LCTEOTD

 

1. Jubilant FoodWorks opens Dunkin' Donuts first store in India

Jubilant FoodWorks, the Indian distributor of Domino's Pizza, on Tuesday opened American doughnut brand Dunkin' Donuts first store in India, and plans to invest around Rs 12 crore to roll out 10 stores this fiscal."There will be a mix of flagship stores, stores in malls and kiosks," said Jubilant FoodWorks Limited (JFL) CEO Ajay Kaul during the opening of first store at Connaught Place in New Delhi, adding that the restaurants would be branded as 'Dunkin' Donuts & More' in the country.Dunkin' Donuts will compete in India with companies such as Cafe Coffee Day, run by Amalgamated Bean Coffee Trading Co., Lavazza SpA's Barista Coffee Co., and Starbucks Corp., which plans to open its first India store in August through its partnership with Tata Global Beverages.

http://timesofindia.indiatimes.com/business/india-business/Jubilant-FoodWorks-opens-Dunkin-Donuts-first-store-in-India/articleshow/13061819.cms

2. India to Dethrone Thailand, Vietnam as Top Rice Exporter

India, the largest rice grower after China, is poised to rival Vietnam as the world’s biggest shipper, ending Thailand’s 30-year reign, after favorable weather and higher government prices boosted the harvest to a record.Exports may climb to 7 million metric tons in the year ending Aug. 31, said Samarendu Mohanty, a senior economist at the International Rice Research Institute. That’s more than double the 2.8 million tons shipped in 2010-2011, according to the U.S. Department of Agriculture. Vietnam will export 7 million tons and Thailand 6.5 million tons, USDA data show.Rice, the staple for half the world, has slumped 17 percent since reaching the highest price since 2008 in September after India ended a three-year ban on exports of non-basmati varieties. Prices will probably stay under pressure in coming months as global production outpaces demand for an eighth year. That may extend a decline in global food costs, which fell for the first time this year in April, United Nations data show. Thailand was the top shipper last year with 10.6 million tons.

http://www.bloomberg.com/news/2012-05-09/india-set-to-pass-thailand-rival-vietnam-as-top-rice-exporter.html

3. Kishore Chhabria's whiskey brand Officers Choice now No. 1

Kishore Chhabria, a teetotaler, is on a high, virtually. "We've a long way to go in the spirits business. We want to improve our bottom line," says Chhabria, who's sparred in the past with his own brother, the late Manohar Chhabria, and his partner- turned rival Vijay Mallya, and survived.Officers Choice, the whiskey brand he helped create from scratch, has broken the seven-year-old reign of Vijay Mallya's Bagpiper Whiskey, to become the largest selling Indian spirits brand. Global drinks analysts now rank the brand the world's No. 1 by volume. Allied Blenders & Distillers ( ABD), the fledgling spirits company owned by Chhabria, is now changing strategy as it tries to reduce dependence on a single brand - Officers Choice.

On the anvil are a line of new spirit brands, which will reduce dependence on Officer's Choice. Lord & Master Brandy, Jolly Roger Rum and Officer's Choice Blue, a semi premium whisky, will be the new engines to grow the 1,600-crore liquor firm. This year, Officer's Choice Blue will exceed one million cases and the thrust in the coming months will be to grow new brands.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/liquor/kishore-chhabrias-whiskey-brand-officers-choice-now-no-1/articleshow/13002224.cms

Let’s count the events of the day

 

 

1. Hutchison Whampoa Said to Bid EU2 Billion for Eircom

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. (13) made a bid of about 2 billion euros ($2.6 billion) for Eircom Group, the Irish phone company in supervised credit protection, people with knowledge of the matter said.

2. Manchester City Signs Deal With Nike as Team Uniform Supplier

Manchester City, owned by a billionaire member of the Abu Dhabi royal family, signed a six-year agreement with Nike Inc. to have the world’s largest sporting-goods maker supply the soccer team’s uniforms.

 

3. ‘The Scream’ Sells for Record $120 Million at Sotheby’s

Sotheby’s (BID) managed a record price and sale tally at last night’s auction in New York, even as 15 lots went unsold.

The star was one of Edvard Munch’s four versions of “The Scream,” which set a record for a work of art at auction when it sold for $119.9 million.

“The Scream” smashed the previous record of $106.5 million, established in May 2010 by Pablo Picasso’s “Nude, Green Leaves and Bust.” The price for the Munch, which includes Sotheby’s $12.9 million commission, exceeds Christie’s entire Impressionist and modern art sale the night before.

4. Samsung Galaxy S3 to hit Indian markets soon

The much-awaited Samsung Galaxy S-III smartphone, which was unvieled here last evening, is expected to hit the Indian markets soon.
The Galaxy S-III model would be available in the European market towards the end of the current month and subsequently in the other parts of the globe from June onwards, Samsung Electronics President and Head of IT & Mobile Communications Division J K Shin said.

5. Govt plans to set up fund for buying overseas coal assets

NEW DELHI: Coal Minister Sriprakash Jaiswal today said the government is planning to set up a fund for acquiring of coal assets abroad and urged public sector companies to be proactive in making decisions on foreign investments.
The fund would be similar to a sovereign wealth fund. The Minister's comments come against the backdrop of severe coal shortage hurting power, steel and other sectors.
Jaiswal said even though Coal India Ltd (CIL) has surplus resources for investing outside, it is important to have financial support from the government for acquiring large assets abroad.

Let’s count the events of the day

 

1. Facebook Agrees to Buy Instagram Photo App for $1 Billion

Facebook Inc. (FB), the biggest social- networking service, is buying the Instagram mobile photo-sharing application for about $1 billion in cash and stock, using its biggest acquisition yet to lure users of mobile devices.Instagram, owned by San Francisco-based Burbn Inc., was valued at $500 million after raising about $60 million last week from investors including Sequoia Capital, said people with knowledge of the funding who asked not to be identified because the matter is private. The acquisition is expected to close this quarter, Menlo Park, California-based Facebook said today.

Instagram lets users take pictures with smartphones, retouch them with borders and filters, and then post the images on social networks. Founded in 2010, it has become the most popular free photo-sharing application on Apple Inc. (AAPL)’s App Store and boasts more than 30 million users. Owning it may help Facebook attract handset users and advertisers who target them, said Rebecca Lieb, an analyst at Altimeter Group LLC.

http://www.bloomberg.com/news/2012-04-09/facebook-agrees-to-buy-instagram-photo-service-for-1-billion.html

 

2. Sahara Group in talks to buy 'The Plaza' in New York for Rs 3,000 crore

Little over a year after he snapped up London's iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included Marilyn Monroe and the Beatles, for around $600 million (Rs 3,000 crore).

http://articles.economictimes.indiatimes.com/2012-04-06/news/31300279_1_grosvenor-house-hotel-sahara-group-subroto-roy

3. Loop Telecom to Shut Shop Outside Mumbai

Privately-held Loop Telecom Pvt. Ltd. Tuesday said it will shut shop across all of India except for Mumbai, which accounts for 3.25 million of the company's 3.26 million subscribers in the country.It added that it has asked the government for a refund of about 33.0 billion rupees ($645 million) as well as unspecified damages from the government, after the Supreme Court ordered the cancellation of 21 of Loop's 22 licenses in a wider corruption case involving allotment of bandwidth and permits in 2008.Loop Telecom will continue to operate in Mumbai as that license was given before 2008, a company spokesman said.

 

 

 

Worth Reading:

 

http://www.bloomberg.com/news/2012-04-09/billionaires-unmasked-as-coty-persists-in-pursuit-of-avon.html

http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Instagram-7-things-to-know/articleshow/12608854.cms

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.