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Unitech 311.05, 314, 317, 320, 326 Sl 307.45 Tata Motors 780.35,799,816 Sl 775.9 Tata Motors can give 20% return if held as a delivery

India has shown a marginal improvement in perceived levels of corruption over 2006, Transparency International’s annual Corruption Perception Index 2007 released today revealed. On a scale of 0 to 10, India has registered an integrity score of 3.5 this year against 3.3 in the previous year and 2.9 in 2005. The country is ranked 72 among 180 countries. Last year, India was ranked at 70 out of 163 countries and in 2005 it was 88 out of 159 countries. “Unlike the developed countries where corruption is restricted to higher levels, in India corruption is rampant at the grassroots level where you have pay a bribe to get a ration card,” R H Tahiliani, chairman, Transparency International India said. On a scale of 0 to 10, Denmark, Finland and New Zealand scored 9.4 and occupied the top slot. Singapore, Sweden and Iceland scored 9.2 and above, indicating very low levels of corruption in developed nations. The scores this year are relatively higher than last year, says the report. While China ...

In a move that has taken foreign and domestic arms vendors by surprise, the head of the Ministry of Defence’s (MoD’s) high-profile Defence Offsets Facilitation Agency (DOFA), Dr Kiran Chadha, has been prematurely moved out. Exactly a year after DOFA was set up in October 2006, the joint secretary who was promoted to head it and play a pivotal role in the evolution of a new Defence Offsets Policy, has been transferred to the Ministry of Women and Child Development (MoWCD). The transfer order is likely to be served on October 1. This blow to continuity within DOFA seems likely to be followed by more. The incoming head of DOFA, Chaman Kumar, has just one year left in the five-year tenure that civil servants are authorised in Delhi. He is being shifted to DOFA after reportedly having run afoul of his present boss, Minister for Women and Child Development Renuka Chowdhury. According to service rules, Chaman Kumar is due to be posted out of Delhi in mid-2008. The MoD has repeatedly stated th...

TCS trying to create Mini India in South America India's largest software company TCS today said it has consolidated its operations in Uruguay and Argentina into a single unit and plans to double its workforce to 2,400 in the next 2-3 years. This unit would focus on providing nearshore services to other Latin America countries as well as to the US and Europe, a company statement said. TCS Vice-President (Business Development) Mario Tucci has been appointed as the country manager of the new unit which comprises a global delivery centre and regional training centre in Montevideo (Uruguay) as well as an extension centre in Buenos Aires (Argentina). The company has plans for a major expansion of this unit in the future. “This region has very highly-trained human resources, English language skills and an attractive cost structure, which makes it a natural base for exporting services to other countries,” Tucci said. “Leveraging these conditions, we intend to grow to 1,200 employees this ...

There is a lot of shortterm volatility in the global and domestic markets, based on the events and developments in the US market. For example, the news related to the crisis in the sub-prime lending market in the US, interest rates cut by FED, rise/fall in NASDAQ and NYSE etc. These are some fundamental reasons why global markets turn volatile because of developments in the US markets . The US economy is the largest economy in the world. Many small and large countries mainly depend on exports to American markets . As a result, whenever there is any negative news in the American markets, it triggers negative sentiments among the global investors and as a result we see a lot of volatility in global/domestic markets (especially in the short term). The Indian economy is mainly driven by domestic consumption, but US accounts for a large portion of exports. A large number of Indian companies are involved in exporting their products to American markets , and raising funds by listing on the Ne...

Buy on Stovec Industries & Target for Rs 370 The stock of the company is trading 15.67 times to its earnings and 2.11 times to its book value. The company is having three main divisions: screen, industrial ma-chinery and graphics. Screen division manufactures and market per-forated rotary and engraved cylindrical screens; industrial machinery division manufactures screen printing machines, plate processor ma-chines, sizing machines, splicer machines and other. Stovec Industries is promoted by Stovec Industries group. The company is engaged in pre-sensitized off-set plates and perforated rotary screens used in the textile printing segment. It manufactures and markets pre-sensitized off-set plates, screens, electronics and other machinery related products. The company, significantly altered it product portfolio of graphic and chemical business and is now focusing on profitable product segments in these categories. This would substantially help the company in strengthening its bottoml...

Buy Bharathi Shipyard : target for Rs 795 Research Report on Bharathi Shipyard by Anand Rathi Swan Hunter acquisition to add new dimension The company recently acquired Swan Hunter Shipyard (U.K). The machinery as well as the dry dock would be dismantled and shipped to Mangalore. The acquisition, dismantling, transport and re-installing cost would be around Rs 2,500 million. The acquisition would enable Bharati to build vessels up to 100,000 DWT. Robust order book to fuel growth BSL’s order book is Rs 40,000m; the unexecuted portion is Rs 33,000 million (details in annexure). About 50% of the order book will be executed at Mangalore, the rest at other yards. The Mangalore yard would execute the Rs 7,500 million orders for rig. The delivery of rigs is expected by December 2008. The normal revenue recognition formula is 15 x 6 (15% of revenue booked every quarter for six quarters). In FY08, the company posted a turnover of Rs 4,210 million. Of this, Rs 3,540 million arose from its core s...