I Love FIFA World Cups….for more reasons than one!

Distinctly remember the Family excitement during the FIFA World Cup 2006 in Germany…. A leading Mumbai Tabloid was running a Daily SMS Contest on guessing the Winner in the Day’s matches… I have this habit of reading Mumbai’s two afternoon tabloids while having my lunch… and so I was on one Monday afternoon in June 2006…. June 19, 2006…. That day Spain was to play Tunisia and the contest was to guess who would win…. To take Chances is my Profession !… and I love entering such contests where you don’t have to exercise and stretch your Brain Cells and which does not taunt your IQ Level… and so reflexively I had send a sms that Spain would beat Tunisia that day and promptly forgot all about it… even saw the match till half time when Tunisia was leading 1-0….. next day Tuesday Morning I receive a wake up call on my mobile at 7 am !

Caller : ” Hello is this 98201…..?’

Me  (Yet to wake up  fully) :”Huh ?”

Caller :”Congratulations ! You’ve just won a 42 Inch Plasma TV in yesterday’s Contest!…..can you come to our office at 11 am for a photo shoot?”

Me (Still Sleepy): ” Contest ? ! It’s a bit too early…. can you please call later”

My wife : “Who was it ?”

Me (yet to sink in): “Somebody saying I won a 42 inch Plasma TV in a contest I entered yesterday”

Wife : “What !… and you told him to call later !…. you did not even give him your name !”

Me (now forced to wake up) : ”Must be a Joke”

Wife : “It’s not April the First and who would joke like this on a Tuesday morning!”

Anyway, it being a Tuesday, my wife and I vist the Siddhivinayak Temple in Prabhadevi in Mumbai and the Shrine of Infant Jesus and St Anthony at Worli…. It was past 9 am and we were driving towards the Temple when the Caller called again

” Sir, I had called you earlier this morning……”

To cut it short, despite down 0:1 at halftime, Spain had gone on to win the match against Tunisia 3:1 and this tabloid had pulled my mobile Number from over Eight lakh entries as the Lucky Winner !

How’s that for Luck and Probability !!!

As I was unable to go at 11 am for a photo shoot at their Parel Office, I send them my standard serious (wife thinks Glum ) face passport size colour photo by email… and I suppose all of you will say that a Wife is always right !

My Mom… she was alive at the time…. was outright disbelieving…. till I showed her my Photo as the Winner on the Front Page of the Wednesday, June 21, 2006 Edition that my office staff had already purchased several copies of before I reached office… Diwali Bonus, however remained at the same level that year !… A Scan of the the relevant section of the Front Page with my Photo is reproduced above

I was kicked…. as I was featured next to my favourite Bollywood Actress, Madhuri Dikshit nee Nene and below me was a cheering and gorgeous German Woman Football Fan with the name of the Popular German Footballer ’Ballack’ painted across her Bare Chest… The second Scan above is the original

Friends and Clients had called in to congratulate… apparently they too have the habit of reading afternoon tabloids !

As a kick, and it was a joint decision !, my ace multimedia professional wife removed the name ‘Ballack’ and inserted my name ‘Gaurav’ across the Woman Fan’s Chest and emailed it to all our friends !… It was Fun !… It’s the first scan above… You would be kicked too if you had been in my place !

However, I had to call the Tabloid several times  to force them to arrange the TV so I could view the Sunday Finals in July 2006 ! Since it was a Daily Contest for the whole Duration of the World Cup, it seems there were 30 Winners and therefore 30 TVs to be delivered… But my calls paid off… I got a call to collect the TV on  the Saturday just before the Sunday Finals.. only Two sets were ready for delivery and they were giving me one !

I told them that I was conducting an Intensive one day workshop on Equity Portfolio Structuring and Stock Analysis at the BSE Training Institute that Saturday, but could I send my wife, children and visiting nephews from overseas who were more excited and keen… ofcourse they said, as long as I send my Mobile for verification of the SMS and Number ! …… so while I was conducting the exclusive workshop at BSE, my family, five excited members, had gone to the Parel office, collected an authority letter and then marched to Big Bazaar to take delivery of a 42 Inch Plasma TV…. when I reached later that Night, my tech savvy kids and nephews had already assembled the TV and tuned it to the cable channels…. the technician actually came later after a few days…. we all watched the 2006 Finals on a 42 Inch Plasma Screen at Home

Touch Wood, four years to date, the 42 Inch Plasma is working just fine…. The Plasma Technology and the Wider Screen brings alive Movies, Music Videos, News, Sporting Events, Sitcoms, Comedy and Drama Serials and Reality Shows…. It’s become a Family member !

Two last points…..

…..We had offered to share our happiness with relatives and friends in that they could borrow the TV for weeks at a time to enjoy too… they were kind enough to decline !

…..There is always suspicion that such contests could be rigged… but my winning proved that atleast this Contest was genuine…. so every day, I had friends and family entering the Contest… in fact my elder sister would call me to ask who the winner would be for that day’s Contest Match!…… Alas, no one won any more TVs from Family or Friends !

Now I’m awaiting some Good Fortune in this 2010 FIFA World Cup too !…. Any Contest anyone know off that I can enter !?

If you think ‘Lucky’,you’ll get Lucky !… that’s a great positive Mantra to follow… Invest in this Theme !

Cheers !

On June 15,2010,BOC announced that they had received a proposal from their majority shareholder for voluntary delisting at a price not less than Rs 225.29….The very next day BOC zoomed to a 52 Week High of Rs 314.90…It’s Rs 286 today

Check out their detailed announcement here

http://www.bseindia.com/xml-data/corpfiling/announcement/BOC_India_Ltd_150610.pdf

On January 19,2010 I had blogged on this very possibility despite Management having vehemently denied it in the 2009 AGM…Had told you’ll to take a bet on this at Rs 218….30% to 40% gains since January 2010 would have come about…Check out the details in this earlier blog below

What’s Bubbling in BOC ?…closed at Rs 218 but after recording a 52 week high of 227….Volumes are twice the two week average

Watch this Blog for a Hint of a few more MNC Companies with higher than 75% parent holding that may opt to delist rather than comply with the dictat of diluting holding to below 75% so as to ensure a minimum 25% Public Float….One is a Pharma Company…another is in IT… and one is an engineering leader

It’s a Hot Investment Theme to Invest in MNCs that are potential candidates for delisting  

Cheers !  

On April 21,2010,Kirloskar Oil Engines Ltd (KOEL) was suspended from Trading to facilitate the Scheme of Demerger…It was last quoted at Rs 175 in April on FV Rs 2 share

The Company’s new name is Kirloskar Industries Ltd (KIL) from March 31,2010 and the demerger scheme is as below

• The Business of Engines and Auto Components is transferred to the Resulting Company Kirloskar Engines India Ltd (KEIL)…KEIL has now been rechristened to new Kirloskar Oil Engines Ltd (new KOEL)
• KIL(the earlier KOEL) retains the Properties,Investments,Bank balances,and Windmill business and Liabilities that do not relate to the Engines and Auto Components Business
• The Equity Capital of KIL is now Rs 9.71 crs of FV Rs 10 after Reduction of Capital from Rs 39 crs to Rs 9.71 crs,that’s effectively from FV Rs 2 to FV Rs 0.50 and then consolidation of 20 Shares of Rs 0.50 into One New Share of FV Rs 10
• Each Shareholder of earlier KOEL will also get shares of KEIL,now new KOEL, in the ratio of 3:4…that is,75 Shares of KEIL for every 100 shares of FV Rs 2 held earlier in earlier KOEL  
• So effectively if one earlier held 100 Shares of earlier KOEL of FV Rs 2,they will now hold 5 New Shares of FV Rs 10 of KIL and 75 shares of KIL or new KOEL

KIL (earlier KOEL) resumed trading today and closed at Rs 425…It’s now merely a Holding Company of Investments in Group Companies……so what is it’s real Value?

I had a look at the latest figures at March 31,2010…It’s Equity is Rs 9.71 crs and Reserves are Rs 469 crs,giving a Networth of @ Rs 479 crs….that’s a Book value of Rs 493

However The Investments shown in the Books are Rs 471 crs at March 31,2009…of this Rs 175 crs are in Quoted Group Companies,Rs 50 crs in Liquid Mutual Funds and Rs 210 crs are in two unquoted Toyota Kirloskar Companies….it also held 62000 HDFC shares at negligible cost…..In late 2009,they had announced that the unquoted companies were being sold at Rs 250 crs lumpsump to Kirloskar Systems Ltd….So I’m assuming that current  investments would exclude Unquoted Group Ventures…but it would have Rs 250 crs in Cash reflected in the Books as of date …….furthermore as of today,June 24,2010,the quoted Investments show an incremental value of Rs 450 crs as below

Investment…..Cost in Rs Crs….Share Price……Value in Rs Crs….Incremental Value in Rs crs

• Kirloskar Brothers…9…….261….288…279
• Kirloskar Ferrous…163.5…35….231…67.5
• Kirloskar Pneumatic…2….461…..6.3….4.3
• Swaraj Engines….0.36….376……81.2….80.84
• HDFC……0.08…..3000…..18.6……18.52

Therefore adjusting the Incremental worth of Rs 450 crs of quoted Investments on the Networth of KIL,the real networth of KIL would be Rs 929 crs…this gives a new book value of Rs 957…KIL closed at Rs 425 on BSE today with average at Rs 441 and a high of Rs 650…so the quote is at a 56% discount to Real Value….this is typical of Holding Companies…the Haircut is 30% to 60% of Real Value…as these are strategic Group Holdings and the gains are therefore merely notional and not expected to be realised in forseeable future

Now the Revenues in KIL will be from a small windmill activity and from Dividend, Interest and Capital Gains Income from it’s carried forward Investments and New Investments with the Proceeds of Rs 250 crs as above….Full Year Results should show Profits of over Rs 30 crs…that’s an EPS of over Rs 30

At Rs 425,KIL is not a bargain,atleast on Forward Earnings Multiples of over 14…Price should be in this range of Rs 400 to Rs 500….but keep an eye on what it does with the Rs 250 crs and also on the Share Prices of the Companies it has Invested in…especially Kirloskar Brothers

However what comes to my miond was a similar exercise with Jindal group Companies….Nalwa Sons Investments had resulted as a group Holding Company  and it’s share price currently is over Rs 1000,more than twice when it was first quoted after the demerger a few years ago

I suspect the same scenario will be played out in KIL too over the next few years…and share price may just double from current levels of Rs 425

The Resulting Company KEIL is now rechristened to new KOEL…confusing!?…not really…..This will be listed and begin quoting a few weeks from now….remember for every 100 shares of FV Rs 2 held in earlier KOEL,one will now hold 75 Shares in KEIL or new KOEL

Look at it this way…if one held 100 shares of FV Rs 2 of earlier KOEL,it was valued at Rs 17500 at closing price of Rs 175 on April 21,2010 before it was suspended for facilitating the demerger

Now that holding of 100 shares stands cancelled and the new holdings are 5 Shares of FV Rs 10 in KIL (earlier KOEL) that resumed trading today and closed at Rs 425…so it’s worth only Rs 2125 for the 5 shares…therefore it follows that the value of the 75 shares held in KEIL,or the new KOEL now should be worth atleast Rs 15375 or Rs 205 per share so that there is a no loss/no gain situation on pre demerger and post demerger valuations….watch out for it’s listing….my sense is that it would be more than Rs 205,thus giving incremental value to shareholders on post demerger prices

I’ll also reassess valuations of KIL and KEIL or the new KOEL when I am able to access their detailed Annual Reports for the year ending March 31,2010….but I’m deducing that the Networth as at March 31,2009 that was Rs 960 crs plus Profits in FY 10 was split to give KEIL or the new KOEL over Rs 600 crs….while KIL is debt free, the Loans of Rs 350 crs would have been transfered to KEIL or the new KOEL ….but this is where the Operations are going to be in the Engine and Auto Components Segments….this had earned over Rs 150 crs profits for the earlier KOEL in FY 10

Interesting Play in these Kirloskar Group Companies is developing 

Cheers ! 

Two Rs 75 Scrips….Both yet look fundamentally interesting,depsite their significant rise past two years……Crop Protection Chemicals,Sabero Organics & Textile Retailing, S Kumars Nationwide….clients have interests in both..have recommended them earlier too…they yet look good for further appreciation to Rs 100+ in the coming Year…consider for the Growth Segment of your Equity Portfolio…they may no longer be a constituent of the Multibaggers Segment with entry at these prices

Cheers !

I’m reproducing a blog I had posted nearly two years ago on September 27,2008 on what should be the Investment Strategy going forward….this was contrarion in the face of many experts at the time who were recommending selling at every rise…sentiment at the time was getting gloomier….Sensex had reacted from 21000 in January 2008 to 13000 levels at the time…I had said it will seek sub 10000 levels,which it did a month later in end October 2008…Strong advice was to buy at Distress Prices in  2008 for fantastic wealth creation by 2010….this is exactly what has happened

Ab Kya Kare ! ? Should You Buy,Hold or Sell ?

Washington Mutual (WaMu) ,one of USA’s biggest Banks was forcibly taken over by the regulator,FDIC yesterday and sold off for US $ 1.9 Billion to J P Morgan even while the Chairman and CEO of the Bank was on a flight in Mid Air…The quick move was to prevent a collapse as Depositors had already began a run on WaMu and withdrawn over US $ 16 billion in the last ten days

As we move towards Panic,Capitulation and Despondency in Equities with the Scenario in USA turning scarier than ever a lot of friends,family, clients,associates and even my Pay and Park Attendant are asking me “Ab Kya Hoga ?…Ab Kya Kare ?”

This is what I strongly advise…..

We are surely moving towards Distress Prices on the Bombay Stock Exchange and the National Stock Exchange…With the continuing disturbing scenario unfolding scarily in USA,there is clearly more Pain ahead in India as Dalal Street gets Wall”ed in

Critical Valuation Basis remains on Assessing the  Sustainable Growth in Earnings…Here is the Problem….Clearly we are seeing a rapid deceleration in the Earnings Growth

The Sensex’ earnings grew by nearly 17% in the first Quarter ending June 30,2008 in the current FY 09 supported by a 33% yoy growth in Earnings in Capital Goods Companies and a near 30% growth in earnings in Telecom Companies and a strong 44% growth in Earnings in ONGC. However, the Sensex (excluding the oil companies) saw an earnings growth of only 12.5% yoy during the quarter…..the lowest in the last fifteen quarters…compare this with the peak 40% growth in the December 31,2006 third quarter of FY 07  

EBIDTA Margins contracted by 1.8 % and are expected to contract yet further.Metals and Pharma were the saving graces and saw some margin expansion

The Earnings Momentum  going forward will continue to be impacted by hardening Interest rates and double digit Inflation and an economy slowdown,notwithstanding the Minister of Finance yet assuring of 8% GDP Growth this year assuming strong domestic consumption and Investments

From a closing Peak of Sensex of 20873 in January 2008,the correction has been a mighty near 40%…With Wall Street resembling Ghost Town,the Sensex Slide should continue to distress Levels of a P/E Multiple of 9 and 10 ( Last seen in 2001)…With the remaining quarters in FY 2009 expected to reflect continuing slowdown in the  earnings growth  I expect the FY 2009 Sensex EPS to be around 950 levels…This gives a macro Sensex Valuation of 9500 thereabouts on a derating P/E Multiple of 10…that’s another 25% to 30% drop from current Sensex levels of 13000 to 13500…yesterday it declined sharply by 445 points to close at 13102

The Danger remains that if Panic turns to Despondency then Sensex may seek even lower levels than what a Macro Valuation projects  

FII’s have been forced to sell off  their holdings big time….it’s got more to do with Salvaging Liquidity for their Bankrupt or on the Verge of Bankrupty Parent entities back in USA than  Indian Valuations…As of date over US $ 9 billion have been pulled out of India this year by the FIIs…They had put in US $ 20 billion last year.It was FII Inflowsof over US $ 40 billion from 2005 to 2007 that had driven our markets to record highs and far ahead of fundamentals with P/E multiples recording unprecedented highs of 25 with justification that India is a rerating Story of High sustained Growth and is deserving of such high multiples

What was assumed was that Sensex Earnings Growth would continue in the 30% + zone…at worst decline into the 20%-25% range….It’s down to below 15% and falling !

Reminds me of the Information Technology Euphoria of 1998…the late President of NASCOM had boasted that the IT Sector would see 100% Earnings Growth yoy for the next Ten Years !Infosys shot upto past Rs 15000 !…Once commonsense and rationalisation dawned that this assumption was far fetched it was too late as the Markets collapsed dramatically from Feb 2000 with Infosys retracting to below Rs 2000 ! Ironically it was an excellent Buy at this price in late 2001…but even if there was Investible Surplus very few had the conviction…Realising that late 2001 was a historic time to Invest in Equity,I had conceived in August 2001,even before the 9/11 World Trade Centre Attacks, a Workshop on “Restructuring, Repairing and Revitalising Your Portfolio” at the World Trade Centre here in Mumbai.It was held in October 2001…Clients who were not convinced I threatened to throw off the books…so convinced was I of the great Wealth that would unfold in the subsequent Years…I stood vindicated

I see a similar opportunity like that in 2001 emerging yet again in 2008 

So in such a depressing scenario should one Look for Opportunities to Buy…..or Sell out…or Just Hold ?   

This is what I strongly Feel…..Think Two to Three Years….In 2010 you’ll be looking back and saying why Did I not buy into Distress prices in 2008 !

I acknowledge, realise,confess and recognise that these are simply unprecedented times that brings alive the USA Depression of 1929 that lasted for years ( Check out the Pages Section of this Blog for some great Quotes on the Depression of 1929)

However I came across very two convincing chart presentations as below that should convince you to atleast Stay Invested in Equity even if you are not inclined to Buy Further

This Remarkable Chart from Data from Fidelity Investments  shows that you just have to remain Invested in Equity for the Long Term,riding out even Turmoils like that of the present…if you sell and are not invested on the best ten days your portfolio value gets halved !

It’s really a fallacy to believe one can time the Markets.Here’s what John Bogle, legendary founder of Vanguard, the most respected mutual fund company in the world had to say about market timing…

“After nearly 50 years in this business, I do not know of anybody who has done it successfully and consistently. I don’t even know anybody who knows anybody who has done it successfully and consistently.”

From Personal Experience I can say that staying Invested in  Sound and Sustained Growth Scrips is really the only way to create Wealth….In the late 1980s there were many who sold of Larsen and Toubro as the Ambanis of the Reliance group tried to take it over….even the co founder Mr Holck Larsen sold off his shares !…The company was and is a gem…those who sold off never re-invested back into the Company and if they did it was at much higher Prices…In the 1990s  I repeatedly advised Investment in Infosys when it was quoted in the Hundreds…Many sold off after getting 100% returns…and lost out on 10000% returns over the longer term !

So the Bottom line is Stay Invested in Equity for the Long Term

Now Look at this Sentiment Chart…it should inspire you to consider Buying

Currently Bearish entiment is expressed by 55% of the people surveyed…..Going by the history of the last Twenty years this would indicate a strong rebound in the coming year

The Opportunity that is arriving is clearly Historic to create Wealth over the next few years

So I take a contrarion View…Instead of the Herd of Experts and Analysts that you get brainwashed into listening to day after day, again and again, on various Stock Channels who are recommending Selling at every Rise…I say await the Buying Opportunities at Distress Prices at every Decline…The quicker you are inclined to sell,the slower will you be inclined to Reinvest…and that is a tragedy that you need avert…so dont sell…instead get convinced to top up your portfolio with fresh funds in the coming weeks and months as the Sensex seeks lower levels towards 10000  

Clients can look forward to a list of atleast 25 Stock Selections with Distress Price levels that should be the benchmark to Invest

Anyone who wishes to play the Devil’s Advocate with me…please feel free to respond

Cheers ! 

…..Got up this morning conscious that it’s Fathers Day today

……Feel as if I’m sitting by the shore on Mumbai’s seafront and it’s raining and every wave that’s lapping me is one more fresh memory of my Dad and the times we had together…..Feel warm and whole and blessed

….began to actually pen these memories….they’ve run into five pages already !…many hilarious moments….many great character building events…many Life’s Lessons absorbing incidents…our annual Family Holidays together…..feeding the Fish in Coonoor….watching the sunrise over K2 from Tiger Tops …..How we got to stay in the famous ‘Simla House’…..On Elephants moving among grass as tall as the Elephants itself! to glimpse a group of three one horned rhinocerous at the Jaldapara Wildlife Sanctuary….Beer on the beach in exclusive Bar Nicobar…..how we got away ,when we were travelling to Kashmir with family friends and Uncle pulled the Train Alarm thinking it was the Flush ! …..simply too many to blog in one day…..maybe I’ll set up a seperate category for ‘Dad’ and reveal these great memories one at a time   

….but this I must say “Dad,they don’t make anybody like you anymore ”

…..His name was Aroon….Patriotically,and for lower salary and perks too, left Standard Vaccum early in the 1960s (rechristened to  Esso and now HPCL after nationalisation) to join the Government’s fledgling IndianOil….Lived for IndianOil, rose through it’s ranks,and retired in top management in the late 1980s….was rewarded with a HMT watch for 25 years of Glorious service and got Rs Three lakhs as Gratuity and Pension on retirment…..could never see Life beyond IndianOil and did not take up lucrative assignments from many overseas Oil Majors and Drilling Companies…..God fearing and High on Selflessness,Integrity,Loyalty,Reliability,Dependability,Self Dignity,Self Esteem and Self Respect but Low on Health…He had his first attack when 38,his second,ten years later at 48,his third,yet again ten years later at 58 and as if in rhythm of years passed away ten years later at 68,soon after his fourth in 1998

…… Missing You and your Silent yet Strong Physical Presence….yet sense your Guiding Presence and the blessings it brings and the protection it assures

……”Dad,you’re the pivot,support and centre ’A’ and Aspiration in my Middle Name and  the strength around which your Son GAP is yet evolving 

……Proud and Blessed to be your Son…for me everyday is Fathers Day

……Know what’s for dinner tonight, dad ?….planning your specials…..Dahivada and Cold Coffee…so something to look forward to tonight,dad,as we dine together later tonight

Cheers !

Switched on my mobile this morning after a few days of tackling a tough Viral…thank you guys for all your “get well” wishes…they worked

Listened to the live broadcast on stock channels of Mukesh Ambani at the 36th AGM of RIL this morning in Mumbai rolled out the roadmap ahead for his Group…this are a few interesting bytes that really caught my ear

• Now with the rescinding of the Non Compete Agreement with brother,Anil Ambani’s (ADA) Group, Mukesh Ambani’s RIL Group will enter the Power Industry in a very big way…a blueprint is being prepared….what is amusing however is that despite discovering and drilling Gas from the KG Basin,RIL will not execute any gas based project till 2022…so it’s going to be coal based,hydel,nuclear and alternative energies projects….ironically it is supplying this Gas to Other Fertiliser and Power Plants as directed by the Government…even to ADA Group Power Plants when they are ready to accept and if the Government directs then
• Organised Retail has earned Revenues of Rs 4500 crs in 2009/10….in just Five Years it will jump ten fold to Rs 45000 crs !…..keeping in mind that RIL is the first Indian Company to cross Rs 200000 crs turnover this year,this would be a great contributor 

Anything BIG to earn and HIGH growth rates forecast,then rely on RIL to enter that sector….Petrochemicals,Petroleum,Retail,Infrastructure….nowTelecom,Pharma,Healthcare,Power,Education.

What next ?

How about Information Technology …RIL can take a look at the three World Tech Giants,Google,Apple and Microsoft……have a look at this Comparative Table I’ve prepared…RIL against Peers and these three Tech Giants…I’ve used todays ref rate US $ =Rs 46.14 for translating RIL’s Share Price of Rs 1055 and Market Cap of Rs 345135 crs…However RIL Financials are as sourced from RIL’s website (imputed rate used by them is US $ =Rs 44.64)…for the other Global Giants,the figures are sourced from the NYSE/Nasdaq 

KEY COMPARATIVE STATISTICS : RIL v/s Global Peers and Global Tech Giants

Clearly the Tech Giants rule the Exchanges in terms of Valuation and even Market Caps…High Multiples,High Profits and Profit Margins,Low or No Debt,Rising Revenues with new product launches have worked wonders for the three Tech Giants

RIL always thinks BIG…..Organic Growth in Technology Sector will take ages…But with a Market Cap of relatively lower US $ 75 b and the fact that 1/3rd of Capital Employed is through Debt even Inorganic Growth looks difficult for RIL to take over a major World Giant among it’s peers and even the Tech sector if it wants to enter it….what does look interesting is the Infotel playout it has just started with a near US $ 4 b layout…I’ve got their presentation on this and shall be examining it closely sometime soon

So are RIL’s Best Years Ahead as Mukesh Ambani assured shareholders today ?….With strong proven large scale project implementation capabilities RIL surely is excited about the opportunities opening up in India and even overseas…RIL is already a Giant in India in it’s Operations…With It’s Expansion Plans in Petrochemicals,it’s new big scale forays in diversified fields,it hopes to be reckoned as a Global Giant

It’s Best Years may certainly be ahead,but the above table shows it’s got a hell of a lot of catching up to do with Global Giants

Oh ! it’s near BP’s mkt cap only because BP share Price has crashed following the Gulf of Mexico Oil Rig Explosion that is throwing out ,latest upward estimates of 40000 to 60000 barrels of oil into the Sea and is yet to be capped…. seen to be the biggest economic disaster USA is facing….Interestingly President Obama has managed to extract a promise of an initial US $ 20 billion in an escrow account from BP for settling claims and damages for this continuing disaster….if you look at the table,that’s just one year’s sacrifice of PAT for BP….I’m sure there will be more extracted

So should RIL be in your Portfolio ?……and with what weightage?…Simple answer is “Yes”…and the weightage should be atleast 10% of the Equities you hold…..Like Larsen & Toubro and State Bank of India,RIL remains a strong proxy for the India Story…Who Knows ! remember the late 1980s and the BOB Fiscal fiasco when RIL had made a serious and aggressive and hostile bid for Larsen & Toubro only to be thwarted…with Larsen’s market cap under US $ 24 b today,RIL may just relaunch this ambition !…it has never liked losing !….OH ! I just love it when my mind meanders !

Cheers !   

Been under the weather past few days…perhaps the change in weather…should recover  this week…enjoying wife’s care…not enjoying the doc’s six tabs at a time,twice a day to clear fever and a heavy aching head

Cheers !

‘Raajneeti’

Many liked the movie…but not me !…Lousy….characters simply not build up properly….senseless violence…family hangups in local politics…ungripping storyline…predictable ploys….not a single powerful performance…hackneyed election speeches…bloody waste of money…Naseeruddin Shah was wasted…probably was smart and walked out of the movie in the early scenes itself !……actually a whole Star cast wasted !…..Oh! and the women always get pregnant in one shot !

Cheers !

We are a Football Crazy Family… Son played in the Team that won the Inter School Gold for the first time in it’s 145 year history a few years ago…. My daughter is the State Goalkeeper  and has been shortlisted as a Core Probable for the Second Camp for the selection of the India Girls u-16 National Football Team…. my wife is a great and loyal cheerleader and i have captained my school team, played in the Goal and also played for my college team… till a year ago, I had assumed the role of a voiceferous defacto Coach at my daughters inter school matches, running up and down the lines, screaming at the girls to pass, shoot, centre, clear….. Both kids love Liverpool and Gerrard and Torres… I love Brazil and Kaka…. we are all looking forward to a mesmerising Messi and a Racing Rooney regaling us with Goals at the FIFA World Cup that begins this Friday

Hey ! and check out this superb FIFA World Cup Match Schedule link… a lovely way to display the Schedule in June and July 

http://www.marca.com/deporte/futbol/mundial/sudafrica-2010/calendario-english.html

Host Nation, South Africa kicks off the World Cup by playing Mexico in the Opening Match this Friday, June 11, 2010 in Johannesburg

The Finals will be played on Sunday, July 11, 2010… again in Johannesburg… it will be the 64th and Final Match in this World Cup

Suspended IPL Chairman, Lalit Modi had boasted that the IPL will be a bigger Brand and Event than even the FIFA World Cup !… Modi, Go Fly ‘Kites’ with Hritik Roshan and Barbara Mori !… Cricket is played by less than 30 Nations…. Football by over 200 !… IPL never excited me !… FIFA World Cup excitement has never left me !

I’m really excited about FIFA World Cup… so what if India has never qualified yet… I yet remember the magic of  Maradona, Socrates, Rummeneiger and Paulo Rossi in the 1970s and 1980s and the harmless betting we did between us in the Middle East Nation Office of a Big Four Auditing Firm during the 1986 World Cup in Mexico

Have Strong Memories of the controversial ‘Hand of God’ Goal scored by Diego Maradona for Argentina against England in the quarterfinals of the 1986 World Cup… Maradona unfairly used his hand to score the Goal… the referee did not see this and allowed the Goal…. Argentina won the match 2-1 and went on to beat Germany in the Finals to lift the Trophy…. but it was Maradona’s second goal in this match v/s England that was voted in 2002 as the Goal of the Century… he magically dribbled past six England Players to score….. he’s going to be there too this World Cup, as the coach of the Argentina Team

Some of my Friends have already left for South Africa to be there !… I was even invited by the Johannesburg Head of an Exchange for the World Cup when we were both at the SAFE Conference in Mauritius in April… he said he would arrange the tickets… Idiot that I am, I had just said “Let’s See”…. What’s there to See !… It’s the World Cup !

So let’s kick some ball from this Friday !…. and let’s see Brazil lift the Trophy on Sunday, July 11, 2010 !

Ah!… and yes, please excuse me for being late to office in the morning… hangover from previous night’s matches

Cheers !