U n ME makes WE...

The country's second largest software exporter, Infosys, on Wednesday ruled out the possibility of buying Satyam saying the IT major "will not touch any tainted company".

"We have no such interest in looking at buying Satyam... absolutely not... We will not touch any such tainted company that's very very clear," Infosys Founder and Chief Mentor Narayana Murthy said in an interview to a private television channel.

He said that the Satyam incident will not have an backlash on the Indian IT sector.

"Every company, certainly large companies, they have very close relationship with customers. The CEOs and senior management of the Indian industry have a close relationship with the senior management of the customer companies...

"We have a lot of transactions where we have demonstrated class, quality and integrity, so I don't think all of that will be destroyed just because of one bad apple, because there is one Satyam," the non-executive chairman of the company added.

Talking about the course of action following the Satyam fiasco, Murthy said the need of this hour for the regulators is to act decisively.

"The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action to bring the guilty to whatever punishment they deserve," he said.

Murthy said that the IT industry has to communicate to their investors and customers and all potential investors that Satyam is indeed an isolated case of misgovernance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort.

Enthused by the assurance by the Finance Minister that the central bank would inject liquidity into the system as and when required and the concerted efforts of global central banks to tide over the current financial turmoil, the market has moved up sharply today.

Stock commentary ^Live

The Sensex, which opened with a positive gap of 290 points at 10,817.68 this morning, is up with a massive gain of 707.74 points at 11,235.59 now. The Nifty is up 6.2% or 207.45 points at 3487.40.

Stock tips for investors

Bank stocks are leading the charge with the much battered ICICI Bank spearheading the rally. So sharp are the gains posted by stocks in that space that the BSE Bankex has shot up by nearly 11% today.

Stockometer

At 443, ICICI Bank is up by 22% now. State Bank of India and HDFC Bank have gained 6.15% and 9.25% respectively. IDBI Bank has vaulted 14.1% to Rs 74.10. Axis Bank is up with a handsome gain of 13.2% at Rs 625. Short-covering and better than expected quarterly numbers have contributed to the rise of Axis Bank today. Yes Bank is up with a big gain of 16.5% at Rs 83.

Top gainers

Allahabad Bank, Bank of Baroda, Bank of India, Canara Bank, Indian Overseas Bank, IndusInd Bank, Kotak Bank, Oriental Bank of Commerce, Punjab National Bank and Union Bank of India are also up with strong gains.

Worst losers

Dena Bank, J&K Bank, Syndicate Bank, Indian Bank, Central Bank of India, Bank of Maharashtra and UCO Bank which are not part of the Bankex, have also recorded impressive gains today.

IT stocks have moved up sharply. Sector heavyweights Infosys Technologies (5.5%), Tata Consultancy Services (12.65%), Satyam Computer Services (8.95%) and Wipro (6.15%) have recorded big gains.

Moser Baer has zoomed 15.35% to Rs 111. Aptech is up by around 13.3%. Rolta India has gained 12.65%. Financial Technologies, Tech Mahindra, Patni Computer Services, Mphasis, Oracle Financial Services and NIIT have also moved up sharply today.

Index heavyweight Reliance Industries (4.1%) have moved up on strong volumes. Bharti Airtel (8.6%) and ONGC (3.15%) have also moved up and contributed significantly to the market's sharp rise today.

Can u ppl imagine that there is no power for at least 1 hr daily in Tamilnadu. What kinda situation is this??

Our state is facing a grim situation of 1,000 MW power shortage, all cities and towns in the state are set to have daily power-cuts from July 21.

As part of the measures to tide over the situation, the State Government has decided to resume power holidays for industries and impose power cuts for domestic consumers from Monday. In villages, a four-hour power cut would be enforced two days a week.

Announcing this after a meeting with representatives of all industries, Electricity Minister Arcot N Veerasamy said the government was forced to take this decision as the poor southwest monsoon and wind power generation had led to the huge shortage of power. The minister said the power cut became inevitable after earlier measures failed to yield the desired results.

While power supply would be cut for 1 hr on all days in Chennai, other cities and towns would face power-cuts for 2 hrs everyday, Mr.Veerasamy said.

To facilitate easy implementation of power-cuts, Chennai would be divided into eight divisions. The schedule for power-cut for each division would be announced soon, he said.

There will not be any power-cut between 6 pm and 10 pm so that students are not affected, Veerasamy said adding that drinking water supply, dairy farms and hospitals would be exempted from the cuts.

As far as the farm sector is concerned, power will be provided for six hours during day five days a week and eight hours during night. On the other two days, power would be supplied for four hours during day and eight hours during night.

The Tamilnadu government has announced 30 per cent power cut for industries and commercial establishments which used high tension power supply exceeding 150 KVA. However, this would not apply to those coming under the `essential services' category.

Power supply to agricultural pumpsets, which were presently provided for four hours in the day and six hours during night, would be extended by two hours at night.

On the other hand the public is really disturbed about this situation and worried about the actions and measures taken by the ruling party which is not efficient. This situation may take in other states too very shortly. There is going to be a great loss in the production sectors. Well lets hope for the best.

Guess watz go'n on in other countries for rising prices of fuel??

Brothel in America, wat situation is this??? Whrz the world heading??? Jus read on...

According to the American Automobile Association, the average cost of a gallon of unleaded in the US is now $4.098 (£2), the highest ever. Californians endure the highest petrol prices in the country with a gallon of unleaded reaching $4.79 in Orange County.

The Nevada Brothel Owners' Association says "Revenue for houses of ill-repute has dropped by 20 to 45 per cent since the energy crunch began — the worst economic crisis in prostitution in almost half a century".

The oldest profession(Brothel) is one of the few sectors that is generally immune to global economic problems. But high oil prices are another thing — especially when many of your regular clients are truckers.

Local governments, school districts and police authorities — groups that are forced to stick to fixed annual budgets — are considering ways of reducing their fuel bills as prices show no sign of slowing.

No use of it!

At other brothels in the Nevada desert - where it has been legal to sell sex at licensed establishments since the silver mining boom of the 1800s - petrol discount schemes, similar to those offered by Chrysler to customers when they buy a 4x4 Jeep, are being introduced. Some have abandoned the financial negotiations that take place between customers and girls and are offering flat-rate, no-haggle services, advertised online. At the Shady Lady Ranch, for example, a 40-minute session is being promoted for the discount price of $175 (£90). Next month, customers will receive a $50 petrol voucher if they spend at least $300, or a $100 voucher if they spend $500.

Truckers are the ideal customers for brothels. Bored, a long way from home and with nothing much to spend their money on while on the road, they are often tempted by the prospect of the intimate company of women.

On the website for the Wild Horse Adult Resort and Spa, the truck-friendly five-acre car park, with 24-hour security, is given almost as much advertising space as the services.

Fuel bills for truckers have risen by two thirds in the past year — diesel has gone from an average of $2.80 per gallon to $4.69 per gallon. It is no help that many brothels are several hours' drive outside metropolitan areas because of licensing restrictions.

Politicians have tried to help. Last July a ban on advertising was lifted, allowing brothels to put up billboards in cities such as Las Vegas, where prostitution is illegal. President Bush's tax refund cheques have also helped. At the Moonlite Bunny Ranch, which featured in a recent HBO reality TV series, the first 100 customers who showed up with their tax refunds were offered special deals.

“You bring your $600 cheque in, and we give you the $1,200 George Bush party: three girls and a bottle of champagne,” Dennis Hof, the owner, promised.

Because of the promotion, business at the establishment is reportedly up 20 per cent this year.

Gr8 help by the American Govt. to the brothels.

Handcuffs and condoms are replacing textbooks for a growing number of students who enter prostitution to pay for university. The percentage of these kinda things increased because of Fuel price rise too...


Wat will be the remedy for this??? Letz hope for the best...