Daily News Updates

[soumyadut]

India thrash Australia 2-0 and regain the Border-Gavaskar trophy

[rmbt]

Finally, Inflation figures come down to single digit.
Inflation drops to single-digit, touches 8.98 pc

[vyomb]

Recession hitting all over--
Germany in recession
UK in recession
Recession-An Analysis of why and how?
World round-up

OECD countries worried.

[soumyadut]

INDIA is officially on the moon



Now fluttering: The Tricolour on the moon

[deepakgreat]

Anyone hear the news about Ambani's new house. News here -

Reaching for the sky: Mukesh Ambani's $1 billion home to tower over 500 ft - International Business Times -

Comments...

[vyomb]

India ranks third among most volatile markets
The growing inconsistency in India's stock markets has pushed the country to be the third most volatile market in the world. It is the markets of the neighboring China and Hong Kong who tops the volatility ranking, as per allotted by the market regulator Securities and Exchange Board of India (SEBI).

While the BSE benchmark index Sensex depicted 30.6 percent annualized volatility a three percent increase from the previous year's 27.6 percent volatility rate, NSE Nifty recorded a volatility of 32.1 percent in 2007-08, a four percen

t increase from the previous year's 28 percent. Both the indexes has witnessed a rapid fluctuations like BSE Sensex touched the yearly high of 21,206.77 on January 10, 2008, and the lowest level of 12,425.52 on April 2, 2007, in the financial year 2007-08. Moreover, the indexes also reflected the appreciation trend in the Indian market as they recorded an appreciation by 19.7 per cent and 23.9 per cent, respectively, on March 31, 2008, over March 31, 2007.

Assessing the volatility, SEBI pinpointed at its annual report that the Equity markets witnessed unprecedented buoyancy as well as steep corrections in 2007-08. Towards the end of the year, there was steep correction in the indices on account of concerns over domestic inflation and impending global recession. Infact, both the indexes has also shown a increase in the points gained. While Sensex gained 2,572 points to close at 15,644 on March 31, 2008, from 13,072 on March 31, 2007, Nifty also added 913 points to close at 4,735 at the end of March 2008 over 3,822 recorded at the end of March 2007. Infact, the country stands as the fourth highest in the world as per its annual return on a point to point basis after the HERMES index of Egypt (56.3 per cent) JCI of Indonesia (33.7 per cent) and IBOV of Brazil (33.1 per cent).

[vyomb]

IT industry hopes to weather the economic downturn news

The predominant sentiment in the Indian IT industry continues to be one of optimism, though somewhat guarded, considering the current economic slowdown.
Speaking on the sidelines of the India Economic Summit, Nandan Nilekani co-founder and chairman, Infosys Technologies, allayed apprehensions of the economic slowdown scorching the industry. Nilekani admitted that the industry faced challenges, but indicated that its resilience would see it through.
The Indian technology sector is expected to face tough challenges, but will continue to grow, though at a slower pace than in the past four-five years. It would also continue to create jobs, according to Nilekani.
Nilekani referred to the similar situation faced by the industry in 2001, and said that the industry had not only weathered the conditions then but also taken advantage of the conditions at that time. "I am sure that companies are following the right strategies to wait for the situation to subside and then take advantage of the next cycle of growth," he opined while reserving comment on specific numbers.

Nilekani also brushed aside fears of a less outsourcing-friendly US policies under President-elect Barrack Obama after he assumes office.
Meanwhile, it is learnt that Nasscom has scaled down its initial 21-24 per cent growth projection for the current financial year in the wake of the financial crisis. It has undertaken a review of the FY09 export targets, which are expected to be released sometime next month.

After years of high growth, the IT industry last month projected modest revenue figures for the third quarter ending 31 December 2008. The current fiscal will also be one of modest growth due to a number of reasons such as delay in decision-making and ramp-ups and pressure on discretionary spends.
Other IT leaders too struck a similar note at the summit. According to Kris Gopalakrishnan, CEO, Infosys, the global economic slowdown has lead to a temporary decline in outsourcing orders, affecting India's IT industry. "The IT services industry will emerge stronger after the crisis because of the global delivery model that the industry follows," he said.
"The IT sector has always managed to lay a stronger foundation for a better future from any crisis it faces," B Ramalinga Raju, founder-chairman of Satyam Computer Services, concurs.
The optimism is also reflected in the hiring plans of IT majors. Infosys plans to hire 25,000 employees in the current financial year (FY09) while Tata Consultancy Services has plans to hire 30,000-35,000 people. Wipro and Satyam Computer Services intend hiring 14,000 to 18,000 IT professionals respectively.

[khushi_adi]

Air India and Kingfisher have cut the fare prices by 350-500 rupees with immediate effect.
may be this decesion is to attract customers to travel more often by air.

[shankla]

After CITI...Bank of America is in line to get funds from the US Govt!!...
Citi's share prices surged upto 60% after the news of its bailing out by the US govt...Interestingly...They were @ 15 yr low and had fallen 60% since last one month...

[debashish4u]

Singapore PM decides to take a pay cut. Way to go in the midst of slowdown.
Indian politicians, thou listening??