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  #1001 (permalink)  
Old 05-04-2011, 12:03 PM
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Two pay in for 4/5 payou on 7th and today payout of 31/1 exposure problem will remain @ brokers office
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  #1002 (permalink)  
Old 05-04-2011, 01:27 PM
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Originally Posted by mahesh View Post
when a corporate leaves a company,it shows it is hopeless about it's future or unable to manage it.

Tata left as they wanted to concentrate CDMA venture tata tele.
But A Birla leaving shows perceived hopeless future.

I didn't reckon they'd be selling their entire stake But denied by K M Birla himself today. (Having MTN as a strategic partner doesn't seem such a bad idea though MTN in any case doesn't seem to have much of a future on its own )
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  #1003 (permalink)  
Old 05-04-2011, 08:18 PM
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Originally Posted by kkseal View Post
I didn't reckon they'd be selling their entire stake But denied by K M Birla himself today. (Having MTN as a strategic partner doesn't seem such a bad idea though MTN in any case doesn't seem to have much of a future on its own )

Now its cleared, it's not Idea but Axiata(malaysian co.) is trying to sell its stake.
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  #1004 (permalink)  
Old 06-04-2011, 11:09 AM
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Need to look at renewable energy for power needs: Jairam Ramesh

DELHI: India should look at renewable energy to meet its power needs, Environment Minister Jairam Ramesh has said. In a letter to Prime Minister Manmohan Singh last week, Ramesh drew his attention to a World Bank report on renewable energy in India. The report suggests that renewable energy is an important part of the solution to India's power shortage.

The letter gains significance as the coal and power ministries have cited growth targets to push for a more liberal forest clearance system. India has 150 giga watt of potential resources of renewable energy and the cost differential of harnessing these sources, particularly wind, small hydro, and biomass instead of coal-based power is "actually small". As of now, India has harnessed just about 10% of its potential. The possibility of ensuring energy security through a more focused renewable energy policy would question the Coal Ministry's demand to open up larger tracts of forests for mining. It cites a coal requirement of 2 billion tonnes by 2031-32 as projected by the Planning Commission's Integrated Energy Policy to make its case.

It has argued that any effort that adversely impacts coal production would impact the country's economic growth. "As of now there is a surge of growth potential in the country and most of the sectors are on a rising path. Any curtailment on the energy source will ultimately result in the country missing growth opportunities," the Coal Ministry has argued.

Given that India's proven coal reserves would last only another 45 years, it would mean greater reliance on imports. This would make coal generated power more expensive. Increasing the share of renewables in the energy basket would reduce dependence on coal. This would preserve forests and reduce inevitable import dependence. The World Bank study shows that a greater role for renewables in India's energy basket is feasible.

The real possibility that renewable energy offers to address the country's power shortage could dent the 'growth argument' put forward by ministries like coal and power. Besides a push for renewables would come with climate and health benefits, as well as give many under-developed states a shot at improving economic development. Ramesh has suggested that the Planning Commission and the Ministry of Renewable Energy "should initiate a time bound follow-up action" on the World Bank report. The minister's suggestion comes even as the World Bank is considering limiting financing of coal-based power plants.

Renewed Push

World Bank report In a letter to Prime Minister Manmohan Singh last week, Ramesh drew his attention to a World Bank report on renewable energy in India.

Clean energy The possibility of ensuring energy security through a more focused renewable energy policy would question the Coal Ministry's demand to open up larger tracts of forests for mining. Power push Ramesh has suggested that the Planning Commission and the Ministry of Renewable Energy should initiate a time bound follow-up action on the World Bank report.
By this he means wind Energy MY Indowind energy
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  #1005 (permalink)  
Old 06-04-2011, 11:11 AM
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Moody's cuts Portugal, says bailout needed urgently


LISBON: Credit rating agency Moody's cut Portugal's sovereign debt by one notch on Tuesday, saying it believed an incoming government would need to seek financing support from the European Union as a matter of urgency.

The cut in Portugal's long-term rating to Baa1 from A3 still leaves Moody's evaluation of its debt two notches higher than fellow agency Standard and Poor's but a notch below that of Fitch Ratings.

Moody's said the debt was still under negative review, with further downgrades dependent on Lisbon's ability to secure medium-term funding.

"The limited migration of the rating to Baa1 (and not lower) in today's action, reflects Moody's assessment that assistance would be provided by the other members of the euro zone if Portugal needs financing on an expedited basis before it can obtain funds from the European Financial Stability Facility (EFSF)," Moody's said in a statement.

"Moody's believes the new government will likely approach the facility as a matter of urgency."

The euro eased to session lows of around $1.4172 after the downgrade.

Euro zone sources said on Monday that finance ministers will discuss Portugal's options for resolving its debt problems under a caretaker government, including whether it is capable of requesting EU financial aid, at meetings on Friday.

Financial markets are convinced Lisbon will have to follow Greece and Ireland in asking the European Union and International Monetary Fund for a bailout, but the situation has been complicated by the fall of the government in Lisbon.

Caretaker Prime Minister Jose Socrates, who resigned after parliament rejected a fresh round of budget austerity, has made it a point of honour not to accept EU/IMF help and the country may remain in limbo until an election set for June 5.

"I am committed to the idea of defending Portugal from external aid ... I will do everything to defend Portugal from this scenario," Socrates told RTP television late on Monday.

While Portugal can probably go on funding itself for the next eight weeks -- it has to refinance 4.3 billion euros ($6.1 billion) of debt in April and 4.9 billion in June -- the cost of doing so is likely to go on being punitively high.
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  #1006 (permalink)  
Old 06-04-2011, 11:13 AM
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Government likely to clear Cairn-Vedanta deal soon

DELHI: The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh is likely to clear London-listed mining group Vedanta Resources' USD 9.6 billion acquisition of Cairn India tomorrow after overruling the law ministry's opinion on state-owned ONGC's rights.

"The Cabinet Committee on Economic Affairs (CCEA) has been scheduled for tomorrow afternoon...in all likelihood, it will give an in-principal approval to the Cairn-Vedanta deal," an official privy to the development said.

The Cabinet panel, which will besides Prime Minister, includes Finance Minister Pranab Mukherjee, Home Minister P Chidambaram, Oil Minister S Jaipal Reddy, Environment Minister Jairam Ramesh, Law Minister M Veerappa Moily and Corporate Affairs Minister Murli Deora, may overrule opinion of the Solicitor General of India that Vedanta must agree to equitably share royalty on oil produced from Cairn India's mainstay Rajasthan oilfields before the government nod.

"The pre-condition will be overruled by arguing that the government's take from Rajasthan oilfields will be impacted if Rs 18,000 crore royalty ONGC will pay in excess of its share in the oilfields is cost recovered from revenues," the official said. "The government revenues will be dented by USD 1 billion."

Incidentally, the government is committed to reimbursing in full the royalty ONGC pays in excess of its 30 per cent share in Rajasthan oilfields in case it is not cost recovered.

Oil and Natural Gas Corp (ONGC) had in July 2010, more than a month before Edinburgh-based Cairn Energy announced sale of majority stake in its Indian unit to Vedanta, cited provisions in the field contracts to say royalty, like any other levy, is cost recoverable.

Cairn India, which holds 70 per cent stake in the 6.5 billion barrels Rajasthan block, does not pay any royalty and is opposed to making it cost recoverable as it will dent its profits.

Besides opposing cost recovery of royalty, Cairn Energy has maintained that its stake sale to Vedanta does not require the government nod and had through its Indian unit made a conditional application in November-end on insistence of the oil ministry. The application also rejected rights of ONGC, which has stake in eight out of 10 properties of Cairn India.

The official said CCEA may ask Cairn to seek ONGC's no-objection.

Oil Ministry's Cabinet note lists royalty being made cost-recoverable as a pre-condition for approval as an option. Alternatively, it has suggested that the government gives its consent to the deal without any pre-condition and "appropriate decision" will be taken to enforce ONGC's right.
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  #1007 (permalink)  
Old 07-04-2011, 10:52 AM
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Support Anna Hazaare for Lok pal BILL


Concern over Anna Hazare's health as fast enters third day - Yahoo! News
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  #1008 (permalink)  
Old 07-04-2011, 10:55 AM
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Hazare writes to PM, asks him to show courage on Lokpal issue - Yahoo! News



First Victim of Anna

Relieve me from all GoMs, says Pawar - Yahoo! News
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  #1009 (permalink)  
Old 07-04-2011, 12:03 PM
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coal moil b f utilites applo hospital roumours to include in fno list .. its nothing but roumours .. but moil doubftull as need 6 motnhs clear ..
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  #1010 (permalink)  
Old 07-04-2011, 12:13 PM
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ECB to Tread Carefully with Historic Rate Rise
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