5 per cent rise in net profit for the quarter ended Dec 31, 2009. RIL reported a net profit of Rs 4,008 crore, up 14.48 per cent from Rs 3,501 crore in the corresponding period a year ago. Net sales stood at Rs 56,856 crore for the quarter ended on Dec 31, 2009 against Rs 31,563 crore in the same quarter last year. Gross refining margin was at $5.9 per barrel. The company’s Q3 petrochemical revenues rose 17 per cent while Q3 refining revenues soared 143 per cent.

The index heavyweight lifted the Bombay Stock Exchange’s Sensex off lows to end at 16,859.68, down 191.46 points or 1.12 per cent from the previous day’s close. Week on week, the 30-share index lost 694.62 points or 3.96 per cent from 17,554.30 on Jan 15.

National Stock Exchange’s Nifty settled at 5036, down 58.15 points or 1.14 per cent but off the day’s low of 4954.85. The 50-share index lost 216.2 points or 4.11 per cent from the previous week’s close of 5252.20.
Economic Times dt. 22 Jan 2010

MARKET ANALYSIS BY EMINENT BROCKING EXPERTS

Market dropped significantly after a disappointing set of numbers from L&T. Other heavyweights

like ICICI too failed to positively surprise the markets, aggravating the position further. RIL also

saw some unwinding before the results and combination of these factors saw markets declining by

more than 2%, the first such drop in last two months. Volumes were significantly higher than the

last 10 days average. Overall breadth too deteriorated as the day progressed as negative sentiments

spread to the small and mid caps. Nifty closed significantly lower than the immediate support levels

of 5160-70 and that has threatened the current up trend again. Immediate reversal above 5200 is

required to completely thwart this bearish bias but the ferocity (in relative terms as Nifty was going

nowhere in past 2 weeks) and the magnitude of the fall makes this highly unlikely. Now, Nifty has

significant support at around 4975 both on weekly as well as daily chart. Violation of this as well as

drop below 4950 would significantly dent the probability of sustaining almost 9 months old rally.

As of now probability of Nifty finding support around or above 4970 is high as this may turn out to

be yet another one and one and a half day kind of correction. So, two significant levels to watch out

for are 4970-80 on the downside and 5180-5200 on the upside. It is expecting laggards like

JSPL, HDFC, Maruti, ICICI and SBI to sustain indices at higher levels but apart from Maruti and

JSPL none of the other heavyweights have shown such tendencies. In fact HDFC has broken below

the strong support at 2490-2500. Overall, the market seems to be at cross roads and things would

get clear in a day or two.

Nifty has immediate support around 5050-60 and strong and significant one is seen between 4960-85 while

resistance is around 5160-75.

2009-12-02T02:45:00.000-08:00

------------------------------------------------------------------------------------------------------------

Gold prices surge to Rs 18,400 in opening trade

Gold prices ontoday touched a new peak at Rs 18,400 per ten gram in the national capital gaining Rs 430 in the opening trade

Gold gained Rs 430 to trade at Rs 18,400 per ten gram in the first few minutes of trading as jewellery fabricators indulged in creating fresh positions following a constant raise in its prices at overseas front.

The precious metal, which normally move in tandem with international trend, remained on an uptrend and set record high levels in each session

-----------------------------------------------------------------------------------------------------------

2009-11-27T03:45:00.000-08:00

Nifty closes near 4950; IT, capital goods down

World stock markets tumbled on Thursday as investors fretted over the debt problems at Dubai World, a government investment company

Markets are usually relatively quiet when Wall Street is closed for a holiday, as it is Thursday for Thanksgiving Day. Not so today, as the rest of the world digested the stunning news from Dubai that the government's flagship investment company was in financial trouble.

National Stock Exchange’s Nifty ended at 4942.40, down 63.15 points or 1.26 per cent. The index touched an intraday low of 4806.70 and high of 5005.05.

Bombay Stock Exchange’s Sensex closed at 16,647, down 207.93 points or 1.23 per cent. The 30-share index hit a low of 16210.44 and high of 16718.80.

BSE Midcap Index was down 1.31 per cent and BSE Smallcap Index declined 2.12 per cent.

Amongst the sectoral indices, BSE IT Index was down 2.38 per cent, BSE Capital Goods Index fell 1.71 per cent and BSE Metals Index slipped 1.44 per cent.

Nifty gainers comprised Suzlon (7.32%), Ranbaxy Laboratories (2.87%), Unitech (2.59%), BPCL (2.22%) and GAIL (1.17%).

Among Nifty losers, Siemens (-5.65%), IDFC (-4.06%), Axis Bank (-3.42%), Ambuja Cements (-2.99%) and JP Associates (-2.87%) were the worst hit.

Market breadth on BSE was extremely negative with 2003 declines against 740 advances.

2009-11-23T03:16:00.000-08:00

Sensex moves higher; Oil & gas, FMCG up

Indian markets held on firmly to early morning gains Monday led by gains in oil&gas and index major Reliance Industries. Most sectoral indices were in the green with an exception to IT space which remained subdued. “If Nifty maintains above 5080 for some days then it’s quite clear that Nifty is headed towards the 5200-5350 in coming days. Support for the Nifty is placed at 4940-4870 and unless Nifty breaks this support area then we don’t see any threat to this current uptrend,” said Nirmal Bang report. At 12:22 pm, Bombay Stock Exchange’s Sensex was at 17,162.06, up 140.21 points or 0.82 per cent. The index touched an intraday high of 17180.68 and low of 17045.02. National Stock Exchange’s Nifty was at 5099.20, up 46.75 points or 0.93 per cent. The broader index retreated after touching intraday high of 5104.55. It touched a low of 5052.10 in trade so far. BSE Midcap Index was up 0.49 per cent and BSE Smallcap Index moved up 1.06 per cent. Amongst the sectoral indices, BSE Oil&gas Index jumped 2.46 per cent, BSE FMCG Index moved 1.44 per cent higher and BSE Healthcare Index gained 0.83 per cent. BSE IT Index was down 0.26 per cent. Shares of Reliance Industries were reacting to the company’s offer for ല്യോന്ടെല്ല്‍ബസേല്‍

(EconomicTimes )

2009-11-20T23:58:00.000-08:00

India will be the third largest economy in the world
Top 10 challenges for India World's most admired countries World's top 20 countries to liveforeign-policy think tank has said. An article "The G20 in 2050", carried in November bulletin of the Carnegie Endowment for International Peace said, "China, India, and the United States will emerge as the world's three largest economies in 2050. Their total GDP, in real US dollar terms, will be over 70% more than that of the other G20 countries combined." Other main findings include, China will become the world's largest economy in 2032, and grow to be 20% larger than the United States by 2050. Over the next forty years, nearly 60% of G20 economic growth will come from Brazil, China, India, Russia, and Mexico alone. The article was written by Uri Dadush and Bennett Stancil. A Frenchman and former director of World Bank, Dadush is the director of the International Economics Programme .

2009-11-05T03:33:00.000-08:00

The market saw an extremely volatile session today and closed at the high point of the day. After a disastrous start, post the home minister's disinvestment comments and government's rejig on the direct tax code saw the market recover. The short covering rally today was led by realty, metal and IT stocks. Sensex shut shop at 16063, up 151 points and Nifty at 4765, up 54 points from the previous close. CNX Midcap index was up 2.10% and BSE Smallcap index was up 1.91%. The market breadth was positive with advances at 948 against declines of 310 on the NSE. Top Nifty gainers included Suzlon, Reliance Capital and GAIL while losers were Ambuja Cement, ACC and ITC.

2009-10-29T03:46:00.000-07:00

Sensex ends over 200 points lower; realty, metals drag
Equities ended volatile session in deep red on the settlement day of October F&O series.
Realty, metals and power led the fall while
and pharma stocks showed some strength.
Bombay Stock Exchange’s Sensex closed at 16052, down 230.90 points or 1.42 per cent. The index touched a high of 16264.09 and low of 15993.83 during the day. National Stock Exchange’s Nifty ended at 4749.70, down 76.45 points or 1.58 per cent. The broader index hit a low of 4738.40 and high of 4826.10.
BSE Midcap Index was down 2.09 per cent and BSE Smallcap Index was 1.35 per cent lower. Amongst the sectoral indices, BSE Realty Index was down 6.33 per cent, BSE Metal Index fell 2.61 per cent and BSE Power Index slipped 2.27 per cent.
BSE FMCG Index was up 0.50 per cent and BSE Healthcare Index gained 0.26 per cent. Sensex gainers were Mahindra & Mahindra (3.62%), ONGC (1.61%), Sun Pharmaceuticals (1.47%), Hindustan Unilever (0.83%) and HDFC (0.82%). DLF (-7.33%), Reliance Communications (-7.09%), Jaiprakash Associates (-4.52%), ICICI Bank (-4.07%) and BHEL (-3.64%) ended with losses.
Market breadth was negative on the BSE with 1860 declines and 818 advances.

( Economic Times)

2009-10-23T22:06:00.000-07:00

SEBI permits extension of trading by 2-1/2 hours a day

Indian stock market will soon witness longer hours and higher volumes. In a move that will give investors more flexibility but make life in
the dealing room and back-office far more demanding, capital market regulator SEBI has permitted stock exchanges to begin the day as early as 9 AM and keep the market open for trading till 5 PM. Currently, trading in stocks and equity derivatives take place between 9:55 AM and 3:30 PM. While the exchanges are yet to fix the timings, the decision to align the timings of the stock markets with other financial markets like currency, bonds and call money may boost volumes in stocks and equity derivatives. More interestingly, if the local market opens at 9 AM, it may drive a slice of the trading volume from Singapore, where the Nifty futures are traded, to India. Since operators shorting a stock often use the shallower Singapore market to drag down the scrip in India, an early opening will lower the scope of such manipulations. A senior NSE official told ET that the exchange is likely to extend the trading hours 'soon'. "The exchange is conducting a review to ensure that systems are compliant with SEBI requirements. We do not anticipate any issues in starting soon," the official said. A BSE spokesperson said the exchange welcomes the SEBI directive on extension of trading hours, though he declined to comment on when it plans to implement it. ET had first reported about SEBI's intention to allow extended trading hours in its edition dated December 12, 2008. Brokers said institutional investors will benefit from the advancing of trading time in the morning, while day traders will have more time to react to European markets. Also, retail investors are likely to get more time to track their portfolio and even book trades after finishing their regular work. However, analysts tracking corporate developments may have to wait longer, as most companies make market sensitive after trading hours. "Given the fact that volumes have been increasing on SGX (Singapore Exchange) where the Nifty is traded, this was anticipated and is a positive move," said Rashesh Shah, CMD, Edelweiss Capital. The origin of the proposal to extend trading hours has its roots in an increased interest among FIIs and overseas arbitrageurs in Singapore Nifty futures. Nifty futures on the Singapore Exchange are available to global investors at least a couple of hours before trading starts in Indian markets. This has resulted in overseas investors gaining an upper hand over local investors, who do not have access to Singapore Exchange, to react to global events and volumes shifting from NSE's equity derivatives segment to Singapore

( Economic Times )

2009-10-23T21:59:00.000-07:00

SUCCESS IS LIKE YOUR OWN SHADOW.
IF YOU TRY TO CATCH IT U WILL NEVER SUCCEED.
IGNORE IT AND WALK IN YOUR OWN WAY.
IT WILL FOLLOW YOU

2009-10-20T04:14:00.000-07:00

ndia to cut stake in steelmaker SAIL: Report

India's steel ministry has approved a plan to sell shares in state-run Steel Authority of India Ltd (SAIL) to help fund the firm's
expansion and cut the government deficit.

The two-phased sale would be a mix of a government stake sale and an issue of fresh shares by the company, Dow Jones Newswires reported Tuesday, quoting an unidentified senior steel ministry official. "We plan to seek the cabinet's nod for it in over a month's time," the official said.

The report comes as the government considers minority stake sales in various state-run firms, from NTPC, India's biggest thermal power generating company, to miner Manganese Ore India, to raise funds to cut the hefty fiscal deficit.

The stake sale and issue of fresh shares in SAIL, India's largest steel producer by volume, would cut the government's holding to around 68 percent from 85.82 percent.

In the first phase, the government would sell five percent of its shareholding while SAIL will issue an additional five percent equity, the report said. The government plans to sell a total of 10 percent of its holding, while the company is expected to issue additional shares worth 10 percent of the expanded equity base, the official said.

The amount of money to be raised from the share sale would be fixed after cabinet gave its approval, said the official. The timing of the share sale would be announced later.

SAIL plans to raise its annual hot metal production capacity to 23.5 million metric tonnes by the financial year ending March 2012 from the current 14.6 million tonnes.

The steel ministry official said SAIL will use the share sale money to partly fund its expansion.
( Economic Times dt 20 Oct 09 )

2009-10-18T21:52:00.000-07:00

What about this Diwali?

Morgan Stanley forecasts strong earnings growth for Indian Companies.
Companies could post strong earnings growth over the next 12 months, driven by a sharp recovery in industrial growth and rebound in
margins, led by cost-cutting and lower raw material prices, said Morgan Stanley, in a recent note. The investment Bank has raised its Sensex target for December 2010 to 19400 and upgraded the benchmark’s earnings growth estimates. Some of the prominent Market experts believe that
HOTELLEELA, CASTROL, MUNDRAPORT, TATATEA, NTPC, 3IINFO, IGL, GAIL, HINDUNILVR, IFCI
would be bets which look good from 1 year perspective till 2010Diwali.
Accumulate in dips.
Happy Diwali and Happy Investing

2009-10-18T21:48:00.000-07:00

PSUs may be given sell orders soon
19 Oct 2009, 1005 hrs IST, Anto Antony, ET Bureauseries of public offers from state-run firms could hit the market in the next few months if the Cabinet Committee on Economic Affairs
(CCEA) on Monday accepts disinvestment department’s proposal to offload a minimum 10% stake in all such firms, a senior finance ministry official told ET. The PSUs that could see their first public floats include big ones such as Coal India, Bharat Sanchar Nigam, National Aviation Co and Manganese Ore India and medium-sized players such as RITES, Ircon, HLL Lifecare and NBCC. A bullish market sentiment has also encouraged the disinvestment department to draft a schedule for follow-on public offers (FPO) by listed PSUs. According to the plan, at least one IPO or an FPO will hit the market every month for the next nine months. As a result, REC, NTPC, NMDC, Hindustan Copper, MMTC, Engineers India, Sutluj Jal Vidyut Nigam and RITES are expected to tap the market in the six months starting December.

( Economic Times )

2009-10-15T04:59:00.000-07:00

Oil jumps to fresh 1-year high near $76 a barrel
15 Oct 2009
Oil prices reached a fresh one-year high near $76 a barrel on Thursday in Asia on a weaker US dollar and growing investor optimism about
an economic recovery. Benchmark crude for November delivery was up 72 cents to $75.90, the highest since October 2008, by midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $1.03 to settle at $75.18 yesterday. Oil investors have fed off rising stock markets and a falling dollar this week to break out of a $65 to $75 trading range that has held since May. The Dow Jones industrial average rose 1.5 per cent yesterday to above 10,000 for the first time in a year on encouraging earnings reports from Intel Corp and JPMorgan Chase & Co. Most Asian stock indexes gained in early trading. Meanwhile, the euro rose to $1.495 in early Asian trading from $1.4933 the previous day while the dollar gained to 89.46 yen from 89.34. Oil is traded in US dollars and its price tends to rise when the dollar falls.Oil prices reached a fresh one-year high near $76 a barrel on Thursday in Asia on a weaker US dollar and growing investor optimism about
an economic recovery. Benchmark crude for November delivery was up 72 cents to $75.90, the highest since October 2008, by midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $1.03 to settle at $75.18 yesterday. Oil investors have fed off rising stock markets and a falling dollar this week to break out of a $65 to $75 trading range that has held since May. The Dow Jones industrial average rose 1.5 per cent yesterday to above 10,000 for the first time in a year on encouraging earnings reports from Intel Corp and JPMorgan Chase & Co. Most Asian stock indexes gained in early trading. Meanwhile, the euro rose to $1.495 in early Asian trading from $1.4933 the previous day while the dollar gained to 89.46 yen from 89.34. Oil is traded in US dollars and its price tends to rise when the dollar falls. ( Economic Times)

Morgan Stanley lifts India growth view to 6.4 pc

2009-10-15T04:53:00.000-07:00

Morgan Stanley lifts India growth view to 6.4 pc

Morgan Stanley raised India's FY10 growth forecast to 6.4 per cent on a higher-than-expected August industrial output and said if the data
continue to surprise on the upside policy rates could be lifted before end-2009.

Morgan Stanley had previously forecast growth of 5.8 per cent and expected policy rates to be lifted by January 2010.

Morgan Stanley expects the Reserve Bank of India (RBI) to hold rates at its Oct. 27 quarterly monetary policy review, but sees a "more than even" chance of a hike in banks' cash reserve ratio as a tool to sterilise rising capital inflows.

Industrial production rose 10.4 per cent in August from a year earlier, its fastest pace in 22 months, beating the median forecast in a Reuters poll, and July's annual growth was revised up to 7.2 per cent from 6.8 per cent.

Morgan Stanley also lifted its industrial production growth forecast for India to an average 8 per cent year-on-year in fiscal year 2009/10 from 6.4 per cent earlier, and its services sector growth view to 8.4 per cent from 8.1 per cent.

Source : Economic Times dt.15 Oct. 09

2009-09-26T01:37:00.000-07:00

CORPORATE NEWS
BHARATI
In a move that could have implications for the
talks between Bharti and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today
decided to amend the Takeover Code to
mandate an open offer if American Depository
Receipts (ADRs) and Global Depository Receipts
(GDRs) with voting rights cross the prescribed
threshold.
Oil and Natural Gas Corporation (ONGC),
wants to hire an ultra deep-sea drill rig, the
daily cost of which is about Rs 5 crore. This is to
improve exploration in the western offshore
blocks.
After a series of flip-flops, NTPC is likely to
finally sign an agreement with Reliance
Industries Ltd (RIL) this week to buy
government alloted natural gas at an officially
approved price of $4.20 per mBtu.
Cipla will sell about four per cent of its equity to
institutional investors to raise close to $175
million (Rs 840 crore) to fund its capital
expansion plans.
Dewan Housing Finance (DHFL)
has raised Rs 250 crore through private placement of debt
and plans to raise another Rs 500 crore through
private placement of non-convertible debentures
(NCDs) in the current financial year.
Kingfisher Airlines
plans to raise up to 175 million dollars (about Rs 840 crore) before
March next year through rights issue and global
depository receipts (GDR).
Pipavav Shipyard
has fixed the issue price of its initial public offer (IPO) at Rs 58, a little less
than the upper end of its price band.
Gati will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.
In a move that could have implications for the
talks between Bharti and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today
decided to amend the Takeover Code to
mandate an open offer if American Depository
Receipts (ADRs) and Global Depository Receipts
(GDRs) with voting rights cross the prescribed
threshold.
Gati will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.and South Africa's MTN
for a cash-and-share-swap deal, the Securities
and Exchange Board of India (Sebi) today

Gati
will raise a total of over Rs 78.91 crore by
issue of warrants to different promoters and The
Infrastructure Fund of India LLC.

2009-09-26T01:10:00.000-07:00

Prime Minister Manmohan Singh strongly backed Bharti group's efforts
for acquiring stakes in South African telecom gaint MTN when he took up the issue with President Jacob Zuma and hoped that the deal will go through without any "discrimination".
"As far as MTN issue is concerned, I mentioned it to (President) Zuma. I sincerely hope that this deal would go through and there will be no discrimination against it," he told reporters in reply to a question at a press conference in Pittsburgh.
Singh said officials of the two countries would discuss the issue.
Bharti and MTN are looking at an USD 23 billion deal to create the world's third largest mobile firm with over 200 million subscribers. According to the initial agreement, MTN and its shareholders would acquire 36 per cent stake in Bharti and Bharti would acquire 49 per cent stake in MTN.

No economic crisis in India: PM

Prime Minister Manmohan Singh said on Friday that there is no economic crisis in the country. "There is no economic crisis in India. It is certainly true that as a sequel to the global economic crisis our exports have suffered that has affected the rate of growth, but even then our economy is growing at a rate of six and half per cent. Therefore there is no crisis, as such in India," Singh said.
However, the Prime Minister acknowledged that in a highly interdependent world, India has a stake in the stability and growth of the world economy.
"If world economy collapses, there is obviously some effect on our country. Already the rate of our growth of our economy particularly our exports have suffered," he said, adding that this has led to decline in exports of important labour intensive products like gems and jewellery, leather goods textiles.

2009-09-26T00:00:00.000-07:00

Stocks to watch: BHEL, Tech Mahindra, TCS,
Wipro, Jet Airways, Reliance Infra, Lanco
25 Sep 2009, 1005 hrs

Crude oil prices bounced back after sharp fall of over 4 per cent on Friday. US crude for November delivery was up at $66.36 per barrel and
London Brent crude gained to $65.43. The Indian rupee fell Friday on fears of capital outflows from the domestic stock market. At 9:05 a.m., the partially convertible rupee was at 48.23 against its previous close of 47.95. Engineering major Bharat Heavy Electricals Limited has bagged Rs 365 crore order from the Nuclear Power Corporation of India for supply of four steam generators for India's second 700 MWe nuclear power station, being set up at Rajasthan Atomic Power Project, Kota. Tech Mahindra, IBM and TCS are vying for a $400-million (Rs 1,800 crore) IT outsourcing contract from Sistema Shyam Teleservices. Negotiations are on with these companies for a 10-year deal, but the contract will contain a clause that will allow Sistema Shyam to exit after five years. Jet Airways shareholders on Thursday approved the fund-starved airline’s plan to raise up to $400 million, or about Rs 1,920 crore, at an extra-ordinary general meeting as it desperately looks to raise money to avoid loan defaults. The company is burdened with a debt of Rs 16,000 crore. Reliance Infrastructure, Vedanta’s Sterlite Energy and Lanco Infratech have submitted financial bids for Power Finance Corporation’s mega transmission project that aims to evacuate power from the North-East and eastern states to the northern region. The bids for the project, which is estimated to cost Rs 1,800 crore, are likely to be opened on September 29. IT services provider Wipro Technologies on Thursday said it has signed a co-development agreement with Oracle to develop multiple industry solutions. Under this agreement, Wipro and Oracle would co-develop process solutions for five different industries, communication, retail, consumer products, hi-tech and industrial manufacturing, Wipro said in a statement. Punjab & Sind Bank has appointed IT giant Wipro to implement core banking solutions after Satyam’s new promoter Tech Mahindra voluntarily opted out of the contract. In September 2006, the bank had awarded Satyam Computer Services a Rs 135 crore contract.

( Economic Times )

2009-09-25T23:51:00.000-07:00

Morgan Stanley includes Cairn India in its ‘focus’ list

CAIRN INDIA
CMP: RS 261.25
TARGET PRICE: NA
Morgan Stanley has included Cairn India in its ‘focus’ list, saying the stock was a direct play on crude oil prices, which according to the brokerage, are likely to rise. “Cairn India is a direct play on crude oil prices, which our global commodities team believes are likely to rise. Cairn India is a good hedge in our focus list against a sudden spike in oil prices, which can negatively affect the equity market. Cairn has underperformed the market year to date,” said a Morgan Stanley note to client. “Cairn India’s correlation to crude oil prices is among the highest in the region. The company has strong production growth and high reserve potential, and the stock is attractively valued,” the note added.