*Dear all, * **
*Many queries have been asked if I am bearish on market as suddenly I have closed the list (FANTASTIC-15). A list prepared on 26/Jan is closed on 27/April almost 3months return of 33% which means annualized return of 132%, and on a average in a year I have given 3list like this before. This is kind of routine and when you find a buyer if we exit only we get easy exit and better price. With election results slated in next 3week which is an event and can’t be predicted and with sudden outbreak of Swine Flu has influenced my decision to close the list early by 2days.* * * *Derivative Settlement outlook: If Nifty can hold 3420-3435 levels then short would be forced to cover and above 3520 we would possibly see 3620 also. Below 3420 caution is advised * * * *Reliance Industries** has raised its crude oil production capacity from the D6 block of the Krishna-Godavari (KG) basin, the largest find in the country, to a maximum level of 40,000 barrels per day (bpd) from the earlier 18,000 bpd, according to a company executive. Production from the field estimated to save India an annual foreign exchange outflow of $20 billion.* * * *Cipla** Can Supply 1.5 Million Doses of Generic Tamiflu to Fight Swine Flu drugs to help fight an outbreak of swine flu.* * http://www.bloomberg.com/apps/news?pid=20601091&sid=aCNq6tS1TUos&refer=india * *What is swine flu? http://www.abc.net.au/news/stories/2009/04/27/2553633.htm * * * *Aban Offshore** said its consolidated net loss during the fourth quarter ended March 31 stood at Rs 93.04 crore, whereas it had a net profit of Rs 33.92 crore in the same quarter last fiscal.* *Exide Industries**, has reported a 9% rise in net profit for the quarter ended March 31 over the corresponding quarter of the previous fiscal to Rs 68.20 crore, mainly on the back of increased operational efficiency as well as volume growth in the replacement market in the automotive batteries segment.* *Geometric** posted a loss of Rs 20.5 crore for the fourth quarter ended March 31, 2009. The company’s net profit stood at Rs 4.6 crore in the year-ago period. Total income for the quarter was Rs 1, 41.9 crore, up 12% from Rs 126.5 crore in the corresponding quarter last year.* *Bank of Baroda** has posted a 172.3% rise in its fourth quarter net profit at Rs 752.69 crore as against Rs 276.44 crore in the year-ago period.* *Indian Bank** has reported a 63.06% increase in its fourth quarter net profit at Rs 394.07 crore as against Rs 241.67 crore recorded in the year-ago period.* *Jaiprakash Associates** announced an 83.12% jump in net profit for the fourth quarter ended March 31, 2009, at Rs 385.32 crore.* * * *Glenmark **Generics Ltd said it has received tentative approval from the US FDA for the generic version of cholesterol lowering drug Ezetimibe, sold under the brand name 'Zetia' in 10 mg strength.* *Oriental Bank of Commerce** reported a net profit of Rs 195.92 crore in Q4 March 2009 as compared to net loss of Rs 99.44 crore in Q4 March 2008, dividend of Rs 7.30 per share (73%).* *RCOM **on Monday closed the tender offer for buyback of FCCBs, amounting to $24.7 million of face value from foreign investors for $21 million, or at a 15% discount. The company said its shareholders will meet on May 26 to consider a proposal for demerger of optical fibre business into its telecom infrastructure subsidiary Reliance Infratel.* * * * * *India** prepares for shift to gas-based economy* * http://business.rediff.com/report/2009/apr/27/india-prepares-for-shift-to-gas-based-economy.htm * * * * http://economictimes.indiatimes.com/Mutual-Funds/Mutual-Funds-sitting-on-Rs-18227-cr-cash-pile/articleshow/4420357.cms ** Mutual Funds are sitting on a huge cash pile of Rs.18,227 crore -- good enough to maintain buying interest and propel stock market.* * * *http://www.bloomberg.com/apps/news?pid=20601087&sid=ap2pspXn3nNg&refer=home ** Sell Indian Stocks Ahead of Poll Results, Credit Suisse Says* * * *India could revise new foreign direct investment guidelines to avoid negative consequences for Indian banks with majority foreign equity, the Business Standard reported on its Web site Tuesday, citing an unnamed government official. The new guidelines consider any downstream investment by a firm with more than 50% foreign ownership as foreign direct investment, the Web site said. "The issue will be examined...If there is a consensus in these discussions that specific relaxations need to be provided to the banking sector, they would be carried out," the Web site reported the official as saying. * * http://www.business-standard.com/india/news/new-fdi-norms-may-be-revised-for-banking-sector/356487/ * * * * * *Travel, tourism stocks in turmoil on swine flu, Panicked sellers fled investments in air, land and sea on Monday as fears of flu pandemic rekindled memories of the Asian SARS crisis that caused widespread industry turmoil six years ago. From Sydney to New York, selling hit the world's leading airline brands, hotels and cruise operators and the cost of insuring airline debt rose following the outbreak of swine flu.* *http://in.reuters.com/article/businessNews/idINIndia-39198620090427 * * * *Fire broke out at ONGC's Hazira Plant at 11.50 a.m. on Monday. Open vegetation and dry grass in the plant area caught fire, eight fire tenders were pressed into service and the fire was brought under control. The plant, which produces about 42 mmscmd of natural gas, was put on emergency high alert. The concerned area of the plant was isolated and put in safe mode.* * * *Mind Tree** Ltd reported a 115.6% increase in sequential net profit for the March quarter aided by strong profitability in Aztecsoft, while its revenues declined 7.1% over the December quarter, largely due to drop in volume, currency movement and pricing pressure* * * *Vedanta Resources Plc said on Monday it had bought a 9.5% stake in Canada's HudBay Minerals Inc but gave no reason for the move.* *http://in.reuters.com/article/businessNews/idINIndia-39280320090427 * * * *PUBLIC sector oil refiners said they cannot honour their commitment to lift up to 0.7 million tonnes of Cairn India’s Barmer crude this year, till it finalises the price, a petroleum ministry official said, requesting anonymity.* * * *Travel, tourism stocks in turmoil on swine flu, Panicked sellers fled investments in air, land and sea on Monday as fears of flu pandemic rekindled memories of the Asian SARS crisis that caused widespread industry turmoil six years ago. From Sydney to New York, selling hit the world's leading airline brands, hotels and cruise operators and the cost of insuring airline debt rose following the outbreak of swine flu.* *The World Health Organization raised its pandemic alert level from 3 to 4, saying the virus was now widespread and was being transmitted in a sustained way between people.* *TRENTON, N.J. (AP) -- New Jersey health officials say they've identified five probable cases of swine flu in people who recently traveled to Mexico and California. http://hosted.ap.org/dynamic/stories/U/US_SWINE_FLU_NJ?SITE=JRC&SECTION=HOME&TEMPLATE=DEFAULT * --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. 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