Technical Outlook: Bullish bias shows followthrough...

Market Outlook: Indian markets are expected to open on the positive note and trade range 5800-5880 while On the global space US markets end higher on jobs report; euro, oil up too and Asian markets trade higher; Hang Seng, Shanghai up 1%. Overall outlook for the markets today is that of cautious optimism with 5800 levels as a major support.

Global events to watch

Þ Employment Index

Þ Jobless Claims

Þ Chicago PMI

Þ Factory Orders

Global indices Update @ 8:

Dow Jones : 12376 (+56.99)

NASDAQ : 2789 (+08.53)

Nikkei 225 : 9778 (+69.89)

Hang seng : 24055 (+253.4)

SGX CNX Nifty : 5875 (+10.00)

Gold (USD/t oz.) : 1431 (+02.40)

Nymex Crude (F) : 108.5 (+00.65)

INR / 1 USD : 44.65

Technical Outlook: Bullish bias shows followthrough...

Friday was a rather dull affair but what was important about the day's trading was that it managed to hold on to the gains made during the week and created yet another up day, making it two weeks in a row of rising trends. There is no doubt that after such a frenetic 10-day run, the trends would certainly be at an overbought or stretched state and therefore it is most logical to expect some sort of a pullback or at least a consolidation in the indices. But the scenario could be shifting to non-index stocks and that may create a new domino of its own, especially if the mid and small cap stocks get into a trot.

Now, that seems quite likely if one takes a look at the mid cap index as well as the charts of many of the stocks. There appears to be either some brisk upward price action or even some accumulation patterns in certain stocks that is suggestive of a return of interest to this area. In this week we don't really have any market moving events or newsflows. hence we are likely to see fund flows as well as localised concentration of demand supply as the main mover of prices. This is more easily achieved in the small and mid cap space and hence we would recommend readers to shift their attention also to this segment. The time for momentum investing could be making a comeback.

Considering however, that most people have their money stuck in some non performing stock or the other, there are two choices. Either exit from some of them (mostly, booking a loss) or get new money. Depending on which is more convenient, one should play the coming week. Mid cap stocks in the Futures space too should see some good action. Expecting the Nifty to run somewhat range bound, albeit with an upward bias, one should be looking for shorting Puts as one of the ways to play the market ahead. Alternatively, if the action slows down even more than expected, then shorting straddles and strangles of ATM strikes could also prove to be an effective way of handling this week.

Monthly pivot is at 5615 while weekly pivot is at 5575. The daily pivot for today is at 5860. While the former two are to be used as support buy levels during the week, we can use the daily pivot level to gauge how to position ourselves in the market during the day. There is enough overhead room still left in the market for day traders to still play long on upside breakouts. But understand that the higher we go the greater the risk. Address that and then enter.

STRATEGY FOR THE DAY: Intra day dips are to be looked upon as buying opportunities. A narrow range of 5835-5870 has been built up. Look for this range to be resolved as one of the pointers for day trades. Positional players need to be using bigger dips into support as buying opportunities. Shift focus towards mid cap stocks and check out the ones that are staging volume led advances. Try finding news in some of these names as those are the ones that would be in play.

Stocks to buy if market is strong

GREAT OFFSHORE

Shipping counters managed to sail along on Friday and this counter did particularly well.The strong breakout on volumes saw a fantastic closing to the week. With daily charts showing healthy signals of buying emerging after some consolidation one can consider some buying opportunities today.

Entry	Stop	Target
Buy around 270-272	3 point	275 / 278 / 280
Or dips to 266	3 points	270 /273 / 275

THERMAX

This engineering counter has shown some upward traction as it broke out from its range displaying a buing participation on Friday. The sustained volumes indicate that buying interst is still evident pushing prices higher. The higher top higher bottom formation invites us to go long in this counter.

Entry	Stop	Target
Buy above 634	5 points	640/644/647
Or dips to 629	5 pointS	635/639/642

Stocks to sell if market is weak

SKF INDIA
The bears have stuck into this counter as they are not allowing any recovery attempted in this counter. As prices neared its prior top they were overwhelmed with supplies triggering a collapse. The steady fall resulted in support around 575 being broken decisively.The declining momentum suggests shorts.

Entry	Stop	Target
Sell below 565	5 points	558 / 554 / 551
Rallies near 571-573	5 points	564 / 560 / 557

NIFTY RECOMMENDATIONS FOR THE DAY

Buy Nifty above 5875 stop 5835 for tgt 5920.

Buy Nifty on dips near 5775 stop 5760 for rise to 5840.

Stocks in Action for the day: Siemens, JSW Steel, United Spirits, Wipro

Wipro: -To buy global oil & gas tech info arm of SAIC for USD 150 million -Wipro says to add 1,450 staff through SAIC deal -Hope to strengthen energy business operations via SAIC operations buy Wipro says: On CNBC-TV18 -Energy identified as vertical for organic, inorganic growth -Post acquisition, revenues from Europe, US will be nearly equal -Expect deal to be completed this quarter -SAIC will carve out this business, closure in 45-60 days -Deal also involves buying out arms in Europe, Oman

CBI sources say -Charge sheet names 9 persons & 3 companies -Charge sheet filed under sec 420, 120B, 13(2)B of PC ACT -125 witnesses, 654 documents, 12 accused part of chargesheet CNBC-TV18 Alert: Swan Telecom was associate firm of Reliance Telecom

2G charge sheet arrives in court in 7 steel trunks -Special court begins hearing; CBI charge sheet submitted -Gautam Doshi, Sanjay Chandra, Vinod Goenka named: sources -Shahid Balwa, A Raja, S Behura, RK Chandolia named -Balwa, Behura, Chandolia, Raja produced in court

2G case hearing: -Lawyer faults CBI probe on several counts Balwa's lawyer says CBI prejudiced in approach -Balwa's lawyer says Swan not a beneficiary from FCFS policy -Balwa's lawyer says Swan has no connection with Reliance Comm -Swami's lawyer seeks copy of charge sheet, defense opposes

Divestment Update -PFC FPO likely May 1st week, PFC RHP likely April 3rd week -ONGC, SAIL FPOs likely in Q1 :: -IndianOil FPO not likely before year-end -Finance Ministry prepares cabinet note for NBCC IPO -10% divestment likely in NBCC -MMTC, RINL FPOs also likely in FY12

DoT says got court order staying on Idea-Spice Merger -Idea says will resist dot's move to scuttle merger

NMDC -FY11 production of iron ore up 6% at 25.19mt -Iron ore sales up 9% at 26.33mt
-Turnnver likely to increase by 80%

DoT finalises Draft Broadband Policy: CNBC-TV18 exclusive -Draft Note Sent To Ministries For Discussion CNBC-TV18 alert Note incorporates TRAI broadband report Broadband policy may be sent to cabinet in a month

BSNL to be nodal agency to implement fibre rollout -Broadband policy execution divided in 3-phases -Execution of phase 2 & 3 to depend on need -DoT estimates 5 Lakh Km of additional optic fibre required -Optic fibre rollout to cost Rs 20,000 crore CNBC-TV18 alert -Network to connect all habitats with more than 500 CNBC-TV18 Exclusive -Fibre Infra to be equally available to all stakeholders

SC orders Glaxo India to pay Rs 71.2 crore for overpricing of the drugs scheduled under Drug price control order (ET)

Coal Ministry plans to invite bids for 58 coal blocks with over 18,600 million tonnes of reserves in six months (ET)

Temasek Holdings is in talks with TPG capital to buy a part of its stake in Shriram Transport Finance company for around Rs 2500 crore (BS)

-FDI in the Pharma sector of over 49% may require a go ahead from the Foreign Investment Promotion Board (FE)

-Hindusthan Glass Industries to finalize a strategic overseas acquisition in the pharma sector valued at around Rs 200-400 crore (Mint)

-United Spirits acquires 41.54% stake in Karnataka based Sovereign Distilleries for Rs 3.5 crore & (TOI)

-JSW Steel revives its plan to list on the London Stock Exchange (BS)

ACC March cement sales up 12.4% at 2.18 mt (YoY)

UltraTech cement March cement sales up 2.2% at 3.78 mt (YoY)

Ambuja Cement March cement sales at 2.05 mt versus 1.95 mt (YoY)

Hero Honda March total sales up 24% at 5.15 lakh units (YoY)

BEL FY11 turnover up 6.3% at Rs 5550 crore

Promius Pharma (Dr Reddys affiliate) and Valeant form collaboration to market cloderm cream in the United States'.

Siemens wins 2 contracts worth Rs 747 crore in consortium with Siemens AG, Germany

Myiris.com: Analysts take on AP Paper Mills - International Paper deal

International Paper has agreed to acquire 53.5% stake of promoters of Andhra Pradesh Paper Mills for all cash deal at USD 257 million and will be paying USD 104 million for acquiring additional 21.5% stake from other share holders. International Paper will pay USD 62 million non-compete fee for AP Paper.

We have collated views of analysts on the announcement of deal. The same is as under:

Kartik Mehta - AVP Equity Research, Sushil Finance:

AP Paper has created hope for re-rating of entire paper sector where earlier valuation were compressed. Paper demand in India is expected to grow at 8%+ CAGR for FY10-20E, compared to sluggish scenario is overseas markets. Also Indian paper companies generate higher return ratios (almost double) compared to global players in developed markets. In terms of per capita paper consumption, India scores very less at 8.5Kg compared to 63Kg, 227Kg, 55Kg and 45Kg of China, USA, World average and Asia average, respectively. With high growth in GDP, increasing literacy rate, education sector gaining importance and improving standard of living, growth in the paper industry is expected to remain robust. For example, an increase of 1 kg in the per capita consumption would absorb an additional production of 1.1 MTPA of paper.
International Paper has agreed to acquire 53.5% stake of promoters of AP Paper for all cash deal at USD 257mn and will be paying USD 104mn for acquiring additional 21.5% stake from other share holders. This gives per share valuation of AP Paper at Rs.632. This price is still 2.67 times higher than today’s closing price of Rs.236.15 on BSE. Hence we see AP Paper stock price to reach at least Rs.500+ considering all the remaining stake holders (46.5%) surrenders their shares implying 46% acceptance ratio by International Paper for acquiring additional 21.5% stake.

Prashanth Tapse, senior research analyst, Mehta Equities:

Shares of paper companies were overlooked from long time and saw suddenly in demand following to the International Paper’s acquisition of Andhra Pradesh Paper Mills. APPM is the country’s fifth largest paper producer by revenues behind Ballarpur Industries, JK Paper, Tamil Nadu Newsprint and the paper division of diversified firm ITC. The stock was in action from last couple of days mainly on the back of talks with world’s largest paper company International Paper for majority stake and last evening the deal was finalised to acquire 53.5% or entire promoters stake in mid size firm Andhra Pradesh Paper Mills Limited (APPM) for $257 million or Rs 1,150 crore in cash. Also agreed to a USD 62 million or Rs 2800 million non-compete payment to the sellers. International Paper will also coming out with a mandatory public tender offer and seeks to acquire up to an additional 21.5% of the outstanding shares of APPM for approximately USD 104 million or Rs 4700 million in cash. If totally successful as it is expected to be, International Paper will end up with 75% stake in the company, the maximum allowed in a listed firm.

On the data available on public grounds calculations show International Paper is paying a significant premium to the existing market price with the deal struck at around Rs 542 a share (not counting the non-compete fee to the Bangurs). The share purchase and public tender are expected to be completed by third quarter of 2011, after regulatory approvals. Once it’s completed, the transaction will position International Paper as the first global paper and packaging company with a significant position in India`s fast growing economy. We believe that the acquisition of APPM by International Paper will help industry to be re-rated which was once ignored and neglected. Hence we advised investors to hold on to there investments in paper industry as we expect some more deals to strike the industry as it is hovering around for better prospects. We seen AP Paper deal certainly brings focus onto the paper sector which had been missing. We like Ballarpur and TNPL for long term investment.

Shares of the company gained Rs 39.35, or 19.99%, to close at Rs 236.15. The total volume of shares traded was 10,619 at the BSE (Wednesday).

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Myiris.com: Analysts take on AP Paper Mills - International Paper deal

Myiris.com: Analysts take on AP Paper Mills - International Paper deal

Source: IRIS (30-MAR-11)

http://www.myiris.com/newsCentre/storyShow.php?fileR=20110330154719043&secID=fromnewsroom&secTitle=From%20the%20News%20Room&dir=2011/03/30

International Paper has agreed to acquire 53.5% stake of promoters of Andhra Pradesh Paper Mills for all cash deal at USD 257 million and will be paying USD 104 million for acquiring additional 21.5% stake from other share holders. International Paper will pay USD 62 million non-compete fee for AP Paper.

We have collated views of analysts on the announcement of deal. The same is as under:

Kartik Mehta - AVP Equity Research, Sushil Finance: AP Paper has created hope for re-rating of entire paper sector where earlier valuations were compressed. Paper demand in India is expected to grow at 8%+ CAGR for FY10-20E, compared to sluggish scenario is overseas markets. Also Indian paper companies generate higher return ratios (almost double) compared to global players in developed markets. In terms of per capita paper consumption, India scores very less at 8.5Kg compared to 63Kg, 227Kg, 55Kg and 45Kg of China, USA, World average and Asia average, respectively. With high growth in GDP, increasing literacy rate, education sector gaining importance and improving standard of living, growth in the paper industry is expected to remain robust. For example, an increase of 1 kg in the per capita consumption would absorb an additional production of 1.1 MTPA of paper. International Paper has agreed to acquire 53.5% stake of promoters of AP Paper for all cash deal at USD 257mn and will be paying USD 104mn for acquiring additional 21.5% stake from other share holders. This gives per share valuation of AP Paper at Rs.632. This price is still 2.67 times higher than today’s closing price of Rs.236.15 on BSE. Hence we see AP Paper stock price to reach at least Rs.500+ considering all the remaining stake holders (46.5%) surrenders their shares implying 46% acceptance ratio by International Paper for acquiring additional 21.5% stake.

Prashanth Tapse, Senior Research analyst, Mehta Equities: Shares of paper companies were overlooked from long time and saw suddenly in demand following to the International Paper’s acquisition of Andhra Pradesh Paper Mills. APPM is the country’s fifth largest paper producer by revenues behind Ballarpur Industries, JK Paper, Tamil Nadu Newsprint and the paper division of diversified firm ITC. The stock was in action from last couple of days mainly on the back of talks with world’s largest paper company International Paper for majority stake and last evening the deal was finalised to acquire 53.5% or entire promoters stake in mid size firm Andhra Pradesh Paper Mills Limited (APPM) for $257 million or Rs 1,150 crore in cash. Also agreed to a USD 62 million or Rs 2800 million non-compete payment to the sellers. International Paper will also coming out with a mandatory public tender offer and seeks to acquire up to an additional 21.5% of the outstanding shares of APPM for approximately USD 104 million or Rs 4700 million in cash. If totally successful as it is expected to be, International Paper will end up with 75% stake in the company, the maximum allowed in a listed firm.

On the data available on public grounds calculations show International Paper is paying a significant premium to the existing market price with the deal struck at around Rs 542 a share (not counting the non-compete fee to the Bangurs). The share purchase and public tender are expected to be completed by third quarter of 2011, after regulatory approvals. Once it’s completed, the transaction will position International Paper as the first global paper and packaging company with a significant position in India`s fast growing economy. We believe that the acquisition of APPM by International Paper will help industry to be re-rated which was once ignored and neglected. Hence we advised investors to hold on to there investments in paper industry as we expect some more deals to strike the industry as it is hovering around for better prospects. We seen AP Paper deal certainly brings focus onto the paper sector which had been missing. We like Ballarpur and TNPL for long term investment.

Shares of the company gained Rs 39.35, or 19.99%, to close at Rs 236.15. The total volume of shares traded was 10,619 at the BSE (Wednesday).

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

BOR: Market Outlook: Nifty will have positive opening today

Market Outlook: Nifty will have positive opening today on account of strong global cues. Nifty has supports at 4970-5000 and resistances are at 5150-5200.

Global Events to watch for today:

Þ Retail Sales

Þ Consumer Sentiment

Global indices Update @ 8:

Dow Jones : 10.172 (+273.2)

NASDAQ : 2218 (+59.86)

Nikkei 225 : 9733 (+02.00)

Hang seng : 19894 (+261.6)

SGX CNX Nifty : 5128 (+38.00)

INR / 1 USD : 46.98

Stocks in action for the day : Videocon, Spicejet, StanChart, NTPC, BHEL, HCC, HUL, HDIL, Jet Airways...

All eyes on next EGoM meet on fuel price issue likely on June 17: PTI

Listing of Standard Chartered IDR today, issue price at Rs 104 ((Last traded at pound 16.49, translates into Rs 1129.60; 10 IDRs represent one share, so translates into Rs 112.96 as listing price))

Videocon in talks with Korea`s SK Telecom for offloading 26% stake: Videocon Telecommunications has started talks with Korea`s Sun Kyung (SK) Telecom to sell a 26% stake, the latest attempt by it to bring in a foreign partner for its fledgling mobile phone services. The founding Dhoot family wants Rs 36 billion from the sale, valuing Videocon Telecommunications at a little over Rs 130 billion (USD 3 billion), an executive with direct knowledge of the development told ET. But analysts are of the view that this may be asking for too much. VideoconTelecommunications has also been linked to a buyout by Mukesh Ambani`s Reliance Industries, whose board is believed to have recently authorised its re-entry into the telecoms space following the peace deal between the Ambani brothers.

Sun TV's Maran looks to buy stake in SpiceJet: Sources: SUN TV promoter Kalanidhi Maran is looking at picking up a stake in SpiceJet, reports CNBC-TV18 quoting sources. Maran, souces say, is looking to pick up the stake from WL Ross and India Asset Recovery Fund (IARF) and the deal is likely to be sealed in a few days. WL Ross and IARF will convert bonds in tranches to avoid open offer and this will start in a few days' time. On full dilution the WL Ross and IARFstake will be at 34.9%. FCCBs worth USD 80 m were issued to WL Ross and IARF. WL Ross alone was issued bonds worth USD 68 m while IARF was issued bonds were USD 12 m, both at a conversion price of Rs 25/ share. Among other stakeholders, one promoter Ajay Singh and his family hold 10% while Goldman Sachs holds around 6%. The other promoter, the Kansagra Family holds 12%, however over 50% of these shares are pledged.

RIL looks to acquire shale gas assets of US` Pioneer Reliance Industries (RIL) is considering buying a stake in shale gas assets owned by Pioneer Natural Resources, two people with knowledge of the matter said. Pioneer, based in Irving, Texas, and said last month that it expected to announce a JV for its Eagle Ford shale gas assets in the second quarter. Reliance, which acquired a stake in shale gas areas in the US from Atlas Energy in April for USD 1.7 billion, is joining Royal Dutch Shell and Exxon Mobil to buy unconventional gas reserves, anticipating that prices for the cleaner-burning fuel will recover. Shale-gas deposits were not considered worth tapping before Houston billionaire George P Mitchell pioneered new extraction techniques in the 1990s.

RIL eyes gas JV with US firm Two months after Reliance Industries bought a 40% stake in US-based Atlas Energy`s Marcellus Shale gas operations for USD 339 million, the Mukesh Ambani-led company has now set its eyes on a joint venture withPioneer Natural Resources . The Texas-based Pioneer had said last month that it expects to zero in on a partner for its Eagle Ford shale gas assets by the end of June. Pioneer Natural Resources has about 3.10 lakh acres in the Eagle Ford region in south Texas. It tested its first successful well in last October and the second one in January this year.

Honda to ramp up production of Activa by 300 units per day Honda Motorcycle & Scooter India (HMSI), the market leader in the scooters segment with over 50% share, is increasing the manufacturing capacity of its popular model Activa by 300 per day in a bid to reduce the five-month long wait period for the vehicle. ``We currently manufacture 2100 Activas per day at our plant Manesar plant in Haryana that will go up to around 2400 Activas per day,`` said Sharad Pradhan, regional head-west of HMSI. An Ahmedabad based dealer of HMSI two-wheelers, Punjab Honda, said that there was a high demand of more than 3000 Activas per month in the city and that it has been struggling to meet demand.

Surya group plans major investment in state The Surya Group of Companies is planning major investments, including setting up steel and cement plants along with a power plant, in Karnataka. The company had said it is looking at various funding options, one of which could be private equity (PE). Besides, the group is also investing Rs 1 billion on pipe and bulb plants in the state. Arvind Bansal, deputy managing director (operat-ions and corporate management), Surya Roshni toldBusiness Standard, the company is planning a steel plant with a capacity of 6 million tonnes per annum in Karnataka.

NTPC-BHEL JV aims to produce 5000MW equipment BHEL Power Projects on Thursday said it has submitted a detailed project report about the company`s work to the ministry of heavy industry and public enterprises. ``NTPC BHEL Power Projects (NBPPL) presented a Detailed Project Report (DPR) covering total scope of work to manufacture 5,000 MW capacity equipment a year,`` a company statement said. The report would work as a guideline for capital investment of Rs 60 billion to become a 5,000 MW company in the field of power generating equipment, it said.

Jet Airways -Carried 8.69 lakh revenue passenger in May 2010 (up 41% YoY) -Domestic load factor for may stood at 82.5% ((10% increase MOM)) -International seat factor stood 80.3% (up 5% YoY)

Bombay HC dismisses govt regulation on TDR Policy, cuts FSI back to 1, to benefit HDIL, DB

Realty, negative for other Mumbai based realty companies

Whirlpool of India, Sri Adhikari Brothers to be included in T2T Segemnt

Board meet today: Dish TV: restructuring of subsidiary

HUL: Board meet today on buyback of shares

LIC, 4 Banks likely to invest in Videocon ((Mint))

Eli Lilly said to be looking to Clinical Trial opportunities in India ((DNA))

HCC looking to sell 20%-30% in Infra Subsidiary ((DNA))

Network 18 to do away with cross-holdings – BS

Indian ADRs: Sterlite up 6%, Tata Comm up 5.6%

BOR: Market Outlook: Indian markets will have flat to positive opening today

Market Outlook: Indian markets will have flat to positive opening today on the back of mixed action seen on the global peers. Overall the trend is till intact up but there could be some exhaustion in it’s upmove and the market could stall around 5150-5200 levels. Support for Nifty at 4967-4892

Global Events to watch for today:

• International Trade
• Jobless Claims

Global indices Update @ 8:

Dow Jones : 9899 (- 10.73)

NASDAQ : 2158 (- 11.72)

Nikkei 225 : 9469 (+30.50)

Hang seng : 19565 (- 55.86)

SGX CNX Nifty : 5017 (+09.50)

INR / 1 USD : 46.98

Stocks in action for the day : R-Power, PowerGrid, Fortis Healthcare, Voltas, EIL, Orbit Corp, Essar Oil, HDFC Bk…

HDFC Bank to fix new base rate around 6%: Sources: Starting July 1, the banking industry will replace the prime lending rate with a new base rate. The introduction of the new base rate however looks set to see some stiff competition between banks. While most PSU banks are likely to follow leader SBI and go with abase rate around 8%, HDFC Bank may go with a base rate of as low as 6%,

Zain success holds key to Bharti's future growth: Bharti Airtel’s stock has seen a sharp movement in the past two trading sessions that followed the announcement of the closure of its mega acquisition of Zain Africa. After losing as much as 4% on bourses soon after the announcement on Tuesday, the stock dramatically recovered the next day. At the end of the trade on Wednesday, it gained nearly 6% even as the broader market remained more or less flat.

R-Power, Indonesia`s Sugico ink pact to acquire coal mines Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia`s Sugico Group to acquire three coal mines in a transaction that will involve a series of production-linked milestone payments. Reliance Power`s wholly-owned subsidiary, Reliance Coal Resources, will make an upfront payment of Rs 5 billion (USD106 million) for acquiring the mines. The balance payment will be paid in a staggered fashion depending on the mines meeting certain production targets. If all production-linked targets are met, the total value of the deal will be USD 1.6 billion.

Andrew Yule to foray into specialty teas Andrew Yule & Co is making a foray into the designer specialty tea segment to spruce up its margins in the current fiscal. These teas, which can fetch Rs 7,000 - Rs 15,000 per kg in the international market will be sold at high-street departmental stores like Harrods. A team from Harrods is now in Kolkata to hold talks with Andrew Yule for sourcing these exclusive designer teas for their store in London. On Wednesday, the company launched three new teas from its Darjeeling tea estate, Mim-Himalayan Delite (Darjeeling organic green tea), Mim Darjeeling organic tea and Mim Darjeeling specialty designer teas.

PowerGrid may sell 20% stake to raise Rs 80 bn Electricity transmission company PowerGrid Corporation may sell 20% to public that could raise Rs 80 billion, which may be equally split between the government andthe company , said two people familiar with the plans. This share sale will be pursued aggressively, since steelmaker SAIL`s fund-raising plans may be delayed due to compliance issues, they said. The government plans to sell 10% and Power Grid will issue new shares comprising 10% of post-issue capital to raise funds for expansion, which is estimated at Rs 550 billion, they added. The fund-raising target is a calculation based on current market price.

Fortis to raise Rs 27.5 bn via issue of securities The Fortis Healthcare board on Wednesday gave the company the go-ahead to raise Rs 27.5 billion through fresh issue of securities, including shares, and also increased the company`s borrowing limit to Rs 60 billion. The company did not specify the reason for raising fresh funds, but said ``all options to deal with potential investment opportunities have been kept open``. Analysts see this as a possible preparation for a counter bid for garnering more shares in the Singapore-headquartered Parkway Holdings. ``This is an indication for the first step to make a counter offer,`` said Vishal Gandhi, VP Life Sciences & Technology, YES Bank.

Pipavav to build world`s biggest dry dock Eyeing business from domestic and international shipping lines that ply through the busy sea route between Dubai and Colombo, Pipavav Shipyard (PSL) is all set to construct a new dry dock in Gujarat, which is expected to be the world`s biggest dock to undertake repair and maintenance of vessels operating in the region. Roughly the size of seven soccer fields, the dock will be bigger than Hyundai`s in South Korea.

RIL drawing up plans to foray into telecom space The board of Reliance Industries (RIL) is believed to have approved plans to enter the Indian telecommunications sector when the opportunity arises, two persons familiar with the development told ET. India`s largest private sector company is expected to go for only the lucrative corporate bandwidth market, or the business of selling telecom and internet services to companies rather than individuals. It is likely thatthe company could unveil its intent to foray into telecom at its annual general meeting on June 18, the people familiar with its plans said.

Regaliaa Realty lines up Rs 650 mn Chennai-based Regaliaa Realty is planning to invest around Rs 650 million in various hospitality and residential projects. The company, which is currently promoting mid and high-end residential projects, said it would also look at foraying into low-end housing projects.The company has set up 11 services apartments under the brand Homcourt at Nugambakkam here and is planning to add five more in the same location. ``In the next 24 monthsthe company is planning to take total number of service apartments to 100 with an investment of around Rs 150 million,`` said D Sudhakara Reddy, chairman and managing director, Regaliaa Realty.

RINL, NMDC in talks to set up pellet plant Rashtriya Ispat Nigam (RINL), the flagship company of Visakhapatnam Steel Plant (VSP), and NMDC on Wednesday held discussions for setting up a pellet plant through joint venture. The two chairmen and managing directors - PK Bishnoi and Rana Som of VSP and NMDC respectively -took part in the discussions. Transportation of fines in the form of slurry for pellet would reduce dependence on rail apart from reducing the burden on the existing logistics of the Kothavalasa-Kirandol line, VSP said in a press release.

Strides hits big with pfizer deal Strides Arcolab, an Rs 15 billion publicly-held pharma firm based in Bangalore, is reaping the benefits of its outsourcing deal with Pfizer. While the financial terms have not been disclosed, the quantum of the deal is visible from Strides paying in cash for its recent acquisitions. Strides have managed to payout nearly a third of the Rs 8.8 billion which it has to pay for its recent acquisitions. ``This indicates pretty good cash flow from the licensing deal with Pfizer,`` noted an analyst. In March 2010, Strides bought a 50% stake owned by South African generics drug maker Aspen Pharmaceuticals for USD 117 million (around Rs 5.31 billion) and also acquired Aspen`s unit in Brazil for USD 75 million, taking the cost of its acquisition to USD 192 million.

BHEL, Alstom tie-up to jointly bid for Chennai metro State-run BHEL has tied up with French firm Alstom to jointly bid for the Chennai metro project. ``We have signed in-principle agreement with Alstom for the Chennai metro project, but the equity portion is yet to be decided,`` the BHEL Chairman and Managing Director, B.P. Rao, told reporters here on Wednesday.

Parabolic Drugs to raise Rs 2 bn through IPO Parabolic Drugs (PDL), on Wednesday said that it plans to raise up to Rs 2 billion through an Initial Public Offerin g (IPO) that opens for subscription on June 14. The Chandigarh based contract manufacturer of active pharmaceutical ingredients (APIs) and API intermediates, will use the proceeds towards setting up new facilities, capacity expansion of existing ones and repaying debt, a top company official said. ``We plan to raise up to Rs 2 billion from the capital market. A part of the proceeds will go towards financing our capex plans and a part of it will be used to reduce our debt,`` PDL`s Executive Director, Vineet Gupta, told reporters here.

ONGC sees rise in insurance premium for offshore assets Oil and Natural Gas Corporation on Wednesday said it expects insurance premium for offshore assets to rise sharply following an oil leak in the Gulf of Mexico that has been described as the worst in the US history. ``Insurance costs are going to go up exponentially around the world. We anticipate that our insurance premium next year will rise exponentially,`` said R S Sharma, CMD., ONGC.

Sabero's growth prospects appear attractive: The crop protection major, Sabero Organics Gujarat (SOGL), has done exceedingly well on the bourses following its improved financial performance. Its stock has more than doubled in a span of one year, way ahead of the benchmark Sensex performance.

Fortis get shareholders' nod for selling 6.5% stake to GIC: Hospital chain Fortis Healthcare today said its shareholders have approved selling 6.58 per cent stake in the company to Singapore-based private equity firm GIC for Rs 380 crore. The stake sale has been carried through preferential allotment of 2.23 crore equity shares. extra-ordinary general meeting held today approved the allotment of 2.23 crore equity shares of Rs 10 each at a premium of Rs 160 to Lathe Investment Pte Ltd, an affiliated investment vehicle of GIC Special Investment.

Ex-dates: today HDFC Bank : Ex dividend Rs 12/share-ICICI Bank : Ex dividend Rs 12/share-Infotech Enterprise : Ex-Bonus 1:1

Engineers India FPO expected to hit market by July-end, ((Expected to raise Rs 1,100-1,200 crore or 10% dilution)

Lanco group & Edelweiss Capital made a bid in the range of Rs 30-45 crore to acquire Axis Bank's PE firm

Fatpipe IPO extends closing date to June 14 from June 9 and revises price band to Rs 80-85 (versus Rs 82-85)

ACC cement despatches for May at 1.75 million tons versus 1.82 million tons (YoY)

Essar Oil’s holding company Essar Energy included in FTSE 100

Orbit Corp board meet on June 18 to raise Rs 1,000 crore via QIP

Tata Sons increase their stake by 2% in Voltas

ONGC Petro Additions talking to 3-4 foreign players for tie-up ((Lyondell,Ineos,Itochu)): DNA

My take on Raajneeti

I saw this movie last weekend.I liked the acting of everyone .The movie is too fast paced with bodies falling by the wayside .It speeds  faster as the race for power begins.

It is a story which seems to be considerably inspired from the events in India's political landscape.The struggle for power between cousins is akin to what has taken place in one of our States in a party which is basically a regional outfit though it ties up with national parties for the elections.The outright elimination of a strongman of a political party reminds one of the murder of a secretary of an influential tribal leader who got away owing  to  lack of evidence.The sympathy vote which brings the heroine to power is all too familiar with what has happened in this nation & elsewhere in Asia.

The movie is also a modern Mahabharata as stated by the director. The eldest protagonist is a Bhishma like figure as he is unable to do anything as youngsters are hell bent on killing each other to win the race.The Chief Minister gets  bedridden just like Dhritrashtra & is a puppet in the hands of his son.Bharati is Kunti & has three sons- one illegitimate ,Suraj just like Karna ( Surya' son) & two legitimate  sons born after her marriage .The eldest is arrogant & brash & younger one is just like Arjuna who takes action after planning.Now,here,we all know too well who these two seem to be portraying other than the Pandava princes.

Suraj is brought up by the driver just like the charioteer brings up Karna in the epic after they spot him as a baby adrift on the Ganges.Suraj is taken in as a chum by the vile son of the bedridden father.This is like Karna & Duryodhana's bosom friendship.

Katrina Kaif is Draupadi as she loves one brother & is coerced to marry another- all for the cause of politics nah to nab power.There is Bharati's brother, who is the Krishna of this story, always devising strategy   for Bharati's family.Krishna in Mahabharata as also in this tale is a Muhbola bhai ( brother by relation not a natural sibling ) .Krishna is there throughout the movie as if omnipresent.It reminds us that though God was   in the midst  of Pandavas & Kauravas,whatever happened was bound to happen.Maybe,there are lessons for all of us .Krishna is the kingmaker in the film. There is a scene in which ,the younger brother is goaded to kill his rival at point blank range by Krishna.The young fellow replies that as the rival  is unarmed,he does not feel up to it.Krishna says that he should do it as he may not get another chance.This is the five minute Geetopadesh ! Also,the rival is killed when he is out of his bullet proof vehicle  -Karna is bereft of his Kavach Kundala when he is killed.

The speeches made by the stars in the movie made me realise that our netas use mass hypnosis to abet people to vote for them ! Our magicians could learn all this indrajaal from our leaders as they have perfected the said tricks in election after election .The speech goes on like this ," Aap ( voters -public ) chup khade yeh sab dekh rahe hain -unhone ( rival political party) hamare Sasur/Pita/Pati/Bhai/etal  ko  din dahade maar dala ,aap kab tak aisa hone denge ? " The mesmerised crowd yells back ," Aap aage badho,hum aapke saath hain ".Really,how easily the populace is conned into believing that the said persons sacrificed their lives for the nation ! The politicians have been killed for pursuit of power, by the pursuit of power & of the pursuit of power .The netas believe in self (-) less service !  We  see this happening in our nation so often.

The film depicts what we all knew too well that politicians are ruthless when it comes to power & will stop at nothing to achieve their kursis. No relation is too sacrosanct for this.They believe that ends justify the means.But I am not buying what the younger brother tells the heroine that she will be happy in his home rather than in his cousin's place.This is all subjective thinking.Moreover,he, as also  his cousin pull all stops to seize  power.The same can be said about the Pandavas & Kauravas as they both used deceit during the war.Ultimately, the war ends but how ? With so many casualties & just a few members left -as in the saga of the Kuru clan.Katrina divulges at the end that she is pregnant.So,I guess, that, there may be a sequel in the offing.

Bharati hugs her bahu & tells her," We ( read women ) are the biggest losers in this power game ." Hopefully,the Women's Reservation bill will change that.

First Look: 'Raajneeti'

It is the story of Bhaskar Sanyal (Naseruddin Shah), the fire-brand leftist leader, as feared for his single-handed ability to challenge the most powerful of leaders as he was respected for his political integrity. Until one private mistake of his hurtled him into a self-imposed exile and spawned a secret consequence that shook the destiny of the political future of the state.

And of Sooraj (Ajay Devgan) who rose from the backward classes - with anger in his heart and leadership on his mind. And yet, his destiny could never overcome the tragedy of his birth, trapping him in a terrible dilemma, where his loyalty to his friend threatens to destroy his own family. Of Brij Gopal (Nana Patekar), who shunned every political ambition even as he continued to mentor and guide the younger generation of leaders while the battle got bloodier by the day.

It is the story of Prithvi Pratap (Arjun Rampal), heir to a powerful political legacy and impatient to seize the top position. A man with a heart of gold but who is all brawn. A man whose uncontrollable passions bring his family to the brink of political extinction. And of Veerendra Pratap (Manoj Bajpai), whose lunge at the throne was thwarted even as he was within striking distance of it. A man who believes he was born to rule, and who will now stop at absolutely nothing to claw his way back to the top.

Of Indu Sakseria (Katrina Kaif), the princess - beautiful, passionate, arrogant. She had only one all-consuming love. Little did she know that her personal happiness was dependent on the changing electoral fortunes of her love, and that even a slight shift in the faultiness of political negotiation would cause a devastating earthquake in her personal life. And yet, this spirited never-say-die diva rose from the ashes of her tragedy to challenge every contender, over-turning the political future of the state.

Of Sarah Jean Collins (Sarah Thompson), who came from one of the bloodiest and most violent places of earth. Who escaped from there, bruised, hurt, and fell in love with a soul-mate who shared a similar legacy. And her abhorrence for it. And yet, when he was sucked into his destiny, this innocent bewildered girl's private world was thrown asunder.

And, it is the story of Samar Pratap (Ranbir Kapoor), the ultimate outsider. The apolitical conscientious objector, who got reluctantly sucked into the battle-ravaged arena of family rivalry. Only to turn into a master of the craft of political warfare. It is the story of the woman that he loved, and the one that loved and lost him. It is the story of his determined and fierce fight to protect his family. Of the bloodiest of final battles in a war, alien to his character. It is the story of a man's descent into the moral hell that is Indian politics.

It is the story of a fiercely fought election campaign, where money-power and corruption are the accepted norms, and where treachery and manipulation are routinely used weapons. As the personal drama of these conflict-ridden characters unfolds against this gritty backdrop, love and friendship become mere baits, and relationships get sacrificed at the altar of political alignments.

The darkness that rises from their soul threatens to envelope all that they hold precious. Until eventually, in the crescendo of increasing violence, the line between good and evil blurs, making it impossible to distinguish heroes from villains.

'Raajneeti' is the story of Indian democracy. And its ugly underside. It is about politics. And beyond.