tag:blogger.com,1999:blog-46794452063178510042024-03-06T04:46:35.283+05:30FINPPHere I showcase important Economic, Financial news of the day from my view. I try my best to explain the facts, terminology and events in simple language. Suggestions are always welcome.Unknownnoreply@blogger.comBlogger28125tag:blogger.com,1999:blog-4679445206317851004.post-70611361727048861612010-04-26T11:36:00.003+05:302010-04-26T13:07:05.180+05:30Back to BlogAm back to blogging on Finance and Economic topics. I would keep blogging on various financial and economic factors, conditions and news. To start with, the current highlights are:<br />1) Greece Crisis and EU bail out of Greece.<br />2) Goldman Sachs sued for fraud (because of the deadly CDOs traded)<br />3) Rajat Gupta allegedly involved in biggest insider trading of this generation.<br />4) Markets, Inflation, RBI Rates<br /><br />and, many more. Keep Following !Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-4679445206317851004.post-9172949987984645192009-04-06T12:05:00.007+05:302009-04-06T12:26:08.347+05:30SectorWise Sensex<div>Performance of various Sectoral Indices of Sensex. </div><div>Full Year period is 1-April-2008 to 31-March-2009</div><div>First Half period is 1-April-2008 to 1-October-2009<br /></div><div><br /></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiXRd3-bX21Ps4kDYaZqlCobHcbalVYtnPlgfy5ht-X7-oU0nOGCcnn2VCQ7CnARESKhERoTQNz0SuY0waA7J5apmB4iDrdxtnSI2nuSho62vPsJ81pGmIbLKx6eLdob1qgheLRKoiUWbi/s1600-h/sector.JPG"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 242px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiXRd3-bX21Ps4kDYaZqlCobHcbalVYtnPlgfy5ht-X7-oU0nOGCcnn2VCQ7CnARESKhERoTQNz0SuY0waA7J5apmB4iDrdxtnSI2nuSho62vPsJ81pGmIbLKx6eLdob1qgheLRKoiUWbi/s320/sector.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5321463542431386882" /></a><br /><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div>Realty fell the most in last 1 year with a fall of almost 79.1% ! <div>Realty is followed by Small-Cap(58.7%), Consumer Durables(58.2%), Metals(58%) and Mid-Cap(53.8%)!! <div>In my next post, I will cover the Index movers i.e. the stocks which moved these indices the most. </div></div></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-86681651218959838782009-04-01T10:59:00.004+05:302009-04-01T11:50:28.039+05:30Nifty in 2009<span class="Apple-style-span" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;"><div>Nifty has moved up 2.09% in 2009. It closed at 2959.15 on last day of 2008 and by the end of first 3 months i.e. 31 March 2009 it is at 3020.95! </div><div>This is the list of how Nifty stocks have performed in last 3 months. Note that this is not index movers since they have different weights. </div><div>Also to be noted here is Zee Entertainment is replaced by Axis Bank on 27 March 2009 and and Satyam replaced by Reliance Capital on 12 January 2009 ! </div><div><br /></div><span class="Apple-style-span" style="-webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; "><table><tbody><tr><td><span class="Apple-style-span" style="font-weight: bold; ">Name</span></td><td><span class="Apple-style-span" style="font-weight: bold; ">31-Dec-08 </span></td><td><span class="Apple-style-span" style="font-weight: bold; ">31-Mar-09 </span></td><td><span class="Apple-style-span" style="font-weight: bold; ">% Change</span></td></tr><tr><td>Maruti Suzuki</td><td>520.2</td><td>779.85</td><td>49.91</td></tr><tr><td>Mahindra Mahndra</td><td>274.5</td><td>383.65</td><td>39.76</td></tr><tr><td>Sterlite Indu</td><td>260.1</td><td>357.6</td><td>37.49</td></tr><tr><td>Hero Honda</td><td>803.65</td><td>1071.15</td><td>33.29</td></tr><tr><td>Grasim Ind</td><td>1219.85</td><td>1582.15</td><td>29.7</td></tr><tr><td>Steel Authority</td><td>77.5</td><td>96.45</td><td>24.45</td></tr><tr><td>Reliance Indu</td><td>1232.75</td><td>1524.75</td><td>23.69</td></tr><tr><td>ACC</td><td>480.15</td><td>574.4</td><td>19.63</td></tr><tr><td>Gail</td><td>206.25</td><td>245.6</td><td>19.08</td></tr><tr><td>Infosys Tech</td><td>1115.45</td><td>1323.9</td><td>18.69</td></tr><tr><td>Cipla Ltd</td><td>186.6</td><td>220.05</td><td>17.93</td></tr><tr><td>ONGC</td><td>667.1</td><td>780.2</td><td>16.95</td></tr><tr><td>Pwr Grid Corp</td><td>83.15</td><td>95.6</td><td>14.97</td></tr><tr><td>National Alum</td><td>189.45</td><td>214.65</td><td>13.3</td></tr><tr><td>Tata Motors</td><td>159.85</td><td>180.3</td><td>12.79</td></tr><tr><td>Tata Consult</td><td>477.9</td><td>538.55</td><td>12.69</td></tr><tr><td>BHEL</td><td>1362.6</td><td>1510.55</td><td>10.86</td></tr><tr><td>Reliance Petro</td><td>87.2</td><td>95.1</td><td>9.06</td></tr><tr><td>ITC</td><td>171.7</td><td>184.85</td><td>7.66</td></tr><tr><td>Cairn India</td><td>172.05</td><td>184.1</td><td>7</td></tr><tr><td>Wipro Ltd</td><td>233.4</td><td>245.9</td><td>5.36</td></tr><tr><td>Sun Pharma</td><td>1064.15</td><td>1111.45</td><td>4.44</td></tr><tr><td>Tata Communi</td><td>501.75</td><td>518.35</td><td>3.31</td></tr><tr><td>Tata Power</td><td>749.15</td><td>768.6</td><td>2.6</td></tr><tr><td>Hindalco Inds</td><td>51.4</td><td>52.05</td><td>1.26</td></tr><tr><td>Ambuja Cem</td><td>70.05</td><td>70.6</td><td>0.79</td></tr><tr><td>Bharat Petroleum</td><td>376.1</td><td>376.05</td><td>-0.01</td></tr><tr><td>NTPC</td><td>180.6</td><td>179.85</td><td>-0.42</td></tr><tr><td>HDFC Bank</td><td>998.35</td><td>973.4</td><td>-2.5</td></tr><tr><td>Idea Cell</td><td>52.65</td><td>50.1</td><td>-4.84</td></tr><tr><td>Housing Dev Fin</td><td>1486.4</td><td>1412.2</td><td>-4.99</td></tr><tr><td>Hindustan Unilev</td><td>250.3</td><td>237.5</td><td>-5.11</td></tr><tr><td>Tata Steel</td><td>217.2</td><td>205.9</td><td>-5.2</td></tr><tr><td>ABB Ltd (India)</td><td>453.8</td><td>426.7</td><td>-5.97</td></tr><tr><td>Siemens</td><td>286.95</td><td>268.1</td><td>-6.57</td></tr><tr><td>Reliance Infrast</td><td>579.5</td><td>515.55</td><td>-11.04</td></tr><tr><td>HCL Techno</td><td>115.3</td><td>102.05</td><td>-11.49</td></tr><tr><td>Bharti Airtel</td><td>715.5</td><td>625.75</td><td>-12.54</td></tr><tr><td>L&T</td><td>773.75</td><td>671.4</td><td>-13.23</td></tr><tr><td>Unitech</td><td>40.65</td><td>34.9</td><td>-14.15</td></tr><tr><td>Reliance Power</td><td>119.95</td><td>102.35</td><td>-14.67</td></tr><tr><td>State Bank IN</td><td>1288.8</td><td>1067.1</td><td>-17.2</td></tr><tr><td>AXIS Bank</td><td>504.7</td><td>414.95</td><td>-17.78</td></tr><tr><td>Punjab Nat Bk</td><td>526.7</td><td>411.45</td><td>-21.88</td></tr><tr><td>Reliance Commun</td><td>227.2</td><td>174.85</td><td>-23.04</td></tr><tr><td>ICICI Bank</td><td>448.1</td><td>332.8</td><td>-25.73</td></tr><tr><td>Suzlon Energy</td><td>62.3</td><td>42.35</td><td>-32.02</td></tr><tr><td>Ranbaxy Labs</td><td>252.35</td><td>165.7</td><td>-34.34</td></tr><tr><td>Reliance Capital</td><td>541.75</td><td>353.45</td><td>-34.76</td></tr><tr><td>DLF</td><td>282.15</td><td>167.3</td><td>-40.71</td></tr></tbody></table><br /></span></span><div><br /></div><div>If we look at it sectorwise, Banks have gone down. We see ICICI, PNB, Axis Banks, State Bank at the bottom alongwith Reliance Capital. Worst hit in 2009 is DLF!! </div><div>Important sector which saw a positive signal in 2009 is automobile. We see Maruti Suzuki, Hero Honda, Mahindra and Mahindra topping the charts. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-15204164388564954312009-03-25T15:02:00.003+05:302009-03-25T15:37:52.257+05:30Nifty - change in consituents<div><div>India's major equity index has seen change in weightage since last year. First of all a summary of whats added and whats removed in last 1 year:<div><ul><li>on 10-September-2008 Reliance Power added and Dr Reddys Laboratories Ltd removed <br /></li><li>on 12-January-2009 Reliance Capital Ltd replaced Satyam Computer Services Ltd<br /></li></ul><div><span class="Apple-style-span" style="color: rgb(51, 51, 255); ">Over the period we saw weightage of Giant PSUs increasing on Nifty. </span></div><div><ul><li><span class="Apple-style-span" style="color: rgb(51, 51, 255); ">NTPC increased from 5.62% to 8.19% now, increase of 2.58%! <br /></span></li><li><span class="Apple-style-span" style="color: rgb(51, 51, 255); ">ONGC increased from 7.83% to 9.10% now, increase of 1.27%! <br /></span></li><li><span class="Apple-style-span" style="color: rgb(51, 51, 255); ">Similary Infosys weightage increased by 1.26%, ITC by 1.15%, Hindustan Unilever by 1.03% and Reliance Industries by 1.01%.</span><br /></li></ul></div><div><span class="Apple-style-span" style="color: rgb(255, 0, 0); ">On the downside we see DLF, Reliance coomunications, Unitech and ICICI losing their weights on Nifty:</span></div><div><ul><li><span class="Apple-style-span" style="color: rgb(255, 0, 0); ">DLF decreased from 3.93% to 1.54% now, decrease of 2.39%!<br /></span></li><li><span class="Apple-style-span" style="color: rgb(255, 0, 0); ">Reliance communication decreased from 3.79% to 1.82% now, decrease of 1.97%!<br /></span></li><li><span class="Apple-style-span" style="color: rgb(255, 0, 0); ">Unitech weightage decreased by 1.29%, ICICI Bank by 1.17% and L&T by 1.1%.</span><br /></li></ul></div><div>This chart shows how weights have changed sectorwise:</div><div><br /></div></div></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6mPN_G-3CTrOrH5LIb8OAMO_jCfZpuW2RvkpoXbh5AkwkbT6MJVuugbA7VqK4vLbOm18AuxJ0Na-7LtyAVsSDktWlGFusrxx4Ah0l6gHvArSLurTEkkKKBgKMJOG8OPGdpKV0mKBIabKU/s1600-h/change+weights+sectorwise.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6mPN_G-3CTrOrH5LIb8OAMO_jCfZpuW2RvkpoXbh5AkwkbT6MJVuugbA7VqK4vLbOm18AuxJ0Na-7LtyAVsSDktWlGFusrxx4Ah0l6gHvArSLurTEkkKKBgKMJOG8OPGdpKV0mKBIabKU/s320/change+weights+sectorwise.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5317064665438638386" style="display: block; margin-top: 0px; margin-right: auto; margin-bottom: 10px; margin-left: auto; text-align: center; cursor: pointer; width: 320px; height: 186px; " /></a><br />This shows the current weights in NIFTY:<br /></div><div><br /></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGCUzg5DpV-RhIrkZ0yPJ1zxereenv7-nmYx1sAn-hWcsr683Gvwi2eoHn4DU4NDmZpRnxI7JDLGGJNcToe7p6XtXf2cjDqOVFj3H_AVrJPc1dFREglS9GtcGd-HSoi_VThgDJf3ogdoV0/s1600-h/sectorwise+weights.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 202px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGCUzg5DpV-RhIrkZ0yPJ1zxereenv7-nmYx1sAn-hWcsr683Gvwi2eoHn4DU4NDmZpRnxI7JDLGGJNcToe7p6XtXf2cjDqOVFj3H_AVrJPc1dFREglS9GtcGd-HSoi_VThgDJf3ogdoV0/s320/sectorwise+weights.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5317064877184358866" /></a><br /><div><br /></div><div><br /><div><div><br /></div></div></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-1577621781666448752009-03-19T12:21:00.000+05:302009-03-19T12:43:05.539+05:30India Inflation at all time LowWholesale price index for the week ending 7th March fell more than expected to 226.7 pulling inflation down to 0.44%, an all time low. <a href="http://newspp.blogspot.com/2009/03/declining-inflation.html">Previous all time low was 1.13% in February 2002</a>. Very soon inflation will fall into negative territory now. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-43027555941228492122009-03-18T12:19:00.001+05:302009-03-18T14:20:08.535+05:30Market Summary (comparing 52 week High-Low)<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgghXhSmaVlj7WHfOa6gSjZln1oGr-t57I3lEXkgwgRdWsV_T9hESQWjwzniwx9zZP2MoORbKhwLwIRwkJgogFiY5V-b7vimxRScwXcYUoGEzmq0tlEseh6cFMqmW_uNZXOHWE5BICeMV6W/s1600-h/52weeklow.JPG"></a>I did this analysis on 500 stocks in BSE-500 Index. I wanted to check stocks which are farthest and nearest to their 52-weeks Low and 52-weeks high. <div><span class="Apple-style-span" style="font-style: italic;">(This is the first time I tried this, so please let me know if there is any mistake and pour in your suggestions and comments)</span><br /><br />1) These are the names which are farthest from their 52 week high. Note that these all reached their highs in March-May '08. They have almost lost their entire wealth with Vishal Retail losing as much as 97%. Another known name in the list is Maytas! <div><br /><table><tbody><tr><td><span class="Apple-style-span" style="font-weight: bold;">Name</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Price</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year High</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year High Date</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Distance from High</span></td></tr><tr><td>Vishal Retail Ltd</td><td>25.65</td><td>879.95</td><td>4/1/2008</td><td>97.08%</td></tr><tr><td>Prajay Engineers Syndicate Ltd</td><td>13.15</td><td>319.9</td><td>3/26/2008</td><td>95.89%</td></tr><tr><td>Maytas Infra Ltd</td><td>33.95</td><td>750</td><td>4/2/2008</td><td>95.47%</td></tr><tr><td>B.L.Kashyap & Sons Ltd</td><td>89.55</td><td>1750</td><td>5/2/2008</td><td>94.88%</td></tr><tr><td>Cals Refineries Ltd</td><td>0.36</td><td>6.7</td><td>5/30/2008</td><td>94.63%</td></tr></tbody></table><br />2) These are the names which are closest to their 52 week high. Note that Hero Honda and Akruti City are reaching highs this week. Important here is Akruti City which has doubtfully risen almost 84% from 858 to 1577.8 in first 10 days of March. <br /><br /><table><tbody><tr><td><span class="Apple-style-span" style="font-weight: bold;">Name</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Price</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year High</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year High Date</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Distance from High</span></td></tr><tr><td>Power Grid Corporation of India Ltd</td><td>96.3</td><td>108.45</td><td>5/5/2008</td><td>11.2%</td></tr><tr><td>GlaxoSmithkline Pharmaceutical Ltd</td><td>1155.85</td><td>1233.7</td><td>2/18/2009</td><td>6.31%</td></tr><tr><td>Colgate Palmolive (India) Ltd</td><td>448.35</td><td>473.8</td><td>3/2/2009</td><td>5.37%</td></tr><tr><td>Akruti City Ltd</td><td>1577.8</td><td>1610</td><td>3/17/2009</td><td>2%</td></tr><tr><td>Hero Honda Motors Ltd</td><td>974.35</td><td>985</td><td>3/13/2009</td><td>1.081%</td></tr></tbody></table><br />3) Here are the names which are now closest to their 52-weeks low. But also note here that these names reached their 52-weeks low very recently. <br /><br /><table><tbody><tr><td><span class="Apple-style-span" style="font-weight: bold;">Name</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Price</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year Low</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year Low Date</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Distance from Low</span></td></tr><tr><td>Greaves Cotton Ltd</td><td>50.4</td><td>50.1</td><td>3/17/2009</td><td>0.59%</td></tr><tr><td>Future Capital Holding Ltd</td><td>93.7</td><td>92.9</td><td>3/12/2009</td><td>0.85%</td></tr><tr><td>Raymond Ltd</td><td>70.75</td><td>70.05</td><td>3/9/2009</td><td>0.99%</td></tr><tr><td>Allied Digital Services Ltd</td><td>147.8</td><td>146.05</td><td>3/12/2009</td><td>1.19%</td></tr><tr><td>Vishal Retail Ltd</td><td>25.65</td><td>25.25</td><td>3/17/2009</td><td>1.58%</td></tr><tr><td>Jubilant Organosys Ltd</td><td>86.4</td><td>85</td><td>3/17/2009</td><td>1.64%</td></tr><tr><td>Apollo Hospitals Enterprise Ltd</td><td>356.45</td><td>350</td><td>3/17/2009</td><td>1.84%</td></tr><tr><td>Mindtree Ltd</td><td>190.6</td><td>187.1</td><td>3/13/2009</td><td>1.87%</td></tr><tr><td>Alok Industries Ltd</td><td>11.55</td><td>11.33</td><td>3/17/2009</td><td>1.94%</td></tr></tbody></table><br />4) These are the names which are farthest from their 52 week low. <br /><br /><table><tbody><tr><td><span class="Apple-style-span" style="font-weight: bold;">Name</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Price</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year Low</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Year Low Date</span></td><td><span class="Apple-style-span" style="font-weight: bold;">Distance from Low</span></td></tr><tr><td>Matrix Laboratories Ltd</td><td>97.75</td><td>48</td><td>11/25/2008</td><td>103.65%</td></tr><tr><td>Dish TV India Ltd </td><td>24.6</td><td>11.75</td><td>10/27/2008</td><td>109.36%</td></tr><tr><td>Jindal Steel & Power Ltd</td><td>1101</td><td>517.3</td><td>10/27/2008</td><td>112.84%</td></tr><tr><td>National Aluminium Co Ltd</td><td>230.7</td><td>108.35</td><td>10/27/2008</td><td>112.92%</td></tr><tr><td>Birla Corp Ltd</td><td>170</td><td>71</td><td>10/27/2008</td><td>139.44%</td></tr><tr><td>AllCargo Global Logistics Ltd</td><td>694.65</td><td>271.85</td><td>10/31/2008</td><td>155.53%</td></tr><tr><td>Spice Communications Ltd </td><td>63.05</td><td>23.25</td><td>3/24/2008</td><td>171.12%</td></tr><tr><td>Akruti City Ltd</td><td>1577.8</td><td>550.05</td><td>1/15/2009</td><td>186.85%</td></tr><tr><td>Satyam Computer Services Ltd</td><td>43.55</td><td>11.5</td><td>1/9/2009</td><td>278.69%</td></tr></tbody></table><br /><br /></div><div>Chart presenting number of stocks and their distance to 52 week low.</div><div><br /><div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgghXhSmaVlj7WHfOa6gSjZln1oGr-t57I3lEXkgwgRdWsV_T9hESQWjwzniwx9zZP2MoORbKhwLwIRwkJgogFiY5V-b7vimxRScwXcYUoGEzmq0tlEseh6cFMqmW_uNZXOHWE5BICeMV6W/s1600-h/52weeklow.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgghXhSmaVlj7WHfOa6gSjZln1oGr-t57I3lEXkgwgRdWsV_T9hESQWjwzniwx9zZP2MoORbKhwLwIRwkJgogFiY5V-b7vimxRScwXcYUoGEzmq0tlEseh6cFMqmW_uNZXOHWE5BICeMV6W/s400/52weeklow.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5314442525401650690" style="display: block; margin-top: 0px; margin-right: auto; margin-bottom: 10px; margin-left: auto; text-align: center; cursor: pointer; width: 400px; height: 345px; " /></a>Chart presenting number of stocks and their distance to 52 week high.</div><div><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgK42SmBMej6CV8WJxElEPcilLihETGghm-nOXAjAtjIpEdi8X7CtwV9MMzFxD-FFzHr3TAVPkvNi7SnqjAgPVZCtF2D3GcJZ5HVTHXyudON_9d5aS7RTLo21xxfXYrTnrgd1Xto1JV42u3/s1600-h/52weekhigh.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgK42SmBMej6CV8WJxElEPcilLihETGghm-nOXAjAtjIpEdi8X7CtwV9MMzFxD-FFzHr3TAVPkvNi7SnqjAgPVZCtF2D3GcJZ5HVTHXyudON_9d5aS7RTLo21xxfXYrTnrgd1Xto1JV42u3/s400/52weekhigh.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5314442514326930578" style="display: block; margin-top: 0px; margin-right: auto; margin-bottom: 10px; margin-left: auto; text-align: center; cursor: pointer; width: 400px; height: 297px; " /></a><br /><div><br /></div></div></div></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-44994360378027792492009-03-13T12:59:00.000+05:302009-03-13T13:00:11.122+05:30Declining Inflation<span class="Apple-style-span" style="font-family: 'Times New Roman'; "><div style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; width: auto; font: normal normal normal 100%/normal Georgia, serif; text-align: left; "><div>Inflation for the latest week came down to 2.43%. It is little better than I estimated <a href="http://newspp.blogspot.com/2009/03/easing-inflation.html">below</a>. But still if WPI number doesn't improve in the coming week then most likely inflation will dip below 0 by March end as I have calculated and shown earlier. Current level of inflation is lowest since June 2002. This is attributed to the record fall in the factory output. <div>Now I present the historical graph of Inflation in India since 1995. </div><div><br /></div></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq9p11jUDpKcqcQGe_i6r3-rWwW4AFnB4rC3f2DWkgjSXEEVzoDvNnAqw51wR80E3df6CdOd2rM3XXUSnxAdUawR7EKUNNKgldDIXK_xFzMqoBa_ouPIG-86DABteGZdo1XcxGTjsGA5-y/s1600-h/Declining+Inflation.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq9p11jUDpKcqcQGe_i6r3-rWwW4AFnB4rC3f2DWkgjSXEEVzoDvNnAqw51wR80E3df6CdOd2rM3XXUSnxAdUawR7EKUNNKgldDIXK_xFzMqoBa_ouPIG-86DABteGZdo1XcxGTjsGA5-y/s400/Declining+Inflation.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5312568438182895570" style="display: block; margin-top: 0px; margin-right: auto; margin-bottom: 10px; margin-left: auto; text-align: center; cursor: pointer; width: 400px; height: 197px; " /></a><br /><div>The highlights of Inflation in India since 1995:<br /></div><div>1) Lowest inflation was in February 2002, when inflation was at 1.13%.</div><div>2) Peak of 2000 can be attributed to the .com bubble when IT companies flooded India.</div><div>3) In February 2008, Inflation was at peak of 12.91%. </div><div><br /></div><div>Please give suggestions, analysis, information if you have on this topic. <br /></div><div><br /></div></div></span>Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-4679445206317851004.post-86855451870677245882009-03-10T15:19:00.000+05:302009-03-10T17:55:58.391+05:30Easing Inflation<div><br /></div><div>Continuing my previous blog on inflation <a href="http://newspp.blogspot.com/2008/12/inflation.html">below</a>. Here is current inflation graph.<br /></div><div><br /></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0N7ihnCmNCiTNHBM3kGY2h2X-IobQkoN19le1PNdnIhB18dRtUnGL2uc5UhlxxHuR9WgbZygFBiZr7tTJxCUg5PIecbCUQTCt3DT4thjFV8lqMvLpLGlqJBUkm9oBCR0KbEFZIwSKJSBY/s1600-h/inflation.JPG"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 400px; height: 268px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0N7ihnCmNCiTNHBM3kGY2h2X-IobQkoN19le1PNdnIhB18dRtUnGL2uc5UhlxxHuR9WgbZygFBiZr7tTJxCUg5PIecbCUQTCt3DT4thjFV8lqMvLpLGlqJBUkm9oBCR0KbEFZIwSKJSBY/s400/inflation.JPG" alt="" id="BLOGGER_PHOTO_ID_5311504278493892338" border="0" /></a><br /><div>We see a steep drop in inflation resulting out of falling crude price which results in lowering price of commodities. Series duty cuts again eased the inflation. It is expected that by March end inflation could come to Zero!<br /></div><div><br /></div><div> Here is the calculation how inflation can very well cross 0. This is the inflation calculation for last month. Our WPI is decreasing constantly leading to lowering of inflation. WPI till 21/02/2009 is known. Now lets assume that WPI for following weeks remain constant at 227.6 (as it is constantly decreasing so in best case assume it doesn't decrease). So we see inflation for first week of March would be 2.38% and 0.84% for the second week of march. This is because there is a small jump in the inflation same time last year. So even if current WPI remains constant but when it is compared to a higher number the inflation figure comes down. And hence we very well see negative inflation by March end. This is the best case scenario, inflation can get to zero much before if WPI keeps falling.<br /><br /><table><tbody><tr><td style="font-weight: bold;">Date</td> <td style="font-weight: bold;">WPI</td> <td style="font-weight: bold;">Date</td> <td style="font-weight: bold;">WPI</td> <td style="font-weight: bold;">Inflation</td> </tr><tr><td>07/02/2009</td> <td>228</td> <td>09/02/2008</td> <td>219.4</td> <td>3.92%</td> </tr><tr><td>14/02/2009</td> <td>227.8</td> <td>16/02/2008</td> <td>220.4</td> <td>3.36%</td> </tr><tr><td>21/02/2009</td> <td>227.6</td> <td>23/02/2008</td> <td>220.9</td> <td>3.03%</td> </tr><tr><td><br /></td> <td><br /></td> <td><br /></td> <td><br /></td> <td><br /></td> </tr><tr><td><br /></td> <td><br /></td> <td><br /></td> <td><br /></td> <td><br /></td> </tr><tr><td><br /></td> <td>227.6</td> <td>01/03/2008</td> <td>222.3</td> <td>2.38%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>08/03/2008</td> <td>225.7</td> <td>0.84%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>15/03/2008</td> <td>226.4</td> <td>0.53%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>22/03/2008</td> <td>226.6</td> <td>0.44%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>29/03/2008</td> <td>226.7</td> <td>0.4%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>05/04/2008</td> <td>227.8</td> <td>-0.09%</td> </tr><tr><td><br /></td> <td>227.6</td> <td>12/04/2008</td> <td>228.2</td> <td>-0.26%</td> </tr></tbody></table><br />In my next blog I will explain impact of inflation less than 0 called 'Deflation'.<br /><div><div><br /></div></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-12428087037576771872009-03-04T20:17:00.000+05:302009-03-05T17:02:16.090+05:30Another Stimulus Package: Rate cutsReserve Bank of India cut Repo and Reverse Repo Rate by 50 bps. Repo rate, the rate at which central bank (RBI) lends to banks is now at 5%. Reverse Repo is the rate at which central bank takes money from banks is now at 3.5%. This was very much expected for quite some time with growth as a key issue and inflation quite low (As Rate cuts can take inflation higher, but inflation is already at a low of 3.2% now) RBI cut rates to infuse more credit. Banks are now expected to cut lending rates. Though there is no change to CRR, as RBI believes there is enough liquidity in the system.<br /><br />This Rate cut is done after worse than expected figures across the globe. The global cues for this were:<br /><ol><li>US real GDP contracted sharply at an annualised rate of 6.2% in the fourth quarter of 2008</li><li>Unemployment rate in the US has moved up to 7.6%</li><li>The real GDP in the euro area also declined by 1.5% in the fourth quarter of 2008</li><li>Japanese exports fell by 45.7% in January 2009</li><li>Japanese economy also contracted sharply by 3.3% in the fourth quarter of 2008</li></ol><br />In short the major effect of these cuts could be:<br /><ol><li>Cheaper loans and lower deposit rates by banks</li><li>Better GDP figures for the 4th quarter</li><li>Increase in inflation by small amount</li><li>Weakening INR against USD</li></ol>There have been series of rate cuts since Dec '08:<br /><table><tbody></tbody><tbody><tr><td>Reverse repo rate (%)</td><td></td></tr><tr><td>Jun 8 ‘06</td><td>5.75</td></tr><tr><td>Jul 25 ‘06</td><td>6</td></tr><tr><td>Dec 8 ‘08</td><td>5</td></tr><tr><td>Jan 2 ‘09</td><td>4</td></tr><tr><td>Mar 4 ‘09</td><td>3.5</td></tr></tbody><tbody></tbody></table><br /><table><tbody></tbody><tbody><tr><td>Repo rate (%)</td><td></td></tr><tr><td>Oct 20 ‘08</td><td>8</td></tr><tr><td>Nov 3 ‘08</td><td>7.5</td></tr><tr><td>Dec 8 ’08</td><td>6.5</td></tr><tr><td>Jan 2 ‘09</td><td>5.5</td></tr><tr><td>Mar 4 ‘09</td><td>5</td></tr></tbody><tbody></tbody></table>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-42994201668593910852009-03-02T15:41:00.000+05:302009-03-10T13:00:06.104+05:30INR, Crude<div style="text-align: center;"><br /></div><div><span class="Apple-style-span" style="font-weight: bold; ">INR </span><div>1) INR which was getting stronger at 40 at this time last year is now struggling at 52 and some says the situation could get worse and INR could reach 55. </div><div>2) This benefits exporters as they are paid in $ so they got more INR for their products.</div><div>3) This also favors IT industry as most of the out sourced work is paid in $. But IT companies hedge themselves against rising INR by buying 6 months to 12 months future. So this fall of INR might not help them. </div><div>4) Also in the current time of global recession exports are already low and Obama's protectionist policy is already affecting Indian IT. </div><div>5) Currently INR bid/ask = 51.6/51.62</div><div>6) The Indian finance ministry has begun a public competition to select a design for the symbol of the rupee! </div><div><a href="http://news.bbc.co.uk/2/hi/south_asia/7925248.stm">http://news.bbc.co.uk/2/hi/south_asia/7925248.stm</a><br /></div><div><br /></div><div>This is historical performance of Indian Rupee: </div></div><div><br /></div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0SNrEiASjmddmMCYOTwqxgpsdwb8dG66Q1RR0TqyUxC-eiEgWc9yuDGzwjobCa_Cm79KNW0GrnHFKnFiW6hanXElsGWgiuVOYGZya7bbyX91yfe_oo6KKsbhWByrJEMlsyBLp0Si6ClX4/s1600-h/INR.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 188px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0SNrEiASjmddmMCYOTwqxgpsdwb8dG66Q1RR0TqyUxC-eiEgWc9yuDGzwjobCa_Cm79KNW0GrnHFKnFiW6hanXElsGWgiuVOYGZya7bbyX91yfe_oo6KKsbhWByrJEMlsyBLp0Si6ClX4/s400/INR.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5311451025080599298" /></a><br /><div><span class="Apple-style-span" style="font-weight: bold; ">Crude Oil</span><br /></div><div>1) Crude was falling freely for quite some time. It now shows some sign of improvement after production cut by OPEC. </div><div>2) Reached 47.07 a barrel from 40.15 a barrel in a week. </div><div>3) 1 Barrel is 42 Gallons or 159 Lts (US liquid Gallon is equal to 3.7854 Lts)</div><div>This is historical performance of Crude Oil:<br /></div><div><br /></div><div><br /></div><div><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiT0mHGNMX9zWszEy4Pyjw_Kwrz2vzYfekPvMO00eYWe3vFzaYBxIGEZenP9hY5D1mE0I7js5XYFqUBHFuY7m5aVQO2gpNZasaHOiDzije3lfvZ1aFlsYgTv2Wxj3Gk7iyuzkJimkEq0N-5/s1600-h/Crude.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiT0mHGNMX9zWszEy4Pyjw_Kwrz2vzYfekPvMO00eYWe3vFzaYBxIGEZenP9hY5D1mE0I7js5XYFqUBHFuY7m5aVQO2gpNZasaHOiDzije3lfvZ1aFlsYgTv2Wxj3Gk7iyuzkJimkEq0N-5/s400/Crude.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5311453404502519266" style="display: block; margin-top: 0px; margin-right: auto; margin-bottom: 10px; margin-left: auto; text-align: center; cursor: pointer; width: 400px; height: 191px; " /></a></div><div><br /><span class="Apple-style-span" style="font-weight: bold;"><br /></span><div><br /></div><div><br /></div><div><br /></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-49503495371091683772009-03-02T13:18:00.000+05:302009-03-05T17:02:48.153+05:30ADR<span style="font-weight:bold;">What is an ADR / GDR?</span><br /><br />Indian companies issue shares which are traded on Indian stock exchanges like BSE, NSE etc. These shares are sometimes also listed and traded on foreign stock exchanges like NYSE (New York Stock Exchange) or NASDAQ (National Association of Securities Dealers Automated Quotation).<br /><br />The company deposits a large number of its shares with a bank located in the country where it wants to list indirectly. The bank issues receipts against these shares, each receipt having a fixed number of shares as an underlying (Usually 2 or 4).<br /><br />These receipts are then sold to the people of this foreign country (and anyone who is allowed to buy shares in that country). These receipts are listed on the stock exchanges. They behave exactly like regular stocks – their prices fluctuate depending on their demand and supply, and depending on the fundamentals of the underlying company. These receipts, which are traded like ordinary stocks, are called Depository Receipts.<br /><br />Following are the major Indian ADRs:<br />Cognizant CTSH<br />HDFC Bank Ltd. HDB<br />ICICI Bank Ltd. IBN<br />iGATE Corp. IGTE<br />Morgan India Investment Fund . IIF<br />Infosys Technologies Ltd. INFY<br />Mahanagar Telecom MTE<br />Patni Computer PTI<br />Dr. Reddy's RDY<br />Rediff.com REDF<br />Satyam SAY<br />Sify Ltd. SIFY<br />Syntel Inc. SYNT<br />Tata Motors Ltd. TTM<br />Videsh Sanchar Nigam VSL<br />Wipro Ltd. WIT<br />WNS Ltd. WNS<br />The India Fund Inc. IFN<br />Sterlite Industries India Ltd. SLTUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-29451428504291847632009-02-28T14:37:00.000+05:302009-02-28T14:39:58.909+05:3028February2009<meta name="ProgId" content="Word.Document"><meta name="Generator" content="Microsoft Word 12"><meta name="Originator" content="Microsoft Word 12"><link style="font-family: times new roman;" rel="File-List" href="file:///C:%5CDOCUME%7E1%5CDhanu%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><link style="font-family: times new roman;" rel="themeData" href="file:///C:%5CDOCUME%7E1%5CDhanu%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><link style="font-family: times new roman;" rel="colorSchemeMapping" href="file:///C:%5CDOCUME%7E1%5CDhanu%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><!--[if gte mso 9]><xml> <w:worddocument> <w:view>Normal</w:View> <w:zoom>0</w:Zoom> <w:trackmoves/> <w:trackformatting/> <w:punctuationkerning/> <w:validateagainstschemas/> 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table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--> <p class="MsoNormal" style="font-family:times new roman;"><span style="font-weight: bold;font-size:100%;" >GDP growth of Indian at 5.3%</span><span style="font-size:100%;">
<br /></span></p><p style="font-family: times new roman;" class="MsoNormal"><span style="font-size:100%;">GDP growth of India (12 largest GDP of the world) is estimated at 5.3% for the October –December 2008 quarter, which is a 6 year low. This is mainly caused by </span><span style="font-size:100%;">2.2% decline in agricultur and </span><span style="font-size:100%;">0.2% decline in manufacturing sector.
<br /></span></p> <p style="font-family: times new roman;" class="MsoNormal"><span style="font-size:100%;">First 9 months of this Fiscal GDP growth now is 6.9% (Q1: 7.9%, Q2: 7.6%, Q3: 5.3%). Projected growth for this year was 7.1%. Now to get this projected growth last quarter should have 7.7% growth. Considering recession, growth of last quarter is expected to be around 5% and so we"ll miss the projected growth by quite a margin.
<br /></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;"><span style="font-weight: bold;">How GDP is calculated?</span>
<br /></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;">The method of Calculating India GDP is the expenditure method, which is, <o:p></o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;">GDP = consumption + investment + (government spending) + (exports-imports) <o:p></o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;">i.e. GDP = C + I + G + (X-M)</span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;"> The other two methods of calculating GDP are Product wise (Calculating the total production) and Income wise (Calculating the total incomes received by factors of production - labour & capital)</span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;"><o:p> </o:p>Meanwhile, US economy shrunk by 6.2% for the same period of October-December 2008. This is its worst hit since 1982.
<br /></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;">
<br /></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;font-family:times new roman;"><span style="font-size:100%;"><o:p> </o:p></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style="font-size:100%;"><o:p><span style="font-weight: bold;">INR at 51.12 against Dollar</span>
<br /></o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style="font-size:100%;">INR reached its all time low of 51.12 per dollar. This is mainly due to heavy demand for dollars. Dollar gained against Euro and Pounds yesterday. So, this gave opportunity to investors to buy dollars from India and sell it outside. Widening of Fiscal deficit from 2.5% to 6% already led Re to fall below 50 mark.</span><span style=";font-size:100%;" > </span><span style="font-size:100%;">Taking measures for growth RBI may further cut rates. This will further bring Re down. Another impact would be on inflation which has already reached to a low of 3.2%. We might see further fall in inflation in view of rate cuts and annualisation factor. </span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style="font-size:100%;"><o:p> </o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style="font-size:100%;"><o:p> </o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style="font-size:100%;"><o:p> </o:p></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal; font-family: times new roman;"><span style=";font-size:100%;" > </span></p> Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-78039934424076618662009-02-26T12:58:00.001+05:302009-02-26T18:08:01.653+05:30List of CEOs of major Indian CompaniesMany a times we want to know CEO/Chairman of some major Indian company. I have compiled a list that would be lot helpful. Let me know if there is any correction or if I missed anything.<br /><br /><table> <tbody><tr><td><b>Company</b></td> <td><b>CEO/Chairman</b></td></tr><tr><td> ADAE</td> <td>Anil Ambani </td></tr><tr><td> Air Deccan </td> <td>GR Gopinath </td></tr><tr><td> Apollo Tyres</td> <td>Neeraj Kanwar </td></tr><tr><td> Ashok Leyland</td> <td>R Seshasayee </td></tr><tr><td> Asian Paints</td> <td>Ashwin Dani </td></tr><tr><td> AV Birla Group</td> <td>Kumar Mangalam Birla </td></tr><tr><td> AZB Partners</td> <td>Zia Mody </td></tr><tr><td> Bajaj Auto</td> <td>Rahul Bajaj </td></tr><tr><td> Bank of Baroda</td> <td>MD Mallya</td></tr><tr><td> Bharat Forge</td> <td>BN Kalyani </td></tr><tr><td> Bharat Petroleum</td> <td>Ashok Sinha </td></tr><tr><td> Bharti Enterprises</td> <td>Sunil Mittal </td></tr><tr><td> Biocon</td> <td>Kiran Mazumdar Shaw </td></tr><tr><td> Birla Corp</td> <td>RS Lodha </td></tr><tr><td> Bombay Dyeing</td> <td>Jeh & Ness Wadia </td></tr><tr><td> Britannia</td> <td>Vinita Bali </td></tr><tr><td> BSNL</td> <td>AK Sinha </td></tr><tr><td> Cadbury India</td> <td>Bharat Puri </td></tr><tr><td> Cipla</td> <td>YK Hamied </td></tr><tr><td> Cromptom Greaves</td> <td>Gautam Thapar </td></tr><tr><td> Dabur </td> <td>VC Burman </td></tr><tr><td> Dr. Reddy's Labs</td> <td>K Anji Reddy (Chairman)</td></tr><tr><td> Dr. Reddy's Labs</td> <td>GV Prasad (CEO)</td></tr><tr><td> EID Parry </td> <td>SM Datta</td></tr><tr><td> Essar Group</td> <td>Shashi Ruia </td></tr><tr><td> GAIL</td> <td>UD Choubey</td></tr><tr><td> Godrej Group</td> <td>Adi Godrej </td></tr><tr><td> Gujarat Ambuja Cement </td> <td>NS Sekhsaria, Suresh Neotia</td></tr><tr><td> HCL Technologies</td> <td>Shiv Nadar (Chairman), Vineet Nayar (CEO)</td></tr><tr><td> HDFC</td> <td>Deepak Parekh </td></tr><tr><td> Hero Group </td> <td>Brij Mohal Lall Munjal </td></tr><tr><td> Hinduja Group</td> <td>SP Hinduja </td></tr><tr><td> Hindustan Petroleum</td> <td>Arun Balakrishnan</td></tr><tr><td> HSBC India </td> <td>Naina Lal Kidwai </td></tr><tr><td> Hyundai India</td> <td>BVR Subbu </td></tr><tr><td> ICICI Bank</td> <td>Chanda Kochar</td></tr><tr><td> ICICI Prudential </td> <td>Shikha Sharma </td></tr><tr><td> ICICI Ventures</td> <td>Renuka Ramnath </td></tr><tr><td> Infosys Technologies</td> <td>Nandan Nilekani * Narayan Murthy (co founder and chairman), Kris GopalKrishnan (CEO)</td></tr><tr><td> IOC</td> <td>Sarthak Behuria </td></tr><tr><td> Ispat Industries</td> <td>VK Mittal </td></tr><tr><td> ITC</td> <td>Yogesh C Deveshwar </td></tr><tr><td> Jet Airways</td> <td>Naresh Goyal </td></tr><tr><td> Kotak Mahindra Bank</td> <td>Uday Kotak </td></tr><tr><td> Larsen & Toubro</td> <td>AM Naik </td></tr><tr><td> Mahindra & Mahindra </td> <td>Keshub Mahindra, Anand Mahindra </td></tr><tr><td> Maruti Udyog</td> <td>RC Bhargava</td></tr><tr><td> Microsoft India</td> <td>Ravi Venkatesan </td></tr><tr><td> Motorola India</td> <td>FV Vandrewala </td></tr><tr><td> Nicholas Piramal</td> <td>Ajay Piramal </td></tr><tr><td> Nirma</td> <td>Karsanbhai Patel </td></tr><tr><td> ONGC</td> <td>R.S. Sharma</td></tr><tr><td> Pantaloon Retail</td> <td>Kishore Biyani </td></tr><tr><td> Pepsi Co. </td> <td>Rajeev Bakshi </td></tr><tr><td> Ranbaxy</td> <td>Malvinder Singh Mohan</td></tr><tr><td> Raymond</td> <td>Gautam Singhania </td></tr><tr><td> Reliance Industries</td> <td>Mukesh Ambani </td></tr><tr><td> Reserve Bank of India </td> <td>Subbarao</td></tr><tr><td> RPG Group</td> <td>Harsh Goenka </td></tr><tr><td> SAIL</td> <td>SK Roongta</td></tr><tr><td> Satyam Computers </td> <td>Kiran Karnik(Chairman), A.S. Murthy (CEO)</td></tr><tr><td> SEBI </td> <td>Bhave</td></tr><tr><td> Shoppers' Stop</td> <td>BS Nagesh </td></tr><tr><td> Standard Chartered</td> <td>Jaspal Bindra </td></tr><tr><td> Star TV India</td> <td>Peter Mukerjea </td></tr><tr><td> State Bank of India</td> <td>OP Bhatt</td></tr><tr><td> Tata Group</td> <td>Ratan Tata </td></tr><tr><td> Tata Steel </td> <td>B Muthuraman </td></tr><tr><td> TCS</td> <td>S Ramadorai </td></tr><tr><td> UB Group</td> <td>Vijay Mallya </td></tr><tr><td> Videocon Industries</td> <td>Venugopal Dhoot </td></tr><tr><td> Wipro</td> <td>Azim Premji (Chairman), Girish Paranjpe & Suresh Vaswani (joint CEOs) </td></tr><tr><td> Yes Bank</td> <td>Rana Kapoor </td></tr><tr><td>Zee Telefilms</td> <td>Subhash Chandra </td></tr><tr><td>Hindalco Industries</td> <td>Kumar Mangalam Birla </td></tr><tr><td>NTPC</td> <td>R.S. Sharma</td></tr><tr><td>Oracle Financial Services Software (i-flex)</td> <td>Rajesh Hukku</td></tr><tr><td>Spicejet</td> <td>Sanjay Aggarwal</td></tr></tbody></table>Unknownnoreply@blogger.com48tag:blogger.com,1999:blog-4679445206317851004.post-66379814525292455362009-02-25T11:12:00.000+05:302009-02-25T14:42:36.761+05:3025February2009<span class="Apple-style-span" style="font-weight: bold;">Duty cut of 2%</span><div>Using every privilege it has to lure voters just before code of conduct for the next general elections is applicable, Finance Minister Mr. Pranab Mukherjee announced 2% cut in excise duty. This will be in addition to the 4% excise duty cut made in December and will continue in the next Fiscal. Note here that the duty cut is only for the items with current excise duty at 10%. There are other slabs with duty more than 10% and other at 4%, though these are not affected. But the items with 10% duty (which now will be at 8%) are 96% of all. So more or less this cut is across the commodities. There is 2% cut in the service tax as well, bringing it down from 12% to 10%. So we see cut in bills if the benefit is transferred to consumer. </div><div><br /></div><div><span class="Apple-style-span" style="font-weight: bold;">S&P Lower India Rating<span class="Apple-style-span" style="font-weight: normal;"></span></span></div><div><span class="Apple-style-span" style="font-weight: bold;"><span class="Apple-style-span" style="font-weight: normal;">Standard & Poor’s (S&P) lowered the outlook for </span><st1:country-region st="on"><st1:place st="on"><span class="Apple-style-span" style="font-weight: normal;">India</span></st1:place></st1:country-region><span class="Apple-style-span" style="font-weight: normal;">’s credit rating from stable to negative (BBB-) indicating higher possibility of a downgrade. The revision has increased expectations of a rate cut aimed at boosting sentiment. S&P’s revised outlook has came less than three weeks after it said <st1:country-region st="on">India</st1:country-region> will be the second-fastest growing economy after <st1:country-region st="on"><st1:place st="on">China</st1:place></st1:country-region>. But economy prospects and fiscal position are separate issues. India fiscal deficit was as high as 6% as against 2.5% expected budget deficit. Also with the current duty cuts (mentioned above) there will be higher fiscal deficit. Note here that on the same ratings (Long term debt, Local currency) some other countries stands as:</span></span></div><div>Pakistan: CCC+</div><div>Sri Lanka: B+</div><div>Kazakhstan: BBB</div><div>Israel: AA-</div><div>Jordan: BBB</div><div>Russia: BBB+</div><div>US: A+</div><div>Australia, New Zealand: AAA</div><div>China: A+</div><div>Hong Kong: AA+</div><div>Singapore: AAA</div><div>Argentina: B-</div><div>Brazil: BBB+</div><div>Venezuela: BB-</div><div>France, Germany, Ireland, Portugal, Netherland, Switzerland, UK, Sweden, Norway: AAA</div><div>Iceland: BBB+</div><div><br /></div><div><span class="Apple-style-span" style="font-weight: bold; ">SEBI clearance for Satyam sale<span class="Apple-style-span" style="font-weight: normal; "></span></span></div><div><span class="Apple-style-span" style="font-weight: bold; "><span class="Apple-style-span" style="font-weight: normal; ">SEBI has laid the way for Satyam to issue preferential shares at a price which can be lower than what rules allowed till now. At present, the pricing of a preferential issue is based on the average price of the stock for two weeks or six months, whichever is higher, from the relevant date (which is 30 days prior to shareholders’ approval). This is now relaxed to two weeks average price.</span></span></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-65548078992575274792009-02-18T14:01:00.000+05:302009-02-18T15:25:10.662+05:30National Rural Employment Guarantee Act<span class="Apple-style-span" style="font-weight: bold;">Introduction</span><div><ul><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px;">Government of India under Prime Minister Manmohan Singh launched NREGA on 25th August 2005. <br /></span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">NREGA aimed to provide work to people living below <a href="http://en.wikipedia.org/wiki/Poverty_line" title="Poverty line" class="mw-redirect" style="text-decoration: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; "><span class="Apple-style-span" style="color: rgb(0, 0, 0); ">poverty line</span></a> in rural India.</span><br /></li><li><span class="Apple-style-span" style="font-size: 13px; font-weight: bold; line-height: 19px; "><span class="Apple-style-span" style="font-weight: normal; ">The NREGA provides a <span class="Apple-style-span" style="color: rgb(204, 0, 0); ">legal guarantee</span> for <span class="Apple-style-span" style="color: rgb(204, 0, 0); ">one hundred days</span> of employment in every financial year to adult members of any rural household willing to do public work </span><span class="Apple-style-span" style="font-weight: normal; ">related unskilled manual work at the <span class="Apple-style-span" style="color: rgb(204, 0, 0); ">statutory minimum wages</span>. </span></span><br /></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">Central Government shall meet the cost towards the payment of wage, 3/4 of material cost and certain percentage of administrative cost. </span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">State Government shall meet the cost towards unemployed allowance, 1/4 of material cost and administrative cost of State council.<br /></span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">Adult members of rural households submit their name, age and address with photo to the Gram Panchayat. The Gram panchayat registers households after making enquiry and issues a job card. <br /></span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">The employment will be provided within a radius of 5 km: if it is above 5 km extra wage will be paid.<br /></span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; ">TATA Consultancy Services, India's largest IT/ITES sector company has designed the software solution for the state of Andhra Pradesh. NIC, a government of India undertaking, developed solution has been implemented in other areas.<br /></span></li><li><span class="Apple-style-span" style="font-size: 13px; line-height: 19px;">Wages paid would be through a saving bank account in local bank or post office. Government is trying hard to ban wages payment through cash.</span></li></ul><div><span class="Apple-style-span" style="font-size: 13px; line-height: 19px; "><span class="Apple-style-span" style="font-weight: bold;">Facts</span></span></div><div><span class="Apple-style-span" style="font-size: 13px; font-weight: bold; line-height: 19px; "><span class="Apple-style-span" style="font-weight: normal; line-height: 15px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; ">Under NREGA, rural labourers have a legal entitlement not only to work on demand but also to minimum wages. To prevent corruption, a wide range of transparency safeguards has been built into the Act. For example, muster rolls are supposed to be kept at the worksite, displayed at the Panchayat Bhawan, and read out in public at the time of wage payments. Employment and wage details also have to be entered in the labourers’ 'Job Cards', to enable them to verify the records for themselves. Contractors are totally banned.</span><br /></span></div><div><span class="Apple-style-span" style="font-size: 13px; line-height: 15px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; ">At the gram panchayat level, the main responsibility for implementing NREGA works lies with the Panchayat Executive Officer (PEO). Another key actor is the Village Labour Leader (VLL), who is supposed to be selected by the gram sabha for the purpose of 'supervising' a specific worksite.</span><br /></div><div><span class="Apple-style-span" style="font-size: 13px; line-height: 15px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; ">VLLs were there with Sampoorna Grameen Rozgar Yojana (SGRY), a predecessor of NREGA. At that time, the VLL was a <em>de facto </em>contractor. He or she received the work orders, spent the funds, arranged the works, and filled the muster rolls. Under NREGA, funds are routed through the panchayat and the VLL is supposed to be a mere worksite supervisor, who earns wages at the same rate as other labourers.</span></div><div><span class="Apple-style-span" style="font-size: 13px; line-height: 15px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;"><br /></span></div><div><span class="Apple-style-span" style="font-size: 13px; line-height: 15px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;"><span class="Apple-style-span" style="font-weight: bold;">Current Status of NREGA</span></span></div><div><ul><li><span class="Apple-style-span" style="font-family: verdana; font-size: 13px; line-height: 16px; ">Barely 3.2 per cent of the registered households could avail of 100 days of employment in one year '06-'07.</span><br /></li><li><span class="Apple-style-span" style="font-family: verdana; font-size: 13px; line-height: 16px;">Average employment provided under the scheme was just 18 days in the same year block.<br /></span></li><li><span class="Apple-style-span" style="font-family: verdana; font-size: 13px; line-height: 16px;">Rural population, even Government not aware of the scheme.</span></li><li><span class="Apple-style-span" style="font-family: verdana; font-size: 13px; line-height: 16px;">Discrepancy in muster roll prepared by the team leader.</span></li></ul></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-74546531824415437032009-01-14T11:23:00.000+05:302009-01-14T13:22:35.505+05:3014January2009After a long gap, I am again back to update this blog. Long list of events happened since my last update:<div>1) Satyam Fiasco: A lot said and known already in all daily newspapers, channels. </div><div><span class="Apple-tab-span" style="white-space:pre"> </span>What happened actually? </div><div><span class="Apple-tab-span" style="white-space:pre"> </span>How and how much the Satyam books were cooked? <br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>Why the Books were cooked?<br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>Why the fraud was accepted now? <br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>Who was benefitted? <span class="Apple-tab-span" style="white-space:pre"></span></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>What was the role of PWC? <span class="Apple-tab-span" style="white-space:pre"></span></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>What next?<span class="Apple-tab-span" style="white-space:pre"> </span><br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span><br /></div><div>2) Wipro banned by World Bank.</div><div><span class="Apple-tab-span" style="white-space:pre"> </span>What happened? <br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>Whats industry practice?<br /></div><div><span class="Apple-tab-span" style="white-space:pre"> </span>Azim Premji's clearance.<br /></div><div><br /></div><div>3) Infosys Q3 results much better than expected. </div><div><br /></div><div>4) Inflation continue to roll down. Now less than 6%. </div><div><br /></div><div>I will proceed from here tomorrow onwards! </div><div><br /></div><div><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-23407832664592639012008-12-19T10:00:00.000+05:302008-12-19T10:37:24.543+05:3019December2008<span style="font-weight: bold;">Inflation in India at 9 months low</span><br />Inflation dropped to 6.84% for the week ending on 6th December. This is mainly because of the fall of crude oil which was reflected in other commodities. This downturn of inflation would continue as the base effect <span style="font-style: italic;">(comparing to last year) </span>would help it to be low. Other reason for the reduction in inflation is the excise rate cut and good crop this season.<br />Reducing inflation figures caused the bond yield down in hopes of interest rate cuts. (<span style="font-style: italic;">Bond's yield is inversely proportion to interest rates) </span><br /><br /><span style="font-weight: bold;">Quick Update</span><br />Sensex crossed 10,000 mark.<br />Rupee getting stronger. INR was at 50.35 on 1Dec, 49.57 on 8Dec, 48.05 on 15Dec and 46.89 on 18Dec.<br />Crude goes further down to $36.22 a barrel falling 9.59% yesterday and 8.12% day before.Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-22844063319964167662008-12-18T10:12:00.000+05:302008-12-18T13:00:02.407+05:3018December2008<span style="font-weight: bold;">Fed cuts rates again</span><br />The US Federal Reserve cut its target for overnight interest rates to a range of 0-0.25%. This now closes option for any further rate cut. The Fed also said it would expand its policy of buying mortgage-backed securities to support the housing market and that it was now considering the benefits of purchasing long-term treasury bills – a move first used by President Franklin Roosevelt in the Great Depression to push down long-term interest rates.<br /><script type="text/javascript"><!-- google_ad_client = "pub-5031751136442275"; /* half banner in content */ google_ad_slot = "8655911874"; google_ad_width = 234; google_ad_height = 60; //--> </script><script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script><script src="http://googleads.g.doubleclick.net/pagead/test_domain.js"></script><script>window.google_render_ad()</script><span style="font-style: italic;">A treasury bill is taditionally a short term zero coupon bond i.e. they do not pay interest. They are instead issued at a discount to their face value. Like any Government bonds there is very little risk attached to investing in treasury bills. Default risk on a government's borrowings in its own currency is low enough to be regarded as zero. </span><br /><br /><span style="font-weight: bold;">Gloom at Wall Street</span><br />Morgan Stanley posted a $US2.2 billion fourth-quarter loss, wider than the most pessimistic analyst's estimate, as it unexpectedly wrote down the value of fixed-income businesses and lost money in all three of its main divisions.<br /><br />Goldman Sachs, the 139-year-old investment bank reported its first quarterly loss since becoming a public company 10 years ago. For the period ended <chron>November</chron>, Goldman reported a fourth-quarter net loss of <money>$2.12 billion</money>, or <money>$4.97</money> a share, compared with net income of <money>$3.22 billion</money>, or <money>$7.01</money> a share, a year earlier.<br /><br /><span style="font-weight: bold;"> OPEC cuts oil production</span><br />Organisation of the Petroleum Exporting Countries (OPEC) yesterday decided to pull an extra 2.2 million barrels per day (bpd) out of production from 1 January. This aimed to put a floor on crude price at $43 a barrel. It seems the news is not taken positively as crude is now trading at $39.8 a barrel.<br /><br /><span style="font-weight: bold;">TATA on Ferrari</span><br />Tata will be riding on Ferrari in coming season of Formula -1. Soon we"ll see Tata logo on F-1 cars of Felipe Massa and Kimi Raikkonen. This comes as a 'historic' news as claimed by Ferrari management. Tata on the other hand believes it as one of the cheapest way to get promotion globally.<br /><br /><span style="font-weight: bold;">Satyam</span> (contd. from yesterday)<br />Satyam share in India fell by 30% yesterday at close. ADRs soar up 50% after Satyam called off the deal. Maytas Infrastructure fell by 20% yesterday and its further down 20% today. One costly mistake has caused Satyam promoters 600 crores.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-50727554975127436692008-12-17T10:14:00.001+05:302008-12-17T12:11:07.981+05:3017December2008<b>Bernard Lawrence Madoff FraudulenT<br /></b>In what could be the biggest Ponzi scam of all time, Bernard L. Madoff got arrested on 11thDecember2008. He was amongst the most active in NASDAQ and served as its chairman of the board of directors, and on its board of governors. <span style="font-style: italic;">A Ponzi scheme is a fraudulent investment that involves paying abnormally high returns to investors out of the money paid in by subsequent investors, rather than from the profit from any real business.<span style="text-decoration: underline;"></span></span><span style="text-decoration: underline; font-style: italic;"></span><span style="font-style: italic;"></span><b><span style="font-weight: bold;"><span style="font-weight: bold;"><span style="font-weight: bold;"></span></span></span><br /></b>Madoff's fraud may involve up to $50 billion in cash and affect many financial institutions, charities, funds, funds of funds of the world.<br />Madoff had a remarkable track record of success year after year. A hedge fund run by Madoff described its strategy as focused on shares in the S&P index, averaged a 10.5 percent annual return over the past 17 years. In November 2008, amid a general market collapse, the fund reported that it was up 5.6 percent that month, while the S&P 500-stock index fell 38 percent.<br />Hedge funds typically hold their portfolio at a securities firm (typically a major bank or brokerage) whereas Madoff's firm was its own broker-dealer and supposedly processed all its trades.<sup id="cite_ref-Berenson_30-1" class="reference"><a href="http://en.wikipedia.org/wiki/Bernard_Madoff#cite_note-Berenson-30" title=""><span></span><span></span></a></sup><span style="text-decoration: underline;"></span> Although Madoff was a pioneer of electronic trading, he refused to provide his clients online access to their accounts.<sup id="cite_ref-Appelbaum_9-7" class="reference"><a href="http://en.wikipedia.org/wiki/Bernard_Madoff#cite_note-Appelbaum-9" title=""><span></span><span></span></a></sup> He sent out accounting statements by mail, whereas most hedge funds statements and allowed them to be downloaded via computer for easier analysis by investors.<br /><br /><span style="font-weight: bold;">Satyam Maytas</span><br />Satyam board pushed a deal to buy Maytas Infrastructure and Maytas Properties, spending $1.6 bn from cash rich Satyam systems. Satyam founder and Chairman B Ramalinga Raju and other insiders hold 36 percent in Maytas Infra and 35 percent in Maytas Properties. Analysts questioned the motives of Satyam's top executives, saying there was a potential conflict of interest because they hold stakes in both companies. This was severely criticised causing Satyam ADR to fell by 55% (<span style="font-style: italic;">ADR: Stock of Indian Company listed in American Exchange). </span>Finally the board bowed to investor pressure and canceled plans to spend $1.6 billion to buy two builders.<br />The acquisitions made little sense at a time when technology outsourcing companies are preserving cash to <a id="KonaLink1" target="undefined" class="kLink" style="text-decoration: underline ! important; position: static;" href="http://economictimes.indiatimes.com/Satyam_bows_to_investors_drops_16_bn_deal/articleshow/3849219.cms#"><span style="color: blue ! important; font-family: Arial,Helvetica,sans-serif; font-weight: 400; font-size: 12px; position: static;color:blue;" ><span class="kLink" style="color: blue ! important; font-family: Arial,Helvetica,sans-serif; font-weight: 400; font-size: 12px; position: static;"></span></span></a> help weather the global economic slowdown. Considering there are no synergies that could boost buying of realty sector industries by IT company. It would be interesting to see if at all Satyam may win back the confidence of investors.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-41899319618987383332008-12-16T10:19:00.000+05:302008-12-16T11:33:55.650+05:3016December2008<span style="font-weight: bold;">Cheaper Home Loan</span><br />Buying a Home has become cheaper for Low/Middle income group and in smaller towns. All of 28 Public sector Banks in India have decided to lower the interest rates on home loans and loans for small and medium enterprise, however with some conditions.<br /><br />Under the scheme launched, interest rate on home loans up to Rs 5 lakh, for a maximum period of 20 years, will not exceed 8.5 per cent for the first five years. However, if interest rates changes further then lower of two will be applicable. The margin for this been reduced to 10 per cent, from the current 20-25 per cent. This means that now a buyer can get 90% of home amount as loan.<br />Similarly interest rate on loans up to Rs 20 lakh for a maximum period of 20 years has been fixed at 9.25 per cent and the margin has been reduced to 15 per cent. Also there will be a free insurance cover for this loan. Pvt. Banks viz. ICICI and HDFC haven't responded to this yet.<br />More so, this can't be a big relief to realty sector. Hardly anyone takes 5-20 Lakh loans in metros, or even tier B cities. This makes sense for Public Sector Banks whose majority of customers are those asking for 15-20 Lakh Loans, with average of 7-8 Lakh.<br />Existing customers are not entitled for this scheme. This is because this measures are taken to boost demand for home and help struggling realty sector.<br /><br />Banks also said they are reducing the interest rate on loans to micro enterprises by 0.5% and small and medium enterprises by 1%. Both existing and new customers will benefit from the move, which comes into immediate effect.<br /><span style="font-weight: bold;"></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-48326866994349009652008-12-06T18:42:00.000+05:302008-12-07T10:51:38.264+05:30Inflation<p class="MsoNormal">Everyday we talk about inflation, few months back this was the biggest hurdle for Finance minister. Inflation was rocketing high. Now we read that as inflation is easing Government can take measures to improve growth etc. But how exactly does it all work? </p> <p class="MsoNormal">Let us start with defining inflation. Inflation is an increase in the prices of goods and services in an economy over a period of time. As everyone understands inflation increases means increase in the price and vice versa. Actually the concept is little deeper. We’ll understand this well when we’ll see how it is calculated.</p> <p class="MsoNormal">There are two ways to calculate Price Indices:<span style=""><span style=""></span></span></p><p class="MsoNormal"><span style=""><span style=""><span class="Apple-style-span" style="font-size: medium;">1)</span><span style="Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:";"><span class="Apple-style-span" style="font-size: medium;"> </span></span></span></span><span class="Apple-style-span" style="font-size: medium;">Wholesale Price Index, </span><i style=""><span class="Apple-style-span" style="font-size: medium;">WPI: </span></i><span class="Apple-style-span" style="font-size: medium;">WPI is the index that is used to measure the change in the average price level of ‘goods traded in wholesale market’. India has taken WPI as an indicator of the rate of inflation in the economy.<span style=""><span style=""></span></span></span></p><p class="MsoNormal"><span style=""><span style=""><span class="Apple-style-span" style="font-size: medium;">2)</span><span style="Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:";"><span class="Apple-style-span" style="font-size: medium;"> </span></span></span></span><span class="Apple-style-span" style="font-size: medium;">Consumer Price Index, CPI: CPI is a weighted average of prices of a specified set of goods and services ‘purchased by consumers’. It is a price index that tracks the prices of a specified set of consumer goods and services, providing a measure of inflation. CPI is the official measure of inflation in many countries such as the United States, the United Kingdom, Japan, France, Canada, Singapore and China.</span></p> <p class="MsoNormal" style="margin-left: 0.25in;"><span class="Apple-style-span" style="font-size:medium;">India is the only major country that uses a wholesale index to measure inflation. The WPI has an All Commodities Index, which consists of three major groups – </span><span style=""><span style=""><span class="Apple-style-span" style="font-size:medium;"></span></span></span></p><p class="MsoNormal" style="margin-left: 0.25in;"><span style=""><span style=""><span class="Apple-style-span" style="font-size:medium;">1)</span><span style="Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:";"><span class="Apple-style-span" style="font-size:medium;"> </span></span></span></span><span class="Apple-style-span" style="font-size:medium;">Primary Articles; </span><span style=""><span style=""><span class="Apple-style-span" style="font-size:medium;">2) </span><span class="Apple-style-span" style="font-size:medium;"><span style="Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:";"></span></span></span></span><span class="Apple-style-span" style="font-size:medium;">Fuel, Power, Light & Lubricants; and </span><span style=""><span style=""><span class="Apple-style-span" style="font-size:medium;">3)</span><span style="Times New Roman"; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:";"><span class="Apple-style-span" style="font-size:medium;"> </span></span></span></span><span class="Apple-style-span" style="font-size:medium;">Manufactured Products.</span></p> <p class="MsoNormal" style="margin-left: 0.25in;">These are again broken up into smaller sub-groups. For instance, the primary articles group would have food articles, non-food articles and minerals. Each of these sub-groups would have several individual commodities in them.<br /><br />This WPI tracks prices of 435 commodities, of which 98 are primary articles, 19 in the fuel, power, light & lubricants group and 318 are in the manufactured products group.<br /><br />The current index, which uses 1993-94 as its base year, has weights of 22.025 for primary articles, 14.226 for fuel etc and 63.749 for manufactured products.</p> <p class="MsoNormal"><b style="">Calculation of Inflation<o:p></o:p></b></p> <p class="MsoNormal">Inflation is calculated point to point compared to last year. WPI figure is released every week. Base year us taken as 1993-94 where WPI is taken as 100. Current WPI is compared with WPI exactly 52 weeks back. These are the values of WPI of last year and this year:</p> <p class="MsoNormal"><o:p> </o:p></p> <table class="MsoNormalTable" style="width: 275pt; margin-left: 5.4pt; border-collapse: collapse;" width="367" border="0" cellpadding="0" cellspacing="0"> <tbody><tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">Week No.<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">Date<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">WPI<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">Date<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">WPI<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">1<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">5/1/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">217.6<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">6/1/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">208.7<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">2<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">12/1/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">217.8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">13/01/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">208.7<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">19/01/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">218.2<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">20/01/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">208.9<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">26/01/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">219<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">27/01/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">2/2/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">218.8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">3/2/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">208.9<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">6<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">9/2/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">219.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">10/2/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">16/02/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">220.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">17/02/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">208.6<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">23/02/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">220.9<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">24/02/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">9<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">1/3/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">222.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">3/3/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">10<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">8/3/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">225.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">10/3/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">11<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">15/03/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">226.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">17/03/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">209.6<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">12<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">22/03/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">226.6<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">24/03/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">210.1<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">13<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">29/03/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">226.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">31/03/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">210.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">14<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">5/4/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">227.8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">7/4/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.5<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">15<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">12/4/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">228.2<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">14/04/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">16<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">19/04/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">228.9<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">21/04/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.5<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">17<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">26/04/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">229.1<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">28/04/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.6<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">18<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">3/5/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">230.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">5/5/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">19<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">10/5/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">230.6<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">12/5/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">20<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">17/05/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">230.8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">19/05/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">21<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">24/05/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">231.2<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">26/05/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">22<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">31/05/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">232.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">39119<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.5<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">23<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">7/6/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">236.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">9/6/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.8<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">24<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">14/06/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">236.9<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">16/06/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">211.9<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">25<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">21/06/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">237.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">23/06/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">26<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">28/06/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">238.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">30/06/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">212.8<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">27<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">5/7/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">239.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">7/7/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">28<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">12/7/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">239.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">14/07/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.6<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">29<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">19/07/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">240.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">21/07/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.7<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">30<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">26/07/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">240.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">28/07/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.9<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">31<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">2/8/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">4/8/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.8<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">32<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">9/8/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.1<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">11/8/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.7<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">33<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">16/08/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.1<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">18/08/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.7<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">34<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">23/08/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.2<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">25/08/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">213.9<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">35<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">30/08/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.4<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">39091<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">214.8<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">36<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">6/9/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">8/9/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">37<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">13/09/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">15/09/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">38<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">20/09/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">22/09/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.2<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">39<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">27/09/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">241.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">29/09/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">40<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">4/10/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">239.6<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">6/10/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">41<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">11/10/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">238.8<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">13/10/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">42<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">18/10/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">238.3<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">20/10/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">43<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">25/10/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">238.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">27/10/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">44<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">1/11/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">235.5<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">3/11/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.1<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">45<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">8/11/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">235<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">10/11/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.8<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">46<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">15/11/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">235.1<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">17/11/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">47<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">22/11/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">233.7<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">24/11/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">215.6<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">48<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">29/11/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"></td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">39094<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">49<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">6/12/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"></td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">8/12/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.3<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">50<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">13/12/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"></td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">15/12/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">51<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">20/12/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"></td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">22/12/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.4<o:p></o:p></span></p> </td> </tr> <tr style="height: 15pt;"> <td style="padding: 0in 5.4pt; width: 51.8pt; height: 15pt;" valign="bottom" width="69" nowrap="nowrap"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">52<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">27/12/2008<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"></td> <td style="padding: 0in 5.4pt; width: 48.8pt; height: 15pt;" valign="bottom" width="65" nowrap="nowrap"></td> <td style="padding: 0in 5.4pt; width: 55.75pt; height: 15pt;" valign="bottom" width="74"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">29/12/2007<o:p></o:p></span></p> </td> <td style="padding: 0in 5.4pt; width: 31.45pt; height: 15pt;" valign="bottom" width="42"> <p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style="color:black;">216.7<o:p></o:p></span></p> </td> </tr> </tbody></table> <p class="MsoNormal"><o:p> </o:p></p> <p class="MsoNormal">How inflation is calculated? For example we will get inflation for this week i.e. week number 47.<span style=""> </span>Inflation_47 = (WPI_47_2008-WPI_47_2007)/WPI_47_2007 = (233.7-215.6)/215.6~8.4%. Important thing to note is inflation is always calculated compared so same week exactly a year back. </p> <p class="MsoNormal">This is how inflation for the year looks: </p><p class="MsoNormal"><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdXhhvW3IsZpeAo54baZhW-oSXQ8A2BkGon37zsE4ZqHjZfeeRb373iLEtKwRz738R76Mzwwe-0CnaGKTx31IJLUGXpBptQbMQaHbK_lP9vlUdoNPQ3rp9E_KOUd234nKVXHt2MJveRKum/s1600-h/untitled.JPG"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdXhhvW3IsZpeAo54baZhW-oSXQ8A2BkGon37zsE4ZqHjZfeeRb373iLEtKwRz738R76Mzwwe-0CnaGKTx31IJLUGXpBptQbMQaHbK_lP9vlUdoNPQ3rp9E_KOUd234nKVXHt2MJveRKum/s320/untitled.JPG" border="0" alt="" id="BLOGGER_PHOTO_ID_5276913633127962290" style="cursor: pointer; width: 320px; height: 192px; " /></a><br /></p> <p class="MsoNormal"><span style=""><v:shapetype id="_x0000_t75" coordsize="21600,21600" spt="75" preferrelative="t" 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This is mainly attributed to increasing crude price in that period. Fuel price were increased in period of June-July. This led to increase in transport cost leading to increasing in vegetable prices and other commodities. </p> <p class="MsoNormal">Normally, high inflation is linked to higher money supply in the market. Think it this way, when there is high money supply this means purchasing power of people increases which leads to increase in prices. As we see, inflation is easing since September 2008. This gives Finance Ministry + RBI an opportunity to take steps for growth. Hence, they are more comfortable in decreasing interest and rates cut recently hence increasing the money supply in the system.</p>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4679445206317851004.post-38958280779609159922008-12-03T12:55:00.000+05:302008-12-03T16:02:35.450+05:303December2008<span style="font-weight: bold;">RBI to ease Rates, Interest</span><br />In order to infuse liquidity in the system Govt. has set up a committee to discuss on reducing Repo Rates, Reverse Repo and Interest Rates. <span style="font-style: italic;">(Its important to note that RBI controls money supply in the system with these rates. Like, in order to increase the liquidity in the system RBI can cut Rates (Repo, Reverse Repo) and/or Interest Rates. In layman's terms, if interest rates come down more people will take loans at cheaper available rates. Hence, there is more money in the market. This means, higher purchasing ability and in turn might lead to higher inflation. With inflation easing for a month now, Govt. might not care about it and like to safeguard Financial system) </span><br />Repo rate is rate at which RBI lends money to Bank. Reverse Repo, on the other hand is the rate at which RBI takes deposits from Bank. Currently, Repo rate is at 7.5% and Reverse Repo is at 6%. Committee targets cut Repo rate by 1.5% and Reverse Repo by 2%.<br />Cash Reserve Ratio (CRR) is proportion of cash banks have to keep with central banks. Cut in CRR means Banks can lend more. In a way, Banks can cut rates to provide loans at cheaper rate. This would also mean that Banks will cut deposit rates as well to safeguard the Bank's margin. Most of the Banks have already cut the deposit rates by 50 basis points (1 basis point = 0.01%)<br /><br /><span style="font-weight: bold;">Closed End Mutual Fund to be listed on Exchanges</span><br />Closed End Mutual Fund may have to be listed on the Exchange. This is to safeguard fund houses from the institutional investors, FIIs who take out investments abruptly and premature. Now when these are listed, fund houses don't bear the impact. This is in view of current situation when RBI had to open for banks to let Mutual Funds access to banks funds. Now investor who wish to premature exit have to find the buyer at exchange.<br /><br /><span style="font-weight: bold;">NSE vs MCX</span><br />For the first time there is an open fight of country's leading exchanges. NSE has put FT (Financial Technologies) on watchlist. NSE's decision has blocked sale of softwares of FT to brokers, vendors. FT is promoter of MCX. MCX is leading commodity Exchange of the country, with Mr. Jignesh Shah as the Chairman. Recently these two bourses came face to face for currency future trading in which people believe 'trader driven' MCX is performing better than NSE.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-47193499031068333452008-12-02T10:02:00.000+05:302008-12-02T10:35:33.334+05:302December2008<span style="font-weight: bold;">BSE Sectoral Indices</span><br /><span style="font-style: italic;">(1Dec08)</span>The day started with a ray of hope clearing the dark clouds of terrorist attack. Sensex opened 70 points up in line with asian markets showing mixed performances, mostly flat. Even when other sectors were in blue, BSEAuto Index was in red throughout the day. This is in view of dropping auto sales in fear of recession and Maruti Suzuki and Hero Honda taking the biggest hit of the day. Auto Index fell by almost 5% intra day and closed 4.64% down finally. In this fear of recession, it is most likely to fall further and gain new lows.<br />Another sector taking the toll is Realty. BSERealty sector has seen the most wide spread intraday. It gained +4.4% intraday and then reached -6.4% at day's low. DLF weighing 43% in the index caused the major set back when finally it closed 5.34% down.<br />Overall it was a day when all the sectors suffered. BSEBank went down 3.87%, ICICI bank causing the major damage. IT sector was 1% down. Important to note that Infosys weighs 56% in the index. Mid cap and small cap were better than Sensex. Mid cap down 1.36% and small cap down 0.21% better than sensex which closed at 2.78%.<br />Sensex opened firmly in blue. But immediately after Europe market opened in red, domestic market taking cue dived sharply.<br /><br /><span style="font-weight: bold;">Markets worldwide</span><br />S&P500 closed down 8.9%, Nasdaq down 8%, Dow Jones Industrial Average down 7.7% marked the summary of US markets crashing. Amongst the financial stocks, Citigroup fell 22.2%, Morgan Stanley 23% and Goldman Sachs 17%. This figures sounds very scary as this would affect asian markets. Nikkei <span style="font-style: italic;">(2dec08) </span>already 5% down, Hang Sang 5%, Sensex also opened weak down 2.6%.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-27302616669414442952008-11-26T10:05:00.000+05:302008-11-26T16:43:56.383+05:3026November2008<span style="font-weight: bold;">Sensex Performance</span><br />Sensex opened firm up at 9160.5 gaining 2.89% over previous close of 8903.12 in reports of federal bailout of citi group. Market were steady intra day reaching high of 9182.8. But as happening for quite some time markets open up, then FIIs who are seeking opportunity to bank on every rally, began selling and the market dips towards the end. Finally Sensex closed at 8695.53, down 2.33% from yesterday's close before reaching intra day low of 8649.4. Biggest index movers were Reliance Industries and State Bank of India which contributed 111.6 points drop of the 207.6 points drop of sensex.<br /><br /><span style="font-weight: bold;">Fuel price cut in India</span><br />There is some good news for Indians burdened by the inflation. Government has announced Fuel prices cut, but cant execute it before elections in states get over. Opposition, namely BJP and Left are crying it foul as it can please the voters and breach the election code of conduct. This would come as a big relief as announcement is for Rs. 5 per liter petrol, Rs. 2 per liter diesel and Rs. 50 per cylinder of LPG. This was highly predicted as crude is already at $50 per barrel and government has raised fuel prices on 4th June when it was at $120-$130 per barrel and Indian oil companies were struggling hard for survival. Since then crude raised to its high of $145.29 a barrel on 3rd July but since then declined steadily and broke $100 barrier on 15th September <span style="font-style: italic;">(The date which divided world in two parts, pre 15th Sep and post 15th Sep) </span>Crude broke the barrier of $50 on 20th November and hence it was getting very much hopeful by the government to cut prices.<br /><br /><span style="font-weight: bold;">Citigroup</span><br />This has been a very happening week for Citigroup. Citi, which never sleeps (by the virtue of its presence in vast geography) was on the brink of death. Few days after citi announced laying off 50000 odd employees, the boss, CEO Vikram Pandit himself was finding it tough to hold ground.<br />Citi shares lost ~58% in a week from 17th-21st November and pressure was constantly building on it. On 24 November U.S. government announced a huge bailout of Citigroup to rescue the company from bankruptcy. Treasury will provide $20 billion in troubled asset relief fund in addition to $25 billion given in October. Government also guarenteed $300 billion in assets. In return the bank will give to government $27 billion of preferred shares and warrants to acquire stock. Preferred share will pay 8% annual return. The government will obtain wide powers over banking operations. Executive salaries, dividends will be capped. Citi gained 57.82%, on 24th November as single day movement.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4679445206317851004.post-65839410178398712352008-11-21T10:52:00.000+05:302008-11-21T11:41:58.958+05:3021November2008<span style="font-weight: bold;">US mkt down by more than 6.7%<br /><br />Crude fall below $50</span><br /><br /><span style="font-weight: bold;">Rupee Fall further to 50.175 per $</span>Unknownnoreply@blogger.com0