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ET–InstaPOLL Is this the right time for retail investors to be investing in IPOs? Yes: 32%, No: 64%, Can’t say: 4%
Recession a rude wake-up call for NRI-rich villages Global Financial Crisis, Dubai Trouble Force Cousins To Dip Into Reserves Built On Emigrant Money
TO DAY ’ S Q U E ST I O N
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Asian and North American destinations into these towns, building plush homes and a raft of businesses. But that has now received a AROUND 3,000 families live in Madhapar, but rude jolt. The crores are flowing out, and for the village in Gujarat’s Kutch district holds once, the shoe is on the other foot. As the global financial crisis tipped the Rs 5,000 crore as savings in bank and post office accounts — a staggering Rs 1.7 crore per family. West into a painful recession, and with the Down south in central Kerala, the slightly Dubai crisis now making things worse, the larger Kumbanad-Kozhencheri belt has dollar-dirham rich non-resident Indians belonging to these towns are now dipping into Rs 5,400 crore parked in bank deposits. During the boom years, the largely enter- these reserves. The local business networks in these small prising communities from these two diverse regions poured in money earned in West towns that have developed over years caterTapash Talukdar & Anirvan Ghosh
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ing to these NRIs’ urge-to-splurge are scrambling for survival. Anandbhai Patel returned to Madhapar from Dubai last month after this employer — a construction company — asked him to go on leave. “I don’t know whether if I will get my job back when I return,” he says, adding that he is banking on the savings back home to finance the loans he had incurred in Dubai. His banker RV Jain, senior general manager at Bank of Baroda, says that in the last one year, foreign remittances have halved from Rs 120 crore a month to Rs 50-60 crore.
“Earlier, we had people queuing up to make deposits. Now, people come here mostly to withdraw money,” Mr Jain says. The borrowed prosperity shows in this village, 3 km off Bhuj, the hub of a devastating earthquake in 2001. Plush bungalows and offices of a dozen banks, many with cash machines, dot the canal which separates the modern settlement (Navo Vaas) from the centuries-old original village (Juno Vaas). Builders most worried: P 21
FUNDS FOR POWER ARM
Runaway food prices take GMR in talks to inflation to 10-month high raise Rs 1,200 cr
ET MARKETS, PF A 360º VIEW A YEAR AFTER THE GREAT ECONOMIC meltdown, the stock markets continue to remain turbulent. The major indices have staged a smart recovery, but volatility remains an ever-present factor. To help you negotiate the age of turbulence better, ET has over the past several weeks ramped up its coverage of markets and personal finance. Our new market pages, as you may have noticed, include Calculus — our analysis of companies, sectors and macro trends — and expanded coverage of mid-cap stocks, F&O analysis and recommendations on specific stocks by chartists and major brokerages. It’s fair to say investing has never been more difficult with movements in interest rates and stock prices increasingly hard to call. To help you generate more bang for your buck, we have worked hard to expand our coverage of personal finance. This includes experts answering your questions on a range of issues, including taxation and how to choose between various asset classes. For our young readers, we have Classroom to help better understand basic investing concepts. We have also added more depth to our coverage of mutual funds, Ulips, other insurance products and real estate.
Rate Hike Fears Loom As WPI Hits 4.78% As Against 1.34% In Oct Our Bureau NEW DELHI
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nnual inflation climbed to a tenmonth high fuelled by rising commodity prices pulling shares off their highs fearing a possible tightening of monetary policy, even as stocks across the globe rallied after Abu Dhabi agreed to fund Dubai to avert a debt crisis. Inflation, as measured by the Wholesale Price Index, rose to 4.78% in November, from 1.34% in the previous month, government data showed. The government and policy makers who are publicly saying that there could be no reversal of easy policies immediately and that stimulus measures will continue, reiterated the stand on Monday. “It is not as if we are taken by surprise or that there is any cause for any special emergency measure at this stage,” finance secretary Ashok Chawla told media in New Delhi. Prices have been rising at a fast clip in
the last few months because of easy monetary policies and falling production of agricultural commodities due to poor monsoon. But the government and the central bank are hesitant to change policy stance fearing that rollback of easy measures could derail the revival of an economy that grew at 7.9% in the second quarter of 2009-10. Sale of automobile and consumer durables are zooming due to low interest rates. Policy makers may not be able to hold on for long to the current policies if inflationary expectations remain at elevated levels, experts say. India is the only emerging economy in which inflationary expectation is high and the central bank will be compelled to tighten the liquidity scenario from January onwards to stay ahead of the curve, said Manoj Vohra of the Economist Intelligence Unit. Fast-food to cost more soon: P 21
Arun Kumar, Reena Zachariah & Ashwin Punnen
Atlas, Koosharem to merge in $840-million deal Atlas Acquisition Holdings Corp of the US, in which Dabur Group’s Gaurav Burman owns 5%, will merge with California-based temporary staffing company Koosharem Corp in a transaction valued at $840 million. CORPORATE: PAGE 5
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WPI 100% Primary 22.02% Fuel 14.23% Manufactured 63.75%
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4.78% 11.84% -0.89% 3.99%
1.34% 8.71% -6.55% 1.36%
8.48% 12.06% 6.39% 7.81%
It is not as if we are taken by surprise or that there is any cause for any special emergency measure at this stage
Ashok Chawla F I NANC E S EC R E TARY
FUND CIRCUIT Rs
THE GMR Group is in an advanced stage of talks with Temasek Holdings and ICICI Bank to raise Rs 1,200 crore to support the expansion plans of its power generation arm GMR Energy, two persons privy to the discussions said. Temasek, a sovereign wealth fund of the Singapore government, will invest Rs 600 crore in GMR Energy’s equity, while ICICI Bank will invest an equal amount by subscribing to its nonconvertible debentures, said one company executive who asked not to be named. However, he did not disclose the quantum of stake that will be picked up by Temasek. A banker close to the GMR Group said this could lead to the postponement of GMR Energy’s proposed initial public offer. GMR Energy is a wholly-owned subsidiary of the BSE-listed GMR Infrastructure. “The market for private capital is increasingly becoming robust. If the company manages to raise funds on its own terms, it may not tap the primary market anytime soon,” he said, requesting anonymity. A spokesman for GMR did not deny or confirm the deal. However, he admitted in an e-mailed response that “fundraising for growth capital is an ongoing process during which a number of parties are met”. GMR Energy expanding rapidly: P 21
SENSEX LOSES EARLY GAINS PAGE 14
NEW DELHI | MUMBAI
Ind ia
WALLET WOES
ET NOW
Crore each Temasek investment in GMR Energy via stake buy
ICICI Bank investment via non-convertible debentures
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Money intended for power co’s expansion plans
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Fund-raising likely to postpone GMR Energy’s proposed IPO
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Co operates 3 power plants — one in each in Mangalore, Chennai & Vemagiri (AP)
RIL TO TAKE THE CALL TODAY RIL will decide on a financial bid to buy LyondellBasell today based on the outcome of the bankruptcy court of New York South District’s hearing of the rescue plans proposed by the LyondellBasell team. PAGE 6
NTPC scales up FPO target to Rs 11k cr
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THE government has set an ambitious target to mop up around Rs 11,000 crore from the proposed divestment of 5% stake in utility giant NTPC Ltd as against the original target of around Rs 8,200 crore. The government has set the process in motion by appointing four investment bankers — JP Morgan, Citi, Kotak and I-Sec — for the power generation firm’s followon public offer (FPO). According to two investment banking officials involved with the FPO, the department of disinvestment has told the bankers that the issue has to be priced at a premium to the current market price of Rs 208 a share. This is contrary to the usual practice of pricing a follow-on public offer at a marginal discount to the market price. Officials, who did not want to be quoted, told ET that NTPC is likely to be the first company to go in for pure auction of shares in its follow-on public offer.
In the pure auction method of book building, institutional bidders would be free to bid at any price above the floor price, and allotment would be on a top down basis, starting from the highest bidder. Market watchers say this form of bidding helps in better price discovery, as opposed to the current format in which the merchant banker sets a price band, and investors have to bid within that range. The pure auction system also gives a more realistic picture of the demand for an issue as institutions do not have to factor in over-subscription, and need to bid for only the number of shares they wish to buy. Interestingly, the fees paid to these bankers is probably the cheapest so far in such a large transaction. The government will pay a fee of 0.0007% (five paise per hundred rupees) aggregating to less than Rs 8 crore, including all expanses such advertisement, listing, and regulator’s fees. Conventionally, such a large size issue cost upward of Rs 25 crore. Govt may appoint 6 i-bankers for NMDC: P 21
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Abu Dhabi gives $10 b for a friend in need Dubai Bailout Triggers Global Rally In Equities Haris Anwar DUBAI
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TALL TASK: Rebuilding Dubai
BU Dhabi provided $10 billion to help Dubai World, the state-owned holding company, avoid defaulting on a $4.1 billion bond payment that roiled global financial markets during the past month. Dubai World will use the money to cover debt of real estate unit Nakheel. The rest of the money will cover Dubai World’s interest and operating costs until the company reaches a standstill agreement with its creditors, Dubai’s government said in a statement. After the emirate and its state-controlled companies borrowed $80 billion to diversify away from dwindling oil supplies, Dubai’s ruler, Sheikh Mohammed Bin Rashid Al Maktoum, has been forced to seek Abu Dhabi’s help three times this
year as the global financial crisis dried up credit and triggered a property crash in the city state. “It comes as a relief for the market, underpinning hopes that the implicit government support for Dubai corporate issuance is intact,” said Jason Watts, head of credit trading at National Australia Bank in Sydney. “Whilst we are not out of the woods yet, it is definitely a step in the right direction.” The Dubai Financial Market General Index climbed 10%, the most in 14 months, leading a worldwide rally in equities that drove the MSCI World Index up 0.4%. Dubai’s November 25 announcement that state-owned Dubai World would seek to delay debt repayments spurred the emirate’s steepest stock- market selloff in 13 months and Europe’s worst rout since April. — Bloomberg Dubai pledge is a ‘giant step’, says Mobius: P 15
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THE POLITICALTHEATRE
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SERIOUS, SOLID POLITICS: GOING BEHIND THE SCENES & DECODING THE POWER MATRIX FOR YOU
IN A NUTSHELL Life imprisonment is for life: Supreme Court NEW DELHI: The Supreme Court has ruled that
in murder cases the convict sentenced to life imprisonment cannot claim any automatic right to be released after serving a minimum 14 years sentence, except under extraordinary constitutional provisions. The apex court further held that in case of life imprisonment, a convict should serve a minimum of 14 years imprisonment. A bench of Justices Altamas Kabir and Cyriac Joseph made the remarks while directing Chhattisgarh government to ensure that convict Ramraj sentenced to life imprisonment serves at least a minimum of 20 years.
Bus fires: Delhi imposes Rs 4-cr fine on Tata Motors NEW DELHI: Delhi government on Monday
imposed a hefty fine of Rs 4 crore on Tata Motors for “not properly” maintaining the low-floor buses it manufactured, following six of them catching fire in a span of three weeks. The government has also decided to withhold a payment of Rs 150 crore to the Tatas and warned of legal action if corrective steps were not taken by the automobile giant. Chief minister Sheila Dikshit said the government had “strongly warned” the Tata officials to ensure that such incidents do not happen in future. “We will take very strong action against them if they fail to ensure proper maintenance of these buses. They are responsible for the maintenance of the buses and we will not tolerate any sort of negligence on their part,” she said.
Ram Sethu: No deadline for panel exploring new route
Congress takes refuge in committee To Ask State Govt To Form A Panel To Work Out A Consensus On Telangana Issue Our Political Bureau NEW DELHI
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HE Congress, which finds itself in a bind over the Telangana issue, was on Monday devising ways to cut its losses. In a clear indication that the formation of the new state will have to wait, the Congress leadership will ask the state government to form a committee to work out a consensus on the statehood issue. The “committee route” will also help it pass the buck to other players. Parties like the TDP have already made a U-turn and are now arguing against splitting Andhra Pradesh. The DMK chief’s criticism on the announcement is also prompting the Congress to consult the next step on the Telangana issue with its allies. The Congress leadership is expected to touch base with the leaders of the alliance either late Monday night or Tuesday. There were indication of the Congress putting Telangana on the backburner through the day. The Congress leaders were stressing the need for a “consensus” for taking the next step on the separate state. “The central government will take the next step only after the state assembly passes the resolution for Telangana and then Con-
HC reprieve to Reddy brothers, setback for AP HYDERABAD: The Andhra Pradesh
government suffered yet another setback in its attempt to curb the Reddy brothers of Bellary after the AP High Court put on hold a probe by the Central Bureau of Investigation into the alleged illegal mining along the state’s border with Karnataka. The CBI investigation, which was requested by the state, has been stayed for six weeks, providing a reprieve to the embattled Reddy brothers and the Obulapuram Mining Company (OMC) which they run. On Friday, the same court had put on hold a November 25 decision by the government to suspend iron ore mining operations in the Anantapur area.
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Congress legislatures of Telengana region, including state ministers and MPs during a meeting in Hyderabad on Monday. — PTI
gress will support it,” party spokesperson Shakeel Ahmad said on Monday, within hours of the Andhra Pradesh Assembly being adjourned sine die. The view was also conveyed to 17 MPs from the non-Telangana regions by Union finance minister Pranab Mukherjee. About 130 MLAs belonging to coastal Andhra and Rayalseema are opposing the proposed resolution to form Telangana. With an unan-
ANDHRA CRISIS
imous resolution completely ruled out, the Congress feels that it can back out of its very public and unambiguous commitment to form Telangana. Mr Ahmad admitted that there were two views in Congress state unit for and against Telangana. While noting that the party ‘stands by’ the Centre’s decision on the creation of the new state, he added that the promise was made when the situation was ‘alarming’ with TRS leader K Chandrasekhara Rao’s fast entering the
11th day and students in Andhra Pradesh joining the agitation. The Congress spokesperson also said that party MLAs and MPs who had resigned after the decision to form Telangana were not against the party but against the bifurcation of the state. “They are not rebelling against the party,” Mr Ahmad said. Despite the party’s attempt to down play the spate of resignations, the matter could, in fact, become worse with Congress MLAs from non-Telangana regions mounting pressure on their MPs to follow suit. So far, only Vijayawada MP, L Rajagopal, has stepped down. Mr Rajagopal, who threatened to go on a hunger strike, was taken into preventive custody on Monday when he flew into Hyderabad from the Capital. Following in the footsteps of his close friend and political mentor, the late YS Rajasekhara Reddy, he promised to undertake a ‘padayatra’ across the state for a united Andhra Pradesh if prevented from going on a hunger strike. Meanwhile, the agitation, some of it violent, against the bifurcation of Andhra Pradesh continued. The law and order problem facing the state also took its toll on the second India-Sri Lanka one-dayer in Visakhapatnam. The Friday match has now been shifted to Nagpur.
GJM withdraws bandh call for statehood Jaswant Reaches Out To Advani, Seeks BJP’s Support For The Cause
NEW DELHI: The Centre on Monday appeared
to be employing delaying tactics over the controversial Sethusamudram project when it refused to set a deadline for placing before the Supreme Court the report of the expert committee on feasibility of pushing the project through an alternative route. The Centre said the RK Pachauri-headed expert committee could take a minimum of 18 more months to give its report. It said the preliminary report of the National Institute of Oceanography, which has allegedly doubted the feasibility of the project, cannot be taken as final and binding on the expert panel.
* THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
Our Political Bureau NEW DELHI
THE four-day-long bandh called by the Gorkha Janmukti Morcha (GJM) in support of their demand for a separate Gorkhaland state was called off on Monday evening after Darjeeling MP Jaswant Singh and the principal Opposition party, the BJP, appealed to them to help restore normalcy in the region in the run-up to the commencement of the December 21 tripartite talks. The issue came up during the Zero Hour in the Lok Sabha on Monday, when Mr Singh, who was elected to the House from Darjeeling with the backing of the GJM, made out a strong case for the formation of the separate state of Gorkhaland. He, at the same time, urged the protesters to withdraw their bandh call to pave the way for favourable conditions for the resumption of tripartite talks. His appeal was endorsed by Leader of the Opposition and his former colleague LK Advani. A GJM delegation led by its general secretary Roshan Giri met Mr Advani and his party colleagues Sushma Swaraj and Arun Jaitley later in the day, seeking their support for their cause. “Mr Advani appealed to the GJM leaders to continue with the tripartite talks after giving up the path of bandh and fast,’’ Ms Swaraj informed newspersons later in the day. The combined effort of the BJP and its estranged colleague had a positive impact on the GJM. The 96-hour shutdown was subsequently called off at 6 pm. “The decision was taken after the senior BJP leaders urged that the shutdown call be withdrawn for a normal situation to prevail before the tripartite talks scheduled in Dar-
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LEADING FROM THE FRONT: Darjeeling MP Jaswant Singh with GJM members at Jantar Mantar in New Delhi on Monday. PTI
jeeling on December 21,” Mr Giri said later, adding, “We have conveyed this to GJM president Bimal Gurung.” However, the indefinite fast going on since December 11 at three places in the hills and in Kolkata would continue, he said. Earlier, raising the issue in the Lok Sabha, Mr Singh strongly backed the demand for the creation of Gorkhaland, contending that the people of the region were already “emotionally separated’’ from the rest of West Bengal. Speaking in the House for the first time after being
sacked from the BJP in August this year, the former Union minister made a strong plea for an appeal from Parliament to the GJM to withdraw its four-day strike that began on Monday morning and participate in the talks scheduled for December 21. He sought to reach out to Mr Advani, “my former colleague with whom I have had the pleasure of sitting with for four decades,’’ asking him to associate himself with such an appeal, and reminded him about the mention of a separate Gorkhaland in the BJP’s manifesto for this year’s general election. “An appeal of this kind will have signal effect,” Mr Singh said. In response, Mr Advani said since his name had been mentioned by “my colleague’’ in the context of the manifesto, he would say that a GJM delegation would be meeting him. Pressing for the creation of a separate Gorkhaland state, Mr Singh said having small states is not a matter of principle, but a necessity for administrative efficiency. “It is not separation... The valiant nationalists (of Gorkha areas) are emotionally separated from the rest of West Bengal. Geographically also, they are distant,’’ the former Union minister argued. “What is needed is not passion, but compassion... Insaan ki awaz suno aur kadam uthao (Listen to the voice of people and take steps). They are the guardians of border, don’t distance them further,’’ he pleaded. Left members, in keeping with their stand on the issue, opposed the demand, with CPI leader Gurudas Dasgupta saying they had no objection to issuing the appeal, but there should be “no indirect encouragement for a separate state”.
Centre must douse its own fire: Naidu Our Political Bureau NEW DELHI/HYDERABAD
TDP chief Chandrababu Naidu, who did a complete U-turn on Telangana, put the onus on dousing the Andhra fire on the Manmohan Singh government. “The Centre has complicated the issue now. It is now for the government of India to douse the fire ignited by it,” he told a press conference in Hyderabad. Mr Naidu also accused home minister P Chidambaram and law minister M Veerappa Moily of playing with the sensitivites of the people of Andhra Pradesh through their “hasty and thoughtless decision.” “It is now beyond political parties and beyond the leaders. The reaction was so spontaneous that MPs, MLAs and other elected representatives cutting across party lines have tendered their resignation from their respective posts. In fact, even political parties have split vertically on the issue,” he said. The TDP leader also questioned the way the Centre dealt with the issue. Claiming that chief minister K Rosaiah was kept in the dark, the TDP leader said the Congress did not even consult its UPA partners on such a sensitive issue. He also cited Centre has complicated the DMK chief M K a r u n a n d h i ’s the issue now. It is now statement on for the government to Telangana to douse the fire ignited by drive home his point that it was a it... It is now beyond “hasty” decision. political parties and While talking to beyond the leaders reporters in Chennai on SunCHANDRABABU NAIDU day, the Tamil TDP CHIEF Nadu chief minister had criticised the Centre, saying that ‘‘the lesson to be drawn from the present crisis (in Andhra Pradesh) is that one should neither make a belated announcement nor a hasty decision thereafter’.’ In his interaction with the media, Mr Naidu blamed the Congress for “doing nothing” in the past five years on Telangana. “The Congress could not convince the people or its own partymen. It could not build a consensus on the separate statehood issue among various parties or even within it,” he said. Mr Naidu, whose party had supported the formation of a separate Telangana state during the elections earlier this year, parried a question on whether there would be any change in his party’s stand on the issue in the wake of the ongoing agitation for a united Andhra Pradesh. “People did not give me mandate in 2009 despite our stand on Telangana. Now, we have to discuss everything again in the party and take a decision. We are a very disciplined party, but we too are unable to find a solution to the current crisis,” he said.
Govt, Oppn score brownie points over anti-Sikh riots Our Political Bureau NEW DELHI
THE Manmohan Singh government on Monday informed the Rajya Sabha that Delhi Lt Governor had been advised to decide by this month-end the CBI request for prosecution of former Union minister Jagdish Tytler and former Lok Sabha member Sajjan Kumar, who were named by the Nanavati Commission for their role in the 1984 anti-Sikh riots.
“We have advised the LG to take the decision as early as possible. I will once again request that he must decide before the end of the month,” Union home minister P Chidambaram told the Rajya Sabha while responding to the discussion on the calling attention motion moved on the subject by independent member Tarlochan Singh. Dissatisfied with the home minister’s reply, the BJP, and its alliance partner, Shiromani Akali Dal, staged a walkout
cases, the investigating agency has sought permission from the competent authority, the LG of Delhi, to prosecute the accused persons,” he said. Refuting the charges levelled by Leader of the Opposition that he was a ‘friend’ of one of the accused, Sajjan Kumar, Mr Chidambaram said: “I am not defending anyone.” The Union home minister said his only advice was to proceed on an “impartial, fearless and speedy” inquiry.
from the House, accusing the government of doing nothing to ensure justice even after the lapse of 25 years of the riots, described as “a state-sponsored massacre of innocents” by Leader of the Opposition Arun Jaitley and as a “genocide” by Mr Singh. The CBI, Mr Chidambaram told the House, had completed investigation or re-investigation of seven cases against Tytler, Kumar and the late Dharam Das Shastri, former Karol Bagh MP. “In four
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No rape or murder in Shopian, says CBI Our Political Bureau SRINAGAR | NEW DELHI
THE death of two women in Shopian last May, which triggered a series of violent agitation, was due to drowning, a CBI investigation has concluded. The CBI probe report said the women were neither raped nor murdered. It has filed a chargesheet against six doctors, five lawyers and two civilians, including the brother of one of the women who died, for fabricating evidence. The 66-page report has absolved cops — detained for around 47 days and against whom a state-appointed judicial commission levelled charges of destruction of evidences — of all the charges. The CBI report
accused the 13 of hatching a criminal conspiracy to direct public anger against security forces. Since neither rape or murder took place, the CBI report has concluded that there was no case. The CBI says the lawyers hatched a conspiracy and forced the two persons to become witness. The CBI report gives a detailed description of how they were forced by lawyers and some of the family members of Shakeel Ahanger, the husband of one of the dead women. Rejecting the theory of the Majliss-Maashwarat that spearheaded the agitation that the two ladies who had gone to their orchard on May 29 were abducted, raped and murdered, CBI said the two opted to cross the river, instead of following the regular road and were drowned.
RS MPs submit impeachment notice against Dinakaran
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TROUBLES are mounting for Karnataka Chief Justice PD Dinakaran with 75 members from the Opposition in the Rajya Sabha on Monday submitting an impeachment notice against him, reports Our Political Bureau in New Delhi. The charges levelled in the petition against Justice Dinakaran, who was denied elevation to the Supreme Court, included possessing disproportionate wealth, land grabbing, entering into benami transactions, violating human rights of Dalits and poor and misuse of official position. A notice of the
Motion under the Judges (Enquiry) Act, 1968, for removal of the judge was presented to Rajya Sabha chairman Hamid Ansari. However, the Congress-led ruling coalition steered clear of the move to impeach Dinakaran. Signatories to the petition were members of BJP, Left, Samajwadi Party, JD(U), TDP, ADMK and BSP. The Rajya Sabha chairman will set up a three-member committee, comprising a Supreme Court judge, a high court chief justice and an eminent jurist to inquire into the allegations.
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
THE POLITICAL THEATRE
Centre issues terror alert after suicide attackers enter India Our Political Bureau NEW DELHI
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OLLOWING intelligence inputs that a Taliban-trained fidayeen squad may have sneaked into metros like Mumbai, Kolkata, Ahmedabad and Delhi to carry out fresh terror attacks, the states concerned have been put on high alert and security has been beefed up at vulnerable installations. Bhaba Atomic Research Centre (BARC) and Bombay Stock Exchange in Mumbai and US consulate in Kolkata are high on the radar of the fidayeens (suicide squads), a top Union home ministry official said. RSS headquarters in Nagpur, Kolkata port and some unidentified defence establishments are also among the likely targets of the “Pashtun-looking” terrorists, the official said. The Centre, in its latest terror alert sent to the police and civil authorities in the four states of Maharashtra, West Bengal, Delhi and Gujarat, has warned them about a group of foreign terrorists having entered the metros with the help of ‘facilitators’ from the Lashker-e-Taiba (LeT). In fact, the facilitators had already done the groundwork for the fidayeen’s arrival in Mumbai, Kolkata, Delhi and Ahmedabad, scouting the potential targets and also ar-
2006 and 2009. Among the buildings he was asked by his LeT handlers to conduct a reconnaissance of were BARC, RSS headquarters in Nagpur, Jalvayu Vihar complex in Powai, a residential complex in Kalina, Shiv Sena office in Dadar (Mumbai), NDC and Raksha Bhavan premises in New Delhi as well as civilian targets in Ahmedabad. As for additional inputs by the IB that terrorists had sneaked into the metros with a view to carry out fresh 26/11-type strikes, the alert asked the states to launch a search at all hotels and guest houses, besides stepping up surveillance at airports, seaports and key buildings with a high threat perception. The alert in Delhi also comes a month ahead of the World Hockey Championship to be held in January 2010. The Delhi police are taking no chances and have all possible measures in place to thwart any attack in the run-up to the Commonwealth Games due in October 2010. The terrorists who have entered the metros are described as Pashtuns who are well-versed in terror tactics and low-intensity warfare. The police agencies in the state have been told to look out for men ranging the logistics for their stay. an FBI team regarding the “targets” sur- with distinct features identified with PashThe Central alert, sent 4-5 days ago, also veyed by terror suspect David Coleman tuns such as a well-built physique, good shared with the states inputs provided by Headley during his visits to India between height, sharp features and fair skin.
VIDARBHA STATEHOOD ISSUE: POWER PLAY CONTINUES
Raj to visit Vidarbha today, may make MNS’ stand clear Our Political Bureau MUMBAI
THE ongoing debate over statehood to Vidarbha region has offered perfect opportunity to Maharashtra Navnirman Sena (MNS) chief Raj Thackeray to make foray into the region that has largely helped Congress and Shiv Sena. Raj’s day-long tour of the region scheduled on Tuesday is likely to precipitate the issue further. Sensing the political opportunity, Thackeray Jr is set to take a plunge in the Vidarbha politics on Tuesday. “He is likely to make his party’s stand clear on the issue. The move is aimed at widening MNS’s base in the region,” sources close to Raj told ET. “His statement will certainly negate the Sena,” he said. The Sena has been vociferously opposing the separation of Vidarbha from the state. “If the Centre can divide
Sena leadership to revisit the entire issue. “So far, only leaders of various parties have been making noise on the issue. No one is bothered about what over 3.25 crore people spread in Vidarbha’s 11 districts feel about this demand,” the MNS official said indicating that Raj will strike a balance between the two extreme views. Political observers feel Raj will also EXPANDING FOOTPRINT: Raj try to widen the gap between Shiv Andhra Pradesh to make Telangana Sena and the BJP. These two parties are from the region, why can’t it bifurcate at loggerheads with each other on the Karnataka to give its Marathi-speaking issue. The Sena is against the further regions to Maharashtra,” the Sena ex- division of the state while the BJP has ecutive president Uddhav Thackeray no objection if another state is carved said while announcing his party’s deci- out of Maharashtra. Raj’s effort would be to widen his sion to oppose creating of Vidarbha state “tooth and nail”. Karnataka and party’s base in the region. Of the total Maharashtra have a long-pending un- 66 MLAs from the region, the MNS has drawn blank while the Sena has 6. Topresolved border dispute. MNS insiders say, Raj’s statement to ping the list is Congress with 29 MLAs be made on Tuesday will force the followed by the BJP with 24.
Activists halt train near Nagpur winter session of the state legislature. Meanwhile, former Maharashtra Pradesh Congress Committee (MPCC) president Ranjeet Deshmukh wants party high-command to A RENEWED demand for making Vidarbha a grant deputy chief ministership to Vidarbha. In separate state intensified on Monday when a a letter, he has urged the newly-elected Connewly-formed and little-known organisation gress Legislative Party (CLP) leader and incumhalted the Vidarbha Express near Nagpur. bent chief minister Ashok Chavan to give the According to a Central Railway official, post of deputy chief minister to an MLA from around 200 activists of the Youth Force the Vidarbha region. stopped the Mumbai-Nagpur Vidarbha ExA former agriculture minister, Mr Deshpress on the outskirts of Nagpur. Railway au- Youth Force during rail roko in Nagpur mukh, while complimenting the incumbent thorities summoned the police who dispersed the protesters and the train proceeded after a delay of CM for his success in the recently-held state assembly elecaround 15 minutes. “There was no violence or any damage tions, said all developmental backlog issues of the region like due to the train-stopping incident,” a railway official told pending irrigation works, roads, agriculture, textile and healthcare can be entrusted to the deputy CM. The deputy mediapersons. At the same time, a few pro-Vidarbha legislators resorted CM should also be allocated the important task of handling to raising slogans for a separate state during the ongoing the agrarian crisis, he added. Our Political Bureau
3
Pradhan report to be made public Our Political Bureau MUMBAI
THE Maharashtra government has finally given in to the Opposition pressure and agreed to make the Ram Pradhan Committee report on the 26/11 public. Accordingly it will be tabled in the legislature on December 21. Home minister RR Patil told the Legislative Assembly on Monday that the report would be tabled next Monday just before the winter session of the legislature concludes. Last week, the Opposition, BJP-Shiv Sena, had mounted attack on the government for the report getting “leaked”. The Ram Pradhan Committee has probed the state’s response to the 26/11 terror attack. After a section of media carried reports on the contents of the report, the Opposition charged the government with leaking the report and even submitted a breach of privilege motion against chief minister Ashok Chavan, Mr Patil and additional chief secretary (home). Ever since the report was submitted to the government, the Opposition has demanded that it be made public, but the government has cited the ongoing 26/11 trial to claim that the findings of the report could influence the legal proceedings. But after media reports claimed that the report blames the state functionaries, including Mr Patil who was then the deputy chief minister and some senior cops, the Opposition has stepped up the campaign to demand that it be made public. Meanwhile, the state plans to take action against former commissioner of police Hassan Gafoor for his controversial remarks against some senior cops, Mr Patil told the assembly. He said the state had given an opportunity to Mr Gafoor, who was the commissioner when terror struck Mumbai, to clarify his position.
State may not foot entire ‘poll power’ bill Our Political Bureau MUMBAI
THE state power utility finds itself left in a lurch. Having been forced to buy expensive electricity to keep the lights on ahead of the Lok Sabha polls, it’s not likely to be fully paid by the state for the same. Worried over a political fallout due to extended blackouts during the polls, the Congress-NCP government directed the state utility to buy power at ‘any price’ during March-May 2009. Accordingly, Maha Vitaran bought some 1,500 mw in three months to reduce the prevailing supply gap, though partially. The cost of the power varied since it was bought from the spot market. To help Maha Vitaran make the payments, the state assured it a Rs 600-cr subsidy. However, when it comes to actual payment, the utility is likely to receive just around Rs 200 crore. This means, the utility would have to take a hit of Rs 400 crore. “This is not the first time. In the past, too, many a times the state has either refused to pay up or converted the due amount into its equity,” an official from the energy ministry told ET. Meanwhile, some consumer organisations have questioned the state’s decision to levy an additional charge of 35 paise for the next 4 months to meet RGPsales@seiLin PL’s recovery www.seil.in demand.
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BUSINESS OF BRANDS
4
PAY PER DAY: NEW RENTAL PLAN FOR RETAILERS
* THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
CONSUMER LIFE PRASOON JOSHI EXECUTIVE CHAIRMAN (INDIA) & REGIONAL CREATIVE DIRECTOR (APAC), MCCANNWORLDGROUP
Phoenix Tries Out Daily Rental; Inorbit, Nirmal To Follow Pradeep Pandey MUMBAI
W
HILE retailers are still working with the option of cutting costs and negotiating rentals to gear up for expansion, mall owners, who are vital for the organised retail sector, are experimenting with a new method — rent on a daily basis. Atul Ruia-owned Phoenix Market City mall has already implemented the system at a few of its locations, while others such as Inorbit and Nirmal Lifestyle are considering it as an innovative option for their forthcoming malls. “We are receiving positive response and have planned to implement it (the daily rental model) across the country,” said says Atul Ruia, managing director of Phoenix Market City, which has malls in Mumbai, Pune, Bangalore and Chennai. “It is a viable option in an industry that is just recovering from a period of uncertainty,” added Mr Ruia. Under this plan, the retailer will have a joint account with the mall owner and at the end of each day, the share of mall owner is debited to his account. At present, most mall developers practice revenue share scheme with minimum guarantee money, depending on the brand, product and location. In the revenue sharing model, percentage rents are payable annually, quarterly, monthly, or upon achieving breakpoint sales. Fixed rental was much preferred till the liquidity crisis spread and the global demand slump hit both retailers and mall owners. “We believe any innovative method that could streamline the system and synergy between the owner and the retailer is welcome,” said Kishore Bhatija, CEO of Inorbit, a K Raheja group company. He said the company is planning to implement the daily rental plan
We are receiving quite positive response and have planned to implement the daily rental model across the country. It is a viable option in an industry that is just recovering from a period of uncertainty ATUL RUIA MANAGING DIRECTOR, PHOENIX MARCKET CITY
PITCH REPORT
PUNE: Venky’s India, makers of processed,
Customer satisfaction for new vehicles rises: Study NEW DELHI: Customer satisfaction level for
new vehicle design and performance in India increased during the year with four models from car market leader Maruti Suzuki India grabbing top positions in different categories, in a study by research firm J D Power. According to the study, quality of new vehicle design and performance went up to 807 points on a 1,000-point scale in 2009, an increase of 20 points from last year. “The overall improvement in customer satisfaction in 2009 is primarily due to several new-model launches, as well as to redesign of existing models,” J D Power Asia Pacific senior director Mohit Arora said. The JD Power study factored design, features, layout and performance of new vehicles in ten categories.
Amit Sharma NEW DELHI
NEW DELHI: FMCG major Dabur plans to
launch ready-to-cook products under its ‘Hommade’ brand to expand in the estimated Rs 2,800-crore packaged food segment. The company currently sells culinary products under the ‘Hommade’ brand, besides ‘Real’ and ‘Activ’ brands of fruit juices. “Going forward, we are looking at expanding the range soon, including entry into new formats of packaged food products, which are showing good potential,” Dabur India marketing head (foods) KK Chutani said.
ON A HIGH PITCH Growth in Indian advertising in 2010
YET another global study has predicted that India will be among a handful of markets that will drive the global advertisement industry out of the recession next year. Indian advertisement industry is expected to grow at 10.5% (at current prices) in 2010, helping global ad spends to grow less than 1% after its worst performance, says a study by Zenith Optimedia, the world’s third largest media-buying agency and an enterprise under the Paris-based Publicis Group. A study released by global media agency Interpublic Group’s Magna recently predicted 16% annual growth in Indian advertisement revenues. The Zenith study predicts growth in all mediums next year with the Internet leading the growth rate with 16% jump in revenues. The agency said Indian advertising will grow at 11.4% and 11.8% in 2011 and 2012. “The worst is clearly over for the advertising industry globally and India is bound to show up better numbers than some other markets that bore the brunt of the recession to a greater extent. But it is true that India is a clear growth market of the future,” said Satyajit Sen, CEO of Zenith Optimedia India. While cricket and general entertainment channels (GECs) will continue to rule the roost in television content, as advertising options, India is among the few markets where print media continues to grow. “A key trend in the advertising landscape
Newspapers Magazines Television Radio Cinema Outdoor
10% 11% 11.6% 14.1% 5% 2% 16%
Internet Source: Zenith Optimedia
will be the fact that regional media, be it print or television, will continue to attract greater advertising revenue,” said Mr Sen. The report also predicts media inflation to remain consistent in the next few years. Growth in advertisement spent in India is expected to slow to 4.5% this calendar after a 18.9% jump in 2008, with key advertisers tightening their belts and shortening their advertising planning cycles, under pressure from their global headquarters. The year would be the worst for the global advertisement industry with ad revenues expected to fall 10.2% as big advertisement markets such as the US and UK most severely impacted by the global downturn. The worst could be over for the ad world though with Zenith Optimedia expecting the industry to improve steadily over the next three years, reaching 5% growth in 2012.
Online display ads to grow 32%: Study Harsimran Singh NEW DELHI
INDIAN online display advertising is expected to grow 32% this year to Rs 430 crore, says a new study. This will be slower than the 38% growth display advertisement such as banner ads, digital video and sponsored links that account for about 28% of total online advertising, according to the study by the Internet and Mobile Association of India and research agency IMRB, shared exclusively with ET. Classified advertising dominates the online ad industry with 48% share, while search-based advertising has a 24% share. “With the recession in the US economy and its global effect, there is a sharp decline in advertising by companies from the banking and financial services sector,” said Subho Ray, president of IAMAI. This pushed down the share of financial sector in the online display ad market to 17% compared to 25% last year. Carmakers, consumer product manufacturers, mobile handset firms and the education sector, however, increased spend on online display advertising to target young internet users. Online advertising by auto and IT and telecom sectors grew by about 40% on the back of a slew of new product launches and a clutch of new service providers.
Tatas launch upgraded Sumo Co Makes Substantial Changes In New Model; Foresees 60% Rise In Sports Utility Vehicle Sales Our Bureau MUMBAI
Dabur plans expansion of Hommade brand
[email protected]
Now,Zenith study says India will lead global ad revival
Venky’s to launch retail chain ready-to-eat chicken products, will launch the Venky’s XPS (short for express) retail chain, reports Gouri Agtey Athale. The first two outlets will open in Pune, followed by one each in Chandigharh, Bangalore and Mumbai, Venkateshwara Hatcheries group chairperson, Anuradha Desai, said. “All our chicken in minutes (CIM) products will be offered at the XPS outlets, which we will roll out gradually. The differentiating product at the Venkys XPS will be the grilled chicken, which no one else offers, along with our existing range of cutlets, kebabs, sausages, curries, etc. These outlets will encourage take-aways since we do not want to encourage people to sit there and eat,” Mrs Desai said.
first at its Hyderabad mall. Then it may take the model to its malls in Pune and Bangalore too. Inorbit’s mall at Hyderabad, which opened in October this year, has seen 66% occupancy on the revenue-sharing model. The remaining retailers would be on daily basis, Mr Bhatija said. Nirmal Lifestyle, which is all set to launch its second phase of expansion next year, has planned for 30% remaining space at its new mall at Mulund, a Mumbai suburb. Company chairman Dharmesh Jain said this model will evolve as a realistic method of revenue collection. “It would be beneficial with much transparent transaction between the two,” he said. Phoenix plans to implement this method in all the seven malls it plans to open in the next three years. Phoenix also plans to open malls in smaller cities like Lucknow, Agra and Indore. However, industry watchers say the practice is at a nascent stage. “Though this method would derisk the retailer from the pain of high rentals, it will take another two three years to be widely used,” said Shubhranshu Pani, managing director (retail) of Jones Lang Lasalle Meghraj. “Retailers are pressing for better options before signing revenue sharing agreements rather than going for pure rental arrangements with mall owners,” added Mr Pani. India’s roughly Rs 20,000-crore organised retail market, which is closely connected with malls, was among the first sectors in India to be affected by the crisis as urban consumers postponed purchases. As a result, many retailers and mall owners started looking at various options including revenue sharing and a minimum guarantee amount. Now it’s time for pay per day.
TATA Motors, India’s largest vehicle maker, expects sales of its sports utility vehicles to rise by 60% to 4,000 units a month, following the introduction of an upgraded version of its Sumo model. The company on Monday launched the Sumo Grande MK II, which will replace the Grande MK I, and will cost Rs 25,000 lesser than the outgoing model at Rs 6.43 lakh (ex-showroom Delhi). “We are currently selling between 2,500 to 3,000 utility vehicles and we expect it to increase by 1,000 vehicles a month,” said Rajiv Dube, head of the passenger vehicle division. The Mark II was launched at a lower price to clearly position this vehicle and the Sumo Victa. There was a lot of cannibalisation taking
Victa model, retails between Rs 4.7-6 lakh and the Safari retails between Rs 7-11 lakh. The Grande Mark II, which will be available in three trim levels, will target large families who want the looks of a SUV (sports utility vehicle) and the comforts of an MPV (multi-purpose vehicle), said Mr Dube. The Sumo Victa, positioned at the entry level, is targeted at the fleet operators. The Sumo variants are currently produced at the company’s Pune plant which also produces the Safari and Indica. Based on customer feedback, the company made substantial changes to the Mark II, POWER PLAY: Rajiv Dube, president, which includes fine tuning of the suspension, passenger cars, Tata Motors, at the launch ride, handling, steering and brakes. Some of of Sumo Grande Mark II in Mumbai the other exterior changes include new grill, place between MK I and the Safari sports util- side rub rails with chrome inserts and interiors ity vehicle, said a senior company official. Cur- have been refreshed which include a wood rently, the Sumo range, which includes the centre console and new upholstery.
OUTDOOR MAGIC: LIFE AS BACKDROP
It’s fun but tough out of home I VIVIDLY remember a road trip, driving through a small town amidst an array of the usual minivans, local buses, cycles, tempos. There was this improvised cart plastered with posters, announcements of an upcoming show being made on the megaphone. Weaving its way through the dusty lane it strung along a bunch of children and teens who walked alongside, enchanted animatedly pointing at the posters and jumping up to take a better look. It was a peek into the world of outdoor advertising, one that was moving its audience along with it. Many years have passed since, but outdoor continues to hold its magic for me. Perhaps the oldest medium, it’s also the most public of all mediums. As our lives get more mobile, as a medium outdoor needs to get more nimble. Everything from painted buses, taxi panels and train windows to telephone kiosks, street furniture, TV screens in malls and messages in the sky is outdoor or ‘out of home’. Outdoor advertising is everywhere and few of us will admit to even notice its existence as we go about our increasingly busy lives. Yet, nothing can be further from the truth. For, though it’s perceived as a simple medium, outdoor advertisement’s processing in the human mind is complex. Every poster, panel, banner, flyer, message/couplet behind an auto/truck subtly imparts its information to our brains and sways our brand perception on a daily basis. The message gets stored subliminally and plays its role when required. After all, human brain is a complex mechanism, which doesn’t just switch off when it is filled with all the learning it can absorb. The fact is that even though we may not be aware of it, we as consumers are affected. It may seem like low involvement processing, but if done well, the triggers can be planted. However, planting these triggers or making outdoor engaging is not an easy task. In most cases, outdoor is an “eyelid medium” — blink and it’s gone. It is not easy to include intricate craft because it’s not naturally a captive medium. Moreover, one doesn’t intentionally tune into outdoor. It has to capture and compete with pulsating existence around it. It’s the only medium that has life as the backBhanu Pande drop. You see, most other mediums are NEW DELHI interspersed with entertainment created for that medium. Outdoor is interPRASOON Joshi, McCann spersed with real life. Worldgroup’s executive chairHence, very specific kind of ideas and man for India and regional creexecution are required for this medium, ative director for Asia Pacific, has which in turn makes this a very interestbeen inducted on the board of the ing and challenging form of advertising. global advertising and marketing Today outdoor has evolved as a medicommunications network. um. It is bigger than just billboards and Joshi is the first person from kiosks, it is now an interactive independMcCann’s Indian arm to achieve ent field in which a lot of experimentathis feat within the global parent’s tion —on the technology and art — is management structure.He was in happening. Little surprise then that it’s New York recently to attend his become a standalone high-impact medifirst board meeting in McCann um in its own right with examples of World Group. He, however, could brand campaigns being launched primanot be reached for his comment. rily through outdoor. A couple of McCann executives Fitting, for in any case communication pointed out that this is the first inhas to be at different levels. It cannot be as stance of anyone from creative simplistic as ‘TV/ print/online will be the background to be elevated into a lead media, and outdoor the reminder’. In crucial board level role in the New fact, there cannot be a single-minded York-headquartered group that proposition either. Sure, I do not deny that includes McCann Erickson, UniSMP works and one may choose to dramaversal McCann, MRM Worldwide tise or increase focus on one proposition, and Future Brands. Joshi’s elevabut it doesn’t mean that others don’t exist tion also reflects the increasing or cannot be explored and leveraged. recognition Indian advertising talIn life people don’t have one choice, ent is enjoying on the global stage. they have multiple and they have multiple He will now assist McCanreasons to choose. When you ask why do nWorldgroup in its rapid strides you love so and so? It’s very difficult to say. in the Asian markets. The media To make it sound logical, you may articuconglomerate has seven business late the one that sounds better but there units incuding advertising, direct are other big and small reasons all with marketing, events & retail martheir own importance. Similarly, when it keting, brand consultancy, comes to why I love this brand — it’s diffihealthcare communications and cult to really put forth all the reasons. Yes public relations. there could be a single main benefit but there are equally wonderful others. Like life, a brand and its communication too cannot be over simplified. There are multiple facets of a brand and each medium should carve out a real personality of a brand, its many aspects. It’s about creating a sensorial experience of the brand. A co- existence of various mediums with their own codes, connect with the consumers in their own distinct manner. What does it take to produce great outdoor campaigns? There are no magic formulas. The answer lies in the unexpected merging of image and text, in references to social and physical context and on the responses of the consumers.New technology will enhance outdoors’ effectiveness and its interactivity with the consumers bringing new creative energy and almost unlimited flexibility, thereby opening up an array of dynamic advertising alternatives for the future. At the same time, it will do us well to remember that it will not be the size of the budget or the hoarding, but the size of the idea that will eventually matter most.
PRASOON ON MCCANN’S GLOBAL BOARD
Lost in the Woods: Risks of advertising with one-man brand Go, Go...Tiger: Accenture Ends Six-Year Relationship With Golf Superstar Who Had Become Its Human Face
A
IN GOOD TIMES: Woods in an advertisement
CCENTURE, the giant consulting firm, ended its six-year marketing relationship with Tiger Woods on Sunday, showing once again that in advertising as in sports, there are no sure things. Woods had been featured in Accenture campaigns with the tagline “Go On. Be a Tiger,” splashed in business magazines and airport waiting rooms since 2003. Since most consumers have no idea what a company like Accenture does, Woods became the human face of the corporation and a means to extol the corporate virtues of performance and risk-taking. In a statement on Sunday, the company said Woods, 34, was “no longer the best representative” for its advertising. The action came more than two weeks after a bizarre car accident involving Woods, who is married, led to a series of embarrassing revelations about affairs he had carried on with other women. Then on Friday he announced that he
Earlier this year, Kellogg dropped its sponsorship was taking a hiatus from golf. of Michael Phelps, the gold-medal swimmer, after Accenture is the first of Woods’ many sponsors to he was photographed using a marijuana pipe at a withdraw its support completely. Gillette has said it party, saying, in language similar to Accenture’s, will remove its Woods-related advertising for now, that his acts were not “consistent and other sponsors, like AT&T, POWER OF ONE with the image of Kellogg.” In PepsiCo and Nike, have said they 2003, Nutella and McDonald’s will wait to see when and how Accenture’s decision is ended their deals with Kobe Woods returns to golf before another example of how Bryant after he was accused of making any permanent decisions. risky it can be for sexual assault in Colorado; the EA Sports, which has a line of bestcharges were eventually dropped. selling Tiger Woods video games, is corporations to base their Among corporate pitchmen, also standing by the golf star. marketing efforts on however, Woods is unique. He In response to Accenture’s individual celebrities dominates a sport for individuals announcement, Mark Steinberg, that is marketed around the Woods’ agent, said, “We are disapworld while still being hugely popular in the United pointed but respect their decision.” States, in contrast to sports like tennis. Accenture’s decision is another example of how “Tiger is the best example of a walking, individual risky it can be for corporations to base their corporation,” said Ben Porritt, a public relations executive marketing efforts on individual celebrities in an age when blogs, camera phones and the digital footprint who advised Alex Rodriguez, the Yankees third baseman, left by the celebrities themselves can quickly expose last spring after his onetime steroid use was disclosed. “Tiger is going to come out of this as somewhat of a banktheir foibles to the world.
rupt brand,” said Porritt, who also served as a spokesman during John McCain’s presidential campaign last year. “He will have to restructure and go forward.” But, he said, “It’s going to be an ugly few months.” Several companies that measure consumer reaction believe the ugliness has already started. Zeta Interactive, a digital ad agency that monitors message boards, blogs and social media posts, said positive sentiment toward Woods had already plummeted. Before the accident, buzz about the golfer was 91% positive; by Friday, that figure had sunk to 43%. The turnabout “is the quickest fall from positive to negative we’ve ever seen,” said Al DiGuido, chief executive at Zeta Interactive. The Nielsen IAG unit of the Nielsen Co. found that the accident quickly affected the brands Woods peddles. There were more than 20 instances through Monday, December 7, of jokes being made on late-night talk shows that paired Woods with one of his sponsors by name, according to Nielsen IAG. Tim Arango New York Times News Service
CORPORATE
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
5
RCOM may sell stake in Flag undersea cable network ‘Co Invites Bids From Strategic Investors’; Move Part Of Plan To Monetise Unutilised Assets
VALUE TALK
Our Bureau MUMBAI
R RCOM is eyeing users with high bandwidth needs to sell pieces of Flag, said sources Deutsche Bank is advising RCOM on the transaction Valuation of 65,000-km Flag network could be lower than $3 billion, analysts said
ELIANCE Communications (RCOM), India’s second-largest telecom operator by subscriber numbers, may invite strategic investors to buy some part of its Flag undersea cable network as part of a plan to monetise unutilised assets. The Anil Ambani group company has invited preliminary bids and is expecting offers in about a few weeks from now, said a person in the know. However, we were not able to ascertain which sections of the 65,000-km cable network, that connects 40 countries from the East coast of the United States to Japan, could be hived off to potential buyers. Another person said Deutsche Bank is advising RCOM on the transaction. When contacted, RCOM strongly denied that they intended selling parts of the Flag network. The
Deutsche Bank spokesperson declined to comment. Flag is a part of Reliance Globalcom (RGL), which also includes RCOM’s enterprise services, which it sells to companies, besides the high revenue generating NLD and ILD operations. RCOM may have taken a cue from Google’s purchase of a piece of the Unity fibre optic cable, which connects the US and Japan, in February 2008. The search engine is investing in undersea cables to meet its ever-increasing bandwidth requirements. In addition to Google, other members of the Unity consortium include Bharti Airtel, Japan’s KDDI, Pacnet, SingTel and Global Transit. Undersea cables are laid beneath the sea to carry telecom traffic between countries and link all the continents. They carry voice as well as data traffic. The cables are not fully utilised in certain geographies due to low voice and data traffic. “RCOM is eyeing users with high band-
width needs to sell pieces of Flag,” said one of the persons quoted earlier. Typically, IT and IT-enabled services providers and corporate enterprises are high bandwidth users. Reuters carried a news report early on Monday saying RCOM is looking to sell Flag and US-based ethernet service provider Yipes to raise around $3 billion. The report also said that a Reliance spokesperson had “vehemently” denied the story. The RCOM stock lost 1.3% to close at Rs 181.20 in a flat Mumbai market. Analysts in Mumbai said the valuation of the 65,000-km Flag network could be lower than $3 billion. RGL contributed Rs 2,264 crore in sales or 31% to RCOM’s revenues during the quarter ended September 2009. In FY09, RGL’s EBITDA was Rs 1,625 crore. “A valuation of seven-eight times EBITDA would make RGL worth Rs 11,300 to Rs
12,000 crore. And, Flag is just one part of this,” said a sector analyst. In 2004, Reliance Infocomm (now RCOM) had bought the Flag submarine cable for $211 million and it had spent another $400 million on building Falcon, another cable system. Falcon is now integrated with the Flag network. An undersea cable typically has a lifespan of 15 years and Flag is an 11-year-old system. “It is an older generation cable and may not be of much use in a few years from now,” said an analyst tracking the sector. Some analysts believe that RCOM may need to spend more to increase its subscriber base. “RCOM’s ability to capture subscriber growth from rural and semi-urban centres will be constrained by its low tower base. Thus, we do not believe RCOM is best placed to cut capex and generate growth,” HSBC Securities and Capital Markets analyst Rajiv Sharma said in a report recently.
CABLE SPACE
US’Atlas to merge with California’s Dunlop owner buys 60% temporary staffing co Koosharem in Germany’s Henniges Move May Bring Down Dabur’s Gaurav Burman’s Stake In Atlas To 3% Pawan Ruia Acquires Stake Through Mauritian SPV Vivek Sinha & Chaitali Chakravarty ATLAS Acquisition Holdings of the US, in which Dabur Group’s Gaurav Burman owns 5%, will merge with the Californiabased temporary staffing company Koosharem in a transaction valued at $840 million (Rs 3,920 crore). Atlas, the special purpose acquisition company (SPAC) that raised $200 million last year in an initial public offer to buy companies and assets, has agreed to merge with Koosharem that puts approximately 92,000 people on assignment every week at over 6,500 companies in the US. The combined entity would be rechristened Select Staffing. The cash with Atlas will be used to repay Koosharem’s loans as per the deal agreement. “Select Staffing represents exactly the type of business the SPAC structure was created for,” said Gaurav Burman, president of Atlas Acquisition Holdings. “We believe that Atlas’ cash, coupled with Select Staffing’s business, gives Atlas shareholders an ideal platform for future value creation,” he added. SPACs, which are also called blank cheque companies, are firms that raise money in an initial public offer of shares with the aim of buying unidentified assets
KOLKATA
ANIL Agarwal’s Vedanta Aluminium (VAL) is bracing for fresh trouble at its proposed bauxite mining site in Orissa, even as local authorities gave a report to the Naveen Patnaik government stating that the company had not violated any government guidelines. Significantly, Vedanta’s proposed bauxite mining operation is critically linked to VAL’s Rs 11,000crore aluminium project in the state. While it has already commis-
KOLKATA
Deal between Atlas & California’s Koosharem is valued at $840 m. Cash with Atlas will be used to repay Koosharem’s loans as per the deal. Dabur Group’s Gaurav Burman owns 5% in Atlas and companies. These kinds of share sales happened mainly before the stock market collapse in 2008 and they have no business running at the time of raising funds. Through Select Staffing, Atlas could look to strike some deals in India in the staffing business, a person with direct knowledge of the development said. Last few year’s high economic growth prompted many Indian companies in the banking, technology, insurance and retail sectors to start hiring workers from companies that supply temporary staff which are known as temps. However, the economic slowdown last year affected Indian temping firms whose clients froze hiring. But, staffing companies believe that clients would be inclined to hire more temporary
staff in future than permanent staff as it provides flexibility in shedding manpower quickly during a slowdown. Privately-owned Koosharem had revenues of $1.4 billion for the year ended December 2008. Post-merger Mr Burman’s stake may fall to 2-3%. The idea behind the deal is to tap the expected surge in demand for temporary employees in the US where companies could be wary of adding permanent employees as they slowly emerge out of recession. Temps cost less than permanent employees. Some India-focused SPACs, that raised money overseas over the past few years, include Trans-India that raised $92 million in February 2007, Phoenix India, India Globalization Capital and Millennium India Acquisition Company.
Vedanta braces for fresh trouble at proposed Orissa bauxite mining site Rakhi Mazumdar
Our Bureau
JOINING HANDS
NEW DELHI
sioned its alumina refinery at Lanjingarh, the company has been unable to start work at Niyamgiri, the chosen site of its captive bauxite mining operations. For the moment, VAL has approvals to mine up to 3 million tonne of ore per annum for its project. Vedanta’s fears stem from the fact that it is yet to even kick off in the Niyamgiri hills, even a year after it received the go-ahead from the Supreme Court in August 2008. In a letter to the police superintendents of Rayagada and Kalahandi last week, Vedanta COO-
Lanjigarh Mukesh Kumar, said: “We are seeing increased movement of foreigners from various countries in the area. We also came to know that several confrontations have taken place in various villages between tribals and foreigners, and we apprehend that this may lead to some serious law and order situations.” The Vedanta official’s letter added: “We request your immediate action in this regard, so that outsiders do not get a chance to instigate local tribals against the government of Orissa or the project.”
.
PAWAN Kumar Ruia, owner of Dunlop India and Jessop, has acquired a 60% controlling stake in German firm, Henniges Automotive Grefrath, with its state-of-the-art manufacturing facility in Grefrath (Germany) for an undisclosed sum. A leading supplier of automotive sealing systems to global majors like Daimler, BMW, Audi and Volkswagen, Henniges Auto has about 400 employees on its rolls and grossed a turnover of €83.5 million in 2008. Announcing the deal on Monday, Mr Ruia said: “We cannot disclose the acquisition cost made through a special purpose vehicle (SPV) — Wealth Sea — in Mauritius, on behalf of the Ruia Group. This SPV, along with Henniges director Juregen Hein and administrator Wolf Von Der Fecht formed Draftex, which acquired the assets of the German firm.” The group outbid several international companies to acquire Henniges Automotive Grefrath. While the Kolkata-based Ruia Group will hold about 60% of Draftex’s equity, Henniges director will hold about 15% and the administrator, the remaining 25%. The Ruia Group also
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has a call option to buy back the shares held by Mr Hein and Mr Fecht. Elaborating, Mr Ruia said: “We have not taken over the company’s past liabilities. The acquisition has been funded through the Ruia Group’s internal accruals, a credit-line given by the German administrator and the advance given by Daimler, BMW, Audi and Volkswagen against the supply of automotive sealing systems for the next four years.” Incidentally, this is the second international acquisition in the automotive sealing business by the Ruia Group, the first being that of Schlegel Automotive Europe, with its manufacturing facility at Leicestershire in the UK. The Ruia Group is looking to expand its business in this segment since the global business of sealing systems is looking up once again after a substantive meltdown in 2008. “We hope to be a major player in the business of manufacturing automotive sealing systems and an important player in the auto-ancillary business. We continuously look forward to worthwhile acquisition opportunities. I am sure the rubber processing business of the group will find the state-of-the-art-technology of Henniges useful,” Mr Ruia added.
IN A NUTSHELL FCH to consolidate retail fin operations MUMBAI: Future Capital Holdings, part
of Kishore Biyani-led Future group, has constituted a committee of directors to look into consolidation of the group’s retail financial services, undertaken through a few joint ventures. The company on Monday informed the stock exchanges that the board had taken the decision on December 11.
HDIL to raise Rs 11.5 b MUMBAI: Real estate services provider
Housing Development & Infrastructure said on Monday it plans to raise Rs 11.5 billion via issue of long term nonconvertible debentures.
Raju’s condition worsens HYDERABAD: Former Satyam Computer chairman Ramalinga Raju’s health seems to be worsening. Raju, who is being treated for Hepatitis C and heart ailments at the Nizam Institute of Medical Sciences in Hyderabad, is now suffering from complications like bleeding from the nose.
Clarification In our interview with Thomson Reuters chief Thomas Glocer, which appeared in the ET edition dated December 8, 2009, we got our numbers wrong as regards the number of employees. The company employs more than 50,000 people. We regret the error.
‘RENEURS
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Our Company was originally incorporated as “Multi-Tech Energy Limited’ under the provisions of the CompaniesAct, 1956 . Acertificate of incorporation was issued on October27, 1995 bythe Registrarof Companies,Gwalior,Madhya Pradesh. The certificate of commencement of business was issued on June26, 1998. Subsequently, the name of our Company was changed to D.B. Corp Limited’ pursuant to shareholders resolution dated November 28, 2005. A fresh certi cate of incorporation consequent to the change of name was issued on December 1,2005 by the Registrar of Companies, Ahmedabad , Gujarat. On December22, 2006, th Hcn’ble High Court of Gujarat approved the scheme of arrangement following which the publication business and the windfarrn business of Writers and Publishers Limited was transferred to ourCompany. Forfurther det ails on our relevant demergers, see section tItled “History and CertaIn Other Corporate Matters ’. RegIstered office: Plot No. 280 , Sarkhej Gandhinagar Highway. Near YMCA Club , Makarba . Ahmedabad — 380 051 , Gujarat , India. The registered office of our Company was shifted from 6, Dwarka Sadan, Press Complex, M.P. Nagar, Bhopal —462011 India by a shareholder ’s resolution dated November 4,2005 and certified by the Company Law Board , Western Regional Bench, Mumbai by its orderdated December5, 2005. Forfurtherdetails regarding change inthe registrarof companies referto section tided “History and Certain Corporate Matters” beginning on page 115 of the Red Herring Prospectus. Tel: +91 7939588850; Fax: +917939814001 ,Webslte: wwa.bhaskarnet.com, Email:
[email protected]. Corporate office: 6, Dwarka Sadan, Press Complex, M.P. Nagar, Bhopal — 462011. Tel: +91 755 3988 8840. Fax: +91 755 4270 469, Company Secretary and Compliance Officer: Mr. K. Venkataraman,TeI:+912239804818/ 17, Fax: +91 2239804819 , E.mail:
[email protected]
PUBLIC ISSUE OF UP TO 18,175,000 EQUITY SHARES OF RS. 10 EACH (“EQUITY SHARES”) FOR CASH BY D.B. CORP LIMITED (“‘COMPANY” OR “ ISSUER”) AT A PRICE OF RS. (•] PER EQUITY SHARE (INCLUDINGASHARE PREMIUM OP RS. (•J PER EQUITYSHARE)AGGREGATING UPTO RS. (. MILLION (THE “ ISSUE”) CONSISTING OFAPRESH ISSUE OF 12,725,000 EQUITYSHARES BYThE COMPANY (‘ FRESH ISSUE”)ANDAN OFFERFORSALEOF 5,450 ,000 EQUITYSHARES (‘OFFERFORSALE”) BYCLIFFROSE INVESTMENTLTD. ( THESELLING SHAREHOLDER”).THE ISSUESHALLC ONSTITUTEUP TO 10.01%APPROXIMATELYOFT EIE FULLY DILUTED POST-ISSUE CAPITALOF OUR COMPANY.
PRICE BAND: RS. 185 TO RS. 212 PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH .
A discount of Rs. 2!- to the Issue Price determined pursuant to completion of the Book Building Process will be offered to the Retail Individual Bidders. THE FLOOR PRICE IS 18.5 TIMES OF THE FACE VALUE AND THE CAP PRICE IS 21.2 TIMES OF THE FACE VALUE BIDS CAN BE MADE FOR A MINIMUM OF 30 EQUITY SHARES AND IN MULTIPLES OF 30 EQUITY SHARES THEREAFTER. Incaseof revision inthe PriceBand ,the Bidding/Issue Periodwill beextendedforthreeadditionaldays afterrevision of the Price Bandsubjeottothetota l Bidding/Issue Period notexceeding lobusinessdays.Anyrevision in the Price Band and the revised Bidding/Issue Period, if applicable , will be widely disseminated by notification to the National Stock Exchange of India Limited (“NSE”)and the BombayStook Exchange Limited (“ BSE” ), by issuing a pressrelease,and also by indicating the change on thewebsites of the BookRunning Lead Managers (“ BRLMs ”) andattheterminals oftheSyndicate. Pursuantto Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 (“SCRR’),this being an Issueforless than 25% of the post-Issue share capital, is being made through the 100% Book Building Processwherein at least60% ofthe Issue shall be allocated on a proportionatebasisto Qualified Institutional Buyers (“QIBS’),outofwhich 5% shall be available forellocationon a proportionate basisto Mutual Fundsonly.The remaindershall be available for allocation on a proportionate basis to QIB Bidders including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. If at least 60% of the Issue cannot be Allotted to QIB Bidders, then the entire application rnoneywlll be refundedforthwlth. In addition,In accordancewith Rule 19(2)(b) of the SCRR, a minimum of two million securities are being offered tothe public and the size of the Issue shall aggregate to at least Rs. 1,000 million. Further, not less than 10% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them atorabove the Issue Price. Retail Individual Bidders, who are Indian residents, may participate in this Issue though the ASBAprocess by providing the details of their respective bank accounts in which the corresponding Bid amounts will be blocked by Self Certified Syndicate Banks. For details in this regard, specific attention is invited to the section titled “Issue Procedure’beginning on page429 of the Red Herring Prospectus.
AC
Simple, Safe, Smart way of Application Make use of it !!! A * ‘Applications Supported by Blocked Amount (ASBA) is a better way of applying to issues by simply blocking the fsnd in the bank account, investors can avat the same. For details, check section on ASBA below. -
1.]uIY V . I CLOSES 14: TODAY ‘1!
Name of Promoters: Mr.Ramesh Chandra Agatwal and Mr. SudhirAgarwaL
Bidders should note that on the basis of name of the Bidders, Depository Participant’s name and identification number and beneficiary account number provided by them in the Bid cum Application Form,the Registrarto the Issue will obtain from the Depository demographic details of the Bidders such as address , PAN, occupation and bank accountdet ails (‘ Demographic Details ) for printing on refund orders or
give cred itthrough ECS, NEFT, Direct Credit or RTGS. Hence, Bidders should carefu llyfill in their Deposito ry Account details in the Bid cumAp plication Forni. These Demographic Detai lswo uld be used for all correspondence with the Bidde rs including mailing of the refund orders !CANs/AllocationAdvice and printing of Bank particulars on the refund orderandthe Demographic Details given by Bidders inthe Bid cum Application Form would not be used for any other purpose by the Regist rarto the Issue. Hence, Bidders are advised to update their Demographic Details as provided to their Depository Participants. Please note thatfa ilure to do so could result in delays of credit of refunds to Bidders at the Bidder ’s sole riskand neither BRLM northe bank shal l be liable to pay any interest for such delay orsha ll have any respon sibi lityorundertakeany liabi litytorthe same. IPO Grading: This Issue has been graded by CreditAnalysis and Research Limited.and has been assigned the “I PO Grade 4/5” indicating above average fundamentals , through its letter dated October 5, 2009. The IPO grading is assigned on a five point scale from Ito 5 with an IPO Grade5” indicating strong fundamentals and “I PO Grade 1’ indicating poorfundamentals grade For more information on P0 grading, please referto Section “General Information ’beginning on page 6. LISTING: The Equity Shares offered through this Red Herring Prospectus are prop osed to be listed on the NSE and the BSE. We have received in-principle approval from the NSE and the BSE for the listing of our Equity Shares pursuant to letters dated October 8, 2009 and September 7, 2009 respectively. Forthe purposes of this Issue , Bombay Stock Exchange Limited shall be the Designated Stock Exchange. DISCLA IMERCLAUSEOFSEB I:SEBI onlygives itsobservationson the OfferDocum ents endthi sdo es not constitu teappr eva lofeitherthe lss ueorth eOfferDocur nent. DISCLAIMER CLAUSE OF THE BSE -(The Designated Stock Exchange): “ It sto be distinc ty understood ttiatthe permission given by BombayStock Exchange Limited should notin anyway be deemed orconstrued that the Offer Document has been cleared orapproved by Bombay Stock Exchange Limited nordoes itcertify the correctness orco nipleten ess of any of the contents of the Offer Document. The investors are advised to referto the Red Herring Prospectus forthefu lltex t of the Disclaimer Clause of Bombay Stock Exchange Limited.” DISCLAIMER CLAUSE OF THE NSF: “ It is to be distinctly understood that the permission given by NSE should not in anyway be deemed orconstr ued that the Offer Document has been cleared or approved by NSE nor does it certifythe correctness orcompletenessofany of thecontentof the Offer Document .The investors are advised to referto the Red Herring Prospectus forthefu ll text of the Discl ainierClause of NSE.’
Enam Securities Private Limited
801 , Dalamal Towers, Nariman Point, Mumbai 400 021
India
Tel: +91 22 6638 1800, Fax: +91 22 2284 6824 Email:
[email protected] Investor Grievance E-mail: complaintsi enam.com Website: .enan1.com, Contact person: Mr. Pranav Mahajani SEBI Registration No.: 1NM000006856
e KAR\’Y’
REGISTRAR TO THE ISSUE
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,
BOOK RUNNING LEAD MANAGERS
Citigroup Global Markets India Private Limited 12th Floor, Baklitawar, Nanman Point , Mumbai 400 021, India Tel: +91 22 6631 9890, Fax: +91 22 6646 6054 Email:
[email protected] Investor Grievance E-mail:
[email protected] Website: w.citibank.co.in, Contact person: Mr. Ashish Jhaveri SEBI Registration No.: 1NM000010718
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Investment Banking Kotak Mahindra Capital Company Limited 3rd Floor Bakhtawar , 229 , Narirnan Point, Mumbai 400021 , India Tel: +91 22 6634 1110, Fax: +91 22 2283 7517 Email:
[email protected] Investor Grievance E-mail: kmccredressalt kotak.com Website: www kotakcom , Contact person: Mr Chandrakant Bhole SEBI Registration No.: 1NM000008704
COMPANY SECRETARY & COMPLIANCE OFFICER
Karvy Coniputershare Private Limited Mr K Venkatara man Plot No. 17 to 24, Vitt alrao Nagar , Madhapur , Hyderabad -500086. G-3A / 4-6, Kamanwala Chambers , New Udyog Mandir —2 , Mogul Lane , Mahim (West), Mun,bai — 400016. Tel: +91 223980 4818/17 , Fax: +91 22 3980 481g . E-mail: dbipo imc I.co.i n Ka Compterdare PrtateUrntcd Tel: 1-800-3454001, Fax: +91 40 2342 0814, Email:
[email protected] , Website : .karvy .com , Contact Person: Mr. Murali Krishna Investors can contact the Compliance Officer in case of any pro-Issue or pest-Issue related problems, such as nonreceipt of letters of allotment, credit of allotted EquityShares in the respective beneficiaryaccounts and refund orders. SEBI Renistration number: 1NR000000221 AVAILABILITY OF RED HERRING PROSPECTUS: Investors are advised to refer to the Red Herring Prospechis, and the Risk Factors contained therein, before applying in the Issue. Full copy of the Red Herring Prospectusisavailableatwww.sebi.gov.in andwebsitesof BRLMs ,BSE , NSE , atwww.onam.coni,w .citibank.co.in,www.kotak.com, w.bseindia.com,www.nsoindia.com respectively. AVAILABILITYOFAPPLICATION FORMS: Bid-Cum-Applicaflon form can be obtained from DB. Carp Limited, BRLMs: Enam Securifles Private Limited, Tel. No: +91 22 66381800, Fax No: +91 22 2284 6824; Citigroup Global Markets India Private Limited , Tel. No: +91 22 6631 9890 Fax No: +91 22 66466054; Kotak Mahindra Capital Company Limited, Tel No: +91 22 66341110, Fax No: +91 22 2283 7517. Syndicate Member: Kotak SecuritiesLirnited, 3rd Floor Bakhtawar , 229 , Nanman Point, Mumbai400 021, India.Tel: +91 22 66341110, Fax: +91 22 22837517;Avendus Capital Private Limited, IL&FS FinancialCentre, 5th Floor, B Quadrant , Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel. No: +9122 6648 0950, FaxNo: +9122 66480940; Centrum Capital Limited, Centruni House, CST Road , Vidyanagari Marg, Kalina , Santacruz(East), Murnbai 400098. Tel. No.: +912242159000, Fax No.: +912242159707 and atselected locatonsof the Sub-Syndicate Members participating in this Issue. APPLICATIONS SUPPORTED BY BLOCKED AMOUNT (ASBA): Investors may apply throughASBA. Presenty, ASBA can be availed only by Resident Retail Individual Investor’, i.e., a resident investorapplying for an amountuptoRs.1,00 ,000/-and biddingatcutoff pricewith single option astonumberof equitysharesbidfoi . The investoris required tofill the Bid-cumASBAform and submitthe sametotheirb ankwhich intumwill blockthe amount in the account as perthe authority contained in Bid-cum ASBAfomi and undertake ottiertasks as per the specified procedure. On allotment . amountwill be unblocked and account will be debited onlyto the extent required to be paid forallotmentof shares. Hence, therewill be no need of refunds. Bid-curnASBAfomi can beobtainod from the list of banks thatisavailable onthewebsite ofSEBl at w.sebi.gov.in Fordetails aboutASBA,please referto thedetailsgiven in Bid-cumASBAform, abridged prospectusand the sect on “Issue Procedure -TheASBAProcess’beginningon page no 398 of theRed Herring Prospectus. BANKERS TO THE ISSUE AND ESCROW COLLECTION BANKS: ICICI Bank Limited, HDFC Bank Limited , Yes Bank Limited,Axis Bank , Kotak Mahindra Bank , Hong Kong and Shanghai Banking Corporation Limited and Standard Chartered Bank. D.B. Corp Limited is proposing, subject to market conditons and other considerations, a public issue of its equity shares and has flied a Red Herring Prospectus with Registrar of Companies , Ahmedabad , Gujarat.The Red Herring Prospectus is availableon thewebsite of SEBI atw’ .sebi.gov.in and the respective websites of the Book Running Lead Managers at www.enam.com www.citibank.co.inandwww.kotak.com. lnvestorsshouldnotethatinvestnientin equityshares involvesa high degreeof riskandfordet ails relatingtothesame , see the section titled ‘Risk Factors’beginning atpage nuniberXof the Red Hening Prospectus. This announcementdoes not constitute an ofterto sell or a solicitation of an offerto buyany security. This is notfordistribution orci rculation . directlyorindirectly, in orintothe United Statesarin anyotherjurisdiction wheresuch distribution orcirculation is prohibited. This is not For D.B. Corp Limited an offer of securities for sale into the United States or any other jurisdiction. The securities may not be offered or sold to persons in the United States or other jurisdictions absent On behalf of the Board of Directors registration oran exemption from registration.Any public offering in the United States maybe made only by meansof a prospectus that may be obtained from D.B. Corp Limited and that Sd/wilicontain detailed informationaboutD.B. Corp Limitedand management, aswell asfinancial statements.Therewill beno publicofferof securitiesinthe United States. Managing Director
CORPORATE
6
Dalmia, Indiabulls settle dispute
RIL to decide on Lyondell bid today Decision To Be Based On Outcome Of The Hearing By Bankruptcy Court Of New York
Our Bureau MUMBAI
DELHI-BASED businessman Sanjay Dalmia has reached an out-of-court settlement with Indiabulls Financial Services over a dispute on his alleged attempt to dupe the Mumbai-based firm by mortgaging bogus property documents. The lawyers of both parties on Monday informed the Bombay High Court about the amicable solution of the dispute. The high court has granted the prayer of Mr Dalmia’s lawyer to keep the proceedings against Mr Dalmia in abeyance and not take any coercive action against him. Indiabulls had lent Rs 225 crore to the Dalmia group companies, according to a FIR filed by Indiabulls with the Mumbai police in July this year. Mr Dalmia had allegedly provided bogus security worth Rs 70 crore for the loan. According to the settlement formula, Mr Dalmia will pay Rs 232 crore to Indiabulls, said a person close to him. Of this, Rs 25-crore will be paid this week, while the balance would be paid in installments over a year, he said.
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TO LET WEST INDIA
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Our Bureau MUMBAI
R
ELIANCE Industries (RIL), on Tuesday, will decide on submitting a financial bid to buy LyondellBasell, based on the outcome of the hearing by the Bankruptcy Court of New York South District of rescue plans proposed by the management team of the world’s thirdlargest petrochemical company, said a person familiar with the matter. India’s largest private sector company on November 21 said it offered a non-binding bid to acquire the troubled petrochemical company. Lyondell-
COURT RULING
Bassell management is expected to seek time till September 6, 2010 to finalise the reorganisation plan which it submitted last week. Under the US bankruptcy laws, the final approval of the reorganisation plan vests with the court. “RIL will wait till Tuesday evening to take a final decision,” said the person. An RIL spokesperson declined to comment. According to the filings with the New York court, LyondellBasell debtors have sought the court’s approval to a plan which seeks a $2.5-billion fund infusion by way of rights issue to its current owners — Apollo, Ares and Access Industries. In the filings, LyondellBasell
has projected a 45% drop in its revenue from $50 billion in calendar 2008 to $27.7 billion in calendar 2009. For 2010, Lyondell’s revenues would be stable at $28 billion. The foreign company is also expecting its margins to contract from 6.5% in 2008 to 4.8% this year. LyondellBasell said its fortunes would turn around by 2011 when it would record a revenue of $34 billion with EBIDTA margins at 5.8%. The petrochemical giant is spending close to $573 million in restructuring its operations in this calendar year. Analysts said Reliance could make a lower bid considering
the projected drop in revenue of LyondellBasell. JP Morgan Chase is helping RIL to secure finances for the deal. Though RIL is yet to carry out due diligence, its executives had a few rounds of meeting with the LyondellBasell management. Last week, RIL’s senior executives and officials from the petrochemical major met in a hotel in Houston, according to reports in the international media. RIL did not make public its bid size, although, the market has been rife with speculation that the enterprise value of its bid could be between $10 billion to $12 billion. (With inputs from Ajaya Sharma)
After Satyam,Telangana gives Brand Hyderabad a big jolt Future Of State’s High-Profile Education Sector & IT Business Comes Under Cloud MV Ramsurya & Krishna Gopalan MUMBAI
BRAND Hyderabad, in the conceivable past, is a topic that has come up for pretty intense discussions. Starting with the financial misdemeanours at Satyam Computer to a possibility of the formation of what could come to be known as Telangana, Hyderabad’s brand value story has been under some scrutiny. Would Hyderabad brand be as robust as it is today if Telangana takes form and shape? Would the bifurcation of Andhra Pradesh have a bearing on some of the city’s high-profile educational establishments like the Indian School of Business (ISB), the International Institute of Information Technology (IIIT) and the Indian Institute of Technology (IIT)? These questions are increasingly becoming critical and solicit quick answers. For many years, Hyderabad was synonymous with the Biryani and its own inimitable lingo that many people in the entertainment business took a fancy to. A lot of the past has remained unchanged even as the city has quite easily moved into the zone of fast development. Education and information technology (IT) have been among the key ingredients to Hyderabad’s success recipe for about a decade now. It recently had its own IIT, which is only the second in South India after Chennai. There is also the much-acclaimed Centre for Cellular and Molecular Biology (CCMB), apart from a
plan to set up Stanford University’s offshore campus, with the objective of providing affordable healthcare to people. Here’s the rub. The decisions on setting up an IIT or an ISB were taken on the strengths of the city. The potential emergence of Telangana, with Hyderabad as its capital, could well take some sheen off Brand Hyderabad. “The formation of Telangana is not positive to Brand Hyderabad,” says brand strategy specialist Harish Bijoor. “It causes dissonance on the brand...affects the image of Hyderabad as a secular, modern, relatively peaceful and infrastructure-enabled entity. Chauvinism and jingoism are
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bad for any city brand in modern India,” he feels. As a consequence, education in the city, which received a fillip under Chandrababu Naidu, may be in for a rough patch. Compared with other cities in the state like Visakhapatnam and Vijayawada, Hyderabad has held its own, without much ado. According to wellknown cricket commentator and someone who has spent his formative years in Hyderabad, Harsha Bhogle: “The city is a jewel in the crown for Andhra Pradesh. While there have been other cities, Hyderabad has clearly emerged as the commercial centre. Today, Brand Hyderabad stands for education and IT.” Take the case of ISB, which was set
up under the stewardship of Mr Naidu and rode on his popularity. Things, however, changed in 2004 after Mr Naidu was voted out. ISB’s acceptance among international students took a beating. “For the first batch, despite all the hype and collaborations with business schools like Wharton and Kellogg, ISB could manage only a foreign student; a Chinese,” said a past student. This erosion in the brand was refuted by ISB. Responding to a questionnaire, a spokesperson for the institute said: “As an institution providing world class management education, ISB has, over the years, been encouraged by governments, both at the Centre as well as the state. We believe, there will be no impact on the school and its mission, irrespective of the outcome of the current issue.” How the possible bifurcation of the state will play out on the education front remains critical since this is one area that has propelled the Brand Hyderabad story. Some academics think there could be an issue in the immediate short-term. Professor Rajeev Sangal, director at the IIIT says, “Uncertainty affects things like people deciding to work here or those looking to make investments. Perceptions change sometimes. In the short-term, this news development could have an effect if things are not handled properly.” Interestingly, the Brand Hyderabad story, as Mr Bijoor puts it, was set in motion by NT Rama Rao. “He actually carved for Hyderabad a unique modern identity as brand Hyderabad, and brand Andhra Pradesh,” he says.
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With Christmas and New Year approaching, bookings for the year-end holidays have started pouring in. Tour operators said bookings for travel packages have increased by about 20% over the last year. With the economy showing signs of revival and stability coming back to India Inc, families are once again opting for holidays, both domestic and overseas. The year-end is the second-largest holiday season for Indians after the summer months as school kids get longer breaks. Traditionally, during winters, hoteliers and tour operators increase rates in India and abroad. However, this time around, travel package rates are cheaper than 2007, as occupancy level is still low. STIC Travel Group director Richa Goyal Sikri added: “Prices are almost 20-25% lower compared to a year-ago period.” Echoing the same sentiment, Neelu Singh of Ezeego, part of Cox & Kings, said: “Prices have definitely not gone up. At certain places, it has remained stable
while in Europe and South-East Asia prices have dropped slightly.” While domestic destinations such as Kerala, Rajasthan and Goa, among others, continue to remain hot spot, outbound tourism numbers, too, are set to pick up this season. South-East Asian destinations, such as Hong Kong, and Sri Lanka are increasingly featuring in people’s holiday list. “Short-haul destinations like Mauritius, Maldives, Hong Kong and even some long-haul destinations like Australia and New Zealand have got takers now,” said
Kashmira Commissariat, COO (outbound division), Kuoni India. A 3-nights/4-days trip to Singapore could cost an estimated Rs 35,500 (all inclusive) per person, which includes free stay for one kid. The same trip could have cost a person close to Rs 43,00-45,000 in December last year. Similarly, Hong Kong would cost close to Rs 22,000 per person for a 4nights/5-days trip. Destinations like Sri Lanka and Dubai work out even cheaper. A 3-nights/4-days trip to Dubai would cost an estimated Rs 15,000 per person.
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THE pickup in the travel industry has encouraged industry players such as Cox & Kings and Stic Travel to scale up their operations to meet the increased demand. Travel houses have seen increase in bookings in both the business and leisure space, following an improvement in the economy and business sentiment. Though swine flu is still a health scare, it is no longer affecting travel. “We are increasing our team members pan India across departments. This time we would though be a little prudent while hiring,” said STIC Travel Group director Richa Goyal Sikri. The upcoming Commonwealth Games is also expected to boost incoming travel, hit hard because of the global meltdown and the Mumbai terror attacks last year. “Next six months look promising. We are looking to expand our franchisee network from 56 now,” said a Cox & Kings executive, asking not to be named. As per an estimate, outbound tourist traffic has grown 8-10% since September this year, after the onset of festive season. The number of foreign tourist arrivals is, however, yet to keep pace with domestic traffic. The ancillary service providers to the travel and tourism sector are also enthused by the signs of pick-up in demand for hotel rooms and air-travel. Hotel occupancy has surged 20-30% in the last few months.
BID PROCESS RIL on November 21 said it offered a non-binding bid to buy the troubled petrochemical co Lyondell management is expected to seek time till September 6, 2010, to finalise the reorganisation plan Under the US bankruptcy laws, final approval of reorganisation vests with the court
Bajaj FinServ may foray into home-loan biz Nandini Sen Gupta NEW DELHI
BAJAJ FinServ, the Bajaj group’s financial services arm, is looking to widen its footprint to businesses as diverse as home loan and construction equipment financing as the ‘next logical step’ in its expanding bouquet of services. “We already offer secured loans against property and we are the fourth-largest in that segment. We are now evaluating getting into the home loan business, though we have not taken a final decision yet,” Bajaj Finserv managing director Sanjiv Bajaj told ET. Two of the planned diversification moves are slated to take off next year. “We will start offering retail loans against shares next year and we are also entering the construction equipment financing business. FinServ may even look at commercial vehicles when sister company Bajaj Auto diversifies its portfolio,” Mr Bajaj said. FUTURE Already, Bajaj FinServ has exCOURSE panded into two new businesses this year. In April 2009, Bajaj FinCo also plans to Serv signed an agreement with inenter construction surance partner Allianz for an asset equipment financing management company (AMC). Baas the next logical jaj Financial Solutions, a 100% financial products, services distribustep in expanding tion and advisory offshoot, was set its services up later. “We want to tap into a new set of customers with these businesses,” said Mr Bajaj. “Currently, 90% of the AMC business is in the top six cities, but we want a low-cost delivery system to access the next level of customers outside of those six cities,” he added. Ditto for the financial advisory business. “Today, that business too is very high-end, but we want to look at the middle class and build some simple products for that segment,” said Mr Bajaj. The advisory business, for which the business plan is being finalised and should be ready in 3-4 months, may also include brokerage. “It could cover both equity and non-equity, and should be ready for launch by mid-next year,” Mr Bajaj said.
NTPC’s coal woes unlikely to end soon million tonnes, if its proposed projects are added, the coal requirement would increase by STATE-OWNED power prod- at least 125 million tonnes. ucer NTPC’s woes over shorta- NTPC declined to comment ges of coal may not end soon. on the story. The state-owned utility is Though the company is impofacing an acute rting 12.5 million shortage of coal as tonnes of coal ROAD procedural and over the next 12 infrastructural months, going by BLOCK bottlenecks have the power utility’s Co is facing requirement, this, shortage of coal as delayed its captive coal mining plans, too, is likely to fall procedural & while an inshort and impact creased demand generation capa- infrastructural globally has inflatbility. Also, uncer- bottlenecks have ed the cost of actainty over an in- delayed its captive quisition of coal crease in coal sup- coal mining plans mines overseas. plies, from its NTPC has commissioned a largest supplier Coal India, could likely compound to the 500-mw unit at Kahalgaon in utility’s woes, say people fa- June 2009 and in the current miliar with the development. fiscal, it is expected to commiNTPC, which has an in- ssion the 1,320-mw Sipat unstalled capacity of 30,644 mw, it, 500 mw at Korba and 980 is planning to add 3,300 mw mw at Dadri. “By 2012, of power in 2009-10 alone. NTPC’s coal needs will shoot While its current annual req- up by at least 125 mt a year,” uirement of coal totals 150 said a company executive. Dibyajyoti Chatterjee MUMBAI
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EN years ago, the world’s biggest IT company then, IBM, did the unthinkable: it struck a deal with a company in India (Cadbury) to take care of its IT needs. It was one of the country’s first domestic IT outsourcing deals. The rest, as they say, is history. More than a dozen such deals later — including the game-changing contract with Bharti Airtel — IBM is the king of the hill in domestic IT outsourcing. Recently, ET NOW’s R Sridharan caught up with Shanker Annaswamy, regional general manager of IBM India & South Asia, to talk about Big Blue’s journey so far and the road ahead. Excerpts: It’s been 10 years since IBM bagged its first outsourcing contract in India. How do you look back on it? 1999 was indeed when we signed the first contract, but 2004 marked the biggest turning point for us — the outsourcing deal with Bharti. It was a $750-million contract, and 2006 followed with Idea cellular and Voda-
fone. I think, we’ve done well. How has IBM, in India, coped with the downturn in the last year and a half? Given the global market conditions and the fact that large deals were not happening, we were looking at our successes here, and asking ourselves how can we replicate the successes beyond the telecom industry. I am very happy to share with you that we looked at customers beyond telecom, to customers like Amul to even media companies like Sun TV. You have a lot of Indian vendors now competing for domestic outsourcing deals. How do you see the competition from India vendors? It took some time for other competitors to look at, understand the model and then go and win one or two accounts. But, if you look at the real strategy behind it, it’s not simple IT consolidation. It is your capability to bring in to-
services. Are they a bigger threat? Industry domain knowledge and capabilities are not built overnight. The differentiator for us is clearly our integration: consulting and system and technology business, like the mainframes and big computers, then the software business, which is an integrating business, then we have services end-to-end.
growing. The large proportion of the employee population is in global delivery missions, and then the IBM Daksh BPO outsourcing processes. The rest of the business will be then the domestic business, research labs, software labs and other groups. At what point would IBM want to de-risk its India strategy? There is no timeline by which we go. It depends on our customers, our clients, their projects, and their core competence and domain expertise that comes in. So, India continues to be a key component of this, and I would expect it continues to grow.
But, what are the other sectors, apart from telecom and manufacturing, that you think will open up to outsourcing within India? BFSI area would be a potential opportunity for us to look at. Public sector will take time. Healthcare could be a huge opportunity, but Shanker Annaswamy In the wake of the recession, is India still it may take some time as well. competitive? ols and asset-based services rather than labour-based services, and bring research to play. IBM’s India headcount, as I understand I think so. We will continue to be so, because is 90,000 or maybe 1 lakh. How does this India has a unique advantage of being a pioneer here and also, it has a large skill base, You also have hardware companies number split up? companies like HP and Dell getting into Actually, we are 73,000-plus employees, and and the track record.
TUESDAY 15 DECEMBER 2009
Service Behind The Scenes Nirula’s engages Trisoft Systems to optimise its production and procurement processes
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O keep up with the demands of the changing market, Nirula’s, a fast food restaurant chain, saw the need for a comprehensive solution to automate its manufacturing, order fulfillment, production planning and vendor management operations. While its retail outlets were automated, the restaurant’s manufacturing operations needed comprehensive automation to optimise manufacturing. This would also help to maintain profitability. Nirula’s needed a modular system which would accommodate all these changes while allowing the addition of new processes and functionalities. Moreover, the new system would have to accommodate these changes by providing structured interfaces to the new modules. Trisoft Systems, a mid-sized software services firm, selected the Microsoft.NET platform to build and deploy a system, known as QuServe, at Nirula’s. The scope of its implementation covered the following areas: Invoicing • Invoicing across the customer base. • Calculation of various taxes. Van Scheduling and Monitoring • Tracking through mobile phones. • GIS-mapped system (envisaged near future).
in
the
Production Planning • Historical data-based requirement forecasting. • Handling of extra-occasional orders from internal or external customers. • Order consolidation and generation of production charts. Production Management • Batch-wise monitoring of production process based on plant capacity and shifts. • Manpower scheduling and defective product tracking. Recipe System • Conversion of production charts to bill of material and storing requisitions. • Storing issued materials with reference to materials received from suppliers. • Recipe generation based on quantity of items ordered. • Requisition generation. • Issue of raw materials with proper reference (product ID). • Textual description of recipe preparation (cook book). • Calculation of nutritional values of finished goods based on the raw materials used and the loss of nutritional value over time. QuServe has been able to effectively and efficiently manage Nirula’s processes. It has helped to reduce order processing time and wastage. Moreover, it has improved production quality, thereby providing improved cost control and materials management. Also, for situations where all the retail outlets are provided with dedicated communications links, the entire supply chain can transact in real time by making effective use of web services based on the .Net platform. The solution is built around Microsoft .Net technology which makes use of C and VB.NET. This provides excellent performance, exceptional scalability and modularity, and utilises open standards like XML, UDDI and SOAP. With Trisoft Systems’ solution in place, Nirula’s is enjoying the benefits of a modular, scalable system capable of meeting its strategic long-term needs.
Access Launches Business Development Services for MSMEs Engaged in Cashew and Kewda Processing
“A Bishnu Prasad Panda, Team Leader (BDS), Access Development Services
CCESS Development Services aims to help cashew and kewda processing units, especially those in the Ganjam and Gajapati districts of Orissa, by offering technology, marketing and value chain improvemnet solutions. The MSMEs can thus enhance their production volumes and the quality of the final product and focus on increasing their turnover in the next few years. The service will help them explore opportunities in the domestic as well as the global markets. We are also working closely with Kerala University to produce manure from waste.”
The Price is Right, Say SMEs Computerised revenue management systems can help the hospitality sector improve pricing and profits
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HE recent economic downturn took a toll on almost every industry, with the impact being stronger in the case of industries like tourism and hospitality. As consumers sought to curb spending, elaborate holidays were among the first luxuries to go. This eroded the overall revenue margins of the industry, forcing hospitality providers to revamp their processes to generate better returns. As the Indian hospitality sector is on its path to recovery, hotels in India, particularly small and medium enterprises, need to adopt new technologies and upgrade existing ones to improve their operational efficiency. Of the problems facing the hospitality industry, a major issue is revenue management (RM). The hotel industry typically categorises clients on the basis of their spending capability. Since the demand pattern for each of these categories is a function of multiple parameters, it becomes difficult for hoteliers to accurately project and simultaneously meet customer demands in a profitable manner using manual methods. “Hoteliers in general do not have the technology to accurately predict client potential, and thus, cannot develop a pricing strategy to optimise the capacity and revenues,” says MR Gautam, Executive Director, Velan Hotels. For example, a business executive pays a higher rent in exchange for the flexibility to book accommodation at the last minute, while a vacationing customer prefers a cheaper accommodation while compromising on flexibility of booking. Thus, discerning who is the more profitable customer and deciding how to accommodate him poses a challenge. Hence, the hospitality industry, especially SMEs, need a computerised RM system that can analyse their track records and help them formulate their pricing decision. This will optimise revenue generation in terms of pricing and occupancy through efficient data tracking, demand forecasting and decision-making. “With an RM system, both SMEs and large players can acquire real-time data on booking patterns and accommodation preferences. Realising its benefits, we have also implemented a computerised RM system,” adds Mr Gautam. This is essential to analyse customer behaviour, which leads to better promotion and pricing decisions. RM Systems—A Revenue Booster RM is a scientific technique which uses mathematical tools such as operations research and statistical analysis as well as Customer Relationship Management (CRM) to analyse customer data for improved decision-making. This helps hotels to accurately forecast demand and pricing data, and, hence, distribute inventory optimally.
type of hotel accommodation. Based on this identification, the pricing scheme for the room is finalised differentially. “Market segmentation is a vital practice for hotels to expand and increase their revenues. To facilitate market identification, software-based RM systems create complimentary price-points by setting physical and logical boundaries around different market segments,” says Dr Prem Kumar, GM, Research and Business Analytics, Karvy Global Services, a company providing services in the RM systems domain. The second step in RM implementation involves forecasting customer demand for various market segments, which forms the basis of deciding the pricing patterns. While forecasting the demand, it is important to consider that pricing and demand are co-related and the demands in hotel industry are cyclic. According to Nirmal Khandelwal, Director, FCML, a renowned solution supplier to the hotel industry, “Software-based RM systems can be implemented to acquire accurate demand forecasts in case of cyclic demands, as these are more precise as compared to manual demand forecasting methods.”
Nowadays, software-based RM systems can perform computerised analysis of data according to the requirements of individual hotels. A few leading providers of such RM solutions in India include Oracle and Phoenix IT Solutions. Based on mathematical algorithms such as Littlewoods and Expectation Maximization, software-based RM systems can perform analytical tasks with great accuracy and efficiency. The steps discussed below should be followed for successful implementation of such RM systems. Market Segmentation and Demand Forecasting It is the first phase in the implementation of an RM system for hotels. This involves the identification of different market segments possible for each particular
SYNOPSIS • Efficient demand forecasting is essential to improve the profitability of the hospitality business. • Software-based RM systems can provide assistance in vital activities like pricing, market segmentation and inventory allocation. • Such solutions are important for SMEs, who operate on narrow margins and maintain lower inventory levels.
second-largest producer of food in the world, India has great potential in the sector with respect to new and upcoming processing industries. Processing fruits and vegetables means canning, drying and freezing produce or preparing juices, jams and jellies. The main problem with raw fruits and vegetables is their limited shelf-life. The techniques mentioned above increase the shelf-lives of fruits and vegetables. Since 2000, the food processing industry has witnessed significant growth: Q: I would like to set up a plantation ready-to-serve beverages, fruit juices and and start a food processing unit. pulps, dehydrated and frozen fruits and Kindly guide me about the fruits I vegetable products, pickles, processed should look at and their demand in the mushrooms and curried vegetables are becoming increasingly popular. Most units Indian and export markets. A: According to a recent survey by the engaged in these segments are profitably Ministry of Food Processing Industries export-oriented. Fruit pulp and vegetable purees have (MOFPI), although the production of fruits and vegetables in India has great demand and are used as fillers in increased two-fold in the last ten jams and ketchups. However, due to the years, only 2.2% of the total produce seasonal availability of fruits, storage of in the country is processed. As the the jam produced may present a problem.
The Food Safety and Standards Act, 2006
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HE Food Safety and Standards Act, 2006, deals with the guidance and regulation of practices in the manufacture, marketing, processing, handling, transportation, import and sale of food. By consolidating eight laws governing the food sector and establishing the regulatory Food Safety and Standards Authority (FSSA), the Act provided for scientific standards to bring transparency to the dynamic food trade industry, as well as to international trade practices. The Act is a contemporary, comprehensive attempt to ensure better consumer safety through food safety management systems. Some of the prominent features of the Act include the movement to an integrated line of command, integrated responses to issues like genetically modified foods and international trade. Licensing for the manufacture of food products is the responsibility of the Commissioner of Food Safety. The Act provides a single reference point on all matters relating to food safety and standards and promotes a shift to self-compliance on the part of manufacturers through food safety management systems. The Act places responsibility on food business operators to ensure compliance with domestic food laws and specifies the penalties in case of contravention of the laws. It provides for graded penalties depending on the gravity of the offence. The law deals with international food safety standards as well as risk assessment, communication and management. It has special provisions relating to genetically modified food items. However, the insufficient expertise and technical facilities in the country make it difficult for the Indian food industry to follow the Act. The organised and unorganised food sectors are expected to follow the same rules, for instance, with regard to specifications on ingredients, traceability and recall procedures. The power to suspend the license of any food operator is retained with a local-level officer. Moreover, participation of technocrats in the FSSA is limited, with little industry interface.
The small and mid-sized sector is one of the vital cogs in India’s wheels of progress. If you wish to know more about the sector, or how you can be a part of it, do send in your questions to us at
[email protected]. Every week, our panel of experts on the Podium will answer your queries and throw more light on the finer aspects of this sector.
Inventory Allocation This step involves the allocation of particular number of hotel rooms to different market segments as per the forecasted demand. The phase is difficult to implement because the ratio of discounted rooms to the regular-priced rooms is not fixed during the reservation period. “To solve the problem, both SMEs and big players can implement a software-based RM system to make price adjustments as the date of stay approaches. This is thanks to the system’s capability for extensive data analysis on real-time basis, which is impossible manually,” adds Dr Kumar. Moreover, modern-day RM systems can also help in judging the opportunity costs associated with discounted rooms and regular-priced rooms. For example, it helps the manager evaluate the options when a customer approaches the hotel for a discount price, although another customer might come at a later date and pay a higher or regular price for the same accommodation. With the Indian hospitality industry transformating into a more dynamic domain, it has become necessary to bring in appropriate technological upgrades to accommodate emerging demands. Implementing technologies such as an RM system can bring about drastic improvements in decision-making and revenue generation. – Payal Agrawal
There is a huge opportunity for 100% natural juice in the Rs 500-crore fruit juice market in India. Health juices from amla and aloe vera, blended with natural flavours, also have good domestic and export prospects—especially the European and North American markets. Many fruits and vegetables may be diced, coated with sugar and vacuum-dried to be used as raw material for inclusion in ice-creams and other sweets. These may also be packed and sold as fruit candies. An important emerging opportunity is agro-products associated with health and wellness. Health spas and other upscale hospitality and lifestyle concerns as well as specialty stores may are now stocking a good deal of dehydrated fruits and vegetables.
enforces the Food Product Order (FPO). This license is mandatory for processing fruit and vegetable products. MOFPI also supports new and upcoming SMEs by providing support through the dissemination of technical knowledge. It has devised and implemented several schemes for installing and upgrading food processing units, creating additional infrastructure and supporting R&D and human resource development. The National Horticulture Board has schemes for production and post-harvest management, capital investment subsidies for setting up and modernising cold storages, technology development and transfer, establishing nutritional gardens in rural areas, providing pertinent market information services and to produce promotion services.
Q: What are the legal implications for this and can I avail of any government Responses by Swatantra Chhabra Kalra, incentives or support for the same? A: The Directorate of Fruits and Vegetable CEO, Truly Natural, Preservation, set up under the MOFPI, a food ingredients company
Satish Agarwal, CMD, Kamdhenu Ispat Ltd.
TU ESDAY
THE ECONOMIC TIMES MUMBAI
GREAT LEADERS ARE… … great visionaries. They are highly focused towards their goal and let others see it through their eyes. This is how they motivate their team, inadvertently earning the position and power to lead. In every endeavour, great leaders strive to excel their accomplished standards of performance. Moreover, they don’t impose their views on others, are unbiased and are able to take balanced decisions. Leaders are not born by virtue of birth as a legacy to a family of great leaders. Leadership qualities have to be acquired and developed.
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...IN GOOD COMPANY Abhishek Vinod Singh, CEO & cofounder, Nitin Kumar Verma, cofounder & COO, Kapil Tyagi, cofounder & CTO and Konark Singh, co-founder & board member of SKAN DbyDx started their entrepreneurial journey together by starting SKAN DbyDx – an IT start-up, a few years ago. “We know each other since our IIT days and we all harboured a common inclination towards entrepreneurship. Since our college days, we aimed to do something on our own and we all waited for the right time and desired to reach a stage in our lives when we are equipped with the right level of experience before getting started,” says Abhishek Vinod Singh, cofounder & CEO of SKAN DbyDx. At SKAN DbyDx, each of the cofounders has a different role to play. “As a CEO, I handle global sales and client relationship. Verma manages
WHAT REALLY ‘TURNS ME OFF’… … about the people I work with is their deceitfulness. I might tolerate even the inefficiency of someone in my team to an extent, but false comments under any circumstances are just unpardonable. I think the ability to accept your failure is a trait as it requires courage and moreover, when you accept your failure, it makes you more committed towards your efforts. I TAKE A LOT OF INSPIRATION FROM… … the persona of Ratan Tata. I consider him to be one of the most effective of all contemporary business leaders. Not only his management skills have been instrumental in establishing the Tata Group as one of the leading business ventures in the world, but also his dedication for moral and ethical business values have made Tata the most respectful corporate entity globally. - Yasmin Taj
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The premier business school of India,IMT Nagpur is looking for academic professionals in all areas of management .The ideal candidate would be a Ph.D. from a reputed institute/university OR a practicing managerwith substantial industry experience . At IMT- N, faculty members are expected to undertake: Teaching, Research, Consultancy, Executive Education Pmgrams as well as other institution building activities. The emoluments offered are commensurate with qualifications and experience and shall not bee constraint forthe right candidate.
The Director, ABC Division , Department of Information Technology, 6, CGO Complex, Electronics Niketan, Lodhi Road, New Delhi — 110 003. Last date for receipt of applications: 22nd February, 2010 Head , Corporate HRD, C-DAC
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A SWEET ASSOCIATION Akhilesh Bali, Shashank Agarwal, Rachit Mehra and Ashutosh Dixit were from different backgrounds be-
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The School has academic collaboration
arrangements with the State University of New York , at Buffalo (UB) and is a member of the European Union , Erasmus Mundas exchange programme for students and scholars . Around 50 UG and PG students and 10 faculty members have already taken part in the programme . ASB offers MBA programme at four locations: Amritapuri , Bengaluru , Coimbatore and Kochi.
Snecialisatlons offered
• FiNance • Marketi ng • Systems
• • •
HR OR Operatio ns ITES Management -
-
ASB also has launched its part time Ph. D. programme in Management .
•
A multi-campus
ASB invites ap nlication s from candidates with uroven merit and exuerience for the followin g pos iti ons.
FACULTY POSITIONS
Applicants must have Ph.D . or equivalent qualifications in the subject area with an excellent track record in academics and !or industry as well as publications in reputed international journals . The school offers excellent opportunities for research and academic growth for bright individuals . CIC will range between Rs. 7-14 Iakhs p.a. for the right candidates.
HEAD PLA C EMENTS & PLA C EMENT OFFI C ERS -
Head -Placement will be responsible for summer and final placements at all four locations and will be supported by a PlacementOfficer at each location . Applicants must have an MBA from a reputed institution . For Head-Placement , a minimum relevant expenence of 8 -10 years is required. For Placement Officers about 2 years of experience is essential. Salary is negotiable.
EXE CU TIVE ASSI STANT to DEAN
The candidate must have an MBAfrom a reputed institution with high, firstc lass marks . He/she should also have good communication ability both in spoken and written English . Those intereste d in pursuing Doctoral education in Managenentwill have an edge overothers. He/sh e will assistthe Dean in his academic/researc h administration processes. Salary is negotiable. Please appl y within 15 days from the date of advertisement , to
Director (HR), A mr ita Vish w a Vidyapeetha m,
Ettimadai Pa., Coimbatore 641 105, TN. Tel: +91 422 2685000. e-mail:
[email protected] -
university
1
We are ISO 900t:2000 Certified one ofthe most respected engineering company , leader in contact parts for Electrical Switch gear industry. We are one of the largest manufacturer of contacts for Low & High voltage switch gearin lndia.To maintain ourgrowth we have expanded our manufa cturing facilities at all our locations. We need dynamic and resultoriented professional to powerth is qrowth.
(A Govt. of India Ent erprise) ) iI Office SIj . , Tolstoy Regd. Jawahar Vyapar ahawan Marg, • , Il)i New Delhi-h i! hiT IIuIiI O 001 Tel.: 23313177
STC invites applications to fill-up the following posts in General Category:1. Chief General Manager (Finance) 01 (Rs. 51,300-73 ,000) 2. General Manager (Marketing) 01 (Rs . 43 ,200- 66 ,000) 3. Company Secretary Cl (Rs, 32,900-58,000) 4. Deputy General Manager (Marketing) 01 (Rs, 32,900-58,000) 5. Depu ty General Manager (Law) 01 (Rs. 32,900-58,000) 6. Manager (Law) 01 (FIs . 24 ,900-50,500) The detailed requirements of each post may be seen at SIC’s w ebsites www .stc .gov .in & www ,tenders .nov .in. Interested candidates may send their application to Box No. DEL 227410, limes of India, Bahadurshah Zafar Marg, New Delhi - i10002 , latest by 07.01.2010.
VICE PRESIflENT MARKETING (Location: Munibai) —
Job description:- The candidate should have experience in sales & marketing of Industrial Products. The candidate should be well versed in handling all function of business, which include business strategy, p l a n n i n g ,budgeting,customer relationship.The candidate should possess leadership quality to drive growt h and market expansion with view to increasecompany ’s marketshare. Qualification:- MBA in Marketing with BE. (Electrical/Mechanical) with minimum 15-20 years experience in sales and marketing of Industrial Products and should have worked as marketing head at least 3-5years fora size above lOOcrores.
Salary for the above position will commensurate with experience &
qualification. Interested candidate can send their resume and present cornpensationthroug h email orbycourierto:
President (Operations),
33 ,
Modison Metals Ltd.
Nariman Bhavan, 227 Nariman Point , Mumbai—400 021 Fax: (022) - 22048009 Email:
[email protected]
Bajaj Hindusthan Ltd. (BHL), is the Number One sugar and ethanol manufacturer in India. The Company also has power co-generation capacities of 420 MW across its Units , most of which is used for captive consumption . BHL has now embarked on a major diversification initiative in the power sector and is in the process of establishing independent power generating facilities. The initi al project is a 500 MW Thermal Plant in North India. To achieve our ambitious objectives , we invite professionals to join a motivated and committed team for the following opportunities. All positions are based at our Corporate office at Noida , unless specif ied.
Chief Executive Officer
The candidate should possess exemplary leadership skills , demonstrated execution capabilities in the power sector and comprehensive across the board knowledge relating to power project execution from conceptualization stage to commissioning. Ideally, the candidate will be from an accredited engineering background with 25-30 years’ expenence and the ability to work in a demanding environment. He will lead a multi disciplinary team.
Chief Technical Officer
The candidate would be responsible for all technical aspects related to establishing the power project , ranging from equipments to process to transmission. The candidate will assist the CEO in monitoring the technical aspects related to the project during the process of construction , commissioning and the O&M thereafter. Candidates with 20-25 years’ experience in the aforesaid areas, particularly with power projects of 500 MW and above will be preferred. It is expected that the candidates would have a minimum of 20 years’ experience and educational background and professional achievements commensurate with the scope of work envisaged. Preference would be given to qualified B.E. / B.Tech engineers in Electrical Engineering.
Head
Amrita School of Business (ASB) (ASB) isa constituent school ofAmrita Vishwa lishwa Vidyapeetham , a University headquartered at Coimbatore with four satellitecampuses located atAmritapuri (Kollam), Kochi ,Bengaluru and Mysore.
Jll
THE STATE TRADING CORPORATION OF INDIA LIMITED lr F
[email protected]
excellent command of written and spoken English to
Institute of Management Technology, Nagpur 603 , Khullar Apartments, Byramji Town NAGPUR- 440 013, INDIA
D b I I CDL I Hyder b d (So
Kiran Konduri, co-founder, asklaila and Shriram Adukoorie, co-founder, asklaila know each other for more than 15 years now and they translated this strong bond between them into a successful business when they launched asklaila – a local search engine. According to Konduri, when you start something as a team, know-
jo in as:
CONTACT Dr. Rajendra Nargundkar , Director
r I
TEAM PLAY, THE KEY
ing each other well is very important. “Since we know each other for long, we know our strengths and understand each other well and hence, we have mastered the art of striking the right chord between our professional and personal relations. This helps a lot in our business too,” adds Konduri. Adukoorie says that it is always beneficial to have more people in the founding team of a venture. As you have more people, there are several minds working at the same time. Also having another person to support you and guide you is advantageous, especially in a start-up. Even then, both of them agree that there are chances of disagreements when you have many people.
India’s fastest growing English News Magazine invites
Limited accommodation on campus
gp
point being accepted. If not, then we go with the decision made by the person responsible for that particular function. For instance, Tyagi, being the CTO will get more weightage on any decision regarding technology,” explains Singh. “Functions like sales, technology, finance, etc require different skill-sets. Having multiple founders help in managing these functions with ease. Another advantage is that we get multiple solutions for a single problem,” adds Singh.
fore they started MithaiMate – an online portal that sells traditional Indian sweets. “Three of us wanted to start something on our own and thus, we conceptualised MithaiMate and the fourth person joined us at a later stage,” says Akhilesh Bali, founderpartner, www.mithaimate.com. In order to create a clarity of operations and manage the business at different locations, the founders have different roles and responsibilities distributed within the organisation that are also spread across different locations. The communication between founders mainly happens through skype calls on a daily basis. “When we stared our firm, there were a lot of uncertainties; so having a good support system was always good. Also, we left our day jobs one after another so as to ensure that if at all something goes wrong, we have the salary of the other person to survive. Since there were three other people supporting me, it made me more confident,” explains Bali. According to Bali, the founding team must have some kind of arrangement between themselves to sort out issues and work together. Also, Bali says that they never allow business to come in-between their friendship. These entrepreneurs go on to prove that the age-old adage, “too many cooks spoil the broth” may not necessarily ring true in today’s times!
young,highly informed and enterprising journalists with
HIGHLIGHTS OF IMT- NAGPUR: Listed among top 20 B-schools in the country - State-of-the-art fully residential campus spread over 27 acres E- libra ry and Wi - Fi connectivity across the campus
I N
IN SUCCESS
JOURNALISM WITH A HUMAN TOUCH
The institute also invites applications from persons holding MBN PGDM or a Masters degree in relevant discipline for positions of Research Associates. Responsibilities include independent research , supporting faculty or Centers academicall y . Interested candidates , meeting the requirements , are requested to apply with detailed resume indicating area of specialization and names of two referees , within 15 days.
Gh I b d
CDAC
Centre for Development of Advanced Computing (C-DAC), a Sc ie ntific Society of the Department of Information Technology, Ministry of Comrnunica ons and lnforrna on Technology, Government of India invites applications from highly
,
FUTURE LEADERS NEED GURUS
-
the operations and finance divisions while Tyagi manages the technology bit. Konark brings with him the vision and strategic inputs that play a key role in our development,” explains Singh. This has brought in clarity on the roles and responsibilities of each person. Even then, running a company together has its own challenges. “For us, conducting decision-making meetings are a huge challenge. Different people think differently; they have different opinions and styles of working,” says Singh. But the team has figured out a way to manage these differences that sometimes tend to exist. “We let everyone express their opinions freely. We call it ‘being ruthlessly honest’ - we are ruthless in criticising each other and express all our views freely. Then, we discuss together the pros and cons of each viewpoint expressed. These discussions can be heated, at times. However, these discussions result in a particular view-
Director General for
thI
15DECEMBER 2009
Entrepreneurship, today, is no longer a ‘one man/woman’ show. Many entrepreneurs choose to jump into the entrepreneurial bandwagon along with friends, batchmates or colleagues and work together, unanimously towards a common goal- the success of their dream entrepreneurial venture. Priya C Nair chats up with a few entrepreneurs who believe in this ideology and traces their journey together
I DERIVE INSPIRATION FROM… … everything I come across in my day-to-day life; I take inspiration from all the living and non-living things and creatures; I draw encouragement from nature. I read, I observe, I imagine, I interact and I think; this is the way I renew my passion.
__
●
accredited by NAAC with A grade
-
Fuel Supply
The candidate should be an engineering graduate with in-depth knowledge, 20-25 years’ experience and familiarity with all aspects related to coal supply practices and procurements in the country fro m local mines and imported sources. The candidate should also be familiar with the national and state level regulatory framework related to coal, including working experience with various relevant ministries and public sector undertakings in this field. The candidate is expected to assume overall responsibility for inventory management for the plant.
Head
-
Finance
Candidate should be an Associate Member of the Institute of Chartered Accountants of India with at least 20-25 years’ expenence with functional experience in Accounts, Finance, Auditing, Taxation (Direct and Indirect taxes) and Treasury Management related to Thermal Power. Negotiate with all India Financial Institutions and Banks for long term finance for new / expansion projects of the company including monitoring of the existing projects; Project Financial Management System and also capable of effective utilization of project finance. Should possess excellent interpersonal, communication and organization skills with proven abilities in team management and customer relationship management .
GM I DGM I Sr. Manager I Manager
—
Liaison
A graduate engineer having 10-15 years’ of experience in dealing with various Government I Regulatory Authorities related to Power. —
GM I DGM I Sr. Manager I Manager Electrical I Mechanical I Instrumentation / Civil I Design
(Location Noida & sites) B.E. IB.Tech in Elect. IMech. IInstrumentation ICivil Engineering with 10-15 years’ of experience , well versed with
power plant systems and auxiliary design, construction , commissioning and O&M aspects of power plant, design related to the power plant.
structures , piping, roads , bridges , etc
of
We offer an interactive work environment, challenging opportunities and attractive emoluments comparable to the best in the industry. Interested applicants maymai/sendin their resume along with a passport size photograph superscribing the envelope with the position applied for within ten days to —
Vice President Group HR Bajaj Hindusthan Ltd. Bhawan , B-i 0, Sector-3 , Jamnalal Bajaj Marg,
[email protected] —
Bajaj
Noida 201301
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EMERGING BUSINESS & IT
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
9
IT cos spot Rs10k-cr opportunity in govt deals telecentres can help to reach education to rural areas. “School educational telecentres can provide computer and internet-based training along with providing communities in rural India with access to technology. These telecentres will provide schools with additional income opportunities other than government grants and student fees,” the study said. The allocation for NREGS in 2009-10 has increased 144% over the previous year to Rs 39,100 crore. Several technology initiatives have already been launched around it since it TECH SAVVY started in 2006. A Management Information opportunity for IT vendors in this sector can in- System (MIS) has been set up to effectively imclude virtual universities, telecentres for educa- plement the scheme’s goal of providing guaranteed employment for up to 100 days for every tion and even biometric technologies. The FICCI-E&Y study recommends setting rural household. Biometric ATMs have also up virtual classrooms and universities to ensure been set up on a pilot basis in certain areas for continuing education, since working popula- disbursement of wages because most workers tion in India will remain relatively younger for do not have bank accounts. The Unique ID many years. Similarly, exclusive educational (UID) programme headed by Infosys Technolo-
nificant technology spends. “The three flagship schemes — SSA, NREGS for rural employment and Accelerated Power Development and Reform Programme (APDRP) in power — could alone generate $1 billion in revenues,” said Milan Sheth, partner, business advisory services, E&Y. The penetration of ICT (information, communication and technology) in Indian schools is currently only 17%, and there is a specific allocation of Rs 5,000 crore to improve use of technology and communication in education. In addition, technology can also be used to overcome many of the challenges being faced in the education sector and in implementing programmes such as the SSA to universalise elementary education by 2010. Under the Eleventh Five Year plan, the outlay for education is Rs 2,70,000 crore and E&Y estimates 3-4% of social sector outlays are spent on ICT, both directly and indirectly. The potential
N Shivapriya MUMBAI
G
OVERNMENT spending on various social sector schemes has opened up a Rs 10,000-crore opportunity in annual revenues for IT hardware and software vendors over the next few years, according to a recent study by industry association FICCI and consultancy Ernst & Young (E&Y). The study is the first on the role and potential use of technology in education, rural employment and power reforms since the government became a major IT buyer. The government’s unique ID (UID) project has attracted a lot of attention among vendors locally and globally. However, less publicised social sector programmes such as the Sarva Shiksha Abhiyan (SSA) in education and National Rural Employment Guarantee Scheme (NREGS) for rural employment also have sig-
gies co-founder Nandan Nilekani will also integrate with NREGS with the UID being included in job cards and muster rolls. “The sheer volume of opportunity is stunning. There is a phenomenal opportunity for all IT players to participate in these social sector schemes — not just for IT services providers or hardware players but even for the likes of Intel, Cisco and Microsoft,” said Mr Sheth, who feels that often, social-sector schemes are not seen as commercial opportunities by vendors and attract only fringe players. “We wanted to show this is not the case and have taken three flagship schemes of the government to illustrate this,” he added. The restructured-APDRP programme during the Eleventh Five Year Plan also envisages extensive use of IT for power reforms. The government has budgeted Rs 50,000 crore for the modernisation of the power sector of which Rs 10,000 crore will be spent on IT.
QUICK BYTES Tatas, RCOM, others owe Rs 603 cr to govt NEW DELHI: Tata Teleservices, Reliance
Communications and other private mobile telecom operators owe over Rs 603 crore to the government towards outstanding spectrum charges and licence fee for the last three years. “TTSL is at top with Rs 351.64 crore outstanding spectrum charges followed by RCOM with Rs 118.09 crore as spectrum charges and Rs 48.55 crore towards licence fee outstanding,” Minister of State for Telecom Gurudas Kamat said in a written reply in the Lok Sabha. In all, nine private telecom companies are in the list with amounts outstandings against them. .
BSNL’s market share dips NEW DELHI: BSNL’s market share in the
Intel to keep off WiMax spectrum bid cant participation from foreign players. The pre-bid conference held last month saw participaIntel has also denied tion from just two global players LEADING chip maker Intel has reports that it would buy Intel and AT&T, who have no no plans to bid for WiMax speca stake or partner with plans to participate in the auctrum in India during the upprivate telecom operator tions. The government expects coming auctions slated to hapto generate about Rs 30,000 pen in January next year, a senin India to bid for the crore from the auction of 3G and ior company official said on WiMax spectrum WiMax spectrum even as forMonday, dismissing speculaeign players plan to give it a miss tion that the company would participate in the airwaves sale. WiMax rollout,” Intel MD - alleging unfavourable govern“We have no plans to bid for sales and marketing, R Sivaku- ment regulations. Intel has also denied reports WiMax spectrum, it is for the mar said. Intel’s denial also snubs gov- that it would buy a stake or operator to decide. We are just keen on making relevant ernment claims that the upcom- partner with private telecom equipment available for the ing auctions would see signifi- operator in India to bid for the Our Bureau
CLEARING THE AIR
NEW DELHI
I
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WiMax spectrum. BSNL and MTNL have already been allotted 3G and WiMax airwaves while private telecom operators would have to bid for the same during the upcoming auction. In India, Intel is collaborating with state-owned telco BSNL to rollout the latter’s WiMax network. The chipmaker along with BSNL launched India’s first WiMax deployment in Rajasthan on Sunday. Intel has also partnered with HCL Infosystems in India to provide WiMax-enabled laptops and nettops in the country.
McNally Bharat,one of the most Trusted names since its inception is growing at a very fast pace in recent years. We are engaged in many areas of Infrastructure Development and silently building the nation. We have executed more than 300 Projects catering to a wide array of segments viz. Power, Steel, Coal & Mining, Ports , Aluminium , Mineral Processing, Material Handling etc. We also manufacture a large range of Equipment in the above Industry sectors.Today we are executing Projects at all regions of the Country and our factories are situated at Kumardhubi (Dhanbad), Asansol , Bangalore , Baroda and Kharagpur. Our operations are spread in Germany, Hungary, US , South Africa, China apart from India. The current vacancies are for our parent company McNally Bharat Engineering Company Limited, and its subsidiary companies viz. McNally Sayaji Engineering Limited and 1 MBE Cologne Engineering GmbH. Openings are based at Kolkata , Kumardhubi , Asansol , Baroda , ‘ Bangalore and Cologne in Germany. We are a happy family of more than 1400 employees and a large number of satisfied customers and other business partners. We take care of our employees well in all respect and they are willing and active partner in this growth. Today we have the dream to be a Global Player in EPC Business and hence, we invite bright Professionals with a passion for excellence to be a part of this journey.
For MCNALLY BHARAT ENGI ERING COMPANY LIMITED IESIIIENT MINACERS (DCM!AGM)
VICE PRESIDENT- CEMENf PINfI- B’C PROJECTS (LOCATION : Kolkata)
VICE PRESIDENT - INTERNATISNAL MARKETING (LOCATION : Kolkafa)
( HEIAIMftJIN BIIM BKEUNCJ EPC PROJECTS -
(LOCATION : Kolkata)
GENERAL MIIIAGEB-MIRKEHNC-ENCINEEIINC CONSTIUCTION BUSINESS (LOCATION : Kolkata)
GENB ALMANAGEII PIIOIECTMftNAGEMENf -
(LOCATION : Kolkata)
DY.GENERIL V GFRI $S18ENIJPALVJJWiB/ sEJImB IVAIlMU -PROJECT&cOIINIICTSMIIIA MBhE (LOCATION : Kolkata)
DY.GENUIALMDJIiEII / SS1 IERAL MIN GER / SENIOR IWIA EH I MMI1 HI
-
PROJECTPIJNNIN SCIEIIULIIGa I1ONHORING (LOCATION:Kolkata)
ASSIC MLVJIDJBI / SLNIOR MNIAGUI/ IIY.M NflliFI -I’IIOJFCTPIINNUIG&COIIfltACTS (LOCATION : Project sites in India & Abroad)
NEMLMAJIA H ONSTIWCTION (LOCATION : Kolkata) -
DY. GENERAL MANIOER-QUALITY ASSURANCE
(CIVIL a STRUCTURAL WORKS] (LOCATION : Kolkata)
DY OENB ALMINAGER IIEAmL SIff1TaBIVIRONImIF (LOCATION : Kolkata)
(LOCATION : Project sites in India & Abroad)
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SUhIOR MANIGERIMIJIAG[R GONSTRU 1ION MNlAt EMEIIT
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(LOCATION :ProJect sites In India & Abroad)
DY.GBIBIMIWIAGUi/ASSIGllIERMIWIAGER I SENIOR M IlAL1U/MAhlAO(fl -DESIGN & BICINEEIUNG ( eML/SIIIUJC11PJL/ MECHANICAL! PIPING I CHBUN AL/MII RAL PflOCESSING IIIIThIUJRGY)
-
(LOCATION : Bangalore)
GENERAL MANAGER WORKS -
(LOCATION : Barode)
DY.GENERAL MANA EII MARKETINB -
(LOCATION : Bangalore/Baroda)
DY.1 EI AL MINI R/I$$tOENEML MNIIGFflI SElifilfi
MMICER / MIIWGER-R&D
(LOCATION : Kolkata)
DY.GENERAL MANAGEIIIASST.GENERAL MANAGER! SENIOR MANAGER/MANAGER -
FINANCE & ACCOUNTS
(LOCATION : Kolkata & Proj ect sites In India)
DY. CENERAL MANAGEI-CONTMCTS & LEGAL (LOCATION : Kolkafa)
DY GENERAL MAIIftGER IT -
(LOCATION : Kolkata)
ASST.GENERAL MANAGER /SENIOR MANAGERIT INFIIASTRU CTIJHL (LOCATION : Kolkata)
SENIOR MANAGER -IT I ORACLE FINANCIAL ) (LOCATION : Kolkata)
DY.GENERAL MJIMGEB/ASST.GENERALMANAGER -
-
(LOCATION : Bangalore/Baroda)
DY.GENERAL MANAGER/A$StGENERALMANAGER MANUFAC11JHING -
(LOCATION : Kumardhubi near Dhanbad &Asansol)
PLANNING
(LOCATION : Kumardhubl near Dhanbad & Asansol)
DY.CEI RAL NANAUIWASST.GENERAL MAN&liEft-HRIIR (LOCATION : Kumardhubi near Dhanbad &Asansol)
DY CENERAL MANAGEH/ASST.GENERALMANAGER -
DY. GENERAL MANAGER /ASS LOENEBAL MANAGER EN CINEHING
PIJICHASE
(LOCATION : Kolkata)
Assicuuni -
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HIMITYA$S ANCE
(LOCATION : Kumai’dhubi near Dhanbad, Asansol & Baroda)
CNC MACHINE PROGIIAMMIfi (LOCATION : Asansol)
For COLOGNE ENGG. GmbH MANAGER/SR. MANAGER PROCESS -
(LOCATION : Cologne,Germany)
‘IT cos may redefine biz model by 2015’
MANAGERJSL MANAGER-PLANNING a IANIJFAC11JRING (LOCATION : Cologne,Gennany)
Attractive Com pensation Package matching the host in the Industr y For Detailsabout the above Positions For Positions,, please log log in to our Website
andApply (indicating Serial No. & PositionApplied Position Applied For) within 10 days of Publication of this Adverlisement. Advertisement.
ing as better ADM (Application Development and Maintenance) factories, oblivious of the shift in the external environment.
Harsimran Julka & Pankaj Mishra NEW DELHI
VINEET Nayar, chief executive of India’s fifthbiggest tech firm HCL Technologies, is known for his deal-making capabilities. In an interview with ET, he says that over 95% repeat business and almost 30% profit margins are not really the correct benchmark to measure the success of different Indian IT companies. He talks about how Indian tech firms may be caught ‘wrong-footed’ by 2015 if they do not act fast. Excerpts.
Despite establishing separate consulting divisions, many Indian tech firms are yet to make any substantial progress. Is there a build v/s buy dilemma when it comes to consulting? Acquisitions are like steroids. Should you take steroids whenever you have pain? The answer is no. The answer also depends upon how severe your pain is, and how fast it will get self healed. There are various skills which can be acquired. But some, should be built grounds up. So, infrastructure capability, we realised years ago, had to be built grounds up. SAP Consulting, we thought was a better decision to buy (from Axon). Unlike other IT companies, we don’t have a single team for acquisitions. We have eight acquisition teams sitCIOs are shifting focus to total ting in each part of the busiIT outsourcing (ITO) vendors. ness. If an acquisition can As a result, we might see a lot relieve a pain that will take too long to cure, it’s better to of consolidation of best of take steroids. However, the breed vendors, who don’t purpose of the buyout has possess ITO capabilities to be clear.
Looking at the Indian tech firms, many experts say they are evolving like ‘factories’ focused on managing complex delivery and people supply chain. Do you agree? There are some basic changes happening in the industry today which may redefine its business model by 2015. Between 2012 and 2015, we may see basic applications moving on to the cloud (basically internet). ERP applications and basic application development and maintenance will be done for, and on the cloud. The Indian IT industry is in a danger zone, and may be caught wrong footed on that front. I slowly see deals VINEET NAYAR Your margins have always moving in that direction. CEO, HCL TECHNOLOGIES remained lower than your Another basic trend is the shifting of the entire focus of CIOs towards total rivals like TCS, Infosys, Wipro....Why? IT outsourcing (ITO) vendors. As a result, we Higher margins should be a cause of concern for might see a lot of consolidation of best of breed them, not me. IT companies with margins over vendors, who don’t possess ITO capabilities. 30% have been stuck. We like to call it ‘the marGlobal IT companies seem to have realised this gin trap’, where if you chase deals which offer shift. The multi-billion dollar acquisitions this lower margins, your overall operating margins year of Perot by Dell, ACS by Xerox and Sun Mi- will be impacted severely. (This may affect the crosystems by Oracle, indicate that entire strate- companies’ shareholders and future capabilities gic plate is shifting towards ITO. HP also bought to win new business). Large global IT vendors EDS to compete with the likes of IBM, last year. have always kept their margins around 11On the other hand, Indian companies are just 12%. We, however, have maintained our marfocusing on delivery efficiencies and busy evolv- gins at about 20%.
(LOCATION : Kolkata)
For MCNALLY SMAll ENGINEERING LIMITED ASSOCIATEVICE PRESIDENT OPERATIONS
THE VINEET NAYAR INTERVIEW
L
BERNHARD SCHULTE TREASURY MANAGER (GROUP) MUMBAI -
The Bernhard Schulte Group is a family owned highly integrated maritime services company and a market leader in quality. versatirity and fleet size, with presence in the verticals of ship-owning, shipmanagement,liner operations & the real estate sector. All together the Schulte Group en loys about 15,000 seafarers and about 1,000 people onshore ,owns more than 90 vessels and manages more than 700 vessels under the banner of Bomhard Schulte Shipmanagcnient. The large size of the assets under ownership and management proportionately increases the quantum and variety of risks to be managed to ensure smooth running of the operations. Prime amongst these is the financial risk in terms of credit risk,interest risk, exchange nsk, risk of default, & the risk of unbalanced cash flows. To meet these challenges requires a superior and alert mind and we are looking to hire someone with these qualities and the requisite skills to convert these challenges into opportunities. j b Res nsiigili : The prime responsibilities of the role are: 1 Managiogcashflows aidmaximizereturn on working capita/through correct portfolio management. This would typically involve cash management including monitoring the daily cash position of the group - Managing and executing FX exposures and preparing related documentation — Analysis of cash forecasts — Bank reconciliation via TMS and providing assistance to the month end accounting process — Preparing weekly reports for senior managen nt — Ad hoc project work. 2. ManagingFinancialRisks ensuring minimum defaults and exposure. This would involve review of business unit risk reports ,including commentary and reporting to senior management - Working with Treasury Funding & Risk and Business Units to develop treasury risk policies. rements: • Full-time MBA in Finance from a top Management school in lndiaiabroad. • Work experience of 2 years in similar profile preferred. The focus of the operation is based on the Schulte Group. It is the intention to provide a training session of minimum three months at the Bernhard Schulte head office in Hamburg. Germany. For more details about the company please visit www.schultegroup.com Interested candidates may please send their resume with salary expectations within 2 weeks to:
[email protected]
‘ India ’s leading law publisher and information provider The EBC group of Companies , headquartered in Lucknow, with offices in New Delhi , Bangalore and Mumbai is a fast growing group managed by a professionally qualified Board of Directors.
Senior Manager (Accounts)
Responsible position for CAICA(lnter )/lCWAwith m m . 7 years postqualification expetience to head the Accounts Department and manage MIS, statutory compliances , budgeting and timely finatisation of accounts . Should have worked in a coputerised environment .Age preferably below 50 years. The candidate will head the Accounts department at Lucknow and is expected to report directly to the top management.
National Sales Manager (Print) A ttractive salary and benefits
In this key sales leadership role, you will drive revenue, develop and implement a clear sales strategy, do opportunity analysis and manage and train our sales force. Position involves placement at Lucknow with a minimum of 200 days travel/year. To qualify, you must have 5-7 years of successful sales experience in supervisory/capacity and excellent analytical and communication skills . Both Positions — Interviews at Lucknow and New Delhi. How to apply:
• Download Application Form www.ebc-india.com/jobs and send it with photograph, current and expected salary to 34, Lalbagh , Lucknow or • Apply online atwww .ebc-india.com/jobs.
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IONLINE
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telecom space has fallen by nearly 50% over the last three years, communications and IT minister A Raja informed the Lok Sabha on Monday. Defending BSNL’s massive loss in market share to just 16.71% now from over 31% in 2006-07, Mr Raja, in a written reply said it was mainly due to fierce competition and not due to managerial reasons. BSNL has lost market share both in the mobile as well as in wireline telephony.
COAI warns mobile users NEW DELHI: GSM operators lobby
Cellular Operators Association of India (COAI) said it has stopped its IMEI number embedding programme and advised mobile users not to get duped by unauthorised people, who continue to implant the 15-digit unique identification code in handsets. After the government’s directive to telecom operators to stop services to handsets without IMEI number, COAI had started the programme whereby genuine IMEI numbers allocated by the GSM association were implanted into the mobile sets.
New anti-cholera vaccine HYDERABAD: Shanta Biotech, which
recently acquired the vaccines division of the Sanofi Aventis group, has launched India’s first oral vaccine against cholera, called Shanchol. The vaccine has been developed in collaboration with the International Vaccine Institute (IVI) based out of Seoul. It can be used on children between one and five years, who have the highest risk of developing Cholera in an outbreak.
Suven molecule patent HYDERABAD: Drug-maker Suven Life
Sciences said it has received patent for two new chemical entities used in the treatment of diseases like Parkinson and Schizophrenia from the Canadian Intellectual Property office. “We are pleased by the grant of patents to Suven for our pipeline of molecules in central nervous system (CNS) arena that are being developed for cognitive disorders which has an estimated $20 billion market potential globally,” Suven CEO Venkat Jasti said in a statement. These patents are exclusive intellectual property of Suven and are achieved through internal discovery research efforts, it said.
Post online-CAT disaster, IIMs plan to switch to Foss Peerzada Abrar BANGALORE
THE leading IIMs, still smarting under the recent fiasco over the online CAT debut, are creating their own firewall against similar disasters in future. After an elaborate post-mortem of the recent disaster, many IIM officials are exploring the idea of using free and open source software (Foss), rather than going in for proprietary software, to prevent online common admission test disasters in future. “Online exams can be easily conducted using Foss as it can not only reduce costs by over 50%, but it is also safe against virus and malware attacks,” said one of the IIM officials. Infact, US-based Prometric — which bagged the high-profile $40-million contract to organise the online CAT using proprietary software like Microsoft Windows, along with NIIT — has pinned the main reason for this year’s disaster on the virus attacks. Despite installing several security measures, they were unable to circumvent the virus attacks, which impacted over 20,000 candidates. Unlike the open source software, proprietary software is not for free and has to be bought. Experts like T Vignesh Prabhu, a hacker at ‘deeprootlinux’, which is dedicated to developing and supporting Foss, said virus attacks form the major concern of IIMs. “The only solution is to discard the virusprone operating system you have been using and install Foss, such as GNU (a free software) and Linuxbased operating systems,” he said. Foss software, which grants users the right to study, change, and improve its design through its source code, is the most preferred option. He said, there is enough statistics to prove that GNU/Linuxbased operating systems are less prone to virus attacks. The only
SAFE PLAY
other way is to keep fighting the viruses by installing the latest updates of various anti-virus softwares.“And, you have to keep your fingers crossed hoping that developers of anti-virus companies are just as fast as the virus-writers,” he added. Officials at Prometric, which had used proprietary software this time, said many centres were affected by mainly two viruses — Conflicker and W32.NIMDA. IIM officials said this happened despite the fire-walls systems installed. They said the CAT computers were sourced and leased from local colleges in the cities where the examinations were held. They said most of the CAT computers got infected through the servers and other computers in various colleges through the local area network (which is a computer network covering a small physical area like a group of buildings). Also, the existing data on some of the 17,00020,000 CAT work stations has not been deleted. IIM officials said many of these 17,000-20,000 computers were prone to virus attacks as they may not have used the genuine proprietary software.
INTERNATIONAL
10
* THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
ACROSS THE WORLD
FUTURE PERFECT: US NATURAL GAS DEMAND TO RISE
Obama presses bankers to help lift US economy
Exxon to buy XTO for $41 b in big bet on gas
WASHINGTON: President Barack Obama said the
nation’s banks must take an active role in accelerating the US economic recovery after the government helped them emerge from a crisis that was “largely of their own making.” Mr Obama spoke after meeting with executives from Bank of America, Wells Fargo, JPMorgan Chase and other financial institutions as he seeks to ratchet up pressure on banks to extend more credit to small businesses and ease opposition to his regulatory overhaul.
Jim Polson
IN THE PIPELINE
NEW YORK
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Cadbury rejects Kraft bid, eyes other suitors LONDON: Cadbury said it has received interest from other bidders after raising its growth targets and reporting upbeat trading as it dismissed a $16.5 billion bid from Kraft Foods. Cadbury called Kraft’s bid “wholly inadequate” kicking off a seven-week fight for its independence, while declining to name Hershey or Italy’s Ferrero, who have said they are contemplating bids for Cadbury. “We have had indications of interest from third parties on possible business combinations,” CEO Todd Stitzer said.
XTO investors will get 0.71 share of Exxon for each share they hold The transaction values XTO at $51.69 a share, 25% higher than its last closing price The deal will boost Exxon’s presence in the natural gas industry The purchase is scheduled to close in the second quarter This is the largest energy acquisition since 2006 and Exxon’s biggest takeover since the purchase of Mobil in 1999
BA crew to go on 12-day strike from Dec 22 LONDON: Thousands of British Airways cabin crew voted to strike, hours after the airline revealed a £3.7 billion hole in its pension fund that will require deft handling by management if a proposed merger with Iberia is to stay on track. “The strike will take place over 12 days from December 22 but we have taken the decision, which will disrupt the travel plans of thousands of people, with a heavy heart,” a Unite union spokesman said.
XXON Mobil, the biggest US oil company, agreed to buy XTO Energy for $31 billion in a bet that US emissions restrictions will spur increased demand for natural gas. Including about $10 billion in XTO debt, the deal is valued at $41 billion. Owners of Fort Worth, Texas-based XTO will get 0.7098 share of Exxon for each of their shares, the companies said on Monday in a statement. The transaction, the largest energy acquisition since 2006 and Irving, Texasbased Exxon’s biggest takeover since the purchase of Mobil in 1999, values XTO at $51.69 a share, 25% higher than its last closing price. “This says that corporate M&A is alive and well in the exploration and production sector,” said Curtis Trimble, an analyst at Natixis Bleichroeder in Houston. “It also says that Exxon isn’t shy about stepping up their exposure to the natural-gas market. Almost certainly, we will see some more follow-the-leader type transactions.” Exxon, which also will assume $10 billion in debt, will get the largest producer of US natural gas. Demand for the fuel will grow as US carbon legislation prompts power producers to switch from coal, Kenneth Cohen, Exxon’s vice-president for government af-
fairs, said. The purchase is scheduled to close in the second quarter, the companies said. JPMorgan Chase and Davis Polk & Wardwell are advising Exxon. Barclays, Jefferies and Skadden Arps Slate Meagher & Flom are advising XTO. XTO’s output rose 23% to the equivalent of 2.95 billion cubic feet of gas a day after a $4.2 billion acquisition spree last year that included Hunt Petroleum. The company reported proved reserves equivalent to almost 13.9 trillion cubic feet of gas at the end of last year. Including reserves not yet proved, XTO has an estimated 45 trillion cubic feet of gas equivalent, according to Monday’s statement. “There is very little in the way of really good reserves out there,” said Stephen Leeb of Leeb Capital Management in New York. “If you want reserves you can count on, you really have to buy domestic reserves, or reserves in countries that are, you know, trustworthy, and XTO has a lot of wonderful domestic reserves, especially, I think, in the gas area.” XTO extracts gas from the Barnett Shale region of Texas and is drilling in the Bakken Shale in North Dakota, where oil is trapped between shale beds in rock resembling concrete. The company is doubling its drilling in the Marcellus Shale, a gas-bearing formation that stretches through parts of Pennsylvania, New York and West Virginia. — Bloomberg
DIGGING DEEP
Citi to repay $20 b to US govt, regain its ‘freedom’ uity units.” The US Treasury will sell as much as $5 billion of common stock it holds, with plans to unload the rest of its CITIGROUP, recipient of the stake during the next six to 12 biggest US bank bailout, struck months. An additional $1.7 a deal with regulators to repay billion of common stock $20 billion to taxpayers and esequivalent will be issued next cape government-imposed month to employees in lieu of pay restrictions. cash they would have otherCitigroup, the only major wise received as pay. US lender still dependent on The TARP payments will rewhat the government calls sult in a roughly $5.1 billion “exceptional financial assisloss. Citigroup will also termitance,” will raise the funds nate its loss-sharing agreewith a sale of $20.5 billion of ment with the government on equity and debt. The New $301 billion of its riskiest asYork-based company also WE PLANNED sets. Canceling about $1.8 bilplans to substitute “substantial lion of trust preferred securities common stock” for cash comTO EXIT TARP linked to the program will repensation, the bank said in a ONLY WHEN WE WERE sult in a $1.3 billion loss, the statement on Monday. company said. Chief executive officer CONVINCED THAT IT Meanwhile, Saudi billionVikram Pandit has pressed for aire Prince Alwaleed bin Talal an exit from the Troubled As- WAS PRUDENT TO DO said he does not plan to sell his set Relief Program (TARP) out SO... BY ANY shares in Citigroup and reafof concern that pay constraints firmed support for the bank’s make Citigroup vulnerable to MEASURE OF chief executive and manageemployee poaching by Wall FINANCIAL STRENGTH, ment. Prince Alwaleed inStreet rivals. Bank of America vested in Citigroup through exited the programme last CITI IS AMONG THE Kingdom Holding in 1991 week after paying back $45 STRONGEST BANKS IN with an ownership of 3.6% billion of rescue funds. and in January 2008 partici“It’s great news,” Gary THE INDUSTRY pated in a $12.5 billion priTownsend, chief executive ofvate offering of convertible ficer of Hill-Townsend Capital, VIKRAM PANDIT preferred securities of Citian investment firm in Chevy CEO, CITIGROUP group, it said in the statement. Chase, Maryland, said in an Citigroup fell to $3.86 in New York trading at interview. “It’s important for Citi to exit these extraordinary agreements with the US Treasury 8:03 a.m., down from its $3.95 close on Decemand the government as quickly as possible. It’s ber 11. The stock has tumbled 41% this year, expensive perhaps, but I think it had to be done.” valuing the lender at about $90 billion. “We planned to exit TARP only when we were The bank will sell $17 billion of common stock, with convinced that it was prudent to do so,” Mr Pana so-called over-allotment dit said in the statement. “By any measure of fioption of $2.55 billion, and nancial strength, Citi is among the strongest $3.5 billion of “tangible eq- banks in the industry.”— Bloomberg Bradley Keoun NEW YORK
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CORRIGENDUM
Tender Notice No. NMMT ITM IENGG /20 12009-10
Appointment of Agent for Running & Maintaining The City Buses on BOO , (Built Operate & Own Basis) On Specified Routes of NMMT is
extended as follows.
Date of Sale
Submission of Tender
23-12-2009 upto 15.00 hrs.
24-12-2009 upto 15.00 hrs. sd/-
Other terms & conditions will remain same.
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IDCOL FERHO CHROME s ALLOYS LIMITED (A Wholly Owned Subsidiary of IDCOL)
A Govt. of Orissa Undertaking
At/Po : FERRO CHROME PROJECT - 755 020
Jajpur Road , Dist ; Jajpur (Orissa) India Tel . No . 06726-220508 , Fax: 06726-22052 4 1Wi ’I iik dYL 4-I J’i I — i1 I ‘11:1 Ffl R
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Sealed tenders are invited from the Owners I Lessee of Magnesite Mine or Magnesite Traders for supply of 500 MT ±5% of Magnesite as per specification mentioned in tender document forfeeding to ElectricArc Furnace at IDCOL Ferro Chrome & Alloys Ltd. (IFCAL), Jajpur Road. The tender document can be obtained on payment of Rs.300.00 in our cash counter from dt.16.12.2009 to dt.27.12.2009onanyworking dayduring office hours. Tenderdocumentcan also be downloaded from our website www.ifcal.orinic.in I www.idcorissa.com While submitting such downloaded original copy of tender document, a crossed D/D for an amount of Rs.3001- (towards cost of tender document) drawn on any Nationalised Bank in favour of M/s IDCOL Ferro Chrome & Alloys Ltd. payable at Jajpur Road should be enclosed along with tender. Tender should accompany EMD of Rs.30,000/ -. Tender submitted other than in the manners presc bed in the tender document shall stand rejected. Last date and time of receipt of tender is scheduled to dt.30.12.2009 at 4.00 P.M. & shall be opened in presence of the representative of the bidders on 30.12.2009at4.30 RM. MANAGING DIRECTO R
Bharat Coking Coal Limited (A Subsidiary of Coal India Limited) A D D E N D U M NOTICE
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Ref. No.: BCCL/GM (CMC)/F-GLJGlobal Bid-MB/2009!181 9 Date : 07.12.2009. A d d e n d u m to tender notice no Global/4 , NIT Refe rence no . BCCL/GM (CMC)IF-GL/GLOBAL BID-MB/2009/984 dt. 20.07.2009, for the work of Development of M a d h u b a n d Underground Mine and extraction of coal from Madhuband Underground Mine . Barora Area by mass production technology package for a minimum guaranteed production of 1.0 Mty of coking coal on turnkey basis . Work includes additional exploration (if desired so by the contractor ); preparation of m i n i n g plan , detailed Project Report & EMP including acquisition of land & rehabilitation (if so required), obtaining approvals from concerned authorities . All other terms and conditions as mentioned in the original tender document will remain unchanged. These revised clauses may be treated as part of the tender documents in relevant pages of the tender documents . Date of sale of tender document: From 08.12.2009 to 08.01.2010 Date of receipt of tender : upto 3.30 PM on 08.02.2010 For fu rther details , kindl y v i s i t o u r W e b s i t e http:J/bccl,cmpdi,co.in Sd!.. Genera l Manager
(Contract Management Cell)
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ECONOMY, FINANCE & MARKETS MUMBAI
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MANUFACTURING, DRUG COS ON A HIGH; FOREIGN BANKS SLIP
SHORT TAKES
Rise in advance tax kitty signals robust recovery
TIED IN KNOTS
M Padmakshan 2008
Growth (%)
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Revival in West fails to lift garment exports NEW DELHI: Exports of garments from India
continued to decline in October 2009 despite revival of demand in the US and the EU, according to the Apparel Export Promotion Council, the country’s top body of garment exporters. “Although demand from the US and the EU is reviving, we are losing our share to units in neighbouring nations as they have large-scale production and also enjoy more incentives than us,” AEPC chief Rakesh Vaid said. Exporters say rising cotton prices have increased costs of yarn, pushing up cost of production of garments in the domestic market. Overseas buyers are, therefore, placing orders with China, Vietnam, Indonesia and Cambodia who are selling garments at lower rates compared to India, AEPC added. Garment exports have been tumbling since August last year.
CMIE raises GDP growth forecast to 6.7% for FY10
ANUFACTURING and pharmaceutical companies, along with some of the local financial institutions, seem to have emerged stronger from the downturn than foreign banks, if advance tax numbers for the quarter-ended December that have trickled in so far are any indication. An uptick in tax numbers during the third quarter of a fiscal year improves business sentiment as almost threequarters of a company’s annual tax liability is usually paid by December. Information available with ET shows that companies such as Reliance Industries, HUL, L&T, Hindalco, Grasim, Century Textiles and GlaxoSmithKline Pharmaceuticals (GSK) have paid higher tax in Q3 this year than in the corresponding period of the previous fiscal. And while banks such as HSBC, StanChart, JP Morgan and Barclays have paid substantially lower tax, the numbers for mortgage giant HDFC and the biggest local investor, LIC, have gone up. The increase in tax payout by manufacturing firms may be attributed to the fiscal stimuli in the form of lower excise duty and the reduction in interest rates effected in the months following the breakout of the global financial crisis in September last year. Foreign banks with branches in India have been hit by reduced credit growth, which has been a direct fallout of the recession as lenders, singed by exposure to worthless derivative instruments in the West, became wary of
NEW DELHI
MUMBAI: The Centre for Monitoring Indian
Economy has revised its GDP growth forecast for the current fiscal to 6.7% from 6.2% announced last month. The upward revision comes on the back of lower-than-expected damage to smaller crops due to drought and floods and a robust industrial growth in September, CMIE said in its latest report. “Real GDP growth for 200910 is revised upwards to 6.7% from a 6.2% growth projected in the previous month (November),” the report said.
Malaysian help for Indian roads NEW DELHI: Road transport and highways
minister Kamal Nath has said a team would be set up for greater collaboration with Malaysia in the roads sector. The committee will be headed by director general (highway development) and will have members from the finance department, Planning Commission and other ministries. “We are also examining possibilities of government-to-government engagement to arrive at a win-win situation for both,” he said, adding India will also look at Malaysia for funding. An agreement on enhanced bilateral cooperation with Malaysia for roads is likely to be signed next month when the Malaysian PM visits India.
India’s share of global FDI jumps to 2.45% NEW DELHI: India’s share in the global flow of
FDI has almost doubled to 2.45% in 2008 compared to the previous year, said commerce minister Anand Sharma. Informing the Lok Sabha on Monday, he said among developing countries, India ranked fourth in terms of FDI inflows in 2008. The minister was referring to figures published in Unctad World Investment Report (WIR) 2009. He added that during the economic downturn in 2008-09, FDI inflows grew by only 2% over the previous year compared with the growth of 51% in 2007-08.
AN EMPOWERED group of ministers (EGoM) that met here on Monday is understood to have given the nod to lower the wheat release price under the open market sales scheme (OMSS) following reports that high prices for the wheat was propping up prices in the domestic market. Ironically, although FCI offers wheat to states at rates cheaper than the open market, states have marked up the prices for sale to flour mills. Mills have refused to pick up the wheat since open market prices are lower. Sources said the difference in the two prices is Rs 2,000 per tonne.
In Delhi, for instance, open market wheat prices rose after 1 million tonnes of OMSS wheat was released in end-October at around Rs 1550 per tonne. Prices for open market wheat shot up in Punjab, Haryana, Maharashtra and Karnataka on account of higher OMSS wheat prices, making a mockery of the scheme itself and food subsidy in general. The OMSS scheme is used by the government to intervene in case of high food inflation to increase supply and bring down prices. Prices are usually meant to
16.5%
Canada France
29.2% 26.7%
Germany
6.9% 7.0%
Korea
21.3% 15.9%
USA
980 HUL
Reliance Inds. 850 Hindalco
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OECD
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India* Less than 5%
20.5%
HDFC
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As a percentage of GDP
Grasim Inds.
285 GSA Pharma
L&T
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Stimulus spend not a waste
85 49
(Rs Crore)
W H YS & W H E R E F O R E S Increase in tax payout by manufacturing firms may be due to govt's fiscal stimuli ●
Foreign banks hit by reduced credit growth which was direct fallout of recession ●
Retail borrowers have turned to domestic public and private banks, which have rolled out a spate of special home and auto loans ●
With the fresh advance tax numbers, revenue department hopes to meet its target of Rs 4 lakh crore in FY10, against a shortfall of Rs 60,000 crore last year
●
JAYEETA
be pegged between APL rates and open market prices for consumers. However, flour mills are also offered the OMSS wheat under the new scheme and that has kept prices high. The EGoM is also understood to have given its nod to extension of the existing deadline for reexport of white sugar against raw sugar imported in earlier years (2002-03 and 2003-04). Under the Advanced Licence scheme, mills were supposed to re-export processed white sugar against raw sugar imported. Although bigger mills such as Renuka have re-ex-
Panel to fast-track mine licensing
17.1%
Australia
UK
W H O PA I D H O W M U C H
Panel okays cut in OMSS wheat price Our Bureau
Public Social Expenditure**
Mexico
NUMBER THEORY LIC
SORRY FIGURE
ported sugar by the December 2009 deadline, many other mills have not. The other option was to waive the duty on the imported sugar which totalled a whopping Rs 620 crore-plus, something the government cannot afford to do. In the event, the EGoM is believed to have considered extension of the deadline once more to December 2011, especially in view of the current acute shortage in domestic sugar supply against an annual consumption of 23 million tonnes. For 2009-10, the output estimated is around 16 million tonnes. India’s demand drove up futures prices for raw sugar in the global market to an over twodecade high.
** For 2005
* For India It Refers To 2009-10
POLICYMAKERS and economists are caught up in a debate over when the government should start unwinding the fiscal stimulus, as the high fiscal deficit—6.8% for the current financial year—is not sustainable. This extra spending has been able to support growth when the other drivers of the economy faltered following the outbreak of the financial crisis and the subsequent slowdown or recession in many countries across the world. The same high fiscal deficit can, however, become a serious drag once the economy recovers and private demand and investments pick up. The high government borrowing can cause interest rates to go up sharply and thereby drag down the overall growth rates. This is largely the reason why there is pressure to revert to the path of fiscal consolidation. Yet, if we look at the extra expenditure the government has taken on in the name of stimulus, much of it is expenditure that needed to be made. The increased expenditure on the employment guarantee scheme is a big part of the stimulus. The allocation to the scheme is up at Rs 39,100 crore for 2009-10 against a budget of Rs 14,400 crore for 2008-09. Can this amount actually rolled back given the need to provide livelihood to people? Similarly, the Sixth Pay Commission award to government employees went a long way in increasing demand. That had to be done and now is part of the baggage. Tax sops can be rolled back, and so can some interest subventions, but these will add up to precious little. The total central government expenditure is only about 17% of the GDP. Adding spending by states, it goes up to about 20-22% of GDP. This is well below the spending by other governments, which is in the region of nearly 40% for the developed world. The state spending on health and education remains abysmally low, and private participation in infrastructure can at best complement government spending, not replace it. The only spending that needs to be rationalised at this stage is the wasteful consumption subsidies on fuel, fertiliser and petroleum products. Most of these don’t reach their intended beneficiaries and can be replaced with direct transfers. The key issue is that the government’s revenue is well below what it should be, which constrains its ability to undertake any meaningful expenditure. Sure, there is need for ensuring that money is spent wisely, but there is no case for cutting government expenditure. What is needed is a better revenue effort to increase the tax-to-GDP ratio from the current 11%. The introduction of a comprehensive goods and services tax (GST) is expected to improve things, but local taxes, in particular property taxes, need to contribute more to the kitty. The non-tax revenues, or the user charges for various services provided by the government, need to go up as well, particularly those under the administration of state governments. Vinay Pandey
Under the patronage of H.H. Genera l Sheikh Mohammed bin Zayed Al Nah yan Crown Prince of Abu Dhabi & Deputy Supreme Comman der of the UAE Armed Forces . Hosted by
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“We are considering the proposal for inclusion in the new MMDR Bill. A final deciNEW DELHI sion would be taken only after taking the THE government is exploring the feasibility views of the mineral-bearing states,” said a of a central coordination-cum-empowered government official involved in the process committee to fast-track the process of of finalising the draft Bill. A similar format exists in the coal mingranting mineral concessions and ensure istry, where mining lease for coal is given transparency in the process. A proposal to this effect has been moved by a screening committee headed by the coal secretary. Mining concesby the steel ministry for inclusion sions for major minerals is curin the new Mines and Minerals rently approved by the mines (scientific development and regministry on the basis of recomulation) Bill (MMDR), 2009. mendation from the mineralThe new legislation would rebearing states. place the existing MMDR Act In its representation to the and operationalise the National mines ministry on the new Bill, Mineral Policy which has already been announced by the government. the steel ministry has said the Indian BuThe proposal envisages the empowered reau of Mines, which has been mandated committee as the supreme authority for giv- as the main technical body for regulation of ing mineral concessions (prospecting licence, the mining sector and primary enforcing mining lease) for major minerals, including agency of the new Act, should act as the secretariat to the proposed central coordibauxite, iron ore and manganese ore. The empowered committee would com- nation-cum-empowered committee. It prise officials from various government would assist the committee in the disministries and departments such as mines, charge of its duties. The sector is open to environment and forest, and also have rep- 100% FDI since 2000, but not much investresentation from end-use ministries such as ment has come in because of a lack of conducive policy environment. the steel ministry. Subhash Narayan
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E X P O R T S
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ECONOMATRIX
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lending even as borrowers, especially on the retail front, went on the backfoot or turned to domestic public and private banks, which, led by SBI, came out with a spate of special home and auto loans early this year. The country’s largest private sector company Reliance Industries paid Rs 850 crore as advance tax, an over 5% increase over the year-ago period, while HUL clocked a 29% rise at Rs 200 crore. For LIC, the outgo is Rs 980 crore (against Rs 870 crore in the year-ago period) while for HDFC it is Rs 320 crore (Rs 280 crore). Engineering major L&T recorded a robust 29% increase in tax payout at Rs 270 crore. Hindalco showed a YoY increase of 150% to Rs 100 crore while manufacturing major Grasim Industries showed a 33% rise in tax outgo at Rs 285 crore. Pharma major GlaxoSmithKline showed a 26.87% rise in tax payout to Rs 85 crore. GSA Pharma too clocked a YoY increase of about 30% at Rs 85 crore. Textiles major Century Textiles made a remarkable upswing with a tax payout of Rs 49 crore compared to just Rs 3 crore it paid during the corresponding period last fiscal. Against a sharp decline in collections during October-December ‘08, income-tax authorities are expecting a higher revenue for the third quarter ending December ‘09. There have been signs of improvement since September 2009 following higher collections from TDS and securities transactions tax. With this week’s advance tax numbers, the revenue department hopes to meet its target of Rs 400,000 crore this fiscal, against a shortfall of Rs 60,000 crore last year.
* TUESDAY 15 DECEMBER 2009
From April, you can switch health insurer without losing benefits Irda, Insurance Firms Working On Norms For Portability Of Health Policies Deepshikha Sikarwar & Anto Antony NEW DELHI
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ONSUMERS may get the freedom to change their health insurance provider by next April, according to new guidelines being prepared by the industry in tandem with the sector regulator. “We are working on the norms for portability,” said M Ramadoss, CMD of New India Assurance, the country’s largest general insurer. He is party to the discussions and said the final draft will be submitted to the Insurance Regulatory and Development Authority (Irda). Under existing regulations, if a consumer is dissatisfied with a service provider he has to buy a new policy from the company of his choice. However, he will lose the benefits on his existing policy, most importantly the pre-existing illness cover. In the case of new health policies, existing illnesses are not covered for the initial few years and companies charge a heavy premium for waiving this off. Policy continuity is,
therefore, important in the case of health insurance. “It is a win-win situation for both the customer and the company,” says Sanjay Dutta head of health insurance vertical at general insurer ICICI Lombard. While the customer gets to choose and pick the best service provider, the insurance companies stand to benefit from the sharing of data on the insured
ZAHID
which will help prevent fraudulent claims, he added. The draft regulations suggest the facility can be availed only in the case of similar products, in similar age groups having similar premiums across service providers. Besides, portability or changing service provider would not attract any additional fee or charge. Portability criterion would include parameters such as age, premium charged for products offering coverage up to Rs 1 lakh, a person involved in the process told ET. General insurers and the General Insurance Council had sent a draft of the guidelines for consideration of IRDA some time ago and are now giving it finishing touches in line with directions from the regulator. Experts opine that portability may not really find favour in the country until issues such as movement from a group insurance product to individual product are addressed. “Concept of portability may be very difficult to implement in the country unless all these grey areas are addressed,” said Nayan Shah, founder president of Third Party
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Why Telangana makes sense TUESDAY 15 DECEMBER 2009
States’ reorganisation Not By Mob Fury
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DJOURNING the Andhra Pradesh assembly sine die, amidst chaos in the House and continuing street protests, the state government has taken probably the sole, though ignominious, option left to it in an impossible situation. The breathing space this move provides the Rosaiah government will be meaningful only if the central and state governments now strive to lower passions and initiate an extensive, inclusive dialogue with political leaders across party and regional lines. The Centre must also appoint a second States’ Reorganisation Commission forthwith to consider the case for splitting existing states. That said, the crisis in Andhra Pradesh, which has reinvigorated similar demands in other states, is foremost a case of the Congress comprehensively shooting itself in the foot. The ill-considered announcement that a separate Telangana would be created has not only led to masses of MLAs across parties resigning, but also split the state Congress — and the Cabinet — down the middle. But given the way the crisis erupted, it also posits the deplorable volatility of Indian politics, where a fast to demand a separate Telangana by the leader of a party that had actually been routed at the polls suddenly led to an escalation. If TRS chief Chandrasekhara Rao’s fast was a desperate — and successful — attempt to regain relevance, ensuing events also laid bare the extent of crass opportunism all around. Except for the CPI(M), almost all other parties have publicly stated their support for a separate Telangana. Yet, witness the sudden passionate espousal of opposition to the move by these parties. One doesn’t have to dig too deep to find strands of chauvinism here, regional in this case, even though the whole state of Andhra Pradesh itself was formed on an emotive linguistic basis. There could well be merit in the argument that smaller states can allow for better governance and can help mitigate the sufferings of regions that feel consigned to backwardness. Indeed, there is a global propensity towards forms of local governance. Yet, such crises, therefore, also mean that our own policies on devolution of power and local governance have not delivered. All that can surely be debated. But without being prone to the politics of fissured identities.
The creation of Telangana might trigger cries to make more new states. The best way to decide on such demands is to set up a group, like the states’ reorganisation panel, and have it thrash things out with everyone, says Abheek Barman.
T
HE din and violence surrounding the government’s announcement that it’ll finally push to carve out the state of Telangana from Andhra Pradesh, has claimed a major victim: reason. Most arguments against carving out Telangana are emotive, charged with hysteria, coloured with political posturing. The only remotely sensible argument against creating Telangana is that it could set off an avalanche of competing demands for more new states. But even that argument, as we shall see, holds little water and can be dealt with reasonably. Let’s not kid ourselves. Over the last 60-odd years, successive governments have tinkered with state boundaries and carved out new states from older ones. The last three — Chhatisgarh, Jharkhand and Uttarkhand — were created less than 10 years ago, in November 2000. India today has 28 states, compared to 14 shortly after it became a republic. So let’s stop behaving as if this is an unprecedented calamity that we’re suddenly faced with. Folks who argue in favour of Telangana say that the region is backward, something that’s hard to refute. Districts like Nalgonda, Medak and Warangal are among the poorest in India. Glittering Hyderabad is located in Telangana, surrounded by these districts. Drive out from the city and it’ll take you less than an hour to reach some of India’s most backward areas. Yet, this is also the place where a lot of India’s mineral wealth is concentrated. Miners like the Reddy brothers from the neighbouring state of Karnataka have huge operations in Telangana. One of their mining companies is now being investigated for — this is hard to believe — changing the border between Karnataka and Andhra Pradesh to benefit their mining interests. Lots of resources, yet very few benefits coming to people on the ground: that’s what proponents of Telangana argue. As a new state, they say, the government of Telangana will have the political and administrative drive to do better for voters. Instead of trying to refute this argument logically, people in coastal Andhra and
R
ECURRING reports of water shortages and municipal supply cutbacks in Mumbai point at turbulence in the country’s water economy. What’s required is proactive policy as an immediate supply booster and a medium-term strategy to purposefully address the infrastructure deficit. After all, there’s growing evidence of plain inability — certainly routine inefficiency — of the state water machinery to deliver; there’s a huge financing gap as well. The fact that water supply in upcoming high-rises in the country’s commercial capital is dicey does suggests warped policy. But then user charges are negligible, there’s a general lack of accountability and the generation of revenue is usually not enough to even cover operations and maintenance. Worse, the investment backlog is large and fast rising. There are structural rigidities right across the board. On the supply side, there are really only two sources of financing-budgetary outlays and user charges, and both heads in the water sector have been declining and falling, for years. Hence, the real dearth of recources for quality supply and delivery. On the demand side, there’s perverse incentive to rely excessively on groundwater, given the poor quality of public irrigation and water supply services. It shores up costs, is thoroughly unsustainable and leads to a panoply of distortions too. One recent study estimated just the running costs of privately-tapping groundwater to be six times more than municipal supply. Nevertheless, over 80% of domestic water usage pan-India is groundwater, given the inefficiencies — or the sheer lack of piped delivery — in everyday supply. Another study found that although per-capita water availability in Delhi is more than that, say, in Paris, there’s as high as 40% leakage along the pipe network in the former because of lack of maintenance, feeder pumps, etc. Hence, the need for regulatory oversight and proper corporate structures for water utilities, certainly in the metros to begin with. And the medium-term policy objective ought to aim at replacing the command-and-control structures in water bureaucracies with a flexible, transparent allocation system. Proper pricing and reform in the water sector can no longer remain on the backburner.
No ‘states’ quo in India As Politicians Divide And Rule
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N THE wake of what a loyal Congress factotum termed as Sonia Gandhi’s December 9 birthday gift to the people of Telangana, a youth who was for the creation of the new state told a TV channel that the US had one-third the population of India but had 50 states, as compared to 28 for the world’s most populous democracy. The youth forgot to mention that the newer states in the US were add-ons to the original 13 and not carved out of existing entities! A more logical analogy would have been the creation of new railway zones. In 1996, the then-railways minister Ram Vilas Paswan recommended that the number of railway zones be increased from 9 to 15. The recommendation was subsequently implemented, with the headquarters of one of the new railway zones being Hajipur, which Paswan represented in the Lok Sabha! The politicians were happy as were the railway officials since each new zone meant many more top-level posts to which they could be promoted. The local MLAs were also happy since new zones meant more contracts to be awarded for everything from the construction of new railway headquarters to maintenance works. Railways are like children’s toys when compared with the opportunities opened up by the creation of new states. It need not be a coincidence that one of India’s richest politicians is the former CM of India’s newest state of Jharkhand. The Rs 4,000-crore scam that Madhu Koda allegedly perpetrated in a few years as, first, Jharkhand’s minister for mines and, then, as CM was catalysed by the fact that he retained the power to sanction leases for mining, the going under-the-table rate reportedly being Rs 12 crore for recommending a single mining lease. Jharkhand’s then-mines secretary reportedly cleared 47 leases in just one day! Multiply Rs 12 crore by 47 and you cease to wonder why smaller states make for richer politicians and wealthier bureaucrats. Small is not just beautiful but bountiful!
prise to know that by 2006-07, the average person in the hill state made Rs 27,800, nearly double the Rs 14,663 made by the average UP-wallah.
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OST of the stories coming out of Jharkhand are about Naxalism and the fabulous wealth allegedly salted away by former chief minister Madhu Koda. Yet some of Koda’s prosperity seems to haXve rubbed off on Jharkhand, where the average person’s income two years ago was Rs 20,177 again, nearly double the average Bihari’s Rs 10,570. It’s the same story in Chhattisgarh, where the average income was nearly Rs 29,000, much more than the average Madhya Pradesh income of Rs 18,051 two years ago. People in smaller, newer states are better off than counterparts in their parent states. Another argument against splitting existing states is that the new ones are slow to mobilise their own funds from taxes or cesses and depend heavily on central handouts. Ergo, to control New Delhi’s finances, it’s better to go slow on new states.
C H AT R O O M
Nor a drop to drink Water Cannot Be Neglected
ALANKAR
Rayalaseema, both wealthier than Telangana, are on a rampage. Burning state buses is no answer to an economic argument; it only leaves you with fewer buses. For many years, Jawaharlal Nehru refused to pay heed to any claim for statehood based on linguistic or ethnic factors. His sole criterion was economic: would a new state be better off after independence? Would it be able to support itself better than before? Though Nehru’s blindness to language or ethnicity was, well, a handicap the economic arguments he so loved are very important. And most arguments for Telangana’s statehood are economic. But are the assumptions of folks who want Telangana state realistic? Do people who live in newly carved out states do better than before? Nine years after the creation of Chhattisgarh, Jharkhand and Uttarakhand, there’s some reason to believe that, indeed, they do. Among all the newly created states, Uttarkhand is probably an anomaly; it wanted to peel off from Uttar Pradesh because it felt that its parent was more backward than it was. So, it’s probably no sur-
Take them to task THIS refers to your edit, ‘Caveat emptor’ (ET, Dec 14). Your views on the rate of interest being charged by banks are biased. When a large part of our population is unaware of banking regulations and a vast majority is underbanked, a statement like “a borrower should know the rules and regulations before getting into a contract with bank” is meaningless. Everyone knows that to expand their business, banks have been using unfair means to tangle borrowers in a high interest trap. A thick booklet of terms and conditions has been an escape route for
BLINKERS OFF SALAM
Sir, don’t look at it as a request for leave… see it as the company’s commitment to keep its employees happy…
Sure, a state like Chhattisgarh might take time to get its taxation systems in place and need central handouts. But even a state like Haryana, carved out of Punjab in 1966, needs funds from New Delhi. Bengal, which has been partitioned several times, and therefore got smaller, is hardly self sufficient. Indeed many ‘established’ states like Bengal and Bihar are still so slow to collect local revenues that matching funds from New Delhi often go unused. All states, big or small, old or new have similar powers to collect revenues. Their ability to do so doesn’t depend on when they were created or their size, but by the efficiency of their administration and the buoyancy of their economies. The creation of Telangana might trigger cries to make more new states like Vidarbha and Gorkhaland, or split Uttar Pradesh into three. The best way to figure out what’s feasible, which demand merits attention and which doesn’t, is to set up a group, like the States’ Reorganisation Commission and have it thrash things out with everyone, and then take a call. Finally, the Congress party which dominates this government, needs to be internally consistent in what it stands for. As long ago as 2001, the Congress Working Committee accepted the report of one of its study teams and decided that it was in favour of creating two new states: Telangana and Vidarbha. Then, the BJPled NDA government was in power and it mattered little what the Congress thought. But in 2004 after its election victory, the common minimum programme adopted by the first UPA coalition also agreed to work towards statehood for Telangana. In the hurly burly of coalition politics, it soon forgot this promise and lost an ally, the Telangana Rashtriya Samiti (TRS) two years later. Today, instead of dithering, the government should signal clearly that it will work to create Telangana. And set up a group to examine the demands for other new states. Remember, the United Sates, with about one third our population, has 50 states, a number that’s only grown over time.
WHEN NOT TO TRUST YOUR GUT Deepak Malhotra
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UST as intuition biases your vision, it can sabotage your negotiations without your awareness... System 1 thought describes our intuition: quick, automatic, effortless, and influenced by emotion. By comparison, System 2 thought is slower, more conscious, effortful, and logical. The first step in negotiating more rationally is to identify situations that call for extra vigilance. Periodically make a list of important upcoming negotiations that you think might require System 2 thought. Intuitive System 1 thought often takes over when negotiators are facing intense time pressure. Keep in mind that completing an entire negotiation in one session is typically unnecessary. Even when you’re well prepared, a negotiation that is the slightest bit complex will raise new information, unforeseen issues, and tactics that you did not anticipate. A negotiator typically uses an insider lens for making judgements when deeply immersed in a particular context or situation; the insider relies on intuitive System 1 thinking. By contrast, the typical negotiator adopts an outsider lens when removed or detached from a particular situation; the outsider uses rational, System 2 thinking. The insider focuses only on the current situation, while the outsider is better at integrating information across multiple episodes — in particular, other people’s successes and failures. Obviously, for our most important negotiations, the outsider lens is preferable.
TH ROUGH TH E TH I RD EYE The lost plot
most banks. When a borrower is unaware of the rights, how can she interpret the fine print? BIBHU ASHISH PANDA BY EMAIL, DECEMBER 14
Let’s get physical THIS refers to ‘How to create active, livable cities’ (ET, Dec 14). The spread of diabetes is alarming. It’s time we included more physical activity in our lives, for which we need to add public transportation and yoga, running or walking to our lifestyle. Otherwise, after AIDS, diabetics will be the next scourge of humanity. BAL GOVIND NOIDA, DECEMBER 12
Control inflation THIS refers to your edit, ‘Tackling food inflation’ (ET, Dec 11). The issue of spiralling food inflation is as sensitive as the threat of terrorism. The government’s lukewarm response to this has surprised all. Tightening monetary policy while retarding the economy, which has just started showing signs of a recovery, will not help in easing food inflation. Vested interests, thriving at the cost of common man’s plight, must be dealt with seriously. MAHENDRA B JAIN BELGAUM, DECEMBER 12 Letters to the editor may be addressed to
[email protected]
Whodunit? AS THE political storm that followed the Centre’s move on Telangana rages, nobody in the Congress wants to reveal who tilted the decision in that memorable Congress Core Committee meeting. Sonia Gandhi loyalists aver she goes by her advisors. Congressmen who want to shield the PM say he has a cultivated aversion for the nuts and bolts of political matters. Beneficiaries of Ahmed Patel swear their man only swims with the current. Pranab Mukherjee’s backers want everyone to know he was not present at that meeting. P Chidambaram’s admirers assert how he is meant to stay focused only on non-political administrative matters. Fans of A K Antony say his instinct has always been to duck the bullet at the high-table. Those who care for Veerappa Moily reflect on how he made it big without taking any major decisions. As for poor Rosaiah, his few sympathisers want critics to get one thing right: he owes his CM post to his proven inability to take firm decisions. Be sure, the Congress ‘credit hunt’ will be inconclusive till the mess is managed.
WHAT prompted the timing of TRS chief K Chandrashekhar Rao’s fast unto death is shrouded in mystery. After all, only a fortnight ago, he chickened out from demonstrating his battered TRS’ popular standing by deciding not to contest the Greater Hyderabad Municipal Corporation polls. As Rao is hoping to emerge as the Telangana hero from being an electoral zero, an interesting back-room detail has emerged. A few days before Rao’s fast, six of the 10 TRS MLAs reached Delhi and secretly met an influential AICC general secretary with experience in handling AP politics. The MLAs wanted to join the Congress and pleaded with the party heavyweight to facilitate their urgent meeting with Sonia Gandhi. They said their attempts to reach out to 10, Janpath, via the PCC set-up and AICC managers had been futile given the post-YSR leadership confusion. Even as the MLAs were being guided on how to cut through the infamous Congress red-tape, came the news of Rao announcing his fast. Some Congress leaders now wonder if Rao took the plunge after getting a whiff of the plot to split the TRS legislature party as well.
Down, out and high NATWAR Singh might have blown his political career on the Volcker oil scam. But this diplomat-turned-former union minister knows how to spend his forced retirement in a meaningful way by reading avidly and writing articles and books. It is also known in top Congress circles that Singh wants to return to the party as a selfless Congressman and is hoping that 10, Janpath will, one day, entertain his wish. Meantime, despite the bitter experiences, 78-year-old Singh seems
in great spirits. How does Third Eye know? Well, by his mobile phone ring-tone: “Dil kho gaya, ho gaya hai kisi ka/ab rasta mil gaya khushi ka…” The film: Singh is Kinng. Touché.
Rail bogeys AFTER his initial aggression against the Congress on being kept out of the UPA-II, RJD chief Lalu Yadav has realised the pitfalls of being in a combative mood when he is without a power perch in Delhi and Patna. Mulayam Yadav’s plight, some say, has also been a persuasive factor for Lalu to pipe down. So, the RJD chief is keeping a low profile in the current session and is hoping against hope for a hung verdict in the Jharkhand assembly elections so he can do business with the GoP in Ranchi and then work his way through Delhi’s corridors. But then, railway minister Mamata Banerjee could be the real reason for the detente. The lady is threatening to table in the Lok Sabha the promised white paper on railway finance. Insiders say Mamata’s move could undo Lalu’s painstakingly built PR image as the railways reformer. So, mum’s the word.
Takeover norms:Tossed,not turned There’s something
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HE takeover of substantial number of shares, voting rights or control in a listed Indian company attracts the provision of Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The 1997 regulations have been amended 19 times in the last 13 years. At the same time, a number of obvious problems have not been rectified in the regulations. The large number of amendments have also created requirement of a compulsory tender offer of such unnecessary complexity as to make it virtually unintelligible to even a well-qualified professional. The complexity in the trigger points for disclosure and tender offer introduced over the years needs to be simplified, making compliance of the regulations straightforward and easy to understand by management of listed companies. A vast majority of these amendments kept modifying numbers in trigger points for disclosure and compulsory tender offers contained in the regulations. To give just one example, the concept of ‘creeping acquisition’ exemption was modified from 2% in 1997 to 5% in 1998, to 10% in 200,1 to 5% in 2002, to a modified 5% in 2008. In other words, most of them tried to second-guess the wisdom of the original or amended numbers. The takeover regulations mandate a compulsory tender offer to public shareholders in a dozen circumstances. It is proposed that there should only be one trigger on acquisition of over 5% unless the acquirer owns less than 15% shares of the target company. This would enable a person to acquire up to 15% shares i.e., up to a control figure, and not trigger a compulsory tender offer. Where a person owns any number of shares up to 50%, such person should be entitled to purchase shares or voting rights up to 5% each year by way of creeping acquisition. Any acquisition over 55% should not be allowed without a compulsory tender offer of such number of shares as would result in a post-acquisition public shareholding of at least 25%. This is consistent with the view of the finance ministry that, gradually, all companies should be mandated to have a minimum of 25% public shareholding.
G U EST CO LU M N SANDEEP PAREKH
The 1997 regulations were amended 19 times over the past 13 years A vast majority of these amendments kept modifying numbers in trigger points for disclosure and compulsory tender offers contained in the regulations What is needed is a simple regulatory regime that determines the triggers for the disclosure norms and the tender offer Control in a listed company could be acquired by acquiring a small number of shares in a company with a highly dispersed shareholding. In addition, indirect control includes acquisition of control of the target company by acquisition of parent companies, whether listed or unlisted and whether in India or abroad. Acquisition of control would, however, not trigger the regulations if approval by special resolution of the general body of shareholders of the target company is obtained through postal ballot. The rationale for this exemption is not clear, and it should perhaps have been deleted with the exemption for other friendly acquisitions like the preferential allotment exemption under the erstwhile exemption for preferential allotments. In 2002, the large loophole of an exemption from a compulsory tender offer to preferential allotments was deleted. With this deletion a vast bulk of friendly takeovers which were exempted under this provision, were no longer exempt.
The erstwhile exemption created a disparity between friendly acquisition and hostile acquisition. The exemption ran counter to the philosophy of the regulations, as it was wholly immaterial to the public shareholders whether the acquirer was friendly to the existing management/promoters of the company or not. In the circumstances, the exemption created regulations which had robust doors for security but which had no walls. This was clearly recognised by Sebi as inappropriate in 2002, though part of the inappropriate law was not deleted. The takeover regulation was amended in 2002 replacing the words ‘in any period of 12 months’ with ‘in any financial year ending on 31st March’. This unnecessary amendment to regulation 11 that relates to triggering of a compulsory tender offer beyond a creeping acquisition, results in a completely unfair situation. For instance, the regulations restrict a person from acquiring more than 5% shares in a whole year i.e., 365 days. With the amendment, a person can acquire 10% shares in just two days, March 31 and April 1 of any year. The original definition ought to be brought back because though the regulations seem to indicate that no person should acquire over 5% in a whole year, it permits acquisition of 10% in just two days. This unfair amendment ought to be reversed with the original wordings brought back. I do not try to portray a particular combination of numbers as the best possible set of trigger points and compulsory acquisition numbers but advocates that whatever numbers are adopted should not be changed for several decades. I am for a simple regulatory regime that determines the triggers for the disclosure norms and the tender offer. Arguments that state that the changing economic condition requires constant changes with these numbers, it is argued is wrong. There is much that needs to be worked on, and also there should be no tinkering in the regulations for several decades after the regulations are cleaned up. (The author is faculty member at IIM-Ahmedabad)
about designer rules
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N HIS latest book, The Greatest Show on Earth, Richard Dawkins refers to an incident in the life of British evolutionary biologist J B S Haldane when he was approached by a lady who didn’t believe in evolution. Apparently she said something like “Even with billions of years of evolution available how is it possible to go from a single cell to a complicated human body with trillions of cells organised into bones, muscles and nerves, a ceaselessly pumping heart, miles of blood vessels and a brain capable of talking, thinking and feeling?” To this Haldane is supposed to have replied: “But madam, you did it yourself. And it only took you nine months.” The larger point Dawkins is trying to make is that in developing from a single cell to giant whales or towering redwoods, the genes are not following a preplanned architecture or design (which would imply a designer) but are actually undergoing selfassembly. That is, all living things may look like the result of deliberate planning but, in fact, each individual cell inside them, when it’s growing, is only following a set of local rules which do not apply to the whole of the organism. Just like when thousands of starlings flock in assembly, they flock as a tight-knit coherent
group with no starling straying. In the process they often form myriad different and wonderful shapes that appear to emerge miraculously out of that movement. Yet, again, each individual bird is just following its own set of local rules that apply only to itself depending on its position in the flock — what distance to keep from the bird in front, when to turn, which speed to maintain, etc. No central planning, no choreographer, no group mind at work. Just self-assembly. As coherent as this argument is, it raises two questions. The first is, aren’t the billions of neurons in our brains also following their own set of local rules? Each neuron is firing when required and processing its little bit of information, or not firing when not required and not processing that bit. Yet when they work together we get this most amazing organ which is capable of, to quote Haldane’s questioner, “talking, thinking and feeling.” How did this group mind suddenly start working? And the second, more important, question: where are the “local rules” emerging from? Designs may not necessarily imply a designer but rules are different. In order to be followed, someone has to make them. MUKUL SHARMA
COSMIC
UPLINK
13
POLICY
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
Planning a merger?
GO,TELLTHEWORLD TINA EDWIN
SCEPTICISM ABOUT THE ABILITY OF THE COMPETITION COMMISSION TO ASSESS THE IMPACT OF AN M&A ON THE CONSUMER & FAIR PLAY IN THE MARKET IS MISPLACED
SHAILESH WARANG
TO DO OR NOT TO DO IS THE DILEMMA FACING THE corporate affairs ministry. We are talking about the merger provisions of the Competition Act, 2002. There is no clarity on when the government will notify sections 5 & 6 of the Act. Many had expected the provisions to be notified soon when the full commission was constituted with a full-time chairman ahead of the general elections. After all, the commission has been functional since July 2003 with former company affairs secretary Vinod Dhall as its member, with little to do other competition advocacy. However, continued opposition from industry may result in a further delay in bringing the merger provisions into force. Corporate affairs minister Salman Khurshid, in his interaction with ET recently, said he was surprised that even the more liberal in industry are now against pre-notification of mergers. And so, he decided it was better to hold more consultations. Industry’s apprehension about the merger provisions is misplaced, and in part arises from a misunderstanding of the Competition Act. Its concern about pre-notification of mergers — those that cross the specified size in terms of total assets or turnover — has not changed since the days the draft Competition Bill was made public. Its concerns are that pre-notification of mergers would delay amalgamation of businesses and, in some instances, in unwarranted obstructions. Some doubt the ability of the Competition Commission of India to assess the impact of an M&A on the consumer and fair play in the market. Now, pre-notification of mergers is not unique to India. The European Commission requires it, so does the Federal Trade Commission (FTC) and the department of justice in the US under the Hart-Scott-Rodino Antitrust Improvements Act. In the US, pre-notification requirement has been in force since 1978. A pre-notification is essentially pre-emptive in nature: it prevents creation of combinations that may be anticompetitive. It also gives regulators an opportunity to challenge M&As when remedial action is most effective. Undoing mergers is a difficult and expensive proposition for both regulators and businesses. And, undoing a merger need not necessarily restore competition fully. Like the Competition Act, 2002, regulations in the US and Europe have specified thresholds for pre-notifica-
tion. In EU, it is mandatory to report all combinations or concentrations that have ‘community dimensions’. EU uses turnover criteria to decide community dimension of a merger or an acquisition. The FTC uses a combination of voting rights, non-corporate interests, turnover and assets to judge the need for a pre-notification. The FTC revises the thresholds on an annual basis, based on the changes in the gross national product (GNP). The Competition Act uses assets and turnover criteria for defining thresholds, and provides for these thresholds to be revised every two years. The last change was made in 2007, when the Competition Act was amended. Industry would argue that the thresholds defined in the Act are low, given the ticket size of the transactions that have been completed since the amendment. There may be merit in the argument, but industry must also understand pre-notification will not mean that all transactions will be halted. In both the US and the EU, only a handful of deals are prevented from being consummated. There is no reason why that should not be the experience in India too. After all, the Competition Act does not bar a company from becoming a dominant player. It frowns on abuse of dominance. Consider, for instance, if a merger is proposed of the personal care businesses of Hindustan Unilever and Colgate-Palmolive (India). The merged entity would be a behemoth, but may not be seen as abusing its dominance. There are enough challengers in that market, besides the merged company would stand to gain by pricing its products at various price points. Sure, the commission would seek answers for several questions and, once it is satisfied that there would be no distortion of the market, the amalgamation would get a clearance. The commission and the government also need to assure industry that the pre-notification will not unnecessarily delay the mergers — the commission needs to be strengthened to complete scrutiny in less than the prescribed time as 120 days is a long time in business. The scrutiny period should be brought down to 30 days, in line with global practices. Pre-notification is necessary to protect the interest of various stakeholders, particularly consumers, as there is no concept of perfect competition in the market. The government should stop dithering on notifying these provisions of the Act to signal that it is serious about following best practices.
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Doublespeak in food price super spike TILL THE RETAILER SHARES THE SPOILS WITH THE PRODUCER, SKEWED MARKET ECONOMICS WILL HURT ALL NIDHI NATH SRINIVAS
FOR MONTHS, WE HAVE GRIMLY PAID hundred bucks a kilo for everything from dal to dhania patta (coriander leaves). But surely, this cannot go on for ever. After receiving this bonanza from us, simple greed should make farmers grow tonnes more green vegetables, pulses, rice and sugarcane. Not so fast. ET helps you join the dots. When consumers pay record prices for something scarce, producers figure they can maximise profits by increasing supply. But in food, high prices are not the cure for high prices. There are two reasons. One, farmers are simply not receiving bullish price signals. It is retailers who are making hay. Farmers are still getting only a fraction of the over-the-top prices we are paying. So, they see no incentive to grow more. Government data shows that last week, a farmer selling highest-quality tomato got only Rs 12 per kg in Delhi mandi. Retailers sold it for upwards of Rs 24 per kg. The best-quality potato was sold in the mandi for Rs 7.50 per kg. Consumers paid double. Brinjal bought from farmers for Rs 5.50 per kg was quoted to us at Rs 13 per kg. This wide gulf between mandi/factorygate prices and retail MRP can be seen in most
food items, especially sugar, pulses, fruit and vegetables. The dispute between Uttar Pradesh’s sugar factories and farmers over cane prices, that spilled on to Delhi streets, merely dramatised how growers feel short-changed. But there is nothing to stop retailers from profiteering. As the government told Parliament in September, “There are no guidelines issued in relation to the maximum permissible difference between wholesale and retail prices of essential commodities. The wholesale/retail prices are largely determined by market forces.” Actually, most vegetable farmers are receiving little more than last year. Last December, farmers sold onions in Delhi for Rs 11.40 per kg. This year, they got 20% more. For tomatoes, they got 8% more. Factor in higher cost of trucks, credit and general inflation and you know why they see no urgent need to clear their fields for onions and tomatoes. What’s in it for them? Two, even where farmers can see correct price signals, either through the market or government’s minimum support price, there is not much they can do. Eight out of 10 farms in the country are owned by small and marginal growers. To increase supply, they need good seeds, water and timely inputs. Getting most of these factors right is expensive. And after the summer drought, cash too has dried up. A one-hectare farmer got only Rs 2,000 as government compensation when his crop was wiped out. The National Rural Employment
IT IS RETAILERS WHO ARE MAKING HAY. FARMERS ARE STILL GETTING ONLY A FRACTION OF THE OVER-THETOP PRICES WE ARE PAYING
Guarantee Scheme promises him income for barely three months. Cash was scarce even before the drought. In the capital-intensive kharif sowing season between April and July, banks met 28% of their farm loan target. Last year, they loaned less than 20% of the target in those months. With no other sources of income, farmers remain in the clutches of middlemen who lend them money. A majority of farmers don’t even need a market: their harvest prices are fixed by the arhtiya. Bigger farmers discover that conveniently reaching a large enough mandi is tiresome and expensive. They can check prices on mobile phones. But poor roads and transport services, along with high-cost labour, eat into margins. So, the price signal remains fuzzy. Ironically, farmers suffer most when price signals get transmitted perfectly because we have no way to handle excess production. When everyone grows the same crop, supply pressure kills profit on the spot. Then the scarcity cycle begins again. Is there a solution? Sure. More competition and cash. Increasing competition will force food retailers to share a bigger share of their bounty with producers and invest in storage. Better credit will allow farmers to invest in their fields and maximise gains. Today’s prices are telling consumers to eat less and but not farmers to grow more. Food needs its own communication revolution.
FROM IMPLEMENTATION TO EXPANDING TAXPAYER BASE, ADMINISTRATION WILL BE A CRUCIAL COG PRATIK JAIN
MOST discussions around the goods and services tax (GST) have so far been confined to the basic aspects of the new levy, thus, overshadowing some of the finer points of GST implementation. Take, for instance, the need for realigning, or at least revisiting the administrative machinery of the government and taxpayers to prepare for GST. Various factors under GST would have a bearing on the administrative aspect of taxation. For example, certain sectors such as aviation and real estate that are outside the indirect tax net could be brought under the purview of GST, thus requiring companies in this sector to gear up their tax function. At the government level, the central government deals with around one million taxpayers, while the states administer more than 7-8 million taxpayers. In keeping with the GST principle of widening the tax net, if the central government were to expand its taxpayer base to 7-8 million — or maybe even more — then the government would have to look at large-scale recruitment. Also, the central tax collection agencies have negligible experience of dealing with the trading community for indirect tax matters. Similarly, the state tax authorities have no expertise of administering service providers that are required to pay only central service tax. Therefore, one would hope that before GST implementation, there would be training sessions to groom tax officers for the new levy. Thus, it is apparent that under GST, unless a suitable model is evolved for maintaining status quo for tax administration, both authorities as well as taxpayers are in for a big challenge. While these issues are likely to be ironed out over a period after GST is introduced, an administrative setup that absolves the taxpayer from such challenges in the first year itself would be welcome. This would require careful consideration and, perhaps, some compromises by the Centre and states. For instance, the Centre may relinquish its right of administration over the traders who interact only with UNLESS A the state authorities. Any CGST payable by them may be collected by the state authorities, on behalf of the SUITABLE Centre. Similarly, the service providers may be required MODEL IS to pay SGST to the central tax authorities, who would then pass it to the respective states. A similar arrangeEVOLVED FOR ment is contemplated even under the existing Customs TAX ADMINAct (Section 6), which entitles the central government to entrust any functions of Customs authorities to any ISTRATION, officer of the state government or local authority. AUTHORITIES This seemingly simple administrative model also has its own set of challenges. First, it can work only if & TAXPAYERS CGST and SGST provisions are aligned to a significant ARE IN FOR A extent, and the tax officers are not required to put in extra efforts to understand both the laws. Also, the CHALLENGE mechanism for empowering (and motivating!) the central tax authorities to assess taxpayers for SGST dues, raise demands, impose interest/penalty, etc, and vice versa, would need to be evolved. Clearly, this remains an essential preliminary while introducing a unified GST. The HR teams of taxpayers too would have a tough task of realignment and reorientation of some of their employees. This is especially relevant for companies that are brought under the tax net for the first time. Such companies would need to create new tax positions, hire more people and train them for a new tax on which they have not worked before. In a manufacturing setup, excise managers at the factory would also need to undergo extensive training to shed the excise duty legacy and gear up for GST. This is because most of the concepts under excise — such as taxable event, valuation provisions, related party transactions, etc — are likely to witness substantial changes under GST. Similar issues would arise with respect to increased burden on tax managers who currently deal with only one tax authority, but are required to deal with both central and state authorities under GST. A telecom company, for instance, may need to recruit more tax professionals at the regional level to deal with the state authorities on SGST. In fact, such service providers may also be required to go for state-specific or regional registrations and computations for CGST purposes if the concept of centralised registration is discontinued under GST. Apart from training the tax team, some informative sessions would also be required for other business functions within the organisation, such as finance, markets, IT, and senior management. To conclude, GST is not only going to impact the finances but would also affect several other activities of companies, including human resource management. In order to ensure a smooth transition to the new regime, organisations would need to assess the overall impact of the new levy on all facets of business and carry out requisite changes in a timely manner. For a successful implementation, clearly, the administrative aspects of GST would need to be taken care of by both the government as well as taxpayers. (The author is executive director for indirect tax and regulatory services at KPMG)
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DILBERT
US chanting same old Doha line SHEILA MATHRANI
C
AN THE DOHA ROUND BE CONCLUDED by 2010 as the G-20 world leaders have committed themselves to? The chances seem slim given the lack of engagement by the US administration, and the opinions expressed by the US trade representative (USTR) at the World Trade Organization’s (WTO) Geneva Ministerial Conference. To begin with, there is a delay in filling important US trade posts necessary for the negotiations, such as that of Michael Punke as the US Ambassador to the WTO, Isis Siddiqui as the chief agricultural negotiator and Mirian Shapiro as the deputy USTR — her nomination dates back to April 2009 — even when the current administration has been in place for nearly a year. At the recent ministerial conference, member countries called for a rapid, equitable and successful conclusion of the Doha Development Round to step up the global economy. The G-20, the G-33, the Cotton-4 group, the African group and the developing countries’ G-110 group stressed on the urgency and necessity of the completion of the development dimension of the round. USTR Ron Kirk also called for completion of a successful round — but the US perception is different. At the WTO ministerial, USTR Ron Kirk did not give substantial signs of an early, equitable completion of the Doha Development Round by 2010. He told the WTO members as well as the world Press that the US cannot make any concessions to the least-developed countries (LDC) for extension of US duty-free-quota-free system, and the Cotton-4 group’s demands for reduction of US subsidies on cotton that are destroying them, unless the US demands for greater market access by the emerging economies of Brazil, China and India — which he calls advanced developing economies — are met. He puts the blame on them. According to Mr Kirk, US President Barack Obama wants “not just any agreement, but an agreement that will open up markets and increase exports around the world”. Mr Kirk opined that ‘trade is all about jobs’ and, therefore, the US wants a round that creates jobs for the US, “and of recovery right at home — particularly in terms of creating the well-paid jobs that Americans want and need”.
GST: IGNORING HR CHALLENGE WON’T HELP
SHAILESH WARANG
THE NON-CONCLUSION OF DOHA ROUND BY TARGET DATE OF 2010, AS AGREED UPON BY THE HEADS OF STATE OF G-20 IN LONDON, WOULD BE LARGELY DUE TO THE US, WHICH HAS NO DEFINITE TRADE POLICY Mr Kirk points out that a World Bank report had estimated that 5% of the world’s GDP would come from the advanced developing countries of Asean, Brazil, China and India. Therefore, it would be up to them to make the concessions and give greater market access, as they would have a high growth potential. Mr Kirk did not give a direct response to a query by ET on how much the US intended to cut its farm subsidies, and what concessions the US wants the advanced developing countries to make in terms of market access before the US could consider concessions for the LDCs and poorer countries to enable them benefit from the round. Instead, he said, countries such as India should come out of ‘their comfort zone’ to ensure progress in the round, “for a deal only gets done when all have
to agree to get some degree of discomfort”. Mr Kirk wants sustained direct bilateral engagement and concessions by advanced developing countries in the Doha round, for “success means a change from old approaches, and a change from the July 2008 approach”. This is opposed by a majority of the developing countries — who want the trade negotiations to be multilateral, transparent, with a bottoms-up approach. The approach of the US to put the onus on developing countries — particularly Brazil, China and India — for the success of the round by calling for greater market access is similar to the blame game of his predecessor Susan Schwab, who, in the July 2008 mini ministerial, blamed India and China — she focused particularly on India and commerce minister Kamal Nath — for breakdown of the talks, whereas it was clear that the US did not want to commit itself to reducing its farm subsidies. Former commerce minister Kamal Nath called a spade a spade in the July 2008 ministerial, refusing to make further concessions, for he sensed that the then US administration was not serious about concluding the Doha Round. Then, the US farm and industry lobby was very powerful and the Bush government was still negotiating, though it had no fast-track authority from the Congress. The situation is similar: there is still no fast-track authority request in Congress envisaged by the Obama government. It is further complicated by demands from the US labour and environment lobby through some Democrat lawmakers to scrap the negotiations in the current form, and to add labour and environment conditions for the successful conclusion of the Doha Round. The non-conclusion of the Doha Round by target date of 2010, as agreed upon by the heads of state of G-20 in London, would be largely due to the US, which seemingly has no definite trade policy, nor is giving trade negotiations priority, and is dragging its heels. If by Spring 2010, when WTO intends to review the progress of the negotiations, there will be little progress, the next credible possibility for the Doha Round conclusion would be 2013. Campaigning for the next US presidential elections will start around the same time. Is it not up to the US to come out of its comfort zone instead?
by S ADAMS
MARKETS
14 Sensex 17097.55 (
0.13%)
Nifty 5105.70 (
0.20%)
* THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
Nikkei 10105.68 (
0.02%)
Stricter broker-client rules to curb misuse New Sebi Rule To Bring Down Investor-Broker Tussle Over Wrong Charges
RULE BOOK
Apurv Gupta MUMBAI
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Once the rule comes into force, brokers will have to pay interest to clients ● Brokers were found charging a hefty rate of interest from clients under different heads ● Sebi asks bourses to ensure the rule is implemented before the end of this fiscal
THE Securities and Exchange Board of India’s (Sebi) recent circular, which imposes a penalty on brokers for delayed payment of funds, could have far-reaching implications, say market experts and investor associations. For one, it could reduce court cases due to wrong charges levied by brokers on their clients. Also, once the rule comes into force, brokers will have to pay interest to their clients at the rate similar to what they charge the clients. Experts also say that the
new agreement will prevent funding by the broker in contravention of the applicable laws. The regulator has asked stock exchanges to ensure that the rule is implemented before the end of this financial year. The market regulator has tightened key clauses in the client-broker agreement, as part of its attempts to curb the misuse of client money by brokers. It has further asked stock brokers to maintain a book containing all the mandatory and nonmandatory documents required for registering a client. Many brokers were charging a hefty rate of interest
from clients under different heads, one such being “delayed payment charges”. This was nothing but interest being charged from clients for allowing them to take positions beyond the permissible limits. “This practice will be restricted, since under the new rules, brokers will exclude these kinds of agreements, because they themselves will be liable to pay his client the same rate of interest for the unutilised funds lying with the broker,” says Narendra Mehta, chartered accountant & secretary, Investors’ grievances forum (IGF), who was instrumental in drafting of the
agreement. According to the requirements relating to dealings between a client and broker, Sebi has said: “Imposition of penalty/delayed payment charges by either party, specifying the rate and the period.” “This will be beneficial to both the parties. This may also help in checking investors from trading recklessly on borrowed money,” says Ashok Bakliwal, president of the Bombay Shareholders Association. Mr Mehta adds that this will also deter brokers from funding their clients in contravention of the applicable laws.
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MFs reach out to rural poor, one SIP at a time
Domestic institutions lap up Mangalam Cement
Tie Up With NGOs To Tap The Growing Equity Interest Among Poor
RAJASTHAN-BASED Mangalam Cement is said to have caught the fancy of a few domestic institutions of late. The stock was the star performer on Monday, rising 9% to close at Rs 138, despite the overall trend being sluggish. With Monday’s gains, the stock has climbed around 20% over the past one month. Buzz is that a private insurance company is leading the pack of domestic buyers. This insurer is said to have mopped up close to 4%. Analysts tracking say Mangalam is one of the safer bets among small-cap cement stocks.
SLUMDOG MILLIONAIRE
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Short-sellers in JSW Energy may lose
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TRADERS, who have gone short on the JSW Energy issue in the grey market, could find themselves in a spot of bother. Talk is that the issue is likely to be priced closer to the lower end of the price band of Rs 100-115. The issue, which has been subscribed 1.7 times, received a moderate response from investors. The company may have decided against pricing the issue aggressively. A leading investment bank, which failed to find a place in the syndicate of lead managers to the issue, is said to have heavily short sold through grey market punters. The punters pushed the price down to a discount of around Rs 4 to the top end of the price band. Now, that the issue is likely to be priced even lower than that, the punters could be in for a nasty surprise. But they may still end up making a tidy profit, if the stock lists at a discount to the issue price.
Market sees delay in SME trading platform THE launch of the trading platform for SMEs by existing bourses is likely to be delayed, according to market participants, pointing to the statement made by finance minister Pranab Mukherjee on Monday in Rajya Sabha. “The need and criteria of listing at SME exchange/platform are different from those for listing on BSE and NSE. Therefore, it is felt that separate SME exchange/platform of existing stock exchanges are required,” said Pranab Mukherjee in Rajya Sabha.
Rs 100-cr fund for investor awareness SEBI is planning a Rs 100-crore investor awareness fund that will be used to spread awareness about mutual fund investments. Industry sources said the regulator is working out a plan to pool in money for the fund from AMCs. The regulator may advise fund houses to forego a small portion of the expense ratio they collect from investors. Expense ratio is an income for MFs, as it covers fund management fee and administrative costs. As per Sebi regulations, a MF can charge a maximum expense of 2.5% for equity funds, 2.25% for debt funds and 1.5% for index funds and 0.75% for fund of funds. MFs, on their part, maintain a small corpus of fund (also termed investor awareness fund) to educate investors. “Contributing for one more fund will further cripple the industry. As such, most fund houses are logging huge losses operating in the current environment,” said the CEO of a domestic fund house.
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BMC Report: One in two persons resides in a slum in Mumbai. 2001 Census: 54.1% of Mumbaikars are slum dwellers Asia’s largest slum Dharavi has thousands of 8/10 foot shanties spread over 55 acres. Dharavi manufactures and exports bags, clothes, and shoes worth $650 million a year. Savings, as a concept, is new among low income group households in India. Slum-dwellers are able to a keep a balance of Rs 50-300 in their savings account every month. Low income group banking transactions up from Rs 20-30 (per visit to the bank) to Rs 200-300 per visit. Sources - NGO Estimates, Archives
Shailesh Menon MUMBAI
M
uniyandi Velappan, a 35-year-old truck cleaner, who lives with his wife and two children in a two-room shanty in Chennai’s Teynampet slum, is a fan of equity mutual funds. Though Velappan doesn’t really understand NAVs, he makes it a point to ask Kumareshan, an insurance distributor and a long-time friend, indha fund eppidi irukku (how is my fund doing?). Kumareshan, on his part, is not familiar with MF schemes, but tries to assure Velappan that his investments are safe and growing. Velappan is amongst the hundreds of daily-wage earners who are benefiting from micro-SIPs started by fund houses, in their bid to reach out the large and captive impoverished masses. Of late, fund houses have begun hitting the flea-infested alleyways, to low-income homes that are waylaid by gutters and flanked by sewage pipes. Scattered across the country and cutting across cities, habitats like Teynampet in Chennai, Cheetah Camp and Dharavi in Mumbai, Kalyani slum and the Bakshi Garden slum in Bangalore, Kotla in Delhi and Metiabruz in Kolkata are waking up to the benefits of savings and financial planning. While fund houses are not very happy to hit the street selling schemes to ‘mini investors’, they are left with no other option, but to collect small money from a large number of investors. UTI, SBI MF, ICICI Pru and Bharti Axa are some of the fund houses trying to promote micro-SIP investments. “We are also going to people who can’t afford a Rs 500 SIP,” says Srinivas Jain, chief marketing officer, SBI Mutual Fund. The fund house launched a ‘chhota SIP scheme’ start-
ing at Rs 100 a few months ago targeting farmers and daily-wage earners. “Our micro-SIP plan has over 21,000 investors. We are advising this scheme to rural folks and daily-wage earners. It’s a sheer task to collect money from the grassroots though,” admits Mr Jain. The fund house is teaming up with non-profit NGOs in Maharashtra and southern states like Tamil Nadu, Karnataka and Kerala to set a stage for them to advise low-ticket MF investments in C-class markets. While many South-based NGOs are already helping funds advise investments among low-income colonies, profit-motive organisations like FINO are planning to start MF promotion in their work areas. “We are providing loans, insurance, self-help group products and savings account facilities to low-income colonies in about 200 districts. Our next initiative will be to promote savings among the rural and urban poor. We’ll look for a tie-up with few fund houses in the next six months to advise MF savings among low income investors,” said Rishi Gupta of Mumbai-based FINO. If one goes by NGO estimates, savings rate among slum dwellers and low-income group have gone up significantly over the past few years. According to NK Garg, CEO, Sahara MF, micro-SIPs will enable small investors to participate in the economic development of the country. “Our Rs 10-a-day scheme that awaits Sebi approval will target daily wage-earners in a big way. We plan to service small investors at their doorstep. We’ll do it using different strategies, including NGOs and other peer-leader set-ups,” adds Mr Garg. The challenge for AMCs will be to ensure that their products reach grassroots, especially at a time when distributors are not keen to push MF schemes, the post-entry load ban since August this year.
MASS BASE
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F&O range spread offers big scope to hedge cash holdings
Contributed by Apurv Gupta, Santosh Nair, Reena Zachariah & Shailesh Menon
NSE Will Allow Traders To Invoke New Strikes For Stock Options Nishanth Vasudevan MUMBAI
TRADERS and investors will soon have more scope to use stock options to hedge their cash market holdings or bet on an event, after the National Stock Exchange’s (NSE) move to revise the intervals for strikes of stock options. The exchange said, last week, it would widen the range for stock options contracts in a trading session for traders from January 29. The exchange will also permit options traders to invoke new strikes for stock options, till a limit, within trading hours. This move is of importance, as traders will be in a better position to use stock options to capture sharp movements in a share on the back of a news
TOP
event. Now, exchanges introduce fresh strikes in stock or index options at the start of a trading session. “It’s a positive development, especially the move will help invoke strikes during trading. But for improving volumes, we need to widen investor participation like allowing insurance companies to trade in derivatives,” said Vijay Kanchan, VP-derivatives, Dolat Capital. Buying options is like an purchasing an insurance, where a buyer pays to premium to a seller to bet on the direction of a stock or index. But the exchange-imposed restrictions on the number of strikes available during trading hours prevented traders from in-
voking contracts of strikes that are distant from where the stock or index is trading. This difficulty was experienced after the Satyam accounting scandal broke out last year, which triggered a sharp in the stock over the next couple of days. Brokers had complained to NSE that clients could not trade Satyam options, as the drop was sharper than the number of strikes that were available. They had demanded invoking strikes during trading hours even for index options, but the exchange is yet to provide this facility. Currently, the number of contracts for stock options available in a day are three strikes above and below the
market rate. But the intervals in strikes vary on the basis of the stock denomination. For instance, the strikes available for a stock at Rs 1,000, other than 1,000 itself, has been 1,100, 1,200 and 1,300 on the upsides and 900, 800 and 700 on the downside. For a stock, with lower denomination, say Rs 50, the intervals have been 50, 52.5, 55 and 57.5 on the upside and 47.5, 45 and 42.5 below. After January 29, the number of contracts for stock options in a day are five strikes above and below the market rate, an exchange release said. So, a stock at Rs 1,000 would have strikes available till 1,500 on the higher side and 500 below the market rate. nishanth.vasudevan @timesgroup.com
PICKS OF THE DAY READING THE CHARTS ARSHIYA
BUY LAST CLOSE Rs 160
Ashish Shroff TECHNICAL ANALYST
AMBIT CAPITAL (Views expressed are personal. The chartist may have interest in some or all the stocks.)
RIL
BUY
NAGARCON
BUY
TITAN
SELL
INFOSYS
SELL
LAST CLOSE Rs 1066.35
LAST CLOSE Rs 156.05
LAST CLOSE Rs 1297.05
TARGET Rs 225
TARGET Rs 1150
TARGET Rs 190
TARGET Rs 1240
TARGET Rs 2200
STOP LOSS Rs 130
STOP LOSS Rs 1035
STOP LOSS Rs 130
STOP LOSS Rs 1390
STOP LOSS Rs 2568
The stock is forming bullish head-and-shoulder pattern and the momentum indicators on daily chart of are trading in buy mode. In the near term, the stock, which has risen 22% in a month, could target Rs 225 levels.
The 10-DMA has crossed over the 20-DMA from down. This crossover is signalling that there is a possibility of more upside in the stock. I would recommend to buy with a target of 1150 and stoploss would be at 1035.
Last week, the stock saw a sharp correction and the daily and hourly RSI is now in oversold zone, suggesting that downside is limited. On weekly charts, it’s consolidating and is trading near lower end of the trading band.
The stock had broken past a crucial support level of Rs 1,360, which would act as a resistance level in the near term. The MACD, on daily chart, is in the sell mode and the stock had also seen the bearish triangle.
LAST CLOSE Rs 2498
On the weekly chart, all the momentum indicators are showing negative divergence. Also, the RSI is trading in overbought zone. The stock had a good run-up in past weeks and indicators are now stretched.
Hang Seng 22085.75 (
0.84%)
TODAY’S BETS
Nifty likely to break 5,200 in current expiry THE Nifty once again started the week on a negative note, closing lower 12 points with a discount of Rs 3.45 in the near month and open interest buildup of about 13 lakhs shares. In Nifty options, strikes between 5,100 and 5,300 continued to see some build-up in short-positions on a regular basis by about 3-4 lakh shares. On the Put side, strikes of 4,900 and 5,000 also saw shorts being built to the extent of about two lakh shares each. In early trades, the Nifty moved in range with a positive bias. However, in early afternoon trades, the index witnessed abrupt selling on media reports that Reliance Industries is concerned about the bankrupt Dutch petrochemical company LyondellBasell’s high debt levels of more than 12% to its lenders. Future and Option (F&O) indicators suggest that the Nifty will definitely break 5,200 levels in the current expiry itself. Hence, we remain positive on the market. Among sectors, banks, FMCG, IT and Telecom were the losers, while whereas cement and pharma provided support to the Nifty. Inflation for November at 4.78% dragged banking stocks lower with open interest buildup in the futures segment. In the telecom sector, Bharti Airtel was down 4%, with short-position creation of about 12 lakh shares, whereas MTNL was down by 2% and open interest was up by 14 lakh shares. Cement counters showed some strength, with a build-up of long position in their stock futures. Pharma stocks witnessed a mixed trading session. Rajiv Varma Senior Analyst-Derivatives India Infoline
WHAT TO WATCH OUT FOR INDIA DLF will consider integration of Caraf Builders & Constructions with its subsidiary DLF Cybercity Developers. Godrej Consumers Products will consider raising additional funds. Dhunseri Tea & Industries will consider demerger of Jaipur Packet Factory and investment division. South Asian Petrochemicals will consider the amalgamation Dhunseri Tea and Industries. Engineers India will consider an interim dividend
WORLD US will release its industrial production figures for November. UK will release inflation data (the headline consumer price index) for November.
Market dips as rate fears trigger selling AFP MUMBAI
DOMESTIC stocks fell 0.13% on Monday, erasing intra-day gains, on concern that the central bank may soon hike interest rates after data showed inflation has jumped to a 10-month-high, dealers said. The benchmark 30-share Sensex closed down 21.48 points at 17,097.55. Shares rose in morning trade, mirroring a recovery across global markets, as concerns eased over Dubai’s debt woes on news that Dubai received a 10-billion-dollar bailout from oil-rich Abu Dhabi. But investors sold rate-sensitive banking and housing stocks in afternoon trade after data showed a sharp rise in India’s inflation rate, increasing pressure on the Reserve Bank of India to tighten monetary policy. The wholesale inflation rate, India’s closest watched inflation measure, increased by 4.78% in November from a year earlier after rising by 1.34% in October, fuelled by soaring food prices. “Banking stocks fell on concerns about an interest rate hike due to rising inflation,” said Atul Hatwar, deal-
er at brokerage Crosseas Securities. India’s policymakers have said they will keep a watch on inflation and take action once they are assured that growth is back on track. Recent official figures showed that India’s economy grew by 7.9% in the fiscal second quarter, the best performance in 18 months, on the back of government spending and record low interest rates. Indian markets have seen a surge in foreign capital flows which have pushed the Sensex up more than 77% this year and the rupee up to a one-year high against the dollar. The Sensex has more than doubled since March this year. Losers led gainers 1,670 to 1,167 on turnover of $880 million. The country’s largest lender, State Bank of India, fell Rs 17.45, or 0.77%, to 2,248.3, while private lender ICICI Bank lost Rs 12.85, or 1.49% to 850.4. India’s private housing finance giant HDFC fell Rs 10.2, or 0.38% to 2,682.95 on concerns that housing loan rates could rise. India’s biggest mobile phone firm Bharti Airtel fell Rs 11.5, or 3.47% to 319.85.
MARKETS
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009 *
ET INDICES Cement 8760 (
RAW MATERIALS
India Inc’s bills may start piling up again
3.20%)
Capital Goods 17050 (
15
1.13%)
Sugar 22919 (
1.58%)
Bear-market buybacks pay off for bravehearts Patni, Bosch, DLF, Rel Infra & Jindal Polyester Gain The Most From Share Buybacks
Tele 1483 (
MID-TERM PICKS BROKING HOUSE: RBS
HINDUSTAN ZINC BUY
MARKET PRICE: Rs 1,186.45 TARGET PRICE: Rs 1,529 THE COMPANY operates in the lowest-cost quartile globally owing to its integrated operations. We expect a compounded annual growth rate of 30% and 39% in revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) respectively over FY10-12.
Kiran Kabtta Somvanshi ET INTELLIGENCE GROUP
OVER the past three quarters, India Inc has enjoyed the comfort of low raw material prices, which helped companies post healthier bottomlines after suffering the burden of high commodity prices 18 months ago. However, the party may soon end. In fact, for some companies, it’s already over, An analysis of the last nine data points (on a trailing four quarter basis) shows that India Inc’s raw material costs closely follow the trajectory of commodity cycles. The prices of raw materials started rising from mid2007 and peaked in the subsequent year. Thereafter, they have been steadily declining. The trend tracks the bull and bear runs in the commodity sector. However, commodity prices in the past three-tofour months have again started moving up globally. Be it energy, base metals, precious metals and food commodities – the prices of all the basic raw materials required for manufacturing industry are climbing up. The UBS Bloomberg Commodity Index has risen by 36% in the past three quarters. Earlier it had dropped by 50% between the September2008 to March 2009 quarters. Similarly, the Rogers International Commodity Index has moved up by 32% during the same period after registering a drop of 57% earlier. Manufacturing companies in India can hardly stay insulated from the action happening in the global commodity markets. With inflationary pressures in the Indian economy, commodity prices are yet again climbing up to record levels. In the past three quarters, companies reported savings in their raw material costs compared to the corresponding periods in the previous year. However, the current quarter is unlikely to see a repeat performance. Savings, if any, are expected to be small — with companies likely to complain of a cost-push due to rising raw material prices. Many may well caution their investors to expect a possible blip in raw material costs, going ahead. And the small and medium enterprises (SMEs) may be the worst affected. While large companies have economies of scale and enjoy a higher credit period from their suppliers, that is not the case with small- to mid-sized firms. They are likely to face a working capital crunch and their credit requirements may again be higher. For a good part of this fiscal, there was a surge in the fortunes of smaller players in most industries — this emerging trend may soon wither away in the face of a rising raw material bill.
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TITAGARH WAGONS
Merger synergies to drive growth Ashish Kumar Agarwal ET INTELLIGENCE GROUP
THE approval of merger of Titagarh Wagons (TWL) with Titagarh Steel (TSL) paves the way for a more integrated set up, and will help the combined entity achieve some degree of backward integration in a highly volatile commodity market. While the sales and profit accretion may not be sharp immediately, the combined entity can hope to gain significantly in the medium-term, with cost reduction aided by the ability to push more aggressively in a highgrowth market. TWL is primarily engaged in the manufacture of wagons, earth moving & mining equipment and steel castings. Wagons account for more than 70% of its sales, with Indian Railways accounting for 30-40% of its total revenues. TSL manufactures steel castings used in the fabrication of railway wagons and other heavy engineering products, with capacity of about 15,000 tonne/annum. TWL had sales of about Rs 700 crore in FY09 and profits of Rs 65 crore. However, it is still reeling under the impact of meltdown, recording sales and profit decline of nearly 45% in the first half of FY10. In contrast, TSL is a relatively small company, with sales of Rs 90.5 crore, but recorded a loss of Rs 5.5 crore in FY09. However, FY10 has been better so far for TSL, with the company managing profits of around Rs 1 crore in the first half of FY10, still a decline of about 35% over the first half of FY09. The merger will reduce the susceptibility of both the companies to fluctuations in commodity prices. And the price variation clause on certain high value projects will also help the combined entity protect their margins. The swap ratio of 1:36 (one share of TWL for 36 shares of TSL) looks slightly biased in favour of TWL based on the current stock price. However, considering the current financial position of the two companies and the gains accruing to TSL shareholders from the merger, it is certainly a good deal. TSL also stands to gain from its exposure to the high-growth market in which TWL is operating. TSL’s own market is dominated by large players, and the company, as a small player, had limited growth possibility. The merger will not impact the parent company significantly, as it will result in stake dilution of only about 2%. The markets have reacted positively to the news, and the stocks of both the companies moved up by 3.5% and 4.5%, respectively. The optimism of the market is quite justified, and investors can look forward to better growth and profitability for the combined entity.
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2.87%)
PUNJAB NATIONAL BANK Vijay Gurav MUMBAI
T
HE decision of many companies to buy back their shares appears to have paid off, as valuations have improved substantially subsequent to the purchase of the shares from the open market. An analysis of returns offered by the 33 companies which bought back shares in 2009 shows that most of the stocks are currently quoting much higher than their respective offer prices. The list includes DLF, Patni Computer, Bosch, Reliance Infrastructure, EID Parry, HEG and SRF. The overall bullish mood in the market and hopes that the reduced equity base will improve the earnings ratios of these companies have boosted the stock prices, say analysts. Most of these companies had initiated buyback programmes during late 2008 and early 2009 when val-
uations were near rock-bottom. This allowed them to stabilise the stock price through open market purchases, and at the same time, reduce the equity base without over paying. The top five spenders among the 33 companies bought back shares worth Rs 793 crore in the current year, which is almost half the current value of the same shares. According to analysts, companies that buy back shares in a weak market generally outperform in bullish conditions. A company buys back shares either through tender offer or directly from the open market, if it feels that the market price is lower than the intrinsic value. The objective behind the move is to support the price and it also shows the management’s confidence in the prospects of the company, say analysts.
“When a company buys back shares, it leads to improvement in the fundamentals, as the company’s equity capital is reduced to the extent of the shares purchased,” said Ajay Parmar, Emkay Global Financial Services, head of institutional broking. For instance, the same earnings get divided among lesser number of shares, thus boosting the earnings per share (EPS). Leading the pack, IT company Patni Computer Systems bough back 1.1 crore shares for Rs 237 crore. The average acquisition price worked out at Rs 216.3 per share against the offer price not exceeding Rs 325. The stock closed flat at Rs 459.9 on Monday. In October, auto ancillary company Bosch closed its buyback programme under which the MNC acquired 6.5 lakh shares for Rs 200 crore. The average purchase price
MONEY MAKERS
BUY
was Rs 3,069.2 against the offer price and current market price of Rs 4,500 and Rs 4,625.5, respectively. Delhi-based realty major DLF also figures among the current year’s top spenders, buying back 76.4 lakh shares for Rs 141 crore. The average acquisition price, offer price and the current market price were Rs 184.2, Rs 600 and Rs 382.7, respectively. As valuations started recovering from the second quarter, some companies have found it difficult to go ahead with the buyback plans because of the narrowing gap between the offer price and market price. This prompted them either to stop buying from the open market or discontinue the programme. GTL, Apollo Tyres, India Infoline and Indiabulls Securities are a few companies whose buyback offers were impacted by the sharp recovery in the stock market in mid-2009.
MARKET PRICE: Rs 915.30 TARGET PRICE: Rs 1,342 AN IMPROVING macro environment and the bank’s recent equity capital raisings have reduced asset-quality concerns. We have partially rolled back our FY10-12 provision for nonperforming loans. We also see a pick-up in loan growth and margins led by liability repricing.
CROMPTON GREAVES BUY
MARKET PRICE: Rs 409.90 TARGET PRICE: Rs 443 THE COMPANY is focusing on domestic transmission and distribution spend. It’s spending on strengthening its grid in the US and Europe. We expect a CAGR in profit after tax of 18% over FY09-12, compared to the sector average of 9%. The valuation gap with the multinational peer group may narrow.
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PATNI COMPUTER SYSTEMS
Infomedia turns to rights for growth
BUY
MARKET PRICE: Rs 459.90 TARGET PRICE: Rs 550
Co Banks On Rights Issue To Clear Debt & Advertising Revenues To Boost Publishing Biz Rajesh Naidu ET INTELLIGENCE GROUP
IN THE past 11 months, Infomedia 18, the company especially known for publishing special interest magazines, has barely given 2% returns to its investors. The company’s stock has hardly moved from the Rs 70-mark. On Friday, the scrip closed at Rs 71.25. The stock was trading at close to Rs 70 as of January 1, 2009. Besides the major development wherein Television 18 took a controlling stake in the company, Infomedia 18 recently announced the approval of its board for a rights issue to raise around Rs 100 crore. This announcement has brought the stock on the investors’ radar. On Friday, the stock touched an intra-day high of Rs 91.4 and closed at Rs 71.3. The company is offering a 2:3, i.e. for every two shares of Infomedia 18, investors will get three shares. The issue has been priced at Rs 33.5 per share. The company has fixed December 21, 2009 as the record date for deciding the entitlement of the
rights issue of equity shares. The issue will open on December 29, 2009 and close on January 15, 2010. Infomedia 18, which is one of the leading printers of magazines and directories in India, has been making losses for nearly three years now. Over the past few years, revenues from printing services have stagnated and publishing now accounts for nearly 70% of its revenue. In the past four financial years, printing has stagnated at around Rs 40-45 crore per annum, while revenues from publishing grew from Rs 60 crore in FY02 to Rs 105 crore in FY08 before falling to Rs 88 crore in FY09. Besides, revenue stagnation and poor profitability, the company is also struggling with a huge debt load. As of FY09, the company’s debt equity ratio was 3:1. It has a total debt outstanding of around Rs 103 crore by the end of last year. This has forced the company go for financial restructuring. As a first step it has written off Rs 24 crore worth of its investments in subsidiaries and joint ventures.
WINDOW TO
AN IMPROVING demand environment may sustain a 2-3% quarter-on-quarter volume growth in FY10. Cash (Rs139 per share) constitutes 30% of the stock’s current market cap. We value the stock at a 25% discount to Infosys on our 12-month forward target PE (price to earnings).
MAHINDRA & MAHINDRA BUY
The company now seeks to use the proceeds from the rights issue to clean up the balance sheet and start its growth trajectory afresh. But it will take at least two to three years for the benefits to start showing on the company’s balance sheet and its P&L account. In the interim, shareholders can only hope for a revival in the advertising market which will boost its publishing division.
MARKET PRICE: Rs 1,037.20 TARGET PRICE: Rs 1,138.7 M&M IS on the verge of delivering a series of new products and exporting pick-up trucks to the US from its new plant in Chakan beginning in Q3FY10. This should sustain momentum in volume growth. We value the standalone unit at 12x FY11F and the subsidiaries at Rs 293.60/share.
DISCLAIMER: The views expressed in these pages are from brokerages, analysts and fund managers. Readers should seek professional investment advice before acting on any recommendation. ET does not associate itself with the choices. Check out the ET Code of Ethics at www.economictimes.com
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Re falls 19p, bonds show mixed trend
THE WORLD
From Goldman Sachs to banks in the United Kingdom & France, bonus-happy securities firms are under the gun all over the world
WALL ST BONUS CULTURE R.I.P
the first nine months of this year, the amount was $16.7 billion. There were outcries from Washington to Walla Walla from folks who thought Goldman, as a recipient of government bailout money, should have been more circumspect.
David Pauly NEW JERSEY
C
ONDOLENCES to Wall Street’s finest. The huge cash bonuses they have longed for and savoured are history. Goldman Sachs Group, the profit king of the securities business, has made sure of that. Goldman last week said its 30 top executives will get their traditional year-end bonuses in stock instead of cash — and the shares have serious restrictions. Recipients won’t be able to sell the stock for five years, though it vests in three. And they might lose the shares if Goldman determines later that the executives earned them by taking heedless risks. Goldman shareholders now will also be allowed to vote on the company’s pay, though their yes or no won’t be binding on management. Bonuses per se aren’t dead. Goldman and rivals Morgan Stanley and JPMorgan Chase will dish out $29.7 billion in 2009 bonuses, analysts estimate. Some of that should be in cash, and the stock handed out will, with luck, be worth a nice sum years from now. But the time-honoured bonus culture featuring large cash payments needed to end. Even a Goldman Sachs director admitted that the day before the firm’s new bonus arrangement was announced. William George, who is also a professor at Harvard Business School, said the practice “has got to move on,” and that compensation needs to be closely tied
NO DICE
From A Flood To A Trickle
to long-term performance.
REDUCING RISK Instead of 60% of investment firm pay coming from year-end handouts, more will be in salary. And there may be less of that too, because of the pressure on banks from the government and myriad critics to become sounder institutions by raising capital and taking fewer risks. That will reduce profit and the ability to pay. The bonus era seemed over a year ago, when Wall Street eliminated the payouts after those horrendous losses on mortgage-related securities. Then this year, Goldman began earmarking a percentage of its 2009 profit, which has been large, for bonuses. For
The firm tried to justify the resurrection of bonuses by claiming repeatedly that it hadn’t needed a rescue. That was nonsense, in light of the facts. Goldman got a $10-billion investment from the government under the Troubled Asset Relief Programme, which it has repaid, and has sold debt guaranteed by the Federal Deposit Insurance. Perhaps more important, it also raised about $16 billion by selling preferred and common shares. Bonus-happy securities firms are under the gun elsewhere. The UK last week said that banks there must pay a one-time tax of 50% on discretionary bonuses exceeding £25,000 ($40,500). Nicolas Sarkozy, the president of France, said he too would tax bonuses this year. French officials said the levy would be on payments of more than €27,000 ($39,400). Funny thing is, banks are hurrying to pay back government investments to escape curbs on their pay imposed by politicians. Bank of America sold $19.3 billion of new securities to help repay $45 billion to the US. The bank diluted its per-share earnings base, only to find the day of huge bonuses gone. — Bloomberg
Agencies MUMBAI
Dubai pledge is a ‘giant step,’ worst over: Mobius Michael Patterson LONDON
DUBAI’S pledge to adopt global standards on transparency and creditor protection is a “giant step in the right direction” and the worst of the emirate’s debt crisis is over, investor Mark Mobius said. “They said that going forward they wanted to become more transparent and keep people fully informed,” Mobius, who oversees more than $30 billion as chairman of Templeton Asset Management, said in a phone interview from Riyadh on Monday. “That is a very giant step in the right direction. By making that statement, Dubai will be able to have a foremost position here in the Middle East.” The emirate said it’s committed to “transparency, good governance and market principles” in a statement on Monday that announced a new bankruptcy law and a $10-billion bailout of state-owned company Dubai World. “Some of these debts still have to be restructured,” said Mobius. “But the worst is over. To the degree that Dubai really emphasises transparency and good corporate governance, they can really become a big leader, not only in the Middle East but globally.” Dubai World will use the bailout money from Abu Dhabi, the wealthiest of the seven sheikhdoms that comprise the United Arab Emirates, to repay the Nakheel debt that comes due today. The rest will cover Dubai World’s interest and operating costs until the company reaches a standstill agreement with its creditors,. Mobius said he’s travelling to Dubai tomorrow to meet with companies and that there are “very good opportunities” in the emirate’s stock market for long-term investors. Templeton owns shares of Emaar Properties, the developer of the world’s tallest tower in Dubai, and DP World. —Bloomberg
THE rupee on Monday depreciated by 19 paise to close at 46.72/73 a dollar on fresh demand for the US currency from banks despite weakness of the greenback in the global market. Dealers attributed the fall in the rupee to fresh dollar buying by banks and importers. However, the euro rose against the dollar in the overseas market after Dubai’s announcement that it had received $10 billion from Abu Dhabi to repay debts. The dollar weakened broadly on news, which initially triggered selling in the yen as it eased worries about a possible debt default by Dubai. Meanwhile, call rates ended higher at 3.35% on the overnight call money market on Monday due to fresh demand from borrowing banks while government bonds showed a mixed trend owing to alternate bouts of buying and selling. The 6.35%-government security maturing in 2020 shot up to Rs 91.75 from Rs 91.46 previously while its yield declined to 7.53% from 7.59%. The 8.28% government security maturing in 2032 firmed up to Rs 99.45 from Rs 99.25 while its yield moved down to Rs 8.33% from 8.35%. The 8.24% government security maturing in 2027, the 6.90% government security maturing in 2019, the 7.50% government security maturing in 2034 and the 7.02% government security maturing 2016 also quoted higher at Rs 99.41, Rs 95.55, Rs 91.20 and Rs 98.05, respectively. However, the 6.85% government security maturing in 2012 and the 7.40%-government security maturing in 2012 were quoted lower at Rs 100.75 and Rs 102.05, respectively.
PERSONAL FINANCE
16 QUERY CORNER TAX
VAIBHAV SANKLA EXECUTIVE DIRECTOR, ADROIT
OUR EXPERT HELPS YOU
UNDERSTAND THE COMPLEXITIES OF TAX IN THIS WEEKLY COLUMN. EMAIL TO etquerytax
@indiatimes.com I intend to stay in a flat that I jointly own with my mother. My parents stay in a house owned by my father in Ahmedabad. I have taken a Rs 20-lakh loan from my father to purchase the flat. If I pay rent (50% of market rent) to my mother, can I claim tax benefit on HRA? Can I also claim interest deduction till Rs 1.5 lakh? NIKSHEP
As per section 10(13A) of the Income-Tax Act, 1961, an assessee cannot claim exemption with respect to HRA if s/he owns the residential accommodation. The section is silent about the percentage of ownership but even part ownership of a residential accommodation would disqualify the assessee from claiming exemption. You can claim interest payable to your father provided a certificate specifying the interest payable by you is obtained from your father. I purchased a flat two years ago for Rs 36.5 lakh. I will get possession of the flat in 15 days, after which I want to sell it for Rs 46.5 lakh. If I use the capital gains to offset against another existing home loan, would I still have to pay capital gains tax? Will registration expenses, one year maintenance charges and development charges be counted while calculating the cost of the possession? KV VITTAL
The house you are planning to sell would be classified as shortterm capital asset as the
holding period is less than 3 years. There is no exemption available on reinvestment. If you have other short-term capital assets (e.g. shares or mutual funds held for less than a year) which have depreciated in value, you can consider selling them at a loss which can be set-off against short-term capital gains on the sale of the house. One-time expenses such as registration fees and stamp duty can be added to the cost while computing the capital gains. But recurring expenditure like maintenance charges can’t be added to the asset cost.
Lest you leave ’em with a loan to worry about A
COVERING YOUR LIABILITIES Loan insurance covers are designed to take care of such liabilities if the policyholder dies. These covers are not merely for home loans, but also for vehicle loans, personal loans and education loans. However, it’s the home loan insurance that is more significant due to the long repayment period and the huge sum involved. Mortgage covers work like a simple term insurance plan, except that the sum assured keeps diminishing in line with the amount owed to the lender. Typically, these are single premium plans, wherein the the entire premium is paid upfront while buying the policy. However, typically, the premium amount is funded by the lending institution and the customer then repays the same as part of the EMIs. For joint borrowers, insurers offer cover for their respective shares of loan. Also, most policies are offered in conjunction with the bank which has extended the loan, which means that it cannot be purchased separately by the borrower from the life insurer. For instance, SBI Life will offer the product primarily to those who have availed of loans from SBI, and only ICICI Bank’s customers will be able to buy this cover from ICICI Prudential Life Insurance.
WHY OPT FOR IT For one, it relieves you of the anxiety of passing on the debt burden to your dependents. “This kind of insurance is particularly critical when the borrower has opted for an under-construction property, with a certain tenure of moratorium attached to the loan repayment,” explains SBI Life executive director Anand Pejawar. In the event of the borrower’s death, the bank has a right to attach the property, his/her family is staying in, to clear the outstanding against the loan, if the dependents are not in a position to repay the same. “In such circumstances, this policy plays a vital role by paying the entire sum assured to the bank as on that date of the insured’s death, wherein the outstanding in the books of the bank is cleared and the balance, if any, can be paid to the nominee/dependent of the customer,” he adds. Also, you do not stand to lose if you prepay the loan. In such cases, the policy will be considered surrendered as the underlying liability (home loan) no more exists. A portion of the unutilised insurance for the remaining period of the tenure is paid back to the customer on obtaining a No Objection Certificate (NOC) from the bank. “Usually, this surrender value calculation is mentioned on the certificate of insurance (CoI), which is communicated to the customer upfront,” says Mr Pejawar.
S PRABHAT
Bharti AXA General Insurance has introduced four add-on covers for its motor insurance portfolio. The covers — hospital cash, medical expenses reimbursement, ambulance charges and depreciation — will be available with the company’s SmartDrive Private Car policy. While the first three covers are concerned with claims emanating from injury to the insured while travelling in the insured vehicle, the depreciation add-on provides depreciation cover to the insured in case of replacement of vehicle parts, arising out of accident to the insured vehicle.
A ROOF ABOVE YOUR HEAD Home Loan Insurance PROS The entire amount due is repaid by the life insurer, thus ensuring that your dependents do not have to worry about selling their house to repay the loan. You don’t stand to lose out if you prepay the loan, as the extra premium paid is returned to you upon repayment. The total premium outgo is cheaper than a simple term insurance cover of the same sum assured and term.
ICICI Lomb offers overseas student travel cover
CONS Covers only liabilities and hence, falls short when it comes to providing for dependents’ other needs in the event of the policyholder’s death. Premium has to be paid upfront,but can be funded as part of home loan with most lenders. If, while taking a home loan, you do not have a life cover, taking a term plan for the maximum sum assured possible may work out to be a better option. Can be purchased only from the insurer who has a tie-up with your lender bank, thus limiting your choice
ICICI Lombard General Insurance has introduced its Overseas Student Travel insurance — Gold Plan, which provides cover against medical expenses for students planning to study abroad. It offers to reimburse expenses related to accident and dental treatment, and also provides additional covers such as personal liability, bail bond, sponsors protection, repatriation of remains and checked-in baggage loss. The plan offers up to $7,500 if studies are interrupted on account of a medical condition or compassionate reasons on the family front. Before buying the policy, the student can compare his/her university’s requirements with ICICI Lombard’s offerings on the company’s website to ensure that the policy complies with the same.
IS PLAIN TERM COVER A BETTER OPTION?
While there is no denying that covering one’s liabilities is extremely important, you also need to consider the other options available before buying a loan insurance. With term insurance rates across players registering a fall, financial planners feel that this would be a better option compared to a cover bundled with a loan. “While the sum assured remains constant in this case, in loan insurance, the cover decreases as the amount due goes down. This apart, if lenders fund home loan insurance’s premium, the cost incurred for the same will be factored in into your EMI,” says financial planner Amar Pandit. Besides, buying a single large term cover would ensure that the othLOW PREMIUM The insurance premium is based on the loan er needs of your family, apart from loan repayamount, age of the borrower and the tenure of ment, are also taken care of. In absolute terms, home loan insurance is cheapthe loan. The customer can choose the initial sum assured equal to the loan amount or the out- er than an individual term cover — the difference standing amount. For instance, in case of ICICI between the cost of the home loan cover from ICICI Prudential Life, if a 30-year-old female wishes to Prudential Life and the company’s Pure Protect Elite buy this cover for a home loan of Rs 40 lakh with term plan for the aforementioned example is more a repayment period of 15 years, it will entail a pre- than Rs 40,000. (Sum assured of Rs 40 lakh, with a mium of Rs 65,400. “Upon the policyholder’s 15-year term). “Also, usually, the underwriting death during the term of the plan, the benefit norms in all companies are also quite different from based on the original EMI schedule is payable. a pure term plan. In case of home loan covers, the This benefit will be used towards paying the out- non-medical limits are quite high compared to term standing loan amount and surplus would be giv- plans,” says Mr Pejawar. For those who are adeen to the nominee, if any,” informs Pranav quately insured prior to taking the loan, credit inMishra, senior vice-president and head — prod- surance could be a better option. ucts, ICICI Prudential Life Insurance.
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Tax laws can be unfair at times. Fixed percentage provision would apply even if a small recovery is made from your salary. You would be able to avoid perquisite valuation rules if you pay the amount of fair rent to the employer. It can then be argued that you have not received any concession in the matter of rent in respect to such an accommodation.
Bharti AXA unveils four add-on motor covers
A home mortgage insurance is the next best gift that you can give to your dependents after you have bought them a home with a loan. Preeti Kulkarni tells you why MARKETING document of a mortgage cover plan sums up the importance of the cover — ‘ensure that your family inherits your home — not your home loan.’ Most home buyers, by the time they have received possession would have exhausted all their short-term savings and liquidity investments in interiors, brokerage payments, and down payments and other charges not covered in the home loan. While they do have a real estate asset, they also have a huge long-term liability. Few realise that in the event of their demise, their family will be faced with the tough choice of surrendering the house or discharging the liability.
I have a query on company accommodations. A percentage of full salary is treated as perk value. But if an employee has availed of leave encashment and it is added to salary, then perk value is more than rental value in that financial year. If a small deduction is being made from monthly salary, will the provision of value difference between fair rental value and deduction made by the company apply? Or is there any other method to keep housing perquisite value closer to fair rental value ?
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
Baroda Pioneer AMC lines up PSU bond fund Baroda Pioneer AMC has announced the launch of Baroda Pioneer Public Sector Undertakings (PSU) Bond Fund, an openended debt scheme. The portfolio of the fund will predominantly consist of PSU bonds and government securities of varying yields and maturities. The benchmark of the scheme is Crisil Bond Fund Index. The fund, which offers growth and dividend options, is ideal for those who have an investment horizon ranging from 6 months to 1 year, an official release said. Units will be issued at Rs 10 per unit, with the minimum application amount being Rs 5,000. The New Fund Offer is available from December 7-21, 2009.
SARFARAZ
ICICI Lombard offers online health policy covering OPD
Get higher returns and life-long income too Central Bank’s Revised Reverse Mortgage Scheme Packs In Some Goodies For Seniors
HAPPY RETURNS
CENTRAL Bank of India and Star Union Daiichi Life rate on the revised reverse mortgage product offered Insurance have launched a life-long reverse mortgage by the Central bank of India is 9.5%, (subject to reset annuity called CENT Swabhiman Plus. Through this at the end of two years from the first drawdown) product, a senior citizen can earn a monthly/quarter- against 12.5% charged on a regular reverse mortgage ly/half yearly or annual income as mutually agreed by product, resulting in higher payouts. There are two the borrower and the bank against his/her home. The variants within this product. Under the first option, the annuitant receives a life anannuity continues till the individCENT SWABHIMAN PLUS nuity at a constant rate till he ual survives. This is a tweaked survives. In the other, the annuversion of the earlier reverse itant will receive annuity for life mortgage scheme, under which with return of purchase price on the annuity payment would stop his death. This product is availin 20 years although the individable for senior citizens above 60 ual could reside in the house till years of age. In case of co-bordeath. But after receiving feedrowers, at least one of the borback about insufficiency of a 20year cap on annuity payments, NHB had asked banks rowers should be above 60 and the other should be and insurance companies to design a product to pro- above 55 years. Also, the owned property should be free from any encumbrances. The bank will lend up vide a life-time annuity to senior citizens. This product also promises a higher return. Insur- to 60-75% of the value of property. One of the main advantages of the scheme is it proers have computed the annuity using mortality charts whereas banks discounted the property value at a vides a lifetime income stream, which could be used specific rate to calculate the payouts. Also, the interest for their financial needs, be it house renovation, med-
ical and other personal purposes. The borrower can also opt for 25% of the loan amount (maximum amount capped at Rs 15 lakh), which can come in handy in case of contingencies. However, the bank doesn’t encourage the borrowers to use this money for trading and speculative purposes. The ground has been just set by the state-owned bank for reverse mortgage annuity products in India. But even as all payments under reverse mortgage loan are exempt from Income Tax under Section 10(43) of the Income-Tax Act, 1961, the monthly or periodic annuity payments are defined as ‘salaries’. Hence, it is taxable in the hands of the senior citizens under Section 17 of the I-T Act. Any amount received as a loan either in lumpsum or instalments under such scheme, is also not regarded as income and hence, not liable to income tax. Also, the bank reserves the right to foreclosure of the annuity if the borrower has not stayed in the property for a continuous period of one year. This could be an issue for a senior citizen if s/he has to move in with his/her son/daughter because of an ailing health or any other reason.
WHY GO FOR IT: It provides an income stream to the senior citizen till s/he is alive. WHAT IS THE CATCH: The annuities are taxable in the hands of senior citizens. Also, the bank reserves the right for foreclosure of the annuity if the borrower has not stayed in the property for a continuous period of one year.
NAV (Rs.)
AIG Global Invt Equity-D . . . . . . . . . . . . . . .11.29 Equity-G . . . . . . . . . . . . . . .11.29 Equity-ID . . . . . . . . . . . . . .11.47 Infra&Eco Ref-D . . . . . . . . . .8.67 Infra&Eco Ref-G . . . . . . . . . .8.67 Infra&Eco RefID . . . . . . . . . .8.77 Infra&Eco RefIG . . . . . . . . . .8.77 Liquid Sup-IDD . . . . . . . .1001.00 Liquid Sup-IG . . . . . . . . .1172.90 Liquid Sup-IWD . . . . . . .1001.00 Liquid-IDD . . . . . . . . . . .1001.00 Liquid-IG . . . . . . . . . . . . .1170.28 Liquid-IWD . . . . . . . . . . .1001.00 Liquid-RtDD . . . . . . . . . .1001.00 Liquid-RtG . . . . . . . . . . .1162.25 Liquid-RtMD . . . . . . . . . .1002.72 Liquid-RtQD . . . . . . . . . .1007.84 Liquid-RtWD . . . . . . . . . .1001.00 World Gold-D . . . . . . . . .11.87 World Gold-G . . . . . . . . .11.87 Baroda Pioneer Balance -D . . . . . . . . . . . . .26.00 Balance -G . . . . . . . . . . . . .25.74 Elss 96 . . . . . . . . . . . . . . . .24.12 Gilt -D . . . . . . . . . . . . . . . . .12.20 Gilt -G . . . . . . . . . . . . . . . . .12.20 Growth -D . . . . . . . . . . . . . .27.63 Growth -G . . . . . . . . . . . . . .49.05 Liquid -D . . . . . . . . . . . . . .13.53 Liquid -DD . . . . . . . . . . . . .10.06 Liquid -G . . . . . . . . . . . . . . .15.79 Liquid-IDD . . . . . . . . . . . . .10.01 Liquid-IG . . . . . . . . . . . . . . .10.42 MIP -G . . . . . . . . . . . . . . . .12.18 MIP -MD . . . . . . . . . . . . . . .12.18 MIP -QD . . . . . . . . . . . . . . .12.18 Benchmark Bank BeES . . . . . . . . . . . .898.90 Gold BeES . . . . . . . . . . . .1674.89 Junior BeES . . . . . . . . . . .101.94 Liquid BeES . . . . . . . . . .1000.00 Nifty BeES . . . . . . . . . . . .511.92 PSU Bank BeES . . . . . . . .334.31 Shariah BeES . . . . . . . . . .121.40 Bharti AXA Equity Eco-B . . . . . . . . . . . .17.77 Equity Eco-D . . . . . . . . . . . .13.48 Equity Eco-G . . . . . . . . . . . .17.77 Equity Eco-QD . . . . . . . . . .15.62 Equity-B . . . . . . . . . . . . . . .17.71 Equity-D . . . . . . . . . . . . . . .13.44 Equity-G . . . . . . . . . . . . . . .17.71 Equity-QD . . . . . . . . . . . . . .15.59 Liquid-DD . . . . . . . . . . . .1000.00 Liquid-G . . . . . . . . . . . . .1083.15 Liquid-IDD . . . . . . . . . . .1000.00 Liquid-IG . . . . . . . . . . . . .1090.92 Liquid-SupIG . . . . . . . . .1093.31 Liquid-WD . . . . . . . . . . .1000.00 Tax Advt Eco-D . . . . . . . . . .21.28 Tax Advt Eco-G . . . . . . . . . .22.49 Tax Advt-D . . . . . . . . . . . . .21.25 Tax Advt-G . . . . . . . . . . . . .22.45 Birla Sunlife 95 Pl.A -D . . . . . . . . . . . . .109.40 95 Pl.B -G . . . . . . . . . . . . .265.86 Advantage-A . . . . . . . . . . . .93.89 Advantage-B . . . . . . . . . .149.13 Balance -D . . . . . . . . . . . . .19.93 Basic Inds-D . . . . . . . . . . . .10.21 BasicInds A-D . . . . . . . . . . .30.30 BasicInds B-G . . . . . . . . . . .94.47 BuyIndia A-D . . . . . . . . . . . .23.10 BuyIndia B-G . . . . . . . . . . .35.97 Cash+ -IFnD . . . . . . . . . . . .10.82 Cash+ ID . . . . . . . . . . . . . .10.80 Cash+ IG . . . . . . . . . . . . . .24.61 Cash+ IWD . . . . . . . . . . . . .10.81 Cash+ RtD . . . . . . . . . . . . .16.37 Cash+ RtG . . . . . . . . . . . . .24.24 Cash+ Sweep-D . . . . . . . . .10.11 Cash+Prem-ID . . . . . . . . . .10.02 Cash+Prem-IFnD . . . . . . . .10.00 Cash+Prem-IG . . . . . . . . . .14.55 Cash+Prem-IMD . . . . . . . .10.02 Cash+Prem-IWD . . . . . . . .10.03 CashMgr A -IDD . . . . . . . . .10.00 CashMgr B -G . . . . . . . . . . .22.21 CashMgr C -IG . . . . . . . . . .15.21
SCHEME
NAV (Rs.)
CashMgr D -WD . . . . . . . . .10.01 CashMgr E -IWD . . . . . . . . .10.01 DivYield+ D . . . . . . . . . . . .13.57 DivYield+ G . . . . . . . . . . . . .68.85 FL Eqty A-D . . . . . . . . . . . .23.14 FL Eqty A-G . . . . . . . . . . . . .78.27 GSec LTF A-D . . . . . . . . . . .11.22 GSec LTF B-G . . . . . . . . . . .25.64 GSec ST A-RtD . . . . . . . . . .10.08 GSec ST B-RtG . . . . . . . . . .17.90 Gilt+ Liq A-D . . . . . . . . . . . .10.21 Gilt+ Liq B-G . . . . . . . . . . .20.65 Gilt+ Liq C-AD . . . . . . . . . .10.30 Gilt+ PF A-D . . . . . . . . . . . .10.28 Gilt+ PF B-G . . . . . . . . . . . .24.05 Gilt+ PF C-AD . . . . . . . . . . .19.02 Gilt+ Reg A-D . . . . . . . . . . .12.05 Gilt+ Reg B-G . . . . . . . . . . .30.72 Gilt+ Reg C-AD . . . . . . . . . .24.01 Index -D . . . . . . . . . . . . . . .19.71 Index -G . . . . . . . . . . . . . . .50.93 India Gennext-D . . . . . . . . .13.67 India Gennext-G . . . . . . . . .19.54 IndiaOpp A-DPo . . . . . . . . .18.68 IndiaOpp B-G . . . . . . . . . . .48.55 Infrastr A-D . . . . . . . . . . . . .13.70 Infrastr B-G . . . . . . . . . . . . .16.07 Intnl Eqty A-D . . . . . . . . . . . .8.81 Intnl Eqty A-G . . . . . . . . . . . .8.81 Intnl Eqty B-D . . . . . . . . . . . .8.79 Intnl Eqty B-G . . . . . . . . . . . .8.79 MIP A -D . . . . . . . . . . . . . . .11.23 MIP A -D . . . . . . . . . . . . . . .11.33 MIP B -G . . . . . . . . . . . . . . .33.53 MIP B Payment . . . . . . . . . .24.43 MIP C -G . . . . . . . . . . . . . . .24.43 MIP C -QD . . . . . . . . . . . . . .11.84 MIP Wlth25C-G . . . . . . . . . .16.58 MIP2 Sav5-MD . . . . . . . . . .11.32 MIP2 Sav5B-Paym . . . . . . .16.31 MIP2 Sav5C-G . . . . . . . . . .16.31 MIP2 Wealth25-D . . . . . . . .11.39 MIP2 Wlth25B-P . . . . . . . . .16.58 MNC Pl.A -DPo . . . . . . . . . .72.98 MNC Pl.B -G . . . . . . . . . . .161.04 MidCap -D . . . . . . . . . . . . .26.12 MidCap -G . . . . . . . . . . . .100.80 NewMillen A-D . . . . . . . . . .13.41 NewMillen B-G . . . . . . . . . .18.23 Tax -D . . . . . . . . . . . . . . . . .51.19 Tax -G . . . . . . . . . . . . . . . . .12.46 Tax Relief 96 . . . . . . . . . . . .86.28 Top 100-D . . . . . . . . . . . . .14.93 Top 100-G . . . . . . . . . . . . .20.06 Canara Robeco Balance -D . . . . . . . . . . . . .52.25 Balance -G . . . . . . . . . . . . .52.25 Emerg.Eqties-B . . . . . . . . .14.76 Emerg.Eqties-G . . . . . . . . .17.63 Emerg.Eqties-I . . . . . . . . . .12.19 Eqty Divers-B . . . . . . . . . . .23.12 Eqty Divers-G . . . . . . . . . . .46.72 Eqty Divers-I . . . . . . . . . . . .23.10 Eqty Taxsaver . . . . . . . . . . .21.47 Eqty Taxsaver-G . . . . . . . . .21.46 Gilt PGS -G . . . . . . . . . . . . .24.98 Gilt PGS -I . . . . . . . . . . . . . .10.90 Infrastr -D . . . . . . . . . . . . . .16.15 Infrastr -G . . . . . . . . . . . . . .20.27 Liquid -ID . . . . . . . . . . . . . .10.04 Liquid -IG . . . . . . . . . . . . . .16.56 Liquid -IWD . . . . . . . . . . . .10.04 Liquid -RD . . . . . . . . . . . . .10.04 Liquid -RG . . . . . . . . . . . . .16.53 Liquid-RetWD . . . . . . . . . . .10.05 Liquid-RtFnD . . . . . . . . . . .10.05 Liquid-RtMD . . . . . . . . . . . .10.06 Liquid-SIDD . . . . . . . . . . . .10.04 Liquid-SIG . . . . . . . . . . . . .11.05 Liquid-SupWDReI . . . . . . . .10.04 Nifty -G . . . . . . . . . . . . . . . .26.99 Nifty -I . . . . . . . . . . . . . . . .17.91 DBS Chola Contra -Cum . . . . . . . . . . . . .9.55 Contra -D . . . . . . . . . . . . . . .9.55 FI STF Inst-MD . . . . . . . . . .12.85 Gilt Invt-Cum . . . . . . . . . . .21.28 Gilt Invt-QD . . . . . . . . . . . . .10.90 Global Adv-Cum . . . . . . . . . .9.92 Global Adv-D . . . . . . . . . . . . .6.88
SCHEME
NAV (Rs.)
Growth -Cum . . . . . . . . . . .34.68 Growth -QD . . . . . . . . . . . .16.38 Hedged Eqty-Cum . . . . . . .12.63 Hedged Eqty-D . . . . . . . . . . .8.96 Liq.Cum Inst+ . . . . . . . . . . .18.37 Liq.Inst+ -WD . . . . . . . . . . .12.32 Liq.ReInvt-DD . . . . . . . . . . .10.12 Liq.Reg-Cum . . . . . . . . . . .18.17 Liq.Reg-WD . . . . . . . . . . . .11.99 Liquid-SI Cum . . . . . . . . . . .12.51 MidCap-Cum . . . . . . . . . . .35.10 MidCap-D . . . . . . . . . . . . . .20.26 MultiCap-Cum . . . . . . . . . .17.31 MultiCap-D . . . . . . . . . . . . .13.80 Opportun R-QD . . . . . . . . . .17.49 Opportun-Cum . . . . . . . . . .39.93 TaxSaver-Cum . . . . . . . . . .14.69 TaxSaver-D . . . . . . . . . . . . .13.64 DSP Blackrock Balanced -D . . . . . . . . . . . .23.95 Balanced -G . . . . . . . . . . . .58.30 Bond -RtG . . . . . . . . . . . . . .30.12 Bond -RtMD . . . . . . . . . . . .11.05 Cash Mgr-RDD . . . . . . . .1000.00 Cash Plus-G . . . . . . . . . .1158.77 Cash Plus-IDD . . . . . . . .1000.10 Cash Plus-IG . . . . . . . . . .1160.09 Cash Plus-IWD . . . . . . . .1000.54 Cash Plus-WD . . . . . . . .1000.54 Equity-D . . . . . . . . . . . . . . .51.48 Equity-G . . . . . . . . . . . . . . .14.27 Equity-IG . . . . . . . . . . . . . . .11.22 GSec A -D . . . . . . . . . . . . . .11.55 GSec A -G . . . . . . . . . . . . . .31.49 GSec A -MD . . . . . . . . . . . .10.57 GSec B -D . . . . . . . . . . . . . .11.19 GSec B -G . . . . . . . . . . . . . .19.30 GSec B -MD . . . . . . . . . . . .10.13 Liquidity-ID . . . . . . . . . . .1000.57 Liquidity-IDD . . . . . . . . .1000.20 Liquidity-IG . . . . . . . . . . .1301.72 MoneyMgr-DD . . . . . . . .1000.80 MoneyMgr-G . . . . . . . . .1254.29 MoneyMgr-IDD . . . . . . . .1000.80 MoneyMgr-IG . . . . . . . . .1269.22 MoneyMgr-IWD . . . . . . .1001.15 MoneyMgr-WD . . . . . . . .1001.13 N.R.N.E. -D . . . . . . . . . . .12.73 N.R.N.E. -G . . . . . . . . . . .12.73 Opportun-D . . . . . . . . . . . .28.81 Opportun-G . . . . . . . . . . . . .73.91 Opportun.-ID . . . . . . . . . . . . .8.99 Opportun.-IG . . . . . . . . . . . . .8.99 SBF -IDD . . . . . . . . . . . .1002.15 SBF-DD . . . . . . . . . . . . .1001.50 Short Term -MD . . . . . . . . .10.73 Short Term -WD . . . . . . . . .10.19 Small Midcap-D . . . . . . . . .14.17 Small Midcap-G . . . . . . . . .14.17 Strat.Bond-D . . . . . . . . .1039.84 Strat.Bond-G . . . . . . . . .1168.16 Strat.Bond-ID . . . . . . . . .1021.76 Strat.Bond-IG . . . . . . . . .1059.18 Strat.Bond-IMD . . . . . . .1018.96 Strat.Bond-MD . . . . . . . .1017.36 Strategic-IWD . . . . . . . . .1003.58 Strategic-WD . . . . . . . . .1003.52 TIGER -D . . . . . . . . . . . . . . .17.67 TIGER -G . . . . . . . . . . . . . . .43.33 TIGER -ID . . . . . . . . . . . . . . .8.80 TIGER -IG . . . . . . . . . . . . . .12.32 Tax Saver (D) . . . . . . . . . . .11.01 Tax Saver (G) . . . . . . . . . . .14.78 Tech.com-D . . . . . . . . . . . .21.52 Tech.com-G . . . . . . . . . . . .29.46 Top 100 -D . . . . . . . . . . . . .20.17 Top 100 -G . . . . . . . . . . . . .89.74 Top 100-ID . . . . . . . . . . . . .12.25 Top 100-IG . . . . . . . . . . . . .12.25 World Energy-D . . . . . . .10.32 World Energy-G . . . . . . .10.32 World Energy-IG . . . . . . .10.33 World Gold-D . . . . . . . . .13.46 World Gold-G . . . . . . . . .15.44 World Gold-IG . . . . . . . . . .9.65 Deutsche Alpha Equity-D . . . . . . . . . .17.84 Alpha Equity-G . . . . . . . . . .72.31 Tax Saving -D . . . . . . . . . . .11.96 Tax Saving -G . . . . . . . . . . .12.80
SCHEME
NAV (Rs.)
Edelweiss Abso RetuEqty-D . . . . . . . .10.10 Abso RetuEqty-G . . . . . . . .10.10 E.D.G.E. A-D . . . . . . . . . . . .12.84 E.D.G.E. A-G . . . . . . . . . . . .12.84 E.D.G.E. B-D . . . . . . . . . . . .12.86 E.D.G.E. B-G . . . . . . . . . . . .12.87 E.D.G.E. C-D . . . . . . . . . . . .12.88 E.D.G.E. C-G . . . . . . . . . . . .12.89 ELSS-D . . . . . . . . . . . . . . . .17.17 ELSS-G . . . . . . . . . . . . . . . .17.17 Gilt -D . . . . . . . . . . . . . . . . . .9.85 Gilt -G . . . . . . . . . . . . . . . . . .9.85 Liquid-RtDD . . . . . . . . . . . .10.00 Liquid-RtG . . . . . . . . . . . . .10.69 Liquid-RtMD . . . . . . . . . . . .10.01 Liquid-RtWD . . . . . . . . . . . .10.00 Nifty EnhancA-D . . . . . . . . .10.46 Nifty EnhancA-G . . . . . . . . .11.47 Nifty EnhancerD . . . . . . . . .11.39 Nifty EnhancerG . . . . . . . . .11.39 Fidelity Cash -R DD . . . . . . . . . . . . .10.00 Cash -R G . . . . . . . . . . . . . .12.22 Cash -R MD . . . . . . . . . . . .10.02 Cash -R WD . . . . . . . . . . . .10.01 Cash Inst -DD . . . . . . . . . . .10.00 Cash Inst -GD . . . . . . . . . . .12.37 Cash Inst -MD . . . . . . . . . .10.00 Cash Inst -WD . . . . . . . . . .10.03 Cash Super-IDD . . . . . . . . .10.08 Cash Super-IG . . . . . . . . . .12.41 Cash Super-IMD . . . . . . . . .10.00 Cash Super-IWD . . . . . . . . .10.00 Equity -D . . . . . . . . . . . . . .19.59 Equity -G . . . . . . . . . . . . . .29.40 Flexi Gilt-D . . . . . . . . . . . . .10.17 Flexi Gilt-G . . . . . . . . . . . . .11.66 India Gr-D . . . . . . . . . . . . . .10.21 India Gr-G . . . . . . . . . . . . . .10.21 Intnl Opp-D . . . . . . . . . . . . .11.61 Intnl Opp-G . . . . . . . . . . . . .11.61 SplSituation-D . . . . . . . . . .15.84 SplSituation-G . . . . . . . . . .15.84 TaxAdvantage-D . . . . . . . . .16.08 TaxAdvantage-G . . . . . . . . .17.91 Franklin Templeton Asian Equity-D . . . . . . . . . .10.27 Asian Equity-G . . . . . . . . . .10.27 Balanced-D . . . . . . . . . . .21.65 Balanced-G . . . . . . . . . . . . .43.58 Bluechip-D . . . . . . . . . . . . .40.13 Bluechip-G . . . . . . . . . . . .182.95 Cash Mgmt-D . . . . . . . . .10.00 Cash Mgmt-G . . . . . . . . .15.80 Equity-D . . . . . . . . . . . . . . .14.31 Equity-G . . . . . . . . . . . . . . .17.54 FMCG -D . . . . . . . . . . . . . . .31.59 FMCG -G . . . . . . . . . . . . . . .50.33 FlexiCap-D . . . . . . . . . . . . .16.05 FlexiCap-G . . . . . . . . . . . . .27.93 GSec Long -D . . . . . . . . . . .10.73 GSec Long -G . . . . . . . . . . .22.76 GSec Treas -D . . . . . . . . . . .10.34 GSec Treas-G . . . . . . . . . . .16.20 Growth-D . . . . . . . . . . . . . .51.78 Growth-G . . . . . . . . . . . . .103.66 HGC-D . . . . . . . . . . . . . . . .11.52 HGC-G . . . . . . . . . . . . . . . .11.52 Income -D . . . . . . . . . . . . .10.77 Income -G . . . . . . . . . . . . . .31.61 Index BSE-D . . . . . . . . . . . .48.05 Index BSE-G . . . . . . . . . . . .48.05 Index Nifty-D . . . . . . . . . . .40.11 Index Nifty-G . . . . . . . . . . .40.11 Index Tax . . . . . . . . . . . . . .39.17 Infotech -D . . . . . . . . . . . . .17.76 Infotech -G . . . . . . . . . . . . .52.18 MIP -B . . . . . . . . . . . . . . . .12.34 MIP -G . . . . . . . . . . . . . . . .26.10 MIP -MD . . . . . . . . . . . . . . .11.54 MIP -QD . . . . . . . . . . . . . . .11.77 MIP Debt-Mly . . . . . . . . . . .10.21 MIP Debt-Qly . . . . . . . . . . .10.64 MIP Eqty-G . . . . . . . . . . . . .25.14 MIP Eqty-HY . . . . . . . . . . . .12.14 MMA -DD . . . . . . . . . . . . . . .1.00 MMA -DlyB . . . . . . . . . . . . . .1.00 Opport-D . . . . . . . . . . . . . .13.93 Opport-G . . . . . . . . . . . . . .28.99
SCHEME
NAV (Rs.)
Pension -D . . . . . . . . . . . . .15.96 Pension -G . . . . . . . . . . . . .53.51 Pharma -D . . . . . . . . . . . . .24.87 Pharma -G . . . . . . . . . . . . .47.00 Prima -D . . . . . . . . . . . . . . .44.53 Prima -G . . . . . . . . . . . . . .238.73 Prima Plus-D . . . . . . . . . . .31.34 Prima Plus-G . . . . . . . . . .188.17 TMA -D . . . . . . . . . . . . . .1512.34 TMA -G . . . . . . . . . . . . . .2244.66 TMA -WD . . . . . . . . . . . .1244.43 TMA Liq-G . . . . . . . . . . .1371.24 TMA Liq-WD . . . . . . . . . .1000.66 TMA-I Dly . . . . . . . . . . . .1000.67 TMA-I Wly . . . . . . . . . . . .1054.82 TMA-IG . . . . . . . . . . . . . .1421.98 TMA-SupIDD . . . . . . . . .1000.67 TMA-SupIG . . . . . . . . . . .1351.62 TMA-SupIWD . . . . . . . . .1021.23 Taxshield-D . . . . . . . . . . . .31.55 Taxshield-G . . . . . . . . . . .174.62 HDFC Arbitrage-G . . . . . . . . . . . . .11.50 Arbitrage-MD . . . . . . . . . . .10.34 Arbitrage-QD . . . . . . . . . . .10.33 Arbitrage-WhG . . . . . . . . . .11.56 Arbitrage-WhMD . . . . . . . .10.10 Arbitrage-WhQD . . . . . . . . .10.35 Balanced -D . . . . . . . . . . . .19.36 Balanced -G . . . . . . . . . . . .43.79 CM Call -DD . . . . . . . . . . . .10.43 CM Call -G . . . . . . . . . . . . .15.12 CM Saving+ RDD . . . . . . . .10.03 CM Saving+ RMD . . . . . . . .10.07 CM Saving+ RtG . . . . . . . . .19.73 CM Saving+ RtWD . . . . . . .10.03 CM Saving+ WsDD . . . . . . .10.03 CM Saving+ WsG . . . . . . . .19.91 CM Saving+ WsMD . . . . . .10.07 CM Saving+ WsWD . . . . . .10.03 CM Saving-DD . . . . . . . . . .10.64 CM Saving-G . . . . . . . . . . .19.02 CM Saving-WsD . . . . . . . . .10.63 Cap Builder-D . . . . . . . . . . .24.24 Cap Builder-G . . . . . . . . . . .90.75 Child Gift Invt . . . . . . . . . . .32.29 Child Gift Sav. . . . . . . . . . . .19.69 Core&Satell.-D . . . . . . . . . .22.92 Core&Satell.-G . . . . . . . . . .33.31 Equity -D . . . . . . . . . . . . . .45.55 Equity -G . . . . . . . . . . . . .226.88 FRIF ST -DD . . . . . . . . . . . .10.08 FRIF ST -G . . . . . . . . . . . . .15.38 FRIF ST -MD . . . . . . . . . . . .10.16 FRIF ST -WD . . . . . . . . . . . .10.14 FRIF ST -WhDD . . . . . . . . . .10.08 FRIF ST -WhG . . . . . . . . . . .15.47 FRIF ST -WhMD . . . . . . . . .10.16 FRIF ST -WhWD . . . . . . . . .10.14 Gilt LTP -D . . . . . . . . . . . . .10.41 Gilt LTP -G . . . . . . . . . . . . .18.44 Gilt STP -D . . . . . . . . . . . . .10.59 Gilt STP -G . . . . . . . . . . . . .15.55 Growth -D . . . . . . . . . . . . . .31.06 Growth -G . . . . . . . . . . . . . .72.10 LT Advantage-D . . . . . . . . .36.96 LT Advantage-G . . . . . . . .113.31 Liq.Prem -DD . . . . . . . . . . .12.26 Liq.Prem -G . . . . . . . . . . . .18.24 Liq.Prem+ -G . . . . . . . . . . .18.28 Liquid -DD . . . . . . . . . . . . .10.20 Liquid -G . . . . . . . . . . . . . . .18.04 Liquid -MD . . . . . . . . . . . . .10.28 Liquid -WD . . . . . . . . . . . . .10.32 Nifty . . . . . . . . . . . . . . . . . .44.72 Pre.MultiCap-D . . . . . . . . . .16.87 Pre.MultiCap-G . . . . . . . . . .24.44 Prudence -D . . . . . . . . . . . .29.68 Prudence -G . . . . . . . . . . .171.60 Sensex . . . . . . . . . . . . . . .142.77 SensexPlus . . . . . . . . . . . .201.57 TaxSaver -D . . . . . . . . . . . .60.18 TaxSaver -G . . . . . . . . . . .193.48 Top 200 -D . . . . . . . . . . . . .45.99 Top 200 -G . . . . . . . . . . . .177.82 HSBC Advant.India-D . . . . . . . . . .11.02 Advant.India-G . . . . . . . . . .12.95 Dynamic -D . . . . . . . . . . . . .9.48 Dynamic -G . . . . . . . . . . . . .9.48
SCHEME
Dewan Housing Fin offers 25-yr home loans at 8% Dewan Housing Finance Corporation has announced a 25-year home-loan scheme at a fixed rate of 8% for the first two years for loans up to Rs 5 lakh. Similarly, the company has fixed an annual interest rate of 8.75% annually for two years for loans above Rs 20 lakh. The rates would become variable after two years.
CROSS CURRENCY RATES
MUTUAL FUNDS NET ASSET VALUES (AS ON 14 DECEMBER 2009) SCHEME
ICICI Lombard has introduced a facility to buy and renew its product Health Advantage Plus through its website. Apart from covering hospitalisation expenses, it also covers outpatient treatment (OPD) expenses caused by, including but not limited to, accidents arising out of terrorist activities.
NAV (Rs.)
Emerge.Mkt-D . . . . . . . . .9.45 Emerge.Mkt-G . . . . . . . . .9.45 Equity -D . . . . . . . . . . . . . .26.86 Equity -G . . . . . . . . . . . . . .93.90 Midcap Eqty-D . . . . . . . . . .12.85 Midcap Eqty-G . . . . . . . . . .20.95 Opportunities-D . . . . . . . . .15.87 Opportunities-G . . . . . . . . .31.84 TaxSaver Eqty-D . . . . . . . . .13.22 TaxSaver Eqty-G . . . . . . . . .13.22 ICICI Prudential Balanced -D . . . . . . . . . . . .15.15 Balanced -G . . . . . . . . . . . .39.39 Bank & Fin-RtD . . . . . . . . . .14.62 Bank & Fin-RtG . . . . . . . . . .14.62 Blended A-D . . . . . . . . . . . .10.43 Blended A-G . . . . . . . . . . . .13.84 Blended B-D . . . . . . . . . . . .12.22 Blended B-G . . . . . . . . . . . .13.61 Blended B-ID . . . . . . . . . . .10.01 Blended B-IG . . . . . . . . . . .10.42 ChildCare Gift . . . . . . . . . . .47.85 ChildCare Study . . . . . . . . .25.67 Discovery -D . . . . . . . . . . . .19.43 Discovery -G . . . . . . . . . . . .39.37 Discovery FII-G . . . . . . . . . .17.34 Dynamic -D . . . . . . . . . . . .17.97 Dynamic -G . . . . . . . . . . . .89.04 Dynamic -InstI . . . . . . . . . .13.82 EmergStar FII . . . . . . . . . . .11.66 EmergStar-D . . . . . . . . . . . .15.79 EmergStar-G . . . . . . . . . . . .28.89 FMCG -D . . . . . . . . . . . . . . .30.78 FMCG -G . . . . . . . . . . . . . . .51.66 FRF Pl.A-DD . . . . . . . . . . .100.04 FRF Pl.A-FnD . . . . . . . . . .100.72 FRF Pl.A-G . . . . . . . . . . . .140.18 FRF Pl.B-DD . . . . . . . . . . .100.04 FRF Pl.B-FnD . . . . . . . . . .101.10 FRF Pl.B-G . . . . . . . . . . . .151.30 FRF Pl.C-DD . . . . . . . . . . .100.04 FRF Pl.C-FnD . . . . . . . . . .100.72 FRF Pl.C-G . . . . . . . . . . . .142.62 FRF Pl.D-DD . . . . . . . . . . .100.02 FRF Pl.D-FnD . . . . . . . . . .100.26 FRF Pl.D-G . . . . . . . . . . . .134.55 FRP D-WD . . . . . . . . . . . .100.13 Float B-WD . . . . . . . . . . . .100.11 Float C-WD . . . . . . . . . . . .100.11 Floating A-WD . . . . . . . . .100.11 Focused Eq.-IG . . . . . . . . . .13.70 Focused Eq.-RtD . . . . . . . . .13.48 Focused Eq.-RtG . . . . . . . . .13.48 Gilt Invest-D . . . . . . . . . . . .12.29 Gilt Invest-G . . . . . . . . . . . .31.39 Gilt Invt PF-G . . . . . . . . . . .18.14 Gilt Treas-D . . . . . . . . . . . . .11.75 Gilt Treas-G . . . . . . . . . . . . .24.04 Gilt Treas-HD . . . . . . . . . . .11.00 Gilt TreasPF-G . . . . . . . . . . .15.13 Growth -D . . . . . . . . . . . . . .19.62 Growth -G . . . . . . . . . . . . .119.82 Growth FII-G . . . . . . . . . . . .16.65 Inc Optimis-ID . . . . . . . . . .10.49 Inc Optimis-IG . . . . . . . . . . .12.60 Inc Optimis-RtD . . . . . . . . .10.38 Inc Optimis-RtG . . . . . . . . .12.49 Inc.Multipl.-D . . . . . . . . . . .11.98 Inc.Multipl.-G . . . . . . . . . . .17.91 Index . . . . . . . . . . . . . . . . .47.15 IndoAsia Eq-ID . . . . . . . . . . .9.51 IndoAsia Eq-RtD . . . . . . . . . .9.51 IndoAsia Eq-RtG . . . . . . . . . .9.51 Infrastruc-D . . . . . . . . . . . .11.82 Infrastruc-G . . . . . . . . . . . .28.17 Infrastruc-IG . . . . . . . . . . . .15.14 LTP Prem-MD . . . . . . . . . . .10.03 Liq Instl+ DD . . . . . . . . . .118.52 Liq Instl+ G . . . . . . . . . . . .225.66 Liq Instl+ WD . . . . . . . . . .118.63 Liquid -DD . . . . . . . . . . . .118.51 Liquid -G . . . . . . . . . . . . .220.54 Liquid -HD . . . . . . . . . . . .100.75 Liquid -IDD . . . . . . . . . . . .118.50 Liquid -IG . . . . . . . . . . . . .224.33 Liquid -IWD . . . . . . . . . . .118.50 Liquid -MD . . . . . . . . . . . .100.15 Liquid -QD . . . . . . . . . . . .100.75 Liquid -WD . . . . . . . . . . . .118.88 Liquid FII-G . . . . . . . . . . . .131.42
SCHEME
NAV (Rs.)
Liquid Sup-IDD . . . . . . . . .100.02 Liquid Sup-IG . . . . . . . . . .134.44 Liquid Sup-IWD . . . . . . . .100.12 MIP -HD . . . . . . . . . . . . . . .12.33 MIP -MD . . . . . . . . . . . . . . .11.44 MIP -QD . . . . . . . . . . . . . . .12.23 MIP Cum . . . . . . . . . . . . . . .23.80 Power -D . . . . . . . . . . . . . .16.39 Power -G . . . . . . . . . . . . . .98.34 Power Inst-I . . . . . . . . . . . .27.07 SPICE . . . . . . . . . . . . . . . .176.99 STP -D . . . . . . . . . . . . . . . .11.77 STP -FND . . . . . . . . . . . . . .11.81 STP -G . . . . . . . . . . . . . . . .18.82 STP -ID . . . . . . . . . . . . . . . .12.07 STP -IFnD . . . . . . . . . . . . . .12.06 STP -IG . . . . . . . . . . . . . . . .19.10 Serv Inds-D . . . . . . . . . . . .11.66 Serv Inds-G . . . . . . . . . . . .15.50 Sweep . . . . . . . . . . . . . . .149.08 Sweep Cash-DD . . . . . . . .100.01 Sweep Cash-FnD . . . . . . .100.35 Sweep Cash-G . . . . . . . . .127.66 Sweep Cash-MD . . . . . . .100.37 Sweep Cash-WD . . . . . . .100.11 Target Ret-RtD . . . . . . . . . .12.24 Target Ret-RtG . . . . . . . . . .12.24 Tax -D . . . . . . . . . . . . . . . . .17.66 Tax -G . . . . . . . . . . . . . . . .118.44 Technology-G . . . . . . . . . . .13.46 Ultra ST Prem-G . . . . . . . . .10.14 Ultra ST PremDD . . . . . . . .10.02 Ultra ST SPMD . . . . . . . . . .10.02 Ultra ST-FnD . . . . . . . . . . . .10.02 Ultra ST-MD . . . . . . . . . . . .10.03 Ultra ST-QD . . . . . . . . . . . .10.10 Ultra Short-DD . . . . . . . . . .10.02 Ultra Short-G . . . . . . . . . . .10.18 Ultra Short-WD . . . . . . . . . .10.03 UltraST -SPDD . . . . . . . . . .10.02 UltraST -SPG . . . . . . . . . . .10.19 UltraST P+DD . . . . . . . . . . .10.02 UltraST Prem+G . . . . . . . . .10.16 UltraST Prem-MD . . . . . . . .10.03 UltraST Prem-QD . . . . . . . .10.04 UltraST PremWD . . . . . . . . .10.03 UltraST-SPWD . . . . . . . . . .10.03 UltraSTPrem-FnD . . . . . . . .10.02 Wealth Opti-RtD . . . . . . . . .11.46 Wealth Opti-RtG . . . . . . . . .12.09 ING Investment Balanced -D . . . . . . . . . . . .16.25 Balanced -G . . . . . . . . . . . .23.23 Contra-B . . . . . . . . . . . . . . .15.09 Contra-D . . . . . . . . . . . . . . .12.87 Contra-G . . . . . . . . . . . . . . .15.09 Core Eqty-D . . . . . . . . . . . .17.87 Core Eqty-G . . . . . . . . . . . .33.78 Div Yield -D . . . . . . . . . . . . .17.12 Div Yield -G . . . . . . . . . . . . .18.83 Domestic Opp-D . . . . . . . . .12.62 Domestic Opp-G . . . . . . . . .33.43 Gilt PD GAIP . . . . . . . . . . . .14.95 Gilt PDPC 2009 . . . . . . . . . .10.47 Gilt PF Dyn-AD . . . . . . . . . .11.16 Gilt PF Dyn-G . . . . . . . . . . .14.95 Gilt PF Dyn-HD . . . . . . . . . .10.65 Global Real-ID . . . . . . . . . .8.14 Global Real-IG . . . . . . . . . .7.96 Global Real-RtD . . . . . . . .9.12 Global Real-RtG . . . . . . . .9.12 LatAmerica Eq-D . . . . . . . .10.58 LatAmerica Eq-G . . . . . . . .10.59 Liq.Super-IDD . . . . . . . . . . .10.01 Liq.Super-IG . . . . . . . . . . . .13.57 Liq.Super-IWD . . . . . . . . . .10.00 Liquid -D . . . . . . . . . . . . . .10.83 Liquid -DD . . . . . . . . . . . . .10.79 Liquid -G . . . . . . . . . . . . . . .19.07 Liquid -IDD . . . . . . . . . . . . .10.01 Liquid -IG . . . . . . . . . . . . . .14.28 Liquid -IWD . . . . . . . . . . . .10.06 MIP B -AD . . . . . . . . . . . . . .11.31 MIP B -G . . . . . . . . . . . . . . .14.11 MIP B -HD ReI . . . . . . . . . . .10.72 MIP B -MD ReI . . . . . . . . . .10.42 MIP B -QD ReI . . . . . . . . . . .11.22 Midcap -D . . . . . . . . . . . . .14.82 Midcap -G . . . . . . . . . . . . .18.65 Nifty Plus -D . . . . . . . . . . . .16.92
SCHEME
NAV (Rs.)
Nifty Plus -G . . . . . . . . . . . .25.38 Tax Savings -B . . . . . . . . . .25.10 Tax Savings -D . . . . . . . . . .12.36 Tax Savings -G . . . . . . . . . .25.06 ING Optimix 5Star MMgr-D . . . . . . . . .11.46 5Star MMgr-G . . . . . . . . .13.25 AAF MMgr-D . . . . . . . . . .14.07 AAF MMgr-G . . . . . . . . . .15.27 ActDebt MMgr-D . . . . . . .10.06 ActDebt MMgr-G . . . . . . .12.61 Global Commod-D . . . . .11.68 Global Commod-G . . . . .11.68 IGMM 15% EQ-D . . . . . .11.34 IGMM 15% EQ-G . . . . . .11.73 IGMM 30% EQ-D . . . . . .11.83 IGMM 30% EQ-G . . . . . .12.24 MMgr Eqty-D . . . . . . . . . . .10.15 MMgr Eqty-G . . . . . . . . . . .10.15 MMgr Op.B-G . . . . . . . . . . .10.36 JM Arbitrage Adv-D . . . . . . . . .10.17 Arbitrage Adv-G . . . . . . . . .12.83 Balanced -D . . . . . . . . . . . .16.11 Balanced -G . . . . . . . . . . . .21.20 Basic -D . . . . . . . . . . . . . . .13.75 Basic -G . . . . . . . . . . . . . . .18.25 Contra-D . . . . . . . . . . . . . . . .5.54 Contra-G . . . . . . . . . . . . . . . .5.54 Emerg.Leader-D . . . . . . . . . .8.10 Emerg.Leader-G . . . . . . . . . .8.08 Equity -D . . . . . . . . . . . . . .15.84 Equity -G . . . . . . . . . . . . . .35.22 Fin Services -D . . . . . . . . . . .8.91 Fin Services -G . . . . . . . . . . .8.91 Floater STP-D . . . . . . . . . . .10.09 Floater STP-G . . . . . . . . . . .14.65 GSec -RD . . . . . . . . . . . . . .14.24 GSec -RG . . . . . . . . . . . . . .29.79 GSec -RGB . . . . . . . . . . . . .14.49 HI FI -D . . . . . . . . . . . . . . . . .5.43 HI FI -G . . . . . . . . . . . . . . . . .5.43 HLF -D . . . . . . . . . . . . . . . .10.69 HLF -DD . . . . . . . . . . . . . . .10.43 HLF -ID . . . . . . . . . . . . . . . .10.45 HLF -IDD . . . . . . . . . . . . . . .10.02 HLF -IG . . . . . . . . . . . . . . . .14.97 HLF -IQD . . . . . . . . . . . . . . .14.04 HLF Growth-B . . . . . . . . . . .13.03 HLF Prem-DD . . . . . . . . . . .10.00 HLF Super-IDD . . . . . . . . . .10.02 HLF Super-IG . . . . . . . . . . .14.24 HLF Super-IWD . . . . . . . . . .10.00 High Liquid-G . . . . . . . . . . .24.81 Large Cap -D . . . . . . . . . . .13.84 Large Cap -G . . . . . . . . . . .17.45 MIP -AD . . . . . . . . . . . . . . .11.61 MIP -G . . . . . . . . . . . . . . . .14.45 MIP -MD . . . . . . . . . . . . . . .10.21 MIP -QD . . . . . . . . . . . . . . .10.89 Mid Cap -D . . . . . . . . . . . . .19.25 Mid Cap -G . . . . . . . . . . . . .25.16 Multi Strat-D . . . . . . . . . . . .14.76 Multi Strat-G . . . . . . . . . . . .14.76 Small&Midcap-D . . . . . . . . .5.81 Small&Midcap-G . . . . . . . . .5.81 Tax Gain-D . . . . . . . . . . . . . .7.13 Tax Gain-G . . . . . . . . . . . . . .7.13 Telecom -D . . . . . . . . . . . . . .7.81 Telecom -G . . . . . . . . . . . . . .7.81 JP Morgan Alpha-D . . . . . . . . . . . . . . .10.27 Alpha-G . . . . . . . . . . . . . . .10.86 Equity-D . . . . . . . . . . . . . . .10.51 Equity-G . . . . . . . . . . . . . . .11.32 India Tax Adv D . . . . . . . . . .15.61 India Tax Adv G . . . . . . . . . .15.61 JF China EO-G . . . . . . . . . .10.78 Liquid-DD ReI . . . . . . . . . . .10.01 Liquid-G . . . . . . . . . . . . . . .11.76 Liquid-RtDD ReI . . . . . . . . .10.02 Liquid-RtG . . . . . . . . . . . . .10.83 Liquid-RtMD ReI . . . . . . . . .10.04 Liquid-RtWD ReI . . . . . . . . .10.02 Liquid-SupIMD . . . . . . . . . .10.05 Liquid-SupIWD . . . . . . . . . .10.01 Smaller Cos-D . . . . . . . . . . .6.40 Smaller Cos-G . . . . . . . . . . .6.40 Kotak Mahindra 30 -D . . . . . . . . . . . . . . . . .32.35
SCHEME
NAV (Rs.)
30 -G . . . . . . . . . . . . . . . . .92.96 Contra -D . . . . . . . . . . . . . .17.00 Contra -G . . . . . . . . . . . . . .19.42 Eqty Arbit-D . . . . . . . . . . . .10.62 Eqty Arbit-G . . . . . . . . . . . .13.52 Equity FOF-D . . . . . . . . .33.85 Equity FOF-G . . . . . . . . .33.85 Gold ETF . . . . . . . . . . . . .1673.42 Life Style -D . . . . . . . . . . . . .9.68 Life Style -G . . . . . . . . . . . .11.17 MidCap -D . . . . . . . . . . . . .16.10 MidCap -G . . . . . . . . . . . . .20.98 Opportun.-D . . . . . . . . . . . .14.34 Opportun.-G . . . . . . . . . . . .41.29 PSU Bank ETF . . . . . . . . . .344.78 Select Focus-D . . . . . . . . . .10.50 Select Focus-G . . . . . . . . . .10.50 Sensex ETF . . . . . . . . . . . .172.45 Tax Saver -D . . . . . . . . . . . . .9.96 Tax Saver -G . . . . . . . . . . . .16.27 Mirae Asset AGC Stocks-D . . . . . . . . . . .12.04 AGC Stocks-G . . . . . . . . . . .12.04 Cash Mgmt-DD . . . . . . . .1020.25 Cash Mgmt-G . . . . . . . . .1022.36 Cash Mgmt-MD . . . . . . .1022.44 Cash Mgmt-WD . . . . . . .1021.26 China Adv-D . . . . . . . . . . . .10.06 China Adv-G . . . . . . . . . . . .10.06 Liquid-RgDD . . . . . . . . . . .939.09 Liquid-RgG . . . . . . . . . . . .986.38 Liquid-RgMD . . . . . . . . . .942.56 Liquid-RgWD . . . . . . . . . .940.42 Opportun-D . . . . . . . . . . . .12.75 Opportun-G . . . . . . . . . . . . .13.77 Morgan Stanley A.C.E.-D . . . . . . . . . . . . . . .12.81 A.C.E.-G . . . . . . . . . . . . . . .12.81 Active Bond-G . . . . . . . . . .10.01 Active Bond-IG . . . . . . . . . .10.04 Active Bond-QD . . . . . . . . .10.01 Growth . . . . . . . . . . . . . . . .56.20 Growth-D . . . . . . . . . . . . . .18.31 ST Bond-D . . . . . . . . . . . . .10.06 ST Bond-G . . . . . . . . . . . . .10.30 ST Bond-IG . . . . . . . . . . . . .10.32 ST Bond-IWD . . . . . . . . . . .10.06 Principal Balanced -D . . . . . . . . . . . .14.76 Balanced -G . . . . . . . . . . . .29.22 CMF Liq -IDD . . . . . . . . . . .10.00 CMF Liq -IG . . . . . . . . . . . .14.88 CMF Liq -IMD . . . . . . . . . . .10.02 CMF Liq -IWD . . . . . . . . . . .10.01 CMF Liq IP -DD . . . . . . . . . .10.00 CMF Liq IP -G . . . . . . . . . . .14.17 Cash Mgt Liq -G . . . . . . . . .17.60 Cash Mgt Liq-DD . . . . . . . .10.00 Cash Mgt Liq-MD . . . . . . . .10.02 Cash Mgt Liq-WD . . . . . . . .10.12 Child -CB . . . . . . . . . . . . . .81.05 Div Yield -D . . . . . . . . . . . . .14.73 Div Yield -G . . . . . . . . . . . . .19.96 Emer Bluechip-D . . . . . . . .21.49 Emer Bluechip-G . . . . . . . .27.15 FRF FMP -IDD . . . . . . . . . . .10.02 FRF FMP -RDD . . . . . . . . . .10.02 FRF SMP -DD . . . . . . . . . . .10.00 FRF SMP -G . . . . . . . . . . . .14.16 FRF SMP -IDD . . . . . . . . . . .10.00 FRF SMP -IG . . . . . . . . . . . .14.24 FRF SMP -IWD . . . . . . . . . .10.00 FRF SMP -MD . . . . . . . . . . .10.66 FRF SMP -WD . . . . . . . . . . .10.00 GSec Invest-AD . . . . . . . . .13.68 GSec Invest-G . . . . . . . . . . .19.55 GSec Invest-HD . . . . . . . . .11.38 GSec Invest-QD . . . . . . . . .11.47 Global Opp -D* . . . . . . . . . .16.02 Global Opp -G* . . . . . . . . . .16.02 Growth -D . . . . . . . . . . . . . .22.35 Growth -G . . . . . . . . . . . . . .49.34 Index -D . . . . . . . . . . . . . . .20.52 Index -G . . . . . . . . . . . . . . .34.95 Infra&Service-D . . . . . . . . .13.57 Infra&Service-G . . . . . . . . .13.57 LT Eqty 3Y 2-D . . . . . . . . . .10.18 LT Eqty 3Y 2-G . . . . . . . . . .10.18 LT Eqty 3Y-I-D . . . . . . . . . . .10.28 LT Eqty 3Y-I-G . . . . . . . . . . .10.28
SCHEME
NAV (Rs.)
Large Cap -D . . . . . . . . . . .18.45 Large Cap -G . . . . . . . . . . .24.92 Liq.Plus-DD . . . . . . . . . . . .10.02 Liq.Plus-G . . . . . . . . . . . . . .11.68 Liq.Plus-MD . . . . . . . . . . . .10.54 Liq.Plus-WD . . . . . . . . . . . .10.02 MIP -G . . . . . . . . . . . . . . . .20.33 MIP -MD . . . . . . . . . . . . . . .11.14 MIP -QD . . . . . . . . . . . . . . .12.01 MIP Plus -G . . . . . . . . . . . . .17.81 MIP Plus -MD . . . . . . . . . . .11.74 MIP Plus -QD . . . . . . . . . . .12.60 MoneyMgr-DD . . . . . . . . . .10.03 MoneyMgr-G . . . . . . . . . . .11.03 MoneyMgr-WD . . . . . . . . . .10.11 Personal TaxSav . . . . . . . . .88.51 Resurgent -D . . . . . . . . . . .11.90 Resurgent -G . . . . . . . . . . .83.78 Tax Savings . . . . . . . . . . . .71.29 Quantum Equity FoF-D . . . . . . . . . .12.31 Equity FoF-G . . . . . . . . . .12.31 Gold ETF . . . . . . . . . . . . . .832.94 Index ETF . . . . . . . . . . . . .512.90 LT Equity -D . . . . . . . . . . . .18.27 LT Equity -G . . . . . . . . . . . .18.12 Liquid -DD . . . . . . . . . . . . .10.00 Liquid -G . . . . . . . . . . . . . . .12.95 Liquid -MD . . . . . . . . . . . . .10.02 Tax Saving-D . . . . . . . . . . .18.20 Tax Saving-G . . . . . . . . . . .18.21 Reliance Banking -B . . . . . . . . . . . . .75.22 Banking -D . . . . . . . . . . . . .30.02 Banking -G . . . . . . . . . . . . .75.22 Banking-IB . . . . . . . . . . . . .75.22 Banking-ID . . . . . . . . . . . . .72.89 Banking-IG . . . . . . . . . . . . .75.22 Eqty Adv ID . . . . . . . . . . . . .11.63 Eqty Adv IG-G . . . . . . . . . . .11.63 Eqty Adv RtD . . . . . . . . . . . .11.46 Eqty Adv RtG-B . . . . . . . . . .11.46 Eqty Adv RtG-G . . . . . . . . . .11.46 Eqty Opp ID . . . . . . . . . . . . .28.33 Eqty Opp IG-B . . . . . . . . . . .28.33 Eqty Opp IG-G . . . . . . . . . . .28.33 Eqty Oppor.-B . . . . . . . . . . .28.33 Eqty Oppor.-D . . . . . . . . . . .20.01 Eqty Oppor.-G . . . . . . . . . . .28.33 EqtyAdv IG-B . . . . . . . . . . .11.63 Equity -B . . . . . . . . . . . . . . .15.02 Equity -D . . . . . . . . . . . . . .15.02 Equity -G . . . . . . . . . . . . . .15.02 Equity ID . . . . . . . . . . . . . . .15.02 Equity IG-B . . . . . . . . . . . . .15.02 Equity IG-G . . . . . . . . . . . . .15.02 Floating -D . . . . . . . . . . . . .10.14 Floating -DD . . . . . . . . . . . .10.07 Floating -G . . . . . . . . . . . . .14.31 Floating -WD . . . . . . . . . . .10.08 Gold ET-DPo . . . . . . . . . .1627.83 Growth -B . . . . . . . . . . . . . .68.44 Growth -D . . . . . . . . . . . . . .52.92 Growth -G . . . . . . . . . . . . .412.59 Growth ID . . . . . . . . . . . . .403.80 Growth IG-B . . . . . . . . . . .414.94 Growth IG-G . . . . . . . . . . .414.94 Infrastruc-IB . . . . . . . . . . . .11.14 Infrastruc-ID . . . . . . . . . . . .11.14 Infrastruc-IG . . . . . . . . . . . .11.14 Infrastruc-RtB . . . . . . . . . . .11.13 Infrastruc-RtD . . . . . . . . . . .11.13 Infrastruc-RtG . . . . . . . . . . .11.13 Liq.Cash -D . . . . . . . . . . . .10.92 Liq.Cash -DD . . . . . . . . . . .11.14 Liq.Cash -G . . . . . . . . . . . .14.89 Liq.Treas -IDD . . . . . . . . . . .15.29 Liq.Treas -IG . . . . . . . . . . . .22.19 Liq.Treas -IMD . . . . . . . . . .21.79 Liq.Treas -IWD . . . . . . . . . .15.31 Liq.Treas -RDD . . . . . . . . . .15.24 Liq.Treas -RG . . . . . . . . . . .21.84 Liq.Treas -RMD . . . . . . . . . .13.34 Liq.Treas -RQD . . . . . . . . . .12.26 Liq.Treas -RWD . . . . . . . . .10.35 Liquidity-DDReI . . . . . . . . .10.00 Liquidity-G-G . . . . . . . . . . .13.70 Liquidity-MD . . . . . . . . . . . .13.70 Liquidity-WDReI . . . . . . . . .10.01 MIP -G . . . . . . . . . . . . . . . .19.86
SCHEME
NAV (Rs.)
MIP Mly . . . . . . . . . . . . . . .11.27 MIP Qly . . . . . . . . . . . . . . . .11.91 Media&Entert-B . . . . . . . . .25.84 Media&Entert-D . . . . . . . . .18.58 Media&Entert-G . . . . . . . . .25.84 NRI Equity -B . . . . . . . . . . .34.21 NRI Equity -D . . . . . . . . . . .20.35 NRI Equity -G . . . . . . . . . . .34.21 Nat Res-D . . . . . . . . . . . . . .10.17 Nat Res-GB . . . . . . . . . . . . .10.17 Nat Res-GG . . . . . . . . . . . . .10.17 Nat.Resource-IB . . . . . . . . .10.17 Nat.Resource-ID . . . . . . . . .10.17 Nat.Resource-IG . . . . . . . . .10.17 Pharma -B . . . . . . . . . . . . .42.22 Pharma -D . . . . . . . . . . . . .31.49 Pharma -G . . . . . . . . . . . . .42.22 Power Sec-IB . . . . . . . . . . .74.65 Power Sec-ID . . . . . . . . . . .74.65 Power Sec-IG . . . . . . . . . . .74.65 Power-D . . . . . . . . . . . . . . .47.44 Power-GB . . . . . . . . . . . . . .76.29 Power-GG . . . . . . . . . . . . . .76.29 Quant Plus-IB . . . . . . . . . . .11.69 Quant Plus-ID . . . . . . . . . . .11.69 Quant Plus-IG . . . . . . . . . . .11.69 Quant Plus-RtB . . . . . . . . . .11.58 Quant Plus-RtD . . . . . . . . . .11.58 Quant Plus-RtG . . . . . . . . . .11.58 RegSav.Eqty-G . . . . . . . . . .27.23 SaveEquity-D . . . . . . . . . . .21.23 Savings Bal-D . . . . . . . . . . .15.62 Savings Bal-G . . . . . . . . . . .18.99 TaxSaver ELSS-D . . . . . . . .13.68 TaxSaver ELSS-G . . . . . . . .17.55 Vision -B . . . . . . . . . . . . . . .41.25 Vision -D . . . . . . . . . . . . . . .42.50 Vision -G . . . . . . . . . . . . . .245.60 Vision ID . . . . . . . . . . . . . .227.36 Vision IG-B . . . . . . . . . . . .244.90 Vision IG-G . . . . . . . . . . . .244.90 Religare AGILE -D . . . . . . . . . . . . . . . .6.26 AGILE -G . . . . . . . . . . . . . . . .6.25 AGILE Tax-D . . . . . . . . . . . . .7.16 AGILE Tax-G . . . . . . . . . . . . .7.16 Banking-RtD . . . . . . . . . . . .14.65 Banking-RtG . . . . . . . . . . . .15.57 BusinessLead-D . . . . . . . . .11.16 BusinessLead-G . . . . . . . . .11.16 Contra -D . . . . . . . . . . . . . .13.10 Contra -G . . . . . . . . . . . . . .14.43 Equity -D . . . . . . . . . . . . . .11.38 Equity -G . . . . . . . . . . . . . .11.38 GILT SD-RtWD . . . . . . . . . .10.03 Gilt SD-RtG . . . . . . . . . . . . .10.48 Gilt SD-RtMD . . . . . . . . . . .10.03 Growth-D . . . . . . . . . . . . . .11.20 Growth-G . . . . . . . . . . . . . .11.20 Overnight-DD . . . . . . . . . . .10.00 Overnight-G . . . . . . . . . . . .11.09 PSU Equity-D . . . . . . . . . . .10.14 PSU Equity-G . . . . . . . . . . .10.14 Tax Plan -D . . . . . . . . . . . . .12.17 Tax Plan -G . . . . . . . . . . . . .14.70 SBI Arbitrage Opp-D . . . . . . . . .10.98 Arbitrage Opp-G . . . . . . . . .12.52 Blue Chip -D . . . . . . . . . . . .12.04 Blue Chip -G . . . . . . . . . . . .13.81 Gold ETS . . . . . . . . . . . . .1706.48 M NRI Inv FAP-D . . . . . . . . .27.40 M NRI Inv FAP-G . . . . . . . . .27.29 MGF LT PF 1Y-D . . . . . . . . . .9.85 MGF LT PF 1Y-G . . . . . . . . .11.77 MGF LT PF 2Y-D . . . . . . . . . .9.96 MGF LT PF 2Y-G . . . . . . . . .11.65 MGF LT PF 3Y-D . . . . . . . . . .9.82 MGF LT PF 3Y-G . . . . . . . . .11.48 MGF LT PF-RD . . . . . . . . . . .9.97 MGF LT PF-RG . . . . . . . . . .11.98 MGF LT Reg-D . . . . . . . . . . .9.91 MGF LT Reg-G . . . . . . . . . .18.70 MGF ST -D . . . . . . . . . . . . .10.77 MGF ST -G . . . . . . . . . . . . .18.21 MICF -D . . . . . . . . . . . . . . .10.78 MICF -DD . . . . . . . . . . . . . .16.75 MICF Cash . . . . . . . . . . . . .20.22 MICF LiqFloat-D . . . . . . . . .10.31 MICF LiqFloat-G . . . . . . . . .15.67
SCHEME
NAV (Rs.)
SCHEME
NAV (Rs.)
SCHEME
MMIP -G . . . . . . . . . . . . . . .18.81 MMIP Mly . . . . . . . . . . . . . .10.63 MMIP Qly . . . . . . . . . . . . . .10.43 MMIP Yly . . . . . . . . . . . . . . .11.38 MMP 1993-D . . . . . . . . . . .52.09 MMP 1993-G . . . . . . . . . . .73.36 MSFU Contra -D . . . . . . . . .24.98 MSFU Contra -G . . . . . . . . .54.44 MSFU EBF -D . . . . . . . . . . .13.86 MSFU EBF -G . . . . . . . . . . .31.25 MSFU FMCG . . . . . . . . . . . .20.59 MSFU IT . . . . . . . . . . . . . . .19.46 MSFU Pharma -D . . . . . . . .28.88 MSFU Pharma -G . . . . . . . .35.01 Mag Bal -D . . . . . . . . . . . . .25.06 Mag Bal -G . . . . . . . . . . . . .46.70 Mag Comma-D . . . . . . . . . .18.62 Mag Comma-G . . . . . . . . . .23.21 Mag Equity-D . . . . . . . . . . .33.53 Mag Equity-G . . . . . . . . . . .37.96 Mag Global-D . . . . . . . . . . .31.07 Mag Global-G . . . . . . . . . . .47.04 Mag Index -D . . . . . . . . . . .22.30 Mag Index -G . . . . . . . . . . .43.51 Mag Midcap-D . . . . . . . . . .16.32 Mag Midcap-G . . . . . . . . . .21.27 Mag MultiCap-D . . . . . . . . .13.13 Mag MultiCap-G . . . . . . . . .17.28 Mag TaxGain93-D . . . . . . . .42.69 Mag TaxGain93-G . . . . . . . .56.78 PLF Super-ID . . . . . . . . . . .10.03 PLF Super-IG . . . . . . . . . . .14.30 Prem Liq-IFnD . . . . . . . . . .10.15 Prem Liq-IWD . . . . . . . . . . .10.61 Prem Liquid-ID . . . . . . . . . .10.03 Prem Liquid-IG . . . . . . . . . .14.46 Sahara Bank & Fin-D . . . . . . . . . . .18.64 Bank & Fin-G . . . . . . . . . . .23.39 Gilt -D . . . . . . . . . . . . . . . . .13.55 Gilt -G . . . . . . . . . . . . . . . . .16.23 Growth -D . . . . . . . . . . . . . .28.63 Growth -G . . . . . . . . . . . . . .76.50 Infrastr FP-D . . . . . . . . . . . .11.96 Infrastr FP-G . . . . . . . . . . . .16.35 Infrastr VP-D . . . . . . . . . . . .12.33 Infrastr VP-G . . . . . . . . . . . .16.78 Liquid -D . . . . . . . . . . . .1024.90 Liquid -G . . . . . . . . . . . .1645.35 Liquid FP -MD . . . . . . . .1026.79 Liquid FP -WD . . . . . . . .1026.49 Liquid VP -DD . . . . . . . . .1024.93 Liquid VP -G . . . . . . . . . .1657.94 Liquid VP -MD . . . . . . . .1027.11 Liquid VP -WD . . . . . . . .1025.19 MidCap -D . . . . . . . . . . . . .17.52 MidCap -G . . . . . . . . . . . . .25.82 Midcap -B . . . . . . . . . . . . . .25.82 Midcap Auto PO . . . . . . . . .25.82 Power&NatRes-D . . . . . . . .12.44 Power&NatRes-G . . . . . . . .12.44 Star Value-D . . . . . . . . . . . .10.75 Star Value-G . . . . . . . . . . . .10.75 Super 20-D . . . . . . . . . . . . .10.95 Super 20-G . . . . . . . . . . . . .10.95 TaxGain . . . . . . . . . . . . . . . .32.19 TaxGain -D . . . . . . . . . . . . .18.33 WealthPlus FP-D . . . . . . . . .17.85 WealthPlus FP-G . . . . . . . . .17.85 WealthPlus VP-D . . . . . . . . .18.38 WealthPlus VP-G . . . . . . . . .18.38 Sundaram BNP Paribas Balanced -App . . . . . . . . . .44.35 Balanced -D . . . . . . . . . . . .15.44 Capex Opp.-D . . . . . . . . . . .14.84 Capex Opp.-G . . . . . . . . . . .23.55 EntertainOpp-D . . . . . . . . . .13.43 EntertainOpp-G . . . . . . . . . .14.52 FRF LTP Inst-G . . . . . . . . . .16.11 FRF LTP Inst-M . . . . . . . . . .10.57 FRF LTP Reg-AD . . . . . . . . .11.02 FRF LTP Reg-G . . . . . . . . . .13.66 FRF LTP Reg-HD . . . . . . . . .11.12 FRF LTP Reg-MD . . . . . . . .10.37 FRF LTP Reg-QD . . . . . . . . .11.33 FRF STP Inst-DD . . . . . . . . .10.06 FRF STP Inst-G . . . . . . . . . .14.37 FRF STP Inst-MD . . . . . . .
NAV (Rs.)
COUNTRY India US Australia Britain Canada Japan Singapore Switzerland UAE Euroland
INR 46.7050 42.4872 75.8078 43.8508 0.5276 33.5512 45.1981 12.7162 68.3498
USD 0.0214 1.0993 1.6229 0.9389 0.0113 0.7181 0.9676 0.2722 1.4632
AUD 0.0235 1.0995 1.7843 1.0323 1.2417 0.7898 1.0639 0.2993 1.6088
GBP 0.0132 0.6162 0.5604 0.5785 0.6959 0.4426 0.5962 0.9017
CAD 0.0228 1.0650 0.9687 1.7283 1.2029 0.7652 1.0306 1.5585
JPY 1.8954 88.5500 80.5400 143.7000 83.1400 63.6100 85.6800 24.1000 129.5700
SGD 0.0298 1.3920 1.2661 2.2592 1.3068 1.5721 1.3470 0.3790 2.0368
CHF 0.0221 1.0335 0.9401 1.6772 0.9703 1.1672 0.7424 1.5122
AED 0.0786 3.6733 3.3409 5.9616 4.1490 3.5545 5.3750
EUR 0.0146 0.6834 0.6216 1.1091 0.6417 0.7718 0.4909 0.6613 0.1861 -
RATES AS OF 6 PM IST Monday 14 Dec 2009
EXCHANGE RATES Currency Australian Dollar British Pound Canadian Dollar Danish Krone Euro Hong Kong Dollar Japanese Yen (*100) New Zealand Dollar Singapore Dollar Swedish Krona Swiss Franc UAE Dirham US Dollar
TT Buy 42.0750 75.0775 43.6350 9.0775 67.7550 5.9675 52.2975 33.4075 33.2400 6.4675 44.6400 12.4750 46.4800
Bill Buy 41.9900 74.9275 43.5450 9.0600 67.6175 5.9550 52.1925 33.3400 33.1725 6.4550 44.5500 12.4500 46.3875
TT Sell 42.8625 76.4625 44.4475 9.2675 69.0075 6.1000 53.2700 34.0375 33.8650 6.6075 45.4725 13.0000 46.9000
Bill Sell 42.9475 76.6150 44.5375 9.2850 69.1425 6.1100 53.3750 34.1050 33.9325 6.6200 45.5625 13.0250 46.9925
TC Buy 41.6500 74.3000 43.2000 8.9500 67.0500 5.9000 51.7500 33.0500 32.9000 6.4000 44.1500 12.3500 46.0000
CCY Buy 41.4500 73.9500 42.9500 8.9000 66.7000 5.8500 51.5000 32.9000 32.7000 6.3500 43.9500 12.2500 45.7500
TC Sell 43.3000 77.2500 44.9000 9.4000 69.7000 6.2000 53.8000 34.4000 34.2000 6.7000 45.9500 13.1500 47.4000
CCY Sell 43.5000 77.6500 45.1500 9.4000 70.0500 6.2000 54.1000 34.5500 34.4000 6.7500 46.1500 13.2000 47.6000
Source: AXIS Bank
CURRENCY FUTURES w MCX-SX USDINR291209 USDINR270110 USDINR240210 USDINR290310 NSE USDINR 291209 USDINR 270110 USDINR 240210 USDINR 290310
46.76 46.80 46.20 46.97
46.81 46.89 46.95 46.97
46.64 46.73 46.20 46.95
46.76 46.84 46.93 46.95
313360 145887 50042 4372
1051655.28 120466.75 67506.15 35.22
2250815 257408 143977 75
45078 13262 8173 2
46.75 46.87 46.91 47.69
46.81 46.89 46.95 47.69
46.64 46.72 46.81 46.93
46.76 46.84 46.93 46.98
351988 106807 25544 4152
0.00 28866.78 5112.78 14.10
2620469 61702 10904 30
51491 1004 119 15
1 unit denotes 1000 $ : Tick Size - Rs 0.25
INTEREST RATE FUTURES Instrument
Open Price
High Price
Low Price
Close Price
Open Interest
Value No Of No Of (Rs Lakhs) Contracts Trades
10YGS7 181209
93.49
93.49
93.48
93.48
3365
108.45
58
3
10YGS7 220310
91.79
91.81
91.77
91.77
2476
22.03
12
5
NSE
ECONOMY
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009 *
17
RBI to allow realty cos to take ECB Africa calls rich nations’ bluff route for integrated townships
TALKS DEADLOCKED AFTER AFRICA BLAMES THE RICH FOR SIDELINING OTHERS
Urmi A Goswami
which is obviously better than what a new SPV can get, they have emphasized. To ensure that ECB funds are not divertTHE Reserve Bank of India (RBI) is consid- ed, real estate companies have said ECB ering a proposal to allow real estate players proceeds can be kept in a separate bank account and all accounting for to access external commercial this money can be done sepaborrowings (ECBs) for interately. A source in RBI congrated townships, even if firmed the proposal from real they deal with other types of estate companies on condireal estate projects. tion of anonymity, but deAs of now, only companies clined to go into the details. which are purely into inteAn escrow account for this grated townships of specified purpose is what realty comsize are eligible to access ECBs, panies have proposed and as RBI was keen to make sure they are willing to undertake that funds are not diverted to MORE FUNDS strict accounting specificaother projects. Real estate companies have argued that tions to prove that ECB proceeds are used setting up a special purpose vehicle (SPV) for only for integrated townships. RBI was not willing to consider any relaxintegrated townships entails higher costs. Flagship companies have a credit rating, ation earlier, but the issue is under discussion G Ganapathy Subramaniam
COPENHAGEN
ET NOW
T
HE Copenhagen talks on Monday was deadlocked after African bloc accusing the developed countries of killing the Kyoto protocol. The Africans also alleged that an effort was on to sideline to poorest countries. The African countries, with the support of India and China, demanded that the rich countries put down firm commitments on their emission targets under the Kyoto Protocol before proceeding with discussions on the parallel Bali track of discussions. The crisis was aggravated when Australia said the developed countries will not put down emission reduction targets till there is there is a legal binding in the Bali or Longterm Co-operative Action track. The demand of the Australians have the backing of the European Union and Japan. The EU has set as it redlines two issues. First, no emission reduction targets will be offered by the developed nations without a legal agreement in the Bali track. And the second, a stronger monitoring, review and verification of efforts to deal with climate change. The demand for a legal agreement on the Long-term Co-operative track is geared towards ensuring that the US takes on legally binding emission targets. A stronger MRV regime would bring into its fold countries like China and India. Algeria’s Kamel Djemouai, who heads the Africa group, said that developed countries were trying to thwart the talks. Mr Djemouai said that the rich countries are trying to push for the killing of the Kyoto Protocol. “Their plans means that we are going to accept the death of the only one legally binding instrument that exists now,” he said. The African group gave Conference president Connie Hedegaard time to respond to their demand. Efforts are underway to repair matters. “The progress on the Kyoto protocol is not just a concern for the African countries. The vast majority of countries here want to see the
Danish police try to prevent protesters from running off with a balloon representing the volume of CO2 during a demonstration in Copenhagen on Monday — AP
continuation of the Kyoto Protocol. I’m not aware that any countries are trying to block anything. Their argument is that too much attention is being given to the Convention track, which mean not enough attention is being given to the Kyoto track,” UNFCCC executive secretary Yvo de Boer said. Through the morning and early afternoon, Ms Hedegaard held informal meetings to find a way to break the logjam. The Danish minister and COP president met with the BASIC and 30 other countries assuring them that talks would be held on both tracks -- that is Kyoto and LCA. “Talks will progress on both tracks and if differences remain then these will be reflected in square brackets. Ms Hedegaard assured that a political statement would not be forced but would be an outcome of the talks on both tracks," minister of state for environment Jairam Ramesh said. Hectic informal parleys and assurances that the Kyoto Protocol would not be killed resulted in the African countries returning to the table. “We’re going back,” Pa Ousman Jarju from the delegation of Gambia said.
China joins chorus against rich nations NEW DELHI: CHINA ripped into the developed world for trying to back out from their obligations to tackle climate change and sought close coordination with India to present a strong front at Copenhagen. Describing India and China as “emerging powers” and the “future of the world," Chinese Ambassador Zhang Yan said the two countries should take a lead in mobilising all developing nations to achieve a “win-win” result wherein development is not made to suffer at the cost of tackling global warming. The ambassador, who recalled the Chinese prime minister’s efforts to coordinate with India, said Wen Jiabo and Prime Minister Manmohan Singh would meet in Copenhagen on Thursday.
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I LAKSHMI (Incorporated on November 03 , 1926
now after the Central bank re-imposed an allinclusive interest ceiling for ECBs recently. Since SPVs cannot borrow at rates as fine as the parent entities, real estate companies have argued, integrated townships would be deprived of funding from this window. In the case of ECBs with tenure of three to five years, RBI has said interest paid should not exceed 300 basis points above Libor. “It is a win-win situation for real estate companies as well as overseas lenders,” said Anil Kumar, CEO and deputy MD of Ansal API. “Real estate firms can get long-term funds at competitive cost and lenders will be able to do business with real estate companies, even if they are not dealing exclusively with integrated townships,” he said. ECB proceeds for integrated townships has been allowed to promote infrastructure development. The government has specified that such townships should be built on a minimum area of 100 acres.
5. 6. 7. 8. 9.
VI LAS BANK
The Lakshmi Vilas Bank Limited
under the Indian Companies Act, 1913 with the Registrar of Companies, Trichinopoly. The Bank was licensed under the Banking Regulation Act, 1949 on June 19, 1958and became a scheduled commercial bank under the Second Schedule of Reserve Bank of India Act, 1934 on August 11 , 1958.) Registered & Admn . Office: Salem Road, Kathaparai, P.O. Karur — 639 006 , Tamil Nadu. (The registered office has been shifted from 693, Jawahar Bazaar, Karu r — 639 001 to the present registered office on September 11 , 1991) Tel.: (04324)220051-60 Fax: (04324)223607, Email:
[email protected], Website: www.lvbank.com
ISSUE CLOSES TODAY
ISSUE OF 4, 91, 64,453 FULLY PAID EQUITY SHARES OF RS.1O!- EAC H (“E QUITY SHARES”) AT A PREMIUM OF RS. 44!- PER FULLY PAID EQUITYSHAR E FORANAMOUNTAGGREGATING RS. 265.49 CRORES TO THE EXISTING EQUITY SHAREHOLDERS ON RIGHTS BASIS IN THE RATIO OF ONE FULLY PAID EQUITY SHARE FOR EVERY ONE EXISTING FULLY PAID EQUITY SHARE HELD BY THE EXISTING SHAREHOLDERS ON THE RECORD DATE i.e. SEPTEMBER 25, 2009 (“ISSUE”). THE ISSUE PRICE IS 5.4 TIMES OF THE FACE VALUE OF THE EQUITY SHARES OF THE BANK.
Computer Science & Engineering Electronics & Communication Engineering Electrica l & Electronics Engineering Electronics & Instrumentation Engineering
(PCM/PCB) for
Information Technology
• Candidates belong ing to SC I ST . •Students hailing from Jammu & Kashmir and from the North Eastern States of Assam, Meghalaya , Manipur , Tripura , Sikkim , Nagaland , Mizoram and Arunachal Pradesh . • Physics , Chemistry & Mathematics (PCM) candidates are eligible for all the programmes . • Physics , Chemistry & Biology (PCB) candidates are eligible only for B.Tech. Bioinformatics , Bio- Medical Engg. & Biotechnology programmes. • Candidates appearing for the 10+2 examination in March I April 2010 are also eligible to apply .
10 . Mechanical Engineering
11. Mechanical (Spec. in Chemical Process Engg.) 12 .Mechanical (Spec. in Energy Engg.)
B.Tech. Programmes Offe red at Proposed 1. 2. 3. 4. 5.
Civil Engineering Computer Science & Engineering Electronics & Communication Engineering Electrical & Electronics Engineering Mechanical Engineering
ASBA* Safe, Smart way of Application - Make use of it !!! *Application Supported by Blocked Amount (“ASBA”) is a bette r way of appl ying to issues by simpl y blocking the f u n d in the bank account , investors can avail the same. For further details check section on ASBA below. Simple,
PROMOTERS OF THE BANK: Shri C Krishnakumar , Shri ft Ma layalaramamirtham , Shri A. ft Venkaterarnan
PROPOSED LISTING : For the purposes of this Issue, the Designated Stock Exchange is the National Stock Exchange of India Limited. The existing Equit y Shares of the Bankare permitted fordealings on the Bombay Stock Exchange Limited under Permitted
Securities Category’. Disclaimer C lause of Securities and Exchange Board of India (“SEBI”): “SEBI only gives its observations on the offer
documents and this does not constitute approval of eitherthe issue or the offer document.” LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE
Standard Chartered STCI Capital Markets Limited SEBI Reg.No.:1NM000011542 1st Floor, DheerajAnna, Anant Kanekar Marg, Bandra (East),Mumbai-400051.Tel:+91 226751 5999 Fax: +91 2267515820 Email:
[email protected] Investorg evance id:
[email protected] , Website:http:llw w.standardchartcradcapitaImarkets.com/ Contact Person:Jayakumar Subramanian/Ramesh Ramanathan Standard Chaitered -
Integrated Enterprises (India) Limited SEBI Reg. No.:1NR000000544 I floor, “Kences Towers”, No.1. Ramakrishna Street, North Usrnan Road, 1.Nagar , Chennai - 600 017 Ph: (044)28140801, Fax: (044) 28142479 Email: lvb iepmndia.com Wobsita:www.iepindia.com Contact Person:S S ram
COMPLIANCE OFFICER: Shri.S.V enkat eswara n, Deputy General Manager & Company Secretary, Tel: (04324) 223993,
Fax: (04324)223607 E-mail: venkateswaransam©Ivbank.mn; Website :www.lvbank.com
AVAILABILITY OF DUPLICATE COMPOSITE APPLICATION FORMS (CAF): M/s . Integrated Enterprises (I) Ltd., II floor, KencesTowers” , No.1. Ramakrishna Street, North Usman Road,1.Nagar , Chennai -600017 AVAILABILITY OF LETTER OF OFFER: Investors are advised to refer to the Letter of Offer and the risk factors contained therein, before applying in the issue. Copies of Letter of Offer/Abridged Letter of Offer will be made available at the offices of Issuer Bank, Registrar and the Lead Managerto the Issue. Thefull copy of the Letterof Offer is available atwww.sebi.gov.in, www.lvbank.com and www.standardcharteredcapitalmarkets.com APPLICATION BY ASBA INVESTORS : The Equity Shareholders proposing to subscnbe to the Issue through the ASBA Process may note that the Company and the Lead Manager are not liable for any amendments or modifications or changes in applicable laws or regulations, which may occur after the date of the Letterof Offer/Abridged Letterof Offer. The option of applying for Equity Shares in the Issue through the ASBA Process is only available to Equity Shareholders of the Company on the Record Date. Equity Shareholders who are eligible to apply under the ASBA Process are advised to make their independent investigations and ensure that the number of Equit y Shares applied for by such Equity Shareholders do not exceed the applicable limits under laws or regulations. Equit y Shareholders applying under the ASBA Process are also advised to ensure that the CAF is correctly filled up, stating therein the bank account number maintained with the Self Certified Syndicate Bank ( SCSB”) in which an amount equivalent to the amount payable on application as stated in the CAF will be blocked by the SCSB.The list of banks who have been notified by SEBI to act as SCSB for the ASBA Process are provided on http://www.sebi.gov.in/pmd/scsb.html. For details on designated branches of SCSB collecting the CAF for Equity shareholders applying under the ASBA process, please refer to the above mentioned SEBI link. For The Lakshmi Vilas Bank Limited (For and on behalf of Board of Diredors)
V. S. Reddy
Managing Director
ENTRANCE EXAMINATION CENTRES Agartala , Agra , Ahmedabad , Aligarh, Allahabad, Anantapur , Asansol , Aurangabad (Maharashtra), Bangalore , Bareilly, Berhampur , Bhagalpur , Bhathinda, Bhilai , Bhopal , Bhubaneshwar, Bikaner , Bilaspur , Bokaro , Chandigarh, Chennai , Coimbatore, Dehradun, Delhi , Dhanbad , Dibrugarh , Durgapur , Gangtok, Gea , Gorakhpur, Gurgaon, Guwahati , Gwalior , Hissar , Hubli, Hyderabad, Indore, Itanagar , Jabalpur, Jaipur, Jalandhar , Jamshedpur, Jhansi , Jodhpur, Kanpur, Kochi , Kolkata , Kota,
Kozhikode, Kurukshetra , Lucknow, Ludhiana, Madurai, Mahabubnagar , Mangalore, Moradabad, Mumbai. Muzzafarpur, Nagpur , Nashik , Nellore , Nizamabad , Noida , Pant Nagar , Patna , Port Blair , Pudhucherry , Pune , Raebareli , Raipur , Rajahmundry , Rajkot , Ranchi , Roorkee , Rourkela , Salem , ShiIIong, Shimla , Silchar , Siliguri , Surat , Thiruvananthapuram, Tiruchirapalli , Tirunelveli, Tirupati, Udaipur , Ujjain , Vadodara , Varanasi , Vellore , Vijayawada, Visakhapatnam , Warangal; Ove rseas Centres: Dubai , Riyadh , S ingapore
-
NRI students can appl y online at
www.vit.ac .in
Application forms can be obtained
> from the designated branches of Post Offices on cash payment of Rs.7501-. Details available in the VIT website: www.vit.ac.in ) by sending a Demand Draft for Rs.750/- drawn in favour of “VII University” , payable at Vellore , to the Admissions Officer with a )
request letter containing the full address of the applicant by handing over a DD for Rs.7501- in person at VII University, Vellore (or) at Chennai Administrative Office.
Im p o r t a n t Dates Last date of receipt of application 20 .02 .2010
Issue of application forms from 14 .12 .2009 Admissions Officer
VIT Univ ersity, Vellore —
632
Entrance Examination on 17 .04 .2010
For further details,visit our website : www.vit.ac.in or contact: Chennai Administrative Office 014 14,Tamil Nadu Nadu, New No. 6, (Old No. W-73), Second Street ,India.
Phone: +91 - 416 - 220 2168 / 2157/ !157/ 2125 Fax: +91 - 416 - 2245544,224 0411 0411
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Anna Nagar (Opp.Towers Club), Chennai - 600 040. Phone: +91 -44 - 4201 6555, 6548 0555 Fax: +91 - 44 - 2622 2555
Email: admission vit.ac.in
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18
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■ MARKET SNAPSHOT
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SENSEX Open 17118.14 High 17275.19 Low 17048.17 Close 17097.55 Change(Abs) -21.48 52-Wk High (Oct 17)17493.17 52-Wk Low (Mar 6)8047.17 3-Yr High (Jan 10,08)21206.77 3-Yr Low (Oct 27,08)7697.39
BSE
BSE
NIFTY 5117.45 5156.70 5090.15 5105.70 -11.60 (Dec 11)5182.55 (Mar 6)2539.45 (Jan 8,08)6357.10 (Oct 27,08)2252.75
(Number of traded scrips)
Advances Declines
■ BUSINESS AHEAD
‘A’
‘B ‘
‘S ‘
Others
Total
60
753
190
136
1139
397
1123
259
184
1705
869
—
38
14
12
64
31
199
1914
463
332
2908
1297
Company
Agenda
Company SENSEX Reliance Ind Infosys Tech L&T ICICI Bank HDFC HDFC Bank ITC SBI ONGC Bharti Airtel BHEL Tata Consult Tata Steel Hind.Unilever Sterlite Inds Tata Power Maruti Suzuki M&M Tata Motors Wipro NTPC Hindalco Jaiprakash Asso Grasim Inds. Hero Honda Reliance Infra DLF Reliance Comm. Sun Pharma ACC
Days Close
NIFTY Reliance Ind Infosys Tech L&T ICICI Bank HDFC ITC HDFC Bank SBI ONGC Bharti Artl BHEL Tata Consult Tata Steel Hind.Unileve Sterl.Inds. Jindal Steel Axis Bank Tata Power Maruti Suzuk IDFC M&M Tata Motors Wipro GAIL (I) NTPC Hindalco Jaiprak.Asso Grasim Inds. Cipla Hero Honda Relian.Infra DLF SAIL Reliance Com Pun.Nat.Bank Unitech Cairn Sun Pharma. Rel Capital Idea Cellulr ACC Siemens Ambuja Cemen BPCL Ranbaxy Lab. ABB HCL Techno. Power Grid Reliance Pow Suzlon Enrgy
BOOK CLOSURES & RECORD DATES m
M m M m m m M
BSE SETTLEMENT PROGRAMME m
■ CORPORATE ACT ONS CHANGE N C RCU T F LTER ON BSE m
NEW L ST NG ON NSE
Days Close
% Mcap* Days Chg (Rs.Cr.) Weight
5105.70 -0.23 1456206 1067.95 -0.31 158638 2498.75 1.54 119581 1699.95 0.55 99660 850.70 -1.60 94733 2679.80 -0.57 67579 250.70 -0.81 64601 1757.30 -1.56 64495 2246.90 -0.86 57902 1203.10 1.13 40581 319.55 -3.62 39856 2409.55 1.61 38075 705.10 -0.14 32831 544.50 -0.38 31915 267.55 -1.98 27970 838.80 -0.36 27788 723.55 -2.86 27768 994.65 -0.91 25495 1347.40 -0.98 21319 1609.45 1.11 21292 161.70 -1.61 20958 1039.90 1.02 20602 710.55 -0.19 20327 658.55 2.20 19958 419.65 0.80 18855 208.00 -0.53 18008 140.15 -1.23 17608 228.30 -0.54 17525 2457.55 2.36 16857 342.20 0.53 16655 1684.40 0.86 15150 1057.70 -0.91 14956 382.50 -0.14 13859 213.00 0.97 12475 181.30 -1.25 12221 914.40 -0.33 12167 86.45 -0.23 12137 270.70 -0.46 11645 1455.35 0.91 10939 845.60 -0.30 9681 58.30 -2.43 9194 858.35 5.09 8669 560.00 2.55 8463 99.30 1.33 8097 620.60 -0.28 8019 516.80 3.83 7839 753.90 0.40 7651 342.65 -1.40 7334 104.95 -0.19 6025 146.55 -0.88 5346 82.55 -0.72 4906
m
M W
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84
28
38
158
52WK Low
54
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SYMBOL CHANGE ON NSE
m
mm
w m NO
Turn Shares Trades Turn Shares Trades
Date
14/12
4130
3190 19.74 12700 5996 54.61
11/12
5226
4252 23.25 15061 7942 62.90
10/12
4588
4736 21.64 13993 7825 60.51
11/12 2168 1826 10/12 2555 2178 9/12 2106 2403 8/12 2874 1880 7/12 1937 1940 Tot Dec 24772 18663 Total 2009 603288 523016
2
1
5
8
7
All High
2
17
2
8
29
12
9/12
5129
4730 23.32 14907 7920 63.65
All Low
—
1
—
1
2
7
8/12
4969
3983 22.33 15367 7979 64.62
Buy
Sell
Net
Buy
Sell
Net
342 327 377 154 -297 211 994 820 -3 — 6109 2277 80271 105215
524 357 108 4 1 2103 95668
-197 -203 103 816 -1 173 9767
Date
Buy
Sell
Net
Buy
m
Sell
m
m
Net
10/12 752 810 -58 2543 1379 1164 9/12 516 977 -461 2251 1742 509 8/12 727 956 -230 2437 1142 1296 7/12 546 904 -358 2037 1652 385 4/12 535 631 -96 2066 1311 756 Tot Dec 5489 6666 -1177 17395 11507 5888 Total 2009 173702 178420 -4717 494373 292942 201417
☞ ☞ MM
m w
☞ ☞W
☞
w
☞
W W
m
m
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M M M
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☞ ALL T ME AT BSE S nce 1993
52 WEEK AT BSE
m
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BEST AT BSE
WORST AT BSE
Days Close
Prev Close
% Chg
Volume
Company
Days Close
% Chg
Volume
‘A’ Group MMTC 35766.55 33789.30 5.85 4389 ACC 858.25 814.80 5.33 370912 Guj.NRE Coke 65.75 62.70 4.86 1568783 UltraTech Ce 898.75 860.30 4.47 84044 Ranbaxy Lab. 517.05 496.95 4.04 614027 India Cement 120.40 116.30 3.53 810078 Bajaj Auto 1784.30 1724.50 3.47 129493 Nagar.Const. 156.05 150.90 3.41 438301 ‘B ‘ Group Cyber Media 40.85 34.05 19.97 1318 Shakti Press 12.09 10.08 19.94 30636 Kilitch Drug 124.80 104.10 19.88 449354 GMR Ferro Al 38.35 32.00 19.84 453275 Super Crop. 12.28 10.25 19.80 117286 Bengal Tea 46.65 39.20 19.01 199346 Savita Oil T 449.15 380.00 18.20 174628 Others BMB Music(T) 50.00 12.00 316.67 1000 Vimal Oil Fd(S) 41.05 34.45 19.16 143052 Suryalata Sp(S) 51.40 44.50 15.51 32509 Zicom Electn(S) 115.15 100.35 14.75 2304458 Hitech Plast(S) 87.10 78.00 11.67 14861
‘A’ Group Oriental Bnk IVRCL Infras Shriram Tran Bharti Artl Tata Comm. Koutons Retl Titan Inds. United Spiri ‘B ‘ Group Umang Dairy Raghuvir Syn Nova Petro. PCS Tech. Minaxi Text. Sandu Pharma NEPC (I) Others Parker Agro.(S) Tai Inds.(S) Nagreeka Exp(S) Damodar Thr.(S)
TURNOVER TOPPERS AT BSE
TURNOVER TOPPERS AT NSE
Company
Company
Turnover (Rs.Cr.)
% Chg
316.34 116.55 112.96 100.66 77.47 77.32 72.52 63.99 59.75 58.38 55.75 53.00 51.88 49.38 47.40 47.21
-54.19 -27.37 -20.48 28.34 -12.02 -5.81 -26.35 -21.53 -1.50 75.98 390.74 -28.78 -29.17 65.07 -7.11 -18.77
Cox & Kings Tata Steel SBI HDIL Reliance Ind ICICI Bank DLF Unitech L&T Infosys Tech Thinksoft Gl Suzlon Enrgy BHEL Aban Offshor Satyam Comp Rel Capital
No of Shares 7172696 2129892 499633 2908517 721172 901460 1895878 7350436 350769 233629 2040463 6368915 215415 397113 4473361 555403
Days Close 421.25 544.65 2248.30 348.05 1066.35 850.40 382.65 86.45 1700.45 2498.00 279.05 82.55 2409.80 1241.60 105.25 845.85
Cox & Kings SBI Tata Steel ICICI Bank Reliance Ind DLF Unitech HDIL Infosys Tech BHEL Bharti Artl HDFC L&T Jindal Steel Suzlon Enrgy Hindalco
249.20 348.70 447.90 319.85 340.35 347.10 1297.05 1319.95
263.60 364.90 466.30 331.35 352.25 358.25 1336.40 1358.80
5.46 216549 4.44 356818 3.95 20077 3.47 1414719 3.38 153100 3.11 31003 2.94 4543 2.86 70263
23.63 48.75 21.35 19.30 1.13 15.85 11.28
29.24 60.00 25.75 21.70 1.25 17.47 12.42
19.19 380688 18.75 66815 17.09 1378885 11.06 27297 9.60 84899 9.27 25926 9.18 353242
16.84 14.07 21.65 23.40
18.65 15.38 23.45 25.30
Turnover (Rs.Cr.) 542.51 442.79 358.28 352.60 341.93 327.23 296.95 294.16 286.97 277.15 243.22 235.19 222.42 205.29 192.44 154.20
WORST AT NSE
BEST AT NSE Prev Close
% Chg -55.51 -3.14 -30.27 -2.81 -10.08 -2.53 -21.28 19.73 35.84 -31.03 -44.63 48.19 -17.20 -49.48 -16.35 70.95
9.71 8.52 7.68 7.51
7900 725 12564 691
No of Shares
Days Close
12257868 1959484 6548575 4110283 3182678 8557467 34113204 8507051 1148722 1149722 7517994 876034 1306450 2815846 23129333 10820961
421.75 2246.90 544.50 850.70 1067.95 382.50 86.45 347.70 2498.75 2409.55 319.55 2679.80 1699.95 723.55 82.55 140.15
Company
Days Close
S&P CNX Nifty ACC Ranbaxy Lab. Siemens Grasim Inds. Wipro BHEL Infosys Tech Ambuja Cemen ONGC Maruti Suzuk CNX Nifty Junior UltraTech Ce Aditya Bir.N Bk of Baroda Cadila Healt Union Bank CNX Midcap India Cement Madras Cem. Birla Corp. Engineers (I Crompton Gr.
Prev Close
% Chg
Volume
858.35 516.80 560.00 2457.55 658.55 2409.55 2498.75 99.30 1203.10 1609.45
816.75 497.75 546.05 2400.95 644.40 2371.30 2460.75 98.00 1189.60 1591.75
5.1 3.8 2.6 2.4 2.2 1.6 1.5 1.3 1.1 1.1
1282794 2142787 911477 158215 1036854 1149722 1148722 3421625 656616 497722
899.15 868.15 508.60 659.75 267.20
860.10 851.40 499.50 651.10 264.95
4.5 2.0 1.8 1.3 0.8
363102 211852 980787 64400 713383
120.40 116.30 117.10 113.45 321.95 312.60 1376.55 1340.35 409.65 400.30
3.5 2959629 3.2 344341 3.0 46933 2.7 23007 2.3 780667
SPURT N VOLUMES AT BSE m
W
Company
Days Close
% Chg
S&P CNX Nifty Bharti Artl 319.55 331.55 Jindal Steel 723.55 744.85 Idea Cellulr 58.30 59.75 Hind.Unileve 267.55 272.95 IDFC 161.70 164.35 ICICI Bank 850.70 864.50 HDFC Bank 1757.30 1785.15 HCL Techno. 342.65 347.50 Reliance Com 181.30 183.60 Hindalco 140.15 141.90 CNX Nifty Junior Nirma 197.65 203.55 United Spiri 1319.80 1358.90 IDBI Bank 129.00 132.60 Piramal HC 400.15 411.10 Canara Bank 391.45 401.70 CNX Midcap Jindal Saw 182.15 188.95 Allahabad Bk 128.85 132.95 Alfa Laval 1265.05 1303.95 HCL Infosys. 144.35 148.30
7517994 2815846 5934868 2033309 4467036 4110283 807112 660894 6060285 10820961
2.9 44758 2.9 359140 2.7 6160869 2.7 107813 2.6 891040
W
w M
NEGATIVE TREND
Company KS Oils Ashok Leylan Piramal HC Orchid Chem Pantaloon Re Biocon GTL Infrast. Patel Engg. Voltas Grasim Inds. Bhushan Stee
Spot Future Price Price 64.35 64.90 51.00 51.35 400.15 402.70 213.95 215.25 354.45 356.55 277.30 278.90 37.25 37.45 451.35 453.80 170.65 171.55 2457.55 2470.25 1338.30 1345.10
% Diff 0.85 0.69 0.64 0.61 0.59 0.58 0.54 0.54 0.53 0.52 0.51
OI Chg(%) 0.62 1.41 11.47 2.66 2.00 4.38 -0.14 0.13 10.48 1.52 10.40
Contract 5200.00-Dec 5100.00-Dec 55.00-Dec 5300.00-Dec 60.00-Dec 90.00-Dec 57.50-Dec 5400.00-Dec 85.00-Dec 20.00-Dec
Company Great Offsho Sesa Goa ONGC Tata Chem Bk of India Container Co GAIL (I) Idea Cellulr
Spot Price
Future Price
% Diff
OI Chg(%)
513.15 449.45 -12.41 369.25 362.90 -1.72 1203.10 1185.15 -1.49 315.45 311.25 -1.33 382.00 380.20 -0.47 1230.65 1225.05 -0.46 419.65 417.80 -0.44 58.30 58.05 -0.43
3.03 -0.99 0.16 0.00 8.46 -40.35 -12.84 3.65
ACTIVE PUTS Traded Qty 16473750 10380800 6367040 6317400 5421440 3829500 2505840 2298500 2286000 2128950
Open Chg in Interest OI (%) 7030950 6.65 5070950 9.35 7147160 9.15 4761650 0.00 9716040 4.40 4036500 2.40 3475080 4.75 3653000 -0.06 2970000 4.21 6100500 -0.20
Company NIFTY NIFTY NIFTY NIFTY NIFTY IFCI NIFTY IFCI Unitech Suzlon Enrgy
Contract 5100.00-Dec 5000.00-Dec 4900.00-Dec 5200.00-Dec 4800.00-Dec 50.00-Dec 4700.00-Dec 55.00-Dec 80.00-Dec 80.00-Dec
Traded Qty 13148350 11486700 5008950 2245300 2164000 1639040 1216500 977120 783000 762000
Open Chg in Interest OI (%) 3822950 -1.05 5653750 2.00 5173150 2.06 2573550 2.93 4764300 -0.01 3317480 -1.17 3197900 0.73 1851800 9.81 2709000 12.10 1560000 9.01
☞ Wm w
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■ BULK DEALS m
m
3.6 1104223 3.1 717725 3.0 1913 2.7 201833
SPURT N VOLUMES AT NSE
%
m
W
m
%
m M M
m m m
m
M m W
m M
m
m
w WM
F&O CORNER - NSE POSITIVE TREND
☞ ☞
mm
M M
☞
m
Volume
3.6 2.9 2.4 2.0 1.6 1.6 1.6 1.4 1.3 1.2
w w
M
m
m Prev Close
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☞
w
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Company
m
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NIFTY NIFTY IFCI NIFTY IFCI Unitech IFCI NIFTY Suzlon Enrgy Ispat Inds.
M M m
Date
—
Company
STOCK SPL T ON BSE
O
8
Total
ACTIVE CALLS
— — —
m
PE
100.00 22.74 10.89 24.0 8.21 22.7 6.84 21.2 6.51 24.1 4.64 30.5 4.44 26.4 4.43 31.4 3.98 11.2 2.79 17.6 2.74 13.6 2.61 34.0 2.25 23.5 2.19 — 1.92 29.4 1.91 25.7 1.91 52.2 1.75 18.4 1.46 31.0 1.46 28.9 1.44 24.2 1.41 18.6 1.40 17.8 1.37 23.0 1.29 23.6 1.24 19.7 1.21 16.8 1.20 16.6 1.16 7.8 1.14 27.4 1.04 18.7 1.03 19.6 0.95 39.0 0.86 16.5 0.84 7.1 0.84 7.9 0.83 27.5 0.80 66.7 0.75 21.2 0.66 25.3 0.63 17.9 0.60 10.4 0.58 18.1 0.56 12.3 0.55 4.6 0.54 — 0.53 36.5 0.50 22.1 0.41 22.1 0.37 58.2 0.34 12.7
% M m
m
NO
Total
■ NEW H GHS AND LOWS
Debt
PE
100.00 21.84 13.04 24.0 9.84 22.6 8.21 21.2 7.80 24.1 5.57 30.6 5.31 31.4 5.28 26.2 4.77 11.2 3.34 17.6 3.28 13.6 3.13 34.0 2.70 23.5 2.63 — 2.31 29.5 2.28 25.7 1.76 31.0 1.75 28.8 1.69 18.5 1.67 17.8 1.64 23.0 1.48 19.7 1.45 16.8 1.44 16.6 1.39 7.8 1.25 18.7 1.23 19.6 1.14 39.0 1.01 7.1 0.90 21.1 0.71 10.4
NSTANEX SK ND A
m
m
Others
(Rs. Cr.)
Equity
m
* Free Float Market Cap
m
N
‘S ‘
Debt
m
% Mcap* Days Chg (Rs Cr) Weight
17097.55 -0.13 1214674 1066.35 -0.24 158400 2498.00 1.76 119545 1700.45 0.85 99689 850.40 -1.49 94700 2682.95 -0.38 67658 1756.10 -1.53 64451 248.70 -1.49 64086 2248.30 -0.77 57938 1201.85 1.00 40539 319.85 -3.47 39894 2409.80 1.94 38079 705.45 0.18 32847 544.65 -0.17 31924 268.00 -1.76 28017 837.25 -0.46 27737 1347.95 -0.90 21327 1603.75 1.06 21217 1037.20 0.71 20548 710.45 -0.07 20325 658.75 2.23 19964 207.95 -0.53 18004 140.10 -1.20 17601 228.25 -0.52 17521 2463.00 2.84 16895 1685.45 0.88 15160 1057.80 -0.76 14957 382.65 0.01 13865 181.20 -1.33 12215 1450.75 0.65 10904 858.25 5.33 8668
Company
m
‘B ‘
■ MF ACTIVITY
Equity
NSE
WINNING BIG, LOSING BIG
NIFTY
D
‘A’ 52WK High
BSE
NSE
■ INDEX MOVERS SENSEX
BOARD MEETINGS
W
■ TURNOVER ShaTreusrn&ovTerar dinesRisn. CLarokrhes. ■ FII ACTIVITY
(Number of scrips)
Total
139
Unchanged Total
NSE
THE ECONOMIC TIMES TUESDAY 15 DECEMBER 2009
FUTURE OI GAINERS
FUTURE OI LOSERS
Company
Chg in Future Chg in OI (%) Price Price (%)
Company
17.13 209.10 15.83 860.75 15.39 2488.30 14.56 349.85 11.47 402.70 10.48 171.55 10.40 1345.10 9.87 341.10 8.46 380.20 8.10 205.75
Container Co M&M BHEL Maruti Suzuk Canara Bank Nagar.Const. GAIL (I) GTL Federal Bank Lupin
Shree Renuka ACC Infosys Tech IVRCL Infras Piramal HC Voltas Bhushan Stee Tata Comm. Bk of India Punj Lloyd
Open Interest 16065000 1823976 2773800 4517000 364500 2049300 430000 1717800 1765100 9267000
-2.34 5.35 1.41 -4.26 -1.78 3.06 1.38 -3.40 -2.02 -0.31
Open Interest
■ NS DER TRAD NG
8500 1849224 2034000 1638400 1720000 1820000 2612250 4237500 666333 410200
40.35 31.98 19.95 17.78 17.56 13.42 12.84 12.31 11.53 9.08
1225.05 1039.70 2409.90 1607.45 391.20 156.85 417.80 371.15 243.85 1446.30
0.77 1.19 1.93 0.94 -2.98 3.36 1.28 0.66 -0.47 -0.11
MARKET-WIDE POSITION LIMIT
TOP SECTORAL OI GAINERS
Company
Sector
MWPL (Lakh) Aban Offshor 29.65 IFCI 1475.67 Deccan Aviat 179.38 Orchid Chem 104.60 Essar Oil 274.32 Ispat Inds. 1438.92 Welspun Guj Stah 208.70 Balrampur Ch 325.20 Bajaj Hindus 219.31 Suzlon Enrgy 1449.92
OI MWP Chg in (Lakh) (%) OI (%) 25.59 86.32 0.11 1251.74 84.82 -2.36 151.81 84.63 -6.54 82.91 79.26 2.39 203.61 74.22 -1.25 1054.64 73.29 0.46 152.61 73.12 -1.46 209.69 64.48 0.03 134.75 61.44 -0.51 781.50 53.90 -1.03
Open Interest
Chg in OI (%)
Paints 6600 6.45 Sugar 54040825 4.29 Entertainment 39162725 4.14 Construction 29754400 3.52 Telecomm-S 109350150 2.46 Automobiles 34970046 2.19 Retail 3079550 2.00 FMCG 24787175 1.55 Telecomm-E 47280600 1.22 Capital Goods 92016160 1.04
m
m
Chg in Future Chg in OI (%) Price Price (%)
Trd Qty
M
M m M
W m m m
M M m
Chg in TQ (%)
8000 185.71 28848900 -39.35 6355775 -1.04 11301300 6.66 31470175 -34.67 15464008 21.91 402900 -8.67 5493275 1.62 5878900 -20.17 44475606 -12.55
M m
M
M M M M m
m m
m W
STOCKS ON BSE/NSE m
BSE - A GROUP / NSE m
m
Aban Offshor{2} (1230.40) 1230,1261.50,1222.10,1241.60 [397113,12856] . .15.6 [N](1230.65) 1205.20,1262,1205.20,1243.50 [1220076,42190] . . . . . . . .15.7 ABB{2} (751.20) 758,763.90,750,752.65 [89495,3192] . . . . . . . . . . . . . . . . . . .36.4 [N](750.90) 755,764,751,753.90 [455669,18152] . . . . . . . . . . . . . . . . . . .36.5 ACC (814.80) 816,862.90,816,858.25+ [370912,9011] . . . . . . . . . . . . . . . . . .10.4 [N](816.75) 818,862.50,817,858.35 [1282794,31825] . . . . . . . . . . . . . . .10.4 Ackruti City (525) 524,527,510,514.40 [111548,688] . . . . . . . . . . . . . . . . . . . .— [N](523.55) 525,526.50,510.10,515 [145330,1409] . . . . . . . . . . . . . . . . . . .— Adani Enterp{1} (425.60) 430.10,433,423.10,424.55 [24724,734] . . . . . . . . . .36.8 [N](425.60) 429.45,432,424,425.25 [84367,2090] . . . . . . . . . . . . . . . . . .36.8 Aditya Bir.N (851.30) 851,877,851,867.65 [63662,1764] . . . . . . . . . . . . . . . . . .— [N](851.40) 858.80,877,851.90,868.15 [211852,5117] . . . . . . . . . . . . . . . . .— Allahabad Bk (132.85) 133,133.70,128.50,129.10 [147270,1469] . . . . . . . . . .4.5 [N](132.95) 133,133.65,128.40,128.85 [717725,7958] . . . . . . . . . . . . . . . .4.5 Alstom Proj. (574.95) 574.75,578.15,559,561.20 [88798,3431] . . . . . . . . . . .26.3 [N](575.80) 575,575.90,559.15,561.35 [305609,11357] . . . . . . . . . . . . . .26.3 Ambuja Cemen{2} (97.15) 98,99.85,97.50,99.30 [504640,2287] . . . . . . . . . . .12.3 [N](98) 98,99.90,97.40,99.30 [3421625,11889] . . . . . . . . . . . . . . . . . . . . .12.3 Andhra Bank (113.65) 113.50,114.80,111.70,112.15 [139618,1363] . . . . . . . .5.8 [N](113.85) 113,114.70,111.60,111.85 [853089,8161] . . . . . . . . . . . . . . . . .5.7 Apollo Hosp. (559.50) 559,563,552,556.75 [4039,259] . . . . . . . . . . . . . . . . .25.0 [N](560.10) 569.90,569.90,552,555.40 [38954,1170] . . . . . . . . . . . . . . . .25.0 Areva T&D In{2} (280.65) 282.50,286.85,274,276.15 [145129,3159] . . . . . . . .36.8 [N](280.90) 280,285.40,274.25,276.55 [216189,6160] . . . . . . . . . . . . . . .36.9 Ashok Leylan{1} (51.45) 51.35,52.20,50.60,51.05 [273015,1519] . . . . . . . . . .40.2 [N](51.50) 51.10,52.20,50.60,51 [1834079,8576] . . . . . . . . . . . . . . . . . . .40.2 Asian Paints (1703.75) 1711.80,1720,1705,1716.85 [3904,193] . . . . . . . . . .27.2 [N](1707.35) 1705,1720,1705,1712.45 [8040,862] . . . . . . . . . . . . . . . . . .27.2 Axis Bank (1003.65) 1010,1014,989.15,994.20 [205467,5464] . . . . . . . . . . .18.4 [N](1003.75) 1003,1013,989.50,994.65 [1108154,22115] . . . . . . . . . . . . .18.4 Bajaj Auto (1724.50) 1724,1800H,1724,1784.30 [129493,4057] . . . . . . . . . .35.0 [N](1725.25) 1725,1788.70H,1711,1783.85 [547113,20607] . . . . . . . . . .35.0 Bajaj Holdg. (556.50) 561.85,561.85,550.55,554.15 [13803,529] . . . . . . . . . .6.5 [N](555.25) 555,558,550.30,556.25 [25237,1234] . . . . . . . . . . . . . . . . . . .6.6 Balrampur Ch{1} (144.45) 146,146.25,141.50,141.95 [1024145,6121] . . . . . .16.1 [N](144.80) 145,146.20,141.50,142 [3755794,27202] . . . . . . . . . . . . . . .16.1 BEML (1018.50) 1038,1038,1018,1022.80 [77636,565] . . . . . . . . . . . . . . . . .17.1 [N](1017.70) 1022,1031.90,1007,1025.30 [58519,2106] . . . . . . . . . . . . .17.1 Bharat Elect (1907.25) 1914.45,1920,1875,1882.25 [5826,403] . . . . . . . . . .16.2 [N](1916.45) 1910,1919.95,1875,1882.45 [20107,1320] . . . . . . . . . . . . .16.2 Bharat Forge{2} (274.65) 276,278,269.10,270.70 [234814,3483] . . . . . . . . . .103.3 [N](273.95) 275.05,278,269.15,270.75 [1054313,17093] . . . . . . . . . . . .103.3 Bharti Artl{5} (331.35) 333,334,318.60,319.85- [1414719,19078] . . . . . . . . . . .13.6 [N](331.55) 336,336.70,318.50,319.55 [7517994,87634] . . . . . . . . . . . . .13.6 BHEL (2364) 2374,2427,2351,2409.80 [215415,10066] . . . . . . . . . . . . . . . . .34.0 [N](2371.30) 2371,2429.85,2358,2409.55 [1149722,43565] . . . . . . . . . . .34.0 Bhushan Stee (1324.05) 1327,1352.95,1304.55,1337 [90718,2150] . . . . . . .11.2 [N](1324.05) 1329.85,1353.40,1304.05,1338.30 [186797,6094] . . . . . . . .11.2 Biocon{5} (280.95) 280.30,284.95,274.50,277.35 [205173,2699] . . . . . . . . . . .30.0 [N](280.75) 280.75,284.90,274.55,277.30 [772127,10775] . . . . . . . . . . .30.0 Bk of Baroda (499.15) 500,514.90,499,509.90 [200628,3247] . . . . . . . . . . . .6.7 [N](499.50) 489.90,514.65,489.90,508.60 [980787,12666] . . . . . . . . . . . .6.7 Bk of India (387.45) 385.10,386.85,377.70,382.05 [141525,2580] . . . . . . . . .7.7 [N](387.50) 387,387,377,382 [468311,8548] . . . . . . . . . . . . . . . . . . . . . . .7.7 Bosch (4620.40) 4600,4650,4600,4636.25 [653,115] . . . . . . . . . . . . . . . . . . .27.9 [N](4613.75) 4728,4728H,4616.50,4641.35 [503,105] . . . . . . . . . . . . . . .27.9 BPCL (620.45) 620,632.80,615,620 [37376,1000] . . . . . . . . . . . . . . . . . . . . . .4.6 [N](622.35) 621,633.50,616.25,620.60 [350342,12765] . . . . . . . . . . . . . . .4.6 Cadila Healt{5} (651.40) 657.70,673,654.05,659.55 [21381,551] . . . . . . . . . . .24.0 [N](651.10) 658,672.80,653,659.75 [64400,1513] . . . . . . . . . . . . . . . . . .24.0
Cairn (271.95) 271.70,273.65,267.60,270.60 [374755,5039] . . . . . . . . . . . . .66.7 [N](271.95) 270,273.90,267.30,270.70 [2211840,21555] . . . . . . . . . . . . .66.7 Canara Bank (401.25) 401,404.80,388.80,391.40 [314832,2700] . . . . . . . . . .5.6 [N](401.70) 402.50,404.30,389.30,391.45 [891040,14516] . . . . . . . . . . . .5.6 Castrol (I) (558.10) 564.80,564.80,554.80,558.20 [8418,219] . . . . . . . . . . . .19.9 [N](558.50) 558.05,561.50,555,558.45 [52258,293] . . . . . . . . . . . . . . . . .19.9 Central Bank (149.85) 148.25,151.70,147.30,148.75 [66426,1009] . . . . . . . . .6.0 [N](150.45) 149,151.40,147.80,148.80 [163226,2508] . . . . . . . . . . . . . . . .6.0 Century Text (490.70) 494,500.90,486,497.35 [204945,3542] . . . . . . . . . . . .13.2 [N](490.75) 492.50,501.90,485.45,496.90 [593521,12114] . . . . . . . . . . . .13.1 CESC (395.35) 395.05,396.90,392,393.90 [16473,578] . . . . . . . . . . . . . . . . .11.6 [N](395.45) 396,396.90,391.60,394.60 [75899,2302] . . . . . . . . . . . . . . . .11.7 Chambal Fert (60.05) 60.05,61.30,59.15,59.70 [1241432,4857] . . . . . . . . . . .8.9 [N](60.10) 60.10,61.40,59.10,59.85 [5188973,27578] . . . . . . . . . . . . . . . .8.9 Chennai Pet. (216.95) 215.10,220.50,213.40,216.50 [32053,836] . . . . . . . . . .— [N](216.35) 214,220,213.05,216.20 [163635,4559] . . . . . . . . . . . . . . . . . . .— Cipla{2} (341.05) 342.25,347,340,341.95 [105506,1917] . . . . . . . . . . . . . . . . .27.4 [N](340.40) 343,346.60,338.90,342.20 [680470,10765] . . . . . . . . . . . . . .27.4 Colgate{1} (677.95) 680,681.80,674.90,677.05 [21098,492] . . . . . . . . . . . . . . .26.5 [N](678.80) 678.80,684.40,674,677.45 [272626,2110] . . . . . . . . . . . . . . .26.5 Container Co (1228.50) 1234.80,1235.95,1227,1229.45 [2069,71] . . . . . . . .20.7 [N](1229.85) 1234.95,1240,1225.50,1230.65 [13620,550] . . . . . . . . . . . .20.7 Corpn. Bank (438.30) 439,443,431.50,435.25 [5599,218] . . . . . . . . . . . . . . . .5.8 [N](436.75) 438,447,430,432.25 [28410,1559] . . . . . . . . . . . . . . . . . . . . . .5.8 Crompton Gr.{2} (400.20) 394.25,412.20,394.25,409.90 [100832,1784] . . . . .22.4 [N](400.30) 402.80,412.40,397,409.65 [780667,10790] . . . . . . . . . . . . . .22.4 Cummins (I){2} (405.95) 400.50,410,396.90,408.50XD [40075,663] . . . . . . . .18.9 [N](406.15) 403,409.80,392.25,408.70 [100988,2543] . . . . . . . . . . . . . . .18.9 Dabur (I){1} (165.05) 165.50,166,163.50,164.70 [28008,400] . . . . . . . . . . . . . .32.2 [N](165.30) 164.05,166.25,164.05,165.10 [151010,2136] . . . . . . . . . . . .32.2 Divi’s Lab{2} (660.95) 666,668,651,654.25 [33654,1129] . . . . . . . . . . . . . . . . .30.8 [N](661.95) 666.80,668.50,651,654 [117129,4950] . . . . . . . . . . . . . . . . . .30.8 DLF{2} (382.60) 384,386.05,378.25,382.65 [1895878,27487] . . . . . . . . . . . . . .39.0 [N](383.05) 383,386.50,378,382.50 [8557467,106114] . . . . . . . . . . . . . . .39.0 Dr.Reddy’s{5} (1100.45) 1085,1108,1085,1104.20 [18458,588] . . . . . . . . . . . . . .— [N](1103.05) 1109,1109,1089.20,1103.70 [191760,7051] . . . . . . . . . . . . . . .— Educomp Solu{2} (735.35) 737,751,734,737.30 [435031,13756] . . . . . . . . . . .39.7 [N](735.90) 737,750.80,733.70,737.25 [1400225,42435] . . . . . . . . . . . . .39.7 EIH{2} (139.05) 138.20,140.60,137.10,138.10 [95479,757] . . . . . . . . . . . . . . . .49.1 [N](139.20) 139.60,140.50,137.20,137.95 [299913,2150] . . . . . . . . . . . .49.1
W
. .1680/224 . .1682/221 . . .834/344 . . .834/343 . . .928/443 . . .929/444 . .2364/326 . .2360/347 . . . .483/119 . . . .480/119 . .1054/330 . .1050/335 . . . .144/37 . . . .143/37 . . .610/215 . . . .611/217 . . . . .112/60 . . . . .112/60 . . . .125/37 . . . .125/38 . . .625/350 . . .625/347 . . .386/145 . . .386/145 . . . . .56/13 . . . . .56/13 . .1734/681 . .1740/700 . .1063/279 . .1064/278 . .1800/353 . .1789/360 . . .568/210 . . .590/209 . . . .167/42 . . . .168/38 . .1220/306 . .1220/306 . .1945/663 . .1930/662 . . . .307/69 . . . .308/70 . . .495/230 . . .518/271 .2550/1250 .2550/1253 . .1449/260 . .1547/250 . . . .298/90 . . . .299/89 . . .563/181 . . .564/170 . . .475/180 . . .474/179 .4691/2840 .4728/2800 . . .648/329 . . .646/330 . . .699/233 . . .699/233
. . .301/143 . . .301/140 . . .437/144 . . .438/144 . . .594/292 . . .593/287 . . . .164/30 . . . .164/30 . . .544/146 . . .545/145 . . .410/180 . . .412/183 . . . . .76/32 . . . . .75/33 . . . .270/78 . . . .270/78 . . .363/172 . . .363/171 . . .735/380 . . .738/374 . .1265/595 . .1355/594 . . .480/156 . . .494/155 . . .415/100 . . . .430/99 . . .418/148 . . .425/148 . . . .172/78 . . . .172/77 . . .692/383 . . .700/378 . . .491/124 . . .520/124 . . .1158/357 . . .1158/355 . .1017/266 . .1020/268 . . . .154/85 . . . .155/85
Essar Oil (139.75) 142.95,142.95,137.10,137.85 [841531,8010] . . . . . . . . . . . .— [N](139.95) 140,141,137.25,137.80 [2213752,21589] . . . . . . . . . . . . . . . . .— Everest Kant{2} (148.20) 149,149.95,146,146.50 [105619,1775] . . . . . . . . . . .21.0 [N](148.35) 148.35,150,145.80,146.45 [307198,5727] . . . . . . . . . . . . . . .21.0
Exide Inds.{1} (112.95) 113.50,114.25,112.75,113.65 [71387,746] . . . . . . . . . .22.9 [N](113.35) 113.35,114.50,112.15,113.65 [560279,2400] . . . . . . . . . . . . .22.9 Federal Bank (246) 248,248,244.05,244.90 [51843,491] . . . . . . . . . . . . . . . . .7.5 [N](245.90) 247,247.85,243,244.55 [235287,2854] . . . . . . . . . . . . . . . . . .7.5 Finan.Techno{2} (1371.10) 1370,1388,1365.60,1372.40 [13386,1130] . . . . . .17.5 [N](1375.20) 1383.60,1392.95,1369,1377.95 [38776,2744] . . . . . . . . . . .17.5 Fortis Healt (117.75) 118,118.55,115,116.55 [130536,1474] . . . . . . . . . . . . .87.0 [N](118.15) 119.70,119.70,115.50,116.45 [308474,4075] . . . . . . . . . . . . .86.9 GAIL (I) (414.35) 415,425.65,414,419.40 [165362,2912] . . . . . . . . . . . . . . . .23.6 [N](416.30) 415.90,425.60,414.55,419.65 [1668988,16404] . . . . . . . . . .23.6 GE Shipping (272.35) 271,273.70,266.25,268.50 [64806,1000] . . . . . . . . . . .5.7 [N](272.15) 274,274,266,268.35 [309668,4833] . . . . . . . . . . . . . . . . . . . . .5.7 GlaxoSmith.C (1354.20) 1360,1360,1330.10,1340 [8687,100] . . . . . . . . . . .24.3 [N](1356.90) 1352.50,1359,1330,1338.90 [8938,367] . . . . . . . . . . . . . . .24.3 GlaxoSmith.P (1615.90) 1610,1620,1597,1601.40 [2501,211] . . . . . . . . . . . .22.0 [N](1618.50) 1615,1628.90,1597,1603.15 [7080,871] . . . . . . . . . . . . . . .22.0 Glenmark Pha{1} (266.20) 267,268.10,260.50,265.95 [222879,3053] . . . . . . .70.2 [N](266.95) 260.20,268.40,260.20,265.90 [617619,11598] . . . . . . . . . . . .70.2 GMR Infrast.{1} (69.50) 70,70.20,68.40,68.70 [651146,3732] . . . . . . . . . . . . .149.3 [N](69.50) 69.15,70.10,68.40,68.80 [2689399,14847] . . . . . . . . . . . . . .149.6 Godrej Cons.{1} (278.75) 281.45,281.45,270.90,273.85 [59798,465] . . . . . . . .32.2 [N](279.95) 281,281,271,274.40 [316613,2135] . . . . . . . . . . . . . . . . . . . .32.3 Godrej Inds.{1} (176.30) 178,182.80,176.20,179.95 [463243,5942] . . . . . . . . .46.7 [N](176.40) 177.40,182.80,176.70,180 [846149,15141] . . . . . . . . . . . . . .46.8 Grasim Inds. (2395) 2413,2478,2400,2463 [31376,1950] . . . . . . . . . . . . . . . .7.8 [N](2400.95) 2400,2474,2388.40,2457.55 [158215,9455] . . . . . . . . . . . . .7.8 GTL (367.75) 368.95,370.95H,367,370.05 [57401,535] . . . . . . . . . . . . . . . . .22.2 [N](367.65) 368.95,371H,367,370.25 [98502,924] . . . . . . . . . . . . . . . . . .22.2 GTL Infrast. (37.65) 38,38,36.90,37.20 [1097489,2165] . . . . . . . . . . . . . . . . . .— [N](37.70) 37.70,37.80,36.85,37.25 [2215037,8694] . . . . . . . . . . . . . . . . . .— Guj.Mineral{2} (139.40) 140,140.25,136.90,138.15 [255905,2872] . . . . . . . . . .16.7 [N](139.50) 139.80,140.05,136.60,138.35 [410246,4776] . . . . . . . . . . . .16.7 Guj.NRE Coke (62.70) 62,66.30,62,65.75+ [1568783,7655] . . . . . . . . . . . . . . .— [N](62.35) 62.85,66.45,62.35,65.60 [5113710,23677] . . . . . . . . . . . . . . . . .— Guj.St.Petro (96.75) 96.10,97.50,95.30,95.60 [534917,3544] . . . . . . . . . . . .21.2 [N](96.90) 96.60,97.40,95.30,95.65 [1489295,7686] . . . . . . . . . . . . . . . .21.3
GVK Power{1} (47.90) 48,48.35,46.45,46.95 [4126372,9137] . . . . . . . . . . . . .65.2 [N](47.95) 47.75,48.30,46.45,46.95 [12001031,35227] . . . . . . . . . . . . . .65.2 HCC{1} (137.20) 137,139.90,136.10,136.55 [228784,3137] . . . . . . . . . . . . . . .42.1 [N](137.20) 137.70,139.80,136.15,136.65 [931826,11025] . . . . . . . . . . . .42.2 HCL Techno.{2} (347.05) 349.50,351,340.25,342.15 [109323,1940] . . . . . . . .22.1 [N](347.50) 348,351,340.55,342.65 [660894,13225] . . . . . . . . . . . . . . . .22.1 HDFC (2693.15) 2691,2714.90,2667,2682.95 [67846,2810] . . . . . . . . . . . . . .30.6 [N](2695.25) 2707.50,2719.95,2665.85,2679.80 [876034,19934] . . . . . .30.5 HDFC Bank (1783.35) 1772,1783,1750,1756.10 [40805,1761] . . . . . . . . . . .31.4 [N](1785.15) 1784.70,1800,1749,1757.30 [807112,19265] . . . . . . . . . . . .31.4 HDIL (342.90) 345,351.30,338.80,348.05 [2908517,32989] . . . . . . . . . . . . . .23.9 [N](343.20) 337.05,351.45,337.05,347.70 [8507051,100785] . . . . . . . . .23.9 Hero Honda{2} (1670.80) 1650,1695.70,1650,1685.45 [34068,1250] . . . . . . . .18.7 [N](1670.10) 1673,1697.80,1662.25,1684.40 [582489,8565] . . . . . . . . . .18.7 Hind.Copper{5} (264.65) 265,269.95,259.10,261.25 [30554,755] . . . . . . . . . . . .— Hind.Unileve{1} (272.80) 274,274,266.80,268 [252182,1733] . . . . . . . . . . . . .29.5 [N](272.95) 273.90,274,266.30,267.55 [2033309,14720] . . . . . . . . . . . . .29.4 Hind.Zinc (1187) 1180,1195,1155,1186.45 [41672,1721] . . . . . . . . . . . . . . . .19.5 [N](1186.55) 1200,1200,1156,1185.80 [210795,6066] . . . . . . . . . . . . . . .19.5 Hindalco{1} (141.80) 140.80,145,139.45,140.10 [1876083,6270] . . . . . . . . . . .16.8 [N](141.90) 141.90,145.25,139.50,140.15 [10820961,34770] . . . . . . . . .16.8 HPCL (397.85) 404.60,406.70,394.50,397 [162629,2325] . . . . . . . . . . . . . . . .2.6 [N](397.15) 403.10,407,394.35,396.25 [1229898,13657] . . . . . . . . . . . . . .2.6 ICICI Bank (863.25) 859.90,868.75,848.15,850.40 [901460,17010] . . . . . . . .24.1 [N](864.50) 858.50,868.65,847.50,850.70 [4110283,70145] . . . . . . . . . . .24.1 IDBI Bank (132.55) 130.70,133.25,128,128.95 [1999285,12171] . . . . . . . . . . .9.7 [N](132.60) 131,133.15,128,129 [6160869,41713] . . . . . . . . . . . . . . . . . . .9.7 Idea Cellulr (59.65) 59.55,59.65,57.95,58.20 [1348059,5571] . . . . . . . . . . . .17.9 [N](59.75) 59.70,59.70,58,58.30 [5934868,20777] . . . . . . . . . . . . . . . . . .17.9 IDFC (164.25) 163.50,165.50,161,161.55 [1118856,5659] . . . . . . . . . . . . . . .24.2 [N](164.35) 164,165.50,161.25,161.70 [4467036,22111] . . . . . . . . . . . . .24.2 IFCI (55) 55.10,55.30,53.50,54 [6159241,14190] . . . . . . . . . . . . . . . . . . . . . . .7.7 [N](55.05) 55,55.35,53.35,54 [19345881,53338] . . . . . . . . . . . . . . . . . . . .7.7 India Cement (116.30) 119.90,121.10,118,120.40+ [810078,6706] . . . . . . . . .7.8 [N](116.30) 116.80,121.20,116.80,120.40 [2959629,25912] . . . . . . . . . . . .7.8 India Info.{2} (135.75) 136.40,136.40,132.65,133.30 [208688,2200] . . . . . . . .23.1 [N](135.80) 135.50,136.35,133.05,133.75 [816764,8735] . . . . . . . . . . . .23.2 Indiabulls F{2} (132.90) 133,136.90,131.95,133.75 [410371,4374] . . . . . . . . . . .— [N](133.60) 132.75,136.25,131.85,134.05 [1252762,14333] . . . . . . . . . . . .— Indiabulls R{2} (217.30) 217,220.70,215.35,217.10 [664848,7099] . . . . . . . .297.4 [N](217.65) 219,222,215.10,217.50 [2772339,30946] . . . . . . . . . . . . . .297.9 Indian Bank (172.75) 174.50,174.50,169.50,170.70 [26600,564] . . . . . . . . . .5.1 [N](173.35) 172.10,173.85,169.60,170.70 [382946,5779] . . . . . . . . . . . . .5.1 Indian Hotel{1} (94.85) 94.85,95.15,92.10,93.40 [312654,1714] . . . . . . . . . . . .44.9 [N](94.65) 94.70,95.20,92.10,93.40 [1110555,8046] . . . . . . . . . . . . . . . . .44.9 Indian Oil C (324) 324,329,322,324.35 [94144,2234] . . . . . . . . . . . . . . . . . . . .5.8 [N](324) 325.05,328.90,321.80,324.45 [450021,10738] . . . . . . . . . . . . . . .5.8 Indian Ov.Bk (112.15) 112,112.75,110.55,110.80 [90687,1078] . . . . . . . . . . . .5.1 [N](112.15) 112,112.80,110.55,110.85 [559950,4820] . . . . . . . . . . . . . . . . .5.1 Infosys Tech{5} (2454.75) 2455,2519.90H,2448,2498 [233629,10983] . . . . . .22.6 [N](2460.75) 2455,2518H,2450.05,2498.75 [1148722,39034] . . . . . . . . .22.7 IRB Infrast. (245.25) 246.90,247.40,241.70,244 [108217,1681] . . . . . . . . . . .34.9 [N](246.30) 246.10,246.85,241.60,244.85 [300373,5188] . . . . . . . . . . . .35.0 Ispat Inds. (20.20) 20.30,20.35,19.95,20 [3534881,3365] . . . . . . . . . . . . . . . . .— [N](20.20) 20.20,20.35,20,20.05 [7420233,9769] . . . . . . . . . . . . . . . . . . . . .— ITC{1} (252.45) 251.30,254.85,232,248.70 [245428,2679] . . . . . . . . . . . . . . . .26.2 [N](252.75) 253.50,254.95,249.50,250.70 [2533229,22265] . . . . . . . . . .26.4 IVRCL Infras{2} (364.90) 362,367.70,347.20,348.70- [356818,6331] . . . . . . . .66.9 [N](364.90) 365.50,367.45,346.70,348.45 [3157705,42681] . . . . . . . . . .66.9 Jai Corp{1} (212.60) 211.25,213.75,208.15,209.05 [104778,1951] . . . . . . . . .232.3 [N](212.50) 213.95,214,208.10,208.90 [196234,4691] . . . . . . . . . . . . . .232.1
W . . . .194/60 . . . .193/56 . . . .238/84 . . . .239/84
. . . .124/35 . . . .125/34 . . . .270/111 . . . .270/114 . .1622/404 . .1625/382 . . . .126/62 . . . .126/60 . . .432/186 . . .432/186 . . .316/142 . . .316/143 . .1465/515 . .1457/452 .1716/1035 .1719/1000 . . . .332/119 . . . .332/119 . . . . .92/31 . . . . .92/31 . . . .304/111 . . . .304/111 . . . .219/49 . . . .219/48 .2938/1070 .2940/1056 . . .371/195 . . .371/195 . . . . .50/28 . . . . .50/28 . . . .149/31 . . . .149/31 . . . . .71/17 . . . . .71/17 . . . .104/26 . . . .105/26
. . . . .54/17 . . . . .54/17 . . . .150/29 . . . .150/29 . . . .358/89 . . . .359/87 . .2875/1116 . .2866/1119 . .1836/774 . .1839/774 . . . .411/63 . . . . .411/63 . .1798/747 . .1809/751 . . . .328/82 . . . .306/211 . . . .307/211 . .1250/303 . .1384/308 . . . .150/37 . . . .150/37 . . .425/235 . . .426/235 . . .984/253 . . .980/252 . . . .140/40 . . . .139/40 . . . . .92/41 . . . . .92/41 . . . .180/44 . . . .179/44 . . . . .61/16 . . . . .62/16 . . . .180/91 . . . .180/91 . . . .173/40 . . . .174/40 . . . .224/81 . . . .225/81 . . . .298/83 . . . .299/83 . . . .196/64 . . . .196/64 . . . . .98/34 . . . . .98/34 . . .395/188 . . .348/177 . . . .141/38 . . . .141/38 .2520/1065 .2518/1065 . . . .280/77 . . . .280/77 . . . . . .29/9 . . . . . .29/8 . . .271/156 . . .271/156 . . . .425/82 . . . .425/83 . . . .350/59 . . . .363/57
m Jain Irrig. (860.50) 871,873,836.60,844.10 [20187,737] . . . . . . . . . . . . . . . . .38.7 [N](863.50) 866,873.95,842.60,848.35 [57794,2940] . . . . . . . . . . . . . . . .38.9 Jaiprak.Asso{2} (229.45) 228.50,232.85,227.15,228.25 [1244862,11719] . . . .16.6 [N](229.55) 229,233,227.25,228.30 [6491401,51672] . . . . . . . . . . . . . . .16.6 Jaiprak.Hydr (75.35) 75.80,75.95,74.20,74.60 [616201,3843] . . . . . . . . . . . .30.4 [N](75.60) 75.80,75.90,74.10,74.80 [2133212,12494] . . . . . . . . . . . . . . .30.5 Jet Airways (576.10) 577,583.80,566,570.50 [239292,5573] . . . . . . . . . . . . . .— [N](576.85) 590.40,590.40,566.05,570.10 [924314,24004] . . . . . . . . . . . . .— Jindal Steel{1} (745.15) 748.95,748.95,720.60,724.55 [590512,12152] . . . . . .52.3 [N](744.85) 746,746,719.15,723.55 [2815846,45260] . . . . . . . . . . . . . . .52.2 JSW Steel (975.90) 980,988.50,952.25,972.30 [301847,8372] . . . . . . . . . . .55.3 [N](978.90) 980,988.65,967.50,974.90 [1501129,32938] . . . . . . . . . . . . .55.4 Jubilant Org{1} (341.85) 342,345,336,337.50 [35094,1000] . . . . . . . . . . . . . . .45.9 [N](343.60) 343.60,344.90,336,338.20 [134681,3876] . . . . . . . . . . . . . . .46.0 Kotak Mah.Bk (800.85) 806,838,792.10,797.50 [59727,1959] . . . . . . . . . . . .30.8 [N](802.85) 799.50,808.50,795.05,798.30 [399127,11632] . . . . . . . . . . . .30.8 Koutons Retl (358.25) 355.90,361,345,347.10- [31003,819] . . . . . . . . . . . . .12.6 [N](357.90) 356.50,359.20,345.05,346.55 [48493,1433] . . . . . . . . . . . . .12.6 KSK Energy V (201.75) 202,203.85,200,200.50 [20167,430] . . . . . . . . . . . .81.2 [N](201.55) 201.30,203.90,200.05,200.80 [43930,1538] . . . . . . . . . . . . .81.3 L&T{2} (1686.05) 1683.90,1712,1672.95,1700.45 [350769,12132] . . . . . . . . . .21.2 [N](1690.65) 1680,1713.95,1673.10,1699.95 [1306450,38327] . . . . . . . .21.2 Lanco Infrat (584.75) 585,604H,580.20,597.95 [429470,8913] . . . . . . . . . . .34.9 [N](586.90) 584.70,604.60H,580.40,597.80 [1655332,33852] . . . . . . . . .34.9 LIC Hsg.Fin. (810.85) 812,816,792,795.05 [198698,5679] . . . . . . . . . . . . . . .12.9 [N](811) 811,818,791.50,795 [736403,20531] . . . . . . . . . . . . . . . . . . . . . .12.9 Lupin (1444.30) 1448,1448,1408,1441.55 [14644,939] . . . . . . . . . . . . . . . . .22.4 [N](1447.30) 1450,1452,1375,1446.10 [110368,6926] . . . . . . . . . . . . . . .22.5
M&M (1029.85) 1030,1059,1028.50,1037.20 [180250,3894] . . . . . . . . . . . . .18.5 [N](1029.45) 1028,1059.95,1028,1039.90 [723927,15797] . . . . . . . . . . .18.6 M&M Financ (315.25) 315,315,304.10,310.05 [19342,562] . . . . . . . . . . . . . .11.1 [N](315.10) 315.10,315.10,304,310.10 [14684,664] . . . . . . . . . . . . . . . . .11.1 Madras Cem.{1} (113.55) 116.45,119.50,116,116.70 [437130,1913] . . . . . . . . . .6.3 [N](113.45) 116.45,119.60,116.20,117.10 [344341,4640] . . . . . . . . . . . . . .6.3 Marico{1} (103.65) 103.70,106,101.50,102.25 [50753,694] . . . . . . . . . . . . . . . .29.1 [N](103.70) 105.60,105.95,101.75,102.40 [185057,2478] . . . . . . . . . . . .29.2 Maruti Suzuk{5} (1586.90) 1565,1624,1565,1603.75 [94747,4186] . . . . . . . . .28.8 [N](1591.75) 1595,1625,1586.50,1609.45 [497722,20350] . . . . . . . . . . .28.9 Max (I){2} (217.75) 217.75,220.10,213.55,214.55 [53857,1148] . . . . . . . . . . . . . .— [N](218.50) 218.20,220.95,212.55,213.75 [182091,3964] . . . . . . . . . . . . . .— MMTC (33789.30) 33700,40000H,33700,35766.55 [4389,3133] . . . . . . . . . . . .—
Moser-Baer (85.90) 86,86.45,84.15,84.50 [236299,1862] . . . . . . . . . . . . . . . . .— [N](85.90) 86.10,86.40,84.05,84.60 [1024792,9328] . . . . . . . . . . . . . . . . . .— Mphasis (697.50) 702,705.80,694,696.05 [81133,2047] . . . . . . . . . . . . . . . . .18.7 [N](697.65) 701.10,705,694.15,696.20 [409875,8356] . . . . . . . . . . . . . . .18.7 MRPL (77.25) 78.95,78.95,76,76.80 [413344,2159] . . . . . . . . . . . . . . . . . . . .14.6 [N](77.35) 76.95,78,75.90,76.75 [1219235,6810] . . . . . . . . . . . . . . . . . . .14.6 MTNL (75.90) 76,78,74.30,74.65 [594888,3428] . . . . . . . . . . . . . . . . . . . . . . . .— [N](75.95) 77.25,77.95,74.25,74.55 [1830568,11000] . . . . . . . . . . . . . . . . .— Mundra Port (568.40) 562,574.80,554,564.30 [62220,2213] . . . . . . . . . . . . .37.8 [N](568.55) 564.10,575,554,566.05 [86111,3981] . . . . . . . . . . . . . . . . . . .38.0 Nagar.Const.{2} (150.90) 151,157.40,151,156.05+ [438301,3567] . . . . . . . . . .25.6 [N](150.90) 151,157.85,149.20,156.60 [1914789,19028] . . . . . . . . . . . . .25.7 National Alu (383.50) 377,387.40,376.25,380 [15518,337] . . . . . . . . . . . . . .41.6 [N](383.30) 381,387.90,358.70,381.85 [56169,1559] . . . . . . . . . . . . . . . .41.8 Nestle (I) (2614.50) 2622,2630,2590,2619.75 [13991,624] . . . . . . . . . . . . . . .38.1 Neyveli Lign (150.60) 151,152,148.10,148.50 [153182,2072] . . . . . . . . . . . .28.4 [N](150.65) 151,152,148,148.40 [495277,8001] . . . . . . . . . . . . . . . . . . . .28.4 NMDC{1} (417.95) 427.95,430,417,418.55 [150804,3078] . . . . . . . . . . . . . . . .41.6 [N](419.55) 422,428,417,417.60 [211615,5594] . . . . . . . . . . . . . . . . . . . .41.5 NTPC (209.05) 209,210.50,207.50,207.95 [456499,2443] . . . . . . . . . . . . . . .19.7 [N](209.10) 209.70,210.30,207.60,208 [2043701,10040] . . . . . . . . . . . . .19.7 ONGC (1189.90) 1194.70,1217,1190.10,1201.85 [110406,4685] . . . . . . . . . .17.6 [N](1189.60) 1192,1217,1190,1203.10 [656616,18493] . . . . . . . . . . . . . .17.6 Opto Circuit (216.45) 216.45,217.70,211.10,212.15 [124872,1652] . . . . . . .16.6 [N](216.50) 216.50,217.50,211.10,212.15 [288957,5528] . . . . . . . . . . . . .16.6 Oracle Finl.{5} (2146.30) 2126,2169.85,2101.05,2116.05 [9562,761] . . . . . . . .24.1 [N](2149.40) 2147,2164,2095.10,2109.35 [50897,2634] . . . . . . . . . . . . .24.0 Oriental Bnk (263.60) 258,263.80,247.25,249.20- [216549,3424] . . . . . . . . . .6.4 [N](264.50) 265,265,247.05,249.05 [1327356,18476] . . . . . . . . . . . . . . . .6.4 P&G Hygiene (1760.30) 1759.85,1759.85,1737,1750.60 [2254,175] . . . . . . .31.4 [N](1767.40) 1741.10,1774,1741,1751.95 [1706,230] . . . . . . . . . . . . . . .31.4 Pantaloon Re{2} (357.70) 357.70,369.90,352.30,354.65 [43004,1296] . . . . . .49.3 [N](357.05) 352.10,362.50,352.10,354.45 [249986,4177] . . . . . . . . . . . .49.3 Petronet LNG (72.85) 72.90,73.85,71.90,72.20 [277260,2049] . . . . . . . . . . .12.9 [N](73.10) 73,73.70,72,72.30 [757505,6801] . . . . . . . . . . . . . . . . . . . . . .12.9 Piramal HC{2} (409.95) 411,411,398.05,399.70 [48583,1389] . . . . . . . . . . . . .22.8 [N](411.10) 411,411,398,400.15 [107813,3441] . . . . . . . . . . . . . . . . . . . .22.8 Power Financ (261.15) 259,262.55,256,258.10 [55254,1067] . . . . . . . . . . . .15.4 [N](261.75) 261.10,262.95,256,258.65 [329449,4585] . . . . . . . . . . . . . . .15.4 Power Grid (105.05) 105,105.90,104.65,105.15 [312934,1667] . . . . . . . . . . .22.2 [N](105.15) 105,105.75,104.55,104.95 [820610,6435] . . . . . . . . . . . . . . .22.1 Praj Ind.{2} (97.50) 97.55,98.50,94.50,95.35 [758043,4354] . . . . . . . . . . . . . . .12.5 [N](97.60) 98,98.10,94.65,95.40 [1951121,17701] . . . . . . . . . . . . . . . . . .12.5 PTC India (104.90) 106,106,103.75,104 [141275,1165] . . . . . . . . . . . . . . . . .29.5 [N](104.95) 105.50,105.90,103.70,104.05 [490505,4647] . . . . . . . . . . . .29.6 Pun.Nat.Bank (917.10) 916,923.80,909.35,915.30 [49892,1408] . . . . . . . . . .7.9 [N](917.45) 917.45,923.70,911.85,914.40 [365976,6453] . . . . . . . . . . . . . .7.9 Punj Lloyd{2} (205.80) 207.25,208.65,203.65,205.05 [1071721,7700] . . . . . . . .— [N](205.95) 204.75,208.55,203.60,205 [3247247,26685] . . . . . . . . . . . . . . .— Ranbaxy Lab.{5} (496.95) 497.15,519.90H,495,517.05 [614027,8821] . . . . . . . .— [N](497.75) 497,519.70H,495,516.80 [2142787,37699] . . . . . . . . . . . . . . . .— RCF (75.75) 76.10,76.10,73.90,74.20 [445795,2625] . . . . . . . . . . . . . . . . . . .20.9 [N](75.80) 75.95,75.95,74,74.20 [659062,5665] . . . . . . . . . . . . . . . . . . . .20.9 REI Agro{1} (47.20) 47.20,47.20,46.05,46.20 [209233,1451] . . . . . . . . . . . . . .14.0 [N](46.95) 46.80,47.30,46.05,46.25 [251582,2215] . . . . . . . . . . . . . . . . .14.0 Rel Capital (846.80) 849.70,858.90,842,845.85 [555403,14551] . . . . . . . . . .25.3 [N](848.15) 850,858.70,841,845.60 [1495547,38286] . . . . . . . . . . . . . . .25.3 Relian.Infra (1065.90) 1071.85,1081.25,1053,1057.80 [377399,11779] . . . . .19.6 [N](1067.40) 1070,1084.40,1052.25,1057.70 [1286253,31600] . . . . . . . .19.6 Reliance Com{5} (183.65) 181.10,186.50,180.55,181.20 [2305471,21062] . . . .7.1 [N](183.60) 183.25,186.50,180.20,181.30 [6060285,66011] . . . . . . . . . . . .7.1
W . . .930/300 . . .932/299 . . . .270/60 . . . .270/58 . . . .104/24 . . . .104/24 . . .606/115 . . . .606/115 . . .778/121 . . .750/121 . .1051/161 . .1052/160 . . . .365/85 . . . .363/84 . . .850/208 . . .850/208 . . .549/324 . . .549/308 . . .250/147 . . .242/147 . .1800/557 . .1729/556 . . . .604/99 . . . .605/98 . . .915/178 . . .912/178 . .1462/525 . .1465/530
. .1099/247 . .1094/247 . . .322/175 . . .324/175 . . . .128/58 . . . .129/58 . . . . .113/50 . . . . .113/51 . .1740/428 . .1737/478 . . . .254/96 . . . .254/97 40000/9600
. . . .115/41 . . . . .115/40 . . .796/139 . . .797/138 . . . .102/35 . . . .102/35 . . . .124/59 . . . .124/59 . . .705/287 . . .705/286 . . . .184/34 . . . .184/34 . . .408/172 . . .408/171 .2739/1335 . . . .163/58 . . . .163/58 . . .489/140 . . .475/140 . . .233/166 . . .233/165 . .1274/614 . .1278/588 . . . .226/76 . . . .226/70 . .2300/425 . .2300/416 . . . .296/95 . . . .296/95 . .1899/670 . .1900/665 . . .372/105 . . .372/106 . . . . .82/32 . . . . .85/32 . . .428/164 . . .430/164 . . .272/120 . . .272/120 . . . .128/71 . . . .130/68 . . . .123/45 . . . .123/45 . . . .117/55 . . . . .117/55 . . .943/286 . .1000/286 . . . .299/67 . . . .299/66 . . .520/133 . . .520/133 . . . . .90/30 . . . . .90/30 . . . .104/38 . . . .104/38 . .1066/274 . .1068/274 . .1404/428 . .1405/428 . . .359/131 . . .362/131
m
W
Reliance Ind (1068.95) 1064.95,1083.50,1059.55,1066.35 [721172,20720] .24.0 [N](1071.25) 1068,1084,1063,1067.95 [3182678,70701] . . . . . . . . . . . . .24.0 Reliance N.R{5} (70.15) 70.15,70.95,69.10,69.40 [1880060,9166] . . . . . . . . .157.7 [N](70.10) 70,70.70,69.15,69.45 [4781158,23276] . . . . . . . . . . . . . . . . .157.8 Reliance Pow (147.65) 147.75,148.70,146.20,146.65 [406476,6358] . . . . . .58.2 [N](147.85) 149,149,146.10,146.55 [969893,16477] . . . . . . . . . . . . . . . .58.2 Religare Ent (394.10) 391.15,394.80,385,389.10 [39400,185] . . . . . . . . . . . . .— [N](394.05) 392.20,394,388,389.80 [113015,985] . . . . . . . . . . . . . . . . . . . .— Rolta (I) (184.15) 184,187.30,181.70,183.40 [389004,3918] . . . . . . . . . . . . . . .9.1 [N](184.40) 184.40,187.55,181.50,184.10 [1513490,15733] . . . . . . . . . . .9.1 Rural Elect. (251.15) 254,255.55,250,251.55 [141910,2520] . . . . . . . . . . . . .12.9 [N](251.55) 252.90,255.50,250.60,252.15 [516326,9930] . . . . . . . . . . . .12.9 SAIL (210.65) 211,213.95,210,212.95 [1062741,8836] . . . . . . . . . . . . . . . . . .16.5 [N](210.95) 210,213.90,210,213 [5469024,46095] . . . . . . . . . . . . . . . . . .16.5 SBI (2265.75) 2259.90,2285,2245,2248.30 [499633,19804] . . . . . . . . . . . . . .11.2 [N](2266.45) 2267,2284.95,2240.65,2246.90 [1959484,64145] . . . . . . . .11.2 Sesa Goa{1} (375.35) 372,375.85,366.75,368.90 [654982,8961] . . . . . . . . . . .18.8 [N](376.65) 374.90,378,366.65,369.25 [2124555,30087] . . . . . . . . . . . . .18.8 Shipp.Corpn. (145.70) 144.50,145.80,143,145.10 [59876,415] . . . . . . . . . . .11.4 [N](145.85) 147.70,147.70,143.65,145.05 [271765,2097] . . . . . . . . . . . . .11.4 Shree Renuka{1} (212.75) 212.55,213.80,204.40,208.40 [1347685,10072] . . .41.5 [N](212.85) 212,213.75,203.95,208.20 [6806950,41308] . . . . . . . . . . . . .41.5 Shriram Tran (466.30) 451.50,469.80,432.75,447.90- [20077,551] . . . . . . . .14.0 [N](465.80) 465,472.80,445.10,448.15 [374415,1931] . . . . . . . . . . . . . . .14.0 Siemens{2} (544.75) 544,564.90,541.20,559.90 [200857,5454] . . . . . . . . . . . .18.1 [N](546.05) 545,565,539.60,560 [911477,22778] . . . . . . . . . . . . . . . . . . .18.1 Sintex Inds.{2} (247.30) 248.50,251.95,244.05,245.50 [43397,1261] . . . . . . . .11.1 [N](247.25) 247.30,251.90,244.25,245.55 [147959,5357] . . . . . . . . . . . . .11.1 Spice Comm. (63.20) 63.85,64.75,62.65,62.90 [65873,659] . . . . . . . . . . . . . . .— [N](63.90) 64.20,64.45,62.80,63.20 [149530,1492] . . . . . . . . . . . . . . . . . . .— Sterl.Biotec{1} (94.95) 95,95.80,94.10,94.65 [511614,552] . . . . . . . . . . . . . . . .13.5 [N](95) 95,95.85,94.35,94.60 [688856,1864] . . . . . . . . . . . . . . . . . . . . . .13.5 Sterl.Inds.{2} (841.15) 838,851,833.15,837.25 [207675,5610] . . . . . . . . . . . . .25.7 [N](841.85) 830.10,851.55,830.10,838.80 [1136466,24513] . . . . . . . . . . .25.7 Sun Pharma.{5} (1441.45) 1459,1476,1445.50,1450.75 [15965,1258] . . . . . . .21.1 [N](1442.25) 1442,1478,1442,1455.35 [136828,10004] . . . . . . . . . . . . . .21.2 Sun TV Netwk{5} (327.70) 330.60,330.60,326.10,328.25 [7424,205] . . . . . . . .27.2 [N](327.95) 327.70,332,326.15,328.10 [34875,963] . . . . . . . . . . . . . . . . .27.1 Suzlon Enrgy{2} (83.10) 83.85,84.35,82.10,82.55 [6368915,25420] . . . . . . . .12.7 [N](83.15) 83.85,84.40,82.10,82.55 [23129333,86417] . . . . . . . . . . . . . .12.7 Syndicate Bn (96.15) 95.50,97,94.15,95.35 [97604,882] . . . . . . . . . . . . . . . . .5.0 [N](96.15) 97,97,94.10,95.20 [973154,5387] . . . . . . . . . . . . . . . . . . . . . . .5.0 Tata Chem (314.95) 315.90,317.80,313,315 [46113,806] . . . . . . . . . . . . . . . .14.0 [N](315) 314.50,318,313.60,315.45 [142406,2184] . . . . . . . . . . . . . . . . .14.0 Tata Comm. (352.25) 354.80,354.80,338.25,340.35- [153100,2906] . . . . . . .22.7 [N](352.35) 353.35,353.35,339,340.30 [527862,10723] . . . . . . . . . . . . . .22.7 Tata Consult{1} (704.15) 703,711.85,700,705.45 [147621,3855] . . . . . . . . . . .23.5 [N](706.10) 701,711.95,700.85,705.10 [1504421,20678] . . . . . . . . . . . . .23.5 Tata Motors (710.95) 730,730,701.05,710.45 [426148,8331] . . . . . . . . . . . . .17.8 [N](711.90) 710,720,707.10,710.55 [2016211,36982] . . . . . . . . . . . . . . . .17.8 Tata Power (1360.15) 1360,1374,1338.25,1347.95 [58912,1686] . . . . . . . . .31.0 [N](1360.70) 1362.85,1374.45,1341,1347.40 [325143,8836] . . . . . . . . . .31.0 Tata Steel (545.60) 540.90,552.90,540.10,544.65 [2129892,32380] . . . . . . . . .— [N](546.55) 546.55,553,539.25,544.50 [6548575,107509] . . . . . . . . . . . . . .— Tata Tea (939.75) 940,946.80,925.60,935.45 [11402,429] . . . . . . . . . . . . . . . .8.6 [N](945) 940.10,947.90,926.30,934.10 [61032,1753] . . . . . . . . . . . . . . . . .8.6 Tata Teleser (27.40) 27.50,27.50,26.60,26.70 [557261,2951] . . . . . . . . . . . . . .— [N](27.35) 27.55,27.55,26.55,26.70 [1649766,4594] . . . . . . . . . . . . . . . . . .— Tech Mahindr (1001.65) 1005.05,1014,986.05,1002.45 [61014,2289] . . . . . .16.2 [N](1002) 1002,1014.70,986.05,1003.20 [255093,7058] . . . . . . . . . . . . .16.3 Thermax{2} (580.15) 580.10,583.95,570.10,579.10 [17079,853] . . . . . . . . . . .25.8 [N](579.75) 571,584.70,570,581.80 [95600,2444] . . . . . . . . . . . . . . . . . .25.9 Titan Inds. (1336.40) 1344,1344,1291.10,1297.05 [4543,304] . . . . . . . . . . . .35.3 [N](1335.40) 1347,1369.90,1290.15,1298 [30211,2365] . . . . . . . . . . . . . .35.3 Torrent Pow (308.60) 309.90,315.75,306.25,307 [123044,2732] . . . . . . . . . .26.4 [N](308.60) 310.20,316,305.15,306.20 [190395,4747] . . . . . . . . . . . . . . .26.3 Tulip Telec. (948.20) 940,950,935.05,938.90 [7781,361] . . . . . . . . . . . . . . . . .9.6 [N](948.20) 958,958,936.25,940.15 [20574,1250] . . . . . . . . . . . . . . . . . . .9.6 Uco Bank (58.10) 58.10,58.15,56.65,56.90 [541256,2741] . . . . . . . . . . . . . . .4.7 [N](58.15) 58,58.10,56.55,56.75 [2319777,10375] . . . . . . . . . . . . . . . . . . .4.7 UltraTech Ce (860.30) 870,903H,861,898.75 [84044,2580] . . . . . . . . . . . . . . .9.2 [N](860.10) 866.20,904.90,861,899.15 [363102,8151] . . . . . . . . . . . . . . . .9.2 Union Bank (264.30) 265,268,257.55,266.50 [116741,1793] . . . . . . . . . . . . . .6.5 [N](264.95) 266,268.45,257.15,267.20 [713383,7609] . . . . . . . . . . . . . . . .6.5 Unitech{2} (86.65) 87.50,88.25,86,86.45 [7350436,26695] . . . . . . . . . . . . . . . .27.5 [N](86.65) 85.70,88.25,85.70,86.45 [34113204,114032] . . . . . . . . . . . . . .27.5 United Phos.{2} (163.60) 164.20,164.20,160,160.80 [234353,1772] . . . . . . . .16.8 [N](163.60) 163.50,163.50,160,161 [615978,5945] . . . . . . . . . . . . . . . . .16.8 United Spiri (1358.80) 1360,1369.90,1295,1319.95 [70263,2915] . . . . . . . . .49.8 [N](1358.90) 1359.10,1365.70,1280,1319.80 [359140,16441] . . . . . . . . .49.8 Videocon Ind (222.25) 222.75,226.75,220.05,221.05 [159016,2284] . . . . . .12.5 [N](222.40) 222.40,226.65,220,221.60 [223734,5226] . . . . . . . . . . . . . . .12.5 Voltas{1} (166.20) 169.30,173,167.50,170.70 [454667,4898] . . . . . . . . . . . . . .21.7 [N](165.75) 170,176.60,166,170.65 [1845011,16983] . . . . . . . . . . . . . . . .21.7 Welspun Guj.{5} (268.15) 268,269,263.85,267.25 [157314,1819] . . . . . . . . . .14.5 [N](267.70) 275,275,263.75,267.80 [631385,6961] . . . . . . . . . . . . . . . . .14.5 Wipro{2} (644.40) 650,661.90H,645,658.75 [209346,3250] . . . . . . . . . . . . . . .23.0 [N](644.40) 645.50,661.30,644.50,658.55 [1036854,14566] . . . . . . . . . .23.0 Yes Bank (255.45) 255.15,258,248.85,249.80 [305399,3688] . . . . . . . . . . . .18.8 [N](256) 257.20,257.85,248.55,249.75 [1386555,14427] . . . . . . . . . . . . .18.8
. .1245/534 . .1268/533 . . . . .112/35 . . . . .112/35 . . . .210/89 . . . .210/89 . . .543/308 . . .522/300 . . . .206/41 . . . .206/32 . . . .266/61 . . . .266/62 . . . .215/69 . . . .215/68 . .2500/894 . .2500/892 . . . .388/67 . . . .400/66 . . . .155/70 . . . .155/69 . . . .240/61 . . . .242/60 . . .475/150 . . .475/172 . . .605/186 . . .605/186 . . . .271/70 . . . .271/70 . . . . .95/26 . . . . .94/26 . . . .180/90 . . . .181/90 . . .902/234 . . .904/215 . .1600/953 . .1638/954 . . .371/136 . . .373/136 . . . .146/33 . . . .146/33 . . . .105/38 . . . . .113/38 . . .325/100 . . . .328/95 . . .651/336 . . .660/335 . . .714/220 . . .714/220 . . .739/126 . . .744/128 . .1487/602 . .1490/602 . . .600/149 . . .591/149 . .1017/513 . .1018/508 . . . . .42/19 . . . . .41/16 . .1073/204 . .1079/205 . . .650/151 . . .632/150 . .1509/668 . .1488/667 . . . .351/64 . . . .369/60 . .1250/258 . .1249/259 . . . . .62/22 . . . . .61/22 . . .903/325 . . .920/324 . . .291/115 . . . .292/115 . . . . .118/25 . . . . .117/25 . . . .186/73 . . . .185/72 . .1415/426 . .1417/426 . . . .270/82 . . . .270/81 . . . .182/31 . . . .182/31 . . . .296/49 . . . .296/45 . . .662/195 . . .665/197 . . . .278/41 . . . .278/
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STOCKS ON BSE/NSE
THE ECONOM C T MES TUESDAY 15 DECEMBER 2009 m Blue Star In (99.80) 97.50,100.85,97.50,98.55 [3264,43],Nse . . . . . . . . . . . . .8.3 BMB Music (12) 50,50H,50,50 [1000,5],T . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— BN Rathi Sec (22) 22.10,22.10,21,21 [300,3],B . . . . . . . . . . . . . . . . . . . . . . . .6.8 BNK Capital (40.95) 40.95,41.90,40.05,41.15 [624,29],B . . . . . . . . . . . . . . . . .8.2 BNR Udyog (12.47) 12.02,12.47,11.90,11.90 [1338,9],B . . . . . . . . . . . . . . . . .5.7 BOC (172.20) 176.40,176.75,170.05,170.50 [5078,163],Nse . . . . . . . . . . . . .34.0 Bodal Chem. (40.65) 41,42.65,41,41.20 [8548,35],B . . . . . . . . . . . . . . . . . . . . .— Bombay Burma (294) 295,298,281.20,287.35 [2998,50],Nse . . . . . . . . . . . .34.1 Bombay Dyein (407.20) 410,410,395,399.30 [174848,4822],Nse . . . . . . . . . .— Bombay Rayon (191.05) 191,192,188,188.80 [61055,1474],Nse . . . . . . . . .10.6 Bombay Swa.S{2} (40.30) 38.50,38.50,38.50,38.50 [50,1],B . . . . . . . . . . . . . . . .— Bombay Talki{1} (5.04) 4.80,5.29,4.79,5 [3968,9],T . . . . . . . . . . . . . . . . . . . . . . .— Borax Morarj (82.25) 84.50,84.50,78.55,79.55 [12586,104],B . . . . . . . . . . . .11.1 Borosil Glas (404.85) 400,405,400,405 [83,4],B . . . . . . . . . . . . . . . . . . . . . . . .— BPL (37.60) 37.45,38.40,36.50,36.65 [43052,252],Nse-T . . . . . . . . . . . . . . . . .— Brabourne En (8.25) 8.30,8.45,8.20,8.45 [9815,27],Nse . . . . . . . . . . . . . . . . . .— Brah.Himghar{5} (8.66) 9.20,10.39,9.20,9.28 [32697,188],B . . . . . . . . . . . . . . . .— Brahmap.Infr (75.40) 75.50,79.15,72.60,77 [6684,66],B . . . . . . . . . . . . . . . . .6.6 Brakes Auto (6.50) 6.55,6.75,6.20,6.48 [2338,11],B . . . . . . . . . . . . . . . . . . . .36.0 Brandhouse R (28.60) 28.30,28.95,28.15,28.30 [58152,424],Nse . . . . . . . . . .8.9 Brawn Pharma (18.10) 17.80,18,16.60,17.40 [3550,31],B . . . . . . . . . . . . . . .13.7 Brescon Corp (81.40) 81.90,82.40,78.10,78.55 [547,11],B . . . . . . . . . . . . . . .4.7 Bridge Secur (15.35) 14.70,16.10,14.65,16.10 [1500,4],B . . . . . . . . . . . . . . .20.9 Brigade Entp (132) 131,133.65,129.10,129.60 [146473,2782],Nse . . . . . . . .14.3 Bright Bros. (46.70) 44.55,46.80,44.55,45.55 [913,11],S . . . . . . . . . . . . . . . . .— Brijlax. Le.{1} (0.42) 0.41,0.46,0.39,0.44 [82948,64],S . . . . . . . . . . . . . . . . . . . . .— Brilliant Se (37.10) 38.65,38.65,38.65,38.65 [175,4],B . . . . . . . . . . . . . . . . . . .— Britannia (1660.35) 1660,1669.80,1635,1639.55 [1286,378],Nse . . . . . . . . .20.3 Broadcast In (18.60) 18.10,18.70,18.10,18.30 [3356,35],Nse . . . . . . . . . . . . . .— Brushman (I) (12.73) 13.05,13.36,12.57,13.19 [25595,50],S . . . . . . . . . . . . . . .— BSEL Infra. (17.30) 17.50,17.60,16.45,16.55 [341365,1113],Nse . . . . . . . . . . .3.4 BSL (26.65) 26.90,28.75H,24,28.45 [35778,293],Nse . . . . . . . . . . . . . . . . . . . .5.2 Burnpur Ceme (12.55) 12.55,13.25,12.55,13 [183664,614],Nse . . . . . . . . . . . .—
-C-
C & C Const. (236.15) 236.15,244.90,236.15,241.20 [52213,1235],Nse . . . .10.6 Cable Corp. (22.75) 21.85,24.35,21.85,23.85 [68025,190],B . . . . . . . . . . . . . . .— Calcom Visio (2.97) 2.98,3.11,2.83,3.11 [2331,9],B . . . . . . . . . . . . . . . . . . . . . .— Californ.Sof (36.05) 37.20,37.85,36,37.45 [5178,42],Nse . . . . . . . . . . . . . . . . .— Cals Refiner{1} (0.54) 0.56,0.56,0.52,0.52 [11190920,2999],B . . . . . . . . . . . . . . .— Cambridge So (90.30) 89,92,87.35,88.25 [44419,1039],Nse . . . . . . . . . . . . . .— Cambridge Tc (27.55) 27.80,27.90,26.65,26.85 [25384,174],Nse . . . . . . . . . . .— Camlin (23.85) 23.70,24.30,23.60,23.80 [33802,319],Nse . . . . . . . . . . . . . . . .1.4 Camlin Fine (92.80) 94,94,91,92.45 [7817,55],B . . . . . . . . . . . . . . . . . . . . . .13.7 Camph.& All (82) 81,86.90,79.90,81.25 [12325,82],S . . . . . . . . . . . . . . . . . . .8.2 Camson Bio (102.95) 103.45,104.75,101,103.40 [17318,86],S . . . . . . . . . . .16.0 Canfin Homes (87.90) 87,88.90,86.55,87.10 [11537,141],Nse . . . . . . . . . . . .5.0 Capital Trus (12) 11.95,11.95,11.89,11.89 [8,2],B . . . . . . . . . . . . . . . . . . . . . . .— Caplin Point (8.50) 8.92,8.92,8.92,8.92 [300,3],T . . . . . . . . . . . . . . . . . . . . . . .6.3 Capman Fin. (7.76) 8,8,7.38,7.38 [120,2],B . . . . . . . . . . . . . . . . . . . . . . . . . . .8.4 Caprihans(I) (51.55) 56,56,51.10,51.20 [4522,45],S . . . . . . . . . . . . . . . . . . . .10.3 Carborundum{2} (160) 160,162,159.35,160.75 [20310,194],Nse . . . . . . . . . . .14.4 Carnation In (16.50) 15.75,17,15.55,16.50 [481,12],B . . . . . . . . . . . . . . . . . . . .— Carol Info (60.15) 60.80,62.90,60.55,61.30 [63763,450],Nse . . . . . . . . . . . . . .3.5 Cat Technol. (10.58) 10.90,10.90,10.06,10.15 [170464,572],T . . . . . . . . . . . . .— Catvision Pr (17.90) 21.25,21.25,16.65,17.65 [5884,43],B . . . . . . . . . . . . . . . .6.2 CCAP (53.05) 55.70,55.70,55.70,55.70 [6337,32],S . . . . . . . . . . . . . . . . . . . .29.3 CCL Products (172.70) 171,177.95,171,176.30 [4657,47],Nse . . . . . . . . . . .11.2 CCS Infotech (5.07) 5.05,5.20,4.95,4.99 [7822,23],B . . . . . . . . . . . . . . . . . . . .5.4 Ceat (143) 139.50,145.40,139.50,141.05 [60186,1398],Nse . . . . . . . . . . . . . . .3.3 Ceekay Daikn (60.05) 62.40,62.40,60,60 [228,7],S . . . . . . . . . . . . . . . . . . . . . .— Ceenik Expo. (13.10) 12.50,13.75,12.50,13.47 [1081,8],B . . . . . . . . . . . . . . .11.3 Celebrity Fs (19.80) 19.50,19.80,19.25,19.55 [2623,17],Nse . . . . . . . . . . . . . .— Celestial Lb (30.60) 32,32,29.50,29.85 [16467,151],Nse . . . . . . . . . . . . . . . . .4.4 Cenlub Inds. (10.62) 10,11.40,10,10.57 [106,6],B . . . . . . . . . . . . . . . . . . . . . .5.7 Central Rly (200.50) 195.05,198,194.10,196.40 [230,4],B . . . . . . . . . . . . . . . . .— Centum Elec (62.65) 61.75,63.80,60.75,60.75 [1648,15],Nse . . . . . . . . . . . . . .— Century Enka (242.60) 241.80,244.50,233.10,235.95 [111998,2366],Nse . . . .7.0 Century Extr{1} (6) 6.20,6.20,5.95,6 [25193,43],Nse . . . . . . . . . . . . . . . . . . . .14.0 Century Ply.{1} (41.60) 41,42.45,40.75,41.45 [6430,63],Nse . . . . . . . . . . . . . .12.0 Cera Sanitar{5} (175) 177.90,179.50,175,175 [2959,52],Nse . . . . . . . . . . . . . . .7.3 Cerebra Inte (11.37) 11.50,11.99,11.25,11.84 [101275,170],B . . . . . . . . . . . .10.4 CFL Capital (3.48) 3.65,3.65,3.31,3.59 [7272,24],B . . . . . . . . . . . . . . . . . . . . . .— CG Impex (7.35) 7.21,7.47,6.92,6.96 [45464,94],B . . . . . . . . . . . . . . . . . . . . .14.8 CG Vak Soft. (11.91) 11.80,12.50,11.80,12.43 [3090,12],T . . . . . . . . . . . . . . . .— Chakkilam In (6.29) 5.98,6.59,5.98,6.01 [278,6],S . . . . . . . . . . . . . . . . . . . . . . .— Chamanlal Se (29.30) 28,28.55,27.80,28.25 [550,8],S . . . . . . . . . . . . . . . . . . .7.3 Chandni Text (34.95) 35,35.15,34,34.35 [19191,76],T . . . . . . . . . . . . . . . . . . .— Chandra Prab (14.90) 15,15,14.30,15 [8230,23],S . . . . . . . . . . . . . . . . . . . . .10.1 Chandrika Tr (3.31) 3.15,3.29,3.15,3.15 [3252,12],B . . . . . . . . . . . . . . . . . . . . .— Channel Guid{5} (48.80) 46.40,46.40,46.40,46.40 [509,13],B . . . . . . . . . . . . . . .— Charms Inds. (6.06) 5.76,5.76,5.76,5.76 [1,1],T . . . . . . . . . . . . . . . . . . . . . . .38.4 Chart.Capitl (32.50) 32,32,32,32 [100,2],B . . . . . . . . . . . . . . . . . . . . . . . . . . . .7.2 Chartered Lo (133.15) 132,135,126.75,129.85 [710,9],T . . . . . . . . . . . . . . . .30.1 CHD Develop.{2} (5.49) 5.55,5.76,5.50,5.76 [47189,79],S . . . . . . . . . . . . . . .576.0 Chembond Chm (188.70) 190.50,198.10H,190.50,198.10 [6411,18],S . . . . .16.8 Chemcel Bio (9.79) 10,10.10,9.75,9.95 [48388,105],T . . . . . . . . . . . . . . . . . .19.5 Chemfab Alk.{5} (44.25) 40.05,47,40.05,44.65 [2775,33],Nse . . . . . . . . . . . . . .7.1 Chemplast Sa{1} (10.20) 10.30,10.30,9.80,10 [134000,376],Nse . . . . . . . . . . . .— Chennai Meen (9) 8.35,9,8.12,8.50 [4251,12],S . . . . . . . . . . . . . . . . . . . . . . . .— Cheslind Tex (8.80) 8.50,9.20,8.50,9.20 [1354,7],Nse . . . . . . . . . . . . . . . . . . . .— Chettinad Ce (432) 440,440,432,438.45 [35,7],Nse . . . . . . . . . . . . . . . . . . . . .— Cheviot Co. (228.85) 225.10,229.90,224.20,224.20 [801,23],S . . . . . . . . . . .12.1 CHI Invest. (42.25) 42.50,43,41.55,42.10 [2890,86],Nse . . . . . . . . . . . . . . . .16.8 Chitra.Spin. (2.39) 2.45,2.50,2.30,2.50 [586,4],B . . . . . . . . . . . . . . . . . . . . . . . .— CHL (77.70) 79.50,83.40,79,80.05 [5309,79],B . . . . . . . . . . . . . . . . . . . . . . . . .9.2 Choice Intl. (110.10) 108,114.30,108,110.95 [15725,75],B . . . . . . . . . . . . . . .61.0 Choksi Imag. (51.75) 51.75,51.95,49.05,49.40 [10789,77],B . . . . . . . . . . . . . .4.5 Choksi Lab. (17.04) 17,17,16.50,16.86 [5144,27],B . . . . . . . . . . . . . . . . . . . . .5.2 Cholaman.DBS (65.35) 65.95,66.20,64.05,65.25 [24475,220],Nse . . . . . . . .16.8 Chordia Food (46.60) 46,46.30,44.30,44.30 [4084,33],B . . . . . . . . . . . . . . . . .7.3 Chowgule Stm (43.30) 43.50,43.90,41.10,41.60 [39296,244],B . . . . . . . . . . .2.8 Chromatic (I (26.55) 27.85,27.85H,27.85,27.85 [1254,11],T . . . . . . . . . . . . . . .— Ciba India (335.60) 335,345,333.60,338.40 [103517,154],S . . . . . . . . . . . . . . .— CIL Securits (17.65) 18.40,18.40,18.40,18.40 [1,1],B . . . . . . . . . . . . . . . . . . .10.5 Cindrella Ht (26.10) 27.25,27.25,24.80,26.40 [507,8],S . . . . . . . . . . . . . . . .120.0 Cinemax (61.55) 60.60,62.70,60.10,61.35 [16510,337],Nse . . . . . . . . . . . . .35.3 Cinevistaas{2} (5.50) 5.45,5.65,5.35,5.40 [4606,21],Nse . . . . . . . . . . . . . . . . . . .— Circuit Syst (13) 13,13.05,12.90,12.91 [1180,10],B . . . . . . . . . . . . . . . . . . . . . .— Citi Port Fn (19.95) 19,19,19,19 [100,2],B . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— Citurgia Bio (274) 275.75,279,268,269 [312,21],S . . . . . . . . . . . . . . . . . . . . . .— City Union B{1} (25.05) 25.10,25.55,24.85,24.95 [922621,2900],Nse . . . . . . . .7.4 CJ Gelatine (7.97) 7.65,8.35,7.65,8.35 [52,4],B . . . . . . . . . . . . . . . . . . . . . . . . .— Clariant Che (432.25) 424.50,435,423.75,431.10 [7624,208],Nse . . . . . . . . .12.6 Clarus Fin (12.71) 13.34,13.34,12.08,12.74 [14136,39],B . . . . . . . . . . . . . . . . .— Classic Diam{2} (22.65) 22.60,23.20,22.50,22.60 [65449,299],Nse . . . . . . . . .18.1 Clio Infotec (4.04) 4.24,4.24H,4.01,4.22 [51837,88],B . . . . . . . . . . . . . . . . . .21.1 Clutch.Auto (44.90) 45.40,46.90H,45,45.30 [229171,1630],Nse . . . . . . . . . .11.0 CMC (1324.95) 1345.35,1345.35,1315.10,1321.60 [2480,275],Nse . . . . . . . .15.6 CMI FPE (672.20) 685,685,662.25,676.75 [744,35],S . . . . . . . . . . . . . . . . . . . .9.7 CNI Research{1} (34.05) 34.95,34.95,33,33.60 [26180,166],B . . . . . . . . . . . .124.4 Cochin Minrl (59.55) 59.80,60.40,58,59.40 [11164,96],S . . . . . . . . . . . . . . . . .5.4 Colinz Labor (4.64) 4.43,4.43,4.43,4.43 [800,2],B . . . . . . . . . . . . . . . . . . . . . . .— Comfort Inte{1} (20) 20,20.40,19.20,19.35 [1130236,230],TS . . . . . . . . . . . .120.9 Comp-U-Learn (28.70) 30.10,30.10,28.50,28.85 [103573,568],B . . . . . . . . .18.3 Compact Disc (66.65) 67,69.70,66,66.40 [109687,656],B . . . . . . . . . . . . . . . .1.5 Competent Au (39.05) 40.50,40.85,39.50,39.80 [825,12],S . . . . . . . . . . . . . . .5.0 Compuage Inf (55.05) 54.05,56.95,53,56 [1504,15],B . . . . . . . . . . . . . . . . . . .5.9 Compucom Sof{2} (14.89) 15.02,15.59,14.75,15.18 [61397,142],S . . . . . . . . . .8.6 Compulink Sy (19.10) 19,20,18.20,19.60 [1425,10],Nse-T . . . . . . . . . . . . . . . .— Computech In{5} (4.05) 4.50,4.50,3.95,4.05 [94198,166],Nse . . . . . . . . . . . . . . .— Computer Pnt (5.13) 6.08,6.08,5.10,5.24 [11332,39],B . . . . . . . . . . . . . . . . .43.7 Computerskil (3.43) 3.60,3.60,3.26,3.26 [2721,13],B . . . . . . . . . . . . . . . . . . . .3.7 Conart Engg. (22.55) 22.05,22.20,22.05,22.20 [748,4],S . . . . . . . . . . . . . . . . .4.0 Concurrent I (10.92) 11.45,11.45,10.38,10.56 [104720,181],B . . . . . . . . . . . . .— Confidence P{1} (7.84) 7.90,7.95,7.53,7.67 [98653,188],B . . . . . . . . . . . . . . . . .8.2 Consol.Const (411.35) 405.10,411.90,393.40,395.30 [5511,266],Nse . . . . . .21.1 Consol.Finvs (51.15) 50.55,51.75,49,49.10 [7492,49],Nse . . . . . . . . . . . . . .64.6 Consol.Sec. (62.30) 62.50,62.50,62.05,62.05 [100,3],B . . . . . . . . . . . . . . . . . .3.8 Cont.Control (3.81) 3.97,3.97,3.62,3.62 [4351,11],T . . . . . . . . . . . . . . . . . . . . .— Contil India (5.26) 5.26,5.26,5,5 [110,2],B . . . . . . . . . . . . . . . . . . . . . . . . . . .38.5 Control Prin (29.30) 28.05,28.85,27.60,28.25 [6040,144],S . . . . . . . . . . . . . .83.1 Coral (I)Fin (19.60) 20.55,20.55,18.85,18.85 [101,2],B . . . . . . . . . . . . . . . . . . .9.3 Coral Lab. (62.05) 62.10,65.15,59,65.15 [3078,24],B . . . . . . . . . . . . . . . . . . . .6.3 Coral Newspr (3.93) 3.89,3.89,3.74,3.74 [1700,8],Z . . . . . . . . . . . . . . . . . . . . .— Cords Cable (42.05) 41.75,42.30,40.65,41 [33693,238],Nse . . . . . . . . . . . . .17.2 Core Project{2} (178.95) 178,179.85,173.05,173.85 [438698,5021],Nse . . . . .10.6 Coromandel I{2} (233.75) 231,238.95,228,234.15 [10230,321],Nse . . . . . . . . . .7.8 Cosco (I) (31.45) 30,30,30,30 [100,1],S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— Cosmo Ferr. (9.89) 9.77,9.90,9.77,9.90 [1005,7],TS . . . . . . . . . . . . . . . . . . . . .— Cosmo Films (104.70) 105.85,107.45,104.55,105.75 [12198,339],Nse . . . . . .2.5 Country Club{2} (18.30) 18.30,19.30,18.30,18.65 [1081059,2407],B . . . . . . . . .4.2 Country Cond{1} (6.10) 6.25,6.45,6,6.10 [6871,24],Nse . . . . . . . . . . . . . . . . . . .— Coventry Coi (7.75) 7.70,7.70,7.53,7.70 [1101,3],B . . . . . . . . . . . . . . . . . . . . . .— Cox & Kings (425.40) 435,462.90H,415.70,421.75 [12257868,222900],Nse 69.5 Cranes Soft.{2} (33.95) 33.90,33.95,33,33.10 [544699,2536],Nse . . . . . . . . . . .3.8 Cranex (5.16) 5.24,5.24,4.92,5.17 [9487,23],B . . . . . . . . . . . . . . . . . . . . . . . . .3.4 Cravatex (179.95) 175,180,172.65,175 [481,9],B . . . . . . . . . . . . . . . . . . . . . . .7.0 Crazy Infote{1} (1.61) 1.60,1.65,1.53,1.53 [74877,66],T . . . . . . . . . . . . . . . . . . . .— Creative Eye{5} (7.70) 7.95,7.95,7.50,7.75 [18181,111],Nse . . . . . . . . . . . . . . . .— Crest Animat (71.35) 70.30,70.40,67.90,68.50 [7913,127],Nse-T . . . . . . . .110.5 Crew BOS Pro (41.55) 41.80,42.20,40.60,41 [70403,727],Nse . . . . . . . . . . . .6.4 CRISIL (4341.25) 4306,4347,4221,4280.05 [351,65],Nse . . . . . . . . . . . . . . . .20.9 Crystal Soft (2.62) 2.70,2.75,2.70,2.75 [1125,5],B . . . . . . . . . . . . . . . . . . . . . . .— CSS Techn. (21.10) 20.05,20.95,20.05,20.40 [5775,20],TS . . . . . . . . . . . . . . . .— Cubex Tubing (16.75) 16.10,17.20,16,16.10 [4739,39],Nse . . . . . . . . . . . . . . .— Cubical Fin. (12.20) 11.61,12.80,11.61,12.80 [301,2],B . . . . . . . . . . . . . . . . .33.7 Cupid (9.25) 9.36,9.41,9.02,9.36 [6285,24],S . . . . . . . . . . . . . . . . . . . . . . . . . . .— Cybele Inds (10.85) 11.37,11.39,11.37,11.39 [1100,4],B . . . . . . . . . . . . . . . . . .— Cyber Media (34.05) 36.40,40.90,36,40.90 [30622,314],Nse . . . . . . . . . . . . . .— Cybermate In (2.54) 2.55,2.55,2.45,2.46 [99706,116],B . . . . . . . . . . . . . . . . .12.9 Cyberscape M (2.82) 2.68,2.90,2.68,2.68 [5100,16],T . . . . . . . . . . . . . . . . . . . .— Cybertech Sy (16.10) 16,17.80,15.75,17.05 [117963,501],Nse . . . . . . . . . . .25.8
W . . . .110/40 . . . . . .50/7 . . . . .24/10 . . . . .49/12 . . . . . .15/6 . . .191/110 . . . . .52/13 . . . .343/99 . . . .451/111 . . . .249/80 . . . . .53/24 . . . . . . .8/2 . . . . .88/29 . . .440/110 . . . . .47/13 . . . . . .13/4 . . . . . .13/4 . . . . .90/12 . . . . . . .9/4 . . . .106/13 . . . . .50/11 . . . . .96/49 . . . . . .24/2 . . . .150/28 . . . . .49/25 . . . . . . .1/1 . . . . .85/19 .2000/1152 . . . . .30/10 . . . . .48/12 . . . . . .28/8 . . . . . .29/9 . . . . . .18/7 . . . .284/86 . . . . . .25/9 . . . . . . .5/2 . . . . .45/13 . . . . . . .1/1 . . . .106/54 . . . . .36/11 . . . . . .31/7 . . . .100/29 . . . . .91/40 . . . .112/17 . . . .101/43 . . . . . .13/6 . . . . . . .9/5 . . . . . . .9/2 . . . . .57/18 . . . .174/71 . . . . . .18/7 . . . . .76/28 . . . . . .18/2 . . . . . .22/5 . . . . . .68/8 . . . .203/52 . . . . . . .7/2 . . . .191/31 . . . .120/18 . . . . . .22/9 . . . . . .25/9 . . . . . .35/9 . . . . . .14/7 . . . .243/52 . . . . .81/16 . . . .254/50 . . . . . . .8/2 . . . . .52/22 . . . .187/53 . . . . . .13/5 . . . . . . .5/1 . . . . . . .9/3 . . . . . .19/7 . . . . . .10/4 . . . . .31/11 . . . . . .39/7 . . . . . .18/3 . . . . . . .5/1 . . . . .124/3 . . . . . . .7/1 . . . . .42/16 . . . .145/15 . . . . . . .8/3 . . .198/107 . . . . . .13/2 . . . . .57/29 . . . . . .15/4 . . . . . . .9/5 . . . . . .11/5 . . .501/336 . . . .271/96 . . . . .69/12 . . . . . . .5/2 . . . .133/63 . . . . .159/7 . . . . .60/11 . . . . . .22/5 . . . . .85/21 . . . . .52/25 . . . . .63/20 . . . . .28/13 . . .355/190 . . . . . .23/9 . . . . .35/18 . . . . .80/25 . . . . . . .8/3 . . . . . .18/7 . . . . . .24/7 . . . .453/50 . . . . . .27/9 . . . . . .11/6 . . .460/145 . . . . . .14/2 . . . . . .30/6 . . . . . . .4/1 . . . . .47/15 . .1438/257 . . .747/160 . . . . . .36/3 . . . . .74/20 . . . . . . .7/4 . . . . . .30/2 . . . . . .39/3 . . . . .77/30 . . . . .42/17 . . . . .72/22 . . . . . .18/7 . . . . . .20/8 . . . . . . .6/2 . . . . . . .6/2 . . . . . . .5/2 . . . . . .27/7 . . . . . .12/2 . . . . . .14/3 . . .442/101 . . . . .65/27 . . . . .81/17 . . . . . .11/2 . . . . . . .7/3 . . . . .38/19 . . . . . .22/7 . . . . .72/23 . . . . . . .5/2 . . . . .62/26 . . . .216/42 . . . .243/79 . . . . .34/14 . . . . . .11/5 . . . .121/52 . . . . . .32/7 . . . . . .10/2 . . . . . .23/7 . . .463/343 . . . . .89/32 . . . . . . .6/2 . . . .226/51 . . . . . . .3/1 . . . . . .10/3 . . . . .79/14 . . . . .50/16 .4600/1922 . . . . . .10/2 . . . . . .24/7 . . . . . .20/8 . . . . . .15/5 . . . . . .11/4 . . . . . .12/5 . . . . .53/21 . . . . . . .4/1 . . . . . . .3/1 . . . . . .20/8
-D-
D&H Welding (21.60) 21.30,21.95,21.10,21.25 [7887,40],S . . . . . . . . . . . . . . .6.2 Dagger Frost (13.78) 14.45,14.45,13.56,13.79 [3352,20],S . . . . . . . . . . . . . . .— Dai-Ichi Kar (39.70) 39.50,41,39.50,40 [5029,29],S . . . . . . . . . . . . . . . . . . . . .3.0 Daikaffil Ch (12.46) 13.50,13.50,11.81,11.81 [372,8],B . . . . . . . . . . . . . . . . . .9.8 Dalmia Cemen{2} (146.65) 148.50,151.90,148.50,150.15 [220910,3476],Nse . .6.7 Damodar Thr. (25.30) 25,25,23.25,23.40 [691,16],S . . . . . . . . . . . . . . . . . . . . .— Danlaw Tech. (10.65) 10.57,10.95,10.55,10.95 [520,6],S . . . . . . . . . . . . . . . .22.8 Datamatics{5} (39.60) 40.45,40.45,38.75,38.85 [30482,253],Nse . . . . . . . . . . . .7.1 Dazzel Confi (5.68) 5.68,5.68,5.41,5.46 [21000,20],B . . . . . . . . . . . . . . . . . . .2.4 DB Int.St.Br (43.25) 41.50,45.40,41.50,45.40 [675,3],B . . . . . . . . . . . . . . . . .17.9 DCM (34.80) 34.85,35.15,33.20,33.85 [8521,149],Nse . . . . . . . . . . . . . . . . . . .8.4 DCM Financia (4.55) 4.65,4.65,4.45,4.45 [15256,51],Nse-T . . . . . . . . . . . . . .3.8 DCM Shr.Con{2} (55.10) 55.20,56.25,53.50,53.80 [66220,641],Nse . . . . . . . . . .7.2 DCM Shr.Ind (144) 143,145.30,142.80,144.20 [6158,75],S . . . . . . . . . . . . . . .4.2 DCW{2} (20.50) 20.70,20.85,20.25,20.30 [215708,976],Nse . . . . . . . . . . . . . . .11.6 De Nora (I) (61.40) 62.25,62.75,61.85,61.85 [149,5],Nse . . . . . . . . . . . . . . . . . .— Deccan Bear. (25.70) 24.45,25.70,24.45,25.70 [260,6],B . . . . . . . . . . . . . . . .91.8 Deccan Cem. (204.85) 206,207.30,202,206.30 [1316,35],Nse . . . . . . . . . . . . .3.8 Deccan Chron{2} (156.20) 156,156.20,151.05,151.80 [711032,6618],Nse . . . .17.6 Deccan Gold{1} (34.80) 35.50,35.90,33.75,34.25 [147747,691],B . . . . . . . . . . . .— Deccan Polyp (8.80) 9.24,9.24,9.24,9.24 [2,2],B . . . . . . . . . . . . . . . . . . . . . .16.2 Decolight Ce (10.40) 10,10.50,10,10.30 [3839,36],Nse . . . . . . . . . . . . . . . . . . .— Deep Indust. (123.20) 124,124.45,120.05,120.95 [90501,1076],B . . . . . . . . .24.4 Deepak Fert. (101.10) 101.50,101.60,98.05,98.35 [162240,1925],Nse . . . . . .6.3 Deepak Nitr. (138) 140,142,136.05,137.35 [2848,60],S . . . . . . . . . . . . . . . . . .8.3 Deepak Spinn (15.70) 15.70,16.45H,15.70,16.24 [2515,11],S . . . . . . . . . . . . . .— Delta Corp{1} (44) 43.90,44.30,42.50,42.90 [51773,635],Nse . . . . . . . . . . . . .104.6 Delta Magnet (14.35) 13.70,15.10,13.70,15 [1000,5],Nse . . . . . . . . . . . . . . . . .— Delton Cable (82.05) 82,82,76,77.15 [2864,32],B . . . . . . . . . . . . . . . . . . . . .26.2 Den Networks (191) 191,200,188.25,190.05 [572992,10051],Nse . . . . . . . . . .— Dena Bank (88.45) 88,88.35,85.70,86.30 [5567873,28946],Nse . . . . . . . . . . .5.0 Denison Hydr (336) 349.95,367.95,342,348.20 [2306,35],B . . . . . . . . . . . . .13.4 Denso (I) (86.65) 88.50,88.50,86.65,87.85 [19694,153],S . . . . . . . . . . . . . . .13.2 Dev.Cr.Bank (36.20) 36.30,36.45,35.50,35.60 [686783,3094],Nse . . . . . . . . . .— Devine Impex (24.50) 24.80,24.80,24.30,24.55 [400,4],B . . . . . . . . . . . . . . . . .— Devki Leas. (3.79) 3.97,3.97,3.65,3.65 [1701,5],B . . . . . . . . . . . . . . . . . . . . . . .— Dewan H.Fin. (194.40) 194.40,196.90,191.50,192.30 [330709,5020],Nse . . .13.9 DFM Foods (51.45) 49,53,49,49.05 [1074,17],B . . . . . . . . . . . . . . . . . . . . . . .12.4 Dhamp Sug(K) (9.13) 9,9.58,9,9.01 [1154,13],B . . . . . . . . . . . . . . . . . . . . . . . .— Dhampur Sugr (133.25) 133.80,135.25,131.50,132.60 [206846,2252],Nse .12.6 Dhampure Sp. (23.50) 23.85,23.90,23.05,23.15 [2419,21],B . . . . . . . . . . . . .14.9 Dhan.Roto Sp (14.60) 15,15.20,14.20,14.50 [3484,28],B . . . . . . . . . . . . . . . . .7.0 Dhanalak.Bnk (147.60) 148,148.40,140.50,142.75 [172133,3055],Nse . . . . .16.5 Dhandapani F (11.69) 11.11,12.10,11.11,11.26 [2822,10],B . . . . . . . . . . . . . . . .— Dhanuka Agri (224.05) 225,234.75,224.10,225.80 [4679,55],B . . . . . . . . . . . .7.6 Dhanus Tech (32.25) 32.05,32.90,31.40,31.70 [12952,153],Nse . . . . . . . . . . .7.7 Dharamsi Mor (8.21) 8.49,8.60,8.25,8.44 [28526,25],T . . . . . . . . . . . . . . . . . . .— Dharani Fin. (7.90) 7.75,7.75,7.51,7.51 [1300,4],B . . . . . . . . . . . . . . . . . . . . . .5.1 Dharani Sug (113.30) 109.10,114,109.10,109.85 [9749,111],Nse . . . . . . . . . .5.9 Dhoot I.Fin. (12.69) 12.31,13.33,12.07,12.15 [2078,14],B . . . . . . . . . . . . . . . .5.7 DHP India (21.10) 21,22.15H,21,22.15 [1971,24],B . . . . . . . . . . . . . . . . . . . . .5.2 Dhruv Estate (23.55) 23,23,22.40,22.40 [530,3],B . . . . . . . . . . . . . . . . . . . . . . .— Dhunseri Tea (170.25) 170.60,170.60,167,167 [4282,36],Nse . . . . . . . . . . . . .8.3 Diamant Invt (102.30) 97.20,97.65,97.20,97.50 [205,6],B . . . . . . . . . . . . . . . .2.3 Diamines&Chm (66.10) 66.50,66.60,64.65,65.45 [5079,55],S . . . . . . . . . . . . .4.8 Diamond Powe (171.15) 170.05,172.50,168.60,169.30 [24524,391],S . . . . . .8.6 Diana Tea Co{5} (27.85) 27.25,28.45,27.15,27.50 [62821,193],B . . . . . . . . . . . .7.5 DIC India (193.65) 194.90,194.90,189,191.85 [6079,82],Nse . . . . . . . . . . . . .10.1 Digjam (9.05) 9.30,9.30,8.95,9 [18559,89],Nse . . . . . . . . . . . . . . . . . . . . . . . . .— DIL (261.90) 263,285.50,263,279.90 [6846,251],B . . . . . . . . . . . . . . . . . . . . .11.9 Disa India (1377.25) 1360,1379,1360,1374.90 [58,10],B . . . . . . . . . . . . . . . .30.0 Dish TV{1} (41.75) 42,42.35,40.90,41.55 [2363295,7813],Nse . . . . . . . . . . . . . . .— Dishman Phar{2} (226.70) 224,230.50,224,226.30 [61981,1277],Nse . . . . . . .10.2 Divya.Granit (23.95) 23.10,24.50,23.10,23.70 [7736,18],B . . . . . . . . . . . . . . .2.7 Divyajyoti I (9.38) 9.80,9.80,9.41,9.59 [9544,34],B . . . . . . . . . . . . . . . . . . . . . .— DJS Stock (50) 48,52.50,47.55,50.50 [3900,18],T . . . . . . . . . . . . . . . . . . . . .63.1 DMC Intl.{5} (18.55) 18.90,19.15,18,18.10 [12972,103],B . . . . . . . . . . . . . . . . .72.4 Dolat Inv.{1} (5.30) 5.05,5.63,5.05,5.24 [85596,175],B . . . . . . . . . . . . . . . . . . . .7.4 Dollex Inds.{5} (7.80) 8.05,8.19,7.62,8.18 [42171,88],B . . . . . . . . . . . . . . . . . .10.6 Dolphin Medi (4.94) 4.97,4.97,4.45,4.45 [38380,100],B . . . . . . . . . . . . . . . . .34.2 Dolphin Off. (383.95) 386,386.50,371.65,373.20 [3850,182],Nse . . . . . . . . .20.7 Donear Inds.{2} (29.85) 30.90,30.90,29.20,29.80 [1501,17],Nse-T . . . . . . . . . . .— DPSC (618.65) 628.85,637.90,620,629 [249,20],Nse . . . . . . . . . . . . . . . . . . . . .— Dr.Agar.Eye (50.50) 48.25,51,48.25,51 [52,3],S . . . . . . . . . . . . . . . . . . . . . . .10.8 Dredging Cor (489.60) 494,495,485.10,487.80 [11920,479],Nse . . . . . . . . . .66.5 DS Kulkarni (68.65) 68.45,71,68.25,69.10 [99673,995],Nse . . . . . . . . . . . . .14.0 Dujod Pap Ch (11.60) 11.40,11.78,11.33,11.56 [6400,12],S . . . . . . . . . . . . . .23.6 Dujodw.Prod. (22.05) 23.15,23.15H,20.95,21.65 [26466,123],T . . . . . . . . . . .5.2 Duke Offshor (32.10) 31,31,30.50,30.50 [700,4],T . . . . . . . . . . . . . . . . . . . . .58.7 Duncans Inds (10.75) 11.25,11.30,11,11.30 [46311,162],Nse . . . . . . . . . . . . . .—
. . . . . .26/9 . . . . . .18/7 . . . . .52/22 . . . . . .14/5 . . . .220/71 . . . . .30/13 . . . . . .18/7 . . . . .50/13 . . . . . . .8/2 . . . . .51/12 . . . . .41/14 . . . . . . .8/2 . . . . .74/21 . . . .188/39 . . . . . .22/7 . . . . .74/34 . . . . .53/16 . . .300/117 . . . .164/25 . . . . .44/14 . . . . . .11/5 . . . . . .17/6 . . . .143/28 . . . .112/49 . . . .160/73 . . . . . .16/6 . . . . .59/22 . . . . .22/10 . . . . .95/33 . . .208/150 . . . . .93/27 . . .427/161 . . . . .96/28 . . . . .49/14 . . . . . .30/8 . . . . . . .5/3 . . . .220/45 . . . . .59/19 . . . . . .12/5 . . . .145/21 . . . . .33/12 . . . . . .18/4 . . . .178/40 . . . . . .14/7 . . .248/130 . . . . .46/11 . . . . . .10/4 . . . . . . .9/5 . . . .130/13 . . . . . .15/5 . . . . .22/11 . . . . .42/18 . . . .190/54 . . . .140/38 . . . . .68/17 . . . .253/61 . . . . .41/16 . . .208/100 . . . . . .11/4 . . . .309/94 .1779/1200 . . . . .57/18 . . . .273/88 . . . . .29/13 . . . . . .12/6 . . . . .63/15 . . . . . .30/2 . . . . . . .8/2 . . . . . . .11/3 . . . . . . .5/1 . . . .398/79 . . . . .46/15 . . .724/175 . . . . .55/23 . . .652/196 . . . . .88/16 . . . . . .14/5 . . . . . .23/4 . . . . .60/24 . . . . . .12/5
m
W
Dutron Poly. (24.95) 22.80,27.40,22.80,24.95 [1847,19],S . . . . . . . . . . . . . .10.9 Dwarikesh Su (110.20) 109.05,111,106,107.30 [80858,943],Nse . . . . . . . . . . .7.1 Dynacons Sys{2} (0.85) 0.90,0.90,0.90,0.90 [270910,50],Nse . . . . . . . . . . . . . .— Dynamat.Tech (984.70) 963.20,997.15,957,957 [111,21],Nse . . . . . . . . . . . .29.0 Dynamic Ind. (10.50) 10.45,11.55,9.50,10.94 [9960,67],S . . . . . . . . . . . . . . . .6.6 Dynemic Prod (16.25) 15.97,16.80,15.97,16.40 [12340,81],B . . . . . . . . . . . .11.7
-E-
E.Com Infote (7.20) 6.91,7.20,6.85,7 [2850,15],B . . . . . . . . . . . . . . . . . . . . . . .— East C.Steel (6.68) 7.01,7.01,7.01,7.01 [100,1],T . . . . . . . . . . . . . . . . . . . . . . .— Eastern Gas. (33.60) 34.90,35.30,33.50,34.05 [894,14],B . . . . . . . . . . . . . . .43.1 Eastern Silk{2} (17.65) 17.65,17.85,17.10,17.20 [177718,717],Nse . . . . . . . . . . .— Eastern Sug. (10.90) 10.80,10.80,10.43,10.69 [2350,7],B . . . . . . . . . . . . . . . .1.6 Eastern Tred (20) 20,20,20,20 [200,1],T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.8 Easun Reyrol{2} (96.60) 98,102.45,95.55,96.10 [339747,3631],Nse . . . . . . . .42.0 ECE Inds. (196.75) 194,198,191,191 [134,7],Nse . . . . . . . . . . . . . . . . . . . . . .11.7 eClerx Serv. (400.55) 395.10,408,395,396.60 [3105,192],Nse . . . . . . . . . . . .12.2 Ecoboard Ind (11.16) 11.25,11.40,10.50,10.70 [13558,40],B . . . . . . . . . . . . . . .— Ecoplast (18.25) 18.55,19.30,17.55,19.30 [2600,12],S . . . . . . . . . . . . . . . . . . .— Edelweiss Cp{5} (458.10) 455.10,459.60,455,455 [290937,999],Nse . . . . . . .16.9 Edserve Soft (224.70) 229,229,218,219.40 [150424,3361],Nse . . . . . . . . . .32.7 Eicher Motor (595.15) 585,634,585,606.05 [132532,6083],Nse . . . . . . . . . .22.0 EID Parry{2} (342.85) 338,345,332.10,334.85 [11388,603],Nse . . . . . . . . . . . . .9.2 EIH Asso.Hot (132) 131.50,137,130,133.30 [1412,37],Nse-T . . . . . . . . . . . .59.8 Eimco Elecon (236.90) 238.15,243.90,237,241.50 [275,9],Nse . . . . . . . . . . .10.1 EL Forge (22.50) 22.40,22.80,21.50,21.65 [965,16],Nse . . . . . . . . . . . . . . . . . .— Elango Indus (9.24) 9.68,9.68,9.68,9.68 [156,1],B . . . . . . . . . . . . . . . . . . . . .15.4 Elantas Beck (471.40) 467.05,473.95,465.15,467.35 [1073,45],S . . . . . . . . .14.0 Eldeco Hous. (122.80) 120.80,127.70,120.80,125.40 [1935,60],B . . . . . . . . . .4.1 Elder Health (63.05) 66,66.20,66,66.20 [6180,18],T . . . . . . . . . . . . . . . . . . . . .— Elder Pharma (284.90) 286,289.65,273.20,275.45 [43794,1579],Nse . . . . . .12.6 Elecon Engg.{2} (86) 85.95,86.45,84.15,84.45 [118218,1361],Nse . . . . . . . . .16.1 Electro.Cast{1} (48.25) 48.20,49.35H,45.75,46.40 [3995317,24042],Nse . . . . .7.4 Electrotherm (269.95) 270.60,282,266.65,275.45 [1967,97],Nse . . . . . . . . . .6.5 Elegant Flor (3.09) 3.09,3.23,2.94,3.23 [8482,16],B . . . . . . . . . . . . . . . . . . . . .— Elgi Equip{1} (84) 83.90,93.50H,83.10,88.65 [688072,8018],Nse . . . . . . . . . . .14.8 Elgi Rubber{1} (8.95) 8.70,9.70,8.55,9.20 [110889,217],Nse . . . . . . . . . . . . . .26.3 Ellora Paper (40.45) 38.45,42.45,38.45L,38.70 [1050,8],T . . . . . . . . . . . . . . . .— Elnet Tech. (65.05) 66,66,64.20,64.35 [3117,43],Nse . . . . . . . . . . . . . . . . . . . .7.3 Elpro Inter (618.10) 624,624,603,606.15 [135,16],B . . . . . . . . . . . . . . . . . . . . .— EMA (I) (41.20) 40.50,45.30,40,44.55 [1932,45],B . . . . . . . . . . . . . . . . . . . . . . .— Emami{2} (517.15) 525,556.80H,515.05,528 [36815,1278],Nse . . . . . . . . . . . .43.8 Emco{2} (85.70) 86.95,87.50,86.10,87.15 [109948,626],Nse . . . . . . . . . . . . . . .3.5 Emkay Global (72.40) 67.75,73.40,67.75,70.05 [2832,35],Nse . . . . . . . . . . . .6.5 Emmessar Bio (4.90) 4.90,5,4.90,4.95 [600,4],B . . . . . . . . . . . . . . . . . . . . . . . .— Emmsons Intl (77.85) 78,78.25,75.90,76.45 [4192,55],S . . . . . . . . . . . . . . . . .6.2 Empee Distil (135.65) 138.15,141,130.50,132 [26529,552],Nse . . . . . . . . . .13.1 Empee Sugars (18) 17.90,18.30,17.55,17.75 [18333,68],B . . . . . . . . . . . . . .13.8 Empire Inds. (362.25) 371.95,385,351,365.45 [1905,70],B . . . . . . . . . . . . . .11.9 Empower Inds{1} (31.25) 32.30,32.30,30,31.25 [39438,186],B . . . . . . . . . . . . . .— Encore Soft (7.74) 7.80,7.80,7.36,7.41 [1400,7],S . . . . . . . . . . . . . . . . . . . . . . .— Energy Dev. (60.25) 61,62.95,60.20,60.80 [4781,103],Nse . . . . . . . . . . . . . .14.7 Engineers (I (1340.35) 1344.95,1400,1335,1376.55 [23007,1898],Nse . . . . .18.1 English I.Cl (518.05) 520,524,510.05,511.65 [2996,131],S . . . . . . . . . . . . . . .9.9 Enkei Cast.{5} (81.45) 77.50,77.50,77.50,77.50 [90,2],Nse-T . . . . . . . . . . . . . . .— Ennore Coke (58.80) 59.80,59.80,55.90,56.15 [77161,350],B . . . . . . . . . . . .22.6 Enrich Inds. (13.04) 12.39,12.39,12.39,12.39 [4191,10],T . . . . . . . . . . . . . . . . .— Ensa Steel (14.45) 14.10,14.50,14.10,14.50 [2454,13],B . . . . . . . . . . . . . . . . . .— Enso Secutra (14.53) 17.35,17.35,15,15 [3603,17],S . . . . . . . . . . . . . . . . . . . .— Entegra (40.60) 40,41,38.60,40 [64664,342],Nse . . . . . . . . . . . . . . . . . . . . . . .— Enter.Intl. (6.26) 6.50,6.50,6.01,6.02 [800,4],B . . . . . . . . . . . . . . . . . . . . . . . . .7.8 Entert.Netw. (204.40) 206.40,210,202.05,202.95 [29586,854],Nse . . . . . . . . . .— Envair Elect (12.94) 12.90,12.90,12.30,12.89 [1925,14],S . . . . . . . . . . . . . . . .— EPC Inds. (51) 53.55,53.55,53.55,53.55 [5075,21],B . . . . . . . . . . . . . . . . . . .13.6 EPIC Energy (39.15) 38.70,39.30,37.20,37.70 [30235,87],S . . . . . . . . . . . . . .4.7 Epic Enzymes (3.05) 3.20,3.20,3.05,3.05 [5436,15],S . . . . . . . . . . . . . . . . . . .— Era E-Zone (46.80) 44.55,47.70,44.50,44.50 [8385,38],T . . . . . . . . . . . . . . . . .— Era Infra En{2} (198.90) 199.20,200.50,198.90,199.90 [308478,4009],Nse . . .12.0 Esab (I) (568) 555,560,541,553.20 [19280,499],Nse . . . . . . . . . . . . . . . . . . .14.0 Escort Fin. (5.80) 5.70,6.08,5.70,5.80 [3800,19],B . . . . . . . . . . . . . . . . . . . . . .— Escorts (114.45) 115,115,109.55,110.40 [606893,6801],Nse . . . . . . . . . . . . .35.2 Eskay K’N’It{1} (3.17) 3.48,3.48,3.11,3.12 [28807,84],B . . . . . . . . . . . . . . . . . . .3.9 Ess Dee Alum (361.35) 358.60,372.50,358,369.20 [56773,1416],Nse . . . . . . .— Essar Ship.P (69.20) 68,69.50,67.25,67.45 [114250,1483],Nse . . . . . . . . . . .45.0 Essel Propac{2} (45.60) 46,46.60,42.55,44.25 [54799,440],Nse . . . . . . . . . . . . .— Ester Inds.{5} (21.20) 21.20,21.50,20.70,20.90 [60643,206],B . . . . . . . . . . . . . .3.9 ETC Networks (200.75) 199,210.80H,191.20,197.60 [6140,110],Nse-T . . . .42.9 Euro Ceramic (38.40) 36.55,39.25,36.55,38.95 [2646,84],Nse . . . . . . . . . . . .2.5 Euro Multi. (32) 32.05,32.40,31.25,31.40 [119689,920],Nse . . . . . . . . . . . . .40.8 Eurolead.Fas (4.85) 5,5,4.61,4.61 [1300,5],B . . . . . . . . . . . . . . . . . . . . . . . . . .5.0 Eurotex Inds (28) 28.80,29.15H,27.30,28.65 [700,4],Nse . . . . . . . . . . . . . . . . .— Eveready Ind{5} (68.05) 62.15,69.50,62.15,68.75 [332066,4152],Nse . . . . . . .10.5 Everest Inds (165.10) 165.25,167.95,156.25,159.35 [8338,277],Nse . . . . . .10.2 Everlon Syn. (9.91) 9.68,9.68,9.50,9.50 [1500,3],B . . . . . . . . . . . . . . . . . . . .20.7 Everonn Edu (408.50) 408,424.90,408,416.65 [284300,7367],Nse . . . . . . . .21.5 Evinix Acces{1} (3.50) 3.30,3.60,3.30,3.40 [229961,217],Nse . . . . . . . . . . . . . .6.9 Excel Crop.{5} (130.40) 128.35,133.45,128.35,131.05 [10076,145],Nse . . . . . .5.5 Excel Glass (5.36) 5.62,5.62H,5.62,5.62 [32375,30],B . . . . . . . . . . . . . . . . . . .— Excel Inds.{5} (38.30) 38,39.40,38,38.85 [3694,19],Nse . . . . . . . . . . . . . . . . . . .— Excel Infowy (60.25) 59.50,61.90,55.65,60.05 [152789,1739],Nse . . . . . . . . .8.6 Exelon Infra (51.50) 54.05,54.05H,54.05,54.05 [200,2],B . . . . . . . . . . . . . . .43.9 Expo Gas Con{4} (11.47) 11,12.16,11,11.62 [7866,54],B . . . . . . . . . . . . . . . . . .6.2 EZ Comm Trad (5.05) 4.80,4.99,4.80,4.80 [300,4],T . . . . . . . . . . . . . . . . . . . . .—
-F-
Facor Alloys{1} (5.07) 5.01,5.15,5.01,5.08 [190696,280],B . . . . . . . . . . . . . . .12.4 Facor Steels{1} (2.39) 2.32,2.41,2.30,2.31 [55797,107],B . . . . . . . . . . . . . . . . . .— Fact Enterp. (20.75) 20.20,20.80,20.20,20.80 [676,13],B . . . . . . . . . . . . . . . .10.9 FAG Bearings (650.35) 658.75,674.90H,640,649.65 [10421,493],Nse . . . . .15.3 Fairdeal Fil (17.05) 19.60,19.60,17.55,17.70 [2461,34],S . . . . . . . . . . . . . . . . .5.4 Fairfield At (35.95) 36.40,37,35.25,35.40 [7448,29],B . . . . . . . . . . . . . . . . . .30.0 Falcon Tyres{5} (178.80) 174.50,179.90,169.90,170.50 [2254,77],S . . . . . . . .19.2 Fame India (29.75) 30.40,30.40,29.25,29.60 [20951,141],Nse . . . . . . . . . . . . .— Farmax Retal (157.65) 155,162,152.60,155.50 [94614,209],S . . . . . . . . . . .232.1 Fast Track E (2.98) 3,3,2.84,2.84 [3450,18],B . . . . . . . . . . . . . . . . . . . . . . . . . .— Faze Three (13.14) 13,15H,12.35,12.81 [11231,64],S . . . . . . . . . . . . . . . . . . . .— FCS Software{1} (16.05) 16.20,16.55,15.30,15.50 [8340076,21226],Nse . . . .14.2 FDC{1} (65.50) 65.20,66.10,64.35,64.65 [80286,744],Nse . . . . . . . . . . . . . . . . .11.3 Fed.-Mogul G (140) 143,147,142,147 [108646,1687],Nse . . . . . . . . . . . . . . .23.7 Fedder.Lloyd (82.60) 82.95,82.95,79.90,82.65 [15075,239],Nse . . . . . . . . . .13.5 Fem Care Ph. (755) 755,755,755,755 [1,1],S . . . . . . . . . . . . . . . . . . . . . . . . .25.0 Fenoplast (32) 31.10,31.10,31,31 [1000,6],S . . . . . . . . . . . . . . . . . . . . . . . . . .7.5 Ferro Alloys{1} (10.67) 10.51,10.70,10.31,10.40 [118475,178],B . . . . . . . . . . . . .— Fert.&Chem-T (39.55) 39.85,39.85,38.50,38.60 [32737,304],Nse . . . . . . . . . . .— FGP (4.10) 4.02,4.09,4.02,4.09 [3852,21],B . . . . . . . . . . . . . . . . . . . . . . . . . . .1.1 Fiberweb (I) (7.05) 7.19,7.19,6.90,7.19 [374,6],B . . . . . . . . . . . . . . . . . . . . . . .0.2 Fiem Inds. (108.30) 110,110,106.50,107.05 [192890,720],Nse . . . . . . . . . . .25.3 Filatex (I) (34.65) 34,35.25,34,34.50 [30680,14],S . . . . . . . . . . . . . . . . . . . . . .4.8 Filatex Fash{5} (15.17) 15.20,15.20,14.60,14.93 [75003,285],B . . . . . . . . . . . . .7.8 Filmcity Med{1} (0.82) 0.79,0.83,0.78,0.79 [35953,30],B . . . . . . . . . . . . . . . . . . .— Finavent.Cap (37.95) 36.95,36.95,36.25,36.25 [2650,5],B . . . . . . . . . . . . . . . .— Fine Line C. (8.72) 8.40,8.90,8.40,8.51 [1100,10],B . . . . . . . . . . . . . . . . . . . . . .— Finolex Cabl{2} (57.20) 56.95,58.30,56.30,57.10 [128262,1147],Nse . . . . . . .146.4 Finolex Inds (52.25) 52.50,54.50,51.05,51.20 [44792,447],Nse . . . . . . . . . . .19.0 First Custo. (23.65) 25.35,25.35,22.30,23.50 [1098,45],B . . . . . . . . . . . . . . .50.0 First Leasin (49.40) 50.30,50.30,48.70,49.15 [11639,148],Nse . . . . . . . . . . . .3.3 First Winner (21.40) 21.60,22.40,21.35,21.80 [8530,63],Nse . . . . . . . . . . . . .11.3 Firstobject{1} (3.11) 3.26,3.26H,3.03,3.09 [2016833,957],T . . . . . . . . . . . . . . .11.9 Firstsource (35.75) 35.75,36.15,35.30,35.40 [2483006,11347],Nse . . . . . . .12.7 Flawless Dia{1} (2.95) 3,3,2.85,2.95 [706470,268],B . . . . . . . . . . . . . . . . . . . . .4.8 Flex Foods (28.80) 28.70,29.30,28.10,28.20 [7457,44],S . . . . . . . . . . . . . . . .6.8 Fluidomat (17) 16.75,17.85,16.60,17.85 [2500,13],B . . . . . . . . . . . . . . . . . . . .6.1 Foods & Inns (223.80) 218,230.95,217,223 [395,11],B . . . . . . . . . . . . . . . . . .6.1 Forbes & Co (370.70) 375,380,370.05,374.05 [634,35],S . . . . . . . . . . . . . . . . .— Force Motor (286) 290,300.30,285,300.30 [4390,124],S . . . . . . . . . . . . . . . . .2.4 Fortune Fin. (71.70) 65.20,68.95,65,68.80 [504,8],B . . . . . . . . . . . . . . . . . . . .9.5 Foseco (I) (357) 352.10,354,348.50,348.50 [375,26],B . . . . . . . . . . . . . . . . .18.8 Foundry Fuel (8.10) 8.01,8.32,8,8.04 [12861,17],B . . . . . . . . . . . . . . . . . . . . . .— Four Soft{5} (31.60) 32,32.20,30.05,30.25 [522721,4149],Nse . . . . . . . . . . . . . .7.1 Fresenius Kb{1} (112.55) 114.65,114.65,105.35,107.95 [64326,837],Nse . . . . . .— Freshtrop Fr (36.35) 36.50,37.20,34.10,34.70 [26080,134],B . . . . . . . . . . . .14.0 Frontier Inf (2.11) 2.21,2.21,2.21,2.21 [14517,33],B . . . . . . . . . . . . . . . . . . . . .— Frontier Spr (33.30) 34,34,32.60,33 [4650,31],B . . . . . . . . . . . . . . . . . . . . . . .6.2 Frontline B. (1.94) 1.85,1.95,1.85,1.95 [2100,2],T . . . . . . . . . . . . . . . . . . . . . . .— Frontline Co (15.36) 16.10,16.10,16.10,16.10 [299,6],B . . . . . . . . . . . . . . . . .2.6 Fulford (I) (772.60) 760,772.80,736.50,742.40 [3187,142],S . . . . . . . . . . . . .20.0 Futura Poly. (8.55) 8.50,8.75,8.13,8.14 [9638,38],T . . . . . . . . . . . . . . . . . . . . . .— Future Cap.H (224.45) 224,227.75,217.10,218.50 [53234,1632],Nse . . . . . .80.0 Futuristic S (7.38) 7.02,7.74,7.02,7.74 [850,4],B . . . . . . . . . . . . . . . . . . . . . . . .—
-G-
G Tech Info.{1} (2.46) 2.58,2.58,2.47,2.56 [243269,144],B . . . . . . . . . . . . . . . . . .— Gabriel (I){1} (30.65) 30.40,31.90,29.75,30.45 [160472,967],Nse . . . . . . . . . . .15.8 Gagan Gases (5.65) 5.93,5.93,5.40,5.52 [6054,23],B . . . . . . . . . . . . . . . . . . . .— Gajra Bevel (5.01) 5.10,5.44,4.52,4.85 [6099,21],S . . . . . . . . . . . . . . . . . . . . . .— Galada Pow T (7.15) 7.05,7.25,6.15,6.84 [10071,42],B . . . . . . . . . . . . . . . . . . .— Galaxy Enter (26.60) 26.25,27.50,26.10,27 [6440,47],S . . . . . . . . . . . . . . . . . .— Gallantt Met (17.20) 17.20,18.15,17.20,17.90 [68538,433],Nse . . . . . . . . . . .20.8 Gamma Infowy (2.99) 2.85,3,2.85,3 [1238,5],T . . . . . . . . . . . . . . . . . . . . . . . . .— Gammon (I){2} (234.05) 235.10,238,229.10,231.90 [213710,2493],Nse . . . . . .13.8 Gammon Infra{2} (19.25) 19.40,19.70,18.70,18.80 [439377,2016],Nse . . . . . .48.2 Gandhi Sp.Tu{5} (82.70) 84,86,76.55,85 [1143,29],Nse . . . . . . . . . . . . . . . . . . .6.9 Gandhi.Hotel (38.25) 40.15,40.15,40,40 [460,6],B . . . . . . . . . . . . . . . . . . . . . .— Gandhim.Appl (48.20) 50.25,50.60,47.10,47.25 [4946,51],B . . . . . . . . . . . . . .2.3 Ganesh Benzo{1} (13.71) 13.07,13.73,12.85,13.17 [64133,118],B . . . . . . . . . . .3.9 Ganesh Hsg. (121) 122,133.10,122,126.50 [248186,2404],Nse . . . . . . . . . .17.6 Ganesh Poly. (23.50) 24,24,23,23.45 [34048,95],B . . . . . . . . . . . . . . . . . . . . .3.9 Gangotri Iro (39.95) 41.20,41.20,39.80,40.05 [51945,156],B . . . . . . . . . . . . . .— Gangotri Tex{5} (9.80) 9.70,10,9.40,9.60 [46271,94],Nse . . . . . . . . . . . . . . . . . .— Garden Silk (73.70) 74,75,72.15,72.80 [20754,188],Nse . . . . . . . . . . . . . . . . .3.9 Garg Furnace (20.30) 20,20.15,20,20 [6,2],S . . . . . . . . . . . . . . . . . . . . . . . . . .8.2 Garnet Const (17.80) 17.10,18.30,17.10,18.20 [3822,29],B . . . . . . . . . . . . . . .— Garnet Intl. (49.50) 51.95,51.95,49.80,49.85 [3500,15],B . . . . . . . . . . . . . . . . .— Garware Marn (15.85) 15.60,15.65,15.10,15.65 [2998,11],B . . . . . . . . . . . . .17.4 Garware Offs (188.75) 190,190,183,185 [2614,155],Nse . . . . . . . . . . . . . . . .11.2 Garware Poly (45.50) 45.55,46.60,44.75,44.95 [33900,105],B . . . . . . . . . . . .9.8 Garware Wall (68) 69,69,65.50,66.65 [19157,405],Nse . . . . . . . . . . . . . . . . .12.3 Gateway Dist (130.45) 131,131.90,129.25,129.75 [72053,1430],Nse . . . . . .18.3 Gati{2} (57.80) 58,58.70,57.25,57.45 [78827,758],Nse . . . . . . . . . . . . . . . . . . . . .— Gayatri Bio (9.03) 9.48,9.48,9.48,9.48 [2800,6],T . . . . . . . . . . . . . . . . . . . . . . .— Gayatri Proj (382.30) 385,389.95,382,385.20 [87826,495],B . . . . . . . . . . . . . .8.7 Gayatri Suga (5.31) 5.35,5.43,5.18,5.27 [23175,93],B . . . . . . . . . . . . . . . . . . . .— GEE{2} (53.70) 53,54.90,53,53.60 [17377,79],B . . . . . . . . . . . . . . . . . . . . . . . .15.1 Geefcee Fin. (186.90) 183,195H,180.10,185.25 [4221,93],B . . . . . . . . . . . . . . .— Geekay Fin.{1} (80.95) 81,81.50,79,79.90 [218095,708],B . . . . . . . . . . . . . . . . . .— GEI Indl.Sys (70.35) 69.05,71.40,68,69.10 [14997,115],B . . . . . . . . . . . . . . . .9.1 GEM Spinners{5} (3.60) 3.50,3.50,3.50,3.50 [100,1],T . . . . . . . . . . . . . . . . . . . . .— Gemini Comm.{1} (43.45) 45.65,45.65H,41.30,43.15 [438849,1665],Nse . . . .39.2 Gemstone Inv (64.85) 68,68,62,65.70 [2092,18],B . . . . . . . . . . . . . . . . . . . .66.4 Genesys Intl (188.25) 193.50,197.70H,181.35,196.15 [64899,858],Nse . . . . .9.3 Gennex Lab{1} (2.17) 2.25,2.25,2.05,2.05 [1005571,590],B . . . . . . . . . . . . . . . .— Genus Commu (1.19) 1.14,1.15,1.14,1.14 [8500,12],B . . . . . . . . . . . . . . . . . . .— Genus Power (174.40) 174.50,179,171,171.60 [36261,900],Nse . . . . . . . . .16.1 Geodesic{2} (115.65) 118,118.30,113.05,114.50 [248508,3875],Nse . . . . . . . . .4.0 Geojit BNP P{1} (40.80) 40.70,41.30,39.75,40 [226083,1616],Nse . . . . . . . . . .16.6 Geometric{2} (67.40) 67,70.80,66.90,69.10 [464758,3652],Nse . . . . . . . . . . . . .— GG Dandekar{1} (84.10) 85,85,81,81.10 [1914,51],B . . . . . . . . . . . . . . . . . . . .13.0 GHCL (49.85) 50,50.40,49.65,49.85 [355413,1494],Nse . . . . . . . . . . . . . . . . .5.1 GI Engg.Sol. (17.95) 18.30,18.30,17.05,17.05 [2163,9],Nse-T . . . . . . . . . . . .19.6 GIC Housing (91.65) 92.45,92.90,90.25,90.55 [122326,1949],Nse . . . . . . . . .8.0 Gillanders A (0) 140.40,145.50H,138.40L,138.90 [24081,707],Nse . . . . . . . . .9.1 Gillette (I) (1355.40) 1330.30,1360.75,1330.30,1352.85 [1792,386],Nse . . . .33.6 Gini Silk Mi (25.30) 25.95,26,25.05,26 [2697,18],S . . . . . . . . . . . . . . . . . . . . .6.2 Ginni Filam. (9.40) 9.75,9.75,9.15,9.25 [24167,152],Nse . . . . . . . . . . . . . . . . .— Gitanjali Gm (121.40) 121.20,122.35,118.80,119.70 [167191,2456],Nse . . . . .6.4 GIVO{3} (5.23) 5,5.58,5,5.24 [20620,71],B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— GKW (303.50) 303.10,304.75,302,302 [102,10],Nse . . . . . . . . . . . . . . . . . .368.3 Glance Fin. (5.38) 5.64,5.64,5.40,5.40 [700,4],B . . . . . . . . . . . . . . . . . . . . . . .2.0 Glob.Spirits (95.60) 96.40,96.95,89.90,92.65 [441194,4692],Nse . . . . . . . . .14.2 Global Cap. (68.90) 70.45,70.50,68.40,69.25 [32835,59],B . . . . . . . . . . . . . . . .— Global Vec.H (44.65) 44,44.65,43.50,44.15 [1620,24],Nse . . . . . . . . . . . . . . . .— Globsyn Info (15.30) 14.75,15.45,14.55,14.80 [4146,21],S . . . . . . . . . . . . . .17.0 Globus Corp.{2} (0.90) 0.92,0.93,0.86,0.92 [10922,10],S . . . . . . . . . . . . . . . . . .— Glodyne Tech (395.85) 392,400,385,386.35 [5880,311],Nse . . . . . . . . . . . . . .9.2 Glory Poly (23.85) 24,24.40,22.70,22.95 [89904,524],Nse . . . . . . . . . . . . . . .7.5 Gloster Jute (294) 287,294,279.10,282 [31,5],B . . . . . . . . . . . . . . . . . . . . . . .7.0 GM Breweries (86.50) 87,87,83.40,83.80 [2378,75],Nse . . . . . . . . . . . . . . . . .8.2 GMM Pfaudler{2} (95.40) 95.45,98.90,93.05,95.75 [8662,74],B . . . . . . . . . . . .14.9 GMR Ferro Al (32.35) 31.10,38.85,31.10,38.50 [875883,5074],Nse . . . . . . . . .— GMR Inds. (86.30) 90.65,90.65,90.65,90.65 [3951,74],Nse . . . . . . . . . . . . . . . .— GNFC (98.45) 99.70,100.50,98,99 [191890,2272],Nse . . . . . . . . . . . . . . . . . . .6.9 Goa Carbon (102.80) 103,104.40,101.65,102.20 [9537,245],Nse . . . . . . . . . . .— Godavari Drg (5.62) 5.90,5.90,5.90,5.90 [100,1],B . . . . . . . . . . . . . . . . . . . . . .— Godawari Pow (165.60) 166.45,169.60,161.50,168.35 [369980,4156],Nse . .54.3 Godfrey Phil (1793.60) 1776,1800,1756.55,1788.10 [174,37],Nse . . . . . . . .14.9 Gogia Cap.Se (36.50) 37,37,37,37 [57,2],B . . . . . . . . . . . . . . . . . . . . . . . . . .12.0 Gokak Textil (43.30) 41.05,45,41.05,43.95 [158,7],B . . . . . . . . . . . . . . . . . . . . .— Gokaldas Exp{5} (157.75) 156.10,160,154,156.05 [3684,95],Nse . . . . . . . . .445.9 Gokul Refoil{2} (56.35) 56.35,59.50,55.15,56.45 [167795,2367],Nse . . . . . . . .89.6 Goldcrest Fn (27.50) 28.45,28.45,28.45,28.45 [1,1],B . . . . . . . . . . . . . . . . . . .8.4 Golden Carpt (2.59) 2.47,2.47,2.47L,2.47 [300,1],T . . . . . . . . . . . . . . . . . . . . .— Golden Lamin (34.30) 35.60,36H,34.55,35.50 [20009,109],T . . . . . . . . . . . .10.2 Golden Tobac (100.65) 101.30,105.70,101.30,105.70 [8979,52],Nse-T . . . . . .— — Goldiam Int. (35) 35.35,36.30,35.30,35.65 [7986,61],Nse . . . . . . . .
—
m
W
. . . . .28/10 . . . .135/34 . . . . . . .2/1 . .1350/335 . . . . . .12/6 . . . . .29/10
—
. . . . . .10/3 . . . . . .14/6 . . . . .85/20 . . . . . .20/7 . . . . . .20/6 . . . . .22/14 . . . .109/31 . . . .250/80 . . . .433/86 . . . . . .16/6 . . . . .21/12 . . .542/218 . . . .257/18 . . .670/184 . . . .360/116 . . . .155/41 . . . .334/98 . . . . .24/18 . . . . . .17/8 . . .500/145 . . . .169/41 . . . . .92/19 . . .340/166 . . . . .111/24 . . . . .49/13 . . . .307/80 . . . . . . .4/2 . . . . .94/27 . . . . . .12/5 . . . . .49/38 . . . . .75/58 . . .685/233 . . . . .51/24 . . .557/180 . . . .106/23 . . . . .86/24 . . . . . . .7/3 . . . . .95/35 . . . .174/41 . . . . . .22/6 . . .399/132 . . . . . .35/3 . . . . . .13/4 . . . . .82/31 . .1504/405 . . .562/225 . . . . . .83/11 . . . . .65/12 . . . . . .14/2 . . . . .21/11 . . . . .30/12 . . . . . .48/8 . . . . . .10/5 . . . .274/96 . . . . . .17/9 . . . . .65/16 . . . .125/23 . . . . . . .4/2 . . . . . .51/9 . . . . .211/65 . . .577/195 . . . . . . .9/2 . . . .134/32 . . . . . . .4/1 . . .392/110 . . . . .91/20 . . . . .49/10 . . . . . .28/8 . . . .211/51 . . . . .60/22 . . . . .81/27 . . . . . . .6/2 . . . . . .29/9 . . . . .76/12 . . . .179/42 . . . . . .13/3 . . . .489/79 . . . . . . .6/1 . . . .167/58 . . . . . . .6/2 . . . . .51/22 . . . .129/56 . . . . .54/43 . . . . . .16/4 . . . . . . .6/2
—
. . . . . . .7/2 . . . . . . .4/1 . . . . .45/18 . . .675/219 . . . . . .21/9 . . . . .42/12 . . . .194/20 . . . . . .42/9 . . . .175/50 . . . . . . .5/1 . . . . . .15/6 . . . . . .18/2 . . . . .69/26 . . . .148/28 . . . . .86/15 . . .818/540 . . . . . .41/7 . . . . . .14/5 . . . . .58/16 . . . . . . .6/1 . . . . . .12/4 . . . .130/37 . . . . .38/10 . . . . .115/12 . . . . . . .1/1 . . . . .42/13 . . . . . .14/8 . . . . .60/17 . . . . .61/25 . . . . .38/12 . . . . .61/24 . . . . . .33/9 . . . . . . .3/1 . . . . . .40/9 . . . . . . .4/1 . . . . .36/14 . . . . . .20/7 . . . .270/95 . . .619/305 . . . .347/55 . . . .158/22 . . .379/193 . . . . . .10/4 . . . . . .37/11 . . . .120/31 . . . . .43/14 . . . . . . .3/1 . . . . .36/10 . . . . . . .2/1 . . . . .24/13 . . .800/272 . . . . . .10/3 . . . .329/92 . . . . . .20/7 . . . . . . .3/1 . . . . . .34/6 . . . . . .13/5 . . . . . . .7/3 . . . . . .12/4 . . . . .33/10 . . . . . .23/8 . . . . . . .5/3 . . . .255/49 . . . . .31/10 . . . . .89/30 . . . . .48/23 . . . . . .64/8 . . . . .19/10 . . . .149/28 . . . . . .26/5 . . . . . .42/7 . . . . . . .11/3 . . . . .95/25 . . . . .25/10 . . . . . .26/8 . . . . .68/16 . . . . . .19/8 . . . .200/51 . . . . .53/16 . . . . .79/28 . . . .144/42 . . . . .74/28 . . . . . .30/8 . . . .427/42 . . . . . . .9/3 . . . . .63/21 . . . .195/37 . . . . . .84/3 . . . . .81/24 . . . . . . .4/3 . . . . .46/10 . . . . .82/20 . . . .198/41 . . . . . . .3/1 . . . . . . .2/1 . . . .283/62 . . . .159/38 . . . . .53/15 . . . . .74/10 . . . . .94/42 . . . . .53/24 . . . . . .50/4 . . . .103/28 . . .146/138 . .1405/555 . . . . .28/12 . . . . . .10/3 . . . .149/32 . . . . . . .8/3 . . . .365/21 . . . . . . .8/4 . . . .112/75 . . . . .75/10 . . . . .66/22 . . . . . .24/4 . . . . . . .1/1 . . . .480/81 . . . .203/19 . . . .324/87 . . . .107/42 . . . . .112/36 . . . . .44/19 . . . .134/50 . . . .110/51 . . . .115/39 . . . . . . .8/4 . . . .185/39 . .2050/610 . . . .113/35 . . . . .46/22 . . . .186/42 . . . . .79/33 . . . . .31/14 . . . . . . .4/2 . . . . . .36/7 . . . .127/36
W
m
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19
POWERED BY ETIG DATABASE
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20
STOCKS ON BSE/NSE, DERIVATIVES
POWERED BY ETIG DATABASE m
W
Reliable Ven (23) 22.05,22.05,22,22.05 [450,3],B . . . . . . . . . . . . . . . . . . . . .14.4 Reliance Med{5} (269.50) 268.10,272.75,265.80,267.70 [261198,5613],Nse . . .— Relic Life S (6.70) 7.37,7.37,7,7.20 [1020,5],B . . . . . . . . . . . . . . . . . . . . . . . . .— Religare Tec (75) 75.55,75.55,72.50,75 [2767,19],T . . . . . . . . . . . . . . . . . . . . .— Religare TG{5} (33.80) 32,35,32,33.75 [4710,28],B . . . . . . . . . . . . . . . . . . . . . . .— Remi Metals{6} (30.25) 30.60,31.75,29.80,30.10 [6132,54],B . . . . . . . . . . . . . . .— Remsons Ind. (19.15) 19,20.15,19,19.20 [2052,15],Nse . . . . . . . . . . . . . . . . . .— Renaiss.Jewl (51.90) 58.80,58.80,51.50,51.90 [27942,393],Nse . . . . . . . . . . .4.2 Repro India (99.70) 104.90,104.90,98.25,99.40 [7991,99],Nse . . . . . . . . . . . .8.5 Resonance Sp (28.15) 26.90,28,26.90,27.10 [9513,59],S . . . . . . . . . . . . . . .11.2 Restile Cer. (15.04) 15.15,15.75,14.30,15.75 [143,7],B . . . . . . . . . . . . . . . . . . .— Resurgere Mn (96) 96.65,96.65,93.10,93.50 [88770,1482],Nse . . . . . . . . . . .4.0 Revathi Equ. (566.55) 565,571.70,559,560.20 [615,51],Nse . . . . . . . . . . . . .24.9 Rexnord Elec (6.93) 6.85,6.85,6.85,6.85 [450,2],B . . . . . . . . . . . . . . . . . . . . .11.6 RFL Intnl.{2} (1.63) 1.70,1.71,1.55,1.58 [13154,23],B . . . . . . . . . . . . . . . . . . . . . .— Riba Textile (16.14) 16.60,16.60,15.35,15.43 [69315,85],B . . . . . . . . . . . . . . . .— Rich Capital (142) 143.85,144.10,136.60,139.95 [62239,217],B . . . . . . . . . . . .— Richa Inds. (147.05) 148,150.30,145,148.60 [63577,90],T . . . . . . . . . . . . . .35.2 Richirich In{5} (4.47) 4.30,4.59,4.25,4.58 [1906,8],B . . . . . . . . . . . . . . . . . . . . . .— Rico Auto{1} (30.20) 29.55,30.60,29,29.30 [135496,601],Nse . . . . . . . . . . . . . . .— Ricoh (I) (27) 27,27,25.50,25.90 [12130,61],B . . . . . . . . . . . . . . . . . . . . . . . . .7.7 Riddhi Siddh (179.50) 180,183.95,171.05,172.75 [10825,233],S . . . . . . . . .10.1 Rids Secur. (21) 21.25,21.65,20,20 [8160,15],T . . . . . . . . . . . . . . . . . . . . . . . .— Riga Sugar (40.10) 40.95,41.70,40.05,40.20 [9444,88],S . . . . . . . . . . . . . . . .9.5 Rishab Finl. (6.30) 6.61,6.61,6.30,6.32 [1400,17],B . . . . . . . . . . . . . . . . . . . .31.6 Rishabh Digh (22.65) 23.25,23.70,22.50,23.60 [2746,34],S . . . . . . . . . . . . .20.9 Rishabh Tech (17.75) 18,18.75,17.75,17.95 [147625,575],B . . . . . . . . . . . . . .6.1 Rishi Laser (46.90) 45.40,47.80,44.25,46.35 [21455,133],B . . . . . . . . . . . . . . .— Rishi Packer (8.04) 7.64,7.64,7.64,7.64 [300,2],T . . . . . . . . . . . . . . . . . . . . . .5.5 Rishiroop Ru (4.87) 5,5.10,4.63,4.77 [4168,36],B . . . . . . . . . . . . . . . . . . . . . . .— Ritesh Intl. (4.98) 4.74,4.99,4.74,4.98 [1769,10],B . . . . . . . . . . . . . . . . . . . . .14.2 Ritesh Prop (17.70) 17.75,17.95,17.30,17.40 [14132,44],B . . . . . . . . . . . . . . . .— RLF (9.01) 9.03,9.03,8.56,8.56 [14502,39],T . . . . . . . . . . . . . . . . . . . . . . . . . . .1.9 Rock.H.Petro (3.96) 4,4.04,3.84,3.98 [1251,7],T . . . . . . . . . . . . . . . . . . . . . . . .— Rohit Ferro (39) 38.65,39,37.50,37.85 [34043,249],Nse . . . . . . . . . . . . . . . . . .— Rohit Pulp (27.60) 28.80,28.80,26.25,26.25 [3541,18],B . . . . . . . . . . . . . . . . . .— Rollatainer (222.35) 233,233.45,213,226.75 [1789,45],B . . . . . . . . . . . . . . . . .— Roman Tarmat (51.35) 50.75,52.45,50.75,51.45 [2152,47],Nse . . . . . . . . . .22.0 Roopa Inds. (5.99) 6.10,6.28H,5.90,6.28 [10135,19],B . . . . . . . . . . . . . . . . .12.1 Rose Zinc (4.80) 5,5.04,4.75,5.01 [2700,9],T . . . . . . . . . . . . . . . . . . . . . . . . . . .— Roselabs Fin (8) 7.90,7.90,7.90,7.90 [100,1],B . . . . . . . . . . . . . . . . . . . . . . . . .— Roselabs Ind (16.65) 17,17.50,16.55,17 [2299,22],B . . . . . . . . . . . . . . . . . . . .— Roto Pumps (66.10) 69,69,65.10,66.80 [14136,137],B . . . . . . . . . . . . . . . . . .5.6 Royal Cushio (11) 10.94,11.20,10.94,11 [2023,38],S . . . . . . . . . . . . . . . . . . . .— Royal Orchid (77) 77,77.15,75,76.50 [63413,714],Nse . . . . . . . . . . . . . . . . .22.2 Royale Manor (23.19) 24,25.45H,24,24.55 [193486,626],B . . . . . . . . . . . . . .14.8 RPG Cables (24.80) 25.05,25.40,24.60,24.70 [28629,106],Nse . . . . . . . . . . . .— RPG Life Sci{8} (69.70) 71.50,72.95H,67.40,67.90 [57284,576],Nse . . . . . . . .13.4 RR Financial (55.55) 61.90,62.80,56.75,57.85 [1968,38],B . . . . . . . . . . . . . . .8.0 RS Software (48) 48.60,49.25,47.50,47.75 [10098,108],Nse . . . . . . . . . . . . . .3.7 RSWM (98.95) 94.70,101.20,92,98.75 [370277,4961],Nse . . . . . . . . . . . . . .107.3 RT Exports (28.55) 30.90,30.90,30.90,30.90 [50,2],S . . . . . . . . . . . . . . . . . . . .— RTCL (4.67) 4.70,4.70,4.45,4.46 [12020,13],B . . . . . . . . . . . . . . . . . . . . . . . . . .— RTS Power Co (75.10) 76,76,73.30,73.45 [1596,24],B . . . . . . . . . . . . . . . . .48.3 Rubber Prod. (7.80) 8,8,7.65,7.65 [401,4],B . . . . . . . . . . . . . . . . . . . . . . . . . .13.7 Rubfila Int. (4.72) 4.49,4.49,4.49,4.49 [5488,12],T . . . . . . . . . . . . . . . . . . . . . . .— Rubra Medica (27.30) 28.65,28.65,28.65,28.65 [600,3],T . . . . . . . . . . . . . . . . .— Ruby Mills (749.95) 750,750,735,735 [20,4],Nse . . . . . . . . . . . . . . . . . . . . . .44.1 Ruchi Infra.{1} (49.75) 49.60,49.60,46.50,46.70 [18257,608],Nse . . . . . . . . .274.7 Ruchi Soya{2} (84.30) 84.70,86.70,83.80,84.30 [784516,5006],Nse . . . . . . . .16.1 Ruchi Strips (9.35) 9.50,9.81,8.89,9.80 [131474,217],B . . . . . . . . . . . . . . . . . .— Ruchira Papr (10.60) 11,11,10.15,10.25 [22650,46],Nse-T . . . . . . . . . . . . . . . .— Rungta Irrig (37.65) 40.25,40.70,40.25,40.70 [300,2],B . . . . . . . . . . . . . . . . .56.5 Ruttonsha In (15.80) 15.80,15.80,15.80,15.80 [100,1],T . . . . . . . . . . . . . . . . .7.7
. . . . . .37/9 . . .464/136 . . . . . . .9/5 . . . .131/37 . . . . . .41/11 . . . . . .51/4 . . . . .24/14 . . . . .59/18 . . . .136/43 . . . . . .32/5 . . . . . .17/7 . . . .140/36 . . .734/323 . . . . . . .8/4 . . . . . . .2/1 . . . . .77/14 . . . . .174/5 . . . .162/29 . . . . . . .9/4 . . . . . .33/7 . . . . .30/12 . . . .201/58 . . . . .25/12 . . . . .62/16 . . . . . . .8/2 . . . . . .26/7 . . . . .47/15 . . . . .49/19 . . . . . . .9/4 . . . . . . .5/2 . . . . . . .6/3 . . . . .52/14 . . . . . . .9/1 . . . . . . .6/2 . . . . .49/12 . . . . . .34/9 . . . .294/48 . . . . .72/19 . . . . . . .6/2 . . . . . . .7/2 . . . . . .10/5 . . . . . .21/5 . . . . .77/26 . . . . . .12/4 . . . . .88/38 . . . . . .25/7 . . . . . .29/9 . . . . .73/16 . . . . .78/24 . . . . . .61/9 . . . .104/23 . . . . .49/27 . . . . . . .6/3 . . . .308/59 . . . . . .11/7 . . . . . . .5/1 . . . . .30/10 . . .916/252 . . . . . .74/8 . . . .102/17 . . . . . .21/5 . . . . . .13/4 . . . . .52/10 . . . . . .23/8
-S-
S E Investm. (243.85) 250,250,236.75,237.65 [754,27],Nse . . . . . . . . . . . . . .4.0 S Kumars Nat (39.90) 40,40.35,39.35,39.65 [640438,3542],Nse . . . . . . . . . . .5.4 S Kumars Onl (5.88) 6.17,6.17H,5.70,5.87 [50803,53],B . . . . . . . . . . . . . . . . .— S V Electric (29.05) 29.50,30.40,28.60,28.70 [2400,14],T . . . . . . . . . . . . . . . . .— S&S Organics (7.15) 6.80,6.80,6.80,6.80 [200,2],Z . . . . . . . . . . . . . . . . . . . . . .— S.A.Enterpr. (7.94) 8,8,8,8 [864,1],B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.0 S.A.Petroche (15.10) 15.45,15.45,14.40,14.80 [571726,1773],Nse . . . . . . . . .9.0 S.I.Bank (144.45) 143.10,145.60,142.25,143.45 [236465,2341],Nse . . . . . . . .6.8 S.R.Indus. (6.70) 6.32,6.75,6.32,6.49 [9205,15],B . . . . . . . . . . . . . . . . . . . . .26.0 SAAG RR Infr (19.30) 19.75,20,18.65,19.45 [13776,56],B . . . . . . . . . . . . . . . .— Saamya Biote (12.82) 14.10,14.10H,11.67,12.11 [254035,577],B . . . . . . . . . . .— Saarc Net{1} (2.05) 2.15,2.15,1.97,2.03 [93271,77],B . . . . . . . . . . . . . . . . . . . . . .— Sabero Org. (65.85) 68,68.95,64.20,64.65 [151208,1149],Nse . . . . . . . . . . . .6.6 Saboo Sodium (9.52) 9.50,9.89,9.15,9.70 [1867,20],B . . . . . . . . . . . . . . . . . . .— Sacheta Met. (9.97) 10.46,10.46,9.55,9.55 [350,5],B . . . . . . . . . . . . . . . . . . .10.2 Sadbhav Engg (1002.30) 987,1009,985.25,997.75 [780,56],Nse . . . . . . . . .18.9 Sadhana Nitr (17.60) 17.40,18.40,17.40,17.75 [2632,16],B . . . . . . . . . . . . . . . .— Safari Ind. (47.05) 48.95,49.40,47.50,48.75 [19419,141],T . . . . . . . . . . . . . .22.5 Sagar Cem. (179.90) 184.80,184.80,176.50,177.50 [3376,92],Nse . . . . . . . . .7.1 Sah Petroleu{5} (24.10) 23.55,24,23.55,24 [12593,60],Nse . . . . . . . . . . . . . . . . .— Sahara Hsgfi (149.80) 151.50,151.50,147,147.75 [3508,200],B . . . . . . . . . .53.3 Sahara One M (156.65) 152.70,156.95,152.60,155.30 [191,18],S . . . . . . . . . . .— Sahyadri Ind (101.90) 102.05,117.40H,102.05,110.60 [434636,4187],B . . . . .4.2 Saint-Gobain (21.40) 21.25,21.80,20.80,21 [11815,104],B . . . . . . . . . . . . .105.0 Saksoft (73.30) 76,77,70.15,75.85 [4732,72],Nse . . . . . . . . . . . . . . . . . . . . . . .7.4 Sakthi Fin. (10.32) 12.20,12.20,10,10.09 [2888,39],B . . . . . . . . . . . . . . . . . . .5.3 Sakthi Sugar (92.05) 92.75,92.75,90.10,90.80 [40629,510],Nse . . . . . . . . . .52.8 Sakuma Exp. (13.90) 13.90,14.55,13.10,13.95 [14507,93],Nse . . . . . . . . . . . .9.8 SAL Steel (10.15) 10.30,10.35,10,10.10 [41171,207],Nse . . . . . . . . . . . . . . . . .— Salona Cot. (10.31) 10.82,10.82,10.01,10.01 [1001,6],S . . . . . . . . . . . . . . . .10.6 Salora Int. (45.50) 46.20,47,44.25,45.20 [13868,103],Nse . . . . . . . . . . . . . . . .— Salzer Elec. (97.85) 102,102,97.10,99 [1989,34],S . . . . . . . . . . . . . . . . . . . .12.6 Sambandam Sp (69.05) 70,72.50,69.40,70.15 [110,3],TS . . . . . . . . . . . . . . . . .— Sambhaav Med{1} (2.30) 2.20,2.20,2.20,2.20 [461,11],Nse . . . . . . . . . . . . . . . . .— Samkrg Pist. (59.90) 60.50,60.50,58.20,58.80 [5230,39],S . . . . . . . . . . . . . .14.3 Sampada Chem (46.90) 47.80,47.80H,47.80,47.80 [300,2],T . . . . . . . . . . . . . .— Samrat Pharm (11.80) 12.15,12.39,12,12.02 [2827,20],S . . . . . . . . . . . . . . .10.9
. . .276/156 . . . . .56/13 . . . . . . .6/2 . . . . . .38/4 . . . . . . .7/3 . . . . . .13/8 . . . . . .18/6 . . . .160/44 . . . . . . .9/3 . . . . . .29/7 . . . . . .14/4 . . . . . . .4/1 . . . . .70/10 . . . . . .12/4 . . . . . .14/5 . .1025/214 . . . . . .25/8 . . . . .50/11 . . .281/113 . . . . .40/13 . . . .215/44 . . . .228/76 . . . .117/22 . . . . . .26/8 . . . .102/27 . . . . . .14/4 . . . .106/18 . . . . . .16/5 . . . . . .17/5 . . . . . .11/6 . . . . .55/25 . . . .110/29 . . . . .77/24 . . . . . . .4/1 . . . . .72/27 . . . . .48/13 . . . . . .14/6
m
W
Samtel (I) (10.70) 10.85,11.20H,10.22,10.42 [961,14],S . . . . . . . . . . . . . . . . . .— Samtel Color (19.25) 19.65,19.75,18.75,18.85 [37841,303],Nse . . . . . . . . . . .7.2 Samtex Fash. (25.55) 26.80,26.80H,26.80,26.80 [120257,51],TS . . . . . . . . . .1.7 Samyak Intl. (98.15) 93.25,93.25,93.25,93.25 [335,7],B . . . . . . . . . . . . . . . .112.3 Sanco Trans (188.20) 190,193.60,181.05,186.10 [666,29],B . . . . . . . . . . . . . .3.3 Sand Plast (7.64) 7.97,7.98,7.91,7.91 [5600,8],T . . . . . . . . . . . . . . . . . . . . . . . .— Sandesh Ltd. (210.80) 218.95,218.95,212.25,214.85 [3035,25],Nse . . . . . . . .5.1 Sandu Pharma (17.47) 17.65,18,15.50,15.85 [25926,170],B . . . . . . . . . . . . .17.0 Sandur Mang. (432.85) 440,440,420,423.05 [5410,145],B . . . . . . . . . . . . . .20.0 Sangal Paper (26) 27,27,27,27 [100,1],T . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3.3 Sangam (I) (31.80) 32.50,38.20H,32.50,35.65 [782120,5377],Nse . . . . . . . .21.9 Sanghi Ind. (31.05) 31,33,30.50,32 [64944,515],Nse . . . . . . . . . . . . . . . . . . .10.9 Sanghi Poly (4.35) 4.50,4.50,4.15,4.15 [89721,118],Nse . . . . . . . . . . . . . . . . .— Sanghvi Move{2} (217.55) 219.50,219.50,214.50,216.75 [16826,528],Nse . . .10.0 Sanguine Med (3.92) 4.11,4.11,3.81,3.90 [181433,248],B . . . . . . . . . . . . . . . . .— Sanjivani Pa (28.80) 29,29.60,28,28.25 [16631,96],B . . . . . . . . . . . . . . . . . . .5.4 Sankhya Info (29.55) 31.50,31.50,27,27.55 [16038,123],B . . . . . . . . . . . . . . .7.4 Sanraa Media{1} (0.80) 0.82,0.84,0.80,0.80 [1190408,361],B . . . . . . . . . . . . . . .6.2 Sanwaria Agr{1} (61.70) 60.50,62.80,60.50,61.65 [3232,41],Nse . . . . . . . . . . .55.5 Sapan Chem (3.18) 3.20,3.33,3.04,3.33 [8790,15],B . . . . . . . . . . . . . . . . . . . . .— Sarang Chem.{1} (0.55) 0.58,0.59,0.50,0.53 [41008,18],B . . . . . . . . . . . . . . . . . .— Saraswati In (990) 996,999.90,975,995.20 [445,30],B . . . . . . . . . . . . . . . . . .42.4 Sarda Energy (179.55) 178,181.45,177.10,177.20 [5222,51],Nse . . . . . . . . .38.9 Sarda Papers (3.99) 4.18,4.18,4.18,4.18 [35,3],B . . . . . . . . . . . . . . . . . . . . . . .— Sarda Plywoo (28.75) 29,29,27.35,27.50 [517,24],B . . . . . . . . . . . . . . . . . . . . .— Saregama (I) (72.10) 71.45,72.95,70,71.45 [6667,52],Nse-T . . . . . . . . . . . .183.2 Sark Systems (10.04) 10,10.45,10,10.02 [10064,27],B . . . . . . . . . . . . . . . . .40.1 Sarla Perfor (67.50) 69.80,77,69.80,73.10 [128814,1181],Nse . . . . . . . . . . . .6.2 Sarthak Glb. (36.25) 37.60,37.60H,37.60,37.60 [300,2],T . . . . . . . . . . . . . .163.5 Sarthak Inds (38.85) 39,40.70,39,40.65 [900,9],T . . . . . . . . . . . . . . . . . . . . .32.0 Sarup Tanner (46.70) 46.90,50.50,45.20,49.30 [24978,125],S . . . . . . . . . . .25.4 Sasken Comm. (171.70) 170,179.50,168.75,175.45 [1319104,17989],Nse . .8.7 Sat Inds.{2} (32.45) 32.55,33.80,31.95,32.10 [37346,84],S . . . . . . . . . . . . . . . . .9.4 Satra Prop{2} (16.15) 16.60,16.60,15.80,16.35 [56951,70],B . . . . . . . . . . . . . . .6.1 Satvah.Ispat (35.50) 36.45,36.45,35.10,35.45 [7489,58],Nse . . . . . . . . . . . . . .— Satyam Comp{2} (106.25) 106.50,107.45,105,105.20 [11389233,57753],Nse . .6.1 Saurash.Cem. (20.10) 20.50,21.10,20,20.45 [73788,109],B . . . . . . . . . . . . . . .— Saven Techno (6.65) 6.34,6.77,6.32,6.40 [4393,15],B . . . . . . . . . . . . . . . . . . . .— Savera Inds. (39.65) 41,42.75,35,40.95 [3681,61],B . . . . . . . . . . . . . . . . . . . . .— Savita Oil T (378.95) 378,454.75H,368.10,448.60 [199951,7230],Nse . . . . .20.9 Saya Hsg.Fin (3.90) 3.71,3.71,3.71,3.71 [650,3],T . . . . . . . . . . . . . . . . . . . . . .— Sayaji Hotel (70.65) 72,74,70.10,73 [5849,68],T . . . . . . . . . . . . . . . . . . . . . . . .— SB&T Intl. (12.10) 12.70,12.70,11.50,11.50 [12665,62],Nse . . . . . . . . . . . . . .14.2 Scanpoint Ge (46.35) 45.35,46.80,44.05,44.05 [31796,131],T . . . . . . . . . . . . .— Schablona(I){4} (18.10) 17.20,18.95,17.20,18.10 [223,5],B . . . . . . . . . . . . . . . .6.5 Schlaf.Engg. (8.70) 9.13,9.13H,9.13,9.13 [5200,7],T . . . . . . . . . . . . . . . . . . .27.7 Schrader Dun (126) 128,128.05,126.15,127.50 [2028,20],S . . . . . . . . . . . .104.5 SCIL Venture (84) 80,84,80,80 [29,3],B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— Scooters (I) (26.05) 27,27,25.20,25.35 [5796,49],B . . . . . . . . . . . . . . . . . . . . . .— Seamec (230) 228,231.80,227,228.65 [19732,580],Nse . . . . . . . . . . . . . . . . . .3.2 Seasons Fur. (7.65) 7.27,7.30,7.27,7.28 [602,6],B . . . . . . . . . . . . . . . . . . . . .27.0 Seasons Text (6.26) 6.03,6.57,6.03,6.11 [1600,7],S . . . . . . . . . . . . . . . . . . . .13.9 Seax Global (66.80) 64,64.95,63.50,63.50 [18658,91],T . . . . . . . . . . . . . . . .12.9 Secund.Healt (16.90) 16.50,17.30,16.50,17 [1677,36],B . . . . . . . . . . . . . . . .85.0 Sejal Archit (53.30) 54.50,54.60,52.20,52.65 [8108,100],Nse . . . . . . . . . . . .50.1 SEL Mfg. Co. (75) 75.10,76.40,73.10,73.50 [147005,1780],Nse . . . . . . . . . . .2.1 Selan Explor (329.90) 329.80,329.80,319.80,321.25 [29014,1060],Nse . . . .21.4 Sequent Sc. (119.75) 120.25,123,116,116.50 [9653,84],B . . . . . . . . . . . . . . .15.9 Sesha.Paper (143.25) 143.70,148,143,144.30 [1159,33],Nse . . . . . . . . . . . . .6.4 Seshachal Te (13.07) 12.50,13.05,12.42,12.77 [1826,17],T . . . . . . . . . . . . . . .— Setco Automt (156) 152.55,153.10,149,149.90 [2645,9],B . . . . . . . . . . . . . .16.4 SGN Telecoms{1} (0.62) 0.63,0.63,0.51,0.61 [27510,26],B . . . . . . . . . . . . . . . . .— Sh. Nath Com (20.40) 20.80,20.80H,20.80,20.80 [50,1],B . . . . . . . . . . . . . . .52.0 Sh.Ajit Pulp (28.65) 29,29,28.60,28.90 [2307,14],S . . . . . . . . . . . . . . . . . . . . .2.9 Sh.Ashtav.Cn{1} (55.45) 56.70,59.50,55.70,57.10 [605287,3897],Nse . . . . . . .70.5 Sh.Bajrang A (25.15) 26.80,26.80,24.50,25 [4892,36],B . . . . . . . . . . . . . . . .15.4 Sh.Bhawani P (7.72) 8.43,8.43,7.22,8.09 [2359,14],B . . . . . . . . . . . . . . . . . . . .— Sh.Cements (1838.85) 1834.10,1864.75,1833,1851.60 [14843,1936],Nse . . .6.9 Sh.Digv.Cem. (15.95) 15.95,16.45,15.80,16.20 [142709,298],S . . . . . . . . . . . .4.1 Sh.Dinesh Mi (101.15) 102.50,103.85,99,99.75 [2744,71],S . . . . . . . . . . . . . .8.3 Sh.Ganesh Fo (12.61) 12.99,12.99,12.15,12.40 [2319,18],B . . . . . . . . . . . . . .— Sh.Ganesh Sp{1} (5.16) 5.41,5.41H,5.41,5.41 [4010,15],T . . . . . . . . . . . . . . . . .— Sh.Global Tr{5} (431.05) 425,428,390.15,397.55 [43573,529],B . . . . . . . . . . . . .— Sh.Hari Chem (30.15) 30,31.65,29.55,31.30 [3306,29],T . . . . . . . . . . . . . . . . .— Sh.Laksh.Cot (103.50) 104,104.85,102.90,103.30 [33204,485],Nse . . . . . . . .2.2 Sh.Pacetroni (33.60) 33.30,34.95,32.50,32.50 [1101,17],S . . . . . . . . . . . . . .65.0 Sh.Precoated (17.05) 17.10,17.75,16.65,16.95 [299852,1537],Nse . . . . . . . . .— Sh.Rajes.Pap (7.79) 7.08,7.60,7.08,7.60 [4795,7],B . . . . . . . . . . . . . . . . . . . .50.7 Sh.Rajs.Synt (13.40) 14,14,12.80,13.80 [9466,39],S . . . . . . . . . . . . . . . . . . . . .— Sh.Ram Urban (132.70) 142.90,143,131,136.50 [75323,113],B . . . . . . . . . . . .— Sh.Rama Mult{5} (5.95) 6.10,6.15,5.75,5.85 [15553,31],Nse . . . . . . . . . . . . . . . .— Sh.Steel Wir (6.53) 6.85,6.85,6.85,6.85 [471,3],B . . . . . . . . . . . . . . . . . . . . . . .2.7 Sh.Vani Sugr (3.54) 3.60,3.60,3.37,3.37 [2535,13],B . . . . . . . . . . . . . . . . . . . . .— Shah Alloys (24.70) 24.10,24.70,24.10,24.20 [582,23],Nse . . . . . . . . . . . . . . .— Shah Food (31.50) 30.05,30.10,29.95,30 [600,6],B . . . . . . . . . . . . . . . . . . . . .9.0 Shakti Met-D (155) 159.50,160,151.50,153.20 [1370,14],B . . . . . . . . . . . . . . .9.8 Shakti Press (10.08) 10.45,12.09,10.45,12.09+ [30636,133],B . . . . . . . . . . . .2.9 Shakti Pumps (104.90) 104,107.95,101.70,105.65 [17632,212],S . . . . . . . . . .6.5 Shalimar Pai (251.50) 255.10,264H,255,255 [40,6],Nse . . . . . . . . . . . . . . . .16.6 Shalimar Pro{1} (1.31) 1.33,1.44,1.33,1.42 [84570,29],B . . . . . . . . . . . . . . . . . . .— Shamken Cot. (1.92) 1.84,1.84,1.83,1.83 [2300,4],T . . . . . . . . . . . . . . . . . . . . .— Shamken Mult (1.60) 1.64,1.64,1.53,1.53 [1209,5],B . . . . . . . . . . . . . . . . . . . .— Shamken Spin (1.18) 1.28,1.28,1.18,1.22 [11200,8],B . . . . . . . . . . . . . . . . . . .— Shamrock Ind (2.96) 3,3.09,2.82,2.82 [1900,9],B . . . . . . . . . . . . . . . . . . . . . . .— Shanti Gear{1} (45.30) 45.95,46,43.55,43.80 [113369,1043],Nse . . . . . . . . . . .12.0 Shantivijay (200) 200,200,200,200 [3,1],S . . . . . . . . . . . . . . . . . . . . . . . . . . .93.9 Shardul Sec. (95.70) 95,100.45,92.10,93.50 [34024,181],B . . . . . . . . . . . . . .37.4 Sharon Bio-M (83.40) 81,87.85,67.25,81.85 [7580,57],S . . . . . . . . . . . . . . . .10.5 Sharp (I) (31.55) 31.50,31.95,30,30 [6478,41],T . . . . . . . . . . . . . . . . . . . . . .130.4 Sharyans Res (84) 83,83.20,80.35,82.50 [1614,50],Nse . . . . . . . . . . . . . . . . . .— Shasun Chem.{2} (36.70) 36.05,37.60,35.55,36.25 [27928,244],Nse-T . . . . . . . .— Sheetal Bio{1} (0.63) 0.64,0.66,0.60,0.66 [19000,11],B . . . . . . . . . . . . . . . . . . . .— Shetron (32.15) 33.75,33.75,33.75,33.75 [2495,16],B . . . . . . . . . . . . . . . . . . . .— Shilp Gravur (42.65) 43,44,41.35,42.60 [4376,59],S . . . . . . . . . . . . . . . . . . . .8.9 Shilpa Medi.{2} (186.35) 184,184,184,184 [225,4],Nse . . . . . . . . . . . . . . . . . . .21.9 Shimoga Tech{1} (0.46) 0.45,0.48,0.44,0.48 [21182,16],B . . . . . . . . . . . . . . . . . .— Shirpur Gold (150.75) 148.50,150.90,143.55,145.35 [56029,1060],B . . . . . . . .— Shiv-Vani Oi (331) 333.40,336.80,328,329.95 [31003,943],Nse . . . . . . . . . . .8.7 Shiv.Bimetal{2} (28.05) 28.95,30.45H,27.60,28.35 [903997,856],B . . . . . . . . .14.2 Shiva Cement{2} (9.61) 9.15,9.92,9.13,9.74 [1161172,1539],T . . . . . . . . . . . . .60.9 Shiva Fert. (51.55) 49,49,49,49 [1555,13],B . . . . . . . . . . . . . . . . . . . . . . . . . .16.4 Shiva Texyar (29.05) 27.30,30.40,27.30,29.55 [1222,19],Nse . . . . . . . . . . . .18.8 Shivam Autot (90.70) 90.90,92.80,90.30,90.65 [4892,107],Nse . . . . . . . . . . .11.6 Shoppers’ St (389.70) 394.40,406,383.10,386.45 [108419,4027],Nse . . . . . . .— Shr.Maha.Sug{1} (0.47) 0.46,0.53,0.46,0.48 [40039,23],B . . . . . . . . . . . . . . . . . .— Shreejal Inf{1} (0.48) 0.46,0.46,0.46,0.46 [700,2],B . . . . . . . . . . . . . . . . . . . . . . .— Shrenuj & Co{2} (34.55) 33.80,35.45,33.65,33.70 [3848,85],Nse . . . . . . . . . . . .8.7 Shreyans Ind (29.30) 28.10,28.10,28.10,28.10 [322,3],Nse . . . . . . . . . . . . . . .1.9 Shreyas Inte (19) 18.55,19.95,18.10,18.10 [54324,78],B . . . . . . . . . . . . . . . . .— Shreyas Sh&L (33) 33,33.45,32.25,32.95 [5451,48],Nse . . . . . . . . . . . . . . . . .—
. . . . . .11/6 . . . . . .23/5 . . . . . .27/7 . . . .182/18 . . . .246/80 . . . . . .29/7 . . .238/105 . . . . . .19/7 . . .518/174 . . . . .32/16 . . . . . .38/9 . . . . .40/16 . . . . . . .5/1 . . . .238/60 . . . . . . .8/2 . . . . .32/10 . . . . .45/11 . . . . . . .1/1 . . . . .95/13 . . . . . . .4/1 . . . . . . .1/1 . .1087/500 . . .190/152 . . . . . . .5/3 . . . . .32/15 . . . .125/39 . . . . . .34/7 . . . . .79/23 . . . . .38/17 . . . . .47/17 . . . . .53/26 . . . .185/35 . . . . .39/13 . . . . . .30/11 . . . . .42/15 . . . . .232/6 . . . . .34/11 . . . . . . .8/2 . . . . .46/18 . . . .455/99 . . . . . . .6/3 . . . . .94/25 . . . . . .13/6 . . . . . .50/2 . . . . .22/14 . . . . . . .9/3 . . . .162/63 . . . . .92/44 . . . . .39/11 . . . .249/34 . . . . . .11/3 . . . . . . .9/3 . . . . .94/10 . . . . .43/16 . . . . .67/19 . . . . .111/37 . . . .378/99 . . . .127/26 . . . .161/60 . . . . . .19/4 . . .175/115 . . . . . . .1/1 . . . . .21/16 . . . . .30/15 . . . . .88/49 . . . . .37/12 . . . . . . .9/4 . .1925/436 . . . . . .23/5 . . . .123/50 . . . . . .20/5 . . . . . . .5/1 . . .474/195 . . . . . .35/7 . . . .109/21 . . . . .51/21 . . . . .44/13 . . . . . .29/7 . . . . . .17/4 . . . .190/39 . . . . . . .7/3 . . . . . .11/4 . . . . . . .4/2 . . . . .35/11 . . . . .55/25 . . . .163/66 . . . . . .25/4 . . . .122/55 . . .264/140 . . . . . . .2/1 . . . . . . .3/1 . . . . . . .2/1 . . . . . . .2/1 . . . . . . .5/1 . . . . .58/24 . . . .218/90 . . . .120/26 . . . . .92/26 . . . . . .32/9 . . . . .97/42 . . . . . .42/11 . . . . . . .1/1 . . . . .40/14 . . . . .49/18 . . .207/182 . . . . . . .1/1 . . . .224/43 . . . .395/88 . . . . . .30/8 . . . . . .12/4 . . . . .63/22 . . . . .31/11 . . . .104/28 . . . .415/76 . . . . . . .1/1 . . . . . . .1/1 . . . . .43/12 . . . . .37/16 . . . . . .31/8 . . . . .47/16
m
W
Shriram Asse (24.95) 23.75,23.75,23.75,23.75 [200,2],B . . . . . . . . . . . . . . . . .— Shriram City (403.35) 400,405,400,405 [209,15],Nse . . . . . . . . . . . . . . . . . .11.1 Shriram EPC (216.20) 214,217.10,210.10,211.10 [6298,279],Nse . . . . . . . . .21.5 Shristi Infr (240.35) 245,245,237.15,240.55 [111,12],B . . . . . . . . . . . . . . . . . . .— Shukra Jewel (2.83) 2.76,2.97,2.76,2.97 [1000,8],T . . . . . . . . . . . . . . . . . . . . .— Shukun Cons.{1} (0.69) 0.76,0.76,0.69,0.71 [33645,46],B . . . . . . . . . . . . . . . . . .— Shyam Star G (21.80) 22,22.45,21.30,21.50 [2892,18],B . . . . . . . . . . . . . . . . .4.2 Shyam Teleco (78.75) 82.35,82.70,74.85,75.40 [40019,403],Nse . . . . . . . . . . .— Sicagen (I) (13.25) 13.60,13.60,12.80,13.15 [30444,129],Nse . . . . . . . . . . . . .5.2 Sical Logist (72.05) 72.80,73.45,70.10,70.50 [65973,655],Nse . . . . . . . . . . .53.4 Siddha Vent. (2.25) 2.16,2.16,2.14,2.14 [2800,7],B . . . . . . . . . . . . . . . . . . . . . .— Siddharth Tu (10.01) 9.51,9.51,9.51,9.51 [350,5],T . . . . . . . . . . . . . . . . . . . . . .— Siemens Heal (1045.35) 1044.95,1081,1044,1069.40 [2891,157],B . . . . . . .31.6 Sika Inter. (34) 33.60,36.55,33.50,33.75 [285,11],B . . . . . . . . . . . . . . . . . . . .10.2 Sikozy Realt (16.40) 16,17.20,15.60,15.61 [2350,13],B . . . . . . . . . . . . . . . . .20.8 SIL Invt. (93.35) 93.45,93.45,92,92.80 [4508,33],Nse . . . . . . . . . . . . . . . . . . .13.8 Silicon Vall{1} (0.63) 0.66,0.66,0.61,0.65 [28902,21],B . . . . . . . . . . . . . . . . . . . .— Silktex Ltd. (13.15) 13.41,14.30,13,13.50 [1251,16],S . . . . . . . . . . . . . . . . . . . .— Silver Smith (29.90) 30,30.95,29,29.05 [8864,36],TS . . . . . . . . . . . . . . . . . . . .— Silverline A (14.96) 15.95,15.95,13,13.83 [32180,265],B . . . . . . . . . . . . . . . .60.1 Silverline T (6.45) 6.50,6.60,6.30,6.37 [260970,563],B . . . . . . . . . . . . . . . . .17.2 Simbhaoli Su (69.90) 71.75,72.50,70.65,71.45 [46395,317],Nse . . . . . . . . . . .2.1 Simmonds-Mar (111.95) 117.50,117.50,112.10,112.10 [1100,32],B . . . . . . . .10.6 Simplex Cast (79.70) 82.50,82.50,78,78.50 [2385,27],B . . . . . . . . . . . . . . . . .4.9 Simplex Infr{2} (520.90) 520,531.20,508.85,527.65 [6130,397],Nse . . . . . . . .24.0 Simplex Mill (26.50) 26.50,26.50,25.25,25.25 [52,2],B . . . . . . . . . . . . . . . . . . .— Simplex Pap. (13.55) 14.22,14.22,13.55,13.55 [226,8],B . . . . . . . . . . . . . . . . .— Simplex Proj (227.95) 223.10,227,216.65,216.65 [569,25],Nse-T . . . . . . . . .12.2 Simplex Real (280.35) 278.20,286.45,270,272.70 [1450,68],B . . . . . . . . . . . .0.9 Simran Farms (16.15) 16.80,16.80,16.05,16.69 [930,12],B . . . . . . . . . . . . . . .2.7 Sinclairs Ht (179.95) 184.90,184.90,184.90,184.90 [1,1],S . . . . . . . . . . . . . .34.0 Singer (I) (35.10) 35.25,37,35.25,35.70 [4037,43],B . . . . . . . . . . . . . . . . . . . . .1.4 Sir ShadiLal (138.85) 139,139,136.95,139 [310,9],B . . . . . . . . . . . . . . . . . . . .3.9 Sirpur Paper (54.45) 54.20,55.20,54,54.40 [4309,59],Nse . . . . . . . . . . . . . . . .7.4 Sita Shree F (9.05) 9.40,9.40,8.85,9.20 [19600,90],Nse . . . . . . . . . . . . . . . . . .— Siyaram Silk (145.65) 143.60,143.60,140.45,141.85 [1570,30],Nse . . . . . . . .6.7 SJ Corp{1} (585.70) 597.40,597.40,597.40,597.40 [17,5],B . . . . . . . . . . . . . . .34.2 SKF India (341.30) 342,394.90H,341,363.05 [1121340,30268],Nse . . . . . . .24.1 SKM Egg.Prod (20.05) 19.10,20.30,19.10,19.75 [6417,36],Nse . . . . . . . . . . . .— SKS Logistic (18.30) 18.40,18.40,17.65,18 [2255,12],S . . . . . . . . . . . . . . .128.6 Sky Inds. (106) 108,108,104.05,105 [1742,26],S . . . . . . . . . . . . . . . . . . . . . .29.8 Skyline Mill{1} (7.88) 7.37,9.45,7.05,7.35 [1781,14],B . . . . . . . . . . . . . . . . . . . .8.8 Smartlink Ne{2} (47.60) 48,48,46.50,46.95 [18429,119],Nse . . . . . . . . . . . . . .10.5 SMIFS Cap.Ma (33.50) 34.90,34.90,32.10,32.10 [30,2],B . . . . . . . . . . . . . . .139.6 Smruthi Org. (76.10) 76.10,79.70,76.10,78.65 [3634,24],S . . . . . . . . . . . . . .14.1 SMS Pharma (158.50) 160,162.90,150.25,155.15 [8891,243],Nse . . . . . . . . .5.7 SNL Bearings (15.81) 15.10,16.60,15.04,16.60 [37700,18],T . . . . . . . . . . . . . .— SNS Textiles (3.19) 3.29,3.29,3.29,3.29 [1000,1],B . . . . . . . . . . . . . . . . . . . . . .— Sobha Develp (227.95) 227.10,234.75,225,232.65 [367640,6417],Nse . . . . .41.5 Socrus Bio (3.21) 3.74,3.85,3.21,3.78+ [29212,71],B . . . . . . . . . . . . . . . . . . . .— Softpro Sys. (278.70) 270,280,250.85,254.45 [20553,158],Nse . . . . . . . . .174.3 Softsol (I) (55.10) 56.95,56.95,54.60,54.75 [1692,45],S . . . . . . . . . . . . . . . . . .4.6 Software Tec (8.83) 8.55,8.55,8.01,8.18 [5395,21],B . . . . . . . . . . . . . . . . . . .16.4 Solar Inds. (424.35) 424,424,414.05,418.05 [4469,85],Nse . . . . . . . . . . . . . .14.1 Solectron EM (40.55) 39.05,41,38.60,40.70 [424,7],Nse . . . . . . . . . . . . . . . .28.1 Solid Stone (68.80) 71.95,75.65,67.15,74.05 [5710,27],B . . . . . . . . . . . . . . .64.4 Solitair Mac (10.06) 9.63,10.19,9.63,10.19 [201,2],B . . . . . . . . . . . . . . . . . . . . .— Solix Tech. (24) 24.30,24.50,23.60,23.60 [240,3],B . . . . . . . . . . . . . . . . . . . . .5.5 Solvay Pharm (1701.75) 1940,1940H,1599.80,1620.15 [6051,237],B . . . . . .22.5 Som Datt Fin (9.64) 10.11,10.11,10.11,10.11 [51,2],B . . . . . . . . . . . . . . . . . .18.1 Som Distill. (25.05) 23.95,25.55,23.95,24.30 [5551,52],B . . . . . . . . . . . . . . . .6.6 Soma Textile (10.90) 10.90,11.30,10.90,11.05 [222991,780],Nse . . . . . . . . . . .— Somany Ceram (120) 115.30,118,115.25,115.65 [1841,4],B . . . . . . . . . . . . . .6.3 Somi Convey. (13.95) 13.30,14.50,13.30,13.99 [12244,30],B . . . . . . . . . . . .10.1 Sona Koyo St{1} (16.40) 16.40,16.80,16,16.20 [128645,334],Nse . . . . . . . . . . . .— Sonata Soft.{1} (42) 42.10,43.75,41.10,41.35 [541593,3612],Nse . . . . . . . . . . .5.7 South. Onlin (20.60) 21.60,21.60,21.60,21.60 [91922,30],T . . . . . . . . . . . . .47.0 Southn.Ispat (35) 35.50,36.05,33.30,35.20 [112305,177],S . . . . . . . . . . . . . .15.6 Sovereign Di (3.49) 3.66,3.66,3.32,3.37 [6825,21],B . . . . . . . . . . . . . . . . . . . . .— Sowbhagya Me (55.65) 58.40,58.40H,54.40,54.40 [180,3],T . . . . . . . . . . . . . .— Sp.Paper (19) 18.60,20,18.50,18.65 [4729,37],B . . . . . . . . . . . . . . . . . . . . . .10.6 Span Diagnos (72.95) 73,73,69.50,69.60 [541,13],S . . . . . . . . . . . . . . . . . . . .8.0 Spanco (60.05) 60,61.20,59.10,59.40 [11212,66],S . . . . . . . . . . . . . . . . . . . . .5.8 Sparc System (6.94) 6.11,6.90,6.11,6.32 [4501,14],B . . . . . . . . . . . . . . . . . . . .— Sparsh BPO S (43.90) 42.50,43.40,42,42.30 [705,11],T . . . . . . . . . . . . . . . . . .— Spectacle In{1} (76.10) 76.05,77.95,75.90,76 [724119,465],B . . . . . . . . . . . .690.9 Spectra Ind. (9.75) 9.36,10.20,9.30,9.34 [2497,24],B . . . . . . . . . . . . . . . . . . . .— Spel Semicon (17.15) 17.65,17.70,16.70,16.70 [25482,107],B . . . . . . . . . . .14.8 Spenta Intl. (15.98) 15.98,16.50,15.19,15.91 [1114,8],B . . . . . . . . . . . . . . . . . .3.1 Spentex Inds (12.50) 13,13,12.05,12.40 [15298,47],Nse-T . . . . . . . . . . . . . . . .— SPIC (16.95) 16.80,17.10,16.50,16.75 [67507,246],Nse-T . . . . . . . . . . . . . . . . .— Spice Island (16.25) 16.95,17.45,16.50,17.10 [8593,42],S . . . . . . . . . . . . . . .15.3 Spice Mobile{3} (28.90) 28.15,30.30,28.15,30 [250852,803],Nse . . . . . . . . . . . .7.8 Spicejet (54.35) 54.50,54.90,51.60,52.10 [2611760,7360],B . . . . . . . . . . . . . . .— SPL Inds. (11.35) 11.35,11.90,10.80,11.50 [2074,8],Nse-T . . . . . . . . . . . . . . . .— Splash Media (498.20) 523.10,523.10H,476,486.30 [1947,31],B . . . . . . . . .810.5 SPS Intl. (5.11) 5.11,5.11,4.86,4.86 [338,10],B . . . . . . . . . . . . . . . . . . . . . . . .22.1 SQL Star Int (17.40) 17.10,18.27,16.75,18.06 [39947,236],S . . . . . . . . . . . . . .— Sr.Ray.Alkal (13.51) 13.50,13.80,13.50,13.55 [30125,61],B . . . . . . . . . . . . . . .5.7 Sr.Rayl.Hi-S (32.25) 31.15,33.50,31.15,31.85 [1778,4],Nse . . . . . . . . . . . . . . .3.6 Sr.Sakth.Pap (17.95) 21,21,18.15,19 [80613,282],B . . . . . . . . . . . . . . . . . . .12.0 SREI Infra. (79.35) 79.85,80.50,77.55,77.85 [401270,2777],Nse . . . . . . . . . .11.6 SRF (192.55) 193.45,194.40,191.05,191.70 [115904,2382],Nse . . . . . . . . . . .5.4 SRF Polymers (265) 252.60,260,252.55,260 [280,11],S . . . . . . . . . . . . . . . . .5.0 SRHHL Inds. (4.20) 4.40,4.40,4.05,4.20 [7727,14],Nse . . . . . . . . . . . . . . . . . . .— Sri Adhikari (36.35) 39,39,36.50,36.85 [107438,1056],Nse . . . . . . . . . . . . . . . .— Sri Ganapath (16.90) 17.70,17.70,16.10,16.15 [106,6],B . . . . . . . . . . . . . . . . .— Sri Jayalaks (1.66) 1.67,1.67,1.50,1.62 [6410,11],B . . . . . . . . . . . . . . . . . . . . .— Sri Lak.Sar. (16.42) 17.24,17.24H,15.70,15.97 [606,8],S . . . . . . . . . . . . . . . . . .— Sri Nachamai (12.80) 12.85,13.44,12.46,13.22 [18184,39],TS . . . . . . . . . . . . .— Sri Ramk.Mil (22.15) 21.20,21.75,21.05,21.75 [1591,12],S . . . . . . . . . . . . . . .1.5 Srinivasa Ha (89.20) 90,91,88,88 [1180,7],S . . . . . . . . . . . . . . . . . . . . . . . . . .7.0 Sriven Multi (1.20) 1.24,1.26,1.15,1.26 [9200,23],Z . . . . . . . . . . . . . . . . . . . . . .— SRM Energy (19.80) 19.50,19.75,19.25,19.75 [1000,4],T . . . . . . . . . . . . . . . . .— SS Forg Forg (4.01) 4.21,4.21,3.89,4.07 [5500,16],T . . . . . . . . . . . . . . . . . . . .— SSPDL (27.90) 27.35,28.50,27.15,27.35 [7584,33],S . . . . . . . . . . . . . . . . . . .49.7 Star Paper (32) 31.25,32.25,31.25,31.95 [1948,15],Nse . . . . . . . . . . . . . . . . . .3.4 State Bnk Bi (474.85) 480,480,466.75,468.10 [1667,93],Nse . . . . . . . . . . . . .5.1 State Bnk My (720.45) 716,727.50,710,719.90 [2621,137],Nse . . . . . . . . . . . .6.3 State Bnk Tr (558.10) 560,570,555,567.20 [5620,166],Nse . . . . . . . . . . . . . . .3.8 STC India (332.05) 332.50,341.70,330.20,333.20 [116517,3049],Nse . . . . . .26.5 Std.Indust.{5} (25.90) 25.55,27.25,25.55,26.70 [117170,328],Nse . . . . . . . . . . .2.1 Steel Exchan (31.70) 32.90,33,31.40,31.90 [15858,114],S . . . . . . . . . . . . . . . .— Steel Strips (15.45) 14.75,16.20,14.75,16.20 [2100,4],T . . . . . . . . . . . . . . . .28.4 Steelcast (102.75) 99.05,99.20,99.05,99.15 [395,5],B . . . . . . . . . . . . . . . . . . . .— Steelco Guj. (8.33) 7.77,8.77,7.77,8.10 [17451,41],B . . . . . . . . . . . . . . . . . . . .— Stelco Strip (14.45) 14.10,14.99,14.10,14.80 [1229,21],B . . . . . . . . . . . . . . . .3.5 Sterl.Enterp (27.50) 26.15,26.15,26.15,26.15 [5893,39],B . . . . . . . . . . . . . . . . .— Sterl.Hol.Re (65.10) 64,64.60,62,62.35 [32140,112],S . . . . . . . . . . . . . . . . . . . .— Sterl.Strips (7.04) 6.69,7.39,6.69,7.38 [3600,8],T . . . . . . . . . . . . . . . . . . . . . . .—
. . . . . .27/9 . . .460/279 . . . .264/77 . . .465/219 . . . . . . .4/2 . . . . . . .1/1 . . . . . .30/6 . . . . .93/35 . . . . . .16/3 . . . . .80/19 . . . . . . .3/1 . . . . . .12/4 . .1353/355 . . . . .48/12 . . . . . .18/6 . . . .101/31 . . . . . . .1/1 . . . . . .19/8 . . . . . .35/8 . . . . . .17/5 . . . . . .15/5 . . . . .77/15 . . . .122/21 . . . . .91/26 . . .558/104 . . . . . .38/7 . . . . .23/10 . . . .259/32 . . . .400/79 . . . . . .19/4 . . .192/125 . . . . .52/12 . . . .165/46 . . . . .62/28 . . . . . .16/5 . . . .172/44 . . . .816/52 . . .395/129 . . . . .32/12 . . . . .26/10 . . . .115/47 . . . . . . .11/5 . . . . .78/30 . . . . .45/25 . . . . .84/34 . . . .183/74 . . . . . .18/6 . . . . . . .4/2 . . . .308/61 . . . . . . .4/2 . . . .316/44 . . . . .73/22 . . . . . .16/5 . . .434/180 . . . . .52/16 . . . .132/45 . . . . . .14/8 . . . . . .29/8 . .1940/491 . . . . . .14/7 . . . . . .33/8 . . . . . .35/9 . . . .125/38 . . . . . .16/8 . . . . . .19/5 . . . . .47/13 . . . . . .27/7 . . . . . .42/6 . . . . . . .6/3 . . . . .58/15 . . . . . .25/8 . . . . .86/32 . . . . .72/15 . . . . . .13/4 . . . . .55/22 . . . . .82/17 . . . . . .15/5 . . . . . .21/8 . . . . . .17/4 . . . . . .15/3 . . . . . .19/5 . . . . . .20/4 . . . . . .31/9 . . . . .59/12 . . . . . .13/4 . . . .523/35 . . . . . . .6/3 . . . . . .24/6 . . . . . .21/9 . . . . .43/15 . . . . . .22/9 . . . . .89/22 . . . .222/62 . . .289/100 . . . . . . .6/3 . . . . . .43/9 . . . . . .22/5 . . . . . . .2/1 . . . . . .17/7 . . . . . .13/6 . . . . .24/11 . . . . .99/46 . . . . . . .2/1 . . . . .30/11 . . . . . .17/4 . . . . .44/12 . . . . .35/14 . . .538/378 . . .735/550 . . .605/484 . . . .430/87 . . . . . .32/8 . . . . .47/11 . . . . . .23/5 . . . .109/42 . . . . . .10/3 . . . . . .19/7 . . . . . .66/8 . . . . .72/17 . . . . . .25/5
m Sterl.Tools (75.35) 74,74.85,71.50,72.50 [3136,63],Nse . . . . . . . . . . . . . . . . . .— Sterling Int{1} (108) 110,110,108.30,110 [386,4],S . . . . . . . . . . . . . . . . . . . . . .44.7 Sterlite Tec{5} (308.15) 311,312.80,305,305.90 [27585,765],Nse . . . . . . . . . . .11.3 Stewarts (92) 89.50,89.50,89.50,89.50 [4,1],S . . . . . . . . . . . . . . . . . . . . . . . .50.6 STI (I) (7) 7,7.35,6.75,6.75 [3040,15],Nse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .— STL Global (9) 8.80,9,8.40,8.65 [1950,14],Nse . . . . . . . . . . . . . . . . . . . . . . . . .— Stl.Strips W (100.10) 98.90,100.50,98.10,98.10 [496,12],Nse . . . . . . . . . . . .32.4 Stl.Tubes (I (2.40) 2.50,2.50,2.30,2.45 [8983,12],Nse . . . . . . . . . . . . . . . . . . . .— Stock Net In (2.35) 2.46,2.46,2.24,2.24 [600,3],T . . . . . . . . . . . . . . . . . . . . . . .— Stone India (59.15) 59.25,60.85,56.50,56.65 [53216,375],S . . . . . . . . . . . . . . .— Store One Re (27.05) 27.80,27.80,26.25,26.45 [7481,75],Nse . . . . . . . . . . . . .— Stovac Ind. (261.05) 242,271.95,242,263.70 [2631,78],B . . . . . . . . . . . . . . . .6.0 Stresscrete (15.97) 15.18,15.18,15.18,15.18 [100,1],B . . . . . . . . . . . . . . . . . . .— Strides Arco (227.90) 223.30,236,223.25,226.25 [104000,2074],Nse . . . . . .12.8 Sturdy Inds.{2} (4.19) 4.14,4.28,4.10,4.10 [14129,38],B . . . . . . . . . . . . . . . . . . .4.4 Su-raj Diamn (47.15) 47.50,47.80,46.35,46.55 [14777,172],Nse . . . . . . . . . . .5.9 Suashish Dia (304.95) 302.25,317.90,302.25,306.30 [4412,104],B . . . . . . . . .— Suave Hotels (40.50) 40.50,42.50,40.50,42.50 [12013,31],B . . . . . . . . . . . .151.8 Subex (80.20) 82,84,81.10,83.30 [474815,4160],Nse . . . . . . . . . . . . . . . . . . . .— Subhash Proj{2} (142.80) 144.50,144.50,140.25,140.95 [12777,359],Nse . . . .21.5 Subhkam Cap. (690) 710,724,705,720 [1441,13],B . . . . . . . . . . . . . . . . . . . .97.8 Subros{2} (42.40) 42.20,43.20,41.90,42.15 [49017,541],Nse . . . . . . . . . . . . . .21.4 Sudal Inds. (46.50) 45.90,46,45.90,45.95 [705,9],B . . . . . . . . . . . . . . . . . . . . .3.3 Sudarsh.Chem (338) 330,334,328,328 [458,9],Nse . . . . . . . . . . . . . . . . . . . . .7.9 Suditi Inds. (6.17) 5.89,5.89,5.87,5.87 [2000,7],T . . . . . . . . . . . . . . . . . . . . . . .5.5 Sugal&Dam.Sh (16.70) 16.70,16.70,16.70,16.70 [1,1],B . . . . . . . . . . . . . . . . . .— Sujana Metal{5} (25.80) 25.75,26.10,25.40,25.95 [492504,575],B . . . . . . . . . . .6.9 Sujana Tower{5} (51.60) 51.90,52.85,50.25,50.95 [85225,274],Nse . . . . . . . . .13.3 Sujana Univ. (9.10) 9.10,9.15,8.95,9 [15671,69],Nse . . . . . . . . . . . . . . . . . . . .3.8 Sukjit Strch (104.45) 102.60,104,96.75,100.15 [2002,26],S . . . . . . . . . . . . . .10.4 Sulzer (I) (860.60) 880,880,845,849.85 [341,35],S . . . . . . . . . . . . . . . . . . . . . .8.9 Sumedha Fisc (16.50) 15.05,16.35,15,15.20 [11790,25],B . . . . . . . . . . . . . . .3.1 Sumeet Inds. (19.08) 19.60,19.65,18.01,18.13 [134333,592],S . . . . . . . . . . . .8.9 Sumeru Inds.{1} (0.70) 0.73,0.73,0.73,0.73 [950,1],B . . . . . . . . . . . . . . . . . . . . .— Summit Sec. (14.20) 14.10,14.55,14.05,14.10 [24937,141],Nse . . . . . . . . . . . .— Sun Ph.ARC{1} (85.70) 86.40,89.30,85.10,87.15 [589843,7337],Nse . . . . . . . . .— Sundaram Bra (177) 175,182.90,175,178 [788,17],Nse . . . . . . . . . . . . . . . . .19.9 Sundaram Cly{5} (109.25) 112,112,108,108.55 [5655,39],Nse . . . . . . . . . . . . . .— Sundaram Fin (346.65) 344.15,376.90,340,352.85 [73121,2747],Nse . . . . . .9.9 Sundaram Fst{1} (54) 53.50,54.75,53.20,54.25 [69707,552],Nse . . . . . . . . . . .36.4 Sundaram Mul{1} (36.35) 36.90,37,35.85,36.55 [165231,231],TS . . . . . . . . . .54.6 Sunday Expor (3.64) 3.47,3.47,3.46,3.46 [300,2],T . . . . . . . . . . . . . . . . . . . . . .— Sunflag Iron (25.40) 25.35,25.85,25.25,25.40 [127710,336],Nse . . . . . . . . . . .8.0 Sungold Cap. (6) 6.30,6.30,6.30,6.30 [600,3],B . . . . . . . . . . . . . . . . . . . . . . .35.0 Sunil Agro F (12.50) 11.96,12.01,11.96,12.01 [2,2],S . . . . . . . . . . . . . . . . . . .22.7 Sunil Hitech (176.95) 177.90,181.95,175,176.85 [14950,413],Nse . . . . . . . .12.3 Sunitee Chem{1} (0.66) 0.67,0.70,0.65,0.66 [30979,21],B . . . . . . . . . . . . . . . . . .— Sunraj Diam. (10.75) 10.25,10.28,10.25,10.28 [1200,4],T . . . . . . . . . . . . . . . . .— Sunshield Ch (43.25) 44.20,45.20,44,44.65 [5172,46],B . . . . . . . . . . . . . . . . .6.6 Sunteck Real{2} (526.50) 529.20,530,505,508.65 [67042,998],Nse . . . . . . . .164.6 Super Bakers (5.70) 5.50,5.50,5.50,5.50 [3300,2],B . . . . . . . . . . . . . . . . . . . . .— Super Crop. (10.25) 11.50,12.30H,11.09,12.28 [117286,253],B . . . . . . . . . . . .7.0 Super Sales (171.10) 179,188.20H,179,188.15 [42946,266],S . . . . . . . . . . . .9.8 Super Spin.{1} (11.65) 11.10,11.45,11.10,11.20 [22563,68],Nse-T . . . . . . . . . . . .— Super Tanner{2} (6.67) 7,7,6.05,6.74 [16463,28],B . . . . . . . . . . . . . . . . . . . . . . .5.3 Superhouse (43) 44,45.50H,40.50,41.40 [16412,118],B . . . . . . . . . . . . . . . . .4.4 Supertex Ind{1} (3.30) 3.60,3.60,3,3.20 [451202,497],B . . . . . . . . . . . . . . . . . . .5.4 Suprajit Eng{5} (96.80) 95.05,97.80,94.65,94.95 [5202,48],Nse . . . . . . . . . . . . .7.8 Supreme Hold (22.55) 23,23,21.45,21.45 [764,10],B . . . . . . . . . . . . . . . . . . . .— Supreme Inds (319.65) 327,347,316,329.90 [338942,12199],Nse . . . . . . . . .7.8 Supreme Infr (166) 164.50,167.50,160.85,165.40 [30673,581],Nse . . . . . . . .8.8 Supreme Petr (27.05) 27,28.40,26.90,27.05 [44895,213],Nse . . . . . . . . . . . . .8.3 Supreme Tex{5} (8.50) 8.50,8.95,8.50,8.95 [350,2],Nse . . . . . . . . . . . . . . . . . . . .— Suraj Stainl (68.10) 70,79.90,66.75,72.10 [98625,651],S . . . . . . . . . . . . . . . .93.6 Surana Corp. (36.60) 35.70,36.95,35.55,35.75 [1950,4],Nse . . . . . . . . . . . . . .3.4 Surana Inds. (156.85) 157.50,157.50,154.40,155.75 [2813,32],Nse . . . . . . . .9.5 Surana Tele{5} (38.65) 37.55,38.80,37.55,38.50 [16553,33],Nse . . . . . . . . . . .26.9 Surat Text.{1} (4.86) 5.10,5.48,4.90,5.27 [37823,134],B . . . . . . . . . . . . . . . . . .14.6 Surya Pharma (133.65) 135,137.80,131,132.55 [42705,1055],Nse . . . . . . . . .3.3 Surya Roshni (57.95) 59.50,59.50,57.20,57.60 [22830,333],Nse . . . . . . . . . .6.5 Suryaamba Sp (28.55) 28.45,29.50,28.05,28.80 [2560,22],B . . . . . . . . . . . .72.0 Suryach.Powr (21.90) 22.90,22.90,21.25,21.50 [563406,1986],B . . . . . . . .102.4 Suryajyoti S (23.20) 24,24,22.30,22.35 [491,11],Nse . . . . . . . . . . . . . . . . . . .14.0 Suryalata Sp (44.50) 46.90,52.50H,45.05,51.40 [32509,224],S . . . . . . . . . . . .4.5 Suryava Spin (18.90) 18.90,18.99H,18,18.44 [11284,33],TS . . . . . . . . . . . . . .— Surylak.Cott (36.80) 36.80,36.90,35.30,36.15 [3250,25],Nse . . . . . . . . . . . . . .— Sutlej Text. (115.10) 112.10,115.90,112.10,115.90 [690,10],Nse . . . . . . . . . . . .— Suven Life{1} (28.40) 28.60,29.85,28.05,29.85 [221233,567],Nse . . . . . . . . . .64.9 SVC Superche (1.21) 1.16,1.25,1.15,1.18 [58515,42],B . . . . . . . . . . . . . . . . . .— Swan Energy{2} (170.55) 170,174,164.35,170.25 [53992,473],B . . . . . . . . . . . .— Swaraj Engin (327.90) 325,333,320,328.35 [4715,201],Nse . . . . . . . . . . . . .13.7 Swaraj Mazda (302.25) 317.40,317.40H,312,317.40 [24938,165],Nse-T . . . . .— Swas.Vin.Gem{1} (4.72) 4.70,4.89,4.55,4.61 [29953,55],B . . . . . . . . . . . . . . . .22.0 Swasti Vin.S{1} (2.03) 2,2.19,2,2.05 [6298,12],B . . . . . . . . . . . . . . . . . . . . . . . . .— Swastika Inv (45.55) 49.90,49.90,43.60,44.35 [2120,20],B . . . . . . . . . . . . . .12.4 Swiss Glass (36.30) 35.55,37.15,35.55,36.05 [1132,15],B . . . . . . . . . . . . . . .10.1 Sybly Inds.{1} (0.67) 0.68,0.70,0.67,0.69 [84415,51],S . . . . . . . . . . . . . . . . . . . .— Sylph Tech. (7.35) 7.35,7.71,7.30,7.71 [2000,6],T . . . . . . . . . . . . . . . . . . . . .14.5 Symphony Com (150.15) 148,154.40,147.20,150.15 [1103,23],B . . . . . . . . . .2.4 Syncom Form. (24.05) 24.50,24.60,23.50,24.10 [9455,64],S . . . . . . . . . . . . . .— Syschem (I){1} (1.01) 1.06,1.06H,0.97,1.03 [254035,133],B . . . . . . . . . . . . . . . .— Systematix C (28.60) 30,30,27.85,30 [52,3],B . . . . . . . . . . . . . . . . . . . . . . . . . .—
W
THE ECONOM C T MES TUESDAY 15 DECEMBER 2009
m
. . . . .85/28 . . . .283/89 . . . .335/44 . . . .121/38 . . . . . .10/5 . . . . . .13/5 . . . .107/31 . . . . . . .3/1 . . . . . . .3/1 . . . . .63/17 . . . . .41/10 . . . .275/64 . . . . . .16/7 . . . .248/56 . . . . . . .7/3 . . . . .56/17 . . . .395/96 . . . . .49/10 . . . . .96/19 . . . .180/36 . . .795/110 . . . . .50/14 . . . . . .59/8 . . . .350/87 . . . . . .10/4 . . . . . .19/6 . . . . . .27/5 . . . . . .62/8 . . . . . .10/3 . . . .128/85 . .1063/457 . . . . . .18/6 . . . . . .21/5 . . . . . . .1/1 . . . . . .17/4 . . . . .98/36 . . . .219/86 . . . .129/24 . . .398/147 . . . . .55/13 . . . . . .38/4 . . . . . . .6/2 . . . . . .28/9 . . . . . .23/5 . . . . . .20/9 . . . .198/48 . . . . . . .1/1 . . . . . .15/5 . . . . .56/10 . . .589/505 . . . . . . .7/4 . . . . . .12/6 . . . .188/26 . . . . . .13/4 . . . . . . .8/3 . . . . .46/17 . . . . . . .6/1 . . . .101/35 . . . . .32/12 . . . .369/92 . . . .174/18 . . . . .31/11 . . . . . . .11/6 . . . .147/57 . . . . .43/14 . . . .205/33 . . . . .48/14 . . . . . . .6/1 . . . .142/47 . . . . .66/21 . . . . .41/24 . . . . . .24/8 . . . . . .25/8 . . . . . .53/8 . . . . . .19/6 . . . . .38/12 . . . .116/27 . . . . .38/10 . . . . . . .2/1 . . . .176/32 . . . .362/80 . . .317/100 . . . . . . .5/2 . . . . . . .3/1 . . . . .50/13 . . . . .63/23 . . . . . . .1/1 . . . . .162/6 . . . .161/29 . . . . .25/11 . . . . . . .1/1 . . . . .43/14
W
Techno Forge (10.23) 10.74,10.74,9.75,9.75 [1500,7],T . . . . . . . . . . . . . . . . . .— Technocraft (47.20) 48.70,48.70,46.30,46.65 [4712,36],Nse . . . . . . . . . . . . .13.9 Techtrn.Poly (16.15) 16,16.25,15.90,15.95 [12658,57],B . . . . . . . . . . . . . . . . .8.6 TeleCanor Gl (24.95) 24.10,25,23.75,24.40 [16403,82],B . . . . . . . . . . . . . . .50.8 Teledata Inf{2} (6) 6.10,6.10,6,6.03 [444431,614],B . . . . . . . . . . . . . . . . . . . . . .0.8 Teledata Tec{2} (4.90) 5,5,4.85,4.90 [134229,177],Nse-T . . . . . . . . . . . . . . . . . .3.5 Telephoto En (7.99) 8,8,7.60,7.60 [2400,5],B . . . . . . . . . . . . . . . . . . . . . . . . . .— Tempt.Foods (37.25) 38,38,35.75,36 [497989,2070],B . . . . . . . . . . . . . . . . . .1.7 Ten Media (16.93) 16.09,16.50,16.09,16.09 [69436,135],B . . . . . . . . . . . . . . .6.2 Tera Softwar (45.90) 46.60,46.90,44.90,45.10 [29950,228],B . . . . . . . . . . . . .5.4 Terai Tea Co (44) 45.90,45.90,45.90,45.90 [200,1],T . . . . . . . . . . . . . . . . . . .23.3 Texmaco{1} (141.70) 140,144.85,135,136.65 [290963,5043],Nse . . . . . . . . . .22.9 Thambi Mod. (9.50) 9.97,9.97,9.10,9.81 [1231,8],B . . . . . . . . . . . . . . . . . . . . .3.1 Themis Medic (156.30) 154,158.90,154,155.80 [255,9],Nse . . . . . . . . . . . .324.6 Thinksoft Gl (261.35) 262,281.95,253,278.95 [3510313,60095],Nse . . . . . . .20.2 Thiru A.Sug. (151) 150,154.95,150,152.75 [1408,11],Nse . . . . . . . . . . . . . . .20.7 Thirumalai (119.05) 117,123,117,119.70 [8555,145],Nse . . . . . . . . . . . . . . . . . .— Thomas Cook{1} (70.65) 70.75,70.80,66.55,67.20 [205080,2482],Nse . . . . . .54.2 Tide Water O (4599.20) 4610.05,4669.95,4600.05,4639.75 [1624,344],Nse . .9.7 TIL (329.30) 329.80,336,322.30,334.70 [27703,402],Nse . . . . . . . . . . .
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DERIVATIVES FUTURES TRADING AT NSE D
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DERIVATIVES OPTIONS TRADING AT NSE BANK N
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—
-TT Spiritual (2.84) 2.80,2.97,2.80,2.89 [7530,37],B . . . . . . . . . . . . . . . . . . . . .20.6 T&I Global (7.06) 7.40,7.40,7.40,7.40 [150,2],B . . . . . . . . . . . . . . . . . . . . . . . .5.1 Tai Inds. (15.38) 14.05,16.70,14.01,14.07 [725,12],S . . . . . . . . . . . . . . . . . . . . .— Tainwala Ch. (16.60) 18.05,18.15,16.70,17.15 [10436,39],Nse . . . . . . . . . . . .8.6 Taj GVK Hotl{2} (152) 154.40,155.95,152.30,153.25 [59388,1487],Nse . . . . . .28.9 Take Sol.{1} (33.10) 33.30,33.30,31.85,32.15 [99393,761],Nse . . . . . . . . . . . .13.0 Talbros Auto (43.70) 44.45,45.90,43.60,43.95 [3249,49],Nse . . . . . . . . . . . . . .— Taneja Aero.{5} (38.50) 38.15,39.10,38.10,38.30 [45115,168],S . . . . . . . . . . . .23.9 Tanfac Ind. (32) 32.25,32.85,31.55,32.30 [1702,23],S . . . . . . . . . . . . . . . . . . . .— Tanla Solut.{1} (59.30) 60.60,61.35,59.30,59.60 [726977,5398],Nse . . . . . . . . .6.3 Tantia Const (112.70) 111.55,114.45,111,112.45 [62031,702],Nse . . . . . . . . . .6.6 Tarai Foods (3.80) 3.98,3.98,3.83,3.90 [455,5],T . . . . . . . . . . . . . . . . . . . . . . . .— Tasty Bite (162.10) 156.40,167.10,156.40,157.45 [2998,48],B . . . . . . . . . . . . .9.0 Tata Coffee (363.30) 400,400,361,363 [29655,1305],Nse . . . . . . . . . . . . . . .24.6 Tata Elxsi (250.60) 250,254,238.50,239.80 [692992,13124],Nse . . . . . . . . . .13.4 Tata Invest. (468.65) 477,477,453,459.60 [13095,368],Nse . . . . . . . . . . . . . .10.2 Tata Metalik (128) 128,131,125,125.70 [49937,1361],Nse . . . . . . . . . . . . . . . .— Tata Mot-DVR (492.70) 498.90,498.90,490.55,492 [34686,111],Nse . . . . . . . .1.5 Tata Sponge (255.70) 256,260,253.25,254.35 [13984,403],Nse . . . . . . . . . . .7.9 Tatia Glob.V (79.70) 83.60,83.60H,76.50,76.90 [3817,35],T . . . . . . . . . . . .640.8 Tayo Rolls (112.90) 114.20,114.35,108.55,111.10 [1415,42],S . . . . . . . . . . . . .— TCFC Finance (29.70) 29.85,29.85,29.75,29.80 [1207,9],B . . . . . . . . . . . . . . .2.6 TCI Finance (23.85) 25.05,25.05H,25.05,25.05 [2463,14],Nse . . . . . . . . . . .52.2 TCI Inds. (2164.35) 2269.50,2272,2200,2269 [64,13],B . . . . . . . . . . . . . . . . . .— TCPL Package (49.25) 51,51,46.80,48 [17282,30],S . . . . . . . . . . . . . . . . . . . .7.4 Techno Elec.{2} (165.60) 174,184.30,171.95,173.95 [124346,2456],Nse . . . . .12.2
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. . . . . .13/6 . . . . .53/17 . . . . . .25/6 . . . . . .47/7 . . . . . .14/4 . . . . . .65/4 . . . . . . .9/3 . . . .180/19 . . . . .86/12 . . . . .50/18 . . . . .52/26 . . . .159/34 . . . . . .11/4 . . . .163/50 . . .335/126 . . . .180/63 . . . .134/39 . . . . .75/30 .5555/2784
POWER GR D
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ECONOMY & COMMODITIES
THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
FMC plans uniform net worth criteria
IN A NUTSHELL Gold revisits 17-k level, silver gains too LONDON: Both the precious metals, gold and
silver recovered marginally on the bullion market here on Monday due to fresh buying support from stockists as well as better offtake from industrial users amid firming trend in European markets. Standard gold (99.5 purity) rose by Rs 40 per 10 grams to close at Rs 17,000 from last weekends closing level of Rs 16,960. Pure gold (99.9 purity) firmed up by Rs 50 per 10 grams to end at Rs 17,095 from Rs 17,045 previously. Silver ready (.999 fineness) moved up by Rs 90 per kg to finish at Rs 27,820, against Rs 27,730 previously. In Europe, gold strengthened 0.5 early on Monday following euro’s rise against the dollar, triggered by news of Dubai averting a debt default, which boosted its appeal as an alternative investment. Dubai said on Monday it had received $10 billion from fellow UAE member Abu Dhabi to help it repay a $4.1billion Islamic bond maturing later in the day.
Oil prices drop below $69 LONDON: World oil prices fell on Monday, with New York crude briefly ducking under $69 per barrel, as the market came under pressure from US demand concerns, analysts said. New York's main contract, light sweet crude for January, lost 36 cents to $69.51 a barrel. It earlier fell to $68.59—the lowest point since October 5. Brent North Sea crude for delivery in January shed 29 cents to $69.58 a barrel in midday London trading. “Concerns that the demand for oil is not running as fast as one would have hoped has seen oil fall back from the $82-level seen in October,” said ODL Securities analyst Marius Paun.
Edible oil imports soar 57% KOLKATA: Buoyed by a zero per cent customs
duty, import of crude edible oil continues to grow by leaps and bounds, reports Our Bureau. Taking note of the rising demand for cooking oil, fuelled by the waiver of the import duty, crude edible oil imports spurted 57% on year-on-year basis to 6 lakh tonnes in November 2009, the first month of the 2009-10 oil year (NovemberOctober). The import growth rate in the first month of the current oil year signals that cooking oil imports in its crude form would be much higher in the current oil year compared to last year, an industry official said. As the market took some time to react to the import duty sop on crude edible oil, its imports increased 42% to 69 lakh tonnes during the whole of 2008-09 oil year, ended just in October 2009. Triggered by a hefty jump in the inflow of crude edible oil, import of vegetable oils in total, consisting of edible and non-edible grades, increased 36% on a year-on-year basis to 7.54 lakh tonne in the month.
Move To Promote Risk-Free Trading & Safeguard Market Integrity: Experts Ram Narsinghdev Sahgal MUMBAI
C
OMMODITY futures market regulator Forward Markets Commission (FMC) may stipulate uniform net worth criteria for members trading on behalf of clients and carrying out proprietary trades across national-level commodity bourses. Brokers and exchange officials stress the importance of putting in place a benchmark in terms of net worth — share capital plus free reserves — for those who provide broking services as these entities are perceived to be extended arms of the bourses and any default by a member carries potential reputation risk for the latter. “When all the exchanges came up in 2003, each one laid down
their own net worth criteria as part of due diligence,” FMC chairman BC Khatua told ET. “But now, since the market is growing, we are considering stipulating uniform rates in the interests of risk-free trading and to curb the likelihood of direct or indirect arbitrage resulting from differential net worth across various member categories on national-level exchanges,” he said. Four national-level exchanges,
THOUGH the monetary policy tightening will have an impact only with a time lag of 6 months, it will help in anchoring the expectations,” said Mr Vohra. The Bombay Stock Exchange’s benchmark Sensex fell from a high of 17,275, to end 0.1 percent lower at 17,097.55 Stock indices across the globe rose with the MSCI World Index rising 0.5% in New York in early trading after Abu Dhabi provided $10 billion to prevent a default by Dubai’s construction company Nakheel. In the days ahead inflation may quicken as many service providers hurt by rising commodity prices start passing on and charge their customers more for their services. “This is direct impact of spike in food and commodity prices
that include Mumbai-based MCX and NCDEX, Ahmedabad-based NMCE and Gurgaon-headquartered ICEX, offer futures trading in metals, energy and farm products. The first three were established in 2003, while the last one went live only late last month. FMC had recently sent a letter to the Indiabulls-MMTC-promoted ICEX asking it to put up the list of members on its website. This was confirmed by Mr Khatua. When contacted, Ajit Mittal, CEO of ICEX, said that the bourse’s compliance department had sent a reply to the regulator in which it stated that a list of around 170 members has been sent to its website manager for being uploaded thereon. Earlier, rumours in certain quarters were doing the rounds that the “delay” in putting up the member list
on the ICEX website was on account of some members “failing” to meet the networth criteria laid down by the bourse. However, Mr Mittal debunked the rumours. “This is a new exchange and the list will be uploaded on our website. We have the creme de la creme of brokers as members of our bourse and there is no issue at all.” “A uniform net worth stipulation for different categories of members will go a long way in safeguarding market integrity,” said Suresh Nair, director, Admisi Commodities. “Raising the entry barriers will ensure that the right talent finds its way to our market. A sound broker should be able to sustain volatility and have some experience of the equity markets and the temperament to offer commodities exposure to its clients.”
Builders most worried about the crisis in US, Dubai From Page 1
ACCORDING to the last Census, residents of Madhapar have the longest lifespan in India with an average age of 69 years. Many still live off farms, though the village is sprinkled with internet cafes, retail stores, restaurants, inns and even cab rentals. “Now, it seems that the curse of the recession has finally fallen on us,” says Jadhavbhai Varsani, 70, who owns a retail store. In Kerala’s forex belt, the worries are much more. With 44.3 emigres per every 100 households, the elderly make up a bulk of those who have stayed back in the Kumbanad-Kozhencheri belt. Among them is A Koshy, 70, a resident of Thiruvalla. Remittances from his son in Dubai have stopped coming, and Mr Koshy is now dipping into his personal savings to pay for house and car loans. “My son had to give away his luxury car for a pittance, and might have to do the same with his apartment,” he says. The remittance economy had spun off its own business offspring in the jewellery, automotive and realty segments. That money had driven down enthusiasm for traditional cash crops such as rubber, coffee beans, cocoa, pepper and ginger, and
the clock has come full circle now. “There has been a drop of 30 to 35 per cent in sales in the mid-segment category,” says the manager of a car dealership. With gold prices rising and inflows down to a trickle, jewellery shops are struggling for customers. Real estate development, the most visible sign of recent prosperity that provided jobs to 25 lakh people in the state has also come to a halt. Hoardings at city junctions announce the arrival of a whole new market for affordable housing. Nonetheless big builders are worried. “A lot of investment had been planned there on the basis of projected demand linked to the expansion of the technology parks. And then came the crisis in the US economy and now Dubai. Our target was the NRI segment, but it is precisely them that is facing a hard time,” says SN Raghuchandran Nair, president of the Confederation of Real Estate Developers. In Madhapar too, the worst hit are the same sectors. Ditto with Ena, another NRI hotspot village near Surat, which is dotted with plush villas and streets populated with BMWs and Mercs. Here too sales executives say snob value is now a distant memory.
Fast-food chains may soon increase charges From Page 1
expectations. Food products has a 14.4% weight in the WPI and contributed nearly a percentage point to the increase in inflation in November. With the easy money leading to higher demand for products, manufacturers may be able to pass on the higher input costs to customers, leading to further pressure on prices, said economists. “With demand picking up as well, we expect firms to have a greater ability to pass-through higher costs,” said Sonal Verma of Nomura Financial Services. This is already reflected in rising inflation in the case of manufactured products, up at 3.99% for November against 1.36% the previous month. “Supply-side inflation may easily translate into demand-side inflation, if inflation expectations are not anchored,” said Verma.
and the second round impact of inflation is yet to set in,” said Indranil Pan, chief economist at Kotak Mahindra Bank. McDonald’s is set to increase prices by 5-10% in the New Year, and Yo! China may follow. Prices are already up at pizza supplier Domino’s, KFC and Mainland China. Food price surged to over 19% in the fourth week of November, as potato prices doubled, onions rose 23%, rice gained 11.75%, wheat 12.6% and pulses 42%. Fruits rose 13%, and milk was 11.4% dearer. Taximen and autorickshaw drivers also plan to raise prices. Wholesale price index (WPI)based inflation may touch 8.7% by end of March, said Mr Pan, adding the central bank will have to suck out excess liquidity from the system by tightening cash reserve ratio by 25 to 50 basis points in January to anchor inflationary
Local jeweller Mohan Khokhani says that on an average an NRI used to spend about Rs 4-5 lakh on marriage purchases. “Now, they are not buying for investments as gold prices are high and have cut down budgets for marriages too,” he says. The Patels of Madhapar started emigrating during the 1960s and ‘70s to work abroad, and in true Gujarati spirit, set up their own businesses, The Kutch Madhapar Karyalay was formed in London in 1968 and there are other Madhaparian associations in other cities as well. Navinbhai Patel, 57, who had emigrated 20 years ago, one such active Madhapari in London, where he runs a groceries shop and his wife runs a boutique in Neasden in north London. Patel comes to India every winter, but says this year is different. “Forget about bringing in foreign money, this time around I have even cut down my expenditure by around 80%,” he says. That’s bad news for the village as a large chunk of small businesses here are dependent on the so-called ‘NRI season’, when the rich non-residents come home and splurge on food, travel and entertainment and buying jewellery, clothes or on family weddings.
&\ GILLANDERS ARBUTHNOT & CO. LTD. Regd Office C-4 , Gillander House,Netaji Subhas Road,Kolkata-700 001
NOTICE
The Equity shares of the Company are listed and admitted to dealings on the National Stock Exchange of India Limited , Mumbai w.e.f. December 14, 2009 under the symbol ‘GILLANDERS ’.
Company Secretary
r
] t I l [.] I m Iii
Nepean Sea Road, near Pnyadarshini Park, Mumbai -400 036. PABX Telephone -23686112 ,23696109, Fax:23696110, 23684943 OFFER NOTICE FOR TOLL COLLECTION
Sealed Tenders are invited by the Maharashtra State Road
Development Corporation Ltd. (MSRDC)for:Name of toll stations
Appointment of Contractor for Collection of toll for two toll stations passing for Railway Over Bridge at Parbhani & Zari Bridge. - 2nd Call. Km. 99/200 on S,H.No. 217 & km. 113/400 on S.H.No. 217 (Including Routine Maintenance). Estimated Cost Rs. 359.00 Lacs for 104 weeks on Monthly Upiront Payment basis. Date of issue of From 14.12.2009 to 30.12.2009 at below blank tender Form mentioned addressed. Last date of Upto 13.00 hrson or before 05.01.2010. Submission
________________
_____________________________________
www .msrdc .org
Executive Engineer (TMU) M.S.R.D.C. (Ltd ), Mumbai Toll Monitoring Unit, M.S.R.D.C. (Ltd.), Opposite Information Centre , Bandra Worli Sea Link Project Office , Next to Bandra
Commodities (Dec 2003=1000)
Index Bullion Cement Chemicals Edible Oil Foodgrains Fuel Indl Metals Other Agricom Plastics
Day’s Index 1809.4 2959.2 1557.0 1125.9 1031.5 1799.7 1443.2 1372.3 1974.2 1448.5
Prev. Index 1817.5 3005.5 1557.0 1125.9 1026.9 1801.8 1443.2 1372.3 1974.4 1455.7
Week Ago 1821.0 3065.6 1561.2 1125.9 1037.1 1787.3 1443.2 1372.3 1986.8 1468.4
Month Ago 1785.9 2918.6 1557.0 1125.9 992.1 1790.5 1443.2 1372.3 1886.6 1435.8
Compiled By ET Intelligence Group Commodity
(Prev.Cl) Open,Close
As on December 14, 2009 BULLION GOLD(10 Gms) BANGALORE Ornaments . . . . . (16290)16090,16090 Standard. . . . . . . (17515)17301,17301 CHENNAI Ornaments . . . . . (16100)15930,15930 Standard. . . . . . . (17310)17125,17130 DELHI Biscuit. . . . . . . . . (17420)17330,17330 Ornaments . . . . . (15986)15904,15904 Sovereign . . . . . . (14000)13500,14000 Standard. . . . . . . (17440)17350,17350 KOLKATA Standard. . . . . . . (17535)17355,17355 MUMBAI 99.90 Purity . . . . (17045)17175,17095 Standard. . . . . . . (16960)17085,17000 SILVER(1 Kg) BANGALORE Bar Retail . . . . . . (29600)29300,29300 Bar Wholesale. . . (29400)29100,29100 Local Retail. . . . . (27900)27700,27700 Local Wholesale . (27700)27500,27500 CHENNAI Bar . . . . . . . . . . . (28215)27950,27955 DELHI .999 Spot . . . . . . (27500)27700,27700 Buyer Coins(100 Pieces). . . . . . . . . . . . . . . . . . . . . . . . . . (33500)33700,33700 Delivery . . . . . . . (27400)27550,27550 Raw Tejabi . . . . . (27300)27450,27450 KOLKATA Bar . . . . . . . . . . . (27800)27400,27400 MUMBAI .999 . . . . . . . . . . (27730)28030,27820
CEMENT DELHI CEMENT(50 Kgs) A C C Suraksha . . . . . . . . (237)237,237 Ambuja(53G) . . . . . . . . . . (234)234,234
Commodity
(Prev.Cl) Open,Close
Binani (43 grade) . . . . . . (241)241,241 Binani (ppc). . . . . . . . . . . (232)232,232 Diamond Power. . . . . . . . (224)224,224 J K Super (43G). . . . . . . . (241)241,241 J P Buland. . . . . . . . . . . . (227)227,227 J.K.Lakshmi (43G). . . . . . (232)232,232 J.K.Plast . . . . . . . . . . . . . (178)178,178 JK Super (ppc) . . . . . . . . (232)232,232 Lafarz . . . . . . . . . . . . . . . (203)203,203 Sakrani Plaster . . . . . . . . (250)250,250 Shriram (53G) All Purpose (238)238,238
CHEMICALS DELHI ACIDS(1 Kg) Acetic Acid Glacial. . . . . . . . . (40)38,40 Acid Slurry . . . . . . . . . . . . . . (75)65,75 Citric China . . . . . . . . . . . . . . (58)50,58 Formel Dehyde . . . . . . . . . . . (17)17,17 Formic Acid . . . . . . . . . . . . . . (52)52,52 Oxalic PCPL (Blue). . . . . . . . . (54)54,54 Oxalic PCPL (Red) . . . . . . . . . (54)54,54 Phenol Carbolic Acid . . . . . . . (95)95,95 Tartaric France . . . . . . . . . . . (12)12,12 BORAX(50 Kgs) Borax Granular . . . . . (1950)1750,1950 Boric Acid Technical . (4100)3400,4100 Crystal . . . . . . . . . . . (1575)1575,1575 CALCIUM CARBONATE(Tonne) Heavy . . . . . . . . . . . . (5600)4000,5600 Light . . . . . . . . . . . (11000)7600,11000 CAMPHOR(1 Kg) Powder . . . . . . . . . . . . . . (280)280,280 Slab. . . . . . . . . . . . . . . . . (295)295,295 MENTHOL(1 Kg) Bold Crystal. . . . . . . . . . . (710)692,692 DMO . . . . . . . . . . . . . . . . (450)442,442 Flake. . . . . . . . . . . . . . . . (690)672,672 Oil . . . . . . . . . . . . . . . . . . (645)630,630 Thymol . . . . . . . . . . . . . . (580)580,580 OILS(1 Ltr) Creasote Heavy . . . . . . . . . . . (46)46,46 Creasote Light. . . . . . . . . . . . (52)52,52 Pine. . . . . . . . . . . . . . . . . . (100)87,100
Commodity
(Prev.Cl) Open,Close
Turpentine. . . . . . . . . . . . . . . (70)65,70 Varnish . . . . . . . . . . . . . . . . . (50)50,50 OTHERS(50 Kgs) Alum . . . . . . . . . . . . . . . . (450)450,450 Bleaching Powder Chambal . . . . . . . . . (680)680,680 Caustic Potash . . . . . (4400)4400,4400 Copper Sulphate . . . . (5400)4750,5400 Glycerine IW/CP . . . . (2300)2100,2300 Hexamine . . . . . . . . . (3900)3900,3900 Hydrogen Peroxide . . . (1000)850,1000 Mercury . . . . . . . (56349)56349,56349 Naphthalene Balls. . . (4400)4400,4400 Pot. Nitrate . . . . . . . . . . . . . . (14)14,14 Pot. Permanganate . . (9800)7500,9800 Sod. Bichromate . . . . (3950)3950,3950 Sodium Bicarb-Tata . . . . (920)920,920 Sodium Hexameta Phosphate. . . . . . . . . . . . . . . . . . . . . . . . . (4500)3750,4500 Sodium Meta Silicate . . . (750)750,750 Sodium Nitrate . . . . . (1900)1900,1900 Sodium Nitrite. . . . . . (2100)2100,2100 Sodium Silicate. . . . . . . . (550)475,550 Sodium Sulphate. . . . . . . (550)550,550 Zinc Oxide. . . . . . . . . (5750)4750,5750 PARAFFIN WAX(50 Kgs) China. . . . . . . . . . . . . . . . . . . (84)85,85 Indian . . . . . . . . . . . . . . . . . . (86)86,86 Iran . . . . . . . . . . . . . . . . . . . . (58)55,58 Residue (Tonne) . (33000)33000,33000 PHENYL(1 Ltr) ISI Mark. . . . . . . . . . . . . . . . . (50)40,50 Local . . . . . . . . . . . . . . . . . . . (30)26,30 RESIN(1 Kg) B Grade. . . . . . . . . . . . . . (970)970,970 H Grade. . . . . . . . . . . (1030)1030,1030 M Grade . . . . . . . . . . (1060)1060,1060 SODA ASH(50 Kgs) Birla . . . . . . . . . . . . . . . . (900)900,900 DCW . . . . . . . . . . . . . . . . (900)900,900 Gujarat . . . . . . . . . . . . . . (900)900,900 Tata. . . . . . . . . . . . . . . . . (925)925,925 SODIUM HYDRO SULPHITE (1 Kg) China. . . . . . . . . . . . . . . . . . . (58)61,61 Demosha. . . . . . . . . . . . . . . . (85)85,85 Safolite . . . . . . . . . . . . . . (125)125,125 TITANIUM DIOXIDE(1 Kg) China. . . . . . . . . . . . . . . . . . . (86)86,86 Dupont . . . . . . . . . . . . . . (149)149,149 RC-822 . . . . . . . . . . . . . . (138)138,138 TR-92 . . . . . . . . . . . . . . . (144)144,144 TTK . . . . . . . . . . . . . . . . . . . . (98)98,98
COTTON COIMBATORE COIMBATORE(Qtl) Bengal Deshi (New-Pjb) . . . . . . . . . . . . (7099)7099,7099 DCH-32 (Ktk-New)(12373)12373,12373 H-4 (MP) . . . . . . . . . . (7311)7311,7311 J-34-SG (Bhatinda). . (7166)7166,7166 Jayadhar (Ktk). . . . . . (6186)6186,6186 MCU-5 (AP-New). . . . (7733)7733,7733
Commodity
(Prev.Cl) Open,Close
Shankar-6 (Guj-New) (7592)7592,7592 V-797(Guj). . . . . . . . . (5961)5961,5961
DRY FRUITS DELHI ALMOND(40 Kgs) California . . . . . . (10600)10600,10600 Girdi . . . . . . . . . . . . . (2800)2800,2800 Gurbandi . . . . . . . . . . (4900)4800,4900 Kernel California . (14720)14600,14720 Kernel Gurbandi . (14800)12000,14800 APRICOT(40 Kgs) Hyderabad Quality (12000)4000,12000 CASHEW KERNEL(1 Kg) 180 No . . . . . . . . . . . . . . (510)500,510 2 Pieces . . . . . . . . . . . . . (300)250,300 210 No . . . . . . . . . . . . . . (470)460,470 240 No . . . . . . . . . . . . . . (390)390,390 320 No . . . . . . . . . . . . . . (370)355,370 4 Pieces . . . . . . . . . . . . . (285)245,285 8 Pieces . . . . . . . . . . . . . (245)185,245 Chilgoza Roasted . . . . . . (800)750,800 COCONUT POWDER(25 Kgs) Best . . . . . . . . . . . . . (1650)1500,1650 With Shell . . . . . . . . . (1200)1100,1200 DRY DATES(Qtl) Rangkat . . . . . . . . . . (7000)2400,7000 Red . . . . . . . . . . . . . . (6000)2300,6000 FIG(40 Kgs) Best . . . . . . . . . . (15000)14000,15000 Low Quality. . . . . . . . (8000)7000,8000 Medium . . . . . . . . (10000)9000,10000 KISMISH(40 Kgs) Indian Green . . . . . . . (6000)4000,6000 Indian Yellow. . . . . . . (4400)4000,4400 Kandhari Ordinary. . . (7500)7000,7500 Kandhari Special. (20000)12000,20000 OTHERS(40 Kgs) Abjosh. . . . . . . . . . (16000)8000,16000 PISTACHIO(1 Kg) Dodi Roasted. . . . . . . . . . (600)550,600 Hairati . . . . . . . . . . . . (1300)1250,1300 Irani. . . . . . . . . . . . . . . . . (950)900,950 Peshawari. . . . . . . . . (1500)1450,1500 WALNUT(1 Kg) Walnut. . . . . . . . . . . . . . . (150)100,150 Walnut Kernel . . . . . . . . . (550)330,550
METALS ALUMINIUM(1 Kg) DELHI CG Ingot . . . . . . . . . . . . . (115)115,115 Rod . . . . . . . . . . . . . . . . . (119)119,119 Sheet Cutting . . . . . . . . . (108)109,109 MUMBAI Ingot . . . . . . . . . . . . . . . . (112)112,112 Utensil Scrap. . . . . . . . . . . . . (85)86,86 BRASS(1 Kg) DELHI Bharat-Accessories. . . . . (225)230,230 Chadri Desi . . . . . . . . . . . (229)229,229
Commodity
(Prev.Cl) Open,Close
Huny . . . . . . . . . . . . . . . . (230)233,233 Radiator Desi . . . . . . . . . (183)210,210 Radiator Imported . . . . . . (205)210,210 MUMBAI Sheet Cuttings . . . . . . . . (241)243,243 Utensil Scrap. . . . . . . . . . (233)230,230 CADIUM(1 Kg) DELHI Maxico . . . . . . . . . . . . . . (245)245,245 Plate . . . . . . . . . . . . . . . . (225)225,225 Rod . . . . . . . . . . . . . . . . . (215)215,215 COPPER(1 Kg) DELHI Pat . . . . . . . . . . . . . . . . . (316)318,318 Super D. . . . . . . . . . . . . . (348)351,351 MUMBAI Copper Armature. . . . . . . (325)327,327 Copper cable scrap . . . . . (338)340,340 Copper sheet cuttings . . . (318)317,317 Heavy Scrap . . . . . . . . . . (332)335,335 Utensil Scrap. . . . . . . . . . (303)304,304 Wire Bars . . . . . . . . . . . . (366)368,368 GUN METAL SCRAP(1 Kg) DELHI Jalandhar . . . . . . . . . . . . (241)241,241 Local . . . . . . . . . . . . . . . . (233)234,234 Mix . . . . . . . . . . . . . . . . . (237)237,237 LEAD(1 Kg) DELHI Desi Hard (1/1.5%) . . . . . . . . (84)84,84 Desi Hard (4%) . . . . . . . . . . . (87)87,87 Desi Soft . . . . . . . . . . . . . . . . (87)87,87 Ingot Imported. . . . . . . . . (118)118,118 MUMBAI Lead . . . . . . . . . . . . . . . . (104)104,104 NICKLE PLATE(1 Kg) DELHI Inco Canada 4*24 . . . . . . (990)990,990 Inco Canada 4*4 . . . . . . . (985)985,985 Russian 4*24 . . . . . . . . . (873)880,880 Russian 4*4 . . . . . . . . . . (862)870,870 Russian 9*9 . . . . . . . . . . (867)875,875 MUMBAI Nickle . . . . . . . . . . . . . . . (865)870,870 OTHERS(1 Kg) DELHI Antimony China. . . . . . . . (325)325,325 TIN(1 Kg) DELHI Ingot . . . . . . . . . . . . . . . . (848)848,848 MUMBAI Tin. . . . . . . . . . . . . . . . . . (850)850,850 ZINC(1 Kg) DELHI Dross. . . . . . . . . . . . . . . . . . . (90)90,90 Slabs. . . . . . . . . . . . . . . . (128)124,128 MUMBAI Zinc. . . . . . . . . . . . . . . . . (123)124,124
Inputs: NNS Online
Reclamation Bus Depot , Bandra (West), Telephone Nos .26412382/26414605.
Mumbai 400 050.
Tender No: M R / D S I M M / C O N T ! W H I P S T O C K - 1 3/ 2 7 8 ( 6 8 )/ 2009-10/ P460C09025 for Hiring of 13-3 / 8” Whipstock & Window Milling Equipment & Services on Rate Contract. GGM-Incharge-MM , ONGC Ltd., Mumbai Region . Drilling Services , 3rd Floor , 1 1-High” ONGC Office Complex , Sion-Bandra Link Road, Siori-West , Mumbai — 400 017 (India) invites Open ICB e-tender under two bid system without reverse auction process in e-form through ONGC’ s bidding engine at e-procurement website at: https:/!etender.ongc.co.in from prospective Bidders for Hiring of 13 3/8W W hipstock & Window Milling Equipment & Services on Rate Contract. Tender Fee: For Indian Bidders — Rs. 45 ,000.00 I For Foreign Bidders — USD 1000. Period of Sale of Tender Documents: 15.12.2009 to29. 12 .2009. Tender document can be downloaded from the above website by paying requisite tender fee through electronic payment gateway by using credit cards. Firms who have purchased this tender document during the earlier sale period , need not purchase again. No pre-bid conference will be held. Tender Closing / Opening Date & Time: 19-01-2010 at 1400/1500 Hrs. 1ST. F o r f u r t h e r d e t a i l s o f t h e t e n d e r a n d r e g is t r a t i o n o f v e n d o r s for
participation in e-tender please log on to ONGC’ s e- procurement website: hftps://etender.ongcco.in and http://tenders.ongc.co.in CORRIGENDUM
Tender No: QI5VCO900I. Supply Installation and Commissioning of FWHR Units. Extended Period of Sale of Tender Document: Up to 29.12.2009. Tender ClosinglOpening Date & Time: 11.01.2010 at 1400 Hrs/1 500 Hrs. The details of tender are also available at our website www.ongctenders .net. The e-Procurement Portal can be accessed directly at http://etender.ongc.co.in Tender No: ONG/COL/HMMIPIM!MOORING/31/2009/P78HC09001. Sub: Procurement of SPM Mooring Ropes. General Manager — l/C-MIM, OLG invites 1GB Tender under two bid system. Details are given as under: Quantity Required: 08 Nos. Tender fee (non-refundable): (i) For Indian Bidder — Rs.4500/- (ii) For Foreign Bidder — USD 100.00. Sale period: From 18.12.2009 to 07.01.2010. TenderClosing date & time of Unpriced Bid: 19.01 .2010 at 1400 hrs and Opening date & time of Unpriced Bid: 19.01.2010 at 1500 hrs. Forfurther details of tender , please logon to our website https://tenders ongc coin
‘Keep close watch on inactive a/c’ NEW DELHI: FMC has asked brokers to keep a close watch on inactive trading accounts to avoid possible misuse and warned that failure to do so would attract penalty. “To curb manipulation of inactive trading accounts we have asked members brokers of the respective exchanges to keep a very close watch on inactive clients,” FMC chairman BC Khatua said. Monitoring of such inactive accounts will help avoid their undue influence on the commodity market and also on active clients, Mr Khatua said. — Agencies
Govt may appoint 6 i-bankers for NMDC issue From Page 1
GMR Energy expanding capacity rapidly From Page 1
MANISH Kejriwal, senior managing director and country head of Temasek, could not be reached for comments. A spokesman for ICICI Bank declined to comment. ET NOW had reported on October 10 that GMR Energy was planning an initial public offering and that the company would file a draft red herring prospectus by November 30. The company had appointed JP Morgan and Kotak Mahindra Capital Company as lead managers for the proposed issue. GMR Energy currently operates three power plants — a 235 mw plant in Mangalore, a 200 mw plant in Chennai and a 387 mw plant at Vemagiri in Andhra Pradesh. The company is also developing power projects with 2000 mw capacity in Orissa and Chhattisgarh and hydropower projects in Uttarakhand, Himachal Pradesh, Arunachal Pradesh and Nepal with a capacity to generate 1200 mw of power. GMR Energy also has investments in coal assets and owns 94.9% in PT Barasentosa Lestari mines in Indonesia and over 30% stake in Toronto Stock Exchange-listed Homeland Energy Group, which owns coal assets in South Africa. It also owns 10% in Delhi International Airport.
EVEN in case of REC, in which, bankers have quoted zero fees, the issue cost would be around Rs 25 crore, said an investment banker. In the case of Rural Electrification Corporation, which is set to enter the market in second week of January, the government has asked for a price of around Rs 275 per share as against the current price of around Rs 252 per share. The government has also initiated the process of divesting 8.38% stake in National Mineral Development Corporation through an FPO in the domestic market. The Government holds about 98.38% stake in the company. Since the issue size is going to be by far the largest by any Indian company, government will appoint six investment bankers. At the current market price of Rs 418.55 per share, the divestment would fetch the government Rs 14,000 crore. The government has invited proposals from merchant bankers. The company has lined up a capital expenditure programme of Rs 2,500 crore to increase the capacity of its ore production from the existing 30 million tonnes to 50 million tonnes by 2014, projecting a spurt in demand for the raw material. However, the company will funds its expansion plan through a combination of internal accrual and debt. It also has plans to set up a 5 mt steel plant in Bellary, Karnataka, at an estimated cost of Rs 9,280 crore through a joint venture with a steel company that would bring in equity as well as technology.
RHARAT HEAVY ELECTRICALS LIMITED
t41
P c*
i
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PPX-Centra l , HEEP, BHEL , RANIPUR , HARIDWAR-249403 (Uttarakhand) Phone: +91-1334-285520, 281647 , Fax:+91 -1334-226462, E-mail; surkumar @bhelhwr.co.in BHEL , HEEP, Haridwar invites two
OPEN TENDER
part bid from eligible Vendors to participate in the following tender enquiries . The tender documents can be downloaded from our websites www bheLcom I www bhelhwr coj n I www.tenders govin & submitted with requisite EMD & tender fee. Only those vendors who fulfill the qualifying criteria will be considered. Tender No. Description of Equipment Last Date to Opening get from BHEL Date C/6200/2009/ Wind Operated Ventilator System ( 600MM DIA) 4121 B For Qty & Details.- Refer Annexure-VI ,
07.01.2010
08.01.2010
For Technical Specification- Refer Annexure-VIl For Pre Qualifying Requirement-Refer Annexure-VIll Details of the above items along with their specification are available on our above websites . Amendment/ corrigendum, if any, will be hosted on our website only. SDGM (Purchase-Central)
ADVANCED NUMERICAL RESEARCH AND ANALYSIS GROUP DEFENCE RESEARCH AND DEVELOPMENT ORGANISATION
GOVERNMENT OF INDIA,MINISTRY OF DEFENCE KANCIIANBAGFI P.O., IIYDERABAD-500 058
D. Karmakar
For full details of offer please log on to MSRDC Web site
THE ECONOMIC TIMES COMMODITY INDEX
21
PHONE NO. 040-24347630-35, FAX NO. 24347696/79 OPEN TENDER NOTIFICATION On behalf of the President of India , The Director,ANURAG , Kanchanbagh P.O., Hyderabad-500 058, invites sealed tenders (separate Price Bid and Techno-Cornniercial Bid) from reputed Manufacturers for the following item. 1 . The Director, ANURAG , Kanchanbagh , Hyderabad-500 058, invites, OPEN TENDERS in sealed tenders for supply of the following item: SI. No. File No. Item Description Oty. 1. ANUIMMGIREVIOTIO9-101201138 Study, Porting & Development of SCA One Set operating Environment on ANURAG ’s SDR-SOC based Board Architecture. DD in favour of Director. ANURAG. towards the cost of Tender Document must be enclosed alongwith Techno-Commercia l Bid. The DD should be Durchased before the Last Date of Purchase of Tender Documents. ______
_________________________
TERMS &CONDITIONS
Cost of the Tender Forms SI. No. 1 Rs, 100 00 Date of Issue of Tender Enquiry Fomis : 21/12/2009 (Monday) Last Date for Issueof Tender Enquiry Fomis : 19/01/2010 (Tuesday) 4. Closing Date for Receipt of Tenders : 19/01/2010 (Tuesday) 1ST: 10.00 Hrs. 5. Opening of Tender 19101/2010 (Tuesday) 1ST: 10.30 His. 2. The Tender documents complete with detailed specifications, can be obtained from The Director, ANURAG , Kanchanbagh P.O., Hyderabad-500 058 alongwith written request against payment of Rs. 100.00 for S. No. 1 accordingly by Demand Draft (non-refundable) from any Nationalised Bank, drawn in favour of The Director, ANURAG payable at Hyderabad. 3. The tender documents are not transferable the tenders will be accepted upto 19/01/2010 (Tuesday) 10.00 His. and will be opened on Dt. 19/01/2010 (Tuesday) 1ST: 10.30 Hrs. in the presence of the representatives of the firms attended. The TECHNO COMMERCIAL Bids will be opened on Dt. 19/01/2010 (Tuesday) 1ST: 10.30 Hrs. and the PRICE BIDS will be opened during the price negotiation committee meeting at a later date which will be intimated to you in advance. 4. EMD must be enclosed with the PRICEBIDwhich will be opened during the TPC/NC. The tenders will certify in the Techno-Commercial Bid that the EMD amount as applicable has been enclosed with the Price Bid without disclosing the amount. However, if EMD is not found enclosed with the Price Bid when opened by TPC/NC, such offerswill not be considered by TPC/NC and will be treated as technically rejected. 5. Earnest Money Deposit (EMD): EMD @2% of the quoted cost must be provided by Indian Vendors in the form of a crossed a/c Payee Demand Draft drawn in favour of THE DIRECTOR,ANURAG , payable at HYDERABAD and valid for a period of six months. EMD is not applicable to vendors registered with any DRDO Lab/DGS&D/Govt. Organization. However, registered vendors should enclose a copy of the vendor registration certificate / letter, tailing which the offer will be rejected. 6. Tenders shall be accompanied by earnest money deposit (EMD), as mentioned in the Tender Enquiry Forms, by Demand Draft obtained from any Nationalised Bank drawn in favour of The Director, ANURAG, payable at Hyderabad. 7. Tenders not accompanied by EMD shall be rejected. The EMD of the successful tenders shall be adjusted against Security Deposit. EMD which will be refundable in full to the unsuccessful Bidders (No interest will be paid on the EMD) after placement of the Order. 8. The Director, ANURAG , reserves the right to accept or reject any or all tenders without assigning 1. 2. 3.
any reason whatsoever and no correspondence will be entertained after submission of the
quot ations. 9. Director, ANURAG , shall not be responsible for delay in transmission I receipt of tender forms by post. NOTE:1 . Tender documents and detailed technical specifications are also available on the DRDO website: (www.drdo.org/www.drdo.com) which may be downloaded and these will be valid for participating in the prescribed tender process. The cost of Tender Documents Downloaded from the DRDO Website is to be enclosed as DD in favour of Director. ANURAG. is mandatory while subrnittin of Techno-Commercial Bid. Sd/davp 10301/11/0488/0910
CHAMAN SINGH HEAD MMG ,
FOR DIRECTOR
REGD. NOS. MH/MR/South - 92/2009-11 RNI No. 6252/1961
FREEDOM FROM ECONOMICS
22
* THE ECONOMIC TIMES MUMBAI TUESDAY 15 DECEMBER 2009
FROM THE CUP TO THE KULHAD, INDULEKHA ARAVIND TAKES A CERAMIC SIP TO KNOW THAT IT DOESN’T TAKE MORE THAN CROSSING CONTINENTS TO PUT THE PIECES TOGETHER
The cups that slip a lip JOURNEY OF A THOUSAND miles begins with a single step, said Lao Tzu. Dialogue Céramique's journey, spanning several countries, artistes and techniques, began with a single cup… an Indian cup…the one that one of our railway ministers reminded us of... the small, earthenware kulhad. The seed was planted as long ago as 1962, when Claude Presset, a young Swiss ceramist and teacher, arrived in India at the invitation of a friend. After a visit to a temple in Rajasthan, still enraptured by the beautiful dancing she witnessed there and inhaling the fragrance of the tulsi garland around her, her friends took her to the teashop outside, where she was introduced to the kulhad. Delighted by the simple yet charming cup, she put it in her pocket and brought it home to Geneva. During the course of her 30-year academic career at the Ecole des Arts Décoratifs in Geneva, her travels to Japan, Australia, India and France and her work as a curator at the Ariana Museum, dedicated to ceramics, Presset was inspired to work on an exhibition that would explain the basis of ceramics and the different technologies involved. She had to abandon the project because of the gigantic scale it required but she then hit upon something more feasible — to involved a hundred artists chosen according to the techniques they used, whose 1001 works would form a unique travelling exhibition. And for the theme, she returned to that little Indian kulhad she had brought home nearly half a century ago. As a tribute to the inspiration behind the exhibition, 1001 Cups, which will tour five countries over two years, the first venue is the Crafts Museum in New Delhi. The 1001 cups on display present the rich variety that can be drawn from a single source of inspiration. Being a universal, omnipresent object, the cup is obviously something everybody can relate to, relevant to all cultures. Yet,
Tilting rightwards David Carr
SUNDAY was the second anniversary of the sale of The Wall Street Journal to Rupert Murdoch’s News Corp At that time, a chorus of journalism church ladies (I was among them) warned that one of the crown jewels of American journalism now resided in the hands of a roughneck, and predicted that he would use it to his own ends. Yet here we are, two years later, and The Wall Street Journal still hits my doorstep every morning as one of the nation’s premier newspapers. But under Murdoch’s leadership, the newspaper is no longer anchored by those deep dives into the boardrooms of American business with quaint stippled portraits, opting instead for a much broader template of breaking general interest news articles with a particular interest in politics and big splashy photos. Glenn R Simpson, who left the newspaper back in March, is not a fan of the newsier, less analytical Journal. “Murdoch didn’t ruin The Wall Street Journal, he just rendered it into a much more ordinary paper,” he said. But there are growing indications that Murdoch, a lifelong conservative, doesn’t just want to cover politics, he wants to play them as well. A little over a year ago, Robert Thomson, The Journal’s top editor, picked Gerard Baker, a columnist for The Times of London, as his deputy managing editor. Baker is a former Washington bureau chief of The Financial Times with a great deal of expertise in the Beltway. The two men came of age in the more partisan milieu of British journalism. According to several former members of the Washington bureau and two current ones, the two men have had a big impact on the paper’s Washington coverage, adopting a more conservative tone, and editing and headlining articles to reflect a chronic scepticism of the current administration. And given that the paper’s circulation continues to grow, albeit helped along by some discounts, there’s nothing to suggest that The Journal’s readers don’t approve. Baker, a neoconservative columnist of acute political views, has been especially active in managing coverage in Washington, creating significant grumbling, if not resistance, from the staff there. Reporters say the coverage of the Obama administration is reflexively critical, the health care debate is generally framed in terms of costs rather than benefits “health care reform” is a generally forbidden phrase - and global warming sceptics have gotten a steady ride. (Of course, objectivity is the eyes of the reader.) The pro-business, antigovernment shift in the news pages has broken into plain view in the last year. On August 12, a fairly straight-down-the-middle front page article on President Barack Obama’s management style ended up with the provocative headline, “A President as Micromanager: How Much Detail Is Enough?” The original article included a contrast between President Jimmy Carter’s tendency to go deep in the weeds of every issue and President George W Bush’s predilection for minimal involvement, according to people who saw the draft. By the time the article ran, it included only the swipe at Carter. On August 27, a fairly straightforward obituary about Ted Kennedy for the Web site was subjected to a little political reeducation on the way to the front page. A new paragraph was added quoting Rush Limbaugh deriding what he called all of the “slobbering media coverage,” and he also accused the recently deceased senator of being the kind of politician who “uses the government to take money from people who work and gives it to people who don’t work.” On October 31, an article on the front of the B section about estate taxes at the state level used the phrase “death tax” six times, but there were no quotation marks around it. A month later, the newspaper’s Style & Substance blog suggestPublished for the proprietors, Bennett, Coleman & Co. Ltd. by R. Venkata Kesavan at The Times of India Building, Dr. D. N. Road, Mumbai 400001 and printed by him at The Times of India Suburban Press, Akruli Road, Western Express Highway, Kandivli (E), Mumbai - 400 101. Tel. No. (022) 6635-3535, 2273-3535 Response Ph: (022) 66353636, 2273-3636 Email
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it also presented a palette where the boundaries of creativity could be stretched. Presset says the ceramists and potters she sought contributions from responded to her call most enthusiastically. And it is easy to why. Though given a limitation of size and a brief to stick to a single technique, the cups present a bewildering variety of expressions and to do justice to the 100 artistes, one needs to take time to let the works sink in. They range from the starkness and simplicity of white used by Swiss ceramist Piero Isgro, the delicate porcelain cups of South Korean artiste Young- Ho Lee and the truffle-like creations of Cornelia Troesch to the almost disturbing 'cups' of Yoshimi Futamura from Japan, whose work seems intended to shock. Perhaps, to give some respite, right below Futamura's works are Swiss-origin Leandre Barkhard's tiny white cups with laughing Buddha imprints. However, artistes being artistes, creative liberties have been taken with the brief that they must roughly stick to the size of the kulhad. Spanish ceramist Joan Serra-Carbones, for example, has given fantastic shapes and sizes to her creations, the concentric circles of some of them possibly representing continuity, in contrast to the fear the little earthenware cup may eventually disappear, thanks to industrial production and phasing out of clay by other materials. Along with the traditional, avante garde artistes has also been given adequate space, such as Yangze Jiang from China, some of whose works have a multitude of screws covering them. Tine Deweerdt's sea anemone-like stoneware, using earthy tones of brown, rust, cream and black, also stand out for their uniqueness. The artistes whose works most resemble the inspiration are, not surprisingly, from the subcontinent. S Sheherezade Alam, from Pakistan, has remained faithful to the smoothness and simplicity of the kulhad in her earthenware creations. As has Indian artiste Jayanti Naik, whose kulhads are decorated by delicate
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ed that the adoption of such a loaded political term was probably not a good idea: “Because opponents of estate taxes have long referred to them as death taxes, the term should be avoided in news stories.” Baker declined to comment in detail for this column, but said he had nothing to do with any of the three examples, and a Journal spokesman sent along the following statement: “The Journal has always provided its readers with unique, objective news reporting from our Washington Bureau.” None of the reporters involved in those articles spoke to me, but several others did. “A lot of it is about what goes into the pipeline and then what does, and does not, come out,” said a reporter who works at the Washington bureau and who, like others, did not want to be identified out of concern for retribution. The reporter said articles at The Wall Street Journal ended up looking out of step with other coverage because an agenda may have been at work. Tension between Washington bureaus and headquarters is a common feature of newspapers, and none of the people I spoke to suggested that either Thomson or Baker lacked savvy as journalists or leaders, only that ideology was baked into the coverage through headlines, assignments and editing in a way that had never occurred in the past. “When it was just Robert, we were able win more arguments, but now that it is both he and Baker, it pretty much goes the way they say it will,” said another current member of the staff. (New York Times News Service)
white designs. Some of the artistes have used the opportunity to try and preserve some of the vanishing ceramic art forms. Like Lekha Bhagat, who travelled to Azamgarh in Uttar Pradesh to master a special technique using terracotta, smoking it and subsequently using an alloy for decoration. The potter who taught her the dying technique, Panna Lal, has also been given credit for the black terracotta, smoked cups. Another Indian ceramist, Kristine Michael, has highlighted in her 10 cups the concept of being Indian. She has used the film "Dharti" of the 1950s as a motif, to play on the concept of earth, which is after all, the base of all ceramists' work. From New Delhi, the exhibition travels to the Guangdong Museum of Art in Guangzhou, China, then Korea, France and finally, Switzerland. Gabriel Umstatter, curator of the Musée des Beaux-Arts, Geneva and one of the founders of Dialogue Céramique (along with Presset and Anja Seiler of the International Academy of Ceramics), says "The exhibition, with its packing-crate showcases, using modern means of transport, simply follows the ancient Silk Routes which first carried Chinese porcelain to Europe, inspiring emulation of local ceramists and the invention of new techniques." Both Umstatter and Presset are clear that though the kulhad is almost an endangered species, the exhibition is not meant as a last tribute. The enthusiasm of the participating artistes are testimony to the relevance of the little cup even today. Presset mentions that like her, one of the Japanese ceramists who contributed to their project, had also been enchanted enough by the kulhad to retain it. And what of the kulhad the exhibition owes its origin to, you ask? It stands in its own special glass case at the entrance of the exhibition, a garland around it, serving to remind all who enter about that first small step. (The exhibition is on at the Crafts Museum, New Delhi till Dec 31)
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