Android co-founder Andy Rubin to leave Google

James Kuffner, a research scientist at Google and a member of the robotics group, will replace Rubin, the company added.

Google Inc said on Thursday that Andy Rubin, co-founder of its Android mobile business and head of its nascent robotics effort is leaving the company.

Rubin will start a company to support startups interested in building technology-hardware products, Google said in an emailed response for comment on a Wall Street Journal report about his move.

James Kuffner, a research scientist at Google and a member of the robotics group, will replace Rubin, the company added.

Last year, Google's browser and applications chief Sundar Pichai replaced Rubin as head of the Android division, bringing the firm's mobile software, applications and Chrome browser under one roof.

Rubin built Android into a free, open-source software platform now used by most of the world's largest handset manufacturers, from Samsung Electronics Co Ltd to HTC Corp .

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Leading telcos seek to defer spectrum auction

In a letter to Telecom Minister Ravi Shankar Prasad, they have also written that operators whose permits are expiring in 2015-16 may be allowed to continue with their existing in-use spectrum.

Leading telecom firms have said the government should defer the upcoming spectrum auction till the time adequate radiowaves are made available across bands.

In a letter to Telecom Minister Ravi Shankar Prasad, they have also written that operators whose permits are expiring in 2015-16 may be allowed to continue with their existing in-use spectrum.

The operators, Bharti Airtel , Vodafone, Idea Cellular  and Reliance Communications , have proposed to pay the price discovered in February 2014 for 1800 MHz with 900 MHz multiplier as recently recommended by telecom regulator Trai.

"This may be adjusted subsequently if required, for the price discovered in the next round of auctions," the letter said, a copy of which has also been marked to Prime Minister Narendra Modi.

The operators said conducting auctions in an environment of spectrum shortage, has serious implications on investments, predatory pricing and continuity of services and on public interest.

"We believe that our proposed solution will be in public interest as it will protect the revenues of government, ensure continuity of service to subscribers, security of existing investments as also maintain/restore investor confidence in the sector," the letter said.

Bharti Airtel stock price

On October 31, 2014, Bharti Airtel closed at Rs 398.30, down Rs 9.2, or 2.26 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.

The company's trailing 12-month (TTM) EPS was at Rs 19.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 20.4. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.39.

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UCO Bank sends notices to Kingfisher Airlines, another firm

The source said the letter sought to explain the reasons behind identifying the two firms as `wilful defaulters', adding that time had been given to them for giving reply on why they should not be declared as `wilful defaulters' as per RBI guidelines.

City-based UCO Bank  has shot off notices to Vijay Mallya-owned Kingfisher Airlines  and United Beverages after identifying the two firms as `wilful defaulters'.

"We have sent notices to the defunct carrier Kingfisher Airlines and United Beverages, which had given a corporate guarantee to the bank for availing of the loan", a source in UCO Bank told PTI.

The source said the letter sought to explain the reasons behind identifying the two firms as `wilful defaulters', adding that time had been given to them for giving reply on why they should not be declared as `wilful defaulters' as per RBI guidelines.

The notices had been sent to the companies' corporate offices in Bangalore.

He said that Kingfisher Airliners had availed a loan amount of Rs 300 crore as working capital from the bank, but had defaulted in making the repayments.

The interest accrued on the loan would be to the tune of Rs 100 crore, the source said.

While another city-based United Bank of India  had declared Kingfisher Airlines as `wilful defaulter', two other banks, State Bank of India  and Punjab National Bank , were also pursuing on those lines.

UCO Bank stock price

On October 31, 2014, UCO Bank closed at Rs 87.30, up Rs 1.35, or 1.57 percent. The 52-week high of the share was Rs 115.75 and the 52-week low was Rs 62.05.

The company's trailing 12-month (TTM) EPS was at Rs 14.99 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 5.82. The latest book value of the company is Rs 110.64 per share. At current value, the price-to-book value of the company is 0.79.

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Vigneshwara Group MD Sunil Dahiya arrested by EOW

Dahiya is accused of duping investors of over Rs 1,000 crore. He had promised huge returns for people investing in his real estate deals.

Sunil Dahiya, the managing director of real estate company Vigneshwara Group has been arrested by the Economic Offences Wing.

Dahiya is accused of duping investors of over Rs 1,000 crore. He had promised huge returns for people investing in his real estate deals.

The Delhi and Gurgaon police have received complaints alleging Vigneshwara Developers had stopped paying the promised rate of return.

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Maha govt's realty agenda: Reviving property market

Maharashtra's new Chief Minister Devendra Fadnavis has many challenges to deal with as he gets down to business. The new CM is understood to be keen on keeping a close watch on urban development and housing but addressing the sectors woes may not be an easy ride, reports CNBC-TV18's Manasvi Ghelani.

"I would like to assure people of Maharashtra that we will follow the same path as Prime Minister Narendra Modi -- the path of inclusiveness, development and transparency," said Devendra Fadnavis, CM, Maharashtra.

Fadnavis superceded several state leaders, to become one of Maharashtra's youngest chief ministers, and now the 44-year-old has his task cut out.

Urban development and housing are expected to be high on his priority list, but rather than announcing new policies, the task before Fadnavis is to first tie up loose ends left behind by the previous government. For instance, setting up of state's housing regulator. The plan received presidential assent in February this year, but it still hasn't seen light of day.

According to Ashutosh Limaye, Head - Research, JLL India: "The guidelines are pretty much laid out, once the agency starts functioning, it will protect interest from everybody. The public agencies that are responsible for granting permissions they also should be brought under the purview of this agency. They also have to own up the responsibility of prompt permission or at least examine the proposals on time. If the proposals are faulty, go ahead and reject them but just sitting on proposals for long time is certainly not acceptable, that is missing."

Clearing the Red Tape & Delays

Digitization is expected to be a key focus area for the new government. Fadnavis is likely to take a cue from central government and move towards online applications for all projects. This is likely to cut down delays in project approvals. The BJP manifesto promised development of business districts in all municipalities within Mumbai Metropolitan Region and establishment of 10 smart cities in Maharashtra.

But, experts believe issues specific to the state like the cluster policy which was cleared by Maharashtra Cabinet in September this year, needs to be addressed first. The policy entitles redevelopment of buildings which are more than 40 years old, and it also allows 1,000-1,500 land parcels to be opened up for development in Mumbai.

"Development of old, dilapidated buildings and its not just related to Mumbai even other cities, we need to ensure there is enough economic relief for all stake holders for the scheme to take off," Limaye said.

Development Of Dilapidated Buildings: Key Focus Area

The list of old unfinished projects is a long one. The elevated railway corridor, water transport, metro and monorail connectivity are again in the spotlight. As Maharashtra's first BJP government gears up to invite industries to 'Make In Maharashtra', it is perhaps aware that expectations of removing the state's long standing infrastructure bottlenecks run high.

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Diageo launches pre-mixed vodka Smirnoff Ice in India

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."

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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.

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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.

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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.

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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.

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Blackmoney: SC orders govt to reveal all names by tomorrow

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.

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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.

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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.

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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.

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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.

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PE investments touch $3.1 bn in July-Sep: Grant Thornton

According to the assurance, tax and advisory firm Grant Thornton, PE investments witnessed a significant improvement both in terms of value (47 percent) as well as volume (37 percent) in July-September quarter.

Private equity investment in the July-September quarter reached USD 3.1 billion, registering a growth of 47 percent over the corresponding period last year driven by the Flipkart deal, says a report.

According to the assurance, tax and advisory firm Grant Thornton, private equity investments witnessed a significant improvement both in terms of value (47 percent) as well as volume (37 percent) in the July-September quarter this year.

In the quarter, PE investments amounted to USD 3.12 billion through 157 deals, while in the corresponding period last year there were 115 such transactions worth USD 2.12 billion.
"Private equity witnessed a 47 percent increase in values led by the billion dollar investment in Flipkart and 37 percent increase in volumes driven by the IT & ITeS sector with over 40 percent share in total deal volume," the report said.

There were several big ticket deals in the quarter. As many as 15 investments were over USD 50 million each, including two over USD 100 million and one billion dollar investment, the report said. In the third quarter of 2013 there were only nine investments worth over USD 50 million each.

Sectorwise, IT/ITES, mainly driven by e-commerce, dominated PE deal values and volumes and going forward the sectors that are expected to see renewed deal activity include infrastructure, energy, consumer and financial services.

"We expect valuations to go up given the renewed business sentiments which in our view, would be both a challenge and an opportunity for dealmakers to close deals in the coming quarters," Grant Thornton India Partner Raja Lahiri said.

"We believe that this momentum of deal activity will continue to increase and we look forward to closing the year on a high note," Lahiri added.

PE investment so far in 2014 stood higher at USD 8.4 billion as against USD 7.8 billion in 2013, with 38 percent higher volumes in 2014 as compared to 2013, led by the technology sector.

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Hiranandani says no out-of-court settlement with Hirco Plc

In February last year, Hirco had sued Hiranandani and his daughter in a lower court in the Isle of Man, alleging they had committed fraud and other misconduct prior to their resignation as chairman and CEO of Hirco in 2010.

Niranajan Hiranandani, MD, Hiranandani Group has ruled out an out-of-court settlement with Hirco Plc.

Talking to CNBC-TV18, Hiranandani said they had a strong case against Hirco's USD 350 million claim.

In February last year, Hirco had sued Hiranandani and his daughter in a lower court in the Isle of Man, alleging they had committed fraud and other misconduct prior to their resignation as chairman and CEO of Hirco in 2010.

The lower court had ruled in Hirco's favour on the issue of jurisdiction in the case, and the verdict was upheld by the Isle of Man Appellate Court as well.

Hiranandani said: "We were looking for an adjudication that this jurisdiction should be India because the properties were in India of course the Isle of Man has rejected that, so the case will go in Isle of Man. It makes no difference whatsoever, we have an excellent case and they don't have a good case at all. We are absolutely right, we should be able to justify ourselves in the Isle of Man ultimately but we were looking that the jurisdiction would be India and only that is what we have lost - only the question of jurisdiction not the case."

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ONGC oil output jumps 10 percent

The nation's largest oil and gas producer wants to take advantage of multi-year low oil prices to aggressively acquire oil and gas fields in the US, Russia, Central Asia and Africa so as to meet its 20 million tons oil equivalent target from overseas assets by 2018.

In a turnaround, state-owned Oil and Natural Gas Corp ( ONGC ) has reported a 10 percent jump in crude oil production from its western offshore fields this fiscal, reversing the downward slide of past few years.

The nation's largest oil and gas producer wants to take advantage of multi-year low oil prices to aggressively acquire oil and gas fields in the US, Russia, Central Asia and Africa so as to meet its 20 million tons oil equivalent target from overseas assets by 2018.

"Crude oil production has risen from 285,642 barrels per day in April to over 315,000 bpd this month," ONGC Chairman and Managing Director Dinesh K Sarraf told PTI here.

Also read: ONGC on the hunt for overseas producing assets

ONGC, which had over the last few years seen output not matching targets, plans to quickly develop discovered fields to boost oil and gas production. "The more than 10 percent increase in output in current year is quiet an achievement for a company having old fields," he said.

Western offshore is the home for India's largest oil and gas field of Mumbai High and Bassein. It also has several smaller discoveries which ONGC has now tied up with main production system and begun producing.

Sarraf said the company will continue to focus on bringing newer fields into production as also arrest decline in ageing field through use of technology and interventions. It plans to develop a series of oil and gas discoveries in Daman offshore. About 8.5 million standard cubic meters per day of gas output is projected from the discoveries.

ONGC is also focused on bringing to production its major oil field in the KG-D5 block in Krishna Godavari basin by 2019.

The oil discovery in KG-DWN-98/2 or KG-D5, which sits next to Reliance Industries' KG-D6 block, will be the first large oil production from the east coast. The block also has 10 gas discoveries.

First gas from the block is planned for 2018 and first oil in 2019, he said.

While a bulk of ONGC's near 25 million tonnes crude oil production comes from western offshore and fields in states like Gujarat and Assam, KG-D5 will produce up to 90,000 barrels per day (4.5 million tonnes per annum) - the largest from any field on the east coast. ONGC will produce 17 million standard cubic meters per day of gas from the block.

On overseas acquisition, Sarraf said ONGC was looking at "the globe" for buying producing oil and gas fields.

ONGC stock price

On October 27, 2014, Oil and Natural Gas Corporation closed at Rs 394.75, down Rs 8.75, or 2.17 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 263.30.

The company's trailing 12-month (TTM) EPS was at Rs 26.72 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 14.77. The latest book value of the company is Rs 159.81 per share. At current value, the price-to-book value of the company is 2.47.

21.03 | 0 komentar | Read More

New York Life's PE funds invest Rs 50 cr in Adlabs

The funding is part of the pre-IPO placement offering committed by investors in the IPO documents filed with Sebi this May, the company said.

The Manmohan Shetty-promoted Adlabs Entertainment, which operates theme and water parks, today said it has received Rs 50-crore funding from New York Life Insurance-run PE funds Jacob Ballas India Holdings IV and Jacob Ballas Capital India.

The funding is part of the pre-IPO placement offering committed by investors in the IPO documents filed with Sebi this May, the company, which runs Adlabs Imagica theme park and Aquamagica water park near here, said.

Adlabs Imagica, located around 100km from here off the Mumbai-Pune Expressway, became operational last year, while Aquamagica, situated nearby, was launched recently. Adlabs is expected to open a hotel by next January.

Commenting on the development, Shetty, the film producer- turned-entrepreneur, said "with this funding Adlabs will continue on the journey to build a suite of first-of-its-kind entertainment projects in the country. This is another step towards our planned IPO."

Bharat Bakhshi, Partner at Jacob Ballas Capital, said his fund is very enthused with the performance and potential of Imagica as a world class entertainment destination.

Centrum Capital acted a financial advisor to the transaction.

Established in 1845, New York Life Insurance Company is the largest mutual life insurance firm in the US. One of the largest life insurers in the world, it also owns New York Life Investment Management that has USD 544 billion in assets under management.

Jacob Ballas Capital is a leading India-focused investment advisory firm. It serves as advisors to investment managers of three India-focused private equity funds with over USD 600 million under management.

21.03 | 0 komentar | Read More

Alstom bags euro 85 mn contract from DMRC for Kochi Metro

Alstom Metropolis is a world leading train that serves global cities including Singapore, Sao Paulo, Shanghai and Amsterdam with more than 10 years of operational experience. The company said it has sold more than 4,000 metropolis cars worldwide.

Global rail infrastructure and power generation firm Alstom today said it has won a euro 85 million (Rs 671.5-crore) contract from Delhi Metro Rail C poration (DMRC) for supply of 25 metro sets to Kochi Metro Rail Ltd (KMRL).

"Alstom has been awarded a contract worth euro 85 million from DMRC to supply 25 state-of-the-art metros to KMRL. The first train sets are expected to be delivered in early 2016," the company said in a statement. These metros will operate over the fully elevated new KMRL network which is 25.6 km long with 22 stations and are expected to carry upto 15,000 passengers per hour.

"Alstom will be in charge of the design, manufacturing, supply, installation, testing and commissioning of 25 additional metro sets," it said. Each train will comprise three cars, about 65 metre long and with a capacity to carry up to 975 passengers.

These cars will run at a maximum speed of 80 km per hour and will be fitted with air conditioning and passenger information systems for a high level of passenger comfort. They will be manufactured in the newly built facility of Sricity in Andhra Pradesh, India, the company said.

"This is our second metro contract in the country after Chennai. It conforms our committment to provide competitive, innovative and high value products and solutions for our customers while serving the ever growing urban transportation market in India," said Dominique Pauliquen, Senior Vice President, Alstom Transport, Asia Pacific.

Alstom Metropolis is a world leading train that serves global cities including Singapore, Sao Paulo, Shanghai and Amsterdam with more than 10 years of operational experience. The company said it has sold more than 4,000 metropolis cars worldwide.

Alstom's Sricity manufacturing site is the company's flagship facility.

21.03 | 0 komentar | Read More

Online Amazon shopping, Jet Air booking now easy via RuPay

RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards.

After Flipkart, home-grown payments gateway RuPay has tied up with Amazon and one of the largest carriers  Jet Airways . With this, the RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards said in a statement today.

"Acceptance on Amazon is a breakthrough for us. We are glad to offer a wider horizon to our cardholders to transact online. Also, our integration with Jet Airways will definitely
benefit our cardholders,," says NPCI managing director AP Hota said. Commenting on the tie-up, Amazon India general manager for payments Srinivas Rao said, the arrangement is in line with its strategy of offering the widest set of customers a variety of payment options that will enhance their shopping experience.

The NPCI had last week announced that it has tied up with Flipkart, Snapdeal and LIC who are among over 15,000 merchants who will be accepting the RuPay cards, which are the
homegrown alternative to foreign gateways like Visa and MasterCard. Following the tie-up Jet Airways has begun accepting RuPay cards on their site for air-ticketing, airlines' senior vice-president Gaurang Shetty said.

NPCI has already issued more than 30 million RuPay cards, which are accepted at all ATMs, and by 9.8 lakhs POS terminals and over 15000 online merchants. The domestic online retail industry, as per a Crisil report, is expected to touch Rs 50,400 crore by FY16 from Rs 1,500 crore in FY08.

According to online industry body IAMAI, travel has emerged out as the most transacted segment in the online space accounting for 60 percent of online payments. The value of
online payments for travel industry stood at Rs 50,000 crore in FY13.

Jet Airways stock price

On October 23, 2014, Jet Airways closed at Rs 233.95, up Rs 1.25, or 0.54 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.19.

21.04 | 0 komentar | Read More

Maruti's Guj plant: LIC, MFs say awaiting shareholders meet

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Domestic financial institutions led by state-owned LIC and mutual funds , who together hold
around 21.3 percent in  Maruti Suzuki , are likely to firm up their stance after the auto major's shareholders meeting next month about its plans to set up a car plant in Gujarat as a
fully-owned subsidiary of its Japanese parent.

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Ever since Maruti's Japanese parent announced its plans to set up an assembly line Gujarat as its fully-owned subsidiary eight months ago, the minority investors were up in
arms, as they feared that Suzuki would later make Maruti just a contract manufacturer and not full-fledged car company. 

"We are yet to take a call on the issue," an LIC official said, and pointed out that it's too early and the company is yet to get its shareholders nod. On the other hand, mutual fund houses are divided on the issue. They feel that why should the company not set up its own plant, rather than setting up it through a subsidiary whose future is uncertain.

Maruti Suzuki will meet its shareholders at an extraordinary general body meeting next month to secure their approval for the project. The company needs to secure the
permission of at least 75 percent shareholders for the investment in the plant.

"We haven't formed an opinion on Maruti Suzuki's move to set up its trading unit in Gujarat as of now and we will take a call at the Maruti shareholders meeting early November," a senior official of LIC told PTI requesting anonymity.

When asked if the LIC will go by the recommendation of proxy advisors, the official said, "it's wrong to believe that LIC will go by the advice of proxy advisors. Let me reiterate that we are yet to form an opinion on the issue."

The mutual fund houses are confused about what will be the future of the subsidiary once its 15-year agreement ends with Maruti Suzuki.

"We don't know what will happen to the subsidiary after 15 years when its agreement with Maruti-Suzuki comes to an end," CIO of a MF house said, adding, "we are currently
evaluating the company's plans before we finally come up with our own stand on the matter." 

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3164.60, down Rs 17.1, or 0.54 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.81. 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 4.56.

21.04 | 0 komentar | Read More

GreenCHILL: Affordable cooling system for dairy farms

Akash Agarwal co-founded New Leaf Dynamic Technologies with his father. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural & remote areas. This solution can refrigerate 500-1000 litres a milk in one go.

2

23-year-old Akash Agarwal conceptualised his start-up while still in his final year of college in the United States and co-founded New Leaf Dynamic Technologies with his father Anurag Agarwal. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural and remote areas this solution can refrigerate 500-1000 litres a milk in one go.

For more watch the accompanying video.

21.04 | 0 komentar | Read More

Daily Dump: Making wealth with waste!

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

For more watch the accompanying video.

21.04 | 0 komentar | Read More

Nissan to recall 9000 units of Micra, Sunny in India

The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata.

Japanese auto major Nissan is recalling 9,000 units of its compact car Micra and mid-sized sedan Sunny in India to replace defective airbags as part of a global recall.
 
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata.

"Nissan plans to begin notifying customers soon. Nissan dealers will replace the driver airbag inflator with a correctly manufactured part at no cost to the customers for parts or labour," a Nissan India spokesperson said.

The global recall of 2,60,000 units by the Japanese auto major affects models, including Note, March/Micra, Sunny/Almera/Versa, Patrol and Cube. These are affected by a driver airbag concern that Takata reported to Nissan, the company said.

Ever since auto industry body SIAM started voluntary vehicle recall for safety related issues in India in July 2012, over seven lakh vehicles have been recalled by various manufacturers including Maruti Suzuki , Mahindra & Mahindra , Toyota, Ford, Honda and General Motors.

Last month Maruti Suzuki India announced recall of 69,555 units of Dzire, Swift and Ritz models manufactured between March 2010 and August 2013 to repair wiring harness fitment.

In April this year, in one of the biggest vehicle recalls in India, Maruti Suzuki recalled 1,03,311 units Ertiga, Swift and DZire -- manufactured between November 12, 2013 and February 4, 2014 to replace faulty fuel filler neck.

Last year, General Motors India recalled over 1,10,000 units of its multi-utility vehicle Tavera to address emission and specification issues.

The government is in process of framing a mandatory recall policy that would entail penalties as part of the new Central Motor Vehicle Rules.

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3164.60, down Rs 17.1, or 0.54 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.81. 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 4.56.

21.04 | 0 komentar | Read More

Maruti's Guj plant: LIC, MFs say awaiting shareholders meet

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Domestic financial institutions led by state-owned LIC and mutual funds , who together hold
around 21.3 percent in  Maruti Suzuki , are likely to firm up their stance after the auto major's shareholders meeting next month about its plans to set up a car plant in Gujarat as a
fully-owned subsidiary of its Japanese parent.

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Ever since Maruti's Japanese parent announced its plans to set up an assembly line Gujarat as its fully-owned subsidiary eight months ago, the minority investors were up in
arms, as they feared that Suzuki would later make Maruti just a contract manufacturer and not full-fledged car company. 

"We are yet to take a call on the issue," an LIC official said, and pointed out that it's too early and the company is yet to get its shareholders nod. On the other hand, mutual fund houses are divided on the issue. They feel that why should the company not set up its own plant, rather than setting up it through a subsidiary whose future is uncertain.

Maruti Suzuki will meet its shareholders at an extraordinary general body meeting next month to secure their approval for the project. The company needs to secure the
permission of at least 75 percent shareholders for the investment in the plant.

"We haven't formed an opinion on Maruti Suzuki's move to set up its trading unit in Gujarat as of now and we will take a call at the Maruti shareholders meeting early November," a senior official of LIC told PTI requesting anonymity.

When asked if the LIC will go by the recommendation of proxy advisors, the official said, "it's wrong to believe that LIC will go by the advice of proxy advisors. Let me reiterate that we are yet to form an opinion on the issue."

The mutual fund houses are confused about what will be the future of the subsidiary once its 15-year agreement ends with Maruti Suzuki.

"We don't know what will happen to the subsidiary after 15 years when its agreement with Maruti-Suzuki comes to an end," CIO of a MF house said, adding, "we are currently
evaluating the company's plans before we finally come up with our own stand on the matter." 

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3164.60, down Rs 17.1, or 0.54 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.81. 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 4.56.

21.03 | 0 komentar | Read More

GreenCHILL: Affordable cooling system for dairy farms

Akash Agarwal co-founded New Leaf Dynamic Technologies with his father. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural & remote areas. This solution can refrigerate 500-1000 litres a milk in one go.

2

23-year-old Akash Agarwal conceptualised his start-up while still in his final year of college in the United States and co-founded New Leaf Dynamic Technologies with his father Anurag Agarwal. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural and remote areas this solution can refrigerate 500-1000 litres a milk in one go.

For more watch the accompanying video.

21.03 | 0 komentar | Read More

Daily Dump: Making wealth with waste!

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

For more watch the accompanying video.

21.03 | 0 komentar | Read More

Online Amazon shopping, Jet Air booking now easy via RuPay

RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards.

After Flipkart, home-grown payments gateway RuPay has tied up with Amazon and one of the largest carriers  Jet Airways . With this, the RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards said in a statement today.

"Acceptance on Amazon is a breakthrough for us. We are glad to offer a wider horizon to our cardholders to transact online. Also, our integration with Jet Airways will definitely
benefit our cardholders,," says NPCI managing director AP Hota said. Commenting on the tie-up, Amazon India general manager for payments Srinivas Rao said, the arrangement is in line with its strategy of offering the widest set of customers a variety of payment options that will enhance their shopping experience.

The NPCI had last week announced that it has tied up with Flipkart, Snapdeal and LIC who are among over 15,000 merchants who will be accepting the RuPay cards, which are the
homegrown alternative to foreign gateways like Visa and MasterCard. Following the tie-up Jet Airways has begun accepting RuPay cards on their site for air-ticketing, airlines' senior vice-president Gaurang Shetty said.

NPCI has already issued more than 30 million RuPay cards, which are accepted at all ATMs, and by 9.8 lakhs POS terminals and over 15000 online merchants. The domestic online retail industry, as per a Crisil report, is expected to touch Rs 50,400 crore by FY16 from Rs 1,500 crore in FY08.

According to online industry body IAMAI, travel has emerged out as the most transacted segment in the online space accounting for 60 percent of online payments. The value of
online payments for travel industry stood at Rs 50,000 crore in FY13.

Jet Airways stock price

On October 23, 2014, Jet Airways closed at Rs 233.95, up Rs 1.25, or 0.54 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.19.

21.03 | 0 komentar | Read More

Nissan to recall 9000 units of Micra, Sunny in India

The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata.

Japanese auto major Nissan is recalling 9,000 units of its compact car Micra and mid-sized sedan Sunny in India to replace defective airbags as part of a global recall.
 
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata.

"Nissan plans to begin notifying customers soon. Nissan dealers will replace the driver airbag inflator with a correctly manufactured part at no cost to the customers for parts or labour," a Nissan India spokesperson said.

The global recall of 2,60,000 units by the Japanese auto major affects models, including Note, March/Micra, Sunny/Almera/Versa, Patrol and Cube. These are affected by a driver airbag concern that Takata reported to Nissan, the company said.

Ever since auto industry body SIAM started voluntary vehicle recall for safety related issues in India in July 2012, over seven lakh vehicles have been recalled by various manufacturers including Maruti Suzuki , Mahindra & Mahindra , Toyota, Ford, Honda and General Motors.

Last month Maruti Suzuki India announced recall of 69,555 units of Dzire, Swift and Ritz models manufactured between March 2010 and August 2013 to repair wiring harness fitment.

In April this year, in one of the biggest vehicle recalls in India, Maruti Suzuki recalled 1,03,311 units Ertiga, Swift and DZire -- manufactured between November 12, 2013 and February 4, 2014 to replace faulty fuel filler neck.

Last year, General Motors India recalled over 1,10,000 units of its multi-utility vehicle Tavera to address emission and specification issues.

The government is in process of framing a mandatory recall policy that would entail penalties as part of the new Central Motor Vehicle Rules.

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3164.60, down Rs 17.1, or 0.54 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.81. 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 4.56.

21.03 | 0 komentar | Read More

Daily Dump: Making wealth with waste!

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

For more watch the accompanying video.

21.03 | 0 komentar | Read More

BreatheEasy: Technology to produce fresh air

WHO has branded New Delhi, the capital of India, as the world's most polluted city and the air pollution worsens around this time of the year every single year. Young Turks' first venture comes as a breath of fresh air quite literally. Barun Aggarwal's BreatheEasy combines technology with nature to improve the indoor air quality we breathe.

The World Health Organization (WHO) has branded New Delhi, the capital of India, as the world's most polluted city and the air pollution worsens around this time of the year every single year. Young Turks' first venture comes as a breath of fresh air quite literally. Barun Aggarwal's BreatheEasy combines technology with nature to improve the indoor air quality we breathe.

For more watch the accompanying video.

21.03 | 0 komentar | Read More

GreenCHILL: Affordable cooling system for dairy farms

Akash Agarwal co-founded New Leaf Dynamic Technologies with his father. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural & remote areas. This solution can refrigerate 500-1000 litres a milk in one go.

2

23-year-old Akash Agarwal conceptualised his start-up while still in his final year of college in the United States and co-founded New Leaf Dynamic Technologies with his father Anurag Agarwal. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural and remote areas this solution can refrigerate 500-1000 litres a milk in one go.

For more watch the accompanying video.

21.03 | 0 komentar | Read More

Maruti's Guj plant: LIC, MFs say awaiting shareholders meet

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Domestic financial institutions led by state-owned LIC and mutual funds , who together hold
around 21.3 percent in  Maruti Suzuki , are likely to firm up their stance after the auto major's shareholders meeting next month about its plans to set up a car plant in Gujarat as a
fully-owned subsidiary of its Japanese parent.

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Ever since Maruti's Japanese parent announced its plans to set up an assembly line Gujarat as its fully-owned subsidiary eight months ago, the minority investors were up in
arms, as they feared that Suzuki would later make Maruti just a contract manufacturer and not full-fledged car company. 

"We are yet to take a call on the issue," an LIC official said, and pointed out that it's too early and the company is yet to get its shareholders nod. On the other hand, mutual fund houses are divided on the issue. They feel that why should the company not set up its own plant, rather than setting up it through a subsidiary whose future is uncertain.

Maruti Suzuki will meet its shareholders at an extraordinary general body meeting next month to secure their approval for the project. The company needs to secure the
permission of at least 75 percent shareholders for the investment in the plant.

"We haven't formed an opinion on Maruti Suzuki's move to set up its trading unit in Gujarat as of now and we will take a call at the Maruti shareholders meeting early November," a senior official of LIC told PTI requesting anonymity.

When asked if the LIC will go by the recommendation of proxy advisors, the official said, "it's wrong to believe that LIC will go by the advice of proxy advisors. Let me reiterate that we are yet to form an opinion on the issue."

The mutual fund houses are confused about what will be the future of the subsidiary once its 15-year agreement ends with Maruti Suzuki.

"We don't know what will happen to the subsidiary after 15 years when its agreement with Maruti-Suzuki comes to an end," CIO of a MF house said, adding, "we are currently
evaluating the company's plans before we finally come up with our own stand on the matter." 

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3164.60, down Rs 17.1, or 0.54 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.81. 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 4.56.

21.03 | 0 komentar | Read More

Online Amazon shopping, Jet Air booking now easy via RuPay

RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards.

After Flipkart, home-grown payments gateway RuPay has tied up with Amazon and one of the largest carriers  Jet Airways . With this, the RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards said in a statement today.

"Acceptance on Amazon is a breakthrough for us. We are glad to offer a wider horizon to our cardholders to transact online. Also, our integration with Jet Airways will definitely
benefit our cardholders,," says NPCI managing director AP Hota said. Commenting on the tie-up, Amazon India general manager for payments Srinivas Rao said, the arrangement is in line with its strategy of offering the widest set of customers a variety of payment options that will enhance their shopping experience.

The NPCI had last week announced that it has tied up with Flipkart, Snapdeal and LIC who are among over 15,000 merchants who will be accepting the RuPay cards, which are the
homegrown alternative to foreign gateways like Visa and MasterCard. Following the tie-up Jet Airways has begun accepting RuPay cards on their site for air-ticketing, airlines' senior vice-president Gaurang Shetty said.

NPCI has already issued more than 30 million RuPay cards, which are accepted at all ATMs, and by 9.8 lakhs POS terminals and over 15000 online merchants. The domestic online retail industry, as per a Crisil report, is expected to touch Rs 50,400 crore by FY16 from Rs 1,500 crore in FY08.

According to online industry body IAMAI, travel has emerged out as the most transacted segment in the online space accounting for 60 percent of online payments. The value of
online payments for travel industry stood at Rs 50,000 crore in FY13.

Jet Airways stock price

On October 23, 2014, Jet Airways closed at Rs 233.95, up Rs 1.25, or 0.54 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.19.

21.03 | 0 komentar | Read More

Daily Dump: Making wealth with waste!

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

Poonam Bir Kasturi, Founder of Daily Dump, claims that a home typically in Indian city produces organic waste of half to 1.5 kilograms a day which works out to about 30 kilograms of waste a month and if composted, this waste can generate about 12 kilograms of compost every two months. She decided to bet big on it.

For more watch the accompanying video.

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BreatheEasy: Technology to produce fresh air

WHO has branded New Delhi, the capital of India, as the world's most polluted city and the air pollution worsens around this time of the year every single year. Young Turks' first venture comes as a breath of fresh air quite literally. Barun Aggarwal's BreatheEasy combines technology with nature to improve the indoor air quality we breathe.

The World Health Organization (WHO) has branded New Delhi, the capital of India, as the world's most polluted city and the air pollution worsens around this time of the year every single year. Young Turks' first venture comes as a breath of fresh air quite literally. Barun Aggarwal's BreatheEasy combines technology with nature to improve the indoor air quality we breathe.

For more watch the accompanying video.

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GreenCHILL: Affordable cooling system for dairy farms

Akash Agarwal co-founded New Leaf Dynamic Technologies with his father. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural & remote areas. This solution can refrigerate 500-1000 litres a milk in one go.

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23-year-old Akash Agarwal conceptualised his start-up while still in his final year of college in the United States and co-founded New Leaf Dynamic Technologies with his father Anurag Agarwal. It developed a prototype called GreenCHILL refrigerator system that uses farm waste as a source of energy targeting farmers in rural and remote areas this solution can refrigerate 500-1000 litres a milk in one go.

For more watch the accompanying video.

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Maruti's Guj plant: LIC, MFs say awaiting shareholders meet

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Domestic financial institutions led by state-owned LIC and mutual funds , who together hold
around 21.3 percent in  Maruti Suzuki , are likely to firm up their stance after the auto major's shareholders meeting next month about its plans to set up a car plant in Gujarat as a
fully-owned subsidiary of its Japanese parent.

While LIC is the single largest minority investor in the country's largest car maker with 6.8 percent holding, mutual funds hold around 6.53 percent and domestic financial institutions hold 7.95 percent.

Ever since Maruti's Japanese parent announced its plans to set up an assembly line Gujarat as its fully-owned subsidiary eight months ago, the minority investors were up in
arms, as they feared that Suzuki would later make Maruti just a contract manufacturer and not full-fledged car company. 

"We are yet to take a call on the issue," an LIC official said, and pointed out that it's too early and the company is yet to get its shareholders nod. On the other hand, mutual fund houses are divided on the issue. They feel that why should the company not set up its own plant, rather than setting up it through a subsidiary whose future is uncertain.

Maruti Suzuki will meet its shareholders at an extraordinary general body meeting next month to secure their approval for the project. The company needs to secure the
permission of at least 75 percent shareholders for the investment in the plant.

"We haven't formed an opinion on Maruti Suzuki's move to set up its trading unit in Gujarat as of now and we will take a call at the Maruti shareholders meeting early November," a senior official of LIC told PTI requesting anonymity.

When asked if the LIC will go by the recommendation of proxy advisors, the official said, "it's wrong to believe that LIC will go by the advice of proxy advisors. Let me reiterate that we are yet to form an opinion on the issue."

The mutual fund houses are confused about what will be the future of the subsidiary once its 15-year agreement ends with Maruti Suzuki.

"We don't know what will happen to the subsidiary after 15 years when its agreement with Maruti-Suzuki comes to an end," CIO of a MF house said, adding, "we are currently
evaluating the company's plans before we finally come up with our own stand on the matter." 

Maruti Suzuki stock price

On October 23, 2014, Maruti Suzuki India closed at Rs 3167.60, down Rs 14.1, or 0.44 percent. The 52-week high of the share was Rs 3195.00 and the 52-week low was Rs 1484.20.

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 32.84. 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 4.56.

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Online Amazon shopping, Jet Air booking now easy via RuPay

RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards.

After Flipkart, home-grown payments gateway RuPay has tied up with Amazon and one of the largest carriers  Jet Airways . With this, the RuPay debit card holders can now shop best deals on Amazon and book air tickets on Jet Airways, the Reserve Bank-promoted National Payment Corporation which issues the RuPay cards said in a statement today.

"Acceptance on Amazon is a breakthrough for us. We are glad to offer a wider horizon to our cardholders to transact online. Also, our integration with Jet Airways will definitely
benefit our cardholders,," says NPCI managing director AP Hota said. Commenting on the tie-up, Amazon India general manager for payments Srinivas Rao said, the arrangement is in line with its strategy of offering the widest set of customers a variety of payment options that will enhance their shopping experience.

The NPCI had last week announced that it has tied up with Flipkart, Snapdeal and LIC who are among over 15,000 merchants who will be accepting the RuPay cards, which are the
homegrown alternative to foreign gateways like Visa and MasterCard. Following the tie-up Jet Airways has begun accepting RuPay cards on their site for air-ticketing, airlines' senior vice-president Gaurang Shetty said.

NPCI has already issued more than 30 million RuPay cards, which are accepted at all ATMs, and by 9.8 lakhs POS terminals and over 15000 online merchants. The domestic online retail industry, as per a Crisil report, is expected to touch Rs 50,400 crore by FY16 from Rs 1,500 crore in FY08.

According to online industry body IAMAI, travel has emerged out as the most transacted segment in the online space accounting for 60 percent of online payments. The value of
online payments for travel industry stood at Rs 50,000 crore in FY13.

Jet Airways stock price

On October 23, 2014, Jet Airways closed at Rs 234.00, up Rs 1.30, or 0.56 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.19.

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BSE shareholders approve merger with United Stock Exchange

The two exchanges had agreed to merge with each other in May this year. BSE held around 14.56 per cent stake in USE, which has over two dozen other shareholders.

The Bombay Stock Exchange (BSE) today said majority of its equity shareholders approved its proposed merger with United Stock Exchange of India Ltd (USE). The proposed scheme of amalgamation between USE and BSE Ltd and their respective shareholders and creditors was approved by the requisite majority of the equity shareholders of BSE in the court-convened meeting held on October 20, the exchange said in a statement here.

BSE and USE will now be filing necessary petitions before the Bombay High Court seeking its sanction to the proposed scheme. The two exchanges had agreed to merge with each other in May this year. BSE held around 14.56 per cent stake in USE, which has over two dozen other shareholders.

The Competition Commission of India (CCI) and the Securities and Exchange Board of India (SEBI) have already given their approval to the proposed scheme of amalgamation. USE received licence from SEBI on March 26, 2010, is one of the four recognised stock exchanges in the country operating specifically in the currency derivatives segment. USE represents the commitment of 26 public and private sector banks and allows trading in four currency pairs -USD-INR, EUR-INR, GBP-INR and JPY-INR USE.

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Sales momentum in white goods continues: Voltas, Whirlpool

The sales in the run-up to this Diwali has been the highest in the last few years, says Shantanu Dasgupta, Vice President, Corporate Affairs & Strategy, Whirlpool . In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Dasgupta said Onam sales were marginally below expectations, but that has been more than offset by the current rush of buyers.

He said large towns and large format stores accounted for bulk of the growth, adding that proportion of first time buyers continued to be small. On the issue of stiff competition from e-tailers, Dasgupta said 95 percent of white goods sales were still happening through traditional brick and mortar stores.

Speaking in the same discussion, Pradeep Bakshi of  Voltas said the momentum in sales seen during the June quarter has continued in the September quarter as well. In the air conditioners segment, Voltas has grown by over 20 percent, Bakshi said.

Below is verbatim transcript of the discussion:

Q: What is the sense you are getting as far as the demand this festive season is concerned? Is it as good as it was a couple of years back?

Dasgupta: It has certainly improved. The run up to this Diwali as well as sales that we are seeing this week is far more positive than we have seen over the last two-three years when the slowdown took affect in 2011. So far it is positive and we hope that even few days after Diwali we will remain to be quite buoyant.

Q: When we spoke to you it was a day before Onam and you said that people are barely looking into the shops at that time and we should checkout with you after Diwali when the festival season formally ends. Can you give us a percentage? Both Voltas and Whirlpool had a scintillating first quarter in terms of air conditioners sales which probably was because of the slightly long go monsoon but would you say that this year is 25 percent better than last year?

Dasgupta: The first quarter results were a factor of good volume growth that came in after many quarters plus the impact of price increases is a good mix. So, there were several factors there.

Coming to Onam; it wasn't that good this year but there was a bit of trepidation with respect to how Diwali would go but they are in two different areas of the country and anyway we were expecting things to improve and indeed has.

Diwali has been far more positive than Onam in August and that bodes well for the future because it suggests that things are turning around as far as growth is concerned.

Q: How good has been your festive season sale? Your second quarter and third quarter will be 25 percent better than last year. Can you give us a number?

Bakshi: Having seen first quarter well, sales also have been good, in fact industry has gained a lot, it has been a double digit growth as far as air conditioners and consumer durable categories are concerned.

Most of the categories have grown in this period because of extended summer and also festival season has been looking quite promising, in fact festival season this time also coincided Diwali with the second summer in quite a few parts of the country, in west and south part of the country. So, all in all it has been gainful for us and we have been growing in fact.

Voltas is largely into air-conditioning segment and our growth has been more than 20 percent in this quarter and in both quarters growth has been more than 20 percent, so it's been quite a fabulous Diwali and if you were to compare it with last two-three years, traction this time has been pretty good over last two-three years.

Last two years Diwali was not so great, the sales as far as air-condition business was concerned and quite a few other consumer durable products were concerned but this time its been quite good and traction has been quite healthy for us.

Whirlpool stock price

On October 22, 2014, Whirlpool of India. closed at Rs 437.90, up Rs 18.25, or 4.35 percent. The 52-week high of the share was Rs 504.80 and the 52-week low was Rs 153.55.

The company's trailing 12-month (TTM) EPS was at Rs 12.32 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 35.54. The latest book value of the company is Rs 58.33 per share. At current value, the price-to-book value of the company is 7.51.

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Aim to boost sales; margins will remain under pressure: TBZ

"We have seen an improvement in walk- ins and pent up demand is also helping," Prem Hinduja, MD, Tribhovandas Bhimji Zaveri said.

We will try to attract customer with better quality designs

Prem Hinduja

MD

TBZ

In an interview to CNBC-TV18 Prem Hinduja, MD,  Tribhovandas Bhimji Zaveri (TBZ) shared about the latest happenings in the company in the wake of ongoing festive season and the way ahead.

He said that consumer sentiment has improved and the company has seen double-digit sales growth on last two auspicious occasions of Dusshera and Dhanteras. "We have seen an improvement in walk- ins and pent up demand is also helping," he added.

TBZ aims to boost sales and is likely to focus on discounts and special offers going ahead, he said. However, margins are likely to remain under pressure on account of this.

Also Read: Will expand after consumer sentiment improves, says TBZ

Below is the verbatim transcript of Prem Hinduja's interview to CNBC-TV18's Latha Venkatesh and Reema Tendulkar

Latha: Just tell us how the sales have been this weeding season?

A: I can only tell you that there has been an improvement in the overall consumer sentiment. We started with the improvement in the economy and stable government at the centre. The walk-ins have improved. There was lot of pent up demand which had built up in the system which needs to come out and which we have witnessed over last two auspicious occasions which took place very recently. One was Dussehra and the other was Guru Pushya Nakshatra last week.

We witnessed a double digit sales growth on year-on-year basis as compared to last year. Combined with the fact that there is a lot of pent-up demand which needs to come out and which is coming out, there is also stability in the gold price. Infact we have seen a price correction in dollar terms is almost about 30 percent as compared to last year. In rupee terms it is almost about 18 percent as compared to last year. So we are quite hopeful of a good growth this quarter as compared to last quarter of last year.

Latha: But you are also giving a lot of discounts on making charges, will your margins suffer?

A: We do expect a good amount of demand coming up and we are not unduly worried about the discount which we are offering on the making charges of both gold and diamond jewellery.

Reema: In the previous quarter your gross margins on both gold as well as studded jewellery declined so on gold I believe it stands 8.4 percent and on diamonds at 32.7 percent. Do you expect the pressure on your gross margins to sustain?

A: To add a word of caution although we are seeing improved walk-ins coming in, the consumer sentiment having improved but that is happening slowly and steadily. So the margins will remain under pressure. I cannot put a finger on a certain percentage as to what it will be for FY15 but they will always remain under pressure because the endeavour of the company or for any company would be to have growth which can come through increased sales. To achieve that increased sales at some point of time one has to offer discount or promotion schemes which do put pressure on the margin so be it.

As I mentioned there is also competition all around and if everybody else is going tactical in offering discounts. We cannot remain in isolation although we are very much design focused and we are quite sure that the customer who come to us they do not come to us just because we are offering them discounts, they come to us more because of trust factor and also the variety of designs which we offer them. We are all hopeful but at the same time yes I would say that we take it with a pinch of salt that margins will not be something extraordinary, they will remain under pressure for some more time to come.

Tribhovandas stock price

On October 22, 2014, Tribhovandas Bhimji Zaveri closed at Rs 163.90, up Rs 3.45, or 2.15 percent. The 52-week high of the share was Rs 222.80 and the 52-week low was Rs 122.30.

The company's trailing 12-month (TTM) EPS was at Rs 5.22 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 31.4. The latest book value of the company is Rs 67.10 per share. At current value, the price-to-book value of the company is 2.44.

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HCL Tech bags multi-million dollar IT deal from De Beers

Leveraging its Enterprise of Future (EoF) offering, HCL will deliver end-to-end solutions including data centre operations, multi-lingual service desk, LAN management, security services, service management including tools, desk side support and project services to transform De Beers' IT infrastructure across the globe, it said in a statement.

Country's fourth largest software services firm  HCL Technologies has bagged a multi-million dollar IT infrastructure transformation deal from the De Beers Group of Companies, the world's leading diamond business, the company said today.

Leveraging its Enterprise of Future (EoF) offering, HCL will deliver end-to-end solutions including data centre operations, multi-lingual service desk, LAN management, security services, service management including tools, desk side support and project services to transform De Beers' IT infrastructure across the globe, it said in a statement.

HCL already manages the IT Infrastructure of Anglo American plc, the majority shareholder of De Beers.

The current deal allows a tighter integration across the two companies with common technology platforms and IT service management, it said.

"Where we have previously had several service providers in each local region, this agreement affords us more comprehensive management of our underlying IT environment and enables us to run a more industrialised infrastructure service
that underpins our broader IT strategy," De Beers Group Group CIO Craig Charlton said.

The engagement involves supporting De Beers' global presence in Botswana, Namibia, South Africa, the United Kingdom and elsewhere around the world, with HCL taking responsibility for eight data centres across five regions.

"This deal marks HCL's continued expansion in emerging markets like South Africa and many locations across Africa, Latin America and Asia. It further strengthens HCL's presence in the mining vertical," HCL Technologies ISD Executive Vice President and Head - EMEA Ashish Gupta said.

The scope of the work includes some extremely remote locations such as offshore diamond mining vessels along the Namibian coastline and Snap Lake mine in Canada, accessible only via ice roads in winter.

HCL established its South African operation in 2009.

HCL Tech stock price

On October 22, 2014, HCL Technologies closed at Rs 1513.20, up Rs 8.20, or 0.54 percent. The 52-week high of the share was Rs 1775.40 and the 52-week low was Rs 1034.00.

The company's trailing 12-month (TTM) EPS was at Rs 90.92 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 16.64. The latest book value of the company is Rs 145.92 per share. At current value, the price-to-book value of the company is 10.37.

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DLF-Sebi case: SAT adjourns hearing till Oct 30

Hit hard by a Sebi order barring it from capital markets, realty giant DLF  today appealed for an interim relief from the Securities Appellate Tribunal (SAT) to allow it to redeem thousands of crores worth funds locked in  mutual funds and other securities.

After hearing the petition, filed by the country's largest real estate developer last week, the Tribunal adjourned the matter till October 30 next week, as it sought a response from capital markets regulator Sebi on DLF's plea for an interim relief.

Seeking an interim relief, DLF said that it needs to redeem funds, including around Rs 2,000 crore locked in mutual funds as also through redemption of certain bonds worth further thousands of crores of rupees, but the Sebi order has restrained its position to access capital.

Last month itself, DLF had received shareholdes' approval to raise up to Rs 5,000 crore through non-convertible debentures (NCDs).

An intervention petition was also filed at SAT by Kimsuk Sinha, on whose complaint the Delhi High Court had directed Sebi to probe the case. However, Sinha's plea was opposed vehemently by DLF counsel and the petition was not admitted.

Earlier this month, Sebi barred DLF and six others from capital markets for three years for "active and deliberate suppression" of material information at the time of its IPO over seven years ago.

DLF's initial public offer in 2007 had fetched Rs 9,187 crore -- the biggest IPO in the country at that time. While the regulator did not impose any monetary penalty, the prohibition has barred DLF and the six persons, from any sale, purchase or any other dealings in securities markets for a period of three years, including for raising funds.

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

DLF had debt of over Rs 19,000 crore as on June 30, 2014, while its already-proposed fund raising plans include Rs 3,500 crore through issue of certain bonds to replace costlier debt.

It has annual turnover of nearly Rs 10,000 crore.

In his 43-page order, Sebi's Whole-Time Member Rajeev Agarwal had said the violations are grave and have larger implications on safety and integrity of the securities market.

Besides K P Singh, those barred from the markets include his son Rajiv Singh (Vice Chairman), daughter Pia Singh (Whole Time Director), Managing Director T C Goyal, former CFO Ramesh Sanka and Kameshwar Swarup, who was ED-Legal at the time of the company's public offer in 2007.

On October 13, DLF had said it has not violated any laws and it would defend its position against any adverse findings in the Sebi order. "DLF has full faith in the judicial process and is confident of vindication of its stand in the near future," the statement had said. 

DLF stock price

On October 22, 2014, DLF closed at Rs 120.25, down Rs 1.2, or 0.99 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 47.72. 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 1.29.

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Battle for MCFL set to escalate; Deepak raises stake to 32%

"We are in very comfortable position. Zuari and UB group still have edge over Deepak Fertilisers, but takeover battle for MCFL is not over," a top Zuari Group official.

Takeover battle for  MCFL is set to be further intensified as  Deepak Fertilisers has raised
its stake by about 6 per cent through an open offer to about 32 percent and inched closer towards the rival Zuari-UB group's combined stake. Deepak Fertilisers has acquired about 6 per cent stake, including 2.66 percent stake from Morgan Stanley and Karnataka State Cooperative Marketing Federation, in the open offer closed yesterday at a price of Rs 93.60 that, sources said.

Rival Zuari-UB group combine, which had offered the counter bid at Rs 81.60 per share, could only acquire 48,000 shares, sources added. Zuari-UB group holds 38.4 percent in MCFL. "We are in very comfortable position. Zuari and UB group still have edge over Deepak Fertilisers, but takeover battle for MCFL is not over," a top Zuari Group official told PTI. Both open offers were started on October 1 and closed on October 20.

The battle for MCFL between Deepak Fertilisers and Zuari Group was triggered in April 2013 when the latter bought about 10 percent stake in MCFL through open market. Later, Deepak Fertilisers acquired 24.46 percent stake in MCFL in one-go in July 2013. After this, Zuari group had increased its stake to 16.43 percent in the same month. The battle for control of Mangalore Chemicals heated up again after the Competition Commission of India (CCI) cleared an open offer launched by Zuari Group firms on September 4.

The CCI had cleared the open offer of Deepak Fertilisers on August 19. At present, Deepak Fertiliser holds 25.31 percent stake in Mangalore Chemicals and Fertilizers Ltd (MCFL), whereas consortium of Zuari group companies have 16.43 percent stake and Vijay Mallaya's UB group 21.97 percent stake. The Zuari group along with Vijay Mallaya's UB group needs about 12 percent additional stake in MCFL to take control of the company while at the same time Deepak Fertilisers would require another about 25 percent stake in the MCFL. Zuari Agro Chemicals had also entered into an agreement this year to use Mangalore Chemicals's facilities for contract production.

Deepak Fert stock price

On October 21, 2014, Deepak Fertilizers and Petrochemicals Coprn closed at Rs 157.60, down Rs 0.75, or 0.47 percent. The 52-week high of the share was Rs 185.05 and the 52-week low was Rs 99.80.

The company's trailing 12-month (TTM) EPS was at Rs 27.32 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 5.77. The latest book value of the company is Rs 169.05 per share. At current value, the price-to-book value of the company is 0.93.

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