Clubbing of settlements
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Happy Diwali - Muhurat trading

Market Closes - 7.15 p.m.
Starts - 7.25 p.m.
Nifty's support may be in the range of 2350-2400 -India Infoline
ICICI hikes home loan rates by 1%
General guidelines for traders for best results
- Do not take only 1 out of 8 recos, build a portfolio of positions.
- Select minimum of 2 analysts out of the 4 and take all the recos of the selected analysts. You can also select all four. Take both recos of each analysts selected.
- Divide ur capital equally into the no of recommendations to be invested in.(if 4 recos selected, divide into 4 parts.
- If stock opens 5-6% up, its not a negative, the market just confirmed the analyst's opinion.
- For shorter term players, cut the losers out of that portfolio by end of the day, regardless of stop being hit or not. Carry the winners, as a winning trade is likely to get more profit if held overnight.
- Remember context of the market while taking the calls. In a wildly bullish or bearish mkt, most calls work. In a choppy mkt, the probability of calls working is lower.
- Do not add to losing positions, winning positions may be added to, in a lower proportion.
To locate the blood donor in case of emergency
EX: BLOOD B+
BLOOD DONOR WILL CALL U.
So please pass this message to all. It can save many lives.
SEBI has not issued directive to FIIs to unwind existing positions
Dont't get panic
Home Loans with Fixed cum Floating Rate
Clubbing of settlement
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Volatile Market is expected to Advance : Investors are advised to stay away

Nifty may hover around 4420 - 4560 may trade lower.
Gap Up Opening - Market may touch 3800
FM Chidembaram addressing press at 9.30am
Market may stay positive

Message from Mr. V.Vaidyanathan, Executive Director ICICI Bank Ltd
If you are not able to view this mailer properly, please click here.
Dear Customer,
We are aware that you are being misled by numerous malicious and baseless rumors. Many of these are via SMSes. Many of our customers have written in to us expressing solidarity and confidence in our relationship, and have mentioned they have dismissed these rumors, for which we are grateful. Still we know that these rumors may cause you distress and doubts. You are our valued customer and we would not like you to have any of these feelings. So we have now chosen to write to you directly to allay your concerns if any.
You would have seen the categorical endorsement of the soundness of Indian banking as well as ICICI Bank's sound financial health from the RBI and the Finance Minister. You would have also read about the unequivocal certificate of confidence reposed on us by S&P an independent rating agency of repute. We have categorically and in a transparent manner disclosed that
We have ZERO exposure, directly or indirectly, to US sub-prime
We have 150% more capital than what Banks are required to have, and we are one of the highest capitalized banks in the country
We have a AAA rating
We have sound liquidity to meet your needs whenever you need and in what ever amounts you may need
Your bank has grown and achieved its status of pre-eminence due to the patronage and trust you have reposed thus far in us. We have made many an Indian smile with a house, car and every banking need dreamed of by Indians. I am sure nothing factually or otherwise has changed in our relationship that we should let baseless rumors cast doubts in your mind. We once again want to reaffirm to you that the bank you have built and assisted to grow to pre-eminence will be with you day and night. We take pride in serving you and being the bank of your first choice.
We desire and request the continuance of your unwavering trust and relationship. We promise to you that not only your deposits but all your interests are safe and secure with us. In case you need to reach us, kindly write to us at customer.care@icicibank.com.
Sincerely
V. Vaidyanathan
Executive Director
ICICI Bank Ltd
ICICI Bank on Sunday filed a complaint against some brokers and websites
One of the sms listed in the complaint read, "kindly withdraw all your deposits and cash in account with ICICI Bank as ICICI bank already rushed to RBI for insolvency." The accused are trying to spread false, baseless and malicious rumours about the financial status of the bank that contain knowingly false, baseless and incorrect statements against the bank that can lead a lay public astray, it said. These rumours, it said, are being spread with the intention of undermining the faith and confidence depositors and investors.
Following the rumours, the shares of the ICICI Bank tumbled by over 20 per cent to Rs 364.10 on Friday.
The concerted effort to spread malicious rumours could be new form of economic terrorism (akin to how counterfeit currency is put into circulation to lower the public faith and confidence, and cause national economic interests to be compromised), it said.
Overseas lending to blue-chip firms only, safe: ICICI Bank
Kochhar said the credit profile of even its subsidiaries abroad was very good and stable and bank’s position have been vindicated by global rating agencies like Moody’s and S&P. While assigning a strong credit profile for ICICI Bank’s UK subsidiary, credit rating agency Moody’s has said that it “has robust asset quality ratios with no loans classified as impaired, a rather conservative investment policy and no sub-prime assets.” The balance sheet size of the UK subsidiary is USD 9 billion and USD 4.5 billion is the size of the Canadian arm, Kochhar said.
She noted that the bank’s foreign subsidiaries are well capitalised and they are in good shape. The capital adequacy ratio of its British arm is over 17%. The bank’s financial position remains strong and this fact has been already endorsed by RBI, Finance Ministry and now even global credit rating agencies, she added. Asked about the mark-to-market losses as of 30 September, Kochhar said, it is a listed company and at this point of time accounts are being finalised. As of June 30, the bank had MTM losses of about $93 million. Of this, the UK arm contributed $60 million and remaining came from Canadian subsidiary.
ICICI Bank sending SMS to customers
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Bottom still away - Says India Infoline
Call for NGO's to work in Bihar
Thanks to the breach in the main embankment of Kosi river in the Nepal border, flood situation has arisen in 5 districts of Bihar, the worst affected being Supaul. Now, the Kosi ( " Sorrow of Bihar") river has changed its entire course and is now passing in totally different direction, flooding hitherto nonflooded areas of 5 of my blocks. As the people have never anticipated floods, they were so shocked , many of them have left not only the district but the entire area.
1) The first priority work which the administration has undertaken is the massive evacuation exercise, removing the marooned and stranded people to safe areas. There was noteven a single boat in this area, when the flood situation has arisen. but we could manage 450 boats mostly country ones , within one week's time. But some panchayats falling in the main current of the river could not be reached with the ordinary boats we had. So, we sought for Army's help. 12 army columns have been drafted in this operation. Dry food packets have been distributed as immediate relief through Air dropping by choppers and also by boats which were sent for evacuation.
2) Out of the evacuated people, most of the upper and middle class people have managed to go out of the district or else statyed in their relatives' place. Most people mainly the poor, downtrodden who have no place to go have been given shelter immediately in the government relief camps. At one point of time, Supaul district had 76 government relief camps having a capacity of 1,30,000 providing facilities like cooked food, drinking water, medical facility, fodder for cattle etc.. since last 45 days. This herculean task is further complicated by the fact that the governmnet staff are not used to this type of work like running relief camps for such a long time and evacuating people through boats.Then, they are being given dress and vessels under the CM Relief Fund. Non-governmental agencies came in large and unmanageable numbers in the initial days, but not to blame them, they could not carry on the relief works after few days. We have evolved a mechanism of regulating the NGOs and private players who wanted to contribute their bit in relief works. None of them have been allowed to do any relief work with out the permission from district administration. They have been channelised in such a way that relief materials doesnot accumulate in few particular places but could reach the needy in remote areas too. NGOs have been totally banned from putting up their banners / flags in relief operations. Those NGOs interested in just putting up banner and getting photographed were actively discouraged and banned. this has helped in screening out nonserious / fly overnight NGOs. Weekly NGO coordination meeting was organised at my level to regulate them effectively and also to escape from the accusations from some NGOs that district administration doesnot take help from NGOs.
3) Thirdly, as per Calamity Relief Fund norms, each affected family is being provided 100 kg of foodgrains and Rs 2250 cash ( cash dole + for vessels + for clothings). So far , we could cover 1,10,000 families, including cash distribution of 23 crores.
4) The major challenge is going to be the rehabilitation and restoration of the affected area. Due to the devastation, connectivity / accessibility is a major problem which we are trying to address out. Rehabilitation package is being given a final shape by the state level committee. It seems this is going to be the more challenging work. Now, as the water level is receding steadily, people have slowly started moving back to their areas. Still, agricultual land is inundated with water, most areas being silted with sand upto 5 feet. Roads, Bridges, Buildings have seen devastating damage. True the water level is receding but surely, the problems of the people of affected area are going to remain for few more months atleast.
ANY SERIOUS NON-GOVERNMENTAL AGENCY COMMITTED AND INTERESTED IN REHABILITATION AND RESTORATION WORK COULD APPROACH THE HIGH LEVEL COMMITTE AT THE STATE LEVEL UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER, GOVT. OF BIHAR, PATNA OR ELSE ME.
Keep suggesting me better ways of rehabilitation and restoration !!
regards,
n.saravana kumar
--
Dr. N.SARAVANA KUMAR, IAS
District Magistrate & Collector,
Supaul - 852 131 (Bihar)
06473 - 223112 (O ).
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V.K.Sharma's Views

These are the views of Mr. V.K. Sharma which I strongly agree.Things look pretty gloomy this Friday morning. More gloomy than we have ever felt. None of the individual steps taken by the US , Europe or the orchestrated ones like the interest rate cuts on Wednesday taken by nations across the world seem to be working. The financial markets seem to have fallen in quick sand, in which the more efforts you make to come out, you sink more. The Dow has fallen 678 points on Thursday and is below the 9000 mark, at 8579. The Asian indices too have slumped in response.
It is useless watching the support levels in the Indices or stocks as they have no relevance in today's market. The three month Libor and the overnight rates that Banks charge each other are continuously increasing. Unless , you see a drop in these rates, don't touch equities with a pole. If the Sensex hits a circuit breaker, then of course it is a different thing and stocks could present short term upward potential. Our past targets for Sensex are 9200 for the Sensex and 2850 for the Nifty.- V.K.Sharma
ICICI Bank: Clarifies 98% of ICICI Bank UK PLC's non-India investment book is rated investment grade and above
- ICICI Bank UK PLC has zero exposure to US sub-prime credit, whether directly or through credit derivatives such as CDOI CLNI CDS.
- About 98% of ICICI Bank UK PLC's non-India investment book of USD 3.5 billion is rated investment grade and above (by S&PI Moody'sl Fitch). About 89% is rated A- and above (by S&PI Moody'sl Fitch).
- Only about 18% of ICICI Bank UK PLC's non-India investment book is exposure to the United States.
- In addition, ICICI Bank UK PLC holds cash equivalent instruments (inter-bank placements and certificates of deposit) of USD 1.1 billion.
- There is no exposure to US banks in this category.
- ICICI Bank UK PLC has a total balance sheet size of USD 8.5 billion and has zero NPLs on the balance portfolio of USD 3.9 billion.
- As on the last balance sheet date of June 30, 2008, ICICI Bank UK PLC had a capital adequacy ratio of 17.4%.
Hence ICICI Bank customers need not worry about the safety of their deposited money. But ICICI Bank's shareholders may see their value of holding vanishing fast. Yesterday ICICI Bank's ADR lost 10%.
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India Infoline says IT Q2 FY09 Preview: ‘Unexciting Quarter’
Q2 FY09 is unlikely to spring up any major surprises either positive or negative. Therefore, the upcoming IT result season would likely be a non-event with respect to stock performance. We think Q2 FY09 would not bear the brunt of the recent bankruptcies/nationalization/acquisition of the various large BFSI companies in the US. As these unfortunate events unfolded only towards the end of quarter, we suspect any critical business impact only from Q3 FY09. In Q2 FY09, we expect modest US$ growth (2-5% qoq) but strong rupee growth (5.5-9.5% qoq) in revenues due to the sharp rupee depreciation. Operating margin is likely to improve materially for most companies except for those who have implemented salary hikes (Satyam, HCL Tech and Wipro). We expect Infosys and TCS to lead Q2 FY09 performance with double-digit operating profit and earnings growth.
Source: India Infoline Resea rch
The US Federal Reserve has reduced the lending rate by 50 bps to 1.50%

Update: Market in fact has fallen to a new low despite CRR Cut due to panic and very weak global cues.
Banking Interactive Service "ICICIACTIVE" on DISHTV Platform

Through ICICIACTIVE, Dish TV viewers will be able to get information about various types of ICICI Bank accounts and deposits that suits their need. The range of information will include product features, EMI amount on various loans, eligibility criteria, documentation, time required for processing a request, bank’s ATM / branch locators, which will enable them to take relevant financial decisions. Information related to these products and services will be shown on the DISHTV TV screen along with the Toll free Customer Service number which will allow the viewers to call and apply or seek further information on a product, of their choice.
online resource for information and analysis of corporate bonds and securitised debt
Yahoo introduces Yahoo! Calendar Beta

- Sync using Yahoo! Autosync or Intellisync for Yahoo!
- Sync with Blackberry Desktop
- Yahoo! Groups Calendars (still available directly in Yahoo! Groups)
- Sports, Finance, Weather, and Holiday Time Guides
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- Calendar Plug-in in Yahoo! Messenger
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Another 100 points down?
Yesterday NTPC alone showed some life. Don't short that counter. You can short Reliance, RPL and ICICI Bank.
Anybody knows what is happening in the market?

I don't wish to do the futile exercise of predicting today's market range.
Next nifty support leavel @3650 says India Infoline Ltd
To quote from that reportIndia Infoline Ltd. in it's weekly wrap stated that there is every chance of the Nifty sliding to 3,650, which seems to be the next support
For full report please click here.After several unsuccessful attempts to form a base around 4,280 (38.2% retracement from the previous high on monthly charts) in July and August, the Nifty slid to new lows of 3,715 in September. Every attempt at a recovery has been futile due to sustained selling from FIIs. Friday's session (October 3, 2008) was no different and the Nifty closed lower by 3.4% at 3,818. In the near term, a lot will depend on the developments over the weekend in the US with respect to their bailout package. However, there is every chance of the Nifty sliding to 3,650, which seems to be the next support. This is the 50% retracement level and coincides with the support of the long term trendline at 931 levels from May 2003. Even if the bailout does go through, any sentimental upmove would be short-lived and the Nifty would struggle to sustain a level higher than 4,200-4,250.
Latest Official News on ICICI Bank
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Interest @ 3.5 % per annum on individual /Joint and group accounts. 3% per annum on public accounts.
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Interest compounded six monthly but payable at maturity. Rs. 100/-grows to Rs. 160.10 in 6 years. Annual accrual of interest on investment of Rs. 100/- is as under and in proportion for other denominations.
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Minimum Rs. 100/- No maximum limit. Available in denominations of Rs. 100/-, 500/-, 1000/-, 5000 & Rs. 10,000/-.
A single-holder type certificate can be purchased by
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Special deposit schemes for Retiring Employees of Public Sector Companies also available. Visit your nearest post office to know more.
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Information and opinions provided on this website (www.investchips.com) has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. Investchips.com and its affiliates, information providers or content providers and R.John Christy and his Family shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this website or feeds, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. Investchips.com,its affiliates, information providers ,content providers and R. John Christy and his Family shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this website. Any action you choose to take in the markets is totally your own responsibility. Investchips.com and R. John Christy and his Family will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. Opinions expressed by R. John Christy are his own and not of his past, present and future employers.
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