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Popular stock analyst with success rate of at least 99.9%, SP Tulsian confirmed that the gang rape incidence in Delhi and latter the protests are overall positive for the government and therefore require to buy UPA and Congress at current levels.
"I feel the government is at bottomed out levels. With gang rape protest and overall steps that the government took through Police officers, I don't feel that the UPA stock will move further down. From here onwards it is buy, a multi bagger opportunity," said expert SP Tulsian in an interview with CNBC TV 18's Udayan Mukherjee.
He said "See Udayan. I like bottom fishing. I am contrarian investor and love to put my money in the stocks which have lesser downside. With the Company Secretary Sushil Kumar Shinde's statement that he can't meet maoists gives stability to the government officials. Further, I don't feel it would move beyond this level and already sold out stock would see a bit of good upside from the current levels."
While talking about risks attached in buying UPA at current levels, Tulsian said "Look Udayan everything has risk attached to it. But right now at a price of Rs 0.20 per share levels, I feel UPA stock will not go down to zero levels and it also ensures a comfort of getting multibagger opportunity."
"UPA which is currently facing angst all over India for its unusual and non conventional policies make the stock a riskier bet," said a technical analyst, Sudarshan Sukhani.
He said "I would not put my entire money on the UPA. It is better to keep some amount of cash. While I agree to Mr. Tulsian that UPA is showing bottom formation on the charts, I don't see any reason why this could not be a blip. As there are 2 more years remaining to complete the formation, I would like to put only 20% of my money in the UPA and rest preserve cash or even buy some bit of BJP. "
After announcing its plans for 2G auction by March 31, 2013, the government said that it would again-and-again take 2G auctions till the economic recession and telecom slowdown ends. Just when the booming period would be back the government would again issue telecom spectrum on first-cum-first-serve basis.
"By the time our telecom slowdown ends and more and more such flop shows of 2G auction, we will start alloting spectrum on first-cum-first-serve basis, a policy that guided by Hon. Ex-Telecom Minister A Raja," said Telecom Minister Kapil Sibal.
The development came after, earlier 2G auction lasted just two days, got total bids worth Rs 9,407.64 crore, just one-third of the minimum Rs 28,000 crore the government was expecting.
Sibal said "We are aware that CAG would again make some stupid calculations. But for the time being, these auctions would be good enough to slap how we fool on the face of CAG and Supreme Court."
Senior leader and UPA Minister, Manish Tewari said "I earlier asked the question where is Rs 176,000 crore to CAG. Nobody in the government has such a great amount of power to ask such question. Now I tell you CAG come and make these auctions successful. By the time we would complete our recessionary phase, we will back to first come policy."
India's Finance Minister P Chidambaram told India Satire correspondent "Anybody can put a dagger on UPA's shoulder but neither fiscal deficit nor inflation has guts to stop us from our policies."
India's largest bank, State Bank of India was another who filed a legal suit on Arvind Kejriwal for making an irresponsible statement.
"How can he make such statement? We are the largest bank in India and we have so many customers who just require following a small 2-3 hour cue to open an account. Tell me, how much time it will require to go to Switzerland and open an account? Just making such irresponsible statements would not be done," said SBI's Chairman Pratip Chaudhuri.
Arvind Kejriwal claimed in his press conference that opening an account in SBI is much more difficult than opening an account in a Swiss bank.
According to sources, information that Kejriwal was going to make the statement on SBI was leaked and therefore despite of good quarterly earnings, the stock price fell down sharply.
Owner of Reliance Industries and India's wealthiest businessman, Mukesh Ambani filed a suit against aspiring politician Arvind Kejriwal for undermining his black money in Swiss bank. Kejriwal earlier accused Ambani brothers for stashing away Rs 100 crore each on their personal accounts in the Swiss branch of HSBC.
"WTF! How is it possible that we will keep our one month salary in the Swiss bank? That looks so ridiculous and portrays us a poor Indian rather than richest Indian," said Mukesh Ambani.
He said "We could have been happier if he had said that we had some 1-2 lakh crore amount outside India. But that's Rs 100 crore look so fucking that we feel embarrassing to attend any party."
The embarrassment came to Burman brothers of Dabur who put some paltry 25 crore rupees in Swiss bank, according to Kejriwal. However, they denied that they would like to sue Kejriwal as they have some more work to do.
"We don't have time to run behind Kejriwal. It is always better to run for few more bucks so that Swiss bank will give us more incentives," said Anand Chand Burman of Dabur.
Anil Ambani, however, supported his brother and said that he is finding out legal options to sue Kejriwal.
"I want to ask him only one question. Despite agreeing that I am becoming poorer much fast than Vijay Mallya, why did Arvind Kejriwal undermined my black money? Rs 100 crore is so cheap, yucks," said Anil Ambani.
Reaction to all the developments, Vijay Mallya said "He he he. These Ambanis were showing their attitude everyday as they are wealthiest. But now I come to know they need some funding help from me. Ha ha ha. This is bigger joke that I am saving Kingfisher by selling my profitable business. He he he. Ho ho ho."
After falling from billion dollar rich tag, Vijay Mallya's statement over karmic connection of the life's richness and jealousy made UPA government emotional to make serious decision in bailing out his Kingfisher dreams in a different way.
"We are reducing the liquor drinking age to 12 from around 21 years (in Maharashtra it's 25 years)," said HRD Minister Kapil Sibal. He said "That is sufficient to bail out Mallya from current financial mess."
Mallya earlier said "Thanks to the Almighty that Forbes has removed me from the so called Billionaires list. Less jealousy, less frenzy and wrongful attacks." Vijay Mallya also told that he would switch to Kingfisher beer and McDowell's whisky brand.
However, the above sad statement from liquor baron couldn't go well with HRD Minister who immediately called a meeting of e-GOM (Empowered Group of Minister) where he clearly told that he had decided to lower the age of drinking to 12.
"Even my great grandson will also contribute in a small way to recover Vijay Mallya from financial trouble. I assure you guys that bucks will start from my home. My great grandson who is just 12 and half years old will finish least 5 bottles of beer and 2 pegs of McDowell's Mera No. 1 everyday," said Kapil Sibal.
Many other UPA ministers pledged that they will see their sons, daughters, grandsons and granddaughters will have any kind of alcoholic drink after crossing 12 years. However, few new ministers showed their displeasure on the reduction of age to 12 and wanted it to lower to 5 years.
While Mallya was accompanying Sibal in the meeting said "I am thankful to UPA Government and particularly Sibalji. If he had not have chosen this step, I might have switched to McDowell's Mera No. 1 from the Macallan. But thanks to Kapilji, I would not require to drink a whisky made for aam aadmi and will keep my status going."
According to Government estimates, if the drinking age is reduced to 12 years, the profits of United Spirits will be more than enough to cover Kingfisher's losses, paying its dues to lenders and employees.
NEWS IN BRIEF - WORLD, BUSINESS
Addressing his skills for insider trading, Judge Jed S. Rakoff sentenced former Goldman Sachs director Rajat Gupta, 63 two years in prison. Now Rajat Gupta will trade in equities from actual 'inside' experience.
"We appreciate inside trading skills of Rajat Gupta and expect he will do it for us, for the great US economy a boost the stock markets. Therefore, we decided to send him inside jail so that he will do more and more inside trading for us at least for next 2 years," said Judge Rakoff.
US government and jail authorities will provide Rajat Gupta a LCD computer with CPU and speakers to trade seamlessly in the stock markets. While Rajat Gupta's demand for Bloomberg was under consideration, he will get one of the best high tech terminals to trade in the stocks.
"I believe Rajat will put all his experience in the stock markets and would do insider trading in more effortless manner from jail," said US President Barack Obama.
He said "With Raj Rajratnam (11 years in jail), I am hopeful that Rajat Gupta will make all the efforts to boost US' capital markets."
Talking on his new duty, Rajat Gupta said "I am thankful to great country the USA for providing me such a great honour to trade from jail so that I can live the name insider trading, that is trading from jail."
However, beggar humbly denied for his great help
Vijay Mallya, Chairman of United Spirits Group found giving Rs 1000 cheque to beggars, who were begging on Bangalore streets. However, to the shock of Mallya, great new-age Entrepreneur of India, all the beggars denied his cheque humbly.
India Satire correspondent, who was present on a signal of Bangalore's MG Road said that he saw a car stopped at signal and a beggar as a natural habit went to the car and begged 2-5 rupees. However, a cheque of Rs 1000 came from inside and gave it to the beggar, which he humbly refused to take. Incidentally, the car was owned by Vijay Mallya.
The beggar, B Ramprasad said "I knew it was Mallya. Everyday for last few weeks, whenever we go to him he actually gives us a cheque and asked us to deposit. Initially, first few days we accepted those cheques and deposited in the bank, but all were bounced on account of unavailability of balance. Finally, we stopped accepting them and told him that we only accept cash or credit card that too if he bears 2% service charge."
In another incidence, Vijay Mallya himself went to one beggar called Radhakrishnan Appaswamy and offered him a 1000 rupees cheque for praying God for some bit of respite to him from Kingfisher. However, Radhakrishnan himself refused to accept the same and offered his prayers for free of cost.
32.60 (+2.02%)
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