25TH October - THE MINT

Ritika Misri
Rohit Aggarwal
Romil Jain

MARKET WATCH
SENSEX 20,165.86
NIFTY 6066.5
DOLLAR Rs. 44.59
EURO Rs. 61.95
GOLD Rs. 19,355
OIL $82.96

HEADLINES
1. RESULTS OUTPACE JUN SHOW
Profit of 281 Indian companies declared there profit boost up by 23% for last three months.
There sales grew up by 21% as the same rate for the past two quartes.This causes SENSEX to boost up by 11.3%.

2. WOMEN WORKERS FACE NEW REALITIES
Recent study by Mc-Kinsey & co. estimated that nearly 530 million Indian will live in cities by 2030 which is twice the population of US.
By these trends there is mass movement of migrant workers to the cities in search of jobs and among that women remains largely invisible force who fall prey to traffickers.

3. BAJAJ BRAND JUST FOR BIKES? NOT ALL IN THE FAMILY AGREE.
Bajaj Auto MD Rajiv Bajaj wants the Bajaj name to be exclusively with the two wheelers which has been opposed by some members of the family who control group firm that sell products from hair oil to home appliances.

CAPITAL CALCULUS

4. INFLATION FIX IS UPA’S UNDERBELLY
Common sense economics states that prices increase when there is a mismatch between demand and supply.
Instead of having surplus food stock, UPA has not been able to offload the current surplus either through Public Distribution System (PDS) or the open market.
Data available on the FCI’s site reveal that in the last one year states and UT only lifted 45% of 1.46 million tonnes of Rice and little less than 2.16 million tonnes of Wheat allocated. In other words states and UT,s need to incur loss on every kilogram of food grain that they distribute through PD’s.

5. SECRETIVE WIKILEAKS FOUNDER LOSING SUPPORTORS
Founder Julian Assange is losing support on the controversy of release of Afghan War document in which the name of source Afghan secret service has not been removed and most of the supporters with even Wikileaks volunteers. They are very upset with that and also with the way they spoke about it afterwards.

6.Supreme court allows women to claim income support from there live-in partners but it has drawn protest and the lawyers say court has condemned women in vulnerable position to a “Double Punishment”.

7. The Department of Industrial Policy and Promotion (DIPP) fears the price of critical drugs may rise due to acquit ion of Indian firms by foreign pharmacy.

CORPORATE NEWS

8. Air India is planning to rebrand its international low cost subsidiary Air India Express and had shifted his HQ from Mumbai to Thiruanantpuram.
They incurred a loss of Rs. 14,000 cr. Over the past four fiscals and indebt of Rs. 18,000 cr. COO Gustav Baldauf said that we will be appointing a consultant for rebranding and airline will be changing more than its name.

9. ADOBE TWEAKS EXPANSION OF NOIDA CAMPUS
Adobe systems after waiting for 4 years to have a vacant campus in sector 25-A of NOIDA has given up plan to expand at that site.
They have occupied a new land in the sector 132 of NOIDA and will build the new facility spread over 7.5 acres.

10. SBI LIFE INSURANCE LAUNCHES LOW PREMIUM ULIP
SBI has launched third new unit linked insurance plan i.e. ‘SARAL MAHA ANAND’ with a premium starting from Rs. 15,000 onwards the product has designed to cater to investment and production of a middle and low income segment the plan has minimum yearly premium of Rs. 15,000 and maximum yearly premium of Rs. 29,000 restricted to a maximum of Rs. 7,50,000.

11. SILICON VALLEY 3.0: TECH’S NEW WAVE
The long recession only tip-toed through the 2,300-acres office park, the expanding operation over the past 18 months now the move into 6,000 sq. foot space more than the double than double its old office size.The valley’s start-up economy has quietly broadened beyond information technology.

12. ASX,SINGAPORE EXCHANGE IN MERGER TALKS
NEIL KATKOV,head of Asia for celent, a research and consultancy firm focused
On the application of IT in financial services who sees this possible merger as the first step in steady consolidation across the region.He calculates that 1% of trading,in asia take place and forecasts that figure will rise to 5%or 6% by 2015.