Intraday -05-04-07.

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Intraday~ 03-04-07

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A Bright Idea.

I was just reading an article on wordpad. Here's a preview of it:

New cancer treatment hailed as a breakthrough, but since it's based on a common, non-patented drug, it may be hard to find money for clinical trails:

A simple molecule, used for decades to treat children with rare metabolic diseases, commits "immortal" cancer cells to a natural death and could soon be used to treat many forms of cancer, according to a new study.

University of Alberta researchers were excited to discover that dichloroacetate (DCA) causes regression in several cancers, including lung, breast and brain tumours.
....

DCA, a non-toxic compound comprised of "a couple of oxygens, a couple of chlorides and a couple of carbons," appears to repair the damage that cancer cells cause to mitochondria -- the energy- producing units in cells.

Mitochondria regulate cell death and because cancer cells suppress their mitochondria, they achieve "immortality," Dr. Michelakis said. This appears to offer cancer cells a significant advantage in growth compared to normal cells as well as protection from many standard chemotherapies, he said.

DCA "puts life into the mitochondria," making cancer cells more susceptible to apoptosis -- a natural cell suicide mechanism that enables a person to control cell numbers and kill off cells that threaten his or her survival, he said.
DCA, being so small, is easily absorbed into the body, and after oral intake, it can reach areas in the body that other drugs cannot -- making it possible to treat brain cancers.

It could one day be used in conjunction with traditional chemotherapies, Dr. Michelakis said.

"The DCA will enable the cell death mechanisms and then chemotherapy would have a much easier job; you could use lower doses and [the chemotherapy would be] less toxic," he said.

DCA affects cancer cells without affecting normal ones, he added.
Because the inexpensive drug has been used on both healthy and ill patients for 30 years, it can be immediately tested on people suffering from cancer, Dr. Michelakis said.

But because DCA is not patented and is not owned by a pharmaceutical company, it will be a challenge to find funding to begin clinical trials, he said.



There are many such cases in madicines that needs fundings and does have many problems....Was trying to find solution to such things and here's is one bright idea. Do Read On:

There are thousands of promising drugs for treating diseases that are simply not getting studied or brought to market because they are derived from natural or common substances that can't be patented. The dirty little secret of the pharma business is that even a miracle cure for cancer won't be invested in if it can't be defended as a proprietary product.

So here's an idea for the ultra-rich (if you are reading this). If you really want to help the world, start a foundation that funds "open-source medicine" -- the research, development, trials and distribution of non-patentable (or at least non-patented...) drugs. This includes not only herbal and traditional remedies, but also other remedies derived from common substances that just cannot be patented. And in addition it includes potentially patentable cures, which are found and then deliberately released as open-source so that nobody can patent them.

Open-source development has made a huge difference for software, so why not pharma and medicine? Why should all drug development be commercial?

Your shiny new foundation would bring together the greatest minds to collaboratively cure diseases for the betterment of mankind. Now that would be a great legacy!

I am not at all saying such institue should sell drugs at free!! But this would bring a pool of genius together specially in country like India we do need such things. Dont we?

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Intraday 02-04-07.

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Current Account Deficit Narrows.

During October-December 2006, India's current account deficit was lower at USD 3 billion as compared to USD 4.8 billion during the corresponding period of 2005. Doubling of inflows under net invisibles helped to narrow down the current account deficit even as trade deficit widened further during October-December 2006.

Imports surged by a hefty 25 per cent to USD 47.9 billion during October-December 2006. Exports, however, increased at lower rate of 14 per cent to USD 28.9 billion during the quarter. The faster expansion in imports as against exports resulted in the trade deficit widening to USD 19 billion during October-December 2006 as compared to USD 13 billion during the corresponding quarter of 2005.

Net invisibles receipts almost doubled to USD 16 billion during October-December 2006 as compared to USD 8.2 billion during the corresponding quarter of 2005. The increase was on account of sharp rise in invisibles receipts even as payments remained at almost the same level. Steady expansion in invisibles surplus reflected mainly the rise in software, professional and business services, and remittances from overseas Indians.

During October-December 2006, net capital inflows were considerably higher at USD 10.7 billion as against USD 0.4 billion during the corresponding quarter of 2005. The sharply lower inflows during October-December 2005 were on account of outflows due to repayments of India Millennium Deposits (USD 5.5 billion).

The major contributors to net capital inflows were external commercial borrowings, NRI deposits and other capital. Large inflows were recorded under foreign direct investment (USD 8.7 billion) but correspondingly outflows also remained significantly large (USD 6.4 billion) following the spate of foreign acquisitions by Indian corporates.

Liquidity Tightning.

The interbank call rates touched an intra-day high of 70 per cent on the last trading day of the financial year, signalling extreme liquidity tightness in the market, before closing at 30 per cent.

The market has been reeling under tight liquidity on the back of advance tax outflows of around Rs 40,000 crore and the RBI’s liquidity absorption measures.

Anticipating a depreciation of the spot rupee next week, most banks entered into sell-buy swaps by selling dollars to be bought next week anticipating a dollar appreciation. On the back of such swaps, the spot rupee opened at 43.67/68 but closed at a high of 43.47/48 to a dollar.

Weak Dollar!!

What is happening to the rupee?

An appreciation of close to two per cent in a span of five working days....and around double that in over a months time!

Has RBI stopped buying dollars from the open market, because the inflows are not as strong to result in a four per cent appreciation in the rupee against the greenback?

Ofcourse, the sharp appreciation in the rupee against the dollar will keep foriegn investors happy since besides the gain from appreciation in stock prices, FIIs also gain from an appreciation in Rupee. This is because for the same amount of rupees, currently invested, they stand to earn more dollars.

However, Indian IT companies wont like this sharp appreciation in rupee. Since they are exporters of services and earn their revenues in dollars, they will get less rupees for the same number of dollars compared to a month ago. Their margins will take a hit if the rupee appreciation continues.

here's a small and a very simplistic example:

- Company: Infy
- Size of order executed: USD 100 million
- Order finalised in say Feb: when the conversion rate was Rs.44.5 to a Dollar.
- Infy accordingly submits its quote, gets the order and executes the same.
- It stands to earn a 20% margin, ie. USD 20 million or if converted into INR (@ 44.5), Rs.89 crore.

- Suppose INR to a Dollar appreciates to Rs.42.8 (as is the case now). For its USD 20 million, Infy will now recieve (20,000,000 x 42.8) = Rs.85.6 crore or a loss of Rs.3.4 crore.


Watch out for a weakness in IT counters on the bourses. Infact, its not just the IT companies, but also garment exporters (Gokaldas, for eg)., and pharma companies.....