Vol. 854 - December 05, 2014    

As expected: RBI leaves key rates unchanged

On expected lines, the RBI left key rates unchanged. On the basis of an assessment of the current and evolving macroeconomic situation, the RBI said it has been decided to:

  • Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0%;
  • Keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0% of net demand and time liabilities (NDTL);
  • Continue to provide liquidity under overnight repos at 0.25% of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75% of NDTL of the banking system through auctions; and
  • Continue with daily one-day term repos and reverse repos to smooth liquidity.
  • Consequently, the reverse repo rate under the LAF will remain unchanged at 7.0%, and the marginal standing facility (MSF) rate and the Bank Rate at 9.0%.

Assessment of the Global Economy

Since the fourth bi-monthly monetary policy statement of September 2014, the global economy has slowed, though the recent sharp fall in crude prices will have a net positive impact on global growth. The recovery in the United States is broadening on the back of stronger domestic consumption, rising investment and industrial activity. In the Euro area, headwinds from recessionary forces continue to weaken industrial production and investment sentiment. In Japan, growth may be picking up again on the back of stronger exports, helped in part by further quantitative and qualitative easing that has led to a depreciation of the yen. In China, disappointing activity and still-low inflation have prompted rate cuts by the People's Bank of China. In other major emerging market economies (EMEs), downside risks to growth from elevated inflation, low commodity prices, deteriorating labour market conditions and stalling domestic demand have become accentuated...Read More

Fifth Bi-Monthly Monetary Policy Statement, 2014-15 by Dr. Raghuram G Rajan

RBI Policy: Highlights of RBI governor interaction

Change in the monetary policy early next year expected: Chanda Kochhar

Contrary to the pressure from the government, technical advisory and the various other groups, RBI Governor Raghuram Rajan decided to not reduce the key interest rates in the central bank's monetary policy review. Retail inflation, as measured by the consumer price index (CPI), has decelerated sharply since the fourth bi-monthly statement of September. However, Dr. Rajan said that it would be premature to change the monetary policy at the current stage, yet hinted that if things progress as they are right now, early next year could see some rate cuts.

Chanda Kochhar, MD & CEO, ICICI Bank said, "The policy signals RBI's resolve to firmly contain inflation and inflationary expectations, while responding to positive developments in inflation and fiscal consolidation. The statement that a change in monetary policy stance is likely early next year if the current positive trends continue is very welcome. The economy has already received a tremendous boost in terms of sentiment and confidence. The results of government actions to energise investment activity should start playing out in the coming months. As this happens and interest rates moderate, we should see an improvement in growth going forward."

RBI sends clear message of reversal of the rate cycle, sooner than later: SBI

Interest rates unchanged along expected lines: Federal Bank

Apex bank continues to be cautious in its fight towards inflation: Sachin Sandhir, RICS

Real Estate sector will face challenges in short term with unchanged repo rate: Knight Frank India

CREDAI Chief demands Government intervention for low cost funding of real estate

Interest rate sensitive sectors like Auto will feel the heat of no rate cut: Zyfin Research

October Eight Core Ind growth at 6.3% Vs 1.9% (MoM)

The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stands at 165.9 in October, 2014, which was 6.3 % higher compared to the index of October, 2013. Its cumulative growth during April to October, 2014-15 was 4.3 %.


Coal production (weight: 4.38 %) increased by 16.2 % in October, 2014 over October, 2013. Its cumulative index during April to October, 2014-15 increased by 8.5 % over corresponding period of previous year.

Crude Oil

Crude Oil production (weight: 5.22 %) increased by 1.0 % in October, 2014 over October, 2013. The cumulative index of Crude Oil during April to October, 2014-15 declined by 0.9 % over the corresponding period of previous year.

Natural Gas

The Natural Gas production (weight: 1.71 %) declined by 4.2 % in October, 2014 over October, 2013. Its cumulative index during April to October, 2014-15 declined by 5.6 % over the corresponding period of previous year.

Petroleum Refinery Products (0.93% of Crude Throughput)

Petroleum refinery production (weight: 5.94%) increased by 4.2 % in October, 2014 over October, 2013. Its cumulative index during April to October, 2014-15 declined by 1.7 % over the corresponding period of previous year...Read More

Internal and external confidence has returned in India: Mukesh Ambani

In an event organised by Brown University, in association with CNBC TV-18 in Mumbai, Mukesh Ambani, the richest man in India and Reliance Industries chief, highlighted upon a number of issues including the growing investor's confidence in India, the telecom business, recent downfall in the oil prices and the regime change at the central government level.

Speaking about the new government, he said that confidence is back in India, both at the individual and institutional level. He was upbeat that "spirit of saying yes" has come back and the spirit of helplessness has gone.

"Confidence is the most important thing and both internal and external confidence has come back to India. I have no doubt in my mind that we will be the fastest growing economy in the world in next 2-3 years." he answered, when asked about what was the one thing that stood out during the present government's six months tenure at the center.

Talking about the sharp decline in the oil prices to USD 73 per barrel, he said that for a country like India, "USD 60-70 per barrel is a good price". Also, he said there have been a lot of theories going on about why there was an upsurge in the prices and then a subsequent sharp decline...Read More

India to be fastest growing economy in next 2-3 years: Mukesh Ambani

Strong revival in investment climate and growth expected in FY16: Rana Kapoor

Contrary to the pressure from the government, technical advisory and the various other groups, RBI Governor Raghuram Rajan decided to not reduce the key interest rates in the central bank's monetary policy review. Retail inflation, as measured by the consumer price index (CPI), has decelerated sharply since the fourth bi-monthly statement of September. However, Dr. Rajan said that it would be premature to change the monetary policy at the current stage, yet hinted that if things progress as they are right now, early next year could see some rate cuts.

Rana Kapoor, MD & CEO, YES BANK and President ASSOCHAM said regarding the development, "While the Reserve Bank of India has left policy rate unchanged in the fifth bi-monthly monetary policy; it has clearly opened the window for rate cuts to begin in the next review in Feb 2015 or possibly earlier. The sharp decline in global commodity prices especially crude along with moderation in domestic food prices have evolved as 'strong enablers' for a rate cut. Further, as government continues to remove supply bottlenecks and expedites pace of reforms post Budget, the RBI could complement Government's efforts by embarking on a rate easing cycle...Read More

Larger quantum of easing likely in 2015: Amar Ambani

Policy guidance re-affirms street's early rate cut expectation

Amidst clamour for a rate cut, RBI held on to its monetary stance by retaining repo rate at 8%. While raising caution about the transitory nature of base effect and a probable uptick in food inflation in the near term, the central bank lowered its March 2015 CPI forecast to 6%. It also now expects inflation to average around that level in the coming 12 months predicated on a normal monsoon and no adverse supply-side or financial shocks. With threat of imported inflation receding due to softening of commodity prices and a reasonably stable currency, RBI believes that risks to its January 2016 CPI target of 6% are evenly balanced at the current juncture. However, the central bank remains open to cut rates early next year (including outside the policy review cycle meaning March 2015) if the extant disinflation momentum strengthens, inflationary expectations in the economy starts waning and the government delivers on fiscal consolidation.

Expect 75-100bps easing in 2015

The policy outcome and commentary is in line with our belief that RBI wants to play safe and be sure about disinflation being driven by more structural than frictional factors. This also implies that once the policy stance is shifted the subsequent actions would be consistent with it. As we expect that inflation bounce in the watch period of Dec 2014 to Feb 2015 would not be worrisome, the central bank could announce the first rate cut in February or March 2015. Overall easing in 2015 is likely to be 75-100bps...Read More

Infosys Analyst Meet: What Vishal Sikka says

Speaking at analyst meet on Thursday, CEO Vishal Sikka reportedly said that the company is also looking at acquisitions in under penetrated geographies and verticals and newer services like artificial technologies and automation.

The company will renew existing services and enter newer services, stated Vishal Sikka. The strategic focus of Infosys will now be on 'renew' and 'new'.

Sikka quoted "The company is also planning to move its business process outsourcing (BPO) and infrastructure management services to the automation area."

"As of September, we are at USD 53,000 revenue per employee. We have been engaging with employees for great new technology," he said.

The customers rate us very high, give us usually the highest rating on quality, project delivery, on responsiveness in a crisis," Sikka reported during Infosys' annual interaction.

Sikka also said that India's IT services companies will have to turn their employees into "great finders of problems".

RBI emphasizes on making mobile banking mandatory for customers

The Reserve Bank of India has ordered Indian banks to make mobile banking as a mandate for all the customers. With reference to the density of mobile usage which currently exists in the country, the usage of mobile banking services is relatively less. The customers of various banks across the country, should consider activating their mobile banking services, on high priority. This is to ensure augmentation of mobile banking in India. To make this service readily accessible, RBI has asked the banks to simplify the process of mobile banking registration. It said that banks can reduce the time span between registration and activation of the process, in order to ensure hassle free operation for customers. RBI further adds the mobile pin (MPIN) generation process can be made easier by providing the facility to change MPIN at their respective ATMs. This process can be facilitated by the means of MPIN mailers (like PIN mailers for cards). Alternatively, banks can also set up a website specifically for carrying out this function. RBI also encouraged the banks to conduct multilingual education and awareness programs for customers across India, through diverse communication mediums.

Mobile banking registration, activation and usage can be further enhanced through the banks' respective Interactive Voice Response (IVR) system and phone banking channels, mails, SMS, website, kiosks, social media. RBI further suggested that whenever a customer performs any transaction at the ATM, an SMS alert can be instantly sent to his/her mobile number, as a reminder to activate mobile banking on his/her number. Digitalization is the need of the hour, hence activating mobile banking services would prove to be mutually functional. The implementation of this rule as mentioned by the RBI, should notably optimize the banking operations in the country.

Cement story: Focus on volumes depresses prices, says IIFL

The performance of the Indian cement industry appears to be below the mark. All major producers clocked strong double-digit despatch growth for November owing to focus on volumes, says an IIFL Institutional Equities report. According to cement dealers, demand has been weak across segments. Thus, higher despatches by companies resulted in a sharp increase in inventory at the dealer and consumer end, putting pressure on prices.

  • The current depletion in the demand of cement as well as an incessant brawl for market share, is affecting the prices adversely. Mentioned below is an extract of a recent IIFL Institutional Equities report which highlights the unsatisfactory state of the cement market across the country.
  • Cement prices declined upto Rs20 per 50kg bag (1-7%) in all regions except the west as demand continues to be weak and producers are fighting for volumes, according to the dealers.
  • Our channel checks indicate that all major producers clocked strong double-digit dispatch growth for November owing to focus on volumes. According to the dealers, demand has been weak across segments. Thus, higher despatches by companies resulted in a sharp increase in inventory at the dealer and consumer end, putting pressure on prices.
  • All-India average price is down 3% MoM and 1% YoY. The average price is ~5% below our expectation for November.
  • We expect cement prices to be under pressure (except for south) for December since the MNC players are likely to focus on volumes to meet year-end targets. In the southern region, producers indicated price increase of Rs30-60 per bag with some improvement in discipline (prices have fallen by similar amount in the last two months), the dealers state.
  • Although we continue to be positive on the sector from a medium-to-long-term perspective, there is downward risk to our FY15 earnings estimate to the tune of 5-10% due to lower-than-expected prices for the past two months...Read More

Auto majors reveal November sales volume

It was a week where auto majors disclosed their sales volumes for the month of November. India's largest auto maker Maruti Suzuki disclosed that it sold a total of 110,147 units for the month. This includes 100,024 units in domestic market. The company, which had found it a little difficult to gain good sales in the premium segment due to competition from other auto majors like Honda and Hyundai, has now found its saviour in Ciaz. In the last month, it sold 6,345 units of Ciaz.

Hyundai Motor India Ltd (HMIL), the country's second largest car manufacturer and the largest passenger car exporter registered the domestic sales of 35,511 units and exports of 18,500 units with cumulative sales of 54,011 units. Exports accrued by 14.3% from the previous year of 16,180 to the current year's 18,500 units while the domestic sales grew by 6 % to 35,511 from 33,501 units.

Mahindra & Mahindra (M&M), India's leading SUV manufacturer, registered the cumulative sales of 34292 units, which is 13% lower than the previous year's 39254 units. The passenger vehicles segment sold 13765 units in Nov'14 as against 16,771 units in Nov'13. Domestic sales stood around 32100 units as against 36,261 units for the same period. The 4 wheeler segment dipped marginally lower by 3% from 13186 units last year to 12748 units this year.

The commercial vehicle section of Eicher Motors saw sales of 2233 units gaining 15.8% from the last year's 1928 units, while that of Bajaj Auto zoomed by 48% with the sales clocking 47,311 units. Ashok Leyland, flagship of the Hinduja group, registered the domestic sales of 7,732 units for the month of November 2014, which is 44% higher than the previous year's 5,375 units. The total units sold in M&HCV and LCV in Nov'14 were 5204 and 2528 units respectively.

Ford India sold 12,762 vehicles in combined domestic wholesales and exports, compared to 12,050 vehicles in the corresponding month last year. Toyota Kirloskar Motor reported 11 percent increase in total sales at 14,134 units, while Honda Cars leading manufacturer of premium cars in India, registered monthly domestic sales of 15,263 units.

In the tractor segment, M&M regained its top spot with a sale of cumulative sales of 15,333 tractors while Escorts Agri Machinery registered the cumulative sales of 4,306 tractors.

Two wheeler segment saw TVS Motor Company posting a sales growth of 36% with total sales increasing from 161,908 units. However, world's largest two-wheeler manufacturer, Hero MotoCorp has clocked over 5 lakhs of units of two-wheelers in the month of November.The company despatched 547413 units of two-wheelers. It has added to its formidable presence with a manufacturing facility in Columbia and its bullish on its plans to expand its dealership network.

The Motorcyle division of Bajaj Auto dipped a minor 6%, with sales of 2,61,948 units, while Eicher motors posted a strong growth of 52% with a total of 27,542 units sales in the domestic markets. Suzuki Motorcycle India registered a 2% increase with 33,400 units.

The three wheeler segment also saw TVS Motor Company posting sales of 9,067 units and Atul Auto registering a sale of 3,807 vehicles. Recently Goldman Sachs bough 2.83 lakh shares of Atul Auto, skyrocketing its stock price.

Five mistakes Smart Investors make

Even the smartest of investors do make mistakes. The evidence is Peter Mallouk's own experience as a wealth manager. Mallouk has outlined the common errors that even smart investors commit while dealing with their finances. Here are the five listed out.

Constantly into active trading: Active trading refers to buying and selling of stock regularly and quickly, which sits in contrast to choosing investments carefully and then keeping invested into it for the long-term. The idea in play behind active trading is to outperform market. However, Mallouk pointed that the stock market works in lines of a Las Vegas Casino. In casinos, where house always wins, it is the brokerage houses that always wins in trading. The activity has both winners and losers, but time is crucial as it is seen that winners eventually become losers over time.

Investing on the basis of market momentum: Usually, investors who want to time the market believe in investing in an upswing and withdrawing during downtrends. But, Mallouk believes that market timing does not work. Rather it divides the investors into two groups, one of the liars and other idiots. He says that liars make money by making predictions, while idiots are those who only remember their times of victory. However, irrespective of timing, one should always be participating in the market as sitting on the sidelines could mean missing the upside.

Right understanding of financial information and performance: There is too much of financial information, but it is not necessarily clear or is understood correctly at all times. It is not necessary that a successful portfolio or a hedge fund will outperform each time. The investments should be on the basis of individual needs and not just on the basis of past performance of the fund or portfolio.

Overconfidence could get in the way: Mallouk wrote that a typical investor is not an expert, but believing so could get one in the trouble. Emotional factors like greed, overconfidence, fear or mental bias could be a great hurdle for an investor.

Selection of a financial advisor: More often financial advisors do much harm to a portfolio than good. An investor should seek information about the compensation structure of their advisors or in case of building a plan should solicit help of a Certified Financial Planner.

Only 48% of Indian adults have access to a bank account?

The Financial Inclusion Insights program (www.finclusion.org), operated by global strategic research consultancy, InterMedia, and supported by the Bill & Melinda Gates Foundation, shows that India has the highest account dormancy rate of the seven countries (Kenya, Tanzania, Uganda, Nigeria, India, Pakistan, Bangladesh) assessed in its 2014 cross country survey on financial behaviour. While 48% of Indian adults have access to a bank account, the highest rate of the seven countries, 47% of Indian accounts lie dormant. The survey findings also highlight that fewer than a quarter of Indian bank account users use advanced bank services, while only 0.3% of Indian adults use mobile money services - the lowest among the seven countries surveyed. InterMedia's report on the survey, Financial Services and Digital Pathways: A comparison of the nationally representative FII surveys conducted in Kenya, Tanzania, Uganda, Nigeria, Pakistan and Bangladesh includes analysis of financial behavior by gender, geographic location, urban/rural location, and other key socioeconomic factors. Gayatri Murthy, InterMedia's Research Manager for India said, "We hope that the information contained in this study will enable policy makers, regulators, and bankers to identify priorities to improve financial inclusion, design focused initiatives to push the inclusion agenda, and most importantly, measure the progress made." Girindre Beeharry, Director, India Country Office, the Bill & Melinda Gates Foundation said, "This study challenges the notion that financial inclusion is merely a matter of opening bank accounts. Hopefully its findings will mobilise further innovation in the sector, and further promote the potential of digital technology in ensuring that all Indians - wherever they may live - can access the financial services they need."...Read More

World's most densely populated city spreads north

Mumbai is projected to become the fourth largest city in the world after Tokyo, Delhi and Shanghai by 2030, from the sixth largest in 1990. But in terms of population growth within the metropolis, the adjoining districts are growing faster than the main metropolitan region. Among the districts, 8.3% of Maharashtra's population lived in Mumbai (suburban) or Greater Mumbai in 2001, making it the biggest district in the state. But in 2011, Thane, a suburb of Greater Mumbai, contained the largest proportion of the state's population at 9.8%.

While the population of Mumbai has more than doubled in the past five decades, the city has witnessed a drop in population growth in the past decade. Greater Mumbai is made up of two districts, Mumbai and Mumbai Suburban. Of the two, Mumbai witnessed a drop of 5.75% in the decadal growth rate of population between 2011 and 2001. This is largely because economic activity and housing has moved northward from the narrow, old--but still expensive--heart of the city. Mumbai's offshoots--the suburban district and Thane--have absorbed the metropolis' emerging expansion, with their population rising over the past decade...Read More

SAARC Summit: Making friends of enemies

Apart from the photo-op between Indian Prime Minister Narendra Modi and his Pakistani counterpart Nawaz Sharif, the 18th summit of South Asian Association for Regional Cooperation (SAARC) nations held recently in Kathmandu, Nepal concluded on a disappointing note. No major deals could be signed as Pakistan held back from signing two key pacts; Agreement for Regulation of Passenger and Cargo Vehicular Traffic and SAARC Regional Agreement on Railways. The only pact that was signed was SAARC Framework Agreement for Energy Cooperation (Electricity).The Kathmandu Declaration highlighted "deeper integration for peace and prosperity" among member states. Some of the key features of the declaration are mentioned in the BOX below.

In his speech addressing the regional leaders on 26th November, Modi emphasised economic cooperation and regional trade. He said: "Today, less than 5% of the region`s global trade takes place (among ourselves). Even at this modest level, less than 10% of the region`s internal trade takes place under the SAARC free trade area. Indian companies are investing billions abroad but less than one percent of that flows into our region." Modi highlighted the role of free trade agreements between India and Sri Lanka which have strengthened relations between the neighbours...Read More

FM stressed need for sharing of global experiences in the field of mergers and acquisitions

The Union Minister of Finance, Corporate affairs and Information and Broadcasting Arun Jaitley stressed the need for sharing of global experiences in the field of mergers and acquisitions to fully develop the competition law and practice. The Finance Minister was delivering the Inaugural Address after inaugurating the 'International Competition Network (ICN)'s Merger Workshop, 2014' at a function here today in the national capital. He hoped that the workshop would help in achieving that objective among others. The two-day workshop is being hosted by the Competition Commission of India (CCI), being a co-chair of the Merger Working Group. The theme of the workshop is "International Cooperation and Remedies in Merger Review". The Finance Minister also released the book entitled "Competition Tracker", a compilation of Orders issued by CCI, on this occasion.

The Finance Minister Jaitley said that mergers and acquisitions have transnational effect. He further said though there would continue to be mergers and acquisitions leading to big corporate conglomerates yet there is need to draw a red line to avoid dominance and curbing of open competition in market by them. He said that is why we need an active and responsive regulator. However, the Finance Minister cautioned about growth of multi-sectoral regulators in recent times and chances of their crossing in each other's jurisdictional areas. He hoped that the current Workshop will also look into this aspect and come out with positive and practical suggestions/recommendations in this regard. Earlier delivering the Welcome address, Shri Ashok Chawla, Chairman, Competition Commission of India (CCI) said that competition is very essential in the market as it leads to innovations and is helpful to the consumers at large in order to get best and new products at reasonable and competitive prices. He said that mergers and acquisitions are recognized world over as they help in organic growth of the market. He however cautioned that some mergers and acquisitions adversely affect the competition and therefore, there is need for regulation...Read More

India's Direct selling Industry could reach Rs. 64,500 crore by 2025

The FICCI-KPMG report on the direct selling industry in India, released by Ram Vilas Paswan, Union Minister of Food, Public Distribution and Consumer Affairs, in Delhi today at a FICCI conference - "DIRECT 2014", indicates that the direct selling industry has the potential to provide self-employment to 18 million. The report indicated that with the right policy stimulus, this industry might well reach its potential of INR 64,500 crores, a nine-fold increase in twelve years. Minister Paswan released this report along with Keshav Desiraju, Secretary Consumer Affairs, Sidharth Birla - President of FICCI, Kurush Grant ED of ITC, as well as other industry representatives.

The FICCI conference was attended by a number of India and global industry dignitaries and other stakeholders. Direct selling is a global industry, operating in over 100 countries with a market size of US$167bn. It refers to the selling of goods and services to the consumers away from a fixed retail outlet, generally in their homes, workplace etc., through explanation and demonstration of the product by direct sellers. USA, Japan and China are key markets for the industry. Back home in India the market is estimated to be around INR 7,200 crores, which is a far smaller percentage of the size of the economy, when compared to other countries. The FICCI-KPMG white paper launched today highlights the challenges faced by the industry in India, and suggests a roadmap for enabling the industry going forward...Read More

E-commerce will power 'Make in India', say industry group heads

Industry group leaders made a strong pitch for a liberal regime for B2C ecommerce as a precursor to kick-starting a manufacturing boom in India. Emphasizing the growing contribution of the E-commerce industry to the Make in India campaign, leading stakeholders of the sector - eCommerce Association of India (ECAI), All India MSME Association (AIMA) and industry voices at ASSOCHAM urged the government to liberalize inventory led B2C Ecommerce which would create tremendous impetus for the growth of local manufacturing and in turn further boost the Make in India program in the country.

Prime Minister Modi's vision of Make in India is one of the most ambitious programs of the new government to promote local manufacturing in the country. The rapid growth of Ecommerce in the country is the perfect engine to accelerate the Make in India campaign. It has pushed the growth of small and medium enterprises by negating the need for physical infrastructure investments and by cutting down the advertising and promotion costs. This growth can multiply if the local manufacturers are able to sell directly to E-commerce companies that allows economies of scale to kick in. Currently the government has prohibited Ecommerce companies with any foreign investment to follow the inventory led B2C model, thus closing the most beneficial impact of the sector to local manufacturers.

Converging the Make in India, Digital India and Skill India, E-commerce platforms have employed technology to push for the growth and development of local manufacturing. It has sought to customize old logistics services like India Post and given them a new lease of life. Labour intensive sectors like textiles, leather, gems and jewellery making have got a new lease of life from the growth of the E-commerce sector with many small and medium sized manufacturers of unbranded products being able to sell their goods at competitive prices on a much wider platform. With new trends and fashion design emerging, most of the youth from tier 2 and 3 towns are able to acquire the requisite skills and get employment in these factories...Read More

Govt raises excise duty on petrol, diesel

Government has raised excise duty on petrol by Rs2.25/ltr and excise tax on diesel by Rs1/ltr, says report. Earlier Government had raised excise duty on petrol and diesel by Rs 1.50 a litre each in November 14. There will be no impact on retail prices of petrol & diesel due to hike in excise duty, says report. Earlier State-run oil marketing companies have reduced petrol prices by 91 paise per litre and diesel prices by 84 paise.  This is the seventh consecutive reduction in petrol prices in the last four months. In Delhi, petrol will cost Rs 63.33 a litre as compared to Rs 64.24 per litre previously and in Mumbai, it will cost Rs 70.95 per litre - a reduction of 96 paise. Report said that Oil companies have so far reduced petrol prices by Rs 10.27 per litre since August 1 and diesel by Rs 6.46 per litre.

LPG rate cut by Rs 113

The Price of non-subsidized cooking gas (LPG) was cut by a steep Rs.113 per cylinder. A 14.2kg cylinder of non-subsidized LPG will cost Rs.752, down from Rs.865 previously, in Delhi, oil companies said. In five monthly reduction, non-domestic LPG rates have been slashed by Rs.170.5 per cylinder.

RIL signs MOU with Petroleos Mexicanos

Reliance Industries Limited (RIL) and the Mexican state owned company, Petroleos Mexicanos (PEMEX) have entered into a Memorandum of Understanding (MOU). As per the MOU, RIL will cooperate with PEMEX for assessment of potential upstream oil and gas business opportunities in Mexico and jointly evaluate value added opportunities in International Markets. RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry including for deep-water oil and gas exploration and production. The MOU envisages sharing of RIL's pioneering expertise in deepwater development & best practices in East Coast of India and RIL's experience in shale gas in United States. RIL will also provide technical support and share experience with PEMEX for refining value maximisation and other technical optimization strategies.

ADB approves US$200mn loan to strengthen finances in Punjab

The Asian Development Bank (ADB) and the Government of India signed a US$200mn loan to help India's Punjab state improve a weak fiscal situation that is undermining growth, investment and socioeconomic development. "Untargeted public expenditure including various transfer payments has left Punjab in a financial bind which is weighing on public investment and the delivery of public services," said M. Teresa Kho, Country Director of ADB's India Resident Mission, who signed the agreement for ADB. "ADB's loan will help the state government to introduce reforms which will strengthen finances, encourage fresh investment and free up resources for priority spending needs."

With large committed expenditure, the state government has been forced to borrow heavily in recent years to fund its spending needs, creating a vicious cycle of debt and deficit. Moreover, untargeted power subsidies are adversely affecting environmental sustainability in the state by exerting pressure on water resources. Tarun Bajaj, Joint Secretary, Department of Economic Affairs at India's Ministry of Finance, who signed the agreement on behalf of Government of India, said: "The Punjab Development Finance Program will improve targeting of public expenditure in the areas of health, education, power, and public works. Moreover, it addresses environmental issues that are undermining sustainability considerations through direct feedback loops from subsidy to water table depletion." Jaspal Singh, Secretary (Expenditure), signed on behalf of the Government of Punjab.

Savings produced by these actions are expected to free up extra space for spending in other areas, allowing capital outlays as a percentage of gross state domestic product to rise from less than 1% in fiscal year (FY) 2012 to an expected 2.4% by FY2016. Fiscal savings between FY2014 and FY2018 are expected to reach US$766mn. The loan funds will be released in three tranches as policy milestones are met, with the first amount set at US$50mn. ADB is also providing a technical assistance grant of US$400,000 to raise the fiscal management skills of key institutions overseeing the reforms. The program will run for about two and a half years with an expected completion date of June 2017. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members - 48 from the region. In 2013, ADB assistance totaled US$21.0bn, including cofinancing of US$6.6bn.

Poll shows overwhelming public support for new Road Safety Bill

In a poll jointly commissioned by SaveLIFE Foundation and the Global Road Safety Partnership (a hosted project of the International Federation of Red Cross and Red Crescent Societies), with support from Bloomberg Philanthropies, the general public has expressed strong support for the Road Transport and Safety Bill, 2014. The report titled, "Road Transport & Safety Bill 2014: Public Satisfaction Survey" was released earlier today by Former Union Home Secretary G.K. Pillai in the presence of several families affected by road accidents. The Poll conducted by international research agency Kadence Research covered 12 cities with a total of 38% respondents belonging to rural touch-points.

Key highlights

  • Protection for children during commute: 97% of respondents said they would favor protection for children during commute in the new law.
  • Reforming Regional Transport Offices: 96% of respondents say they favor reforming RTOs to make it easier, more efficient and corruption-free to obtain a driver's license.
  • Increasing penalties: 91% of respondents believe that increased penalties for road safety violations will improve road safety
  • 81 % of all respondents "strongly favor" passing of the proposed road safety Bill and 90 %believe that passing the Bill will be an important accomplishment for the Indian Parliament.

In the past decade, more than 12 lakh people have been killed in road crashes in India. This translates to over 380 deaths a day, equivalent to a jumbo jet crash. Survey findings also revealed that 3 out of 5 respondents feel unsafe while traveling on Indian roads as drivers, pedestrians or passengers. In addition to showing overall support for the Bill, 98% of the respondents also favor several specific provisions in the Bill. These include making it mandatory for all drivers to be trained before getting a license, protection for children during commute, increased electronic enforcement and heavy penalties for not complying with traffic laws, and making it mandatory for all two wheeler riders to wear helmets...Read More

Unlikely relief from high borrowing costs dents auto purchase sentiment: ZyFin

ZyFin Research's Vehicle Purchase Sentiment Index suggests that the Reserve Bank of India's (RBI's) expected postponement of a rate cut is hindering a recovery in auto sales. The ZyFin index has declined in November 2014 by 3.4 points to 21.0, after continuously suggesting an uptick since the start of the financial year. Concurrently, consumers have expressed a strong deterioration in their borrowing comfort, highlighting the urgency for softening in interest rates in boosting India's aggregate demand. This decline comes despite a recovery in consumers' outlook on employment and even inflation. Policy-makers should pay heed to this as an early signal.

The Vehicle Purchase Sentiment Index reflects plans to purchase vehicles over the next six months. It is based on a monthly survey of 3,000 consumers in 11 cities across India, representing urban consumers. These are Ahmedabad, Bengaluru, Chennai, Delhi, Guwahati, Hyderabad, Indore, Mangalore, Kolkata, Lucknow and Mumbai. A score above 50 reflects optimism, while below 50 is an indication of pessimism.

Key Highlights of the ZyFin Vehicle Purchase Sentiment Index for November 2014:

  • The ZyFin Vehicle Purchase Sentiment Index has registered a score of 21.0 in November 2014, as compared to 24.1 in the previous month. Sentiment to purchase both two- and four-wheelers over the next six months has declined.
  • Regionally, only the South showed improvement in willingness to purchase vehicles, as compared to the previous month. The index here improved to 32.3 in November 2014, from 30.1 in the previous month. The North and West severely lowered their sentiment, dropping to 15.0 and 25.5, respectively, as compared to 23.2 and 30.8 in the previous month. The score remains most depressed in the East, where the score dropped by 2.2 points to 4.4 in November...Read More

Unlikely relief from high borrowing costs dents auto purchase sentiment: ZyFin

ZyFin Research's Vehicle Purchase Sentiment Index suggests that the Reserve Bank of India's (RBI's) expected postponement of a rate cut is hindering a recovery in auto sales. The ZyFin index has declined in November 2014 by 3.4 points to 21.0, after continuously suggesting an uptick since the start of the financial year. Read More...

Hero MotoCorp to widen reach in Latin America

Hero Group is bullish on strengthening its business in Latin America, as they plan to open up manufacturing facilities in Brazil and Argentina. It already has an upcoming plant in Colombia, and the company hopes that it will widen its reach in the region. Read More...

Meru Cabs offers 30% cash back on every trip paid using 'My Wallet'

Meru Cabs, India's No. 1 cab service now offers its valued customers an exciting 30% cash back on every trip paid using the 'My wallet' on Meru Cabs App. Customers can avail of this offer on Meru, MeruFlexi and MeruGenie. Meru's recently introduced Cab App, is another example of its commitment to innovation, The Meru Cab App has cool features like one touch booking, tracking your cab and India's first Cab-Wallet. The Cab-Wallet feature in the Meru Cabs app, in partnership with Citrus Pay, can be used for payment of the trip. Read More...

Hyundai Elitei20 achieves a landmark of 56,000 bookings

Hyundai Motor India Limited (HMIL), the country's largest exporter and the second-largest car manufacturer, has achieved yet another milestone for the Elite i20. Marking the World Premier of the 2nd Generation of i20 in India on August 11, 2014, the car has received highest ever bookings of 56,000 units within 4 months of its launch. Read More...

Tata Motors bags orders for 1542 SUMO GOLD's utility vehicles

Tata Motors announced that it has received an order for 1542 SUMO GOLD utility vehicles from various Police & law enforcement agencies across the country. As one of the country's largest selling utility vehicles, the Sumo Gold is one of the most powerful entry-level SUVs, conceived keeping in mind comfort and robust all-round performance. With peak power of 85PS@3000 rpm, the Sumo Gold provides fuel economy of about 15 kmpl, best-in-class ground clearance of 182 mm, a rugged un-matched drive experience, with lowest cost of ownership - a critical partner for law enforcement agencies across the country. Read More...

Hero MotoCorp Ltd announces Tiger Woods as its First Global Corporate Partner

Hero MotoCorp Ltd (HMCL), the world's largest manufacturer of two-wheelers, today announced 14-time major champion Tiger Woods as its Global Corporate Partner. Woods joins the New Delhi (India)-headquartered Hero - a keen promoter of various disciplines of sports for over two decades now - at a time when the company is aggressively expanding its global footprint. Read More...

MRF plans to ramp up its manufacturing facilities

MRF Tyres, as per media reports, is planning to increase its manufacturing capacity across eight of its plants, which will attract an investment of Rs. 4000 crore. The expansion plan is initially proposed to be executed in the next three years, and will be used in ramping up the manufacturing facility along with the introduction of new products. Read More...

Ford India Rekindles Festive Spirit with 'Diwali Returns' Across its Dealerships

Reigniting the spirit of festivities with exciting offers on new vehicle purchase, Ford India is bringing back the celebration to its dealerships with a unique, customer-focused campaign - 'Diwali Returns'. Celebrated from Dec. 3 to Dec. 7, Diwali Returns will offer exciting schemes and assured gifts to customers on its technologically advanced, fuel efficient, safe and reliable cars. Customers booking a Ford vehicle during the five-day period will win assured gifts such as LED TVs, washing machines, microwaves, smartphones and more, worth up to Rs. 5 crore. Read More...

Gautam Hari Singhania first Indian to race at Ferrari Finali Mondiali 2014

A keen enthusiast of fast machines since his childhood, Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited is the first Indian to reach the finale of the world's biggest Ferrari event - Finali Mondiali, to be held from 3rd to 6th December 2014 at Abu Dhabi's Yas Marina circuit. This extravagant racing event for the first time in the history will be hosted outside Europe. Read More...

Volkswagen India wins 'Safety Technology of the Year' Award

Appreciating the efforts taken by Volkswagen India of introducing Dual Front Airbags for driver and co-driver as a standard safety feature across all variants of Volkswagen Polo, Auto Tech Review magazine honoured the company with 'Safety Technology of the Year Award' at its first 'Indian Automotive Technology and Innovations Awards' ceremony held in New Delhi. Read More...

Toyota Motor Corp will recall 190,000 vehicles in Japan and China

After Honda, its now the turn of Toyota Motor Corp, which will recall 190,000 vehicles in Japan and China to replace potentially defective front passenger-side air bags made by Takata Corp, adding to the woes of the consumers. Toyota will recall 185,000 vehicles across 19 models including the Corolla and Alphard in Japan. Another 5,000 cars will be recalled in China. Read More...

Apollo Tyres launches India's largest loader tyre at IMME

Apollo Tyres launched AWL 822, the largest loader tyre produced in India, at the ongoing 12th International Mining and Machinery Exhibition (IMME) 2014 in Kolkata. The company also introduced ALT 188 TX tyre with the industry's first traction tread design at the exhibition. Read More...

Rolls-Royce delivers 1,500th Trent 700 engine

Rolls-Royce celebrated the delivery of its 1,500th Trent 700 engine, with customer AirAsia X. The engine first entered service in 1995 as the first member of the Trent engine family today it has accumulated more than 30 million flying hours and is in service with 66 operators. More than 1,650 Trent 700s are now in service or on firm order, making it the largest Trent engine fleet in service. Read More...

JK Tyre showcases the largest tyre in India at IMME 2014

JK Tyre & Industries, pioneers of radial tyres in India, announced the commercial launch of the biggest ever tyre in India at this year's 12th International Mining & Machinery Exhibition in Kolkata. The company also launched 18.00-25 VEM Smooth tyre underlining company's aggressive approach to enhance presence across industries and geographies. Read More...

Hyundai's first ever corporate campaign, Life is Brilliant crosses over 4 million views

Hyundai Motor India Ltd (HMIL) the country's second largest car manufacturer and the largest passenger car exporter launched its first-ever corporate campaign focusing on India, 'Life is Brilliant' on 22nd Nov, 2014. The campaign designed to illustrate Hyundai Motor India's aim of making customer's lives happier has received an overwhelming response on the digital space garnering over 4 million views on YouTube in less than two weeks. The campaign has resulted in striking an emotional connect with Indian consumer and has created a buzz in the digital medium by trending and becoming the most watched YouTube viral film in the Hyundai portfolio in India. Read More...

Rupee expected to depreciate further to 62.4 in January: ZyFin Research

ZyFin Research's Forex Forecast indicates that the rupee will weaken further over the coming month to 62.4 by January 2015. This would be a 10-month low against the US dollar (USD) for the rupee. Indian exports have once again come under stress, leading to a run on its USD reserves. Additionally, an uncertain economic recovery is not helping India's investment rating, thereby leading to a USD outflow. An improving US economy accentuates the threat of reduction in demand for rupee in favour of USD among foreign institutional investors (FIIs). The Reserve Bank of India (RBI's) decision to maintain a high interest regime should, however, help in checking any major volatility in rupee exchange. Furthermore, with economic growth gathering momentum over the course of 2015, we expect the exchange rate situation to improve towards the second half of the year and attain a level of around 58 per USD by October. The ZyFin Forex Forecast is an estimate of INR-USD exchange rate (monthly average), three months ahead of time. One-of-its-kind in India, it can be used by trade analysts, investors and market participants to devise trading and hedging strategies. Giving his views on the January number, Debopam Chaudhuri, Chief Economist, ZyFin Research, said, "2014 remains a volatile year for the rupee exchange rate, despite some significant recovery in India's current account deficit. With an expected rise in US interest rate regime, there is a high probability of a significant decline in demand for rupee from FIIs in the short run, leading to further depreciation. In this context, the RBI's decision to not cut rates may help reduce the volatility in exchange rate until India regains its position as a lucrative investment destination."

Change in the monetary policy stance at the current juncture is premature: RBI

Unfazed by the expectations, RBI Governor Raghuram Rajan maintained the status quo on key interest rates in the central bank's monetary policy review. However, there were hints that if the current inflation momentum and changes in inflationary expectations continue, and fiscal developments are encouraging, a change in the monetary policy stance is likely early next year. RBI, in its Fifth Bi-Monthly Monetary Policy Statement, decided to keep the policy repo rate unchanged at 8.0%, as well as reverse repo rate will remain unchanged at 7.0%. The Apex bank also decided to keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL)...Read More

Govt will review gold import policies: Rajan

Reserve Bank of India Governor Raghuram Rajan reportedly said the decision to scrap a rule mandating traders to export 20% of all gold imported into the country was a "reasonable" one.The government will review its gold import policies, says Raghuram Rajan. RBI Governor Raghuram Rajan reportedly said that a rate cut was likely early next year if the inflation momentum continues and if fiscal developments are encouraging. RBI's Final guidelines on Bharat Bills Payment System. The Reserve Bank of India has released the final Guidelines for implementation of Bharat Bill Payment System (BBPS). In terms of the guidelines, the National Payments Corporation of India (NPCI) will function as the authorised Bharat Bill Payment Central Unit (BBPCU) to set the standards for BBPS processes which need to be adhered to by all operating units (Bharat Bill Payment Operating Units - BBPOUs) under the system. NPCI, as the BBPCU, will also undertake clearing and settlement activities related to the BBPS as outlined in the guidelines...Read More

RBI eases 80:20 gold import curbs

Axis Bank raises Rs. 5,705 crores via Infrastructure Bond

Axis Bank announced that it has closed its senior unsecured redeemable non-convertible debenture issue of amount Rs 57.05 billion and priced at 8.85% p.a. payable annually maturing on December 05, 2024. The NCD's are rated AAA by CRISIL & ICRA. The NCDs shall be allotted to eligible investors on 05th December 2014...Read More

RBI doubles limit of prepaid instruments to Rs 1 lakh

Based on a comprehensive internal review and the feedback received from the entities currently authorized to issue prepaid payment instruments, RBI has considered necessary to amend certain provisions of the existing guidelines/issue additional guidelines for ensuring growth of the prepaid payment industry...Read More

Dena Bank lowers interest rates on FCNR (B) / RFC term deposit

Dena Bank, India's trusted family bank, has adjusted its rate of interest downward on FCNR (B)/RFC term deposit with effective from December 1, 2014. However, the rate for 1 year to less than 2 years is slightly up for the month of December, 2014. For FCNR (B) deposits of 3 years to less than 4 years, in US Dollar terms, the revised interest rates are 4.11% as compared to 4.14% previous rates effective from December 1, 2014...Read More

Looking forward to structural changes by GoI for domestic economy: KPMG India

Contrary to the pressure from the government, technical advisory and the various other groups, RBI Governor Raghuram Rajan decided to not reduce the key interest rates in the central bank's monetary policy review. Retail inflation, as measured by the consumer price index (CPI), has decelerated sharply since the fourth bi-monthly statement of September. However, Dr. Rajan said that it would be premature to change the monetary policy at the current stage, yet hinted that if things progress as they are right now, early next year could see some rate cuts...Read More

Stable prospects for Asia-Pacific top 41 Banks in 2015 even as China Slowdown remains a hot spot: S&P

Asia-Pacific major banks posted solid financial results in the first half of 2014, in line with Standard & Poor's Ratings Service's expectations. Although persistent low interest rates and intense domestic competition continued to squeeze most banks' net interest margins (lending rates minus costs of funding), they managed to maintain or slightly improve their return on assets (ROA), Standard & Poor's said in a report. Lower credit costs, higher fee income, and more profitable loans supported their performance, while gross nonperforming loans (NPLs) remained low, thanks to healthy economic conditions and low interest rates in 2014...Read More

Real Estate sector will face challenges in short term with unchanged repo rate: Knight Frank India

Not bowing down to the pressure from the Finance Minister, Dr. Raghuram Rajan, RBI Governor said that there would be no rate cuts in the central bank's bi-monthly monetary policy review. Dr. Rajan said that it would be premature to change the monetary policy at the current stage, yet hinted that if things progress as they are right now, early next year could see some rate cuts...Read More

Interest rates unchanged along expected lines: Federal Bank

Shyam Srinivasan, CEO, Federal Bank said that the credit policy announcement made today by the RBI Governor was "along expected lines" both in content and the underlying tone, which suggested an accommodative stance in the period ahead (even outside of policy review cycle), should data flow suggest continued easing up of inflation... Read More

RBI sends clear message of reversal of the rate cycle, sooner than later: SBI

Contrary to the pressure from the government, technical advisory and the various other groups, RBI Governor Raghuram Rajan decided to not reduce the key interest rates in the central bank's monetary policy review. Retail inflation, as measured by the consumer price index (CPI), has decelerated sharply since the fourth bi-monthly statement of September. However, Dr. Rajan said that it would be premature to change the monetary policy at the current stage, yet hinted that if things progress as they are right now, early next year could see some rate cuts...Read More

HSBC: RBI decision promises to cut if inflation stays low

The RBI kept the policy rate unchanged as expected, but accompanied the decision with a dovish statement. It promised to change its policy stance early next year, if it becomes more certain about the durability of the current disinflationary trends. A lot now depends on oil prices staying low, a normal monsoon and fiscal discipline. Nevertheless, the RBI is now more certain of achieving its 6% CPI target by January 2016, calling the risks "evenly balanced" as opposed to elevated in the previous meeting. In our assessment, the RBI will cut policy rates by 50bps in 2015. The space for much more is constrained by its desire to achieve a CPI target of about 4% beyond January 2016...Read More

Govt looks forward to the RBI supporting the Revival of Growth and Employment: Finance Ministry

The Ministry of Finance states that it is encouraging that the Reserve Bank of India (RBI) has taken note of the structural change in the outlook for inflation. Responding to the Monetary Policy Statement issued by the RBI today, the Ministry states that the Government looks forward to the RBI supporting the revival of growth and employment. In the weeks ahead, the Government and RBI will work towards a monetary policy framework that will help institutionalize the gains achieved on the inflation front, so as to reduce inflationary expectations and further support the revival of investment and growth, the Ministry added.

Cabinet clears amendments in the Regional Rural Banks (RRBs) Act, 1976

The Union Cabinet, chaired by the Prime Minister Narendra Modi, today approved the amendments in the Regional Rural Banks (RRBs) Act, 1976 to enhance authorized and issued capital to strengthen their capital base and to bring flexibility in the shareholding between Central Government, State Government and Sponsor Bank. The term of the non-official directors appointed by the Central Government will be fixed not exceeding three years. The amendments will ensure financial stability of RRBs which will enable them to play a greater role in financial inclusion and meeting credit requirements of rural areas and the Board of RRBs will be strengthened...Read More

HSBC appoints Pranjul Bhandari as Chief India Economist

HSBC Securities & Capital Markets (India) Private Limited has announced the appointment of Pranjul Bhandari as Chief India Economist. In her new role, she will be responsible for developing the firm's position on macroeconomics and public policy in India, leading the firm's economics research franchise from Mumbai. Pranjul will be part of the Research team based in Mumbai and will be reporting regionally to Frederic Neuman, Co-Head Asian Research, HSBC...Read More

Axis Bank expects to double credit card business

Report stated that Axis Bank is expecting icredit card business to double in terms of volume during the next three years, quoted Jairam Sridharan, president - retail lending and payments, Axis Bank.The bank is also expecting the credit card spend to grow two to three times from the current Rs 1,000 crore a month, by the time, Jairam Sridharan reported. According to the media reports, Sridharan added that the credit card business is expected to grow at a healthy level in the future. At present we have 1.5 million credit cards and we are expecting this to double in next three years.The bank has registered a 27% growth in retail lending including credit card business during the first half of the fiscal year.

fbb and SBI Card introduce Co-branded Credit Card

fbb, the fashion destination of the Future Group and SBI Card, India's leading Credit Card issuer launched a distinct shopping credit card for the Indian customers. The new STYLEUP Card will provide the best shopping experience to their loyal customers. With an unmatched proposition, the STYLEUP Card will offer a lifetime Flat 10% discount on Fashion Apparel, Fashion Accessories & Footwear at all fbb and Big Bazaar Stores. Moreover, the customers will also get 10X rewards on all Big Bazaar purchases...Read More

HDFC ERGO and Deutsche Bank tie-up for distribution of Non- Life products

HDFC ERGO General Insurance Company, India's 3rd largest general insurance company in the private sector and Deutsche Bank, a leading global universal bank, announced their partnership to distribute non-life insurance products. Cognizant of the rapidly-changing dynamics of Indian Insurance market, HDFC ERGO offers a wide range of non-life insurance products for individuals as well as corporates (including the large companies and small & medium enterprises) that are comprehensive and affordable..... Read More

SBI cuts Retail Term Deposits rates

State Bank of India has reduced Rates Of Retail Deposits. The bank has reduced term Deposits for 1-3 Yrs to 8.5% and 5 years and above to 8.25%. According to TV news channel, VG Kannan, MD, SBI, said that the base rate will be cut in due course. "Liquidity in the system is adequate. Felt its right time to cut deposit rates", he added.

Federal Bank launches Vidya Suraksha in association with Kotak Life Insurance

Federal Bank, one of the leading private sector banks in India has entered into an arrangement with Kotak Life Insurance to launch "Vidya Suraksha," for providing insurance cover to the lives of the students availing education loans. This product will give insurance protection to the extent of loan liability of a student in the unfortunate event of the death of the student. To add convenience to the students, the product is offered as a single premium policy wherein the Premium will be funded by the Bank...Read More

Rollout of cold chains helps to prevent losses of as much as 40% of fresh food produce in India

The report 'A Tank of Cold: Cleantech Leapfrog to a more food secure world' by the Institution of Mechanical Engineers, one of the oldest professional institutions in UK,highlights that lack of proper handling and an inadequate cold and frozen supply chain or 'cold chain' leads to losses of perishable food produce, such as fruit and vegetables, of as much as 50% every year in India...Read More

CDC commits US$30m investment into Indian food and agribusiness sector

CDC, the UK's development finance institution, has announced a new US$30mn commitment to a pioneering investment fund focused on India's food and agribusiness sector. Rabo Equity's India Agri Business Fund 2 will invest in growing businesses across the agribusiness industry, such as agricultural input, food processing, rural retail and cold chain storage and distribution companies...Read More

Indigo outshines other carriers to emerge as India's favourite domestic airline: TripAdvisor's

TripAdvisor announced the results of its fourth edition of India Air Travel Survey 2014, collected from over 2100 respondents. According to the findings, IndiGo Airlines emerged as the clear favourite in the domestic airline category this year as well leaving the closest competitor, Jet Airways, behind by a margin of 8% vs 6% in 2013.

Cox and Kings signs pact with Fonciere des Regions

Cox & Kings owned MEININGER Holding GmbH and Fonciere des Regions, through its subsidiary Fonciere des Murs, announce that they have formed a commercial partnership in respect of the sourcing by MEININGER and acquisition by Foncisre des Regions of hotel property investment opportunities primarily in European gateway cities, to be leased to and managed by MEININGER under the "MEININGER" brand. Primary cities targeted include Amsterdam, Barcelona, Brussels, Berlin, Geneva, Hamburg, Frankfurt, London, Madrid, Milan, Munich, Paris, Rome, Vienna and Zurich. In addition other cities in both Western and Eastern Europe where the MEININGER brand is likely to be popular are also planned for expansion.

State-owned marketing companies reduces ATF prices

State-owned marketing companies has reduced the prices of aviation turbine fuel (ATF) to Rs 59,943 a kilolitre from December 1 - 4.1 per cent, according to reports. Report said that ATF for domestic carriers has become 11.22% cheaper since October. ATF accounts for over 50% of domestic carriers' operating costs. For SpiceJet, Jet Airways and Air India, the price cut would mean a substantial reduction in losses.

Cabinet grants approval for Anti-Hijacking Bill 2014

The Union Cabinet chaired by the Prime Minister, Narendra Modi gave its approval for introduction of the comprehensive Anti-Hijacking Bill 2014. The current law, the Anti-Hijacking Act, 1982, was last amended in 1994. After the hijacking of Indian Airlines Flight IC-814 in December, 1999, it was felt necessary for providing the award of death penalty to perpetrators of the act of hijacking. The incident of 9/11, where aircrafts were used as weapons, also created the need to further amend the existing Act.   The Anti-Hijacking (Amendment) Bill, 2010 was introduced in the Rajya Sabha in August, 2010. During the process of amendment, a global diplomatic Conference was held at Beijing in August-September, 2010. India is a signatory to the Beijing Protocol signed at the Conference.

Jet Airways commences roll out of full service product across domestic network

AI share increases in Joint Venture

Rolls-Royce delivers 1,500th Trent 700 engine

Rolls-Royce celebrated the delivery of its 1,500th Trent 700 engine, with customer AirAsia X. The engine first entered service in 1995 as the first member of the Trent engine family today it has accumulated more than 30 million flying hours and is in service with 66 operators. More than 1,650 Trent 700s are now in service or on firm order, making it the largest Trent engine fleet in service. It is the clear engine of choice on the Airbus A330ceo aircraft that it powers, winning 67 per cent of new orders over the last three years and accounting for a similar percentage of future A330ceo deliveries. Experience from the Trent 700 has also gone into the new Rolls-Royce Trent 7000 engine that powers the Airbus A330neo aircraft. AirAsia X selected 50 of the aircraft earlier this year.

DGCA takes steps to ensure Safety of Aircraft from Bird-hits

Govt unlikely to ban sale of loose cigarettes: Reports

The government is unlikely to ban sale of loose cigarettes in near-term, says media reports. Report stated that Health Ministry proposal to ban sale of loose cigarettes is likely to be put on hold following objections by some MPs, including some Union ministers, and farmers associations against taking drastic regulatory steps. At a meeting called by Union Minister Venkaiah Naidu, Health Minister J P Nadda assured the MPs that he will look into all issues pertaining to tobacco and arecanut growers and industry before taking any policy decision, says report.

Govt eases FDI rules for construction sector

Govt has eased FDI rules for construction sector. Government also removed lock in period for FDI in construction. DIPP said that no minimum land requirement of construction of service plot. Under the new rules, foreign investment is now allowed in projects with a minimum built area of 20,000 square metres, down from a previous 50,000 threshold.

Need to fast track decision making process in infrastructure sector: Nitin Gadkari says

There is a pressing need to fast track decision making process in the infrastructure sector as delay in projects' execution causes financial loss to the tune of about Rs 300-400 crore daily in terms of one day's interest cost, Union Minister, Nitin Gadkari said at an ASSOCHAM event held in New Delhi. "My delay in taking decisions will result in India facing financial losses worth about of Rs 400 crore daily in terms of interest cost per day," said the Road transport highways and shipping Minister while inaugurating 4th International Summit on 'Infrastructure Finance-Building for Growth,' organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). "We have streamlined projects in the road sector worth about Rs 1, 80,000 crore that were stuck up due to land acquisition together with forest, environment and other clearance related issues," said Gadkari. "We have solved about 80 per cent of issues that were involved with the Environment and Forest Ministry."

Indian Railways extends concession in Fare to 50 Categories of Travellers

Gateway Rail appoints Sachin Bhanushali as Chief Executive Officer

Punj Lloyd explores options to sell it's non core assets

The Exchange has sought clarification from Punj Lloyd Ltd with respect to news article appearing in Financial Chronicle on December 01, 2014 titled "PUNJ LLOYD to sell stake in Medanta by end-Dec." Punj Lloyd Ltd clarified "The Company is exploring various options to sell it's non core assets. The Company has not formalised or entered into any binding agreement in this regard, as yet. The Company will be inform the stock exchange(s), if and when, any such agreement is entered into."

Infosys board appoints John Etchemendy as an Independent Director

Infosys Ltd has announced that the Board of Directors of the Company at its meeting held on December 04, 2014, has transacted the following business:

The Board of Directors appointed Prof. John Etchemendy as an Independent Director. The appointment is effective from December 04, 2014. Professor Etchemendy is also a faculty member of the Symbolic Systems Program and a senior researcher at the Center for the Study of Language and Information (CSLI). He has received the Dean's Award for Excellence in Teaching (1988), and the Bing Award for Excellence in Teaching (1992). In addition, he is also the recipient of the Educom Medal for leadership in the application of technology to teaching.Professor Etchemendy received his B.A. and M.A. in Philosophy from the University of Nevada, Reno. He earned his doctorate in Philosophy at Stanford University. He served on the faculty at Princeton University for two years before joining the Department of Philosophy at Stanford as a faculty member. Professor Etchemendy is the author of numerous books and articles on logic, some co-authored with several close collaborators. He has been co-editor of the Journal of Symbolic Logic and is on the editorial board of several other journals.

Internet grows to 280mn Domain Names: VeriSign

VeriSign, Inc, a global leader in domain names and Internet security, today announced four million domain names were added to the Internet in the second quarter of 2014, bringing the total number of registered domain names to 280 million worldwide across all top-level domains (TLDs) as of June 30, 2014, according to the latest Domain Name Industry Brief. The increase of four million domain names globally equates to a growth rate of 1.4 percent over the first quarter of 2014. Worldwide registrations have grown by 18.6 million, or 7.2 percent, year over year. The .com and .net TLDs experienced aggregate growth in the second quarter of 2014, reaching a combined total of approximately 128.9 million domain names in the adjusted zone for .com and .net. This represents a 3.7 percent increase year over year. As of June 30, 2014, the base of registered names in .com equaled 113.7 million names, while .net equaled 15.2 million names. New .com and .net registrations totaled 8.5 million during the second quarter of 2014. In the second quarter of 2013, new .com and .net registrations totaled 8.7 million. During the second quarter of 2014, Verisign's average daily Domain Name System (DNS) query load was 95 billion across all TLDs operated by Verisign, with a peak of 204 billion. Compared to the previous quarter, the daily average increased 11.7 percent and the peak increased 70.4 percent. Year over year, the daily average query load increased 18.8 percent and the peak query load decreased 16.6 percent.

CY 2014 expected to be a positive year for it services market in India: IDC

The India IT services market in 1H 2014 saw a slower growth mainly due to the May Lok Sabha elections. According to International Data Corporation (IDC) the IT services market in India witnessed an year on year growth of 7.4% in 1H CY 2014 over 1H CY 2013, to reach a value of Rs. 2,28,262mn (US$3.76bn) . Overall political and economic uncertainty has had an impact on project-based services in the first half of 2014 with few infrastructure deals being signed. Support services saw a quiet period in terms of growth in 1H CY 2014 with organizations looking at cost cutting measures and holding on their hardware and software refresh. The market saw a growth of 6.9% over 1H CY 2013. Spending on the system integration and IT consulting services also registered a growth of 6% and 6.6% respectively, which was quiet slower than the 2H 2013 owing to decrease in spend on infrastructure projects. Outsourcing services continued to be the fastest growing macromarket seeing a growth of 8.8% in 1H CY 2014 over 1H 2013.Large outsourcing deals are being broken into smaller sizes, as companies prefer to work with more than one vendor. Companies not only manage to get a good pricing advantage, but also access to niche technology vendors.

Govt fixes floor price for SAIL stake sale at Rs 83 per share

Government has fixed floor price for SAIL stake sale at Rs 83 per share, through which it hopes to raise up to Rs.1,700 crore, according to reports. Report stated that the government will give a discount of 5% to retail investors in the offering. The SAIL offering will kick off the Narendra Modi-led government's ambitious disinvestment programme.

Cabinet clears bill on mines auction

The Cabinet has approved a bill on auctioning coal blocks, which will replace the Coal Mines (Special Provisions) Ordinance, 2014, according to reports. Report said that bill is expected to be introduced in parliament. The ordinance and the proposed bill follow through Supreme Court's September 24 order cancelling 204 coal block allotments which were ruled to be illegal.

ASSOCHAM writes to RBI chief seeking concessions for financially stressed steel industry

Apex industry body ASSOCHAM has urged the Reserve Bank of India (RBI) to advise all commercial banks to extend the credit for payment of penalties due to coal blocks' de-allocation by the Supreme Court and payment of upfront bid amounts for participation in the coal block bidding by deserving steel companies to ensure competitiveness of steel produced relative to imports of steel...Read More

Adhunik Metaliks to opt for debt restructuring

Adhunik Metaliks Ltd has announced that due to closure of various iron ore & manganese ore mines and scarcity of coal, which has impacted the Company's and its subsidiary's business, the Board of Directors has decided to opt for debt restructuring and the same has also been decided by the lenders of the Company in its Joint Lenders Forum (JLF) meeting as Corrective Action Plan (CAP). Further the Board has decided that the Company will approach all its lenders through JLF for the same.

NMDC set to open iron mines in Chhattisgarh and Karnataka next year

According to the report, NMDC is planning to open and develop new iron ore mines in Chhattisgarh and Karnataka next year to boost its steel production. The mine to be opened in the Bailadila sector in Chhattisgarh is in the Deposit-11 B Iron Ore Project while the one in Karnataka is part of the Kumaraswami Iron Ore Mines. The company is planning to boost its iron ore output in the next 5 years from about 30 mtpa to 50 mtpa.

Adani Group and SBI defend $1 bn funding plan: Report

According to the report, Adani Group and SBI has defended the state-run bank's intention to lend $1 billion to the conglomerate's $17-billion coal project in Australia. The company said that the venture is viable despite coal prices falling to a five-year low and local protests in a media report. The Adani Group's project in the north Galilee basin is the largest thermal coal project in Australia.

JSW Steel plans Rs 2,000 crore iron ore pipeline

According to the report, JSW Steel is planning to double its capacity in Vijaynagar plant to 20 million tonnes by 2022 says Sajjan Jindal. The company is planning to invest Rs 2,000 crore in a 500-km pipeline to transport iron ore from its private port to the plant.The company will also invest in a 500-km slurry pipeline linking the Vijaynagar plant to JSW's Jaigarh port.

Europe bars imports from antibiotic injectables unit: Ranbaxy Laboratories

Ranbaxy Laboratories Ltd clarified, "The news item is misleading and we wish to clarify as follows in order to place it in the right perspective. The development pertains to only the Company's cephalosporin injectable unit at Dewas in Madhya Pradesh. The European authorities along with those from Australia and Canada carried out an inspection in June 2014 of all the facilities in Dewas. Well before that time, the Company had decided, to stop producing cephalosporin injectables at Dewas. Since then, the agencies have approved all our facilities for manufacturing Dosage Forms and APIs (Active Pharmaceutical Ingredients) at Dewas including that for oral cephalosporins with the only exception of the cephalosporin injectable unit.

FIPB approves Sun Pharma's share issue to overseas Ranbaxy investors

Sun Pharmaceutical Industries Ltd has informed further to BSE that Foreign Investment Promotion Board (FIPB) has, as per the press release dated November 28, 14 released by FIPB unit of Ministry of Finance, Department of Economic Affairs, approved the proposal of the Company for issuing equity shares of the Company to the non-resident investors of Ranbaxy Laboratories Limited pursuant to the merger of Ranbaxy Laboratories Limited into Sun Pharmaceutical Industries Limited through the scheme of arrangement between Ranbaxy Laboratories Limited and Sun Pharmaceutical Industries Limited.

CCI suggests changes in Sun Pharma-Ranbaxy deal: Reports

CCI has suggested Sun Pharma and Ranbaxy to make changes in proposed $4 billion merger deal, according to reports. Report said that this includes possible divestment of some brands. The deal has been awaiting clearance from the competition watchdog. Sun Pharma-Ranbaxy transaction, had come under close scrutiny of CCI after it was found prima-facie that the "combination is likely to have an appreciable adverse effect on competition", says report. On April 6, Sun Pharma announced it would buy Ranbaxy in a $4-billion all-share deal.

Pfizer completes merger with Wyeth

Pfizer Limited announced the completion of the merger with Wyeth Limited. The company had received approvals from the Bombay High Court earlier and filed the order with the Registrar of Companies to conclude the merger process. The merger places Pfizer Limited among the top 10 pharmaceutical companies in India by market share. Pfizer Inc.,USA, through its subsidiaries holds the majority stake in both companies and will continue to remain the majority shareholder with an approximate 63.9% holding in Pfizer Limited, post-merger. Pfizer Ltd now has a significantly stronger portfolio of offerings across a wider therapeutic universe. Importantly, the company now debuts its offering in Vaccines with India's largest vaccine brand and builds a robust presence in the areas of Women's Health with a portfolio that includes some of the best known brands in Oral Contraception and Folic Acid supplements.

Dishman Pharma may sell entire SEZ land

Dishman Pharmaceuticals and Chemicals Ltd clarified, "We would like to clarify that Dishman Pharmaceuticals and Chemicals Limited (DPCL) had acquired on a long term lease basis Land located at the Pharma and Finechem SEZ being developed by Dishman Infrastructure Limited (DIL), a company promoted by the promoters of DPCL. However, owing to withdrawal of the benefits granted earlier to SEZ developers/units located therein by the Government, the said company DIL has suspended the work on the SEZ development since last around two years and is looking at various options including de-bonding the SEZ and selling off the entire SEZ land. If this happens, DPCL's lease will also be cancelled and DPCL will get back the money invested in the Land leased to it in the said SEZ.

Suven Life Sciences Limited Raises Rs. 200 Cr through a QIP

Suven Life Sciences Limited has concluded its Rs 200 Cr fund raising exercise through the Qualified Institutions Placement (QIP) process. Anand Rathi Advisors Limited acted as the Sole Global Co-ordinator and Book Running Lead Manager for this QIP. The transaction saw participation by some highly reputed investors in India. The Company accordingly will issue 1,04,53,690 equity shares of face value of INR 1/- per equity share at a price of Rs. 191.32 including a premium of INR 190.32 per share. Post issue the promoters holding will be in excess of 59% as against 64.76% on September 30, 2014. The response to this QIP issue is a testimony to Suven's growth oriented financial performance and confidence of the investors in Suven's unique business model in CRAMS and NCE development.

Sahara sells Gurgaon land worth Rs 1,211 cr to M3M

Sahara has sold land parcel worth Rs 1,211 crore to Gurgaon-based developer M3M India Ltd, says report. Report stated that the 185-acre land in Gurgaon, would be used for mix-use development. M3M India Director Pankaj Bansal stated that the entire amount will be paid in instalments over a period of six months. The deal comes within days of Supreme Court permitting the Sahara Group to proceed with the sale of four domestic properties.

HDIL clarifies reports on irregularities in Bandra slum rehabilitation project

The Exchange had sought clarification from Housing Development and Infrastructure Ltd with respect to news appearing on Zee News website on December 03, 2014 titled "SRA project irregularities: FIR against govt, HDIL officials." Housing Development and Infrastructure Ltd replied stating "This is regarding newspaper articles published today in respect to F.I.R. having been filed against Government Officials, SRA Officials, the Company and its Directors in the Project approved under SRA Scheme in Motilal Nehru Nagar, Bandra (East) in the year 2005-06. The eligibility under the Scheme is decided by the concerned Statutory Authority and the Company has no role to play. This is a frivolous attempt to malign the reputation of the Company and its Directors and as such Company will take appropriate legal action including quashing of the FIR."

RCOM, Lodha Group Dollar bonds called off

Reliance Communications and Lodha Group Dollar bonds were called off after fund raising plans failed to generate response among US-based investors, according to reports. Report said that this move came due to poor market conditions and pricing issues. Lodha was planning to raise $350 mn and Reliance Communication was to raise $225 million from their debut US dollar bonds, reports added. RCom had launched its 5 year bonds on Monday with an initial price guidance in the 6.5% area. A day later, Lodha offered 5 year bonds at a mid-high 10% initial guidance. Lodha Developers had appointed Bank of America Merrill Lynch and JP Morgan as bankers for the bonds.

RCOM, Lodha Group Dollar bonds called off

Reliance Communications and Lodha Group Dollar bonds were called off after fund raising plans failed to generate response among US-based investors, according to reports. Report said that this move came due to poor market conditions and pricing issues. Lodha was planning to raise $350 mn and Reliance Communication was to raise $225 million from their debut US dollar bonds, reports added. RCom had launched its 5 year bonds on Monday with an initial price guidance in the 6.5% area. A day later, Lodha offered 5 year bonds at a mid-high 10% initial guidance.

Govt plans to conduct 3G spectrum auction

The government is planning to conduct 3G spectrum auction along with 2G radiowaves sale in February, says report. Report said that DoT requested Trai to expedite the process for its recommendations on the reserve price of 2100 Mhz band. The regulator said that the Department of Telecom is in talks with the Defence Ministry for the vacation of the band and there are three possible scenarios under deliberation.

Revenue, not financing, limits infrastructure investment: Fitch

Identifying and allocating revenue for repayment of project debt is the biggest obstacle to the renewal of ageing infrastructure in many developed economies, Fitch Ratings says. This problem is compounded by the fact that most of these markets' most urgent projects are upgrades to existing infrastructure, where higher costs for users or taxpayers may be politically harder to justify than for high-profile new projects. Commentators often blame under-investment in infrastructure on a lack of available financing, but we do not believe this is the case in either the public or private sectors. Some of the countries with the biggest shortfall in infrastructure spending, such as the US and UK, are also those with the deepest capital markets. There are also many well established financing methods, including tax-exempt bonds from the public sector, covenanted bonds issued by regulated utilities and subsidised loans from development banks, which together enable borrowers to raise large amounts of cost-efficient capital. Instead, the ability to secure a revenue stream from either users or taxpayers is generally the limiting factor. The problem requires an often-difficult political decision on who should pay for facilities that only a fraction of the population will use and that will also be used by future generations. This is made even trickier for Western economies that need to upgrade existing infrastructure. It is politically difficult to make people pay through either fees or taxes for a service that is not new and just aims to maintain what already exists...Read More

ADB aims to speed flow of low-carbon technologies to Asia

A new service set up by the Asian Development Bank (ADB) aims to match buyers and sellers of low-carbon technologies to speed technology transfer to developing Asia. "Asia is the tip of the spear as far as climate change impacts are concerned. We need to ensure a swifter flow of tested and up-and-coming low-carbon technologies to the region so that it can mitigate and adapt to the changing climate," said Bindu N. Lohani, ADB Vice-President for Knowledge Management and Sustainable Development. The first-of-its-kind technology exchange was launched on the sidelines of the United Nations Framework Convention on Climate Change (COP20) meeting here. The pilot service will initially focus on clean energy and energy efficiency technologies with the average transaction size expected to be $2 million-$5 million. Called IPEx Cleantech Asia, the exchange will broker technology transfers from developed countries to developing Asia and between developing Asian nations, as well as provide a platform for knowledge sharing. The service will be run by a Singapore-based joint venture comprising DNVGL's Clean Technology Center in Singapore, part of Norway-headquartered, global advisory firm DNVGL AS, and ReEx Capital Asia, a Singapore clean energy investment banking and consulting firm...Read More

Global health problems span a wide spectrum: IMF

The December issue of the IMF's Finance and Development magazine looks at the serious health issues the world faces today, including infectious diseases such as Ebola fever and no communicable diseases such as cancer and mental health disorders. But any look at global health must include more than diseases. The latest issue of F&D magazine examines a panoply of global health concerns--among them the growing importance of regional and local governments in health care delivery, the need for more efficient delivery of health services and for better functioning health systems, and the increasing number of organizations involved in the provision or health services--an area once almost solely the province of the World Health Organization (WHO).

Competition and capacity growth pressure Chinese and Southeast Asian airlines: Moody's

Moody's Investors Service says that intense competition and capacity growth will continue to pressure the margins of Chinese and Southeast Asian airlines in 2015. Consequently, Southeast Asian carriers will focus on cutting their costs and some could see further restructurings.

"Asian aviation industry margins will remain weak over the next 12 months, as airlines compete to maintain market share amid strong growth in capacity," says Dylan Yeo, a Moody's Analyst.

"As such, cost management will be the focus of both full-service carriers and low-cost carriers in Southeast Asia over the next 12 months, as the industry seeks to stem the decline in profitability," adds Yeo.

Yeo was speaking on the release of a new Moody's report on Chinese and Southeast Asian Airlines, entitled "Focus Shifts from Expansion to Cost Discipline Amid Intense Competition".

According to the Moody's report, Southeast Asian full-service carriers are grappling with stiff competition from low-cost carriers on short-haul routes, while Chinese airlines face margin erosion due to a weaker domestic economy and competition from the country's rapidly expanding high-speed rail network. While competition will continue to hurt EBITDA margins in the Southeast Asian market, Moody's expects the decline in profitability to stabilize, as airlines taper capacity growth...Read More

Hedging with volatility is not just for stocks

The CBOE Volatility Index, or what many investors have come to know as VIX, is the index many follow as a volatility indicator for the stock market. The benefit besides printing the "implied" or expected volatility for prices over the next 30 days, giving a range of expected prices 30 days from now, is that it has acted as a portfolio hedge.

Luckily for commodity investors, especially those in oil right now (and gold last year), there are volatility indices that may hedge losses like the VIX has done for the S&P 500. Notice the in the chart below, the opposite movements with correlation of -0.58 of the S&P GSCI Crude Oil versus the OVX, CBOE Crude Oil Volatility Index...Read More

The Dollar and Returns

The US dollar has strengthened against most other currencies in recent months. Over the last year the dollar is up 5% against the British pound, 7% versus the Canadian dollar, 8% over the Australian dollar, 9% ahead of the euro and 16% against the yen. Movements this big shouldn't be ignored - foreign investors with funds tracking the S&P 500 are doing much better than their domestic American counter parts while Americans in funds tracking some foreign indices are losing ground because of the dollar's renewed strength. Further, if it seems some analysts following oil in other countries aren't as excited as analysts in the US, the answer also is the dollar: Brent crude prices are down about 36% for dollar-based purchasers but only 24% for those based in yen. The first chart compares the performance in the last 12 months of an investment tracking the S&P 500 for investors in various currencies. Tracking the S&P 500 in any of the other currencies than the dollar came out ahead...Read More

Jaguar Land Rover settles dispute with worker union; agrees on revised pay offer

Looks like there is much to cheer about for the Tata Motors owned Jaguar Land Rover workers, as the management of JLR has accepted the worker Union's demand for a better remuneration. Unite, the union representing the staff at JLR has communicated that the management has accepted their revised offer to pay a total of 12.4% over two years and withdrawn plans to scrap its final salary pension scheme. Read More...

Kia Soul EV triumphs at Canadian Car of the Year Awards

The all-new 2015 Kia Soul EV has been announced as the winner of the 'Best New City Car' award by the Automobile Journalists Association of Canada (AJAC). Kia Canada was presented with the award as part of the Canadian Car of the Year Awards program. Read More...

Jaguar likely to recall 2,877 models of the Jaguar XJ brand in China

As a safety measure, it is likely that Jaguar will recall 2,877 models of the Jaguar XJ brand in China due to a brake problem. General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), which is an industry watchdog has issued a statement asking Tata Motors owned Jaguar to recall these vehicles. Read More...

Jaguar Land Rover extends Castrol's global lubricant contract

Castrol has announced the renewal of their global aftersales lubricant contract with Jaguar Land Rover, extending the long established relationship. Castrol and Jaguar Land Rover have worked in close co-operation for over 20 years, 11 of which as technology partners. This new agreement will bring Jaguar Land Rover and Castrol closer together in areas such as pioneering technology, dedicated lubricant supply, aftermarket support and joint brand activation. Read More...

Belgium supports FAO emergency response capacity with EUR5.8 million

Belgium has donated EUR5.8 million to support FAO activities that help protect agriculture-based livelihoods for food security and resilience in the face of natural disasters and human-induced crises. The donation to FAO's Special Fund for Emergency and Rehabilitation Activities (SFERA) enables FAO to rapidly acquire agricultural inputs -like quality seeds, fertilizer and tools-- and quickly launch field activities to protect agriculture livelihoods, reboot agricultural production, and safeguard food security...Read More

Qatar Airways honours Journalist of the Year Award

Qatar Airways once again supported the UK-based Foreign Press Association's prestigious annual awards function, in which the airline sponsored the main award of the night - Journalist of the Year. UK and international journalists were awarded across multiple categories at the event which took place at The Park Lane Hotel in central London and was compered by Hugh Dennis, English comedian, actor and writer.Besides his regular television work, Hugh Dennis is a panellist on Mock the Week and has appeared in every episode since its inception. He is a regular guest on various BBC-broadcast comedy panel game shows such as They Think It's All Over, Would I Lie To You?, QI and has guest hosted Have I Got News for You.

SAP Simplifies Cloud Adoption With New SAP Best Practices Packages for SuccessFactors HCMSuite

SAP SE announced new SAP Best Practices packages that simplify deployments of SuccessFactors HCM(R) Suite to further its commitment to simplifying customer journeys into the cloud. Customers can now accelerate their cloud projects as they take advantage of pre-conceived business scenarios. SAP Best Practices are based on pre-configured content for cloud solutions from SAP, such as solutions from SAP companies SuccessFactors and Ariba or the SAP Cloud for Customer solution. They complement other SAP Best Practices for on-premise solutions both being incorporated into SAP's new learning format, the openSAP platform, and packaged into SAP Rapid Deployment solutions, which simplify the customer experience of deploying new enterprise solutions and onboarding to the cloud with dramatically accelerated time to value at a reduced cost.

Microsoft buys Accompli

Microsoft has reportedly said that it was acquiring the mobile email management application Accompli. The deal may be valued at worth more than $200 mn, says report. The deal gives Microsoft a startup helping people more easily manage their mail on handsets using Google Android. Accompli's Javier Soltero satted on his blog that the app "will become part of Microsoft's ambitious effort to reimagine productivity for the mobile era."

For subscription/ adding names to weekly newsletter mailing list, Click here

Website : http://www.indiainfoline.com

IIFL Centre, 2nd Floor,
Kamala City, Senapati Bapat Marg,
Lower Parel (W), Mumbai - 400 013

E-mail: editor@indiainfoline.com

 India's most popular website for business and investing.
Copyright 2014, India Infoline Ltd
India Infoline takes no legal responsibility for accuracy or completeness of information or advice given.
This material is for personal use only.

Advertise with India Infoline



5 Weekly positional calls

After rallying for six consecutive weeks, the Indian equity market seems to be taking a breather as indices enter into a consolidation phase. The RBI policy meet turned out to be a non-event as the central bank stuck to its decision of holding back any interest rate cut which was in-line with market expectations. The Nifty did manage to hit fresh life-time high late in the week, however it was short lived as traders and investors preferred to take some money off the table.

Meanwhile, India November HSBC manufacturing PMI stood at 53.3 as compared to 51.6 in October. India’s services sector showed robust expansion in November with HSBC India Services PMI rising to 52.6 in November from 50 in October. Sector wise, FMCG index shot up by 5.5%, Small-Cap index surged by 3.8%, Realty index gained by 2%, Auto index gained 0.9%, PSU Bank index edged higher by 0.82%. On the other hand, IT index slipped by 2.4%, Infra index edged lower by 0.7%, Metal index marginally slipped by 0.2% and Pharma index was flat.

In the coming week, focus will shift to global cues and important economic data which is scheduled to be released next week. Among the vital macro data are the November CPI and the October IIP data. In addition November import & export data will also be closely watched.

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

India Infoline Research

Leader Speak

Dermot Clohessy, Executive Director and COO, IDA Ireland
"Manufacturing is an integral part of Ireland's foreign direct investment landscape with a range of companies across a variety of sectors housing their FDI high-value manufacturing activities here."...More

P Sahel, Vice Chairman, Lotus Greens Developers Pvt. Ltd
"The real estate industry is waiting to welcome the roll out of more friendly policies and reforms so as to attract a lot of greenfield investments and new projects."...More

Amarinder Singh, Founder & CEO, Clove Dental
"We have raised over Rs100 crore from international investors and will likely raise additional capital late next year or in early 2016."...More

Deepak Jalan, Managing Director, Linc Pen & Plastics Ltd
"We are aiming at double digit growth, while the industry growth rate is just about 5%."...More

Vineet Nayyar, Executive Vice Chairman, Tech Mahindra
"The transaction is expected to close by Q4 of Tech Mahindra's 2015 Fiscal Year. The deal will be funded through internal accruals."...More

Uday S. Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank
"The opportunities and synergies that this merger will create will place Kotak and its incoming stakeholders from ING Vysya on a new trajectory of excellence and leadership."...More

Pranav Ansal, Vice-Chairman, Ansal Properties & Infrastructure Ltd
"The FDI policy can be looked at as a better policy than before and will help all segments and companies in the industry."...More

Mr. Viren Sinha, Chairman and Managing Director Balmer Lawrie & Co. Ltd
Replying to Anil Mascarenhas of IIFL, Viren Sinha says, "The logistics business is the bottomline driver for the company and in the next 2-3 years we would be making investments of around Rs 350 crore in this business."...More

Partha DeSarkar, Chief Executive Officer, Hinduja Global Solutions Ltd
"We have also seen growth in healthcare business and continue to be bullish on the healthcare sector."...More

Hari Prakash Pandey, VP-Finance, Housing Development & Infrastructure Limited
"There was pick up in sales with gradual recovery. We have seen sales going up well at Bhandup, Vasai, Virar and also getting more enquiries."...More

Arundhati Bhattacharya, Chairperson, State Bank of India
"We are working aggressively on the recovery process. SBI is doing a number of things on the risk side. One of the main things is the dynamic rating of corporates."

M S Unnikrishnan, Managing Director & CEO, Thermax Ltd
"Though one has to wait for project business revival in the domestic market, there is going to be momentum in the standard products area. There is also action afoot in South East Asia and Africa."

Varun Berry, Managing Director, Britannia Industries
"We will continue to innovate and launch delightful health products to help more people adopt a healthy life and enable them to get more out of their lives every day."

Sunil Bhatia, CEO & MD, Blue Star Infotech
"We have streamlined our internal operations by reducing operational costs, which in turn has effectively improved the revenue structure."

Nishchal Zaveri, Managing Director, Tribhovandas Bhimji Zaveri Entertainment (P) Ltd
"TBZ has been linked to jewelers for over a century. TBZ stands for quality, trust and values. Keeping up with that spirit, I have launched TBZ Entertainment."

PD Mundhra, Co-founder and Executive Director, eClerx Services Limited
"The operating profit margin for the quarter was 30%.We expect near term outlook to be near 30%."

Rajoo Bbarot, Promoter, Chairman & Managing Director, Atlanta Limited
"We are eyeing Rs. 500 crore revenue for FY2015."

Jayant Mehrotra, Chief Financial Officer, ING Vysya Bank
"We added 20 branches in the last two quarters and would continue to maintain the same momentum in the forthcoming quarters."...More

Sivasubramanian Natarajan, MD, ThyssenKrupp Industries India Pvt. Ltd
"With a variety of innovative products and solutions, we are certainly in race for large project business in the various industries such as cement, power and bulk material handling etc. "...More

Sudhakar Ram, Managing Director & Group CEO, Mastek Ltd
"The second half is expected to be better as the business momentum remains intact in the UK and North America. "...More

Sandeep Singal, Head - Branded Retail & Strategic Distribution, Tata Teleservices Ltd
"The biggest trend is data tsunami that is happening, as in the last one year, data usage in the industry has almost grown by 85%."...More

Romesh Sobti, Managing Director, Indusind Bank
"The bank will surpass the target of 750 branches and will close the year with 800 branches for March 2015."...More

Krishnakumar Natarajan, Managing Director and CEO, Mindtree
"The company is expected to surpass Nasscom's forecast of 13-15% revenue growth for the software services sector."...More

Sunjay Kapur, Managing Director, Sona Koyo Steering Systems Ltd
"We expect FY2015 to be the turnaround year for the Indian economy and auto sector in particular given the extension of excise duty cut till Dec 2014."...More

Pawan Chaudhary, CMD, Venus Remedies
Replying to Yash Ved of IIFL, Pawan Chaudhary says "We are expecting our EBIDTA margin to grow at a rate of 22% in FY15."...More

Equities are a great compounding machine; India has great growth prospects: Prashant Jain
Replying to Anil Mascarenhas of IIFL, Prashant Jain says, "A popular observation about the markets is that the markets have run up nearly 40% in last one year! A more pertinent observation is that the markets are up only around 30% from the pre Lehman levels over the last 6 years!"...More

Sunam Sarkar, President and CFO, Apollo Tyres Ltd
"We are looking at investing close to Euro 475 million over the next 5 years to setup this greenfield facility in the new industrial zone near Gyongyoshalasz, Hungary."...More

Sethunath Padmanabhan, Managing Director, Diadeis Alia
"With a strong presence in Europe & Asia, focus is more in the North American & South American market for acquisition. Technology investment is going to get doubled in the next 3 month - Hardware, procuring critical software and developing proprietary software is all in plans."...More

Shujaul Rehman, President and COO, Garware Wall Ropes Ltd.
"The government's policy of inclusive growth, focus on manufacturing, agriculture and infrastructure sector, we expect to see a major uptick in our business across segments."...More

Mark Zucherman, Sr. Product Manager, Zebra Technologies
"India is emerging as one of fastest growing markets for smart cards, with a market valuation projected to reach $1 billion by 2015."...More

Sandeep Batra, Executive Director, ICICI Prudential Life Insurance Company Limited
"Claims settlement is the moment of truth and the ultimate service differentiator for a life insurance company. For FY14 our claims settlement ratio stood at 94.1% and majority of our claims have been settled within 30-days of intimation."...More 

Vinay Gupta, Founder and Chief Executive Officer, TripFactory
"We are currently in the process of growing our relationship with existing airlines in India and growing the ancillary revenues for them.We will be investing on technology tools over the next few years."...More

Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd
"We will be investing Rs.500 crores in the next 4 financial years for building up Amusement parks at Hyderabad and Chennai."...More

Jay Jain, Director and Co-founder, M-AdCall
We will be seeking a funding of US$5 million in the months ahead. As of now we are internally funded and growing well on all key metrics...More

Digvijay Dhabriya, Managing Director, Dhabriya Polywood Ltd
"We are looking at fund raising through an IPO. Company will come up with an SME issue for which we have already filed the DRHP."...More

Shantanu Das Gupta, VP - Corporate Affairs & Strategy, Asia South, Whirlpool of India
"We are planning to invest Rs150 crore for the current fiscal year" says Shantanu Das Gupta...More

Rajesh Aggarwal, Managing Director, Insecticides (India) Limited
Replying to Yash Ved of IIFL, Rajesh Aggarwal says For FY15, We expect to grow 35% on the topline and touch Rs 1200 crore. We also expect to grow Rs 70-75 crore on the bottomline...More

B Thiagarajan, Executive Director & President - AC&R Products Business, Blue Star
Replying to Yash Ved of IIFL, B THIAGARAJAN says Blue Stars market share in room ACs is in the range of 8-8.5%. We plan to increase it to 9% by the FY15 and 10% by FY16...More

Harkirat Singh, Managing Director, Woodland India
Replying to Yash Ved of IIFL, Harkirat Singh says We plan to add around 60-70 company owned stores to touch 550 stores by the end of this fiscal year one out of every four new store will be in tier II & III towns...More

Rohit Poddar, Managing Director, Poddar Developers
Replying to Yash Ved of IIFL, Rohit Poddar says We are launching additional projects in Kalyan, Vasai, Goregaon and Vidyavihar, comprising of approximately 5,000 apartments."...More

Mario Draghi, President, European Central Bank
The data that we got in August, both hard and soft, on GDP and inflation, showed that growth recovery was losing momentum. So we decided to strengthen the measures decided in June...More

Ramprakash V. Bubna, Chairman and Managing Director, Sharda Cropchem Ltd
Yash Ved of IIFL provides you the highlights of a media interaction, where Ramprakash V. Bubna says We are planning to raise around Rs352 crore via IPO...More

J Suresh, MD and CEO, Arvind Lifestyle Brands Ltd
Yash Ved of IIFL provides you the highlights of a media interaction, where J Suresh says Arvinds revenue target from the brand will be Rs 1,000 crore in 5 years...More

Sunil Ratnakar Gutte, Joint Managing Director, Sunil Hitech Engineers
Not being an industry behemoth with order books of several thousand crores comes as an advantage to us and makes us neutral to recession in several sectors like infra, building construction and power...More

Anjani Kumar Gupta, Director, Saraiwwalaa Agrr Refineries
Yash Ved of IIFL provides you the highlights of a media interaction, where Anjani Kumar says We are targeting Rs 3,000 crore turnover over the next three years from Rs 2,000 crore in FY14...More

Ashok Goel, Vice Chairman & MD, Essel Propack
Replying to Yash Ved of IIFL, Ashok Goel says "We are eyeing US$500 mn Company by 2015-16 with 50% of our revenues coming from non-oral care."...More

Gurpreet Singh, COO-OneDigital Entertainment Pvt. Ltd
Replying to Anil Mascarenhas of IIFL, Gurpreet Singh says, We are the distributor of content that we either aggregate or creator and manage the ecosystem to get the most visibility and revenue for our content creators...More 

Gopinath Pillai, Chairman, Snowman Logistics Limited
"We are planning to raise Rs197 crore via IPO.The objects of the issue is to set up new temperature controlled and ambient warehouses."...More

Editors' Roundtable with Sir Martin Sorrell
Sir Martin Sorrell was in Mumbai to launch BrandZ Top 50 Most Valuable Indian Brands report, which WPP published with consultancy Millward Brown...More

Dr. Sudarshan Ballal, Medical Director & Chairman Medical Advisory Board, Manipal Health Enterprises
"In three years, Manipal Hospital will become a company worth Rs 2,000 crore from the present Rs 800 crore...More

Rajiv Bajaj, Managing Director, Bajaj Auto Ltd
Yash Ved of IIFL provides you the highlights of a media interaction where Rajiv Bajaj says, "We are focusing on retaining value while offering style and performance. Our job is to create new categories."...More

Tanveer Shaikh, Principal Consultant, Acumen Business Consulting
Replying to Yash Ved of IIFL, Tanveer Shaikh says "Our Strategy Practice aims to enhance and realign business strategies and create viable 'road maps' for success."...More

Donald J. Trump, Chairman and President, The Trump Organization
Yash Ved of IIFL provides you the highlights of a media interaction, where Donald J. Trump says "We are looking at investing in real estate and hospitality projects in India."...More

RB Kabra, President, HSIL Ltd
Replying to Anil Mascarenhas of IIFL, RB Kabra says, "Entry of multinationals and increased international travel has revolutionized the sanitary ware market. There has been change in customers’ attitude and now they are willing to spend on bathroom products."...More

V Gokul Das, Managing Director, HRS Process Systems Ltd
Replying to Anil Mascarenhas of IIFL, Gokul Das says, "Optimum use of resources with minimal impact on environment has always been our aim. HRS is a ‘One-Stop-Solution’ provider for all heat exchange solutions for the process industry."...More

VS Parthasarathy, CFO, Mahindra and Mahindra Ltd
Yash Ved of IIFL provides you the highlights of a conference call, where V S Parthasarathy says "We have performed well in this challenging environment. The industry growth has been flat."...More

Amit Ladsaria, Director, Turtle Limited
Replying to Yash Ved of IIFL, Amit Ladsaria says "For 2014-15, We are targeting revenues of over Rs. 200 mn."...More

MP Taparia, Managing Director, Supreme Industries
Speaking with Yash Ved of IIFL, MP Taparia says "The Company envisages an average overall revenue growth of about 15% to 20 % p.a in over a period of next three years ."...More

Ravi Sud, Sr. Vice President and CFO, Hero MotoCorp Ltd
Yash Ved of IIFL provides you the highlights of a conference call, where Ravi Sud says "There was an Rs 70 crore impact due to revision of depreciation rates."...More

Vinod Kumar, Managing Director and CEO, Tata Communications
Yash Ved of IIFL provides you the highlights of a conference call, where Vinod Kumar says "The Company plans to invest more than US $200 mn towards doubling data centre capacity in India from 500,000 sq. ft. to 1,000,000 sq. ft. over a period of three years."...More

Vishnu R. Dusad, Founder, CEO and MD, Nucleus Software Exports Limited
Speaking with Yash Ved of IIFL, Vishnu R. Dusad says "The company announced that its continued focus on strategic investments in R&D and product innovation will remain to be one of its top priorities in the coming quarters."...More

Hari Prakash Pandey, VP-Finance, Housing Development & Infrastructure Ltd
Yash Ved of IIFL provides you the highlights of a conference call, where Hari Prakash Pandey says "The Metropolis and Residency Park Phase II are in near completion stage with possession due in 3rd and 4th Quarter this year."...More

Ranjit Singh, Managing Director, Kalpataru Power Transmission
Yash Ved of IIFL provides you the highlights of a conference call, where Ranjit Singh says "We expect topline growth of 15% and margin of 10% for FY15."...More

Sunil Bhatia, CEO & MD, Blue Star Infotech
Replying to Yash Ved of IIFL, Sunil Bhatia says "We have a strong sales pipeline in the coming quarters and we are confident reaching Rs. 300 crore mark this financial year."...More

Gopal Mahadevan, Chief Financial Officer, Ashok Leyland
Yash Ved of IIFL provides you the highlights of a conference call, where Gopal Mahadevan says "The company expects the economy to recover in the second half of this financial year."...More

Virendra D. Mhaiskar, CMD, IRB Infrastructure Ltd
Yash Ved of IIFL provides you the highlights of a conference call, where Virendra D. Mhaiskar says "IRB’s Order book stands at approximately Rs. 11,350 crores out of which Rs. 9,400 crores worth of order book is to be executed in the next three to four years. "...More

Anita Arjundas, Managing Director & CEO, Mahindra Lifespaces Developers
Yash Ved of IIFL provides you the highlights of a conference call, where Anita Arjundas says "We are planning to launch Alibaug project in September and Gurgoan project in October 2014."...More

Major (Retired) Madhukar Katragadda, Director, KDJ HolidayScapes & Resorts Ltd
Replying to Anil Mascarenhas and Yash Ved of IIFL, Madhukar Katragadda says "We plan to spend Rs. 150 crore in next five year on building and acquiring new resorts. This all will be funded through Debt and internal accruals."...More

Sunil Agrawal, Chairman & Managing Director, Vaibhav Global
Yash Ved of IIFL provides you the highlights of a conference call, where Sunil Agrawal says "We expect to pay down our outstanding debt and emerge as a debt free company by the end of FY15."...More

Abhishek Somany, Joint Managing Director, Somany Ceramics
Replying to Yash Ved of IIFL, Abhishek Somany says "We are targeting 20% plus growth in FY15 as there is high growth potential in the ceramic tile industry."...More

Read More Leader Speak...

Industry Newsletters

Automobile Newsletter - November 24 to 28, 2014

Aviation Newsletter - November 24 to 28, 2014

Banking Newsletter - November 24 to 28, 2014

Economy Round Up - November 17 to 21, 2014

FMCG Newsletter - November 24 to 28, 2014

Hotels and Tourism Newsletter - November 24 to 28, 2014

Insurance Newsletter - November 24 to 28, 2014

Infrastructure Newsletter - November 24 to 28, 2014

IT Newsletter - November 24 to 28, 2014

Mutual Funds Newsletter - November 24 to 28, 2014

Metal and Mining Newsletter - November 24 to 28, 2014

Oil and Gas Newsletter - November 24 to 28, 2014

Pharmaceutical Newsletter - November 24 to 28, 2014

Power Newsletter - November 24 to 28, 2014

Retail Newsletter - November 24 to 28, 2014

Telecom Newsletter - November 24 to 28, 2014


How to raise money for business?
The future expenses that will incur before the break-even point had to be included in the initial investment...More

Five pitfalls to avoid as an entrepreneur
The idea of starting your own business seems easy and attractive but comes with its fair share of obstacles...More

Personal loan? Not always bad!
We Indians hate personal loans. Before you demoniseit with a set of Dracula teeth and evil horns, think again. It is not always a bad option. They come with some benefits too. To help you make an informed decision, we decided to highlight the positives about personal loan before you dismiss it as an option when you are in need of funds...More

How RD can help you to achieve your financial goals?
A recurring deposit account is a facility offered by banks that allow depositor to invest a fixed monthly amount every month for a set period of time. This type of investment is appropriate for those who have a low risk appetite.

How to buy cheap flight tickets?
For those who want to hunt cheap air fares, here are some ways to do so.

Five reasons why you should not lend money to friends
Both lender and borrower do not know when the loan will be repaid. In most cases, the borrower could become irresponsible with the money payment, which could shake your trust on your friend.

Don't let debt kill you...Approach a credit counseling centre
A credit counseling centre offers services on ways to tackle multiple debts. It also helps in better financial planning

Things you should know before guaranteeing a loan: CIBIL
CIBIL report will show the month-on-month payment behavior of the principal borrower towards this loan.

Factors to take into consideration while deciding a corpus for retirement
Many individuals face difficulty in assessing the right retirement corpus that they will need in their sunset years. Here are the three simple steps to figure out your nest egg.

What are liquid funds and how to use them?
For those, who are looking forward to earn a higher interest rate and do not want to compromise with the liquidity aspect could choose to invest in a liquid fund.

What to buy today on Dhanteras?
At the onset of Dhanteras, here are the few ideas that could ensure that you are inviting your share of luck this day...More

Five things to look out in Zero Finance Schemes
These schemes are floated by some non-banking finance companies (NBFCs) that state to fund a purchase at zero interest rate...More

Five ways to benefit from your Credit Card
Here are the five ways to manage the credit card in a best way to get the maximum advantage...More

How to keep a tab on credit card spending as festive season approaches

However, it is easy to overspend and one should keep this under check to ensure that there will not be any regret on the lack of money at the beginning of next month, or even for the next few months...More

How to use auto sweep option to get more returns?
Hence, there are times when individuals miss on earning higher returns on their cash, which otherwise gets a scanty interest income at the rate of 4%...More

Ten things you should know by the time you turn 25
Any investment will make sense only if it can generate returns over an above inflation rate...More

Skillful Investor or Lucky Dumb
Mainly defensive investing and avoiding mistakes are two strategies for investors to make sure that their luck does not fail them in investing...More

Three ways of Passive Investing
A passive investor should never indulge in comparing one stock with others in terms of its price...More

Five financial fears to conquer
It's a common fear among individuals, who are feared of an unprecendented event to occur that will ruin their financial stability...More

It's raining offers: Keep track of finances before you splurge
While you maybe excited to buy your favourite products at reasonable or discounted rates, this festive season, avoid overspending...More

Five ways of minimizing risk by investors
Therefore, it becomes an owner's responsibility to reduce the risk in order to be attractive to the lenders...More

10 basic principles of Personal Finance
Every individual has a unique set of financial goals and challenges, which needs customized personal financial planning. But here are the ten principles of personal finance that would apply in every individual's life...More

A mistake-free home loan commitment
There are mistakes loan seekers often make during this process, which can create problems, disappointments, and frustrations for them later on...More

Five tips that will simplify financial decisions
Those concerns discourage most of the individuals to engage into a systematic financial routine, which further jeopardize the financial life of any person...More

How SIPs can be best investment route for investors?
Most of the times investors do not know how to best exploit the present market opportunities and at other times they might find it difficult to stick to their financial plans and resultantly skip their investing routine...More

Five money lessons which you should teach your kids
Survey reports suggest that children start grasping financial skills at an early age of 3, while their financial persona is moulded by the time they reach age 7. So, here are the five ways in which you could sculpt the financial view of your child at an early age...More

Why Personal Loan against Fixed Deposits makes sense?
Drawing loan against fixed deposits is cheaper than taking a fresh personal loan as the rate applicable will be just 1% more than the interest payable on the fixed deposit, versus the 16% to 24% cost of other personal loans...More

The case for balanced funds
This lack of confidence could arise of out their bleak understanding of equity as an asset class...More

Have you missed paying credit card bill?
You face two situations when you miss out on a payment on your credit card bill. First you attract a lumpsum fee due to failure to pay even minimum payment which is due...More

Five reasons why a women should be financially independent
Indian women tend to give priority to domestic needs over financial independence, which could be a source of demotivation and financial helplessness for them during most of the critical times...More

Things to look before buying a Health Insurance
Before buying a health plan, the present as well as future medical needs should be assessed in financial terms...More

CIBIL Score 2.0: Make entry easy for new borrowers
Credit Information Bureau of India Ltd or CIBIL is the country's largest databases on borrowers. With CIBIL TransUnion 2.0 it has introduced a new rating system for borrower with improved parameter to increase the detection of potential defaults. It will help banks rate new borrowers with a credit history of less than six months...More

How to save for your retirement?
Just the savings of 3-5% of earnings will be enough for retirement portfolio. However, if the savings start after the age of 40, people have to take out 15-20% of the income for retirements savings...More

Are online loan approvals of any help?
It seems easy to apply for loans through online marketing portals, as all you have to do is answer a few basic questions regarding your present job profile, income, age and current residential status...More

A gamut of financial products to woo the ladies
The modern Indian woman is fiercely independent, has a mind of her own and has the ability to multi task. Yet, when it comes to finance and financial products the general perception about women is that she is averse to risk while he is the risk taker and willing to pitch it all up for mighty gains...More

Cash crunch? How to prioritize payments?
A roof above your head is the biggest security you can get. Make sure you and your family has it all the while...More

Stock markets riding high: Look before you leap
Most small time investors who have never ventured into the stock markets, as they have been comfortable investing in traditional products...More

What is Finance Act?
Finance Bill is presented usually in the last week of February every year and this bill contains amendments in direct as well as indirect taxes...More

Buying a car? It is time for introspection!
This looks alluring given the availability of cheaper vehicle loans from various banks at present...More

Critical illness cover: Do you need it?
Critical illness can attack any of us at any point in time so it is wise to be prepared to face such unforeseen circumstances...More

Filing revised return of Income Tax u/s 139(5)
The Income-Tax Act offers you an opportunity to revise your tax return, provided the omission of wrong statement in the original return was due to a bonafi...More

Are you selling your house? Avoid these mistakes
Remember that your house is just one among the many houses on sale. You know what you paid for the house...More

How to file income-tax returns online

Filing of income tax returns online is very easy and free, especially for salaried people...More

Rent or buy – beyond financial issues
These analysts have their own set of assumptions about interest rates, rental yields, opportunity costs, and inflation in property prices...More

Esha Gupta launches 'Disney Mono Pop by Satya Paul' collection
The event was attended by Mumbai's stylish glitterati, from the likes of Mandira Bedi, Sidharth Roy Kapur, Masaba Gupta, Shaheen Abbas, Vidya Malwade, Dipti Bhatnagar and many others...More

CG Square adds to excitement with a new 'Being Human' store
The Being Human store will offer an unrivalled choice across men's and women's apparels and accessories, including Jeans, Chinos, T-shirts, Shirts, Shorts, Jackets, Innerwear and the entire range of accessories...More

Racold Thermo launches slimmest water heater in India
Velis along with the recently launched Eterno Swift and Altro2 Plus range is specifically customized for the Sanitary channel...More

MRF announces association as global partner for ICC Cricket World Cup 2015
The audience also got an exclusive glimpse of the prestigious ICC Cricket World Cup Trophy that was unveiled at the historic event...More

Grasim launches collection for the Wedding Season
From the traditional and classic off white to glamorous and elegant purple and metallic blue, this collection will surely add that extra charm to your colorful evenings...More

ICC teams up with SAP to "bring fans closer to the game"
In addition, SAP will provision cloud-based services to host the ICC's historical ICC Cricket World Cup statistics database, incorporating match data for its flagship ODI event...More

Anuja Kapur walk the Ramp for Titan
Many participants participated in the Fashion Show and display the watches of the new collection...More

'The Grand Trunk Show' at The Taj Mahal Palace, Mumbai
Taj Khazana, a chain of luxury lifestyle stores by the Taj Group will display a mix of elegant period and new age furniture and artifacts at 'The Grand Trunk Show'...More

Myshopbazzar.com declares the winners of Ms. India and Mr. India 2014 Title
Aditya Batra wins Mr. India 2014 title while Ms India 2014 was crowned to Kiara Chhabra...More

History TV18 launches 'In Search of Aliens'

Lost civilizations like the Atlantis and unfamiliar phenomena have long since intrigued mankind - whether it's conspiracy theory believers or a scientific community trying to debunk the same...More

University College Dublin announces a EUR400,000 scholarship funds for Indian students
There are over 27,000 students including 6,000 international students from 127 countries studying in UCD...More

Other Lifestyle News 

Ridhima leads challenge in USHA IGU Western India Ladies and Junior Girls Amateur Golf Championship 2014

L'Oreal unveils "Basic Science for Modern Cosmetic Dermatology"

Myra Vineyards strengthens its presence in India

Amar Chitra Katha adds "Tinkle Stars" to its franchise

Cyient and Pullela Gopichand Badminton Academy join forces to Corporate Badminton League

Star Wars - Epi VII - The Force Awakens teaser trailer unveiled!

TMA Hospitality launches Ammi's Biryani in Mumbai

ZTE introduces Grand S II for Indian market at Rs. 13,999

QuEST and Airbus engage in development activities with adopted Schools




Copyright 2014, IIFL. SEBI Registration No.: INB 231097537 Code No.: 10975

Disclaimer: Investment in financial instruments carry market risk. We do not assure or guarantee, in any manner whatsoever, timely payment/ repayment of your investment and income thereon. 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. IIFL Holdings Ltd 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.

* Name of India Infoline Limited, the holding and listed company of India Infoline Group, is changed to “IIFL Holdings Limited” with symbol “IIFL” at NSE and scrip ID “IIFL“ and scrip code “532636” at BSE, vide their circulars dated March 7, 2014.