Indian mkt will be 'very, very volatile' in 2014: Analyst

Indian stocks are likely to head into a correction starting 2014, which could last for at least one, or more, quarters, according to KR Bharat, MD, Advent Advisors.

As part of a global equity rally, Indian shares have logged about 7 percent year-to-date, and are currently perched close to their all-time highs. But the rally was largely driven by easy liquidity sloshing around because of the loose monetary policies of the US Federal Reserve and other central banks, Bharat told CNBC-TV18 in a discussion.

As a result, as the Fed starts to unwind its stimulus that it unveiled in the aftermath of the 2008 financial crisis, stocks will take a hit, he said, adding that the Fed could wind down its monetary stimulus by late 2014 or early 2015.

"So the liquidity flows that played a large role in the 2013 rally will not play the same role in 2014 and if India is to witness good equity performance, it has to be on the basis of strong fundamentals of the Indian economy and I think we are a fair distance from that," he said.

"Indian equities could correct for the first quarter of 2014 or all the way through two or three quarters, before beginning a sustained bull market rally towards the end of 2014," Bharat said.

Also read: 2013 in review: Pharma's year of quality woes

Go easy on equities

When asked what strategy investors could adopt in an environment where his prognosis comes true, he said individual investors' allocation to stocks could be 10-20 percent, which could be increased to 50-60 percent towards the end of 2014.

Even this year, developed markets such as US have outperformed Indian markets – the S&P 500 has clocked a 30 percent gain -- and Bharat believes the outperformance is likely to continue into 2014. "Even within emerging markets, stocks in countries like Malaysia, Indonesia, Vietnam, Taiwan, which are making fairly significant strides [are likely to do well]."

Volatility could also increase thanks to the central-government elections due to take place in May next year, Bharat said. "For every single opinion poll starting from the end of February, people are going to come up with different outcomes and with the publication of each these polls you are going to have huge volatility."

"So the only thing you can say with certainty about 2014: It is going to be very, very volatile."

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Will nation accept Narendra Modi's strong note of anguish?

R Jagannathan
Firstpost.com

Will the nation accept Narendra Modi's very strong note of "anguish" over 2002 and move on? Will his deep statement of "grief" be an electoral game-changer in 2014?

The nation will tell us what the majority think in May 2014. For, when it comes to Modi, the reaction is always black or white. Reactions are binary: Like/Dislike. Those who like him, will accept anything he says. Those who dislike him will find ways to dismiss what is probably his strongest near-apology about the Gujarat communal rioting under his watch as not good enough (read his full statement here ).

However, at the very least it proves one thing: his " puppy " analogy, used in a July interview to describe the unfortunate deaths in 2002, and widely criticised as insensitive, now appears to have been a case of poor articulation. His statement about his feelings at that time have been described in his blog today. There are no gaffes in it, indicating that Modi is making a real effort to reach out to Muslims indirectly. He said: "'Grief, sadness, misery, pain, anguish, agony – mere words could not capture the absolute emptiness one felt on witnessing such inhumanity." If it succeeds in dispelling the strong antipathy of Muslims towards him, it will have have served its political purpose.

However, the statement will be seen differently by Modi-bhakts and Modi-baiters.

For too many of the latter kind, justice for 2002 has come to mean putting Modi in jail, and not the conviction and sentencing of the guilty in various cases. There are over a hundred convictions now, including many carrying life sentences, but for the Left-Liberal caucus in Delhi, the crimes of 2002 are only about Modi.

Those who hate him, including those who have been demanding an apology in the hope that he won't do any such thing, have now raised the bar, now that he has expressed words of some contrition. What he said does not even sound like an apology, some will say. Others will pooh-pooh it, and wonder how "anguish" expressed after 11 years can be counted as the real thing.

Some will contrast what Modi said with what Manmohan Singh said about the 1984 anti-Sikh killings – 21 years later in 2005. Modi said he "was shaken to the core" by the events of 2002.

Manmohan Singh, on the other hand, said it with fewer words, but it was a clear apology . "I have no hesitation in apologising to the Sikh community. I apologise not only to the Sikh community, but to the whole Indian nation because what took place in 1984 is the negation of the concept of nationhood enshrined in our Constitution."

So, in formal terms, Singh's was a fuller apology than Modi's. It said a clear sorry.

But did it bring any closure? A close examination does not show this to be true. The apology came not only 21 years after the event, but from a Sikh prime minister who had nothing to do with it. It came not from the Congress party or the Gandhi family, but their appointed caretaker.

Unlike the Gujarat cases, the Sikh killings have not resulted in any kind of significant convictions of the perpetrators. This, even though the casualties were more than twice as high as in Gujarat. The distribution of casualties heavily one-sided in 1984 -- with only Sikhs being killed. The Gujarat riots saw more people die from police firings than through communal targeting –- suggesting that policing was not entirely abandoned. In 1984, they were.

Another point of difference is this: in 1984, Rajiv Gandhi campaigned for the Congress by tapping into the anti-Sikh sentiment that was prevalent after the assassination of Indira Gandhi. The elections were held barely two months after the assassination, and so even the Election Commission helped Rajiv achieve a huge sympathy wave.

In 2002, Modi campaigned on a veiled anti-minority plank, but the Election Commission delayed the elections to the Gujarat assembly for well over six months in order to avoid giving people a chance to vote in anger. But Modi still won hands down.

But despite a continuous barrage of court cases and media criticism, all of which he weathered, we still find only Modi in the dock, despite a near-apology or expressions of pain and anguish.

Quite clearly, the bar will be raised continuously for Modi.

However, there is a difference between the phony Delhi consensus against accepting a Modi apology and how the ordinary Indian Muslim will view it. Most Muslims may still not vote for him, but many of them will probably accept that the Modi of 2014 is not the same Modi as 2002.

The big question is how this impacts their voting patterns.This is really the biggest question of 2014, not whether Modi will win. If many Muslims find the near-apology sincere enough, 2014 will be a game-changing election.

�The writer is editor-in-chief, digital and publishing, Network18 Group

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Kejriwal allocates portfolios, retains power, finance

Chief Minister Arvind Kejriwal today allocated portfolios to his six Cabinet colleagues while keeping key departments of Home, Finance, Power and Vigilance with himself. The Chief Minister will also keep Planning, Services and all other departments not allocated to the Ministers. Manish Sisodia, considered close to Kejriwal, has been given the charges of Revenue, PWD, Urban Development, Education, Higher Education, Local Bodies and Land and Building departments.

In his first press conference after being sworn-in as the Chief Minister, Kejriwal said Somnath Bharti, a postgraduate from IIT Delhi, will take the charge of Administrative Reforms, Law, Tourism and Culture. Administrative Reforms is high on Kejriwal's agenda with efforts to decentralise power and establish the Mohalla Sabha. The department is also likely to take steps to bring an end to the VIP culture and also provide time bound and efficient services to the people.

Also Read: Kejriwal may be closer to the left than you thought

The youngest Minister in Kejriwal's Cabinet, Rakhi Birla will handle Social Welfare and Women and Child Development departments. She has also been given the additional charge to formulate steps required for enhancing security of women. Girish Soni has been given charge of Labour, Development Skill Development and SC/ST departments. Satyendra Jain has been allocated Health, Industries and Gurudwara Elections. Kejriwal said a Cabinet meeting in the afternoon will decide the dates for convening the assembly as well as possible steps to end VIP culture in the city.

"We will discuss three issues in the Cabinet which include finalising date to convene the assembly, steps required to end VIP culture like restricting use of red beacons and security by government officials and MLAs in Delhi," he said. Kejriwal said he will have separate meetings with officials from Power and Transport departments, Indraprastha Gas Ltd , Delhi Jal Board. He said he will also meet Delhi Police Commissioner B S Bassi. The Chief Minister said, if required, he will hold a second Cabinet meeting later in the evening.

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Green Laws: Is India in line with rest of the world?

Two successive environment ministers in the UPA cabinet have been seen as obstructive of investments. Is India Inc unable to come to terms with environmental costs or is the ministry being unreasonable?

According to environment ministry's website, 72 coal mining projects are awaiting environmental clearance, out of which only nine came in 2013. The rest of them are pending for over a year. Ninety one mining projects awaiting environment clearance, only 25 came in this year. 118 industrial projects awaiting environment clearance, only 13 came in this year.

If one does the math, 83 percent of the projects have waited well over one year. That's the number of projects awaiting environment clearance, more than double that number of projects at any point in time await terms of reference from the ministry. Why this inordinate delay in clearance? Aren't there well laid out standards in most industries? Is the delay on account of haggling by the industry which doesn't want to meet its obligations or is unable to understand the obligations or is it that the administration is either incompetent or the wrong people are in the assessment space?

Former Environment Secretary and currently with TERI Pradipto Ghosh and Seshagiri Rao, Group CFO at JSW Steel, discuss the issue on CNBC-TV18.

Also Read: No files will be kept pending in Environment Min: Moily

Below is the edited interview transcript

Q: Quickly if you can tell us what is a typical process that a project travels from the moment it enters the environment ministry to its final disposal?

Ghosh: We are talking about the category A projects that is projects which are required to be appraised at the level of these central government. And there are other projects which are cleared at the level of the states. We are talking about the ones which require clearance at the central level.

The process starts with the proponent submitting an application with a check list of the impacts of the proposed project to the ministry, which in turn submits it to the notified expert group. The expert group in consultation with the proponent and their consultants, develop the terms of reference for the environmental impact assessment (EIA) study.

We need to understand that the EIA study is not a checklist which is tick-marked. It is a detailed technical examination which requires a year to produce and which typically is about 400-500 pages long.If this seems onerous, let me clarify that this is the worldwide practice, whether it is in the US, whether it is in Europe, whether it is in Australia, it is exactly the same kind of document.

Then once the proponent has prepared the EIA document, and I must emphasize it is up to the proponent to prepare it, it is then submitted to the environment ministry and the expert committee has a 145 days to deliberate upon it in consultation with the project proponent and their consultants. Then at the closer of the period of 145 days they are supposed to send their recommendation within 15 days to the regulator, which happens to be the ministry.

Then the ministry, which includes the minister concerned, can take another 45 days to take a final decision and of course if the ministry does not take a final decision at the level of minister within 45 days then the project proponent is deemed to have got environment clearance in clear legal terms on the basis of the minutes of the expert committee's deliberation.

So this is the process in short. Now in the course of this conversation I can point out to some of the reasons why it takes longer than that by way of comparison. The notified period in the World Bank for their own projects after submission of the EIA is one year, the notified period in the case of Canada is two years and this is -- in two years ago -- after they had comprehensively overhauled that environment clearance system. So the Indian system -- the way it is designed to work is not out of line by any means with the worldwide practice.

Q: If it is a 145 days or maybe 200 days at best that the ministry should take after a proposal is submitted for environment clearance, my numbers show that out of some 300-odd projects only 85 have come in this year, clearly many projects are waiting for well-over 365 days to get environmental clearance. I am sure you must have gone through environmental clearances for many of your projects, where is the bottleneck?

Rao: As Dr Ghosh has explained there are category A and category B. So in the case of category A, the steps, which are involved, either for getting approval of expert appraisal committee (EAC) for terms of reference (TOR) and then preparing an environmental impact assessment report and then doing a public hearing. After public hearing again approaching environmental clearance and if at all it is located in the forest again forest 1 clearance, forest 2 clearance is a prerequisite for environmental clearance. There is no time limit for the forest clearances.

After the forest clearance, it is referred for environmental clearance, if it is located near the wildlife sanctuary or any such area, wildlife departmental approval is required. That takes time. So if you see the whole process which is involved, it is not parallel, it is sequential. There is no single window clearance. If there is a problem at one stage then the project gets delayed.

Q: Is that the only issue that it is not parallely done, these several clearances, or is it that even otherwise there is an unconscionably long time?

Rao: It is unconscionably long time why I am saying again in a public hearing for instance if you have to have a public hearing, in my view, it should be restricted only to the items which are there in the environmental impact assessment study and will impact the environment. Today public consultation when it is happening, first the people who are not affected, outsiders will come to the public hearing, they also raise irrelevant issues which are nowhere connected with the project nor EIA. So all those grievances sought to be addressed before again we approach back, based on the minutes of the public hearing.

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World powers, Iran to resume expert nuclear talks on Dec 30

Experts from Iran and six world powers will resume talks on Monday on how to roll out last month's landmark nuclear deal in Geneva, hoping to resolve numerous technical issues before the accord can take effect.

A spokeswoman for European Union foreign policy chief Catherine Ashton, who oversees diplomacy with Iran on behalf of the United States, Russia, China, France, Britain and Germany, said talks were scheduled to last one day for now.

Two rounds of negotiations have been held so far since Iran agreed on November 24 to curb its most sensitive nuclear work in return for relief from some economic sanctions that are damaging its oil-dependent economy.

In comments that highlight the challenges facing negotiators, Iran's nuclear chief said on Friday Tehran was pressing on with tests of more efficient uranium enrichment technology. His comments appeared aimed at soothing the anger of Iranian hardliners over possible new U.S. sanctions on Iran.

Also Read: UN General Assembly approves $5.5bn budget for 2014/15

The nuclear experts have to work out when the deal will be implemented, triggering the loosening of economic restrictions by the EU and the United States.

A key sticking point appears to be what information Western governments will receive in advance to verify that Iran is meeting its end of the deal before they lift some sanctions.

Other outstanding issues address how exactly sanctions will be eased and practical details of Iranian concessions.

Some diplomats from the six nations have said they hoped the deal could be put fully in place by the second half of January.

The talks resume at a sensitive time. Iranian hardliners, irked by the foreign policy shift since moderate President Hasan Rouhani was elected in June, oppose the Geneva deal and call it "a surrender to America's pressure" by the government.

A group of 100 hardline Iranian lawmakers are seeking to oblige the government to increase uranium enrichment to 60 percent, a level that can produce bomb-grade material if enriched further, if new U.S. sanctions are imposed on Tehran.

It is not clear if the bill will be debated in Iran's 290-seat parliament as the country's most powerful authority, Supreme Leader Ayatollah Ali Khamenei, has repeatedly backed the Geneva talks. If approved, the bill would have to be ratified by a constitutional watchdog body to become law.

MORE CENTRIFUGES

Iranian lawmakers said their bill was a response to "America's hostile measures", referring to legislation introduced by 26 U.S. senators last week to impose new sanctions on Iran if the Islamic Republic breaks the Geneva deal.

A hardline Iranian MP said the process could be derailed if the U.S. lawmakers imposed the tougher curbs despite the Obama administration's opposition.

"Ratification of such a bill could put an end to nuclear negotiations and Tehran may opt not to continue negotiations in the wake of such sanctions," said the deputy head of the Iranian parliament's National Security and Foreign Policy Committee, Mansour Haqhiqhatpour, Press TV reported.

The proposed U.S. legislation would require reductions in Iran's petroleum production and apply new penalties to Iran's engineering, mining and construction industries.

To calm the hardliners, nuclear chief Ali Akbar Salehi said Tehran was testing more efficient uranium enrichment technology by building a new generation of centrifuges - machines that spin at supersonic speed to increase the ratio of the fissile isotope that could enable it to refine uranium much faster.

Although the development does not appear to contravene the Geneva accord, it may worry the major powers who are trying to curb the Islamic state's nuclear programme.

"The new generation of centrifuges is under development. However, tests should be completed before mass production of the centrifuges," Press TV quoted Salehi as saying.

Salehi also said Iran had a total of 19,000 centrifuges, without elaborating on how many were operational.

A spokesman for Iran's Atomic Energy Organisation announced on December 7 that initial testing on a new generation of more sophisticated centrifuges had been completed.

Iran rejects Western fears that its nuclear work has any military intentions and says it needs nuclear power for electricity generation and medical research.

The November 24 deal is meant to give the six powers time to negotiate a final settlement with Iran that will put an end to the decade-old standoff and ease worries over a new war in the Middle East.

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Raghuram Rajan: Destiny's child or beginner's luck?

The year 2013 saw one man take the entire nation by storm. No, we are not taking about movie-stars or cricketers, but Raghuram Rajan - one of the youngest governors of the Reserve Bank of India (RBI). A man who's every move, pun intended, has been watched by the markets, the media and the ministry, CNBC-TV18's Gopika Gopakumar shares details.

Call him the James Bond of banking or the Chennai Express of markets, this year's most desirable Indian could be none other than Dr Raghuram Rajan, the 23rd governor of RBI.

No other central banker in this country has ever received such an ostentatious reception on his arrival than governor Rajan. From his looks to his academic degrees, to being the oracle of the global financial crisis, markets and media have drooled over the messianic quality of this new governor. On his first day first show, governor Rajan stunned the markets by announcing a blitzkrieg of measures liberalising financial markets and banking sector. From the beginning, he made his priorities very clear.

Also Read: Never bet against RBI, it can hurt you: Rajan to traders

Raghuram Rajan, Governor, RBI said "To the existing traditions of the RBI, which will be the bedrock of our work, we will emphasise two other traditions that become important in these times: transparency and predictability."

But predictability was never governor Rajan's last name. On two occasions he took market by surprise with a 25 bps hike in the September mid-quarter review and an unexpected pause in the December review. But that, he said, was his style of policymaking.

But nobody is complaining about governor Rajan's style just yet, maybe, because he has been lucky, logical and successful with his first challenge - the rupee. Rajan opened a special window to allow banks to swap dollar deposits at below market rates. This enabled RBI to garner around USD 34 billion for the country.

Even as he arranged for flows, he removed the big dollar demand from oil companies from the market by opening a special swap window with oil marketing companies. This reduced demand for dollars by USD 300-400 million a day. The rupee that slid by 21 percent in the fifteen weeks before Rajan took over; rose 7 percent in the fifteen weeks after Rajan took over.

Rajan has since turned his attention to the next biggest challenge for RBI and for the country: loan defaults or bad loans of banks. He has released a discussion paper on early recognition of non-performing assets (NPA) and faster restructuring.

On September 4, 2013, Rajan said "Promoters do not have a divine right to stay in charge regardless of how badly they mismanage an enterprise, nor do they have the right to use the banking system to recapitalise their failed ventures."

Whether he's destiny's child or its just beginner's luck, governor Rajan has turned out to be lucky for India so far. But the recent pause on rate hike has left the market wondering whether he is pushing his luck too much. Come January, market will get to know whether he missed an opportunity to hike rates or whether he knows the economy much better than any of us.

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UN General Assembly approves $5.5bn budget for 2014/15

The United Nations General Assembly on Friday approved a $5.53 billion U.N. budget for 2014-2015, down 1 percent from the total spending during the previous two years.

The new biennial budget includes a 2 percent staffing cut, or some 221 posts, and a one year freeze in staff compensation.

The so-called core UN budget that was adopted does not include peacekeeping, currently running at over USD 7 billion a year and approved in separate negotiations, or the costs of several major UN.agencies funded by voluntary contributions from member states.

As in past years, the biennial budget negotiations were marked by a tussle between poor countries seeking to raise UN development spending and major developed countries, which are the biggest budget contributors, trying to rein in the figures as they struggle to reduce expenditures in their own national budgets.

Fiji's UN Ambassador Peter Thomson, speaking on behalf of the Group of 77 developing nations, said the 2014-2015 budget "represents the best that we as member states can muster at this time of continuing austerity in the world economy."

He said the G77 bloc supported the budget "with deep concern that budgetary austerity may negatively effect the development pillar of the work of the United Nations."

Critics of the United Nations, especially in the United States, have long charged that it is a bloated and sometimes corrupt bureaucracy that wastes taxpayers' money.

US Deputy Ambassador Joe Torsella, who focuses on UN management and reform at the US mission, said the 2014-2015 budget marked a "new commitment to real fiscal discipline at the United Nations at a tough time for hardworking families around the world."

"Our shared goal should be to ensure that the United Nations can maximize the results that it delivers with the amount of resources that member states are collectively able to provide," Torsella said.

The United States, which pays 22 percent of the UN budget, is the biggest financial contributor to the United Nations.

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Here's a look at the best ads of 2013

Dec 28, 2013, 04.07 PM IST

Advertising may not be the only tool to market brands but it is definitely the one that people easily connect to.

Tags  Advertising, brands, commercials, Ogilvy, Piyush Pandey, Lowe, R Balki

Like this story, share it with millions of investors on M3

Here's a look at the best ads of 2013

Advertising may not be the only tool to market brands but it is definitely the one that people easily connect to.

Like this story, share it with millions of investors on M3

Here's a look at the best ads of 2013

Advertising may not be the only tool to market brands but it is definitely the one that people easily connect to.

Share  .  Email  .  Print  .  A+A-

Advertising may not be the only tool to market brands but it is definitely the one that people easily connect to.

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Places to dine on New Year`s Eve

Mumbai

Go the Whole Hog@Sofitel

This New Year's there's a feast for every kind of foodie at Bandra Sofitel. Buffet junkies can settle in at Jyran. The kids can party on in Pondicherry Café, and vegeterians can have their senses awakened at  Tuskers.
 

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A snow clad New Year’s eve in Shimla

After a white Christmas, it's time for a snow clad New Years in Shimla, adding to the delight of tourists flocking the hill stations of Himachal Pradesh. Few other places in the state such as Kullu, Manali, Rohtang Pass, Lahaul and Spiti will also receive snowfall.

A fairly good Western Disturbance will start affecting weather from today onwards and will bring snow and rain in the lower hills just before the New Year's celebrations. At present the maximum and minimum temperatures in Shimla are 13 degrees and 1 degree, respectively.

Tourists here should start bracing up for cold wave conditions as night temperatures may fall to sub-zero levels. Day temperature in Shimla will come down below 5 degrees. We expect a cloud cover in another 24 hours, gradually reducing the diurnal variation of temperatures. Hoteliers here are hoping that tourists will throng in large numbers, ahead of New Year's.

picture courtesy- wespeaknews

By: Skymetweather.com

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National Pension Scheme: Tips to claim benefits

Arnav Pandya

The National Pension Scheme (NPS) is an option that a lot of investors can make use of but there are doubts among several investors about the manner in which the benefit can actually be claimed. One of them pertains to the conditions when the benefit can be claimed and whether this exists even if they are contributing to the fund outside of employment.

Here is a look at the entire issue and why the individual should remain worry free on this front as the process of investing is more important and once this is done the other conditions will follow.

Two ways to contribute
One of the ways in which an individual contributes to the NPS is when the employer ensures the enrolment as a part of the overall process that they have undertaken wherein all employees are covered under the requirements. This would mean that there is no provident fund that is actually present for the individual when they are actually working but the amount is actually going into the NPS account. This will result where the NPS is the main area for the funds being directed. The other way is actually where the individual is running the account on their own so that there is no contribution as far as the employer is concerned because there is no employer in the picture. Here the entire contribution comes just from the individual and it could be that the person is not an employee somewhere but is self employed or a professional. There are a lot of such people who would want to make use of the facility of the NPS.

Overall benefit
The first point to understand is that the benefit of the NPS consists of the deduction that is available to the individual when they make their own contribution to the fund. This is the basis on which the entire working is based so the individual will have to consider this factor when they are looking for the actual amount that they can claim. If it is the case where they are contributing an amount and so is the employer then they would need to see their own contribution and this should not exceed 10 per cent of their salary. If they are contributing just on their own then the figure that they are actually giving would need to be taken into account and this will meet their requirement. There is an overall limit of Rs 1 lakh for contributions under eligible investments for Section 80C, pension fund contributions (Section 80CCC) and contribution to NPS (Section 80CCD). The key point here is the amount that actually goes into the NPS would have to be brought into the calculations.

Actual calculation
The manner in which the actual benefits have to be considered is to actually look at the amount that is invested in the instrument during the year. This is a one time benefit in the sense that if say Rs 80,000 is invested then subject to the other limits this figure would be allowed as a deduction for the individual. There is earning on this amount that will be present after the investment and which will be added to the account over the life of the investment but this is not to be taxed at the present moment. This does not mean that the amount is tax free because the way in which this will be taxed is at the time of receipt. When the individual actually gets a pension from the account then the amount would be taken as income of the person and added to their income as required. This is the manner in which the entire taxation of the amounts takes place and this is different from the public provident fund where the interest is actually tax free. Here there is just deferment of the tax aspect till the amount is received.

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UPA did more than any other govt to fight corruption: Rahul

Congress vice-president Rahul Gandhi addressed a Ficci conference in New Delhi on Saturday.

Also Read: Jayanthi Natarajan quits as Union Minister for 'party work'

Below are the highlights:

- Admit that Congress party did not do well in Assembly Elections

- Completely in agreement for need of regulatory system

- Projects do take time to get approval in current system

- CCI approved a large number of projects in the recent past

- Biggest issue we face today is corruption

- Parliament took a landmark step by passing Lokpal Bill

- UPA did more than any other government to fight corruption

- Many revolutionary bills still pending before Parliament

- Indian education system does not do justice to its talents

- Have to take steps to empower business engine and people

- Investments in food security will not drag economy

- Poverty cannot be fought without growth

- Need to take steps to reform power sector

- Have to open up manufacturing sector and foster competition

- UPA made huge investments in micro nutrients and micro irrigations

- Beating inflation is our top priority

- Society cannot be built on injustice

- Investments in social sector schemes is not a drag on economy

- 3rd of Indian population came out of poverty in the last 10 years

- Must target raising manufacturing to 25% of GDP

- There is a cost to not having Land Bill

- Cannot allow environment to be plundered

- Need to be careful on use of natural resources

- Complete arbitrary power is the cause of concern

- Land Acquisition Bill brings transparency, will benefit industry

- We need to build value like Google

- Indian IT sector needs to move up the value chain

- We need to increase access to education

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Publicis Groupe: See worldwide GDP growth for'14 at 4% plus

Dec 21, 2013, 05.15 PM IST

Publicis Groupe's Chairman and CEO, Maurice Levy spoke about the outlook for 2014 and growth of the group.

Tags  Story Board, , Publicis Groupe, Maurice Levy

Like this story, share it with millions of investors on M3

Publicis Groupe: See worldwide GDP growth for'14 at 4% plus

Publicis Groupe's Chairman and CEO, Maurice Levy spoke about the outlook for 2014 and growth of the group.

Like this story, share it with millions of investors on M3

Publicis Groupe: See worldwide GDP growth for'14 at 4% plus

Publicis Groupe's Chairman and CEO, Maurice Levy spoke about the outlook for 2014 and growth of the group.

Share  .  Email  .  Print  .  A+A-

Publicis Groupe's Chairman and CEO, Maurice Levy spoke about the outlook for 2014 and growth of the group.

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Govt failed to defend its own policies, says Praful Patel

Heavy Industries Minister Praful Patel today said the UPA-2 government has failed to defend its own policies particularly telecom spectrum and coal block allocations, which cost them politically.

"I think somewhere we went wrong. We must admit it that we failed to defend some of our (government's) own policies," Patel said while addressing at FICCI's 86th Annual General
Meeting. Elaborating further he said, "I think political executive must be able to drive change. That is going to be possible when you institute a sense of confidence in people who deliver and execute, that we are standing behind you."

"We have taken well judged and well principled decision and we stand by (them) and we will implement it and if there is anything coming in the way, we will make sure that we stand behind you. "I think the last three years, somewhere we have lost the direction on this count and that has costed the country dearly and that has costed us politically," he added.

Elaborating further he said, "When it came to 2G (spectrum) issue, we failed to defend why the policy as it is, good for the country and if at all there were areas of implementation which were not politically right or transparent enough to pass any test, I think those could have been addressed. But we ended up not defending the policy itself."

On the coal issue, Patel said: "I think the coal allocation, we have to give coal to somebody setting up a power project or a steel plant."

"We should have been bold enough to take up issues and say that what we have done is right and is in the interest of the nation and in the interest of industry and what we are now
saying, is going again back to what we should have said earlier. The net result is that we lost couple of years," he said.

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NHPC completes Rs 2,368 crore share buyback

State-run  NHPC has bought back equity worth Rs 2,368 crore under an offer that ended earlier this month after attracting more shares than targeted. NHPC bought back 123 crore equity shares at Rs 19.25 apiece, the company said today in a public announcement.

More than 142.6 crore shares were tendered in the offer, which started on November 29 and closed on December 12. The company purchased 110.7 crore shares worth more than Rs 2,130 crore from the government, equivalent to 90 per cent of the buyback. The government's stake in the company was reduced to 85.96 percent from 86.36 percent.

Also read: Boeing announces $10 bn buyback, raises dividend

The government plans to raise Rs 40,000 crore from the sale of shares in this financial year. The hydro-electricity generator was listed on the stock exchanges in 2009 after the government divested a 5 percent stake and the company issued fresh shares equivalent to 10 per cent of its equity.

NHPC has a generation capacity of 5,702 MW from 17 hydro-electric stations in the country. Seven plants with a combined capacity of 4,095 MW capacity are under construction. NHPC shares closed at Rs 18.70, up 1.36 percent, on the BSE on Friday.

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See market scaling new highs; upbeat on IT: Experts

Even though the market last week was volatile due to domestic and global events like the Reserve Bank of India (RBI) policy and US Fed announcements, Saurabh Mukherjea, Ambit Capital believes the Indian market is on the turn and will see greater confidence from both domestic and global investors.

For 2013, Ambit Capital has year-end Sensex target of 21,000.

According to Mukherjea money flowing into Indian funds, domestic or foreign is very clear, maybe on hopes of change in leadership at the centre and that there will be better economic management.

Similarly, Manish Sonthalia,  Motilal Oswal AMC is bullish on the market going forward. He thinks Nifty could scale to 7000 by March 2014. Their funds have high weightage in  Infosys and Tech Mahindra , says Sonthalia. Although for Mukherjea, amongst the big four IT players,  HCL Technologies is a highest conviction buy.

Mukherjea advocates owning Bajaj Auto , because not only is the stock trading below its five-year valuations but it is likely to benefit from good monsoons, from pre-election spending and from the weak rupee.

Commenting on the auto space, Sonthalia says, "We owned  Tata Motors just about 10-15 days back. But after capex increase announcement by the company, we have taken profits off the table in Tata Motors from our portfolios. I think we have preference for Maruti Suzuki ,  Hero Motocorp within the passenger car as well as two-wheeler space. Within the auto ancillary space we are highly overweight on Bosch , he adds"

Whereas, Mukherjea says at Ambit they remain buyers in Tata Motors and the stock continues to be in their model portfolio.

Excerpts of their interview on CNBC-TV18

Q: We had a curious week, we had a big rally on Wednesday post the Reserve Bank of India (RBI) policy, and then on Thursday we had crunching fall because of taper and Friday again we had a big move. In terms of your overall position on the market given the kind of volatile moves that we have seen, what would be your position now on the market?

Mukherjea: Without commenting on day-to-day movements which could be caused by flows of hot money which are difficult to read, I think the broader backdrop is becoming increasingly clear. There is inflows into India, there are Foreign Institutional Investors (FIIs) flows not just in India, there are flows into India specific FII funds. There are flows into the domestic mutual funds, these are strong flows now.

My reckoning is the domestic mutual funds would have seen anything like Rs 2000-3000 crore of inflows in the last next couple of months. And based on what I have heard from clients we are seeing something like USD 600-700 million flowing into India on the FII funds.

So this picture of money flowing into Indian funds, domestic or foreign is very clear. That in turn is being accompanied by confidence that there will be a change in leadership at the center in summer. There will be better economic management, the economy itself seems to have bottomed out and all of that is combining, to give India a fair bit of tailwind in terms of investor faith, in terms of faith in cyclical stories in small and midcaps and that narrative will continue through 2014.

India is an economy on the turn, a market on the turn and we will see a greater investor belief both foreign and domestic in the Indian market. 21000 remains our calendar end target for 2013, our 2014 target we are still working on.

Q: What is your prognosis on the market, do you think it is a bull market and the correction should be used to buy or would you have a slightly different view and how would you play this market going forward?

Sonthalia: I was a bit surprised with the negative movement on the market yesterday which is after the announcement of tapering by Fed but I think now that the events are all over and I maintain my positive stance on the markets and I think markets will look forward to a 7000 or thereabouts on the Nifty by March. So I maintain my bullish view on the markets.

Q: Is Infosys your top pick within the IT space or do you have other picks?

Sonthalia: Within the IT space we just have three names, we have Tata Consultancy Services ( TCS ), we have Infosys and we have Tech Mahindra . We are holding in some of our funds, high weightage on Infosys and Tech Mahindra and smaller portfolios. We have some what equal weightage on TCS , Infosys and Tech Mahindra.

Q: Which sectors are you bullish on?

Mukherjea: In auto, Bajaj Auto should be a core holding going into the year ahead. Yes Honda is really giving the Indian two-wheeler companies a run for their money but Bajaj is trading below its five year valuations, it will see benefits from the good monsoons, from the pre election spending that the ruling party will embark upon and it will also benefit from the weak rupee.

Q: What is your call on Tata Motors?

Mukherjea: It is relatively clear that the strength of the JLR story is broadly factored into Tata Motors share price. The big question mark now is is there a domestic recovery that will come through at some stage. Clearly the auto franchise, the passenger car franchise there is badly damaged and I am not sure if that is going to come back anytime in the foreseeable future. The question mark is on Automated Guided Vehicles (AGVs). To the extent we see a slow recovery over the five-six quarters; I think Tata Motors AGVs franchise should see some revival. We remain buyers of it; it continues to have a place on our model portfolio.

Q: What is your view in the auto space?

Sonthalia: We owned Tata Motors just about 10-15 days back so after this capex increase announcement by the company we have taken profits off the table in Tata Motors from our portfolios. I think we have preference for Maruti Suzuki, Hero Motocorp within the passenger car as well as two-wheeler space.

Within the auto ancillary space we are highly overweight on Bosch.

Q: What is your view on IT sector and HCL Technologies in particular?

Mukherjea: Our analyst has been very right on HCL Technologies, it has been a superb stock, great franchise over the last three years or so. Its remote infrastructure management franchise continues to grow from strength to strength. Axon was a visionary acquisition back in November 2008.

So amongst the big four IT players HCL Technologies is our highest conviction buy. We remain firmly committed to urging our clients to buying it. It is the only large cap IT Company which makes it to our model portfolio.

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Tesco says India investment based on biz considerations

UK-based retailer Tesco's decision to apply for opening multi-brand retail stores in India in partnership with the Tata's has been based on business considerations and not driven by any "external pressure".

"Since the FDI policy was liberalised, we have reviewed various possibilities and the current proposal is an outcome of these reviews," Tesco CEO Asia Trevor Masters said in a statement.
    
Tesco Plc became the first global retailer to seek the government's approval to set up multi-brand outlets in India with a plan to invest USD 110 million in partnership with the Tata's Trent.

Also read: Expect more global chains in multi-brand retail: Sharma

It has sought permission to acquire 50 percent in Trent's wholly-owned subsidiary Trent Hypermarket Ltd, that runs Star Bazaar stores. Masters further said: "Our decision to progress the applications has been based on business considerations and not driven by any external pressure".

He said that the company is working with Tata Group in India for over five years, supporting the development of their Star Bazaar stores. "We have always said we'd like to get more involved in this exciting market," he added.

In its super market stores, Tesco will sell 14 categories of products. The items to be sold at its stores include tea, coffee, vegetables, fruits, meat, fish, dairy products, wine, liquor, textiles, footwear, furniture,    lectronics and jewellery.

This is the first application for multi-brand retailing since the government allowed 51 percent foreign direct investment in the segment in September last year. It comes two months after Wal-Mart Stores and Bharti Enterprises said they would go their separate ways for retail operations in India.

Tesco proposes to operate stores in India under various banners, including Star Bazaar, Star Daily and Star Market, with the tag line reading, 'A Tata and Tesco Enterprise.'

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NCR continues to reign as largest office market

Knight Frank India today, launched its NCR office traction report focusing exclusively on the NCR market.The report talks about how the office market of a city with regard to new supply, vacancy trends, key tractions, industry wise absorption, micro-market split of absorption, rental trend and future outlook.

Key Takeaways:

• NCR office market exhibits strong traction despite economic uncertainties
• Office space take-up during the first nine months of 2013 has marginally exceeded those of the same period in 2012.
• Total absorption for the current year is likely to be in the range of 6.3-6.8 mnsq.ft.
• Share of other service sectors has almost doubled compared to 2011 with consulting & Media  companies largely contributing to the rise
• Gurgaon remains at the forefront of both new office space and absorption in the market
• PBD-Noida's share has reduced by 25% compared to 2012 due to a fall in the number of IT/ITeS transactions

Speaking about the research report Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India said, "The NCR office market has remained rock solid amidst economic woes. The fact that office space take-up during the first nine months of 2013 has marginally exceeded that of the same period in 2012 clearly indicates strong fundamentals in the NCR office market.Considering the current run rate of transactions and the level of pre-commitments, total absorption for the current year is likely to be in the range of 6.3-6.8 mn.Sq. ft. which is commendable given the weak global and domestic economic scenario".

Dr. Samantak Das, Chief Economist and Director-Research, Knight Frank India maintained," The IT/ITeS sector has been the primary driver of office space take up in the NCR market. While the beginning of the year showed a drastic dip in the sector's share, demand picked up during the next two quarters, though it was well below the peak levels of 2011. Going forward, we expect the sector's share to grow given the green shoots of recovery in the western economies."

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Choosing Financial Planner: Key points to note

Ronak Morjaria
Apnapaisa.com

Today if you ask any one, "From whom do you take investment advice?"
Most people will reply, " I seek investment advice from my agent, friends, relatives, newspapers, magazines or some TV shows." Rarely do you get to hear someone seeking investment advice from 'Financial Planner'. Today you have switched from 'vada pav' to 'Mc. Alu Tikki', 'laptop' to 'tablet / I-pad'. Similarly since the SEBI, Investment Adviser Regulations, 2013, are in place now; you should soon shift from 'Agent' to 'Financial Planner'. But you don't know who is a good Financial Planner? How to choose a good Financial Planner?

To sum it up in one line - A Financial Planner puts client's interest first, before his own interest; since he is getting paid for giving financial advice.

While choosing a Financial Planner you should consider some of the points below:

Licenses, credentials or other certifications:

Anyone who charges fees for giving investment advice needs to be registered with SEBI under Investment Adviser Regulations, 2013. Already few financial planners have got their registration certificate from SEBI. So, if your financial planner is charging fees, he should be registered as Investment Adviser with SEBI. You should also ask if the planner has additional certification like CFP (Certified Financial Planner), or any other similar certification or degree relating to this field.

Services offered:

You should know what kind of services the planner offers. Services can be goal based financial planning, estate planning, mutual fund distribution, insurance agency and PMS, etc. If the planner provides distribution services, then it is easy for you to implement the financial plan. But, on the other hand there can be bias in the recommendation given by the planner since he earns commission on the investment / insurance product you implement through him. So the planner must disclose the commission that he will earn if you implement the plan through him.

Fees:

Financial Planner charges fees for preparing a goal based financial plan for your financial future. Average fees for a financial plan ranges from Rs.15,000 – 25,000. The planner may charge additional fees for estate planning (preparing a will or incorporating Trust). You should also check that the planner does not have differential fee structure if you implement plan with him and if implement by yourself from a third party. The fees paid usually covers planning and review of the financial plan for a period of one year; so you should also ask about it before entering into a contract with the planner.

Basis of recommendation and research:

You should know on what basis the financial planner is recommending particular investment or insurance instrument. You should ask if the planner has a research team or he outsources research. This is important because the planner cannot recommend any investment / insurance without studying or knowing the investment / insurance product. Also, you should ask whether your risk profile would be assessed and considered for recommending investment.

Client-Planner interaction:

During the initial stage of data gathering and analyzing the financial situation, there is a lot of interaction between you and the planner. Apart from that, in the later stage after the plan presentation and implementation; the planner should review your portfolio and your goals periodically. You should ask how often your portfolio and the financial plan would be reviewed. Review is the most important part of the financial planning process.

These are the some of the points, which you should consider and know about the Financial Planner before choosing one for you. Some of you may not be aware that what is there in a Financial Plan and how does it look, so you can ask for a sample financial plan from the planner. Looking at the sample financial plan, you can get an overview and brief idea of what are the components of a financial plan. Since, now all Investment Advisers are under SEBI's eye; and thus they are obligated to comply with the regulations.

Now it's time to change, plan for your finances and find a good Financial Planner for yourself.

Apnapaisa is Online marketplace for loans & investments. Author can be reached at www.facebook.com/apnapaisa .

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Winter Solstice- Shortest day of the year in India

With fog in India extending up to Madhya Pradesh and Kolkata, those gasping for more daylight have good news. Today, countries in the Northern Hemisphere will witness winter solstice, which marks the shortest day and the longest night of the year as the sun reaches its southernmost point in the sky.

Officially, winter solstice marks the first day of the winter season. It is an astronomical phenomenon, occurring every year in December. The Sun`s elevation with respect to Earth has reached its lowest value with the North and South Pole of the Earth observing the longest night and the longest day, respectively. From now on, days will become longer in the Northern Hemisphere, bringing some respite to cities engulfed in fog in India.

After successive days of widespread fog in North India and Rajasthan, Kolkata is the latest city to be under its grip. Kolkata experienced the first fog of the season on Saturday morning. Fog has subsided in the northern plains but enveloped parts of Madhya Pradesh, including Bhopal and Gwalior.

Some facts about winter solstice

The term 'solstice' is derived from the Latin words 'sol' meaning Sun and 'sisto' which means 'stop.' On this day the Sun stops moving southward, pauses and begins its journey northward. The winter solstice occurs due to the Earth's axis of rotation. The Sun on this day is at the southernmost point in the sky, i.e. 23.5 degrees south of the Tropic of Cancer. The day is shortest in the Northern Hemisphere but that does not make it the coldest day of the year as well.  

picture courtesy- durangoarts.org

By: Skymetweather.com

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Textile Conclave 2013

Dec 14, 2013, 05.28 PM IST

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

Tags  textile, employment, FDI, Budget

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Textile Conclave 2013

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

Like this story, share it with millions of investors on M3

Textile Conclave 2013

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

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For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

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NSE Fin Wiz visits LT's Powai's campus

Dec 14, 2013, 05.09 PM IST

This week we are at the sprawling Powai campus of one of India's leading engineering and construction conglomerates Larsen and Toubro (L&T).

Tags  NSE Fin Wiz, CNBC-TV18, Powai, India, L&T, Feroze Azeez, Anand Rathi Financial Services, Harshvardhan Roongta, Roongta Securities

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NSE Fin Wiz visits L&T's Powai's campus

This week we are at the sprawling Powai campus of one of India's leading engineering and construction conglomerates Larsen and Toubro (L&T).

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NSE Fin Wiz visits L&T's Powai's campus

This week we are at the sprawling Powai campus of one of India's leading engineering and construction conglomerates Larsen and Toubro (L&T).

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This week we are at the sprawling Powai campus of one of India's leading engineering and construction conglomerates Larsen and Toubro (L&T).

Action in Larsen and Toubro

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New govt may have only 90 days to repair economy

R Jagannathan
Firstpost.com

It is good that the stock market euphoria is being gradually punctured due to bad economic data – rising consumer inflation and falling industrial growth.

With politics in election mode, there is uncertainty over short-term economic performance. But there is no guarantee we will have policy clarity even after the elections in April-May 2014. Even assuming we have a pro-growth, pro-reform government, the window of opportunity available to it will be open for a very short time: just 90 days.

This is because governments in India have to be in election mode almost every other year. Remember UPA-2, which was re-elected with a better mandate in 2009? Within one year, it had lost its footing, and has never recovered from that.

The government elected in May 2014 will have just 90 days to get its act right because the rating agencies will be holding a gun to its head. And it will have to act fast despite knowing that the outgoing UPA has booby-trapped the economy by legislating all kinds of bad laws.

Both Moody's and Standard & Poors (S&P) have warned of a rating downgrade once the next government comes to power. Moody's gave India a warning two weeks ago that if growth does not revive, inflation does not come down, and the fiscal deficit is not contained, India's sovereign credit rating will be downgraded. More specifically, it warned that the government should not be adopting policies that harm fiscal prospects or make banks run up more bad loans.

Earlier, S&P said that it was holding back on a likely downgrade to see if the next government was able to come to grips with the country's economic problems. If it does not, India's rating will move below BBB- the lowest investment-grade rating, below which Indian borrowings will be treated as junk. When a country's investment rating falls below BBB-, large foreign pension and mutual funds cannot invest in these markets, and lenders will start charging more from Indian borrowers. This will raise borrowing costs for everyone, and slow down growth further. What this boils down to is this: the next government will have to behave as though it is 1991 and act very fast. In its very first budget it will have to signal major economic liberalisation and big policy changes. This could mean freeing oil, gas and coal prices, opening up foreign investment in more areas, selling off majority stakes in government companies, and reducing government rules and regulations, among other things. If this is not done, a rating downgrade will be like a noose around the next government's neck.

Any government, whether it is one led by the BJP, the Congress or even a regional party, has to do everything in its first budget - which can be expected around July 2014. Otherwise, it will miss the bus. This is because even before it settles down, it will be up against the state assembly election cycle, making unpopular decisions impossible to implement.

For example, soon after the Lok Sabha elections will come the Maharashtra assembly elections in October, where the BJP will find it difficult to win if the Thackeray cousins – Raj and Uddhav – are going to be fighting one another. The Jharkhand elections are also due in December 2014. In 2015, there will be the Bihar elections, where the BJP will be trying to oust Nitish Kumar. And so on.

If the next government does not signal a dramatic enough change in economic policies in its first 90 days, the window of opportunity will close.

No government today can hope to have a honeymoon period of more than six months to one year when the electorate will forgive tough decisions. This is why UPA-2 faced enormous problems after wasting its entire first year (2009-10) doing nothing. After that one scam after another was unearthed, and soon the government lost control of the economic agenda.

Even in the 1990s, when PV Narasimha Rao and Manmohan Singh earned their reputations as reformers, the 1992 budget signalled the slowing of reforms. And after the Congress party faced state-level electoral reverses in 1993, reforms were brushed under the carpet.

The moral of the story is simple: given India's regular appointment with state-level elections, new governments at the centre have very little time to perform.

If the big decisions are not taken in 90 days after a new government is formed, it will face the same troubles as UPA-2. Speed is the only way to reform and economic rejuvenation.

With every passing year, public patience is shortening. Honeymoon periods for governments are shortening.

The writer is editor-in-chief, digital and publishing, Network18 Group

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Storyboard Must Follow: Check it out

Dec 14, 2013, 05.18 PM IST

This week, we have the digital head of iContract Prashanth Challapali, and he's recommending whom you should follow on Twitter.

Tags  iContract, Prashanth Challapali, Twitter

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Storyboard Must Follow: Check it out

This week, we have the digital head of iContract Prashanth Challapali, and he's recommending whom you should follow on Twitter.

Like this story, share it with millions of investors on M3

Storyboard Must Follow: Check it out

This week, we have the digital head of iContract Prashanth Challapali, and he's recommending whom you should follow on Twitter.

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This week, we have the digital head of iContract Prashanth Challapali, and he's recommending whom you should follow on Twitter.

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Storybaord Web Check: Heidicohen.com

Dec 14, 2013, 05.19 PM IST

On Web Check this week, we have the CMO of Big Bazaar, Akshay Mehrotra. And he's recommending a website that help curate actionable marketing content.

Tags  Web Check, Big Bazaar, Akshay Mehrotra

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Storybaord Web Check: Heidicohen.com

On Web Check this week, we have the CMO of Big Bazaar, Akshay Mehrotra. And he's recommending a website that help curate actionable marketing content.

Like this story, share it with millions of investors on M3

Storybaord Web Check: Heidicohen.com

On Web Check this week, we have the CMO of Big Bazaar, Akshay Mehrotra. And he's recommending a website that help curate actionable marketing content.

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On Web Check this week, we have the CMO of Big Bazaar, Akshay Mehrotra. And he's recommending a website that help curate actionable marketing content.

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Meet Karthik Sharma: Maxus South Asia's new CEO

Dec 14, 2013, 05.22 PM IST

This week, GroupM finally announced its new Managing Director for Maxus South Asia. Agency veteran Karthik Sharma will take over the reigns from January next year, as he succeeds Ajit Varghese, who was promoted to CEO, Maxus Asia Pacific in September.

Tags  GroupM, Karthik Sharma, Maxus, Ajit Varghese

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Meet Karthik Sharma: Maxus South Asia's new CEO

This week, GroupM finally announced its new Managing Director for Maxus South Asia. Agency veteran Karthik Sharma will take over the reigns from January next year, as he succeeds Ajit Varghese, who was promoted to CEO, Maxus Asia Pacific in September.

Like this story, share it with millions of investors on M3

Meet Karthik Sharma: Maxus South Asia's new CEO

This week, GroupM finally announced its new Managing Director for Maxus South Asia. Agency veteran Karthik Sharma will take over the reigns from January next year, as he succeeds Ajit Varghese, who was promoted to CEO, Maxus Asia Pacific in September.

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This week, GroupM finally announced its new Managing Director for Maxus South Asia. Agency veteran Karthik Sharma will take over the reigns from January next year, as he succeeds Ajit Varghese, who was promoted to CEO, Maxus Asia Pacific in September.

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How to maintain sustainable growth? Storyboard debate

Dec 14, 2013, 05.23 PM IST

The topic for WARC and JWT's panel discussion which was held in New Delhi this week was something that the entire industry has been discussing for a while. When resources are limited and purses are being tightened how do you maintain sustainable growth?

Tags  WARC, JWT, Louise Ainsworth, Storyboard

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How to maintain sustainable growth? Storyboard debate

The topic for WARC and JWT's panel discussion which was held in New Delhi this week was something that the entire industry has been discussing for a while. When resources are limited and purses are being tightened how do you maintain sustainable growth?

Like this story, share it with millions of investors on M3

How to maintain sustainable growth? Storyboard debate

The topic for WARC and JWT's panel discussion which was held in New Delhi this week was something that the entire industry has been discussing for a while. When resources are limited and purses are being tightened how do you maintain sustainable growth?

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The topic for WARC and JWT's panel discussion which was held in New Delhi this week was something that the entire industry has been discussing for a while. When resources are limited and purses are being tightened how do you maintain sustainable growth?

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West Jet: 'Christmas Miracle'

Dec 14, 2013, 05.24 PM IST

Now, here is an activation by Canadian airline West Jet that truly defines the Christmas Spirit. A heartwarming activation that's sure to leave good brand memories and is already a viral success.

Tags  Canadian airline, West Jet, Christmas

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West Jet: 'Christmas Miracle'

Now, here is an activation by Canadian airline West Jet that truly defines the Christmas Spirit. A heartwarming activation that's sure to leave good brand memories and is already a viral success.

Like this story, share it with millions of investors on M3

West Jet: 'Christmas Miracle'

Now, here is an activation by Canadian airline West Jet that truly defines the Christmas Spirit. A heartwarming activation that's sure to leave good brand memories and is already a viral success.

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Now, here is an activation by Canadian airline West Jet that truly defines the Christmas Spirit. A heartwarming activation that's sure to leave good brand memories and is already a viral success.

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LIME IIM Indore: The watch maker's challenge

Dec 14, 2013, 05.26 PM IST

The case study from IIM Indore comes from Swiss luxury watch brand Frédérique Constant Geneve. The brand launched in India four years ago and competes with the likes of Rolex and Omega who have been present here for around 20 years.

Tags  Lessons in Marketing Excellence, Pavni Mittal, IIM Indore, Frédérique Constant Geneve, Rolex, Omega, B-Schools, watch

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LIME IIM Indore: The watch maker's challenge

The case study from IIM Indore comes from Swiss luxury watch brand Frédérique Constant Geneve. The brand launched in India four years ago and competes with the likes of Rolex and Omega who have been present here for around 20 years.

Like this story, share it with millions of investors on M3

LIME IIM Indore: The watch maker's challenge

The case study from IIM Indore comes from Swiss luxury watch brand Frédérique Constant Geneve. The brand launched in India four years ago and competes with the likes of Rolex and Omega who have been present here for around 20 years.

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The case study from IIM Indore comes from Swiss luxury watch brand Frédérique Constant Geneve. The brand launched in India four years ago and competes with the likes of Rolex and Omega who have been present here for around 20 years.

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Artha Energy project to build its portfolio to 25MW in 2yrs

Dec 14, 2013, 05.32 PM IST

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Tags  Anirudh Damani, Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network, Venture Nursery, Artha Venture Partners, K Damani Group of Companies

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Artha Energy project to build its portfolio to 25MW in 2yrs

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Like this story, share it with millions of investors on M3

Artha Energy project to build its portfolio to 25MW in 2yrs

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

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Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Watch this space.....video will be uploaded shortly.

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