Submitted by
Abhishek
Abhyendra
Markets could correct in October-November: Marc Faber
Marc Faber, Publisher, Gloom, Boom & Doom Report, spoke to ET Now on a range of issues including the current market scenario, emerging markets, Fed’s policies and US bond markets, among others. According to him,
• In late August, sentiment was very negative worldwide and people said that Dow will drop to 1000 and so forth and so on.
• Suddenly now, the consensus is that you have to be in equities, you have to be in gold, you have to be in assets because central banks around the world will print money…they will print money, but sentiment has become so universally bullish that about all assets, including especially emerging economies - in US dollar terms - are up.
• The Indian market this year is already up 19%, Malaysia 28%, the Philippines, Indonesia and Thailand each over 40%.
Anil outlines growth blueprint; plans Rs 1,25,000 cr investments
Mumbai: Anil Ambani today outlined investments of nearly Rs 1,25,000 crore and also fund-raising to the tune of over Rs 65,000 crore for expanding businesses and entering new areas.
• Ambani told shareholders of Reliance Power, Reliance Capital and Reliance Communications that the investments were not just about creating wealth but sharing it with them.
• He said invoking the philosophy of his father Late Dhirubhai Ambani that wealth should be shared.
• Most of the investments would go into setting up power plants.
• Also, a major part of the funds to be raised would be through the power ventures.
• A whopping Rs 1,20,000 crore would go into creating thermal, hydro and gas-fired power plants.
• An estimated Rs 80,000 crore would be used for creating 20,000 MW of thermal generation capacity by 2015, Rs 30,000 crore for hydro and Rs 10,000 crore for gas-based projects.
• Besides, Reliance Power would raise Rs 50,000 crore in what will become the largest fund raising exercise in the corporate history of the country.
• Stock market also reacted positively to the announcements made by Ambani, although gains were modest for the shares of three group companies.
• Reliance Capital rose 0.3 per cent to close at Rs 814, RCOM gained 0.4 per cent to Rs 170.3, while R-Power rose the maximum by 1.7 per cent to close at Rs 163.25 at the BSE.
China's home-grown innovation drive stirs unease in the West
"We look to China to build our high-speed rail, to be part of the bidding process that we are going to go through," the state's governor, Arnold Schwarzenegger, said on a visit to Shanghai this month.
• Acceleration of the industrial upgrading that puts China on par with the likes of France and Japan to compete for the Californian contract will be a centerpiece of the country's five-year plan for 2011-2016 now being finalized.
• China already has in place five of a planned array of 35 satellites that will provide a navigation alternative to the U.S. Global Positioning System by 2020.
• By the same date, China expects to be converting more coal into oil, gas and chemicals than any other country.
• Embracing cutting-edge technologies will help further raise living standards in a country where 150 million people still live below the poverty line.
Emami ropes in Bipasha Basu as brand ambassador
NEW DELHI: While talks are on to rope in 'Munni' Malaika Arora Khan as the brand ambassador for Zandu Balm, FMCG firm Emami has signed up with 'Billo Rani' Bipasha Basu to endorse the company's brands for an undisclosed amount.
• According to industry analysts, Bipasha charges about Rs one crore per band endorsement for a period of two years.
• Emami is also in talks with Dabangg fame Malaika Arora Khan for its pain reliever 'Zandu Balm'.
• Emami also has a host of other Bollywood celebrities including Amitabh Bachchan, Shah Rukh Khan, Kareena Kapoor, Preity Zinta and Indian cricket team captain MS Dhoni on board as endorsers for various brands including Boro Plus, Navratna hair oil, Fair & Handsome, and Sona Chandi Chywanprash.
Tata Group in big expansion mode in Karnataka
Tata Group is on an expansion spree in Karnataka, with new projects of its companies at various stages, including the proposed 100-acre Tata Consultancy Service (TCS) campus here.
• Industry and Commerce Secretary V P Baligar said later that TCS has approached the Government to allot 100 acres to set up a campus at IT park in Deveanahalli on the outskirts of the city.
• Baligar said land acquisition for Tata Metaliks is Rs 15,000 crore, three million tonne annual capacity plant in Haveri is progressing smoothly.
• Tata Consulting Engineers would be allotted five acres of land for its project, while the Group's hotel business plans to set up two "Ginger" brand hotels in Belgaum and Hubli.
• Talking about various Tata Group projects, Muthuraman said "we have already submitted proposals. We came just for a review. Tatas are into many projects in Karnataka".
SC rejects plea to defer verdict on Ayodhya title suit case
Paving the way for the Allahabad High Court to deliver its judgement in the 60-year-old Ramjanambhoomi- Babri Masjid title suit, the Supreme Court on Tuesday dismissed the plea for deferment of the verdict.
• The apex court did not fix any date for the Allahabad High Court to give the verdict. It also did not specify any reason for its decision not to fix any date for the judgement to be delivered by the high court. However, the high court will pronounce the verdict on September 30 at 3.30 pm.
• The officer on special duty in the High Court, Hari Shankar Dubey said that the three-judge special bench comprising Justice S.U Khan, Sudhir Agarwal and D.V Sharma would pronounce the verdict.
Soon, computers to run on heat, rather than electricity
LONDON: Computers may soon be able to recycle part of their own waste heat, using a material being studied by researchers. The material is a semiconductor called gallium manganese arsenide.
• Researchers at the Ohio State University describe the detection of an effect that converts heat into a quantum mechanical phenomenon - known as spin - in a semiconductor.
• Once developed, the effect could enable integrated circuits that run on heat, rather than electricity.
• This research merges two cutting-edge technologies: thermo-electricity and spintronics.
• "Spintronics is considered as a possible basis for new computers in part because the technology is claimed to produce no heat.
New software for Arunachal treasuries
ITANAGAR: Arunachal Pradesh government has introduced new software for cost-friendly solution for government payment, receipt, personal ledger account/ e clearing system, e fund transfer payment.
• Finance Commissioner Swati Sharma said it would enhance checks at the receipt and payment levels which would make the compilation of accounts faster and easier.
• This would enable the government to submit its monthly accounts to the Accountant General in time.
• The purpose is to achieve transparency in the process of estimation, allocation, monitoring of budget and fiscal transaction.
• The software, developed on a secure Linux based platform, will be used in all treasuries and sub-treasuries.
Tuesday, September 28, 2010
Business Line - 28th September
Submitted by:
1) Aditi Sarma
2) Adrish Sen Sharma
3) Akshay Khandelwal
CORUS TO SPORT TATA STEEL LOGO
Tata Steel has decided to put its name and logo on all transactions such as locations,vehicles and product delivery of its European subsidiary Corus. Not everything will change immediately as re-branding is a gradual process. Tata Steel are among the top 10 steelmakers with a wide product range and this brand migration will lead to Tata Steel name become more prominent in the European markets.
REEBOK SEEKS LARGER FOOTPRINT WITH NEW PRODUCT OFFERINGS
Lifestyle sportswear brand Reebok India is looking to enter into micro-segments. They have been present in india for almost 15 yrs and are now trying enter into niche categories. New segments like personal care products are being added to their portfolio. Reebok is the largest sports footwear and apparel seller and has made its customer base by continously using digital media, social networking sites such as facebook. They are also associated with other sports events like Force India,tennis and football.
There target is to take the outlet numbers to 1000 by end of December without divulging any investment figures that would go into settling up of 100-odd stores.
LILLIPUT FORAYS INTO BABY CARE
Lilliput has entered into baby care markets with offerings ranging from shampoo,powder,oil to wipes and laundry liquids. The range of the products starts from Rs 95. India's rise in disposable income and increased awareness has led to rise in the babycare products industry. The new range of products would be available at all leading Lilliput and Lilliput World Stores and very soon in leading baby shops,departmental stores and pharma chains.
THE AYODHYA CONUNDRUM
A judicial decision on the ownership of the disputed land at Ayodhya cannot be put off any longer. The Supreme Court, which deferred on September 23 the Ayodhya verdict vis-a-vis a petition saying there is still a chance of reconciliation between Hindus and Muslims, will have to take a call on September 28. The best scenario that can be envisaged after the Ayodhya judgement is one of extraordinary gestures involving a mind-bending leap of faith, by both the communities that have a stake in the disputed land.
TAX BILL TO BE ISSUED TO VODAFONE:-
It is likely that vodafone will recieve a Tax bill of Rs.1200 crore plus within next four weeks.
The Supreme Court had ordered the I-T department on monday to quantify the amount of tax liability within 4 weeks.
This is in context to Vodafone's $11.1-billion deal with Hutch in 2007.
the Bench, comprised of Chief Justice, Mr S.H. Kapadia, and Mr Justice K. S. Radhakrishnan and Mr Justice Swatanter Kumar.
GARLIC PRICE SHOOT UP:
Garlic price shot upto a shocking Rs200/kg
Earlier this year, the prices dropped from a high of Rs 5,400 in February to Rs 2,500 in May
The price of garlic has shot up by 60% in the last 1 month
Two years ago the Government of India banned imports from China due to a disease in the Chinese garlic
As per SPICE BOARD figures, exports in April-August have increased by 327 per cent to 13,250 tonnes valued at Rs 498 crore from 3,100 tonnes valued at Rs 63.22 crore in the same period last year.
NEW SCHEME BY IDFC:-
IDFC Ltd is planning to raise up to Rs 3,400 crore through a retail issue of infrastructure bonds.
Investment of up to Rs 20,000 in these bonds will be tax exempt over and above tax exemption available on investments of Rs 1 lakh in other tax-savings schemes.
The first tranche of the issue opens on September 30 and closes on October 18.
Minimum 2 bonds or( Rs. 10,000) has to be bought by the investers
IDFC is looking to triple its balance sheet from Rs 35,000 crore to Rs 1 lakh crore.
It has a net worth of Rs 10,000 crore and a capital adequacy of 26 per cent
ULIPs
After nearly six months of uncertainty and confusion for policyholders and industry, the unit linked insurance plans(ULIPs) are back.
MONSOON WITHDRAWS FROM MORE PARTS OF NORTH-WEST INDIA:
South-West Monsoon has withdrawn from some parts of Punjab, Haryana, Rajasthan and Gujrat on Monday in what looks like the precursor to an unusually rapid exit from the entire upper half.
1) Aditi Sarma
2) Adrish Sen Sharma
3) Akshay Khandelwal
CORUS TO SPORT TATA STEEL LOGO
Tata Steel has decided to put its name and logo on all transactions such as locations,vehicles and product delivery of its European subsidiary Corus. Not everything will change immediately as re-branding is a gradual process. Tata Steel are among the top 10 steelmakers with a wide product range and this brand migration will lead to Tata Steel name become more prominent in the European markets.
REEBOK SEEKS LARGER FOOTPRINT WITH NEW PRODUCT OFFERINGS
Lifestyle sportswear brand Reebok India is looking to enter into micro-segments. They have been present in india for almost 15 yrs and are now trying enter into niche categories. New segments like personal care products are being added to their portfolio. Reebok is the largest sports footwear and apparel seller and has made its customer base by continously using digital media, social networking sites such as facebook. They are also associated with other sports events like Force India,tennis and football.
There target is to take the outlet numbers to 1000 by end of December without divulging any investment figures that would go into settling up of 100-odd stores.
LILLIPUT FORAYS INTO BABY CARE
Lilliput has entered into baby care markets with offerings ranging from shampoo,powder,oil to wipes and laundry liquids. The range of the products starts from Rs 95. India's rise in disposable income and increased awareness has led to rise in the babycare products industry. The new range of products would be available at all leading Lilliput and Lilliput World Stores and very soon in leading baby shops,departmental stores and pharma chains.
THE AYODHYA CONUNDRUM
A judicial decision on the ownership of the disputed land at Ayodhya cannot be put off any longer. The Supreme Court, which deferred on September 23 the Ayodhya verdict vis-a-vis a petition saying there is still a chance of reconciliation between Hindus and Muslims, will have to take a call on September 28. The best scenario that can be envisaged after the Ayodhya judgement is one of extraordinary gestures involving a mind-bending leap of faith, by both the communities that have a stake in the disputed land.
TAX BILL TO BE ISSUED TO VODAFONE:-
It is likely that vodafone will recieve a Tax bill of Rs.1200 crore plus within next four weeks.
The Supreme Court had ordered the I-T department on monday to quantify the amount of tax liability within 4 weeks.
This is in context to Vodafone's $11.1-billion deal with Hutch in 2007.
the Bench, comprised of Chief Justice, Mr S.H. Kapadia, and Mr Justice K. S. Radhakrishnan and Mr Justice Swatanter Kumar.
GARLIC PRICE SHOOT UP:
Garlic price shot upto a shocking Rs200/kg
Earlier this year, the prices dropped from a high of Rs 5,400 in February to Rs 2,500 in May
The price of garlic has shot up by 60% in the last 1 month
Two years ago the Government of India banned imports from China due to a disease in the Chinese garlic
As per SPICE BOARD figures, exports in April-August have increased by 327 per cent to 13,250 tonnes valued at Rs 498 crore from 3,100 tonnes valued at Rs 63.22 crore in the same period last year.
NEW SCHEME BY IDFC:-
IDFC Ltd is planning to raise up to Rs 3,400 crore through a retail issue of infrastructure bonds.
Investment of up to Rs 20,000 in these bonds will be tax exempt over and above tax exemption available on investments of Rs 1 lakh in other tax-savings schemes.
The first tranche of the issue opens on September 30 and closes on October 18.
Minimum 2 bonds or( Rs. 10,000) has to be bought by the investers
IDFC is looking to triple its balance sheet from Rs 35,000 crore to Rs 1 lakh crore.
It has a net worth of Rs 10,000 crore and a capital adequacy of 26 per cent
ULIPs
After nearly six months of uncertainty and confusion for policyholders and industry, the unit linked insurance plans(ULIPs) are back.
MONSOON WITHDRAWS FROM MORE PARTS OF NORTH-WEST INDIA:
South-West Monsoon has withdrawn from some parts of Punjab, Haryana, Rajasthan and Gujrat on Monday in what looks like the precursor to an unusually rapid exit from the entire upper half.
The Financial Express - 28th September
Submitted By:-
Shruti Sharma
Siddharth Singh
Sonu Bansal
Gr. No. 25
BSE Sensex 20117 ˄ 72
S&P CNX Nifty 6036 ˄ 17
Steel Minister Bets for PSU mine lease
PSU have a special place in India and they should be given prefrence how can one approve their expansion plans investing our own money and leave the raw material part hanging?
Virbhandra Singh (Steel Minister)
Yeild on 1 year T- bills hits 6.65%
The yeild on the one year treasury bill which had risen to 6.65% last week, the highest since Dec 08 rose further to 6.65% on monday. The market attributed the spike to higher than anticipated borrowing by Banks from the RBI at ` 68135 crore
NTPC bulk Tender for 800 MW Supercritical equipment by year end
NTPC expected to float to tender for ` 18000 crore contract for the bulk supply of 800 MW projects by december. The company however, is waiting for the approval from the power ministry. NTPC was supposed to finalise contract for 660 MW units in time to issue tender for the bulk supply of 800 MW units in july this year.
M & M to raise price of commercial vehicles
The Company will increase price of passengers and commercial vehicles by ` 3000 – ` 8000 to offset the rising costs of raw material and implementation of the new emission norms.
Sensex up 72 points on strong FIIs, global cue
The BSE Sensex closed higher on monday, for a second straight session, lifted by Robust Foreign Fund inflows and firm world equities on sign of US Economy recovers. The markets next trigger would be the September quarter earning season which began next month. The 50 share NSE Index was up 0.3% at 6035 points.
Reliance Communication to seek shareholders nod for fund raising plan today
ADAG Group Company Reliance Communication would raise $1 billion with an issue of upto 15% of its existing share capital.
The firms net debt is more than 4 times forecast earning before interest, tax, depreciation and amortization for the year to March,2011
Shruti Sharma
Siddharth Singh
Sonu Bansal
Gr. No. 25
BSE Sensex 20117 ˄ 72
S&P CNX Nifty 6036 ˄ 17
Steel Minister Bets for PSU mine lease
PSU have a special place in India and they should be given prefrence how can one approve their expansion plans investing our own money and leave the raw material part hanging?
Virbhandra Singh (Steel Minister)
Yeild on 1 year T- bills hits 6.65%
The yeild on the one year treasury bill which had risen to 6.65% last week, the highest since Dec 08 rose further to 6.65% on monday. The market attributed the spike to higher than anticipated borrowing by Banks from the RBI at ` 68135 crore
NTPC bulk Tender for 800 MW Supercritical equipment by year end
NTPC expected to float to tender for ` 18000 crore contract for the bulk supply of 800 MW projects by december. The company however, is waiting for the approval from the power ministry. NTPC was supposed to finalise contract for 660 MW units in time to issue tender for the bulk supply of 800 MW units in july this year.
M & M to raise price of commercial vehicles
The Company will increase price of passengers and commercial vehicles by ` 3000 – ` 8000 to offset the rising costs of raw material and implementation of the new emission norms.
Sensex up 72 points on strong FIIs, global cue
The BSE Sensex closed higher on monday, for a second straight session, lifted by Robust Foreign Fund inflows and firm world equities on sign of US Economy recovers. The markets next trigger would be the September quarter earning season which began next month. The 50 share NSE Index was up 0.3% at 6035 points.
Reliance Communication to seek shareholders nod for fund raising plan today
ADAG Group Company Reliance Communication would raise $1 billion with an issue of upto 15% of its existing share capital.
The firms net debt is more than 4 times forecast earning before interest, tax, depreciation and amortization for the year to March,2011
The Mint SUmmary - 28th September
Submitted By
Akash Bhatnagar
Akshay Zutshi
Aditya Khurana.
Leading News:
FII(Foreign institutional investors) buying in stocks hits lifetime high.
The main catalyst of the indian stock market has hit a new height on its bench marking equity index by trading 756 points away from its optimum.It was noticed on the index when it rised 72.20 points,and closed at 20117.38 on monday.
The net sales for this year by FII investments comes to a total amount of $17.96 billion.It was the highest in 17 years since the country allowed their entry.
Cheap money and lack of high growth options are the elements driving the total inflow into india.
Vodafone Tax Liability tops Rs. 12000 crores:CBDT
The income tax department formally inducted Rs. 12000 crore as the estimated tax inclusive of interest for late payment on vodafone international holdings,because as it failed to subtract tax on the money it paid to hutchison telecommunication international limited in 2007 to buy the majority in the indian telecommunication company hutchison essar limited.
The chairman of CBDT(Central board of direct taxes),Mr. S.S.N. Moorthy said that this is a case of which attracted worldwide attention.
Group of ministers raises Bhopal relief amount by Rs.72 crores.
It was noticed that the reconstituted group of ministers (GoM) dealing with bhopal gas tragedy met on monday an concluded to provide additional compensation of Rs. 72 crores to the casualties who havent recieved any type of such relief.This in return will be benifitial for about 4000 people.
The GoM also decided that the ones who havent received their compensation will be getting their dues by december and all the disputes related with the victims compensation would probably be dissolved by the March of next year.
Union home minister P. Chidambaram chaired the meeting attended by other ministers such as the enviorment minister – Jairam Ramesh,Law minister- Veerappa moily,Health minister – Ghulam nabi azad and officals from various ministries such as planning,urban,road,poverty alleviation ministers were present.
Finally,monsoon rains start withdrawing
It was came to be heard by national climate centre that the monsoon rains have finally started minimizing from the grain producing regions of northwest india.
The director of National climate centre Mr. D.Sivananda pai said that the monsoon have started withdrawing from some parts of northwest india,studies done at pune based centre which is a part of IMD(India meteorological department).
It was also revealed that the total rainfall in june-september has been found 3% escalated above normal.
Corporate News:
Himalaya plans to start selling hepatitis B drug by december.
Himalaya drug company which ended last year with the revenue of Rs. 1000 crores and is hoping to escalate this amont to Rs. 1300 crores.
All the legal formalities and approvals have been completed and the company is preparing for the launch of the new drug.
Apart from the various vaccines available for the hepatitis B in the market,the most unique feature of the drug offered by the himalaya co. is that it kills the virus rather than just stop it from multiplying .The deputy chairman of the co. Ravi prasad said that our herbal product would be safer and more affordable.
The Wall Street Journal:
China tightens checks on japanese goods
Chinese customs inspections in some cities have tightened checking of goods traded between china and japan within recent days.
It was reveled that the amount of goods being imported and exported from japan upto 100% of shipments,inspectors spot check only a handful sample of goods traded which is as low as 10%.
Since china is Japan's largest trading partner with around $138 billion imports and exports during the first half of 2010 and this sudden tightening on goods check have resulted in slow down and distorted activities from the companies in both countries.
Shippers said that inspections were largely frustated at this point,as goods were expected to clear only on a delayed timetable.
Akash Bhatnagar
Akshay Zutshi
Aditya Khurana.
Leading News:
FII(Foreign institutional investors) buying in stocks hits lifetime high.
The main catalyst of the indian stock market has hit a new height on its bench marking equity index by trading 756 points away from its optimum.It was noticed on the index when it rised 72.20 points,and closed at 20117.38 on monday.
The net sales for this year by FII investments comes to a total amount of $17.96 billion.It was the highest in 17 years since the country allowed their entry.
Cheap money and lack of high growth options are the elements driving the total inflow into india.
Vodafone Tax Liability tops Rs. 12000 crores:CBDT
The income tax department formally inducted Rs. 12000 crore as the estimated tax inclusive of interest for late payment on vodafone international holdings,because as it failed to subtract tax on the money it paid to hutchison telecommunication international limited in 2007 to buy the majority in the indian telecommunication company hutchison essar limited.
The chairman of CBDT(Central board of direct taxes),Mr. S.S.N. Moorthy said that this is a case of which attracted worldwide attention.
Group of ministers raises Bhopal relief amount by Rs.72 crores.
It was noticed that the reconstituted group of ministers (GoM) dealing with bhopal gas tragedy met on monday an concluded to provide additional compensation of Rs. 72 crores to the casualties who havent recieved any type of such relief.This in return will be benifitial for about 4000 people.
The GoM also decided that the ones who havent received their compensation will be getting their dues by december and all the disputes related with the victims compensation would probably be dissolved by the March of next year.
Union home minister P. Chidambaram chaired the meeting attended by other ministers such as the enviorment minister – Jairam Ramesh,Law minister- Veerappa moily,Health minister – Ghulam nabi azad and officals from various ministries such as planning,urban,road,poverty alleviation ministers were present.
Finally,monsoon rains start withdrawing
It was came to be heard by national climate centre that the monsoon rains have finally started minimizing from the grain producing regions of northwest india.
The director of National climate centre Mr. D.Sivananda pai said that the monsoon have started withdrawing from some parts of northwest india,studies done at pune based centre which is a part of IMD(India meteorological department).
It was also revealed that the total rainfall in june-september has been found 3% escalated above normal.
Corporate News:
Himalaya plans to start selling hepatitis B drug by december.
Himalaya drug company which ended last year with the revenue of Rs. 1000 crores and is hoping to escalate this amont to Rs. 1300 crores.
All the legal formalities and approvals have been completed and the company is preparing for the launch of the new drug.
Apart from the various vaccines available for the hepatitis B in the market,the most unique feature of the drug offered by the himalaya co. is that it kills the virus rather than just stop it from multiplying .The deputy chairman of the co. Ravi prasad said that our herbal product would be safer and more affordable.
The Wall Street Journal:
China tightens checks on japanese goods
Chinese customs inspections in some cities have tightened checking of goods traded between china and japan within recent days.
It was reveled that the amount of goods being imported and exported from japan upto 100% of shipments,inspectors spot check only a handful sample of goods traded which is as low as 10%.
Since china is Japan's largest trading partner with around $138 billion imports and exports during the first half of 2010 and this sudden tightening on goods check have resulted in slow down and distorted activities from the companies in both countries.
Shippers said that inspections were largely frustated at this point,as goods were expected to clear only on a delayed timetable.
SUMMARY FINANCIAL EXPRESS: 28th Sep 2010
Section I: Aditya Sawant, Anirban Dutta, Akash Dewan.
Steel minister bats for PSU mine leases :
Steel minister Virbhadra Singh demanded that long term iron ore mining leases be alloted to public sector steel makers on preferential basis.In case of SAIL , the government is spending Rs. 80,000 crore for its capacity expansion and the modernization of plant. Most of this was approved in 2005 , so huge investment will be fruitful when government provide long- term guarantee for raw materials. Steel minister also suggests that SAIL should look outside the country for their supplies . Also he is not against the 26% profit sharing concept but mechanism need to work out by mines ministry.
NAC members blast execution of NREGA , Call it 'anti-labour':
Members of the National Advisory Council( NAC) Aruna Roy and Jean Dreze have accused the UPA government for increasing anti-labour. As per them “ Contractor mafia” is dominating and decreasing the potential of remunerative employment. The government attitude faded the gains of employment guarantee programme. The establishment of Rajiv Gandhi Seva Kendras leads to silent entry of contractor mafia into NREGA as ratio of material and labour was 9:1. also the major problem was under calculation of wages. As per NAC the provisions of employee act are sidelined in order to keep control. Non registration of workers union with number of questionable excuses makes matter worst.
PIOs will get to purchase property in India faster:
The government of India has decided to permit person of Indian Origin(PIO) to buy property in India without mandatory approval from RBI ( except PIOs from Pakistan and Bangladesh. It is also working for removing gender discrepancy as per FEMA. For Foreigners registration of property is not allowed. Since India is highest recipient of NRI remittance. So high investment by NRI can be possible by this step in order to generate high capital to finance various projects.
Yield on 1 yr T-bills hits 6.65%.
The yield on treasury bill(T-bill) has sore to 6.65% on Monday. The high borrowing from RBI. As per experts the rates will slightly come down if bank borrow small amount from liquidity adjustment facility(LAF) window. Meanwhile there was growth of .03% in Certificate of Deposits(CD) trading at 8.10%. and it will continue to move on as per experts. The long term yield were flat on monday and rates on one year government debt has increased by 1.97%.
RBI tightens rules for bank Finance against shares:
The RBI has tightened the rules for banks extending loans to promoters against shares. Also the restrictions against granting advances for financing promoters are extended and applicable to overseas branches/subsidiaries of Indian banks. But they can extend the financial assistance to Indian companies for acquisition of equity in overseas.
NTPC set to float Rs.18k-cr tender fos 800mw projects.:
NTPC expected to flat tender for Rs. 18K-cr contrat for the bulk supply of 800mw projects by december. The company is waiting for the approval from ministry. NTPC chairman Arup Roy Chaudhari said that NTPC similar tendering for the supply of 660mw super critical equipment is under a way.
Corus gets Tata Steel names, logo:
UK based subsidiary , europs second largetst steel producer Corus has changed its named to Tata steel on monday.
Private sector bank pip PSB peers in profit per employee:
From last 2 years it was found that the productivity of private banks was higher than nationalize banks. The avg profit per employee was higher (7.19lakh) than nationalize banks( 5.74 lakh). As per 2009-10 records Yes bank has highest productivity (15.75 lakh) while Bank of india has least ( 4.39 lakh) productivity.
Market Snapshot:
BSE: open: 20082.26 Closed: 20117.38
Nifty: Open:6018.30 Closed: 6035.65
Maximum Turnover : IT& ES sector (BSE) Banks ( NSE)
Imortant deals News:
1.Uniliver to buy Alberto For $3.7 billion:
Uniliver has agreed to buy Alberto Culver for $3.7 billion in cash. This is going to be companies biggest purchase in decades.
2.Wal-Marts likely to aquire Massmart in $4.2 bn deal.
Wal mart stores palns to buy Massmart Holdings for 29.8 billions rand. In this transaction it would added 290 stores in 13 African countries.
Steel minister bats for PSU mine leases :
Steel minister Virbhadra Singh demanded that long term iron ore mining leases be alloted to public sector steel makers on preferential basis.In case of SAIL , the government is spending Rs. 80,000 crore for its capacity expansion and the modernization of plant. Most of this was approved in 2005 , so huge investment will be fruitful when government provide long- term guarantee for raw materials. Steel minister also suggests that SAIL should look outside the country for their supplies . Also he is not against the 26% profit sharing concept but mechanism need to work out by mines ministry.
NAC members blast execution of NREGA , Call it 'anti-labour':
Members of the National Advisory Council( NAC) Aruna Roy and Jean Dreze have accused the UPA government for increasing anti-labour. As per them “ Contractor mafia” is dominating and decreasing the potential of remunerative employment. The government attitude faded the gains of employment guarantee programme. The establishment of Rajiv Gandhi Seva Kendras leads to silent entry of contractor mafia into NREGA as ratio of material and labour was 9:1. also the major problem was under calculation of wages. As per NAC the provisions of employee act are sidelined in order to keep control. Non registration of workers union with number of questionable excuses makes matter worst.
PIOs will get to purchase property in India faster:
The government of India has decided to permit person of Indian Origin(PIO) to buy property in India without mandatory approval from RBI ( except PIOs from Pakistan and Bangladesh. It is also working for removing gender discrepancy as per FEMA. For Foreigners registration of property is not allowed. Since India is highest recipient of NRI remittance. So high investment by NRI can be possible by this step in order to generate high capital to finance various projects.
Yield on 1 yr T-bills hits 6.65%.
The yield on treasury bill(T-bill) has sore to 6.65% on Monday. The high borrowing from RBI. As per experts the rates will slightly come down if bank borrow small amount from liquidity adjustment facility(LAF) window. Meanwhile there was growth of .03% in Certificate of Deposits(CD) trading at 8.10%. and it will continue to move on as per experts. The long term yield were flat on monday and rates on one year government debt has increased by 1.97%.
RBI tightens rules for bank Finance against shares:
The RBI has tightened the rules for banks extending loans to promoters against shares. Also the restrictions against granting advances for financing promoters are extended and applicable to overseas branches/subsidiaries of Indian banks. But they can extend the financial assistance to Indian companies for acquisition of equity in overseas.
NTPC set to float Rs.18k-cr tender fos 800mw projects.:
NTPC expected to flat tender for Rs. 18K-cr contrat for the bulk supply of 800mw projects by december. The company is waiting for the approval from ministry. NTPC chairman Arup Roy Chaudhari said that NTPC similar tendering for the supply of 660mw super critical equipment is under a way.
Corus gets Tata Steel names, logo:
UK based subsidiary , europs second largetst steel producer Corus has changed its named to Tata steel on monday.
Private sector bank pip PSB peers in profit per employee:
From last 2 years it was found that the productivity of private banks was higher than nationalize banks. The avg profit per employee was higher (7.19lakh) than nationalize banks( 5.74 lakh). As per 2009-10 records Yes bank has highest productivity (15.75 lakh) while Bank of india has least ( 4.39 lakh) productivity.
Market Snapshot:
BSE: open: 20082.26 Closed: 20117.38
Nifty: Open:6018.30 Closed: 6035.65
Maximum Turnover : IT& ES sector (BSE) Banks ( NSE)
Imortant deals News:
1.Uniliver to buy Alberto For $3.7 billion:
Uniliver has agreed to buy Alberto Culver for $3.7 billion in cash. This is going to be companies biggest purchase in decades.
2.Wal-Marts likely to aquire Massmart in $4.2 bn deal.
Wal mart stores palns to buy Massmart Holdings for 29.8 billions rand. In this transaction it would added 290 stores in 13 African countries.
Business Standard - 28th September
SUBMITTED BY
AKANKSHA BAHUGUNA
ABHISHEK KHARE
AKSHAY SHARMA
SEC-G
SENSEX- 20117.38
NIFTY -6035.65
FRONT PAGE
VODAFONE FACES Rs 12K-CRORE TAXBILL,AS SC REJECTS PLEA
Income tax department to issue fresh notice in four weeks.confirmed centralboard of Direct Taaxes Chairman SSN Moorthy .
the share price of vodafone plc,however fell on the london stock exchange by 1.90% at the time of going to press,and was trading as around1.59 pound.
CLEAN TECH TO GREENBACKS
Berkshire Hathaway CHARMAN warren Buffett arrives for a BYD event in Shenzhen,China,on Monday.Hathway has profited handsomely from a
10% stake it own in BYD,which is at the venguard of electric-car technology.
Wen to visit in december,as india hosts the world's who's who
Chinese Prime Minister Wen Jiabao's decision to visit comes at a touchy time in India-China relation,with Prime Minister Manmohan Singh expressing concern about China's new assertiveness with respect to India
COMPAINES
GOVT'S LATEST MINE PROFIT SHARING PLAN FACES HEAT
Firms share revenue sharing with locals is noble but not practical
India's top three mining companies-coal India,NMDC and cesa goa will add rupees 36000crore to district development fund if the 36% profit sharing proprosal with local resident goes though.That's almost half the disinvestment proceedes from the REC,NHPC and Oil India follow on offers in 2009-10.
Delisting concerns spook Satyam stock
Many investers have sought details on circumstances under which the delisting decision was taken and the companies planned road map for merger with Tech Mahindra.
The Mahindra Satyam stock slumped 4% to rs 96.45 on the Bombay stock exchange today amid reports that important stack holders have expressed concern over the company's decision to Delhits its American depositary receipts (ADRs) from th New York stock exchange.Chairman Vineet Nayyar told tv chanells today that Mahendra Satyam ADRs would continue to trade on the over the counter exchange of India adding that the decision to Delhits was voluntary,so that trade would continue.
TV channels bet on mega stars to garner Rs270 crore.
The KBC will startsfrom 11oct at 9pm from Monday to Tuesday on Sony tv.Make the ad-s;ots Rs3.5 lakh each 10 second and some rate ad-slots for Sony and colors.
SPICEJET TO DOUBLE FLEET BY END-2013
Says international foray's contrbution will increase top line 12%
Gurgaon based low cost career spice jet said today it would double its current 22 plane fleet by the end of 2013.It also said that projected contribution from its international opreations which the airline would next month,was likely to increase its top line by 10 to 12%.
Bharti Retail to enter western India soon
Property consultants say Bharti is also planing to open stores in the south and has signed half a dozen stores in the region.It has signed a 60,000 sq ft store in the neptune magnet mall of the city's bhandhup area and this is expected to open in the first quarter of 2011,after Mumbai the retailers plans to open 20 more stores in cities such as Mumbai,Pune and Nanded.
POLITICS AND PUBLIC AFFAIRS
Govt presses India increased on job quota for sc/sts
The Indian Govt want to job quota for SC/STs in the private sector .they want to quarterly report to be submitted to the departmentor industrial policy and promotion of industry ministry .
The UPA Govt wants to make a rule at reservation to sc/sts for the job in private sector is compulsory.
IIM -A to share placement experience.
The Indian institute of management ,ahemdabad,for the first time,will invite top B-schools in the country to be the part of its new placement process and under stand the same.
IIM-A decided to adopt the cohort based placement process to give students more time to learn about the nature of jobs they are being offered.
SC TO HEAR PLEA ON AYODHYA TODAY
runing out reconcilation,Sunni Central Waqf Board and Akhil Bharat Hindu Mahasabha tittle suit verdict by the Allahabad High Court should not be delayed further as the Supreme court perpared to hear tomorow the plea to defer the judgement.
ECONOMY
MERCHANDISE EXPORTS HIT PLATEAU
India's merchandise exports are increasegly becoming flat,with the monthly figurs hovering in the range of $16 to $18billion,without much increase in the terms of volume while on the one hand exporters blame the goverment's faulty policy measures for making exports uncompetative anlysts believe they are becoming range bound.
INTERNATIONAL
US MOVE ON LIQUIDATION POWER FOR GOVT DELAYED
US banking regulators on monday said we are delaying the proposal that would begin putting into the place how the govt would use its new authority to dismental large collapsing financial companies FDIC said it is slowing down the proposal one of the main element of the recently passed financial reform law to give other regulators and industry more time to review it.
US TREASURY PREPARING AIG EXIT, REPAYMENT PLAN.
The Govt is seeking to dispose of its AIG stake CEO Robert ban mosche prepared the divestitures of two non US divisons that he said would largely repay the firms federal reserve credit line.
UNILEVER AIMS FOR BIG HAIR DAY WITH ACQUISITION OF ALBERTO CULVER
Consumer goods unilever will buy US hair and skincare company ALBERTO CULVER for 3.7 billion latest move to rebalance its portfalio towards higher growth lines .unilever biggest acquisition in a decade will add brands such as v05 tresemme and nexxus to unilever existing the dove and sunsilk and make it the world leading company in hair conditioning and second largest shampoo.
ISSUES AND INSIGHTS
A LITTLE DECORUM,PLEASE
Jyoti basu would greamble but never deviate from the protocols expected of him as CM of west bengal for well over two decades basu had to deal with several PM belonging to diffrent parts basu was a towering national leader and senior to all the PM who ruled at the central while he ran the west bengal govt politically also basu belong to left while all the PM had to deal other end of spectrum and with many of them his relations where less than cordial.
MONEY AND MARKETS
FII INFLOWS CROSS 18$ BILLION IN 2010
FIIs have invested about $18 billion in Indian Stock in 2010 it is highest investment in dollar terms in a year. FII net purchases worth $17.89 billion till friday acc to data available on the securities and sebi prata on the BSE website show they net bought shares rs.1136.8 crore in Indian market today the highest FII in both dollar and rupees terms was last year when they had invested 17.6 billion $.
FINANCE
HDFC TO RAISE 34 CRORE RUPEES FROM INFRASTRUCTURER BONDS
IDFC plans to raise upto 34 hundred crore rupees through the 10 year retail bonds will be open at oct1 to 18 MD Mr. RAJEEV LAL said our aim is to grow compound annual growth rate 35-40 % over the next 4 years the balance sheet of IDFC 35 thousand crore rupees it is a first company to newly created of non-bank financial company .IDFC currently raised 750$ equity capital by the place of shares with oversees and Indian investors the MD says we have taken permission by the govt to raise upto 34 hundred crore till at the end of march.
AKANKSHA BAHUGUNA
ABHISHEK KHARE
AKSHAY SHARMA
SEC-G
SENSEX- 20117.38
NIFTY -6035.65
FRONT PAGE
VODAFONE FACES Rs 12K-CRORE TAXBILL,AS SC REJECTS PLEA
Income tax department to issue fresh notice in four weeks.confirmed centralboard of Direct Taaxes Chairman SSN Moorthy .
the share price of vodafone plc,however fell on the london stock exchange by 1.90% at the time of going to press,and was trading as around1.59 pound.
CLEAN TECH TO GREENBACKS
Berkshire Hathaway CHARMAN warren Buffett arrives for a BYD event in Shenzhen,China,on Monday.Hathway has profited handsomely from a
10% stake it own in BYD,which is at the venguard of electric-car technology.
Wen to visit in december,as india hosts the world's who's who
Chinese Prime Minister Wen Jiabao's decision to visit comes at a touchy time in India-China relation,with Prime Minister Manmohan Singh expressing concern about China's new assertiveness with respect to India
COMPAINES
GOVT'S LATEST MINE PROFIT SHARING PLAN FACES HEAT
Firms share revenue sharing with locals is noble but not practical
India's top three mining companies-coal India,NMDC and cesa goa will add rupees 36000crore to district development fund if the 36% profit sharing proprosal with local resident goes though.That's almost half the disinvestment proceedes from the REC,NHPC and Oil India follow on offers in 2009-10.
Delisting concerns spook Satyam stock
Many investers have sought details on circumstances under which the delisting decision was taken and the companies planned road map for merger with Tech Mahindra.
The Mahindra Satyam stock slumped 4% to rs 96.45 on the Bombay stock exchange today amid reports that important stack holders have expressed concern over the company's decision to Delhits its American depositary receipts (ADRs) from th New York stock exchange.Chairman Vineet Nayyar told tv chanells today that Mahendra Satyam ADRs would continue to trade on the over the counter exchange of India adding that the decision to Delhits was voluntary,so that trade would continue.
TV channels bet on mega stars to garner Rs270 crore.
The KBC will startsfrom 11oct at 9pm from Monday to Tuesday on Sony tv.Make the ad-s;ots Rs3.5 lakh each 10 second and some rate ad-slots for Sony and colors.
SPICEJET TO DOUBLE FLEET BY END-2013
Says international foray's contrbution will increase top line 12%
Gurgaon based low cost career spice jet said today it would double its current 22 plane fleet by the end of 2013.It also said that projected contribution from its international opreations which the airline would next month,was likely to increase its top line by 10 to 12%.
Bharti Retail to enter western India soon
Property consultants say Bharti is also planing to open stores in the south and has signed half a dozen stores in the region.It has signed a 60,000 sq ft store in the neptune magnet mall of the city's bhandhup area and this is expected to open in the first quarter of 2011,after Mumbai the retailers plans to open 20 more stores in cities such as Mumbai,Pune and Nanded.
POLITICS AND PUBLIC AFFAIRS
Govt presses India increased on job quota for sc/sts
The Indian Govt want to job quota for SC/STs in the private sector .they want to quarterly report to be submitted to the departmentor industrial policy and promotion of industry ministry .
The UPA Govt wants to make a rule at reservation to sc/sts for the job in private sector is compulsory.
IIM -A to share placement experience.
The Indian institute of management ,ahemdabad,for the first time,will invite top B-schools in the country to be the part of its new placement process and under stand the same.
IIM-A decided to adopt the cohort based placement process to give students more time to learn about the nature of jobs they are being offered.
SC TO HEAR PLEA ON AYODHYA TODAY
runing out reconcilation,Sunni Central Waqf Board and Akhil Bharat Hindu Mahasabha tittle suit verdict by the Allahabad High Court should not be delayed further as the Supreme court perpared to hear tomorow the plea to defer the judgement.
ECONOMY
MERCHANDISE EXPORTS HIT PLATEAU
India's merchandise exports are increasegly becoming flat,with the monthly figurs hovering in the range of $16 to $18billion,without much increase in the terms of volume while on the one hand exporters blame the goverment's faulty policy measures for making exports uncompetative anlysts believe they are becoming range bound.
INTERNATIONAL
US MOVE ON LIQUIDATION POWER FOR GOVT DELAYED
US banking regulators on monday said we are delaying the proposal that would begin putting into the place how the govt would use its new authority to dismental large collapsing financial companies FDIC said it is slowing down the proposal one of the main element of the recently passed financial reform law to give other regulators and industry more time to review it.
US TREASURY PREPARING AIG EXIT, REPAYMENT PLAN.
The Govt is seeking to dispose of its AIG stake CEO Robert ban mosche prepared the divestitures of two non US divisons that he said would largely repay the firms federal reserve credit line.
UNILEVER AIMS FOR BIG HAIR DAY WITH ACQUISITION OF ALBERTO CULVER
Consumer goods unilever will buy US hair and skincare company ALBERTO CULVER for 3.7 billion latest move to rebalance its portfalio towards higher growth lines .unilever biggest acquisition in a decade will add brands such as v05 tresemme and nexxus to unilever existing the dove and sunsilk and make it the world leading company in hair conditioning and second largest shampoo.
ISSUES AND INSIGHTS
A LITTLE DECORUM,PLEASE
Jyoti basu would greamble but never deviate from the protocols expected of him as CM of west bengal for well over two decades basu had to deal with several PM belonging to diffrent parts basu was a towering national leader and senior to all the PM who ruled at the central while he ran the west bengal govt politically also basu belong to left while all the PM had to deal other end of spectrum and with many of them his relations where less than cordial.
MONEY AND MARKETS
FII INFLOWS CROSS 18$ BILLION IN 2010
FIIs have invested about $18 billion in Indian Stock in 2010 it is highest investment in dollar terms in a year. FII net purchases worth $17.89 billion till friday acc to data available on the securities and sebi prata on the BSE website show they net bought shares rs.1136.8 crore in Indian market today the highest FII in both dollar and rupees terms was last year when they had invested 17.6 billion $.
FINANCE
HDFC TO RAISE 34 CRORE RUPEES FROM INFRASTRUCTURER BONDS
IDFC plans to raise upto 34 hundred crore rupees through the 10 year retail bonds will be open at oct1 to 18 MD Mr. RAJEEV LAL said our aim is to grow compound annual growth rate 35-40 % over the next 4 years the balance sheet of IDFC 35 thousand crore rupees it is a first company to newly created of non-bank financial company .IDFC currently raised 750$ equity capital by the place of shares with oversees and Indian investors the MD says we have taken permission by the govt to raise upto 34 hundred crore till at the end of march.
THE FINANCIAL EXPRESS – 28 TH SEPTEMBER
Submitted by
Anusuya R,
Sowjanya Kumari B,
Swapnil Anand.
(SECTION I)
STEEL MINISTER BATS FOR PSU MINE LEASES:
Steel Minister Virbhadra Singh demanded that long term Iron ore mining leases be allotted to public sector steel makers on a preferential basis.
According to Singh, the Government should allocate leases to private steel makers only after the PSU’S requirement are taken care of as PSU’S have a special place in India.
Among PSU steel-makers, SAIL has captive mines but needs more ore since it is expanding operations while RINL does not have any captive mines as on date.
NAC MEMBERS BLAST EXECUTION OF NREGA,CALL IT “ANTI-LABOUR”:
Members of the National Advisory Council (NAC) Arun Roy and Jean Dreze have accused the UPA government of being “increasingly anti labour” in their assessment of the National Rural Employment Guarantee Programme, on its fifth anniversary.
According to Roy and Dreze, contractors are taking advantage of state largesse to siphon off a major part of the funds for procurement of building material.
The most glaring example for this the construction of Rajiv Gandhi Sewa Kendra in every gram panchayat which is the back entry for the contractor mafia to make their way in to the NREGA.
US AGENCIES TO TIGHTEN INTERNET WIRETAPS:
Nowadays people are communicating more through online than through phone. So it became difficult to trap the illegal or criminal activities.
Thus Federal law enforcement and National security officials are producing some new regulations for the internet security.
To achieve the task which implies that encrypted messages can be intercepted ( it is easy to track the messages in social networking sites like facebook, orkut and peer-to-peer messaging services like skype) people are concerning about this issue.
And also they should make sure that privacy should be considered in all issues.
FILM INDUSTRY SEEKS SERVICE TAX LEEWAY FROM FINMIN:
The film and music industry is already burdened by VAT and now there is imposition of additional tax. It increases their burden and makes them in critical mode.
Any increase in service tax leads to higher prices of movie tickets. The service tax is charged at 10.3%.
Film industry requested that entertainment tax should be subsumed in the GST(Goods and Service Tax)
But finally if it will be entertained, the states have to lose the revenue.
BANKRUPT LEHMAN RAISES $12.3M FROM ART SALE;HIRST FINDS NO TAKERS:
The article is about the auction underway at Lehman Bother’s artwork collection at sotheyby’s tancarpeted sale room last week.
The auction attracted a typical blend of loafer-clad finance types, majority of which were there to observe but not to bid.
The bankrupt Lehman raises $12.3m from art sales but Hirst finds no takers for that.
Even though the bidding was dominated by serious contemporary art collectors only a smattering of Wall Streeters were attracted by the Lehman history.
Anusuya R,
Sowjanya Kumari B,
Swapnil Anand.
(SECTION I)
STEEL MINISTER BATS FOR PSU MINE LEASES:
Steel Minister Virbhadra Singh demanded that long term Iron ore mining leases be allotted to public sector steel makers on a preferential basis.
According to Singh, the Government should allocate leases to private steel makers only after the PSU’S requirement are taken care of as PSU’S have a special place in India.
Among PSU steel-makers, SAIL has captive mines but needs more ore since it is expanding operations while RINL does not have any captive mines as on date.
NAC MEMBERS BLAST EXECUTION OF NREGA,CALL IT “ANTI-LABOUR”:
Members of the National Advisory Council (NAC) Arun Roy and Jean Dreze have accused the UPA government of being “increasingly anti labour” in their assessment of the National Rural Employment Guarantee Programme, on its fifth anniversary.
According to Roy and Dreze, contractors are taking advantage of state largesse to siphon off a major part of the funds for procurement of building material.
The most glaring example for this the construction of Rajiv Gandhi Sewa Kendra in every gram panchayat which is the back entry for the contractor mafia to make their way in to the NREGA.
US AGENCIES TO TIGHTEN INTERNET WIRETAPS:
Nowadays people are communicating more through online than through phone. So it became difficult to trap the illegal or criminal activities.
Thus Federal law enforcement and National security officials are producing some new regulations for the internet security.
To achieve the task which implies that encrypted messages can be intercepted ( it is easy to track the messages in social networking sites like facebook, orkut and peer-to-peer messaging services like skype) people are concerning about this issue.
And also they should make sure that privacy should be considered in all issues.
FILM INDUSTRY SEEKS SERVICE TAX LEEWAY FROM FINMIN:
The film and music industry is already burdened by VAT and now there is imposition of additional tax. It increases their burden and makes them in critical mode.
Any increase in service tax leads to higher prices of movie tickets. The service tax is charged at 10.3%.
Film industry requested that entertainment tax should be subsumed in the GST(Goods and Service Tax)
But finally if it will be entertained, the states have to lose the revenue.
BANKRUPT LEHMAN RAISES $12.3M FROM ART SALE;HIRST FINDS NO TAKERS:
The article is about the auction underway at Lehman Bother’s artwork collection at sotheyby’s tancarpeted sale room last week.
The auction attracted a typical blend of loafer-clad finance types, majority of which were there to observe but not to bid.
The bankrupt Lehman raises $12.3m from art sales but Hirst finds no takers for that.
Even though the bidding was dominated by serious contemporary art collectors only a smattering of Wall Streeters were attracted by the Lehman history.
Tribune Summary - 28th September
SUBMITTED BY-
GROUP 2,SEC E
AKANKSHA SINGHWAL
ADITYA SINGH
AMOL SONTAKKEY
BUSINESS
1) KUWAIT PETROLEUM EYES STAKE IN IOC- oil minister (Kuwait) sheikh Ahmad Al-Abdullah Al-Sabah has said that Kuwait is keen on buying a stake in IOC, since the Indian govt. is planning to sell its 10% stake in IOC through a public offering.
2) UNILEVER BUYS ALBERTO CULVER FOR $3.7BN- To increase its global share in hair-care and skin care category, Unilever will buy a US- based Alberto culver co. for $3.7bn.
3) NO STAY ON SC NOTICE TO CENTRE ON VODAFONE TAX PLEA- through income tax department. SC issued notice to the centre on Vodafone’s plea against its tax liability of Rs. 12000 cr. on its $11bn.
4) WALLMART offered more than $ 4bn for south African wholesaler MASSMART for expanding its share in fast-growing Africa.
5) JIVO TO INVEST Rs 40 CR. IN 3 BOTTLING PLANTS-
In Viruddhnagar, Mumbai and Sangrur .And they target a turnover of Rs 100 cr. by 2012-13.
6) MERCEDEZ BENZ TO SET UP UNIT FOR BUSES AT PUNE.
Previously they were engaged in building bus chassis, now planning to set up a plant for bus body-building.
WORLD
1) INDIA , B’DESH AGREE TO COMBAT INFILTRATION-
Mutually decided to cooperate to combat illegal infiltration, smuggling of narcotics and prevent casualties in cross border firing.
2) DAVID MILIBAND brother of Britain’s opposition party labour party leader ED MILIBAND may quit politics.
3) NATO copters strike in Pakistan, 53 Taliban fighters killed for self-defence near Waziristan border.
4) SUPERBUG, a new cyber-weapon, threatens Chinese security, is attempting to infiltrate factory pc’s in china’s key industries.
SPORTS
1) The CFI dropped a bombshell on 3 TOP CYCLISTS Hitraj Singh, Gurbaz Singh and Paramjeet Singh from the common wealth games without assigning any reason.
2) NADA fixes Oct 21 as next date of hearing of doping case against wrestlers - Raju Tomer, Sumit, Mausam khatri, and women wrestler Gursharan Preet Kaur. Replacements have been declared.
3) MIKE FENNELL backed colleague MIKE HOOPER, saying he neither blamed the Indian govt. for Delhi’s under pre-paredness nor made any disparaging comments about Indians.
4) SURESH KALMADI “Much criticized athletes village problems have been sorted out.”
5) SANIA MIRZA back on track for Common wealth games.
NATION
1) AYODHYA: SC verdict on deferment plea today- headed by S.H.KAPADIA is set for crucial hearing on whether to further defer the Allahabad high court judgment on Ayodhya case.
2) Schools reopen in Kashmir after 3 months as they were shut down because of clashes between security forces and rock throwing crowds.
3) ISI chief told CIA that his rouge elements were behind 26/11,but it was not an authorized operation.
GROUP 2,SEC E
AKANKSHA SINGHWAL
ADITYA SINGH
AMOL SONTAKKEY
BUSINESS
1) KUWAIT PETROLEUM EYES STAKE IN IOC- oil minister (Kuwait) sheikh Ahmad Al-Abdullah Al-Sabah has said that Kuwait is keen on buying a stake in IOC, since the Indian govt. is planning to sell its 10% stake in IOC through a public offering.
2) UNILEVER BUYS ALBERTO CULVER FOR $3.7BN- To increase its global share in hair-care and skin care category, Unilever will buy a US- based Alberto culver co. for $3.7bn.
3) NO STAY ON SC NOTICE TO CENTRE ON VODAFONE TAX PLEA- through income tax department. SC issued notice to the centre on Vodafone’s plea against its tax liability of Rs. 12000 cr. on its $11bn.
4) WALLMART offered more than $ 4bn for south African wholesaler MASSMART for expanding its share in fast-growing Africa.
5) JIVO TO INVEST Rs 40 CR. IN 3 BOTTLING PLANTS-
In Viruddhnagar, Mumbai and Sangrur .And they target a turnover of Rs 100 cr. by 2012-13.
6) MERCEDEZ BENZ TO SET UP UNIT FOR BUSES AT PUNE.
Previously they were engaged in building bus chassis, now planning to set up a plant for bus body-building.
WORLD
1) INDIA , B’DESH AGREE TO COMBAT INFILTRATION-
Mutually decided to cooperate to combat illegal infiltration, smuggling of narcotics and prevent casualties in cross border firing.
2) DAVID MILIBAND brother of Britain’s opposition party labour party leader ED MILIBAND may quit politics.
3) NATO copters strike in Pakistan, 53 Taliban fighters killed for self-defence near Waziristan border.
4) SUPERBUG, a new cyber-weapon, threatens Chinese security, is attempting to infiltrate factory pc’s in china’s key industries.
SPORTS
1) The CFI dropped a bombshell on 3 TOP CYCLISTS Hitraj Singh, Gurbaz Singh and Paramjeet Singh from the common wealth games without assigning any reason.
2) NADA fixes Oct 21 as next date of hearing of doping case against wrestlers - Raju Tomer, Sumit, Mausam khatri, and women wrestler Gursharan Preet Kaur. Replacements have been declared.
3) MIKE FENNELL backed colleague MIKE HOOPER, saying he neither blamed the Indian govt. for Delhi’s under pre-paredness nor made any disparaging comments about Indians.
4) SURESH KALMADI “Much criticized athletes village problems have been sorted out.”
5) SANIA MIRZA back on track for Common wealth games.
NATION
1) AYODHYA: SC verdict on deferment plea today- headed by S.H.KAPADIA is set for crucial hearing on whether to further defer the Allahabad high court judgment on Ayodhya case.
2) Schools reopen in Kashmir after 3 months as they were shut down because of clashes between security forces and rock throwing crowds.
3) ISI chief told CIA that his rouge elements were behind 26/11,but it was not an authorized operation.
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