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Showing posts from April, 2013

BLACKBERRY PLAN @ 129 PER GB

Smartphone maker BlackBerry today launched a plan offering all its services for Rs 129 per GB in 15 mid- and low-revenue generating circles, including Uttar Pradesh, Tamil Nadu and Rajasthan, targetting a deeper penetration in these regions. The monthly plan would be available on the network of Aircel, Idea Cellular and VodafoneI. However, in metros and top four telecom circles of Gujarat, Andhra Pradesh, Maharashtra and Karnataka, the plan is limited to use of BlackBerry Messenger only.The company will offer all BlackBerry services like to email, BlackBerry Messenger, instant messaging, social networking, Internet browsing, as well as access to the BlackBerry World application store. The plan is for BlackBerry OS 7 smartphones in the country which include BlackBerry Curve 9220, BlackBerry Curve 9320, BlackBerry Bold™ 9990, BlackBerry Bold 9 smartphone models.
For Corporate users, in addition to the above services, they can also deploy BES Express at zero cost of Software…

BIZ CLIMATE PICKS UP

Business climate has improved in April on factors such as rising production of intermediate goods, including aluminium and iron, and the government's reform initiatives, according to a report. The BluFin Business Cycle Indicator (BCI), which reflects various macroeconomic trends on a monthly basis, stood at 165.9 points in April, 5.1 per cent higher compared to the same month last year, suggesting that the Indian economy is growing at a faster rate than the previous year.
Historically, the BCI has grown by an average of seven per cent year-on-year, financial information provider BluFin said today. Moreover, BCI has been indicating a reversal in the economic slowdown since July 2012 and expects that economic growth in India to gather momentum by the second quarter of financial year 2013-14. The report pointed out some of the components with a "positive influence on the overall composite include falling international prices of crude, gold and copper and rising …

ETIHAD LINKEDIN

Abu Dhabi-based Etihad Airways has launched an innovative online mapping tool developed in cooperation with professional network LinkedIn to make it easier to message new contacts, arrange meetings and be more productive while travelling. The airline said its 'Etihad Mapped-Out' tool offers professionals on LinkedIn the ability to search their connections by geographical location and see them displayed on a map making it easier for business travelers to connect with their global network of contacts as they travel. According to the airline, LinkedIn members can enter search parameters based on geographical area, industries of interest; and first- and/or second-degree connections. The result of the search is a personalised map of the member's LinkedIn connections, with a listing of business contacts within the region. Members can also reach their contacts instantly by sending messages directly from the contact list, the airline said. "As a global airli…

NOW RASNA READY TO DRINK BEVERAGES

Fruit drink concentrate maker Rasna today entered the ready-to-drink beverage segment in the country with launching four variants of juices and said it expects Rs 500 crore revenues from the category in the next three years. "We would be happy if it (beverage segment) becomes a Rs 500 crore entity in the next 2-3 years," Rasna Chairman and Managing Director Piruz Khambatta told reporters here. The juice segment in the country is estimated to be around Rs 5,000 crore per annum, he added. The company also plans to come up with its own manufacturing plant to come out with ready to drink beverages. "Currently, we have contract manufacturing arrangement for juices. In the next six months, we plan to come up with our own plant at an investment of around 50-60 crore," Khambatta said. At present, the company has seven facilities across the country to make powder concentrates. Khambatta said that the company would be adding around five more flavours in j…

MONSTER LAUNCHES SALARY INDEX

A leading online career and recruitment solutions provider Monster India today said it has launched a salary index that provides employees understanding of the level of remuneration they deserve. The Monster salary index was launched in association with www.paycheck.in and IIM Ahmedabad (IIM-A) as research partners. "Our customer research and market studies over the years indicate a strong need for a benchmark that provides both employers and job seekers with comprehensive information pertaining to labour market and salary trends from a single source," Monster.com (India, Middle East, South East Asia) Managing Director Sanjay Modi said. The Monster Salary Index provides job seekers complete information on salaries, labour market data and relevant content concerning labour law and careers.
"How much I am worth in the job market is a question in every job-seeker's mind," IIM-A's Biju Varkkey said, adding that "Collaboration with Monste…

TRAINEE OFFICER'S RAREST ACHIEVEMENT

With seven gold medals under his belt, trainee IRS officer Amar Gehlot came in for special appreciation from President Pranab Mukherjee during the valedictory function of Income Tax department officers today. Gehlot, a resident of Meerut in Uttar Pradesh, joined the National Academy of Direct Taxes (NADT) as part of the 65th IRS (I-T) batch. They had come to the elite institution after clearing the civil services exam in 2011. Gehlot was adjudged the 'best trainee officer' of the batch during the event held here. With six academic gold medals, he left only three medals for his batch mates to excel in. He was given the seventh medal by the President, the Finance Ministers gold medal, for his excellent record at academics and other streams of taxation at the institution. The President not only congratulated the young officer and patted him, but also applauded the feat. The achievement was also lauded by his instructors at the academy. Gehlot, alongwith 111 o…

WTC GETTING READY

One World Trade Center already is New York's tallest building. When the last pieces of its spire eventually rise to the roof, the 104-floor skyscraper will be feet from becoming the highest in the Western Hemisphere. Officials had hoped that would happen today, but the weather did not cooperate. The Port Authority of New York and New Jersey says the spire pieces plus a steel beacon will instead be lifted at a later date from the rooftop to cap the building at 541.32 metres. The new high-rise replaces the twin towers destroyed on September 11, 2001. The 408-foot spire will serve as a world-class broadcast antenna. The new tower is at the northwest corner of the World Trade Center site, which is well on its way to reconstruction with the 72-story Four World Trade Center and other buildings.

HSBC HOLIDAY BONANZA

HSBC has continued its endeavor of offering great value to its credit card holders around the world with the launch of this season's home&Away privilege programme. The onset of the holiday season brings with it new expectations, and the prospect of new experiences. Between 12 April and 30 June, 2013, HSBC credit cardholders are being provided an opportunity to embrace closer connections with their families and friends with a variety of leisure, travel, dinning and experiential-based activities from 12 countries including Brunei, mainland China, Indonesia, India, Hong Kong, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, Vietnam and UK. Customers travelling across Asia and looking for a relaxed holiday in Singapore, Philippines, Malaysia, Hong Kong and Vietnam, can enjoy hotel offers of upto 50% off from Regent Hotel Singapore and F1 Hotel in Manila. Aboard the Emeraude Cruises Ha Long Bay in Vietnam a 20% discount on cabin public rate is extended to all HSBC cardholders. …

PREFERRED SEATS @ EXTRA COST IN AIRLINES

In a move that would raise the cost of air travel, the government today said it has allowed airlines to charge passengers for preferred seats on a flight, check-in baggages and meals, among other things. "Civil Aviation Minister Ajit Singh has decided to permit scheduled airlines to unbundle certain services and to charge fees for these services separately," an official release said. The services for which the airlines would be free to charge passengers include preferential seating, meals, snacks, drinks (barring drinking water), check-in baggages, use of airline lounges, carriage of sports equipment and musical instruments and valuable baggages which have higher carrier liability. The practice was launched in 2008 by some US carriers which were facing financial crunch. Their decision to charge for even the first checked baggage had then received flak from air travellers, but the practice still continues with the airlines generating revenue worth millions of dollars. The rel…

NEW IDENTITY FOR ICELAND

Iceland may soon be known as 'Let's Get Lost Land' or 'Isle of Awe Land' after the two monikers were shortlisted in an online contest to search for a name that best describes the country. The competition "Inspired by Iceland" launched by the country called for suggestions on a new "name" for the country. Two finalists have now been chosen from the 25,000 entries that flooded in - 'Let's Get Lost Land' and 'Isle of Awe Land'. Jon Gnarr, mayor of the capital Reykjavik, said while it won't replace Iceland's official name, it will provide inspiration in how it's marketed, News.com.au reported. "A country's name is its identity but that doesn't mean it describes it in the right way," Gnarr said. Other names submitted included 'Best Place to Grow a Beard Land', 'Niceland', 'Pureland', 'Enchantedland' etc.

TRAVELLERS TO INCREASE BUDGETS

Global cross-border tourism is thriving and travellers intend to increase budgets for their next trip by an average of five per cent with some holiday makers even suggesting that they would more than double what they spent on their previous trip, says a new report. According to Visa's latest 'Global Travel Intentions Study 2013', its regular barometer of travel trends indicates budgets are no longer among the top three reasons behind why travellers choose their next holiday destination. The pull of attractions, scenery and rich culture are instead stronger reasons for travel. According to the study, which surveyed 12,631 travellers from 25 countries, the average global travel budget of USD 2,390 per trip is set to increase to USD 2,501. Top spenders abroad are the Saudi Arabians, spending an average of USD 6,666 per trip, while Australian (USD 4,118) and Chinese travellers (USD 3,824) were not far behind. Future travel budget increases are especially high amongst Asian mar…

Dzire MILEAGE DRIVE

Amid intensifying competition from Honda's Amaze, country's largest car maker Maruti Suzuki India has responded by conducting "mileage drive rally" for its entry level sedan Dzire across 31 cities today. "Competition is in all segment of the cars we sell. We welcome all competition. Our cars speak for themselves by their performance. We are celebrating the 5th year of the Dzire and so we thought of conducting such a mileage rally to connect with our customers," Maruti Suzuki India Vice President (Marketing) Manohar Bhat told. The mileage rally is the second in the series of what MSI described as "celebrations to mark the 5th anniversary of the launch of Swift Dzire". "Dzire remains the most economical model in its class in terms of overall cost of ownership. What we offer is luxury, mileage and value for money," Bhat said.
MSI said over 2,100 participants took part in the Dzire mileage rally held across 31 cities to co…

MORE DEMAND FOR INDIAN BONDS

The demand for Indian bonds is likely to pick up in the coming days in the wake of declining commodity prices and rationalised debt limits for foreign investors, according to a Barclays report. While the foreign demand for Indian government bonds has been subdued in the past few weeks, the demand is likely to pick up in the run up to the RBI's May 3 policy meeting, Barclays said. Moreover, the auction results on April 22, also indicate that the improving macro fundamentals (in particular in the wake of declining commodity prices) and rationalised debt limits have been welcomed by foreign investors, Barclays said.
On April 22, Rs 291.08 billion worth of government debt was auctioned to foreign investors. This was the first auction after market regulator SEBI simplified the FII rules."Recent developments – the downside surprise in March WPI inflation, the decline in commodity prices and its positive impact on inflation and India's twin deficits, and the s…

BANKS UNDER RBI SCANNER

The Reserve Bank is looking into sale of gold coins and gold-related investment products by about 30 banks to find out whether their employees are mis- selling such products to customers. The RBI move follows complaints of customers being induced by bank employees and non-staff members within bank premises for purchase of gold coins, gold-related investment products and other wealth management schemes. The central bank is studying the business practices of 30 banks to ascertain any mis-selling of these products and to find whether such products are being sold as a pre-condition for offering the regular banking services, sources said. RBI is also looking into complaints that bank staff are being pressurised by their senior officers to sell gold coins and other gold-related products in lieu of incentives. Earlier last month, RBI had ordered an investigation into three private sector banks, ICICI Bank, HDFC Bank and Axis Bank, for alleged violation of money-laundering n…

INDIAN LEADERS MORE CONFIDENT

Compared to their Chinese counterparts, Indian managers have more self-confidence, says a recent report. "Leaders in India were significantly more confident with 41 per cent confident from the start itself. Overall, 81 per cent of leaders in India and 63 per cent of leaders in China felt confident to lead within the first six months," according to talent management expert DDI's report titled 'Finding the Global First Rung Research'. Development Dimensions International (DDI) surveyed 1,373 front-line leaders in China and India. However, the study found there is definitely a disconnect, particularly in India, between self-evaluation and assessment. 38 per cent of Indian leaders feel they are strong in empowerment or delegation, but in reality 76 per cent of them have development needs in this competency. About 80 per cent managers in China are learning their leadership skills through trial and error, while managers in India place a much higher e…

PRODUCT INFO THROUGH MOBILES

Indian shoppers are increasingly using their mobiles to look for information regarding products, with almost 40 per cent preferring their handheld devices to a sales assistant in a store, a study by global market insight and information group TNS has revealed. According to TNS's 2013 annual Mobile Life study, 42 per cent consumers in India seek advice from friends and family while shopping, while checking product reviews on social media stands at a mere 2.4 per cent.
Mobile Life is a global study, which draws on behaviours, motivations and priorities of 38,000 mobile users. The study was conducted across 43 countries between November 20, 2012 and February 4, 2013. "Having knowledgeable sales staff on hand is no guarantee of success, with two-fifth (39.7 per cent) consumers in India preferring to access information on their phone than speak to a sales assistant in store, compared to almost a third of people globally," the study said. However, the study added that reading …

SMALL BUSINESSES IN FIX

Small businesses lose more than USD 24 billion in productivity every year when non-technical employees, referred to as involuntary IT managers (IITMs), are tasked with managing their company's IT solutions, a study commissioned by software giant Microsoft said today. This loss is a direct result of the IITMs taking time away from their primary business activities, the AMI-Partners small-business study, commissioned by Microsoft, said. The 'Involuntary IT Manager' study focussed on the adverse business productivity impact of IITMs in small business in Australia, Brazil, Chile, India and the US. Surveying 538 IITMs across nationally representative samples of small businesses with 100 employees or less in the five countries, the AMI-Partners research study determined that about 3.8-million small businesses managed internal IT by IITMs. Although such small businesses spent USD 83 billion on IT and communications, they lost USD 24 billion in productivity trying to manage their …

INDIAN INVESTORS ARE MOST BULLISH

Domestic investors are optimistic about the stock markets though they plan to adopt a more conservative strategy for near future, according to a global investor survey by Franklin Templeton. "Indian investors (83 per cent of respondents) are optimistic about their home country stock markets. However, similar to the global trend, majority of the Indian investors are planning to adopt a more conservative strategy in 2013," the company said in a statement. Franklin Templeton polled 9,518 investors in 19 countries across Asia Pacific, the Americas and the Europe. Respondents in India have the highest return expectations amongst all countries surveyed –- 15 per cent in 2013 and 22 per cent over the next 10 years. However, high inflation is clearly the top factor making investors reluctant to invest in the stock markets in India, followed by the state of the global economy as another factor.
"It is very clear that the industry needs to do a better job of increasing awareness …

LIC REDUCES SHARE IN SENSEX COMPANIES

State-run insurance giant LIC has lowered its exposure in 17 blue-chip firms, with sale of shares worth an estimated amount of over Rs 8,800 crore, in the quarter ended March 31, 2013. Life Insurance Corporation of India's holding increased in nine Sensex companies during the January-March 2013 quarter, showed an analysis of the shareholding pattern of Sensex constituents. Individually, LIC reduced its stake in Reliance Industries, Infosys, ONGC, State Bank of India, HDFC Bank, ICICI, Tata Steel, Tata Motors, among others during three months ended March 31, 2013. At current share prices, LIC offloaded shares worth Rs 8,865 crore in a total of 17 Sensex constituents. The Sensex fell by 591 points or three per cent during the March quarter. Besides, LIC also trimmed holdings in auto companies --Bajaj Auto, Mahindra & Mahindra and Maruti Suzuki--, drug firms --Sun Pharma and Cipla--, Hindustan Unilever and Larsen & Toubro. Infosys, Sun Pharma and Tata Motors saw LIC reducing …

DISNEY THEMED HOUSING PROJECT BY SUPERTECH

Realty firm Supertech Ltd today announced tie-up with Disney India to develop a Disney-themed housing project in Greater Noida at an investment of about Rs 500 crore. The partnership with Disney India comes close on the heel of its tie-up with Italian fashion brand Armani group for interior designing of 100 super-luxury flats in one of the mixed-use project at Noida. The tie-up with Disney India is for developing 800-1000 flats, with Disney inspired exterior and interiors, in the 7.5 acre housing project 'Fable Castle', which is part of the 100-acre township located on Yamuna Expressway. The project will have Disney inspired rooms consisting of Disney-branded furnishing, home decor products and colour palettes among others. The landscape, club, gym and other exteriors would also be based on this concept. "This is our third such project in India. We have already tied up in Mumbai and Kolkata. Consumers in Mumbai have reacted positively for Disney-themed homes and feedback …

USA's Mini Melts Ice Cream in India

USA's Mini Melts Inc launched its ice cream in India today and said it aims to make it available in 1,200 outlets in the next three years across India. It is priced at Rs 40 for an 82 grams cup. Two other packs come in at Rs 60 and Rs 85 with higher quantity. Mini Melts ice cream is produced at a temperature of about minus 190 degrees. Unlike traditional ice cream, it is flash-frozen to lock in its flavour and has no air whipped into it. In order to keep its shape and flavour, Mini Melts is stored at -45C, in specially designed and imported freezers, making it the world's coldest ice cream.

TATA HOUSING GETS OVERWHELMING RESPONSE ON PROJECT

Tata Housing, which adopted the initial public offering strategy to sell apartments, said it has received subscription worth Rs 450 crore in a single day for its newly launched project in Gurgaon. The realty firm had introduced a strategy of selling its housing units through an IPO-styled concept by floating a range of basic sales price between Rs 9,000-11,000 per sq ft. The project, 'Gateway Capital', was oversubscribed 20 times at the pre-launch stage and generated order bookings worth Rs 450 crore in a single day, Tata Housing said in a statement here. "This overwhelming response for Gateway Capital assures us there is a demand for quality homes in the market, despite contradictory speculation. "The sale, held through our innovative IPO-styled strategy, witnessed interest from a wide base of customers from across India and abroad," Tata Housing Managing Director and Chief Executive Brotin Banerjee said. The company had started accepting Expressions of Interes…

NOW, BACTERIA TO PRODUCE DIESEL

In a breakthrough, researchers claim to have discovered a method to make bacteria produce diesel on demand. While the technology developed by the University of Exeter, with support from Shell, still faces many significant commercialisation challenges, the diesel, produced by special strains of E coli bacteria is almost identical to conventional diesel fuel. Thus it does not need to be blended with petroleum products as is often required by bio-diesels derived from plant oils, researchers said. This also means that the diesel can be used with current supplies in existing infrastructure because engines, pipelines and tankers do not need to be modified. Bio-fuels with these characteristics are being termed 'drop-ins'. "Producing a commercial bio-fuel that can be used without needing to modify vehicles has been the goal of this project from the outset," Professor John Love from Biosciences at the University of Exeter said. "Replacing conventional diesel with a carbo…

GREECE OFFERS RESIDENCE TO FORIEGN INVESTORS

Greece will be offering residence to non-EU investors purchasing or renting property over 250,000 euros (USD 326,000), in a bid to revive its moribund real estate industry, officials said today. The initiative, voted into law by parliament last week, comes in response to strong demand from Arab, Chinese and Russian investors, the officials from the interior ministry and property groups told a news conference. Valid for five years and open to renewal, the residence plan follows similar measures adopted by Hungary, Spain and Portugal in the past. "Finally, the property market can move out of its paralysis a little," Stratos Paradias, head of the confederation of Greek home owners, told AFP. The permits will enable the holders, their spouses and children under the age of 18 to freely travel -- though not work -- in the Schengen area for three consecutive months at a time. The recession gripping Greece for a sixth straight year and heavy taxation has crippled the country's c…

MORE SOPS FOR SAVINGS

Expressing concerns over the lukewarm response to Rajiv Gandhi Equity Savings Scheme (RGESS), a Parliamentary panel today asked the Finance Ministry to review the scheme and formulate alternative proposals to encourage savings. The Standing Committee on Finance in its report said RGESS has not found "much favour" with investors, as the amount invested through this scheme was only Rs 51.78 crore involving about 21,000 accounts at the end of March 2013. "The Committee would thus like the (Finance) Ministry to review the scheme in its practical utility and accordingly formulate alternative proposals to encourage savings through measures such as raising the exemption limit of Rs 1 lakh under Section 80 C of the I-T Act," the report tabled in Parliament said. RGESS was notified in November, 2012 as tax saving scheme. Under the scheme to encourage investments in capital market, a new investor with annual income up to Rs 12 lakh would get tax benefits on investments up to…

NO IMPACT ON GOLD LOAN PORTFOLIOS

Association Of Gold Loan Companies (AGLOC, India) today said a 15-20 per cent price fluctuation in gold prices would not have any significant impact on the gold loan portfolios of member companies as they have already factored such fluctuations in the business model. AGLOC had taken feedback from its members on current development of falling gold prices and its impact on their loan portfolios. "Though gold price is an important factor in gold loan business, the business model should not be misunderstood as a business of financing of gold bullion or shares wherein mark to market valuation could affect the repayment behaviour of the borrower", AGLOC President George Alexander Muthoot said. "The gold loan companies are majorly lending against household jewellery where the impact of such temporary fluctuations on the business model are minimum. These loans are of short duration of 3-6 months. Compared to the disbursements, NPA levels are low," he said. Most of the comp…

INDIAN IT CASH RICH

The country's four top IT firms -- TCS, Infosys, Wipro and HCL Technologies -- have seen their combined cash chest swell to a whopping USD 8 billion (Rs 43,200 crore), even as the overall business trends remain sluggish for the entire sector. While TCS and HCL Tech managed to post strong financial numbers for the quarter ended March 31, 2013, the results were mostly disappointing from Infosys and Wipro. However, all the four companies have maintained a strong cash balance as on March 31, 2013.
Tata group's IT arm, N Chandrasekaran-led TCS (Tata Consultancy Services) closed the latest fiscal with total cash and cash equivalents of USD 1.24 billion with an increase of USD 100 million during the year ended March 31, 2013.
Its closest rival, S D Shibulal-led Infosys also saw its cash balance soar by USD 300 million to a humongous USD 4.34 billion at the end of fiscal year 2012-13. Azim Premji-led Wipro, which posted slowest sequential growth in revenues in th…

SME STOCKS POST ROBUST GAINS

Investors seem to be reaping rich returns from the stocks that got listed on the leading bourse BSE's SME platform, as 18 out of a total of 22 such stocks are trading above their public issue prices. BSE launched its SME platform for small and medium enterprises in March last year and since then 22 companies have got listed in this segment, while six more are in the pipeline. The SME platform of BSE's larger rival NSE also became operational in September 2012, but only three companies have got listed on it. The shares of two of these three companies are trading almost near their respective issue prices, while the third is trading with a considerable discount. On the other hand, the shares are trading near the levels of their issue prices in the case of three companies listed on the BSE's SME platform and one is trading with a discount to the offer price.
Among BSE's SME platform shares, scrips of Bronze Infra Tech is trading nearly 30 per cent below its issue price, st…

NSE TOP BOURSE

National Stock Exchange of India (NSE) has maintained its slot as the world's largest bourse in terms of volumes in equity segment for the first quarter of 2013, while two bourses from China have replaced NYSE and Nasdaq of the US at second and third rank respectively. NSE logged in a total of 36.6 crore trades in equity segment, during January-March 2013, making it the world's largest exchange in terms of number of equity trades, as per latest data compiled by World Federation of Exchanges (WFE). However, NSE showed a month-on-month decline in terms of the number of equity trades. From 13.8 crore in January, the number of trades dipped to 11.6 crore in February and fell further to 11 crore in March. BSE, another major Indian bourse, which recorded a total of 7.7 crore equity trades in January-March 2013, is placed at the seventh spot. However, like NSE, monthly equity trades on BSE fell to two crore in March from three crore in January. While the total numbe…

FII's BULLISH ON TATA GROUP

Foreign Institutional Investors (FIIs) raised their exposure in eight companies of the salt-to -software Tata group that included TCS and Tata Communications during the quarter ended March 31, 2013. At the same time, they trimmed holdings in five other companies of the group such as Tata Steel, Tata Motors and Tata Power.
An analysis of 13 listed firms of the Tata conglomerate which declared their shareholding pattern during January-March shows that FIIs have increased stakes in eight entities.
The USD 100-billion Tata group garners over 58 per cent of its revenue from overseas operations. IT major TCS saw FII holding increasing by about 8 per cent from 14.96 per cent to 16.14 per cent during the quarter. TCS had on Wednesday reported a 22.1 per cent jump in net profit at Rs 3,596.9 crore for January-March quarter and expressed confidence of beating Nasscom estimate of 12-14 per cent industry growth in 2013-14.
Other Tata companies that saw FII stake going up includ…

INDIAN MARKETERS BULLISH ON BRAND PERFORMANCE

Indian marketers seem to be optimistic about their brand performance in 2013 as 85 per cent of them surveyed expect their sales to be higher than last year's, says a study.
According to the Ipsos Asia Pacific Marketers Outlook 2013 study, 43 per cent of Indian marketers surveyed said their companies had performed better than expected in 2012, in terms of sales. Around 33 per cent said that it was the same as the previous year and about 24 per cent believed it was worse than excepted.
The study said Indian marketers plan to focus more on building greater brand loyalty, return on investments (ROI) of their campaigns with better quality and insights from agency partners.
The survey has three fundamental objectives - to gauge business performance for 2012, to understand the outlook for this year in terms of business performance and marketing investment and to evaluate current trends in marketing actions and strategies.
"Understanding target audience and w…

PAYU INDIA ONLINE PAYMENT SERVICE

Ibibo Group company PayU India today launched an online payment solution -- PayUPaisa-- wherein any individual or seller can create their own business page on its website and start selling the products. In order to safeguard buyers' interests, the company has various checkpoints to make online buying safe. "The product (PayUPaisa) is free for sellers and provides tools like webstore, storefront and email invoicing to them, while it has a dispute resolution centre to safeguard buyers and keep their money safe even when they have paid for a product," PayU India CEO and co-founder Nitin Gupta told reporters here. Gupta added when a buyer purchases some product from its webstore, the money is not released to the seller instantly but is kept at nodal bank account, which is mandated by RBI, for three days and after the seller sends a proof of delivery, the money is released into its account. The sellers don't have pay any upfront payment for the service and they are charge…

INDIA CAN ACHIEVE 7% GROWTH

India should be able to achieve an ambitious growth rate of over 7 per cent in 2014-15 and headwinds like elevated inflation and oil and gold prices are becoming 'tailwinds', Citigroup said today after hosting an investor roadshow of Finance Minister P Chidambaram in the US.
"The groundwork has been done (and) next blocks are in place. It's not going to be easy, but we think economy should get back on track and markets would likely follow," Citi Research said in a report after Chidambaram's address to institutional investors in Boston in the US last night.
"The direct communication with institutional investors builds on ongoing government reforms and follows similar meetings in Hong Kong in January. Strong attendance (almost 100 investors) highlights investor interest in India policy issues," the report said about the roadshow.
India is aiming for a material acceleration in growth, with targets of 6.1-6.7 per cent in the current fiscal 2013-14, over…

INVESTOR WEALTH ZOOMS BY 1 LAKH CRORES

Investor wealth today soared by over Rs 1 lakh crore helped by the BSE benchmark Sensex's nearly 390-point surge on hopes of a aggressive rate cut by RBI and expectations of a lower fiscal deficit on falling prices of crude oil and gold. The Sensex ended the day 387.13 points higher at 18,744.93 and the NSE's 50-share Nifty closed with a gain of 120.55 points at 5,688.95. Led by the rally in the stock market, the investor wealth soared by over Rs one lakh crore to Rs 64.24 lakh crore. Among the Sensex constituents, 27 ended up, with Maruti emerging as the biggest gainer with 4.23 per cent rise. Overall market breadth remained positive as 1,338 scrips finished higher while 1,022 counters ended lower. Among the BSE 13 sectoral indices, 11 settled with gains led by banking index. In the market 1,338 stocks advanced. "Markets have taken cheer from better than anticipated WPI inflation. Inflation is a keystone parameter and improvement in the same can have cascading positives …

DEVELOPERS ON THE PILE OF UNSOLD PROPERTIES

More than one-fourth of the total 5.2 lakh housing stocks being constructed in the national capital region (NCR) are unsold due to weak demand, according to property consultant Knight Frank. The NCR market witnessed about 31 per cent decline in the new home launches at 33,500 units during the second half of 2012-13 fiscal compared with the year-ago period, while sales fell by 12 per cent to 33,200 units in the review period. On housing prices, Knight Frank's latest report on the NCR residential market said that there has been a steady price appreciation in most of the micro-markets even though demand remained subdued in the NCR market. It attributed the rise in prices to increase in construction cost and investor demand. "Nearly 5,20,000 residential units are under various stages of construction in the NCR market...The NCR residential market has an estimated 1,40,000 units of unsold inventory which is approximately 27 per cent of the units under construction," Knight Fra…

INVESTMENT THROUGH P NOTES Rs. 1.64 LAKH CRORES

Foreign investments into Indian markets through participatory notes (P-Notes), a preferred route for HNIs and hedge funds, rose moderately to Rs 1.64 lakh crore (over USD 30 billion) in February. According to the latest data released by the Securities and Exchange Board of India (Sebi), the cumulative value of P-Note investments in Indian markets (equity, debt and derivatives) was at Rs 1,64,271 crore at the end of February. In January, P-Note investments in Indian markets was at Rs 1.62 lakh crore. P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds and other foreign institutions, allow them to invest in Indian markets through registered Foreign Institutional Investors (FIIs), while saving on time and costs associated with direct registrations. Notably, investments into Indian shares through P-Notes was at Rs 1.77 lakh crore in November and Rs 1.75 lakh crore in October on policy reform measures taken by the government and its initiatives to address tax-rel…

GOLDL REBOUNDS IN FUTURES TRADE

After hitting over 21-month low, gold prices rose over 1 per cent to Rs 25,906 per ten grams in futures trade today as speculators covered their short positions after it recovered partially in the global market. At the Multi Commodity Exchange, the most-active delivery in June contracts traded Rs 272, or 1.06 per cent higher at Rs 25,906 per ten gram after touching a low of Rs 25,270 in early trade, a level last seen in August 2011. It clocked a turnover of 42,553 lots. On similar lines, the metal for delivery in far-month August reversed initial losses to trade Rs 229, or 0.88 per cent, to Rs 26,330 per 10 gm in 1,245 lots. Market analysts said recovery in the global markets, as investors feel the fall was overdone and covering-up of short positions by speculators at prevailing levels, helped gold recover from 21-month low at futures trade here. Globally, gold recovered by USD 29.80, or 2.20 per cent to USD 1,382.40 per ounce in early trade in London. Meanwhile, t…

ANALYSTS VIEW ON GOLD PRICE MOVEMENT

బంగారం ధరల కదలికలపై అనలిస్ట్ ల కథనాలు

ASTRO PREDICTION ON GOLD

GOLD ETFs MAY FACE REDEMPTIONS

Amid liquidation of gold Exchange Traded Funds (ETF) in the global markets due to the ongoing fall in gold prices, fund houses today said redemption pressure will certainly rise if the price fall continues. They, however, argued that it would not be the end of the road for gold as an asset class and that the yellow metal is crucial for asset diverisification purpose, apart from the fact that nothing fundamentally has changed better for the global economy. "Gold ETFs have seen redemption pressure in the last fiscal in comparison to the 2007-2011 period. With a steep fall in gold prices, this presure may continue. However, there is less possibility of huge redemption as gold as an asset class remains important for portfolio diversification," senior vice-president and head of products and communication at ICICI Prudential M F Himanshu Pandya told PTI today. Gold prices hit a near 15-month low today in the country following reports of Cyprus being forced to sell its gold holding…

OIL FALLS BELOW $89 PER BARREL

The price of oil dropped to near USD 89 a barrel today, its lowest level since mid-December, as a slowdown in China's growth added to doubts about the strength of the world economy and global demand for crude. By early afternoon in Europe, benchmark crude for May delivery was down USD 2.28 to USD 89.01 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract fell USD 2.22 to USD 91.29. China's slowdown, weak economic reports from the US and Europe's malaise suggest demand for crude and refined fuels won't be strong enough to absorb the ample supplies on the world market, which is pushing down oil prices. The Chinese government today said growth in the world's second-largest economy slowed to 7.7 per cent in the first quarter from 7.9 per cent in the final quarter of last year. Growth was expected to accelerate slightly after several quarters of decline. "Poorer-than-expected data from China has fuelled…