text:
Total income for the quarter has increased to Rs 4,054.66 crore from Rs 2,977.93 crore in the year-ago period.
Stock exchange News, valuation, Stock picks,bombay stock exchange live, market analysis,stock trading,Stock exchange,stock mutual funds,market analysis,money market,mutual funds, online trading, stock trading, set index,live market,share bazar
Wednesday, October 31, 2007
Canara Bank Q2 net up 11% at Rs 401.55 cr
Religare Enterprises
REL has a majority stake in the special purpose vehicle (SPV) Religare Insurance Holding Company (RIHCL). The 50:50 joint venture (JV) with leading global life insurance and pension company Aegon International NV is to foray into mutual funds. REL has infused about Rs 18.96 crore in RIHCL for a 75.39% stake in this start-up subsidiary.
A JV with Macquarie Bank to expand its wealth management business is set to start subject to necessary approvals. Macquarie will be a 50% shareholder of Religare Wealth Management Services (RWMSL), expected to be renamed Religare Macquarie Wealth. Both the partners have committed to contribute their pro-rata share of the equity capital: 20 lakh shares worth of Rs 20 million. Also, they have agreed not to transfer their shares or any right, title or interest in it for five years.
The objective of the issue is to fuel future growth including expansion of branches of two of its subsidiaries: Religare Securities and Religare Insurance Broking. REL plans to fund the retail finance business as well as expand its financing business through its subsidiaries Religare Finvest and Religare Finance.
- A wide geographic reach, growing clients, and a diversified portfolio of products and services. End September 2007, had six regional offices and 40 sub-regional offices across 392 cities and towns controlling 1,217 business locations (managed with business associates) all over India as well as a representative office in London. Also, has a region-focused entrepreneurial management team leading 6,500 employees.
- Products and service offered under three broad client-interface categories: Retail Spectrum, Wealth Spectrum and Institutional Spectrum. Retail Spectrum offers equity and commodity brokerage, personal financial services, internet trading and personal loans. Wealth Spectrum offers portfolio services (PMS), wealth advisory services and private client services. Institutional Spectrum offers institutional distribution and investment banking services.
- Increasing clients in both equity and commodity trading. Equity clients (including institutional clients) increased from 1,49,000 clients end March 2007 to 2,37,000 clients end September 2007, an increase of 59% over the six months. Also, clients in the commodity service jumped 54%, from 14,955 to 23,000. Online investment accounts surged 189%, from 11,600 to 33,500. Also, market share of trading volume on NSE imoved up from 4.76% to 8.67%.
- The Securities and Exchange Board of India (Sebi) has taken actions (subject to final orders) against Religare Securities for price manipulation in certain scrips.
- The track record of listed group companies Fortis Financial Services and Fortis Healthcare has been far from encouraging.
- Proper execution and supportive economic environment will be necessary to implement the aggressive growth plans across the financial spectrum..
At the offer price band of Rs 160-Rs 185, P/E based on the year ending March 2007 (FY 2007) EPS of Rs 3.3 works to 48.7 (on lower band) to 56.4 (on upper price band) times. P/E of other comparable listed players is: India Bulls Financial Services (27.4 times), Emkay Shares (47 times), India Infoline Financial Services (66.8 times), IL&FS Investsmart (31.2 times) and Geojit Financial Services (35.8 times).
While valuations appear steep based on FY 2007 numbers, they appear cheaper based on the performance for the six months ended September 2007. During this period, the company reported net profit of Rs 36.19 crore on a consolidated basis, which was 46% higher than the profit reported in FY 2007. The annualised EPS on post-IPO equity works out to Rs 9.6. This is discounted 19.4 times by the upper band of issue price of Rs 185 and 16.7 times by the lower band of Rs 160.
US markets rise in anitcipation of Fed rate cut
Another round of earnings provided encouragement that the fallout from the subprime crisis wasn't widespread but analysts worried that rising commodity prices and a sagging dollar would eventually take their toll. The Dow added 0.5% to close at 13,870. The Nasdaq too gained 0.5% to 2,817. Meanwhile the S&P 500 increased 0.4% to 1,541.
Indian ADRs end high; ICICI Bank spurts 6.5%
Indian ADRs ended the day with good gains and on a day when the BSE Sensex crossed the 20,000 mark. In the technology pack, Infosys Technologies was up 3.51% at $ 50.95, Patni Computers was up 0.09% at $ 22.69, Satyam Computers was down 0.37% at $ 29.73, while Wipro ended the day 1.01% higher at $ 16.03.
In the non-technology pack, HDFC Bank was up 5.2% at $ 132.40, VSNL was up 2.96% at $ 31.64, ICICI Bank was up 6.53% at $ 68.86, MTNL was up 5.02% at $ 9.83, Tata Motors was up 2.76% at $ 20.85, Dr Reddy's Lab was up 1.76% at $ 16.20 and Sterlite was up 4.26% at $ 24.99.
Tuesday, October 30, 2007
Watch out for follow-up buying on declines
The market breadth was positive as the combined exchanges advance decline ratio was 2510:1396. The capitalisation of breadth was also positive as the commensurate figures were Rs 24706 cr:Rs 4239 cr.
The F&O data for Thursday indicated a routine paring of exposure on expiry day amidst higher implied volatility.
The 5655 / 5480 range specified for Friday was overcome on the upside after the Nifty managed to stay above the 5555 threshold, advocated as a bullish pivot point for Friday.
The positive market breadth inspires confidence, though the lower traded volumes are a cause for some concern.
The Nifty spot attempted to test the previous high of 5737 and that confirms the "hound of baskerville" pattern advocated more than a week ago in this column. The gateway to the projected target of 6377 on the Nifty over the medium term, is now open.
The coming session must be monitored for signs of follow-up buying on declines, to enable the bulls to maintain their initiative.
The outlook for the markets on Monday is that of continued optimism. The Nifty spot is likely to see a support pivot at 5640. Avoid shorts as of now.
Nifty targets 6000 mark
Almost two weeks prior to October expiry, the RSI diversion had led to correction of almost 2000 points on the Sensex and 700 points with regard to Nifty.
Nifty has a target of 6,100, going by Fibonacci numbers, as it has retraced from 5737 to 5071 and back to 5,707 now. As the Nifty has retraced 636 points from its low and the Fibonacci number after 144 is 1.618, Nifty should rise by 1,030 points from its low of 5071 to a target of 6,100.
The Fibonacci ratios are derived by dividing any number in the series by the next higher number. The ratio after 3 is always 0.625 and after 89, it is always 0.618. If you divide any Fibonacci number by the preceding number, the number is always 1.6 after 2 and 1.618 after 144.
Call options data suggests that upper limit for the Nifty November contracts is between 6050 and 6128, because call option writers have paid a premium of Rs 148 for the strike price of 5,900.
The last week saw long OI build up in stocks such as Axis Bank, Central Bank, CESC, Federal Bank, GE Shipping, HDFC Bank, JP Hydro, JSW Steel and Triveni, with the cost of carry turning negative for Axis Bank and HDFC Bank.
These stocks are likely to outperform in the coming days and hence one should enter at lower levels.
Weekly Tech: Resistance around 20,550
The Sensex finally ended the week at a record 19,243, registering a hefty gain of 9.6 per cent or 1,683 points.
The low of 17,171 was significantly higher then the support level of 17,000 mentioned last week. Now that the markets are back into unchartered territory, it will be difficult to set upside targets.
The positive trend should continue this week. The Sensex is likely to target 20,000 to 21,000 by the year-end. On the downside, the index has a near support at 19,000 and below this, it may drop to 17,870.
The NSE Nifty came quite close to its peak of 5737 as it touched a high of 5717, up 646 points from the week's low of 5071.
The index settled with a gain of 9.3 per cent (487 points) at 5702. The Nifty could face resistance around 5970 before crossing the 6000 mark. It is likely to find significant support around 5400 in case of a downmove.
The Sensex may face resistance around 20,045-20,295-20,550 this week. Support, on the downside, should emerge around 18,440-18,190-17,940. The Nifty, on the other hand, may face resistance around 5950-6025-6100, while on the downside, it is likely to find support around 5455-5380-5300 in the coming week.
Fund Action
SAC Capital Advisors buys 31.5 lakh shares @ Rs 979.5/sh
Morgan Stanley-Mauritius sells 40 lakh shares @ Rs 979.8/sh
Indiabulls Real
JPMSL Copthall Mauritius sells 33.16 lakh shares @ Rs 615.75/sh (1.4% stake)
NIIT Tech
ICICI MF buys 4.44 lakh shares @ Rs 353.76/sh
Prithvi Info Solutions
Deutsche Securities Mauritius sells 1 lakh @ Rs 245.25/sh
Champagne Indage
Lehman Brothers Asia LTD buys 1 lakh shares @ Rs 720/sh
Citigroup Global-Mauritius sells 1 lakh shares @ Rs 720/sh
Deep Industries
Sundaram MF buys 1.15 lakh shares @ Rs 151.35/sh
Mather Pumps
UBS Securities Asia sells 1.73 lakh shares @ Rs 160.2/sh
Bear Sterns sells 48 thousand shares @ Rs 160/sh
Sharyan Reso
UBS Sec Asia sells 1 lakh shares @ Rs 350.6/sh
Shriram Transport Finance - Multibagger
The company has reported an EPS of 18.32 for the whole year 2007-08 based on annualized profits of the first half year. This works out to a P/E ratio of 12.8. We recommend this share with a target price of Rs 360 on a one-year horizon.
Shriram Transport Finance is a Chennai based finance company which has been in existence for over 27 years. It is the leader in financing of pre-owned cars in the country. It commands a huge market share of over 25% with asset size of Rs120bn. It has got a very good expertise in a highly profitable area where knowledge of the market is a key determinant for success.
STFL has reported excellent numbers for the second quarter of 2007-08. It's profits more than doubled to Rs 96 crores on revenue base of Rs 570 crores. The company is also having expansion plans for which it will approach global capital markets.
Unlocking of investments in insurance venture.
The company has reported an EPS of 18.32 for the whole year 2007-08 based on annualized profits of the first half year. This works out to a P/E ratio of 12.8. This is extremely attractive considering the growth in turnover and profits, strong market share and unlocking of opportunities which are available.
We recommend this share with a target price of Rs 360 on a one-year horizon
Monday, October 29, 2007
FII inflow, RBI policy review outcome to dictate trend
According to Citigroup, given the limited headroom available due to the 40% limit on issue of PNs, return to 'regulated' entities rule, and the time it might take for the entities to get FII registration, the new Sebi norms may significantly reduce near term foreign flows. Sebi has proposed an incremental rate of 5% for issue of PNs for FIIs with less than 40%t of assets under custody (AUC) in PNs. Those with over 40% of assets in PNs can issue PNs only against redemptions or cancellations.
Kotak Institutional Equities, in a note, states that it does not expect any major impact of the new policy on the market and it is of the opinion that the market has largely absorbed the changes in PN norms. 'We rule out any major selling in the market and expect a smooth transition to the new regime', it has said in a note to clients adding that while Sebi has banned sub-accounts of FIIs from issuing further PNs, PN issuing sub-accounts FIIs have already started the process of conversion to FIIs. There is no ban on issue of PNs by FIIs though restrictions have been put in place for them. There is a ban of fresh issue of PNs with derivatives as underlying.
Providing a major relief over the issue, Sebi on Monday, 23 October 2007, said sub-accounts which intend to covert into foreign institutional investor status have to sent their letter of intent to the regulator within 24-hours. Sebi later said that all the 20 PN issuing FII sub-accounts have expressed intent to convert into foreign institutional investor (FII) status. There are 34 PN issuing entities in the country, of which some are already FIIs. This number was 14 in March 2004.
FIIs can now issue PNs only to foreign entities which are 'regulated' in their respective jurisdiction and not to those that are merely 'registered' in the jurisdiction as was the norm earlier. This will mean that some hedge funds that are not regulated in their home country will find it difficult to invest in the Indian market. Users of PNs are largely hedge funds, a fast-growing asset class globally in recent years. Nevertheless, such hedge funds can apply for direct registration with Sebi.
Sebi says PNs allow foreigners to make a backdoor entry into the market, and it wants them to register to create greater transparency on inflows. PNs are financial instruments used by foreign investors that are not registered with Sebi, to invest in Indian shares. FIIs and their sub-accounts buy Indian securities and then issue PNs to foreign investors with these securities as the underlying.
Besides some key Q2 September 2007 results, the major events next week are Mid-Term Review of Annual Policy by the Reserve Bank of India on Tuesday, 30 October 2007, and policy meeting of the US Federal Reserve on 31 October 2007. Bank of Japan also holds its policy meeting on 31 October 2007.
Market men see no change in interest rates by RBI in Mid-Term Review of Annual Policy on Tuesday. It remains to be seen whether RBI raises cash reserve ratio so as to suck out excess liquidity in the banking system.
There are hopes that the US Federal Reserve will cut interest rates again at its policy meet on 31 October 2007, given the recent weak US economic data. A further cut in interest rate by Fed, if any, will only add to global liquidity which already remains high. This in turn will ensure that FII inflow in India will continue even as their buying vigour may not be as strong as was recently due to Sebi restrictions on PNs.
Key Q2 September 2007 results next week Maruti Suzuki, Bharat Heavy Electricals, HDFC and Mahindra & Mahindra on Monday, 29 October 2007, ONGC, Steel Authority of India, Tata Power, DLF on Tuesday, 30 October 2007, and Tata Motors on Wednesday, 31 October 2007. On Saturday, 27 October 2007, NTPC, Grasim, State Bank of India will unveil Q2 results.
US markets rally on positive earnings news from Microsoft; Profit estimates from Countrywide
The report from Countrywide that it expects to return to profitability soon, despite a big third-quarter loss, rekindled investor hope that the problems in the housing market are contained and that US consumers still have spending power. Countrywide surged $ 4.23, or 32%, to $ 17.30. Strong report from Microsoft inspired buying throughout the technology sector. Microsoft rose $ 3.04 to $ 35.03, pushing software companies in the S&P 500 to a 4.1% gain, the steepest advance since April 2003.
The S&P 500 climbed 20.88, or 1.4%, to 1,535.28, its steepest advance this month. The Dow Jones Industrial Average gained 134.78, or 1%, to 13,806.7. The Nasdaq Composite Index jumped 53.33, or 1.9%, to 2,804.19.
For the week, the Dow rose 2.11%, the Nasdaq was up 2.90%, and the S&P 500 jumped 2.31%. The gains were welcome after all three indexes posted losses in the previous week.
After spiking above $ 92 a barrel, December crude futures rose $ 1.40 to settle at $ 91.86 a barrel on the New York Mercantile Exchange. Gold futures rose $ 16.50 to close at $ 787.50 an ounce, the highest price since January 1980. Energy, metals and agriculture futures all moved higher.
Indian ADRs flare; ICICI Bank up 11%, HDFC Bank up 10%
The strength in the US markets and the good performance by the Indian stocks made sure that the ADRs had a good close. All of them mamangaed to end in the green. The gainers were led by the banks-ICICI and HDFC, which were up 11% and 10% respectively. VSNL was other major gainer rising 9%.
In the technology pack, Infosys Technologies was up 1.32% at $ 49.22, Patni Computers was up 4.18% at $ 22.67, Satyam Computers was up 6.65% at $ 29.84, while Wipro ended the day 3.19% higher at $ 15.87.
In the non-technology pack, HDFC Bank was up 10.18% at $ 125.85, VSNL was up 8.7% at .73, ICICI Bank was up 11.01% at $ 64.64, MTNL was up 1.74% at $ 9.36, Tata Motors was up 4.05% at $ 20.29, Dr Reddy's Lab was up 0.89% at $ 15.92 and Sterlite was up 7.44% at $ 23.97.
Saturday, October 27, 2007
TVS files Rs 250 Cr suit against Bajaj Auto- DNA Money
Earlier there was trouble between the two auto majors when TVS Motor announced its intent to launch the 125cc Flame, which the Bajajs implied was an infringement of its own twin spark technology. The report goes on to add that Bajaj had stated in the past that it holds the global and Indian patents for the technology for small engines. It also claims to have received necessary patent approvals in July 2005 for its Bajaj-DTSi technology.
The company maintained that the twin spark plug technology was being used by TVS for the same engine size in a bike engine and with the same construction.
TVS, in its turn, retorted that the Flame, a four-stroke, four-geared bike, was fitted with a three-valve engine working on the controlled combustion variable timing intelligent (CC-VTi) technology.
US mkts end marginall lower on rumours over subprime trouble, high energy prices
In economic news, September durable orders was down 1.7%, larger than consensus while weekly inital jobless claims dropped to three lakh thirty one thousand, which was higher than expectations. September new home sales rose 4.8% in September after a sharply lower revision of the August reading. Investors also had to contend with higher energy prices as crude oil spiked to an all-time high of $ 90.60 a barrel before settling slightly lower.
The Dow fell 3.33, or 0.02%, to 13,671.92 after changing direction several times. The blue chip index was briefly down more than 100 points. Broader stock indicators also fell. The Standard & Poor's 500 index fell 1.48, or 0.10%, to 1,514.40, while the Nasdaq composite index fell 23.90, or 0.86%, to 2,750.86.
Indian ADRs end mixed to lower; Satyam down 4%
Indian ADRs ended mixed to lower. Satyam was the major loser down more than 4%. In the technology pack, Infosys Technologies was up 0.29% at $ 48.58, Patni Computers was down 2.9% at $ 21.76, Satyam Computers was down 4.15% at $ 27.98, while Wipro ended the day 1.25% higher at $ 15.38.
In the non-technology pack, HDFC Bank was down 2.83% at $ 114.22, VSNL was up 3.14% at $ 28.27, ICICI Bank was down 0.29% at $ 58.23, MTNL was down 2.95% at $ 9.20, Tata Motors was down 0.91% at $ 19.50, Dr Reddy's Lab was down 2.29% at $ 15.78 and Sterlite was up 1.83% at $ 22.31.
Fund Action
ABN Amro Bank buys 4.2 lakh shares @ Rs 578.7/sh
Citigroup Global Markets buys 12 lakh shares @ Rs 566/sh (NSE/BSE)
Arvind Mills
DSP Merrill Lynch Capital buys 12.43 lakh shares @ Rs 74.3/sh
Recent Fund Action:
Robeco capital growth fund bought 13.63 lakh shares @ Rs 67.41/sh on Oct 12th
Birla MF bought 17 lakh shares @ Rs 65.2/sh (0.81% stake) on 3 Oct
Morgan Stanley Dean Witter bought 12.47 lakh shares @ Rs 60.7/sh on 28 Sept
Morgan Stanley Dean Witter bought 10.62 lakh shares @ Rs 59.7/sh on 27th Sept
Citigroup Global bought 27 lakh shares @ Rs 52.7/sh (1.29% stake) on 4th Sept
Balrampur Chini
UBS Sec buys 18 lakh shares @ Rs 83/sh
Subex Azure
Merrill Lynch Capital Espana buys 10 lakh shares @ Rs 330/sh
Mirae Asset Inv sells 9.95 lakh shares @ Rs 330/sh
Recent Fund Action:
UBS Securities Asia buys 4.7 lakh shares @ Rs 383/sh on 23rd Oct
Mercator Lines
Deutsche Securities Mauritius buys 10.1 lakh shares @ Rs 124/sh
Recent Fund Action:
Deutsche Securities buys 11.54 lakh shares @ Rs 111.19/sh on Oct 24th
Bombay Rayon Fashions
ABN Amro Bank sells 4.37 lakh shares @ Rs 226.7/sh
JBF Ind
Deutsche Bank AG sells 3.23 lakh shares @ Rs 167.4/sh
Ahluwalia Co
Goldman Sachs Investments buys 5.31 lakh shares @ Rs 235/sh
Glory Polyfilms
Axiom Impex Int sells 1.45 lakh shares @ Rs 87.7/sh
GTL Infrastructure
HSBC Financial-Middle East buys 50.66 lakh shares @ Rs 40/sh
GVK Power & Infra
Credit Suisse Singapore buys 4.44 lakh shares @ Rs 680/sh
Mount Everest Mineral
BNP Paribas Arbitrage buys 3 lakh shares @ Rs 137.5/sh
Khandwala Sec
Bentley Investment buys 1.75 lakh shares @ Rs 47.2/sh
Karuturi Networks
Bear Sterns buys 1.72 lakh shares @ Rs 199.85/sh
Ganesh Housing Corp
Macquarie Bank buys 1.46 lakh shares @ Rs 514.7/sh
Friday, October 26, 2007
ITC's second quarter profit up 13%
ABB Q3 net up 41% on strong orders
Rupee climbs on record-breaking stock market
Reliance Power IPO on track
Reliance Power has not changed its plans to list its shares, the Anil Dhirubhai Ambani Group that controls the firm said on 23 October, reacting to market speculation the initial public offer may be postponed.
Reliance Power moves SEBI on campaign by 29 individuals
Sources claimed that the names cover a cross-section of individuals, ranging from members of Parliament and state legislators to those in Reliance Industries Ltd (RIL).
An RPL spokesperson said, "We have filed a formal complaint with Sebi to investigate the disinformation campaign launched against Reliance Power IPO."
RPL had filed a draft red herring prospectus (DRHP) with Sebi for its IPO on October 3, 2007, and since then, there have been media reports on irregularities against RPL, claiming that Reliance Energy Ltd (REL) has passed on power projects from its kitty to RPL.
"Reliance ADAG intends Reliance Power to be its primary vehicle for investment in the power generation sector in the future," the group said in its DRHP.
Sources also claimed that the Sebi complaint relates to forging of letters by individuals while petitioning various government offices against REL projects being passed on to RPL.
There are about a half a dozen members of Parliament and state legislators who have written such letters.
According to the DRHP, RPL has 12 power projects with it, though the growth driver for the company will be the 3,960 MW Sasan ultra mega power project.
The project recently received certification for availing fiscal benefits under the mega power policy of the government.
Incidentally, throughout the run-up to the Sasan project, media reports had said that it was REL which was in the race for the project.
Eventually, it was RPL which received the letter of intent from Sasan Power Company, a shell company created for the purpose.After the IPO, group companies Reliance Energy Ltd (REL) and AAA Project will directly or indirectly own about 45 per cent equity in RPL.
Tax payments of telecom, auto cos dip
"Telecom companies have paid 17.3% less taxes at Rs 535 crore against Rs 647 crore while the slowdown in sales of vehicles led to fall in tax collection from auto sector by 14% at Rs 771.6 crore against
Rs 897.1 crore in Q2 last fiscal," official sources told agencies.Total advance taxes paid by September 15 rose by 30.2% to touch Rs 24,861 crore during the quarter, against
Rs 19,090.98 crore in the corresponding period of previous year. Corporates have to deposit 15% of their advance tax by June 15; 30% each by September 15 and December 15 and the remaining by March 15, based on their expected annual tax liability.
Sources said while Hutchison Essar (now Vodafone Essar), state-run MTNL and BSNL paid less tax, Sunil Mittal-led Bharti Airtel and Tatas-controlled VSNL paid more taxes. The telecom sector, which is adding more than 60 lakh connections every month, is expected to show good results, but the companies have claimed that they have increased investments to expand their network, sources said.
Faced with stagnating demand, major auto companies like Bajaj Auto, Tata Motors, Hero Honda, Mahindra & Mahindra, Hyundai Motors and Punjab Tractors lowered their advance tax payments in the second quarter. However, Maruti Suzuki, Daimler Chrysler, Volvo, Tafe and Ashok Leyland contributed higher taxes. Both Hero Honda and Bajaj Auto, which have announced their second quarter results ended September 30, saw an increase in their sales. However, Hero Honda's net profit declined.
The finance ministry has fixed a target of Rs 2,67,490 crore to be collected through direct taxes in the current fiscal. Sources said with continuing boom in housing sector, real estate firms and related sectors such as banking and cement also deposited more taxes. Tax payments by realty firms rose more than four-fold to Rs 345 crore by September 15 this year as against Rs 65 crore in the year-ago period.
Unitech, DLF, the Raheja group, Ambuja Cements and the Mangalam group were the top tax payers in construction sector, the sources said. Advance tax payments by insurance firms went up by 37.2% at Rs 1,520 crore as against Rs 1,108 crore during the same period last fiscal.
The energy sector, which is playing a key role in sustaining the growth of over 9% of economy, also increased its tax payments by around 32%, and deposited Rs 3,996 crore by September 15,
sources said.
With the success of "Incredible India" campaign, the hospitality sector doubled its tax payment to Rs 123.5 crore. Tax payments by print media and electronic channels nearly doubled to Rs 244 crore by September 15. Bennett Coleman & Co, Deccan Chronicle and Zee Entertainment were among the top advance tax payers, they said.
Cairn India consolidated net at Rs 23 cr in 3rd quarter
The gross production of the operating units for the third quarter was three per cent lower at 75,280 barrels of oil equivalent per day (boepd) over second quarter (77,392 boepd).Oil realisation
The company's average oil price realisation in the third quarter was higher at $77.2 a barrel compared to the previous quarter realisation of $71.11 per barrel. The gas price realisation in the third quarter was $4.13 per million standard cubic feet.
Mr Rahul Dhir, Chief Executive, Cairn India, said, "We continue to focus our efforts on driving forward the Rajasthan midstream and upstream developments with first oil production from Mangala on schedule for 2009. The exploration success in Ravva and the drilling programme in the Cambay basin will underpin cash flows from these two important assets".
Cairn flares up on takeover talk
Market rumours that Cairn Plc was being bought over by BP for a possible consideration of £3.6 billion saw its group company Cairn India's scrip touching a 52-week high of Rs 216.8 on Wednesday. The scrip settled at Rs 204.75 a share, up 7% over previous close on the Bombay Stock Exchange.
The rumour triggered in the London market saw shares in London Stock Exchange-listed Cairn Plc, soar nearly 8% to reach its highest level of the year. Media reports from London said the jump valued the group at just under £3 billion.
Sources said the rumour came in the wake of the recent approaches by Eni, the Italian giant, and the Korean National Oil Company for Burren Energy though the latter does not have any relation with the Cairn group.
"Mid-cap oil exploration companies like Cairn, Premier, are being seen as being the possible target for acquisition by bigger companies," said an industry source. When contacted, a senior Cairn India executive did not deny that Cairn Plc could be one of the mid size companies under the radar of big oil companies but added that such rumours have been doing the rounds for some time now.
Thursday, October 25, 2007
Moser Baer to raise USD 100 mn in its wholly owned photovoltaic subsidiary
"We are delighted to have respected & global private equity investors as our growth partners for the photovoltaic business. We are confident that Moser Baer will benefit from the international experience of these firms, their global network of professionals and relationships. This investment will enhance the speed of Implementation of our plans to emerge as a Leading technology driven Company in the global photovoltaic space from a position of financial strength and create incremental value for our shareholders. While the photovoltaic business has recently commenced commercial operations, this innovative deal has set a minimum threshold Valuation for the photovoltaic business at USD 1 billion". said Mr Ratul Puri, Executive Director of the Company.
The Company plans to rapidly emerge as a leading, global technology driven manufacturer by implementing a capacity of 500 MW by FY10 through a mix of technologies in the crystalline silicon, concentrator and thin film domain.
Globally, given the rapid growth of the photovoltaic industry, there is currently a shortage of silicon wafers, a key raw material for the photovoltaic industry. The Company has implemented a flexible three pronged model for securing raw material, supply through a mix of strategic investments in silicon manufacturing, long term wafer supply contracts and spot purchases.
Buffett sees dollar weakness, Korea stocks attractive
Buffett, who was making a one-day trip to Korea after a visit to China, said Berkshire Hathaway continued to seek good businesses, which will get cheaper in markets if problems from the U.S. subprime mortgage crisis continues.
"We are still negative on the dollar. We bought stocks in companies that are earning their money in other currencies," he said to reporters during a visit to unlisted Korean company TaeguTech.
"In the UK for example, we bought stocks in Tesco . We are gaining foreign currency exposure that we like."
The U.S. currency has lost 23 percent against the South Korean won since the end of 2003, hit by accumulating current account surpluses in South Korea and a steady inflow of portfolio investment into the country's financial markets.
International Monetary Fund Managing Director Rodrigo Rato said on Monday the U.S. currency was still overvalued and that there was room for further depreciation.
SUBPRIME EFFECTSBuffett was sanguine about the impact on Berkshire's investments arising from the subprime mortgage crisis in the United States. While he acknowledged it had been having an impact, he added that potential investment candidates could become cheaper amid market turmoil.
"In six months, or one or two years, the problem in the subprime mortgage, problem in consumers and their buyings in the U.S. may still be there, but this does not have any impact on what we do. We are looking for good businesses, and if some bad temporary news makes a business more available, then we do not care at all."
Omaha, Nebraska-based Berkshire Hathaway owns more than 70 businesses and has some $100 billion of stock and bond investments. The company also has as a subsidiary TaeguTech, which makes cutting tools and tungsten powders.
Buffett, worth $52 billion according to Forbes magazine in March, said he was gaining foreign currency exposure that he likes by owning companies that make money in other currencies, such as the world's fourth-biggest steelmaker POSCO .
Berkshire said in March it held a 4 percent stake in POSCO as of the end of 2006, which he said on Thursday was currently the firm's only holding in a South Korean company.
When asked about South Korean stock markets, he said: "My impression is that the Korean market is modestly cheaper than other markets in the world. I think the Korean market would do better for the next 10 years," he said.
"There is no reason there should be a "bubble" (in the Korean market). The shares were way too cheap a couple of years ago."
South Korea's benchmark Korea Composite Stock Price Index trades at a 2006 price to earnings ratio of 17 times, compared to the Shanghai Composite Index which trades at a PE of around 45 times 2007 earnings, making it one of the cheapest in Asia.
KOSPI, which closed up 2.2 percent at 1,976.75 on Thursday, is up around 38 percent this year and is within sight of record highs of 2,058.87 reached earlier this month.During his first visit to Korea, Buffett was scheduled to meet the chief financial officer at POSCO Co Ltd, Lee Dong-hee, an official at the steelmaker said on Thursday.
POSCO CFO had met Charlie Munger, Berkshire's vice chairman in June in Los Angeles, according to the official.
The veteran investor, known as the "Oracle of Omaha" for his astute investments, was asked whether he had any plans to put money into South Korea's reclusive northern neighbor.
"Well, first of all, I am very flattered by the question because things would have to change a whole lot before we can make investments. I'm 77 years old and the thought that the day would come in my time -- it's very flattering but it's a long way off," he said.
U.S. "undoubtedly in recession": Jim Rogers
The veteran investor, who predicted the 1999 commodities rally, also said he was still bullish about surging Chinese stock markets despite worries over a bubble.
Fears are growing over the health of the U.S. economy after the fallout from the subprime mortgage market crisis and the global credit crunch it triggered.
The U.S. Federal Reserve has already slashed borrowing costs by 50 basis points to 4.75 percent to try and shore up the world's biggest economy and is widely expected to lower interest rates again next week.
"The US economy is undoubtedly in recession," Rogers told the Telegraph in Hong Kong in an article published on its Website.
"Many parts of industry are actually in a state worse than recession. If it were not for (Federal Reserve Chairman Ben) Bernanke putting huge amounts of money into the market, the stock market would probably be down much more than it is."
Rogers, who co-founded the Quantum Fund with billionaire investor George Soros in the 1970s, said it made sense to desert the dollar.
"All other things being equal during the next six months, that's the way I will go," he said. "But if the Swiss franc goes through the roof, I probably won't put money into the Swiss franc."And he dismissed worries for now that surging Chinese equities had formed a bubble.
"It's not a bubble yet -- if it goes past 9,000 in January I'll have to sell. Bubbles always end badly," he said. "I do not want to sell Chinese stocks. I want to own them forever and I want my (four year-old) daughter to own them."
Swan Mills - Multibagger
Swan Mills is developing its property located at Sewree and at Kurla in joint venture with Peninsula Land. The company shall be paying 22% of the sale proceeds to Peninsula for carrying out development and marketing of project.
The projects have following area available for development.
1) Sewree Project – Ashok Gardens is a 12-Acre property with high-class luxurious two towers, with parking podium for 500 cars and project shall be completed by June 09. The total saleable area is about 10 lakh sq. ft. The present selling rate is about Rs 15,500 sq. ft. (including floor rise). The average selling price for the project would be about Rs 12,000 per sq. ft., including car parking. Project would realize Rs 1,200 crores. Deducting cost of construction and development of Rs 285 crores and Peninsula Margin of Rs265 crores, PBT would be close to Rs 650 crores.
2) Kurla Project – The 11 acre project is a commercial complex called Peninsula Technopark with a saleable area of 10 lakh sq. ft. The project shall be completed by FY 10. The project is located adjacent to Bandra Kurla complex where present selling rate is about Rs 30,000 per sq. ft. This project can fetch Rs 25,000 per sq. ft. and since the developers have sold one Tower at old rate, the average rate realization could be Rs 20,000 per sq. ft. Peninsula land would be entitled for 22% of selling receipts as Developers fee, which would be about Rs 440 crores. Construction cost would be about Rs 160 crores, resulting in a PBT of Rs 1,400 crores.
The total PBT from both the project would be about Rs 2,050 crores by FY 10, in the next three years.
The present equity of the company is at Rs 19 crores, being 9.50 crore equity shares of Rs 2 each. Promoters are holding 82%, while about 10% is held by few long-term investors. The share has very low floating stock. The share is presently ruling at Rs 128.60, which results in a market capitalization of Rs 1,220 crores.
The company has not yet sold its Kurla property and quite a large area is unsold at Sewree. With any further rise in realization, it would improve its profitability. The expected PBT from the projects are over Rs 2,000 crores.
Hence, share has potential to rise to Rs 150 to Rs 180 levels in the next 6 – 9 months.
Technology stocks take US Market higher
It was another volatile day in US market. After witnessing sell-off in the first half of the day, stocks started focusing on better than expected earnings reports from various sectors and indices moved higher in the final hour of trading today, Tuesday, 23 October 2007. All the ten economic sectors posted gains today led by the technology and materials sector.
The Dow Jones industrial Average closed higher by 109 points at 13,676. The Nasdaq Composite Index, finished higher by 45 points at 2,799. S&P 500 finished higher by 13 points at 1,519.
American express, Du-Pont and AT&T led the team of Dow winners while 3M headed the list of Dow laggards.
In the early trading hours, a couple of disappointing reports from Target and Wal-Mart started a sell-off in the market. Wal-Mart said that it plans to trim capital expenditures for the current fiscal year more than forecast. On the other hand, Target lowered its third quarter guidance.
But then, there were quite a few big names that came out with blowout earnings reports. AT&T, Apple, American Express, Du-Pont, UPS - all declared earnings reports beating market expectations.
But it was mainly the technology stocks that led the indices higher for the day. Apple shares gained 6.8% after the company announced 67% growth in its Q4 earnings and attributed the same to solid iPod and iPhone sales. Amazon.com shares rallied by 10% and touched the $100 mark for the first time ahead of its third quarter result.
All Indian ADRs end in green – Satyam the main winner
Indian ADRs closed in the green today. Satyam was the top winner closing up by more than 12%. HDFC Bank and ICICI Bank closed up by 7.7% and 6.7% respectively. Other top winners were MTNL and VSNL gaining 4.5% and 7.2% respectively.
Crude prices continued to drop today as traders speculated that Middle East tension between Turkey and Iraq had eased. Price also continued to drop after market expected that tomorrow's weekly inventory report on crude and fuel products are expected to show a climb in inventories for week ended 19 October.
Crude-oil futures for light sweet crude for December delivery closed at $85.27/barrel (lower by $0.75/barrel or 0.9%) on the New York Mercantile Exchange. Prices are up 45% on a yearly basis. Last Friday (19 October) price had peaked to $90.02/barrel after dropping later in the day.
Volume on the New York Stock Exchange topped 1.3 billion, and advancing stocks outran declining issues roughly 11 to 5. On the technology-laden Nasdaq, nearly 2.4 billion shares exchanged hands, and gainers outpaced decliners by 17 to 11.
Existing home sales data for September are expected tomorrow at 10.00 E.T followed by the weekly inventory report from the Energy Department. Other than that, Boeing and Merrill Lynch are scheduled to declare their earnings report before market opens.
IndusInd Bank leads gainers in 'A' group
Drug maker Novartis India jumped 12.66% to Rs 327.40 and came second among top gainers in A group. Its net profit grew 70.1% to Rs 30.39 crore on 14.3% rise in sales to Rs 147.88 crore in Q2 September 2007 over Q2 September 2006. The company declared results during market hours today, 24 October 2007.
Adhesive maker Pidilite Industries flared up 10.39% to Rs 181.75. It was the third biggest gainer in A group. Its net profit jumped 69% to Rs 56.30 crore on 18.8% increase in sales to Rs 370.50 crore in Q2 September 2007 over Q2 September 2006. The company declared results after market hours yesterday, 23 October 2007.
Software firm Rolta India moved up 9.76% to Rs 650.35 and came fourth among top gainers in A group. Earlier on 22 October 2007, the board of directors of the company had approved the proposal for issuing one bonus share for every one share held in the company.
Wind turbine maker Suzlon Energy rose 9.63% to Rs 1,908.75. It was the fifth biggest gainer in A group. The company said on Tuesday (23 October 2007), that it would split its shares and list its Belgium-based group company Hansen Transmissions International NV on the London Stock Exchange.
Wednesday, October 24, 2007
REL investors worried over Reliance Power IPO; ADAG cries foul
"A close study of draft prospectus reveals that the power generation business opportunities secured in the name of REL and secured with the strength of REL have been transformed to RPL by means of some internal MoUs and understandings," REL Investors For um said in a faxed press release.
"The shareholders of REL have been deprived of the entire power generation business prospects to be accrued to them. By means of such a transfer of business and creation of another shell company to issue public shares, now the power generation profits wi ll accrue to the new company in which Mr Anil Ambani holds 50 per cent."
Investors in REL are feeling cheated with ADA group company RPL's proposed public issue, it noted.
When contacted, REL Investors Forum Secretary 'Veekay', whose name was mentioned on the release along with two other persons - Prakash Krishnan and Anil Upadhyaya - said that the forum members include 60-70 shareholders of REL.
"We are looking at taking legal recourse to safeguard the interest of REL shareholders," Veekay said, adding the forum was also writing to other shareholders to join the campaign.
However, a Reliance ADA Group spokesperson said in a statement, "Vicious campaign of disinformation (is) underway by vicious industrial interests to stall Reliance Power IPO." - PTI
MindTree Q2 net up 21% at Rs 27cr
The company attributed the increase in profit to volume growth (12.7%) and pricing growth (3.4%) during the quarter under review. The company had a foreign exchange gain of Rs 3.25 crore and Rs 7.02 crore as other income from fixed term investments.
The company improved its offshore volume contribution during Q2FY08 to 72.7% from 71% in Q2FY07.
The company added 28 new clients, and deepened some existing client relationships to take its active client base to 192. Consequently, its revenues for the period went up 18.37% to Rs 181.95 crore when compared with the corresponding period of the last fiscal.
Revenue from IT services increased 20% to Rs 141 crore, and income from R&D services went up 12.3% to Rs 40.88 crore.
"We have achieved strong growth in revenue and profitability despite the continued appreciation of the rupee. In the backdrop of a strong business environment, we are confident of achieving our revenue target of $178-180 million and profit target of $22.5-22.6 million for 2007-08," Ashok Soota, chairman and managing director, MindTree, said.
MindTree increased the number of $1 million clients from 34 to 41. It recruited 784 people during the quarter to take the total number of employees to 4,896 .
The construction of MindTree's development centre in Chennai is on schedule, and the company expects to begin occupying the centre during the third quarter of 2007-08. With a focus on further strengthening its presence in the European market, MindTree opened an office in The Hague, the Netherlands, during the quarter.
Tuesday, October 23, 2007
Foreign inflows will continue despite PN scare
Important NSE Notices
|HCL Infosystems
|HCL Infosystems Ltd has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 309176 lacs for quarter ending on 30-SEP-2007 against Rs. 278467 lacs for the quarter ending on 30-SEP-2006. Net Profit / (Loss) of Rs. 7213 lacs for the quarter ending on 30-SEP-2007 against Rs. 6707 lacs for the quarter ending on 30-SEP-2006.
|Source: NSE Date: 2007-10-22
|Rolta India
|Rolta India Ltd. has informed the Exchange that the Board of Directors of the company at its meeting held don October 22, 2007 has recommended (subject to the approval by the members of the Company, at their forthcoming Annual General Meeting on November 16, 2007) the Issue of Bonus Shares in the proportion of one Equity Share for every one Equity Share held by the member, on a date to be fixed by the Board, by capitalising a part of the General Reserve / Share Premium Account.
|Source: NSE Date: 2007-10-22
|Rolta India
|Rolta India Ltd. has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 22103 lacs for quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 5382 lacs for the quarter ending on 30-SEP-2007.
|Source: NSE Date: 2007-10-22
|Rolta India
|Rolta India Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 19335 lacs for quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 6139 lacs for the quarter ending on 30-SEP-2007.
|Source: NSE Date: 2007-10-22
|KS Oils
|K S Oils Limited has informed the Exchange that vide its letter dated October 22, 2007: "The Board of Directors in its Meeting of the Company held today have approved the following matters unanimously: (1) Unaudited Financial Results of the Company for the Quarter and half-year ended as on September 30, 2007 with following key highlights: Quarterly:- a) sales increase by 96% to Rs.44341 lacs; b) Net Profit Increase by 139% to Rs.2658 lacs; c) EPS raised by 163% to 1.66. Half-Yearly: a) sales increase by 83% to Rs.80955 lacs; b) Net Profit increase by 156% to Rs.5008 lacs; c) EPS raised by 137% to 2.70. (2) ESOP Scheme for its Employees/ Directors and authorize the Compensation Committee for implementation of Scheme and grant of 1,25,00,000 options to employees and directors as per SEBI (ESOS & ESPS) Guidelines, 1999. (3) Allotment of 2,30,00,000 equity shares of Rs.1/- each to promoters as per details below: a) Ramesh Chand Sourabh Kumar HUF: 1,15,00,000 equity shares of Rs.1/-each. b) Mrs Sheela Devi Garg; 1,15,00,000 equity shares of Rs.1/- each".
|Source: NSE Date: 2007-10-22
|Nucleus Software
|Nucleus Software Exports Limited has informed the Exchange regarding a press release dated October 22, 2007, titled "Nucleus Software amongst the 200 Best Under A Billion Companies in Asia says Forbes". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|Dewan Housing Finance Corporation
|Dewan Housing Finance Corporation Ltd has informed the Exchange that the Board of Directors of the Company at its meeting held on October 22, 2007 has declared an interim dividend at Rs.1.50 per share (15%) on the enhanced paid share capital for the financial year 2007-08.
|Source: NSE Date: 2007-10-22
|Gtl Limited has informed the Exchange regarding a press release dated October 22, 2007, titled "GTL registers a Revenue growth of 86% and Operating Profit growth of 123% on Y-o-Y basis Consolidated results for the quarter ended September 30, 2007.". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|GTL Limited has informed the Exchange regarding the consolidated Results for the half year ended on 30-SEP-2007 as follows: Net Sales of Rs. 84650 lacs for half year ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 18450 lacs for the half year ending on 30-SEP-2007.
|Source: NSE Date: 2007-10-22
|GTL Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 43918 lacs for quarter ending on 30-SEP-2007 against Rs. 40732 lacs for the quarter ending on 30-JUN-2007. Net Profit / (Loss) of Rs. 15236 lacs for the quarter ending on 30-SEP-2007 against Rs. 3214 lacs for the quarter ending on 30-JUN-2007.
|Source: NSE Date: 2007-10-22
|GTL Limited has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2007 as follows: Net Sales of Rs. 69890 lacs for half year ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 6783 lacs for the half year ending on 30-SEP-2007.
|Source: NSE Date: 2007-10-22
|GTL Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 36264 lacs for quarter ending on 30-SEP-2007 against Rs. 33626 lacs for the quarter ending on 30-JUN-2007. Net Profit / (Loss) of Rs. 4543 lacs for the quarter ending on 30-SEP-2007 against Rs. 2240 lacs for the quarter ending on 30-JUN-2007.
|Source: NSE Date: 2007-10-22
|Sonata Software
|Sonata Software Ltd has informed the Exchange regarding a press release dated October 22, 2007, titled "Sonata Consolidated Q2 Net at Rs.11.9 Crs up 21% Y.O.Y, Interim dividend declared 50%". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|Sonata Software
|Sonata Software Ltd has informed the Exchange that Interim dividend of Re.0.50 per share (50% on par value of Re.1/-) has been declared at the Board Meeting held on October 22, 2007.
|Source: NSE Date: 2007-10-22
|Bpl Limited has informed the Exchange that : "The Company has allotted on 22nd October, 2007, equity shares of Rs.10/- each on preferential basis to Electro Investment Private Limited, a promoter group company, in terms of the SEBI Guidelines for Preferential Issues as under : 1) 30,00,000 equity shares of Rs. 10/- each at a premium of Rs. 33.02 per share aggregating to Rs. 12,90,60,000 and 2) 8,20,344 equity shares of Rs. 10/- each at a premium of Rs. 62.99 per share aggregating to Rs.5,98,76,908."
|Source: NSE Date: 2007-10-22
|JK Paper
|Jk Paper Limited has informed the Exchange that "The Company has on 21st October, 2007 commenced the Commercial Production of its international quality, Multilayer Packaging Board Plant of 60,000 t.p.a. at Unit Central Pulp Mills, P.O. Central Pulp Mills-394660, Fort Songadh, District Tapi (formerly District Surat), Gujarat."
|Source: NSE Date: 2007-10-22
|Orient Paper and Industries
|Orient Paper & Industries Ltd has informed the Exchange vide its letter dated October 22, 2007 that: "The Board of Directors of the Company at its meeting held today inter alia decided to diversify its activities into manufacturing and marketing of CFL products at an estimated investment of Rs.40 crores".
|Source: NSE Date: 2007-10-22
|JMT Auto
|Jmt Auto Limited has informed the Exchange that: "Jmt Auto Ltd has bagged order from giant Auto and Engineering Companies like VOLVO (Sweden) for high Precision Pins, EATON (USA) for Gears, Shafts, Hydraulic Pump Shafts. JMT expects its business with international OEMS to increase by 200% by 2007-08 and 100% in year 2008-09".
|Source: NSE Date: 2007-10-22
|KEC Infrastructures
|Kec Infrastructures Limited has informed the Exchange that the Board of Directors in its meeting held on October 22, 2007 have allotted 65,72,000 Equity Shares at a price of Rs.26.43/- per share including premium of Rs.16.43 per share to the warrant holders holding 65,72,000 Warrants allotted as on 30th March 2007, on the warrant holders exercising the option available to them to apply/subscribe for one equity share of the face value of Rs.10 each of the Company at a price of Rs.26.43/- per share, for every one warrant held by them. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|Gujarat State Finance Corporation
|Gujarat State Financial Corporation has informed the Exchange that the Annual General Meeting of the shareholders of the Corporation will be held on November 23, 2007 to transact the following business: (1) To receive, consider and adopt the Profit and Loss Account and Balance Sheet of the Corporation for the year ended on March 31, 2007 along with Auditor's Report thereon and the report of the Board of Directors. (2) To reappoint M/s R.S. Patel & Co., Chartered Accountants, as auditors of the Corporation to hold office from the conclusion of this Annual General Meeting till the conclusion of next Annual General Meeting as recommended by RBI and to fix their remuneration. Further, the Register of Members and the share transfer books of the Corporation will remain closed from November 21, 2007 to November 23, 2007 (both days inclusive) for the purpose of Annual General Meeting.
|Source: NSE Date: 2007-10-22
|Triveni Engineering
|Triveni Engineering & Industries Limited has informed the Exchange regarding a press release dated October 22, 2007, titled "GE Oil & Gas and Triveni Engineering sign Agreement to Tap the fast growing high speed Reciprocating Compressor Market in India". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|Ranbaxy Laboratories
|Ranbaxy Laboratories Ltd has informed the Exchange regarding a press release dated October 22, 2007, titled "Ranbaxy receives approval to market Ran (R)-Lisinopril in Canada". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|Karuturi Networks
|Karuturi Networks Limited has informed the Exchange that: "Karuturi Networks Ltd on 19.10.2007 has completed all formalities leading to acquisitions of infrastructure and management control of Sher Agencies Ltd, Kenya. With this acquisition, Karuturi Networks Ltd has emerged as the worlds largest producer and exporter of roses. Karuturi Roses are available in Africa, USA, Europe, Middle East, Far East Asia, Australia and New Zealand. This acquisition renders Karuturi Networks as the truly Multi National and fully integrated company in India in the field of agriculture. Mr. Sai Ramakrishna Karuturi and Mr. Srinivas Rao Karuturi are appointed as the Director of Sher Agencies Ltd, Kenya after the existing directors of the company stepped down following the acquisition. The new Board of Directors have proposed to rename the company as Sher Karuturi Ltd.".
|Source: NSE Date: 2007-10-22
|Parsvnath Developers
|Parsvnath Developers Limited has informed the Exchange regarding a press release dated October 22, 2007, titled "Parsvnath launches Royale Villas at Jodhpur". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
|Source: NSE Date: 2007-10-22
|LIC Housing Finance
|LIC Housing Finance Ltd has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2007 as follows: Net Sales of Rs. 96546 lacs for half year ending on 30-SEP-2007 against Rs. 71006 lacs for the half year ending on 30-SEP-2006. Net Profit / (Loss) of Rs. 16307 lacs for the half year ending on 30-SEP-2007 against Rs. 11339 lacs for the half year ending on 30-SEP-2006.
|Source: NSE Date: 2007-10-22
|LIC Housing Finance
|LIC Housing Finance Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 51255 lacs for quarter ending on 30-SEP-2007 against Rs. 37726 lacs for the quarter ending on 30-SEP-2006. Net Profit / (Loss) of Rs. 11637 lacs for the quarter ending on 30-SEP-2007 against Rs. 7593 lacs for the quarter ending on 30-SEP-2006.
|Source: NSE Date: 2007-10-22
|Foseco India
|Foseco India Ltd has informed the Exchange that the Board of Directors at the meeting held on October 22, 2007 has declared a third interim dividend of Rs.3/- per equity share of Rs.10/- to the shareholders whose names appear on the Register of Members on November 02, 2007. In addition to the year-to-date cumulative interim dividend of 70%, this declaration brings the cumulative interim dividend to 100%.
|Source: NSE Date: 2007-10-22
|India Cements
|India Cements Ltd. has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2007 as follows: Net Sales of Rs. 172183 lacs for half year ending on 30-SEP-2007 against Rs. 115249 lacs for the half year ending on 30-SEP-2006. Net Profit / (Loss) of Rs. 40605 lacs for the half year ending on 30-SEP-2007 against Rs. 22991 lacs for the half year ending on 30-SEP-2006.
|Source: NSE Date: 2007-10-22
|India Cements
|India Cements Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2007 as follows: Net Sales of Rs. 89023 lacs for quarter ending on 30-SEP-2007 against Rs. 59067 lacs for the quarter ending on 30-SEP-2006. Net Profit / (Loss) of Rs. 22265 lacs for the quarter ending on 30-SEP-2007 against Rs. 11732 lacs for the quarter ending on 30-SEP-2006.
|Source: NSE Date: 2007-10-22
|ILandFS Investment Managers
|Il&Fs Investment Managers Limited has informed the Exchange that: "In view of Bank of India ceasing to be a shareholder of the Company, they have withdrawn the nomination of their Nominee Directors viz. Mr Rajaraman Viswanathan and Mr. Narendra Prasad as Directors on the Board of the Company".
|Source: NSE Date: 2007-10-22


text:
Part One: Today's edition of the Anchorage Daily News contains a long investigative article by ADN reporter Sean Cockerham. He reports that there is a growing controversy on whether not not some unnamed outside agency determined the timing of the arrest of Sherry Johnston, mother of the alleged father of Alaska Governor Sarah Palin's daughter Bristol's newborn son, Tripp.
Hopkins claims that State of Alaska and City of Palmer investigators "are alleging political meddling in the Sherry Johnston drug case, including a delay in serving the search warrant because of the November election."
However, it isn't clear from the article, the excerpts from the emails, or in statements by Palin administration officials what the claim "political meddling" means, or how Cockerham can actually make that claim. I'm not saying that Cockerham's assumption is wrong, only that the article's premise is somewhat unclear. From the articles statements by Public Safety Employees Association Director John Cyr, Alaska State Trooper investigator Kyle Young and Palmer Police Department lead investigator, Donna Anthony.
The protestations against "meddling" accusations by Alaska Public Safety Commissioner Joe Masters (Palin's third in six months) and Alaska State Troopers director Col. Audie Holloway are no more helpful. Cyr, Young and Anthony are unclear about what was manipulated, other than possibly arrest timing, and Masters and Holloway are vague about what they appear to be defending themselves against.
Hopefully, more precise details of what has happened here will clarify the situation.
Part Two: In the comments appended to Cockerham's article in today's paper, I noticed something bizarre. My hunch is that Team Sarah or some other Mooselini fan club are teaming together to have critical comments at articles about Palin moderated. As an example, here are three comments that are "pending review":
For God's sake wake up Alaskans. How much more does this women have to dump on you. Join the rest of the nation and pray that she just go away, forever. She is so over her head.
Get rid of this Hillbilly Barracuda immediately! You wait til Jay Leno or David Letterman gets whole of the Levi controversy. It will show this Barbie is a National embarrassment.
Given Palin's less-than-sterling record of integrity, ongoing abuses of power and her demand for puppet commissioners, I believe what the troops on the ground are saying in this situation. Just another nail in the impeachment coffin.
To me, there is nothing in these three examples that would merit being put into moderation. Compare them to this one by an anointed Palinbot that draws no criticism:
u betcha.... And it's Sarah's fualt the lady which she never met or even knew was dealing to right? Everything is Sarah's fualt.... YOU PEOPLE MAKE ME SICK. And lets see troopers union, hahahahahahahah so honost, so faithful, so Wooten...... What the hel- does the troopers union have to do with arrests or investagations? Ohhhhhhh right maybe they can get a DIG in on Sarah... Why not everyone else is.... Jump on the wagon people.... YOU PEOPLE (the haters) MAKE ME SICK!!!!!!!!!!!!!!!!!!!!!!
Separate subject, sort of: I wrote a diary yesterday evening for firedoglake's Oxdown Gazette, about web coverage of Dan Fagan's article on Levi Johnston's apprenticeship, and the article's reltionship to the ongoing demise of the ADN.

subset: commoncrawl


text:
Death is the most vital reality of life. Call it bitter or devastating, every mortal who came to this world has to return to her/his final abode. There is no exemption for anyone; be it rich or poor.
We fancy the lives of the rich and the powerful. When things are going right, it seems that any misery will never touch them. They will always stand high on a pedestal and enjoy the bounties and beauties of life. However, time is cruel. Change is its instinct. It can not help changing. Death comes and swallows every mortal.
For the wealthy and powerful, it is even worse. Power does not have a pleasant fate in our part of the world. In Pakistan, most of these people have either been assassinated or died in unfavorable circumstances. Human emotions run the same way among them too. Losing a loved one is terrible for anyone and everyone.
Here are some of the most haunting images from the death and funerals of some of the important personalities of Pakistan. Looking at these pictures, our heart breaks into a million pieces.
Who knew where life would take them a few years down the lane? May God rest their souls in an eternally peaceful abode and keep every living person safe and sound. Amen to that.


text:
I am proud to announce that this year we will be taking part once more in the Gilbert and Sullivan festival taking place in Harrogate. We will be performing the Gondoliers at 2:30 pm on the 7th of August at the Savoy Theatre. This is an opportunity not to be missed. For more information on our production please go … Continue reading Harrogate 2017
Author: uniyorkgands
Summer Show – 2017
We are very pleased to announce that our summer show for this year is none other than the impressive Trial By Jury. Directed by our very own Jacob Taylor and Charlotte Gower, the production takes place the weekend of 10th June (week 8 for those at Uni).I can promise the evening will be a great … Continue reading Summer Show – 2017
48-Hour show
Congratulations to the Cast and Crew of the 48-hour show of HMS Pinafore. It was a great performance and truly lived up to the high standard we have. Good job team.
Show Updates – 16th November 2016
Greetings and salutations, Gilberts and/or Sullivans! We bring exciting news of not one, but two shows (we know we spoil you, but you're worth it). Gondoliers Updates We are very happy to announce that tickets for this years main show are now on sale! You can purchase them online from the Joseph Rowntree Theatre Box … Continue reading Show Updates – 16th November 2016
UNIfest Awards
The last half an hour has been exhilarating to say the least, but the results are in from the UNIfest awards and we can't believe how well we've done! Here's a quick round-up: Best Female Voice - Annabel Gipp - NOMINATED Best Male Performer - Andrew Hurst - WON Best Musical Director - Jess Douglas … Continue reading UNIfest Awards
Lights, Camera, IDAAAAA!
Iiiit's showtime! Our members are up bright and early this morning to head over to the Harrogate Theater to get a tech and dress rehearsal in before our performance at 2.30! We look forward to seeing you there, and here are a few photos of our day so far to give you a taste of … Continue reading Lights, Camera, IDAAAAA!
Weekend Blooper Reel
The revised blocking has been completed and today we're doing our first dress run as well as initiating an honourary yugss member, Chairman of the Cambridge G&S Society Daniel Clements! Here are a few of our favourite pics that have been taken during our rehearsals and behind the scenes!
Day 3 in the Derwent Squash Courts…
We're already nearly mid-week into our rehearsals, yesterday was spent initiating our Sons of Gama, Pierre and Callum along with existing brother, Peter, into their revised roles for Act 1! Today we're looking forward to the long-awaited return of our favourite cross dressing trio to finish working on finishing off Act 2. Check our fan … Continue reading Day 3 in the Derwent Squash Courts…
Boot Camp Begins.
lBoot camp is calling! Our performance of 'Princess Ida' at the 22nd International Gilbert and Sullivan Festival in Harrogate is just a week away and our members have migrated back to York for an intense week of rehearsing. Keep checking the website throughout the week for rehearsal photos and videos of our preparations for this … Continue reading Boot Camp Begins.
If you give us your attention, we will tell you what we've been up to! We are proud to unveil our new website that has lovingly been crafted over the last 3 months by the G&S committee 2015/16 Webmaster and Press & Publicity Team. We have input all the information and pictures that are in … Continue reading Welcome


text:
Johannesburg, 20th October 2015: The South African Breweries (SAB), together with a panel of renowned judges within the media industry, announced the winners of the annual SAB Environmental Media and Media Environmentalist of the Year awards at Summer Place in Sandton. The Awards, in their 27th year, aim to recognize the excellence of South African journalists who are reporting on and creating awareness of environmental issues. "The annual Awards have grown over the years and we are especially pleased with the caliber of entries we received this time round, " says Robyn Chalmers, Head of Corporate Communications at SAB.
The winners for the 2015 SAB Environmental Media and Media Environmentalist of the Year, under the below categories, are:
Written Media Award (Print and Online)
WINNER: Sheree Bega, Saturday Star
FIRST PLACE MERIT WINNER: Leonie Joubert, Citydesired.com
SPECIAL MENTION: Jeffrey Burbee, Freelance
Photography Award (Print and Online)
WINNER: Stefan Heunis, AFP
SPECIAL MENTION: Susan Scott, Freelance
Video Media Award (Television and Online)
WINNER: Hermien Roelvert, 50/50
MERIT WINNER: Joy Summers, Carte Blanche
MERIT WINNER: Monique Mortlock, EWN
Audio Media Award (Radio and Online)
MERIT WINNER: Minoshni Pillay, SABC (DBN)
Nick Steele Memorial Award for the Enviromentalist of the Year
WINNER: John Masson, LBD Biodiversity
The Magqubu Ntombela and Ian Player Cub award
WINNER: Bertus Louw, 50/50
"We at SAB would like to congratulate all the entrants who submitted work that grabbed the attention of their readers and our panel of judges. We also wish our winners congratulations on their amazing achievement", says Chalmers.
For more information please visit: www.sabenviromedia.co.za
Follow @SABreweries #SABEnviroMedia on twitter or like facebook.com/SouthAfricaBreweries on facebook for regular updates.
Issued on behalf of: Tumi Mankge Events Specialist The South African Breweries Limited Tel: +27 11 881 8414 | Fax: +27 11 881 8414 | Mobile: +27 71 354 8591 | E-mail: firstname.lastname@example.com
By: Chris Verrijdt Havas Public Relations South Africa Tel: +27 11 549 3600 | Mobile: +27 82 784 6645 | E-mail: email@example.com


text:
Introduction to Mindfulness
Institutio Inside Out Carrer de Balmes 224, Barcelona
This is an orientative session, free and open to all who want to discover more about Mindfulness and the eight-week MBSR (Mindfulness Based Stress Reduction) training program.
All those who want to know what is and is not Mindfulness and the MBSR / REBAP eight-week training program are free to come!
More info here
Institutio Inside Out Carrer de Balmes 224, Barcelona
Talks & Readings, Workshops


text:
Mosher Minutes
James Mosher is an activist, veteran, father and husband. And he's also the author of some unique and in-depth reports. Find the full The Mosher Minutes Collection right here!
The Mosher Minutes: "Locking Up Our Guns is Not a Viable Option"
1/24/18, by James Mosher, One admirable trait about gun control proponents is that they never quit. They press on despite losing big battles, like constitutional carry that became Maine law […]


text:
Autumn in Lugano
Discover the colours of autumn in Lugano thanks to the guided tours organized by the Lugano Region.
Book your room at the best price guaranteed on our website and take advantage of the Ticino Ticket to move around the region for free.
The autumn months in and around Lugano are always full of magic: the mountains that turn orange and red, the illuminated buildings of the city, the scent of roasted chestnuts in the air and sunny days that warm your hearts!
The Lugano Region offers you the chance to discover the city of Lugano from a different perspective thanks to the guided excursion "Autumn Flavours in Lugano". An expert guide will guide you to discover new corners of the city centre, with the possibility to taste typical seasonal products.
A free opportunity not to be missed if you visit us this season!
Starting point: Tourist office in Piazza Riforma
Reservation: Necessary
Cost: Free
03.11.2018 hours 10:30 - 12:30
10.11.2018 hours 16:00 - 18:00
17.11.2018 hours 10:30 - 12:30
24.11.2018 hours 16:00 - 18:00


text:
Our 3 bedroom, 2 1/2 bath home is perfect for the vacationing family or group. It is spacious and fully equipped. We have owned the home since it was built in the late 1990's. It has full amenities including a dishwasher, washer/dryer, cable TV, Internet, a BBQ grill, an outdoor shower, 3 outdoor seating areas, an association pool (heated!), 2 tennis courts, and a club house. One bedroom has a king bed, one a queen, and one 2 twins.
It is 1.5 miles to town and 1.2 miles to Surfside and Nobadeer Beaches. We have many repeat guests. Our all-inclusive rates are a great value.
Nearest beach: 1.2 miles to Surfside & Nobadeer Beaches
Mid-island Info
Naushop Rental, Comfort on Nantucket, Great Value!!
Spacious, bright living room
Living Room
Sunroom, great party room
Sun Room
Kitchen with Stainless appliances, gas stove
Coffee / cocktail area off kitchen
Master Bedroom suite with king bed and full bath
Master Bath
Bedroom #2 with Queen
Twin Bedroom
Shared Full Bath
Great Point, a trek out on the sand with 4WD
Calendar Last Updated: August 23, 2020
Additional availability info:
This is a Sunday to Sunday vacation rental.
Long-Term Rental (1 month or more):
Off season rental starts November 1 until May 1. Rate is $1800/mo plus utilities.
Additional pricing info: State and local taxes of 11.7% will apply
This property does not currently have any guest reviews.
Have you stayed at this property? Be the first to write a review


text:
From cafés to restaurants, hotels, clubs, shops and offices. Novo Italia has recently completed many realizations, each time improving and adding originality, eccentricity and character to every single creation. To be specialized in customised products, it means exactly this: optimize all our makings to obtain unique results, perfectly in compliance with our customers' requests.
Cafés, restaurants but also hotels, shops, offices and different spaces, private houses and stand for exhibitions. Novo Italia can give you simple but efficient solutions to have uniqueness and originality. Each project has a different story as customers have different ideas and requests. We give you the possibility to transform your simple ideas into something really concrete, if your dreaming of a simple room or a bigger project for an office or a new shop.
- All
- Cafe
- Hotel
- Offices
- Restaurants
- Shops


text:
Organic Cotton Close Weave Muslin Produce Bags - Small 3 Pack
Buying this product = 8 Reward points for Members. Your cart will total 8 points = voucher of $0.40. Not a Member? Join at checkout to claim these points.
Set of three 100% organic cotton muslin reusable produce bags in small size. Replace single use plastic bags. Washable, reusable, sustainable shopping. Keeps produce fresher for longer in both pantry and fridge. Suits many other plastic free storage uses for home and travel.


text:
CaddiePlayer Baig join 30 on their Journey to Jordan
With three players tied for 29th place, a playoff was needed to find out the two players who secured their cards. England's Mark James, Pakistan's Ahmad Baig and Sweden's William Nygard were the ones left in the battle. Baig birdied the first hole to take his card while Nygard three-putted from 15 feet for par to give James an unexpected lifeline. Full story > https://menatour.golf/news/details/vacarisas-leads-first-batch-of-30-qualifiers-on-their-journey-to-jordan


text:
Vasant Kushwaha Bio, Age, Death Reason, Bihar MLA Info: Vasant Kushwaha, Bihar MLA, has died on November 30, 2015 in the morning due to heart attack. He was arrived at Patna to take part in Vidhan Sabha session, but in the morning he suffered from heart attack and he was taken immediately to PMCH hospital, where doctors declared him died. Get her more info about MLA Vasant Kushwaha Biography and biodata, and also get more news about him.
Vasant Kushwaha Bio, Age, Death Reason, Bihar MLA Info
Vasant Kushwaha Bihar MLA Bio and Age Info:
Chief Minister Nitish Kumar condoled the death of Kushvah and said he will be cremated with full state honors. MLA Vasant Kumar last respects today by giving the body is placed in the party office in Patna.
Hope you like this post and also share it with your friend on social networks and follow our page on FB: B-Town News for daily updates.
We will come back with more interesting stuff, till then, take care and stay blessed.


text:
posted by AHIP
on August 28, 2019
In Medicaid, long term services and supports (LTSS) refers to the services and supports received by Medicaid enrollees of all ages that help them with functional limitations and/or chronic illnesses, and assistance in performing routine activities of daily living (ADLs) like bathing, grooming, dressing, meal preparation, eating, and medication assistance.1 Services can be provided in a range of settings, including nursing homes, assisted living facilities, convalescent homes, and home and community-based settings.
In 2016, combined federal and state Medicaid expenditures for LTSS were $167 billion – approximately 30 percent of total Medicaid spending. Of total LTSS expenditures, over $95 billion (57 percent) was spent on home and community-based services (HCBS).2 Each year, millions of Medicaid enrollees of all ages utilize the full spectrum of LTSS, from nursing home care to home-based services. It's important to note that medical care and LTSS are very different. LTSS is not curative care; it is a combination of supports and services that help people carry out their daily activities.


text:
Lancashire-based distributor, Vision Commercial Kitchens, has reported another successful year exhibiting at the Glee garden centre event.
At the Birmingham NEC last month, Vision's stand attracted visitors from garden centres all over the country.
Marketing and events coordinator Gabrielle Hall said: "Our experience in this industry and also at this event meant that some good discussions were had with visitors about what kind of project and equipment would suit their establishment specifically, allowing them to fully benefit from their offering."
Rational also joined the stand once again, with chefs Alan Evans and Justin Bailey pulling in the crowds with their cook live demonstrations.
Hall added: "These showed why the combination oven is a must for garden centre restaurants, being able to produce a wide range and high volume of excellent quality food in minutes.
"As well as tasting the free samples, visitors could also enter our competition where the prize this year was a Rational knife set. The winner has been chosen and will be announced very soon after they receive a surprise delivery!"
On display, the dealer had equipment from a range of suppliers, including the new SelfCookingCentre XS from Rational, which made its first showing at a national exhibition and is said to have generated lots of interest.
Vision's garden centre, afternoon tea and coffee shop light equipment themes showcased items such as plant pot table theatre and cake stands, which it says proved popular, with many visitors taking home one of its shop catalogues.


text:
People have talked about what kind of year 2016 has been. Tonight in the meeting of the saints starts a series called, "The Year of Love," focusing on what kind of year 2017 ought to be. We'll look at love for God, for one's neighbor, for the family of God, and for the truth.
The starting idea develops from here:
So it ought to be an interesting approach.


text:
Finished The Yiddish Policeman's Union by Michael Chabon. Took a break two-thirds through to read Potter 7, so while I found the ending a bit anticlimactic, that might have been due to the break.
It's a kind of detective novel set in an alternate world where the fledgling Israel was crushed in its independence war of 1948, and a temporary home for the Jews is set up in Sitka, Alaska. The book is set as that is set to cease to exist.
The parallel history isn't explored in depth, but the milieu is extraordinarily well set up: this Sitka feels absolutely real with great detail and a fascinating atmosphere. Characters are interesting and larger than life. The mystery is moderately well set up: some nice detail and foreshadowing, but also with a huge and unsatisfying gap. Plot-wise it's quite compelling with a fair amount of pace. Very well written in a florid style.
The politics didn't feel quite so real: it's hard to believe certain things could happen. The satire seemed a bit vague and clunky too.
Overall, worth reading for the atmosphere, but a few too many holes to be a classic.
Review, review, review, review, Wikipedia, interview.
The novel was inspired Say It In Yiddish: A Phrase Book for Travellers (discussion).
What I'm Reading 2
Also nearly finished a comic: Future Shocks is a round of short (2-6 pages) comics done by Alan Moore for 2000 AD back in the day. Pretty good, emphasis on trick endings, showing his remarkable inventiveness. Some are obvious, but some pretty haunting. Can't read too many in one sitting though.
Operation Don't Get Fatter
Still not totally convinced it's not dehydration, but the results were excellent this week: another 2 pound loss taking me down to 11st 6, which would completely wipe out the recent weight gain.
Due to bad planning, I have a shedload of weight-loss stuff arriving in this week's Tesco order though. Could have cancelled it, but that seemed like tempting fate. Also, they had a 2 for 1 offer on Slim-Fast® milkshake powder; which means I now have two and a quarter huge tins sitting around.
So, planning to keep going for another week, though maybe not trying so hard. If the current reading is a water glitch, that should take me down to the target; if not I'd probably only be down to my Week 47-50 low of 11st 5. Though I'm still a bit soft in the middle (why am I soft in the middle now? The rest of my life is so hard) so maybe should keep going till the diet food runs out.
Oddly, I went shopping again and still can't fit into Marks and Spencers 32'' trousers. Maybe they
have changed their sizes to reflect reality after all.
Saturday July 21
Breakfast: Toast, HE couscous (225kcal,9.6g protein), 25g soft cheese, tomato.
Lunch: Chilli burger, steamed egg, potatoes, carrot, peas. WW eclair
Supper: Ham and tomato sandwiches, olive.
Booze: 1 beer, 2 whisky
Snacks: Slimfast pretzels
Exercise: 5BX Chart 4 Level A+.
Sunday July 22
Breakfast: Scotch broth (150kcal) 2 slices bread, ham.
Lunch: 180g steak. Potatoes, carrot, broad beans. WW eclair
Supper: Meal replacement bar (210kcal,14g protein)), kiwi fruit, apricot.
Snacks: Hot choc with shot whisky
Exercise: 5BX Chart 4 Level A+. 1.75 miles walking .Dumb-bells 3x10 heavy, med. 1x10 light with med weights (except mil press).
Monday July 23
Breakfast: Slimfast shake,
Lunch: Chicken wrap
Supper: Chilli con carne, 4 toast, olives. 2 finger kit-kat. 2 plums, apricot
Snacks: another apricot, peach
Booze: 2 brandy
Exercise: 5BX Chart 4 Level A+. 1.75 miles walking
Tuesday July 24
Breakfast: Meal replacement bar
Lunch: Dal soup, small chicken sandwich
Supper: Ocean pie, 2 toast, tomato. Light yoghurt.
Snacks: Hot choc. Peach, plum, apricot. Slice ham
Booze: None
Exercise: 5BX Chart 4 Level A+. 3.5 miles walking
Wednesday July 25
Breakfast: Slimfast smoothie (212kcal, 14g protein)
Lunch: Smoked salmon and cream cheese bagel
Supper: Goulash, bread, tomato. WW eclair.
Snacks; Slimfast pretzels
Booze: 1 beer, 1 whisky
Exercise: 5BX Chart 4 Level A+.
Thursday July 26
Breakfast: Slimfast shake
Lunch: Chicken flatbread
Supper: WW chicken hotpot, toast, tomato. WW eclair
Snacks: 2 bananas
Booze: 1 brandy
Exercise: 5BX Chart 4 Level A+. 1.75 miles walking .Dumb-bells 3x10 heavy, med. 3x30 light
Friday July 27
Breakfast: Slimfast shake
Lunch: Hummus and vegetable wrap
Supper: WW chicken curry (294kcal,17g protein), light yoghurt(102kcal,8g protein), toast, tomato
Second supper: 4 Ryvita, ham, olives
Snacks: Banana, pear. WW choc chip
Booze: 1 beer, 1 whisky
Exercise: 5BX Chart 4 Level A+. 3.5 miles walking
Bought a wind-up torch/radio/phone charger. I have no actual need for such a thing. However, after watching "The Descent", "28 Weeks Later" and reading "House of Leaves" I think I've seen far too many cases of people being chased by monsters through the dark with the batteries on their torches running out. Well I'm ready for ya, suckers.
Bit bulkier than I'd like: jacket-pocketable but not really jeans-pocketable. Quite bright: has a 3-LED and 1-LED mode which lasts longer, the 3-LED mode seems slightly brighter than my old torch with 2 D-cells and a wire bulb. Theoretically a quick charge lasts quite a long time for torch and radio. Tried hooking it up to the phone and I think it would be quite strenuous to charge it that way: you'd have to be pretty desperate to use it. Which I think I would be if my phone ran out and I had no other charger.
Apology to Oliver James
After slagging him off in my last diary for not defining Selfish Capitalism, I looked it up in the index and it is defined after all. Sorry, dude.
Also, I may have been confusing him with other psychologist/author/celebrity Oliver Sacks.
By Selfish Capitalism I mean four basic things. The first is that the success of businesses is judged almost exclusively by their current share price. The second is a strong drive to privatise public utilities, such as water, gas and electricity, or, in the case of America, to keep them in private hands. The third is that there should be as little regulation of business as possible, with taxation for the rich and very rich so limited that whether to contribute becomes almost a matter of choice. The fourth is the conviction that consumption and market forces can meet human needs of almost every kind. America is the apotheosis of Selfish Capitalism, Denmark the nearest thing to its Unselfish opposite.I'm not quite sure why regulation of business and low taxation are one item.
Also found an off-hand reference to cognitive therapy which is interesting since the other Happiness Agenda people want a lot more of it.
It [Chinese cultural optimism] is very different from the 'call black white' school of positive psychology fostered by Western cognitive psychologists, Whereas they would advocate a crude deletion of negative thoughts and painting your bubble rose-coloured, Tai is facing up to reality first of all, and only then declaring her intention to change things for the better.Web
Belated but hilarious YouTube. Fox News "They get what they call LULZ".
How the internet ruined poker.
VoxEU. Gender quotas at the top do not increase hiring lower down the ladder.
|< kitchen racism | BBC White season: 'Rivers of Blood' >