They quit good jobs to mint millions!
A few good people who decided to quit good jobs for better ideas.
Anand Prakash
He uses handmade paper for a paperless world.
Eight years ago, Anand Prakash, an economics graduate from Delhi University, created a sample card for Rs 100. "It was immediately rejected," laughs the businessman whose turnover this year is slated to be Rs 75 lakh. "I look at a hundred per cent turnover," he grins, "and we've always managed it."
His office in Delhi's busy Shahpurjat area is a riot of colours and handmade paper products. "My next idea is to create spice paper like, say, crushed cinnamon mixed with paper," says the designer-entrepreneur who was recently shortlisted for the young Indian British Council award.
Greeting cards may be an anomaly in today's times but "my forte" insists Prakash "is anything and everything related to paper". It started with greeting cards, but soon Prakash realised that he needed to diversify. So there are paper bags, journals, recipe books, scrapbooks and photo albums created in various materials including a combination of handmade paper and brass.
Though greeting cards are just one among 75 different products, with a thousand-odd designs they remain his favourites. "I treat greeting cards as the canvas on which I unleash my creativity," he laughs. Boutique stores like Full Circle, Handpaper World, Temple Tree and Either Or stock Prakash'z Creations, now also being exported to the United States, Europe, the United Kingdom, Singapore and Spain. "I've always got 100 per cent advance for my work," he claims.
As a business model, Prakash's greeting cards business has blossomed into a unique initiative involving the local population in his native Jharkhand. "Daltongunj is one of the poorest districts of the country. But it has a rich source of natural materials that I can use in my work and, hopefully by the end of this year, we would have trained at least 30 people .
For more on this, visit: http://specials.rediff.com/money/2008/aug/04sld1.htm
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Other Rediff articles:
Amar Singh alleges insider trading by RIL
Pay Commission awards may be deferred
New payment system for IPOs by Aug 10
Meet India's youngest MTech from IIT Madras
Sanjay Jha is Motorola Co-CEO
'India can surpass Chinese growth'
Information You Can Use
• TAPMI's PG prog in mgmt• IRMA's PGP in Rural Mgmt
• IIM-A's PGP in Agri-business• IIFT's consultancy symposium
• Degree in homoeopathy• Want a career in banking?
• Interested in pharmacology?• BSc Ed for OBC students
• XLRI's distance edu courses• SP Jain's global MBA• Want to learn stem cell tech?
Source: Rediff.com
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06 August 2008
Dow up 332 pts, Nasdaq up 64 pts on Fed rate signals, oil retreat
US STOCKS-Wall St rallies on Fed rate signals, oil retreat
* Fed signals in no hurry to raise interest rates
* Oil below $120 helps airlines, retailers
* AIG leads financial stocks higher
* Dow up 2.9 pct, S&P 500 up 2.9 pct, Nasdaq up 2.8 pct (Updates to close)
The Dow rose more than 300 points.
The Fed, as expected, left benchmark lending rates unchanged at 2 percent, and its accompanying statement soothed investors who had worried that inflation headwinds would force the central bank to drive up borrowing costs in coming months.
Oil prices fell more than 2 percent, closing below the $120 a barrel mark for the first time in three months. That provided further relief on the inflation front and offered hope for consumer spending, which has been pressured by record gasoline prices.
Big winners on the day included retailers, banks and airlines, while commodity-related shares extended their retreat along with the drop in price of crude oil and gold.
"The market seems to be reacting somewhat favorably to the idea the Fed will not raise interest rates any time soon. It appears that the Fed has actually taken a little more of a dovish stance, speaking more about the downside risks to growth," said Richard Sparks, senior equities analyst, Schaeffer's Investment Research.
The Dow Jones industrial average .DJI surged 331.21 points, or 2.94 percent, to 11,615.36, while the Standard & Poor's 500 Index .SPX jumped 35.59 points, or 2.85 percent, at 1,284.60.The Nasdaq Composite Index .IXIC rose 64.27 points, or 2.81 percent, to 2,349.83.
Financial shares soared, led by a 12 percent gain in shares of insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) to $29.89. The S&P financials sub-index rose more than 5 percent.
Analysts at UBS upgraded AIG to "buy" from "neutral" on valuation and said the world's largest insurer was well-positioned to absorb further losses and didn't need to raise capital.
Shares of Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), the world's largest consumer products maker whose products range from Pampers diapers to Olay skin-care products, rose after the company posted a stronger-than-expected quarterly profit. Shares rose 3.3 percent to $67.97.
Planemaker Boeing (BA.N: Quote, Profile, Research, Stock Buzz) rose 6.3 percent to $65.20 and lifted the Dow industrials, while an index of retail shares .RLX rose 5.4 percent.
U.S. crude futures ended lower for a second day in a row, with oil operations in the Gulf of Mexico starting to return to normal as Tropical Storm Edouard moved inland after striking the Texas coast.
Early in the session, data from the Institute for Supply Management showing that the U.S. service sector shrank less than expected in July helped set the positive tone in the stock market. The ISM report included a decline in the prices paid index. For details, see [ID:nN05315223].
Trading was moderate on the New York Stock Exchange, with about 1.4 billion shares changing hands, below last year's estimated daily average of roughly 1.9 billion, while on Nasdaq, about 2.33 billion shares traded, above last year's daily average of 2.17 billion.
Advancing stocks outnumbered declining ones by 3 to 1 on the NYSE and by about 2 to 1 on the Nasdaq. (Additional reporting by Walter Brandimarte; Editing by Leslie Adler)
Oil falls below $120 as Edouard spares Gulf
Fed leaves rate unchanged at 2 per cent
The Federal Reserve held US interest rates steady on Tuesday, expressing concerns on both economic growth and inflation and offering few clues as to when it might push borrowing costs higher. The 10-1 decision by the US central bank leaves the benchmark federal funds rate target at a low 2 percent, where it has been since April. The Fed had reduced rates by a cumulative 3.25 percentage points since mid-September in response to a sharp housing retrenchment and turmoil in credit markets. "Although downside risks to growth remain, the upside risks to inflation are also of significant concern," the Fed said in a statement.
The announcement closely mirrored a statement issued after the Fed's last meeting in late June. However, the central bank omitted a phrase contained in the June statement that had said risks to growth appeared "to have diminished somewhat." US stocks added to earlier gains, while prices for US government debt securities and the dollar slipped. US short-term interest rate futures pared the implied prospects of rate hikes later this year. Dallas Federal Reserve Bank President Richard Fisher dissented from the decision, preferring higher rates. It was Fisher's fifth straight dissent.
"If there is a subtle shift in the risk assessment it is that while acknowledging the downside risks to growth, it notes the upside risks to inflation 'are also (of) significant concern,'" Marc Chandler, global head of strategy at Brown Brothers Harriman in New York, said in a note to clients. "This may have been a sufficient bone to the hawks to prevent others from joining Fisher in dissenting," he said. STILL SHAKY The Fed's decision comes as evidence points to lingering economic weakness from the housing slump, shaky consumer sentiment and tight credit. At the same time, a marked pullback in oil prices, which have slid to around $120 a barrel since cresting above $147 a barrel in July, has eased some of the central bank's worries about inflation. The drop in oil prices had led investors to anticipate the Fed would not need to raise rates soon to combat inflation at the expense of choking off already weak growth, and was a factor pushing equities prices up ahead of the central bank's decision.
The economy grew at respectable if somewhat subdued 1.9 percent annual rate in the April-June quarter, but that growth followed a 0.2 percent contraction in the fourth quarter of last year and a tepid 0.9 percent gain at the start of 2008. Many economists expect the economy to weaken anew in the second half of the year as the boost to consumer spending from government stimulus checks recedes. With the jobless rate at a four-year high and employers cutting jobs for a seventh straight month in July, many observers suggest it is a technicality to insist the economy is not in recession simply because a popular definition, two consecutive quarters of contraction, has not been met. At the heart of US economic malaise is a housing market that has not shown convincing signs of stabilizing. The pace of existing home sales fell to the lowest level since 1998 in June and mortgage applications are at their lowest level since 2000 as buyers remain on the sidelines. A mild silver lining is the recent drop in oil prices. Fed officials have worried that big increases in energy and food prices could set in train an inflationary psychology in which workers and businesses push harder to cover their costs, leading to a broader pickup in prices.
A report on Monday showed inflation jumped 0.8 percent in June, the steepest rise since 1981. The gain over the past year climbed to 4.1 percent, the most since 1991. While so-called core inflation, which excludes volatile food and energy prices and is viewed by the Fed as a good barometer of the future course of prices, has been better behaved, it also moved up in June. Core prices have risen 2.3 percent over the past year, a bit above the 1.5 percent to 2 percent range that many Fed officials believe is ideal.
Source: ET, Reuters
* Fed signals in no hurry to raise interest rates
* Oil below $120 helps airlines, retailers
* AIG leads financial stocks higher
* Dow up 2.9 pct, S&P 500 up 2.9 pct, Nasdaq up 2.8 pct (Updates to close)
*************
U.S. stocks soared on Tuesday after the Federal Reserve signaled that it is in no rush to raise interest rates and oil prices tumbled further, spurring the Dow and the S&P to their best day in four months.The Dow rose more than 300 points.
The Fed, as expected, left benchmark lending rates unchanged at 2 percent, and its accompanying statement soothed investors who had worried that inflation headwinds would force the central bank to drive up borrowing costs in coming months.
Oil prices fell more than 2 percent, closing below the $120 a barrel mark for the first time in three months. That provided further relief on the inflation front and offered hope for consumer spending, which has been pressured by record gasoline prices.
Big winners on the day included retailers, banks and airlines, while commodity-related shares extended their retreat along with the drop in price of crude oil and gold.
"The market seems to be reacting somewhat favorably to the idea the Fed will not raise interest rates any time soon. It appears that the Fed has actually taken a little more of a dovish stance, speaking more about the downside risks to growth," said Richard Sparks, senior equities analyst, Schaeffer's Investment Research.
The Dow Jones industrial average .DJI surged 331.21 points, or 2.94 percent, to 11,615.36, while the Standard & Poor's 500 Index .SPX jumped 35.59 points, or 2.85 percent, at 1,284.60.The Nasdaq Composite Index .IXIC rose 64.27 points, or 2.81 percent, to 2,349.83.
Financial shares soared, led by a 12 percent gain in shares of insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) to $29.89. The S&P financials sub-index rose more than 5 percent.
Analysts at UBS upgraded AIG to "buy" from "neutral" on valuation and said the world's largest insurer was well-positioned to absorb further losses and didn't need to raise capital.
Shares of Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), the world's largest consumer products maker whose products range from Pampers diapers to Olay skin-care products, rose after the company posted a stronger-than-expected quarterly profit. Shares rose 3.3 percent to $67.97.
Planemaker Boeing (BA.N: Quote, Profile, Research, Stock Buzz) rose 6.3 percent to $65.20 and lifted the Dow industrials, while an index of retail shares .RLX rose 5.4 percent.
U.S. crude futures ended lower for a second day in a row, with oil operations in the Gulf of Mexico starting to return to normal as Tropical Storm Edouard moved inland after striking the Texas coast.
Early in the session, data from the Institute for Supply Management showing that the U.S. service sector shrank less than expected in July helped set the positive tone in the stock market. The ISM report included a decline in the prices paid index. For details, see [ID:nN05315223].
Trading was moderate on the New York Stock Exchange, with about 1.4 billion shares changing hands, below last year's estimated daily average of roughly 1.9 billion, while on Nasdaq, about 2.33 billion shares traded, above last year's daily average of 2.17 billion.
Advancing stocks outnumbered declining ones by 3 to 1 on the NYSE and by about 2 to 1 on the Nasdaq. (Additional reporting by Walter Brandimarte; Editing by Leslie Adler)
Oil falls below $120 as Edouard spares Gulf
Fed leaves rate unchanged at 2 per cent
The Federal Reserve held US interest rates steady on Tuesday, expressing concerns on both economic growth and inflation and offering few clues as to when it might push borrowing costs higher. The 10-1 decision by the US central bank leaves the benchmark federal funds rate target at a low 2 percent, where it has been since April. The Fed had reduced rates by a cumulative 3.25 percentage points since mid-September in response to a sharp housing retrenchment and turmoil in credit markets. "Although downside risks to growth remain, the upside risks to inflation are also of significant concern," the Fed said in a statement.
The announcement closely mirrored a statement issued after the Fed's last meeting in late June. However, the central bank omitted a phrase contained in the June statement that had said risks to growth appeared "to have diminished somewhat." US stocks added to earlier gains, while prices for US government debt securities and the dollar slipped. US short-term interest rate futures pared the implied prospects of rate hikes later this year. Dallas Federal Reserve Bank President Richard Fisher dissented from the decision, preferring higher rates. It was Fisher's fifth straight dissent.
"If there is a subtle shift in the risk assessment it is that while acknowledging the downside risks to growth, it notes the upside risks to inflation 'are also (of) significant concern,'" Marc Chandler, global head of strategy at Brown Brothers Harriman in New York, said in a note to clients. "This may have been a sufficient bone to the hawks to prevent others from joining Fisher in dissenting," he said. STILL SHAKY The Fed's decision comes as evidence points to lingering economic weakness from the housing slump, shaky consumer sentiment and tight credit. At the same time, a marked pullback in oil prices, which have slid to around $120 a barrel since cresting above $147 a barrel in July, has eased some of the central bank's worries about inflation. The drop in oil prices had led investors to anticipate the Fed would not need to raise rates soon to combat inflation at the expense of choking off already weak growth, and was a factor pushing equities prices up ahead of the central bank's decision.
The economy grew at respectable if somewhat subdued 1.9 percent annual rate in the April-June quarter, but that growth followed a 0.2 percent contraction in the fourth quarter of last year and a tepid 0.9 percent gain at the start of 2008. Many economists expect the economy to weaken anew in the second half of the year as the boost to consumer spending from government stimulus checks recedes. With the jobless rate at a four-year high and employers cutting jobs for a seventh straight month in July, many observers suggest it is a technicality to insist the economy is not in recession simply because a popular definition, two consecutive quarters of contraction, has not been met. At the heart of US economic malaise is a housing market that has not shown convincing signs of stabilizing. The pace of existing home sales fell to the lowest level since 1998 in June and mortgage applications are at their lowest level since 2000 as buyers remain on the sidelines. A mild silver lining is the recent drop in oil prices. Fed officials have worried that big increases in energy and food prices could set in train an inflationary psychology in which workers and businesses push harder to cover their costs, leading to a broader pickup in prices.
A report on Monday showed inflation jumped 0.8 percent in June, the steepest rise since 1981. The gain over the past year climbed to 4.1 percent, the most since 1991. While so-called core inflation, which excludes volatile food and energy prices and is viewed by the Fed as a good barometer of the future course of prices, has been better behaved, it also moved up in June. Core prices have risen 2.3 percent over the past year, a bit above the 1.5 percent to 2 percent range that many Fed officials believe is ideal.
Source: ET, Reuters
05 August 2008
Sensex up 383 points and Nifty above 4500
Indices soar to day's high in late trade; Sensex up 383 points
Sensex ends 383 pts up on all-round buying
Indices ended at the day's high cheering crude oil's slide to a three-month low of $118 a barrel, easing inflation expectations. Interest rate sensitive sectors like banking, realty and auto stocks spearheaded the rally on speculation that US Federal Reserve will increase interest rates in its policy meet later today. Midcaps and smallcaps were also in demand.
Bombay Stock Exchange's Sensex ended 2.63 per cent or 383 points higher at 14,961.07. The index touched a high of 14,986.63 and low of 14,529.21. National Stock Exchange's Nifty rose 2.45 per cent or 107 points to 4502.85 after swinging in a range of 4515.15 and low of 4376.00.
BSE Midcap and Smallcap indices were up 1.76 per cent or 1.26 per cent respectively. Biggest Sensex gainers were Maruti Suzuki (7.84%), ICICI Bank (7.78%), Grasim Industries (7.58%), DLF (7.48%), Jaiprakash Associates (7.08%) and HDFC Bank (6.46%). Sterlite Industries (-6.72%), Tata Steel (2.59%) and Ranbaxy Laboratories (2.09%) were the losers. Market breadth on BSE showed 1761 advances and 931 declines, while on NSE, there were 863 gainers and 402 losers.
------------------------------------------
Oil falls below $119
NTPC eyes Indonesian mine
NTPC forays into renewable power
BHEL bags first order to supply 800 MW boilers
Reliance Communications to float $500-million tender for 3G rollout
RBI wants VC investment restricted to select sectors
Source: ET, SIfy
Sensex ends 383 pts up on all-round buying
Indices ended at the day's high cheering crude oil's slide to a three-month low of $118 a barrel, easing inflation expectations. Interest rate sensitive sectors like banking, realty and auto stocks spearheaded the rally on speculation that US Federal Reserve will increase interest rates in its policy meet later today. Midcaps and smallcaps were also in demand.
Bombay Stock Exchange's Sensex ended 2.63 per cent or 383 points higher at 14,961.07. The index touched a high of 14,986.63 and low of 14,529.21. National Stock Exchange's Nifty rose 2.45 per cent or 107 points to 4502.85 after swinging in a range of 4515.15 and low of 4376.00.
BSE Midcap and Smallcap indices were up 1.76 per cent or 1.26 per cent respectively. Biggest Sensex gainers were Maruti Suzuki (7.84%), ICICI Bank (7.78%), Grasim Industries (7.58%), DLF (7.48%), Jaiprakash Associates (7.08%) and HDFC Bank (6.46%). Sterlite Industries (-6.72%), Tata Steel (2.59%) and Ranbaxy Laboratories (2.09%) were the losers. Market breadth on BSE showed 1761 advances and 931 declines, while on NSE, there were 863 gainers and 402 losers.
------------------------------------------
Oil falls below $119
NTPC eyes Indonesian mine
NTPC forays into renewable power
BHEL bags first order to supply 800 MW boilers
Reliance Communications to float $500-million tender for 3G rollout
RBI wants VC investment restricted to select sectors
Source: ET, SIfy
10 emerging careers
10 emerging careers
While the world cries slowdown and news of companies downsizing makes headlines, crystal ball gazing on emerging careers might not be the order of the day.
But such is the Indian growth story that apart from expansion in the sunrise sectors, entirely new opportunities that never existed will also open up for jobseekers.
"According to the International Business Report, 2008, by consultancy firm Grant Thornton International, India alone will make up 30 per cent of the worldwide net increase in employment with 142 million new jobs by 2020," says Sampath Shetty, vice president, permanent staffing, TeamLease Services, a staffing solutions company.
OLM spoke to a host of experts to find out what specific functional area in each of the emerging sectors would be most in demand and why.
Retail
Growth stimulus: "The vast middle class, strong income growth, favourable demographic patterns and organised retailing growth estimated at 40 per cent compounded annual growth rate (CAGR) over the next few years are some of the factors that will drive the retail boom," says Rajeev Gaur, COO, TimesJobs.com, an online jobs database.
Requirements: "The need would be around 15,000-20,000 people in each of these retail chains. So, in all, the requirements would touch 80,000-85,000 every year in the next three to four years, of which frontline sales staff will be 80-85 per cent," says Vishal Chhiber, head, HR of Kelly Services India, an HR solutions firm.
The remaining jobs, says Nihar Ranjan Ghosh, senior VP HR, Spencer's Retail, "will be in retail-specific areas like visual merchandising, plannogramming (the science of maximising space efficiency in the store) and supply chain management. Retail management graduates and general MBAs will be wanted.
Real Estate/ Infrastructure
Growth stimulus: Growth in infrastructure and real estate developments with gradual opening up of FDI in certain sub-sectors will be the main reasons for the boom. "The percentage of middle class people in metros and Tier-2 cities who are buying their own property has increased from about 35 per cent in 2003 to 60 per cent today," says Prodito Sen, VP marketing and corporate affairs, Alpha G: Corp Development, a real estate developer.
Requirements: "This will recreate a need for civil engineers, a tribe we forgot during the IT boom," says Shabbir Merchant, chief value creator, Valulead Consulting, a leadership development firm. "The requirement is for 1.5 lakh engineers if the land bank we have is to be translated into construction," says Chhiber. Infrastructure projects would need more such engineers.
"Other functions like residential and commercial real estate brokers, real estate appraisers, property mangers and real estate consultants would also be in demand," says Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj, a property advisor and transaction firm.
Healthcare/Pharma
Growth stimulus: Hospital chains are expanding all over India, even in smaller towns.
Requirement: "An acute shortage of doctors is expected over the next few years, especially anaesthetists, radiologists, gynaecologists and surgeons, particularly neurosurgeons. The need would be for 45,000-50,000 doctors for the 50-odd healthcare companies expected to start operations in India," says Chhiber.
"People with a Masters in Hospital Administration (MHA) will be in demand as they are key elements to a hospital's efficiency," says Vishal Bali, CEO, Wockhardt Hospitals Group. A study by consulting firm Technopak says, "Many big hospital projects have either been delayed or stopped because of this manpower shortage."
"With the rule of thumb being four MHA people per hospital, around 2,000 hospital chains will need 8,000 such people over the next five years," adds Bali.
In pharma, demand will be created in research and development (R&D). The requirement would be for 15,000-20,000 scientists every year. "Another area which would see a demand is pharma regulation and documentation officers," says V Suresh, senior vice-president and national head (sales), Naukri.com, an online jobs portal.
Financial services
Growth stimulus: There will be a lot of new entrants and existing players diversifying with new product lines.
Requirements: "A lot of portfolio managers -- not necessarily fund managers, but those who manage portfolios beyond a certain amount -- will be required. They will be working with banks and financial institutions. The requirement will be for 25,000-30,000 every year," says Chhiber.
Suresh adds, "The salaries in private banking would be 200-300 per cent more than in retail or corporate banking."
Judhajit Das, HR chief of ICICI [Get Quote] Prudential Life Insurance, foresees maximum jobs growth in retail financial services, with 80 per cent of them being in sales and distribution. The biggest employers will be the insurance and banking sector," he says.
Gaur has some numbers: "Over 50,000 new jobs are expected to be created in the banking, financial services, and insurance sector in the current year. Banks are expected to hire 15,000-20,000 people in the next one year."
Hospitality/facilities management
Growth stimulus: With hotel rooms being added across the country at a rapid rate to keep up with growing tourist inflow, hi-tech townships being developed and malls and multiplexes coming up at every corner, people will be needed to service and maintain them.
Requirements: "Over 2.5 lakh rooms will be needed in the next five years to meet the demand from both the domestic and international guests. Over the next two or three years, we will need over 1 lakh more rooms. An average of 1.5 service personnel per room will mean an overall shortage of at least 1.5 lakh people across a whole range of hotel-related jobs in India, especially food production, food and beverage services, housekeeping and front office operations," says Satish Jayaram, principal, Institute of Hotel Management, Aurangabad.
According to Chhiber, the manpower growth prediction for facilities management is 20-25 per cent. Ashwin Puri, CEO, Property Zone, a firm that develops and manages shopping centres says, "Technical maintenance people need to understand aspects such as provision of adequate power supply, safety issues, water supply, sanitation, signages, and so on. For soft services, hospitality management experience is preferred." A mall will need five to six such managers.
Consulting services
Growth stimulus: With existing businesses growing more complex and numerous startups on the cards, there will be demand for consultants specializing in human resources (HR) and startups.
"Apart from recruitment specialists, another area of demand in the HR space will be 'employer brand specialists' as organisations move away from a me-too approach and actively seeking differentiation," says Merchant.
Requirements: Considering that with every 50-75 people recruited, one HR job gets created, TimesJobs.com estimates that 28,000 more HR jobs will be created in 2008.
Gautam Ghosh, senior manager, HR consultancy Tvarita Consulting, foresees an explosion in demand for start-up consultants and business strategists as more and more consumer-oriented portals mushroom across the country.
Entertainment
Growth stimulus: There would be about two new TV channels every month and 20-25 new FM channels every year.
Requirements: "About 4,000-5,000 people will be directly employed by TV channels every year," says Chibber.
"In radio, the demand would be for production people, anchors, technical and distribution sales professionals: jobs for 2,500 people in the next two years," he adds.
Information Technology
Growth stimulus: "Despite stagnation in the industry, a lot of project-based or contractual hiring and increasing domestic IT requirements would lead to organic growth," says Chhiber.
Requirements: Veerendra Mathur, CEO, Focus Infotech, a strategic IT HR and managed solutions firm, says, "Professionals who have a holistic knowledge and can do multitasking like coding, testing, designing and communicating with clients will be in demand."
"India will need 4.9 lakh professionals in the IT exports market, 11.1 lakh in the domestic IT industry and 20.5 lakh in the ITES-BPO sector by 2012," says Chhiber.
Customer services
Growth stimulus: Companies will put more and more stress on customer service to stay ahead of the competition.
Requirements: According to Chhiber, frontline technicians who have skills required to service and manage customers will be in demand. "About 1.5 lakh trained people every year would be needed," he adds.
Telecom
Growth stimulus: The telecom industry is growing faster in small towns and will also see a lot of organic growth. Jobs will also emerge in telecom when people employed here opt to shift to other emerging sectors.
Requirements: "The employment growth rate in telecom industry is expected to increase by seven per cent to ten per cent every year," says Gaur. "Jobs in demand would be telecom, mechanical, software and telecom test engineers, project managers, network security specialists and operation managers." According to data from FICCI, telecom will see 0.5 million new jobs by 2010 and 1.5 million by 2015.
Ghosh stresses the increasing demand for people who have a blend of two functional skills, like a financial services person with business and marketing skills. "In a dynamic job space in a growing economy," he sums up, "people with the right skill sets will always be sought after."
source: rediff
While the world cries slowdown and news of companies downsizing makes headlines, crystal ball gazing on emerging careers might not be the order of the day.
But such is the Indian growth story that apart from expansion in the sunrise sectors, entirely new opportunities that never existed will also open up for jobseekers.
"According to the International Business Report, 2008, by consultancy firm Grant Thornton International, India alone will make up 30 per cent of the worldwide net increase in employment with 142 million new jobs by 2020," says Sampath Shetty, vice president, permanent staffing, TeamLease Services, a staffing solutions company.
OLM spoke to a host of experts to find out what specific functional area in each of the emerging sectors would be most in demand and why.
Retail
Growth stimulus: "The vast middle class, strong income growth, favourable demographic patterns and organised retailing growth estimated at 40 per cent compounded annual growth rate (CAGR) over the next few years are some of the factors that will drive the retail boom," says Rajeev Gaur, COO, TimesJobs.com, an online jobs database.
Requirements: "The need would be around 15,000-20,000 people in each of these retail chains. So, in all, the requirements would touch 80,000-85,000 every year in the next three to four years, of which frontline sales staff will be 80-85 per cent," says Vishal Chhiber, head, HR of Kelly Services India, an HR solutions firm.
The remaining jobs, says Nihar Ranjan Ghosh, senior VP HR, Spencer's Retail, "will be in retail-specific areas like visual merchandising, plannogramming (the science of maximising space efficiency in the store) and supply chain management. Retail management graduates and general MBAs will be wanted.
Real Estate/ Infrastructure
Growth stimulus: Growth in infrastructure and real estate developments with gradual opening up of FDI in certain sub-sectors will be the main reasons for the boom. "The percentage of middle class people in metros and Tier-2 cities who are buying their own property has increased from about 35 per cent in 2003 to 60 per cent today," says Prodito Sen, VP marketing and corporate affairs, Alpha G: Corp Development, a real estate developer.
Requirements: "This will recreate a need for civil engineers, a tribe we forgot during the IT boom," says Shabbir Merchant, chief value creator, Valulead Consulting, a leadership development firm. "The requirement is for 1.5 lakh engineers if the land bank we have is to be translated into construction," says Chhiber. Infrastructure projects would need more such engineers.
"Other functions like residential and commercial real estate brokers, real estate appraisers, property mangers and real estate consultants would also be in demand," says Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj, a property advisor and transaction firm.
Healthcare/Pharma
Growth stimulus: Hospital chains are expanding all over India, even in smaller towns.
Requirement: "An acute shortage of doctors is expected over the next few years, especially anaesthetists, radiologists, gynaecologists and surgeons, particularly neurosurgeons. The need would be for 45,000-50,000 doctors for the 50-odd healthcare companies expected to start operations in India," says Chhiber.
"People with a Masters in Hospital Administration (MHA) will be in demand as they are key elements to a hospital's efficiency," says Vishal Bali, CEO, Wockhardt Hospitals Group. A study by consulting firm Technopak says, "Many big hospital projects have either been delayed or stopped because of this manpower shortage."
"With the rule of thumb being four MHA people per hospital, around 2,000 hospital chains will need 8,000 such people over the next five years," adds Bali.
In pharma, demand will be created in research and development (R&D). The requirement would be for 15,000-20,000 scientists every year. "Another area which would see a demand is pharma regulation and documentation officers," says V Suresh, senior vice-president and national head (sales), Naukri.com, an online jobs portal.
Financial services
Growth stimulus: There will be a lot of new entrants and existing players diversifying with new product lines.
Requirements: "A lot of portfolio managers -- not necessarily fund managers, but those who manage portfolios beyond a certain amount -- will be required. They will be working with banks and financial institutions. The requirement will be for 25,000-30,000 every year," says Chhiber.
Suresh adds, "The salaries in private banking would be 200-300 per cent more than in retail or corporate banking."
Judhajit Das, HR chief of ICICI [Get Quote] Prudential Life Insurance, foresees maximum jobs growth in retail financial services, with 80 per cent of them being in sales and distribution. The biggest employers will be the insurance and banking sector," he says.
Gaur has some numbers: "Over 50,000 new jobs are expected to be created in the banking, financial services, and insurance sector in the current year. Banks are expected to hire 15,000-20,000 people in the next one year."
Hospitality/facilities management
Growth stimulus: With hotel rooms being added across the country at a rapid rate to keep up with growing tourist inflow, hi-tech townships being developed and malls and multiplexes coming up at every corner, people will be needed to service and maintain them.
Requirements: "Over 2.5 lakh rooms will be needed in the next five years to meet the demand from both the domestic and international guests. Over the next two or three years, we will need over 1 lakh more rooms. An average of 1.5 service personnel per room will mean an overall shortage of at least 1.5 lakh people across a whole range of hotel-related jobs in India, especially food production, food and beverage services, housekeeping and front office operations," says Satish Jayaram, principal, Institute of Hotel Management, Aurangabad.
According to Chhiber, the manpower growth prediction for facilities management is 20-25 per cent. Ashwin Puri, CEO, Property Zone, a firm that develops and manages shopping centres says, "Technical maintenance people need to understand aspects such as provision of adequate power supply, safety issues, water supply, sanitation, signages, and so on. For soft services, hospitality management experience is preferred." A mall will need five to six such managers.
Consulting services
Growth stimulus: With existing businesses growing more complex and numerous startups on the cards, there will be demand for consultants specializing in human resources (HR) and startups.
"Apart from recruitment specialists, another area of demand in the HR space will be 'employer brand specialists' as organisations move away from a me-too approach and actively seeking differentiation," says Merchant.
Requirements: Considering that with every 50-75 people recruited, one HR job gets created, TimesJobs.com estimates that 28,000 more HR jobs will be created in 2008.
Gautam Ghosh, senior manager, HR consultancy Tvarita Consulting, foresees an explosion in demand for start-up consultants and business strategists as more and more consumer-oriented portals mushroom across the country.
Entertainment
Growth stimulus: There would be about two new TV channels every month and 20-25 new FM channels every year.
Requirements: "About 4,000-5,000 people will be directly employed by TV channels every year," says Chibber.
"In radio, the demand would be for production people, anchors, technical and distribution sales professionals: jobs for 2,500 people in the next two years," he adds.
Information Technology
Growth stimulus: "Despite stagnation in the industry, a lot of project-based or contractual hiring and increasing domestic IT requirements would lead to organic growth," says Chhiber.
Requirements: Veerendra Mathur, CEO, Focus Infotech, a strategic IT HR and managed solutions firm, says, "Professionals who have a holistic knowledge and can do multitasking like coding, testing, designing and communicating with clients will be in demand."
"India will need 4.9 lakh professionals in the IT exports market, 11.1 lakh in the domestic IT industry and 20.5 lakh in the ITES-BPO sector by 2012," says Chhiber.
Customer services
Growth stimulus: Companies will put more and more stress on customer service to stay ahead of the competition.
Requirements: According to Chhiber, frontline technicians who have skills required to service and manage customers will be in demand. "About 1.5 lakh trained people every year would be needed," he adds.
Telecom
Growth stimulus: The telecom industry is growing faster in small towns and will also see a lot of organic growth. Jobs will also emerge in telecom when people employed here opt to shift to other emerging sectors.
Requirements: "The employment growth rate in telecom industry is expected to increase by seven per cent to ten per cent every year," says Gaur. "Jobs in demand would be telecom, mechanical, software and telecom test engineers, project managers, network security specialists and operation managers." According to data from FICCI, telecom will see 0.5 million new jobs by 2010 and 1.5 million by 2015.
Ghosh stresses the increasing demand for people who have a blend of two functional skills, like a financial services person with business and marketing skills. "In a dynamic job space in a growing economy," he sums up, "people with the right skill sets will always be sought after."
source: rediff
Stock Analysis from deadpresident
Stock Report and Annual Reports
Reliance Industries - 2007-2008 Annual Report
Eveninger - Aug 4 2008
HCL Tech, DLF, Shriram Transport, Lanco Infratech, India Banking, India Automobiles, Larsen and Tourbo, Jindal SAW
Reliance Petroleum 2007-2008 Annual Report
India Model Portfolio - Aug 2008
Sun TV / India Insurance Sector
Weekly Trace and Track - Aug 4 2008
Weekly Technicals - Aug 4 2008
Hotel Leelaventures, Nagarjuna Constructions, IVRCL, Madhucon Projects, AIA Engineering, Suzlon Energy, Voltamp Transformers, PVR, HT Media
Tata Motors - 2007-2008 Annual Report
IDFC - 2007-2008 Annual Report
For more Annual REPORTS - CLICK HERE
Container Corporation
Television Eighteen
Exide Industries
Bharti Airtel
Most Popular Pages - Aug 2 2008
Top Picks - Aug 2008
IPCA Labs / DLF Ltd /Merck
DIC India / Bata India
Source: Deadpresident blog
Reliance Industries - 2007-2008 Annual Report
Eveninger - Aug 4 2008
HCL Tech, DLF, Shriram Transport, Lanco Infratech, India Banking, India Automobiles, Larsen and Tourbo, Jindal SAW
Reliance Petroleum 2007-2008 Annual Report
India Model Portfolio - Aug 2008
Sun TV / India Insurance Sector
Weekly Trace and Track - Aug 4 2008
Weekly Technicals - Aug 4 2008
Hotel Leelaventures, Nagarjuna Constructions, IVRCL, Madhucon Projects, AIA Engineering, Suzlon Energy, Voltamp Transformers, PVR, HT Media
Tata Motors - 2007-2008 Annual Report
IDFC - 2007-2008 Annual Report
For more Annual REPORTS - CLICK HERE
Container Corporation
Television Eighteen
Exide Industries
Bharti Airtel
Most Popular Pages - Aug 2 2008
Top Picks - Aug 2008
IPCA Labs / DLF Ltd /Merck
DIC India / Bata India
Source: Deadpresident blog
Oil slip below $120, India in top 15 automakers
Oil slips below $120
Oil prices tumbled on Monday as signs of increased Opec output and the threat to demand from an economic slowdown trumped concern about Tropical Storm Edouard and Iran’s nuclear dispute with the West. “Crude futures are down despite a brewing storm and that shows you how momentum has shifted in this market,” said Phil Flynn, analyst at Alaron Trading in Chicago. US crude for September delivery was down $4.13, or 3.3%, at $120.97 a barrel on the Comex division of New York Mercantile Exchange at 22:30 pm IST, trading from $119.50 to $126.35. Prices fell below $120 for the first time since May 6, when the intraday low was $119.33. Nymex crude took out the 10-day moving average at $124.91 and support charted at $120 on Monday. US crude hit its record $147.27 on July 11. In London, September Brent crude was down $3.62, or 2.9% at $120.56 a barrel, trading from $118.80 to $125.30. Opec supply rose for a third straight month in July, according to a news agency survey. US consumer incomes rose at the lowest rate in over a year during June, the government reported on Monday, and inflation showed signs of accelerating. Tropical Storm Edouard moved across the northern Gulf of Mexico on Monday and has a 20% chance of hitting the Texas-Louisiana coast as a hurricane, the US National Hurricane Center said. Edouard shut down the Louisiana Offshore Oil Port, partially closed the Houston Ship Channel, and shut a small amount of output. Marathon shut its Texas City, Texas, refinery ahead of the storm. Iran faces more punitive measures, including sanctions, if it does not respond positively to an offer by major powers to rein in its nuclear program in exchange for incentives, the US State Department said on Monday. Iran and the representative of six world powers talked by telephone on Monday without resolving the dispute over Tehran’s nuclear program. “Despite all these bullish inferences a lower market must mean that participants have an infinitely greater concern about a deteriorating global economy,” Mike Fitzpatrick, vice-president at MF Global said in a note.
India in top 15 automakers
With a burgeoning auto industry to boast of, India has made it to the top 15 automakers of the world and occupies the fourth position in the leading developing countries' category of motor vehicle manufacturers, a UNIDO report has said. According to the UNIDO International Yearbook of Industrial Statistics 2008, India ranks 12th in the list of world's top 15 automakers, which is led by Japan followed by the US and Germany. Other countries making it to list are Mexico, France, Korea, UK, Canada, Spain, Iran, Sweden, Brazil, Italy and Indonesia. In the leading developing countries category, India ranks fourth. The list is topped by Mexico, followed by Korea, Iran. Brazil holds the fifth position followed by Indonesia, Turkey, Argentina, Thailand, Singapore, China, China (Taiwan Province), Malaysia, UAE and Columbia. India also figures among the world's top 15 producers of chemicals and chemical products, electrical machinery and apparatus, basic metals (iron and steel, non-ferrous metals), coke, refined petroleum products, nuclear fuel, non-metallic mineral products (glass and glass products, cement, lime and plaster, ceramic products), machinery and equipment, leather, leather products and footwear and textiles, the report said.
The country ranks fifth among the top 15 textile producers in the world. China has captured the top slot followed by the US, Italy, Japan, Mexico, Thailand, Indonesia, Pakistan, Germany, Korea, UK, Brazil, Turkey and Bangladesh. The Yearbook is the 14th issue of UNIDO's annual publication and is based on 2006 data. It follows the International Standard for Industrial Classification that categorises the automobile sector as manufacture of motor vehicles, bodies (coachwork) for motor vehicles, trailers and semi-trailers and manufacture of parts and accessories of motor vehicles and their engines. The main purpose of the Yearbook is to provide statistical indicators to facilitate international comparisons relating to the manufacturing sector. Countries are listed in two categories of industrialised and developing countries in the publication.
------------------------------------------------
Other Top stories:
Govt to set up three more ultra mega power projects
Thermax bags Rs 415 cr order for power plant construction
Torrent Power plans to generate over 8600 MW
Suzlon to raise Rs 5,000 cr for expansion
ADAG ropes in NPCIL's Chaturvedi for N-power project
Adhunik Group to set up 1,000 MW power plant in Jharkhand
Anil Ambani looks to buy-out Newcastle United: Report
How Indian animation industry can be a star
Murdoch to invest $100 mn, launch 6 channels
The world's 10 most expensive streets
China's Sinopec aims to derail ONGC's bid for UK's Imperial Energy
Reliance Communications to float $500-million tender for 3G rollout
Analysts' Picks: HDFC Bank
Analysts' Picks: United Spirits
Analysts' Picks: Adunik Metaliks
Current upmove just a bear market rally, book profits at every rise
Go long in Siemens, Maruti: Religare Securities
Buy Hind Motors: Religare Securities
Buy HDFC Bank for target Rs 1,331: Religare
Analysts' PIcks: ITC
Analysts' Picks: Hindustan Construction
Analysts' Picks
Aviva launches Pension and Money back plan
What will 3G mean for you
Source: ET
Oil prices tumbled on Monday as signs of increased Opec output and the threat to demand from an economic slowdown trumped concern about Tropical Storm Edouard and Iran’s nuclear dispute with the West. “Crude futures are down despite a brewing storm and that shows you how momentum has shifted in this market,” said Phil Flynn, analyst at Alaron Trading in Chicago. US crude for September delivery was down $4.13, or 3.3%, at $120.97 a barrel on the Comex division of New York Mercantile Exchange at 22:30 pm IST, trading from $119.50 to $126.35. Prices fell below $120 for the first time since May 6, when the intraday low was $119.33. Nymex crude took out the 10-day moving average at $124.91 and support charted at $120 on Monday. US crude hit its record $147.27 on July 11. In London, September Brent crude was down $3.62, or 2.9% at $120.56 a barrel, trading from $118.80 to $125.30. Opec supply rose for a third straight month in July, according to a news agency survey. US consumer incomes rose at the lowest rate in over a year during June, the government reported on Monday, and inflation showed signs of accelerating. Tropical Storm Edouard moved across the northern Gulf of Mexico on Monday and has a 20% chance of hitting the Texas-Louisiana coast as a hurricane, the US National Hurricane Center said. Edouard shut down the Louisiana Offshore Oil Port, partially closed the Houston Ship Channel, and shut a small amount of output. Marathon shut its Texas City, Texas, refinery ahead of the storm. Iran faces more punitive measures, including sanctions, if it does not respond positively to an offer by major powers to rein in its nuclear program in exchange for incentives, the US State Department said on Monday. Iran and the representative of six world powers talked by telephone on Monday without resolving the dispute over Tehran’s nuclear program. “Despite all these bullish inferences a lower market must mean that participants have an infinitely greater concern about a deteriorating global economy,” Mike Fitzpatrick, vice-president at MF Global said in a note.
India in top 15 automakers
With a burgeoning auto industry to boast of, India has made it to the top 15 automakers of the world and occupies the fourth position in the leading developing countries' category of motor vehicle manufacturers, a UNIDO report has said. According to the UNIDO International Yearbook of Industrial Statistics 2008, India ranks 12th in the list of world's top 15 automakers, which is led by Japan followed by the US and Germany. Other countries making it to list are Mexico, France, Korea, UK, Canada, Spain, Iran, Sweden, Brazil, Italy and Indonesia. In the leading developing countries category, India ranks fourth. The list is topped by Mexico, followed by Korea, Iran. Brazil holds the fifth position followed by Indonesia, Turkey, Argentina, Thailand, Singapore, China, China (Taiwan Province), Malaysia, UAE and Columbia. India also figures among the world's top 15 producers of chemicals and chemical products, electrical machinery and apparatus, basic metals (iron and steel, non-ferrous metals), coke, refined petroleum products, nuclear fuel, non-metallic mineral products (glass and glass products, cement, lime and plaster, ceramic products), machinery and equipment, leather, leather products and footwear and textiles, the report said.
The country ranks fifth among the top 15 textile producers in the world. China has captured the top slot followed by the US, Italy, Japan, Mexico, Thailand, Indonesia, Pakistan, Germany, Korea, UK, Brazil, Turkey and Bangladesh. The Yearbook is the 14th issue of UNIDO's annual publication and is based on 2006 data. It follows the International Standard for Industrial Classification that categorises the automobile sector as manufacture of motor vehicles, bodies (coachwork) for motor vehicles, trailers and semi-trailers and manufacture of parts and accessories of motor vehicles and their engines. The main purpose of the Yearbook is to provide statistical indicators to facilitate international comparisons relating to the manufacturing sector. Countries are listed in two categories of industrialised and developing countries in the publication.
------------------------------------------------
Other Top stories:
Govt to set up three more ultra mega power projects
Thermax bags Rs 415 cr order for power plant construction
Torrent Power plans to generate over 8600 MW
Suzlon to raise Rs 5,000 cr for expansion
ADAG ropes in NPCIL's Chaturvedi for N-power project
Adhunik Group to set up 1,000 MW power plant in Jharkhand
Anil Ambani looks to buy-out Newcastle United: Report
How Indian animation industry can be a star
Murdoch to invest $100 mn, launch 6 channels
The world's 10 most expensive streets
China's Sinopec aims to derail ONGC's bid for UK's Imperial Energy
Reliance Communications to float $500-million tender for 3G rollout
Analysts' Picks: HDFC Bank
Analysts' Picks: United Spirits
Analysts' Picks: Adunik Metaliks
Current upmove just a bear market rally, book profits at every rise
Go long in Siemens, Maruti: Religare Securities
Buy Hind Motors: Religare Securities
Buy HDFC Bank for target Rs 1,331: Religare
Analysts' PIcks: ITC
Analysts' Picks: Hindustan Construction
Analysts' Picks
Aviva launches Pension and Money back plan
What will 3G mean for you
Source: ET
04 August 2008
PE, VC news
VCcircle.com
Baer Capital Launches India Long/Short Hedge Fund
IFC Supports Delhi’s Rockland Hospital With $14 Million
Tuscan Ventures Picks Up 12.5% In Mumbai-Based Logistics Firm
AMP Capital Invests $50 Million In Gayatri Infra Ventures
Gaja Capital Raises Funds From Electra, Goldman Sachs
ADAG Forms Entity To Raise $1 Billion Private Equity Fund; Ramesh Venkat To Head It
HDFC Property Ventures To Pick Up Stake In Banglore’s Nitesh Mall
A Delhi Security Company Makes $235-Million Acquisition In Australia
There Are Still Brave People In IPO Market
Ambani In Race To Acquire UK Football Team Newcastle
Dawnay Day Stake In Indian Arm May Find Way To New Silk Route: Report
Nomura Invests $16 Million In Chennai’s Real Images
Nokia Growth Partners Gets $150M From Nokia; Plans Office In India
Private Equity Deal Making May Not Necessarily See An Increase Post Credit Tightening
Value Pick: New York PE Firm Buys Into Welspun Gujarat
Red Fort Capital Acquires 49% In Godrej Properties’ Kolkata Project
Future Capital Holdings Income Grows 5-Fold; Logistcs Fund Raises $350 Million
Ajay Relan To Raise $500-750 Million Private Equity Fund
Religare Incorporates PE Arm; Real Estate Fund Also On Cards
Guggenheim Partners Aquires Thomas Weisel’s Fund of Funds In India
KKR To List In NYSE Later This Year; May Be Valued At $15 to $19 Billion
Google Plans Venture Capital Arm: WSJ
Vishal Gondal Turns Startup Saviour; Forms Investment Group
Sintex Acquires German Auto Component Maker For $50 Million
Times Group Acquires Failed Jobsite, Stake In Online Store
Government Plans Big Ticket Stake Sale In Axis Bank, PSU Banks
DFJ To Diversify Into Mid-to-Late Stage, Non-Tech Deals; Closes 17 Transactions In 2.5 Years
Deal Analysis: Mahindra Buys Out Kinetic’s Assets
UTV To Invest $75M In Gaming Business; To Acquire Two US-Based Cos
Ajay Relan To Raise $500-750 Million Private Equity Fund
------------------------------------------------
IndiaPe.com
Anil Ambani eyes UK’s Newcastle United
ADAG makes an entry into PE advisory biz
HDFC Property to buy into Nitesh Mall
Alchemist Gr looks to PE firms to fund restaurant expansion
India 2020 eyeing USD 50 mn investments in growth-stage firms
New Silk Route may acquire Dawnay Day's 50% stake in India Venture
M&A activity losing steam in India
Parsvnath to sell SEZ stake to PE Funds
Baring seeks to invest in Indian retail sector
Unitech to raise USD 1 bn from PE Funds
Nomura to acquire stake in Indian digital media
Videocon's Dhoots look to snap up IOL Netcom
TIL's investment in A1Books of USA
Genesis picks up 5% in Welspun Gujarat from secondary market
Unitech to dilute its 26 per cent stake in telecom business
Source: Above sites.
Baer Capital Launches India Long/Short Hedge Fund
IFC Supports Delhi’s Rockland Hospital With $14 Million
Tuscan Ventures Picks Up 12.5% In Mumbai-Based Logistics Firm
AMP Capital Invests $50 Million In Gayatri Infra Ventures
Gaja Capital Raises Funds From Electra, Goldman Sachs
ADAG Forms Entity To Raise $1 Billion Private Equity Fund; Ramesh Venkat To Head It
HDFC Property Ventures To Pick Up Stake In Banglore’s Nitesh Mall
A Delhi Security Company Makes $235-Million Acquisition In Australia
There Are Still Brave People In IPO Market
Ambani In Race To Acquire UK Football Team Newcastle
Dawnay Day Stake In Indian Arm May Find Way To New Silk Route: Report
Nomura Invests $16 Million In Chennai’s Real Images
Nokia Growth Partners Gets $150M From Nokia; Plans Office In India
Private Equity Deal Making May Not Necessarily See An Increase Post Credit Tightening
Value Pick: New York PE Firm Buys Into Welspun Gujarat
Red Fort Capital Acquires 49% In Godrej Properties’ Kolkata Project
Future Capital Holdings Income Grows 5-Fold; Logistcs Fund Raises $350 Million
Ajay Relan To Raise $500-750 Million Private Equity Fund
Religare Incorporates PE Arm; Real Estate Fund Also On Cards
Guggenheim Partners Aquires Thomas Weisel’s Fund of Funds In India
KKR To List In NYSE Later This Year; May Be Valued At $15 to $19 Billion
Google Plans Venture Capital Arm: WSJ
Vishal Gondal Turns Startup Saviour; Forms Investment Group
Sintex Acquires German Auto Component Maker For $50 Million
Times Group Acquires Failed Jobsite, Stake In Online Store
Government Plans Big Ticket Stake Sale In Axis Bank, PSU Banks
DFJ To Diversify Into Mid-to-Late Stage, Non-Tech Deals; Closes 17 Transactions In 2.5 Years
Deal Analysis: Mahindra Buys Out Kinetic’s Assets
UTV To Invest $75M In Gaming Business; To Acquire Two US-Based Cos
Ajay Relan To Raise $500-750 Million Private Equity Fund
------------------------------------------------
IndiaPe.com
Anil Ambani eyes UK’s Newcastle United
ADAG makes an entry into PE advisory biz
HDFC Property to buy into Nitesh Mall
Alchemist Gr looks to PE firms to fund restaurant expansion
India 2020 eyeing USD 50 mn investments in growth-stage firms
New Silk Route may acquire Dawnay Day's 50% stake in India Venture
M&A activity losing steam in India
Parsvnath to sell SEZ stake to PE Funds
Baring seeks to invest in Indian retail sector
Unitech to raise USD 1 bn from PE Funds
Nomura to acquire stake in Indian digital media
Videocon's Dhoots look to snap up IOL Netcom
TIL's investment in A1Books of USA
Genesis picks up 5% in Welspun Gujarat from secondary market
Unitech to dilute its 26 per cent stake in telecom business
Source: Above sites.
02 August 2008
Govt releases guidelines for 3G service, MNP
Govt releases guidelines for 3G service, MNP ''
The government today set the ball rolling for introduction of next generation (3G) mobile services, as also mobile number portability that would allow users to switch operators while retaining existing numbers. The new guidelines for 3G spectrum, released today, provides for a reserve price for availing of radio frequency. The price for a 2x5 Mhz block of spectrum for Mumbai and Delhi and category-A shall be Rs 160 crore and for Kolkata and category-B Rs 80 crore and for category-C Rs 30 crore. Government has also decided to allow up to 10 players in the 3G space, including eligible foreign players. The guidelines for Mobile Number Portability, also released by the government today, proposes dividing the country into two zones for implementing the scheme that is prevalent in most mature telecom markets.
The 3G spectrum will be auctioned in 450 mhz band, 800 mhz and 1,900 mhz and the guidelines exempt operators from paying any annual fee in the first year of operations. Operators, however, shall be liable to pay an annual spectrum charge of one per cent of AGR after a period of one year. All those who hold a Unified Access Service Licence or those who are otherwise eligible for obtaining UASL as per DoT guidelines of December 14, 2005 would be eligible to apply for 3G radio waves. As per the guidelines, "the applicant company shall have a minimum paid-up capital of Rs 10 crore on the date of application. Foreign equity shall be subject to extent guidelines and regulation. However, equity of foreign partner in the company shall not be less than 26 per cent." On MNP front, the guidelines said a one time non- refundable entry fee of Rs one crore is required to be paid for securing the service license. "No single company/legal persons/MNP license applicant or MNP licensee company, either directly or indirectly, will have any equity in any of the telecom service provider and vice-versa," the guidelines said.
GSM operators hail 3G policy
NEW DELHI: GSM industry on F hailed the 3G mobile telephony guidelines announced by the government saying the move will boost mobile broadband in the country. The world-wide association of GSM operators (GSMA) and lobby of domestic players COAI in a joint statement said, "The Indian government's 3G policy is a fair and transparent way of allocating additional spectrum among the service providers." Further, the automatic extension of the existing 2G licences would ensure continuity and stability of services, the associations added. A leading telecom vendor Ericsson termed the 3G policy a next step in the telecom revolution. "This will help bridge the urban-rural digital divide and lead to penetration of broadband services in the country," P Balaji, Vice President (Marketing and Strategy), Ericsson India, said. CDMA operators' association AUSPI, however, said they were still studying the guidelines. But the CDMA Development Group, a CDMA user group, welcomed the policy and said DoT's decision to open globally harmonised band in 450 MHz, 1900 MHz and 2100 MHz is good for the industry. Industry body FICCI said the 3G policy would attract huge investments in the country to the tune of 8-10 billion dollars over the next two to three years. "The 3G guidelines would allow an open global and transparent auction process consistent with best global practices," FICCI President Rajeev Chandrasekhar said in a statement. CDMA technology innovator Qualcom said the 3G policy will benefit the entire wireless communication eco-system.
Handset, service costs key to 3G success in India
Telecom: Govt to start MNP in 2 months
Govt allows mobile number portability; to start in 2 months
MTNL shares up 6% on 3G spectrum allocation
*****************
India unveils 3G policy
India on Friday joined the elite list of countries to announce a policy for third generation mobile service that will enable customers to enjoy voice, video, data and downloading facilities on their mobile phones.
Telecom Minister A Raja, unveiling the much-awaited 3G policy that would allow up to 10 players in a service area including foreign companies, said that the government expects up to Rs 40,000 crore (Rs 400 billion) from the auctioning of spectrum for 3G services.
India has 60 Mhz of 3G spectrum available. The auction will take place in the 2.1 Ghz band.
Government has set a base price of Rs 2,020 crore (Rs 20.20 billion) for each bid for a pan-India license. Initially, there will be three to five operators to sell the 3G services, including state run BSNL and MTNL [Get Quote].
The PSUs have an edge to start the 3G services earlier than others as they do not have to bid for the spectrum as they only have to match the highest bid in their respective circles. BSNL CMD Kuldeep Goyal said the PSUs should be able start the 3G service in six months. MTNL shares soared 3.76 per cent to Rs 107.70 on the priority treatment.One block shall be allocated to MTNL in Delhi and Mumbai/Metro service areas and BSNL in other areas.
He said an external agency would be appointed in the next 15 days to oversee the e-auctioning process and by December he expects the mobile operators to roll out 3G services.
As per the guideline, any licensed telecom operator can bid for 3G spectrum and the radio waves will be auctioned in 5-10 blocks depending on the availability. Each successful bidder will be allocated only one block in a service area.As per the guidelines, spectrum will be auctioned in the 450 Mhz, 800 Mhz band for EVDO (for CDMA players) and in 1900 band when it is available.
According to the reserve price for 3G spectrum fixed by the government, 2x5 Mhz block of spectrum for Mumbai, Delhi and category-A cities would cost Rs 160 crore (Rs 1.60 billion), for Kolkata and category-B Rs 80 crore (Rs 800 million)and category-C Rs 30 crore (Rs 300 million).
India, which has 287 million wireless subscribers, saw its mobile user base grow 25 times in the last five years making it the second largest wireless market in the world after China.
There are strict roll out obligations for 3G operators to discourage hoarding of spectrum. If the licensee does not achieve the roll out obligations, even after being given one year to do so, would have to make a payment of 2.5 per cent of its successful auction bid per quarter. And after that also if it does not roll out service, then its spectrum will be withdrawn.
Source:ET,rediff
The government today set the ball rolling for introduction of next generation (3G) mobile services, as also mobile number portability that would allow users to switch operators while retaining existing numbers. The new guidelines for 3G spectrum, released today, provides for a reserve price for availing of radio frequency. The price for a 2x5 Mhz block of spectrum for Mumbai and Delhi and category-A shall be Rs 160 crore and for Kolkata and category-B Rs 80 crore and for category-C Rs 30 crore. Government has also decided to allow up to 10 players in the 3G space, including eligible foreign players. The guidelines for Mobile Number Portability, also released by the government today, proposes dividing the country into two zones for implementing the scheme that is prevalent in most mature telecom markets.
The 3G spectrum will be auctioned in 450 mhz band, 800 mhz and 1,900 mhz and the guidelines exempt operators from paying any annual fee in the first year of operations. Operators, however, shall be liable to pay an annual spectrum charge of one per cent of AGR after a period of one year. All those who hold a Unified Access Service Licence or those who are otherwise eligible for obtaining UASL as per DoT guidelines of December 14, 2005 would be eligible to apply for 3G radio waves. As per the guidelines, "the applicant company shall have a minimum paid-up capital of Rs 10 crore on the date of application. Foreign equity shall be subject to extent guidelines and regulation. However, equity of foreign partner in the company shall not be less than 26 per cent." On MNP front, the guidelines said a one time non- refundable entry fee of Rs one crore is required to be paid for securing the service license. "No single company/legal persons/MNP license applicant or MNP licensee company, either directly or indirectly, will have any equity in any of the telecom service provider and vice-versa," the guidelines said.
GSM operators hail 3G policy
NEW DELHI: GSM industry on F hailed the 3G mobile telephony guidelines announced by the government saying the move will boost mobile broadband in the country. The world-wide association of GSM operators (GSMA) and lobby of domestic players COAI in a joint statement said, "The Indian government's 3G policy is a fair and transparent way of allocating additional spectrum among the service providers." Further, the automatic extension of the existing 2G licences would ensure continuity and stability of services, the associations added. A leading telecom vendor Ericsson termed the 3G policy a next step in the telecom revolution. "This will help bridge the urban-rural digital divide and lead to penetration of broadband services in the country," P Balaji, Vice President (Marketing and Strategy), Ericsson India, said. CDMA operators' association AUSPI, however, said they were still studying the guidelines. But the CDMA Development Group, a CDMA user group, welcomed the policy and said DoT's decision to open globally harmonised band in 450 MHz, 1900 MHz and 2100 MHz is good for the industry. Industry body FICCI said the 3G policy would attract huge investments in the country to the tune of 8-10 billion dollars over the next two to three years. "The 3G guidelines would allow an open global and transparent auction process consistent with best global practices," FICCI President Rajeev Chandrasekhar said in a statement. CDMA technology innovator Qualcom said the 3G policy will benefit the entire wireless communication eco-system.
Handset, service costs key to 3G success in India
Telecom: Govt to start MNP in 2 months
Govt allows mobile number portability; to start in 2 months
MTNL shares up 6% on 3G spectrum allocation
*****************
India unveils 3G policy
India on Friday joined the elite list of countries to announce a policy for third generation mobile service that will enable customers to enjoy voice, video, data and downloading facilities on their mobile phones.
Telecom Minister A Raja, unveiling the much-awaited 3G policy that would allow up to 10 players in a service area including foreign companies, said that the government expects up to Rs 40,000 crore (Rs 400 billion) from the auctioning of spectrum for 3G services.
India has 60 Mhz of 3G spectrum available. The auction will take place in the 2.1 Ghz band.
Government has set a base price of Rs 2,020 crore (Rs 20.20 billion) for each bid for a pan-India license. Initially, there will be three to five operators to sell the 3G services, including state run BSNL and MTNL [Get Quote].
The PSUs have an edge to start the 3G services earlier than others as they do not have to bid for the spectrum as they only have to match the highest bid in their respective circles. BSNL CMD Kuldeep Goyal said the PSUs should be able start the 3G service in six months. MTNL shares soared 3.76 per cent to Rs 107.70 on the priority treatment.One block shall be allocated to MTNL in Delhi and Mumbai/Metro service areas and BSNL in other areas.
He said an external agency would be appointed in the next 15 days to oversee the e-auctioning process and by December he expects the mobile operators to roll out 3G services.
As per the guideline, any licensed telecom operator can bid for 3G spectrum and the radio waves will be auctioned in 5-10 blocks depending on the availability. Each successful bidder will be allocated only one block in a service area.As per the guidelines, spectrum will be auctioned in the 450 Mhz, 800 Mhz band for EVDO (for CDMA players) and in 1900 band when it is available.
According to the reserve price for 3G spectrum fixed by the government, 2x5 Mhz block of spectrum for Mumbai, Delhi and category-A cities would cost Rs 160 crore (Rs 1.60 billion), for Kolkata and category-B Rs 80 crore (Rs 800 million)and category-C Rs 30 crore (Rs 300 million).
India, which has 287 million wireless subscribers, saw its mobile user base grow 25 times in the last five years making it the second largest wireless market in the world after China.
There are strict roll out obligations for 3G operators to discourage hoarding of spectrum. If the licensee does not achieve the roll out obligations, even after being given one year to do so, would have to make a payment of 2.5 per cent of its successful auction bid per quarter. And after that also if it does not roll out service, then its spectrum will be withdrawn.
Source:ET,rediff
01 August 2008
Sai72Stocks just behind Sensex,Nifty Returns
Date : 23.05.2008 Comparison dt: 31.07.2008 Returns%(approxi)Points
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
All of you know that i have created a portfolio of SAI72STOCKS for Return comparison with SENSEX and NIFTY returns from the concept of IIM-L 60 Stocks.
Before that i am submitting previous articles/links on SAI72stocks to you.
[*****************
Sai72Stocks Vs Nifty,Sensex
Hi all... I am again here to provide Interesting articles in and around Market, Corporates, World Business and etc. From the content of below article [ IIM-L 60 beats Nifty 50 gains ], I wish to create New portfolio of 72 Stocks in the Name of SAI72Stocks to check my ability in Portfolio Mgmt Services. I have created this portfolio by picking some stocks in Nifty, Sensex [as they have strong fundamentals] and other Midcap stocks. Lets us see how this portfolio performs Vs Sensex, Nifty.I will compare my portfolio with Sensex, Nifty in a regular Intervals. I will give the returns of My portfolio in the coming weeks. I will publish the next return {Avg.Return}comparison on July 31, 2008 [ Nearly 70 days from 24.05.2008].I have taken my portfolio points by averaging 72 stocks. I didn’t give any weightage to Stocks. And I have taken Stock values, Nifty, Sensex points as on 23.05.2008 to make my debut Vs Sensex, Nifty.Hope all of you will have interest in this article/concept. Also listed my Stock portfolio.
Date : As on 23.05.2008 Next comparison date: 31.07.2008 [ July 31,2008]
************]
From the above you can know it is the time to submit the Returns of SAI72stocks with SENSEX and NIFTY. I have taken share values to rounded one. And SAI72stocks value is given by average value multiplied by 2 (to make number into 4 digits). All the readers are requested to excuse our team if any calculation mistakes persists.
Date : 23.05.2008 Comparison dt: 31.07.2008 Returns%(approxi)
Points
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
Despite some points loss in my portfolio stocks, I manage my stocks returns just behind (less than 1-2% ) the SENSEX and NIFTY returns of the above period.
SAI72Stocks value on both the dates:
1 Axis Bank 799.85 654
2 ACC 667.45 584
3 Bharti Airtel 836.80 799
4 BHEL 1747.20 1679
5 Bank of India 325.35 273
6 Bajaj Holdings 673.75 350
7 Cipla 203.50 219
8 Cairn India 306.15 242
9 Chennai Petro 341.40 302
10 Corporation Ban 344.25 258
11 DLF 609.75 509
12 Dr Reddys Labs 686.75 569
13 Essar Oil 246.80 189
14 Grasim 2289.00 1800
15 GMR Infra 138.50 93
16 GE Shipping 499.20 408
17 HDFC 2678.30 2276
18 HUL 235.75 240
19 HDFC Bank 1383.00 1095
20 Hindalco 192.95 141
21 Hero Honda 797.50 804
22 HDIL 758.60 450
23 HT Media 136.45 111
24 ITC 213.60 188
25 ICICI Bank 863.75 635
26 Infosys 1826.40 1583
27 Idea Cellular 107.10 88
28 India Cements 164.30 145
29 Indiabulls 413.50 286
30 IDFC 156.05 92
31 IOC 420.05 403
32 Jaiprakash Asso 237.65 157
33 Jindal Steel 2387.15 2070
34 JSW Steel 1077.10 734
35 Jet Airways 526.65 467
36 Kotak Mahindra 700.85 531
37 Larsen 2844.75 2602
38 Lupin 683 738
39 Maruti Suzuki 789.60 575
40 NTPC 176.95 170.45
41 Nestle 1771.95 1632
42 Neyveli Lignite 143.55 116
43 Nicholas Pirama 357.60 321
44 NALCO 534.45 424
45 ONGC 902.05 996
46 PNB 514.15 452
47 Power Grid Corp 100.40 95
48 Power Finance 143.05 134
49 Reliance 2554.80 2207
50 Reliance Comm 572.30 500
51 Ranbaxy Labs 496.50 499
52 Reliance Infra 1290.40 965
53 Reliance Petro 184.05 165
54 Rajesh Exports 95.20 51
55 Rel Capital 1321.05 1302
56 REC 115.00 88
57 SBI 1573.25 /1415
58 Suzlon Energy 296.90 /223
59 Sun Pharma 1328.85 /1411
60 Sterlite Ind 903.75 /632
61 SAIL 172.60 /140.6
62 Sesa Goa 4065.85 /3372
63 Tata Steel 896.50 /655
64 Tata Motors 637.55 /404
65 Tata Power 1440.45 /1160
66 Titan Industrie 1200.70 /1127
67 Tata Chemicals 384.10 /320
68 TV 18 328.30 /220
69 Unitech 268.00 /164
70 Videocon Indust 386.75 /287
71 Voltas 158.10 / 122
72 Welspun Guj 377.00 /330
Despite some points loss in my portfolio stocks, I manage my stocks returns just behind (less than 1-2% ) the SENSEX and NIFTY returns of the above period.
Date : 23.05.2008 Comparison dt: 31.07.2008 Returns%(approxi)Points
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
Thank you for viewing /supporting this concept.
******************************************
Next we will compare this SAI72stocks of period from 01.08.2008 to 30.10.2008 again with SENSEX and NIFTY returns of the same period.
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
All of you know that i have created a portfolio of SAI72STOCKS for Return comparison with SENSEX and NIFTY returns from the concept of IIM-L 60 Stocks.
Before that i am submitting previous articles/links on SAI72stocks to you.
[*****************
Sai72Stocks Vs Nifty,Sensex
Hi all... I am again here to provide Interesting articles in and around Market, Corporates, World Business and etc. From the content of below article [ IIM-L 60 beats Nifty 50 gains ], I wish to create New portfolio of 72 Stocks in the Name of SAI72Stocks to check my ability in Portfolio Mgmt Services. I have created this portfolio by picking some stocks in Nifty, Sensex [as they have strong fundamentals] and other Midcap stocks. Lets us see how this portfolio performs Vs Sensex, Nifty.I will compare my portfolio with Sensex, Nifty in a regular Intervals. I will give the returns of My portfolio in the coming weeks. I will publish the next return {Avg.Return}comparison on July 31, 2008 [ Nearly 70 days from 24.05.2008].I have taken my portfolio points by averaging 72 stocks. I didn’t give any weightage to Stocks. And I have taken Stock values, Nifty, Sensex points as on 23.05.2008 to make my debut Vs Sensex, Nifty.Hope all of you will have interest in this article/concept. Also listed my Stock portfolio.
Date : As on 23.05.2008 Next comparison date: 31.07.2008 [ July 31,2008]
************]
From the above you can know it is the time to submit the Returns of SAI72stocks with SENSEX and NIFTY. I have taken share values to rounded one. And SAI72stocks value is given by average value multiplied by 2 (to make number into 4 digits). All the readers are requested to excuse our team if any calculation mistakes persists.
Date : 23.05.2008 Comparison dt: 31.07.2008 Returns%(approxi)
Points
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
Despite some points loss in my portfolio stocks, I manage my stocks returns just behind (less than 1-2% ) the SENSEX and NIFTY returns of the above period.
SAI72Stocks value on both the dates:
1 Axis Bank 799.85 654
2 ACC 667.45 584
3 Bharti Airtel 836.80 799
4 BHEL 1747.20 1679
5 Bank of India 325.35 273
6 Bajaj Holdings 673.75 350
7 Cipla 203.50 219
8 Cairn India 306.15 242
9 Chennai Petro 341.40 302
10 Corporation Ban 344.25 258
11 DLF 609.75 509
12 Dr Reddys Labs 686.75 569
13 Essar Oil 246.80 189
14 Grasim 2289.00 1800
15 GMR Infra 138.50 93
16 GE Shipping 499.20 408
17 HDFC 2678.30 2276
18 HUL 235.75 240
19 HDFC Bank 1383.00 1095
20 Hindalco 192.95 141
21 Hero Honda 797.50 804
22 HDIL 758.60 450
23 HT Media 136.45 111
24 ITC 213.60 188
25 ICICI Bank 863.75 635
26 Infosys 1826.40 1583
27 Idea Cellular 107.10 88
28 India Cements 164.30 145
29 Indiabulls 413.50 286
30 IDFC 156.05 92
31 IOC 420.05 403
32 Jaiprakash Asso 237.65 157
33 Jindal Steel 2387.15 2070
34 JSW Steel 1077.10 734
35 Jet Airways 526.65 467
36 Kotak Mahindra 700.85 531
37 Larsen 2844.75 2602
38 Lupin 683 738
39 Maruti Suzuki 789.60 575
40 NTPC 176.95 170.45
41 Nestle 1771.95 1632
42 Neyveli Lignite 143.55 116
43 Nicholas Pirama 357.60 321
44 NALCO 534.45 424
45 ONGC 902.05 996
46 PNB 514.15 452
47 Power Grid Corp 100.40 95
48 Power Finance 143.05 134
49 Reliance 2554.80 2207
50 Reliance Comm 572.30 500
51 Ranbaxy Labs 496.50 499
52 Reliance Infra 1290.40 965
53 Reliance Petro 184.05 165
54 Rajesh Exports 95.20 51
55 Rel Capital 1321.05 1302
56 REC 115.00 88
57 SBI 1573.25 /1415
58 Suzlon Energy 296.90 /223
59 Sun Pharma 1328.85 /1411
60 Sterlite Ind 903.75 /632
61 SAIL 172.60 /140.6
62 Sesa Goa 4065.85 /3372
63 Tata Steel 896.50 /655
64 Tata Motors 637.55 /404
65 Tata Power 1440.45 /1160
66 Titan Industrie 1200.70 /1127
67 Tata Chemicals 384.10 /320
68 TV 18 328.30 /220
69 Unitech 268.00 /164
70 Videocon Indust 386.75 /287
71 Voltas 158.10 / 122
72 Welspun Guj 377.00 /330
Despite some points loss in my portfolio stocks, I manage my stocks returns just behind (less than 1-2% ) the SENSEX and NIFTY returns of the above period.
Date : 23.05.2008 Comparison dt: 31.07.2008 Returns%(approxi)Points
Sensex 16649 14355 -15.98
Nifty 4946 4332 -14.14
Sai72Stocks 1565 1317 -17.30
Thank you for viewing /supporting this concept.
******************************************
Next we will compare this SAI72stocks of period from 01.08.2008 to 30.10.2008 again with SENSEX and NIFTY returns of the same period.
Sensex ends 300 pts up after heavy buying
Sensex ends 300 pts up after heavy buying
Tracking weak global markets, equities opened on a highly negative note on the major Indian bourses this morning. Barring a few stocks from the metal and PSU sectors, stocks from other sectors were seen struggling for support for well over an hour.
However, as the cautious mood gave way to some optimism as the session progressed, key stocks from capital goods, information technology, power and oil stocks started attracting attention. Thereafter, it was a one way trip up north for the benchmark indices Sensex and Nifty in afternoon trade today.
Expectations of brighter days for the power and infrastructure sector post implementation of Indo-US civilian nuclear deal triggered some hectic buying in quite a number of front line stocks this afternoon.
The Sensex, which had slipped by nearly 325 points to 14,032.87 in early trade, ended the session with a gain of 300.94 points or 2.1% at 14,656.69, near its intra-day high of 14,682.33. The Nifty closed with a gain of 80.60 points or 1.86% at 4413.55. The NSE barometer touched a high of 4422.95 and a low of 4235.70 in intra-day trades today.
So sharp were the gains posted by stocks from capital goods, power, PSU, oil and banking sectors that the respective sectoral indices moved up by 3% - 4% today. The IT index ended nearly 3% up. BSE Metal (2.62%) and Realty (2.37%) also ended stronger. Select consumer durables and pharma stocks edged up while auto and FMCG stocks had a sluggish outing.
Jaiprakash Associates flared up by 8.7% on strong buying support today. State Bank of India, which opened on a weak note this morning, rallied sharply in afternoon trade and ended with a handsome gain of 6.05%. HDFC spurted 5.55%.
Reliance Infrastructure (4.75%), BHEL (4.65%), Reliance Industries (4.25%), Wipro (4%), Tata Steel (3.95%), NTPC (3.7%), Infosys Technologies (3.6%), Larsen & Toubro (3.45%), Satyam Computer Services (2.85%), Bharti Airtel (2.5%), Ranbaxy Laboratories (2.15%), DLF (2.15%), Grasim Industries (up nearly 2%) had a bright outing.
ICICI Bank and HDFC Bank rebounded sharply from their lower levels and ended stronger by 1.15% and 1.1% respectively. Tata Consultancy Services and Mahindra & Mahindra closed with modest gains. ONGC and Sterlite Industries ended flat. Reliance Communications (down 12.65%) opened weak and remained so right till the end. Tata Power lost 3.75%. Maruti Suzuki ended 2.5% down at Rs 560.50. Hindustan Unilever (down 1.9%), ACC (down 1.3%) and Tata Motors (down 1.15%) also ended with sharp losses. Hindalco and ITC settled slightly behind their previous closing levels.
Punjab National Bank (up 7.1%) was the biggest gainer from the Nifty pack. Suzlon Energy ended with a gain of a little over 7%. Siemens moved up by around 5%. GAIL India, ABB, HCL Technologies, Unitech, Zee Entertainment, Power Grid Corporation, SAIL, Reliance Petroleum, Dr. Reddy's Laboratories, Sun Pharmaceuticals and BPCL also ended with impressive gains.
HMT, India Infoline, IFCI, Gujarat Minerals, JSW Steel, Indian Bank, Bank of Baroda, Chambal Fertilizers & Chemicals, Bajaj Hindustan, Jindal Saw, Canara Bank, GMR Infrastructure, Jet Airways, Federal Bank, IDFC and Bank of India went up by 6% - 10% today.
Jai Balaji Industries, Prakash Industries, Renuka Sugars, Opto Circuit, Kalpataru Power, Kesoram, Electrosteel Castings, Development Credit Bank, Omaxe and ING Vysya Bank were among the prominent gainers in the midcap space today. The market breadth turned positive in afternoon trade. When the session ended, out of 2732 stocks traded on BSE, 1551 stocks were up in the positive territory and 1108 stocks had eased into the negative zone. 73 stocks ended flat.
Source: Sify
Tracking weak global markets, equities opened on a highly negative note on the major Indian bourses this morning. Barring a few stocks from the metal and PSU sectors, stocks from other sectors were seen struggling for support for well over an hour.
However, as the cautious mood gave way to some optimism as the session progressed, key stocks from capital goods, information technology, power and oil stocks started attracting attention. Thereafter, it was a one way trip up north for the benchmark indices Sensex and Nifty in afternoon trade today.
Expectations of brighter days for the power and infrastructure sector post implementation of Indo-US civilian nuclear deal triggered some hectic buying in quite a number of front line stocks this afternoon.
The Sensex, which had slipped by nearly 325 points to 14,032.87 in early trade, ended the session with a gain of 300.94 points or 2.1% at 14,656.69, near its intra-day high of 14,682.33. The Nifty closed with a gain of 80.60 points or 1.86% at 4413.55. The NSE barometer touched a high of 4422.95 and a low of 4235.70 in intra-day trades today.
So sharp were the gains posted by stocks from capital goods, power, PSU, oil and banking sectors that the respective sectoral indices moved up by 3% - 4% today. The IT index ended nearly 3% up. BSE Metal (2.62%) and Realty (2.37%) also ended stronger. Select consumer durables and pharma stocks edged up while auto and FMCG stocks had a sluggish outing.
Jaiprakash Associates flared up by 8.7% on strong buying support today. State Bank of India, which opened on a weak note this morning, rallied sharply in afternoon trade and ended with a handsome gain of 6.05%. HDFC spurted 5.55%.
Reliance Infrastructure (4.75%), BHEL (4.65%), Reliance Industries (4.25%), Wipro (4%), Tata Steel (3.95%), NTPC (3.7%), Infosys Technologies (3.6%), Larsen & Toubro (3.45%), Satyam Computer Services (2.85%), Bharti Airtel (2.5%), Ranbaxy Laboratories (2.15%), DLF (2.15%), Grasim Industries (up nearly 2%) had a bright outing.
ICICI Bank and HDFC Bank rebounded sharply from their lower levels and ended stronger by 1.15% and 1.1% respectively. Tata Consultancy Services and Mahindra & Mahindra closed with modest gains. ONGC and Sterlite Industries ended flat. Reliance Communications (down 12.65%) opened weak and remained so right till the end. Tata Power lost 3.75%. Maruti Suzuki ended 2.5% down at Rs 560.50. Hindustan Unilever (down 1.9%), ACC (down 1.3%) and Tata Motors (down 1.15%) also ended with sharp losses. Hindalco and ITC settled slightly behind their previous closing levels.
Punjab National Bank (up 7.1%) was the biggest gainer from the Nifty pack. Suzlon Energy ended with a gain of a little over 7%. Siemens moved up by around 5%. GAIL India, ABB, HCL Technologies, Unitech, Zee Entertainment, Power Grid Corporation, SAIL, Reliance Petroleum, Dr. Reddy's Laboratories, Sun Pharmaceuticals and BPCL also ended with impressive gains.
HMT, India Infoline, IFCI, Gujarat Minerals, JSW Steel, Indian Bank, Bank of Baroda, Chambal Fertilizers & Chemicals, Bajaj Hindustan, Jindal Saw, Canara Bank, GMR Infrastructure, Jet Airways, Federal Bank, IDFC and Bank of India went up by 6% - 10% today.
Jai Balaji Industries, Prakash Industries, Renuka Sugars, Opto Circuit, Kalpataru Power, Kesoram, Electrosteel Castings, Development Credit Bank, Omaxe and ING Vysya Bank were among the prominent gainers in the midcap space today. The market breadth turned positive in afternoon trade. When the session ended, out of 2732 stocks traded on BSE, 1551 stocks were up in the positive territory and 1108 stocks had eased into the negative zone. 73 stocks ended flat.
Source: Sify
10 nations with high inflation
10 nations with high inflation
1) Zimbabwe – Over 1 million per centWeary Zimbabweans are facing a new wave of price increases that will put many basic goods even further out of their reach: A loaf of bread now costs what 12 new cars did a decade ago.According to an AP report, independent finance houses said in an assessment recently that annual inflation rose in May 2008 to 1,063,572 per cent based on prices of a basket of basic foodstuffs. Economic analysts say unless the rate of inflation is slowed, annual inflation will likely reach about 5 million per cent by October.A small pack of locally-produced coffee beans now cost just short of 1 billion Zimbabwe dollars. A decade ago, that sum would have bought 60 new cars.
2) Burma – 40%Burma comes in second behind Zimbabwe with its inflation rate hovering around 40 per cent. It has been termed a ‘least developed country’ and continues to struggle as one of the poorest countries in Asia.According to 2007 estimates, 32.7 per cent of the Burmese people live in poverty. Per capita GDP in Burma is $1,900 compared with $8,000 in neighboring Thailand, $26,400 in South Korea, and $33,800 in Japan.
3) Iran – 25.3%Iran’s annual inflation rate rose to 25.3 per cent in May compared with the previous month, when it reached 24.2 per cent, the central bank said. The statistics highlight the economic problems facing President Mahmoud Ahmadinejad’s government, under pressure from many lawmakers, media and the public over its failure to rein in the strength of inflation in the world’s fourth-largest oil producer. The central bank said that prices rose by 1.7 per cent in the Iranian month to May 20, pushing up the year-on-year rate to more than 25 per cent, according to a Reuters report.Monthly prices increased 3.1 per cent the previous month, to April 19, when the year-on-year rate was 24.2 per cent. The year-on-year rate was 22.5 per cent in March, showing a steadily climbing trend. Iran’s inflation rate was about 12 per cent in mid-2005, when the conservative president came to power pledging to share Iran’s oil wealth more fairly.
4) Vietnam – 25.2%Vietnam’s ruling Communist Party is facing one of its biggest challenges with yearly inflation in double-digits for seven consecutive months, hitting 25.2 per cent in May.Despite authorities’ efforts to control inflation, including interest rate hikes, consumer prices were 4 percentage points higher than last month, according to the Government Statistics Office, news agency AP reported.Vietnam’s inflation rate is among the highest in Asia, and higher food prices in particular are hurting the country’s poor. Soaring imports have tripled the trade deficit this year to $14.4 billion, while the Vietnamese stock market has lost 60 per cent, making it the world’s worst-performing market.
5) Egypt – 21%The Egyptian government has reported that inflation rates in the country rose to over 21 per cent in May, as a direct result of rising prices that have worsened the North African nation’s food crisis.The official news agency, MENA, quoted an Egyptian government official as saying that inflation in rural areas had "increased even higher to 22.9 per cent" for the month, raising concerns over widespread discontent.“The May figures are in stark contrast to the already high inflation rate reported in March of around 14 percent. This does not bode well for approximately 20 percent of the nations almost 80 million people, who live below the poverty line of US$2 per day,” the official was quoted as saying.
For full article:10 nations with high inflation
Source:ET
1) Zimbabwe – Over 1 million per centWeary Zimbabweans are facing a new wave of price increases that will put many basic goods even further out of their reach: A loaf of bread now costs what 12 new cars did a decade ago.According to an AP report, independent finance houses said in an assessment recently that annual inflation rose in May 2008 to 1,063,572 per cent based on prices of a basket of basic foodstuffs. Economic analysts say unless the rate of inflation is slowed, annual inflation will likely reach about 5 million per cent by October.A small pack of locally-produced coffee beans now cost just short of 1 billion Zimbabwe dollars. A decade ago, that sum would have bought 60 new cars.
2) Burma – 40%Burma comes in second behind Zimbabwe with its inflation rate hovering around 40 per cent. It has been termed a ‘least developed country’ and continues to struggle as one of the poorest countries in Asia.According to 2007 estimates, 32.7 per cent of the Burmese people live in poverty. Per capita GDP in Burma is $1,900 compared with $8,000 in neighboring Thailand, $26,400 in South Korea, and $33,800 in Japan.
3) Iran – 25.3%Iran’s annual inflation rate rose to 25.3 per cent in May compared with the previous month, when it reached 24.2 per cent, the central bank said. The statistics highlight the economic problems facing President Mahmoud Ahmadinejad’s government, under pressure from many lawmakers, media and the public over its failure to rein in the strength of inflation in the world’s fourth-largest oil producer. The central bank said that prices rose by 1.7 per cent in the Iranian month to May 20, pushing up the year-on-year rate to more than 25 per cent, according to a Reuters report.Monthly prices increased 3.1 per cent the previous month, to April 19, when the year-on-year rate was 24.2 per cent. The year-on-year rate was 22.5 per cent in March, showing a steadily climbing trend. Iran’s inflation rate was about 12 per cent in mid-2005, when the conservative president came to power pledging to share Iran’s oil wealth more fairly.
4) Vietnam – 25.2%Vietnam’s ruling Communist Party is facing one of its biggest challenges with yearly inflation in double-digits for seven consecutive months, hitting 25.2 per cent in May.Despite authorities’ efforts to control inflation, including interest rate hikes, consumer prices were 4 percentage points higher than last month, according to the Government Statistics Office, news agency AP reported.Vietnam’s inflation rate is among the highest in Asia, and higher food prices in particular are hurting the country’s poor. Soaring imports have tripled the trade deficit this year to $14.4 billion, while the Vietnamese stock market has lost 60 per cent, making it the world’s worst-performing market.
5) Egypt – 21%The Egyptian government has reported that inflation rates in the country rose to over 21 per cent in May, as a direct result of rising prices that have worsened the North African nation’s food crisis.The official news agency, MENA, quoted an Egyptian government official as saying that inflation in rural areas had "increased even higher to 22.9 per cent" for the month, raising concerns over widespread discontent.“The May figures are in stark contrast to the already high inflation rate reported in March of around 14 percent. This does not bode well for approximately 20 percent of the nations almost 80 million people, who live below the poverty line of US$2 per day,” the official was quoted as saying.
For full article:10 nations with high inflation
Source:ET
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10 nations with high inflation
The world's top 10 companies
The world's top 10 companies
World's top 10 companies
July 31, 2008
HSBC Holdings tops the Forbes 2000 list, it's followed by General Electric and Bank of America.
The rankings are based on a combination of the sales, profits, assets and market capitalisation of these companies. Check out the world's top ten companies
1. HSBC Holdings
2. General Electric
3. Bank of America
4. JPMorgan Chase
5. ExxonMobil
6. Royal Dutch Shell
7. BP
8. Toyota Motor Co
9. ING Group
10. Berkshire Hathaway
For full article: The world's top 10 companies
Source:Rediff
World's top 10 companies
July 31, 2008
HSBC Holdings tops the Forbes 2000 list, it's followed by General Electric and Bank of America.
The rankings are based on a combination of the sales, profits, assets and market capitalisation of these companies. Check out the world's top ten companies
1. HSBC Holdings
2. General Electric
3. Bank of America
4. JPMorgan Chase
5. ExxonMobil
6. Royal Dutch Shell
7. BP
8. Toyota Motor Co
9. ING Group
10. Berkshire Hathaway
For full article: The world's top 10 companies
Source:Rediff
Selling gas to RNRL will lead to loss of $900 mn: RIL
Selling gas to RNRL will lead to loss of $900 mn: RIL
Reliance Industries on Thursday informed the Bombay High Court that it would incur losses in the range of $600-900 million annually if it supplies gas to Anil Ambani-owned Reliance Natural Resources Ltd at 2.34 dollars per mmBtu. Mukesh Ambani-owned RIL told the court that it could not promise a fixed quantity of gas to RNRL at 2.34 dollars, which is much lower than the price fixed by the government at 4 dollars per mmBtu. If RIL entered into a contract to supply the fixed quantity of gas at 2.34 dollars, it would incur annual losses ranging from $600 to 900 million, RIL told the high court. Division bench of Justices J N Patel and K Tated is hearing the dispute over gas supply from the Krishna-Godavari basin between RIL and RNRL.
RIL's counsel Harish Salve argued that RNRL's power plant was not going to commence before 2010 and till then, RIL could not be restrained from extracting gas. As such, RIL could not wait for RNRL's power plant to come up and so they had to enter into gas sale purchase agreements (GSPA) with third parties. Once RNRL notified it that their plant was working, they could enter into GSPA between them.
"The country needs the gas and if we keep waiting for RNRL, the government which owns the natural resource, will take us out of contract by 2025 anyway when the lease ends," said Salve. RNRL has already given up its right on the gas for trading earlier, which they are trying to revive, he contended and added that the Gas Supply Master Agreement between RIL and RNRL specifically includes supply of gas on a suitable agreement for RNRL's power plants. Regarding supply of gas for the RNRL power plant when it comes up, the quantity can be decided in accordance with a formula considering the total resource of gas available, the tenure for which the extraction will be carried out less the share that has to be given to the government on an annual basis, Salve contended.
RNRL is entitled to 28 mmscmd of gas when the production reaches 40 mmscmd. If RNRL want to procure more in case when the production increases, it will have to purchase it at market price, he said. The GSPA has to be revised in accordance with the annual production of gas, he further said.
Also, just because RIL and RNRL are in dispute, the production sharing contract (PSC) with the government cannot be compromised, added Salve. "We are ready to give the gas at the fixed price provided the government approves such price," he said. RNRL has been citing the memorandum of understanding between the two companies regarding the fixed quantity of gas at the said price but the MOU cannot supercede the PSC with the government, he contended. Also, the government has specifically said that the prices of gas to any third party other than itself has to be at arms-length prices, Salve argued.
RIL has invested $8 billion in the project, he told the court. Salve will continue to argue on the MOU, the documents in connection with the MOU and what is the scope of the company's jurisdiction regarding gas supply in the next hearing on August 5.
Gas production from RIL's D6 field delayed
India Reliance refinery trial runs by Sept
ONGC to invest $3 bn for exploration in KG basin
----------------------------------------
Other Top news from ET:
Tata Steel Q1 net up to Rs 1,488 cr
Inflation marginally up at 11.98 per cent
'RCom looks for global acquisitions'
Sintex buys 90 pc in German component maker
Brokers to let you trade directly
Rain Commodities under funds radar
India's top 10 asset management firms
Source:ET
Reliance Industries on Thursday informed the Bombay High Court that it would incur losses in the range of $600-900 million annually if it supplies gas to Anil Ambani-owned Reliance Natural Resources Ltd at 2.34 dollars per mmBtu. Mukesh Ambani-owned RIL told the court that it could not promise a fixed quantity of gas to RNRL at 2.34 dollars, which is much lower than the price fixed by the government at 4 dollars per mmBtu. If RIL entered into a contract to supply the fixed quantity of gas at 2.34 dollars, it would incur annual losses ranging from $600 to 900 million, RIL told the high court. Division bench of Justices J N Patel and K Tated is hearing the dispute over gas supply from the Krishna-Godavari basin between RIL and RNRL.
RIL's counsel Harish Salve argued that RNRL's power plant was not going to commence before 2010 and till then, RIL could not be restrained from extracting gas. As such, RIL could not wait for RNRL's power plant to come up and so they had to enter into gas sale purchase agreements (GSPA) with third parties. Once RNRL notified it that their plant was working, they could enter into GSPA between them.
"The country needs the gas and if we keep waiting for RNRL, the government which owns the natural resource, will take us out of contract by 2025 anyway when the lease ends," said Salve. RNRL has already given up its right on the gas for trading earlier, which they are trying to revive, he contended and added that the Gas Supply Master Agreement between RIL and RNRL specifically includes supply of gas on a suitable agreement for RNRL's power plants. Regarding supply of gas for the RNRL power plant when it comes up, the quantity can be decided in accordance with a formula considering the total resource of gas available, the tenure for which the extraction will be carried out less the share that has to be given to the government on an annual basis, Salve contended.
RNRL is entitled to 28 mmscmd of gas when the production reaches 40 mmscmd. If RNRL want to procure more in case when the production increases, it will have to purchase it at market price, he said. The GSPA has to be revised in accordance with the annual production of gas, he further said.
Also, just because RIL and RNRL are in dispute, the production sharing contract (PSC) with the government cannot be compromised, added Salve. "We are ready to give the gas at the fixed price provided the government approves such price," he said. RNRL has been citing the memorandum of understanding between the two companies regarding the fixed quantity of gas at the said price but the MOU cannot supercede the PSC with the government, he contended. Also, the government has specifically said that the prices of gas to any third party other than itself has to be at arms-length prices, Salve argued.
RIL has invested $8 billion in the project, he told the court. Salve will continue to argue on the MOU, the documents in connection with the MOU and what is the scope of the company's jurisdiction regarding gas supply in the next hearing on August 5.
Gas production from RIL's D6 field delayed
India Reliance refinery trial runs by Sept
ONGC to invest $3 bn for exploration in KG basin
----------------------------------------
Other Top news from ET:
Tata Steel Q1 net up to Rs 1,488 cr
Inflation marginally up at 11.98 per cent
'RCom looks for global acquisitions'
Sintex buys 90 pc in German component maker
Brokers to let you trade directly
Rain Commodities under funds radar
India's top 10 asset management firms
Source:ET
31 July 2008
Tata Steel Q1 standalone net up 22%,RCom Q1 profit up 24% at Rs 1,512 cr
Tata Steel Q1 net profit up 21.78% at Rs 1488.40 cr
Tata Steel Q1 standalone net up 22%
Tata Steel Q1 net climbs 21.79%
MUMBAI: Helped by higher volume and better product mix, Tata Steel has posted a forecast-beating 21.8% increase in standalone net profit at Rs 1488.40 crore for the quarter ended June 30, 2008, (Q1FY09) when compared with Rs 1,222.11 crore for the quarter ended June 30, 2007.According to an official release issued by the company to the BSE today, total income has increased to Rs 6,177.25 crore for the quarter ended June 30, 2008, from Rs 4305.33 crore for the quarter ended June 30, 2007.
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Tata Steel disclosed a small increase in its standalone net profit for the first quarter ended June 2008. During the quarter, the profit of the company rose 21.79% to Rs 14,884.00 million from Rs 12,221.10 million in the same quarter, last year.
The company reported earnings of Rs 19.94 a share during the quarter, registering 1.43% decline over previous year period.
Net sales for the quarter surged 46.87% to Rs 61,650.30 million, while total income for the quarter jumped 42.21% to Rs 61,772.50 million, when compared with the prior year period.
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RCom Q1 profit up 24% at Rs 1,512 cr
Rel Comm Q1 net profit up 0.6% at 1512 cr
RCom consolidated net rises 23.90% in Jun`08 qtr
MUMBAI: Anil Ambani group's telecom arm Reliance Communications Ltd (RCom) on Thursday posted a first quarter profit of Rs 1,512 crore, up 23.9 per cent from the same period last fiscal.
The company's revenue rose 23.7 per cent to Rs 5,322 crore. – PTI
Its net sales were up 0.2% at Rs 5322 crore versus Rs 5,311.3 crore, QoQ.
Its EBITDA margin was down at 42.3% versus 43.62%. Operating profit went down 2.88% from Rs 2316.8 crore to Rs 2250 crore.
OPM’sQ109: 42.28%Q408: 43.62%Q308: 43.21%Q208: 42.85%Q108: 42.15%
According to CNBC-TV18 estimates, Its net profit was seen up 3.63% from Rs 1502.8 crore to Rs 1557.32 crore, QoQ.
Its revenues were seen up 7.95% from Rs 5311.3 crore to Rs 5733.92 crore
Tata Steel Q1 standalone net up 22%
Tata Steel Q1 net climbs 21.79%
MUMBAI: Helped by higher volume and better product mix, Tata Steel has posted a forecast-beating 21.8% increase in standalone net profit at Rs 1488.40 crore for the quarter ended June 30, 2008, (Q1FY09) when compared with Rs 1,222.11 crore for the quarter ended June 30, 2007.According to an official release issued by the company to the BSE today, total income has increased to Rs 6,177.25 crore for the quarter ended June 30, 2008, from Rs 4305.33 crore for the quarter ended June 30, 2007.
******************
Tata Steel disclosed a small increase in its standalone net profit for the first quarter ended June 2008. During the quarter, the profit of the company rose 21.79% to Rs 14,884.00 million from Rs 12,221.10 million in the same quarter, last year.
The company reported earnings of Rs 19.94 a share during the quarter, registering 1.43% decline over previous year period.
Net sales for the quarter surged 46.87% to Rs 61,650.30 million, while total income for the quarter jumped 42.21% to Rs 61,772.50 million, when compared with the prior year period.
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RCom Q1 profit up 24% at Rs 1,512 cr
Rel Comm Q1 net profit up 0.6% at 1512 cr
RCom consolidated net rises 23.90% in Jun`08 qtr
MUMBAI: Anil Ambani group's telecom arm Reliance Communications Ltd (RCom) on Thursday posted a first quarter profit of Rs 1,512 crore, up 23.9 per cent from the same period last fiscal.
The company's revenue rose 23.7 per cent to Rs 5,322 crore. – PTI
*****
Reliance Communication has announced its first quarter results. The company's Q1 results were inline with expectations, its net profit was up 0.6% at 1512 crore versus 1502 crore, QoQ.Its net sales were up 0.2% at Rs 5322 crore versus Rs 5,311.3 crore, QoQ.
Its EBITDA margin was down at 42.3% versus 43.62%. Operating profit went down 2.88% from Rs 2316.8 crore to Rs 2250 crore.
OPM’sQ109: 42.28%Q408: 43.62%Q308: 43.21%Q208: 42.85%Q108: 42.15%
According to CNBC-TV18 estimates, Its net profit was seen up 3.63% from Rs 1502.8 crore to Rs 1557.32 crore, QoQ.
Its revenues were seen up 7.95% from Rs 5311.3 crore to Rs 5733.92 crore
*****
Reliance Communications (RCom), on consolidated basis, posted a 23.90% rise in profit after tax of Rs 15,121.50 million for the quarter ended Jun. 30, 2008 as compared to Rs 12,204.30 million for the quarter ended Jun. 30, 2007.
Total Income increased by 23.66% to Rs 53,221.70 million for the quarter ended Jun. 30, 2008 from Rs 43,037 million for the quarter ended Jun. 30, 2007.
On standalone basis, the company reported a phenomenal drop in net profit for the quarter ended June 2008. During the quarter, the profit of the company declined 58.51% to Rs 3,473.80 million from Rs 8,373.00 million in the same quarter, previous year.
The company posted earnings of Rs 1.68 a share during the quarter, registering 59.02% decline over previous year period.
Net sales for the quarter rose 10.19% to Rs 35,579.70 million, while total income for the quarter rose 10.20% to Rs 35,590.60 million, when compared with the prior year period.
Total Income increased by 23.66% to Rs 53,221.70 million for the quarter ended Jun. 30, 2008 from Rs 43,037 million for the quarter ended Jun. 30, 2007.
On standalone basis, the company reported a phenomenal drop in net profit for the quarter ended June 2008. During the quarter, the profit of the company declined 58.51% to Rs 3,473.80 million from Rs 8,373.00 million in the same quarter, previous year.
The company posted earnings of Rs 1.68 a share during the quarter, registering 59.02% decline over previous year period.
Net sales for the quarter rose 10.19% to Rs 35,579.70 million, while total income for the quarter rose 10.20% to Rs 35,590.60 million, when compared with the prior year period.
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A leading real estate developer, DLF today announced the un-audited results for the first quarter ended Jun. 30, 2008.Consolidated ResultsThe company posted a 22.99% increase in net profit of Rs 18,639.70 million for the quarter ended Jun. 30, 2008 as compared to Rs 15,154.80 million for the quarter ended Jun. 30, 2007. Total revenue increased by 23.24% to Rs 38,463.40 million for the quarter ended Jun. 30, 2008, from Rs 31,209.80 million for the quarter ended Jun. 30, 2007.
Standalone Results
The company announced a good increase in its standalone net profit for the quarter ended June 2008. During the quarter, the profit of the company rose 21.01% to Rs 7,009.90 million from Rs 5,792.70 million in the same quarter, previous year.
The company reported earnings of Rs 4.11 a share during the quarter, registering 9.02% growth over previous year period.
Net sales for the quarter rose 13.97% to Rs 12,786.10 million, while total income for the quarter rose 23.76% to Rs 14,938.60 million, when compared with the prior year period
Standalone Results
The company announced a good increase in its standalone net profit for the quarter ended June 2008. During the quarter, the profit of the company rose 21.01% to Rs 7,009.90 million from Rs 5,792.70 million in the same quarter, previous year.
The company reported earnings of Rs 4.11 a share during the quarter, registering 9.02% growth over previous year period.
Net sales for the quarter rose 13.97% to Rs 12,786.10 million, while total income for the quarter rose 23.76% to Rs 14,938.60 million, when compared with the prior year period
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National Aluminium Company (NALCO), a leading aluminum manufacturer, reported better than expected growth in its standalone net profit for the first quarter ended June 2008. During the quarter, the profit of the company climbed 17.61% to Rs 5,253.30 million from Rs 4,466.60 million in the same quarter, previous year. The analysts polled by Bloomberg had estimated earnings of Rs 4,617.50 million for the first quarter of financial year 2009.Net sales for the quarter went up 25.94% to Rs 14,674.90 million as against Rs 14,051.50 million estimated by analysts, while total income for the quarter rose 22.95% to Rs 15,937.00 million when compared with the prior year period.
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Ispat Industries, an integrated steel maker, reported a sharp rise in its standalone net profit for the first quarter ended June 2008, helped by strong sales growth coupled with substantial improvement in operating efficiency. During the quarter, the profit of the company surged 3.43 times to Rs 287.30 million from Rs 83.70 million in the same quarter, previous year. The company reported earnings of Rs 0.08 a share during the quarter compared with a loss of Rs 0.09 a share in previous year period.Net sales for the quarter surged 53.74% to Rs 27,878.10 million, while total income for the quarter jumped 54.67% to Rs 28,757.80 million, when compared with the prior year period.
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Adlabs Films disclosed a phenomenal drop in its standalone net profit for the quarter ended June 2008, hurt by higher operating cost. During the quarter, the profit of the company declined 94.86% to Rs 11.53 million from Rs 224.31 million in the same quarter, previous year.
The company posted earnings of Rs 0.25 a share during the quarter, registering 95.57% decline over previous year period.Net sales for the quarter rose 3.63 times to Rs 1,851.94 million, while total income for the quarter jumped 2.95 times to Rs 2,095.00 million, when compared with the prior year period.
The company posted earnings of Rs 0.25 a share during the quarter, registering 95.57% decline over previous year period.Net sales for the quarter rose 3.63 times to Rs 1,851.94 million, while total income for the quarter jumped 2.95 times to Rs 2,095.00 million, when compared with the prior year period.
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Source: indiaearnings,myiris,capitalmarket websites.
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