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ASIAN BUSINESS
Shares of paint manufacturer are in demand with most
of the frontline stocks trading at their record high on expectation of
improvement in operating profit margins due to fall in crude prices.
Berger Paints (up 8% to Rs 235), Asian Paints (5% at Rs 809), Kansai Nerolac Paints (4% at Rs 2,094), Shalimar Paints (2% at Rs 162), Akzo Nobel India (2% at Rs 1,421) are up between 2-8% on the BSE.
Asian Paints, Berger Paints and Kansai Nerolac Paints have hit their respective record highs during intra-day trade.
The fall in crude oil prices will be beneficial as paint companies use crude oil derivatives as inputs. Raw materials account for over 50% of a paint company’s total expenses.
Berger Paints (up 8% to Rs 235), Asian Paints (5% at Rs 809), Kansai Nerolac Paints (4% at Rs 2,094), Shalimar Paints (2% at Rs 162), Akzo Nobel India (2% at Rs 1,421) are up between 2-8% on the BSE.
Asian Paints, Berger Paints and Kansai Nerolac Paints have hit their respective record highs during intra-day trade.
The fall in crude oil prices will be beneficial as paint companies use crude oil derivatives as inputs. Raw materials account for over 50% of a paint company’s total expenses.
ASIAN SCHOOL OF
BUSINESS MANAGEMENT
The
National Youth festival of Asian School of Business Management, Ignite &
Markfest 2015 has been concluded amidst great fun and fervor.
The
festival was inaugurated by Shri Priyadarshi Mishra, Hon’ble MLA, Bhubaneswar
North and Prof. Debendranath Jena, VC Utkal University of Culture followed by
musical band performances by various student bands from institutions across the
country.
In
his welcome address, Prof. (Dr.) Biswajeet Pattanayak highlighted the
uniqueness of this initiative that incorporates a practical learning mode of
execution. He asserted that “while Ignite focuses on fostering of personality
development, team-building, inter-personal skills and leadership, effecting
attitudinal changes, project management and creativity, Markfest provides an
apt platform to ideate and express out of the box thinking and creativity
through the thoughtful ideation and execution of simulated business projects
from a marketing orientation thereby showcasing ‘management in practice’ in an
exhibition like scenario.”
The
valedictory programme was graced by Shri Pinaki Mishra, Hon’ble Member of
Parliament, Puri expressed his delight by saying that “the uniqueness of such
an event cannot be overstated as it blends fun and exponential learning through
strategically designed activities leading to innovation and creativity”.
BANKING
ICICI Bank
today launched the country's first contactless debit and credit cards that use
the near-field communication technology, enabling one to make payments by just
waving the card near merchant terminals instead of swiping the same.
The near
field communication (NFC) technology provides customers improved
convenience of speed and security over traditional cards as these cards can
complete a transaction faster and be more secured as they remain with customer.
The
bank has introduced these two cards in Mumbai, Hyderabad and Gurgaon to begin
with and it has installed over 1,200 PoS machines capable of accepting
contactless payments in these cities.
The
bank has launched two cards with the new technology -- the Coral contactless
credit cards and the Expressions wave debit cards -- and both can also be used
as regular cards at all merchant terminals (in other cities), the bank said.
BUSINESS
To boost fund raising from markets, the Securities and Exchange Board of
India, on Thursday, proposed e-IPO norms, where investors can bid for shares
through Internet and eventually on mobiles, while already listed public sector
undertakings (PSUs) will be provided a ‘fast-track’ route for share sales to
meet the disinvestment targets.
For already listed companies as well, the market regulator has proposed
a fast-track route for raising of funds through FPOs (follow-on public offers)
or rights offers (where funds can be raised from existing shareholders).
Under the new norms, SEBI has proposed to drastically cut the timeline
for listing of shares within 2-3 days of the IPO, as against 12 days currently.
The fast-track route of raising capital has been proposed for companies
having public shareholding market valuation of as low as Rs.250 crore, as
against Rs.3,000 crore at present. The public sector entities can tap the
‘fast-track’ route even without complying to this minimum average market value
limit, provided they meet other conditions, SEBI said. Under the ‘fast-track’ route,
a listed company would not be required to file any draft offer document for its
FPO or rights issue and it can proceed with the fund-raising programme without
necessarily getting ‘observations’ from SEBI.
FINANCE
China's Alibaba Group Holding Ltd and its unit Alipay are in advanced talks to buy a stake for about $550
million in India's One97 Communications, which owns an online payment platform,
sources directly involved in the transaction said.
The investment by Alibaba, the world's largest e-commerce company, is expected to be announced by the end of this month.
It will be Alibaba's first significant investment in India's rapidly growing online business segment.
Under the terms of the deal, Alibaba and Alipay, China's top payment service provider controlled by Alibaba's executive chairman Jack Ma, will hold between 30 per cent and 40 per cent of One97 after the investment, the sources said.
One97 runs Paytm, an e-commerce platform which consumers can access through mobile apps.
One97 would issue fresh shares to Alibaba and Alipay, which would result in the holdings of existing shareholders, including founder Vijay Shekhar Sharma, being diluted, one of the sources told Reuters.
The investment by Alibaba, the world's largest e-commerce company, is expected to be announced by the end of this month.
It will be Alibaba's first significant investment in India's rapidly growing online business segment.
Under the terms of the deal, Alibaba and Alipay, China's top payment service provider controlled by Alibaba's executive chairman Jack Ma, will hold between 30 per cent and 40 per cent of One97 after the investment, the sources said.
One97 runs Paytm, an e-commerce platform which consumers can access through mobile apps.
One97 would issue fresh shares to Alibaba and Alipay, which would result in the holdings of existing shareholders, including founder Vijay Shekhar Sharma, being diluted, one of the sources told Reuters.
INTERNATIONAL
BUSINESS
Global
Cloud Xchange (GCX), the international business unit of Reliance
Communications, Friday said that it has shortlisted three vendors for the
construction of its India Cloud Xchange (ICX) subsea cable, which will deliver
a direct Mumbai-Singapore route to bypass current outage prone terrestrial
routes between Mumbai and Chennai.
"In
the coming month we will finalize the vendor selection process and initiate
process to construct the ICX cable which will integrate with our GCX global
network infrastructure for direct connectivity to major business centers in
Asia, Middle East, North America and Europe," Bill Barney, chief executive
officer, Global Cloud Xchange, said in a statement.
In
June last year, GCX had announced its plans for the construction of cable as
part of its strategy to provide a direct subsea route to bridge an important
gap in the emerging markets corridor and to meet soaring bandwidth demands of
new cloud based applications and services.
It
had then said the undersea cable will cost about $200 million (approximately Rs
1,260 crore), a quarter of which will be spent by the company and rest by three
more partners. Two of those partners will be technology companies while the
third an infrastructure partner, Barney had then said.
ODISHA
BUSINESS
Odisha is in the process of upgrading several airstrips in
different districts.
The government has conducted a feasibility study and is in
consultation with aircraft operators to fly to these airstrips to ferry
tourists and entrepreneurs.
A senior official told IANS that connecting Bhubaneswar and
Jeypore on the one hand and Bhubaneswar, Sambalpur, Jharsuguda and Rourkela on
the other by small aircraft would be economically viable.
Most routes would get nine-seater
planes.
The government also plans to put up communication and
surveillance apparatus, increase the length of runways and build boundary walls
to keep stray animals at bay.
Odisha has 17 airstrips and 16 helipads. Baring the Birasal
airstrip in Dhenkanal district, all other airstrips have existing runways that
can take small aircraft.
The government has entered into an agreement with the
Airports Authority of India (AAI) to develop the Jharsuguda airstrip in western
Odisha into a full-fledged airport with an investment of Rs.210 crore.
The airport's business will primarily be driven by corporate
travellers, officials say.
Vedanta Group firms have plants in Jharsuguda. While there
are a number of sponge iron units in the Jharsuguda-Rourkela belt, the Ib
valley region in Jharsuguda is known for coal deposits and mines.
RETAIL
The multi-domain Rs 5000-crore plus SRS Group has
announced its foray into the e-commerce space.
As a first step in this direction, the company has announced the launch of
SRSGROCERY.com. The website is uniquely designed to provide online shopping
experience to customers. In the next phase of its expansion, SRS plans to
forays into other e-commerce websites that will relate to apparel and jewellery, among
others.
According to the company, the website will have
international standards in terms of product range and merchandising, promotions
and customer focus. Its wide portfolio includes all key categories such as FMCG
products, staples, beverages, home care, personal care, grooming, fruits and
vegetables, cleaners and much more. The website is designed to fulfill the
entire grocery basket for its customers, making it a one-stop destination for
the grocery requirements.
________________________________________________________________
Source of
Information for this issue : Google alert accessed on Google alert on Jan 12 , 2015
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welcome your suggestions in improving this information updating service.
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Best wishes
Compilation
Sabita
Sahu
Junior
Librarian
Concept,
Layout and Editing
Syamaghana
Mohanty
Chief
Librarian
Information
and Documentation Divison, Chanakya Central Library
Asian
School of Business Management
Shiksha
Vihar Bhola,
Barang
Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:
0674-2374832, 2374833
E-mail:
library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu :Junior Librarian Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
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