New Delhi: Iraq is emerging as a new market for Indian basmati as exports of the aromatic rice have picked up in the post-Saddam era. Exporters are bullish on the prospects and hope to double shipments to about 2.5 lakh tonnes in the current financial year.
“People are shifting to quality products due to the openness in the system in the post-dictatorial era. This is resulting in increased demand for the quality Indian rice,” said Mr Vijay Sethia, President of the All-India Rice Exporters Association.
Basmati exports to Iraq in 2010-11 were around 1.25 lakh tonnes, estimates Mr Sethia. Of this, direct exports were about 31,239 tonnes, while the rest was shipped indirectly through Dubai. “Now the direct exports have picked up and we hope to do a total of around 2.5 lakh tonnes this year,” he said.
Iraq accounts for a fraction of the country's total basmati consignments. Neighbouring Iran is the largest buyer of Indian aromatic rice and shipments stood at close a million tonnes last year. However, the recent instances of payment defaults from Iran could possibly hamper the volumes this year even though exporters have welcomed the Government's recent move to allow opening of letter of credits in rupee terms.
Mr Sethia said the recent reduction of minimum export price (MEP) on basmati to $700 from $900 per tonne should aid the shipments. In the current fiscal, the Indian basmati exports could touch 2.5 million tonnes, up from 2.18 mt in the previous year, he said.
The reduction in MEP will also aid the shipments of par-boiled and unpolished basmati rice, which are relatively less priced, Mr Sethia said. Europe mainly prefers the unpolished rice, while the par-boiled or semi-processed rice is exported to Saudi Arabia.
Success in my Habit
Showing posts with label SUKUMARBALAKRISHNAN. Show all posts
Showing posts with label SUKUMARBALAKRISHNAN. Show all posts
Tuesday, February 14, 2012
Thursday, February 9, 2012
Tulip sets up Rs 900-cr data centre
Bangalore: Enterprise data services company Tulip Telecom has established a 9 lakh sq ft data centre ‘Tulip Data City' here, the world's third largest data centre, at a total investment of Rs 900 crore.
“The company has made an immediate investment of Rs 230 crore and has secured loans for Rs 50 crore from leading banks,” Lt Col H.S. Bedi, Chairman and Managing Director of Tulip Telecom, said. The company is planning to raise another Rs 250 crore through debt, Rs 250 crore through equity and will fund the rest using internal accruals, he added.
“We might also look at strategic partners for the business,” he added. With more companies moving to professional data centres for their storage needs, the telecom company expects the entire facility to be occupied in three years.
Rs 600-cr orders
Tulip Data City, the 100 per cent subsidiary data centre of Tulip Telecom, currently has orders worth Rs 600 crore from IBM, NTT and HP.
“About 20 per cent of the data centre has already been booked by three customers and we expect it to be fully contracted in three years,” Lt Col Bedi said. Tulip Data City expects to earn revenues of Rs 1,000 crore once the data centre is fully operational.
The facility was inaugurated by Mr Sachin Pilot, Minister of State for Communications and IT. “The future will be decided based on who owns the data, and currently, a large part of our data is owned outside India… so it is extremely important to have a data centre here,” Mr Pilot said after the inauguration.
Tulip Data City is Tulip Telecom's fifth data centre and Lt Col Bedi said that once this centre takes off, the company could consider bringing other data centres under this. The servers at Tulip Data City consume about 100 MW of power in peak but it is still lower than where the servers were earlier used where they consumer about 130 MW power, Lt Col Bedi said.
The company draws 20 MW from the Bangalore Electricity and Supply and Company and is planning to source the remaining power from other entities, he said.
“The company has made an immediate investment of Rs 230 crore and has secured loans for Rs 50 crore from leading banks,” Lt Col H.S. Bedi, Chairman and Managing Director of Tulip Telecom, said. The company is planning to raise another Rs 250 crore through debt, Rs 250 crore through equity and will fund the rest using internal accruals, he added.
“We might also look at strategic partners for the business,” he added. With more companies moving to professional data centres for their storage needs, the telecom company expects the entire facility to be occupied in three years.
Rs 600-cr orders
Tulip Data City, the 100 per cent subsidiary data centre of Tulip Telecom, currently has orders worth Rs 600 crore from IBM, NTT and HP.
“About 20 per cent of the data centre has already been booked by three customers and we expect it to be fully contracted in three years,” Lt Col Bedi said. Tulip Data City expects to earn revenues of Rs 1,000 crore once the data centre is fully operational.
The facility was inaugurated by Mr Sachin Pilot, Minister of State for Communications and IT. “The future will be decided based on who owns the data, and currently, a large part of our data is owned outside India… so it is extremely important to have a data centre here,” Mr Pilot said after the inauguration.
Tulip Data City is Tulip Telecom's fifth data centre and Lt Col Bedi said that once this centre takes off, the company could consider bringing other data centres under this. The servers at Tulip Data City consume about 100 MW of power in peak but it is still lower than where the servers were earlier used where they consumer about 130 MW power, Lt Col Bedi said.
The company draws 20 MW from the Bangalore Electricity and Supply and Company and is planning to source the remaining power from other entities, he said.
TCS inks multi-million euro deal with car rental co Europcar
Mumbai: Tata Consultancy Services said it has signed a multi-year, multi-million euro contract with Europcar, a car rental company in Europe.
The European company's IT subsidiary Europcar Information Services has selected TCS to manage IT services development for its French operations, said a statement from the Indian company. TCS did not specify the exact size of the deal.
For TCS, this strengthens its presence in France and marks expansion of its travel, transportation and hospitality industry unit, said the statement. This unit has over 4,000 consultants and works with over 50 customers worldwide.
Mr Kumar Narayanan, Director and Country Head of TCS France, said, “This partnership with Europcar is part of the development of a strategic relationship with industry leading companies in France.”
TCS said it provides services to over 20 French companies, a majority of which are part of the CAC 40 Index. Its stock gained by over 2 per cent on the BSE, to end at Rs 1,191.95 on Monday.
The European company's IT subsidiary Europcar Information Services has selected TCS to manage IT services development for its French operations, said a statement from the Indian company. TCS did not specify the exact size of the deal.
For TCS, this strengthens its presence in France and marks expansion of its travel, transportation and hospitality industry unit, said the statement. This unit has over 4,000 consultants and works with over 50 customers worldwide.
Mr Kumar Narayanan, Director and Country Head of TCS France, said, “This partnership with Europcar is part of the development of a strategic relationship with industry leading companies in France.”
TCS said it provides services to over 20 French companies, a majority of which are part of the CAC 40 Index. Its stock gained by over 2 per cent on the BSE, to end at Rs 1,191.95 on Monday.
Saturday, February 4, 2012
Maruti Suzuki yet to firm up land requirement for Gujarat plant
The country's largest car-maker Maruti Suzuki is yet to firm up the land requirement for its proposed new manufacturing plant in Gujarat.
"We do have plans to go to Gujarat and preliminary talks have been already held with the state government. But nothing has been decided on when and how much land will be acquired there," Managing Executive Officer (Engineering) of Maruti Suzuki I V Rao told reporters here today.
He said that the idea behind the Gujarat plant was to serve export markets through the Mundra port.
"The matter has not been placed before the board for approval yet," Rao said at the launch of new Swift Dzire sedan here.
Rao said the Gujarat idea was floated in May, 2011, when the industry was growing at a healthy rate of 18 per cent.
But with the slowdown in car sales subsequently, no progress had been made in this regard, he said.
With SIAM predicting annual growth of 10 per cent in the automobile segment next few years, the Gurgaon and Manesar plants would suffice to meet the demand.
Post completion of the third plant at Manesar, Maruti's annual production capacity would touch 1.75 million units.
He said that steps were also being taken to reduce the waiting period for diesel cars by increasing production.
"We do have plans to go to Gujarat and preliminary talks have been already held with the state government. But nothing has been decided on when and how much land will be acquired there," Managing Executive Officer (Engineering) of Maruti Suzuki I V Rao told reporters here today.
He said that the idea behind the Gujarat plant was to serve export markets through the Mundra port.
"The matter has not been placed before the board for approval yet," Rao said at the launch of new Swift Dzire sedan here.
Rao said the Gujarat idea was floated in May, 2011, when the industry was growing at a healthy rate of 18 per cent.
But with the slowdown in car sales subsequently, no progress had been made in this regard, he said.
With SIAM predicting annual growth of 10 per cent in the automobile segment next few years, the Gurgaon and Manesar plants would suffice to meet the demand.
Post completion of the third plant at Manesar, Maruti's annual production capacity would touch 1.75 million units.
He said that steps were also being taken to reduce the waiting period for diesel cars by increasing production.
Welspun Group's bid for Vizhinjam Port to be opened on Monday
The Kerala state government will open the bid submitted by the consortium led by Welspun group on Monday to decide the operator for the country's deepest port, when operational.
"The bids will be opened on Monday and the International Finance corporation will ascertain the bid. Then it would be sent to the empowered committee for final approval", said a senior officials of the port.
Welspun is the lone bidder for the project after Adani ports were rejected security clearance by the home ministry in January. In recent times, the cost of developing the port rose by as much as 60% due to escalating land and infrastructure costs.
The port, planned as a container transshipment hub with a capacity to handle 4.1 million TEUs a year, will be built on the landlord model, where the state government will set up the infrastructure and invite an operator to run the port.
While the Kerala government will raise Rs 800 crore through a bond issue, developer VizhinjamInternational has engaged SBI Caps to mop up Rs 800 crore from leading financial institutions such as HUDCO and LIC.
Besides, a consortium led by State Bank of Travancore will bring in Rs 300 crore while the state government has allowed a budgetary allocation of Rs 250 crore every year.
Until 2010, the state government made two unsuccessful attempts to develop the port and bids were invited for developing the entire port project.
In 2006, a consortium of infrastructure firms led by Mumbai-based Zoom developers and three Chinese companies were picked by the state to develop the port.
While the central government rejected Zoom's bid on security grounds, the state government later appointed Hyderabad-based Lanco Infratech to develop the port, but it withdrew from the project after Zoom filed a petition at the Supreme Court challenging the decision.
"The bids will be opened on Monday and the International Finance corporation will ascertain the bid. Then it would be sent to the empowered committee for final approval", said a senior officials of the port.
Welspun is the lone bidder for the project after Adani ports were rejected security clearance by the home ministry in January. In recent times, the cost of developing the port rose by as much as 60% due to escalating land and infrastructure costs.
The port, planned as a container transshipment hub with a capacity to handle 4.1 million TEUs a year, will be built on the landlord model, where the state government will set up the infrastructure and invite an operator to run the port.
While the Kerala government will raise Rs 800 crore through a bond issue, developer VizhinjamInternational has engaged SBI Caps to mop up Rs 800 crore from leading financial institutions such as HUDCO and LIC.
Besides, a consortium led by State Bank of Travancore will bring in Rs 300 crore while the state government has allowed a budgetary allocation of Rs 250 crore every year.
Until 2010, the state government made two unsuccessful attempts to develop the port and bids were invited for developing the entire port project.
In 2006, a consortium of infrastructure firms led by Mumbai-based Zoom developers and three Chinese companies were picked by the state to develop the port.
While the central government rejected Zoom's bid on security grounds, the state government later appointed Hyderabad-based Lanco Infratech to develop the port, but it withdrew from the project after Zoom filed a petition at the Supreme Court challenging the decision.
Wednesday, January 25, 2012
Amul to hot up frozen yogurt market
VADODARA: Dairy major Amul is now eyeing the growing frozen yogurt market in the country. The Gujarat Cooperative Milk Marketing Federation (GCMMF) that markets brand Amul has launched frozen yogurt - a first-of-its-kind product offering from Amul's basket. Frozen yogurt, a tangy combination of ice-cream with probiotic yogurt, is a globally established category.
Amul's move comes at a time when a string of frozen yogurt chains are entering the country riding on the healthier , guilt-free dessert plank creating a space within the traditional ice-cream market.
If US-based yogurt brand Red Mango has made a debut in the Indian market this month following the Canadian yogurt chain Kiwi Kiss, which had forayed in the Indian market last year, Singapore-headquartered yogurt brand Berrylite is firming up its plans to open outlets soon.
But home-grown Amul is set to give these brands a run for their money as it plans to launch the new product across 70,000 outlets across the country in the first week of February against nearly 40 outlets managed by the international brands. India's organized ice-cream market is estimated at Rs 1,200 crore and Amul currently commands 40% market share.
With the launch of this new product under the brand name - Amul Flaavyo - Amul wants to revolutionize the ice-cream market while becoming the "first mover" in this new category among Indian companies. "We are expecting that the frozen yogurt highway would account for 5% of total ice-cream sales," GCMMF's managing director R S Sodhi told reporters.
"As many are becoming health conscious, the market for frozen yoghurt is going to grow. We estimate that it would expand the market by increasing customer base. Essentially it would not only convert non-consumers of icecream into eaters but also increase frequency of ice-cream consumption," Sodhi said.
The Amul frozen yoghurt is presently available at select Amul scooping parlours. Amul has a chain of 500 scooping parlours across the country. Initially, the dairy giant has introduced the product at its scooping parlours at Rs 35 per scoop (against Rs 100 per scoop charged by international brands).
"In February first week, we will launch consumer packs across the country while making Amul Flaavyo Frozen Yogurt available in smaller packs in two flavours - mango and strawberry," Sodhi said.
Amul's move comes at a time when a string of frozen yogurt chains are entering the country riding on the healthier , guilt-free dessert plank creating a space within the traditional ice-cream market.
If US-based yogurt brand Red Mango has made a debut in the Indian market this month following the Canadian yogurt chain Kiwi Kiss, which had forayed in the Indian market last year, Singapore-headquartered yogurt brand Berrylite is firming up its plans to open outlets soon.
But home-grown Amul is set to give these brands a run for their money as it plans to launch the new product across 70,000 outlets across the country in the first week of February against nearly 40 outlets managed by the international brands. India's organized ice-cream market is estimated at Rs 1,200 crore and Amul currently commands 40% market share.
With the launch of this new product under the brand name - Amul Flaavyo - Amul wants to revolutionize the ice-cream market while becoming the "first mover" in this new category among Indian companies. "We are expecting that the frozen yogurt highway would account for 5% of total ice-cream sales," GCMMF's managing director R S Sodhi told reporters.
"As many are becoming health conscious, the market for frozen yoghurt is going to grow. We estimate that it would expand the market by increasing customer base. Essentially it would not only convert non-consumers of icecream into eaters but also increase frequency of ice-cream consumption," Sodhi said.
The Amul frozen yoghurt is presently available at select Amul scooping parlours. Amul has a chain of 500 scooping parlours across the country. Initially, the dairy giant has introduced the product at its scooping parlours at Rs 35 per scoop (against Rs 100 per scoop charged by international brands).
"In February first week, we will launch consumer packs across the country while making Amul Flaavyo Frozen Yogurt available in smaller packs in two flavours - mango and strawberry," Sodhi said.
MandhanaIndustries, Landmark Group ink deal to sell Being Human apparel
NEW DELHI: Mumbai-based textile firm Mandhana Industries, which has the exclusive license for Salman Khan's 'Being Human' apparel range worldwide, has signed up with Dubai-based Landmark Group to sell the clothing line in Middle East from April this year.
Mandhana Industries that has rights to manufacture, distribute and retail 'Being Human' range of garments, is also in talks with retailers in Europe while it gets ready to open flagship stores for the brand in India by March this year.
"We have tied up with Landmark Group to retail 'Being Human' apparel at over 200 stores operated by Landmark under Iconic and Splash brands (in Middle East)," Mandhana Industries, Senior-Vice President Finance and Corporate Affairs Mitesh Shah told PTI.
The brand will be launched in the region by April this year but before that it will be launched in India, he added.
As a part of an agreement between Mandhana and Landmark, the range will be sold countries in the region, including UAE, Egypt, Bahrain, Saudi Arabia, Oman, Kuwait, Jordan, Lebanon and Qatar.
Commenting on other overseas plans, Shah said: "We are also engaged in discussions with few retailers in Europe and expect to launch the label in countries like France, Germany and UK within this year."
In India, the company had planned to launch the brand last year but after delays it is likely to take place by March this year.
"To begin with we plan to open 6-7 flagship stores in India which will be operated by Mandhana and we are also in talks with other retailers to sell the range," Shah added.
The Being Human Foundation is founded by Bollywood actor Salman Khan to uplift the underprivileged. Mandhana, on the other hand supplies textiles and garments to leading Indian and international apparel manufacturers and retailers.
Mandhana Industries that has rights to manufacture, distribute and retail 'Being Human' range of garments, is also in talks with retailers in Europe while it gets ready to open flagship stores for the brand in India by March this year.
"We have tied up with Landmark Group to retail 'Being Human' apparel at over 200 stores operated by Landmark under Iconic and Splash brands (in Middle East)," Mandhana Industries, Senior-Vice President Finance and Corporate Affairs Mitesh Shah told PTI.
The brand will be launched in the region by April this year but before that it will be launched in India, he added.
As a part of an agreement between Mandhana and Landmark, the range will be sold countries in the region, including UAE, Egypt, Bahrain, Saudi Arabia, Oman, Kuwait, Jordan, Lebanon and Qatar.
Commenting on other overseas plans, Shah said: "We are also engaged in discussions with few retailers in Europe and expect to launch the label in countries like France, Germany and UK within this year."
In India, the company had planned to launch the brand last year but after delays it is likely to take place by March this year.
"To begin with we plan to open 6-7 flagship stores in India which will be operated by Mandhana and we are also in talks with other retailers to sell the range," Shah added.
The Being Human Foundation is founded by Bollywood actor Salman Khan to uplift the underprivileged. Mandhana, on the other hand supplies textiles and garments to leading Indian and international apparel manufacturers and retailers.
Friday, January 20, 2012
McDonald's goes for costliest revamp to attract more adults
New Delhi: Fifteen years after it entered India, Big Mac is changing colours, literally. The world's largest fast-food chain is shedding its familiar red-and-yellow colours for more muted tones as it goes for its biggest and costliest revamp in the country, in line with its global strategy of attracting more adults.
The makeover also involves taking away the iconic mascot, Ronald McDonald, at least from some of its outlets in the country and beefing up its menu with options that are more likely to appeal to adults. The US-based burger-and-fries chain has already added McSpicy Chicken Burger and McFlurry desserts to its offerings in India.
The red-and-yellow company logo will be replaced by white across its 240 restaurants over the next three-four years and the decor will change from neon-yellow and bright-red interiors to pale colours.
"The change has already kicked off with one outlet each in New Delhi and Mumbai," said McDonald's India (North & East) MD and joint venture partner Vikram Bakshi. The company hopes to upgrade the consumer's experience, he said, without alienating its younger customers and raising prices.
Others are not so confident. "McDonald's core equity, at least in India, lies with kids, mostly in the sub-13-year age group. I am not sure if the move to bring in muted colours and decor would go well with this category of consumers," said Mahesh Chauhan, co-founder of advertising and marketing firm Salt Brand Solutions.
"It may be a good move for some other developed markets, but I am not sure how it will work for a market like India where organised food retail still remains very small." The makeover in India, part of the company's revamp in the Asia-Pacific Middle-East and Africa region, comes three-four years after the US and Europe.
"The designs will be different in different stores depending on their location but the common thread will be more soothing colours, contemporary designs and softer seating," said Bakshi. Ronald McDonald will disappear from locations where more adults visit the outlets, but will remain in restaurants where the footfalls of children are higher. Globally, McDonald's has been under pressure from nutritionists and activists to remove its clown mascot because it attracts mainly children.
According to the company, nearly half-a-million customers visit its restaurants in India every day. The revamp will cost at least 50% more per outlet, Bakshi said, but added that the company hopes to recover the additional investments through more volumes. The company is donning a new look at a time India is on its way to becoming a global hotspot for food retailers, with chains like Starbucks, Dunkin Donuts and Burger King planning to enter the country.
"Global firms like McDonald's would not take such calls too often, and this would require big investments. They would have anticipated competition which is expected to come in sooner than later," said Harminder Sahni, founder of retail consultancy Wazir Advisor.
The makeover also involves taking away the iconic mascot, Ronald McDonald, at least from some of its outlets in the country and beefing up its menu with options that are more likely to appeal to adults. The US-based burger-and-fries chain has already added McSpicy Chicken Burger and McFlurry desserts to its offerings in India.
The red-and-yellow company logo will be replaced by white across its 240 restaurants over the next three-four years and the decor will change from neon-yellow and bright-red interiors to pale colours.
"The change has already kicked off with one outlet each in New Delhi and Mumbai," said McDonald's India (North & East) MD and joint venture partner Vikram Bakshi. The company hopes to upgrade the consumer's experience, he said, without alienating its younger customers and raising prices.
Others are not so confident. "McDonald's core equity, at least in India, lies with kids, mostly in the sub-13-year age group. I am not sure if the move to bring in muted colours and decor would go well with this category of consumers," said Mahesh Chauhan, co-founder of advertising and marketing firm Salt Brand Solutions.
"It may be a good move for some other developed markets, but I am not sure how it will work for a market like India where organised food retail still remains very small." The makeover in India, part of the company's revamp in the Asia-Pacific Middle-East and Africa region, comes three-four years after the US and Europe.
"The designs will be different in different stores depending on their location but the common thread will be more soothing colours, contemporary designs and softer seating," said Bakshi. Ronald McDonald will disappear from locations where more adults visit the outlets, but will remain in restaurants where the footfalls of children are higher. Globally, McDonald's has been under pressure from nutritionists and activists to remove its clown mascot because it attracts mainly children.
According to the company, nearly half-a-million customers visit its restaurants in India every day. The revamp will cost at least 50% more per outlet, Bakshi said, but added that the company hopes to recover the additional investments through more volumes. The company is donning a new look at a time India is on its way to becoming a global hotspot for food retailers, with chains like Starbucks, Dunkin Donuts and Burger King planning to enter the country.
"Global firms like McDonald's would not take such calls too often, and this would require big investments. They would have anticipated competition which is expected to come in sooner than later," said Harminder Sahni, founder of retail consultancy Wazir Advisor.
Tuesday, January 17, 2012
Banks need to invest in digital platform: PwC
MUMBAI: Country's lenders are not investing in digital platform for banking even as customers are ready to pay for service which they use, a survey by the consultancy PricewaterhouseCoopers (PwC) has found.
"Banks have generally been slow to openly embrace the digital innovation...they (the customers) are willing to pay for these and yet the majority of banks still only provide basic mobile and internet banking services," PwC India's associate director for financial services, Robin Roy, said.
The commercial banks tend to see digital platforms only as a way to reduce costs and it is time they start to invest in their digital offerings keeping in with the expectations of the customers, he added.
PwC released a report titled "The Digital Tipping Point" said customers are willing to pay for extra services. 85 percent of those polled in India said they will pay for transaction notifications coming through social networking sites like Twitter and Facebook.
Other areas where they are ready to pay include spending analysis tools, relevant third-party offers and storing documents in a virtual vault, among others.
Stating that the needs of the generation Y are different and that the grouping is very diligent in choosing whom they bank with, the report says, "The quality of a bank's digital offering will become a key determinant for customer stickiness."
"Banks have generally been slow to openly embrace the digital innovation...they (the customers) are willing to pay for these and yet the majority of banks still only provide basic mobile and internet banking services," PwC India's associate director for financial services, Robin Roy, said.
The commercial banks tend to see digital platforms only as a way to reduce costs and it is time they start to invest in their digital offerings keeping in with the expectations of the customers, he added.
PwC released a report titled "The Digital Tipping Point" said customers are willing to pay for extra services. 85 percent of those polled in India said they will pay for transaction notifications coming through social networking sites like Twitter and Facebook.
Other areas where they are ready to pay include spending analysis tools, relevant third-party offers and storing documents in a virtual vault, among others.
Stating that the needs of the generation Y are different and that the grouping is very diligent in choosing whom they bank with, the report says, "The quality of a bank's digital offering will become a key determinant for customer stickiness."
Monday, January 16, 2012
Prosegur gets FIPB nod to invest in Security and Intelligence Services (India)
New Delhi: The first strategic foreign investment in the country's cash management space has been sealed with the regulatory clearance for a joint venture between Spanish multinational Prosegur and Delhi-based Security and Intelligence Services (India).
The Foreign Investment Promotion Board, the nodal body that clears FDI into India, cleared the proposal last week allowing one of the world's largest private security companies to enter India. Prosegur will invest around 100 crore for a 49% stake in the newly-launched local entity, in which the Indian partner will hold 51%.
The joint venture will offer cash management solutions to Indian banks, financial institutions and organised retail firms.
"The idea is to build world-class cash processing infrastructure and technology for productivity enhancement and superior risk management," said Rituraj Sinha, chief operating officer at SIS. Prosegur will bring in expertise from its global portfolio which includes over 600 offices across the world.
Cash management support system is vital especially to banks as services such as secured transportation of cash and maintenance solutions for ATMs are often outsourced to third-party entities.
The joint venture in India will offer its services to banks, including SBI, HDFC, Bank of Baroda, Punjab National Bank and ICICI. Over the next two years, the firm plans to invest over 80 crore, a part of which will be used to facilitate inorganic growth. "We will actively pursue acquisitions as we want to achieve a 30% market share in the cash management space by 2015," said Sinha.
India's security services sector has been witnessing hectic activity in the M&A space over the past few years. Some of the deals in the past include G4S's acquisition of DLF's security firm TerraForce and Goldman Sachs-owned International Service System buyout of Chennai-based SDP Cisco. Last year, Blackstone acquired the cash management arm of APS group - Securitrans India.
Founded by first-generation entrepreneur Ravindra Kishore Sinha in 1974, SIS' services include man guarding, electronic security, security training and consulting, among others.
The Foreign Investment Promotion Board, the nodal body that clears FDI into India, cleared the proposal last week allowing one of the world's largest private security companies to enter India. Prosegur will invest around 100 crore for a 49% stake in the newly-launched local entity, in which the Indian partner will hold 51%.
The joint venture will offer cash management solutions to Indian banks, financial institutions and organised retail firms.
"The idea is to build world-class cash processing infrastructure and technology for productivity enhancement and superior risk management," said Rituraj Sinha, chief operating officer at SIS. Prosegur will bring in expertise from its global portfolio which includes over 600 offices across the world.
Cash management support system is vital especially to banks as services such as secured transportation of cash and maintenance solutions for ATMs are often outsourced to third-party entities.
The joint venture in India will offer its services to banks, including SBI, HDFC, Bank of Baroda, Punjab National Bank and ICICI. Over the next two years, the firm plans to invest over 80 crore, a part of which will be used to facilitate inorganic growth. "We will actively pursue acquisitions as we want to achieve a 30% market share in the cash management space by 2015," said Sinha.
India's security services sector has been witnessing hectic activity in the M&A space over the past few years. Some of the deals in the past include G4S's acquisition of DLF's security firm TerraForce and Goldman Sachs-owned International Service System buyout of Chennai-based SDP Cisco. Last year, Blackstone acquired the cash management arm of APS group - Securitrans India.
Founded by first-generation entrepreneur Ravindra Kishore Sinha in 1974, SIS' services include man guarding, electronic security, security training and consulting, among others.
Telcos asked to ensure that towers are run on hybrid power
New Delhi: All telecom companies have been mandated to ensure that that at least 50% of all rural towers and 20% of the urban towers are powered by hybrid power by 2015. Further 75% of rural towers and 33% of urban towers are to be powered by hybrid power by 2020.
These directions have been issued after the government has accepted sector regulator Trai's recommendations on 'green telephony'.
The new rules also mandate that all telecom products, equipments and services in the telecom network should be certified "Green Passport [GP]" by the year 2015. The telecoms department's technical arm - Telecommunication Engineering Centre - will certify telecom products, equipments and services on the basis of Energy Consumption Rating ratings, the regulator said.
Besides, all service providers should declare to the regulator the carbon footprint of their network operations. This declaration should be done twice in a year.
Service providers should adopt a voluntary code of practice encompassing energy efficient network planning, infra-sharing, deployment of energy efficient technologies and adoption of renewable energy technology (RET) to reduce carbon footprints, the regulator said in a statement.
It has also asked service providers to evolve a 'Carbon Credit Policy' in line with carbon credit norms with the ultimate objective of achieving a maximum of 50% over the carbon footprint levels of the Base Year (2011) in rural areas and 66% in urban areas by the year 2020.
Operatores should aim at Carbon emission reduction targets for the mobile network at 5% by the year 2012-2013, 8% by the year 2014-2015, 12% by the year 2016-2017 and 17% by the year 2018-2019, the new norms on green telephony add.
These directions have been issued after the government has accepted sector regulator Trai's recommendations on 'green telephony'.
The new rules also mandate that all telecom products, equipments and services in the telecom network should be certified "Green Passport [GP]" by the year 2015. The telecoms department's technical arm - Telecommunication Engineering Centre - will certify telecom products, equipments and services on the basis of Energy Consumption Rating ratings, the regulator said.
Besides, all service providers should declare to the regulator the carbon footprint of their network operations. This declaration should be done twice in a year.
Service providers should adopt a voluntary code of practice encompassing energy efficient network planning, infra-sharing, deployment of energy efficient technologies and adoption of renewable energy technology (RET) to reduce carbon footprints, the regulator said in a statement.
It has also asked service providers to evolve a 'Carbon Credit Policy' in line with carbon credit norms with the ultimate objective of achieving a maximum of 50% over the carbon footprint levels of the Base Year (2011) in rural areas and 66% in urban areas by the year 2020.
Operatores should aim at Carbon emission reduction targets for the mobile network at 5% by the year 2012-2013, 8% by the year 2014-2015, 12% by the year 2016-2017 and 17% by the year 2018-2019, the new norms on green telephony add.
IBM developing storage device of just 12 atoms
Researchers at IBM have stored and retrieved digital 1s and 0s from an array of just 12 atoms, pushing the boundaries of the magnetic storage of information to the edge of what is possible.
The findings, being reported Thursday in the journal Science, could help lead to a new class of nanomaterials for a generation of memory chips and disk drives that will not only have greater capabilities than the current silicon-based computers but will also consume significantly less power. And it may offer a new direction for research in quantum computing.
"Magnetic materials are extremely useful and strategically important to many major economies, but there aren't that many of them," said Shan X Wang, director of the Center for Magnetic Nanotechnology at Stanford University. "To make a brand new material is very intriguing and scientifically very important."
Until now, the most advanced magnetic storage systems have needed about 1 million atoms to store a digital 1 or 0. The new achievement is the product of a heated international race between two elite physics laboratories to explore the properties of magnetic materials at a far smaller scale.
Last May, a group at the Institute of Applied Physics at the University of Hamburg in Germany reported on the ability to perform computer logic operations on an atomic level.
The group at IBM's Almaden Research Center here, led by Andreas Heinrich, has now created the smallest possible unit of magnetic storage by painstakingly arranging two rows of six iron atoms on a surface of copper nitrite atoms. The cluster of atoms is described as anti-ferromagnetic - a rare quality in which each atom in the array has an opposed magnetic orientation. (In common ferromagnetic materials like iron, nickel and cobalt, the atoms are magnetically aligned.)
Under the laboratory's founder, Don Eigler, IBM has explored the science of nanomaterials far smaller than the silicon chips used in today's semiconductors. Eigler recently retired from the company but is a co-author of the Science paper.
The researchers now use a scanning tunneling microscope, which looks like a giant washing machine festooned with aluminum foil, not only to capture images of atoms but to reposition individual atoms - much the way a billiard ball might be moved by a pool cue with a sticky tip.
Although the research took place at temperatures near absolute zero, the scientists wrote that the same experiment could be done at room temperature with as few as 150 atoms.
As part of its demonstration of the anti-ferromagnetic storage effect, the researchers created a computer byte, or character, out of an individually placed array of 96 atoms. They then used the array to encode the IBM motto "Think" by repeatedly programming the memory block to store representations of its five letters.
The findings, being reported Thursday in the journal Science, could help lead to a new class of nanomaterials for a generation of memory chips and disk drives that will not only have greater capabilities than the current silicon-based computers but will also consume significantly less power. And it may offer a new direction for research in quantum computing.
"Magnetic materials are extremely useful and strategically important to many major economies, but there aren't that many of them," said Shan X Wang, director of the Center for Magnetic Nanotechnology at Stanford University. "To make a brand new material is very intriguing and scientifically very important."
Until now, the most advanced magnetic storage systems have needed about 1 million atoms to store a digital 1 or 0. The new achievement is the product of a heated international race between two elite physics laboratories to explore the properties of magnetic materials at a far smaller scale.
Last May, a group at the Institute of Applied Physics at the University of Hamburg in Germany reported on the ability to perform computer logic operations on an atomic level.
The group at IBM's Almaden Research Center here, led by Andreas Heinrich, has now created the smallest possible unit of magnetic storage by painstakingly arranging two rows of six iron atoms on a surface of copper nitrite atoms. The cluster of atoms is described as anti-ferromagnetic - a rare quality in which each atom in the array has an opposed magnetic orientation. (In common ferromagnetic materials like iron, nickel and cobalt, the atoms are magnetically aligned.)
Under the laboratory's founder, Don Eigler, IBM has explored the science of nanomaterials far smaller than the silicon chips used in today's semiconductors. Eigler recently retired from the company but is a co-author of the Science paper.
The researchers now use a scanning tunneling microscope, which looks like a giant washing machine festooned with aluminum foil, not only to capture images of atoms but to reposition individual atoms - much the way a billiard ball might be moved by a pool cue with a sticky tip.
Although the research took place at temperatures near absolute zero, the scientists wrote that the same experiment could be done at room temperature with as few as 150 atoms.
As part of its demonstration of the anti-ferromagnetic storage effect, the researchers created a computer byte, or character, out of an individually placed array of 96 atoms. They then used the array to encode the IBM motto "Think" by repeatedly programming the memory block to store representations of its five letters.
Thursday, January 12, 2012
Indian mobile ad network Vserv expanding into emerging markets
Bangalore: Mobile ad network, Vserv is planning to follow the InMobi path by targeting emerging markets for growth. The two-year-old start-up is set to establish an office in Singapore next month. With this, the Mumbai-based venture hopes to expand its reach in South East Asia.
"Developers from other countries use our product but that has been a result of online marketing. With offices in other markets we would like to expand our marketing reach," says Dippak Khurana, co-founder and CEO of Vserv. The venture's product, AppWrapper, adds advertisements to a developer's mobile application or apps and can be used on basic feature phones that have mobile internet browsing and on smartphones.
InMobi, which claims to have delivered mobile advertisements in 165 countries, had focused on countries like Indonesia, South Africa and Malaysia before entering the more developed US and Europe markets. InMobi, which is counted among the largest mobile ad networks in the world, raised $200 million from Japan's Softbank in September last year.
The rise in mobile penetration and mobile internet usage has spurred the growth of mobile advertising. Industry estimates put the total number of mobile phone subscriptions at over 5 billion and a Cisco study has estimated that 788 million people across the world will access internet solely through the mobile phone by 2015.
The surging numbers have a direct impact on mobile advertising and according to industry research firm Informa Telecoms & Media, mobile advertising revenue will cross $24 billion in 2015 and the largest contributor will be the Asia Pacific region.
Vserv's Khurana claims that over 10,000 apps run AppWrapper. "Only 30% of our product downloads happen in India. The rest comes from South East Asian countries like Indonesia and Vietnam, followed by Middle East and Africa," says Khurana, who hopes to have a physical presence in these markets by year-end.
Khurana hopes to replicate the learnings in India across emerging markets. "The Indian market is representative of the emerging markets, in terms of devices and usage, so what succeeds here can be replicated elsewhere," says Khurana, who is targeting to reach $100 million in revenues in three years.
"Developers from other countries use our product but that has been a result of online marketing. With offices in other markets we would like to expand our marketing reach," says Dippak Khurana, co-founder and CEO of Vserv. The venture's product, AppWrapper, adds advertisements to a developer's mobile application or apps and can be used on basic feature phones that have mobile internet browsing and on smartphones.
InMobi, which claims to have delivered mobile advertisements in 165 countries, had focused on countries like Indonesia, South Africa and Malaysia before entering the more developed US and Europe markets. InMobi, which is counted among the largest mobile ad networks in the world, raised $200 million from Japan's Softbank in September last year.
The rise in mobile penetration and mobile internet usage has spurred the growth of mobile advertising. Industry estimates put the total number of mobile phone subscriptions at over 5 billion and a Cisco study has estimated that 788 million people across the world will access internet solely through the mobile phone by 2015.
The surging numbers have a direct impact on mobile advertising and according to industry research firm Informa Telecoms & Media, mobile advertising revenue will cross $24 billion in 2015 and the largest contributor will be the Asia Pacific region.
Vserv's Khurana claims that over 10,000 apps run AppWrapper. "Only 30% of our product downloads happen in India. The rest comes from South East Asian countries like Indonesia and Vietnam, followed by Middle East and Africa," says Khurana, who hopes to have a physical presence in these markets by year-end.
Khurana hopes to replicate the learnings in India across emerging markets. "The Indian market is representative of the emerging markets, in terms of devices and usage, so what succeeds here can be replicated elsewhere," says Khurana, who is targeting to reach $100 million in revenues in three years.
Gamesa commissions blade unit in Gujarat
Mumbai: Global wind energy major Gamesa has commissioned a Rs 175-crore blade making factory at Vadodara, Gujarat.
The plant, scheduled to produce 390 blades in 2013, will make components for its 850-kW and 2-MW turbine systems.
The manufacturing facility, which has produced its first blade for the 850-kW turbine, will primarily route supplies to the northern States, including Gujarat, Rajasthan, Madhya Pradesh and Maharashtra.
This is part of the €60-million investments Gamesa had announced in March, 2011 to strengthen its manufacturing base in India to tap rising demand in the wind energy market. The company intends to complete its investment plans by building a factory to produce nacelles (cover that houses all generating components in a wind turbine) in Tamil Nadu.
“This marks another step towards cementing our manufacturing base in India, where we are also implementing our best technology and practices in wind turbine production,” said Mr Ramesh Kymal, Chairman, Gamesa India.
Gamesa also operates as a wind farm developer in India, where it has a portfolio of wind farms exceeding 2,100 MW of combined capacity at varying stages of development.
In May 2011, Gamesa Wind Turbines, the Indian subsidiary of Gamesa Corporacion, signed a $2-billion agreement with Caparo Energy India for supply and commissioning 2,000 MW of turbine capacity in India. The deal was said to be the biggest in India and among the largest in the world.
The plant, scheduled to produce 390 blades in 2013, will make components for its 850-kW and 2-MW turbine systems.
The manufacturing facility, which has produced its first blade for the 850-kW turbine, will primarily route supplies to the northern States, including Gujarat, Rajasthan, Madhya Pradesh and Maharashtra.
This is part of the €60-million investments Gamesa had announced in March, 2011 to strengthen its manufacturing base in India to tap rising demand in the wind energy market. The company intends to complete its investment plans by building a factory to produce nacelles (cover that houses all generating components in a wind turbine) in Tamil Nadu.
“This marks another step towards cementing our manufacturing base in India, where we are also implementing our best technology and practices in wind turbine production,” said Mr Ramesh Kymal, Chairman, Gamesa India.
Gamesa also operates as a wind farm developer in India, where it has a portfolio of wind farms exceeding 2,100 MW of combined capacity at varying stages of development.
In May 2011, Gamesa Wind Turbines, the Indian subsidiary of Gamesa Corporacion, signed a $2-billion agreement with Caparo Energy India for supply and commissioning 2,000 MW of turbine capacity in India. The deal was said to be the biggest in India and among the largest in the world.
Trinidad may offer India access to more LNG
Kolkata: The Prime Minister of the Trinidad and Tobago, Ms Kamla Persad-Bissessar, on Tuesday said that her country is keen to attract Indian fashion, entertainment, education, agriculture-technology and maritime industries. Though she did not make any direct commitment, she indicated Trinidad and Tobago may “offer” India access to the much needed LNG (liquefied natural gas).
Talking to select journalists over dinner in Kolkata, Ms Bissessar, the Indian origin, first woman Prime Minister of the republic of 13 million people, said that the Caribbean nation has policies in place, to offer India (or any other nation of its choice) more LNG.
The meeting was organised by the Global Organisation for People of Indian Origin (GOPIO) in collaboration with Bengal Chamber of Commerce and Industry.
Trinidad and Tobago owns majority stake in the oil and gas fields. India's LNG imports from the country have come down in the recent years. Though Ms Bissessar did not confirm if Indian imports from the Caribbean should witness an improvement, she was clear that she would explore possibilities.
Reiterating her interest in strengthening economic social bonding with world's largest democracy, the Prime Minister said that her country is keen to project itself as a “location” for Bollywood films. “We are looking at Bollywood to come to Trinidad and Tobago in a big way.”
Also high on the priority list is attracting high profile Indian fashion designers to Trinidad. “I have met some reputed fashion designers from India and they promised to participate in the fashion week in October 2012,” she said.
Ms Bissessar was in the city to pay tribute to “The Kolkata Memorial” — created on January 11 last year at Kidderpore dock in the city, in memory of the Indian labourers taken to far away lands by the Britishers from 1834 through the 1920s. She also visited her ancestral village in Buxur district in Bihar.
Talking to select journalists over dinner in Kolkata, Ms Bissessar, the Indian origin, first woman Prime Minister of the republic of 13 million people, said that the Caribbean nation has policies in place, to offer India (or any other nation of its choice) more LNG.
The meeting was organised by the Global Organisation for People of Indian Origin (GOPIO) in collaboration with Bengal Chamber of Commerce and Industry.
Trinidad and Tobago owns majority stake in the oil and gas fields. India's LNG imports from the country have come down in the recent years. Though Ms Bissessar did not confirm if Indian imports from the Caribbean should witness an improvement, she was clear that she would explore possibilities.
Reiterating her interest in strengthening economic social bonding with world's largest democracy, the Prime Minister said that her country is keen to project itself as a “location” for Bollywood films. “We are looking at Bollywood to come to Trinidad and Tobago in a big way.”
Also high on the priority list is attracting high profile Indian fashion designers to Trinidad. “I have met some reputed fashion designers from India and they promised to participate in the fashion week in October 2012,” she said.
Ms Bissessar was in the city to pay tribute to “The Kolkata Memorial” — created on January 11 last year at Kidderpore dock in the city, in memory of the Indian labourers taken to far away lands by the Britishers from 1834 through the 1920s. She also visited her ancestral village in Buxur district in Bihar.
Friday, January 6, 2012
Banks must acknowledge, streamline MSME loan applications: RBI
Mumbai: The Reserve Bank of India has asked banks to mandatorily acknowledge all loan applications, submitted either manually or online, by micro, small and medium enterprise (MSME) borrowers. The central bank has reiterated the above directive following complaints from industry associations/ chambers that banks are not acknowledging loan applications.
Banks have been asked to ensure that a running serial number is recorded on the loan application form as well as the acknowledgement receipt. Further, banks are encouraged to start a central registration for loan applications, the RBI said. The same technology may be used for online submission of loan applications to enable online tracking.
Better design
The RBI emphasised that loan application forms have to be so designed that all documents required to be executed by the borrower on sanction of the loan form a part of it. The forms should have a checklist of the documents required to be submitted by the applicant and the formalities to be completed, post-sanction.
For micro enterprises, simplified application-cum-sanction form, printed in regional language, should be introduced for loans up to Rs 1 crore.
Banks should consider introducing a committee approach for sanction of new loans as also rehabilitation cases. This will improve the quality of decision as the members' collective wisdom will be utilised, especially while taking decision on loan applications for greenfield projects in the sector or rehabilitation proposals.
The RBI said banks should give it an ‘action taken report' on compliance with these directives by the end of this month.
Banks have been asked to ensure that a running serial number is recorded on the loan application form as well as the acknowledgement receipt. Further, banks are encouraged to start a central registration for loan applications, the RBI said. The same technology may be used for online submission of loan applications to enable online tracking.
Better design
The RBI emphasised that loan application forms have to be so designed that all documents required to be executed by the borrower on sanction of the loan form a part of it. The forms should have a checklist of the documents required to be submitted by the applicant and the formalities to be completed, post-sanction.
For micro enterprises, simplified application-cum-sanction form, printed in regional language, should be introduced for loans up to Rs 1 crore.
Banks should consider introducing a committee approach for sanction of new loans as also rehabilitation cases. This will improve the quality of decision as the members' collective wisdom will be utilised, especially while taking decision on loan applications for greenfield projects in the sector or rehabilitation proposals.
The RBI said banks should give it an ‘action taken report' on compliance with these directives by the end of this month.
India Inc raises $1.6 bn via ECBs in Nov 2011
Mumbai: India Inc raised raised $ 1.6 billion via external commercial borrowings (ECBs) in November, 2011. According to the Reserve Bank of India (RBI), the ECB borrowing dipped by $900 million as against $2.5 billion in October 2011.
Under the automatic route, 78 companies raised $ 1.3 billion. ONGC Mangalore Petrochem raised $250 million and Tata Teleservices borrowed $200 million for financing of new project and import of capital goods respectively. Infrastructure Development Finance Corporation (IDFC) also raised $100 million for onward lending to infrastructure projects via ECB.
Currently, the government allows the companies to raise up to $750 million under the automatic route in a year. Beyond $750 million, approval by the RBI is required.
A total of $253 million was raised under the approval route that requires case-by-case nod by the regulator. Under the approval route, Dredging Corporation of India raised $253 million for development of ports, while The India Hotels Company borrowed $95 million. No foreign currency convertible bonds (FCCB) were issued.
The ECB borrowings have slowed over the past few months as the global economic outlook is weak and firms are following a wait and watch policy with respect to their investment activities, economists said.
Under the automatic route, 78 companies raised $ 1.3 billion. ONGC Mangalore Petrochem raised $250 million and Tata Teleservices borrowed $200 million for financing of new project and import of capital goods respectively. Infrastructure Development Finance Corporation (IDFC) also raised $100 million for onward lending to infrastructure projects via ECB.
Currently, the government allows the companies to raise up to $750 million under the automatic route in a year. Beyond $750 million, approval by the RBI is required.
A total of $253 million was raised under the approval route that requires case-by-case nod by the regulator. Under the approval route, Dredging Corporation of India raised $253 million for development of ports, while The India Hotels Company borrowed $95 million. No foreign currency convertible bonds (FCCB) were issued.
The ECB borrowings have slowed over the past few months as the global economic outlook is weak and firms are following a wait and watch policy with respect to their investment activities, economists said.
Wednesday, January 4, 2012
IRB Infrastructure to seek Rs 70 crore compensation from NHAI
MUMBAI: IRB Infrastructure Developers plans to claim a compensation of around Rs 60-70 crore from the National Highway Authority of India for terminating its contract for a Goa road project after the latter could not acquire land for it.
Road projects have faced delays due to issues relating to land acquisition, environmental clearances and right of way but this is only the second instance in the last two years where a project has been cancelled due to NHAI's inability to acquire land.
"We haven't yet received a compensation claim from IRB. But if this happens, it would be the first time where a developer seeks compensation for a project cancelled due to land acquisition problem. We will have to examine our liability in the case," a senior NHAI official told ET.
On December 23, IRB said that NHAI has cancelled the Goa road project that it had won in January 2010. Although IRB had written off the project from its order book in the quarter ended September in view of the inordinate delay in the project, the cancellation news had a negative impact on the shares of the company.
IRB shares have shed almost 10% on the Bombay Stock Exchange since the announcement as against a 1.4% decline in the benchmark index Sensex in the same period. Analysts said that the news of a compensation would only be a minor relief for the investors.
"The contract allows us to claim 150% of the equity investment of Rs 34 crore in the project. We may also claim compensation for the Rs 10-15 crore we spent on the financial closure and other work related to the project," IRB's Chief Financial Officer Anil Yadav said.
IRB had formed a special purpose vehicle, IRB Goa Tollway Pvt, to execute the project, which will claim the compensation for the project which entailed four-laning of the Panaji- Goa stretch of Goa -Karnataka Border road. At the time of winning the project, the company had said that it would cost Rs 800 crore, of which Rs 186.30 crore would be the grant from government.
Typically, at the time of awarding a project NHAI owns almost 80% of the land required for it while it acquires the balance within six months. According to NHAI, land acquisition has been most difficult in Goa, Kerala and West Bengal.
Road projects have faced delays due to issues relating to land acquisition, environmental clearances and right of way but this is only the second instance in the last two years where a project has been cancelled due to NHAI's inability to acquire land.
"We haven't yet received a compensation claim from IRB. But if this happens, it would be the first time where a developer seeks compensation for a project cancelled due to land acquisition problem. We will have to examine our liability in the case," a senior NHAI official told ET.
On December 23, IRB said that NHAI has cancelled the Goa road project that it had won in January 2010. Although IRB had written off the project from its order book in the quarter ended September in view of the inordinate delay in the project, the cancellation news had a negative impact on the shares of the company.
IRB shares have shed almost 10% on the Bombay Stock Exchange since the announcement as against a 1.4% decline in the benchmark index Sensex in the same period. Analysts said that the news of a compensation would only be a minor relief for the investors.
"The contract allows us to claim 150% of the equity investment of Rs 34 crore in the project. We may also claim compensation for the Rs 10-15 crore we spent on the financial closure and other work related to the project," IRB's Chief Financial Officer Anil Yadav said.
IRB had formed a special purpose vehicle, IRB Goa Tollway Pvt, to execute the project, which will claim the compensation for the project which entailed four-laning of the Panaji- Goa stretch of Goa -Karnataka Border road. At the time of winning the project, the company had said that it would cost Rs 800 crore, of which Rs 186.30 crore would be the grant from government.
Typically, at the time of awarding a project NHAI owns almost 80% of the land required for it while it acquires the balance within six months. According to NHAI, land acquisition has been most difficult in Goa, Kerala and West Bengal.
Thursday, December 29, 2011
Tamil Nadu to recruit 7,000 teachers for government schools
CHENNAI: With a view to ensure the 1:40 teacher-student ratio in government-run schools in the state, Tamil Nadu Chief Minister J Jayalalithaa today directed creating about 7,000 new additional teacher vacancies.
The Chief Minister has directed creating a total of 6,872 graduate teacher vacancies in the current academic year, which would result in the government incurring an expenditure of Rs 181.36 crore annually.
A state government release here said she had also directed creating 1,590 additional post graduate teaching vacancies to cater to the said student-teacher ratio in government-run higher secondary schools. The state exchequer will incur an additional sum of Rs 45.25 crore.
Further, the government also announced hiking the monthly wages of guest lecturers in Government Arts and Science Colleges to Rs 10,000 from Rs 6,000 per month.
The Chief Minister has directed creating a total of 6,872 graduate teacher vacancies in the current academic year, which would result in the government incurring an expenditure of Rs 181.36 crore annually.
A state government release here said she had also directed creating 1,590 additional post graduate teaching vacancies to cater to the said student-teacher ratio in government-run higher secondary schools. The state exchequer will incur an additional sum of Rs 45.25 crore.
Further, the government also announced hiking the monthly wages of guest lecturers in Government Arts and Science Colleges to Rs 10,000 from Rs 6,000 per month.
Dr Reddy's launches pain treatment cream 'Supamove' in India
NEW DELHI: Dr Reddy's Laboratories today said it has launched 'Supamove' cream used for treating pain and inflammation in India.
The cream helps in reducing pain and inflammation in patients with joint pain, arthritis, bursitis, tendinitis and lower back pain, the company said.
"The product has been in-licensed from Cymbiotics Inc. USA and will be available in a 30 gm tube," it added.
The company has also launched another product, Venusia Soft lotion in 75 ml pack, used for providing relief from dry, itchy skin also in-licensed from Cymbiotics Inc.
"This will complete Dr Reddy's treatment basket in the emollient and protective space which already includes Venusia cream, Venusia lotion, Venusia max and Venusia bathing bar," Dr Reddy's said.
The company claimed that current market size of topical non-steroidal anti-inflammatory drugs (NSAID) segment is over Rs 352 crore and emollients and protectives market in India is currently valued at Rs 208 crore, it added.
The Hyderabad-based firm, which had revenues of USD 1.7 billion in FY 11 is present in three business segments- pharmaceutical services and active ingredients, global generics and proprietary products.
Shares of Dr Reddy's were today trading at Rs 1,573 in the after noon trade on BSE, up 0.45 per cent from its previous close.
The cream helps in reducing pain and inflammation in patients with joint pain, arthritis, bursitis, tendinitis and lower back pain, the company said.
"The product has been in-licensed from Cymbiotics Inc. USA and will be available in a 30 gm tube," it added.
The company has also launched another product, Venusia Soft lotion in 75 ml pack, used for providing relief from dry, itchy skin also in-licensed from Cymbiotics Inc.
"This will complete Dr Reddy's treatment basket in the emollient and protective space which already includes Venusia cream, Venusia lotion, Venusia max and Venusia bathing bar," Dr Reddy's said.
The company claimed that current market size of topical non-steroidal anti-inflammatory drugs (NSAID) segment is over Rs 352 crore and emollients and protectives market in India is currently valued at Rs 208 crore, it added.
The Hyderabad-based firm, which had revenues of USD 1.7 billion in FY 11 is present in three business segments- pharmaceutical services and active ingredients, global generics and proprietary products.
Shares of Dr Reddy's were today trading at Rs 1,573 in the after noon trade on BSE, up 0.45 per cent from its previous close.
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