Vol. 796 -October 25, 2013    

Coal-gate: I have nothing to hide, says Prime Minister

Prime Minister Manmohan Singh said he is not above the law of the land. "If there is anything that the CBI, or for that matter, anybody wants to ask, I have nothing to hide," Singh said with reference to the allocation of the coal block in Odisha when he was the minister in-charge in 2005. Hindalco has denied any wrongdoing in the allocation. When questioned about the number of scams in UPA-II regime he said, "First of all, I would say the ‘scams’ that you are referring to, took place not in UPA-II, they took in UPA-I. After that we had a general election. The Congress party won in that election hands down and I am sure when the result of 2014 gets out, country will once again be surprised." On the rising BJP wave, the PM said, "Well, I think the Congress party is quite active. I think the BJP may have started early but I think it will also peak early and slow and steady, I think, is the thing which sometimes works in public life as well and I am confident that Congress party will come out victorious in the 2014 elections."

FM asks regulators to take measures for QE

The Union Finance Minister P.Chidambaram emphasized that as tapering off of Quantitative Easing (QE) in the US is likely to happen sooner or later and, as such, regulators must take all possible concrete measures to avoid any adverse impact on the Indian economy. The Finance Minister was speaking at the Eighth (8th) Meeting of the Financial Stability and Development Council (FSDC) which was held under his Chairmanship. Chidambaram said that the opportunity available due to the postponement of the reversal of the monetary policies in advanced economies should be utilized to further address the macroeconomic imbalances. The meeting was attended among others by Dr. Raghuram G. Rajan, Governor, RBI; R.S.Gujral, Finance Secretary; Dr. Arvind Mayaram, Secretary, Department of Economic Affairs; Rajiv Takru, Secretary, Department of Financial Services; Sumit Bose, Secretary, Department of Revenue; Naved Masood, Secretary, Ministry of Corporate Affairs; U.K.Sinha, Chairman, SEBI; T.S.Vijayan, Chairman, IRDA; Yogesh Agarwal, Chairman, PFRDA; Ramesh Abhishek, Chairman, FMC and other senior officers of the Government.

The Council deliberated on the implementation of the recommendations of the Financial Sector Legislative Reforms Commission (FSLRC); impact of tapering off of the Quantitative Easing (QE) in the US and preventive measures to be taken; Steps to be taken by Regulators/Government to facilitate the "Corporate Distress Resolution Mechanism" as laid-out in the Companies Act, 2013. RBI apprised the Council of the report of FSDC Sub-Committee, the last meeting of which was held on August 07, 2013. The Council took stock of the progress in examining the Report of the FSLRC, in pursuance to the decisions taken in the Seventh Meeting of the FSDC held on June 03, 2013. Based on the deliberations made today, it has been decided that all the financial sector regulators (including FMC) will finalise an action plan for implementation of all the FSLRC principles relating to regulatory governance, transparency and improved operational efficiency that do not require legislative action. As regards legislative recommendations, it was decided to analyze the public comments and feedback to further fine tune the draft Indian Financial Code. It was also decided that action should be taken for finalizing the roadmap for creation of new institutions such as Resolution Corporation, PDMA, FSAT and FDMC...Read More

Corruption charges and high Food Inflation hurts India's Economic Confidence: Ipsos

India’s economic confidence has got hurt severely due to plethora of corruption charges and high food inflation during festival season, according to a report by leading global research firm Ipsos. According to the "Ipsos Economic Pulse of the World" study, India's economic confidence dropped sharply to an all-time low by 14 points to 40 percent in the month of October compared to the month of September 2013. India now stands as eighth most economically confident country in the world after Saudi Arabia, Sweden, Germany, Canada, Australia, China, and Turkey. A paltry 27 percent Indians believe that the local economy which impacts their personal finance is good, a sharp decline of 7 points. However, Indians are hopeful about future; with four in ten (41%) people expecting that the economy in their local area will be stronger in next six months, a slender rise of 1 point. "Exorbitantly high food inflation and lack of new job opportunities is hurting the common man badly. Moreover slow pace of growth, combined with rampant corruption charges is hurting investor and corporate sentiments. This has severely dented India’s economic confidence." said Mick Gordon, CEO, Ipsos in India...Read More

We project CAD to come down to 3.7% in FY14: RBI

(Leatherbee Lecture by Dr. Raghuram Rajan, Governor, Reserve Bank of India on India: Opportunities and Challenges Ahead' at Harvard Business School (HBS), Boston, delivered on October 15, 2013)

Indian cricket fans are manic-depressive in their treatment of their favorite teams. They elevate players to god-like status when their team performs well, ignoring obvious weaknesses; but when it loses, as any team must, the fall is equally steep and every weakness is dissected. In fact, the team is never as good as fans make it out to be when it wins, nor as bad as it is made out to be when it loses. Its weaknesses existed in victory, too, but were overlooked. Such bipolar behavior seems to apply to assessments of India’s economy as well, with foreign analysts joining Indians in similar swings between over-exuberance and self-flagellation. A few years ago, India could do no wrong. Commentators talked of "Chindia", elevating India’s performance to that of its northern neighbor. Today, India can do no right. India does have its problems. Annual GDP growth slowed significantly in the last quarter to 4.4%, inflation is high, and the current-account and budget deficits last year were too large. Every commentator today highlights India’s poor infrastructure, excessive regulation, small manufacturing sector, and a workforce with inadequate education and skills. These are indeed deficiencies, and they must be fixed if India is to grow strongly and stably. But the same deficiencies existed when India was growing fast. To understand what needs to be done in the short run, we must understand what dampened the Indian success story. In part, India’s slowdown paradoxically reflects the substantial fiscal and monetary stimulus that its policymakers, like those in all major emerging markets, injected into its economy in the aftermath of the 2008 financial crisis. The resulting growth spurt led to inflation, especially because the world did not slide into a second Great Depression, as was originally feared. So monetary policy has had to be tight, with high interest rates contributing to slowing investment and consumption...Read More

RBI issues paper on Corporate Pricing Power, Inflation, IIP

Winners, losers if rupee, rupiah fall 15%: Fitch

Fitch in a special report published today highlights the Indian and Indonesian corporates whose financial profiles could strengthen or weaken if the rupee and rupiah depreciate by 15% and 30%. The report comes in the context of the significant fall in both the Indian rupee and the Indonesian rupiah in August and September. The report examines the impact of the currency depreciations, from both a balance sheet and cash flow perspective, on its internationally rated corporates in India and Indonesia. Specifically Fitch highlights eight Indian and five Indonesian corporates who are likely to benefit, and conversely three Indian and eight Indonesian corporates likely to witness deterioration in their financial profiles. The report shows the impact on net leverage (adjusted net debt to operating EBITDAR) under our base case of 15% currency depreciation and stress case of 30% depreciation, and compares this with our official negative rating triggers (for those corporates where we have assigned leverage rating triggers)...Read More

Weak end for Sensex, Nifty

Nifty closed marginally lower on Friday a day after hitting a 3-year high of 6,252 as it continues to consolidate in a narrow trading band. It was yet another day of lackluster trade as traders remained cautious ahead of the Reserve Bank meet scheduled on 29 October. The BSE Realty index was the top loser, down 2% followed by BSE capital goods index down 1.7% and BSE metal index down 1%. Even the mid-cap and the small-cap index witnessed selling pressure. Among the top gainers were, BSE IT index up 1.5% and BSE Teck index up 1%.  Finally, BSE Sensex closed at 20,655 down 70 points, while, NSE Nifty fell 31 points to close at 6,133. DLF, Hindalco, NMDC, Cairn, Tata Steel, BPCL, M&M, Hindustan Unilever, L&T and BHEL were among the top losers in the Nifty. On the other hand, TCS, HCL Tech, Wipro, Sesa Sterlite, NTPC and Grasim were among the top gainers. Advance declined ratio favoured the bears. On the BSE, 1385 stocks declined against 964 advancing stocks, while 140 remained unchanged. The INDIA VIX was down 1.4% at 20.53. It hit a day’s high of 21.04 and low of 19.87. On the currency front, the rupee was weak at around 61.61 against the dollar. The Indian unit had opened a tad weak at 61.50 per dollar against the previous close of 61.47...Read More

Obesity accelerates wear and tear in joints

We all know that obesity can have dangerous consequences on health including increased risks of cardiovascular diseases, hypertension, diabetes and several other ailments. However, excess weight also severely hampers the health of our joints, and this is one aspect of obesity that is not much talked about. As we observe the World Obesity Day recently, we are hearing all sorts of right noises about the need of creating awareness to prevent obesity from becoming an epidemic. However, not much is being talked about regarding the impact of obesity on the health of joints of people who are overweight. Joints are a vital part of our bodies that enable movements of our body parts and having them is good health is extremely crucial for our general well being. A problem in our knees can restrict our movement, degrade our quality of life and further fuel the problem of weight gain by forcing you to a sedentary life.

Obese people often report pain in joints mostly caused by excess wear and tear of cartilage around the bones, and in the long run this is something that leads to the requirement of joint replacement. It is a no brainer that the joints especially the knees and the hip joint bears the weight of the entire body. While a person moves, walks or indulges in more vigorous activities, the force exerted on the joints is even greater than the body weight. According to estimates, India already has more than 3 crore obese people and the number is only expected to rise in the near future. With increase in urbanization, a visible tilt towards a sedentary lifestyle, addiction to technology and lack of exercise, add to it the faulty eating habits we are adopting in our lives, all these factors are feeding into our obesity crisis. There was a time when obesity was considered a problem of the rich nations. Not any more, low and middle income countries like India too are now facing this health menace. It hence becomes the need of the hour to create awareness about obesity and its implications...Read More

What to eat and not to eat when you are pregnant?

Pregnancy weakens the expectant mothers immune system and makes her more vulnerable to food-borne illnesses that could make her sick and harm her baby. It is important to avoid certain foods during pregnancy. The growing baby gets all its nourishment from its mother through the umbilical cord, so the diet of the mother plays a very crucial role in the baby's growth & development.

Enlisted below is a food-guideline for the moms-to-be:

Burgers and other grilled meat or fish: Before the expectant mother orders for a burger or other grilled or barbecued meat, chicken, pork, or fish, she should make sure it's cooked well-done and not pink in any areas. E. coli, salmonella and toxoplasma can lurk in undercooked meats. Listeria and toxoplasma can cross the placenta and affect the baby even if the expectant mother never feel symptoms of the illness herself.

Raw cookie dough or cake batter: If the expectant mother plans on baking cookies or cupcakes, she should resist the temptation to sample the batter. The raw eggs in cookie dough and cake batter could contain salmonella or other bacteria harmful for her and her baby.

Sushi: The expectant mother should avoid sushi trays with raw fish, because it may contain parasites and bacteria that might be detrimental for the health of the mother.

Fruitcake and other alcoholic food items: When the expectant mother wants to indulge in a fruitcake and other desserts that use alcohol as an ingredient, it is generally okay, because most of the alcohol burns off during cooking. If the fruitcake has been soaked in rum or other liquor after being baked, it is better she avoids it...Read More

Impact of ageing on smart phone use to be examined

Age-related difficulties in texting and emailing on smart phones will be investigated by a University of Strathclyde academic. Dr Mark Dunlop will examine the effect of getting older on people's ability to use touch-screen mobile technologies, including smart phones. He believes this issue will become increasingly important as the workforce ages. Dr Dunlop said: "It's estimated around 25% of emails are now opened on mobiles and as the older working population rises – due to both ageing population demographics and increasing retirement age – more workers will need to keep using their mobile technologies for work into their mid-to-late 60s. Furthermore, many people will want to continue professional, social and lifestyle usage into their late retirement, as the technologies can support increased community involvement and personal independence.

"Given increasing retirement ages and increasing use of smartphones for both work and social life, this research could have a major impact on personal wellbeing and the UK economy. "Furthermore, upcoming EU legislation is likely to require services that are seen as critical for the citizen to participate in society to be accessible to disabled and older people. Age UK states this is likely to cover information and communication technologies, including mobile phones, and encourages the UK government to support the legislation." Most mobile technologies now rely on touch-screen keyboards for popular functions such as email, social networking, texting and web or map searches. Dr Dunlop told how the ageing process – associated with a decline in hearing, sight, working memory, selective attention and motor control – can interfere with people's ability to use mobile technology. Dr Dunlop, of the Computer and Information Sciences Department in Strathclyde'sScience Faculty, said: "While there have been numerous studies into text entry usage on touchscreens, there has been very little work studying the effects of ageing on text entry – and none on modern touch-screen phones where reduced visual acuity, reduced motor control and reduced working memory are all likely to have an impact...Read More

IIFL Q2 cons PAT up 5% QoQ

IIFL Ltd has posted results for the quarter and half year ended 30 September, 2013.

Half Year Results (consolidated) for April - Sept 2013 (H1FY14)

  • Income for the half year at Rs1,360 Cr up 10% yoy
  • Earnings before Interest, Depreciation and Tax was at rS778 Cr, up 29% yoy
  • Profit after Tax at Rs130 Cr, up 9.8% yoy
  • Quarter Results (consolidated) for July - Sept 2013 (Q2FY14)
  • Income for the quarter at Rs683 Cr up 5% yoy, marginally up qoq
  • Earnings before Interest, Depreciation and Tax was at Rs402 Cr, up 29% yoy and up 7% qoq
  • Profit after Tax at Rs66 Cr, marginally up yoy and up 5% qoq

Nirmal Jain, Chairman, IIFL, commenting on the financial results of Q2FY14 said, "We are pleased to report positive growth quarter over quarter as well as year over year, despite significant head winds from adverse capital market conditions and high interest cost. Our business mix has undergone a huge transformation over the last 3 years. Our financing business has emerged as the key driver and is delivering a steady growth, whereas capital market related business has contracted considerably."...Read More

ITC Q2 net profit at Rs22305.30 mn

Thomas Cook Q2 net profit up 77%

Wockhardt Q2 net profit at Rs1385mn

Gail (India) Q2 net profit at Rs 9156.70 mn

TVS Motors Q2 net profit at Rs890mn

Adani Power Q2 net loss at Rs10719.10mn

Adani Ports Q2 net profit at Rs3418.30 mn

ICICI Bank Q2 net profit at Rs23.52bn

Microsoft Q1 revenue at $18.53 bn

Mastek Q2 net profit jumps 113%

Biocon Q2 net profit at Rs1021.50 mn

JK Tyre Q2 PBT jumps 78%

GSFC Q2 net profit at Rs1.10bn

Essar Shipping Q2 cons revenue of Rs. 5.16bn

Idea Cellular Q2 PAT at Rs4.48bn

Ipca Laboratories Q2 net profit at Rs1294.50 mn

Unilever Q3 sales up 3.2%

Kotak Mahindra net profit at Rs. 3.53bn for Sept quarter

Accelya Kale Solutions cons PAT at Rs165.62 mn

SKS Microfinance Q2 PAT at Rs. 16.3 crore

Indiabulls Housing Q2 PAT up 22%

Ramco Systems posts global income of Rs. 65.34 crs.

Power Grid Corp Q2 net profit at Rs12392mn

Ambuja Cements Q2 net profit at Rs1659.70 mn

Jet Airways Q2 net loss at Rs8.91bn

Emami Q2 net profit at Rs. 799.60mn

Hero MotoCorp Q2 net profit at Rs4814.10 mn

Jyothy Laboratories Q2 net sales up 33%

Hindustan Zinc Q2 net profit at Rs16402.50 mn

L&T Finance Holdings Q2 net profit at Rs1557.239mn

SKF India registers sales of Rs 5660 mn in Q3

Dish TV Q2 net loss at Rs160mn

ACC Q3 net profit at Rs1189mn

Gujarat Pipavav Port Q3 net profit at Rs441mn

KPIT Q2 revenue up 15%

Samsung unveils GALAXY Note 10.1

Rediff.com Q2 revenue at $3.96 mn

Polaris Q2 net profit up 38%

V-Guard Q2 net profit at Rs144.8mn

ING Vysya Q2 net profit up 17%

Wipro Q2 net profit at Rs19.32bn

Cairn India Q2 PAT at Rs33.80bn

Mahindra Lifespaces Q2 net profit at Rs190mn

Zensar Technologies Q2 net profit jumps 120%

Yes Bank Q2 net profit at Rs3711.30 mn

Dewan Housing Q2 net profit at Rs1.29bn

Persistent Systems Q2 net profit up 6%

JK Lakshmi Cement sales up 7%

Karnataka Bank Q2 net profit at Rs289.50 mn

Liberty Q2 sales jumps 46%

Asian Paints Q2 net profit at Rs3268.40 mn

M&M Financial Q2 net profit at Rs2324.973 mn

Geometric Q2 net profit up 7%

Zee Entertainment Q2 net profit at Rs2279.80 mn

HDFC Q2 PAT at Rs12.66bn

Unichem Laboratories Q2 net profit at Rs362mn

Federal Bank Q2 net profit up 113.71%

UltraTech Cement Q2 net profit at Rs2.64bn

Economic success requires a favourable external environment: PM

Following is the text of the Prime Minister, Dr. Manmohan Singh’s speech at the Central Party School in Beijing:

"I am deeply honoured at this invitation to speak at the Central Party School of the Communist Party of China. Ladies and Gentlemen, I am conscious of the unique place that this School holds in the governance system of contemporary China and its contribution to the remarkable transformation of Chinese society. Many of you will play a decisive role in shaping China’s future development, which will be of great significance for Asia and the world.

I can think of no better place than this School to speak about India and China in the new era. Relations between India and China are unique in the world. We are two continuous ancient civilizations. We are neighbours with a long history of cultural, spiritual and economic ties. We both embarked on a new phase of our political histories around the same time. Today, we are the world’s two most populous nations, engaged in a process of socio-economic transformation of our people on a scale and at a pace unprecedented in human history. Both our countries have achieved considerable success in this endeavour. Indeed, China’s early economic reforms and impressive achievements are a source of inspiration across the developing world. After China, India has been the fastest growing major economy in the world, averaging a growth rate of 7% per year over the past two decades and around 8% per year during the past ten years. As a result, both our economies have expanded several times. We have achieved a high degree of economic modernization and have lifted hundreds of millions of our people out of the clutches of poverty. 

In our own ways, we have also had an impact in shaping the global economy – China in the manufacturing sector and India in the services sector. Over the past two decades, the process of economic reforms in India has gone through the rigour of democratic debate, and met the test of political consensus and public support. India’s policies have focused not only on accelerating growth, but also on making it sustainable and regionally balanced. We have emphasized not only modernization, but also addressing the challenges of opportunities, capacity and equity for our vast and diverse population. This is the path on which we will continue to move forward. In structural terms, India’s growth is propelled by domestic demand and financed largely by our own resources. But we are also increasingly integrated into the global economy. The prolonged global economic crisis has affected us, as it has many other emerging economies. I believe, however, that this is a temporary disruption. In recent months, we have taken measures to enhance foreign investment flows, speed up implementation of major projects, boost infrastructure development, strengthen our financial markets, reform our tax system and make our business environment more attractive...Read More

India and Russia built a sound relationship befitting challenges of modern age: PM

Growth to exceed 5%: Rangarajan

Prime Minister's key economic advisory council chairman C Rangarajan reportedly exuded confidence that the growth would be around 5.5% in the current fiscal. "We think the growth rate will be between 5 and 5.5%. We have projected growth rate of 5% earlier, which I think still holds," Rangarajan reportedly said on the sidelines of Global Conference on Financial Inclusion & Payment System here. Earlier World Bank slashed India's economic growth forecast for the current financial year to 4.7%.

HSBC lowers CAD forecast from 4.1% of GDP to 3.4% in FY14

ZyFin Research estimates GDP Growth for August at 4.6%

CAD likely to lower than 3.8% this fiscal: Ahluwalia

Political participation helps narrow global gender gap in 2013

FIPB approves Tata-Singapore airline JV

FIPB has approved Tata-Singapore airline deal, according to reports. Report said that the Tata-SIA airline JV will be based out of New Delhi. Tata Sons to hold 51% stake, while Singapore airline to hold 49% stake. The JV airline needs slew of other regulatory approvals before it can start operations.  The FIPB, headed by Economic Affairs Secretary Arvind Mayaram, is an inter-ministerial panel for approving Foreign Direct Investment (FDI) across sectors. Report said that the two partners are making an initial investment of $ 100 mn to launch the airline. Tatas and Singapore Airlines assured the government that control of their proposed venture would always remain in Indian hands, media report said. In February , Tatas also announced a partnership with Malaysia's AirAsia for a low-cost carrier in India.

TATA Sikorsky JV delivers first fully indigenous S-92 helicopter cabin

TABcab partners with Jet Airways’ JetPrivilege programme

Jet Airways plans to raise $300 mn

Jet Airways plans to start flights for 15 new routes

Singapore Airlines' new cabin products debut on Mumbai route

GoAir appoints Girish Nair as Chief Commercial Officer


Pawar calls for innovative approaches in field of agricultural extension

Agriculture and Food Processing Industries Minister, Sharad Pawar called for adopting innovative approaches in the field of agricultural extension. He also announced that a dedicated mission on agricultural extension and a research institute on e-Extension are being put in place. The Minister stated this while inaugurating the National Conference on Krishi Vigyan Kendra at Bangalore today. Beside all Krishi Vigyan Kendras, scientists and policymakers participated in the Conference. The Conference was presided over by the Governor of Karnataka, Dr. Hans Raj Bhardwaj and was addressed by the Karnataka Chief Minister, Shri Sidda Ramaiah, Ministers of State for Agriculture and Food Processing Industries, Dr. Charan Das Mahant and Shri Tariq Anwar, Agriculture Secretary, Shri Ashish Bahuguna and DG (ICAR) Dr. S. Ayyappan. Expressing happiness over the role played by KVKs in reaching scientific knowhow to the four corners of the country, the Minister said, "KVKs have now stretched their network to all parts of the country, from highest altitude to below mean sea level, from west coast to north east border, and from islands to mountain and border areas. KVKs have grown tremendously not only in number, but also in diverse nature of their activities. Scientifically designed Integrated Farming System models, suiting to different resource endowed situations are being demonstrated by the KVKs keeping the sustainable intensification of smallholder farmers in view...Read More

Tata Chem launches FARMGRO and FARMGRO G organic plant growth regulators

Imported Onion allowed to be fumigated in India

International standardization should be comprehensive: K.V. Thomas

GM India launches All New Chevrolet Cruze

GM India launched the all new Chevrolet Cruze with refreshed exterior styling, new comfort features and added safety. The Cruze, which had already set a new benchmark in the premium executive sedan segment with the most powerful diesel engine under its hood, will further strengthen its position in the marketplace and reiterate GM India’s commitment to provide best-in-class products to its customers. "The Cruze has received an overwhelming response from consumers across India since its launch in 2009 and continues to be the largest-selling Chevrolet nameplate globally," said Lowell Paddock, President and Managing Director, General Motors India. "With new stylish exteriors, modern comfort features and added safety, we expect the all new Cruze to continue exceeding expectations of car buyers and keep up the excitement in the festive season."

Stylish New Exteriors

The all new Cruze comes with a new dual-port front grille with gold bowtie, newly designed front and rear bumpers, new dual bezel design headlamps, new alloy wheels and new fog lamps with chrome surround across all trim levels. The new Cruze with its refreshed styling chisels a lasting impression with its bold dynamism of form, aggressive stance, muscular shoulders and taut styling crease lines. The jewel-effect headlamps add striking character to the sporty front end. Muscular sides, chrome applique on the trunk lid and mesmerizing twin-port jewel effect tail lights highlight the design enchantment...Read More

Toyota Kirloskar launches ‘Fortuner TRD Sportivo’ limited edition

Toyota Kirloskar Motor (TKM) launched the Fortuner TRD Sportivo- Limted Edition, for the festive season. The Fortuner TRD Sportivo has been specially introduced to further enhance the sporty quotient of the Fortuner and bring in new product excitement along with Toyota’s legendary promise of Quality, Durability & Reliability (QDR). Designed by Toyota Racing Development (TRD), the limited edition will be available in the 4x4 MT variant of the Fortuner. The new sporty quotient will not only further boost the Fortuner’s road presence, but will also lend it a unique identity.

The Fortuner TRD Sportivo Limited Edition has the following new features:

  • Aerodynamically designed dual tone front and rear bumper spoiler
  • TRD engraved sporty side body stripe
  • Rear roof spoiler
  • Radiator grille with TRD emblem
  • Rear TRD Sportivo emblem

Only 400 exclusive units of the Fortuner Limited Edition will be sold till the month of Dec 2013. Available in two colors, Super White & Silver Mica Metallic, the Fortuner TRD Sportivo is priced at Rs. 24,26,247/- (ex showroom Delhi)...Read More

Telematics Experts separate fact from fiction at AAPEX Forum

Automotive coatings market strengthens due to growth of auto industry: Frost & Sullivan

Honda announces overview of exhibit for 43rd Tokyo Motor Show 2013

Apollo Tyres loses court bid for dismissal of Cooper case

Delinquency rates of commercial vehicle lLoans rise by 20%: Equifax

RBI issues paper on financial crisis and bank behavior

The Reserve Bank of India on Thursday issued a Working Paper titled "Net Interest Margin, Financial Crisis and Bank Behavior: Experience of Indian Banks" under the Reserve Bank of India Working Paper Series* (RBIWPS). The paper has been authored by Tushar B. Das. In this paper, the author has attempted to assess the impact of the financial crisis on banks’ efficiency considering Net Interest Margin (NIM) as an efficiency indicator for the Indian banks. By employing disaggregated bank level data across different ownership categories, the author has analysed the factors influencing Indian banks’ margin.

Following the monetary transmission literature, the author has also investigated the influence of size, liquidity and capitalisation on the efficiency of banks.

Major findings:

  • Bank margins dampened during 1992 to 2010 due to non-performing assets (NPAs) and cost inefficiency.
  • Real economic growth influenced the margin in a positive way.
  • Well capitalised banks and banks with high deposits concentration could maintain high margin and withstand the impact of crisis.
  • Public Sector Banks faced significant erosion of their profitability.
  • Banks with high capital and adequate liquidity did not come under pressure during the initial part of the crisis.
  • During the second half of the crisis, banks with low capital and limited liquidity found it difficult to maintain the margin.

RBI allows UCBs to open specialised branches

RBI to hike repo rate by 25 bps in Q2 policy: ICRA

RBI appoints GIRO Advisory for new bill payment system

RBI receives $10.1bn under forex swap window

RBI issues paper on Corporate Pricing Power, Inflation, IIP

UCBs to use ‘at par’ cheque for their own use: RBI

Banks to expedite claim settlements of U'khand missing: RBI

Poor assets to test emerging market banks' credit quality

Asset quality deterioration, shortage of capital, or slowing credit growth could undermine the BRICMT (Brazil, Russia, India, China, Mexico, and Turkey) banks' credit quality, especially amid economic slowdown following years of strong credit growth, according to a recently published report by Standard & Poor's Ratings Service titled "Credit FAQ: Can The Largest Emerging Markets Banking Systems Withstand Jitters About Economy And Financial Markets?".

"In addition, we remain concerned about the rising household debt burden, given still low, although increasing, GDP per capita and cyclicality of these major emerging market economies," said Standard & Poor's credit analyst Cynthia Cohen Freue. The expectation of the U.S. Federal Reserve's reversal of its loose monetary policy has hit most emerging markets, pushing financing costs higher and currencies lower, and reducing the pace of global and regional market issuance. In our view, the resulting global capital outflow will have varying effects on banks in the BRICMT nations, S&P said.

Federal Bank gets FIPB approval to raise foreign shareholding

Citi launches Citi Payments Risk Manager

Govt approves Vikram Pandit's investment in JM Financial

Govt to infuse Rs. 140 billion in state-run banks

Market Strategy: Back to the races, or another head fake?

Bajaj Finserv offers Diwali contest on online personal loans

Indian MSMEs don't have access to well funded ecosystem

India Post apt for financial inclusion in rural areas

MFIs to grow at an annualised pace of 30-35%: ICRA

L&T Construction bags order worth Rs13.33bn

L&T Construction has secured new orders worth Rs1333 crores in October 2013 in various business segments. In Water & Renewable Energy Business, orders valued at Rs1095 crores have been received from various customers. The Waste Water Business has secured a major turnkey order from the Gujarat Water Supply and Sewerage Board for construction of underground drainage system in nine towns of Jamnagar and Porbandar districts of Gujarat. A repeat order is also received from Naya Raipur Development Authority for construction of underground storm water pipelines, water supply network and other associated works at Naya Raipur...Read More

RailYatri.in launches National RailYatri Alert Service

L&T to list toll road projects on Singapore stock exchange

Punj Lloyd plans to divest stake in non-core assets

Lanco Infratech employees not receives salaries for 3-4 months: reports

Dr. Sudhir Krishna launches Institute of Metro & Rail Technology

Pratibha Industries bags order worth Rs3.21bn

73% of cos can’t keep security breaches under wraps: Kaspersky Lab

The overwhelming majority of companies facing IT security incidents were unable to keep information about those incidents confidential due to pressure from third parties. This ultimately led to major blows to business reputations, according to B2B International, which worked with Kaspersky Lab this spring to conduct the Global Corporate IT Security Risks 2013 survey among business representatives around the world. Public disclosure of information about IT security incidents is often inevitable, something that most organizations can’t avoid. The study revealed that an average of 44% of companies that suffer a data leakage are forced to disclose the incident to clients who might potentially be affected by the incident, while 34% informed their business partners, 33% informed their suppliers, 27% reported to regulators, and 15% were obliged to disclose details to the media. Large companies are more frequently faced with having to disclose details about IT security incidents to third parties. These organizations must primarily report to regulators, clients, and the media. The need to disclose this type of information naturally risks causing substantial damage to corporate reputations. Not infrequently, disclosure is also associated with financial losses in the form of fines imposed by regulators, and compensation for related losses incurred by clients and partners. Since regulators, contractual obligations to clients and partners, and other factors often do not permit a company to keep information about data leakages confidential, the only real way to avoid damages from the disclosure of this type of information is to prevent an IT security incident from happening in the first place — by building a secure, protected IT infrastructure...Read More

Assocham writes to PM, says concerned over baseless probes

Seeking protection from the Prime Minister, apex industry body ASSOCHAM has expressed apprehensions that more industry leaders may come under the scanner of the investigative agencies merely on the basis of inferences and perceptions of wrong-doings vitiating the investment climate. In a letter to Dr Manmohan Singh, the chamber said while it appreciates clearing of the air on Hindalco, activism on the part of investigating agencies is harming the overall business climate and image of the well-respected industrialists is being sullied.  "The country needs your support for restoration of confidence and spirit of enterprise," the ASSOCHAM letter to the Prime Minister said. The ASSOCHAM letter further said, an entrepreneur who is hungry for growth, as he should be, will surely need a hands-on relationship with the government so that all the hurdles and procedural delays do not cost him dearly. It said in the midst of an environment of mistrust and unsubstantiated allegations of scams it is observed that the decision-makers in the government would prefer not to take decisions, lest they are hounded by investigative agencies even after their retirement. The situation would become even more precarious in an election year...Read More

Coalgate Scam: CBI files FIR

Coalgate scam: CBI may record PM's statement

Uttam Galva Steels honored with best run award in Manufacturing at SAP ACE Award

Govt wasting time on HZL, Balco stake sale: Vedanta

Cairn India keen to partner global leaders

Cairn India is planning to partner global leaders to hunt for shale resources in its prolific Rajasthan block, the company’s CEO P Elango said. "At Rajasthan, we see the presence of tighter gas and oil resources," says Cairn India. Elango reportedly said that the policy regime is vital for discovering and developing fields, and the company had taken up various issues with the government, which will help the energy sector. In the current financial year, Cairn India is targeting 2,00,000-2,15,000 bpd.

ONGC writes to DGH...Possibility of RIL drawing gas from blocks

GAIL signs gas cooperation agreement with Govt of Bihar

Oil ministry may exempt Gail from sharing oil subsidy

ONGC eyes Russia's Arctic offshore

Petronas Lubricants plans to invest $50 mn

RIL's KG-D6 basin production would further go down by 2020-21: reports

Unichem lab gets USFDA nod for Amlodipine Besylate tablets

Unichem laboratories Limited are pleased to announce that it has received ANDA approval from the United States Food and Drug Administration (U.S. FDA) for Amlodipine Besylate Tablets. Amlodipine Besylate Tablets USP 2.5mg, 5mg and 10mg are therapeutically equivalent to NORVASC Tablets 2.5mg, 5mg and 10mg from Pfizer Inc. Amlodipine Besylate Tablet USP is a calcium channel blocker indicated for the treatment of hypertension, to lower blood pressure. Lowering blood pressure reduces the risk of fatal and nonfatal cardiovascular events, primarily strokes and myocardial infarctions. The product will be commercialized from Unichem’s Goa plant. Active pharmaceutical ingredient i.e.,Amlodipine Besylate used for this ANDA is also made in house at Roha plant.Currently, 6-7 companies are dominating the US market. The current market size is around US$ 45~50 Million.

Aditya Birla Hospital organizes free stroke check up camp

Unichem Lab receives proceeds of sale of Indore SEZ plant

Zulekha Hospital wins ‘Healthcare deployment of the year’ award

NCR residential market gains momentum: Knight Frank

Knight Frank India launched its residential research report focusing exclusively on the NCR market. The report talks about how the NCR market has fared both in terms of launches and absorption in the wake of cautious consumer sentiments.

Key Takeaways

  • The NCR market is striving for a better equilibrium
  • Developers focusing on project completion; deferring new launches
  • Focus on project completion is crucial for retaining consumer confidence
  • NCR witnessed a total absorption of 35,000 units in H1 2013, showing an increase of 18% from H1 2012
  • Increase in sales can also be ascribed to the high number of project launches in the affordable category
  • While sluggish buyer sentiments have discouraged sales in some areas, locations like Dwarka Expressway, Noida Expressway and Greater Noida will continue to lure investors...Read More

Majority of young India has investment vision for 3yrs: PHD Chamber

Cloud based CRM solutions a boon to Real Estate Consultants

JLL: Rental Housing In Mumbai

Unitech signs leasing deal with Accenture

BlackBerry introduces new BlackBerry Z30 smartphone in India

BlackBerry introduced the new BlackBerry Z30 smartphone, BlackBerry’s biggest, fastest and most advanced smartphone, in India. Featuring BlackBerry 10 OS version 10.2, the new all-touch BlackBerry Z30 smartphone comes with a beautiful 5" display and the largest battery ever on a BlackBerry smartphone. It is designed to keep you hyper connected, productive and always in control, and lets you share like you’re there and collaborate with ease. "The new BlackBerry Z30 smartphone offers a unique and engaging user experience with features like the powerful BlackBerry Hub, its exceptional touchscreen keyboard and industry leading browser," said Sunil Lalvani, Managing Director for India at BlackBerry. "BlackBerry Z30 is the ultimate smartphone for the urban youth and consumers who are looking for a bigger screen size, long-lasting battery performance and a best in class productivity experience on the go."...Read More

Samsung unveils GALAXY Note 10.1

Samsung Electronics Co., Ltd., a global leader in digital media and convergence technologies, today unveiled the GALAXY Note 10.1 (2014 Edition) in India, balancing productivity and powerful content creation in one portable tablet device.  Equipped with WQXGA Super clear LCD (2560x1600) resolution in a stunning 10-inch display, 1.9GHz Quad + 1.3GHz Quad processor and a 3GB RAM, the GALAXY Note 10.1 (2014 Edition) demonstrates Samsung’s innovation leadership by delivering ultimate productivity capabilities while remaining extremely thin and light. "The new GALAXY Note 10.1 delivers the best viewing and multitasking experiences. It is a demonstration of Samsung Mobile's focus on constant product innovation to stay aligned with shifting consumer interests," said Mr. Vineet Taneja, Country Head, Mobile & IT, Samsung India. "The GALAXY Note 10.1 (2014 Edition) unites functionality, usage experience and mobility to make the everyday lives of consumers easier and more enjoyable." The new GALAXY Note 10.1 expands on the advanced productivity and creativity leadership delivered by the original Samsung GALAXY Note 800. In addition to enabling productivity, the device has been redesigned with a sleek, light, slim frame that is both fashionable and portable...Read More

Ukraine & Turkey: The European energy coup

Though Norway in June overtook Russia in total exports of natural gas to Europe, the balance of Russian gas to Europe comes through Ukraine, which itself is dependent upon Russia for 60% of its current gas consumption. While Ukraine controls the transit of 90% of its gas to Europe, Russia is consistently trying to use its gas exports to Ukraine to gain greater control of the Ukraine transit system, which itself deems a strategic asset. The struggle for control of export to Europe and Ukraine's own struggle to increase domestic production and move closer to Europe, with an European Association Agreement set to be signed in November this year, has put extreme stress not only on the energy independence of Ukraine but of Europe as a whole. From an energy geostrategic standpoint, Europe needs Ukraine to move closer to Europe, "but for all its planning, Europe also knows retribution, in the shape of an energy squeeze, is likely from Russia. Moscow, which has a long-standing disagreement with Ukraine over gas, has said it will raise Ukraine's gas prices and officials do not rule out it doing the same for the EU, which gets nearly 40% of its gas from Russia. "The EU should not look at Ukraine as a business opportunity alone, particularly in light of currently lagging gas demand, but should examine the long-term future of European energy security and the key role Ukraine will continue to play in it. Partnership with the EU is not a silver bullet for the troubled Ukrainian energy sector, but it is certain to reduce the volatility of future pricing disputes and is perhaps the only solution that does not leave Ukraine's fate entirely in Russian hands," according to an article by Richard B Andres and Michael Kofman...Read More

The big winners in Kenya’s oil debut

Platts, Fenwei launches 1st China-led thermal coal index series

National and regional actions to reap full benefits of integration: ADB

Governments in Asia must undertake national as well as regional actions to reap the full benefits of integration initiatives like the ASEAN Economic Community (AEC) and be in a strong position to face global economic volatility going forward, says a new report from the Asian Development Bank (ADB). "Strengthening regional integration will help developing Asia become more productive and efficient at a time when the global economy still in flux," said Iwan J. Azis, Head of the Office of Regional Economic Integration which produced the report. "To do that and to avoid falling prey to domestic protectionist pressures, governments must act now to ratify, implement, and enforce regional agreements."

The Asian Economic Integration Monitor (AEIM), a semi-annual report from ADB, notes Asia has seen mixed progress in regional cooperation and integration recently against the backdrop of a shifting economic and financial landscape. Cross-border trade and equity flows have slowed modestly despite improvements in cross-border foreign direct investment, bond purchases, bank credit, and tourism flows. Progress toward the AEC has been steady but slow. The region needs to work harder on tackling barriers to trade in economically sensitive sectors such as agriculture, steel, and motor vehicles as well as reducing the non-tariff barriers that are increasingly replacing tariffs as constraints to international trade...Read More

Twitter IPO at $17-$20/share

Twitter reportedly said that it plans to sell its shares in the range of $17 to $20 each, in an initial public offering that values the social media company at as much as $10.9 bn. Twitter is offering 70 million shares, suggesting IPO may raise up to $1.4 billion, the company said. Media report said that the date for offering could come as the week of Nov. 4.  The stock will list on the New York Stock Exchange under the symbol TWTR. Twitter is expected to begin its pre-IPO road show next week. Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank were involved in arranging the credit deal.

Airline business confidence remains strong: IATA survey

There is confidence about the growth in air transport volumes over the next 12 months, supporting an improved outlook for yields, according to IATA’s quarterly survey of airline CFOs and heads of cargo in October. The survey indicated that growth in air transport volumes and expected decline in input costs combined with structural improvements are helping maintain the solid profits outlook for the airline industry. There has also been a downward revision to the outlook for input costs, with fewer respondents (17%) expecting a rise in inputs costs over the next 12 months compared to July when that proportion was 24%. On balance, survey respondents now expect input costs to decline over the next 12 months. Airline business confidence remains strong. Passenger travel is expected to increase strongly over the year ahead, consistent with recent improvements in demand indicators. The survey further said that cargo volumes are also expected to improve during the year ahead, but at a slower pace than air travel. While Input costs are reported to have declined during Q3, despite increases in jet fuel prices, with respondents referring to cost management as the reason. Input costs are expected to decline during the year ahead...Read More

Airbus Military A400M development fleet makes 2000th flight

Honeywell Aerospace highlights latest aircraft upgrades

Eurocopter AS350 B3 helicopter to solve Indian water shortage

Qatar Airways partners with Brand USA

Miami names as Qatar Airways' 6th US destination

British Airways launches sixth direct service to Chennai

Measuring impact of shutdown–Backlog of data will provide clues

With the deal to reopen the federal government in hand, the stream of government economic data will once again begin to flow. Beginning this week, the backlog of delayed reports will start to be cleared.  It is uncertain whether the decayed timeliness of the initial batch of data will cause investors to discount their importance. For example, the September employment report, originally scheduled for release on October 4, will be released on Tuesday, October 22, almost three weeks late. For the record, Wall Street is expecting that 180,000 new non-farm jobs were created and that the unemployment rate stayed at 7.3 percent. The problem is that the September report will tell us nothing about the impact of the government shutdown, which began on October 1. The other problem is that the November employment conditions report is now scheduled to be released on November 8. And although that, too, is a delay from its original release date of November 1, it is only two and a half weeks later than the September report. So, the September report will be a curiosity. It will fill in the blank that currently exists in our knowledge of current conditions in the labor market, but unless it tells us something completely unexpected, its informational content will tend to be discounted. Of course, the health of the labor market is extremely important to the Fed, and to the extent that the September report provides some insight into current conditions free of the distortion of the shutdown, it may have some value. But the shutdown did occur, and will have some impact on labor, even beyond the temporarily furloughed government workers. So, how much valuable insight the September report will offer is questionable...Read More

Moody's: Marginal default rates for availability-based projects are lower

Marginal default rates for availability-based infrastructure projects, of which a substantial number are Private Finance Initiative/Public Private Partnership (PFI/PPP) projects, are on average lower than those for the wider infrastructure projects sector, says Moody's Investors Service in an addendum to its project finance bank loan default and recovery study (February 2013), published. "The addendum makes available new information about the performance of infrastructure projects, subsets of that universe of projects comprising those with availability-based revenues and PFI/PPP projects, and the overlap of those two subsets," says Andrew Davison, a Senior Vice President in Moody's Infrastructure Finance group and co-author of the report. "The historical data shows that, on average, marginal default rates for availability-based infrastructure projects are comparable to low investment grade for the initial year following financial close, and comparable to the single-A category thereafter," adds Kevin Kelhoffer, a Moody's Vice President and co-author of the report...Read More

Cloud Computing will become bulk of new IT spend by 2016: Gartner

The use of cloud computing is growing, and by 2016 this growth will increase to become the bulk of new IT spend, according to Gartner, Inc. 2016 will be a defining year for cloud as private cloud begins to give way to hybrid cloud, and nearly half of large enterprises will have hybrid cloud deployments by the end of 2017. Gartner describes cloud computing as a style of computing in which scalable and elastic IT-enabled capabilities are delivered "as a service" using Internet technologies. It heralds an evolution of business in positive and negative ways. It has also become a hot industry term that has been used in many contradictory ways. "Overall, there are very real trends toward cloud platforms, and also toward massively scalable processing. Virtualization, service orientation and the Internet have converged to sponsor a phenomenon that enables individuals and businesses to choose how they'll acquire or deliver IT services, with reduced emphasis on the constraints of traditional software and hardware licensing models," said Chris Howard, research vice president at Gartner. "Services delivered through the cloud will foster an economy based on delivery and consumption of everything from storage to computation to video to finance deduction management."

Loftware releases Loftware Print Server 10.1 SP1

Apple's former CEO is said to be interested in Blackberry

Microsoft Q1 revenue at $18.53 bn

Twitter IPO at $17-$20/share

Mastek Q2 net profit jumps 113%

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5 Weekly positional calls

After enjoying three consecutive weeks of gains the Indian equity market took a breather as participants preferred to take some profit off the table at higher levels. Both the key Indices managed to hit their respective three year high for the first time since November 2010, but were unable to sustain as traders turned cautious ahead of the the RBI policy meet scheduled next week.

Given persistent inflationary pressure at the consumer level and uptick in inflation at the wholesale level, RBI is expected to increase repo rate in Oct 29 monetary policy by 25bps. Further, the market expects a further 50 bps reduction in the MSF rate.

The other major economic data to watch out next week are the September core sector data and the manufacturing PMI data for October. Moreover, F&O expiry on Thursday will keep the market volatile in the coming week.

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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Leader Speak

Krishnakumar Natarajan, Co-founder, CEO & MD, MindTree Ltd
Yash Ved of IIFL provides you the highlights of a media interaction, where Krishnakumar Natarajan says "We are expecting FY14 growth to be better than FY13."...More

Dr. Pradeep Bavadekar, MD, MITCON Consultancy & Engineering Ltd
Yash Ved of IIFL provides you highlights of a media interaction, where Dr. Pradeep Bavadekar says, "We are planning to raise Rs 25 crore via IPO. The company proposes to utilize the net proceeds of the Issue for expansion including acquisition of property for setting up new offices in Bangalore, Hyderabad, Chennai, New Delhi and Ahmedabad and environment testing laboratories in Bangalore and Ahmedabad."...More

JK Arora, Chairman, SOM Group
Replying to Yash Ved of IIFL, JK Arora says "In the initial phase, we plan to invest close to Rs. 300-350 crores in an acquisition as well as setting up a greenfield unit."...More

N Chandrasekaran, CEO and MD, Tata Consultancy Services
Yash Ved of IIFL provides you the highlights of a media interaction, where N Chandrasekaran said, "We continue to see a robust demand pipeline across markets and a unique opportunity to strategically partner and participate with clients as they reimagine their future in multiple dimensions."...More

JK Gupta, Chief Financial Officer, CMC Ltd
Speaking with Yash Ved of IIFL, JK Gupta says "The company has registered excellent growth in the international markets and continues to find very good traction among its clients across geographies."...More

Romesh Sobti, Managing Director, IndusInd Bank
Yash Ved of IIFL provides you the highlights of a media interaction, where Romesh Sobti says "The Bank has coped well in the face of disrupted money and currency markets to deliver results in line with the trend of the last 21 Quarters."...More

Paresh Sukthankar, Executive Director, HDFC Bank
Yash Ved of IIFL provides you the highlights of a media interaction, where Paresh Sukthankar says, "We aim to grow faster than the industry growth. Our retail portfolio has done reasonably well as far as Q2 is concerned."...More

Ashutosh Sharma, Managing Director, Shreem Jeweler
Replying to Yash Ved of IIFL, Ashutosh Sharma says "The price of gold is not expected to decrease in the coming years. For the long run, ie 4-5 years from now, consumers will be bullish on the demand for gold. "...More

Manish Godha, CEO and Founder, Advaiya
Replying to Anil Mascarenhas of IIFL, Manish Godha says, "…businesses are looking at using technology beyond operational efficiencies, and seeing technology as a strategic business enabler. With our expertise with the newest technologies and enterprise architecture based approach, we are well suited to partner with them for their technology led business innovation."..More

Arvind Prasad, Managing Director, Ushdev International Limited
Replying to Yash Ved of IIFL, Arvind Prasad says "The growth was backed by a rise in order book and contribution made by overseas subsidiaries."...More

Dinesh Patidar, CMD, Shakti Pumps
Replying to Yash Ved of IIFL, Dinesh Patidar says, "In international markets, we are tapping new countries in Africa and South America continents."...More

Cecilia Edebo, Vice President -Consumer Goods, SCA India
Replying to Anil Mascarenhas of IIFL, Cecilia Edebo says, "Investing in India is in line with our strategy to strengthen the company's presence in emerging markets. The large population and the low use of hygiene products is a potential for future growth."...More

Jnaneswar Sen, Sr. VP – Marketing & Sales, Honda Cars India Ltd
Replying to Yash Ved of IIFL, Jnaneswar Sen said "Though the overall industry sentiment is low, Honda has been witnessing constant positive growth in sales post the launch of Amaze which has recently crossed fastest 30,000 sales for any new model in the company’s history in India."...More

Franz Probst, Founder and Co-Chairman, SkillSonics
Replying to Anil Mascarenhas of IIFL, Franz Probst says, "The content delivered by SkillSonics is customized to suit specific sectoral requirements and is also vetted by industry participants to keep it up to date."...More

Srinivas Palakodeti, CFO, Hinduja Global solutions
Replying to Yash Ved of IIFL, Srinivas Palakodeti says "We are planning to expand business in US, UK and Middle East markets."...More

Sunil Agrawal, Chairman, Vaibhav Global Ltd
Replying to Yash Ved of IIFL, Sunil Agrawal says "In Q2, we expect 15 to 20% revenue growth and EBITDA margin at 11%."...More

Ramesh Bulchandani, Chairman, KMB Estates
Replying to Yash Ved of IIFL, Ramesh Bulchandani says "Apart from the organic growth of bulchee stores across India, the company is looking at expanding its retail portfolio with a mix of international brands in the accessory space."...More

Rajesh Vardhan, Managing Director, Vardhman Group
Replying to Anil Mascarenhas of IIFL, Rajesh Vardhan says, "Having a cluster development mechanism can facilitate the development with sound infrastructure and current town planning norms enabling to create better localities for the coming decades."...More

Chanda Kochhar, MD and CEO, ICICI Bank Limited
Yash Ved of IIFL provides you the highlights of a media interaction, where Chanda Kochhar says "Internet & Social media is the new age channel where most of the young generation spends significant amount of their time."...More

Vikalp Mundra, Joint. Managing Director, Ujaas Energy Limited
Replying to Yash Ved of IIFL, Vikalp Mundra says "In our Park business, we aim to commission 100 MW in FY14. We are having 27 MW already commissioned in Mar.13 for our current Solar PV Capacity."...More

B. Satish Kumar, Managing Director, Steel Exchange India Limited
Replying to Yash Ved of IIFL, B. Satish Kumar says "We are also planning to expand the capacity of pellet plant by setting up another 0.60 MT capacity by 2020."...More

Dr. Raghuram Rajan, Governor, Reserve Bank of India
The calibrated withdrawal will provide a boost to growth, reduce the financing distortions that are emerging in the market, and reduce the strain on corporate and bank balance sheets. We remain vigilant about external market conditions and will do what is necessary if they deteriorate once again...More

Vineet Mittal, Co-Founder & Managing Director, Welspun Energy
Speaking with Yash Ved of IIFL, Vineet Mittal says "Our current and planned Capex will need a total debt of Rs15,000 crore over the next three years."...More

Anurag Rajpal, Director & CEO, The American Swan Lifestyle Company
Replying to Yash Ved of IIFL, Anurag Rajpal says "Today, brands need to focus on using multiple channels not only to position the product/service but to also identify, engage and acquire the right audience."...More

Cherag Ramakrishnan, Director, Equinox Realty
Replying to Yash Ved of IIFL, Cherag Ramakrishnan says "The sector is bracing itself for the current slowdown in the economy. While there is capital, the uncertainty of the coming quarters will play itself out with slowing sales and higher input costs, especially finance."...More

Prakash Tulsiani, Managing Director, Gujarat Pipavav Port
Speaking with IIFL's Yash Ved, Prakash Tulsiani says "Our strategic location in Gujarat along the west coast of India and connectivity to key consumption markets of north are the key drivers of growth."...More

Ashish Garg, Managing Director , Promart Retail India Pvt. Ltd
Replying to Yash Ved of IIFL, Ashish Garg says, "Post initial investments of over Rs. 75 crore, we will be pumping in around Rs. 100 crore more in 2014 for expanding operations."...More

Muhammed Kazi, Project Manager, The Big 5 Construct India
In an exclusive interaction with Anil Mascarenhas and Manu Kaushik of IIFL, Muhammed Kazi says, "Technologies that are coming from India are very innovative, energy-efficient, environment-friendly and time-saving, which helps save time, money and cost."...More

Suneeta Reddy, Joint Managing Director, Apollo Hospitals Group
IIFL's Yash Ved provides you highlights of a conference call, where Suneeta Reddy says "Out of the total expansion plan of 3000 beds over the next 3 years, about 1000 beds at seven locations will be added in the current fiscal."...More

Prithviraj Kothari, Managing Director, RiddiSiddhi Bullions Limited
Replying to Yash Ved of IIFL, Prithviraj Kothari says, "Consumers nowadays consider jewellery not only as a fashion/status statement but also a form of investment."...More

Mark Zuckerberg, Founder, Chairman and CEO, Facebook
In an exclusive interview with CNN’S "New Day", co-host Chris Cuomo sits down with Facebook Founder, Chairman and CEO Mark Zuckerberg to discuss his latest initiative – providing internet access to the entire world...More

Hari Prakash Pandey, VP-Finance, HDIL
IIFL's Yash Ved provides you the highlights of a conference call, where Hari Prakash Pandey says, "HDIL is planning to launch housing project in Virar by October which will have a total area of four to five million sq ft and another project in Ghatkopar."...More

Ashish Puravankara, Joint Managing Director, Puravankara Group
IIFL's Yash Ved provides you the highlights of a conference call, where Ashish Puravankara says "Our pipeline of 7 new launches this fiscal is approximately 10.87 million square feet."...More

MP Taparia, Managing Director, Supreme Industries
In a telecon with IIFL’s Yash Ved, MP Taparia says, "Supreme Industries is eyeing sales of Rs. 3,900cr in FY14."...More

Prasoon Shrivastava- Director, Arkiplan International
Replying to Anil Mascarenhas of IIFL, Prasoon Shrivastava says, "Architects must act as ambassadors of green design and educate their client the benefits all tangible and intangible including the saving of direct cost in the construction of buildings."...More

KG Vishwanath, VP – Commercial Strategy, Jet Airways
IIFL's Yash Ved provides you the highlights of a conference call, where KG Vishwanath says, "Q2 domestic traffic trends will reflect seasonality. The industry capacity growth is expected to be very modest and this will result in overall yields and seat factors remaining stable for the balance part of the year."...More

Brotin Banerjee, MD and CEO, Tata Housing Development Company Ltd
Replying to Yash Ved of IIFL, Brotin Banerjee says "The company has a diversified portfolio of more than 55 million square feet under various stages of development. We are also looking at raising quasi-debt in the market and private equity."...More

Read More Leader Speak...

Industry Newsletters

Agriculture Newsletter – October 14 to 18, 2013

Automobile Newsletter – October 14 to 18, 2013

Aviation Newsletter – October 14 to 18, 2013

Banking Newsletter – October 14 to 18, 2013

Economy Round Up – October 14 to 18, 2013

FLAME Newsletter - October 23, 2013

Hotel & Tourism Newsletter – October 14 to 18, 2013

Infrastructure Newsletter – October 14 to 18, 2013

Insurance Newsletter - October 14 to 18, 2013

IT Newsletter – October 14 to 18, 2013

Metal & Mining Newsletter - October 14 to 18, 2013

Merger & Acquisition Newsletter – October 14 to 18, 2013

Mutual Fund Newsletter - October 14 to 18, 2013

Oil & Gas Round Up - October 14 to 18, 2013

Pharmaceuticals Newsletter - October 14 to 18, 2013

Real Estate Round Up – October 14 to 18, 2013

Retail Newsletter - October 14 to 18, 2013

Telecom Newsletter – October 14 to 18, 2013


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Principles and decision-making for wealth creation
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Good debt v/s bad debt = make v/s break
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Costs of breaking your financial commitments
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The delivery instruction slip book is similar to a cheque book and it needs to be handled with the same care as a cheque book ...More

How to open a demat account?
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The essence of Inclusion
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Five reasons why you should keep utilization of your credit
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All about Pension Fund Regulatory and Development Authority
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What is Forward Markets Commission?
Just as SEBI regulates the stock market, Forward Markets Commission regulates the commodity market in India...More

How to reduce interest payments on your credit card bills?
The truth is that credit card interest rates are extremely high i.e. between 36-42% p.a. ...More

What is an IPO green shoe option?
Green shoe option allows companies to intervene in the market to stabilise share prices during the 30-day stabilisation period immediately after listing...More

Top ten tips to keep in mind while taking a home loan
Thus, selecting the right home loan product in the market becomes much more important for many of us to avoid any surprises later...More

Five common investment mistakes to avoid
However, what separates them from regular investors is that they don't try to get even with their investments...More

Understand the basic concepts of VAT
Value added tax system is more transparent, uniform and less prone to tax evasion...More

Differences between shareholders and debentures holders
A shareholder is the joint owner of a company; but a debenture holder is only a creditor of the company...More

What are participatory notes?
Participatory notes are not used within the country. They are used outside India for making investments in shares listed in the Indian stock market...More

Should Indian Fund Managers disclose ownership?
The track record i.e. performance of funds managed by him across market conditions and time frames...More

How to improve your CIBIL Score from 600 to 750?
It’s no secret that about 80 per cent of loans granted are for the individuals with a credit score of over 750...More

What are foreign currency exchangeable bonds
FCEB involves at least two companies — the bonds are usually of the parent company, while the shares are of the operating company...More

10 things to do before you retire
You need to visualise your retired life well in advance and need to create a budget for your retirement...More

Grover Zampa wins five awards at prestigious Decanter Asia Wine Awards 2013
This makes Grover Zampa Vineyards the only Indian Wine Company to win 5 awards in one go and also to have all its wine entries winning at a single platform...More

Obesity accelerates wear and tear in joints
However, excess weight also severely hampers the health of our joints, and this is one aspect of obesity that is not much talked about...More

GM India launches All New Chevrolet Cruze
The new Cruze with its refreshed styling chisels a lasting impression with its bold dynamism of form, aggressive stance, muscular shoulders and taut styling crease lines...More

Micromax unveils Canvas Turbo at Rs. 19,990
Bringing in more agility and responsiveness, users can now browse, stream and download at a super-fast speed. Designed with precision, the full aluminum casing adds the style oomph to the sturdy smartphone...More

The Shiva Trilogy: Fastest selling book series in history of Indian publishing
It has also been released in the Indonesian language, Bahasa Indonesia. They will also be released very soon in other languages like Tamil...More

eBay India brings ZTE Open Firefox OS-powered smart phone
ZTE is the fourth-largest mobile phone manufacturer in the world. The brand attracted significant attention from the mobile industry earlier this year when previewed at the Mobile World Congress in Barcelona...More

MTS unveils commercial roll out of ‘3GPLUS’ telecom network
This announcement of historic significance comes within two weeks of the Company receiving its third spectrum carrier from Department of Telecom (DoT)....More

Taj Hotels Resorts and Palaces named best hotel chain in India
This accolade demonstrates the sterling effort of all at Taj Hotels Resorts and Palaces in continuing to provide exceptional services to its clients...More

Textron Marine & Land Systems introduces COMMANDO
The new 90mm Direct Fire vehicle is equipped with a CMI Defence Cockerill CSE 90LP weapon system, which offers day/night combat capability for tactical options ranging from counter-insurgency to conventional combat operations...More

Sonal Chauhan launches ‘Siyah’ by AlpaReena
Sonal Chauhan’s ghagra showcased the rich handicrafts in the form of antique zardozi combined with elements like Swarovski crystals for the hint of contemporary glamour...More

What to eat and not to eat when you are pregnant?
When the expectant mother wants to indulge in a fruitcake and other desserts that use alcohol as an ingredient, it is generally okay, because most of the alcohol burns off during cooking. If the fruitcake has been soaked in rum or other liquor after being baked, it is better she avoids it...More

ASUS launches its 1st exclusive store in Thanjavur
The store was inaugurated by R.Vaithiyalingam, State Minister for Housing & Rural development and M.L.A M. Rengasamy...More

Other Lifestyle News 

Mukta Arts celebrates 36 years of success with more to come....

Google boy to play KBC

Star Pravah presents Anubhuti

Katy Perry's album 'Prism' storms to #1 spot on India iTunes

DJ Armin Van Buuren signs licensing deal with Universal Music India

L'Oréal announces its new sustainability commitment for 2020

GROHE gives you new reasons to celebrate this festive season

SIT and FICCI collaborate to undertake scholarship for 16 Indian Cricket Students

Crime Patrol to air sexual harassment case based in Rajasthan


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