Globus Spirits may slip to Rs 110

Globus Spirits may slip to Rs 110, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “Globus Spirits, especially if you see the denial having issued by the management we have seen a steep correction. Generally, it is very risky to dabble into these kinds of stocks on some kind of news flow and we see small investors getting trapped because they are not looking to the fundamentals they just ride the momentum. So it’s very risky and I won’t be surprise to see stock again correcting back to about Rs 110 or so in the next one week or so.”

He further added, “The preference be for theReliance Communication , but the second stock for which I will definitely be taking a call could be Reliance Infra because the kind of positive bias, which we have been seeing building up for the infra stocks Reliance Infra looks to be the better stock in that space of ADAG camp.”

“All these packaging film results have not been very good because the only trigger in Uflex has been the stake sell by the promoters, which is not been happening, probably after we see the Samajwadi Party coming back into the power lot of hopes got built up that they may go ahead and sell their promoter’s stake because Ashok Chaturvedi who has been- there was a talk for the last 6 months. So I don’t think that results will really be the trigger considering the results having posted by the other packaging film makers for the recent past.”

Syndicate Bank quoting ex-dividend

Syndicate Bank in its meeting held on May 05, 2012 has recommended a dividend of Rs 3.80 per share (38%) for the year 2011-2012, subject to approval of shareholders at the Annual General Meeting.

It touched an intraday high of Rs 107.60 and an intraday low of Rs 105.20. At 09:39 hrs the share was quoting at Rs 107.25, down Rs 3.20, or 2.90%. 
 
It was trading with volumes of 16,036 shares. In the previous trading session, the share closed up 2.17% or Rs 2.35 at Rs 110.45.

Citizens willing to pay Rs. 15 for bottle of water, but won't pay Rs. 1 more for a kilo of rice

Bangalore: India would soon return to high growth path soon with several measures being taken by the United Progressive Alliance (UPA) government to reboot the economy battered by external and internal factors, P Chidambaram said  on Tuesday in Bangalore.  The Union Home Minister was addressing a press conference.

To a question on high food inflation and the plight of the middle class, Mr Chidambaram said the issues should not be looked from the point of view of urban middle class alone and said hike in procurement price reflected on food prices. "Higher procurement prices will reflect in higher food prices... but higher procurement prices benefits millions of farmers. if you increase the price of sugarcane, sugar cannot be cheaper... if you increase the procurement price of wheat, paddy, rice the consumer cannot pay less," he said.
   
He quipped people were prepared to pay Rs. 15 for a bottle of water and Rs. 20 for a cone icecream, but protest against rise in wheat and rice price. "You are prepared to pay Rs. 15 for a bottle of water, but we will not pay a one rupee increase in the price of kilo rice or kilo wheat. We are prepared to pay 20 rupees for ice cream cone but we will not pay one rupee more for a kilo rice or kilo wheat," he said.


Giving a report card on the performance of the second UPA government in the past three years, Mr Chidambaram said despite a challenging year when developed countries the world over registered zero or no growth in 2011-12, India registered 6.8 percent GDP growth. "Compared to other countries, India continues to be a high investment destination, as a whopping $46.55 billion of foreign direct investment in 2011-12. We also continue to be a major overseas investor after the US, Britain, Canada, Germany and France. Exports contributed 22 percent to the GDP in 2011-12 from a mere 5.3 percent over a decade ago," Mr Chidambaram pointed out.

He admitted 2011-12 was a bad year during which the country achieved a GDP growth of 6.5 per cent which is "not enough" for a developing country like India where millions of people are in poverty. "We need to grow at a faster rate. We need to create more jobs," he said, adding, "India needs to grow at over 8 per cent or perhaps at 9 per cent." Despite the difficulties, Mr Chidambaram pointed out  that  the government has identified the problems and Prime Minister Manmohan Singh, who also holds the finance portfolio, is addressing these issues.

Indian Railway introduces new Tatkal rules

The Indian Railway has introduced several measures to ensure Tatkal train tickets reach the common man. Booking counters will now open at 10 am instead of 8 am, the day before the journey from the originating station.

"No normal ticket will be issued during this time unless there is no passenger for the Tatkal tickets," an Eastern Railway release said.

ER spokesperson Samir Goswami said Tatkal tickets cannot be booked on internet reservation system during the special time of 10-10.30 am for next day trains.

All travel agents including those of IRCTC will not be allowed to book Tatkal tickets between 10 am to 12 noon from counters as well as on the Internet. There will be separate queues and counters for Tatkal buyers.

CCTVs are being installed at booking centres as well. One will have to carry self attested identity proofs for buying a Tatkal ticket.

The Tatkal revamp comes after the IBN network exposed how touts were cornering these tickets.

Online Tatkal booking made easier:

The Indian Railway has also put in place measures to make online Tatkal bookings easier. High capacity database servers have been installed. The Internet bandwidth has been increased from 344 mbps to 450 mbps.

Web service agents have been permitted to book only one Tatkal ticket per train per day on the internet only after 12 noon. Individual users can now book only two tickets between 10 am and 12 noon

An IT-Anti Fraud Squad has been created. A complaint cell has also been set up. One can email or call these numbers: agentcomplaint@irctc.co.in (011-23745962) or care@irctc.co.in (011-39340000).

Time magazine is late to the party, say BJP and Nitish about PM critique

New Delhi: Time magazine's branding of the Prime Minister as an "under-achiever" in its cover story has predictably been dismissed by his party.  

"It's one among several magazines in the world... it says can the PM rouse himself? The answer is of course," said Home Minister P Chidambaram.

That may be a desperate attempt to see the glass half full. The Asia edition of the magazine, to hit newsstands this week, says the PM appears "unwilling to stick his neck out" for reforms that could revive the country's economy.


With his portrait in the background, the title on the cover reads 'The Underachiever - India needs a reboot'. The party and the Prime Minister's Office have decided not to raise the story or formally contest its contents. The Opposition BJP said today that Time has only "stated the obvious" and that the PM has dented India's international image. Mr Chidabaram described that remark as distasteful, and said he'd like the BJP to remember that in 2002, Time had run a story on then Prime Minister Atal Behari Vajpayee titled "Asleep at the wheel."
     
The Time article is titled 'A Man in Shadow'. It says that in addition to the economic slowdown, "investors at home and abroad are beginning to get cold feet. Voters too are losing confidence, as rising inflation and a litany of scandals chip away at the government's credibility."

Last month, global rating agency Standard and Poor's was critical of the Prime Minister as well. Its report said, "Moreover, paramount political power rests with the leader of the Congress, Sonia Gandhi, who holds no Cabinet position, while the government is led by an unelected Prime Minister Manmohan Singh, who lacks a political base of his own."

The Time magazine report says that "In the past three years, the calm confidence he (Singh) once radiated has been absent. He seems unable to control his ministers and his new, temporary portfolio at the Finance Ministry notwithstanding, unwilling to stick his neck out on reforms that will continue the process of liberalisation he helped start."