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Showing posts with label India. Show all posts
Showing posts with label India. Show all posts

Friday, 16 December 2011

India shuts the door on the Wal-Marts of the world (WMT, COST, IFN, CRRFY)

India has reversed its decision to let foreign retailers such as Wal-mart ( WMT , quote), Carrefour SA ( CRRFY , quote ) and Costco Wholesale Corporation ( COST , quote ) own 51% of retail entities, which is a significant loss for the country and its consumers.



As reported in the Financial Times in an article by James Fontanelle-Khan, "India drops proposal to open up for western retailers," the Federation of Indian Chambers of Commerce called the reversal by India's ruling Congress "deeply disappointing."


As detailed in a previous article on www.emergingmoney.com , " India changes the game by opening its retail sector ," the country stood much to gain from greater foreign investment.


Due to the primitive state of India's infrastructure, a great deal of produce is lost in transit to market, pushing food prices upward.  There is no entity in the world better at logistics than Wal-Mart (WMT).


In addition, India's economy is stalling. The automobile, banking and airline industries are all in deep trouble. The rupee has been pounded. Credit raters have threatened to downgrade the sovereign debt of India.


As also reviewed on recent articles on www.emergingmoney.com , the closed-end fund for India, The India Fund ( IFN , quote ) is trading near its year low.


Foreign investment of both capital and management expertise from retailers such as Wal-Mart (WMT), Costco (COST) and Carrefoure SA (CRFFY) is much needed by India.

Saturday, 3 December 2011

Tail-Enders Clinch India Thrilling Victory

Tail-Enders Clinch India Thrilling Victory


Tail-Enders Clinch India Thrilling VictoryVarun Aaron hit the winning runs to secure India a one-wicket victory over the West Indies in Cuttack


India 213-9 (Sharma 72, Roach 3-46) beat
West Indies 211-9 (Bravo 60) by one wicket
First One-Day International, Cuttack
Scorecard


India left it to their last-wicket pair of Umesh Yadav and Varun Aaron to scramble a one-wicket victory over the West Indies in the first One-Day International in Cuttack.


Defending 211 for nine, the West Indies looked to be on the cusp of an unlikely win when Rohit Sharma was dismissed for 72 and Ranganath Vinay Kumar for 18 needing ten runs to win but Aaron and Yadav held their nerve to hit a couple of decisive boundaries and put India 1-0 up in the five-match series.


Sharma hit three fours and one imperious straight six as he shared in important partnerships with Ravi Jadeja (38) and Kumar to steer India from a position of 59 for five to one from which, eventually, painstakingly, they would go on to win the game.


Darren Bravo had earlier scored 60 and Danza Hyatt 31 but they were the only West Indies batsmen to spend valuable time at the crease and the inability of their team-mates to apply themselves similarly would cost them dear.


In their primary roles, Yadav (2-33) and Aaron (2-47), struck early to emove Lendl Simmons, bowled by Yadav for 19 and Marlon Samuels, bowled by Aaron for ten.


Adrian Barath's blitz of three fours in 13 balls came to an end when he was caught by wicket-keeper Parthiv Patel off Kumar for 13 before Bravo and Hyatt added 75 for the fourth wicket to put the West Indies in a strong position.


However, India fought back and after an awful miscommunication between the two batsmen left Hyatt run out by yards, Bravo fell when he was bowled by Raina.


India's spinners then choked the run-rate, Ravichandran Ashwin and Jadeja picking up a wicket apiece for a cost of 30 and 42 runs respectively as they bowled economically with only Andre Russell, who made 22 in 20 balls, threatening to break the shackles.


India made a similarly quick but error-strewn start to their run chase, Patel (12) helping himself to a couple of leg-side boundaries befor he cut Roach to Anthony Martin at point having just failed to get sufficiently over his shot.


Gautam Gambhir (4) barely got going before he edged Roach to Denesh Ramdin and the quick bowler had his third wicket when he burst through the defences of Virat Kohli to bowl the right-hander for three.


Virender Sehwag, captaining India as Mahendra Singh Dhoni takes a rest, made 20 in 29 balls before he was bowled by Russell and when Raina gave his wicket away to be caught by Bravo off the same bowler for five, India were in deep trouble with just 59 runs on the board and half the side dismissed.


Sharma and Jadeja calmly accumulated runs as they came, putting on 83 for the sixth wicket which was broken when Jadeja drove outside off stump and sliced Kieron Pollard straight to Simmons at backward point, much to his frustration, and Pollard's delight.


Vinay Kumar then made 18 to offer Sharma vital support but his dismissal, caught by Roach as he drilled Sammy to mid off five balls after Sharma was bowled via his pad by leg-spinner Martin, changed the context of the game and appeared to have undone the hard work.


However, Yadav and Aaron ensured that the game was not lost, the pair putting on 12 runs in 16 balls and both ending unbeaten on six.


The second game in the series is in 2nd December in Visakhapatnam.