ISSUE - 143
16th FEBRUARY [THURSDAY]
EDITOR’S DESK
- POOJA DALAL
Amidst all the last minute preparations for end term exams, viva‘s and project submissions; we bring to you one more issue of The IBS Times to keep you abreast of all that goings around the world. It‘s all compressed into a one precise read; served on a silver platter specially for the time pressed MBAites—Bon appetite! Union Law Minister and Congress leader Salman Khurshid is accused of making certain remarks on minority sub-quota and his subsequent posturing to the EC‘s censure. Being at a certain designation, he does not have the right to make certain comments, allege critics. What was the exact charge and the consequences of his actions is discussed in detail in the Cover Story of this week. At a time when the markets are very volatile, there are certain markets that are booming and could be seen as prime investment avenues by the investors. One such avenue of opportunity is commodities market. Our writer has analyzed and commented on the risks, return opportunities, and other niceties that may concern an investor. We hope our Opinion column helps you make a better investment decision or a recommendation to discuss in finance class perhaps! Worried about your future and that of your dependents? Our writer analysis how the Brand LIC has grown to prominence and gained the faith of lakhs of ‗insured‘ and ‗satisfied‘ clientele of the organization. The section talks about how the brand has made it big and to the hearts of every Indian. Have a better look at the ‗policy‘ of life through the Brand Track section of this week. Focus of the week brings to lime light the man behind the UID project –Nandan Nilekani. It tells a saga of how a simple boy from Bangalore grew up to lead one of the best software companies in the country and is now helping the Government to achieve its dream of providing security to its citizens through its project Aadhaar as well as heading Government of India's technology committee, TAGUP. And of course there are our regular sections of Fast Track, Quick Bites, Market Watch as well. There‘s also a sprinkling of the closest news from the campus itself in News @ IBS to give all of you a glimpse of the comings and goings last week on campus! Cheers !! Pooja Dalal
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 APPROPRIATE COMPLAINT AGAINST KHURSHID
-AVLEEN KAUR SARNA
In an unprecedented action, the Election Commission sought the immediate and decisive intervention of the President after it charged the Union law and justice minister Salman Khurshid who is also incharge of minority affairs with an ‗improper and unlawful‘ code of conduct under which he was censured for promising sub-quota for minorities. He promised a sub-quota of nine per cent for minorities in Uttar Pradesh out of 27 per cent reservation for jobs and educational institutions for the other backward classes. This is the first time in the history of the Commission, that a Union Law Minister who has certain administrative control over the EC is being censured by it and that too after giving him a chance for personal hearing. The commission held that Khurshid was addressing the common people at public meetings as the Union Minister and not as a Congress leader and as a Union Minister for Law and Minority Affairs, he has an added responsibility of ensuring that the model code of conduct is observed in letter and spirit so that elections are conducted in a free and fair manner and all political parties enjoy a level-playing field in the matter of their election campaigns. In a terse message EC also said that it hoped that the Law Minister would not to repeat such violations of model code in future.
The commission held that Khurshid was addressing the common people at public meetings as the Union Minister and not as a Congress leader and as a Union Minister for Law and Mi- In his defence, Khurshid through his counsel Abhishek nority Affairs, Manu Singhvi had made three points before the Election
Commission - that the demand was very much a part of the Congress manifesto in the past, secondly that he had made the speech as a Congressman and not as a minister and that the promise was made to minorities and not the Muslims. Thereby, setting aside the congress plea in this regard, the EC said that ‗the above contention is also not tenable for the reason that in the perception of common man, which is of paramount consideration, the respondent addressed them at public meetings as Union Minister for Law and Minority Affairs and not as mere leader of the Congress party‘. Thus, the law minister‘s remarks on the promise of sub-quota for Muslims within the existing 27 percent OBC quota had expectedly created a furore with the Opposition calling it a poll gimmick and a clear violation of the model code of conduct and they considered this verdict from EC as sufficient to demand resignation of Salman Khurshid from government. It also demands that the Prime Minister must clarify his stand on this unconstitutional announcement made by him to give religion-based reservation to minorities especially Muslims and that he had tried to destroy the social harmony and fabric of the country, specifically Uttar Pradesh for political gains. AcPrime Minister must clarify cording to the opposition viewpoint, he was just trying to cause an unfair advantage to the Conhis stand on this unconstitu- gress by this announcement and violated the level playing field on which the entire model code tional announcement made by functions, therefore the complaint stands vindicated. him to give religion-based
On the other hand, the congress downplayed the Election Commission‘s censure of Union Min-
reservation to minorities ister for Law and Minority Affairs although it was admitted that Khurshid had jumped the gun especially Muslims. and should not have made specific announcement about the increasing percentage.
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FAST-TRACK NEWS
THE IBS TIMES -ABHIGYAN SHARMA & RAJ AGRAWAL
Rupee seen down on oil import payments Demand for dollars from oil refiners is expected to weaken the rupee on Monday, and traders would watch the situation in Greece for direction. Traders expect the rupee to open around 49.52 to the dollar and move in a band of 49.36 to 49.81. It fell by 1.45 percent last week, the most in nine weeks, to 49.40/41. The losses would have been more but for suspected dollar sales by the central bank after the rupee hit 49.76 during trade on Friday, it‘s weakest since January 30 (according to Thomson Reuter‘s data).
2G: PM holds meet to discuss apex court verdict fallout Prime Minister Manmohan Singh on Saturday, held a crucial meeting with key cabinet colleagues to discuss the 2G issue in the wake of the apex court cancelling 122 licenses issued during the tenure of former communications minister A. Raja. The meeting held at the prime minister's official residence was attended by union ministers Pranab Mukherjee and Kapil Sibal and also by Attorney General G.E. Vahanvati. The prime minister has sought Vahanvati's opinion on the Supreme Court verdict.
The stock market will go up The average expected gain for the S&P 500 is 6 percent for 2012. The Wall Street Journal surveyed investment strategists from 13 Wall Street firms, who collectively pegged the S&P 500 to close 2012 at 1,334, up from its 2011 year-end mark of 1,257. The forecasts ranged from as low as 1167 (Morgan Stanley (MS), to as high as 1500 (Deutsche Bank (DB). Seven of the outlooks were clustered between 1325 and 1375. If you exclude Goldman Sachs' (GS) forecast of 1250 (which is essentially an estimate of flat performance), only two firms expect stocks to decline this year -- Morgan Stanley at 1167, and HSBC (HBC) at 1190.
Slow India 2012… The year 2012 will be welcomed not with warmth and joy as it is done usually but with trepidation and fear by investors. The financial markets have cast a pall of gloom around the globe, almost feeding the Mayan prediction of gloom and doom in 2012. The domestic woes were magnified due to the sharp decline in growth, rupee depreciation, fiscal deficit and steady withdrawal of foreign institutional investor (FII) funds from the stock markets. The domestic indices are the worst-performing ones among their global peers, down 26 per cent for the year.
Dassault Aviation, Reliance in defense pact Reliance Industries and France's Dassault Aviation have signed a pact for partnering in the defense and homeland security sector in Asia's third-largest economy, a spokesman for the Indian conglomerate said on Sunday. The accord comes less than two weeks after Dassault's Rafale warplanes emerged as the preferred bidder in a $15 billion contest to supply India with 126 fighter jets. India is the world's largest arms importer, with plans to spend $100 billion on weapons over the next decade!
Apple launches new legal attack on Samsung phones Apple Inc raised the stake in an intensifying global patent battle with Samsung Electronics. Apple has asked a federal court in California to block Samsung from selling its new Galaxy Nexus smartphones, which use Google's newest version of Android, called Ice Cream Sandwich. Apple said the Galaxy Nexus infringes on patents underlying features customers expect from Apple products. Those include the ability to unlock phones by sliding an image and to search for information by voice.
The Ultimate Guide to Facebook's IPO Facebook executives have fallen silent. Having filed paperwork on Feb. 1 with the Securities and Exchange Commission to raise $5 billion in an initial public offering, the social network site is now in a ―quiet period‖ where federal rules limit what company executives can say in public.
e-CBOT-An electronic trading platform that gives traders the ability to trade future contracts listed on the Chicago Board of Trade. The CBOT has primarily been regarded as an open outcry market is done.
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THE IBS TIMES Big Year for Tech Mergers Cisco Systems Inc., the world‘s largest maker of networking equipment, estimates that by 2015 the data equivalent of all movies ever made will cross Internet networks every five minutes! In a bid to transform that torrent into profits, a cash rich industry is poised to surpass 2011′s almost $200 billion volume of announced mergers and acquisitions as companies such as Cisco and International Business Machines Corp. search for deals that will boost their capacity to provide new storage, analytics and security services to enterprise customers. The volume of digital information may balloon from 2.7 zettabytes this year!
MF Global's Collapse Has Ranchers Steamed They complain that CME's $100 million fund won't protect them when the next commodities broker collapses Pete Bonds, a 59-year-old Texas rancher, doffed his cowboy hat and stepped to the microphone. He wanted to tell an executive from CME Group (CME), owner of the world‘s largest futures market, what he thought of the $100 million fund set up to help protect ranchers and farmers from another collapse like commodities broker.
European recession The first forecast is that Europe is headed for recession due to the debt crisis and the budget-cutting policies governments adopted to address their problems. The media's conclusion is that investors should avoid European stocks. This prediction is particularly interesting because it's virtually the opposite of what we were hearing in 2008, which was to invest in Europe and avoid U.S. stocks because of financial problems here at home.
Russia reaches ancient Antarctic lake Russia had pierced through Antarctica's frozen crust to a vast, sub glacial lake that has lain untouched for at least 14 million years hiding what scientists believe may be unknown organisms and clues to life on other planets. Sealed deep under the ice sheet, Lake Vostok is one of the world's last unexplored frontiers. Scientists suspect its depths may reveal new life forms and a glimpse of the planet before the ice age. If life is found in the lake's icy darkness, it may provide the best answer yet to whether life can exist in the extreme conditions on Mars or Jupiter's moon Europa.
Iran to announce nuclear progress - Ahmadinejad Iranian President Mahmoud Ahmadinejad said on Saturday that the Islamic Republic, targeted by tougher Western sanctions, would soon announce advances in its nuclear programme. He was speaking on the 33rd anniversary of the Islamic revolution that toppled the U.S.-backed Shah. Tens of thousands of Iranians joined state-organized rallies to mark the occasion. "In the coming days the world will witness Iran's announcement of its very important and very major nuclear achievements," Ahmadinejad told a crowd at Tehran's Azadi (Freedom) Square in a speech relayed live on state television.
Nadal slams French 'campaign' to discredit Spain Rafael Nadal has hit out at what he called a ‗general campaign‘ in France to discredit Spanish athletes by implying their success is due to the use of illegal drugs. Speaking to reporters a day after the Spanish tennis federation (RFET) said it would sue French TV broadcaster Canal+ for "unacceptable and damaging insinuations" in a cartoon about Nadal, the world number two said he found the attacks ‗sad‘.
United seize top spot, Spurs hit five goals Manchester United went top of the Premier League on Saturday after a 2-1 win over Liverpool, with the Luis Suarez-Patrice Evra racism row reigniting, while Tottenham Hotspur beat Newcastle United 5-0. With closest rivals Manchester City not playing until Sunday, Manchester United made the most of the opportunity to leapfrog their neighbors on a day when Arsenal also capitalized on another Chelsea slip-up to climb to fourth.
Badla Trading- Process of buying stocks with borrowed money where the stock exchange acts as an intermediary between buyer and lender. Rate of interest is charged based on demand of the underlying stock. SEBI banned badla trading in 1993 and replaced it with futures trading.
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THE IBS TIMES
OPINION FORUM– COMMODITY MARKET: THE BIGGEST SLICE IN THE PIE! -ATREYEE SENGUPTA It‘s always difficult to gauge an investor‘s appetite and further more is to measure his stakes. Deducing a standardized value of his losses will be as dumb as designing a fixed structure for risk aversion. No one knows the exact mechanism behind the working of a risk taker‘s brain. What do we call that person happily callous or simply an upshot of well informed decision? By the time you ponder over this thought let me give an insight about a much more interesting financial variable- commodity market.
Betting on commodity futures involves taking a call on the prices of important and indispensable commodities such as oil, gold, silver and various other low profile -high growth agricultural commodities as well.
India saw its birth way back in 1875. But thanks to the conservative and unwelcoming mindset it was destined to die young. And then in 2002 the Government of India was more than happy to re -introduce the dynamic instrument. Since then commodity futures market in India has experienced unprecedented boom in the economy. Betting on commodity futures involves taking a call on the prices of important and indispensable commodities such as oil, gold, silver and various other low profile-high growth agricultural commodities as well. Needless to say the entire economy rests on this speculation. Well this statement might be controversial but not anymore after going through the below mentioned facts. Surge in oil prices has been seen to be one of the most underestimated factors as far as relapse of the economy is concerned. 2010 saw an unprecedented 50 % rise in oil prices and then there came stalking the economic slowdown as well even before the genesis of European Financial Crisis. Hence an oil price of $130 barrel a month is certain to strangulate growth thereby pouring in more disturbances for the economy. Bullions like gold and silver too have their own share of ups and downs. A very little known fact is silver is far more volatile than gold. So even historic data and bundles of trading experience falls flat. However more the volatility higher is the return.
Only players with deep pockets can try their fortune in this highly capricious arena of undisputed risks and gains.
Well, appearances are deceptive. So let the instrument be unattractive don‘t miss the underlying opportunity. Well I am hinting at the ―guar-gum‖- a vicious gum extract from the guar seeds used as a thickening agent in various foods. It was unexpectedly promising the highest returns in 2011 amongst various other commodities. But do the HNIs (High Net-Worth Individuals) have much to lose here amidst all these ebbs and flows. Oh yes I forgot to state the unstated rule. Only players with deep pockets can try their fortune in this highly capricious arena of undisputed risks and gains. So the rule is simple in this market – there are no ―rules‖. If today you get the taste of money tomorrow the taste is snatched by someone else. Hence banks, mutual funds, insurance companies and the likes who are supposed to deal with conservative money are automatically ruled out of the game. But let‘s not overlook the bad weather coming. Finance doctors usually advise for patience in such situations like the high correlation between equity and commodity derivatives which calls for a perfect recipe of any macroeconomic uncertainty meaning to say that high commodity prices ultimately end up hitting the stock prices and growth thereby attracting higher interest rates and inflation. Hence a simple advise for the growth-obsessed intelligent investor- try and get the biggest share of the pie as quick as possible because ultimately you end up knowing the price of everything but value of nothing. Nevertheless happy investing!
Earmarking-Funds (or capital) that are set aside to pay for a specific project or event. In some cases, the term is also synonymous with the word ‗flagged‘, or ‗marked‘, especially when used in certain congressional settings .Major financial institutions, as well as state or federal governments, will often earmark funds received from bond issuances to pay for certain projects.
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THE IBS TIMES
BRAND TRACK—LIC: HELPING YOU ENJOY AFTERLIFE
–POOJA DALAL
‗Jeevan ke saath bhi, Jeevan ke baad bhi‘ Wanting assurance against the most unavoidable and evitable happening in life-Death is but just natural by normal precautionary standards. And with the advent of newer financial arrangements, it has actually become possible with insurance contracts. And the intention to buy an insurance policy has been even strengthened further by the admirable advertisements of life insurance companies in India. When we think about life insurance in India, the first image that comes to our mind is that of an oil lamp being protected with the tender hands. This is the symbolism of the level of service that LIC intends to give to its policy holders. Bartering this trust for recollection, people have given a 100% positive brand recall to LIC, i.e. 100 out of 100 people know it, and 93 among them went ahead to say that if they buy an insurance policy, it would be from LIC. Wwe think about life insurance in India, the first image that comes to our mind is that of an oil lamp being protected with the tender hands. This is the symbolism of the level of service that LIC intends to give to its policy holders.
This could as well have been the convention of trusting public sector organisations when it comes to financial services. Most of the Indian‘s are still highly risk averse and thus have a preference to invest in corporations that have sovereign backing. But it‘s not just about the trustworthy mark that has been bequeathed upon it that has made the difference. It also holds the icon of bring generic in the business. Talk life insurance and (despite the fact that there are 35 other establishments to offer the service), people summon up LIC‘s logo in the first place. And this is a result of carefully implemented marketing plans of LIC. They really connect to the people and the conservationist in them and gain their confidence. It is for the same reason that LIC has been the Most Trusted Service Brand in India for five successive years in the Brand Equity's Most Trusted Brands survey. And its reach into the minds and hearts of the customers is not the only measure of the brands‘ success. It has had stellar financial performance too, when other brands in the similar business couldn‘t even accomplish their break even. And strong financials coupled with wide connect has enhanced other businesses of the corporation as well.
Successful businesses build themselves on the basis of exceptional products and services. Even LIC follows the same fundamentals. And thus ‗change‘ and innovation has become an important constant at LIC. It has kept pace with the changing needs of the economy and devised many special insurance policies that are well tailored to the class of customers they are targeted towards. And there are insurance policy plans for all categories of investors. Like there are special policies like Jeevan Pramukh plan for high worth individuals, Jeevan Bharti for women, Jeevan Saathi plan for joint life There are special policies insurance and many more. And it‘s not just that customer‘s know and purchase the policies. The like Jeevan Pramukh plan company takes care of satisfying its ‗internal customers‘ first so that they can in turn dissipate the for high worth individuals, faith. LIC has appointed faculty members to explain the advantages of the latest health plan-Jeevan Jeevan Bharti for women, Jeevan Saathi plan for joint Arogya to its employees. And this internal marketing programme has been very successful in a short time. A branch at Ludhiana became the first one to have all its employees purchase the heath life insurance and many plan. It‘s a very genuine way of instilling the feeling of poise among the customers. more. This larger than life image of LIC inspired IRDA chief to felicitate LIC as a future to creating an industry that people trust. And certainly his vision has come true. LIC today symbolises a safe way to invest money while taking care of Life insurance needs. So now you know where to go to park your funds safely and progressively.
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THE IBS TIMES
QUICK BITES- NEWS THAT CAN’T BE MISSED !
- KRITIKA SETHI
Big Shots… GoAir says Pratt & Whitney deal for $1 billion. PG Jayakumar, chief executive of Dhanlaxmi Bank betting on customer connect to make it click. Coca-Cola cuts prices, Pepsi may follow suit. Axis Bank reappoints Shikha Sharma as Managing Director. Rahul Saighal is new Samsung CMO. Standard Chartered Bank to pay Rs 55K to customer as damages. Axis Bank enters into partnership with DBS Bank.
Company Talks… United India Insurance to cross Rs 8,000 crore premium by fiscal end . Lanco Infratech to raise $750 million by selling minor stake in its power business. Fidelity, others invest $40.6 million in Aptuit Laurus Pvt Ltd , an unlisted pharma company. Not taken any deposit from public since March 2011: Manappuram Finance. L&T Insurance ties-up with Vimmo SEWA for micro insurance . SBI's rating unaffected despite slippage in asset quality: S&P. Kingfisher drives up SBI bad loans; net NPA at 4.6% . SBI to seek re-rating by Moody's post-fund infusion . IDBI Bank syndicating loan for Nayachar power plant. Banks in Bangalore grapple with illegal ATM withdrawals. LIC to pick up 5% stake in Bank of Maharashtra . Mohit Talwar elevated as deputy managing director at Max India . Hexaware founders appoint Morgan Stanley & Credit Suisse to advise on stake sale.
Economy Speaks… Budget 2012: $ 120 billion investment likely in road sector in the 12th Plan: C P Joshi. Budget 2012: Government mulls hiking excise duty to 12% . National permit fee for trucks up 10 per cent to Rs 16,500 a year. Minimum wages to be linked to prices of some essential items . India's determination to continue buying Iranian oil frustrates US. At $ 7.8 billion, RBI $ sales hit 40-month high . RBI issues draft norms on White Label ATMs owned by non-banks. RBI hikes bank rate after nine years to 9.5% .
The Captains of the Ships.. Finance minister– Pranab Mukherjee Cabinet Minister- C.P. Joshi AXIS Bank MD-Shikha Sharma
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THE IBS TIMES
FOCUS OF THE WEEK– THE UID MAN OF INDIA
In 1981, Murthy walked out of Patni following a disagreement with one of the Patni brothers – and naturally, his entire division walked out wit him. The defectors decided to start their own company with Murthy in the lead – the company, of course, was Infosys, and this decision effectively re-wrote the story of the Indian software industry.
Nandan was conferred the Padma Bhushan, one of the highest civilian honors awarded by the Government of India.
- ANKIT SHARMA
Nandan M. Nilekani was born in Bangalore, Karnataka on June 2, 1955 as the younger son of Durga and Mohan Rao Nilekani. Both Nandan and his brother, Vijay, who is elder to Nandan by 8 years, spent their early childhood here. Their father worked as a manager in the Minerva Mills, and was someone who followed the Fabian Socialist ideology, a viewpoint that also influenced Nandan during his nascent years. Their mother, Durga, was the anchor for the family – both kids remember her as a ‗quiet, liberal woman with a modern view point who brought stability.‘ Nandan‘s growing-up years were extremely volatile. He spent his first twelve years at Bengaluru, where he studied at the Bishop Cotton Boys School. He then moved in with his uncle‘s family in Dharwad for a brief while, after his father had been transferred yet again. ―In fact, my upbringing has helped me open my mind towards dealing with unpredictability.‖ Nandan later got into IIT Bombay where he studied electrical engineering. On finishing his term at IIT, Bombay in 1978, Nandan did not, as was the practice then, try and find himself a job abroad – something he attributes to sheer inertia. He did consider applying for an MBA course, but even that fell through as he was taken ill on the eve of the IIM entrance exam. Instead, Nandan walked into the offices of the Mumbai-based Patni Computer Systems to try and find a job there. He was interviewed by N.R. Narayana Murthy – the rapport was immediate and Murthy hired the young engineer right away; neither suspected at the time that the relationship would last long, and get etched in India‘s corporate history. Three years later, in 1981, Murthy walked out of Patni following a disagreement with one of the Patni brothers – and naturally, his entire division walked out with him. The defectors decided to start their own company with Murthy in the lead – the company, of course, was Infosys, and this decision effectively re-wrote the story of the Indian software industry. Infosys was registered as a private limited company on July 2, 1981. Infosys co-founder N S Raghavan‘s house in Matunga, northcentral Mumbai, was its registered office. It was then known as Infosys Consultants Pvt Ltd. Later, Infosys set up its first office in Pune, at Murthys‘ home, moving to Bangalore in 1983 when they acquired their first client, Data Basics Corporation, from the USA. What happened next has been one of India‘s most widely-chronicled and inspiring tales of entrepreneurial success. After serving as the CEO and MD of Infosys from March 2002 – April 2007, Nandan relinquished his position to his colleague Kris Gopalakrishnan, becoming Co-chairman of the Board of Directors. In his capacity as Co-chairman, he focuses on ―key client relationships, being a brand ambassador for the company, and working on transformational initiatives.‖ In January 2006, Nandan became one of the youngest entrepreneurs to join 20 global leaders on the prestigious World Economic Forum (WEF) Foundation Board. He co-founded India‘s National Association of Software and Service Companies (NASSCOM) as well as the Bangalore Chapter of The IndUS Entrepreneurs (TiE). He is a member of the Board of Governors of the Indian Institute of Technology (IIT) Bombay and is also a member of the review committee of the Jawaharlal Nehru National Urban Renewal Mission. Nandan was the Forbes ―Businessman of the Year‖ for Asia in 2007. He, along with Infosys founder (and currently non-executive chairman) N. R. Narayana Murthy, also received Fortune magazine‘s ‗Asia‘s Businessmen of the Year 2003‘ award. He was named among the ‗World‘s most respected business leaders‘ in 2002 and 2003, according to a global survey by Financial Times and PricewaterhouseCoopers. Nandan was awarded the Corporate Citizen of the Year award at the Asia Business Leader Awards (2004) organized by CNBC. In 2005, Nandan was awarded the prestigious Joseph Schumpeter prize for innovative services in economy, economic sciences and politics. He currently serves as the Chairman of the Unique Identification Authority of India (UIDAI). He is also now heading Government of India's technology committee, TAGUP. In 2006, Nandan was conferred the Padma Bhushan, one of the highest civilian honors awarded by the Government of India.
EAFE Index-An index created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia. This international index has been in existence for more than 30 years.
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THE IBS TIMES
NEWS @ IBS—ALL HAPPENINGS AT IBS HYDERABAD
- ANKITA AGNIHOTRI
With less than one month left for seniors to say good bye to IBS, Hyderabad, the seniors were found being nostalgic about their college days, penning down their memories on the board placed in dome area, academic block. At the same time the confusion about choosing electives was found common amongst junior members.
KAIZEN- GUEST LECTURE BY PROF. KARTIKEY ON OPERATIONS MANAGEMENT AS ELECTIVE
A guest lecture was organized by Kaizen on Friday, 10th February, 2012, in order to give insights about Operations Management Subjects. The lecture was delivered mainly by Prof. Kartikey and the doubts of the students regarding combination of subjects, scope of subjects, and course content were collectively solved by Prof. Shashikala, the mentor of Kaizen, Prof. L. Shridharan, Prof. Shankar Narayan and Prof. Amarnath Mitra.
INFINITY STUDIOS- OPEN THEATRE MOVIE AND DHOL NIGHT
A relaxing initiative was taken by club Infinity on Friday, 10th February, 2012 to organize an open theatre movie show of the super hit movie 3 idiots followed by Dhol night, near Taj garden. It was a real stress buster for the students who were bored up by the last component of second semester and the approaching project submission deadlines. This event was the last event by seniors of club infinity and in a way denoted a goodbye to entire 2012 batch of IBS Hyderabad.
FAREWELL COMMITTEE- FAREWELL EVE OF MBA 2012 BATCH The farewell organized on Saturday, February 11, 2012 by Farewell committee of IBS Hyderabad turned out to be a grand one. In order to bid a memorable goodbye to the seniors, junior batch came up with various performances, including band performance by diatribe, cultural performances by Samavesh, play called ‗Jhakaas Kola‘ by Expressions. Apart from these performances there were awards like Mr. and Ms. Popular, Best dressed male and Best dressed female and The best couple award. There were few more interesting category awards given on the spot. The farewell party ended with grand dinner and DJ night.
POORNA SUTRA- ALUMINI REUNION 2012 In the season of making memories, club Poorna Sutra organized the Alumni meet 2012 on Sunday, 12th February, 2012, a step towards ‗revisiting nostalgia‘ for those who were once a part of IBS Hyderabad and making them feel that they are still a part of the same. The event started with fun games by VAPS, followed by Tambola by Prayaas, event by IBS Blues, and lunch. The second half of the day was occupied by diatribe‘s rock band performance, cultural events by Samavesh, and ended with dinner at courtyard.
Obamanomics-A buzzword that describes the economic philosophy of U.S President Barack Obama. Obamanomics calls for lower tax rates for companies that meet certain criteria, such as providing decent healthcare and maintaining a U.S. workforce and headquarters.
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THE IBS TIMES MARKET WATCH
- SWATI VERMA
The upsurge continues to go its way with the Indian stock markets recording positive movement. The Indian stock markets were up by 0.8% during the week. A lower than expected growth in Index of Industrial Production (IIP) at 1.8% in December along with a revised GDP outlook of 6.9% as against 8.4% in the previous year were the reasons of worry during the week. India's trade deficit too went up to uncomfortable levels of US$ 148.7 bn. during the first ten months of the current financial year. The week was also marked by key economic announcements like the under revision of GDP growth outlook to 6.9% for FY 2011-12. This is the slowest growth rate in the last 3 years since the 2008-09 global financial crises and is a cause of worry. This is mainly due to sharp slowdown in manufacturing, agricultural and mining sectors. The IIP number was also declared. It turned out to be lower than expected at 1.8% as compared to November's 5.9%. Market regulator SEBI, in the past few days, brought a number of changes in its listing norms. It has notified the Institutional Placement Programmed (IPP) guidelines to allow companies to reduce promoter shareholding through private placement. This move is expected the aid government in its divestment process. Also, India's trade deficit has soared to USD 148.7 billion during the first 10 months (April-January) of the current financial year putting further pressure on the rupee . The Movers & Shakers of the Week
SURGES
%Change
DOWNFALLS
%Change
IFCI
29.2
BHARTI AIRTEL
-11.0
INDIA INFOLINE
23.4
NCC LTD
-9.1
HOUSING DEV. INFRA
19.4
ADANI ENTERPRISES
-8.2
Piramal Healthcare has acquired additional 5.5% stake in Vodafone India increasing its overall stake to 11% now. However, the additional stake is cheaper as compared to the first stake purchase. Earlier Piramal paid US$ 640 m for 5.5% stake, but this time around, it will have to pay only US$ 609m for the same amount of stake. Larsen & Toubro (L&T) arm L&T constructions has acquired fresh orders worth Rs 18.8 bn during the December quarter. The orders are for various business segments with Infrastructure grabbing the maximum share. The value of infrastructure orders are Rs 10.48 bn. The company has bagged these orders from the likes of Gujarat Water Infrastructure Ltd, the Power and Transmission & Distribution IC. The week saw announcements of some key economic data that was disappointing. However, slowing industrial activity has brought in hopes of a possible rate cut in the near future. The Reserve Bank Of India (RBI) could resort to reducing interest rates thereby providing a fillip to the slowing economy. As per RBI, it would be considering rate cuts if the government shows some commitment on fiscal consolidation Global Cues: The world stock markets exhibited a mixed performance during the week. While Asian stock markets including India were up, the stock markets in Europe and US were down on continuing concerns in Europe. The positive news that Greece would cut its costs and keep from defaulting on its debt also could not push the stocks up much. The earnings season in the US has been a mediocre one and there was news about S&P downgrading 34 Italian banks.
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THE IBS TIMES MARKET WATCH 6 FEBRUARY 2012
7 FEBRUARY 2012
8 FEBRUARY 2012
9 FEBRUARY 2012
10 FEBRUARY 2012
Sensex
17,707.31
17,622.45
17,707.32
17,830.75
17,748.69
Nifty
5,361.65
5,335.15
5,368.15
5,412.35
5,381.60
DJIA
12,845.13
12,878.20
12,883.95
12,890.46
12,801.23
HangSeng
20,709.94
20,699.19
21,018.46
21,010.01
20,783.86
FTSE100
5,892.20
5,890.26
5,875.93
5,895.47
5,852.39
Gold ($/oz.)
1720.10
1745.30
1733.50
1730.80
1722.10
Crude($/bl)
113.40
114.68
115.18
116.27
-
INR v/s USD
48.4450
49.1079
49.4103
49.5083
49.7043
INR v/s EURO
63.6795
64.2798
64.9978
65.6490
65.9765
- FIGURES NOT AVAILABLE Oil ETF -A category of exchange-traded funds that invest in companies engaged in oil and gas discovery, production, distribution and retail. Some oil ETFs may be set up as commodity pools – with limited partnership interests instead of shares and invest in derivative contracts such as futures and options. The benchmark target for an oil ETF may be a market index of oil companies or the spot price of crude itself, and funds may be focused on just United States.
BUSINESS JARGONS BY– KRITIKA SETHI
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DisclaimerThis newsletter is just a compilation of news from various sources. Thus, readers are expected to cross-check the facts before relying upon them. Though much care has been taken to present the facts without error, still if errors creep in, necessary feed back will be always welcomed. Editors will not be responsible for any undertakings. The newsletter is not meant for sale and hence, no part of the newsletter should be used without the prior permission of the editorial team.
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 TEAMABHIGYAN SHARMA, ANKITA AGNIHOTRI, ANKIT SHARMA, ATREYEE SENGUPTA, AVLEEN KAUR SARNA, KRITIKA SETHI, POOJA DALAL, RAJ AGARWAL, SWATI VERMA.
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