INVESTORS PLEASE LISTEN !

Sunday, March 29, 2009

1: Road Map to Your Child’s Wellness

Medical research has given us empirical evidence highlighting the correlation between our diet and wellness. We are what we eat, goes the popular saying. So, why not start right at the beginning instead of waiting for the onset of diseases and loss of health for that health plan?

Obesity is considered a major factor in aggravating many fatal ailments like diabetes, hyper tension, high blood pressure, high cholesterol etc. It is also a well known fact that the seeds of being obese are laid in our childhood mainly due to the type of food we are exposed to. Children can be easily guided towards any type of food/nourishment if started early on and continued with diligence.
1. Won’t eat those greens at 10 years of age? Could it be that it his/her plate never saw that colour till now? Exposure to all types of vegetables from early childhood is a sure way to ensure that your child will slowly pick and eat some greens rather than refuse it altogether later on.

2. Fussy about eating fruits as a teenager?
Were fruits always around during the toddler/primary school phase at home? Even if the child ignores it for sometime, a wholesome exposure to all kinds of healthy food is bound to impact their choice later on. We tend to offer only those types of food which children prefer and these often fall into the sweet/ snacky variety. How about offering only fruity snacks next time your child demands that packet of fried chips?

3. You are your child’s health architect; lay an indomitable foundation on which a sturdy, strong and supple structure can be built to survive the many vagaries of life. Don’t let the power of ‘being fussy’ lose the power of ‘veggies and fruits’ and all things good for their health.

2: Save that trip to ICU: Take control of your safety

You slip under the seat belt on spotting a cop on the road, step up the accelerator, throw caution to the winds and let your kids use the backseat as their playground. The red light, you feel, were made to be jumped and side mirrors only for the show.

If you follow any of these, then chances are, you are well on the stairway to heaven. Because much as you may hate to admit -- seat belts work. They save lives.

Its usage at all times ensures protection during high impact accidents. SCI (Spinal cord Injuries) which results in either paralysis or death are prevented if you have your seat belt on strapped correctly (never under the shoulders!)

Children are most vulnerable
The Safety of your child cannot be dependent on the presence of the traffic cop on the road alone. It depends on your adhering to the rules. In the developed world, it is conservatively estimated that over the last 25 years about 3,10,000 fatalities and 9 million critical injuries have been prevented through wearing of seat belts

Jumping the traffic light = inviting life threatening moments

Just because you are on the road at 2 a.m. and cant spot a car for miles doesn’t mean you don’t have to wait for the lights to turn green.
Modern cars are fitted with efficient engines with high acceleration and can achieve high speeds within a very short time and distance. Crash risk increases as speed increases especially at road junctions as road users underestimate this speed and overestimate the distance of an approaching vehicle resulting in avoidable crashes.

Reversing? Check for the following:

Any toddlers/children playing at the back.You may have checked the rear view many times but it cannot show the tiny toddler or that child straying while you have pressed the accelerator.
Slow and slower should be your thumb rule to guard against any fatal accidents while reversing.
ALWAYS look in the side mirrors too. Hazards often get overlooked here.

No matter what you do, remember that you can steer your life into the right direction. All you need to do is to watch for the green, so you never catch the red!

Source http://www.itgi.co.in/

Saturday, March 28, 2009

[Investors Please Listen] Banking - RBI guidelines-increased Net NPA; No economic impact; sector update

The Reserve Bank of India (RBI) has issued a new set of guidelines on various loan provisions. Overall, these guidelines are unlikely to have any significant impact on our estimates. While there is no economic impact, net NPA ratios of some banks are likely to increase 50-100bps and tier-II capital ratios will go up by 60-80 bps.

Key highlights of new RBI guidelines

As per the new guidelines, floating provisions cannot be netted from gross NPAs to arrive at net NPAs. Until recently, some banks were using floating provisions as part of their provision coverage, which kept their reported net NPA ratios low. Now, when these floating provisions will cease to be a part of the provision coverage, reported net NPA ratios of these banks will rise; also, provision coverage will come down without any change in gross NPA numbers.

We are puzzled by the timing and nature of these guidelines as it penalizes the banks which have strengthened the balance sheet in the past by creating these floating provisions. However on the positive side, this will give much clearer picture of specific provisioning policies of each bank.

The reported net NPA ratio will increase 70-100bps for Punjab National Bank (PNB), Federal Bank and Union Bank. As these banks had net NPA ratio of less than 0.5% as of December 2008, an increase in net NPA/fall in provision coverage could have some sentimental negative impact. Private banks and State Bank of India (SBI) are unlikely to be materially impacted as they do not have floating provisions.

We would expect the affected banks to seek one-time approval to create specific provisions by using existing floating provisions.

Our view –No Economic impact

We believe that the increase in net NPA of a bank is negated by the existing understatement of core book of the bank, thus implying zero impact on the adjusted book value.

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[Investors Please Listen] Bond Supplies - Government doles out 2/3rds of budgeted FY10 borrowing in H1FY10

Government doles out 2/3rds of budgeted FY10 borrowing in H1FY10

As we enter into FY10 when the government and RBI are expected to steer the economy from the ongoing slump through various monetary and fiscal tools and the tax kitty is likely to shrink due to the rates reduction and the overall economic contraction, capital receipts will play a significant role in financing the INR 9.5 tn expenditure bill.

The RBI, on March 26, announced the H1FY10 borrowing program at INR 2.41 tn, with an estimated weekly borrowing (bonds, bills and state development loan, SDL) of INR 230 bn (table 1). Given below are some details of the borrowing program:

n Compared with INR 960 bn in H1FY09, INR 2410 bn will be auctioned in H1FY10.

n With debt servicing of INR 1.01 tn in H1FY10, net borrowing is INR 1.41 tn.

n Of INR 1.01 tn, INR 330 bn is in bond redemptions and remaining in interest payments.

n OMO buyback would continue over the next 6-months; INR 800 bn worth bonds are expected to be bought back, equally distributed over the two quarters.

n MSS bonds and bills worth INR 420 bn would be unwound over H1 FY10, INR 375 bn in Q1 and rest over next quarter.

n In Q1FY10, the monthly issuance will be INR 480 bn against INR 320 bn in Q2.

The benchmark yield shot 20bps to 7.18% as a knee jerk to borrowing programme release; however, it recovered and closed at 7%. As the details of the financing the auction through OMO and MSS unwinding was released after market hours we can anticipate positive opening on March 30.

[Investors Please Listen] Market Plotter 27-Mar-09-EDEL

"Market Plotter"

Market in a nutshell

§ Markets witnessed a highly volatile session amid alternate bouts of buying and selling throughout the session. The domestic bourses ended the day with small gains with Nifty closing at 3,109 (up 27 points) while Sensex ended the day at 10,048 (up 45 points)

§ Nifty April Futures were trading in a range of 5-8 points premium for the major part of the session but expanded to 15-20 points premium towards the end of the session.

§ The BSE Metal index closed with increase of 4.85% at 6,110 with JSW Steel galloping 13.5% to INR 231 after the company said it repurchased foreign currency convertible bonds aggregating USD 47.80 million while BSE Pharma index ended up by 2.81% at 2,748 with Matrix Labs rising 20% to INR 141 after parent Mylan Inc said it plans to acquire the remaining 29% stake in the Indian unit and delist it from the stock exchanges.

§ Market breadth was positive with an Advance: Decline ratio of 2.3:1. Aban Offshore rose 14.6% to INR 421 while RNRL advanced 11.8% to INR 49.

§ Cash volumes were at INR 171,775 mn (NSE+BSE) as against a 5 DMA of INR 159,862 mn. F&O volumes were at INR 511,713 mn as against a 5 DMA of INR 673,262 mn.

Eye Catchers

§ PFC climbed 4% to INR 138 with volumes of 1,399,391 (up 400%)

Market News

§ The rupee was trading at INR 50.60 against the dollar.

§ Nymex crude rose to trade at USD 53.56/bbl. Base metals were trading on a positive note.

§ Core infra sector expanded by 2.2% in February.

§ Sadbhav Engg to raise INR 1250 mn via rights issue.

Indices performance

	CURRENT	PREV.	%CHANGE
S&P CNX NIFTY	3,108.65	3,082.25	0.86%
CNX NIFTY JUNIOR	4,390.55	4,279.85	2.59%
CNX IT	2,387.75	2,387.45	0.01%
BANK NIFTY	4,406.80	4,285.15	2.84%
CNX 100	2,909.65	2,878.65	1.08%
S&P CNX DEFTY	2,128.30	2,110.45	0.85%
S&P CNX 500	2,343.70	2,314.20	1.27%
CNX MIDCAP	3,385.00	3,312.95	2.17%
NIFTY MIDCAP 50	1,175.25	1,140.25	3.07%

Top Gainers
Symbol	Open	High	Low	Last Price	Prev. Close	% Change
TATASTEEL	206.35	227.30	206.00	223.20	205.45	8.64
RCOM	170.05	187.90	166.65	183.75	169.90	8.15
TATAMOTORS	175.00	193.00	171.30	188.90	175.90	7.39
SAIL	97.90	103.65	95.50	102.80	96.15	6.92
PNB	406.55	449.85	406.55	438.85	414.35	5.91

Top Losers
Symbol	Open	High	Low	Last Price	Prev. Close	% Change
HDFC	1,660.00	1,670.00	1,573.00	1,585.40	1,656.45	(4.29)
INFOSYSTCH	1,375.00	1,386.00	1,330.05	1,344.90	1,379.15	(2.48)
POWERGRID	97.50	97.50	93.70	94.55	96.25	(1.77)
UNITECH	36.00	36.90	34.65	35.90	36.50	(1.64)
RELIANCE	1,554.00	1,583.40	1,535.00	1,548.75	1,565.50	(1.07)