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Oil prices fall below $105 on concerns over slowing energy demand and a strong US currency, while the market awaited next week's OPEC meeting on crude output levels.
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Markets likely to bounce back as oil and inflation went on slide and NSG positive response with new business and new developments and positive mood to economy will lead this market back to surge.
Next week sensex as well Nifty will be on new level.
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The Cabinet’s reluctance to approve the food and consumer affairs ministry’s proposal to decontrol sugar is hard to understand — especially when supplies are comfortable and set to improve further because of the dismantling of the sugar buffer of 5 million tonnes. Besides, the fresh crushing season is beginning next month, and will augment supplies. These realities seem to have made no impression on the Cabinet Committee on Economic Affairs (CCEA), which has opted for putting on hold the move to do away with the 10 per cent sugar levy and the monthly release mechanism.
It will be argued that abolition of the sugar levy will force state governments to meet the needs of the public distribution system (PDS) through commercial purchases, and that this will entail higher costsIn fact, decontrol in this situation may well exert a downward push on prices as a result of the freedom that factories will get to offer for sale any amount of sugar that they wish to offload from their buffer stocks.
A vital point to be borne in mind, though, is that the objectives of sugar decontrol will be served fully only if the contentious system of cane price fixation by the Centre and the states is also done away with. The fear that such a move will lead to the exploitation of cane growers by the sugar mills must be tested, and may prove unfounded since the mills need cane to crush, and the farmers who grow the cane have the option to switch to other crops.
-BS-ed
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Arvind Sanger, Managing Partner, Geosphere Capital, said that the euphoria from the NSG waiver would be short-lived. He added that what matters most for Indian markets are economic growth earnings, which are decelerating. There could be longer-term implications for certain sectors, he said....
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With investment opportunities pegged at $100 billion over the next 20 years, the opening up of the Indian nuclear space spells big ticket business for global nuclear biggies.
While French nuclear major Areva NP and Russian state-owned firm Rosatom are touted as among the frontrunners for the Indian nuclear pie, US players General Electric Co. and Toshiba Corporation’s Westinghouse Electric Co are among the key players waiting for the deal to be finally cleared by the US Congress. Global uranium suppliers, led by Australian, Kazakh and Canadian firms, are also eyeing fuel supply contracts .
Areva NP, the world’s largest nuclear power firm and a joint venture between Areva and Siemens, has announced that it could enter the Indian nuclear power sector through a subsidiary. “Areva is certainly following with great interest the developments of Indian nuclear market,” Mr Marco Graziano, Areva Group’s Senior Vice-President – Business Development, told Business Line in a recent e-mail. Areva NP designs and builds power plants, research reactors and related components, besides providing nuclear products and services to power generation players. It also supplies nuclear fuel and its services include engineering, maintenance and repair services.
Russian firms are helping India build two 1,000-MWe (megawatt electric) light water reactors at Koodankulam in Tamil Nadu and plans for six additional units, through Russian assistance, are likely to be put on fast-track. The Minister of State for Power and Commerce, Mr Jairam Ramesh, said the NSG waiver paves the way for Russian and French players. “Besides the Russians, we can now also look at Areva more seriously,” he said.
According to DAE officials, the proposed Jaitapur project in Maharashtra, where a light water reactor was to be set up through French assistance, is likely to be expedited.
US-based nuclear firms, meanwhile, have to wait for the clearance of the deal by the US Congress to commence trade with India. GE would be leveraging its joint venture with Hitachi for entering the Indian market and is open to local partnerships, once the rules are spelt out. “It’s a bit too early to lay out our plans… We are open to partnering with local firms, depending on what the rules are... Our strength is technology and we will be open to local tie-ups,” the GE India chief, Mr T P Chopra, told Business Line. GE’s nuclear unit is a joint venture that is 40 per cent owned by Japan’s Hitachi Ltd.
State-owned Nuclear Power Corporation of India Ltd (NPCIL), the monopoly nuclear power generator, has identified four reactor manufacturers — Westinghouse Electric Company (AP1000 series of reactors), GE-Hitachi (ABWR reactor series), Areva (1,000 MW European pressurised reactors) and the Russia’s atomic energy agency Rosatom (VVER 1,000 reactors) — as among the frontrunners for new projects planned across the country. This is based on “suitability” of technical parameters for placement of orders that will form the first phase of the Centre’s plan to build 40,000 MW of nuclear capacity by 2020.
Nuclear parks
Once nuclear trade commences, NPCIL hopes to set up “Nuclear Parks” or reactor clusters, for which four coastal sites have been identified across Gujarat, Andhra Pradesh, Orissa and West Bengal. These “parks” are being envisaged with a capacity of housing up to eight reactors of 1,000 MW each at a single location. The orders would initially be placed for around two reactors of 1,000 MW at each of the locations, following which more reactors could be added.
“Cost specifications and safety parameters would form the two foremost parameters for the selection of the foreign equipment suppliers for future projects,” a DAE official said. Foreign reactor suppliers are, however, unlikely to be allowed to own equity in the projects in the first phase, officials said.
India has 17 nuclear power plants with a total installed capacity of 4,120 MW in operation. Six additional units, with a capacity of 3,160 MW, are under various stages of construction. If nuclear trade with global players opens up, the Centre, which was originally targeting 20,000 MW of nuclear power by 2020, hopes to double nuclear capacity addition to achieve an installed capacity of 40,000 MW over the next 12 years.
The NSG waiver paves the way for Russian and French players
-TH
US-based nuclear firms have to wait for the clearance of the deal by the US Congress
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As for the fate of the ‘123 agreement’ allowing U.S. companies to sell India nuclear material, Indian officials said what happened on Capitol Hill was now of secondary importance given the State Department’s attempt to reinterpret and undermine the basis of that text.
Overnight political intervention by India and the U.S. proved decisive. -TH
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Is this a victory as the Cong says or a surrender as the Left says? What do you think?
Posted by :
prasadrnTracked by: 0 Boarder
This is definitely a positive that India is now able to chalk out an ambitious energy addition program for development. The benefit of which, I believe, will perculate to the rural areas as well. I only hope that the economic actvity in the rural areas will get a boost with the availability of electricity. The other incremental benefits like technology for space and defence will do more good to India than harm. Many urban middle class voters like me do support this deal. I hope the opposing political parties will see reason and not shoot at their own feet....
In reply to:
Is this a victory as the Cong says or a surrender as the Left says? What do you think?
Posted by :
MMB Messenger
Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger 
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reverse acquisition :
One way for a company to become publicly traded, by acquiring a public company and then installing its own management team and renaming the acquired company.
** Here the parent company is not publicly traded, before acquisition.
07.09.2008
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In reply to:
< Enhance Stock Knowledge Skills >
Posted by : TrueCompanion
Market value added (MVA) :
MVA. The difference between the market value of a firm and the capital contributed by investors. A higher MVA indicates that a company has added more value than what has been contributed to it by shareholders, while a negative MVA indicates that the company has destroyed value.
06.09.2008
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Foreign institutional investors (FII) are a significant segment of investors in the domestic markets. They have been gradually increasing their investments in the domestic markets since 2003, the beginning of the bull run. The Sensex went up from around the 3,000 levels to the 21,000 levels in a span of five years. The trend reversed from January this year as FIIs sold more than $6 billion worth of domestic stocks.
Many analysts of large global funds are of the view that the volatility in the short term will continue. But most of them are bullish on the long-term prospects here. Many large fund managers believe that the domestic economy will grow consistently at over six percent in the next 10 years. This is quite attractive when compared with the 2-3 percent growth in developed economies. The domestic stock markets will bounce back once investor sentiments turn positive globally. et-
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Sorry for the 'bullion' part .. i meant metal space....
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : Nish
Hi Suresh,
Do you think metals are a good buy right now, they have been hammered badly but a further correction in bullion markets is inevitable ?
The rally in the coming days should be primarily led by energy and infrastructure which should see a buildup.
Financials may see short covering.
I am very bullish on BHEL, SUZLON, JP ASSOC, NTPC and L&T.
Tracked by: 78 Boarders
Ohh .. forgot to add punj lloyd to the list. ...
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : Nish
Hi Suresh,
Do you think metals are a good buy right now, they have been hammered badly but a further correction in bullion markets is inevitable ?
The rally in the coming days should be primarily led by energy and infrastructure which should see a buildup.
Financials may see short covering.
I am very bullish on BHEL, SUZLON, JP ASSOC, NTPC and L&T.
Tracked by: 78 Boarders
Hi Suresh,
Do you think metals are a good buy right now, they have been hammered badly but a further correction in bullion markets is inevitable ?
The rally in the coming days should be primarily led by energy and infrastructure which should see a buildup.
Financials may see short covering.
I am very bullish on BHEL, SUZLON, JP ASSOC, NTPC and L&T....
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : hindlevernet
Hi,
NSG waiver has added fuel to the fire. You will see
Nifty hitting 4600 very shortly. Oil and Gas, Poewr,
Energy, capital goods, metals sectors will shoot up
like a rocket powered by nuclear fuel. Stocks to watch:
RELIANCE
ONGC
BPCL
BHEL
LARSEN
RELIANCE PETRO
SUZLON ENERGY
NTPC
JP HYDRO
JP ASSOCIATES
RNRL
GAIL
Thanks
SURESH MITTAL
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In reply to:
WILL NIFTY HIT 3600
Posted by :
jonas
Nightowl,
We may see a minor fall on mon/tues on GUSTAV fears to shed some gains of friday n US is closed on monday so no clues for tuesday.
Once gustav hurricane fears subside oil may tank below $ 110, anytime in the next 2 weeks.
Nifty has gained @ 15% in the past 1.5 months.
I am not an expert but i feel nifty will gain @ 15% in the first half of sep n then shed @ 10% in the later half but overall it will gain by +5 % by sep end n close @ 4500.
I will go long nifty now n short after it reaches 4800/5000 levels.
I will stick to my GUT feelings.
Tracked by: 78 Boarders
Hi gsb,
It is nice to note that you agree with me
that Nifty may cross 4600 within next few
trading sessions. But I have my strong doubt
that it will be able to sustain above this
level of resistance. If nifty falls below
4320 and sustains below it, then it may go
down to the lowest level of the year. Let us
watch....
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : gsb
I fully agree with Mr.Suresh Mittal view and it is sure to hit 4600 now........
Is this a victory as the Cong says or a surrender as the Left says? What do you think?
Posted by : snvaishTracked by: 0 Boarder
I have my feelings that left is totally anti national to India. It has worked totally on the direction of china which is already and old enemy country of India. From the News of today on Aajtak, it has been again clear that China can not be faithful to India. Hence I badly hate all comunits / lefts, regarding BJP, there statement is also not reliable, because it is the habit of all opposition parties that they always crticizes Govt Act, they are opposing for the sake of opposition only ...
In reply to:
Is this a victory as the Cong says or a surrender as the Left says? What do you think?
Posted by : sanjeev3430
Left just thorn in the indian politics. I hope congress or bjp come with complete majority and indian economy higher
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