FINANCIAL EXPRESS 16th October

Submitted by:

GROUP NO. 10

Khalid Ahmed

Kirandeep Lamba

Krishna kumar

Section I

MAIN NEWS HEADLINES

RIL raise $1.5 through dollar bonds.

• It sold bond denominated in US dollars.

• Largest US dollar bond issue by any Asian entity since 2003.

• Marks Reliance Return to global market.

2. Infosys net profit rises 13% in Q2

• Infosys technologies, I ndia's second largest software exporter ,overshot market expectations on friday,posting a 13% rise in net profit year on year and 16.7% growth on a sequential basis.

• It increased its annual revenue forecast to $5.59-6 billions up 26-27%.

  CORPORATE & MARKET

1. Infosys report a 13% rise in net profit

• Business grow by large transformational telecom deal in Europe,

  manufacturing business in US an improvement in BFSI vertical in

  Australia and India.

2. TATA to retain all the three Jaguar Land Rover(JLR) plant in UK

• Creating thousands of job .

• Sales increase by 38%

3. Supreme Court to denote if Infosys will here its sole right over the word “Infosys”

• Their trade mark were challenged by Jupiter, a computer hardware company.

4. Sensex fell to the lowest close in the month

• Full down by 373 points.

5. Coal India's IPO of up to $3.5 billlion shares sale the country's largest ever ,next week.

6. FIIs high stake in 14 out of 16 sensex companies.

• Some companies include SBI,HDFC,ACC and TATA POWER.

• Bharat heavy electricals,the only sensex company where FIIs has reduced their stake.

POLITICS

1. CWG problem begins :

• Controller and editor general resumes responsibility of auditing the

  spending of public money.

• Organising committee not invited at PM's meet with a medal winner.

2. Sonia Gandhi address a mammoth rally here-80 kms away from Nagpur-

   to mark the conclusion of Sadhbhavna week.

3. RJD and LJP launched joined campaign for Rabri Devi.

• Handed by RJD chief Lalu Prasad Yadav and LJP chief Ramvilas Paswan

  on friday.

• Both the leaders addressed the joined rally and accused the Nitish Kumar govt

  of being an “epitome of corruption”.

MONEY AND BANKING

1. RBI to intervene if FIIs inflows are lumpy and volatile.

• To examine data and inflation which has risen to

  8.62 % in september.

2. Rupee touches the strongest level in 2 year.

• Also appreciates due to Coal India IPO.

3. RBI to look into Micro Finance functioning.

• SKS Microfinance to reduce interest rates by 2% ,provided there is a

  directive by RBI.

SPORTS

CWG CLOSING CEREMONY A BIG DAMPENER

• The opening extravaganza on October 3 had showcased thousands of years of Indian civilisation and culture but all the fame and glory of indian culture was swept away as the games marred by corruption, inefficiency, mismanagement and delays.

• Then after the presentation made by next host Scotland was probably the best part of the closing ceremony witnessed by a packed crowd of some 60,000 fans at the Jawaharlal Nehru stadium along with the “vande mataram”item presented by Delhi school children

• The only time that the world's largest helium balloon actually came alive in all its colours was the 'golden moment' of the game and when the stocks performed.

• One of the eye praising moments of the opening ceremony was that the aerostat had captivated everyone inside the stadium.

• Top singers like Sukhwinder Singh, Sunidhi Chauhan, Kailash Kher, Usha Uthup, Shaan, Ila Arun, Shobha Mudgul, and Shankar Mahadevan lent a touch of Punjabi wedding ambience when they crooned some popular numbers.

Mint October 16th October

Submitted by
Himanshu Kanojia


Taittinger: The bubbly Businessman
Pierre Emmanuel Taittinger, President of Champagne “Taittinger” was a family that had owned many businesses for generations. In 2005 they decided to sell out but he opposed to the deal, and decided to bid to buy the champagne business.
In his three day trip to India he has tied up with Prestige Wine and Spirits pvt ltd and is launching his champagne here in India because he wants to make Taittinger present in all the good places in the world.
He has been travelling the world and selling his eponymous champagne for about 32 years. He started as a salesman paid only on commission, not even compensated for expenses for 5 years.
According to article he said that “I will die one day but the champagne will go on” but when in the next instance he raised a toast and said
“today we don’t speak enough about pleasure we are far too serious with life but we have to make love that’s why champagne is necessary.


Online-Ad adds earnings to Google
• Google Inc. posted a 32% jump in profit and a 23%increase in revenue as some new business adds to company’s core search-ad sales. These results show how google, among other web companies,is benefiting from a broad recovery in online ad spending this year.The main reason being the new advertising formats.
• Also paid clicks a measure of how frequently consumers click on Google’s ads,rose by 16% in September quarter.To add to this the average price that the marketers pay Google per click is increased by 3%.
• Not only this the mobile search queries have increased 500% over the past two years and Google is on pace to generate more than $1 Billion in annual mobile search and display revenue.
• The company was engaged in “war of talent” and added about 1500 new employees since June bringing its total workforce to 23,331.


Double Digit growth, say Infosys
The company’s second quarter revenue rise 10.2% to $ 1,496 million from the first quarter.
This is the first ever quarter where they have grown organically by more than $100 million.
Clients are spending on technology, they have good cash positions, they are continuing to outsource.


RBI’s task tougher by inflation
The latest data released by the department of industrial policy and promotion showed inflation accelerating to 8.62% in September after deciding for four months.
Inflation was due to high prices of pulses, vegetables, sugar, fibres and minerals.
Week food inflation accelerated to 16.37%.
Economists said in a report that the Central bank was unlikely to hike policy rates soon.

About Sports(overview of common wealth games)
• Prashant karmakar won India’s first swimming bronze medal in 50m freestyle para-sport event.
• Ashish Kumar became the only Indian to win gymnastics medals in an international competition.
• Saina Nehwal won a singles gold against Malaysian Wong Mew Choo.
• England’s 16years old diver Tom Daley won 2gold medals.
• Deepika Kumari, 17, won the women’s individual recurve gold in archery.
• Australian Yolane Kukla, 15, won the 50m swimming gold.


Vodafone Files Petition
Vodafone Files Petition against the new steps being taken by the tax office.
The tax authorities believe Vodafone is liable to pay withholding tax estimated at Rs 12000 Crore on the deal.
Issue is that the tax department has asked Vodafone why it should not be treated as a representative assessee of Hutchison.

The Mint - 16th October

Gaurav pandey
Honey parnami
Himanshu kanaujia
Section – H (group 9)

S. Gopalakrishnan | Weak recovery from economic downturn

In an interview CEO of Infosys technologies seemed delighted and optimist as the growth figure reached to 10% after the economic downturn period. The revenue added this quarter is the highest in the history of the company at $130 million (Rs. 572 crore) compared to about $95 million then.

Vodafone files petition against India tax move
Vodafone international filed a writ petition in Bombay High Court on Friday to shield itself from IT department. As per to Income tax department Vodafone is liable to pay Rs. 12000 crore (withholding tax).

Capping interest rates affects margins, says Vikram Akula
Talking to reporters on Friday Vikram Akula founder and chairman of SKS Microfinance Ltd said that profit margins coming under pressure if finance ministry or banking regulators directs interest rates charged by MFIs

Uninor tops the chart again
Uninor has added the most subscribers among private telecom players during September (2.3 Mn) and stood at No. 1 position in extension of subscriber base.


Bombay HC gives nod for RPower, RNRL merger
Anil Ambani-led RNRL said that the Bombay High Court has approved the merger of both entities. According to this, RPower shall issue and allot one equity share of Rs10 face value for every four equity shares of Rs5 face value of RNRL, the companies said in separate filings to the Bombay Stock Exchange (BSE).The merger would increase RPower’s shareholders’ base to over 6 million from 3.5 million at present.
China, Pak are major irritants, says Army chief
Army chief General V K Singh on Friday described China and Pakistan as "two major irritants". "We must have substantial conventional war-fighting capabilities, with the ability to even fight in a nuclear scenario, "skirmishes are certainly possible'', he added. China has supported Pakistan’s nuclear and missile programmes with the strategic aim to bog down India in South Asia.

Now, switch on your cell after landing
Air travellers can now switch on their mobile phones the moment their aircraft lands at any Indian airport and exits the active runway. The Directorate General of Civil Aviation ( DGCA) on Friday night issued a directive to airlines, asking them to announce the lifting of restriction on mobiles post-landing and allow passengers to do so latest by next Wednesday.

RBI panel to examine functioning of MFIs
Now government has come up to regulate the predatory practices of MFI’S. The Reserve Bank of India (RBI) on Friday announced the constitution of a sub-committee to look into the functioning of MFIs. RBI governor D Subbarao, has not commit the regulations to deal with the MFI’S. A move has come a day after the AP cabinet approved an ordinance providing for a three year sentence and Rs 1 lakh penalty for MFIs harassing borrowers for recovery of loans.

Wi-Fi in homes can be hacked in 5 seconds

Wi-fi hacking means criminals can steal the identity and information to raid your bank accounts. It’s matter of concern for those who are not using the password attached. CPP fraud expert Michael Lynch said, "We urge all Wi-Fi users to remember that any information they volunteer through public networks can easily be visible to hackers."

Android eats iPhone marketshare
Google Inc's Android operating system helped smartphone makers who use the software win market share from Apple Inc's iPhone in the second quarter, researcher ISuppli said in a report. HTC Corp, which makes some of the Droid models for Verizon Wireless, increased shipments 63 per cent from the first quarter, boosting its share of the global smartphone market to 8 per cent, ISuppli said. Samsung Electronics Co, which released the Galaxy line of Android devices, increased shipments by 56 per cent.
The Mountain View, California-based company has lost 13 per cent this year. Apple added $3.18 to $298.54.
Apple, the third-largest smartphone maker, declined 4 per cent worldwide from the first quarter.

kalmadi isolated as cwg official inquiry begins
v.k shunglu is appointed to review the event and probe the allegation of irregularities.congress chief sonia gandhi said who so ever found guilty in using government fund should be penalise..
tata to donate $ 50 mn to harvard business school
ratan tata has announced a $50 million donation to harvard business school.the fund will sponsor by dorabhi tata trust and tata education and devopment trust.

Buoyant Infosys raises FY estimate


Infosys Technologies Ltd show double-digit growth in revenue from the preceding quarter for the first time in three years.revenue would grow up 24-25% or $5.95-6 billion, up from 19-21% it had in last quarter.infosys raise 100 million revenue fast time. Clients are spending on technology, have good cash positions and are outsourcing business, boosting earnings for company..


General electric 's earnings fall 18% in 3rd quarter
the chairman and ceo jeff immelt said that equipment order rose 9%
and technology infrastructure increased by 33%.this growth
increase the confidence of investor that renewed GE should grow earnings and dividend in near future.

BUSINESS LINE 16th October

INFOSYS RETURNS TO DOUBLE-DIGIT GROWTH, BUT CAUTIOUS OF FUTURE

DATAS PROVIDED:

· 10.2 PERCENT GROWTH IN DOLLAR TERMS

· Rs 30/share is the dividend to shareholders and Rs 10/share as interim dividend with total payout coming to Rs 2400 crore on 30^th anniversary of the company

· Posted a net profit of 13.3% growth in net profit after tax at Rs 1737 crore and revenue grew to 24.4% to Rs 6947 crore.

DETAILS:

CEO AND MD Mr.S.Gopalakrishnan told that while results are the turning point of the company with revenue of $100 million on the other hand Infosys was cautiously optimistic of its future because of:

· Industry expecting clarity from clients on IT budgets for the 2011 calendar and expects greater revenue growth

· Currency volatility according to CEO Mr.S.D.Shibulal.

IT Scripts, Profit booking pull SENSEX down 372pts

Sensex down 372 pts. at 20125 pts. due to

· Infosys caution in currency fluctuation impacting future earnings. All sectors in the index down specially IT(-3.25%) which is the biggest looser.

· Profit booking by the investors.

· Investment in coal India IPO opening which has public offering of Rs15000cr. So investors needed liquid money.

Toyota Etios to be launched in Bangalore on Dec 1

· Toyota is about to launch its Etios compact car in Bangalore on 1^st of December where president Akio Toyota is likely to be present.

· Toyota has roped A.R. Rahman, the pride of India as they dream to makes Etios the same.

· It also reflects the new emergence for the developing nations such as India.

Toyota engineers carried out market research in local perspective and planned the key drivers to be quality, durability and reliability.

· It was this spirit that Etios was created as an affordably priced vehicle, that is a class above competition.

SBI may hike base rate in 3^rd quarter

SBI rates likely to go up in view of increasing cost of deposits. Many banks revised their base rates by +25 bp

But SBI has held its base rate steady at 7.5%.

· Benchmark prime lending rate is 12.25 %

· SBI chairman Mr. O.P. Bhatt said in 2^nd quarter cost of deposit was at lowest level in last 12 months, deposit rates have gone up pointing pressure on liquidity.

· Therefore call rate short term rates, commercial paper and certificates of deposits too have gone up.

· Bank is short of RBI’s projected growth of 20% & is around 18-19%.

SBI to raise Rs 1000 cr thru long term retail bonds

· SBI to raise Rs 1000 cr by issuing long term bonds of 10 & 15 years to retail investors. Fist time bank issues tier II bonds to retail investors.

· Issue opens on 18-25 oct. with face value Rs 10000

· It has two series Series I of 10 years coupon rate 9.25 & Series II of 15 years coupon rate 9.5

· Bank is having a call option after 5 y for Series I and 10 y for Series II.

· About bond OP Bhatt chairman said it would give investors additional investment avenue.

· 50% issue is reserved for retail customers, 25% for high networth individuals & 25 for institutional investors.

VODAFONE MOVES COURT AGAINST I-T DEPT TREATING IT AS HUTCHINSON’S AGENT

· Vodafone international BV on filed a writ petition in Bombay High Court to defend itself against a different course of action taken by the I_T department.

· Initially they took an action against the failure to conform to TDS obligations which was related to deductor’s liability

· But now they are considering Vodafone as a representative assesse (agent) of Hutchinson, for which they have aimed at bringing the entire income of Vodafone into Tax assessment, including profit and losses.

· Vodafone mentioned that it is just an agent of Hutchinson and not liable to pay the Tax.

· Now 4 weeks’ time has been provided to the Tax department to prove the matter infront of the Supreme Court, but according to Vodafone officials’, I-T department is taking this as an unusual development as they ignored the immediate hearing of the Supreme court.

INDIA WANTS HUMAN PATHOGENS COVERED BY BIODIVERSITY PACT

INDIA and BRAZIL will lead developing nations to ensure that human pathogens are covered under ACCESS BENEFIT SHARING (ABS) framework at the conference of parties of UNITED NATIONS CONVENTION OF BIODIVERSITY to be held at NAGOYA,JAPAN.

· It is the 10^th conference going to be held between October 18 and 29 with 193 representative countries participating.

· Till now pharmaceutical companies have been using resources of the developing countries without sharing the benefits of the local people.

· India is demanding to add pathogens in the ABS framework.

· This move is going to benefit those from whom disease causing organisms and pathogens are taken for producing drugs.

· According to Mr. Ramesh India is trying to include the entire value chain along with compete disclosure with regard to exploitation of Bio-diversity while developed nations are opting for graded disclosure.

· The National Biodiversity authority(NBA) has reached agreement with some 80 private companies that have sought access to bio-resources for commercial purpose.

Gold Pares Gains

· Gold prices experienced a low session of $1,366.55 an ounce as the currency market see sawed after a speech by Federal Reserve Chairman Mr. Ben Bernanke.

· The precious metal initially rallied to a session high of $1385.25 an ounce.

· Spot gold was bid at $1,369.35 an ounce at 13:04 GMT against $1376.75 late in New York on Thursday.

· Therefore, open interest a amounts to well over 17,000 contracts equivalent to 1.7 million ounces of gold.

· Investments in gold exchange-traded funds picked up, the holdings of worlds largest, New York's SPDR Gold Trust.

Regulator To Hold Talks On Resuming Sugar Futures

· The Forward Markets Commission (FMC) had suspended sugar future in May last year

· According to the commodities exchange said the FMC is waiting for festival season before resuming the future sales.

· Nation Commodity Exchange had told FMC that it was ready to launch but was unable now will be launching in November or December.

· The Multi Commodity Exchange official said the bourse had not sought permission to start future trading in sugar but was ready to launch it.

· The ban was imposed last year after sugar prices touched Rs 40 a kg, following sharp fall in production to 145 lakh tones during 2008-09.

ABG shipyard hikes stake in western shipyard to 60.26%

· ABG shipyard takes control of belaeaguered western shipyard on Friday by raising stakes to 60.26%.

· ABG scrip closed at rs 311.10 down 0.67% while WISL jumped 20% to 16.76.

· ABG bought 11.9 crore from October12-14.

· ABG has acquiring existing yards to meet growing demand in Indian yards.

Forex reserves up $1.63 b

· Forex reserves up $ 1.63 billion to $ 295.792 on oct 8

· Fourth consecutive week for which reserves has risen.

· According to RBI foreign currency assets increase by $1.593b to $ 268.1b

· Gold reserves unchanged at $20.516 billion.

Business Standard - 16th October

Kiran Parchani
Kinshuk Deb
Kamei Lanchungpu

Section - G
Group - 9

Cabinet may clear Air India’s Rs. 1200 crore equity infusion.
• National aviation company India Limited (NACIL) which runs Air India (AI) is likely to receive government approval for its second equity infusion by next week.
• The airline has much debt on its books. Has a working capital debt of Rs. 1850 crore and pays Rs. 1800 crore as interest at a rate f 12 percent annually.
• The civil aviation ministry feels these infusions of relatively smaller amount would not be of much help.
• The airline is looking at launching a domestic low cost carrier under the Air India Express brand to boost its market share.The monsoon’s has led to an increased demand for fertiliser.
Some new launches in India1. Cars
• Skoda to replace Octavia: Skoda India a subsidiary of Skoda Auto is developing a car to replace the premium sedan ‘Octavia’ in the country.
• It will be a successor of Octavia, will be positioned in ‘C’ segment and will roll out in India by second half of 2011.
• Hyundai Motor India, launched its luxury SUV Santa Fe, priced between Rs. 20.95 lakh-22.95 lakh.
• In India Santa Fe will be imported as Completely Built Units (CBU) from South Korea, even, Hyundai has no future plans to manufacture the car in India in the near future.
2. Phone• Research In Motion (RIM) has launched new Blackberry Torch 9800 for Rs. 35,000. It has an upgraded operating system Blackberry 6 and is the first device to feature full touch screen.
Honda Motor prepares to exit Hero Honda.
• Honda motor company says it is evaluating proposals for a deal which could even see it exiting from its joint venture with the Munjals of the Hero group in Hero Honda.
• The proposal was made by Munjals to Honda Motor. The latter’s technology licensing agreement for the Joint Venture is to end only in 2014.
• Meanwhile Honda has decided to shed its premium tag and has plans to be in the low-cost bike segment, starting with a motorcycle costing just $612 (roughly Rs. 27,000).
• The company plans to target developing countries like India as no motorcycle is available in the market at such a low cost.
Governance for Tomorrow• Regulations governing Indian companies were introduced in 1850, during the British Raj. They were overhauled in 1913 and 1956.
• Upon the recommendations of various committees, including Joshi Committee and Irani Committee, the Companies Act 1956 was re-examined periodically.
• The 54-year-old corporate law in India is due for revision. We have the Companies Bill 2009, a framework to help India Inc operate in the environment of best international practices. In light of the global changes, the expectations from the Bill are the setting of certain standards, deregulation of powers and simplification. In this backdrop is the analysis of certain important provisions of corporate governance and management which continue to be at the centre stage of dynamic and ever-evolving business practices.
• The Companies Bill will include revision of following things:
1. Remuneration policy
2. CSR (Corporate Social Responsibility) Movement
3. Auditors/Audit firm Rotation
4. Independent Director’s Term
5. Selection Panel for Directors
6. Director’s Evaluation
7. Disclosures of related party transactions
An Exuberant Conclusion to games.• The country’s competitors came out with flying colours and helped India finish a historic second in the final pecking order with more than 100 medals as the Commonwealth Games, that had a troubled build-up but proceeded smoothly thereafter, came to a close today. A record medal haul of 38 gold, 27 silver and 36 bronze medals, the best-ever harvest for the country in the Games history, helped India climb to the record high second position and end the multidiscipline event on a thumping note. The main haul of these 101 medals came from the shooting range, wrestling mat, boxing ring, archery range and, to everyone’s surprise, the track and field events, to provide the country with a reasonably strong sports foundation on which to build a more powerful edifice on.
• CWG MEDALS TALLYCountry Gold Silver Bronze
Australia 74 54 48
India 38 27 36
England 37 59 45
Canada 26 11 32
South Africa 12 11 10

THE ECONOMIC TIMES 16th October

SECTION E

KIRTI SINHA

KRITI SINGHAL

KUSHAL SARRAF

1. SKS Microfinance drafts statement on Murthy's advise to explain sacking of CEO

· A series of events took place some weeks ago which turned controversial for the country’s largest microfinance company but also dragged the complete sector into the harsh media glare.

· A draft is prepared by the SKS management explaining the issue and it is circulated amongst the board members two days ago.

· VikramAkula , the SKS founder offered to silent critics of MFI’S by saying he is ready to lower lending rates by 2%.

· Even as the reasons for the unceremonious sacking of Hyderabad-based SKS Microfinance’s MD and CEO Suresh Gurumani continue to be shrouded in mystery, it now emerges that this is not the first time that India’s largest MFI has seen a change of guard in such an abrupt fashion.

2. 8 Popular drug prices slashed.

· Prices of famous drugs like cipla,sunpharma and Unichem is reduced by drug price regulator of the country.

· Up to 85% cut ,sharpest in past years.

· Ciplox TZ prices reduced from Rs.100.73 to Rs.25.7 i.e sharp 74% cut down.

· Popular burn ointment Silverex AV cream slashed by 85% to Rs.25 for 20gm tube.

· Spironolactone+Torsemide reduced its prices to Rs 21 and 24 for 10 tablet strips respectively.

3. Sumitomo to buy Suzlon Belgian unit

· Belgium based Hansen transmissions in which Indian wind turbine major Suzlon energy holds a 26% stake will sell its industrial gearbox making unit to Japan’s Sumitono Heavy industries in all cash transactions.

BREAKING NEWS OF THE DAY

· J&K interlocutors to get a year tenure

· Bihar MLAs' assets up 4-fold

· Speaker sullied Karnataka's image: Krishna

· Vodafone seeks HC cover after I-T dept calls co tax 'agent' for Hutch

· Barack Obama to visit locations of 26/11 terror attacks, stay at Taj

· BMW recalls 21,000 cars from China: State media

· Nepali teen becomes world's shortest man at 67 cm

· Pranab invokes 'MaaDurga' to check inflation

· MukeshAmbani ready to move into mansion in the sky

· Gush of dollars set to hit India as emerging mkts close gates

· Commonwealth Games: Mission accomplished 101%

BRANDS AND BUISENESS

South Korea’s E-land to buy Mudra lifestyle.

· South korea based $7 billion textile chain E-land is acquiring Mumbai based Mudra lifestyle.

· It’s a rare instance of foreign investment in India’s Textile sector.

· E-land group is a seoul based fashion and garment conglomerate with substancial presence in the fast growing Asian market.

· South Korean major has agreed to buy a minimum 51% stake in the company.

FINANCIAL MARKET

Market analysis of the day

FOREIGN MARKET

S&P500

1,171.30 (0.58%)

Nasdaq

2,429.94 (-0.46%)

FTSE100

5,727.21 (-0.35%)

Nikkei

9,583.51 (1.91%)

HSI

23,852.17 (1.68%)

INDIAN MARKET

SENSEX20,125.05 [- 372.59 (-1.82%)]

NIFTY6,062.65 [-114.70 (-1.86%) ]

1.Infosys Q2 net rises 16.7% to Rs 1,737 crore

· Infosys Technologies reported double-digit growth in its net profit for india's $50-billion outsourcing industry.

Net profit for the second quarter rose to Rs 1,737 crore, up 16.7% compared to the preceding June period.

The third biggest software exporter Wipro saw its shares drop by almost 3.58% to Rs 473.50 on Friday.

· Revenues in the year ending March 2011 will be between $5.95 billion-$6 billion, up 25.6% to 26.8% from the previous year.

A brewing mortgage crisis in the US banking sector is causing concerns. Looks healthier anddriven by stimulus money and low interest rates—overall, a ‘bandaged’ job.

2.Currency swings can put pressure on infy solutions

The current growth and perfomance shown by the infosys and other IT biggies such as TCS and WIPRO shows the increase in global IT spending against the double digit sequential topline growth of INFY’S.But these sectors can feel the pressure in near future due to uncertainity over currency movements and possible talent crunch.on Friday IT players reported a 10% sequential jump in revenue and one of the highest sequential jump in 12 quarters.infy has also increased its FY11 target for secodstraigt year they now want to recruit 40,000 employees and they started this year by hiring 30,000 employees this higher recruitment is basically to compensate for the loss of talent in the past.beside showing robustic growth INFY’S stock fell by 3.4% in a weak broader market.this mainly reflect future of rupee-dollar movement.considering INFY’S latest EPS (earning per share) guidance for FY11 and estimation of 25.5 P/E.given the recent jump in the stock and fluctuating currency movement ,it’s valuation may come under pressure in near term.

2.RBI rate hike seen after september inflation rises upto 8.62%

Marjinal rose in the inflation prompted C.Rangarajan an influential person in the government to urge action from central bank.the data that was released on Friday shows the increase in wholesale price index from 8.53% in august to 8.62% in september.the government already targeting 8-8.75% growth in this year and central bank already increased policy rates by 125 basis point and in they want 25 basis point increase in NOV 2 policy review.

3.LIC housing seeks to boost tier-II capital

LIC Housing Finance are considering to increase their tier-ii capital.basicaly it includes undisclosed reserves,hybrid instruments and subordinate term debt.there net profit icrease by 2.93% this quarter.three factors that influence there profitability is continuing growth of 36% in the loan book without any pressure,decline in non-performing assets and emphasis on borowing mix.

OPINIONS

1.CWG 2010 – HITS AND MISSES

· The chaotic run-up to the Commonwealth Games looked like a distant nightmare when the world went gaga over the spectacular opening ceremony and an equally dazzling closing event.

· While the capital scored on many fronts like managing traffic and extending hospitality to guests, it also faced many bitter experiences on the way.

· Almost everyone in delhi was loved the warm hospitality extended to them.

· The specially ordered Chanderiangvastrams stole was hit at merchandise stores.

· Delhi emerged as the culture capital during the games,offering daily dose of musical recite,dance performance and many exibitions and festivals. All had such a great response the extra tickets had to be sold.

· opinion poll in India's four biggest metros – Mumbai , Delhi, Kolkata and Chennai

HIT- 85%

POOR INFRASTRUCTURE – 33%

TRAFFIC CHAOS -30%

PRPEARED FOR OLYMPIC GAMES 2020 -82%

EDITORIALS

· Design: The new business mantra

· Logostics key to growth of retail

· Hands on diagonosis

· Growth in non-life insurance

· MF sector will adapt to Sebi norms.

· Yes!! We did it.