DOCSLIB.ORG

Times Business

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Times Business TIMES BUSINESS THE TIMES OF INDIA, MUMBAI | FRIDAY, NOVEMBER 18, 2016 DAIMLER CEO DIETER ZETSCHE SEES NO US MARKET US FED CHIEF JANET YELLEN HINTS FED COULD DISRUPTIONS ONCE DONALD TRUMP TAKES OFFICE RAISE INTEREST RATES NEXT MONTH | 24 Mistry avoids face-off, skips Rajat Gupta Jeep plans Scoot eyes assumes role mini SUV for long-haul two Tata board meetings as chairman flights of non-profit under `10L from India TCS Calls EGM On Dec 13 To Remove Cyrus As Director New York: India-born former Saurabh.Sinha SL Shanth Kumar Goldman Sachs director Rajat @timesgroup.com Reeba.Zachariah After the TCS board mee- Gupta has assumed a new role as @timesgroup.com ting, Hussain and the compa- chairman of a US- May Rope In Tata Motors New Delhi: With budget airli- ny’s MD & CEO N Chandrase- based non-profit nes controlling almost 65% of Mumbai: Cyrus Mistry on karan attended the Tata Sons organisation, a For Engines, Transmissions domestic skies, it is now the Thursday skipped two crucial board meet chaired by Ratan gradual return to a turn of foreign low-cost carri- board meetings, of Tata Sons Tata that lasted for nearly two normal life after Pankaj.Doval Tata Motors beyond the ers (LCC) with wide-body pla- and Tata Consul- hours. This was Chandraseka- completing a two- @timesgroup.com Ranjangaon joint venture nes to eye the lucrative long- tancy Services ran’s first board meet as a Tata year prison term (signed by parent Fiat- haul traffic to-and-from India. (TCS), his first such Sons director. on insider trading charges. Los Angeles: Iconic Ame- Chrysler ) that produces Singapore Airlines’ (SIA) absence since he Mistry had informed Tata Gupta, 67, is chairman of rican SUV brand Jeep is vehicles for both the long-haul LCC Scoot wants to was ousted as cha- Sons and TCS that he be granted the WHEELS Global Founda- planning a sub Rs 10-lakh companies. “Our rela- operate its Boeing 787 Dream- irman from both companies. ‘leave of absence’, sources said. tion (WGF), a nonprofit organi- global off-roader for India to tionship with Tata Motors liners on Singapore-India-Eu- The board of directors of Ta- Before the formal board mee- sation focused on applying take on the likes of Ford Eco is good… I would be very rope/Gulf routes under so- ta Sons did not discuss issues ting, Ratan Tata had called an technology to uplift rural com- Sport and Renault Duster. It open to discussions with mething known as “fifth free- linked to Mistry, Tata executi- informal board meeting of Tata munities and provide techno- is also looking at a partners- Tata about opportunities dom” of aviation. Under this ves said. However, at the TCS Sons directors where Mistry logical solutions to global chal- hip with Tata Motors for where collectively we co- freedom, an airline can fly meeting, which was chaired by was not invited. This, sources lenges in six areas; water, he- engines, transmissions and uld win,” Manley told TOI from its home country to a se- Ishaat Hussain, it was decided said, prompted Mistry to skip alth, education, energy, lifesty- possibly new products. when asked about possible cond nation and take passeng- that the company will convene the crucial board meeting in the les, and sustainability. Mike Manley, head of joint product-develop- ers from there to a third count- an extraordinary meeting afternoon. Vijay Singh, a Tata The non-profit was founded the Jeep brand, which is ment and vehicle platform ry and same on return. (EGM) on December 13 to remo- Ratan Tata (left) outside Bombay House, and TCS chairman Ishaat Sons director, denied to PTI any in 2013 by a group of alumni part of the Fiat-Chrysler strategies. ve Mistry as a director from its Hussain at the company’s headquarters in Mumbai on Thursday such meeting, jokingly saying Automobiles’ (FCA) stable, SIA’s long-haul LCC board. On November 10, Tata that all board meets are them- The non-profit, said India is one of the FUELLING COMPETITION Scoot wants to Sons had said Hussain will re- Mistry’s continuance as chair- man, ICan Advisors. Singhvi selves “informal”. WHEELS Global “most critical” markets for operate its Boeing place Mistry as TCS chairman. man while in Tata Steel, the six wondered how directors who Besides Mistry, two other Foundation, was the company as it looks at a 787s on Singapore- TCS is the first company independent directors were di- had come on board recently and directors, Farida Khambata founded in 2013 by a greater and stronger push from the Tata Group to fix the vided for and against him. It were yet to acquaint themselves and Ralf Speth, too skipped group of alumni from into emerging countries, India-Europe/Gulf EGM date. In the next few we- remains to be seen how share- with the group’s businesses, the Tata Sons board meet. including Brazil and China. routes eks, boards of Tata Steel, Tata holders factor in the views of had agreed to go along with the A Tata executive said the Ta- IIT, all prominent The mini SUV, which is Motors, Indian Hotels and Ta- these directors. decision to replace Mistry. ta Sons board meeting was a ro- entrepreneurs and still in the drawing stage, “There is a market for long- ta Chemicals will also consi- Mistry’s dismissal as Tata Singhvi’s reference was to Venu utine meet “with discussions will be the smallest in the haul LCCs to come into India or financial executives hJeep plans to take on Ford der convening similar EGMs. Sons chairman and attempts Srinivasan, Ajay Piramal and revolving around company’s ac- company’s line-up and In- Eco Sport and Renault Duster be based here. If allowed, our Despite opposition from pa- to remove him from other group Amit Chandra who had joined counts, administrative matters, from IIT, all prominent entre- dia could be a global manu- with mini SUV fare (basic, with everything el- rent company Tata Sons, Mist- companies has raised questions Tata Sons months before Mist- assessment of business and the preneurs and financial executi- facturing hub for right- se like baggage check-in, me- hIconic American SUV brand ry remains chairman in these about governance practices ry’s removal. way ahead.” The executive also ves. A source said Gupta assu- hand drive markets. The will also launch Compass SUV als, beverages and Wi-Fi cos- four group firms. To remove at the Tata Group. “It’s (the Barring Mistry, Thursda- added that there was a revamp med the role of chairman in country is expected to take ting extra) could be Rs5,000 and Mistry from boards of listed TCS EGM) the most regrettable y’s board meeting, which was of the audit committee. Earlier, October this year. Gupta’s na- a lead as Jeep is targeting a hJeep made India debut in Rs10,000 on Delhi-London and August this year through Tata companies, a majority of step by the Tatas and murder of Hussain’s first as chairman of the audit committee, during me appears among WGF’s bo- sub four-metre version, Wrangler and Grand Delhi-New York, respectively, shareholders have to agree. In corporate governance as till da- TCS, was attended by all the di- Mistry’s chairmanship, was he- ard of directors with the title of which attracts lower exci- Cherokee, priced upwards one-way,” said Bharath Maha- Tata Motors, Indian Hotels te they have not spelt out why rectors with Ron Sommer and aded by Ronen Sen, with Farida chairman on WGF’s web page. se tax and thus can be pri- of 70 lakh devan, India head of Scoot. The and Tata Chemicals, indepen- Cyrus was replaced as chair- Clayton Christensen joining Khambata and Vijay Singh as According to his profile on the ced more aggressively. LCC flies from Amritsar, Jai- dent directors have supported man,” said Anil Singhvi, chair- in via videoconference. other members. website, he “serves on its board Manley said at the Los Jeep will be launching pur and Chennai to Singapore. as a key strategist in defining Angeles Motor Show that a new SUV Compass in a It will soon merge SIA’s short- direction and focus of the non- the vehicle will be positio- few months and this will haul LCC Tiger into it and then profit organisation”. It said ned “on top of the Eco be the first vehicle manu- fly from eight Indian cities to Banks cut FD Cash flow woes to raise Gupta brings his “considerable Sport” and will be “very factured from its factory at Singapore. skills to WGF, along with his le- close” to the Ford vehicle. Ranjangaon. While Com- However, airlines from adership associations and ad- Manley said that a pass is likely to be positio- Singapore have used up the bi- rates by visory roles to many other non- partnership with Tata Mo- ned at Rs 15-20 lakh, Man- lateral (flying rights) with In- profits such as the Bill & Melin- tors could be explored, but ley said the company may dia, while Indian carriers are up to 100 bps dues in microfin sector da Gates Foundation and The did not answer queries on launch a locally-built Re- still using about half of their Global Fund to Fight AIDS, Tu- whether he was eyeing a negade off-roader below share. So, an increase in bila- New Delhi: Taking advantage TIMES NEWS NETWORK berculosis and Malaria”. tie-up with the Indian com- Compass. teral that could enable Scoot of the surge in deposits follo- Growth may fall 1 percentage pt: HSBC Gupta was one of the hig- pany’s British SUV brand to have low-cost flights to Eu- wing demonetisation, several Mumbai: Microfinance insti- hest-profile defendants convic- Land Rover.
Load more

Recommended publications
  • Signature Redacted
    Opportunities and Challenges of M&A in India By Nikhil Gupta Bachelor of Technology, Indian Institute of Technology, 2005 MBA, Indian School of Business, 2013 SUBMITTED TO THE MIT SLOAN SCHOOL OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN MANAGEMENT STUDIES AT THE M.I.T. LIBRARIES MASSACHUSETTS INSTITUTE OF TECHNOLOGY JUNE 2014 0 2014 Nikhil Gupta. All Rights Reserved. RECEIVED The author hereby grants to MIT permission to reproduce and to distribute publicly paper and electronic copies of this thesis document in whole or in part in any medium now known or hereafter created. Signature redacted Signature of Author: _ i_______U______d______d MIT Sloan School of Management May 9, 2014 Signature redacted Certified By: S P Kothari Gordon Y Billard Professor of Management MIT Sloan School of Management Accepted By: Signature redacted Michael A. Cusumano SMR Distinguished Professor of Management Program Director, M.S. in Management Studies Program MIT Sloan School of Management 1 [Page intentionallyleft blank] 2 Opportunities and challenges of M&A in India By Nikhil Gupta Submitted to the MIT Sloan School of Management on May 9, 2014 in partial fulfillment of the requirements for the degree of Master of Science in Management Studies ABSTRACT The Indian economy has witnessed a major transformation since the government of India introduced the liberalization policies in 1991 .Since then M&A activity in India has picked up pace as foreign companies began to enter and expand their footprint in India. In developed economies especially the US and western Europe, M&A has been prevalent for a long time and is used as a major tool in corporate restructuring.
    [Show full text]
  • Cyrus Mistry (11Th
    NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Company Appeal (AT) No. 254 of 2018 IN THE MATTER OF: Cyrus Investments Pvt. Ltd. ….Appellant Vs. Tata Sons Ltd. & Ors. ….Respondents Present: For Appellant: Mr. C. A. Sundaram, Mr. Arun Kathpalia and Mr. K.G. Raghavan, Sr. Advocates with Mr. Somashekhar Sundresan, Mr. Manik Dogra, Mr. Rohan Jaitley, Ms. Rohini Musa, Mr. Abhishek Venkatraman, Mrs. Sonal Jaitley Bakshi, Mr. Jaiyesh Bakhshi, Mr. Apurva Diwanji, Mr. Ravi Tyagi, Mr. Shubhanshu Gupta, Ms. Sanya Kapoor, Ms. Rini Badoni, Mr. Akshay Doctor, Mr. Devashish, Mr. Parag Sawant and Mr. Gunjan Shah, Advocates. For Respondents: Dr. A.M. Singhvi and Mr. Rajiv Nayyar, Sr. Advocates with Mr. Prateek Seksaria, Ms. Ruby Singh Ahuja, Ms. Tahira Karanjawala, Mr. Anupm Prakash, Mr. Avishkar Singhvi, Mr. Arjun Sharma, Mr. Sahil Monga, Mr. Utkarsh Maria, Mr. L. Nidhiram Sharma and Mr. Baij Nath Patel, Advocates for R-1. Mr. Harish N. Salve, Sr. Advocate with Mr. Dhruv Dewan, Mr. Nitesh Jain, Mr. Rohan Batra, Ms. Reena Choudhary, Ms. Yashna Mehta and Mr. Nitesh Jain, Advocates for R-2. Mr. Amit Sibal, Senior Advocate with Ms. Ruby Singh Ahuja, Ms. Tahira Karanjawala, Mr. Arjun Sharma, Mr. Sahil Monga, Mr. Utkarsh Maria, Advocates for R-3, 5 & 7. Mr. Mohan Parasaran, Sr. Advocate with Mr. ZalAndyarujina, Mr. J.N. Mistry, Ms. Namrata Parikh, Mr. Ashwin Kumar D.S, Mr. Sidharth Sharma, Mr. Saswat Pattnaik, Mr. Aditya 2 Panda, Mr. Kartik Anand and Ms. Aditi Dani, Advocates for R-6, 16 to 22. Mr. Janak Dwarkadas, Sr. Advocate with Mr. Akshay Makhija, Mr.
    [Show full text]
  • Tata STEEL LTD Coverning Lettter-Print
    INDEX: Annexure Statement REPRESENTATION UNDER SECTION 169 OF THE COMPANIES ACT, 2013. IN RESPECT OF SPECIAL NOTICE FOR REMOVAL OF MR. CYRUS P. MISTRY AS DIRECTOR Foreword ...................................................................................................... 1 My Appointment .......................................................................................... 2 Strategy........................................................................................................ 3 Structure....................................................................................................... 6 Erosion of Governance ................................................................................. 8 Governance Breakdown ............................................................................... 9 Flagrant Widespread Breakdown ............................................................... 11 Way Forward .............................................................................................. 12 Foreword 1. It is not often that you as shareholders would have received either a special notice for removal of a director (“Special Notice”) or a representation from the director concerned. We indeed live in unique times. In the ordinary course, one would not expect a representation about a proposal to remove a director when the controlling shareholder seeks to do so. But this extraordinary general meeting has been called in extraordinary circumstances. It is my duty to place before you a full perspective of facts and factors
    [Show full text]
  • Corneroffice
    16 December 2016 the CornerOffice Tata-Mistry boardroom battle A compilation of key developments The Tata Group, India’s largest conglomerate group, has recently witnessed several differences of opinion among its top management. On October 24, 2016, Tata Sons announced the ouster of Mr Cyrus Mistry as its Chairman (though he remains a director on the board). Non- performance, attempting to gain control, and taking critical decisions without keeping Tata Sons’ board informed were cited as the reasons. On requisition from Tata Sons, various Tata Group companies have called for an EGM to evict Mr Mistry as a director. Institutional investors’ votes are likely to play a decisive role in the outcome of this resolution in some of the companies. We summarize the series of events /relevant information that investors might find handy for their decision making. Tata trusts have significant say in India’s largest group SHP of Tata Sons Ltd. The Tata Group, which includes among others, 26 listed entities accounting for ~7% of the BSE’s total market capitalization, is India’s largest conglomerate group. Tata Sons is the Group’s unlisted holding company. About 66% of Tata Sons’ equity capital is held by philanthropic trusts endowed by members of the Tata family. Tata trusts have the power to appoint one-third of Tata Sons’ directors. Any item that requires approval of Tata Sons’ board needs to be ratified by a majority of its trust- nominated directors. Further, Tata trusts have the power to nominate majority of members on the committee constituted for appointment/removal of the Chairman.
    [Show full text]
  • 212 2020 31 1503 27229 Jud
    1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NOs.440-441 0F 2020 TATA CONSULTANCY SERVICES LIMITED ¼ APPELLANT(S) VERSUS CYRUS INVESTMENTS PVT. LTD. AND ORS. ¼ RESPONDENT(S) WITH CIVIL APPEAL NOs.13-14 0F 2020 CIVIL APPEAL NOs.442-443 0F 2020 CIVIL APPEAL NOs.19-20 0F 2020 CIVIL APPEAL NOs.444-445 0F 2020 CIVIL APPEAL NOs.448-449 0F 2020 CIVIL APPEAL NOs.263-264 0F 2020 CIVIL APPEAL NO.1802 0F 2020 J U D G M E N T 1. Lis in the Appeals 1.1 Tata Sons (Private) Limited has come up with two appeals in Civil Appeal Nos.13-14 of 2020, challenging a final order dated 18-12-2019 passed by the National Company Law Appellate Tribunal (ªNCLATº for short) (i) holding as illegal, the proceedings of 2 the sixth meeting of the Board of Directors of TATA Sons Limited held on 24.10.2016 in so far as it relates to the removal of Shri Cyrus Pallonji Mistry (ªCPMº for short); (ii) restoring the position of CPM as the Executive Chairman of Tata Sons Limited and consequently as a Director of the Tata Companies for the rest of the tenure; (iii) declaring as illegal the appointment of someone else in the place of CPM as Executive Chairman; (iv) restraining Shri Ratan N. Tata (ªRNTº for short) and the nominees of Tata Trust from taking any decision in advance; (v) restraining the Company, its Board of Directors and Shareholders from exercising the power under Article 75 of the Articles of Association against the minority members except in exceptional circumstances and in the interest of the Company; and (vi) declaring as illegal, the decision of the Registrar of Companies for changing the status of Tata Sons Limited from being a public company into a private company.
    [Show full text]
  • Piramal Enterprises Limited
    Draft Letter of Offer Dated November 7, 2017 For Eligible Equity Shareholders only PIRAMAL ENTERPRISES LIMITED Piramal Enterprises Limited was originally incorporated as Indian Schering Limited on April 26, 1947 under the provisions of the Companies Act, 1913. Subsequently, the name of our Company was changed to Nicholas Laboratories India Limited with effect from September 27, 1979 and to Nicholas Piramal India Limited with effect from December 2, 1992. Subsequently, the name of our Company was changed to Piramal Healthcare Limited with effect from May 13, 2008 and to Piramal Enterprises Limited with effect from July 31, 2012. Registered Office: Piramal Ananta, Agastya Corporate Park, Opposite Fire Brigade, Kamani Junction, LBS Marg, Kurla (West), Mumbai – 400 070 Contact Person: Leonard D’Souza, Company Secretary and Compliance Officer Tel: (91 22) 3046 6666 | Fax: (91 22) 2490 2363 E-mail: [email protected] | Website: www.piramal.com | Corporate Identity Number: L24110MH1947PLC005719 PROMOTER OF OUR COMPANY: AJAY PIRAMAL FOR PRIVATE CIRCULATION TO THE ELIGIBLE EQUITY SHAREHOLDERS OF PIRAMAL ENTERPRISES LIMITED (THE “COMPANY” OR THE “ISSUER”) ONLY ISSUE OF UP TO [●] EQUITY SHARES OF FACE VALUE OF ₹ 2 EACH OF OUR COMPANY (THE “EQUITY SHARES”) FOR CASH AT A PRICE OF ₹ 2,380 PER EQUITY SHARE (INCLUDING A PREMIUM OF ₹ 2,378 PER EQUITY SHARE) NOT EXCEEDING ₹ 20,000 MILLION ON A RIGHTS BASIS TO THE ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY IN THE RATIO OF [●] EQUITY SHARES FOR EVERY [●] FULLY PAID-UP EQUITY SHARES HELD BY THE ELIGIBLE EQUITY SHAREHOLDERS ON THE RECORD DATE, THAT IS ON [●], 2017 (THE “ISSUE”). FOR FURTHER DETAILS, SEE “TERMS OF THE ISSUE” BEGINNING ON PAGE 380.
    [Show full text]
  • 108288 Master Thesis Online
    Copenhagen Business School Master Thesis 17.05.2016 Do Indian advanced market acquisitions from service and manufacturing firms create shareholder value? Author: Tim Niklas Palm MSc. Economics and Business Administration in International Business Copenhagen Business School STU incl. tables & figures: 170.827, pages 75 Supervisor: Aradhna Aggarwal Department of International Economics and Management Copenhagen Business School Abstract The liberalization in the 1990s and the resulting increased FDI activity allowed India to become the world’s fastest growing major economy in 2016. However, India’s emergence as a source of foreign direct investment outflows is impressive for its level of development. The sources are Indian firms that increasingly acquire firms in OECD countries and therefore leapfrog the conventional growth cycle. In this context, the understanding whether or why this inorganic mode of expansion creates value for the acquiring firms and the country as a whole is limited. This thesis argues that advanced market acquisitions allow to internalize resources that are time consuming in developing and also difficult to trade through transactions. Thus, they constitute a strategic path to value creation for the acquiring firm. Advanced product and factor markets and a developed institutional environment ensure a high quality of the resource and therefore allow for high synergies for firms from resource poor developing countries. In essence, service and manufacturing firms are driving these outward flows from India. I argue that domestically demand serving manufacturing firms create more value than export oriented service firms as they entered the global market on a later stage and have a larger potential to upgrade their capabilities.
    [Show full text]
  • WHAT HAPPENED LAST WEEK Sectors at a Glance…
    WHAT HAPPENED LAST WEEK Sectors at a glance… 14th October - 20th October 2018 CONTENTS SL. No Sector Author 1 Auto & Aviation Dhairya Patel 2 Real Estate, Infrastructure & Arpit Daga & Akshit Batra Cement 3 Pharmaceuticals Dixit Sambyal 4 IT & Telecom Ankur Inani 5 Metals & Mining Siddharth Toshniwal 6 Banking Sayani Paul 7 Chemical And Paints Ashish Kumar Agarwal & Vignesh V 8 FMCG Kenneth Rohan Kotian 9 Textiles & Retail Vimal & Anoop 10 Consumer Durables Vignesh Raj G 11 NBFC Svetlana & Aashpreet 12 Auto Ancillary Koustubh Mannari 13 Ports And Logistic Saurabh Kumar 14 Summary AUTO & AVIATION- WHAT HAPPENED LAST WEEK - By Dhairya Patel Electric-car sales reduced by 40% in FY18, but electric-bikes volume increased by 138% Nullifying the massive government push towards electric vehicles, electric-car sales reduced by 40 % in FY18 as compared to FY17, while electric-two-wheeler sales increased 138 % during the same period. According to the data from Society of Manufacturers of Electric Vehicles (SMEV), the apex industry body for the e-vehicles segment, in March 2018, there were 56,000 e-vehicles on the roads in India, of which electric-cars were around 1,200 units, while the rest 54,800 were two-wheelers. Mahindra Marazzo bookings crossed ten thousand mark Automobile major Mahindra & Mahindra (M&M) on Friday said that it has received over 10,000 bookings for its new MUV (Multipurpose Vehicle) Marazzo in just over a month of its initial launch. The company had launched the model on September 3,2018 with price starting at Rs 9.99 lakh (ex-showroom). It has been designed and engineered in a joint collaboration with Mahindra North American Technical Centre and the Mahindra Research Valley in Chennai.
    [Show full text]
  • 1 NOTICE NOTICE Is Hereby Given That the 2Nd Annual General
    NOTICE NOTICE is hereby given that the 2nd Annual General Meeting of the members of Piramal Capital & Housing Finance Limited (Formerly known as Piramal Housing Finance Limited) will be held on Friday, 28th September, 2018 at 10.00 a.m. at Bharata Conference Room, 10th Floor, Piramal Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel Mumbai - 400013, to transact the following business: ORDINARY BUSINESS: 1. To receive, consider and adopt the Audited Financial Statements for the financial year ended on March 31, 2018 and the Reports of the Board and Auditors thereon. 2. To appoint a Director in place of Mr. Khushru Jijina, Director, (DIN: 00209953) who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible offers himself for re-appointment. SPECIAL BUSINESS: 3. To appoint Mr. Ajay G. Piramal as a Non-Executive Director and Chairman. To consider and, if thought fit, to pass, the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 152 and all other applicable provisions of the Companies Act, 2013 and the Rules framed thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force) (‘the Act’), Mr. Ajay G. Piramal (holding Director Identification Number 00028116), who was appointed by the Board of Directors as an Additional Director (Chairman, Non- Executive, Non- Independent) of the Company with effect from May 28, 2018 and who holds office upto the date of this Annual General Meeting of the Company in terms of Section 161 of the Companies Act, 2013, as recommended by Nomination & Remuneration Committee, be appointed as a Director of the Company, liable to retire by rotation.” 4.
    [Show full text]
  • Fact Sheet As on November 27, 2020 Understanding the Factsheet
    Monthly Fact Sheet As on November 27, 2020 Understanding The Factsheet Fund Manager Modified Duration An employee of the asset management company such as a Modified duration is the price sensitivity and the percentage mutual fund or life insurer, who manages investments of the change in price for a unit change in yield. scheme. He is usually part of a larger team of fund managers and Macaulay Duration research analysts. Application Amount for Fresh Subscription/Minimum Investment Macaulay duration is defined as the weighted average time to full recovery of principal and interest payments of a bond i.e. the This is the minimum investment amount for a new investor in a weighted average maturity of cash flows. The weight of each mutual fund scheme. cash flow is determined by dividing the present value of the cash Minimum Additional Amount flow by the price of the bond. Standard Deviation This is the minimum investment amount for an existing investor in a mutual fund scheme. Standard deviation is a statistical measure of the range of an SIP investment’s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, SIP or systematic investment plan works on the principle of implying greater volatility. making periodic investments of a fixed sum. It works similar to a Sharpe Ratio recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund The Sharpe Ratio, named after its founder, the Nobel Laureate for a period of three years.
    [Show full text]
  • Fixed Income Portfolios (For Broker/Professional Use)
    Securities in Fixed Income Portfolios (For Broker/Professional Use) S. No. Company / Type of Description Security / Rating 1 Aasan Developers & Constructions Private Source: http://icra.in/Files/Reports/Rationale/Aasan%20Developers_r_29062015.pdf Limited BACKGROUND: Security: Corporate Debt Aasan Developers & Constructions Private Limited (ADCPL) was setup in July 2011 and has no operating or investing activities. The sole Rating: ICRA A+(SO) shareholder of ADCPL is Alpex Holdings Private Limited (from November 2014; prior to that, the company was held by PEL Infra Constructions & Developers Private Limited, PRL Developers Private Limited and Thoughtful Realtors Private Limited), which is held by Akshar Fincom Private Limited, which is the sole trustee of Sri Gopalkrishna Trust. As on March 31, 2015, the company has no external debt on its books and has availed only short-term unsecured loans from group concerns. The Sri Krishna Trust (SKT) was incorporated in 2005 for managing the investment holdings of the promoters in Piramal Enterprises Limited (PEL; rated [ICRA]AA(Stable) / [ICRA]A1+ by ICRA) and Piramal Phytocare Limited (PPL). The sole trustee for SKT is Piramal Management Services Private Limited (PMSPL) where the major shareholders are Mr. Ajay Piramal and Dr. Swati Piramal. As on March 31, 2015 the promoter group holding in PEL is ~52.85% of which 48.75% is held via SKT. Based on the current group structure, SKT is the principle holding trust for the promoter stake held in PEL (the flagship company of the Piramal Group). SKT’s credit profile is supported by its reasonably strong financial flexibility owing to its 48.7% stake in PEL (market valuation of Rs.
    [Show full text]
  • BUSINESS UK Edition Where's the Brexit Bus Heading?
    India’s Foremost Trade & Investment Magazine INDIA GL BAL BUSINESS UK Edition Where's the Brexit Bus Heading? 12 32 42 DESPATCH BOX HOTSPOT GLOBAL INDIAN Post-Brexit Britain should be building Poland's promise for The Indian wine market is one bridges with India, not burning them investors from India of the world’s most exciting Lord Karan Bilimoria Ada Dyndo Rajeev Samant UK Council for International Student Affairs Polish Investment & Trade Agency Founder, Sula Vineyards August 2018 £4.95 www.indiaincgroup.com ISSN 2516-3930 Transforming lives in India through strategic and sustainable CSR The British Asian Trust works with business to tackle poverty and create change The British Asian Trust thinks differently By combining innovative finance with traditional philanthropy, we are committed to achieving maximum social impact to help reduce poverty in India. Our work is geared towards education, anti-trafficking, livelihoods, disability and mental health, with an emphasis on children, young people and women. ‘Doing good’ can go hand-in-hand with a strong business imperative. We support powerful cross sector partnerships and investment in local communities by measuring outcomes, which makes our investors confident that we can deliver results at scale. Help us make a lasting difference For more information please contact: [email protected] and visit www.britishasiantrust.org The British Asian Trust is a UK Registered Charity (1127366) csr advert india 100.indd 1 16/05/2018 10:11 FROM THE TOP Sajid, smart young Indians must be encouraged to jump on the Global Britain bus ith Sajid Javid’s appointment as Home community, are job makers, not job takers.
    [Show full text]