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After the car tatas to roll out nano homes Tata housing to Ning

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					                  Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



Date: 01/01/09
       THE government is considering a proposal to allow foreign airlines such as
Singapore Airlines, British Airways and Lufthansa to pick up equity stakes in domestic
carriers, but with riders. It is preparing the ground for a major policy shift on foreign
ownership in aviation.
       ICICI Bank, the country’s largest private sector lender, has reduced its prime
lending rate by half a percentage point to 16.75%.
        ONGC Videsh (OVL), the overseas investment arm of India’s largest oil
exploration company Oil & Natural Gas (ONGC), has formally announced the acquisition
of Imperial Energy as about 96.82% shareholders of the UK-based company have
accepted its open offer. The value of the transaction is likely to be less than $2 billion,
which includes about 6% convertible bonds. This is the first acquisition of a listed
company abroad by any state-owned company.






      TIMES NOW was the most watched 24-hour English news channel in 2008,
according to the audience measurement data released by TAM (Television Audience
Measurement). Amongst CS Male 25+ SEC AB, 1Million plus markets, TIMES NOW was
at No.1 position for 29 weeks out of 52 in 2008 against 18 for NDTV and CNN-IBN for 9
weeks.
Date: 02/01/09
      AFTER deliberating for over a year, the government may finally flag off PepsiCo’s
plea for waiver of the mandatory 49% disinvestment in its Indian bottling arms. The
company had sought exemption from the divestment clause, arguing that 100% foreign
investment is now allowed in food processing.
      The inflation rate slid to a 10-month low of 6.38% for the week ended December
20.
      INDIA’S exports declined for the second month in a row by 9.9% to $11.5 billion
in November 2008 from $12.7 billion in the same month previous fiscal.




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



       THE commerce ministry has provided a new year gift to millions of weavers and
silkworm rearers in the country by extending the anti-dumping duty (ADD) on Chinese
silk yarn, for another spell of four years, effective from January 1, 2009.
Date: 03/01/09
       Founder and chairman B Ramalinga Raju’s stake has fallen to 5.13% from 8.27%
at the end of the September quarter.
       Windows 7, which is said to be a better version of the Windows Vista, has
promised to improve the user interface and memory management apart from offering a
faster boot-up time. It is 20% faster than the Vista and takes 27 seconds to boot-up
which is almost the same as what is offered by the Windows XP.
Date: 04/01/09
       India’s largest drugmaker, Ranbaxy Laboratories, has missed its December 2008
deadline to launch an antimigraine drug as the US drug regulator is yet to give approval.
Ranbaxy, which is now owned by Japanese drugmaker Daiichi Sankyo, was expecting to
earn almost $100 million from the drug that would be a low-cost version of
GlaxoSmithKline’s Imitrex.
       The five-year long ownership battle in the Bajaj group finally came to an end on
Thursday when the two factions — Rahul Bajaj and Shishir Bajaj groups — agreed on an
amicable settlement that included transferring of shareholdings. The Bajaj group
shareholding in Bajaj Hindustan and Bajaj Consumer Care — part of Shishir’s group — is
now with Shishir Bajaj. Also, the promoter shareholding of other companies in the Bajaj
group, including that held by the Shishir Bajaj group, is now with the four brothers of the
Bajaj group.
       HP Labs India is developing the nextgeneration user interface for computers and
mobile phones that will recognise gestures and understand voice inputs.
       NATIONAL Conference president Omar Abdullah will be the next chief minister of
Jammu and Kashmir. At 38, he is the youngest, and the third member of the Abdullah
dynasty, to grace the post, heading a coalition comprising the Congress and a couple of
independents.
       According to initial figures prepared by the Union ministry of tourism (MoT), there
has been a 6-8% jump in foreign tourist arrivals in 2008 over the corresponding year
2007. Last year, the tourist arrivals to the country were 5.3 million as compared to 5.08
million in 2007.
       CHRYSLER LLC on Friday received an initial $4 billion emergency loan from the US
government, two days after the government completed a parallel payout to its larger
rival General Motors Corp. “This initial loan will allow the company to continue an orderly
restructuring.
Date: 05/01/09
       UK’S flagship airline British Airways (BA) is looking to pick up a 25% stake in
Wadia group-promoted no-frills airline GoAir.




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             Deepak Kumar Mehta, BIMM, Pune (2008 -2010)





Date: 06/01/09




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)





Date: 07/01/09
       THE world’s largest buyout fund Kohlberg Kravis Roberts (KKR) is considering
pulling out of Aricent, formerly Flextronics Software Systems, nearly two-and-a-half
years after it bought the US-based telecom software specialist for $900 million.
       ONGC Videsh (OVL), the overseas investment arm of India’s biggest oil explorer
ONGC, has sealed a deal to raise Rs 5,250 crore from Citibank India to part finance its
recent $2.1-billion acquisition of UK-listed Imperial Energy.
       THE Aditya Birla group on Tuesday launched its private equity business with a
corpus of $250 million. The fund has already picked up 26% stake in north Indian
apparel retail chain V-Mart.
       AFTER announcing a fare reduction of up to 82% a few days back, national carrier
Air India has announced that it will cut basic fares anywhere between 45% and 60% in
February following a drop in ATF prices.
       VIJAY Mallya’s Kingfisher Airlines will face-off with Asia’s budget airline pioneer
Tony Fernandes-led AirAsia in South-East Asian skies.
       PSA Peugeot Citroen is charting a quiet re-entry into India. The € 34.6-billion
French auto major is interested in both sourcing components as well as setting up a
production base in India.
Date: 08/01/09
       SHOCK AND WOE: THE BIGGEST FRAUD IN INDIA’S CORPORATE HISTORY
Satyam, the fourth-largest software service provider, imploded on Wednesday, sending
its stock crashing by 80%. In a 5-page letter, detailing years of financial deception,
Satyam chief Ramalinga Raju owned up responsibility and put in his papers. The shame
and scandal has stunned India Inc, and left lakhs of investors and 53,000 staffers out in
the cold Govt, regulators plan joint action.
       GSM operators Bharti Airtel and Vodafone Essar have the most congested telecom
networks, an analysis by Trai revealed.
       CAR majors have withdrawn discounts and raised prices by 2-3% across a range
of products this month citing rising input pressures. While Toyota and Ford have raised
prices this week, General Motors is hiking prices by 1-2% by the end of the week, Rising
costs of steel, aluminium, plastic rubber and petroleum products are putting pressure on
manufactures to increase prices.




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                  Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



Date: 09/01/09
        IN WHAT could lead to the first major breakthrough in the dispute between the
Ambani brothers, the government on Thursday intervened to ensure that gas from RIL’s
KG basin would be given to the proposed Dadri power project by Reliance Power,
provided the fuel was available.
        IN A bid to increase revenues from the impending 3G (third generation)
spectrum auction, the Department of Telecom (DoT) is looking at increasing the number
of slots available for bidding from the current five to seven-eight per circle. It will help
the government raise at least Rs 40,000 crore from spectrum auction, a target it fears
missing amid the global economic crisis and subdued interest from international players.
Date: 10/01/09
       The $17-billion healthcare equipment maker GE Healthcare on Monday
announced here the launch of India’s first fully digital X-Ray system. “GE Healthcare’s
Tejas DR-F is going to be India’s first fully digital flat panel-based X-Ray system that will
cost 40 percent lesser than imported digital machines,” V. Raja, president and chief
executive of GE Healthcare (South Asia), told.
       Lenovo Group, seeking to set itself apart in a crowded field of laptop competitors,
is releasing what the company says is the first dual-screen notebook computer. It is one
of several laptops that the world’s No 4 personal computer maker is debuting this week
at the Consumer Electronics Show (CES) in Las Vegas.
       UNION Bank has reported 28.5% growth in business at the end of the third
quarter of the current financial year.
Date: 11/01/09
       CASIO Computer Co enjoyed robust digital camera sales in the US holiday season
despite a tumbling overall market, and said it’s confident of achieving more than 10
percent growth in the year starting April.
       AT A time when the Indian PC market is experiencing a slowdown, vendors are
focusing on a new growth driver — lowpriced laptops aka ‘the netbook’. While the
current sales volume of netbooks is pegged at some 25,000 units, it is projected to grow
to 2-3 lakh units in the next one year, a crosssection of the vendors said.
       CITIGROUP Inc is in advanced talks to sell its Smith Barney brokerage unit to
Morgan Stanley.




Date: 12/01/09
     THE government on Sunday appointed a threemember board comprising HDFC
chairman Deepak Parekh, former Nasscom president Kiran Karnik and former Sebi




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                  Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



member C Achuthan to steer taintedsoftware giant Satyam out of the current crisis. The
board, which has been given a free hand in deciding the company’s future, will meet on
Monday morning to chart the course of action.
       Indian wine company Indage Vinters has signed a three-year contract with
Foster’s to bottle the latter’s wine brands at the Indage-owned winery in the UK. Foster’s
will bottle its bag-in-box wine brands, among others. Indage Vintners is India’s largest
wine company.
       A deal to combine the brokerages of Citigroup and Morgan Stanley — which would
give Citi more cash, and morgan stanley more manpower — appears just days away.
Morgan stanley is likely to pay Citigroup between $2 billion and $3 billion for a 51%
stake in the brokerage Smith Barney.
       THE Mumbai ports are losing their liquid cargo business to counterparts in
Gujarat. The ‘unfriendly measures’ prevalent at Mumbai Port (MPT) and Jawaharlal
Nehru Port (JNPT) are driving away a major chunk of the cargo business to Mundra and
Kandla in Gujarat.
       TWO-WHEELER major Bajaj Auto is set to fight back falling sales with a renewed
focus on bigger engine bikes backed by six new launches in 2009.
Date: 13/01/09
       Dewan Housing Finance Corporation is set to buy out IDBI Home Finance for close
to Rs 311 crore.
       India’s leading telecom company, Bharti Airtel, on Monday launched mobile
services in Sri Lanka becoming the fifth mobile operator in the country.
       PASSENGERS flying out of Delhi would soon have to pay an airport development
fee that may be Rs 300 for domestic travel and Rs 1,000 for international flights. The fee
will be levied by Delhi International Airport (DIAL), which is modernising the Capital’s
Indira Gandhi International airport.
       KINGFISHER Airlines has begun hedging its exposure to aviation turbine fuel
(ATF). The airline has, for the first time, hedged 10-15% of its jet fuel requirements for
the remaining part of this fiscal.
Date: 14/01/09

       Amid clouds of uncertainty, Infosys not only beat the Street but also hopes to
keep the Indian IT flag flying Earnings Guidance For 2008-09 Almost Unchanged At 29-
30%.
        IT IS nothing but courage in the face of adversity. Indian carmakers, which saw
their sales figures crashing to an eight-year low in the September-December quarter,
will launch 50 new models this year in an attempt to revive their fortunes.
Date: 15/01/09
       Maytas Infra, whose vice-chairman is Teja Raju, is in talks to sell its interests in
the projects to privately-held Ramky Infrastructure and Nagarjuna Construction
Company as a cloud of uncertainty hangs over its ability to raise funds following the
financial fraud at Satyam.
       DELOITTE Haskins & Sells and KPMG, both part of the Big Four accounting firms,
have been appointed as auditors for Satyam Computer Services, replacing
PricewaterhouseCoopers (PwC) after the head of India’s fourth largest software firm
admitted that he had cooked up numbers for the past seven years.
       The board of approval for special economic zones (SEZs) will take up nine
applications at its meeting on Thursday, including proposals from Larsen and Tourbo and




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                  Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



Anand Jain-promoted Navi Mumbai SEZ. Of the nine proposals, four are in IT and IT-
enabled services sectors. These are from L&T in Maharashtra, Hall Marc Techno Park and
KPR Developers in Tamil Nadu and Wakad Realty in Maharashtra. Other proposals
include a multi-product tax-free zone by Lepakshi Knowledge Hub in Andhra Pradesh, an
agro product SEZ by Anand Agrochem India in Uttar Pradesh, a multi-services SEZ by
Navi Mumbai SEZ in Maharashtra, an aluminium SEZ by JSW Aluminium in AP and a
port-based SEZ by Karaikal Port in Pondicherry. As many as 513 SEZs were approved by
the government so far after the SEZ Act was passed in 2005 and rules notified in
February 2006. Of these, 87 zones are operational.
       VIETNAM it appears is positioning itself as a provider of key agricultural crops to
India helping the latter to either re-export or locally consume them. One such item
besides the traditional basket of cardamom and coffee includes raw (or unscented)
bathis used by the Indian agarbathi sector.
Date: 16/01/09
       Inflation eased to 5.24%, its lowest level since February 2008, for the week
ended January 3 on the back of a sharp fall in the prices of food articles.
       The new PWD minister Vimal Mundada has said the Bandra-Worli sea link would
be thrown open for traffic on May 1. The project is already delayed by five years.
       The three Left parties — CPM, CPI and CPI-ML — have decided to jointly fight the
Lok Sabha elections, for the first time.
       THE first step towards operationalisation of the National Investigation Agency
(NIA) was taken on Thursday, with the appointment of Radha Vinod Raju, a 1975 IPS
officer of J&K cadre, as its chief . He is expected to commence recruitment of officers for
NIA immediately. Mr Raju will head NIA till January 31, 2010, or until further orders.
       TROUBLED handset maker Motorola is shutting down its distribution division in
India amid dwindling sales and increasing competition in the world’s fastest-growing
telecom market. The distribution work will now be done out of Singapore.
Date: 17/01/09
       US-based parent Citi announced it was jettisoning its financial supermarket model
that will split it into two separate businesses — Citicorp and Citi Holdings.
   Citicorp will hold all the good assets of the group including the global bank, while Citi
Holdings, which will include Citi Financial, will hold assets that the group will look to sell.
       HDFC has cut home loan rates by as much as 150 basis points for loans between
Rs 20 lakh and Rs 30 lakh. All floating rate loans up to Rs 30 lakh are now available at
9.75%. HDFC has also brought down the interest rates by 50 basis points on loans above
Rs 30 lakh to 10.75% while for loans up to Rs 20 lakh, the interest rate has been
reduced 50 basis points to 9.75%.
       LAYOFFS may be rife across Corporate India and economic confidence shaky, but
an analysis of the latest round of quarterly results from 60-odd companies reveals sales
growth to be in rude health.
   These companies have reported sales growth of 33% for the October-December
quarter, more than twice the growth rate during the corresponding quarter a year
earlier, indicating strong demand for products and services.
Date: 18/01/09




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




       Pharma major Ranbaxy Laboratories missed the deadline for conversion of equity
warrants issued by Jupiter Bioscience. This has raised doubts over the deal, which would
have given Ranbaxy a 15% stake in Jupiter.
       THE Cabinet Committee on Economic Affairs (CCEA) has approved three more
variables while computing the minimum support price (MSP) for crops. The three
variables are –– premium paid by farmers on crop insurance, marketing cost and
transportation charges incurred by the farmer for carrying his produce to mandis.
       Microsoft delays windows 7 beta .
Date: 19/01/09
       BHARTIAirtel, the country’s largest cellular operator, will soon become the first
private sector company to launch Internet Protocol Television (IPTV) services in India.
The company is expected to make on announcement on its IPTV plans this week. This
follows the recent launch of its direct-to-home (DTH) services in the country. IPTV and
DTH services are separate technologies to deliver television content into the consumer’s
home.
       BEVERAGE major Coca-Cola India is readying an extensive roll-out of products for
this year. The exercise will kick off next month with a fortified low-priced powder drink
Vitingo (an orange-flavoured beverage powder with micronutrients), which will be
followed by a phased launch of global energy drink Burn in the next quarter. The
company is also working on introducing a lemonade later in the year. This would be its
third lime-based drink, besides the existing Sprite and Limca brands. This lemon-based
drink could be either under Coca-Cola’s juice franchise brand Minute Maid or aerated
drink Fanta. The market for packaged nimbu pani in India, almost entirely unorganised
till now, poses growth potential higher than most packaged drinks.
Date: 20/01/09
        LARSEN & Toubro (L&T) is learnt to have appointed Japanese financial services
firm Nomura to advise it on a possible deal with Satyam.
       This is Nomura’s first major mandate in the country after it acquired the
operations of Lehman Brothers in Asia. Prior to this, it advised Daichi in the foreign
company’s acquisition of Ranbaxy.
       MORGAN Stanley hired a supertanker to store crude oil in the Gulf of Mexico,
joining Citigroup Inc and Royal Dutch Shell Plc in trying to profit from higher prices later
in the year, The ship is the Argenta, capable of carrying more than 2 million barrels,




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



Paris-based Barry Rogliano Salles and Athens-based Optima Shipbrokers. Banks and c o
m m o d i t y traders are seeking new ways to make money after the Standard & Poor’s
500 Index fell by the most since 1937 last year and crude oil prices dropped more than
$100 a barrel from their peak. Companies including Koch Industries Inc and BP Plc are
hoarding enough crude at sea to supply the world for almost a day.
Date: 21/01/09
       AT A time when most retailers are holding back expansion plans, auto company
Mahindra & Mahindra (M&M) has made a quiet foray into the retail sector with the soft
launch of its specialty format Mom & Me to sell infantcare and maternity
products. Mahindra Retail is a part of Mahindra Intertrade, a fully-owned subsidiary of
Mahindra and Mahindra.
       Bucking the slowdown trend, Hero Honda Motors (HHML), the world’s largest two-
wheeler manufacturer by sales, posted a 9.24% increase in net profit to Rs 300 crore for
the third quarter ended December 2008, as against Rs 275 crore in the corresponding
period last year. But the number of two wheelers sold during the period declined by 4%
to 8.57 lakh as against the previous year.
       INDIA will be the second fastest growing economy in the world after China,
Goldman Sachs, the American financial services major has said.
   Goldman Sachs expects India’s economy to grow 5.8% in FY 2010 due to fall in
external demand and a slowdown in investments. The US, EU and Japan are likely to
experience a significant contraction in economic activity in 2009 and possibly in 2010.
Date: 22/01/09
       PUNE-BASED Bajaj Auto is planning to add two international brands — Kawasaki
and KTM — to its portfolio and will launch several new bikes to revive its market share in
the next 12-18 months.
       THREE high-profile Indian ad professionals — Agnello Dias, Srikant Shastri and
Jasmin Sohrabji — have been chosen to be on the jury of the 3rd Dubai Lynx Awards,
which is part of the 2nd Dubai International Advertising Festival to be held from 15-17
March, 2009, at The Palladium in Dubai Media City.
        TOYOTA Motor Corp ended General Motors Corp’s 77-year reign as the world’s
largest automaker after avoiding the worst of the meltdown in global auto demand.
   GM’s 2008 sales fell more than 11% to 8.35 million vehicles, according to a company
statement. Toyota posted a 4% drop to 8.92 million. Toyota seized the crown after
boosting sales 70% since 1999 on demand for fuel-efficient cars in the US, Europe and
emerging markets. Still, bragging rights may do little to revive growth amid a recession
that has forced the Japanese automaker to forecast its first operating loss in 71 years
and caused Detroit-based GM to seek a government bailout.
Date: 23/01/09
       FRENCH pen and stationery manufacturer BIC has picked up a 40% stake in
Mumbaibased stationery products maker Cello Pens for Rs 800 crore ($160 million), the
Indian firm’s founder and managing director Pradeep Rathod said. The two companies
have also agreed that in 2013, BIC has the option to increase its stake to 55% in the
privately-held firm.
       WIPRO Consumer Care and Lighting (WCCL)’s homegrown soap brand Santoor
has emerged as the second largest soap brand in South India, edging out Hindustan
Unilever’s luxury soap brand Lux. Figures compiled by the research firm AC Nielson show
that Santoor had a market share of 15.6% in southern India compared to Lux’s 12.4% in




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



the first nine months of 2008-09. Lifebuoy dominated the space by cornering 15.7% of
the market.
       CITIGROUP Inc named former Time Warner Inc Chief Executive Officer Richard
Parsons to head its board of directors, replacing Chairman Win Bischoff after the US
bank posted a record $18.7 billion net loss last year.
Date: 24/01/09
       INDIA on Friday slapped a ban on import of toys from China after cheap supplies
from the neighbouring country upset the applecart of the domestic manufacturers. The
ban, notified by the Directorate General of Foreign Trade (DGFT), will remain valid for six
months.
       FRANCE’S largest bank BNP Paribas has raised its stake in Kochi-based brokerage
Geojit Financial Services from 27% to 34% by purchasing shares from minority
shareholders and converting warrants into equity.
Date: 25/01/09
       LARSEN & Toubro (L&T) tripled its stake in Satyam Computer Services to 12% on
Friday.
       The Supreme Court on Friday refused to entertain a plea by Vodafone, the world’s
top mobile operator by sales, challenging a tax claim on its $11-billion acquisition of
Hutchison Essar.
       French pen and stationery manufacturer BIC has bought a 40% stake in
Mumbai-based stationery products maker Cello Pens for Rs 800 crore ($160
million).
       CALIFORNIA-based Advanced Micro Devices (AMD) is poised to break arch rival
Intel’s virtual monopoly over all major government computer purchases in India that add
up to more than Rs 1,900 crore annually.
       More than nine million computers around the world have been infected by a
digital virus in what experts believe is a multi-staged attack.
       Infosys Technologies and IBM are locked in a battle to acquire the Indian IT
captive unit of the world’s largest mutual fund company, Fidelity Investments. The deal
may involve $150-180 million upfront transaction in return for an assured multi-year
outsourcing contract.
       Ansal Properties and Infrastructure has announced plans to invest around Rs 500
crore in the next 18 months to develop 10,000 affordable homes, expected to be priced
between Rs 2.5 lakh and Rs 9.5 lakh. The housing units will be developed in Uttar
Pradesh and Rajasthan and will be ready for delivery in one-and-half year.




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)





Date: 26/01/09
       HINDUSTAN Unilever posted a 12.7% rise in fourth-quarter underlying net profit
on Sunday and said softening commodity prices bode well for its business, after its
mainstay soaps and detergents business was weighed down by a drop in volumes
because of high input costs. The country’s biggest consumer products company and the
maker of Surf, Lux soap and Lipton tea reported net profit before exceptional items of Rs
612.1 crore for the October-December quarter compared with Rs 543.05 crore in the
year-ago period.
Date: 28/01/09
       FUTURE group, India’s largest retailer and owner of the Big Bazaar supermarket
chain, is in advanced talks with Europe’s largest retailer Carrefour for a joint venture to
set up cash-and-carry outlets in India. A deal could help the French group finally realise
its longheld dream of entering the country’s fledgling retail sector.
       INSULIN brands, steroids and painkillers may become more expensive once the
drug price regulator, National Pharmaceutical Pricing Authority (NPPA), revises prices of
more than 170 medicines, in some cases by as much as 33%.
Date: 29/01/09
       FORMER managing director of Tata Chemicals Homi Khusrokhan and exfinance
director of the Murugappa group Partho S Datta are likely to form the top leadership
team of fraud-hit Satyam Computer Services.
       TATA Communications (formerly VSNL) posted over 200% rise in third quarter
net profit at Rs 81 crore over the comparable previous year period. Total income rose by
11% to Rs 1,023 crore thanks to growth in wholesale voice as well as enterprise data
businesses.
       The government has cleared 31 foreign direct investment (FDI) proposals worth
Rs 1,277.23 crore of firms such as Morgan Stanley Financial Services, Keystone Realtors
and Ramky Enviro Engineers.
Date: 30/01/09
       GE INDIA will miss its 2010 revenue target of $8 billion and exit consumer loans
in the country, said GE worldwide chairman & CEO Jeff Immelt.




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



       Subhiksha is closing a significant number of its 1,600 stores across the country to
cope with a cash crunch that has held up store rent and salary cheques, but says it
would survive the crisis.
       Maruti Suzuki reported its smallest quarterly profit in more than four years due to
decline in domestic sales, high steel prices and adverse currency changes. The company
posted a 54% decline in net profit to Rs 213.6 Crore for the third quarter.
Date: 01/02/09
       Despite the current economic slowdown, the CAGR for hotel room demand in
India in the organised sector for five-star deluxe, five-star, four-star and three-star
categories is expected to be in the range of 8-10% per annum from 2008 to 2011, while
the average supply CAGR is estimated to be approximately 22% per annum over the
same period according to global property consultants, Cushman & Wakefield. In their
latest report The Voyage, 11 key hospitality markets in India have been assessed to
reveal that NCR (20%), Mumbai (15%) and Bangalore (14%) are expected to witness
the highest compounded annual growth in demand from 2008 -2011.
Date: 02/02/09




       RELIANCE Retail has dumped its cash & carry business, or wholesale trading
plans, with the entire operational management headed for an exit.
Date: 03/02/09
       INDIATIMES Shopping, the country’s leading online shopping portal, has
partnered Flora 2000, a leading flower services provider, to deliver fresh flowers across
the globe in as many as 150 countries.
Date: 04/02/09
        Banks are now free to charge an annual interest rate of up to 49% from credit
card customers for late payment. A three-member bench headed by Justice BN Agrawal
put on hold the National Consumer Disputes Redressal Commission’s order on the pleas
of various banks.
       THE Bombay High Court on Tuesday upheld the state government’s decision to
phase out 25-year-old taxis plying in the city.
Date: 05/02/09

Date: 06/02/09




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                 Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




Date: 09/03/09
       INDIAN subsidiaries, relatively minor cogs in the wheels of large multinational
companies until 2007, have emerged as crucial profit generators, as earnings in
developed Western markets tumble amid the worst economic downturn in a
generation. Barring a few exceptions, the locally-listed units of companies such as ABB,
Glaxo, Siemens, Cummins, Oracle, Suzuki, Whirlpool, Nestle and Areva have increased
their contribution to the global consolidated earnings, as growth remains robust in
various sectors of Indian industry.
       THE department of telecom (DoT) has asked state-owned telcos BSNL and MTNL
to stop providing 3G services, such as high-speed internet and video conferencing, on
the mobiles until the country’s security agencies put up the requisite infrastructure to
track these high-end services.
Date: 10/03/09
       GenNext of the Adi Godrej family, daughters Tanya Dubash and Nisa Godrej, are
increasingly taking active roles in Godrej Consumer Products (GCPL), the group’s
flagship FMCG Company.
   The FMCG companies in the group — Godrej Consumer Products (GCPL), Godrej Sara
Lee (GSLL) and Godrej Hershey’s (GHL) — will be looked by a team of senior executives,
which insiders refer to as the FMCG cell, and which will be headed by A Mahendran, the
managing director of Godrej HiCare and Godrej Sara Lee.
Date: 12/03/09
       FRENCH food services giant Sodexo is acquiring Radhakrishna Hospitality Services
Group (RKHS), India’s pioneer in the food and facilities management sector, for $100
million, or roughly Rs 520 crore.
       TELECOM regulator Trai has endorsed the communications ministry’s proposal to
impose a three-year lock-in on promoters of a clutch of companies that recently acquired
telecom licences.
       SKS Microfinance, the largest microfinance provider in the country in terms of
assets, is eyeing China as its next destination for expansion.
       Finnish mobile handset maker Nokia is in talks with leading music content
providers and music companies for rolling out its virtual music stores in India. The
company is tying up with around 150 music companies including Universal Music, Warner
Bros, Sony BMG and other national music leaders.
Date: 13/03/09
       BHARTI Airtel on Thursday carried out a significant reorganisation of its top
management elevating Sanjay Kapoor, its president for mobile services, to a newly
created position of deputy CEO.
       RELIANCE ADAG is acquiring 51% stake in UK-based currency exchange and
money transfer firm No 1 Currency to foray into the international forex business and to
tap onto the 1.6 million NRI populations in the country for money remittance business.
       HARDCASTLE Restaurants, the JV partner of McDonald’s India, is now venturing
into the apparels business. The company will be bringing in two Disney brands — Disney
Baby and Disney Jeans — into the country, in partnership with the Jalan family, the
promoters of Mumbai-based Prakash Cotton Mills. The apparel business will be handled
through the JV Company, Global Trendz Retail (GTR).
   GTR will set up ‘Bungee’ stores across the country that will house the two brands.
Disney Baby is targeted at 0-4 years while Disney Jeans will target the 4-14-year olds.




                                          13
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    The company will bring in characters such as baby Mickey Mouse, baby Donald Duck,
    Pooh and Tigger among others. Speaking exclusively to ET, Hardcastle Restaurants
    MDAmit Jatia said: “After having dealt with the Indian consumer so closely through
    McDonald’s for the past 10-12 years, we feel, we have a good sense of their
    requirements.”
    Kids’ apparel market in India is worth around Rs 13,000 crore, of which, branded retail is
    nearly Rs 3,000 crore and has been growing at 15-20% YoY. Gini & Jony, Weekender
    Kids, Ruff and Zapp! Are some of the other brands in the kids-wear space?
           Wipro Infotech, along with the Middle East IT business arm of Wipro, has bagged
    an IT outsourcing contract from Employees’ State Insurance Corporation (ESIC) worth
    Rs 1,182 crore. The contract — one of the largest e-governance projects to be awarded
    in India — is spread over 78 months under the build-own-operate-transfer (BOOT)
    mode. Wipro will implement software packages, build the IT infrastructure, and establish
    an automatic system for providing ID cards under the social security scheme.




        Date: 14/03/09
   Honda Siel Cars India (HSCI) plans to bring diesel technology to its line up in India.
    Honda currently produces a 2.2-litre diesel engine, which is available in Europe in its
    Accord sedan. Honda’s entire range in India — City, Civic, Accord and CRV — is small car
    Jazz in India despite the financial slowdown affecting consumer sentiments.
    Date: 15/03/08
   The Centre has been awaiting a reply from state governments on its Rs 5,000-crore
    package to create one million affordable houses. In fact, the Centre has given a major
    incentive for the states to engage private developers by agreeing to dole out 25% of the
    total cost of external services such as drainage, roads, sewage and water supply as
    grant to state governments.




                                               14
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Date: 16/03/09
   AMERICAN Tower Corporation (ATC), one of the top three independent tower companies
    in the US, is set to acquire Xcel Telecom, founded by former BPL Mobile chief executive
    Sandip Basu, in a deal worth over Rs 700 Crore.
   BHARTI Airtel, the country’s largest telco by subscribers, will restructure its businesses
    into nine verticals under different CEOs, as it looks to expand into areas beyond its
    mainstay, voice telephony.India’s fourth-most valuable listed company, with a market
    capitalisation of around $22 billion (Rs 1,06,000 Crore), has already identified some of
    these verticals: mobile commerce, entertainment, media, internet, enterprise services
    and small & medium businesses.
   TATA Motors has applied for patent protection for over 37 inventions and innovations
    linked to its high-profile affordable car, Nano, in an aggressive move to protect the
    brand against imitation in the ultra-competitive car industry. It is also close to filing
    intellectual property rights (IPRs) claims for Nano in overseas markets.
    Date: 17/03/09
   In a move that could pave the way for new investors to step in, Pantaloon Retail will spin
    off two of its biggest revenue grossers—Big Bazaar and Food Bazaar—into a new entity,
    Future Value Retail.
    Date: 18/03/09
   THE country’s second-largest lender, ICICI Bank, is looking at setting up a new entity to
    house its automated teller machines (ATMs) and point-of-sale (PoS) terminals, which
    accept credit and debit card payments. The bank has sought bids from banking
    technology companies and private equity players for participating in the proposed
    entity. This is the first time that an Indian bank is planning to transfer its ATM and PoS
    assets to a separate company.
   PRICEWATERHOUSECOOPERS (PwC) plans to bring in partners from its international
    affiliates to do an independent audit of its clients in India, besides what is being done by
    its Indian partners. The move is part of the global consulting major’s proposed image-
    building exercise in the country.
   BOARD of Cricket Control for India (BCCI) has sold the telecast rights for the second
    season of the Indian Premier League (IPL) to World Sports Group-Mauritius for over Rs
    335 Crore, 50% higher than its deal with Sony Max, a channel owned by Multi Screen
    Media (formerly Sony Entertainment Television).
    Date: 19/03/09
   IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street
    Journal reported, in a deal that could bolster their computer server products against
    rivals such as Hewlett-Packard Co.
    Date: 20/03/09
   INDIA’S inflation rate skidded to a record low of 0.44% in the first week of March, well
    on course for a widely expected move into negative territory, triggering hopes
    authorities would be forced to intervene with steps to shore up demand in the economy.
   DABUR India has put its wellness retail chain ‘new-u’ (a chain of health and beauty
    stores) on the block, just two years after announcing its launch in March 2007. The
    Delhi-based FMCG company has mandated Grant Thornton to get a buyer for its retail
    venture, people familiar with the matter said. They said Dabur has lost interest in the
    chain as the economic downturn has made the environment tough for the company to
    pursue its retail plans.




                                                15
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   INDIA is mulling a proposal to let state-run trading companies import ready-to-eat
    refined sugar at zero duty to bridge the widening gap between local demand and supply.
    It is also planning to allow mills to import semi-refined sugar at zero duty to keep a lid
    on prices that could flare up in the summer months when consumption of soft drinks and
    ice creams rises.
   HALF-a-dozen new regional airlines are expected to start operations this year, despite a
    majority of the existing companies recording a combined loss of over Rs 10,000 Crore.
    Star Aviation, Zav Airways, King Airways, Sky King Aviation, Premier Airways and a
    cargo carrier have received permission to import aircraft and start operations in the
    country.
    Date: 21/03/09
   GOLD deposit scheme is back. The rising cost of gold imports has once again prompted
    the largest public sector bank of the country SBI to re launch its gold deposit scheme to
    help bring privately-held stock of gold in circulation and reduce country’s dependence on
    imported gold. This scheme, which was first launched in November ‘99 at the initiation of
    the then Union finance minister Yashwant Sinha in the Budget 1999-2000, did not gel
    well with the public at large and was thus withdrawn within a few years of its launch.




    Date: 22/03/09
   MAKE an ad Put it on air at prime time. And yet, don’t pay for it. Sounds crazy? But this
    is exactly what’s happening to the new Limca ad “Haseen Lamho Ko” starring Sushma
    Reddy. Coca-Cola India is not paying music channels a single penny for running its two-
    and-a-half-minute commercial.
    Date: 23/03/09
   Thums Up, owned by the Coca-Cola Company that also owns the world’s largest-selling
    cola Coke, has close to 16.4% share in the country’s aerated drink market as compared
    with Pepsi’s share of about 13%.
    Date: 24/03/09
   THE Tata group is learnt to have set in motion a major revamp exercise at group
    company, Tata Tea, that would consolidate varied beverages businesses such as tea,
    water and soft drinks under a single entity to simplify operational issues and also raise
    funds. The consolidated entity will result in a clear holding, operating and reporting
    structure, which would cut costs sharply. As part of the move, the group is also exploring
    plans of merging Mt Everest Mineral Water with Tata Tea, and consolidating the
    Himalayan brand under the Tata fold.
    Date: 25/03/09
   IDEA Cellular has forayed into international long distance (ILD) business, and is currently
    negotiating inter-connect agreements with international operators for direct routing of




                                                16
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    calls. The AV Birla group company is also ramping up national long-distance (NLD)
    infrastructure to carry more traffic on its networks.
    Date: 26/03/09
   TATA group company, Tata Communications (TCL), by selling a minuscule portion of its
    stake in the unlisted Tata Teleservices (TTSL), has recovered over half its initial
    investment. On Wednesday, TCL sold a 1% stake in TTSL for Rs 424 Crore. It was in
    2002 when TCL, then called Videsh Sanchar Nigam Limited, acquired a 19.9% stake in
    TTSL for Rs 636 Crore. Over time, with changes in the shareholding structure, TTSL’s
    stake went down to under 15%.




    Date: 27/03/09
   The government is slated to issue a stipulation that for a company to be classified as an
    Indian-owned and controlled company, its positions of chairman, managing director,
    chief executive officer and chief financial officer should be filled by resident Indians.
   THE Board of Control for Cricket in India (BCCI) is learnt to have tweaked the IPL 2
    format. The board plans to introduce two fiveminute ‘strategy breaks’ — essentially ad
    breaks after every 10 overs, per match, during telecasts. This will add 600 seconds of
    commercial time per match. This is part of a renegotiation deal with broadcaster Multi
    Screen Media (MSM, earlier Sony Entertainment).
   GLOBAL fashion design house Donna Karan International, part of the world’s leading
    luxury goods group LVMH Moet Hennessey Louis Vuitton, is set to enter India. The
    company on Wednesday signed an agreement with DLF Brands, the retail arm of real
    estate major DLF Group, to set up exclusive DKNY stores in India. DKNY, currently a
    public-traded venture, was founded in 1985 in New York by Donna Karan and her late
    husband Stephan Weiss. It was later purchased by LVMH Moet Hennessey Louis Vuitton.
   Annual inflation rate came down from 0.44% to 0.27% for the week, the lowest in the
    last 32 years, mainly because of a high base effect.
   DLF has slashed rates for one of its upcoming housing projects in its home market
    Gurgaon by 20%. The move is to discourage existing buyers from defaulting on payment
    and induce new buying, following cuts in home prices in Bangalore and Chennai. DLF’s
    move is likely to pressure on other developers to bring down property prices in the
    national capital region, which has not seen many property firms so far coming forward
    and significantly cutting prices.
    Date: 28/03/09




                                               17
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   WITH the burgeoning aspirational Indian middle class looking at affordable housing in
    and around big metros and tier I-II cities, Godrej Group is set to invest a whopping Rs
    5,500 Crore in affordable housing projects in Ahmedabad. The project spread over 30
    million square feet will have close to 30,000 units priced around Rs 25 lakh.
    Date: 29/03/09
   AS the clock struck 2030 hours on Saturday, entire cities across the planet went dark.
    ‘Earth Hour 2009’ was observed by billions of people, by switching off non essential
    lights, in a bid to raise awareness about global issues of climate change.
    Date: 30/03/09
   THE West Bengal government, which is keen to spread organic cultivation, has resolved
    to set up one bio-village in each of the 341 blocks in the state in the next two years. The
    objective behind setting up bio-villages is to create role models for adaptation to organic
    farming. Already 75 bio-villages have been set up across the state up to 2007-08 since
    its launch in 2004-05.
    Date: 31/03/09
   LUXURY car makers Mercedes Benz India and BMW India have opposed the concessional
    8% excise duty on small cars measuring under four metres in length and that have
    engine capacities of up to 1,200cc (petrol) and 1,500cc (diesel). They have said that
    such benefits skew the market in favour of small cars as bigger cars pay 20% excise
    duty. Passenger safety, emission norms and fuel efficiency standards should be the sole
    criteria for extending lighter duties and not the length of the car.
    Date: 01/04/09
   VOLKSWAGEN India, the wholly-owned subsidiary of the world’s third-largest vehicle
    maker, will start assembling the Polo, its top-selling model, at its greenfield plant at
    Chakan from next year. It will also introduce the Polo sedan as a variant model next
    year.
    Date: 02/04/09
   The Henkel India board has appointed Jayant K Singh as MD in the place of A Satish
    Kumar, who will continue to be non-executive director. It is a JV of Tamilnadu
    Petroproducts and Henkel, Germany.
   About 25 million mobile users using handsets purchased from the grey market may see
    their services disconnected from Thursday, as telecom operators would block those
    phones without a valid International Mobile Equipment Identity (IMEI).
    Date: 03/04/09
   Maruti Suzuki will launch its sixth global car, Ritz, in May. The mass market car will be
    launched in the popular small car segment and will be priced between Rs 4 lakh and Rs 5
    lakh, which is just below Swift’s price tag.
   Now in its fifth year, the India Inc’s Most Powerful CEOs survey is conducted by IMRB
    International. The survey covers around 500 executives in senior, middle and junior
    management in prominent companies across five cities.




                                                18
                    Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 04/04/09
   THE world’s largest search engine company Google is rumoured to be in talks to buy the
    world’s largest micro-blogging site Twitter.com. California-based Twitter.com offers an
    SMSbased service that allows people to send short text messages to a network of
    friends.
    Date: 05/04/09
   MICROSOFT Corp on Wednesday launched a new range of server systems for small
    companies, scaling down its existing offerings to attack one of the fastest-growing
    segments of the business computing market. Microsoft’s new product line, called
    Windows Server 2008 Foundation, can accommodate up to 15 users and will cost less
    than $1,000 for the hardware and software combined.
    Date: 06/04/09
   Piramal Healthcare appointed Nandini Piramal, daughter of chairman Ajay Piramal, as
    executive director. At Godrej, too, with chairman Adi Godrej moving out of day-to-day
    operations, daughters Tanya Dubash and Nisa Godrej now hold key positions. Bisleri
    controls 60% of packaged water market. EVEN Parle Agro is run by the daughters of
    Ramesh Chauhan’s brother Prakash Chauhan. Eldest daughter Schauna is Parle Agro
    CEO while second daughter Nadia is a director and is in charge of product development,
    marketing and sales. The youngest, Alisha, heads Parle Agro’s fitness centre brand, V3.




                                              19
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 07/04/09
   ANUSLI Wadia group firm has agreed to buy out French giant Danone’s equal stake in
    biscuit major Britannia, ending an acrimonious three-year battle and bringing the curtain
    down on one of India Inc’s long-running business partnerships.
   PRIVATE telcom giant Bharti Airtel’s $750-million outsourcing deal with IBM has touched
    the $2.5-billion mark as of March-end 2009.
   COCA-COLA Co is using micro-dosing technology from drugmakers, a smart phone
    operating system from Microsoft Corp and style tips from Italian auto designers in its
    latest attempt to revive falling sales of fountain drinks. Code-named “Jet,” the company
    will test the touch-screen-operated fountain in less than 10 Atlanta restaurants starting
    this month and another 70 or more in Southern California during the summer. The
    company declined to say where the expanded trials would take place or whether any Jets
    have been pre-sold.
   RPG Group’s retail flagship Spencer’s Retail is making a major foray into lifestyle
    retailing. The retail major plans to set up five standalone stores of the iconic US fashion
    brand Beverly Hills Polo Club (BHPC). Spencer’s will initially set up all five stores in the
    National Capital Region (NCR) and will then take it across the nation in a phased
    manner.
   MAHINDRA Yueda Yancheng Tractor Company (MYYTCL), a joint venture between the
    Mahindra group and the Yueda Group of China, on Monday rolled out its maiden 125-hp
    tractor from its Chinese factory. The Mahindra group holds a 51% stake in the JV
    through Mahindra Overseas Investment company (Mauritius), a subsidiary, while the
    Chinese partner holds the remaining equity. The plant at Yancheng, China has an annual
    production capacity of 38,000 tractors. The JV was signed in mid-2008 and has a
    registered capital of Rs 195 Crore.
    Date: 08/04/09
   PRIVATE jet-setting is going the mobile telephony way, with the slowdown forcing small
    aircraft leasers to issue pre-paid packages offering steep discounts. Jetliners such as
    BJETS, VistaJet and Club One Air now offer pre-paid ‘timeshares’ in which you can buy a




                                                20
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    fixed 25-hour “all-expenses-included” flying package for Rs 2.7 lakh or Rs 3.5 lakh per
    hour, with a validity of one year, and fly to any part of the world.
    Date: 09/04/09
   CZECH auto giant Skoda, part of German automaker Volkswagen, is stepping up the gas
    in India and plans four new launches by next year which will see it entering the small
    car, MPV and SUV segments.
    Date: 10/04/09
   TATA Motors has received its first commitment to refinance the $2-billion bridge loan,
    which funded the Jaguar-Land Rover acquisition, with Standard Chartered Bank
    approving a $200-million loan.
   GLOBAL IT major IBM has bagged yet another outsourcing deal from Bharti Airtel, the
    country’s largest private telecom company. IBM will manage the IT requirements of
    Bharti’s hived-off tower arm, Bharti Infratel. The deal is estimated to be worth around Rs
    250 Crore.
   NEW launches and competitive pricing has helped Maruti Suzuki, Hyundai, Mahindra &
    Mahindra and Fiat beat market trends and record positive growth in 2008-09. However,
    auto majors like Tata Motors, Honda, General Motors, Toyota, Ford, Skoda and
    Mahindra-Renault posted negative sales for the same period. For the first time in eight
    years (since 2001), the passenger vehicle industry, which includes cars and utility
    vehicles, recorded -0.5% growth rate.
    Date: 11/04/09
   A GROUP of food & beverages (F&B) companies, including Hindustan Unilever, Coca-
    Cola, PepsiCo and Kellogg’s, has come together to stop marketing junk food to children
    below 12 years, to help check the rising menace of obesity.
    Date: 12/04/09
   Internet giant Google on Monday unveiled an online resource in English and Hindi for
    voters taking part in India’s general elections later this month. The Google India
    Elections Center allows Indian voters to go online to confirm their registration status,
    locate their polling place and view their constituency on a map. A partnership with The
    Hindustan Times and several non-profit groups, the India Elections Center also provides
    information about candidates and offers links to electionrelated news, blogs, videos, and
    quotations. Users of the site can evaluate the status of development in their constituency
    using a range of indicators.
   Wipro Infotech on Tuesday announced that it has been rated India’s Number one Green
    Brand and among the top five Global Green Brands in the World as per the latest edition
    of Greenpeace’s “Guide to Greener Electronics” ranking.
    Date: 13/04/09
   UK’s United Biscuits, the world’s third-largest biscuit company, is exploring
    manufacturing and marketing opportunities to tap the Rs 6,000-crore-plus organised
    biscuits market in India.
     The biscuits and snacks maker with estimated revenues of £1.1 billion ($1.6 billion),
    which owns brands such as McVitie’s, Jacobs, Skips and Hula Hoops, is in exploratory
    talks with several biscuit companies, including Parle Products, owned by Sharad and
    Arup Chauhan.
    DESPITE the global financial crisis, inflow of foreign capital to the country has increased
    sharply in 2008. The aggregate inflow of foreign direct investment (FDI) has more than
    doubled in 2008 — up 113.3% from Rs 65,495 Crore in 2007 to 139,725 Crore last
    year.




                                                21
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



        Interestingly, capital inflow from the US, which has suffered most from the financial
    crisis, has increased 107.3% last year against a rise of only 9.6% in the previous year.
    The US’ share in India’s total FDI inflows, however, has declined further in 2008 as the
    total FDI inflow has grown at a higher rate. The share of US in India’s total FDI inflow,
    for that matter, has been declining steadily over the years. From about 11.5% in 2000,
    US’ share in India’s total FDI inflow has come down to only 5.4% last year.
        The fall in the US’ share in our aggregate FDI kitty has led to a major change in the
    order of India’s investment partners. Mauritius has become India’s biggest investment
    partner in the new millennium, replacing the US. Its share in India’s aggregate FDI
    inflow has increased dramatically from about 19% in 2000 to 43.7% last year. Mauritius
    accounted for about half of India’s total FDI inflow in 2007.
   Aditya Birla group retail subsidiary Aditya Birla Nuvo is planning to open 20 more
    showrooms of its premium fabric brand ‘Linen Club’.
    Date: 14/04/09
   THE Kishore Biyani-led Pantaloon Retail on Monday announced a slew of measures that
    includes raising funds, transferring divisions and re-christening itself. The board has
    approved preferential allotment of 11 million equity shares to raise Rs 201.30 Crore and
    5 million warrants aggregating Rs 91.5 Crore to the promoters. It has also decided to
    issue 4.1 million shares amounting to Rs 75.03 Crore to Dharmyug Investments, an
    investor. All the issues —equity and warrants — are priced at Rs 183 a share.
    Date: 15/04/09
   THE Nusli Wadia group on Tuesday bought its French partner Groupe Danone’s equal
    stake in biscuit major Britannia Industries for an undisclosed amount, bringing the
    curtain down on one of India Inc’s long-running business partnerships.
    Date: 16/04/09
   THE Munjals of the Hero Group pulled out of a joint venture with Daimler to make
    commercial vehicles in India, citing the poor performance of the segment. But the
    German auto major vowed to go it alone and signalled its determination to use the
    country as a “bridgehead to enter other emerging markets”.
    Date: 17/04/09
   COLORS has overtaken Star Plus to become the top general entertainment channel
    (GEC).
    Date: 18/04/09
   VOLKSWAGEN’S global vehicle sales fell by 11.4% in the first quarter but its market
    share gains may have let it overtake Japan’s Toyota Motor as the world’s top-selling
    automaker. Government incentives in key markets have fueled demand for the German
    group’s vehicles, limiting its sales decline even as the global market shrank by more
    than a fifth.
    Date: 19/04/09
   TECH Mahindra on Monday agreed to pay Rs 58 a share or Rs 1,756 Crore to buy 31% of
    beleaguered IT company Satyam Computer Services. It pipped L&T, which bid Rs 45.90
    per share, and Wilbur Ross, which bid Rs 20 apiece. Tech Mahindra will now make the
    20% mandatory open offer, taking its stake in Satyam to 51% and the total
    consideration to Rs 2,889 Crore. The bid values Satyam, once ranked India’s fourth
    largest IT exporter, a little over $1 billion. Tech Mahindra is now in talks with several
    financial institutions to raise money to fund the acquisition. The Company Law Board
    also gave its approval to the sale. Tech Mahindra now has to deposit money for the 31%
    stake in an escrow by Tuesday. Apart from legal troubles, the Mahindra & Mahindra




                                               22
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    group firm also has to deal with a larger-than-required workforce at Satyam. The
    chairman of Satyam’s government- appointed board said about 3,000- 5,000 employees
    were ‘excess’ at the firm.
   Nokia, the world’s largest mobile handset company, has formed a joint venture with HCL
    Infocomm to set up exclusive retail outlets that will sell handsets and services directly to
    consumers in India, taking advantage of a provision that allows foreign firms to own
    majority stakes in such ventures. Nokia will hold a 51% stake in the venture with HCL
    Infocomm, a 100% subsidiary of HCL Infosystems.
    Date: 20/04/09
   MARUTI Suzuki, which makes every second car sold in India, is investing Rs 1,200 Crore
    to replace engines of existing models with a new light-weight fuel-efficient one that will
    conform to a new national emission standard to come in place next year. “While all our
    new launches will be on the new engines, in the long term, we plan to gradually replace
    our existing series of engines with the fuel efficient KB series engines,” said Maruti
    Suzuki India MD & CEO Shinzo Nakanishi.
    Date: 21/04/09
   RBI has been extremely active in its second round of special market operations (SMR) to
    buy back oil bonds. Dealers say the central bank has been buying around Rs 700-800
    Crore of oil bonds from the three state-run oil companies (HPCL, BPCL and IOC) daily for
    the past few days. With traders showing little appetite for debt other than government
    securities, RBI seems to have come to the rescue of these oil companies stuck with
    illiquid paper.
    Date: 22/04/09
   Just when banks felt they had sold their point — that a rate cut by RBI would not result
    in lower lending and deposit rates — RBI in its annual policy cut the benchmark repo and
    reverse repo rates by 25 basis points each, to 4.75% and 3.25%, respectively. Repo is
    the rate at which RBI lends to banks while reverse repo is the rate at which banks park
    their surplus money with the central bank. With banks placing over Rs 1 lakh Crore with
    RBI everyday — the amount of surplus money in the system — a lower return under
    reverse repo may prompt banks to park less money with the central bank.
    Date: 23/04/09
   THE US cotton industry has expressed its concern over subsidies being provided by the
    Indian government to its cotton growing farmers, alleging it is in violation of the World
    Trade Organization’s (WTO) norms.
    Date: 24/04/09
   JEWELLERY demand from India has helped cushion the industry from recording a sharper
    decline in offtake in 2008.
   PHILIPS Electronics India has decided to revitalise its retail strategy to maintain robust
    growth rate amid the slowdown. The Dutch major plans to set up exclusive ‘experience
    zones’ in multi-brand electronic stores and modern retail chains across four key
    segments — health, home cinema, water solution and personal grooming. This will be in
    addition to revamping its exclusive brand stores ‘Arena’ which will henceforth focus on
    building the Philips’ brand in the health and well-being segment in India. Philips plans to
    set up 400 experience zones across the country by December 2009. It has already set
    up 35 such zones in the National Capital Region (NCR).
    Date: 25/04/09
   MARUTI Suzuki, which makes every second car sold in India, reported 18% lower profits
    in the fourth quarter despite higher sales. High commodity prices, high interest rates and




                                                23
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    lack of excitement in the market have affected both its profitability and sales, said Maruti
    Suzuki managing director Shinzo Nakanishi.
    Date: 26/04/09
   V. VAIDYANATHAN, executive director, ICICI Bank, has been appointed MD & CEO of
    ICICI Prudential Life Insurance Company (ICICI Life). He takes over from Shikha
    Sharma, who is slated to step down on April 30, 2009. Sandeep Bakhshi, MD & CEO,
    ICICI Lombard General Insurance Company (ICICI General), has been appointed ED of
    ICICI Bank and will be responsible for retail and rural banking. Mr Bakshi's post has been
    filled by Bhargav Dasgupta, ED, ICICI Life.
    Date: 27/04/09
   Reliance Industries (RIL) has got the maximum number of trademarks in the financial
    year 2007-08, while FMCG major HUL received the highest number of patents in the
    same period, industry body CII has said. RIL was granted 816 trademarks during the
    fiscal, whereas Hindustan Unilever, part of UK-based FMCG major Unilever, got 311
    patents in the same period.
    Date: 29/04/09




                                                24
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   THE Anil Agarwal-controlled Vedanta Resources has bought 9.5% in a Canadian mining
    company, setting the stage for another takeover battle in the North American continent,
    its second in the last one year. Vedanta paid about $80 million for the stake in Hudbay
    Minerals, an integrated miner, with revenues of around 900 million Canadian dollars.
    Date: 30/04/09
   BHARTI Airtel surprised the market with a better-than-expected 21% jump in fourth
    quarter net profit. he country’s largest mobile phone operator managed to post a net
    profit of Rs 2,239 Crore in the three months to end-March, despite forex losses of Rs 236
    Crore. The company announced a maiden dividend of Rs 2 per share and said it will split
    its shares of Rs 10 face value into two shares of Rs 5 each.
   THE MobileStore (TMS), Essar group’s telecom retail arm, has launched handsets under
    the brand name ‘Ray’. RAY M20 is the cheapest at Rs 2,399 and comes with an FM radio,
    MP3 player, expandable memory and GPRS.
    Date: 01/05/09




                                               25
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   BHARTI Airtel has entered into a joint venture with Franco-American telecom gear maker
    Alcatel-Lucent to manage its landline and broadband business, expanding its tested
    strategy of outsourcing technology functions to focus more on marketing and
    sales. Bharti, India’s largest telecom company, will be the minority partner in the 26:74
    joint venture, and will invest Rs 2,500 Crore into the new entity over five years.
    Date: 02/05/09
   AFTER Chennai-based Subhiksha, value retailer Vah Magna is facing the heat of the
    credit crunch that has hit its operations. The Hyderabad-based firm, which has Rs 75
    Crore debt on its books, has defaulted on payments to some of its suppliers and shut
    over a dozen outlets.
    It is now restructuring its loans to tide over the crisis, said director of Vah Magne
    Anjaneyulu Kakkera. He was the founder of the Trinetra retail network, which he sold a
    few years ago to the Aditya Birla Group.
   CITIGROUP Inc, under pressure to raise capital, agreed to sell its Japanese securities
    units to Sumitomo Mitsui Financial Group Inc for 545 billion yen ($5.5 billion).
    Date: 03/05/09
   CAR and two-wheeler sales saw the fifth straight month of growth in April, helped by the
    government’s stimulus packages, cuts in lending rates and elections, which boosted
    demand for vehicles, especially jeeps and SUVs.
   Two-thirds of the $150 million that Satyam Computer Services raised from US investors
    through issue of American depository shares (ADS) in 2001 is not traceable, the Serious
    Fraud Investigation Office (SFIO), which probed India’s biggest corporate scam, has
    found.
   CORE sector growth is back on track. The index for six core industries—crude oil,
    petroleum refinery products, coal, electricity, cement and finished carbon steel—has
    turned in a growth of 2.9% in March 2009 over March last year. This has been the
    highest growth rate in the last six months, and higher than the average of 2.7% for
    2008-09 as a whole.
   The ministry of health & family welfare will stockpile 10 million doses of anti-viral drug
    oseltamavir in the next seven days as a precautionary measure against a possible
    outbreak of swineflu.
   Inflation edged up to a seven-week high of 0.56% for the week to April 18, defying
    expectations of a drop towards zero.
   HEWLETT-Packard Co, the world’s top PC maker, is launching a new line of inexpensive
    business laptops with fresh features targeting users at small and medium-size
    companies.
   Microsoft said on Thursday that a nearly-final version of its nextgeneration Windows 7
    operating system will be publicly released on 5 May. The release will be available at their
    website in a move intended to signal that the software giant is putting finishing touches
    on an operating system that it hopes will escape criticism heaped on its predecessor
    Vista.
    Date: 04/05/09




                                                26
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   BMW India, the fully-owned subsidiary of the world’s largest premium car maker BMW
    Group, will launch its twoseater Roadster Z4 sports car in India in the second half of
    2009 and will add 10 dealers in tier-II cities such as Coimbatore, Jaipur, Lucknow and
    Ludhiana.
    Date: 06/05/09
   INDIAN Hotels, owner of the Taj Group of hotels, has bought 2.25 million shares of the
    New York-listed Orient Express Hotels (OEH) at $5.75 a share, in a market transaction
    totalling $12.93 million (about Rs 64.65 Crore).
   INDIA’S largest engineering company Larsen & Toubro on Tuesday formed a joint
    venture with European major EADS to make products for the Indian defence segment.
    The aim is to subsequently develop the JV as a manufacturing hub for the global
    market.
   THE Sahara group has picked up an 11.7% stake in Chennai-based telecom company S
    Tel, which has licences to operate in several northern and eastern states.
   Dr Pronab Sen, the country’s chief statistician, the economy could be back on a high
    growth trajectory earlier than expected and grow all of 8% in the current fiscal that
    started in April.
   MAHINDRA & MAHINDRA (M&M), the country’s No 1 utility vehicle maker, has created a
    record of sorts in April, with three of its models taking pole position in the domestic
    utility vehicles (UV) segment. Sales of M&M’s Xylo, Bolero and Scorpio models last
    month overtook Toyota’s Innova and the Sumo and Safari models of Tata Motors.
    Date: 07/05/09
   TATA Sons has sold around 1% of its stake in TCS, the group’s biggest company by
    market cap, to help refinance a $2-billion bridge loan taken by Tata Motors.




                                               27
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   AFTER THE CAR, TATAS TO ROLL OUT NANO HOMES. TATA HOUSING TO OFFER 1,200 ‘VALUE HOMES’ IN
    THE RS 3.9 LAKH TO RS 6.7 LAKH RANGE NEAR MUMBAI
    Date: 08/05/09
   BHARATI Shipyard, a company promoted by two ex-IITians PC Kapoor and Vijay Kumar,
    has acquired a sizeable stake in Great Offshore, a firm till now controlled by a faction of
    Mumbai’s Sheth family.
    The transaction, involving the transfer of ownership of 14.89% shares pledged by Great
    Offshore promoter Vijay Sheth, is a precursor to Bharati taking management control.
    The deal is a fallout of Mr Sheth’s inability to raise money to free the shares he had
    pledged to raise funds.
   THREE Indian-origin CEOs, Indra Nooyi, Francisco D’Souza and Ramani Ayer, have
    figured among the best US chief executives in the seventh annual listing of best
    American CEOs by the Institutional Investor magazine.
   IMPORTED gas, sold on the west coast and north India, is now cheaper than domestic
    gas, after a sharp fall in global gas prices. While power and fertiliser companies like
    Chambal Fertilisers and IndoGulf in west and north India are buying gas from Reliance
    Industries (RIL) at a delivered price of around $6.85 per unit (million British thermal
    units), power plants in Uttar Pradesh are set to buy imported liquefied gas at $6.22 per
    unit.
   AIRCONDITIONER (AC) and refrigerator sales spiked 30-35% in April compared to same
    month last year on the back of rising mercury levels in the country. Consumer durable
    firms say demand was particularly strong in the northern and southern parts of the
    country.The growth in AC sales was largely driven by the split models which has, over
    the years, been selling more compared to the cheaper window ACs. In the case of
    refrigerators, growth was led by the mass direct cool segment.
    Date: 09/05/09
   TOYOTA Motor Corp, the world’s biggest automaker, forecast a much bigger-than-
    expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this
    year, leaving it desperately trying to cut costs in the grip of a severe market downturn.
    Date: 10/05/09
   ENGINEERING firm Larsen & Toubro will sell its 11.5% stake in Aditya Birla group
    company UltraTech Cement by December 2009 for close to Rs 800 Crore.
   Realty firm DLF promoter KP Singh and his family is close to selling their 7% stake in the
    firm to foreign and domestic institutional investors for around Rs 3,000 Crore.
   GOVERNMENT will in five years shift to a new accounting system for its annual financial
    statements, where transactions are recorded in the books even if cash changes hands
    later.
   Over 2.5 Crore owners of cheap handsets, that stood to be banned in India as these did
    not have the regulatory unique 15-digit identity-code, can breathe a sigh of relief -- help
    is on the way.
    Date: 11/05/09
   TELEVISION makers seem to have been spared the gloom of slowdown. Thanks to
    consumer spends, both in urban and rural markets, colour televisions have seen an
    uptick in sales, growing 2% to 2.8 million units in the January-March period.
    Date: 12/05/09
   JSW Steel plans to sell its plants in the US to cut rising losses, after a sharp fall in
    demand triggered by the global slump devastated the country’s steel industry. Jindal’s
    American units posted a $61-million loss in the March quarter.




                                                28
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   BOOMING exports of small cars helped car sales clock a year-on-year rise in 2009 last
    month, but a clean bill of health remained elusive for the overall automobile sector, with
    the commercial vehicle segment continuing to contract despite sales of light trucks and
    buses looking up.
    Date: 13/05/09
   MARUTI Suzuki, which sells one in every two cars sold in the country, is scouting for
    expats and Indian engineers working with troubled car makers in the US, Europe and
    Japan to develop its own cars from scratch in India. The local research & development
    (R&D) centre, dubbed to be one of the largest Suzuki facility outside Japan, is being
    strengthened to develop cars independently.
    Date: 14/05/09
   ALMOST three years after the much hyped launch of Windows Vista, Microsoft is all set
    to unveil its new operating system (OS), Windows 7. The former had failed to impress
    the market despite some exciting features.
    Date: 15/05/09
   WITH stocks piling up, India may soon sell another 10 lakh tonne (lt) non-basmati rice to
    poor African nations, raising the total quantity of such exports to 20.5 lakh tone.
    Date: 16/05/09
   THE country’s largest mobile phone operator, Bharti Airtel, said it was looking at big-
    ticket acquisitions abroad in its quest to double its subscriber base, after it became the
    third telco in the world to have more than 100 million customers on a single network.
    Bharti, which launched its mobile operations in Delhi in 1995, announced on Friday that
    it has become the first Indian telco to have 100 million users. Others which have
    achieved the milestone are China Mobile and China Unicom. “If we focus on India alone,
    we will reach 200 million (users) in the next two-and-a-half years, but this will happen
    much faster if we make an acquisition,” Bharti’s chairman Sunil Bharti Mittal said.
   MARUTI Suzuki India (MSI) launched its fifth global car Ritz, in both petrol and diesel
    variants, at an introductory price of Rs 3.90-4.99 lakh ex-showroom in Delhi. Ritz starts
    at Rs 3.9 lakh for the base 1.2-litre petrol variant, while the fully-loaded version, with
    airbags and anti-lock brake system, comes at Rs 4.8 lakh. The Ritz diesel strapped with
    1.3-litre engine comes in two variants, with price tags of Rs 4.65 lakh and Rs 4.99 lakh.
    Date: 18/05/09




                                               29
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Date: 19/05/09
   For the first time in Indian stock market history, trading suspended for hitting the
    UPPER CIRCUIT. The 30-share Sensex ended the truncated session at 14,284.21, up
    2,110.79 points, or 17.3%, over the previous close. The 50-share Nifty ended the
    session at 4,323.15, up 651.50 points, or 17.74%, over the previous close.
    Date: 20/05/09
   TATA Motors on Tuesday raised Rs 1,250 Crore by selling non-convertible debentures
    (NCDs) to Life Insurance Corporation of India (LIC). The NCDs bear a coupon of 10%,
    and have a maturity of seven years. The debt is part of a larger fund-raising programme
    to refinance the bridge loan taken at the time of the Jaguar Land Rover acquisition.
   Personal products company Marico has filed a trademark infringement suit against Aditya
    Birla group company Grasim Industries for infringing on its Kaya Skin Care brand and
    launching skin wipes under a similar-sounding brand, Kara. Marico had launched Kaya
    Skin Clinics in India in 2002, while Grasim’s viscose staple fibre division launched Kara
    Skin Wipes in August 2007.
   INDIA’S Vodafone Essar stole the thunder in the quarterly results of its UK-based parent
    Vodafone Group, accounting for 93% of new user additions and confirming its status
    as one of the few bright spots in the empire of the world’s largest mobile operator.
    Vodafone, which has operations in over 30 countries and is the world’s largest cellphone
    operator by revenues, added 8.4 million net new users during the January-March
    quarter, of which the Indian unit accounted for 7.9 million.
    Date: 21/05/09
   Bharti Wal-Mart, the joint venture between India’s Bharti Enterprises and Wal-Mart, will
    open its first centre in Amritsar.
    Date: 22/05/09
   RELIANCE Capital is planning the first-ever initial public offer (IPO) by an insurance
    company in India by taking its subsidiary — Reliance Life Insurance public. The company
    is looking to divest up to 26% in its insurance arm through an IPO as well as by
    inducting a strategic investor.
   Bata India is trying to drive a hard bargain in pruning rentals for both, new Bata outlets
    and, existing ones by 25-30%, reports Sutanuka Ghosal. The company is also looking at
    reducing borrowings and adopting austerity measures in all areas of operations. Bata has
    firmed up plans to open some 240 stores in the next three years and upgrade another
    80 existing stores. It had opened 62 new stores and renovated 38 existing ones in
    calendar 2008.
   Hyundai Motor India on Thursday launched the LPG variant of its entry-level Sedan
    Accent, priced at Rs 5.34 lakh. The new LPG version of Accent, named ‘Accent Eco’,
    comes with a factory fitted LPG kit approved and certified by the Department Of
    Explosives (DOE) and the Automotive Research Authority of India (ARAI).
    Date: 23/05/09
   BHARTI Airtel and IT firms Infosys, TCS and Wipro have made it to the list of 100 best
    performing technology companies in the world, compiled by American magazine
    Business Week. The ‘Infotech 100’ list for 2009 based on shareholder return, return on
    equity, total revenues, and revenue growth is topped by Amazon.Com for the second
    straight year.
    Date: 24/05/09
   THE Congress-led UPA government, which was sworn in on Friday, will convene its first
    Lok Sabha session from June 1 to 9 and present the Budget in the first week of July.




                                               30
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Date: 25/05/09
   MALVINDER Singh stepped down as chairman and CEO of Ranbaxy Laboratories on
    Sunday, ending his family’s 48-year-old association with the country’s largest drug
    maker and paving the way for Daiichi Sankyo to take complete control of the company it
    had acquired last year.
       A senior Daiichi Sankyo executive, Tsutomu Une, was appointed Ranbaxy chairman,
    and company’s COO Atul Sobti was named CEO and MD for a three-year term. In
    another crucial development, Mr Singh and his two other nominees, Religare CEO Sunil
    Godhwani and Balinder Singh Dhillon, also quit the board. The seven-member board is
    now dominated by Daiichi Sankyo nominees.
   RELIANCE Infrastructure (R-Infra) on Sunday announced that it would sell 42.9 million
    convertible warrants to its promoters, the Reliance-Anil Dhirubhai Ambani Group
    (RADAG), for Rs 4,290 Crore.
    Date: 26/05/09
    THE KK Modi Group is acquiring a 10.8% stake in Godfrey Phillips India (GPI) from joint
    venture partner Philip Morris for estimated Rs 100-125 Crore.
    Date: 27/05/09
   a survey by global consultancy firm The Nielsen, RIL is on top followed by Tata Motors
    and Tata Steel as the most admired companies by stakeholders for their CSR initiatives.
   AFTER suffering a 6% decline in first premium income (FPI) in fiscal 2008-09, the life
    insurance industry is back on the growth path. The first month of the current financial
    year (2009-10) saw a 29% growth in FPI, thanks to Life Insurance Corporation (LIC).
       LIC, whose FPI dipped 10% during the previous fiscal, recorded a 69% growth during
    April 2009. However, private players, which witnessed a 1% growth in first premium
    during 2008-09, saw a 3% fall in the same month.
   WITH elections over, the government will soon consider clearing 21 infrastructure
    projects, at a total cost of about Rs 20,000 Crore, to be implemented jointly by various
    state agencies and private sector developers. The PPPAC cleared two port and five
    highway projects in March with a spending of Rs 5,220 Crore. Since January 2006, the
    panel has approved 101 projects, with an estimated cost of Rs 1,00,384 Crore. These
    include 88 highways, nine ports, two airports, a tourism infrastructure project and a
    railway project.
   ESPN Star Sports India has sold television ad spots worth over Rs 220 Crore for the
    upcoming T20 cricket World Cup.
    Date: 28/05/09
   Major Godrej Consumer Products has approved the merger of two group entities Godrej
    Consumer Biz and Godrej Hygiene Care with itself. Godrej Hygience Care is a 100%
    subsidiary of Godrej Industries, while Godrej ConsumerBiz is a 100% subsidiary of
    Godrej & Boyce Manufacturing Co. The two firms, Godrej ConsumerBiz and Godrej
    Hygiene Care, hold 29% and 20% in Godrej Sara Lee (GSL), respectively, GSL is a joint
    venture between the Godrej Group and US-based Sara Lee Corp. ajor Godrej Consumer
    Products has approved the merger of two group entities Godrej ConsumerBiz and Godrej
    Hygiene Care with itself. Godrej Hygience Care is a 100% subsidiary of Godrej
    Industries, while Godrej ConsumerBiz is a 100% subsidiary of Godrej & Boyce
    Manufacturing Co. The two firms, Godrej ConsumerBiz and Godrej Hygiene Care, hold
    29% and 20% in Godrej Sara Lee (GSL), respectively, GSL is a joint venture between
    the Godrej Group and US-based Sara Lee Corp.




                                               31
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   INDIA’Sleading retail player Future Group’s business ties with Sankalp Retail Value
    Stores, the Indian franchisee of US-based fixed price discount format MyDollarStore, are
    showing signs of strain over issues relating to cash flows, imports and inventory
    management, Future Ventures, the venture capital arm of Future Group, owns around
    28% stake in Sankalp Retail. The group is unwilling to make any new investment in
    MyDollarStore — that sells imported products across segments at a fixed price point of
    Rs 99 — unless Sankalp Retail infuses fresh funds and launches more standalone stores.
    Date: 29/05/09
   The following is the complete list of the Union
    Council of Ministers and their portfolios:
    MANMOHAN SINGH:
    Prime Minister,general administration, personnel, atomic energy
    CABINET MINISTERS Pranab Mukherjee: Finance AK Antony: Defence P
    Chidambaram: Home SM Krishna: External affairs Kapil Sibal: HRD Anand
    Sharma: Commerce & industry Mamata Banerjee: Railways Kamal Nath: Roads GK
    Vasan: Shipping Sushilkumar Shinde: Power Murli Deora: Petroleum A
    Raja: Telecom, IT Vilasrao Deskmukh: Heavy industries, PE Virbhadra
    Singh:Steel Dayanadhi Maran: Textiles M Veerappa Moily: Law Ambika
    Soni: I&B Sharad Pawar: Agriculture, consumer affairs, food & PDS Kumari
    Selja: Tourism, housing Pawan Kumar Bansal:Parliamentary affairs Ghulam Nabi
    Azad: Health S Jaipal Reddy: Urban development Vayalar Ravi: NRI affairs Meira
    Kumar: Water resources BK Handique: Mines, northeast development CP Joshi:Rural
    development, panchayati raj Farooq Abdullah: New/renewable energy Mallikarjun
    Kharge: Labour MS Gill: Sports, Youth affairs Subodh Kant Sahay: Food processing
    industries Mukul Wasnik:Social justice Kantilal Bhuria: Tribal affairs MK
    Azhagiri: Chemicals & fertilisers
    MINISTERS OF STATE WITH INDEPENDENT CHARGE
    Praful Patel: Civil aviation Prithviraj Chavan: S&T & also MoS in PMO, parliamentary
    affairs Sriprakash Jaiswal: Coal, statistics and programme implementation Salman
    Khurshid: Corporate affairs, minority affairs Dinsha Patel: Micro, small & medium
    enterprises Krishna Tirath: Women and child development Jairam
    Ramesh: Environment and forests
    MINISTERS OF STATE
    Shashi Tharoor: External affairs Preneet Kaur: External affairs Ajay
    Maken: Home Mullappally Ramachandran: Home NN Meena: Finance SS
    Palanimanickam: Finance MM Pallam Raju:Defence Jyotiraditya
    Scindia: Commerce & industry Gurudas Kamath: Telecom, IT Sachin Pilot: Telecom,
    IT E Ahmed: Railways K H Muniyappa: Railways Jitin Prasada: Petroleum D Puran
    Deswari: HRD Srikanth Jena: Chemicals & fertilisers Saugata Ray: Urban
    development V Narayanasamy: Planning, parliamentary affairs Panabaka
    Lakshmi: Textiles A Sai Prathap: Steel Harish Rawat: Labour KV
    Thomas: Agriculture, PDS Bharatsinh Solanki: Power Mahadev
    Khandela: Roads RPN Singh: Roads Dinesh Trivedi: Health S
    Gandhiselvan: Health Sisir Adhikari: Rural development Pradeep Jain: Rural
    development Agatha Sangma: Rural development Sultan Ahmed: Tourism Mohan
    Jatua: I&B Dr S Jagathrakshakan: I&B Mukul Roy: Shipping D Napoleon:Social
    justice Tusharbhai Chaudhary: Tribal affairs Arun Yadav: Sports, youth
    affairs Prateek Patil: Heavy industry & PE Vincent Pala: Water resources




                                               32
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   INDIA has become only the second country in the world to have more than 100 million
    CDMA-based (code division multiple access) mobile phone subscribers after the US,
    which has 157 million CDMA users.
    Date: 30/05/09
   OIL bonds and discounts from upstream oil majors, such as ONGC and OIL, helped state-
    owned BPCL post a 62 times jump in net profit to Rs 3,628 Crore in the fourth quarter
    compared with Rs 58.4 Crore in the year-ago period. The profit was despite a 19% dip in
    the company’s net sales to Rs 26,505 Crore as against Rs 32,578.6 Crore in the same
    period last year. The company attributes this profit to positive margins in selling petrol
    and diesel during the quarter. BPCL’s all under-recoveries for the FY09 stood at Rs
    23,575 Crore, which were partly compensated by oil bonds and discounts from the
    upstream oil firms.
        For the financial year ended March 2009, BPCL reported a consolidated net profit of Rs
    633.76 Crore, down 64.2%, over the year-ago period. The firm had a net profit of Rs
    1,769.55 Crore in FY08. The consolidated total income rose 22.8% to Rs 1,37,992.90
    Crore during FY09 from Rs 1,12,410.44 Crore in the previous fiscal. On a standalone
    basis, the company reported a 53.4% decline in net profit to Rs 735.90 Crore as against
    Rs 1,580.56 Crore in FY08.
    Date: 31/05/09
   BHARTI Wal-Mart, an equal joint venture between world’s largest retailer Wal Mart and
    the Bharti Group that owns India’s largest telecom company by sales, on Saturday said
    its first Indian cash-andcarry store will give up to 25% discount over the local wholesale
    market.
    Date: 01/06/09
   WILL you Bing it, or Google it? That’s the big question the world’s biggest software
    company Microsoft will be asking over one billion internet search users across the world,
    after the company will launch its new search engine Bing on June 3, and prepares to
    compete more effectively with Google.
    Date: 02/06/09
   GALLOPING sales in rural India allowed largest car maker Maruti Suzuki and largest two
    wheeler maker Hero Honda to record high double-digit growth year-on-year in May,
    while other players coped with tough market conditions. Sales by Maruti Suzuki India
    (MSI) increased 10% to 70,785 cars and Hero Honda’s sales jumped 23% to 3.82 lakh
    units in May 2009 on the back of increased demand from rural India.
    Date: 03/06/09
   NDIA has seen a huge spurt in overall ATM transactions since April 1, when the use of
    teller machines was made free for all customers irrespective of the bank they banked
    with, thanks to customers opting for multiple and smaller transactions. This trend is
    compelling many banks to reconsider their aggressive branch expansion targets.
        “We have seen close 40-50% rise in both, our customers using other bank ATMs and
    other customers using ours,” said Aspy Engineer, senior vice president and head of
    alternate channels at Axis Bank.
    Date: 04/06/09
   Henkel India has chosen to re launch its flagship brand — Henko Stain Champion. This
    detergent powder and bar has anti-bacterial neem, making it the first detergent powder
    brand in India to offer anti-bacterial and disinfection benefits.




                                               33
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   Nokia will launch Ovi Store in India on Thursday, reports Durba Ghosh. Ovi is Nokia’s
    answer to Apple’s online stores where users can download music, VAS and other content
    for a fee.
    Date: 05/06/09
   ENERAL Motors India (GMI) plans to roll out at least five new models in the next two
    years, despite being hobbled by the financial woes of its once illustrious USbased parent.
   FRITO-LAY, PepsiCo’s snack foods arm, on Thursday announced its entry to the biscuits
    market, to challenge big players like Britannia and Parle. The snack foods company has
    set up a new manufacturing line at its existing plant in Ranjangaon to manufacture Aliva,
    a new brand of locally developed, baked cracker positioned as a healthy snack food.
    Date: 06/06/09
   IN WHAT could be an indication of the economy clawing back, the government’s direct
    tax collections rose 17% in May to Rs 11,919 Crore, shrugging off the past downhill
    trend.
    Date: 07/06/09
   INTEL Corp on Monday launched a lighter, power-saving microprocessor intended for use
    in ultra-thin laptops, a move by the top chip maker to shore up its lead in mobile
    computing. The new processor, dubbed the Pentium SU2700, comes amid investors’
    fears that cheaper processors such as the Atom, designed for use in ultra-cheap net
    books, are cannibalizing the market share for higher-margin, more expensive chips.
    Date: 08/06/09
   PREETHA Reddy, the eldest daughter of Prathap C Reddy, and MD of Apollo Hospitals, is
    set to take over as the heiress of the healthcare power house in a couple of years.
    AS wholesale cash and carry becomes the next big thing in India, Wal-Mart, Tesco,
    Metro and Carrefour plan to invest substantially on training and educating their key
    customers — kiranas, hotels and restaurants.
    Date: 09/06/09
   UK’S TESCO, the world’s thirdlargest retailer, is close to concluding its supply-chain
    integration with Tata-controlled Trent’s hypermarket, Star Bazaar. Such supply-chain
    integration will be part of Tesco’s franchise agreement with Trent — the retail arm of the
    Tata group.
    Date: 10/06/09
   TATA Housing, which announced an affordable housing project starting from Rs 3.9 lakh
    in Boisar, on Monday, said the number of houses that will be offered under the project
    has been increased to 1,300 from 1,000 units.
   WORLD’S leading search engine Google sees India becoming one of the 10 most
    “impactful markets” in the next 3-5 years and is planning to hire locally to drive its brand
    advertising stream of business.
   SOFTWARE application developer RMSI has come up trumps as India’s best workplace in
    a study on India’s Best Companies to Work for 2009 released on Tuesday night.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 11/06/09
   Fiat and partners bought most of Chrysler’s assets, creating the world’s sixth-largest
    carmaker in chief executive officer Sergio Marchionne drive to survive the recession by
    establishing a global presence. Fiat, Italy’s biggest manufacturer, will own 20% of the
    newly-formed Chrysler Group.
    Date: 12/06/09
   SESA Goa, the country’s largest private iron ore exporter, has acquired Goa-based
    Dempo Group’s mining assets for Rs 1,750 Crore in an allcash deal, in a move intended
    to increase its pricing power and strengthen its position in the industry.
   CHENNAI has edged past China as a unitwise volume producer of Nokia cellphones. In
    fact, Nokia’s Chennai factory is now the company’s largest cellphone manufacturing
    facility in the world.
    Date: 13/06/09
   INDIAN Hotels Company (IHCL) will acquire a controlling stake in closely-held Elel Hotels
    and Investments for Rs 680 Crore. Elel is a subsidiary of Delhi-based Claridges Hotel
    Private that holds the lease for the land on which Sea Rock hotel is located in Mumbai.
    Date: 14/06/09
   SATYAM Computer Services cheered the markets by announcing revenues of over Rs
    2,000 Crore and profit of Rs 181 Crore for the Oct- Dec quarter. Satyam’s revenues
    could thus touch around Rs 8,000 Crore, or $ 1.6 billion, based on an extrapolation of
    these results.
   INFLATION for the week ended May 30 dropped to 0.13%, lowest since the government
    started recording such data in 1977-78.
   LEADING notebook player Acer and leading chip manufacturer, Intel, announced the
    launch of the ‘Aspire Timeline Series’ (ATS) of featherweight notebook models in India.
    The notebook models have over eight hours of battery life and is based on Intel’s Ultra-
    low Voltage (ULV) platform.
    Date: 15/06/09
   German luxury car maker Audi plans to increase its dealership network in the country
    and grab a 30% share of the luxury car market by 2011.
    Date: 17/06/09




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 18/06/09
   Indian Banks’ Association on Wednesday appointed Union Bank of India chairman and
    managing director MV Nair as its new chairman. Mr Nair has been appointed as chairman
    following the appointment of KC Chakrabarty, who was earlier appointed as IBA
    chairman, took over as the deputy governor RBI, IBA said in a press release.
    Date: 19/06/09
   THE wholesale price index (WPI) - based inflation went sub-zero for the first time in 35
    years for the first week of June, but top policy makers and economists dismissed it as a
    short-term statistical phenomenon, with no real implications for either the country’s
    growth or its monetary policy.




   TATA Motors, which is driving in Jaguar and Land Rover brands to India on June 28, will
    set up exclusive showrooms in smaller towns as part of an India-specific marketing and
    distribution strategy for its premium cars.

    Date: 20/06/09
   Maverick investor C Sivasankaran has re-entered India’s booming telecom industry by
    acquiring a 51% stake in the Chennai-based telecom firm, S Tel, three-and a-half years
    after he pulled out of Aircel, reports Sachin Dave in Mumbai.
    Date: 21/06/09
    IN JUST over a month since the general election results on May 16, 15 promoter groups
    in India saw their combined wealth on the bourses increase Rs 80,000 Crore, in terms of
    market capitalisation. This is more than 1.5% of the country’s GDP.
   AJAY Banga, chief executive officer (CEO) of Citi Asia Pacific, has quit to join MasterCard
    as president and chief operating officer.




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   THE Bombay High Court asked Mukesh Ambani-owned Reliance Industries (RIL) to sell
    gas at $2.34 per mmBtu to Reliance Natural Resources (RNRL), which is owned by
    younger brother Anil Ambani. The order delivered a sharp blow to RIL valuations as the
    price asked by the court is 44.2% lower than what RIL has agreed to charge power and
    fertiliser firms under recently-signed agreements, based on a government-approved
    formula. RIL wanted the court to uphold the government-approved price, but the court
    sanctified the lower price that was stipulated in an agreement signed between Mukesh
    and Anil at the time of their separation in 2005-06. The court’s decision will cause
    financial losses to Reliance Industries, which will have to sell at least 35% of its natural
    gas production at a lower rate.
   THE government has put a break on import of certain mobile phones, dairy products and
    toys, mainly affecting China. “Import of ‘mobile handsets’ without International Mobile
    Equipment Identity (IMEI) number or with all zeroes IMEI is prohibited with immediate
    effect.
   INTEL Corp plans to phase out some of its brands, including the “Centrino” for
    computers, to focus on fewer top names as the chip maker expands into new markets
    such as mobile devices.
   TELECOM equipment maker Nortel Networks said on Friday that it will sell its advanced
    wireless technology business to Nokia Siemens Networks for US$650 million and that it
    was making progress in talks to sell its other businesses. Nortel, once the largest North
    American maker of telecommunications gear, collapsed into bankruptcy in January,
    blaming the economic crisis for derailing a turnaround effort that began in 2005.
    Date: 22/06/09
   TECH Mahindra, the new owner of Satyam Computer Services, has re-christened the
    scandal-hit firm ‘Mahindra Satyam’, giving it a new brand identity.




   The Indian passenger car market is likely to witness a major shift by 2015 with B
    segment premium cars registering higher annual sales growth compared to that of entry-
    level or A-segment cars, says global consultancy Booz & co.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   Internationally popular Indian handloom and handicrafts brand, Cottage, would be
    hitting the Chinese market soon. Central Cottage Industries Corporation Of India (CCIC),
    which showcases the best of hand-made products, plans to open an outlet, possibly in
    Beijing.
   PETER England Fashions & Retail (PEFR), the mid-priced apparel division of Aditya Birla
    Nuvo, is re-strategising its operations, as it hits the market with a value retail format.
    The company has, on one hand, broadened the scope of its flagship brand Peter England
    within the menswear segment and at the same time is delinking People — the family
    apparel format — from the mother brand to stand as a more youth-oriented, streetwear
    brand.
        PEFR’s menswear value format will revive brands, such as Elysee, Byford, SF Jeans
    and Spin Off, to find relevance with the downtrading customer. These brands had initially
    operated under Aditya Birla Nuvo’s branded-apparel company Madura Garments.
    Date: 23/06/09
   INDIA’S biggest oil explorer ONGC has struck oil and gas in three new blocks, one of
    these finds its most significant in decades and holding the promise of significantly
    narrowing the energy-starved country’s demandsupply gap in the natural gas sector.
        The gas find at Krishna Godavari (KG) basin off the Andhra coast could prove as rich
    as the Reliance Industries’ D-6 block, which, at its peak, is expected to double India’s
    current natural gas output. The other two discoveries included an oil find in Charada-3
    offshore block in Cambay basin and oil and gas find in Matar in Vadodara district, both in
    Gujarat.
   AIRCEL has begun negotiations to sell its 12,000 mobile telephone towers, a move seen
    helping the company raise money as it expands into new territories and readies for the
    auction of wireless airwaves to provide high-speed data services.
        Owned 74% by Malaysia’s Maxis Communications and 26% by Apollo Hospitals, Aircel
    is in talks with tower operator Tata-Quippo and appointed Nomura and Rothschild as
    advisors for the transaction.
   TAIWANESE handset manufacturer HTC will launch on Tuesday India’s first smart phone
    that will run on Google’s open-source Android operating system.
   HUL has hiked trade margins and has offered incremental margins of 4-5% to bigger
    distributors with attractive freebies such as motorcycles to ensure that targets are met.
    HUL is also making higher investments in advertising and promotions on smaller soap
    brands such as Rexona, Breeze or Hamam, cutting prices of detergent brands such as
    Wheel or Surf and restoring grammage or product quantity across its portfolio such as
    Wheel and Lux to take on growing competition from price-competitive national and
    regional brands.
   THE World Bank has projected an 8% growth for India in 2010, which will make it the
    fastest-growing economy for the first time; overtaking China’s expected 7.7% growth.
   PROVIDING relief to domestic auto component manufacturers, the government has
    recommended imposition of a special duty on import of crankshaft—a part of vehicle
    engine—of medium and heavy commercial vehicles from China. The directorate general
    of safeguards has proposed imposition of a provisional safeguard duty of 20% on the
    device to check the surge in its imports.
   TENNIS fans at Wimbledon will be able to keep up with the action using a smartphone
    application developed by IBM, which it said could transform the way spectators access
    information at sporting events. The application, which runs on Google’s Android
    operating system, superimposes real-time statistics and updates from social networking




                                               38
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    site Twitter, including comments from players, onto a video feed from a handset’s
    camera. “It’s about visualising data in a different way.
    Date: 24/06/09
   THE government is close to finalizing a new system of royalty payments for minerals
    which will double the revenue that states earn but increase the burden on companies
    that rely on raw materials such as iron ore.
       Mineral extractors will have to pay royalty based on the market value of the
    commodity instead of the fixed rates that are charged now, a proposal finalized by the
    mines ministry shows.




   UTILITY vehicles major, Mahindra & Mahindra has intensified focus on Africa to
    compensate the loss of volumes from the US market, which is facing recessionary
    trends.
   Adobe System’s chief executive officer Shantanu Narayen and beverage major PepsiCo’s
    Indra Nooyi have been ranked at the 16th and 17th places, respectively in the list of 25
    ‘top gun CEOs‘ for 2009 who kept their firms thriving amid the recessionary situation.
   Failing to make an impact in the sports utility vehicle (SUV) market, Maruti Suzuki is
    planning to re launch its high-end Grand Vitara SUV with a more powerful 2,400 cc
    engine.
    Date: 25/06/09
   THE Aditya Birla group, the country’s second largest cement maker, is looking at
    consolidating its cement business — currently being run by Grasim Industries and
    UltraTech Cement — following the exit of Larsen & Toubro (L&T) from UltraTech. L&T
    sold its 11.5% stake in UltraTech to a handful of financial investors a few weeks ago.
    Date: 26/06/09
   NANDAN Nilekani on Thursday ended a long innings with Infosys Technologies, the IT
    bellwether he helped found 28 years ago and nurtured to become one of corporate
    India’s proudest names, after being hand-picked by the prime minister to head an
    ambitious project to provide every citizen with a unique national ID by 2011.
   THE AZIM Premji-owned Zash Investments has upped the ante in its dispute with the
    board of troubled retail firm Subhiksha by sending a legal notice to all its current and
    former directors over their alleged failure to perform their duties.
   DUPONT, one of the world’s top five seed companies, has acquired Nandi Seeds and the
    cotton germplasm business of Nagarjuna Seeds in India, hoping to target the country’s
    $275-milliona-year cotton seed market and marking its maiden entry into the cotton




                                               39
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    seed business worldwide. India is the world’s second-largest producer and consumer of
    cotton.
    Date: 27/06/09
   TATA Motors posted its first annual loss in eight years and announced more job cuts and
    plant closures at Jaguar and Land Rover as the worst global recession in more than
    seven decades slashed demand for the marque brands purchased by the company last
    year.
       Tata, the maker of Indica and Nano cars, posted a consolidated loss of Rs 2,500 Crore
    for the year ended March, while sales slumped 37%.
   A forecast by Group M, the biggest media buyer in the country, says the BRIC nations —
    Brazil, Russia, India and China — will lead the global advertising recovery this year and
    the next, even as the global advertising market will contract by 5.5% in 2009, worse
    than its March prognosis of a 4.4% drop.
    Date: 28/06/09
   LIFE Insurance Corporation’s (LICs) year-old scheme to incentivize highly productive
    agents to recruit new agents has paid off. Over 20,000 agents of the corporations have
    enrolled over one lakh new salespersons. These new recruits have brought in nearly 6%
    of the corporation’s total premium.
   The government announced a statutory minimum price (SMP) of Rs 107.76 per quintal
    for sugarcane at a recovery rate of 9.5%, as recommended by the Prime Minister’s
    Economic Advisory Council (EAC).
    Date: 29/06/09
    IN A bid to accelerate growth in urban infrastructure, the government is considering to
    launch a new version of its infrastructural initiative Jawaharlal Nehru National Urban
    Renewal Mission (JNNURM) with an allocation amounting to Rs 1,00,000 Crore, twice the
    amount meant for JNNURM phase-I.
    Date: 30/06/09




    Date: 01/07/09




                                               40
                    Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   Mahindra Satyam on Tuesday named Rakesh Soni as the chief operating officer and AS
    Murty as the chief technology officer of the re-branded entity.




    Date: 02/09/09




   ROSHNI Nadar, the daughter of business tycoon Shiv Nadar, has been appointed CEO of
    the HCL group’s holding company, giving her potential power and control over the $5-
    billion group with marque customers such as Boeing and Airbus and an employee base of
    60,000.




                                             41
             Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




Date: 03/07/09




                                 42
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 04/07/09




   CONSUMER goods major Hindustan Unilever has done away with its earlier system of
    annual planned purchases of commodities in the wake of increasing volatility in input
    costs. The company has now moved to a continuous monthly-planning cycle enabling it
    to manage the business more dynamically.
    Date: 05/07/09
   Bajaj Hindusthan(BHL), the country’s largest and the world’s fifth-biggest sugar
    company, raised Rs 723 crore through a qualified institutional placement (QIP) of equity
    shares, just a day after infrastructure major GMR put off its $500 million QIP issue
    following poor investor response.
   Microsoft is integrating messages from prominent users of Twitter, the hot micro-
    blogging service, into the results generated by its new internet search engine Bing.




                                               43
                Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




Date: 06/07/09
The UPA government runs eight flagship schemes. These include JNNURM, NREGS,
Integrated Child Development Services (ICDS), NRHM, Sarva Shiksha Abhiyan (SSA),
Mid-day Meal scheme, Rajiv Gandhi Drinking Water Mission and Total Sanitation
Campaign.




Date: 07/07/09




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Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




                    45
Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




                    46
Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




                    47
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Date: 09/07/09
   AN investment arm of C Sivasankaran, the non-resident Indian businessman better
    known as Siva in Corporate India, has emerged as a significant shareholder in Aamby
    Valley — the company floated by the Sahara Group to develop Aamby Valley City — a
    famous up market township project in Maharashtra.
    Date: 10/07/09
   US-BASED investment management firm T Rowe Price is set to buy a 26% stake in UTI
    Asset Management Company (UTI AMC) for Rs 650-700 Crore.
   CITIGROUP announced its biggest management shake-up since the financial crisis
    began, replacing its chief financial officer and installing a new banking chief as it
    prepares to give the government a 34% equity stake.
    The changes, announced on Thursday, come as chief executive Vikram Pandit faces
    intense pressure to improve performance, rebuild the executive ranks in consumer
    banking, and shed unwanted assets. Citigroup has lost $36 billion over six quarters and
    received a series of federal government bailouts.
   GOOGLE’s bid to compete with Microsoft’s Windows operating system may help lower the
    cost of personal computers at a time when prices are already being pinched by
    inexpensive netbooks. Google said it will offer its just-announced Chrome operating
    system for free when it is launched in the second half of 2010, a move that could force
    Microsoft into a price war.
   COMBI products — a combination of life and health insurance schemes — will soon be
    available through a single insurance agent. Insurance Regulatory and Development
    Authority (IRDA) has proposed such a product, which could be sold by either a nonlife or
    a life agent.
    Date: 10/07/09
   BHARTI Airtel has signed deals with 23 global carriers of voice and data including
    Australia’s Telstra and UK-based Cable & Wireless, which will use the Indian firm’s
    submarine cable network to route their India traffic.
    Date: 11/07/09
   THE government plans to invest around Rs 1, 00,000 crore to build about 12,000
    kilometers of roads this year mainly through the toll-based model, with options to bring
    in foreign investors.
    Date: 12/07/09
   Annual inflation based on the wholesale price index (WPI) fell by 1.55% in the week
    ended June 27, even as prices continued to rise for the seventh straight week. The
    overall price index inched up 0.04% during the week with prices of primary articles
    firming up by 0.3%.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   JAPAN’S Nomura asset management company(AMC) has picked up a 35% strategic
    stake in LIC Mutual Fund for Rs 308 crore, valuing the seventh largest fund house at Rs
    800 crore. LIC will hold 45%, and LIC Housing Finance 20%. Nomura will hold the
    balance 35% stake in the AMC.
    Date: 13/07/09




   LESS than three months after putting in her papers at India’s largest private equity fund,
    ICICI Venture, its former CEO and managing director Renuka Ramnath is on a fund-
    raising spree for her new $450-500 million private equity fund. The ace investor has lost
    no time in forming an alternate assets management company called Multiples and
    already has financial commitments of $150-$200 million within sight from various limited
    partners (LPs).




                                               49
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   The mangoes, shipped by the Mumbai based Sachi Exports (India) with an assistance
    from Apeda reached the US markets on July 1 and on July 5 in the UK. The mangoes
    landed at a cost of $13 in the US and £4 in the UK, for a box of dozen, much lower than
    their prices by air freight.
    Date: 14/07/09
   MICROSOFT will release a free version of its dominant Office software that users can
    access over the Web, catching up with products that arch rival Google launched three
    years ago.
   A SHARP rise in trading income helped Axis Bank report a rise of 70% in net profit to Rs
    562 crore for the quarter ended June 30 against Rs 330 crore in the first quarter of
    2008-09. The results have beaten analysts’ expectations of a net profit of around Rs 500
    crore.




                                               50
                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   The financial downslide took its toll on the Indian aviation sector with the passenger
    traffic recording a negative growth rate of about 8% in the first half of this year.
   The Dhoots of Videocon are making a silent entry into education. Flagship Videocon
    Industries is setting up the Videocon School of Technology, Training & Education in
    Siliguri which will initially impart high level technical training and offer courses in IT and
    retail management. An IT finishing school will also be added in future.
   Six in 10 companies in a survey plan to skip the purchase of Microsoft’s Windows 7
    computer operating system, many of them to pinch pennies and others over concern
    about compatibility with their existing applications. Windows 7 will be released October
    22, but has already garnered good reviews, in contrast to its disappointing current
    version, Windows Vista.
    Date: 15/07/09
   PRIVATE non-life insurers are losing money hand over fist, as cut-throat competition and
    losses in motor third-party insurance wipe out all margins.Underwriting losses — the
    excess of claims over premium — doubled for private companies from Rs 416 crore in
    FY08 to Rs 815 crore in FY09. The dozen private insurers, which made a combined pre-
    tax profit of Rs 114 crore in FY08, stared at a collective loss of Rs 114 crore in FY09. This
    despite a 12% growth in premium income to Rs 12,479 crore.
   A sharp rise in investment income helped HDFC Bank report a net profit of Rs 606 crore
    for the quarter ended June 2009 — a 30.5% rise over the Rs 464.35 crore reported in
    the corresponding quarter last year. The results were marginally below analysts’
    expectations of a 33.4% rise.




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   Pepsico’s chief executive officer Indra Nooyi has been named as 2009 CEO of the Year by
    Global Supply Chain Leaders Group (GSCLG) for promoting socially responsible business
    practices. Ms Nooyi’s key contributions include promoting and supporting socially
    responsible business practices, including climate change. Further, Ms Nooyi was also
    instrumental in the company’s efforts to provide a wider portfolio of nutritious foods and
    beverages.
    Date: 16/07/09
    IT’S the biggest and the most high-profile deal in Indian entertainment. Anil Ambani-
    promoted Reliance Big Entertainment (RBE) has finally sealed the funding for its much-
    hyped 50:50 joint venture with Hollywood’s iconic director Steven Spielberg’s
    DreamWorks.
       DreamWorks Studios will get an initial funding of $825 million, which includes equity
    from Reliance ADAG to make films for a global audience. The company would make five
    to six films per year, and the first production would start this year for release in 2010. Of
    the $825 million, $325 million will be equity infused by Anil Ambani as his personal
    investment, $150 million will come from The Walt Disney Company as a distribution
    advance, and the rest will be funded by JPMorgan via debt.
   PJ Nayak, who quit Axis Bank in April, has joined US-based buyout firm Advent
    International as operating partner, reports Our Bureau in Mumbai. With this, Nayak
    becomes the second highprofile bank chief to move to private equity. Last year, former
    Citi India CEO Sanjay Nayar quit to join Kohlberg Kravis Roberts as its India head.





    INDIAN biopharmaceutical companies are likely to face more hurdles in the US. This is
    on the back of the US Senate Health, Education, Labour and Pensions Committee,




                                                 52
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    approving an amendment that will protect biotech developers from generic competition
    for 12 years.
    Date: 17/07/09
   ANIL Dhirubhai Ambani Group (ADAG) firm Reliance Money CEO Sudip Bandyopadhyay is
    slated to join a USbased private equity (PE) firm, which is planning an India outfit next
    year, in a senior capacity. He is set to tender his resignation in Reliance Money soon.
   CHINA’S economy grew 7.9% in the second quarter of 2009, the government said on
    Thursday, in a stunning turnaround for the Asian powerhouse that offered some hope for
    the rest of the world.
    Date: 18/07/09




   Tata Motors has paid a penalty for Jaguar Land Rover’s (JLR) inability to buy the agreed
    quantum of engine components and certain key raw materials from Ford Motor.
    According to a source, the penalty, paid last year, was around Rs 250-300 crore. A
    similar amount may have to be paid this year, too.
   Goa Carbon (GCL), the country’s second-largest calcinated petroleum coke (CPC) maker,
    has decided to set up a manufacturing unit in China jointly with annual capacity of 1
    million tonne, reports Smitha Venkateswaran. The project is expected to cost around Rs
    800 crore and is likely to be completed within three years.
   HINDUSTAN Unilever (HUL), India’s largest consumer products company, is losing its
    grip in the market for almost everything from soaps and shampoos to toothpastes and
    skin creams. The company has lost value market share across product categories by up
    to 6% y-o-y during April-May, according to numbers released by market research firm
    AC Nielsen.
   CITIGROUP, the banking giant scrambling to survive the financial crisis, reported a $4.3-
    billion second-quarter profit, thanks to gains on its Smith Barney deal, though its
    primary banking businesses continue to suffer from rising credit losses.




                                               53
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   BANKS will now have to pay accountholders a compensation of Rs 100 per day for every
    day of delay in reversing a failed ATM transaction. The Reserve Bank of India (RBI) has
    imposed stringent penalties on banks who fail to reverse a transaction where cash is not
    dispensed by the ATM but the customer’s account gets debited within 12 days.
    Date: 19/07/09




                                               54
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   THE Australian government is looking at enacting new laws which will address the recent
    spate of racial attacks against Indian students.
   PORSCHE’S controlling families will agree on Thursday to accept an offer by Volkswagen
    to buy its sports car business for roughly € 8 billion ($11.28 billion).
    Munish Baldev, the CEO of Ansal Plaza mall in Delhi has now joined Unitech Group as
    Head Retail to spearhead the retail operations of the Unitech group.
    Date: 20/07/09
   According to the foreign direct investment (FDI) regulations, a foreign investor has to
    bring in a minimum $5 million to participate in a joint venture (JV) with an Indian
    developer while the rest of the money can be brought in at a later point, may be in
    tranches. Interestingly, the March 2005 press note 2, which spells out FDI rules, says:
    “Original investment cannot be repatriated before a period of three years from
    completion of minimum capitalisation.”
    GOOGLE’S smartphone operating system (OS) Android is soon going to get a leg-up in
    India, with leading cellphone vendors such as HTC, Samsung, LG and Motorola firming




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    up plans to roll out a portfolio of such handsets. The vendors plan to target Android
    phones for urban youths and position them in the mid-to-high-end segment.
    Date: 21/07/09
   FORGET the Cannes you win, just count the cans you sell — that’s what the world’s
    largest beverages maker Coca-Cola seems to be telling its advertising agencies as it
    kicks in a result based payment system.
   HONG Kong-based Li & Fung Group, a global supply chain manager, on Monday picked
    up more than 26% stake in Future Group’s logistics arm Future Logistics Solutions for
    around $30 million.
    Date: 22/07/09
   THE steel ministry has initiated steps to sell small stakes in profit-making state-run firms
    Manganese Ore India (MOIL) and NMDC, which it estimates could fetch the government
    up to Rs 25,000 crore.
   INTEL and Advanced Micro Devices (AMD), traditional rivals in the global chipset space,
    are now set to take each other on in the $300-million Indian graphics card market.
   ING Vysya Bank appears to have finalised the appointment of Shailendra Bhandari as its
    CEO. Another candidate for the job was Singapore-based Ramakrishnan Subramanian,
    ING’s MD for retail banking in Asia, who is also on the ING Vysya’s board. The bank had
    considered a high-profile insider because it wanted to emphasise the importance of India
    in its scheme of things despite ING’s reversals in fortune. ING is also likely to invest in a
    Rs 500-crore QIP floated by its Indian arm. The QIP is aimed at increasing the bank’s
    capital adequacy ratio to above 14% from 11.6% .
    Date: 23/07/09




   The Reserve Bank of India (RBI) on Wednesday allowed cash withdrawals using swipe
    machines at retail shops. The facility will initially be available to 14.3-crore people
    holding debit cards issued in India. You can withdraw up to Rs 1,000 in a day. Also, you
    don’t need to purchase anything from the shop to avail of this facility. However, you may
    have to pay a fee of 2-3%.




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   RELIANCE Communications (RCom) has bagged a 10-year, Rs 10,000-crore passive
    infrastructure sharing deal from new operator Etisalat DB, earlier known as Swan
    Telecom. RCom will provide end-to-end tower and transmission infrastructure to Etisalat
    DB in the 15 circles, where it has spectrum to offer cellular services.
    RECKITT Benckiser’s germ-protection soap Dettol gained maximum value market share
    among soap brands in the last 12 months ended June, while Hindustan Unilever saw its
    top-ranked brands Lifebuoy and Lux lose footing, as per data by market researcher AC
    Nielsen.
       Dettol’s share increased from 6.6% in June ‘08 to 7.7% in June ‘09, placing it ahead
    of Wipro’s beauty soap Santoor as the country’s third-largest soap brand by value. But
    Santoor retained the No 3 ranking on a cumulative basis during the last 12 months, with
    Dettol following close behind. The Rs 7,500 crore soaps market posted 11.8% growth in
    the 12-month period. Soaps is estimated to the second largest FMCG category after
    detergents in the non-foods segment. Analysts attribute multiple reasons for Dettol’s
    growth — consistent positioning on the germ-protection platform, stable pricing and
    smaller packs.
    “Dettol soap has grown share to 7.7% .
   EVEN as the hospitality industry grapples with a difficult year, salaries of key personnel
    in one of the country’s largest hotel companies, Indian Hotels, has risen by 20 to
    30%.Indian Hotels MD Raymond Bickson saw his salary go up by 17% to Rs 5.3 crore,
    while that of company executive director finance Anil Goel went up by 10% to Rs 1.15
    crore, according to the company’s latest annual report. The salary of Abhijit Mukherji, ED
    hotel operations, rose by 31% to Rs 89 lakh.
   BELEAGUERED national carrier Air India, struggling to stay afloat after accumulating Rs
    7,200-crore loss, has announced special fares on select domestic sectors in an attempt
    to attract passengers during the lean season.Announcing the special fares, Air India said
    that the tickets can be bought up to three days before flying and would be valid till
    September 20. The all inclusive fares come in two categories. Under the first category, a
    Mumbai-Hyderabad flight would cost only Rs 2,079. Similarly, a Mumbai-Kochi travel
    would cost Rs 3,279 and Mumbai-Bangalore Rs 2,779.
   (Business Line News): Top ten golden brands that shone most brightly in each of the last
    50 Years as per the order of their brands value assessed by brand valuation consultancy
    Brand Finance are:
     Position                     Brand                               Brand Value
    1            Coca Cola (1971)                        32,858
    2            Microsoft (2005)                        30,882
    3            Google (2000)                           29,261
    4            Toyota (2003)                           21,995
    5            Orange (1994)                           16,799
    6            Tesco (1977)                            16,408
    7            Apple (2001)                            13,648
    8            Nike (1989)                             12,960
    9            Shell (1962)                            12,376
    10           McDonald’s (2008)                       10,417
    Date: 24/07/09
   BHARTI Airtel will dip into its cash reserves and short-term investments of Rs 6,300
    crore to finance a likely merger with South Africa’s MTN. The proposed $23-billion




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    transaction involves a complex structure where both entities would pay cash and equity
    for stakes in each other. The formula will result in Bharti Airtel getting a 49% stake in
    MTN and the South African telco a 36% “economic interest” in Bharti Airtel. The net cash
    outgo for Bharti Airtel is estimated at around $3.9 billion (Rs 19,000 crore). Over 60% of
    our new additions now come from rural India and this is a huge market that is yet to be
    tapped. Telecom regulator Trai reduced termination charges by 33% from April 1, giving
    telcos such as Bharti get only 20 paise per minute for every call that terminates on their
    network as against 30 paise earlier. Bharti had 105.2 million subscribers at the end of
    June, 47% more than a year ago, and its market share remained at a steady
    24%. Nearly all of its new customers in the quarter chose pre-paid services. Strategy for
    growth has been in building a ‘minutes factory’.
   THE six core infrastructure industries grew 6.5% in June on the back of robust
    performance by cement and steel, adding to the cheer as news trickled in that monsoon
    showers had locked 15% above normal last week. The infrastructure basket comprising
    coal, crude oil, refining, power, cement and finished steel has a 27% weightage in the
    index of industrial production (IIP), and the June surge hints at overall industrial growth
    picking up, according to economists.
   The scrappage policy in Europe that gives cash incentives to people buying fuel-efficient
    cars helped Maruti, which makes every second car sold in India, post a 135% increase in
    exports. The company sold 2,26,000 vehicles in the first quarter, its highest for the
    period, aided by strong demand for its new hatchbacks A-Star and Ritz. “We gained
    around Rs 125 crore due to softening prices of rubber, steel and other metals. While
    higher volumes also helped to scale higher turnover in the quarter,” said Ajay Seth, the
    company’s chief financial officer.
    THE government may now allow mobile number portability (MNP) by year-end, telecom
    secretary Siddhartha Behura said on Thursday in a telecom summit organised by the
    industry body Assocham. MNP was slated to come into effect in metros and large states
    on September 20, 2009, and the rest of the country by March 2010.
   STUNG by falling market share, Hindustan Unilever (HUL) is reworking the marketing
    strategy for two of its largest volume brands – Wheel and Lux. The Rs 1,000-crore Lux
    brand is facing tough competition from rival brands such as ITC’s Vivel, Godrej No 1 and
    Anchor’s Dyna. The value market share of Lux eroded from 17.6% to 15.5% in the 12-
    month period to June ’09, according to market researcher AC Nielsen. The Rs 2,000-
    crore Wheel brand, a core brand in HUL’s portfolio, targets consumers at the mass end
    of the detergent segment. Mumbai-based wholesalers said Wheel has taken a massive
    hit from regional brands such as Power, Ghadi and Sasa.




    Date: 25/07/09
   ITC has lined up an investment of Rs 8,000 crore to scale up its hotel business. The
    company is looking at both the organic and the inorganic routes to expand and is also




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    open to the idea of picking up a strategic stake in a hotel project. ITC will develop hotels
    in Amritsar, Bhubaneswar, Ahmedabad and Coimbatore.
   INDIA’S second-largest GSM operator Vodafone Essar has recorded a 33.6% growth in
    revenue during the first quarter ended June 30, 2009. This is at a time when the
    company, like most other mobile operators, has been affected by a reduction in
    termination charges in addition to the pressure of competitive pricing after the entry of
    new players.
   FACED with a spate of export rejections and slack demand, the production of scampi or
    the freshwater shrimp has registered a 53% fall to 12,806 tonnes in 2008-09 and that
    compared with the previous year. The estimated value of scampi fell by 52% and stood
    at Rs 205 crore.
    Date: 26/07/09




   INDIA’S national carrier, Air India, has demanded an urgent infusion of Rs 20,000 crore
    to tide over its worstever financial crisis, up five times from the amount it sought from
    the government in October 2008.
   REVERSE mortgage, a popular model allowing senior citizens to take money out of their
    homes, is failing to find an abode in India. Reverse mortgage is a plan through which
    senior citizens can avail loans from either banks or other financial institutions by
    mortgaging one’s home. If a senior owns a house and has a mortgage on the house, he
    might get a reverse mortgage to pay off the existing loan and then have some money
    left over to take care of his expenses for the rest of his life.
   EXTREME cost-cutting and treasury profits enabled the country’s largest private lender,
    ICICI Bank, beat analysts estimates and post a 21% rise in net profit in the first quarter
    of FY10 (Apr-Mar), the bank said on Saturday. Net profit stood at Rs 878 crore for the
    quarter-ended June 2009 against Rs 728 crore in the year-earlier quarter. The average
    net profit forecast by various banking analysts was around Rs 820 crore.
   Anxious carmakers are looking at different routes to bypass the dry spell. And this time,
    their strategy is not only limited to offering big discounts, report John Sarkar & Anand
    Rawani. Companies such as Maruti Suzuki India (MSI) and General Motors are
    penetrating deeper into rural territory to bolster sales while Hyundai Motor India is
    looking to tap into its associate companies for incremental volumes to tide over the




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    possibility of a bad monsoon. Contrary to popular belief, average rainfall and car sales
    have a relationship that go back a long way.




    Date: 27/07/09
   THE communications ministry will put in place a mechanism to monitor the user base of
    telecom operators within two months, to ensure they do not inflate subscriber numbers
    to grab additional spectrum.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 27/07/09
   EVEN as the deadline for Subhiksha’s corporate debt restructuring (CDR) process, which
    the company is working on with 12 creditor banks and three major shareholders, draws
    close (July 31), it seems banks are looking at the option of approaching the CDR forum
    for an extension of deadline, two bankers involved in the process told ET.
    Date: 28/07/09
   THE government has lowered interest rates on loans for affordable housing, extended a
    tax holiday given to industrial parks, and lifted the tax burden off road repair costs,
    adding to the four existing stimulus packages in its effort to propel economic growth to
    8-9% by the end of 2010.
   FRANCE’S biggest drugmaker Sanofi-Avenits on Monday agreed to buy Shantha
    Biotechnics in a deal whose generous valuation is seen tempting other Indian vaccine
    makers to consider a sell-out if similar offers come their way. The deal between Sanofi
    and its French owners Meriuex Alliance values the unlisted Indian company at Rs 3,740
    crore, or about eight times its projected sales of Rs 440 crore for this fiscal.
   MUKESH Ambani’s Reliance Group has started selling food items such as flour, pulses
    and edible oil in the open market in Mumbai through a new company, testing the waters
    before it takes a plunge into the consumer products business.
       Within the past three weeks the new company, Reliance Home Products, has
    introduced wheat flour, cooking oil and pulses under the brand name Healthy Life and
    a mango drink labelled Good Life, a company official said, adding that soaps, shampoo,
    tea, coffee, noodles and ketchup will follow soon. The fast-moving consumer goods
    (FMCG) market in India is estimated to be worth about Rs 1 lakh crore and is dominated
    by large players such as Unilever, P&G, ITC and Dabur.
    Reliance Retail and Reliance Home Products are units of Reliance Industries, India's
    biggest company in the private sector.
   CAUTIOUS hoteliers are planning to raise room tariffs by 5-10% before the peak season
    begins in September, as they see corporate travel perking up on the back of encouraging
    financial results.
    THE MINISTER FOR ROAD TRANSPORT Kamal Nath has laid out an ambitious agenda for
    the National Highways Development Programme (NHDP). The target is to secure an
    investment of Rs 1,00,000 crore during the next three quarters. As much as Rs 70,000
    crore is expected from the private sector. However, the experience with PPPs so far
    suggests that these objectives are unrealistic. They cannot be realised without drastic
    improvements in the current policy. To date, total private investment in national




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                    Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    highways projects is Rs 34965.06 crore. It accounts for only 9.1 per cent of total
    investment made under various phases of NHDP, and is concentrated in the projects
    located in richer states.




    Date: 29/07/09
   HINDUSTAN Unilever took a beating on the stock market on Tuesday, after the country’s
    largest consumer products company reported a fall in net profit for the quarter ended
    June 2009, due to higher advertising expenditure and a mark-to-market foreign
    exchange loss of Rs 31.8 crore on open forward contracts. The company’s stock
    plummeted 7.3% to close the day at Rs 277 on BSE as it posted a 2.7% decline in
    quarterly net profit to Rs 543 crore, missing market expectations. Net profit before
    exceptional items remained flat at Rs 538 crore.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 30/07/09
    ABG Shipyard has upped the ante in its high-stakes battle with rival Bharati Shipyard
    for control of Great Offshore by dramatically increasing its offer price to Rs 450, 11%
    more than Bharati’s offer for the company.




    HERO Honda Motors, the world’s largest two-wheeler maker by sales, posted an 83%
    jump in net profit for the June quarter on the back of lower input costs and new high-
    priced models that rolled out from its factory in Uttarakhand, the hill state which enjoys
    tax benefits. Sales went up 25% y-o-y, and the company was upbeat that the
    approaching festival season will help it better the 11.18 lakhs units sold in the past three
    months despite threats of a bleak southwest monsoon dampening demand in rural areas,
    which account for 40% of its total sales.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   Antitrust body CCI, which will eventually replace MRTPC, is an independent body
    responsible for investigating mergers, market shares and conditions and regulation of
    firms.
    Date: 31/07/09
   MAHINDRA & Mahindra, the country’s largest utility vehicles and tractor maker, on
    Thursday announced a better-thanexpected 152% growth in net profit in the June
    quarter, boosted by lower raw material costs, higher sales and the merger of Punjab
    Tractors with itself. The company’s net profit rose to Rs 401 crore in the period under
    review from Rs 159 crore in a year-ago period while net sales rose by 29% to Rs 4229
    crore. Operating margin grew to 14.35% from 7.75% in the previous quarter.
   An ETIG study of 850 listed companies saw their net profits rising 13% over the year-
    ago period after three dismal quarters, helped by falling raw material costs, lower cost of
    borrowing and modest growth in wage bills. The study did not include banks and public
    sector oil companies as their fortunes are directly linked to government policies.




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Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




                    65
                    Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Date: 01/08/09
   PRIVATE airlines on Friday ganged up and decided to suspend operations on August 18 if
    the government does not help them cut costs, prompting an offer of talks but no
    assurances from civil aviation minister Praful Patel.
   LEGISLATION that would add $2 billion to a cash-for-clunkers program aimed at spurring
    US automobile sales could move quickly through the US Congress, Michigan Senator
    Debbie Stabenow said on Friday.




    Date: 02/08/09
   The country’s largest car maker, Maruti Suzuki India (MSI), reported a 33% jump in
    sales to 78,074 cars. Exports continued to perform well on strong demand from Europe.
    Maruti’s overseas sales jumped 87% to 10,546 cars in July. The major growth for the
    company came from new models such as A-Star and Ritz, along with Swift and WagonR
    in the premium hatchback segment. The sedan segment, comprising of SX4 and Dzire,




                                              66
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    increased 51% to 9,101 cars in July, though sales of the company’s oldest model M800
    declined 44% to 2,796 cars in the same period.
   INDIAN steel companies may take the rural roads to increase their domestic demands in
    the backdrop of the government’s massive outlay in the rural sector announced during
    the Budget.
       As construction and infrastructure sectors are likely to be the main drivers of growth
    for the industry along with auto and FMCG, the liberal Budget provisions for rural
    infrastructure have led steel majors to increase their market share in rural and semi-
    urban pockets.
    Date: 03/08/09
   BHARAT Sanchar Nigam (BSNL) has been making operating losses for the past two
    years, only managing to stay in the black because of interest income from its
    accumulated cash reserves. Its misfortune’s been almost entirely attributed by company
    insiders and experts to rampant political interference.
   BANK failures in the US are increasing by the day, with an average of 10 entities going
    belly up every month, taking the toll to 69 so far this year. With five more banks
    collapsing in July 31, a staggering 24 entities were shut down last month, the highest for
    any month in 2009. Moreover, the number of failures till the end of last month at 69 is
    more than double that of last year’s 25.
   IN A first, the government is considering a revamp of the legal system by giving more
    powers and responsibilities to the Securities Appellate Tribunal (SAT), a quasi-judicial
    body, which currently only settles disputes in capital market transactions. The thinking
    within the government is that SAT’s role needs to be widened and should deal with
    appeals against insurance and pension regulators, as well, any other regulatory authority
    in the financial markets.
    Date: 04/08/09
   INDIA’S largest exporter of cars is worried about competition from its Korean parent.
    Incredible as it may sound, the prospect of a free trade agreement (FTA) between the
    European Union (EU) and South Korea is sending shudders through the Chennai
    headquarters of Hyundai Motor India (HMI).The proposed trade pact will allow Korean
    carmakers such as Hyundai, Kia and GMDAT to ship their cars to Europe without paying
    the 10% duty levied on imports, threatening to erode the competitive advantage
    enjoyed by Indian carmakers in their largest export market. Hyundai’s i10 and i20 and
    Maruti Suzuki’s A-Star are in huge demand in EU, after the UK, Germany, Spain, Austria,
    France and Italy started offering cash incentives of € 1000-3000 to buy fuel-efficient
    cars.
   INDIA on Monday registered its first swine flu death with a 14-year-old girl in Pune
    succumbing to the disease.
    Date: 05/08/09
   BHARTI Airtel plans to bid for Luxembourg-based Millicom’s Sri Lankan mobile network,
    in a move that could make it the second largest mobile phone operator in the island
    nation, two executives familiar with the development said. India’s largest telecom
    operator will have to compete with an array of suitors such as Malaysia’s Axiata Group,
    Russia’s Vimpelcom and UAE’s Etisalat, which are reportedly interested Millicom’s Asian
    assets, including Tigo network in Sri Lanka. A successful bid will help Bharti, which has a
    subscriber base of one million in Lanka, to treble its user base.
   PARLIAMENT on Tuesday gave its stamp of approval to a historic legislation providing for
    free and compulsory education for all children between six and 14. The bill will become




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    law as soon as President Pratibha Patil gives her assent. The Right of Children to Free
    and Compulsory Education Bill, 2009, cleared by the Rajya Sabha on July 20, was
    passed by the Lok Sabha by a voice vote on Tuesday. Mr Sibal, who piloted the measure,
    gave a clarion call to all states to co-operate with the central government in
    implementing the measure.
    Date: 06/08/09
   ESSAR Group plans to sell a stake in Essar Telecom Infrastructure, the country’s second-
    largest independent mobile tower company, after three unsuccessful attempts to merge
    the company with larger rivals. The tower firm has over 4,000 units. At a conservative
    valuation of Rs 50 lakh per tower, the company is worth over Rs 2,000 crore. Earlier
    attempts to sell the company to rival standalone tower firmsAmerican Towers, Tata
    Quippo and GTL failed due to valuation issues.
   DLF, the country’s largest real estate company, is looking to exit its life insurance joint
    venture with US-based Prudential Financial as it continues to sell non-core businesses
    that demand fund infusion. The company, still to recover from last year’s realty crash, is
    now scouting for a potential buyer for its 74% stake in DLF Pramerica Life Insurance in
    what could be the first deal in India’s fledgling insurance industry.
   AIRCEL Cellular, the Indian arm of Malaysian telecom giant Maxis Communications, has
    raised a debt of $3 billion (Rs 14,300 Crore) for expanding its operations. Aircel’s parent
    Maxis is also planning to relist itself in Malaysia later this year. Aircel’s loan, a
    combination of rupee and dollar debt, is the largest that has been raised by any Indian
    mobile services provider in the past one year. State Bank of India, the largest lender in
    the country, will account for Rs 10,000 Crore, while the rest, which is the dollar
    component, will come from Standard Chartered.
   SHAILENDRA Bhandari, a former Citibanker and who previously headed Centurion Bank
    of Punjab, has been appointed the new MD and CEO of Bangaloreheadquartered ING
    Vysya Bank for three years. He succeeds Vaughn Richtor, till recently the MD & CEO of
    the bank.
    Date: 07/08/09
   Indian mobile operators added over 12 million new users in June, taking the total
    number of users to 427.28 million, according to data released by regulator Trai on
    Thursday. Total subscribers, including fixed-line, increased to 464.82 million. The fixed-
    line subscriber base dipped slightly to 37.54 million in June.
   As per the latest official data, annual inflation based on the wholesale price index (WPI)
    stood at -1.58% for the week ended July 25, against 12.53% a year ago. The negative
    inflation is, however, no consolation for consumers as inflation in food articles is almost
    in double digits—9.7% for the week ended July 25. The sharp run-up in prices of food
    articles, which were up 0.8% in the week under consideration, does not adequately
    reflect in the WPI due to its low weight in the index.
    Date: 08/08/09
   AIR INDIA will eventually bring 75% of its operations under the low-cost umbrella and
    has put in place a three-year plan to cut annual losses, as it looks to ease the mounting
    debt burden that currently stands at Rs 16,000 Crore. Presenting the turnaround
    strategy which envisages a cost reduction of about Rs 4,000 Crore annually, Air India
    chairman & managing director Arvind Jadhav said on Friday the airline was negotiating
    with banks and financial institutions to swap high-cost debts of about Rs 11,000 Crore.
    ITS not just private equity firm Warburg Pincus that’s looking to log out of outsourcing
    firm WNS Global Services. It is now learnt that another shareholder Nalanda Capital, a




                                                68
                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Singapore-based hedge fund, is also eyeing the exit route. A person familiar with the
    development told ET NOW that Nalanda Capital has put its 12.3% in WNS on the block.
    The person requested anonymity as he is not authorised to talk to the media.
   BHARTI Airtel, which had recently announced that it had extended the merger talks with
    South Africa’s MTN Group, has sought loans worth $2 billion from State Bank of India
    (SBI), minister of state for finance Namo Narain Meena, told Parliament on Friday.
   INDIA and South Korea signed a comprehensive economic partnership agreement on
    Friday which will make Korean consumer products and auto parts cheaper in India.
        The deal excludes fully built-up vehicles and provides for easier movement of
    contractual service providers and professionals between the two countries and treatment
    of investments from one another’s country on a par with domestic investments. This is
    the second CEPA signed by India, the other being with Singapore. This is also India’s
    first bilateral trade agreement with an OECD country. As per the agreement, South
    Korea will eliminate duties on 93% of its industrial and agricultural products and India
    will do the same on 85% of its goods. India has excluded sensitive items such as farm
    products, textile items and built-up automobiles from tariff elimination commitments.
    Duties will be phased out on most products in the next eight years.




    Date: 09/08/09
   A LIKELY change of regime in Japan may complicate India’s equations with the Nuclear
    Suppliers’ Group as well as delay Tokyo’s development assistance to infrastructure
    projects in the country, according to a note prepared by the ministry of external affairs.
       Japan will vote on August 30 to elect a new federal government, and opinion polls so
    far predict a victory for the centrist Democratic Party of Japan (DPJ), which would put an
    end to the five-decade long rule of the Liberal Democratic Party (LDP).
   THERE is something about fast cars that keep people on their toes. And SkodaAuto
    seems to have quickly caught on to it. After the successful launch of its new Laura and
    Superb in the “C plus” and “D” segments, respectively (both premium segments), the
    Czech carmaker is readying another exciting launch, the new RS (Rally Sport) — the
    sports icon of all Skoda cars.
   AIR India will bring 75% of its operations under the low-cost umbrella under a three-
    year plan to cut annual losses and to ease mounting debt burden of Rs 16,000 crore. Air
    India CMD Arvind Jadhav presented the turnaround strategy on Friday to cut costs of
    about Rs 4,000 crore annually. The airline is negotiating with banks and financial
    institutions to swap high-cost debts of about Rs 11,000 crore. AI has also approached
    the government seeking equity infusion and a soft loan. To improve revenues, the airline
    will launch low-cost subsidiary Air India Express in the domestic market with an initial
    fleet of 10 air-craft by September.




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   The two founding partners of Baring Private Equity Partners (BPEP) - Rahul Bhasin and
    Subbu Subramaniam have decided to part ways due to differences over several issues.
    The entire settlement process is subject to arbitration as the partners could not reach an
    amicable settlement. Both the partners who were graduates of the Indian Institute of
    Management, Ahmedabad, came together to create the fund in 1998. BPEP was founded
    in 1984 with Dutch major ING Group as the major investor and has assets under
    management of $1 billion in India. The fund has till date invested in Europe, Asia and
    Latin America.
   A NEW Companies Bill was introduced in the Lok Sabha with stringent clauses to deal
    with corporate frauds against the backdrop of the Satyam Computer Services scam,
    besides calling for special courts to prosecute offenders and addressing the needs of
    India Inc in today's globalised environment. The bill, introduced by Corporate Affairs
    Minister Salman Khurshid, is centred on stakeholder protection with the provision for
    class action suits that allow a group of people with similar grievance to file a joint
    petition. The bill proposes to allow formation of one-person company and help India Inc
    compete more effectively globally. At the moment, two people are required to form a
    private limited company and seven for constituting a public limited company. The upper
    limit on the number of persons as promoters in professional firms like partnerships,
    banking companies and audit firms has also been raised to 100. The other major
    proposals of the bill include the fact that insider trading becomes a criminal offense.
    Consolidated financial statements of subsidiaries to be made mandatory. It contains a
    clause that removes claims over unclaimed dividend after seven years.
   AMID increasing concerns over credit rating of the US sovereign treasury bonds
    especially in the backdrop of ballooning fiscal deficit, India is better off in comparison to
    its BRIC peers as it has the lowest exposure to the treasury bonds of the US. India’s
    exposure to the US treasury bonds as a percentage of the total forex reserve is around
    14% whereas China, also a BRIC nation, invested over 38% of its forex reserves, an
    analysis jointly done by SundayET and CARE Ratings found out.
   THE Centre has appointed Amitabh Kant, known for pioneering the 'Incredible India'
    campaign, as chief executive of the corporation that would manage the industrialcum-
    infrastructure project - Delhi Mumbai Industrial Corridor (DMIC).
    Date: 10/08/09
   CUT-THROAT competition in India’s organised retail industry seems to have given way to
    harmony, with top players such as the Future Group, Aditya Birla Retail, Spencer’s and
    Reliance Retail coming together to cut operational costs and improve margins.
    Date: 11/08/09
   INDIA is facing a significant trade imbalance with Thailand, after both the countries
    entered into an agreement in September 2004. While India’s exports to Thailand have
    grown from $901.4 million in 2004-05 to $1.8 billion in 2007-08, Thailand’s exports to
    India have jumped from $865 million to $2.3 billion during the same period.
    Date: 12/08/09
   IN ITS most ambitious bid ever to house 6-crore slum dwellers and realise the vision of a
    slum-free India, the government is rolling out a massive plan to build 50-lakh dwelling
    units in five years across 400 towns and cities. The programme could free up thousands
    of acres of valuable government land across the country and generate crores worth of
    business for real estate developers.
        The ministry of housing and urban poverty alleviation has sought an allocation of Rs
    225,000 crore, over one-fifth of the total budget expenditure for the current fiscal, for




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    the entire scheme, according to a senior ministry official involved with the preparation of
    the proposal that has been sent to the Planning Commission.




   THE Indian Premier League(IPL) is all set to expand its footprint in the country from the
    next season onwards. The tournament will be played in twelve venues across the
    country, four more from the current eight, in IPL 3. And that’s not it — two new teams
    will be added to the tournament in IPL 4, Lalit Modi, chairman and commissioner of the
    IPL announced on Tuesday.
       The four new venues, Nagpur, Vishakhapatnam, Ahmedabad and Dharamshala,
    have been added as home venues for Mumbai Indians, Deccan Chargers, Rajasthan
    Royals and Kings XI Punjab, respectively.
   HANDSET giant Nokia may well bite into Apple’s market share in India. The Finnish
    mobile maker will launch its Music Store later this month, allowing Nokia users online
    access to a huge catalogue of music — films, devotional and international among others.
    The move is expected to boost device sales for Nokia, which already has over 70% share
    of the Indian market.
    Date: 14/08/09
   IN A development that surprised analysts, economists, central banks and their own
    governments, the economies of Germany and France on Thursday moved out of




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    recession, with both reporting that their GDP grew by 0.3% quarter-on quarter in April to
    June, instead of a drop of about -2%.




    Date: 15/08/09
   THE Union government, which recently announced a grand plan to make India slum-free
    in five years, is considering a Rs 15,000-crore mortgage fund to encourage lenders to
    give home loans to the urban poor, usually the last in banks’ preferred list of borrowers.
    Date: 16/08/09
   INDIA’S largest auto maker, TATA Motors plans to spend around Rs 8,000 crore over the
    next 3-4 years on capital expenditure and getting new products in the car and truck and
    bus segments. The proposed plan will cover launch of Indigo sedan by this year-end and
    launch of Indicruz crossover—a vehicle blended with features of car and sports utility
    vehicle (SUV)— in 2010 besides introduction of next-generation versions of its Safari
    SUV. Part of the proposed Rs 8,000-crore investment will also go into bringing future
    models of trucks into the country, which were launched during the World Truck
    Programme earlier this year. Besides, the company will focus on its ageing models that
    are running in markets for more than a decade and develop product for overseas
    markets too. However, no new investment has been planned for Jaguar-Land Rover, the
    British luxury car brands that Tata acquired from Ford Motors for $2.3 billion last year.
    Date: 17/08/09




    Date: 18/08/09
   PANTALOON Retail, the listed retail entity of Kishore Biyani-led Future Group, is floating
    a foreign direct investment (FDI)-compliant special purpose vehicle (SPV) to offload its
    non-core assets to overseas investors. Since FDI regulations do not permit foreign
    investment in Pantaloon Retail, private investors will take an equity interest in the SPV




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    which, in turn, will buy the non-core assets owned by as many as 18 subsidiaries of the
    listed entity, said a person familiar with the development. The sale of these assets is
    expected to fetch close to Rs 500 crore.
    Date: 19/08/09
    THE contentious issue of foreign ownership in local banks is set to be resolved. The
    Reserve Bank of India (RBI) has suggested to the finance ministry that
    foreign investment in local banks in the form of American Depository Receipts (ADRs),
    Global Depository Receipts (GDRs), foreign currency convertible bonds (FCCBs) and any
    type of convertible warrants be excluded while calculating the foreign direct investment
    (FDI) limit for Indian banks.
   DLF is set to bag a 350.71-acre land parcel in Gurgaon for Rs 1,703 crore, after it
    emerged the sole bidder for the land put up for auction by the Haryana government.
    India’s largest real estate developer offered to pay Rs 12,000 per sqft, a tad higher than
    the reserve price of Rs 11,978 per sqft, for the land, said a member of the government
    panel that oversaw the tender process. An announcement is likely to be made in the
    next few days, he said, requesting anonymity.
   IN A major win for Indian pharmaceutical companies, the Delhi High Court (HC) on
    Tuesday dismissed German drug major Bayer Healthcare’s attempt to stop Drug
    Controller General of India (DCGI) from giving marketing approval to Indian company
    Cipla for the generic version of Bayer’s patented kidney cancer drug, Nexavar. Besides,
    the HC asked the German firm to pay Rs 6.75 lakh to the government and Cipla as legal
    cost.
   THE Indian arm of Norwegian telecom group Telenor has raised Rs 5,000 crore as a
    bridge loan from State Bank of India to fund the roll-out of its operations in the world’s
    fastest-growing mobile market. The interim loan for Unitech Wireless is the first since
    Telenor bought a 49% stake in it, a company executive said, adding that plans are
    underway to secure additional funding of several thousand crore.
    Date: 20/08/09




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   FMCG companies have more screen presence than carmakers and telecom companies on
    all Doordarshan (DD) channels, though the latter two are pushing hard for rural sales.
        The top 10 advertisers on all the 50 DD channels are FMCG companies. The data, put
    together by market researcher TAM Media Research for ET, shows that Hindustan
    Unilever (HUL), the country’s largest consumer products company and biggest
    advertiser, leads the pack as the top private advertiser on DD with a 9% share. HUL is
    followed by ITC with a 2% share. Other top advertisers include Wipro, Emami, Dabur,
    Colgate-Palmolive, Heinz, Perfetti Van Melle, Godrej Consumer Products and Reckitt
    Benckiser.
    Date: 21/08/09




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    Date: 22/08/09
   ICICI Bank is looking at listing four of its subsidiaries as and when regulations permit
    and the markets are conducive. The subsidiaries that the bank plans to list are its two
    insurance companies ICICI Prudential Life Insurance and ICICI Lombard General
    Insurance, broking vertical ICICI Securities and housing finance venture ICICI Home
    Finance.
   FACING a peculiar situation of exhausting 10-digit mobile numbers, C-DOT, a research
    and development organisation of the telecom sector, is studying if the unique identity
    number (UID) could be convertedinto mobile number. The identity number could be the
    one to be issued by the government for which an UID authority has been set up, or any
    other like driving licence number.
    Date: 25/08/09
   LG ELECTRONICS India (LGEIL) is scouting for a suitable location in the South, possibly
    Hyderabad or Chennai, to house a new facility. To be operational in the first half of
    2010, the new plant will focus on home appliances, mainly washing machines,
    refrigerators and air conditioners. The investment could be around Rs 500 crore.
   KESHAB Panda, senior vice-president of Mahindra Satyam, has put in his papers,
    marking another high-profile exit from the tainted IT firm, the erstwhile Satyam
    Computer Services.
    Date: 26/08/09
   FINANCE minister Pranab Mukherjee said the process of economic reforms will continue
    “in right earnest” to get the economy back to 9% growth.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    He said the economy had “weathered the storm” created by the global downturn and
    exuded confidence that it would grow at around 6%-plus in the current financial year.
   ABOUT 40 companies that account for almost one-third of the organised biscuit market
    in the country will increase prices by 10% across the board from next month to cope
    with soaring prices of key ingredients like sugar, milk and milk powder.
        The price hike, the steepest in the industry in two years, will come into effect on
    September 1, according to the Indian Biscuit Manufacturers Association (IBMA), which
    represents these second-string biscuit makers whose list include Priyagold, Anmol,
    Cremica, Bonn and Crown.
    Date: 27/08/09
   MAX India chairman Analjit Singh has joined hands with PRS Oberoi Group flagship EIH
    to set up a 100-room five-star hotel in Dehradun under the Trident brand, triggering talk
    that the billionaire businessman had larger plans for the hospitality sector.
   BHARTI Airtel will have to pay at least $413 million (Rs 2,000 crore) more than originally
    presumed to shareholders of MTN if a merger deal fructifies because of the South African
    currency’s appreciation against the dollar. Hopes that the largest mobile phone firms in
    India and Africa will merge and the anticipated inflow of rand has boosted the value of
    the South African currency against the dollar by over 6% in recent weeks.When the two
    companies announced merger talks in May, the total dollar outgo at that time was
    estimated at around $6.94 billion, with Bharti paying 86 rand for every MTN share. But
    with the South African currency strengthening, this amount has now risen to $7.38
    billion.




   CONSUMER goods major Hindustan Unilever (HUL), the country’s biggest advertiser, is
    understood to have slashed advertising agency business margins from 10% to around
    5%.
       The move is part of a global ‘performancebased’ payment package, which will be
    topped up by a bonus, if certain performance targets are achieved, officials close to the
    development said.
       Unlike the earlier system, where upfront commissions were guaranteed, ad agencies
    will have to make do with lower margins if the project does not meet targets. Unilever
    too, slashed upfront margins with bonuses making up the difference in a move to switch
    to a ‘performance-based’ payment scheme.
    Date: 28/08/09




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   THE world’s oldest and the most popular motorcycle brand Harley Davidson will hit the
    Indian roads finally after dilly-dallying for over two years. The iconic American brand will
    be available from early 2010 and although it is yet to announce price tags, the vehicles
    are expected to be priced in the band of Rs 7-15 lakh.
    Date: 29/08/09
    LARSEN & Toubro (L&T) plans to exit from its investment in Mahindra Satyam, formerly
    Satyam Computer Services, once the lock-in period expires in October, and is aiming to
    complete the transaction by the end of the current fiscal, chairman AM Naik said on
    Friday.The country’s largest engineering company expects to make a profit of up to Rs
    250 crore from its 12% stake in Mahindra Satyam.
    Date: 30/08/09
   HABIL Khorakiwala-promoted Wockhardt Hospitals has agreed to sell 10 of its hospitals
    to Fortis Healthcare for Rs 909 crore, in the biggest healthcare deal in the country. The
    acquisition narrows the gap between Fortis and the largest Indian healthcare player, the
    Apollo group, and also reduces the debt burden for Wockhardt Hospitals. The deal
    includes eight functioning hospitals of Wockhardt and Rs 190 crore towards capital for
    two under construction. The acquisition will enable Wockhardt Hospitals to clear Rs 500
    crore it had borrowed earlier to expand its business. “We will use the funds to clear our
    debt and the remaining will be used for the 10 hospitals that we still have under our
    control,” said Wockhardt chairman Habil Khorakiwala.
   Falling demand for steel products in the US and the UK because of the recession left Tata
    Steel with consolidated loss of Rs 2,209 crore in the quarter ended June 30. The near
    40% fall in steel prices and high raw material costs in the first quarter hit hard the
    world’s sixth-largest steelmaker by capacity. The company earns more than half its
    revenues from overseas units. It posted a consolidated net profit of Rs 3,901 crore in the
    same quarter last year. “The results reflect the impact of the global economic downturn,
    particularly in the developed markets,” said MD B Muthuraman.
   The index of six core industries rose 1.8% in July, lower than the 4% growth recorded in
    the previous month, suggesting that industrial production in July may also come in below
    the 7.8% growth recorded in June, as the core index has a nearly 27% weight in the




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Index for Industrial Production (IIP).The decline was largely on account of lower crude
    oil production and a
    sharp 14.4% drop in refinery output, a statement by the commerce ministry on
    Wednesday said. A strong show by the cement and coal segment helped to lift the
    gloom. “Despite a high base, both cement and coal posted strong growth, up at 10.6%
    and 9.7%, respectively. This could be attributed to the weak monsoon, which resulted in
    a delay in maintenance shutdowns,” said Citi economist Rohini Malkani in a research
    note.
   Pressure from within the higher judiciary on Wednesday forced the Supreme Court
    collegium to concede the demand for making assets of judges public.
    Date: 31/08/09
   PEPSICO will hold its annual global meet for the first time in India, marking only the
    second occasion that the $43-billion beverages and snacks company will take the event
    outside the US. The Indian arm of Coca-Cola’s biggest challenger recorded an all-time-
    high volume growth of 33-35% last year at a time when its parent was grappling with
    falling sales. The New York-based company’s global board includes two executive
    directors—chairman & CEO Indra Nooyi and vice-chairman and Pepsi-Co International
    CEO Michael D White—and 11 independent directors.
   THE spike in sugar prices seems to be resulting in a return to the licence-permit raj. In a
    throwback to an earlier era of raids and controls, several state governments are
    understood to have issued ‘notices’ to food and beverage companies such as Cadbury
    India, Coke, Nestle, Pepsi, Godrej Hershey’s, Hindustan Unilever (HUL) and Coca-Cola
    among others. The move has shocked the FMCG industry, with companies asking the
    Confederation of Indian Industry (CII) to represent their case officially to the
    government.
   INDIA’S largest carmaker Maruti Suzuki India is looking to introduce a green car in the
    Indian market. Speaking to ET, Maruti Suzuki MD and CEO Shinzo Nakanishi said: “We
    stand a chance to have the eco-car in the Indian market.”
   Kimi Raikkonen won the Belgian Grand Prix for Ferrari’s first success of the Formula One
    season on Sunday after championship leader Jenson Button crashed on the opening lap.
    Italian Giancarlo Fisichella finished second, just 0.9 of second behind the Finn, to give his
    Force India team their first points in 30 starts after securing their first pole position the
    day before. Germany’s Sebastian Vettel was third for championship contenders Red
    Bull.
    Date: 01/09/09
   INDIA’S economic growth accelerated for the first time in the past six quarters and
    clocked a rate of 6.1% for the first three months of the current financial year, a release
    by the Central Statistical Organisation on Monday showed.
   INFRASTRUCTURE development & finance company IL&FS is all set to take over the
    management control of crisis-hit Maytas Infra and will launch an open offer for which it
    has already sent an application to market regulator Sebi. The open offer-trigger price will
    be based on the two-week average price of Maytas Infra at around Rs 94, which is
    higher than the six-month average.




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                    Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   VIJAY Mallya-owned Kingfisher Airlines will raise around Rs 1,000 crore by Q4FY10
    through a combination of GDR and rights issue, most of which will be employed to retire
    a part of the airline’s debt.
    Date: 02/09/09
   INFRASTRUCTURE Leasing & Finance (IL&FS) has picked up a “significant minority stake”
    in the Reliance Industries (RIL)-promoted special economic zone (SEZ) project in
    Haryana that has struggled to take off despite having started four years ago.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   Users with prepaid plans on its CDMA service will have to pay only one rupee for every
    local call and Rs 3 for STD calls regardless of the duration of the conversation. About
    92% of Tata Tele’s 38 million users of its CDMA service are on prepaid plans. Existing
    prepaid users can move to the new scheme by buying a one-time recharge voucher of Rs
    96. Users who opt for the new tariff plan will be charged a flat rental of Re 1 per
    day. New level of price competition.
   TATA Tea is soon going to have a new name. The company is undergoing a strategic
    reorganisation of its businesses to emerge as a global beverages leader. Moves are afoot
    to rechristen the company in the next 2-3 weeks, merge all its subsidiaries and
    associates and create a single entity. Not just that, a major acquisition in the US
    beverages space is also on cards. And Tata Tea is also looking to shift its operational HQ
    away from London. Such a move is slated to the help the company expand its global
    footprint in the long run.
   EBAY agreed to sell 65% of its Skype Internetcalling unit to an investor group led by
    Silver Lake for about $2 billion to focus on reviving sales at its main e-commerce site.
    MAHINDRA & Mahindra (M&M) is revamping its two-wheeler business to sharpen the
    product line-up and boost market share after spending a year cleaning up its
    procurement and sales networks.
    FMCG giant Colgate Palmolive has signed on SRK to be its new brand ambassador.
    Colgate-Palmolive is a key player in the oral care category — toothpaste, toothbrush,
    toothpowder and w h i t e n i n g products. Earlier, Saif Ali Khan and Asin Thottumkal
    have been the brand endorsers for Colgate Max Fresh. SRK has been associated with
    about 25 brands, among which are ICICI Bank, Dish TV, Nokia, Hyundai, Linc Pens,
    Compaq, Sunfeast, Emami, TAG Heuer, and Omega. It is estimated that the actor
    commands anywhere between Rs 3 and 9 crore for a brand endorsement.



    DELHI MEET TO SHAPE GENEVA TALKS




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




    Date: 03/09/09
   WITH demand for credit sluggish, banks have invested a record Rs 1 lakh crore in
    mutual funds between April and July 2009, nearly three times the amount they lent
    during the same period. Banks have continued to invest in mutual funds although
    Reserve Bank of India guidelines prescribe a higher capital requirement for such
    investments compared to government bonds. One reason for this could be that banks
    are choosing to remain liquid in anticipation of a hardening in interest rates, which may
    push down the value of their government securities portfolio.
   STATE-OWNED telecom operator MTNL on Wednesday submitted a bid to acquire a 75%
    stake in Nigerian Telecommunications (Nitel).




   WITH residential property buyers gradually returning to the market, especially in key
    regions like New Delhi-NCR (National Capital Region) and Mumbai, realty prices in these
    areas have moved up 10-15%. While some developers have increased prices across
    projects, others are doing it on a project-specific basis.
   INFRASTRUCTURE major IL&FS, the new promoter of Maytas Infra, on Wednesday made
    an offer to buy an additional 20% stake in the crisis-hit firm at Rs 112.80 a share. In a
    public announcement made to the shareholders of Maytas Infra, IL&FS said its open offer
    would begin on October 24 and close on November 12, 2009.
   TATA Sons, the unlisted holding company of the Tatas, plans to raise its stake in some
    group companies, after its dividend from the country’s biggest software developer, Tata
    Consultancy Services (TCS), doubled to Rs 2,000 crore.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



   THE Tata group may consider diluting its stake in Infiniti Retail — its wholly-owned
    subsidiary, which runs the consumer durable chain Croma — to private equity investors.




   GODREJ Appliances plans to invest Rs 120 crore in setting up a television facility in
    Himachal Pradesh by the middle of next year to meet supply as it goes ahead with
    national distribution of its recently-launched television brand Eon.
    Date: 05/09/09
    THE LN Mittal-controlled ArcelorMittal, the world’s largest steel company, will make a
    surprise entry into India by becoming a co-promoter of Uttam Galva Steels, a Mumbai-
    based steel firm promoted by the Miglani family with whom the Mittals share old
    business ties.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   THE government plans to exempt all revenue streams of cellphone operators other than
    income from mobile services while calculating spectrum charges, which may help
    companies such as Bharti Airtel, Reliance Communications and Idea Cellular save
    hundreds of Crores of rupees. All telcos pay between 2% and 6% of their total annual
    revenues towards spectrum usage charges, depending on the area of operation.
    Spectrum or radio frequencies are the airwaves on which all communication signals
    travel. This resource is currently allocated to telcos based on their subscriber figures.
   THE proposed health insurance joint venture (JV) between Delhi-based financial services
    group Religare Enterprises and the world’s second-largest reinsurer Swiss Re has fallen
    through. This is the second such proposed JV that has come unstuck for Religare, who
    had earlier parted ways with Dutch financial company Aegon in the mutual fund
    business. Incidentally, Swiss Re had agreed to buy a 26% stake in the health company
    at a significant premium, which would meet a large part of the company’s capital
    requirements.
   YOU may soon have to pay for your mobile alerts from banks and airlines which you
    currently get for free. Free and bulk SMS providers in India like SMSGupshup, MyToday,
    Way2SMS say that the industry is up for disruptions even as large operators like Airtel,
    Idea, Tata Teleservices have entered into interconnect agreements which allow for a 10-
    15 paise charge on each SMS to be paid to the network which has received them.
    Date: 06/09/09
   INFRASTRUCTURE Leasing & Finance Limited (IL&FS) has been handed control of rival
    Maytas Infra amid cancelled contracts and deep financial distress at a company once




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    overseen by the son of the disgraced founder of the erstwhile Satyam Computer
    Services. The government will wind down its role in Maytas Infra after having run it for
    about six months, a period during which it failed to arrest the cancellation of contracts
    the company had won before the Satyam financial scandal erupted in January. The
    Company Law Board (CLB), which in February said it would not allow IL&FS a Maytas
    Infra Board seat because the two companies are competitors, cleared a plan that it had
    opposed just six months ago. IL&FS, which is the single-largest shareholder in Maytas
    Infra, will control 37% of equity in the company.
   The telecom operator MTNL has submitted a bid to acquire a 75% stake in Nigerian
    Telecommunications (Nitel). The Indian telecom company will compete with 12 other
    bidders, including global majors such as Africa’s largest telecom operator MTN, the UAE’s
    Etisalat and Spain’s Telefonica, for the control of Nigerian governmentowned telco. MTNL
    will now appoint consultants to evaluate Nitel before placing a financial bid for the
    Nigerian firm that has both fixed-line and mobile operations (both GSM & CDMA).
   BillioaireLN Mittal-controlled ArcelorMittal, the world’s largest steel company, will make a
    surprise entry into India by becoming a co-promoter of Uttam Galva Steel, a Mumbai-
    based steel firm promoted by the Miglani family, with whom the Mittals share old
    business ties. ArcelorMittal will launch an open offer starting Monday for a 29.4% stake
    in Uttam Galva at a price of Rs 120 per share, a 27% premium over a two-week average
    and 85% premium over a six-month average. ArcelorMittal said it has signed a share
    purchase agreement for a 5.6% stake on September 3 and a copromotion agreement
    with the RK Miglani family and the company “in order to become a co-promoter and to
    obtain... board joint control rights”.
   India’s imports fell 37% in July, outpacing a 28% drop in exports and appearing to paint
    a flattering picture of the trade deficit, although government officials cautioned the true
    situation was far from celebratory. The steep fall in July imports—both oil and non-oil—to
    $19.62 billion resulted in the country’s trade deficit for the month halving to $6 billion
    from year-earlier levels, government data released on Tuesday showed. Merchandise
    exports fell for the 10th straight month in July, little changed from the 27.7% drop in the
    preceding month. Exports fell to $13.62 billion in July, but the exporters
    hope that the situation will improve by this year end amid expectations of an increase in
    orders ahead of Christmas and New Year.
   JAPANESE electronics giant Sony said on Wednesday it aimed to bring 3D television
    screens into homes next year, a technology usually found in the cinema at present. Sony
    said on the margins of the IFA, the world’s largest consumer electronics fair which opens
    to the public on Thursday, that it would “lead the commercialisation of 3D by bringing 3D
    to the home in 2010.” The firm also said it would make other products, such as its VAIO
    laptops, Blu-ray disc players and Playstation game consoles, compatible with the new
    technology. Viewers will wear electronic glasses that open and close rapidly in time with
    images designed for the right and left eye, creating a three-dimensional effect.
   Google on Wednesday said it had fixed a problem that caused its email service Gmail to
    suffer a widespread outage which the Internet giant said affected a “majority” of its
    users. Google’s App Status Dashboard, a website which tracks the performance of its
    various Webbased services, reported at 0083IST that the problem was “affecting a
    majority of users.” “The affected users are unable to access Google Mail,” it said. More
    than an hour-and-a-half later, at 00267IST, Google said the outage was over. “The
    problem with Google Mail should be resolved,” it said. Google’s last major technical




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                      Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    problem occurred in May, leaving millions of people unable to use popular services such
    as its main search page, as well as Gmail and Google News.
    Date: 07/09/09
   MORGAN Stanley, one of the US banks bailed out by the US government, is looking at
    exiting its back-office operations in India. The bank is exploring all options, including a
    part or full sale of its back-office unit that does IT development as well as finance
    and accounting-related work for the parent.




   THE board of HDFC will begin the process of identifying a successor to Deepak Parekh
    when it meets next month. Keki Mistry, vice-chairman and managing director, and Renu
    Karnad, joint MD, are widely seen as candidates to succeed Mr Parekh.




   LARSEN and Toubro (L&T), the country’s largest engineering and construction company,
    is in talks to buy a thermal coal mine in Australia for about $300 million, The mine has
    an estimated coal reserves of 250 million tonne (MT) that can generate enough
    electricity to meet the country’s needs for about seven months. “The acquisition will help
    in case the company plans to bid for any ultra mega power project (UMPP) going
    forward. Early this year, GMR Infrastructure acquired Indonesian coal company PT




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)



    Barasentosa Lestari to ensure coal supply for its proposed 1,500 MW power plant in the
    western coast. Last month, Jindal Steel and Power bought a thermal coal mine in South
    Africa.
   ACONSORTIUM led by Phoenix Mills is close to signing a deal with hotel chain Marriott
    International for its Kurla project in central Mumbai. The project goes by the name
    of Phoenix Market City. While the total area is 25 acres, the hotel will occupy 3 lakh sq
    ft.
   HAVING an effective management in India is not a sufficient ground to deny exemption
    from capital gains tax to a company that is based in Mauritius, ruled a Delhi bench of the
    Income-Tax Appellate Tribunal (ITAT). The ITAT held that under the India-Mauritius
    double taxation avoidance agreement (DTAA), being a resident of Mauritius is the ground
    for claiming exemption. The ITAT relied on an earlier judgement of the Supreme Court
    related to the UOI Vs Azadi Bachao Andolan case. The recent ITAT ruling was in the case
    of Saraswati Holding Corporation, an entity registered in Mauritius. The company was
    registered for the purpose of investing in the capital market in India.
     WITH the 1,600-acre IT township near Vedic Village about to bite the dust, West
    Bengal stands to lose out on a staggering Rs 10,000 crore of potential IT investments
    and the creation of 3 lakh IT/BPO jobs.
   ADITYA Birla Retail, which runs a chain of stores under the ‘More’ brand, has combined
    procurement and financial management of its two different formats of stores as it sets
    on course to correct past mistakes and make profits in three years.




   Welcome to FarmVille, a free online game that allows users to invest in farms and sell
    their produce for profit.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   Raking in $10 million, Dhoni is at the top of the chart, followed by Tendulkar at the
    second spot with earnings worth $8 million in the list.
    While Singh and Dravid are at the third and fourth spots, respectively, Ganguly and
    Australian cricketer Ricky Ponting share the sixth place. “Paycheck figures, include club
    and national team salaries and commercial endorsement income over the past 12
    months,” said Forbes.
    Date: 08/09/09
   B RAMALINGA Raju, former chairman of scam-tainted Satyam Computer Services, was
    admitted to the Nizam’s Institute of Medical Sciences (NIMS), following a heart attack
    this evening.




   THE dire economy appears to have made Americans less materialistic, with a poll
    showing most people would choose items from discount retailer Wal-Mart over luxury
    jeweller Tiffany’s trademark blue boxes.




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    Date: 09/09/09
   WAL-MART may have been held back by tough laws preventing foreign retail groups
    from setting up shop on their own in India, but a clutch of top so-called ‘private label’
    brands belonging to the world’s largest supermarket group could soon be adorning retail
    shelves across the country. Wal-Mart’s partner in India, Bharti Retail, has introduced
    eight private labels, including its top selling ‘Great Value’ food and ‘George’ clothing
    brands, in its ‘easy day’ supermarket chain. This marks the first time that Wal-Mart’s
    private labels are being launched in stores not owned by it. The US-based supermarket
    group operates in 16 countries and generates sales of $400 billion annually through
    7,800 stores. Analysts estimate that private label products account for about 16% of its
    overall food sales.
    INDIA’S takeover code, which was responsible for a big wave of M&A activity and
    corporate consolidation after being introduced in 1997, is set for a big change. The
    Securities and Exchange Board of India, or Sebi, has set up a special committee to
    review its key provisions after realising the need to make it relevant to current needs of
    investors and companies. C Achuthan, who has handed out many a ruling on mergers
    and acquisitions as a former presiding officer at the Securities Appellate Tribunal, will
    head the panel, as the regulator examines the possibility of making changes to some of
    the code’s key provisions such as the trigger limit for open offers. It will also look at
    doing away with the provision of non-compete fee and reviewing norms relating to
    indirect acquisition.




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    Date: 10/09/09
   GMR Infrastructure, owner of roads, power plants and airports, plans to sell shares of
    various businesses independently to raise Rs 7,500 crore after investors shunned a share
    offering in June. The group, which owns stakes in New Delhi and Hyderabad airports, will
    form four different companies to hold stakes in various ventures, a senior company
    official said. The four different companies will hold assets in airports, energy, roads and
    international businesses, in which shares will be sold separately.
   BLACKSTONE Group, one of the largest private equity players in the world, is in
    exclusive talks to acquire a 63% stake in Mumbai-based agro-chemicals and veterinary
    drugs maker Gharda Chemicals from its founder-promoter Keki Hormusji Gharda.
   PANTALOON Retail India (PRIL), India’s largest listed retailer, plans to invest more than
    Rs 500 crore to expand its seamless mall Central and the value fashion format Brand
    Factory over the next two years. Towards this, PRIL will add 25 Brand Factory stores and
    10-12 Central malls by 2011. At present, PRIL operates 10 outlets each for Brand
    Factory and Central. Post-expansion, Brand Factory’s revenue is projected to grow from
    Rs 250 crore to Rs 1,500 crore by calendar 2011, while the Central chain will see turn
    over growing from Rs 750 crore to Rs 2,500 crore.
    Date: 11/09/09
   HERE’S good news for serving and retired civil servants. The government has increased
    dearness allowance (DA) for government employees and dearness relief (DR) for
    pensioners by 5% with effect from July 1. This will put additional purchasing power in




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    the hands of civil servants to the tune of Rs 2,903.55 crore, up to end-February, after
    which another instalment of DA would kick in. This comes as good news for marketers
    gearing up for an action-packed festive season, and would increase consumption in the
    economy. The Union Cabinet’s decision to increase DA to 27% is in accordance with the
    accepted formula under the Sixth Pay Commission recommendations, an official release
    said. The Cabinet also cleared one percentage point interest subvention for home loans
    up to Rs 10 lakh.
   For the first time in more than one year, foreign direct investment crossed the $3-billion
    mark on a monthly basis. Total FDI inflows amounted to $3,476 million in July, up 55%
    from $2,247 million a month ago, shows the latest data from RBI monthly bulletin that
    was released on Thursday.
    Date: 12/09/09
   UB CHAIRMAN Vijay Mallya will combine his sports interests into a single entity and
    explore a possible listing on the bourses. The proposed entity will club assets like the
    Force India Formula-1 team, Royal Challengers Indian Premier League (IPL) team and
    ownership of football clubs East Bengal and Mohun Bagan.




    Date: 13/09/09
   THE INSTITUTE of Chartered Accountants of India (ICAI) has raised questions about
    ICICI Bank’s home loans business and has sought a fresh central bank audit of a two-
    year-old sale deal of dud loans, after a Mumbai-based chartered accountant spotted
    irregularities in some loans. ICICI Bank is accused of lending money for the purchase of
    some apartments in a housing project in a Mumbai suburb, and in some cases twice for
    the same set of apartments.
       According to the chartered accountant who spotted irregularities, the bank disbursed
    home loans for the purchase of 15 apartments in the Ritu Paradise Project developed by
    S R Developers in Mumbai’s Mira Road. Documents available with ICAI and in
    SundayET’s possession show that double loans were issued by the Bank on some flats.
    Date: 14/09/09
   Consumer durables major LG said its India operations would outgrow the parent
    company in Korea as it is tipped to increase five-fold to Rs 50,000 crore in revenue in
    the next five years. Betting big on the country, with decision to invest over Rs 5,000
    crore in marketing and R&D activities alone over the next five years, the Indian




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    subsidiary has already overtaken neighbouring China, LG Electronics India managing
    director Moon Bum Shin said. Touching the size of LG’s US operations is also in sight, he
    added.
   Buoyed by the success of Lavasa project, HCC Real Estate said it will develop a mini
    township for mixed-use on 500 acres in Nashik with an investment of around Rs 800
    crore.
   FMCG major Dabur, which is currently hunting for acquisitions in the African continent, is
    setting up its second manufacturing facility in Egypt as part of its expansion plan in the
    region. The company is also aiming to increase contribution from international markets
    to 25% in its overall business in the next two to three years from 20% now. Dabur
    already has two units in the continent, one in Nigeria and another in Egypt. The
    proposed unit, which is likely to be completed by this fiscal, would make personal-care
    products. The company said the proposed plant will help its foray into East, West and
    South Africa, where it is in the process of setting up a distribution network.
    Date: 15/09/09
    SOUTH Africa is pressing the Indian government for an agreement on dual listed
    companies (DLC) before the expiry of the merger talks deadline between Bharti Airtel
    and MTN, even as it indicated support for the $23 billion deal aimed at creating one of
    the world’s top five mobile groups.




   Fem, Dabur India’s newly-acquired personal care brand that saw a 30% rise in sales
    after tying up with Rakhi Ka Swayamvar.
   BASMATI exporters, who recently won a battle against the government over reduction of
    the minimum export price to $900/tonne from $1,100/tonne, are facing fresh trouble.
    Just days before the new season begins in October, there have been media reports in
    Iran—the biggest buyer of Indian basmati rice—that some basmati varieties, especially
    Pusa 1121 which was christened a basmati variety only last year, are genetically
    modified, chemically treated and harmful to health. The industry has taken up the issue
    with commerce secretary Rahul Khullar and urged government intervention at the
    appropriate level.
    Date: 16/09/09
   The proposed $23-billion deal’s contours, unveiled in May, involves MTN taking a 25%
    economic interest in Bharti Airtel for $2.9 billion plus new shares in the South African
    telco which is equivalent to 25% of MTN’s existing shares. Besides, MTN shareholders
    will also get an 11% stake in Bharti Airtel through GDRs that will be listed on the
    Johannesburg Stock Exchange.




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   THE most irresistible lure for shoppers —interest-free financing — is back in the market,
    with electronics and home appliances companies such as Sony, Samsung, LG and Voltas
    relaunching such schemes for the Navratras-to-Diwali festival season. Samsung, one of
    the largest players in consumer durables, has tied up with Bajaj Finance for a triple-zero
    finance scheme — translating into zero initial payment, processing fee and interest —
    covering all its products till October 31. “The offer will help consumers upgrade to
    premium products easily,” said Samsung India deputy managing director R Zutshi.
    Under a 0% finance scheme, the manufacturer bears the interest cost on the loan while
    the processing fee for the loan application is either passed on to the consumer or shared
    between the dealer and the manufacturer. So, while the consumer benefits by buying
    the product on easy instalments, the company draws revenues on bulk sales.
    Date: 17/09/09
   FMCG major HUL, known for launching starlets popularly known as ‘Liril girls’ through
    advertisements for its lemon soap, is now charting a different strategy to tap family
    audience, keeping in tune with changing times. Liril soap, which was recently
    relaunched, is now targeting a wider audience with the brand tailored to appeal to the
    entire family a change from the earlier times, when the likes of Karen Lunel, Preity Zinta,
    Tara Sharma and Deepika Padukone were made the face of the brand focusing on the
    youth segment.
    Date: 18/09/09
   FMCG major HUL, known for launching starlets popularly known as ‘Liril girls’ through
    advertisements for its lemon soap, is now charting a different strategy to tap family
    audience, keeping in tune with changing times. Liril soap, which was recently
    relaunched, is now targeting a wider audience with the brand tailored to appeal to the
    entire family a change from the earlier times, when the likes of Karen Lunel, Preity Zinta,
    Tara Sharma and Deepika Padukone were made the face of the brand focusing on the
    youth segment.
    Date: 19/09/09
   PRIVATE equity firm Kohlberg Kravis Roberts & Co (KKR) has increased its stake in its
    first Indiabased investment. The world’s largest US-based PE fund has invested $175
    million to raise its stake from 69% to 79% in Delhi-based telecom software solutions
    provider Aricent.
   Axis Bank has raised $720 million (around Rs 3,490 crore) by issuing equity through a
    mix of qualified institutional placement (QIP) and global depository receipts (GDR) issue.
    Date: 20/09/09
   THE BEST paid individuals in the country are promoters of their respective companies,
    says a survey by Sunday ET.




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                     Deepak Kumar Mehta, BIMM, Pune (2008 -2010)




   Consumer electronics companies such as Samsung, LG, Sony and Voltas launched
    interest-free finance offers to boost sales, they are also offering freebies to up sales
    during the festive season. Companies are also offering longer warranty periods on
    certain categories. In fact, these players also say that the impact on demand from the
    rural sector hasn’t been much. “We have been growing at around 25%. But during the
    festive season, we expect that to rise to 40%. Demand has been strong all year round
    and we are not expecting any impact from our sales in the rural sector because it forms
    a mere 20% of our revenues. Also, the government has paid out arrears to the tune of
    Rs 17,000 cr to its employees. So, even if around 60% of it flows into our category in
    the coming months it would mean nearly 10% of the industry’s total yearly revenues.
    This would offset any impact that inadequate rains would have had on a consumer’s
    spending power,” says V Ramachandran, director, sales and marketing, LGEIL.
    Date: 21/09/09
   BHARTI Airtel is making a slew of last-minute concessions to sew up a deal with MTN, as
    it awaits a political push to take the planned tie-up past the hurdle of national pride in
    South Africa. Bharti is offering to retain the top management of MTN for at least three
    years, giving the option of an all-cash offer to minority stakeholders of MTN, and more
    shares in itself for the same money, which would push up the cost of acquisition for
    Bharti, a person familiar with the revised plan said.




   TATA Teleservices’ efforts to attack its larger and established rivals in the country’s
    crowded telecom space by playing the price card have yielded instant results. For the




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    first time ever, Tata Teleservices has beaten the likes of Bharti Airtel, the country’s
    largest telco by revenues and subscribers,Vodafone Essar and Reliance Communications,
    to emerge on top in terms of monthly customer additions. The telco, which recently
    launched GSM service under the Tata DoCoMo brand, roped in a little over 3.4 million
    customers — GSM & CDMA platforms combined — during August, when compared to 2.8
    million by Bharti Airtel. Tata Teleservices’ August performance is a 52% increase over its
    July numbers when it added 2.2 million new customers to its network. In the same
    period (July), Bharti added 2.8 million new users while Vodafone and Reliance
    Communications increased their subscriber bases by 2.2 million and 2.3 million,
    respectively.
   Bajaj Discover DTS-Si 100cc motorcycle has sold one lakh units in the first 50 days of
    its launch. Bajaj Auto has already ramped up production of the vehicle to 80,000 units,
    using capacity at Pantnagar, to meet the demand during the festive season. Bajaj Auto
    CEO (two-wheelers) S Sridhar said: “We are already facing a stock out situation in some
    dealerships,” adding that the television advertising campaign for the bike has just
    started.
    Date: 23/09/09
   AS talk of a revival in the real estate sector is gaining ground coupled with some big-
    ticket deals also taking place, large companies with property are looking to make the
    most of the situation. A handful of corporates, including Hindustan Unilever (HUL),
    Mafatlal Industries and a private bank have put some of their real estate assets on the
    block. The total value of their assets could be in excess of Rs 400 Crore.
    Date: 24/09/09
    JAIPRAKASH Associates, a builder of dams and power plants, and Suzlon Energy, the
    wind power generator maker, on Wednesday led Indian companies in aggressively selling
    shares, taking advantage of a record rally in stocks to prune their debt.




   AFTER the Star burst, it’s now the Zee dhamaka. For the second time in a week,
    Hindustan Unilever (HUL) will block ads of all other advertisers for an entire day on a
    chosen network. On Thursday, 25 channels of the Zee Network will air ads only of
    brands that belong to HUL’s portfolio of personal and skin-care categories like Lifebuoy,
    Dove, Ponds and Fair & Lovely.




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   THE government has decided to stop Chinese welders, plumbers and other semiskilled
    workers from working in India in a move that is aimed at opening up more jobs for
    Indians but may end up delaying key power projects using Chinese equipment.
    Date: 25/09/09
   South African officials, who met the Securities & Exchange Board of India, or Sebi, the
    Reserve Bank of India, or RBI and finance ministry officials in Mumbai, sought an
    exemption from a clause that mandates purchase of a 20% stake from minority holders
    if an entity’s stake in a company touches 15%.
   Luxury brand Gucci has parted ways with its Indian franchisee Vijay Murjani. Gucci now
    has a franchise agreement with investment banker Ashok Wadhwa’s Luxury Goods Retail
    and is in the process of converting it into a 51:49 joint venture.
   MORE than 40 workmen are feared to have been trapped under a chimney that collapsed
    on Wednesday at Balco’s aluminium smelter in Korba in Chattisgarh, raising concerns
    about safety norms in industrial units and at under construction sites.
   THE Indian logistics sector is expected to clock Rs 5,96,114 crore in annual revenues by
    2013-14 on the back of strong growth in economic fundamentals as well as favourable
    regulatory environment. The introduction of goods and service tax (GST) from April 1,
    and the development of logistics parks will be a boost to the sector, which will post a
    11% compound annual growth rate for the next five years, according to research firm
    Crisil. The logistics industry revenues are pegged at Rs 3,60,000 crore in 2008-09, which
    includes primary transport modes and infrastructure as well as secondary movement
    (from the hub to various depots). This accounts for 10.7% of GDP, which is significantly
    higher than 5-7% that is registered in developed nations.
   TATA Housing — a real estate firm of the Tata Group — on Thursday announced an
    affordable housing project in Boisar near Mumbai, its second such project this year. The
    new project would offer 1,300 apartments, including 2 BHK and 3 BHK homes, starting
    at Rs 12.73 lakhs per flat, with a minimum size of 670 sqft, said a Tata Housing
    statement. The new project focuses on the affordable segment and offers facilities such
    as swimming pool and gymnasium.
    Date: 26/09/09
   After toppling rival Bharti Airtel by adding the highest number of subscriber in a month,
    Tata Docomo said it will keep the momentum going as it takes its GSM service to new
    cities. Tata Docomo which launched its services in June became the first mobile operator
    to launch per-second billing, doing away with the concept of per minute pulse rate. The
    operator had also launched a pay-per-character-SMS scheme and pay-per-call schemes
    for its CDMA customers, all of which have received massive response from the
    subscribers. “We will continue to launch more innovative services as we launch GSM
    services in other circles across the country,” Tata Docomo president Deepak Gulati said.
   AFTER the Nuclear Non-proliferation Treaty (NPT), the US has renewed the call for
    countries to sign the Comprehensive Test Ban Treaty, but India, for now, remains
    unfazed. The government has said no to both CTBT and NPT. And officials pointed out
    that the US, which is yet to ratify the CTBT, is in no position to push other countries to
    sign the treaty.
   INDIA’S space agency said on Friday that it has been able to detect deposits on the
    moon of a mineral which can be used to fuel power plants, a day after the
    announcement of incontrovertible evidence of the presence of water on earth’s only
    natural satellite. The Chandrayaan-1 spacecraft, which set out on India’s first lunar




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    voyage in October last year, has identified deposits of helium-3 (He-3), accomplishing
    one of the key objectives of its mission.
   UNILEVER, the maker of Dove soap, agreed to buy Sara Lee’s personal-care and
    European detergent unit for € 1.28 billion ($1.88 billion), gaining Sanex shower gel in its
    biggest purchase in nine years.
    Date: 27/09/09
   IT WAS a harrowing Saturday for passengers travelling by Air India flights as 150
    executive pilots went on mass sick leave from Friday midnight to protest pay cuts.
   TWITTER received $100 million in funding on Friday, valuing the company at $1 billion.
   NISSAN Motor will roll out its new sports car ‘Z370’ in India in 2010 as part of its
    strategy to offer more variants to the Indian customers.
    Date: 28/09/09
   THE animation industry is likely to have the going good in respect of jobs. Nasscom’s
    projections suggest that employment in this sector will double from 14,700 now to
    29,500 by 2012.
   HINDUSTAN Unilever (HUL) has taken Eureka Forbes (EFL) to court for creating an
    advertisement for Aquasure that allegedly shows its mascot for Pureit in a demeaning
    manner.




   THE third-party logistics (3PL) business in India is likely to reach $90 million by 2012
    from $58 million now, as the model is fast catching up among the country’s businessmen
    due to its cost advantage.
    Date: 29/09/09
   THIS will be a make-or-break 48 hours for the $24-billion transaction between India’s
    largest telco Bharti Airtel and Africa’s largest mobile operator MTN, with the South
    African government expected to communicate its stance on Tuesday to the two
    companies seeking to create the world’s third largest mobile firm. South African
    president Jacob Zuma will consult the team of government officials that visited India last
    week as well as the ruling African National Congress (ANC) and take a decision on
    whether the government’s insistence on a dual listed company or DLC structure can be
    waived.




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   SEVERAL foreign institutional investors (FIIs) have approached Sebi to express their
    unease over the clause in the recent Sebi guidelines that bans IPO-bound companies
    from making financial projections. Earlier this month, the regulator overhauled the
    disclosure & investor protection (DIP) guidelines, replacing it with the issue of capital
    and disclosure requirements (ICDR) regulations.
   Personal care and food products maker Dabur India plans to open three manufacturing
    facilities in India and overseas, which will be operational by July next year. The company
    is setting up a unit each in Himachal Pradesh and Uttarakhand, besides one in Egypt.
    Date: 01/10/09
    INDIA’S telecom czar Sunil Mittal’s dreams of forging a transnational alliance with
    Africa’s largest telco MTN were shattered for the second time in less than two years with
    Bharti Airtel and the South African company calling off talks a few hours before the
    expiry of the September 30 deadline after the South African government refused
    to soften its stance on the proposed deal structure. “Bharti and MTN have decided to
    disengage from their discussions when the exclusivity period ends on September 30
    2009. This (deal) structure needed an approval from the government of South Africa,
    which has expressed its inability to accept it in the current form.
   The markets never cease to surprise. A boom can be as stealthy as a crash. As the world
    debated on ‘green shoots or yellow weeds’, stocks climbed unnoticed. Few had a chance
    to ride the rally, which saw the Sensex soar from 8,160 on March 9 to 17,126 where it
    closed on Wednesday. With the Nifty at 5,083, another 20% gain by March 2010 would
    mean a 100% gain for this fiscal.
   THE some-pain-no-gain era of double payments by Indian workers on temporary
    assignments abroad will no longer happen in Germany at least. They will now not be
    required to pay social security taxes there as the India-Germany Social Security
    Agreement (SSA) signed last year comes into effect on Thursday. This is the second such
    pact after the India-Belgium SSA.
    Date: 02/10/09
   HYUNDAI, Honda, General Motors and Ford sold a record number of cars in a month in
    September as buyers — more confident of jobs and bonuses than last year — lapped up
    cheap financing schemes offered by banks flooded with deposits. But Maruti, which
    accounts for about half the cars sold in the country, missed the monthly record as it
    suspended production of the SX4 sedan.




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   ULTRATECH will buy Grasim’s cement division in a deal worth more than $2 billion as the
    Aditya Birla Group’s attempts to consolidate its cement business under one single roof
    reaches fruition after 11 long years. Ultratech, 55% owned by Grasim Industries, will
    buy the latter’s cement plants with an annual production capacity of 22 million tonnes
    and issue shares worth more than Rs 9,500 crore to its parent. The transaction will
    create India’s single-largest entity in the cement industry. Swiss giant Holcim’s Indian
    subsidiaries, Gujarat Ambuja and ACC, have a combined higher capacity but do not form
    one corporate entity.
   TAKING a serious view of China’s latest move to issue “separate” visas to Indian
    passport holders from Jammu and Kashmir, the government has told Beijing in no
    uncertain terms to put an immediate end to this practice or face a similar discrimination,
    besides fewer and tougher visas, for its own citizens seeking Indian visas.
    Date: 03/10/09
    INDIA’S largest bank, State Bank of India, is foraying into the international market to
    raise close to $1 billion, riding on the back of improved sentiment for Indian paper. The
    bond issuance will be part of the bank’s medium-term note (MTN) programme that
    envisaged the bank raising up to $1billion in 2004. The amount was scaled up to $5
    billion in February 2007. Last week, SBI filed an update to the offering circular under the
    MTN programme with the Singapore Stock Exchange.
   FINNISH electronics firm Elcoteq said on Friday that it has reached a preliminary
    agreement with Videocon Industries for the Indian company to buy an equity stake in it
    for about $72 million (Rs 345 crore or € 50 million).
    THE Indian hotel industry will almost double the number of rooms from the current
    levels in 3-4 years by adding an estimated 55,000 rooms, as per a study by consulting
    firm HVS India. The development of new rooms is going to be led by regional real estate
    players and hospitality firms as most large real estate developers have abandoned or
    scaled down their expansion plans. The study revealed that fewer new rooms were
    announced last year but developers started work on a higher proportion compared to
    2007-08.




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