Tata can be India's Obama, says Forbes
Who could be India's Obama who could unite the country and march the nation forward at a traumatic time?
US business magazine Forbes feels it is industry captain Ratan Tata.
"While it (India) has the sympathy of the world (after the recent attacks), India could have an Obama moment -- one in which a leader, whose personal history epitomises the country's principles, marches forward to unite the country during its very moment of trauma. India has a chance now to get it right, but it needs a strong, credible leader to step up," Forbes said in a report.
"As an American, I don't get a vote in India, but if I did, mine would go to Ratan Tata," added the report written by Forbes magazine' Senior Editor (Asia) Robyn Meredith.
"He is not a politician, but he is the country's most respected business leader. His Tata Group owns the Taj hotel that was just attacked, but his family is just as connected to India's proud history as its shell-shocked present," Meredith wrote in a weekly column published online.
Posing the question whether should there be not a way to involve Tata at the highest level in the government, the report noted that "a fractured India" would immensely benefit from his acumen and constructive patriotism.
Meredith pointed out, "Should there not be a way to involve him in government at the highest level? A fractured India would benefit immeasurably from his acumen, his managerial skills, and his very obvious--but always constructive--patriotism."
Wondering what if the nation leapfrogged America's approach, the magazine pointed out that the political leap could be as successful as the country's technology jump.
"In a few short years, technology allowed India to go from a land with a 10-year-wait for a telephone to one where even farmers carry cell phones. India could make a political leap that is as successful as its technology jump," Forbes said.
Taj Hotel, the prime target of Mumbai terror attacks was the dream realised by Jamsetji Tata. It came up on the city's water front, after a British-owned hotel denied Jamsetji Tata entry, just because "he was not white".
Writing on the hotel, which was built much before the 'Gateway of India' came into existence, the report said, "It opened just over a century ago and was the first Indian-owned luxury hotel. That is why the attack on that hotel resonates so strongly: The Taj hotel was a symbol of all that post-colonial India could become -- successful, honourable, dignified, strong and admired the world over."
Noting that India is at the crossroads, the magazine said that the nation can "turn to past enemies, to yesterday's memories, or it can look to the future and new hopes that could unite the nation's Hindus and Muslims."
Source:Rediff
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05 December 2008
The Great Indian bailout...
The Great Indian bailout!
Prime minister Manmohan Singh's diagnosis of, and remedy for, the economic slowdown isn't too off-the-mark. I think we are in a typical Keynesian situation where there is a lack of demand private sector demand is very weak but, strong government demand, both for social services and for physical infrastructure, will provide the essential stabilisers that our country needs at a time like this, he had declared on October 25. Yet, the antidote has few buyers.
It's easy to see why. Even as Singh spoke, Finance Minister P. Chidambaram was preparing to beseech Parliament for funds over and above budgetary allocations to pay salaries and bills. He wanted and got additional sums that add up to a third of the total Budget he had piloted through Parliament only in May this year. Government spending has overshot Chidambaram's estimates mainly on subsidies and rural wage programmes (see Budget Busters). Such largesse to the aam aadmi has dominated the UPA government's spending agenda since it took office in May 2004. So far this year, the Centre has pumped in more than Rs 1,340,000 crore into rural development (about half of resident Indians' bank deposits), inflating its fiscal deficit by 26 per cent over its last year's level. It can be taken for granted that the fiscal deficit this year will miss the target, says Suresh Tendulkar, Chairman of the Economic Advisory Council to the Prime Minister.
The global economic crisis is the Government's excuse for overshooting the deficit target. So what if our deficit settles at 3.2 per cent instead of 3 per cent? If the target is breached by a few decimal points, so be it, because there is a global financial crisis and we are suffering the ripple effects of this crisis, Chidambaram told the Rajya Sabha on October 29. He employed this year's Nobel winner for economics, Paul Krugman's tip, this is no time to talk about the deficit , in the Government's defence, following a scathing attack from former Finance Minister Yashwant Sinha on the demand for supplementary funds.
The Finance Minister's defence will be credible if he can turn the deficit into an antidote for the current economic downturn. Investment, the key driver of economic growth, is slowing down after an average rate of growth of 18 per cent in the past five years due to which the Reserve Bank of India (RBI) has forecast GDP growth at 7.5-8 per cent this year. The volatile cost and non-availability of credit is further slowing down projects. In such a scenario, public expenditure the one that boosts productive spending will pump prime the economy.
Injecting moneySix major heads of government spending and their likely impact.
Rs 25,000 crore on Farm Loans Waiver Has offset the dampening effect on rural consumption by cushioning agricultural incomes with waivers amounting to Rs 72,000 crore
Rs 38,863 crore on Fertiliser Subsidies Has protected farm incomes; the huge fuel subsidies, which the government doesn't pay in cash, are protecting urban, rural and middle class incomes and consumption
Rs 1,274,474 crore on the NREGS Has boosted rural incomes and consumption and is creating demand for construction materials. Total funds available with states as on October 31 were: Rs 1,976,9890 crore; of which states have spent 65% or Rs 1,274,473 crore
Including: 70% on wages: Rs 898,216 crore for 7.8 million households or 12.5 million people 4% on semi-skilled and skilled wages: Rs 45,359 crore 23% on materials: Rs 287,615 crore 3% on administration: Rs 43,283 crore
Rs 29,579 crore on Rural Development Has boosted village incomes and fuelled demand for construction materials
Rs 3,862 crore on Road Infrastructure Is generating demand for construction materials.
Government spending can help or hurt private investment. The best kind of government spending is one that aids both asset creation and income generation. Such spending, even if financed by higher than targeted deficit, encourages (crowds in) private investment. However, a deficit, especially that does not lead to asset creation, can also hamper (crowd out) private investment and therefore stoke inflation. Only government expenditures designed to boost productive investments to offset the slowdown will pump prime the economy and exonerate finance ministers around the globe for rising fiscal deficits.
It's not that there are no large dollops of public expenditure taking place. The Rs 1,275,000-crore National Rural Employment Guarantee Scheme (NREGS), the Rs 25,000 crore on the farm loan waiver scheme and the Rs 25,000-crore largesse announced by the Sixth Pay Commission (SPC) for central government employees will all put significant sums of money into rural and urban consumer wallets. But all these spending programmes were well underway before the global financial crisis hit hard. The spending, ranging from the farm loan waiver to the SPC, and its growth effects were factored in by the government in February, when it presented the Budget... just that the government had not included any of it in its accounting at that time and they were all referred to as 'below the line', says Rohini Malkani, Economist, Citigroup India.
Much of the pump priming impact of these programmes has already been absorbed by the economy. And given the rising deficit, the government has little additional money to fund a New Deal -kind of project. Of course, government can simply borrow more to fund new programmes, but given the shortage of funds in the financial system, a stepped-up government borrowing will dry up funds (or raise the cost) for private sector a situation government is trying to avert. It's not that government spending hasn't helped create demand. The question is whether the demand creation is adequate and more importantly, if the demand and asset creation is proportional to the money spent on these programmes. The sporadic effects of government-led demand creation are evident.
More @The Great Indian bailout!
------------------------------------------
Inflation rate declines to 8.40%
Petrol price may be cut by Rs 10
Sensex
Mumbai still an investor hot-spot
Source:Sify,Rediff
Prime minister Manmohan Singh's diagnosis of, and remedy for, the economic slowdown isn't too off-the-mark. I think we are in a typical Keynesian situation where there is a lack of demand private sector demand is very weak but, strong government demand, both for social services and for physical infrastructure, will provide the essential stabilisers that our country needs at a time like this, he had declared on October 25. Yet, the antidote has few buyers.
It's easy to see why. Even as Singh spoke, Finance Minister P. Chidambaram was preparing to beseech Parliament for funds over and above budgetary allocations to pay salaries and bills. He wanted and got additional sums that add up to a third of the total Budget he had piloted through Parliament only in May this year. Government spending has overshot Chidambaram's estimates mainly on subsidies and rural wage programmes (see Budget Busters). Such largesse to the aam aadmi has dominated the UPA government's spending agenda since it took office in May 2004. So far this year, the Centre has pumped in more than Rs 1,340,000 crore into rural development (about half of resident Indians' bank deposits), inflating its fiscal deficit by 26 per cent over its last year's level. It can be taken for granted that the fiscal deficit this year will miss the target, says Suresh Tendulkar, Chairman of the Economic Advisory Council to the Prime Minister.
The global economic crisis is the Government's excuse for overshooting the deficit target. So what if our deficit settles at 3.2 per cent instead of 3 per cent? If the target is breached by a few decimal points, so be it, because there is a global financial crisis and we are suffering the ripple effects of this crisis, Chidambaram told the Rajya Sabha on October 29. He employed this year's Nobel winner for economics, Paul Krugman's tip, this is no time to talk about the deficit , in the Government's defence, following a scathing attack from former Finance Minister Yashwant Sinha on the demand for supplementary funds.
The Finance Minister's defence will be credible if he can turn the deficit into an antidote for the current economic downturn. Investment, the key driver of economic growth, is slowing down after an average rate of growth of 18 per cent in the past five years due to which the Reserve Bank of India (RBI) has forecast GDP growth at 7.5-8 per cent this year. The volatile cost and non-availability of credit is further slowing down projects. In such a scenario, public expenditure the one that boosts productive spending will pump prime the economy.
Injecting moneySix major heads of government spending and their likely impact.
Rs 25,000 crore on Farm Loans Waiver Has offset the dampening effect on rural consumption by cushioning agricultural incomes with waivers amounting to Rs 72,000 crore
Rs 38,863 crore on Fertiliser Subsidies Has protected farm incomes; the huge fuel subsidies, which the government doesn't pay in cash, are protecting urban, rural and middle class incomes and consumption
Rs 1,274,474 crore on the NREGS Has boosted rural incomes and consumption and is creating demand for construction materials. Total funds available with states as on October 31 were: Rs 1,976,9890 crore; of which states have spent 65% or Rs 1,274,473 crore
Including: 70% on wages: Rs 898,216 crore for 7.8 million households or 12.5 million people 4% on semi-skilled and skilled wages: Rs 45,359 crore 23% on materials: Rs 287,615 crore 3% on administration: Rs 43,283 crore
Rs 29,579 crore on Rural Development Has boosted village incomes and fuelled demand for construction materials
Rs 3,862 crore on Road Infrastructure Is generating demand for construction materials.
Government spending can help or hurt private investment. The best kind of government spending is one that aids both asset creation and income generation. Such spending, even if financed by higher than targeted deficit, encourages (crowds in) private investment. However, a deficit, especially that does not lead to asset creation, can also hamper (crowd out) private investment and therefore stoke inflation. Only government expenditures designed to boost productive investments to offset the slowdown will pump prime the economy and exonerate finance ministers around the globe for rising fiscal deficits.
It's not that there are no large dollops of public expenditure taking place. The Rs 1,275,000-crore National Rural Employment Guarantee Scheme (NREGS), the Rs 25,000 crore on the farm loan waiver scheme and the Rs 25,000-crore largesse announced by the Sixth Pay Commission (SPC) for central government employees will all put significant sums of money into rural and urban consumer wallets. But all these spending programmes were well underway before the global financial crisis hit hard. The spending, ranging from the farm loan waiver to the SPC, and its growth effects were factored in by the government in February, when it presented the Budget... just that the government had not included any of it in its accounting at that time and they were all referred to as 'below the line', says Rohini Malkani, Economist, Citigroup India.
Much of the pump priming impact of these programmes has already been absorbed by the economy. And given the rising deficit, the government has little additional money to fund a New Deal -kind of project. Of course, government can simply borrow more to fund new programmes, but given the shortage of funds in the financial system, a stepped-up government borrowing will dry up funds (or raise the cost) for private sector a situation government is trying to avert. It's not that government spending hasn't helped create demand. The question is whether the demand creation is adequate and more importantly, if the demand and asset creation is proportional to the money spent on these programmes. The sporadic effects of government-led demand creation are evident.
More @The Great Indian bailout!
------------------------------------------
Inflation rate declines to 8.40%
Petrol price may be cut by Rs 10
Sensex
Mumbai still an investor hot-spot
Source:Sify,Rediff
03 December 2008
Revision of Market Lot of Derivative Contracts
Revision of Market Lot of Derivative Contracts
NSE/FAOP/11720
December 02, 2008
Subject: Revision of Market Lot of Derivative Contracts
Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR-20/2004/02/23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:
To avoid operational complexities, in case 2 above, only the far month contract i.e. March 2009 expiry contracts will be revised for market lots. Contracts with maturity of January 2009 and February 2009 would continue to have the existing market lots. All subsequent contracts (i.e., March 2009 expiry and beyond) will have revised market lots.
For any clarifications, members are advised to contact the following officials:
Mr. Sachin Dhar and Mr. Janardhan Gujaran at 26598151 or 26598152
Yours faithfully,
For National Stock Exchange of India Ltd.
T S Jagadharini
Vice President
==================================
http://www.nseindia.com/content/circulars/faop11720.htm
S.No. Underlying Symbol Present Market Lot Revised Market Lot
1 3I Infotech Ltd. 3IINFOTECH 2700 10800
2 Aban Offshore Ltd. 50 400
3 ABB Ltd. ABB 250 500
4 ABG Shipyard Ltd. ABGSHIP 550 3300
5 Aditya Birla Nuvo Ltd. ABIRLANUVO 200 400
6 Associated Cement Co. Ltd. ACC 188 752
7 Adlabs Films Ltd. ADLABSFILM 225 1800
8 Akruti City Ltd. AKRUTI 300 600
9 Allahabad Bank ALBK 2450 4900
10 Alok Industries Ltd. ALOKTEXT
11
Ambuja Cements Ltd.
AMBUJACEM
2062
4124
12 Amtek Auto Ltd. AMTEKAUTO 600 4800
13 Andhra Bank ANDHRABANK 2300 4600
14 Ansal Prop & Infra Ltd. ANSALINFRA 1300 10400
15 Alstom Projects India Ltd. APIL 200 1200
16 Aptech Ltd. APTECHT 650 3900
17 Arvind Ltd. ARVIND 4300 17200
18 Ashok Leyland Ltd. ASHOKLEY 4775 19100
19 Asian Paints Ltd. ASIANPAINT 200 400
20 Aurobindo Pharma Ltd. AUROPHARMA 700 2800
21 Axis Bank Ltd. AXISBANK 225 900
22 Bajaj Auto Ltd. BAJAJ-AUTO 200 800
23 Bajaj Hindustan Ltd. BAJAJHIND 950 5700
24 Bajaj Holdings & Investment Limited BAJAJHLDNG 250 1000
25 Balaji Telefilms Ltd. BALAJITELE 1250 5000
26 Ballarpur Industries Ltd. BALLARPUR 7300 14600
27 Balrampur Chini Mills Ltd. BALRAMCHIN 2400 9600
28
Bank of Baroda
BANKBARODA
700
1400
29
Bank Nifty
BANKNIFTY
25
50
30
Bata India Ltd.
BATAINDIA
1050
4200
31
Bharat Electronics Ltd.
BEL
138
552
32
Bharat Earth Movers Ltd.
BEML
125
750
33
Bharat Forge Co Ltd.
BHARATFORG
1000
4000
34
Bharti Airtel Ltd.
BHARTIARTL
250
500
35
Bharat Heavy Electricals Ltd.
BHEL
75
300
36
Bhushan Steel & Strips Ltd.
BHUSANSTL
250
1000
37
Oswal Chem. & Fert. Ltd.
BINDALAGRO
4950
29700
38
Biocon Ltd.
BIOCON
900
3600
39
Birla Corporation Ltd.
BIRLACORPN
850
3400
40
Bombay Dyeing & Mfg. Co Ltd.
BOMDYEING
300
1800
41
Bongaigaon Refinery Ltd.
BONGAIREFN
2250
9000
42
Bosch Limited
BOSCHLTD
50
100
43
Bharat Petroleum Corporation Ltd.
BPCL
550
1100
44
Bombay Rayon Fashions Ltd.
BRFL
1150
2300
45
Brigade Enterprises Ltd.
BRIGADE
550
5500
46
Cairn India Ltd.
CAIRN
1250
2500
47
Canara Bank
CANBK
800
1600
48
Central Bank of India
CENTRALBK
2000
8000
49
Century Textiles Ltd.
CENTURYTEX
212
1696
50
CESC Ltd.
CESC
550
1100
51
Chambal Fertilizers Ltd.
CHAMBLFERT
3450
6900
52
Chennai Petroleum Corporation Ltd.
CHENNPETRO
900
3600
53
CMC Ltd.
CMC
200
800
54
CNX 100
CNX100
50
100
55
CNX IT
CNXIT
50
100
56
Container Corporation Of India Ltd.
CONCOR
250
500
57
Core Projects And Technologies Ltd.
COREPROTEC
750
6000
58
Corporation Bank
CORPBANK
600
1200
59
Crompton Greaves Ltd.
CROMPGREAV
500
2000
60
Cummins India Ltd.
CUMMINSIND
475
1900
61
Develop Credit Bank Ltd.
DCB
1400
14000
62
Deccan Chronicle Holdings Ltd.
DCHL
1700
6800
63
Dena Bank
DENABANK
2625
10500
64
Dish TV India Ltd.
DISHTV
5150
20600
65
Divi's Laboratories Ltd.
DIVISLAB
155
310
66
DLF Ltd.
DLF
400
1600
67
Dr. Reddy's Laboratories Ltd.
DRREDDY
400
800
68
Edelweiss Capital Ltd.
EDELWEISS
250
1000
69
Educomp Solutions Ltd.
EDUCOMP
75
150
70
Everest Kanto Cylinder Ltd.
EKC
1000
2000
71
Escorts India Ltd.
ESCORTS
2400
9600
72
Essar Oil Ltd.
ESSAROIL
1412
2824
73
Everonn Systems India Ltd.
EVERONN
400
800
74
Federal Bank Ltd.
FEDERALBNK
851
1702
75
Financial Technologies (I) Ltd.
FINANTECH
150
600
76
Firstsource Solutions Ltd.
FSL
4750
19000
77
Gateway Distriparks Ltd.
GDL
2500
5000
78
The Great Eastern Shipping Co. Ltd.
GESHIP
600
2400
79
Gitanjali Gems Ltd.
GITANJALI
500
4000
80
GMR Infrastructure Ltd.
GMRINFRA
1250
5000
81
Gujarat Narmada Fertilizer Co. Ltd.
GNFC
1475
5900
82
Grasim Industries Ltd.
GRASIM
88
352
83
Gujarat State Petronet Ltd.
GSPL
3050
12200
84
GTL Ltd.
GTL
750
1500
85
GTL Infrastructure Ltd.
GTLINFRA
4850
9700
86
Great Offshore Ltd.
GTOFFSHORE
250
1000
87
Gujarat Alkalies & Chemicals Ltd.
GUJALKALI
1400
5600
88
GVK Power & Infrastructure Ltd.
GVKPIL
4750
19000
89
Havells India Ltd.
HAVELLS
400
2400
90
Hindustan Construction Co. Ltd.
HCC
1400
8400
91
HCL Infosystems Ltd.
HCL-INSYS
1700
3400
92
HCL Technologies Ltd.
HCLTECH
650
2600
93
Housing Development Finance Corporation Ltd.
HDFC
75
150
94
HDFC Bank Ltd.
HDFCBANK
200
400
95
Housing Development and Infrastructure Ltd.
HDIL
516
3096
96
Hindalco Industries Ltd.
HINDALCO
1759
7036
97
Hindustan Oil Exploration Ltd.
HINDOILEXP
1600
6400
98
Hindustan Zinc Ltd.
HINDZINC
250
1000
99
Hotel Leela Ventures Ltd.
HOTELEELA
3750
15000
100
IBN18 Broadcast Ltd.
IBN18
1250
2500
101
Indiabulls Real Estate Ltd.
IBREALEST
650
2600
102
ICICI Bank Ltd.
ICICIBANK
175
700
103
ICSA (India) Ltd.
ICSA
600
2400
104
Industrial Development Bank of India Ltd.
IDBI
1200
4800
105
Idea Cellular Ltd.
IDEA
2700
5400
106
Infrastructure Development Finance Company Ltd.
IDFC
1475
5900
107
IFCI Ltd.
IFCI
1970
15760
108
Indian Hotels Co. Ltd.
INDHOTEL
1899
7596
109
India Cements Ltd.
INDIACEM
725
2900
110
India Infoline Ltd.
INDIAINFO
1250
5000
111
Indian Bank
INDIANB
1100
2200
112
Indusind Bank Ltd.
INDUSINDBK
1925
7700
113
Indian Overseas Bank
IOB
1475
5900
114
IRB Infrastructure Developers Ltd.
IRB
1100
4400
115
Ispat Industries Ltd.
ISPATIND
4150
24900
116
ITC Ltd.
ITC
1125
2250
117
IVRCL Infrastructure & Projects Ltd.
IVRCLINFRA
500
2000
118
IVR Prime Urban Developers Ltd.
IVRPRIME
800
8000
119
The Jammu & Kashmir Bank Ltd.
J&KBANK
300
1200
120
Jet Airways (India) Ltd.
JETAIRWAYS
400
2400
121
Jindal Saw Ltd.
JINDALSAW
250
1000
122
Jindal Steel & Power Ltd.
JINDALSTEL
160
320
123
Jaiprakash Associates Ltd.
JPASSOCIAT
750
4500
124
Jaiprakash Hydro-Power Ltd.
JPHYDRO
3125
12500
125
JSL Ltd.
JSL
1000
8000
126
JSW Steel Ltd.
JSWSTEEL
275
1650
127
CNX NIFTY JUNIOR
JUNIOR
25
100
128
Kesoram Industries Ltd.
KESORAMIND
500
2000
129
Kingfisher Airlines Ltd.
KFA
850
8500
130
Kotak Mahindra Bank Ltd.
KOTAKBANK
275
1100
131
KSK Energy Ventures Limited
KSK
850
1700
132
K S Oils Ltd.
KSOILS
2950
5900
133
The Karnataka Bank Ltd.
KTKBANK
1250
5000
134
Lakshmi Machines Ltd.
LAXMIMACH
100
400
135
LIC Housing Finance Ltd.
LICHSGFIN
850
1700
136
Lanco Infratech Ltd.
LITL
425
2550
137
Larsen & Toubro Ltd.
LT
100
400
138
Mahindra & Mahindra Ltd.
M&M
312
1248
139
Mahindra Lifespace Developers Ltd.
MAHLIFE
350
1400
140
Maharashtra Seamless Ltd.
MAHSEAMLES
600
2400
141
Maruti Suzuki India Ltd.
MARUTI
200
800
142
Matrix Laboratories Ltd.
MATRIXLABS
1250
5000
143
United Spirits Ltd.
MCDOWELL-N
125
250
144
Mindtree Ltd.
MINDTREE
600
1200
145
Mercator Lines Ltd.
MLL
2450
9800
146
Monnet Ispat Ltd.
MONNETISPA
450
1800
147
Moser-Baer (I) Ltd.
MOSERBAER
825
4950
148
Mphasis Ltd.
MPHASIS
800
1600
149
MRF Ltd.
MRF
100
200
150
Mangalore Refinery and Petrochemicals Ltd.
MRPL
2225
8900
151
Mahanagar Telephone Nigam Ltd.
MTNL
1600
3200
152
Nagarjuna Constrn. Co. Ltd.
NAGARCONST
1000
4000
153
Nagarjuna Fertiliser & Chemicals Ltd.
NAGARFERT
3500
21000
154
National Aluminium Co. Ltd.
NATIONALUM
575
2300
155
Nava Bharat Ventures Ltd.
NBVENTURES
800
3200
156
New Delhi Television Ltd.
NDTV
550
3300
157
Network 18 Fincap Ltd.
NETWORK18
500
2000
158
Neyveli Lignite Corporation Ltd.
NEYVELILIG
1475
5900
159
Nifty Midcap 50
NFTYMCAP50
75
300
160
NIIT Ltd.
NIITLTD
1450
8700
161
NIIT Technologies Ltd.
NIITTECH
1200
4800
162
Noida Toll Bridge Company Ltd.
NOIDATOLL
4100
16400
163
Oracle Financial Services Software Limited.
OFSS
150
600
164
Oil & Natural Gas Corp. Ltd.
ONGC
225
450
165
Opto Circuits (India) Ltd.
OPTOCIRCUI
1020
4080
166
Orbit Corporation Ltd.
ORBITCORP
750
6000
167
Orchid Chemicals Ltd.
ORCHIDCHEM
1050
4200
168
Oriental Bank of Commerce
ORIENTBANK
1200
2400
169
Pantaloon Retail (I) Ltd.
PANTALOONR
850
1700
170
Parsvnath Developers Ltd.
PARSVNATH
700
7000
171
Patel Engineering Ltd.
PATELENG
250
2000
172
Patni Computer Systems Ltd.
PATNI
650
2600
173
Peninsula Land Ltd.
PENINLAND
2750
16500
174
Petronet LNG Ltd.
PETRONET
2200
8800
175
Power Finance Corporation Ltd.
PFC
1200
2400
176
Piramal Healthcare Ltd.
PIRHEALTH
750
1500
177
Polaris Software Lab Ltd.
POLARIS
2800
5600
178
Power Grid Corporation of India Ltd.
POWERGRID
1925
3850
179
Praj Industries Ltd.
PRAJIND
1100
4400
180
Prism Cement Ltd.
PRISMCEM
5550
22200
181
PTC India Ltd.
PTC
2350
4700
182
Punj Lloyd Ltd.
PUNJLLOYD
750
1500
183
Puravankara Projects Ltd.
PURVA
500
7000
184
Rajesh Exports Ltd.
RAJESHEXPO
1650
9900
185
Ranbaxy Laboratories Ltd.
RANBAXY
800
1600
186
Reliance Communications Ltd.
RCOM
350
1400
187
Rural Electrification Corporation Ltd
RECLTD
1950
3900
188
Reliance Capital Ltd.
RELCAPITAL
138
552
189
Reliance Industries Ltd.
RELIANCE
75
300
190
Reliance Infrastructure Ltd.
RELINFRA
138
552
191
Reliance Industrial Infrastructure Ltd.
RIIL
200
800
192
Reliance Natural Resource Ltd.
RNRL
1788
7152
193
Rolta India Ltd.
ROLTA
900
1800
194
Reliance Petroleum Ltd.
RPL
1675
3350
195
Reliance Power Ltd.
RPOWER
500
2000
196
Steel Authority of India Ltd.
SAIL
1350
5400
197
Satyam Computer Services Ltd.
SATYAMCOMP
600
1200
198
State Bank of India
SBIN
132
264
199
Shipping Corporation of India Ltd.
SCI
1200
4800
200
Sesa Goa Ltd.
SESAGOA
1500
3000
201
Siemens Ltd.
SIEMENS
376
1504
202
Sintex Industries Ltd.
SINTEX
700
1400
203
S Kumars Nationwide Ltd.
SKUMARSYNF
1900
11400
204
Sobha Developers Ltd.
SOBHA
350
2800
205
SREI Infrastructure Finance Ltd.
SREINTFIN
1750
7000
206
SRF Ltd.
SRF
1500
3000
207
Strides Arcolab Ltd.
STAR
850
3400
208
Sterlite Industries (I) Ltd.
STER
219
876
209
Sterlite Technologies Ltd.
STRTECH
1050
6300
210
Sun TV Network Ltd.
SUNTV
1000
2000
211
Suzlon Energy Ltd.
SUZLON
1000
6000
212
Syndicate Bank
SYNDIBANK
1900
3800
213
Tata Chemicals Ltd.
TATACHEM
675
2700
214
Tata Communications Ltd
TATACOMM
525
1050
215
Tata Motors Ltd.
TATAMOTORS
425
1700
216
Tata Power Co. Ltd.
TATAPOWER
200
400
217
Tata Steel Ltd.
TATASTEEL
382
1528
218
Tata Tea Ltd.
TATATEA
275
550
219
Tata Consultancy Services Ltd.
TCS
250
500
220
Tech Mahindra Ltd.
TECHM
200
1200
221
Thermax Ltd.
THERMAX
450
1800
222
Titan Industries Ltd.
TITAN
206
412
223
Torrent Power Ltd.
TORNTPOWER
1700
3400
224
Triveni Engg. & Inds. Ltd.
TRIVENI
1925
7700
225
Tata Teleservices (M) Ltd.
TTML
5225
10450
226
Tulip IT Services Ltd.
TULIP
250
1000
227
Television Eighteen India Ltd.
TV-18
850
3400
228
TVS Motor Company Ltd.
TVSMOTOR
2950
11800
229
UCO Bank
UCOBANK
5000
10000
230
Ultratech Cement Ltd.
ULTRACEMCO
400
800
231
United Phosphorous Ltd.
UNIPHOS
1400
2800
232
Unitech Ltd.
UNITECH
900
9000
233
UTV Software Communications Ltd.
UTVSOF
300
1200
234
Vijaya Bank
VIJAYABANK
3450
6900
235
Voltamp Transformers Ltd.
VOLTAMP
250
1000
236
Voltas Ltd.
VOLTAS
900
5400
237
Walchandnagar Industries Ltd.
WALCHANNAG
700
2800
238
Welspun Gujarat Stahl Rohren Ltd.
WELGUJ
800
3200
239
Wipro Ltd.
WIPRO
600
1200
240
Wockhardt Ltd.
WOCKPHARMA
600
2400
241
Wire & Wireless (I) Ltd.
WWIL
3150
25200
242
Yes Bank Ltd.
YESBANK
1100
4400
243
Zee Entertainment Enterprises Ltd.
ZEEL
700
2800
NSE/FAOP/11720
December 02, 2008
Subject: Revision of Market Lot of Derivative Contracts
Exchange reviews on a periodic basis the contract size/value of derivative contracts based on prescribed minimum value of INR 200,000 as per SEBI circular no. SEBI/DNPD/CIR-20/2004/02/23 dated February 23, 2004. It is proposed to carry out revision of market lots for derivatives contract as given below:
To avoid operational complexities, in case 2 above, only the far month contract i.e. March 2009 expiry contracts will be revised for market lots. Contracts with maturity of January 2009 and February 2009 would continue to have the existing market lots. All subsequent contracts (i.e., March 2009 expiry and beyond) will have revised market lots.
For any clarifications, members are advised to contact the following officials:
Mr. Sachin Dhar and Mr. Janardhan Gujaran at 26598151 or 26598152
Yours faithfully,
For National Stock Exchange of India Ltd.
T S Jagadharini
Vice President
==================================
http://www.nseindia.com/content/circulars/faop11720.htm
S.No. Underlying Symbol Present Market Lot Revised Market Lot
1 3I Infotech Ltd. 3IINFOTECH 2700 10800
2 Aban Offshore Ltd. 50 400
3 ABB Ltd. ABB 250 500
4 ABG Shipyard Ltd. ABGSHIP 550 3300
5 Aditya Birla Nuvo Ltd. ABIRLANUVO 200 400
6 Associated Cement Co. Ltd. ACC 188 752
7 Adlabs Films Ltd. ADLABSFILM 225 1800
8 Akruti City Ltd. AKRUTI 300 600
9 Allahabad Bank ALBK 2450 4900
10 Alok Industries Ltd. ALOKTEXT
11
Ambuja Cements Ltd.
AMBUJACEM
2062
4124
12 Amtek Auto Ltd. AMTEKAUTO 600 4800
13 Andhra Bank ANDHRABANK 2300 4600
14 Ansal Prop & Infra Ltd. ANSALINFRA 1300 10400
15 Alstom Projects India Ltd. APIL 200 1200
16 Aptech Ltd. APTECHT 650 3900
17 Arvind Ltd. ARVIND 4300 17200
18 Ashok Leyland Ltd. ASHOKLEY 4775 19100
19 Asian Paints Ltd. ASIANPAINT 200 400
20 Aurobindo Pharma Ltd. AUROPHARMA 700 2800
21 Axis Bank Ltd. AXISBANK 225 900
22 Bajaj Auto Ltd. BAJAJ-AUTO 200 800
23 Bajaj Hindustan Ltd. BAJAJHIND 950 5700
24 Bajaj Holdings & Investment Limited BAJAJHLDNG 250 1000
25 Balaji Telefilms Ltd. BALAJITELE 1250 5000
26 Ballarpur Industries Ltd. BALLARPUR 7300 14600
27 Balrampur Chini Mills Ltd. BALRAMCHIN 2400 9600
28
Bank of Baroda
BANKBARODA
700
1400
29
Bank Nifty
BANKNIFTY
25
50
30
Bata India Ltd.
BATAINDIA
1050
4200
31
Bharat Electronics Ltd.
BEL
138
552
32
Bharat Earth Movers Ltd.
BEML
125
750
33
Bharat Forge Co Ltd.
BHARATFORG
1000
4000
34
Bharti Airtel Ltd.
BHARTIARTL
250
500
35
Bharat Heavy Electricals Ltd.
BHEL
75
300
36
Bhushan Steel & Strips Ltd.
BHUSANSTL
250
1000
37
Oswal Chem. & Fert. Ltd.
BINDALAGRO
4950
29700
38
Biocon Ltd.
BIOCON
900
3600
39
Birla Corporation Ltd.
BIRLACORPN
850
3400
40
Bombay Dyeing & Mfg. Co Ltd.
BOMDYEING
300
1800
41
Bongaigaon Refinery Ltd.
BONGAIREFN
2250
9000
42
Bosch Limited
BOSCHLTD
50
100
43
Bharat Petroleum Corporation Ltd.
BPCL
550
1100
44
Bombay Rayon Fashions Ltd.
BRFL
1150
2300
45
Brigade Enterprises Ltd.
BRIGADE
550
5500
46
Cairn India Ltd.
CAIRN
1250
2500
47
Canara Bank
CANBK
800
1600
48
Central Bank of India
CENTRALBK
2000
8000
49
Century Textiles Ltd.
CENTURYTEX
212
1696
50
CESC Ltd.
CESC
550
1100
51
Chambal Fertilizers Ltd.
CHAMBLFERT
3450
6900
52
Chennai Petroleum Corporation Ltd.
CHENNPETRO
900
3600
53
CMC Ltd.
CMC
200
800
54
CNX 100
CNX100
50
100
55
CNX IT
CNXIT
50
100
56
Container Corporation Of India Ltd.
CONCOR
250
500
57
Core Projects And Technologies Ltd.
COREPROTEC
750
6000
58
Corporation Bank
CORPBANK
600
1200
59
Crompton Greaves Ltd.
CROMPGREAV
500
2000
60
Cummins India Ltd.
CUMMINSIND
475
1900
61
Develop Credit Bank Ltd.
DCB
1400
14000
62
Deccan Chronicle Holdings Ltd.
DCHL
1700
6800
63
Dena Bank
DENABANK
2625
10500
64
Dish TV India Ltd.
DISHTV
5150
20600
65
Divi's Laboratories Ltd.
DIVISLAB
155
310
66
DLF Ltd.
DLF
400
1600
67
Dr. Reddy's Laboratories Ltd.
DRREDDY
400
800
68
Edelweiss Capital Ltd.
EDELWEISS
250
1000
69
Educomp Solutions Ltd.
EDUCOMP
75
150
70
Everest Kanto Cylinder Ltd.
EKC
1000
2000
71
Escorts India Ltd.
ESCORTS
2400
9600
72
Essar Oil Ltd.
ESSAROIL
1412
2824
73
Everonn Systems India Ltd.
EVERONN
400
800
74
Federal Bank Ltd.
FEDERALBNK
851
1702
75
Financial Technologies (I) Ltd.
FINANTECH
150
600
76
Firstsource Solutions Ltd.
FSL
4750
19000
77
Gateway Distriparks Ltd.
GDL
2500
5000
78
The Great Eastern Shipping Co. Ltd.
GESHIP
600
2400
79
Gitanjali Gems Ltd.
GITANJALI
500
4000
80
GMR Infrastructure Ltd.
GMRINFRA
1250
5000
81
Gujarat Narmada Fertilizer Co. Ltd.
GNFC
1475
5900
82
Grasim Industries Ltd.
GRASIM
88
352
83
Gujarat State Petronet Ltd.
GSPL
3050
12200
84
GTL Ltd.
GTL
750
1500
85
GTL Infrastructure Ltd.
GTLINFRA
4850
9700
86
Great Offshore Ltd.
GTOFFSHORE
250
1000
87
Gujarat Alkalies & Chemicals Ltd.
GUJALKALI
1400
5600
88
GVK Power & Infrastructure Ltd.
GVKPIL
4750
19000
89
Havells India Ltd.
HAVELLS
400
2400
90
Hindustan Construction Co. Ltd.
HCC
1400
8400
91
HCL Infosystems Ltd.
HCL-INSYS
1700
3400
92
HCL Technologies Ltd.
HCLTECH
650
2600
93
Housing Development Finance Corporation Ltd.
HDFC
75
150
94
HDFC Bank Ltd.
HDFCBANK
200
400
95
Housing Development and Infrastructure Ltd.
HDIL
516
3096
96
Hindalco Industries Ltd.
HINDALCO
1759
7036
97
Hindustan Oil Exploration Ltd.
HINDOILEXP
1600
6400
98
Hindustan Zinc Ltd.
HINDZINC
250
1000
99
Hotel Leela Ventures Ltd.
HOTELEELA
3750
15000
100
IBN18 Broadcast Ltd.
IBN18
1250
2500
101
Indiabulls Real Estate Ltd.
IBREALEST
650
2600
102
ICICI Bank Ltd.
ICICIBANK
175
700
103
ICSA (India) Ltd.
ICSA
600
2400
104
Industrial Development Bank of India Ltd.
IDBI
1200
4800
105
Idea Cellular Ltd.
IDEA
2700
5400
106
Infrastructure Development Finance Company Ltd.
IDFC
1475
5900
107
IFCI Ltd.
IFCI
1970
15760
108
Indian Hotels Co. Ltd.
INDHOTEL
1899
7596
109
India Cements Ltd.
INDIACEM
725
2900
110
India Infoline Ltd.
INDIAINFO
1250
5000
111
Indian Bank
INDIANB
1100
2200
112
Indusind Bank Ltd.
INDUSINDBK
1925
7700
113
Indian Overseas Bank
IOB
1475
5900
114
IRB Infrastructure Developers Ltd.
IRB
1100
4400
115
Ispat Industries Ltd.
ISPATIND
4150
24900
116
ITC Ltd.
ITC
1125
2250
117
IVRCL Infrastructure & Projects Ltd.
IVRCLINFRA
500
2000
118
IVR Prime Urban Developers Ltd.
IVRPRIME
800
8000
119
The Jammu & Kashmir Bank Ltd.
J&KBANK
300
1200
120
Jet Airways (India) Ltd.
JETAIRWAYS
400
2400
121
Jindal Saw Ltd.
JINDALSAW
250
1000
122
Jindal Steel & Power Ltd.
JINDALSTEL
160
320
123
Jaiprakash Associates Ltd.
JPASSOCIAT
750
4500
124
Jaiprakash Hydro-Power Ltd.
JPHYDRO
3125
12500
125
JSL Ltd.
JSL
1000
8000
126
JSW Steel Ltd.
JSWSTEEL
275
1650
127
CNX NIFTY JUNIOR
JUNIOR
25
100
128
Kesoram Industries Ltd.
KESORAMIND
500
2000
129
Kingfisher Airlines Ltd.
KFA
850
8500
130
Kotak Mahindra Bank Ltd.
KOTAKBANK
275
1100
131
KSK Energy Ventures Limited
KSK
850
1700
132
K S Oils Ltd.
KSOILS
2950
5900
133
The Karnataka Bank Ltd.
KTKBANK
1250
5000
134
Lakshmi Machines Ltd.
LAXMIMACH
100
400
135
LIC Housing Finance Ltd.
LICHSGFIN
850
1700
136
Lanco Infratech Ltd.
LITL
425
2550
137
Larsen & Toubro Ltd.
LT
100
400
138
Mahindra & Mahindra Ltd.
M&M
312
1248
139
Mahindra Lifespace Developers Ltd.
MAHLIFE
350
1400
140
Maharashtra Seamless Ltd.
MAHSEAMLES
600
2400
141
Maruti Suzuki India Ltd.
MARUTI
200
800
142
Matrix Laboratories Ltd.
MATRIXLABS
1250
5000
143
United Spirits Ltd.
MCDOWELL-N
125
250
144
Mindtree Ltd.
MINDTREE
600
1200
145
Mercator Lines Ltd.
MLL
2450
9800
146
Monnet Ispat Ltd.
MONNETISPA
450
1800
147
Moser-Baer (I) Ltd.
MOSERBAER
825
4950
148
Mphasis Ltd.
MPHASIS
800
1600
149
MRF Ltd.
MRF
100
200
150
Mangalore Refinery and Petrochemicals Ltd.
MRPL
2225
8900
151
Mahanagar Telephone Nigam Ltd.
MTNL
1600
3200
152
Nagarjuna Constrn. Co. Ltd.
NAGARCONST
1000
4000
153
Nagarjuna Fertiliser & Chemicals Ltd.
NAGARFERT
3500
21000
154
National Aluminium Co. Ltd.
NATIONALUM
575
2300
155
Nava Bharat Ventures Ltd.
NBVENTURES
800
3200
156
New Delhi Television Ltd.
NDTV
550
3300
157
Network 18 Fincap Ltd.
NETWORK18
500
2000
158
Neyveli Lignite Corporation Ltd.
NEYVELILIG
1475
5900
159
Nifty Midcap 50
NFTYMCAP50
75
300
160
NIIT Ltd.
NIITLTD
1450
8700
161
NIIT Technologies Ltd.
NIITTECH
1200
4800
162
Noida Toll Bridge Company Ltd.
NOIDATOLL
4100
16400
163
Oracle Financial Services Software Limited.
OFSS
150
600
164
Oil & Natural Gas Corp. Ltd.
ONGC
225
450
165
Opto Circuits (India) Ltd.
OPTOCIRCUI
1020
4080
166
Orbit Corporation Ltd.
ORBITCORP
750
6000
167
Orchid Chemicals Ltd.
ORCHIDCHEM
1050
4200
168
Oriental Bank of Commerce
ORIENTBANK
1200
2400
169
Pantaloon Retail (I) Ltd.
PANTALOONR
850
1700
170
Parsvnath Developers Ltd.
PARSVNATH
700
7000
171
Patel Engineering Ltd.
PATELENG
250
2000
172
Patni Computer Systems Ltd.
PATNI
650
2600
173
Peninsula Land Ltd.
PENINLAND
2750
16500
174
Petronet LNG Ltd.
PETRONET
2200
8800
175
Power Finance Corporation Ltd.
PFC
1200
2400
176
Piramal Healthcare Ltd.
PIRHEALTH
750
1500
177
Polaris Software Lab Ltd.
POLARIS
2800
5600
178
Power Grid Corporation of India Ltd.
POWERGRID
1925
3850
179
Praj Industries Ltd.
PRAJIND
1100
4400
180
Prism Cement Ltd.
PRISMCEM
5550
22200
181
PTC India Ltd.
PTC
2350
4700
182
Punj Lloyd Ltd.
PUNJLLOYD
750
1500
183
Puravankara Projects Ltd.
PURVA
500
7000
184
Rajesh Exports Ltd.
RAJESHEXPO
1650
9900
185
Ranbaxy Laboratories Ltd.
RANBAXY
800
1600
186
Reliance Communications Ltd.
RCOM
350
1400
187
Rural Electrification Corporation Ltd
RECLTD
1950
3900
188
Reliance Capital Ltd.
RELCAPITAL
138
552
189
Reliance Industries Ltd.
RELIANCE
75
300
190
Reliance Infrastructure Ltd.
RELINFRA
138
552
191
Reliance Industrial Infrastructure Ltd.
RIIL
200
800
192
Reliance Natural Resource Ltd.
RNRL
1788
7152
193
Rolta India Ltd.
ROLTA
900
1800
194
Reliance Petroleum Ltd.
RPL
1675
3350
195
Reliance Power Ltd.
RPOWER
500
2000
196
Steel Authority of India Ltd.
SAIL
1350
5400
197
Satyam Computer Services Ltd.
SATYAMCOMP
600
1200
198
State Bank of India
SBIN
132
264
199
Shipping Corporation of India Ltd.
SCI
1200
4800
200
Sesa Goa Ltd.
SESAGOA
1500
3000
201
Siemens Ltd.
SIEMENS
376
1504
202
Sintex Industries Ltd.
SINTEX
700
1400
203
S Kumars Nationwide Ltd.
SKUMARSYNF
1900
11400
204
Sobha Developers Ltd.
SOBHA
350
2800
205
SREI Infrastructure Finance Ltd.
SREINTFIN
1750
7000
206
SRF Ltd.
SRF
1500
3000
207
Strides Arcolab Ltd.
STAR
850
3400
208
Sterlite Industries (I) Ltd.
STER
219
876
209
Sterlite Technologies Ltd.
STRTECH
1050
6300
210
Sun TV Network Ltd.
SUNTV
1000
2000
211
Suzlon Energy Ltd.
SUZLON
1000
6000
212
Syndicate Bank
SYNDIBANK
1900
3800
213
Tata Chemicals Ltd.
TATACHEM
675
2700
214
Tata Communications Ltd
TATACOMM
525
1050
215
Tata Motors Ltd.
TATAMOTORS
425
1700
216
Tata Power Co. Ltd.
TATAPOWER
200
400
217
Tata Steel Ltd.
TATASTEEL
382
1528
218
Tata Tea Ltd.
TATATEA
275
550
219
Tata Consultancy Services Ltd.
TCS
250
500
220
Tech Mahindra Ltd.
TECHM
200
1200
221
Thermax Ltd.
THERMAX
450
1800
222
Titan Industries Ltd.
TITAN
206
412
223
Torrent Power Ltd.
TORNTPOWER
1700
3400
224
Triveni Engg. & Inds. Ltd.
TRIVENI
1925
7700
225
Tata Teleservices (M) Ltd.
TTML
5225
10450
226
Tulip IT Services Ltd.
TULIP
250
1000
227
Television Eighteen India Ltd.
TV-18
850
3400
228
TVS Motor Company Ltd.
TVSMOTOR
2950
11800
229
UCO Bank
UCOBANK
5000
10000
230
Ultratech Cement Ltd.
ULTRACEMCO
400
800
231
United Phosphorous Ltd.
UNIPHOS
1400
2800
232
Unitech Ltd.
UNITECH
900
9000
233
UTV Software Communications Ltd.
UTVSOF
300
1200
234
Vijaya Bank
VIJAYABANK
3450
6900
235
Voltamp Transformers Ltd.
VOLTAMP
250
1000
236
Voltas Ltd.
VOLTAS
900
5400
237
Walchandnagar Industries Ltd.
WALCHANNAG
700
2800
238
Welspun Gujarat Stahl Rohren Ltd.
WELGUJ
800
3200
239
Wipro Ltd.
WIPRO
600
1200
240
Wockhardt Ltd.
WOCKPHARMA
600
2400
241
Wire & Wireless (I) Ltd.
WWIL
3150
25200
242
Yes Bank Ltd.
YESBANK
1100
4400
243
Zee Entertainment Enterprises Ltd.
ZEEL
700
2800
30 November 2008
Business Today (Dec 14) articles
Cover Story
Fighting the bad times
K. R. Balasubramanyam and Kushan Mitra
Vijay Mallya’s aviation business has landed in a sea of red. Mallya has a survival plan, but he may need to look at drastic options to stay afloat. K. R. Balasubramanyam and Kushan Mitra go into the details.
‘‘We can wipe out our losses in three years”
-----------------------------------------------------
Reporter's Diary
The ground reality
BT reporters go incognito across five cities to find out what’s the best deal your money can buy against a developer’s listed price.
Policy Watch
The fight gets real
Puja Mehra
The global crisis has spilled from the international financial system into the real sector. Here’s what the UPA government’s game plan for dealing with it is looking like at the moment.
People
Walking the talk with Obama
Named one of the most powerful women in the world, Nancy M. Barry, 59, the Founder and President of Enterprise Solutions to Poverty and former President of the New York-based Women’s World Banking, is no stranger to the limelight.
Special
Messiah or merchant?
E Kumar Sharma
Vikram Akula has revolutionised Indian microfinance by building SKS—one of the biggest brands in rural India. His critics feel that he has ignored the very people he should be helping.
Poverty's new saviour
“India needs game changers In microfinance
------------------------------------------------------
60 MINUTES
'New house numbers in the US have fallen to lowest since WW II'
United Technologies (UTC), the $54.8-billion (Rs 2,74,000 crore) diversified industrial conglomerate, and its 51-year-old President and CEO Louis R. Chênevert, are no strangers to India.
Money
Coping with an uncertain market
Manu Kaushik
The market meltdown has cleaned up nearly 60 per cent of investor wealth. How are investors trying to cope with their losses? We take a look.
The art of living frugally
Trends
Time for a price cut?
Virendra Verma
Despite a call from the FM, industry leaders say cutting production is a better way to deal with recession.
‘‘Firms in UK and China are looking for investment opportunities”
Ecomomy watch
Ranked
Market meltdown continues
‘‘India remains a robust market’’
Instan tip
Numbers of note
‘Impossible to be risk proof’
The generosity index
The sWaP phone
Heathrow-on-sea
The fight gets real
To be precise
Passports get smart
China’s 10-point bailout
Banking on a change
A spirited upswing
Noted
Ranked
Reliance Industries (RIL) Chairman Mukesh Ambani, with a net worth of $20.8 billion, is the richest Indian in the world. Ambani has displaced Lakshmi Mittal, according to a list of the nation’s 40 richest people compiled by the Forbes.
Source:Business Today.
http://businesstoday.digitaltoday.in
Fighting the bad times
K. R. Balasubramanyam and Kushan Mitra
Vijay Mallya’s aviation business has landed in a sea of red. Mallya has a survival plan, but he may need to look at drastic options to stay afloat. K. R. Balasubramanyam and Kushan Mitra go into the details.
‘‘We can wipe out our losses in three years”
-----------------------------------------------------
Reporter's Diary
The ground reality
BT reporters go incognito across five cities to find out what’s the best deal your money can buy against a developer’s listed price.
Policy Watch
The fight gets real
Puja Mehra
The global crisis has spilled from the international financial system into the real sector. Here’s what the UPA government’s game plan for dealing with it is looking like at the moment.
People
Walking the talk with Obama
Named one of the most powerful women in the world, Nancy M. Barry, 59, the Founder and President of Enterprise Solutions to Poverty and former President of the New York-based Women’s World Banking, is no stranger to the limelight.
Special
Messiah or merchant?
E Kumar Sharma
Vikram Akula has revolutionised Indian microfinance by building SKS—one of the biggest brands in rural India. His critics feel that he has ignored the very people he should be helping.
Poverty's new saviour
“India needs game changers In microfinance
------------------------------------------------------
60 MINUTES
'New house numbers in the US have fallen to lowest since WW II'
United Technologies (UTC), the $54.8-billion (Rs 2,74,000 crore) diversified industrial conglomerate, and its 51-year-old President and CEO Louis R. Chênevert, are no strangers to India.
Money
Coping with an uncertain market
Manu Kaushik
The market meltdown has cleaned up nearly 60 per cent of investor wealth. How are investors trying to cope with their losses? We take a look.
The art of living frugally
Trends
Time for a price cut?
Virendra Verma
Despite a call from the FM, industry leaders say cutting production is a better way to deal with recession.
‘‘Firms in UK and China are looking for investment opportunities”
Ecomomy watch
Ranked
Market meltdown continues
‘‘India remains a robust market’’
Instan tip
Numbers of note
‘Impossible to be risk proof’
The generosity index
The sWaP phone
Heathrow-on-sea
The fight gets real
To be precise
Passports get smart
China’s 10-point bailout
Banking on a change
A spirited upswing
Noted
Ranked
Reliance Industries (RIL) Chairman Mukesh Ambani, with a net worth of $20.8 billion, is the richest Indian in the world. Ambani has displaced Lakshmi Mittal, according to a list of the nation’s 40 richest people compiled by the Forbes.
Source:Business Today.
http://businesstoday.digitaltoday.in
Labels:
Business Today (Dec 14) articles
Terror Face on Mumbai
TERROR HITS MUMBAI
Pix: What remains of the Taj Terror toll 195
Why did NSG take 10 hours to arrive?
Pix: The face that launched a thousand demons
Target: 5000 lives Salute our Heroes
Bush offers full support• A commando's account
Pix: When terror snuffed out two bravehearts
Dawood provided logistics Zardari, team meet
CWC sidesteps Patil 22 bodies found at Taj
‘Shouldn't Narendrabhai have waited?’
• Many bodies still unidentified Many Questions•
Operation Cyclone 2 3 4 5 6 More
------------------------------------------------
'He was a brave officer' Pix: Nariman House
• Terrorists will not check in as guests'
Obama backs India
Mumbai terror• We salute our heroes • Commandos speak • Inside the Taj • Latest at the Taj• Taj burns• Modi lashes at PM & Pak• The Crossfire• Crowd cheers NSG• The terror plan• Remembering our Heroes
----------------------------------------
Mumbai locals helped us, terrorist tells cops
Shivraj Patil offered to resign at CWC meeting
Sabina, we will miss you. Pay your tribute
Now, arrested terrorist Ajmal says 'kill me'
Ajmal Kasab was arrested by D B Marg Police, his companion Abu Ismail was killed.
Pay tributes to bravehearts The Terrorists Pak Connection Places targeted
Creation of NSG-like force may require Rs 10,000 cr
It’s the last & final wake-up call
The attitude of tolerance will cost the country heavily, says Gautam Adani, Chairman of Adani Group.
India Inc affected Cos to hold meets at own premises
Institutional responses inadequate Tourism industry shaken
Mumbai attackers were 'well-trained, financed and prepared' (1123hrs)
Mystery woman had accompanied terrorists at Cama (1036hrs)
Terror attacks: 5-star hotels change, perhaps forever (0756hrs)
Nariman House is in danger of crumbling down: Police (0928hrs)
ET updates:http://economictimes.indiatimes.com/etupdatelist/2160130.cms
------------------------------------------------
Source:All leading web links..
Pix: What remains of the Taj Terror toll 195
Why did NSG take 10 hours to arrive?
Pix: The face that launched a thousand demons
Target: 5000 lives Salute our Heroes
Bush offers full support• A commando's account
Pix: When terror snuffed out two bravehearts
Dawood provided logistics Zardari, team meet
CWC sidesteps Patil 22 bodies found at Taj
‘Shouldn't Narendrabhai have waited?’
• Many bodies still unidentified Many Questions•
Operation Cyclone 2 3 4 5 6 More
------------------------------------------------
'He was a brave officer' Pix: Nariman House
• Terrorists will not check in as guests'
Obama backs India
Mumbai terror• We salute our heroes • Commandos speak • Inside the Taj • Latest at the Taj• Taj burns• Modi lashes at PM & Pak• The Crossfire• Crowd cheers NSG• The terror plan• Remembering our Heroes
----------------------------------------
Mumbai locals helped us, terrorist tells cops
Shivraj Patil offered to resign at CWC meeting
Sabina, we will miss you. Pay your tribute
Now, arrested terrorist Ajmal says 'kill me'
Ajmal Kasab was arrested by D B Marg Police, his companion Abu Ismail was killed.
Pay tributes to bravehearts The Terrorists Pak Connection Places targeted
Creation of NSG-like force may require Rs 10,000 cr
It’s the last & final wake-up call
The attitude of tolerance will cost the country heavily, says Gautam Adani, Chairman of Adani Group.
India Inc affected Cos to hold meets at own premises
Institutional responses inadequate Tourism industry shaken
Mumbai attackers were 'well-trained, financed and prepared' (1123hrs)
Mystery woman had accompanied terrorists at Cama (1036hrs)
Terror attacks: 5-star hotels change, perhaps forever (0756hrs)
Nariman House is in danger of crumbling down: Police (0928hrs)
ET updates:http://economictimes.indiatimes.com/etupdatelist/2160130.cms
------------------------------------------------
Source:All leading web links..
India's GDP grows 7.6 % in Q2
India's GDP grows 7.6 % in Q2
Dispelling fears of a major slowdown, the Indian economy grew by 7.6 per cent in the second quarter of current fiscal due to decent performance by the construction and services sectors, though the growth is moderate compared with 9.3 per cent in the year-ago period.For the first half of this fiscal, the economy, measured as gross domestic product, rose by 7.8 per cent compared with 9.3 per cent a year ago, an official release said on Friday.
The government has been projecting the economy to grow between 7-8 per cent this fiscal, while Reserve Bank of India's [Get Quote] projection ranges from 7.5-8 per cent.
While agriculture and allied sectors growth slipped to 2.7 per cent in the second quarter from 4.7 per cent a year ago, mining and quarrying could post a growth of 3.9 per cent compared with 5.5 per cent.
Manufacturing sector, however, show a marked deceleration recording a growth of five per cent, down from a high of 9.2 per cent in the second quarter of previous fiscal.Electricity generation and related sectors, too, recorded a modest growth of 3.6 per cent compared with 6.9 per cent in the year-ago period.
Among those sectors which performed well, construction sector grew by 9.7 per cent in the second quarter, even though it was down from 11.8 per cent in the corresponding period last fiscal.
In services group, trade, hotels, transport and communication rose at the rate of 10.8 per cent, marginally down from 11 per cent in the second quarter last fiscal.Even the financial and related sectors recorded a growth of 9.2 per cent, compared with 12.4 per cent, while growth in the community, social and personal services remained more or less at the same level.
India adviser: GDP growth along expected lines
GDP springs a surprise in 2nd quarter, grows 7.6%
INSTANT VIEW - India's Sept qtr GDP up 7.6 pct y/y - Yahoo! India News
India's July-Sept GDP up 7.6 pct from year earlier - Forbes.com
The Hindu : Business : GDP growth rate slips to 7.6% in second quarter
Deccan Herald - GDP logs modest 7.6% growth in H1 of 2008
India's economic growth falls further to 7.6 percent- Indicators ...
Q2 GDP growth of 7.6% shows resilience of Indian economy: CII
GDP grows 7.6 % in Q2
India's July-Sept GDP up 7.6 pct from year earlier Business News ...
Source:Rediff,All websources.
Dispelling fears of a major slowdown, the Indian economy grew by 7.6 per cent in the second quarter of current fiscal due to decent performance by the construction and services sectors, though the growth is moderate compared with 9.3 per cent in the year-ago period.For the first half of this fiscal, the economy, measured as gross domestic product, rose by 7.8 per cent compared with 9.3 per cent a year ago, an official release said on Friday.
The government has been projecting the economy to grow between 7-8 per cent this fiscal, while Reserve Bank of India's [Get Quote] projection ranges from 7.5-8 per cent.
While agriculture and allied sectors growth slipped to 2.7 per cent in the second quarter from 4.7 per cent a year ago, mining and quarrying could post a growth of 3.9 per cent compared with 5.5 per cent.
Manufacturing sector, however, show a marked deceleration recording a growth of five per cent, down from a high of 9.2 per cent in the second quarter of previous fiscal.Electricity generation and related sectors, too, recorded a modest growth of 3.6 per cent compared with 6.9 per cent in the year-ago period.
Among those sectors which performed well, construction sector grew by 9.7 per cent in the second quarter, even though it was down from 11.8 per cent in the corresponding period last fiscal.
In services group, trade, hotels, transport and communication rose at the rate of 10.8 per cent, marginally down from 11 per cent in the second quarter last fiscal.Even the financial and related sectors recorded a growth of 9.2 per cent, compared with 12.4 per cent, while growth in the community, social and personal services remained more or less at the same level.
India adviser: GDP growth along expected lines
GDP springs a surprise in 2nd quarter, grows 7.6%
INSTANT VIEW - India's Sept qtr GDP up 7.6 pct y/y - Yahoo! India News
India's July-Sept GDP up 7.6 pct from year earlier - Forbes.com
The Hindu : Business : GDP growth rate slips to 7.6% in second quarter
Deccan Herald - GDP logs modest 7.6% growth in H1 of 2008
India's economic growth falls further to 7.6 percent- Indicators ...
Q2 GDP growth of 7.6% shows resilience of Indian economy: CII
GDP grows 7.6 % in Q2
India's July-Sept GDP up 7.6 pct from year earlier Business News ...
Source:Rediff,All websources.
Labels:
India's GDP grows 7.6 % in Q2
16 November 2008
G20 Summit: The Group of Twenty
G20 Summit: The Group of Twenty
World leaders agree to step up financial oversightG20 leaders vowed to toughen oversight, but stopped short of calling for a global super-regulator on hedge funds.
UN welcomes G-20 declaration IMF welcomes G20 plan
G20 follow-up key to resolve crisis G20 leaders' speak
WASHINGTON: Leaders of the world's 20 largest economies vowed on Saturday to toughen oversight of the troubled financial system, but stopped short of calling for a global super-regulator or new restrictions on hedge funds. At an economic summit hosted by soon-to-depart US President George W Bush, officials faulted regulators and policymakers for not tackling financial problems and agreed on a foundation for reform.
Rich and developing nations alike, many having recently bailed out their banking sectors, blamed credit rating agencies, complex derivatives, banks, accounting standards, executive compensation and regulators. Leaders agreed that "colleges" of international supervisors were needed for all major global financial institutions, such as Swiss-based UBS AG or Goldman Sachs. Financial industry experts said it was significant that the 20 largest economies met to discuss financial markets. However, they called the G20 statement vague and broad.
"In terms of the substance, it's remarkably bland," said Edwin Truman, senior fellow at the Peterson Institute for International Economics, a think tank in Washington, DC. "Even the description of supervisory colleges for large complex institutions is pretty vague," Truman said. "It's not much more than what goes on today." Some financial industry reforms are already in motion. The US and the European securities regulators are taking steps to ensure that rating agencies such as Standard & Poor's, Moody's Investors Service and Fitch Ratings, avoid conflicts of interest, provide greater disclosure and differentiate ratings for complex products, such as mortgage-backed securities.
The US and the EU accounting rule makers have also begun working on standardizing global accounting rules and addressing weaknesses in accounting and disclosures for off-balance sheet items. Regulators are already working on central clearing of credit default swaps, sophisticated instruments blamed for exacerbating the credit crisis. The swaps are used to insure against risk that a borrower will default on debt and are often speculatively traded.
CEO PAY RECOMMENDATIONS "Credit default swaps should be processed through central clearing houses," Bush said in a statement after the summit. His comments were a marked departure from the Bush administration's pro-business policies centered on the premise that free markets should police themselves. On corporate executive pay, the group of 20 leaders told their finance ministers to come up with recommendations on compensation practices and said pay incentives should discourage excessive risk-taking. Leaders said the Financial Stability Forum -- an advisory body of rich nations' central banks, regulators and finance ministries -- should expand to include emerging economies. They agreed to assess the best practices of hedge funds and how they could be used to help fix the financial problems. Secretive hedge funds have been a big source of funding for mortgage securities but also criticized for exacerbating the situation by short-selling stocks of troubled banks. Canada's finance minister, Jim Flaherty, expressed disappointment that the G20 didn't directly subject hedge funds to capitalization rules. "Our view is all significant pools of capital that are leveraged need to be subject to capitalization rules in particular," Flaherty said. Leaders poured cold water on the idea of an international super-regulator and said regulation is a national responsibility, an idea applauded by the financial services industry.
"Each country should set up their own regime to deal with systemic risk. Each country has their own customs; creating one global regulator would be extremely difficult," said Scott Talbott, senior vice president at the Financial Services Roundtable, which represents the biggest US banks, insurers and investment services companies. The United States and other nations are taking major steps to restore bank capital, which has shrunk due to enormous write downs of soured mortgages, with some depositors fleeing amid consumer worries about the safety of their money. One summit recommendation was to harmonize measurements of capital at financial institutions and maintain enough capital to "sustain confidence." They also called on international standard-setters to strengthen capital requirements for banks' structured credit and securitization activities. Leaders will meet again by April 30 to review the implementation of the principles and decisions they agreed upon.
Source:ET
World leaders agree to step up financial oversightG20 leaders vowed to toughen oversight, but stopped short of calling for a global super-regulator on hedge funds.
UN welcomes G-20 declaration IMF welcomes G20 plan
G20 follow-up key to resolve crisis G20 leaders' speak
WASHINGTON: Leaders of the world's 20 largest economies vowed on Saturday to toughen oversight of the troubled financial system, but stopped short of calling for a global super-regulator or new restrictions on hedge funds. At an economic summit hosted by soon-to-depart US President George W Bush, officials faulted regulators and policymakers for not tackling financial problems and agreed on a foundation for reform.
Rich and developing nations alike, many having recently bailed out their banking sectors, blamed credit rating agencies, complex derivatives, banks, accounting standards, executive compensation and regulators. Leaders agreed that "colleges" of international supervisors were needed for all major global financial institutions, such as Swiss-based UBS AG or Goldman Sachs. Financial industry experts said it was significant that the 20 largest economies met to discuss financial markets. However, they called the G20 statement vague and broad.
"In terms of the substance, it's remarkably bland," said Edwin Truman, senior fellow at the Peterson Institute for International Economics, a think tank in Washington, DC. "Even the description of supervisory colleges for large complex institutions is pretty vague," Truman said. "It's not much more than what goes on today." Some financial industry reforms are already in motion. The US and the European securities regulators are taking steps to ensure that rating agencies such as Standard & Poor's, Moody's Investors Service and Fitch Ratings, avoid conflicts of interest, provide greater disclosure and differentiate ratings for complex products, such as mortgage-backed securities.
The US and the EU accounting rule makers have also begun working on standardizing global accounting rules and addressing weaknesses in accounting and disclosures for off-balance sheet items. Regulators are already working on central clearing of credit default swaps, sophisticated instruments blamed for exacerbating the credit crisis. The swaps are used to insure against risk that a borrower will default on debt and are often speculatively traded.
CEO PAY RECOMMENDATIONS "Credit default swaps should be processed through central clearing houses," Bush said in a statement after the summit. His comments were a marked departure from the Bush administration's pro-business policies centered on the premise that free markets should police themselves. On corporate executive pay, the group of 20 leaders told their finance ministers to come up with recommendations on compensation practices and said pay incentives should discourage excessive risk-taking. Leaders said the Financial Stability Forum -- an advisory body of rich nations' central banks, regulators and finance ministries -- should expand to include emerging economies. They agreed to assess the best practices of hedge funds and how they could be used to help fix the financial problems. Secretive hedge funds have been a big source of funding for mortgage securities but also criticized for exacerbating the situation by short-selling stocks of troubled banks. Canada's finance minister, Jim Flaherty, expressed disappointment that the G20 didn't directly subject hedge funds to capitalization rules. "Our view is all significant pools of capital that are leveraged need to be subject to capitalization rules in particular," Flaherty said. Leaders poured cold water on the idea of an international super-regulator and said regulation is a national responsibility, an idea applauded by the financial services industry.
"Each country should set up their own regime to deal with systemic risk. Each country has their own customs; creating one global regulator would be extremely difficult," said Scott Talbott, senior vice president at the Financial Services Roundtable, which represents the biggest US banks, insurers and investment services companies. The United States and other nations are taking major steps to restore bank capital, which has shrunk due to enormous write downs of soured mortgages, with some depositors fleeing amid consumer worries about the safety of their money. One summit recommendation was to harmonize measurements of capital at financial institutions and maintain enough capital to "sustain confidence." They also called on international standard-setters to strengthen capital requirements for banks' structured credit and securitization activities. Leaders will meet again by April 30 to review the implementation of the principles and decisions they agreed upon.
Source:ET
Labels:
G20 Summit: The Group of Twenty
14 November 2008
Corporate Headlines
Stocks end 151 points lower
Rupee off 2-week lows
'India may face a slowdown in FDI'
FX reserves at $251.364 bn on Nov 7
Oil slips below $58 despite stock rally
Citi lowers India growth forecast
D&B expects RBI to cut rates by 0.50%
'Accumulate' Reliance Petro: Analysts
Religare Hichens sees Rs 1,229 on Titan
Recession spreads ahead of G20 summitThe worst financial crisis in 80 years has weakened the world's major economies and euro zone economy had shrunk by 0.2%.
Sun to cut up to 6K jobs Brazil's Sao Paulo loses 10K jobs
US teetering on $14 trillion debt Oct budget deficit at $237 bn
More >>
RIL-RNRL case: Govt says it will finalise gas price
DoCoMo makes Rs 949 cr open offer for 20% in TTML
Sun Microsystems to cut up to 6,000 jobs
Investing in realty a good hedge against inflation
No Indian company in world's 100 most accountable
Earnings of Sensex cos grow by 10.1% in Q2
MetLife plans expansion; to hire 33,000
TTML open offer at Rs 24.70 a share
RCom adds 1.76 mn mobile users in Oct
Shree Renuka Sugars Q4 net jump two folds
Source:ET,BS,BL etc
Rupee off 2-week lows
'India may face a slowdown in FDI'
FX reserves at $251.364 bn on Nov 7
Oil slips below $58 despite stock rally
Citi lowers India growth forecast
D&B expects RBI to cut rates by 0.50%
'Accumulate' Reliance Petro: Analysts
Religare Hichens sees Rs 1,229 on Titan
Recession spreads ahead of G20 summitThe worst financial crisis in 80 years has weakened the world's major economies and euro zone economy had shrunk by 0.2%.
Sun to cut up to 6K jobs Brazil's Sao Paulo loses 10K jobs
US teetering on $14 trillion debt Oct budget deficit at $237 bn
More >>
RIL-RNRL case: Govt says it will finalise gas price
DoCoMo makes Rs 949 cr open offer for 20% in TTML
Sun Microsystems to cut up to 6,000 jobs
Investing in realty a good hedge against inflation
No Indian company in world's 100 most accountable
Earnings of Sensex cos grow by 10.1% in Q2
MetLife plans expansion; to hire 33,000
TTML open offer at Rs 24.70 a share
RCom adds 1.76 mn mobile users in Oct
Shree Renuka Sugars Q4 net jump two folds
Source:ET,BS,BL etc
Indian tricolour finally lands on the moon
Indian tricolour finally lands on the moon
The Indian tricolour marked its presence on the moon tonight (at 8.31 pm IST) after having flown 3,86,000 km from the earth. The timing of
this proud moment has been specially designed to coincide with Children's Day. The United States, the former Soviet Union and the European Space Agency comprising 17 countries already have their flags on the moon. The Indian tricolour is painted on all sides of the 29-kg Moon Impact Probe which is attached to the main orbiting spacecraft, Chandrayaan-1, which was launched on October 22. The inclusion of the MIP as part of the Chandrayaan mission came at the suggestion of former President A P J Abdul Kalam, a former rocket scientist, during the International Lunar Exploration Working Group conference held at Udaipur in November 2004. The Indian tricolour has been hoisted on Mount Everest and Antarctica. And now it is on the moon though it was not hoisted. The flight of the MIP on Friday is expected to be a forerunner to the second Indian moon mission, Chandrayaan-2, which will carry a Russian rover and alander slated for lift-off between 2010 and 2012. The crash landing of MIP will help in assessing future soft-landing technologies.
Chandrayaan project director Mylaswamy Annadurai explained to TOI on Friday that at about 8 pm on Friday, a command will be flashed to the MIP from Isro's telemetry, tracking and command network (Istrac) at Bangalore for it to detach from the orbiter. "The MIP will separate and with its three instruments, zoom towards the lunar south pole at a velocity of 1.5km per second," he said. "At Istrac's mission control room, we will immediately come to know that the MIP has separated from the orbiter. The MIP's flight path will first take it over the Malapert crater for about nine seconds and then crashland near the Shackleton Crater about 25 minutes after its detachment from the orbiter. Malapert Crater is not far from the Shackleton crater," he added. Annadurai said that after this, the orbiter will fly in the opposite side and thus data will not be immediately available. "The downloading of data from the MIP to the orbiting Chandrayaan and then to the ground station will start once the spacecraft comes over the north pole of the moon. It will take a couple of hours for the data from the MIP to be downloaded and processed," Annadurai said. He said that once the MIP crashlands on the moon, its own survivability and that of the three instruments will be in question. The probe uses solid propellants. "India's physical presence on the moon with the tricolour will be assured," he said.
-----------------------------------------
ISRO to launch Chandrayaan-II by 2012
Source:ET
The Indian tricolour marked its presence on the moon tonight (at 8.31 pm IST) after having flown 3,86,000 km from the earth. The timing of
this proud moment has been specially designed to coincide with Children's Day. The United States, the former Soviet Union and the European Space Agency comprising 17 countries already have their flags on the moon. The Indian tricolour is painted on all sides of the 29-kg Moon Impact Probe which is attached to the main orbiting spacecraft, Chandrayaan-1, which was launched on October 22. The inclusion of the MIP as part of the Chandrayaan mission came at the suggestion of former President A P J Abdul Kalam, a former rocket scientist, during the International Lunar Exploration Working Group conference held at Udaipur in November 2004. The Indian tricolour has been hoisted on Mount Everest and Antarctica. And now it is on the moon though it was not hoisted. The flight of the MIP on Friday is expected to be a forerunner to the second Indian moon mission, Chandrayaan-2, which will carry a Russian rover and alander slated for lift-off between 2010 and 2012. The crash landing of MIP will help in assessing future soft-landing technologies.
Chandrayaan project director Mylaswamy Annadurai explained to TOI on Friday that at about 8 pm on Friday, a command will be flashed to the MIP from Isro's telemetry, tracking and command network (Istrac) at Bangalore for it to detach from the orbiter. "The MIP will separate and with its three instruments, zoom towards the lunar south pole at a velocity of 1.5km per second," he said. "At Istrac's mission control room, we will immediately come to know that the MIP has separated from the orbiter. The MIP's flight path will first take it over the Malapert crater for about nine seconds and then crashland near the Shackleton Crater about 25 minutes after its detachment from the orbiter. Malapert Crater is not far from the Shackleton crater," he added. Annadurai said that after this, the orbiter will fly in the opposite side and thus data will not be immediately available. "The downloading of data from the MIP to the orbiting Chandrayaan and then to the ground station will start once the spacecraft comes over the north pole of the moon. It will take a couple of hours for the data from the MIP to be downloaded and processed," Annadurai said. He said that once the MIP crashlands on the moon, its own survivability and that of the three instruments will be in question. The probe uses solid propellants. "India's physical presence on the moon with the tricolour will be assured," he said.
-----------------------------------------
ISRO to launch Chandrayaan-II by 2012
Source:ET
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