Vol. 766 - March 28, 2013    
   

BRICS Summit: PM reiterates resolve to assist Africa

Following is the text of the Prime Minister's statement at the BRICS Leaders - Africa Dialogue Forum in Durban on March 27, 2013:

"I am pleased to have this opportunity for a dialogue on how BRICS, and in particular India, could contribute to and benefit from the tremendous transformation that has made Africa the continent of hope today. India’s relations with Africa are rooted in the history of our solidarity against colonialism and apartheid. Mahatma Gandhi developed the tools of peaceful resistance on this very soil. Our engagement with Africa has come a long way since then and today we have built a new template for partnership in the form of the India-Africa Forum Summit. This partnership is guided by the vision and priorities of our African partners. India will assist Africa in charting its own course through institution-building, infrastructure development and technical and vocational skill development. The pan-Africa e-Network for tele-medicine and tele-education, which is functional in 47 countries in Africa, is a major success story of our institution-building partnership with Africa. We are ready to work with our African partners on e-governance to help bridge the digital divide in Africa. India is also happy to share its experiences of participative political institutions, local governance, media and civil society with Africa.

Human resource development and capacity-building assistance are at the core of India’s cooperation with Africa, because they enable and empower people to take charge of their own future. Over 15,000 African students are studying in India. Agricultural and scientific fellowships specially designed for African scholars are highly popular. Our assistance with vocational and entrepreneurial skill development, with particular emphasis on small and medium enterprises, is helping promote employability and job creation in Africa. Our concessional assistance is directed towards development of agriculture, infrastructure and industry. We are reviewing the terms and conditions of our lines of credit so that they meet the budgetary requirements of our partners, are in line with their own development priorities, utilize local resources and skills, and create sustainable revenue-generating assets. On the trade front, our non-reciprocal Duty Free Tariff Preference Scheme Scheme for LDCs has significantly enhanced the access of African LDCs to the growing Indian market...Read More

Our roadmap for the future should focus on consolidating: PM

India to be 3rd largest aviation market by 2020: Ajit Singh

Speaking at a function in the capital on the occasion of Aviation Day, the Minister for Civil Aviation, Ajit Singh said that, India would be the third largest aviation market by 2020. Addressing senior representatives of the aviation industry, Ajit Singh informed that studies suggest, the countries airports would be handling 336 million domestic and 85 million international passengers with projected investment to the tune of US$120bn by 2020. The Minister reminded the gathering that recently he took a decision to liberalize the process for airlines to aquire aircrafts by doing away with the Aircraft Acquisition Committee. He added that the Government has also taken steps to liberalize and grant traffic rights to Indian carriers to fly to new destinations around the globe.

Following is the entire text of the Minister’s speech:

"Sheila Dixit, Chief Minister of Delhi, Tony Tyler, DG of International Air Transport Association (IATA), S. Bomiddala, Chairman of GMR Airports, Hari Bhartia, former President CII, Chandrajit Banerjee, DG, CII, representatives of industry, members of media, friends, ladies and gentlemen. I am delighted to be here amongst this august gathering, the confluence of best minds in aviation industry from across India and abroad and welcome you all on the occasion of ‘Aviation Day’. It is really heartening to see that the first-off "Aviation Day" in India is being organized with the focus on economic benefits that aviation brings to the Indian economy. I am told that the most important branches of the Aviation value chain which are critically linked and interdependent including the airline industry, the airports and manufacturing, engineering and service industry through the CII are jointly organizing today’s session. I hope this realization of interdependencies among airlines, airport and the industry will also reflect in a growing shared agenda among the three; and reflect the growing areas of synergies between key players from the industry, to work towards the development of the aviation sector in India. To quote Henry Ford, "Coming together is a beginning; keeping together is progress; working together is success." I congratulate the organizers for bringing you all together on the "Aviation Day", a new beginning which I am sure will progress into success...Read More

Govt prepares white paper on New Civil Aviation Policy

Rate cut on small savings will not hit collections: C Rangarajan

The Finance Ministry move to cut interest rates by 0.1% on certain small savings schemes such as NSC will not hit collections in such schemes, C. Rangarajan, Chairman to the Prime Minister’s Economic Advisory Council (PMEAC) said on Monday. Mr Rangarajan told reporters on the sidelines of the 31st Skoch Summit in New Delhi.  According to Rangarajan, there is also scope for further repo rate (rate at which RBI lends to banks) cut by the Reserve Bank of India if core inflation were to remain below 4%. The country’s core inflation declined 3.8% in February 2013 from 4.1% in January 2013. Banks will be considering at an appropriate opportunity to act on their lending rates… as Government expenditure picks up in March, the liquidity position of banks may also improve, Mr Rangarajan added. Speaking about the current account deficit, Mr Rangarajan said CAD as a percentage of GDP is expected to be higher in FY12-13 at about 5%. At the same time, he mentioned that the capital flows will be adequate to cover CAD for the current fiscal. For FY13-14, Mr Rangarajan expects CAD to be lower than FY12-13 and capital flows covering that will not be a problem. He expects the Indian economy to grow at 6.5% for FY13-14.

India is not my top priority for investment: Lakshmi Mittal

Lakshmi Mittal, chairman and CEO of ArcelorMittal, the world's largest steelmaker, has reportedly said that India was not his top priority for investment. On the sidelines of a convocation of Indian Institute of Management, Ahmedabad, Mittal said: "I do not want to give you any timeline about my Indian projects...experienced so much of delay."

ArcelorMittal had inked an MoU with Orissa government in December 2006 to set up a 12 mtpa steel plant in Keonjhar district at an investment of Rs. 400bn, but it has been facing delay.

UPA unmoved as Mulayam talks Third Front again

The United Progressive Alliance, which is just about coming to terms with withdrawal of support from the DMK received another jolt. This time it was Samajwadi Party chief Mulayam Singh Yadav who on Sunday said the future belongs to coalition governments and asked all like-minded parties to come together. "Coalition government is the need of the country as no single party can come to power at Centre on its own strength. It is high time that parties, having the common goal to achieve social change, come together as in Maharashtra, Bihar and Uttar Pradesh," Yadav said. He was speaking at a function to commemorate the first death anniversary of veteran freedom fighter and pioneer of the Maharashtra co-operative movement, Nagnath Anna Naikwadi, at Valva village in Sangli. Dismissing Yadva's view on coalition politics, Congress General Secretary Digvijay Singh said he has not said anything new and that the party is not 'bothered'. "We work according to the situation. Whatever he has said is not something new." The Samajwadi Party has 22 MPs in the Lok Sabha and is currently providing outside support to the government. With the 18 MPs of Dravida Munnetra Kazhagam or DMK -- the second largest ally in the ruling coalition -- withdrawing support last week on human right violations of Tamilians in Sri Lankan, the UPA is left with no choice but to depend on the outside support of 59 MPs.  Of these 59 MPs, if the 22 Samajwadi Party were to withdraw support, the Congress and other allies would find it difficult to reach the halfway mark of 271 MPs required to form the government. On Sunday, Uttar Pradesh Chief Minister and Mulayam's son Akhilesh Yadav said his party is prepared to withdraw support to the UPA government. Speaking to Aaj Tak, Yadav hinted that the party may withdraw support during the current Budget session.

Cyprus govt may impose money controls ahead of bk reopen

There seems to be no respite to Cyprus' woes. Fears of a bank run have prompted the government to impose tough controls which include limiting the number of withdrawals and banning cheques. This even as banks in the tiny island nation reopen for the first time in nearly two weeks. Capital controls as imposed by the Central Bank of Cyprus will include a 300-euro daily limit on withdrawals. There will also be restrictions on transfers to accounts outside the country. A Finance Ministry statement said the controls will be in force for seven days. Banks in Cyprus have been shut since March 16 after the European Union presented a plan forcing losses on all depositors in exchange for a bailout. The plan sparked off protest and led to its Parliament rejecting the same. The country then approached Russia in hopes of a bailout but met with rejection. With time running out, Cyprus had no option but to agree to the terms of the bailout. According to the deal reached early this week between President Nicos Anastasiades and the trioka of EU, ECB and IMF, Cyprus would shrink its banking system. It would also force large losses on depositors at the country’s two largest lenders Bank of Cyprus and Laiki.

Cyprus Collapse: Race to the Mediterranean Gas Finish Line

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

Source: Economist

Economics for Everyone: Global Institutions - World Bank

Introduction:

World Bank or The International Bank for Reconstruction and Development (IBRD) aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services. Established in 1944 as the original institution of the World Bank Group, IBRD is structured like a cooperative that is owned and operated for the benefit of its 188 member countries. IBRD raises most of its funds on the world's financial markets and has become one of the most established borrowers since issuing its first bond in 1947. The income that IBRD has generated over the years has allowed it to fund development activities and to ensure its financial strength, which enables it to borrow at low cost and offer client’s good borrowing terms.

The World Bank is a vital source of financial and technical assistance to developing countries around the world. The World Bank is not a "bank" in the common sense. It is one of the United Nations’ specialized agencies, and is made up of 188 member countries. These countries are jointly responsible for how the institution is financed and how its money is spent. Along with the rest of the development community, the World Bank centers its efforts on the reaching the Millennium Development Goals, agreed to by UN members in 2000 and aimed at sustainable poverty reduction.

The "World Bank" is the name that has come to be used for the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together these organizations provide low-interest loans, interest-free credit, and grants to developing countries. Some 10,000 development professionals from nearly every country in the world work in the World Bank's Washington DC headquarters or in its 109 country offices...Read More

How to meet fiscal target and realise better value for PSUs?

How to meet the fiscal target and realize better value for PSUs? We suggest the Government (1) meet its divestment and fiscal targets for FY2014 through enhanced dividends from the PSUs and (2) divest them later after improving their financials through a better policy framework. With the top-10 PSUs sitting on Rs1.4 tn of net cash (as of September 30, 2012), we believe the Government can easily meet its fiscal targets without conducting ‘forced’ divestments.

Distribute the cash please; Coal India alone can meet half the divestment target.

We would suggest that the Government explore the option of higher dividends from cash-rich PSU companies (see Exhibit 1). In particular, we see little logic for selling Coal India at depressed valuations (see Exhibit 2 for its valuation) when its stock price has come off (see Exhibit 3) due to the market’s expectation of an OFS and coal pricing uncertainty. Coal India’s capex plan at Rs50 bn for FY2014BE is quite small relative to its humongous cash balance (Rs750 bn; end of FY2013E). More important, Coal India’s cash balance will keep on rising over the next few years (see Exhibit 4) despite its capex plans. Coal India can easily give Rs200 bn of dividends and dividend distribution tax (DDT) of Rs34 bn, with the Government receiving Rs214 bn for its 90% holding.

Higher dividends will also address the issue of misuse of cash.

One of the reasons for the weak performance of PSUs over the past 1-2 months has been growing concerns about use of cash. The Government intends to use the cash balance of the PSUs as a way to kick-start the capex cycle. As can be seen in Exhibit 5, the FY2014BE (as per Union Budget) does not show any great spike in capex of PSUs. They seem to be investing sensibly based on their core plans. The Street has fears of PSU companies being made to invest in non-core businesses; this is true for NMDC with concerns about it being forced to invest in downstream steel plants...Read More

What role can big data play in achieving innovation within firms?

The Saïd Business School, University of Oxford will host the 7th annual Oxford India Business Forum on 5 April, 2012 at the Taj Mahal Palace Hotel in Mumbai. The Forum will provide a platform for global business leaders, academics, policy makers and sector specialists to debate some of the most pertinent issues affecting business, economic and social growth in modern India. Now well established as an annual event on the India calendar, the 2013 Forum will focus on the role big data can play in achieving strategic change and innovation within firms. The panel of leading experts will include the Dean of Sa?d Business School, Professor Peter Tufano, Professor David Upton , Professor Viktor Mayer Schönberger, Oxford Internet Institute, K Ananth Krishnan, Chief Technology Officer at Tata Consultancy Services and Satya Ramaswamy , Vice President & Global Head of TCS Mobility, Tata Consultancy Services. They will discuss how massive flows of data can be harnessed for competitive advantage, before an audience of 150 friends and alumni of Oxford, leading business figures and policy-makers. Big data is much discussed but ill-defined and can mean anything from social media analytics, real-time data, next generation data management, to managing huge quantities of data including that from non-traditional sources. Some companies have been collecting and utilizing big data for many years, but most are in the early stages of big data adoption. Increasingly boardrooms are starting to appreciate that analytical sophistication can bring competitive advantages. Two factors are facilitating increased big data use within organisations: the digitization of many activities and transactions has created new types of large and real-time data; new advanced analytics technologies enable organisations to extract insights from data in new ways with speed and accuracy...Read More

Mexicans paid most for a hotel room in India: Hotel Price Index

According to the latest Hotel Price Index (HPI) report by Hotels.com, the global hotel bookings expert, travellers from Mexico parted with the most money to stay in India. They paid on an average Rs. 7,766 in 2012 which is 19% more than what they paid in 2011. Travellers from the Middle East came in second at INR 7,670 followed by the Japanese at INR 7,648. Further, there was a good spread of nationalities in the Top 10 with two more from Asia as well as two from North America and one each from Europe, Latin America. Of the key inbound markets, the Americans were at No 5 at 7,448 INR after a 7% increase and the British were at No 9 on 6,941 INR. 

Ranking
Country/Region
2012
2011
% change
1
Mexico
7,766
6,515
19%
2
Middle East
7,670
7,079
8%
3
Japan
7,648
7,205
6%
4
Hong Kong
7,599
5,820
31%
5
USA
7,448
6,985
7%
6
Brazil
7,410
6,245
19%
7
South Africa
7,290
6,794
7%
8
Singapore
7,139
6,220
15%
9
United Kingdom
6,941
6,255
11%
10
Canada
6,705
6,077
10%

Of the 32 nations included in the report, 25 paid more in 2012 than the previous year in the country. The report also reveals the list of top 10 Indian destinations preferred by international travellers. It has a good mix of the country’s metropolitan areas and tourist hot spots. The capital city Delhi ranks number 1 amongst international travellers followed by Mumbai. Goa, the popular beach and party destination comes in third. 

One of the most famous buildings in the world, the Taj Mahal helped Agra to bag the 7th place on the list, attracting visitors from all over the world. On the other hand, 2 cities from ‘God’s Own Country’, Kerala are seen in the top 10 list - Cochin on the 9th spot and Thiruvananthapuram on the 10th. 

Rank Destination
1 Delhi
2 Mumbai
3 Goa
4 Bengaluru
5 Chennai
6 Jaipur
7 Agra
8 Hyderabad
9 Cochin
10 Thiruvananthapuram

Hinduja Bros richest Asian in Britain, topple LN Mittal

The battle of the Asian billionaires has today seen a twist in the fortunes of the man who for the past four years has sat comfortably at the top of the money mountain.  For the first time in four years, since the Asian Media & Marketing Group (AMG) has been publishing the Asian Rich List, steel billionaire Lakshmi Mittal no longer holds the title of the richest Asian in Britain. The unique accolade has been usurped by the London-based Hinduja brothers, whose net worth is estimated to stand at a staggering £12.5 billion, an increase of £3 billion over the past 12 months. The Hindujatrading empire is spread virtually over five continents and run by four brothers and their children.  Steel magnate Mittal, who seemed unreachable at the top of the list, has had a tough year, with a drop in wealth of £2.5 billion, taking him to £11bn. Mittal has been largely hit by the fall in the share value of Arcelor Mittal, which has been beset by the falling global demand for steel. In what has been deemed by many to be one of the toughest years for the economy, this year's Asian Rich List, released exclusively at the Asian Business Awards today, sees the number of Asian billionaires more than doubling in a year. The Asian Rich List features seven billionaires, compared to three in the 2012 list.  With a combined overall net worth of nearly £46bn, (an increase of £4bn since 2012), the 101 millionaires certainly seem to be bucking the global trend. This year’s list sees eight new entries with a combined value of £767 million, with the highest new entry, metal mining magnate, Rajesh Satija storming in to the Top 20 with a valuation of £390m.

As the UK economy struggles to overcome recession, the increasing demand for discount retail stores is creating new fortunes. Simon, Bobby and Robin Arora, have increased their fortune by almost £800m, by selling a stake in their hugely successful chain of discount stores B&M to private equity in this financial year, whilst the Lalani family of 99p Stores fame continue to travel steadily up the list. Interestingly, as their wealth grows, so does the philanthropic commitment of the millionaires, with many of them having set up their own charitable foundations and trusts. Retail and property tycoon, and the man who brought Domino’s pizza to the UK, Rumi Verjee is a prime example with the Rumi Foundation selecting and donating to key projects and charities like Mosaic to give disadvantaged youngsters in the UK greater opportunities. Sir Anwar Perwez, who has been a consistent entry in the Top 10 set up the Best way Foundation and 2.5% of profits from the Best way Cash & Carry business are donated to the Foundation to support projects in the UK and Pakistan...Read More

Banks to follow priority sector lending rules strictly: RBI

The Reserve Bank of India (RBI) on 22nd March directed banks that contingencies liabilities and off-balance sheet items cannot be considered as priority sector lending. According to RBI, some banks are violating the priority sector lending rules to achieve the annual target. It has now told these banks to declassify the contingent liabilities and off-balance sheet items as priority sector loans with retrospective effect. Banks are stipulated to lend 40% of their total adjusted net bank credit (ANBC) of last financial year to priority areas like agriculture, small manufacturing units or exports. They are supposed to lend 18% of the ANBC to agriculture and allied services as a sub target. "Banks are advised to declassify such accounts with retrospective effect, where a contingent liability / off-balance sheet item is treated as a part of priority sector target achievement," RBI said in a press release. However, the banking regulator has not provided the names of the banks violating the rule. "We also clarify that all types of loans, investments or any other item which are treated as eligible for classifications under priority sector target and sub-targets should also form part of adjusted net bank credit," RBI added.

Efficacy of Monetary Policy Rules in India

Political uncertainty and limited monetary support dilutes confidence

The Indian economy (and its asset markets) encounters strong headwinds from all sides, hurting the investor sentiment and confidence. The Euro zone crisis strikes back through Cyprus and there is fear of more in pipe-line. There is absolute lack of confidence in the economic recovery of Euro zone with struggle to stay afloat. On the domestic front, RBI maintains its hawkish monetary stance. The stake-holders anticipated RBI to be more concerned on growth taking comfort from sharp down-trend in headline WPI and core inflation. The hope was built on the presumption that RBI will shift into loose monetary policy stance in recognition of shift into tight fiscal policy stance.

It is obvious that sustainability of tight fiscal policy is dependent on quick shift into higher growth trajectory. It is not that it is possible only with favourable monetary conditions (of low interest rates and surplus system liquidity) but it will definitely be a catalyst to the process. The bolt from the blue is the political uncertainty building doubts over the ability of minority UPA to roll-out key reforms covering FDI limit enhancement in select sectors, tax (and land) reforms and more importantly igniting the pick-up of infrastructure (and core) projects. The market is not expected to get into bullish mode unless the fiscal consolidation is achieved through growth pick-up and not through cost compression. Government’s disinvestment process (for one-off revenues) has limited appetite from investors and the bail out from PSU FIs is not seen in good light. All told, dynamics are very complex at this stage with strong cross-winds inhibiting combined strength of political, fiscal and monetary forces come into play for lifting the growth trajectory in FY14. What is the impact on markets?...Read More

More than 60% of IPOs are trading below issue price: SEBI

India Inc’s propensity to raise money from the capital markets has shown a very significant decline, SEBI (Securities and Exchange Board of India) chairman UK Sinha said. According to Mr Sinha, India’s decline is much more significant among the BRIC (Brazil, Russia, India and China) countries or rest of the world. Mr Sinha was speaking at a seminar organised by the Confederation of Indian Industry (CII) in Kolkata. Indian companies raised Rs. 670 billion from the primary market in 2010-11, while it came down significantly to around Rs. 160 billion in 2011-12. Till February 2013, domestic companies have raised around Rs. 144 billion from the primary market. This is a big decline, the SEBI Chairman said further. Many corporates, who have undergone the whole process of getting the final observation from SEBI, have not gone ahead with the fund raising. They have either withdrawn their request for raising money or have allowed the final observation, which is valid for one year, to lapse," Mr Sinha added. He added that around Rs. 600 billion of fund raising proposals have been shelved by India Inc in the past three years. More than 60% of IPOs (initial public offers) in the last three years the shares have been trading below the issue price month after month. SEBI is taking a number of initiatives to encourage companies raise funds from the capital markets. The e-IPO facility, which allows retail investors to submit bids electronically for IPOs, has been introduced in 400 locations and SEBI is planning to expand it to 1,000 locations soon.

SEBI bars Zenith promoters from stock market

Imparting education is necessary: SEBI

SEBI to set up effective surveillance system in FY13-14

Find 15% FY14 Earnings Growth For Sensex Optimistic: HSBC

HSBC Global Research has analysed the third-quarter earnings of companies in the MSCI India basket. According to it, the recent earnings season suggest flat earnings growth for MSCI India. The brokerage sees India's weak GDP growth rate now affecting corporate revenue. The latter was up only 10% in the period under review and is the slowest growth since September 2009. "Revenue growth came down from 27% YoY in March 2010 to 10% YoY in December 2012." Net profit was up only 3% in Q3 FY13 in continuation with the disappointing trend, it said in a report titled 'Slice & dice: Q3 FY13'. Sectorally, it finds contraction in earnings in telecom, industrials, and consumer discretionary while defensives sectors like consumer staples, IT, healthcare and utilities saw the highest growth. It feels the consensus FY14 forecast of 15% earnings growth for the Sensex looks optimistic. But all is not gloom for investors. FIIs, it said, continue to buy into Indian markets despite the lackluster earnings performance. "Foreign investors have injected nearly $34 billion since January 2012 which led to multiple expansions. Currently, FII ownership in Indian market is at a record high."

FII investments in P-Notes rises 7.3% to Rs. 1.62 trillion

Foreign institutional investments (FIIs) into Indian markets through participatory notes (P-Notes) have increased around 7.3% to Rs. 1.62 trillion in January against Rs. 1.51 trillion in December 2012. The cumulative value of P-Note investments in Indian markets comprising equity, debt and derivatives was at Rs. 1,62,139 crore at the end of January against Rs. 1,51,084 crore in December 2012, according to the latest data by SEBI (Securities and Exchange Board of India). As a percentage of the total assets under the custody of FIIs, the foreign investments through P-Notes have increased to 11.83% in January against 11.3% in December 2012.

Mkt size of direct selling ind pegged at Rs 63,851mn

Indian Direct Selling Association (IDSA) in association with PHD Chamber of Commerce and Industry, released Annual Survey 2011-12 on the Indian Direct Selling Industry.   The industry has continued to show remarkable growth and reached at 22% during 2011-12, expanding from INR 52,294mn in 2010-11 to INR 63,851mn in 2011-12. The robust growth in the segment has been contributed to 22.5% growth in organized sector and 17.68% growth in the unorganized segments of the industry during 2011-12. The industry grew at 24% during 2009-10, 17% during 2008-09, 13% during 2007-08 and 9% during 2006-07. "The Indian Direct Selling Industry has scaled remarkable growth over the years and has been expanding its horizons in India as a rapidly emerging alternate distribution channel says Dr. S.P. Sharma, Chief Economist & Head of Research, PHD Chamber of Commerce and Industry. ". The annual survey reveals that the concentration of sales of Direct Selling Industry in the Southern region has now started diversifying to the other regions of the country. Average turnover of Northern region reaches at 20% in 2011-12 from 15%in 2010-11; Average turnover of Southern region has reduced to 39% in 2011-12 from 44% in 2010-11; The Northern Eastern region has exhibited remarkable growth at around 43% Sharma said. According to Dr. S P Sharma, two Indian states have drafted out more detailed and focused guidelines for direct selling companies including Kerala and Rajasthan in November 2011 and October 2012, respectively. The Central government had constituted a committee to strengthen the regulatory and supervisory cooperation among agencies of both the State and Central governments with regards to fraudulent financial pyramid schemes. They should have the license to do business in India and should file all mandatory returns. Its mandatory to have trademarks or licences...Read More

Indian market relatively resilient: MasterCard

MasterCard Worldwide released a new Insights Report which assesses the extent to which a slower growing global economy and specifically a slowdown in merchandise exports, will impact the resilience of consumer confidence in key markets in Asia/Pacific and the Middle East. The report titled "Consumer Confidence in a Weak Global Economy: An Index of Resilience 1Q, 2013", is based on a correlation analysis of the MasterCard Worldwide Index of Consumer Confidence (MWICC). The Index is Asia/Pacific’s most comprehensive and longest running consumer confidence survey - against merchandise export growth for 17 countries across Asia/Pacific and the Middle East. Markets with the highest level of consumer confidence, as well as those that are most resilient to a slowdown in merchandise exports have the strongest potential to weather the economic downturn.

"The strong growth in global demand that we saw during the decade of 2000-2010 was unique in many ways, underpinned by an unprecedented increase in global liquidity which provided a tremendous boost to the export-oriented economies in Asia/Pacific and Middle East. But growth in global demand will be a lot weaker than before. Putting it bluntly, a repeat performance is highly unlikely," noted Dr. Yuwa Hedrick-Wong, global economic advisor for MasterCard Worldwide, and co-author of the report. "For many markets in the Asia/Pacific and the Middle East, especially the export-oriented ones, the outlook of a slower growing global economy will mean weaker demand for exports. Thus, their ability to leverage domestic demand, especially private consumption, will be critical in supporting stronger economic growth. The extent to which they may succeed will in turn depend on how resilient consumer confidence is in these markets," he added.

India ranked an overall fourth on the new MasterCard Consumer Confidence Index as a market whose consumer confidence is less affected by changes in its merchandise exports. India’s consumer confidence is ‘neutral’ with respect to changes in merchandise export growth. Moreover, India's consumer confidence regarding employment and regular income is more resilient than the overall consumer confidence to changes in merchandise export growth and has found a place in the "relatively resilient" and "very resilient" categories...Read More

Agencies issue updated leveraged lending guidance

Federal bank regulatory agencies on 21st March released updated supervisory guidance on leveraged lending, which has been increasing since 2009 after declining during the financial crisis. The guidance from the Federal Reserve Board, the Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (the agencies) covers transactions characterized by a borrower with a degree of financial leverage that significantly exceeds industry norms. The guidance replaces guidance issued in April 2001. Before the financial crisis, the volume of leveraged credit transactions grew tremendously and participation by non-regulated investors willing to accept looser terms increased. While leveraged lending declined during the crisis, volumes have since increased and prudent underwriting practices have deteriorated. For example, some debt agreements have included features that weaken lender protection by excluding meaningful maintenance covenants and including other features that can limit lenders' recourse in the event of weakened borrower performance. In addition, capital and repayment structures for some transactions, whether originated to hold or to distribute, have been aggressive. Management information systems at some institutions have proven less than satisfactory in accurately aggregating exposures on a timely basis. It is important that banks provide leveraged financing to creditworthy borrowers in a safe and sound manner.

The guidance issued focuses attention on the following key areas:

  • Establishing a sound risk-management framework: The agencies expect that management and the board of directors identify the institution's risk appetite for leveraged finance, establish appropriate credit limits, and ensure prudent oversight and approval processes.
  • Underwriting standards: An institution’s underwriting standards should clearly define expectations for cash flow capacity, amortization, covenant protection, collateral controls, and the underlying business premise for each transaction, and should consider whether the borrower’s capital structure is sustainable, regardless of whether the transaction is underwritten to hold or to distribute.
  • Valuation standards: An institution’s standards should concentrate on the importance of sound methods in the determination and periodic revalidation of enterprise value.
  • Pipeline management: An institution should be able to accurately measure exposure on a timely basis; establish policies and procedures that address failed transactions and general market disruptions; and ensure periodic stress tests of exposures to loans not yet distributed to buyers.
  • Reporting and analytics: An institution should ensure that management information systems accurately capture key obligor characteristics and aggregates them across business lines and legal entities on a timely basis, with periodic reporting to the institution’s board of directors.
  • Risk rating leveraged loans: An institution’s risk rating standards should consider the use of realistic repayment assumptions to determine a borrower’s ability to de-lever to a sustainable level within a reasonable period of time.
  • Participants: An institution that participates in leveraged loans should establish underwriting and monitoring standards similar to loans underwritten internally.
  • Stress testing: An institution should perform stress testing on leveraged loans held in portfolio as well as those planned for distribution, in accordance with existing interagency issuances...Read More

Room for further rate cuts quite limited: Nomura

The Reserve Bank of India (RBI) recently estimated its neutral nominal policy rate at around 6%.1 This holds when WPI inflation is close to the target 5% and the output gap is zero. In reality, WPI inflation is around 2 percentage points above the desired rate, while growth is below potential. The RBI assumes potential output growth at around 7%, but we believe it has fallen to 6.0-6.5%. Using actual growth and inflation data, we find that policy rates have broadly followed the Taylor rule. Based on our year-ahead forecast that the negative output gap will gradually close and WPI inflation will be sticky at around 7%, the Taylor rule suggests that policy rates are very close to the neutral rate currently and, in fact, should move marginally higher.  Taylor rules do have limitations, but they reiterate the RBI’s guidance that room for further easing is "quite limited."

CII Biz Confidence Index rises to 51.3 in Q4 FY13

Mirroring the impact of the recent reforms initiated by the government to boost growth, CII Business Confidence Index, which had slipped below the psychological 50 level mark in the third-quarter of the current fiscal, rose to 51.3 in the final quarter. Welcoming the development, Chandrajit Banerjee, Director General, Confederation of Indian Industry, said that "Though the index has strengthened in the final quarter of the current fiscal, it is too early to assume that the slowdown has bottomed out and the green shoots of recovery have begun to emerge". The 82nd Business Outlook Survey is based on the responses from 175 members. Majority of the respondents (53.0%) belonged to large-scale firms, while 14.8% were from medium-scale firms and 25.2% and 7.0% each were from small-scale and micro firms respectively. Further, 67.2% of the respondents were from manufacturing sector while 31.0% and 1.7% were from services and primary sectors, respectively. Majority of the respondents rated high levels of corruption, persisting inflation, threat to continuation of reform process, escalated interest rates and political uncertainty as the major concerns. Encouragingly, respondents did not perceive global economic/political uncertainty as a major worry at this moment.

Survey indicates that most of the respondents (43.5%) expect GDP growth to come in a range of 5.0-5.5% for 2012-13 as compared to the advance estimates of 5.0% released by CSO recently. In an indication of improvement in economic growth in 2013-14, majority of the respondents expect GDP growth next year to conform to the official estimates of 6.1-6.7% as forecasted in the Economic Survey. However, "For matching up to the government growth estimates for the next fiscal, it is critical that we remain focused on introducing the critical reform measures. The Union Budget 2013-14 has indeed covered some distance in this direction, but more measures are warranted" stated Mr. Banerjee. On inflation front, there are no major surprises. 42% of respondents expect average WPI inflation to lie in a range of 7.0-8.0% in the current fiscal. For 2013-14, however, most of the respondents (37.4%) expect inflation to moderate and come down in a range of 6.0-7.0%, which should help RBI to focus more on growth revival next year...Read More

CII raises concerns on the Competition (Amendment) Bill

HDFC ERGO launches ‘Student Suraksha - Student Overseas Travel’

Today studying abroad sounds thrilling and exciting. It not only allows students to live their aspiration but also gives them a direction to realise their dreams. But living away from home is not easy.  There is always a need for someone to take care of your worries and be there with you at the time of emergency. Therefore it is important for all students to chalk out a plan that can help them stay hassle free and concentrate on their study abroad.  HDFC ERGO General Insurance Company Limited, India's' 4th largest private sector general insurance company, announced the launch of its new policy – ‘Student Suraksha – Student Overseas Travel’, a policy specially designed keeping in mind the needs of Indian students who are planning to pursue higher education abroad and for existing Indian students who are already studying abroad. HDFC ERGO ‘Student Suraksha – Student Overseas Travel’ policy provides cover against unforeseen expenses such as hospitalization, accidental death, permanent disablement, dental treatment. The policy also provides additional covers such as personal liability, bail bond, sponsors protection, study interruption, loss of passport and checked-in baggage loss.

The policy includes worldwide cover for students from 30 days to 2 years without any medical or health check-up requirements. This policy can be bought by an individual between the age 16 to 35 years who is a full-time registered student of an education course outside India. The special feature of the policy is that it pays amount incurred in the event of a visit by one Immediate Family Member abroad in case of medical emergency or vice-versa. Speaking on the new ‘Student Suraksha – Student Overseas Travel’ policy, Mr. Mukesh Kumar – Member of Executive Management, Head - Strategic Planning, & Marketing, HDFC ERGO General Insurance said, "At HDFC ERGO, we believe in nurturing talent and taking utmost care of the needs of aspiring youth. With the rising medical and travel costs abroad, our policy comes as a pocket friendly solution for students. It is a comprehensive plan designed to offer students a safe and secured stay abroad." He further added, "With universities abroad making health cover mandatory for overseas students, it is gaining popularity amongst students. It is also more cost-effective for students to buy an insurance policy in India as typically the products here are better priced than the ones available abroad. Increasingly students are opting for this and we visualize that the demand for such products will only increase in the years to come."  To enroll for the ‘Student Suraksha – Student Overseas Travel’ policy, one can chat with the customer service team or make a call on the toll free helpline, 1800 2 700 700 for further support.

IRDA to investigate money laundering allegations

ING completes sale of interest in ING Vysya Life

ING on 22nd March said that it has completed the sale of its 26% interest in ING Vysya Life Insurance Company Ltd to its joint venture partner Exide Industries Ltd. The divestment, which does not have a material impact on ING Group’s results, is part of ING’s earlier announced process to divest ING’s insurance and investment management businesses. The process to divest the other insurance and investment management businesses in Asia, including ING’s fund management operations in India, is on-going. Any further announcements will be made if and when appropriate. The divestment does not impact ING Vysya Bank, a publicly listed Indian bank in which ING has a 44% stake.

Govt releases 104lakh tons of sugar for open market sale

The Central Government has decided to make available quantity of 104 lakh tons of sugar, as non-levy quota for open market sale, for the 6 months of April, 2013 to September, 2013, as per the details given below: -

Particulars: Quantity in lakh tons

Normal quota: 104.00

The sale and delivery/dispatch period for the above quota would be from 1st April. 2013 and upto 3oth September, 2013, without any inter-month restrictions. The non-levy quota would be apportioned and released only among those sugar mills which have submitted online production returns at the time of release Mill wise quota apportionment would discount the entire non-levy quota released for the period of October, 2012 and upto March, 2013 and any quantity left unsold would not be not be available for sale during the period of April, 2013 to September, 2013. There would be no conversion of unsold non-levy quota into levy quota during the period of current release, i.e. April to September, 2013. Further, Government has also released, during this month, 3.69 lakh MT of levy sugar for meeting requirements of Public Distribution System for the months of April – May, 2013.

Govt sets levy sugar quota of 3.69 lakh MT for April

Packaged rice variants double in less than a year

While rice remains an important part of the food and drink retail landscape across Asia Pacific, new research from Mintel highlights that it is India leading the way in the packaged rice market across the region. Indeed, Mintel’s new rice research reveals that new product development in packaged rice in India has more than doubled in the past two years, with over 200 packaged rice launches in 2012 compared to around 100 in 2011. Furthermore, in 2012, India was the most active country in terms of new product development, accounting for 50% of packaged rice introductions in Asia alone, followed by Vietnam and Thailand which accounted for 10% and 8% respectively of NPD in the region. Malaysia came forth with 7% of new packaged rice launches in APAC followed by Australia with 6%. Overall, the Indian retail rice market stood at INR 122 billion in value and 2 million kg in volume in 2012, from INR 75.56 billion and 1.2 million kg in 2010. And there is further good news for the market in the future too, as Mintel expects the market to grow even further to reach an estimated INR 333 billion and 4 million kg by 2016 (+175%)...Read More

Hindustan Motors inks alliance with IndusInd Bank

Hindustan Motors Ltd. (HM), India’s pioneering automotive major, has signed a deal with reputed IndusInd Bank in a bid to provide easy and trouble-free financing facilities to its customers all across the country. The tie-up shall facilitate prompt financing facility to potential customers in rural and semi-urban areas for buying cost-effective HM vehicles at competitive interest rates. According to the agreement, the bank will work in close coordination with the HM dealers for providing car loans for both commercial and passenger vehicles.  The facility will be available through IndusInd Bank’s country-wide network of 254 branches spread across 180 geographical locations in 28 states and 6 union territories. The memorandum of understanding was signed by HM’s Uttarpara unit Financial Controller & Head IT, Dibyendu Chatterjee, and T.A Rajagopallan, Senior VP-Consumer Finance of IndusInd Bank, here on March 25. Commenting on the development, Uttam Bose, MD & CEO, Hindustan Motors Ltd., said, "Customer-centricity is HM’s credo. Our objective is to make purchase of HM vehicles easy and pocket-friendly for customers...Read More

Tata Motors to undertake shutdown for 11 days: reports

Tata Motors will undertake a 11-day shutdown to carry out maintenance of equipments at its Jamshedpur plant from March 27, says media reports. Reports said that the auto company will undertake shutdown from March 27 to April 6 to carry out maintenance of equipments.

Ford cuts global water use 8.5 % per Vehicle from 2011 to 2012

Ford reduced the average amount of water used to make each vehicle by 8.5% between 2011 and 2012 – putting the company more than halfway toward its current goal of using an average of just 4 cubic meters per vehicle globally by 2015.  Since 2000, Ford has reduced the amount of water it uses in everything from cooling towers to parts washing and paint operations by 10.6bn gallons, or 62%. That’s equal to the amount of water used by nearly 99,000 U.S. residences annually, or enough to fill 16,000 Olympic-size pools. Ford’s reduced consumption rates mean even more to regions around the world struggling with water-related issues like drought and extensive population growth.

Ford’s water reduction success is a result of the company’s commitment to reduce the amount of water it uses by aggressively monitoring and managing just about every drop of water going into and out of its facilities and properties, says Andy Hobbs, director, Environmental Quality Office. Since 2000, Ford decreased the total amount of water used around the world annually from 64mn cubic meters to 24mn cubic meters. "That’s about 10.6bn gallons of water that was conserved and went to use somewhere else," says Hobbs.  Ford voluntarily launched its Global Water Management Initiative in 2000, putting in place ways to manage water conservation, quality and reuse of storm and process water. Ford’s water strategy complements the company’s overall Code of Human Rights, Basic Working Conditions and Corporate Responsibilities.

"Ford recognizes the critical importance of water, and is committed to conserving water and using it responsibly," says Robert Brown, vice president, Sustainability, Environment and Safety Engineering. "Many vehicle manufacturing processes require water and the resource is used at every point in our supply chain." Ford aims to use an average of 1,056 gallons of water to make each vehicle globally –consistent with its overall goal of a 30% reduction in the amount of water used per vehicle between 2009 and 2015. That is slightly more than the 1,000 gallons fire engine tankers in the U.S. are required to contain in their tanks. One cubic meter of water is equal to 264 gallons...Read More

Mahindra Two Wheelers launches interactive website for Mahindra Pantero

Mercedes-Benz opens first luxury car showroom in Vadodara

Mercedes-Benz announced the launch of its dealership "Benchmark Cars" in the city. Conveniently located at Kalali Vadsar Road, the new dealership is spread over an area of 35,000 sq. ft., carrying an investment of INR. 70 million and created within a record time of 10 months. Eberhard Kern, Managing Director and CEO of Mercedes-Benz India elaborated: "With presence across 33 cities through 59 outlets, Mercedes-Benz clearly demonstrates its commitment to the tier-II and III markets in India. Vadodara is an important business hub; and one of the high potential cities of India. It is therefore natural for us to set-up operations here. Benchmark Cars has an enviable record of delighting customers and they have the mandate to ensure the highest levels of sales as well as vehicle ownership experience for our patrons in the city." Benchmark Cars started as a dealer for Mercedes-Benz in 2009 and over the years have spread across to 5 locations (Ahmedabad, Surat, Vadodara, Indore & Kolkata). With clear focus upon customer delight and robust processes, Benchmark Cars has won several recognitions within Mercedes-Benz India dealerships including the best Customer Satisfaction, Best Service Quality, Best Service Awards in 2011. Till date Benchmark Cars sold close to 2000 cars wearing the badge of the Three Pointed Star...Read More

Thomas Cook plans to sign up contracts in Europe: reports

Thomas Cook is planning to negotiate and sign up contracts directly with suppliers such as hotels or car rental companies in Europe, according to reports. Reports stated that this initiative will give Thomas Cook an edge, enabling it to offer competitive rates. The foreign exchange business contributes 60% of Thomas Cook’s revenue; the rest comes from travel, says report.

Spicejet says not in talks with foreign player for FDI

Spicejet Ltd has reportedly said that they are not in talks with foreign player for FDI. SpiceJet is planning to grow revenue from Canada's Bombardier Inc planes to 20% from 11% in 12-20 months, chief executive officer Neil Mills reported said.

DGCA deregisters 15 aircraft operated by Kingfisher Airlines: reports

AirAsia-Tata may offer free seats to passengers: reports

AirAsia Bhd, the region’s biggest budget carrier, is reportedly planning to offer some seats for free when it starts flying in India. The operator may expand similar promotional offers in Malaysia, according to reports. Reports stated that passengers would have to pay taxes and other fees. AirAsia, which is awaiting a licence after winning the Indian government’s approval this month to form a joint venture, is targeting to start operations by end-2013.

BIAL hosts first cooperative aviation security programme - Asia Pacific

Bangalore International Airport Ltd. (BIAL) in co-ordination with the International Civil Aviation Organization (ICAO) hosted the first CASP-AP (Cooperative Aviation Security Programme – Asia Pacific) specialized quality control workshop at the airport. Raja Srivastava, IPS, Additional Commissioner, Bureau of Civil Aviation Security, New Delhi and M N Chaturvedi, Consultant, Ministry of Civil Aviation, attended the five-day programme as observers from the Govt. of India. This workshop was facilitated by John ‘Hondo’ Gratton and Graham Lockwood, CASP-AP Bangkok. This is the first time a workshop of this nature has been conducted in India and BIAL is the first airport in India to host this workshop. The main objective of this workshop is to ensure compliance with the international aviation security conventions, ICAO Standards and Recommended Practices (SARPs) and related guidance material by enhancing the aviation security capabilities of the participating states and administrations.

It also aims to achieve a greater degree of harmonization in civil aviation security matters by creating a CASP-AP Civil Aviation Security Standing Structure (CASS) for AVSEC information exchange, technical assistance, co-operation and co-ordination, as well as for the training of aviation security personnel. Delegates from Civil Aviation Authority of Bangladesh, Bhutan and Nepal attended this five-day workshop on Specialized Quality Control. Over the past 10 years this programme has been regularly conducted by the ICAO to airports to address quality control. This approach is substantially different from the previous training activities and has found to be a successful model of capability increase for smaller States in aviation security related fields...Read More

Composites industry seek govt support to become major employer

The Indian Composites Industry has appealed to the government to provide much needed benefits to make this industry the highest employment generator in the country. Today, composites find applications in almost all industry sectors and, if the ministry wants, it can provide the required support to generate increased employment within the industry, said Subhash Vithaldas, Chairman of Fibre Reinforced Plastic (FRP) Institute, today at the press conference to announce the forthcoming event, ICERP 2013 to be held at Bombay Exhibition Centre, Goregaon, Mumbai from 4nd to 6th April, 2013. "Today, composites can be used in various product categories in almost in all sections of Industry, and with increased usage, employment is bound to grow,’’ said Vithaldas. Citing an example of the potential of this industry for employment generation, Vithaldas commented that today a known composites manufacturing unit with an annual turnover of Rs 100 crores, employs an average of 600 employees, which illustrates the potential to generate jobs. The Global composites market is likely to grow at nearly 4 per cent over the next five years. The Indian composites industry could grow at 10-15 % during this period. Current Indian production of composites is estimated at about 3 lakh tonnes, about 3 per cent of global volumes and 33% of present volumes in China. The growth will be seen majorly in the automobile Sector, (defence) tanks, transportation, wind energy and infrastructure...Read More

Welcome extension of Compulsory Registration Order: MAIT

Manufacturers’ Association for Information Technology (MAIT), the apex body actively representing ICT Manufacturing, Training, IT, Design, R&D and associated services sector has hailed the government’s decision to extend the deadline of "Requirement for Compulsory Registration Order 2012" by three months.The new deadline to implement the mandatory BIS certification is July 3, 2013. Commenting on this move, Anwar Shirpurwala, Executive Director, MAIT said, "The industry is delighted with this move taken by the IT & Communications Ministry. The relaxation of deadline will help maintain the market stability as well as avoid supply crunch." He also highlighted that the industry appreciated the compulsory BIS certification order. The Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2012, notified by the Department of Electronics and Information Technology (DeitY) was scheduled to come in force with effect from April 3, 2013. It meant that no manufacturing, import, storage or sale of electronics products can be done without being registered with the Bureau of Indian Standards (BIS). The government order lists products under 15 categories ranging from video games, laptop, notebook, tablet and plasma/LCD/LED televisions, to microwave, printers and scanners, telephone answering machines, electronic music systems, etc.

IRB Infrastructure executes concession agreement with NHAI

MARG bags 3 Infra awards

MARG Group, one of India's leading infrastructure companies announced that it has bagged 3 prestigious Infra awards in quick succession. During the period of Feb-March 2013, the Group bagged 3 prestigious awards thereby once again reiterating the credentials that MARG has established in the industry.  In the recently concluded 5th CIDC Vishwakarma Awards 2013, CIDC, New Delhi - an apex body set up by the Planning Commission of India handing handed out the most prestigious set of awards that recognize and facilitate achievers in the construction sector, GRK Reddy, CMD MARG GROUP was chosen as ‘Industry Doyen’ for his exemplary contribution to the construction sector through adoption of path breaking technologies, best practices, people management and CSR initiatives . Also, MARG Ltd was chosen as ‘Best Professionally Managed Company’ for exhibiting professionalism across its operation. The awards are an embodiment of encouraging truly successful efforts from individuals and organizations that have made a mark on the present Indian Construction Industry in terms of delivering better outputs, processes and creating higher benchmarks for construction industry to help in nation building. CIDC selects the winners through a stringent systematic process involving site visits & personal interaction with key functionaries of the organisation. These two awards were followed by another laurel for MARG in the form of the prestigious 5th KPMG Infrastructure Today Awards’ 2013.This annual award event organized by Infrastructure Today in association with KPMG recognizes excellence in infrastructure sector. MARG Karaikal Port was adjudged as ‘Most admired emerging Infrastructure Company’ for its excellent performance & growth in transport segment. The selection to these awards goes through an extensive industry survey conducted by Infrastructure Today followed by elaborate discussions and voting by a panel of eminent jury from the construction sector...Read More

RInfra expresses solidarity with Earth Hour initiative

Reliance Infrastructure Ltd. (RInfra), the leading power distribution company in Mumbai, in solidarity with the Earth Hour initiative followed across the globe, will also observe Earth Hour on coming Saturday, March 23, 2013 between 8.30 p.m. to 9.30 p.m. RInfra, therefore, appeals to all the Mumbaikars to voluntarily switch off the power supply to their premises for one hour. Spokesperson, RInfra, while commenting on the initiative said, "We request all Mumbaikars, irrespective of their service provider, to come together for the cause and unequivocally support the cause by switching off all their non-essential appliances and gadgets during the hour." He further added, "RInfra is committed to the cause through its various initiatives in conservation of energy, food, water, paper, etc. that contribute towards the cause." Earth Hour is an annual international event created by the WWF (World Wide Fund for Nature/World Wildlife Fund), that urges households and businesses across the world to turn off their non-essential lights and electrical appliances for one hour at the appointed time to raise awareness towards the need to take action on climate change. RInfra, in line with its commitment towards the cause of energy conservation has initiated several programmes through its various initiative such as YES (Young Energy Saver) programme for school kids; facilitating distribution of Energy Efficient electrical appliances (Viz.T5 tubes, CFL Bulbs, Star rated ACs and Fans) for its consumer at discounted rates. The Company is also engaged in conducting lecture - demonstrations in various Housing Societies as well as Municipal Schools to create and spread awareness about energy conservation among the consumers. Company has launched Online ‘Energy Manager’ which empowered consumers to calculate savings made on their power bills by resorting to the stringent energy conservation measures. It needs to understand that 1 unit saved in electrical energy is nothing but restricting 1 kg carbon emissions going in air. Through YES initiatives, RInfra has touched almost 5 lacs Mumbaikars. Saving of 1 unit of electrical energy by these people can be saving of 5 lacs kg Carbon Dioxide going into air; thus, creating healthy atmospheric conditions for the generations to come.

Galaxy Hotel, Shopping and Spa ties up with World Hotels

The Galaxy Hotel, Shopping and Spa has forged an alliance with World Hotels to enhance its Global Distribution System (GDS) to the business and leisure traveler from across the world. The only hotel in the NCR region to have created this affiliation, Galaxy will now be a part of a coveted chain of 500 hotels, managed by the group globally and be a part of the 10 premier properties in India who are affiliated to Worldhotels. A strategic and completely marketing & sales oriented tie-up, Galaxy will now be serviced on a global platform by a team of professionals who set standards in global sales, marketing and distribution support that is to be found only in major chains. Worldhotels’ Sales and Reservations offices in over 30 key locations worldwide will service the hotel for customers in their own language. The Galaxy hotel will now be connected to high value business from over 500 key accounts plus worldwide distribution channels that include preferred travel consortia, the Worldhotel’s hotel websites, internet booking channels and online travel agencies. Galaxy will also find support and commitment through the Worldhotels’ social media network; through Facebook and Twitter pages of Worldhotels. The global marketing and e-commerce team will further provide a range of services from branding to online CRM solutions. Globally now the international traveler seeking upscale products will be directed to the Galaxy hotel to experience the wonders and heritage of India. The Galaxy Hotel guests will also enjoy the benefit of airline miles by staying in the hotel as Worldhotels has an affiliation with 25 major airlines across the world apart from other offers with numerous affiliates.

TCS positioned as a Leader in Sustainable Technology Services

Tata Consultancy Services, a leading IT services, consulting and business solutions firm, announced that it has been positioned as a Leader in Sustainable Technology Services by specialist energy, environment and sustainability analyst firm Verdantix. According to Verdantix’s report, Green Quadrant: Sustainable Technology Services (Global), 2013, TCS is ranked as a Leader as a result of the company’s expertise in manufacturing plant energy systems, renewable energy systems, residential smart meters, and data center energy management. TCS has invested significantly to build on its strong track record in corporate sustainability. The company has created a dedicated sustainability practice, and during the last 12 months has also enhanced its energy management and environmental capabilities in numerous specialist areas. In recognition of this, Verdantix has awarded TCS with ‘best-in-class’ scores for manufacturing plant energy systems and residential smart meters.

Mobile VAS mkt to grow to $9.5bn in 2015: Wipro

Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited, and The Internet and Mobile Association of India (IAMAI), in a joint research report titled "Future Thought of Business (FTOB): MVAS" predicts that the Indian MVAS market will grow at a CAGR of 25% between 2012 and 2015 to reach US $9.5bn in 2015, from an estimated US $4.9bn in 2012. Wipro and IAMAI conducted an in-depth evaluation of over 450 consumers and providers of MVAS in India to identify the major drivers and barriers of the Indian MVAS market and provide insights that will help to grow this market.  The research focused on the mEducation, mEntertainment, mFinance and mHealth application areas and found that there is pent up market demand from consumers for sophisticated mobile services in India that have the potential to improve the overall quality of living...Read More

HCL Technologies bags contract from Ford Motor: reports

Educomp Solutions completes sale stake in Eurokids

Educomp Solutions Ltd., India's largest education company, today announced that it has completed the sale of its entire 50% stake in Eurokids International Limited to a group of investors led by GPE India. Educomp had finahVed the stake sale on 8 January 2013. The transaction has been completed today, after meeting the customary conditions precedents. Shantanu Prakash, Chairman and MD, Educomp Solutions Ltd, said,"This transaction is an important milestone for the business transformation agenda that is currently underway. Educomp has made 3x its original investment in Eurokids and has created significant value for its shareholders by making a profit of approximately Rs 70 Cr on this investment.

Educomp's business transformation agenda is progressing well on track. Our strategy is to focus on one hand on a) our core businesses of digital content offerings & asset-backed offerings and b) to monetize the non-core assets to unlock value. As a result, earlier in the year, Educomp sought growth capital investment of Rs. 22cr in its internet education platform business Authorgen, from Kaizen PE and Bertelsmann. The transaction has insulated Educomp from any further capital infusion requirement, while at the same time, there is a potential value creation upside maintained through a minority equity stake. The completion of the Eurokids transaction is the second milestone in our asset monetization strategy. The proceeds from the transaction will be ploughed back into our core businesses as well as used to de-lever our balance sheet...Read More

Sonata Software enters into a global alliance with TIBCO Software

Sonata Software, an IT Consulting and Software services provider, announced that it has entered into a global alliance with TIBCO Software Inc. to sell and implement tibbr, a leading enterprise social networking platform. This alliance is a part of Sonata's strategy to employ the best of social, mobile, cloud and analytics technologies to transform business processes of customers in the verticals of interest to the company. Sonata is a partner of choice for Fortune 1000 enterprises to enable IT transformation initiatives by setting up customer specific Centers of Excellence. Developed as the first enterprise social platform to seamlessly and bi-directionally integrate with other enterprise applications, tibbr enables businesses to get work done faster by bringing people, apps and data together in one secure platform.

Cisco enables learning experience at BITS Pilani

Cisco announced that Birla Institute of Technology and Science (BITS) Pilani, one of India’s premier independent universities, along with BITSAA International, its global alumni community, have successfully deployed the immersive, high-definition Cisco TelePresence videoconferencing and Cisco WebEx technologies as part of a cross-campus technology initiative named BITSConnect 2.0. Set to transform the learning experience through unparalleled campus-connectivity, this platform is aimed at creating a dynamic and collaborative learning environment by connecting classrooms through a MPLS – based data network. Custom-built using Cisco TelePresence technology, the new virtual lecture facility will offer immersive, high-definition visual communications — enabling all students, regardless of location, to collaborate and participate as if they were in the same room as one another and their professor. The initiative will benefit over 11,000 students and 700 teachers and provide them with access to business leaders and guest lecturers located around the globe, enabling collaborative research and interactive learning a routine part of their lives.  

Highlights

  • The largest and first-of-its-kind in India, this deployment will increase collaboration, foster innovation, enhance productivity, and streamline administration.
  • Using the new Cisco Telepresence facility, BITS Pilani is offering 14 specialized electives to hundreds of students across its three campuses.
  • BITS will also utilize the Cisco Capture, Transform, Share (CTS) video platform to enable professors to record lectures and make those lectures available for replay. This provides access to key content from any location and at any time, increasing the value and reach of each lecture and classroom discussion.
  • The technology provides an enhanced learning experience to students, through collaboration with students and faculty from other campuses – on an average; eight classes are conducted every day.
  • BITS will be able to bring experts from across the globe for guest lectures, workshops, and other academic pursuits and students from all the three campuses can have real time interaction with the experts.
  • BITS plans to leverage this technology for campus placements and faculty recruitments.

Cisco has a history of developing unique solutions for educational institutions and a strong corporate commitment to improving the quality of education. Through the Cisco Networking Academy program, the company’s 21st Century Schools initiative and numerous engagements with nongovernmental organizations whose aim is to boost opportunity through education, Cisco has helped multiply the impact of technology on millions of students and teachers around the globe.

Mindshare appoints Rajit Desai as Partner - Consulting

Mindshare, the flagship media agency of GroupM has further strengthened its consulting and analytics discipline in the west with the appointment of Rajit Desai as Partner - Mindshare Consulting. In his new role, Rajit Desai would actively contribute towards developing and restructuring Mindshare’s business consulting offering for clients in west region. He will be reporting to the Head of Practice - Sandeep Pandey. In his last role Rajit served as the Vice President and Head of Lab center (research and strategy hub) at Lodestar UM. Having worked in the marketing vertical and as media consultant for various leading companies such as HTA, Sony, Times Now, Loadstar, Media e2e and Turner Broadcasting, Rajit comes with 16 years of work experience in the media function. Welcoming Rajit, Sandeep Pandey, Head of Practice, Principal Partner – Consulting and Analytics, said, "Our nature of work requires people from strong consulting and business strategy profile and Rajit has a combination of both. It is part of our larger talent restructuring within consulting discipline and you will hear soon about many senior profiles joining from different industries." On his move to Mindshare, Desai said, "This exciting role is a logical next step for me. I see this as a big opportunity and I look forward to help address client’s marketing and business problems and grow the practice along with the high quality team at Mindshare."

RIL clearance for Oil&Gas blocks credit positive: Moody’s

Last Thursday, the Indian government approved Reliance Industries Limited (RIL, Baa2 positive) to continue exploration and production at two oil and gas blocks including Krishna-Godavari Basin (KG) D6, its largest oil- and gas-producing block. This is credit positive for RIL. Without this approval, RIL’s exploration efforts could have stopped after India’s Ministry of Defense in January declared RIL’s two blocks as belonging to 14 blocks that the ministry deemed to be sensitive "no-go" areas, reversing the regulatory approvals that Reliance received in 2000 when it first secured the blocks. The two blocks are Reliance’s undeveloped gas discovery block, NEC-25, and the KG-D6 block, which it jointly owns with BP P.l.c. (A2 stable). The KG-D6 block is important for the production and revenue of Reliance’s upstream oil and gas business. For March-December 2012, the block produced 55 million barrels of oil equivalent, or 70% of Reliance’s total oil and gas production. During this same period, Reliance derived $860 million in revenue from the block at an average oil price of $103 per barrel and an average gas price of $4.2 per million British thermal units. The government’s approval indicates that it is keen to avoid any disruption in gas production because of regulatory hurdles. Without this approval, KG-D6’s development would have been further delayed. Output at the KG-D6 averaged 28 million metric standard cubic meter per day (mmscmd) in December 2012, just 35% of its daily target of 80 mmscmd. After nearly a year, the Ministry of Petroleum and Natural Gas in October 2012 approved the plan to increase production at the block. Two other blocks belonging to the state-owned Oil and Natural Gas Corporation (ONGC, Baa1 stable) and Cairn India (unrated) were also given clearances. The government cleared a third block that RIL owned but has since relinquished.

RIL plans to invest $350-450mn in KG-D6 in FY14: reports

Gail India down as Tamil Nadu stops project in 7 districts

Venus Remedies launches first OTC product 'EZENUS'

Venus Remedies Limited has announced the launch of its first OTC product 'EZENUS', a stress reliever. The product is a patent protected herbal, anti-stress formulation based on German Technology It is a strong detoxifier candy free from side effects, with strong antiox.dant hepato protective, and immune boosting activity which reduce stress without altering the physiological functions of the body. EZENUS reduces more than 60% stress within 30 days without change in life style and significantly improves the quality of life in terms of physical, social emotional and functional well- being. This breakthrough innovative product is suitable for all ages with safety established upto 10 times advised dose. Ezenus is the outcome of continuous research, latest technology and thorough screening for safety and efficacy of more than 5 years. With launch of 'EZENUS', a stress relieving candy, Venus is entering into the OTC segment for the first time. The company is hopeful that this novel research product 'EZENUS' will acquire 5% of the 100 million USD direct market of stress segment in India, other than lifestyle disorders, within 3 years of its launch.

Godrej Properties launches Affordable Housing in Ahmedabad

The Mumbai-based real estate developer launches 1 BHK affordable apartments in Godrej Garden City, Ahmedabad at prices starting at Rs. 16.5 lakh. Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, today announced launch of the Affordable Housing Scheme in their township project Godrej Garden City (GGC) in Ahmedabad. Five new towers, each ground plus 12 storeys tall, will offer affordable 1 BHK apartments each measuring 600 sq. ft. at prices starting from Rs. 16.5 lakh. Each tower will be equipped with 2 lifts and all apartments are open from two sides with no two apartments overlooking each other. GGC is located just off SG Highway in the heart of Ahmedabad. The project is within Ahmedabad Municipal Corporation (AMC) limits and is easily accessible from any part of the city. Godrej Properties is creating facilities for public transport, education, health-care, recreation, hospitality, retail and banking within the development. Important civic facilities and public utilities will be added to make Godrej Garden City fully self-sufficient. The master plan has been created by world-renowned architects Skidmore, Owings and Merrill (SOM), who have designed numerous landmark projects across the globe such as the Burj Khalifa, which is currently the world’s tallest building.

SAT defers SEBI-Sahara case till 13 April: reports

The Securities Appellate Tribunal has adjourned its hearing till April 13 on Sahara group chief Subrata Roy's plea against Sebi's attachment order of his bank accounts and other assets, according to reports. Reports stated that Roy has approached the SAT against the attachment orders issued by Sebi last month. The Tribunal, in its last hearing in Mumbai on March 23, had decided to hold its final hearing in the matter here in the National Capital on March 26.

Realty developers to move FinMin against new property tax: reports

Single Window System for clearance for real Estate Projects soon: Ajay Maken

Ajay Maken, Union Minister for Housing and Urban Poverty Alleviation informed that the Government had sanctioned projects worth Rs 41723 crores for building of 15,69,000 houses/dwelling units for Economically Weaker/Lower Income Group sections under the Ministry’s flagship JnNURM (BSUP and ISHDP) programmes. Maken said this while addressing the National Editors’ Conference here today, of these approximately 10 lakh houses were either ready or under various stages of completion. Similarly under the Pilot phase of Rajiv Awas Yojana (RAY), in the 195 identified beneficiaries cities Rs 100 crores had been released for undertaking the finalisation of slum free city plans. 40 Projects worth Rs 1769 crores for construction of 32517 dwelling units in 33 cities had been sanctioned till the 10th March 2013, Shri Maken informed. Informing about the Swarna Jayanti Shahari Rozgar Yojana (SJSRY) of the Ministry, Shri Maken apprised that during the XI Five Year Plan, a total expenditure of 2691 crores was made, 27.37 lakhs of beneficiaries had been provided Skill Training and 12.76 lakh of individuals were assisted for self-employment and also 6.29 lakh women beneficiaries were assisted for setting up of Group Enterprises. For the year 2012-13, as on 22nd March 2013, Rs 685.62 crores have been released to States and so far 3.23 lakhs of beneficiaries have been provided Skill Training and 53329 individuals were assisted for self-employment and also 29107 women beneficiaries were assisted for setting up of Group Enterprises. Elaborating further the Minister said that in order to have a mission mode approach to Urban Livelihood, the Ministry will launch a National Urban Livelihood Mission (NULM) during 2013-14, which will replace the existing SJSRY. Two new Schemes namely, Support to Urban Street Vendors and Shelter for Urban Homeless has incorporated in NULM. The targets for Skill Training under NULM will be 4.0 million during the XII Plan period. It is also proposed to construct 1600 shelters for urban homeless during the XII Plan period. As far as 2013-14 is concerned, it is proposed to provide skill training to 4 lakh urban poor beneficiaries and to construct 200 shelters for urban homeless...Read More

India among top 20 real estate investment markets: Cushman & Wakefield

According to Cushman & Wakefield’s latest report International Investment Atlas, the global property investment market recorded a modest 6% rise in activity during 2012 with volumes reaching US$929bn (€714bn). In what was a difficult year in most markets, investment volumes rallied in Q4 signaling the beginning of real momentum and a return of confidence in the market which could see volumes this year increase 14% to exceed US$1 trillion mark (€815bn) for the first time since 2007.   India was (20th) among the top 20 real estate investment markets globally with investment volume of Rs190 bn (USD 3466 mn) recorded in 2012. Majority of the investment in India were through institutional sales (67%) while remaining were through private equity (PE) investments (33%). The market witnessed institutional sales (excluding apartments) of Rs128 billion, concentrated in commercial development sites and office segment including stand-alone and pre-leased office buildings. However the investments in institutional sales saw a decline of 37 % over last year. On the other hand private equity investment in India increased by 7% in 2012 and was noted at Rs62.0 billion. In terms of value, majority of the Private Equity in Real Estate (PERE) investments were noted in ready income generating / operational office assets at INR 32.3 billion saw an increase of 34% over 2011. Under construction residential projects continued to witness the highest number (25) of PERE deals in 2012 and witnessed private equity investments at Rs 28.5 bn...Read More

India Office Real Estate - A Tale Of The Suburbs: JLL

TRAI releases Quality of Service Regulations, 2013

The regulations issued in 2006 have prescribed a Code of Practice for metering and billing accuracy, containing standards for metering and billing, which every access service provider has to comply, so as to minimize the incidences of billing complaints and for protecting the interest of consumers. These regulations also provided for a system of annual audit of the metering and billing system through any one of the auditors, from the panel notified by TRAI, and the service providers are required to submit Audit Report by 30th June of every year and Action Taken Report on the inadequacies, if any, pointed out by the Auditor by 30th September. TRAI had issued a Consultation Paper on 27th November, 2012, seeking the comments of stakeholders on the proposals to introduce financial disincentives for addressing the problem of delay in submission of audit reports and action taken reports, false or incomplete audit and action taken reports and delayed refund of overcharges to affected consumers and proposals for improvement of quality of audit. Open House Discussions were held in Delhi on 9th January, 2013. After considering the views received from the stakeholders during the consultation process, TRAI has issued the Quality of Service (Code of Practice for Metering and Billing Accuracy) (Amendment) Regulations, 2013. The salient features of these regulations are given below:

Service providers to get its metering and billing system audited annually for basic and cellular mobile telephone service in each service area through any one of the auditor from the panel notified by TRAI. Audit of call data records of one month of sample subscribers from most popular plans, new plans, data plans and Special Tariff Vouchers, in each Quarter so that the audit is representative of the whole year and also to facilitate timely refund of overcharged amounts. Submission of audit report and action taken report by service providers to TRAI every year by 31st July and 15th November respectively. Financial disincentive at the rate of Rs. 1,00,000/- per week for delay in submission of Audit Reports and Action Taken Reports by the service providers. Financial disincentive not exceeding Rs. 10,00,000/- per Action Taken Report for false or incomplete information in the Action Taken Report. In all cases of overcharging established during audit the affected customers shall be refunded of the overcharged amounts within two months, failing which the service provider shall be liable for financial disincentive equivalent to the amount of overcharged amount. Auditors to submit monthly progress report to TRAI on refund of overcharged amounts to affected customers, in addition to submission of report on progress of audit at periodic intervals.

Core issues related to land acquisition In India

The core issues that surround the acquisition of land in India are more complex than those related to built-up property. Some of these are:

  • Litigations due to inheritance
  • Multiple sales which have not been properly recorded
  • Pledging of land to local money lenders
  • Fragmented holdings
  • Requirement of cash while dealing with sellers
  • Difficulty in obtaining contiguous land
  • Lands which have been granted to SC/ST by the Government
  • Land ceiling laws
  • Tough resettlement and rehabilitation laws

As things stand now, land acquisition has become a means for a multitude of middle-men to make a lot of money. This is because the tough regulations and complexities related to acquiring land today provide huge arbitrage to such people. If the Government starts simplifying the process, middlemen can be eliminated, reducing the cost arbitrage and passing the benefit to the actual land owners. Until that happens, the availability of fool-proof deals in land will remain scarce on the ground. For the record, a good deal is one wherein one can buy, in one go, a clean title property that complies with all Government plans and stipulated usages.

How To Avoid Bad Land Deals

One can avoid bad land deals by:

  • Using experienced lawyers for the transaction
  • Doing a detailed due diligence
  • Employing the services of a reputed real estate consultant with in-depth market knowledge.

When it comes to land acquisition, there is no question of a free lunch or short-cuts. If something about a land deal seems out of whack, then it can be taken for granted that there is an issue with the land. As things stand today, fraud happens as because people buy land without complete due diligence, which leads to faulty acquisition of land with title issues. The objective of buying land for development should be getting a clean, secure title and being able to develop on the plot without facing any future complications at the development stage, and within a stipulated time.

Bharti Airtel raises $250mn via bond sale: Reports

Bharti’s fully owned subsidiary in the Netherlands Airtel(Bharti Airtel International Netherlands) successfully raised $250mn yesterday from the international markets after raising $1bn through bond sale last month. The Netherland arm sold $500mn worth of bonds which carry a coupon rate of 5.04%. These are US dollar denominated bonds having a maturity period of 10 year.The bond is set to be merged with earlier bond issue, said the reports.

Spectrum Case: We have done nothing wrong, says Sunil Mittal

Each one of you must hold your head high for we have always done what is ethical and right, and will continue to do so, says Mittal in an email to his top brass. Sunil Bharti Mittal, CMD of Bharti Cellular Ltd, and six others were recently issued summons in a ‘corruption case’ relating to allocation of additional spectrum during the NDA regime in 2002. Though Mittal’s name was not in the CBI’s charge sheet as an accused, Mittal was ‘prima facie’ in ‘control of affairs’ of his company Bharti Cellular Ltd which was charged by the CBI, the court stated. In a recent email to the top brass of his company, Sunil Mittal said his firm has always maintained the highest standards of corporate governance. Quoting the Bhagwad Gita, he said, No one who does good work will ever come to a bad end, either here or in the world to come...Read More

Food prices decline but still high and close to historical peaks: WB

Global food prices continued to decline for six consecutive months, but still remain very high and close to their historical peaks. The persistently high and volatile food prices not only influence conditions of hunger and undernutrition, but also obesity which may increase in the context of high prices as people opt for cheaper, less nutritious food to feed their families, the World Bank Group’s quarterly Food Price Watch report said. "Unhealthy food tends to be cheaper than healthy ones, like junk food in developed countries. When poor people with some disposable income in developing countries try to cope with high and increasingly volatile food prices, they also tend to choose cheap food that is high in calories but without much nutritious value," said Otaviano Canuto, World Bank Group’s Vice President for Poverty Reduction and Economic Management. "Half of the world's overweight people live in just nine countries China, United States, Germany, India, Russia, Brazil, Mexico, Indonesia, and Turkey evidence that obesity is not an epidemic restricted only to rich countries."

According to the latest edition of the Food Price Watch, global food prices continued to fall between October 2012 and February 2013 - a trend observed since the recent all-time peak in August 2012 - but prices were only 9% below the August peak. Lower demand from a sharp fall in the use of wheat feed and reduced maize consumption for ethanol in the United States pushed prices down. Reported favorable weather conditions in some regions have also raised hopes of better crop supply for 2013. But uncertainties remain. Global stocks of cereals dropped by 3% in 2012, mainly due to the decline in wheat stocks and coarse grains. The continued dry conditions in Argentina, South Africa and Australia also cast doubts over supplies in the coming months. Oil prices have been on the rise for three consecutive months, marking its highest level in February since April 2012. Stronger demand from Mexico, Indonesia, South Korea, Turkey, and possibly China may pressure the market...Read More

US economy will grow despite spending cuts: Kurt Karl

After 20 March 2013 decision by the Federal Reserve to maintain the target Fed funds rate at zero to 25 basis points, Swiss Re’s Chief Economist, Kurt Karl, commented: "Triggering the sequestration will slow growth and delay the first rate hike by the Fed into early 2015. Karl added: "If present trends continue, the unemployment rate will fall below 6.5% in the first quarter of 2015, so the Fed’s first rate hike is unlikely to come any time sooner. Nevertheless, yields on the 10-year Treasury notes are expected to rise modestly this year and next, reaching about 2.6% by end-2015 as economic activity picks up. "Though allowing sequestration to be implemented is not sound fiscal policy, it will reduce the deficit. Additionally, it will weaken economic growth this year by about 0.5%, deferring monetary tightening. Our baseline scenario assumes that more finely-tuned policies will be put in place over the next few months to reduce the dampening impact from the sequestration, so growth will be about 2% in 2013."

He further added: "Economic developments remain uneven in the Euro area. Economic indicators have rebounded in Germany, but have remained weak in many other European countries, particularly Italy and France. We currently expect the mild recession to continue in the Euro area, with real GDP growth of -0.3% in 2013. "The lack of growth is one important factor that makes the resolution of the Euro area debt crisis so difficult. An excessive focus on fiscal austerity last year has probably contributed to the deepening recessions in the periphery. The focus now appears to be shifting gradually towards tolerating deficit overshoots caused by worse-than-expected economic performance. The key to longer-term sustainable growth, however, lies in further structural reforms that are conducive to growth and these, if implemented, will only have an impact over the next five years." He continued: "The indecisive election outcome in Italy is a reminder that the reform path in Europe will not be a smooth process. In addition, reducing the private and public debt overhang involves distributional choices that can lead to a public outcry as we are currently witnessing in Cyprus."...Read More

Fitch upgrades Philippines to investment grade; Outlook stable

Fitch Ratings upgraded the Philippines' Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BBB-' from 'BB+'. The Long-Term Local-Currency IDR has been upgraded to 'BBB' from 'BBB-'. The Outlooks on both ratings are Stable. The agency has also upgraded the Country Ceiling to 'BBB' from 'BBB-' and the Short-Term Foreign-Currency IDR to 'F3' from 'B'.

Key Rating Drivers

The upgrade of Philippines' sovereign ratings reflects the following factors:

  • The Philippines' sovereign external balance sheet is considered strong relative to 'A' range peers, let alone 'BB' and 'BBB' category medians. A persistent current account surplus (CAS), underpinned by remittance inflows, has led to the emergence of a net external creditor position worth 12% of GDP by end-2012, up from 6% at end-2010. Remittance inflows were worth 8% of GDP in 2012 and proved resilient even through the shock of the global financial crisis. Fitch expects a rising import bill stemming from strong domestic demand to lead to a narrower CAS and to stabilise the net external creditor position at a strong level through to 2014.
  • The Philippine economy has been resilient, expanding 6.6% in 2012 amid a weak global economic backdrop. Strong domestic demand drove this outturn. Fitch expects GDP growth of 5.5% in 2013. The Philippines has experienced stronger and less volatile growth than its 'BBB' peers over the past five years.
  • Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks. Strong economic growth and moderate budget deficits have brought the general government (GG) debt/GDP ratio in line with the 'BBB' median. The sovereign has taken advantage of generally favourable funding conditions to lengthen the average maturity of GG debt to 10.7 years by end-2012 from 6.6 years at end-2008. The foreign currency share of GG debt has fallen to 47% from 53% over the same period.
  • Favourable macroeconomic outturns have been supported in Fitch's view by a strong policy-making framework. Bangko Sentral ng Pilipinas' (BSP) inflation management track record and proactive use of macro-prudential measures to limit the potential emergence of macroeconomic and financial imbalances is supportive of the credit profile. Inflation has been in line with 'BBB' peers on average over the past five years...Read More

Fitch places United Kingdom on rating watch negative

Sustainability depends on the way food produced and consumed: FAO

Small-scale producers, local production and consumption circuits and recovering traditional crops have a major part to play in reducing hunger, FAO Director-General José Graziano da Silva told professors and students at the University of Gastronomic Sciences today, also noting the many possibilities of cooperation between FAO and the university to fulfil the vision of a hunger-free and sustainable world. He said that the Green Revolution of the 1960s had increased per capita availability of food by over 40 percent, but at the cost of a loss of food diversity because of a focus on a few crops and significant impact on the environment from intensive use of chemical inputs.

But now there was a trend towards growing and marketing traditional foods, towards improving local infrastructure and markets and helping small-scale producers, all of which was good for the environment and the economy of rural areas, where hunger was worst, he said.  "Under-utilized crops ... can have a positive impact on food security," he said. "Recovering these crops is a way towards food security. It also means rediscovering lost flavors and identifying new ones. That is something that unites all of you to the poor farmers throughout the world," the Director-General told the audience. Graziano da Silva mentioned cassava in Africa and South America and quinoa in the Andes as food crops that were coming into their own, to the benefit of poor farmers and their families. He encouraged his audience to help spread the word about the International Year of Quinoa, being celebrated this year...Read More

Investing in Latin America’s future: IMF Survey

Economic growth in Latin America is expected to remain strong in 2013, but the region needs more growth-enhancing and employment-generating policies to reduce poverty and income inequality, said Alejandro Werner, the IMF’s new Director of the Western Hemisphere Department.

Werner also noted that large capital inflows, while beneficial for countries in the region, were generating some volatility in domestic financial markets.

Werner joined the IMF in January 2013, leaving a position as head of corporate and investment banking at BBVA Bancomer.

IMF Survey online: You have just taken up the position of Director of the Western Hemisphere Department. What are your top priorities?

Werner: The Western Hemisphere covers all the countries in the Americas and, therefore, includes a wide mix of countries. Our priorities reflect this diverse mix.

For example, we have the United States, which is seeking to accelerate the pace of its recovery. Here, I think our job is to add value to the ongoing debate on options to speed up the U.S. recovery following its financial crisis, to develop a medium-term fiscal consolidation strategy and to continue strengthening the balance sheet of its financial sector. The United States has important ties to the rest of the Western Hemisphere. Central America and the Caribbean, for instance, are strongly linked to the U.S. through remittances, exports, and tourism. For these countries, low growth and high debt are the headline issues. So the IMF has to work closely with policymakers in these countries to help them design policies that will put them on a path of higher growth and declining debt-to-GDP levels. Then we have some countries, like Brazil and Mexico, whose economies are large and systemic. These economies have been extremely healthy and growing, so our role is to provide the best advice possible to continue strengthening their fiscal and monetary frameworks, developing their financial capital markets, and upgrading their regulatory frameworks...Read More

IMF Chief Christine Lagarde lauds Cyprus solution

She added "plan focuses on dealing with the two problem banks and fully protecting insured deposits in all banks. It addresses upfront the core problem of the banking system through a clear strategy that ensures debt sustainability and does not excessively burden the Cypriot taxpayer. This agreement provides the basis for restoring trust in the banking system, which is key to supporting growth. "We believe the plan provides a durable and fully financed solution to the underlying problems facing Cyprus and places it on a sustainable path to recovery. The staff teams of the IMF and the European partners currently in Cyprus will now work to complete the technical details. Based on this and final agreement of the mission in Cyprus, I expect to make a recommendation regarding potential financial support from the IMF to the Executive Board in coming weeks."

Pacific growth eases as gains from large projects fade: ADB

Pacific growth softened in 2012 and is expected to moderate further in 2013, as gains from major investment and public infrastructure projects fade, according to the latest Pacific Economic Monitor, released today by the Asian Development Bank (ADB). Regional growth eased to 7.3% in 2012 down from a post global financial crisis high of 8.3% in 2011. The report forecasts a further slowdown to 5.2% in 2013, before a mild pick up to 5.5% emerges in 2014. The 2012 performance was affected by a slightly softer pace of expansion in the larger, resource exporting economies of Papua New Guinea (PNG) and Timor-Leste, although these economies are still expanding at rates that lead the region. The Solomon Islands saw a sharp pullback from double digit growth rates, as log revenues leveled off. Reduced gains from public construction projects weighed down growth in Kiribati, the Federated States of Micronesia, Samoa, and Tonga. However, growth actually increased in 2012 for some countries in the region. Growing tourist arrivals gave growth a boost in the Cook Islands and Vanuatu, and supported solid growth in Palau. The tourism outlook for the region remains bright, with visitor numbers in 2012 building on historic highs set the previous year. Strong arrivals from the main markets of Australia and New Zealand, as well as a rise in numbers from East Asia, are driving the gains. This uptrend is likely to continue as the economies of the key source markets are expected to remain steady, as long as emerging concerns about the availability of tourism facilities at peak tourism periods are addressed...Read More

Powering the pacific's future a challenge, but progress is clear: ADB

ADB annual meeting to focus on development through empowerment

Members of the media who have been invited to the 46th Annual Meeting in Delhi are reminded to register online by 20 April. This year's meeting focuses on Development through Empowerment and will feature leading experts speaking on job skills for the 21st century, moving beyond "Factory Asia," finding financing for infrastructure, preparing for disasters, financing universal health care, and delivering effective public services, among other topics. Speakers will include a Nobel prize winner, finance ministers and central bank governors. To facilitate entry upon arrival in Delhi, please be reminded that all working media must have press credentials to attend the ADB Annual Meeting. Media based in India need press credentials issued by Indian authorities such as the Press Information Bureau; or proof of assignment to cover the Annual Meeting, such as a letter from their editor or media organization. Media based outside India need press credentials from their national or local authorities; or proof of assignment to cover the Annual Meeting, such as a letter from their editor or media organization. The requirements also apply to freelance and online media (journalists, photographers, and videographers) and to media technical staff. Journalists visiting on short-term assignments and planning to bring into Indiaphotographic or audio equipment or set up satellite feeds must submit a list of the equipment to the Ministry of External Affairs, Government of India when applying for a visa.

Global urea mkt to enter oversupply zone post 2015: Rabobank

The global urea market is set to enter an era of oversupply post 2015, according to Rabobank. Unprecedented acceleration in urea capacity expansion by key importers (the US, Brazil and India) and low-cost producers in the Middle East and Africa (MEA) will drive structural changes. This capacity expansion is expected to improve the self-sufficiency of the top three importers and ensure that supply growth significantly outpaces demand growth, shifting the market into a buyers’ market towards 2020. The competition among traditional exporters in the MEA, China and the FSU will intensify, resulting in price pressure and capacity rationalisation in high-cost regions. "Attractive returns in urea production have resulted in a spurt in capacity expansion projects since 2007" Rakhi Sehrawat, Rabobank analyst commented. "The expansion is driven mainly by the exploitation of shale gas in the United States (US), new gas fields in Brazil, political incentives in India, and low-cost natural gas in MEA. Over 65 new projects have been announced that will expand global urea capacity by 30 percent between now and 2020. This rush of activity on the supply side will have a strong influence on the urea demand/supply picture in the coming five to ten years".   The urea production boom will impact players across its value chain, especially high-cost producers and traders. As the import reliance of the main urea destination markets declines and low-cost export-oriented capacity grows, competition among the traditional players/exporters will intensify, resulting in price pressure and capacity rationalisation in high-cost regions. In this market, strategic routes of the urea value chain partners (i.e. producers and traders) would need to change to adapt to this new reality in the urea industry...Read More

China remains top destination for foreign investment: PwC

All eyes in the metal industry will be on the lookout for a silver lining in the uncertain economic horizon this year as a PwC report out predicts. Mega deals will dwindle against a surge in smaller announcements according to Forging Ahead, with CEOs holding onto their purse strings.  In PwC’s annual in-depth metals M&A review and forecast, the headline trend is for a continuing recovery from a post credit-crunch low with Asia being the ‘star’ region dominating the 2012 deals market. It accounted for 68% of totals deals value, more than three times the 19% share it held in 2011. Jim Forbes, global metals leader, PwC, said: "There is no doubt that the industry is facing some of its toughest challenges yet as companies battle the headwinds of ongoing economic uncertainty and unpredictable costs around raw materials and energy. On the surface, we are still seeing some mega-deals but they are fewer and if we created a top 10 of the deals announced and completed in 2012 just half would have been valued above US$1bn...Read More

2013 Kia Optima Hybrid: Improves Performance and Efficiency

Since its debut, the Optima mid-size sedan has garnered awards and accolades for Kia Motors America (KMA) in recognition of its design, performance and value. In 2011, the Optima Hybrid introduced a new level of efficiency to the brand’s most popular name plate. Now, KMA is pleased to announce the arrival of its updated 2013 Optima Hybrid, featuring a more performance-driven and fuel-efficient powertrain as well as more cargo space and premium features. Value continues to be a strong selling point for the Hybrid with the LX starting at an MSRP of US$25,900 and the fully loaded EX at an MSRP of US$31,950. For 2013, the Optima Hybrid features numerous powertrain refinements for smoothness and drivability, including a more robust 47 HP electric traction motor, a stronger Hybrid Starter Generator (HSG) and a more powerful 47 kW Lithium Polymer battery. With a combined 199 horsepower and 235 lb-ft of torque – an increase of 40 lb-ft – the Optima Hybrid is noticeably more responsive and performance-driven than before.   The Optima Hybrid is now available in two trim levels, LX and EX. The base model achieves an EPA estimated 36 mpg city, 40 mpg highway and 38 mpg combined, making the Optima Hybrid more efficient than its predecessor. The EX model delivers an EPA estimated 35 mpg city, 39 mpg highway and 37 mpg combined. In addition to increases in performance and efficiency, the 2013 Optima Hybrid also benefits from greater trunk space than before, thanks to the repackaging of the vehicle’s battery pack. Furthermore, the EX model adds navigation with Rear-Camera Display an 8-speaker Infinity audio system, panoramic sunroof, heated and ventilated front seats and 17-inch wheels to the already long list of amenities...Read More

BMW to unveil new diesel 3-Series Gran Turismo: reports

Weststar Aviation Services adds two Eurocopter EC225 helicopters

Following major orders of the EC225 signed at the Heli-Expo earlier this month in Las Vegas, the sales momentum for this 11-ton class helicopter from Eurocopter’s Super Puma family continues at the Langkawi Maritime & Aerospace Exhibition this week in Malaysia with an order for two units from Weststar Aviation Services. A Memorandum of Understanding for the EC225s was signed today during the Langkawi Maritime & Aerospace Exhibition by company officials, witnessed by Malaysian Minister of Defense, YB Dato’ Seri Dr. Ahmad Zahid Hamidi. The acquisition is part of Weststar’s strategy to build up an extensive helicopter fleet to be deployed around the world. Targeting to begin operating their new helicopters in 2014, the EC225s will strengthen their position in the global oil and gas market, as the aircraft’s advanced technology and high performance has made it the helicopter of choice for oil and gas missions worldwide. "We are delighted that Weststar has selected Eurocopter to provide for their heavy helicopter needs in their expansion plans," said Olivier Lambert, Eurocopter’s Senior Vice President for Sales and Customer Relations. "It is great to see an ambitious and impressive oil and gas operator such as Weststar extending its fleet with the leading heavy aircraft in its category after two years of operations with medium helicopters. Eurocopter is proud to accompany Weststar on its expansion journey with our state-of-the-art EC225." Formed in April 2003, Weststar Aviation Services provides general aviation charter services, personal transport, aerial utility services and offshore transport. A member of the Weststar Group, this company’s current Eurocopter fleet of seven rotary-wing aircraft includes a mix of light-single, light-twin and medium-twin helicopters...Read More

GE Capital Aviation Delivers two new Boeing 737-800s

Boeing plans to slash 800 machinists: reports

SGX consults public on new FX futures contracts

Singapore Exchange (SGX) is consulting the public on its four proposed foreign exchange (FX) futures contracts, namely the US dollar/Singapore dollar, Indian rupee/US dollar, Australian dollar/US dollar and Australian dollar/Japanese yen pairs. These cash-settled FX futures contracts will be traded on and cleared by SGX.

SGX seeks the views of the public and market participants on the following proposals:

  • Position Limits – The position limit for each FX futures contract will be 10,000 contracts net on the same side of the market and in all contract months combined.
  • Price Limits – In line with the underlying over-the-counter FX markets and the practices of other exchanges, these contracts will have no price limits unless SGX prescribes them.
  • This allows free price movements in response to market developments and information.

Termination of trading – The last trading day for the FX futures contracts will be two business days prior to the third Wednesday of the contract expiry month, except for the Indian rupee/US dollar futures. For Indian rupee/US dollar futures, the last trading day will be two business days prior to the last business day of the contract expiry month. Final Settlement Price – The suite of FX futures contracts will be settled in cash based on proven and widely-accepted methodology. SGX targets to introduce the new suite of FX futures contracts in the third quarter of 2013.

Apple plans to triple exclusive stores to 200 by 2015: reports

Apple Inc is planning to triple its exclusive stores to around 200 by 2015, according to media reports. Reports said that the company plans to grow aggressively in the country. The company has launched a massive advertisement campaign in the country and started offering iPhones on equated monthly installment (EMI) scheme. At present, there are more than 65 exclusive Apple stores in India owned and managed by franchisees, report says.

Yahoo plans to acquire Summly: reports

Yahoo has acquired London startup Summly, the maker of a mobile application created by a teenage entrepreneur seeking an easier way to read news stories, according to reports. The details has not been disclose how much it is paying for Summly. Summly makes a mobile application that condenses content so readers can scroll through more information more quickly.

Connect with employers in real time using your Facebook id

Facebook, the largest social network on the Internet at the moment connects nearly 70mn Indian users to the widest social platform to find people and to communicate with them. It is one of the best engagement tools available to people and business and also provides opportunities to bridge the gap among these two. Uniquely positioned to skill and job market Facebook Assessment and Job Connect App developed by Wheebox, Asia’s Fastest Growing Talent Assessment Company is a pure play based on facebook social connects. Where candidates seeking for jobs from any educational background can connect to Wheebox.Com using their facebook account and take a 20 minutes career assessment in their respective choice of industry and thereby connecting instantly for telephonic interview scoring above 60% in the test. Wheebox.Com, announced that the company plans to assess 2,00,000 candidates using its Facebook App in India in next 12 months. The students from B. Tech, B.E, MBA, MCA and Graduate and Diploma courses can take the test and the students will be assessed on Industry Skills, Cognitive Abilities, and English Reading Skills. The test will provide a wide spectrum to the students and complete analysis of their skills status i.e. where do they stand against the employer’s expectations. The test will generate a robust and validated analytical report, which will state the core strengths and improvement areas of the students. All students who score more than 60% can either connect on a toll free number or can provide contact number to be connected for instant interview process. Candidate will be able to know their status and also will be able to join all interviews where their scores are shared with clients. Over 15 large employers of PeopleStrong to hire from pre-assessed pool of students scoring more than 60% in Wheebox Skill Test. In a recent study of Wheebox and PeopleStrong HR Services ‘Employability outlook report’, it was stated that only 14% students pass in their Domain knowledge test and Only 27 percent students are able to qualify the English Comprehension skills overall; Girl students score better in English Comprehension skills than boys...Read More

Kai Po Che : Five Points Won
IIFL Rating:

As for the story, it reminds you of Nagesh Kukonoor’s ‘Iqbaal’, Farhan Akhtar’s Dil Chahtaa Hai and Zoya’s Zingadi Na Mile Dobara for different reasons. But unlike the Akhtar products, Kai Po Che goes way beyond unfolding the glossy, highbrow intricacies of camaraderie between three friends to convey the reality of life and work in India – how political undercurrents cause religious unrests that trigger social upheavals which in turn shape individual trials and triumphs.

Kapoor is largely helped by Sushant Singh Rajput (who plays the impulsive and lion-hearted Ishaan, the principal protagonist) who breathes life, almost all of it, into the plot. He’s the latest hope in cinemascope and should bag quite a few awards for the sensational debut. Closer to Ranbir Kapoor than Ranveer Singh in every department, he seems perfectly poised for a fruitful career in Bollywood.

The other two, Raj Kumar Yadav (cautious and calculated Govind) and Amit Sadh (rustic, susceptible Omi) provide good support though at times, Sadh looks lost and Raj Kumar goes overboard. For an accomplished actor and a regular face in offbeat movies (and even big banner products like Talaash), Raj Kumar runs the risk of getting stereotyped in sober roles. Hope he gets a break he deserves someday soon. Amrita Puri capitalizes on the fabulous part she played in the Sonam Kapoor disaster ‘Aisha’ that was followed by a long lull of "prakriti ka sparsh" laden endorsements.

For a film based on Bhagat’s novel, Kai Po Che can’t escape melodrama and simplistic twists but Kapoor dexterously builds on the given foundation to create an enduring slice of fiction. He does his best to space out Bhagat’s content-heavy theme that accommodates cricket coaching, earthquakes, riots, elections, love tuitions, Navraatri-brand carnal escapades and pregnancy tests. If certain parts like the Kendriya Vidyalaya sports presentation appear abrupt, one can’t really blame Kapoor.

Despite the fact that Bhagat’s amateurish take (on most things) is tailor-made for the Bollywood cause, Kapoor adds credibility to the story by refraining from garish romanticism. Even the note of collective accomplishment at the end of the film is admirably matter of fact, conveyed through a running cricket commentary. Any other director would have been tempted to set emotions in loose motion. Five points for the director and Rajput, and also a few points for ‘someone’ who paved the way for such potent cinematic possibilities. 

Zilla Ghaziabad: Sab Barbaad!
IIFL Rating:

Before you venture out to suffer this one, there’s a fruitful option at hand. You can watch both parts of Dabangg and Wasseypur over and over again. The ordeal could leave you physically exhausted but you’ll still adore Salman’s charisma and Anurag Kashyap’s inventive drama. More important, you’ll escape the unparalleled mental torture that Zilla Ghaziabad has in store.

But if you are in an outrageous mood to prove the world wrong, this film will provide you with some comic relief. Few pointers:

Relish Vivek Oberoi in a whole, new majboori-mein-militant Gandhian avatar…

Enjoy Arshad Warsi’s desperate attempt to play Salman Khan…

Revel in the peculiar Gujarati-cum-bihari intonation of a jaded Paresh Rawal…

See Munnabhai and his circuit in conflicting camps, for the first time on screen…

Savor a glamorous version of Phoolan Devi, courtesy Divya Dutta…

There could be many more…Go find out for yourself! Courage calls for initiative, fair enough.

March, 2013 

COMPANY NAME

S3

S2

S1

CLOSING PRICE

R1

R2

R3

ABB

405

431

481

507

557

583

633

ACC

949

1,006

1,091

1148

1,232

1,289

1,374

Ambuja Cem

146

156

166

176

187

196

207

BHEL

152

160

172

180

193

200

213

BPCL

317

330

353

366

388

402

424

Bharti

240

258

276

294

312

330

348

Cairn

246

254

269

277

292

300

315

Cipla

358

365

375

382

392

399

409

DLF

168

185

214

231

261

277

307

Gail

301

307

313

319

325

331

337

Grasim

2,674

2,742

2,824

2892

2,974

3,042

3,124

HCL Tech

710

726

752

768

795

810

837

HDFC Bank

536

554

587

605

639

657

690

Hero Honda

1,513

1,563

1,609

1660

1,705

1,756

1,801

Hindalco

77

81

86

90

95

99

104

HUL

427

438

449

459

471

481

492

HDFC

738

757

777

796

816

835

855

ICICI Bank

917

953

993

1028

1,068

1,104

1,143

Idea

96

99

104

107

112

115

120

Infosys

2,762

2,796

2,829

2863

2,896

2,930

2,963

ITC

294

298

301

306

309

313

316

L&T

1,212

1,263

1,349

1399

1,485

1,536

1,622

M&M

776

804

845

873

914

943

984

Maruti

1,159

1,200

1,264

1306

1,370

1,411

1,476

Nalco

29

31

34

36

39

41

44

NTPC

124

128

135

139

146

150

157

ONGC

251

264

283

296

315

327

346

Powergrid

91

94

99

102

108

111

116

PNB

595

633

690

727

784

822

879

Ranbaxy

403

412

423

432

443

452

463

Rcom

35

40

49

54

62

68

76

Reliance

756

771

795

811

835

850

874

Reliance Infra

230

260

313

343

395

425

478

Reiance Power

44

49

57

62

71

75

84

Satyam

113

116

121

124

129

132

137

Siemens

473

497

529

553

585

609

642

SBI

1,823

1,890

2,017

2084

2,210

2,278

2,404

SAIL

56

58

61

63

67

69

73

Sterlite

81

84

89

92

97

101

105

Sunpharma

781

791

810

821

840

850

869

Suzlon

11

11

13

13

15

16

17

Tata Com.

188

194

206

213

225

231

243

TCS

1,482

1,500

1,525

1542

1,567

1,585

1,609

Tata Motors

235

245

260

270

285

295

310

Tata Power

86

89

93

96

100

103

107

Tata Steel

279

290

311

322

343

354

374

Unitech

16

18

22

24

27

30

33

Wipro

413

421

428

436

442

450

457

Zee

175

185

197

206

218

227

239

NOTE : S1, S2 and S3 are critical support levels while R1, R2 and R3 are resistance levels. Trading call depends on the price band


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5 Weekly positional calls

The Indian equity market ended with marginal gains snapping the two weeks losing streak. For the week the NSE Nifty and the BSE Sensex gained by 0.7% each. The NSE Nifty index found strong support at around the 200 Day moving average which is considered as critical support levels. On a year to date basis the Nifty has registered losses of 4.5%. However, the market has recorded gains of almost ~6% in the fiscal year.

After last week’s DMK drama, the Samajwadi Party (SP) came in the limelight this week after the SP leader Mulayam Singh Yadav was seen very keen on his goal of making it bigger in the next elections. The SP leader signalled at pulling the plug soon on the United Progressive Alliance (UPA) government according to reports.

Most of the global markets which lost their way in recent weeks were seen bouncing back with the US markets among the top gainers. However, the worry globally is that Cyprus’s bank-restructuring plan may be used as a ‘template’ for other nations.

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

Buy Tata Motors

Buy SBI

Buy TCS

Buy Coal India

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India Infoline Research

Major Indices

28-Mar-13

22-Mar-13

% Change

BSE Sensex

18,836

18,793

0.2

NSE Nifty

5,683

5,659

0.4

Dow Jones*

14,526

14,421

0.7

Nasdaq *

3,257

3,223

1.1

Hang Seng

22,465

22,226

1.1

Nikkei

9,380

12,636

25.8

Shanghai Comp

2,262

2,324

2.7

Bovespa (Brazil)*

54,156

55,577

2.6

* Close as on last Thursday

Major Indices

28-Mar-13

22-Mar-13

% Change

Rupee to Dollar

54.28

54.28

0.0

Rupee to Euro

66.9

66.9

0.0

Major Indices

28-Mar-13

22-Mar-13

% Change

Gold std. (Rs/10gm)

29,564.0

29,654

0.3

Silver (Rs/kg)

53,582.0

53,924

0.6

Crude Oil ($ per barrel)

96.7

90.9

6.4

Leader Speak

Kunal Sen, Chief Technology Development officer, Encyclopaedia Britannica
Kunal Sen, Chief Technology Development officer, Encyclopaedia Britannica (EB) tells Sudhir Raikar about his offbeat career path, key influences, holistic body of work and inventive business and technology initiatives at EB...More

Shefali Varma, Chairperson, The Ardee Group
Replying to Anil Mascarenhas of IIFL, Shefali Varma says, "Real estate will thrive in 2013. There has been a paradigm shift in terms of expenditure on lifestyle and luxury products. Housing also is a part of the changing environment and individuals are now in the look out for spacious luxurious properties which could add to their style quotient."...More

Dr. Santosh Sundararajan, CFO, Vascon Engineers Ltd
"In total, we have over 50 million square feet of developable area in our land bank."...More

Tony Cacciarelli, Product Marketing Manager, AJA Video Systems
"Technology for technology’s sake doesn’t get us anywhere if you don’t have a creative use for that. It is important to always be focused on the creative aspect. Our industry is a unique blend of technology and creative arts, these two things coming together and being used correctly they complement each other and balance things and this will really help the creative process to progress."...More

TS Kalyanaraman, Chairman, Kalyan Jewellers
Replying to Yash Ved of IIFL, T.S. Kalyanaraman says "The company has set an ambitious target of 100 showrooms by 2015. We plan to invest Rs20bn in FY14."...More

LC Singh, President and CEO, Nihilent
Sudhir Raikar in conversation with the legendary thought leader and transformation architect…More

Sujay Kalele, CEO, Kolte Patil Developers Ltd
Replying to Yash Ved of IIFL, Sujay Kalele says "In recent times, Pune market has seen a yoy increase of 14% in price per square feet. In the coming months, we expect a growth of
10-12%."...More

Rahul Pillai, Regional Director of India & Middle East, Interem
Replying to Yash Ved of IIFL, Rahul Pillai says, "About 40 % of our revenue comes from domestic relocation, 45 % from Intl & the balance comes from value added services like storage, settling-in services, industrial packaging."...More

Sunil Bhatia, CEO & MD, Blue Star Infotech Ltd.
Replying to Anil Mascarenhas of IIFL, Sunil Bhatia says, "We believe the era of big budget rip-and-replace IT strategies (characterized by bloated multi-year, budget-busting ERP implementations) is coming to a swift end, and most Indian IT companies that thrived in such an environment will need to evolve into new capabilities and value propositions."...More

Bharath Devanathan, COO, Groupon India
Replying to Anil Mascarenhas of IIFL, Bharath Devanathan says, "Internet has played a silent but important role in giving a boost to India’s consumption story. We like to call ourselves a lifestyle discovery engine. We earn when our merchant has acquired a customer."...More

Shrikant Pandit, Managing Director, Omnesys
Speaking with Anil Mascarenhas and Manu Kaushik of IIFL, Shrikant Pandit says, "We are working on providing products for the buy side as well where we give them an execution management system."...More

Naveen Bachwani, Head of Marketing Services business, Experian India Private Ltd
Replying to Yash Ved of IIFL, Naveen Bachwani says, "India has more than 120 million Internet users presently, and also has the 3rd largest Internet population in the world."...More

Anurag Mundra, Chief Financial Officer, M&B Switchgears Ltd
Replying to Anil Mascarenhas of IIFL, Anurag Mundra says, "M&B has an order book of around Rs1.50bn for FY13. We aim to closing FY14 with revenues of more than Rs7bn."...More 

Siddharth Nambiar, Co-Founder and Managing Director, OfficeYes.com
Replying to Anil Mascarenhas of IIFL, Siddharth Nambiar says, "Office Supplies are a universal requirement and B2B e-commerce has almost mind-blowing potential (in the US it is worth $3.7 Tn in comparison to $400 – size of B2B). Alternatively, the business clearly has the scale-potential for an IPO, sometime in the future."...More

Nirmal Singh, Founder and CEO, Wheebox.Com
Replying to Yash Ved of IIFL, Nirmal Singh says, "We plan to strengthen our base in B2B segment and expand our operations in B2I segment i.e Business to Institution and to assess over one million users in FY 13-14."...More

FM has done a commendable job: Manmohan Singh
In an interaction with MK Venu of Doordarshan, Prime Minister Manmohan Singh says, "Given the challenges facing our economy, the Finance Minister has done a commendable job."...More

Gulzari Babber, President, Chartered Institute of Management Accountants
In an exclusive interview with Dolly Mirchandani of IIFL, Gulzari Babber highlights, "CIMA welcomes everybody. You don’t have to be a financial expert to pursue CIMA. You can be an engineer, a doctor, commerce or science graduate. If you are thinking of pursuing CIMA, don’t be afraid, just go ahead and register yourself. You are entering a truly global community, where the sky is the limit."...More

Dr. Habil Khorakiwala, Founder Chairman & Group CEO, Wockhardt Limited
Yash Ved of IIFL provides you the highlights of a conference call where Dr. Habil Khorakiwala says "The India business grew by 14% and the Emerging markets business grew by 18% compared to the corresponding quarter of Financial Year 2011-12."...More

Vijay Kedia, Director, Atul Auto Ltd
Replying to Yash Ved of IIFL, Vijay Kedia says "We look forward to penetrate in more markets this year and manufacture on expanded capacity of 48000 vehicles from 24000 vehicles."...More

Virendra D. Mhaiskar, CMD, RB Infrastructure Ltd
Yash Ved of IIFL provides highlights of a recent concall where Virendra D. Mhaiskar says "IRB’s order book stands at approximately Rs. 91bn out of which Rs. 71bn worth of order book is to be executed in the next three years."...More

K Ravi, MD, NCL Industries Limited
Replying to Yash Ved of IIFL, K RAVI "The company proposes to set up a 30MW Thermal power project at a total capital cost of around Rs.1.50bn to overcome power crisis"...More

V Raman Kumar, Founder and former CEO, MModalInc
Replying to Anil Macarenhas of IIFL, V Raman Kumar says, "A number of funds are about to run their course and close in the next 2-4 years. I would say it is not a good place to be in."...More

Russian Finance Minister Anton Siluanov interaction at G20 summit
We will hold a series of discussions at the Finacial track level to prepare for the Leaders' Summit...More

Michael Fischman, former President, US Art of Living Foundation
In an exclusive interview with Anil Mascarenhas and Manu Kaushik of IIFL, Michael Fischman says, "People don’t have problems going to a university and studying from a professor, but they are apprehensive about learning from a spiritual teacher. Something as abstract as consciousness cannot be learned from a book, you need a teacher to guide you through the maze of your own mind."...More

Dheeraj Aggarwal, CFO, Venus Remedies Ltd
Speaking with Anil Mascarenhas and Yash Ved of IIFL, Dheeraj Aggarwal says "Over the next 3years, we plan to increase R&D share of revenue at 45-50%."...More

Pirojsha Godrej, Managing Director & CEO, Godrej Properties
Yash Ved of IIFL provides you highlights of the media interaction where Pirojsha Godrej says, "We are focused on residential projects in target cities and expect positive news for business development front for FY13."...More

Chalavadi NKD Prasad, CMD, Sai Silks Kalamandir Ltd
In an interaction with Anil Mascarenhas and Yash Ved of IIFL, Chalavadi Prasad says, "55-60% of revenue comes from women’s wear, 5-10% from kids wear and rest of the revenue comes from others including jewellery business."...More

Sundeep V. Bambolkar, Jt. Managing Director, Indoco Remedies Ltd
Replying to Yash Ved of IIFL, Sundeep V. Bambolkar says, "The company is strategically focusing on key markets by reviewing set up by changing business model to enhance sales and profitability in emerging markets."...More

Mukesh D. Ambani, Chairman, Reliance Industries
CNN’s Fareed Zakaria GPS features an interview with Mukesh Ambani, Chairman Reliance Industries, in his first television interview in nearly a decade. Ambani discusses his views on the global financial crisis and the international energy market. He also discusses the key drivers of the world economy including emerging markets and why he is ‘extremely bullish’ on India...More

Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon Ltd
Yash Ved of IIFL provides interactions during the conference call where Kiran Mazumdar-Shaw says, "The business outlook remains positive as we are fully geared to accelerate growth of all our business verticals."...More

BVR Mohan Reddy, Chairman and Managing Director, Infotech Enterprises
Speaking with Yash Ved of IIFL, BVR Mohan Reddy says "We hope to get back to a stronger growth path in the next one to two quarters."...More

N Sathyanarayanan, MD, Central Parking Services
Replying to Anil Mascarenhas of IIFL, N Sathyanarayanan says, "Parking management is a highly organized and profitable industry in the developed economies. For instance, there are about half a dozen billion dollar revenue companies in this space in the US alone. The largest parking company in the US has revenues of $ 19 billion."...More

Lalit Agarwal, Chairman and Managing Director, V-Mart Retail Limited
Yash Ved of IIFL provides highlights of the media interaction where Lalit Agarwal says, "About 68% of our revenue comes from apparels, 19% comes from Kirana Bazaar, 6% of from Non-Apparels and remaining 6% from Home Mart."...More

Sanjay Kumar, CEO and MD, Altran India
Speaking with Yash Ved of IIFL, Sanjay Kumar says "The firm is looking at both organic and inorganic routes to scale up operations to reach a workforce of 2,000 high technology Engineering experts over the next two years in India."...More

LL Soni, VP-Finance & Corporate Relations, Sangam (India) Limited
Replying to Yash Ved of IIFL, LL Soni, says "We are targeting 20-25% annual growth in revenue for next couple of years largely driven by value-added fabrics."...More

Krishnakumar Natarajan, Co-founder, CEO & MD, MindTree Ltd
Yash Ved of IIFL provides the highlights of a media interaction where Krishnakumar Natarajan says "We continue to be optimistic of the future demand scenario and significantly enhanced sales force both in US and Europe in Q3."...More

Tushar Pradhan, CIO, HSBC Mutual Fund
Replying to Anil Mascarenhas of IIFL, Tushar Pradhan says, "Our research shows that a disciplined approach to buying companies that look attractive on this matrix provides significant longer term outperformance."...More

Meenal Sinha, Associate Vice President, Imperial Servcorp
Replying to Yash Ved of IIFL, Meenal Sinha says, "90% of our clientele is large MNCs and they show a marked preference for our Serviced Offices."...More

Joy Saxena, Executive Director – Strategy & Planning, Techno Electric & Engg
Speaking with Yash Ved of IIFL, Joy Saxena says "We expect to add 1000mw capacity in wind energy by 2020."...More

N Chandrasekaran, Chief Executive Officer and Managing Director, TCS
Yash Ved of IIFL provides the highlights of a media interaction where N Chandrasekaran says "We believe that clients are going to invest in making their operations ‘digital-ready’ in 2013 and drive business growth. TCS is well positioned to help our clients in this journey."...More

Ritu Arora, Director Investment, Canara HSBC Oriental Bank of Commerce Life Insurance Company
Speaking to Anil Mascarenhas of IIFL, Ritu Arora says, "Industrial production growth and inflation are linked to some extent as high capacity utilization drives up core inflation. Thus, revival of capital formation is important to bring us back on sustainable high growth trajectory."...More

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

Read More Leader Speak...


Industry Newsletters

Agriculture Newsletter - March 18 to March 22, 2013

Automobile Newsletter - March 18 to March 22, 2013

Aviation Newsletter - March 18 to March 22, 2013

Banking Newsletter – March 18 to March 22, 2013

Consumer Goods Newsletter - March 18 to March 22, 2013

Economy Round Up – March 18 to March 22, 2013

FLAME Newsletter – March 20, 2013

Hotels & Tourism Newsletter - March 18 to March 22, 2013

Infrastructure Newsletter - March 18 to March 22, 2013

Insurance Newsletter – March 18 to March 22, 2013

IT Newsletter - March 18 to March 22, 2013

Metal & Mining Newsletter - March 18 to March 22, 2013

Mutual Fund Newsletter – March 18 to March 22, 2013

Merger & Acquisition Round Up - March 18 to March 22, 2013

Oil & Gas Round Up - March 18 to March 22, 2013

Pharmaceuticals Newsletter - March 18 to March 22, 2013

Real Estate Round Up - March 18 to March 22, 2013

Retail Newsletter - March 18 to March 22, 2013

Telecom Newsletter - March 18 to March 22, 2013


Articles  

Insure yourself against critical illnesses
The biggest advantage of a critical illness cover is that, one can meet the costs of treatment without exhausting years of savings...More

Things you need to verify before signing a rent agreement
A common mistake we usually make is not to read a rent agreement before we sign. Obtain a copy of the rent agreement and make sure you go through everything before you sign on the dotted line...More

Manage your insurance policy effectively to make it work better for you
Once the policy has been purchased, you must take necessary steps to manage you policy effectively. Neglecting this may result in claim rejection and render the policy meaningless....More

Salient features of IRDA guidelines for insurance plans
The new guidelines issued by IRDA aim to make insurance policies more customer friendly...More

What are fixed maturity plans & double indexation benefit
The basic objective of FMPs is to seek steady returns over a fixed period, aiming to protect investors against market fluctuations...More

What is commodity transaction tax?
CTT shall be levied on non-agricultural commodities futures contracts at the same rate as on equity futures that is at 0.01% of the price of the trade...More

What documents NRIs need to opt for home loan to buy house in India
For those who intend to buy a house, opting for a home loan is one of the meticulous ways of securing a home...More

Understanding concept of online commodity trading
Commodity trading is an investing strategy wherein goods are traded instead of stocks...More

Get top up plan to enhance your health insurance
Top up plans serve as add-ons to your indemnity health insurance policy. They are similar to the base health plan, except that they come with a higher deductible limit...More

Avail tax deductions & exemptions on stock investments
Listed below is a comprehensive picture of the deductions and exemptions that you are entitled to in various stock instruments, whether you invest directly or indirectly...More

What is securities transaction tax
STT is levied on every purchase or sale of securities that are listed on the Indian stock exchanges. This would include shares, derivatives or equity-oriented mutual funds units...More

Are you at risk of computer injury?
"Motion is the lotion for our joints. Movement and activity circulate joint fluid and promotes cartilage health and bone strength. Too much sitting with poor posture for more than four hours daily can indeed lead to degenerative joint process which affects knees, hips and spine, "says Dr Rajeev K Sharma, Senior Consultant Orthopedic & Joint Replacement Surgeon at Indraprastha Apollo Hospital, New Delhi...More

How to convert e-gold into physical
Here are some steps involved in converting e-gold into physical...More

Difference between stocks and bonds
Stocks offer an ownership stake in the company and bonds are similar to loans made to the company...More

Why is it difficult to part with your possession?
The endowment effect says that once you own something you start to place a higher value on it than others would...More

What is Budgeting?
Budgeting is one of the most important skills that you have. Planning and budgeting are crucial when it comes to preserving and growing your wealth...More

Difference between stocks and bonds
Stocks offer an ownership stake in the company and bonds are similar to loans made to the company...More

Why is it difficult to part with your possession?
The endowment effect says that once you own something you start to place a higher value on it than others would...More

What is Budgeting?
Budgeting is one of the most important skills that you have. Planning and budgeting are crucial when it comes to preserving and growing your wealth...More

What is SX40
The MCX-SX benchmark index—called SX40—is similar to BSE’s Sensex and NSE’s Nifty...More

Tips to avoid online credit card fraud
As the internet trading increases, so does the threat of organized and automated fraud. No longer does the fraudster need to be present or make a phone call to commit a crime...More

Tips to care about your medical insurance policies
Even a descent coverage amount today might look meager in the near future. Medical inflation proves to be high and individuals have to plan for the next 15 years accordingly....More

Important lessons to know when you start the financial life
To get some basic knowledge about how to save and how to invest money, these young guns need to have some basic understanding about these aspects...More

What should I expect from my life insurance agent?
The agent should inform you about the premium you will have to pay for your policy and you need to be informed of the various premium payment terms and options available to you....More

Your Investment Objective and Insurance
Before investing in any insurance plan, it is essential for policyholders to check the nature of plan and if it fulfills their requirements...More

Legends used in bank account statement
A bank account statement offers all transaction details carried out within a defined time period...More

Should you invest in tax free bonds?
The interest earned on tax-free bonds is exempted from taxation. But, the bonds are subject to capital gains tax...More

Mutual fund glossary
Know the terms commonly associated with your mutual funds...More

What to look for in your insurance contract
Personal data provided to the life insurance company forms a very important part for policy servicing and settlement of all claims...More

Concerns about India’s current account deficit
Current account deficit occurs when a country’s total imports are greater than the country’s total exports. This situation makes a country a net debtor to the rest of the world...More

Ethics Wake-up Call: Change Behavior before It’s too late
In the 2013 CFA Institute Global Market Sentiment Survey, 56% of survey respondents said that poor ethics is the main cause of mistrust in the financial industry. Of these, mis-selling by financial advisers tops the list. If you think you’re in that category, be introspective. Ask yourself, "Am I doing the wrong things?" If yes, make a commitment this year to set forth on a path of doing the right things...More

Stock Market Glossary
Know the terms commonly associated with the stock market...More

Understanding General Anti Avoidance
Investment made on or after September 1, 2010 and till March 31, 2016 may attract GAAR provisions until they are compliant...More

What is Nifty BeES?
Nifty BeES, a combination of a share and a mutual fund unit, trades on the capital market segment of NSE...More

Things you must know about making claims
The money from the claim can be received in various ways: In a lump sum, it can be used for clearance of the deceased insured’s debts. Lump sum amounts offer a lot of flexibility...More

Tax Planning: Important that we do our planning timely
Tax planning is not difficult if we take even a wee bit interest in the same. Infact, as I believe it this form of forced savings usually end up saving us from a financial mess, which may happen at the time of our retirement...More

Ten things to know about pension plans
In pension plans, you have to compulsorily buy an annuity plan for 2/3rd of the accumulated corpus...More

Credit score below 700 is dangerous for you
Majority of people troubled with negative credit score are not aware of how to get online credit report. Credit improvement agencies make the whole process simple for you...More

The world needs a pay rise
The survey is significant because when chief executives get worried they start to put off investment choices. They retrench, they make decisions to consolidate rather than expand...More

What is exchange earners’ foreign currency account
An EEFC is an account maintained in foreign currency with a bank dealing in foreign exchange...More

Building a solid health insurance portfolio
If you quit or change your job, you may be left without cover. It is important to get insurance for the entire family, in addition to the cover provided by the employer...More

Are you using a valid cheque book?
Cheque truncation system to provide a more efficient, secure and fast clearing process...More

16 Rules for Investment Success
It is vital that you protect purchasing power. One of the biggest mistakes people make is putting too much money into fixed-income securities...More

Investment covered u/s 80C Income Tax
You must choose the specific investment tool which is in sync with your investment pattern, financial goals and risk appetite...More

Know more about EURIBOR & mortgages
EURIBORs provide the basis for some of the world’s most liquid and active interest rate markets...More

Should you discontinue your ULIP after three policy years?
Most ULIPs especially those from the pre-2010 era—are front-loaded. Only a relatively small amount is available for investment...More

Getting married… Have you heard of a wedding policy?
An average wedding insurance policy covers the threats from fire, theft of jewellery, clothes and other expensive things and even cancellation of wedding due to death and other untoward incident...More

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


Canadian International School celebrates festival of colours
Cultural activities such as these help students assimilate and appreciate the richness and diversity of not just the local culture but also go a long way in enhancing the social and cultural fabric of CIS’s multi-cultural community...More

Reliance Trends presents ‘Bipasha Basu as show stopper for Shantanu & Nikhil at LFW
The glamour quotient for the evening, besides acclaimed designers Shantanu & Nikhil, had prominent models, film stars, corporates and some well-known people associated with fashion industry...More

Aircel 'Save Our Tigers' presents Fashion for a Cause
The show styled by Aki Narula, witnessed Bollywood actress Neha Dhupiawalking down the ramp with other models who wore the garments inspired by the Tiger and designed by ace designers like KallolDatta, NachiketBarve, ArjunKhanna, SwapnilShinde, Rocky S, Satya Paul and many others...More

Sounia Gohil presented a stylish fashion statement at LFW Summer/Resort 2013
Colors that danced a medley on the garments moved from different hues of blue/ivory to touches of nude/yellow for the very feminine creations...More

Axis unveils smallest HDTV bullet-style network camera
The camera´s functional and compact form factor makes it particularly suitable for installations such as in retail stores, boutiques, hotels or small offices that need easy-to-use and future-proof video surveillance, at a very attractive price...More

The Eros Foundation becomes patron of Educate Girls
Kishore Lulla, Chairman and CEO of Eros International is delighted to be supporting such a well established and far reaching project...More

Cuponation.in online Holi campaign with Poonam Pandey
The brand has roped in Poonam Pandey, well known for her promised stripping act during the World Cup...More

Hazel Keech dazzles the ramp for designer Purvi Doshi at LFW
Hazel donned the designer’s gorgeous creation of print depicting a forest with endangered species, representing the ‘Save The Endangered Species’ cause that designer Purvi’s collection ‘Sanrakhshan’ (Conservation) signifies...More

Shashi Tharoor becomes Quiz Master
The online video quiz show hosted by Dr Tharoor for Kerala Tourism will kick off early May and go on for two months...More


Michelin brings green guides to India
The launch of the Chennai and Tamil Nadu Green Guide edition is a first in the series, encouraging travelers from across the world to explore the rich heritage and culture of diverse India...More

LOUNGE MYX launches two new flavours in this Holi
With fresh fruits, herbs and exotic ingredients, these refreshing cocktails promise a blend of rich colours and flavours...More

Kalyan Jewellers inaugural function celebrated with fanfare
Kalyan Jewellers are planning to open 5 more showrooms in the financial year 2013-14. The next showrooms in Surat and Nagpur will be opened in the first quarter of FY 2013...More

Taste of Mumbai partners with American Express
A diverse range of renowned chefs and prestigious restaurants thrilled the audience with live demonstrations, gourmet dish offerings and a one-of-a-kind Farmers’ Market. A live band added to the ambience and raised the crowd’s spirits...More

Style your summer look with Voylla.com
Play around with beads, mix and match the colours with your outfit and get ready to have a glamorous summer!...More

Karadi Tales launches two new books
These books have been highly commended for their international potential, multicultural appeal and world-class artwork...More

Exploring 100% pure New Zealand at a discount
The programme involves participation from over 400 New Zealand tourism operators offering special rates and discounts to card holders, thus making it easier and cheaper for travellers to enjoy the best of New Zealand...More

Amitabh Bachchan is brand ambassador for Parle’s Gold Star Cookies
Amitabh Bachchan is brand ambassador for Parle’s Gold Star Cookies The recently launched cookies are the company’s latest offering in the premium cookie category and are available across India...More

Manish Malhotra pulled out all stops to close Day One at LFW Summer/Resort 2013
The stage was set with large posters of Indian films as a backdrop and the lilting tunes of the nostalgic decades...More

Manoj Kumar receives Lifetime Achievement Award for year 2012
The Nashik International Film Festival (NIFF) is the brainchild of Mukesh Kaneri who himself apart from being a visionary is a passionate enthusiast of the art of cinema...More

Fisher & Paykel Social Kitchen: A world class celebration of great taste!
The evening’s first session was dedicated to all things healthy as MasterChef Ritu Dalmia cooked with nutritionist Dr. Niti Desai and created two healthy yet delicious dishes – Prawn Salad and Glass Noodles with vegetable stir fry...More

Sony starts hunt for India’s first Indian Idol Junior
How the platform will open its doors to young singers between the ages of 5-15 as Indian Idol Junior starts its mission to showcase the best young singing talent in the country...More

Other Lifestyle News 

Watch Star Plus - anywhere, anytime, on Sky Go

Danone Narang Beverages launches B'lue

Graham Fink, Abhishek Kapoor to speak at Goafest 2013

Govt clears 6 invst proposals, AirAsia's India plans get wings

Tourism Philippines and Clark International Airport win accolades at Routes Asia 2013

unburn Arena brings Tiësto to town!

Ezeego1.com opens franchise in Hyderabad

SHARP introduces Car Air Purifier with Plasmacluster ion technology

60th National Film Awards: Reliance MediaWorks walks as winner for 15th time

Ghulam Ali's biography ‘Ghazal Wizard - Ghulam Ali’ released

CNN International and Caterham F1 Team announces multi-year partnership deal

YES BANK signs up as Official Partner of Pepsi IPL

MIME collaborates with Life Health Care, South Africa

Animation workshop for Kids by Anibrain XDI

 

 

 

 

     

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Disclaimer: We take due care in compilation of data, but under no circumstances shall we be legally responsible for the outcome of any action taken on the basis of information given in this newsletter. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advisors as they believe necessary. Indiainfoline takes no legal responsibility for accuracy or completeness of information or advice given. This material is for personal use only. "India Infoline Ltd (IIFL) and India Infoline Securities Ltd (IISL) do not have any positions in any of the scrips recommended and which are currently displayed on the site archives.indiainfoline.com and archives.5paisa.com. IIFL and IISL do not do any deals on their own account (proprietary trading) except for testing and demonstration purposes.IIFL and IISL also has an internal compliance manual in place which restricts the team who analyze and gives information on various companies and investment opportunities, to place orders on scrips only through IISL and only after the said recommendation has been displayed on the above mentioned.