Fwd: Today's Exclusives - Hollow market explains flash crash and roaring rallies

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From: Moneylife <noreply@moneylife.in>
Date: Mon, Jun 20, 2011 at 8:32 PM
Subject: Today's Exclusives - Hollow market explains flash crash and roaring rallies
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20 June 2011   Moneylife Exclusive Hollow market explains flash crash and roaring rallies Debashis Basu A Sensex crash of 500 points in a matter of a few minutes, shows how hollow the Indian market is, as Moneylife has been pointing out for years now...     Exclusive Column     Vodafone: Suicidal advertising! Anil Thakraney The mobile giant tried its hand at a campaign that made a tongue-in-cheek claim that it was responsible for the Mubarak ouster. The Egyptians, however, are not amused...       Other ML Exclusives   GTL Ltd stock price slumps 62% on huge volumes; company denies promoters selling stake Analysts describe it as market reaction to company's scrapping plans to raise $300 million. Group company GTL Infrastructure slides 43%... ................................................................................................................................................ Slowdown spreading across all core sectors in India The Indian economy is considered to be driven by domestic demand. However, during FY2011, eight core industries—coal, crude oil, natural gas, petroleum & refinery products, fertilisers, steel, cement and electricity, registered a growth of 5.72% against 6.64% a year ago, mainly due to sluggish demand... ................................................................................................................................................ Ambani brothers: Governance deficit Shareholders of both Ambani groups are paying the price for the far-from-glorious reputation of their companies... ................................................................................................................................................ Subsidy muddle hurts minority shareholders of oil PSUs The subsidy burden has affected the valuations of state-run oil companies and consequently the interests of shareholders. The government must implement the recommendations of the Kirit Parikh Committee to completely decontrol prices of petrol and diesel immediately, as well as remove the burden from upstream companies... ................................................................................................................................................ Daily Market Report: Share prices headed for a further fall over the medium term We expected a minor rally before a decline, but the decline happened without a minor rally... ................................................................................................................................................ MHADA fails to repay deposit money to unsuccessful applicants Days after results being declared of the MHADA (Maharashtra Housing and Area Development Authority) Lottery, the entity remains clueless on when unsuccessful applicants will get their deposit refunds... ................................................................................................................................................ DTH companies hide 'outage' problem when selling service Customers lured with promises of uninterrupted service are disappointed by repeated disruption due to rain... ................................................................................................................................................ Lalit Modi tweets, "BCCI systematically scuttled Indian Cricket League" Lalit Modi, the controversial former commissioner of the Indian Premier League has been revealing some allegedly hidden secrets on Twitter... ................................................................................................................................................ Labour pains: How government regulations are hurting employment and businesses The laws, far from protecting labour, many times limit competition, discriminating against foreign companies and foreign workers. Often, it is not the laws themselves, but how they are enforced... ................................................................................................................................................ Personal finance today Religare Mutual Fund launches 370 days fixed maturity plan Taurus Mutual Fund floats 91 days fixed maturity plan Reliance Mutual Fund unveils Fixed Horizon Fund-XX-Series 20 ICICI Pru MF introduces two years fixed maturity plan HSBC Mutual Fund unveils Fixed Term Series 80 Tighter but uniform KYC norms in offing Royal Sundaram Alliance eyeing presence in rural areas LIC and Axis Bank to offer value added credit card services   At a Glance   - Cannot impose capital gains tax on Mauritius-routed funds: Govt - Lokpal Bill: Agreement on many issues; new ones come up - RBI deputy governor Shyamala Gopinath retires - SC dismisses bail pleas of Kanimozhi, Sharad Kumar - New CAG guidelines for govt accounting to be unveiled tomorrow - RPower's Krishnapatnam UMPP hits road block; may seek govt help Corporate Wrap-up   - BOI planning to enter MF sector, in talks with Bharti AXA‎ - Glenmark gets USFDA approval for oral contraceptive tablets - Citi India net profit increases 78% to Rs1,859 crore in FY'11   Moneylife Columns     Is your neighbourhood flooded? Are the nullahs encroached upon? Invoke RTI Vinita Deshmukh Cities like Delhi, Mumbai and Pune get flooded even with one long heavy shower during the monsoon. The reason is not so much the unexpected heavy rainfall, as much as it has to do with the expected failure of the municipal corporations to make storm water drains, or allowing illegal encroachments on nullahs and streams. RTI can help you nail them...     Muddy Waters indeed: Sino-Forest stock crash puts focus on scrutiny and quality of information William Gamble Sino-Forest Corporation, the Chinese forestry company in which hedge fund Paulson & Co was the largest investor, lost about two-third of its share value in the past few days after a little-known research firm alleged that the sales it reported would have required 50,000 trucks driving on two-lane roads through the mountains from a remote region, which is beyond belief ...       Face 2 Face   Varun Industries aims to complete new steel, pig iron units by 2015 Kiran Mehta, chairman and managing director, says backward integration will give the company absolute control over quality and reasonably good control over cost...   Editor's Pick   Athens does not get its lifeline European financial ministers have failed to agree on releasing funds to prevent a Greek default. ...................................................................................................................................................... Report: Airbus close to $17 billion AirAsia order A number of orders are likely at the upcoming Paris Air show. ...................................................................................................................................................... Gold is up, but mining stocks are tanking Does this offer a contrarian opportunity? ...................................................................................................................................................... Guess where can the US source its oil from? There's plenty of it off the shores of California. ...................................................................................................................................................... Here's the secret Web currency Bitcoin, a virtual currency, allows you to buy anything online without giving your credit-card number or bank-account information-leaving no trace at all. ...................................................................................................................................................... Cartoon of the week Chinese hackers have their work cut out.   Book Review   Wisdom of crowds Shukti Sarma The author could have given us more   FROM the ARCHIVES   Income-Tax Department on Speak Asia trail A few hundred crores frozen and more shell companies discovered; despite an RBI warning, a number of banks opened up only to the I-T authorities on these Speak Asia accounts—and what was the Financial Intelligence Unit doing? ...................................................................................................................................................... What ails the Indian IPO market–I? There are volumes of information in a public issue prospectus. But retail investors do not have access to one crucial number, that is, expected profits, that determines the most crucial aspect of a public issue—valuation ...   FORTHCOMING EVENT   The Truths about Mutual Funds: How to select the Right Scheme Moneylife Foundation is holding a seminar on 'The Truths about Mutual Funds: How to select the Right Scheme', at the Moneylife Knowledge Centre, on Tuesday, 21 June 2011. Admission is free. To register, please mail us at mail@mlfoundation.in or call Dione/Judith on 2444 1058.Click here for more details...   To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

 

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