Dear Niveshaks

Heartiest congratulations to all of you. We, Niveshaks, have completed another circle round the sun and have stepped into our 3^rd year of existence with glory and pride. There have been many learning opportunities for all of us and I am glad to note that we have not missed any significant one in the last one year. Participants of all B-Schools of India and some renowned foreign universities, through Niveshak, captured the essence of all happenings and analysed their implications on the world of finance. During the last 12 issues, we received more than 700 articles (including approximately 110 articles for the August anniversary issue) from the top 30 B-Schools of India. We are extremely thankful to all our article contributors across all B-Schools and to all our subscribers who supported and encouraged us through their appreciation mails and by increasing the count of our subscription. We are also thankful to Public Relations committees of all B-Schools of India who have circulated Niveshak among their participants. For all our readers who are not aware of Niveshak’s second anniversary issue’s launch ceremony, here is the news. General J J Singh, ex- Indian Army chief and incumbent Governor of Arunachal Pradesh graced the launch ceremony by releasing Niveshak which got covered and praised by some major media houses like Times of India and Telegraph. Thanks to all of you.

The beginning of 3^rd year of Niveshak coincidently started with something else also to cheer about. SENSEX recently scaled 20k figure after 32 months and have entered a new bull run with 20% gain from 2010 lows and so have other emerging markets as investors fromdeveloped nations chase returns. BSE Sensex, few days back, gained nearly 800 points (4.2%) in just 5 trading days which was the biggest weekly gain for the index in over a year while on percentage basis this was the biggest upmove in the last 10 months. With the BSE benchmark Sensex breaching the 20,000-level and still going strong, we have good reasons to believe that Indian markets have entered a bull phase and persistent FII inflows may push the index past its highest mark of 21078 in the coming days.

The cover story for this month focuses on Corporate Debt Restructuring which is often perceived as the saviour of firms distressed by an unhealthy proportion of debt in their capital structures. The article explains the procedure of CDR in detail and emphasizes on its relevance in the recent past by picking examples from the airline and retail industry. This edition also brings to you something interesting which has been the talk of the town for the last few weeks. We present to you an article on 2010 Commonwealth Games which are going to be the largest multi-sport event conducted in India to date. Nobody in 2003, when India won the bid for hosting the event, would have thought that the games will be hit by bad weather and criticism of the facilities and village in the last few days before the inauguration. But things aren’t in good shape as of now and the next 15 days are going to tell us whether India will be able to prove itself as a capable host or not. I hope the issue will definitely stimulate and keep you engrossed in the world of finance. Looking forward to your comments and wishes to bring out more interesting issues in the future.

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