Sonia 7th most powerful woman; Merkel tops: Forbes

Congress party president Sonia Gandhi figures as the seventh most powerful woman of the world in the Forbes list which is topped by German Chancellor Angela Merkel and US Secretary of State Hillary Clinton.

64-year-old Sonia Gandhi, who is recouping from unspecified surgery in a US hospital, is ranked seventh just ahead of US First Lady Michell Obama in a list of 100 most powerful women of the world released by the Forbes magazine.

Indian-American Indra Nooyi, the head of soft drink giant PepsiCo, has been ranked fourth, followed by Sheryl Sandberg, COO of Facebook and Melinda Gates co-chair and co-founder of the Bill & Melinda Gates Foundation. Two Indian corporate executives Chandra Kochhar of the ICICI (43rd) and Kiran Mazumdar-Shaw of Biocon (99th) have figured in this list in which the third place is occupied by Dilma Rousseff, who became Brazil’s first woman President.

“Lauded for overseeing heavy economic growth, she is also criticized for tolerating political corruption and failing to forge connections with India’s fastest-growing demographic–younger voters,” said Forbes about Sonia Gandhi.

“Gandhi is an avid scholar of the arts, and holds a degree in oil painting conservation. She recently underwent surgery in the US,” it added. “The managing director and CEO of India’s second-largest bank, Chanda Kochhar rules over assets of USD 118 billion and profits of USD 1.35 million,” Forbes said.

“India’s first biotech entrepreneur, Kiran Mazumdar-Shaw founded Biocon in 1978 at just 25. Since then Biocon has become only the second Indian firm to list a USD 1 billion IPO on its first day of trading,” it added.

German Chancellor Merkel is head of the one real global economy in Europe and is the “undisputed” leader of the EU. “Although overseeing a booming economy and falling unemployment, she contends with a weakening support base and crisis in the eurozone, where Germany is often in the unenviable position of bailing out its weaker neighbors,” Forbes said.

Clinton moved up to No 2 from last year’s No. 5.  In her second year on the job, Clinton continues to earn high marks for advancing US interests and policies overseas and pushing women’s issues, development and education to the top of the foreign policy agenda, Forbes said.

More popular than her husband, Michelle Obama’s approval ratings hover near 70 per cent while President Barack Obama’s are less than 40 per cent. “The first lady keeps a high profile with her mission to end childhood obesity and her stylish fashion picks,” it said.

25th Aug Nifty Fut levels

NIFTY FUT 4884

Today Nifty Fut support at 4865 level once if break and Volume down side support at 4840 4815 level.

Thereafter strong support at 4800 if trade below the level again will see BLOOD BATH………

If not break 4865 if trade above 4930 next resistance at 4985 5020 level non ruled out………

More update paid clients only

( Updated : 08.13AM / 25th Aug )

CBI to file third chargesheet in 2G scam by Sept 15

CBI has completed its probe in the 2G spectrum allocation scam and will file its third chargesheet by September 15, the agency told the Supreme Court today.

Senior Advocate KK Venugopal, appearing for CBI, sought 15 days more to file the charge sheet which was earlier slated to be filed by August 31.

He submitted before a bench of justices GS Singhvi and AK Ganguly that CBI, Enforcement Directorate and Income Tax department would file status report of their investigation by the next date of hearing on September 1.

The court was hearing petitions filed by an NGO, Centre for Public Interest Litigation and Janata Party President Subramanian Swamy on whose plea it had directed the CBI probe into the 2G scam and has also been monitoring it.

In its last status report, the ED submitted that the probe was done against several firms including Swan Telecom which is alleged to be a front company of ADAG’s Reliance Telecom.

It had said the money trail has led the ED to the United Kingdom, Singapore, Russia, Cyprus, Mauritius and the Isle of Man.

Senior counsel Venugopal had said six complaints under Foreign Exchange Management Act (FEMA) and Prevention of Money Laundering Act (PMLA) were registered against some companies and their officials, including the managing director of a telecom company who is presently in Tihar jail.

The apex court had earlier set up a special court to exclusively hold the trial in the scam.

Former Telecom Minister A Raja, DMK MP Kanimozhi along with several corporate honchos besides former telecom secretary are presently in jail and the special court is hearing the CBI’s plea on framing of charges against them
under various provisions of Indian Penal Code and Prevention of Corruption Act.

Pranab meets three Team Anna reps for talks

After days of waffling over how to handle Anna Hazare and the frenzy of national support for his fast against corruption, the Government is trying to find its footing.

So, entire bouquets of olive branches are being delivered.  Finance Minister Pranab Mukherjee who doubles up as the Government’s main trouble-shooter has been deputed to hold talks with three of Anna’s associates.  The Prime Minister has written to Anna, urging him to end his hunger strike, now on its eighth day.  And spiritual guru Sri Sri Ravishankar is mediating between the government, Team Anna and the Opposition.

At North Block, Mr Mukherjee is meeting with Arvind Kejiwal, Prashant Bhushan and Kiran Bedi, all front-liners of the India Against Corruption campaign.  The talks are likely to centre around the offer made by the PM to Anna about the activists’ version of the anti-corruption Lokpal Bill.  Dr Manmohan Singh has offered to present the bill to the Parliamentary Standing Committee in charge of studying the Lokpal Bill.  So far, that committee had focused on the government’s draft, described as weak and ineffective by Team Anna.

Mr Bhushan told NDTV that the Standing Committee’s perusal of the activists’ bill may not amount to more than “a delaying tactic.”  He also stressed that the committee’s recommendations are not binding.    Anna and his associates want their bill to be debated directly by parliament.
As public support for Anna peaked over the weekend with thousands of people marching to his sit-in at Ramlila Maidan, the government offered that some features of Anna’s bill could be tagged onto the government’s draft for consideration by the Standing Committee.   The PM’s offer today goes far beyond that, suggesting that if the Lok Sabha speaker permits, the entire document prepared by Team Anna could be reviewed.

( Updated : 08.30pm / 23rd Aug )

Hazare’s movement a bloodless revolution: Rajinikanth

Describing the anti-graft movement by Gandhian Anna Hazare as a “bloodless revolution”, Tamil superstar Rajinikanth today extended his “whole-hearted support” to it and said corruption is a dreaded disease that needs to be weeded out.

“I am very happy that we have a very able and dedicated leader in Anna Hazare to lead us in this fight against corruption. This kind of peaceful movement is possible only in India which is the birthplace of Satyagraha,”he said.

In a statement to India Against Corruption, which is spearheading the campaign for a strong Jan Lokpal Bill, Rajinikanth said he whole-heartedly supported the demand to get the Bill passed in Parliament.

“I congratulate all the Indians who have lent their support to this bloodless revolution. I am very proud to be an Indian,” the 61-year-old actor, who has a huge fan following, said.

There could be no doubt that corruption is a dreaded disease and needed to be weeded out from society, said Rajinikant, who is recuperating from kidney-related ailment after undergoing treatment in a Singapore hospital last month.

PM, Chidambaram decided against selling licences: Kanimozhi

Prime Minister Manmohan Singh and then Finance Minister P Chidambaram were fully in the loop on the 2G spectrum license allocation and had decided along with then Telecom Minister A Raja not to auction them, jailed DMK MP Kanimozhi told a Delhi court today.

“I am showing you (judge) the minutes of the meeting in which the Prime Minister, the then Finance Minister and the Telecom Minister decided that the licences for the 2G spectrum was not to be sold/auctioned,” senior advocate Sushil Kumar, appearing for Kanimozhi, told the Special CBI Judge O P Saini.

Seeking discharge from the case, the counsel for the 43-year-old DMK MP, said the CBI case is based on the premise that the accused caused huge loss to the state exchequer by not auctioning the licences for the 2G spectrum.

“The Prime Minister, the then Finance Minister and the present Telecom Minister are ‘good enough’ as witnesses to prove that there was no loss. They are on record in Parliament that the government did not incur any loss,” Kumar said.

“The moment, the loss factor goes out, the charge of cheating also goes out,” Kumar said, adding that the basic foundation of the CBI case cannot sustain the legal process.

The defence counsel also trashed the computation of loss by the CBI and the Comptroller and Auditor General (CAG) saying they are “just notional loss” and cannot be a basis for prosecution of the accused.

“The CAG report (of loss of Rs 1.76 lakh crore to the state) was laid before the House on November 16, 2010. It had not been adopted by the House. It is still in the limbo as the House is yet to adopt the report,” the counsel said.

The counsel for Kanimozhi also disputed the computation of loss of Rs.30,984 crore by the CBI saying it too has no basis as the charge sheet said that government could have earned more by auctioning the licences.

“The words — could have — cannot be the basis of prosecution as the relevant paragraph in the charge sheet is (a) full myth,” the defence counsel said.

“The sale of equities by Swan Telecom and Unitech Wireless (Tamil Nadu) (the two alleged beneficiaries of the scam) to foreign firms, Etisalat and Telenor, respectively were approved by the government. It was not the sale of the licences and hence there was no loss,” the defence counsel argued.

“Where is the sale (of the licences)? Where is the cheating?” asked the counsel for the DMK supremo M Karunanidhi’s daughter, arrested by the CBI on May 30 for her alleged role in the scam.

Her arguments, opposing charges of corruption and other penal offences like cheating and hatching criminal conspiracy in the 2G scam is still on.

Kanimozhi’s arguments seeking her discharge from the case virtually echoed those of former Teleceom Minister A Raja who too had sought to rope in the Prime Minister and Chidamabaram in the case, telling the court that the issue of dilution of equity by spectrum licencees was discussed with them.

Her counsel is the same as that for Raja — senior advocate Sushil Kumar.

Defending 47-year-old Raja against corruption charges in 2G scam, Kumar had told the court that there was nothing wrong in his decision of not auctioning 2G spectrum and that he was merely following the policies pursued by his predecessors and the NDA government.

“I (Raja) have implemented only what I (Raja) have inherited,” Raja’s counsel had said.

Kumar had said when Home Minister Chidambaram was the Finance Minister he had told the Prime Minister that dilution of shares by the accused licencees to attract FDI did not amount to sale of licence.

Arguing that the sale of equity was not the sale of licence, Raja’s counsel had said he cannot be accused of corruption in the controversial 2G spectrum allocation.

“The matter (about sale of equity by spectrum licencees) was discussed between the Prime Minister and the then Finance Minister.

“The then Finance Minister( who is now Home Minister) had said in front of the Prime Minister that dilution of shares does not amount to sale of 2G licence as per the corporate law,” Raja’s counsel had asserted, even adding “Let the Prime Minister deny this.”

He had further said, “When sale of equity does not amount to sale of licence, there in no question of earning profit. How can there be corruption in this regard?”

The CBI, in its second Charge sheet, had alleged that Kanimozhi, who holds 20% stake in the DMK-run Kalaignar TV, accepted Rs 200 crore from various firms promoted by Shahis Usman Balwa, another key accused in the scam.

23rd Aug Nifty Fut levels

 

Nifty Fut 5910

Yesterday we updated support 4800 made low 4816. Then sustain above 4950 resistance given 4903 4940. First time kissed 4902 then slide to 4870 again broken 4903 kissed 4922 level………….. U know yesterday my nifty client made 75 points profit in two times entered…………

Now What to do ???

 We are not changed the level every day today also same support 4800 If break & volume 4760 4730 level

Resistance 4930 level once if break and volume next resistance 4975 5020 level…………..

Trade with levels………

More live market update my clients only………….

Join us Nifty Pack just Rs 10000/three month…………

Every contract minimum 400 to 500 points earn……..

More details conduct us………

( Updated : 08.30am / 23rd Aug )

23rd Aug Hot Calls

ONGC

 ONGC now strong resistance @ 290 once if break non stop rally will come………..

Yes upper side target 295 298 thereafter 303

Catch it if u can !!!!

BPCL

BPCL is outperform in down market………… yes crude came down its more benifit in BPCL……..

Now 700 is a strong resistance area………… once if break catch it !!!!! Target 710 718…………….


 All are Enjoyed yesterday Blast script LOVABLE…………. stock ZooooooM 12% we given alert at 471 level Zoooomed 509 level………

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HEROHONDA & BATAINDIA  outperformer in down market…………

 Once if break the level non stop rally will come…………

Heavy shorts in this scripts………..

More update my paid clients only………..

( Updated : 08.15am / 23rd Aug )