If anyone has made ill-advised investments in the 3 days
between Sarbajit's 2 posts and is inclined to hound Sarbajit, I have his cell number n
address :-)
Anyone been watching the realty IPOs? I have come full
circle on my DLF-Indiabulls provoked RTI request of April 06 with no clear info
about the private monies being relied on in JNURM. And now there is this about
another $500m fund in pipeline with same private participation thrust for
cities left out of JNURM:
http://economictimes.indiatimes.com/New_500m_fund_to_transform_Indian_cities/articleshow/1895175.cms
- gita
ps: query is not to request IPO tute on this list, but to ask if
anyone on it can help us read coincident trends that are not being
officially correlated
----- Original Message ----
From: sarbajit roy <sroy1947@xxxxxxxxx>
To: Master plan issues in media <mpisgmedia@xxxxxxxxxxxxxxxxx>
Sent: Thursday, April 12, 2007 9:39:50 AM
Subject: Re: [mpisgmedia] FDI and real estate- Part2
In my previous post - replying to Poonam's provocation - I had posted a link, and also passed certain comments on the state of the economy and the Indian stockmarkets.
CAUTION / DISCLAIMER: (Especially for retirees)
Kindly do not base your investment decisions, if any, on the link I had posted or my observations. People who know me also know that my sense of humour tends towards the dark side.
Sarbajit
sarbajit roy <sroy1947@xxxxxxxxx> wrote: Indirect "Participation" in Indian Stock Exchanges via PN and Mauritius routes can hardly be termed as FDI. Anyway, what is wrong with this? If foreigners want to practice "pump and dump" policies in our stock exchanges why should we locals be concerned - stock markets are not usually strongly correlated with the price of fish - or are they?
Anyway our well regulated stock markets are booming today - 13,200 odd levels again - this is a direct result of our beloved baby faced FM's proactive intervention via the RBI - lets hope that PNs dont hedge the party when Infosys head honchos give their aashirwad to all this on 13.April.
BTW, moneycontrol.com (where half the villians of the piece below hangout) has today got a headline story - :Prez APJK has no objection to Mr.Murthy being his successor" - very reassuring for all the JNURM camp followers
Perhaps you ought to read this paper:-
http://mpra.ub.uni-muenchen.de/1778/01/MPRA_paper_1778.pdf
Poonam Prakash wrote: http://www.outlookindia.com/full.asp?fodname=20070416&fname=Economy+%28F%29&sid=1
Now, A Few Growth Pangs
.................
An overheated economy shows a few scars-- real estate is in for a slump, stockmarkets are volatile and software has some dubious players
..............
The worst suspicions are turning out to be true, with indications that tainted and black money may be flowing into the real estate sector and stockmarkets, and being turned 'white' through bogus export earnings in the software segment. The estimates for the black economy vary—between $680 billion and $1.5 trillion, or 40-85 per cent of India's gdp. Economic reforms have had little impact on its growth.
........
Although the committee allowed the practice to continue, the only dissenting note to the report stated that "trading of these P-notes will lead to multi-layering which will make it difficult to identify the ultimate holder of PNs. Both conceptually, and in practice, restrictions on suspicious flows enhance the reputation of the markets and lead to healthy flows." This is true about Hassan Ali, who easily shipped out illegal funds to the tune of Rs 35,000 crore to bank accounts in Switzerland, Mauritius and Caribbean Islands, and slipped them back into India through PNs.
Yet again, there are strong defenders of PNs, which comprise 35 per cent of inflows through FIIs.They account for huge holdings in Hexaware Technologies (32.8 per cent), Indiabulls Financial Services (27 per cent), Geodesic Information (17.2 per cent) and HDFC (14.3 per cent), and whose inflows come through known FIIs like Citigroup ($1.4 billion), Morgan Stanley ($1.2 billion), and CLSA (just over $1 billion).
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