with the Friday tray of goodies gone..and diesel nad LPG upgraded to almost profitable for OMCs India inc is on a roll waiting for the fuel inflation to build up in the July treports. Stock market volumes across India, US, China and elsewhere have been down by 10-30% ( in the US NYSE now trades 17 bln shares a day) . However, the commodity prices going down have helped the cause of investors vis a vis inflation hawks and the market is showing a lot of skin and a fresh round of global FII recommendations for the next half of the year in India

Last year around the same time, we had taken up increases in the price of petrol and the cascading effect on inflation was pretty tough scare for India Inc. This time Diesel is even more directly linked to input prices thru freight but everyone would be happy if the RBI kept raising rates allowing a sneak vision of even a 20000 target for Sensex. But I would not be fooled with food inflation still 7.7%, fuels still 13% (before the impact of 5-10% hikes on Friday) and inflation still 9% for India Inc (week ended June 18, 2011) 

Also, it was great listening to Wilbur Ross on the differences between European and American Banks , the critical being that Our credit deposit ratios never exceed 75-80% unlike Europeans which thrive on 120-160% Credit Deposit ratios but Cost Income ratios are intact at less than 60% ( Of course that does not include global survivors like HSBC and StanC)

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Ticker recommendation but something close to my heart for a long time. The cardio device market is a great opportunity globally and someone with quality manufacturing facilities can really builfd on the same. Opto circuits is also a verified good corporate governance company and unlikely to be too risky at these levels. They just recd a new manufacuring/quality approvals in Japan

eGom must have released another 500k tonnes quota for sugar exports and that is unlikely to keep that sector for more than a 2-3 day buzz

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Considered a farce by many when it was introduced in October last year, the Pre Open Session Call Auction means different things to different classes of investors and traders. Members on bul and bear camps seem to take extreme positions even 20% wide in most large volume scrips like Reliance, Hero Honda (Bajaj Auto), SBI, ICICI and HDFC Bank as bonafide trades are not made on these price quotes till 9:15 when market opens. IT theoretically allows h whipsaws in trading to be minimised but just facilitates a minimum mass for each side and speaks ranges in the market for traders. 

It has however become important for people / Finvestors esp those probably exposed to overnight price discovery thru ETFs while existing SGX and CME nifty contracts remain locked with a few market makers who are not able to track the market expectations on thin trading volumes for effective price discovery. 

It also gives market makers on different exchanges BSE and NSE the opportunity to play out opposite trend expectations without much trasding damage and then move in tandem during market open

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Though promoters would also be using it when they pledge shares and misusing the practice ( see Promoters' scourge..) the concept of negative lien is one of the few best practices we mainain that make prime borkerage and lending against shares as alo various agreemens with capital market intermediaries..self regulating. Any lien on yor shares should not mean they can be sold as collateral the day there is a drop in your margin without allowing extra days on penal interest andor chances to repay on a reaonable basis.

Also, this avoids mass sell off of securities in disused accounts if used as larger operations organisations like the NSDL , offshore and distributed globa l ops and direct brokers try to walk a thin line between chicanery and 'best for the customer' Given the complexity of such contracts and necessary flexible conditions on higher value accounts where the fine print gets distributed between different departments, there would be no greater disservice than if your shares are sold off without your knowledge and or without due notice

Negative lien implies distinctly that the lien marked to the lender/contract excuor/holder does not allow such entityindividuals to dispose off the sahres making it mandatory for the owner to sign them off his securities account

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..and then by 10:30 may skip the fuel issue

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India's asynchronous naure withthe global Economy has more or less been locked in by a past generation's ascendancy to the senior positions. Even in my colleagues (peers) I would find the unemployable having stuck to their positions and holding positions of influence in the few MNC corporations and global consultants that are India-centric in one or other key strategies. The situation ant the senior levels has always been used as an excuse to rejuggle portfolios and in some cases fatten middle layers without any career visibility and without focus on keeping strengths as the companies have few hiring department staff who can work with qualitative factors anymore  and no India offices/branches/franchises ever having allowed any performance based arguments on who or what should lead their Office. The top employers surveys by AON Hewitt and by ET-GPWI both do show up these glaring deficiencies, but more importantly for a lot of India's senior management layer, it means an abrupt end of the road a middle / regional levels and we keep getting Mis s World / Miss Fashion kind of global nominations once a year to offset that imbalance. Somehow, our hiring departments focus on the TT ratio for cost effectiveness has cost us the plot and we are busy using he same as bargaining chips for the hundreds of internal movements, the real talent having been neglected watching from the sidelines..another humdrum year of ennui where none of the unemployables remaining in those positions need do anything to keep their job or even the next promotions by virtue of sitting in their current seats of unachieved and untempered workability negotiating new office deals and water bridges to go to Africa gleefully 

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The Samsonite Campaign by JWT Shanghai won the GrandPrix in the Press Lions, with P&G USA winning Gold Lions alongwith Perfetti India for their Fusion Ecoglide razors

The contingent from Brazil and others from Latam like Chile and Argentina had a very happy break ahead of the weekend with 52 citations in Silver and Bronze Press Lions for Brazil, including Fiat, Kia , Volkswagen and other auto campaigns all winning metals. Gold Lions also had 5 citations for Lady Gaga, Madonna and other Billboard Press ads for Brazil

Cyber and Design Lions were also announced before the finale on Sunday when more metals are due. The Cosmopolitan of Las Vegas and Digital Kitchen of Chicago walked away with the Design Grand Prix while P&G shared Grnand Prix honors for its Old Spice (body Wash)  Response Campaign in the USA

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