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Monday, March 3, 2008

Is Wadia palnning to take real estate biz public..
At Nusli Wadia's Bombay Dyeing & Mabufacturing Company, there business from its core. Textiles, DMT(polyester material) and real estate has emerged as the company's breadwinner even as the fortunes of its textile and DMT business fluctuation. Speculation in the market now is that the company, in an attempt to unlock value, will spin off the real estate business into a separate entity. A thought on the minds of the managament, sources added, is to then take this entity public. They argue that this will help the company bring more of its freehold land into real estate development.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
22:30 10-Year Note Auction 1 4.435% 4.310%
23:30 FOMC Minutes 3
Thursday, Apr 10
02:20 Fed's Hammack speech 2
03:00 Fed's Kashkari speech 2
04:31 RICS Housing Price Balance 1 2% 8% 11%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 2 223K 219K
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
18:00 Building Permits (MoM) 1 -0.8% -3.2%
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