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Diageo launches pre-mixed vodka Smirnoff Ice in India

Written By komp limpulima on Rabu, 29 Oktober 2014 | 21.03

The drinks would be available in two flavours -- Smirnoff Ice Black and Smirnoff Ice Original.

UK-based distiller Diageo on Wednesday introduced its first pre-mixed vodka in the Indian market with the launch of Smirnoff Ice, a variant of the world's top selling vodka brand Smirnoff. The drinks would be available in two flavours -- Smirnoff Ice Black and Smirnoff Ice Original.

Smirnoff Ice Black has a strong, sharp intense taste, while Smirnoff Ice Original is lighter lemon-flavoured priced between Rs 75 and Rs 110 in Goa and Karnataka, where the brands will be available shortly.

Speaking on the launch, Bhavesh Somaya, Marketing & Innovation Director, Diageo India commented: "Smirnoff Ice will revolutionize a unique occasion/space with the proposition of "Starting the party with ICE" - with its convenient premixed format. We are tapping into a new occasion and looking to drive recruitment of LDA+ consumers with Smirnoff. Its attractive packaging and refreshing taste will resonate well with consumers looking for exciting convenient options."


21.03 | 0 komentar | Read More

Finmin to seek Rs 10,000-11,000cr cap infusion in PSBs

The government so far has budgeted Rs 11,200cr for capital infusion into public sector banks in FY15, but this may not be sufficient to meet their capital requirements

The fiscal is likely to face pressure as demands for additional funds are already knocking at the government's door. CNBC-TV18 has learnt that the finance ministry is likely to seek Parliament's nod for additional spending of Rs 10,000-11,000cr for capital infusion into public sector banks in the current fiscal.

The government so far has budgeted Rs 11,200cr for capital infusion into public sector banks in FY15, but this may not be sufficient to meet their capital requirements. Hence, there could be a need for supplementary demand for grants.

In the meanwhile, finance ministry is likely to seek the Cabinet's nod to lower its stake to 52 percent in public sector banks, only towards the end of November. Significantly, the Cabinet nod will also include further capital infusion over a four-year period into these banks. Simultaneously, the revenue department has also raised a demand of Rs 16,000 cr as first tranche payment for CST arrears to state governments. Total unpaid arrears to states stand at Rs34,000 cr and the Centre has promised to pay at least one-third of this amount, if not more, to state governments as soon as possible.


21.03 | 0 komentar | Read More

SAT to hear DLF's plea against Sebi order tomorrow

Earlier this month, Sebi barred the company and six others, including the company's top executives, from accessing capital market for three years for "active and deliberate suppression" of material information at the time of its IPO over seven years ago.

The Securities Appellate Tribunal (SAT) will Thursday hear an appeal against regulator Sebi by realty giant DLF , which has sought an interim relief for redeeming funds locked in mutual funds and other instruments.

Earlier this month, Sebi barred the company and six others, including the company's top executives, from accessing capital market for three years for "active and deliberate suppression" of material information at the time of its IPO over seven years ago.

Following the Sebi's order, the company moved to SAT, which last week sought Sebi's reply on DLF's plea for an interim relief. Sebi has been asked to give its reply by tomorrow.

During the first hearing on October 22, the company sought an interim relief from the Tribunal, while Sebi faced the flak for delay in passing the order and also for the adverse impact suffered by shareholders, who lost over Rs 7,500 crore of their wealth in a single day post the order.

While promoters own 74.93 percent stake in DLF, foreign institutional investors have close to 20 percent and retail shareholders have about 4 percent among others.

This was one of the rare orders by Sebi where it barred a blue-chip firm and its top promoter/executives from market.

DLF's initial public offer in 2007 had fetched Rs 9,187 crore -- the biggest IPO in the country at that time. As the case progresses, the industry experts are of the opinion that the case will have wider ramifications for the entire real estate sector and the regulatory framework applicable to them.

Top executives from real estate sector and capital markets intermediaries have said the case needs to be seen in a different perspective from those pertaining to sectors other than real estate.

At the same time, the role of merchant bankers, legal advisors and others involved in the process of making IPO-related disclosures also needs to be examined, they said.

The case has also brought to limelight 'technicalities' involved in the practice of Sebi giving 'observations' and not 'approval or clearance' for an IPO.

There is a view that regulators need to understand that the business practices tend to be different in real estate sector, from manufacturing or other segments of the economy.

However, others feel that regulations cannot be overlooked to accommodate certain 'prevailing practices' in one particular sector, such as those related to use of 'friendly' entities for purchase of land or development rights in the name of ease of doing business.

DLF stock price

On October 27, 2014, DLF closed at Rs 118.15, up Rs 6.85, or 6.15 percent. The 52-week high of the share was Rs 242.80 and the 52-week low was Rs 100.00.


The company's trailing 12-month (TTM) EPS was at Rs 2.52 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 46.88. The latest book value of the company is Rs 93.40 per share. At current value, the price-to-book value of the company is 1.26.


21.03 | 0 komentar | Read More

India ranks 142 in World Bank's 'Doing Business' report

India ranked 142 among the 189 countries surveyed for the latest World Bank's "Ease of Doing Business" report released today, a drop by two places from the last year's ranking.

The drop in India's ranking from last year's 140 is mainly because other nations have performed much better, Bank officials said.

In the 2014 report, India had 52.78 points and this year it has 53.97 points.

The latest ranking, however, does not take into account the slew of measures taken by Modi Government to make India a business friendly destination.

"We do not want to send the impression that the drop in India's ranking is connected in any way with the current political situation (government)," said Augusto Lopez-Claros, Director, Global Indicators Group, Development Economics of the World Bank Group.

"It is absolutely true that the new government of Mr Modi has made it very clear that they see the creation of a better investment climate and a more friendly business friendly environment in India a top priority. However, it is important to remember that the new Government did not come into office until the second half of May," he said.

Highly appreciative of the steps taken by the new Indian Government, World Bank officials asserted that there was a very high likelihood of India significantly jumping up the ladder in the next ease of doing business report.

Singapore with 88.27 points occupies the top position in the ease of doing business followed by New Zealand, Hong Kong, Denmark and South Korea respectively.

Among other major countries, the US has been ranked seventh, Britain (eight), China (90), Sri Lanka (99), Nepal (108), Maldives (116), Bhutan (125), and Pakistan (128).

In a conference call with reporters, Bank officials cautioned against linking the latest ranking with the steps taken by the new Indian Government.

Noting that the cut-off of ease of doing business is May 31st, Lopez said whatever the government would do and whatever is in the pipeline is going to have an impact on these indicators only next year.

When asked about the ambition of the new Indian Government to move up the ladder and gain a ranking within top 50 countries, Lopez said, "There is no reason, why not?".

"Absolutely, it can be done. There are many examples of countries who through focused efforts, through intelligently designed reforms have managed to make very substantial improvement," he said.

Though India did drop a little bit in terms of its ranking, the ease of doing business has improved over the last 12 months, he said.

Rita Ramalho, lead author of the Doing Business report, said India's ranking dropped, despite improvement in its business environment, because other countries improved.

"There is a continuous improvement across the world. India improved, but others improved at a faster pace," Ramalho said.


21.03 | 0 komentar | Read More

Cabinet may take up coal price pooling today

According to sources, the government is also likely to re-introduce a bill to set up a coal regulator in the Winter Session of Parliament.

The Cabinet is likely to take up coal pricing pooling this evening. Power plants are staring at a bleak future after the Supreme Court cancelled over 200 coal block allocations. Also, sources say the government will re-introduce a bill to set up a coal regulator in the Winter Session of Parliament.

India's power sector has acutely failed to scale up production due to several issues: lack of increase in coal, which powers two-thirds of the country's power plants; inadequate production of natural gas, which powers a large chunk as well; and lack of investment due to irrational tariff structuring (governments holding back power companies to increase prices, commensurate with costs). The big step to boost to power sector, according to analysts, would be coal denationalization.

Currently, only state-run companies can mine coal in India for commercial purposes, an effort led by Coal India , which has of late increasingly failed to meet its production targets. This has led to India becoming the world's third-largest coal importer despite sitting on its fifth largest reserves.

Since 1993, several private companies were allowed to mine coal but only for their end use such as power and steel production, but the decision was recently adjudged illegal by the Supreme Court -- for the ad-hoc manner in which they were handed out -- which de-allocated most of such blocks awarded since then. Allowing commercial mining of coal would spur investment in the sector, bring in international miners with advanced technologies and spur production, according to experts.

The government is also expected to decide how it would auction the blocks that were cancelled by the Supreme Court.

Coal India stock price

On October 27, 2014, Coal India closed at Rs 357.95, up Rs 1.55, or 0.43 percent. The 52-week high of the share was Rs 423.85 and the 52-week low was Rs 240.50.


The company's trailing 12-month (TTM) EPS was at Rs 20.04 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 17.86. The latest book value of the company is Rs 26.04 per share. At current value, the price-to-book value of the company is 13.75.


21.03 | 0 komentar | Read More

Blackmoney: SC orders govt to reveal all names by tomorrow

Written By komp limpulima on Selasa, 28 Oktober 2014 | 21.04

The Supreme Court in its 2011 order had directed complete disclosure of information on people who have black money abroad.

The Supreme Court on Tuesday rapped the government for withholding information and directed it to disclose all entities named in the black money list provided by foreign authorities by tomorrow. The Supreme Court in its 2011 order had directed complete disclosure of information on people who have black money abroad, and accused the government of providing "protective umbrella," to some whose names appear on the list.

On Monday, the government had disclosed a few names against whom it has initiated prosecution under the Income Tax Act for allegedly stashing black money in foreign banks.

The blackmoney account holders whose names have been revealed are Dabur India promoter Pradip Burman, bullion trader Pankaj Chamanlal Lodhiya, Goa mining company Timblo Private Ltd and five of its directors — Radha Satish Timblo, Chetan S Timblo, Rohan S Timblo, Anna C Timblo and Mallika R Timblo. The names appeared in a 16-page affidavit filed in the apex court, but all entities have denied any wrongdoing.

Speaking to the press, Finance minister Arun Jaitley said the government will share the list given to SIT in June with the Supreme Court. Attorney General of India Muku Rohtagi also told CNBC-TV18 that the government has no issues with any agency investigating the case. Facing flak for not revealing all the names, Jaitley had earlier said the government will reveal identity of only those entities against whom the authorities have prosecutable evidence.


21.04 | 0 komentar | Read More

FII stake in SKS reaches record 44.72% high in Jul-Sep qtr

Continuing with the bullish stance on SKS Microfinance, foreign investors have hiked their stake in it to all-time high of 44.72 percent during the July-September quarter amid a sharp rise in the company's share price.

Continuing with the bullish stance on SKS Microfinance , foreign investors have hiked their stake in it to all-time high of 44.72 percent during the July-September quarter amid a sharp rise in the company's share price.

Foreign Institutional Investors (FIIs), which held 36.90 percent stake in SKS at the end of September 30 last year, raised their stake to 44.72 percent during the July-September quarter of 2014-15, as per the latest information available with the stock exchanges.

This marks the fourth quarterly increase in FII holding in SKS Microfinance, India's only listed player in the sector. 

FIIs have been raising their exposure in the Hyderabad-based firm since June last year.

They had 35.83 percent stake in the micro finance firm at the end of June 30, 2013. Their
holding stood at a record low of 8.33 per cent during the June quarter of 2012.

In comparison, overseas investors had 44.61 percent stake in the microfinance firm in the June quarter this year.

In terms of numbers, the FII count jumped to 91 at the end of September quarter this year from 75 in the preceding three-month period.

There was over 8 percent surge in SKS share price between July and September, while the BSE benchmark index Sensex moved up around 4.78 percent during the period.

SKS stock was trading at Rs 316 per share on the BSE today. The company's scrip had touched its 52-week high of Rs 348.35 last month.

However, the stock had taken a major beating since its listing in August 2010 at a price of over Rs 1,000 per share. 

There had been a major policy clampdown on micro finance institutions following a spate of suicides by small borrowers amid allegations of strong-arm recovery tactics adopted by them.

The company had debuted on the bourses after sale of shares in Initial Public Offer at a price of Rs 985 apiece. 

Analysts believe that company's good performance on financial front and strong loan portfolio has helped FIIs to rush towards it.

During the quarter, SKS's net profit jumped to Rs 56.8 crore from Rs 16.3 crore in the year-ago period. Besides, the company's revenues rose to Rs 190.11 crore from Rs 129.95 crore during the three months ended September 30, 2013.

SKS Microfin stock price

On October 27, 2014, SKS Microfinance closed at Rs 316.40, down Rs 3, or 0.94 percent. The 52-week high of the share was Rs 348.35 and the 52-week low was Rs 140.75.


The company's trailing 12-month (TTM) EPS was at Rs 12.27 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 25.79. The latest book value of the company is Rs 37.86 per share. At current value, the price-to-book value of the company is 8.36.


21.04 | 0 komentar | Read More

Bank employees to go on strike on Nov 12

In Tamil Nadu alone thousands of employees would abstain from work and transactions of several cheques and ATM services would be affected, he said.

Banking services and ATM networks across the country are likely to be affected on November 12 as the United Forum of Bank Unions, an umbrella organisation comprising various employee bodies, has planned to go on a day's strike pressing for wage revision.

United Forum of Bank Unions, representing five workmen unions and four officers' association, has planned to observe one day token strike on November 12 demanding immediate settlement of wage revision for bank employees, All India Bank Employees Union, General Secretary, Ch Venkatachalam said.

"We will go for a strike on November 12. Again we will be conducting strike in zone wise in December 2", he told reporters.

He said the bank employees never lagged behind in various implementation of schemes. "In spite of the wholehearted support in implementation of the government schemes announced from time to time, the bank employees are not being comparatively paid adequately", he said.

According to Association officials, Indian Banks' Association offered only a 11.5 per cent increase in hike compared to 17.5 per cent offered in 2011-12. "Indian Banks' Association have said that the banks are reporting losses due to huge Non-performing assets. We are not ready to accept it. We are forced to stage this protest", an official said.

Meanwhile, according to Venkatachalam, the protest in South zone would be held on December 2, North zone the next day, Eastern zone on December 4 and Western zone on December 5.

In Tamil Nadu alone thousands of employees would abstain from work and transactions of several cheques and ATM services would be affected, he said.


21.04 | 0 komentar | Read More

Maruti launches new Swift with enhanced fuel efficiency

The Swift now comes with improved fuel efficiency of 10 percent and a rich equipment list like push start button, a 60:40 split rear seat, electric retractable outside mirrors, reverse parking sensor and others," MSI Executive Director Marketing & Sales, RS Kalsi said in a statement

Country's largest carmaker  Maruti Suzuki India (MSI) today launched refreshed version of its popular hatchback Swift with 10 per cent enhanced fuel efficiency, priced between Rs 4.42 lakh and Rs 6.95 lakh (ex-showroom Delhi). The model, which was first launched in the country in May 2005, has been re-introduced in both petrol and diesel variants.

"The Swift now comes with improved fuel efficiency of 10 percent and a rich equipment list like push start button, a 60:40 split rear seat, electric retractable outside mirrors, reverse parking sensor and others," MSI Executive Director Marketing & Sales, RS Kalsi said in a statement. With this change, the company retains the DNA of the Swift and yet add features to make the product more exciting, he added.

"The reborn Swift is a tribute to the bestseller of the industry and in line with Maruti Suzuki's commitment to the customers to keep refining our models and win their hearts," Kalsi said. The company has sold over 12 lakh Swift cars till date, he added.

According to the company, the new Swift diesel comes with a certified fuel efficiency of 25.2 kmpl, up by 10 percent from the outgoing model while the fuel efficiency of the petrol variants has been improved by 9.67 per cent to 20.4 kmpl. The introductory prices of the petrol variants of the car range between Rs 4.42 lakh and Rs 5.9 lakh, while the diesel versions of the car are priced between Rs 5.56 and Rs 6.95 lakh (ex-showroom Delhi).

Maruti Suzuki stock price

On October 27, 2014, Maruti Suzuki India closed at Rs 3150.60, down Rs 19.35, or 0.61 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1504.80.


The company's trailing 12-month (TTM) EPS was at Rs 96.45 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 32.67. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.54.


21.04 | 0 komentar | Read More

Received 3500 inquiries in less than 1 month: Invest India

Arbind Prasad, managing director, says Invest India has been launched for over three year but its only now that investor queries are actually coming in significantly.

Prime Minister Narendra Modi's pet project, Make in India has stirred up investor interest in India.

In an exclusive interview to CNBC-TV18, Arbind Prasad, managing director, Invest India, the vehicle to guide investments into the country said that the organization has seen a sudden spike in investor queries, within weeks of 'Make in India' campaign's launch.

Arbind says Invest India has been launched for over three year but its only now that investor queries are actually coming in significantly.

"Since its inception we have had about 1700 enquiries, but since September 25, the day that Make in India project was launched, we have had about 3500 enquiries," says Prasad.


21.04 | 0 komentar | Read More
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