24 October 2010

Tata shortlisted for Fortune 'Biz Person of the Year'


 


Ratan Tata
BOSTON: Tata Group Chairman Ratan Tata is among eight business leaders from across the world shortlisted by the prestigious Fortune magazine for its 'Business Person of the Year', an honour that will go to the leader who made the "biggest mark" in business in 2010.

Fortune magazine will name its 'Business Person of the Year' on November 18.

The other business honchos in the fray are billionaire Warren Buffett , Apple Chief Steve Jobs , Ford Motor CEO Alan Mulally, Google CEO Eric Schmidt, DuPont CEO Ellen Kullman, McDonald's CEO James Skinner and Netflix CEO Reed Hastings.

On Tata, Fortune said his group's Tata Motors unit restarted orders for the "ultra cheap, high-demand Nano car" and "at the high end, has reinvigorated Jaguar."

For the title, the publication started with 32 business leaders who had been "seeded and matched-up by the editors of Fortune."

In the process of finalising the winner, Fortune will talk to analysts, consultants, executives and former executives, "those moving markets and those playing them."

Fortune has also asked its readers to submit votes online on "which leader you think made a bigger impact in 2010."

The 32 have been narrowed down to eight after two weeks of voting.

In the first week of elimination, Tata won 60 per cent of votes and beat micro-blogging site Twitter co-founder Evan Williams to reach the second round, where he beat Jamie Dimon, CEO of global financial services firm J P Morgan Chase by a similar number of votes.

Tata is pitted against Buffett in the third round of voting and elimination.

On Buffett, Fortune said the Berkshire Hathaway CEO made 2010 the "year of giving it away, getting billionaires to pledge half of their wealth."

Commenting on Jobs, the US publication said "antenna-gate did not dent him and consumers can't get enough of his i-world." Apple is now second to Exxon in market cap.

Online movie rental company Netflix's Hastings "helped drive its largest foe -- Blockbuster-- into bankruptcy, out-innovating peers at every turn, moving beyond DVDs."

Fortune said Schmidt's Google is "still the only search company that matters." The year 2010 belonged to Google's mobile operating system Android, which now has 25 per cent of market. 
 
 
 Src: ET
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Product of the week

INVESTING IN GOLD






The stock advanced 3.6 per cent after the company's Q2 results announcement on October 20. In the subsequent two trading sessions, the stock zoomed to record life-time high of Rs 738 and finished the week with 13.8 per cent gains. The weekly volume was extra-ordinary. After taking support from its long-term support range between Rs 390 and Rs 400 in May 2010, the stock recommenced its long-term uptrend. This up trend got accelerated this August and the stock rallied sharply.
Both daily and weekly indicators have entered in to over-bought territory signalling caution. Inability to move above Rs 750 will drag the stock lower to Rs 650 or Rs 570 in the medium-term. Supports below Rs 570 are at Rs 536 and Rs 500. However, strong close above Rs 750 can take the stock higher to psychological resistance level of Rs 800.
Pipavav Shipyard (Rs 92.7)

The stock has been on a medium-term downtrend from its August peak of Rs 117. Nevertheless, it found support around Rs 75 last week and rebounded gaining bullish momentum. Further, on Friday the stock sky rocketed 10 per cent accompanied with unusual surge in volume and ended the week by gaining 20 per cent. The stock is currently facing key medium-term resistance at Rs 96. Failure to surpass this resistance will lead to resumption of its downtrend and the stock can retreat to Rs 84 or Rs 75 in the medium-term. On the other hand, an emphatic move above Rs 96 will lift the stock higher to Rs 102 or 108. — Yoganand D.





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