Let’s count the events of the day

 

1. Emami to revive over-the-counter products like Zandu Pancharishta, Nityam Churna

Consumer products maker Emami is reviving its over-the-counter healthcare business with a slew of brand relaunches along with new distribution system, packaging and marketing blitz."The focus on the OTC portfolio is part of a consolidation exercise we have undertaken to increase sales from existing brands, instead of randomly entering into newer categories," Emami Ltd CEO (Sales, Supply Chain and Human Capital) Krishna Mohan said.The brands being relaunched include digestive tonic Zandu Pancharishta, blood and skin purifier Zandu Lalima, laxative Nityam Churna, cough tonic Sardi Ja and even popular pain reliever Zandu Balm-some of its own and some acquired from Zandu’.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/emami-to-revive-over-the-counter-products-like-zandu-pancharishta-nityam-churna/articleshow/12589273.cms

 

2. Accor bets big on India, plans 75 hotels in 3 years

 

When he came visiting India last year, Denis Hannequin, the chairman and chief executive of Paris-based hotel group Accor, wasn't impressed with his company's performance in India. "Just eight hotels in a decade... I was not happy with the development of the Accor brand in India," he says.Last week, Hannequin, a former McDonald's chief executive, returned to India with an aggressive plan that will help Accor add around 75 hotels in the country in three years, taking the number of properties from the current 15 to 90, and making India one of its key markets.

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/accor-bets-big-on-india-plans-75-hotels-in-3-years/articleshow/12588431.cms

 

3. Social venture fund Aavishkaar invests 26 crore in two companies

 

Karadi Path Education Co will receive 8 crore to expand its English language learning operations focussed on primary school students particularly in semi-urban and rural areas.Separately, Aavishkaar has also invested 18 crore in bio-mass company Vana Vidyut which is expected to set up India's first grid-connected bio-mass power plant with captive bio-mass feed stock from dedicated energy plantations.Aavishkaar, a rural and semi-urban-focussed venture fund raised capital which closed a first tranche of $70 million last year, has raised money from a set of marquee investors including International Finance Corporation, Cisco and CDC.

http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/social-venture-fund-aavishkaar-invests-26-crore-in-two-companies/articleshow/12590335.cms

 

Worth Reading:

http://www.bloomberg.com/news/2012-04-09/ceos-praising-diversity-stay-silent-on-no-women-augusta.html

Let’s count the events of the day

 

 

1. Ashton Kutcher To Play Steve Jobs In Upcoming Biopic

Ashton Kutcher is playing Steve Jobs. According to the AP, Kutcher's publicist has confirmed that the "Two and a Half Men" star will play the late Apple co-founder in the indie film "Jobs."According to Variety, which first broke the news on Sunday, the movie will follow Jobs on the journey that took him from "wayward hippie" to Apple co-founder. The movie is scheduled to begin production in May while Kutcher is on hiatus from "Two and a Half Men."

http://www.huffingtonpost.com/2012/04/03/ashton-kutcher-steve-jobs_n_1400093.html

2. Aberdeen Asset Management seeks $150 million in damages from Satyam

A group of investors led by Scottish investment house Aberdeen Asset Management have claimed damages from Mahindra Satyam in connection with losses they allegedly suffered on account of the 2009 fraud perpetrated by erstwhile Satyam promoter.The investors claim losses in excess of $150 million and interest at the rate of 8%, Satyam informed Indian stock exchanges on Saturday. The claim notice relates to legal action initiated Aberdeen Global and others before the High Court of Justice, Queen's Bench Division, Commercial Court in the UK.

http://economictimes.indiatimes.com/tech/ites/aberdeen-asset-management-seeks-150-million-in-damages-from-satyam/articleshow/12570066.cms

 

 

 

 

Worth reading:

Tata Motors at the 2012 DefExpo: Model Showcase!

http://economictimes.indiatimes.com/tata-motors-at-the-2012-defexpo-model-showcase/articleshowpics/12530098.cms

Renault Sherpa Light military truck displayed at 2012 Defexpo

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/Renault-Sherpa-Light-military-truck-displayed-at-2012-Defexpo/articleshow/12569945.cms

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/purnendu-chatterjee-the-billionaire-who-lost-in-west-bengal/articleshow/12484506.cms

http://www.businessweek.com/slideshows/2012-04-02/playing-office-actors-as-business-leaders#slide11

The events of the day

 

1. IPL 2012: Kings XI Punjab rope in Videocon d2h, OCM as sponsors

Kings XI Punjab have roped in Videocon d2h and OCM as sponsors for the fifth season of the Indian Premier League (IPL), it was announced Wednesday.Videocon d2h will be the title sponsor and its logo will adorn the Kings XI Punjab team jersey.

http://economictimes.indiatimes.com/news/news-by-industry/media/entertainment-/entertainment/ipl-2012-kings-xi-punjab-rope-in-videocon-d2h-ocm-as-sponsors/articleshow/12533121.cms

 

2. Bajaj Auto raises stake in KTM Power Sports to 47%; has been consistently increasing stake

Bajaj Auto, India's second-largest two-wheeler maker, has tightened its hold on KTM Power Sports by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/bajaj-auto-raises-stake-in-ktm-power-sports-to-47-has-been-consistently-increasing-stake/articleshow/12526404.cms

From Wikipedia: KTM Sportmotorcycle AG is an Austrian motorcycle, bicycle and moped manufacturer. The company was founded in 1934 by engineer Hans Trunkenpolz  in Mattighofen. It started out as a metal working shop and was named Kraftfahrzeuge Trunkenpolz Mattighofen. In 1954 KTM began producing motorcycles.KTM is most commonly known for its off road motorcycles though in recent years it has expanded into street motorcycle production.

 

3. Tata Power launches joint venture firm Cennergi with Exxaro Resources

Tata Power, along with South Africa's Exxaro Resources today launched their joint venture Cennergi (Pty) Ltd, that would focus on developing electricity generation projects in the African continent.Cennergi also marks a major overseas foray for Tata Power, India's largest private power generator.

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/tata-power-launches-joint-venture-firm-cennergi-with-exxaro-resources/articleshow/12535009.cms

4. Canon ropes in Anushka Sharma; eyes Rs 2,300 crore sales this year

http://economictimes.indiatimes.com/tech/hardware/canon-ropes-in-anushka-sharma-eyes-rs-2300-crore-sales-this-year/articleshow/12532166.cms

 

Worth watching:

 http://www.youtube.com/watch?v=9c6W4CCU9M4

 

Worth Reading:

 http://www.bloomberg.com/news/2012-03-28/golf-s-masters-facing-male-only-dilemma-with-new-ibm-ceo.html

http://www.financialexpress.com/fe_express_gallery.php?id=161

The events of the day..

1. Madhu Kannan, the youngest CEO of Asia's oldest bourse, is leaving Bombay Stock Exchange operator BSE Ltd to join Tata Sons, which controls India's largest corporate house, where he will report to the executive in line to become group chairman at the end of this year.

He joins a youth movement at Tata, where Cyrus Mistry, 43, is due to become chairman when Ratan Tata retires at the end of this year. Tata Sons, which controls the salt-to-software Tata Group, said Kannan will be group head of business development, reporting to Mistry, who is now deputy chairman.

The BSE's non-executive chairman, S. Ramadorai, is vice chairman of TCS, India's largest software services exporter.

http://www.reuters.com/article/2012/04/03/india-tatas-idUSL3E8F37A120120403
2. U2 stars Bono and the Edge invest millions in internet storage company Dropbox

The U2 stars Bono and the Edge are gambling on their biggest hit yet after investing millions of dollars in an internet storage company which is tipped to become the next Apple.

Alongside his reputation as a global philanthropist, Bono has become a shrewd investor in web technology companies through Elevation Partners, a $1.9 billion private equity fund which he co-founded in 2004.

A $270 million investment in Facebook, buying shares from employees between 2009 and 2010, has already paid dividends. The stake is valued at $1 billion ahead of the social network’s Initial Public Offering this year.

A $100 million stake in Yelp, a consumer business review website, has tripled in value after the company went public last month.

Elevation has also suffered failures. A $117 million stake in SDI Media, a dubbing and subtitle company, went south after it was taken over by debtors and a $325 million investment in smartphone maker Palm, produced a modest $25 million gain.

Bono and Edge were introduced to Dropbox by entrepreneurs Ali and Hadi Partovi, who were investors in the company. The Partovi brothers created a Facebook music video-sharing app, iLike, which Bono endorsed by giving an interview.

Dropbox, described by Forbes magazine as “tech’s hottest start-up”, offers its storage service for free but is marketing a $20 a month upgrade for heavy users requiring 100Gb of storage. Each day 325 million files are saved through Dropbox.

http://www.independent.co.uk/arts-entertainment/music/news/u2-stars-bono-and-the-edge-invest-millions-in-internet-storage-company-dropbox-7615216.html

3. TAFE plans to invest Rs.100 crore on capacity expansion at Madurai

The flagship company of the Amalgamations Group, the over Rs.8,000-crore TAFE, would invest around Rs.100 crore in a project at Madurai where it already has another plant.

Addressing a press conference here on Tuesday, Mallika Srinivasan, Chairman and CEO, said the proposed facility would make high horse power tractors and aim at global customers. It would have a capacity of 60,000 tractors a year. The project would go on stream in the middle of next year, she added.

http://www.thehindu.com/business/article3277656.ece


4.  No merit in class action suit: TCS


Tata Consultancy Services, Asia’s largest software services exporter, said the class action suit brought against it by two former employees — Gopi Vedachalam and Kangana Beri — is without any merit. The US tax refund cheques that the company has collected are not unjust, TCS added. The US district court judge, Claudia Wilken, issued an order on Monday granting a motion for bringing a class action suit against TCS and its parent Tata Sons, on behalf of Indian workers sent to the US to work on IT jobs from February 14, 2002 through June 30, 2005.


http://www.mydigitalfc.com/it/no-merit-class-action-suit-tcs-722




5. Micromax unveils tablet PC 'FunBook' at Rs 6,499, based on Ice Cream Sandwich OS


http://economictimes.indiatimes.com/tech/hardware/micromax-unveils-tablet-pc-funbook-at-rs-6499-based-on-ice-cream-sandwich-os/articleshow/12519343.cms




6. Babus dash MBA sarpanch Chhavi Rajawat's plan to transform villages

The same month last year she spoke at the UN about transforming rural India by ensuring basic facilities like drinking water, electricity, toilets, schools and jobs for the villagers through panchayats.The youngest and MBA graduate sarpanch of Rajasthan, Chhavi Rajawat on Saturday said the panchayats should be closed down. The reason: petty government officers were not allowing the elected representatives to work. Public utility works were being "deliberately and maliciously" held up in government procedures by 'biased' officers. The rural police, too, were being controlled by such officers."Our panchayats are a farce and should be shut down. If an educated sarpanch, especially a woman, can be harassed by these officers then imagine what difficulty an uneducated woman sarpanch or any other sarpanch would be facing," Rajawat, the Tonk district's Soda gram panchayat sarpanch, said at a press conference in the city.Rajawat gained international recognition when, despite being an MBA graduate having better prospects in the corporate sector, she chose to contest and won the sarpanch election in her village panchayat in 2010. In March 2011, she was invited to speak at the 11th Info-Poverty World Conference at the UN. She was recently named among the young global leaders announced by the World Economic Forum.


http://economictimes.indiatimes.com/news/politics/nation/Babus-dash-MBA-sarpanchs-plans-to-transform-villages/articleshow/12514454.cms








Worth Reading:


http://www.bloomberg.com/news/2012-04-03/dutch-boy-seeks-economy-prize-with-greek-euro-exit-plan.html


http://www.bloomberg.com/news/2012-04-02/arabica-premium-seen-higher-on-robusta-supply-surge-commodities.html (Starbucks and Nestle)


http://www.bloomberg.com/news/2012-04-02/tata-wage-suit-in-california-wins-class-action-certification-1-.html


http://news.cnet.com/8301-1035_3-57408672-94/instagram-for-android-is-now-available/

Wash Trading: Entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been made, without resulting in a change in the trader's market position.

Let’s Count the Events of the Day

 

1. Tech Mahindra-Mahindra Satyam merger: Exchange ratio of 2:17 positive for Tech M, say analysts.

Shares of Tech Mahindra rallied on Wednesday after its board approved merger with Mahindra Satyam to create the fifth largest software services exporter by market value.

http://economictimes.indiatimes.com/markets/analysis/tech-mahindra-mahindra-satyam-merger-exchange-ratio-of-217-positive-for-tech-m-say-analysts/articleshow/12352802.cms

 

2. Low-cost car to be sold under Datsun brand in India: Nissan

 

Nissan Motor Co said on Wednesday that the new low-cost car it has planned for India will be sold under the firm's revived Datsun branding.CEO Carlos Ghosn made the comment at a briefing in Yokohama, near Tokyo.

http://economictimes.indiatimes.com/news/international-business/low-cost-car-to-be-sold-under-datsun-brand-in-india-nissan/articleshow/12351660.cms

 

Bloomberg Reports:

“Maruti Suzuki, India’s biggest automaker, derives the majority of its sales from the mini-car segment that includes cars with 1 liter engines and less than 3.6 meters long. The New-Delhi based unit of Suzuki Motor Corp. (7269) offers its best- selling Alto model from 240,352 rupees. In October, Hyundai Motor Co. (005380) added its cheapest model, the Eon, priced from 269,999 rupees, to compete with Maruti in this segment.Compacts and mini-cars accounted for more than 75 percent of total passenger-car sales in the nation in the eleven months ended February, according to data released by the Society of Indian Automobile Manufacturers. Maruti had 42 percent of the total Indian passenger-car market while Hyundai had 19 percent and Nissan 1.5 percent, according to data from the group.”

http://www.bloomberg.com/news/2012-03-20/nissan-to-revive-datsun-brand-after-three-decades-to-boost-sales.html

 

 

3. Reliance Foundation launches Braille newspaper with Real Hero Swagat Thorat

The Hindi Braille newspaper was launched at Kamala Mehta School for the blind. It is called ‘Dhrishti’

Lets Count The Events of the Day

 

1, Apple Inc. (AAPL) will pay its first dividend in 17 years and buy back $10 billion in stock, heeding investors who urged it to return part of the $97.6 billion in cash amassed by robust demand for iPhones and iPads.

http://www.bloomberg.com/news/2012-03-19/apple-to-pay-dividend-buy-back-stock-to-return-some-of-its-cash.html

2. Starbucks goes natural, opens first Evolution Fresh juice store

Starbucks Coffee Co.’s foray into juice is bearing fruit (and vegetables), with its first Evolution Fresh store now open and selling “wholesome products” in Bellevue, Wash.

http://www.latimes.com/business/money/la-fi-mo-starbucks-evolution-fresh-20120319,0,7153835.story

3. Jet Airways discontinues JetLite, merges with JetKonnect

As part of a strategic rebranding and restructuring exercise announced last July, the country's largest airline Jet Airways today said, effective March 25, its low-cost arm JetLite will cease to operate, after being merged with the other no-frills brand JetKonnect.

http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/jet-airways-discontinues-jetlite-merges-with-jetkonnect/articleshow/12330847.cms

4. Unibic sale won't impact India operations: Nikhil Sen, Managing Director, Unibic Biscuits India. last year private equity firmLazard bought into Unibic India by snapping up the shares that were owned by Unibic Australia.Unibic Biscuits India's other investors include Lighthouse Capital besides Sen. The company only pays a nominal royalty to Unibic Australia for use of the brand.

5. Rio Tinto is gearing up to develop India's second diamond mine in Bundelkhand (Chhatarpur, Madhya Pradesh)

6. Kevin Rose, the founder of Digg.com to be hired by Google.

Photographer: David Paul Morris/Bloomberg

19th March 2012

 

 

1. A lawyer for former Goldman Sachs Group Inc. (GS) director Rajat Gupta, accused of passing nonpublic information to Galleon Group LLC fund manager Raj Rajaratnam, said today that the U.S. had the “wrong man” on trial.

http://www.bloomberg.com/news/2012-03-16/gupta-s-lawyer-says-wrong-man-on-trial-in-galleon-insider-case.html

2. Google Inc. (GOOG), the world’s largest Web-search provider, is hiring Kevin Rose, the founder of news- aggregation service Digg Inc., according to a person with knowledge of the matter

http://www.bloomberg.com/news/2012-03-15/google-is-said-to-hire-kevin-rose-entrepreneur-founder-of-digg.html

3.  India, the world’s biggest bullion buyer, increased the tax on gold imports for the second time this year after record purchases widened the current-account deficit. Gold fell.

http://www.bloomberg.com/news/2012-03-16/india-raises-gold-import-tax-for-second-time-prices-drop-1-.html

4. Gunit Chadha now Co-CEO at Deutche Bank  - Close on the heels of Anshu Jain taking over the top job at Deutsche Bank in May, another Indian, Gunit Chadha has been promoted to a global role within the bank. Deutche Bank appointed Chadha as Co-CEO of its Asia pacific business with effect from June 1.

With an economics degree from St. Stephen’s College, Delhi, MBA from IIM-A and an advanced management program from Wharton School, Chadha has been the country head and CEO of Deutsche Bank in India and a member of the bank’s Asia Pacific executive committee since 2003.

http://www.indianexpress.com/news/gunit-chadha-now-coceo-at-deutche-bank/925412/

5. 3.2 per cent of Indian GDP due to Internet, numers of users set to grow: Google (Managing Director and Country Head of Google India Rajan Anandan)

 

6. http://economictimes.indiatimes.com/news/news-by-industry/services/retailing/aditya-birla-group-chairman-kumar-mangalam-birla-to-invest-rs-400-crore-more-in-retail-post-slowdown/articleshow/12321500.cms

 

7. UPS to Purchase TNT Express for $6.8 Billion - United Parcel Service Inc. (UPS) raised its offer for TNT Express NV (TNTE) by 5.6 percent to 5.16 billion euros ($6.8 billion) to secure the biggest deal in the U.S. company’s 105-year history and challenge Deutsche Post AG.

http://www.bloomberg.com/news/2012-03-18/ups-said-to-reach-deal-to-buy-tnt-express-to-grow-in-europe-1-.html