ISSUE - 124
1st SEPTEMBER [THURSDAY]
EDITOR’S DESK
- TANIYA BANERJEE
End of an era of successful leadership is what I would like to call the recent step-down from the post of CEO by Steve Jobs. An enigma. His risk taking abilities and innovative streak has made Apple the brand that it is today. Will his successor continue the legacy or will the company face hurdles in times to come. Get the complete picture in our Cover Story. The flavor of the season being politics and politicians we too are making no exceptions here. In our Opinion Forum this week we delve into the trivial issues that always seem to strike a connecting cord with our politicians much important topics taking a sideline. Get to see an array of such incidents and our writer‟s opinion on it. Lamborghini! The name itself signifies class, power, majesty. Get to know many an unknown facts about this brand here this week on Brand Track. The strategies adopted by it to surf through time and competition are noteworthy and have been covered here this week in detail. Gold ETF funds is our Focus of the Week this time around. With the financial markets all over the globe suffering jitters permeated through the US crisis. Commodities like gold seems to be an investor‟s safest bet now. Get to know more about these financial instruments here this week. Moreover we bring to you again our regular sections of Fast Track, Quick Bites, News @ IBS and Market watch to enrich your knowledge further.
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– APPLE OF OUR ―I‖ STEVE JOBS
- KRITIKA SETHI The man who made Apple the most valuable company in the world has finally hung his shoes. This innovative, eccentric man who believed he knows what customers want was the reason for Apple‟s meteoric rise in the last 10 years . Under his leadership, Apple has created a cult status for itself. And now once he has resigned from the post of the CEO, a serious question about the company‟s future is being raised. Will history repeat itself when in 1985 Jobs was forced to quit the company only to come and revitalise the flagging corporation?
Steve Jobs belongs to the league of famous college drop outs that include Bill Gates (Microsoft), Larry Ellison (Oracle),Michael Dell (Dell) And Richard Branson (Virgin Group).
Steve Jobs belongs to the league of famous college drop outs that include Bill Gates (Microsoft), Larry Ellison (Oracle), Michael Dell (Dell) And Richard Branson (Virgin Group). After coming back to the company Job‟s first task was to revitalize apple‟s computer business. For starters, in 1998 Apple launched his iMAC personal computer, which features a sleek, egg shaped monitor and hard drive, all in one unit, in a futuristic translucent turquoise casing. With its one button internet access, this machine was designed specifically for cruising the internet. The dramatic iMac won rave reviews for design and lured buyers in droves. Apple has engineered a remarkable turnaround. First used in iMAC in 1998, Job said at the launch that “i” meant internet, individual, instruct, inform, inspire. Last year‟s sale soared to a record $ 24 billion, almost triple the sales three years earlier. An analyst says-“apple is smoking, searing, blistering hot, not to mention hip, with a side order of funky....gadgets geeks around the world have crowned apple the keeper of all things cool” In recent years , many companies have managed to thrive along after the departure of their founders- P & G ,HP, IBM. We need to have optimistic outlook towards apple. The co has relied on strings of innovation. It has laid major emphasis on customers as they are the ones who run the business. Jobs have brought a perspective of passionate, non technical customers into the design , look, feel and excitement of the product. Apple differentiates from rest as they apply their talent fiercely in serving the customers and excite them about the product. Moreover, they have the ideology of not inventing too much but to improve the existing, poorly designed product. They had brand equity and skimming pricing strategy.
In recent years , many companies have managed to thrive along after the departure of their foundersP & G ,HP, IBM. We need to have optimistic outlook towards apple.
Jobs have handpicked his successor- Timothy Cook. He is a small town football fanatic faced the remarkable question of being a successful predecessor of Steve Job‟s. One of the things Cook share with Job‟s is sheer competitiveness. He is not in it for fame or ego or money, he is in to win. He has successfully carried out the operations of the company in Job‟s absence. Major competitors of Apple are SAMSUNG, NOKIA, BENQ,ASUS,NEO,MEIZU. Their scope of grabbing the majority share is high due to the Job‟s resignation. It has opened the door for rival Samsung electronics at a crucial time in the battle for Smartphone supremacy. So the question remains unanswered that whether without its master of design, Apple will face a far greater trial in achieving continued success. Whether the company will face downfalls just like DELL faced after resignation of Micheal Dell. “I have always said, if there ever came a day when I could no longer meet my duties and expectations as Apple‟s CEO, I would be the first one to let you know. And unfortunately that day has come. I hereby resign as CEO of Apple.”
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FAST-TRACK NEWS
THE IBS TIMES -GAURAV MALIK & LISA.T.SAMUEL
Inflation to fall to 6% by March 2012
Goldman Sachs: Global banking and research giant Goldman Sachs has said India's headline inflation will fall to 6% by March 2012 due to weakening of demand. "Demand continues to weaken and core inflation, as measured by the non-food manufacturing inflation, is trending lower in sequential terms. We believe this fall in inflation is observed to stay. Going forward, we expect year-on-year headline inflation to slow to 6% by March 2012," Goldman Sachs Global Economics, Commodities and Strategy Research said.
India's forex reserves jump by $1.61 billion India's foreign exchange (forex) reserves rose by $1.61 billion to $318.22 billion for the week ended Aug 19 as compared to $316.60 billion in the previous week. The forex reserves rose for the first time in the last three weeks. The forex reserves had dropped by $621 million and $1.86 billion respectively during the previous two weeks after surging to an all-time high of $319.08 billion recorded during the week ended July 29. Anna Hazare ends fast on Day 13 Anna Hazare ended his 12-day fast on Sunday morning after parliament broadly agreed to three key demands of his civil society group to battle corruption. Clad in his trademark white dhoti-kurta and Gandhi cap, Hazare came to the stage at 9:30 AM from his tent and waved to the crowds and chanted 'Bharat Mata ki Jai', 'Vande Mataram' and 'Inquilab Zindabad'. The country as well the government of Prime Minister Manmohan Singh in particular, heaved a collective sigh of relief at the resolution of a major national crisis as the 74-year-old Gandhian campaigner sipped a glass of coconut water with honey offered to him by a child. AAI losing revenue due to JV Delhi International Airport Private Limited (DIAL) is not giving the Airports Authority of India (AAI) its full share of revenue from the operations at Indira Gandhi International Airport, according to the latest report of the Comptroller and Auditor General of India (CAG) tabled in Parliament on Thursday. The CAG has pointed out that DIAL was to pay AAI an annual fee of 45.99 per cent of the gross revenue earned from the airport. However, DIAL has formed 11 joint ventures (JVs) to run non operations and its agreement with these JVs provided for 10 per cent to 61 per cent sharing of gross revenue on the contracted out services. This has resulted in a substantial reduction in the revenue share of AAI.
Steve Jobs steps down as the CEO of Apple Apple's destiny has been closely tied to Jobs, the short-tempered and charismatic leader who rescued the computer maker from near death in 1996 after a 12-year absence from the company he co-founded. One of the most admired CEOs, Jobs takes home a $1 salary. However, he owns some 5.5 million shares in the company, which are worth some $1.8 billion. But now due to medical reasons he has to leave the company. "Most mere mortals cannot understand a person like Steve Jobs," Guy Kawasaki, a former Apple employee.
Market capitalisation of top-7 companies falls; ONGC becomes most valued firm The combined market capitalisation of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week; while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries. ONGC m-cap surged Rs 1,924.98 crore to Rs 2, 37,842.34 crore on Friday on the Bombay Stock Exchange (BSE), replacing Mukesh Ambani led RIL as the most valued company in India. The combined market capitalisation (m-cap) of seven of the country's top-10 firms declined by Rs 49,487.59 crore last week; while state-owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries.
Money Laundering–Money laundering means disguising illegal sources of money so that it looks like it came from legal sources. These are the methods by which money may be laundered and varied and can range in sophistication.
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THE IBS TIMES GVK Becomes the largest shareholder, gets a holding of 43% in BIAL Hyderabad –based GVK Power and Infrastructure will become the largest shareholder in Bangalore International (BIAL) after agreeing to pay a premium in different market conditions to acquire 14% stake held by German giant Siemens .The deal values BIAL board at Rs 4384 crore, an 8.6% premium over the price of Rs 105 per share that GVK paid in 2009 to L&T and Zurich Airport for acquiring their stakes. This time GVK‟s per share price is 114 while it had earlier paid Rs 105 in 2009 but this buy would also give GVK additional seats on-board.
Chung Mong-koo the chairman of Hyundai gives USD 462 million to charity Korean auto giant Hyundai Motor on Sunday said its chairman Chung Mong-koo has donated USD 462 million to charity as part of a pledge he made in 2006 while being investigated for corruption and breach of trust. The donation of 500 billion won (USD 462 million) to Hyundai Glovis, the foundation set up in 2007 by Hyundai Automotive Group, is the biggest-ever charitable contribution made by an individual in South Korea. Chung, 73, was given a three-year suspended jail term in 2006 after he was convicted of breach of trust and embezzling more than USD 100 million in company funds to raise slush funds.
Al-Qaida's No. 2 killed in Pakistan Atiyah Abd al-Rahman, has been killed in Pakistan, delivering another big blow to a terrorist group that the U.S. believes to be on the verge of defeat, US officials said on Saturday. The Libyan national had been the network's operational leader before rising to al-Qaida's No. 2 spot after the US killed al-Qaida leader Osama bin Laden during a raid on his Pakistan compound in May.
Hurricane Erene menaces US A weakening but still dangerous Hurricane Irene shut down New York and menaced other cities more accustomed to snowstorms than tropical storms as it steamed up the East Coast on Saturday, unloading a foot of rain on North Carolina and Virginia and knocking out power to more than 1.5 million homes and businesses. At least five people were killed
Leslie and Gurbax demand joint Bharat Ratna for Dhyanchand and Tendulkar Former Olympians Leslie Claudius and Gurbax Singh feel the legendary Dhyanchand did not get his due in India and demanded a joint Bharat Ratna for the Hockey wizard, along with champion cricketer Sachin Tendulkar, on his 106th birth anniversary. "It is true that Dhyanchand did not get his dues in the country but that's how Hockey administration is in India. It is regretful," Leslie Claudius, who is a three-time Olympic gold medalist (London 1948, Helsinki 1952 and Melbourne 1956), said. The debate seems to be happening now as who should get Bharat Ratna first –the legendary hockey player or the little master.
Blakes is the new 100m sprinter king after bolt gets disqualified Jamaica's Yohan Blake won the world championships 100m final on Sunday after red hot favourite and defending champion Usain Bolt sensationally false started. Bolt, running in lane five, went early, stunning a hugely expectant crowd in Daegu who looked on shocked as the distraught superstar ripped off his shirt and held his head in disbelief before leaving the track. But Blake held his nerve for the restart and powered to victory, setting his season's best time of 9.92sec with American Walter Dix second (10.08) and veteran Kim Collins of St Kitts winning silver and Nevis winning bronze (10.09).
Debt Syndication- Debt syndication is the process of distributing the money advanced in, generally a large loan, to a number of companies or investors. It is common to use debt syndication when the loan required, in order funding a company or save a company from bankruptcy, is several million US dollars (USD).
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THE IBS TIMES
OPINION FORUM– POLITICALLY INCORRECT
-SWATI VERMA
While the entire nation is engulfed in the spirit of Anna Hazare, some people have considered bringing a rather important issue in the limelight; the deletion of pictures of a Sun and a Solar Eclipse. Wonder why it‟s that important an issue? AIADMK, the ruling party in the state of Tamil Nadu, feels that it represents the electoral symbol of the DMK, their nemesis, and so it removal is a must.
Take for example the case of Tamil Nadu.The state has faced an extreme shortage of basic housing facilities & sanitation especially in slum areas.
This is a classic example of how our politicians waste the vital resources like time and most importantly government funds on trivial issues, which require almost no attention at all! The country is in a desperate need of just governance. The priority of all governments need to be the people who are living in the grotesque of situations and need the most of the resources these political parties splurge without thinking. This has not been a lone case of setting wrong priorities, by the government. Let‟s spare a moment to look at the recent name altering idea proposed by Mamta Banerjee after an all party meet, aimed at renaming West Bengal as Paschimbanga. When the state is crumbling under a huge pressure of conditions of extreme penury in some parts , coupled with lack of availability of basic necessities like housing , food, education; the need to devote the government‟s valuable time on such petty issues ,is beyond my comprehension. Another incident that happened in the recent past in Mahrashtra, which entailed forcefully sending out North Indian workers especially from Uttar Pradesh, was a similar case. Though the initiation was carried out by the Shiv Sena, the other political parties, the Samajwadi Party in particular, did not deter themselves from taking advantage of any political mileage that they could reap from this sad incident. For days together the news channels, on one hand, covered the atrocities committed on the poor workers and, on the other, the continuous commenting and mudslinging carried out by the rival political parties. All this hugely affected the economy of the state of Maharshtra as a huge labour shortage was reported affecting industry production. Analysts estimated a loss of Rs.500 crores - Rs.700 crores.
Let’s spare a moment to look at the recent name altering idea proposed by Mamta Banerjee after an all party meet, aimed at renaming West Bengal as Paschimbanga.
The political parties need to understand the importance of setting the right priorities for themselves. Take for example the case of Tamil Nadu.The state has faced an extreme shortage of basic housing facilities & sanitation especially in slum areas. A survey conducted recently, brought to light the sorry fact that, on an average only 1 out of 10 government schools has safe drinking water. The state is basically an agrarian state with huge dependence on monsoons to reap a good yield, which sometimes turns erratic, causing a huge loss to the farmers and in turn leading to a rise in inflation rates across the country. The upsurge of news relating to the atrocities committed against the Dalit sections in Tamil Nadu is also a serious concern which needs to be taken up with full dedication to fulfill the „Inclusive Growth‟ objective of the government. These are just some of the issues that the government could focus its immediate attention on instead of whiling away essential resources on non-issues. Thus, it is high time now that these political parties act in the way they promised to, in their election campaigns. They need to rise above the insignificant issues that crop up every now and then and aim to look for the greater good. Once that is achieved across the nation, there is no stopping for us. Period.
Commodity Trading- Commodities trading are a sophisticated form of investing. It is similar to stock trading but instead of buying and selling shares of companies, an investor buys and sells commodities.
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THE IBS TIMES
BRAND TRACK— LAMBORGHINI: RAGING ON!
-ANKIT SHARMA
Founded in 1963, Automobili Lamborghini S.p.A. commonly referred to as Lamborghini, is named after the founder of the company Ferruccio Lamborghini (1916-1993). Ferruccio Lamborghini was a successful tractor manufacturer before he got interested in sports cars. His interest in sports cars made him buy many different high-performance cars including both Maseratis and Ferraris, but he was never really happy with any of them and therefore decided to build his own, perfect sports car and from then on the legacy of the lamborghini started. The Lamborghini crest, with raging bull also has some history of its own. In 1962, Ferruccio The Lamborghini crest, with raging bull also has some history of its own.
Lamborghini visited the Seville ranch of Don Eduardo Miura, a renowned breeder of Spanish fighting bulls. Lamborghini, a Taurus himself, was so impressed by the majestic Miura animals that he decided to adopt a raging bull as the emblem for the automaker he would open shortly. Another great feature of the Lamborghini is its scissor doors. Opening upwards, the scissor doors gave the car a new identity. Several of the newer Lamborghini models feature the familiar Lamborghini scissor doors that rotate up and forward on a hinge near the front of the door. The Countach, the Diablo and the Murcielago all have scissor doors, but the Gallardo does not. Both the Countach and the Diablo are no longer being produced, so the Murcielago is the only current model with scissor doors. A little known fact about Lamborghini is that every Lamborghini Car is handmade and hand painted and thus no two Lamborghinis can be the same, there will always be a slight difference in the colour of each Lamborghini. Lamborghini is structured as part of the Lamborghini Group, consisting of Audi-owned holding company Lamborghini Holding S.p.A., which controls three separate companies: Automobili Lamborghini S.p.A., manufacturer of cars; Motori Marini Lamborghini
A little known fact about Lamborghini is that every Lamborghini Car is handmade and hand painted and thus no two Lamborghinis can be the same.
S.p.A., maker of marine engines; and Lamborghini ArtiMarca S.p.A., the licensing and merchandising company. The group additionally contains Volkswagen Group Italia S.p.A. and Volkswagen Group Firenze S.p.A. In May 2010, the Italian coachbuilder Italdesign Giugiaro came under the control of Lamborghini Holding, as the Volkswagen Group purchased 90.1% of the company's shares from the Giugiaro family. The most important markets for Automobili Lamborghini's sports cars are the U.S. (41%), Germany (13%), Great Britain (9%), and Japan (8%). The company which has its headquarters in Italy produces around 400 cars per year. The CEO of the company, Stephen Winkelman and Wolfgang Egger who is the head of design have plans on pondering even more expansion in China by achieving 230-unit sales target in 2011.
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THE IBS TIMES
QUICK BITES- NEWS THAT CAN’T BE MISSED !
- KISLAY KUMAR
Big Shots… Footwear and accessories maker Bata India appointed Mr. Rajeev Gopalakrishnan as the company‟s new Managing Director. US private equity major Kohlberg Kravis Roberts & Co has hired Mr. D.S. Brar, a former Director of the RBI, as a Senior Advisor in India. According to Pranab Mukerjee, India can be a safe haven for global capital industry.
Company Talks… RIL (Reliance Industries Limited) overtakes ONGC as most valued company. Maruti Suzuki to launch 20 models in the coming five years. Samsung delays galaxy tablet launch in Australia. Reserve Bank of India panel proposes tough regulatory norms for NBFC. Infrastructure Development Finance Company (IDFC) is looking to raise 1 billion rupees through 1 year 1 day bonds at 9.60 percent. US based Du Pont today announced the opening of its “India innovation centre” in Pune. Larson & Turbo to unveil new management structure in April.
Economy Speaks… Government is keen in providing customers petroleum products at reasonable prices. Prices of essential commodities like edible oil, some vegetables and rice rose in the market. International monetary fund chief accused of misguided attack on health of banks. Indian leather export will touch 5.4 billion dollar by 2014 from the current level of 3,8 billion dollar. According to the Bureau of energy efficiency, The 12th 5 year plan is likely to lay special focus on energy efficiency targeting reduction of 12000 mw. FCI needs Rs 85,359 cr to pay for food grain procurement, dues Inflation based on the consumer price index (CPI) for industrial workers rose 8.43 per cent in July, marginally lower than June's annual rise of 8.62 per cent .
The Captains of the Ships.. Indian Social Activists :- Anna Hazare, Mr. Kejriwal Reserve bank of India Chief:- D. Subbarao Fed Chairman:- Ben Bernanke Chairman and Managing Director, Royal Orchid Hotels Ltd :- Chender Baljee
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THE IBS TIMES
FOCUS OF THE WEEK– GOLD EXCHANGE TRADED FUNDS
- AVINASH ROY
As Martin Luther King, Jr. says, “The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy” , and Chambers braved the uncertain tornadoes efficiently at the most crucial of hours‟.
The value of gold has transcended all nations, political
and
cultural
borders, making it an ideal currency.
What makes this attractive to most buyers is the fact that trading in gold can be done very easily at anytime
during
stock
market hours using online brokerage account.
Though to be one of the first known metals; gold has been coveted throughout history for its beauty, scarcity, malleability and uncanny resistance to rust and corrosion. Centuries ago, gold‟s unique combination of properties- its sun like color, its soft hardness, its imperviousness to decay and corruption- imbued it with magical associations in the eyes of many. Because of these unique properties, gold has traditionally been the currency of choice for much of world‟s population. The value of gold has transcended all nations, political and cultural borders, making it an ideal currency. Investing in gold or other precious metals is very popular these days, but precious metals investments require special attention to the logistics of the purchase (insurance, storage and reselling). Gold ETF funds provide a method for investing in gold that eliminates all these issues. Gold was made available at the stock exchange just like an equity share to the investors through a World Gold Council initiated ETF Products called Gold Bullion Securities. Each share of Gold Bullion Securities (GBS) is equal to 1/10th of an ounce of gold and is supported by physical holding of gold in custody of HSBS. This was the first time that a metal has been listed on an international stock exchange and that it can be conveniently traded or invested by institutional investors as well as individuals. ETF means Exchange Traded Funds. NYSE, NASDAQ and AMEX have ETFs. When we buy an ETF, we are typically investing in a conglomerate of companies rather than a single corporation. The Gold ETF Fund will purchase a large amount of gold, maintaining the physical metal in storage. They will then issue shares in baskets, the idea being the value of share will increase with the price of gold bullion. If price goes up by 10%, individual shares would increase in value by 10%. What makes this attractive to most buyers is the fact that trading in gold can be done very easily at anytime during stock market hours using online brokerage account. Another thing people like is you do not have to buy a large amount of gold to invest. Most Gold ETF Funds have a minimum investment but you can buy in portions of an ounce. This is really ideal since the price of an ounce of gold these days is not something everyone can afford to purchase. Some of the popular venues for buying gold or gold mining companies include SPDR Gold Trust (GLD), Market Vectors Gold Miners ETF (GDX) and Proshare Ultra gold (UGL). When looking to international market for gold ETF, India would often be the first on the list. It is because India has probably the largest fascination with gold than any other country in the world and is by far the world‟s largest buyer of gold, accounting for 9.5% of world‟s total gold holdings. Current demand from India alone constitutes 25% of world‟s annual gold output. We have nowadays started buying gold as a hedge of protection from our own rupee currency and government mismanagement, in addition to the image of gold as symbol of power and wealth. India currently offers 6 Gold ETFs and all of which are traded on NSE. Owing to features of gold investment like no credit risk, transparent pricing, deep and liquid market and greater diversity than pure financial assets, despite of current uncertain global market, the recent run up in the prices of gold has enabled Gold ETFs to nearly match the performance achieved in the aftermath of the financial crisis. Gold ETFs have gained over 32% so far in 2011 (till Aug 24). They jumped by about 34% between Sept 2008 and March 2009 when risk averse investors bought more gold units amid plunging economic conditions. ETFs have emerged as best performers gaining 28% since Jan 2008. In contrast, best performing equity mutual fund (excluding sector oriented funds) moved up by just 7.4%. But along with these benefits that Gold ETF has, the risk factor is still there which runs side by side. So the ultimate decision still vests on the investors to either go for the stable and more secure gold ETFs or stick with the traditional equity mutual funds and other asset classes.
Current Maturity- The interval between the present date and the maturity date of a bond. The current maturity tells how long the bond has left until it matures, and it is an important metric for determining a bond's valuation. The longer the time until maturity, the more interest payments that can be expected .
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THE IBS TIMES
NEWS @ IBS– ALL HAPPENINGS IN IBS HYDERABAD!
- POOJA DALAL
A working Saturday, written analysis of the case to be done and many quizzes lined up in the week made the week even more hectic, but as expected IBSites did not miss on their extracurricular efforts. The week came to an end amidst much fervour and enthusiasm as three clubs conducted events in their own niche areas and brought that variety –the spice of life at IBS. Some were aimed at enhancing knowledge of participants whereas others served as a refresher for the deserving „hardworking‟ lot of students.
STOCKYARD– SNIKERS
A strategic game by stockyard was carefully grafted for testing participants on various parameters such as business related general knowledge, strategic thinking and strategy forming capabilities. Masters of ceremony, Varun Bansal and Sameer Janjhi, took the participating teams through this brain racking activity, with various rounds lined up. To do this, participants were quizzed on business tycoons, companies etc. Next the teams had to go for an open bidding of 5 projects with the „Yards‟ they had earned in the first round. Those teams getting projects then calculated and submitted their supply and prices and became market competitors. In the end (after demand and supply gaps and profits earned by teams) the team comprising of Varun Sha, Rohit Jalan and Vivek Sadaka won the game with the highest net worth.
EXPRESSIONZZ– JAB WE MET
After a hectic week at college, Expressionzz brought, for the weary audience of IBS, the much required stress busting play „Jab we met‟. It was a blend of emotions and comedy, so blended to perfection that the audience was carried away to another world where things like stress and tensions exist but are alleviated in the most artistic of styles. The super perfect theatre capabilities of the actors and the fabulous script made the play all the more enjoyable and refreshing. Thus the play not only ended with meeting its objective of entertaining its audience, it also conveyed a message, as do all the plays by the club.
MAVERICK- MERCADEO FIEBRE
Maverick conducted its marketing game on Saturday (27th Aug 2011). Being the first game by club juniors this year, the event met its object of earning the support of audience, and entertaining them. The participating teams had to guess the brand and product whose ad videos were shown. The qualifying teams were then required to identify products from the hints given and guess their prices (round 2). Only 5 teams proceeded to round 3 where each team decided upon its luck and turned the wheel of fortune to select an industry on which a company name had to be guessed with 3 hints. The teams that successfully qualified this round proceeded to the finale, where teams had to make an advertisement on a given situation and enact it. The best advertisement won the final competition and the second best became the runner-up.
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THE IBS TIMES MARKET WATCH
- AVLEEN KAUR SARNA
With the outlook for equities turning grimmer as Europe‟s troubled banking system threatens to implode and the US economy stares at the possibility of another recession, the Indian markets declined 2% this week to 19- month lows as selling continued by foreign institutional investors. What added to the woes was inflation rising to 9.8% for the week ending August 13, 2011. This All the sectoral indices ended in negative zone. The loser‟s list was led by rate sensitives. The BSE metal index dropped by 5.2% to Rs 11,145. The Bankex and Realty index fell by 4-5% each. However, BSE IT index managed to outperform the benchmark index as it ended with a marginal loss of 0.3% at 4,719.
The Movers & Shakers of the Week
SURGES
%Change
DOWNFALLS
%Change
GTL INFRA
11.6
JET AIRWAYS
-13.6
STERLING BIOTECH
11.1
VOLTAS
-13.2
GUJ MINERAL DEV.
9.7
RELIANCE CAPITAL
-11.5
The combined market capitalization (m-cap) of seven of the country‟s top-10 firms declined by Rs 49487.59cr while state owned ONGC grabbing the top slot as the most valued firm toppling Reliance Industries. The news from corporate side includes BHEL‟s plans to increase its networth of Rs. 238 bn to bag the coveted Maharatna status. This will enable the company to take independent decisions up to Rs. 50 bn from the current limit of Rs. 10 bn. NASSCOM came out with the report that said that the sector is expected to grow at 16-18% in the current fiscal as the players are planning to expand their operations to new sectors and new geographies. This will contribute to the growth inspite of the slowdown in US and Europe.
Global Cues: The global markets finally found a week to cheer about. Ben Bernanke said that the US economy has not recovered from the recession in the expected manner but the long term health of the economy is intact. Adding to this the fact that he remained silent on the development of QEIII cheered the markets across the globe. All the major markets of the world ended the week in green expect for India (lost 1.8%). .
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THE IBS TIMES MARKET WATCH 22 AUGUST 2011
23 AUGUST 2011
24 AUGUST 2011
25 AUGUST 2011
26 AUGUST 2011
Sensex
16341.7
16498.47
16284.98
16146.33
15848.83
Nifty
4898.8
4948.9
4888.9
4839.6
4747.8
DJIA
10854.65
11176.76
11320.71
11149.82
11284.54
HangSeng
5095.30
5129.42
5205.85
5205.85
5129.92
FTSE100
19486.47
19875.53
19466.79
19466.79
19582.88
Gold ($/oz.)
1898.10
1830.10
1751.30
1751.30
1829.10
Crude($/bl)
103.84
105.94
106.53
106.53
-
INR v/s USD
46.5080
45.9990
45.8244
45.8244
46.2255
INR v/s EURO
66.9696
66.1700
66.0417
66.0417
66.6016
Option Industry Council- A cooperative formed in 1992 by U.S. options exchanges and Options Clearing Corporation (OCC) to educate investors and financial advisers regarding the benefits and risks of exchange-traded equity options. The Options Industry Council (OIC) serves as the industry resource for equity options education, and it is sponsored by a variety of corporations. including BATS Options, the Boston Options Exchange and other important stock exchanges. BUSINESS JARGONS BY– GAURAV MALLIK
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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 TEAMANKIT SHARMA, AVINASH ROY, AVLEEN KAUR, GAURAV MALIK, KISLAY KUMAR, KRITIKA SETHI, LISA.T.SAMUEL, POOJA DALAL, SWATI VERMA.
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