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Emerging India.
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Financial News For Busy NRIs & PIOs
Issue No. 07 Evening Edition IST
Corporate News . Investment Opportunities in India
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Headline News in this issue:
- Your win will inspire people everywhere: PM
- This is a great time for investing in India
- LNM Plans 30% output cut
- ADAG vies for 33% stake in Gopinath’s cargo airline
- BR Chopra passes away
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Quotable Quotes
Never forget the Power Of Compounding. (100,000 if invested in a good diversified mutual fund, when the stock prices are low, would typically appreciate to 1500000 in 15 years, and to 23 million in 30 years.)
- Sagar Kapoor
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SENSEX: 9,734.2 DOWN 54.1 % from 52-wk high
FOREX-Rs: USD 47.71 / EUR 61.49 / GBP 75.62
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Your win will inspire people everywhere: PM (ET, Mum, 06Nov08,P2)
PRIME Minister Manmohan Singh, who has made no secret of his admiration for outgoing US president George W Bush, has termed president-elect Barack Obama’s journey to the White House as `extraordinary.’
Acknowledging the meteoric rise of the Senator from Illinois to the top job, Mr Singh in a congratulatory message to Mr Obama said: `Your extraordinary journey to the White House will inspire people not only in your country but also around the world.”
The PM might meet him when he goes for the G-20 meeting on the financial crisis on November 15. But it remains to be seen if he can recreate the rapport he shared with Mr Bush.
LNM Plans 30% output cut (ET, Mum, 06Nov08,P1)
ArcelorMittal chairman & CEO LN Mittal on Wednesday said his company was planning a 30% production cut globally and temporarily “pausing” growth plans due to falling prices and the global financial crisis, reports Javed Sayed in New Delhi.
ADAG vies for 33% stake in Gopinath’s cargo airline (ET, Mum, 06Nov08,P6)
ANIL Dhirubhai Ambani Group (ADAG) is once again warming up to aviation entrepreneur Capt GR Gopinath after losing out on acquiring Air Deccan last year. ADAG’s private equity arm, Reliance Equity Advisors, is holding talks to invest over $50 million (Rs 250 crore) in Gopinath’s new venture — Deccan Cargo — in return for a significant minority stake in the startup airline, sources said.
Gopinath’s new dream of linking India’s distant hinterlands to the mainstream markets is expected to take off in January next year with fleet of Airbus aircrafts.
BR Chopra passes away (ET, Mum, 06Nov08,P3)
LEGENDARY filmmaker BR Chopra, who made immortal classics highlighting socially relevant issues and produced the popular hindi TV serial Mahabharat, died Wednesday at his home here following prolonged illness.
Baldev Raj Chopra, elder brother of another noted filmmaker Yash Chopra, was 94. Mr Chopra was not keeping well for some time and the end came at 0830 hours at his residence in suburban Juhu, family sources said.
Mr Chopra was known for making films based on powerful offbeat themes like Dhool ka Phool (1959), Waqt(1965) and Naya Daur (1957), Kanoon (1958), Humraz (1967), Insaf Ka Tarazu (1980) and Nikah (1982) to name a few. Whether it was issues relating to adultery (Gumraah), the politics of rape (Insaaf ka Tarazu), muslim matrimony laws (Nikah), rehabilitation of prostitutes (Sadhana) or widow remarriage (Ek Hi Raasta), Mr Chopra always had a sharp, clear and effective non-formula tale to tell.
For news in detail, visit The Economic Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex came down by 3.8% today.
SENSEX: 9,734.2 (-3.8%) NIFTY: 2,892.7 (-3.4%)
. DOWN...54.1 % from 21,206.77 the 52-week high of BSE-SENSEX
. UP..........13.6 % from 8,566.82 the 52-week low of BSE-SENSEX
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Investment & Wealth Creation Advice:
We expect the stock market to be range bound and will go below 9000 level a few times in the next few weeks.
We believe that making stepwise SYSTEMATIC investments in good Mutual Funds at Sensex levels of 9000 & below would give you excellent returns if you are ready to keep your funds invested for 3-4 years.
As indicated earlier, you should now consider making systematic investments over the next few weeks after taking advice of investment experts. If you are planning to invest amount X in the next couple of months in equity shares / mutual funds, then invest 10% of the amount now, as the market may go down further. After a week or so, you could invest another 10% and so on.
As you, as an NRI, may not find it easy to remain in close touch with the Indian market, we recommend that you invest in diversified mutual funds with a 36-48 month investment period.
If you make investments in the right shares and mutual funds when the market is at about 9000 level, you can expect minimum 25% (post-tax) compounded annual returns in the next 3-4 years.
We recommend that you read the Golden Rules of Investing given below at least once every month to ensure that you do not forget these golden rules and do not make investments in wrong assets.
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Golden Rules of Investing
- Never put all your eggs in one basket. De-risk by making equal investments in realty, fixed-interest instruments, equity / mutual funds and gold when the time is right for making these specific investments.
- Out of the investments planned to be made in equity & mutual funds, make equal investments in 10-15 stocks with strong fundamentals, belonging to 4-6 sectors OR equal investments in 3-5 diversified mutual funds OR a mix of these two asset classes.
- Never invest based on your gut feel or a friend's advice.
- Never make speculative investments. Listen to two or three time-tested investment advisors.
- Never make these 3 common mistakes: 1. Buying shares of a reputed company at a wrong price, 2. Buying shares of a bad company at any price, 3. Buying & Selling shares without consulting time-tested investment advisors.
- Never depend entirely on your broker for making all your buying & selling decisions. Do consult at least two time-tested investment advisors.
- Never lose money. Define your stop-loss rules in consultation with time-tested investment advisors to protect your capital.
- Never borrow to invest in stocks.
- Never believe that you are destined to make it big. Such beliefs often lead to wrong decisions and major losses. Be rational. De-risk. Listen to time-tested investment advisors.
- Avoid investing in stocks / mutual funds or realty or gold when their prices appear to be at a high. Make Systematic Investments with a long-term view when they are at a low.
- Keep the stocks for a long-term or make Systematic Divestments when the markets appear to be at a high.
- Avoid investing in depreciating assets like expensive cars, mobile phones, electronics etc. You should rather put your extra money in appreciating assets like real-estate, equity, mutual funds, gold etc. when these assets are available at bargain prices.
- Never forget the Power Of Compounding. (100,000, if invested in a good diversified mutual fund when stock prices are low, would typically appreciate to 1500000 in 15 years, and to 23 Million in 30 years.)
- Caution: Speculative & Short-term investments and investments made without consulting time-tested investment advisors could be detrimental to your financial health.
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