Why today's market bounceback may not last

Indian equities snapped an eight-day correction, the longest since 2001, to rise about 1.85 percent today, as traders covered some of their short positions. But according to analysts, this may not be time for investors to look at equities afresh.

Indian equities snapped an eight-day correction, the longest since 2001, to rise about 1.85 percent today, as traders covered some of their short positions.

But according to analysts, this may not be time for investors to look at equities afresh.

"Unless corporate earnings see a meaningful sign of revival, which won't happen for one or two quarters, we don't believe there will be a significant bounceback in equities," Angel Broking's Mayuresh Joshi told CNBC-TV18.

In fact, if the March quarter earnings, which will start soon, are worse than already-muted expectations, or if there renewed global macro worries such as from Greece, Joshi said the markets could again start drifting lower.

Analyst Ambareesh Baliga agreed with the assessment. "We don't think the recent correction has ended. This bounceback may not last beyond a few days," he said.

According to Baliga, once earnings start trickling in, along with the flood of divestments the government has planned for PSU companies, it would keep pressure on the markets.

"We think the Nifty may head closer to 8,000," he said. "If you've bought during the recent decline, this bounceback is the time to sell."

"There is no way to say where this bounceback will stop," technical analyst Sudarshan Sukhani said. "But at some point it will stall."

Sukhani advised short-term traders to not carry overnight positions.

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MCX sells Rs 2.25cr warrants in MCX-SX to ILFS

The warrants were sold at Rs 2.50 per piece. The sale is subject to "applicable provision with respect to ownership of stock exchanges under Securities Contracts (Regulations) (Stock Exchanges and Clearing Corporations) Regulations, 2012," the filing noted.

Leading commodity bourse MCX  on Monday said it has sold 90,17,227 warrants worth Rs 2.25 crore in MCX-SX to IL&FS Financial Services. MCX, which currently has 4.14 percent equity stake in MCX-SX, is selling the warrants to comply with regulations. In a regulatory filing, MCX said it has sold as many as 90,17,227 warrants, which are convertible to equal number of equity shares of MCX-SX, to IF&FS.

The warrants were sold at Rs 2.50 per piece. The sale is subject to "applicable provision with respect to ownership of stock exchanges under Securities Contracts (Regulations) (Stock Exchanges and Clearing Corporations) Regulations, 2012," the filing noted.

With the acquisition, the shareholding of IF&FS in the MCX Stock Exchange would increase to around five percent, sources said.

After sale of these warrants, MCX would be holding about 58 crore warrants worth Rs 116 crore in the stock exchange, they said. The commodity bourse has to offload bulk of the warrants by June-end, they added. 

MCX India stock price

On March 30, 2015, Multi Commodity Exchange of India closed at Rs 1135.45, up Rs 11.75, or 1.05 percent. The 52-week high of the share was Rs 1289.40 and the 52-week low was Rs 483.00.

The company's trailing 12-month (TTM) EPS was at Rs 23.43 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 48.46. The latest book value of the company is Rs 258.07 per share. At current value, the price-to-book value of the company is 4.40.

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Jet Airways to expand code-sharing partnership with Etihad

Private carrier Jet Airways on Monday announced that it would expand its code-sharing partnership with Etihad to offer new destinations in North America, Europe and Australia to its customers.

Currently, the Naresh Goyal-promoted airline offers code-share flights from Abu Dhabi to New York (JFK), Chicago (ORD) and Washington DC, with Etihad. Code-sharing allows an airline to book its passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence.

Following the expansion, Jet Airways would place its 9W code on Etihad Airways flights from Abu Dhabi to San Francisco (SFO), Dallas/Fort Worth (DFW) and Los Angeles in the United States. Etihad holds 24 per cent stake in Jet Airways. The expansion of code-share options also includes Etihad Airways' proposed flights to Edinburgh, Zurich and Perth, Jet Airways said.

"The expansion of code-sharing will further strengthen our global network and provide a significant number of new and important destinations, particularly in the United States," Jet Airways chief executive Cramer Ball said.

As part of the expansion, Jet Airways would also operate code-share flights with Etihad from the Gulf airline's hub Abu Dhabi to Jaipur and Kolkata. In return, Etihad Airways will place its EY code on Jet Airways' flights from Ahmedabad to Abu Dhabi, the release said.

Ahmedabad is one of the three places from where Jet Airways had yesterday launched daily flight services to Abu Dhabi as part of its enhanced summer schedule. The airline also said its passengers travelling to the United States can avail the benefit of having pre-cleared US Customs and Border Protection at Abu Dhabi Airport.

The process allows passengers to pass through all required checks including US customs, immigration and security before they board their flight to the US, enabling them to avoid queues on arrival, it said.

Another key benefit of US pre-clearance is that baggage security screening meets United States Transport Security Administration standards, allowing passengers who connect onto a domestic flight in the US to have their baggage checked through from Abu Dhabi to their final destination.

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ICICI, HDFC Bank cut bulk deposit rates by up to 0.25%

The rates have been revised downwards for deposits over Rs 1 crore by 0.25 percent by ICICI Bank effective today, sources said. Fixed deposit rate of maturity between 121-150 days has been revised downward to 8 percent from 8.25 percent earlier.

Leading private sector lenders ICICI Bank  and HDFC Bank  have cut rates by up to 0.25 percent on high value fixed deposit on select maturities, a move that could be a precursor to lower lending rates.

The rates have been revised downwards for deposits over Rs 1 crore by 0.25 percent by ICICI Bank effective today, sources said. Fixed deposit rate of maturity between 121-150 days has been revised downward to 8 percent from 8.25 percent earlier.

Term deposit of the country's largest private lender between 61-90 days for high value fixed deposit over Rs 5 crore and above has been lowered to 8 percent from 8.25 percent.

Similarly, for term deposit between 91-120 days would attract lower interest rate of 8 percent. The second largest private sector lender, HDFC Bank too lowered its on fixed deposits of over Rs 5 crore and above effective yesterday.

Earlier this month, Axis Bank  reduced fixed deposit rates by up to 0.25 percent across various maturities. Axis Bank was one of the first major lenders to slash its deposit offering after RBI's repo cut on March 4.

The third largest private sector lender has cut its deposit rate offerings by 0.25 percent across buckets in the 18 to 36 months window, Axis Bank official said.

Similarly, for deposits up to 18 months, the rates have been decreased by 0.15 percent to 8.50 percent. With easing liquidity conditions and the low credit offtake, Axis Bank was among the few which cut its base rate or the minimum rate of lending in October last year by 0.10 percent.

It can be noted that the RBI indicated a shift in its stance after getting a grip over inflation and delivered a surprising 0.25 percent cut in January, and followed it up with a similar move on March 4, indicating its comfort with the Budget announcements.

Following these moves, the repo rate at which the central bank lends to the system, currently stands at 7.75 percent. While banks claim the policy moves generally take time to get transmitted into actual lending rates, the RBI has been unhappy with the banks for not passing the benefits of the rate cuts to the borrowers.

The country's largest lender, State Bank of India , has indicated that it would be very difficult to have a cut in lending rates till the end of March, which is generally the busy season for credit offtake. 

ICICI Bank stock price

On March 30, 2015, ICICI Bank closed at Rs 318.35, up Rs 3.95, or 1.26 percent. The 52-week high of the share was Rs 393.30 and the 52-week low was Rs 238.40.

The company's trailing 12-month (TTM) EPS was at Rs 18.81 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.92. The latest book value of the company is Rs 126.27 per share. At current value, the price-to-book value of the company is 2.52.

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Oricon buys 70% of Oriental Containers for Rs 105 crore

Oricon Enterprises has a consolidated turnover of nearly Rs 1,000 crore and is engaged through its subsidiaries in the business of marine logistics, packaging, automobile distribution and petrochemicals.

Oricon Enterprises , a group company of Parijat Enterprises, on Monday said it has acquired 70 percent shares of Oriental Containers Ltd from its joint venture partners OC Holding Ltd, Mauritius, for Rs 105 crore.

"We have acquired 70 percent shares of Oriental Containers Ltd from its joint venture partners OC Holding Ltd Mauritius at a consideration of Rs 105 crore, thereby making it a 100 percent subsidiary," Oricon Enterprises CFO B M Gaggar said in a statement here.

Oricon Enterprises has a consolidated turnover of nearly Rs 1,000 crore and is engaged through its subsidiaries in the business of marine logistics, packaging, automobile distribution and petrochemicals.

Further, it holds nearly three acres of land parcel in Worli (Mumbai), which is slated for development in the near future.

Oriental Containers is the largest manufacturer of a wide range of closures, which includes crowns, plastic beverages and water closures, ROPP Caps, chamfered caps, aluminium collapsible tubes and other packaging products at its manufacturing facilities in Maharashtra and Goa.

Oriental Containers supplies its products to various industries like beverages and water, FMCG, breweries and distilleries.

Leading customers include Pepsi, United Spirits, United Breweries, Heineken, Diageo, Bisleri, Unilever and others. The company's products are exported to more than 40 countries covering Asia, Middle East, Far East and the African continent. 

Oricon Ent stock price

On March 30, 2015, Oricon Enterprises closed at Rs 51.70, up Rs 3.55, or 7.37 percent. The 52-week high of the share was Rs 71.40 and the 52-week low was Rs 17.60.

The company's trailing 12-month (TTM) EPS was at Rs 0.43 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 120.23. The latest book value of the company is Rs 30.52 per share. At current value, the price-to-book value of the company is 1.69.

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RBI issues Draft Directions on Need to obtain Its Prior Approval for Acquisition/Transfer of Control of NBFCs

The Reserve Bank of India today released on its website, draft directions for Non-Banking Financial Companies (NBFCs) (Approval of Acquisition or Transfer of Control) Directions, 2015 seeking views/comments from all interested parties and general public. Suggestions and comments on the draft directions may be sent by April 15, 2015 to the Chief General Manager, Reserve Bank of India, Department of Non-Banking Regulation, 2nd Floor, World Trade Centre, Cuffe Parade, Mumbai-400005 or can be emailed by clicking here.

The draft has been proposed based on representations received from NBFCs and other industry participants and once issued, these will replace 'Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014' dated May 26, 2014 .

The final set of directions in the subject matter will be issued after receiving feedback, comments and suggestions on the draft directions.

Alpana Killawala
Principal Chief General Manager

Press Release : 2014-2015/2056

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Term Repo Auctions under Liquidity Adjustment Facility

As announced in the revised Liquidity Management Framework on August 22, 2014 , Reserve Bank will conduct regular 14 day term repos four times during a reporting fortnight. Accordingly, four term repo auctions will be conducted as per the schedule given hereunder:

Sl.No.	Date of Auction	Notified Amount (` Crore)	Tenor (days)	Date of Reversal
1	March 31, 2015 (Tuesday)	21,000	17	April 17, 2015 (Friday)
2	April 7, 2015 (Tuesday)	15,500	14	April 21, 2015 (Tuesday)
3	April 10, 2015 (Friday)	15,500	14	April 24, 2015 (Friday)
4	April 13, 2015 (Monday)	15,000	15	April 28, 2015 (Tuesday)

Further, as announced on March 19, 2015, Standalone Primary Dealers will be eligible to participate in the (i) 17 day term repo auction for a notified amount of ` 21,000 crore to be conducted between 9.30 am and 10.00 am (ii) 13 day term repo auction for a notified amount of ` 15,000 crore to be conducted between 11.00 am and 11.30 am, on March 31, 2015.

The auctions will be conducted as per the revised guidelines issued on February 13, 2014 . Successful bidders will get the allotment at their respective bids.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/2057

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Dalmia Cement starts trial production in Karnataka plant

Alstom bags 9 mn euro contract from Kochi metro French power equipment maker Alstom has bagged a contract worth 9 million euro from Delhi Metro Rail Corporation to execute the Kochi metro project.

Dalmia Cement (Bharat)  on Monday said it has commenced trial production in its 2.5 million tonne per annum (mtpa) greenfield facility in Karnataka. When commissioned the unit will take the group's capacity to 24 mtpa, consolidating its position in the country's cement industry further.

"Dalmia Cement (Bharat), a subsidiary of Dalmia Bharat Ltd has commenced its new cement plant of 2.5 mtpa at Belgaum, Karnataka on March 23, 2015 and has now started trial production," the company said in a BSE filing.

Shares of the company today settled at Rs 417.30 apiece, down 0.13 per cent in the BSE.  Alstom bags 9 mn euro contract from Kochi metro French power equipment maker Alstom has bagged a contract worth 9 million euro from Delhi Metro Rail Corporation to execute the Kochi metro project.

"Under this euro 9 million (approximately Rs 61.2 crore) contract, Alstom is in charge of the supply, installation, testing and commissioning of power transmission equipment," Alstom said in a statement.

Alstom is the main supplier of Kochi metro project. Earlier also, it had bagged orders for various equipment for the project. S C Ralhan elected new FIEO President * Exporters' body FIEO today said S C Ralhan has been elected as its new President.

Ralhan was previously the Regional Chairman (Northern Region) of Federation of Indian Export Organisations (FIEO) from the year 2013 till date. He is one of the leading exporters of North India with an experience of over four decades in the field of exports. He represents the Hand Tools sector of exports.

He was also the Regional Chairman of Engineering Export Promotion Council from 1998 to 2011. He has also been the President of Ludhiana Hand Tools Association since 1996. 

Dalmia Bharat stock price

On March 30, 2015, Dalmia Bharat closed at Rs 417.30, down Rs 0.55, or 0.13 percent. The 52-week high of the share was Rs 567.00 and the 52-week low was Rs 233.15.

The company's trailing 12-month (TTM) EPS was at Rs 4.01 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 104.06. The latest book value of the company is Rs 70.32 per share. At current value, the price-to-book value of the company is 5.93.

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Govt struggling its way to reach 4.1% FY15 deficit target

The central government has pulled out all stops in order to reach the 2014-15 fiscal deficit target of 4.1 percent it outlined in the Budget this year.

The central government has pulled out all stops in order to reach the 2014-15 fiscal deficit target of 4.1 percent it outlined in the Budget this year.

The government's struggle comes because of a Rs 45,000 crore fiscal gap it has witnessed this year due to a shortfall in tax revenues, spectrum proceeds and divestment receipts.

Out of this, about Rs 21,000 crore shortfall is due to tax shortfall while another big hole in the government's finances was created after the Supreme Court barred it from forcing telecom companies to pay part of the spectrum auction proceeds this year itself.

Sources have told CNBC-TV18 that the government has decided to not to relax the 15 percent March expenditure limit or the 33 percent January-March limit that it had set earlier. These are generally relaxed late into the year if the fiscal deficit target is close to being met.

However, sources further added that finance ministry officials are confident the government will be able to meet the target eventually.

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Tiger Global sheds 3.41% stake in Just Dial for Rs 300cr

According to bulk deal data available with the stock exchanges, Tiger Global sold a total of 24 lakh shares, amounting to 3.41 percent stake of Just Dial. The shares were offloaded on an average price of Rs 1,252.30 apiece valuing the transaction at Rs 300.55 crore, the data showed.

Private equity giant Tiger Global on Monday offloaded 3.41 percent stake in local search engine Just Dial  for over Rs 300 crore through an open market transaction.

According to bulk deal data available with the stock exchanges, Tiger Global sold a total of 24 lakh shares, amounting to 3.41 percent stake of Just Dial. The shares were offloaded on an average price of Rs 1,252.30 apiece valuing the transaction at Rs 300.55 crore, the data showed.

Tiger Global held 13.22 percent stake in the local search engine company at the end of December 31, 2014. Meanwhile, another private equity firm Goldman Sachs has picked up 19,40,098 shares of Just Dial for Rs 242.90 crore. Founded by V S S Mani, the company started offering local search services in 1996 under the Just Dial brand.

In November last year, Reserve Bank allowed the company to raise the foreign shareholding limit to a maximum of 75 percent of its paid-up capital under the portfolio investment scheme (PIS). Shares of Just Dial today grew by 0.84 percent to settle at Rs 1,319.70 apiece on the BSE.

Just Dial stock price

On March 30, 2015, Just Dial closed at Rs 1319.70, up Rs 10.95, or 0.84 percent. The 52-week high of the share was Rs 1894.70 and the 52-week low was Rs 983.10.

The company's trailing 12-month (TTM) EPS was at Rs 17.85 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 73.93. The latest book value of the company is Rs 75.85 per share. At current value, the price-to-book value of the company is 17.40.

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Sun-Ranbaxy deal gets final CCI nod; Emcure to buy 7 brands

In an order issued on Monday, CCI also approved the deal with Emcure, which would purchase the 'divestment products' that were ordered to be sold in an earlier direction issued in December last by the Competition Commission of India (CCI).

Sun Pharma  and Ranbaxy  have got approval from the Competition Commission for sale of seven brands to Emcure Pharma to comply with the fair trade watchdog's conditional nod for their USD 4-billion merger.

In an order issued on Monday, CCI also approved the deal with Emcure, which would purchase the 'divestment products' that were ordered to be sold in an earlier direction issued in December last by the Competition Commission of India (CCI).

These seven brands were at the core of the CCI's contention that the merger between Sun Pharmaceutical Industries and Ranbaxy Laboratories was 'prima-facie' in violation of competition laws and therefore the regulator had ordered divestment of those products under its 'conditional' approval to the deal.

Despite sale of these products, the merger would create India's largest and the world's fifth largest drugmaker. The 'conditional' approval was given by CCI on December 5, 2014 after a public scrutiny of the deal. Consequently, the two companies were asked to identify a purchaser for the seven brands to be divested.

As per the CCI order, Sun and Ranbaxy last month proposed to CCI that Emcure Pharmaceuticals Limited would purchase all 7 divestment products, following which the companies were asked to provide some further details and clarifications. CCI had also appointed PwC as a monitoring agency for the divestment process.

"The Commission considered the reports submitted by the Monitoring Agency and the Proposal along with all information submitted by the parties and Emcure, in order to assess whether Emcure meets the requirements laid down in the order and whether the APA (Asset Purchase Agreement) and the SA (Supply Agreement) proposed to be entered into by the Parties and Emcure, are in accordance with the provisions of the Order," CCI said.

The regulator said that it has found Emcure to be "a company active in the sales and marketing of pharmaceutical products in the India and has the financial resources, proven expertise, manufacturing capability or ability to outsource manufacturing and incentive to maintain and develop the Divestment Products, as a viable and active competitor to the Parties in the relevant market".

Accordingly, CCI has approved "Emcure as the Approved Purchaser of the Divestment Products". In December, CCI had directed Sun Pharma to divest all products containing 'Tamsulosin + Tolterodine' which are marketed and supplied under the Tamlet brand name.

Similarly, Ranbaxy was directed to divest all products containing Leuprorelin which are marketed and supplied under the Eligard brand name. It also had to divest products such as Terlibax, Rosuvas EZ, Olanex F, Raciper L and Triolvance. In April, 2014, Sun Pharma had announced it would acquire troubled rival Ranbaxy in a USD 4-billion deal that includes USD 800 million debt.

Shasun Pharma stock price

On March 23, 2015, Shasun Pharmaceuticals closed at Rs 344.40, up Rs 1.40, or 0.41 percent. The 52-week high of the share was Rs 373.70 and the 52-week low was Rs 67.70.

The company's trailing 12-month (TTM) EPS was at Rs 7.57 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 45.5. The latest book value of the company is Rs 52.55 per share. At current value, the price-to-book value of the company is 6.55.

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India ready to talk with EU on FTA: Nirmala Sitharaman

Negotiations for the proposed free trade agreement with the European Union may resume as India on Monday said that it is "ready to talk" with the EU on the pact.

No negotiation was held after both sides failed to bridge substantial gaps on crucial issues including data security status for the IT sector in May 2013.

"I have assured the EU ambassador and ambassadors of individual EU countries that we are ready to talk with the European community.

They have been our traditional trading partners," Commerce and Industry Minister Nirmala Sitharaman told reporters here. Launched in June 2007, the negotiations for the proposed Broad-based Trade and Investment Agreement (BTIA) between India and the 28-nation European bloc has witnessed many hurdles with both sides having major differences on crucial issues.

The two sides are yet to iron out issues related to tariffs and movement of professionals but the EU has shown an inclination to restart talks.

She said that the FTA has been delayed for a very long time and several rounds of negotiations were held, but did not reach any logical conclusion.

"This was stated by great concern and worry by the European community Ambassador...we did ask the Ambassador if their priority is till on an FTA with India, considering there is talk about Trans Atlantic partnership going on and the Ambassador said yes.

The EU is looking forward to having an FTA with India and talks would be encouraging.

"We readily accepted and therefore we certainly and definitely want to engage with the EU on that," she added.

The two-way commerce stood at USD 101.5 billion in 2013-14. Further responding to a question on an FTA with the customs union of Belarus, Kazakhstan and Russia, Commerce Secretary Rajeev Kher said the joint study group has been created for the proposed pact.

"The meetings are in the process. We expect that it should take about six months to complete the process of consultations and thereafter then on the basis of recommendations both sides will start working on negotiations for an FTA," Kher said.

Under the proposed Comprehensive Economic Cooperation Agreement (CECA), two sides aims to significantly reduce duties on the maximum number of tradable goods besides by liberalising norms for service and investments.

It also aims at facilitating movement of professionals.

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Issuance Calendar for Marketable Dated Securities for April-September 2015

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New system has more grey areas than abolished 5/20: AirAsia

The aviation space has been in focus with the government proposing to do away with the 5/20 rule. However, this puts new players into disadvantage. As per the proposal, new airlines will be allowed to fly international for over six hour flight. The new system also involves earning domestic flying credits that may give some protection to the existing airlines. Moreover, it also bars new airlines from flying to Gulf and Southeast Asia. For flying to these destinations, these airlines will need 600 DFCs (Digital Flying Credits).

In an interview to CNBC-TV18's Shereen Bhan, the board of AirAsia, including founder & group CEO Tony Fernandes, AirAsia India CEO Mittu Chandilya and Non-Executive Chairman S Ramodarai discuss on the new rules and ease of doing business in India.

Below is the transcript of S Ramodarai, Tony Fernandes & Mittu Chandilya's interview with Shereen Bhan on CNBC-TV18.

Q: You have spoken candidly in the past about the ease of doing business in India and this government has been talking about how it would like to improve the ease of doing business specifically on the 5/20 rule. The proposal now is to do away with 5/20 but to link international licenses to your ability to fly domestically and connect or improve domestic connectivity? Domestic credit is what the government is now talking about and maybe in the initial years you won't be even able to do the short-haul international route. You will possibly be able to do only the long-haul international route. How do you take this?

Fernandes: Obviously we are extremely disappointed. We saw this is an opportunity now to rationalise the Indian domestic aviation market, make it more like the rest of the world where there is no differentiation between international and domestic. We came in here to invest, to build, to create jobs, to bring tourist into India, to allow small-medium enterprise (SME) businessman to take their business outside of India. AirAsia has been a great facilitator for SME businessmen to move forward.

The new system is complicated and I am not sure it benefits the people of India but that's what we are seeing at the moment, the policy. We were hoping that the 5/20 rule would be abolished and that would allow Indian airlines, new airlines to compete on a level playing field. I think now you have a three tier system; you have incumbents who looking at it. I assume all the potential to do domestic and international short-haul and long-haul. You have foreign airlines that have an advantage over the new Indian airlines, so Emirates can fly in and fly out whenever they want to internationally yet airline such as ours are third division airline which is only allowed to operate domestically. So it's really disappointing. However, for me, I was so excited about coming in here, we have invested, we were more confident with the new government coming in that this is going to be a new beginning for Indian aviation.

Q: Does this alter your view on India; does this alter your expansion plans for the Indian market?

Fernandes: Yes, it will alter our expansion plans because of this law. I am still optimistic that common sense will prevail and if you put people first then the decision is very simple; compete and allow the best man to win. I have come from a free market. I had to compete with government airlines, state owned co-operations but if you look at the success of AirAsia in south East Asia coupled with other airlines, the people have benefited. We are phenomenally popular product in Malaysia, Thailand and Indonesia.

Q: As it stands today and this has become a contentious issue. We have seen back and forth on what to do with 5/20 for the last 24 months now if not longer but aggressively over the last 24 months specifically. What does this mean now as far as AirAsia's expansion in India is concerned? You have brought in your fourth aircraft, behind schedule; Vistara that launched in January has already brought in its sixth aircraft. Is this going to mean a more wait and watch approach as far as AirAsia India is concerned?

Chandilya: We have big ambitions. What we decided to do was instead of inducting planes in when the frequency that we had hope for and then having to change our network strategies, change bases, change locations that we fly to. We said let's take a pragmatic view and see how the regulations pan out.

Frankly it's very disappointing to see what has come out. Our view has always been the 5/20 needs to be abolished and abolished in its entirety without restrictions, without any kind of prohibitions or clauses. Unfortunately what is coming out now has a lot more grey area to it and has a lot more areas which would confuse and make it more complex for airlines to adhere to flying internationally. We still have our plans for growth but we are still looking at this policy.

Q: Would it be safe to assume that if this were to become the norm and this is of course pending cabinet approval but if this were to become the norm then we are looking at AirAsia India going slow as far as its expansion is concerned?

Chandilya: If you break it down, we have always had a plan to grow robustly within the domestic market but we are ambitious about going international and whole idea is that we want to -- as Tony just said give more Indians the ability to fly internationally, abroad, get them to places that they have never gone before and give people who have never flown an opportunity of flying.

Q: What about the domestic opportunity because you articulated that India is a size of a continent, the domestic opportunity is huge. Don't you believe that maybe it would make economic sense if you were to focus on domestic connectivity even with the international constraints being in place and that would perhaps serve you better?

Fernandes: There are two things here – (1) India is unique and (2) domestic fuel is much higher than international fuel. If you were to get rid of state taxes then again you level up the playing field. So we have so many different steps here and to compete effectively -- we are competing with one hand tied behind us when Indigo or Air India or Jet Airways has an ability to fly international, ability to hub and spoke and yet we are not able to compete.

Q: If this continues, would you review your investment decision for India, would you review being in India?

Fernandes: After this I would say we will fight. This industry cannot be controlled by one or two people. Yes, we may take a step backward now.

Q: But you still believe the vested interest at play. You don't believe that this is a government decision, a sound government thought through policy. You still believe that this is the rest of the industry ganging up against you and Vistara?

Fernandes: Yes 100 percent because look at the rest of the world. The vested interest has been able to convince that this is beneficial. We, Vistara and whoever else has to show that actually India benefits by more competition.

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Calendar for Auction of Government of India Treasury Bills

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Suzuki Gixxer SF to be launched in India on April 7, 2015

Building on the success of the Gixxer, Suzuki Motorcycles India is looking to add a new variant. The Suzuki Gixxer SF, the fully faired version of the Gixxer will be in showrooms from April 7, 2015. From the spy shots which are available on the Internet, it can be gleaned that the Gixxer SF is mechanically similar to the donor motorcycle, apart from the new clothes. A 155cc air-cooled 14.8PS engine is likely to be retained, however the top speed will be slightly north of the regular Gixxer's 107kmph, thanks tothe revised aerodynamics.... Read More

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Modern Singapore's founding father, Lee Kuan Yew is no more

Lee Kuan Yew, Singapore's first prime minister, died on Monday aged 91, triggering a flood of tributes to the man who oversaw the tiny city-state's rapid rise from a British colonial backwater to a global trade and financial centre.

US President Barack Obama described Lee, who ruled Singapore for three decades, as "a true giant of history" whose advice on governance and economic development had been sought by other world leaders down the years.

In his lifetime, Lee drew praise for his market-friendly policies but also criticism at home and abroad for his strict controls over the press, public protest and political opponents.

Lee had receded from public and political life over the past few years, but he was still seen as an influential figure in the government of Prime Minister Lee Hsien Loong, his eldest son.

"The first of our founding fathers is no more. He inspired us, gave us courage, and brought us here," a choked prime minister Lee said in a live television address on Monday. "To many Singaporeans, and indeed others too, Lee Kuan Yew was Singapore."

Lee died at 3:18 a.m. (1918 GMT) at Singapore General Hospital, where he had been admitted on Feb. 5 suffering from pneumonia.

The government has declared a period of national mourning until his funeral on Sunday. Lee's family will hold a private wake in the next two days, then his body will lie in state at parliament from Wednesday to Saturday.

Singaporeans had been bracing for the news for days, and a sea of flowers had already piled up at the hospital where he was being treated.

"I'm so sad. He is my idol. He's been so good to me, my family and everyone," said Lua Su Yean, 64. "His biggest achievement is that from zero he's built up today's Singapore."

Lee, a British-educated lawyer, is credited with building Singapore into one of the world's wealthiest nations on a per capita basis with a strong, pervasive role for the state and little patience for dissent.

He was unapologetic for the more draconian side to his leadership and clamping down fiercely on his opponents, saying it was essential for the country's security.

"We have to lock up people, without trial, whether they are communists, whether they are language chauvinists, whether they are religious extremists. If you don't do that, the country would be in ruins," he said in 1986.

Among other hardline measures, long hair for men was outlawed in the 1970s - the Bee Gees and Led Zeppelin cancelled gigs due to the ban - and chewing gum remains on the forbidden list today. Graffiti is punishable by caning.

"He managed to create a system out of chaos when Singapore was starting out," said Isaac Seow, 29, outside the hospital. "For me, his most defining trait was his iron will. Love him or hate him, he's got the job done."

A MODEL FOR OTHERS

Lee's leadership was seen as a model for many developing countries across the world, and politicians of all stripes said they took inspiration from his policies.

"Minister Mentor Lee's views and insights on Asian dynamics and economic management were respected by many around the world, and no small number of this and past generations of world leaders have sought his advice on governance and development," Obama said in a statement.

Thousands are expected to pay their respects at the Istana, which means palace in Malay and is the site of the prime minister's official residence, where a condolence book has been set up.

"My tears welled up as I received the sad news," said another former Singapore prime minister, Goh Chok Tong, who succeeded Lee. "He was my leader, mentor, inspiration, the man I looked up to most," Goh posted on Facebook.

Dozens of world leaders are expected to travel to the city-state for Lee's funeral, which will be held at the National University of Singapore.

"His place in history is assured, as a leader and as one of the modern world's foremost statesmen," Britain's Prime Minister David Cameron said in a statement.

"He was always a friend to Britain, if sometimes a critical one, and many British Prime Ministers benefited from his wise advice, including me."

STRAIGHT TALKING

"Harry" Lee became Singapore's first prime minister in 1959 and held onto power for 31 years, overseeing the island's transformation from a port city battling crime and poverty into one of Asia's most prosperous nations.

Even after stepping down as leader in 1990 - signing off as the world's then longest-serving prime minister - the acerbic Lee stayed on in the cabinet until 2011. He was a member of parliament until his death.

Lee, a fourth-generation Singaporean, co-founded the People's Action Party (PAP), which has ruled the city since 1959 and led the newly born country when it was separated from Malaysia in 1965.

He stepped down as prime minister in 1990, handing power to Goh Chok Tong, but remained influential as senior minister in Goh's cabinet and later as "minister mentor" when his son became prime minister in 2004.

23.08 | 0 komentar | Read More

NSEL scam: Top officials of brokerage firms granted bail

The three officials -- Amit Rathi, Director, Anand Rathi Commodities, Chintan Modi, VP, IIFL, and CP Krishnan, Wholetime Director, Geofin Comtrade, have been granted bail on condition that they will pay Rs 20 lakh as surety and also appear before the Mumbai EOW every Wednesday.

In a major relief to top three officials of brokerage firms, the Maharashtra Protection of Interest of Depositors (MPID) has granted bail to Amit Rathi and two top officials who were arrested by the Economic Offences Wing (EOW) of the Mumbai Police earlier this month, reports CNBC-TV18's Prerna Baruah.

The three officials -- Amit Rathi, Director, Anand Rathi Commodities, Chintan Modi, VP, IIFL, and CP Krishnan, Wholetime Director, Geofin Comtrade, have been granted bail on condition that they will pay Rs 20 lakh as surety and also appear before the Mumbai EOW every Wednesday. This is to ensure that the three accused assist the EOW officials with its ongoing probe against the officials in relation to the NSEL scam.

Rathi and the two other officials were arrested by Mumbai EOW on March 3 on charges that they indulged in circular trading, manipulated client codes rampantly and enticed NSEL investors with misleading information.

The MPID court has granted them bail as it believed that further custodial interrogation was not necessary. The EOW will chargesheet the three brokers but is not bound to file one within the stipulated time of 90 days. Even though the brokers have been granted bail, the EOW will continue its probe on their alleged role.

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SC verdict on validity of Section 66A of IT Act on Tuesday

The Supreme Court is likely to pronounce on Tuesday its verdict on a batch of petitions challenging constitutional validity of certain sections of the cyber law including a provision under which a person can be arrested for allegedly posting "offensive" contents on websites.

The Supreme Court is likely to pronounce on Tuesday its verdict on a batch of petitions challenging constitutional validity of certain sections of the cyber law including a provision under which a person can be arrested for allegedly posting "offensive" contents on websites.

A bench of justices J Chelameswar and R F Nariman had on February 26 reserved its judgement after Government concluded its arguments contending that section 66A of the Information Technology Act cannot be "quashed" merely because of the possibility of its "abuse".

Additional Solicitor General Tushar Mehta had said that the Government did not want to curtail the freedom of speech and expression at all which is enshrined in the Constitution, but the vast cyber world could not be allowed to remain unregulated.

However, the court had said that terms like 'illegal', 'grossly offensive' and 'menacing character' were vague expressions and these words were likely to be misunderstood and abused.

Some of the petitions seek setting aside of section 66A of the Information Technology Act which empowers police to arrest a person for allegedly posting offensive materials on social networking sites.

The first PIL on the issue was filed in 2012 by a law student Shreya Singhal, who sought amendment in Section 66A of the Act, after two girls -- Shaheen Dhada and Rinu Shrinivasan -- were arrested in Palghar in Thane district as one of them posted a comment against the shutdown in Mumbai following Shiv Sena leader Bal Thackeray's death and the other 'liked' it.

The apex court had on May 16, 2013, come out with an advisory that a person, accused of posting objectionable comments on social networking sites, cannot be arrested without police getting permission from senior officers like IG or DCP.

The direction had come in the wake of numerous complaints of harassment and arrests, sparking public outrage. It had, however, refused to pass an interim order for a blanket ban on the arrest of such persons across the country.

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Phaneesh Murthy launches health and lifecare venture

Last month, Murthy had said that all charges relating to a sexual misconduct case at US-based outsourcing firm iGate had been "settled".

Entering a new arena, former iGate CEO Phaneesh Murthy is launching an online market place for healthcare products and services in partnership with four professionals. Murthy on Monday announced launch of PM Health & Life Care Pvt Ltd which will start the online market place.

The first step in the venture will be an online market place which connects chemists and druggists with consumers, PM Health & Life Care said in a release.

The release said the family fund of Phaneesh Murthy has led the seed round of USD 3.2 million.

In the venture, Murthy is going to actively play the role as Executive Chairman, the company said, adding the venture plans to raise its first round of capital shortly bringing the total invested amount in the company to about USD 8-10 million.

One of the pioneers in Indian IT industry, Murthy has also worked with Infosys  in the past but his name surfaced in alleged sexual harassment cases at both the IT firms.

Last month, Murthy had said that all charges relating to a sexual misconduct case at US-based outsourcing firm iGate had been "settled".

Commenting on the new venture, Murthy, Co-Founder and Chairman of PMHLC, said, "The proposed health exchange is an innovative model, bringing technology as the great enabler for facilitating well-informed healthcare access."

"The health exchange meets the latent need of the consumers, clinics, hospitals, diagnostic centres and doctors to make quality healthcare accessible and efficient to a large population," he said. The company will only work with providers of goods and services who meet all regulatory and quality standards, the release said.

It said that the founding team includes Murthy as Chairman and Hemant Bhardwaj as CEO. Umesh Naidu will be Chief Operating Officer, Anil Bajpai be Chief Technology Officer and Harshit Singhal will be Chief Finance Officer and Head of Strategy, it added. 

Infosys stock price

On March 23, 2015, Infosys closed at Rs 2232.40, down Rs 26.55, or 1.18 percent. The 52-week high of the share was Rs 2335.20 and the 52-week low was Rs 1447.00.

The company's trailing 12-month (TTM) EPS was at Rs 104.69 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.32. The latest book value of the company is Rs 366.51 per share. At current value, the price-to-book value of the company is 6.09.

23.08 | 0 komentar | Read More

Mercedes to recall 1 lakh cars in China due to fire risk

The recall involves the CLS-Class and E-Class vehicles imported to China, as well as some E-Class cars manufactured by the Beijing Benz Automotive Company Limited, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said in a statement.

German luxury carmaker Mercedes-Benz will recall 1,27,071 cars in China starting due to a fire risk and steering issues, Beijing's quality watchdog said on Monday.

The recall involves the CLS-Class and E-Class vehicles imported to China, as well as some E-Class cars manufactured by the Beijing Benz Automotive Company Limited, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said in a statement.

The recall, effective from March 13, was issued after a sealing strip for the engine cabin was found coming loose in some vehicles, which could lead to an engine fire if the strip falls on hot engine parts, state-run Xinhua news agency reported.

Affected vehicles were manufactured between 2012 and 2014. Mercedes-Benz China and Beijing Benz will check them and replace defective parts free of charge.

The AQSIQ said in a separate statement on Monday that Mercedes-Benz China will also recall 705 of its G-Class luxury sport utility vehicles as of March 9 due to a steering problem. 

23.07 | 0 komentar | Read More

China state media targets Tata Motors-owned Land Rover

Tata Motors-owned Land Rover has fitted faulty gearboxes in its popular SUV brand Evoque vehicles in China, state media here has alleged.

Tata Motors -owned Land Rover has fitted faulty gearboxes in its popular SUV brand Evoque vehicles in China, state media here has alleged.

Owners of Evoque cars throughout China encountered malfunctions such as sudden stop while driving and faulty reverse gear, which re-happened soon after 4S stores changed the defective gearboxes with new ones for free, state-run Xinhua news agency quoted a CCTV consumer protection show as saying on Sunday.

The show coincided with the International Day for Protecting Consumers' Rights.

"The maintenance men at different Land Rover 4S stores could not tell what exactly made gearboxes out of order. The car owners were once required to upgrade the relative software, which was apparently good for nothing," the report said.

"The show exposed that Land Rover (China) denied the problems in gearbox and passed the buck to Chinese consumers, saying 'they drove too fast'," it said.

"CCTV's investigation result showed that Land Rover had found the problem long ago and issued confidential notices only to the company's engineers," the report alleged.

Tata's Jaguar Land Rover had launched the manufacturing of its popular brand Evoque sports utility vehicle (SUV) at its new factory in China's Changshu city last year. The company representatives could not be reached in China for a comment on the allegation.

Land Rover so far has not announced any recall of Evoque cars in China but what if any serious accident occurs or malfunctions appear after the car's warranty expires, the report said.

The average price of Evoque cars in China is over USD 100,000 but driving them has become "dangerous and horrible", it said. Volkswagen has started recalls of its vehicles after its faulty gearbox scandal was exposed in 2013, the report said. 

Tata Motors stock price

On March 16, 2015, Tata Motors closed at Rs 557.80, up Rs 0.75, or 0.13 percent. The 52-week high of the share was Rs 612.05 and the 52-week low was Rs 385.00.

The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company was 9.36.

23.07 | 0 komentar | Read More

Zee Media to raise Rs 195.55 cr via rights issue

The company board has approved "Letter of Offer for the proposed Rights issue of up to 1,08,643,732 Equity Shares of Re 1 each of the Company at the issue price of Rs 18 per Share (including premium of Rs 17 per Share) aggregating to Rs 195.55 crore," the company informed BSE.

Zee Media  on Monday said its right issue to raise Rs 195.55 crore from the open market would open on March 25.

The company board has approved "Letter of Offer for the proposed Rights issue of up to 1,08,643,732 Equity Shares of Re 1 each of the Company at the issue price of Rs 18 per Share (including premium of Rs 17 per Share) aggregating to Rs 195.55 crore," the company informed BSE.

The rights issue would close of April 08, it further informed.

Zee Media Corporation, formerly known as Zee News Ltd, is broadcasting 10 news channels including Zee News, Zee Business, Zee 24 Taas, Zee Sangam, Zee Marudhara and Zee Kalinga. Company shares closed at Rs 17.05 per share, down 1.73 percent, on the BSE.

Zee Media stock price

On March 16, 2015, Zee Media Corporation closed at Rs 17.05, down Rs 0.3, or 1.73 percent. The 52-week high of the share was Rs 24.35 and the 52-week low was Rs 13.15.

The company's trailing 12-month (TTM) EPS was at Rs 0.18 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 94.72. The latest book value of the company is Rs 6.47 per share. At current value, the price-to-book value of the company is 2.64.

23.07 | 0 komentar | Read More

Dubai tops New York, London for cars per person

The number of vehicles in Dubai has doubled over the past eight years giving the Gulf emirate more cars per person than New York or London, official figures showed on Monday.

The number of vehicles in Dubai has doubled over the past eight years giving the Gulf emirate more cars per person than New York or London, official figures showed on Monday.

The bustling city state now has 1.4 million vehicles for a population of 2.4 million, equivalent to 540 for every 1,000 people, according to the Roads and Transport Authority figures.

That compares with 305 vehicles per 1,000 people for New York and 213 per 1,000 for London.

The number of registered vehicles has risen from just 740,000 in 2006, an average annual increase of 8.2 percent.

If that trend continues, the number of vehicles registered could reach 2.2 million by 2020, when the emirate is due to host the five-yearly world trade fair, Expo.

Dubai has invested heavily in public transport infrastructure in recent years, opening a metro rail network in 2009 and the first phase of a tram network last year.

But car remains king and, despite massive road expansion projects, traffic jams are frequent.

23.07 | 0 komentar | Read More

BMW launches Mini Cooper S priced at Rs 34.65 lakh

"The new Mini Cooper S is furiously fun and ready to dominate the Indian streets like never before," BMW Group India President Philipp von Sahr said.

German car maker BMW on Monday launched Mini Cooper S luxury hatchback in India, priced at Rs 34.65 lakh (ex-showroom).

The new variant will be available at Mini dealerships across India as a completely built-up unit from on Monday onwards, BMW Group India said in a statement.

"The new Mini Cooper S is furiously fun and ready to dominate the Indian streets like never before," BMW Group India President Philipp von Sahr said.

The 3-door Mini Cooper S takes only 6.7 seconds to hit 100 km/hr mark and has a top speed of of 233 km/h. BMW had in November launched the Mini Cooper D 3-door and the Mini Cooper D 5-door in India.

The Mini three-door is now available in two variants: Mini Cooper S 3-door and Mini Cooper D 3-door.

In 2012, the BMW Group introduced Mini as a premium brand in India. Presently, the Mini model range in India includes the Mini Cooper S 3-door, Mini Cooper D 3-door, Mini Cooper D 5-door, Mini Convertible and Mini Countryman D.

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Select panel adopts draft report on Coal Bill: Govt sources

According to sources, the select panel recommendations with reference to labour payment issue will be part of the Bill.

The select panel report on the Coal Mining Bill is ready. Sources tell CNBC-TV18 that the report will be submitted Tuesday (March 17) with dissent notes from Congress and TMC.

According to sources, the select panel recommendations with reference to labour payment issue will be part of the Bill. The recommendations will include asking issues pertaining to existing mines and even norms related to coal regulator be clarified in the Bill.

Moreover, the Centre is also looking to extend the Budget Session by a week to push ahead with its legislative agenda.

23.07 | 0 komentar | Read More

Taj Mahal emerges as top Google Street View destination

Agra's tourist attraction Taj Mahal has emerged as the most popular in Asia for global 'virtual travellers', according to Google.

Agra's tourist attraction Taj Mahal has emerged as the most popular in Asia for global 'virtual travellers', according to Google.

"Taj Mahal has emerged as one of the most popular Asian places for global virtual travellers.

The fascination with this grand, symmetrical white marble mausoleum also holds within Asia, with the Taj Mahal ranking as one of the most globally viewed destinations by people in Singapore, Australia, Korea, Philippines, Malaysia and of course, India," a Google statement said.

"Last year, global virtual tourists had favoured Japan for its trails weaving up Mount Fuji, its colourful canal at Dotonbori and its secluded ruins at Hashima Island, as the most popular Google Street View destinations in Asia," it said.

Google Street View is a technology featured in Google Maps and Google Earth that provides panoramic views from positions along many streets in the world. Though Japan still attracts many of virtual tourists, cultural monuments and temples across the region are also taking centre stage, it said.

Other top Google Street View destinations in India include Red Fort, Qutub Minar, Agra Fort, Lavasa, Lovely Professional University, Humayun's Tomb, Shaniwar Wada, Jantar Mantar and IIT Bombay, the Google statement said.

23.07 | 0 komentar | Read More

Adlabs Entertainment IPO gets 60% subscription

Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park. Deutsche Equities India Private Limited, Centrum Capital Ltd and Kotak Mahindra Capital Company Ltd are the book running lead manager to the issue.

The initial share sale of theme park operator Adlabs Entertainment got subscribed 60 per cent a day ahead of the issue closure.

The issue for sale of 1,76,04,092 shares, received bids for 1,06,31,725 shares, or 60 per cent till 1700 hrs, as per data available with the National Stock Exchange today.

On Thursday, the IPO's price was lowered to Rs 180-215 from Rs 221-230 per share while the closure date was extended to March 17, amid tepid response from institutional investors.

The quota for qualified institutional investors received 53 per cent subscription, while that for non-institutional investors got subscribed 36 per cent.

Retail investors category was subscribed 1.11 times. Including the anchor investor portion, the sale is up to 20,326,227 equity shares.

This includes a fresh issue of 18,326,227 equity shares and an offer for sale of 20 lakh shares by promoter entity Thrill Park Limited.

Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park. Deutsche Equities India Private Limited,  Centrum Capital Ltd and Kotak Mahindra Capital Company Ltd are the book running lead manager to the issue.

23.07 | 0 komentar | Read More

EuroPacific Growth Fund buys 3 cr Idea shares for Rs 534 cr

As per data bulk deal data available with the stock exchanges, the fund has purchased a total of 30,157,849 shares of the telecom player. The shares were bought on an average price of Rs 178, valuing the transaction at Rs 536.80 crore.

EuroPacific Growth Fund on Monday picked up over three crore shares of  Idea Cellular for Rs 534 crore through an open market transaction.

As per data bulk deal data available with the stock exchanges, the fund has purchased a total of 30,157,849 shares of the telecom player. The shares were bought on an average price of Rs 178, valuing the transaction at Rs 536.80 crore.

Meanwhile, First Street Asia Pacific Fund has offloaded 2.13 crore shares of Idea Cellular for Rs 380.56 crore.

In September, EuroPacific Growth Fund had purchased 1.89 crore shares of Idea Cellular. Idea is the country's third largest telecom operator with 15.54 crore subscribers at the end of February.

It has a market share of 22.30 percent. The company, part of Aditya Birla Group, has a market value of Rs 62,313 crore. Idea Cellular stock settled at Rs 173.20, down 4.89 percent, on the BSE.

Idea Cellular stock price

On March 16, 2015, Idea Cellular closed at Rs 173.20, down Rs 8.9, or 4.89 percent. The 52-week high of the share was Rs 183.50 and the 52-week low was Rs 129.20.

The company's trailing 12-month (TTM) EPS was at Rs 6.88 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 25.17. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 3.93.

23.07 | 0 komentar | Read More

Unseasonal rains: States plan relief packages for farmers

The unseasonal rainfall is wreaking havoc on farmers across large parts of the country. The UP government has announced a Rs 200 crore relief package while the government's of Maharashtra and Rajasthan are assessing the crop damage. However consumers might have to brace themselves for higher vegetable prices, here's a report.

The unseasonal rainfall is wreaking havoc on farmers across large parts of the country. The UP government has announced a Rs 200 crore relief package while the government's of Maharashtra and Rajasthan are assessing the crop damage. However consumers might have to brace themselves for higher vegetable prices, here's a report.

23.07 | 0 komentar | Read More

ISL to introduce salary cap and player auction for clubs

The Indian Super League (ISL) will be introducing a player salary cap of Rs 20 crore for clubs for the upcoming second season of the franchise-based football tournament.

Football Sports Development Ltd (FSDL), the controlling body of ISL formed through a joint venture between IMG-Reliance and Star India, held its first Governing Council meeting here to review the inaugural season and present player guidelines for the next one.

As per the guidelines, besides the salary cap, each club "must have a minimum one marquee player" as part of its player retention policy.

Clubs are allowed to retain their marquee player from inaugural season or are free to sign one from open market with prior approval from the league. A club can retain a minimum of one and maximum of five international players.

Additionally, clubs are allowed to contract international players by themselves through the market directly.

As far as domestic players are concerned, a minimum of one and maximum of six can be retained by a club. Players who are not part of the retention list of clubs, can be signed by any ISL franchise in the open market until April. In case they are still without contract, such players will be listed in the domestic draft.

Regarding the size of squad, each club will have have a minimum of 22 players with mandatory two developmental ones.

Each team would consist of one marquee, eight international and 13 domestic players including the compulsory two under-23 developmental players. And about maximum size, a club can have a squad size of 25.

Additional quota of three players can have maximum two international players. ISL will have auction for Indian players, who have played in the senior national team but missed out on the inaugural season. Each club will be eligible to add only one such player from the auction list consisting of maximum 12 to 15.

Those not picked through auction will form part of the domestic players draft. An ISL spokesperson said, "The new set of rules are defined to encourage clubs in player retention, assist them in managing the player costs and provide a level playing field for each club to prepare for the second season with reasonable and broadly equitable chance of winning the ISL 2015. "The inaugural ISL had brought to fore many new faces of Indian football.

The league encourages the clubs to retain such players to help them build an identity and fan base." The Governing Council committee consist of all eight ISL participatory club representatives and officials from FSDL. 

23.08 | 0 komentar | Read More

Scintilla Comme standalone Dec '14 sales at Rs 0.45 crore

Dec '14 Sep '14 Dec '13 Net Sales/Income from operations 0.34 -- -- Other Operating Income 0.11 0.11 0.08 Total Income From Operations 0.45 0.11 0.08 EXPENDITURE Consumption of Raw Materials -- -- -- Purchase of Traded Goods -- 0.40 -- Increase/Decrease in Stocks 0.46 -0.40 -- Power & Fuel -- -- -- Employees Cost 0.02 0.02 0.02 Depreciation -- -- -- Excise Duty -- -- -- Admin. And Selling Expenses -- -- -- R & D Expenses -- -- -- Provisions And Contingencies -- -- -- Exp. Capitalised -- -- -- Other Expenses 0.07 0.06 0.01 P/L Before Other Inc. , Int., Excpt. Items & Tax -0.11 0.02 0.05 Other Income -- -- -- P/L Before Int., Excpt. Items & Tax -0.11 0.02 0.05 Interest -- -- -- P/L Before Exceptional Items & Tax -0.11 0.02 0.05 Exceptional Items -- -- -- P/L Before Tax -0.11 0.02 0.05 Tax 0.00 -- -- P/L After Tax from Ordinary Activities -0.11 0.02 0.05 Prior Year Adjustments -- -- -- Extra Ordinary Items -- -- -- Net Profit/(Loss) For the Period -0.11 0.02 0.05 Equity Share Capital 10.03 10.03 10.03 Reserves Excluding Revaluation Reserves -- -- -- Equity Dividend Rate (%) -- -- -- EPS Before Extra Ordinary Basic EPS -0.11 0.02 0.05 Diluted EPS -0.11 0.02 0.05 EPS After Extra Ordinary Basic EPS -0.11 0.02 0.05 Diluted EPS -0.11 0.02 0.05 Public Share Holding No Of Shares (Crores) 0.81 0.81 0.81 Share Holding (%) 81.19 81.19 81.19 Promoters and Promoter Group Shareholding a) Pledged/Encumbered - Number of shares (Crores) -- -- -- - Per. of shares (as a % of the total sh. of prom. and promoter group) -- -- -- - Per. of shares (as a % of the total Share Cap. of the company) -- -- -- b) Non-encumbered - Number of shares (Crores) 0.19 0.19 0.19 - Per. of shares (as a % of the total sh. of prom. and promoter group) 100.00 100.00 100.00 - Per. of shares (as a % of the total Share Cap. of the company) 18.81 18.81 18.81 Source : Dion Global Solutions Limited

23.08 | 0 komentar | Read More

DLF ties up with Snapdeal to sell flats online

DLF will offer on Snapdeal about 50 flats in eight housing projects across the country in a price range of Rs 34 lakh to Rs 3 crore. Customers of the country's largest realty player will be able to buy flats at Rs 30,000 booking amount on the Snapdeal.

With e-commerce business growing in India, realty major  DLF has tied-up with online market place Snapdeal to sell its apartments and would offer 1 percent discount to potential home buyers.

DLF will offer on Snapdeal about 50 flats in eight housing projects across the country in a price range of Rs 34 lakh to Rs 3 crore. Customers of the country's largest realty player will be able to buy flats at Rs 30,000 booking amount on the Snapdeal.

The offer is likely to start this week. These flats are in projects located at New Chandigarh, Panchkula, Lucknow, Bangalore, Chennai, Kochi and Kolkata. This is the first time DLF is having a tie-up with an e-commerce firm.

Earlier, Tata Housing had tied up with Google, Snapdeal, and Housing.com, while Puravankara had tied up with Google and realty portal 99 acres.com. Godrej Properties , too, had tied up with Snapdeal to offer online booking of its projects. "Digital marketing is fast emerging as the most cost efficient option to reach out to potential customers.

Over a period of time, our customer segment is getting younger and younger. They belong to the digital era. Therefore, from a distribution point of view, digital platforms are one of the important outlets," DLF Universal Executive Director - Sales & Marketing Ananta Singh Raghuvanshi said.

Stating that this is an innovative marketing tool, she said this tie-up would enable DLF to ensure a wider reach and also reach out to the vast NRI markets across the globe. DLF is planning to monetise properties worth about Rs 15,000 crore under various projects to boost its cash flow and reduce debt.

When contacted, Snapdeal spokesperson said: "Yes, we have entered into a partnership with DLF." Snapdeal would announcing range of offerings from DLF, which will be listed on the website shortly.

"Real Estate category on Snapdeal has seen a tremendous response from customers since its launch in August last year. The category has grown significant in the last six months and has exceeded all our expectations," the spokesperson said. Snapdeal aims to become the most trusted channel for customers to buy apartments online.

It has tied up with developers like Tata Value Homes, Godrej Properties and Kolte Patil among others.

DLF stock price

On March 09, 2015, DLF closed at Rs 150.85, down Rs 2.75, or 1.79 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 4.83 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 31.23. 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 1.62.

23.08 | 0 komentar | Read More

Govt admits to 'ideological differences' with PDP

Under attack over release of separatist Masarat Alam in Jammu and Kashmir, government today admitted to "ideological differences" between BJP and PDP and said it is ready to make any "sacrifice" for national integrity.

Home Minister Rajnath Singh asserted in Rajya Sabha that no one, howsoever powerful, will be allowed to play with the unity and integrity of the country as he sought to allay concerns of members over Alam's release. Singh, who made a statement and replied to clarifications, insisted that there was "no hidden agenda" in and the Centre has sought answers from the state government, in which BJP is a part, over the decision to release Alam.

"There is no doubt that there are ideological differeneces between BJP and PDP. We have never had any relationship with the PDP in the past. They are with us only for 10 days.

Whatever influence is there, it must be yours on them. You had been with them in power in past..," he told the Congress, which has had a coalition government with PDP in the state earlier. Asserting that Jammu and Kashmir was, is and will be an integral part of the country, the Home Minister said, "no one howsoever powerful will be allowed to play with the security, unity and integrity of India.

We are ready to give any sacrifice that is required." Singh said he was speaking on behalf of Prime Minister Narendra Modi who was present in the House as he insisted that there was "no hidden agenda" or behind the scene talks" over government formation in Jammu and Kashmir. There is "no question of any compromise with a traitor," he said. "Our agenda is never hidden.

Our agenda is always very open. We are not the one who operate behind curtains," he said as he described the meeting between Modi and Mufti Mohammed Sayeed ahead of government formation as "normal courtesy".

he Home Minister said as soon as Alam was released on Saturday, the Centre had sought clarification from the state government.

The response was not satisfactory and more clarifications have been sought, he said, adding "if need be, a stern advisory will be issued to the state government. Centre will not shy away from doing so".

Justifying the formation of government with PDP in the state, he said it was necessitated due a fractured mandate and BJP joined hands with an intent of ensuring that the state develops and flourishes.

Singh also shifted the blame on the previous Congress-NC government for not referring the matter of Alam's detention under the Public Safety Act in September 2014 to the Advisory Board and accused it of sitting over it for over three months.

"I want to assure the House that our government cannot make any compromise on public safety and public security. Our politics not only for government but for making nation," he said.

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Abhishek Finle standalone Dec '14 sales at Rs 0.06 crore

Dec '14 Sep '14 Dec '13 Net Sales/Income from operations 0.05 0.07 0.10 Other Operating Income 0.01 0.01 -- Total Income From Operations 0.06 0.08 0.10 EXPENDITURE Consumption of Raw Materials -- -- -- Purchase of Traded Goods 0.01 0.02 -- Increase/Decrease in Stocks -0.01 -0.01 -- Power & Fuel -- -- -- Employees Cost 0.02 0.02 -- Depreciation 0.01 0.01 0.01 Excise Duty -- -- -- Admin. And Selling Expenses -- -- -- R & D Expenses -- -- -- Provisions And Contingencies -- -- -- Exp. Capitalised -- -- -- Other Expenses 0.01 0.02 0.06 P/L Before Other Inc. , Int., Excpt. Items & Tax 0.02 0.01 0.03 Other Income -- -- -- P/L Before Int., Excpt. Items & Tax 0.02 0.01 0.03 Interest -- -- -- P/L Before Exceptional Items & Tax 0.02 0.01 0.03 Exceptional Items -- -- -- P/L Before Tax 0.02 0.01 0.03 Tax -- -- -- P/L After Tax from Ordinary Activities 0.02 0.01 0.03 Prior Year Adjustments -- -- -- Extra Ordinary Items -- -- -- Net Profit/(Loss) For the Period 0.02 0.01 0.03 Equity Share Capital 4.26 4.26 4.26 Reserves Excluding Revaluation Reserves -- -- -- Equity Dividend Rate (%) -- -- -- EPS Before Extra Ordinary Basic EPS 0.05 0.02 0.08 Diluted EPS 0.05 0.02 0.08 EPS After Extra Ordinary Basic EPS 0.05 0.02 0.08 Diluted EPS 0.05 0.02 0.08 Public Share Holding No Of Shares (Crores) 0.16 0.16 0.16 Share Holding (%) 37.98 37.98 37.98 Promoters and Promoter Group Shareholding a) Pledged/Encumbered - Number of shares (Crores) -- -- -- - Per. of shares (as a % of the total sh. of prom. and promoter group) -- -- -- - Per. of shares (as a % of the total Share Cap. of the company) -- -- -- b) Non-encumbered - Number of shares (Crores) 0.26 0.26 0.26 - Per. of shares (as a % of the total sh. of prom. and promoter group) 100.00 100.00 100.00 - Per. of shares (as a % of the total Share Cap. of the company) 62.02 62.02 62.02 Source : Dion Global Solutions Limited

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Fortis Healthcare promoters plan Rs 280cr buyback of NCDs

In a separate filing, RHC Holding Pvt Ltd, another investment firm controlled by the Singh brothers said its board would consider buy back 800 secured redeemable non- convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 80 crore allotted on March 28, 2014 on private placement basis.

Two promoter holding firms of Fortis Healthcare  are mulling a combined Rs 280 crore buyback of non-convertible debentures that were alloted on private placement basis.

Fortis Healthcare Holdings is mulling over a Rs 200-crore buyback of non-convertible debentures that were alloted on private placement basis. In a filing to the BSE, the company which is the holding firm of Fortis Healthcare Ltd, said its board will take up the matter for consideration on Wednesday.

"On March 11, 2015, the Board of Directors of the Company shall consider the proposal of buy-back 2,000 secured rated listed redeemable non-convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 200 crore allotted on March 28, 2014 on private placement basis," the filing said.

In a separate filing, RHC Holding Pvt Ltd, another investment firm controlled by the Singh brothers said its board would consider buy back 800 secured redeemable non- convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 80 crore allotted on March 28, 2014 on private placement basis.

Fortis Healthcare Holdings Pvt Ltd (FHHPL) is a holding/investment company, controlled by promoters of Religare Enterprises and Fortis Healthcare Ltd Malvinder Mohan Singh and Shivinder Mohan Singh.

FHHPL, is in turn held by RHC Holding Private Ltd (RHC) and Oscar Investments Ltd (OIL) , both of which are promoter holding companies. 

Fortis Health stock price

On March 09, 2015, Fortis Healthcare closed at Rs 145.60, down Rs 4.25, or 2.84 percent. The 52-week high of the share was Rs 169.50 and the 52-week low was Rs 93.60.

The latest book value of the company is Rs 80.16 per share. At current value, the price-to-book value of the company was 1.82.

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