Exit Polls: A non-event for market!

The gust of wind pumped by exit poll results failed to move the markets. Market participants are not taking any positions based on exit

Poll results. The wise market men remain on the tenterhooks as to the outcome of election result on May 16. However, the market is expected to see a buying spree on the back of a probable market fall, consequent to election results.

Exit polls conducted by various agencies forecast a highly fractured mandate wherein Left parties fail to emerge as a king maker with a loss of tentative 20-25 seats as compared to 2004 election results. Though waning of Left support base is normally cheered at the street, which refuse to get swayed by exit poll results and does not take a call till the final results.

“Although exit poll results are in the lines with market expectations, it is too premature to take a call from exit polls, which most of the time proves wrong,” said Krish Shanbhag, head - research, Antique Broking.

Exit Poll Results:

	CNN-IBN	Times Now	Star News	UTVi	Headlines Today
UPA	185-205	198	202	195	191
NDA	165-185	183	193	189	180
Third Front	110-130	112	101	113	134
Others	23-83	50	47	46	38

“Moreover, market indices are expected to correct by 10-15 following election results. FIIs are just waiting for that opportunity to take greater exposure in Indian equities as the worst is over.”

Going through the annals of history, one can see that the track record for exit polls is dismal. In 2004, NDTV predicted 165-185 seats against UPA and 260-280 seats against NDA. Results showed, UPA got 218 and NDA - 181.

Said Vinod Sharma, head - research, Anagram Stock Broking, “If you believe like many on the street, that the polls do not tell you the right story, back your conviction by buying calls when the markets fall. At the end of the day, irrespective of whosoever comes, when the international rally seems to be coming to an end, there is little motivation to hang on to stocks.”

source:http://economictimes.indiatimes.com

Myths about Mukesh Ambani's house Antilia

The absurd thing about the house Antilia is it has a staff of 600 for maintenancework. That gives a ratio of 1:100 for people living in the house and those who are paid to take care of it. The six lucky (?) ones are the man himself, his wife, his 3 children and his mother Kokilaben. The family will be movingin from their old home ‘Sea Wind’ which was a 14 floor building at Cuffe Parade.

In fairness, Mukesh Ambani bought the property in 2002. So he has not spent anywhere close to the $1 billion people are now valuing the property at. And it is not just him, plenty of other rich tycoons have indulgedin their residences. Two people who immediately come to mind are Mittal & Gates.

Source:http://aavaas.com/2007/11/04/mukesh-ambanis-new-house-anthill/

Tatas reputed than Google, MS: survey

They may not be as big as their global peers in terms of revenue and profits, but Indian companies are top of the lot in terms of their reputation, as per a study that has ranked Tatas as more reputed than the likes of Google, Microsoft, Coca-Cola, GE and Walt Disney.

Noting that the world looks to “corporate India to find trust, admiration and good feeling,” the US-based brand and reputation management consulting firm Reputation Institute has named five Indian firms among the top-50 in its annual list of the world’s most reputed companies.

While the global list has been topped by Italy’s chocolate maker Ferrero, Sweden’s retailer IKEA, and Johnson &Johnson in the US, the Tata group has been ranked 11th.

Among Indian companies, Tatas are followed by SBI (29), Infosys (39), Larsen & Toubro (47) and Maruti Suzuki (49th).

There are 22 other Indian companies on the list of 600 largest companies, ranked in terms of their reputation.

“Corporate India has the best reputed companies. Of the 27 Indian companies ranked among the 600 largest in the world, almost 90% received scores above the global mean, withfive ranking among the Top 50,” the Reputation Institute saidin its annual study for 2009.

Only the US had more number of companies in the top-50 (17 companies), the report noted. In terms of overall presence also, the US had five times the number of companies in the list than India.

The list is made on the basis of admiration, trust and good feeling that consumers have towards a company.

Other Indian companies on the list include—Hindustan Unilever (70th rank), ITC (96), Canara Bank (103), HPCL (112), Indian Oil (113), Wipro (117), Reliance Group (133), Mahindra & Mahindra (138), Bharti Airtel (164), Bank of Baroda (175), BPCL (176) and Punjab National Bank (178).

The report did not clarify whether the Reliance group means the Mukesh Ambani Group or Anil Ambani group of companies. The report revealed that corporate trust is higher in the emerging markets, while companies in industrialised markets are trusted less.

“Proportionally, the largest companies in Brazil, Russia, India and China (Bric) enjoy a stronger emotional connection with consumers than the largest companies in the industrialised world,” it added.

Out of the 289 companies from the US, Japan, the UK, France and Germany, 45% have reputations below the global average, while only 34% of the 142 companies from Bric nations have below-average reputations, with Chinese companies dragging down the...

source: http://www.financialexpress.com/news/Tatas-reputed-than-Google-MS-survey/457115/

Hearing on Anil Ambani's yacht case today

The Bombay High Court on Wednesday adjourned the hearing of petition challenging seizure of a yacht belonging to Ammolite Holdings, an associate company of Anil Dhirubhai Ambani Group.

ADAG's lawyer, senior advocate Aspi Chenoy, sought time for filing reply to customs' affidavit. The yacht, reportedly a gift by ADAG head Anil Ambani to his wife, was purchased by Ammolite Holdings, an associate of ADAG, last October. It has been chartered by Reliance Transport and Travels Ltd, another ADAG company.

In February, customs seized it for alleged duty evasion.

ADAG claims that the Yacht, named `Tian', was not imported into India, but it is a ship with foreign flag which can sail in international as well as Indian waters, so there was no question of paying any import duty.

Division bench of Justices F I Rebello and J H Bhatia will hear the ADAG lawyer on May 8.

source:http://www.hindustantimes.com/

BSE Sensex extends rise, up 50 pct from 2009 low

The BSE Sensex rose more than 6 percent on Monday afternoon, taking gains to over 50 percent from a 2009 low in early March, as strong risk appetite on a brighter outlook for the global economy lifted markets across Asia.

At 1:38 p.m., the 30-share BSE index was up 6 percent at 12,086.97 points, with all stocks gaining.

The 50-share NSE index was up 5.1 percent at 3,652.70.

source:http://in.reuters.com/article/businessNews/idINIndia-39396420090504

Powerless in Delhi: At home, on roads too

If you live in south, central or east Delhi, soaring mercury is not going to be the only worry for you this summer. With BSES, the
discom that serves these areas, failing to meet the rising power demand, people living in these parts of the capital seemingly have no option but to sweat it out through seven to eight hour long power outages everyday.

State power department sources told TOI the situation was not in their control and loadshedding had to be carried out to protect the national grid. "There is little loadshedding in north Delhi colonies as NDPL have arranged for sufficient power to meet summer demand. On the other hand, BSES has not applied for open access on time nor has been proactive in signing power exchange agreements. Most of BSES's tie ups have also not come through on time, and now its customers are suffering long power cuts,'' said a senior official.

Though, sources said, as the poll day approaches there could be some respite in short run. State power department officials claimed to have tied up for 579MW extra for the capital that would be made available from May 1. "The Central government has allocated 302MW power from Central sector generating stations. Besides, 277MW power has been arranged by discoms through banking arrangement with Maharashtra (63MW), Himachal Pradesh (100MW), Madhya Pradesh (45MW) and Rajasthan (69MW). From Friday, the situation will improve,'' said a spokesperson from Delhi Transco.

BSES, meanwhile, claimed it had made adequate tie-ups for the summer. It blamed "Grid situation'' for the power outages and said that it could not be hold responsible for failing to keep up with the rising power demand. "During the last few days, Delhiites have been facing some inconvenience on account of intermittent and unplanned outages. It is important to mention that these outages took place despite BSES making more than adequate arrangements to meet the power demand for the summer. Outages are taking place due to low frequency, massive overdrawal and technical faults with plants,'' said a BSES spokesperson.

Power demand has been rising sharply in Delhi and the peak load on Wednesday, 3681 MW, was the highest for this season. Experts expect demand to reach around 4,500 MW this summer. They said the only way Delhi could avoid outages was to achieve self-sufficiency in power generation. The state government has promised to get it by 2010 with three big power projects on their way in time for the Commonwealth Games.

In colonies fed by BSES Rajdhani and BSES Yamuna, the shortfall in demand was around 300MW. South Extension, Jungpura, Shivalik, Patparganj, Mayur Vihar, Vasundhara Enclave, RK Puram reported at least six to eight hour long outages. "When there was no power for over two hours, I called up discom helpline but was put on hold for over 20 minutes. It was ridiculous. We feel so helpless every summer and nothing ever changes,'' said an angry resident in Mayur Vihar.
source: http://timesofindia.indiatimes.com/Delhi/Powerless-in-Delhi-At-home-on-roads-too/articleshow/4469132.cms