STOCK BUZZ

Tata Motors on Thursday, said it will launch Nano, touted as the world's cheapest family car, on March 23 in Mumbai and bookings will start from April this year.   The car was unveiled at the auto expo in Delhi in January 2008 and a function on March 23 would mark the car's commercial launch. "The cars will be on display at Tata Motors dealerships from the first week of April 2009. Bookings will commence from the second week of April 2009," the company said in a statement. The company said that the booking process and other details of the Rs one lakh car would be announced on the day of launch

As part of cost cutting measures to tackle global economic downturn, IT major TCS on Thursday said job cuts are possible and also ruled out salary hikes next year.   TCS managing director S Ramadorai said "there would be no hike in salaries in the forthcoming year" and added that "job cuts are possible if the situation worsens". Adding further that TCS has frozen "lateral intake" he said the company is reviewing variable pay component on employee salaries. The variable pay component of TCS employees differs between 22 per cent and 35 per cent of his/her gross salary, depending on employee rank, he said. Variable pay represents eight percent of the total revenue of TCS, whose headcount is 1.3 lakh. Ramadorai said the company is also looking into all aspects of cost reduction, including capex and infrastructure.

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India-born Vikram Pandit could well lose his job as the chief executive of Citigroup if the American Government comes in with yet another lifeline for the beleaguered financial services entity. Citi has already received fresh capital injection to the tune of 45 billion dollars from the Federal government and officials way back in November reportedly had even discussed the option of replacing Pandit. Pandit took over the reins of Citi in December 2007. "... top government officials warned Pandit that a third trip to the taxpayer trough would probably cost him his job," the 'Wall Street Journal' reported today. The daily said that Citi is in discussions with Federal officials which could result in the government increasing its ownership in the bank. The report noted that in November last year Federal officials privately discussed the possibility of replacing Pandit. "But the government decided not to remove him, in large part due to a dearth of qualified r

As the Oscar fever catches up, expectation are high among Indians that music maestro A R Rahman, who has bagged three nominations for ‘Slumdog Millionaire’, will bring home the coveted trophy. The 43-year-old, who has already pocketed a Golden Globe and BAFTA, is nominated for Best Original Score and Best Original Song for his numbers "Jai ho" and "O saya". In the original score category, Rahman faces competition from Alexandre Desplat ("The Curious Case of Benjamin Button"), James Newton Howard ("Defiance"), Danny Elfman ("Milk") and Thomas Newman ("WALL-E"). The Indian composer is pitted against Peter Gabriel and Thomas Newman ("Down to earth" from "WALL-E") in the original song category. Gulzar has penned the lyrics of "Jai ho" and Mathangi 'Maya' Arulpragasam aka M.I.A. for "O saya". It is also a tryst with destiny for Indian sound technician Resul Pookutty, who is vying for

Source : Business week   As the U.S. recession deepens and job losses mount, finding fault with foreigners is very much in vogue. The tendency reared its head recently as U.S. senators Bernie Sanders (I-Vt.) and Charles Grassley (R-Iowa) began pushing for legislation that would restrict banks and other financial institutions from hiring immigrants on the temporary work permits known as H-1B visas. Grassley and Saunders got their dander up after an Associated Press story detailed how big U.S. banks brought in skilled foreign labor during the six years before the financial crisis. These workers entered the U.S. on H-1B visas and some firms (not necessarily these banks) found ways to pay H-1B workers less than Americans in comparable positions, the article claimed. Outraged by these findings, Sanders and Grassley pushed the Senate to pass legislation restricting banks from hiring H-1Bs. I am no fan of H-1B visas either. These visas are valid for up to six years. If a worker on an

The $787 billion package might cut your taxes, make your health insurance cheaper, fix the roads you drive on and keep the best teachers in your children's schools. And that's just for starters. [Related content: Barack Obama , economy , education , energy , recession ] By The Associated Press Here's an examination of how the economic stimulus plan will affect Americans. Taxes The recovery package has tax breaks for families that send a child to college, purchase a new car, buy a first home or make the one they own more energy efficient. Millions of workers can expect to see about $13 extra in their weekly paychecks, starting around June, from a new $400 tax credit to be doled out through the rest of the year. Couples would get up to $800. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year. A $1,000 child tax credit would be extended to more low-income families that don't make enough money to pay income taxes, and poor

Part 2 Contd ....   Environment The package includes $9.2 billion for environmental projects at the Interior Department and the Environmental Protection Agency. The money would be used to shutter abandoned mines on public lands, help local governments protect drinking water supplies, and erect energy-efficient visitor centers at wildlife refuges and national parks. The Interior Department estimates that its portion of the work would generate about 100,000 jobs in the next two years. Yet the plan will make only a dent in the backlog of cleanup projects facing the EPA and in the long list of chores at the country's national parks, refuges and other public lands. Talk back: How will you use your tax refund? The plan sets aside $735 million for road repairs and maintenance at national parks. But that's just a fraction of the $9 billion worth of work waiting for funding. At the EPA, the payout is $7.2 billion. The bulk of the money will help local communities and states

As budget clouds are really close and going to bust soon. This year Budget rainfall will be really useful espcially which world economic is taking a deep dive. Tip for Feb 16th 2009 Buy Maruti>631.1,637,638.4,648 sl 626.8 Buy Crompton Greaves>142.1,145,147 sl 137.8 Buy Dredging Corpn>245.1,251.5,255 sl 240.8 Buy Adlabs>183.1,187,190 sl 179.8 Buy Colgate>435.1,445 sl 432.8

-- Citigroup Inc . Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability. "I get the new reality and I will make sure Citi gets it as well," Pandit said today in testimony before the U.S. House Financial Services Committee . Lawmakers called eight bank CEOs to Washington to explain how they were using their portion of the government's $350 billion of rescue funds to boost credit. Citigroup and the nation's biggest banks have come under fire from lawmakers who criticized bonus payments and corporate expenses such as new executive jets at a time when the government was giving them billions to revive the economy. President Barack Obama last month called the bonuses "shameful" and the "height of irresponsibility." JPMorgan Chase & Co's Jamie Dimon , Morgan Stanley's John Mack , and Bank of America Corp.&#

Negotiators have resolved the differences between the House and Senate versions of the stimulus bill, Sen. Harry Reid said Wednesday   The bills were really quite similar, and I'm please to announce that we've been able to bridge those differences," said Reid, the Senate Majority Leader. "Like any negotiation, this involved give and take, and if you don't mind my saying so, that's an understatement," he said. Negotiators worked late into the night to iron out differences between the two versions of the stimulus bill. President Obama said he wanted the bill on his desk by Presidents Day, which is next Monday. Reid praised the three "brave" GOP senators who broke ranks to the support the bill: Sens. Susan Collins and Olympia Snowe of Maine, and Sen. Arlen Specter of Pennsylvania. Of the 219 Republicans in Congress, they were the only three to back the bill. Earlier, two key senators involved in talks over the economic stimulus plan emerged

The Senate lined up to advance the $827 billion economic stimulus legislation backed by the White House on Monday, and Democratic leaders vowed to deliver a bill to President Barack Obama 's desk within days. Still, key lawmakers braced for a difficult round of further negotiations aimed at producing a final House-Senate compromise. "There is no reason we can't do this by the end of the week," said Senate Majority Leader Harry Reid of Nevada. He said he was prepared to hold the Senate in session into the Presidents Day weekend if necessary, and cautioned Republicans not to try and delay final progress. He said passage would mark "the first step on the long road to recovery." It takes 60 votes in the Senate to push the bill past a procedural hurdle raised by Republicans, and Democratic leaders expressed confidence they had the necessary support after Friday's agreement to trim the bill by about $100 billion. Another 60-vote majority would be nee

In what could be worrying for Indian software professionals, two US Senators have introduced amendments to the economic stimulus bill, which if passed would prevent US companies receiving the federal bailout money, from hiring H-1B visa holders. The amendment if approved by the Senate would have an immediate impact on Indian software professionals, as it is they who are the major beneficiary of the H-1B visa program. An amendment in this regard has been co-sponsored by the Republican Senator from Iowa, Chuck Grassley and the Senator Bernie Sanders from Vermont. Introducing the amendment on the floor of the Senate, Senator Sanders said: "It is essentially saying that there would be a suspension of H-1B program of any institution, which would be receiving TARP (Troubled Assets Relief Program) funds for just one year." Seeking bi-partisan support to his amendment, Sanders said: "I firmly believe that companies going through layoffs that employ H-1B visas (holding wor

"Aban Offshore's Q3FY2009 pre-exceptional consolidated net profit at Rs 1.16 billion is sharply below estimates primarily because of lower than expected EBIDTA margins and higher tax rate. Given its high revenue backlog and compelling valuation we recommend stay away from this script and monitor for next few months

EdServ Softsystems IPO. >>   "looking after inconsistent financial track record, uncertainty associated with business model and heavy equity base of company makes the valuation of the company highly expensive at present levels. Hence we recommend the investor to avoid the issue."   Concerns;   Stiff Competition Risk related to inability in registration Risk of piracy and misuse

FinQuest Securities has rated Tata Power Company as an outperformer in its January 30, 2009 research report. "During the quarter ended December 31, 2008, Tata Power's Revenues stood at INR 17768.7 million, an increase of 25% as compared to INR 14194.0 million in the corresponding period last year. PAT for the quarter stood at INR 1150.8 million as against INR 1972.8 million in the corresponding period last year. We believe that the ongoing expansions, presence in the transmission and distribution segments and the coal operations to drive the company's revenue going forward. We rate the stock as Outperformer," says FinQuest Securities' research report

Quaterly Analysis ( DEC 08 ) by Haresh Soneji Click on this link " Analysis " Source : MoneyControl

Gold prices are expected to touch a record high of Rs 16,000 per 10 gram in the next three months driven by uncertainty in the global financial markets and currency movements, say jewellery retailers and analysts. Gold prices have shot up by 20 per cent to Rs 14,175 per 10 gram on February 2 compared to Rs 11,720 per 10 gram in the year-ago period. Major jewellery manufacturers and retailers such as Geetanjali Gems Ltd and P P Jewellers and some analysts see the much possibility of gold prices touching Rs 16,000 per 10 gram by April, this year. "Currently, gold prices are extremely volatile. Within a week or so, prices would hover in the horizon of Rs 15,000 per ten gram level. It may not be a surprise to see gold prices at Rs 16,000 per ten gram in the next three months," the Chairman of Gitanjali Group, Mehul Choksi, said. Uncertainty in the global financial market and the rupee movement will be key drivers for gold prices, he said, adding that currently, there has no

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