Snapdeal acquires majority stake in RupeePower

At present, it has 40 employees. "Over the next one year, we plan to ramp up our headcount to about 200 people. Most of these will be engineers, who have an understanding of the financial services market," RupeePower founder and CEO Tejasvi Mohanram said.

E-commerce major Snapdeal has picked up majority stake in digital financial products platform, RupeePower, for an undisclosed amount through a stock and cash deal. The move will help Snapdeal to enter the Rs 4,500 crore online financial services market in the country. "Consumers often face difficulty while deciding and buying financial products/services.

This partnership will help solve distribution challenges of the financial services ecosystem and make it more inclusive," Snapdeal co-founder and CEO Kunal Bahl told reporters. He declined to comment on the financial terms of the deal. Founded in 2011, Gurgaon-based RupeePower offers a digital distribution platform for loans, credit cards and other personal finance products.

At present, it has 40 employees. "Over the next one year, we plan to ramp up our headcount to about 200 people. Most of these will be engineers, who have an understanding of the financial services market," RupeePower founder and CEO Tejasvi Mohanram said.

RupeePower, which counts State Bank of India , ICICI Bank  and Bajaj Finserv  among its partners, claims to have enabled credit disbursal worth Rs 1,500 crore through its platform in FY2014-15. "In the next 24 months, we expect this number to grow to about Rs 6,000 crore (USD one billion)," Bahl said.

He added that going ahead, there will be integration of the platforms to allow Snapdeal consumers to make purchases using the finance options offered through RupeePower.

"The share of digital origination of credit is poised to grow from today's 7.5 percent to 40 percent over the next four years, in an Rs 400,000 crore (USD 67 billion) retail credit market growing at 20 percent annually," Mohanram said.

RupeePower aims to become the No 1 originator of financial products over the next couple of years with the investment received from Snapdeal, he added. Snapdeal also runs a 'Capital Assist' initiative, under which its helps its sellers to secure financing to expand their operations.

Launched in August last year, the company has already helped over 150 sellers raise over Rs 50 crore through the initiative. Asked if Snapdeal is looking at raising funds, Bahl replied in the negative. "We have used our funds in a very efficient manner.

Raising money is a full time job and we want to focus on our business. We want to bring entrepreneurs on board (who have products and solutions) because in the long term that will help sustain the business," he said. 

SBI stock price

On March 31, 2015, State Bank of India closed at Rs 267.00, down Rs 0.9, or 0.34 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 186.74.

The company's trailing 12-month (TTM) EPS was at Rs 16.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.07. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.69.

20.07 | 0 komentar | Read More

Govt direct tax collection to miss revised target for FY15

Government's direct tax mop-up is set to miss the revised target for the 2014-15 fiscal as the collection so far has been only about Rs 6,30,000 crore, an I-T department official said.

Keeping in view of the sluggish rise in collection, the government had revised downwards its target at Rs 7,05,000 crore for the current fiscal, after initially having budgeted Rs 7,36,000 crore in the direct tax mop-up.

The department may not be able to achieve even the revised target, the official said, adding as on March 24 the department had collected only Rs 6,30,000 crore from across the country, up Rs 5,83,000 crore during the corresponding period last fiscal, thus showing a growth of 8.2 per cent.

Mumbai continued to be the largest centre for income tax collection and mopped up Rs 1,99,426 crore so far, which is higher by 10.9 per cent when compared to the mark of Rs 1,79,763 crore during the corresponding period last fiscal.

The I-T Department has a target to mop up Rs 2.30 trillion from Mumbai this fiscal out of the direct tax collection target of Rs 7.04 trillion for FY15. The Delhi circle collected Rs 96,722 crore as against Rs 86,619 crore during the corresponding period last fiscal, registering a growth of 11.7 per cent, the official said.

The official blamed the likelihood of lower than projected target of direct tax collection to certain sectors like manufacturing which have not been able to do well in the sluggish country's economic growth. The sluggish collections come even as many large corporate paid higher advance tax this fiscal, and especially in the fourth quarter.

While the nation's largest lender State Bank of India  has reportedly paid 23 percent more in advance tax at about Rs 1,794 crore for the March quarter compared to around Rs 1,456 crore a year-ago, LIC has paid Rs 1,470 crore, an increase of 15 percent over Rs 1,280 in the same period last year.

For the full fiscal, the insurance behemoth has paid Rs 5,880 crore as against Rs 5,100 crore in the last financial year, while mortgage lender HDFC  paid 12.8 per cent more at Rs 2,435 crore, this fiscal. Its Q4 payout was about Rs 550 crore, up from Rs 500 crore a year ago. Rural development lender Nabard has paid about Rs 1,560 crore, up from Rs 1,490 crore. 

20.07 | 0 komentar | Read More

HCC wins Rs 392 crore contract from govt

The project is part of the Special Accelerated Road Development Programme for North Eastern Region and includes rehabilitation, upgradation and augmentation of the existing carriageway, major and minor bridges, culverts, road intersections and so on, it added.

Hindustan Construction Co Ltd  on Tuesday said it has bagged a contract worth Rs 392 crore from the Ministry of Road Transport and Highway for 4-laning of a road.

"HCC has been awarded a contract worth Rs 392.13 crore ...for 4-laning of 26 km long road on NH52 between Jamugurihat to Biswanath Chariali by-pass in Assam," the company said in a filing to BSE.

The project is part of the Special Accelerated Road Development Programme for North Eastern Region and includes rehabilitation, upgradation and augmentation of the existing carriageway, major and minor bridges, culverts, road intersections and so on, it added.

HCC said the project will be completed in 36 months. "In addition to this, HCC is lowest bidder in contracts worth Rs 4,341 crore in various segments for which the final orders are yet to be received," the filing said. The order book position of the company as of December 2014 stands at Rs 14,307 crore, it added.

20.07 | 0 komentar | Read More

Don`t wait for new tax free bonds! Go for listed bonds now

Though finance minister has announced issuance of tax free bonds in FY 15-16, it makes sense to buy bonds from secondary market. Listed bonds are expected to offer double digit returns which should make them better investment opportunity.

Vikram Dalal
Synergee Capital Services

Post parliament election and interim budget for the year 2014-15, there was rally in tax free bonds. The debt market was expecting a reduction in interest rate and in the interim budget, there was no announcement for any new tax free bonds. As there was no supply of fresh tax free bonds from the government, that ensured that the prices of these bonds in secondary market went up quickly. In last one year the bonds have given an annualised return of 25-30%. This return comprises of 15-20% premium and balance 8-9 % by way of tax free interest.

In the recent budget for the year 2015-16, the finance minister, has made an announcement for new tax free bonds for infrastructure sector. As per the past track record, generally the tax free bonds are issued in second half of the financial year. The rate of interest depends upon the benchmark GOI rate at the time of issuance.

During 2013-14, the tax free bonds were issued at 50 basis points below the benchmark GOI. The rate of interest ranged between 8.00 – 9.25%, depending upon the tenure and credit rating of the PSU. The retail investor were offered 0.25% extra interest rate in comparison to HNI/Institutional investor. To earn additional 0.25% interest, the retail investor should not invest more than Rs.10 lacs in a particular tranche of a PSU. If we go by these earlier guidelines we can safely conclude that the tax free bonds issued this year will also be issued at much lower interest rates.

As of now, the ten year GOI is trading at 7.70% yield to maturity and the bond market is expecting a substantial rate cut in the financial year 2015-16. If the interest rates move down by 50 basis points in next six months, the yield available on the new tax free bonds may not be attractive – typically around 6.75%.

The tax free bonds of earlier issues are available in the range of 7.00 - 7.25% yield to maturity. This offers an investment opportunity with little risk for investors. Especially for high net-worth individuals who pay tax at 30% rate of tax, it makes a worthy investment. If one accounts for the existing premium on the bonds and the interest accrued so far these bonds are offering pre tax return of 10.00-10.35%. Compare this with bank fixed deposit rates that are ranging between 8.5-9%, and the investment opportunity looks even better.

Many investors may still argue that there are bonds and company fixed deposits that offer 11% rate of interest. However a point to note is they come with credit risk. The existing tax free bonds listed in the secondary market, are issued by government undertakings and are akin to sovereign debt. There is little credit risk involved. There is no point taking undue risks with unknown players to earn one percentage point more as compared to a government bond.

Here are some investment options below:

20.07 | 0 komentar | Read More

Housing For All By 2022 - Far-Fetched Or Feasible?

If this very ambitious goal is indeed to be met, there needs to be a clear, well-thought out policy document outlining the exact deliverables and accompanied by methods/initiatives to streamline the development process.

Anuj Puri
JLL India

Viewed dispassionately, the current government's 'Housing for all by 2022' promise seems a bit unrealistic at the moment, as the modalities and concrete steps needed to be undertaken to achieve this goal have not been spelled out. Making 2 crore urban houses and 4 crore rural houses available is a huge undertaking in itself, and will require not only sustained government interest and investment but also substantial private sector investment and involvement.

In the previous budget, the announcement of Housing for All was accompanied by increased allotment to the National Housing Bank for both rural housing and for extending credit to the urban poor/EWS/LIG segment. There was also talk of setting up a Mission on Low Cost Affordable Housing, which was to be anchored in the National Housing Bank. However, the track record of government-built housing in terms of quantum and delivery timelines has been as abysmal as that of the private sector. The last budget did not indicate any further steps on the 'Housing for All by 2022' initiative.

If this very ambitious goal is indeed to be met, there needs to be a clear, well-thought out policy document outlining the exact deliverables and accompanied by methods/initiatives to streamline the development process. This entails reducing approval times while providing specific incentives to build such houses on time. Considering that the government has seven years in all to achieve this target, it fundamentally involves construction of 30 billion square feet of housing stock, or approximately 4 billion square feet per year if we assume an average of 500 square feet per house (this is in line with creating smaller houses for the rural population and urban poor).

To state that this is an ambitious objective is perhaps an understatement. Without a clear roadmap in place, it is likely to remain unachievable. The roadblocks remain in ensuring land availability, easy credit and involving construction experts, town planners and the private sector to expedite this target.

The problem is not merely a function of making land available and increasing the FSI to incentivise developers undertaking low-cost housing projects. There is a need for systemic change in how the government perceives the entire issue of housing for the urban poor. Regulatory changes, faster approvals, removal of red tape and resolution of land litigation issues need to be adequately addressed to improve stakeholder participation. While the consent clause for the affordable housing segment has been done away with in an ordinance, the government is still struggling to get it passed through parliament.

A three-pronged approach involving the state, regulatory bodies and the executing agency/private player is of the essence. The respective state governments will also play a major role in synergising their own housing policy with that of the Centre and revitalising the role of the development authority as more a facilitator with contracts being awarded to private players/semi-government agencies such as HUDCO and NBCC utilising the Budget's 'plug and play' mechanism, where all approvals and linkages are already in place.

Execution penalties will be deterrents, but it is essential to have the right development partners who will not put their hands up in the middle of project execution citing financial viability. Suitable fiscal incentives to the private industry as well as financial support through cheaper industry loans will also be required to ensure healthy participation.

Even if all these fall in place, the government's target remains a stiff one and its agencies' track record of delivery or assisting industry through removal of multiplicity of time-consuming approvals in the past does not provide a lot of confidence.

The only positive has been the intent of the current dispensation to move ahead with definite thought. The slogan has to move from the drawing board to an actionable plan where stakeholders at each level are clearly identified and made accountable for facilitating real, ground level development of low-cost housing. The issues which need to be resolved before the private sector will be a willing partner in this initiative have been documented earlier.

Other aspects such as granting of infrastructure status to such projects should be explored. This will provide easy and cheaper finance aiding faster development. The plug and play approach for infrastructure as enumerated in the Budget makes for an ideal blueprint to begin with for the Centre and the states so that the entire focus is towards timely delivery of housing units, which after all is the result everyone hopes and expects in the next seven years.

20.07 | 0 komentar | Read More

Hyderabad hosts Metropolis World Congress Conference XI

Noted for its own distinctive culture and architecture Hyderabad today stands once again for an altogether different reason; it's ambitious vision for the future as it plays host to the much awaited 11th Metropolis World Congress Conference.

Hyderabad has always been unique. Geographically situated more or less at the crossroads of north and south India it was described as India's diamond studded Shangri-La, the city of pearls. Noted for its own distinctive culture and architecture Hyderabad today stands once again for an altogether different reason; it's ambitious vision for the future as it plays host to the much awaited 11^th Metropolis World Congress Conference.

Watch accompanying videos for more..

20.07 | 0 komentar | Read More

Sell MCX Gold April; target of Rs 26540-26450: Achiievers

Achiievers has recommended to sell MCX Gold April at Rs 26650 for the target price of Rs 26540-26450 with a stop loss of Rs 26750 , in its research report dated March 30, 2015.

Achiievers report on Gold

Gold settled down -0.87% at 26569 as investors opted for the riskier equity assets after some mixed economic data from the U.S., and notwithstanding a fluctuating dollar. Also pressure seen after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank may be on course to raise interest rates later this year. Bullion is headed for a second consecutive monthly drop in March as a looming US . rate hike dims the appeal of a noninterest bearing asset. Also Yellen said on Friday that an increase in the Fed's benchmark rate "may well be warranted later this year" given sustained improvement in US economic conditions. The Fed signaled in its March statement that it was moving a step closer toward raising rates, though the central bank cut its economic outlook and slashed its median estimate for the federal funds rate, in a sign that it was prepared to move more slowly than the market expected ahead of the meeting. Meanwhile US economic data was mixed today, with fourth quarter GDP unrevised and a better than expected consumer sentiment report. Economic activity in the U.S. grew at an unrevised rate in the Q4 of 2014, according to the final estimate released by the Commerce Department. U.S. GDP increased 2.2 percent in the Q4, unchanged from the growth estimated last month. Hedge funds and money managers cut their net long position in gold, but raised their net long in silver for the first time in eight weeks as prices rallied toward their highest in more than a month. Now Investor caution over the price rally was evident as SPDR Gold Trust, continued to post outflows. Holdings fell nearly 6 tonnes on Thursday to 737.24 tonnes, the lowest level since January. In the week ahead, investors will be turning their attention to Friday's U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Technically market is getting support at 26384 and below same could see a test of 26200 level, And resistance is now likely to be seen at 26755, a move above could see prices testing 26942.

SELL GOLD APR @ 26650 SL 26750 TGT 26540-26450.MCX

For all commodities report, click here  

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions

To read the full report click here

20.07 | 0 komentar | Read More

Do we really need to pay road toll?

It is baffling why consumers pay cess on petroleum products and road taxes for highway development when every single new highway is now a toll road

As of May 2014, India had a statewise length of over 92,851 kilometres of national highways. Even though expressways and national highways constitute only about 1.7% of the length of all roads, they carry about 40% of the road traffic. Rapid expansion of passenger and freight traffic makes it imperative to improve the road network in the country. The most preferred mode has been the BOT (Build-Operate-Transfer). The recovery of cost is through tolls which are purportedly for a duration of 20-30 years. This method has not been without its flaws though.

A 2012 joint study by Transport Corporation of India and Indian Institute of Management – Kolkata found that the average waiting time for vehicles at each toll plaza on high volume routes was almost 10 minutes. The estimate was made taking in to account the 525 toll plazas operating on national and state highways at that time, the over 20,000 vehicles that crossed these plazas daily and queuing period of between five and ten minutes for each vehicle to pay toll. The study said the vehicles collectively spent between 1,800-3,600 hours at the toll plazas. The advantage of higher speeds gets somewhat minimized due to snarls at major toll posts. Some of these are now brazenly within municipal limits also, severely hampering traffic movement.

In 2011, a study by CRISIL Research estimated that the fuel wastage by vehicles waiting at toll plazas amounted to Rs 1000 crore annually, and based on each vehicle's fuel consumption of between 0.5-1 litre per hour, the daily wastage amounted to Rs 3-6 crore. This is not at all wise planning for a nation so heavily dependent on external supplies. It may be a good idea for a business but very poor for the economy. In the short run, government makes profit but in the long run, throws it all away as forex on imports. Ultimately, the nation and the taxpayer lose. The approximate 11,000 crore rupees of toll collection hardly justifies the humongous waste of a precious national resource which also adds to the air pollution.

The entire process of BOT model is mired in controversy as several of these infrastructure companies are said to have political backing. Besides, there is never a clear timeline when it comes to the transfer of the asset to the public. The infrastructure companies seldom consider themselves answerable to the public regarding the quality and maintenance aspects of the highways and bypasses.

It is baffling why consumers pay cess on petroleum products and road taxes for highway development when every single new highway is now a toll road.

There are various alternatives worth consideration. For instance, the petroleum cess could be hiked in specific areas to pay for road development so that burden is equitable. Another method would be to increase road tax on vehicles. Geo-identification is very easy and tax burden can be suitably adjusted so as not to penalize non users.

20.07 | 0 komentar | Read More

The big event : NSE funancial national finale

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion.

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion. Each of these teams has had a victory at their city level, semi-finals and one victory is all that stands in their way towards being crowned national champion.

Watch videos for more..

20.07 | 0 komentar | Read More

Here's an exclusive chat with FCB's Nigel Jones

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Watch video for more.

20.07 | 0 komentar | Read More

Here's how Klay is helping new moms get back to work

It is not easy for new mothers to go back to work for various reasons and one of them is the challenge of finding a good day care center and that is what pushed Priya Krishnan to startup Klay an acronym for Kids Learning and You, a preparatory school that provides day care services to working parents.

It is not easy for new mothers to go back to work for various reasons and one of them is the challenge of finding a good day care center and that is what pushed Priya Krishnan to startup four years ago. Bangalore based Priya Krishnan setup Klay an acronym for Kids Learning and You, a preparatory school that provides day care services to working parents.

Watch video for more.

20.07 | 0 komentar | Read More

Real Estate TV: Themed lifestyles now come from developers

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Watch video for more.

20.07 | 0 komentar | Read More

Here's how Klay is helping new moms get back to work

It is not easy for new mothers to go back to work for various reasons and one of them is the challenge of finding a good day care center and that is what pushed Priya Krishnan to startup Klay an acronym for Kids Learning and You, a preparatory school that provides day care services to working parents.

It is not easy for new mothers to go back to work for various reasons and one of them is the challenge of finding a good day care center and that is what pushed Priya Krishnan to startup four years ago. Bangalore based Priya Krishnan setup Klay an acronym for Kids Learning and You, a preparatory school that provides day care services to working parents.

Watch video for more.

20.07 | 0 komentar | Read More

The big event : NSE funancial national finale

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion.

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion. Each of these teams has had a victory at their city level, semi-finals and one victory is all that stands in their way towards being crowned national champion.

Watch videos for more..

20.07 | 0 komentar | Read More

Here's an exclusive chat with FCB's Nigel Jones

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Watch video for more.

20.07 | 0 komentar | Read More

Real Estate TV: Themed lifestyles now come from developers

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Watch video for more.

20.07 | 0 komentar | Read More

Cancelling JSPL bid and allotment of mines to CIL wrong: HC

Following the report, the stock surged 6.5 percent intraday. It closed the day at Rs 157.00; up 4.53 percent.

The Delhi High Court has observed that the rejection of winning bids of Jindal Steel & Power Ltd  (JSPL) for two coal blocks in Chhattisgarh was 'prima facie' wrong as the government was making a mistake in comparing the bids with quotes received for other blocks.

Following the report, the stock surged 6.5 percent intraday. It closed the day at Rs 157.00; up 4.53 percent.

The high court will again hear the case on Friday and asked the government to work out an interim arrangement for the blocks.

The court's observations are seen as a setback for the government, which has seen several legal challenges to auction of coal blocks, particularly by firms that lost out. However, the Centre is pleased about the auction as a whole as it has received high bids. It plans to auction more blocks next month.

The court's observations also come as a relief to JSPL and Bharat Aluminum Company (Balco) that took legal recourse after the coal ministry on Friday cancelled auction process for three blocks for which the companies emerged as successful bidders. On Monday, a bench of justices BD Ahmed and Sanjeev Sachdeva had restrained the government from allotting the Tara mine to Coal India .

The government had disapproved bids for JSPL's Gare Palma IV/2&3 and Tara mine and Gare Palma IV/1 for which Balco emerged as the best bidder. The coal ministry allotted these mines to Coal India Ltd. Both these blocks are operational mines and as per Supreme Court's September 2014 verdict that cancelled 204 captive mine allotments, producing mines have to be surrendered by the previous allottee.

JSPL made the best bid for the Gare Palma IV2&3 coal block at a price of Rs 108 per tonne while foregoing the mining cost. Tara coal block auction closed at Rs 126 per tonne. Balco emerged as the best bidder for the Gare Palma IV/1 at a price of Rs 1,585 per tonne.

After rejection of its bid, JSPL had said it was "puzzled" by the government's decision. It said it had followed a consistent and prudent bidding strategy throughout the coal auction with a serious long-term business perspective.

Jindal Steel stock price

On March 27, 2015, Jindal Steel & Power closed at Rs 157.00, up Rs 6.80, or 4.53 percent. The 52-week high of the share was Rs 350.00 and the 52-week low was Rs 125.05.

The company's trailing 12-month (TTM) EPS was at Rs 3.88 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 40.46. The latest book value of the company is Rs 142.79 per share. At current value, the price-to-book value of the company is 1.10.

20.07 | 0 komentar | Read More

Use cheques, cards to check black money: FM

Finance Minister Arun Jaitley on Friday made a case for encouraging the use of cheques and "plastic currency" to tackle the generation of black money.

"As the economy grows, there is a roadmap, and the roadmap is more and more people start discarding the use of currency and switch over to either cheques or plastic currency," he said.

Speaking at the Foundation Day celebrations of Security Printing and Minting Corporation of India Ltd (SPMCIL) here, Jaitley said that in a developed country like the US or the UK, maximum value of a currency is USD 100 and 50 pounds.

"One of the objectives is to dis-incentivise the use of currency and incentivise the use of plastic currency or any other negotiable instrument which is available. That is the eventual target," he said, adding that the government is taking steps to reduce incidence of high value cash transaction.

"Some steps have also been announced which make use of cash little difficult," he said, adding that the move would check use of unaccounted money.

In the Budget 2015-16, Jaitley has announced steps to deal with the menace of black money by dis-incentivising cash dealings in real estate and other such transactions.

The government has also taken steps to incentivise the use of credit and debit cards and putting a cap on cash transactions. Quoting PAN has been made mandatory for all sale and purchase of over Rs 1 lakh.

He also proposed to amend the Income-Tax Act to prohibit "acceptance or payment" of an advance of Rs 20,000 or more in cash for purchase of immovable property.

Jaitley lauded the progress made by SPMCIL in the production of bank notes and coins and the steps taken to modernise the units. SPMCIL is a 'Miniratna' central public enterprise and this is the fourth year in succession when the company has paid 20 percent dividend .

It printed a record 8,018 million pieces of bank notes and produced 7,650 million coins. The company's turnover now stands at Rs Rs 3,798 crore.

SPMCIL produces bank notes, coins, medals and medallions, weights & measures as well as various security products like passports, travel documents, non-judicial stamp papers, postal stationery. 

20.07 | 0 komentar | Read More

Global crude oil prices to stabilise soon: FM Jaitley

Concerned over volatility in international oil prices, Finance Minister Arun Jaitley Friday expressed hope that the situation in the Middle East will improve and the prices will stabilise.

Concerned over volatility in international oil prices, Finance Minister Arun Jaitley Friday expressed hope that the situation in the Middle East will improve and the prices will stabilise.

"I am sure the last word on the economy of the oil has not been spoken yet. There are assessments, there are speculations, there are words of wisdom.

We are passing through very fluid times and I would always hope that this fluidity settles down and the moderation comes to stay," the Minister said at 'Urja Sangam' conference here.

He was commenting on the volatility in the international oil market following attack by Saudi Arabia and its allies on rebels in Yemen. Crude oil prices soared about 5 percent yesterday on fears of impact on supplies.

However, the Brent crude prices fell 90 cents to close at USD 58.29 a barrel in Friday's trade.

The stability in crude oil prices, Jaitley said, would also help in addressing issues concerning unreasonable concentration of wealth between producers as well as the consuming states.

Yemen has border with key Middle East oil producers Saudi Arabia and Oman.

Concerns are being expressed that escalation of the crisis could disrupt oil shipments passing through the Bab el-Mandeb Strait, located between Yemen and Djibouti. As much as 3.8 million barrels of oil are transported from this route every day.

20.07 | 0 komentar | Read More

Planning to study abroad? Remember student travel insurance

Overseas Student travel insurance offers to protect financial losses arising out of various unforeseen events. One should take a note of possible health issues and buy a suitable policy

Adhil Shetty
Bankbazaar.com

Studying abroad is a dream that most in the student community would confess to having, but few go on to actually realize it. Therefore, once you have earned the opportunity to study abroad, it makes sense focus on your goal rather than fritter your time away in mitigating unforeseen hurdles that one invariably confronts in life. This is where a student travel insurance policy comes in – it can help you be prepared for potential health risks, accidents and other unanticipated hazards.

Here is a detailed analysis of the features and exclusions of student insurances for interns or students who aspire to travel abroad for higher studies.

Ensuring Safety by the Aid of a Relatively Cheap Policy

Many people opine that their personal health insurance will automatically cover the medical issues for a traveler abroad, which, unfortunately, does not hold true in case of injury or illness. Even if the basic medical expenses are covered, there may be limitations on the policy, causing the policy holder to bear a major section of the expenses. On the other hand, with student travel insurance, the traveler can ensure full coverage for medical expenses at comparatively cheaper rates!

Insuring on the Basis of your Requirement

In the case of student exchange programs or internships, many students often decide to postpone their return; others tend to travel to nearby destinations before they return to their homeland. Under such circumstances, the trip-only insurance policies end on the scheduled date, which can be extended further in case of a long-term plan. Thus, whenever you decide to travel abroad, plan your trip carefully, analyzing the place of study and your immediate plans after the course. In case you have the option to gain some experience by volunteering or applying for an internship, it is ideally recommended to consider the long term student travel insurances that can be easily renewed online for an extended coverage.

Coverage for Homecoming

There are many insurers in the market who offer coverage for the short trips to home that student often make. This can be very useful in circumstances where you might need medical help when you have landed in your home country. This is another factor to be considered on while choosing your travel policy. For instance, if your academic institution does not allow you to leave the country during a term, you might not get a chance to pay a visit to your family. On the other hand, if you skip the coverage for brief homecoming, an unanticipated emergency or accident at your home can drain your pockets unless you plan for it beforehand.

Things to be considered Before Purchasing a Policy:

• How Far you are travelling: Medical care expenses are typically governed by the location of the patient as well as the patient's condition. Consider the distance you are travelling before purchasing the insurance policy. Moreover, if you are travelling in a location with common health risks, you must pay special attention for that coverage in your policy.
• Determining the medical expenses available: In many countries, medical care facilities are provided by the academic institutions as a part of the sponsorship program. However, if your insurance policy includes this cost, it means that you do not need to worry about the bills even if you travel to other countries.
• Your own risk: Students traveling abroad for studies differ in personality and inclination for risk-taking. While some prefer to be hooked with projects and term papers, others might love exploring new places. Needless to say, almost every traveler faces a finite amount of risk, simply because they are away from their home country.

Exclusions in the Student Travel Insurance Policy

Much like all forms of insurance, student travel insurance too has its own set of limitations. Here are the most common exclusions in student travel insurance coverage:
1. Accidents or injuries caused by drinking or under the influence of drugs;
2. Any form of loss due to mental health problem or depression;
3. Returning to home country for availing medical facilities;
4. Accidents caused by personal risks or extreme behavior – for example, adventure sporting, diving or jumping off from heights.
5. Pre-existing medical condition, i.e. if you experience a serious illness or injury about 2-3 months prior to the trip, and in due course of the trip you need medical care for the same cause, the expenses will not be covered by the policy.

Therefore, it is very crucial to pay attention to the limitations of your insurance policy, so as to avoid disputes in the future. With numerous protection policies, you are likely to find a suitable policy with a little bit of research. Avoid taking a policy simply because you need one; instead plan the claims you might require in due course of your abroad travel and invest in an effective policy that will protect you in the long run.

20.07 | 0 komentar | Read More

Market nearing end of sell-off now; like pvt banks: Experts

According to Sanjay Dutt, the stocks of several companies had become expensive with their prices running way ahead of fundamentals but with expectation of a further correction, market must use that as a buying opportunity now

The Indian market saw immense selling pressure on Thursday with the Nifty closing expiry below 8350-mark and the Sensex shedding 654 points to close at 27458 led by geopolitical tensions. Banking & financials and technology stocks led the massive fall.

Speaking to CNBC-TV18, Sanjay Dutt of Quantum Securities said the market is nearing the end of the sell-off now though there will be some more correction but that will not be very deep. The market and the experts were building too many positives into the Budget and the Reserve Bank o India action.

According to him, the stocks of several companies had become expensive with their prices running way ahead of fundamentals but with expectation of a further correction, market must use that as a buying opportunity now.

Adding to the discussion, Deven Choksey, MD, KR Choksey Securities said the exposure of foreign investors towards India is quite high. He believes players are off-loading long positions in the market ahead of the truncated trading week.

He likes private sector banks though he's expecting muted performance by public sector banks going ahead.

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India's title defence ends in heartbreak, Oz enter finals

India's near flawless title defence came to an agonising end on Thursday as they succumbed to pressure against the clinical Australians, who decimated the defending champions by 95 runs to romp into the finals and break a million Indian hearts.

In an engrossing semifinal clash, four-time champions Australia rode on Steve Smith's classy 105 to post an imposing 328/7 before bundling out India for 233 in 46.5 overs to set up a summit clash with trans-Tasmanian rivals and co-hosts New Zealand in Melbourne on Sunday.

After a dream run which saw them win seven matches on the trot, India's quest for a second successive World Cup title was finally thwarted by the formidable Australians, who outplayed Mahendra Singh Dhoni's bravehearts in every department at the fully-packed Sydney Cricket Ground.

Skipper Mahendra Singh Dhoni (65, 65 balls) stood tall amid a disappointing batting show as he waged a lone battle to take India past the 200-run mark and make a match of it despite the steep asking rate.

At the top, Shikhar Dhawan was another notable performer with 45-run knock. The Indians had themselves to blame for the loss as the bowling unit, which had performed admirably till now, failed to deliver when it mattered the most while the batting also crumbled under pressure.

The jubilant Aussies broke into wild celebrations after Mitchell Starc castled Umesh Yadav (0) to dismiss the last Indian batsman in the 47th over. Home captain Michael Clarke was composed though as he shook hands with the Indians and acknowledged the Aussie supporters, who had interestingly been outnumbered by Indian fans on Thursday.

Set a record run chase, the first 300-plus score in a World Cup semifinal, the Indians started off with a flourish with Dhawan and Rohit Sharma (34, 48 balls) adding 76 runs for the first wicket in 12.5 overs.

But Dhawan's dismissal proved crucial as the runs dried up in the face of a determined effort by a fired up Australian pace battery. Mitchell Johnson (2/50), Mitchell Starc (2/28) and Josh Hazlewood (1/41) put the fancied Indian line-up under immense pressure as wickets kept tumbling at regular intervals.

Despite Thursday's heartbreak, India put up a commendable effort in defending the title after a horror tour of Australia prior to the mega-event after which not many experts of the game had given the team a chance.

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Spectrum bids won't result in high call rates: Prasad

Aditya Birla Group firm  Idea was the most aggressive bidder, followed by Sunil Bharti Mittal's  Airtel and UK's Vodafone in the fiercely contested spectrum auction that Telecom Minister Ravi Shankar Prasad today insisted will not result in increase in call rates.

Of the record Rs 1,09,874.91 crore received in the 19-day auction that concluded yesterday, the government will get Rs 28,872.7 crore within 10 days but Prasad wanted the telecom operators to pay the upfront money within six days to help the government meet its budget targets of the 2014-15 fiscal.

Ideal Cellular, which provides mobile services using GSM technology, bid a maximum of Rs 30,306.98 crore to buy spectrum in the 900 megahertz, 1800 MHz and 2,100 MHz bands.

Airtel bid Rs 29,130.20 crore in the same bands, which also saw Vodafone commit Rs 29,959.74 crore.

New entrant Mukesh Ambani-run Reliance Jio bought radiowaves that carry mobile telephony calls and data in 800 MHz and 1800 MHz for Rs 10,077.53 crore.

His younger brother Anil's  Reliance Communication also bid in the same bands but walked way with lesser spectrum for Rs 4,299.13 crore.

While Norway's Telenor was the only company out of the 8 that participated in the auction but did not to win any radiowaves.

Tata Teleservices bought Rs 7,851.33 crore of spectrum in 800 MHz and 1800 MHz. Aircel will pay Rs 2,250 crore to buy spectrum in 1800 MHz band.

"In the 2010 spectrum, we collected Rs 1.06 lakh crore but against that there was a Rs 30,000 crore share of BSNL and  MTNL against the auction allocated to them earlier. This time there is no component of BSNL and MTNL.

Therefore, it is the highest in the history of Indian telecom," Prasad told reporters here.

He further said: "The first instalment is to be payed in 10 days at outer limit. We still have six days in this financial year. National revenue is equally important and the image of the country.

I will appeal to all the bidders to pay by March 31." The minister countered industry experts terming auction determined spectrum as very high that will lead to hike in mobile call and other services rates. "I am seeing a huge campaign that mobile rates will go up. A person very familiar with telecom industry has given me analysis.

The spectrum will be with operators for 20 years. As per the analysis, the yearly load on telecom operators is going to be about Rs 5,300 crore...and 1.3 paise per minute call," he said.

Bharti Airtel stock price

On March 26, 2015, Bharti Airtel closed at Rs 398.70, up Rs 3.85, or 0.98 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 299.80.

The company's trailing 12-month (TTM) EPS was at Rs 28.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 13.94. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.39.

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Idea Cellular pays $4.8 bn for airwaves, highest in auction

The government expects to receive about 288.72 billion rupees (USD 4.61 billion) in initial payments, which winning bidders have to make by April 4.

Idea Cellular  Ltd, India's third-biggest mobile operator by market share, spent 303.06 billion rupees (USD 4.84 billion) to buy mobile airwaves in the country's spectrum auctions, telecoms minister Ravi Shankar Prasad said on Thursday.

That was the single biggest amount spent. Together with market leaders  Bharti Airtel and Vodafone Group Plc's India unit, the top three players paid 855.75 billion rupees, or about 78 percent of the total airwaves sold, according to figures provided by the minister.

The government expects to receive about 288.72 billion rupees (USD 4.61 billion) in initial payments, which winning bidders have to make by April 4.

India raised a record USD 17.6 billion from the sale of mobile phone airwaves after 19 days of fierce bidding that ended Wednesday.

Idea Cellular stock price

On March 26, 2015, Idea Cellular closed at Rs 180.40, up Rs 7.00, or 4.04 percent. The 52-week high of the share was Rs 184.00 and the 52-week low was Rs 129.20.

The company's trailing 12-month (TTM) EPS was at Rs 6.88 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 26.22. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 4.09.

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FY16 divestment target higher; rates can go lower: Jaitley

Speaking at Growth Net Summit, Finance Minister Arun Jaitley Wednesday said the government is trying to maintain the fiscal deficit roadmap. He added India is on the growth path with flurry of activities lined up in defence, highways and railways.

Finance Minister Arun Jaitley Wednesday said the government has stepped up divestment target for FY16 and is trying to maintain the fiscal deficit roadmap.

Speaking at Growth Net Summit, he touched upon subjects such as strength of rupee, investments in manufacturing, agriculture, telecom auction, GST etc and added that India is on the growth path with flurry of activities lined up in defence, highways and railways. With slowdown in China, the FM is keen to project India as an investment destination and believes manufacturing has to be the driver for growth.

Speaking about budgetary support to highways, the FM informed a substantial part of the road cess has been passed on to the highways on lower oil prices. "Have inherited a mess in legacy of highways," he quipped adding "there is a need for a proper methodology to exit stuck projects, and to put a life line into them.

On easing of rates, Jaitley asserted he envisages lower rates for India, sees more cuts in future and expects banks to act in a prudent manner. However, "we don't pressurise banks to cut rates," he said.

While talking about the autonomy of the CSO that releases key economic data, Jaitley said both the FM and PM are not privy to such data until they are released. "I would be satisfied ‎if we grow at double digits," he said.

See transcript on next page

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Railways to see USD 140 bn investments in 5 years: Prabhu

Prabhu said infrastructure development was crucial to promote and sustain economic growth, and that it had to be led by public spending

Indian Railways will see investments of USD 140 billion over the next five years, Railways Minister Suresh Prabhu said in an exclusive interview to CNBC-TV18 Wednesday.

Making Railways the engine of economic growth is one of the objectives of the Narendra Modi-led NDA government. 

There are investments happening in brownfield rail projects at the moment, Prabhu said, adding that Railways was working on multimodal transport systems, which included road and water.

He said there huge potential for development in inland waterways.

Prabhu said infrastructure development was crucial to promote and sustain economic growth, and that it had to be led by public spending. He estimates that India will need USD 5-7 trillion over the next 15-20 years, at an incremental rate of 10 percent every year.

He said in addition to capital, availability of land would be critical to developing India's infrastructure. 

In his first Budget speech as Railway Minister last month, Suresh Prabhu had said that gross budgetary support from the central government was "neither viable nor necessary", despite the cash crunch his ministry was facing.

For remunerative projects, he felt it was possible to generate resources through market borrowings, routed through partnerships with Railway PSUs and IRFC. Also, some projects could be equity-driven, through partnerships with State governments, he had said in his speech.

VIDEO AND INTERVIEW TRANSCRIPT TO FOLLOW

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Spectrum auction concludes, govt garners over Rs 1 lk cr

According to sources, the spectrum auction payout by various companies stand at -- Vodafone likely to be at Rs 34,500 crore, Bharti Airtel at around Rs 27,500 crore, Idea (Rs 28,000 crore), Reliance Jio (Rs 11,000 crore) and Reliance Communications (Rs 2,300 crore).

The telecom spectrum auction finally concluded Wednesday after 19 days and 115 rounds. The government has garnered over Rs 1 lakh crore at the close of bidding, however 11 percent airwaves stayed unsold.

According to sources, the spectrum auction payout by various companies stand at -- Vodafone likely to be at Rs 34,500 crore, Bharti Airtel  at around Rs 27,500 crore, Idea  (Rs 28,000 crore), Reliance Jio (Rs 11,000 crore) and Reliance Communications  (Rs 2,300 crore).

GV Giri of IIFL expects the mainstream telecommunications company (telcos) to largely retain at least the minimum spectrum in their renewal circles. "I expect based on the information disclosed in the last three weeks by department of telecommunications (DoT) that Bharti would have increased their spectrum holdings in a few circles and I would expect that Idea has at least managed to get the minimum of 5 Mhz assured for itself," he said.

Giri said that the auction has come at a steep price and therefore smaller companies will be burdened. "There could also be a few cases of companies losing out on their 900 Mhz because there was not enough of it or the price was too steep or the bidding was just too competitive," he said.

He believes the market might start paying a lot more attention to 900 Mhz 3G as a differentiator between operators as "sooner or later the operators who have paid big money for the spectrum will start putting it to use in the best possible way which is to use it for data".

"Overall if after the Supreme Court hears this case starting tomorrow, the judgement concludes with the auction considered valid and if the results seem to say that our current guesses and estimates are by-and-large accurate then the market will react very positively," he added.

Bharti Airtel stock price

On March 25, 2015, Bharti Airtel closed at Rs 394.85, up Rs 0.55, or 0.14 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 289.80.

The company's trailing 12-month (TTM) EPS was at Rs 28.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 13.8. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.37.

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Petronet top post: GAIL directors, OIL Chairman in race

About a dozen candidates, including top directors at gas utility GAIL India  and Chairman of Oil India , are in the race to become the Managing Director and CEO of Petronet LNG , the nation's biggest liquid gas importer.

OIL Chairman and Managing Director S K Srivastava, Engineers India Ltd  (EIL) head A K Purwaha as also GAIL Directors Pradhan Singh, P K Jain and Ashutosh Karnatak are among the candidates who have applied for the post.

The government has decided not to give an extension to incumbent A K Balyan.

Also in fray are Petronet LNG Ltd Director (Finance) R K Garg and its Director (Technical) Rajender Singh, sources privy to the development said.

The candidates have been called for an interview before a three-member Search Committee on March 30, they said.

Petronet is majority owned by state-owned oil firms ONGC , GAIL, BPCL  and IOC  but is registered as a private company and its MD & chief executive officer (CEO) has always been appointed by a panel of promoter firms.

However, this time around a three-member panel comprising Oil and Natural Gas Corp (ONGC) Chairman and Managing Director Dinesh K Sarraf and two independent directors on Petronet Board - Arun Kumar Misra and Sushil Kumar Gupta has been formed, sources said.

Balyan's five year term is till July 15 and he is eligible for an extension till he attains the superannuation age in July 2016, the ministry - whose secretary is the Chairman of the company, has decided against giving him an extension.

On March 3, an advertisement was posted inviting applications for the new CEO and candidates with "exceptional leadership qualities, strong negotiation and communications skills and familiarity with finance/project management in large organisation" asked to apply by March 20.

The window for applying for the job has been cut to just two weeks instead of four weeks during previous times, they said. Balyan, who turns 64 in July, was appointed Managing Director and CEO of Petronet for a five-year term beginning July 16, 2010, with the condition that it could be extended till his superannuation age of 65 years.

Sources said the ministry is keen to appoint a new head before Oil Secretary Saurabh Chandra retires at the end of April.

The new head, however, will assume charge from July 16. Balyan, who was then Director for Human Resources and Business Development in ONGC, was in May 2010 selected for the top job at Petronet by a panel consisting of the heads of the promoters of the company.

Besides ONGC, Indian Oil Corp (IOC), GAIL India Ltd and Bharat Petroleum Corp Ltd (BPCL) hold 12.5 percent stake each in the company which operates two LNG import terminals in Gujarat and Kerala. 

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Huawei aims to sell 2 mn 'Honor' handsets this year

Chinese handset maker Huawei said it aims to sell two million units of its 'Honor' range of handsets in India this year as it aims to target the "digital natives" in the country with the online-only brand. The company today unveiled two new devices under the Honor range -- 4X (priced at Rs 10,499) and 6 Plus (Rs 26,499), which will be retailed through eCommerce major Flipkart. It now has four devices under the Honor range.

"The dual brand strategy has been working well for us globally and in India. Last year, we sold 3,00,000 units of Honor devices and this year, we are looking at 7X growth in that number, at about 2 million. We are focused on bringing in devices that will appeal to Indian users," Honor President George Zhao told PTI.

He added that the company will bring one or two more devices under the range to India. "We will bring in affordable and premium devices with the best possible technology for the digital natives," he said. Increasingly, a number of companies are focusing on the tech-savvy youngsters, using e-Commerce as the distribution channel.

While Motorola was one of the first handset vendors to sell its devices solely through online retail, China's Xiaomi and Micromax subsidiary Yu have also followed the same route. Globally, Honor sold about 20 million units in 2014, raking in USD 2.4 billion in revenues. Overall, Huawei saw its handsets business revenues at about USD 12 billion last year.

According to research firm IDC, Huawei was the world's fourth largest smartphone vendor with 6.25 percent share. It follows Korean electronics giant Samsung (20.01 percent), Apple (19.85 percent) and Lenovo (6.59 percent) in the tally in the October-December 2014 quarter. Honor 6 Plus features a 5.5-inch display, 3GB RAM, Quad-core Cortex-A15 and quad-core Cortex-A7 processors, 32 GB internal memory, 4G support and 3,600 mAh battery.

It also comes with a dual 8MP rear camera. The Honor 4X is powered by a 1.2 GHz quadcore CPU and features a 5.5-inch display, Android KitKat OS, 13MP rear and 5MP front cameras, and 3,000 mAh battery. Besides, the company has set up a Huawei Honor Fund, under which the company will contribute USD 0.1 from the sale of each device (4X and 6 Plus).

This will be awarded to start ups and individuals working on ICT technology. 

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SBI sees loan growth picking up from next year

Most banks have yet to cut their base lending rate, despite a 50 basis point reduction in the key policy rate by the central bank so far this year.

State Bank of India , India's largest lender, expects loan growth to rise to as much as 15 percent in the fiscal year to March 2016, boosted by government auctions for coal concessions and mobile radio airwaves, Chairman Arundhati Bhattacharya said on Tuesday.

That compares to what is expected to be "very very low" loan growth of below 10 percent in the current fiscal year, Bhattacharya said in an interview.

She also said a cut in India's cash reserve ratio, the share of deposits which lenders must hold with the Reserve Bank, would "definitely help" banks to cut lending rates, Bhattacharya said.

Most banks have yet to cut their base lending rate, despite a 50 basis point reduction in the key policy rate by the central bank so far this year.

SBI stock price

On March 24, 2015, State Bank of India closed at Rs 270.40, down Rs 4.3, or 1.57 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 171.40.

The company's trailing 12-month (TTM) EPS was at Rs 16.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.28. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.71.

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Idea Cellular launches 3G services in Delhi

The company has launched 3G services in 900 Mhz band frequency that was earlier used by Airtel and Vodafone.

Telecom operator Idea Cellular  on Tuesday launched 3G services in Delhi using spectrum that it won as part of the February 2014 auction.

"With the 3G launch in Delhi, Idea has not only expanded its 3G footprint to 12 circles across the country, but has also become the only mobile operator to have seamless 3G network across the entire length and breadth of Northern India," Idea Cellular Deputy Managing Director Ambrish Jain said in a statement.

The company has launched 3G services in 900 Mhz band frequency that was earlier used by Airtel and Vodafone.

With this launch, Idea has also become first operator to launch 3G service in 900 Mhz band, which was being used for 2G services.

"Idea has nearly 6 million subscribers in Delhi with approximately 30 per cent being data users.

The existing 3G users will experience enhanced services and products and offerings while the new subscribers will benefit from our affordable 3G tariffs and superior network," Idea Cellular Chief Operating Officer for Delhi Sanjeev Govil said.

Idea Cellular now offers 3G service in 21 telecom service areas out of the total 22. In 12 circles, it is providing service on its own while in 9 areas it is providing 3G services under roaming arrangement with Airtel  and Vodafone.

"Idea users will now have a better experience while accessing services like video telephony, mobile TV, video on demand, music downloads, online gaming, amongst many others," the statement said. 

Bharti Airtel stock price

On March 24, 2015, Bharti Airtel closed at Rs 394.30, up Rs 10.95, or 2.86 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 289.80.

The company's trailing 12-month (TTM) EPS was at Rs 28.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 13.78. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.36.

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Sun-Ranbaxy USD 4 billion merger completed

The two firms have received nod from the Competition Commission for sale of seven brands to Emcure Pharma to comply with the fair trade watchdog's conditional nod for their merger.

Almost a year after announcing a USD 4 billion deal, Sun Pharmaceutical Industries  said merger of Ranbaxy  with itself has been 'consummated' following receipt of requisite approvals.

In a filing to the BSE, the company said all the requisite approvals have been received for the merger of Ranbaxy into Sun Pharma effective from the appointed date of April 1, 2014.

It further said the approvals received from the respective High Courts have been filed by Ranbaxy and Sun Pharma with the respective Registrar of Companies today.

"With these filings the merger of Ranbaxy into Sun Pharma has been consummated," the company said.

In April, 2014, Sun Pharma had announced it would acquire troubled rival Ranbaxy in an all-stock transaction worth USD 4-billion that includes USD 800 million debt. The merger would create India's largest and the world's fifth largest drugmaker.

Earlier in the day, Sun Pharma had announced receipt of RBI nod for transfer of overseas investments of Ranbaxy to it and issue its shares to the non-resident shareholders of the latter as part of their merger deal.

The Reserve Bank of India on Monday also gave approval for transfer of overseas investments held by Ranbaxy in its joint venture and wholly owned-subsidiaries to Sun Pharma, pursuant to the proposed merger of Ranbaxy with Sun Pharma through a Scheme of Arrangement.

The central bank also approved issue of equity shares of Sun Pharma to the non-resident holders of equity shares of Ranbaxy Laboratories, the filing added.

The two firms have received nod from the Competition Commission for sale of seven brands to Emcure Pharma to comply with the fair trade watchdog's conditional nod for their merger.

In an order issued yesterday, CCI approved the deal with Emcure, which would purchase the 'divestment products' that were ordered to be sold in an earlier direction issued in December last by the Competition Commission of India (CCI).

These seven brands were at the core of the CCI's contention that the merger between Sun Pharmaceutical Industries and Ranbaxy Laboratories was 'prima-facie' in violation of competition laws and therefore the regulator had ordered divestment of those products under its 'conditional' approval to the deal.

In December, CCI had directed Sun Pharma to divest all products containing 'Tamsulosin + Tolterodine' which are marketed and supplied under the Tamlet brand name. Similarly, Ranbaxy was directed to divest all products containing Leuprorelin which are marketed and supplied under the Eligard brand name.

It also had to divest products such as Terlibax, Rosuvas EZ, Olanex F, Raciper L and Triolvance. 

Sun Pharma stock price

On March 24, 2015, Sun Pharmaceutical Industries closed at Rs 1039.85, up Rs 15.85, or 1.55 percent. The 52-week high of the share was Rs 1074.05 and the 52-week low was Rs 556.50.

The latest book value of the company is Rs 35.77 per share. At current value, the price-to-book value of the company was 29.07.

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Religare Invesco Growth Fund announces dividend

Religare Invesco Mutual Fund has announced dividend under the dividend option and direct plan-dividend option of Religare Invesco Growth Fund, an open ended diversified equity scheme. The record date for declaration of dividend is March 26, 2015.

The quantum of dividend on the face value of Rs 10 per unit will be Rs 8.50 per unit under each plan / option.

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Tax on capital gain depends on time period they are held

Many get confused with the period of holding of shares with the mode of holding. However it is the time period the shares are held is more important.

Arnav Pandya

There is often an element of doubt about the calculation of the time period for the holding of shares in a company. The time period of the holding is significant because the moment the period crosses a time period of 12 months the asset becomes a long term capital asset and any capital gains that are earned on this have a zero per cent tax rate applicable to it. Thus the investor would want to ensure that their holdings fall into this bracket especially in times of a market rally because this will end up with a lower tax impact.

Demat holdings

One of the questions that investors have is with respect to the manner of calculation of the time period for the holding of the shares. There are cases wherein shares have been bought in a physical form many years ago and then they have been converted into demat form. The shares are sold after this and the question that arises is whether the one year time period should include the time period when the shares were held in physical form or will this just include the demat time period. It could be that the sale of the shares after being converted to demat form has taken place in less than a year and the worry is that this could lead to the individual having to pay tax.

Actual position

The actual position as far as the tax calculations is concerned is that the entire time period of the holding of the shares need to be considered while calculating the time period for which the shares were actually held by the individual. . The process of demat of the shares is just a means of conversion of the manner of holdings of the investment and hence this is not an actual act of purchase or sale. What is important in the process is to actually see which shares have been taken for the purpose of demat. This is possible because for a physical holding there are distinctive certificate numbers that are available. The individual can thus know exactly which are the shares that have been converted in this manner and the time when they were actually purchased and this would make the calculation process easier to undertake.

Distinctive issues

The process of looking at the time period of the holding of the investment is different from the manner in which the shares in demat are to be considered for determining which shares have been sold. The point with respect to the time period of the holding is simple which is that this would have to be taken from the time that they were actually purchased. On the other hand the process of determining which of the shares were actually sold is important to give a cost to the entire holding. This actually helps the individual to distinguish between the various holdings and specifically which of them has been sold. Once this is determined then the individual would have to see the cost for this particular holding and the time when this was actually purchased.

Right calculation

The right calculation and consideration of the details are important so that there is no problem in terms of payment of the taxes on the investment. This is significant as there should not be any confusion in the entire matter and it will ease the entire process for the individual. This can be quite a task especially if the number of holdings is large and there are some more transactions that have been done during the year. Knowing the details would also ensure that the process is completed easily and without any problems.

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JM Balanced Fund announces dividend

JM Balanced Fund announces dividend, the record date for dividend is March 25, 2015.

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SBI MF announces dividend under its two schemes

SBI Mutual Fund has announced dividend under the regular plan-dividend option and direct plan-dividend option of SBI Magnum Taxgain Scheme and SBI Arbitrage Opportunities Fund. The record date for declaration of dividend is March 27, 2015.

The quantum of dividend on the face value of Rs 10 per unit will be:

SBI Magnum Taxgain Scheme - Regular Plan - Dividend Option: Rs 5.50 per unit

SBI Magnum Taxgain Scheme - Direct Plan - Dividend Option: Rs 7.00 per unit

SBI Arbitrage Opportunities Fund - Regular Plan - Dividend Option: Rs 0.07 per unit

SBI Arbitrage Opportunities Fund - Direct Plan - Dividend Option: Rs 0.14 per unit

20.07 | 0 komentar | Read More

Watch exclusive preview of Snapdeal's new TVC

At a time when e-commerce advertising is concentrated on discounts, Snapdeal is looking to make an emotional connect with its consumers. It has a new tag line and has also roped in actor Aamir Khan as its new brand ambassador. Noticeboard segment of Storyboard showcases an exclusive preview of its new TVC.

At a time when e-commerce advertising is concentrated on discounts, Snapdeal is looking to make an emotional connect with its consumers. It has a new tag line and has also roped in actor Aamir Khan as its new brand ambassador. Noticeboard segment of Storyboard showcases an exclusive preview of its new TVC.

Watch video for more...

20.07 | 0 komentar | Read More

First look at Dulux's new ad shoot

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

Watch video for more...

20.07 | 0 komentar | Read More

Exclusive chat with Havas Chairman CEO, Yannick Bollore

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

 Watch video for more...

20.07 | 0 komentar | Read More

Motomiu Katanga Uno first ride review

After seeing that intro line you might ask me, What in heck do you mean? Aren't all customs better than stock? Phooey! But the answer to that question is a matter of perspective. Most people think of custom bikes as good-looking. Not entirely inaccurate. But to many that's all that matters. Unfortunately I cannot be that person. Not thinking about riding a bike - and that includes customs - is like going to an unlimited buffet with your mouth sewn closed. Painful, uselessand frustrating. And if I'm honest, I've seen so... Read More

20.07 | 0 komentar | Read More

First look at Dulux's new ad shoot

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

Watch video for more...

20.07 | 0 komentar | Read More

Storyboard: Etihad's new global campaign

Storyboard's top story today looks at the new global campaign of Etihad Airways that was launched this week. UAE's national carrier has a new tag line and a new brand ambassador in Oscar winning actor Nicole Kidman.

Storyboard's top story today looks at the new global campaign of Etihad Airways that was launched this week. UAE's national carrier has a new tag line and a new brand ambassador in Oscar winning actor Nicole Kidman. The aim is simple - the 11 year old airline is on an expansion spree and will add 9 new destinations this year. In an exclusive chat, Etihad's Chief Commercial Officer Peter Baumgartner tells us what the new brand positioning hopes to achieve and how this will play out in Etihad's new markets.

Watch video for more...

20.07 | 0 komentar | Read More

Watch exclusive preview of Snapdeal's new TVC

At a time when e-commerce advertising is concentrated on discounts, Snapdeal is looking to make an emotional connect with its consumers. It has a new tag line and has also roped in actor Aamir Khan as its new brand ambassador. Noticeboard segment of Storyboard showcases an exclusive preview of its new TVC.

At a time when e-commerce advertising is concentrated on discounts, Snapdeal is looking to make an emotional connect with its consumers. It has a new tag line and has also roped in actor Aamir Khan as its new brand ambassador. Noticeboard segment of Storyboard showcases an exclusive preview of its new TVC.

Watch video for more...

20.07 | 0 komentar | Read More

Exclusive chat with Havas Chairman CEO, Yannick Bollore

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

 Watch video for more...

20.07 | 0 komentar | Read More

Have you missed paying advance tax on March 15th?

Suresh Surana
RSM Astute Consulting

It was a Sunday and you may have forgotten the advance tax deadline of March15. Wondering what will be the impact? Do not worry- you can still pay and comply. But before rushing to pay your tax, understand how it all works.

Advance tax is based on the principle of "pay as you earn". It is collected even before the income tax becomes payable and the installments are payable during the financial year itself.

Advance Tax is payable only when the amount of income tax payable by the assessee during that year is Rs.10,000 or more. Resident individuals who are over 60 years of age (senior citizen) and do not have business income are not required to pay advance tax. Further, no advance tax is payable in case of assessees covered under section 44AD (presumptive taxation). Corporate assessees liable to pay tax on the basis of Book Profit (MAT) are required to pay advance tax.

Advance tax is payable only on estimate basis. While computing liability for advance tax, income-tax calculated on the current income estimated by the assessee shall be reduced by TDS deducted / TCS collected, MAT /AMT credit, relief under tax-treaty. After making payment of first/second instalment of advance tax, the assessee can revise the remaining instalment(s) of advance tax in accordance with his revised estimate of current income and pay tax accordingly.

The Income Tax Act has given a scheme of payment i.e., four instalments in case of companies i.e., 15th June, 15th September, 15th December, and 15th March and three installments for non-corporate assesses i.e. 15th September, 15th December and 15th March. As per the CBDT Circular No. 676 of 1994 if the last day for payment of any instalments of advance tax is a day on which the receiving bank is closed, the taxpayer can make the payment on the next immediately following working day, and in such cases, the mandatory interest leviable under section 234B and section 234C would not be charged. Where payment of advance tax is made by a cheque, the date of payment of advance tax in such case would be the date of the presentation of the cheque and not the date of clearing, if it is not dishonoured.

All incomes (including capital gains, winnings from lotteries, crossword puzzles, etc.) are liable for advance tax. However, it is not usually possible for an assessee to estimate his capital gains or winnings from lotteries, etc. Thus, in such cases, it is provided that if any such income arises after the due date of any installment, then, the entire amount of tax payable (after deduction of TDS, if any) on such capital gain or casual income should be paid in remaining installments of advance tax which are due or where no such installment is due, by 31st March of the relevant Financial Year. If the entire amount of tax payable is so paid, then no interest on late payment will be leviable.

In case, the assessee has not paid any advance tax or paid advance tax but which is less than 90% of the assessed tax, the assessee shall be liable to pay simple interest @ 1% per month from first day of April following the financial year, under section 234B.

Likewise, in case the payment of advance tax is deferred beyond the due dates as per the prescribed limits, interest @1% per month, for a period of 3 months, will be payable for every deferment, except for the last installment of 15th March where it will be 1% for one month, under section 234C .

20.07 | 0 komentar | Read More

Zaheer Khan bowls a yorker with ProSport

For many years, Zaheer Khan was the mainstay of India's bowling attack. Be it tests or ODIs, the team often depended on him to create breakthroughs with his swingers or yorkers. In fact with his 311 wickets in Test at a striking average of 32.95, he is still rated as the second-most successful Indian pace bowler in Test cricket, behind Kapil Dev.

The biggest moment for the tall man came when he played a significant role in the 2011 World Cup, being the leading bowler for India, that eventually went on to win the cup.

Yet, Zaheer's career has not been as smooth as his balls, frequently disrupted by his injuries. But just like the never-say-die spirit he displays on the field, he does the same in life as well. He is now an avid entrepreneur with restaurants and lounges to his name. And learning the hardway through his own personal experiences while he was injured, he has even launched India's first fitness and rehabilitation center, that aims to help sportspersons recuperate in a scientific and empirical manner. ProSport is the fitness and physiotheraphy centre where he is trying to bring new fitness techniques and regimens in India.

In a freewheeling chat with Shashwat DC and Avinash Iyer, the 36-year-old cricketer also known as Zak, who is preparing hard for the upcoming IPL, talks about turning entrepreneur and the state of sports fitness in India.

And even as he does all that, he is still a simple cricketer at heart following India's campaign in the World Cup. While he still wears his loyalties for the Men in Blue on his sleeve, he is wary of the New Zealanders, "They could be the dark horses," he warns.

Q. How and when did you get bitten by the entrepreneurship bug?

A.  There was a phase in my career, when I was struggling with my injuries. Given the unpredictability of a sports career, I realized I need something to fall back on. I discussed this with my brother and that's how Zaheer Khan's Hospitality came into existence. It has been about 10 years now. We started our first outlet in 2005 and now we have four outlets in Pune. I have always enjoyed creating something new, be it in sports or otherwise.

I was also looking to create something in connection with what I do – play cricket. That's where the idea of Toss (a sports lounge in Pune) came. We thought that sports in this country is picking up so much and has such a huge fan following. We wanted to give something to the fans where they could connect with the sportsperson or the sport they follow. Toss is a sports lounge where we not only focus on creating an environment which is very sports-centric, but we are also bringing in sports stars so fans can spend an evening with them. We are going beyond just being a sports lounge and trying to get fans closer to sports stars. For this World Cup, we send a couple of guys to watch a game in Australia.

Q. What's with hospitality and cricketers? Is it some form of creative outlet for you all?

A. When you travel, you explore different kinds of cuisines. It gives you exposure to various cultures. During foreign tours, I too was open to trying the local specialties. By getting into the hospitality business, you get a chance to combine these culinary experiences under one roof and present it to your people. As in the case of my restaurant, my brother ably supported me and things just fell into place. The idea was to bring in my personality to the restaurant, but the food was supposed to be the hero.

Q. You started a fitness and physiotherapy centre called ProSport Fitness in Mumbai. How did this happen?

A. I had been thinking about starting a fitness and physiotherapy centre for nearly 5-6 years, more so after my shoulder surgery that took place somewhere around 2008. We have brilliant surgeons in India, but the post-surgery period is often not backed by the right of physiotherapy, which is absolutely essential. As an athlete, you have to get back onto the field as soon as possible. You need a bit of aggressive physiotherapy. You just don't have to get recovered from a surgery, but you also have to get to probably what you were before. That's how the idea of ProSport was born.

                                                                                                                                                                                   

Working out: Zaheer Khan trains at ProSport     

Q. When it comes to sports fitness and physiotherapy, is there a gap between India and other countries?

A. There is a gap. There was a reason I used to go abroad for physiotherapy because I used to never find that kind of training in India. I strongly felt that India needed a centre dedicated to sports injuries, injury management and sports rehabilitation. At ProSport, we have physiotherapists and trainers from abroad. When you have a patient coming in specially post surgery, you are taking him through the whole routine. Physiotherapist takes care of his rehab till he is mobile, the moment the physiotherapist thinks that he is ready for training, trainer takes the patient to a level where he is fully read to go on his own. ProSport is not only for athletes but for commoners as well.

Q. Are people becoming more and more aware about fitness these days?

A. Yes. The amount of people participating in marathons has gone up. A lot of people are taking up adventure sports. This shows that people are understanding the importance of staying fit and healthy. ProSport is also taking a road which is a bit educational so that people realize that this facility is not only for athletes. If athletes can do it, so can you.

Q. What is your vision for the future of ProSport?

A. Vision is to make a difference. The concept is unique. It's not a typical gym. We want to have studios and hubs. ProSport studios will be more training centric and hubs will take a holistic approach towards sports.

Through ProSport, we are encouraging people to take fitness seriously.

20.07 | 0 komentar | Read More

Short of funds for higher education? Take education loan

Adhil Shetty
BankBazaar.com

After students pass out from schools, funding their higher studies is both a momentous event and a dilemma faced by parents. The costs of higher professional education have gone through the roof. Education loans come in as much-needed financial succour to help talented and meritorious students realise their dreams of studying in reputed professional institutes.

The most alluring feature of education loans is that they can be repaid after the completion of the particular educational course. This loan generally covers all expenses incurred towards the tuition and other fees, library charges, hostel and mess charges, cost of books and equipment, maintenance, caution fund/building fund/refundable deposit and cost of passage (for studies abroad), etc.

Here is a lowdown on the entire education loan process.

How to apply

Students applying for education loans can approach public sector (nationalised) banks and private sector banks that offer educational loans for professional studies in India and abroad.

However, before approaching these banks, it is crucial to have sufficient prior knowledge about the various education loan schemes and their pros and cons. Also, all the possible expenses should be calculated, whether it is tuition fees or boarding and lodging expenses, before you avail an education loan. It will help you to arrive at the precise amount you need to take as loan.

The second step is to finalise the financial institutions from which you should take the loan – government banks, other government financial institutions or private sector banks and institutions. Government loans are highly subsidised and require the interest to be paid after completion of education in easy-to-pay instalments. But,some reputed financial institutions also offer loans at competitive interest rates. You should do a thorough research on all the terms and conditions regarding the moratorium and repayment periods, etc, when you apply for an educational loan.

Loan eligibility

To be eligible for an education loan, you should be an Indian national and must have obtained admission to an approved professional or technical course at a leading educational institution in India or abroad through stipulated entrance tests or the due selection process. The lenders prefer students who have a consistently good academic record. The loan applicants should have an earning parent or guardian as a co-applicant to the loan. The exact amount of educational loan is subject to the individual repaying capacity of the parents or student.

The education loan process

Once banks receive applications for an educational loan, they determine the period of the loan that normally does not exceed five years as well as the margin money that has to be paid by loan-seekers. Generally, for a loan above Rs 4 lakh, you have to furnish the minimum down payment (payment from your own sources) of five per cent for studies in India and fifteen per cent for studies abroad. However, the requirement for the minimum down payment is dispensed with in case of loans below 4 lakh. The course for which the loan is being taken should justify the amount of loan. Mostly, lenders grant the maximum amount of Rs. 10 lakh for studies in India and Rs. 20 lakh for overseas professional education.

Planning the loan repayment

Generally, education loans have a repayment period ranging from five to seven years and the EMI startsfrom the first year after the course completion or six months after the loanapplicant secures a job. But, in some cases, the repayment period starts within six months of course completion. In case a student finds it difficultto service the loan, it is advisable to request the lender to re-schedule the repayment period or seek for a moratorium period.

If you secure a well-paid job on completion of the course, the repayment can be acceleratedto repay your debts as early as possible. Thus, you can maintain your credibility and good track record, as well as save on your first earnings.Significantly, students can prepay educational loans without attracting any penalty.

Implications of moratorium period

Students need not pay interest during the moratorium period. But, there is a cost. For instance, if you avail a loan amount of Rs 5 lakh with the moratorium period of three years and loan repayment period of seven years at an interest rate of 13 per cent per annum, a simple interest is calculated on the disbursed amount from the date of disbursement. A compounded interest payment starts from the first EMI date.

Difference between secured and unsecured education loan

Most education loans fall into the unsecured loan category, but in some cases, collateral security can be asked. Collaterals asked for education loans are usually property owned by the guarantor (parent), which is free from any other legal complications or liabilities. Therefore, if a student fails to repay the loan, the consequences can be quite grave.

Most loans offered by PSBs are secured education loans. Generally, they have lower interest rates and their rates are fixed, compared to the variable rates of private lenders. Most secured loan providers also offer options of delayed repayment in the event of illness or prolonged unemployment.

Unsecured student loans from a bank or private lender usually have higher-than-average interest rates due to the risk component on providing a loan without any collateral. But, such loans provide a sizable amount of money to students in a relatively short span of time.

Education loans are a handy option, especially for many underprivileged students. The government intends to make it available for all those who qualify on the basic parameters, irrespective of their financial status. For the same reason, these loans are offered without stringent scrutiny, unlike other loans. However, defaulting on education loan payments will adversely affect the borrower's as well as the guarantor's (parent's) credit-worthiness, which would render any fresh borrowing in the future a difficult proposition.

20.07 | 0 komentar | Read More

BSNL undertakes Rs 1,000 cr investment plan

State-owned BSNL has undertaken a Rs 1,000 crore investment plan which include launch of Skype facility and setting up of Wi-Fi hotspots at tourist places, a top official said on Friday.

State-owned BSNL has undertaken a Rs 1,000 crore investment plan which include launch of Skype facility and setting up of Wi-Fi hotspots at tourist places, a top official said on Friday.

"We have taken several measures. Only last week we began migration of landline customers to next generation service facility.

It will provide lot of services to customers. Second, we are experimenting with BSNL Skype. For the Wi-Fi hotspots, 14 centres in tourist places in South zone have been identified," BSNL Director N K Gupta said.

"These are the plans which I said entailing Rs 1,000 crore investments. It will take at least five to six months (to roll out)", he told reporters, after launching the fourth Internet Data Centre here established with datacentre infrastructure firm CtrlS. Currently, BSNL has set up such internet data centres in Ahmedabad, Faridabad and Hyderabad.

CtrlS will provide the infrastructure facility while BSNL will provide the bandwidth and space for the service. "This is part of revenue sharing between CtrlS and BSNL. It will be able to host services; can be used as software as a service and cloud computing", he said.

According to a company official, the service would be offered to corporates and companies like National Payment Corporaton Chennai office and Electronic Corporation of Tamil Nadu have evinced interest to avail the service.

20.07 | 0 komentar | Read More

Sunflag Iron Steel Company: Outcome of board meeting

Sunflag Iron & Steel Company has informed that the Board of Directors of the Company at its meeting held on March 19, 2015, has transacted the following: 1. The Board of Directors of the Company has review the compliance of the provisions of the Companies Act, 2013 and Rules made there under.

Sunflag Iron & Steel Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 19, 2015, has transacted the following:1. The Board of Directors of the Company has review the compliance of the provisions of the Companies Act, 2013 and Rules made there under.2. The Board of Directors of the Company has approved the revision of remuneration of Key Managerial Personnel (KMP) based on the recommendation of Nomination & Remuneration Committee subject to approval of the members of the Company by way of Special Resolution.Source : BSE

Read all announcements in Sunflag Iron

20.07 | 0 komentar | Read More