Hyderabad: The Andhra Pradesh Government and GDF Suez LNG UK Ltd will sign a project framework for setting up of a floating storage re-gasification unit at Kakinada seaport.
The terminal will be set up by GAIL and APGDC with an outlay of Rs 4,000 crore. This facility is expected to have capability to re-gasify liquefied natural gas of 15 mmscmd.
This floating unit will be a boon to gas-based independent power generation companies and thereby help boost the economic activity in the East Coast. The terminal planned to be completed by the end of 2013 will help generate additional 3,000 MW.
A project framework agreement for setting up of a floating storage re-gasification unit at Kakinada will be signed at New Delhi on Tuesday between the State-owned AP Gas Development Corporation and GDF Suez, according to a statement from the State Energy Department.
The Andhra Pradesh Government is keen that this project gets commissioned at the earliest to enable the State to help bridge the demand-supply mismatch of gas required for power plants in the State.
The natural gas produced domestically is inadequate to cater to the needs of electricity consumers including to the non-priority sectors. While 9.5 mmscmd has been allocated from KG-D6, barely 5 mmscmd is being supplied, hampering generation.
While additional capacity of 4,000 MW is under various stages of construction, there is no indication of fresh gas supplies. This project is expected to support 3,000 MW of power capacity.
The average cost of generation would work out to Rs 6 a unit versus Rs 9 a unit in the case of RLNG now.
Success in my Habit
Friday, April 20, 2012
Healthcare SMEs use cloud services to reduce cost
Hyderabad: With vast amounts of medical data generated each year, many small and medium-sized healthcare enterprises are opting for cloud technology to store, access and share data, to reduce operational costs and increase efficiency.
Unlike large super-speciality hospitals that have in-house technology for managing data, SMEs in the healthcare space – mainly 25-50-bed hospitals – are opting for cloud technology.
Hyderabad-based Razi Healthcare, which has 50 primary care hospitals across India, has adopted iON – a branded on-demand cloud computing offering from Tata Consultancy Services – to digitise patient-care profiles with electronic medical records (EMRs) for easy access and more accurate treatment.
“Hospitals are using technology and cloud service for maintaining patient medical records, monitoring of patients, billing and payroll, to maximise resource utilisation at low cost and to improve doctor-patient understanding through electronic health records (EHRs), electronic medical records (EMRs), healthcare management and information systems (HMIS), picture archiving and communications systems (PACS), and point of care systems,” said Suresh, chief information officer, SevenHills’s e-health.
e-health is a part of Visakhapatnam-based SevenHills Healthcare Pvt Ltd, a web-enabled hospital management solution (HMS) that provides end-to-end solutions to medical players, where doctors and staff can access the stored data from anywhere through the web.
e-health is the country’s first paperless hospital model, where every patient is allotted a unique health identification card (UHID) at the time of registration. UHID provides complete details of the patient’s medical history as recorded in SevenHills’s e-health suite.
“Currently, there are only five or six full-fledged paperless hospitals in India, and seeing the high storage cost, more hospitals are looking to go paperless (which saves Rs 3 lakh storage cost for a 150-bed hospital),” Suresh said.
The Indian healthcare industry was estimated at $40 billion in 2010, and is expected to reach $280 billion by 2020. According to Frost & Sullivan reports, spending on IT by Indian healthcare players was estimated at $244 million in 2010 and is expected to grow at 22 per cent a year over the next 10 years.
“In this case, use of the cloud-based platform helps in reducing the IT cost of healthcare players, in the face of continued margin pressures and critical need to generate and store large amounts of health data,” Suresh said.
The cloud infrastructure allows hospitals to store data in multiple virtual platforms, such as infrastructure as a service (IaaS), software as a service (SaaS), platform as a service (PaaS), and the service can be set up both on or off-premise.
Globally, cloud adoption by medical players is increasing. Currently, around 32 per cent of healthcare players use cloud service globally, and this is expected to go up to 83 per cent by 2016. However, cloud adoption in India is minimal, Sambamurthy Margam, managing director, Exleaz Consulting Limited, said, quoting a recent report.
“Seeing the potential, cloud adoption across sectors is expected to grow at a very high rate in the country,” he added. Exleaz Consulting, a web-based server having a wholly-owned subsidiary in Hyderabad, recently launched its cloud-based hospital management services (HMS) – MediEaz, a patient-centric, modular single unified database – in India.
MediEaz uses cloud computing services and provides the full range of clinical, administrative and lab capabilities which are linked by a single data repository. It helps businesses save up to 95 per cent of carbon emitted by on-premise servers.
“Among the cloud platforms, cloud IaaS services lower the barriers to market growth by minimising technology costs and upfront investments for small and medium healthcare players,” Suresh said.
Unlike large super-speciality hospitals that have in-house technology for managing data, SMEs in the healthcare space – mainly 25-50-bed hospitals – are opting for cloud technology.
Hyderabad-based Razi Healthcare, which has 50 primary care hospitals across India, has adopted iON – a branded on-demand cloud computing offering from Tata Consultancy Services – to digitise patient-care profiles with electronic medical records (EMRs) for easy access and more accurate treatment.
“Hospitals are using technology and cloud service for maintaining patient medical records, monitoring of patients, billing and payroll, to maximise resource utilisation at low cost and to improve doctor-patient understanding through electronic health records (EHRs), electronic medical records (EMRs), healthcare management and information systems (HMIS), picture archiving and communications systems (PACS), and point of care systems,” said Suresh, chief information officer, SevenHills’s e-health.
e-health is a part of Visakhapatnam-based SevenHills Healthcare Pvt Ltd, a web-enabled hospital management solution (HMS) that provides end-to-end solutions to medical players, where doctors and staff can access the stored data from anywhere through the web.
e-health is the country’s first paperless hospital model, where every patient is allotted a unique health identification card (UHID) at the time of registration. UHID provides complete details of the patient’s medical history as recorded in SevenHills’s e-health suite.
“Currently, there are only five or six full-fledged paperless hospitals in India, and seeing the high storage cost, more hospitals are looking to go paperless (which saves Rs 3 lakh storage cost for a 150-bed hospital),” Suresh said.
The Indian healthcare industry was estimated at $40 billion in 2010, and is expected to reach $280 billion by 2020. According to Frost & Sullivan reports, spending on IT by Indian healthcare players was estimated at $244 million in 2010 and is expected to grow at 22 per cent a year over the next 10 years.
“In this case, use of the cloud-based platform helps in reducing the IT cost of healthcare players, in the face of continued margin pressures and critical need to generate and store large amounts of health data,” Suresh said.
The cloud infrastructure allows hospitals to store data in multiple virtual platforms, such as infrastructure as a service (IaaS), software as a service (SaaS), platform as a service (PaaS), and the service can be set up both on or off-premise.
Globally, cloud adoption by medical players is increasing. Currently, around 32 per cent of healthcare players use cloud service globally, and this is expected to go up to 83 per cent by 2016. However, cloud adoption in India is minimal, Sambamurthy Margam, managing director, Exleaz Consulting Limited, said, quoting a recent report.
“Seeing the potential, cloud adoption across sectors is expected to grow at a very high rate in the country,” he added. Exleaz Consulting, a web-based server having a wholly-owned subsidiary in Hyderabad, recently launched its cloud-based hospital management services (HMS) – MediEaz, a patient-centric, modular single unified database – in India.
MediEaz uses cloud computing services and provides the full range of clinical, administrative and lab capabilities which are linked by a single data repository. It helps businesses save up to 95 per cent of carbon emitted by on-premise servers.
“Among the cloud platforms, cloud IaaS services lower the barriers to market growth by minimising technology costs and upfront investments for small and medium healthcare players,” Suresh said.
ABB to invest Rs 250 crore to expand power products manufacturing base in India
New Delhi: ABB on Monday said it would invest Rs 250 crore to build new facilities in India to manufacture high-voltage power products and transformers. The company will also export products manufactured in India.
""The new manufacturing units will further strengthen our local footprint and enhance our product portfolio,"" said company local division manager (power products) Pitamber Shivnani.
The facilities will be located in Savli near Vadodara, Gujarat and produce high-voltage gas-insulated switchgear and plug and switch system hybrid switchgear as well as dry-type and oil immersed distribution transformers. The facilities are expected to be operational by the end of 2012.
ABB Group of companies operate in around 100 countries and employs about 13 5 ,000 people.
Piramal buys Bayer's molecular imaging assets
Mumbai: The cash-rich Piramal Group has begun making serious investments in pharmaceutical research and development (R&D). Piramal Healthcare Ltd (PHL) today announced an agreement to acquire worldwide rights to the molecular imaging research and development portfolio of Bayer Pharma AG. Financial details of the acquisition were not disclosed, but the move is significant, as the company would get rights to florbetaben that may help detect signs of Alzheimer’s disease.
Since the Rs 17,000-crore sellout of its domestic formulation business to US drug maker Abbott in September 2010, Piramal Healthcare has been on an investment spree across verticals —financial services, defence, telecom, and now, pharma R&D.
Earlier this year, Piramal Healthcare picked up an additional 5.5 per cent in telecom service provider Vodafone India for $618 million (Rs 3,151 crore, according to the current forex rate), raising its total stake in the telco to 11 per cent. Last August, it had bought the initial 5.5 per cent for $640 million (roughly Rs 3,260 crore).
Last year, it had also set up a financial services subsidiary, Piramal Finance, for the purpose of housing two non-banking financial companies (NBFCs) with a combined corpus of Rs 1,000 crore as well as a private equity venture. Again in 2011, the group floated a new company, Piramal Systems and Technologies (PST), to make a foray into the defence security space. More recently, earlier this month, the group's real estate arm, Piramal Realty, bought Hindustan Unilever's Gulita property in Mumbai for Rs 452.5 crore.
The Piramal Group, spanning healthcare, glass, real estate and financial service, clocked a turnover of Rs 5,000 crore in 2010-11.
On the latest R&D initiative, the company said Piramal Healthcare's newly created subsidiary, Piramal Imaging SA, had acquired the portfolio, including rights to florbetaben, a positron emission tomography (PET) tracer. Florbetaben, which is in the final stages of its Phase-III clinical trials, helps detect beta-amyloid plaque deposition in the brain, an indication of probable Alzheimer's disease.
Ajay Piramal, the Piramal Group chairman, said, “We plan to build a promising portfolio in the pharma space, including our newly acquired molecular imaging assets, which will help us create a global branded pharma business.”
The company would fund the acquisition through internal accruals, he said.
Piramal estimates that the new class of PET imaging agents for Alzheimer's has a global market potential of up to $1.5 billion. Piramal Imaging has plans to set up a dedicated global commercial team for florbetaben.
“Core members of Bayer’s research and development team working on the portfolio will be joining Piramal Imaging, which will carry forward the development of florbetaben and take it through regulatory approval processes worldwide. Piramal is planning to file for regulatory approvals in 2012,” a company statement said.
As per the agreement, Piramal will have the intellectual property (including patents, trademarks and know-how), worldwide development, marketing and distribution rights of the lead compound florbetaben as well as other clinical and pre-clinical assets of Bayer’s molecular imaging business.
The field of molecular imaging is not very competitive yet, and US companies Eli Lilly, GE Healthcare and Bayer play in the segment. "Only Eli Lilly has a competitive product in Alzheimer's, but that too was very recently launched," said Swati Piramal, director, PHL.
SEBI unveils new format for reporting financial results
Mumbai: The SEBI has unveiled a new reporting format for disclosing financial results for companies other than banks.
The new format follows a February notification from the Ministry of Corporate Affairs.
The notification incorporates changes in listing agreement regarding disclosure of interim financial results by listed companies.
Companies have to file their income statement and balance sheet in this format starting FY12.
Companies filing consolidated results have to include details of profit / loss of associates and minority interest. They have to provide separate details on promoter/ promoter group shares pledged.
In their balance sheets, companies now have to provide details of money received against share warrants under shareholder's funds.
The new format follows a February notification from the Ministry of Corporate Affairs.
The notification incorporates changes in listing agreement regarding disclosure of interim financial results by listed companies.
Companies have to file their income statement and balance sheet in this format starting FY12.
Companies filing consolidated results have to include details of profit / loss of associates and minority interest. They have to provide separate details on promoter/ promoter group shares pledged.
In their balance sheets, companies now have to provide details of money received against share warrants under shareholder's funds.
Tuesday, April 17, 2012
eClerx acquires US-based Agilyst
New Delhi: eClerx Services Ltd has acquired US-based Agilyst Inc, a knowledge process outsourcing company through its overseas subsidiary eClerx Investments Ltd.
Agilyst Inc will operate as a fully-owned subsidiary of eClerx. Amarchand Mangaldas, which acted as the Indian legal advisor to eClerx Services, said in a statement. The transaction will be funded from eClerx's internal resources and there is no intention to raise any incremental capital. The deal value is confidential.
Avendus Capital served as the financial and strategic advisor to eClerx on the transaction while MAPE Advisory Group served in the same capacity for Agilyst.
Agilyst's management team will continue to manage day-to-day operations. The consideration for the acquisition will be all cash and includes a substantial earn out component based on Agilyst's future performance.
Founded in 2007 by Mr Mahesh Dhillon, Agilyst is a back-office operational and analytics company focused on the North American media industry.
Agilyst's services include critical error identification, customer experience analysis and end user support services. Agilyst has a low cost delivery base in a Tier-2 city. It employs approximately 1,000 people, most of them in India.
Founded in 2000, eClerx provides data analytics and customised process solutions to global enterprise clients. eClerx currently employs more than 4,000 people across five delivery centres in India It has sales and marketing offices located in London, New York, Austin, Dublin and Singapore.
On Friday, Shares of eClerx declined by Rs 6.25, or 0.85 per cent, to close at Rs 728.50 at BSE.
Mig33 ties up with phone makers like G'Five, Intex Technologies and Zen Mobiles to increase its reach in India
New Delhi: Social networking application Mig33 will come pre-loaded on low-cost mobile phones from G'Five, Intex Technologies and Zen Mobiles among others as the app maker tied up with nearly a dozen local handset makers to increase its reach in India.
Handset makers including Bharti Entreprises' Beetel Teletech, Spice Mobiles, Olive Telecom, Lemon Mobiles and Swingtel Communications that recently launched its tablet, will offer Mig33 app pre-loaded on their devices. The Android and Java based phones would also feature the app's new miniblog service that has more than 300,000 daily users.
Mig33 is an app focused on mobile phone users and has more than 55 million in its mobile community.
While the handset makers will gain access to millions of registered users and earn revenue from services like sale of virtual goods and in-game purchases, the social entertainment appwill leverage the popularity of these brands to gain further consumer exposure and strengthen its reach to over 5 million handsets in the market in 2012.
"There is a great synergy with most low-cost handset makers as they also focus on distribution of handsets in smaller towns,"said Mahip Vyas, country manager for mig33 in India. The app is witnessing a user uptake in tier II and tier III cities as consumers in these cities have greater acceptance of social entertainment applications that are available on their economical handsets. We have users from far and wide cities like Ludhiana in Punjab, Bhagalpur in Bihar, Bharuch and Vapi in Gujarat to Cochin in Kerala, he added.
Handset makers including Bharti Entreprises' Beetel Teletech, Spice Mobiles, Olive Telecom, Lemon Mobiles and Swingtel Communications that recently launched its tablet, will offer Mig33 app pre-loaded on their devices. The Android and Java based phones would also feature the app's new miniblog service that has more than 300,000 daily users.
Mig33 is an app focused on mobile phone users and has more than 55 million in its mobile community.
While the handset makers will gain access to millions of registered users and earn revenue from services like sale of virtual goods and in-game purchases, the social entertainment appwill leverage the popularity of these brands to gain further consumer exposure and strengthen its reach to over 5 million handsets in the market in 2012.
"There is a great synergy with most low-cost handset makers as they also focus on distribution of handsets in smaller towns,"said Mahip Vyas, country manager for mig33 in India. The app is witnessing a user uptake in tier II and tier III cities as consumers in these cities have greater acceptance of social entertainment applications that are available on their economical handsets. We have users from far and wide cities like Ludhiana in Punjab, Bhagalpur in Bihar, Bharuch and Vapi in Gujarat to Cochin in Kerala, he added.
India to soon permit FDI flow from Pakistan
New Delhi: Signalling further improvement in its relation with Pakistan, India on Friday said it would allow a flow of foreign direct investment (FDI) from that country soon.
“India has taken an in-principle decision, as a part of the process to deepen our economic engagement, to allow foreign direct investments from Pakistan in India,” commerce & industry minister Anand Sharma said at a joint news conference with his Pakistani counterpart, Makhdoom Amin Fahim. “Procedural requirements (for FDI from Pakistan) are underway. It will be notified soon,” he added.
Mutual cooperation would also be extended to opening branches of banks from both countries in each other’s territory. “RBI (Reserve Bank of India) and State Bank of Pakistan are in favour of opening branches,” he added.
Fahim said, “There has been progress in allowing banking services from both sides. In principle, we have agreed.” Under the current rules, Pakistani citizens cannot directly invest in India. The consolidated FDI policy of the ministry of commerce says, “A non-resident entity (other than a citizen of Pakistan or an entity incorporated in Pakistan) can invest in India, subject to the FDI policy.”
Trade relations between India and Pakistan have seen significant improvement in recent months, with Pakistan introducing the negative list of imports from India and both countries working on simpler business visa rules. On multiple entry business visas, Sharma said, “There will be a formal signing of an agreement soon. Initially, it will be for one year.” Also, trade delegations from both countries had recently met to explore trade and business opportunities.
Pakistan has committed to grant Most Favoured Nation status to India by the end of the current year. Sharma also said an India-Pakistan Business Council would be set up soon and this would be co-chaired by both countries.
“India has taken an in-principle decision, as a part of the process to deepen our economic engagement, to allow foreign direct investments from Pakistan in India,” commerce & industry minister Anand Sharma said at a joint news conference with his Pakistani counterpart, Makhdoom Amin Fahim. “Procedural requirements (for FDI from Pakistan) are underway. It will be notified soon,” he added.
Mutual cooperation would also be extended to opening branches of banks from both countries in each other’s territory. “RBI (Reserve Bank of India) and State Bank of Pakistan are in favour of opening branches,” he added.
Fahim said, “There has been progress in allowing banking services from both sides. In principle, we have agreed.” Under the current rules, Pakistani citizens cannot directly invest in India. The consolidated FDI policy of the ministry of commerce says, “A non-resident entity (other than a citizen of Pakistan or an entity incorporated in Pakistan) can invest in India, subject to the FDI policy.”
Trade relations between India and Pakistan have seen significant improvement in recent months, with Pakistan introducing the negative list of imports from India and both countries working on simpler business visa rules. On multiple entry business visas, Sharma said, “There will be a formal signing of an agreement soon. Initially, it will be for one year.” Also, trade delegations from both countries had recently met to explore trade and business opportunities.
Pakistan has committed to grant Most Favoured Nation status to India by the end of the current year. Sharma also said an India-Pakistan Business Council would be set up soon and this would be co-chaired by both countries.
Venture capital, pvt equity funds in food services may rise 50%
New Delhi: Venture capital and private equity activity in the food services business is fast hotting up.
The sector is expected to see a 50 per cent rise in investments this year to about $750 million, as food suppliers and retail companies look to scale up business and stay competitive by tapping the large potential of the domestic market.
“Most of the investment is now going towards supply chain management and building cold-chain storage infrastructure. Last year, about $500 million was invested in the sector,” said Mr Mahendra Swarup, President, India Venture Capital Association.
Of the total investments of $750 million in 2012, about $165 million has gone into purely front-end retail, such as FMCG, food and beverage firms. It is estimated, that each such food company, with at least 10-15 outlets, will have to invest $7-10 million on the back-end alone.
Investors say the “huge rise in interest” is because growth in the sector has been “phenomenal” for the past few years.
With quick-format restaurants posting the sharpest rise, growth has been about 30 per cent, year-on-year. So, a three- to seven-year long investment is expected to give at least two-and-a-half times increase in returns.
“With many funds focussing on IT and e-commerce firms, this has been an underserved industry till the last few years, especially the backend infrastructure,” an official from a PE fund said.
Added Mr Swarup: “The idea is to build a hub-and-spoke model for half-prepared food. There is huge demand for this where the kitchen area is small, such as food courts in malls and office complexes.”
With real-estate costs posing a challenge, such a model becomes tough for the smaller food firms — which are the target for such funds, as they help in scaling up. Among recent investments, World Bank arm IFC has reportedly put in $6.5 million into food-supply chain firm Snowman Logistics. Other similar investments include Swastik Roadlines (India Equity Partners) and JICS Logistics (IL&FS Private Equity) and Staragri Warehousing and Collateral Management Ltd (IDFC Private Equity).
Demographic edge
“We're bullish on the consumer sector, for Baring it's a core area. Given the demographics and vast population of this country, this will continue to attract a lot of capital,” Mr Keshav Misra, Partner, Baring PE Partners India said.
Baring is investing about Rs 500 crore in FMCG firm Marico along with GIC, Singapore. Other reports have indicated that New Silk Route Partners may invest in South Indian vegetarian restaurant and fast food chain — Adiga, while Sequoia has already invested $5 million in Pune-based kebab and wraps chain — Faaso's.
Last year in August, India Equity Partners invested $35 million in Delhi-based South Indian restaurant chain, Sagar Ratna. Before that, ICICI Venture had invested $33 million Devyani International, which operates franchisees of Pizza Hut, Costa Coffee and KFC.
The sector is expected to see a 50 per cent rise in investments this year to about $750 million, as food suppliers and retail companies look to scale up business and stay competitive by tapping the large potential of the domestic market.
“Most of the investment is now going towards supply chain management and building cold-chain storage infrastructure. Last year, about $500 million was invested in the sector,” said Mr Mahendra Swarup, President, India Venture Capital Association.
Of the total investments of $750 million in 2012, about $165 million has gone into purely front-end retail, such as FMCG, food and beverage firms. It is estimated, that each such food company, with at least 10-15 outlets, will have to invest $7-10 million on the back-end alone.
Investors say the “huge rise in interest” is because growth in the sector has been “phenomenal” for the past few years.
With quick-format restaurants posting the sharpest rise, growth has been about 30 per cent, year-on-year. So, a three- to seven-year long investment is expected to give at least two-and-a-half times increase in returns.
“With many funds focussing on IT and e-commerce firms, this has been an underserved industry till the last few years, especially the backend infrastructure,” an official from a PE fund said.
Added Mr Swarup: “The idea is to build a hub-and-spoke model for half-prepared food. There is huge demand for this where the kitchen area is small, such as food courts in malls and office complexes.”
With real-estate costs posing a challenge, such a model becomes tough for the smaller food firms — which are the target for such funds, as they help in scaling up. Among recent investments, World Bank arm IFC has reportedly put in $6.5 million into food-supply chain firm Snowman Logistics. Other similar investments include Swastik Roadlines (India Equity Partners) and JICS Logistics (IL&FS Private Equity) and Staragri Warehousing and Collateral Management Ltd (IDFC Private Equity).
Demographic edge
“We're bullish on the consumer sector, for Baring it's a core area. Given the demographics and vast population of this country, this will continue to attract a lot of capital,” Mr Keshav Misra, Partner, Baring PE Partners India said.
Baring is investing about Rs 500 crore in FMCG firm Marico along with GIC, Singapore. Other reports have indicated that New Silk Route Partners may invest in South Indian vegetarian restaurant and fast food chain — Adiga, while Sequoia has already invested $5 million in Pune-based kebab and wraps chain — Faaso's.
Last year in August, India Equity Partners invested $35 million in Delhi-based South Indian restaurant chain, Sagar Ratna. Before that, ICICI Venture had invested $33 million Devyani International, which operates franchisees of Pizza Hut, Costa Coffee and KFC.
FIIs invest US$ 62.33 million in equity market in April so far
New Delhi: Foreign institutional investors (FIIs) made a net investment of Rs 322 crore (US$ 62.33 million) in the equity market upto April 13, 2012, according to data released by the Securities and Exchange Board of India (SEBI). During January-March 2012, net inflows stood at around Rs 44,000 crore (US$ 8.52 billion).
Since the beginning of 2012, investment by overseas investors into the Indian stock market has reached Rs 44,273 crore (US$ 8.57 billion), out of which Rs 26,329 crore (US$ 5.10 billion) was invested in January, Rs 25,212 crore (US$ 4.88 billion) in February and the remaining Rs 8,381 crore (US$ 1.62 billion) in March 2012.
The strong FII inflow during January-March 2012 was mainly due to reversal in the Reserve Bank of India’s monetary policy stance and subsequent impact of the improved liquidity position.
Since the beginning of 2012, investment by overseas investors into the Indian stock market has reached Rs 44,273 crore (US$ 8.57 billion), out of which Rs 26,329 crore (US$ 5.10 billion) was invested in January, Rs 25,212 crore (US$ 4.88 billion) in February and the remaining Rs 8,381 crore (US$ 1.62 billion) in March 2012.
The strong FII inflow during January-March 2012 was mainly due to reversal in the Reserve Bank of India’s monetary policy stance and subsequent impact of the improved liquidity position.
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