Tatasteel fell below Rs. 400 on Friday, as it announced dismal results in 2012. With an EPS of just Rs. 4 for the last quarter of FY 2011-12, and a drop of 42% in full year EPS (Rs. 53.63) compared to the earlier year (Rs. 92.86), the share price doesn’t look quite that cheap either. [...]

Posted in Credit Repair, Uncategorized Comments Off

With popular request (from Kaushik) I have updated the Market Cap to GDP chart for India. Market Cap is the total NSE Market Cap at the end of the month, and GDP is known quarterly, so I put it in at the last month of the quarter. At this time, we only know about GDP [...]

Posted in Credit Repair, Uncategorized Comments Off

RBI allows exporters to hold their forex earnings in an Exchange Earners Foreign Currency (EEFC) account. This is so that they can pay in forex for stuff they want to buy, and save on the round trip transaction costs (of conversion to rupees and then back to dollars). To stem the rupee downslide, RBI has [...]

Posted in Credit Repair, Uncategorized Comments Off

Jim Grant usually has excellent things to say, and he raps the Fed on their knuckles, in their very office, in a brilliant speech. (Note: I don’t agree with all of it) Specifically, he asks us why the Fed should not do the "right" thing, that was done after the depression of 1920-21. My reading [...]

Posted in Credit Repair, Uncategorized Comments Off

RBI has announced an Open Market Operation (OMO) to buy Rs. 12,000 cr. (120 billion) worth of government bonds, on Friday, May 11. Bond Yields have fallen marginally from 8.69% to 8.61%. This is probably in light of RBI’s defense against the rupee fall to nearly the 54 levels against the dollar. When the RBI [...]

Posted in Credit Repair, Uncategorized Comments Off

Slideshare has just been bought by LinkedIn for $119 million. Slideshare allows you to share documents on the web, and lets you embed them on web sites or view them online. Slideshare saw about 29 million unique visitors in March. (This is, let’s see, just 1000x the number that Capital Mind sees, so my valuation [...]

Posted in Credit Repair, Uncategorized Comments Off

The Reserve Bank of India cut interest rates by 0.5% overall, in order to help stimulate flagging growth. The repo rate (at which banks borrow overnight from the RBI) which is now at 8%. The 50 basis point (one basis point is 1/100th of a percent) cut is a big one – markets expected a [...]

Posted in Credit Repair, Uncategorized Comments Off

The National Payments Corporation of India (NCPI) has started Rupay, a domestic card payment network. NPCI already is at the back-end of the India wide bank ATM network and runs IMPS, the Interbank Mobile Payment Service (Read of my experience with IMPS). It has the ability to instantly find out, given a debit card, how [...]

Posted in Banks, Credit Repair, CreditCards, Uncategorized, rupay Comments Off

I’m moving, next week, to Bangalore. Twitter followers may already know, since I’ve been talking about it on and off. We moved out of BLR in 2008, to Mumbai, then to Gurgaon in 2009 and we’re going back in 2012. I’ll be in Bangalore after April 5. On that note: I’m looking for a 3-bedroom-or-more [...]

Posted in Credit Repair, Uncategorized Comments Off

This is from my pre-budget Yahoo post, now updated a week later with post-budget values. Update: The market moved down 1.16% on budget day 2012, mostly post the budget speech. In the run up to the budget, and a few days after, the markets have reacted differently. The average budget day move, since 2000, is [...]

Posted in Credit Repair, Uncategorized Comments Off