CHANDIGARH: He used to sell decorative candles to the newly-wed couples along the roadside in Chandigarh. "I was never interested in studies, and I always wanted to do something of my own," says Naresh Gulati, who is now the owner of Rs 440-crore Oceanic Consultants Australia Group (OCA Group). From selling candles to wholesale cloth trading, to cosmetics wholesale and teaching at Aptech Computers to running a computer centre, the 39-year-old tried his hands at many things before homing in on overseas education consultancy business. The journey has not been easy for Mr Gulati who flunked in class 10 and performed miserably in college. But he is now a guest lecturer on entrepreneurship in leading Australian universities. Armed with a diploma in electronic data processing, Mr Gulati went to RMIT, Melbourne, in 1995 for a post-graduate course in information systems. However, destiny had scripted a different chapter for him. "When I reached there, I realised that I had been duped. I was promised a job in Melbourne by my immigration consultant, and that would have helped me clear the loan that I took for going overseas," recalls Mr Gulati. For the next six months, Mr Gulati came in touch with several students who had met the same fate. And this made him think about a fantastic business opportunity-immigration consultancy business. Mr Gulati came back to Chandigarh in 1996 and started Oceanic Consultants. "Chandigarh had over 110 such agencies at that time, and I was discouraged by many not to venture into this business, says Mr Gulati. "There was a time when I had to choose between two options-paying the rent or using that money for advertising. I chose the latter and the risk paid off,". |
11 August 2010
Naresh Gulati: From candle seller to CEO of Rs 440-cr biz
10 August 2010
Stock calls
Technical Calls on Rain Commodity,DCM Limited,Aries Agro and Ratnamani Metals
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Heard on the Street
Hinduja Ventures gains as a punter seen active in stock
Shares of Hinduja Ventures have seen a surge in activity, of late, amid the rally in mid- and small-cap shares. The stock, which fell 0.4% to Rs 448.10 on Monday, had surged a little over 30% in the two previous trading sessions, supported by higher-than-average volumes. The buzz is that a Mumbai operator, based out of a western suburb and known for his bearish calls, has been active in the stock, of late. Grapevine is that this operator has been closely tracking the company’s business and new ventures. Brokers said new Trai guidelines recommending an eight-year tax holiday for setting up digital distribution to cable providers and zero customs duty for all digital head-end equipment and set-top boxes for three years are a positive for the company.
Short-selling in Nifty futures could be good for bulls
Nifty August futures closed at an 8-point discount to spot. This seems to indicate that a large section of the market is not convinced about the ongoing rally. Dealers say this could be partly because many institutional players and traders are hedging their long positions in the cash market by short-selling Nifty futures. This could spell good news for bulls, they say. Because if the market sustains the uptrend for a while, most players ‘short’ on the Nifty would be forced to cover up their positions. Already, quite a few bears squared up their short positions on Monday, when the Nifty rose beyond 5474, narrowing the discount between the Nifty futures and the index, which was in excess of 10 points at one stage during the day.
Short-covering lifts Unitech shares
Shares of property developer Unitech rose 6% to close at Rs 90.45 on Monday, after shareholders approved the company’s restructuring scheme. Under this scheme, the company has planned to merge two of its group companies with itself, and hive off its infrastructure business into a separate company. Grapevine is that many traders had short sold Unitech futures, betting that the restructuring plan would not be approved by shareholders. With the outcome turning out to be the opposite, traders were forced to cover their positions. On the BSE, over 93 lakh shares were traded, compared to the two-week average daily volume of 39 lakh shares.
I-banks woo investors into Jyothy Labs’ QIP issue
Merchant bankers are said to have sounded off potential investors for the QIP of Jyothy Laboratories. The book will be open for bidding in a day or two, say dealers tracking the stock. In June, the company board had approved a proposal to raise up to Rs 300 crore through a QIP. The market buzz is that the company will be raising around Rs 250 crore. At Wednesday’s closing price of Rs 279, the company will have to dilute nearly 12% of its equity to raise that amount.
(Contributed by Harish Rao & Santosh Nai
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Daily Market Outlook - Aug 10 2010
Technical Picks - Aug 10 2010
Daily Fundamental Report - Aug 10 2010
BL Kashyap and Sons
Src: ET, Brameshblog, DP blog
09 August 2010
With only Rs 1,000, you can fund the next Google!
"The next Google or YouTube can come out of India and with the right network of people working together to discover and nurture innovative start-ups, it could be sooner than you think," Valto states.
If you want to invest in a start-up, you can subscribe to the website. The subscription fees is Rs 1,000, out of which Rs 750 is available to you to invest in a company of your choice.
GrowVC retains the remaining Rs 250 as management fees. Once you have become a member, you can access the list of start-up companies available for investment on the website with a short description and a basic business plan.
The maximum amount you can invest through GrowVC is Rs 50,000.
"The typical holding period we have in mind for these investments is around 3-4 years after which we will start looking at exit options and distribute the profits to the investors," says Kataria. The company will once again keep 25 per cent of the returns earned as their management fees and handover the remaining 75 per cent of the profit to the original investors.
The crowd funding approach has many precedents worldwide, mainly in the spheres of charity, microfinance and creative fields like music and films. Tapping the Internet to collect money for a cause or project has eventually led to many international websites designed specifically for this purpose. Kiva, Sprouter and Kickstarter are some examples.
Click NEXT to read on . . .With only Rs 1,000, you can fund the next Google!
06 August 2010
Check out the top contenders for Ratan Tata's place
Five wise men will soon choose a new head for the $71-billion Tata empire. This is India's biggest CEO search ever.
The selection committee will be screening candidates from three talent pools -executives within the group, Indian professionals and global managers. ET put together a shortlist of potential candidates.
Do let us know if you have better names in mind...
The selection committee will be screening candidates from three talent pools -executives within the group, Indian professionals and global managers. ET put together a shortlist of potential candidates.
Do let us know if you have better names in mind...
INDRA NOOYIA friend of Ratan Tata, Indra Nooyi, 55, heads the $60-billion PepsiCo.
The manner in which she led PepsiCo towards sustainable growth will endear her to the group, but her very American management style may not.
For more on this Article : Check out the top contenders for Ratan Tata's place
Potential candidates for Ratan Tata's place
5 wise men will soon choose a new head for the $71 bn empire. This is India's biggest CEO search. JRD Tata: Down memory lane
05 August 2010
Stock Calls
MOSERBEAR – PLEASE KEEP EYES
DABUR INDIA – PLEASE KEEP CLOSE EYES .
05 Aug 2010 | 16:08
05 Aug 2010 | 16:08
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