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Manish Vij recommends an app to help analyse data

Written By komp limpulima on Sabtu, 19 April 2014 | 23.25

On Web Check this week, we have Smile Vun Group's CEO & Founder, Manish Vij, and he is recommending an app that he says will help you analyse data.

On Web Check this week, we have Smile Vun Group's CEO & Founder, Manish Vij, and he is recommending an app that he says will help you analyse data.


23.25 | 0 komentar | Read More

Infosys' chief compliance officer quits; replacement named

Country's second largest software services firm Infosys has appointed Parvatheesam Kanchinadam as its Chief Compliance Officer and Ombudsman to its whistleblower policy.

Country's second largest software services firm  Infosys has appointed Parvatheesam Kanchinadam as its Chief Compliance Officer and Ombudsman to its whistleblower policy.

"On April 15, 2014, the board appointed Parvatheesam Kanchinadam, an executive officer of the Company, as the Chief Compliance Officer," Infosys said in a statement.

In this role, Kanchinadam also acts as the ombudsman to whistleblower policy, it added.

Kanchinadam succeeds Nithyanandan Radhakrishnan, who is leaving Infosys to become an independent consultant on international legal matters and the IT services major will be his first significant client.

Also read: Infosys Q4 net beats street, FY15 $ rev guidance at 7-9%

As the Chief Compliance Officer, Kanchinadam will be primarily responsible for overseeing and managing regulatory compliance at Infosys.

He is also the Company Secretary, where his responsibility is to manage board procedures and ensure that it is ably equipped with resources to discharge its fiduciary duties and corporate governance practices.

Parvatheesam holds a Bachelor of Commerce (Hons) degree and is a member of the Institute of Company Secretaries of India.

Infosys stock price

On April 17, 2014, Infosys closed at Rs 3189.90, up Rs 33.50, or 1.06 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.


The company's trailing 12-month (TTM) EPS was at Rs 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.97. The latest book value of the company is Rs 805.47 per share. At current value, the price-to-book value of the company is 3.96.


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RIL to invest up to USD 700 mn in shale gas venture

"We will invest USD 600-700 million in the shale gas venture. This figure has almost become into a yearly run rate now...we hope to open around 125 to 175 new wells during the year," RIL Chief Financial Officer Alok Agarwal told reporters here today.

Reliance Industries  will invest up to USD 700 million in its shale gas venture in the current fiscal and also ramp up spends under the USD 13 billion capex programme in the petrochemical and refining business.

"We will invest USD 600-700 million in the shale gas venture. This figure has almost become into a yearly run rate now...we hope to open around 125 to 175 new wells during the year," RIL Chief Financial Officer Alok Agarwal told reporters here today.

The shale gas business grew significantly during the year and has become a material contributor to earnings. On other capital expenditure plans for FY15, he pointed towards RIL's USD 13 billion programme on the petrochemical and refining front and noted that 30 per cent of the targeted amount is done and the balance 70 per cent will get invested in the next 18-24 months.

On KG-D6, he said the Mukesh Ambani-led conglomerate will focus on improving production from the gas block in the current fiscal and maintained that the output grew in the just-concluded fourth quarter.

The average daily production moved up by a notch in the fourth quarter as against the earlier quarter, he said. Asked about the imbroglio over the gas supply agreements, Agarwal declined to say anything specific but asserted the company will focus on safeguarding its interests.

Without giving a timeline for the launch of the keenly awaited broadband services under the Jio brand, he said the company has invested Rs 32,000 to Rs 33,000 crore in the venture till now.

The telecom venture, whose employee strength has grown to 3,000 from 700 last year, has been making a series of partnerships and investments on the infrastructure front like acquiring spectrum and tie-ups with peers, the CFO said.

He said as the capex cycle moves forward, there will be a marginal drop in the company's cash balances in FY15.

RIL's outstanding debt stood at Rs 89,868 crore as on March 31, 2014 while the cash and equivalents were Rs 88,190 crore.

Reliance stock price

On April 17, 2014, Reliance Industries closed at Rs 958.75, up Rs 17.70, or 1.88 percent. The 52-week high of the share was Rs 972.90 and the 52-week low was Rs 765.00.


The company's trailing 12-month (TTM) EPS was at Rs 67.89 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 14.12. The latest book value of the company is Rs 556.90 per share. At current value, the price-to-book value of the company is 1.72.


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Satbir Singh recommends who you must follow on Twitter

On Must Follow, we have Havas Worldwide India's Satbir Singh, who's recommending whom you should follow on Twitter.

On Must Follow, we have Havas Worldwide India's Satbir Singh, who's recommending whom you should follow on Twitter.


23.25 | 0 komentar | Read More

Checkout top news from Indian ad world

Some big news from Indian ad land. After a 17 year stint with Leo Burnett, Chief Creative Officer KV Sridhar or Pops will exit the agency to pursue other interests. A statement released by the agency says Pops will take a break to reinvent, rediscover and rededicate himself. Next week, Leo Burnett CEO Saurabh Varma will be talking to Storyboard about KV Sridhar's exit and related developments.


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Reebok India's comeback strategy

Recovering from the Rs 870 crore scam that hit the sports goods maker Reebok in 2012, it has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri.

It's been a year of change for Reebok in India. Recovering from the Rs 870 crore scam that hit the sports goods maker in 2012, Reebok has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri. Here's the MD of Reebok India, Eric Haskell on the company's growth strategy and new positioning.


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Glenmark pulls 2,900 bottles of ulcer drug in US

Written By komp limpulima on Jumat, 18 April 2014 | 23.25

Medicines produced in India, which supplies about 40 percent of generic and over-the-counter drugs sold in the United States, have come under increased scrutiny by the Food and Drug Administration over the past year.

Glenmark Pharmaceuticals Ltd  is recalling some 2,900 bottles of its stomach ulcer drug ranitidine in the United States after a foreign tablet was found in one of the bottles.

Medicines produced in India, which supplies about 40 percent of generic and over-the-counter drugs sold in the United States, have come under increased scrutiny by the Food and Drug Administration over the past year.

In the last six months alone, products made by some of India's largest drugmakers, including Ranbaxy Laboratories Ltd ,  Sun Pharmaceutical Industries Ltd and  Dr. Reddy's Laboratories Ltd have been recalled from the United States.

The lot being recalled was manufactured for Glenmark by Shasun Pharmaceuticals Ltd , and the foreign tablet was identified to be metoprolol tartrate, a drug to treat high blood pressure, according to information posted by the FDA on Thursday. The recall began on March 18.

"Corrective actions have been implemented and the recall is limited to only one lot of material," a Glenmark representative said in a statement to Reuters. "Financially, the impact of the recall is very insignificant."

Glenmark stock price

On April 17, 2014, Glenmark Pharma closed at Rs 582.45, down Rs 0.65, or 0.11 percent. The 52-week high of the share was Rs 612.00 and the 52-week low was Rs 467.50.


The company's trailing 12-month (TTM) EPS was at Rs 13.53 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 43.05. The latest book value of the company is Rs 93.03 per share. At current value, the price-to-book value of the company is 6.26.


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USIBC for lifting FDI caps in insurance, defence

The group is dedicated to trade and business between India and the United States. The USIBC, in the past few years, have been seeking FDI in multi-brand retail sector.

The US India Business Council (USIBC), an advocacy group representing American companies doing business in India, has called for lifting cap on foreign direct investment (FDI) in insurance and defence, but surprisingly made no mention of FDI in multi-brand retail.

Also Read: Foreign investment in defence cos capped at 26%: DIPP

"We stand dedicated to the lifting of FDI caps in important sectors like insurance and defence, and enhancing energy security," USIBC chairman Ajay Banga said in a statement yesterday after the annual board meeting of the apex trade and policy advocacy group.

The group is dedicated to trade and business between India and the United States. The USIBC, in the past few years, have been seeking FDI in multi-brand retail sector.

During its board meeting, members of USIBC also sought to address the key differences between the two countries on trade and economic issues through dialogue and not public acrimony.

"Outstanding issues such as clarity on tax policies, protection of intellectual property, and ensuring a clean US immigration reform bill that allows for the free movement of skilled professionals, should be addressed by sitting down at the table as partners and engaging in meaningful dialogue," Banga said.

The board reaffirmed tax, intellectual property, lifting of FDI caps, energy security, and immigration as top issues.

"The US-India Business Council and board of directors remain committed to advancing the partnership between the United States and India," Banga said.


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CavinKare and Bharatiya Mahila Bank signs MoU

As per the agreement, the all-women bank will provide a loan amount between 65 to 75 percent of the total project cost with 11.5 to 12.5 percent interest for Green Trends franchises, it added.

Diversified FMCG company CavinKare today announced strategic partnership with country's first all-women Bharatiya Mahila Bank to promote women entrepreneurs in the organised beauty salon industry.

Green Trends, part of CavinKare's salon business unit - Trends In Vogue has signed an MoU with Bharatiya Mahila Bank. Green Trends is planning to exit with 500 salons for this financial year 2014-15 and also introduce a first of its kind Mobile and Online check-in service in the Indian organized salon segment.

As per the agreement, the all-women bank will provide a loan amount between 65 to 75 percent  of the total project cost with 11.5 to 12.5 percent  interest for Green Trends franchises, it added.

It would also give one percent  rebate in the interest rate for the women entrepreneur.

Commenting on the development, Trends In Vogue Business Head R Gopalakrishnan said:" We have been noticing a significant upswing trend of women from various backgrounds entering this beauty salon segment and this MoU with Bhartiya Mahila Bank will further strengthen the support. We expect 40 to 60 percent  of new salons to be owned by women franchisees".

Bhartiya Mahila Bank CMD Usha Ananthasubramanian said:" We see a tremendous potential in the Indian beauty industry for women to establish themselves as entrepreneurs".


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MCX-SX extends rights issue till April 30

MCX Stock Exchange (MCX-SX), facing legal battles, today extended the subscription period for its rights issue till April 30, citing a request from banks.  The response to the rights issue has been encouraging and the exchange has started receiving funds on account of the same, a release from the troubled exchange said, adding the subscription period has been extended to April 30.

"The shareholding banks need to seek clearance from their investment committees, the board and RBI. This is a time consuming process and a few banks have requested the exchange to extend the deadline of subscription to the rights issue," it said. An exchange official said the company will mainly focus on the currency derivatives segment now. MCX-SX will be able to generate the necessary funds and rights issue is not the only way to infuse capital into the system.

The exchange is confident of raising Rs 200 crore via rights issue. Beyond that, it has a plan B of preferential placement, strategic investors, mergers, which is for the long term, he added. In the first phase of its fund raising initiative, MCX-SX had announced its rights issue in the ratio of 2:1 equity shares held by the existing shareholders. The exchange plans to mobilise Rs 200-250 crore after the issue.

Also Read: Fin Tech's MCX stake to go to multiple investors, say Sources

Post-rights issue, the exchange plans to rope in new foreign investors as strategic partners. A few international exchanges and large liquidity providers have evinced interest in the Exchange which is a positive development, he said.

The other option on the anvil is a merger with a national or regional stock exchange which is expected to bring in a lot of synergy, consolidation of net worth as well as reduction in cost and increase in volumes, the official said. Many institutional investors earlier preferred to stay away from the rights issue due to FTIL -promoted National Spot Exchange (NSEL) facing Rs 5,600 crore payment crisis, and resignation of MCX-SX Chairman GK Pillai after CBI began an inquiry into the grant of licence to the bourse by Sebi.

FTIL and MCX were among the original promoters of MCX-SX, the country's youngest exchange, and following a restructuring they were shifted to public shareholder category. The newly-appointed MCX-SX management has taken a slew of measures to improve the balance sheet. These include negotiating technology agreements with vendors and temporary suspension of the liquidity enhancement scheme.


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