March-end 2014 Sensex target is 22,000, says Nomura

Exporters and private banks are preferred investments among rate cyclicals, but one must remain cautious on domestic growth cyclicals, says Nomura in a research note

Nomura has a set a March-end 2014 Sensex target of 22,000. Its top stock picks are ICICI Bank, HCL Technologies, Reliance Industries, TCS and NTPC.


Nomura continues to prefer exporters, and private banks among rate cyclicals, but it remains cautious on domestic growth cyclicals.


In its September quarter review, Nomura says that it expected strong top-line growth and relatively muted input cost pressures to translate into a rebound in profits, while supporting margins and offsetting, to an extent, margin-erosive high competitive intensity. Corporate results were largely consistent with this forecast.


Nomura observes that a large part of this turnaround in top-line and net profit growth is driven by a clutch of external-facing sectors—non-PSU oil & gas, IT services, autos (driven by JLR) and pharma (to a smaller extent).


The sector-wise earnings scorecard is given in the table below:


The quarterly earnings changes for Nifty stocks are given in the table below:




SEBI says Sahara's overvalued properties are without original title deed

SEBI told the Supreme Court that Sahara group has overvalued its properties and did not hand over all original title deeds of assets worth Rs20,000 crore

Market regulator Securities and Exchange Board of India (SEBI) on Wednesday told the Supreme Court that Sahara group has overvalued its properties and did not hand over all original title deeds of assets worth Rs20,000 crore as per the directions of the apex court.


SEBI said that SC's order has not been complied with by the Subrato Roy-led Sahara group and assets whose documents were given to the market regulator is worth much less than Rs20,000 crore.


A bench of justices KS Radhakrishnan and JS Khehar expressed displeasure on the issue but refrained from passing any order as the Sahara's arguing counsel was not present in the court.


"It is a mockery of our order if it has been complied with in this way," the bench said and posted the case for hearing on Thursday after Sahara sought adjournment on the ground of non availability of its counsel.


Sahara has given documents of two plots of land in and around Mumbai to SEBI. One of the two properties is a 106-acre land in Versova, a western suburb, which according to it is worth around Rs19,000 crore. The other is a 200-acre land in Vasai, which it estimates to be worth about Rs1,000 crore. The valuation of the properties by Sahara is challenged by SEBI.


SEBI contended that a portion of the properties were in the "thick" of litigation.


Holding that it was playing "hide and seek" and cannot be trusted any more, the Supreme Cour on 28th October directed Sahara group to hand over title deeds of its properties worth Rs20,000 crore to SEBI. The apex court also warned that failure to comply its order to the satisfaction of the market regulator within three weeks would mean Sahara chief Subrata Roy cannot leave India.


Heart attack: Cholesterol and statins are the biggest medical fraud of the century

We have been fooling the public all through by manipulating in every field of science and medicine. Heart attacks, cholesterol and statins are only the present avatar of this fraud!

If I could live my life over again, I would devote it to proving that germs seek their natural habitat, diseased tissue – rather than being the cause of the diseased tissue.”

                                                                                                        -Rudolph Virchow

The Second World War was a great event in the history of the world as also in the history of so called scientific developments in Europe. Science got a fillip with the success of the atom bomb, although that was the first indication of how reductionist science could be used for power and money! Prosperity came to Europe since that war. With prosperity comes better living standards, making people want to buy more and consume more.


Fredrickson was the first who studied the relationship between increased fat intake and incidence of coronary heart disease. He was successful in showing that the rise in heart diseases was directly proportionate to the increased intake of fat. Thus was born the ‘fat theory’ which is a bane to mankind even to this day, despite the fact that many famous researchers like John Yudkin, Peter Taggart and others had shown similar relationship between sugar intake and buying clothes, etc. They were only co-variants and not cause-effect relationships.


The medical industry was quick to grasp this opportunity to sell drugs and food to lower fat intake. The Diet-Heart Study, which started in 1954, showed that diet had NOTHING to do with heart disease as long as one does not overeat. This report was conveniently brushed under the carpet as the industry had already come up with crude drugs like Cholestyramine to reduce blood fats in diet.

In 1957, one of the first studies testing the idea that substituted polyunsaturated fat with saturated fat in the diet that would lower cholesterol and protect against heart attacks, was launched in New York. This was the beginning of the many such fraudulent studies. A new medical fraud and science fraud was perpetrated on mankind to sell more statins to reduce fats in the blood was done by the American Guidelines’Committee.

“An online calculator designed to help doctors assess heart disease risk is flawed, a problem that could result in millions of people being prescribed statin drugs who don’t need them”, the New York Times reported.

How the first medical fraud and science fraud was committed? The 1957 study was done (on 1,100 subjects) to show that replacing saturated fats in diet with polyun saturated fats will lower blood fat levels. The study DID show that but it also showed that this effort increases death at the end of the day. The second sacred truth is being suppressed even to this day. There have been numerous such studies as also studies of cholesterol lowering with chemical drugs over the last six decades and ALL OF THEM did show that total mortality increased whenever the artificial lowering of cholesterol or replacing saturated fat with polyunsaturated fats was attempted!

The climax came in a very expensive study which ran for 25 years called the MRFIT (Multiple Risk Factor Interventional Trial). The results showed that while risk factors could be reduced by our interventions THE RISK OF PRECOCIOUS DEATH increased significantly. MRFIT was just a boondoggle. There were no risk factors as far as the MRFIT study was concerned. They had studied sugar, fats, blood pressure etc. in that study. All the benefits of lowering these parameters called risk factors did not reduce the risk of early death.

Dr Norman Jollife, director of the New York City Health Department, was convinced that the hefty intake of saturated fat common at that time was one of the driving forces in the development of coronary heart disease. He recruited about 1,100 male subjects into a group he styled as the ‘Anti-Coronary Club’. The subjects consumed this Prudent Diet for several years, and cholesterol levels fell fairly markedly.

One can see how this Prudent Diet study results were sexed up and published to show enormous benefit thus:

  • Cholesterol levels fell sharply in those that ate the polyunsaturated fat-rich diet. Along the way, the researchers released interim results that caught the attention of the press. The New York Times published an article on the study in 1962 and another in 1964. Both presented the studies as showing major health improvements in the intervention group following the Prudent Diet.
  • The results were finally published in the JAMA. The trick of the trade was to show the drastic reduction in blood fat levels in the subjects and also a marginal fall in non-fatal heart attacks, but was silent on the increased total deaths in that group.
  • When you read the body of the paper it is very clear that a significantly higher percentage of people died in this group compared to the controls! According to, ”There were 26 subjects who died during the study, while only six subjects died from the control group. It gets even worse when you look at heart disease, the very problem this diet was designed to prevent.”


Science was always done that way to push the idea that needs to be pushed and the rest to be obfuscated. If one reads the wonderful book by Richard Rhodes titled ‘The Making of the Atomic Bomb, you will be more than convinced how science is really supposed to be done. Two more books would add to that knowledge, nay wisdom. They are Against Method by Paul Feyerabend, former Professor of Science philosophy at London School of Economics, a physicist himself. The second is ‘The New Paradigm’ by John OM Bockris, a distinguished professor of Chemistry at the A& M University in Texas.

The sad truth is that with the advent of money into the practice of medicine this kind of deceit has been there for centuries. No one in the medical world, leave alone the students, has heard of that great scientist who opposed our God in medicine, Louis Pasteur about his germ theory. Professor Pierre Jacques Antoine Bechamp, professor of chemistry at the University of Montpelier in France and a Chevalier of the French Legion of Honour, who had proved Louis Pasteur wrong in that he showed that germs are not the cause of diseases but are the extension of diseases.  He also showed that Pasteur was wrong in his fermentation theory. Again, Bechamp showed how Pasteur plagiarised the work of Geronimo Fracastorio, an Italian, who had demonstrated germs which he called Seminaria Contagionum almost 300 years before Pasteur. 

Antonie van Leeuwenhoek had demonstrated these germs through his simple microscope and had written about them as far back as 1683. So, Pasteur was not the father of this theory. But ‘germ theory’ had money behind it and it flourishes even today with the antibiotic resistance threatening to annihilate mankind!

Bechamp’s theory is coming back to prominence now that it the immune system which is at the root of all infections, even cancer. Germs are only secondary invaders. Florence Nightingale said, “Diseases are not individuals arranged in classes, like cats and dogs, but conditions, growing out of one another. Is it not living in a continual mistake to look upon diseases as we do now, as separate entities, which must exist, like cats and dogs, instead of looking upon them as conditions, like the reactions of kindly nature, against the conditions in which we have placed ourselves?”

All these go on to show that we have been fooling the public all through by manipulating every field of science and medicine. A good medical student must keep his eyes and ears open to the truth wherever it might be. David Wootton, professor of history in Liverpool, in his book, Bad Medicine, shows how we have been harming patients since Hippocrates. No wonder cholesterol and statins are only the present avatar of this fraud!

“Nothing is lost, nothing is created ... all is transformed;

Nothing is the prey of death. All is the prey of life.”
Antoine Béchamp                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

(Professor Dr BM Hegde, a Padma Bhushan awardee in 2010, is an MD, PhD, FRCP (London, Edinburgh, Glasgow & Dublin), FACC and FAMS. He is also Editor-in-Chief of the Journal of the Science of Healing Outcomes, chairman of the State Health Society's Expert Committee, Govt of Bihar, Patna. He is former Vice Chancellor of Manipal University at Mangalore and former professor for Cardiology of the Middlesex Hospital Medical School, University of London.)



rajan chopra

3 years ago

many many thanks for tjis prestigious informative article.regards.

Suiketu Shah

3 years ago

Wonderful article.Its also a shame no importance is given to a glutene-free diet in India at all,even in products sold by MNC's.

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