Good Joke--A --By PK

A teacher in a mathematics lecture asks a 3rd std Class," If there are 3 birds on a tree and u shoot one of them, how many birds would remain?? ". Johnny, the naughtiest of the lot, shoots up his hand.
Teacher: "Ok Johnny, what’s the answer?”
Johnny: "None, Ma'am.”
Teacher: "How?"
Johnny: “After hearing the shot, all the other birds will also fly away."
Teacher: “No Johnny, the answer here is 2, but I like the way u r thinking.”

Now Johnny has a doubt.

Johnny: "Teacher can I ask u a question?
Teacher: "Sure"

Johnny: “There are three ladies having ice cream at the parlour. The first one is eating it; the second is licking it while the third one is sucking on it. Can you tell which one of the ladies is married??"

Teacher is terribly embarrassed, but she puts on a brave face and answers.
Teacher: "I....I......I guess the one which is sucking on the ice cream is married."
Johnny: "No ma'am, the one who has the wedding ring on her finger is married, BUT I LIKE THE WAY U R THINKIN!!!!!”

Men ..Love to go to atm

Rakesh Jhunjhunwala -- latest positions

Rakesh Jhunjhunwala – What is the Big Man bullish on?


Best Quote: If you find an idea that you are convinced of take a position which if proved correct makes a meaningful difference to your Balance Sheet.




Rakesh Jhunjhunwala's latest Portfolio








The Total value of this portfolio is Rs 3829 crores.

Colors in blue represent stocks where holdings have gone up and in red represent stocks where holdings have gone down.
Piquant Observations:

· One of the smartest investors in India believes in the benefits of portfolio concentration. His top 5 holdings account for 54.67% of his portfolio and his top 10 holdings account for almost 80.00% of his portfolio.

· This portfolio has the latest market cap and the Price to earnings ratio as spruced from money control. The average weighted market cap of the portfolio is Rs 5276 crores only whereas the average Price Earnings ratio adjusted for the companies that have no earnings is 52.77! But most of these smaller capitalized companies with earnings visibility and a big moat.

· It is said that he has exited his holding in Hindustan Oil and increased his stake in Rishi lazer.

· The underlying theme in the portfolio remains domestic consumption (Titan and Pantaloon,), Infrastructure (Nagarjuna Construction and Punj Lloyd) , pharma (Lupin and Bil Care) and financial Services (Crisil and Karur Vysya Bank.)

· It is very hard to find a cyclical or commodity stock in his portfolio.

· Unlike the general investor none of these stocks are large caps in the true sense of the definition. Of Course he could be holding future positions in large caps but the point that I am trying to make is money is made in small and mid caps only. The notional losses that an investor can suffer are also the highest in these stocks. It is very important for an investor not to convert these notional losses in actual losses by selling the shares in despair.

· Most of these stocks are being held for over 3 years. Companies like Titan, Pantaloon Retail fall in that category. Others like Crisil are being held for more then 5 years and some for even as long as 10 years. – Clearly Time and not timing is the key to these markets.

· Almost all these companies are looking at a huge external scale of opportunity whether it is a Titan or a Pantaloon a Nagarjuna Construction or Lupin the sheer size of the addressable market is humongous. – Morale of the story “See the Bigger Picture”.

· We do cover companies with huge scale of opportunity The Equity Desk Report card section.

· Rakesh has a special corner for companies that are engaged in consumer, infrastructure and pharmaceutical space. Otherwise he is betting on rising crude prices by buying stocks like Hindustan oil exploration and Praj Industries The overall portfolio is well diversified except that he is not holding any metal or cyclical stocks.

· These shares are held by Rakesh and his wife Rekha Jhunjhunwala and form a part of his disclosed portfolio. He could be holding more shares through companies, trusts, proprietary accounts which are not in the public domain.

· To know more about investing

Is the software profession losing its charm?

Strong rupee and sub price crisis of United States is troubling the Indian software companies. Various companies are trying to tide over the tough time by reducing the salary of its employees while some are going to the extreme of mass layoff.

THE STRENGTHENING of rupee, imminent recession in US, sub prime mortgagee crisis in US and its worldwide coupling effect - it seems that everything is going against Indian software industry. On one side, due to slowdown in US economy and effect of sub prime crisis in US as well as in Europe, search of new clients and increasing the contracted rates are becoming tough for software companies and on the other side, whatever income realisation these companies are getting, the strong rupee has eaten it by more than 10 per cent.

Indian software companies are taking tough decisions in tough business environment for survival in this difficult time. The decisions are ranging from mild wage cut to as stiff as axing from job. On January 30, India’s largest software company Tata Consultancy Company (TCS) has announced to cut the variable component of its employee and on an average, the cut will affect the employee’s salary by anywhere between 1.5 – two per cent less this month and onwards. Though 1.5 – two per cent cut does not look very huge in the industry, which is suffering, but getting less salary is certainly pinching the employee. But it appears that the company may not have any other choice keeping in view that they have maintained the same level of salary despite appreciation of rupee since last one year. It is also correct that if a company’s stake holder and shareholder are facing lower returns (in the form of depreciated value of the company share), then some brunt should also be borne by the employee.

It is not that only employees of Indian software companies are in tough water, yesterday news has come that International Business Machines (IBM - the multinational software giant) is also trimming its payroll list. An estimated 700 fresher employees have been given the ‘pink slip’ (an American practice of retrenching people when notice of termination is given on a pink paper and wrapped in an envelope). Most of such employees are Entry Level Trainee Programmers (ELTPs). IBM is claiming that the layoff is based on the performance of the employee but sudden retrenchment, it seems, is an after effect of the poor performance of its India operations. It may be learnt that IBM does not have its own developed software as companies like TCS or Infosys do. Rather IBM provides complete software (for the software of TCS or Infosys or I-flex companies etc) solution package and it is something like contract services. So naturally, if the software companies will be affected then IBM performance also will be affected.

The hiring spree of the software companies is also at low ebb. It may be evident by the less number of recruitment advertisements appearing in the newspapers. Already so many software companies are suffering due to increasing number of attrition.

Though big companies are managing their profit during the year by hedging their overseas income through forward contract, the real acid test is for small and medium-sized companies who do not have a big established full-fledged treasury department. The small companies are really facing the worst time, as going for search of new customers and new currency (Euro) in Europe would be a tough task owing to wide spread sub prime crisis effect.
The share prices of all Indian software companies are at the lowest level in the near past. This shows that even Dalal Street is also not coming to rescue with software companies in tough times. Once a blue-eyed boy of Dalal Street, Infosys is showing lowered strength in each session of trading at the bourses

-- http://www.merinews.com/

Wonderful Photos --Soundar

Wonderful Story

An old American Muslim lived on a farm in the mountains of eastern

Kentucky with his young grandson. Each morning Grandpa was up early sitting at the kitchen table reading his

Quran. His grandson wanted to be just like him and tried to imitate him in every way he could.



One day the grandson asked, "Grandpa! I try to read the Quran just like you but I don't understand it, and

what I do understand I forget as soon as I close the book. What good does reading the Qur'an do?"



The Grandfather quietly turned from putting coal in the stove and replied, "Take this coal basket down to the

river and bring me back a basket of water."



The boy did as he was told, but all the water leaked out before he got

back to the house. The grandfather laughed and said, "You'll have to move a little faster next time," and

sent him back to the river with the basket to try again. This time the boy ran faster, but again the basket

was empty before he returned home. Out of breath, he told his grandfather that it was impossible to carry

water in a basket, and he went to get a bucket instead.



The old man said, "I don't want a bucket of water; I want a basket of

water. You're just not trying hard enough," and he went out the door to watch the boy try again.



At this point, the boy knew it was impossible, but he wanted to show his grandfather that even if he ran as

fast as he could, the water would leak out before he got back to the house. The boy again dipped the basket

into river and ran hard, but when he reached his grandfather the basket was again empty. Out of breath, he

said, "See Grandpa, it's useless!"



"So you think it is useless?" The old man said, "Look at the basket."



The boy looked at the basket and for the first time realized that the

basket was different. It had been transformed from a dirty old coal basket and was now clean, inside and out.



"Son, that's what happens when you read the Qur'an. You might not

understand or remember everything, but when you read it, you will be

changed, inside and out. That is the work of ALLAH in our lives."



Isn't it in every religion?

Warren Buffet -Golden Rules For Stockist

• "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."

• "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

• "You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right—and that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else."

• "Our favourite holding period is forever." Letter to Berkshire Hathaway shareholders, 1988

• "When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact."

• "Risk comes from not knowing what you're doing."

• "If you don't know jewellery, know the jeweller."

• "If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes."

• "There seems to be some perverse human characteristic that likes to make easy things difficult."

• "One’s objective should be to get it right, get it quick, get it out, and get it over... your problem won’t improve with age."

• "A public-opinion poll is no substitute for thought."

• "In the insurance business, there is no statute of limitation on stupidity."

• "If a business does well, the stock eventually follows."

• "The most important quality for an investor is temperament, not intellect... You need a temperament that neither derives great pleasure from being with the crowd or against the crowd."

• "The future is never clear, and you pay a very high price in the stock market for a cheery consensus. Uncertainty is the friend of the buyer of long-term values."

• "We will only do with your money what we would do with our own."

• "Occasionally, a man must rise above principles."

• "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."

• "Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked."

• When asked how he became so successful in investing, Buffett answered: "we read hundreds and hundreds of annual reports every year."

• "I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because...” If you can’t answer that question, you shouldn’t buy it. If you can answer that question, and you do it a few times, you’ll make a lot of money."

• "You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it."

• "I really like my life. I've arranged my life so that I can do what I want."

• "Someone's sitting in the shade today because someone planted a tree a long time ago."

• "Price is what you pay. Value is what you get."

• "For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up. "

• "Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."

• "We have tried occasionally to buy toads at bargain prices with results that have been chronicled in past reports. Clearly our kisses fell flat. We have done well with a couple of princes - but they were princes when purchased. At least our kisses didn't turn them into toads. And, finally, we have occasionally been quite successful in purchasing fractional interests in easily-identifiable princes at toad-like prices."- 1981 Chairman's Letters to Shareholders

• "Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results."- 1974 Letter to Shareholders

• "Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid." - Berkshire Hathaway 1998 Annual Meeting

• "If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game."- 1997 Berkshire Hathaway Annual Meeting

• "Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge."- March 2003

• On acquiring bad companies for cheap prices: "In my early days as a manager I, too, dated a few toads. They were cheap dates - I've never been much of a sport - but my results matched those of acquirers who courted higher-price toads. I kissed and they croaked."

• "I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out."- Oct. 2003 talking with Wharton MBA students

• "The important thing is to keep playing, to play against weak opponents and to play for big stakes."- Nov. 2002 talking with students at Gaston Hall

TCS employee notification about salary cuts

Dear Colleagues,

Last week, TCS posted results for the third quarter of 2007-08 with revenues rising at 5.04 per cent sequentially to Rs 5,924 crore and net profits rising 6.72 per cent sequentially to Rs 1,331 crore.

As you are well aware, our variable compensation policy is linked to EVA, based on the overall performance of the company and your individual performance. The variable pay component is paid monthly, based on the company’s expected performance for the quarter. As indicated in the annual compensation letters, variable pay may change based on actual performance of the company and the ongoing performance of the individual.

In Q3 this year, we met our revenue target but we fell short of meeting our EVA target due to a combination of internal and external factors. The EVA target forms the basis for the variable pay computation and has been given in advance, each month during Q3. Based on the audited results the EVA-based variable payout amounts to Rs. 293 crore for the quarter. The actual variable payout based on expected EVA given in advance amounts to Rs. 376 crore. The advance payment that has to be adjusted amounts to Rs. 83 crore, which will be recovered during Q4 from the employees. The recovery would be reflected in your salary in the months of February and March 2008.

TCS continues to enjoy industry-leading growth. We expect to meet our EVA targets in Q4. There is a strong business pipeline and we are very positive about the future. In order to be globally competitive and maintain our leadership position, we not only need to grow revenues, but also manage our costs better and enhance operational efficiencies.

In Q4, we will follow the same basis of advance payment of Variable Pay as per expected EVA projections at the beginning of 2007-08. When the audited results for Q4 are announced in April 2008, appropriate adjustment in Variable Pay will be made either upwards or downwards as the case may be.

We will shortly let you know the actual amount to be recovered through a letter in Ultimatix. On viewing your letter, in case you need any further clarification, please send in your query to the following mail address – ......@tcs.com and we will respond to your questions

Warren Buffet --Very Special Interesting Story 1

Please read the below appended mail, some interesting facts about Warren

Buffet who feels buying stocks at age 11 was late for him.

Something to think about....

There was a one hour interview on CNBC with Legendary Investor Warren

Buffet, the second richest man who has donated $31 billion to charity Here

are some very interesting aspects of his life:

1. He bought his first share at age 11 and he now regrets that he started

too late!

2. He bought a small farm at age 14 with savings from delivering

newspapers.

3. He still lives in the same small 3-bedroom house in mid-town Omaha ,

that he bought after he got married 50 years ago. He says that he has

everything he needs in that house. His house does not have a wall or a fence.

4. He drives his own car everywhere and does not have a driver or security

people around him.

5. He never travels by private jet, although he owns the world's largest

private jet company.

6. His company, Berkshire Hathaway, owns 63 companies. He writes only one

letter each year to the CEOs of these companies, giving them goals for the

year.

He never holds meetings or calls them on a regular basis. He has given his

CEO's only two rules. Rule number 1: do not lose any of your share holder's

money. Rule number 2: Do not forget rule number 1.

7. He does not socialize with the high society crowd. His past time after

he gets home is to make himself some pop corn and watch Television.

8. Bill Gates, the world's richest man met him for the first time only 5

years ago. Bill Gates did not think he had anything in common with Warren

Buffet. So he had scheduled his meeting only for half hour. But when Gates

met him, the meeting lasted for ten hours and Bill Gates became a devotee

of Warren Buffet.

9. Warren Buffet does not carry a cell phone, nor has a computer on his

desk.

His advice to young people : "Stay away from credit cards and invest in

yourself and

Remember:

A. Money doesn't create man but it is the man who created money.

B. Live your life as simple as you are.

C. Don't do what others say, just listen them, but do what you feel good.

D. Don't go on brand name; just wear those things in which u feel

comfortable.

E. Don't waste your money on unnecessary things; just spend on them who

really in need rather.

F. After all it's your life then why give chance to others to rule our

life."

Good Quotes

1. Winning isn't everything. But wanting to win is.

2. You would achieve more, if you don't mind who gets the credit.
3. When everything else is lost, the future still remains.

4. Don't fight too much. Or the enemy would know your art of war.
5. The only job you start at the top is when you dig a grave.

6. If you don't stand for something, you'll fall for everything.
7. If you do little things well, you'll do big ones better.

8. Only thing that comes to you without effort is old age.
9. You won't get a second chance to make the first impression.

10. Only those who do nothing do not make mistakes.
11. Never take a problem to your boss unless you have a solution.

12. If you are not failing you're not taking enough risks.
13. Don't try to get rid of bad temper by losing it.

14. If at first you don't succeed, skydiving is not for you.
15. Those who don't make mistakes usually don't make anything

16. There are two kinds of failures. Those who think and never do, and those who do and never think.
17. Pick battles big enough to matter, small enough to win.

18. All progress has resulted from unpopular decisions.
19. Change your thoughts and you change your world.

20. Understanding proves intelligence, not the speed of the learning.
21. There are two kinds of fools in this world. Those who give advice and those who don't take it.

22. The best way to kill an idea is to take it to a meeting
23. Management is doing things right. Leadership is doing the right things.

24. Friendship founded on business is always better than business founded on friendship.

Thanks.


Maheen

Reliance Power allotment status

Check the allotment status here

http://203.199.177.158/ipo/

1.Select the company

2.Put your application number


All the Best

Taxes in India

TAX STRUCTURE IN INDIA

1) Qus. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX!

2) Qus. : What are you doing in Business?
Ans. : Selling the Goods.
Tax : PAY SALES TAX!!

3) Qus. : From where are you getting Goods?
Ans. : From other State/Abroad
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!

4) Qus. : What are you getting in Selling Goods?
Ans. : Profit.
Tax : PAY INCOME TAX!

5) Qus. : How do you distribute profit ?
Ans : By way of dividend
Tax : Pay dividend distribution Tax

6) Qus. : Where you Manufacturing the Goods?
Ans. : Factory.
Tax : PAY EXCISE DUTY!

7) Qus. : Do you have Office / Warehouse/ Factory?
Ans. : Yes
Tax : PAY MUNICIPAL & FIRE TAX!

8) Qus. : Do you have Staff?
Ans. : Yes
Tax : PAY STAFF PROFESSIONAL TAX!

9) Qus. : Doing business in Millions?
Ans. : Yes
Tax : PAY TURNOVER TAX!
Ans : No
Tax : Then pay Minimum Alternate Tax

10) Qus. : Are you taking out over 25,000 Cash from Bank?
Ans. : Yes, for Salary.
Tax : PAY CASH HANDLING TAX!

11) Qus.: Where are you taking your client for Lunch & Dinner?
Ans. : Hotel
Tax : PAY FOOD & ENTERTAINMENT TAX!

12) Qus.: Are you going Out of Station for Business?
Ans. : Yes
Tax : PAY FRINGE BENEFIT TAX!

13) Qus.: Have you taken or given any Service/s?
Ans. : Yes
Tax : PAY SERVICE TAX!

14) Qus.: How come you got such a Big Amount?
Ans. : Gift on birthday.
Tax : PAY GIFT TAX!

15) Qus.: Do you have any Wealth?
Ans. : Yes
Tax : PAY WEALTH TAX!

16) Qus.: To reduce Tension, for entertainment, where are you going?
Ans. : Cinema or Resort.
Tax : PAY ENTERTAINMENT TAX!

17) Qus.: Have you purchased House?
Ans. : Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE !

18) Qus.: How you Travel?
Ans. : Bus
Tax : PAY SURCHARGE!

19) Qus.: Any Additional Tax?
Ans. : Yes
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!

20) Qus.: Delayed any time Paying Any Tax?
Ans. : Yes
Tax : PAY INTEREST & PENALTY!

21) INDIAN :: can i die now??
Ans :: wait we are about to launch the funeral tax!!!

Thanks to our Finance Minsister Jii... http://www.pchidambaram.org/

Money From ATM

How a BOY withdraws cash from ATM.

1. Park the car
2. Go to ATM Machine
3. Insert card
4. Enter PIN
5. Take money out
6. Take ATM Card out
7. Drive away




How a GIRL withdraws cash from ATM
1. Park the car
2. Check makeup
3. Turn off engine
4. Check makeup
5. Go to ATM
6. Hunt for ATM card in the purse
7. Insert card
8. Hit Cancel
9. Hunt in purse for chit with PIN written on it
10. Insert card
11. Enter PIN
12. Take cash
13. Go to car
14. Check makeup
15. Start car
16. Stop car
17. Run back to ATM
18. Take ATM card
19. Back to car
20. Check makeup
21. Start car
22. Check makeup
23. Drive for 1/2 mile
24. Release handbrak....;)

Future Capital Allotment Status -- Veer

Check your luck of Future Capital Allotment

http://203.196.188.27/website/site/ipo.asp

click on "Check application Status"

select Future capital and check your allotment status.

Good Luck

Happy Republic Day -- Swami

Winners of Cubicle decoration -- Purnima

There was a Competition for the best Decorated Cubicle in an MNC company. ….

All the Employees have decorated their Cubicle… J Very Original, very Creative…

runner up…




Winner...Namma Nayar Tea shopp

programmer atmaa goshaa ...Purnima

Bommarillu and Project Managment -by kishore

See And Enjoy

Shaadi ke Baad -Brahma Brahma -- By parivesh

Corporate hospitals..Becareful

FYI

Dear All,

I would like to get one of the incident happened this weekend to ur notice.

One of my co-brother met with an bike accident and expired on Friday night.(A BMTC bus came in wrong side and hitted him)

This accident happened around 6.30 PM near whitefield and initially he got admitted to a hospital called Vydehi near whitefield.
Later it was proposed by Vydehi doctors to take him to either Nimhance or Manipal.
So we took him to Manipal around 8.00 PM since NIMHANCE is very far and also by considering traffic at that time. To reach even Manipal it took too much time, Most of the delay caused because of Heavvy Traffic in airport road. As soon as we took him to the Manipal hospital doctors said his state is very critical and 95 % he is out. Still they said they will do CT-Scanning and then they can clearly confirm the status.

Then around 10.30 PM they arranged for CT-Scanning ( Too much of delay ). Soon after the CT-Scanning one of the doctor reported his BRAIN is damaged , 2 kidney's and small lever also was damaged for which he needs to be operated for a head surgery and a stomach surgery, during the operation he may die also or at any moment he may die. Soon after they took him to ICU instead of taking him to Operation Theatre. There was around 1 hr delay in answering us back from this point. They didnt allow any of us to see him when he was in ICU untill we demanded and shouted on them. When we demanded and asked them to discharge so that we will take him to NIMHANCE, Then the answer from them was they will operate immediately but we need to Admit and pay around 2 lack Rs. Since we didnt had that much of cash and also we doubted on whether he is still alive or simply these doctors playing a game..., But still since they demanded around 2 lack rupees for the operation before they start it, I went ahead to fill up the forms and pay money immediately with using credit card , But when our uncle had a look at him in ICU noticed that he is already dead (this was around 11.30 PM). Then immediately he asked me to not to make any payment. We went to doctor in-charge and asked(when we shouted) about his status and chances of he being saved. Doctor infomred that chances are less than 1 percent, then only we realized that MANIPAL Administration guys playing a game, and trying to fool us to collect some money in the name of operations to operate a deadbody !!!

We took it seriously and tried to contact TV9 on the same day but could not get the contact numbers...,
Since we were strong enough fight back on Manipal Hospital they agreed that he is dead and asked us to pay Rs. 30,000 to release dead body.

As we know they didnt give any treatment other than doing a CT-Scan and keeping the deadbody in ICU fr 2 Hrs.. We shouted on them and demanded to release the deadbody with CT-Scan charges only. Finally we were able to fight and take the body with out paying any money as they were trying to cheat us.
Some how we escaped from being paid for dummy operations being planned by Manipal Doctors. But if it was some other innocent poor people they would have ended up with paying full money and cheated by MANIPAL.

The whole idea behind my writeup is : we all know MANIPAL is one of the big and well known Hospital in bangalore. But these people cheat innocent people by colleting huge money to operate even deadbody!!! and try to fool as if they are going to save the patient. I request you all to forward this mail to all your friends and inform every one on how BIG Private Hopspitals can cheat .. and to Beaware of these..

For more details you can reach me on 9880029811.

Thanks & Regards
Ravikumara YM
i2 Technologies India Pvt. Ltd.

Will Reliance power make us rich ...?

Business: R POWER.

The company claims that it will be developing power generation projects of 28200 MW over the next decade.

According to the IPO RHP, some of the projects that it will be developing are:

Rosa-I (to be commissioned in March 2010) - 600 MW - Coal based.
Butibori (to be commissioned in June 2010) - 300 MW - Coal based.
Rosa-II (to be commissioned in September 2010) - 600 MW - Coal based.
Shahpur Gas (to be commissioned in March 2011) - 2800 MW - Gas based.
Shahpur Coal (to be commissioned in December 2011) - 1200 MW - Coal based.
Dadri (to be commissioned in March 2013) - 7480 MW - Gas based.
Krishnapatnam (to be commissioned in September 2013) - 4000 MW - Coal based.
Urthing Sobla (to be commissioned in March 2014) - 400 MW - Hydropower based.
Tato II (to be commissioned in March 2014) - 700 MW - Hydropower based.
MP Power (to be commissioned in July 2014) - 3960 MW - Coal based.
Siyom (to be commissioned in March 2015) - 1000 MW - Hydropower based.
Kalai II (to be commissioned in March 2016) - 1200 MW - Hydropower based.
Sasan (to be commissioned in April 2016) - 3960 MW - Coal based.

If



everything goes as planned, capacity of Reliance Power at end of each year till 2016 will be:

2008: 0 MW.
2009: 0 MW.
2010: 1500 MW.
2011: 5500 MW.
2012: 5500 MW.
2013: 16980 MW.
2014: 22040 MW.
2015: 23040 MW.
2016: 28200 MW.

=======================================

Other Similar Companies:

I can think of two companies in the power generation sector that Reliance Power can be compared with:

NTPC and Tata Power.

NTPC has current capacity of 28000 MW and has target to achieve 66000 MW by 2017. ( See this thread on NTPC).

Tata Power has current capacity of 2300 MW.
It will be adding 10000 MW of capacity more by 2012. Thus, it will have a capacity of around 12300 MW by 2012 end.
The additions will all be coal based.
-Mundra Ultra Mega Power Project -4000 MW.
-Power plants in Maharastra - 3000 MW.
-Captive power plants for Tata Steel - 2000 MW
-Maithon Power Plant at Jharkhand - 1000 MW.

Tata Power also has other smaller business and also wants to enter shipping and logistics. Besides that Tata Power has investments valued at Rs 400+ per share of Tata Power. This works out to be Rs 10000 crore.

Around 2012 - 2013, both Tata Power is expected to have similar capacity as Reliance Power.

The interesting thing is at current price of Rs 1457, Tata Power is valued at just Rs 30000 crore. Remove Rs 10000 crore of investments and you can have it only for Rs 20000 crore.

At Rs 900, Reliance Power will have market value of 200000 crores....6.67 times that of Tata Power. .

========================================

Financials:

With 2300 MW capacity, Tata Power made standalone profit of Rs 700 crore in FY 2007.

With 28000 MW capacity, NTPC made standalone profit of Rs 6900 crore in FY 2007.

Lets assume Reliance Power turns out to be much more efficient than these two companies. Add to that increased power rates.

With 28200 capacity, assume Reliance Power makes Rs 15000 crore of net profit in 2016-2017. Power companies are considered as utilities and worldwide trade at 10-15 times their earnings.

Lets assume 15 times ratio for Reliance Power in 2016.

What will be its market value?

15000 X 15 = Rs 225000 crore or Rs 995 per share.

This is an optimistic view:
-there will be no further equity dilution till 2016.
-assuming nearly twice as much efficiency as NTPC.
-that all projects will be completed before 2016 end.
-the company would have paid back all debt by then and interest costs would be in similar range as NTPC.

(NTPC already has established 28000 MW capacity and comparatively much lesser interest costs. (NTPC's P&L account states Rs 1800 interest cost for FY 2007).

So what about the debt?

The RHP mentions estimated cost of six projects Rosa I, Rosa II, Butibori, Sasan, Shahpur Coal, Urthing Sobla as Rs 30000 crore+.

Analysts estimate that Reliance Power will need Rs 70000 crore of debt to finance its projects which are estimated to cost 100000 crore+.

Rs 70000 crore of debt is not going to come at 2% interest rate. Even a 6% interest would mean an annual interest cost of Rs 4200 crore. Only in 2013, the company's capacity will cross 10000 MW. Thus, I do not expect any major debt repayment before 2014. If things don't go as planned, the debt burden will make a mockery of the balance sheet.

With Rs 12000 crore raised in equity and Rs 70000 crore of debt, these whole business will become a high-risk venture.

Any unforeseen delay/derailment of plans may create major problems for this company.

========================================

Reliance Power - The Overlooked Fact:

Is Reliance Power just "Reliance Power"?

No.

It is actually "Reliance Power Limited" - a limited company.

So what does this mean for Reliance Power Limited?

It means if in the rare case, the calculations of the management go wrong and the company somehow goes to insolvency, none of the shareholders will lose anything expect the value of the shares.

If you are a share holder of Reliance Power and it goes into insolvency (unable to pay back debts), what do you stand to lose?

Rs 430 per share.

Lot of money....right?

What does Anil Ambani's AAA Project or REL lose?

Both of them had got their 45% (post-IPO) stake for Rs 1000 crore each. Plus they will each subscribe to 1.6 crore shares each at Rs 450 in the IPO......which works out to be Rs 720 crore.

Thus, AAA Project will be getting 101.6 crore shares of Reliance Power for Rs 1720 crore and REL will be getting 101.6 crore shares of Reliance Power for Rs 1720 crore.

Little less than Rs 17 per share.

This is what both the promoters are risking in this project....Rs 17 per share ; while investors will be risking Rs 450 per share.

This is exactly the reason why Reliance Power was created.

First, by contributing just Rs 1720 crore each to Reliance Power, the promoters have shifted all risk to investors.

Second, by getting 45% stake (in REL's projects) to AAA Project for a mere Rs 1000 crore, AAA Projects (and Anil Ambani) have created wealth out of thin air.

Anil Ambani's Rs 1000 crore investment will be worth Rs 100000 crore when Reliance Power lists at Rs 900.

If the gamble works, the promoters (holding 90% stake in Reliance Power) will be worth billions of dollars.

If the gamble doesn't work, the promoters will lose Rs 1720 crore each and investors will lose Rs 10000+ crore which they will be paying for a mere 10% stake in Reliance Power.

What a way to create wealth...!!!....I don't have words to describe the brilliance of Anil Ambani's plans... .

========================================

First, other companies are much cheaper.

Why should I keep a company valued at Rs 200000 crore -

when another company (with similar capacity by 2013) is available at Rs 30000 crore with much smaller debt burden and Rs 10000 crore worth of investments...........referring to Tata Power.

If Reliance Power (at Rs 900) is available for Rs 200000 crore, why not buy NTPC for a similar price ......Rs 225000 crore. NTPC plans to have a capacity of 66000 MW in 2017, while Reliance Power will have 28200 MW capacity in 2016.

Second, the risk is higher than other existing companies.

With marginally cash flows for next 5 years and Rs 70000+ crore of debt, the risk for Reliance Power is high. Tata Power and NTPC have existing cash flows to handle expansions....Reliance Power does not.

Third and the biggest factor is....the valuation of the company doesn't make much sense.

Why should Reliance Power be valued at Rs 200000 crore, when in highly optimistic scenario, it will not make more than Rs 15000 crore of profit in 2016? Even if it touches that figure of Rs 15000 crore, its market value in 2016 will not be much more than 225000-300000 crore. (if given a 15-20 times multiple).

A fixed deposit will make more money than that in 8 years.....and that too without any risk.

Also, I got the optimistic Rs 15000 crore figure by assuming two times margins as NTPC.

The fact is..... at least till 2014, Reliance Power will still be carrying most of its Rs 70000 crore debt and its interest costs will squeeze margins to a large extent.

Apples

"Hi All,


Be Careful while eating apples

Pls don't eat the skin of the apple becoz it's coated with wax

Check before you eat many of the fruits.

WAX is being used as preservation Purposes and then cold stored.

You might be surprised especially apples from USA and other parts are more than one year old, though it would look fresh. Becox wax is coated preventing bacteria to enter. So it does not get dry.

Please Eat Apples after taking the wax as demonstrated below.




__._,_.__



Regards

Shankarling B.Sonnad

+91-98866 40303"

Cricket Dictionary -- By Veer

Bucknor: (n) (adj) 1. Temporary blindness leading to missing out on the obvious. 2. To be at the wrong place at the wrong time. 3. Situations leading to grave judgmental errors. Usage: I feel bucknored by my boss ; Life often throws a bucknor at you.





Benson: (n) (adj) 1. Something that legitimises a severe bucknor. Usage: First they bucknored me and then they bensoned it! I am toast. Also see bucknor

Wake Ur Parents--- PK Singh

Effort Is important

A giant ship engine failed. The ship's owners tried one expert after
another, but none of them could figure but how to fix the engine.

Then they brought in an old man who had been fixing ships since he was a
young. He carried a large bag of tools with him, and when he arrived, he
immediately went to work. He inspected the engine very carefully, top to
bottom.

Two of the ship's owners were there, watching this man, hoping he would
know what to do. After looking things over, the old man reached into his
bag and pulled out a small hammer. He gently tapped something. Instantly,
the engine lurched into life. He carefully put his hammer away. The engine
was fixed!
A week later, the owners received a bill from the old man for ten thousand
dollars.
"What?!" the owners exclaimed. "He hardly did anything!"
So they wrote the old man a note saying, "Please send us an itemized bill."


The man sent a bill that read:
Tapping with a hammer...... ......... ........ $ 2.00
Knowing where to tap......... ......... ........ $ 9, 998.00

Effort is important, but knowing where to make an effort makes all the
difference!

A wonderful Lesson

A blonde went to a flight school insisting she wanted to learn to fly that day. As all the planes were currently in use, the owner agreed to instruct her on how to pilot the helicopter solo by radio.

He took her out, showed her how to start it and gave her the basics, and sent her on her way.

After she climbed 1000 feet, she radioed in. "I'm doing great! I love it! The view is so beautiful, and I'm starting to get the hang of this."

After 2000 feet, she radioed again, saying how easy it was becoming to fly. The instructor watched her climb over 3000 feet, and was beginning to worry that she hadn't radioed in.

A few minutes later, he watched in horror as she crashed about half a mile away. He ran over and pulled her from the wreckage. When he asked what happened, she said: "I don't know! Everything was going fine, but as I got higher, I was starting to get cold. I can't remember anything after I turned off the big fan..."

Lets not be slapped from them this time-ICC Cricket

Hi,

This is just the starting of the mail against the series of incidents that hapened on Sydney. We all have in our minds that India has really performed well in the Second Test against Australia but failed to convert that into a win because of worst Umpiring.

In my opinion that ICC should declare this test match as "draw" or abandon this match.

Also to tell you that what has happened against Harbhajan Singh might not be true.Whenever this Australians have used these means they named it as " Mental Distraction" hence no charge was filed against them and when we tried to distract them they named it as "Racial Abuse". Even Sachin as well as Umire told that nothing had happened like that but they only took into the considerations what Australians had told them as if we indians are not to be beleived.

We are not the "Passive Indians" who do not care about theis real heroes- The heroes who have brought glories and pride to our country

So those who are convinced that the Umpiring was baised and the decision on Harbhajan Singh has been taken wrongly,request them to just send a mail everyday to the official site of ICC(below is the link for that) making them know that we are the "Active Indians" who care about our heroes.

The official mail id of ICC is enquiry@icc-cricket.com .

Come on, let them know the kind of agitation strring in our minds.

NOTE:- If you have any idea to express your felling to them,kindly bring it to the notice.

******* PK Singh

New Year wishes By Raghu

New year wishes

by Swami

New Year Wishes