BSEIndia: All Stock Market News: July 2009

Friday, July 31, 2009

DG - How Ego sometimes misjudges a PERSON

How our inner Ego sometimes misjudges a PERSON

A lady in a faded grey dress and her husband, dressed in a home-spun suit walked in timidly without an appointment into the Harvard University President's outer office. The secretary could tell in a moment that such backwoods, country hicks had no business at Harvard and probably didn't even deserve to be in Harvard.

"We want to see the President "the ma n said softly.

"He'll be busy all day "the secretary snapped.

"We'll wait" the lady replied.

For hours the secretary ignored them, hoping that the couple would finally become discouraged and go away. They didn't and the secretary grew frustrated and finally decided to disturb the president..

"Maybe if you see them for a few minutes, they'll leave" she said to him. The President, stern faced and with dignity, strutted toward the couple.

The lady told him "We had a son who attended Harvard for one y ear. He loved Harvard. He was happy here. But about a year ago, he was accidentally killed. My husband and I would like to erect a memorial to him, somewhere on campus."

The president wasn't touched....He was shocked. "Madam "he said, gruffly, " we can't put up a statue for every person who attended Harvard and died. If we did, this place would look like a cemetery."

"Oh, no," the lady explained quickly” We don't want to erect a statue. We thought we would like to give a building to Harvard."

The president rolled his eyes. He glanced at the gingham dress and homespun suit, and then exclaimed, "A building! Do you have any earthly idea how much a building costs? We have over seven and a half million dollars in the physical buildings here at Harvard."

For a moment the lady was silent. The president was pleased. Maybe he could get rid of them now.. The lady turned to her husband and said quietly, "Is that all it costs to start a university ? Why don't we just start our own?"

Her husband nodded. The president's face wilted in confusion and bewilderment. Mr. and Mrs. Leland Stanford got up and walked away, traveling to Palo Alto, California where they established the University that bears their name: -StanfordUniversity, a memorial to a son that Harvard no longer cared about.

Most of the time we judge people by their outer appearance, which can be misleading. And in this impression, we tend to treat people badly by thinking they can do nothing for us. Thus we tend to lose our potential good friends, employees or customers.

Remember

In our Life, we seldom get people with whom we want to share & grow our thought process. But because of our inner EGO we miss them forever.

It is you who have to decide with whom you are getting associated in day to day life.

Small people talk about others,

Average people talk about things,

Great people talk about ideas

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Monday, July 27, 2009

DG - FW: Stock Ideas: Apollo Tyres (Back on buying list [1 Attachment]

[Attachment(s) from RoHiT included below]

From: Sharekhan Fundamental Research [mailto:marketwatch@research.sharekhan.com]
Sent: 27 July 2009 15:34
To: Sharekhan Fundamental Research
Subject: Stock Ideas: Apollo Tyres (Back on buying list

Stock Ideas
[July 27, 2009] Please see the attachment for details

Sharekhan
www.sharekhan.com

Summary of Contents

STOCK IDEAS

Apollo Tyres
Cluster: Apple Green
Recommendation: Buy
Price target: Rs53
Current market price: Rs37

Back on buying list

Key points

Profitability to surge on benign raw material prices: Apollo Tyres Ltd (APL)’s profitability was under severe strain in FY2009 due to a steep rise in the prices of its key raw materials, such as rubber and crude oil derivatives like carbon black, synthetic rubber, nylon tyre cord fabric and rubber chemicals. The operating profit margin (OPM) had slumped by 464 basis points year on year (yoy) to 8% in FY2009. However, since December 2008 the raw material prices have corrected substantially while the benefit of a lower raw material cost has not been passed on to the consumers through price reductions. As a result, we expect the profit margin of APL to expand significantly in FY2010, leading to a three-fold jump in its net profit.

Revival in demand to follow overall economic recovery: The economic slowdown severely affected the domestic automobile industry, especially in the second half of FY2009 after the freefall in the global economy in the wake of the Lehman debacle. The resultant jitters were also felt by the auto ancillary industries including tyres. Tyre makers saw a sharp dip in their sales to the original equipment manufacturers (OEMs) and the replacement market, and many were forced to go for production cuts in H2FY2009. However, the tyre industry is showing signs of recovery especially with the significant demand improvement in the passenger car and replacement markets. The ban on the import of truck and bus radials (TBR) since November 2008 has also helped improve the demand for domestic tyres, more so since the Chinese imports have plunged by ~78%. Also, measures like the economic stimulation measures by the government, the passing on of the benefit of the 6% reduction in the excise duty in the later half of FY2009, the lower interest rates and the significantly lower raw material prices are likely to boost the demand environment further.

High on expansions: APL is the market leader in truck and bus tyres, and light truck tyres in India with a significant market share in the passenger car tyre segment. To improve its market share and expand in these segments, the company is increasing its capacity in India from 850 tonne per day to ~1,000 tonne per day by establishing a new greenfield plant in Chennai. This plant will primarily cater to the growing demand from the TBR and passenger car radial markets. In the international market APL has presence in South Africa where it is the biggest tyre manufacturer. To further expand its international presence the company in May 2009 acquired Vredestein Banden BV (CY2008 sales at 307 million euros/Rs2,087 crore), a high-end passenger car tyre manufacturer in the Netherlands with a capacity of 150 tonne per day. The acquistion gives APL access to the European markets and has increased its current production capacity to ~1,200 tonne per day.

Attractive valuations—reinitiating coverage: The improving demand in the replacement and OEM markets will drive APL’s revenue growth in FY2010 in the domestic market whereas the substantial improvement in its margin will lead to a multi-fold jump in its bottom line in the same period. The improvement in the demand environment and the commissioning of the new Chennai facility will drive APL’s growth in FY2011. At the current market price, the stock trades at 5.7x and 5.3x its FY2010E and FY2011E earnings per share (EPS; stand-alone) of Rs6.5 and Rs7 respectively. APL is trading at attractive valuations considering the expected growth in its earnings and its historical average price/ earnings (P/E) of 11.6x one-year forward. We, therefore, re-initiate coverage on the stock with a Buy recommendation and a price target of Rs53, valuing it at 7.5x its FY2011 earnings. The price target implies an upside of 39% from the current market price.

Regards,
The Sharekhan Research Team

myaccount@sharekhan.com

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Attachment(s) from RoHiT

1 of 1 File(s)

ApolloTyres-27-Jul-2009.pdf

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Sunday, July 19, 2009

DG - Dale Carnegie's HR Principles..!!

Fundamental Techniques in Handling People

Don't criticize, condemn or complain.
Give honest and sincere appreciation.
Arouse in the other person an eager want.

Six ways to make people like you

Become genuinely interested in other people.
Smile.
Remember that a person's name is to that person the sweetest and most important sound in any language.
Be a good listener. Encourage others to talk about themselves.
Talk in terms of the other person's interests.
Make the other person feel important - and do it sincerely.

Win people to your way of thinking

The only way to get the best of an argument is to avoid it.
Show respect for the other person's opinions. Never say, "You're wrong."
If you are wrong, admit it quickly and emphatically.
Begin in a friendly way.
Get the other person saying "yes, yes" immediately.
Let the other person do a great deal of the talking.
Let the other person feel that the idea is his or hers.
Try honestly to see things from the other person's point of view.
Be sympathetic with the other person's ideas and desires.
Appeal to the nobler motives.
Dramatize your ideas.
Throw down a challenge.

Be a Leader: How to Change People Without Giving Offense or Arousing Resentment

A leader's job often includes changing your people's attitudes and behavior. Some suggestions to accomplish this:

Begin with praise and honest appreciation.
Call attention to people's mistakes indirectly.
Talk about your own mistakes before criticizing the other person.
Ask questions instead of giving direct orders.
Let the other person save face.
Praise the slightest improvement and praise every improvement. Be "hearty in your approbation and lavish in your praise."
Give the other person a fine reputation to live up to.
Use encouragement. Make the fault seem easy to correct.
Make the other person happy about doing the thing you suggest.

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Saturday, July 18, 2009

DG - Smart Investment [1 Attachment]

[Attachment(s) from RoHiT included below]

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Attachment(s) from RoHiT

1 of 1 File(s)

Smart Investment (English) Weekly Issue No[1]. 21 (Dt.19th July 2009).pdf

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Saturday, July 11, 2009

DG - A budget speech wrriten by Stock operator

A Budget that market would’ve loved to listen

The stock market had its worst Budget day performance in its history on Monday. Bewildered, ET asked a veteran market operator to spell out exactly what the market would have liked to hear. In response, he drafted the following speech for the FM, along with instructions on how to deliver it

MADAM Speaker,

I rise to present the Budget for 2009-10, fully conscious of the high expectations of over a billion fellow countrymen, who believe that I am here to find a solution to their problems. And I do not want to disappoint them.

The global economic turmoil and the subsequent recession have indeed taken a toll on not just Indians, but also the whole world. Honourable members would be aware that much of the economic turmoil was precipitated by the collapse of the stock market in the US. And the only way out of this problem is to have a permanent bull market. Therefore, I intend to help create a permanent bull market in India.
(Expect loud protests from the opposition. But stay cool and use the time to gulp some water).

If anyone thought that my solution is not based on sound economic theory, listen to the chief of US Fed Shree Ben Bernankeji, and I quote: “There’s no denying that a collapse in stock prices would pose serious macro-economic challenges. Consumer spending would

slow, and the economy would become less of a magnet for investors.”

Honourable members will agree, the BSE Sensex has come a long way from the 3000-odd levels that it languished in only a few years ago. The dizzying journey of the index has left many of its global peers drooling. The index has left behind its peers in the US, the UK and even China. We are only second to the HK’s Hang Seng, which is just a few thousand points ahead of us. Our next goal is to help the index race past it and be the beacon for others to follow.
(Just ignore those feeble voices of protest from the red brigade — in case they are present. They are anyway still busy figuring out why they lost the elections, something pretty evident to the rest).

Madam Speaker, I am not naive to believe that a permanent bull market is easy to create. Therefore, I propose to follow the PPP model (Public-Private Partnership) to achieve this goal. A series of measures is being earmarked for this. First of all, I propose to create an Innovation Fund that will be used to reward stock market analysts who introduce innovative ideas to fuel the Sensex rise. Here, I must place on record the contribution of these analysts in fuelling the last rally with their innovative valuation of so-called ‘land banks’ of companies. For the benefit of the not-so-knowledgeable MPs, I shall proceed to explain their innovative idea. Our venerable analysts have been valuing the land holdings not by their market value, but by the possible value accretion if the land were to be converted into SEZs or commercial properties. This made the stock prices of many land-holding companies very cheap and triggered a fresh rally. The Innovation Fund will be used to reward such ‘creative’ analyst geniuses. I also propose to recommend the names of such creative geniuses for Padma Bhushan or Bharat Ratna.
(By now you will see the Oppn MPs on their feet calling you names. But that’s the price one has to pay for boldness).

Analysts alone can’t a rally make. It needs the co-operation of all, right from the school level. Therefore, I propose to build an equity culture in our country. Henceforth, the syllabus in schools will have lessons extolling the virtues of stock investments and the adventures of Dalal Street heroes. While teaching children alphabets, it shall be the endeavour of teachers to rephrase words. For example, instead of A for Apple, they would teach A for ACC, B for Bajaj, C for Cipla and so on to S for Sensex. Further, all TV channels, including cartoon channels, will have stock tickers running across 24/7. I also propose to declare BSE and other stock exchange buildings as heritage sites and encourage heritage tours to these sites from schools and colleges.
(Look out for flying objects and do your best to duck them. Make sure you don’t end up with a ‘shoe’string Budget, pun intended).

This august house will agree that our past efforts at creating SEZs have only ended in litigations. Therefore, for the sake of our professed goal of a permanent bull market, I propose to convert these non-starter SEZs into capital market theme parks where replicas of charging bulls will be accorded pride of place. I do not want the honourable members to misunderstand me; I am not competing with statues of elephants or people installed elsewhere. Ours is not a party that resorts to such tactics to propagate the names of leaders only to face the court’s ire. We have long made our leaders known by naming various schemes and bridges after them.
(Turn to Soniaji and smile. Expect thumping of desks from your colleagues while drinking more water).

I shall now turn to direct proposals.
The honourable members are aware of the trauma experienced by thousands of investors last year. I now propose to rehabilitate the victims of 2008 crash by allotting 100 shares each of our navratnas. I also propose to start a New National Pension Pool (NNPP), from which pension would be issued to stock market retirees in appreciation of their contributions.

I also propose to issue monthly train passes to those earning less than Rs 10,000 a month from the market. For this idea, I have to thank my respected colleague Momotaji.
(Turn and wink at Mamata Banerjee).

Madam, our government believes in inclusive growth. Therefore, we want our farming community to join in our effort of building a permanent bull market. I propose to build a National Investment Corpus and farmers and other professionals would be encouraged to contribute to this and enjoy a 100% tax deduction. This emergency corpus will be used in the event of a crash in the market.
(Pause for a while, before you read the next para, put a smile on your face and keep a hand free for some chest thumping).

Madam Speaker, I am going to make a special announcement. Honourable members would be proud to learn that the total size of our nation’s black money has crossed Rs 25,00,000 crore. I remember, the amount was just under Rs 1,000 crore two decades ago. This means, as in the past, most of this money will come to the stock market through various routes such as Mauritius, with or without the PN tag attached to it.
(Pause for a generous thumping of desk, even from the opposition. This is going to last for a while as most members of the House, including the Opposition, have a stake in this. You can use the opportunity to thump your own chest).

Madam Speaker, my government has a lot to thank Dalal Street for. On our second coming to power, our government was accorded a 2000-point salute, which was unprecedented in the history of the market. Not even President Obama was accorded such a welcome. It is only fitting then our government returned the favour. Joi Ho Sensex!

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