INDIA REPORT LALCAP Deepak N. Lalwani OBE, FCSI, FCCA: Director- India E:
[email protected] 23 November 2011 22000 ALL TIME HI : 21,005 (5/11/2010) BOMBAY INR /US$ Rs 52.23 2011 Hi: 20,561 (3/1) 18000 INR /GB£ Rs81.09 2011 Lo: 15,700 (23/11) INR /EUR Rs70.12 14000 The SENSEX closed 2.2% down, to a new low of the year. The 14.3% YTD 10000 depreciation in the Rupee vs US$ and its fall yesterday to an all-time low of rs 6000 OMBAY SENSEX 30 - 5 YEAR CHART 52.73 has rattled investors. FIIs have invested a mere $250 m YTD vs $ 28.7 06 07 08 09 10 11 Nov Nov Nov Nov Nov Nov bn this time last year. Source: chart & following table: Bloomberg Pts Chg % Chg 2011/12 5 Yr 5 Yr 5 Yr LONDON / NEW YORK All GDRs/ADRs in our table show CLOSE: 23 Nov 2011 Index Day YTD PER PER Hi PER Lo Avg losses, with many down 30-40%. A chg PER SENSEX 30 15,700 -365 - 21.7% 13.7x 25.0x 8.1x 18.4x new table has been added showing NIFTY 50 4,706 - 105 - 21.6% 13.3x (1/08) N/A (11/08) N/A 17.0x other Indian stocks followed. ECONOMIC NEWS .8% The Tata Group announced a successor to current 9.6% Chairman, Mr Ratan Tata, 73, ending a 15-month search. Mr Ratan Tata is to retire in December 2012. The new Chairman, Against a background of a slowing economy and who was unanimously backed by the selection committee, is Mr d policy paralysis the short session (a month) of Cyrus Mistry, 43.