Finally, Infosys springs a positive surprise

Infosys Ltd has posted results for the third quarter ended 31st December, 2012. Its net profit stood at Rs23.69bn. Q3 other income at Rs5.03bn, while Q3 consolidated operating profit stood at Rs26.77bn. Net income after tax was $434 mn for the quarter ended December 31, 2012 against $431 mn for the quarter ended September 30, 2012. Earnings per American Depositary Share (EPADS) was $0.76 for the quarter ended December 31, 2012 against $0.75 for the quarter ended September 30, 2012 Liquid assets including cash and cash equivalents, current available-for-sale financial assets, investment in certificates of deposits and government bonds were $4.1 bn versus $4.3 bn as on September 30, 2012.

Other highlights:

• The company won 8 large outsourcing deals amounting to US$ 731 million of total contract value
• 14 new wins for Infosys’ products and platforms
• Infosys and its subsidiaries added 53 clients during the quarter
• Gross addition of 7,499 employees (net addition of 977) for the quarter by Infosys and its subsidiaries.
• 155,629 employees as on December 31, 2012 for Infosys and its subsidiaries
• Completed the acquisition of Lodestone Holding AG, a leading management consultancy based in Switzerland
• Infosys American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE) under the ticker symbol ‘INFY’. The company is in the process of listing its ADS on the Paris and London exchanges of NYSE Euronext...Read More

Infosys plans to hike on-site wages by 2-3%: reports,

Infosys able to maintain margins through efficiency improvements: Rajiv Bansal

IIP for November slips to -0.1%

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of November 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board. The General Index for the month of November 2012 stands at 167.3, which is 0.1% lower as compared to the level in the month of November 2011. The cumulative growth for the period April-November 2012-13 over the corresponding period of the previous year stands at 1.0%. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2012 stand at 121.7, 178.3 and 149.1 respectively, with the corresponding growth rates of (-) 5.5%, 0.3% and 2.4% as compared to November 2011 (Statement I). The cumulative growth in the three sectors during April-November 2012-13 over the corresponding period of 2011-12 has been (-) 1.5%, 1.0% and 4.4% respectively.

In terms of industries, thirteen (13) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown negative growth during the month of November 2012 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Publishing, printing and reproduction of recorded media’ has shown the highest negative growth of 22.1%, followed by 21.8% in ‘Office, accounting and computing machinery’ and 18.9% in ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’. On the other hand, the industry group ‘Electrical machinery and apparatus n.e.c.’ has shown a positive growth of 25.1% followed by 15.7% in ‘Luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products’ and 15.3% in ‘Radio, TV and communication equipment and apparatus’...Read More

India is confident to return to higher growth path: PM

Prime Minister, Dr. Manmohan Singh inaugurated the 11th Pravasi Bharatiya Divas. In his inaugural address, he said that despite domestic constraints and challenges, India is confident that the strong economic fundamentals, backed by sound policies, will enable us to return to a higher growth path. This is an imperative for the country, because, India needs rapid growth and a healthy economy to meet the aspirations of an increasingly young India and make economic development more inclusive and more sustainable. The Governemnt has taken a number of steps to boost domestic and foreign investment, accelerate project implementation and reform capital markets and the tax system. He added that among the most positive stories out of India in recent years are the acceleration in the rate of poverty reduction, stronger growth in the poorest states and improved productivity and increased real wages in our agriculture sector. This is significant, given that 65% of our population still relies on agriculture. He further said that the Government took a small first step to deliver benefits through direct transfer to beneficiaries, using the digital Aadhaar platform, which is an example of efforts to make growth more inclusive and government programmes more efficient and less vulnerable to leakages of various sorts. The Prime Minister said that the relationship between Pravasis and Bharat has taken many forms. One of its most glorious manifestations has been their contribution to India’s independence movement. Nearly a hundred years ago, almost to this day, Mahatma Gandhi returned to lead a nation’s march to freedom. This year, the country is celebrating the centenary of the Gadar Movement, which was a luminous spark of support in distant California for the struggle for independence being waged at home in our country. Apart from commemorating it by the issue of a special postage stamp, India will also upgrade the Gadar Memorial in San Francisco into a functional museum and library with a sculpture to honour the Gadar Babas, the heroes of this great national movement...Read More

We can transform country, eradicating poverty and unemployment: Anil Agarwal

The United States of the early to mid- 1900's has some striking parallels with the India of today. It was around this time that America began its journey towards becoming the world’s largest economy. The biggest factors that propelled the growth and transformation of the US were technology, natural resources, manufacturing and private enterprise; a few men who dreamt big helped create the modern America. Andrew Carnegie, John Rockefeller, Cornelius Vanderbilt, J P Morgan and Henry Ford with their entrepreneurial spirit and innovative approach built businesses that helped make the transition to the modern industrial era. They laid the foundations of the American steel industry, oil and gas, natural resources and mining, manufacturing, finance and infrastructure building including roads, rail and ports. All the five men were also great philanthropists who donated most of their wealth for the larger benefit of society. These were used to set up large universities, hospitals, museums, art and culture centres, libraries and charities. The universities also contributed as powerful research centres and acted as think tanks in areas of technology, material and space research, liberal arts and political science. Moreover, they helped develop political, business and other leaders. These created large employment opportunities and also spawned entrepreneurship. From a societal perspective, there were issues similar to India; poverty, environmental challenges, corruption and crime. It took a set of progressive presidents from Roosevelt to Eisenhower to put in place policies that encouraged private entrepreneurship, better governance, government spending and social security. This led to the gradual rise of the American superpower. America’s growth journey has some lessons for India. Both are large vibrant democracies with abundant natural resources. While America benefited from a large flow of immigrants in search of the American dream, India has a large population in the working age group. More importantly, like the US, India has people with entrepreneurial spirit who can visualize a new India and unleash its potential...Read More  

London's Precarious Brilliance, Cyber-Attacks And The Real Wealth Of Nations

Source: Economist

Hiring activity for India Inc up by 3% in Dec

Reversing the regular trend of year-end holiday season hiring dip, the Naukri Job Speak index for Dec-12 grew by 3% when compared to Nov-12 and 7% over the same time a year ago. Traditionally, December has always been a month where recruitment slows down across sectors, however this year barring minor dips in IT, ITES and Oil & Gas sector hiring activity has picked up across all the other major sectors. Hitesh Oberoi, CEO and MD, Info Edge India said "It is definitely a positive sign that hiring activity perked up in the final month of 2012. Job creation in this quarter will take place in the new emerging growth sectors rather than the traditional ones."

Industry Sector Analysis:

Auto and Banking sectors were upbeat with their hiring plans in Dec-12, Telecom, Pharma, Construction and Insurance sectors also saw positive movement in their hiring activity with the Naukri job speak index moving up 11%, 8%, 7% and 6% respectively in Dec-12 over Nov-12.. Both IT and ITES sector witnessed marginal 2% and 1% dips in their hiring levels in Dec-12. This is primarily because these sectors are impacted by the holiday season in the western countries , their main markets. On a month on month comparison, hiring activity for the Oil and Gas sector also dipped by 3% in Dec-12 over Nov-12.

Functional Area Analysis:

Barring Software services and ITES, all top functional areas witnessed positive growth figures in Dec-12. The demand for Professionals in Engineering, Supply Chain and Banking moved by 10% , 13% and 18% respectively in Dec-12 over Nov-12. Both project management and marketing professionals saw 10% positive movement in their indices in Dec-12 when compared to Nov-12

City Wise Analysis:

A comparative month on month analysis of hiring activity shows that the indices for both Mumbai and Pune moved up by 8% respectively in Dec-12 over Nov-12. Delhi and Chennai saw 6% and 3% movement in their hiring activity, while Bengaluru, Kolkata and Hyderabad saw 4%, 5% and 8% dips in their hiring levels.

WORK-EX BASED SCENARIO

In Dec-12 hiring activity dipped by minor percentages across experience levels. Barring 0-3 years experience levels which saw steady hiring activity, professionals across all the other experience levels saw about 2% dip in their hiring levels in Dec-12 over Nov-12...Read More

FAO Food Price Index down 7% in 2012

The FAO Food Price Index dropped for the third consecutive month in December 2012, edging down 1.1%. The decline in December, when the Index averaged 209 points, was led by drops in the international prices of major cereals and oils and fats. The Index’s previous low in 2012 was in June, at 200 points. For 2012 as a whole, the Index averaged 212, that is, 7.0% less than in 2011, with the sharpest falls year-on-year registered by sugar (17.1%), dairy products (14.5%) and oils (10.7%). Price declines were much more modest for cereals (2.4%) and meat (1.1%). "The result marks a reversal from the situation last July, when sharply rising prices prompted fears of a new food crisis," said Jomo Sundaram, Assistant Director-General in charge of FAO’s Economic and Social Development Department. "But international coordination, including through the Agricultural Market Information System (AMIS), as well as flagging demand in a stagnant international economy, helped ensure the price spike was short-lived and calmed markets so that 2012 prices ended up below the previous year’s levels." The FAO Cereal Price Index averaged 250 points in December, down 2.3%, or 6 points, from November. In 2012 as a whole, the index averaged 241, or 2.4% below 2011. After surging between July and September 2012 due to production uncertainties and tightening supplies, cereal export prices dropped because of weaker demand for feed and industrial uses. In December, maize prices fell sharply as large export supplies in South America relieved market pressure. Rice prices also dipped in December on expectation of good harvests, but wheat values changed little as trade remained subdued.

Oils and fats continue to decline

The FAO Oils/Fats Price Index averaged 197 points in December, down 1.9 percent, or 4 points, from November, the fourth consecutive monthly fall and the lowest level since September 2010. The main reason was the continued buildup of large global inventories of palm oil. For 2012, the index averaged 225 points, as against 252 in 2011. The FAO Meat Price Index averaged 176 points in December, down marginally from November. Prices of all meat categories remained close to their November level, except pig meat, which fell by 2.0%, or 3 points. The Index averaged 175 points over 2012, second only to the 177 points recorded for 2011. The FAO Dairy Price Index averaged 197 points in December, 0.9%, or two points, higher than in November. In the last quarter of 2012, dairy prices stabilized following a rise from mid-year lows. The average value of the Index during 2012 was 189, down sharply from 221 in 2011. Overall, the dairy market remains well-balanced, but is increasingly susceptible to supply changes related to pasture conditions, and feed availability and affordability. The FAO Sugar Price Index averaged 274 points in December, down marginally from November, and the lowest value since August 2010. The Index averaged 306 over 2012, down 17.1% from the previous year. Expectations of a third consecutive increase in global production and large export availabilities in the 2012/13 marketing season, notably in Brazil, kept international prices down for much of the second half of 2012.

Sector Previews 

Automobiles: What to expect in the result season?

Banking & Financials: What to expect in the result season?

Cement: What to expect in the result season?

FMCG: What to expect in the result season?

Infrastructure: What to expect in the result season?

Information Technology: What to expect in the result season?

Metals & Mining: What to expect in the result season?

Oil & Gas: What to expect in the result season?

Pharmaceuticals: What to expect in the result season?

Power: What to expect in the result season?

Telecom: What to expect in the result season?

Reform measures positively impacting market: FM

The Union Finance Minister P. Chidambaram said that the economic and political developments in the Eurozone area and the United States had its impact on the world economy including our economy. However, slew of reform measures taken by the Government had a positive impact on the market sentiments, the Minister added. He said that resolution of ‘fiscal cliff’ in US recently too had a positive impact on the market sentiments worldwide including India. The Finance Minister P.Chidambaram was making his opening remarks during his Fifth Pre-Budget Consultation Meeting with Economists’ Group here today. The Finance Minister said that there are mixed signals from market regarding the current economic situation in the country. He said that direct tax collections are satisfactory while indirect taxes including excise duty etc are falling short of expectations. The Finance Minister said that difficult phase is over and now focus would be on achieving higher growth during the year. Along with the Finance Minister, both the Minister of State for Finance S.S. Palanimanickam and Namo Narain Meena, Adviser to the Finance Minister, Parthasarthy Shome, Finance Secretary, R.S. Gujral, Secretary, Financial Services & Disinvestment, D.K. Mittal, Revenue Secretary, Sumit Bose, Secretary, Department of Economic Affairs, Arvind Mayaram, Chief Economic Adviser, Dr. Raghuram R. Rajan, and Chairman CBEC were present among others.

About 11 Economists representing different Organisations participated in the aforesaid meeting. The major participants included Dr. Surjit Bhalla, OXUS Research and Investments, Nitin Desai, Dr. Omkar Goswami, CERG Advisory, Dr. Rajiv Kumar, Porf. Pulin Nayak, Delhi School of Economics, Bharat Ramaswamy, ISI Delhi, Ajit Ranade, Aditya Birla Group, Dr. Shekhar Shah, NCAER, Prof. Rohini Somanathan, Delhi School of Economics, Dr. D.K. Srivastava, Madras School of Economics and Prof. Amar Yumnam, School of Social Sciences, Manipur among others. Various suggestions and proposals were received from participants during the aforesaid meeting which include to set-up Asset Management Office especially to manage central Government Urban land in various metro, two tier and three tier cities. Another suggestion included following of principle of progressivity i.e. higher tax rates for high income group, widening of tax base and effective enforcement of tax laws to penalise those who hide their income and pay less tax as well as those who despite high income do not pay any tax at all. Many participants favoured introduction of inheritance tax and certainty in tax laws and early resolution of tax disputes in a time bound manner to release money locked in it. Some participants suggested make reforms at regular intervals to keep the market sentiments high. Another proposal was to put BASEL III Reforms on hold for a year keeping in view the current economic situation. Another suggestion was to give incentives to boost small savings schemes as savings under these schemes have gone down by 5% over the years. Another suggestion was made to reduce the interest rate and agriculture credit be doubled...Read More

Existence of efficient financial markets is paramount for achieving economic growth: FM

Improving food safety measures-need of the hour: Tariq Anwar

Minister of State for Agriculture and Food Processing Industries, Tariq Anwar today described the food processing sector as the sunrise sector of the Indian economy and said that farmers who are the starting point of value chain should get benefit from various levels of food processing. He was addressing the first international conference on innovations in food processing, value chain management and food safety at NIFTEM Campus, Kundli, Haryana. Tariq Anwar added that this sector had the potential for employment and income generation. Talking about National Institute of Food Technology Entrepreneurship and Management (NIFTEM) he said that it was conceived as the Centre of excellence in the field of food technology and was established to cater to the needs of food processing sector. It provides core services between the demand and availability chain and works for upgradation of SME cluster. At present NIFTEM has 115 students in B. Tech and 88 in M. Tech. While talking on food safety Shri Anwar said that it was the need of the hour to take measures to improve food safety and the focus should be on emerging food pathogens, risk analysis and assessment and techniques involved in detection. It is of utmost importance to provide hygienic food to the consumers in India as well abroad. The Minister expressed the hope that this Conference will bring together all the stake holders of the food processing industry. A souvenir of IFpvs 2013 was also launched by the Minister of State on this occasion. A Memorandum of Understanding was signed by NIFTEM with University of Nebraska-Lincoln during the event. Other dignitaries present on the occasion were Shri Rakesh Kacker- Secretary, MoFPI and Chancellor, NIFTEM; Shri Ajit Kumar, Vice Chancellor, NIFTEM and Dr. Harvey Pearlman, Chancellor, University of Nebraska Lincoln, USA. The Conference was also attended by scientists, technocrats and entrepreneurs, providing impetus to the food processing industry of the country.

NAARM has important role to play in capacity building: Tariq Anwar

Railway Minister announces increase in passenger fares

Railway Minister Pawan Kumar Bansal has announced a fare hike with effect from January 21-22 midnight. Addressing a press conference Bansal reportedly said that having hiked the railway fares now, the government will not increase the tariff in the budget. The new fares imply a 2 paise per kilometre increase in second class ordinary suburban tariffs, report said. There were reports that fare for second class non sub-urban travel has gone up by 3 paise per kilometre and that of sleeper class has been hiked by 6 paise per kilometre. Travelling in Air conditioned (AC) chair car and sleeper class will now be costlier by 10 paise per kilometre.

India to grow at 6.7% in 2013-14: CRISIL Research

CRISIL Research, India’s largest independent and integrated research house, predicts that India’s GDP will grow at a higher rate of 6.7% in 2013-14 in comparison to 5.5 per cent estimated for the current fiscal due to a revival in consumption. A pick-up in agriculture, predicated on a normal monsoon, lower interest rates and higher government spending will support private consumption demand. The improved agricultural output, along with a stronger rupee and lower crude oil prices will also help in reducing Wholesale Price Inflation (WPI) to around 7% from 7.7 per cent projected for 2012-13. A normal monsoon will boost agricultural GDP growth to an above-trend rate of 3.5 per cent in 2013-14, also gaining from a lower base of 2012-13. With the easing of inflation, RBI is expected to cut interest rates by 75-100 basis points starting January 2013, thereby lowering retail lending rates and boosting demand in interestsensitive segments. The likely increase in government spending in the form of higher expenditure on social sector schemes and rural development will be driven by the upcoming general elections in 2014. Increased welfare expenditure by the government, lower interest rates, moderation in inflation and high farm incomes (assuming a normal monsoon) will boost household spending and thereby, benefit sectors such as consumer durables, hotels and restaurants and financial services. Further, improved external demand, as a result of marginal recovery of global growth, could raise India’s exports, especially in the IT/ITes sector. We, therefore, expect the services sector to remain healthy at 8 per cent in the next fiscal. Despite higher consumption growth, average WPI inflation is projected to be lower at 7.0 per cent in 2013-14,as against 7.7 per cent forecast for 2012-13 on back of normal monsoon, a stronger rupee, and lower crude oil prices. However, the likely upward revision of fuel prices and persistent excess demand for food articles are likely to limit the further decline in WPI inflation. The downside risks to our GDP growth forecast for 2013-14 would stem from a failure of monsoon in 2013 and deterioration in global economic prospects.

Telecom companies go slow on rural expansion: FICCI

Telecom firms in India are spending more on adding capacity in the existing markets and not expanding to new rural areas although the countryside offers a huge potential for growth. This approach defeats the objective of the national telecom policy, which focuses on increasing rural tele-density from around 39% to 70% by 2017 and 100% by 2020. In contrast, urban India has a tele-density of about 153%. High cost of infrastructure, lower returns on investment in under-penetrated rural areas, regulatory uncertainty and high cash outgo on second generation (2G) spectrum auctions are the challenges telecom companies face while expanding in rural India, analysts and industry executives said. Vodafone has to constantly increase capacity to maintain the quality of service, Sood added. When there is a growth in subscribers in an existing site, the company needs to increase capacity to prevent call drops. The more spectrum one has, the more customers one can have under the same site. Tweaking the existing infrastructure to increase capacity at a site is always less expensive than building a whole new site, he explained. Vodafone has lowered its capex in the first half of this fiscal to Rs.1,700 crore versus the Rs.2,430 crore in the first half of the preceding year. Idea Cellular Ltd, India’s third largest telecom operator, too, has lowered its capex by 17% this fiscal to Rs.3,500 crore. Since Idea has two out three customers from rural India, it expects revenue growth to come from subscriber growth in rural areas but "Idea’s rollout strategy across the country is based on a calibrated approach to market conditions", said a company spokesman. Bharti Airtel Ltd has spent a big chunk of its $1.4 billion capex in the first half of this fiscal on 3G and 4G expansion and Africa operations. On the potential in rural areas, a spokesman said mobile phones will increasingly become life-enriching tools, driven by data adoption, especially in rural areas. Companies are going slow on coverage expansion in rural areas, especially Vodafone and Idea, but market leader Bharti Airtel is still expanding into rural markets, according to senior telecom analyst Sanjay Chawla of JM Financial Institutional Securities Pvt. Ltd, a financial services firm...Read More

Year End Review 2012: Fertilizers Sector

Urea Policy

New Investment Policy-2012

The Department of Fertilizers has notified New Investment Policy- 2012 on 2nd January, 2013 in order to facilitate fresh investment in urea sector. It is expected that the demand of urea in the country by the end of 12th Five Year Plan will be around 360 lakh MT. With the approval of this policy, it is expected that nearly 100 lakh MT of additional urea capacity will be added in the country to an already existing indigenous capacity of 220 LMT and 20 LMT from OMIFCO Oman, with an investment of nearly Rs. 35,000 crores during 12th Five Year Plan period (2012-17). This will make country self reliant in urea by end of 12th Five Year Plan.

Fertilizer Subsidy in P&K fertilizers

With a view to ensure balanced use of fertilizers and to promote investment in fertilizer sector, the Department of Fertilizers is implementing the Nutrient Based Subsidy (NBS) Policy for decontrolled Phosphatic & Potassic (P&K) Fertilizers w.e.f. 1.4.2010. Under the NBS policy, a fixed rate of subsidy (in Rs. per Kg. basis) decided on annual basis is provided to each grade of subsidized P&K fertilizers depending upon its nutrient content. Any variant of the fertilizers under the NBS fortified with micronutrient Boron and Zinc, as provided under the FCO, is eligible for a separate additional fixed subsidy. Under the Policy the prices are allowed to be fixed by the fertilizer companies at reasonable level. At present 21 grades of P&K fertilizers, namely, DAP, MAP, TSP, MOP, Ammonium Sulphate, SSP and 15 grade of NPKS complex fertilizers are covered under the NBS Policy. The subsidized fertilizers are allowed for use in manufacturing of mixture and customised fertilizers. With the implementation of NBS for P&K fertilizers, the availability of the fertilizers during the last three years has been in plenty...Read More

Indian staffing sector shrinking but set to rebound: Survey

The Antal International’s ‘13th Global Snapshot’ - a major survey of employment trends around the globe has found the percentage of Indian companies recruiting at managerial and professional level has contracted by over a third. The percentage of employers in India currently hiring for managerial and professional positions now stands at 40% - 7% below the global average. Although this is the lowest level in Asia, the signs are positive that this figure will climb to 43% in the near future. Despite this, some sectors are performing particularly well and recruitment within white-collar professions is showing greater levels of activity. Within financial services 67% of companies are currently hiring for accounting roles and the same percentage of employers are looking for senior staff to work in banking. Although overall hiring is down, the percentage of businesses that are letting staff go has dropped slightly – from 23% to 20%, which suggests the beginning of a more settled job market. The ‘Global Snapshot’ project from the multi-national recruitment firm, Antal International, asked almost 17,000 organisations in major markets across 52 countries whether they were currently recruiting or letting staff go at a managerial and professional level and whether they intended to do so over the coming quarter. This survey aims at giving you a clear understanding of the market and the current recruiting trends which will help you strengthen your position in this highly unpredictable market. Attached below is a press release on the same along with the online link to the survey for your perusal. Please do let me know if this survey interests you and if you require any further information on the same or if you would like to take a quote from Joseph Devasia, Managing Partner, Antal International Mumbai.

Current account deficit to GDP may ease to 3.2% in FY14

CRISIL Research expects current account deficit to settle at around 3.2% of GDP in 2013-14. The lower current account deficit as a share of GDP in 2013-14 relative to the current year (4.7% in 1H 2012-13) is premised on lower crude oil prices, which should curb growth in imports. Brent crude oil prices are expected to decline to an average $100 per barrel in 2013-14, from $109.3 per barrel in April-December 2012-13 due to an increase in supply. We expect a marginal recovery in exports in 2013-14, due to an improved economic outlook, mainly for the US. Despite efforts to lower gold imports by imposing higher import duties, gold imports continue to remain a significant contributor to India’s current account deficit. While demand for gold moderated last year, the share of gold in India’s overall imports remains unchanged as prices have risen sharply, on account of an uncertain global outlook and quantitative easing in advanced economies. Moreover, recent data from the World Gold Council suggests that demand for gold has recovered. Gold imports in Q3 2012-13 were around 9% higher in the volume terms on a y-o-y basis, driven by growth in investments as well as demand for jewellery.

SEBI warns investors against fraudulent calls

Capital market regulator SEBI (Securities and Exchange Board of India) has warned investors not to be misled by telephone calls by a person offering investment advise posing as a SEBI official. In a notice on Thursday, SEBI said that it does not offer any investment advise or recommend products/ schemes or seeks any personal information of investors. SEBI advised investors not to entertain such calls, and verify the details of such purported official from its Web site. SEBI put out the notice pursuant to news reports of fraudulent telephone calls being made to individuals/ investors in the name of the regulatory officials giving advice on financial products.

YES BANK launches YES Remit, online remittance platform

YES BANK, India’s fourth largest private sector Bank, has launched YES Remit, an online remittance platform for NRIs based in the GCC, United Kingdom and countries comprising the Euro zone. The facility empowers NRIs to send money into an account with YES Bank or any other bank account in India. As a differentiated proposition, YES Bank is offering attractive exchange rates with nil transaction charges on all the remittances. The YES Remit platform will be gradually extended across geographies and currencies, in a phased manner. The YES Remit service has been created in association with TimesofMoney. Commenting on the offering Pralay Mondal, Senior Group President, Retail and Business Banking, said, "While augmenting our focus on YES Bank’s Global Indian Banking (NRI business), we realized that seamless transfer of money back home was one of the biggest challenge for NRIs.  YES Remit will now enable NRIs to transfer money back to India within the comfort of their home or office while enjoying an attractive exchange rate and nil transaction charges. TimesofMoney is a pioneer in this space and through our association we will strive to offer a superior and seamless Remittance facility to NRIs globally." YES BANK was the first Bank to offer Interest rate of 7.0%for Resident as well as Non-Resident Indians (NRE/NRO) Savings accounts, with balances over Rs. 1 Lakh and 6% interest for balances below Rs. 1 Lakh, post the savings rate deregulation by the Reserve Bank of India

Moody's assigns Baa2 to ICICI Bank's SGD senior unsecured bond issuance

RBI revises norms on ready forward contracts in CDS

The Reserve Bank of India (RBI) has issued revised guidelines on ready forward contracts in corporate debt securities. As part of the measures to develop the corporate bond market, repo transactions were allowed in corporate debt securities. Taking into consideration the market feedback and suggestions of the Technical Advisory Committee on Money, Foreign Exchange and Government Securities Markets, the central bank has revised the guidelines as under: Repo in corporate debt will be permitted on Commercial Papers, Certificates of Deposit and Non Convertible Debentures of less than one year of original maturity, the RBI circular said on Monday. Haircut is the difference between prices at which a market maker can buy and sell a security. For AAA rated bonds, the revised minimum haircut is at 7.5% from 10%; 8.5% (12%) for AA+ rating and 10% (15%) for AA rating.

LIC Housing Finance launches new home loan product "Bhagyalakshmi" for women

LIC Housing Finance announced the launch of a new home loan product "Bhagyalakshmi" for women home seekers. Aimed at catering to the needs of a growing number of women home seekers, this product is available to women applicants who are the sole owner of the property or the first owner in a jointly owned property. This product is offered at an attractive rate of interest beginning at 10% for the first two years which is 25 bps lower than current rates and floating rates thereafter. The floating rates applicable to this product for the balance period of the loan will be linked to the LHPLR prevailing at the time of the switch and will be set at 25 bps lower than rates applicable for other floating category home loans. As for now, this limited period offer is available till 31.3.2013.

Tax assessments being reopened in thousands: ASSOCHAM

Showing a grave concern over the fact that notices for reopening of assessments by the tax authorities are being issued in thousands in recent times, ASSOCHAM on Sunday said returns should not be re-opened beyond three years. As Finance Minister P Chidambaram has started his pre-budget consultations with different stakeholders, the ASSOCHAM has submitted a detailed memorandum to the Finance Ministry seeking changes in Sections 147/148 of the Income Tax Act . These sections relate to the tax re-assessment on matters already examined or in a blanket manner. "In recent times, tax reopening notices under sections 147/148 have become a very common occurrence and such notices are being served in thousands across the country, the ASSOCHAM memorandum said. It appears that there is no consideration in following the principles on the subject laid down by the Supreme Court and High Courts over the years, it added. Simple audit observations, even on points of law, are frequently being used as grounds for re-opening leading to "extreme harassment of all assesses. In fact, the position has become so bad that even for legislations which have become obsolete, like Interest Tax (withdrawn in Finance Act,2001), reopening are being done for very old years since the relevant law permitted reopening without any time limit", added ASSOCHAM paper. ASSOCHAM President Rajkumar N Dhoot said the provisions relating to reopening of tax assessments are being misused in different locations, particularly for salaried assesses, where scrutiny assessment is not possible as per the CBDT (Central Board of Direct Tax) guidelines. This has become a breeding ground for corruption and harassment.

ICICI Prudential Life launches ICICI Pru Shubh Retirement

ICICI Prudential Life Insurance Company Ltd (ICICI Prudential Life) announced the launch of ICICI Pru Shubh Retirement. This unit linked pension product is designed to protect the customer’s capital while capturing potential superior returns offered by equity as an asset class with the funds being invested in a combination of debt and equity. This pension product can be purchased by customers in the age bracket ranging from 35 to 70 years. The maximum maturity age for this product is 80 years and the customers can choose a premium paying term of 5 (Five) or 10 (Ten) years. ICICI Pru Shubh Retirement has been launched to address this growing need of post retirement income. This is the only pension product which offers consumers the flexibility to choose their investment strategy viz; Aggressive, Moderate and Conservative, with varying levels of equity participation based on their risk appetite. This would enable consumers to build a corpus during their working years and receive assured regular pension post retirement.

LIC hikes stake in Infosys

FEEs from tourism up 21.8%; FTAs increased of 5.4% during year 2012

Foreign Exchange Earnings (FEEs) from Tourism during the year 2012 showed an increase of 21.8% as compared to FEEs of 2011. Foreign Tourist Arrivals (FTAs) in the country also registered an increase of 5.4% during the year 2012 as compared to FTAs of 2011.

The following are the important highlights regarding FTAs and FEEs from tourism in India during the year 2012:

• Foreign Exchange Earnings (FEEs) from Tourism
• FEEs from tourism in rupee terms during 2012 were Rs.94,487 crore with a growth of 21.8% as compared to the FEEs of Rs.77,591 crore with a growth of 19.6% during the year 2011 over 2010.
• FEEs during the month of December 2012 were Rs.10,549 crore as compared to Rs.8,870 crore in December 2011 and Rs.7,039 crore in December 2010.
• The growth rate in FEEs in rupee terms in December 2012 over December 2011 was 18.9%.
• FEEs from tourism in terms of US$ during 2012 were US$17.74bn with a growth of 7.1% over 2011.
• FEEs in US$ terms during the month of December 2012 were US$1.93bn as compared to FEEs of US$1.69bn during the month of December 2011 and US$ 1.56bn in December 2010.
• The growth rate in FEEs in US$ terms in December 2012 over December 2011 was 14.4% as compared to the growth of 8.3% in December 2011 over December 2010.

Foreign Tourist Arrivals (FTAs):

• FTAs in India during 2012 were 66.48 lakh with a growth of 5.4% as compared to the FTAs of 63.09 lakh during the year 2011.
• FTAs during the Month of December 2012 were 7.50 lakh as compared to FTAs of 7.37 lakh during the month of December 2011 and 6.80 lakh in December 2010.
• There has been a growth of 1.7% in December 2012 over December 2011.

Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) on the basis of data received from major ports and Foreign Exchange Earnings (FEEs) from tourism on the basis data available from Reserve Bank of India.

CCI to seek details from OMCs on petrol pricing

The petroleum ministry to a CCI query on the issue replied that it had no role in fixing petrol price as the same has been deregulated some time back. "There was some ambiguity earlier on whether it (pricing) is coming from petroleum ministry or it is driven by the oil companies. Now, since we have the written comments from the ministry, if we proceed, we will proceed on with the oil companies," CCI chairman Ashok Chawla was quoted by reports as saying said. "Prima facie, the perception (of cartelization) was there. Petrol prices which are supposed to be deregulated as far as the government policy is concerned, if they move up and down in a very very parallel and similar fashion and even temporarily they move in same direction, then that would be the prima facie," Chawla said.

Govt may hike diesel prices by Rs 2 to 3 per litre

Prime Minister Dr. Manmohan Singh has reportedly said that the government must raise the price of diesel, kerosene, and cooking gas. Dr. Manmohan Singh hinted that government may consider hiking diesel prices by Rs 2 to 3 per litre and LPG by Rs 50 to Rs 75. the Prime Minister said "Energy remains under priced in our country, with coal, petroleum products and natural gas prices well below international prices. To meet our target of rapid, inclusive and sustainable growth we must undertake a phased rationalisation (rpt) rationalisation of energy prices to bring them in line with world prices."

LPG prices to go up by Rs. 130

GAIL India commissions LNG terminal at Dabhol

State-owned gas utility GAIL India Ltd announced commissioning of the 5 million tonnes a year LNG (liquefied natural gas) terminal at Dabhol in Maharashtra. "The terminal has just been commissioned," GAIL Chairman and Managing Director BC Tripathi said via a video conference from Mumbai. The company plans to expand the terminal to 7.5 million tonnes in two years time and then to 10 million tonnes by 2017. "Raising capacity by 2.5 million tonnes will cost Rs 1,000 crore, largerly for building a breakwater. For going up to 10 million tonnes, it will take another Rs 2,000 crore," he said.

India emerged as world's largest rice exporter in 2012: reports

India had emerged as the world's largest rice exporter in 2012 beating its Asian counterpart Thailand with shipment of around 10 million tonnes, according to reports.Reports said that country was at the third slot in 2011. Rice shipments from the country may slowdown because of shrinking export profit margin, report says. There are reports that world rice market is 35 million tonnes. Shipments from Thailand are expected to rise as the country has surplus stock of 12 million tonnes of the grain, report says.

Auto OEMs’ credit profiles unlikely to be structurally impaired : India Ratings

India Ratings-Mumbai -8 January 2013: India Ratings says that the 2013 outlook for the Indian auto industry is stable. Low demand in 2013 coupled with a capacity overhang (particularly in passenger vehicles (PVs)) and intensifying competition is likely to reduce industry operating margins. However, as the major auto original equipment manufacturers (OEMs) have low financial leverage (median net debt/EBITDA: below1.0x), their credit profiles are unlikely to be considerably impacted from a further slight weakening in credit metrics in the year. India Ratings believes that the likely 10%-11% yoy volume growth in commercial vehicles (CVs) in 2013 would be driven by the sales of light commercial vehicles (LCVs) which are likely to post yoy volume growth of 13%-15% yoy. As LCV sales depend on intra-city movement of mostly consumer non-discretionary items and rural taxis, they would be impacted only to a limited extent due to economic downturns. However, the segmental volume growth in 2013 is likely to be significantly lower than the growth of around 19% observed in 2012 due to expected higher diesel prices and negative economic sentiments persisting in the year. Medium and heavy CV (MHCV) sales which have a strong correlation with industrial activity, corporate capex and the government spending in infrastructure projects are likely to be exhibit a negative growth of 6%-9% in the absence of fiscal and monetary policy actions by the government. Alternatively, increased government spending on infrastructure and other supportive fiscal measures could lead to yoy MHCV volume growth of 3%-4% in 2013 as per India Ratings’ base case. In the agency’s opinion, PV volumes would register yoy growth of 8%-9% yoy in 2013 due largely to the continued strong demand for utility vehicles (UVs), for which sales volumes are likely to increase by 30%-35% yoy. Cars and vans which contributed 73% and 9% to domestic PV volumes in the January to November 2012 period would display muted volume growth of 2%-3% and 0.5%-1.5% yoy, respectively, in 2013. While weakening household balance sheets and high interest rates would continue to constrain demand, the likely reduction in price difference between petrol and diesel would also significantly impede revival in demand for diesel cars...Read More

Auto suppliers’ profitability & credit metrics unlikely to improve in 2013: India Ratings

Auto Industry performance indicates slowdown: SIAM

Production

The cumulative production data for April-December 2012 shows production growth of only 2.16% over the same period last year. The industry produced 1,697,625 vehicles in December 2012 as against 1,677,588 in December 2011, with marginal growth at 1.19%.

Domestic Sales

The overall growth in domestic sales during April-December 2012 was 4.57 percent over the same period last year. However, in December 2012, overall sales grew only marginally by 2.77 percent over December 2011. Passenger Vehicles segment grew at 8.37 percent during April-December 2012 over same period last year. Passenger Cars declined by -0.33 percent, Utility Vehicles grew by 59.10 percent and Vans grew by 3.71 percent during April-December 2012 as compared to the same period last year. However, in December 2012 passenger car sales fell by (-12.51) percent over December 2011. Total passenger vehicles sales also declined by (-1.13) percent in December 2012 over same month last year. The overall Commercial Vehicles segment registered marginal growth of 0.74 percent in April-December 2012 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered decline at (-19.13) percent, Light Commercial Vehicles grew at 15.61 percent. In December 2012, M&HCVs sales declined by (-38.34) percent over December 2011. Three Wheelers sales grew by 4.96 percent in April-December 2012. Passenger Carriers grew by 8.96 percent during April-December 2012 and Goods Carriers registered de-growth at (-10.29) percent during this period. Two Wheelers registered a growth of only 4.09 percent during April-December 2012. Scooters, mopeds and motorcycles grew by 18.44 percent, 1.80 percent and 0.77 percent respectively over same period last year. However, in December 2012 Scooters and Motorcycles grew by 6.40 percent and 4.83 percent respectively, while mopeds declined by (-6.88) percent over the same period last year.

Exports

During April-December 2012, overall automobile exports registered de-growth of (-2.92) percent compared to the same period last year. Passenger Vehicles grew by 10.52 percent, while the other segments like Commercial Vehicles, Three Wheelers and Two Wheelers fell by -4.76 percent, -20.88 percent and -2.79 percent respectively. In December 2012 Passenger Vehicles, Two & Three wheelers segment grew by 31.59 percent 9.36 percent and 4.63 percent respectively, while Commercial Vehicles declined by -25.79 percent.

SIAM cuts motorcycle sales growth forecast

Scooters India down almost 5% after cabinet postpones Rs.2bn revival plan

Scooters India is down almost 5% in the early morning trade today after the cabinet deferred a proposal for the revival of sick Scooters India Ltd on Thursday. Reports quoted a cabinet minister as saying that the reason for postponing the decision was due to the absence of Heavy Industries and Public Enterprises Minister Praful Patel from the meeting.  There were reports that after government postponed plan to sell its entire stake in SIL, the Department of Heavy Industry had proposed a revival package of more than Rs 2bn for revival of the company. The revival includes both cash and non-cash assistance by the government, says report. The company, which has about 1,200 regular employees, has been incurring losses since 2002-03. Scooters India stock is currently trading at Rs.39.25 down by Rs. 2.05 or 4.96% in the early morning session trade at BSE. The stock today hit a high of Rs. 40.25 and a low of Rs.39.25.

Volkswagen unveils innovative brand campaign for Polo and Vento

Volkswagen, Europe’s leading car manufacturer unveiled its innovative brand campaign "Fast Start" reiterating the brand’s strength of solid build quality, safety and features offered through the Polo and Vento. The objective of this campaign is to create awareness and interest amongst consumers about the Volkswagen volume carlines and its offerings. Commenting on the latest initiative Lutz Kothe, Head of Marketing & PR, Volkswagen Passenger Cars said "Our cars have always been built to take care of passenger safety and comfort, however in India consumers are high on their demand for features. This campaign has been intelligently crafted to take care of both the brand’s core DNA as well as the consumer demand." Fast Start will begin on 10th January 2013 and will be a combination of interesting Print advertisements and TV commercials highlighting the features of the Polo and Vento. This will be followed by a unique promotional campaign "Lucky 13", a contest specifically designed for the Polo & Vento buyers. The idea of the campaign is to change the perception of luck by making the number 13 unbelievably lucky for the customers. Lucky 13 campaign will begin from 13th January 2013.

Bloomberg TV Autocar India Awards 2013 salutes Indian Automotive Industry

India Yamaha Motor launches new color Variants of R15 version 2.0

India Yamaha Motor, India’s premium two wheeler manufacturer, has launched the variants of the bestselling Yamaha R15 version 2.0 bikes in vibrant color schemes and graphics to boost sales and create more excitement amongst customers. Further cementing its position in the 150 cc segment, R15 version 2.0 will get a complete new look in terms of color and graphics. The Yamaha R15 version 2.0 will now also be available in four more attractive colors. Since the launch of R15 version 2.0 in 2011, the bike has gained immense popularity amongst the customers, especially youngsters. It has been Yamaha’s constant endeavour to bring further excitement and variety to its style conscious customers. Yamaha launched the variants of R15 version 2.0 keeping in mind these young and enthusiastic customers who are always looking to upgrade to a more stylish product to match their ever changing fashion statement and personality. Yamaha is confident that these variants will be instrumental in catapulting its sales to a new level in this year. Speaking about the bikes, Roy Kurian, National Business Head, India Yamaha Motor said, "Since its launch the R15 version 2.0 has gained immense popularity. The launch of new color variants was in line with our promise to constantly delight our customers and is a clear illustration of how the market has responded to our bikes. Our strategic intent is to provide customers with stylish variants to suit their personalities. We have launched the R15 Version 2.0 in a complete new look in terms of color and graphics and are confident that these variants too will be an instant hit amongst the biking enthusiasts." The new Thundering Green (Special Edition) R15 Version 2.0 will be available at a price of Rs. 112,750. While the Racing Blue (Motogp edition) will be at a price of Rs. 113,750, Raring Red (Standard color) and Invincible Black (Standard color) will be at a price of Rs. 110,750 . All these prices are Ex-showroom Delhi.

Mahindra names its next generation, electric vehicle as 'e2o'

Mahindra Reva Electric Vehicles Pvt. Ltd., a part of the US $15.9 billion Mahindra Group, named its next generation, future ready, electric car as the ‘Mahindra e2o’. The Mahindra e2o is the manifestation of Mahindra Group’s vision of the ‘Future of Mobility’, which was revealed earlier this year by Group Chairman Anand Mahindra. It involves the creation of future-ready vehicles that meet the 5 C’s framework of - Clean, Convenient, Connected, Clever and Cost Effective. The Mahindra e2o is the first step in the creation of an entire electric vehicle value chain and ecosystem by the Mahindra Group. Pronounced as ‘Ee-too-oh’, the electric vehicle has undergone extensive testing, validation and has been certified as road worthy in India. The Mahindra e2o is slated to be launched soon and will be produced at Mahindra Reva’s recently inaugurated plant in Bengaluru. This is India’s first platinum certified automobile plant and has a rated capacity of 30,000 cars per annum. Started under the project code name NXR, the Mahindra e2o is ‘Powered by Reva’, benefiting from Mahindra Reva’s extensive experience in electric cars. The Mahindra e2o has been named keeping in mind the overall Mahindra Reva philosophy of "inspired by orange to go green" for sustainable living. The ‘e’ in Mahindra e2o stands for the energy of the Sun which is abundant and clean. The ‘2’ pronounced as ‘to’ signifies the connected technologies in the car, while ‘o’, represents ‘Oxygen’, the life force that sustains all of our existence on Planet Earth. Thus, the name in its totality is a testimony to the Mahindra Group’s commitment to a cleaner environment for our planet...Read More

Bajaj Auto launches All New Discover 100T

Bajaj Auto, the world’s third largest motorcycle company, launched the world’s most advanced 100 cc bike, the Discover 100T today. The Discover 100 Tourer is designed to revolutionize the 100cc motorcycle segment in India. Powered by Bajaj’s patented 4-valve DTS-i technology, the Discover 100T delivers an unbelievable 10.2 Ps of power, 30% more than other 100cc motorcycles, while still delivering fuel efficiency of 87 kpl. Elaborating on the company strategy, K Srinivas, President (Motorcycle Business), "For too long, the average commuter had to be satisfied with boring and undifferentiated 100cc bikes. While 100cc bikes do offer good mileage, their style, features and performance leave a lot to be desired. The steady growth of the more expensive 100cc bikes at the cost of the cheaper models is a clear evidence of this." He continued, "The all new Discover 100T delivers the power of a 125cc with the economy of a 100cc to bring in the joy of riding to this segment. We call it the ‘The Ultimate 100’ as it brings unprecedented levels of power, style and features to this important segment of the market."

Revolutionary features of the Discover 100T:

Engine & Drive

• World’s first 100cc with 4-valve DTS-i engine.
• 10.2 Ps power for unprecedented riding pleasure (30% more power than other 100cc motorcycles)
• Top Speed of 100 kph.
• 5-speed gear box for smooth riding and superior fuel efficiency
• Auto Choke for easy start in all weather conditions

Comfort & Safety

• Gas-filled Nitrox suspension for a cushioned ride over the toughest of roads
• Semi Double cradle chassis for safety and comfort
• DC headlamp for safe, flicker-free lighting, even at low speeds
• Electric start as standard

Stunning Style

• Chiseled, muscular tank
• Aggressive, sharp edged headlamp
• 10-spoke new design alloy wheels
• Premium aluminum side sets
• Contrasting two tone graphics

The Discover 100T will be priced at Rs 50,500/- (ex-showroom Delhi). It will be available in four colors – Flame Red, Brilliant Blue, Black Red and Black Blue...Read More

Bajaj Auto to unveil 100cc bike

KFA management is making every effort to restart operations: Vijay Mallya

Kingfisher Airlines chairman Vijay Mallya reportedly said that the management is making every effort to restart operations. Mallya urged the employees to be careful in their interaction with the media, alleging "negative reporting" by media on the carrier. Earlier Kingfisher Airlines employees threatened to file a winding up petition in the court under the Company's Act, if the management did not share its revival plan with them. "We have submitted a detailed restart plan to the DGCA which is in two parts. The first part deals with a limited re-start utilising 7 aircraft ramping up to 21 aircraft in 4 months. The second part is a full scale rehabilitation of our airline growing to 57 aircraft within 12 months of recapitalisation," Mallya reportedly said to his employees in the letter.

KFA employees plans to move court against Company: reports

Jet Airways introduces special fares on select routes to the Gulf

Jet Airways will mark the beginning of the New Year with the introduction of special fares (valid for a sale period of 5 days) on select routes to the Gulf. These special fares will go on sale effective today, January 7th to the 11th, 2013 and will be valid for travel from January 14, 2013 onwards, thus offering guests attractive and irresistible savings. These special Economy fares would be applicable on flights operating from Mumbai to Abu Dhabi, Bahrain and Kuwait. Similarly, guests can enjoy the same attractive fares on flights operating from Kochi to Muscat, Doha, Sharjah and Abu Dhabi. These affordable fares are also available on flights from Delhi to Abu Dhabi and Thiruvananthapuram to Muscat...Read More

Govt relaxes norms for construction of additional floors

Delhi government has relaxed norms for construction of additional floors in residential flats having multiple ownership with an aim to weed out corruption, according to reports. Reports said that as per a new directive, people having right over third floor will no longer require to obtain a no-objection certificate (NOC) from the other floor owners for expansion of third floor. Occupants of the existing lower floors, will have the option of expressing their views to the municipal bodies about expansion of the building and the municipal corporation "will take a decision on applications purely based on merit". Top officials in the Lt Governor's office reported that a "very clear-cut" instruction was given to all the municipal bodies last month not to insist on production of NOC for giving approval for construction of third floor".

Rolta bags contract from Memphis Light Gas and Water

Rolta International, Inc., a wholly owned subsidiary of Rolta India Limited, announced that it has been awarded a US$31 M+ contract, to be executed over the next two years, to provide consulting, systems integration and software services to the largest three-service municipal utility in the United States, Memphis Light Gas and Water (MLGW). This award includes the customization, implementation and deployment of Oracle's E-Business Suite R12, Telvent's ArcFM software and PowerPlan's suite of asset-centric accounting solutions. The project includes the full range of Oracle E-Business Suite applications, including Financials, eAM, GIS, Human Resources, Hyperion and Business Intelligence. When the integrated Oracle R12-based solution is fully deployed in 2014, it will be one of the first R12 and Oracle eAM deployments in the United States for a three-service utility. Rolta, recognized for its expertise in Oracle technologies through eight 'Titan Awards', will leverage its extensive Oracle E-Business and financials experience, and its domain expertise in the utilities sector, garnered through numerous projects world-wide. Rolta is leading a consortium including 'Signum Group', 'Teaming Solutions' and 'Stragistics', and will exploit the collective experience of the team to provide a superior solution to MLGW. MLGW will replace its 22 year-old legacy Management Support System with a comprehensive solution comprising a fully integrated Enterprise Resource Planning system that encompasses Financial Management, Work Management, Materials and Asset Management, and numerous re-engineered business processes to meet its current business needs.

L&T enters into agreement with AVEVA

Larsen & Toubro Integrated Engineering Services (L&T IES) and AVEVA announced that they have entered into an agreement which will enable Owner Operators and EPCs to take advantage of their highly complementary skills in the delivery of integrated information management solutions and associated asset data cleansing services. L&T IES and AVEVA will work together on a number of joint opportunities where the combination of L&T IES’ unrivalled asset data collection, cleansing and validation service complements AVEVA’s suite of proven enterprise solutions. The combined service enables clients to fully exploit their information assets and achieve business benefits by mitigating operational risk, improving project schedules and reducing maintenance and operational costs. This agreement reflects the growing awareness in engineering, design and operations that a successful Information Management solution must combine innovative technology with high integrity of asset data delivered through information engineering services.

McNally Bharat Engineering Company bags order worth Rs. 353.8mn

Elecon Engineering bags two orders

Indian visitors shows highest intention to visit Australia for a holiday: research

A major international tourism research project into how Indian consumers view Australia and what most motivates them to visit has been unveiled by Tourism Australia. Conducted across 11 of Australia’s key tourism markets, the research surveyed 1,200 Indian customers, who were selected on the basis of their previous long-haul travel behavior and/ or their intention to travel long haul in the next few years participated in an online survey. According to the research, the majority of Indian travellers ranked safety, world class natural beauty, value for money, romantic experiences and a destination that offers a wide range of activities for all age groups, as the biggest triggers for choosing a holiday destination. Indians ranked the Australian beaches, its Wildlife, Island experiences, Rainforests and the Great Barrier Reef, as the top attractions that appealed to travellers.

Other findings of the research were as below:

• Australia ranked No. 1 on safety, world-class natural beauty, friendly and open citizens, the highest rank amongst all competitor countries.
• Australia ranked # 1 on Food & Wine amongst those Indians who have previously travelled to Australia.
• Sydney, Gold Coast, Cairns, Melbourne and Kangaroo Island were the most appealing regions for Indians intending to visit Australia.
• 68 per cent of Indians said that they use general internet search as a preferred source when planning a trip to Australia; whilst 43 per cent would use a travel agent to book their Australia holiday.
• Indian visitors ranked amongst those with high satisfaction and expectations from their previous visit to Australia.
• Indians also showed the highest intention to visit Australia for a holiday, amongst Australia’s 11 key tourism markets.
• Most Indian travellers preferred the months of November and December as the most likely time of the year to take a holiday to Australia
• In releasing the findings, Tourism Australia as a part of its India 2020 Strategy Plan intends to further evolve its future marketing activities in India, and identify opportunities to make the country’s tourism offering more attractive to Indian visitors.

Local language - The Next Killer App? : IAMAI

Outlook for Steel producers remains stable : India Ratings

India Ratings expects credit profiles of its rated steel producers to remain stable in 2013, driven by continued albeit slow growth in domestic steel demand. The majority (92%) of ratings are on Stable Outlooks and most of them are below ‘IND BBB-’, which reflects the inherent risks in the steel sector. World Steel Association has forecasted steel consumption in India to grow at 5% in 2013. Steel producers may see a spurt in demand in the medium-term if the Indian government implements its USD1 trillion infrastructure investment plan in a timely manner. The demand for flat steel from automobile, white goods and capital goods sectors is likely to remain modest in 2013, given the continued slow economic growth. Though Indian steel producers increased prices by INR500-INR1,000 per tonne in December 2012, India Ratings expects profit margins in 2013 to remain broadly similar to 2012 levels. This is due to the persistent high cost of steel production and steel producers' limited ability to pass on higher costs due to subdued demand from end-user industries. The margin pressure will be higher on the producers with no captive raw material linkages. The cost of funding working-capital requirements remains high despite the marginal reduction in repo rate by the Reserve Bank of India in early 2012. India Ratings expects a gradual reduction in interest rates in 2013 which should provide some relief in interest costs. While higher-rated issuers invariably have access to bank funding and capital markets in certain cases, most issuers in the ‘IND A’ and below categories rely largely on bank financing and are severely affected by high interest costs.  Considering the modest demand scenario, a further rupee depreciation could pressurise the margins of companies producing flat steel through blast furnace route as bulk of coking coal is imported. This is despite import price parity of flat steel products. Moreover, a weaker rupee raises the financial leverage of steel producers with significant un-hedged foreign-currency liabilities resulting in a decrease in financial flexibility. However, the agency expects financial leverage of rated entities to remain within the guidelines stipulated for the respective rating category...Read More

Tata Steel plans to raise Rs15bn via bond sale: reports

Govt calls Expression of Interest for restructuring of CIL

Ministry of Coal has invited Expression of Interest (EIO) for providing consultancy for restructuring of Coal India Limited (CIL) a Maharatna Public Sector Undertaking of Govt. of India. Objective is to examine various issues for restructuring of CIL . These issues include:

• To examine the recommendations of various Committees and the planning Commission regarding the need for restructuring of CIL;
• To assess the effectiveness of the current management structure in meeting the objectives of the Company enunciated in the Articles of Association;
• To assess the need for restructuring of CIL in light of the avoidance of drawbacks inherent in a monopolistic situation and requirements of the Company Law and SEBI regulations and tax laws;
• To assess the scope for improving competition amongst coal mining companies which should improve production and marketing with the special emphasis on customer satisfaction.
• To assess the need for evolving administrative structures which would promote capability enhancement in individual companies to undertake planning and implementation of innovative technologies;
• To assess the current financial strengths and scope for better investment plans for enhanced production with suitable administrative control; and
• To prepare a Road Map for smooth transition towards proposed Restructuring.

Since establishment of CIL in 1975, there have been significant changes in the energy policy of the country particularly after the onset of economic liberalization in the early 1990s. The coal sector has been partially opened for private investment to captive consumption. Coal development policy has evolved over a period of time leading to doing away with the administrative price mechanism/decontrol of coal price and distribution, empowerment of performing public sector coal companies, etc. The planning Commission and a number of high level committees including Expert Committee on Road Map for Coal Sector reforms, T.L.Shankar Committee, recommended restructuring of CIL keeping in view the rapidly increasing demand for coal and the need for enhancing coal production and to make the coal industry competitive in the rapidly changing economic scenario. In light of the above, it has been proposed to take up a study for restructuring of Coal India Limited to address the following issues with a view to strengthen coal development in the country.

GE Healthcare unveils Digital Broadband 1.5T, 16 Channel MRI system

GE Healthcare a leading provider of imaging technologies announced the introduction of new 1.5T 16 channel 60cm Digital Broadband MR –system – Optima MR360 Advance in India. Optima MR360 Advance provides high definition image quality and addresses the demand for increased patient comfort, increased productivity, and reduced total cost of ownership under GE’s guiding principle of Humanizing MR. "Our 30 years’ experience in MR innovation has helped us design this high definition GE Optima MR360 Advance with the most important element in mind - the patient. Our design has not only helped enhance clinical productivity and the superior patient experience and caring design won us a design award as well. The GE Optima MR360 Advance is engineered to offer advanced clinical applications leading to excellent diagnostic confidence that is inviting to patients and user friendly for technologists. The system is also eco-friendly as it uses 34% less power as compared to similar premium 1.5T competitive systems thus lowering total cost of ownership for our healthcare providers" said Dr. Karthik Kuppusamy, Director – MR, GE Healthcare India...Read More

Biocon receives marketing authorization for Novel Biologic Itolizumab for Psoriasis

Biocon receives marketing authorization for Novel Biologic Itolizumab for Psoriasis

Fitch rates PGCIL at 'BBB-'; Outlook negative

Fitch Ratings has published India-based Power Grid Corporation of India Ltd's (PGCIL) 'BBB-' Issuer Default Rating (IDR). The Outlook is Negative. Simultaneously, the agency has published PGCIL's 'BBB-' senior unsecured rating and assigned an expected 'BBB-(EXP)' rating to its proposed bond. The final rating on the bond is contingent on the receipt of information conforming to the documentation already received. PGCIL is rated a notch below its standalone credit profile of 'BBB', due to constraint by the 'BBB-' IDR of its 69.4% owner, the state of India, which is on Negative Outlook. The Indian government, which has control over management and the appointment of the board, can influence PGCIL's financial and operating decisions. Fitch assesses the legal linkages between the two entities as moderate as the Indian government guarantees only 20%-30% of PGCIL's total debt. PGCIL is strategically important to the Indian government given its dominant position in India's electricity transmission sector. The company accounts for more than 90% of India's inter-state and inter-regional transmission systems and over 50% of the electricity transmitted in India. The company benefits from a stable and transparent regulatory system. The regulator, the Central Electricity Regulatory Commission, is consultative in its draft regulations. The well-established tariff mechanism provides cash flow predictability by allowing for a return on equity and has cost pass-through measures. Tariffs are linked to PGCIL's transmission network availability and are not dependent on the actual power transmitted. PGCIL has maintained the system availability well above mandated levels. In the financial year ended March 2012, PGCIL's system availability was 99.94% against the regulatory benchmark of 98%. Despite the grid failure in the Northern, Eastern, and North Eastern Grids in July 2012, the availability for H1 FY13 was 99.92%...Read More

26% decline in absorption of Prime office space in 2012 : CBRE

Concerns over cost reduction and a cautious approach by occupiers had a negative impact on leasing activity across key markets in India. With major corporates continuing to review expansion plans and focusing on improving existing space utilization to control costs; key markets across India witnessed almost 26% decline in absorption of prime office space during 2012. According to CBRE’s latest report on prime office space – India Office Market View Q4, 2012 – the total absorption of prime office space for 2012 was approximately 26 million sq.ft. as against 35 Million sq.ft. witnessed in 2011. The last quarter of 2012 (October to December) witnessed absorption of approximately 7 million sq.ft. of office space as compared to about 6 million sq.ft. in the previous quarter. About 70% of the transaction activity was dominated by the NCR (National Capital Region), Mumbai and Bangalore. Commenting on the findings of the report, Mr. Anshuman Magazine, Chairman and Managing Director of CBRE, South Asia Pvt. Ltd, said, "The decline in absorption across key cities is primarily due to the continuing global and domestic uncertainty in the economy which is a deterrent for corporates in their expansion plans. For the demand to revive the economic reforms in India need to be fast tracked besides global economy has to show some improvement in growth." Supply levels too witnessed a shift with bulk of the supply becoming operational only in Q4, 2012. The last quarter of the year witnessed almost 10 million sq.ft. of prime office space entering the market as against 5 million sq.ft. in Q3, 2012. This was mainly due to delays in project completions witnessed in the previous quarters. Bulk of the new supply was limited to NCR, Mumbai and Bangalore, contributing about 75% to the entire space completed during the present quarter; about 60% of the supply comprised of IT and SEZ space. The total office space supply that entered the market in 2012 was about 31 million sq.ft., compared to about 30 million sq.ft. in the previous year; this despite the fact that a large chunk of the office pipeline lined up for the year was delayed into 2013...Read More

Mumbai records 72% rise in total number of residential units launched in 2012: Cushman & Wakefield

DP growth declines from 9.3% to 6.5% crippling residential sector: Knight Frank

Knight Frank India released their Economy & Realty Report for December 2012.

Following below are some of the key takeaways.

Vulnerable residential markets:

• The residential market in 2012 was plagued by high property prices, relatively higher mortgage rates, weak business sentiments and a bleak employment scenario which is reflected in the residential launches, which declined by 30% in 2012 in comparison to a fall of 7% in 2011
• Banks’ credit exposure to developers has fallen from its peak growth rate of 23.21% in Jun-2011 to 3.88% as per the latest reported data on Sep-2012.
• Developers are cautious of launching projects as the gap between the launch and the absorption numbers reduced to 32,000 units in 2012 compared to 82,000 and 94,000 units in 2010 and 2011 respectively
• Residential sales momentum for the top-6 cities fell by 14% and 16% during 2011 and 2012 respectively. The two biggest residential markets i.e. NCR and Mumbai account for almost 60% of the total absorption in the top- 6 cities followed by Bengaluru (13%), Pune (11%), Chennai (9%) and Hyderabad (7%)

Performance and future outlook of the residential market of the top 6 cities: Delhi- NCR, Mumbai, Pune, Bengaluru, Hyderabad and Chennai:

• Delhi NCR – Increase in supply in the NCR will primarily emanate from the opening up of new sectors in the Gurgaon market. Gurgaon, Noida and Greater Noida will continue to lead the overall NCR residential market. However, controlled new supply will keep a check on the quantum of unsold inventory. As a result we expect the NCR residential market to stabilize in 2013
• Mumbai - The residential market has witnessed a phenomenon of rising property prices and declining sales volumes. High prices coupled with a stagnating job market have adversely impacted sales momentum. Going forward, the price growth in Mumbai will be muted on account of the unsold inventory and increasing share of peripheral markets
• Bengaluru: Being an end-user driven market, it is expected to remain comparatively steady. South-East and North-East residential markets will continue to lead the overall Bengaluru residential market. Controlled new supply will keep a check on the quantum of unsold inventory in 2013. Steady supply coupled with stable absorption will ensure market health
• Pune: West and East Pune, where majority of new jobs are being created, will continue to witness the maximum amount of traction in the residential space going forward. A comparatively higher number of unsold units in 2012 will ensure a marginal drop in new launches for the next year. Additionally, the prices will also stagnate as the supply overhang decreases
• Hyderabad & Chennai: Residential demand driven by IT/ITeS sector in both cities is expected to be stable in the coming year. Absorption to maintain its current level in the coming year as well. In Chennai, going forward South Chennai will continue to witness the maximum traction in terms of absorption followed by West Chennai. In Hyderabad the western zone will continue to see the most activity in terms of launches and absorption

Sahara's refund plea to be heard by same bench: SC

The Supreme Court reportedly said that the plea of two Sahara group firms for extending time to refund Rs240bn to their investors with 15% interest would be heard by the same bench which had ordered the refund on August 31 last year. A bench headed by Justice KS Radhakrishnan said for hearing the Sahara group plea, the same bench comprising him and Justice JS Khehar would have to be reconstituted, report says. Reports said that the August 31, 2012 judgement was delivered by the bench of justices Radhakrishnan and Khehar. Later on December 5, a bench headed by Chief Justice Altamas Kabir, had directed the two Sahara group firms, Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL), to make immediate payment of Rs 51.20bn and the balance in two instalments.

All 2G auctions to be held in March 2013: Kapil Sibal

Tata DOCOMO launches Postpay SMS packs for GSM & CDMA customers

Educomp Solutions to sell 50% stake in Eurokids International

Marico board approves proposal to restructure business

Marico Limited’s Board of Directors has approved restructuring of Marico’s businesses, corporate entities and organization, effective April 1, 2013. This restructuring is a proactive step to build on Marico’s sustained value creation, by proactively re-organizing itself, taking into account the context of increasing convergence of businesses in Consumer Products Business (CPB) in India and the International FMCG businesses (IBG) and Kaya’s distinct potential to create value as an independent business. The business portfolios of CPB and IBG businesses are increasingly mirroring each other especially after the company acquired the portfolio of youth brands including Set Wet, Zatak and Livon earlier this year. The company also strongly believes that for the next phase of its Value Creation journey, the Kaya business should be run in an entrepreneurial manner independently from the FMCG business of Marico.

Corporate and Business Restructuring

The Consumer Product Business (CPB) and International Business Group (IBG) will now form a unified FMCG business. Kaya will be sharply re-defined as a separate business. Marico Limited is currently the apex corporate entity, which effectively owns all businesses in the group. It proposes to create two separate companies through partitioning of the current Marico Limited, into an FMCG Business Company which is Marico Limited (already in existence) and a Kaya Business Company which will be Marico Kaya Enterprises Limited (MaKE, to be formed) or any such other name as may be approved by the Registrar of Companies. The business undertaking of Kaya housed in Marico Limited shall be demerged into MaKE through a High Court approved Scheme of Arrangement under sections 391 to 394 read with sections 78 and 100 to 103 of the Companies Act, 1956, subject to approvals by the shareholders and creditors and lenders in Marico Limited. As a consideration, the shareholders of Marico Limited as on the record date, a date likely to be in June or July 2013, shall be issued 1 share of MaKE with a face value of Rs. 10 each to be issued at a premium of Rs 200 per share for every 50 shares of Marico with a face value of Re. 1 each.

Consequently, the shareholding structure of MaKE will mirror the shareholding structure of Marico Limited. The Exchange ratio may create fractional entitlements. There will be the customary mechanism for cash being paid to the members of Marico in proportion to their respective fractional entitlements. MaKE will also be listed on the BSE and the NSE, just like Marico Limited is and will continue to be. Listing may take about 60-75 days from the date of receipt of approval of the Scheme of Arrangement from the Court. MaKE will have its own separate Board of Directors, distinct from Marico’s Board. Harsh Mariwala will continue to be the Chairman and Managing Director of both Marico Limited and Marico Kaya Enterprises Limited. There is unlikely to be any adverse impact on the income statement of Marico Limited or Kaya Limited or MaKE pursuant to the Scheme of Arrangement except for the costs of executing the proposed Scheme. These costs are not expected to be significant.

Toward a second ivoirien miracle: Christine Lagarde

(By Christine Lagarde, Managing Director, International Monetary Fund, National Assembly, Abidjan, January 7, 2013)

Honorable Mr. Speaker,

Honorable Prime Minister, Minister of Economy and Finance,

Honorable Ministers,Honorable Members of the National Assembly,

Honorable Ambassadors and Representatives of International Organizations,

Honorable Justice of the Supreme Court and President of the Economic and Social Council

Mr. Chancellor

The President of the Truth, Dialogue, and Reconciliation Commission

Ladies and gentlemen,

It is a great honor to address this assembly—a core institution of democracy, an institution that embodies the hopes and aspirations of the Ivoirien people. Let me first of all convey to each and every one of you my best wishes for a happy New Year. Through you, the representatives of the people, I extend my wishes to the entire Ivoirien population. But I also want to express my deep condolences for the tragic loss of life that took place here in Abidjan during the New Year’s celebrations. What should have been an occasion of great joy instead became an occasion of deep sorrow. May the families find peace and comfort over time.

This morning, I want to talk about a brighter topic: hope. Hope for Africa. Hope for Côte d’Ivoire. Hope for a bright future for the people of this country and this continent. As you know too well, Africa has been held back for far too long—by weak institutions that failed to serve the people, by recurring conflict that made sustained and durable development elusive, by outmoded economic structures that barred the door of opportunity to millions. But today, the winds blow differently. Change is coming. Over the past decade, Africa has been the world’s second-fastest-growing region, after emerging Asia. In some cases, theAfrican lions even outpaced the Asian tigers in their first two decades. And in less than 30 years, Africa will have a labor force of more than a billion people. Africa has demographic destiny on its side...Read More

Eurosystem unveils Europa series €5 banknote

Mario Draghi, President of the European Central Bank (ECB), unveiled the Europa series €5 banknote. The unveiling was the highlight of the opening of the "New Face of the Euro" exhibition, which is being held at the Archaeological Museum in Frankfurt am Main from 11 January to 10 March 2013. The new €5 banknote has benefited from advances in banknote technology since the first series was introduced over ten years ago. It includes some new and enhanced security features. The watermark and hologram display a portrait of Europa, a figure from Greek mythology – and hence the name of this series of banknotes. An eye-catching "emerald number" changes colour from emerald green to deep blue and displays an effect of the light that moves up and down. Short raised lines on the left and right edges of the banknote make it easier to identify the banknote, especially for visually impaired people. These security features are planned to be included in all the new banknotes. They are easy to check using the "feel, look and tilt" method. The new series has the same "ages and styles" design and dominant colours as the first series. The €5 will be the first banknote to be issued, starting on 2 May 2013. The other denominations, i.e. €10, €20, €50, €100, €200 and €500, will be introduced over the next few years, in ascending order. The first series will initially circulate alongside the new banknotes, but will gradually be withdrawn and eventually cease to be legal tender. The date when this occurs will be announced well in advance. However, the banknotes of the first series will retain their value indefinitely and can be exchanged at euro area national central banks at any time.

Global housing and mortgage lending 2013 outlook mixed: Fitch

The 2013 outlook for house prices and prime residential mortgage performance varies greatly across Europe, the US, and Australia, according to Fitch Ratings' most recent Residential Mortgage Briefing. There remain substantial concerns for the peripheral eurozone markets of Spain, Portugal, Greece, Ireland and Italy where Fitch anticipates depressed mortgage lending, continued declines in house prices and pressure on incomes and consumer confidence. The outlook for other markets is generally more stable, notably for Germany and Australia, while the US is finally expected to turn the corner in 2013.

Shale boom could spur manufacturing growth; US energy independence leads: Fitch

Low-End iPhone may trim Samsung's market lead and margins: Fitch

European Telcos benefit from scale and strong local market share: Fitch

US Global Tax Settlement best option for Swiss Banks: Fitch

Can Asia push back the tide of international financial regulations?

Asia is bracing for a slew of international financial regulations barreling toward it like back-to-back tropical cyclones. As many Asians know, cyclones can leave destructive and costly trails. Not surprisingly, Asia is pushing back. A prime example: cross-border issues related to OTC derivatives reform. In August 2012, regulators from Hong Kong, Australia, and Singapore collectively raised concerns over the U.S. Commodity Futures Trading Commission’s (CFTC) extraterritorial rules on OTC derivatives. Recently, Jin Liqun, chairman of the supervisory board of China Investment Corporation (the country’s sovereign wealth fund), said over-regulation and inappropriate market intervention are "major risks to the global recovery and threaten the efficient operation of the financial system," AsianInvestor reported. He also mentioned the hypocrisy of those who "cling to economic theories of free markets," but whose governments tighten control of the flow of capital. I think it is interesting that public figures in Asia are now taking the lead globally to push the regulatory debate forward. There is a sense of disquiet in Asia over encroaching regulation, which has come about in reaction to the global financial crisis that started in theU.S. — just as the last massive financial reform initiative, the Sarbanes–Oxley Act, followed the collapse of Enron. Even a cursory glance at the long list of new regulations in asset management and banking coming out of the EU gives further cause for alarm.Regulators in Asia attending the third annual Thomson Reuters Pan-Asian Regulatory Summit in November 2012, which was co-sponsored by CFA Institute, raised the issue of regulatory arbitrage between Asia and the U.S. and Europe. Many agree that there is no "one size fits all" template. When people ask "What does Asia think?" and "What is suitable for the Asian market?" the answers are diverse, reflecting various levels of development and priorities in the region. Unlike in the U.S. and the EU, there is no regional body here that oversees financial markets and enforces rules...Read More

Korea in running to be global leader for Biosimilar by 2020: Frost & Sullivan

With South Korea introducing a regulatory pathway for manufacturing biologics in 2009, the Government has raised its stakes in the biosimilars market. It is providing both financial and institutional support to help the market emerge as a global leader by 2020. The market is expected to come into its own in 2013-2016, when new products and segments will be launched. New analysis from Frost & Sullivan, Opportunity Analysis for Biosimilars -South Korea, finds that the market earned revenues of US$62.3mn in 2011 and estimates this to reach US$89.8mn in 2017, with erythropoietin expected to be the biggest revenue generator. "The South Korean Government considers biosimilars drug development significantly cheaper than new drug development," saidFrost & Sullivan Research Analyst Poornima Srinivasan. "Moreover, biosimilars' time-to-market is half of new drugs', making them attractive investment options." However, biosimilars' requirements of huge upfront investments and infrastructure dissuade potential investors. More importantly, biosimilars need to prove that their clinical efficacy is as robust as biologic innovator drugs'. Currently, physicians and doctors are reluctant to prescribe biosimilars because they may not be as familiar with the biosimilar developer's capabilities and expertise, as they are with the credentials of innovator drug manufacturing companies. Further, by 2020, the market will be facing a familiar challenge of dwindling pipeline, as newer and more complex originator molecules need to be identified as target markets. With many domestic companies attempting to establish a foothold, the biosimilars market will also witness changing business models. High costs associated with biosimilar development will necessitate partnerships with full-service contract research organization (CRO) providers. Aggressive merger and acquisitions encourage more pharmaceuticals to work together to expand their therapeutic products line and bolster their market prospects.

Big pharma will increasingly tap M&A to close US$100bn growth gap: Ernst & Young

Big pharma companies are facing a widening "growth gap" that will increase pressure to drive growth through mergers and acquisitions (M&A). But big pharma's attempts to make deals will be challenged by its diminished resources and fiercer competition for attractive assets from rapidly growing big biotech and specialty pharma companies. "While the dynamics of the pharma industry remain fluid, the deal environment in 2013 and beyond will be more complex and competitive," said Glen Giovannetti, Ernst & Young's Global Life Sciences Leader. "Life sciences companies that are positioned appropriately should benefit from increased competition and see higher premiums. However, the finite resources of many big pharma companies and the need to make prudent acquisitions to address the immediate growth gap mean they will likely be even more selective about the targets they pursue."

Big pharma's growth and "firepower" gaps

With continued flat sales in mature markets, big pharma defined as the 16 largest US, European and Japanese pharma companies measured by revenue has increasingly looked to emerging markets to drive overall revenue growth. However, a slowdown in these markets as a result of various factors has widened the "growth gap" facing the industry. By comparing the gap between IMS Health's forecast for the global drug market and industry analysts' estimates of big pharma sales over the next 3 years, Ernst & Young estimates that this growth gap will reach approximately US$100bn by 2015. In other words, big pharma will need an additional US$100bn in revenue in 2015 just to keep up with overall market growth. Thanks to a flat outlook in developed markets in part a result of stagnation in the Eurozone and a slowdown in emerging markets, sources of organic growth are under pressure. As a result, many big pharma companies are likely to accelerate their search for inorganic growth through M&A in 2013. However the capacity of big pharma to conduct such deals has diminished in recent years. This is due to less available operating cash resulting from slower revenue growth due partly from continued pressure on drug pricing and increased borrowing to fund higher dividends, stock repurchases and previous transactions. According to Ernst & Young, the financial capacity or "firepower" of big pharma to conduct deals has declined by 23% between 2006 and 2012...Read More

All-New Range Rover hailed as luxury car of the year by what car, UK?

Land Rover opens the New Year in the same winning style as it closed 2012, with a major award for the all-new Range Rover. The fourth generation model has been named Luxury Car of the Year by What Car? UK. Announcing the award at a presentation dinner in London, the magazine’s Editor-in-Chief Chas Hallett said: "The Range Rover combines all the merits of a 4x4 with those of the finest luxury limos in the world. The vast expanse of glass and armchair-like driving position make this a great place to travel. The sense of security brought to the mix by the high-tech four-wheel-drive system helps to make this about the most relaxing way, bar none, to cover the miles." Accepting the award, John Edwards, Land Rover Global Brand Director, said: "This award rewards everyone at Land Rover who has helped make the fourth generation Range Rover a landmark vehicle. At the same time as we have succeeded in delivering the highest standards of luxury, we have remained true to Land Rover’s core engineering heritage to ensure there is no compromise in Range Rover’s exceptional 4x4 capabilities." The all-new Range Rover displays its luxury character in its clean, modern design, use of high quality materials and exceptional equipment features. The cool and contemporary interior makes excellent use of high technology to create a relaxing cabin environment, however, demanding the conditions outside. Key elements include a four-zone climate control system, seats with integrated massage functions, seamless connectivity for mobile devices and sophisticated LED ambient lighting. Range Rover’s advanced chassis and driver assistance technologies not only ensure supreme handling performance and safety, they also deliver exceptional comfort for everyone on board, too. The new model makes advances in this area with its new two-channel Dynamic Response active lean control, and Adaptive Dynamics with continuously variable damping. In addition to its What Car? honour, Range Rover has also been named Top Gear magazine’s Luxury Car of the Year and the best 4x4 in the Sunday Times Driving supplement’s Top 100 Cars.

BMW Group sales up 10.6% in 2012

The BMW Group achieved its highest ever sales result in 2012, with a total of 1,845,186 BMW, MINI and Rolls-Royce vehicles delivered worldwide. This was an increase of 10.6% over the previous record year in 2011 (1,668,982). All three brands posted record sales for the whole year and the company strengthened its position as the leading provider of premium vehicles worldwide. The BMW Group finished the year on a strong note with 181,571 vehicles sold in December, 14.8% higher than in the same month last year (prev. yr. 158,125). "2012 was a very successful year for us. The BMW Group achieved its best ever sales result for the second year in a row and expanded its lead in the premium segment. Our success can be attributed to our attractive model portfolio, the strength of our premium brands, as well as a strategy of balanced sales across all continents," saidIan Robertson, Member of the Board of Management of BMW AG, responsible for Sales and Marketing BMW. He continued "We enter the new year with positive momentum and despite the prevailing headwinds in some markets, we aim to achieve another record year in sales in 2013. This year marks the beginning of a new era for the BMW Group, as we launch the all-electric BMW i3 towards the end of the year." BMW sales rose 11.6% in 2012 to reach a total of 1,540,085 vehicles, the best sales level in the history of the brand (prev. yr. 1,380,384). In December, a total of 152,286 vehicles were delivered - an increase of 18.8% (prev. yr. 128,182). One of the frontrunners in terms of growth was the highly successful BMW 1 Series, with a total of 226,829 vehicles sold in 2012, an increase of 28.6% over the previous year (176,418). The BMW X1 also continued to report strong gains in 2012 with a total of 147,776 vehicles sold (+16.9%; prev. yr. 126,429). The BMW 3 Series Sedan claimed the position of segment leader with 294,039 vehicles delivered, an increase of 22.4% over last year (240,278). Sales of the BMW 3 Series rose by 5.8% to a total of 406,752 vehicles (prev. yr. 384,464). Demand for the BMW X3 remained high with sales climbing 27.1% to 149,853 units sold last year (prev. yr. 117,944). The BMW 5 Series solidified its position as segment leader, with a total of 337,929 vehicles delivered to customers in 2012 (+9.0%; prev. yr. 310,050). Strong gains were also achieved by the BMW 6 Series, with 23,193 vehicles delivered to customers (+146.8; prev. yr. 9,396)...Read More

BMW India delivered 9375 cars in 2012

BMW's MINI...302 cars delivered in 2012

BMW India has maintained its momentum in the Indian luxury car market for the fourth consecutive year. Philipp von Sahr, President, BMW Group India said, "The success of BMW India has always been built on long-term thinking and responsible action. BMW has emerged as the strongest and the most coveted brand in the luxury car segment in India with the most desirable product portfolio and an efficient dealer network. Following a vision of sustainable growth and product superiority, we have continuously transformed our ability to be a value-driven, customer-focused and performance-oriented organization." BMW India will resolutely expand its CKD product range and cover all opportunities in the luxury car segment which are relevant. The all-new BMW 3 Series has already established a new benchmark and contributed to BMW’s success story in India. In 2013, BMW India will launch the new BMW X1, the new BMW 7 Series and the BMW 1 Series that will further strengthen BMW’s product portfolio in India. The new BMW 7 Series and the BMW 1 Series will be locally produced at BMW Plant Chennai in 2013. BMW dealerships presently display the BMW 3 Series, the BMW 5 Series, the BMW X1 and the BMW X3 that are produced at BMW Plant Chennai. BMW dealerships also display the BMW 6 Series Coupe, the BMW 6 Series Convertible, the BMW 6 Series Gran Coupe, the BMW 7 Series, the BMW X5, the BMW X6, the BMW Z4 and the BMW Gran Turismo which are available in the country as Completely Built-up (CBU) units. The BMW M3 Coupe, the BMW M3 Convertible, the BMW M5, the BMW M6 Coupe, the BMW M6 Convertible, the BMW X6M, the BMW 6 Series Individual and the BMW 7 Series Individual can also be ordered as CBU at BMW India dealerships. Currently, BMW India has 33 sales outlets in the Indian market across New Delhi, Gurgaon, Faridabad, Chandigarh, Ludhiana, Jaipur, Lucknow, Kanpur, Mumbai, Pune, Goa, Ahmedabad, Surat, Indore, Raipur, Nagpur, Bangalore, Mangalore, Kochi, Calicut, Chennai, Coimbatore, Hyderabad, Kolkata and Bhubaneswar. By end of 2014, BMW India will further expand its dealer network by increasing the number of sales outlets to 50 across major metropolitan centers and emerging markets in India.

GM’s US sales up 5% in December

General Motors Co.’s U.S. dealers delivered the company’s highest December sales in five years, with deliveries up 5% year over year to 245,733 vehicles. December was also GM’s best retail sales month of 2012. Retail volume was up 38% from November – about double the industry’s estimated increase. Incentive spending was competitive with industry-wide levels, according to J.D. Power PIN estimates, and remains below many Asian and domestic competitors. "All four GM brands increased their sales year over year in December and we were strong across the board in cars, crossovers and pickup trucks," said Kurt McNeil, vice president of U.S. sales operations. "We also achieved an important fuel economy milestone. In December, GM became the first U.S. automaker to sell more than 1 million vehicles in a single year that get an EPA-estimated 30 mpg or better on the highway."

December Highlights

• Total GM passenger car sales increased 14% compared with a year ago. Crossover sales were up 2% and sales of trucks, which include pickups, vans and SUVs, were equal to a year ago.
• Compared with November, total car sales increased 18%, truck sales increased 52% and crossover sales increased 22%.
• Combined mini, small and compact car sales were up 52% year over year driven by continued strong Buick Verano, Chevrolet Spark and Sonic sales; a 27% increase for the Chevrolet Cruze; and a 72% increase for the Chevrolet Volt.
• Cadillac posted a double-digit year-over-year sales increase for the third consecutive month.
• Cadillac passenger car sales increased 64% year over year as the all-new ATS and XTS continue to establish themselves in the luxury market...Read More

GM announcing new flexible application framework

China group sales rise 73% in Dec : BMW

Passenger capacity rose 3.2% in November: IATA

The International Air Transport Association (IATA) released traffic results for November 2012 which showed an improvement in both passenger and air freight demand. Air travel was 4.6% higher compared to November 2011, up on the October result of 2.9%. Air freight volumes edged up 1.6% over the same period after declining 2.6% in October, year to year. Passenger capacity rose 3.2% and load factor improved one percentage point to 77.3% compared to the year-ago period. "November brought some positive signs for air transport demand—particularly for air cargo. It is premature to consider this a turning point for air cargo markets in terms of bouncing back and regaining lost ground. But, when coupled with positive economic developments in the US and an improvement in business confidence in recent months, the conditions are aligning to see a return to growth in 2013. In 2013 we expect that cargo volumes will grow 1.4%, and passenger traffic will increase by 4.5% worldwide," said Tony Tyler, IATA’s Director General and CEO. "Passenger markets have held up better than cargo in the face of adverse economic conditions. But the current level of air travel is just 2% higher than at the start of 2012. This is considerably weaker than the long-term average growth rate," said Tyler. Compared to October, November passenger traffic grew 0.6%. The majority of growth came from domestic markets, particularly China. November air freight volumes increased 2.4% on October. This reflects a shift in seasonal shopping to online retailers, which depend heavily on air cargo. It also shows improved consumer confidence in the US. Seasonally-adjusted air freight volumes have now risen back to the levels of mid-2012, after declines in the third quarter...Read More

Virgin Atlantic Airways appoints Craig Kreeger as CEO

Virgin Atlantic Airways has appointed Craig Kreeger as its new Chief Executive. He will assume the role on 1st February 2013. He joins from American Airlines (AA), where he has held a 27-year career spanning commercial, financial and strategic roles in the US and around the globe. Kreeger, 53, succeeds current CEO, Steve Ridgway, who is retiring from the airline. Kreeger, a graduate of the University of California in San Diego and with a MBA from UCLA, joined AA in 1985 as an analyst and was appointed Senior Vice President, Customer in 2012. He spent six years in London as Senior Vice President, International and was responsible for AA operations and sales throughout Europe, the Middle East, Africa and the Pacific. He has worked on AA joint ventures with British Airways and Iberia across the Atlantic, as well as its partnership with Japanese Airlines in the Pacific. Last September, Virgin Atlantic announced Steve Ridgway would retire in spring 2013, once a successor was in place. Steve has had a 23-year tenure with Virgin Atlantic and became Chief Executive in 2001. During his time at the airline, Virgin Atlantic has grown from two 747s to a fleet of 40 long haul aircraft, flying six million passengers a year all over the world. Ridgway has been an integral member of the team which has built one of the most coveted brands in aviation and has successfully steered the airline through major global aviation issues including the tragic events of 9/11 and the 2008 Global Financial crisis. Kreeger joins at an exciting time for the airline as Delta Air Lines (NYSE: DAL) and Virgin Atlantic finalise their agreement for a new joint venture that will create an expanded Trans-Atlantic network. This new venture will materially enhance competition between the UK and North America, offering great benefits for customers travelling on those routes...Read More

Qatar Duty Free creates latest dollar millionaire

It was a very Happy New Year for two lucky people when Qatar Duty Free, a subsidiary of Qatar Airways, announced the winners of two exciting draws making someone its latest US$1mn draw, and another the proud owner of a Lexus LX 570. The first draw of the new year conducted within the Qatar Duty Free retail shopping area at Doha International Airport, saw Gopalan Nair Babugopal become the lucky winner of US$1mn. "This is the first time that I have ever won anything. I always buy raffle tickets because I believe in taking chances – looks like it finally paid off!" said the elated Nair. The 44 year-old Safety Officer from Trivandrum, India currently works on a project basis. After 20 years of working in Dubai, he had been transferred to Qatar on a 1 year stint for a new project, and it was during this time that he bought the lucky winning raffle ticket.  His wife Rupa Kurup, was thrilled with the news and couldn’t contain her excitement, "This is due to the luck of our children and will help secure their futures."

Nair is currently residing in India with his wife, 13 year-old daughter, Vaishnavi and 12 year-old son, Vaishnav before he returns to Qatar to start work on another project in March.  The excitement continued when Qatar Duty Free drew the name of Shibin Sasidharan, making him the proud owner of a brand new Lexus LX 570. Qatar Airways Chief Executive Officer Akbar Al Baker congratulated the winners: "I would like to extend a big congratulations to both Nair and Sasidharan on starting 2013 in such an exciting way. Qatar Duty Free has a long history of creating exciting moments for passengers entering the millionaire and luxury car draws." The US Dollar Millionaire raffle was launched in May 2006 giving passengers a great opportunity to win the bumper prize as each draw is made after the 5,000 tickets are sold...Read More

Businesses will monetize information assets, says Gartner

The financial demands of storing and managing big data will lead 30 percent of businesses to directly or indirectly monetize their information assets by trading, bartering or outright selling them by 2016, according to Gartner, Inc. Many enterprises are starting to appreciate the real market value that their harvested information assets have within their own industries or beyond. However, the lack of expertise in handling big data and developing information products will create an opportunity for the growth of specialist intermediaries, acting as information brokers or resellers. The new opportunities for significant information-borne income will lead makers of web-connected products to ensure their offerings collect as much usage, location and system data as possible. To assist in these efforts, Gartner, as part of its "infonomics" research, has developed valuation models that help organizations gauge the potential and realized economic value of their information assets. "Consumers and businesses must recognize that their personal usage, location, profile and activity data has a tangible market value. They should guard it and ensure that when they do share it they receive ample services, products or cash for it," said Mr. Laney. "Businesses monetizing information assets need to be sensitive to the reputational risk of public backlash against such practices, that may in turn lead to a tighter regulatory environment." Recently, for example, the Federal Trade Commission issued subpoenas to major information brokers to disclose how they collect, use and protect personal information. One issue arising from the trend toward monetizing information assets is that traditional database management system and business intelligence products and implementations are not well-suited to sharing data in a subscription-based manner. The implication is that new forms of the technology are emerging — focusing on cloud-based implementations that enable subscriber-based access and restricted access to segments of data. "A nascent crop of shared information hosting services already complements established syndicated data providers, and most vendors have taken steps to cloud-enable their technologies," concluded Mr. Laney.

Dell unveils cloud client computing device

Dell unveiled a solution that extends the value of cloud client computing to the next level, enabling people to manage the increasing convergence of their work lives and personal lives by using a compact, portable device to access not only secured professional assets, but also personal content via the cloud.  The ultra-compact multimedia-capable device, called Dell Wyse"Project Ophelia,"is slightly larger than a USB memory stick and enables users to convert any capable TV or monitor into a functioning interactive personal display device without using a computer, tablet or smartphone.  Today, people are increasingly looking to take and securely access their personal and professional content wherever they go. Despite rapid advances in mobile technology, however, they still face challenges when it comes to securely accessing desired information when they are away from the office.  There is no easy way, for example, to access photos, music or video from a personal cloud or entertainment subscription when away from a PC, smartphone or tablet. Equally, professionals find it difficult to securely access and share work applications, presentations and content if they are away from their usual devices, or worse, if their mobile devices are misplaced or fail during travel.

It is also difficult for IT organizations to enable and manage access to enterprise apps and content for highly mobile users, especially those who may be without their preferred laptop, tablet or smartphone. Built on Dell Wyse software technology already used on millions of devices, Project Ophelia transforms ordinary displays into a window to entertainment, communications and a person’s own personal cloud.  The device also allows business users to instantly turn a display into a flexible, securely managed, communications-enabled thin client for work, demos or presentations. These capabilities are packed into advice barely larger than a USB stick that is self-powered through a monitor and easily fits inside your pocket. The product addresses a variety of uses being fueled by the growing need to access cloud-based apps and resources at any time, or whenever a larger screen high definition digital display provides a superb user experience. Examples include:

• Consumers who desire in-the-moment access to cloud-based games or content but do not have their laptop or tablet in their possession;
• On-line gamers wishing to take advantage of a much larger display for an improved interactive experience;
• Highly mobile professionals who may not have a large display capable device with them; and
• Cloud access providers wishing to provide an attractively priced device included with carrier internet/wireless services...Read More

Iran plans to invest in upstream oil and gas sector: reports

UAE oil storage terminal plans to start operations in 2014: reports

UK house prices rise in December: Halifax

Nokia exceeds previous Q4 2012 outlook for Devices & Services

Nokia provided preliminary information on certain aspects of its fourth quarter 2012 financial performance and also provided preliminary information on its outlook for the first quarter 2013.

• Nokia now estimates that Devices & Services has exceeded expectations and achieved underlying profitability in the fourth quarter 2012.
• Mobile Phones business unit and Lumia portfolio delivered better than expected results; and
• Operating expenses were lower than expected.
• Devices & Services non-IFRS operating margin for the fourth quarter 2012 now expected to be between break even and positive 2 percent.

Seasonality and competitive environment are expected to have a negative impact on the first quarter 2013 underlying profitability for Devices & Services, compared to the fourth quarter 2012. Nokia also estimates that Nokia Siemens Networks has exceeded expectations for the fourth quarter 2012, delivering record underlying profits and a third consecutive quarter of underlying profitability. Strong performance in higher margin product categories and geographic regions; and Better than expected cost management. Nokia Siemens Networks non-IFRS operating margin for the fourth quarter 2012 now expected to be between 13 and 15 percent. Seasonality is expected to have a negative impact on the first quarter 2013 underlying profitability for Nokia Siemens Networks, compared to the fourth quarter 2012...Read More

Switch to Lumia in 2013!...launches full range in Indian market

Sony unveils expansive line-up of new products at CES 2013

At CES 2013, Sony is unveiling an expansive line-up of new products and technologies that span the entire consumer entertainment experience – in or out of the home. Sony’s newest devices offer something for everyone: from Wi-Fi capability, Internet connectivity and easy One-touch function using Near Field Communication (NFC) to HD, 3D, 4K and more. From groundbreaking innovations in smartphones, tablets and PCs to the latest developments in digital imaging and 4K and connected TVs, Sony’s 2013 CES exhibit is built around consumers’ desire for networking and interacting with friends and family across platforms and applications. The emphasis is clearly on connectivity, superb picture and sound quality, and a unique mix of electronics, content and network services. "We have many exciting new products at CES, combining that magical mix of science and wonder, design and function, usefulness and elegance, technology and entertainment content to create an emotional experience that only Sony can deliver," said Kazuo Hirai, President and Chief Executive Officer of Sony Corporation. The new Sony technologies on display at CES are the culmination of years of design and engineering innovation, and they build upon the landmark products that Sony brought to market in the past 12 months, including ground-breaking touchscreen VAIO PCs; a bold entry into 4K televisions with Sony’s largest TV model to date – the BRAVIA 84-inch 4K LED TV and an award-winning line of new digital imaging products. These technologies and more form the cornerstone of the new Sony products at CES, and for 2013...Read More

Sony tries to call up attention to Xperia smartphone: CES

Sony unveils Water Proof and Wire-Free walkman

Samsung estimates record profit in Q4

Samsung Electronics estimates another record quarterly operating profit for the fourth quarter, indicating that the South Korean technology giant continued to benefit from strong demand for its smartphones despite stiff competition and a global patent dispute with rival Apple Inc. Samsung said it expects an operating profit of between KRW8.6 trillion (US$8.1 billion) and KRW9.0 trillion for the three months ended Dec. 31, topping its previous quarterly record of KRW8.1 trillion in the third quarter. It estimates sales of between KRW55 trillion and KRW57 trillion, compared with sales of KRW47.3 trillion a year earlier, Samsung said in a regulatory filing. Samsung's estimates are in line with an average KRW8.8 trillion in operating profit forecast in a Dow Jones Newswires poll of six analysts. The poll estimated Samsung's fourth-quarter sales at KRW56.7 trillion. The world's largest technology manufacturer didn't break down the estimated operating profit figure by business units. Investors will watch for unit performance when the results are issued later this month, chiefly to determine whether the company's mobile unit, its largest by sales, experienced a drop-off in profit. It also didn't give an estimate of its fourth-quarter net profit.

Analysts expect the operating profit margin in Samsung's mobile unit to have fallen slightly in the fourth quarter from 18.8% in the third quarter due to increased marketing expenses and heated competition during the year-end holiday period, traditionally the largest for sales of electronics products. As smartphones become the majority of cellphones sold, prices and profit margins are expected to begin to decline. Investors view Samsung, the biggest seller of cellphones, as a benchmark for the growth of smartphones and the speed at which they will become commoditized. For the fourth quarter company expects Samsung to have shipped 64 million smartphones, up from an estimated 58 million shipped in the third quarter. The company is expected to sell more than 100 million cellphones overall for the latest quarter. Analysts expect Samsung's mobile business to account for around 65% of the company's entire operating profit during the quarter. Among Samsung's other three business divisions consumer electronics, chips and display components its display business is likely to have shown a sharp recovery from operating losses in the year-ago period.

Microsoft to hit Alt, Ctrl, Del on its Messenger service upgrades to Skype

Earlier reports in November hinted at Microsoft’s plans to retire its Live Messenger to give way to Skype. Now, it has been confirmed as Microsoft on Wednesday has sent out emails to all Live Messenger(or simply Messenger) account users to update to Skype by March 15 as it plans to "retire" its Messenger Online Chat in all countries except China. Microsoft in the communication to its messenger users has advised them to update to Skype using the same account before the deadline. "You'll be able to instant message and video chat...just like before, and also discover new ways of staying in touch with Skype on your mobile and tablet," said the Microsoft mail. Skype which was acquired by Microsoft on May 10, 2011 for $8.5bn is an internet telephony and messenger service which has become synonymous with internet based video/audio and text based communication. Founded in 2003 and headquartered in Luxembourg, Skype became a division of Microsoft Corp after the acquisition by Microsoft. The mail which informed the users to update their accounts with Skype also said "On 15th March 2013 we are retiring the existing Messenger service globally (except for mainland China where Messenger will continue to be available) and bringing the great features of Messenger and Skype together. Update to Skype and sign in using a Microsoft Account (same as your Messenger ID) and all your Messenger contacts will be at your fingertips. You’ll be able to instant message and video chat with them just like before, and also discover new ways of staying in touch with Skype on your mobile and tablet."...Read More

Dabangg 2: Fevicol Se, Overall Se

IIFL Rating:

He does well, we must say, in what’s a self-financed debut. So, he deserves to rake in the returns too. Why not? His debut may have been unduly glorified, yet it stands out for the no-nonsense approach and striking innocence, unlike the vain Kundalkars of the industry who churn out squeamish notions of creativity financed by unwary producers from the much hyped offbeat fraternity.

Most notably, Arbaaz steers clear of some stupidity that took centre-stage in the first part – Pandey shooting his own man in a fake encounter, Pandey humiliating his lady love in a police station et al…Instead, he makes Pandey more humane (is it the ‘Being Human’ effect?) , logical and just.

Kanpur is Chulbul Pandey’s new karmbhoomi. Lalgunj is history now. Zandu Balm has made way for Fevicol. Unlike the first part, Pandeyji is well-settled in life – a transformed step dad - step-bro duo and the cherubic homemaker Rajjo by his side. We have new substitutes for the goon gang as well - Bachcha Bhaiyaa (the dependable Prakash Raj) and sons in lieu of Chhedi Singh and company.

Dabangg II is largely monotonous, yet it entertains. Even though Salman Khan gainfully looms large; his support cast gets memorable screen footage (esp. the sweet, adorable cop ‘Choubeji’ and his mouthful of amusing quips) Even the comic fillers – Pandey’s colourful chemistry with his dad and Makhkhi’s Suppandi-like quirks – are in line with the central theme.

Prakash Raj is hugely impressive despite his trivial role. Whoever feels he’s the same baddie in film after film doesn’t know enough about the craft of acting. Just notice how he breathes the character, subtly localising it with a distinct baritone. This way, he doesn’t have to adopt the phoney Bihari accent that so-called accomplished artistes like Nana Patekar, Mohan Joshi and Shivaji Satam mechanically swear by in films with North-Indian milieus. Actors like Prakash Raj deserve many more and far better roles. Hope Bollywood will wake up to this reality some day for its own good.

Most disappointing about this film is the music score. If Sajid-Wajid mesmerised us in Dabangg I, they leave us paralysed us here. Not a single number stays with you the way it did before. Of the whole lot, "Naina Dagabaaz" is the best. If one’s glued to the "Fevicol Se" track, that’s courtesy Kareena Kapoor’s magic as also the miracle adhesive with its "majboot jod".

Salman Khan is of course likeable as ever. At 45 +, he exudes unbelievable charm that will put any young star to same (and we don’t have many). Sadly, the fabulous actor in him pales into insignificance before the luminous star: partly by choice, partly by circumstances. But he doesn’t seem too bothered… Like his illustrious father doesn’t need a Javed Akhtar to vouch for his awesome talent, Salman doesn’t need a Farhan either! Call him pedestrian if you like but he remains a master equestrian.

5 Weekly positional calls

The good news is that finally Infosys has beaten expectations after many quarters of underperformance. The stock saw a splendid rally and triggered buying interest in the tech pack. The indices however had nothing to write about as they remained in a narrow band for most part of the week. Investors have turned expectedly cautious in the result season. Global cues have also not really given reason for an advancement in the indices.

Inflation will be the key event next week, along with the slew of earnings. Global developments will have to be closely watched. The widely tracked WPI is projected to be ~7.37%. Watch out for the core inflation reading, a measure closely followed by the RBI.

Among the companies that will declare their numbers in the coming week include TCS, Axis Bank, Hero Motocorp, ITC and Reliance Inds. The indices may continue to remain in a range even as stock-specific activity will dominate the headlines.

The India Infoline Weekly Wrap keeps you abreast of the markets and arms you for the markets in the coming week. To access the India Infoline Weekly Wrap, just Click Here

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Major Indices	11-Jan-13	04-Jan-13	% Change
BSE Sensex	19,664	19,784	-0.6
NSE Nifty	5,951	6,016	-1.1
Dow Jones*	13,471	13,435	0.3
Nasdaq *	3,122	3,102	0.6
Hang Seng	23,354	23,331	0.1
Nikkei	9,380	10,688	-12.2
Shanghai Comp	2,262	2,277	-0.7
Bovespa (Brazil)*	54,156	62,523	-13.4
* Close as on last Thursday

Major Indices	11-Jan-13	04-Jan-13	% Change
Rupee to Dollar	55.6	55.4	0.4
Rupee to Euro	68.5	68.3	0.4

Major Indices	11-Jan-13	04-Jan-13	% Change
Gold std. (Rs/10gm)	30,560.0	30,362	0.7
Silver (Rs/kg)	57,443.0	55,877	2.8
Crude Oil ($ per barrel)	93.2	90.9	2.6

Leader Speak

Amitabh Mundhra, Director, Simplex Infrastructures Ltd
Replying to Anil Mascarenhas of IIFL, Amitabh Mundhra says, "From a growth perspective, along with housing, urban infrastructure and power, mining will be a key growth area for the Group as a whole."...More

Paritosh K Agarwal, Managing Director, Suryalakshmi Cotton Mills
Speaking with Yash Ved of IIFL, Paritosh K Agarwal says "Exports contribute about 20-25% and rest 75% of revenue comes from domestic market."...More

TV Sandeep Kumar Reddy, Managing Director, Gayatri Projects Ltd
Replying to Yash Ved of IIFL, TV Sandeep Kumar Reddy says, "Our planned capex for the year is Rs493.8mn, most of which will be funded through internal accruals."...More

Christine Lagarde, Managing Director, IMF
Christine Lagarde, Managing Director of the International Monetary Fund, speaks with German weekly Die Zeit about her relationship to Wolfgang Schäuble, lessons from the crisis, and the economic outlook for the coming year...More

S. Jayadeep Reddy, MD & CEO, ehealth Access Private Ltd.
Replying to Anil Mascarenhas of IIFL, Jayadeep Reddy says, "There is a huge gap in patient to doctor ratio in India making it impossible for everyone to have an affordable and easily accessible healthcare."...More

Amit Kulkarni, Director, Varasiddhi Infrastructure
Replying to Yash Ved of IIFL, Amit Kulkarni said "Varasiddhi Infrastructure has total 1.4mn sq.ft. area under development."...More

Ashwani Arora, Jt. Managing Director, LT Foods Ltd
Speaking with Yash Ved of IIFL, Ashwani Arora says, "We enjoy close to 40% market share in branded basmati rice in US."...More

A Prathap Reddy, Chairman and Managing Director, Balaji Amines Ltd
Replying to Yash Ved of IIFL, A Pratap Reddy says, "We are eyeing FY 2012-13 revenue targets approximately at Rs5.20bn - 5.50bn and for 2013-14 is Rs. 6.20bn - 6.50bn."...More

Akbar Al Baker, Chief Executive Officer, Qatar Airways
Replying to Yash Ved of IIFL, Akbar Al Baker says, "The airline plans to serve over 170 destinations worldwide with a fleet of more than 170 aircraft by 2015."...More

Ritu Arora, Director Investment, Canara HSBC Oriental Bank of Commerce Life Insurance
Replying to Anil Mascarenhas of IIFL, Ritu Arora says, "We have done a study looking at equity market return on rolling 15yr blocks since 1991. We had 12 data points and consistently positive CAGR was delivered by Indian markets in each of them."...More

Aditya Bafna, Director, Shree Shubham Logistics
Replying to Yash Ved of IIFL, "We are developing Agri Logistics Parks at 16 locations in the states of MP, Maharashtra, Gujarat and Rajasthan with an investment of around Rs2.70bn."...More

Narasimha Jayakumar, COO, E-commerce for Homeshop18
Replying to Anil Mascarenhas of IIFL, Narasimha Jayakumar, COO, Homeshop18 says, "India is a hot market for e-commerce. West took 50 years to move from mom and pop stores to online stores and virtual environment, India has accomplished this in 2-3 years. We have made extensive preparations for the Google Online Shopping Festival in the last 15 days. As of today, we are prepared to handle 100% increase in traffic and orders."...More

Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon Ltd
Replying to Yash Ved of IIFL, Kiran Mazumdar-Shaw says, "With a number of our biosimilar & novel programs entering the clinics, we have witnessed an upsurge in our Research & development costs, which indicates potential upsides in the long term."...More

Deepak Kaistha, Chief Executive Officer, Planman Media
Replying to Anil Mascarenhas of IIFL, Deepak Kaistha says, "PowerBrands Glam is an amalgamation of a 3-day mélange which will witness the salutation of Indian brands, inspirational leaders and the next generation entrepreneurs who have and continue to shape the contours of our nation."...More

Syed Sultan Ahmed, Managing Director, Edumedia India
Replying to Yash Ved of IIFL, Syed Sultan Ahmed says, "EduMedia wants every child to have access to high quality films and value education content."...More

Mr. Vineet Agarwal, Joint MD, Transport Corporation of India
Replying to Anil Mascarenhas of IIFL, Vineet Agarwal says, "India currently spends 12-13% of its GDP on logistics. TCI is aiming at a 15% compounded annual growth rate for the next four to five years. The major growth has come from the supply chain division and express division."...More

Vibha Padalkar, Executive Director and CFO, HDFC Life
Replying to Yash Ved of IIFL, Vibha Padalkar says, "HDFCSL has done better than many other insurance companies showing the strongest growth trajectory. Our WRP (Individual business) has shown a growth of 10% for the H1FY13."...More

GK Muralikrishna, CEO and Managing Director, helios and matheson
Replying to Yash Ved of IIFL, GK Muralikrishna says "The company is geared to tap this huge market potential and post healthy growth in revenue by building on its inherent strengths."...More

Amit R. Sheth, Managing Director, aurionPro Solutions
Replying to Yash Ved of IIFL, Amit R. Sheth says, "We are seeing traction in new emerging markets like Kenya, Nigeria, Cambodia, Vietnam and Myanmar."...More

Manju Sharma, Director – Operations, Jaypee Hotels
Replying to Yash Ved of IIFL, Manju Sharma says, "We are planning to add around 650 rooms to our new property (upscale business hotel) yet to be launched in Noida very soon."...More

Raymond Bickson, MD & CEO, Indian Hotels Company Limited
Yash Ved of IIFL gives you highlights from a media interaction where Raymond Bickson says "We are planning 13 new hotels and 1521 rooms in 2013-14."...More

Mr. BM Bhorania, Executive Director of Finance, GSFC Ltd.
In an interaction with Anil Mascarenhas and Manu Kaushik of IIFL, Mr. BM Bhorania says, "The capex for Dahej plant will be huge; it would be too early to quantify the same. Yet, I would estimate it would be in the range of Rs.80bn for the four units put together."...More

Vaidya Nathan, CEO and Founder, Classle Knowledge Private Ltd
Replying to Anil Mascarenhas of IIFL, Vaidya Nathan says, "Classle would do for Education and Learning what Google did to organize information and Facebook did for relationships and communication."...More

Yogesh Tiwari, Vice President – Sales & Marketing, Blackberrys
Replying to Anil Mascarenhas of IIFL, Yogesh Tiwari says, "Today, all norms in dressing up are being challenged and the consumer is constantly pushing the envelope – therefore formal wear is getting more dressed up and fun elements are creeping into plain staid formalwear."...More 

Dr. Sreeni Tripuraneni, Chairman & CEO, 4G Identity Solutions
Replying to Yash Ved of IIFL, Dr. Sreeni Tripuraneni said "4Gid has an order book of more than 2bn to be executed in next 12 months."...More

H.A. Mishra, Chairman & MD, Foodesign Hospitality Systems
Replying to Yash Ved of IIFL, HA Mishra says, "FHS has embarked on an aggressive growth trajectory and will soon be launching some of the most advanced and innovative services in the area of F&B Cost Management."...More

Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd
Replying to Yash Ved of IIFL, Sajjan Bhajanka says "We are eyeing Rs20bn revenue target for FY13."...More

Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties
Yash Ved of IIFL provides you the media reaction where Mr. Pirojsha Godrej says "We continue to build strong development pipeline in high growth markets and added two projects with 3.69 million sq. ft. of saleable area in Q2 FY2013."...More

Mr. Alok Sanghi, Director, Sanghi Industries Ltd.
Replying to Anil Mascarenhas of IIFL, Alok Sanghi says, "We reported a net profit of Rs.181.8mn for the first quarter ended September 30, 2012 as against a net loss of Rs.373.5mn in Q1 of previous fiscal. The infrastructure spending will increase, leading to demand growth and stable prices for the cement sector."...More

S Ganesh, CEO, D&B Analytics and Decision Services Limited
Replying to Anil Mascarenhas of IIFL, S Ganesh says, "We convert raw data and information into insights and actionable intelligence. Currently there are some opportunities emerging in verticals like telecom, healthcare, and retail as these industries are also very data intensive and use similar principles to expand their customer base and profitability."...More

NV Subramanian, Co-founder, Sharedcab.com
Replying to Anil Mascarenhas of IIFL, NV Subramanian says, "We aggregate demand for regular daily point to point travel from end consumers and pool them into an AC shared taxi. We're targeting a revenue of Rs.150mn in the 1st year."...More

Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbines Ltd
Yash Ved of IIFL gives you the highlights of the conference call conducted by Triveni Turbines Ltd after its latest quarterly results where Dhruv M. Sawhney says "Our domestic market order intake continues to improve in Q3 and Q4."...More

Sonya Hooja, Co-founder & Director, Imarticus Learning
Replying to Anil Mascarenhas of IIFL, Sonya Hooja says, "The business model of Imarticus learning is based on two pillars – first one being students and candidates who are looking to begin their career in IB."...More

Suresh Rao, Faculty and Senior Admissions Officer, Imarticus
Replying to Anil Mascarenhas of IIFL, Suresh Rao says, "One of my drivers is to inspire the youth and give them the extra edge through teaching, mentoring & help them succeed."...More

Gaurav Vora, Director, Dynaflex Private Ltd
Speaking with Yash Ved of IIFL, Gaurav Vora says "We are planning to invest US$5mn and will be raising the amount via debt and internal accruals."...More

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited
Yash Ved of IIFL gives you the highlights of the conference call conducted by Oberoi Realty Ltd. after its latest quarterly results where Vikas Oberoi says, "Going forward, we expect residential market to do well. There have been few changes in FSI norms. The new regime will benefit developers."...More

Vineet Nayar, Vice Chairman and CEO, HCL Technologies Ltd
Yash Ved of IIFL provides you the media interaction where Vineet Nayar says "We see significant opportunity because of contract renewal in America and Europe."...More

Rostow Ravanan, Co-founder and Chief Financial Officer, Mindtree
Speaking with Yash Ved of IIFL, Rostow Ravanan says "We have lowered revenue growth guidance to below 11% for the current financial year, from 11%-14% sales outlook."...More

Arun Balakrishnan, CEO, BerkshireInsurance.com India
Speaking with Anil Mascarenhas and Yash Ved of IIFL, Arun Balakrishnan says "Little knowledge can be dangerous and unfortunately what insurance buyers are doing is that they are comparing just the premium."...More

The myth of affordable energy: Ed Dolan
"The US economy is still 15 percent less energy efficient than the average for high-income OECD countries, giving it plenty of room to improve. Switzerland is almost twice as energy-efficient as the US, and the UK is 68 percent more efficient,"...More

Dr Som Majumdar, Director, International Business, KadenBoriss Lawyers
Dr Som Majumdar tells Dolly Mirchandani of IIFL that, "Unless sold, service does not come up to the fore. Again, unless service is given to the satisfaction of customers, ‘sell’ may not be effected next time."...More

RK Jain, Group President - (Corporate Finance and Strategies) Uflex Ltd
In an interaction with Anil Mascarenhas of IIFL, RK Jain says, "Uflex is the only integrated unit of its kind in the world with flexible packaging at its core and focused on innovation."...More

RC Baid, Chairman & Chief Mentor, Siddhi Vinayak Logistics Ltd
Replying to Anil Mascarenhas of IIFL, RC Baid says, "Implementation of GST will give more teeth to the road transport industry and will give it a new platform to further develop logistics concepts."...More

Mr. Rajesh Aggarwal, Managing Director, Insecticides India Ltd
Replying to Anil Mascarenhas of IIFL, Rajesh Aggarwal says, "Statistically organic farming is giving below average results and also the quality for crop suffers. We would invest about Rs1bn in the next 2-3 years and as far as funding plan is concerned we are open and have not zeroed on any one."...More

Shyam Sunder B K, Chief Designer, Industrial Design – Tata Elxsi, India
Replying to Anil Mascarenhas of IIFL, Shyam Sunder says, "Consumers have evolved from simply buying things off the shelf to studying the physical attributes or attractiveness of the container vis-à-vis understanding how a particular product can add value to their purchase."...More

Dr. Ganesh Natarajan, Vice Chairman and CEO, Zensar Technologies
Speaking with Yash Ved of IIFL, Dr. Ganesh Natarajan says "The Company is looking for acquisitions in Europe with a deal size of approximately USUS$20-25mn."...More

Sanjay Monga, Country Manager – India, Asian Panaria
Replying to Yash Ved of IIFL, Sanjay Monga says "Bellissimo plans to invest Rs. 1bn over the next 3-5 years in manufacturing as well as setting up a nation-wide distribution network for luxury tiles."...More

Suman Bose, Managing Director & CEO, Siemens Industry Software
Replying to Anil Mascarenhas of IIFL, Suman Bose says, "The ‘Curiosity’ landing on Mars was one of the toughest engineering challenges ever attempted, and we are proud to be associated with this project."...More

Mr. Devendra Shah, Chairman & Managing Director, Parag Milk Foods
In an exclusive interaction with Hemant P. Maradia of IIFL, Mr. Devendra Shah says: "We hold 1% market share in dairy products but we have a higher market share in value-added milk products."...More

Rajiv Sawhney, CEO & MD, Mahindra Holidays & Resorts India Ltd
Speaking with Yash Ved of IIFL, Rajiv Sawhney says "The growing leisure travel market is seeing newer demands and trends, more discerning consumers insisting on quality, value and differentiated experiences."...More

Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd
Replying to Yash Ved of IIFL, Dhaval Ajmera says "We are planning to invest Rs10bn in the real estate and power sectors in the next five years even as it is looking at exciting, some of its non- core assets including cement business and a land parcel in Bahrain."...More

Saleem Mohammed, PhD, CEO and Co-founder, XCODE Life Sciences
Replying to Anil Mascarenhas of IIFL, Saleem Mohammed says, "Understanding how your personal genetic code influences and affects your health and well being is critical for better health."...More

H.E. Elizabeth Thabethe, Deputy Minister for Trade and Commerce, Republic of South Africa
Speaking with Yash Ved of IIFL, H.E. Elizabeth Thabethe says, "Our primary motive behind India visit is to observe and understand Indian practices in enterprise development, SME support and industrial expansion."...More

Mr. Pratip Chaudhuri, Chairman, State Bank of India
Yash Ved of IIFL brings you SBI’s latest media interaction, where Mr. Chaudhuri said "The objective of the lending rate cut is to improve demand for assets which in our view could have a positive cascading effect on related industries."...More

Harshil Mehta, Chief Executive Officer, Aadhar Housing Finance
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Harshil Mehta says, "On a quarter-on-quarter basis, our loan book has been growing at the rate of 15% to 30%."...More

Mr. Pankaj Seth, Managing Director, Orbit Exports Ltd.
Speaking with Yash Ved of IIFL, Mr. Pankaj Seth says, "Our plans include expanding into the fabrics business. We are also planning to acquire brands overseas."...More

Prashant Saha, Managing Director, CIMGLOBAL
Replying to Anil Mascarenhas of IIFL, Prashant Saha says, "CIMGLOBAL realizes that India is certainly short of quality convention/expo venues, resulting in its failure in attracting large conventions and expo businesses to India."...More

Prasad Shejale, Co-founder & CEO (India), Logicserve Group
Replying to Anil Mascarenhas of IIFL, Prasad Shejale says, "Our USP lies in our strong technology background along with success stories in the UK and European market."...More

N. Chandramouli, CEO, Comniscient Group
Replying to Anil Mascarenhas of IIFL, N. Chandramouli says, "Mahatma Gandhi summarized this Brand tenet succinctly in his statement "Be the change you want to see." In communication terms this can be restated as "Be as you want to be seen."...More

Mr. Mushtaq Ahmad, Chairman & CEO of Jammu & Kashmir Bank
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Mushtaq Ahmad says, "The Bank targets a credit growth of over 25% and deposit growth of over 17-18% for FY13."...More

VA George, President & CEO, Thejo Engineering
Replying to Yash Ved of IIFL, V. A. George says "The domestic market has shown commendable growth with many projects coming up in mining, steel, power and ports sector."...More

Ninad Karpe, MD & CEO, Aptech Ltd
Ninad Kapre replies to Anil Mascarenhas of IIFL and says, "Every testing requirement is an opportunity. However, reach, infrastructure, connectivity and computer literacy can be some challenges."...More

Sajjan Jindal, Chairman and Managing Director, JSW Steel
Yash Ved of IIFL gives you highlights from a media interaction where SAJJAN JINDAL says "The merger completes the integration and aims to capture full value of the combination."...More

Mr. Beas Dev Ralhan, Chief Executive Officer, Next Education
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Beas Dev Ralhan says, "The company did Rs. 1bn in revenues last year and will do close to Rs. 2bn this year."...More

Deepinder Goyal, Founder & CEO, Zomato
Replying to Anil Mascarenhas of IIFL, Deepinder Goyal says, "Over 4 million Zomato users come to the website every month to search places for dining out, home delivery, catching up or nightlife."...More

Anand Nichani, Director, Polyflex
Replying to Anil Mascarenhas of IIFL, Anand Nichani says, "According to recent studies branded mattress market is approx USUS$200mn out of which luxury is about 2-3 %. We have a mattress for every possible sleeping need."...More

Antony Jacob, CEO, Apollo Munich Health Insurance Company Limited
Replying to Yash Ved of IIFL, Antony Jacob says "The Indian health insurance market is one of the fastest growing portfolios among the non-life insurance category, but still is significantly under-penetrated in comparison with other countries."...More

Mr. Prashanth Prakash, Partner, Accel Partners
In an exclusive interview with Hemant P. Maradia of IIFL, Mr. Prashanth Prakash says, "We continue to believe that there are great opportunities in a broad range of Internet led technologies businesses from Online Media to Saas."...More

Mr. Mahesh R. Shetty, CMD, MT Educare Ltd.
Speaking with Hemant P. Maradia of IIFL, Mr. Shetty says, "Spend on the Education sector is increasing. Almost a third of the income of middle-class families is going into Education."...More

Mr. Rajesh R. Gandhi, Managing Director, Vadilal Industries Ltd.
Replying to Anil Mascarenhas of IIFL, Rajesh Gandhi says, "With the unorganized market covering a large chunk (60%) of the Indian ice cream market and already crowded organized sector, all the big and small brands have to provide myriad choices to consumers."...More

Mr. Gaurav Modwel, CEO, Wadhawan Holdings Pvt. Ltd.
In an exclusive interview with Hemant P. Maradia of IIFL, Mr. Gaurav Modwel says, "We are expecting to turn profitable around the third year of the Sri Lanka Premier League (SLPL)."...More

Ashok Chhajer, Chairman, Arihant Superstructures Ltd.
Replying to Yash Ved of IIFL, Ashok Chhajer says, "We expect the turnover and PAT to increase at a CAGR of 50% and 60%, respectively for the next 6-7 years."...More

Mr. Rahul Bajaj, Chairman, Bajaj Auto Ltd.
Yash Ved of IIFL gives you highlights from CII marketing summit, where Mr. Rahul Bajaj said, "Bajaj Auto has been a value for money brand"...More

Nikhil Kumar, Joint Managing Director, TD Power Systems Limited
"While we remain confident about the longer term prospects for our business, near-term visibility remains uncertain," said Nikhil Kumar during conference call...More

Austin Coutinho, Author, The Games
Replying to Anil Mascarenhas of IIFL, Austin Coutinho says, "In cricket there is a lot of commitment from all concerned - administrators, players, coaches etc. Sponsors are ready to put in money because of the commitment. Other sports are far behind in this aspect."...More

Mohit Modi, Director - Equity Research, CRISIL Limited
Replying to Anil Mascarenhas of IIFL, Mohit Modi says, "Retail investors should look at three things before investing in stocks – fundamentals of the company, valuation levels and their risk appetite. Investments in equity markets depend on one’s risk appetite."...More

Chanda Kochhar, Managing Director and CEO, ICICI Bank
Recognized as one of the most powerful women in the world, the 50-year-old banker, wife and mother-of-two weighs in on whether women really can "have it all" and explains why she leaves her womanhood at the office door...More

David Gerald, Founder, President & CEO, Securities Investors Association (Singapore)
In an exclusive interaction with Dolly Mirchandani of IIFL, David Gerald stresses, "Investor associations—like ours—play an important role in educating investors. But you cannot be the only organisation working for investor improvement; there has to be corporations, stock exchange and regulators who should also educate investors at a national level."...More

Hari Prakash Pandey, VP-Finance, Housing Development & Infrastructure Limited
"We are expecting better demand for the residential segment over the next three to six months despite slack macro economic conditions." said Hari Prakash Pandey...More

Manju Yagnik, Vice-Chairperson, Nahar Group
Replying to Yash Ved of IIFL, Manju Yagnik says "The ever increasing demand for all realty segments in the country, which is outstripping its supply, signals a rosy outlook for the country’s real estate sector."...More

Uma Shashikant, Managing Director, CIEL
Reaching investors in a country geographically large and diverse like India requires serious investment of capital, expertise and time. Uma Shashikant tells Dolly Mirchandani of IIFL that "We need a national policy and an implementation program. CIEL is keen to drive such an initiative and will happily bring in content expertise and drive the program."...More

Karan Kapur, Executive Director, Travel Food Services
Replying to Anil Mascarenhas of IIFL, Karan Kapur says, "We currently run over 100 locations in the travel sector and work with some of the best national and international brands and are open to financial partners should any significant synergy opportunities exist."...More

Raymond Bickson, MD & CEO, Indian Hotels Company Limited
Yash Ved of IIFL gives you highlights from a media interaction where Raymond Bickson says "We are planning 16 new hotels and 2000 rooms for FY13."...More

Mr. Rajiv Sabharwal, Executive Director, ICICI Bank
Replying to Anil Mascarenhas of IIFL, Mr. Rajiv Sabharwal says, "New avenues of business generation, as shopping and other merchant payment solutions options, do show early potential to bring a sea-change in banking business."...More

Suresh K, Chief Financial Officer, Brigade Enterprises Ltd
Speaking with Yash Ved of IIFL, Suresh K says "The prices in Bangalore are not high as compared to other cities. We expect prices to be stable in the Bangalore market"...More

Shashank Joshi, Managing Director, Money-On-Mobile (MOM)
Replying to Divya Kurup of IIFL, Shashank Joshi says, "MOM has successfully got 500,000 subscribers on board and touches a daily transaction volume of Rs. 20 million."...More

Kunal Premnarayen, Group CEO, ICS Group
Replying to Anil Mascarenhas of IIFL, Kunal Premnarayen says, "Over the last decade ICS, in conjunction with its various international partners, has launched complementing businesses in the real estate and financial sector."...More

Paresh Sukthankar, Executive Director, HDFC Bank
Yash Ved of IIFL provides the highlights of a media interaction where Paresh Sukthankar says "We continue to invest in technologies, in terms of new channels including social Media"...More

Lata Gwalani, Author, INCOGNITO
Replying to Anil Mascarenhas of IIFL, Lata Gwalani says, "Unrequited love, emptiness, lack of meaning in life…all these form the basis of my book."...More

A. R. Ramakrishnan, Managing Director and Director, Essar Shipping Limited
"The outlook for the shipping industry is that pressure will continue for several months" said A. R. Ramakrishnan...More

Suhale Kapoor, Executive Vice President and Co-founder, AbsolutData
Replying to Anil Mascarenhas of IIFL, Suhale Kapoor says, "The need for using Analytics varies in developed and emerging economies….in emerging economies marketers use analytics for foundational marketing techniques like targeting the right customer and customer segmentation."...More

P Ravindra Pai, Managing Director, Century Real Estate
Replying to Yash Ved of IIFL, P Ravindra Pai says "Our residential portfolio by the end of this financial year will be totaling 4 million sq ft."...More

Jayont R. Sharma, Founder Chairman and CEO, Milestone Interactive Group
Replying to Anil Mascarenhas of IIFL, Jayont Sharma says, "Introduction of 3G and telco’s focus on Value Added Services are expected to lead to exponential growth for mobile gaming in India."...More

Read More Leader Speak...

Industry Newsletters

Agriculture Newsletter - December 31, 2012 to January 04, 2013

Automobile Newsletter - December 31, 2012 to January 04, 2013

Aviation Newsletter - December 31, 2012 to January 04, 2013

Consumer Goods Newsletter - December 31, 2012 to January 04, 2013

Economy Round Up - December 31, 2012 to January 04, 2013

FLAME Newsletter - January 09, 2013

Hotel & Tourism Newsletter - December 31, 2012 to January 04, 2013

Infrastructure Newsletter - December 31, 2012 to January 04, 2013

Insurance Newsletter - January 03, to January 09, 2013

IT Newsletter - December 31, 2012 to January 04, 2013

Metal & Mining Newsletter - December 31, 2012 to January 04, 2013

Merger & Acquisition Round Up - December 31, 2012 to January 04, 2013

Oil & Gas Round Up - December 31, 2012 to January 04, 2013

Pharmaceuticals Newsletter - December 31, 2012 to January 04, 2013

Real Estate Round Up - December 31, 2012 to January 04, 2013

Retail Newsletter - December 31, 2012 to January 04, 2013

Telecom Newsletter - December 31, 2012 to January 04, 2013 

New career trends in 2013: Aspire Human Capital
Last year saw jobs primarily in sectors like healthcare, hospitality and IT/ITES. Apart from these, the other sectors involved in the process of in hiring were non-machinery manufacturing, media and entertainment...More

Know more about car insurance policy & online renewal
Comprehensive policy is optional. However, third-party insurance is mandatory for your car...More

Introduction to Rajiv Gandhi Equity Savings Scheme, 2012
You can invest any amount up to Rs. 50,000 for availing tax benefits in RGESS...More

Money for Nothin’ writing checks for free: Bill Gross
These weren’t Bernanke innovations – nor was the term QE. Many of them had been applied by policy authorities in the late 1930s and ‘40s as well as Japan in recent years...More

Insurance glossary
Know the terms commonly associated with your insurance policies...More

Some little known facts about NPS & NPS Lite
While central and state government employees have to subscribe mandatorily, National Pension System is optional for others. We suggest you understand the benefits of NPS and NPS Lite...More

Tax planning through Muslim Wills
If the marriage between Muslims is registered under the Special Marriage Act, then the provisions of Indian Succession Act would apply and they may make a Will bequeathing their property to any person in any manner and absolutely no restrictions are placed...More

Zero depreciation cover for vehicle insurance
A zero depreciation cover ensures that in case of an accident, you will receive the full claim without any deduction for depreciation on the value of the parts replaced...More

10 commandments on mutual fund investing
A MF NAV is neither too costly nor cheap because a MF unit can’t be costly or cheap. It derives its value from the underlying investment. If the value of the underlying investment goes up, then the NAV will go up and vice versa...More

Damaged or lost? Steps to get a duplicate insurance policy
Read on to know what you need to do to prevent yourself from a financial loss in case you have lost or misplaced insurance policy...More

Health Insurance vs (HospiCase+Surgi+Criticare Plans)
Health insurance is important for the fact that there is been huge cost increase in medical treatments. Health care has increased due to medicine becoming more sophisticated...More

What is mutual fund benchmark & its importance
A scheme’s benchmark is an index that is decided by its fund house to serve as a standard for the scheme’s returns...More

What does your MF account statement include?
A MF account statement offers all transaction details carried out within a defined time period...More

Importance of receiving ITR-V acknowledgement
If you have filed your return online ‘without adding digital signature’, then the process of e-filing is not complete...More

Options to invest in gold
The benefit of long-term capital gains tax is only available after three years in e-gold, unlike gold ETFs and gold fund of funds, where the same is available after one year. Also, like in physical gold, investors are liable to pay wealth tax in case of e-gold...More

Online term plans: Look beyond the price
Online term plans offer you a high cover at minimal cost. Rather than only concentrating on the price, be smart and look beyond the price while choosing your policy!...More

Tax saving instruments: Much more than saving taxes
One must realise that tax saving instruments do much more than only saving taxes. Smart planning with right tax saving instruments adds value to a portfolio. So take a wiser approach and avoid last minute rush for tax saving...More

The fund that protects you from all investment robbers
Never mistake saving for investments otherwise you will be in for a rude shock. You would probably be living in a big delusion because you don’t understand the rules of money...More

Getting acquainted with fixed income ETFs
Fixed income ETFs basically provide regular income, such as interest payments from bonds and dividend payments from stocks...More

Tax planning for your income from house property
The income from a self-occupied property will always be zero or negative—to the extent of interest paid or the specified limit, whichever is lower...More

Micro insurance: Securing the future of low income group
Micro insurance is a kind of a financial service package for poor people that covers their risks by paying a small amount of premium on regular basis...More

Do you know about some unusual insurance policies?
These are unique insurance covers designed for specific individuals and are usually rare...More

Banking Ombudsman: Redressal for customer complaints against banks
The main object of the complaint is to get resolved your problem as earliest. So it is most important to make complaint to appropriate person who will resolve your problem effectively...More

How to file vehicle insurance claims
Increasing number of accidents and incidents of vehicle thefts has made it essential for policyholders to know how to file car insurance claims...More

Protect your property from loss due to fire
In order to get full protection for your property, insurance on reinstatement (replacement) basis is recommende...More

What do employers look for in a candidate?
Integrity is the top most priority for any employer while hiring new hire. No Company will ever compromise on the Integrity factor even if you are the most talented and apt person for the role...More

Political resistance to reforms is big risk factor for Indian economy and asset markets
The ability of the Government to push other financial and non-financial reforms is in serious doubt...More

Know more about home insurance
While buying an online home insurance plan, you need to read the fine print carefully. Make an analysis of what is covered and what is not covered under the policy...More

Online term plan: Simple & cost-effective way to buy insurance
While buying an online term plan, you need to read the fine print carefully. Make an analysis of what is covered and what is not covered under the policy...More

Claiming benefits under EPF & EPS
PF provides various benefits such as pension, loan facility, withdrawal, nomination, etc. However, some of us won’t be aware of the different forms which we need to fill while availing these benefits...More

EDLI: Insurance benefit to employees
Employees’ Deposit Linked Insurance scheme provides for a lump sum payment to the insured’s nominated beneficiary in the event of death due to natural causes, illness or accident..More

An overview of the Australian insurance market
In the international political platform, there is an evidence of increased harmonisation, standardisation and globalisation of the insurance market that provides a fuel for growth within the sector...More

In-person verification for investment in ‘new’ mutual funds
If you have already invested in any particular fund house and now wish to invest in another fund house where you have not invested before January 1, 2012, then you will have to complete the KYC formalities again by filling up the new KYC form implemented after January 1, 2012...More

Tax provisions for investment in mutual funds
Debt MFs have a differential tax treatment compared to equity. While dividends are tax free for equity schemes, they are taxed in debt funds through dividend distribution tax. Similarly, there is no tax on long term capital gains in equity while same is taxed in debt MFs...More

Investors are biggest sufferers of frauds
Fraudulent documentation, multiple funding, non-existence of collaterals and siphoning of funds are some of the areas in which banks have witnessed major incidents of fraud, says Ernst & Young’s India Fraud Indicator report...More

Investing in equity: Common stocks, common mistakes
Many a times, individual rational intelligent persons commit simple mistakes while making investment decisions in common stocks. And market has its own method of finding and exploiting human weaknesses. Mehrab Irani explains some of the most common mistakes which investors commit while investing in common stocks...More

Little known facts about EPF & EPS
EPF withdrawal is not permitted if you are still working. But there are occasions when EPF withdrawal is allowed...More

World Savings Day

World Savings Day or World Thrift Day was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress...More

The A-Z syndrome of NRI taxation
Taxable income of NRI is calculated in the same way as that of resident Indians. The only difference is that a resident Indian is also being charged on the global income, whereas an NRI is being charged only on Indian income...More

NPS Lite: Ensuring old age income for all
NPS Lite aims at ensuring a pension of at least Rs. 1,000 per month based on your contributions and government support under Swavalamban Scheme...More

Simple & safe way to invest in equity
Treat equity investment as a long term one for 10-15 years like your insurance or PPF (or at least as your 5-yr NSC) and you will most probably end up with very good returns...More

XIRR: How to calculate your returns
XIRR is a more powerful function in Excel for calculating annualized yield for a schedule of cash flows occurring at irregular periods...More

Importance of paying premium on time
Remember, if you don’t pay premium every year for five years, there will be a discontinuance charge. Discontinuance charge will not apply to single premium policies...More

What is IRR & how to calculate it?
The internal rate of return is usually used to calculate the profitability of investments made in a financial product or projects...More

Lost share certificate: Steps you should take for issue of duplicate certificates
Read on to know what you need to do to prevent yourself from a financial loss in case you have lost or misplaced your physical share certificate...More

Compounding vs annualised yield
Financial terms are usually difficult for lay investors to understand. It is important for investors to understand these some of these basic terms before investing, Sanjay Matai elaborates...More

What is stamp duty & why to pay it?
Possession is the physical transfer of the property is not sufficient. You also need to have legal ownership. At the time of registration, you will also have to pay a stamp duty which is a government tax levied on property transactions...More

What is a rider?
Riders cover risks that are beyond the scope of the main life policy, resulting in a more comprehensive protection...More

Group personal accident insurance policy
The key benefit of GPA insurance policy is that it provides compensation in the event of death or disability of an insured employee directly due to accident...More

Group term insurance plan
Group term plan provides the employees of a company / firm with a life insurance plan so that their families’ needs are looked after in case an employee dies in an unfortunate event...More

Financial planning for the youth of India
Make sure you start your life after studies on the right financial foot by treating your financial future seriously while you’re still in college, Madhu Sinha explains...More

Hospital Cash vs health insurance policies
While buying daily hospitalisation cash plan, you need to keep an eye on sub-limits, particularly the ones specifying the maximum number of days spent for hospitalisation in a year...More

Terms commonly used in health insurance plan
It serves as a dictionary to help you understand common terms used in health insurance....More

Basic things to check before opening bank savings account
Savings bank account is safe and highly liquid. Besides, we also earn nominal interest on the money saved in our account...More

Beware of the insurance terminology
The wording of insurance contracts is normally difficult for a lay person to understand. Insurers need to make contracts and communication easier for policyholders, Sanjay Matai explains...More

Partners can get depreciation benefits against income
Partners of firms can consider claiming depreciation on assets—in their personal name and used for the firm’s business—against the remuneration and interest income from their firms, Arvind Rao explains...More

Preparing for financial issues after death of spouse
It is important for the individual handling this entire job to not let emotions influence any decision making and a qualified professional can be of immense help in this context, Arvind Rao points out...More

Which one to choose: Growth or dividend option?
In case of growth and dividend payout, number of units remains the same. If your goal is to build wealth to meet your long-term financial goals, then growth option would be the right choice...More

Consumer price index - Measurement rate of inflation
CPI shows increase of prices over a period for certain items of consumption of goods & services. GR Thengdi highlights the factors that are responsible for inflation & effect of inflation on expenditure & saving in next 10 years...More

Know more about health insurance
With medical costs growing at over 10% for four years in a row, the burden of healthcare has become increasingly heavy on the middle class...More

Payment Gateway Systems - Alternative to MasterCard & Visa
Various countries have started opting for alternative payment gateway systems to MasterCard and Visa to save on foreign exchange and transaction costs. In this article Navneet Saxena discusses two of them...More

Myths about financial planning
Financial planning is a strategic and systematic exercise to achieve one’s financial goals, Varun Jani says...More

Simple strategies for investing success
Information empowers you and gives you the extra edge while making investment decisions, Harshendu Bindal explains...More

Importance of life insurance for NRIs
It is also imperative to provide for long term security and achieve financial goals for you and your dependents...More

MWP Act: Make sure your dependents get insurance policy proceeds
To cover your life insurance policy under MWP Act is very simple and inexpensive procedure...More

Check your EPF balance online with e-passbook
E-passbook allows EPF members to download their e-passbook multiple times in a month...More

Stamp duty on transfer of shares
Transfer of shares implies transfer of ownership of shares. In this article, GS Rao points out the provisions of Stamp Act as well as Companies Act...More

What you should know before you sign on for a health insurance policy
Health insurance plays a pivotal role in combating the battle of finances, in case of unforeseen events...More

Are you ‘minding’ your ‘gap’?
Buying life insurance young always makes sense. They not only get it at a cheaper premium but will also imbibe the habit of thrift or regular forced saving, which is so essential for building a good financial plan, Vijay Sinha highlights...More

Common health insurance mistakes
When you are buying a health insurance policy, evaluate what you need and how much risk you can afford to take so that you will not be over/under insured...More

Smoking and term insurance
If your insurer labels you as a smoker, it places you in the smoker risk category. This means your premium will be higher than it is for nonsmokers...More 

Financial advisors: Scripting the future of wealth creation for Indians
Why financial advisors are best suited to guide Indians in their wealth creation journey in a professional manner, Vikaas Sachdeva explains...More

A few steps to ensure that your insurance claim is not rejected
Check all the details on the proposal form thoroughly before you affix your signature on the form, S Mahesh emphasises...More 

Bloomberg TV Autocar India Awards 2013 salutes Indian Automotive Industry
Bloomberg TV Autocar India Awards 2013’ at a glittering ceremony in Mumbai. A total of 21 awards were given away across two and four wheeler segments...More

Switch to Lumia in 2013!...launches full range in Indian market
The Nokia Lumia 920 and Nokia Lumia 820 will be available in select retail stores across key cities starting Jan 11, 2013, while the Nokia Lumia 620 will start retailing in early February, 2013...More

I can never compete with Mr. Bachchan: Aamir Khan
The Shahenshah of Hindi cinema, Amitabh Bachchan and the reigning Khan of Bollywood, Aamir Khan have always admired each other’s personalities, work ethic and ability to be an all-rounder...More

Lenovo launches ultra-portable A2107 tablet in India
The specifications of the Lenovo A2107 include an 8-hour battery life, 16GB of inbuilt memory, and an internal roll cage to protect against damage if dropped...More

BMW's MINI...302 cars delivered in 2012
MINI’s innovative profile has enabled the brand to win over a trend-conscious and quality-oriented target group. Philipp von Sahr, President, BMW Group India...More

India Yamaha Motor launches new color Variants of R15 version 2.0
Roy Kurian, National Business Head, India Yamaha Motor said, Since its launch the R15 version 2.0 has gained immense popularity...More

Salora unveils PowerMaxx revolutionary smartphone
The smart phone is capable of supporting 22 hrs of 3G talk time, 42 hrs of playing music, 10 hrs of playing video, 11 hrs of 3G networking & 13 hrs of Wi- Fi usage, placing it a notch above the rest...More

Zomato starts 2013 by entering European market
Continuing its aggressive international expansion, Zomato has now entered Europe with London as its first market in the continent...More

Switzerland Tourism celebrates 2013 as year of Living Traditions
The diverse linguistic, culinary, architectural and musical traditions shape the Swiss culture in different parts of the country...More

Jaypee Punjab Warriors commits to uplift Punjab Hockey
There are 5 teams taking part in the league -- Mumbai Magicians, Delhi Wave Riders, Ranchi Rhinos , and Uttar Pradesh Wizards – besides Punjab Warriors who will play the first match against Delhi in Delhi on January 14...More

Amity organizes INSPIRE Internship Program
The camp will cover areas of natural sciences, with emphasis on interdisciplinary aspects. Students will be introduced to unknown domains of science going beyond known and factual knowledge...More

DLF launches first multibrand store in Mumbai at Neptune Magnet mall
Surjit Singh Rajpurohit, CEO, Neptune Magnet mall said, We are extremely happy to introduce DLF Brands to Mumbai through Neptune Magnet mall...More

Qatar Duty Free creates latest dollar millionaire
The first draw of the new year conducted within the Qatar Duty Free retail shopping area at Doha International Airport, saw Gopalan Nair Babugopal become the lucky winner of US$1mn...More

Discovery HD World presents Nature's Keepers
The series also profiles individuals who are racing against time to protect Earth's delicate ecosystems...More

HP launches new range of document management scanners
Nitin Hiranandani, Director Printing, HP PPS India said, Large enterprises looking to reduce costs and improve operational efficiencies are increasingly turning to document management solutions to help move from paper-based systems to paperless, electronic workflows...More

L H Hiranandani Hospital and Rotary Club hosts ‘Run Powai Run’
There has also been a significant rise in the number of cardiac related and other lifestyle diseases in Mumbai...More

GE Healthcare unveils Digital Broadband 1.5T, 16 Channel MRI system
Optima MR360 Advance provides high definition image quality and addresses the demand for increased patient comfort, increased productivity, and reduced total cost of ownership under GE’s guiding principle of Humanizing MR...More

Sony unveils Water Proof and Wire-Free walkman
The NWZ-W270 Walkman Sports MP3 Player withstands not just water but the sweat from intense workouts, making it perfect for everyone from the health conscious to performance sports athletes...More

Huawei launches MiFi and Wi Fi datacards
The Huawei E3131 Soft Wi-Fi data card comes with a feature of offering Wi-Fi Hotspot, a software solution for computers to share the internet connection with other device(s) via Wi-Fi...More

Mumbai Jewellery & Gem Fair organises by UBM
The brands displayed are well-recognized and enjoy the haute-couture status in the industry and are also featured in the Style Statement Coffee Table Book...More

Tanishq offers sparkling discounts on diamond jewellery
Further, there is a flat 20% off on purchase of single diamond jewellery worth Rs. 2 lakhs and above...More

Crime Patrol brings Special episode on Delhi Gang rape case
One fine evening, she and her friend boarded a private bus, thinking it was a public bus. The only other passengers were five men who were friends of the driver, who then assaulted the pair...More

Other Lifestyle News 

Indian visitors shows highest intention to visit Australia for a holiday: research

BMW is partnering with Kochi-Muziris Biennale, India’s inaugural festival of international contemporary art

While Matru ki… confuses with its name, Race 2 becomes star on Google Search

HP unveils innovative digital printing technology

GSFC in tie-up with Canadian firm Karnalyte Resources Inc

YRF Remix treat for audiences' this January

IBM, STMicroelectronics and Shaspa advance smarter home initiative

Majgenta Fashions brings Versace 19.69 Abbigliamento Sportivo Milano-Italy to India

Lohri Special Maha Episode - Niyati and Tujh Sang Preet Lagai Sajna on Sahara One

TÜV SÜD announces toll free number to enhance customer service in India

Jo Fletcher books brings out Indian publishing phenomenon in UK

AISFM conducts filmmaking workshop with Kurt Inderbitzin in Mumbai

All-New Range Rover hailed as luxury car of the year by what car, UK?

Vodafone India launches multimedia campaign

Courtyard by Marriott Gurgaon appoints Ashis Rout as Executive Chef

Panasonic showcases eco and smart solutions at 2013 CES

After an incredible 2012, Whistling Woods plans BIG in 2013

Merck India launches ‘SAY NO To Sab Chalta Hai’ social campaign