So much about India shining!! See the way Rupee is getting battered!! See IIP rates!!! See inflation rates!! See infra! Petrol is all time high!

India is not shining but whining and going to the doldrums. Most of the cos. in India a either fully bogus or totally manipulated in favor of promoter group. Banks and lending instititutions knowingly are colluding with the scamsters hand in glove with perpertrators of these financial crimes to make quick money. Poor rich divide has widened dramatically which is very dangerous for a democratic country.

No. of districts in various states on the worst drought crisis. In Maharashtra they spent around 70000 Crores on harvesting in last 10 yrs, where that all money gone or disappeared? Poor farmers and peasants running away to nearby cities due to drought. No help from Govt. These innocent poor farmers/laborers will ultimately commit suicide or resort to daredevil robberies to sustain themselves and their families. Crime will increase exponentially. Black money hoarding has reached gargantuan proportions. Rich and wealthy getting richer by the day by resorting to all sorts of gimmicks. FIIs have sucked money out of the system!!

This country will go into an anarchy situation as these negatives mount. I foresee large scale civil agitation in this country in another couple of decades rather than any shining India. Freinds do not invest in the markets now. You will lose all your money!

Bharti Airtel Current Market Price: Rs 281.95 The telecom major took a beating due to regulatory authority TRAI’s recommendations on 2G reserve pricing, which set the price at more than two times the 2008 auction price.

Jain Irrigation Current Market Price: Rs 70.60 Brokerage house Religare today cut earnings estimates for the company citing slowing growth in its core vertical segment, i.e. micro irrigation systems (MIS), and possible pressure on funding costs and margins due to high working capital requirements.

Punjab National Bank Current Market Price: Rs 708.45 Punjab National Bank (PNB) reported more than 18% year-on-year jump in its fourth quarter net profit. However, during the quarter, the gross non-performing asset (NPA) ratio climbed to 2.93%. The net NPA ratio too rose from 1.11% to 1.52%.

EIH Current Market Price: Rs 76.50 This hospitality company was hit hard by the global gloom-and-doom environment, which also hurt the tourism industry, along with the rupee’s sharp decline to 56 a dollar.

Educomp Solution Current Market Price: Rs 146.50 A report by brokerage firm Espirito Santo on Friday questioned the company's corporate governance standards, accounting practices and business model, and assigned it a fair value of Rs 110 to the stock.

Bharat Electronics Current Market Price: Rs 1236.85 Bharat Electronics has reported a sales turnover of Rs 2,297.24 crore and a net profit of Rs 333.84 crore for the quarter ended Mar '12.

SKS Microfinance Current Market Price: Rs 71.50 A hostile business environment in its biggest market, Andhra Pradesh, crippled India’s only listed microfinance institution. The company has been plagued ever since former CEO Suresh Gurumani was unceremoniously dismissed.

Reliance Media Current Market Price: Rs 54.90 Reliance MediaWorks sales turnover for Q4 FY12 dropped to Rs 95.93 crore, and net loss came in at Rs 114.23 crore for the quarter ended Mar '12.

Kalpataru Power Current Market Price: Rs 78.50 Kalpataru Power reported a 22% increase in revenue for FY12, however profit after tax fell to Rs 204 crore.

Ramky Infra Current Market Price: Rs 147.10

Adani Ports Current Market Price: Rs 109.75

The Indian market closed a choppy session of trade on a weak note following negative global cues and a depreciating rupee. Banks, metals and power stocks came in for a bit of selling. Sensex closed at 15928, down 97 points (provisional) and Nifty at 4831, down 28 points (provisional) from the previous close. CNX Midcap index was down 0.5% and BSE Smallcap index was also down 0.5%. The market breadth was negative with advances at 514 against declines of 892 on the NSE. he Indian market pared losses in afternoon trade but ended lower in a session marked by volatility amidst the rupee touching a record low and global concerns over EU summit. Sensex shut shop at 15948, down 78 points, and Nifty at 4835, down 24 points from the previous close. CNX Midcap index was down 0.5% and BSE Smallcap index was down 0.6%. The market breadth was negative with advances at 481 against declines of 926 on the NSE. Top Nifty gainers were GAIL, Ranbaxy and IDFC while losers included Bharti Airtel, Kotak Mahindra Bank and Sesa Goa.

MIC Electronics is another bogus co. floated with much hype and hoopla with the help of media and analysts! I remember the CEO used to frequently visit TV channels with bullish projections and statements to spruce up the share price. Now what is remaining is the real truth of what the co. is worth!! Investors please take extra care when investing in new cos. and in any Indian co.!!!! Promoter's stake has reduced by half since Mar 11. It was Quoting 12.36 in first week of May and today price almost halved !!!! LED products maker MIC Electronics Ltd reported a 77 per cent decline in consolidated net profit to Rs 3.9 crore for the three months ended March 31, 2011, compared with Rs 17.02 crore in the same quarter last year. Sales revenues also slipped 21 per cent to Rs 70.41 crore from Rs 55.43 crore.

Around 188 mid-sized companies like 3i Infotech, Vimta Labs default on loans. Slower growth and high interest rates have taken a toll on many mid-sized companies. Close to 188 companies rated by Crisil have either failed to service interest on borrowings or repay the principal amount on time. More than a dozen of these are listed. Among the listed companies that failed to stick to their repayment schedule in 2011-12 are Mawana Sugars, Raj Agro Mills, ARSS Infrastructure, Indosolar Ltd, Simbhaoli Sugar, Shree Ashtavinayak Cinevision, Eastern Silk Industries, 3i Infotech, Vimta Labs, SR Industries, Mangalam Drugs, Surya Pharmaceuticals and CCS Infotech. Most of them have not been able to repay funds in the range of 50 crore to 300 crore, said sources in the financial market. Leading microfinance institutions Spandana Sphoorty and Asmitha Microfin also failed to meet their repayment commitments last year. These companies rated by Crisil, India`s largest credit rating agency, have a combined debt outstanding of 20,000 crore. They did not respond to ET`s email queries. "Over 90% of these borrowers have ratings in `BB` (double `B`) or below categories; most of them have borrowed money from banks," said Pawan Agrawal, director, Crisil Ratings. According to Crisil findings, default rate - the ratio between the number of companies that defaulted to the total number of companies under the agency`s surveillance - has gone up to 3.4% in 2011-12 to 2.9% in 2010-11. Low profitability, declining demand and weak liquidity conditions are triggering defaults, said Agrawal. "Access to funding and higher borrowing costs are turning out to be a challenge for companies. In terms of credit quality outlook, we expect downgrades to continue to outnumber upgrades for some more quarters," he said. Companies with large debt on their books are finding it difficult to honour their financial commitments, merchant bankers said. Those with substantial debt on their balance sheet are hurt by increased interest costs and marked-to-market losses reported on foreign currency debt and derivatives due to rupee depreciation. This has resulted in a significant drop in net margins of most companies since September 2011. "Mid-sized companies with poor ratings are finding it difficult to raise working capital; lenders are not investing in the issuances of small companies fearing defaults. Even higher rates are not bringing them in," said a leading Mumbai-based debt arranger to small- and mid-sized companies. According to equity analysts, sectors such as textiles, real estate, steel, automobile, construction & engineering and infrastructure will continue to face margin pressure in the upcoming quarters. Cash-strapped companies are trying to reschedule or roll over their debt. "Companies on the verge of default are trying to reschedule their payment calendars. Rollovers are happening at rates as high as 18-20%. Most companies are rolling over their debt for three months," the debt arranger said. With the RBI policy meeting round the corner, promoters are hoping for a reduction in rates and easing of liquidity towards mid-May. They also expect a stock market rally, which will help them raise funds by issuing stocks to private equity investors. "Higher default rate is a reflection of lower risk management capabilities of corporate India. Apart from regular factors like profitability and low rates, only good governance and strong risk management skills will prompt companies to meet their financial obligations," said Shailesh Haribhakti, chairman, BDO Consulting.

The brokerage houses, lead managers, and the regulators are all hand in glove to push highly overpriced issues (in most the recent IPOs of 2010/11 the real market value of the shares was not more than 10-25% of the IPO price!!!

There is another IPO opening soon, that of Speciality Restaurants. I think this one should do good like Jubilant Foods and Lovable Lingerie and Talwalkar. Have not studied it but having eatery chains like Main-Land China it should do well, rest God knows!! WHATEVER THE IPO RATING, I WOULD NOT SUGGEST ANY RETAIL INVESTOR TO PUT HIS HARD EARNED MONEY IN THE DAMNED MARKETS!!!!!