Newspaper Summary - Financial Express - 27th September

1)THE INDIAN ECONOMY IS OVER HEATING:-

With foreign investors having bought stocks worth more than $ 16 BN already this year, its not surprising that the sensex is back at Rs. 20,000. The Global Head of Macro and investment Strategy Mr. Philip Poole, at HSBC Global Assets Management tells Shobhana Subramanian about the over heating of Indian Economy. He believes that the GDP rate of India increasing consistently. He said that the Indian market is very developing market and the number of MNCs are investing the money in India.

2)PORT TRUSTS FREE TO LEASE SURPLUS LAND FOR REALTY:-

Government has decided to lease almost 50,000 acres of surplus lands which are in the coastal cities like Mumbai, Kolkata and Kochi. The whole process of leasing the land to real estate companies by bidding and after that the company will decide what they want to do with this land. And in this kind of auction the main role played by the shipping ministry and it will be transparent and based on the all the rules and regulations.The shipping ministry has given in-principle approval to 12 major ports to lease surplus land to real estate companies for residential property development .The shipping ministry has permitted the cochin port trust to lease land to developers for 60 years.
The price expected by the government in mumbai is Rs.500 crore and kolkata it is Rs.50 crore respected to same area because there are lots of price fluctuation varying on cities to cities.

3)JAPAN EYES IMPACT OF PRICING YEN ON ECONOMY,TO EASE POLICY IF REQUIRED:-

The Governor of Bank Of Japan,Masaaki shirakawa said that Japan will ease monetary policy appropriately if necessary. He said that the Japanese Central Bank had done the most aggressive easing in the world when looking at the size of its balance sheet in comparison with gross domestic product.He also said that they are watching how the yen's current gain affects the japanese economy. Shirakawa also defended the banks current policy frame work describing it as advanced and flexible.





4) INFLOWS INTO ETFs PUMP UP EQUITIES:-

Negative flows into non-ETFs(exchange traded funds)indicate that it is hedge funds rather than retail investors who are behind the buying.This time ETFs shows that large amount of inflows of $18bn more than reversing the $11bn of outflows over the previous last four weeks.There was a big shift towards utilities and telecoms in August,the sectors with the highest dividend yields,at the expense of industrial and technology.


5) NALCO KEEN TO DEVELOP IPPs WITH ORISSA PSUs.

National Aluminium Company LTD has mentioned to develop independent power plants in ORISSA in partnership with orissa thermal power corporation(OTPC), orissa mining corporation(OMC) and orissa hydropwer corporation(OHPC).OMC is proposing to set a 1,320 MW(2*660 MW)thermal power plant with an investment of RS 6,120 Crore. NALCO has offered to partner OMC and express interest to set up the power plant.The Chief Minister assured the NALCO CMDthat the state will consider the proposals for partnership between the central PSU(Public Sector Unit) and The state PSUs.

6)In 2009-10, coffee exports up 50%. As per the latest statistics available with the Coffee Board, exports climbed up 53% to 2.65 lakh tonnes in the current coffee year from 1.74 lakh tonnes recorded in the previous year.



Group 1
Section- I
Abijit Das
Abhishek Dudani
Abhi Garg