Meet Divya Narendra, who has taken on Facebook

Divya Narendra, left, along with two other former Harvard students, has sued Facebook, the fast-growing social networking site.

The three men allege Facebook founder Mark Zuckerberg took the software code and a business plan from them.

Narendra, a 25-year-old Boston-based hedge fund analyst, will let his lawyer argue the case in the courtroom, but wants to speak about how he and his friends, the identical twins Cameron and Tyler Winklevoss thought up a social site for students called ConnectU four years ago and how they sought to protect members from those pretending to be students.

If the trio has its way they would like to shut down Facebook or at least get hefty compensation.

Last year, Facebook turned down a $1 billion offer from Yahoo Inc. Some Internet experts believe the network is worth much more than $1 billion.

In court filings, Facebook's attorneys say ConnectU has no evidence for 'broad-brush allegations' against Mark Zuckerberg, the founder of the site, and deny he stole the idea for Facebook from his fellow Harvard students.

Live: Market voices

Tuesday, 18 September 12:16 PM - The market is trading flat. The Sensex is at 15,499, down 5 points from the previous close. The Nifty is below the 4500 mark, at 4493, down 2 points. But the BSE Smallcap index has held on to its gains and has gained over 1%. The BSE Midcap index is also 0.6% up. Buying interest is seen in capital goods and banking stocks, while profits are being booked in almost all other sectors. Market breadth is positive with 732 advances against 408 declines on the NSE. 12:16 PM - The market is trading flat. The Sensex is at 15,499, down 5 points from the previous close. The Nifty is below the 4500 mark, at 4493, down 2 points. But the BSE Smallcap index has held on to its gains and has gained over 1%. The BSE Midcap index is also 0.6% up. Buying interest is seen in capital goods and banking stocks, while profits are being booked in almost all other sectors. Market breadth is positive with 732 advances against 408 declines on the NSE. 11:59 AM - Manali Petro has support at Rs 13.50, says Rahul Mohindar, technical analyst, on CNBC-TV18. The stock has the potential to go to Rs 18-18.50, and one can keep stoploss of Rs 13.50, he adds. 11:51 AM - The worst is over for Balrampur Chini, says Hormuz Maloo, technical analyst with Geojit Financial Services, on NDTV Profit. The stock will start moving up, but it will take some time. He recommends buying the stock at current levels and holding it for medium to long term to profit from it. 11:46 AM - Bharti Airtel is a growth story, says Rajesh Tambe, Head-Research, Sunchan Securities, on NDTV Profit. Its operating margins stand at 42-45%, which is excellent, recommending buying the stock on dips. 11:33 AM - Reliance Infrastructure has seen a big uprise recently, but there is still more headroom in the longer term, says Rahul Mohindar, technical analyst, on CNBC-TV18. It has a large resistance at Rs 780-790, but once it crosses this, it can go up to Rs 860. But he does not recommend buying the stock at current levels; buy it on sizeable corrections. 11:30 AM - Vikas Sethi, MD of Sethi FinMart believes the Dish TV stock has significant growth opportunities in the future. A Zee-group company, it has subscriber base of 2.1 million for now, which is expected to grow year-on-year, for the next five years. Therefore, the stock can appreciate over 50-60% in the next one year, he says on CNBC-TV18. 11:20 AM - The market is looking for crucial triggers, says Rahul Mohindar, technical analyst, on CNBC-TV18. Unless the Nifty breaks 4430 levels, the market is safe, he says. But overall, he is positive and recommends holding on to Nifty longs. 11:11 AM - The market is trading nervously, just few hours ahead of the Fed decision. BSE's Sensex is trading at 15,532, up 28 points from the previous close. NSE's Nifty is trading at 4498, up 4 points. Capital goods, banking and metal stocks are witnessing buying, whereas consumer durables and realty stocks are under selling pressure. The top gainers on Sensex include ICICI Bank, BHEL and Reliance Energy. Biggest losers on the index were HDFC, HDFC Bank, Cipla and ITC. 10:58 AM - In the pharma space, counters like Dr Reddy's Laboratories, Cipla, Wockhardt look good, says expert Ashish Kukreja, on Zee Business. These companies have taken steps for establishing global presence and have made acquisitons, etc and are into contract manufacturing, which is pretty profitable, he says. A good percentage of Dr Reddy's Labs business is from contract manufacturing, and therefore, he recommends buying the stock on dips. 10:37 AM - In hotels, one should go for companies that have got new projects going on stream, says Dpian Mehta, Member of BSE/NSE, on NDTV Profit. He recommends East Indian Hotels, Kamat Hotels and Royal Orchid. 10:32 AM - For the next few days, one can go long on the Nifty, but buy 'put' option as well to limit the downside in case anything goes wrong, suggests Ambareesh Baliga of Karvy Stock Broking, on Zee Business. 10:29 AM - Sugar companies are expected to report disappointing results during the next 12 months, says PN Vijay, Investment Advisor, on CNBC-TV18. But, for someone who has a long term view, he recommends taking advantage of the business cycle. 10:25 AM - Dipan Mehta, Member of the BSE/NSE is positive about Suzlon. A lot of expansion plans of the company have already gone on stream. Therefore, the company is expected to come out with excellent results, which will drive the stocks in medium to long term, he says on NDTV Profit. Mehta also recommends Asian Electronics and ICSA India. 10:18 AM - HDIL has support at Rs 560 and resisitance at Rs 635, says Ashwani Gujral, technical analyst, on CNBC-TV18. If the stock can move above Rs 635, then it can go to Rs 785, he adds. 10:14 AM - The market is going to remain cautious and rangebound ahead of the Fed meet today, says an expert on Zee Business. The Nifty may trade between 4400 and 4550. 10:09 AM - Technical analyst Ashu Kakkar recommends selling ICICI Bank at Rs 895, with a stoploss of Rs 900 and price target of Rs 882, on Zee Business. 10:04 AM - Hindustan Motors has support at Rs 30 and resistance at Rs 44, says Ashwani Gujral, technical analyst, on CNBC-TV18. If the stock does cross Rs 44, then it can go up to Rs 50, he adds. 10:01 AM - The market is expected to remain subdued throughout the day today, and could move 30-40 points in either directions, says Ambareesh Baliga of Karvy Stock Broking on Zee Business. 10:00 AM - The market opened on the negative side on Tuesday. But within minutes of opening, the Sensex climbed 20 points to trade at 15,525. The Nifty is just above the 4500 level, at 4502, up 8 points from the previous close. Market breadth is positive with 482 advances against 200 declines on the NSE. 9:55 AM - If Reliance Infrastructure can go above Rs 620, then it can touch previous highs again, says Ashwani Gujral, technical analyst, on CNBC-TV18. 9:52 AM - Technical analyst Hemen Kapadia recommends buying Wockhardt at Rs 401, with a stoploss of Rs 398 and price target of 407, on Zee Business. 9:42 AM - India Cements and Ambuja Cements stocks are expected to perform well today due to the announcement of the price hike of Rs 3 per bag in the western region, says Salil Sharma of Kapur Sharma & Company, on NDTV Profit. 9:33 AM - Technical analyst Ashu Kakkar recommends selling Tata Consultancy Services at Rs 997, with a stoploss of Rs 1003 and target price of Rs 975, on Zee Business.

Who should be the next India captain?

The national cricket selectors will meet in Mumbai on Tuesday to choose a new Indian captain following Rahul Dravid's [Images] surprise resignation. Speculation is rife that Sachin Tendulkar [Images] could be offered the high-pressure job.

The five selectors, with former captain Dilip Vengsarkar at the helm, face a catch-22 situation. Will they move forward and appoint Mahendra Singh Dhoni [Images], or set the clock back and hand Tendulkar the job for a third stint?

• Why Rahul Dravid stepped down

Tendulkar's record as captain -- four wins in 25 Tests and 23 in 73 ODIs - is not encouraging, but the selectors could still turn to him to tide over the leadership crisis.

In a week's time, India host World champions Australia in a seven-match ODI series followed by a full series against Pakistan. It remains to be seen whether the selectors believe that the 34-year-old can handle the additional responsibility of leading the side, given his recent spate of injuries. After all, he recently admitted that back to back one-dayers are taking a toll on his body.

If the selectors, in their collective wisdom, feel that the burden of ODI captaincy need not be thrust upon the champion batsman at the twilight of his career, then they have the option of taking the unprecedented step of splitting the job and offering the limited-overs' leadership to Dhoni, who also doubles up as wicketkeeper.

• 'Dravid was neither demonstrative nor flamboyant'

Dhoni is the logical candidate for the ODI job if the selectors decide to break the high-profile task to two, though there are other claimants, like Sourav Ganguly [Images], to fall back upon as a stop-gap arrangement.

Other names like V V S Laxman [Images] have also been swirling around for the Test team captaincy, the Hyderabad batsman's name being suggested by former Australia captain Ian Chappell.

Who do you feel? Should Tendulkar lead the side in both forms of the game, or should Dhoni take charge of the ODI team? Is there any other candidate who deserves the job?

BCCI asks $50-60 m for IPL team ownership

In a move that already has advertisers complaining, the Board of Control for Cricket in India (BCCI) has asked companies to pay between $50 million and $60 million (Rs 200 crore to Rs 240 crore) to own a team featuring in the Indian Premier League, the tournament it has introduced to counter Zee TV baron Subhash Chandra's Indian Cricket League.

In return, the BCCI is offering a revenue share from stadium advertising and gate money but not television rights. The team can also be listed on the stock exchanges and buyers have the right to re-sell the team at a premium.

However, ground rights for most of the matches are expected to be sold for around Rs 1.5 crore, nearly half of what the BCCI earns from cricket matches.

Explaining the structure of the deal, BCCI vice-president Lalit Modi said the IPL would follow the "franchisee model" under which a company will have to buy and manage the team.

"The company is not a sponsor but the owner of the team. Apart from the ownership amount, it will have to deal seperately with each cricketer it wants in its team. That amount will depend on the company's bargaining power," Modi said.

Sources said Sahara's sponsorship of the Indian team entailed a pay-out of Rs 3 crore per match or around Rs 300 crore for three years.

The two deals, however, are not strictly comparable because Sahara does not have revenue-sharing arrangements with the BCCI and has limited access to the team for advertising purposes.

The ICL is believed to be asking for Rs 5 crore each from three key sponsors and Rs 1.5-2.5 crore each from seven associate sponsors. Team sponsorship is available for around Rs 4 crore.

The IPL, which is modelled on the globally popular English Premier League soccer tournament, will include domestic and foreign teams that will play tournaments, including one in the Twenty20 format.

Possible advertisers say they are unsure whether there is value for money, given that the IPL is a new format.

"It sounds like a lot of money," said an executive of a leading media buying house, adding, "it implies that one has to offer the best price to win over a particular player if he wants to have a winning team".

A media expert added that the pay-out per cricketer might not be huge given that the list of players on board with the IPL � Australian bowlers Glenn McGrath, Shane Warne and former New Zealand captain Stephen Fleming � have retired from international cricket.

Either way, the money in domestic cricket is bound to grow exponentially. "In the next 10 years, the competition between the two leagues will only get more money into domestic cricket," said Anirban Das Blah, vice-president, Globosport India.

A few things you must know

1. What are Markets?
A stock market is a market for the trading of company stock/ shares, and derivatives. This includes securities listed on a stock exchange as well as those only traded privately. Market is a place where buyers and sellers of securities can enter into transactions to purchase and sell shares, bonds, debentures etc.

• 1.1 Primary markets:
  The primary market is that part of the capital markets that deals with the issuance of new securities.
• 1.2 Secondary markets:
  The secondary market is the financial market for trading of securities that have already been issued in an initial private or public offering. In the secondary market, securities are sold by and transferred from one investor or speculator to another.

(more...)

2. What are shares?
A share is one of a finite number of equal portions in the capital of a company, entitling the owner to a proportion of distributed, non-reinvested profits known as dividends and to a portion of the value of the company in case of liquidation. Equity is a share in the ownership of a company. It represents a claim on the company’s assets and earnings. As you acquire more stock, your ownership stake in the company increases. The terms share, equity and stock mean the same thing and can be used interchangeably.

3. What is a stock exchange?
A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities.

The Bombay Stock Exchange Limited, or BSE has a nation-wide reach with a presence in 417 cities and towns of India. Its index, or market indicator is known as the Sensex.

The S&P CNX Nifty, or simply Nifty, is the leading index for large companies on the National Stock Exchange of India. It consists of 50 companies representing 24 sectors of the economy, and representing approximately 47% of the traded value of all stocks on the National Stock Exchange of India (more...)

4. Who is a broker?
A stockbroker is person who is licensed to trade in shares. Brokers also have direct access to the sharemarket and can act as your agent in share transactions. For this service they charge a fee. They can also offer additional services like advice on shares, debentures, government bonds and listed property trusts and non-listed investment options (cash management trusts, property and equity trusts. (more...)

5. What is a Demat A/c?
A stockbroker is person who is licensed to trade in shares. Brokers also have direct access to the sharemarket and can act as your agent in share transactions. For this service they charge a fee. They can also offer additional services like advice on shares, debentures, government bonds and listed property trusts and non-listed investment options (cash management trusts, property and equity trusts. (more...)

6. Buying and selling of dematerialised securities
What is the procedure for selling dematerialized securities?
The procedure for selling dematerialized securities is very simple. After you have sold the securities, you would instruct your DP to debit your account with the number of securities sold by you and credit your broker's clearing account. This delivery instruction has to be given to your DP using the delivery instruction slips given to you by your DP at the time of opening the account. (more...)

How can I purchase dematerialized securities?
For receiving demat securities you may give a one-time standing instruction to your DP. This standing instruction can be given at the time of account opening or later. Alternatively, you may choose to give separate receipt instruction every time some securities are to be received. (more...)

7. How to receive income from shares?
We invest in shares to make money – either through a share’s capital growth, i.e. the amount by which the share price increases in value over time, or through the dividends it pays to its shareholders. Dividends are payments made by companies to shareholders from their profits. (more...)

8. How much should you invest?
Asset allocator and other tools…

9. How to make investment decisions?
The stock market has, perhaps, the most exciting investment opportunities for the investor community. At the same time, it could be unnerving and scary. In fact, equity investment has always remained a big challenge, not only for retail but institutional investors, too.

In short, investing in equities can be a difficult proposition for retail investors. However, equity must form a part of every investor’s portfolio. The proportion could vary, depending on the investor’s age, monetary requirements, risk appetite, etc.

To cope with volatility, it is important to have a disciplined and systematic approach to equity investment. Set your own rules and more importantly, follow them religiously. Indeed, the mantra for successful equity investment is a well thought-out, disciplined investment strategy.

A long-term monetary commitment, adherence to discipline in investment and decisions based on company fundamentals are essential ingredients for successful equity investment. (more...)

10. How to track your investments? (Portfolio tracker)
Portfolio tracker

Pak's internal politics to be decided themselves: US

WASHINGTON: The Bush administration continues to refuse taking a position on the political developments in Pakistan, saying that its "internal politics" would be decided by the people of the country.

Maintaining that the US had no role to play in developments, which could see a power-sharing deal between President Pervez Musharraf and PPP chief Benazir Bhutto, and the return of exiled former premier Nawaz Sharif, both the White House and the State Department on Thursday said America is only keen on seeing free and fair elections in Pakistan.

"We would expect that the internal politics of Pakistan is going to be something that they themselves are going to decide," State Department's deputy spokesman Tom Casey said when asked if Sharif going back to Pakistan was a good development.

"Our expectation is that any outcome in this situation or in some of the other political discussions that have been going on that we've talked about is that the outcome is going to be consistent with the rule of the law and the Pakistan constitution," he added.

Casey did not gave a substantive answer to a query on whether Washington has sought clarification from Pakistani authorities about the negotiations between Bhutto and Musharraf and whether the President is willing to give up his uniform.

"President Musharraf said that he’d address this issue of dual leadership of both his civilian -- his combined civilian and military role as Army chief and as President in accordance with the Constitution. As I said on Thursday, he's made commitment in that regard, and we would expect that he’d honour them," Casey said.

Hyderabad blasts: SIT arrests one suspected ISI agent

Hyderabad blasts: SIT arrests one suspected ISI agent Friday August 31 2007 13:01 IST UNI HYDERABAD: The Special Investigation Team (SIT), probing the twin blasts that rocked the city on august 25, has arrested a suspected ISI agent. Police sources said SIT had arrested Shadab from his house at Malakpet area on Thursday night. SIT was grilling the suspected ISI agent to get vital clues in connection with the twin blasts. The sources said Shadab had links with Shahed alias Bilal, the most wanted Bangladeshi terrorist, who resorted to violent acts in the country by triggering blasts. Shadab also contacted Shahed over telephone several times. ISI agent Abdul Sattar, who was arrested in the city recently, also confessed that Shadab had links with ISI and other terrorist outfits. Three more persons, who were picked up from several places in the city, were also being interrogated by the police.