Biz News  
Vol‐ I 

Published by 
JC. SADANANDA NAVADA 
National Director – Business 
30th Jan 2011 
 

   
Technology at work for you 
Connecting your Business to the Technology you 
needed. 
Business Directory  
JCI  India  is  all  set  to  publish  a  separate  web  site  for      National 
Business  Directory  for  the  members.      Please  send  the  required 
information to NHQ.  Your business information will be published in 
JCI  India  Business  Directory  which  will  be  published  through  web 
site www.jcibizindia    

JCI India Biz News  Dear Officers 
  Greetings from the National Director Business 
Markets open lower, metal
shares lose sheen 2011 is a special year for all of us in business. 

Markets opened lower on back of weak cues

The  business  area  is  all  set  to  launch  a  number  of 
from the global markets. The Sensex fell 134 programs  which  will  be  of  practical  help  to  all  our 
points, at 18,845 and the Nifty dropped 39
points, 5652. Technical analysts said markets members.   
will continue to remain volatile until Nifty holds
above 5710, which is also the trend dictating
level  Apart  from  the  business  directory,  await  details  on 
“SYPS”  (Sharpen  Your  Professional  Skills)  a  training 
Rupee sheds 17 paise against workshop  exclusively  designed  for  Advocates  and  Legal 
dollar
Consultants which is happening on April 15,16 and 17” at 
The  rupee  depreciated  by  17  paise  to  Rs 
UDUPI host by JCI KALLIANPURA, ZONE XV. Circulate this 
45.62  a  dollar  in  early  trade  this  week.  
Dealers  said  dollar's  gains  against  other  info  to  all  the  advocates  and  legal  consultants  in  your 
currencies  and  a  weak  opening  at  Chapter and await the launch details next week.   
bourses weighed on the rupee sentiment. 
 
 We seek your cooperation in making this area as vibrant 
Asia to lead global growth
charts in 2011 and dynamic as your business” 

Asia's rapidly developing economies will lead

 
global growth in 2011 despite cooling slightly  
from last year, a Reuters poll showed, far With every good wish 
outpacing the uneven recovery seen in rich-
world peers. The survey of around 500  
economists across the world showed China JC. SADANANDA NAVADA 
again topping the economic expansion charts ND BUSINESS 
this year, as well as promising signs that the
United States' economic revival will gain Jcsada15@rediffmail.com 
traction this year.

JCI India – Biz News 
 

   

JCI IIndia Biz News 
 

ICIC
CI Bank geets mandate for
Air India
I loan
n refinanc
ce

State-rrun Air India has

h given ICIC
CI Bank the
manda ate to refinancce loans to purchase
p 21
Airbuss A 320 aircraft worth Rs 5,500 crore.
Oil low
wer ahead
d of US en
nergy res
serves datta
Air Inndia's board also approve ed delivery  
financiing of three B 777-300 ER aircraft and Oil was lower in Asiann trade last w
week as invesstors awaited  the release o of 
one GE-90 spare eng gine with US Exim
E support a widely watched US governmentt energy inventory report,, analysts said d. 
worth $475 million. Citibank ha as got the
manda 8 per cent of the amount,
ate to finance 85
New  Yoork's  main  coontract,  lightt  sweet  crude  for  Febrruary  delivery, 
with Sttandard Charteered securing the rest. dropped 15 cents to $ $90.71 a barrrel and Brent North Sea crrude for Marcch 
delivery was off 15 ceents to $98.011. 
Stock
ks to watch
h: Biocon, Kotak
K  
Mahindra Bank, Yes Bank
 

Biocon
n will be closely watching on back of
quarte
erly results and
d from the ban
nking space Bajaj Auto
A net jumps
j 40
0% at Rs 667
6 crore
Kotak Mahindra Ban nk and Yes Baank will also
be onn the buzzer are due to report their
quarte
erly results. Bajaj Autoo, India’s seconnd-largest two--wheeler maker, today reporte ed a 40.42 per
cent rise in
i third-quarterr standalone neet profit on the back of higher retail demand
Hindusstan Zinc may also react to third
t quarter during the
e festive period
d.
resultss as net surged 12% at Rs R 1,289 cr.
Bergerr paints will alsso be in focus
s in opening The Punee-based compa any posted a neet profit of Rs66
67 crore, marg
ginally ahead off
trades as it plans 300
0 exclusive reta
ail outlets. the average street estim
mate of Rs635 crore.
c The com mpany had postted a net profit
of Rs475 crore in the ye
ear-ago quarterr.
 

FIIs ne
et buyers of Rs 925 cr in F&
&O
ƒ T
The foreign institutional investo
ors (FIIs) were neet buyers of Rs 9
925.36 crore in 
f
futures and options segments on Wednesday. A
According to the data released b
by 
t
the NSE, FIIs we re net buyers off index futures to
o the tune of Rs 195.51 crore, 
w
while they bought index optionss worth Rs 305.7
70 crore. 

JCI India –– Biz New
ws
 

 
Silve
er spurts fu
urther, gold also gain
ns 
  Silver prices
p shot up fu
urther at the bullion market here
e today due to h
heavy
speculaative and stockkist buying trig ggered by bulliish overseas trend.
  Gold also
a gained on better
b off-take frrom jewellers ass well as good local
buying inte
erest.
 
Silver ready
r (.999 fineness) strengthenned by Rs 495 per kg to end at
a Rs
R 45,010. 
45,505 from last week closing level of Rs
 
Smalll sugar rema
ains sluggish
h on lower de
emand
 
Small sugar prices continue to ru
ule weak at the Vashi(Mummbai)
  Whole
esale market here
h today onn fewer dema and from reta
ailers
couple
ed with adequa
ate stocck positiions.
 
Meanwwhile, medium sugar variety moved up slightly owing to stray
s C
Crude oil fu
utures declline on glo
obal cues
  buying
g support.

  Non-basmati ric
ce moves up
p on retailers demand

  In resttricted activity, non-basmati rice prices firm

med by Rs 25 5 per
quintal on the whole esale grains market
m today following
f a risse in    Crude  oil 
o prices  declined  by  Rs  6 
  retailers dema and aga
ainst lowwer arrivvals. o  Rs  4,212  per 
to p barrel  in  futures  trade  today,  as 
Traderrs said pick up
p in retailers demand,
d amid restricted arrivvals,
sppeculators  red
duced  their  position  on  the 
t back  of 
  led to rise in non-basmati rice prrices. In th
he national cap pital, w
weakening  global  trend.      At  the  Multi  Commodity 
permaal raw,wand and IR-8 were enquired higherr by Rs 25 eacch to Exchange  counter,  crude  oil  for  February‐month 
  Rs 1,8875-1,925, Rs 2,025-2,175 anda Rs 1,745--1,770 per quiintal, delivery declineed by Rs 6, or  0.14 per cent,, to Rs 4,212 
respecctively. per barrel with a business turnover of 27 lotts.  
 

  Onio
on, tomatto prices drop marrginally in
n
  Delh
hi.
The slid
ding wholesale prices
p of onion pushed
p down its retail rate by Rs 10 a
  kg in Delhi
D and Mumba ai today, providing some relief to t the consumerrs who
had beeen moved to tears due to itts skyrocketing cost. Onion prices
  dropped to Rs 30-50 a kg in retail in the
e national capita
al and Mumbai froom Rs
40-60 a kg yesterday, traders said. Bu ut, Kolkata and d Chennai werre not
  so lucky where the vegetable
v mainntained yesterd day's level of Rs
R 45-
60 per kg in retail, they said. Retail
R price of tomato, which h has
  ed into a contesst off late with onion, also low
entere wered by Rs 10 0 a kg
in Delh
hi and Kolkata.. It was availabble at Rs 40-50 a kg in Delhi and
a at
Rs 20--30 a kg in the Eastern metro opolis 
 
Selec
ct pulses sttrengthen as demand picks
p up
 
Select comm modities prices strengthened
s up
p to Rs 300 pe er quintal on thhe
  wholesale pu ulses market tod day on rising demand
d from reetailers in view of
marriage seasson, amid fall in arrivals. Markett analysts said rising demand froom
millers helped
d select commod dities prices to strengthen. In thhe national capita
al,
  moong and itss dal chilka local rose by Rs 50 and
a Rs 100 to Rs 4,050-4,450 an nd
Rs 4,950-5,3550, while dhoya local and best qu uality traded high
her Rs 100 each to
Rs 5,200
0-5,400 and
d Rs 5
5,700-5,900 per al.
quinta
 
Masoor smalll and bold pricees gained Rs 50 0 each to Rs 3,4 450-3,650 and R
Rs
3,600-3,850, while its dal loccal and best qu
uality traded hig
gher by the samme
  margin to Rs 4200-44300 and R
Rs 4450-47500 per quinta
al.

  In line with a general

g firming trend, kabli gram small finished higher
h at Rs 4,10
00-
5,500 against last close of Rs 4,000-5,200 perr quintal.
JCI India – Biz News 

Cottonseed futures fell on profit taking  
Cottonseed oilcake prices fell by Rs 22 to Rs 1,230 per quintal in futures trading today, as 
all‐round selling witnessed. Market men said traders preferred to book profits at existing 
higher  levels  against  mounting  stocks,  which  brought  down  the  cottonseed  oilcake 
prices.  At the National Commodity and Derivatives Exchange, cottonseed prices for May 
dropped by Rs 22 or 1.76 per cent to Rs 1,230 per quintal, showing an open interest of 
1,450 lots.  
 
Cashew declines on subdued demand
 
 
Cashew prices declined by Rs 5 per kg in the national capital today largely due to subdued demand from local parties and stockiest.
  Comfortable stocks following increased arrivals   from producing belts also weighed on the cashew prices.
 
  Cashew kernel (No 180, 210, 240 and 320) prices fell   by Rs 5 to settle at Rs 650-660, Rs 590-600, Rs 535-545 and Rs 440-460 per
kg, respectively  
 
  
 
  Star Bazaar pats itself on slowdown strategy 

  Star Bazaar, the chain run by Tata‐owned Trent Hypermarket, says it used the economic 
slowdown  to  book  properties  when  prices  were  down,  allowing  it  now  to  open  more 
stores. 
  Rentals  of  retail  properties  were  30‐35  per  cent  lower  than  their  peak  during  the 
economic slowdown of 2008‐09, as retailers shut stores and scaled back their expansion 
  due to lower footfalls. 
Starting  the  first  store  in  Ahmedabad  in  2004,  Trent  Hypermarket  runs  10  Star  Bazaar 
stores and plans to double the count by the end of 2011. Hypermarkets are larger versions 
 
of  supermarkets,  mostly  stocking  food  and  grocery,  apparel  and  general  merchandise, 
among other products 
  

  Steel, iron prices end flat in thin trade

Steady conditions persisted on the wholesale steel and iron market today as prices continued to trade in a tight range in the absence of
  buying support and settled around previous levels. Traders said restricted buying activity mainly kept steel prices around previous levels.
Following are today's quotations in Rs per tonne: CTD saria (Kamdhenu) 8-mm, 41,200, 10-mm, 42,900, 12-mm 41,600, 16-25 mm
  39,450 Saria Jai Bharat (ISO-9002) 8-mm 38,850, 10 mm 38,050, 12-mm 37,250, 16-25mm 37,250 Amba saria (ISO-9002) 8-mm
37,700, 10-mm 37,000, 12-mm 36,400, 16-25-mm 36,200 Amba shakti: (TMT) 8-mm 37,000, 10 mm 36,000, 12 mm 35,400, 16 to 25 mm
 

Copper remains up on global cues

Copper prices were up by Rs 2 per kg on the local non-ferrous metal market today on increased industrial demand
amid firming trend at London Metal Exchange (LME).

Traders said increased off take by consuming industries and reports of firming trend at LME, pushed up copper
prices. Meanwhile, copper for three-month gained 0.3 per cent to $9,754 a tonne on the LME. In the national capital,
copper wire scrap, copper wire bar and copper mixed scrap were remained in industrial demand and added Rs 2
each to Rs 478, Rs 501 and Rs 462 per kg, respectively.

Menthol prices rose by 5 per kg in the national capital today on rising demand from pharma and consuming units.

Tight stocks due to restricted supplies from producing belts also influenced the prices.
Menthol bold crystal, menthol flake and mentha oil prices rose by Rs 5 each to Rs 1,355, Rs 1,325 and Rs 1,265 per kg, respectively. Market
analysts said seasonal demand from pharma and other consuming industries against restricted arrivals from producing belts, mainly gave push
to rising menthol prices on the wholesale chemical market here.
 

 
JCI India – Biz News
 

  Indian IT sector eyes global automobile market

  In-car connectivity demands and technology for interaction open various possibilities. India’s sunshine sector, the information
technology (IT) industry, heading towards consolidation in the past five years, has its eyes set on the burgeoning global automobile
  market.

  That global market is slated to go from 800 million cars a year at present to 2.9 billion in 2050, according to International Monetary
Fund (IMF) estimates. India would have over 400 million cars, a five-fold increase over current numbers. For automobile
manufacturers, the challenge increasingly has been, and progressively will be, to innovate with the adoption of technologies, in the
  process of production and of the final product.

 
IDBI Bank's Q3 net rises 58% to Rs 454 cr
 
Private sector lender IDBI Bank today posted 58 per cent jump in net profit at Rs 454 crore for the quarter ended December 31,
  2010. The bank had a net profit of Rs 287 crore in the corresponding quarter of 2009-10, IDBI said in a filing to the Bombay Stock
Exchange. During the quarter, IDBI's net interest income (NII) stood at Rs 1,204 crore against Rs 717 crore in the corresponding
  quarter of the previous year.

  GM plans to triple sales in India, launch new cars

  General Motors' expects to triple its sales in India to 300,000 units over the next two years as it takes advantage of one of the fastest
growing auto markets, the automaker's India head said on Thursday.
 
The US automaker plans to launch six new vehicles in India over the next two years. "Things were good when looked through the
  rear window, things will be even better when we look through the front in 2011," Karl Slym, president of GM India, said at a press
conference.
 
Bajaj Electricals Q3 net profit jumps 19% to Rs 40 cr
 
Bajaj Electricals today reported a 19.07 per cent rise in its net profit at Rs 40.59 crore for the quarter ended December 31, 2010. The
  company had posted a net profit of Rs 34.09 crore in the corresponding period previous year., Bajaj Electricals said in a statement.

  The total income during the third quarter of this fiscal also jumped by 18.75 per cent to Rs 689.51 crore from Rs 580.66 crore in the
year-ago period, it added,
 
Reliance Retail to open 20 Hamleys toy stores in India
 
Mukesh Ambani-led Reliance Retail plans to open 20 toy stores of the UK-based Hamleys in India over the next seven years at an
  investment of Rs 120 crore,. With strong growth for the toy market in India, UK-based toy store Hamleys holds an exclusive tie-up
with Reliance Retail for merchandising its famous toys for children.
 
HDFC Bank Q3 net soars 33% to Rs 1,088 cr
 
Private sector lender HDFC Bank today reported a 32.9 per cent growth in net profit at Rs 1,087.83 crore for the third quarter ended
  December 2010. Total income of the bank rose to Rs 6,357.8 crore at the end of December quarter, from Rs 4,933.9 crore in the
same period last year.
 
The bank's net interest income went up by 24.9 per cent to Rs 2,777 crore in December quarter, HDFC Bank said in a regulatory
  filing to the Bombay Stock Exchange (BSE).

JSW Steel Q3 net dip 26% to Rs 382 cr

 
Costlier raw material and rise in fuel costs have eaten out JSW Steel's third quarter profit as the Mumbai-based steel maker reported
  a 25.65 per cent dip in net to Rs 382.30 crore though sales touched a record.

  The Sajjan Jindal-led firm, which clocked its highest-ever quarterly sales during the period at 1.593 million tonnes on enhanced

 
 

  Menthol rises on firm demand

Menthol prices rose by 5 per kg in the national capital today on rising demand from pharma and consuming units.
 
Tight stocks due to restricted supplies from producing belts also influenced the prices.
Menthol bold crystal, menthol flake and mentha oil prices rose by Rs 5 each to Rs 1,355, Rs 1,325 and Rs 1,265 per kg,
  respectively. Market analysts said seasonal demand from pharma and other consuming industries against restricted arrivals from
producing belts, mainly gave push to rising menthol prices on the wholesale chemical market here.
 
Asian markets end near 2-year high
 
Asian stocks rose to their highest since May 2008 on Wednesday, led by sectors most sensitive to the economic growth cycle ahead
  of U.S. earnings.

  Better than expected results from Apple Inc. and International Business Machines (IBM) bolstered sentiment and helped pull Asia’s
technology shares higher, while a weak greenback caused the commodity shares to rally. However, market players continued to
  remain wary about China's fight against inflation, Hong Kong media reported that Chinese consumer prices rose 4.6% in the year to
December, a slowdown from a 5.1% pace in November that would alleviate the need for aggressive monetary tightening. The
Shanghai Composite Index rose 1.9 percent, at 2,859, while Hong Kong's Hang Seng index gained 1.1 percent, 24,420 as investors
  shrugged of concerns of monetary tightening in China, however inflation data due this week may bring back those worries.

  Tata Steel FPO subscribed 8% till noon

 
Tata Steel has raised Rs 507.82 crore through allotment of about 83 lakh shares to a clutch of anchor investors at the upper end of
price band of its public offer, which is open for subscription.
 
"Committee of the board of directors of the company by a resolution dated January 18, 2011, in consultation with the book running
  lead managers, has finalised allocation of 8,325,000 equity shares, in aggregate, to anchor investors at a price of Rs 610 per equity
share
 
TVS Logistics to decide on IPO in next 3-6 months
 
TVS Logistics, part of the diversified business conglomerate TVS Group, will take a call on its initial public offer (IPO) in the next
  three-six months.

 
Micromax gets Sebi nod for IPO
 
Market regulator the Securities and Exchange Board of India (Sebi) has given nod to homegrown mobile handset maker Micromax to
sell 10 per cent stake through an initial public offer (IPO). According to Sebi data, the company had filed draft red herring prospectus
 
on September 29 last year and was given the market regulator's approval on January 14 this year.

 
Markets receive the 'IT' boost
 
The markets surged in late noon to cap a firm session of trade, sans the volatility of the previous two weeks and the choppiness that
  marked the trading activity on Monday, on the back of a rally in the IT and metal counters. Arresting the downtrend, at least for now,
the Sensex regained the 19k mark and made further inroads to end at 19106, higher by 224 points, and the Nifty ended at 5699, up
44 points. On the broader market front, the midcap index ended at 7137, up 14 points and the smallcap index ended at 8880, up 12
  points.

 
India mulls anti-dumping duty on Chinese glass fiber imports
 
India is considering imposition of anti-dumping duty of up to 40.9 per cent on the import of glass fiber, used in automobiles, electrical
  insulation and heat resistant fabrics, from China to protect domestic players.

  After concluding that "the domestic industry has suffered material injury," the Directorate General of Anti-dumping and Allied Duties
(DGAD) has recommended the duty of upto 40.9 per cent on the import of glass fibre and articles (from China).

 
 

HCL inks pact with Lippo Group to provide IT services

IT firm HCL Technologies today entered into a partnership with the Indonesia-based Lippo Group to offer IT outsourcing in that country.

PT Multipolar Technology, the subsidiary of the Lippo Group, has signed a memorandum of understanding with the Indian IT firm, HCL Tech
said in a filing to the Bombay Stock Exchange.

Oil India to give up 2 blocks in Libya

India's state-run explorer Oil India will relinquish two exploration blocks in Libya, its chairman N M Borah told reporters on Thursday, as their
operations were not viable.

Airtel launches 3G in Chennai, Coimbatore

After launching its 3G services in Karnataka, the country's largest telecom operator Airtel today unveiled its services, which will offer high speed
data download, video calls and live TV in Chennai and Coimbatore.

Bharti Airtel is the third private operator after Tata Teleservices and Reliance Communications to launch 3G services in the country. State-run
BSNL and MTNL are also offering 3G services.

Atlas Copco's delisting price set at Rs 2,250

Construction equipment maker Atlas Copco India has decided to buy back its shares at Rs 2,250 per piece and delist the company from
Bombay Stock Exchange and Pune Stock Exchange.

Sony unveils new handheld, takes on smart phones

Sony Corp launched a new handheld gaming device, the first to feature 3G wireless connectivity, as it battles with Nintendo's best-selling DS
and tries to fend off rising competition from smartphones and tablets.

.Logitech raises outlook as Asian demand boosts Q3

Logitech International, the world's largest computer mouse maker, raised its full-year sales target after strong growth in Asia helped it post a 14
per cent rise in third-quarter net profit.

Hyundai Q4 profit at record on overseas sales

Hyundai Motor, South Korea's top automaker, saw its profit jump nearly 50 per cent to a record for the December
quarter, driven by new models and robust sales in overseas markets including the United States and China.

Hyundai, the world's fifth-biggest automaker along with affiliate Kia Motors, is expected to maintain a healthy
earnings performance this year, with more new model launches and improving brand image.

Plan panel against telecos setting up banks

India's Planning Commission is not in favour of allowing telecom operators to float banking companies as it could lead to financial problems.

Orissa sets target of 22 lakh tonnes crop in rabi season

Faced with extensive damage to the kharif crop due to unseasonal rain during the harvesting period in December, Orissa government targeted
production of about 22 lakh tonnes crop during the rabi cultivation. Besides targeting production of 14.5 lakh tonnes of paddy, the state
government also set a target of producing 7.32 lakh tonnes of pulses and 621 tonnes of oil seeds during the rabi crop.
Deregulation of diesel prices not possible: Reddy

Oil Minister S Jaipal Reddy ruled out last week deregulation of diesel prices, saying it is not politically and practically feasible. "

High food inflation is threat to recovery: WB

Higher food prices pose a major threat to the global economy and social stability but policymakers must not over-regulate commodity markets.

Garments export dropped 3% in Nov 2011

After registering positive growth for three months in a row, India's apparel exports again slipped about three per cent to $716 million in
November year-on-year, due to less demand from the West and rising input cost. In November 2009, garments exports stood at $737 million,
according to Apparel Export Promotion Council (AEPC) data

Indian firms ride Africa growth story to climb higher

Indian consumer goods makers are scrambling to buy assets in Africa, applying their knowledge of challenging, lower-income markets to a
continent where spending power is on the rise.

Tapping Africa opens up new growth avenues for cash-rich Indian makers of personal care products such as soaps, shampoos, hair and skin
care products, with rising costs and fierce competition squeezing profits at home.

"We are a homegrown multinational from a developing economy," said Jimmy Anklesaria, executive vice-president for international operations at
Godrej Consumer. "Our ability to understand consumers in developing economies is sharp."

Oil, food price rise to impact inflation outlook in 2011

Rising oil prices and firming up of global and domestic food prices are likely to have a significant impact on inflation outlook in 2011 according to
RBI.

India-China trade volume surpasses $60 bn target

India-China bilateral trade in 2010 surpassed $60 billion target at $61.7 billion, driven by the surge in Indian imports of Chinese telecom and
power generation machinery to aid the country's infrastructure expansion.

According to official preliminary figures released here, bilateral trade registered $1.7 billion more than the target mainly on strength of Indian
imports.

Food inflation rises marginally to 15.57%

Food inflation remained sticky in mid-January on higher onion and fruit prices while fuel inflation eased, but it is unlikely to affect expectations of
further rates increases by the central bank in coming months.

The Reserve Bank of India (RBI), which on Tuesday raised policy rates for the seventh time since last March, had said the balance of risks had
tilted towards stronger inflation and that it was ready to respond if price pressures increased.

India's food inflation had remained in double digits for most of past one year and had been the key contributor to its headline inflation, which in
December rose to 8.43 per cent from 7.48 per cent in November.

US, India working to promote secure and stable world: Clinton

Congratulating Indians on their 62nd Republic Day, US Secretary of State Hillary Clinton today said that people of India and America are working
together to construct an indispensable partnership for the 21st century to promote a secure and stable world.