Switch from Chanda to Shikha ! ? from ICICI Bank to Axis Bank !?

Now this is an intriguing switch to consider ! From Chanda to Shikha ?

Just this morning I was conversing with an ex commercial editor of a Newspaper….we were discussing how the Media today is corrupt and deliberately mislead investors with guided opinions by experts and planted stories….in fact he was bold enough to even accuse a leading National Daily of being a prostitute !…where every inch of the paper is up for sale !

When suddenly he popped an intriguing question….Should one switch from ICICI Bank to Axis Bank ?…An immediate reaction was that it becomes a choice between the two Managing Directors,Chanda Kochhar of ICICI Bank and Shika Sharma (ex-ICICI) of Axis Bank !

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Firstsource Solutions declares Q3 Results…Mounting FX Translation Loss evaporating Reserves

Very Cleverly,as is also not mandatory,Firstsource Solutions has avoided stating the Reserves position for the Nine Months ended December 31,2008 in both their Consolidated and the Standalone Results

Firstsource Solutions has a current Equity of Rs 428 crs and had Consolidated Reserves of Rs 313 crs and Standalone Reserves of Rs 201 crs as at March 31,2008.

In the Current Year for the Nine Months as at December 31,2008,the Company has accounted for Rs 158 crs as Fx Translation Loss through Reserves (early adoption of AS 30) and has shown a Consolidated Loss of Rs 10 crs  and a Standalone Loss of Rs 32 crs

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Firstsource Solutions from the ICICI Stable sinks below Face Value Rs 10….Why !?

Thx Anup for your response in the earlier Larsen Blog where you also requested for my view on Firstsource Solutions as it’s share price sunk to Rs 9.75,below face Value of Rs 10 for the first time ever 

I hope this blog gives you some clarity on this Company

It was clearly an Opportunistic IPO at a Heavy Premium in Bullish Times….Despite a Networth of just Rs 100 crs,excluding Goodwill,Firstsource Solutions managed to raise Rs 384 crs ,offering shares at a Price that was nearly 30 times the Earnings

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Educomp’s Share Price Slumps as Bears orchestrate a Mauling

Educomp appears to be a victim of Bear Market Manipulation…After Satyam,the Markets have been expecting some more companies to be exposed….So when the Daily Pioneer came out with an adverse story on Educomp and it’ Promoters,the Share price simply collapsed to a low of Rs 1375 yesterday from above Rs 2100 on January 19,2009…Check out this story on

http://www.dailypioneer.com/151227/After-Satyam-Educomp-under-scanner-for-fudging-accounts.html

The journalists have raised questions on a host of issues…one of them is that the Promoters have made a lot of money by trading in their own shares between 2006 and 2008

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ICICI Bank Jt MD ,Ms Chanda Kochhar comes on CNBC to reassure

ICICI Bank’s Jt MD and CFO,Ms Chanda Kochhar just appeared on CNBC in a call in converstaion with the Anchors…Clearly through all her calmness and reassurances there was an underlying and urgent  plea to Depositors and Shareholders and Investors not to Panic and fall prey to the rampant rumour mongering going on

With the Share Price of ICICI Bank already being mauled over the past few weeks and dangerously plunging by an unprecedented 26% today to record a low of Rs 326.70 on BSE and threatening to drop even lower it was absolutely imperative that Depositors and Investors in ICICI Bank needed to know what was happening !

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