Hi CB what your view on ELGI Equipments for long term....

Hi CB, How is Elgi Equipments for long term investment?

CB , waht about SE.investment .. result good .. but goes down

Hi All,

Again it might the sensex will be down:

Go with 5300 put....

Terming as "very serious" reports alleging that ISRO benefited a private firm through allocation of scarce S-band spectrum without a bidding process, Left parties today demanded a thorough probe into the "new scam".

"This is a new issue. The ISRO is under the Department of Space which is under Prime Minister (Manmohan Singh). This is also a new scam," CPI(M) Politburo member Sitaram Yechury told reporters here.

CPI National Secretary D Raja said the new revelations were "very serious", a view echoed by senior RSP leader Abani Roy who demanded a JPC into the matter.

Media reports claimed that the Comptroller and Auditor General has initiated inquiries into ISRO's agreement with a Bangalore-based firm for launch of two satellites besides allegedly providing 70 MHz of S-band spectrum for a period of 20 years without going through a bidding process.

Hi intraday, yes.. news is not good for markets overall. if this scam is confirmed then markets can fall further. for now enter a put only if nifty breaks support at 5370

Devas( Bangalore-based firm ) has issued a statement claiming that the report was incorrect.

"There are factual inaccuracies in the stories reported, and Devas Multimedia has not received any communication, regarding the contract, from ISRO/Antrix or any other government agency. We do not own any spectrum, and the services we provide will be based on satellite transponders leased from ISRO/Antrix, wherein both – the satellite and spectrum – belong to the space research organization. Contrary to reports, the GSAT 6 satellite programme already has approval from the Union Cabinet and Space Commission for its services, and Devas is developing an innovative satellite system. With reputed investors backing the company, Devas has already secured permanent Government approvals and licenses to offer ISP services on its system, for which specific time-bound technical trials were conducted in 2009," Devas said in a statement issued on Monday.

New Delhi, Feb 7: Taking note of reports that CAG is investigating the loss of nearly Rs 2 lakh crore in the allotment of scarce S-band spectrum, BJP on Monday asked Prime Minister to clear the air, initiate an inquiry and take steps to recover the lost revenue.

“This whole affair is vitiated by fraud. And as a result, this country is facing not only loss of revenue but frittering away of valuable national asset which is a rare spectrum,” BJP spokesperson Ms Nirmala Sitharaman said.

A newspaper report claimed CAG is investigating the allotment of 70 MHz from the available 2500 MHz of S-band spectrum to Devas multimedia for 20 years. The company is owned by Mr M G Chandrasekhar, former Scientific Secretary at ISRO.

BJP demanded this agreement be immediately nullified and the spectrum space given to the private user be recovered.

“Secondly, we demand a comprehensive inquiry to establish the criminality in the whole matter. We also demand recovery of the lost revenue,” Ms Sitharaman said.

The party alleged this is a “very serious scandal” as it involves a “very unique and rare” spectrum. It also said since the Department of Space is directly under the Prime Minister, he should immediately clarify his stand on the whole issue.

“The spectrum we are talking about is 5-G which relates to GHz. Recently, BSNL and MTNL were allotted only 20 MHz for Rs 12,487 crore. But for allocation of 70 MHz to this private operator, the government is charging only Rs 1,000 crore,” Ms Sitharaman said.

Meanwhile, the office of CAG has clarified that its investigations into the issue are at a preliminary stage and the media reports should not be treated as findings of this department.

BJP also questioned the manner in which the spectrum was allocated without bringing the issue to the public domain.

“This is the first time the allocation for this band has taken place. It is a very unique band. Relates to a very high MHz frequency. And this allocation was done very quietly, without any public auctioning or bringing it in the public domain. And given to a private operator,” Sitharaman said.

She maintained that only 190 MHz of the S-band is available. Of this, 150 MHz is with the Department of Space and 70 MHz of this was alloted to Devas multimedia.

“2-G spectrum is much inferior. But 2-G spectrum related to only 4.4 MHz. CAG said here the loss was 1.76 lakh crore.

3-G is 50 MHz. Here due to media and public pressure, it went for auction. And the government’s revenue earning here was Rs 67,719 Crore,” Ms Sitharaman said, drawing a comparison.

She alleged the loss due to this allocation of 70 MHz was Rs 2 lakh crore.

“From mid-2011, the commercial use of this spectrum is going to commence. The process of allocation was violated.

Moreover, Devas Multimedia has also been given two custom-made satellites and 10 transponders for use.

hi "KARTIK" holding "TATAMOTORS" 1100 put now i am in loss what to do, how is "TATAMOTORS" technically.hold or sell on a rise ?