Teen Traders' Blog

Ever since rumours about Apple’s tablet being launched surfaced, media world over just couldn’t stop writing about it, many predicting another blockbuster from the Apple shed. Investors have gone berserk and hopes are sky high.

 Brian Claufield writes on Forbes that Apple’s chief, Steve Jobs may be aiming the Tablet at the Amazon’s hot-selling e-reader Kindle.

Oppenheimer analyst Yair Reiner reports that Apple shall begin the manufacturing of the Tablet from February suggesting a late April Commercial release. Assuming that Apple sells 1-1.5 million units for $1000 each and make up 22% margin the tablet could amazingly add 25-38cents per Apple’s each share.

He writes Apple might be approaching publishers with a better deal then what Kindle offers. Reiner writes that Apple might just ask 30%  of revenues generated by selling e-books and moreover will not ask publishers for an exclusive commitment somewhat similar to the 70-30 share that Apple already offers to the developers making software for its iPhone and iPod Touch

-The initial public offer(IPO) of private ship-builder Pipavav Shipyard got subscribed 6.64 times till the final day today, getting a strong response from investors.BusinessStandard

-Bharat Sanchar Nigam (BSNL) would provide 1.5 lakh mobile connections during this fiscal, even as the much awaited 3G Mobile would be introduced very shortly in Coimbatore and Tiruppur, a top BSNL official said today.BusinessStandard

-Google Inc. said Apple Inc.’s top marketing executive personally told the company that its Google Voice application had been rejected because it duplicates the telephone dialer on the iPhone and could be used as a replacement.YahooFinance

-India’s foreign exchange reserves grew $3.32 billion in the week up to September 11, 2009, to $280.98 billion on the back of portfolio investments and revaluation of currencies.BusinessStandard

-World’s largest steelmaker ArcelorMittal has asked the Orissa government to treat its proposed Rs 50,000-crore project on the issue of mining lease at par with other big ticket investments.BusinessStandard

-Valuation norms for insurance cos soon: IRDA.IndiaInfoline

-Cinemax , the largest multiplex chain in Mumbai with 36 existing screens, is getting bigger by adding four more with the launch of its new property at Ghatkopar on September 19.BusinessStandard

-UBS in talks with Cognizant, Genpact to sell its BPO units-EconomicTimes

-Kolkota headquartered RPG Enterprises said it would enter the coffee chain  business by setting up a Joint Venture with an US Company.   BusinessStandard

-Gujarat to award contracts for US$10bn Solar Power Project.IndiaInfoline

-The Sensex ended flat after recovering from the lower levels to continue its winning streak for the fourth day.  BusinessStandard

-The initial public offer (IPO) of the private sector shipbuilder, Pipavav Shipyard got subscribed 1.36 times on Day 1, according to the data available on the NSE. The company received bids for 95.62 million shares as against 70.17 million shares on offer. BusinessStandard

-Corus to start Port Talbot unit on rising demand:Report.IIFL

-Tata Steel soars 8% to new 52-week high.BusinessStandard

-Ruias-led Essar Steel has sought government approval for exporting iron ore produced as waste in the process to make steel and said it would earn up to $35 million if such shipments were allowed.BusinessStandard.

-Old Models must change for economic recovery to be sustainable:WEF.IIFL

-State-run Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is losing about Rs 79 crore per day on selling auto and cooking fuel below cost.BusinessStandard

 Tata Consultancy Services, a leading IT services, business solutions and outsourcing firm, announced the opening of a new Global Delivery Centre in Buenos Aires, Argentina – the first company to officially inaugurate its facilities in the new Technology District of the city of Buenos Aires.BusinessStandard

-Aditya Birla Group’s Spice Communications soared 8.75% to Rs 78.95 on bargain hunting after the stock corrected 10.48% in the preceding two trading sessions to Rs 72.60 on Friday, 11 September 2009. The scrip topped the gainers in the BSE’s ‘A’ group.IndiaInfoline

-Indian real estate market is on its way to recovery: Makaan.com survey.

-Sun Pharma gets US anti-trust clearance for open offer.BusinessStandard

-China files WTO case over tire tariffs, Obama says they are aimed at making trade systems work.YahooFinance

-Compton Greaves, a unit of Avantha Power & Infrastructure, is reportedly interested in bidding for Areva SA’s transmission and distribution unit and has sought information on the sale.IndiaInfoline

-Real estate developer HDIL has agreed to pay tax on additional income of Rs 350 crore following raids by the revenue department, the company said in a statement today, denying it had done any wrong.BusinessStandard

-Tata Motors unveils Tata SK 407 Tipper in Keral.IndiaInfoline

-Magna: 10,500 Opel jobs in Europe could be cut. YahooFinance

-Indian drivers not good enough for F1: Mallya.BusinessStandard.

-Oil India IPO priced at Rs 1,050/share; listing on Sep 30.EconomicTimes

-Tata Motors raises Rs 236 cr via share sale in Tata Steel.BusinessStandard.

-Wipro Ltd, India’s No 3 software services firm, is seeing a pick-up in growth momentum in Europe in this quarter on increased outsourcing and stability in billing rates, a senior official said on Monday. EconomicTimes
-Omaxe to build township in Lucknow, eyes Rs 2,800 cr revenue-BusinessStandard.

Hotmail founder Sabeer Bhatia’s Sabse has acquired Jaxtr, the ad supported VoIP startup. The amount paid by Bhatia hasn’t been disclosed but sources say that Bhatia just paid “Peanuts” to buy the troubled startup, Jaxtr. But still Jaxtr has till date received venture funding of about $21.5 million and its investors include the original 3 investors of Skype. Jaxtr was founded by Phillip Mobin and Touraj Parang in October 2005.

According to the deal Jaxtr will continue to work under its own brand name. The company can be a big beneficiary to Bhatia’s Sabse which was started in January 2008 and help Bhatia access and provide Sabse’s services to the huge number Jaxtr users.

Jaxtr, the Menlo Park,CA based start-up is reported to have 10 million users in 220 countries(2008). Jaxtr provides local Phone numbers in numerous countries around the world by contracting with wholesale Direct Inward Dialing (DID) exchanges. In 2008, Jaxtr launched FreeConnect allowing free calling to mobile phones worldwide.

Recently Jaxtr was having little problems and it laid of 13 employees in October. It now has a total of 30 employees. Soon after its high profile CEO  Konstantin Guericke, LinkedIn co-founder, stepped down or was fired.

Sabeer Bhatia got in the news when he sold the free e-mailing service , Hotmail to Microsoft for $400 million. He was awarded the “Entrepreneur of the Year” by Draper Fisher Jurvertson in 1998 and was noted by TIME as one of the “People to Watch” in international business in 2002.

NetApp, Inc. the computer storage and data management company will buy DataDomain for $1.5 Billion.

Data Domain is a storage and software company  specializing in the deduplication of data. The firm has posted a decline in Profits butis a lucrative buy for NetApp as valuations have fallen considerably since the last year.

NetApp has decided to pay $25 per share in cash and stock. Such a deal is bound to increase NetApp’s global distribution and reach.

Richard Sherman from MMK partners said, “The smaller vendors like Data Domain are trying to execute against a pretty stiff headwind right now with firms like EMC out there in the marketplace exerting extensive amounts of account control.” And ,hence he told that now DataDomain can compete more effectively against EMC.

In 2008, NetApp had acquired storage service management software company Onaro.