Indian Rupee and Sensex Index after fraud

Indian Rupee and Indian Sensex Stock Market present us with an incredible long term buying opportunity. Indian Rupee Exchange Rate Forex trade will be open to the worldwide public. This will open up the books on many Indian companies. Exposing little or nothing, this renewed confidence will drive the Indian Markets and Indian Rupee higher as we move forward.

Indian companies exposed accounting door day stock plunge 80 percent

JP Morgan Chase, said the incident to the Indian stock market provides an attractive “buy”

Securities Times reporter Wu Ming

By India’s fourth largest software service providers Satyam Software Technologies Ltd. (Satyam Computer Services Ltd) Wednesday revealed a huge accounting fraud case, the company’s share price in a single day plunge nearly 80 percent, to close at 39.95 rupees, the company’s value 7 billion U.S. dollars from the “evaporation” to only 550 million U.S. dollars. Dragged down by the day, India’s Bombay Stock Exchange benchmark Sensex index fell 7.3 percent. This news business in India triggered a mighty uproar, investors have questioned the performance of listed companies in India authenticity.

Satyam Technology Co., Ltd., founder and chairman Raja announced his resignation Wednesday and acknowledged that the company’s financial performance on important fraud, including making more than 10 billion U.S. dollars cash balance, but also exaggerated the company’s profits over the past few years and Claims on the scale of the company’s liabilities, such as false. The company listed in New York American Depositary Receipt (ADR) has also been declared an indefinite cessation of the New York Stock Exchange trading.

Coincidentally, “Satyam” in Sanskrit is “true” means, many analysts to have Satyam’s accounting fraud case and Mr Adolf fraud case mentioned in the same breath. India’s main market regulator Securities and Exchange Commission Chairman CB Bhave said that the accounting fraud case Satyam the seriousness of the shocking. India has been the Securities and Exchange Commission yesterday ordered a Satyam company to conduct an investigation. Accounting fraud case deal may also lead to a number of investors filed lawsuits against the company in addition to the board of directors and board of supervisors, we should also be charged with responsibility for auditing the company’s accounting firm PricewaterhouseCoopers.

In order to customer’s emotional stability, a Satyam company’s top executives yesterday that it had been informed of all corporate accounting scandals affected customers, Satyam’s business as usual. Nissan Motor and Sony Corporation spokesman yesterday confirmed the company with Satyam for cooperation exist, but have received assurance company Satyam.

As a family business in India, accounting fraud case Satyam also investors in the Indian family business in the corporate culture on the existence of risk. India has long been a family business to investors in order to nepotism, poor management, lack of transparency and other issues. 30 stock market in Mumbai stock index, over half of the enterprises are controlled by the family. At the same time, the incident also provide investors with a number of emerging markets corporate governance and regulatory systems uneasy.

Although Satyam due to “accounting doors” lead to stock prices, but the Indian stock market or be affirmed. Yesterday, JP Morgan Chase to the Indian stock market rating from “underweight” to “neutral” level, and said that “accounting door” to the Indian stock market provides an attractive “buy.” JP Morgan also said that accounting scandals Satyam is only the issue of individual companies, on the whole the impact of the Indian stock market will be limited.

Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver us dollar rupee
FXClub - Foreign Exchange online trading platform