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The Week That Was

India Infoline News Service | Mumbai |

The Indian economy seems to show some signs of revival. The latest IIP reading was a pleasant surprise.

Top Stories

IIFL Public Issue of Secured Redeemable NCDs opens on September 17, 2013

India Infoline Finance Limited, an NBFC subsidiary of India Infoline Limited, will launch a Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each ("NCDs") aggregating up to Rs 5,250 million ("Base Issue Size"), with an option to retain oversubscription up to Rs 5,250 million, aggregating to a total upto Rs 10,500 mn (the "Over all Issue Size"), on September 17, 2013. The NCDs have an option of monthly and annual interest payment and the yield works out to 12.68% p.a. for the monthly interest option and 12%p.a. for the annual interest option. The face value of NCD is Rs. 1,000 and minimum application is Rs. 5,000 (5 NCDs). The NCDs have an investment horizon of 3 years and 5 years. The issue closes on October 4, 2013.

The NCDs proposed under this Issue have been rated ‘CARE AA’[Double A] by CARE and ‘BWR AA (Outlook:Stable)' by Brickwork. The rating indicates instruments are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The NCDs will be listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and will have a tradable lot size of 1 NCD...Read More


BJP announces Narendra Modi as PM candidate

Narendra Modi is set to be named as Bharatiya Janata Party's Prime Ministerial candidate today evening. According to reports, LK Advani has informed Sushma Swaraj and Rajnath Singh that he will not be interested in working for the party if Modi is projected as the party's prime ministerial candidate for the 2014 Lok Sabha elections. BJP President Rajnath Singh also calls Shriromani Akali Dal chief Parkash Singh Badal and informs him that Narendra Modi will be the party's prime ministerial candidate for the 2014 Lok Sabha elections, says report. Report said that BJP President calls Shiv Sena chief Uddhav Thackeray to inform him that BJP is nominating Narendra Modi as the prime ministerial candidate.Earlier on Thursday, Advani was the last person in the party standing against Modi's immediate elevation. While several of his colleagues such as Murli Manohar Joshi and Sushma Swaraj was in line with the majority decision, says report.

Pleasant surprise...July IIP at 2.6%

The Indian economy seems to show some signs of revival. The latest IIP reading was a pleasant surprise. The General Index for the month of July 2013 stands at 171.5, which is 2.6% higher as compared to the level in the month of July 2012. The cumulative growth for the period April-July 2013-14 over the corresponding period of the previous year stands at (-) 0.2%. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2013 stand at 117.0, 182.7 and 164.5 respectively, with the corresponding growth rates of (-) 2.3%, 3.0% and 5.2% as compared to July 2012 (Statement I). The cumulative growth in the three sectors during April-July 2013-14 over the corresponding period of 2012-13 has been (-) 4.0%, (-) 0.2% and 3.9% respectively. In terms of industries, eleven (11) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of July 2013 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Electrical machinery & apparatus n.e.c.’ has shown the highest positive growth of 83.6%, followed by 44.0% in ‘Wearing apparel; dressing and dyeing of fur’ and 16.5% in ‘Luggage, handbags, saddlery, harness & footwear; tanning and dressing of leather products’. On the other hand, the industry group ‘Radio, TV and communication equipment & apparatus’ has shown a negative growth of 20.8% followed by 11.3% in ‘Furniture; manufacturing n.e.c.’ and 10.6% in ‘Machinery and equipment n.e.c.’...Read More

August CPI inflation at 9.52%

IIP: Temporary rise, not a sustained turnaround


Banking sector must live up to the challenges: CII-KPMG Report

In view of the prevailing scenario, the financial services industry must explore the potential of some new-generation technologies such as Social Media, Mobile, Analytics and Cloud (SMAC), according to a CII-KPMG Report which was unveiled during the Banking Conclave 2013 on 13 September 2013 in Kolkata. With the Indian banking sector at an inflexion point, the CII-KPMG Report notes that the banking sector must live up to the challenges, particularly in view of the government’s ambitious financial inclusion plans and its decision to spend substantially on infrastructure building. The CII-KPMG Report attempts to capture the current scenario and recommends strategies for compliance and governance, operating efficiencies, managing market risks, financial inclusion, and technology in banking. The increased commoditization of service offerings from banks places incessant demand on them to adopt variable cost structures, increase revenue, improve products and services, expand market share and also achieve nonlinear revenue growth, it says.

Maneuvering through Turbulence: Emerging strategies

Friday the 13th…Indices flatten after choppy trade 

It was a choppy day of trade with global cues mostly lower. The action seemed to be more outside the market with attention on the announcement of Narendra Modi as BJP’s prime ministerial candidate expected later in the day. Given the cautious situation in the market after a recent rally, investors chose to ignore better than expected July industrial production data and CPI date. The country’s industrial production, which declined for the last two months, saw a growth of 2.6% for the month of July following an improvement in the manufacturing and power sectors. The Consumer Price Index based inflation also moderated to 9.52% in August from 9.64% in July, following a fall in inflation for most items, excluding vegetables. However, for urban areas, CPI-based inflation rose to 10.32% in August from 10.26% in July. For rural areas, it fell from 9.14% to 8.93%. India's economy is expected to grow 5.3% this fiscal year, the prime minister's economic advisory panel said on Friday, sharply lower than an earlier estimate of 6.4% but higher than the previous year. Coming back to today’s trading session, the BSE realty, power, capital goods and auto index were among the major gainers. Even the BSE mid-cap and the small-cap index rose by 0.6% each. On the other hand, BSE consumer durables, IT and the telecom index were among the top laggards. Finally, BSE Sensex closed at 19,732 down 49 points, while NSE Nifty closed flat at 5,850...Read More

Weekly: Sensex, Nifty gains for 2nd straight week
 

News In focus

Indians vote Mumbai as World’s 2nd best city: Ipsos

Indians vote Singapore as the World’s Best City followed by Mumbai, New York, London, and Abu Dhabi which makes to list of top five, according to the latest study by leading market research company Ipsos. Biswarup Banerjee, Head Marketing Communication, Ipsos in India said, "Mumbai is the commercial and entertainment capital of India and it is also the most populous city in India. No wonder people across India who aspire to make it big have voted Mumbai, the city of dreams as the best place to do business and live in." New York City, London, Paris, Abu Dhabi and Sydney have been voted the world’s favourite cities in the largest ever global survey of its kind by Ipsos, covering 18,147 people in 24 countries. Respondents chose from a list of 48 major cities and asked which ones were the best to do business in, which were best to live in and which people most wanted to visit. Each city was given an overall score based on the sum of responses across all three categories. The individual winners of each category globally were: New York (Best place to do business), Zurich (Best place to live) and Paris (Best place to visit)...Read More

Mumbai launches approximately 18,000 units during H1 2013: Cushman & Wakefield

Mumbai’s residential market notes mixed sentiments in H1 2013: CBRE

Hiring activity dips for all sectors in August: Naukri

The Naukri Job Speak index at 1206, was 9% lower in August’ 13 when compared to July’ 13, the maximum dip witnessed for the year, however, at the same time, the index shows an increase of 5% when compared to August’12. All the top metros witnessed a dip in hiring levels indicating caution in the business and recruiting environment, with the highest dip in Kolkata .For most of the sectors also, the hiring activity has taken a dive on a month on month basis. Pharma has suffered the highest dip with the job index going down by 14% in Aug’13 over July’13. However on a y-o-y basis, maximum jobs were created in the ITES sector with the jobspeak index showing growth of 28% over Aug, last year...Read More

Audi A3 Cabriolet: Sporty, elegant and compact

Sporty, elegant and multi-faceted – Audi presents the new A3 Cabriolet. The compact four-seater impresses at first glance with its flowing lines and soft top. It is also at the top of its class technically – with systematic lightweight design, new engines, multi-faceted networking and high-performance assistance systems.

Exterior design

The new Audi A3 Cabriolet has grown compared to the previous model: its length increased from 4.24 to 4.42 meters (13.91 to 14.50 ft), its wheelbase from 2.58 to 2.60 meters (8.46 to 8.53 ft) and its width from 1.77 to 1.79 meters (5.81 to 5.87 ft). Only its height (1.41 meters [4.63 ft]) was reduced by 15 millimeters (0.59 in). This gives the four-seat convertible a more elegant and sporty look on the road. Luggage capacity grew by 60 liters (2.12 cubic ft), and it is easier to load. The wheel housings can handle wheels up to 19 inches in size. The front of the Audi A3 Cabriolet is characterized by the Singleframe radiator grille. The flat headlights give it a resolute look; they emphasize the horizontal styling and the air intakes in the bumper. Audi offers headlights with LED technology as an option; they are the only LED headlights in the compact segment to offer variable headlight leveling control. The rear overhang plays a key role in the harmonious proportions of the two-door car. The windshield frame is made of aluminum – and an aluminum-look trim strip runs around the entire car. On the flanks, the design features a taut tornado line and contoured sheet metal surfaces that create a fascinating interplay of light and shadow...Read More


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