Wednesday, July 23, 2014

Wednesday, 23rd July, 2014- SENSEX GOES BEYOND 26,000 MARK!

There was a leap in the Sensex index; it gained more than 300 points and closed at 26026. Nifty  too gained substantially and went up by 84 points, to close at 7768.

Among the leading gainers, in Sensex,  Bharti Airtel gained the most (4.81%). Others to follow were: Reliance Industries (3.35%); HDFC (2.93%); TCS (2.71%); and Hindalco (2.62%). The following were the leading losers in Sensex:  Maruti Suzuki (1%) and L&T (nearly 1%)

In Nifty,  Bharti Airtel was the top gainer (5%), followed by Reliance Industries and HDFC, TCS and Dr.Reddy’s (each 3%). Among the losers, Maruti Suzuki lost a little more than 1%, whereas  L&T, Punjab National Bank and Mahindra & Mahindra lost close to 1% each.

It is learnt that among the public sector undertakings, as many as 79 are in the red! The government has invested more than Rs.1,57,000 crore!

The net profit of Axis Bank, for the quarter ending June, is up by 18%. It has earned a net profit of Rs.1,667.7 crore for the quarter, compared to Rs.1,408.9 crore during the corresponding period in the previous year. During the quarter, the bank’s loan portfolio registered a substantial growth.  The Executive Director and Head of the Corporate Centre of t he bank said: “While we have been hoping that the economic revival will kick in, we expect it to come in the fiscal year 2016. The bank will continue to see credit growth of 20%, better than the system.”

The Reserve Bank of India has announced that the ceiling of Rs.1 lakh on loans for non-agricultural purposes, against pledged gold, is being relaxed. It has, however, left it to the individual banks to decide on the lending cap. 


Though there has been an all round increase in the price of vegetables, tomato has pushed all other vegetables far behind, thus putting them to shame. Tomato seems well settled, at Rs.80 per kilo and, may be, it will cross the century mark.

If this trend continues, it will not be a surprise to see some of the hotels and restaurants, if not all, exhibiting their price-lists as shown below!


Soup (other vegetables)   -Rs.40/-

Soup (Tomato) – Rs.80/-

Other Baths – Rs.80/-

Tomato Bath – Rs.120/-

In the circumstances, if a family of four happen s to go to a hotel and want to enjoy the ‘luxury’ of tomato soup and tomato bath, they will have to shell out a considerable amount of extra cash! It will,, therefore, be better to think twice before toying with an idea of enjoying anything connected with tomato. Gone are the days when, in almost every household, the same tomato was used in everything, like sambar, rasam, thokku, pickles, etc.! Will those days come back!


Market is still upbeat! Sensex index has moved up considerably and, at the end of the day, it was 25,715, up by 74 points over last week closing. Nifty also was up by 20 points and closed at 7684.

Some ‘Pundits’ feel the market will only witness upward trends hereafter. Let us keep our fingers crossed! Nobody in the world can predict, accurately, the birth and death of an individual. Similar is the case with share market predictions. We cannot take any prediction, on its face value, however great and experienced may be the pundit who ‘gives predictions,’ including the writer who, however, does not claim himself a pundit. 

HDFC, Reliance Industries and Asian Paints gained more than 2% over the previous closing. SBI gained a little over 1.5%, while Indusind Bank gained more than 3%.

Thursday, February 21, 2013

Azim's pledge to philanthropy!

Corporate/General News

Azim Premji pledges more contribution to philanthropy!

Air Asia and Tatas form a new Joint Venture!

Posco India is to get 1554 acres from Odisha government for setting up a mega steel plant in Jagatsinghpur district. The government has already handed over 546 acres and very soon this additional 1554 acres will be given to the company.
Export of agri-seeds from the country is likely to be doubled to Rs.1000crores in the next 2-3 years, because, as many as 38 varieties from the country have been registered in the OECD list, NSA said.

There is a possibility of an early polls this year, feels M.Venkaiah Naidu, senior BJP leader. He says, “Congress- led UPA government was seriously thinking of going for an early election after presenting a pro-people budget so that it can fetch votes”.

“To tackle the hard technology problems facing business today”, Infosys Limited and Australia’s premier ICT research organization NICTA have signed a joint collaboration agreement. The potential outcome of the collaboration, the companies feel, could see ageing technology systems readily modernized for the cloud. “Logistics department could find faster and greener transport routes” they feel.

Petrol and diesel prices have been hiked by Rs.1.50 per litre and 45 paise per litre respectively.

With a view to pacify the lenders of Kingfisher Airlines, the parent company UB Group has said that it would find an early solution to the financial mess of the Airlines.

The India Australia series looks to turn out to be a money spinner for broadcaster ‘Star Sports’. It has been able to rope in top advertisers including Hero Motor Corp. It may be recalled that Hero Motor Corp has recently decided to sever the relationship with IPL and Mumbai Indians.

Ford India has launched a new variant of its sport utility vehicle “Endeavour”, which is priced at Rs.23.2 lakhs ex-showroom, New Delhi. This launch comes when the company is trying to increase its reach in the country to boost sales. The company has also announced its association with National Geographic Channel for a 5-part series featuring 5 celebrities and the latest variant “Endeavour Alterrain”.

Wipro Chairman Azim Premji has pledged to contribute more of his wealth to philanthropic activities. This will be through the Azim Premji Foundation. The exact amount he is going to contribute has not been specified. However, it may be recalled that in the year 2010, he donated around $2 billion representing 8.7% of the total stock of Wipro from his personal holding for philanthropy.

Unilever, a major FMCG, is to set up a deodorant manufacturing plant in Khamgaon, Maharashtra. For this purpose, the company is proposing to invest Rs.360 crores.

Air Asia and Tatas join to form a new venture. And it is reported that Chennai will house the headquarters of the joint venture.