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Showing posts from February, 2014

MINIMUM PENSION Rs.1000/- UNDER EPS-95

Government today approved the proposal to ensure Rs 1,000 minimum monthly pension under a scheme of retirement fund body EPFO that would immediately benefit 28 lakh pensioners. The decision to provide the entitlement under Employees' Pension Scheme-95, run by the Employees' Provident Fund Organisation, was taken by the Union Cabinet in its meeting held here. The move will immediately benefit about 28 lakh pensioners including five lakh widows. There are 44 lakh pensioners. Earlier this month the EPFO trustees had approved the proposal. The Central Board of Trustees (CBT), the apex decision making body of EPFO had met on February 5, and decided to amend the EPS-95 scheme for the purpose. The proposal was placed before the Union Cabinet for approval as the government had made funding provisions for it. The government would have to provide an additional amount of around Rs 1,217 crore to ensure the minimum pension of Rs 1,000 starting 2014-15. Pensioners will …

COPTER RIDE TO VAISHNODEVI COST Rs.2078

Global Vectra Helicorps and Himalayan Heli Services have been awarded contracts for carrying out helicopter operations between Katra and Sanjichhat in Reasi district of Jammu and Kashmir for the devotees who come to offer obeisance at Vaishno Devi Shrine from April 1. The selection was concluded after an elaborate exercise for evaluating bids, involving an expert from Directorate General of Civil Aviation, Shri Mata Vaishno Devi Shrine Board (SMVDSB) M K Bhandari said today. At present, the heli-operations are being carried out by Global Vectra and Pawan Hans Ltd, who were awarded three year contracts through a similar open tendering process in the year 2011, he said, adding, the present contracts are coming to close on March 31, 2014. Bhandari said the heli operations shall be conducted in terms of the contract and as per the approved norms of DGCA, ensuring against inconvenience to pilgrims travelling by this mode. The two Aviation Companies shall keep safety and s…

NO MONTHLY CAP ON LPG CYLINDER

After the government raised the annual quota of subsidised cooking gas, the Cabinet today allowed consumers to buy more than one subsidised cylinder in a month. The government had raised the annual cap on supply of cheaper LPG from nine to 12 cylinders of 14.2-kg each on January 30. It was inferred this meant one cylinder in a month. This led to protests as households do not uniformly use one cylinder in a month and some require refills earlier. The Oil Ministry yesterday moved a proposal for consideration of the Cabinet suggesting that consumers should have the freedom to book a refill after 21 days within the overall cap of 12 subsidised bottles in a year. Sources said the Cabinet headed by Prime Minister Manmohan Singh agreed with the proposal. Raising the cap from nine to 12 cylinders will impose an additional financial burden of about Rs 3,801 crore per annum, they said. The government had initially capped the supply of subsidised LPG cylinders to six per hous…

ANOTHER PETRO STAB

Petrol price was today hiked by 60 paise a litre, the second increase this year, and diesel by 50 paise per litre, the 14th hike since January 2013. The hikes, effective from midnight tonight, are excluding local sales tax or VAT and actual increase will be higher and will vary from city to city. Petrol price, which was last hiked by 91 paise on January 4, will cost Rs 73.16 a litre in Delhi from midnight tonight, up 73 paise from Rs 72.43 at present. In Mumbai, the fuel will cost Rs 82.07 a litre as against Rs 81.31 at present. The price of diesel in Delhi will be hiked by 57 paise, including tax, to Rs 55.48 per litre, while it will cost Rs 63.86 a litre in Mumbai as against Rs 63.23 at present. Announcing the price hike, Indian Oil Corp, the nation's largest fuel retailer, said petrol price has been hiked because international oil rates have risen and rupee depreciated against US dollar, making imports costlier. The diesel price increase is in line with the …

SUBRATA ROY ARRESTED

Sahara Chief Subrata Roy was arrested in Lucknow today, after evading for two days a non-bailable warrant issued by the Supreme Court for his failure to appear before it in a case of non-refund of Rs 20,000 crore to investors.
Capping a day of dramatic developments, 65-year old Roy surrendered before police this morning after calling them to Sahara Shaher.
"Roy has been arrested and will be produced in court later today," SP Trans-Gomti Habibul Hasan said. Senior advocate Ram Jethmalani told a Supreme Court bench headed by Justice K S Radhakrishnan that Roy is in police custody in Lucknow and pleaded for recall of NBW issued on February 26. He submitted that the special bench, which is hearing the case, should take up the application today itself. But, his plea was turned down as the judge said it is not possible for the special bench to assemble today.
The day started with Subrata Roy issuing a signed two-page statement, claiming he was not absconding…

HELIPAD DINNER @ BURZ AL ARAB

A once-in-a-life time dinner limited to 12 guests will be held atop the world's fourth tallest luxury hotel here to raise money for a UN food programme. The Burj Al Arab hotel in Dubai will host the dinner at its famous helipad, 212 metres above the ground, at nearly USD 2,722 per person. With seating limited to 12 guests, the dinner atop the Burj Al Arab helipad on March 13, will give all the proceeds to the 'Eat and Feed' initiative. The high table dinner is designed to raise money for the United Nations World Food Programme to provide food to more than 120,000 children for a day. "In addition to raising funds in a unique way, the High Table dinner also raises awareness of the great work being undertaken by the United Nations World Food Programme," said Laila Mohammed Suhail, CEO at Dubai Festivals and Retail Establishment. The dinner is scheduled to be the grand finale of the Dubai Food Festival. The dinner starts with a warm Arabian welcom…

NIFTY OUTLOOK FOR 3rd MARCH & REVIEW

CLOSING SUBDUED March derivative series started off on positive note with Nifty gaining about 0.50%. Short term bullish outlook  gets negated only if Nifty closes below 6200.. Nifty spot is expected to encounter resistance at 6315, 6350 and find support at 6235, 6200, for Monday. . While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to remain generally better in the forenoon and  could remain subdued in Second half , particularly towards close.

Nifty                               6277   +38
Review for Friday ::  IT and Pharma stocks  lead . .... !!
Market traded in a  narrow range with bullish bias and gained more than 0.50% for the day, gaining on all the Four days of the week. The week too ended with a gain of about 2%. 32 of Nifty stocks gained and broader market too was positive with Advance Decline ratio at 1.2 :1. Barring Energy and FMCG, all other indices gained led by Pharma, IT, A…

MODI HITS BACK @ CHIDAMBARAM

Those in power should act like trustees of public goods and not behave like owners.
- MAHATMA GANDHI 

Hitting back at Finance Minister P Chidambaram for his postage stamp barb, BJP's prime ministerial candidate Narendra Modi today said his economic knowledge can be confined to one word, which is "trustee." "My knowledge about finance and economy will not occupy even a postage stamp. My whole knowledge can be confined to one word, that is trustee," he said, recalling Mahatma Gandhi's concept of trusteeship. Modi, who invoked the Father of the Nation several times in his hour-long speech at a seminar on new growth paradigm, said that according to the concept of trusteeship propounded by Gandhiji, those in power should act like trustees of public goods and not behave like owners. Admitting that he lacks the knowledge confined in books, Modi said he can always hire those who are well-versed with economic issues. Modi was commenting on remarks made…

eCOMMERCE INDUSTRY HAIL MODI

Prominent players in the-commerce space have welcomed BJP's Prime Ministerial candidate Narendra Modi's stance for pushing for the use of technology in retail. CEO of Smile Group Harish Bahl said: "We have been appealing to the government to create the right policies for growth of the E-commerce industry, which will enable access to foreign capital and allow us to source at scale from small and medium businesses from across the country." "While we still await some decision from the current government, we are hopeful and very happy to Modi articulate our views on the subject and thankful for his support". Modi made a strong pitch here today for usage of technology to boost commercial activities in the country and to overcome the fear of global challenges. "Technology will further push the growth of the retail sector and not dislodge it and Modi has put this in the correct perspective. The restriction on the entry of foreign direct inves…

RURAL CONSUMER SPENDING ON RISE

Divergence between rural and urban India continues to widen, with rural population's spending capacity remaining higher than their urban peers in almost all categories of spending, says a report. "Rural consumers are spending more, and penetration gaps between urban and rural consumers for discretionary items such as automobiles, branded goods and even monthly outgo on mobile connection have come down," said Credit Suisse in a report titled 'India consumer survey 2014'. The report further said despite the higher growth in spending in rural areas, the fall in savings rate is more drastic in urban areas, showing the effect of lower income increase and higher inflation on urban consumers. The survey also highlighted that more rural people saw their incomes increase last year and even more expect this trend to continue this year. According to the survey, the declining trend of consumer optimism observed in the last two years shows some signs of impr…

PRE ELECTION RALLY IN INDIAN MARKET

SENSEX TO TOUCH 22000 BEFORE ELECTION The Sensex may hit 22,000 level before the general elections on hopes that a stable government at the Centre after polls will be able to unleash strong measures to revive economic growth, experts have said. The 30-stock index is 496.75 points away from its all- time peak of 21,483.74 hit on December 9, 2013. "Stock markets are in an uptrend mode currently. Markets are in the process of witnessing pre-election rally. A clear mandate would be favourable for equities and it is likely that Sensex will touch 22,000 before elections," said Paras Bothra, Research Head, Ashika Stock Brokers. The Bombay Stock Exchange (BSE) Sensex and the NSE Nifty hit all-time high of 21,483.74 and 6,415.25 points, respectively, on December 9, after the Bharatiya Janata Party's good show in recent assembly elections. "Elections are very important event for the markets. If a stable government comes to power, markets are likely to scale n…

MUTUAL FUNDS GARNER 1.6 LAKH CRORES

Investors have pumped in more than Rs 1.6 lakh crore in various mutual fund schemes in the first ten months of the ongoing financial year, more than double the amount infused by them in entire 2012-13 fiscal. According to industry experts, fund mobilisation in mutual fund schemes is expected to further grow as regulator Sebi has recently cleared its first ever long-term policy for the industry, proposing a number of tax benefits and measures for growth of this business. The policy is aimed at channelising household savings into equities and mutual funds. As per the latest data available with Sebi, there was a net inflow of Rs 1,59,631 crore during the 2013-14 fiscal (April-January) as against over Rs 76,000 crore in the preceding fiscal. Prior to that, a net amount of more than Rs 22,000 crore and over Rs 49,000 crore moved out of the mutual funds' kitty during 2011-12 and 2010-11, respectively. Mutual funds pool together money from many investors and invest it o…

Govt. TO PAY 50% PREMIUM FOR AUTO & TAXI DRIVERS

The government today extended health insurance support to auto and taxi drivers by committing to pay half of the premium amount under Rashtriya Swasthya Bima Yojna, which provides smart-card based cashless health insurance cover. Oscar Fernandes, Minister for Road Transport and Highways, said the Rashtriya Swasthya Bima Yojna (RSBY) scheme will address the health concerns of auto rickshaw drivers and taxi drivers, who form an important and vulnerable segment of the unorganised workers in urban areas. Under the scheme, auto and taxi drivers have to contribute 50 per cent of premium for the Rashtriya Swasthya Bima Yojna, as applicable in that district, in addition to Rs 30 as registration fee, an official statement from the Road Ministry said. The balance 50 per cent of premium would be shared by the Central and State Government i.e. 25 per cent each. The nodal officer from Ministry of Road Transport and Highways for the scheme has been nominated, an official statement…

UPA SCORE

HOUSING DEMAND VERY WEAK IN H2

Housing demand remained weak in the second half of 2013 due to high prices and steep interest rates coupled with slow economic growth, according to global property consultant CBRE. "A slowing economic growth, coupled with high property prices and steep interest rates, resulted in weak demand for housing during the second half of 2013," CBRE said in a statement. In its bi-annual India Residential Market View report for H2 2013, CBRE said high vacancy level and rising construction cost led to a slowdown in construction activity, leading to a decline in new launches, and further delay in project completion timelines. Commenting on the report, CBRE South Asia Chairman and Managing Director Anshuman Magazine said: "Home buyer sentiments remained cautious and subdued due to high price points, with preferences shifting to secondary and emerging micro-markets of leading cities." On the outlook, he felt that housing demand in the high-end and mid-end, as w…

EPFO TO ISSUE UNIVERSAL ACCOUNT NUMBERS

Retirement fund body EPFO has asked its field staff to clean up records as it plans to issue universal (permanent) account numbers soon to its over 5 crore subscribers. The account number will help those workers in organised sector workers who frequently change jobs, particularly in the construction sector. It will help them to avoid filing claims for transfer of PF accounts on change of job. "EPFO is going to soon roll out universal account numbers for its members," state the minutes of the recent meeting of high ups of the the Employees' Provident Fund Organisation chaired by its Central Provident Commissioner K K Jalan. The number will help reduce the workload of the EPFO to a great extent. Every year, EPFO receives over 12 lakh claims for transfer of provident fund account on changing jobs by its subscribers. A subscriber with permanent account number, would not be issued new PF account number on joining new employer. Jalan said at the meeting that …

HYDERABAD PROPERTY MARKET ON RISE

Despite Telangana issue, the Housing Sentiment Index (HSI) for Hyderabad increased by 22 per cent to 101 points during the October-December quarter, breaking a largely negative streak to end close to neutral, according to an assessment by IIM Bangalore and Magicbricks. The IIMB MB HSI is a sentiment index of the Indian real estate market that aims to capture buyer 'mood' and indicates residential real estate market performance. "Hyderabad, which fell sharply last quarter (July- September), bounced back by 21 per cent amidst concerns over the Telangana issue. North and East Hyderabad posted positive sentiment this quarter with Hyderabad HSI coming in at 101. South Hyderabad also saw an increase of 24 per cent in HSI although still ending below 100 (HSI 91)," the report said. The report further said that 91 per cent of residents in Mumbai intend to purchase flats (HSI 83), 30 per cent of residents in Chennai intend to purchase land (HSI 100) while 34 p…

NSE LAUNCHES VOLATILITY INDEX

To help investors hedge near-term volatility risks in their equity portfolio, the National Stock Exchange today launched its futures contracts on India VIX (volatility index) called 'NVIX'. India VIX is a volatility index based on the index options prices of Nifty. "Volatility is a different risk class. It has a tremendous potential as every one has to deal with volatility. Anyone who has a portfolio, one who needs to hedge the portfolio for volatility...it could be for institutional or high networth individuals (HNI). It is a broad base usage of this product," NSE MD & CEO Chitra Ramkrishna said after the launch. Uncertainty is for everyone. This product will help in hedging uncertainty. We expect very good broad-based participation in this product, Ramkrishna added. NSE is aiming to tap into domestic institutional investor demand for equity futures and options.
The NSE, which constructed India VIX, started disseminating India VIX index in 2009…

PAY HIKE ONLY 10%

India Inc is expected to dole out a 10 per cent salary increase in 2014, the lowest in five years, according to a survey by Aon Hewitt. In 2013, the average salary increase was 10.2 per cent while in 2009, it was 6.6 per cent. According to the global human resource solution provider, the average salary increase for 2014 as projected by over 500 organisations in India stood at 10 per cent, with a range of 8.8 per cent to 12 per cent across industries. The years 2012-14 are witnessing a sort of "plateauing" in salary increases as compared to the high double-digit increases in the last decade, according to the report. "This period reflects the easing off of the unsustainable, turbo-charged, pre-crisis economic growth. Even though growth appears to be strengthening in both advanced and developing economies, it is expected to be muted and slower paced than in the pre-2008 era," Aon Hewitt India Rewards Consulting Practice Leader Anandorup Ghose said. …

LOW PENETRATION OF CREDIT CARDS IN KERALA

The penetration of credit cards and personal loans is very low in Kerala and the state has a huge untapped potential in the sector, according to data released from the Credit Information Bureau (India). Forty six per cent of credit seekers in Kerala are less than 35 years of age. The state also has the highest number of credit applicants who are over 45 years of age. It also has a very high penetration of auto and two-wheeler loans, CIBIL Managing Director Arun Thukral told reporters here. Karnataka has the youngest population with 66 per cent of credit applicants younger than 35 years of age, he added. The number of applications for new credit has been on a steady rise and there has been a 150 per cent increase since 2010, says CIBIL data. This increase in the number of new credit applications and loans booked indicate an increased demand for credit and a bounce back by lending institutions in sanctioning new credit after the 2008 downturn. About 21 per cent borrow…

NIFTY OUTLOOK FOR 27th & REVIEW

GENERAL BEARISHNESS Nifty closed at the highest level for the day and  the  Derivative series and closed well above 6200 level. While short term trend is bullish, there is strong resistance around 6250 level and support around 6125. Nifty spot is expected to encounter resistance at 6275, 6310 and find support at 6200, 6160, for Friday. . While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to witness volatile movements and caution is advised at higher levels in view of the decent run up recently as general bearishness is expected..
Nifty                               6239   +39
Review for Wednesday  ::  Short Covering Pushes up Index. .... !!
Short covering coupled with value buying in some scrips pushed up indices and February derivative  series closed at the highest level with a gain of more than 2.50% for the series. Barring Metal and Realty all other indices led by FMCG, Pharma, Auto, B…

HYDERABAD...LEAST EXPENSIVE OFFICE SPACE MARKET

Hyderabad has become the world's most affordable office locations due to rupee depreciation and fall in rentals amid political instability over Telangana, according to global realty consultant DTZ. Four other Indian cities -- Chennai, Pune, Bangalore and Kolkata –-- figure in the DTZ's list of top 10 least expensive office space market in the world. "Devaluation of the Indian rupee in combination with declining rents led to Hyderabad overtaking Surabaya (Indonesia) as the least expensive market in 2013," DTZ said in a report. The consultant has released the 17th edition of the Global Occupancy Costs – Offices, which presents outlook and analysis of the costs of occupying prime office space across 138 markets worldwide. Chennai retains its position as the world’s third least expensive office space market. Pune and Bangalore occupy fourth and fifth position respectively. "At occupancy costs below USD 3,000 per workstation per year in 2013, our l…

SEBI PROPOSES MONITORING AGENCY FOR IPO FUNDS

To check possible misuse of money raised through public offers, Sebi today proposed to make it mandatory for all companies to appoint a 'Monitoring Agency' to oversee orderly utilisation of such funds and to make public their observations on a quarterly basis. Under the new framework, the Monitoring Agency Report would also need to list out all deviations from the fund utilisation objectives stated by the company at the time of public offer, as also the comments from their management and auditors on such matters. The Monitoring Agency, which can be a public financial institution or a scheduled commercial bank, would also grade the deviations observed in the utilisation of public offer proceeds, which their reports need to be made public through stock exchanges within 45 days of the end of every quarter.
Inviting public comments on these new norms by March 25, Sebi said necessary amendments would be made in the existing regulatory framework to bring about pro…

NIFTY OUTLOOK FOR 26th & REVIEW

SCRIP SPECIFIC MOVEMENTS... CAUTION @ HIGHER LEVELS Nifty continues its gains and closed at 6200 mark. Thursday, being derivative expiry day, scrip specific movements can be expected. . Nifty spot is expected to encounter resistance at 6240, 6275 and find support at 6160, 6125, for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to witness volatile movements and caution is advised at higher levels in view of the decent run up recently. Being last day of derivative expiry, scrip specific movements can be expected.

Nifty                               6200   +14
Review for Tuesday  :  Zigzag Movement with Bullis Bias. .... !!
Market traded in a zigzag fashion with bullish bias and Nifty closed at 6200 mark with a gain of 0.25%. 25 of Nifty stocks gained and broader market was marginally bearish with Declines outnumbering
Advances. IT, Media, Auto and FMCG indices gained while …

MOZILLA PLANS SMART PHONE @ Rs.1500

Technology firm Mozilla has showcased a smartphone prototype for developing countries, which could cost as less as USD 25 (about Rs 1,500).
The company, which runs the Firefox browser, has partnered with Chinese low-cost chip maker Spreadtrum.
"In 2014, we are differentiating our user experience and our partners are growing the portfolio of devices. We are also enabling a whole new category of smartphone, priced around USD 25, that will bring even more people around the world online," Mozilla Chief Operating Officer Jay Sullivan said.
Firefox OS devices are the first devices built entirely to open Web standards, with every feature developed as an HTML5 application. "We launched our first smartphones in July, and have since expanded into 15 markets. People in Latin America and Eastern Europe have eagerly upgraded from their feature phones to Firefox OS smartphones. Sales have far exceeded our targets. But 2013 was just the beginning," Sullivan said. The devices from…

SAMSUNG UNVIELS SMART CAMERAS

Korean electronics major Samsung today unveiled a new range of smart cameras with advanced NFC and Wi-Fi capabilities priced in the range of Rs 12,490-21,290 for the Indian market.
The cameras come pre-loaded with suite of standard Smart Mode and Smart Auto Mode features, which allows the user to capture photographs with an unparallelled level of customisation and functionality, Samsung said in a release.
Smart Mode allows for a number of different customisation and personalisation settings, while Smart Auto analyses shooting environments and selects the most optimal settings for any situation, it added.
"The new line-up includes the WB35F, WB50F, WB350F and WB1100F offering superb image quality and next-generation sharing capability, offering photographers of all abilities a great way to capture and share their world," it said.
Besides, the brand new Tag & Go feature takes sharing seamlessly connects the cameras with smartphones by touching the …

ONLINE RETAILING TO TRIPLE IN 3 YEARS

Online retailing, both direct and through marketplaces, is expected to become a Rs 50,000 crore industry by 2016, growing at a whopping 50-55 per cent annually over the next three years, according to Crisil Research. The segment has been growing in India, with revenues surging from around Rs 1,500 crore in 2007-08 to an estimated Rs 13,900 crore in 2012-13, or a annual growth rate of 56 per cent, Crisil Research said in a report. Yet the sector still remains a nascent portion of the overall e-commerce segment in the country where the travel business dominates with about two-thirds share, it said. However, it said, the scenerio is changing fast to pose a threat to brick-and-mortar retailers, not just of books, music and electronics, but also apparel and grocery. "From around eight per cent share of the organised retail market in India now, online retailing will zoom to around 18 per cent by 2016. But as a proportion of overall retail, including the massive unorga…

PE INVESTMENTS IN REALTY UP

Private equity investment in the real estate sector increased by 13 per cent to Rs 7,000 crore last year on higher inflows in the residential segment, global property consultant Cushman & Wakefield said. "Total inflows from private equity funds in the real estate sector for 2013 was recorded at Rs 7,000 crore (USD 1.2 billion), an increase of 13 per cent compared to 2012 (Rs 6,200 crore/USD 1.1 billion)," C&W said in a statement. Overall private equity investments across sectors in India have also increased by 11 per cent to USD 10.5 billion in 2013 from USD 9.49 billion in 2012. The consultant attributed the increase in private equity inflows to "rising investments in residential assets and other sectors like retail and hospitality". The total PE investments in the housing segment for 2013 was recorded at Rs 4,050 crore (USD 650 million), an increase of 42 per cent compared to 2012 levels. While the number of deals has increased to 40 last year, compared t…

TRAINING FOR WOMEN TO BECOME DIRECTORS

With the Union government making it mandatory for all listed companies to have a woman director on their board from this year, industry body CII's Kerala unit and Institute of Directors will be organising a three day training course to equip women for the position here. "Over a period of next two years, we will need hundreds of qualified trained women to serve as directors on the board of listed companies in the state," CII Kerala state council Chairman and Managing Director of Geojit BNP Paribas Financial Services C J George told reporters here. As per the new Companies Act every listed company should have a woman director. This will become mandatory from this financial year starting April.
CII with Indian Women Network (IWM) and Institute of Directors will organise the programme for senior women professionals to become board members. After the training, certificates would also be issued to the women, he said.
As far as women empowerment is concern…

ANDROID SMART PHONES FROM NOKIA

Targeted at fast growing low-cost smartphone markets like India, Nokia today launched the much anticipated Android-based smartphones starting at euro 89 (about Rs 7,600).
The company introduced three smartphones, based on a modified version of the Android, called Android open source project (AOSP), for the X series.
"The X range of phones is targeted at the growth markets where low-cost smartphones are growing at over four times," Nokia's Devices and Services Executive Vice President Stephen Elop told reporters here.
Nokia's X range of smartphones run Android applications, Microsoft services and signature Nokia experiences like Here maps. The X model will be available immediately for euro 89 excluding taxes. The other two models - X+ and XL - will be available in early second quarter for euro 99 and euro 109 respectively, Elop added.
Nokia X comes with a 4 inch screen and 3MP camera whereas XL has a 5 inch screen and 5 MP camera.
It is for…

SOUTH INDIA's LARGEST INDUSTRIAL LAUNDRY LAUNCHED

Magnamind Ventures, promoted by a group of UAE-based professionals, opened Kerala's first large scale industrial laundry at KINFRA's Small Industries Park in Nellad, near Muvattupuzha in Ernakulam district. The 15-tonnes-per-day integrated laundry is also the largest of its kind in south India. The 20,000-sq-ft laundry complex, equipped with modern imported machinery, would mainly cater to the long standing demands of Kerala's bourgeoning hospitality industry in and around Kochi, Munnar and Kumarakom.
According to a recent study, these three tourist hotspots alone account for 40 tonnes of dirty linen every day. Magnamind Ventures will also pioneer into linen rentals for the first time in the country, a practice prevalent in the West. The company also has a retail division, which will have collection points initially in Kochi and Thrissur.
This will be spread to other parts of the region in the very near future. These outlets are intended to serve household cu…

SAMSUNG LAUNCHES GEAR 2 NEW VERSION

Samsung launched today a new smart watch, the Gear 2, after a first version won over few critics, adding new features and ditching Google's Android in favour of its own operating system. The South Korean electronics giant revealed the new watch in an unexpected announcement on the eve of the February 24-27 Mobile World Conference in Barcelona, Spain. Samsung is unveiling tomorrow its new flagship smartphone, almost certainly the Galaxy S5, and it had been expected to show off the new watch at the same time. Besides an array of features including sports tracking software and a heart rate monitor, the Gear 2 marks an important and widely rumoured step towards independence from Android. The watch, available in two models -- the Gear 2 and the Gear 2 Neo, which has no camera -- will be powered by the Tizen operating system developed by Samsung with various partners to break free of the Android dominance. Android powered 78.4 percent of smartphones worldwide last yea…

ASIAN WEALTH TRIPLES

Financial wealth in Asia has more than tripled since 2001 to over USD 80 trillion and if the current trend persists the growth will be even faster in India than in China. According to HSBC, Asia excluding Japan is rapidly catching up with the United States and assuming that current trends persist, emerging Asia should surpass the United States by 2015.
Asia, including Japan, has more than tripled its financial wealth since 2001 to just over USD 80 trillion, the financial major said. The calculations were done by adding the value of bonds and stocks to broad money supply and stripping out net foreign holdings, HSBC said.
Country-wise, Japan and China clearly account for the largest chunk in Asia. India, meanwhile, might have had a stronger showing last year if it wasn't for the slide of its currency over the previous 12 months, HSBC said.
According to the report, China, could add some USD 25 trillion by 2018 and with this it will comfortably exceed Japan's increase in financial…

ASTRO TECHNICAL GUIDE FOR NIFTY

BULLISH BIAS...General outlook for the week (24.02.2014 to 28.02.2014)
Planetary Position ::  During the current week Moon would be
transiting  from Moola in Sagittarius  to Dhanishta  in Aquarius.  Sun transits in Sathabhisham in Aquarius .  Mercury transits in Retrograde motion till 28th February and presently  in Dhanishta in    Capricorn . Mars  transits in   Chitta constellation in Libra.    Saturn continues in Visakha  constellation in  Gemini navamsa in slow motion ahead of getting retrograde.  Jupiter transits in Retrograde motion (till 6th March 2014)  in Gemini and presently   in  Aquarius Navamsa .  Venus transits in Sagittarius and Capricorn in d Uttarashadha constellation.  Mars and Saturn would get into Retrograde motion from 1st  week of  March. In view of these retrograde motions, market might not be able to have proper trend. As Mercury is in retrograde motion, it presages dual movement and unauthentic statistics and unreliable decisions and information. Further, Jupi…