Opening Bell 16 August

Opening Bell 16 August

Mumbai: Wake up from your post-Independence day hangover folks! Don’t feel helpless and have faith in yourself: those were the Prime Minister’s words. He also said a lot of other stuff, nothing one hasn’t heard before, but take a peek at.

Here’s a list of other things to watch out for before trading starts.

The Apple-Android wars are heating up. Google is spending $12.5 billion to buy out the mobile phone division of Motorola. What’s next? Nokia?-

The Google deal fired up stocks and the US markets have recouped most of the losses made during the past week. The S&P 500 rose 3.2%. Most Asian markets too opened strong today morning.

The States are coming good on their promise to clean up electricity distribution utilities. Most of them are converting their loans to these utilities into equity which will boost the net worth, with Bihar leading the way. But with the country’s power deficit at 12.7% don’t expect power cuts to go away yet. Read Mint’s story....

Black money is continuing to flow copiously into our stock markets, a Sebi investigation indicates. But banish all thoughts of hawala money being responsible for the recent volatility in stock prices. For that we have our favourite scapegoats of the US, Europe and the Indian cricket team.

The government plans to lower the price of food grain allocated to states to sell in the open markets. States make these sales after fulfilling their public distribution system (subsidised sales ) requirement. The centre reckons that this will help clear warehouses. Read more...

After dumping CEO S Gurumani, the board of SKS Ltd wants Vikram Akula to step down as executive chairman because he doesn’t have time to be a full executive. Will that be enough to pull SKS out of its current mess? Akula, it seems is pursuing legal options. Oh, by the way, have you ever heard of Frankenstein?

The introduction of the Direct Tax Code, for the moment, is between God and Pranabda. Now, the government is considering a fresh tax surcharge to fund free healthcare. Yup, give up taxi, walk to work and with that savings, pay the tax. It’s good for your health too.

And finally, it seems a Maharashtra taskforce has found political activist and reformer Anna Hazare guilty of ….hold your breath… corruption. It has alleged that Hazare blew up some 2.2 lakh of trust money for his 60th birthday celebrations. Hmm, is the Empire striking back? In related news, 50 of his supporters have been picked up by the Delhi Police at the venue for his anti-graft fast. Read...