Stock market time and again makes record rise. The benchmark 30-share index rose 893.58 points, or 4.69%, to 19,929.06 in one day. Even many small investors are making money in this market. It was never like this.
Top 5 IT firms spend $438 mn on training: The country’s top five software companies will together spend close to $438 million (Rs1, 721 crore) this financial year in training around 100,000 engineers they would have hired in the same period. In the case of most companies, up to 80% of the hires are made at the entry level, and up to 80% of the training budget is spent on them. With better working relations with educational institutes shaking off the professional ego, the expenditure could have been reduced to a great extent.
India Inc`s order book overflows: Contrary to hints of an economic slowdown, India Inc’s order books are overflowing. In the first 10 months of calendar year 2007, Indian companies received orders worth Rs 128,147 crore that are 68.6 per cent more than Rs 75,984 crore in the same period a year ago.
India, the new global hub for advertising campaign: The list of multinational companies that have chosen India as the base market for regional or, in some cases, global advertising operations, has grown considerably in recent times. Last year, BT awarded a $1-million contract to Tribal DDB India to manage a global online assignment, while Nissan, McDonald’s, Coca-Cola, Motorola and Johnson & Johnson have all begun to create work for other markets out of their Indian agencies.India climbs to 15th in ad ranking: According to the Gunn Report of 2007, India has moved ahead of China, New Zealand, Mexico and South Africa, among others, to notch up a total of 39 points for award winning campaigns in Print, TV and Interactive. Indians had been creative and are now cashing on that.
Furniture imports surge on growing demand: According to the Commerce Ministry figures, furniture import to India rose to Rs 1,801.27 crore in 2006-07 from Rs 1,103.46 crore in the previous year, an increase of 63.24 per cent against India’s total import growth of 27.27 during this period. Are Indians crazy about imported goods? Is it the real face of consumerism?
GDP growth may stay at 9%: Better agriculture growth and mixed corporate performance may help achieve 9% GDP growth in 2007-08 according to the latest issue of the CII’s ‘State of the Economy’.
Desi students still largest group in US: For the sixth year in a row, Indian students have emerged as the largest group of international students in the US. According to the latest figures released by the Institute of International Education on Sunday, there are 83,833 Indian students in US that comprise 14.4% of the total international students in the US. Indians are getting resourceful enough to bear the high expenses of education inUS.
NHPC plans to add 25, 000 mw capacity:The National Hydroelectric Power Corporation (NHPC), which has managed to produce just 4,145 mw from 11 projects since it was set up in 1975, is planning to add over 25,000 mw of hydro generation capacity over the next 20 years. One must dream big but must do everything to get the dreams realized too.
Wockhardt plans 14 new hospitals: Mumbai-based healthcare firm Wockhardt Hospitals is planning to set up 14 super-speciality hospitals across the country over the next two years, which could entail an investment of up to Rs600 crore. Apollo, which has 39 hospitals in India, will spend 8 billion rupees by 2009 and take up its bed count to 9,600 from 8,000 now. Competitor Fortis Healthcare Ltd will add 28 hospitals to its 12-hospital chain by 2012.
The small car dream-merchants: With approximately 56% of the population comprising youth and a rapidly expanding middle class, India could overtake China within a couple of years as the fastest-growing car market, according to analysts.
Carlos Ghosn in top gear on Indian drive: In just over six months since the launch of Logan, Ghosn has worked out a multi-partner strategy, tied up with Ashok Leyland for Nissan trucks, worked out an ultra-small car project with Bajaj Auto and is reputedly talking to both Eicher and Bajaj for Renault light commercial vehicles. Add to that the global production arrangement with Suzuki through Maruti and the greenfield plant and powertrain facility in Chennai.
Indian American is new Adobe president: Indian American Shantanu Narayen has been appointed President and Chief Executive Officer of Adobe System Incorporated from December 1 next replacing Bruce Chizen. Mr Narayen holds five patents and serves on the Advisory Board of the Haas School of Business, University of California, Berkeley and holds a bachelor’s degree in electronics engineering from Osmania University and Master’s in business administration from the Haas School of Business.
World takes note of Mumbai start-up’s waste-to-fuel tech: A Mumbai start-up may have well discovered a way to convert plastic, organic and electronic waste into petroleum without the usual harmful residue, and, emboldened by encouraging results from tests in the Netherlands, West Asia, and Malaysia, is now setting up plants that can process 25 tonnes of plastic a day in Austria, Italy, Germany, and the Netherlands.
India to buy 400 firms in US, EU: Assocham: India Inc would buy 400 firms in European Union and the US market every year from 2010 onwards, according to a study by Assocham. “Indian Companies acquired more than 180 Companies in Europe and US, up from 130 in 2005. The number would exceed 210 by end of current fiscal and the tempo would further be facilitated towards the projected numbers,”
Seven Indian firms among world’s 1,250 top R&D investors: Tata Motors, India’s most valued automobile firm, and drugmaker Ranbaxy are among the seven Indian firms in the world’s top 1,250 companies ranked on the basis of investments in research and development. Ranbaxy spent a total of Rs639.3 crore on research in 2005 and Rs483.8 crore in 2006.
Tech Mahindra to invest Rs 1,000 cr on three software units: Tech Mahindra, one of the largest IT services and telecom solutions has posted a turnover of $430 million during first six months of this year. Mahindra Group’s IT arm Tech Mahindra would invest Rs1,000 crore for setting up software development centres in Chandigarh, Noida and Jaipur in the next few years.
India to become 2nd largest steel producer: The country is set to become the world’s second largest producer of steel before 2015-16 and the sector is likely to witness an investment of Rs 8,70,640 crore by 2020.
Pyaasa, Apu Trilogy in Time list of best films: Time magazine has listed Guru Dutt’s Pyaasa, narrating the pathos of an unpublished poet, and Satyajit Ray’s Apu Trilogy, about a child growing into manhood in modern India, in its list of all-time 100 great movies.
India’s bull run is likely to continue: According to Rob Morrison, chairman and chief executive of financial research firm CLSA Asia-Pacific Markets, “The surfeit of liquidity powering markets in Asia (and India) will not dry up in the next six months or a year, but when the US overcomes its credit concerns, some of this money will surely go back.”
Construction boom: The construction industry employs about 31 million people, second only to the agriculture sector, the workforce requirement is about 5 million people every year over the next seven years to eight years to sustain the present 8 per cent growth rate.
Richest Indians crash billionaire club: There’s at least one thing Indians do better than the Chinese: generate wealth. At a staggering $180 billion, the four richest Indians are worth more than the 40 richest Chinese combined, according to Forbes magazine. The richest 40 Indians, on the other hand, are all billionaires, and together form the wealthiest such group in Asia, riding a surging Economy, soaring stock Markets and a stronger currency.
<b>Global telecom cos ride on Indian operations: Indian operations are clearly driving revenues and earnings of global telecom companies including Singapore Telecommunications, Maxis Communications, Vodafone Plc and Telecom Malaysia – all of which are present in the country.
Gems and jewellery exports in H1 up 21.5%: The country’s gems and jewellery exports have risen 21.5% to $9.38 billion in the first six months of the current fiscal as against $8.01 billion in the corresponding period last year.
Forex reserves up $3.6bn at $270bn: Foreign exchange reserves increased $3.663 billion to $270.181 billion for the week ended November 9, according to data released by the RBI today.
After Moon, India eyes Mars mission: The Indian mission to Mars got a fillip with ISRO’s 11th plan including the flight to the Red Planet as a part of the document. Are Indians moving too fast?