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10 August 2008

Mgmt Guru C.K.Prahalad's Dream for India 2022, India's most investor friendly companies

Imagine 14 years into the future. The year is 2022. Independent India turns 75. At least 30 Indian companies are on the Fortune 100 list; India accounts for 10 per cent of global trade; it has a base of 200 million college graduates; and is a chief source of all global innovations. In an exclusive article written specially for Business Today, C. K. Prahalad, who is one of the world’s best-known and most respected management thinkers, lists six possibilities and goes on to show how India could, indeed, achieve them.

Cover Story
Prahalad’s plan

An India that's home to 30 of Fortune 100 companies, the world’s largest pool of technically-trained manpower, and Nobel Prize winners in arts, science and literature? That’s management guru C.K. Prahalad’s dream for India@75, and he’s got a plan how to get there. A Business Today exclusive.
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How to build 30 of the Fortune 100 companies out of India
How to create a trained workforce of 700 million people
How to get a 10% share of global trade

As the celebrations of India @60 wind down and as the national attention is consumed with problems of the moment—price of energy, inflation, debt relief to farmers, political realignment in the states—it is hard to focus attention on the future of India. The urgent is likely to drive out the important. Moreover, it is easy to get carried away by growth statistics of the past five years and feel “we have arrived”.

C.K. Prahalad Leadership, however, is about the future, about hope and change. Leaders must elevate the national debate and focus on the potential of India. A shared view of India@75, for example, can provide a framework for building a multi-stakeholder consensus and making choices that are directionally consistent with that goal. Unless we are clear about the potential, it is very difficult to undertake an arduous journey.

I believe that India has the potential to actively participate in shaping the emerging world order. This demands that India must acquire enough economic strength, technological vitality and moral leadership to do so. Just economic strength and technological maturity is not enough. We know that the Soviet Union and Nazi Germany had economic and technological muscle. They failed. Morality is an integral part of leadership. We should emphasise all three dimensions, in equal measure, in India’s march to Her destiny.

For more : Prahalad’s plan
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India's most investor friendly companies

Until early this year, it didn’t take much to make you happy if you were an equity investor. India seemed like the flavour of the decade, India Inc.’s flagbearers were snapping up big rivals elsewhere in the world, and Sensex at 25,000 was where we were all headed (gosh, all that seems so awfully long ago now). Cut to today, investors are licking their burnt fingers and swearing never to touch equity again. Not surprising at all. In a stock market that has plunged from 21,000-something to less than 15,000 now, there’s hardly anyone—small or big investor—who hasn’t lost money.

Click here to enlarge

But it’s equally true that equity provides the best returns over the long term. So, if you are in for the long haul, who should you be investing with? Which are the companies that treat their shareholders like kings? Which companies announce their results on time, hold their annual general meetings every year and, most importantly, have a history of paying dividends consistently? As you can probably imagine, there aren’t too many of them. What makes it harder still for companies is our methodology, which makes them jump through some tough hoops (see How We Did It on page 154). For example, to make the cut, a company must have had extraordinary appreciation in its stock price for three years in a row, among others.

The list on the left, then, represents companies that have delivered on our methodology’s demands. You’ll find the Top 10 featured on the pages that follow. As you can tell, these aren’t (minus a handful) the biggest companies in corporate India, but they are—well, in some sense—like Gautam Gambhir: they won’t give you sixes every over, but they score steadily over the long haul. So, if you are betting on stocks for the long term, this is a good list to start with.

More @ India's most investor friendly companies

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Source: Business Today

Numbers of Note: BT

Numbers of note

$9 trillion (Rs 387 lakh crore): Oil revenues Gulf countries will earn by 2020 if the prices remain at $100 per barrel

4.8 million: Vehicles Toyota Motor Company sold worldwide during the first half of this year. General Motors said it sold 4.5 million vehicles in the same period. Toyota came a narrow second to GM in the race to be the largest auto company in the world in 2007

$2 billion (Rs 8,600 crore): Direct revenues likely to be generated by the Beijing Olympics for the host city from sponsorships, licensing, advertisements, ticket sales and broadcasting rights, according to the Beijing Olympic Economy Research Association

€630 million (Rs 4,300 crore): Price at which Unilever sold its Bertolli olive oil business to Spain’s Grupo SOS. Bertolli is one of the best-selling brands of olive oils in the world. People are consuming more olive oil because of health benefits, such as lower cholesterol

325.78 million: Number of telephone connections in India at the end of June 2008, of which the total wireless subscriber (GSM, CDMA & WLL) base stood at 286.86 million

$7.3 billion (Rs 31,390 crore): The projected increase in spending on security biometrics worldwide by 2013, up from around $3 billion (Rs 12,900 crore) in 2008

73,050 million units: Power deficit faced by India between April 2007 and March 2008, led largely by states like Bihar, Gujarat, Haryana, Jharkhand, Madhya Pradesh, Maharashtra, Mizoram, Nagaland, Tripura and Uttar Pradesh

$90 billion (Rs 3,87,000 crore): The estimated cost of the first phase of the Delhi-Mumbai Industrial Corridor project

$30.6 billion: Is the notional value of the portfolio of risky mortgage debt that Merrill Lynch sold recently for a sum of $6.7 billion to Lone Star Funds

Rs 8,000 crore: Size of the biscuit market in the country
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Other BT articles

Editorial
Dreams for India
The potential to become a far more powerful and prosperous nation existed back then, and it exists now. What it requires, as management guru C.K. Prahalad writes so eloquently in our cover story, is not analysis but imagination.

Deal Watch
Wilbur L. Ross outbid Kingfisher Airlines to acquire SpiceJet
Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in July 2008.

Leadership Spotlight
Risk taker
Cricket has always been his passion. Though N. Srinivasan has been involved with the sport for many years in various administrative capacities, he had kept it away from his business. But this year, he decided to bid for, and bagged, the Indian Premier League’s Chennai franchise for $91 million (Rs 391 crore).

Jobs
Goodbye, appeasement
Rahul Sachitanand
As the reality of a slowdown bites the hitherto fast-growing IT industry, employees and employers need to realign their goals.
It pays to have a career in taxation

Trends
Monsoon worries
Rishi Joshi
Inflation is a bugbear that continues to give mandarins in the economic ministries sleepless nights. The latest figures show it at 11.98 per cent for the week ended July 19. Sub-normal rainfall in large parts of India can push inflation to 14 per cent.
Instant tip / BPOs are getting commoditised: Dougherty
Olympics? What’s that? / Time for fiscal worries
Dip,dip,dip / Doha Round: Dialogue of the deaf
Mumbai expensive? You must be joking / Loan defaults to rise
Geeks get reality ‘cheque’ / Air turbulence continues
At last, some good news on crude prices / Beautiful women decoded
Economy watch / The BT 50 index
Talebearer / Black, white and grey /
To be precise Noted
Just wondering ... / Power, too, now goes green

Money
The mortgage crush
K.R. Balasubramanyam
When interest rates were low, many homeowners overborrowed. But, they are now finding it difficult to cope with the increased monthly instalments. How to survive the interest rate hikes.
A few good stocks
The flexible fund manager
“Follow an asset allocation strategy”
Seniors first
MF Scoreboard

Policy Watch
Renewed thrust on divestment
The government is gearing up to radically alter its approach to disinvestment. With the Left out of the equation, moves are afoot to offload equity in some big PSUs. OIL (Oil India) and hydro-power generator NHPC are on top of the list.

Columns
My lunch with Warren Buffett
Mohnish Pabrai and his friend Guy Spier paid $650,100 to dine with the world’s best-known investor. This is what they took out from their three-hour lunch. A Business Today exclusive.

Features
Did they miss a trick or two?
Rachna Monga
Not since the technology crash of 2000 have an equity fund manager's investment strategy been tested—and the perils of running a concentrated portfolio exposed.
Shadow of a bull / Radioactive opportunity
Meet India’s biotech giant / The great Indian oil rush
Indian companies are waking up to corporate frauds
The last mile chase / The FCCB quandary

Current
On rough terrain
Suman Layak
Even as the world waits expectantly for the Nano, farmers who sold their land for the project now want it back. Will the world’s cheapest car be late coming?
The herald speaks / Eye of the Asian Tiger
Is the red for real? / Spectrum dole-out
Footloose fortune hunter / Bimmer is beaming
Something’s rotten in realty / A good deal for everyone
Still hot on start-ups / How green is My IT?
Same goal, different paths / Playing catch-up
Not Reddy, yet / Too much of a good thing
Beijing and beyond / Mutual benefit

Source: http://businesstoday.digitaltoday.in

Stock,Market Analysis from BusinessLine

Stock,Market Analysis from BusinessLine

STOCKS: Ipca Labs: Buy
Strong performance in branded finished dosages, growth momentum in exports and a strong position in anti-malarial drugs makes Ipca Labs, a medium sized pharma company with Rs 1,100 crore revenues, a good investment option. ...

STOCKS: Parsvnath Developers: Sell
The recent hikes in interest rates and the continuing scenario of unaffordable housing may prove to be an intimidating combination for the real-estate sector and realty developers. While rising cost of home loans can affect demand, higher ...

STOCKS: Praj Industries: Hold
Shareholders with a long-term perspective can continue to hold the stock of Praj Industries, a leading engineering solutions provider to ethanol plants worldwide. The company, whose growth prospects are largely intertwined with the increasing ...

STOCKS: 3i Infotech: Hold
Lowered IT spends by clients on the back of credit crisis-related write-downs and slowing economic growth in the US have created a turbulent environment for Indian software developers. In this context, a very select band of IT companies may be ...

IPOS: Austral Coke: AvoidInvestors can avoid investment in the initial public offering (IPO) of Austral Coke and Projects Ltd., considering the high execution risks and cyclical nature of the business, though prospects for volume growth are bright. ...

INSIGHT: FII activity in 2008 — Still some glimmer of hope

TECHNICAL ANALYSIS: Index OutlookVolatility was conspicuous by its absence in the equity markets last week. Trading was almost dull without the wild gyrations. Investors were treading water, buying selectively in beaten down sectors. The sea of red migrated from the trading ...

TECHNICAL ANALYSIS: Query Corner: What the charts sayI am holding shares of Idea Cellular purchased at Rs 128. Should I hold these shares at current prices or sell? ...

PETROLEUM: If crude falls further, equities may follow suitStocks, bonds, gold and every other financial asset have been dancing to global gyrations in crude oil prices. In 2008, Indian stocks have moved exactly in the opposite direction to crude prices. The BSE Sensex dropped to its low of 12576 points ...

TECHNICAL ANALYSIS:
Reliance Infra (August 10, 2008)
Unitech (August 10, 2008)
Infosys (August 10, 2008)
Tata Steel (August 10, 2008)
SBI (August 10, 2008)
Reliance (August 10, 2008)
Nifty may cool off after a strong opening (August 10, 2008)

DERIVATIVES MARKETS: Covered calls – here is how to use it

STOCK MARKETS: Baskets of X
E-mail your response before Tuesday to:
STOCK MARKETS: Bull's Eye
E-mail your response by Tuesday to

Source: BusinessLine