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Archive for September, 2010

Wonderful time @ Bangalore

10th, 11th and 12th Sep 2010 were memorable days and went past like a shot of a camera…..I was visiting my friend Bhavya in Bangalore over the weekend and then time flew like seconds…..

I reached the city on Friday morning, by Kingfisher – during the flight i watched an animation movie “Planet 51″….quite enticing…didn’t realise that 1.5hr flew away and the staff was so nice…that i enjoyed every bit of the travel…

After checking out, i met up with my old pal Bhavya….we met like two school girls….hugging each other and screaming with joy….she kept on saying “Ican’t believe that you have come, i am dreaming”….to this i responded by giving her a pinch….he he…”.she said i am in reality now….”

Thereafter, we boarded the airport shuttle to her residence and our trip started….We  reached her residence where aunt greeted us….and thereafter over fed us both….

Then we left to discover the roads of Bangalore….We visited Garuda Mall, Bangalore Central, near MG.Rd (There is a MG.Rd in every city)….where i shopped for sarees for mom…

Garuda Mall, Bangalore

HardRock Cafe, Bangalore

Forum Mall, Bangalore

Iskon, Bangalore

Moving from there we met up a friend at Hardrock Cafe at St Marks Rd (we have one in Pune, Koregaon, quite similar)….it had a nice ambience…and 70’s and 80’s music was playing….we enjoyed the few hours spent….

Thereafter we returned home as aunt had set a deadline….

Then began day 2: We visited the Oasis mall and Forum mall (Kormangala)…and shopped a bit more….then we met another friend and had lunch….

After that we visited the Iskon temple-where we ate Khichdi prasad, IISC college near Yashwantpur and had a blast….

The whole day got over in visiting these places….thereafter we rode through almost the whole of Bangalore – Malleshwaram, Majestic Rd., Banerghatta and finally home…

The good part of the trip was that there was no traffic on the roads….and we were zooming on the roads at a speed of 70-80km/hr….No Banglorean would believe it to be true….so i can say was plain lucky….

Then came 12th Sep 2010 when i had to board the flight back to Pune… We woke up at 5.30am and took the bus shuttle to the airport….i bid adios to my friend and Bangalore….reached Pune at 11am and then back to the routine…

However, these 2 days were the most memorable… 🙂

Sorry no pics…we were too busy roaming…( to tell you the truth my friend doesn’t like to be photographed…however, i picked a few pics from the internet…) ….lol…cause a visit can’t be complete without pictures….

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Is the Indian stock market facing: A Bull Run or a bubble?

I believe that the Bull Run will sustain for a considerable period of time.

Though the Indian economy is faced with pressing issues such as a continuously rising inflation issue, softening growth (IIP growth figures are moving towards single digits) and rising fiscal deficit. The markets will still sustain the Bull Run on the back of strong domestic consumer and capital demand.

In order to resolve the pressing issues, the Government and RBI have taken a number of steps. The government has raised almost Rs.450bn via the 3G auctions that is expected to ease the fiscal deficit situation a tad. However, the inflation figure continues to hover at double digits – 10% which is expected to impede growth. Despite, RBI’s measures to increase the bank rates – the inflation figures have not touched single digits as forecasted. This is an increasing problem for the economy as growth (GDP growth sustained in the range of 7%-8%) coupled with mounting inflation figures will result into overheating of the economy.

Adding to their existent woes (to control inflation) is the huge amount of capital inflows in the form of IPOs and FIIs. Though this is a positive indication for domestic companies to look at expansion, at the same time it creates a problem for the Government that is tackling the inflation problem at war footing.

A look at the capital raised during the past quarter indicates that huge capital was pumped into the domestic markets. This has caused the stock markets to touch the psychological 20K mark after 32 months and created euphoria among investors.

Companies perceive this as a good opportunity to raise funds for expansion and development and have joined the bandwagon….

Almost 13 IPOs have been launched in the past three months (1 Jul 2010 – 20 Sep 2010) and around 8 companies are lined up for the remainder month of September. The 13 IPOs helped garner around Rs.47bn in the market over the past two and a half months, with IPOs (Ramky Infrastructure, Orient Power, Electrosteel Integrated, Gallantt Ispat, VA Tech Wabag, Cantabil Retail India, Ashoka Buildicon, Tecpro Systems) worth Rs.28bn in the pipeline during end of September 2010.

Once all IPOs achieve closure the amount raised via the IPO and FPO route will touch Rs.75bn for the third quarter 2010 (calendar year) compared to the Rs.40-50bn raised in the past quarter (Q2 2010CY). This will be almost double the amount raised during the Q2 2010 (CY). Similarly, FIIs alone pumped in Rs.441.45bn during the past three months indicating huge investments in the stock market.

Company Amount raised (Rs.m) Subscription
Technofab Engineering 720 12.78
Hindustan Media Ventures 2,700 5.43
Midfield Industries 567 13
Engineers India Ltd 9,400 13.6
SKS Microfinance 15,000 13.7
Prakash Steelage 687 4.53
Bajaj Corp 2,900 19.2
Gujarat Pipavav 5,000 20.3
Indosolar 3,570 1.5
Tirupati Inks 515 8.7
Microsec Financial Services 1,480 12.2
Eros International Media 3,500 26.51
Career Point Infosystems 1,150 47.39
Total 47,189  

Source: NSE, Media Releases

An aggregate Rs.516bn has been raised via the IPO and FII route alone. Though the state of the Indian markets and the economy look positive, a few concerns are flagged by foreign and Indian investors. The top most concerns are European debt crisis (Restructuring of the Greek debt looming in the near future), RBIs ongoing aggressive monetary tightening stance, domestic currency strengthening against the dollar and the Indian economy being regarded as expensive (compared to its emerging market peers)*.

Apart from these factors and pressing issues, the Indian economy backed by robust domestic consumer and capital demand will help Indian stock markets sustain an upward trajectory.

Source:

1. BSE, NSE

2. Economictimes

3. TheHindubusinessline

4. SEBI

5. Robert Parker, Senior Advisor Credit Suisse, ET interview –, dated 18 Sep 2010 – *According to a few global economists the Indian stock market is more expensive compared to other emerging markets such as China, Brazil and Russia based on the P/E multiple.  (Link: http://economictimes.indiatimes.com/opinion/interviews/Foreign-investors-positive-on-India-Robert-Parker-Credit-Suisse/articleshow/6579953.cms?curpg=1)

Disclaimer: The article is a compilation of the thoughts of the author. In case your views differ from the article please feel free to comment.

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Moving into the third year of my work life and shuttling between deadlines, I have become a “pukka”/ “pure” VNite….like every year we at VN celebrated Onam dressing style with cream and white as the color dress code for the day…

Most of the ladies had draped Sarees and looked lovely, though I was an exception to the crowd, as I wore a “cream and white salwar kameez”…as subtly as I can put it I can’t drape a saree for nuts forget carrying it all around office…

Could imagine a disaster with the saree, though fond memories of my Xth std still linger at the back of my head…despite the disaster of tearing my mom’s lovely silk saree to bits….gosh guessing what a disaster i could be…

However, coming back to the office, all the ladies looked lovely and gorgeous and you can view the pic…they should go for modelling on second thoughts…lol….Nothing more to disclose….

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