Showing posts with label IIPM INDIA. Show all posts
Showing posts with label IIPM INDIA. Show all posts

Saturday, September 01, 2012

MINING ITS WAY AHEAD

Despite a fall in profits in the last fiscal, nmdc is still among the top 20 profit makers in the country. But will the honeymoon continue for the mining giant? Deepak Ranjan Patra finds out...

It operates in the remotest of the areas in the country, surrounded and obstructed by Naxals and struggling with problems that the big bosses of corporate India can hardly imagine. But still, it gives its competitors a run for their money. Backed by such undying zeal, NMDC is one of the best mining companies in the country and it ranks 18 in the B&E Power 100 list, despite having a year that can be called disastrous for the company.

On the face of it, the results announced by NMDC for the last financial year may seem deceptive for many as profits for the particular fiscal year stood at `34.47 billion, down by over 21% from `43.72 reported in the previous year. But then, the fall in profits resulted more due to external disturbances that caused operational roadblocks for NMDC. As Kumar Raghavan, Executive Director (L & CC), NMDC, says, “In the beginning of the financial year (May, 2009), the Essar pipeline was blasted by the Maoists at several places, placing NMDC under great strain on evacuation of iron ore.” The kind of pressure that was created by the event could be understood from the very fact that the particular pipeline was one of the evacuation means for nearly one-third iron ore for the company’s largest projects at Bailadila, Chhatisgarh. Though the company tried its best to run the show smoothly, the event resulted in a drop of around 12% in the company’s iron ore sales to 25 million tonnes from 28.52 million tonnes in the previous fiscal.

However, the management of NMDC showed extreme character to brush aside the external hurdles during the year resulting in one of the best quarterly results in the company’s history during this period of the current fiscal. NMDC’s Q1 profit increased by a mind-boggling 94% to `15.04 billion from `7.74 billion in the year-ago period. Sighting significant rise in domestic sales as the key reason, Rana Som, CMD, NMDC said, “Improved physical performance coupled with higher prices, transparent pricing systems and improvement in evacuation resulted in the company posting a high net profit in the first quarter.”

Another reason for its success in the recent years has been NMDC’s tremendous ability to operate at the lower end of the cost curve. As explained by Paresh Jain, Analyst, Angel Securities, “At $7.2 per tonne, NMDC’s operating cost is one of the lowest in the global iron ore industry. The major reason for such low costs is the proximity of the company’s mines to ports and railways.” Moreover, to strengthen the advantage further, NMDC is now planning to build a 10 million tonne slurry pipeline from its Bacheli project to the Vizag port, which, as expected by Paresh, would help the mining company maintain its margins.



 
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Friday, August 31, 2012

TO EARN PROFITS, ATTRACT INVESTORS!

Global Investment Guru Jim Rogers, who Co-Founded the Quantum Fund along with George Soros (The Fund Returned 4,200% in ten years, as compared to the S&P 500’s 47% in the same duration), believes that commodities are a strong investment avenue for indian firms, and that the govt. should cooperate to make india inc. more profitable

When the economy gets better after the ongoing recovery mode, commodities will go up. And even if it doesn’t get better, commodities will remain the hot favourite, as governments would press to print more currency and whenever the government has done that in the past, real asset prices tend to go up, be it rice, wheat or natural gas. In the present situation, a credible investment and productive capacity for 25 or 30 years in the commodity field will be excellent whether the economies get better or they don’t. Most of the commodities tend to be fruitful but for the near future that is 2 to 3 years, agriculture will be a golden call.

With the recent mergers and acquisitions (M&As) activity heating up the Indian market, like any other economy, Indians are shelling-out a little extra for the target company. But these M&As are of no sense as they normally destroy value. Forget about making-profits with these deals. If an Indian company can, it should rather invest in the stock market over M&As as there is a lot of liquidity in the Indian market and a huge potential in stocks. So stocks are the right way to go if you want to make profits.

Talking about the comparison between India and China, when returns are considered, the Chinese market will outperform India in the short-term, but with India allowing foreigners to invest in the Indian market, India will be a much better market in comparison to China in the long-term. But considering the manner in which the government behaves and acts on important economic and corporate decisions at present, I am not really sure that the government in India actually means good. But if it does, India is really the place of more interest. Hence, for the time being, China is the preferred destination and Chinese companies would be my desired targets.

Talking about profit-making in the farm & agricultural sector in India, at present, a lot has to change. There has to be definite reforms in different sectors in India to unlock their potential specifically in agriculture, where India can be a leader in the global economy, as India has the soil, weather & location. Unfortunately, the government is ruining agriculture with all kinds of restrictions and despite thousands of Indian farmers committing suicide every year, the government is allowing the restrictions to develop. A farmer in India cannot have more than 5 hectares of land and these Indian farmers can never compete with their counterparts sitting in Australia and America. A farmer in India has the potential to own 10,000 hectares. The Indian government should open up the agricultural sector, so that it becomes much more competitive.


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Saturday, August 11, 2012

An ‘objectiveless’ and timid budget

Shortage of a hundred and fifty million rural employment jobs. Shortage of twenty five million urban employment jobs… Additional Rs.1 lakh crore required to replace urban slums… And Rs.10,000 crore required every year for five years to give justice to every Indian by ramping up the judiciary… Another Rs.20,000 crore required every year to make universal primary education a reality and have equality in education opportunities… And additional Rs.10,000 crore required annually to give some basic access to health facilities… Welcome to India. A country where the hospital beds to population ratio is 1:1422, ranked 161 alongside sub-Saharan African countries, against an ideal ratio of 1:333 prescribed by the United Nations. A country with 2.4 million temples but only 1.4 million temples of education i.e. schools… A country with 30 million cases pending in courts, making life hell for the common man who wants justice, because our courts have only 12 judges per million population compared to 120 judges per million in the developed world.

In the middle of such an environment, what’s the role of an annual budget? Is it to maintain status quo or to give the world a robust signal that we are committed to our people – the 45 crore people who earn below $1.25 a day? If the objective is to maintain the status quo, then Pranabda has delivered a perfect budget, as loudly proclaimed by each and every member of the equally objectiveless and visionless industry organisations like FICCI, CII and ASSOCHAM etc. They were too happy that the entire stimulus package had not been withdrawn. As it is, the spokespersons aren’t independent intellectuals. They are timid business men – however rich they might be – scared to ever speak against the government as their businesses are at stake! In most cases, they aren’t even capable of commenting on the budget, such low is their understanding. But they are the people who give the bytes and that’s what next days headlines look like in papers indirectly and directly owned by them and mostly run by sold out editors or editors intellectually incapable of analysing a budget or how it needs to be. So the verdict that they have given is thumbs up!

The man on the street, of course, has no voice. And his concerns are of no importance to politicians or media. Media has no vision to effectively and constantly focus on their cause in order to effect a change. They are more interested in rapes, murders and sex, which keep the readers confined to intellectually dumbed-down dustbins of these media houses.

The truth, however, is that if we were to look at this budget from the perspective of people – those 45 crore that I mentioned above and another 35 crore who are just marginally better off – then this budget is a hoax for them. Allocations to the best scheme of the Sonia government, or for that matter any government in ages – the NREGA scheme – wasn’t even increased enough to cover the inflation! What was done was a mere increase from Rs.39,000 crore to about Rs.41,000 crore. At a point of time when the common man is being made to pay an astoundingly scary Rs.50 per kg for sugar and Rs.100 per kg for dal, when the food inflation has touched horrific proportions and when they were looking up to the budget for some relief, forget immediate relief measures, there were no signs of any long run relief either in this budget. No lip service even to stop hoarding. No measures to stop speculation in food. No recommendation of strict punishment to the hoarders and no announcement of using the country’s huge forex reserves to import basic food necessities to increase supply and reduce prices. In other words, totally shocking. The reference to the aam aadmi went missing. It was clearly a budget for the mango people who live in India and not the aam aadmi who lives in Bharat.

The long-run steps to increase agriculture growth through a new green revolution got a token Rs.400crore. Nothing could have been more hilarious. Now, NBFCs (non banking financial institutions) can open banks and Rahul Bajaj must be very happy with his part of lobbying. But the real requirement of financial inclusion, which reaches a rotting low of less than 200 million people compared to the required 900 million people, still remains unsolved.


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Friday, August 10, 2012

EXTEND TAX HOLIDAY

A NEEDED STEP TO MAKE HOUSING A REALISTIC PROPOSITION

In order to support developers’ efforts of promoting LIG/MIG housing projects, there is an immediate need for a tax holiday under section 80-IB (10) to make LIG/MIG housing a more realistic proposition. For the same, the cut-off date for eligibility should be further extended and tax holiday eligibility, based on project completion condition, should be restored. Even the tax holiday benefit under section 80-IA (4) (iii) is only for industrial parks notified up to March 31, 2011. We suggest that the time limit for notification of industrial parks under the New Industrial Park Scheme 2008 should be extended up to March 2015 as during the slowdown in 2008–2009, there were certain delays in the execution of the projects.

Integrated townships projects should be given incentives at par with infrastructure and single window clearance mechanism should be introduced for such integrated townships to ensure efficient execution. Integrated township projects deserve infrastructure status since while developing integrated townships, developers also develop the infrastructure comprising of roads, lighting, water drainage systems, et al, in and around the township.

Measures such as tax incentives should also be extended to developers who take initiatives for improving social infrastructure through Slum Redevelopment Projects/ Dilapidated Housing / Social Housing. Growth in commercial space during 2007 and 2008 was driven primarily by IT and ITeS sectors. But following the slowdown over the last two years, IT spending, particularly in the BFSI sector, has been hit. Therefore the minimum tenant requirement should be reduced to 10 units. Also, the time limit for notification of industrial parks under the New Industrial Park Scheme 2008 should be extended up to March 2015 and benefits under section 80-IA should be extended to developers.

Further, section 56(2) – section 56(2) of the Act should not be made applicable to the transfer of immovable property. In addition to the existing deduction of up to Rs.100,000, a separate limit up to Rs.200,000 deduction should be permitted for repayment of principal portion of housing loan for self occupied residential property.

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Wednesday, August 08, 2012

From 9,903 to 17,641!

After the euphoric bull run of 2009 it’s the stock pickers who will rock the market in 2010. Gyanendra Kumar Kashyap uncovers the front-runners and dark horses...

The Indian equity markets churned out one of the best annual returns (a whopping 76.35%) in 2009 – a reflection of investor confidence in the Indian economy’s resilience. Nonetheless, even after the euphoric rally, a number of questions remain over the market’s future course, most critically pertaining to the future course. After the unidirectional trends of the previous two years, 2010 is likely to usher in a period of volatility with the market moving in a broad trading range for the better part of the year. The bullish sentiment is likely to continue in 2010, only that it will be more selective than being broad based.

Mid and small cap indices are likely to outperform the key indices in 2010. Analysts expect about 12-15% gain for the key indices in 2010 from the current levels. However, the focus would gradually shift from macro driven unidirectional market moves to stock-specific investment opportunities based on earnings growth and absolute valuations. Given the current scenario wherein there are apprehensions regarding reversal of interest rate cycle led by spike in inflation, adverse impact of the withdrawal of the economic stimulus, the fears of further fiscal slippage and the sustainability test of global recovery; the markets could turn edgy in the first half of 2010.

The benchmark index, Sensex, is in a position of relative safety since it has retraced close to 70% of its prior downtrend making re-test of March lows (8,047 level) highly improbable. And if equity experts are to be believed, then 2010 is well poised to bear good returns. Moreover, the government is likely to mop up more than Rs.240 billion by divesting stakes in several state-owned companies and the primary route for this fund raising will be through initial public offers (IPOs). This will certainly provide the much needed fillip to the market rally in 2010. In fact, there are analysts who believe that if history can form any basis for future and if historic average internal rate of return of 17.25% per annum is maintained, then the Sensex can even reach astonishing levels of 1,00,000 by 2020. Although that’s quite pleasing, one would assume it’s an expectation more belligerent than required.

Like others, Dinesh Thakkar, CMD, Angel Broking, too is of the opinion that banking & infrastructure are the two sectors that will outperform in 2010. His reasoning is based on the pick in economic activity and high spends on infrastructure. Apart from infra, capital goods (as the investment cycle picks up with a lag in demand), media, retail and cement (a dark horse that could surprise positively amid pessimism) stocks could well surprise the investor fraternity in 2010. Clearly, if you have excess money, this is the place for you. If it’s a matter of your life’s savings, stay out!


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Monday, July 30, 2012

How may I kick the bucket?

Execution methods are becoming more humane over time, but can the same be said for the criminals?

Rulers, and the governments after them, have used various methods to punish the condemned – crucifixion, poisoning, burying/burning alive, beheading, throwing them to hungry predators or in front of firing squads and so on. Methods have become more civilized over the years. Yet, there are instances of laws in certain countries that advocate public stoning to death (as practised in Iran), using chemical weapons to annihilate several hundreds (as Saddam Hussein did to Kurds in 1988), or starving the accused to death (principal means of handing out death sentences in North Korea)!

These methods are ghastly indeed, but they are thankfully aberrations! The most common roster of executions reads beheading, hanging, gas chamber, electrocution, lethal injection and shooting in recent history. Saudi Arabia has a dubious distinction of being one of the very few countries that still practise beheading. Between 2007 and 2010, as many as 345 people have been beheaded in that country. Hanging is prevalent in most countries. India, where as per Amnesty International, 33 people were sentenced to death in 2001, 23 in 2002, 77 in 2005, 40 in 2006 and 100 in 2007; belongs to this category. Shooting squads are deployed by a number of countries with 58 cases in 2010 – 18 executions in Libya, 5 in North Korea, 4 in Equatorial Guinea, 1 in US and Bahrain et al. Gas chambers and electric chairs are mostly practiced in US. As per the Death Penalty Information Centre, 157 electrocutions and 11 gas chamber executions were reported since 1976. Lethal injection has been pioneered by US (as the most ‘peaceful’ method of execution) with 1090 deaths since 1976; this method has now been adopted by China, Thailand & Vietnam.


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Saturday, July 28, 2012

2010 was theirs! Is 2011?

FMCG Saw Some Heavy action on the M&A front last year. But, as The Industry matures and valuations rise, It’s The small-ticket Strategic Acquisitions that will drive the sector in 2011

If there was one sector that saw some heavy action on the mergers and acquisitions (M&A) front last year, it was fast moving consumer goods (FMCG). For the uninitiated, the total value of M&A deals ($797.83 million) in the sector in 2010 went up 16 times when compared to the 2009 figure ($47.94 million), and in fact, a whopping 23 times from the 2008 number ($33.97 million). Reason: India’s Rs.460 billion FMCG market remains highly fragmented with over 50% of it dominated by non-branded, unpackaged home made products. This certainly presents a tremendous opportunity for established brands, both domestic and multinational, to expand their reach across the country by pursuing inorganic growth strategies.

Several FMCG companies such as Dabur, Marico, Godrej Consumer Private Ltd. (GPCL) and Emami have already been snapping up companies or brands since 2010 to expand their sphere of activity. While GCPL did five outbound deals and one domestic deal in 2010, rivals Dabur and Marico forged two outbound deals each. In fact, a significant contributor to the growth registered in 2010 were outbound deals (domestic companies making acquisitions abroad). There were 18 outbound deals worth $506.90 million in 2010 as against four deals worth $45.5 million registered in 2009 and two deals totalling just $2 million in 2008. It was high valuations of local assets that drove the homegrown companies abroad. Considering this, there was certainly a rebound in M&A activity levels in FMCG in 2010. Companies which had postponed M&A activity in the past two years were clearly making up for the lost time in 2010. Sounds logical! But then, what about M&A’s in the sector in 2011? Does M&A activity in the sector continues to experience the same momentum as it was witnessing some six months ago?



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Wednesday, June 20, 2007

DesirÉE

Hublot’s Big Bang Watch -- 40,550,000 INR





Did you say 'watch'? Functionally, it's probably that, but at the given price tag, how do you convince someone it's only that?! The timepiece, a culmination of efforts by brilliant clock maker Hublot and exquisite diamond setters Bunter SA, would require a minimum level of social standing to even look at it! Covered with innumerable diamonds, it renders the surface of the dial in absolute sheen, making the base metal impossible to see. The strap is made of vulcanised rubber and the clasp is encrusted with diamonds too! So you know what's your sour-grapist excuse if you can't afford it – too bling-bling!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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Thursday, June 07, 2007

We’re Stronger Than Before

Till the times robot are far from mainstream actions, its human soldiers that are working beyond the call of the duty. They perform under severe extreme conditions and their physical & mental capabilities are tested lot of times. Therefore, maintaining human combat performance and restoring combat capabilities after severe injury is of prime importance. Vaccines are being created to ensure that soldiers can survive for hours in case of fatal injuries, till proper aid can be provided. Nations are working towards revolutionary limb prosthesis that are akin to normal limbs in terms of functioning & sensory capabilities. This will enable a soldier to perform work with artificial limbs as the limb will interact with brain like any natural limb. DARPA is expected to deliver an upper limb for clinical trials to the US forces that is not only superior in functionality, but also is controlled by the brain and provides full sensory feedback, in four years from now.


For complete IIPM article click here
Source:- IIPM Editorial, 2006
An IIPM and Management Guru Prof.Arindam Chaudhuri's Initiative




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About IIPM ! IIPM Programmes ! IIPM Placement ! IIPM Alumni ! IIPM Alliances ! IIPM Ranking ! IIPM Director's Desk ! IIPM Dean's Message ! History of IIPM ! IIPM Mission ! IIPM Curriculum ! IIPM Project Based Learning ! IIPM GOTA ! IIPM Dual Specialisation ! IIPM Faculty ! IIPM GOP ! IIPM Campus Resources ! IIPM Campus Events ! IIPM Sports Club ! IIPM Support Services ! IIPM Campus ! IIPM Libraries ! IIPM Cafeteria ! IIPM Academic Centres ! IIPM Wilton Park Reports ! IIPM Feedback ! IIPM Links ! IIPM Sitemap ! Contact IIPM !

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Wednesday, May 16, 2007

A mixed bag of piggies, pretty ladies, psychos and a lot more!

There’s something for the whole family here. The ladies could head to the Fashion and Lifestyle Pavilion and catch the models strutting designer clothes, get fashion and beauty ideas and of course, shop! Alternatively, they could try the Home Garden and Lifestyle Pavilion and learn the latest in home renovation, outdoor landscaping and purchase pottery and craft items. At the Sydney Royal Arts Show, you could view the exhibits or enroll for a class of model making or beading. You can take your li’l ones to the Nestle Peters Ice Cream Kids Carnival to rollick in the numerous rides or take them to the Heritage lane to pet the endangered Australian Bilby. View The Psycho Sideshow of Anarchy at The Tiny Top Tent, where escape artists will perform perilous tricks and the 1-metre tall Rima, will shimmy and shake into your photo albums! The guys can go catch the rodeo or Xtreme Korruption that showcases freestyle MotoX stunts from the world’s best stunt riders or alternatively head for the Sydney Royal Horse Show.

All of this is merely a preview and if you’re lucky enough to visit the Sydney Royal Show, remember to plan your activities beforehand, or you might miss out on a lot! C’mon then, get planning!


For complete IIPM article click here

Source:- IIPM Editorial, 2006

An IIPM and Management Guru Prof.Arindam Chaudhuri's Initiative

Read more:-



About IIPM ! IIPM Programmes ! IIPM Placement ! IIPM Alumni ! IIPM Alliances ! IIPM Ranking ! IIPM Director's Desk ! IIPM Dean's Message ! History of IIPM ! IIPM Mission ! IIPM Curriculum ! IIPM Project Based Learning ! IIPM GOTA ! IIPM Dual Specialisation ! IIPM Faculty ! IIPM GOP ! IIPM Campus Resources ! IIPM Campus Events ! IIPM Sports Club ! IIPM Support Services ! IIPM Campus ! IIPM Libraries ! IIPM Cafeteria ! IIPM Academic Centres ! IIPM Wilton Park Reports ! IIPM Feedback ! IIPM Links ! IIPM Sitemap ! Contact IIPM !

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