ISSUE - 106
19th JANUARY [WEDNESDAY]
EDITOR’S DESK
- TANIYA BANERJEE
„A memorable week‟, that is how we would all remember the week that just went by. It will remain so because of several events that occurred throughout those seven days, and we have tracked down all those major events once again for all our readers. „The Banned Billionaire‟, yes I am talking about Anil Ambani who was recently banned from trading in the secondary market for almost a year. Will this measure have serious effects? Or is it one of those events which is all hype and no substance. Our cover story brings to you the complete picture. Terrorism is an ever growing phenomenon which is wrecking havoc all around the globe. But it has also been colored with religion bias. Only a particular sect of people belonging to one particular religion are believed to be terrorists, well this myth will hold no good once you go through our Opinion column, where we will prove that terrorism does not have any boundaries in terms of religion, caste, color or creed. This time we are tracking the emergence and success story of Nivea, the famous skincare brand. Many a small details which you thought were associated with the brand might actually not be true! Our Brand-Track section brings all the facts on this legendary brand. Raxit Girishbhai Seth, this name does not ring a bell, does it? Well that is because he is one of the numerous little known entrepreneurs who are trying to make a difference to the society by the sheer brilliance of their ideas. Get to know more about him in our Focus of the week section. One of the other reasons why this week will remain etched in our memories forever is that we bid our beloved seniors farewell. Emotions ran high at the event as realization finally drove in that the world outside waits with open arms for them and they would have to finally bid adieu to IBS, Hyderabad! We also had a volley of other celebrations, from Lohri to Pongal and the entire campus seemed to be basking in the festive mood. All of this and more awaits you in this issue and I sincerely hope you enjoy reading this issue too. Cheers Taniya Banerjee
EDITOR COVER
1 OPINION 2 BRAND
5 FOCUS 6 NEWS @ IBS
8 9
FAST-TRACK
3 QUICK BITES
7 MARKET
10
THE IBS TIMES
COVER STORY– THE BANNED BILLIONAIRE
- ADHIRAJ SOOD
th
The world‟s 36 richest man last year, Mr. Anil Ambani was barred from trading in the secondary market till December 2011, in a long-running regulatory inquiry into some of his companies. In the settlement that was agreed between the Securities and Exchange Board of India (SEBI) and Mr. Anil Ambani, two companies of Mr. Anil Ambani group, Reliance Infrastructure and Reliance Natural Resources Ltd. (RNRL) were also banned investing in the stock market. Along with Mr. Anil Ambani, four other officials are also banned, namely in order, include Reliance Infrastructure executive vice chairman Satish Seth and three directors – S C Gupta, Lalit Jalan and J P Chalsani. Settlement was made in accordance with the SEBI consent mechanism; without admission or denial of guilt.
Settlement was made in accordance with the SEBI consent mechanism; without admission or denial of guilt. The settlement was made in the interests of the investors to pre-empt unnecessary and time consuming litigation. The term and conditions of the order included barring of Mr. Anil Ambani and his four other officials to invest in the secondary market for a period of one year, a consent fee of INR 50 crore needs to be paid (fee of INR 25 crore would be paid by RNRL and its directors and by Reliance Infrastructure and its directors each), which is the highest consent fee paid for any case related to any corporate group. The regulator also added that the two companies will implement the policy of rotation of statutory auditors and directed them not re appoint auditors for a period of three years, starting the fiscal 2011. SEBI began its probe after it received information that some of the money raised through external commercial borrowings (ECB)s and foreign currency convertible bonds (FCCB)s by group companies had been used to invest in the stock market and that investment vehicle abroad had been used for this. The regulators conducted investigation to find out whether the entities had violated the SEBI Act, SEBI (Prohibition of Fraud-lent and Unfair trade Practices Relating to Security Market) Regulations and foreign institutional investors (FII) norms and found out that Reliance Infrastructure and RNRL had misrepresented the nature of investments in yield management certificates/deposits, and the profit and losses in their annual reports for fiscal years 2007, 2008 and 2009. They also found misuse of FII regulations. With the case now closed brokers are hoping that the two companies would now catch ground, after RNRL and Reliance Infrastructure losing 1.11% and 1.4% respectively on the Bombay Stock Exchange.
During a press conference in Mumbai Mr. Ambani lashed out at the media for misinterpreting market regulator SEBI‟s directive; he further added that, “SEBI has not banned RNRL and Reliance Capital brokers are hoping that the from the capital markets”. Reliance Infrastructure can invest in mutual funds, primary issuances and two companies would now unlisted securities. They also have full flexibility to raise funds and carry on their growth plans. catch ground, after RNRL and Reliance Infrastructure The question that now remains to be answered is, whether the inability to invest in the secondary marlosing 1.11% and 1.4% ket would have much implication? Since they can still invest in primary market and also, other firms respectively on the Bombay controlled by Mr. Anil Ambani, but not directly linked to this case can still invest in primary market. Stock Exchange. With the case now closed
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FAST-TRACK NEWS
THE IBS TIMES -VASUNDHARA ARORA th
IBM gets 5,896 US patents in 2010; highest for 18 year in a row
According to the IFI Patent Intelligence, which maintains US patent databases, the global IT giant IBM received 5,896 patents in the US in 2010, topping the list of world's most inventive companies for the 18th consecutive year. The patents granted to IBM in 2010 are for a range of inventions such as a method for gathering, analyzing, and processing patient information from multiple data sources. They also include a technique that analyses data from sensors in computer hard drives to enable faster emergency response in the event of earthquakes and other disasters.
Citi to compensate all swindled
CitiBank is working on a „fair mechanism‟ to compensate all clients of Shivraj Puri, the rogue relationship manager who cheated several wealthy investors. The Bank is in the middle of reconciling the accounts of these HNIs, who either put their money in sham investment schemes floated by Puri or trusted him to manage their savings. Of Puri‟s clients, 12-13 will be approached by the Bank, next week with some settlement terms to help them recover the principal amounts.
Rupee weakens on stock slide, inflation
The rupee weakened on Friday as a sharp sell-off in domestic shares coupled with demand for the US unit to swap for euros after the single currency's global rally, weighed on the local currency. Traders said dollar demand for some defence-related purchases also exerted downward pressure on the rupee. They also mentioned that banks sold rupees to buy dollars, which were then swapped for euros, after the single currency‟s global rally. The euro hit a one-month high against the dollar on Friday, extending a rally due to tough talk on inflation from the European Central Bank and an easing of debt worries after solid bond sales by Portugal and Spain.
China raises banks' reserve requirement ratio by 50 basis points
China's Central Bank raised lenders' required reserves on Friday, for the fourth time in just over two months to make good on its vow that inflation fighting will be a top priority for the year. The 50-basis -point increase, effective from Jan. 20th, will raise the reserve requirement ratio for China's biggest banks to a record high of 19.5%. By forcing banks to lock up more of their cash with the central bank. Beijing hopes to drain the economy of excess money and tame rising prices, which it worries, may stir social unrest.
Bears return as FIIs shun Indian markets
The two-year investor ecstasy over India‟s macroeconomic growth is slowly giving way to agonizing cries over inflation and interest rates. Indian benchmarks have underperformed major developed and emerging markets since the macro situation turned shaky in the past few months. Investors are worried about soaring prices that could force a reluctant RBI to resume raising rates after doing so, six times last year. FIIs in India are poised to slow from the record $29 billion in 2009, as overseas investors prepare to benefit from safer developed markets, with demand reviving in the US, including corporate action in the form of takeovers.
World Bank lends $1.7b for roads, fighting cyclones
The World Bank announced $1.72 billion in loans to India, including $1.5 billion to build 24,000 km of rural roads across seven states of the country. The global leading agency will also provide $255 million to the first phase of a project to mitigate effects of cyclones.
Amended Return – A return filed in order to make corrections to a tax return from a previous year. It can be used to correct errors and claim a more advantageous filing.
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THE IBS TIMES Forces in Valley to be cut 25%
After Home Secretary GK Pillai indicated a 25% reduction in security personnel in Jammu and Kashmir, Army Chief General VK Singh said it did not feel the need to cut down troops in the state and that a decision would be taken in consultation with the Unified Command. The Army chief also said care will be taken to ensure that „extra pressure‟ was not exerted on his „already-stretched‟ deployments if at all the question of troop-reduction arose.
104 killed in Sabarimala stampede, 50 injured
At least 104 Sabarimala devotees were killed and over 40 injured in a stampede when a jeep crashed into homebound pilgrims at Pulmedu in Kerala's Idukki district, in the worst tragedy to strike the worshippers of the famed shrine in a decade. Most of the victims who perished were from Tamil Nadu, and Karnataka.
Investors give thumbs down to iGate-Patni deal
A day after iGate announced its acquisition a 63% stake in Patni Computers, there was a major selling pressure on Patni stock which dropped to Rs. 446 from Rs.464 on the previous day‟s closing. Shareholders are concerned that acquisition of a much larger and older Patni by a younger and smaller iGate may lead to major integration issues for the combined entity.
Mayawati doles out Rs 4,000 cr projects on 55th birthday
Apparently with an eye on next year's Assembly elections, Uttar Pradesh Chief Minister Mayawati unveiled over 600 projects worth Rs 4,000 crore on the occasion of her 55th birthday today. She also announced the implementation of Janhit Guarantee Act, aimed at making government officials accountable to public and ensuring timely delivery of services, especially those related to dalits, poor and the down trodden.
Mahendroo granted bail in CWG scam case
Delhi court granted bail to CWG Organizing Committee Chairman Suresh Kalmadi's close aide, Sanjay Mahendroo, who was arrested for alleged bungling in the Queen Baton's relay in London in 2009. Mahendroo, a Joint Director General in the CWG OC, has been in jail since November 15th last year, after he was arrested along with his colleague T S Darbari. Special CBI Judge O P Saini enlarged Mahendroo on bail after CBI failed to complete the investigation and file its charge sheet in the case within the stipulated 60 days period after registration of the FIR.
India won thrilling Jo`burg ODI by a run
India came up with an amazing performance to win the cliffhanger of a match by a run to tie the five match ODI series 1-1 on a thrilling day ruled by bowlers. Fans at Johannesburg were treated to some quality pace bowling by both the teams while batsmen failed to flatter and the result was a thriller game for a fully packed Wanderers Stadium. Munaf Patel was adjudged Man of the Match for his superb bowling under pressure, with four wickets in his kitty. The final score in the match from India was 190/10 in 47.2 overs and South Africa could manage only 189/10 in 43 overs.
Dominant Rajasthan win maiden Ranji Trophy title
Giant-killers Rajasthan notched up their maiden Ranji trophy title after defeating hosts Baroda on the basis of their first innings lead in the finals of the Super League cricket tournament here on Saturday. Resuming their second innings at 201 for four, Rajasthan amassed 341 in 129.1 overs and then reduced Baroda to 28 for four in 14 overs with Deepak Chahar wrecking havoc with three wickets in his seven overs for 15 runs. Teletax - A fully automated phone service that offers prerecorded messages on various tax topics for callers. Teletax covers about 150 different tax-related issues commonly faced by taxpayers, such as who must file, tax credits, retirement accounts and payment arrangements.
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THE IBS TIMES
OPINION FORUM– SAFFRON TERROR: MYTH OR REALITY
- RAJAT MONGA
Saffron Terror: a controversial phrase used to describe acts of right-wing terror in India, allegedly inspired by Hindu nationalism.
In the early hours of a cold November day last year, NIA agents gave a final touch to their plan as they got ready to arrest a man critical to one of their cases
Just as we do not brand all Muslims as terrorists and not all Muslim organizations as radical, it would be wrong to brand an organization or party communal and use names like saffron terrorism
In the early hours of a cold November day last year, NIA agents gave a final touch to their plan as they got ready to arrest a man critical to one of their cases. They did get their man and after his confession last week at a Delhi court the pieces of puzzle are coming together. The man I am talking about is Swami Assemanand, member of Abhinav Bharat – a radical Hindu organization. And if the police is to be believed the mastermind behind the blasts in Malegaon in 2006 and 2008, on Samjhuta express in 2007, in Ajmer Sharif in 2007 and Mecca Masjid in 2007 is Swami Assemanand, a self styled god man, met Sadhvi Pragya, who is now behind bars for her role in the Malegaon case, somewhere in 2003 at one of his meetings. The ideologue was clear- something had to be done to curb the growing menace of Islamic terrorism and the route was violence. These two along with Indresh kumar – a senior RSS leader and pracharaks in RSS decided on the targets for their bomb with an aim to cause casualties to Muslims. In all about 150 lives where lost in these blasts. This confession has come as a great relief for the government which was forced on a back foot for its economic mismanagement and corruption. The congress has over the last few weeks crafted out a strategy of how to exploit this for their political gain. Digvijay Singh as part of this strategy has been making some very controversial and even absurd remarks. His first risqué statement was when he released and supported a book that claimed Mumbai attacks were funded by CIA and carried out by RSS to malign name of Muslims. Soon there was another one, Hemant Karkare-the slain ATS chief according to Mr. Singh had spoken to him over the phone about threat to his life from Hindu radicals a day before he was killed. Even Sonia and Rahul Gandhi have made remarks on this topic. Rahul as a matter of fact went as far as comparing RSS with SIMI. The reason is quite simple. With rising food prices and rampant corruption the government needed something to divert attention and what better then to play with the fear in the hearts of there votebank-Muslims. Congress is trying to tell to Muslims-look forget about the price rise and corruption as long as we are in power you are safe. Is it right to keep RSS in the same category as SIMI and call it a radical Hindu organization that should be banned? Is it really saffron terrorism? I do not think so. RSS has been in existence for over a long period of time and its ideologue is quite different from what is being portrayed. As its chief recently said “Hindutva is all about embracing all the religions and it shuns violence”. Sangh pracharaks have always come forward to help the society in time of need, be it during Gujarat earthquake or the Tsunami. SIMI on the other hand is a terrorist outfit with the single point agenda of killing people. Agreed a few people who were part of these blasts had allegiance to Sangh but they were asked to leave once there intent was discovered. Just as we do not brand all Muslims as terrorists and not all Muslim organizations as radical, it would be wrong to brand an organization or party communal and use names like saffron terrorism because of the acts of some people-just because we want to show the world that we are secular. Rules are same for everybody. Right?
Paris Pair– The nickname for the U.S. Dollar/French Franc currency pair prior to France's conversion to the Euro. Since the franc was replaced by the euro, there is no modern equivalent to the Paris Pair.
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THE IBS TIMES
BRAND TRACK—NIVEA: SNOW WHITE IN BLUE
-SUPRIYA MAMGAIN
Been there done that! This is what, I presume, the marketers behind the brand Nivea would want to say to all of their competitors, after all it is a brand which continues to be one of the most successful brands in the skin care market. With its presence in 150 countries, the blue and white packaging is hard to ignore! The brand was born in the German company Beiersdorf in 1911 where its owner, pharmacist Dr. Oscar Troplowitz, had spent years to develop the formula for the cream. Mr. Troplowitz‟s hard work paid off as Nivea became the world‟s first stable oil-in-water cream!
"In many countries, consumers are convinced that Nivea is a local brand, a mistake which Beiersdorf, the German makers, take as a compliment."
The cream soon after its invention was launched in beautiful yellow tins which were made in Art Nouveau (French for New Art, popular style of that era) style. The advertising of the brand started with a poster, designed by famous poster artist Hans Rudi Erdt in 1912. The poster stood out with the theme “with the likeness of a lady”, which projected the qualities of the “perfect women” of that period, who were tender and fragile. It was in 1919, that the brand started to expand as it introduced new products such as powder, hair milk, shaving creams, facial toner and tanning oils. Since then the brand seems to have moved forward as it has grown from being a signature product to having a portfolio of over 300 products with 14 product categories, including various sub brands such as Visage, Baby, Sun and Body. The brand other than being known for its Reliability, Trust and Accessibility, is also known for its visual appeal. The Nivea color scheme, blue background with white writing, came into existence in 1924 when it had decided to go for a completely new and minimalistic packaging design. This was the time when the brand positioned itself around people who were active and not only the elegant ladies who had earlier appeared in its advertisements. Speaking about the color blue, is it sky blue, royal blue or any other blue? The answer to this should be a note in every branding enthusiast‟s diary as it highlights the extent to which a company would promote its unique brand identity. The blue, called „Ivocart NIVEA Blue B65711‟ is the result of a complex development process, to create the color exclusively for Nivea!
In 2010, Nivea grabbed the opportunity to promote its Nivea for Men, as Beiersdorf signed a 4 year multi million pound deal with the England football team
The brand has a portfolio of interesting advertising campaigns including the „crème de la crème‟ (cream of creams) campaign as the brand stood against the more expensive products offered by other manufacturers, who targeted it only to those women who belonged to the elite class. Therefore, Nivea became the first mass market skin care product. In 1973, the „only me‟ campaign kicked off where Nivea again chose to stick to the popular style of painting of that period- the child-like naïve painting style, which underlined the benefits of using Nivea. In 2010, Nivea grabbed the opportunity to promote its Nivea for Men, as Beiersdorf signed a 4 year multi million pound deal with the England football team. This was a great move for Nivea as it became the first official supplier of the facial skin range for footballers ahead of the 2010 FIFA World Cup. The brand name Nivea, derived from the latin word, Nivis, meaning „snow white‟, has indeed done justice to the product. The brand has carved a niche for itself as it stands out in the clustered market of the skin care products. It is an inspiration for all the brands who want to sustain their legacy or the ones which want to start one. The brand has not disappointed its fans (including me) as it continues with its universal brand identity of being the caretaker of skin.
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THE IBS TIMES
QUICK BITES- NEWS THAT CAN’T BE MISSED !
- RINI CHATERJEE
Big Shots… Disney's Tap Tap game crosses 6 million downloads. Facebook pays $8.5 million to acquire the Internet address 'fb.com' for internal use by its employees. Motorola XOOM Android Tablet named Best in Show at Consumer Electronics Show 2011.
Company Talks… iGate to acquire Patni Computer for $1.22 billion. IndiGo books a fleet of 180 jets for $15.6 billion. Reliance Infrastructure and Reliance Natural Resources settle row with SEBI and agree to pay Rs. 50 crore. Internet services provider Spectranet will invest Rs.500 crore by offloading stakes to increase broadband infrastructure and create hot spots in India. PVR pictures to invest Rs.125 crore to sign distribution deals with production houses. Uninor told to pay 60% penalty to Department of Telecom. Toyota Motor Corp. on schedule to sell hydrogen cars by 2015 as an alternative to battery powered models coming soon. Hero agreed to buy out Honda‟s 26% stake in two-wheeler joint venture to compete against market leader Bajaj Auto. DuPont to buy Danisco for $5.8 billion to add enzymes.
Economy Speaks… At $14 trillion, US Govt. debt surges to all-time high. Indian IT firms to see strong growth in Q3. Trade unions ask Finance Minister to ban future trade in food items. FDI in services sector dips 30% in April-October 2010. India‟s export of milk powder in 2011 to grow by 87.5% due to increased production of milk. Index of Industrial Production (IIP) plunges to an 18-month low of 2.7%; Finance minister calls the dip „worrying‟. Corn surges to 30-month high by 1.7% to $6.42. Gold declines after Portuguese bond sale. Railway freight traffic up by more than 3% in April-December 2010.
The Captains of the Ships.. CEO, Vodafone India - Marten Pieters Motorola, Marketing Head, India –Jatin Ahluwalia CEO, Disney India – Mahesh Samat CEO, Wall Street Journal/Dow Jones -Peter R. Kann CEO Google - Eric Schmidt
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THE IBS TIMES
FOCUS OF THE WEEK– THE REAL SLUMDOG MILLIONAIRE
It was an evening, about 6:30 pm. A person was standing at bus stop outside Borivli Railway Station waiting for his regular bus
He has a reputation of aggressive cost-cutting. Hurd said he believed in what he called ‘pay for performance’, that is the employees had a major chunk of their salaries ‘at-risk’, which got paid only when the company's performance measured up.
- NEHA DASSANI
It is said entrepreneurs are not born; they have to be unlocked within us. Raxit Girishbhai Seth, is one such person whose thinking has given power to 42 million Mumbaikars. Raxit Sheth, a sportive youngster from Mumbai as he says is „just enjoying bootstrapping time‟. He loves a lot of things- Hacking, Helping, Tweaking, Tweeting and moreover he feels he is a true Mumbaikar, and he loves Mumbai! After graduation, he has been toying with several ideas including UGC driven poetry site. He even won the Y! Hack day competition. He is not happy with the fact that India is providing IT/Software products and services to the whole world, but is lacking products which could make the life of Indians „easier‟. Raxit, the founder of Mobile4Mumbai narrates a very interesting story on being asked “How did they start”; a brief version of the story goes like this: It was an evening, about 6:30 pm. A person was standing at bus stop outside Borivli Railway Station waiting for his regular bus. A lady came to him and asked, "Which bus should I take to go to Don Bosco?”. The person recommended a particular bus. Still the lady looked confused and asked a few more people to be confident of the bus to take. There was a software engineer, who was standing and watching all this. He thought would not it be amazing if people had information about Bus routes at their fingertips, though these information can be provided by just dial, booklets and magazines but it is not feasible to access it everywhere and every time without using internet and GPRS. Mobie4Mumbai provides solution to this problem. Mobile4Mumbai lets you download a software made on java platform, which is compatible even with the cheapest available cell phones (< Rs.2500).It is a software that provides you with information on a bus in Mumbai within 10 key strokes and in as less as 10 seconds. The product „Mobile4Mumbai‟ has been accepted by a large number of people in a very short time frame. On being asked “what sets them apart” Raxit quotes the following “First mover advantage, engagement of end users to contribute, define and evolve our product for better simplicity, word of mouth marketing” . Raxit also lays great emphasis on creating value to the end user. Raxit sums up his entrepreneurial experiences saying “Everything is uncertain but just keep your feet firmly on ground. We are budding entrepreneurs, we will face challenges, it is how we face these challenges will make our future. Dream and Live your dream, Execution is the key. Create a win-win for all your stakeholders.” In the end, being inspired by the story myself, I would like to quote a famous saying by Sanjeev Bhikchandani “There is nothing like failed entrepreneur. You fail only if you quit. Till then you are not successful yet…”
Acquisition Indigestion- A slang term describing an acquisition or merger in which the companies involved have trouble integrating with one another. Acquisition indigestion may also describe a situation in which the purchasing company has difficulty making the most of a takeover.
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THE IBS TIMES
NEWS @ IBS– ALL HAPPENINGS IN IBS HYDERABAD!
- SANDEEP ASRANI
This week has been the most eventful week of this college, as a lot of activities took place in various spheres. There was action, drama, flow of emotions – both high and low, both on and off the field. It was a week filled with celebrations, with people celebrating their placements, festivals, tournaments and to end it off with the Grand Premiere of the movie “Farewell to Batch 2011”. We also saw the handing over of a few clubs to the junior batch. In all, it‟s not the end of something but just the beginning of a new era. Don‟t cry because it‟s over, smile because it happened.
BRAND LOYALTY? : A PERSPECTIVE BY ADmire On 11th January 2011, ADmire, the advertising and promotions club, organized a guest lecture where students got an opportunity to interact with the VP, Head of Office, O&M, Hyderabad, Mr. B. Ramanathan. The event was held in the auditorium and was attended by both the batches of MBA and for the first time the batch of BBA was also called upon. He started by sharing how the notion of brand loyalty is becoming archaic because of the increasing number of choices that the consumers have these days. After that he took the discussion to a whole new level and steered the discussion towards brand Rajnikanth. He described how consumers‟ products can learn from the brand that Rajnikanth has created for himself. He stressed upon how the tag lines play a crucial role in increasing a products‟ impact. To drive home his above point he showed how the dialogues of Rajnikanth were repeated so often that they left a deep impact on the consumers. The students just loved the short clips and could connect to whatever he was saying.
PONGALOO PONGAL: THE TAMIL SANGAM GROUP Dhoti‟s and Sarees was the fashion of the week. The Tamil Sangam group of IBS put up an outstanding show depicting the way the harvest festival „Pongal‟ is celebrated in south India with skits and dances. The show was held in the auditorium on the previous day of pongal which included events such as traditional folk dances - a periodical evolution of Tamil dance in Tamil cinema, a puppet dance, a classical dance, vocal singing, and a fashion show depicting love in Tamil culture. This 2 hr program which started at 7 pm kept the crowd enthralled right till the end. The actual ritual of the pooja and making of the pongal took place on day 2 at the dome area of the academic block. The academic block was decorated with kites and beautiful „Kolum‟ (rangoli) which was the replica of a village in tamil nadu. A priest conducted the pooja worshipping sun god and also the cow which traditionally marks the occasion. The delicacy „sweet pongal‟, from which the festival derives its name, along with sugarcanes were offered to god and distributed as Prasad. The unique game of “uriadi" which involves breaking of an earthen pot filled with coins and tied to a moving string , by blind-folded people with a help of a stick, attracted faculty and students who eventually played the game until the objective was achieved.
LOHRI: SAMAVESH The harvest season has set in and so have the celebrations mood in IBS. This week we also saw the festival of “LOHRI” being celebrated. Delicacies such as “Chabeel” and “kada ka Prasad” were distributed at the mess on this occasion. Apart from that an entertaining cultural show was also conducted in the auditorium with the punjabhi mundas and kudis performing at their best. This was followed by a pooja and subsequently a procession around the campus with people dancing to the tunes of the dhols. The traditional ritual of burning the khatis(born fire) and putting mongphali(peanuts) in it was organized at the ground beside the parking lot. No event in IBS is complete without the Dj scrabbling a few tracks, and this was no exception too.
MAA MAIN AA RAHA HU: FAREWELL 2011 The Bollywood Premiere theme that was set for the seniors to walk on the red carpet was one of the most talked about and most awaited event of this week. It was a bajao night with music, dance, and a performance by the most fan followed club „Diatribe‟. Apart from this we had Makanshi Agarwal who choreographed a play cum dance performance that took the seniors down memory lane and left some seniors with moist eyes. The event started off with a speech from our Director, Dr. D.S.Rao who ended his speech by announcing it officially about the convocation ceremony that is scheduled to be held in March.
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THE IBS TIMES MARKET WATCH
- SAINYAM KUMAR
The market seems to be sitting on the edge now. With two consecutive weeks of being the biggest loser among the key markets in the world, the investors seem to going in for large scale profit-booking. Indian markets lost 4% during the week. Inflation, although eased, still stands tall at 16.91% and is putting pressure on RBI to further tighten the monetary policy. If RBI follows the trend, it will be 7th time that it would increase the interest rates, which will make it more expensive for the industries to produce. These steps led to 2.7% IIP figures for November and let‟s hope the situation doesn‟t worsen. The bear seems to coming into the picture so rapidly that even a number of companies‟ announcement of robust Q3 results could not stop the indices from following the same pattern of negative growth. Even the defensive stocks like Oil & Gas took a hit during this week. Among the corporate news, the Q3 hogged the limelight with Infosys‟ net profit rising by only 2.5% during the 3 months ending December 2010. Apart from the slow rate of growth, employee retention also gave a headache to the company as the attrition rate reached 17.5%. SAIL was another big shot that came out with the results with the sales of the company rising by 15% but the rising prices and resulting increased salaries meant that the company‟s operating profits came down by 10%. Another sector that is being affected by inflation to a large extent is auto. After Tata‟s move to increase the prices of its vehicles from Rs. 3000 – 15000, Maruti seems to be thinking on the same lines. The company is sure that they are going to increase the prices but the coming week will tell the extent to which this is going to happen.
The Movers & Shakers of the Week
SURGES
%Change
DOWNFALLS
%Change
REI. AGRO LTD. GRASIM
3.4 3.2
KOUTONS RETAIL KSK ENERGY
-18.6 -17.0
PRAJ IND.LTD
2.9
PANTALOON
-15.6
Global Cues: Apart from China, the key markets of the world witnessed a very healthy week. Europe led the charts as a result of successful bond auctions held in Italy and Spain. With the domestic demand getting back on the rise, U.S. seems to getting back on the track and the U.S. markets rose by 1% during the last week.
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THE IBS TIMES MARKET WATCH 10 JAN 2010
12 JAN 2010
13 JAN 2010
14 JAN 2010
15 JAN 2010
Sensex
19,224.12
19,196.34
19,534.10
19,182.82
18,860.44
Nifty
5,762.85
5,754.10
5,863.25
5,751.90
5,654.55
DJIA
11,637.45
11,671.88
11,755.44
11,731.90
11,787.38
HangSeng
23,527.26
23,760.34
24,125.61
24,238.98
24,283.23
FTSE100
5,956.30
6,014.03
6,050.72
6,023.88
6,002.07
Gold ($/oz.)
1,376.00
1,381.30
1,388.00
1,374.00
1,361.80
Crude($/bl)
91.33
92.92
94.23
93.96
*
INR v/s USD
46.3900
46.0395
45.8412
45.6781
45.6538
INR v/s EURO
59.8923
59.4578
59.3612
59.4779
60.2402
* FIGURES NOT AVAILABLE Bullet Dodging- A form of option granting in which the award of options is delayed until a piece of bad news becomes known to the public and the stock's price falls. Because an option's strike price is often determined by what the underlying stock's price is on the grant date, waiting for the stock price to drop allows option holders to gain BUSINESS JARGONS BY– TANIYA BANERJEE
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SourcesThe Economics Times, The Hindu Business Line, Times of India, Business Standard, Financial Ex-press, Financial Times, Business Week, Business World, The Economist, Wall Street Journal, Bloomberg, Reuters, Moneycontrol.com, Vccircle.com, yahoofinance.com, Business Today, India Today, Investopedia.com, Wikipedia.com, DNA, The Deccan Chronicle, The Hindu, The Tele-graph.
EDITORIAL TEAMADHIRAJ SOOD, NEHA DASSANI, RAJAT MONGA, RINI CHATERJEE, SAINYAM KUMAR, SANDEEP ASRANI, SUPRIYA MAMGAIN, TANIYA BANERJEE, VASUNDHARA ARORA
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